Adopted Budget
Fiscal Year 2020

South Village Community Development District

August 6, 2019

South Village
Community Development District

General Fund

 	 	 	 	 	

Description

Amended Budget
 	FY2019	

Actual thru
 	6/30/19	

Projected Next
 	3 Months	

Total Projected at 9130119

Adopted Budget
 	FY2020	

Revenues		
Maintenance Assessments - Tax Collector	$740,954		$746,899		$0		$746,899		$612,453	
Maintenance Assessments - Direct	$1,267		$1,267		$0		$1,267		$86,314	
Interest Income	$0		$2,464		$100		$2,564		$0	
Misc. Income - Boundary Amendment	$0		$25,000		$0		$25,000		$0	
Total Revenues	 	$742 221 		$775,630		 	$100 		 	$775,730 		$698,767	

Expenditures										
Administrative										
Supervisors Fees	$13,000		$10,800		$3,000		$13,800		$18,000	
FICA Taxes	$1,000		$826		$230		$1,056		$1,377	
Engineering	$15,000		$7,089		$2,363		$9,452		$15,000	
Arbitrage	$1,800		$0		$1,800		$1,800		$1,800	
Dissemination Agent	$5,000		$4,917		$1,639		$6,556		$8,500	
Assessment Roll	$5,300		$5,260		$0		$5,260		$5,300	
Attorney	$35,000		$16,106		$8,053		$24,159		$40,000	
Annual Audit	$4,500		$0		$4,500		$4,500 ·		$7,000	
Trustee	$15,000		$0		$12,102		$12,102		$15,000	
Management Fees	$45,000		$33,750		$11,250		$45,000		$49,000	
Computer Time	$1,000		$750		$250		$1,000		$1,000	
Telephone	$500		$553		$184		$737		$500	
Postage	$1,500		$1,432		$477		$1,909		$1,500	
Insurance	$7,200		$5,298		$0		$5,298		$7,200	
Printing & Binding	$3,300		$2,232		$744		$2,976		$3,300	
Legal Advertising	$1,000		$3,128		$1,043		$4,171		$5,000	
Other Current Charges	$1,200		$3,583		$1,194		$4,777		$1,200	
Office Supplies	$100		$252		$84		$336		$100	
Dues, Licenses, Subscriptions	$200		$175		$0		$175		$200	
Contingency	$572		$0		$500		$500		$572	
Sub Total Administrative Expenses	 	$157,172 		 	$96,151 		 	$49,413 		 	$145 564 		$181,549	
Community Appearance										
lnterlocal Agreement - MVCDD	$36,000		$35,754		$0		$35,754		$36,000	
Landscape - Contract	$155,518		$113,241		$37,747		$150,988		$155,518	
Landscape - Contingency	$30,000		$19,904		$6,635		$26,539		$30,000	
Personnel	$58,798		$2,531		$50,000		$52,531		$0	
Facility & Grounds Maintenance (Labor)	$0		$0		$0		$0		$52,000	
Landscape - lnigation Repairs	$10,500		$0		$10,500		$10,500		$10,500	
Lake - Contract	$25,423		$21,528		$6,498		$28,026		$30,000	
Utilities	$95,000		$51,549		$25,775		$77,324		$95,000	
Phase 5&6 Maintenance	$0		$0		$0		$0		$75,000	
Miscellaneous - Direct Cost	$10,000		$12,080		$4,027		$16,107		$10,000	
Security	$23,200		$20,122		$6,707		$26,829		$23,200	
Capital Outlay	 	$0 		 	$5,181 		 	$0 		 	$5,181 		 	$0 	
Sub-Total Community Appearance	 	$444,439 		 	$281,890 		 	$147 888 		 	$424,597 		$517,218	
TOTAL EXPENDITURES	 	$601,611 		 	$378,041 		 	$197,301 		 	$570,161 		$698,767	
Other Sources/{Uses ):										
lnterfund Transfer Out - Rec Fund	($88,320)		$0		($88,320)		($88,320)		$0	
lnterfund Transfer Out - Golf Fund	($52,290)		$0		($52,290)		($52,290)		$0	
TOTAL OTHER	 	($140,610) 		 	$0 		($140,610)		($140,610)		 	$0 	
EXCESS REVENUES/(EXPENDITURES)	$0		$397,589		($337,811)		$64,959		$0	

South Village
Community Development District

Platted Lots	FY2019	FY2020	

Assessments - Platted Lots	
1233	
1332	
Net-Assessment Rate	$1,104.50	$1,104.50	
Total Net Assessments - Tax Collector	$1,361,849	$1,471,194	
Gross Assessment (6% Discounts/Collections)	$1,448,775	$1,565,100	
Gross Assessment - Per Unit	$1,175	$1,175	
Phase 6			
Assessments - Platted Lots		77	
Net-Assessment Rate		$1,104.50	
Total Net Assessments - Direct Assessment		$85,047	

Allocation of On Roll Assessments:
Total Net Assessments - Tax Collector Platted	$1,471,194

Total Assessment - Tax Collector	$1,471,194	
General Fund	$612,453	
Recreation Fund	$858 741	
	$1,471,194	

IDirect Invoices	FY2020

Eagle Landing LP
Phase 6 Lots

13-04-24-005542-010-00	$1,267
$85,047

 	$86,314 

2

South Village
Community Development District
GENERAL FUND BUDGET

REVENUES:

Assessments - Platted Lots

The District will assess the platted lots within the District to fund a portion of the District's operating budget for the fiscal year.

EXPENDITURES:

Administrative:

Engineering Fees

The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, and various projects assigned as directed by the board of supervisors.

Arbitrage

Th\l District is required to have an annual arbitrage rebate 2016A1/A2 and A3, Capital Improvement Refunding Bonds. independent CPA firm to perform this calculation.

Dissemination Agent

calculation prepared for the Series The District will contract with an

The District has contracted GMS, LLC to act as Dissemination Agent for the District to prepare the Annual Disclosure Report required by the Security and Exchange Commission in order to comply with Rule 15(c)(2)-12(b}(5), which relates to additional reporting requirements for un-rated bond issues.

Attorney

The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, agreements, etc.

Annual Audit

The District is required by Florida Statute to arrange for an annual audit of its financial records by an independent certified public accounting firm.

Trustee

The District's Series 2016A1/A2 and A3 Capital Improvement Refunding Bonds are held by a Trustee with US Bank, N.A. The amount represents the fee for the administration of the District's bond issue.

Assessment Roll

Assessment Roll administrative services are provided by Governmental Management Services, LLC for updating the districts' tax roll, certifying the annual assessments and collection of prepaid assessments.

South Village
Community Development District
GENERAL FUND BUDGET

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. These services are further outlined in Exhibit "A'.' of the Management Agreement.

Computer Time

The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a mainframe computer leased by Governmental Management Services, LLC

Telephone

This category includes all charges relating to telephone calls, conference calls, and faxes made to and cin behalf of the District.

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District's General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance. FIA specializes in providing insurance coverage to governmental agencies.

Printing & Binding

This category includes expenses relating to the printing and binding of agenda packages for board meetings, accounts payable checks, stationary, envelopes, photocopies, etc.

Legal Advertising

The District is required to advertise various notices for board meetings, public hearings, etc. in a newspaper of general circulation.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Miscellaneous office supplies.

Dues, Licenses & Subscriptions

Th13 District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.

South Village
Community Development District
GENERAL  FUND BUDGET

Community Appearance

lnterlocal Agreement - Middle Village CDD

The District has entered into an agreement with Middle Village CDD for the maintenance and repair of certain landscape areas and associated irrigation systems which are located within the Right-of-Way of Oakleaf Plantation Boulevard.

Personnel

Costs associated with management and maintenance of community appearance.

Landscape

This represents landscape maintenance of all District property, to include mowing, weeding, trimming, pruning, fertilizing etc. The District is contracted with Tree Amigos. The contract is $12,582.34 per month, or $150,988.08 annually.

Facility & Grounds Maintenance

Represents contracted amount paid to HonoursGolf for a fulltime contracted maintenance labor employee.

Landscape - Irrigation Repairs

This represents repairs to the District's irrigation systems which are not already included in contract with Tree Amigos.

Lake Maintenance

The District has contracted with Lake Doctor's for monthly aquatic plant management in 29 ponds. Services provide labor, equipment, herbicides and technology to control cattails, pennywort, primrose and algae. The contract is $2,166 per month, or $25,992 annually. Amount budgeted includes a contingency.

Utilities

The District currently has the following accounts with Clay Electric Cooperative for electric service:

Account#	Service Address	Monthly	Annually	
587548-9	3935-1 Eagle Landing/Water Fall	$	1,586	$ 19,032	
592937-7	3935-2 Eagle Landing/St Lights	$	150	$	1,800	
647443-1	4045-2 Eagle Crossing Drive	$	60	$	750	
	Contingency		$ 10,000	
		Total	$ 31,582	

South Village
Community Development District
GENERAL FUND BUDGET

In addition, the District has the following accounts with Clay County Utility Authority for water, sewer and reuse service:

Account#	Service Address	Monthly	Annually

rcio213095	._3924-1 Eagle Landing Pkwy	$	415	$	4,980 .' .	
'cio213119	3988-1 Eagle Landing Parkway	$	126	$	1,512.	
,'cio215602	3968-1 Eagle Landing Parkway	$	162	$	1,944	
'50220803	3973 Eagle Landing Parkway	$	110	$	1,320	
'50222067	3989 Eagle Landing Parkway	$	108	$	1,296	
'50229064	3979-2 Eagle Landing Parkway	$	708	$	8,496 ..	
;'50230632	i3965-1 Eagle Landing Parkway	$	1,381	$	16,572 ,	
,'50230638	; 3965-2 Eagle Landing Parkway	$	69	$	828	
lcio23o640	3965-3 Eagle Landing Parkway	$	52	' $	624 ·	
.loo230641	,3975 Eagle Landing Parkway	$	117	$	1,404	
'ci0230642	3979 Eagle Landing Parkway	i$	272	$	3,264 ,	
'50235500	'4108-1 Eagle Landing Parkway Irr	$	197	$	2,364	
.loo233750	'143_3-1 Eagle Landing Parkway	$	68	$	816	
ffio502768	2180 Club Lake Drive Reclaimed Irr	:$	357	$	4,284	
ffio502779	2319 Club Lake Drive Reclaimed Irr	$	31	$	372 i	
'oo556739	.1294 Autumn Pines Drive	$	35	$	420 '	
.	!Contingency	$	12,922
Total i $	4(208 !$	63A18,

Misc - Direct Costs

Represents any expenses not included in the other categories.

Security

The District has contracted with the Clay County Sheriff's Office for security.

South Village
Community Development District	Debt  Service Fund
Series 2016 A1/A2

	Adopted
Budget		Actual
thru		Projected
Next		Total
Projected at		Adopted Budget		
	Description		FY2019		6/30/19		3 Months		9/30/19		FY2020		
	Revenues												
	Cany Forward Surplus		$430,291		$430,773		$0		$430,773		$419,182		
	Special Assessment - Tax Collector		$1,490,047		$1,498,605		$0		$1,498,605		$1,490,047		
	Direct Invoices		$24,874		$24,874		$0		$24,874		$24,874		
	Prepayments		$0		$64,569		$0		$64,569		$0		
	Interest Income		$0		$23,270		$2,000		$25,270		$0		
	TOTAL REVENUES		$1,945,212		$2,042,091		$2,000		$2,044,091		$1,934,103		

"'

Expenditures

Series 2016 A1 - Refunding Bonds
Interest - 11/1	$195,013	$195,013	$0	$195,013	$187,803	
Special Call - 11/1	$0	$35,000	$0	$35,000	$0	
Interest - 5/1	$195,013	$194,569	$0	$194,569	$187,803	
.  Principal - 5/1	$600,000	$600,000	$0	$600,000	$610,000
Special Call - 5/1	$0	$55,000	$0	$55,000	$0

Interest - 11/1	$57,281	$57,281	$0	$57,281	$57,281	
Interest - 5/1	$57,281	$57,281	$0	$57,281	$57,28.1	

Series 2016 A2 - Refunding Bonds						
Interest -11/1	$99,624	$99,624	$0	$99,624	$95,245	
Interest - 5/1	$99,624	$99,391	$0	$99,391	$95,245	
Principal- 5/1	$170,000	$170,000	$0	$170,000	$175,000	
Special Call - 5/1	$0	$20,000	$0	$20,000	$0	

Series 2016 A2 - Revenue Bonds						
lnterest-11/1		$20,875	$20,875	$0		$20,875	$20,875	
Interest - 5/1		$20,875	$20,875	$0		$20,875	$20,875	
 	TOTAL EXPENDITURES			$1,515,586	$1,624,909	$0		$1,624,909	$1,507,409	
EXCESS REVENUES/(EXPENDITURES)		$429,626	$417,182	$2,000		$419,182	$426,694	
Carry Forward is net of Reserve requirement								
	Total	Debt Gross Per	Gross	Net		Interest 11/1/2020:		
	Units	Unit Tax Roll	Assessment	Assessment				
						A1 Refunding	$181,703	
Platted Lois - Full Debt	1072	$1,470.05	$1,575,894	$1,481,340		A1 Revenue	$57,281	
Platted Lots - No 2005A Debt	59	$146.87	$8,665	$8,145		A2 Refunding	$91,439	
Platted Lot - Partial	1	$597.53	$598	$562		A2 Revenue	$20 875	
Total Platted	1,132		$1,585,156	$1,490,047			$351,298	

Series 2016 A1 - Revenue Bonds

'"

7

South Village	Amortization Schedule

11/1/19	$	12,705,000.00	2.00%	$	$	187,803.13	$	187,803.13	
5/1/20	$	12,705,000.00	2.00%	$	610,000	$	187,803.13		
11/1/20	$	12,095,000.00	2.00%	$	$	181,703.13	$	979,506.26	
5/1/21	$	12,095,000.00	2.00%	$	620,000	$	181,703.13		
11/1/21	$	11,475,000.00	2.00%	$	$	175,503.13	$	977,206.26	
5/1/22	$	11,475,000.00	2.00%	$	635,000	$	175,503.13		
11/1/22	$	10,840,000.00	2.13%	$	$	168,756.25	$	979,259.38	
5/1/23	$	10,840,000.00	2.13%	$	650,000	$	168,756.25		
11/1/23	$	10,190,000.00	2.38%	$	$	161,037.50	$	979,793.75	
5/1/24	$	10,190,000.00	2.38%	$	665,000	$	161,037.50		
11/1/24	$	9,525,000.00	2.50%	$	$	152,725.00	$	978,762.50	
5/1/25	$	9,525,000.00	2.50%	$	680,000	$	152,725.00		
11/1/25	$	8,845,000.00	2.75%	$	$	143,375.00	$	976,100.00	
5/1/26	$	8,845,000.00	2.75%	$	700,000	$	143,375.00		
11/1/26	$	8,145,000.00	3.00%	$	$	132,875.00	$	976,250.00	
5/1/27	$	8,145,000.00	3.00%	$	725,000	$	132,875.00		
11/1/27	$	7,420,000.00	3.25%	$	$	121,093.75	$	978,968.75	
5/1/28	$	7,420,000.00	3.25%	$	750,000	$	121,093.75		
11/1/28	$	6,670,000.00	3.50%	$	$	107,968.75	$	979,062.50	
5/1/29	$	6,670,000.00	3.50%	$	775,000	$	107,968.75		
11/1/29	$	5,895,000.00	3.50%	$	$	94,406.25	$	977,375.00	
5/1/30	$	5,895,000.00	3.50%	$	805,000	$	94,406.25		
11/1/30	$	5,090,000.00	3.50%	$	$	80,318.75	$	979,725.00	
5/1/31	$	5,090,000.00	3.50%	$	835,000	$	80,318.75		
11/1/31	$	4,255,000.00	3.50%	$	$	65,706.25	$	981,025.00	
5/1/32	$	4,255,000.00	3.50%	$	865,000	$	65,706.25		
11/1/32	$	3,390,000.00	3.63%	$	$	50,568.75	$	981,275.00	
5/1/33	$	3,390,000.00	3.63%	$	900,000	$.	50,568.75		
11/1/33	$	2,490,000.00	3.63%	$	$	34,256.25	$	984,825.00	
5/1/34	$	2,490,000.00	3.63%	$	930,000	$	34,256.25		
11/1/34	$	1,560,000.00	3.63%	$	$	17,400.00	$	981,656.25	
5/1/35	$	1,560,000.00	3.63%	$	960,000	$	17,400.00		
			$			$	977,400.00	

Community Development District				Series 2016 A1, Refunding Bonds DATE	BALANCE	RATE	PRINCIPAL	 INTEREST	TOTAL	

 	Total		 	$  12,105,000.00	$3,750,993.78	$ 15,855,993.78

**Revised 5'1/19

South Village	Amortization Schedule
Community Development District	Series 2016 A1,  Revenue Bonds

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
11/1/19	$	3,055,000.00	3.75%	$	$	57,281.25	$	57,281.25	
5/1/20	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/20	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/21	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/21	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/22	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/22	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/23	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/23	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/24	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/24	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/25	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/25	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/26	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/26	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/27	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/27	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/28	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/28	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/29	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/29	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/30	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/30	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/31	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/31	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/32	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/32	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/33	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/33	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/34	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/34	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/35	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/35	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/36	$	3,055,000.00	3.75%	$	980,000	$	57,281.25		
11/1/36	$	2,075,000.00	3.75%	$	$	38,906.25	$	1,076,187.50	
5/1/37	$	2,075,000.00	3.75%	$	1,020,000	$	38,906.25		
11/1/37	$	1,055,000.00	3.75%	$	$	19,781.25	$	1,078,687.50	
5/1/38	$	1,055,000.00	3.75%	$	1,055,000
 	$		$	19,781.25	
$	1,074,781.25	
 	Total		   $ 3,055,000.00 	   $	2,064,937.50 	 	$	5,119 937.50	

9

South Village	Amortization Schedule
Community Development District	Series 2016  A2,  Refunding  Bonds

 	DATE		 BALANCE	RATE		 PRINCIPAL	INTEREST	TOTAL	

11/1/19	$ 4,060,000.00	4.35%	$	$	95,245.00	$	95,245.00	
5/1/20	$ 4,060,000.00	4.35%	$	175,000	$	95,245.00		
11/1/20	$ 3,885,000.00	4.35%	$	$	91,438.75	$	361,683.75	
5/1/21	$ 3,885,000.00	4.35%	$	185,000	$	91,438.75		
11/1/21	$ 3,700,000.00	4.35%	$	$	87,415.00	$	363,853.75	
5/1/22	$ 3,700,000.00	4.35%	$	195,000	$	87,415.00		
11/1/22	$ 3,505,000.00	4.35%	$	$	83,173.75	$	365,588.75	
5/1/23	$ 3,505,000.00	4.35%	$	200,000	$	83,173.75		
11/1/23	$ 3,305,000.00	4.35%	$	$	78,823.75	$	361,997.50	
5/1/24	$ 3,305,000.00	4.35%	$	210,000	$	78,823.75		
11/1/24	$ 3,095,000.00	4.35%	$	$	74,256.25	$	363,080.00	
5/1/25	$ 3,095,000.00	4.35%	$	220,000	$	74,256.25		
11/1/25	$ 2,875,000.00	4.35%	$	$	69,471.25	$	363,727.50	
5/1/26	$ 2,875,000.00	4.35%	$	230,000	$	69,471.25		
11/1/26	$ 2,645,000.00	4.35%	$	$	64,468.75	$	363,940.00	
5/1/27	$ 2,645,000.00	4.88%	$	240,000	$	64,468.75		
11/1/27	$ 2,405,000.00	4.88%	$	$	58,618.75	$	363,087.50	
5/1/28	$ 2,405,000.00	4.88%	$	255,000	$	58,618.75		
11/1/28	$ 2,150,000.00	4.88%	$	$	52,403.13	$	366,021.88	
5/1/29	$ 2,150,000.00	4.88%	$	265,000	$	52,403.13		
11/1/29	$ 1,885,000.00	4.88%	$	$	45,943.75	$	363,346.88	
5/1/30	$ 1,885,000.00	4.88%	$	280,000	$	45,943.75		
11/1/30	$ 1,605,000.00	4.88%	$	$	39,118.75	$	365,062.50	
5/1/31	$ 1,605,000.00	4.88%	$	290,000	$	39,118.75		
11/1/31	$ 1,315,000.00	4.88%	$	$	32,050.00	$	361,168.75	
5/1/32	$ 1,315,000.00	4.88%	$	305,000	$	32,050.00		
11/1/32	$ 1,010,000.00	4.88%	$	$	24,615.63	$	361,665.63	
5/1/33	$ 1,010,000.00	4.88%	$	320,000	$	24,615.63		
11/1/33	$	690,000.00	4.88%	$	$	16,815.63	$	361,431.26	
5/1/34	$	690,000.00	4.88%	$	340,000	$	16,815.63		
11/1/34	$	350,000.00	4.88%	$	$	8,528.13	$	365,343.76	
5/1/35	$	350,000.00	4.88%	$	355,000	$	8,528.13		
			$		$	363,528.13	
 	Total				$ 4,065,000.00	 	$ 1,844,772.54	 $ 5,909,772.54	

**Revised 5/1/19						

South Village	Amortization Schedule
Community Development District	Series 2016 A21     Revenue  Bonds

 	DATE		BALANCE	RATE		PRINCIPAL		 INTEREST	TOTAL	

11/1/19	$ 835,000.00	5.00%	$	$	20,875.00	$	20,875.00	
5/1/20	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/20	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/21	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/21	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/22	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/22	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/23	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/23	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/24	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/24	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/25	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/25	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/26	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/26	$ 835,000.00	5.00%	$	$	.	20,875.00	$	41,750.00	
5/1/27	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/27	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/28	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/28	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/29	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/29	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/30	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/30	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/31	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/31	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/32	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/32	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/33	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/33	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/34	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/34	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/35	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/35	$ 835,000.00	5.00%	$	$	20,750.00	$	41,625.00	
5/1/36	$ 835,000.00	5.00%	$	265,000	$	20,750.00		
11/1/36	$ 570,000.00	5.00%	$	$	14,125.00	$	299,875.00	
5/1/37	$ 570,000.00	5.00%	$	275,000	$	14,125.00		
11/1/37	$ 295,000.00	5.00%	$	$	7,250.00	$	296,375.00	
5/1/38	$ 295,000.00	5.00%	$	290,000
$ 		$	7,250.00	
$	297,250.00 	

 	Total		 	$ 830,000.00	$	752,250.00	$	1,582,250.00 

South Village
Community Development District	Debt Service Fund
Series 2016 A3

	Adopted
Budget	Actual
thru	Projected
Next	Total
Projected at		Adopted
Budget		
Description				 	FY2019		6/30/19	 	3 Months		9/30/19		FY2020   			
Revenues											
Cany Forward Surplus				$315,957	$300,814	$0	$300,814		$184,535		
Special Assessment				$396,452	$376,626	$19,826	$396,452		$396,452		
Prepayments				$0	$193,090	$0	$193,090		$0		
Interest Income				$0	$6,167	$200	$6,367		$0		
TOTAL REVENUES				$712,409	$876,697	$20,026	$896,723		$580,987		

"'

Expenditures

Series 2016 A3 - Refunding Bonds
lnterest-11/1	$86,375	$85,400	$0	$85,400	$76,650
SpeclalCal!-11/1	$20,000	$155,000	$0	$155,000	$0
Interest - 2/1	$86,375	$600	$0	$600	$0
Special Call - 2/1	$0	$40,000	$0	$40,000	$0
Principal - 5/1	$0	$100,000	$0	$100,000	$105,000
Interest - 5/1	$86,375	$79,963	$0	$79,963	$76,650
Special Call - 5/1	$0	$75,000	$0	$75,000	$0
Interest - 8/1	$0	$0	$65,000	$65,000	$76,650
Special Call - 8/1	$0	$0	$975	$975	$0

Series 2016 &3 - Revenue Bonds

Interest - 1'1/1	$55,125	$55,125	$0	$55,125	$53,350
Interest - 5/1	$55,125	$55,125	$0	$55,125	$53,350
TOTAL EXPENDITURES	$389,375	$646,213	$65,975	$712,188	$441,650

EXCESS REVENUES/(EXPENDITURES)	$323,034	$230,485	($45,949)	$184,535	$139,337

"'	Carry Forward is net of Reserve requirement

Platted Lots - Full Debt
Total Platted	Total
Units

 	:!.§!Z_	Debt Gross Per
Unit Tax Roll	Gross
Assessment	Net
Assessment		
		
$2,140.90	
$421,757	$396,452		
			$421,757	$396,452		

Interest 11/1/2020:

A3 Refunding	$73,763
A3 Revenue	$53 350
$127,113

South Village	Amortization Schedule
Community Development District	Series 2016  A3,   Refunding Bonds

DATE		BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
11/1/19	$	2,640,000.00	5.50%	$	$	76,650.00	$	76,650.00	
5/1/20	$	2,640,000.00	5.50%	$	105,000	$	76,650.00		
11/1/20	$	2,535,000.00	5.50%	$	$	73,762.50	$	255,412.50	
5/1/21	$	2,535,000.00	5.50%	$	110,000	$	73,762.50		
11/1/21	$	2,425,000.00	5.50%	$	$	70,737.50	$	254,500.00	
5/1/22	$	2,425,000.00	5.50%	$	115,000	$	70,737.50		
11/1/22	$	2,310,000.00	5.50%	$	$	67,575.00	$	253,312.50	
5/1/23	$	2,310,000.00	5.50%	$	125,000	$	67,575.00		
11/1/23	$	2,185,000.00	5.50%	$	$	64,137.50	$	256,712.50	
5/1/24	$	2,185,000.00	5.50%	$	130,000	$	64,137.50		
11/1/24	$	2,055,000.00	5.50%	$	$	60,562.50	$	254,700.00	
5/1/25	$	2,055,000.00	5.50%	$	135,000	$	60,562.50		
11/1/25	$	1,920,000.00	5.50%	$	$	56,850.00	$	252,412.50	
5/1/26	.$	1,920,000.00	5.50%	$	145,000	$	56,850.00		
11/1/26	$	1,775,000.00	5.50%	$	$	52,862.50	$	254,712.50	
5/1/27	$	1,775,000.00	5.50%	$	155,000	$	52,862.50		
11/1/27	$	1,620,000.00	6.00%	$	$	48,600.00	$	256,462.50	
5/1/28	$	1,620,000.00	6.00%	$	165,000	$	48,600.00		
11/1/28	$	1,455,000.00	6.00%	$	$	43,650.00	$	257,250.00	
5/1/29	$	1,455,000.00	6.00%	$	170,000	$	43,650.00		
11/1/29	$	1,285,000.00	6.00%	$	$	38,550.00	$	252,200.00	
5/1/30	$	1,285,000.00	6.00%	$	185,000	$	38,550.00		
11/1/30	$	1,100,000.00	6.00%	$	$	33,000.00	$ 256,550.00	
5/1/31	$	1,100,000.00	6.00%	$	195,000	$	33,000.00		
11/1/31	$	905,000.00	6.00%	$	$	27,150.00	$	255,150.00	
5/1/32	$	905,000.00	6.00%	$	205,000	$	27,150.00		
11/1/32	$	700,000.00	6.00%	$	$	21,000.00	$ 253,150.00	
5/1/33	$	700,000.00	6.00%	$	220,000	$	21,000.00		
11/1/33	$	480,000.00	6.00%	$	$	14,400.00	$	255,400.00	
5/1/34	$	480,000.00	6.00%	$	235,000	$	14,400.00		
11/1/34	$	245,000.00	6.00%	$	$	7,350.00	$	256,750.00	
5/1/35	$	245,000.00	6.00%	$	245,000	$	7,350.00		
$ 	$	252,350.00 	
Total	$ 2,640,000.00	$	1,513,675.00	$4,153,675.00	

..Revised 511/19

South Village	Amortization Schedule
Community Development District	Series 2016 A3, Revenue Bonds

 	DATE	BALANCE	RATE		 PRINCIPAL	INTEREST	TOTAL	
11/1/19	$	2,140,000.00	5.00%	$	$	53,500.00	$	53,500.00
5/1/20	$	2,140,000.00	5.00%	$	$	53,500.00
11/1/20	$	2,140,000.00	5.00%	$	$	53,500.00	$	107,000.00
5/1/21	$	2,140,000.00	5.00%	$	$	53,500.00
11/1/21	$	2,140,000.00	5.00%	$	$	53,500.00	$	107,000.00
5/1/22	$	2,140,000.00	5.00%	$	$	53,500.00
11/1/22	$	2,140,000.00	5.00%	$	$	53,500.00	$	107,000.00
5/1/23	$	2,140,000.00	5.00%	$	$	53,500.00
11/1/23	$	2,140,000.00	5.00%	.$	$	53,500.00	$	107,000.00
5/1/24	$	2,140,000.00	5.00%	$	$	53,500.00
11/1/24	$	2,140,000.00	5.00%	$	$	53,500.00	$	107,000.00
5/1/25'	$	2,140,000.00	5.00%	$	$	53,500.00
11/1/25	$	2,140,000.00	5.00%	$	$	53,500.00	$	107,000.00
5/1/26	$	2,140,000.00	5.00%	$	$	53,500.00
11/1/26	$	2,140,000.00	5.00%	$	$	53,500.00	$	107,000.00
5/1/27	$	2,140,000.00	5.00%	$	$	53,500.00
11/1/27	$	2,140,000.00	5.00%	$	$	53,500.00	$	107,000.00
5/1/28	$	2,140,000.00	5.00%	$	$	53,500.00
11/1/28	$	2,140,000.00	5.00%	$	$	53,500.00	$	107,000.00
5/1/29	$	2,140,000.00	5.00%	$	$	53,500.00
11/1/29	$	2,140,000.00	5.00%	$	$	53,500.00	$	107,000.00
5/1/30'	$	2,140,000.00	5.00%	$	$	53,500.00
11/1130	$	2,140,000.00	5.00%	$	$	53,500.00	$	107,000.00
5/1/31	$	2,140,000.00	5.00%	$	$	53,500.00
11/1/31	$	2,140,000.00	5.00%	$	$	53,500.00	$	107,000.00
5/1/32	$	2,140,000.00	5.00%	$	$	53,500.00
11/1/32	$	2,140,000.00	5.00%	$	$	53,500.00	$	107,000.00
5/1/33	$	2,140,000.00	5.00%	$	$	53,500.00
11/1/33	$	2,140,000.00	5.00%	$	$	53,500.00	$	107,000.00
5/1/34	$	2,140,000.00	5.00%	$	$	53,500.00
11/1/34	$	2,140,000.00	5.00%	$	$	53,500.00	$	107,000.00
5/1/35	$	2,140,000.00	5.00%	$	$	53,500.00
1:1/1/35	$	2,140,000.00	5.00%	$	$	53,500.00	$	107,000.00
5/1/36	$	2,140,000.00	5.00%	$	150,000	$	53,500.00
11/1/36	$	1,990,000.00	5.00%	$	$	49,750.00	$	253,250.00
5/1/37	$	1,990,000.00	5.00%	$	160,000	$	49,750.00
11/1/37	$	1,830,000.00	5.00%	$	$	45,750.00	$	255,500.00
511/38	$	1,830,000.00	5.00%	$	165,000	$	45,750.00
1111/38	$	1,665,000.00	5.00%	$	$	41,625.00	$	252,375.00
511/39'	$	1,665,000.00	5.00%	$	175,000	$	41,625.00
11/1/39	$	1,490,000.00	5.00%	$	$	37,250.00	$	253,875.00
511/40	$	1,490,000.00	5.00%	$	185,000	$	37,250.00
1111140	$	1,305,000.00	5.00%	$	$	32,625.00	$	254,875.00
5/1/41	$	1,305,000.00	5.00%	$	190,000	$	32,625.00
11/1/41	$	1,115,000.00	5.00%	$	$	27,875.00	$	250,500.00
5/1/42	$	1,115,000.00	5.00%	$	200,000	$	27,875.00
11/1/42	$	915,000.00	5.00%	$	$	22,875.00	$	250,750.00
5/1/43	$	915,000.00	5.00%	$	210,000	$	22,875.00
11/1/43	$	705,000.00	5.00%	$	$	17,625.00	$	250,500.00
5/1/44	$	705,000.00	5.00%	$	225,000	$	17,625.00
1111/44	$	480,000.00	5.00%	$	$	12,000.00	$	254,625.00
5/1/45	$	480,000.00	5.00%	$	235,000	$	12,000.00
11/1/45	$	245,000.00	5.00%	$	$	6,125.00	$	253,125.00
511/46	$	245,000.00	5.00%	$	245,000	$	6,125.00	$	251,125.00

 	Total		$ 	2 140 000.00	$		2 406 000.00	$		4 546,000.00

South Village
Community Development District	Debt Service Fund
Series 2019

,,,

Description

Revenues		
Garry Forward Surplus	$0	$0	$0	$0	
$147,030	
Special Assessment -A	$0	$0	$0	$0	$223,713	
Direct Assessments - B	$0	$0	$0	$0	$95,200	
Interest Income	$11,500	$11,505	$150	$11,655	$0	
TOTAL REVENUES	$11,500	$11,505	$150	$11,655	$465,943	

Adopted
Budget		Actual
thru		Projected
Next		Total
Projected at		Adopted
Budget	
 	FY2019	6/30/19	3 Months		9/30/19 		FY2020	

Expenditures

Series 2019A
lnterest-11/1	$0	$0	$0	$0	$87,940
Principal - 5/1	$0	$0	$0	$0	$45,000
Interest - 5/1	$41,039	$41,039	$0	$41,039	$87,405

Series 2019B
Interest - 11/1	$22,213	$22,213	$0	$22,213	$47,600
Interest - 5/1	$0	$0	$0	$0	$47,600

      TOTAL EXPENDITURES		$63,252	$63,252	$0	$63,252	$315,545

Other Sources/(Uses)

Bond Proceeds	$254,722	$254,722	$0	$254,722	$0
      TOTAL OTHER		$254,722	$254,722	$0	$254,722	$0

EXCESS REVENUES/(EXPENDITURES)	$202,970	$202,975	 	$150	$203,125	$150,398
"'	Carry Forward Is net of Reserve requirement

Total Units	Debt Gross Per		Gross		Net  Unit Tax Roll	Assessment	Assessment	

Platted Lots - Full Debt	 	ill_	$1,469.09
Total Platted	---1§1_	
$237 993	$223 713	
	$237,993	$223,713	

Interest 11/1/2020:

2019A	$79,963
2019B	$47600
$127,563

South Village	Amortization Schedule
Community Development District	Series 2019A, Capital Improvement Bonds

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL		
5/1/19	$	3,255,000.00	$	$	41,038.66	$	41,038.66		
11/1/19	$	3,255,000.00	$	$	87,940.01	$	87,940.01		
5/1/20	$	3,255,000.00	$	45,000	$	87,405.63			
11/1/20	$	3,210,000.00	$	$	87,405.63	$	219,811.25		
5/1/21	$	3,210,000.00	$	50,000	$	86,277.50			
11/1/21	$	3,160,000.00	$	$	86,277.50	$	222,555.00		
5/1/22	$	3,160,000.00	$	50,000	$	85,090.00			
11/1/22	$	3,110,000.00	$	$	85,090.00	$	220,180.00		
5/1/23	$	3,110,000.00	$	55,000	$	83,843.13			
11/1/23	$	3,055,000.00	$	$	83,843.13	$	222,686.25		
5/1/24	$	3,055,000.00	$	55,000	$	82,536.88			
11/1/24	$	3,000,000.00	$	$	82,536.88	$	220,073.75		
5/1/25	$	3,000,000.00	$	60,000	$	81,171.25			
11/1/25	$	2,940,000.00	$	$	81,171.25	$	222,342.50		
5/1/26	$	2,940,000.00	$	60,000	$	79,746.25			
11/1/26	$	2,880,000.00	$	$	79,746.25	$	219,492.50		
5/1/27	$	2,880,000.00	$	65,000	$	78,261.88			
11/1/27	$	2,815,000.00	$	$	78,261.88	$	221,523.75		
5/1/28	$	2,815,000.00	$	70,000	$	76,658.75			
11/1/28	$	2,745,000.00	$	$	76,658.75	$	223,317.50		
5/1/29	$	2,745,000.00	$	70,000	$	74,996.25			
11/1/29	$	2,675,000.00	$	$	74,996.25	$	219,992.50		
5/1/30	$	2,675,000.00	$	75,000	$	73,143.13			
11/1/30	$	2,600,000.00	$	$	73,143.13	$	221,286.25		
5/1/31	$	2,600,000.00	$	80,000	$	71,031.25			
11/1/31	$	2,520,000.00	$	$	71,031.25	$	222,062.50		
5/1f3c	$	2,520,000.00	$	85,000	$	68,783.13			
11/1/32	$	2,435,000.00	$	$	68,783.13	$	222,566.25		
5/1/33	$	2,435,000.00	$	90,000	$	66,398.75			
11/1/33	$	2,345,000.00	$	$	66,398.75	$	222,797.50		
5/1/34	$	2,345,000.00	$	95,000	$	63,878.13			
11/1/34	$	2,250,000.00	$	$	63,878.13	$	222,756.25		
5/1/35	$	2,250,000.00	$	100,000	$	61,221.27			
11/1/35	$	2,150,000.00	$	$	61,221.27	$	222,442.54		
5/1/36	$	2,150,000.00	$	105,000	$	58,428.13			
11/1/36	$	2,045,000.00	$	$	58,428.13	$	221,856.25		
5/1/37	$	2,045,000.00	$	110,000	$	55,498.75			
11/1/37	$	1,935,000.00	$	$	55,498.75	$	220,997.50		
5/1/38	$	1,935,000.00	$	115,000	$	52,433.13			
11/1/38	$	1,820,000.00	$	$	52,433.13	$	219,866.25		
5/1/39	$	1,820,000.00	$	125,000	$	49,163.13			
11/1/39	$	1,695,000.00	$	$	49,163.13	$	223,326.25		
5/1/40	$	1,695,000.00	$	130,000	$	45,640.00			
11/1/40	$	1,565,000.00	$	$	45,640.00	$	221,280.00		
5/1/41	$	1,565,000.00	$	140,000	$	41,860.00			
11/1/41	$	1,425,000.00	$	$	41,860.00	$	223,720.00		
5/1/42	$	1,425,000.00	$	145,000	$	37,870.00			
11/1/42	$	1,280,000.00	$	$	37,870.00	$	220,740.00		
5/1/43	$	1,280,000.00	$	155,000	$	33,670.00			
11/1/43	$	1,125,000.00	$	$	33,670.00	$	222,340.00		
5/1/44	$	1,125,000.00	$	165,000	$	29,190.00			
11/1/44	$	960,000.00	$	$	29,190.00	$	223,380.00		
5/1/45	$	960,000.00	$	170,000	$	24,500.00			
11/1/45	$	790,000.00	$	$	24,500.00	$	219,000.00		
5/1/46	$	790,000.00	$	180,000	$	19,600.00			
11/1/46	$	610,000.00	$	$	19,600.00	$	219,200.00		
5/1/47	$	610,000.00	$	190,000	$	14,420.00			
11/1/47	$	420,000.00	$	$	14,420.00	$	218,840.00		
5/1/48	$	420,000.00	$	205,000	$	8,890.00			
11/1/48	$	215,000.00	$	$	8,890.00	$	222,780.00		
5/1/49	$	215,000.00	$	215,000	$	6,020.00	$	221,020.00		

 	Total		 $	3,255,000.00	 $	3,518,211.21         $	6,773,211.21 

16

South Village
Community Development District

Amortization Schedule
Series 2019B,  Capital Improvement Bonds

 	DATE			BALANCE		RATE		PRINCIPAL		INTEREST		TOTAL		

5/1119		
$	1,700,000.00				
$		
$	22,213.33		
$	22,213.33		
11/1/19		$	1,700,000.00		5.60%		$		$	47,600.00		$	47,600.00		
5/1/20		$	1,700,000.00		5.60%		$		$	47,600.00				
11/1/20		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
5/1/21		$	1,700,000.00		5.60%		$		$	47,600.00				
11/1/21		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
5/1/22		$	1,700,000.00		5.60%		$		$	47,600.00				
11/1/22		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
5/1/23		$	1,700,000.00		5.60%		$		$	47,600.00				
11/1/23		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
5/1/24		$	1,700,000.00		5.60%		$		$	47,600.00				
11/1/24		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
5/1/25		$	1,700,000.00		5.60%		$		$	47,600.00				
11/1/25		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
5/1/26		$	1,700,000.00		5.60%		$		$	47,600.00				
11/1/26		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
5/1/27		$	1,700,000.00		5.60%		$		$	47,600.00				
11/1/27		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
5/1/28		$	1,700,000.00		5.60%		$	1,700,000.00		$	47,600.00		$	1,747,600.00		
 	Total							$	1 700 000;00		$	879,013.33		$	2 579 013.33		

South Village - EL Resident Center		
Budget Comparisions		
Departments	18/19 Final Budget	18/19 Projections	
19/20 Adopted Budget	
Cafe	(12,512)	(7,359)	(515)	
Pool	(302,238)	(212,078)	(221,449)	
Tennis	(238,611)	(220,016)	(236,819)	
lake House/Kids	(16,104)	(7,703)	(13,923)	
Building Maintenance
G&A	
(154,220)	(53,753)
(300,033)	(90,502)
(271,325)	
OPERATING NOi:	$	(723,685)  $	(800,942)   $	(834,533)
ANNUAL ASSESSMENTS	$	728,973    $	728,973    $	858,741
TOTAL NOi

Additional Spend	 	$		5,288 $	(71,969)	$	24,208	
Not in Original Budget- From		$	23,000	$	4,000	
CDD General Fund Transfer			53,753		
Tennis Maintance Staff/F/T Positions			10,000	30,000	
General Maintenance Increase					
TOTAL	 	86,753		34,000

Breakdown All Departments	2018/2019 Projections	2019/2020 Adopted	Variance
CAFE

Payroll	$	46,978   $	42,952    $	(4,026)
Expenses	$	23,398   $	23,083    $	(315)
$
Total	$	70,376	$	66,035	$	(4,341)	
SWIM/POOL				
Payroll	$	154,020	$	162,845	$	8,825	
Expenses	$	105,663	$	107,430	$	1,767	
			$	
Total		$	259,683	$	270,275	$	10,592	
TENNIS				
Payroll	$	218,567	$	246,267	$	27,700	
Expenses	$	69,515	$	68,642	$	(873)	
			$	
Total	$	288,082	$	314,909	$	26,827	
KIDS CLUB/LAKE HOUSE				
Payroll	$	31,178	$	34,224	$	3,046	
Expenses	$	15,394	$	20,249	$	4,855	
			$	
Total	$	46,572    $	54,473    $	7,901

18

BUILDING MAINTENANCE

Payroll	$	44,068 $	76,802	$	32,734	
Expenses	$	9,685 $	13,700	$	4,015	
Total	$	53,753 $	
90,502	$
$	
36,749	
G&A OPERATIONS

Payroll	$	174,398 $	

133,885	

$	

(40,513)	
Expenses	$	125,635   $

Total	$	300,033   $	137,440

271,32S	$
$
$	11,BOS

(28,708)	

TOTAL OPERATIONS
Payroll	$	669,209 $	

696,97S	

$	

27,766	
Expenses	$	349,290 $	370,S44	$	21,2S4	

Total	$	1,018,499 $	
1,067,S19	$
$	
49,020	
VARIANCE REPORT	PAYROLL	EXPENSES		TOTAL		
STAFF INCREASES	$	7,SOO	YEAR-END INCENTIVE	$	10,000	
ALL F/T POSITIONS FILLED	$	18,000	MANAGEMENT INCREASE	$	1,500	
MEDICAL COST (NEW) MISC INCREASES	$
$	2,SOO	MARKETING EXPENSES	$	12,000	
Total	$	28,000		$	23,500	

South VIiiage • EL Golf		
Budget Comparisions		
Departments	18/19 Final Budget	18/19 Projections	19/20 Adopted Budget	
Golf Operations	933,034	904,722	1,009,441	
F&B	(42,211)	(52,032)	(25,084)	
C&G	(814,525)	(797,935)	(819,590)	
Building Maintenance	(37,800)	(21,025)	(32,650)	
G&A	(371,350)	(337,988)	(390,185)	
OPERATING NOi:	$	(332,852)	$	(304,258)  $	(258,068)	
ANNUAL ASSESSMENTS	$	321,012	$	321,012   $	339,569	
TOTAL NOi	 	$	(11,840)	$ 	16,754   $	81,501	
Additional Spend			
Not in Original Budget- From			
CDD General Fund Transfer			
Clubhouse Maintance Staff		12,000	6,000	
C&G Staff Increase Budget			
TOTAL		 	12,000		6,000	

Breakdown All Departments	
2018/2019 Projections	
 	   2019/2020 Adopted	 	Variance		
GOLF OPERATIONS			
Payroll	$	275,856	$	275,185   $	(671)	
Expenses	$	149,402	$	142,359   $	(7,043)	
		$	
Total		$	425,258	$	417,544	$	(7,714)	
F&B OPERATIONS				
Payroll	$	497,862	$	499,868	$	2,006	
Expenses	$	89,856	$	84,802	$	(5,054)	
$
Total	$	587,718   $	584,670   $	(3,048)

Payroll	$	423,309	$	447,390	$	24,081	
Expenses	$	374,626	$	372,200	$	(2,426)	
Total	$	797,935	$	819,590	$	21,655	
BUILDING MAINT. OPERATIONS			
Payroll	$	17,275	$	20,700	$	3,425	
Expenses	$	3,750	$	11,950	$	8,200	

Total	$	21,025	
$	32,650	$
 $	11,625	

C&G OPERATIONS

$

20

G&A OPERATIONS		
Payroll	$	138,197	$	162,785	$	24,588		
Expenses	$	436,529	$	467,000	$	30,471		
Total	$	574,726	$	629,785	$	55,059		

TOTAL OPERATIONS					
Payroll	$	1,352,499	$	1,405,928	$	53,429		
Expenses	$	1,051,832	$	1,078,311	$	26,479		
Total	$	2,404,331	$	2,484,239	$	79,908		

VARIANCE REPORT	
PAYROLL	
EXPENSES	
TOTAL		

STAFF INCREASES	
$	25,000	
YEAR-END INCENTIVE	
$	10,000		
ALL F/T POSITIONS FILLED	$	15,000	MANAGEMENT INCREASE	$	3,000		
MEDICAL COST (NEW)	$	5,000	RESIDENT APPRECIATION	$	14,000		
MISC INCREASES	$	9,000				
Total	$	54,000		$	27,000		

$

$

South, Village CDD
FY2020 Capital Reserve Fund Budget

	Adopted	Actual	Projected	Adopted	
Description	FY19	6/30/19	9/30/19	FY2020	

REVENUES:					
Assessments	$250,416	$252,441	$252,441	$264,892	
Golf Initiation(l)	$0	$29,500	$40,000	$40,000	
Phase 6 Lots(2)	$0	$0	$20,000	$120,000	
Interest	$0	$383	$433	$1,500	
Carry Forward	$63,358	$124,660	$124,660	$52,894	
Total Revenues	$313,774	$406,984	$437,534	$479,286	

EXPENDITURES					
Capital R&R(3)(4)	$250,000	$113,256	$390,256	$182,500	
Total Expenditures	$250,000	$113,256	$390,256	$182,500	
Fund Balance (5)	$63,774	$293,728	$47,278	$296,786	

Payment due of $500 upon sale or resale of lots within SVCDD
Payment due of $4,000 from developer upon sale of each Phase 6 lot to homebuilder or end user
Cost of repairs and replacement of capital assets
9/30 projection Includes R&R costs for remainder of FY19 ($277K)
FY19 does not include golf capital fund current balance ($116K) to be used for bunker renovations
FY20 first year of consolidated capital reserve fund for all CDD owned faciliities and other capital improvements

22