Cutler Cay Community Development District

Amended Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

OPERATING FUND FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET
10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Operating Fund Revenues				
Administrative Assessments	86,640	89,470	89,470	
Maintenance Assessments	242,937	242,937	242,937	
Debt Assessments - 2014 Bond Refunding	897,657	897,657	897,657	
Other Revenues	0	0	0	
Interest Income	300	534	534	
TOTAL REVENUES	$	1,227,534	$	1,230,598	$	1,230,598	

EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	6,000	5,400	5,400	
Payroll Taxes - Employer	480	413	413	
Management	30,120	30,120	30,120	
Secretarial	4,200	4,200	4,200	
Legal	12,500	12,661	12,661	
Assessment Roll	7,500	7,500	7,500	
Audit Fees	3,300	3,300	3,300	
Arbitrage Rebate Fee	650	650	650	
Insurance	8,100	7,758	7,758	
Legal Advertisements	750	900	773	
Miscellaneous	1,300	1,500	1,333	
Postage	350	625	617	
Office Supplies	800	1,200	1,159	
Dues & Subscriptions	175	175	175	
Trustee Fees	3,600	3,547	3,547	
Continuing Disclosure Fee	350	350	350	
Website Management	2,000	2,000	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	82,175	$	82,299	$	81,956	
				
MAINTENANCE EXPENDITURES				
Contingency/Reserve	22,200	10,000	430	
Lakes Maintenance	10,000	10,000	7,140	
Roads Maintenance/Reserve	47,500	47,500	4,050	
Stormwater Drainage/Reserve	15,075	15,075	11,875	
Stormwater Drainage System Pipe Repairs Project	91,200	91,200	21,503	
Field Operations	3,600	3,600	3,600	
Walls & Wall Fountain Maintenance	25,000	10,000	7,228	
Sidewalk Maintenance/Repairs	10,000	10,000	6,090	
Engineering/Inspections	5,000	36,000	32,601	
TOTAL MAINTENANCE EXPENDITURES	$	229,575	$	233,375	$	94,517	

TOTAL EXPENDITURES	$	311,750	$	315,674	$	176,473	
				
REVENUES LESS EXPENDITURES	$	915,784	$	914,924	$	1,054,125	
				
Bond Refunding Payments	(843,798)	(858,260)	(858,260)	
				
BALANCE	$	71,986	$	56,664	$	195,865	
				
County Appraiser & Tax Collector Fee	(23,995)	(11,879)	(11,879)	
Discounts For Early Payments	(47,991)	(42,013)	(42,013)	
				
EXCESS/ (SHORTFALL)	$	-	$	2,772	$	141,973	
				
Carryover From Prior Year	0	0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	2,772	$	141,973	

OPERATING FUND BALANCE AS OF 09/30/20	
FY 2020/2021 ACTIVITY	
OPERATING FUND BALANCE AS OF 9/30/21	

$376,669	
$2,772	
$379,441	

Notes
Fund Balance Includes Drainage & Roads Reserves.
Reserve Balances As Of 9/30/2021 total $141,930 - Unspent Maintenance To Be Added To Reserves In October 2021.

10/25/2021 4:20 PM	I

DEBT SERVICE FUND FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET 10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Interest Income	150	25	25	
Bond Refunding Proceeds	0	8,125,000	8,125,000	
NAV Tax Collection	843,798	858,259	858,259	
Total Revenues	$	843,948	$	8,983,284	$	8,983,284	
				
EXPENDITURES				
Principal Payments (2014)	480,000	8,855,000	8,855,000	
Interest Payments (2014)	348,339	327,841	327,841	
Bond Redemption	15,609	0	0	
Redemption Premium	0	177,100	177,100	
Bond Refunding Cost Of Issuance	0	247,446	247,446	
Total Expenditures	$	843,948	$	9,607,387	$	9,607,387	
				
Excess/ (Shortfall)	$	-	$	(624,103)	$	(624,103)	

FUND BALANCE AS OF 09/30/20	
FY 2020/2021 ACTIVITY	
OPERATING FUND BALANCE AS OF 9/30/21	

$763,710	
($624,103)	
$139,607	

Notes
Interest Account Balance = $1,471*. Revenue Fund Balance = $138,136*.
Revenue Fund Balance To Be Used To Make 11/1/2021 Interest Payment Of $108,672.

* Approximate Amounts		
Series 2021 Bond Refunding Information		
Original Par Amount =	$8,125,000	Annual Principal Payments Due:	
Interest Rate =	2.14%	May 1st	
Issue Date =	March 2021	Annual Interest Payments Due:	
Maturity Date =	May 2034	May 1st & November 1st	
Par Amount As Of 9/30/21 =	$8,125,000		

10/25/2021 4:20 PM	II