Keys Cove II 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
KEYS COVE II COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

	FISCAL YEAR	AMENDED	YEAR	
	2018/2019	FINAL	TO DATE	
	BUDGET	BUDGET	ACTUAL	
REVENUES	10/1/18 - 9/30/19	10/1/18 - 9/30/19	10/1/18 - 9/29/19	
ADMINISTRATIVE ASSESSMENTS	88,820	89,862	89,862	
MAINTENANCE ASSESSMENTS	637,234	637,238	637,238	
DEBT ASSESSMENTS	389,318	389,318	389,318	
OTHER REVENUES	0	25,666	25,666	
INTEREST INCOME	720	1,625	1,595	
				
TOTAL REVENUES	$	1,116,092	$	1,143,709	$	1,143,679	
				
ADMINISTRATIVE EXPENDITURES				
MANAGEMENT	31,536	31,536	31,536	
SECRETARIAL & FIELD OPERATIONS	8,400	8,400	8,400	
LEGAL	9,000	10,000	8,309	
ASSESSMENT ROLL	10,000	10,000	10,000	
AUDIT FEES	3,400	3,400	3,400	
ARBITRAGE REBATE FEE	650	650	650	
INSURANCE	7,200	5,250	5,250	
LEGAL ADVERTISING	1,000	800	368	
MISCELLANEOUS	1,800	1,400	582	
POSTAGE	500	300	282	
OFFICE SUPPLIES	900	700	504	
DUES & SUBSCRIPTIONS	175	175	175	
TRUSTEE FEES	4,650	4,634	4,634	
CONTINUING DISCLOSURE FEE	500	500	500	
WEBSITE MANAGEMENT	1,500	1,500	1,500	
ADMINISTRATIVE CONTINGENCY	3,000	500	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	84,211	$	79,745	$	76,090	
				
MAINTENANCE EXPENDITURES				
ENGINEERING/INSPECTIONS	3,000	2,085	2,085	
LAWN & LANDSCAPE MAINTENANCE	168,000	168,000	143,123	
MULCH	25,000	20,000	18,750	
TREE SHRUBBERY MAINTENANCE/REPLACEMENT	20,000	7,500	4,310	
PEST CONTROL/FERTILIZATION	12,000	14,000	12,734	
IRRIGATION MAINTENANCE & UPKEEP	30,000	20,000	15,305	
STREET/ROADWAY MAINTENANCE & UPKEEP	18,000	10,000	5,750	
SECURITY SERVICES/ENTRANCE	135,000	135,000	109,349	
GUARD HOUSE UTILITIES & GATE MAINTENANCE	55,000	30,000	17,587	
FP&L POWER - STREET LIGHTS/IRRIGATION PUMP STATIONS	66,000	52,000	43,335	
STREET LIGHT MAINTENANCE	30,000	23,000	19,511	
PAVER RESTORATION & TREE ROOT REMOVAL	15,000	10,000	7,540	
MISCELLANEOUS MAINTENANCE	12,000	17,500	14,113	
MAINTENANCE CONTINGENCY	10,000	3,750	475	
TOTAL MAINTENANCE EXPENDITURES	$	599,000	$	512,835	$	413,967	
				
TOTAL EXPENDITURES	$	683,211	$	592,580	$	490,057	
				
EXCESS/ (SHORTFALL)	$	432,881	$	551,129	$	653,622	
				
BOND PAYMENTS	(365,959)	(370,519)	(370,519)	
				
BALANCE	$	66,922	$	180,610	$	283,103	
				
COUNTY APPRAISER & TAX COLLECTOR FEE	(22,307)	(10,719)	(10,719)	
DISCOUNTS FOR EARLY PAYMENTS	(44,615)	(43,639)	(43,639)	
				
EXCESS/ (SHORTFALL)	$	-	$	126,252	$	228,745	
				
CARRYOVER FROM PRIOR YEAR	0	0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	126,252	$	228,745	

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

$307,822	
$126,252	
$434,074	

AMENDED FINAL BUDGET
KEYS COVE II 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	250	2,100	2,082	
NAV Tax Collection	365,959	370,519	370,519	
Prepaid Bond Collection	0	0	0	
				
Total Revenues	$	366,209	$	372,619	$	372,601	
				
EXPENDITURES				
Principal Payments	135,000	135,000	135,000	
Interest Payments	224,400	222,613	222,613	
Extraordinary Principal Payments	6,809	65,000	65,000	
Total Expenditures	$	366,209	$	422,613	$	422,613	
				
EXCESS/ (SHORTFALL)	$	-	$	(49,994)	$	(50,012)	

FUND BALANCE AS OF 9/30/18	
FY 2017/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$447,161	
($49,994)	
$397,167	

Note*: Reserve Fund Balance = $179,813. Revenue Fund Balance = $213,250. Prepayment Fund Balance = $4,104.
Revenue Fund Balance To Be Used To Make 11/1/2019 Interest Payment Of $106,700 And Extraordinary Principal Payment Of $25,000.
* Approximate Amounts

Series 2005 Bond Information
Original Par Amount =	$11,745,000	Annual Principal Payments Due =	
Interest Rate =	5.50%	May 1st	
Issue Date =	November 2005	Annual Interest Payments Due =	
Maturity Date =

Par Amount As Of 9/30/19 =	May 2036

$3,880,000	May 1st & November 1st