Silver Palms Community Development District

Amended Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET 10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Administrative Assessments	61,436	61,601	61,601	
Maintenance Assessments	38,874	38,874	38,874	
Debt Assessments	122,447	122,447	122,447	
Interest Income	180	221	221	
				
TOTAL REVENUES	$	222,937	$	223,143	$	223,143	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	6,000	3,000	3,000	
Payroll Taxes (Employer)	480	230	230	
Management	18,900	18,900	18,900	
Secretarial	2,700	2,700	2,700	
Legal	8,000	4,985	4,985	
Assessment Roll	3,500	3,500	3,500	
Audit Fees	3,600	3,600	3,600	
Insurance	6,000	5,513	5,513	
Legal Advertisements	550	550	293	
Miscellaneous	1,100	750	322	
Postage	275	120	116	
Office Supplies	550	200	168	
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	$	57,930	$	50,303	$	49,582	
				
MAINTENANCE EXPENDITURES				
Lawn Maintenance/Landscaping	22,000	23,000	21,955	
Aquatic Maintenance	2,000	2,000	2,000	
Maintenance/District Improvements	4,205	1,500	154	
Engineering/Inspections	1,900	1,075	1,075	
Contingency/Reserve	6,437	3,000	0	
TOTAL MAINTENANCE EXPENDITURES	$	36,542	$	30,575	$	25,184	
				
TOTAL EXPENDITURES	$	94,472	$	80,878	$	74,766	
				
REVENUES LESS EXPENDITURES	$	128,465	$	142,265	$	148,377	
				
Bond Payments	(115,100)	(116,653)	(116,653)	
				
BALANCE	$	13,365	$	25,612	$	31,724	
				
County Appraiser & Tax Collector Fee	(4,455)	(2,145)	(2,145)	
Discounts For Early Payments	(8,910)	(8,397)	(8,397)	
				
EXCESS/ (SHORTFALL)	$	-	$	15,070	$	21,182	
				
Carryover From Prior Year		0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	15,070	$	21,182	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$168,177	
$15,070	
$183,247	

10/28/2021 8:35 AM	I

AMENDED FINAL BUDGET
SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET 10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Interest Income	50	6	6	
NAV Tax Collection	115,100	116,653	116,653	
Total Revenues	$	115,150	$	116,659	$	116,659	
				
EXPENDITURES				
Principal Payments	75,000	75,000	75,000	
Interest Payments	38,756	39,975	39,975	
Bond Redemption	1,394	0	0	
Total Expenditures	$	115,150	$	114,975	$	114,975	
				
Excess/ (Shortfall)	$	-	$	1,684	$	1,684	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$100,211	
$1,684	
$101,895	

Notes
Reserve Fund Balance = $58,055*. Revenue Fund Balance = $43,840*.
Revenue Fund Balance To Be Used To Make 11/1/2021 Interest Payment Of $18,769.
* 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 9/30/21=	$1,155,000		

10/28/2021 8:35 AM	II