Riverside Park Community Development District

Final Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019
ANNUAL BUDGET	
Administrative Assessments	60,862	
Maintenance Assessments	40,481	
Debt Assessments	120,339	
Other Revenues	0	
Interest Income	120	
		
TOTAL REVENUES	$	221,802	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Lawn/Landscape Maintenance	16,500	
Entrance Features	1,000	
Miscellaneous Maintenance/Improvements	7,277	
Border Hedge/Monument/Fence	8,275	
Nutritional Control/Mulch	3,500	
Engineering/Inspections	1,500	
Contingency/Reserve	0	
TOTAL MAINTENANCE EXPENDITURES	$	38,052	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	6,000	
Employer Taxes - Payroll	480	
Management	18,144	
Secretarial	2,700	
Legal	8,000	
Assessment Roll	3,500	
Audit Fees	3,700	
Insurance	6,356	
Legal Advertisements	575	
Miscellaneous	950	
Postage	275	
Office Supplies	625	
Dues & Subscriptions	175	
Trustee Fee	4,100	
Continuing Disclosure Fee	250	
Website Management	1,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	57,330	
		
TOTAL EXPENDITURES	$	95,382	
		
REVENUES LESS EXPENDITURES	$	126,420	
		
Bond Payments	(113,119)	
		
BALANCE	$	13,301	
		
County Appraiser & Tax Collector Fee	(4,434)	
Discounts For Early Payments	(8,867)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

5/10/2018 1:41 PM	I

DETAILED FINAL BUDGET
RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2016/2017 ACTUAL	
FISCAL YEAR 2017/2018 ANNUAL BUDGET	
FISCAL YEAR 2018/2019 ANNUAL BUDGET	

COMMENTS	
Administrative Assessments	59,410	60,184	60,862	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	42,048	41,159	40,481	Expenditures/.94	
Debt Assessments	120,339	120,339	120,339	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	315	60	120	Estimated At $10.00 Per Month	
					
TOTAL REVENUES	$	222,112	$	221,742	$	221,802		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Lawn/Landscape Maintenance	12,364	16,500	16,500	No Change From 2017/2018 Budget	
Entrance Features	135	1,000	1,000	No Change From 2017/2018 Budget	
Miscellaneous Maintenance/Improvements	150	7,914	7,277	$637 Decrease From 2017/2018 Budget	
Border Hedge/Monument/Fence	1,350	8,275	8,275	No Change From 2017/2018 Budget	
Nutritional Control/Mulch	0	3,500	3,500	No Change From 2017/2018 Budget	
Engineering/Inspections	850	1,500	1,500	No Change From 2017/2018 Budget	
Contingency/Reserve	0	0	0	Currently $16,270 In Available Funds	

TOTAL MAINTENANCE EXPENDITURES	$	14,849	$	38,689	$	38,052		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	4,000	6,000	6,000	No Change From 2017/2018 Budget	
Employer Taxes - Payroll	306	480	480	Projected At 8% Of Supervisor Fees	
Management	17,412	17,772	18,144	CPI Adjustment	
Secretarial	2,700	2,700	2,700	No Change From 2017/2018 Budget	
Legal	7,455	8,000	8,000	No Change From 2017/2018 Budget	
Assessment Roll	3,500	3,500	3,500	No Change From 2017/2018 Budget	
Audit Fees	3,600	3,600	3,700	$100 Increase From 2017/2018 Budget	
Insurance	5,778	6,356	6,356	Insurance Company Estimate	
Legal Advertisements	374	600	575	$25 Decrease From 2017/2018 Budget	
Miscellaneous	571	950	950	No Change From 2017/2018 Budget	
Postage	163	300	275	$25 Decrease From 2017/2018 Budget	
Office Supplies	450	650	625	$25 Decrease From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fee	3,709	3,800	4,100	Trustee (US Bank) Increasing Fees In 2018/2019	
Continuing Disclosure Fee	250	250	250	No Change From 2017/2018 Budget	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	

TOTAL ADMINISTRATIVE EXPENDITURES	$	51,943	$	56,633	$	57,330		
					
TOTAL EXPENDITURES	$	66,792	$	95,322	$	95,382		
					
REVENUES LESS EXPENDITURES	$	155,320	$	126,420	$	126,420		
					
Bond Payments	(114,559)	(113,119)	(113,119)	2019 P & I Payments Less Earned Interest	
					
BALANCE	$	40,761	$	13,301	$	13,301		
					
County Appraiser & Tax Collector Fee	(2,133)	(4,434)	(4,434)	Two Percent Of Total Tax Roll	
Discounts For Early Payments	(8,512)	(8,867)	(8,867)	Four Percent Of Total Tax Roll	
					
EXCESS/ (SHORTFALL)	$	30,116	$	-	$	-		
					
Carryover Funds From Prior Year	0	0	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	30,116	$	-	$	-		

5/10/2018 1:41 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2016/2017 ACTUAL	FISCAL YEAR 2017/2018 BUDGET	FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	

Interest Income	
191	
0	
0	
Projected Interest For FY 2018/2019	

NAV Tax Collection	
114,559	
113,119	
113,119	
Maximum Debt Service Collection	

Total Revenues	
$	114,750	
$	113,119	
$	113,119		

EXPENDITURES					

Principal Payments	
65,000	
65,000	
65,000	
Principal Payment Due In 2019	

Interest Payments	
47,938	
44,769	
42,656	
Interest Payments Due In 2019	

Bond Redemption	
0	
3,350	
5,463	
Estimated Excess Debt Collections	

Total Expenditures	
$	112,938	
$	113,119	
$	113,119		

Excess/ (Shortfall)	
$	1,812	
$	-	
$	-		

Series 2014 Bond Refunding Information
Original Par Amount =	$1,630,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.25% - 8.25%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	May 2014			
Maturity Date =

Par Amount As Of 1/1/18 =	May 2034

$1,410,000			

5/10/2018 1:41 PM

III

Riverside Park Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2015/2016	2016/2017	2017/2018	2018/2019	
Assessment	Assessment	Assessment	Projected Assessment	
   Before Discount* 	  Before Discount*	   Before Discount* 	 	Before Discount*		

Administrative	
$	289.25	
$	289.25	
$	293.59	
$	296.89	
Maintenance	$	205.11	$	205.11	$	200.77	$	197.47	
Debt	$	592.80	$	592.80	$	592.80	$	592.80	
Total	$	1,087.16	$	1,087.16	$	1,087.16	$	1,087.16	

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

Community Information:
Total Units	205
Prepayments	2
Billed for Debt	203
5/10/2018 1:41 PM	IV