Lake Frances Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
LAKE FRANCES COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET 10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Administrative Assessments	61,906	62,112	62,112	
Maintenance Assessments	16,457	16,457	16,457	
Debt Assessments	146,840	146,840	146,840	
Other Revenues	0	0	0	
Interest Income	540	439	439	
TOTAL REVENUES	$	225,743	$	225,848	$	225,848	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	3,000	1,200	1,200	
Payroll Taxes (Employer)	230	92	92	
Management	32,076	32,076	32,076	
Legal	9,600	6,895	6,895	
Assessment Roll	6,000	6,000	6,000	
Audit Fees	3,300	3,000	3,000	
Insurance	6,500	5,513	5,513	
Legal Advertisements	750	750	435	
Miscellaneous	1,000	750	414	
Meeting Room Rental	1,000	383	383	
Postage	200	330	326	
Office Supplies	500	150	101	
Dues & Subscriptions	175	175	175	
Trustee Fee	4,000	4,000	4,000	
Continuing Disclosure Fee	350	350	350	
Website Mangement	2,000	2,000	2,000	
Administrative Contingency	1,200	600	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	71,881	$	64,264	$	62,960	
				
MAINTENANCE EXPENDITURES				
Aquatic Maintenance (Lake Tract)	3,600	2,340	2,340	
Lawn & Landscape Maintenance	6,600	7,500	6,265	
Engineering/Annual Report/Inspections	1,250	975	975	
Field Operation Management	1,620	1,620	1,620	
Maintenance Contingency	2,400	1,200	0	
TOTAL MAINTENANCE EXPENDITURES	$	15,470	$	13,635	$	11,200	
				
TOTAL EXPENDITURES	$	87,351	$	77,899	$	74,160	
				
REVENUES LESS EXPENDITURES	$	138,392	$	147,949	$	151,688	
				
Bond Payments	(138,030)	(139,860)	(139,860)	
				
BALANCE	$	362	$	8,089	$	11,828	
				
County Appraiser & Tax Collector Fee	(4,504)	(2,169)	(2,169)	
Discounts For Early Payments	(9,008)	(8,540)	(8,540)	
				
EXCESS/ (SHORTFALL)	$	(13,150)	$	(2,620)	$	1,119	
				
Carryover From Prior Year	13,150	12,650	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	10,030	$	1,119	

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

$202,447	
($2,620)	
$199,827	

Notes
Carryover From Prior Year Of $13,150 was used to reduce Fiscal Year 2020/2021 Assessments.
$13,150 Of Fund Balance To Be Used To Reduce 2021/2022 Assessments.

10/28/2021 1:28 PM	I

AMENDED FINAL BUDGET
LAKE FRANCES COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET
10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Interest Income	300	15	15	
NAV Tax Collection	138,030	139,860	139,860	
				
Total Revenues	$	138,330	$	139,875	$	139,875	
				
EXPENDITURES				
Principal Payments	75,000	75,000	75,000	
Interest Payments	60,755	61,880	61,880	
Bond Redemption	2,575	0	0	
				
Total Expenditures	$	138,330	$	136,880	$	136,880	
				
Excess/Shortfall	$	-	$	2,995	$	2,995	

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

$125,803	
$2,995	
$128,798	

Notes
Reserve Fund Balance = $71,305*. Revenue Fund Balance = $57,493*. Interest Fund Balance Used To Make 11/1/2021 Interest Payment Of $29,815.
* Approximate Amounts

Series 2018 Bond Refunding Information		
Original Par Amount =	$1,812,000	Annual Principal Payments Due:	
Interest Rate =	3.00% - 4.00%	May 1st	
Issue Date =	February 2018	Annual Interest Payments Due:	
Maturity Date =	May 2037	May 1st & November 1st	
Par Amount As Of 9/30/21 =	$1,594,000		

10/28/2021 1:28 PM	II