Pentathlon Community Development District

Final Budget For Fiscal Year 2017/2018
October 1, 2017 - September 30, 2018

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
PENTATHLON COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	
FISCAL YEAR 2017/2018
BUDGET	
ADMINISTRATIVE ASSESSMENTS	69,431	
MAINTENANCE/INFRASTRUCTURE IMPROVEMENT ASSESSMENTS	11,702	
DEBT ASSESSMENTS	213,551	
INTEREST INCOME	120	
		
TOTAL REVENUES	$	294,804	
		
EXPENDITURES		
MAINTENANCE/INFRASTRUCTURE IMPROVEMENTS		
IMPROVEMENT CONTINGENCY	10,000	
ENGINEERING/INSPECTIONS	1,000	
TOTAL MAINTENANCE/INFRASTRUCTURE IMPROVEMENTS	$	11,000	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	6,000	
PAYROLL TAXES (EMPLOYER)	480	
MANAGEMENT	29,424	
SECRETARIAL	3,000	
LEGAL	8,000	
ASSESSMENT ROLL	6,000	
AUDIT FEES	3,800	
INSURANCE	6,356	
LEGAL ADVERTISING	650	
MISCELLANEOUS	1,000	
POSTAGE	300	
OFFICE SUPPLIES	650	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	3,350	
CONTINUING DISCLOSURE FEE	500	
WEBSITE MANAGEMENT	1,000	
		
TOTAL ADMINISTRATIVE EXPENDITURES	$	70,685	
		
TOTAL EXPENDITURES	$	81,685	
		
REVENUES LESS EXPENDITURES	$	213,119	
		
BOND PAYMENTS	(200,738)	
		
BALANCE	$	12,381	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(5,894)	
DISCOUNTS FOR EARLY PAYMENTS	(11,787)	
		
EXCESS/ (SHORTFALL)	$	(5,300)	
		
CARRYOVER FROM PRIOR YEAR	5,300	
		
NET EXCESS/ (SHORTFALL)	$	-	

5/3/2017  10:16 AM	I

DETAILED FINAL BUDGET
PENTATHLON COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	
FISCAL YEAR 2015/2016 ACTUAL	
FISCAL YEAR 2016/2017 BUDGET	
FISCAL YEAR 2017/2018 BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	64,602	66,914	69,431	Expenditures Less Interest & Carryover/.94	
MAINTENANCE/INFRASTRUCTURE IMPROVEMENT ASSESSMENTS	17,024	11,702	11,702	Expenditures/.94	
DEBT ASSESSMENTS	213,906	216,511	213,551	Bond Payments/.94	
INTEREST INCOME	173	60	120	Interest Projected At $10 Per Month	
					
TOTAL REVENUES	$	295,705	$	295,187	$	294,804		
					
EXPENDITURES					
MAINTENANCE/INFRASTRUCTURE IMPROVEMENTS					
IMPROVEMENT CONTINGENCY	0	10,000	10,000	Improvement Contingency	
ENGINEERING/INSPECTIONS	700	1,000	1,000	No Change From 2016/2017 Budget	
TOTAL MAINTENANCE/INFRASTRUCTURE IMPROVEMENTS	$	700	$	11,000	$	11,000		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	3,400	7,000	6,000	$1,000 Decrease From 2016/2017 Budget	
PAYROLL TAXES (EMPLOYER)	260	560	480	Projected At 8% Of Supervisor Fees	
MANAGEMENT	28,632	28,824	29,424	CPI Adjustment	
SECRETARIAL	3,000	3,000	3,000	No Change From 2016/2017 Budget	
LEGAL	5,457	8,000	8,000	No Change From 2016/2017 Budget	
ASSESSMENT ROLL	6,000	6,000	6,000	No Change From 2016/2017 Budget	
AUDIT FEES	3,600	3,700	3,800	$100 Increase From 2016/2017 Budget	
INSURANCE	5,665	6,000	6,356	Insurance Company Estimate	
LEGAL ADVERTISING	228	650	650	No Change From 2016/2017 Budget	
MISCELLANEOUS	629	1,100	1,000	$100 Decrease From 2016/2017 Budget	
POSTAGE	88	300	300	No Change From 2016/2017 Budget	
OFFICE SUPPLIES	449	650	650	No Change From 2016/2017 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2016/2017 Budget	
TRUSTEE FEES	3,091	3,350	3,350	No Change From 2016/2017 Budget	
CONTINUING DISCLOSURE FEE	500	500	500	No Change From 2016/2017 Budget	
WEBSITE MANAGEMENT	1,500	1,000	1,000	No Change From 2016/2017 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	62,674	$	70,809	$	70,685		
					
TOTAL EXPENDITURES	$	63,374	$	81,809	$	81,685		
					
REVENUES LESS EXPENDITURES	$	232,331	$	213,378	$	213,119		
					
BOND PAYMENTS	(203,070)	(203,520)	(200,738)	2018 P & I Payments Less Earned Interest	
					
BALANCE	$	29,261	$	9,858	$	12,381		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(2,849)	(5,903)	(5,894)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(10,624)	(11,805)	(11,787)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	15,788	$	(7,850)	$	(5,300)		
					
CARRYOVER FROM PRIOR YEAR	0	7,850	5,300	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	15,788	$	-	$	-		

5/3/2017 10:16 AM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET PENTATHLON COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2015/2016 ACTUAL	FISCAL YEAR 2016/2017 BUDGET	FISCAL YEAR 2017/2018 BUDGET	

COMMENTS	

Interest Income	
15	
50	
50	
Projected Interest For 2017/2018	

NAV Tax Collection	
203,070	
203,520	
200,738	

2018 P & I Payments Less Earned Interest	

Total Revenues	
$	203,085	
$	203,570	
$	200,788		

EXPENDITURES					

Principal Payments	
100,000	
105,000	
105,000	
Principal Payment Due In 2018	

Interest Payments	
102,370	
98,570	
95,788	
Interest Payments Due In 2018	

Total Expenditures	
$	202,370	
$	203,570	
$	200,788		

Excess/ (Shortfall)	
$	715	
$	-	
$	-		

Series 2012 Refunding Bonds Information

Original Par Amount =	$2,780,000	Annual Principal Payments Due =	November 1st	
Interest Rate =	1.25% - 4.5%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	April 2012			
Maturity Date =	November 2033			

5/3/2017 10:16 AM	III

Pentathlon Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2014/2015	2015/2016	2016/2017	2017/2018	
 	Assessment*		   Assessment* 	 	Assessment*		 	Assessment*		   Projected Assessment* 	

Administrative	
$	144.88	
$	93.01	
$	124.96	
$	130.18	
$	135.08	
Maintenance/Infrastructure	$	-	$	109.10	$	33.12	$	22.77	$	22.77	
Debt	$	505.12	$	421.27	$	416.16	$	421.23	$	415.47	
Total	$	650.00	$	623.38	$	574.24	$	574.18	$	573.32	

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

Community Information:
Total Units	514

5/3/2017 10:16 AM	IV