Verona Walk Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

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

OPERATING FUND FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET
10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
O & M ASSESSMENTS	311,297	312,162	312,162	
DEBT ASSESSMENTS - SERIES 2013	518,105	518,236	518,236	
DEBT ASSESSMENTS - SERIES 2018	583,256	583,404	583,404	
OTHER REVENUES	0	0	0	
INTEREST INCOME	480	746	746	
				
TOTAL REVENUES	$	1,413,138	$	1,414,548	$	1,414,548	
				
EXPENDITURES				
MAINTENANCE EXPENDITURES				
FIELD INSPECTOR	38,000	39,909	39,909	
VEHICLE - INSURANCE	1,000	578	578	
VEHICLE - EQUIPMENT (SMALL TOOLS)	1,545	500	0	
VEHICLE - GAS & MAINTENANCE	3,000	813	813	
LAKE SPRAYING (CLARK)	72,500	69,275	69,275	
LAKE WATER QUALITY TESTING (BENCHMARK)	6,000	5,280	5,280	
LAKE LITTORAL & LAKE BANK PLANTINGS	12,500	2,000	0	
OUTFALL PIPE & STRUCTURE INSPECTION & CLEANING	5,000	2,000	0	
STORM PIPE & EROSION REPAIRS	50,000	5,000	0	
DREDGING	1,000	0	0	
MISCELLANEOUS MAINTENANCE (ENVIRONMENTAL SERVICES)	1,000	1,200	1,200	
TOTAL MAINTENANCE EXPENDITURES	$	191,545	$	126,555	$	117,055	
				
ADMINISTRATIVE EXPENDITURES				
SUPERVISOR FEES	3,000	800	800	
PAYROLL TAXES (EMPLOYER)	240	61	61	
ENGINEERING	15,500	5,000	2,138	
MANAGEMENT	45,264	45,264	45,264	
SECRETARIAL	4,200	4,200	4,200	
LEGAL	17,000	9,339	9,339	
ASSESSMENT ROLL	10,000	10,000	10,000	
AUDIT FEES	3,600	3,600	3,600	
ARBITRAGE REBATE FEE - SERIES 2013	650	650	0	
ARBITRAGE REBATE FEE - SERIES 2018	650	650	650	
INSURANCE	6,518	5,541	5,541	
LEGAL ADVERTISING	1,800	3,000	2,327	
MISCELLANEOUS/CONTINGENCY	2,500	2,000	591	
POSTAGE	800	260	240	
OFFICE SUPPLIES	1,200	440	402	
DUES & SUBSCRIPTIONS	175	175	175	
WEBSITE MANAGEMENT	2,000	2,000	2,000	
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	$	125,927	$	102,419	$	96,767	
				
TOTAL EXPENDITURES	$	317,472	$	228,974	$	213,822	
				
REVENUES LESS EXPENDITURES	$	1,095,666	$	1,185,574	$	1,200,726	
				
BOND PAYMENTS (SERIES 2006)	(479,247)	(489,013)	(489,013)	
BOND PAYMENTS (SERIES 2013)	(539,512)	(550,506)	(550,506)	
				
BALANCE	$	76,907	$	146,055	$	161,207	
				
ADMINISTRATIVE COSTS	(48,737)	(27,211)	(27,211)	
DISCOUNTS FOR EARLY PAYMENTS	(57,212)	(52,471)	(52,471)	
				
EXCESS/ (SHORTFALL)	$	(29,042)	$	66,373	$	81,525	
				
CARRYOVER FROM PRIOR YEAR	29,042	29,042	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	95,415	$	81,525	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$511,046	
$66,373	
$577,419	

Notes
Carryover From Prior Year Of $29,042 used to reduce Fiscal Year 2019/2020 Assessments Carryover From Prior Year Of $43,856 to be used to reduce Fiscal Year 2020/2021 Assessments

I

DEBT SERVICE FUND (SERIES 2013) FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET 10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
Interest Income	150	3,191	3,191	
NAV Assessment Collection	479,247	489,013	489,013	
Prepaid Bond Collection (2013)	0	13,197	13,197	
Total Revenues	$	479,397	$	505,401	$	505,401	
				
EXPENDITURES				
Principal Payments (2013A-1)	230,000	235,000	235,000	
Principal Payments (2013A-2)	25,000	25,000	25,000	
Interest Payments (2013A-1)	205,931	209,331	209,331	
Interest Payments (2013A-2)	14,938	15,500	15,500	
Bond Redemption	3,528	0	0	
				
Total Expenditures	$	479,397	$	484,831	$	484,831	
				
Excess/ (Shortfall)	$	-	$	20,570	$	20,570	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$385,062	
$20,570	
$405,632	

Notes
Reserve (2013A-1) Fund Balance = $221,875*. Reserve (2013A-2) Fund Balance = $19,406*. Revenue Fund Balance = $108,034*. Excess Revenue Fund Balance = $40,750*.
Prepayment Fund Balance = $15,567*.
Revenue Fund Balance To Be Used To Make 11/1/2020 2013A-1 Interest Payment Of $100,847 and 2013A-2 Interest Payment Of $7,187.
Prepayment Fund And Excess Revenue Fund Balance To Be Used To Make 11/1/2020 2013A-1 Principal Payment Of $15,000 and 2013A-2 Principal Payment Of $40,000.
* 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 9/30/20 =	$4,840,000		
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 9/30/20 =	$295,000		

II

AMENDED FINAL BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2018)
FISCAL YEAR 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET
10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
Interest Income	150	259	259	
NAV Assessment Collection	539,512	550,506	550,506	
Prepaid Bond Collection (2018)	0	7,088	7,088	
				
Total Revenues	$	539,662	$	557,853	$	557,853	
				
EXPENDITURES				
Principal Payments	307,000	307,000	307,000	
Interest Payments	231,286	236,275	236,275	
Bond Redemption	1,376	0	0	
				
Total Expenditures	$	539,662	$	543,275	$	543,275	
				
Excess/ (Shortfall)	$	-	$	14,578	$	14,578	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$244,694	
$14,578	
$259,272	

Notes
Reserve Fund Balance = $50,246*. Revenue Fund Balance = $201,938*. Prepayment Account Balance = $7,088*.
Revenue Fund Balance To Be Used To Make 11/1/2020 Interest Payment Of $113,149.
* 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 9/30/20 =	$6,963,000		

III