Title: VillW Final Budget 2020-2021.xlsx
Author: JWalker

Village Walk Of Bonita Springs Community Development District

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

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2015) IV        DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2018) V ASSESSMENT COMPARISON

FINAL BUDGET
VILLAGE WALK OF BONITA SPRINGS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES | FISCAL YEAR 2020/2021 BUDGET
O & M ASSESSMENTS | 100,052
DEBT ASSESSMENTS - SERIES 2015 | 397,658
DEBT ASSESSMENTS - SERIES 2018 | 600,785
OTHER REVENUES | 0
INTEREST INCOME | 360
TOTAL REVENUES | $	1,098,855
EXPENDITURES |
SUPERVISOR FEES | 4,000
PAYROLL TAXES | 320
ENGINEERING/MAINTENANCE | 37,000
MANAGEMENT | 40,404
SECRETARIAL | 4,200
LEGAL | 11,000
ASSESSMENT ROLL | 10,000
AUDIT FEES | 3,700
ARBITRAGE REBATE FEE - SERIES 2015 | 650
ARBITRAGE REBATE FEE - SERIES 2018 | 650
INSURANCE | 6,650
LEGAL ADVERTISING | 1,600
MISCELLANEOUS | 1,000
POSTAGE | 575
OFFICE SUPPLIES | 775
DUES & SUBSCRIPTIONS | 175
WEBSITE MANAGEMENT | 2,000
TRUSTEE FEES - SERIES 2015 | 4,775
TRUSTEE FEES - SERIES 2018 | 3,900
CONTINUING DISCLOSURE FEE - SERIES 2015 | 1,000
CONTINUING DISCLOSURE FEE - SERIES 2018 | 0
TOTAL EXPENDITURES | $	134,374
REVENUES LESS EXPENDITURES | $	964,481
BOND PAYMENTS - SERIES 2015 | (377,775)
BOND PAYMENTS - SERIES 2018 | (570,746)
BALANCE | $	15,960
COUNTY APPRAISER & TAX COLLECTOR ADMINISTRATIVE COSTS | (10,984)
DISCOUNTS FOR EARLY PAYMENTS | (43,940)
EXCESS/ (SHORTFALL) | $	(38,964)
CARRYOVER FROM PRIOR YEAR | 38,964
NET EXCESS/ (SHORTFALL) | $	-

Note: Projected Available Funds Balance As Of 9-30-20 is $145,000

8/9/2020 1:53 PM	^I

DETAILED FINAL BUDGET
VILLAGE WALK OF BONITA SPRINGS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES

FISCAL YEAR 2018/2019
ACTUAL

FISCAL YEAR 2019/2020
BUDGET

FISCAL YEAR 2020/2021
BUDGET

COMMENTS

O & M ASSESSMENTS | 101,254 | 100,052 | 100,052 | Expenditures Less Interest & Carryover/.95
DEBT ASSESSMENTS - SERIES 2015 | 397,680 | 397,658 | 397,658 | Bond Payments/.95
DEBT ASSESSMENTS - SERIES 2018 | 600,805 | 600,785 | 600,785 | Bond Payments/.95
OTHER REVENUES | 0 | 0 | 0 |
INTEREST INCOME | 453 | 360 | 360 | Interest Projected At $30 Per Month
TOTAL REVENUES | $	1,100,192 | $	1,098,855 | $	1,098,855 |
EXPENDITURES | | | |
SUPERVISOR FEES | 1,200 | 4,000 | 4,000 | Supervisor Fees
PAYROLL TAXES | 152 | 320 | 320 | Projected At 8% Of Supervisor Fees
ENGINEERING/MAINTENANCE | 9,173 | 37,000 | 37,000 | Includes Street Testing
MANAGEMENT | 38,772 | 39,504 | 40,404 | CPI Adjustment
SECRETARIAL | 4,200 | 4,200 | 4,200 | No Change From 2019/2020 Budget
LEGAL | 3,742 | 11,250 | 11,000 | FY 19/20 Expenditure Through Jan 2020 Was $1,756
ASSESSMENT ROLL | 10,000 | 10,000 | 10,000 | As Per Contract
AUDIT FEES | 3,500 | 3,600 | 3,700 | $100 Increase From 2019/2020 Budget
ARBITRAGE REBATE FEE - SERIES 2015 | 650 | 650 | 650 | No Change From 2019/2020 Budget
ARBITRAGE REBATE FEE - SERIES 2018 | 650 | 650 | 650 | No Change From 2019/2020 Budget
INSURANCE | 5,250 | 6,850 | 6,650 | Insurance Estimate
LEGAL ADVERTISING | 1,015 | 1,600 | 1,600 | No Change From 2019/2020 Budget
MISCELLANEOUS | 510 | 1,000 | 1,000 | No Change From 2019/2020 Budget
POSTAGE | 118 | 625 | 575 | $50 Decrease From 2019/2020 Budget
OFFICE SUPPLIES | 337 | 800 | 775 | $25 Decrease From 2019/2020 Budget
DUES & SUBSCRIPTIONS | 175 | 175 | 175 | No Change From 2019/2020 Budget
WEBSITE MANAGEMENT | 1,500 | 2,000 | 2,000 | No Change From 2019/2020 Budget
TRUSTEE FEES - SERIES 2015 | 4,327 | 4,775 | 4,775 | No Change From 2019/2020 Budget
TRUSTEE FEES - SERIES 2018 | 3,709 | 3,900 | 3,900 | No Change From 2019/2020 Budget
CONTINUING DISCLOSURE FEE - SERIES 2015 | 1,000 | 1,000 | 1,000 | No Change From 2019/2020 Budget
CONTINUING DISCLOSURE FEE - SERIES 2018 | 0 | 1,000 | 0 | Prager Is No Longer Charging For 2018 Bond
TOTAL EXPENDITURES | $	89,980 | $	134,899 | $	134,374 |
REVENUES LESS EXPENDITURES | $	1,010,212 | $	963,956 | $	964,481 |
BOND PAYMENTS - SERIES 2015 | (381,213) | (377,775) | (377,775) | 2021 P& I Payments
BOND PAYMENTS - SERIES 2018 | (575,926) | (570,746) | (570,746) | 2021 P& I Payments
BALANCE | $	53,073 | $	15,435 | $	15,960 |
COUNTY APPRAISER & TAX COLLECTOR ADMINISTRATIVE COSTS | (3,211) | (10,984) | (10,984) | One Percent Of Total Assessment Roll
DISCOUNTS FOR EARLY PAYMENTS | (41,436) | (43,940) | (43,940) | Four Percent Of Total Assessment Roll
EXCESS/ (SHORTFALL) | $	8,426 | $	(39,489) | $	(38,964) |
CARRYOVER FROM PRIOR YEAR | 0 | 39,489 | 38,964 | Carryover From Prior Year
NET EXCESS/ (SHORTFALL) | $	8,426 | $	- | $	- |

Note: Projected Available Funds Balance As Of 9-30-20 is $145,000

8/9/2020 1:53 PM	^II

DETAILED FINAL DEBT SERVICE (SERIES 2015) FUND BUDGET
VILLAGE WALK OF BONITA SPRINGS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES | FISCAL YEAR 2018/2019 ACTUAL | FISCAL YEAR 2019/2020 BUDGET | FISCAL YEAR 2020/2021 BUDGET | COMMENTS
Interest Income | 6,747 | 100 | 100 | Projected Interest For 2020/2021
NAV Collection | 381,213 | 377,775 | 377,775 | Maximum Debt Service Collection
Total Revenues | $	387,960 | $	377,875 | $	377,875 |
EXPENDITURES | | | |
Principal Payments | 210,000 | 215,000 | 225,000 | Principal Payment Due In 2021
Interest Payments | 165,944 | 157,731 | 151,044 | Interest Payments Due In 2021
Bond Redemption | 10,000 | 5,144 | 1,831 | Estimated Excess Debt Collections
Total Expenditures | $	385,944 | $	377,875 | $	377,875 |
Excess/ (Shortfall) | $	2,016 | $	- | $	- |

Series 2015 Bond Refunding Information
Original Par Amount = | $5,625,000 | Annual Principal Payments Due = | May 1st

Interest Rate =
Issue Date =

2.00% - 3.625%
January 2015

Annual Interest Payments Due =

May 1st & November 1st

Maturity Date = | May 2036 | |
Par Amount As Of 1/1/2020 = | $4,780,000 | |

8/9/2020 1:53 PM	^III

DETAILED FINAL DEBT SERVICE (SERIES 2018) FUND BUDGET
VILLAGE WALK OF BONITA SPRINGS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES | FISCAL YEAR 2018/2019 ACTUAL | FISCAL YEAR 2019/2020 BUDGET | FISCAL YEAR 2020/2021 BUDGET | COMMENTS
Interest Income | 6,317 | 100 | 100 | Projected Interest For 2020/2021
NAV Collection | 575,926 | 570,746 | 570,746 | Maximum Debt Service Collection
Total Revenues | $	582,243 | $	570,846 | $	570,846 |
EXPENDITURES | | | |
Principal Payments | 314,000 | 325,000 | 335,000 | Principal Payment Due In 2021
Interest Payments | 260,553 | 245,066 | 234,341 | Interest Payments Due In 2021
Bond Redemption | 0 | 780 | 1,505 | Estimated Excess Debt Collections
Total Expenditures | $	574,553 | $	570,846 | $	570,846 |
Excess/ (Shortfall) | $	7,690 | $	- | $	- |

Series 2018 Bond Refunding Information
Original Par Amount = | $8,382,000 | Annual Principal Payments Due = | May 1st
Interest Rate = | 3.25% - 5.15% | Annual Interest Payments Due = | May 1st & November 1st
Issue Date = | January 2018 | |

Maturity Date =

Par Amount As Of 1/1/2020 =

May 2037

$7,703,000

8/9/2020 1:53 PM	^IV

Village Walk Community Development District Assessment Comparison

| Fiscal Year | Fiscal Year | Fiscal Year | Fiscal Year
Lot | | 2017/2018 | 2018/2019 | 2019/2020 | 2020/2021
Size | | Assessment* | Assessment* | Assessment* | Projected Assessment*
Phases I & 2 | | | | |
Townhome 26' | O & M | $	60.46 | $	60.46 | $	60.46 | $	60.46
Cayman | Debt | $	494.57 | $	494.57 | $	494.57 | $	494.57
| Total | $ | 555.03 | $ | 555.03 | $ | 555.03 | $ | 555.03
Duplex 36' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Capri | Debt | $	494.57 | $	494.57 | $	494.57 | $	494.57
| Total | $ | 555.03 | $ | 555.03 | $ | 555.03 | $ | 555.03
Single Family 50' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Oakmont | Debt | $	581.92 | $	581.92 | $	581.92 | $	581.92
| Total | $ | 642.38 | $ | 642.38 | $ | 642.38 | $ | 642.38
Single Family 60' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Carlyle | Debt | $	669.25 | $	669.25 | $	669.25 | $	669.25
| Total | $ | 729.71 | $ | 729.71 | $ | 729.71 | $ | 729.71
Phases 3 & 4 | | | | | | | | |
Townhome 26' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Cayman | Debt | $	600.00 | $	541.00 | $	541.00 | $	541.00
| Total | $ | 660.46 | $ | 601.46 | $ | 601.46 | $ | 601.46
Duplex 36' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Capri | Debt | $	600.00 | $	541.00 | $	541.00 | $	541.00
| Total | $ | 660.46 | $ | 601.46 | $ | 601.46 | $ | 601.46
Single Family 40' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Garden | Debt | $	680.00 | $	611.00 | $	611.00 | $	611.00
| Total | $ | 740.46 | $ | 671.46 | $ | 671.46 | $ | 671.46
Single Family 50' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Oakmont | Debt | $	706.00 | $	636.00 | $	636.00 | $	636.00
| Total | $ | 766.46 | $ | 696.46 | $ | 696.46 | $ | 696.46
Single Family 50' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Classic | Debt | $	796.00 | $	719.00 | $	719.00 | $	719.00
| Total | $ | 856.46 | $ | 779.46 | $ | 779.46 | $ | 779.46
Single Family 60' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Carlyle | Debt | $	812.00 | $	732.00 | $	732.00 | $	732.00
| Total | $ | 872.46 | $ | 792.46 | $ | 792.46 | $ | 792.46
Single Family 65' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Estate | Debt | $	912.00 | $	821.00 | $	821.00 | $	821.00
| Total | $	972.46 | $	881.46 | $	881.46 | $	881.46

* Assessments Include the Following :	
4% Discount for Early Payments
1% County Tax Collector Costs/Property Appraiser Costs

Community Information:	

Phase I
 	No. of Units

Type

Name

Maximum Annual
 	Debt Assessment

Bond Prepayments

126 | Townhome | Cayman | $	494.57 | 1
356 | Duplex | Capri/Carrington | $	494.57 | 4
195 | SF | Oakmont | $	581.92 | 1
73 | SF | Carlyle | $	669.25 | 0
750 | | | | 6

Phase II
 	No. of Units

Type

Name

Maximum Annual
 	Debt Assessment

Bond Prepayments

Lot
 	Differential Prepayment*

112 | Townhouse | Cayman | $	541 | 0 | 0
76 | Duplex | Capri/Carrington | $	541 | 0 | 0
307 | SF | Garden | $	611 | 0 | (133)
127 | SF | Oakmont | $	636 | 0 | (10)
215 | SF | Classic | $	719 | 0 | 64
33 | SF | Carlyle | $	732 | 0 | 0
74 | SF | Estate | $	821 | 0 | 40
944 | | | | 0 | -39

* Developer made Bond Prepayment in November 2015 for 39 lot differential (143 Units replaced with 104 Units)

Phase 1	750
 	Phase 2	905	
Total Units	1655

8/9/2020 1:53 PM	^V