South Village
Community Development District

Budget Workshop

Tuesday July 7, 2020 6:00p.m.

Eagle Landing Residents Club 3975 Eagle Landing Parkway Orange Park, Florida 32065
Call In# 1-800-264-8432 Code 537347
www.SouthVillageCDD.com

I. Roll Call

IL Audience Comments

Discussion of Fiscal Year 2021 Budget

Supervisor's Requests

Audience Comments

Adjournment

Approved Budget
Fiscal Year 2021

South Village Community Development District

July 7, 2020

South Village	General Fund
Community Development District

Amended Budget		Actual
thru	Projected
Next	Total
Projected at	Approved Budget	
Description	FY2020		5131/20	4 Months	9/30/20	FY2021	
Revenues						
Maintenance Assessments -Tax Collector	$691,517	$693,610	($2,093)	$691,517	$698,384	
Maintenance Assessments - Direct	$7,250	$7,250	($0)	$7,250	$2,262	
Interest Income	$0	$4,320	$2,500	$6,820	$5,000	
Misc. Income - Boundary Amendment	$0	$7,469	$0	$7,469	$0	
Total Revenues	$698 767	$712,649	$406	$713 056	$705,646	

Expenditures						
Administrative						
Supervisors Fees	$18,000	$6,000	$4,000	$10,000	$14,000	
FICA Taxes	$1,377	$459	$306	$765	$1,071	
Engineering	$15,000	$4,375	$3,125	$7,500	$15,000	
Arbitrage	$1,800	$0	$1,800	$1,800	$1,800	
Dissemination Agent	$8,500	$5,667	$4,048	$9,714	$8,500	
Assessment Roll	$5,300	$5,300	$0	$5,300	$5,300	
Attorney	$40,000	$20,102	$20,102	$40,204	$40,000	
Annual Audit	$7,000	$0	$7,000	$7,000	$7,000	
Trustee	$15,000	$4,041	$12,102	$16,143	$17,000	
Management Fees	$49,000	$32,667	$23,333	$56,000	$52,000	
Computer Time	$1,000	$667	$476	$1,143	$1,000	
Telephone	$500	$558	$398	$956	$1,000	
Postage	$1,500	$885	$632	$1,518	$1,500	
Insurance	$7,200	$828	$0	$828	$7,200	
Printing & Binding	$3,300	$7,200	$700	$7,900	$2,000	
Legal Advertising	$5,000	$1,695	$1,500	$3,195	$4,000	
Other Current Charges	$1,200	$1,794	$1,282	$3,076	$3,000	
Office Supplies	$100	$17	$12	$29	$100	
Dues, Licenses, Subscriptions	$200	$175	$0	$175	$175	
Contingency	$572	$0	$500	$500	$500	
Sub-Total -Administrative Expenses	$181,549	$92,429	$81 316	$173 745	$182,146	
Community Appearance						
lnterlocal Agreement - MVCDD	$36,000	$28,466	$0	$28,466	$36,000	
Landscape Maintenance	$155,518	$103,301	$78,767	$182,068	$178,000	
Landscape - Contingency	$30,000	$7,182	$10,055	$17,237	$30,000	
Facility & Grounds Maintenance (Labor)	$21,640	$0	$21,640	$21,640	$22,000	
Landscape - Irrigation Repairs	$10,500	$1,505	$10,500	$12,005	$10,500	
Lake - Contract	$30,000	$19,375	$11,050	$30,425	$35,000	
Utilities	$95,000	$51,780	$44,383	$96,163	$95,000	
Phase 5&6 Maintenance	$75,000	$7,760	$50,000	$57,760	$75,000	
Miscellaneous - Direct Cost	$10,000	$8,438	$6,027	$14,465	$15,000	
Security	$23,200	$17,365	$12,404	$29,769	$27,000	
Sub-Total - Community Appearance	$486 858	$245,172	$244,825	$489,997	$523,500	
TOTAL EXPENDITURES	$668,407	$337,601	$326,142	$663,743	$705,646	

Other Sources/(Uses):						
lnterfund Transfer Out - Rec Fund	($15,180)	($15,180)	$0	($15,180)	$0	
lnterfund Transfer Out - Golf Fund	($15,180)	($15,180)	$0	($15,180)	$0	
TOTAL OTHER	($30,360)	($30,360)	 	$0		($30,360)	 	$0	
EXCESS REVENUES/(EXPENDITURES)	$0	$344,688	($325,735)	$18,953	$0	

South Village
Community Development District

Platted Lots	FY2020	FY2021	

Assessments - Platted Lots	
1332	
1494	
Net-Assessment Rate	$1,104.50	$1,104.50	
Total Net Assessments - Tax Collector	$1,471,194	$1,650,123	
Gross Assessment (6% Discounts/Collections}	$1,565,100	$1,755,450	
Gross Assessment - Per Unit	$1,175	$1,175	

Allocation of On Roll Assessments:
Total Net Assessments - Tax Collector Platted	$1,650,123

Total Assessment- Tax Collector	$1,650,123	
General Fund	$698,384	
Recreation Fund	$951,739	
	$1,650,123	

IDirect Invoices	FY2021
Cottages Parcel	$2,262

$2,262

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

The District is required to have an annual arbitrage rebate calculation prepared for the Series 2016A1/A2 and A3, Capital Improvement Refunding Bonds. The District will contract with an independent CPA firm to perform this calculation.

Dissemination Agent

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.
3

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 on 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

The 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.

4

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 COD 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		$	5,000	
		Total	$ 26,582	
	5			

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

,r	·-

"'-----	3988-1 Eagle Landing_f'ar_kway

'   00213095	392_4.:l EagleLandi g Pkwy

i''ooiiiiii9-
: 00215--6--02	3968-1 Eagle Landing Parkway
'5022oso:i- J39J?E;;i1 1_;;;:,cli;:,ii p,;.: ;.; ;;

415   ' S	4,980
 ----l---'----------i2rirs·   1,512
_,  ·'------     1_62 !_S	_  1,944
,_, 	- -	11() ! s	1,320

/'60:122067	J 3939 Eagle Landing Parkway

s	108 i S 1,296

'  -------------	(     ,_..  · ""'   '""",.,,.-- ,        ------- .. -• --•-,.   .. ,..,.'"""' ·--··------- .......--

CJ??9064 .J.3979-2 Ea le La cling Parkw,iy_
:00230632	J3965-1 EagleLanding Parkway "60230638	I3965:ZE;;gle Landi;:,gPark,,;;;y
roai:iaG4o	[396s:3E;;g1 L.;;;:,;;i;:,gr;;;k;:;;;;v····

s
...J s_
-----------s-- -

708J S	8,496
1,381 [  S   16,572
69 i S	828
52 '   S	624

,'602:ioG4i	ii 9js ;;tii i,;;;:,cli g ;;;_k;.;;;,; •.

..,... '  -  --- --	-	is.	1,404

,"6023064.:i    I·' ·3··-9·-·7··-9 Ea e  I   Lanidn- g_Par_kwa_y
, 023i o6 !410_8_:l_Ea leLanding Parkwa.y,_lrr ..,. 00233750	:1433-1 Eagle Landi g Parkway
,"ooS02768	I 2180 Club Lake Drive Reclaimed Irr

!	Pi ;;-Dri e

,"60502779   "i2319Club  LakeDrive Reclaimed Irr
;161   o·s·s61  ·:i'g·--  12-9·4 Autum -
]r-C·o-·n-t-in··g.enc.y....

s
_)3
Is s s s
Totalj S

272J s  _ 3,264
197 i      S	2,364
68  ls.	816
357	!ii	4,284
31   S	372

Js

35 :     S	420
1,922
4,208J S	58,418

Misc - Direct Costs

Represents any expenses not included in the other categories.

Security

The District has contracted with the Clay County Sheriffs Office for security.

6

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

Adopted
Budget		Actual
thm		Projected
Next		Total
Projected at		Approved
Budget	
Description	 	FY2020	5/31/20	4 Months	9/30/20	 	FY2021		
Revenues							

Carry Forward Surplus		$419,182	$416,367	$0	$416,367	$405,343	
Special Assessment- Tax Collector		$1,490,047	$1,472,193	$9,314	$1,481,507	$1,481,507	
Direct Invoices		$24,874	$24,874	$0	$24,874	$24,874	
Prepayments		$0	$16,647	$0	$16,647	$0	
Interest Income		$0	$11,054	$2,000	$13,054	$5,000	
TOTAL REVENUES		$1,934,103	$1,941,135	$11,314	$1,952,449	$1,916,724	

"'

Expenditures

   Series 2016 A1 - Refunding Bonds	
Interest -11/1	$187,803	$187,803	$0	$187,803	$181,703	
Special Call -11/1	$0	$10,000	$0	$10,000	$0	
Interest - 5/1	$187,803	$187,622	$0	$187,622	$181,703	
Principal - 5/1	$610,000	$610,000	$0	$610,000	$635,000	
Special Ca!t 5/1	$0	$20,000	$0	$20,000	$0	

   Series 2016 A1 - Revenue Bonds	
Interest - 11/1	$57,281	$57,281	$0	$57,281	$57,281	
Interest - 5/1	$57,281	$57,281	$0	$57,281	$57,281	

Interest -11/1	$95,245	$95,245	$0	$95,245	$91,439	
Special Call -11/1	$0	$5,000	$0	$5,000	$0	
Interest - 5/1	$95,245	$95,123	$0	$95,123	$91,439	
Principal - 5/1	$175,000	$175,000	$0	$175,000	$185,000	
Special Ca!l - 5/1	$0	$5,000	$0	$5,000	$0	

    Series 2016 A2 - Revenue Bonds		
Interest - 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			$1,507,409	$1,547,106	 	$0	$1,547,106	$1,522,596	
EXCESS REVENUES/(EXPENDITURES)		$426,694	$394,029	$11,314	$405,343	$394,128	
Carry Forward is net of Reserve requirement							

    Series 2016 A2 - Refunding Bonds	

"'
	Total Units	Debt Gross Per Unit Tax Roll	Gross Assessment	Net
Assessment		Interest 11/1/2021:		
						A1 Refunding	$175,503	
Platted Lots • 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	$87,415	
Platted Lot - Partial	 	1 	$597.53	$598	$562		A2 Revenue	$20 875	
Total Platted	 	1,132	 	$1,585,156	$1,490,047		$341,074	

7

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

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
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	
Total			$ 12,105,000.00	$3,750,993.78	$	15,855,993.78	

dRevised 5'1/19						

8

South Village	Amortization  Schedule

1111119	$	3,055,000.00	3.75%	$	$	57,281.25	$	57,281.25	
511120	$	3,055,000.00	3.75%	$	$	57,281.25	
1111120	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
511121	$	3,055,000.00	3.75%	$	$	57,281.25	
1111121	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
511122	$	3,055,000.00	3.75%	$	$	57,281.25	
1111122	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
511123	$	3,055,000.00	3.75%	$	$	57,281.25	
1111123	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
511124	$	3,055,000.00	3.75%	$	$	57,281.25	
1111124	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
511125	$	3,055,000.00	3.75%	$	$	57,281.25	
1111125	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
511126	$	3,055,000.00	3.75%	$	$	57,281.25	
1111126	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
511127	$	3,055,000.00	3.75%	$	$	57,281.25	
1111127	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
511128	$	3,055,000.00	3.75%	$	$	57,281.25	
1111128	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
511129	$	3,055,000.00	3.75%	$	$	57,281.25	
1111129	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
511130	$	3,055,000.00	3.75%	$	$	57,281.25	
1111/30	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/31	$	3,055,000.00	3.75%	$	$	57,281.25	
1111/31	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/32	$	3,055,000.00	3.75%	$	$	57,281.25	
11/1132	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
511133	$	3,055,000.00	3.75%	$	$	57,281.25	
1111133	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
511134	$	3,055,000.00	3.75%	$	$	57,281.25	
1111134	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
511135	$	3,055,000.00	3.75%	$	$	57,281.25	
1111135	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
511136	$	3,055,000.00	3.75%	$	980,000	$	57,281.25	
1111/36	$	2,075,000.00	3.75%	$	$	38,906.25	$	1,076,187.50	
511137	$	2,075,000.00	3.75%	$	1,020,000	$	38,906.25	
1111137	$	1,055,000.00	3.75%	$	$	19,781.25	$	1,078,687.50	
511138	$	1,055,000.00	3.75%	$	1,055,000	$	19,781.25	

Community Development District	Series  2016  A1,   Revenue  Bonds

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL

$	$	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 511/19

10

South Village	Amortization Schedule
Community Development District	Series  2016  A2,   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

11

South Village
Community Development District	Debt  Seivice Fund
Series 2016 A3

 	
Adopted		Actual		Projected		Total		Approved	
Budget		thru		Next		Projected at		Budget	

'"

,,,

Description	 	FY2020	 	5{31/20	4 Months	9/30120	FY2021	

Revenues		

Cany Forward Surplus	$184,535	$234,766	$0	$234,766	$162,541	
Special Assessment	$396,452	$350,393	$27,795	$378,188	$352,610	
Prepayments	$0	$89,700	$0	$89,700	$0	
Interest Income	$0	$2,862	$200	$3,062	$0	

TOTAL REVENUES	$580,987	$677,721	$27,995	$705,716	$515,151	
Expenditures

     Series 2016 A3 - Refunding Bonds	
Interest -11/1	$76,650	$74,913	$0	$74,913	$67,950	
Special Call -11/1	$0	$100,000	$0	$100,000	$0	
Interest - 2/1	$0	$644	$0	$644	$0	
Special Cal! - 2/1	$0	$45,000	$0	$45,000	$0	
Principal - 5/1	$105,000	$95,000	$0	$95,000	$0	
Interest - 5/1	$76,650	$70,713	$0	$70,713	$67,950	
Special Call - 5/1	$0	$35,000	$0	$35,000	$0	
Interest - 8/1	$0	$0	$206	$206	$76,650	
Special Call - 8/1	$0	$0	$15,000	$15,000	$0	

      Series  2016  A3 - Revenue Bonds		
lnterest-11/1	$53,350	$53,350	$0	$53,350	$53,350	
Interest - 5/1	$53,350	$53,350	$0	$53,350	$53,350	
 	TOTAL EXPENDITURES		$365,000	$527,969	$15,206	$543,175	$319,250	
EXCESS REVENUES/(EXPENDlTURES)	$215,987	$149,752	$12,789	$162,541	$195,901	

Carry Forward is net or Reserve rsquirnmenl						
				Interest 11/1/2021:		
				A3 Refunding	$65,200	
				A3 Revenue	$53 350	
					$118,550	

12

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

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
11/1/19	$	2,430,000.00	5.50%	$	$	70,562.50	$	70,562.50	
5/1/20	$	2,430,000.00	5.50%	$	95,000	$	67,950.00		
11/1/20	$	2,335,000.00	5.50%	$	$	67,950.00	$ 230,900.00	
511121	$	2,335,000.00	5.50%	$	100,000	$	65,200.00		
1111121	$	2,235,000.00	5.50%	$	$	65,200.00	$ 230,400.00	
511/22	$	2,235,000.00	5.50%	$	105,000	$	62,312.50		
1111/22	$	2,130,000.00	5.50%	$	$	62,312.50	$ 229,625.00	
5/1123	$	2,130,000.00	5.50%	$	115,000	$	59,150.00		
1111123	$	2,015,000.00	5.50%	$	$	59,150.00	$ 233,300.00	
511/24	$	2,015,000.00	5.50%	$	120,000	$	55,850.00		
11/1124	$	1,895,000.00	5.50%	$	$	55,850.00	$ 231,700.00	
511125	$	1,895,000.00	5.50%	$	125,000	$	52,412.50		
1111125	$	1,770,000.00	5.50%	$	$	52,412.50	$ 229,825.00	
511126	$	1,770,000.00	5.50%	$	135,000	$	48,700.00		
1111/26	$	1,635,000.00	5.50%	$	$	48,700.00	$ 232,400.00	
511/27	$	1,635,000.00	5.50%	$	140,000	$	44,850.00		
1111/27	$	1,495,000.00	6.00%	$	$	44,850.00	$ 229,700.00	
5/1128	$	1,495,000.00	6.00%	$	150,000	$	40,350.00		
11/1128	$	1,345,000.00	6.00%	$	$	40,350.00	$ 230,700.00	
511/29	$	1,345,000.00	6.00%	$	160,000	$	35,550.00		
1111129	$	1,185,000.00	6.00%	$	$	35,550.00	$ 231,100.00	
5/1130	$	1,185,000.00	6.00%	$	170,000	$	30,450.00		
1111130	$	1,015,000.00	6.00%	$	$	30,450.00	$ 230,900.00	
511131	$	1,015,000.00	6.00%	$	180,000	$	25,050.00		
11/1131	$	835,000.00	6.00%	$	$	25,050.00	$ 230,100.00	
511132	$	835,000.00	6.00%	$	190,000	$	19,350.00		
1111/32	$	645,000.00	6.00%	$	$	19,350.00	$ 228,700.00	
511133	$	645,000.00	6.00%	$	200,000	$	13,350.00		
1111133	$	445,000.00	6.00%	$	$	13,350.00	$ 226,700.00	
511/34	$	445,000.00	6.00%	$	215,000	$	6,900.00		
1111/34	$	230,000.00	6.00%	$	$	6,900.00	$ 228,800.00	
511135	$	230,000.00	6.00%	$	230,000
$	$	
$ 230,000.00	
 	Total				$ 2,430,000.00	$ 1,325,412.50	$3,755,412.50	

**Revised 11/1/19						

13

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

DATE		BALANCE	RATE		PRINCIPAL		INTEREST	TOTAL 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
11/1125	$	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
11/1/30	$	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
11/1/35	$	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
5/1/38	$	1,830,000.00	5.00%	$	165,000	$	45,750.00
11/1/38	$	1,665,000.00	5.00%	$	$	41,625.00	$	252,375.00
5/1/39	$	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
5/1/40	$	1,490,000.00	5.00%	$	185,000	$	37,250.00
11/1/40	$	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
11/1/44	$	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	
5/1/46	$	245,000.00	5.00%	$	245,000	$	6,125.00	$	251,125.00	
 	Total	$ 	2,140,000.00	$		2,352,500.00	$		4,492,500.00

14

South Village
Community Development District	Debt Service Fund
Series 2019

,,,

	Adopted
Budget		Actual
thru		Projected
Next		Total Projected at		Approved
Budget	
Description		FY2020		5/31/20		4 Months		9/30/20		FY2021	
Revenues							

Carry Forward Surplus	$0	$200,696	$0	$200,696	$139,777		
Special Assessment - Tax Collector	$106,332	$105,664	$8,382	$114,046	$223,713		
Direct Assessments - A	$117,384	$117,384	$0	$117,384	$0		
Direct Assessments - 8	$95,200	$40,600	$40,600	$81,200	$81,200		
Prepayments	$0	$244,737	$0	$244,737	$0		
Interest Income	$11,500	$1,927	$150	$2,077	$0		
TOTAL REVENUES	$330,416	$711,008	$49,132	$760,140	$444,690		

Expenditures

Series 2019A
!nterest-11/1	$87,940	$87,940	$0	$87,940	$86,871	
Principal - 5/1	$45,000	$45,000	$0	$45,000	$45,000	
Interest - 5/1	$87,405	$87,940	$0	$87,940	$86,871	
Series 20198						
lnterest-11/1	$47,600	$47,600	$0	$47,600	$40,600	
SpeciatCall-11/1	$0	$60,000	$0	$60,000	$0	
Interest - 2/1	$0	$2,660	$0	$2,660	$0	
Special Call - 2/1	$0	$190,000	$0	$190,000	$0	
Interest - 5/1	$47,600	$40,600	$0	$40,600	$40,600	
 	TOTAL EXPENDITURES		$315,545	$561,740	$0	$561,740	$299,943	
Other Sources/(Uses)						
nterfund Transfer ln/(Out)	$0	($2,528}	$0	($2,528)	$0	
 	TOTAL OTHER		$0	($2,528)	$0	!$2,528)	$0	
      EXCESS REVENUES/(EXPENOITURES) 	$14,871	$146,740	$49,132	$195,872	$144,747	

"'

Carry Forward is net of Reserve requirement
 	    Interest 11/1/2021:

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

Platted Lots - Full Debt
Total Platted	
 	jg
---1§.L	
$1,469.09	
$237,993	
$223,713		
			$237,993	$223,713		

 	
2019A	$85,674	
20198	$40 600	
	$126,274	

15

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

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	
5/1/19	$	3,255,000.00	$	$	41,038.67		
11/1/19	$	3,255,000.00	$	$	87,940.00	$	128,978.67	
5/1/20	$	3,255,000.00	$	45,000	$	87,940.00	$	
11/1/20	$	3,210,000 .00	$	$	86,871.25	$	174,811. 25	
5/1/21	$	3,210,000.00	$	50,000	$	86,871.25	$	
11/1/21	$	3,160,000.00	$	$	85,683.75	$	172,555.00	
5/1/22	$	3,160,000.00	$	50,000	$	85,683.75	$	
11/1/22	$	3,110,000.00	$	$	84,496. 25	$	170,180 .00	
5/1/23	$	3,110,000.00	$	55,000	$	84,496.25	$	
11/1/23	$	3,055,000.00	$	$	83,190.00	$	167,686.25	
5/1/24	$	3,055,000.00	$	55,000	$	83,190.00	$	
11/1/24	$	3,000,000.00	$	$	81,883.75	$	165,073.75	
5/1/25	$	3,000,000 .00	$	60,000	$	81,883 .75	$	
11/1/25	$	2,940,000.00	$	$	80,458.75	$	162,342.50	
5/1/26	$	2,940,000.00	$	60,000	$	80,458.75	$	
11/1/26	$	2,880,000.00	$	$	79,033.75	$	159,492.50	
5/1/27	$	2,880,000.00	$	65,000	$	79,033 .75	$	
11/1/27	$	2,815,000.00	$	$	77,490.00	$	156,523.75	
5/1/28	$	2,815,000.00	$	70,000	$	77,490 .00	$	
11/1/28	$	2,745,000.00	$	$	75,827.50	$	153,317.50	
5/1/29	$	2,745,000.00	$	70,000	$	75,827.50	$	
11/1/29	$	2,675,000 .00	$	$	74,165.00	$	149,992.50	
5/1/30	$	2,675,000.00	$	75,000	$	74,165.00	$	
11/1/30	$	2,600,000.00	$	$	72,121 .25	$	146,286.25	
5/1/31	$	2,600,000.00	$	80,000	$	72,121.25	$	
11/1/31	$	2,520,000 .00	$	$	69,941.25	$	142,062.50	
5/1/32	$	2,520,000.00	$	85,000	$	69,941.25	$	
11/1/32	$	2,435,000.00	$	$	67,625.00	$	137,566.25	
5/1/33	$	2,435,000.00	$	90,000	$	67,625.00	$	
11/1/33	$	2,345,000.00	$	$	65,172.50	$	132,797.50	
5/1/34	$	2,345,000.00	$	95,000	$	65,172.50	$	
11/1/34	$	2,250,000.00	$	$	62,583.75	$	127,756.25	
5/1/35	$	2,250,000.00	$	100,000	$	62,583.75	$	
11/1/35	$	2,150,000.00	$	$	59,858.75	$	122,442 .50	
5/1/36	$	2,150,000.00	$	105,000	$	59,858.75	$	
11/1/36	$	2,045,000.00	$	$	56,997.50	$	116,856.25	
5/1/37	$	2,045, 000.00	$	110,0 00	$	56,997.50	$	
11/1/37	$	1,935,000 .00	$	$	54,000.00	$	110,997.50	
5/1/38	$	1,935,000 .00	$	115,000	$	54,000.00	$	
11/1/38	$	1,820,000.00	$	$	50,866.25	$	104,866.25	
5/1/39	$	1,820,000.00	$	125,000	$	50,866.25	$	
11/1/39	$	1,695 ,000.00	$	$	47,460.00	$	98,326.25	
5/1/40	$	1,695,000.00	$	130,000	$	47,460.00	$	
11/1/40	$	1,565,000 .00	$	$	43,820 .00	$	91,280.00	
5/1/41	$	1,565 ,000.0.0	$	140,000	$	43,820.00	$	
11/1/41	$	1,425 ,000.00	$	$	39,900.00	$	83,720.00	
5/1/42	$	1,425,000 .00	$	145,000	$	39,900.00	$	
11/1/42	$	1,280,000 .00	$	$	35,840.00	$	75,740 .00	
5/1/43	$	1,280,0 00.00	$	155,000	$	35,840.00	$	
11/1/43	$	1,125,000.00	$	$	31,500.00	$	67,340.00	
5/1/44	$	1,125,000 .00	$	165,000	$	31,500.00	$	
11/1/44	$	960,000 .00	$	$	26,880.00	$	58,380.00	
5/1/45	$	960,000.00	$	170,000	$	26,880.00	$	
11/1/45	$	790,000.00	$	$	22,120.00	$	49,000.00	
5/1/46	$	790,000 .00	$	180,0 00	$	22,120.00	$	
11/1/46	$	610,000 .00	$	$	17,080.00	$	39,200.00	
5/1/47	$	610,000.00	$	190,000	$	17,08 0.00	$	
11/1/47	$	420 ,0 00.00	$	$	11,760.00	$	28,840.00	
5/1/48	$	420,000.00	$	205,000	$	11,760.00	$	
11/1/48	$	215,000.00	$	$	6,020.00	$	17,780.00	
5/1/49	$	215,000.00	$	215,000	$	6,020.00	$	
Total		$	3,255,000 .00	$	3,518,211.17	$	3 512,191,17	

16

South Village
Community Development District

Amortization Schedule
Series 2019B, Capital Improvement Bonds

 	DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL

5/1/19	$	1,700,000.00		$	$	22,213.33	$	22,213.33	
11/1/19	$	1,700,000.00	5.60%	$	60,000	$	2,660.00	$	62,660.00	
2/1/20	$	1,640,000.00	5.60%	$	190,000	$		
5/1/20	$	1,450,000.00	5.60%	$	$	40,600.00		
11/1/20	$	1,450,000.00	5.60%	$	$	40,600.00	$	81,200.00	
5/1/21	$	1,450,000.00	5.60%	$	$	40,600.00		
11/1/21	$	1,450,000.00	5.60%	$	$	40,600.00	$	81,200.00	
5/1/22	$	1,450,000.00	5.60%	$	$	40,600.00		
11/1/22	$	1,450,000.00	5.60%	$	$	40,600.00	$	81,200.00	
5/1/23	$	1,450,000.00	5.60%	$	$	40,600.00		
11/1/23	$	1,450,000.00	5.60%	$	$	40,600.00	$	81,200.00	
5/1/24	$	1,450,000.00	5.60%	$	$	40,600.00		
11/1/24	$	1,450,000.00	5.60%	$	$	40,600.00	$	81,200.00	
5/1/25	$	1,450,000.00	5.60%	$	$	40,600.00		
11/1/25	$	1,450,000.00	5.60%	$	$	40,600.00	$	81,200.00	
5/1/26	$ 1,450,000.00	5.60%	$	$	40,600.00		
11/1/26	$ 1,450,000.00	5.60%	$	$	40,600.00	$	81,200.00	
5/1/27	$	1,450,000.00	5.60%	$	$	40,600.00		
11/1/27	$	1,450,000.00	5.60%	$	$	40,600.00	$	81,200.00	
5/1/28	$	1,450,000.00	5.60%	$	1,450,000.00	$	40,600.00	$	1,490,600.00	

 	Total		$      1,700,000.00	$		715,073.33	$		2,225,073.33

17