Holly Hill Road East
Community Development District

Proposed Budget
FY2022

Table of Contents

1-2	 	General Fund	

3-7	
 	General Fund Narrative	

8	
 	Series 2017 Debt Service Fund	

9-10	
 	Series 2017 Amortization	

11	
 	Series 2018 Debt Service Fund	

12-13	
 	Series 2018 Amortization	

14	
 	Series 2020 A3 Debt Service Fund	

15-16	
 	Series 2020 A3 Amortization	

17	
 	Series 2020 A4 Debt Service Fund	

18-19	
 	Series 2020 A4 Amortization	

	Amended Budget	Actual Thru	Projected Next	Total Projected	Proposed Budget	
	FY 2021	3/31/21	6 Months	9/30/21	FY 2022	

Revenues						
Assessments - Tax Roll	$	235,874	$	232,172	$	3,703	$	235,874	$	486,820	
Assessments - Direct Bill	$	62,848	$	45,197	$	17,651	$	62,848	$	-	
Assessments - Lot Closings	$	-	$	15,906	$	-	$	15,906	$	-	
Developer Contributions	$	39,888	$	-	$	-	$	-	$	-	
Inta-Governmental Revenue	$	42,384	$	-	$	47,914	$	47,914	$	57,994	
Total Revenues	$	380,994	$	293,275	$	69,267	$	362,542	$	544,815	

Expenditures						
Administrative:
Supervisor Fees	
$	12,000	
$	3,200	
$	6,000	
$	9,200	
$	12,000	
Engineering Fees	$	10,000	$	-	$	5,000	$	5,000	$	10,000	
Legal Services	$	30,000	$	6,103	$	17,500	$	23,603	$	35,000	
Arbitrage	$	1,800	$	-	$	1,800	$	1,800	$	1,800	
Dissemination	$	6,500	$	6,500	$	-	$	6,500	$	6,500	
Assessment Administration	$	20,000	$	20,000	$	-	$	20,000	$	5,000	
Reamortization Schedules	$	750	$	-	$	-	$	-	$	-	
Annual Audit	$	7,000	$	-	$	4,000	$	4,000	$	4,000	
Trustee Fees	$	14,870	$	9,051	$	5,819	$	14,870	$	14,870	
Management Fees	$	35,000	$	17,500	$	17,500	$	35,000	$	36,050	
Information Technology	$	1,620	$	1,650	$	810	$	2,460	$	1,800	
Website Maintenance	$	1,080	$	-	$	540	$	540	$	1,200	
Telephone	$	200	$	-	$	100	$	100	$	200	
Postage & Delivery	$	500	$	120	$	250	$	370	$	500	
Printing & Binding	$	1,700	$	14	$	850	$	864	$	1,700	
Office Supplies	$	200	$	19	$	-	$	19	$	200	
Insurance	$	5,800	$	5,381	$	-	$	5,381	$	6,000	
Legal Advertising	$	5,000	$	1,487	$	3,513	$	5,000	$	5,000	
Property Taxes	$	75	$	-	$	-	$	-	$	-	
Contingency	$	3,500	$	2,271	$	900	$	3,171	$	3,500	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	157,770	$	73,470	$	64,582	$	138,052	$	145,495	

Operations & Maintenance						
Field Expenses
Field Management	
$	15,000	
$	7,500	
$	7,500	
$	15,000	
$	15,000	
Electric	$	1,200	$	1,002	$	1,200	$	2,202	$	2,400	
Streetlighting	$	14,400	$	6,465	$	10,200	$	16,665	$	40,800	
Water & Sewer	$	500	$	-	$	-	$	-	$	-	
Property Insurance	$	3,200	$	3,119	$	-	$	3,119	$	6,000	
Landscape Maintenance	$	50,300	$	19,250	$	18,150	$	37,400	$	125,000	
Landscape Replacement & Enhancements	$	8,000	$	-	$	4,000	$	4,000	$	20,000	
Irrigation Repairs	$	5,000	$	757	$	2,500	$	3,257	$	5,000	
Storm Damage	$	3,000	$	-	$	-	$	-	$	-	
General Repairs & Maintenance	$	-	$	-	$	7,500	$	7,500	$	15,000	
Contingency	$	5,000	$	1,350	$	3,650	$	5,000	$	5,000	
Subtotal Field Expenses	$	105,600	$	39,444	$	54,700	$	94,144	$	234,200	

	Amended Budget	Actual Thru	Projected Next	Total Projected	Proposed Budget	
	FY 2021	3/31/21	6 Months	9/30/21	FY 2022	

Amenity Expenses						
Property Insurance	$	7,700	$	7,637	$	-	$	7,637	$	8,500	
Amenity Landscaping	$	18,000	$	6,000	$	6,000	$	12,000	$	20,000	
Amenity Landscape Replacement	$	5,000	$	1,510	$	3,490	$	5,000	$	7,500	
Electric	$	20,000	$	7,021	$	7,800	$	14,821	$	15,600	
Water	$	620	$	187	$	300	$	487	$	680	
Internet	$	1,700	$	1,024	$	960	$	1,984	$	2,100	
Equipment Repairs & Maintenance	$	-	$	331	$	-	$	331	$	-	
Janitorial Services	$	11,400	$	4,674	$	2,700	$	7,374	$	5,400	
Pest Control	$	578	$	273	$	270	$	543	$	540	
Amenity Access Management	$	-	$	-	$	2,500	$	2,500	$	5,000	
Amenity Repairs & Maintenance	$	2,500	$	3,973	$	3,500	$	7,473	$	15,000	
Pool Maintenance	$	16,200	$	6,750	$	9,450	$	16,200	$	16,200	
Playground Lease	$	33,427	$	21,105	$	25,800	$	46,905	$	51,600	
Contingency	$	-	$	260	$	1,750	$	2,010	$	3,500	
Subtotal Amenity Expenses	$	117,125	$	60,745	$	64,520	$	125,265	$	151,620	
						
Total Operations & Maintenance	$	222,725	$	100,189	$	119,220	$	219,409	$	385,820	

Other Expenses						
Transfer Out - Capital Reserve	$	500	$	-	$	-	$	-	$	13,500	
Total Other Expenses	$	500	$	-	$	-	$	-	$	13,500	
						
Total Expenditures	$	380,994	$	173,659	$	183,802	$	357,461	$	544,815	
						
Excess Revenues/(Expenditures)	$	-	$	119,616	$	(114,535)	$	5,081	$	-	

Product Type	Assessable Units	ERU/Unit	Total ERUs	Net Assessment	Net Per Unit	Gross Per Unit	
Phase 1	204	1.00	204	$158,139.06	$775.19	$833.54	
Phase 2	100	1.00	100	$77,519.15	$775.19	$833.54	
Phase 3	182	1.00	182	$141,084.85	$775.19	$833.54	
Phase 4	142	1.00	142	$110,077.19	$775.19	$833.54	
	628		628	$486,820.24			

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for operating expenditures during the fiscal year.

Intra-Governmental Revenue

The District has entered into an Interlocal Agreement with North Boulevard CDD for the use of its amenities. North Boulevard CDD funds a portion of the Districts amenity expenses are part of the agreement set in place.

Expenditures:

General & Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed
$4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

Engineering

The District's engineer provides general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Legal Services

The District's legal counsel, Hopping, Green & Sams, provides general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its Series 2017, Series 2018, Series 2020A3 and Series 2020A4 bonds.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon the Series 2017, Series 2018, Series 2020A3 and Series 2020A4 bonds.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. The District is currently contracted with McDirmit Davis for these services.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Telephone

Telephone and fax machine.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes, etc.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Insurance

The District’s general liability and public official’s liability insurance coverages.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

Contingency

Bank charges and any other miscellaneous expenses incurred during the year.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for
$175. This is the only expense under this category for the District.

Operations & Maintenance:

Field Expenses

Field Management

The District is contracted with Governmental Management Services-Central Florida, LLC for onsite field management of contracts for the District such as landscape and lake maintenance. Services include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Streetlighting

Represents the cost to maintain street lights currently in place within the District Boundaries.

Water & Sewer

Represents estimated costs for water and refuse services provided for common areas throughout the District.

Property Insurance

The District’s property insurance coverages for common area elements.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District. Services include mowing, edging, trimming, pruning, weeding, irrigation inspections, fertilization and pest control applications. The District has contracted with Yellowstone Landscape, Inc. to provide these services.

Landscape Replacements & Enhancements

Represents the estimated cost of replacing landscaping within the common areas of the District.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas. These can include pressure washing, and repairs to fences, monuments, lighting and other assets.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Amenity Expenses

Property Insurance

The District’s property insurance coverages for the amenity facility.

Amenity Landscaping

Represents landscape maintenance services at the Districts amenity facility. Services include mowing, edging, trimming, pruning, weeding, irrigation inspections, fertilization and pest control applications. The District has contracted with Yellowstone Landscape, Inc. to provide these services.

Amenity Landscape Replacement

Represents the estimated cost of replacing landscaping surrounding the amenity facility.

Amenity - Electric

Represents estimated electric charges for the District’s amenity facility.

Amenity – Water

Represents estimated water charges for the District’s amenity facility.

Internet

Represents internet services in place at the amenity facility. This service is provided by Spectrum Business.

Janitorial Services

Represents the costs to provide janitorial services for the District’s amenity facilities. These services are provided by Clean Star Services of Central Florida, LLC.

Pest Control

The District is contracted with Orkin for pest control treatments to its amenity facility.

Amenity Access Management

Represents the cost of managing and monitoring access to the District’s amenity facilities.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities and equipment.

Pool Service Contract

Resort Pool Services has been contracted to provide regular cleaning and treatments of the District’s pool.

Description	Monthly	Annually	
Pool Maintenance	$1,350
Total	$16,200	
	$16,200	

Playground Lease

The District has entered into a leasing agreement with Navitas, Inc. for playgrounds installed in the community.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.

Other Expenses:

Transfer Out – Capital Reserves

Funds collected and reserved for the replacement of and/or purchase of new capital improvements throughout the District.

Proposed Budget
Series 2017 Debt Service Fund

	Adopted Budget	Actuals Thru	Projected Next	Total Projected	Proposed Budget	
	FY 2021	3/31/21	6 Months	9/30/21	FY 2022	

Revenues						
Assessments	$	315,049	$	225,976	$	3,603	$	229,578	$	227,553	
Interest	$	-	$	5	$	-	$	5	$	-	
Carry Forward Surplus	$	-	$	119,078	$	-	$	119,078	$	116,657	
Total Revenues	$	315,049	$	345,059	$	3,603	$	348,662	$	344,210	

Expenditures						
Special Call - 11/1	$	-	$	5,000	$	-	$	5,000	$	-	
Interest - 11/1	$	84,054	$	81,054	$	-	$	81,054	$	79,814	
Interest - 5/1	$	84,054	$	-	$	80,951	$	80,951	$	79,814	
Principal - 5/1	$	65,000	$	-	$	65,000	$	65,000	$	65,000	
Total Expenditures	$	233,108	$	86,054	$	145,951	$	232,005	$	224,628	
						
Excess Revenues/(Expenditures)	$	81,941	$	259,005	$	(142,348)	$	116,657	$	119,583	

Interest - 11/1/22	$78,676

Date	Balance	Prinicpal	Interest	Total

$	80,951.25		
$	79,813.75	$	225,765.00	
$	79,813.75		
$	78,676.25	$	223,490.00	
$	78,676.25		
$	77,451.25	$	226,127.50	
$	77,451.25		
$	76,016.25	$	223,467.50	
$	76,016.25		
$	74,478.75	$	225,495.00	
$	74,478.75		
$	72,838.75	$	227,317.50	
$	72,838.75		
$	71,198.75	$	224,037.50	
$	71,198.75		
$	69,456.25	$	225,655.00	
$	69,456.25		
$	67,375.00	$	226,831.25	
$	67,375.00		
$	65,178.13	$	227,553.13	
$	65,178.13		
$	62,981.25	$	223,159.38	
$	62,981.25		
$	60,668.75	$	223,650.00	
$	60,668.75		
$	58,240.63	$	223,909.38	
$	58,240.63		
$	55,696.88	$	223,937.50	
$	55,696.88		
$	53,037.50	$	223,734.38	
$	53,037.50		
$	50,262.50	$	223,300.00	
$	50,262.50		
$	47,371.88	$	222,634.38	
$	47,371.88		
$	44,250.00	$	226,621.88	
$	44,250.00		
$	40,750.00	$	225,000.00	
$	40,750.00		
$	37,125.00	$	222,875.00	
$	37,125.00		
$	33,250.00	$	225,375.00	
$	33,250.00		
$	29,250.00	$	222,500.00	
$	29,250.00		
$	25,000.00	$	224,250.00	
$	25,000.00		
$	20,500.00	$	225,500.00	
$	20,500.00		

05/01/21	$
11/01/21	$
05/01/22	$
11/01/22	$
05/01/23	$
11/01/23	$
05/01/24	$
11/01/24	$
05/01/25	$
11/01/25	$
05/01/26	$
11/01/26	$
05/01/27	$
11/01/27	$
05/01/28	$
11/01/28	$
05/01/29	$
11/01/29	$
05/01/30	$
11/01/30	$
05/01/31	$
11/01/31	$
05/01/32	$
11/01/32	$
05/01/33	$
11/01/33	$
05/01/34	$
11/01/34	$
05/01/35	$
11/01/35	$
05/01/36	$
11/01/36	$
05/01/37	$
11/01/37	$
05/01/38	$
11/01/38	$
05/01/39	$
11/01/39	$
05/01/40	$
11/01/40	$
05/01/41	$
11/01/41	$
05/01/42	$
11/01/42	$
05/01/43	$
11/01/43	$
05/01/44	$
11/01/44	$
05/01/45	$

3,450,000.00	$
3,385,000.00	$
3,385,000.00	$
3,320,000.00	$
3,320,000.00	$
3,250,000.00	$
3,250,000.00	$
3,180,000.00	$
3,180,000.00	$
3,105,000.00	$
3,105,000.00	$
3,025,000.00	$
3,025,000.00	$
2,945,000.00	$
2,945,000.00	$
2,860,000.00	$
2,860,000.00	$
2,770,000.00	$
2,770,000.00	$
2,675,000.00	$
2,675,000.00	$
2,580,000.00	$
2,580,000.00	$
2,480,000.00	$
2,480,000.00	$
2,375,000.00	$
2,375,000.00	$
2,265,000.00	$
2,265,000.00	$
2,150,000.00	$
2,150,000.00	$
2,030,000.00	$
2,030,000.00	$
1,905,000.00	$
1,905,000.00	$
1,770,000.00	$
1,770,000.00	$
1,630,000.00	$
1,630,000.00	$
1,485,000.00	$
1,485,000.00	$
1,330,000.00	$
1,330,000.00	$
1,170,000.00	$
1,170,000.00	$
1,000,000.00	$
1,000,000.00	$
820,000.00	$
820,000.00	$

65,000.00
- 65,000.00
- 70,000.00
- 70,000.00
- 75,000.00
- 80,000.00
- 80,000.00
- 85,000.00
- 90,000.00
- 95,000.00
- 95,000.00
- 100,000.00
- 105,000.00
- 110,000.00
- 115,000.00
- 120,000.00
- 125,000.00
- 135,000.00
- 140,000.00
- 145,000.00
- 155,000.00
- 160,000.00
- 170,000.00
- 180,000.00
- 190,000.00

Date	Balance	Prinicpal	Interest	Total	

11/01/45	
$	630,000.00	
$	-	$	15,750.00	
$	226,250.00	
05/01/46	$	630,000.00	$	200,000.00	$	15,750.00		
11/01/46	$	430,000.00	$	-	$	10,750.00	$	226,500.00	
05/01/47	$	430,000.00	$	210,000.00	$	10,750.00		
11/01/47	$	220,000.00	$	-	$	5,500.00	$	226,250.00	
05/01/48	$	220,000.00	$	220,000.00	$	5,500.00	$	225,500.00	
		$	3,450,000.00	$	2,846,686.25	$	6,296,686.25	

Proposed Budget
Series 2018 Debt Service Fund

	Adopted Budget	Actuals Thru	Projected Next	Total Projected	Proposed Budget	
	FY 2021	3/31/21	6 Months	9/30/21	FY 2022	

Revenues						
Assessments	$	167,344	$	121,924	$	1,944	$	123,868	$	124,450	
Assessments - Lot Closings	$	-	$	-	$	-	$	-	$	-	
Interest	$	-	$	3	$	-	$	3	$	-	
Carry Forward Surplus	$	-	$	80,743	$	-	$	80,743	$	77,757	
Total Revenues	$	167,344	$	202,670	$	1,944	$	204,613	$	202,207	

Expenditures						
Special Call - 11/1	$	-	$	5,000	$	-	$	5,000	$	-	
Interest - 11/1	$	45,994	$	45,994	$	-	$	45,994	$	45,225	
Interest - 5/1	$	45,994	$	-	$	45,863	$	45,863	$	45,225	
Principal - 5/1	$	30,000	$	-	$	30,000	$	30,000	$	30,000	
Total Expenditures	$	121,988	$	50,994	$	75,863	$	126,856	$	120,450	
						
Excess Revenues/(Expenditures)	$	45,356	$	151,676	$	(73,919)	$	77,757	$	81,757	

Interest - 11/1/22	$44,588

Date	Balance	Prinicpal	Interest	Total

$	45,862.50		
$	45,225.00	$	121,087.50	
$	45,225.00		
$	44,587.50	$	119,812.50	
$	44,587.50		
$	43,843.75	$	123,431.25	
$	43,843.75		
$	43,100.00	$	121,943.75	
$	43,100.00		
$	42,225.00	$	120,325.00	
$	42,225.00		
$	41,225.00	$	123,450.00	
$	41,225.00		
$	40,225.00	$	121,450.00	
$	40,225.00		
$	39,100.00	$	124,325.00	
$	39,100.00		
$	37,975.00	$	122,075.00	
$	37,975.00		
$	36,850.00	$	119,825.00	
$	36,850.00		
$	35,600.00	$	122,450.00	
$	35,600.00		
$	34,350.00	$	119,950.00	
$	34,350.00		
$	32,975.00	$	122,325.00	
$	32,975.00		
$	31,475.00	$	124,450.00	
$	31,475.00		
$	29,975.00	$	121,450.00	
$	29,975.00		
$	28,350.00	$	123,325.00	
$	28,350.00		
$	26,643.75	$	119,993.75	
$	26,643.75		
$	24,806.25	$	121,450.00	
$	24,806.25		
$	22,837.50	$	122,643.75	
$	22,837.50		
$	20,737.50	$	123,575.00	
$	20,737.50		
$	18,506.25	$	124,243.75	
$	18,506.25		
$	16,275.00	$	119,781.25	
$	16,275.00		
$	13,912.50	$	120,187.50	
$	13,912.50		
$	11,418.75	$	120,331.25	
$	11,418.75		

05/01/21	$
11/01/21	$
05/01/22	$
11/01/22	$
05/01/23	$
11/01/23	$
05/01/24	$
11/01/24	$
05/01/25	$
11/01/25	$
05/01/26	$
11/01/26	$
05/01/27	$
11/01/27	$
05/01/28	$
11/01/28	$
05/01/29	$
11/01/29	$
05/01/30	$
11/01/30	$
05/01/31	$
11/01/31	$
05/01/32	$
11/01/32	$
05/01/33	$
11/01/33	$
05/01/34	$
11/01/34	$
05/01/35	$
11/01/35	$
05/01/36	$
11/01/36	$
05/01/37	$
11/01/37	$
05/01/38	$
11/01/38	$
05/01/39	$
11/01/39	$
05/01/40	$
11/01/40	$
05/01/41	$
11/01/41	$
05/01/42	$
11/01/42	$
05/01/43	$
11/01/43	$
05/01/44	$
11/01/44	$
05/01/45	$

1,800,000.00	$
1,770,000.00	$
1,770,000.00	$
1,740,000.00	$
1,740,000.00	$
1,705,000.00	$
1,705,000.00	$
1,670,000.00	$
1,670,000.00	$
1,635,000.00	$
1,635,000.00	$
1,595,000.00	$
1,595,000.00	$
1,555,000.00	$
1,555,000.00	$
1,510,000.00	$
1,510,000.00	$
1,465,000.00	$
1,465,000.00	$
1,420,000.00	$
1,420,000.00	$
1,370,000.00	$
1,370,000.00	$
1,320,000.00	$
1,320,000.00	$
1,265,000.00	$
1,265,000.00	$
1,205,000.00	$
1,205,000.00	$
1,145,000.00	$
1,145,000.00	$
1,080,000.00	$
1,080,000.00	$
1,015,000.00	$
1,015,000.00	$
945,000.00	$
945,000.00	$
870,000.00	$
870,000.00	$
790,000.00	$
790,000.00	$
705,000.00	$
705,000.00	$
620,000.00	$
620,000.00	$
530,000.00	$
530,000.00	$
435,000.00	$
435,000.00	$

30,000.00
- 30,000.00
- 35,000.00
- 35,000.00
- 35,000.00
- 40,000.00
- 40,000.00
- 45,000.00
- 45,000.00
- 45,000.00
- 50,000.00
- 50,000.00
- 55,000.00
- 60,000.00
- 60,000.00
- 65,000.00
- 65,000.00
- 70,000.00
- 75,000.00
- 80,000.00
- 85,000.00
- 85,000.00
- 90,000.00
- 95,000.00
- 100,000.00

Date	Balance	Prinicpal	Interest	Total	

11/01/45	
$	335,000.00	
$	-	$	8,793.75	
$	120,212.50	
05/01/46	$	335,000.00	$	105,000.00	$	8,793.75		
11/01/46	$	230,000.00	$	-	$	6,037.50	$	119,831.25	
05/01/47	$	230,000.00	$	110,000.00	$	6,037.50		
11/01/47	$	120,000.00	$	-	$	3,150.00	$	119,187.50	
05/01/48	$	120,000.00	$	120,000.00	$	3,150.00	$	123,150.00	
		$	1,800,000.00	$	1,606,262.50	$	3,406,262.50	

Proposed Budget
Series 2020 A3 Debt Service Fund

	Proposed Budget	Actuals Thru	Projected Next	Total Projected	Proposed Budget	
	FY 2021	3/31/21	6 Months	9/30/21	FY 2022	

Revenues						
Assessments	$	-	$	-	$	-	$	-	$	238,250	
Assessments - Lot Closings	$	238,365	$	238,365	$	-	$	238,365	$	-	
Interest	$	-	$	8	$	-	$	8	$	-	
Carry Forward Surplus	$	182,204	$	182,204	$	-	$	182,204	$	149,677	
Total Revenues	$	420,569	$	420,578	$	-	$	420,578	$	387,927	

Expenditures						
Interest - 11/1	$	63,076	$	63,076		$	63,076	$	88,700	
Principal - 11/1	$	-	$	-	$	-	$	-	$	60,000	
Interest - 5/1	$	-	$	-	$	88,700	$	88,700	$	87,500	
Total Expenditures	$	63,076	$	63,076	$	88,700	$	151,776	$	236,200	

Other Financing Sources/(Uses)						
Transfer In/(Out)	$	(119,125)	$	(119,125)	$	-	$	(119,125)	$	-	
Total Other Financing Sources/(Uses)	$	(119,125)	$	(119,125)	$	-	$	(119,125)	$	-	
						
Excess Revenues/(Expenditures)	$	238,369	$	238,377	$	(88,700)	$	149,677	$	151,727	

Interest - 11/1/22	
$87,500	
Principal - 11/1/22	$60,000	
Total	$147,500	

Date	Balance	Prinicpal	Interest	Total

$	88,700.00		
$	88,700.00	$	237,400.00	
$	87,500.00		
$	87,500.00	$	235,000.00	
$	86,300.00		
$	86,300.00	$	237,600.00	
$	85,000.00		
$	85,000.00	$	235,000.00	
$	83,700.00		
$	83,700.00	$	237,400.00	
$	82,300.00		
$	82,300.00	$	234,600.00	
$	80,725.00		
$	80,725.00	$	236,450.00	
$	79,037.50		
$	79,037.50	$	238,075.00	
$	77,237.50		
$	77,237.50	$	234,475.00	
$	75,437.50		
$	75,437.50	$	235,875.00	
$	73,525.00		
$	71,500.00	$	235,025.00	
$	71,500.00		
$	71,500.00	$	238,000.00	
$	69,125.00		
$	69,125.00	$	238,250.00	
$	66,625.00		
$	66,625.00	$	238,250.00	
$	64,000.00		
$	64,000.00	$	238,000.00	
$	61,250.00		
$	61,250.00	$	237,500.00	
$	58,375.00		
$	58,375.00	$	236,750.00	
$	55,375.00		
$	55,375.00	$	235,750.00	
$	52,250.00		
$	52,250.00	$	234,500.00	
$	49,000.00		
$	49,000.00	$	238,000.00	
$	45,500.00		
$	45,500.00	$	236,000.00	
$	41,875.00		
$	41,875.00	$	233,750.00	
$	38,125.00		
$	38,125.00	$	236,250.00	
$	34,125.00		
$	34,125.00	$	233,250.00	
$	30,000.00		

05/01/21	$
11/01/21	$
05/01/22	$
11/01/22	$
05/01/23	$
11/01/23	$
05/01/24	$
11/01/24	$
05/01/25	$
11/01/25	$
05/01/26	$
11/01/26	$
05/01/27	$
11/01/27	$
05/01/28	$
11/01/28	$
05/01/29	$
11/01/29	$
05/01/30	$
11/01/30	$
05/01/31	$
11/01/31	$
05/01/32	$
11/01/32	$
05/01/33	$
11/01/33	$
05/01/34	$
11/01/34	$
05/01/35	$
11/01/35	$
05/01/36	$
11/01/36	$
05/01/37	$
11/01/37	$
05/01/38	$
11/01/38	$
05/01/39	$
11/01/39	$
05/01/40	$
11/01/40	$
05/01/41	$
11/01/41	$
05/01/42	$
11/01/42	$
05/01/43	$
11/01/43	$
05/01/44	$
11/01/44	$
05/01/45	$

3,660,000.00	$
3,660,000.00	$
3,600,000.00	$
3,600,000.00	$
3,540,000.00	$
3,540,000.00	$
3,475,000.00	$
3,475,000.00	$
3,410,000.00	$
3,340,000.00	$
3,340,000.00	$
3,340,000.00	$
3,270,000.00	$
3,270,000.00	$
3,195,000.00	$
3,195,000.00	$
3,115,000.00	$
3,115,000.00	$
3,035,000.00	$
3,035,000.00	$
2,950,000.00	$
2,860,000.00	$
2,860,000.00	$
2,860,000.00	$
2,765,000.00	$
2,765,000.00	$
2,665,000.00	$
2,665,000.00	$
2,560,000.00	$
2,560,000.00	$
2,450,000.00	$
2,450,000.00	$
2,335,000.00	$
2,335,000.00	$
2,215,000.00	$
2,215,000.00	$
2,090,000.00	$
2,090,000.00	$
1,960,000.00	$
1,960,000.00	$
1,820,000.00	$
1,820,000.00	$
1,675,000.00	$
1,675,000.00	$
1,525,000.00	$
1,525,000.00	$
1,365,000.00	$
1,365,000.00	$
1,200,000.00	$

- 60,000.00
- 60,000.00
- 65,000.00
- 65,000.00
- 70,000.00
- 70,000.00
- 75,000.00
- 80,000.00
- 80,000.00
- 85,000.00
- 90,000.00
- 95,000.00
- 100,000.00
- 105,000.00
- 110,000.00
- 115,000.00
- 120,000.00
- 125,000.00
- 130,000.00
- 140,000.00
- 145,000.00
- 150,000.00
- 160,000.00
- 165,000.00
-

Date	Balance	Prinicpal	Interest	Total	

11/01/45	
$	1,200,000.00	
$	175,000.00	$	30,000.00	
$	235,000.00	
05/01/46	$	1,025,000.00	$	-	$	25,625.00		
11/01/46	$	1,025,000.00	$	185,000.00	$	25,625.00	$	236,250.00	
05/01/47	$	840,000.00	$	-	$	21,000.00		
11/01/47	$	840,000.00	$	195,000.00	$	21,000.00	$	237,000.00	
05/01/48	$	645,000.00	$	-	$	16,125.00		
11/01/48	$	645,000.00	$	205,000.00	$	16,125.00	$	237,250.00	
05/01/49	$	440,000.00	$	-	$	11,000.00		
11/01/49	$	440,000.00	$	215,000.00	$	11,000.00	$	237,000.00	
05/01/50	$	225,000.00	$	-	$	5,625.00		
11/01/50	$	225,000.00	$	225,000.00	$	5,625.00	$	236,250.00	
		$	3,660,000.00	$	3,429,900.00	$	7,089,900.00	

Proposed Budget
Series 2020 A4 Debt Service Fund

	Proposed Budget	Actuals Thru	Projected Next	Total Projected	Proposed Budget	
	FY 2021	3/31/21	6 Months	9/30/21	FY 2022	

Revenues						
Assessments	$	-	$	-	$	-	$	-	$	191,400	
Assessments - Lot Closings	$	64,050	$	64,050	$	-	$	64,050	$	-	
Interest	$	-	$	8	$	-	$	8	$	-	
Carry Forward Surplus	$	87,535	$	87,535	$	-	$	87,535	$	64,058	
Total Revenues	$	151,585	$	151,593	$	-	$	151,593	$	255,458	

Expenditures						
Interest - 11/1	$	23,485	$	23,485	$	-	$	23,485	$	64,050	
Interest - 5/1	$	-	$	-	$	64,050	$	64,050	$	64,050	
Principal - 5/1	$	-	$	-	$	-	$	-	$	60,000	
Total Expenditures	$	23,485	$	23,485	$	64,050	$	87,535	$	188,100	

Other Financing Sources/(Uses)						
Transfer In/(Out)	$	-	$	0	$	-	$	0	$	-	
Total Other Financing Sources/(Uses)	$	-	$	0	$	-	$	0	$	-	
						
Excess Revenues/(Expenditures)	$	128,100	$	128,108	$	(64,050)	$	64,058	$	67,358	

Interest - 11/1/22	$63,150

Date	Balance	Prinicpal	Interest	Total

$	64,050.00		
$	64,050.00	$	128,100.00	
$	64,050.00		
$	63,150.00	$	187,200.00	
$	63,150.00		
$	62,175.00	$	190,325.00	
$	62,175.00		
$	61,200.00	$	188,375.00	
$	61,200.00		
$	60,150.00	$	191,350.00	
$	60,150.00		
$	58,925.00	$	189,075.00	
$	58,925.00		
$	57,700.00	$	186,625.00	
$	57,700.00		
$	56,387.50	$	189,087.50	
$	56,387.50		
$	54,987.50	$	191,375.00	
$	54,987.50		
$	53,587.50	$	188,575.00	
$	53,587.50		
$	52,100.00	$	190,687.50	
$	52,100.00		
$	50,400.00	$	187,500.00	
$	50,400.00		
$	48,600.00	$	189,000.00	
$	48,600.00		
$	46,700.00	$	190,300.00	
$	46,700.00		
$	44,700.00	$	191,400.00	
$	44,700.00		
$	42,700.00	$	187,400.00	
$	42,700.00		
$	40,600.00	$	188,300.00	
$	40,600.00		
$	38,400.00	$	189,000.00	
$	38,400.00		
$	36,100.00	$	189,500.00	
$	36,100.00		
$	33,700.00	$	189,800.00	
$	33,700.00		
$	31,200.00	$	189,900.00	
$	31,200.00		
$	28,600.00	$	189,800.00	
$	28,600.00		
$	25,900.00	$	189,500.00	
$	25,900.00		
$	23,100.00	$	189,000.00	
$	23,100.00		

05/01/21	$
11/01/21	$
05/01/22	$
11/01/22	$
05/01/23	$
11/01/23	$
05/01/24	$
11/01/24	$
05/01/25	$
11/01/25	$
05/01/26	$
11/01/26	$
05/01/27	$
11/01/27	$
05/01/28	$
11/01/28	$
05/01/29	$
11/01/29	$
05/01/30	$
11/01/30	$
05/01/31	$
11/01/31	$
05/01/32	$
11/01/32	$
05/01/33	$
11/01/33	$
05/01/34	$
11/01/34	$
05/01/35	$
11/01/35	$
05/01/36	$
11/01/36	$
05/01/37	$
11/01/37	$
05/01/38	$
11/01/38	$
05/01/39	$
11/01/39	$
05/01/40	$
11/01/40	$
05/01/41	$
11/01/41	$
05/01/42	$
11/01/42	$
05/01/43	$
11/01/43	$
05/01/44	$
11/01/44	$
05/01/45	$

3,325,000.00	$
3,325,000.00	$
3,325,000.00	$
3,265,000.00	$
3,265,000.00	$
3,200,000.00	$
3,200,000.00	$
3,135,000.00	$
3,135,000.00	$
3,065,000.00	$
3,065,000.00	$
2,995,000.00	$
2,995,000.00	$
2,925,000.00	$
2,925,000.00	$
2,850,000.00	$
2,850,000.00	$
2,770,000.00	$
2,770,000.00	$
2,690,000.00	$
2,690,000.00	$
2,605,000.00	$
2,605,000.00	$
2,520,000.00	$
2,520,000.00	$
2,430,000.00	$
2,430,000.00	$
2,335,000.00	$
2,335,000.00	$
2,235,000.00	$
2,235,000.00	$
2,135,000.00	$
2,135,000.00	$
2,030,000.00	$
2,030,000.00	$
1,920,000.00	$
1,920,000.00	$
1,805,000.00	$
1,805,000.00	$
1,685,000.00	$
1,685,000.00	$
1,560,000.00	$
1,560,000.00	$
1,430,000.00	$
1,430,000.00	$
1,295,000.00	$
1,295,000.00	$
1,155,000.00	$
1,155,000.00	$

-
- 60,000.00
- 65,000.00
- 65,000.00
- 70,000.00
- 70,000.00
- 70,000.00
- 75,000.00
- 80,000.00
- 80,000.00
- 85,000.00
- 85,000.00
- 90,000.00
- 95,000.00
- 100,000.00
- 100,000.00
- 105,000.00
- 110,000.00
- 115,000.00
- 120,000.00
- 125,000.00
- 130,000.00
- 135,000.00
- 140,000.00
- 145,000.00

Date	Balance	Prinicpal	Interest	Total

11/01/45	$	1,010,000.00	$	-	$	20,200.00	$	188,300.00	
05/01/46	$	1,010,000.00	$	150,000.00	$	20,200.00		
11/01/46	$	860,000.00	$	-	$	17,200.00	$	187,400.00	
05/01/47	$	860,000.00	$	160,000.00	$	17,200.00		
11/01/47	$	700,000.00	$	-	$	14,000.00	$	191,200.00	
05/01/48	$	700,000.00	$	165,000.00	$	14,000.00		
11/01/48	$	535,000.00	$	-	$	10,700.00	$	189,700.00	
05/01/49	$	535,000.00	$	170,000.00	$	10,700.00		
11/01/49	$	365,000.00	$	-	$	7,300.00	$	188,000.00	
05/01/50	$	365,000.00	$	180,000.00	$	7,300.00		
11/01/50	$	185,000.00	$	-	$	3,700.00	$	191,000.00	
05/01/51	$	185,000.00	$	185,000.00	$	3,700.00	$	188,700.00	

$	3,325,000.00	$	2,480,475.00	$	5,805,475.00