Riverside Park 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
RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021 ANNUAL BUDGET	
Administrative Assessments	61,256	
Maintenance Assessments	40,087	
Debt Assessments	120,339	
Other Revenues	0	
Interest Income	240	
		
TOTAL REVENUES	$	221,922	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Lawn/Landscape Maintenance	16,500	
Entrance Features	1,000	
Miscellaneous Maintenance/Improvements	6,907	
Border Hedge/Monument/Fence	8,275	
Nutritional Control/Mulch	3,500	
Engineering/Inspections	1,500	
Contingency/Reserve	0	
TOTAL MAINTENANCE EXPENDITURES	$	37,682	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	6,000	
Employer Taxes - Payroll	480	
Management	18,990	
Secretarial	2,700	
Legal	8,000	
Assessment Roll	3,500	
Audit Fees	3,600	
Insurance	6,000	
Legal Advertisements	550	
Miscellaneous	950	
Postage	225	
Office Supplies	550	
Dues & Subscriptions	175	
Trustee Fee	4,100	
Continuing Disclosure Fee	250	
Website Management	1,750	
TOTAL ADMINISTRATIVE EXPENDITURES	$	57,820	
		
TOTAL EXPENDITURES	$	95,502	
		
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)	$	-	

7/10/2020 9:43 AM	I

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

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

COMMENTS	
Administrative Assessments	61,142	61,122	61,256	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	40,481	40,221	40,087	Expenditures/.94	
Debt Assessments	120,339	120,339	120,339	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	413	180	240	Estimated At $20.00 Per Month	
					
TOTAL REVENUES	$	222,375	$	221,862	$	221,922		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Lawn/Landscape Maintenance	9,192	16,500	16,500	No Change From 2019/2020 Budget	
Entrance Features	0	1,000	1,000	No Change From 2019/2020 Budget	
Miscellaneous Maintenance/Improvements	0	7,032	6,907	$125 Decrease From 2019/2020 Budget	
Border Hedge/Monument/Fence	0	8,275	8,275	No Change From 2019/2020 Budget	
Nutritional Control/Mulch	0	3,500	3,500	No Change From 2019/2020 Budget	
Engineering/Inspections	1,050	1,500	1,500	No Change From 2019/2020 Budget	
Contingency/Reserve	0	0	0	Currently $16,270 In Available Funds	

TOTAL MAINTENANCE EXPENDITURES	$	10,242	$	37,807	$	37,682		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	3,200	6,000	6,000	No Change From 2019/2020 Budget	
Employer Taxes - Payroll	245	480	480	Projected At 8% Of Supervisor Fees	
Management	18,144	18,480	18,990	CPI Adjustment	
Secretarial	2,700	2,700	2,700	No Change From 2019/2020 Budget	
Legal	4,760	8,000	8,000	No Change From 2019/2020 Budget	
Assessment Roll	3,500	3,500	3,500	No Change From 2019/2020 Budget	
Audit Fees	3,600	3,600	3,600	Accepted Amount For 2019/2020 Audit	
Insurance	5,000	6,250	6,000	Insurance Estimate	
Legal Advertisements	266	550	550	No Change From 2019/2020 Budget	
Miscellaneous	652	950	950	No Change From 2019/2020 Budget	
Postage	113	250	225	$25 Decrease From 2019/2020 Budget	
Office Supplies	275	600	550	$50 Decrease From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fee	4,080	4,100	4,100	No Change From 2019/2020 Budget	
Continuing Disclosure Fee	250	250	250	No Change From 2019/2020 Budget	
Website Management	1,500	1,750	1,750	No Change From 2019/2020 Budget	

TOTAL ADMINISTRATIVE EXPENDITURES	$	48,460	$	57,635	$	57,820		
					
TOTAL EXPENDITURES	$	58,702	$	95,442	$	95,502		
					
REVENUES LESS EXPENDITURES	$	163,673	$	126,420	$	126,420		
					
Bond Payments	(114,615)	(113,119)	(113,119)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	49,058	$	13,301	$	13,301		
					
County Appraiser & Tax Collector Fee	(2,134)	(4,434)	(4,434)	Two Percent Of Total Tax Roll	
Discounts For Early Payments	(8,415)	(8,867)	(8,867)	Four Percent Of Total Tax Roll	
					
EXCESS/ (SHORTFALL)	$	38,509	$	-	$	-		
					
Carryover Funds From Prior Year	0	0	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	38,509	$	-	$	-		

7/10/2020 9:43 AM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
RIVERSIDE PARK 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	
342	
25	
25	
Projected Interest For FY 2020/2021	

NAV Tax Collection	
114,615	
113,119	
113,119	
Maximum Debt Service Collection	

Total Revenues	
$	114,957	
$	113,144	
$	113,144		

EXPENDITURES					

Principal Payments	
65,000	
70,000	
70,000	
Principal Payment Due In 2021	

Interest Payments	
43,550	
40,138	
37,863	
Interest Payments Due In 2021	

Bond Redemption	
10,000	
3,006	
5,281	
Estimated Excess Debt Collections	

Total Expenditures	
$	118,550	
$	113,144	
$	113,144		

Excess/ (Shortfall)	
$	(3,593)	
$	-	
$	-		

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 1/1/20 =	May 2034

$1,270,000			

7/10/2020 9:43 AM

III

Riverside Park Community Development District Assessment Comparison

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

Administrative	
$	293.59	
$	296.89	
$	298.16	
$	298.81	
Maintenance	$	200.77	$	197.47	$	196.20	$	195.55	
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
7/10/2020 9:43 AM	IV