Adopted Budget
Fiscal Year 2023

South Village Community Development District

September 13, 2022

South Village	General Fund
Community Development District

	Adopted Budget		Actual thru		Projected Next		Total Projected at		Adopted Budget	
	Description			FY2022				7/31/22				2 Months				9/30/22				FY2023		
Revenues										
Maintenance Assessments - Tax Collector	$700,885		$703,676		$0		$703,676		$731,185	
Maintenance Assessments - Direct	$0		$0		$0		$0		$2,990	
Interest Income	$0		$684		$100		$784		$0	
Total Revenues		$700,885 			$704,360 			$100 			$704,460 			$734,175 	

Expenditures										
Administrative										
Supervisors Fees	$14,000		$7,200		$1,600		$8,800		$14,000	
FICA Taxes	$1,071		$551		$122		$673		$1,071	
Engineering	$15,000		$8,141		$2,714		$10,854		$15,000	
Arbitrage	$1,800		$0		$1,800		$1,800		$1,800	
Dissemination Agent	$8,500		$7,083		$2,361		$9,444		$8,500	
Assessment Roll	$5,300		$5,300		$0		$5,300		$5,300	
Attorney	$40,000		$11,287		$5,644		$16,931		$40,000	
Annual Audit	$7,250		$0		$7,250		$7,250		$7,250	
Trustee	$17,000		$4,541		$12,102		$16,643		$17,000	
Management Fees	$52,000		$43,333		$8,667		$52,000		$52,000	
Information Technology	$1,000		$833		$167		$1,000		$1,800	
Telephone	$1,500		$914		$305		$1,219		$1,500	
Postage	$1,000		$860		$287		$1,147		$1,000	
Insurance	$17,620		$17,369		$0		$17,369		$22,000	
Printing & Binding	$2,000		$737		$246		$983		$2,000	
Legal Advertising	$4,000		$1,839		$500		$2,339		$4,000	
Other Current Charges	$3,500		$3,964		$793		$4,757		$2,000	
Office Supplies	$100		$8		$3		$10		$100	
Dues, Licenses, Subscriptions	$175		$175		$0		$175		$175	
Contingency	$500		$0		$500		$500		$500	
Sub-Total - Administrative Expenses		$193,316 			$114,136 			$45,058 			$159,194 			$196,996 	
Community Appearance										
Security	$40,000		$32,775		$6,555		$39,330		$42,000	
Utilities	$85,000		$73,055		$14,611		$87,666		$85,000	
Interlocal Agreement - MVCDD	$36,000		$32,761		$0		$32,761		$36,000	
Facility & Grounds Maintenance (Labor)	$20,000		$0		$20,000		$20,000		$20,000	
Landscape - Contract	$171,069		$132,767		$26,956		$159,724		$223,443	
Landscape - Contingency	$20,000		$10,669		$10,000		$20,669		$45,000	
Landscape - Irrigation Repairs	$10,500		$5,025		$5,000		$10,025		$10,500	
Phase 5&6 Maintenance	$60,000		$55,527		$11,105		$66,633		$26,246	
Miscellaneous - Direct Cost	$10,000		$2,335		$10,000		$12,335		$13,990	
Lake - Contract	$35,000		$25,758		$8,586		$34,344		$35,000	
Cottage Lots - Expenses	$20,000		$0		$0		$0		$0	
Sub-Total - Community Appearance		$507,569 			$370,672 			$112,814 			$483,486 			$537,179 	
TOTAL EXPENDITURES	$700,885		$484,808		$157,872		$642,680		$734,175	
										
EXCESS REVENUES/(EXPENDITURES)	($0)		$219,552		($157,772)		$61,780		$0	

1								

Allocation of On Roll Assessments:
Total Net Assessments - Tax Collector Platted

$1,737,374

Total Assessment - Tax Collector

$1,737,374

South Village
Community Development District

Platted Lots	FY 2022	FY 2023	

Assessments - Platted Lots	
1494	
1494	
Net-Assessment Rate	$1,104.50	$1,160.90	
Total Net Assessments - Tax Collector	$1,650,123	$1,734,385	
Gross Assessment (6% Discounts/Collections)	$1,755,450	$1,845,090	
Gross Assessment - Per Unit	$1,175	$1,235	
Sales Center			
Net-Assessment Rate		$2,989.65	
Gross Assessment (6% Discounts/Collections)		$3,180.48	

General Fund	$731,185	
Recreation Fund	$1,006,189	
	$1,737,374	

Summary of Operations and Maintenance Assessments (Net)	
GF / Rec Fund	$	1,161	
Golf Fund	$	240	
Capital Reserve Fund	$	188	
TOTAL	$	1,589	

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.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

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 contracted maintenance labor.

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 $2,862 per month, or $34,344 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 Viewpoint Secruity 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		Adopted
Budget	
 Description			FY2022		7/31/22		2 Months		9/30/22		FY2023	

Revenues											
Carry Forward Surplus		$403,135		$420,158		$0		$420,158		$325,515	
Special Assessment - Tax Collector		$1,478,744		$1,481,858		$0		$1,481,858		$1,478,744	
Direct Invoices		$24,874		$0		$0		$0		$0	
Prepayments		$0		$0		$0		$0		$0	
Interest Income		$0		$897		$50		$947		$0	
TOTAL REVENUES		$1,906,753		$1,902,913		$50		$1,902,963		$1,804,259	

(1)

(1)

Expenditures

Series 2016 A1 - Refunding Bonds

Interest - 11/1	$174,969	$170,738	$0	$170,738	$168,222	
Special Call - 11/1	$0	$25,000	$0	$25,000	$0	
Interest - 5/1	$174,969	$170,285	$0	$170,285	$168,222	
Principal - 5/1	$620,000	$620,000	$0	$620,000	$635,000	

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	

Series 2016 A2 - Refunding Bonds

Interest - 11/1	$87,309	$85,303	$0	$85,303	$79,382	
Special Call - 11/1	$0	$10,000	$0	$10,000	$0	
Interest - 5/1	$87,309	$85,059	$0	$85,059	$79,382	
Principal - 5/1	$190,000	$185,000	$0	$185,000	$190,000	
Special Call - 5/1	$0	$70,000	$0	$70,000	$0	

Series 2016 A2 - Revenue Bonds						
Interest - 11/1	$20,750		$20,750		$0	$20,750	$20,750	
Interest - 5/1	$20,750		$20,750		$0	$20,750	$20,750	

TOTAL EXPENDITURES	$1,490,619		$1,577,448		$0	
$1,577,448	$1,476,270	

						

		
EXCESS REVENUES/(EXPENDITURES)	$416,134		$325,465		$50	$325,515	$327,989	
Carry Forward is net of Reserve requirement								
	Total	Debt Gross Per		Gross		Net	Interest 11/1/2023:		
	Units	Unit Tax Roll		Assessment		Assessment			
							A1 Refunding	$160,503	
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	$75,249	
Platted Lot - Partial		1 	$597.53		$598		$562	A2 Revenue	$20,750	
Total Platted	  1,132 			$1,585,156		$1,490,047		$313,784	

7

Community Development District	Series 2016 A1, Refunding Bonds

	DATE 			BALANCE				RATE				PRINCIPAL				INTEREST				TOTAL		
11/1/22		$9,985,000.00		2.13%		$0.00		$168,221.88		$168,221.88	
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								$9,985,000.00 			$2,650,087.62 			$12,635,087.62 	

**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		
11/1/22		$3,345,000.00		4.35%		$0.00		$79,381.88		$79,381.88	
5/1/23		$3,345,000.00		4.35%		$190,000.00		$79,381.88			
11/1/23		$3,155,000.00		4.35%		$0.00		$75,249.38		$344,631.26	
5/1/24		$3,155,000.00		4.35%		$200,000.00		$75,249.38			
11/1/24		$2,955,000.00		4.35%		$0.00		$70,899.38		$346,148.76	
5/1/25		$2,955,000.00		4.35%		$210,000.00		$70,899.38			
11/1/25		$2,745,000.00		4.35%		$0.00		$66,331.88		$347,231.26	
5/1/26		$2,745,000.00		4.35%		$220,000.00		$66,331.88			
11/1/26		$2,525,000.00		4.35%		$0.00		$61,546.88		$347,878.76	
5/1/27		$2,525,000.00		4.88%		$230,000.00		$61,546.88			
11/1/27		$2,295,000.00		4.88%		$0.00		$55,940.63		$347,487.51	
5/1/28		$2,295,000.00		4.88%		$240,000.00		$55,940.63			
11/1/28		$2,055,000.00		4.88%		$0.00		$50,090.63		$346,031.26	
5/1/29		$2,055,000.00		4.88%		$255,000.00		$50,090.63			
11/1/29		$1,800,000.00		4.88%		$0.00		$43,875.00		$348,965.63	
5/1/30		$1,800,000.00		4.88%		$265,000.00		$43,875.00			
11/1/30		$1,535,000.00		4.88%		$0.00		$37,415.63		$346,290.63	
5/1/31		$1,535,000.00		4.88%		$280,000.00		$37,415.63			
11/1/31		$1,255,000.00		4.88%		$0.00		$30,590.63		$348,006.26	
5/1/32		$1,255,000.00		4.88%		$290,000.00		$30,590.63			
11/1/32		$965,000.00		4.88%		$0.00		$23,521.88		$344,112.51	
5/1/33		$965,000.00		4.88%		$305,000.00		$23,521.88			
11/1/33		$660,000.00		4.88%		$0.00		$16,087.50		$344,609.38	
5/1/34		$660,000.00		4.88%		$320,000.00		$16,087.50			
11/1/34		$340,000.00		4.88%		$0.00		$8,287.50		$344,375.00	
5/1/35		$340,000.00		4.88%		$340,000.00		$8,287.50			
							$0.00 		 				$348,287.50 	
	Total								$3,345,000.00 			$1,238,437.60 			$4,583,437.60 	

**Revised 5/1/22											

10

Community Development District	Series 2016 A2, Revenue Bonds

	DATE 			BALANCE				RATE				PRINCIPAL				INTEREST				TOTAL		
11/1/22		$830,000.00		5.00%		$0.00		$20,750.00		$20,750.00	
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 			$623,750.00 			$1,453,750.00 	

11

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

(1)

(1)

	Adopted
Budget		Actual
thru		Projected
Next		Total
Projected at		Adopted
Budget	
 Description			FY2022		7/31/22		2 Months		9/30/22		FY2023	

Revenues											

Carry Forward Surplus	$239,601		
$196,732		
$0		
$196,732		
$129,468	
Special Assessment	$332,233		$295,120		$0		$295,120		$293,949	
Prepayments	$0		$140,502		$0		$140,502		$0	
Interest Income	$0		$250		$15		$265		$0	
TOTAL REVENUES	$571,834		$632,604		$15		$632,619		$423,417	

Expenditures

Series 2016 A3 - Refunding Bonds

Interest - 11/1	$53,963	$51,188	$0	$51,188	$43,575	
Special Call - 11/1	$0	$40,000	$0	$40,000	$0	
Interest - 2/1	$0	$663	$0	$663	$0	
Special Call - 2/1	$0	$45,000	$0	$45,000	$0	
Principal - 5/1	$90,000	$85,000	$0	$85,000	$80,000	
Interest - 5/1	$53,963	$48,700	$0	$48,700	$43,575	
Special Call - 5/1	$0	$95,000	$0	$95,000	$0	
Interest - 8/1	$0	$0	$600	$600	$0	
Special Call - 8/1	$0	$0	$30,000	$30,000	$0	

Series 2016 A3 - Revenue Bonds						
Interest - 11/1	$53,500		$53,500		$0	$53,500	$53,350	
Interest - 5/1	$53,500		$53,500		$0	$53,500	$53,350	

TOTAL EXPENDITURES	$304,926		$472,551		$30,600	
$503,151	$273,850	

						

		
EXCESS REVENUES/(EXPENDITURES)	$266,908		$160,053		($30,585)	$129,468	$149,567	

Carry Forward is net of Reserve requirement								
						Interest 11/1/2023:		
						A3 Refunding	$41,375	
						A3 Revenue	$53,350	
							$94,725	

12

Community Development District	Series 2016 A3, Refunding Bonds

	DATE				BALANCE				RATE				PRINCIPAL				INTEREST				TOTAL		
11/1/22		$1,490,000.00		5.50%		$0.00		$43,575.00		$43,575.00	
5/1/23		$1,490,000.00		5.50%		$80,000.00		$43,575.00			
11/1/23		$1,410,000.00		5.50%		$0.00		$41,375.00		$164,950.00	
5/1/24		$1,410,000.00		5.50%		$85,000.00		$41,375.00			
11/1/24		$1,325,000.00		5.50%		$0.00		$39,037.50		$165,412.50	
5/1/25		$1,325,000.00		5.50%		$90,000.00		$39,037.50			
11/1/25		$1,235,000.00		5.50%		$0.00		$36,562.50		$165,600.00	
5/1/26		$1,235,000.00		5.50%		$95,000.00		$36,562.50			
11/1/26		$1,140,000.00		5.50%		$0.00		$33,950.00		$165,512.50	
5/1/27		$1,140,000.00		5.50%		$100,000.00		$33,950.00			
11/1/27		$1,040,000.00		6.00%		$0.00		$31,200.00		$165,150.00	
5/1/28		$1,040,000.00		6.00%		$105,000.00		$31,200.00			
11/1/28		$935,000.00		6.00%		$0.00		$28,050.00		$164,250.00	
5/1/29		$935,000.00		6.00%		$110,000.00		$28,050.00			
11/1/29		$825,000.00		6.00%		$0.00		$24,750.00		$162,800.00	
5/1/30		$825,000.00		6.00%		$120,000.00		$24,750.00			
11/1/30		$705,000.00		6.00%		$0.00		$21,150.00		$165,900.00	
5/1/31		$705,000.00		6.00%		$125,000.00		$21,150.00			
11/1/31		$580,000.00		6.00%		$0.00		$17,400.00		$163,550.00	
5/1/32		$580,000.00		6.00%		$130,000.00		$17,400.00			
11/1/32		$450,000.00		6.00%		$0.00		$13,500.00		$160,900.00	
5/1/33		$450,000.00		6.00%		$140,000.00		$13,500.00			
11/1/33		$310,000.00		6.00%		$0.00		$9,300.00		$162,800.00	
5/1/34		$310,000.00		6.00%		$150,000.00		$9,300.00			
11/1/34		$160,000.00		6.00%		$0.00		$4,800.00		$164,100.00	
5/1/35		$160,000.00		6.00%		$160,000.00		$4,800.00			
						$0.00		$0.00		$164,800.00	
Total						$1,490,000.00		$689,300.00		$2,179,300.00	

**Revised 5/1/2022

13

Community Development District	Series 2016 A3, Revenue Bonds

	DATE			
	BALANCE			
	RATE			
	PRINCIPAL			
	INTEREST			
	TOTAL		
11/1/22		$2,140,000.00		5.00%		$0.00		$53,500.00		$53,500.00	
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 			$2,085,000.00 			$4,225,000.00 	

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		Adopted
Budget	
 Description			FY2022		7/31/22		2 Months		9/30/22		FY2023	

Revenues											
Carry Forward Surplus		$247,857		$299,994		$0		$299,994		$148,008	
Special Assessment - Tax Collector		$223,713		$224,604		$0		$224,604		$223,713	
Direct Assessments - B		$81,200		$0		$0		$0		$81,200	
Prepayments		$0		$495,944		$0		$495,944		$0	
Interest Income		$0		$169		$0		$169		$0	
TOTAL REVENUES		$552,770		$1,020,711		$0		$1,020,711		$452,921	

(1)

(1)

Expenditures

Series 2019A

Interest - 11/1	$85,684		$85,684		$0	$85,684	$84,496	
Principal - 5/1	$50,000		$50,000		$0	$50,000	$55,000	
Interest - 5/1	$85,684		$85,684		$0	$85,684	$84,496	
Series 2019B								
Interest - 11/1	$23,520		$18,760		$0	$18,760	$17,640	
Special Call - 11/1	$0		$165,000		$0	$165,000	$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	$23,520		$8,820		$0	$8,820	$17,640	
Special Call - 5/1	$0		$210,000		$0	$210,000	$0	

TOTAL EXPENDITURES	$268,408		$816,608		$0	
$816,608	$259,273	

						

EXCESS REVENUES/(EXPENDITURES)	$284,362		$204,103		$0	$204,103	$193,649	

Carry Forward is net of Reserve requirement								
						Interest 11/1/2023:		
						
2019A	
$84,496	
						2019B	$17,640	
							$102,136	

Total	Debt Gross Per		Gross Units		Unit Tax Roll	Assessment

Platted Lots - Full Debt		162 	$1,469.09	$237,993 Total Platted	  162 		$237,993	Net Assessment

$223,713	
	$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		$222,555.00	
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		$220,180.00	
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		$222,686.25	
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		$220,073.75	
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		$222,342.50	
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		$219,492.50	
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		$221,523.75	
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		$223,317.50	
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		$219,992.50	
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		$221,286.25	
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		$222,062.50	
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		$222,566.25	
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		$222,797.50	
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		$222,756.25	
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		$222,442.50	
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		$221,856.25	
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		$220,997.50	
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		$219,866.25	
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		$223,326.25	
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		$221,280.00	
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		$223,720.00	
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		$220,740.00	
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		$222,340.00	
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		$223,380.00	
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		$219,000.00	
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		$219,200.00	
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		$218,840.00	
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		$222,780.00	
	5/1/49			$215,000.00			$215,000.00 			$6,020.00 			$221,020.00 	
	Total						$3,210,000.00 			$3,301,292.50 			$6,511,292.50 	
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%		$210,000.00		$23,520.00			
11/1/22		$630,000.00		5.60%		$0.00		$17,640.00		$251,160.00	
5/1/23		$630,000.00		5.60%		$0.00		$17,640.00			
11/1/23		$630,000.00		5.60%		$0.00		$17,640.00		$35,280.00	
5/1/24		$630,000.00		5.60%		$0.00		$17,640.00			
11/1/24		$630,000.00		5.60%		$0.00		$17,640.00		$35,280.00	
5/1/25		$630,000.00		5.60%		$0.00		$17,640.00			
11/1/25		$630,000.00		5.60%		$0.00		$17,640.00		$35,280.00	
5/1/26		$630,000.00		5.60%		$0.00		$17,640.00			
11/1/26		$630,000.00		5.60%		$0.00		$17,640.00		$35,280.00	
5/1/27		$630,000.00		5.60%		$0.00		$17,640.00			
11/1/27		$630,000.00		5.60%		$0.00		$17,640.00		$35,280.00	
5/1/28		$630,000.00		5.60%		$840,000.00		$17,640.00		$857,640.00	
	Total								$1,200,000.00 			$286,440.00 			$1,486,440.00 	

**Updated 5/1/2021											

17

	-	
	-	
	-	
	-	
4,200	4,000	3,900	3,900	4,100	5,100	5,200	5,600	4,500	4,900	4,000	4,000	53,400	
#REF!	#REF!	#REF!	#REF!	#REF!	#REF!	#REF!	#REF!	#REF!	#REF!	#REF!	#REF!	#REF!	

October	November	December	January	February	March	April	May	June	July	August	September	Total
2014 Actual Rounds
2015 Actual Rounds
2016 Actual Rounds
2017 Actual Rounds
2018 Actual/Projected Rounds
2019 Budgeted Rounds Average Green/Cart Fee Rate

150,984	147,840	138,995	133,119	142,576	177,359	181,604	183,372	151,260	161,526	134,890	132,330	1,835,855	
10,200	9,520	11,560	8,840	9,520	12,240	12,240	12,240	10,200	8,840	8,840	10,200	124,440	
140,784	138,320	127,435	124,279	133,056	165,119	169,364	171,132	141,060	152,686	126,050	122,130	1,711,415	
51,047	46,376	51,477	49,645	46,508	47,541	50,736	48,076	47,053	51,884	45,985	45,927	582,257	
89,737	91,944	75,958	74,634	86,548	117,578	118,628	123,056	94,007	100,802	80,065	76,203	1,129,158	

Golf Operations: Revenues Cost of Sales
Gross Profit Operating Expenses
Net Operating Income

113,384	102,080	112,803	99,553	102,107	137,975	153,200	159,350	118,315	119,073	97,580	106,080	1,421,500	
44,243	39,667	43,822	38,679	39,710	53,630	59,535	61,870	46,216	46,237	37,837	41,317	552,763	
69,141	62,413	68,981	60,874	62,397	84,345	93,665	97,480	72,099	72,836	59,743	64,763	868,738	
72,627	70,939	71,707	76,782	71,890	72,258	72,129	73,128	71,843	71,337	71,804	71,577	868,021	
(3,485)	(8,526)	(2,726)	(15,909)	(9,493)	12,087	21,536	24,352	256	1,499	(12,061)	(6,814)	716	

Food and Beverage (Golf): Revenues
Cost of Sales Gross Profit
Operating Expenses
Net Operating Income (Loss)

-	-	-	-	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-	-	-	-	
-	-	-	-	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-	-	-	-	
-	-	-	-	-	-	-	-	-	-	-	-	-	

Food and Beverage (Recreation):
Revenues Cost of Sales
Gross Profit
Operating Expenses		
Net Operating Income (Loss)														
														
Golf Course Maintenance Expenses	(95,921)	(71,950)	(73,200)	(86,850)	(80,950)	(101,950)	(85,200)	(84,200)	(91,350)	(79,950)	(79,700)	(73,450)	(1,004,671)	
														
Building & Landscape Maintenance Expenses	(6,000)	(6,000)	(6,500)	(6,000)	(6,250)	(6,000)	(6,500)	(6,000)	(6,000)	(6,500)	(6,000)	(6,500)	(74,250)	
														
Swim Ops - Net Op. Income (Loss)	-	-	-	-	-	-	-	-	-	-	-	-	-	
														
Tennis/Fitness Ops - Net Op. Income (Loss)	-	-	-	-	-	-	-	-	-	-	-	-	-	
														
Kids Club - Net Op. Income (Loss)	-	-	-	-	-	-	-	-	-	-	-	-	-	

General and Administrative (Golf):														

32,200
55,913	31,200
74,713	32,200
58,363	31,200
49,213	32,200
51,013	31,200
56,000	32,200
55,013	32,200
52,113	31,200
49,863	32,200
55,213	31,200
50,863	32,200
49,463	381,400
657,738	
(23,713)	(43,513)	(26,163)	(18,013)	(18,813)	(24,800)	(22,813)	(19,913)	(18,663)	(23,013)	(19,663)	(17,263)	(276,338)	

Revenues Operating Expenses
Net Operating Income (Loss)

-	-	-	-	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-	-	-	-	
-	-	-	-	-	-	-	-	-	-	-	-	-	

General and Administrative (Recreation): Revenues
Operating Expenses
Net Operating Income (Loss)

(39,382)

(38,045)

(32,631)

(52,137)

(28,958)

(3,085)

25,651

37,296

(21,750)

(7,162)

(37,358)

(27,824)

(225,384)

Income (Loss) Before Depreciation Interest Expense and Management Fees

	-	
	-	
	-	
	-	
	-	
(39,382)	(38,045)	(32,631)	(52,137)	(28,958)	(3,085)	25,651	37,296	(21,750)	(7,162)	(37,358)	(27,824)	(225,384)	

Interest
Resident Assestment Fees Advalorem Taxes Depreciation Expense Amortization Expense
NET INCOME (LOSS)

 Assesments $358,000	

	-	
	-	
	-	
	-	
	-		-		-		-		-		-		-		-		-		-		-		-	-	
#DIV/0!		#DIV/0!		#DIV/0!		#DIV/0!		#DIV/0!		#DIV/0!		#DIV/0!		#DIV/0!		#DIV/0!		#DIV/0!		#DIV/0!		#DIV/0!		#DIV/0!	

October	November	December	January	February	March	April	May	June	July	August	September	Total
2014 Actual Rounds
2015 Actual Rounds
2016 Actual Rounds
2017 Actual Rounds
2018 Actual/Projected Rounds
2019 Budgeted Rounds Average Green/Cart Fee Rate

-	-	-	-	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-	-	-	-	
-	-	-	-	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-	-	-	-	
-	-	-	-	-	-	-	-	-	-	-	-	-	

Golf Operations: Revenues Cost of Sales
Gross Profit Operating Expenses
Net Operating Income

-	-	-	-	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-	-	-	-	
-	-	-	-	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-	-	-	-	
-	-	-	-	-	-	-	-	-	-	-	-	-	

Food and Beverage (Golf): Revenues
Cost of Sales Gross Profit
Operating Expenses
Net Operating Income (Loss)

5,985	3,420	2,185	855	855	10,735	12,065	16,340	31,730	35,340	23,750	12,350	155,610	
2,625	1,460	955	480	465	5,105	5,295	7,220	14,540	16,070	10,650	5,550	70,415	
3,360	1,960	1,230	375	390	5,630	6,770	9,120	17,190	19,270	13,100	6,800	85,195	
5,343	5,018	4,734	1,749	1,749	6,972	6,447	6,402	17,146	18,684	19,248	5,229	98,718	
(1,983)	(3,058)	(3,504)	(1,374)	(1,359)	(1,342)	323	2,718	44	586	(6,148)	1,571	(13,523)	

Food and Beverage (Recreation): Revenues
Cost of Sales Gross Profit
Operating Expenses
Net Operating Income (Loss)

Golf Course Maintenance Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	
														
Building & Landscape Maintenance Expenses	(9,263)	(10,513)	(9,263)	(9,263)	(10,263)	(9,263)	(9,263)	(10,263)	(9,513)	(9,263)	(10,263)	(9,263)	(115,650)	
														
Swim Ops - Net Op. Income (Loss)	(17,243)	(16,509)	(15,017)	(16,397)	(16,814)	(23,534)	(12,300)	(18,907)	(33,527)	(32,667)	(39,200)	(19,001)	(261,116)	
														
Tennis Ops - Net Op. Income (Loss)	(19,508)	(18,718)	(20,568)	(20,618)	(26,568)	(21,518)	(23,418)	(23,018)	(25,268)	(20,918)	(21,418)	(22,668)	(264,200)	
														
Kids Club - Net Op. Income (Loss)	(6,006)	(56)	(5,365)	(1,356)	(2,106)	(3,406)	(2,831)	(1,681)	2,785	(1,565)	(1,056)	(1,581)	(24,224)	

General and Administrative (Golf):														

-	-	-	-	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-	-	-	-	
-	-	-	-	-	-	-	-	-	-	-	-	-	

Revenues Operating Expenses
Net Operating Income (Loss)

- 29,670	- 34,570	- 30,620	- 24,770	- 24,470	- 24,470	- 24,570	- 24,570	- 25,370	- 30,370	- 24,570	- 24,570	- 322,590	
(29,670)	(34,570)	(30,620)	(24,770)	(24,470)	(24,470)	(24,570)	(24,570)	(25,370)	(30,370)	(24,570)	(24,570)	(322,590)	

General and Administrative (Recreation): Revenues
Operating Expenses
Net Operating Income (Loss)

(83,672)

(83,423)

(84,336)

(73,777)

(81,579)

(83,532)

(72,058)

(75,720)

(90,848)

(94,196)

(102,654)

(75,511)

(1,001,303)

Income (Loss) Before Depreciation Interest Expense and Management Fees

	-	
	-	
	-	
	-	
	-	
(83,672)	(83,423)	(84,336)	(73,777)	(81,579)	(83,532)	(72,058)	(75,720)	(90,848)	(94,196)	(102,654)	(75,511)	(1,001,303)	

Interest Management Fees Advalorem Taxes
Depreciation Expense Amortization Expense
NET INCOME (LOSS)

 Assesments $944,000