West Villages Improvement District

Amended Final Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

WEST VILLAGES IMPROVEMT DISTRICT
FY 2019/2020 AMENDED FINAL BUDGET

TABLE OF CONTENTS

Budget Summary
All Units Comparison	1
Amended Final Operating Fund Budget - District Proper	2
Amended Final Operating Fund Budget - Unit 1	3
Amended Final Operating Fund Budget - Unit 2	4
Amended Final Operating Fund Budget - Unit 3	5
Amended Final Operating Fund Budget - Unit 4	6
Amended Final Operating Fund Budget - Unit 5	7
Amended Final Operating Fund Budget - Unit 7	8
Debt Service
Amended Final Debt Service Fund Budget - Unit 1	9
Amended Final Debt Service Fund Budget - Unit 2	10
Amended Final Debt Service Fund Budget - Unit 3	11
Amended Final Debt Service Fund Budget - Unit 4	12
Amended Final Debt Service Fund Budget - Baseball Stadium Bonds	13
Amended Final Debt Service Fund Budget - Baseball Stadium Notes	14
Amended Final Debt Service Fund Budget - Unit 7	15
Assessment Summary
Total Assessment Comparison	16

AMENDED FINAL BUDGET COMPARISON - ALL UNITS
WEST VILLAGES IMPROVEMENT DISTRICT

	FISCAL YEAR		FISCAL YEAR			FISCAL YEAR	
	2019/2020		2019/2020			2019/2020	
	ANNUAL BUDGET		AMENDED FINAL BUDGET			ACTUAL	
	10/1/19 - 9/30/20		10/1/19 - 9/30/20			10/1/19 - 9/29/20	
REVENUES								
O & M ASSESSMENTS	1,688,554		1,654,390			1,654,390	
O & M ASSESSMENTS - DIRECT BILL	498,250		114,724			114,724	
DEBT ASSESSMENTS	6,992,980		5,704,153			5,704,153	
DEBT DIRECT BILL	4,915,516		4,728,486			4,728,486	
INTEREST INCOME	1,000		6,916			6,916	
DEVELOPER FUNDING	0		10,504,081			10,504,081	
OTHER REVENUES	0		64,404			64,404	
OTHER REVENUES - CAPITAL	0		1,311,510			1,311,510	
OTHER REVENUES - CITY	0		1,975,389			1,975,389	
CARRY OVER FUNDS FROM PRIOR YEAR	0		0			0	
Total Revenues		  $	14,096,300		  $	26,064,053		$	26,064,053	

EXPENDITURES								
BASEBALL FACILITY EXPENSES	0		91,126			91,126	
INFRASTRUCTURE MAINTENANCE	1,399,000		1,833,282			1,697,805	
INFRASTRUCTURE MAINTENANCE - EXTRAORDINARY	0		1,300,000			1,255,437	
ENGINEERING	80,500		123,225			114,891	
MANAGEMENT	132,616		132,616			132,616	
OPERATIONS MANAGER	92,700		92,700			92,700	
LEGAL	170,000		202,922			190,660	
ASSESSMENT ROLL	13,500		15,000			15,000	
AUDIT FEES	19,800		23,975			23,975	
ARBITRAGE REBATE FEE	6,000		3,900			3,900	
RENTS & LEASES	15,000		14,400			14,400	
INSURANCE	40,000		35,457			35,457	
LEGAL ADVERTISING	3,000		5,000			3,971	
MISCELLANEOUS	73,100		88,766			85,168	
POSTAGE	1,000		2,769			2,769	
OFFICE SUPPLIES	10,000		3,773			3,773	
DUES & SUBSCRIPTIONS	175		175			175	
TRUSTEE FEES	25,600		32,169			32,169	
WEBSITE	3,000		1,500			1,500	
CONTINUING DISCLOSURE FEE	1,500		5,500			5,500	
CAPITAL OUTLAY	0		12,600,000			11,362,892	
CAPITAL - DEVELOPER DEPOSIT REFUND	0		0			0	
Total Expenditures		$	2,086,491		$	16,608,255		$	15,165,884	
							
EXCESS OR (SHORTFALL)		  $	12,009,809		  $	9,455,798		$	10,898,169	

DEBT PAYMENT TO TRUSTEE (ALL UNITS)	
(11,488,918)		
(10,129,136)			
(10,129,136)	
BALANCE		  $	520,891		  $	(673,338)		$	769,033	

COUNTY APPRAISER & TAX COLLECTOR FEE	
(173,630)		
(70,764)			
(70,764)	
DISCOUNTS FOR EARLY PAYMENTS	(347,261)		(285,532)			(285,532)	
NET EXCESS/SHORTFALL		  $	-			  $	(1,029,634)		$	412,737	

1

DISTRICT PROPER FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

	FISCAL YEAR	FISCAL YEAR		FISCAL YEAR	
	2019/2020	2019/2020		2019/2020	
	ANNUAL BUDGET	AMENDED FINAL BUDGET		ACTUAL	
	10/1/19 - 9/30/20	10/1/19 - 9/30/20		10/1/19 - 9/29/20	
REVENUES								
O & M ASSESSMENTS			309,745	307,347		307,347	
O & M DIRECT BILL			0	0		0	
DEBT ASSESSMENTS			0	0		0	
DEBT DIRECT BILL			0	0		0	
DEVELOPER CONTRIBUTION			0	0		0	
INTEREST INCOME			1,000	6,916		6,916	
OTHER REVENUES			0	2,431		2,431	
OTHER REVENUES - CAPITAL			0	0		0	
CARRY OVER FUNDS FROM PRIOR YEAR			0	0		0	
Total Revenues			$	310,745	$	316,694	$	316,694	

EXPENDITURES								
ENGINEERING			45,000	82,000		78,123	
MANAGEMENT			60,586	60,586		60,586	
OPERATIONS MANAGER			20,600	20,600		20,600	
LEGAL			80,000	80,000		74,885	
ASSESSMENT ROLL			7,500	9,000		9,000	
ANNUAL AUDIT			4,800	5,813		5,813	
ARBITRAGE REBATE FEE			0	0		0	
RENTS & LEASES			15,000	14,400		14,400	
INSURANCE			40,000	35,457		35,457	
LEGAL ADVERTISING			3,000	5,000		3,971	
MISCELLANEOUS			3,000	81,000		77,402	
POSTAGE			1,000	2,769		2,769	
OFFICE SUPPLIES			10,000	3,773		3,773	
DUES & SUBSCRIPTIONS			175	175		175	
TRUSTEE FEES			0	0		0	
CONTINUING DISCLOSURE FEE			0	0		0	
WEBSITE			1,500	1,500		1,500	
CONTINGENCY / PREV SHORTFALL			0	0		0	
CAPITAL OUTLAY				0	0		0	
Total Expenditures			$	292,161	$	402,073	$	388,454	
							
EXCESS OR (SHORTFALL)			$	18,584	$	(85,379)	$	(71,760)	

PAYMENT TO TRUSTEE			
-	
-		
-	
BALANCE			$	18,584	$	(85,379)	$	(71,760)	

COUNTY APPRAISER & TAX COLLECTOR FEE			
(6,194)	
(2,956)		
(2,956)	
DISCOUNTS FOR EARLY PAYMENTS			(12,390)	(11,924)		(11,924)	
NET EXCESS/SHORTFALL			$	-	$	(100,259)	$	(86,640)	

Note: Miscellaneous Actual Includes Unit 5 Administrative Cost Reimbursement Of $46,311

UNIT ONE FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

	FISCAL YEAR	FISCAL YEAR	FISCAL YEAR	
	2019/2020	2019/2020	2019/2020	
	ANNUAL BUDGET	AMENDED FINAL BUDGET	ACTUAL	
	10/1/19 - 9/30/20	10/1/19 - 9/30/20	10/1/19 - 9/29/20	
REVENUES				
O & M ASSESSMENTS		1,055,378	1,042,624	1,042,624	
O & M DIRECT BILL		0	0	0	
DEBT ASSESSMENTS		2,528,025	2,497,397	2,497,397	
DEBT DIRECT BILL		0	0	0	
DEVELOPER CONTRIBUTION		0	159,770	159,770	
OTHER REVENUES		0	5,847	5,847	
OTHER REVENUES - CITY		0	1,975,389	1,975,389	
CARRY OVER FUNDS FROM PRIOR YEAR		0	0	0	
Total Revenues			$	3,583,403	$	5,681,027	$	5,681,027	

EXPENDITURES				
INFRASTRUCTURE MAINTENANCE		928,000	1,550,000	1,484,235	
REIMBURSEMENT TO DEV - INVOICE PREV PAID BY DEV		0	1,300,000	1,255,437	
ENGINEERING		5,000	11,000	9,796	
MANAGEMENT		12,005	12,005	12,005	
OPERATIONS MANAGER		20,600	20,600	20,600	
LEGAL		15,000	82,000	78,524	
ASSESSMENT ROLL		1,500	1,500	1,500	
AUDIT FEES		2,500	3,027	3,027	
ARBITRAGE REBATE FEE		1,500	650	650	
RENTS & LEASES		0	0	0	
INSURANCE		0	0	0	
LEGAL ADVERTISING		0	0	0	
MISCELLANEOUS		1,700	7,429	7,429	
POSTAGE		0	0	0	
OFFICE SUPPLIES		0	0	0	
DUES & SUBSCRIPTIONS		0	0	0	
TRUSTEE FEES		3,750	7,418	7,418	
CONTINUING DISCLOSURE FEE		500	500	500	
WEBSITE		0	0	0	
CONTINGENCY / PREV SHORTFALL		0	0	0	
CAPITAL OUTLAY			0	100,000	0	
Total Expenditures			$	992,055	$	3,096,129	$	2,881,121	
				
EXCESS OR (SHORTFALL)			$	2,591,348	$	2,584,898	$	2,799,906	

PAYMENT TO TRUSTEE		(2,376,344)	(2,364,516)	(2,364,516)	
BALANCE			$	215,004	$	220,382	$	435,390	

COUNTY APPRAISER & TAX COLLECTOR FEE		(71,668)	(34,043)	(34,043)	
DISCOUNTS FOR EARLY PAYMENTS		(143,336)	(137,364)	(137,364)	
NET  EXCESS/SHORTFALL			$	-	$	48,975	$	263,983	

UNIT TWO FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

	FISCAL YEAR	FISCAL YEAR	FISCAL YEAR	
	2019/2020	2019/2020	2019/2020	
	ANNUAL BUDGET	AMENDED FINAL BUDGET	ACTUAL	
	10/1/19 - 9/30/20	10/1/19 - 9/30/20	10/1/19 - 9/29/20	
REVENUES				
O & M ASSESSMENTS		42,439	22,958	22,958	
O & M DIRECT BILL		2,813	1,192	1,192	
DEBT ASSESSMENTS		2,646,152	1,385,383	1,385,383	
DEBT DIRECT BILL		116,724	0	0	
DEVELOPER CONTRIBUTION		0	130,951	130,951	
OTHER REVENUES		0	12	12	
OTHER REVENUES - SETTLEMENT		0	0	0	
OTHER REVENUES - CAPITAL		0	0	0	
CARRY OVER FUNDS FROM PRIOR YEAR		0	0	0	
Total Revenues			$	2,808,128	$	1,540,496	$	1,540,496	

EXPENDITURES				
INFRASTRUCTURE MAINTENANCE		0	0	0	
INFRASTRUCTURE MAINTENANCE - EXTRAORDINARY		0	0	0	
ENGINEERING		3,000	225	225	
MANAGEMENT		12,005	12,005	12,005	
OPERATIONS MANAGER		0	0	0	
LEGAL		15,000	17,500	16,546	
ASSESSMENT ROLL		1,500	1,500	1,500	
AUDIT FEES		2,500	3,027	3,027	
ARBITRAGE REBATE FEE		1,500	650	650	
RENTS & LEASES		0	0	0	
INSURANCE		0	0	0	
LEGAL ADVERTISING		0	0	0	
MISCELLANEOUS		1,700	258	258	
POSTAGE		0	0	0	
OFFICE SUPPLIES		0	0	0	
DUES & SUBSCRIPTIONS		0	0	0	
TRUSTEE FEES		5,000	0	0	
CONTINUING DISCLOSURE FEE		500	2,000	2,000	
WEBSITE		0	0	0	
CONTINGENCY / PREV SHORTFALL		0	0	0	
CAPITAL OUTLAY			0	0	0	
Total Expenditures			$	42,705	$	37,165	$	36,211	
				
EXCESS OR (SHORTFALL)			$	2,765,423	$	1,503,331	$	1,504,285	

PAYMENT TO TRUSTEE		
(2,604,107)	(1,311,670)	
(1,311,670)	
BALANCE			$	161,316	$	191,661	$	192,615	

COUNTY APPRAISER & TAX COLLECTOR FEE		
(53,772)	(13,543)	
(13,543)	
DISCOUNTS FOR EARLY PAYMENTS		(107,544)	(54,648)	(54,648)	
NET EXCESS/SHORTFALL			$	-	$	123,470	$	124,424	

UNIT THREE FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

	FISCAL YEAR	FISCAL YEAR	FISCAL YEAR	
	2019/2020	2019/2020	2019/2020	
	ANNUAL BUDGET	AMENDED FINAL BUDGET	ACTUAL	
	10/1/19 - 9/30/20	10/1/19 - 9/30/20	10/1/19 - 9/29/20	
REVENUES					
O & M ASSESSMENTS		168,373	168,656	168,656	
O & M DIRECT BILL		12,784	12,784	12,784	
DEBT ASSESSMENTS		1,247,413	1,249,177	1,249,177	
DEBT DIRECT BILL		98,780	79,816	79,816	
DEVELOPER CONTRIBUTION		0	0	0	
OTHER REVENUES		0	0	0	
OTHER REVENUES - CAPITAL		0	0	0	
CARRY OVER FUNDS FROM PRIOR YEAR		0	0	0	
Total Revenues			$	1,527,350	$	1,510,433	$	1,510,433	

EXPENDITURES					
INFRASTRUCTURE MAINTENANCE		92,000	10,000	8,463	
ENGINEERING		20,000	28,000	26,072	
MANAGEMENT		12,005	12,005	12,005	
OPERATIONS MANAGER		20,600	20,600	20,600	
LEGAL		15,000	15,000	13,668	
ASSESSMENT ROLL		1,500	1,500	1,500	
AUDIT FEES		2,500	3,027	3,027	
ARBITRAGE REBATE FEE		1,500	650	650	
RENTS & LEASES		0	0	0	
INSURANCE		0	0	0	
LEGAL ADVERTISING		0	0	0	
MISCELLANEOUS		1,700	54	54	
POSTAGE		0	0	0	
OFFICE SUPPLIES		0	0	0	
DUES & SUBSCRIPTIONS		0	0	0	
TRUSTEE FEES		3,750	3,709	3,709	
CONTINUING DISCLOSURE FEE		500	500	500	
WEBSITE		0	0	0	
CONTINGENCY / PREV SHORTFALL		0	0	0	
CAPITAL OUTLAY			0	0	0	
Total Expenditures			$	171,055	$	95,045	$	90,248	
					
EXCESS  OR (SHORTFALL)			$	1,356,295	$	1,415,388	$	1,420,185	

PAYMENT TO TRUSTEE		(1,271,349)	(1,262,528)	(1,262,528)	
BALANCE			$	84,946	$	152,860	$	157,657	

COUNTY APPRAISER & TAX COLLECTOR FEE		(28,315)	(13,635)	(13,635)	
DISCOUNTS FOR EARLY PAYMENTS		(56,631)	(55,016)	(55,016)	
NET EXCESS/SHORTFALL			$	-	$	84,209	$	89,006	

UNIT FOUR FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

		FISCAL YEAR	FISCAL YEAR	FISCAL YEAR	
		2019/2020	2019/2020	2019/2020	
		ANNUAL BUDGET	AMENDED FINAL BUDGET	ACTUAL	
		10/1/19 - 9/30/20	10/1/19 - 9/30/20	10/1/19 - 9/29/20	
REVENUES					
O & M ASSESSMENTS		112,619	112,805	112,805	
O & M DIRECT BILL		50,193	50,193	50,193	
DEBT ASSESSMENTS		571,390	572,196	572,196	
DEBT DIRECT BILL		300,560	292,669	292,669	
DEVELOPER CONTRIBUTION		0	130,951	130,951	
OTHER REVENUES		0	12	12	
OTHER REVENUES - CAPITAL		0	0	0	
CARRY OVER FUNDS FROM PRIOR YEAR		0	0	0	
Total Revenues			$	1,034,762	$	1,158,826	$	1,158,826	

EXPENDITURES					
INFRASTRUCTURE MAINTENANCE		95,000	125,000	104,191	
ENGINEERING		3,000	0	0	
MANAGEMENT		12,005	12,005	12,005	
OPERATIONS MANAGER		10,300	10,300	10,300	
LEGAL		15,000	3,000	2,275	
ASSESSMENT ROLL		1,500	1,500	1,500	
AUDIT FEES		2,500	3,027	3,027	
ARBITRAGE REBATE FEE		1,500	650	650	
RENTS & LEASES		0	0	0	
INSURANCE		0	0	0	
LEGAL ADVERTISING		0	0	0	
MISCELLANEOUS		10,000	0	0	
POSTAGE		0	0	0	
OFFICE SUPPLIES		0	0	0	
DUES & SUBSCRIPTIONS		0	0	0	
TRUSTEE FEES		3,750	3,709	3,709	
CONTINUING DISCLOSURE FEE		1,500	500	500	
WEBSITE		0	0	0	
CONTINGENCY / PREV SHORTFALL		0	0	0	
CAPITAL OUTLAY			0	0	0	
Total Expenditures			$	156,055	$	159,691	$	138,157	
					
EXCESS  OR (SHORTFALL)			$	878,707	$	999,135	$	1,020,669	

PAYMENT TO TRUSTEE		(837,666)	(834,421)	(834,421)	
BALANCE			$	41,041	$	164,714	$	186,248	

COUNTY APPRAISER & TAX COLLECTOR FEE		(13,680)	(6,587)	(6,587)	
DISCOUNTS FOR EARLY PAYMENTS		(27,360)	(26,580)	(26,580)	
NET EXCESS/SHORTFALL			$	-	$	131,547	$	153,081	

WEST VILLAGES IMPROVEMENT DISTRICT UNIT FIVE
FISCAL YEAR 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

	FISCAL YEAR	FISCAL YEAR	FISCAL YEAR	
	2019/2020	2019/2020	2019/2020	
	ANNUAL BUDGET	AMENDED FINAL BUDGET	ACTUAL	
	10/1/19 - 9/30/20	10/1/19 - 9/30/20	10/1/19 - 9/29/20	
REVENUES				
O & M ASSESSMENTS		0	0	0	
O & M DIRECT BILL		67,905	0	0	
DEBT ASSESSMENTS		0	0	0	
DEBT DIRECT BILL		3,625,720	3,588,592	3,588,592	
DEVELOPER CONTRIBUTION		0	0	0	
OTHER REVENUES		0	46,311	46,311	
OTHER REVENUES - CAPITAL		0	1,311,510	1,311,510	
CARRY OVER FUNDS FROM PRIOR YEAR		0	0	0	
Total Revenues			$	3,693,625	$	4,946,413	$	4,946,413	

EXPENDITURES				
BASEBALL FACILITY EXPENSES		0	91,126	91,126	
INFRASTRUCTURE MAINTENANCE		15,000	23,282	23,282	
ENGINEERING		2,500	0	0	
MANAGEMENT		12,005	12,005	12,005	
OPERATIONS MANAGER		10,300	10,300	10,300	
LEGAL		15,000	3,922	3,922	
ASSESSMENT ROLL		0	0	0	
AUDIT FEES		2,500	3,027	3,027	
ARBITRAGE REBATE FEE		0	0	0	
RENTS & LEASES		0	0	0	
INSURANCE		0	0	0	
LEGAL ADVERTISING		0	0	0	
MISCELLANEOUS		5,000	25	25	
POSTAGE		0	0	0	
OFFICE SUPPLIES		0	0	0	
DUES & SUBSCRIPTIONS		0	0	0	
TRUSTEE FEES		5,600	5,507	5,507	
CONTINUING DISCLOSURE FEE		0	1,500	1,500	
WEBSITE		0	0	0	
CONTINGENCY / PREV SHORTFALL		0	0	0	
CAPITAL OUTLAY			0	1,500,000	1,193,524	
Total Expenditures			$	67,905	$	1,650,694	$	1,344,218	
				
EXCESS  OR (SHORTFALL)			$	3,625,720	$	3,295,719	$	3,602,195	

PAYMENT TO TRUSTEE		(3,625,720)	(3,588,592)	(3,588,592)	
BALANCE			$	-	$	(292,873)	$	13,603	

COUNTY APPRAISER & TAX COLLECTOR FEE		0	0	0	
DISCOUNTS FOR EARLY PAYMENTS		0	0	0	
NET EXCESS/SHORTFALL			$	-	$	(292,873)	$	13,603	

Note: Baseball Facility Expenses Actual Includes Water & Sewer Guaranteed Revenue Payment To North Port Utilities Of $66,126.

WEST VILLAGES IMPROVEMENT DISTRICT UNIT SEVEN
FISCAL YEAR 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

		FISCAL YEAR	FISCAL YEAR	FISCAL YEAR	
		2019/2020	2019/2020	2019/2020	
		ANNUAL BUDGET	AMENDED FINAL BUDGET	ACTUAL	
		10/1/19 - 9/30/20	10/1/19 - 9/30/20	10/1/19 - 9/29/20	
REVENUES				
O & M ASSESSMENTS		0	0	0	
O & M DIRECT BILL		364,555	50,555	50,555	
DEBT ASSESSMENTS		0	0	0	
DEBT DIRECT BILL		773,731	767,409	767,409	
DEVELOPER FUNDING		0	10,213,360	10,213,360	
OTHER REVENUES		0	9,803	9,803	
OTHER REVENUES - CAPITAL		0	0	0	
CARRY OVER FUNDS FROM PRIOR YEAR		0	0	0	
Total Revenues			$	1,138,286	$	11,041,127	$	11,041,127	

EXPENDITURES				
ALL BASEBALL FACILITY EXPENSES		0	0	0	
INFRASTRUCTURE MAINTENANCE		269,000	125,000	77,634	
ENGINEERING		2,000	2,000	675	
MANAGEMENT		12,005	12,005	12,005	
OPERATIONS MANAGER		10,300	10,300	10,300	
LEGAL		15,000	1,500	840	
ASSESSMENT ROLL		0	0	0	
AUDIT FEES		2,500	3,027	3,027	
ARBITRAGE REBATE FEE		0	1,300	1,300	
RENTS & LEASES		0	0	0	
INSURANCE		0	0	0	
LEGAL ADVERTISING		0	0	0	
MISCELLANEOUS		50,000	0	0	
POSTAGE		0	0	0	
OFFICE SUPPLIES		0	0	0	
DUES & SUBSCRIPTIONS		0	0	0	
TRUSTEE FEES		3,750	11,826	11,826	
CONTINUING DISCLOSURE FEE		0	500	500	
WEBSITE		0	0	0	
CONTINGENCY / PREV SHORTFALL		0	0	0	
CAPITAL OUTLAY		0	11,000,000	10,169,368	
CAPITAL - DEVELOPER DEPOSIT REFUND		0	0	0	
Total Expenditures			$	364,555	$	11,167,458	$	10,287,475	
				
EXCESS  OR (SHORTFALL)			$	773,731	$	(126,331)	$	753,652	

PAYMENT TO TRUSTEE		(773,731)	(767,409)	(767,409)	
BALANCE			$	-	$	(893,740)	$	(13,757)	

COUNTY APPRAISER & TAX COLLECTOR FEE		-	-	-	
DISCOUNTS FOR EARLY PAYMENTS		-	-	-	
NET EXCESS/SHORTFALL			$	-	$	(893,740)	$	(13,757)	

FISCAL YEAR 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

	FISCAL YEAR		FISCAL YEAR		FISCAL YEAR	
	2019/2020
ANNUAL BUDGET 10/1/19 - 9/30/20		2019/2020
AMENDED FINAL BUDGET 10/1/19 - 9/30/20		2019/2020
ACTUAL 10/1/19 - 9/29/20	
REVENUES	
Interest Income		

0		

1,262		

1,262	
Debt Collections			2,376,344		2,364,516		2,364,516	
Total Revenues			$	2,376,344	$	2,365,778	$	2,365,778	

EXPENDITURES	
Principal Payments		

1,080,000		

1,080,000		

1,080,000	
Interest Payments		1,296,344		1,315,244		1,315,244	
Miscellaneous			0		0		0	
Total Expenditures			$	2,376,344	$	2,395,244	$	2,395,244	
							
Excess/Shortfall			$	-	$	(29,466)	$	(29,466)	

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

$1,362,255	
($29,466)	
$1,332,789	

Notes
Reserve Fund Balances = $600,000*. Revenue Fund Balance = $732,789*.
Revenue Fund Balance To Be Used To Make 11/1/2020 Interest Payment Of $638,722.
* Approximate Amounts

Series 2017 Bond Refunding Information

Original Par Amount =	$32,165,000	Annual Principal Payment Due =	
Interest Rate =	3.5% - 4.625%	May 1st	
Issue Date =	August 2017	Annual Interest Payments Due =	
Maturity Date =

Par Amount As Of 9/30/20 =	May 2038

$29,270,000	May 1st & November 1st	

OCTOBER 1, 2019 - SEPTEMBER 30, 2020

	FISCAL YEAR		FISCAL YEAR		FISCAL YEAR	
	2019/2020
ANNUAL BUDGET 10/1/19 - 9/30/20		2019/2020
AMENDED FINAL BUDGET 10/1/19 - 9/30/20		2019/2020
ACTUAL 10/1/19 - 9/29/20	
REVENUES	
Interest Income			

0		

7,038		

7,038	
Debt Collections			2,604,107		1,311,670		1,311,670	
Transfer From Series 2005 Debt Service			0		1,021,525		1,021,525	
Bifurcation - Elimination Of Principal & Interest			0		8,168,070		8,168,070	
Prepaid Debt Collections				0		38,601		38,601	
Total Revenues			$	2,604,107	$	10,546,904	$	10,546,904	

EXPENDITURES	
Principal Payments (2019A-1)			

1,025,000		

525,000		

525,000	
Interest Payments (2019A-2)			1,631,105		473,321		473,321	
Interest Payments (2005)			0		348,236		348,236	
Bifurcation Cost Of Issuance			0		211,500		211,500	
Miscellaneous  - Bifurcation				0		3,651,916		3,651,916	
Total Expenditures			$	2,656,105	$	5,209,973	$	5,209,973	
								
Excess/Shortfall			$	(51,998)	$	5,336,931	$	5,336,931	

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

($4,548,647)	
$5,336,931	
$788,284	

Notes
West Villages Unit 2 Series 2005 Bonds Were Bifurcated On 10/16/19. Reserve Fund Balances = $201,000*. Revenue Fund Balances = $561,683*. Prepayment Account Balance = $23,601*.
Revenue Fund Balance To Be Used To Make 11/1/2020 A-1 Interest Payment Of $421,619.
Prepayment Account Balance To Be Used To Make 11/1/2020 Extraordinary Principal Payment Of $20,000.
* Approximate Amounts

Series 2019A-1 (Performing) Bond Information
Original Par Amount =	$15,190,000	Annual Principal Payment Due =	
Interest Rate =	5.75%	May 1st	
Issue Date =	October 2019	Annual Interest Payments Due =	
Maturity Date =	May 2036	May 1st & November 1st	
Par Amount As Of 9/30/20 =	$14,665,000		

Series 2019A-2 (Non Performing) Bond Information	
Original Par Amount =	$12,830,000	Annual Principal Payment Due =	
Interest Rate =	5.75%	May 1st	
Issue Date =	October 2019	Annual Interest Payments Due =	
Maturity Date =	May 2036	May 1st & November 1st	
Par Amount As Of 9/30/20 =	$12,830,000		

	FISCAL YEAR		FISCAL YEAR		FISCAL YEAR	
	2019/2020
ANNUAL BUDGET 10/1/19 - 9/30/20		2019/2020
AMENDED FINAL BUDGET 10/1/19 - 9/30/20		2019/2020
ACTUAL 10/1/19 - 9/29/20	

REVENUES	
Interest Income			

0		

395		

395	
Debt Collections			1,271,349		1,262,528		1,262,528	
Prepaid Debt Collections				0		77,459		77,459	
Total Revenues			$	1,271,349	$	1,340,382	$	1,340,382	

EXPENDITURES	
Principal Payments			

585,000		

585,000		

585,000	
Interest Payments			681,173		689,785		689,785	
Miscellaneous / Extra Redemption				5,176		70,000		70,000	
Total Expenditures			$	1,271,349	$	1,344,785	$	1,344,785	
								
Excess/Shortfall			$	-	$	(4,403)	$	(4,403)	

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

$481,722	
($4,403)	
$477,319	

Notes
Reserve Fund Balance = $100,000*. Revenue Fund Balance = $333,468*. Prepayment Account Balance = $43,851*.
Revenue Fund Balance To Be Used To Make 11/1/2020 Interest Payment Of $333,468.
Prepayment Account Balance To Be Used To Make 11/1/2020 Extraordinary Principal Payment Of $30,000.
* Approximate Amounts - Revenue Account Balance Is As of 10/31/20.

Series 2017 Bond Refunding Information

Original Par Amount =	$16,550,000	Annual Principal Payment Due =	
Interest Rate =	3.5% - 5%	May 1st	
Issue Date =	August 2017	Annual Interest Payments Due =	
Maturity Date =

Par Amount As Of 9/30/20 =	May 2037

$14,760,000	May 1st & November 1st	

UNIT 4 DEBT SERVICE FUND FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

	FISCAL YEAR		FISCAL YEAR		FISCAL YEAR	
	2019/2020
ANNUAL BUDGET 10/1/19 - 9/30/20		2019/2020
AMENDED FINAL BUDGET 10/1/19 - 9/30/20		2019/2020
ACTUAL 10/1/19 - 9/29/20	

REVENUES	
Interest Income			

0		

679		

679	
Debt Collections			837,666		834,421		834,421	
Prepaid Debt Collections				0		13,603		13,603	
Total Revenues			$	837,666	$	848,703	$	848,703	

EXPENDITURES	
Principal Payments			

245,000		

235,000		

235,000	
Interest Payments			590,100		594,066		594,066	
Miscellaneous				2,566		0		0	
Total Expenditures			$	837,666	$	829,066	$	829,066	
								
Excess/Shortfall			$	-	$	19,637	$	19,637	

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

$1,120,379	
$19,637	
$1,140,016	

Notes
Reserve Fund Balance = $586,363*. Revenue Fund Balance = $540,050*. Prepayment Account Fund Balance = $13,603*.
Revenue Fund Balance To Be Used To Make 11/1/2020 Principal & Interest Payment Of $540,050 (Principal Payment: $245,000 & Interest Payment Of $295,050).
Prepayment Account Balance To Be Used To Make 11/1/2020 Extraordinary Principal Payment Of $10,000.
* Approximate Amounts - Revenue Account Balance Is As of 10/31/20.

Series 2016 Bond Information

Original Par Amount =	$13,090,000	Annual Principal Payment Due =	
Interest Rate =	3.375% - 5%	November 1st	
Issue Date =	November 2016	Annual Interest Payments Due =	
Maturity Date =

Par Amount As Of 9/30/20 =	November 2046

$12,380,000	May 1st & November 1st	

BASEBALL STADIUM BONDS DEBT SERVICE FUND FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

	FISCAL YEAR		FISCAL YEAR		FISCAL YEAR	
	2019/2020
ANNUAL BUDGET 10/1/19 - 9/30/20		2019/2020
AMENDED FINAL BUDGET 10/1/19 - 9/30/20		2019/2020
ACTUAL 10/1/19 - 9/29/20	

REVENUES	
Interest Income			

0		

313		

313	
State Of Florida Pledged Revenues				1,000,000		999,996		999,996	
Total Revenues			$	1,000,000	$	1,000,309	$	1,000,309	

EXPENDITURES	
Principal Payments			

530,000		

530,000		

530,000	
Interest Payments			470,497		470,497		470,497	
Other/Extra Redemption				0		0		0	
Total Expenditures			$	1,000,497	$	1,000,497	$	1,000,497	
								
Excess/Shortfall			$	(497)	$	(188)	$	(188)	

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

$277,305	
($188)	
$277,117	

Notes
Bond Service Fund Balance = $168,144*. Revenue Fund Balance = $108,973*.
Bond Service Fund Balance and October 2020 through January 2021 State Of Florida Pledged Revenues to Be Used To Make 2/1/2021 Principal & Interest Payment Of $496,917 (Principal Payment: $265,000 & Interest Payment Of $229,917).
* Approximate Amounts

Series 2017A Bond Information

Original Par Amount =	$13,955,000	Annual Principal Payment Due =	
Interest Rate =	3.72%	February 1st & August 1st	
Issue Date =	December 2017	Annual Interest Payments Due =	
Maturity Date =	February 2038	February 1st & August 1st	

Par Amount As Of 9/30/20 =	
$12,710,000		

	FISCAL YEAR	FISCAL YEAR		FISCAL YEAR	
	2019/2020	2019/2020		2019/2020	
	ANNUAL BUDGET	AMENDED FINAL BUDGET		ACTUAL	
	10/1/19 - 9/30/20	10/1/19 - 9/30/20		10/1/19 - 9/29/20	

REVENUES	
Interest Income			

0	

54,637		

54,637	
Payment By Atlanta Braves				2,625,720	2,588,596		2,588,596	
Total Revenues			$	2,625,720	$	2,643,233	$	2,643,233	

EXPENDITURES	
Principal Payments			

1,244,273	

1,211,560		

1,211,560	
Interest Payments			1,344,323	1,377,035		1,377,035	
Other/Extra  Redemption				36,628	0		0	
Total Expenditures			$	2,625,224	$	2,588,595	$	2,588,595	
							
Excess/Shortfall			$	496	$	54,638	$	54,638	

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

$5,329,842	
$54,638	
$5,384,480	

Notes
Reserve Fund Balance = $4,083,318*. Revenue Fund Balance = $1,301,162*.
Revenue Fund Balance to Be Used To Make 12/30/2020 Principal & Interest Payment Of $1,294,298 (Principal Payment: $630,423 & Interest Payment Of $663,875).
* Approximate Amounts

Series 2017B Notes Information

Original Par Amount =	$27,500,000	Annual Principal Payment Due =	
Interest Rate =	5.39%	June 30th & December 30th	

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT 7 DEBT SERVICE FUND
FISCAL YEAR 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

	FISCAL YEAR	FISCAL YEAR	FISCAL YEAR	
	2019/2020
ANNUAL BUDGET 10/1/19 - 9/30/20	2019/2020
AMENDED FINAL BUDGET 10/1/19 - 9/30/20	2019/2020
ACTUAL  10/1/19 - 9/29/20	

REVENUES	
Interest Income (Master)		

0	

2,481	

2,481	
Interest Income (Village B)		0	108	108	
Capitalized Interest (Set-Up Through May 2020)		773,731	0	0	
Debt Collections		773,731	767,409	767,409	
Debt Proceeds			0	0	0	
Total Revenues		$	1,547,462 $	769,998 $	769,998	

EXPENDITURES	
Principal Payments (Master)			

0	

0	

0	
Principal Payments (Village B)			0	0	0	
Interest Payments (Master)			1,484,338	1,550,308	1,550,308	
Interest Payments (Village B)			0	0	0	
Miscellaneous				63,124	65,931	65,931	
Total Expenditures			$	1,547,462 $	1,616,239 $	1,616,239	
						
Excess/Shortfall			$	- $	(846,241) $	(846,241)	

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

$3,680,635	
($846,241)	
$2,834,394	

Notes
Reserve Fund Balances = $2,060,662*. Revenue Fund Balances = $773,732*. Capitalized Interest Was Set-Up Through May 2020.
Revenue Fund Balance To Be Used To Make 11/1/2020 Interest Payments Of $773,322 (Master Interest Payment: $742,169 & Village B Interest Payment Of $31,563).
* Approximate Amounts - Revenue Account Balance Is As of 10/31/20.

Series 2019 Bond Information (Master)

Original Par Amount =	$31,040,000	Annual Principal Payment Due =	
Interest Rate =	4.00% - 5.00%	May 1st	
Issue Date =	April 2019	Annual Interest Payments Due =	
Maturity Date =	May 2050	May 1st & November 1st	

Par Amount As Of 9/30/20 =

Series 2019 Bond Information (Village B)	
$31,040,000		
Original Par Amount =	$1,320,000	Annual Principal Payment Due =	
Interest Rate =	4% - 5%	May 1st	
Issue Date =	April 2019	Annual Interest Payments Due =	
Maturity Date =	May 2050	May 1st & November 1st	

Par Amount As Of 9/30/20 =	
$1,320,000		

Assessment Comparison Totals

	All Units	All Units	
Lot	Product	Fiscal Year 2018/2019	Fiscal Year 2019/2020	
Type	Type	Assessment Totals	Assessment Totals	

Island Walk	Island Walk Single Family	$646.53	$626.78	
	
	Island Walk Multi Family	$644.43	$625.07	

Pre Lennar	2 Bdr Sam 35	$1,912.67	$1,860.57	
	
	3 Bdr Sam 70	$2,251.69	$2,199.59	
	
	3 Bdr Sam 80	$2,378.62	$2,326.52	
	
	3 Bdr Lee 45	$2,046.98	$1,994.88	
	
	3 Bdr Lee 65	$2,200.04	$2,147.94	

Lennar	35'	$1,223.60	$1,185.20	
	
	Townhome	$1,223.60	$1,185.20	
	
	Coach	$1,374.95	$1,331.36	
	
	45'	$1,447.23	$1,395.13	
	
	52'	$1,553.61	$1,501.51	
	
	62'	$1,659.99	$1,607.89	
	
	65'	$1,659.99	$1,607.89	
	
	70'	$1,659.99	$1,607.89	
	
	75'	$1,766.38	$1,714.28	
	
	80'	$1,766.38	$1,714.28	

Renaissance	35' Villa	$1,001.47	$1,081.64	
	
	50' SF	$1,322.37	$1,402.54	
	
	60' SF	$1,536.31	$1,616.48	
	
Oasis	60' SF	$1,153.33	$1,233.50	
	
	70' SF	$1,303.44	$1,383.60	
	
Preserve	33' Villia	$748.04	$828.21	
	
	50' SF	$1,003.23	$1,083.39	

Town Center	Town Center Multi Family (3 BDR)	$633.90	$615.63	
	
	Town Center Multi Family (2 BDR)	$588.82	$575.83	
	
	Town Center (Thomas 167)	$15,009.34	$13,310.14	

Undeveloped Land In Unit 1 Only	Per Half Acre
or Less	$209.44	$240.81	

Undeveloped Land In Unit 2 (not in Unit 3)	Per Half Acre
or Less	$209.44	$240.81	

Undeveloped Land In Unit 3	Per Half Acre
or Less	$209.44	$240.81	

Undeveloped Land In Unit 4	Per Half Acre
or Less	$209.44	$240.81