Coronado Community Development District

Final Budget For Fiscal Year 2017/2018
October 1, 2017 - September 30, 2018

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
CORONADO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2017/2018
BUDGET	
Administrative Assessments	96,016	
Maintenance Assessments	104,052	
Debt Assessments	252,625	
Master Association Contributions	59,550	
Interest	180	
TOTAL REVENUES	$	512,423	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Security Services	119,100	
Aquatic Maintenance/Midgefly Control	4,500	
Fountain Maintenance/Power - FPL	2,400	
Storm Drainage Maintenance	4,200	
Engineering	4,800	
Roadway/Street Maintenance	6,600	
Soft Gates & Security Cameras Maintenance	4,800	
Soft Gates Control/Power - FPL	2,500	
Contingency	4,800	
Maintenance Reserve	4,200	
Security Gate Project	500	
TOTAL MAINTENANCE EXPENDITURES	$	158,400	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	10,000	
Payroll Taxes	765	
Management	33,924	
Field Operations Management	900	
Legal	12,000	
Assessment Roll	3,000	
Audit Fees	3,400	
Insurance	6,356	
Legal Advertisements	1,800	
Miscellaneous	1,600	
Postage	575	
Office Supplies	800	
Dues & Subscriptions	175	
Trustee Fee	4,600	
Continuing Disclosure Fee	1,000	
Website Management	1,500	
Operating Reserve	9,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	91,395	
		
TOTAL EXPENDITURES	$	249,795	
		
REVENUES LESS EXPENDITURES	$	262,628	
		
Bond Payments	(239,994)	
		
BALANCE	$	22,634	
		
County Appraiser & Tax Collector Fee	(4,527)	
Discounts For Early Payments	(18,107)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

5/10/2017 8:06 AM	I

DETAILED FINAL BUDGET
CORONADO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2015/2016
ACTUAL	FISCAL YEAR 2016/2017
BUDGET	FISCAL YEAR 2017/2018
BUDGET	

COMMENTS	
Administrative Assessments	101,190	100,995	96,016	Expenditures Less Interest & Carryover/.95	
Maintenance Assessments	103,686	103,105	104,052	Expenditures Less Contributions/.95	
Debt Assessments	277,953	277,950	252,625	Bond Payments/.95	
Master Association Contributions	57,208	58,750	59,550	Master Association Contributions - 50% Of Security	
Interest	364	100	180	Projected At $15 Per Month	
TOTAL REVENUES	$	540,401	$	540,900	$	512,423		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Security Services	113,646	117,500	119,100	$1,600 Increase From 2016/2017 Budget	
Aquatic Maintenance/Midgefly Control	3,332	4,500	4,500	No Change From 2016/2017 Budget	
Fountain Maintenance/Power - FPL	0	3,500	2,400	$1,100 Decrease From 2016/2017 Budget	
Storm Drainage Maintenance	0	4,800	4,200	$600 Decrease From 2016/2017 Budget	
Engineering	1,350	6,000	4,800	$1,200 Decrease From 2016/2017 Budget	
Roadway/Street Maintenance	7,038	8,400	6,600	$1,800 Decrease From 2016/2017 Budget	
Soft Gates & Security Cameras Maintenance	0	0	4,800	Soft Gates & Security Cameras Maintenance	
Soft Gates Control/Power - FPL	0	0	2,500	Soft Gates Control/Power - FPL	
Contingency	0	4,800	4,800	No Change From 2016/2017 Budget	
Maintenance Reserve	0	7,200	4,200	$3,000 Decrease From 2016/2017 Budget	
Security Gate Project	0	0	500	Security Gate Project	
TOTAL MAINTENANCE EXPENDITURES	$	125,366	$	156,700	$	158,400		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	3,000	11,000	10,000	$1,000 Decrease From 2016/2017 Budget	
Payroll Taxes	230	842	765	Supervisor Fees * 7.65%	
Management	33,000	33,228	33,924	CPI Adjustment	
Field Operations Management	0	750	900	$150 Increase From 2016/2017 Budget	
Legal	3,001	13,200	12,000	FY 2016/2017 Expenditures Through Dec 2016 Were $2,032	
Assessment Roll	3,000	3,000	3,000	As Per Contract	
Audit Fees	3,900	4,000	3,400	Accepted Amount For 2016/2017 Audit	
Insurance	5,665	6,750	6,356	Insurance Company Estimate	
Legal Advertisements	607	1,600	1,800	$200 Increase From 2016/2017 Budget	
Miscellaneous	1,070	1,600	1,600	No Change From 2016/2017 Budget	
Postage	171	600	575	$25 Decrease From 2016/2017 Budget	
Office Supplies	481	800	800	No Change From 2016/2017 Budget	
Dues & Subscriptions	175	175	175	No Change From 2016/2017 Budget	
Trustee Fee	4,579	4,600	4,600	No Change From 2016/2017 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2016/2017 Budget	
Website Management	1,500	1,500	1,500	No Change From 2016/2017 Budget	
Operating Reserve	0	15,600	9,000	Operating Reserve	
TOTAL ADMINISTRATIVE EXPENDITURES	$	61,379	$	100,245	$	91,395		
					
TOTAL EXPENDITURES	$	186,745	$	256,945	$	249,795		
					
REVENUES LESS EXPENDITURES	$	353,656	$	283,955	$	262,628		
					
Bond Payments	(265,729)	(264,052)	(239,994)	2018 P & I Payments Less Interest	
					
BALANCE	$	87,927	$	19,903	$	22,634		
					
County Appraiser & Tax Collector Fee	(4,662)	(4,821)	(4,527)	One Percent Of Total Assessment Roll	
Discounts For Early Payments	(16,547)	(19,282)	(18,107)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	66,718	$	(4,200)	$	-		
					
Carryover From Prior Year	0	4,200	0	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	66,718	$	-	$	-		

5/10/2017 8:06 AM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
CORONADO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2015/2016 ACTUAL	FISCAL YEAR 2016/2017 BUDGET	FISCAL YEAR 2017/2018 BUDGET	

COMMENTS	

Interest Income	
791	
0	
0	
Projected Interest For 2017/2018	

NAV Tax Collection	
265,729	
264,052	
239,994	
Maximum Debt Service Collection	

Total Revenues	
$	266,520	
$	264,052	
$	239,994		

EXPENDITURES					

Principal Payments	
65,000	
70,000	
114,000	
Principal Payments Due In 2018	

Interest Payments	
192,300	
186,300	
125,345	
Interest Payments Due In 2018	

Bond Redemption	
0	
0	
649	
Estimated Excess Debt Collections	

Transfer To Deferred Costs Account	
11,826	
7,752	
0	
Deferred Cost Obligation Completed	

Total Expenditures	
$	269,126	
$	264,052	
$	239,994		

Excess/ (Shortfall)	
$	(2,606)	
$	-	
$	-		

Series 2017 Bond Refunding Information

Original Par Amount =	$3,399,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	2.125% - 4.25%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	April 2017			
Maturity Date =	May 2038			

5/10/2017 8:06 AM	III

Coronado Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2014/2015	2015/2016	2016/2017	2017/2018	
 	Assessment*		 	Assessment*		 	Assessment*		 	Projected Assessment*		
Administrative	$	-	$	307.40	$	308.85	$	293.63	
Maintenance	$	470.53	$	317.08	$	315.31	$	318.20	
Debt	$	850.00	$	850.00	$	850.00	$	772.56	
Total	$	1,320.53	$	1,474.48	$	1,474.16	$	1,384.39	

* Assessments Include the Following :	                   4% Discount for Early Payments
1% County Tax Collector/Property Appraiser Fee
Community Information:		                                       Total Units	327

5/10/2017  8:06 AM	IV