Approved Budget
Fiscal Year 2022

South Village Community Development District

June 1, 2021

South Village	General Fund
Community Development District

	Adopted Budget		Actual thru		Projected Next		Total Projected at		Approved Budget	
 	Description		 	FY2021			 	4/30/21			 	5 Months			 	9/30/21			 	FY2022		
Revenues										
Maintenance Assessments - Tax Collector	$698,384		$699,718		$0		$699,718		$845,885	
Maintenance Assessments - Direct	$2,262		$1,267		$0		$1,267		$0	
Interest Income	$5,000		$497		$250		$747		$0	
Carry Forward Surplus	$0		$204,621		$0		$204,621		$145,000	
Total Revenues	 	$705,646 		 	$906,103 		 	$250 		 	$906,353 		 	$990,885 	

Expenditures
Administrative		
Supervisors Fees	$14,000		$8,000		$4,000		$12,000		$14,000	
FICA Taxes	$1,071		$612		$306		$918		$1,071	
Engineering	$15,000		$6,536		$6,536		$13,071		$15,000	
Arbitrage	$1,800		$0		$1,800		$1,800		$1,800	
Dissemination Agent	$8,500		$4,958		$3,541		$8,499		$8,500	
Assessment Roll	$5,300		$5,300		$0		$5,300		$5,300	
Attorney	$40,000		$24,101		$24,101		$48,202		$40,000	
Annual Audit	$7,000		$0		$7,000		$7,000		$7,250	
Trustee	$17,000		$4,041		$12,102		$16,143		$17,000	
Management Fees	$52,000		$30,333		$21,666		$51,999		$52,000	
Computer Time	$1,000		$500		$500		$1,000		$1,000	
Telephone	$1,000		$1,107		$791		$1,898		$1,500	
Postage	$1,500		$205		$146		$351		$1,000	
Insurance	$7,200		$17,746		$0		$17,746		$17,620	
Printing & Binding	$2,000		$654		$467		$1,121		$2,000	
Legal Advertising	$4,000		$474		$1,500		$1,974		$4,000	
Other Current Charges	$3,000		$2,225		$1,589		$3,814		$3,500	
Office Supplies	$100		$197		$141		$338		$100	
Dues, Licenses, Subscriptions	$175		$175		$0		$175		$175	
Contingency	$500		$0		$500		$500		$500	
Sub-Total - Administrative Expenses	 	$182,146 		 	$107,163 		 	$86,687 		 	$193,850 		 	$193,316 	
Community Appearance										
Utilities	$95,000		$43,013		$30,724		$73,737		$85,000	
Interlocal Agreement - MVCDD	$36,000		$28,477		$9,492		$37,969		$36,000	
Facility & Grounds Maintenance (Labor)	$22,000		$0		$15,000		$15,000		$20,000	
Landscape - Contract	$178,000		$90,719		$64,799		$155,518		$171,069	
Landscape - Contingency	$30,000		$7,150		$8,000		$15,150		$20,000	
Landscape - Irrigation Repairs	$10,500		$695		$5,000		$5,695		$10,500	
Lake - Contract	$35,000		$16,060		$11,050		$27,110		$35,000	
Phase 5&6 Maintenance	$75,000		$23,471		$16,765		$40,236		$60,000	
Miscellaneous - Direct Cost	$15,000		$0		$10,000		$10,000		$10,000	
Security	$27,000		$23,403		$16,716		$40,119		$40,000	
Cottage Lots - Expenses	$0		$7,444		$5,317		$12,760		$20,000	
Cottage Lots - Purchase	$0		$275,000		$0		$275,000		$145,000	
Sub-Total - Community Appearance	 	$523,500 		 	$515,431 		 	$192,863 		 	$708,294 		 	$652,569 	

TOTAL EXPENDITURES	$705,646	$622,594	$279,550	$902,144	$845,885

EXCESS REVENUES/(EXPENDITURES)	$0	$283,509	($279,300)	$4,209	$145,000

1

South Village
Community Development District

Platted Lots	FY 2021	FY 2022	

Assessments - Platted Lots	
1494	
1494	
Net-Assessment Rate	$1,104.50	$1,104.50	
Total Net Assessments - Tax Collector	$1,650,123	$1,650,123	
Gross Assessment (6% Discounts/Collections)	$1,755,450	$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	$845,885	
Recreation Fund	$804,238	
	$1,650,123	

2

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/A2 and 2019A/B, 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/A2 and 2019A/B 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

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

Community Appearance
Interlocal 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 $12,959.81 per month, or $155,517.72 annually. Amount budgeted includes a contingency.

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 $2,210 per month, or $26,520 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

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

Account #	Service Address	Monthly	Annually

00213095	3924-1 Eagle Landing Pkwy	$	415	$	4,980	
00213119	3988-1 Eagle Landing Parkway	$	126	$	1,512	
00215602	3968-1 Eagle Landing Parkway	$	162	$	1,944	
00220803	3973 Eagle Landing Parkway	$	110	$	1,320	
00222067	3989 Eagle Landing Parkway	$	108	$	1,296	
00229064	3979-2 Eagle Landing Parkway	$	708	$	8,496	
00230632	3965-1 Eagle Landing Parkway	$	1,381	$	16,572	
00230638	3965-2 Eagle Landing Parkway	$	69	$	828	
00230640	3965-3 Eagle Landing Parkway	$	52	$	624	
00230641	3975 Eagle Landing Parkway	$	117	$	1,404	
00230642	3979 Eagle Landing Parkway	$	272	$	3,264	
00235500	4108-1 Eagle Landing Parkway Irr	$	197	$	2,364	
00233750	1433-1 Eagle Landing Parkway	$	68	$	816	
00502768	2180 Club Lake Drive Reclaimed Irr	$	357	$	4,284	
00502779	2319 Club Lake Drive Reclaimed Irr	$	31	$	372	
00556739	1294 Autumn Pines Drive	$	35	$	420	
	Contingency		$	7,922	
	Total	$	4,208	$	58,418	

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.

6

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

	Adopted
Budget		Actual
thru		Projected
Next		Total
Projected at		Approved
Budget	
 Description			FY2021		4/30/21		5 Months		9/30/21		FY2022	

Revenues											
Carry Forward Surplus		$431,923		$440,578		$0		$440,578		$395,990	
Special Assessment - Tax Collector		$1,481,507		$1,459,732		$19,012		$1,478,744		$1,478,744	
Direct Invoices		$24,874		$0		$0		$0		$24,874	
Prepayments		$0		$327,351		$0		$327,351		$0	
Interest Income		$5,000		$61		$0		$61		$0	
TOTAL REVENUES		$1,943,304		$2,227,722		$19,012		$2,246,734		$1,899,608	

(1)

Expenditures

Series 2016 A1 - Refunding Bonds
Interest - 11/1	$181,169	$181,169	$0	$181,169	$174,969	
Special Call - 11/1	$0	$15,000	$0	$15,000	$0	
Interest - 5/1	$181,169	$0	$180,969	$180,969	$174,969	
Principal - 5/1	$620,000	$0	$620,000	$620,000	$620,000	
Special Call - 5/1	$0	$0	$245,000	$245,000	$0	

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

Series 2016 A2 - Refunding Bonds
Interest - 11/1	$91,439	$91,333	$0	$91,333	$87,309	
Special Call - 11/1	$0	$5,000	$0	$5,000	$0	
Interest - 5/1	$91,439	$0	$91,211	$91,211	$87,309	
Principal - 5/1	$185,000	$0	$185,000	$185,000	$190,000	
Special Call - 5/1	$0	$0	$80,000	$80,000	$0	

Series 2016 A2 - Revenue Bonds						
Interest - 11/1		$20,875		$20,750		$0		$20,750		$20,750	
Interest - 5/1		$20,875		$0		$20,750		$20,750		$20,750	
TOTAL EXPENDITURES		$1,506,528		$370,533		$1,480,211		$1,850,744		$1,490,619	

EXCESS REVENUES/(EXPENDITURES)	$436,777	$1,857,189	($1,461,199)	$395,990	$408,989
 	 	 	 	 	
(1) Carry Forward is net of Reserve requirement

	Total Debt Gross Per	Gross	Net	
	Units	Unit Tax Roll	Assessment	Assessment	
Platted Lots - Full Debt	1072	$1,470.05	$1,575,894	$1,481,340	
Platted Lots - No 2005A Debt	59	$146.87	$8,665	$8,145	
Platted Lot - Partial	 	1	$597.53	 	$598 	$562	
Total Platted	     1,132 	 	$1,585,156 	$1,490,047	

Interest 11/1/2022:

A1 Refunding	$168,222
A1 Revenue	$57,281
A2 Refunding	$83,177
A2 Revenue	$20,750
$329,430

7

Community Development District	Series 2016 A1, Refunding Bonds

 	DATE 		 	BALANCE			 	RATE			 	PRINCIPAL			 	INTEREST			 	TOTAL		
11/1/21		$10,605,000.00		2.00%		$0.00		$174,968.75		$174,968.75	
5/1/22		$10,605,000.00		2.00%		$620,000.00		$174,968.75			
11/1/22		$9,985,000.00		2.13%		$0.00		$168,221.88		$963,190.63	
5/1/23		$9,985,000.00		2.13%		$635,000.00		$168,221.88			
11/1/23		$9,350,000.00		2.38%		$0.00		$160,503.13		$963,725.01	
5/1/24		$9,350,000.00		2.38%		$650,000.00		$160,503.13			
11/1/24		$8,700,000.00		2.50%		$0.00		$152,190.63		$962,693.76	
5/1/25		$8,700,000.00		2.50%		$665,000.00		$152,190.63			
11/1/25		$8,035,000.00		2.75%		$0.00		$142,840.63		$960,031.26	
5/1/26		$8,035,000.00		2.75%		$685,000.00		$142,840.63			
11/1/26		$7,350,000.00		3.00%		$0.00		$132,340.63		$960,181.26	
5/1/27		$7,350,000.00		3.00%		$705,000.00		$132,340.63			
11/1/27		$6,645,000.00		3.25%		$0.00		$120,559.38		$957,900.01	
5/1/28		$6,645,000.00		3.25%		$730,000.00		$120,559.38			
11/1/28		$5,915,000.00		3.50%		$0.00		$107,434.38		$957,993.76	
5/1/29		$5,915,000.00		3.50%		$760,000.00		$107,434.38			
11/1/29		$5,155,000.00		3.50%		$0.00		$93,871.88		$961,306.26	
5/1/30		$5,155,000.00		3.50%		$785,000.00		$93,871.88			
11/1/30		$4,370,000.00		3.50%		$0.00		$79,871.88		$958,743.76	
5/1/31		$4,370,000.00		3.50%		$815,000.00		$79,871.88			
11/1/31		$3,555,000.00		3.50%		$0.00		$65,346.88		$960,218.76	
5/1/32		$3,555,000.00		3.50%		$840,000.00		$65,346.88			
11/1/32		$2,715,000.00		3.63%		$0.00		$50,296.88		$955,643.76	
5/1/33		$2,715,000.00		3.63%		$870,000.00		$50,296.88			
11/1/33		$1,845,000.00		3.63%		$0.00		$34,165.63		$954,462.51	
5/1/34		$1,845,000.00		3.63%		$905,000.00		$34,165.63			
11/1/34		$940,000.00		3.63%		$0.00		$17,400.00		$956,565.63	
5/1/35		$940,000.00		3.63%		$940,000.00		$17,400.00			
						 	$0.00 		 			 	$957,400.00 	
 	Total							 	$10,605,000.00 		 	$3,000,025.12 		 	$13,605,025.12 	

**Revised 5/1/21											

8

Community Development District	Series 2016 A1, Revenue Bonds

 	DATE 		 	BALANCE			 	RATE			 	PRINCIPAL			 	INTEREST			 	TOTAL		
11/1/21		$3,055,000.00		3.75%		$0.00		$57,281.25		$57,281.25	
5/1/22		$3,055,000.00		3.75%		$0.00		$57,281.25			
11/1/22		$3,055,000.00		3.75%		$0.00		$57,281.25		$114,562.50	
5/1/23		$3,055,000.00		3.75%		$0.00		$57,281.25			
11/1/23		$3,055,000.00		3.75%		$0.00		$57,281.25		$114,562.50	
5/1/24		$3,055,000.00		3.75%		$0.00		$57,281.25			
11/1/24		$3,055,000.00		3.75%		$0.00		$57,281.25		$114,562.50	
5/1/25		$3,055,000.00		3.75%		$0.00		$57,281.25			
11/1/25		$3,055,000.00		3.75%		$0.00		$57,281.25		$114,562.50	
5/1/26		$3,055,000.00		3.75%		$0.00		$57,281.25			
11/1/26		$3,055,000.00		3.75%		$0.00		$57,281.25		$114,562.50	
5/1/27		$3,055,000.00		3.75%		$0.00		$57,281.25			
11/1/27		$3,055,000.00		3.75%		$0.00		$57,281.25		$114,562.50	
5/1/28		$3,055,000.00		3.75%		$0.00		$57,281.25			
11/1/28		$3,055,000.00		3.75%		$0.00		$57,281.25		$114,562.50	
5/1/29		$3,055,000.00		3.75%		$0.00		$57,281.25			
11/1/29		$3,055,000.00		3.75%		$0.00		$57,281.25		$114,562.50	
5/1/30		$3,055,000.00		3.75%		$0.00		$57,281.25			
11/1/30		$3,055,000.00		3.75%		$0.00		$57,281.25		$114,562.50	
5/1/31		$3,055,000.00		3.75%		$0.00		$57,281.25			
11/1/31		$3,055,000.00		3.75%		$0.00		$57,281.25		$114,562.50	
5/1/32		$3,055,000.00		3.75%		$0.00		$57,281.25			
11/1/32		$3,055,000.00		3.75%		$0.00		$57,281.25		$114,562.50	
5/1/33		$3,055,000.00		3.75%		$0.00		$57,281.25			
11/1/33		$3,055,000.00		3.75%		$0.00		$57,281.25		$114,562.50	
5/1/34		$3,055,000.00		3.75%		$0.00		$57,281.25			
11/1/34		$3,055,000.00		3.75%		$0.00		$57,281.25		$114,562.50	
5/1/35		$3,055,000.00		3.75%		$0.00		$57,281.25			
11/1/35		$3,055,000.00		3.75%		$0.00		$57,281.25		$114,562.50	
5/1/36		$3,055,000.00		3.75%		$975,000.00		$57,281.25			
11/1/36		$2,080,000.00		3.75%		$0.00		$39,000.00		$1,071,281.25	
5/1/37		$2,080,000.00		3.75%		$1,010,000.00		$39,000.00			
11/1/37		$1,070,000.00		3.75%		$0.00		$20,062.50		$1,069,062.50	
5/1/38		$1,070,000.00		3.75%		$1,050,000.00		$20,062.50			
						 			 			 	$1,070,062.50 	
 	Total							 	$3,035,000.00 		 	$1,836,562.50 		 	$4,871,562.50 	

9

Community Development District	Series 2016 A2, Refunding Bonds

 	DATE 		 	BALANCE			 	RATE			 	PRINCIPAL			 	INTEREST			 	TOTAL		
11/1/20		$3,875,000.00		4.35%		$0.00		$91,333.13		$91,333.13	
5/1/21		$3,875,000.00		4.35%		$185,000.00		$91,333.13			
11/1/21		$3,690,000.00		4.35%		$0.00		$87,309.38		$363,642.51	
5/1/22		$3,690,000.00		4.35%		$190,000.00		$87,309.38			
11/1/22		$3,500,000.00		4.35%		$0.00		$83,176.88		$360,486.26	
5/1/23		$3,500,000.00		4.35%		$200,000.00		$83,176.88			
11/1/23		$3,300,000.00		4.35%		$0.00		$78,826.88		$362,003.76	
5/1/24		$3,300,000.00		4.35%		$210,000.00		$78,826.88			
11/1/24		$3,090,000.00		4.35%		$0.00		$74,259.38		$363,086.26	
5/1/25		$3,090,000.00		4.35%		$220,000.00		$74,259.38			
11/1/25		$2,870,000.00		4.35%		$0.00		$69,474.38		$363,733.76	
5/1/26		$2,870,000.00		4.35%		$230,000.00		$69,474.38			
11/1/26		$2,640,000.00		4.35%		$0.00		$64,471.88		$363,946.26	
5/1/27		$2,640,000.00		4.88%		$240,000.00		$64,471.88			
11/1/27		$2,400,000.00		4.88%		$0.00		$58,621.88		$363,093.76	
5/1/28		$2,400,000.00		4.88%		$250,000.00		$58,621.88			
11/1/28		$2,150,000.00		4.88%		$0.00		$52,528.13		$361,150.01	
5/1/29		$2,150,000.00		4.88%		$265,000.00		$52,528.13			
11/1/29		$1,885,000.00		4.88%		$0.00		$46,068.75		$363,596.88	
5/1/30		$1,885,000.00		4.88%		$280,000.00		$46,068.75			
11/1/30		$1,605,000.00		4.88%		$0.00		$39,243.75		$365,312.50	
5/1/31		$1,605,000.00		4.88%		$290,000.00		$39,243.75			
11/1/31		$1,315,000.00		4.88%		$0.00		$32,175.00		$361,418.75	
5/1/32		$1,315,000.00		4.88%		$305,000.00		$32,175.00			
11/1/32		$1,010,000.00		4.88%		$0.00		$24,740.63		$361,915.63	
5/1/33		$1,010,000.00		4.88%		$320,000.00		$24,740.63			
11/1/33		$690,000.00		4.88%		$0.00		$16,940.63		$361,681.26	
5/1/34		$690,000.00		4.88%		$335,000.00		$16,940.63			
11/1/34		$355,000.00		4.88%		$0.00		$8,653.13		$360,593.76	
5/1/35		$355,000.00		4.88%		$355,000.00		$8,653.13			
						 	$0.00 		 			 	$363,653.13 	
 	Total							 	$3,875,000.00 		 	$1,655,647.62 		 	$5,530,647.62 	

**Revised 11/1/2020											

10

Community Development District	Series 2016 A2, Revenue Bonds

 	DATE 		 	BALANCE			 	RATE			 	PRINCIPAL			 	INTEREST			 	TOTAL		
11/1/20		$830,000.00		5.00%		$0.00		$20,750.00		$20,750.00	
5/1/21		$830,000.00		5.00%		$0.00		$20,750.00			
11/1/21		$830,000.00		5.00%		$0.00		$20,750.00		$41,500.00	
5/1/22		$830,000.00		5.00%		$0.00		$20,750.00			
11/1/22		$830,000.00		5.00%		$0.00		$20,750.00		$41,500.00	
5/1/23		$830,000.00		5.00%		$0.00		$20,750.00			
11/1/23		$830,000.00		5.00%		$0.00		$20,750.00		$41,500.00	
5/1/24		$830,000.00		5.00%		$0.00		$20,750.00			
11/1/24		$830,000.00		5.00%		$0.00		$20,750.00		$41,500.00	
5/1/25		$830,000.00		5.00%		$0.00		$20,750.00			
11/1/25		$830,000.00		5.00%		$0.00		$20,750.00		$41,500.00	
5/1/26		$830,000.00		5.00%		$0.00		$20,750.00			
11/1/26		$830,000.00		5.00%		$0.00		$20,750.00		$41,500.00	
5/1/27		$830,000.00		5.00%		$0.00		$20,750.00			
11/1/27		$830,000.00		5.00%		$0.00		$20,750.00		$41,500.00	
5/1/28		$830,000.00		5.00%		$0.00		$20,750.00			
11/1/28		$830,000.00		5.00%		$0.00		$20,750.00		$41,500.00	
5/1/29		$830,000.00		5.00%		$0.00		$20,750.00			
11/1/29		$830,000.00		5.00%		$0.00		$20,750.00		$41,500.00	
5/1/30		$830,000.00		5.00%		$0.00		$20,750.00			
11/1/30		$830,000.00		5.00%		$0.00		$20,750.00		$41,500.00	
5/1/31		$830,000.00		5.00%		$0.00		$20,750.00			
11/1/31		$830,000.00		5.00%		$0.00		$20,750.00		$41,500.00	
5/1/32		$830,000.00		5.00%		$0.00		$20,750.00			
11/1/32		$830,000.00		5.00%		$0.00		$20,750.00		$41,500.00	
5/1/33		$830,000.00		5.00%		$0.00		$20,750.00			
11/1/33		$830,000.00		5.00%		$0.00		$20,750.00		$41,500.00	
5/1/34		$830,000.00		5.00%		$0.00		$20,750.00			
11/1/34		$830,000.00		5.00%		$0.00		$20,750.00		$41,500.00	
5/1/35		$830,000.00		5.00%		$0.00		$20,750.00			
11/1/35		$830,000.00		5.00%		$0.00		$20,750.00		$41,500.00	
5/1/36		$830,000.00		5.00%		$265,000.00		$20,750.00			
11/1/36		$565,000.00		5.00%		$0.00		$14,125.00		$299,875.00	
5/1/37		$565,000.00		5.00%		$275,000.00		$14,125.00			
11/1/37		$290,000.00		5.00%		$0.00		$7,250.00		$296,375.00	
5/1/38		$290,000.00		5.00%		$290,000.00		$7,250.00			
								 			 	$297,250.00 	
 	Total							 	$830,000.00 		 	$706,750.00 		 	$1,536,750.00 	

11

South Village
Community Development District	Debt Service Fund
Series 2016 A3 Refuning Bonds

	Adopted
Budget		Actual
thru		Projected
Next		Total
Projected at		Approved
Budget	
 Description			FY2021		4/30/21		5 Months		9/30/21		FY2022	

Revenues											
Carry Forward Surplus	$152,064		$264,904		$0		$264,904		$195,081	
Special Assessment	$352,610		$327,962		$4,271		$332,233		$332,233	
Prepayments	$0		$251,633		$0		$251,633		$0	
Interest Income	$0		$17		$0		$17		$0	
TOTAL REVENUES	$504,674		$844,516		$4,271		$848,787		$527,315	

(1)

(1)

Expenditures

Series 2016 A3 - Refunding Bonds

Interest - 11/1	$66,050	$66,200	$0	$66,200	$53,963	
Special Call - 11/1	$0	$130,000	$0	$130,000	$0	
Interest - 2/1	$0	$1,606	$0	$1,606	$0	
Special Call - 2/1	$0	$110,000	$0	$110,000	$0	
Principal - 5/1	$100,000	$0	$90,000	$90,000	$90,000	
Interest - 5/1	$66,050	$0	$59,200	$59,200	$53,963	
Special Call - 5/1	$0	$0	$90,000	$90,000	$0	

Series 2016 A3 - Revenue Bonds						
Interest - 11/1	$53,350		$53,350		$0	$53,350	$53,350	
Interest - 5/1	$53,350		$0		$53,350	$53,350	$53,350	
TOTAL EXPENDITURES	$338,800		$361,156		$292,550	$653,706	$304,625	
								
EXCESS REVENUES/(EXPENDITURES)	$165,874		$483,360		($288,279)	$195,081	$222,690	

Carry Forward is net of Reserve requirement								
						Interest 11/1/2022:		
						A3 Refunding	$51,488	
						A3 Revenue	$53,350	
							$104,838	

12

Community Development District	Series 2016 A3, Refunding Bonds

 	DATE			 	BALANCE			 	RATE			 	PRINCIPAL			 	INTEREST			 	TOTAL		
11/1/21		$2,300,000.00		5.50%		$0.00		$53,962.50		$53,962.50	
5/1/22		$2,300,000.00		5.50%		$90,000.00		$53,962.50			
11/1/22		$2,210,000.00		5.50%		$0.00		$51,487.50		$195,450.00	
5/1/23		$2,210,000.00		5.50%		$95,000.00		$51,487.50			
11/1/23		$2,115,000.00		5.50%		$0.00		$48,875.00		$195,362.50	
5/1/24		$2,115,000.00		5.50%		$100,000.00		$48,875.00			
11/1/24		$2,015,000.00		5.50%		$0.00		$46,125.00		$195,000.00	
5/1/25		$2,015,000.00		5.50%		$105,000.00		$46,125.00			
11/1/25		$1,910,000.00		5.50%		$0.00		$43,237.50		$194,362.50	
5/1/26		$1,910,000.00		5.50%		$110,000.00		$43,237.50			
11/1/26		$1,800,000.00		5.50%		$0.00		$40,212.50		$193,450.00	
5/1/27		$1,800,000.00		5.50%		$115,000.00		$40,212.50			
11/1/27		$1,685,000.00		6.00%		$0.00		$37,050.00		$192,262.50	
5/1/28		$1,685,000.00		6.00%		$125,000.00		$37,050.00			
11/1/28		$1,560,000.00		6.00%		$0.00		$33,300.00		$195,350.00	
5/1/29		$1,560,000.00		6.00%		$130,000.00		$33,300.00			
11/1/29		$1,430,000.00		6.00%		$0.00		$29,400.00		$192,700.00	
5/1/30		$1,430,000.00		6.00%		$140,000.00		$29,400.00			
11/1/30		$1,290,000.00		6.00%		$0.00		$25,200.00		$194,600.00	
5/1/31		$1,290,000.00		6.00%		$150,000.00		$25,200.00			
11/1/31		$1,140,000.00		6.00%		$0.00		$20,700.00		$195,900.00	
5/1/32		$1,140,000.00		6.00%		$160,000.00		$20,700.00			
11/1/32		$980,000.00		6.00%		$0.00		$15,900.00		$196,600.00	
5/1/33		$980,000.00		6.00%		$165,000.00		$15,900.00			
11/1/33		$815,000.00		6.00%		$0.00		$10,950.00		$191,850.00	
5/1/34		$815,000.00		6.00%		$175,000.00		$10,950.00			
11/1/34		$640,000.00		6.00%		$0.00		$5,700.00		$191,650.00	
5/1/35		$640,000.00		6.00%		$190,000.00		$5,700.00			
						$0.00				$195,700.00	
Total						$1,850,000.00		$924,200.00		$2,774,200.00	

**Revised 5/1/2021

13

Community Development District	Series 2016 A3, Revenue Bonds

 	DATE			 	BALANCE			 	RATE			 	PRINCIPAL			 	INTEREST			 	TOTAL		
11/1/21		$2,140,000.00		5.00%		$0.00		$53,500.00		$53,500.00	
5/1/22		$2,140,000.00		5.00%		$0.00		$53,500.00			
11/1/22		$2,140,000.00		5.00%		$0.00		$53,500.00		$107,000.00	
5/1/23		$2,140,000.00		5.00%		$0.00		$53,500.00			
11/1/23		$2,140,000.00		5.00%		$0.00		$53,500.00		$107,000.00	
5/1/24		$2,140,000.00		5.00%		$0.00		$53,500.00			
11/1/24		$2,140,000.00		5.00%		$0.00		$53,500.00		$107,000.00	
5/1/25		$2,140,000.00		5.00%		$0.00		$53,500.00			
11/1/25		$2,140,000.00		5.00%		$0.00		$53,500.00		$107,000.00	
5/1/26		$2,140,000.00		5.00%		$0.00		$53,500.00			
11/1/26		$2,140,000.00		5.00%		$0.00		$53,500.00		$107,000.00	
5/1/27		$2,140,000.00		5.00%		$0.00		$53,500.00			
11/1/27		$2,140,000.00		5.00%		$0.00		$53,500.00		$107,000.00	
5/1/28		$2,140,000.00		5.00%		$0.00		$53,500.00			
11/1/28		$2,140,000.00		5.00%		$0.00		$53,500.00		$107,000.00	
5/1/29		$2,140,000.00		5.00%		$0.00		$53,500.00			
11/1/29		$2,140,000.00		5.00%		$0.00		$53,500.00		$107,000.00	
5/1/30		$2,140,000.00		5.00%		$0.00		$53,500.00			
11/1/30		$2,140,000.00		5.00%		$0.00		$53,500.00		$107,000.00	
5/1/31		$2,140,000.00		5.00%		$0.00		$53,500.00			
11/1/31		$2,140,000.00		5.00%		$0.00		$53,500.00		$107,000.00	
5/1/32		$2,140,000.00		5.00%		$0.00		$53,500.00			
11/1/32		$2,140,000.00		5.00%		$0.00		$53,500.00		$107,000.00	
5/1/33		$2,140,000.00		5.00%		$0.00		$53,500.00			
11/1/33		$2,140,000.00		5.00%		$0.00		$53,500.00		$107,000.00	
5/1/34		$2,140,000.00		5.00%		$0.00		$53,500.00			
11/1/34		$2,140,000.00		5.00%		$0.00		$53,500.00		$107,000.00	
5/1/35		$2,140,000.00		5.00%		$0.00		$53,500.00			
11/1/35		$2,140,000.00		5.00%		$0.00		$53,500.00		$107,000.00	
5/1/36		$2,140,000.00		5.00%		$150,000.00		$53,500.00			
11/1/36		$1,990,000.00		5.00%		$0.00		$49,750.00		$253,250.00	
5/1/37		$1,990,000.00		5.00%		$160,000.00		$49,750.00			
11/1/37		$1,830,000.00		5.00%		$0.00		$45,750.00		$255,500.00	
5/1/38		$1,830,000.00		5.00%		$165,000.00		$45,750.00			
11/1/38		$1,665,000.00		5.00%		$0.00		$41,625.00		$252,375.00	
5/1/39		$1,665,000.00		5.00%		$175,000.00		$41,625.00			
11/1/39		$1,490,000.00		5.00%		$0.00		$37,250.00		$253,875.00	
5/1/40		$1,490,000.00		5.00%		$185,000.00		$37,250.00			
11/1/40		$1,305,000.00		5.00%		$0.00		$32,625.00		$254,875.00	
5/1/41		$1,305,000.00		5.00%		$190,000.00		$32,625.00			
11/1/41		$1,115,000.00		5.00%		$0.00		$27,875.00		$250,500.00	
5/1/42		$1,115,000.00		5.00%		$200,000.00		$27,875.00			
11/1/42		$915,000.00		5.00%		$0.00		$22,875.00		$250,750.00	
5/1/43		$915,000.00		5.00%		$210,000.00		$22,875.00			
11/1/43		$705,000.00		5.00%		$0.00		$17,625.00		$250,500.00	
5/1/44		$705,000.00		5.00%		$225,000.00		$17,625.00			
11/1/44		$480,000.00		5.00%		$0.00		$12,000.00		$254,625.00	
5/1/45		$480,000.00		5.00%		$235,000.00		$12,000.00			
11/1/45		$245,000.00		5.00%		$0.00		$6,125.00		$253,125.00	
5/1/46		$245,000.00		5.00%		$245,000.00		$6,125.00		$251,125.00	
 	Total							 	$2,140,000.00 		 	$2,192,000.00 		 	$4,332,000.00 	

14

South Village
Community Development District	Debt Service Fund
Series 2019 A & B,  Capital Improvement Bonds

	Adopted
Budget		Actual
thru		Projected
Next		Total
Projected at		Approved
Budget	
 Description			FY2021		4/30/21		5 Months		9/30/21		FY2022	

Revenues											
Carry Forward Surplus		$271,083		$222,785		$0		$222,785		$194,649	
Special Assessment - Tax Collector		$223,713		$220,837		$2,876		$223,713		$223,713	
Direct Assessments - B		$81,200		$55,948		$40,600		$96,548		$81,200	
Prepayments		$0		$416,458		$0		$416,458		$0	
Interest Income		$0		$12		$0		$12		$0	
TOTAL REVENUES		$575,996		$916,040		$43,476		$959,516		$499,562	

(1)

(1)

Expenditures

Series 2019A

Interest - 11/1	$86,871		$86,871		$0	$86,871	$85,674	
Principal - 5/1	$45,000		$0		$50,000	$50,000	$50,000	
Interest - 5/1	$86,871		$0		$86,871	$86,871	$85,674	
Series 2019B								
Interest - 11/1	$40,600		$35,280		$0	$35,280	$23,520	
Special Call - 11/1	$0		$125,000		$0	$125,000	$0	
Interest - 2/1	$0		$2,030		$0	$2,030	$0	
Special Call - 2/1	$0		$145,000		$0	$145,000	$0	
Interest - 5/1	$40,600		$0		$27,720	$27,720	$23,520	
Special Call - 5/1	$0		$0		$150,000	$150,000	$0	
TOTAL EXPENDITURES	$299,943		$394,181		$314,591	
$708,773	$268,388	
								
EXCESS REVENUES/(EXPENDITURES)	$276,054		$521,859		($271,115)	$250,744	$231,174	

Carry Forward is net of Reserve requirement								
						Interest 11/1/2022:		
						
2019A	
$84,496	
						2019B	$23,520	
							$108,016	

	Total	Debt Gross Per Unit Tax Roll

$1,469.09	Gross	Net Assessment

$223,713	
	Units		Assessment		
Platted Lots - Full Debt	 	162 		 	$237,993 		
Total Platted	      162 		 	$237,993 	$223,713	

15

Community Development District	Series 2019A, Capital Improvement Bonds

 	DATE			 	BALANCE			 	PRINCIPAL			 	INTEREST			 	TOTAL		
11/1/20		$3,210,000.00		$0.00		$86,871.25		$86,871.25	
5/1/21		$3,210,000.00		$50,000.00		$86,871.25		$0.00	
11/1/21		$3,160,000.00		$0.00		$85,683.75		$172,555.00	
5/1/22		$3,160,000.00		$50,000.00		$85,683.75		$0.00	
11/1/22		$3,110,000.00		$0.00		$84,496.25		$170,180.00	
5/1/23		$3,110,000.00		$55,000.00		$84,496.25		$0.00	
11/1/23		$3,055,000.00		$0.00		$83,190.00		$167,686.25	
5/1/24		$3,055,000.00		$55,000.00		$83,190.00		$0.00	
11/1/24		$3,000,000.00		$0.00		$81,883.75		$165,073.75	
5/1/25		$3,000,000.00		$60,000.00		$81,883.75		$0.00	
11/1/25		$2,940,000.00		$0.00		$80,458.75		$162,342.50	
5/1/26		$2,940,000.00		$60,000.00		$80,458.75		$0.00	
11/1/26		$2,880,000.00		$0.00		$79,033.75		$159,492.50	
5/1/27		$2,880,000.00		$65,000.00		$79,033.75		$0.00	
11/1/27		$2,815,000.00		$0.00		$77,490.00		$156,523.75	
5/1/28		$2,815,000.00		$70,000.00		$77,490.00		$0.00	
11/1/28		$2,745,000.00		$0.00		$75,827.50		$153,317.50	
5/1/29		$2,745,000.00		$70,000.00		$75,827.50		$0.00	
11/1/29		$2,675,000.00		$0.00		$74,165.00		$149,992.50	
5/1/30		$2,675,000.00		$75,000.00		$74,165.00		$0.00	
11/1/30		$2,600,000.00		$0.00		$72,121.25		$146,286.25	
5/1/31		$2,600,000.00		$80,000.00		$72,121.25		$0.00	
11/1/31		$2,520,000.00		$0.00		$69,941.25		$142,062.50	
5/1/32		$2,520,000.00		$85,000.00		$69,941.25		$0.00	
11/1/32		$2,435,000.00		$0.00		$67,625.00		$137,566.25	
5/1/33		$2,435,000.00		$90,000.00		$67,625.00		$0.00	
11/1/33		$2,345,000.00		$0.00		$65,172.50		$132,797.50	
5/1/34		$2,345,000.00		$95,000.00		$65,172.50		$0.00	
11/1/34		$2,250,000.00		$0.00		$62,583.75		$127,756.25	
5/1/35		$2,250,000.00		$100,000.00		$62,583.75		$0.00	
11/1/35		$2,150,000.00		$0.00		$59,858.75		$122,442.50	
5/1/36		$2,150,000.00		$105,000.00		$59,858.75		$0.00	
11/1/36		$2,045,000.00		$0.00		$56,997.50		$116,856.25	
5/1/37		$2,045,000.00		$110,000.00		$56,997.50		$0.00	
11/1/37		$1,935,000.00		$0.00		$54,000.00		$110,997.50	
5/1/38		$1,935,000.00		$115,000.00		$54,000.00		$0.00	
11/1/38		$1,820,000.00		$0.00		$50,866.25		$104,866.25	
5/1/39		$1,820,000.00		$125,000.00		$50,866.25		$0.00	
11/1/39		$1,695,000.00		$0.00		$47,460.00		$98,326.25	
5/1/40		$1,695,000.00		$130,000.00		$47,460.00		$0.00	
11/1/40		$1,565,000.00		$0.00		$43,820.00		$91,280.00	
5/1/41		$1,565,000.00		$140,000.00		$43,820.00		$0.00	
11/1/41		$1,425,000.00		$0.00		$39,900.00		$83,720.00	
5/1/42		$1,425,000.00		$145,000.00		$39,900.00		$0.00	
11/1/42		$1,280,000.00		$0.00		$35,840.00		$75,740.00	
5/1/43		$1,280,000.00		$155,000.00		$35,840.00		$0.00	
11/1/43		$1,125,000.00		$0.00		$31,500.00		$67,340.00	
5/1/44		$1,125,000.00		$165,000.00		$31,500.00		$0.00	
11/1/44		$960,000.00		$0.00		$26,880.00		$58,380.00	
5/1/45		$960,000.00		$170,000.00		$26,880.00		$0.00	
11/1/45		$790,000.00		$0.00		$22,120.00		$49,000.00	
5/1/46		$790,000.00		$180,000.00		$22,120.00		$0.00	
11/1/46		$610,000.00		$0.00		$17,080.00		$39,200.00	
5/1/47		$610,000.00		$190,000.00		$17,080.00		$0.00	
11/1/47		$420,000.00		$0.00		$11,760.00		$28,840.00	
5/1/48		$420,000.00		$205,000.00		$11,760.00		$0.00	
11/1/48		$215,000.00		$0.00		$6,020.00		$17,780.00	
 	5/1/49			$215,000.00		 	$215,000.00 		 	$6,020.00 		 	$0.00 	
 	Total					 	$3,210,000.00 		 	$3,301,292.50 		 	$3,295,272.50 	
16

Community Development District	Series 2019B, Capital Improvement Bonds

 	DATE			 	BALANCE			 	RATE			 	PRINCIPAL			 	INTEREST			 	TOTAL		
5/1/21		$990,000.00		5.60%		$150,000.00		$27,720.00			
11/1/21		$840,000.00		5.60%		$0.00		$23,520.00		$201,240.00	
5/1/22		$840,000.00		5.60%		$0.00		$23,520.00			
11/1/22		$840,000.00		5.60%		$0.00		$23,520.00		$47,040.00	
5/1/23		$840,000.00		5.60%		$0.00		$23,520.00			
11/1/23		$840,000.00		5.60%		$0.00		$23,520.00		$47,040.00	
5/1/24		$840,000.00		5.60%		$0.00		$23,520.00			
11/1/24		$840,000.00		5.60%		$0.00		$23,520.00		$47,040.00	
5/1/25		$840,000.00		5.60%		$0.00		$23,520.00			
11/1/25		$840,000.00		5.60%		$0.00		$23,520.00		$47,040.00	
5/1/26		$840,000.00		5.60%		$0.00		$23,520.00			
11/1/26		$840,000.00		5.60%		$0.00		$23,520.00		$47,040.00	
5/1/27		$840,000.00		5.60%		$0.00		$23,520.00			
11/1/27		$840,000.00		5.60%		$0.00		$23,520.00		$47,040.00	
5/1/28		$840,000.00		5.60%		$840,000.00		$23,520.00		$863,520.00	
 	Total							 	$990,000.00 		 	$357,000.00 		 	$1,347,000.00 	

**Updated 5/1/2021											

17

EAGLE LANDING 2021•2022BUDGET

G-OLP

5118/2021

2014 ActualRounds
2015ActualRounds
2016 Actual Rounds 2017Actual Rounds 2018Actual/Projected Rounds

October	Nowmber	Decembef	Janua	Februa	March	Aprll	Ma	June	Ju l	Au2 ust	Septamt,ar	Total

2019 Budgeted Rounds	3,700	3,500	3,100	3,300	3,700	S.200	4,800	4,600	4,400	4,200	3,900	4,000	48,400
Averaga Grean/Cart F• Rate	#REF!	IREFI	#REFI	IREFI	IRE FI	#REFI	#RE FI	#R EFI	#REFI	#REF!	#REF!	#REF!	#REF!
Golf Operations:
es	12,6 811	122,530	114,026	116,389	135,701	182,506	169,674	154,326	148,388	137,382	124,881	127,400	1,660,014

104,720

CostofSales	8,160	8,160	9,520	6,800	8,840	10.200	10  0	10.200	9,50	a,160	6,800	8,160

118,651	114,370	104,506	109,589	126,861	172,306	159,474	144,126	138,868	129,222	118,081	119,240	1,555,294	
46,363	42,617	42,976	44.469	43,603	44,266	48,088	44.742	44z709	49,111	43,480	43637	538,060	

GrossProftt
Operating Expenses
Net Operating Income	 	72.288	71,753		61,530 	85.120	83.258	128,040	111.386	99z384	9,4 159	ao ,111	74,601	75.604	1.G17.234

Food and Beverage (Goff):

CostofSales	33,683	31,079	29.956	31,763	30,547	39.050	42,444	40.265	34 12	27.804	25,627	31,104	397,534	
Gross Profit	60,653	56,151	54,493	57,395	55,126	70.512	76,848	73 ,119	61,402	50,382	46,510	56,136	718.727	
Operating Expenses	61,973	63,940	56,765	56,504_	57.246	60	59.628	60.459	56,024	58.300	60 ,597	59,026	714,691	

Rewnues	94,336	87,230	84,449	89,158	85,673	109,582	119,292	113.384	95.614	78,186	72,137	87,240	1,116,261
Net Operating lncoma (Loss)	(1,320)	(7.789)	(4.272) 	891		(2.120)	10,284	17.220	12.660	3.3'78	(,7  918  )	(14 ,087)	(2 ,890)	4.036

 	

Food and Bevera11e (Recraatlon): Revenues
Cost of Sales Gross Profit
Operallng Expanses

 		(60,370)	(68,370)	(86,960)	(68,120)				(9,4 020) 		
											
j3.97fil	(3,975 )	(4,475)	{3,97fil	{4	)	(3.97fil							(4£fil	

Nat Operating lncoma (Loss)

Golf Course llalntenanca Expenses

cnx ,	(r 1.870)

Building & Landscape Maintenance Expenses

(49,950)

Swim Ops · NetOp. Income (Loss)	 	

Tennis/FitnessOps•NetOp.Income (Loss)	 	

KidsClub•Net Op.  Inco me (Loss)	 	

Gan-andAdmlnlstmlve (Golf):

Revenues	24,5 00	24,500	24,500	24,500	24.500	24,500	24,500	24,500	24,500	24,500	24,500	24,500	294,000
Opera11ng Expenses	47 900	60	61,600	49.100	49,900	50.Ql!Q	53 ,900	50	4 9 ,050	5 2, 100	52	g,350	628 ,600
Net Operating Income (Loss)	(23,400)	135.7001	(37.100)	(24,600)	(25,400)	(25,500)	(29,400 )	(25,700)	1245581	{27,600)	(27,800)	{2, 7 850)	(334,600)

General end Admlnlstra11ve (Recreation):

Revenues
Opera11ng Expanses

Net OP«atlng Income (Loss)
Income (Loss) Before Depreciation

InterestExpense and  Management Faes	(33,777)	(39,471)	(44,687)	l30,934J	(35,447)	40.728	22.612	10,498	(25,007)	(28.253)	(37,131)	(24,731)	@ 5,60
Interest
Resident Assesunant Fees Advalorem Taxes Depreciation Expense
Amortization    Expense	 														                                                                                                                                                                                                                                                                                                                                                                                                                                              NET INCOME (LOSS)		(33.TT7)	(39, 4 71)	(44,687)	(30,934)	psr4:m	40 ,728	2,2  612	10 ,498	(25.oon	128.253)	(37,131)	(24,731 )	(225,600)
Assasments $358,000

EAGLE LANDING

Ktc

   5/1ll/2021	

2021 - 2022 BUDGET

October	-	D-.nbor	Janu	FebNa!:):	Mwch	April	llal	June	Ju!l	Au2ust	Se-ber	Total

2014Acwa1Rouruls 2015Actual Rounds 2016Actual Rounds 2017Ac1ua1 Rounds
2018 Aclu3l/ProjectedRounds 2011Budgellld Rounds
Average Green/Cart FN	IDIV/01	IDIV/01	ll>IV/01	IDIV/01	IDIV/01	fDIV/01	IDIV/01	IOIV/01	I DIV/01	IDIV/01	#DIVIVI	#DIV/01	#DIV/01

 	

Golf Operations: Rewnues Cost of Sales
GrouProftl Op■ratlngExpenses
Net Operating Income

Food and 8111111,aga (Golf):	 	
R111111nues
Coatof Sales	 	
GrouProllt
Opanatlng Expenses	 	
Nat Operating Income {Loss)	 	

Food and Be\«age (RKradon):
Revenues	3,420	3,230	2,375	1,045	1.045	8.075	9,785	13.490	27,930	31.540	19,190	8,740	129,865
Cost of Sales	1 ,40 2	1	1,000	540	5211	3,§!!1	4,094	5 ,645	11,762	13,168	7,985	3,706	54,721
Gross Profit	2,018	1,870	1,375	505	525	4,514	5,691	7,845	16,168	18.374	11,225	5,034	75,144
Operating Expenses	3.!i!!Q	3	3,009	1 0511	1 .!!§!!	4.§!!	4,154	3.517	14.§!	149,  70	18	g,101	74  ,398
Net   Operating Income (Loss)	!1,562)	!1.35'  )	11,!;!!l	!	j525J	(374)	1	•,328    	1  .915      	3	16 ,!!!}    	2.333	748 

GolfCourse llalntanance E,q,enses	 	

BullclJn g & Landlcap• Malntenanc■	!9,165}	j10.415)	!9,165)	j9.16S)	(10.165)	(9,165)	(9.165)	(10,165)	(9.415)	(9,165)	(10.165)	(13,075)	(118,390)

Swim Ops-Net Op. Income (Loss)	(16,968)	(15.om	(f 3,707J 		(21 ,692)	!11.650 )	(18,862)	(32.,217)	(31 .367)	13,9 165)	(18 ,642 )	(249,535)

TennisOps - NatOp. lnCOIN (Loss)	(19, 310)	(18,415 )	(20,759)	(19.229)	!23,611)	(21.206)	121,381)	(22.131)	(2J.001)	(19.686)	(20,761)	(20,171)	1249.657)

Kids Club - Net Op. Income(Losa)	(2,944) 	374	(3.325)	(121 )	(756)	(1,021)	(1.596)	(446)	4,595	(1.870 ) 	7	!2,576)	(9.579 )

General  and  Admln-(Golf):	 		 		 	
-u•
Oporatlng Expanses

NatOperatingIncome  (Lou)	 	

General and Adnolnlstrallva(Racreatlon):
Rewnu ■s

!25.336)	!37 .170)	(25.056)	(22,956)	(21,698)	122.651)	(2, 2 278)	122,756 )	)	!25 )	123.236)	)	(296 ,213 )	

(75,285)	
(12 ,006)	
(73.646)	
(17,1114)	
(72,386)	
(76,114)	
(64,532)	
(70,032)	
(80,721)	
(83,919)	
(100,017)	
(77,316)	
(922,628)	

Oporatlng Exp..,_	25	37,170	25,056	956	21,698	656	22.278	756	8	25 .236	23 .236	§	296
Net Oparallng Income (Loss)
Income (Loss) Before Dapractatlon lnblrest Expense and Management Fees

lnlanst Manag.-Fea Advaloram Taxes
D■preclaUon Expanse
.Arncxtlzallon Expanse	 	
NET.INCOME (LOSS)	r  s.2as 1	(82.006)	(73,646)	(67,104 )	(72,306)	(71 .1 14)	\64.532l	(70 .032)	(80.721)	(83 ,919)	(100 ,097)	(77.366)	(9 22, 628 )
AaN.....-$944,000

REVENUES:
Assessments

South Village
Community Development District
RECREATIONAL FUND BUDGET

The District will levy a maintenance assessment on all assessable property within the district.

Swim & Tennis Revenues

Tennis:
Guest Fees – Fees collected for non-resident usage of Athletic Center facilities, fitness & tennis programs while accompanied with a resident.
Pro Shop Merchandise – The sale of drinks, tennis balls, apparel and equipment. Fitness – Rental funds collected from vendors: Ship Shape Strong, LLC for TRX classes & Monica Fitzpatrick for Zumba classes.
Lessons & Clinics – Funds collected from patrons of private tennis lessons & group clinics given by East West Partners staff.

Pools:

Café:

Kids:

Guest Fees – Funds collected for non-resident usage of the Swim Park while accompanied with a resident.
Swim Lessons – Funds collected for private, semi-private and group swim lessons given by East West Partners staff.
Rentals – Funds collected from resident rentals of the Clubroom, Café Patio and Village Green for parties and events. Vintage Grace Church rents every Sunday morning. Rental fees collected from Atlantic Coast Diving and North Florida Diving are also shown here.
Swim Team – Registration fees for our summer swim team Eagle Rays.

Food – Sales of food, drinks and ice cream. Merchandise – Candy sales from the Village Store. Wine – Wine sales from the Cabana Bar.
Liquor – Liquor drinks and shots sold from the Cabana Bar. Beer – Beer sold from the Café and Cabana Bar.
Sundries – Sale of bags, cups, sunscreen and some novelty candy from Village Store.

Facility Rentals – Private parties and Church events. Summer Camp – Camp held while school is not in session.
Programs – Kid events such as Kids Only Parties and Gimmie a Break. Social Programs – Family events.
Holiday Events – Easter basket deliveries and other Holiday events with a fee.

11

EXPENDITURES:

South Village
Community Development District
RECREATIONAL FUND BUDGET

Swim and Tennis Expenses

Tennis:
Salaries/Wages – Salaries for Tennis Director, Assistant Tennis Pro, Front Desk, Floating Position and Social Membership Coordinator
Security – Alarm service and monitoring with Access Limited for Athletic Center. Cable – Comcast cable services for workout facility.
Electric – Clay Electric for the Athletic Center
Repairs and Maintenance – General repairs to the building, HVAC systems and workout equipment.
Court Maint. – Costs for clay, windscreens, nets/posts and light bulbs on the court.
Waste Removal – Provided by Waste Management
Office Supplies – Pens, printing supplies, folders, small equipment. Paper and Cleaning – Cleaning solutions, paper towels, toilet paper and equipment wipes.
Recreational Supplies – Basketballs, nets, ping pong equipment, etc. Merchandise – Tennis Balls, Drinks and Fitness apparel for sale.

Pool:

Salaries/Wages – Salaries for Recreation Director, Pool Maintenance, Front Desk and
Lifeguards.
Security – Alarm service and monitoring for Residents Club, Cabana Bar and Pool.
Cable – Comcast service for clubroom. Not active currently.
Electric – Clay Electric Service for Residents Club and pool equipment. Water and Sewer – CCUA water service for pool facility.
Gas – Western Natural Gas provides gas for pool heater.
Repairs and Maint. – General repairs to Residents Club building HVAC systems and small equipment.
Pool Maintenance – Repairs made to pool equipment, the pools, waterslide/diving boards.
Miscellaneous – Any odd expense that doesn’t fit appropriately elsewhere. First Aid/Safety – To replenish first aid kids and lifeguard accessories.
Employee Training – Expenses to cover key staff member recertifications. Swim Team – T-shirts, caps, trophies, banquet food and software/equipment, league fees to First Coast Summer Swim League for Eagle Rays summer swim team.
Office Supplies – Pens, receipt paper, ink, tape, envelopes, etc.
Paper and Cleaning Supplies – Paper towels, toilet paper, hand soap, cleaning solutions.
Recreational Supplies – Pool floats, balls, toys, ping pong and billiard equipment. Pool Chemicals – Agreement with Poolsure to provide chemicals and feed equipment.
Permits – Pool Operating permit fees for four pools through State of FL DOH.

12

Café:

South Village
Community Development District
RECREATIONAL FUND BUDGET

Salaries/Wages – Wages for Café/Store counter staff, cooks and Cabana Bar bartender & bar back.
Cable – Comcast cable service to Café, patio and Cabana Bar.  Gas – Gas for kitchen equipment provided by Western Natural Gas. Repairs & Maint – Any repairs to café/cabana area and equipment.
Pest Control – Monthly pest control services for Café provided by Ecolab. Waste Removal – Waste Management trash and recycling pickup.
Paper & Cleaning Supplies – Sanitizers, soaps, cups, paper towels, food trays. Food – Food products purchased through Sysco.
Recreational Supplies – Small wares and appliances.
Beer – Canned beer products purchased through Champion and North FL Sales. Liquor – Spirits purchased through Southern Glazer’s Wine and Spirits.
Permits – Seating License and Liquor License for Café/Cabana Bar.

Administrative:
Management Fees – Management fees to HonoursGolf
Salaries/Wages – General employee benefits, screening and payroll fees. Attorney – Any legal fees associated directly with the Recreation Fund.
Computers/IT – Fees paid to TAI and IT assistance to GMS. Telephone – Service provided by RingCentral.
Postage – Mailing fees for equipment repair and various letters.
Printing – Adobe software fees to create online newsletter and other publications. Miscellaneous – Other costs that do not fit in other areas.
Credit Card Fees – To receive payments from credit processor Elavon. Decorations – Holiday decorations used around amenities and common areas. Permits – Music licensing permits.
Insurance – Amenity property insurance.
Programs:
Management Fees – Labor costs for summer camp, kid’s only parties, holiday events, gimmie a break, social events and teen events.
Electric – Clay Electric services to the Kid’s Club. Equipment Rental – Helium tank rental with Praxair.
Repairs & Maintenance – Anything within the Kid’s Club and playground. Holiday Events – Costs for major holiday features including Halloween, Christmas Carnival, Easter, Memorial, 4th of July and Labor Day weekend. Summer Camp – Arts & craft supplies, snacks & drinks, pizza parties on Fridays, toys and games to provide for summer camp kids.
Social Events – Dive in movie supplies and other event costs for the residents.
Lake House:
Electric – Clay Electric service for the Lakehouse HVAC and lighting.
Repairs & Maintenance – Specific to the Lakehouse building, docks & canoes.

13