Cutler Cay Community Development District

Amended Final Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET
10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
Operating Fund Revenues				
Administrative Assessments	72,786	76,529	76,529	
Maintenance Assessments	146,429	146,429	146,429	
Debt Assessments - 2014 Bond Refunding	897,657	897,658	897,658	
Other Revenues	0	0	0	
Interest Income	300	500	492	
TOTAL REVENUES	$	1,117,172	$	1,121,116	$	1,121,108	

EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	7,000	3,600	3,600	
Payroll Taxes - Employer	560	275	275	
Management	29,448	29,448	29,448	
Secretarial	4,200	4,200	4,200	
Legal	12,500	9,750	8,226	
Assessment Roll	7,500	7,500	7,500	
Audit Fees	3,200	3,200	3,200	
Arbitrage Rebate Fee	650	650	650	
Insurance	6,750	7,298	7,298	
Legal Advertisements	750	950	757	
Miscellaneous	1,300	1,200	985	
Postage	375	600	577	
Office Supplies	825	600	559	
Dues & Subscriptions	175	175	175	
Trustee Fees	3,700	3,547	3,547	
Continuing Disclosure Fee	350	350	350	
Website Management	2,000	2,000	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	81,283	$	75,343	$	73,347	
				
MAINTENANCE EXPENDITURES				
Contingency/Reserve	23,500	5,000	16	
Lakes Maintenance	8,700	7,140	7,140	
Roads Maintenance/Reserve	47,500	47,500	0	
Stormwater Drainage/Reserve	15,075	59,000	55,972	
Field Operations	3,600	3,600	3,600	
Walls & Wall Fountain Maintenance	25,000	10,000	6,771	
Sidewalk Maintenance/Repairs	10,000	13,000	11,299	
Engineering/Inspections	5,000	10,681	10,681	
TOTAL MAINTENANCE EXPENDITURES	$	138,375	$	155,921	$	95,479	

TOTAL EXPENDITURES	$	219,658	$	231,264	$	168,826	
				
REVENUES LESS EXPENDITURES	$	897,514	$	889,852	$	952,282	
				
Bond Refunding Payments	(843,798)	(858,629)	(858,629)	
				
BALANCE	$	53,716	$	31,223	$	93,653	
				
County Appraiser & Tax Collector Fee	(21,972)	(10,821)	(10,821)	
Discounts For Early Payments	(43,944)	(37,771)	(37,771)	
				
EXCESS/ (SHORTFALL)	$	(12,200)	$	(17,369)	$	45,061	
				
Carryover From Prior Year	12,200	12,200	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	(5,169)	$	45,061	

OPERATING FUND BALANCE AS OF 09/30/19	
FY 2019/2020 ACTIVITY	
OPERATING FUND BALANCE AS OF 9/30/20	

$337,567	
($17,369)	
$320,198	

Notes
Carryover From Prior Year Of $12,200 used to reduce Fiscal Year 2019/2020 Assessments. Fund Balance Includes Drainage & Roads Reserves.
Reserve Balances As Of 9/30/2020 total $122,175 - Unspent Maintenance To Be Added To Reserve.

10/2/2020 4:00 PM	I

AMENDED FINAL BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET 10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
Interest Income	150	695	689	
NAV Tax Collection	843,798	858,629	858,629	
Total Revenues	$	843,948	$	859,324	$	859,318	
				
EXPENDITURES				
Principal Payments	480,000	480,000	480,000	
Interest Payments	348,339	357,531	357,531	
Bond Redemption	15,609	0	0	
				
Total Expenditures	$	843,948	$	837,531	$	837,531	
				
Excess/ (Shortfall)	$	-	$	21,793	$	21,787	

OPERATING FUND BALANCE AS OF 09/30/19	
FY 2019/2020 ACTIVITY	
OPERATING FUND BALANCE AS OF 9/30/20	

$741,916	
$21,793	
$763,709	

Notes
Reserve Fund Balance = $421,899*. Revenue Fund Balance = $341,810*.
Revenue Fund Balance To Be Used To Make 11/1/2020 Interest Payment Of $178,765.
Per Bond Indenture - Extraordinary Principal Payments can be made commencing in November 2024.
* 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 9/30/20 =	$8,855,000		

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

10/2/2020 4:00 PM	II