CityPlace 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

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

REVENUES	
FISCAL YEAR 2017/2018
BUDGET	
Assessments - Administrative	124,312	
Assessments - Maintenance	2,637,570	
Parking Revenue	5,045,160	
Sponsor & Promotion Revenue	108,300	
Rental Income	45,000	
Tenant CAM Reimbursement	712,900	
Interest Income	180	
		
TOTAL REVENUES	$	8,673,422	
		
EXPENDITURES		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	4,000	
Payroll Taxes (Employer)	320	
Engineering	2,000	
Management Fee	37,980	
Legal	7,500	
Audit Fees	8,600	
Arbitrage Rebate Fee	950	
Insurance	48,667	
Legal Advertising	1,400	
Bank Service Charges	350	
Miscellaneous	1,200	
Postage	250	
Office Supplies	500	
Dues & Subscriptions	175	
Trustee Fees	8,100	
Continuing Disclosure Fee	1,000	
Website Management	1,500	
		
TOTAL ADMINISTRATIVE EXPENDITURES	$	124,492	
		
MAINTENANCE EXPENDITURES		
Palladium CDD Property		
Parking Expenses	2,300,000	
Administrative	450,000	
Payroll	713,500	
Professional Fees	75,000	
Sweeping and Cleaning	465,000	
Utilities	795,000	
Insurance	65,000	
Landscaping And Irrigation	247,900	
Contracted Services	170,000	
Repairs & Maintenance	175,000	
Security	2,100,000	
Marketing	440,000	
Management Fee	200,000	
Plaza CDD Property		
Plaza Entertainment	325,000	
Signage	27,530	
		
TOTAL MAINTENANCE EXPENDITURES	$	8,548,930	
		
TOTAL EXPENDITURES	$	8,673,422	
		
EXCESS/ (SHORTFALL)	$	-	

8/2/2017 11:54 AM	I

DETAILED FINAL BUDGET
CITYPLACE 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	
Assessments - Administrative	120,297	123,475	124,312	Administrative Expenditures Less Interest	
Assessments - Maintenance	2,104,418	2,462,570	2,637,570	$175,000 Increase From 2016/2017 Budget	
Parking Revenue	4,668,334	5,045,160	5,045,160	No Change From 2016/2017 Budget	
Sponsor & Promotion Revenue	74,524	108,300	108,300	No Change From 2016/2017 Budget	
Rental Income	41,827	45,000	45,000	No Change From 2016/2017 Budget	
Tenant CAM Reimbursement	589,138	812,900	712,900	$100,000 Decrease From 2016/2017 Budget	
Interest Income	201	120	180	Projected At $15 Per Month	
					
TOTAL REVENUES	$	7,598,739	$	8,597,525	$	8,673,422		
					
EXPENDITURES					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	2,200	4,000	4,000	Projected At Four Meetings Per Year	
Payroll Taxes (Employer)	168	320	320	Projected At 8% Of Supervisor Fees	
Engineering	0	2,000	2,000	No Change From 2016/2017 Budget	
Management Fee	36,948	37,200	37,980	CPI Adjustment	
Legal	4,511	8,000	7,500	$500 Decrease From 2016/2017 Budget	
Audit Fees	8,200	8,400	8,600	$200 Decrease From 2016/2017 Budget	
Arbitrage Rebate Fee	950	950	950	No Change From 2016/2017 Budget	
Insurance	43,376	48,000	48,667	Insurance Company Estimate	
Legal Advertising	1,163	1,400	1,400	No Change From 2016/2017 Budget	
Bank Service Charges	328	350	350	No Change From 2016/2017 Budget	
Miscellaneous	565	1,200	1,200	No Change From 2016/2017 Budget	
Postage	108	250	250	No Change From 2016/2017 Budget	
Office Supplies	240	550	500	$50 Decrease From 2016/2017 Budget	
Dues & Subscriptions	175	175	175	No Change From 2016/2017 Budget	
Trustee Fees	7,005	8,300	8,100	$200 Decrease From 2016/2017 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2016/2017 Budget	
Website Management	1,500	1,500	1,500	No Change From 2016/2017 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	108,437	$	123,595	$	124,492		
					
MAINTENANCE EXPENDITURES					
Palladium CDD Property					
Parking Expenses	2,128,626	2,300,000	2,300,000	No Change From 2016/2017 Budget	
Administrative	417,519	450,000	450,000	No Change From 2016/2017 Budget	
Payroll	513,760	713,500	713,500	No Change From 2016/2017 Budget	
Professional Fees	44,149	75,000	75,000	No Change From 2016/2017 Budget	
Sweeping and Cleaning	461,739	385,000	465,000	$80,000 Increase From 2016/2017 Budget	
Utilities	707,520	825,000	795,000	$30,000 Decrease From 2016/2017 Budget	
Insurance	44,783	65,000	65,000	No Change From 2016/2017 Budget	
Landscaping And Irrigation	228,183	247,900	247,900	No Change From 2016/2017 Budget	
Contracted Services	173,921	170,000	170,000	No Change From 2016/2017 Budget	
Repairs & Maintenance	171,182	175,000	175,000	No Change From 2016/2017 Budget	
Security	1,661,049	2,100,000	2,100,000	No Change From 2016/2017 Budget	
Marketing	404,122	440,000	440,000	No Change From 2016/2017 Budget	
Management Fee	200,000	200,000	200,000	No Change From 2016/2017 Budget	
Plaza CDD Property					
Plaza Entertainment	307,486	300,000	325,000	$25,000 Increase From 2016/2017 Budget	
Signage	14,202	27,530	27,530	No Change From 2016/2017 Budget	
					
TOTAL MAINTENANCE EXPENDITURES	$	7,478,241	$	8,473,930	$	8,548,930		
					
TOTAL EXPENDITURES	$	7,586,678	$	8,597,525	$	8,673,422		
					
EXCESS/ (SHORTFALL)	$	12,061	$	-	$	-		

8/2/2017 11:54 AM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET CITYPLACE 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	

9,248	

650	

2,000	

Projected Interest For 2017/2018	

Tax Incremental Revenues	

3,944,010	

3,944,010	

4,131,937	

Projected 2018 TIF - 2017 TIF Was $4,131,937	

Developer Contributions	

0	

259,965	

71,563	

2018 P & I Payments Less Earned Interest & TIF	

Total Revenues	

$	3,953,258	

$	4,204,625	

$	4,205,500		

EXPENDITURES					

Principal Payments	

1,925,000	

2,615,000	

2,750,000	

Principal Payment Due In 2018	

Interest Payments	

1,751,250	

1,589,625	

1,455,500	

Interest Payments Due In 2018	

Total Expenditures	

$	3,676,250	

$	4,204,625	

$	4,205,500		

Excess/ (Shortfall)	

$	277,008	

$	-	

$	-		

Series 2012 Bond Refunding Information

Original Par Amount =	$39,890,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	5.00%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	April 2012			
Maturity Date =	May 2026			

8/2/2017  11:54 AM	III