Cutler Cay Community Development District

Amended Final Budget For Fiscal Year 2017/2018
October 1, 2017 - September 30, 2018

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2017/2018 OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2017/2018 BUDGET
10/1/17 - 9/30/18	AMENDED FINAL BUDGET
10/1/17 - 9/30/18	YEAR TO DATE ACTUAL
10/1/17 - 8/31/18	
Operating Fund Revenues				
Administrative Assessments	72,846	75,823	75,823	
Maintenance Assessments	146,429	146,430	146,430	
Debt Assessments - 2014 Bond Refunding	897,657	897,661	897,661	
Other Revenues	0	0	0	
Interest Income	120	785	776	
TOTAL REVENUES	$	1,117,052	$	1,120,699	$	1,120,690	

EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	7,000	4,600	4,600	
Payroll Taxes - Employer	560	352	352	
Management	28,320	28,320	25,960	
Secretarial	4,200	4,200	3,850	
Legal	13,000	10,500	8,808	
Assessment Roll	7,500	7,500	0	
Audit Fees	3,000	3,000	3,000	
Arbitrage Rebate Fee	650	650	650	
Insurance	6,955	6,323	6,323	
Legal Advertisements	700	900	656	
Miscellaneous	1,100	1,400	1,278	
Postage	400	240	221	
Office Supplies	900	750	711	
Dues & Subscriptions	175	175	175	
Trustee Fees	4,500	3,225	3,225	
Continuing Disclosure Fee	500	350	0	
Website Management	1,500	1,500	1,375	
TOTAL ADMINISTRATIVE EXPENDITURES	$	80,960	$	73,985	$	61,184	
				
MAINTENANCE EXPENDITURES				
Contingency/Reserve	23,500	55,000	52,199	
Lakes Maintenance	8,700	8,700	6,545	
Roads Maintenance/Reserve	47,500	47,500	10,516	
Stormwater Drainage/Reserve	15,075	15,075	0	
Field Operations	3,600	3,600	3,300	
Walls & Wall Fountain Maintenance	25,000	15,000	8,904	
Sidewalk Maintenance/Repairs	10,000	2,500	0	
Engineering/Inspections	5,000	4,000	2,810	
TOTAL MAINTENANCE EXPENDITURES	$	138,375	$	151,375	$	84,274	

TOTAL EXPENDITURES	$	219,335	$	225,360	$	145,458	
				
REVENUES LESS EXPENDITURES	$	897,717	$	895,339	$	975,232	
				
Bond Refunding Payments	(843,798)	(858,393)	(858,393)	
				
BALANCE	$	53,919	$	36,946	$	116,839	
				
County Appraiser & Tax Collector Fee	(21,973)	(10,811)	(10,811)	
Discounts For Early Payments	(43,946)	(38,070)	(38,070)	
			0	
EXCESS/ (SHORTFALL)	$	(12,000)	$	(11,935)	$	67,958	
				
Carryover From Prior Year	12,000	12,000	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	65	$	67,958	

OPERATING FUND BALANCE AS OF 09/30/17	
FY 2017/2018 ACTIVITY	
OPERATING FUND BALANCE AS OF 9/30/18	

$187,393	
($11,935)	
$175,458	

Notes
Carryover From Prior Year Of $12,000 used to reduce Fiscal Year 2017/2018 Assessments. Carryover From Prior Year Of $11,600 to be used to reduce Fiscal Year 2018/2019 Assessments. Estimated Reserve Fund (Roads/Stormwater) Balance As Of 9/30/2018 is $105,000.

9/28/2018 1:51 PM	I

AMENDED FINAL BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2017/2018 OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2017/2018 BUDGET 10/1/17 - 9/30/18	AMENDED FINAL BUDGET
10/1/17 - 9/30/18	YEAR TO DATE ACTUAL
10/1/17 - 8/31/18	
Interest Income	100	1,630	1,608	
NAV Tax Collection	843,798	858,393	858,393	
Total Revenues	$	843,898	$	860,023	$	860,001	
				
EXPENDITURES				
Principal Payments	445,000	445,000	445,000	
Interest Payments	383,671	392,192	392,192	
Bond Redemption	15,227	0	0	
				
Total Expenditures	$	843,898	$	837,192	$	837,192	
				
Excess/ (Shortfall)	$	-	$	22,831	$	22,809	

OPERATING FUND BALANCE AS OF 09/30/17	
FY 2017/2018 ACTIVITY	
OPERATING FUND BALANCE AS OF 9/30/18	

$693,129	
$22,831	
$715,960	

Notes
Reserve Fund Balance = $422,340*. Revenue Fund Balance = $292,553*.
Revenue Fund Balance To Be Used To Make 11/1/2017 Interest Payment Of $187,574
Per Bond Indenture - Extraordinary Principal Payments can be made commencing in November 2020.
* Approximate Amounts

Series 2014 Bond Refunding Information		
Original Par Amount =	$11,520,000	Annual Principal Payments Due:	
Interest Rate =	3.83%	May 1st	
Issue Date =	March 2014	Annual Interest Payments Due:	
Maturity Date =	May 2029	May 1st & November 1st	
Par Amount As Of 8/31/18 =	$9,795,000		

Original Amount Of Principal Payment Due On 5-1-2029: $4,410,000 Current Amount Of Principal Payment Due On 5-1-2029: $4,300,000

9/28/2018 1:51 PM	II