Venetian Isles Community Development District

Final Budget For  Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
VENETIAN ISLES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
Administrative Assessments	68,412	
Maintenance Assessments	89,596	
Debt Assessments	343,916	
Other Revenues	0	
Interest Income	360	
		
TOTAL REVENUES	$	502,284	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Aquatic Maintenance - Lake Tracts - Herbicides	9,800	
Aquatic Maintenance - Lake Tracts - Grass Carps	1,500	
General Maintenance - Lake Tracts/Shoreline Restoration	15,000	
Drainage Structure Maintenance/Cleaning	5,400	
Roadway/Street Improvements - Repairs (Including Signs)	9,000	
Engineers Report/Inspections/Consulting	1,500	
Field Operations Management	1,620	
Community Sign Project/Upgrades	0	
Miscellaneous Improvement Projects	8,400	
Security Camera MTE/Cable/Monitoring	2,500	
Infrastructure Reserve Fund	17,500	
Contingency (Maintenance & Storm Clean-up)	12,000	
TOTAL MAINTENANCE EXPENDITURES	84,220	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	6,000	
Payroll Taxes	460	
Management	30,612	
Secretarial	4,200	
Legal	9,000	
Assessment Roll	6,000	
Audit Fees	3,500	
Insurance	7,200	
Legal Advertisements	750	
Web Site Admin, Payroll Services, Meeting Room Rental & Mileage	3,500	
Office Supplies, Postage & Mailings	1,750	
Dues & Subscriptions	175	
Trustee Fee	3,550	
Continuing Disclosure Fee	350	
Administrative Contingency	1,200	
TOTAL ADMINISTRATIVE EXPENDITURES	78,247	
		
TOTAL EXPENDITURES	$	162,467	
		
REVENUES LESS EXPENDITURES	$	339,817	
		
Bond Payments	(323,281)	
		
BALANCE	$	16,536	
		
County Appraiser & Tax Collector Fee	(10,039)	
Discounts For Early Payments	(20,077)	
		
EXCESS/ (SHORTFALL)	$	(13,580)	
		
Carryover From Prior Year	13,580	
		
NET EXCESS/ (SHORTFALL)	$	-	

6/16/2019  12:21 PM	I

DETAILED FINAL BUDGET
VENETIAN ISLES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018 ACTUAL	
FISCAL YEAR 2018/2019 BUDGET	
FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	
Administrative Assessments	7,923	67,888	68,412	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	78,150	88,191	89,596	Expenditures/.94	
Debt Assessments	347,647	345,866	343,916	Bond Payments/.94	
Other Revenues	9,204	0	0		
Interest Income	450	360	360	Interest Projected At $30 Per Month	
					
TOTAL REVENUES	$	443,374	$	502,305	$	502,284		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Aquatic Maintenance - Lake Tracts - Herbicides	8,340	9,600	9,800	$200 Increase From 2018/2019 Budget	
Aquatic Maintenance - Lake Tracts - Grass Carps	0	1,500	1,500	No Change From 2018/2019 Budget	
General Maintenance - Lake Tracts/Shoreline Restoration	0	2,700	15,000	$12,300 Increase From 2018/2019 Budget	
Drainage Structure Maintenance/Cleaning	975	5,400	5,400	No Change From 2018/2019 Budget	
Roadway/Street Improvements - Repairs (Including Signs)	2,212	8,400	9,000	$600 Increase From 2018/2019 Budget	
Engineers Report/Inspections/Consulting	850	2,400	1,500	$900 Decrease From 2018/2019 Budget	
Field Operations Management	0	1,200	1,620	$420 Increase From 2018/2019 Budget	
Community Sign Project/Upgrades	8,841	0	0	Project Complete - Repairs Only	
Miscellaneous Improvement Projects	6,000	30,000	8,400	$21,600 Decrease From 2018/2019 Budget	
Security Camera MTE/Cable/Monitoring	0	0	2,500	Security Camera MTE/Cable/Monitoring	
Infrastructure Reserve Fund	0	17,500	17,500	No Change From 2018/2019 Budget	
Contingency (Maintenance & Storm Clean-up)	14,698	4,200	12,000	$7,800 Increase From 2018/2019 Budget	
TOTAL MAINTENANCE EXPENDITURES	41,916	82,900	84,220		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	1,300	6,000	6,000	No Change From 2018/2019 Budget	
Payroll Taxes	99	460	460	Supervisor Fees *7.65%	
Management	29,436	30,048	30,612	CPI Adjustment	
Secretarial	4,500	4,200	4,200	No Change From 2018/2019 Budget	
Legal	6,720	9,000	9,000	No Change From 2018/2019 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,700	3,800	3,500	Accepted Amount For 2018/2019 Audit	
Insurance	5,950	6,600	7,200	Insurance Estimate	
Legal Advertisements	719	750	750	No Change From 2018/2019 Budget	
Web Site Admin, Payroll Services, Meeting Room Rental & Mileage	2,566	3,000	3,500	$500 Increase From 2018/2019 Budget	
Office Supplies, Postage & Mailings	945	1,800	1,750	$50 Decrease From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fee	3,225	3,550	3,550	No Change From 2018/2019 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2018/2019 Budget	
Administrative Contingency	0	1,200	1,200	Administrative Contingency	
TOTAL ADMINISTRATIVE EXPENDITURES	65,685	76,933	78,247		
					
TOTAL EXPENDITURES	$	107,601	$	159,833	$	162,467		
					
REVENUES LESS EXPENDITURES	$	335,773	$	342,472	$	339,817		
					
Bond Payments	(331,677)	(325,114)	(323,281)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$	4,096	$	17,358	$	16,536		
					
County Appraiser & Tax Collector Fee	(4,865)	(10,039)	(10,039)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(18,313)	(20,078)	(20,077)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(19,082)	$	(12,759)	$	(13,580)		
					
Carryover From Prior Year	0	12,759	13,580	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	(19,082)	$	-	$	-		

6/16/2019 12:21 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET VENETIAN ISLES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
3,218	
425	
425	
Projected Interest For 2019/2020	

NAV Tax Collection	
331,677	
325,114	
323,281	
2020 P & I Payments Less Earned Interest	

Prepaid Bond Collection	
4,746	
0	
0		

Total Revenues	
$	339,641	
$	325,539	
$	323,706		

EXPENDITURES					

Principal Payments	
235,000	
235,000	
240,000	
Principal Payment Due In 2020	

Interest Payments	
99,909	
90,539	
83,706	
Interest Payments Due In 2020	

Total Expenditures	
$	334,909	
$	325,539	
$	323,706		

Excess/ (Shortfall)	
$	4,732	
$	-	
$	-		

Series 2013 Bond Refunding Information
Original Par Amount =	$3,825,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	1.25% - 3.875%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	May 2013			
Maturity Date =

Par Amount As Of 1/1/19 =	May 2028

$2,715,000			

6/16/2019 12:21 PM	III

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2016/2017	2017/2018	2018/2019	2019/2020	
Assessment*	Assessment*	Assessment*	Projected Assessment*	

Venetian Isles Community Development District Assessment Comparison

Administrative	$	124.29	$	136.92	$	118.48	$	119.40	
Maintenance	$	148.08	$	136.31	$	153.92	$	156.37	

Debt

$	608.21

$	607.35

$	605.72

$	602.30

Total

$	880.58	$

880.58	$

878.12	$

878.07

* Assessments Include the Following :	 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information (O&M):	

Total Units	574	
Less Lot #30-4916-030-0090		
Transfer To HOA Common Area	1	
Billed for O&M	573	

Community Information (Debt):	

Total Units	574	
Prepayments	3	
Billed for Debt	571	

6/16/2019 12:21 PM	IV