CityPlace 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

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

REVENUES	
FISCAL YEAR 2018/2019
BUDGET	
Assessments - Administrative	143,592	
Assessments - Maintenance	2,757,570	
Parking Revenue	5,045,160	
Sponsor & Promotion Revenue	108,300	
Rental Income	45,000	
Tenant CAM Reimbursement	662,900	
Interest Income	0	
		
TOTAL REVENUES	$	8,762,522	
		
EXPENDITURES		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	4,000	
Payroll Taxes (Employer)	320	
Engineering	5,000	
Management Fee	38,772	
Legal	9,000	
Audit Fees	8,600	
Arbitrage Rebate Fee	950	
Insurance	55,000	
Legal Advertising	1,400	
Bank Service Charges	425	
Miscellaneous	1,200	
Postage	250	
Office Supplies	500	
Dues & Subscriptions	175	
Trustee Fees	14,000	
Continuing Disclosure Fee	2,500	
Website Management	1,500	
		
TOTAL ADMINISTRATIVE EXPENDITURES	$	143,592	
		
MAINTENANCE EXPENDITURES		
Palladium CDD Property		
Parking Expenses	2,300,000	
Administrative	450,000	
Payroll	713,500	
Professional Fees	95,000	
Sweeping and Cleaning	465,000	
Utilities	825,000	
Insurance	65,000	
Landscaping And Irrigation	247,900	
Contracted Services	170,000	
Repairs & Maintenance	185,000	
Security	2,100,000	
Marketing	450,000	
Management Fee	200,000	
Plaza CDD Property		
Plaza Entertainment	325,000	
Signage	27,530	
		
TOTAL MAINTENANCE EXPENDITURES	$	8,618,930	
		
TOTAL EXPENDITURES	$	8,762,522	
		
EXCESS/ (SHORTFALL)	$	-	

8/1/2018 4:46 PM	I

DETAILED FINAL BUDGET
CITYPLACE 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	
Assessments - Administrative	100,939	124,312	143,592	Administrative Expenditures Less Interest	
Assessments - Maintenance	2,114,384	2,637,570	2,757,570	$120,000 Increase From 2017/2018 Budget	
Parking Revenue	4,640,262	5,045,160	5,045,160	No Change From 2017/2018 Budget	
Sponsor & Promotion Revenue	57,647	108,300	108,300	No Change From 2017/2018 Budget	
Rental Income	40,954	45,000	45,000	No Change From 2017/2018 Budget	
Tenant CAM Reimbursement	403,785	712,900	662,900	$50,000 Decrease From 2017/2018 Budget	
Interest Income	352	180	0	Projected At $15 Per Month	
					
TOTAL REVENUES	$	7,358,323	$	8,673,422	$	8,762,522		
					
EXPENDITURES					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	1,400	4,000	4,000	Projected At Four Meetings Per Year	
Payroll Taxes (Employer)	107	320	320	Projected At 8% Of Supervisor Fees	
Engineering	0	2,000	5,000	$3,000 Increase From 2017/2018 Budget	
Management Fee	37,200	37,980	38,772	CPI Adjustment	
Legal	4,605	7,500	9,000	$1,500 Increase From 2017/2018 Budget	
Audit Fees	8,400	8,600	8,600	Accepted Amount For 2017/2018 Audit	
Arbitrage Rebate Fee	950	950	950	No Change From 2017/2018 Budget	
Insurance	44,243	48,667	55,000	Insurance Estimate	
Legal Advertising	1,276	1,400	1,400	No Change From 2017/2018 Budget	
Bank Service Charges	389	350	425	$75 Increase From 2017/2018 Budget	
Miscellaneous	398	1,200	1,200	No Change From 2017/2018 Budget	
Postage	64	250	250	No Change From 2017/2018 Budget	
Office Supplies	186	500	500	No Change From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fees	6,620	8,100	14,000	Increased Due To Projected Second Bond	
Continuing Disclosure Fee	1,000	1,000	2,500	Increased Due To Projected Second Bond	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	108,513	$	124,492	$	143,592		
					
MAINTENANCE EXPENDITURES					
Palladium CDD Property					
Parking Expenses	1,910,063	2,300,000	2,300,000	No Change From 2017/2018 Budget	
Administrative	374,871	450,000	450,000	No Change From 2017/2018 Budget	
Payroll	612,802	713,500	713,500	No Change From 2017/2018 Budget	
Professional Fees	90,484	75,000	95,000	$20,000 Increase From 2017/2018 Budget	
Sweeping and Cleaning	421,733	465,000	465,000	No Change From 2017/2018 Budget	
Utilities	818,253	795,000	825,000	$30,000 Increase From 2017/2018 Budget	
Insurance	41,802	65,000	65,000	No Change From 2017/2018 Budget	
Landscaping And Irrigation	207,086	247,900	247,900	No Change From 2017/2018 Budget	
Contracted Services	145,114	170,000	170,000	No Change From 2017/2018 Budget	
Repairs & Maintenance	174,955	175,000	185,000	$10,000 Increase From 2017/2018 Budget	
Security	1,501,303	2,100,000	2,100,000	No Change From 2017/2018 Budget	
Marketing	447,947	440,000	450,000	$10,000 Increase From 2017/2018 Budget	
Management Fee	200,000	200,000	200,000	No Change From 2017/2018 Budget	
Plaza CDD Property					
Plaza Entertainment	295,179	325,000	325,000	No Change From 2017/2018 Budget	
Signage	15,438	27,530	27,530	No Change From 2017/2018 Budget	
					
TOTAL MAINTENANCE EXPENDITURES	$	7,257,030	$	8,548,930	$	8,618,930		
					
TOTAL EXPENDITURES	$	7,365,543	$	8,673,422	$	8,762,522		
					
EXCESS/ (SHORTFALL)	$	(7,220)	$	-	$	-		

8/1/2018 4:46 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET CITYPLACE 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	
34,138	
2,000	
5,000	
Projected Interest For 2018/2019	

Tax Incremental Revenues	
4,131,937	
4,131,937	
4,283,429	
Projected 2019 TIF - 2018 TIF Was $4,283,429	

Developer Contributions	
0	
71,563	
0	
TIF Projected To Be More Than P&I Payments	

Total Revenues	
$	4,166,075	
$	4,205,500	
$	4,288,429		

EXPENDITURES					

Principal Payments	
2,615,000	
2,750,000	
2,890,000	
Principal Payment Due In 2019	

Interest Payments	
1,655,000	
1,455,500	
1,314,500	
Interest Payments Due In 2019	

Bond Redemption	
0	
0	
83,929	
Estimated Excess Debt Collections	

Total Expenditures	
$	4,270,000	
$	4,205,500	
$	4,288,429		

Excess/ (Shortfall)	
$	(103,925)	
$	-	
$	-		

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 = Maturity Date =	April 2012
May 2026			

Par Amount As Of 1/1/18 =	
$30,485,000			

8/1/2018 4:46 PM	III