Venetian Isles Community Development District

Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
VENETIAN ISLES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021 BUDGET	
Administrative Assessments	65,349	
Maintenance Assessments	90,234	
Debt Assessments	346,323	
Other Revenues	0	
Interest Income	420	
		
TOTAL REVENUES	$	502,326	
		
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	6,000	
Roadway/Street Improvements - Repairs (Including Signs)	9,000	
Engineers Report/Inspections/Consulting	1,500	
Field Operations Management	1,620	
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	84,820	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	6,000	
Payroll Taxes	460	
Management	31,308	
Secretarial	4,200	
Legal	9,000	
Assessment Roll	6,000	
Audit Fees	3,600	
Insurance	6,800	
Legal Advertisements	700	
Web Site Admin, Payroll Services, Meeting Room Rental & Mileage	3,500	
Office Supplies, Postage & Mailings	1,700	
Dues & Subscriptions	175	
Trustee Fee	3,550	
Continuing Disclosure Fee	350	
Administrative Contingency	1,200	
TOTAL ADMINISTRATIVE EXPENDITURES	78,543	
		
TOTAL EXPENDITURES	$	163,363	
		
REVENUES LESS EXPENDITURES	$	338,963	
		
Bond Payments	(325,544)	
		
BALANCE	$	13,419	
		
County Appraiser & Tax Collector Fee	(10,038)	
Discounts For Early Payments	(20,076)	
		
EXCESS/ (SHORTFALL)	$	(16,695)	
		
Carryover From Prior Year	16,695	
		
NET EXCESS/ (SHORTFALL)	$	-	

7/18/2020  9:22 AM	I

DETAILED FINAL BUDGET
VENETIAN ISLES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2018/2019 ACTUAL	
FISCAL YEAR 2019/2020 BUDGET	
FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	
Administrative Assessments	68,617	68,412	65,349	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	88,191	89,596	90,234	Expenditures/.94	
Debt Assessments	345,866	343,916	346,323	Bond Payments/.94	
Other Revenues	41,821	0	0		
Interest Income	548	360	420	Interest Projected At $35 Per Month	
					
TOTAL REVENUES	$	545,043	$	502,284	$	502,326		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Aquatic Maintenance - Lake Tracts - Herbicides	8,340	9,800	9,800	No Change From 2019/2020 Budget	
Aquatic Maintenance - Lake Tracts - Grass Carps	0	1,500	1,500	No Change From 2019/2020 Budget	
General Maintenance - Lake Tracts/Shoreline Restoration	10,600	15,000	15,000	No Change From 2019/2020 Budget	
Drainage Structure Maintenance/Cleaning	0	5,400	6,000	$600 Increase From 2019/2020 Budget	
Roadway/Street Improvements - Repairs (Including Signs)	5,165	9,000	9,000	No Change From 2019/2020 Budget	
Engineers Report/Inspections/Consulting	1,488	1,500	1,500	No Change From 2019/2020 Budget	
Field Operations Management	1,200	1,620	1,620	No Change From 2019/2020 Budget	
Miscellaneous Improvement Projects	18,346	8,400	8,400	No Change From 2019/2020 Budget	
Security Camera MTE/Cable/Monitoring	0	2,500	2,500	No Change From 2019/2020 Budget	
Infrastructure Reserve Fund	0	17,500	17,500	No Change From 2019/2020 Budget	
Contingency (Maintenance & Storm Clean-up)	42,456	12,000	12,000	No Change From 2019/2020 Budget	
TOTAL MAINTENANCE EXPENDITURES	87,595	84,220	84,820		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	2,700	6,000	6,000	No Change From 2019/2020 Budget	
Payroll Taxes	207	460	460	Supervisor Fees *7.65%	
Management	30,048	30,612	31,308	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2019/2020 Budget	
Legal	10,885	9,000	9,000	No Change From 2019/2020 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,400	3,500	3,600	Accepted Amount For 2019/2020 Audit	
Insurance	5,000	7,200	6,800	Insurance Estimate	
Legal Advertisements	290	750	700	$50 Decrease From 2019/2020 Budget	
Web Site Admin, Payroll Services, Meeting Room Rental & Mileage	3,316	3,500	3,500	No Change From 2019/2020 Budget	
Office Supplies, Postage & Mailings	742	1,750	1,700	$50 Decrease From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fee	3,548	3,550	3,550	No Change From 2019/2020 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2019/2020 Budget	
Administrative Contingency	0	1,200	1,200	Administrative Contingency	
TOTAL ADMINISTRATIVE EXPENDITURES	70,861	78,247	78,543		
					
TOTAL EXPENDITURES	$	158,456	$	162,467	$	163,363		
					
REVENUES LESS EXPENDITURES	$	386,587	$	339,817	$	338,963		
					
Bond Payments	(329,934)	(323,281)	(325,544)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	56,653	$	16,536	$	13,419		
					
County Appraiser & Tax Collector Fee	(4,840)	(10,039)	(10,038)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(18,277)	(20,077)	(20,076)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	33,536	$	(13,580)	$	(16,695)		
					
Carryover From Prior Year	0	13,580	16,695	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	33,536	$	-	$	-		

7/18/2020 9:22 AM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET VENETIAN ISLES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2019/2020 BUDGET	FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	

Interest Income	
6,393	
425	
500	
Projected Interest For 2020/2021	

NAV Tax Collection	
329,934	
323,281	
325,544	
2021 P & I Payments Less Earned Interest	

Total Revenues	
$	336,327	
$	323,706	
$	326,044		

EXPENDITURES					

Principal Payments	
235,000	
240,000	
250,000	
Principal Payment Due In 2021	

Interest Payments	
94,063	
83,706	
76,044	
Interest Payments Due In 2021	

Total Expenditures	
$	329,063	
$	323,706	
$	326,044		

Excess/ (Shortfall)	
$	7,264	
$	-	
$	-		

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 1/1/20 =	May 2028

$2,480,000			

7/18/2020 9:22 AM	III

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2017/2018	2018/2019	2019/2020	2020/2021	
Assessment*	Assessment*	Assessment*	Projected Assessment*	

Venetian Isles Community Development District Assessment Comparison

Administrative	$	136.92	$	118.48	$	119.40	$	114.05	
Maintenance	$	136.31	$	153.92	$	156.37	$	157.48	

Debt

$	607.35

$	605.72

$	602.30

$	606.53

Total

$	880.58	$

878.12	$

878.07	$

878.06

* 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	

7/18/2020 9:22 AM	IV