Islands At Doral (SW) 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

AMENDED FINAL BUDGET
ISLANDS AT DORAL (SW) COMMUNITY DEVELOPMENT DISTRICT 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	
Administrative Assessments	76,031	78,016	78,016	
Maintenance Assessments	32,872	32,872	32,872	
Debt Assessments	627,892	627,892	627,892	
Other Revenues	0	0	0	
Interest Income	420	760	760	
Total Revenues	$	737,215	$	739,540	$	739,540	
				
EXPENDITURES				
Maintenance Expenditures				
Engineering Report/Inspections	1,500	975	975	
Storm Drain Inlet Maintenance	9,000	1,000	0	
Street/Roadway Maintenance - Polynesian Subdivision	4,200	1,000	0	
Miscellaneous General Maintenance	3,600	1,000	0	
Miscellaneous Stormwater System Maintenance	12,600	3,000	0	
Total Maintenance Expenditures	$	30,900	$	6,975	$	975	
				
Administrative Expenditures				
Supervisor Fees	5,000	4,600	4,600	
Payroll Taxes (Employer)	383	352	352	
Management	30,096	30,096	30,096	
Secretarial & Field Operations	6,000	6,000	6,000	
Legal	7,500	6,937	6,937	
Assessment Roll	6,000	6,000	6,000	
Audit Fees	3,500	3,500	3,500	
Arbitrage Rebate Fee	650	650	650	
Insurance	6,500	5,251	5,251	
Legal Advertisements	650	2,000	1,575	
Miscellaneous	1,620	1,400	840	
Postage	275	525	517	
Office Supplies	550	860	809	
Dues & Subscriptions	175	175	175	
Trustee Fees	4,800	2,750	2,750	
Continuing Disclosure Fee	350	350	350	
Website Management	2,000	2,000	2,000	
Administrative Contingency	1,200	500	0	
Total Administrative Expenditures	$	77,249	$	73,946	$	72,402	
				
Total Expenditures	$	108,149	$	80,921	$	73,377	
				
EXCESS/ (SHORTFALL)	$	629,066	$	658,619	$	666,163	
				
Bond Payments	(590,219)	(599,895)	(599,895)	
				
Balance	$	38,847	$	58,724	$	66,268	
				
County Appraiser & Tax Collector Fee	(14,736)	(7,126)	(7,126)	
Discounts For Early Payments	(29,471)	(25,743)	(25,743)	
				
Excess/ (Shortfall)	$	(5,360)	$	25,855	$	33,399	
				
Carryover From Prior Year	5,360	5,360	0	
				
Net Excess/ (Shortfall)	$	-	$	31,215	$	33,399	

Fund Balance As Of 9/30/2019	
FY 2019/2020 Activity	
Fund Balance As Of 9/30/2020	

$265,279	
$25,855	
$291,134	

Notes
Carryover From Prior Year Of $5,360 used to reduce Fiscal Year 2019/2020 Assessments.

11/2/2020 11:31 AM	I

AMENDED FINAL BUDGET
ISLANDS AT DORAL (SW) COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE 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	
Interest Income	50	1,721	1,721	
NAV Tax Collection	590,219	599,895	599,895	
Bond Refunding Proceeds	0	6,945,000	6,945,000	
Transfer From 2007 Debt Service To 2020 Debt Service	0	392,299	392,299	
Total Revenues	$	590,269	$	7,938,915	$	7,938,915	
				
EXPENDITURES				
Principal Payments (2007)	290,000	6,670,000	6,670,000	
Principal Payments (2020)	0	385,000	385,000	
Interest Payments (2007)	300,269	227,789	227,789	
Interest Payments (2020)	0	48,781	48,781	
Cost Of Issuance (2020)	0	152,200	152,200	
Redemption Premium (2007)	0	133,400	133,400	
Transfer From 2007 Debt Service To 2020 Debt Service	0	392,299	392,299	
Total Expenditures	$	590,269	$	8,009,469	$	8,009,469	
				
Excess/ (Shortfall)	$	-	$	(70,554)	$	(70,554)	

Fund Balance As Of 9/30/2019	
Projected FY 2019/2020 Activity	
Projected Fund Balance As Of 9/30/2020	

$180,491	
($70,554)	
$109,937	

Note*: Revenue Fund Balance = $109,937.
Revenue Fund Balance To Be Used To Make 11/1/2020 Interest Payment Of $88,232.
* Approximate Amounts

Series 2020 Refunding Bonds Information
Original Par Amount =	$6,945,000	Annual Principal Payments Due:	
Interest Rate =	2.69%	May 1st	
Issue Date =	Jan 2020	Annual Interest Payments Due:	
Maturity Date =

Par Amount As Of 9/30/20 =	May 2035

$6,945,000	May 1st & November 1st	

II
11/2/2020 11:31 AM