Principal One Community Development District

Final Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019 BUDGET	
O & M Assessments	57,771	
Debt Assessments	230,537	
Other Revenues	0	
Interest Income	120	
		
TOTAL REVENUES	$	288,428	
		
EXPENDITURES		
Engineering/Inspections	2,500	
Supervisor Fees	0	
Management	24,912	
Legal	3,000	
Assessment Roll	5,000	
Audit Fees	3,900	
Insurance	6,356	
Legal Advertisements	600	
Miscellaneous	1,000	
Postage	225	
Office Supplies	475	
Dues & Subscriptions	175	
Trustee Fee	2,500	
Continuing Disclosure Fee	300	
Website Management	1,500	
Contingency	827	
		
TOTAL EXPENDITURES	$	53,270	
		
REVENUES LESS EXPENDITURES	$	235,158	
		
Bond Payments	(212,094)	
		
BALANCE	$	23,064	
		
County Appraiser & Tax Collector Fees	(11,532)	
Discounts For Early Payments	(11,532)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

6/13/2018 10:29 AM	I

DETAILED FINAL BUDGET
PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2016/2017 ACTUAL	
FISCAL YEAR 2017/2018 BUDGET	
FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	
O & M Assessments	58,126	57,771	57,771	Expenditures Less Interest & Carryover/.92	
Debt Assessments	230,538	230,537	230,537	Bond Payments/.92	
Other Revenues	0	0	0		
Interest Income	112	120	120	Projected At $10.00 Per Month	
					
TOTAL REVENUES	$	288,776	$	288,428	$	288,428		
					
EXPENDITURES					
Engineering/Inspections	1,760	2,500	2,500	No Change From 2017/2018 Budget	
Supervisor Fees	0	0	0	No Change From 2017/2018 Budget	
Management	23,916	24,408	24,912	CPI Adjustment	
Legal	2,505	3,500	3,000	$500 Decrease From 2017/2018 Budget	
Assessment Roll	5,000	5,000	5,000	No Change From 2017/2018 Budget	
Audit Fees	3,700	3,800	3,900	$100 Increase From 2017/2018 Budget	
Insurance	5,778	6,400	6,356	Insurance Company Estimate	
Legal Advertisements	191	650	600	$50 Decrease From 2017/2018 Budget	
Miscellaneous	707	1,000	1,000	No Change From 2017/2018 Budget	
Postage	115	225	225	No Change From 2017/2018 Budget	
Office Supplies	220	500	475	$25 Decrease From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fee	2,500	2,500	2,500	No Change From 2017/2018 Budget	
Continuing Disclosure Fee	350	300	300	No Change From 2017/2018 Budget	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	
Contingency	0	812	827	Contingency	
					
TOTAL EXPENDITURES	$	48,417	$	53,270	$	53,270		
					
REVENUES LESS EXPENDITURES	$	240,359	$	235,158	$	235,158		
					
Bond Payments	(214,160)	(212,094)	(212,094)	2019 P & I Payments Less Earned Interest	
					
BALANCE	$	26,199	$	23,064	$	23,064		
					
County Appraiser & Tax Collector Fees	(9,736)	(11,532)	(11,532)	Four Percent Of Total Assessment Roll	
Discounts For Early Payments	(10,481)	(11,532)	(11,532)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	5,982	$	-	$	-		
					
Carryover From Prior Year	0	0	0	Carryover Balance From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	5,982	$	-	$	-		

6/13/2018 10:29 AM	II

DETAILED FINAL DEBT SERVICE BUDGET
PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2016/2017 ACTUAL	FISCAL YEAR 2017/2018 BUDGET	FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	

Interest Income	
340	
75	
75	
Projected Interest For 2018/2019	

NAV Tax Collection	
214,160	
212,094	
212,094	
Maximum Debt Service Collection	

Total Revenues	
$	214,500	
$	212,169	
$	212,169		

EXPENDITURES					

Principal Payments	
130,000	
135,000	
140,000	
Principal Payment Due In 2019	

Interest Payments	
76,038	
75,556	
71,775	
Interest Payments Due In 2019	

Bond Redemption	
0	
1,613	
394	
Estimated Excess Debt Collections	

Total Expenditures	
$	206,038	
$	212,169	
$	212,169		

Excess/ (Shortfall)	
$	8,462	
$	-	
$	-		

Series 2016 Bond Refunding Information
Original Par Amount =	$2,945,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	2.75%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	May 2016			
Maturity Date =

Par Amount As Of 1/1/18 =	May 2035

$2,815,000			

6/13/2018 10:29 AM	III

Principal One Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2015/2016	2016/2017	2017/2018	2018/2019	
   Assessment* 	   Assessment* 	   Assessment* 	   Assessment* 	  Projected Assessment*	
O & M	$	132.98	$	121.64	$	131.30	$	131.30	$	131.30	
Debt	$	617.02	$	626.78	$	523.95	$	523.95	$	523.95	
Total	$	750.00	$	748.42	$	655.25	$	655.25	$	655.25	

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

Community Information:		 Total Units	440

6/13/2018 10:29 AM	IV