West Villages Improvement District

Amended Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

WEST VILLAGES IMPROVEMT DISTRICT
FY 2024/2025 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

Amended Final Operating Fund Budget - Unit 8

9

Amended Final Operating Fund Budget - Unit 9

10

Amended Final Operating Fund Budget - Unit 10

11

Amended Final Operating Fund Budget - Unit 11

12

Amended Final Operating Fund Budget - Unit 12

13

Amended Final Operating Fund Budget - Unit 13

14

Debt Service

Amended Final Debt Service Fund Budget - Unit 1

15

Amended Final Debt Service Fund Budget - Unit 2

16

Amended Final Debt Service Fund Budget - Unit 3

17

Amended Final Debt Service Fund Budget - Unit 4

18

Amended Final Debt Service Fund Budget - Baseball Stadium

19

Amended Final Debt Service Fund Budget - Unit 7 (Series 2019 Master & Village B)

20

Amended Final Debt Service Fund Budget - Unit 7 (Series 2021, 2023, 2025)

21

Amended Final Debt Service Fund Budget - Unit 8 (Master & Neighborhood)

22

Amended Final Debt Service Fund Budget - Unit 9 (Series 2023)

23

Amended Final Debt Service Fund Budget - Unit 10 (Series 2024)

24

Amended Final Debt Service Fund Budget - Unit 11 (2025)

25

Amended Final Debt Service Fund Budget - Unit 12 (Series 2025)

26

Amended Final Debt Service Fund Budget - Unit 13 (Series 2025)

27

AMENDED FINAL BUDGET COMPARISON - ALL UNITS
WEST VILLAGES IMPROVEMENT DISTRICT

FISCAL YEAR 2024/2025 ANNUAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL
10/1/24 - 9/29/25

REVENUES

5,316,455
672,035
11,386,446
7,166,311
36,000
56,672
0
0
0
0

8,750,102
593,785
10,104,275
5,548,380
1,015,985
233,496
4,514,696
243,133
(243,133)
0

8,750,102
593,785
10,104,275
5,548,380
1,015,985
233,496
4,514,696
243,133
(243,133)
0

O & M ASSESSMENTS
O & M ASSESSMENTS - DIRECT BILL DEBT ASSESSMENTS
DEBT DIRECT BILL
INTEREST INCOME / OTHER REVENUE DEVELOPER CONTRIBUTION
OTHER REVENUES - IMPACT / EQUIP / CAPITAL
BOND PREPAYMENTS

BOND PREPAYMENTS TO TRUSTEE
CARRY OVER FUNDS / FUND BALANCE

$

24,633,918

$

30,760,719

$

30,760,719

Total Revenues

EXPENDITURES

0
4,399,739
0
0
0
20,000
167,000
194,535
187,000
223,000
22,000
33,500
11,000
15,000
125,000
5,000
66,800
3,000
15,000
60,100
6,000
8,500
175,000
25,000

0
4,945,000
7,200,000
500,000
1,500,000
25,000
540,500
206,410
202,750
447,000
22,000
28,500
11,500
35,000
185,000
20,000
110,500
9,500
111,000
69,250
6,500
9,000
120,000
600,000

0
4,547,908
6,828,043
0
785,123
22,346
462,282
203,878
199,083
360,701
22,000
27,405
7,150
28,293
181,871
16,872
95,477
7,157
105,816
60,613
6,500
8,000
97,204
588,682

BASEBALL FACILITY EXPENSES INFRASTRUCTURE MAINTENANCE IMPACT FEE POJECTS
ROAD RESURFACE ROAD WIDENING GIS PROJECT ENGINEERING MANAGEMENT
OPERATIONS ADMINISTRATION LEGAL
ASSESSMENT ROLL AUDIT FEES
ARBITRAGE REBATE FEE RENTS & LEASES INSURANCE
LEGAL ADVERTISING MISCELLANEOUS POSTAGE
OFFICE SUPPLIES TRUSTEE FEES WEBSITE
CONTINUING DISCLOSURE FEE COMMONA AREA IRRIGATION WATER
CONTINGENCY / CAPITAL OUTLAY / EQIPMENT

$

5,762,174

$

16,904,410

$

14,662,403

Total Expenditures

$

18,871,744

$

13,856,309

$

16,098,316

EXCESS OR (SHORTFALL)

(17,869,570)

(15,161,217)

(15,161,217)

DEBT PAYMENT TO TRUSTEE (ALL UNITS)

$

1,002,175

$

(1,304,909)

$

937,098

BALANCE

(334,060)
(668,115)

(273,114)
(525,004)

(273,114)
(525,004)

COUNTY APPRAISER & TAX COLLECTOR FEE
DISCOUNTS FOR EARLY PAYMENTS

$

-

$

(2,103,026)

$

138,981

NET EXCESS/SHORTFALL

1

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT DISTRICT PROPER
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL
10/1/24 - 9/29/25

REVENUES

426,777
24,330
0
0
1,000
0
0
0
0
0
452,107

502,439
4,459
0
0
303,751
0
34,474
0
0
0
845,123

502,439
4,459
0
0
303,751
0
34,474
0
0
0
845,123

O & M ASSESSMENTS O & M DIRECT BILL DEBT ASSESSMENTS DEBT DIRECT BILL INTEREST INCOME
DEVELOPER CONTRIBUTION OTHER REVENUES
OTHER REVENUES - TRANSPORT IMPACT OTHER REVENUES - EQUIPMENT PURCHASE
CARRY OVER FUNDS / FUND BALANCE

$

$

$

Total Revenues

EXPENDITURES

20,000
25,000
76,000
40,000
60,000
10,000
6,500
0
15,000
125,000
5,000
5,000
3,000
5,000
0
6,000
0
25,000
426,500

25,000
55,000
76,000
40,000
325,000
10,000
6,000
0
35,000
185,000
20,000
50,000
8,000
110,000
0
6,500
0
0
951,500

22,346
46,796
73,465
36,333
298,948
10,000
5,320
0
28,293
181,871
16,872
44,143
5,988
105,816
0
6,500
0
0
882,691

GIS PROJECT ENGINEERING MANAGEMENT
OPERATIONS ADMINISTRATION LEGAL
ASSESSMENT ROLL ANNUAL AUDIT ARBITRAGE REBATE FEE RENTS & LEASES INSURANCE
LEGAL ADVERTISING MISCELLANEOUS POSTAGE
OFFICE SUPPLIES/ MARKETING
TRUSTEE FEES WEBSITE
CONTINUING DISCLOSURE FEE CAPITAL OUTLAY

$

$

$

Total Expenditures

$

25,607

$

(106,377)

$

(37,567)

EXCESS OR (SHORTFALL)

PAYMENT TO TRUSTEE

-

-

-

$

25,607

$

(106,377)

$

(37,567)

BALANCE

(8,536)
(17,071)

(7,297)
(14,498)

(7,297)
(14,498)

COUNTY APPRAISER & TAX COLLECTOR FEE
DISCOUNTS FOR EARLY PAYMENTS

$

-

$

(128,172)

$

(59,362)

NET EXCESS/SHORTFALL

2

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT ONE
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL 10/1/24 - 9/29/25

REVENUES

3,891,034
0
2,525,526
0
35,000
0
0
0
0
0
0
6,451,559

4,510,498
0
2,491,810
0
337,447
166,824
170,338
(170,338)
3,944,328
570,368
0
12,021,274

4,510,498
0
2,491,810
0
337,447
166,824
170,338
(170,338)
3,944,328
570,368
0
12,021,274

O & M ASSESSMENTS O & M DIRECT BILL DEBT ASSESSMENTS DEBT DIRECT BILL
INTEREST / OTHER INCOMES DEVELOPER CONTRIBUTION BOND PREPAYMENTS
BOND PREPAYMENTS TO TRUSTEE
OTHER REVENUES - TRANSPORT IMPACT OTHER REVENUES - EQUIP PUR REIMB CARRY OVER FUNDS / FUND BALANCE

$

$

$

Total Revenues

EXPENDITURES

3,322,367
0
0
0
0
60,000
12,005
50,000
50,000
1,500
3,000
1,500
0
0
0
1,700
0
10,000
5,000
0
500
175,000
0
3,692,572

3,800,000
7,200,000
500,000
1,500,000
0
150,000
13,005
56,667
50,000
1,500
2,500
1,500
0
0
0
15,000
0
1,000
5,000
0
500
120,000
600,000
14,016,672

3,513,306
6,828,043
0
785,123
0
129,700
13,005
56,667
37,813
1,500
2,454
650
0
0
0
12,331
0
0
4,246
0
500
97,204
588,682
12,071,223

INFRASTRUCTURE MAINTENANCE
IMPACT FEE PROJECTS ROAD RESURFACE ROAD WIDENING GIS PROJECT ENGINEERING MANAGEMENT
OPERATIONS ADMINISTRATION LEGAL
ASSESSMENT ROLL AUDIT FEES
ARBITRAGE REBATE FEE RENTS & LEASES INSURANCE
LEGAL ADVERTISING MISCELLANEOUS POSTAGE
OFFICE SUPPLIES TRUSTEE FEES WEBSITE
CONTINUING DISCLOSURE FEE COMMONA AREA IRRIGATION WATER CONSTRUCTION COST / EQUIP PUR

$

$

$

Total Expenditures

$

2,758,988

$

(1,995,398)

$

(49,949)

EXCESS OR (SHORTFALL)

(2,373,994)

(2,370,616)

(2,370,616)

PAYMENT TO TRUSTEE

$

384,994

$

(4,366,014)

$

(2,420,565)

BALANCE

(128,332)
(256,662)

(100,517)
(216,618)

(100,517)
(216,618)

COUNTY APPRAISER & TAX COLLECTOR FEE
DISCOUNTS FOR EARLY PAYMENTS

$

-

$

(4,683,149)

$

(2,737,700)

NET EXCESS/SHORTFALL

3

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT TWO
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL 10/1/24 - 9/29/25

REVENUES

53,410
0
2,703,324
0
0
0
0
0
0
0
2,756,734

2,788,198
0
1,441,218
0
0
0
0
6,154
(6,154)
0
4,229,416

2,788,198
0
1,441,218
0
0
0
0
6,154
(6,154)
0
4,229,416

O & M ASSESSMENTS O & M DIRECT BILL DEBT ASSESSMENTS DEBT DIRECT BILL INTEREST
DEVELOPER CONTRIBUTION OTHER REVENUES
BOND PREPAYMENTS
BOND PREPAYMENTS TO TRUSTEE
CARRY OVER FUNDS / FUND BALANCE

$

$

$

Total Revenues

EXPENDITURES

0
2,000
12,005
12,000
10,000
1,500
3,000
1,500
0
0
0
1,700
0
0
5,000
1,500
0
0
50,205

0
175,000
13,005
13,000
12,000
1,500
2,500
1,500
0
0
0
1,000
0
0
5,000
2,000
0
0
226,505

0
154,267
13,005
13,000
9,099
1,500
2,454
1,300
0
0
0
0
0
0
4,849
2,000
0
0
201,473

INFRASTRUCTURE MAINTENANCE ENGINEERING
MANAGEMENT
OPERATIONS ADMINISTRATION LEGAL
ASSESSMENT ROLL AUDIT FEES
ARBITRAGE REBATE FEE RENTS & LEASES INSURANCE
LEGAL ADVERTISING MISCELLANEOUS POSTAGE
OFFICE SUPPLIES TRUSTEE FEES
CONTINUING DISCLOSURE FEE WEBSITE
CAPITAL OUTLAY / CONTINGENCY

$

$

$

Total Expenditures

$

2,706,529

$

4,002,911

$

4,027,942

EXCESS OR (SHORTFALL)

(2,541,124)

(1,371,122)

(1,371,122)

PAYMENT TO TRUSTEE

$

165,405

$

2,631,789

$

2,656,821

BALANCE

(55,136)
(110,269)

(62,595)
(50,329)

(62,595)
(50,329)

COUNTY APPRAISER & TAX COLLECTOR FEE
DISCOUNTS FOR EARLY PAYMENTS

$

-

$

2,518,866

$

2,543,897

NET EXCESS/SHORTFALL

4

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT THREE
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL 10/1/24 - 9/29/25

REVENUES

472,819
0
1,350,786
0
0
0
0
0
0
0
0
1,823,605

474,329
0
1,351,437
0
36,237
0
297,077
14,284
(14,284)
0
0
2,159,080

474,329
0
1,351,437
0
36,237
0
297,077
14,284
(14,284)
0
0
2,159,080

O & M ASSESSMENTS O & M DIRECT BILL DEBT ASSESSMENTS DEBT DIRECT BILL INTEREST
DEVELOPER CONTRIBUTION OTHER REVENUES
BOND PREPAYMENTS
BOND PREPAYMENTS TO TRUSTEE OTHER REVENUES - CAPITAL CARRY OVER FUNDS / FUND BALANCE

$

$

$

Total Revenues

EXPENDITURES

325,000
25,000
22,500
25,000
35,000
1,500
3,000
1,500
0
0
0
1,700
0
0
3,750
500
0
0
444,450

400,000
75,000
24,375
27,083
15,000
1,500
2,500
1,500
0
0
0
1,500
1,500
0
3,750
500
0
0
554,208

366,438
67,303
24,375
27,083
3,062
1,500
2,454
650
0
0
0
1,006
1,169
0
0
500
0
0
495,540

INFRASTRUCTURE MAINTENANCE ENGINEERING
MANAGEMENT
OPERATIONS ADMINISTRATION LEGAL
ASSESSMENT ROLL AUDIT FEES
ARBITRAGE REBATE FEE RENTS & LEASES INSURANCE
LEGAL ADVERTISING MISCELLANEOUS POSTAGE
OFFICE SUPPLIES TRUSTEE FEES
CONTINUING DISCLOSURE FEE WEBSITE
UNIT 3 FUND REIMBURSEMENT

$

$

$

Total Expenditures

$

1,379,155

$

1,604,872

$

1,663,540

EXCESS OR (SHORTFALL)

(1,269,739)

(1,285,707)

(1,285,707)

PAYMENT TO TRUSTEE

$

109,416

$

319,165

$

377,833

BALANCE

(36,472)
(72,944)

(26,336)
(62,453)

(26,336)
(62,453)

COUNTY APPRAISER & TAX COLLECTOR FEE
DISCOUNTS FOR EARLY PAYMENTS

$

-

$

230,376

$

289,044

NET EXCESS/SHORTFALL

5

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT FOUR
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL 10/1/24 - 9/29/25

REVENUES

101,338
-1,553
866,319
23,326
0
0
0
0
0
989,431

100,904
0
867,881
0
0
0
0
0
0
968,785

100,904
0
867,881
0
0
0
0
0
0
968,785

O & M ASSESSMENTS O & M DIRECT BILL DEBT ASSESSMENTS DEBT DIRECT BILL INTEREST
DEVELOPER CONTRIBUTION OTHER REVENUES
OTHER REVENUES - CAPITAL
CARRY OVER FUNDS / FUND BALANCE

$

$

$

Total Revenues

EXPENDITURES

42,250
2,500
12,005
12,000
13,000
1,500
3,000
1,500
0
0
0
1,700
0
0
3,750
500
0
0
93,705

45,000
6,000
13,005
13,000
5,000
1,500
2,500
1,500
0
0
0
1,000
0
0
4,500
500
0
0
93,505

38,272
5,449
13,005
13,000
1,330
1,500
2,454
650
0
0
0
0
0
0
4,246
500
0
0
80,407

INFRASTRUCTURE MAINTENANCE ENGINEERING
MANAGEMENT
OPERATIONS ADMINISTRATION LEGAL
ASSESSMENT ROLL AUDIT FEES
ARBITRAGE REBATE FEE RENTS & LEASES INSURANCE
LEGAL ADVERTISING MISCELLANEOUS POSTAGE
OFFICE SUPPLIES TRUSTEE FEES
CONTINUING DISCLOSURE FEE WEBSITE
CONTINGENCY / PREV SHORTFALL

$

$

$

Total Expenditures

$

895,726

$

875,280

$

888,378

EXCESS OR (SHORTFALL)

(837,666)

(825,670)

(825,670)

PAYMENT TO TRUSTEE

$

58,059

$

49,610

$

62,708

BALANCE

(19,353)
(38,706)

(13,974)
(33,139)

(13,974)
(33,139)

COUNTY APPRAISER & TAX COLLECTOR FEE
DISCOUNTS FOR EARLY PAYMENTS

$

-

$

2,496

$

15,595

NET EXCESS/SHORTFALL

6

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT FIVE
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL 10/1/24 - 9/29/25

REVENUES

0
0
0
3,625,720
0
56,672
0
0
3,682,392

0
0
0
3,588,592
0
61,672
0
0
3,650,264

0
0
0
3,588,592
0
61,672
0
0
3,650,264

O & M ASSESSMENTS O & M DIRECT BILL DEBT ASSESSMENTS DEBT DIRECT BILL INTEREST
DEVELOPER CONTRIBUTION OTHER REVENUES
CARRY OVER FUNDS / FUND BALANCE

$

$

$

Total Revenues

EXPENDITURES

0
2,072
2,500
12,000
0
0
0
3,000
0
0
0
0
30,000
0
0
800
4,800
1,500
0
0
56,672

0
5,000
2,500
13,000
0
0
0
2,500
0
0
0
0
35,000
0
0
0
6,000
1,500
0
0
65,500

0
3,028
1,630
13,000
0
0
0
2,454
0
0
0
0
35,000
0
0
0
5,507
1,500
0
0
62,119

BASEBALL FACILITY EXPENSES INFRASTRUCTURE MAINTENANCE ENGINEERING
MANAGEMENT
OPERATIONS ADMINISTRATION LEGAL
ASSESSMENT ROLL AUDIT FEES
ARBITRAGE REBATE FEE RENTS & LEASES INSURANCE
LEGAL ADVERTISING MISCELLANEOUS POSTAGE
OFFICE SUPPLIES TRUSTEE FEES - NOTE TRUSTEE FEES - BONDS
CONTINUING DISCLOSURE FEE WEBSITE
CONTINGENCY / PREV SHORTFALL

$

$

$

Total Expenditures

$

3,625,720

$

3,584,764

$

3,588,145

EXCESS OR (SHORTFALL)

(3,625,720)

(3,588,592)

(3,588,592)

PAYMENT TO TRUSTEE

$

-

$

(3,828)

$

(447)

BALANCE

0
0

0
0

0
0

COUNTY APPRAISER & TAX COLLECTOR FEE
DISCOUNTS FOR EARLY PAYMENTS

$

-

$

(3,828)

$

(447)

NET EXCESS/SHORTFALL

7

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT SEVEN
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL 10/1/24 - 9/29/25

REVENUES

197,904
113,476
2,136,991
851,942
0
0
0
0
0
0
3,300,313

198,698
91,872
2,146,864
31,421
0
0
3,500
22,392
(22,392)
0
2,472,355

198,698
91,872
2,146,864
31,421
0
0
3,500
22,392
(22,392)
0
2,472,355

O & M ASSESSMENTS O & M DIRECT BILL DEBT ASSESSMENTS DEBT DIRECT BILL INTEREST
DEVELOPER FUNDING - WWTP OTHER REVENUES
BOND PREPAYMENTS
BOND PREPAYMENTS TO TRUSTEE
CARRY OVER FUNDS / FUND BALANCE

$

$

$

Total Revenues

EXPENDITURES

205,500
20,000
12,005
12,000
20,000
1,500
3,000
1,500
0
0
0
5,000
0
0
17,000
2,000
0
0
299,505

200,000
25,000
13,005
13,000
10,000
1,500
2,500
2,000
0
0
0
1,000
0
0
25,000
2,000
0
0
295,005

166,888
23,017
13,005
13,000
3,236
1,500
2,454
1,950
0
0
0
97
0
0
24,780
1,000
0
0
250,926

INFRASTRUCTURE MAINTENANCE ENGINEERING
MANAGEMENT
OPERATIONS ADMINISTRATION LEGAL
ASSESSMENT ROLL AUDIT FEES
ARBITRAGE REBATE FEE RENTS & LEASES INSURANCE
LEGAL ADVERTISING MISCELLANEOUS POSTAGE
OFFICE SUPPLIES TRUSTEE FEES
CONTINUING DISCLOSURE FEE WEBSITE
CONTINGENCY / PREV SHORTFALL

$

$

$

Total Expenditures

$

3,000,808

$

2,177,350

$

2,221,429

EXCESS OR (SHORTFALL)

(2,860,714)

(2,073,869)

(2,073,869)

PAYMENT TO TRUSTEE

$

140,094

$

103,481

$

147,560

BALANCE

(46,698)
(93,396)

(33,833)
(80,234)

(33,833)
(80,234)

COUNTY APPRAISER & TAX COLLECTOR FEE
DISCOUNTS FOR EARLY PAYMENTS

$

-

$

(10,587)

$

33,492

NET EXCESS/SHORTFALL

8

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT EIGHT
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL 10/1/24 - 9/29/25

REVENUES

57,415
79,535
950,989
983,643
0
0
0
0
0
2,071,582

58,380
79,535
951,361
918,050
0
0
3,500
0
0
2,010,827

58,380
79,535
951,361
918,050
0
0
3,500
0
0
2,010,827

O & M ASSESSMENTS O & M DIRECT BILL DEBT ASSESSMENTS DEBT DIRECT BILL INTEREST DEVELOPER FUNDING OTHER REVENUES
OTHER REVENUES - CAPITAL
CARRY OVER FUNDS / FUND BALANCE

$

$

$

Total Revenues

EXPENDITURES

47,500
20,000
12,005
12,000
15,000
1,500
3,000
1,500
0
0
0
10,000
0
0
10,000
1,000
0
0
133,505

45,000
15,000
13,005
13,000
10,000
1,500
2,500
1,500
0
0
0
1,000
0
0
10,000
1,000
0
0
113,505

35,000
13,455
13,005
13,000
3,243
1,500
2,454
650
0
0
0
0
0
0
8,493
1,000
0
0
91,799

INFRASTRUCTURE MAINTENANCE ENGINEERING
MANAGEMENT
OPERATIONS ADMINISTRATION LEGAL
ASSESSMENT ROLL AUDIT FEES
ARBITRAGE REBATE FEE RENTS & LEASES INSURANCE
LEGAL ADVERTISING MISCELLANEOUS POSTAGE
OFFICE SUPPLIES TRUSTEE FEES
CONTINUING DISCLOSURE FEE WEBSITE
CONTINGENCY / PREV SHORTFALL

$

$

$

Total Expenditures

$

1,938,077

$

1,897,322

$

1,919,028

EXCESS OR (SHORTFALL)

(1,877,572)

(1,823,141)

(1,823,141)

PAYMENT TO TRUSTEE

$

60,505

$

74,181

$

95,887

BALANCE

(20,169)
(40,336)

(14,565)
(34,540)

(14,565)
(34,540)

COUNTY APPRAISER & TAX COLLECTOR FEE
DISCOUNTS FOR EARLY PAYMENTS

$

-

$

25,076

$

46,782

NET EXCESS/SHORTFALL

9

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT NINE
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL 10/1/24 - 9/29/25

REVENUES

115,758
102,192
852,511
366,108
0
0
0
0
0
0
0
1,436,569

116,655
100,334
853,705
141,702
0
0
0
29,964
(29,964)
0
0
1,212,396

116,655
100,334
853,705
141,702
0
0
0
29,964
(29,964)
0
0
1,212,396

O & M ASSESSMENTS O & M DIRECT BILL DEBT ASSESSMENTS DEBT DIRECT BILL INTEREST DEVELOPER FUNDING OTHER REVENUES BOND PREPAYMENTS
BOND PREPAYMENTS TO TRUSTEE OTHER REVENUES - CAPITAL CARRY OVER FUNDS / FUND BALANCE

$

$

$

Total Revenues

EXPENDITURES

156,000
5,000
12,005
12,000
10,000
1,500
3,000
1,000
0
0
0
5,000
0
0
5,000
500
0
0
211,005

150,000
10,000
13,005
13,000
5,000
1,500
2,500
1,000
0
0
0
1,000
0
0
5,000
500
0
0
202,505

138,177
5,230
13,005
13,000
0
1,500
2,454
650
0
0
0
250
0
0
4,246
500
0
0
179,012

INFRASTRUCTURE MAINTENANCE ENGINEERING
MANAGEMENT OPERATIONS MANAGER LEGAL
ASSESSMENT ROLL AUDIT FEES
ARBITRAGE REBATE FEE RENTS & LEASES INSURANCE
LEGAL ADVERTISING MISCELLANEOUS POSTAGE
OFFICE SUPPLIES TRUSTEE FEES
CONTINUING DISCLOSURE FEE WEBSITE
CONTINGENCY / PREV SHORTFALL

$

$

$

Total Expenditures

$

1,225,564

$

1,009,891

$

1,033,384

EXCESS OR (SHORTFALL)

(1,167,469)

(953,886)

(953,886)

PAYMENT TO TRUSTEE

$

58,095

$

56,005

$

79,498

BALANCE

(19,364)
(38,731)

(13,997)
(33,193)

(13,997)
(33,193)

COUNTY APPRAISER & TAX COLLECTOR FEE
DISCOUNTS FOR EARLY PAYMENTS

$

-

$

8,815

$

32,308

NET EXCESS/SHORTFALL

10

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT TEN
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL 10/1/24 - 9/29/25

REVENUES

0
354,055
0
1,315,571
0
0
0
0
0
1,669,626

0
317,584
0
783,700
0
0
0
0
0
1,101,284

0
317,584
0
783,700
0
0
0
0
0
1,101,284

O & M ASSESSMENTS O & M DIRECT BILL DEBT ASSESSMENTS DEBT DIRECT BILL INTEREST DEVELOPER FUNDING OTHER REVENUES
OTHER REVENUES - CAPITAL
CARRY OVER FUNDS / FUND BALANCE

$

$

$

Total Revenues

EXPENDITURES

299,050
5,000
12,005
12,000
10,000
1,500
3,000
1,000
0
0
0
5,000
0
0
5,000
500
0
0
354,055

300,000
10,000
13,005
12,000
5,000
1,500
2,500
1,000
0
0
0
4,000
0
0
5,000
500
0
0
354,505

286,800
6,387
13,005
12,000
805
1,500
2,454
650
0
0
0
2,650
0
0
4,246
500
0
0
330,997

INFRASTRUCTURE MAINTENANCE ENGINEERING
MANAGEMENT OPERATIONS MANAGER LEGAL
ASSESSMENT ROLL AUDIT FEES
ARBITRAGE REBATE FEE RENTS & LEASES INSURANCE
LEGAL ADVERTISING MISCELLANEOUS POSTAGE
OFFICE SUPPLIES TRUSTEE FEES
CONTINUING DISCLOSURE FEE WEBSITE
CONTINGENCY / PREV SHORTFALL

$

$

$

Total Expenditures

$

1,315,571

$

746,779

$

770,287

EXCESS OR (SHORTFALL)

(1,315,571)

(783,700)

(783,700)

PAYMENT TO TRUSTEE

$

-

$

(36,921)

$

(13,413)

BALANCE

-
-

-
-

-
-

COUNTY APPRAISER & TAX COLLECTOR FEE
DISCOUNTS FOR EARLY PAYMENTS

$

-

$

(36,921)

$

(13,413)

NET EXCESS/SHORTFALL

11

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT ELEVEN
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL 10/1/24 - 9/29/25

REVENUES

0
0
0
0
0
0
0
0
0

0
0
0
0
0
2,500
0
0
0
2,500

0
0
0
0
0
2,500
0
0
0
2,500

O & M ASSESSMENTS O & M DIRECT BILL DEBT ASSESSMENTS DEBT DIRECT BILL INTEREST DEVELOPER FUNDING OTHER REVENUES
OTHER REVENUES - CAPITAL
CARRY OVER FUNDS / FUND BALANCE

$

-

$

$

Total Revenues

EXPENDITURES

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

0
12,000
1,000
1,000
5,000
0
0
0
0
0
0
0
0
0
0
0
0
0
19,000

0
9,050
1,000
1,000
524
0
0
0
0
0
0
0
0
0
0
0
0
0
11,575

INFRASTRUCTURE MAINTENANCE ENGINEERING
MANAGEMENT OPERATIONS MANAGER LEGAL
ASSESSMENT ROLL AUDIT FEES
ARBITRAGE REBATE FEE RENTS & LEASES INSURANCE
LEGAL ADVERTISING MISCELLANEOUS POSTAGE
OFFICE SUPPLIES TRUSTEE FEES
CONTINUING DISCLOSURE FEE WEBSITE
CONTINGENCY / PREV SHORTFALL

$

-

$

$

Total Expenditures

$

-

$

(16,500)

$

(9,075)

EXCESS OR (SHORTFALL)

-

-

-

PAYMENT TO TRUSTEE

$

-

$

(16,500)

$

(9,075)

BALANCE

-
-

-
-

-
-

COUNTY APPRAISER & TAX COLLECTOR FEE
DISCOUNTS FOR EARLY PAYMENTS

$

-

$

(16,500)

$

(9,075)

NET EXCESS/SHORTFALL

12

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT TWELVE
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL 10/1/24 - 9/29/25

REVENUES

0
0
0
0
0
0
0
0
0

0
0
0
84,915
0
2,500
0
0
0
87,415

0
0
0
84,915
0
2,500
0
0
0
87,415

O & M ASSESSMENTS O & M DIRECT BILL DEBT ASSESSMENTS DEBT DIRECT BILL INTEREST DEVELOPER FUNDING OTHER REVENUES
OTHER REVENUES - CAPITAL
CARRY OVER FUNDS / FUND BALANCE

$

-

$

$

Total Revenues

EXPENDITURES

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

0
2,000
1,000
1,000
2,000
0
0
0
0
0
0
0
0
0
0
0
0
0
6,000

0
0
1,000
1,000
663
0
0
0
0
0
0
0
0
0
0
0
0
0
2,663

INFRASTRUCTURE MAINTENANCE ENGINEERING
MANAGEMENT OPERATIONS MANAGER LEGAL
ASSESSMENT ROLL AUDIT FEES
ARBITRAGE REBATE FEE RENTS & LEASES INSURANCE
LEGAL ADVERTISING MISCELLANEOUS POSTAGE
OFFICE SUPPLIES TRUSTEE FEES
CONTINUING DISCLOSURE FEE WEBSITE
CONTINGENCY / PREV SHORTFALL

$

-

$

$

Total Expenditures

$

-

$

81,415

$

84,752

EXCESS OR (SHORTFALL)

-

(84,915)

(84,915)

PAYMENT TO TRUSTEE

$

-

$

(3,500)

$

(163)

BALANCE

-
-

-
-

-
-

COUNTY APPRAISER & TAX COLLECTOR FEE
DISCOUNTS FOR EARLY PAYMENTS

$

-

$

(3,500)

$

(163)

NET EXCESS/SHORTFALL

13

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT THIRTEEN
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET 10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL 10/1/24 - 9/29/25

REVENUES

0
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0

O & M ASSESSMENTS O & M DIRECT BILL DEBT ASSESSMENTS DEBT DIRECT BILL INTEREST DEVELOPER FUNDING OTHER REVENUES
OTHER REVENUES - CAPITAL
CARRY OVER FUNDS / FUND BALANCE

$

-

$

-

$

-

Total Revenues

EXPENDITURES

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

0
3,000
0
0
3,000
0
0
0
0
0
0
0
0
0
0
0
0
0
6,000

0
0
0
0
1,978
0
0
0
0
0
0
0
0
0
0
0
0
0
1,978

INFRASTRUCTURE MAINTENANCE ENGINEERING
MANAGEMENT OPERATIONS MANAGER LEGAL
ASSESSMENT ROLL AUDIT FEES
ARBITRAGE REBATE FEE RENTS & LEASES INSURANCE
LEGAL ADVERTISING MISCELLANEOUS POSTAGE
OFFICE SUPPLIES TRUSTEE FEES
CONTINUING DISCLOSURE FEE WEBSITE
CONTINGENCY / PREV SHORTFALL

$

-

$

$

Total Expenditures

$

-

$

(6,000)

$

(1,978)

EXCESS OR (SHORTFALL)

-

-

-

PAYMENT TO TRUSTEE

$

-

$

(6,000)

$

(1,978)

BALANCE

-
-

-
-

-
-

COUNTY APPRAISER & TAX COLLECTOR FEE
DISCOUNTS FOR EARLY PAYMENTS

$

-

$

(6,000)

$

(1,978)

NET EXCESS/SHORTFALL

14

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT 1 DEBT SERVICE FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL
10/1/24 - 9/29/25

 REVENUES	
Interest Income
 Debt Collections	
 Total Revenues	

0
2,373,994

58,534
2,538,399

58,534
2,538,399

$

2,373,994

$

2,596,933

$

2,596,933

 EXPENDITURES	
Principal Payments Interest Payments
 Miscellaneous	
 Total Expenditures	

1,300,000
1,073,994
0

1,465,000
1,101,852
0

1,465,000
1,101,852
0

$

2,373,994

$

2,566,852

$

2,566,852

 Excess/Shortfall	

$

-

$

30,081

$

30,081

Notes
Reserve Fund Balances = $400,000*. Revenue Fund Balance = $667,942*. Revenue Fund Balance To Be Used To Make 11/1/2025 Interest Payment
* Approximate Amounts
Revenue Fund Balance Is As Of 9/30/25.

Series 2017 Bond Refunding Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$32,165,000 3.5% - 4.625%
August 2017
May 2038

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$23,085,000

15

$1,037,861

$30,081

$1,067,942

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT 2 DEBT SERVICE FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL
10/1/24 - 9/29/25

 REVENUES	
Interest Income
Debt Collections (2019A-1) Debt Collections (2019A-2)
 Prepaid Debt Collections (2019A-1)	
 Total Revenues	

0
1,353,018
1,188,107
0

32,998
1,371,122
0
6,154

32,998
1,371,122
0
6,154

$

2,541,125

$

1,410,273

$

1,410,273

 EXPENDITURES	
Principal Payments (2019A-1) Principal Payments (2019A-2) Interest Payments (2019A-1) Interest Payments (2019A-2)
Miscellaneous - Bond Redemption (2019A-1)
 Miscellaneous - Bond Redemption (2019A-2)	
 Total Expenditures	

680,000
610,000
644,000
573,275
29,018
4,832

680,000
0
663,550
0
0
0

680,000
0
663,550
0
0
0

$

2,541,125

$

1,343,550

$

1,343,550

 Excess/Shortfall	

$

(0)

$

66,723

$

66,723

Notes
West Villages Unit 2 Series 2005 Bonds Were Bifurcated Into Performing (2019A-1) And Non Performing (2019A-2) Bonds.
Reserve Account Balances = $201,000* Revenue Account Balances = $504,464*
Revenue Account Balances To Be Used To Make 11/1/2025 2019A-1 Interest Payment

* Approximate Amounts

Series 2019A-1 (Performing) Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$15,190,000 5.75%
October 2019
May 2036

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$10,860,000

Series 2019A-2 (Non Performing) Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$12,830,000 5.75%
October 2019
May 2036

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$12,830,000

16

$638,741

$66,723

$705,464

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT 3 DEBT SERVICE FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL
10/1/24 - 9/29/25

 REVENUES	
Interest Income Debt Collections
Payment By Developer
 Prepaid Debt Collections	
 Total Revenues	

0
1,269,739
0
0

26,715
1,285,707
0
14,284

26,715
1,285,707
0
14,284

$

1,269,739

$

1,326,706

$

1,326,706

 EXPENDITURES	
Principal Payments Interest Payments
 Miscellaneous / Extra Redemption	
 Total Expenditures	

700,000
549,610
20,129

700,000
563,610
0

700,000
563,610
0

$

1,269,739

$

1,263,610

$

1,263,610

 Excess/Shortfall	

$

-

$

63,096

$

63,096

Notes
Reserve Fund Balance = $100,000*. Revenue Fund Balance = $440,811*. Prepayment Account Balance = $17,573*.
Revenue Fund Balance To Be Used To Make 11/1/2025 Interest Payment

* Approximate Amounts

Series 2017 Bond Refunding Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$16,550,000 3.5% - 5%
August 2017
May 2037

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$11,345,000

17

$495,288

$63,096

$558,384

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT 4 DEBT SERVICE FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL
10/1/24 - 9/29/25

 REVENUES	
Interest Income Debt Collections
Payment By Developer
 Prepaid Debt Collections	
 Total Revenues	

0
837,666
0
0

48,819
825,670
0
0

48,819
825,670
0
0

$

837,666

$

874,489

$

874,489

 EXPENDITURES	
Principal Payments Interest Payments
 Miscellaneous	
 Total Expenditures	

295,000
537,875
4,791

285,000
543,931
0

285,000
543,931
0

$

837,666

$

828,931

$

828,931

 Excess/Shortfall	

$

0

$

45,557

$

45,557

Notes
Reserve Fund Balance = $586,014*. Revenue Fund Balance = $673,200*. Prepayment Account Fund Balance = $3,953*.
Revenue Fund Balance To Be Used To Make 11/1/2021 Principal & Interest Payment

* Approximate Amounts - Revenue Account Balance Is As of 9/30/25.

Series 2016 Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$13,090,000 3.375% - 5%
November 2016
November 2046

Annual Principal Payment Due = November 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$11,050,000

18

$1,217,610

$45,557

$1,263,167

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT BASEBALL STADIUM DEBT SERVICE FUND FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL
10/1/24 - 9/29/25

 REVENUES	
Interest Income (Bonds) Interest Income (Notes)
State Of Florida Pledged Revenues (Bonds)
 Payment By Atlanta Braves (Notes)	
 Total Revenues	

0
0
1,000,000
2,625,720

18,582
250,297
999,996
2,588,596

18,582
250,297
999,996
2,588,596

$

3,625,720

$

3,857,472

$

3,857,472

 EXPENDITURES	
Principal Payments (Bonds) Interest Payments (Bonds) Principal Payments (Notes) Interest Payments (Notes)
 Other/Extra Redemption	
 Total Expenditures	

610,000
387,093
1,581,429
1,007,167
40,032

610,000
387,093
1,581,429
1,007,167
0

610,000
387,093
1,581,429
1,007,167
0

$

3,625,721

$

3,585,689

$

3,585,689

 Excess/Shortfall	

$

(1)

$

271,782

$

271,782

Bonds

Notes

Notes
Bond Service Fund Balance = $85,031*. Bond Revenue Fund Balance = $259,445*. Bond Service Fund Balance And October 2024 Through January 2025 State Of Florida Pledged Revenues To Be Used To Make 2/1/2025 Principal & Interest Payment

Note Reserve Fund Balance = $4,755,621*. Note Revenue Fund Balance = $1,403,405*.
Revenue Fund Balance To Be Used To Make 12/30/2025 Principal & Interest Payment

* Approximate Amounts

Series 2017A Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$13,955,000 3.72%
December 2017
February 2038

Annual Principal Payment Due = February 1st & August 1st Annual Interest Payments Due =
February 1st & August 1st

Par Amount As Of 9/30/25 =

$9,840,000

Series 2017B Notes Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$27,500,000 5.39%
December 2017
December 2033

Annual Principal Payment Due = June 30th & December 30th Annual Interest Payments Due =
June 30th & December 30th

Par Amount As Of 9/30/25 =

$17,459,909

19

$322,991

$5,908,729

$	21,485

$250,297

$344,476

$6,159,026

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT 7 DEBT SERVICE FUND (2019) FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL
10/1/24 - 9/29/25

 REVENUES	
Interest Income (Master) Interest Income (Village B) Debt Collections (Master)
Payment By Developer (Master) Debt Collections (Village B) Payment By Developer (Village B)
 Prepaid Bonds (Master)	
 Total Revenues	

0
0
1,974,499
0
86,602
0
0

101,373
6,025
1,904,974
0
88,412
0
22,392

101,373
6,025
1,904,974
0
88,412
0
22,392

$

2,061,101

$

2,123,177

$

2,123,177

 EXPENDITURES	
Principal Payments (Master) Principal Payments (Village B) Interest Payments (Master) Interest Payments (Village B)
 Other/Extra Redemption	
 Total Expenditures	

585,000
25,000
1,387,044
58,994
5,064

585,000
25,000
1,399,475
59,525
0

585,000
25,000
1,399,475
59,525
0

$

2,061,102

$

2,069,000

$

2,069,000

 Excess/Shortfall	

$

(1)

$

54,177

$

54,177

Master

Village B

Notes
Master Reserve Fund Balances = $1,974,131*. Master Revenue Fund Balances = $142,555*. Master Prepayment Fund Balances = $23,393*. Village B Reserve Fund Balances = $86,531*. Village B Revenue Fund Balances = $55,325*.
Revenue Fund Balances To Be Used To Make 11/1/2025 Interest Payments

* Approximate Amounts - Revenue Account Balance Is As of 9/30/25.

Series 2019 Bond Information (Master)

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$31,040,000 4.00% - 5.00%
April 2019
May 2050

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$28,335,000

Series 2019 Bond Information (Village B)

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$1,320,000 4.00% - 5.00%
April 2019
May 2050

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$1,205,000

20

$2,095,815

$131,944

$	44,264

$9,912

$2,140,079

$141,856

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT 7 DEBT SERVICE FUND (2021 & 2023) FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL
10/1/24 - 9/29/25

REVENUES

Interest Income (2021)
Interest Income (2023)
Interest Income (2025)
Debt Collections (2021)
Debt Collections (2023)
Debt Collections (2025) Payment By Developer (2021) Payment By Developer (2023) Payment By Developer (2025) Bond Proceeds / Cap I

0
0
0
445,884
353,728
0
0
0
0
0

13,662
11,764
0
482,169
363,396
0
0
0
0
0

13,662
11,764
0
482,169
363,396
0
0
0
0
0

Total Revenues

$

799,612

$

870,991

$

870,991

EXPENDITURES

Principal Payments (2021)
Principal Payments (2023)
Principal Payments (2025)
Interest Payments (2021)
Interest Payments (2023)
Interest Payments (2025) Other/Extra Redemption

175,000
60,000
0
270,725
290,550
0
3,337

175,000
60,000
0
272,913
292,125
0
33,159

175,000
60,000
0
272,913
292,125
0
33,159

Total Expenditures

$

799,612

$

833,196

$

833,196

Excess/Shortfall

$

-

$

37,795

$

37,795

2021

2023

2025

Notes
2021 Reserve Fund Balance = $222,881*. 2023 Reserve Fund Balance = $176,863*.

2021 Revenue Fund Balance = $30,697*.
2023 Revenue Fund Balance = $69,606*.

2025 Reserve Fund Balance = $0.00*. 2025 Revenue Fund Balance = $0.00*.
Revenue Account Balance To Be Used To Make 11/1/2025 Interest Payment

* Approximate Amounts - Revenue Account Balance Is As of 9/30/25.

Series 2021 Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$7,975,000 2.50% - 4.00%
April 2021
May 2051

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$7,305,000

Series 2023 Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$4,805,000 5.250% - 6.250%
Sep-24
May 2054

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$4,745,000

Series 2025 Bond Information

Original Par Amount = Interest Rate =
Issue Date = Maturity Date =

$1,258,000 4.000% - 5.500%
Oct-25 May 2055

Annual Principal Payment Due = May 1st
Annual Interest Payments Due = May 1st & November 1st

Par Amount As Of 9/30/25 =

$1,258,000

21

$238,818

$223,434

$0

$14,760

$23,035

$0

$253,578

$246,469

$0

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT 8 DEBT SERVICE FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL
10/1/24 - 9/29/25

 REVENUES	
Interest Income (Master) Debt Collections (Master)
Payment By Developer (Master) Interest Income (Ser 2022)
Debt Collections (Ser 2022) Payment By Developer (Ser 2022)
 Bond Proceeds (Ser 2022 DSR)	
 Total Revenues	

0
725,308
0
0
1,152,264
0
0

19,554
721,603
0
30,779
1,150,602
0
0

19,554
721,603
0
30,779
1,150,602
0
0

$

1,877,572

$

1,922,539

$

1,922,539

 EXPENDITURES	
Principal Payments (Master) Interest Payments (Master) Principal Payments (Ser 2022) Interest Payments (Ser 2022)
 Other/Extra Redemption	
 Total Expenditures	

280,000
441,519
255,000
896,353
4,700

280,000
445,019
255,000
902,250
0

280,000
445,019
255,000
902,250
0

$

1,877,572

$

1,882,269

$

1,882,269

 Excess/Shortfall	

$

-

$

40,270

$

40,270

Master

Series 2022

Notes
Master Reserve Fund Balance = $362,656*. Master Revenue Fund Balance = $30,901.*
Series 2022 Reserve Fund Balance = $576,134*. Series 2022 Revenue Fund Balance = $47,157.* Revenue Account Balances To Be Used To Make 11/1/2025 Interest Payments
* Approximate Amounts - Revenue Account Balances Is As of 9/30/25.

Series 2021 Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$13,000,000 2.50% - 4.00%
April 2021
May 2051

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$11,915,000

Series 2022 Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$17,000,000 4.625% - 5.500%
December 2022
May 2053

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$16,505,000

22

$377,418

$599,160

$16,139

$24,131

$393,557

$623,291

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT 9 DEBT SERVICE FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL
10/1/24 - 9/29/25

 REVENUES	
Interest Income (Master) Debt Collections (Master)
Payment By Developer (Master)
 Other/Prepayment Revenue	
 Total Revenues	

0
1,167,469
0
0

38,306
1,097,459
0
29,964

38,306
1,097,459
0
29,964

$

1,167,469

$

1,165,729

$

1,165,729

 EXPENDITURES	
Principal Payments (Master) Interest Payments (Master)
 Other/Extra Redemption	
 Total Expenditures	

255,000
910,984
1,485

280,000
917,214
0

280,000
917,214
0

$

1,167,469

$

1,197,214

$

1,197,214

 Excess/Shortfall	

$

-

$

(31,485)

$

(31,485)

Master

Notes
Master Reserve Fund Balance = $584,577*. Master Revenue Fund Balance = $210,937.* Revenue Account Balances To Be Used To Make 11/1/2025 Interest Payments
* Approximate Amounts - Revenue Account Balances Is As of 9/30/25.

Series 2023 Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$17,130,000 4.625% - 5.625%
May-24
May 2053

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$16,605,000

23

$826,999

($61,449)

$765,550

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT 10 DEBT SERVICE FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL
10/1/24 - 9/29/25

 REVENUES	
Interest Income (Master) Debt Collections (Master)
Payment By Developer (Master)
 Bond Proceeds	
 Total Revenues	

0
1,315,571
0
0

36,962
1,236,337
0
0

36,962
1,236,337
0
0

$

1,315,571

$

1,273,299

$

1,273,299

 EXPENDITURES	
Principal Payments (Master) Interest Payments (Master)
 Other/Extra Redemption	
 Total Expenditures	

275,000
1,035,656
4,915

405,000
1,055,727
0

405,000
1,055,727
0

$

1,315,571

$

1,460,727

$

1,460,727

 Excess/Shortfall	

$

-

$

(187,427)

$

(187,427)

Master

Notes
Master Reserve Fund Balance = $657,784*. Master Revenue Fund Balance = $167,987.*Master Prepayment Fund Balance = $39,790.* Revenue Account Balances To Be Used To Make 11/1/2025 Interest Payments
* Approximate Amounts - Revenue Account Balances Is As of 9/30/25.

Series 2024 Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$19,280,000 4.500% - 5.625%
Mar-25
May 2054

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$18,875,000

Series 2025 Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$8,360,000 4.000% - 5.500%
Nov-25
May 2055

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$8,360,000

24

$1,052,989

($187,427)

$865,562

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT 11 DEBT SERVICE FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL
10/1/24 - 9/29/25

 REVENUES	
Interest Income (Master) Debt Collections (Master)
Payment By Developer (Master)
 Bond Proceeds	
 Total Revenues	

0
0
0
0

0
0
0
0

0
0
0
0

$

-

$

-

$

-

 EXPENDITURES	
Principal Payments (Master) Interest Payments (Master)
 Other/Extra Redemption	
 Total Expenditures	

0
0
0

0
0
0

0
0
0

$

-

$

-

$

-

 Excess/Shortfall	

$

-

$

-

$

-

Master

Notes
Master Reserve Fund Balance = $0.00*. Master Revenue Fund Balance = $0.00.* Revenue Account Balances To Be Used To Make 11/1/2025 Interest Payments
* Approximate Amounts - Revenue Account Balances Is As of 9/30/25.

Series 2025 Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$17,325,000 4.75%
Nov-25
May 2032

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$17,325,000

25

$0

$0

$0

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT 12 DEBT SERVICE FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL
10/1/24 - 9/29/25

 REVENUES	
Interest Income (Master) Debt Collections (Master)
Payment By Developer (Master)
 Bond Proceeds	
 Total Revenues	

0
0
0
0

6,414
84,915
0
0

6,414
84,915
0
0

$

-

$

91,329

$

91,329

 EXPENDITURES	
Principal Payments (Master) Interest Payments (Master)
 Other/Extra Redemption	
 Total Expenditures	

0
0
0

0
0
0

0
0
0

$

-

$

-

$

-

 Excess/Shortfall	

$

-

$

91,329

$

91,329

Master

Notes
Master Reserve Fund Balance = $356,425*. Master Revenue Fund Balance = $91,329.* Revenue Account Balances To Be Used To Make 11/1/2025 Interest Payments
* Approximate Amounts - Revenue Account Balances Is As of 9/30/25.

Series 2025 Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$10,045,000 5.000% - 6.000%
Apr-25
May 2055

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$10,045,000

26

$356,425

$91,329

$447,754

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

AMENDED FINAL BUDGET
WEST VILLAGES IMPROVEMENT DISTRICT UNIT 13 DEBT SERVICE FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

FISCAL YEAR 2024/2025 ANNUAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET
10/1/24 - 9/30/25

FISCAL YEAR 2024/2025 ACTUAL
10/1/24 - 9/29/25

 REVENUES	
Interest Income (Master) Debt Collections (Master)
Payment By Developer (Master)
 Bond Proceeds	
 Total Revenues	

0
0
0
0

0
0
0
0

0
0
0
0

$

-

$

-

$

-

 EXPENDITURES	
Principal Payments (Master) Interest Payments (Master)
 Other/Extra Redemption	
 Total Expenditures	

0
0
0

0
0
0

0
0
0

$

-

$

-

$

-

 Excess/Shortfall	

$

-

$

-

$

-

Master

Notes
Master Reserve Fund Balance = $0*. Master Revenue Fund Balance = $0.* Revenue Account Balances To Be Used To Make 11/1/2025 Interest Payments
* Approximate Amounts - Revenue Account Balances Is As of 9/30/25.

Series 2025 Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$0
4.500% - 5.625%
Dec-25 May 2054

Annual Principal Payment Due = May 1st
Annual Interest Payments Due =
May 1st & November 1st

Par Amount As Of 9/30/25 =

$0

27

$0

$0

$0

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25