Renaissance Commons Community Development District

Final Budget For Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
RENAISSANCE COMMONS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
O&M Assessments	130,068	
Debt Assessments	576,003	
Other Revenues	0	
Interest Income	240	
		
TOTAL REVENUES	$	706,311	
		
EXPENDITURES		
Supervisor Fees	3,000	
Payroll Taxes - Employer	240	
Engineering/Inspections	7,500	
Management	31,524	
Secretarial	4,200	
Legal	9,500	
Assessment Roll	5,500	
Audit Fees	3,650	
Arbitrage Rebate Fee	650	
Insurance	6,065	
Legal Advertisements	1,300	
Miscellaneous	900	
Postage	325	
Office Supplies	475	
Dues & Subscriptions	175	
Trustee Fee	5,500	
Website Management	2,000	
Maintenance Reserve	40,000	
		
TOTAL EXPENDITURES	$	122,504	
		
REVENUES LESS EXPENDITURES	$	583,807	
		
Bond Payments	(541,442)	
		
BALANCE	$	42,365	
		
County Appraiser & Tax Collector Fee	(14,122)	
Discounts For Early Payments	(28,243)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

Note: 2022 Principal & Interest Payments Could Be Lower Than Budget Due To Bond Prepayments

6/29/2021 5:14 PM	I

DETAILED FINAL BUDGET
RENAISSANCE COMMONS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2019/2020
ACTUAL	
FISCAL YEAR 2020/2021
BUDGET	
FISCAL YEAR 2021/2022
BUDGET	

COMMENTS	
O&M Assessments	82,159	81,922	130,068	Expenditures Less Interest & Carryover Balance/.94	
Debt Assessments	831,901	808,479	576,003	Bond Payment/.94	
Other Revenues	0	0	0		
Interest Income	209	240	240	Projected At $20 Per Month	
					
TOTAL REVENUES	$	914,269	$	890,641	$	706,311		
					
EXPENDITURES					
Supervisor Fees	2,600	3,000	3,000	No Change From 2020/2021 Budget	
Payroll Taxes - Employer	199	240	240	Projected At 8% Of Supervisor Fees	
Engineering/Inspections	4,140	7,500	7,500	No Change From 2020/2021 Budget	
Management	30,396	31,092	31,524	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2020/2021 Budget	
Legal	7,628	9,500	9,500	No Change From 2020/2021 Budget	
Assessment Roll	5,500	5,500	5,500	No Change From 2020/2021 Budget	
Audit Fees	3,500	3,500	3,650	Accepted Amount For 2020/2021 Audit	
Arbitrage Rebate Fee	650	650	650	No Change From 2020/2021 Budget	
Insurance	5,251	6,065	6,065	Insurance Estimate	
Legal Advertisements	1,778	1,100	1,300	$200 Increase From 2020/2021 Budget	
Miscellaneous	766	900	900	No Change From 2020/2021 Budget	
Postage	125	325	325	No Change From 2020/2021 Budget	
Office Supplies	255	500	475	$25 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fee	4,784	6,000	5,500	$500 Decrease From 2020/2021 Budget	
Website Management	2,000	2,000	2,000	No Change From 2020/2021 Budget	
Maintenance Reserve	0	0	40,000	Maintenance Reserve	
					
TOTAL EXPENDITURES	$	73,947	$	82,247	$	122,504		
					
REVENUES LESS EXPENDITURES	$	840,322	$	808,394	$	583,807		
					
Bond Payments	(794,191)	(759,970)	(541,442)	2022 Principal & Interest Payments Less Earned Interest	
					
BALANCE	$	46,131	$	48,424	$	42,365		
					
County Appraiser & Tax Collector Fee	(4,872)	(17,808)	(14,122)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(32,847)	(35,616)	(28,243)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	8,412	$	(5,000)	$	-		
					
Carryover From Prior Year	0	5,000	0	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	8,412	$	-	$	-		

Note: 2022 Principal & Interest Payments Could Be Lower Than Budget Due To Bond Prepayments

6/29/2021 5:14 PM	II

DETAILED FINAL DEBT SERVICE BUDGET
RENAISSANCE COMMONS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	

FISCAL YEAR

2019/2020

ANNUAL	

FISCAL YEAR

2020/2021

BUDGET	

FISCAL YEAR

2021/2022

BUDGET	

COMMENTS	

Interest Income	

1,373	

300	

25	

Projected Interest For 2021/2022	

NAV Tax Collection	

794,191	

759,970	

541,442	

Yearly Maximum Debt Assessment	

Prepaid Bond Collection	

177,966	

0	

0		

Total Revenues	

$	973,530	

$	760,270	

$	541,467		

EXPENDITURES					

Principal Payments - A-1	

557,000	

456,000	

336,000	

Principal Payment Due In 2022	

Interest Payments - A-1	

320,076	

295,720	

199,663	

Interest Payments Due In 2022	

Bond Redemption	

0	

8,550	

5,804	

Estimated Excess Debt Collections	

Total Expenditures	

$	877,076	

$	760,270	

$	541,467		

Excess/ (Shortfall)	

$	96,454	

$	-	

$	-		

Note: 2022 Principal & Interest Payments Could 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 =

Note: $2,300,000 Extraordinary Principal Payment	May 1st & November 1st	

Par Amount As Of 6/1/21 =	
$8,683,000	To Be Made In November 2020		

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 6/1/21 =	$0	Series 2017A-2 Bond Paid Off In November 2018		

6/29/2021  5:14 PM	III

Renaissance Commons Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2018/2019	2019/2020	2020/2021	2021/2022	
Assessment	Projected Assessment	Assessment	Assessment	Projected Assessment	

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

Townhome	O & M	$	-	$	55.09	$	55.61	$	55.61	$	88.30	
	Debt	$	987.50	$	852.29	$	818.20	$	801.84	$	793.82	
	Sub-Total For Townhomes	$	987.50	$	907.38	$	873.81	$	857.45	$	882.12	

3 Bedroom	
O & M	
$	
-	
$	
48.81	
$	
49.27	
$	
49.27	
$	
78.23	
Condo	Debt	$	874.93	$	755.13	$	724.93	$	710.53	$	703.42	
	Sub-Total For 3 Bedroom Condos	$	874.93	$	803.94	$	774.20	$	759.80	$	781.65	

2 Bedroom	
O & M	
$	
-	
$	
41.82	
$	
42.21	
$	
42.21	
$	
67.02	
Condo	Debt	$	749.51	$	646.89	$	621.02	$	608.59	$	602.50	
	Sub-Total For 2 Bedroom Condos	$	749.51	$	688.71	$	663.23	$	650.80	$	669.52	

1 Bedroom	
O & M	
$	
-	
$	
38.35	
$	
38.70	
$	
38.70	
$	
61.45	
Condo	Debt	$	687.30	$	593.20	$	569.48	$	558.08	$	552.50	
	Sub-Total For 1 Bedroom Condos	$	687.30	$	631.55	$	608.18	$	596.78	$	613.95	

Commercial	
O & M	
$	
-	
$	
3,362.58	
$	
3,394.04	
$	
3,394.04	
$	
5,388.72	

Debt

$	61,648.94

$	52,018.95

$	49,938.20

$	48,934.52

$	48,445.18

Sub-Total For Commercial

$	61,648.94	$

55,381.53	$

53,332.24	$

52,328.56	$

53,833.90

Retail	O & M

$	-	$

3,461.16	$

3,493.55	$

3,493.55	$

5,546.71

Debt

$	-	$	- 

$	-	$	-	$	- 

Sub-Total For Retail	$

-	$	3,461.16	$

3,493.55	$

3,493.55	$

5,546.71

* Assessments Include the Following :			
4% Discount for Early Payments		
1% County Tax Collector Fee		
1% County Property Appraiser Fee		

Community Information:		

Note: 897 Bond Prepayments As Of May 2021:		
1 Bedroom Condos (230), 2 Bedroom Condos (522), 3 Bedroom Condos (145)		
Residential Units	       Assessed For Debt 	
Townhomes	310	310	
3 Bedroom Condos	203	58	
2 Bedroom Condos	805	283	
1 Bedroom Condos	357	 	127	
Total Residential Units	1,675	778	
Commercial/Retail Square Footage		
Commercial	175,385	175,385	
Retail	180,527	0	
Total Commercial/Retail Square Footage	355,912	175,385	

6/29/2021 5:14 PM	IV