City Place Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
CITY PLACE COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2017/2018 OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2017/2018 BUDGET
10/1/17 - 9/30/18	AMENDED FINAL BUDGET
10/1/17 - 9/30/18	YEAR  TO DATE ACTUAL
10/1/17 - 9/29/18	
Assessments - Administrative	124,312	145,068	145,068	
Assessments - Maintenance	2,637,570	3,856,355	3,856,355	
Parking Revenue	5,045,160	7,567,740	7,567,740	
Sponsor & Promotion	108,300	162,450	162,450	
Rental Income	45,000	67,500	67,500	
Tenant CAM Reimbursement	712,900	1,069,350	1,069,350	
Other Revenuie	0	12,950	12,950	
Interest Income	180	592	592	
				
TOTAL REVENUES	$	8,673,422	$	12,882,005	$	12,882,005	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	4,000	8,400	8,400	
Payroll Taxes - Employer	320	643	643	
Engineering	2,000	12,950	12,950	
Management Fee	37,980	37,980	37,980	
Legal	7,500	40,915	40,915	
Audit Fees	8,600	8,500	8,500	
Arbitrage Rebate Fee	950	950	950	
Insurance	48,667	44,243	44,243	
Legal Advertising	1,400	6,200	4,727	
Bank Service Charges	350	346	346	
Miscellanous	1,200	1,800	955	
Postage	250	110	104	
Office Supplies	500	725	681	
Dues & Subscriptions	175	175	175	
Trustee Fees	8,100	6,097	6,097	
Continuing Disclosure Fee	1,000	1,000	1,000	
Website Management	1,500	1,500	1,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	124,492	$	172,534	$	170,166	
				
MAINTENANCE EXPENDITURES				
Palladium CDD Property				
Parking Expense	2,300,000	3,450,000	3,450,000	
Administrative	450,000	675,000	675,000	
Payroll	713,500	1,070,250	1,070,250	
Professional Fees	75,000	112,500	112,500	
Sweeping and Cleaning	465,000	697,500	697,500	
Utilities	795,000	1,192,500	1,192,500	
Insurance	65,000	97,500	97,500	
Landscaping & Irrigation	247,900	371,850	371,850	
Contracted Services	170,000	255,000	255,000	
Repairs & Maintenance	175,000	262,500	262,500	
Security	2,100,000	3,150,000	3,150,000	
Marketing	440,000	660,000	660,000	
Management Fee	200,000	200,000	200,000	
Plaza CDD Property				
Plaza Entertainment	325,000	487,500	487,500	
Signage	27,530	41,295	41,295	
				
TOTAL MAINTENANCE EXPENDITURES	$	8,548,930	$	12,723,395	$	12,723,395	
				
TOTAL EXPENDITURES	$	8,673,422	$	12,895,929	$	12,893,561	
				
EXCESS/ (SHORTFALL)	$	-	$	(13,924)	$	(11,556)	

Fund Balance As Of 9/30/2017	
FY 2017/2018 Activity	
Fund Balance As Of 9/30/2018	

$102,945	
($13,924)	
$89,021	

Note
Maintenance (Non-Management) Line Items Are Allocated At 150 Percent Of Fiscal Year 2017/2018 Budget. Engineering Expenses Of $12,950 Will Be Reimbursed To The District Via Series 2018 Bond Cost Of Issuance

10/31/2018  2:29 PM	I

AMENDED FINAL BUDGET
CITY PLACE COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2017/2018 OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2017/2018 BUDGET 10/1/17 - 9/30/18	AMENDED FINAL BUDGET
10/1/17 - 9/30/18	YEAR TO DATE ACTUAL
10/1/17 - 9/29/18	
Interest Income	2,000	87,260	87,260	
Tax Incremental Revenues	4,131,937	4,283,429	4,283,429	
Tax Coverage Revenues	0	3,071,316	3,071,316	
Developer Contributions	71,563	0	0	
				
Total Revenues	$	4,205,500	$	7,442,005	$	7,442,005	
				
EXPENDITURES				
Principal Payments	2,750,000	2,750,000	2,750,000	
Interest Payments	1,455,500	1,524,250	1,524,250	
Excess Revenue Payment	0	3,078,600	3,078,600	
				
Total Expenditures	$	4,205,500	$	7,352,850	$	7,352,850	
				
Excess/ (Shortfall)	$	-	$	89,155	$	89,155	

Fund Balance As Of 9/30/2017	
FY 2017/2018 Activity	
Fund Balance As Of 9/30/2018	

$5,299,386	
$89,155	
$5,388,541	

Notes
Reserve Fund Balance = $4,207,875*. Revenue Fund Balance = $1,180,385*. Revenue Fund Balance To Be Used To Make 11/1/2018 Interest Payment Of $693,375.
* Approximate Amounts

Series 2012 Refunding Bonds Information		
Original Par Amount =	$39,890,000	Annual Principal Payments Due:	
Interest Rate =	5.00%	May 1st	
Issue Date =	April 2012	Annual Interest Payments Due:	
Maturity Date =	May 2026	May 1st & November 1st	
Par Amount As Of 9/30/18 =	$27,735,000		

10/31/2018 2:29 PM	II