Meadow Pines 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
MEADOW PINES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019 BUDGET	
O&M Assessments	49,910	
Debt Assessments	691,982	
Other Revenue	1,200	
Interest Income	300	
		
TOTAL REVENUES	$	743,392	
		
EXPENDITURES		
Supervisor Fees	2,400	
Payroll Taxes	200	
Engineering	2,500	
Management	13,644	
Legal	9,000	
Assessment Roll	6,000	
Audit Fees	3,500	
Arbitrage Rebate Fee	600	
Insurance	7,500	
Legal Advertisements	1,000	
Miscellaneous	900	
Postage	275	
Office Supplies	575	
Dues & Subscriptions	175	
Trustee Fees	6,820	
Continuing Disclosure Fee	1,000	
Website Management	1,500	
Reserve	3,326	
		
TOTAL EXPENDITURES	$	60,915	
		
REVENUES LESS EXPENDITURES	$	682,477	
		
Bond Payments	(650,463)	
		
BALANCE	$	32,014	
		
County Appraiser & Tax Collector Fee	(14,838)	
Discounts For Early Payments	(29,676)	
		
EXCESS/ (SHORTFALL)	$	(12,500)	
		
Carryover From Prior Year	12,500	
		
NET EXCESS / (SHORTFALL)	$	-	

I

7/8/2018 5:28 PM

DETAILED FINAL BUDGET
MEADOW PINES 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	58,810	49,910	49,910	Expenditures Less Interest, Other Revenues & Carryover/.94	
Debt Assessments	694,283	691,982	691,982	Bond Payments/.94	
Other Revenue	195	1,200	1,200	Pollution Insurance Reimbursement	
Interest Income	298	240	300	Projected At $25 Per Month	
					
TOTAL REVENUES	$	753,586	$	743,332	$	743,392		
					
EXPENDITURES					
Supervisor Fees	400	2,400	2,400	No Change From 2017/2018 Budget	
Payroll Taxes	30	200	200	Projected At 8 Percent Of Supervisor Fees	
Engineering	1,500	2,500	2,500	No Change From 2017/2018 Budget	
Management	13,104	13,368	13,644	CPI Adjustment	
Legal	7,140	9,000	9,000	No Change From 2017/2018 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,300	3,400	3,500	$100 Increase From 2017/2018 Budget	
Arbitrage Rebate Fee	600	600	600	No Change From 2017/2018 Budget	
Insurance	5,973	7,700	7,500	Insurance Estimate	
Legal Advertisements	793	1,000	1,000	No Change From 2017/2018 Budget	
Miscellaneous	174	900	900	No Change From 2017/2018 Budget	
Postage	90	275	275	No Change From 2017/2018 Budget	
Office Supplies	388	575	575	No Change From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fees	6,196	6,200	6,820	Trustee (US Bank) Increasing Fees In 2018/2019	
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	
Reserve	0	4,227	3,326	Reserve	
					
TOTAL EXPENDITURES	$	48,363	$	61,020	$	60,915		
					
REVENUES LESS EXPENDITURES	$	705,223	$	682,312	$	682,477		
					
Bond Payments	(654,463)	(650,463)	(650,463)	2019 P & I Payments Less Earned Interest	
					
BALANCE	$	50,760	$	31,849	$	32,014		
					
County Appraiser & Tax Collector Fee	(16,075)	(14,838)	(14,838)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(26,482)	(29,676)	(29,676)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	8,203	$	(12,665)	$	(12,500)		
					
Carryover From Prior Year	0	12,665	12,500	Carryover From Prior Year	

NET EXCESS / (SHORTFALL)	
$	8,203	
$	-	
$	-		

II

7/8/2018 5:28 PM

DETAILED FINAL DEBT SERVICE BUDGET
MEADOW PINES 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	
1,628	
50	
50	
Projected Interest For 2018/2019	

NAV Tax Collection	
654,463	
650,463	
650,463	
Maximum Debt Service Collection	

Total Revenues	
$	656,091	
$	650,513	
$	650,513		

EXPENDITURES					

Principal Payments (2014A-1)	
265,000	
275,000	
280,000	
Principal Payment Due In 2019	

Principal Payments (2014A-B)	
40,000	
45,000	
50,000	
Principal Payment Due In 2019	

Bond Redemption	
0	
1,079	
475	
Estimated Excess Debt Collections	

Interest Payments (2014A-1)	
263,868	
255,940	
249,275	
Interest Payments Due In 2019	

Interest Payments (2014A-B)	
77,087	
73,494	
70,763	
Interest Payments Due In 2019	

TOTAL EXPENDITURES	
$	645,955	
$	650,513	
$	650,513		

EXCESS/ (SHORTFALL)	
$	10,136	
$	-	
$	-		

Series 2014A-1 Bond Refunding Information	
Original Par Amount =	$7,125,000	Annual Principal Payments Due =	May 1st	
Interest Rate = Issue Date = Maturity Date =	1.05% - 4.625%
May 2014
May 2034	Annual Interest Payments Due =	May 1st & November 1st	
Par Amount As Of 1/1/18=	$6,335,000			

Series 2014A-2 Bond Refunding Information	
Original Par Amount =	$1,385,000	Annual Principal Payments Due =	May 1st	
Interest Rate = Issue Date = Maturity Date =	5.75% - 6.00%
May 2014
May 2034	Annual Interest Payments Due =	May 1st & November 1st	
Par Amount As Of 1/1/18=	$1,265,000			

7/8/2018 5:28 PM	III

Meadow Pines Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2015/2016	2016/2017	2017/2018	2018/2019	
Assessment	Assessment	Assessment	Projected Assessment	
 	Before Discount*	 	Before Discount*	Before Discount*	 	Before Discount*		

Administrative For Phase 1	
$	74.49	
$	74.49	
$	64.49	
$	64.49	
Debt For Phase 1	$	834.02	$	834.02	$	834.02	$	834.02	
Total For Phase 1	$	908.51	$	908.51	$	898.51	$	898.51	

Administrative For Phase 2	
$	74.49	
$	74.49	
$	64.49	
$	64.49	
Debt For Phase 2	$	964.50	$	964.50	$	964.50	$	964.50	
Total For Phase 2	$	1,038.99	$	1,038.99	$	1,028.99	$	1,028.99	

* Assessments Include the Following :

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

Community Information:	

Phase One	418	
Phase Two	356	
Total Units	774	

7/8/2018  5:28 PM	IV