Verona Walk Community Development District

Amended Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

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

VERONA WALK COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET
10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 8/31/21	
O & M ASSESSMENTS	311,297	311,570	311,570	
DEBT ASSESSMENTS - SERIES 2013	516,740	516,888	516,888	
DEBT ASSESSMENTS - SERIES 2018	582,655	582,787	582,787	
OTHER REVENUES	0	0	0	
INTEREST INCOME	480	730	724	
				
TOTAL REVENUES	$	1,411,172	$	1,411,975	$	1,411,969	
				
EXPENDITURES				
MAINTENANCE EXPENDITURES				
FIELD INSPECTOR	39,000	40,000	33,328	
VEHICLE - CART	0	5,750	5,750	
VEHICLE - INSURANCE	1,000	578	578	
VEHICLE - EQUIPMENT (SMALL TOOLS)	1,545	500	0	
VEHICLE - GAS & MAINTENANCE	2,750	200	112	
LAKE SPRAYING (CLARK)	72,500	83,000	75,952	
LAKE WATER QUALITY TESTING (BENCHMARK)	6,000	4,225	3,168	
LAKE LITTORAL & LAKE BANK PLANTINGS	17,000	5,000	0	
LAKE BANK MOWING	10,000	5,000	0	
OUTFALL PIPE & STRUCTURE INSPECTION & CLEANING	5,000	2,500	0	
STORM PIPE & EROSION REPAIRS	50,000	50,000	37,219	
DREDGING	1,000	500	0	
GOLF CART STORAGE	1,250	1,200	1,200	
MISCELLANEOUS MAINTENANCE	1,200	500	0	
TOTAL MAINTENANCE EXPENDITURES	$	208,245	$	198,953	$	157,307	
				
ADMINISTRATIVE EXPENDITURES				
SUPERVISOR FEES	3,000	0	0	
PAYROLL TAXES (EMPLOYER)	240	0	0	
ENGINEERING	14,500	12,000	4,789	
MANAGEMENT	46,296	46,296	42,438	
SECRETARIAL	4,200	4,200	3,850	
LEGAL	16,500	13,000	8,446	
ASSESSMENT ROLL	10,000	10,000	0	
AUDIT FEES	3,700	3,700	3,700	
ARBITRAGE REBATE FEE - SERIES 2013	650	650	650	
ARBITRAGE REBATE FEE - SERIES 2018	650	650	650	
INSURANCE	6,300	5,819	5,819	
LEGAL ADVERTISING	1,700	1,900	1,533	
MISCELLANEOUS/CONTINGENCY	2,400	1,200	569	
POSTAGE	750	350	319	
OFFICE SUPPLIES	1,150	400	338	
DUES & SUBSCRIPTIONS	175	175	175	
WEBSITE MANAGEMENT	2,000	2,000	1,833	
TRUSTEE FEES - SERIES 2013	4,730	4,730	4,730	
TRUSTEE FEES - SERIES 2018	4,100	3,709	3,709	
CONTINUING DISCLOSURE FEE	1,000	1,000	1,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	124,041	$	111,779	$	84,548	
				
TOTAL EXPENDITURES	$	332,286	$	310,732	$	241,855	
				
REVENUES LESS EXPENDITURES	$	1,078,886	$	1,101,243	$	1,170,114	
				
BOND PAYMENTS (SERIES 2013)	(477,985)	(487,630)	(487,630)	
BOND PAYMENTS (SERIES 2018)	(538,956)	(549,798)	(549,798)	
				
BALANCE	$	61,945	$	63,815	$	132,686	
				
ADMINISTRATIVE COSTS	(48,668)	(27,168)	(27,168)	
DISCOUNTS FOR EARLY PAYMENTS	(57,133)	(52,708)	(52,708)	
				
EXCESS/ (SHORTFALL)	$	(43,856)	$	(16,061)	$	52,810	
				
CARRYOVER FROM PRIOR YEAR	43,856	42,856	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	26,795	$	52,810	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$597,421	
($16,061)	
$581,360	

Notes
Carryover From Prior Year Of $43,856 used to reduce Fiscal Year 2020/2021 Assessments Carryover From Prior Year Of $43,389 to be used to reduce Fiscal Year 2021/2022 Assessments

I

VERONA WALK COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2013)
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET 10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 8/31/21	
Interest Income	150	24	23	
NAV Assessment Collection	477,985	487,630	487,630	
Prepaid Bond Collection (2013)	0	10,774	0	
Total Revenues	$	478,135	$	498,428	$	487,653	
				
EXPENDITURES				
Principal Payments (2013A-1)	240,000	240,000	240,000	
Principal Payments (2013A-2)	25,000	25,000	25,000	
Interest Payments (2013A-1)	197,494	201,378	201,378	
Interest Payments (2013A-2)	13,813	13,463	13,463	
Bond Redemption	1,828	40,000	40,000	
				
Total Expenditures	$	478,135	$	519,841	$	519,841	
				
Excess/ (Shortfall)	$	-	$	(21,413)	$	(32,188)	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$405,632	
($21,413)	
$384,219	

Notes
Reserve (2013A-1) Fund Balance = $219,216*. Reserve (2013A-2) Fund Balance = $13,381*. Revenue Fund Balance = $130,847*. Excess Revenue Fund Balance = $750*.
Prepayment Fund Balance = $20,025*.
Revenue Fund Balance To Be Used To Make 11/1/2020 2013A-1 Interest Payment Of $96,331 and 2013A-2 Interest Payment Of $6,050.
* 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 8/31/21 =	$4,585,000		
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 8/31/21 =	$245,000		

II

AMENDED FINAL BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2018)
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET
10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 8/31/21	
Interest Income	150	16	15	
NAV Assessment Collection	538,956	549,798	549,798	
Prepaid Bond Collection (2018)	0	0	0	
				
Total Revenues	$	539,106	$	549,814	$	549,813	
				
EXPENDITURES				
Principal Payments	317,000	317,000	317,000	
Interest Payments	221,146	226,298	226,298	
Bond Redemption	960	0	0	
				
Total Expenditures	$	539,106	$	543,298	$	543,298	
				
Excess/ (Shortfall)	$	-	$	6,516	$	6,515	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$259,272	
$6,516	
$265,788	

Notes
Reserve Fund Balance = $50,248*. Revenue Fund Balance = $208,452*. Prepayment Account Balance = $7,088*.
Revenue Fund Balance To Be Used To Make 11/1/2021 Interest Payment Of $107,998.
* 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 8/31/21 =	$6,646,000		

III