Cutler Cay Community Development District

Amended Final Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET
10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 9/29/19	
Operating Fund Revenues				
Administrative Assessments	72,823	76,075	76,075	
Maintenance Assessments	146,429	146,429	146,429	
Debt Assessments - 2014 Bond Refunding	897,657	897,657	897,657	
Other Revenues	0	0	0	
Interest Income	180	800	783	
TOTAL REVENUES	$	1,117,089	$	1,120,961	$	1,120,944	

EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	7,000	2,600	2,600	
Payroll Taxes - Employer	560	199	199	
Management	28,908	28,908	28,908	
Secretarial	4,200	4,200	4,200	
Legal	13,000	9,500	7,630	
Assessment Roll	7,500	7,500	7,500	
Audit Fees	3,100	3,100	3,100	
Arbitrage Rebate Fee	650	650	650	
Insurance	6,955	5,465	5,465	
Legal Advertisements	650	650	241	
Miscellaneous	1,100	1,100	1,001	
Postage	400	225	208	
Office Supplies	850	675	600	
Dues & Subscriptions	175	175	175	
Trustee Fees	3,700	3,548	3,548	
Continuing Disclosure Fee	350	350	350	
Website Management	1,500	1,500	1,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	80,598	$	70,345	$	67,875	
				
MAINTENANCE EXPENDITURES				
Contingency/Reserve	23,500	10,000	1,500	
Lakes Maintenance	8,700	8,700	7,140	
Roads Maintenance/Reserve	47,500	47,500	9,008	
Stormwater Drainage/Reserve	15,075	15,075	250	
Field Operations	3,600	3,600	3,600	
Walls & Wall Fountain Maintenance	25,000	35,000	32,707	
Sidewalk Maintenance/Repairs	10,000	10,000	8,940	
Engineering/Inspections	5,000	8,000	6,963	
TOTAL MAINTENANCE EXPENDITURES	$	138,375	$	137,875	$	70,108	

TOTAL EXPENDITURES	$	218,973	$	208,220	$	137,983	
				
REVENUES LESS EXPENDITURES	$	898,116	$	912,741	$	982,961	
				
Bond Refunding Payments	(843,798)	(858,490)	(858,490)	
				
BALANCE	$	54,318	$	54,251	$	124,471	
				
County Appraiser & Tax Collector Fee	(21,973)	(10,813)	(10,813)	
Discounts For Early Payments	(43,945)	(37,944)	(37,944)	
			0	
EXCESS/ (SHORTFALL)	$	(11,600)	$	5,494	$	75,714	
				
Carryover From Prior Year	11,600	11,600	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	17,094	$	75,714	

OPERATING FUND BALANCE AS OF 09/30/18	
FY 2018/2019 ACTIVITY	
OPERATING FUND BALANCE AS OF 9/30/19	

$263,548	
$5,494	
$269,042	

Notes
Carryover From Prior Year Of $11,600 used to reduce Fiscal Year 2018/2019 Assessments. Carryover From Prior Year Of $12,200 to be used to reduce Fiscal Year 2019/2020 Assessments. Estimated Reserve Fund (Roads/Stormwater) Balance As Of 10/1/2019 is $120,000.

10/5/2019 12:09 PM	I

AMENDED FINAL BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET 10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 9/29/19	
Interest Income	150	2,350	2,329	
NAV Tax Collection	843,798	858,490	858,490	
Total Revenues	$	843,948	$	860,840	$	860,819	
				
EXPENDITURES				
Principal Payments	460,000	460,000	460,000	
Interest Payments	366,340	375,149	375,149	
Bond Redemption	17,608	0	0	
				
Total Expenditures	$	843,948	$	835,149	$	835,149	
				
Excess/ (Shortfall)	$	-	$	25,691	$	25,670	

OPERATING FUND BALANCE AS OF 09/30/18	
FY 2018/2019 ACTIVITY	
OPERATING FUND BALANCE AS OF 9/30/19	

$716,120	
$25,691	
$741,811	

Notes
Reserve Fund Balance = $421,899*. Revenue Fund Balance = $319,912*.
Revenue Fund Balance To Be Used To Make 11/1/2019 Interest Payment Of $178,765.
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 9/30/19 =	$9,335,000		

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

10/5/2019 12:09 PM	II