Terracina Community Development District

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

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
TERRACINA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
O & M ASSESSMENTS	129,278	
DEBT ASSESSMENTS	336,511	
OTHER REVENUES	0	
INTEREST INCOME	240	
		
TOTAL REVENUES	$	466,029	
		
EXPENDITURES		
SUPERVISOR FEES	6,000	
PAYROLL TAXES - EMPLOYER	480	
AQUATIC LAKE MAINTENANCE	21,000	
FOUNTAIN MAINTENANCE	4,000	
ENGINEERING/INSPECTIONS	6,000	
MANAGEMENT	33,660	
SECRETARIAL	4,200	
LEGAL	3,500	
ASSESSMENT ROLL	8,000	
AUDIT FEES	4,000	
INSURANCE	6,646	
LEGAL ADVERTISING	1,250	
MISCELLANEOUS	1,000	
POSTAGE	300	
OFFICE SUPPLIES	500	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	4,500	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	2,000	
CONTINGENCY	14,200	
		
TOTAL EXPENDITURES	$	121,761	
		
REVENUES LESS EXPENDITURES	$	344,268	
		
BOND PAYMENTS	(316,320)	
		
BALANCE	$	27,948	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(9,316)	
DISCOUNT FOR EARLY PAYMENTS	(18,632)	
		
EXCESS/ (SHORTFALL)	$	-	
		
CARRYOVER FROM PRIOR YEAR	0	
		
NET EXCESS / (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
TERRACINA 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	
O & M ASSESSMENTS	126,023	126,401	129,278	Expenditures Less Interest & Carryover/.94	
DEBT ASSESSMENTS	340,012	339,872	336,511	Bond Payment /.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	251	240	240	Projected At $20 Per Month	
					
TOTAL REVENUES	$	466,286	$	466,513	$	466,029		
					
EXPENDITURES					
SUPERVISOR FEES	4,400	6,000	6,000	No Change From 2018/2019 Budget	
PAYROLL TAXES - EMPLOYER	337	480	480	Supervisor Fees * 8.00%	
AQUATIC LAKE MAINTENANCE	20,322	20,000	21,000	$1,000 Increase From 2018/2019 Budget	
FOUNTAIN MAINTENANCE	7,095	3,000	4,000	$1,000 Increase From 2018/2019 Budget	
ENGINEERING/INSPECTIONS	5,691	6,000	6,000	No Change From 2018/2019 Budget	
MANAGEMENT	32,364	33,036	33,660	CPI Adjustment	
SECRETARIAL	4,200	4,200	4,200	No Change From 2018/2019 Budget	
LEGAL	2,331	3,500	3,500	No Change From 2018/2019 Budget	
ASSESSMENT ROLL	8,000	8,000	8,000	No Change From 2018/2019 Budget	
AUDIT FEES	4,120	4,220	4,000	Accepted Amount For 2018/2019 Audit	
INSURANCE	6,042	6,646	6,646	Insurance Estimate	
LEGAL ADVERTISING	1,442	1,150	1,250	$100 Increase From 2018/2019 Budget	
MISCELLANEOUS	625	1,000	1,000	No Change From 2018/2019 Budget	
POSTAGE	82	300	300	No Change From 2018/2019 Budget	
OFFICE SUPPLIES	297	500	500	No Change From 2018/2019 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2018/2019 Budget	
TRUSTEE FEES	4,500	4,500	4,500	No Change From 2018/2019 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2018/2019 Budget	
WEBSITE MANAGEMENT	1,500	1,500	2,000	$500 Increase From 2018/2019 Budget	
CONTINGENCY	0	14,500	14,200	Contingency	
					
TOTAL EXPENDITURES	$	103,873	$	119,057	$	121,761		
					
REVENUES LESS EXPENDITURES	$	362,413	$	347,456	$	344,268		
					
BOND PAYMENTS	(324,511)	(319,480)	(316,320)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$	37,902	$	27,976	$	27,948		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(2,659)	(9,325)	(9,316)	Two Percent Of Total Assessment Roll	
DISCOUNT FOR EARLY PAYMENTS	(16,862)	(18,651)	(18,632)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	18,381	$	-	$	-		
					
CARRYOVER FROM PRIOR YEAR	0	0	0	Carryover From Prior Year	
					
NET EXCESS / (SHORTFALL)	$	18,381	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
TERRACINA 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	
4,116	
200	
200	
Projected Interest For 2019/2020	

NAV Tax Collection	
324,511	
319,480	
316,320	
2020 P & I Payments Less Earned Interest	

Total Revenues	
$	328,627	
$	319,680	
$	316,520		

EXPENDITURES					

Principal Payments	
155,000	
160,000	
170,000	
Principal Payment Due In 2020	

Interest Payments	
126,990	
119,680	
111,520	
Interest Payments Due In 2020	

Mandatory Redemption	
40,000	
40,000	
35,000	
Mandatory Redemption Due In 2020	

Total Expenditures	
$	321,990	
$	319,680	
$	316,520		

Excess/ (Shortfall)	
$	6,637	
$	-	
$	-		

Series 2014 Bond Refunding Information
Original Par Amount = Interest Rate =	$4,260,000 3.4%*	Annual Principal Payments Due = Annual Interest Payments Due =	May 1st
May 1st & November 1st	
Issue Date =	June 2014			
Maturity Date =

Par Amount As Of 1/1/19 =	May 2035

$3,525,000			

* - Interest Rate Is Adjustable After Ten Years

Terracina Community Development District Assessment Comparison

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

O & M		

$	150.32		

$	214.74		

$	274.16		

$	274.79		
$	
281.04	
Debt		$	848.38		$	744.82		$	741.52		$	740.46		$	733.14	
Total		$	998.70		$	959.56		$	1,015.68		$	1,015.25		$	1,014.18	

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

Total Units	460	
Prepayments	1	
Billed for Debt	459	

1% County Property Appraiser Fee Community Information:	

3/1/2019 10:07 AM	IV