Coronado Community Development District

Final Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
CORONADO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019
BUDGET	
Administrative Assessments	79,081	
Maintenance Assessments	120,895	
Debt Assessments	252,625	
Master Association Contributions	66,300	
Interest	240	
TOTAL REVENUES	$	519,141	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Security Services	132,600	
Aquatic Maintenance/Midgefly Control	4,750	
Fountain Maintenance/Power - FPL	2,400	
Storm Drainage Maintenance	2,400	
Engineering	2,400	
Roadway/Street Maintenance	6,000	
Soft Gates & Security Cameras Maintenance	4,200	
Soft Gates Control/Power - FPL	3,000	
Security Camera Monitoring	14,400	
Contingency	6,000	
Maintenance Reserve	3,000	
TOTAL MAINTENANCE EXPENDITURES	$	181,150	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	7,000	
Payroll Taxes	735	
Management	34,632	
Field Operations Management	1,500	
Legal	10,000	
Assessment Roll	3,000	
Audit Fees	3,500	
Insurance	7,200	
Legal Advertisements	1,800	
Miscellaneous	2,000	
Postage	550	
Office Supplies	800	
Dues & Subscriptions	175	
Trustee Fee	4,600	
Continuing Disclosure Fee	500	
Website Management	1,500	
Operating Reserve	4,200	
TOTAL ADMINISTRATIVE EXPENDITURES	$	83,692	
		
TOTAL EXPENDITURES	$	264,842	
		
REVENUES LESS EXPENDITURES	$	254,299	
		
Bond Payments	(239,994)	
		
BALANCE	$	14,305	
		
County Appraiser & Tax Collector Fee	(4,526)	
Discounts For Early Payments	(18,104)	
		
EXCESS/ (SHORTFALL)	$	(8,325)	
		
Carryover From Prior Year	8,325	
		
NET EXCESS/ (SHORTFALL)	$	-	

6/12/2018 3:32 PM	I

DETAILED FINAL BUDGET
CORONADO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2016/2017
ACTUAL	FISCAL YEAR 2017/2018
BUDGET	FISCAL YEAR 2018/2019
BUDGET	

COMMENTS	
Administrative Assessments	102,187	96,016	79,081	Expenditures Less Interest & Carryover/.95	
Maintenance Assessments	103,106	104,052	120,895	Expenditures Less Contributions/.95	
Debt Assessments	277,950	252,625	252,625	Bond Payments/.95	
Master Association Contributions	61,975	59,550	66,300	Master Association Contributions - 50% Of Security	
Interest	512	180	240	Projected At $20 Per Month	
TOTAL REVENUES	$	545,730	$	512,423	$	519,141		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Security Services	113,347	119,100	132,600	$13,500 Increase From 2017/2018 Budget	
Aquatic Maintenance/Midgefly Control	1,975	4,500	4,750	$250 Increase From 2017/2018 Budget	
Fountain Maintenance/Power - FPL	665	2,400	2,400	No Change From 2017/2018 Budget	
Storm Drainage Maintenance	0	4,200	2,400	$1,800 Decrease From 2017/2018 Budget	
Engineering	1,014	4,800	2,400	$2,400 Decrease From 2017/2018 Budget	
Roadway/Street Maintenance	0	6,600	6,000	$600 Decrease From 2017/2018 Budget	
Soft Gates & Security Cameras Maintenance	0	4,800	4,200	$600 Decrease From 2017/2018 Budget	
Soft Gates Control/Power - FPL	0	2,500	3,000	$500 Increase From 2017/2018 Budget	
Security Camera Monitoring	0	500	14,400	Security Camera Monitoring	
Contingency	0	4,800	6,000	$1,200 Increase From 2017/2018 Budget	
Maintenance Reserve	0	4,200	3,000	$1,200 Decrease From 2017/2018 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	117,001	$	158,400	$	181,150		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	6,000	10,000	7,000	$3,000 Decrease From 2017/2018 Budget	
Payroll Taxes	459	765	735	Supervisor Fees * 7.65%	
Management	33,228	33,924	34,632	CPI Adjustment	
Field Operations Management	750	900	1,500	$600 Increase From 2017/2018 Budget	
Legal	6,497	12,000	10,000	FY 2017/2018 Expenditures Through Feb 2018 Were $1,655	
Assessment Roll	3,000	3,000	3,000	As Per Contract	
Audit Fees	3,300	3,400	3,500	Accepted Amount For 2017/2018 Audit	
Insurance	5,778	6,356	7,200	Insurance Estimate	
Legal Advertisements	3,411	1,800	1,800	No Change From 2017/2018 Budget	
Miscellaneous	1,428	1,600	2,000	$400 Increase From 2017/2018 Budget	
Postage	371	575	550	$25 Decrease From 2017/2018 Budget	
Office Supplies	1,269	800	800	No Change From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fee	4,580	4,600	4,600	No Change From 2017/2018 Budget	
Continuing Disclosure Fee	500	1,000	500	$500 Decrease From 2017/2018 Budget	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	
Operating Reserve	0	9,000	4,200	Operating Reserve	
TOTAL ADMINISTRATIVE EXPENDITURES	$	72,246	$	91,395	$	83,692		
					
TOTAL EXPENDITURES	$	189,247	$	249,795	$	264,842		
					
REVENUES LESS EXPENDITURES	$	356,483	$	262,628	$	254,299		
					
Bond Payments	(265,759)	(239,994)	(239,994)	2019 P & I Payments Less Interest	
					
BALANCE	$	90,724	$	22,634	$	14,305		
					
County Appraiser & Tax Collector Fee	(4,667)	(4,527)	(4,526)	One Percent Of Total Assessment Roll	
Discounts For Early Payments	(16,487)	(18,107)	(18,104)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	69,570	$	-	$	(8,325)		
					
Carryover From Prior Year	0	0	8,325	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	69,570	$	-	$	-		

6/12/2018 3:32 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
CORONADO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2016/2017 ACTUAL	FISCAL YEAR 2017/2018 BUDGET	FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	

Interest Income	
550	
0	
100	
Projected Interest For 2018/2019	

NAV Tax Collection	
265,759	
239,994	
239,994	
Maximum Debt Service Collection	

Total Revenues	
$	266,309	
$	239,994	
$	240,094		

EXPENDITURES					

Principal Payments	
70,000	
114,000	
117,000	
Principal Payments Due In 2019	

Interest Payments	
188,400	
125,345	
122,891	
Interest Payments Due In 2019	

Bond Redemption	
0	
649	
203	
Estimated Excess Debt Collections	

Total Expenditures	
$	258,400	
$	239,994	
$	240,094		

Excess/ (Shortfall)	
$	7,909	
$	-	
$	-		

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 =

Par Amount As Of 1/1/2018 =	May 2038

$3,399,000			

6/12/2018 3:32 PM	III

Coronado Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2015/2016	2016/2017	2017/2018	2018/2019	
 	Assessment*		 	Assessment*		 	Projected Assessment*		 	Projected Assessment*		
Administrative	$	307.40	$	308.85	$	293.63	$	241.84	
Maintenance	$	317.08	$	315.31	$	318.20	$	369.71	
Debt	$	850.00	$	850.00	$	772.56	$	772.56	
Total	$	1,474.48	$	1,474.16	$	1,384.39	$	1,384.11	

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

6/12/2018  3:32 PM	IV