Renaissance Commons 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
RENAISSANCE COMMONS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019 BUDGET	
O&M Assessments	81,163	
Debt Assessments	1,202,042	
Other Revenues	0	
Interest Income	360	
		
TOTAL REVENUES	$	1,283,565	
		
EXPENDITURES		
Supervisor Fees	3,000	
Payroll Taxes - Employer	240	
Engineering/Inspections	1,900	
Management	29,832	
Secretarial	4,200	
Legal	9,500	
Assessment Roll	5,500	
Audit Fees	3,700	
Arbitrage Rebate Fee	650	
Insurance	6,356	
Legal Advertisements	1,000	
Miscellaneous	1,000	
Postage	350	
Office Supplies	450	
Dues & Subscriptions	175	
Trustee Fee	6,300	
Continuing Disclosure Fee	1,000	
Website Management	1,500	
		
TOTAL EXPENDITURES	$	76,653	
		
REVENUES LESS EXPENDITURES	$	1,206,912	
		
Bond Payments	(1,129,920)	
		
BALANCE	$	76,992	
		
County Appraiser & Tax Collector Fee	(25,664)	
Discounts For Early Payments	(51,328)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

Note: 2019 Principal & Interest Payments To Be Lower Than Budget Due To Bond Prepayments

DETAILED FINAL BUDGET
RENAISSANCE COMMONS 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	37,721	81,177	81,163	Expenditures Less Interest & Carryover Balance/.94	
Debt Assessments	1,404,154	1,202,042	1,202,042	Bond Payment/.94	
Other Revenues	0	0	0		
Interest Income	279	360	360	Projected At $30 Per Month	
					
TOTAL REVENUES	$	1,442,154	$	1,283,579	$	1,283,565		
					
EXPENDITURES					
Supervisor Fees	800	3,000	3,000	No Change From 2017/2018 Budget	
Payroll Taxes - Employer	61	240	240	Projected At 8% Of Supervisor Fees	
Engineering/Inspections	1,205	1,900	1,900	No Change From 2017/2018 Budget	
Management	28,620	29,220	29,832	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2017/2018 Budget	
Legal	7,161	10,000	9,500	$500 Decrease From 2017/2018 Budget	
Assessment Roll	5,500	5,500	5,500	No Change From 2017/2018 Budget	
Audit Fees	3,500	3,600	3,700	$100 Increase From 2017/2018 Budget	
Arbitrage Rebate Fee	650	650	650	No Change From 2017/2018 Budget	
Insurance	5,778	6,356	6,356	Insurance Company Estimate	
Legal Advertisements	1,469	1,000	1,000	No Change From 2017/2018 Budget	
Miscellaneous	623	1,200	1,000	$200 Decrease From 2017/2018 Budget	
Postage	183	375	350	$25 Decrease From 2017/2018 Budget	
Office Supplies	386	450	450	No Change From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fee	6,505	6,300	6,300	No Change From 2017/2018 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2017/2018 Budget	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	
					
TOTAL EXPENDITURES	$	69,316	$	76,666	$	76,653		
					
REVENUES LESS EXPENDITURES	$	1,372,838	$	1,206,913	$	1,206,912		
					
Bond Payments	(1,351,528)	(1,129,920)	(1,129,920)	2019 Principal & Interest Payments Less Earned Interest	
					
BALANCE	$	21,310	$	76,993	$	76,992		
					
County Appraiser & Tax Collector Fee	(7,582)	(25,664)	(25,664)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(41,970)	(51,329)	(51,328)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(28,242)	$	-	$	-		
					
Carryover From Prior Year	0	0	0	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(28,242)	$	-	$	-		

Note: 2019 Principal & Interest Payments To Be Lower Than Budget Due To Bond Prepayments

DETAILED FINAL DEBT SERVICE BUDGET
RENAISSANCE COMMONS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	

FISCAL YEAR

2016/2017

ANNUAL	

FISCAL YEAR

2017/2018

BUDGET	

FISCAL YEAR

2018/2019

BUDGET	

COMMENTS	

Interest Income	

2,789	

100	

100	

Projected Interest For 2018/2019	

NAV Tax Collection	

1,351,528	

1,129,920	

1,129,920	

Yearly Maximum Debt Assessment	

Total Revenues	

$	1,354,317	

$	1,130,020	

$	1,130,020		

EXPENDITURES					

Principal Payments - A-1	

0	

483,000	

499,000	

Principal Payment Due In 2019	

Principal Payments - A-2	

0	

94,000	

99,000	

Principal Payment Due In 2019	

Interest Payments - 2005	

845,547	

0	

0		

Interest Payments - A-1	

49,649	

398,369	

382,411	

Interest Payments Due In 2019	

Interest Payments - A-2	

19,109	

153,877	

148,811	

Interest Payments Due In 2019	

Bond Redemption	

0	

774	

798	

Estimated Excess Debt Collections	

Total Expenditures	

$	914,305	

$	1,130,020	

$	1,130,020		

Excess/ (Shortfall)	

$	440,012	

$	-	

$	-		

Note: 2019 Principal & Interest Payments To Be Lower Than Budget Due To Bond Prepayments

Series 2017A-1 Bond Refunding Information	
Original Par Amount =	$12,499,000	Annual Principal Payments Due =	May 1st	
Interest Rate = Issue Date = Maturity Date =	3.25%
March 2017
May 2036	Annual Interest Payments Due =	May 1st & November 1st	
Par Amount As Of 1/1/18 =	$12,499,000			
	
Series 2017A-2 Bond Refunding Information		
Original Par Amount =	$2,978,000	Annual Principal Payments Due =	May 1st	
Interest Rate = Issue Date = Maturity Date =	5.25%
March 2017
May 2036	Annual Interest Payments Due =	May 1st & November 1st	
Par Amount As Of 1/1/18 =	$2,978,000			

Renaissance Commons Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2015/2016	2016/2017	2017/2018	2018/2019	
Assessment	Assessment	Assessment	Projected Assessment	Projected Assessment	

Lot
Type	 	Before Discount*	 	Before Discount*	 	Before Discount*	 	Before Discount*	Before Discount*

Townhome	O & M	$	-	$	25.40	$	25.34	$	55.10	$	55.09	
	Debt	$	987.50	$	985.29	$	985.07	$	852.29	$	852.29	
	Sub-Total For Townhomes	$	987.50	$	1,010.69	$	1,010.41	$	907.39	$	907.38	

3 Bedroom	
O & M	
$	
-	
$	
22.50	
$	
22.45	
$	
48.82	
$	
48.81	
Condo	Debt	$	874.93	$	872.97	$	872.78	$	755.13	$	755.13	
	Sub-Total For 3 Bedroom Condos	$	874.93	$	895.47	$	895.23	$	803.95	$	803.94	

2 Bedroom	
O & M	
$	
-	
$	
19.28	
$	
19.23	
$	
41.82	
$	
41.82	
Condo	Debt	$	749.51	$	747.83	$	747.67	$	646.89	$	646.89	
	Sub-Total For 2 Bedroom Condos	$	749.51	$	767.11	$	766.90	$	688.71	$	688.71	

1 Bedroom	
O & M	
$	
-	
$	
17.68	
$	
17.64	
$	
38.35	
$	
38.35	
Condo	Debt	$	687.30	$	685.76	$	685.61	$	593.20	$	593.20	
	Sub-Total For 1 Bedroom Condos	$	687.30	$	703.44	$	703.25	$	631.55	$	631.55	

Commercial	
O & M	
$	
-	
$	
1,550.01	
$	
1,546.57	
$	
3,363.15	
$	
3,362.58	
Debt	$	61,648.94	$	61,511.10	$	61,497.46	$	52,018.95	$	52,018.95	
Sub-Total For Commercial	$	61,648.94	$	63,061.11	$	63,044.03	$	55,382.10	$	55,381.53	

Retail	O & M

$	-	$

1,595.46	$

1,591.92	$

3,461.75	$

3,461.16

Debt

$	-	$	- 

$	-	$	-	$	- 

Sub-Total For Retail	$

-	$	1,595.46	$

1,591.92	$

3,461.75	$

3,461.16

* Assessments Include the Following :	 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee Community Information:
Note: 492 Bond Prepayments As Of July 2018:
1 Bedroom Condos (86), 2 Bedroom Condos (324), 3 Bedroom Condos (82)

Residential Units
Townhomes	
310	
3 Bedroom Condos	203	
2 Bedroom Condos	805	
1 Bedroom Condos	357	
Total Residential Units	1,675	
Commercial/Retail Square Footage Commercial	
175,385	
Retail	180,527	
Total Commercial/Retail Square Footage	355,912