Terracina 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
TERRACINA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021 BUDGET	
O & M ASSESSMENTS	131,535	
DEBT ASSESSMENTS	334,144	
OTHER REVENUES	0	
INTEREST INCOME	240	
		
TOTAL REVENUES	$	465,919	
		
EXPENDITURES		
SUPERVISOR FEES	7,000	
PAYROLL TAXES - EMPLOYER	560	
AQUATIC LAKE MAINTENANCE	22,000	
FOUNTAIN MAINTENANCE	5,000	
ENGINEERING/INSPECTIONS	6,000	
MANAGEMENT	34,428	
SECRETARIAL	4,200	
LEGAL	4,500	
ASSESSMENT ROLL	8,000	
AUDIT FEES	4,120	
INSURANCE	6,400	
LEGAL ADVERTISING	1,150	
MISCELLANEOUS	1,100	
POSTAGE	300	
OFFICE SUPPLIES	600	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	4,500	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	2,000	
CONTINGENCY	11,500	
		
TOTAL EXPENDITURES	$	123,883	
		
REVENUES LESS EXPENDITURES	$	342,036	
		
BOND PAYMENTS	(314,095)	
		
BALANCE	$	27,941	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(9,314)	
DISCOUNT FOR EARLY PAYMENTS	(18,627)	
		
EXCESS/ (SHORTFALL)	$	-	
		
CARRYOVER FROM PRIOR YEAR	0	
		
NET EXCESS / (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
TERRACINA 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	
O & M ASSESSMENTS	126,368	129,278	131,535	Expenditures Less Interest & Carryover/.94	
DEBT ASSESSMENTS	339,508	336,511	334,144	Bond Payment /.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	324	240	240	Projected At $20 Per Month	
					
TOTAL REVENUES	$	466,200	$	466,029	$	465,919		
					
EXPENDITURES					
SUPERVISOR FEES	9,400	6,000	7,000	$1,000 Increase From 2019/2020 Budget	
PAYROLL TAXES - EMPLOYER	719	480	560	Supervisor Fees * 8.00%	
AQUATIC LAKE MAINTENANCE	23,779	21,000	22,000	$1,000 Increase From 2019/2020 Budget	
FOUNTAIN MAINTENANCE	708	4,000	5,000	$1,000 Increase From 2019/2020 Budget	
ENGINEERING/INSPECTIONS	9,493	6,000	6,000	No Change From 2019/2020 Budget	
MANAGEMENT	33,036	33,660	34,428	CPI Adjustment	
SECRETARIAL	4,200	4,200	4,200	No Change From 2019/2020 Budget	
LEGAL	5,644	3,500	4,500	No Change From 2019/2020 Budget	
ASSESSMENT ROLL	8,000	8,000	8,000	No Change From 2019/2020 Budget	
AUDIT FEES	4,000	4,000	4,120	Accepted Amount For 2019/2020 Audit	
INSURANCE	5,250	6,646	6,400	Insurance Estimate	
LEGAL ADVERTISING	519	1,250	1,150	$100 Decrease From 2019/2020 Budget	
MISCELLANEOUS	1,258	1,000	1,100	$100 Increase From 2019/2020 Budget	
POSTAGE	135	300	300	No Change From 2019/2020 Budget	
OFFICE SUPPLIES	859	500	600	$100 Increase From 2019/2020 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2019/2020 Budget	
TRUSTEE FEES	4,500	4,500	4,500	No Change From 2019/2020 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2019/2020 Budget	
WEBSITE MANAGEMENT	1,500	2,000	2,000	No Change From 2019/2020 Budget	
CONTINGENCY	35,664	14,200	11,500	Contingency	
					
TOTAL EXPENDITURES	$	149,189	$	121,761	$	123,883		
					
REVENUES LESS EXPENDITURES	$	317,011	$	344,268	$	342,036		
					
BOND PAYMENTS	(323,995)	(316,320)	(314,095)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	(6,984)	$	27,948	$	27,941		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(2,483)	(9,316)	(9,314)	Two Percent Of Total Assessment Roll	
DISCOUNT FOR EARLY PAYMENTS	(16,913)	(18,632)	(18,627)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(26,380)	$	-	$	-		
					
CARRYOVER FROM PRIOR YEAR	0	0	0	Carryover From Prior Year	
					
NET EXCESS / (SHORTFALL)	$	(26,380)	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET TERRACINA 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	
6,648	
200	
200	
Projected Interest For 2020/2021	

NAV Tax Collection	
323,995	
316,320	
314,095	
2021 P & I Payments Less Earned Interest	

Total Revenues	
$	330,643	
$	316,520	
$	314,295		

EXPENDITURES					

Principal Payments	
160,000	
170,000	
175,000	
Principal Payment Due In 2021	

Interest Payments	
120,445	
111,520	
104,295	
Interest Payments Due In 2021	

Mandatory Redemption	
35,000	
35,000	
35,000	
Mandatory Redemption Due In 2021	

Total Expenditures	
$	315,445	
$	316,520	
$	314,295		

Excess/ (Shortfall)	
$	15,198	
$	-	
$	-		

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 1/1/20 =	May 2035

$3,325,000			

* - Interest Rate Is Adjustable After Ten Years

Terracina Community Development District Assessment Comparison

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

O & M		

$	150.32		

$	274.16		

$	274.79		

$	281.04		
$	
285.95	
Debt		$	848.38		$	741.52		$	740.46		$	733.14		$	727.99	
Total		$	998.70		$	1,015.68		$	1,015.25		$	1,014.18		$	1,013.94	

* 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:	

7/31/2020 1:59 PM	IV