Verona Walk Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2013) III	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2018)

AMENDED FINAL BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET
10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 9/29/19	
O & M ASSESSMENTS	311,297	312,167	312,167	
DEBT ASSESSMENTS - SERIES 2013	518,105	512,445	512,445	
DEBT ASSESSMENTS - SERIES 2018	583,256	589,087	589,087	
OTHER REVENUES	0	255	255	
INTEREST INCOME	420	960	947	
				
TOTAL REVENUES	$	1,413,078	$	1,414,914	$	1,414,901	
				
EXPENDITURES				
MAINTENANCE EXPENDITURES				
FIELD INSPECTOR	38,000	38,000	33,917	
VEHICLE - INSURANCE	1,000	563	563	
VEHICLE - EQUIPMENT (SMALL TOOLS)	1,545	100	0	
VEHICLE - GAS & MAINTENANCE	4,160	500	299	
LAKE SPRAYING (CLARK)	65,000	68,000	65,994	
LAKE WATER QUALITY TESTING (BENCHMARK)	6,000	4,500	3,168	
LAKE LITTORAL & LAKE BANK PLANTINGS	20,000	1,000	0	
OUTFALL PIPE & STRUCTURE INSPECTION & CLEANING	5,000	1,000	0	
STORM PIPE & EROSION REPAIRS	50,000	50,000	44,760	
DREDGING	3,640	100	0	
MISCELLANEOUS MAINTENANCE (ENVIRONMENTAL SERVICES)	0	5,700	5,700	
TOTAL MAINTENANCE EXPENDITURES	$	194,345	$	169,463	$	154,401	
				
ADMINISTRATIVE EXPENDITURES				
SUPERVISOR FEES	4,000	1,200	1,200	
PAYROLL TAXES (EMPLOYER)	320	91	91	
ENGINEERING	17,500	5,000	2,609	
MANAGEMENT	44,424	44,424	44,424	
SECRETARIAL	4,200	4,200	4,200	
LEGAL	17,500	9,000	6,206	
ASSESSMENT ROLL	10,000	10,000	10,000	
AUDIT FEES	3,500	3,500	3,500	
ARBITRAGE REBATE FEE - SERIES 2013	650	650	650	
ARBITRAGE REBATE FEE - SERIES 2018	650	650	650	
INSURANCE	6,518	5,277	5,277	
LEGAL ADVERTISING	2,000	1,500	931	
MISCELLANEOUS/CONTINGENCY	2,500	1,500	754	
POSTAGE	800	250	242	
OFFICE SUPPLIES	1,200	500	465	
DUES & SUBSCRIPTIONS	175	175	175	
WEBSITE MANAGEMENT	1,500	1,500	1,500	
TRUSTEE FEES - SERIES 2013	4,730	4,730	4,730	
TRUSTEE FEES - SERIES 2018	4,100	3,709	3,709	
CONTINUING DISCLOSURE FEE - SERIES 2013	1,000	1,000	1,000	
CONTINUING DISCLOSURE FEE - SERIES 2018	1,000	0	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	128,267	$	98,856	$	92,313	
				
TOTAL EXPENDITURES	$	322,612	$	268,319	$	246,714	
				
REVENUES LESS EXPENDITURES	$	1,090,466	$	1,146,595	$	1,168,187	
				
BOND PAYMENTS (SERIES 2006)	(479,247)	(486,830)	(486,830)	
BOND PAYMENTS (SERIES 2013)	(539,512)	(548,049)	(548,049)	
				
BALANCE	$	71,707	$	111,716	$	133,308	
				
ADMINISTRATIVE COSTS	(48,737)	(27,210)	(27,210)	
DISCOUNTS FOR EARLY PAYMENTS	(57,212)	(52,571)	(52,571)	
				
EXCESS/ (SHORTFALL)	$	(34,242)	$	31,935	$	53,527	
				
CARRYOVER FROM PRIOR YEAR	34,242	34,242	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	66,177	$	53,527	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$455,010	
$31,935	
$486,945	

Notes
Carryover From Prior Year Of $34,242 used to reduce Fiscal Year 2018/2019 Assessments Carryover From Prior Year Of $29,042 to be used to reduce Fiscal Year 2019/2020 Assessments

I

AMENDED FINAL BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2013)
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET 10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 9/29/19	
Interest Income	100	8,400	8,383	
NAV Collection	479,247	486,830	486,830	
				
Total Revenues	$	479,347	$	495,230	$	495,213	
				
EXPENDITURES				
Principal Payments (2013A-1)	220,000	220,000	220,000	
Principal Payments (2013A-2)	25,000	25,000	25,000	
Interest Payments (2013A-1)	214,156	216,291	216,291	
Interest Payments (2013A-2)	16,063	16,625	16,625	
Bond Redemption	4,128	15,000	15,000	
				
Total Expenditures	$	479,347	$	492,916	$	492,916	
				
Excess/ (Shortfall)	$	-	$	2,314	$	2,297	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$382,193	
$2,314	
$384,507	

Notes
Reserve (2013A-1) Fund Balance = $221,875*. Reserve (2013A-2) Fund Balance = $19,969*. Revenue Fund Balance = $137,839*.
Revenue & Interest Fund Balance To Be Used To Make 11/1/2019 2013A-1 Interest Payment Of $104,666 and 2013A-2 Interest Payment Of $7,750.
* Approximate Amounts

Series 2013A-1 Bond Refunding Information		
Original Par Amount =	$6,455,000	Annual Principal Payments Due =	
Interest Rate =	1.1% - 4.375%	May 1st	
Issue Date =	June 2013	Annual Interest Payments Due =	
Maturity Date =	May 2035	May 1st & November 1st	
Par Amount As Of 9/30/19 =	$5,075,000		
Series 2013A-2 Bond Refunding Information			
Original Par Amount =	$650,000	Annual Principal Payments Due =	
Interest Rate =	4.5% - 5.0%	May 1st	
Issue Date =	June 2013	Annual Interest Payments Due =	
Maturity Date =	May 2035	May 1st & November 1st	
Par Amount As Of 9/30/19 =	$320,000		

II

AMENDED FINAL BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2018)
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET 10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 9/29/19	
Interest Income	100	960	950	
NAV Assessment Collection	539,512	548,049	548,049	
Bond Refunding Proceeds	0	0	0	
				
Total Revenues	$	539,612	$	549,009	$	548,999	
				
EXPENDITURES				
Principal Payments	297,000	297,000	297,000	
Interest Payments	241,101	245,928	245,928	
Bond Redemption	1,511	0	0	
				
Total Expenditures	$	539,612	$	542,928	$	542,928	
				
Excess/ (Shortfall)	$	-	$	6,081	$	6,071	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$238,581	
$6,081	
$244,662	

Notes
Reserve Fund Balance = $50,195*. Revenue Fund Balance = $194,460*.
Revenue Fund Balance To Be Used To Make 11/1/2019 Interest Payment Of $118,138.
* Approximate Amounts

Series 2018 Bond Refunding Information		
Original Par Amount =	$7,677,000	Annual Principal Payments Due:	
Interest Rate =	3.25% - 5.375%	May 1st	
Issue Date =	March 2018	Annual Interest Payments Due:	
Maturity Date =	May 2037	May 1st & November 1st	
Par Amount As Of 9/30/19 =	$7,270,000		

III