Pentathlon Community Development District

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

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
PENTATHLON COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
ADMINISTRATIVE ASSESSMENTS	66,927	
MAINTENANCE/INFRASTRUCTURE IMPROVEMENT ASSESSMENTS	10,638	
DEBT ASSESSMENTS	216,828	
INTEREST INCOME	300	
		
TOTAL REVENUES	$	294,693	
		
EXPENDITURES		
MAINTENANCE/INFRASTRUCTURE IMPROVEMENTS		
IMPROVEMENT CONTINGENCY	9,000	
ENGINEERING/INSPECTIONS	1,000	
TOTAL MAINTENANCE/INFRASTRUCTURE IMPROVEMENTS	$	10,000	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	6,000	
PAYROLL TAXES (EMPLOYER)	480	
MANAGEMENT	30,600	
SECRETARIAL	3,000	
LEGAL	8,000	
ASSESSMENT ROLL	6,000	
AUDIT FEES	3,300	
INSURANCE	6,356	
LEGAL ADVERTISING	650	
MISCELLANEOUS	1,000	
POSTAGE	300	
OFFICE SUPPLIES	600	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	3,500	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	1,500	
		
TOTAL ADMINISTRATIVE EXPENDITURES	$	71,811	
		
TOTAL EXPENDITURES	$	81,811	
		
REVENUES LESS EXPENDITURES	$	212,882	
		
BOND PAYMENTS	(203,818)	
		
BALANCE	$	9,064	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(5,888)	
DISCOUNTS FOR EARLY PAYMENTS	(11,776)	
		
EXCESS/ (SHORTFALL)	$	(8,600)	
		
CARRYOVER FROM PRIOR YEAR	8,600	
		
NET EXCESS/ (SHORTFALL)	$	-	

3/15/2019  8:53 AM	I

DETAILED PROPOSED BUDGET
PENTATHLON COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018 ACTUAL	
FISCAL YEAR 2018/2019 BUDGET	
FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	69,868	68,678	66,927	Expenditures Less Interest & Carryover/.94	
MAINTENANCE/INFRASTRUCTURE IMPROVEMENT ASSESSMENTS	11,703	10,638	10,638	Expenditures/.94	
DEBT ASSESSMENTS	213,552	215,359	216,828	Bond Payments/.94	
INTEREST INCOME	508	240	300	Interest Projected At $20 Per Month	
					
TOTAL REVENUES	$	295,631	$	294,915	$	294,693		
					
EXPENDITURES					
MAINTENANCE/INFRASTRUCTURE IMPROVEMENTS					
IMPROVEMENT CONTINGENCY	0	9,000	9,000	Improvement Contingency	
ENGINEERING/INSPECTIONS	850	1,000	1,000	No Change From 2018/2019 Budget	
TOTAL MAINTENANCE/INFRASTRUCTURE IMPROVEMENTS	$	850	$	10,000	$	10,000		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	2,800	6,000	6,000	No Change From 2018/2019 Budget	
PAYROLL TAXES (EMPLOYER)	214	480	480	Projected At 8% Of Supervisor Fees	
MANAGEMENT	29,424	30,036	30,600	CPI Adjustment	
SECRETARIAL	3,000	3,000	3,000	No Change From 2018/2019 Budget	
LEGAL	6,830	8,000	8,000	No Change From 2018/2019 Budget	
ASSESSMENT ROLL	6,000	6,000	6,000	No Change From 2018/2019 Budget	
AUDIT FEES	3,800	3,900	3,300	$600 Decrease From 2018/2019 Budget	
INSURANCE	5,778	6,356	6,356	Insurance Estimate	
LEGAL ADVERTISING	345	650	650	No Change From 2018/2019 Budget	
MISCELLANEOUS	378	1,000	1,000	No Change From 2018/2019 Budget	
POSTAGE	107	325	300	$25 Decrease From 2018/2019 Budget	
OFFICE SUPPLIES	355	625	600	$25 Decrease From 2018/2019 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2018/2019 Budget	
TRUSTEE FEES	3,091	3,500	3,500	Trustee (US Bank) Increased Fees In 2018/2019	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2018/2019 Budget	
WEBSITE MANAGEMENT	1,000	1,000	1,500	$500 Increase From 2018/2019 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	63,647	$	71,397	$	71,811		
					
TOTAL EXPENDITURES	$	64,497	$	81,397	$	81,811		
					
REVENUES LESS EXPENDITURES	$	231,134	$	213,518	$	212,882		
					
BOND PAYMENTS	(203,840)	(202,438)	(203,818)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$	27,294	$	11,080	$	9,064		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(2,844)	(5,893)	(5,888)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(10,572)	(11,787)	(11,776)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	13,878	$	(6,600)	$	(8,600)		
					
CARRYOVER FROM PRIOR YEAR	0	6,600	8,600	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	13,878	$	-	$	-		

3/15/2019 8:53 AM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
PENTATHLON COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
2,717	
200	
300	
Projected Interest For 2019/2020	

NAV Tax Collection	

203,840	

202,438	

203,818	

2020 P & I Payments Less Earned Interest	

Total Revenues	

$	206,557	

$	202,638	

$	204,118		

EXPENDITURES					

Principal Payments	

105,000	

110,000	

115,000	

Principal Payment Due In 2020	

Interest Payments	

97,179	

92,638	

89,118	

Interest Payments Due In 2020	

Total Expenditures	

$	202,179	

$	202,638	

$	204,118		

Excess/ (Shortfall)	

$	4,378	

$	-	

$	-		

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 =

Par Amount As Of 1/1/19 =	November 2033

$2,180,000			

3/15/2019 8:53 AM	III

Pentathlon Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2016/2017	2017/2018	2018/2019	2019/2020	
 	Assessment*		   Assessment* 	 	Assessment*		 	Assessment*		   Projected Assessment* 	

Administrative	
$	144.88	
$	130.18	
$	135.08	
$	133.61	
$	130.21	
Maintenance/Infrastructure	$	-	$	22.77	$	22.77	$	20.70	$	20.70	
Debt	$	505.12	$	421.23	$	415.47	$	418.99	$	421.85	
Total	$	650.00	$	574.18	$	573.32	$	573.30	$	572.76	

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

Community Information:
Total Units	514

3/15/2019 8:53 AM	IV