Gulfstream Polo Community Development District

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

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020
BUDGET	
O&M Assessments	78,786	
Developer Contribution - O&M	0	
Debt Assessments	206,739	
Developer Contribution - Debt	0	
Interest Income	60	
		
TOTAL REVENUES	$	285,585	
		
EXPENDITURES		
Supervisor Fees	0	
Engineering/Inspections	2,500	
Management	34,440	
Legal	14,000	
Assessment Roll	5,000	
Audit Fees	3,400	
Arbitrage Rebate Fee	0	
Insurance	6,200	
Legal Advertisements	2,000	
Miscellaneous	800	
Postage	300	
Office Supplies	775	
Dues & Subscriptions	175	
Trustee Fees	3,300	
Continuing Disclosure Fee	1,000	
Reserve	229	
		
TOTAL EXPENDITURES	$	74,119	
		
REVENUES LESS EXPENDITURES	$	211,466	
		
Bond Payments	(194,335)	
		
BALANCE	$	17,131	
		
County Appraiser & Tax Collector Fee	(5,710)	
Discounts For Early Payments	(11,421)	
		
EXCESS/ (SHORTFALL)	$	-	

4/11/2019 10:27 AM	I

DETAILED PROPOSED BUDGET
GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018 ACTUAL	
FISCAL YEAR 2018/2019 BUDGET	
FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	
O&M Assessments	0	78,786	78,786	Expenditures/.94	
Developer Contribution - O&M	40,963	0	0		
Debt Assessments	0	206,739	206,739	Bond Payments/.94	
Developer Contribution - Debt	92,242	0	0		
Interest Income	14	0	60	Interest Projected At $5.00 Per Month	
					
TOTAL REVENUES	$	133,219	$	285,525	$	285,585		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Engineering/Inspections	350	2,500	2,500	FY 18/19 Expenditure Through Feb 2019 Was $2,334	
Management	33,000	33,684	34,440	CPI Adjustments	
Legal	5,048	15,000	14,000	FY 18/19 Expenditure Through Feb 2019 Was $3,094	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,200	3,300	3,400	Accepted Amount For 2018/2019 Audit	
Arbitrage Rebate Fee	0	0	0	2017 Bond Issue qualifies For Small User Exception	
Insurance	5,444	6,000	6,200	FY 18/19 Expenditure Was $5,872	
Legal Advertisements	1,070	2,000	2,000	FY 18/19 Expenditure Through Jan 2019 Was $1,046	
Miscellaneous	72	1,000	800	$200 Decrease From 2018/2019 Budget	
Postage	198	300	300	No Change From 2018/2019 Budget	
Office Supplies	254	800	775	$25 Decrease From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fees	3,180	3,300	3,300	No Change From 2018/2019 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2018/2019 Budget	
Reserve	0	0	229	Reserve	
					
TOTAL EXPENDITURES	$	57,991	$	74,059	$	74,119		
					
REVENUES LESS EXPENDITURES	$	75,228	$	211,466	$	211,466		
					
Bond Payments	(92,242)	(194,335)	(194,335)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$	(17,014)	$	17,131	$	17,131		
					
County Appraiser & Tax Collector Fee	0	(5,710)	(5,710)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	0	(11,421)	(11,421)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(17,014)	$	-	$	-		

4/11/2019 10:27 AM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	

FISCAL YEAR

2017/2018

ACTUAL	

FISCAL YEAR

2018/2019

BUDGET	

FISCAL YEAR

2019/2020

BUDGET	

COMMENTS	

Interest Income	
227	
0	
0	
Projected Interest For 2019/2020	

Developer Contribution	
92,242	
0	
0	

2018 Payments Were Developer Funded	

NAV Tax Collection	
0	
194,335	
194,335	
Maximum Debt Service Collection	

Total Revenues	
$	92,469	
$	194,335	
$	194,335		

EXPENDITURES					

Principal Payments	
0	
50,000	
55,000	
Principal Payment Due In 2020	

Interest Payments	
92,242	
132,488	
130,738	
Interest Payments Due In 2020	

Bond Redemption	
0	
11,847	
8,597	
Estimated Excess Debt Collections	

Total Expenditures	
$	92,242	
$	194,335	
$	194,335		

Excess/ (Shortfall)	

$	227	

$	-	

$	-		

Series 2017 Bond Information

Original Par Amount =	$2,870,000	Annual Principal Payments Due =	November 1st	
Interest Rate = Issue Date = Maturity Date =	3.50% - 5.00%
August 2017
November 2047	Annual Interest Payments Due =	May 1st & November 1st	

Par Amount As Of 1/1/19 =	
$2,845,000			

4/11/2019 10:27 AM	III

GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2016/2017	2017/2018	2018/2019	2019/2020	
   Assessment* 	 	Assessment*		 	Assessment*		 	Assessment*		   Projected Assessment* 	

O & M For Single Family Residential	
$	-	
$	-	
$	-	
$	89.23	
$	89.23	
Debt For Single Family Residential	$	1,164.89	$	- 	$	- 	$	1,164.89	$	1,164.89	
Total For Single Family Residential	$	1,164.89	$	-	$	-	$	1,254.12	$	1,254.12	

O & M For Zero Lot Line Residential	
$	-	
$	-	
$	-	
$	89.23	
$	89.23	
Debt For Zero Lot Line Residential	$	1,063.82	$	- 	$	- 	$	1,063.82	$	1,063.82	
Total For Zero Lot Line Residential	$	1,063.82	$	-	$	-	$	1,153.05	$	1,153.05	

O & M For Residential Townhomes	
$	-	
$	-	
$	-	
$	89.23	
$	89.23	
Debt For Residential Townhomes	$	814.89	$	- 	$	- 	$	814.89	$	814.89	
Total For Residential Townhomes	$	814.89	$	-	$	-	$	904.12	$	904.12	

O & M For Pods C, D & E (656 Units)	
$	-	
$	
-	$	
-	$	
89.23	
$	
89.23	
Debt For Pods C, D & E	$	- 	$	- 	$	- 	$	- 	$	- 	
Total For Pods C, D & E (656 Units)	$	-	$	-	$	-	$	89.23	$	89.23	

* Assessments Include the Following:	O&M Assessed To 883 Units
4% Discount for Early Payments	Debt Assessed To 227 Units 1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information 883 Total Units

(Pod B):
Single Family Residential: 1 Unit Zero Lot Line Residential: 86 Units Residential Townhomes: 140 Units Total:	227 Units

4/11/2019 10:27 AM	IV