Silver Palms Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET 10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
Administrative Assessments	61,282	61,613	61,613	
Maintenance Assessments	39,028	39,028	39,028	
Debt Assessments	122,447	122,447	122,447	
Interest Income	180	207	207	
				
TOTAL REVENUES	$	222,937	$	223,295	$	223,295	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	6,000	3,200	3,200	
Payroll Taxes (Employer)	480	245	245	
Management	18,480	18,480	18,480	
Secretarial	2,700	2,700	2,700	
Legal	8,000	5,340	5,340	
Assessment Roll	3,500	3,500	3,500	
Audit Fees	3,500	3,500	3,500	
Insurance	6,250	5,251	5,251	
Legal Advertisements	550	1,100	895	
Miscellaneous	1,200	600	393	
Postage	300	110	101	
Office Supplies	550	200	181	
Dues & Subscriptions	175	175	175	
Trustee Fee	4,100	4,080	4,080	
Continuing Disclosure Fee	250	250	250	
Website Management	1,750	1,750	1,750	
TOTAL ADMINISTRATIVE EXPENDITURES	$	57,785	$	50,481	$	50,041	
				
MAINTENANCE EXPENDITURES				
Lawn Maintenance/Landscaping	22,000	22,000	21,405	
Aquatic Maintenance	2,000	2,000	2,000	
Maintenance/District Improvements	4,205	1,500	0	
Engineering/Inspections	1,700	975	975	
Contingency/Reserve	6,782	2,000	0	
TOTAL MAINTENANCE EXPENDITURES	$	36,687	$	28,475	$	24,380	
				
TOTAL EXPENDITURES	$	94,472	$	78,956	$	74,421	
				
REVENUES LESS EXPENDITURES	$	128,465	$	144,339	$	148,874	
				
Bond Payments	(115,100)	(116,702)	(116,702)	
				
BALANCE	$	13,365	$	27,637	$	32,172	
				
County Appraiser & Tax Collector Fee	(4,455)	(2,147)	(2,147)	
Discounts For Early Payments	(8,910)	(8,308)	(8,308)	
				
EXCESS/ (SHORTFALL)	$	-	$	17,182	$	21,717	
				
Carryover From Prior Year		0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	17,182	$	21,717	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$146,460	
$17,182	
$163,642	

11/6/2020 9:48 AM	I

AMENDED FINAL BUDGET
SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET 10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR  TO DATE ACTUAL
10/1/19 - 9/29/20	
Interest Income	50	94	94	
NAV Tax Collection	115,100	116,702	116,702	
Total Revenues	$	115,150	$	116,796	$	116,796	
				
EXPENDITURES				
Principal Payments	70,000	70,000	70,000	
Interest Payments	41,113	42,250	42,250	
Bond Redemption	4,037	0	0	
Total Expenditures	$	115,150	$	112,250	$	112,250	
				
Excess/ (Shortfall)	$	-	$	4,546	$	4,546	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$95,665	
$4,546	
$100,211	

Notes
Reserve Fund Balance = $58,053*. Revenue Fund Balance = $42,158*.
Revenue Fund Balance To Be Used To Make 11/1/2020 Interest Payment Of $19,988.
* 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 9/30/20 =	$1,230,000		

11/6/2020 9:48 AM	II