Keys Cove II Community Development District

Amended Final Budget For Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022

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 2021/2022 OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET
10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
ADMINISTRATIVE ASSESSMENTS	91,273	92,631	92,631	
MAINTENANCE ASSESSMENTS	634,362	634,366	634,366	
DEBT ASSESSMENTS	367,461	367,460	367,460	
OTHER REVENUES	0	0	0	
INTEREST INCOME	840	85	85	
TOTAL REVENUES	$	1,093,936	$	1,094,542	$	1,094,542	
				
ADMINISTRATIVE EXPENDITURES				
SUPERVISOR FEES	0	7,000	7,000	
PAYROLL TAXES	0	471	471	
MANAGEMENT	33,312	33,312	33,312	
SECRETARIAL & FIELD OPERATIONS	9,000	9,000	9,000	
LEGAL	9,500	14,500	12,414	
ASSESSMENT ROLL	10,000	10,000	10,000	
AUDIT FEES	3,500	3,500	3,500	
ARBITRAGE REBATE FEE	650	650	650	
INSURANCE	7,500	7,519	7,519	
LEGAL ADVERTISING	1,000	1,400	1,114	
MISCELLANEOUS	1,700	2,600	2,292	
POSTAGE	450	500	486	
OFFICE SUPPLIES	800	625	575	
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	950	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	86,637	$	99,336	$	95,642	
				
MAINTENANCE EXPENDITURES				
ENGINEERING/INSPECTIONS	3,000	3,200	2,175	
LAWN & LANDSCAPE MAINTENANCE	190,000	220,000	213,455	
MULCH	28,200	25,000	24,390	
TREE SHRUBBERY MAINTENANCE/REPLACEMENT	15,000	12,500	9,376	
PEST CONTROL/FERTILIZATION	12,000	6,500	5,900	
IRRIGATION MAINTENANCE & UPKEEP	25,200	2,000	800	
STREET/ROADWAY MAINTENANCE & UPKEEP	18,000	18,000	15,268	
SECURITY SERVICES/ENTRANCE	138,000	152,000	140,577	
GUARD HOUSE UTILITIES & GATE MAINTENANCE	30,000	38,000	37,840	
FP&L POWER - STREET LIGHTS/IRRIGATION PUMP STATIONS	60,000	35,000	30,371	
STREET LIGHT MAINTENANCE	35,000	30,000	23,221	
PAVER RESTORATION & TREE ROOT REMOVAL	10,000	5,000	0	
MISCELLANEOUS MAINTENANCE	18,000	80,000	73,283	
MAINTENANCE CONTINGENCY	13,900	13,900	10,700	
TOTAL MAINTENANCE EXPENDITURES	$	596,300	$	641,100	$	587,356	
				
TOTAL EXPENDITURES	$	682,937	$	740,436	$	682,998	
				
EXCESS/ (SHORTFALL)	$	410,999	$	354,106	$	411,544	
				
BOND PAYMENTS	(345,413)	(350,275)	(350,275)	
				
BALANCE	$	65,586	$	3,831	$	61,269	
				
COUNTY APPRAISER & TAX COLLECTOR FEE	(21,862)	(10,536)	(10,536)	
DISCOUNTS FOR EARLY PAYMENTS	(43,724)	(41,599)	(41,599)	
				
EXCESS/ (SHORTFALL)	$	-	$	(48,304)	$	9,134	
				
CARRYOVER FROM PRIOR YEAR	0	0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	(48,304)	$	9,134	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$649,426	
($48,304)	
$601,122	

AMENDED FINAL BUDGET
KEYS COVE II COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2021/2022 OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET 10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Interest Income	25	15	15	
NAV Tax Collection	345,413	350,275	350,275	
Prepaid Bond Collection	0	97,329	97,329	
Bond Proceeds	0	3,264,000	3,264,000	
Total Revenues	$	345,438	$	3,711,619	$	3,711,619	
				
EXPENDITURES				
Principal Payments (2005)	155,000	3,510,000	3,510,000	
Interest Payments (2005)	190,438	221,361	221,361	
Cost Of Bond Issuance	0	174,360	174,360	
Total Expenditures	$	345,438	$	3,905,721	$	3,905,721	
				
EXCESS/ (SHORTFALL)	$	-	$	(194,102)	$	(194,102)	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$355,567	
($194,102)	
$161,465	

Note*: Interest Account Balance = $51,014. Revenue Fund Balance = $13,122. Prepayment Fund Balance = $97,329.
Interest Account Balance To Be Used To Make 11/1/2022 Interest Payment Of $51,014.
Prepayment Account Balance To Be Used To Make 11/1/2022 Extraordinary Principal Payment Of $95,000.
* Approximate Amounts

Series 2005 Bond Information	-	Refinanced In May 2022	
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 =	May 2036	May 1st & November 1st	
Par Amount As Of 9/30/22 =	$0		

	Series 2022 Bond Refunding Information		
Original Par Amount =	$3,264,000	Annual Principal Payments Due =	
Interest Rate =	3.63%	May 1st	
Issue Date =	May 2022	Annual Interest Payments Due =	
Maturity Date =	May 2036	May 1st & November 1st	
Par Amount As Of 9/30/22 =	$3,264,000