Valencia Acres 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
VALENCIA ACRES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019 BUDGET	
O & M Assessments	46,421	
Debt Assessments	101,399	
Interest Income	120	
		
TOTAL REVENUES	$	147,940	
		
EXPENDITURES		
Engineering/Inspections	1,000	
Management	15,000	
Legal	7,000	
Assessment Roll	4,000	
Audit Fees	3,850	
Insurance	6,356	
Legal Advertisements	650	
Miscellaneous	500	
Postage	175	
Office Supplies	400	
Dues & Subscriptions	175	
Trustee Fee	2,800	
Continuing Disclosure Fee	350	
Website Management	1,500	
		
TOTAL EXPENDITURES	$	43,756	
		
REVENUES LESS EXPENDITURES	$	104,184	
		
Bond Payments	(95,315)	
		
Balance	$	8,869	
		
County Appraiser & Tax Collector Fee	(2,956)	
Discounts For Early Payments	(5,913)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
VALENCIA ACRES 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	
O & M Assessments	47,191	46,713	46,421	Expenditures Less Interest & Carryover/.94	
Debt Assessments	101,496	101,435	101,399	Bond Payments/.94	
Interest Income	93	120	120	Projected At $10 Per Month	
					
TOTAL REVENUES	$	148,780	$	148,268	$	147,940		
					
EXPENDITURES					
Engineering/Inspections	0	1,000	1,000	No Change From 2017/2018 Budget	
Management	15,000	15,000	15,000	No Change From 2017/2018 Budget	
Legal	5,966	7,000	7,000	No Change From 2017/2018 Budget	
Assessment Roll	4,000	4,000	4,000	No Change From 2017/2018 Budget	
Audit Fees	3,675	3,775	3,850	$75 Increase From 2017/2018 Budget	
Insurance	5,778	6,355	6,356	Insurance Company Estimate	
Legal Advertisements	513	650	650	No Change From 2017/2018 Budget	
Miscellaneous	62	500	500	No Change From 2017/2018 Budget	
Postage	129	175	175	No Change From 2017/2018 Budget	
Office Supplies	348	400	400	No Change From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fee	2,500	3,000	2,800	$200 Decrease From 2017/2018 Budget	
Continuing Disclosure Fee	350	500	350	$150 Decrease From 2017/2018 Budget	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	
					
TOTAL EXPENDITURES	$	39,996	$	44,030	$	43,756		
					
REVENUES LESS EXPENDITURES	$	108,784	$	104,238	$	104,184		
					
Bond Payments	(96,980)	(95,349)	(95,315)	2019 P & I Payments Less Earned Interest	
					
Balance	$	11,804	$	8,889	$	8,869		
					
County Appraiser & Tax Collector Fee	(1,435)	(2,963)	(2,956)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(5,173)	(5,926)	(5,913)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	5,196	$	-	$	-		
					
Carryover From Prior Year	0	0	0	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	5,196	$	-	$	-		

DETAILED FINAL DEBT SERVICE BUDGET
VALENCIA ACRES 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	
190	
25	
25	
Projected Interest For 2018/2019	

NAV Tax Collection	
96,980	
95,349	
95,315	
2018 P & I Payments Less Earned Interest	

Total Revenues	
$	97,170	
$	95,374	
$	95,340		

EXPENDITURES					

Principal Payments	
51,422	
53,247	
55,136	
Principal Payment Due In 2018	

Interest Payments	
34,816	
42,127	
40,204	
Interest Payments Due In 2018	

Total Expenditures	
$	86,238	
$	95,374	
$	95,340		

Excess/ (Shortfall)	
$	10,932	
$	-	
$	-		

Series 2016 Bond Refunding Information

Original Par Amount =	$1,265,410	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.5% - 5.8%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	July 2016			
Maturity Date =

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

$1,213,988			

Valencia Acres Community Development District
Assessment Comparison

Original	2017 through 2025	2026 through 2034	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	Debt Service	Debt Service	2015/2016	2016/2017	2017/2018	2018/2019	
Assessment	Assessment	Assessment	Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	

O & M	$	
-	
$	
-	
$	
-	
$	
312.83	
$	
325.83	
$	
324.39	
$	
322.37	
Debt	$	-		$	704.84	$	809.51	$	835.59	$	704.84	$	704.84	$	704.84	

Total	$	1,187.50	$	704.84	$	809.51	$	1,148.42	$	1,030.67	$	1,029.23	$	1,027.21	

* Assessments Include the Following :

4% Discount for Early Payments 1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:
Total Units	144

5/8/2018  8:04 AM	IV