Sail Harbour 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
SAIL HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019
BUDGET	
O & M Assessments	69,017	
Debt Assessments	509,434	
Other Revenues	0	
Interest Income	300	
		
TOTAL REVENUES	$	578,751	
		
EXPENDITURES		
Supervisor Fees	9,000	
Payroll Taxes (Employer)	720	
Engineering/Inspections	7,500	
Pipe Maintenance/Replacement	10,000	
Management	24,000	
Legal	5,500	
Assessment Roll	5,000	
Audit Fees	3,900	
Arbitrage Rebate Fee	600	
Travel	500	
Insurance	6,356	
Legal Advertisements	1,500	
Miscellaneous	1,800	
Postage	350	
Office Supplies	600	
Dues & Subscriptions	175	
Trustee Fee	4,400	
Website Management	1,500	
		
TOTAL EXPENDITURES	$	83,401	
		
REVENUES LESS EXPENDITURES	$	495,350	
		
Bond Payments	(478,868)	
		
BALANCE	$	16,482	
		
County Appraiser & Tax Collector Fee	(11,569)	
Discounts For Early Payments	(23,138)	
		
EXCESS/ (SHORTFALL)	$	(18,225)	
		
Carryover Funds From Prior Year	18,225	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
SAIL HARBOUR 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	
O & M Assessments	69,932	69,022	69,017	Expenditures Less Interest/.94	
Debt Assessments	510,512	509,434	509,434	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	294	300	300	Interest Projected At $25 Per Month	
					
TOTAL REVENUES	$	580,738	$	578,756	$	578,751		
					
EXPENDITURES					
Supervisor Fees	5,400	9,000	9,000	No Change From 2017/2018 Budget	
Payroll Taxes (Employer)	413	720	720	8% Of Supervisor Fees	
Engineering/Inspections	4,123	7,500	7,500	No Change From 2017/2018 Budget	
Pipe Maintenance/Replacement	0	10,000	10,000	No Change From 2017/2018 Budget	
Management	24,000	24,000	24,000	No Change From 2017/2018 Budget	
Legal	6,741	5,500	5,500	No Change From 2017/2018 Budget	
Assessment Roll	5,000	5,000	5,000	No Change From 2017/2018 Budget	
Audit Fees	3,700	3,800	3,900	$100 Increase From 2017/2018 Budget	
Arbitrage Rebate Fee	600	600	600	No Change From 2017/2018 Budget	
Travel	206	500	500	No Change From 2017/2018 Budget	
Insurance	5,778	6,356	6,356	Insurance Company Estimate	
Legal Advertisements	2,273	1,300	1,500	$200 Increase From 2017/2018 Budget	
Miscellaneous	1,024	2,000	1,800	$200 Decrease From 2017/2018 Budget	
Postage	263	350	350	No Change From 2017/2018 Budget	
Office Supplies	432	600	600	No Change From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fee	4,337	4,400	4,400	No Change From 2017/2018 Budget	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	
					
TOTAL EXPENDITURES	$	65,965	$	83,301	$	83,401		
					
REVENUES LESS EXPENDITURES	$	514,773	$	495,455	$	495,350		
					
Bond Payments	(486,512)	(478,868)	(478,868)	2019 P & I Payments Less Earned Interest	
					
BALANCE	$	28,261	$	16,587	$	16,482		
					
County Appraiser & Tax Collector Fee	(891)	(11,569)	(11,569)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(20,199)	(23,138)	(23,138)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	7,171	$	(18,120)	$	(18,225)		
					
Carryover Funds From Prior Year	0	18,120	18,225	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	7,171	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
SAIL HARBOUR 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	
1,084	
25	
50	
Projected Interest For 2018/2019	

NAV Tax Collection	
486,512	
478,868	
478,868	
Yearly Maximum Debt Assessment	

Prepaid Bond Collection	
13,309	
0	
0		

Total Revenues	
$	500,905	
$	478,893	
$	478,918		

EXPENDITURES					

Principal Payments	
245,000	
250,000	
260,000	
Principal Payment Due In 2019	

Interest Payments	
238,710	
225,168	
215,494	
Interest Payments Due In 2019	

Additional Principal Payments	
10,000	
3,725	
3,424	
Additional Principal Payments	

Total Expenditures	
$	493,710	
$	478,893	
$	478,918		

Excess/ (Shortfall)	
$	7,195	
$	-	
$	-		

Series 2015 Bond Refunding Information

Original Par Amount =	$6,775,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.60%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	February 2015			
Maturity Date =

Par Amount As Of 1/1/18 =	May 2036

$6,285,000			

Sail Harbour Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2015/2016	2016/2017	2017/2018	2018/2019	
Assessment	Assessment	Assessment	Assessment	Projected Assessment	
  Before Discount*	  Before Discount*	  Before Discount*	    Before Discount* 	    Before Discount* 	

O & M	$	168.54	$	168.51	$	146.02	$	145.93	$	145.92	
Debt	$	1,223.46	$	1,079.31	$	1,079.31	$	1,079.31	$	1,079.31	

Total

$	1,392.00

$	1,247.82

$	1,225.33	$

1,225.24	$

1,225.23

* Assessments Include the Following : 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:		
Total Units	473	
Prepayments	1	
Billed for Debt	472	

5/30/2018 4:33 PM	IV