Silver Palms Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET 10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 9/29/19	
Administrative Assessments	61,340	61,752	61,752	
Maintenance Assessments	38,970	38,970	38,970	
Debt Assessments	122,447	122,447	122,447	
Interest Income	120	346	346	
				
TOTAL REVENUES	$	222,877	$	223,515	$	223,515	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	6,000	3,200	3,200	
Payroll Taxes (Employer)	480	245	245	
Management	18,144	18,144	18,144	
Secretarial	2,700	2,700	2,700	
Legal	8,000	6,133	6,133	
Assessment Roll	3,500	3,500	3,500	
Audit Fees	3,900	3,400	3,400	
Insurance	6,356	5,000	5,000	
Legal Advertisements	575	575	354	
Miscellaneous	1,200	1,000	703	
Postage	325	135	128	
Office Supplies	575	500	474	
Dues & Subscriptions	175	175	175	
Trustee Fee	4,100	4,079	4,079	
Continuing Disclosure Fee	250	250	250	
Website Management	1,500	1,500	1,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	57,780	$	50,536	$	49,985	
				
MAINTENANCE EXPENDITURES				
Lawn Maintenance/Landscaping	22,000	20,500	19,285	
Aquatic Maintenance	2,000	2,000	2,000	
Maintenance/District Improvements	4,150	1,500	753	
Engineering/Inspections	1,700	1,900	1,900	
Contingency/Reserve	6,782	1,000	0	
TOTAL MAINTENANCE EXPENDITURES	$	36,632	$	26,900	$	23,938	
				
TOTAL EXPENDITURES	$	94,412	$	77,436	$	73,923	
				
REVENUES LESS EXPENDITURES	$	128,465	$	146,079	$	149,592	
				
Bond Payments	(115,100)	(116,726)	(116,726)	
				
BALANCE	$	13,365	$	29,353	$	32,866	
				
County Appraiser & Tax Collector Fee	(4,455)	(2,147)	(2,147)	
Discounts For Early Payments	(8,910)	(8,265)	(8,265)	
				
EXCESS/ (SHORTFALL)	$	-	$	18,941	$	22,454	
				
Carryover From Prior Year	0	0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	18,941	$	22,454	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$124,006	
$18,941	
$142,947	

11/7/2019 8:01 AM	I

AMENDED FINAL BUDGET
SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET 10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR  TO DATE ACTUAL
10/1/18 - 9/29/19	
Interest Income	50	336	336	
NAV Tax Collection	115,100	116,726	116,726	
Total Revenues	$	115,150	$	117,062	$	117,062	
				
EXPENDITURES				
Principal Payments	70,000	70,000	70,000	
Interest Payments	43,713	44,688	44,688	
Bond Redemption	1,437	10,000	10,000	
Total Expenditures	$	115,150	$	134,688	$	124,688	
				
Excess/ (Shortfall)	$	-	$	(7,626)	$	(7,626)	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
6FUND BALANCE AS OF 9/30/19	

$103,291	
($7,626)	
$95,665	

Notes
Reserve Fund Balance = $58,003*. Revenue Fund Balance = $37,662*.
Revenue Fund Balance To Be Used To Make 11/1/2019 Interest Payment Of $21,125.
* Approximate Amounts

Series 2014 Bond Refunding Information		
Original Par Amount =	$1,660,000	Annual Principal Payments Due:	
Interest Rate =	3.25% - 8.25%	May 1st	
Issue Date =	April 2014	Annual Interest Payments Due:	
Maturity Date =	May 2034	May 1st & November 1st	
Par Amount As Of 9/30/19 =	$1,300,000		

11/7/2019 8:01 AM	II