Keys Cove II 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
KEYS COVE II COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

	FISCAL YEAR	AMENDED	YEAR	
	2019/2020	FINAL	TO DATE	
	BUDGET	BUDGET	ACTUAL	
REVENUES	10/1/19 - 9/30/20	10/1/19 - 9/30/20	10/1/19 - 9/29/20	
ADMINISTRATIVE ASSESSMENTS	89,541	90,840	90,840	
MAINTENANCE ASSESSMENTS	636,489	636,519	636,519	
DEBT ASSESSMENTS	376,915	376,954	376,954	
OTHER REVENUES	0	7,730	7,730	
INTEREST INCOME	780	1,970	1,962	
				
TOTAL REVENUES	$	1,103,725	$	1,114,013	$	1,114,005	
				
ADMINISTRATIVE EXPENDITURES				
MANAGEMENT	32,124	32,124	32,124	
SECRETARIAL & FIELD OPERATIONS	9,000	9,000	9,000	
LEGAL	9,500	12,000	10,423	
ASSESSMENT ROLL	10,000	10,000	10,000	
AUDIT FEES	3,500	3,300	3,300	
ARBITRAGE REBATE FEE	650	650	650	
INSURANCE	6,800	5,513	5,513	
LEGAL ADVERTISING	1,000	1,100	804	
MISCELLANEOUS	1,800	1,500	1,084	
POSTAGE	500	225	218	
OFFICE SUPPLIES	850	250	246	
DUES & SUBSCRIPTIONS	175	175	175	
TRUSTEE FEES	4,650	4,634	4,634	
CONTINUING DISCLOSURE FEE	500	500	500	
WEBSITE MANAGEMENT	2,000	2,000	2,000	
ADMINISTRATIVE CONTINGENCY	1,900	500	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	84,949	$	83,471	$	80,671	
				
MAINTENANCE EXPENDITURES				
ENGINEERING/INSPECTIONS	3,000	3,800	2,875	
LAWN & LANDSCAPE MAINTENANCE	170,100	190,000	180,099	
MULCH	28,200	2,500	0	
TREE SHRUBBERY MAINTENANCE/REPLACEMENT	15,000	40,170	40,170	
PEST CONTROL/FERTILIZATION	12,000	7,500	5,385	
IRRIGATION MAINTENANCE & UPKEEP	25,200	25,000	20,082	
STREET/ROADWAY MAINTENANCE & UPKEEP	18,000	1,000	255	
SECURITY SERVICES/ENTRANCE	138,000	128,000	118,074	
GUARD HOUSE UTILITIES & GATE MAINTENANCE	52,000	42,000	37,472	
FP&L POWER - STREET LIGHTS/IRRIGATION PUMP STATIONS	66,000	47,500	44,313	
STREET LIGHT MAINTENANCE	28,800	75,000	71,759	
PAVER RESTORATION & TREE ROOT REMOVAL	15,000	13,900	13,900	
MISCELLANEOUS MAINTENANCE	15,000	35,000	29,025	
MAINTENANCE CONTINGENCY	12,000	17,000	11,968	
TOTAL MAINTENANCE EXPENDITURES	$	598,300	$	628,370	$	575,377	
				
TOTAL EXPENDITURES	$	683,249	$	711,841	$	656,048	
				
EXCESS/ (SHORTFALL)	$	420,476	$	402,172	$	457,957	
				
BOND PAYMENTS	(354,300)	(359,180)	(359,180)	
				
BALANCE	$	66,176	$	42,992	$	98,777	
				
COUNTY APPRAISER & TAX COLLECTOR FEE	(22,059)	(10,614)	(10,614)	
DISCOUNTS FOR EARLY PAYMENTS	(44,117)	(42,345)	(42,345)	
				
EXCESS/ (SHORTFALL)	$	-	$	(9,967)	$	45,818	
				
CARRYOVER FROM PRIOR YEAR	0	0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	(9,967)	$	45,818	

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

$517,623	
($9,967)	
$507,656	

AMENDED FINAL BUDGET
KEYS COVE II 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	250	2,614	2,609	
NAV Tax Collection	354,300	359,180	359,180	
Prepaid Bond Collection	0	0	0	
				
Total Revenues	$	354,550	$	361,794	$	361,789	
				
EXPENDITURES				
Principal Payments	140,000	140,000	140,000	
Interest Payments	209,550	212,713	212,713	
Extraordinary Principal Payments	5,000	25,000	25,000	
Total Expenditures	$	354,550	$	377,713	$	377,713	
				
EXCESS/ (SHORTFALL)	$	-	$	(15,919)	$	(15,924)	

FUND BALANCE AS OF 9/30/19	
FY 2018/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$397,715	
($15,919)	
$381,796	

Note*: Reserve Fund Balance = $177,244. Revenue Fund Balance = $197,879. Prepayment Fund Balance = $6,673.
Revenue Fund Balance To Be Used To Make 11/1/2020 Interest Payment Of $106,163 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 9/30/20 =	May 2036

$3,715,000	May 1st & November 1st