Title: KC Amended Final Budget 2022-2023.xlsx
Author: JWalker

AMENDED FINAL BUDGET
KEYS COVE COMMUNITY DEVELOPMENT DISTRICT

Keys Cove Community Development District

Amended Final Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

OPERATING FUND FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES

FISCAL YEAR 2022/2023 BUDGET 10/1/22 - 9/30/23

AMENDED FINAL BUDGET
10/1/22 - 9/30/23

YEAR TO DATE ACTUAL
10/1/22 - 9/29/23

Administrative Assessments | 83,535 | 88,753 | 88,753
Maintenance Assessments | 530,549 | 530,552 | 530,552
Debt Assessments | 613,370 | 613,377 | 613,377
Other Revenues | 0 | 0 | 0
Interest Income | 360 | 35,131 | 35,031
| | | .
Total Revenues | $	1,227,814 | $	1,267,813 | $	1,267,713
ADMINISTRATIVE EXPENDITURES | | |
Supervisor Fees | 5,000 | 2,200 | 2,200
Payroll Taxes - Employer | 400 | 168 | 168
Management | 33,048 | 33,048 | 33,048
Reimbursables (Postage/Office Supplies) | 1,050 | 575 | 521
Legal | 10,500 | 9,000 | 7,790
Assessment Roll | 7,500 | 7,500 | 7,500
Audit Fees | 3,700 | 3,700 | 3,700
Arbitrage Rebate Fee | 650 | 650 | 650
Insurance | 8,310 | 7,475 | 7,475
Legal Advertisements | 750 | 600 | 274
Miscellaneous | 950 | 1,900 | 1,832
Dues & Subscriptions | 175 | 175 | 175
Trustee Fees | 4,500 | 4,246 | 4,246
Website Management | 2,000 | 2,000 | 2,000
Continuing Disclosure Fee | 350 | 350 | 350
TOTAL ADMINISTRATIVE EXPENDITURES | $	78,883 | $	73,587 | $	71,929
MAINTENANCE EXPENDITURES | | |
Maintenance Contingency | 28,830 | 2,500 | 320
Storm Drainage Maintenance | 20,520 | 20,520 | 2,300
Roadway Resurfacing Project | 35,715 | 35,715 | 0
Maintenance Reserve | 25,000 | 5,000 | 0
Fountain Maintenance | 10,000 | 23,000 | 20,923
Holiday Contribution | 2,500 | 2,500 | 0
Engineering/Inspections | 7,500 | 7,500 | 6,825
North Lake Erosion Project | 368,651 | 368,651 | 70,646
TOTAL MAINTENANCE EXPENDITURES | $	498,716 | $	465,386 | $	101,014
TOTAL EXPENDITURES | $	577,599 | $	538,973 | $	172,943
EXCESS/ (SHORTFALL) | $	650,215 | $	728,840 | $	1,094,770
Bond Payments | (576,568) | (587,680) | (587,680)
Balance | $	73,647 | $	141,160 | $	507,090
County Appraiser & Tax Collector Fee | (24,549) | (11,919) | (11,919)
Discounts For Early Payments | (49,098) | (39,547) | (39,547)
Excess/ (Shortfall) | $	- | $	89,694 | $	455,624
Carryover From Prior Year | 0 | 0 | 0
Net Excess/ (Shortfall) | $	- | $	89,694 | $	455,624

FUND BALANCE AS OF 9/30/22
FY 2022/2023 ACTIVITY
FUND BALANCE AS OF 9/30/23

$1,230,982
$89,694
$1,320,676

Notes
Fund Balance Includes Storm Drainage, Roadway Resurfacing And Emergency/Improvements (Erosion Project) Reserves. Reserve Funds Balance As Of 9/30/2023 is $661,510 - Storm Drainage (95,795), Roadways (139,815), Erosion (425,900).
Unspent Storm Drainage Maintenance, Roadway Resurfacing & Emergency/Improvements (Erosion Project) To Be Added To Reserves.

10/17/2023 7:25 AM	^I

DEBT SERVICE FUND FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES

FISCAL YEAR 2022/2023 BUDGET
10/1/22 - 9/30/23

AMENDED FINAL BUDGET
10/1/22 - 9/30/23

YEAR TO DATE ACTUAL
10/1/22 - 9/29/23

Interest Income | 25 | 15,794 | 15,694
NAV Tax Collection | 576,568 | 587,680 | 587,680
Total Revenues | $	576,593 | $	603,474 | $	603,374
EXPENDITURES | | |
Principal Payments | 411,000 | 411,000 | 411,000
Interest Payments | 153,413 | 158,756 | 158,756
Bond Redemption | 12,180 | 0 | 0
Total Expenditures | $	576,593 | $	569,756 | $	569,756
EXCESS/ (SHORTFALL) | $	- | $	33,718 | $	33,618

FUND BALANCE AS OF 9/30/22
FY 2022/2023 ACTIVITY
FUND BALANCE AS OF 9/30/23

$355,252
$33,718
$388,970

Note*: Reserve Fund Balance = $104,174. Revenue Fund Balance = $284,796. Revenue Fund Balance To Be Used To Make 11/1/2023 Interest Payment Of $74,035.
* Approximate Amounts

Series 2019 Bond Refunding Information
Original Par Amount =	$7,322,000	Annual Principal Payments Due:
Interest Rate =	2.60%	May 1st
Issue Date =	December 2019	Annual Interest Payments Due:
Maturity Date =	May 2035	May 1st & November 1st

Par Amount As Of 9/30/23 =	$5,695,000

10/17/2023 7:25 AM	^II