Keys Cove 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 COMMUNITY DEVELOPMENT DISTRICT OPERATING 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	
Administrative Assessments	70,695	74,451	74,451	
Maintenance Assessments	115,039	115,039	115,039	
Debt Assessments	737,791	737,791	737,791	
Other Revenues	0	0	0	
Interest Income	480	970	954	
		0		
Total Revenues	$	924,005	$	928,251	$	928,235	
				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	5,000	2,600	2,600	
Payroll Taxes - Employer	400	199	199	
Management	31,164	31,164	31,164	
Reimbursables	1,200	475	421	
Legal	10,500	10,250	8,250	
Assessment Roll	7,500	7,500	7,500	
Audit Fees	3,900	3,900	3,900	
Arbitrage Rebate Fee	650	650	650	
Insurance	6,356	6,040	6,040	
Legal Advertisements	750	750	363	
Miscellaneous	950	950	687	
Dues & Subscriptions	175	175	175	
Trustee Fees	4,750	4,300	4,300	
Website Management	1,500	1,500	1,500	
Continuing Disclosure Fee	350	350	350	
TOTAL ADMINISTRATIVE EXPENDITURES	$	75,145	$	70,803	$	68,099	
				
MAINTENANCE EXPENDITURES				
MAINTENANCE CONTINGENCY	36,540	25,000	15,590	
STORM DRAINAGE MAINTENANCE	20,520	20,520	15,525	
ROADWAY RESURFACING PROJECT	35,715	35,715	3,045	
MAINTENANCE RESERVE	25,000	10,000	0	
FOUNTAIN MAINTENANCE	10,000	5,000	1,050	
HOLIDAY LIGHTING CONTRIBUTION	2,500	500	0	
ENGINEERING/INSPECTIONS	2,500	1,528	1,528	
TOTAL MAINTENANCE EXPENDITURES	$	132,775	$	98,263	$	36,738	
				
TOTAL EXPENDITURES	$	207,920	$	169,066	$	104,837	
				
EXCESS/ (SHORTFALL)	$	716,085	$	759,185	$	823,398	
				
Bond Payments	(693,524)	(708,536)	(708,536)	
				
Balance	$	22,561	$	50,649	$	114,862	
				
County Appraiser & Tax Collector Fee	(18,470)	(8,987)	(8,987)	
Discounts For Early Payments	(36,941)	(27,663)	(27,663)	
				
Excess/ (Shortfall)	$	(32,850)	$	13,999	$	78,212	
				
Carryover From Prior Year	32,850	32,850	0	
				
Net Excess/ (Shortfall)	$	-	$	46,849	$	78,212	

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

$365,898	
$13,999	
$379,897	

Note: $32,850 Of Fund Balance Used To Reduce 2018/2019 Assessments.
$34,045 Of Fund Balance To Be Used To Reduce 2019/2020 Assessments.

10/14/2019 7:43 AM	I

AMENDED FINAL BUDGET
KEYS COVE 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	0	10,050	10,006	
NAV Tax Collection	693,524	708,536	708,536	
				
Total Revenues	$	693,524	$	718,586	$	718,542	
				
EXPENDITURES				
Principal Payments (2004)	355,000	355,000	355,000	
Interest Payments (2004)	260,525	265,370	265,370	
Additional Principal Payment	77,999	70,000	70,000	
				
Total Expenditures	$	693,524	$	690,370	$	690,370	
				
EXCESS/ (SHORTFALL)	$	-	$	28,216	$	28,172	

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

$510,452	
$28,216	
$538,668	

Note*: Reserve Fund Balance = $232,039. Revenue Fund Balance = $306,629. Revenue Fund Balance To Be Used To Make 11/1/2019 Interest Payment Of $126,055 And Extraordinary Principal Payment Of $70,000.
* Approximate Amounts

Series 2015 Bond Refunding Information
Original Par Amount =	$8,965,000	Annual Principal Payments Due:	
Interest Rate =	3.40%*	May 1st	
Issue Date =	March 2015	Annual Interest Payments Due:	
Maturity Date =
* Rate Is adjustable After Ten Years Par Amount As Of 9/30/19 =	May 2035

$7,415,000	May 1st & November 1st	

10/14/2019 7:43 AM	II