Ave Maria Stewardship Community District

Amended Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FY 2020/2021 AMENDED FINAL BUDGET

TABLE OF CONTENTS

Budget Summary
Amended Final Budget	1
Amended Final Maintenance Budget	2
Debt Service
Amended Final Series 2019 Debt Service Fund Budget	3
Amended Final Series 2012 Debt Service Fund Budget	4
Amended Final Series 2015 (Maple Ridge) Debt Service Fund Budget	5
Amended Final Series 2016 (Maple Ridge) Debt Service Fund Budget	6
Amended Final Series 2016 (BANS) Debt Service Fund Budget	7
Amended Final Series 2018 (Maple Ridge) Debt Service Fund Budget	8
Amended Final Series 2020 (Maple Ridge) Debt Service Fund Budget	9
Amended Final Series 2021 (Ave Maria National) Debt Service Fund Budget	10
Amended Final Series 2021 (Master) Debt Service Fund Budget	11
Amended Final Series 2021 (BANS) Debt Service Fund Budget	12

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT OPERATING FUND
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021
ANNUAL BUDGET	
FISCAL YEAR 2020/2021
AMENDED FINAL BUDGET	
YEAR TO DATE ACTUALS
10/1/2020 - 9/29/2021	
DIFFERENCE BETWEEN ACTUALS AND BUDGET	
O & M ASSESSMENTS	1,264,670	1,265,455	1,265,455	785	
DEBT ASSESSMENTS	4,012,233	3,825,900	3,825,900	(186,333)	
DEVELOPER CONTRIBUTION FOR O & M	1,289,378	1,819,170	1,719,170	429,792	
DEVELOPER CONTRIBUTION FOR DEBT	12,309,101	948,585	948,585	(11,360,516)	
OTHER REVENUES	0	1,813	1,813	1,813	
INTEREST INCOME	1	515	515	514	
					
TOTAL REVENUES	$	18,875,383	$	7,861,438	$	7,761,438	(11,113,945)	
					
EXPENDITURES					
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISORS FEES	8,000	8,000	8,000	-	
PAYROLL TAX EXPENSE	612	612	612	-	
ENGINEERING	55,000	55,000	49,916	5,084	
MANAGEMENT	70,216	70,216	70,216	-	
SECRETARIAL	4,500	4,500	4,500	-	
LEGAL	60,000	70,000	58,695	1,305	
ASSESSMENT ROLL	15,000	15,000	15,000	-	
AUDIT FEES	13,000	13,400	13,400	(400)	
ARBITRAGE REBATE FEE	3,250	3,250	2,600	650	
TRAVEL & LODGING	4,000	3,500	3,174	826	
INSURANCE	11,870	10,417	10,417	1,453	
LEGAL ADVERTISING	5,000	8,500	7,144	(2,144)	
MISCELLANEOUS	4,000	4,000	3,771	229	
POSTAGE	1,750	1,895	1,888	(138)	
OFFICE SUPPLIES	3,500	2,500	2,182	1,318	
DUES, LICENSE, & SUBSCRIPTIONS	500	175	175	325	
MISCELLANEOUS FILINGS, NOTICES, ETC.	500	0	0	500	
WEBSITE HOSTING FEES	2,500	2,500	2,500	-	
TRUSTEE FEES	27,000	30,107	30,107	(3,107)	
METHODOLOGY REPORT	0	2,500	2,500	(2,500)	
CONTINUING DISCLOSURE FEE	9,000	9,500	9,500	(500)	
TOTAL ADMINISTRATIVE EXPENDITURES	$	299,198	$	315,572	$	296,297	$	2,901	
					
MAINTENANCE EXPENDITURES					
MAINTENANCE	2,160,000	2,772,264	2,595,330	(435,330)	
TOTAL MAINTENANCE EXPENDITURES	$	2,160,000	$	2,772,264	$	2,595,330	(435,330)	
					
TOTAL EXPENDITURES	$	2,459,198	$	3,087,836	$	2,891,627	(432,429)	
					
EXCESS OR (SHORTFALL)	$	16,416,185	$	4,773,602	$	4,869,811	11,546,374	
					
BOND PAYMENTS	$	(16,020,417)	$	(4,552,989)	$	(4,552,989)	11,467,428	
					
BALANCE	$	395,768	$	220,613	$	316,822	78,946	
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(184,692)	(119,892)	(119,892)	64,800	
DISCOUNTS FOR EARLY PAYMENTS	(211,076)	(196,874)	(196,874)	14,202	
					
NET EXCESS/ (SHORTFALL)	$	-	$	(96,153)	$	56	(56)	

FUND BALANCE (LESS RESERVE) AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE (LESS RESERVE) AS OF 9/30/21	

$	138,021	
$	(96,153)	
$	41,868	

Note: Reserve Fund Balance As Of 9-30-21 is $235,481.

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT MAINTENANCE
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

	
FISCAL YEAR 2020/2021 ANNUAL BUDGET	
FISCAL YEAR 2020/2021
AMENDED FINAL BUDGET	
YEAR TO DATE ACTUALS
10/1/2020 - 9/29/2021	
DIFFERENCE BETWEEN ACTUALS
AND BUDGET	
MAINTENANCE EXPENDITURES					
					
IRRIGATION REPAIR	85,000	63,000	59,968	25,032	
MISCELLANEOUS MAINTENANCE	10,000	46,000	42,866	(32,866)	
ELECTRIC (STREETLIGHTS, LANDSCAPE)	85,000	83,814	83,814	1,186	
STREET SWEEPING	1,000	500	0	1,000	
STRIPING & TRAFFIC MARKINGS	25,000	2,500	195	24,805	
STREET LIGHT MAINTENANCE	60,000	87,000	83,470	(23,470)	
SIDEWALK / CURB REPAIRS	50,000	160,000	155,572	(105,572)	
LANDSCAPE MAINTENANCE (ROADWAY, ENTRIES):	30,000	5,000	0	30,000	
MAINTENANCE CONTRACTS	630,000	685,000	670,453	(40,453)	
TREE TRIMMING	30,000	52,000	48,815	(18,815)	
STORM CLEANUP	25,000	0	0	25,000	
STORM CLEANUP - ELECTRIC	25,000	0	0	25,000	
STORM CLEANUP - LANDSCAPING	25,000	0	0	25,000	
PLANT REPLACEMENT	70,000	177,000	173,101	(103,101)	
MULCH & MISCELLANEOUS	140,000	140,000	136,014	3,986	
WATER MANAGEMENT & DRAINAGE	4,000	4,000	3,300	700	
ENTRY FEATURE WATER	3,000	4,300	3,988	(988)	
MISCELLANEOUS UTILITIES	0	750	498	(498)	
IRRIGATION WATER	70,000	70,000	66,479	3,521	
FOUNTAIN MAINTENANCE	15,000	50,000	45,121	(30,121)	
RODENT/PEST CONTROL	4,000	17,000	14,293	(10,293)	
EQUIPMENT REPAIR	2,000	10,000	9,077	(7,077)	
SIGNAGE REPAIR	10,000	10,000	8,705	1,295	
STORM DRAIN CLEANING	10,000	5,000	0	10,000	
DRAINAGE / LAKE MAINTENANCE/ LITTORALS	75,000	62,000	56,293	18,707	
AERATORS	1,000	500	0	1,000	
PRESERVE MAINTENANCE	50,000	65,000	61,156	(11,156)	
SMALL TOOLS	2,500	5,200	4,933	(2,433)	
MISCELLANEOUS REPAIRS	0	500	374	(374)	
VEHICLE LEASE / FUEL / REPAIRS (MAINT TECH)	20,000	7,000	4,885	15,115	
MOSQUITO CONTROL	300,000	600,000	549,796	(249,796)	
TEMP FIRE FACILITY OPERATING COSTS	90,000	130,000	125,888	(35,888)	
ADMINISTRATIVE SUPPLIES	0	1,200	885	(885)	
MISCELLANEOUS OFFICE UTILITIES	0	4,500	3,771	(3,771)	
MAINTENANCE TECHNICIANS	100,000	104,000	99,809	191	
BASE MANAGEMENT FEE	20,000	22,000	20,250	(250)	
ADMIN PAYROLL	50,000	55,000	52,211	(2,211)	
TOTAL MAINTENANCE EXPENDITURES	$	2,117,500	$	2,729,764	$	2,585,980	(468,480)	
					
RESERVE FUND	27,500	27,500	0	27,500	
CONTINGENCY FUND	15,000	15,000	9,350	5,650	
					
TOTAL	$	2,160,000	$	2,772,264	$	2,595,330	(435,330)	

REVENUES	FISCAL YEAR 2020/2021 ANNUAL BUDGET	FISCAL YEAR 2020/2021
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2020 - 9/29/2021	
Interest Income (2019)	1,073	51	51	
Net NAV Collection (2019)	1,368,371	1,393,758	1,393,758	
Prepaid Bond Collection (2019)	0	9,724	9,724	
Total Revenues	$	1,369,444	$	1,403,533	$	1,403,533	
				
EXPENDITURES				
Principal Payments (2019)	885,000	885,000	885,000	
Interest Payments (2019)	484,444	493,294	493,294	
Extraordinary Principal Payments (19)	0	0	0	
Total Expenditures	$	1,369,444	$	1,378,294	$	1,378,294	
				
Net Excess/ (Shortfall)	$	-	$	25,239	$	25,239	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$642,790	
$25,239	
$668,029	

Notes
Reserve Fund Balance = $342,563*. Revenue Fund Balance = $315,088*. Prepayment Fund Balance = $10,378*.
Revenue Account Balance To Be Used To Make 11/1/2021 Interest Payment Of $237,797.
Prepayment Fund Balance To Be Used To Make 11/1/2021 Extraordinary Principal Payment Of $10,000.
* Approximate Amounts

Series 2019 Bond Refunding Information		
Original Par Amount =	$20,310,000	Annual Principal Payments Due:	
Interest Rate =	2.00% - 3.00%	May 1st	
Issue Date =	June 2019	Annual Interest Payments Due:	
Maturity Date =	May 2038	May 1st & November 1st	

Par Amount As Of 9/30/21 =	
$18,550,000		

REVENUES	FISCAL YEAR 2020/2021
ANNUAL BUDGET	FISCAL YEAR 2020/2021
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2020 - 9/29/2021	
Interest Income (2012)	100	178	178	
Net NAV Collection (2012)	1,010,593	1,554,388	1,554,388	
Developer Contribution (2012)	1,234,985	690,442	690,442	
Prepaid Bond Collection (2012)	0	13,290	13,290	
				
Total Revenues	$	2,245,678	$	2,258,298	$	2,258,298	
				
EXPENDITURES				
Principal Payments (2012)	535,000	535,000	535,000	
Extraordinary Principal Payments (2012)	0	10,000	10,000	
Interest Payments (2012)	1,710,678	1,728,265	1,728,265	
				
Total Expenditures	$	2,245,678	$	2,273,265	$	2,273,265	
				
Net Excess/ (Shortfall)	$	-	$	(14,967)	$	(14,967)	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$3,131,931	
($14,967)	
$3,116,964	

Notes
Reserve Fund Balance = $2,254,066*. Revenue Fund Balance = $846,043*. Prepayment Account Balance = $16,855*
Revenue Fund Balance To Be Used To Make 11/1/2021 Interest Payment Of $846,043.
Prepayment Fund Balance To Be Used To Make 11/1/2021 Extraordinary Principal Payment Of $15,000.
* Approximate Amounts - Revenue Account Balance Is As of 10/31/21.

Series 2012 Refunding Bond Information		
Original Par Amount =	$29,100,000	Annual Principal Payments Due:	
Interest Rate =	6.70%	May 1st	
Issue Date =	June 2012	Annual Interest Payments Due:	
Maturity Date =	May 2042	May 1st & November 1st	

Par Amount As Of 9/30/21 =	
$25,255,000		

REVENUES	FISCAL YEAR 2020/2021
ANNUAL BUDGET	FISCAL YEAR 2020/2021
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2020 - 9/29/2021	
Interest Income (2015)	100	18	18	
Net NAV Collection (2015)	163,890	166,913	166,913	
Developer Contribution (2015)	3,766	0	0	
Prepaid Bond Collection (2015)	0	79,780	79,780	
Total Revenues	$	167,756	$	246,711	$	246,711	
				
EXPENDITURES				
Principal Payments (2015)	45,000	45,000	45,000	
Extraordinary Principal Payments (2015)	0	75,000	75,000	
Interest Payments (2015)	122,756	122,756	122,756	
Total Expenditures	$	167,756	$	242,756	$	242,756	
				
Net Excess/ (Shortfall)	$	-	$	3,955	$	3,955	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$241,916	
$3,955	
$245,871	

Notes
Reserve Fund Balance = $168,419*. Revenue Fund Balance = $69,944*. Prepayment Account Balance = $7,508*
Revenue Fund Balance To Be Used To Make 11/1/2021 Interest Payment Of $58,284.
* Approximate Amounts

Series 2015 Bond Information		
Original Par Amount =	$2,530,000	Annual Principal Payments Due:	
Interest Rate =	5.000% - 5.375%	May 1st	
Issue Date =	February 2015	Annual Interest Payments Due:	
Maturity Date =	May 2045	May 1st & November 1st	

Par Amount As Of 9/30/21 =	
$2,205,000		

REVENUES	FISCAL YEAR 2020/2021
ANNUAL BUDGET	FISCAL YEAR 2020/2021
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2020 - 9/29/2021	
Interest Income (2016 - Bond)	100	15	15	
Net NAV Collection (2016 - Bond)	226,663	230,856	230,856	
Prepaid Bond Collection (2016 - Bond)	0	0	0	
Total Revenues	$	226,763	$	230,871	$	230,871	
				
EXPENDITURES				
Principal Payments (16 - Bond)	55,000	55,000	55,000	
Extraordinary Principal Payments (16 - Bond)	3,369	0	0	
Interest Payments (16 - Bond)	168,394	169,838	169,838	
Total Expenditures	$	226,763	$	224,838	$	224,838	
				
Net Excess/ (Shortfall)	$	-	$	6,033	$	6,033	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$216,248	
$6,033	
$222,281	

Notes
Reserve Fund Balance = $113,297*. Revenue Fund Balance = $108,950*. Prepayment Account Balance = $34*
Revenue Fund Balance To Be Used To Make 11/1/2021 Interest Payment Of $83,475.
* Approximate Amounts

Series 2016 Bond Information		
Original Par Amount =	$3,390,000	Annual Principal Payments Due:	
Interest Rate =	5.25%	May 1st	
Issue Date =	October 2016	Annual Interest Payments Due:	
Maturity Date =	May 2047	May 1st & November 1st	

Par Amount As Of 9/30/21 =	
$3,180,000		

REVENUES	FISCAL YEAR 2020/2021
ANNUAL BUDGET	FISCAL YEAR 2020/2021
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2020 - 9/29/2021	
Interest Income (2016 - BAN)	100	53	53	
Developer Contribution (2016 - BAN)	11,597,581	256,341	256,341	
Bond Refunding Proceeds (2016 - BAN)	0	10,828,659	10,828,659	
				
Total Revenues	$	11,597,681	$	11,085,053	$	11,085,053	
				
EXPENDITURES				
Principal Payments (2016 - BAN)	11,085,000	0	0	
Interest Payments (2016 - BAN)	512,681	512,681	512,681	
Transfer To Construction Fund (2016 - BAN)	0	52	52	
Total Expenditures	$	11,597,681	$	512,733	$	512,733	
				
Net Excess/ (Shortfall)	$	-	$	10,572,320	$	10,572,320	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$769,021	
$10,572,320	
$11,341,341	

Notes
Principal Account Balance = $11,085,000*. Interest Fund Balance = $256,341*.
Principal Account Balance To Be Used To Make 11/1/2021 Principal Payment Of $11,085,000. Interest Fund Balance To Be Used To Make 11/1/2021 Interest Payment Of $256,341.

Series 2016 BANS Information		
Original Par Amount =	$11,085,000	Annual Principal Payments Due:	
Interest Rate =	4.63%	N/A	
Issue Date =	October 2016	Annual Interest Payments Due:	
Maturity Date =	November 2021	May 1st & November 1st	

REVENUES	FISCAL YEAR 2020/2021
ANNUAL BUDGET	FISCAL YEAR 2020/2021
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2020 - 9/29/2021	
Interest Income (2018)	100	17	17	
Net NAV Collection (2018)	211,766	258,489	258,489	
Developer Contribution (2018)	54,377	1,802	1,802	
Prepaid Bond Collection (2018)	0	225,918	225,918	
Total Revenues	$	266,243	$	486,226	$	486,226	
				
EXPENDITURES				
Principal Payments (2018)	60,000	60,000	60,000	
Extraordinary Principal Payments (2018)	0	225,000	225,000	
Interest Payments (2018)	206,243	207,713	207,713	
Total Expenditures	$	266,243	$	492,713	$	492,713	
				
Net Excess/ (Shortfall)	$	-	$	(6,487)	$	(6,487)	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$212,001	
($6,487)	
$205,514	

Notes
Reserve Fund Balance = $108,151*. Revenue Fund Balance = $96,445*.
Revenue Fund Balance To Be Used To Make 11/1/2021 Interest Payment Of $96,445. Prepayment Account Balance = $918*
* Approximate Amounts - Revenue Account Balance Is As of 10/31/21.

Series 2018 Bond Information		
Original Par Amount =	$4,000,000	Annual Principal Payments Due:	
Interest Rate =	4.9% - 5.375%	May 1st	
Issue Date =	June 2018	Annual Interest Payments Due:	
Maturity Date =	May 2049	May 1st & November 1st	

REVENUES	FISCAL YEAR 2020/2021
ANNUAL BUDGET	FISCAL YEAR 2020/2021
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2020 - 9/29/2021	
Interest Income (2020)	0	18	18	
Net NAV Collection (2020)	0	0	0	
Developer Contribution (2020)	0	0	0	
Capitalized Interest (2020)	146,853	0	0	
Prepaid Bond Collection (2020)	0	0	0	
Total Revenues	$	146,853	$	18	$	18	
				
EXPENDITURES				
Principal Payments (2020)	0	0	0	
Interest Payments (2020)	146,853	116,258	116,258	
Transfer To Construction Fund (2020)	0	0	0	
Total Expenditures	$	146,853	$	116,258	$	116,258	
				
Net Excess/ (Shortfall)	$	-	$	(116,240)	$	(116,240)	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$419,604	
($116,240)	
$303,364	

Notes
Reserve Fund Balance = $83,065*.
Captalized Interest Account Balance = $220,299*.
Capitalized Interest Account Balance To Be Used To Make 11/1/2021 Interest Payment Of $73,426. Capitalized Interest Set-up Through November 2022.
* Approximate Amounts

Series 2020 Bond Information		
Original Par Amount =	$3,440,000	Annual Principal Payments Due:	
Interest Rate =	3.8% - 4.45%	May 1st	
Issue Date =	July 2020	Annual Interest Payments Due:	
Maturity Date =	May 2052	May 1st & November 1st	

Par Amount As Of 9/30/21 =	
$3,440,000		

REVENUES	FISCAL YEAR 2020/2021
ANNUAL BUDGET	FISCAL YEAR 2020/2021
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2020 - 9/29/2021	
Interest Income (2021 - National)	0	14	14	
Net NAV Collection (2021 - National)	0	0	0	
Developer Contribution (2021 - National)	0	0	0	
Bond Proceeds (2021 - National)	0	594,530	594,530	
Prepaid Bond Collection (2021 - National)	0	0	0	
Total Revenues	$	-	$	594,544	$	594,544	
				
EXPENDITURES				
Principal Payments (2021 - National)	0	0	0	
Interest Payments (2021 - National)	0	66,088	66,088	
Transfer To Construction Fund (2021 - National)	0	0	0	
Total Expenditures	$	-	$	66,088	$	66,088	
				
Net Excess/ (Shortfall)	$	-	$	528,456	$	528,456	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$0	
$528,456	
$528,456	

Notes
Reserve Fund Balance = $319,744*.
Captalized Interest Account Balance = $208,712*.
Capitalized Interest Account Balance To Be Used To Make 11/1/2021 Interest Payment Of $208,699. Capitalized Interest Set-up Through November 2021.
Capital Projects Debt Proceeds = $10,745,469. Total Bond Proceeds = $11,340,000. FY 2020/2021 Cost Of Issuance = $307,820.
* Approximate Amounts

Series 2021 (Ave Maria National) Bond Information		
Original Par Amount =	$11,340,000	Annual Principal Payments Due:	
Interest Rate =	2.6% - 4.0%	May 1st	
Issue Date =	March 2021	Annual Interest Payments Due:	
Maturity Date =	May 2051	May 1st & November 1st	

Par Amount As Of 9/30/21 =	
$11,340,000		

REVENUES	FISCAL YEAR 2020/2021
ANNUAL BUDGET	FISCAL YEAR 2020/2021
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2020 - 9/29/2021	
Interest Income (2021 - Master)	0	1	1	
Net NAV Collection (2021 - Master)	0	0	0	
Developer Contribution (2021 - Master)	0	0	0	
Bond Proceeds (2021 - Master)	0	781,341	781,341	
Premium (2021 - Master)	0	295,746	295,746	
Prepaid Bond Collection (2021 - Master)	0	0	0	
Total Revenues	$	-	$	1,077,088	$	1,077,088	
				
EXPENDITURES				
Principal Payments (2021 - Master)	0	0	0	
Interest Payments (2021 - Master)	0	0	0	
Cost Of Issuance (2021 - Master)	0	276,730	276,730	
Total Expenditures	$	-	$	276,730	$	276,730	
				
Net Excess/ (Shortfall)	$	-	$	800,358	$	800,358	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$0	
$800,358	
$800,358	

Notes
Reserve Fund Balance = $320,097*. Capitalized Interest Account Balance = $478,089* Cost Of Issuance Account Balance = $2,172*.
Capitalized Interest Account Balance To Be Used To Make 11/1/2021 Interest Payment Of $79,681. Capitalized Interest Set-up Through November 2022.
Debt Proceeds Received For 2016 BAN = $10,828,659. Total Bond Proceeds = $11,610,000.
* Approximate Amounts

Series 2021 (Master) Bond Information		
Original Par Amount =	$11,610,000	Annual Principal Payments Due:	
Interest Rate =	2.25% - 4.0%	May 1st	
Issue Date =	August 2021	Annual Interest Payments Due:	
Maturity Date =	May 2052	May 1st & November 1st	

Par Amount As Of 9/30/21 =	
$11,610,000		

REVENUES	FISCAL YEAR 2020/2021
ANNUAL BUDGET	FISCAL YEAR 2020/2021
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2020 - 9/29/2021	
Interest Income (2021 - BAN)	0	2	2	
Net NAV Collection (2021 - BAN)	0	0	0	
Developer Contribution (2021 - BAN)	0	0	0	
Prepaid Bond Collection (2021 - BAN)	0	0	0	
Bond Proceeds (2021 - BAN)	0	1,204,280	1,204,280	
Total Revenues	$	-	$	1,204,282	$	1,204,282	
				
EXPENDITURES				
Principal Payments (2021 - BAN)	0	0	0	
Interest Payments (2021 - BAN)	0	0	0	
Transfer To Construction Fund (2021 - BAN)	0	0	0	
Total Expenditures	$	-	$	-	$	-	
				
Net Excess/ (Shortfall)	$	-	$	1,204,282	$	1,204,282	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$0	
$1,204,282	
$1,204,282	

Notes
Reserve Fund Balance = $547,400*. Capitalized Interest Account Balance = $656,882*. Interest Fund Balance To Be Used To Make 11/1/2021 Interest Payment Of $109,480. Capitalized Interest Set-up Through November 2022.
Capital Projects Debt Proceeds = $14,435,720. Total Bond Proceeds = $15,640,000. FY 2020/2021 Cost Of Issuance = $333,770.

Series 2021 BANS Information		
Original Par Amount =	$15,640,000	Annual Principal Payments Due:	
Interest Rate =	3.50%	N/A	
Issue Date =	August 2021	Annual Interest Payments Due:	
Maturity Date =	May 2026	May 1st & November 1st	

Par Amount As Of 9/30/21 =	
$15,640,000