Avenir
Community Development District

Amended Final Budget For Fiscal Year 2018/2019
October 1, 2018	- September 30, 2019

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2018) III	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2019)

AMENDED FINAL BUDGET
AVENIR COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET 10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 9/29/19	
O & M Assessments	0	0	0	
Landowner Contribution - O & M	94,125	119,597	115,047	
Debt Assessments	0	0	0	
Other Revenues	0	0	0	
Interest Income	0	3	3	
				
Total Revenues	$	94,125	$	119,600	$	115,050	
				
EXPENDITURES				
Supervisor Fees	0	0	0	
Engineering/Inspections/Misc. Maintenance	5,000	11,100	8,100	
Management	39,000	39,000	39,000	
Legal	20,000	43,656	43,656	
Assessment Roll	7,500	0	0	
Audit Fees	5,000	5,000	5,000	
Arbitrage Rebate Fee	650	650	650	
Insurance	6,000	4,440	4,440	
Legal Advertisements	2,500	6,900	5,878	
Miscellaneous	2,500	1,500	1,022	
Postage	300	315	303	
Office Supplies	1,000	1,850	1,812	
Dues & Subscriptions	175	175	175	
Trustee Fees	3,500	9,000	9,000	
Continuing Disclosure Fee	1,000	750	750	
				
TOTAL EXPENDITURES	$	94,125	$	124,336	$	119,786	
				
Excess/ (Shortfall)	$	-	$	(4,736)	$	(4,736)	
				
Bond Payments	(4,129,092)	0	0	
				
Balance	$	(4,129,092)	$	(4,736)	$	(4,736)	
				
County Appraiser & Tax Collector Fee	0	0	0	
Discounts For Early Payments	0	0	0	
				
Net Excess/ (Shortfall)	$	(4,129,092)	$	(4,736)	$	(4,736)	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 FUND BALANCE ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$6,627	
($4,736)	
$1,891	

I

AMENDED FINAL BUDGET
AVENIR COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2018)
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET 10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 9/29/19	
Interest Income (2018A-1)	500	25,766	25,766	
Interest Income (2018A-2)	0	33,182	33,182	
Interest Income (2018A-3)	0	10,384	10,384	
Landowner Contribution (Debt)	2,064,296	64,113	64,113	
NAV Assessment Collection	0	0	0	
Prepaid Bond Collection	0	15,162,459	15,162,459	
Total Revenues	$	2,064,796	$	15,295,904	$	15,295,904	
				
EXPENDITURES				
Principal Payments 2018-1	0	160,000	160,000	
Principal Payments 2018-2 Taxable	0	3,725,000	3,725,000	
Principal Payments 2018-2 Tax Exempt	0	950,000	950,000	
Principal Payments 2018-3	0	0	0	
Interest Payments 2018-1	1,732,500	1,638,450	1,638,450	
Interest Payments 2018-2 Taxable	1,457,155	1,449,771	1,449,771	
Interest Payments 2018-2 Tax Exempt	274,950	273,569	273,569	
Interest Payments 2018-3	664,987	628,044	628,044	
Total Expenditures	$	4,129,592	$	8,824,834	$	8,824,834	
				
Excess/ (Shortfall)	$	(2,064,796)	$	6,471,070	$	6,471,070	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$4,555,008	
$6,471,070	
$11,026,078	

Notes
Capitalized Interest Set-Up Through May 2019. Interest And Revenue Fund Balances = $40,314.*
Reserve Fund Balances = $639,497.* Prepayment Fund Balances = $10,346,267.*
Revenue Accounts & Developer Direct Bill Payments ($1,845,157 Received In October 2019) To Fund November 1, 2019 Interest Payments Totaling $1,885,471:
2018-1: $861,850, 2018-2 tx: $581,440, 2018-2: $109,687, 2018-3: $332,494.
Prepayment Accounts To Fund November 1, 2019 Extraordinary Principal Payments Totaling $10,340,000: 2018-1: $400,000, 2018-2tx: $7,925,000, 2018-2: $2,015,000.
FY 2018/2019 Capital Outlays = $25,738,382.*
* Approximate Amounts

 	Series 2018-1 Bond Information		
Original Par Amount =	$31,500,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	5.50%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	May 2018			
Maturity Date =	May 2049	Par Amount As Of 9/30/19 =	$31,340,000	

 	Series 2018-2 Taxable Bond Information		
Original Par Amount =	$18,445,000	Annual Principal Payments Due =	N/A	
Interest Rate =	7.90%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	May 2018			
Maturity Date =	May 2029	Par Amount As Of 9/30/19 =	$14,720,000	

 	Series 2018-2 Bond Information		
Original Par Amount =	$4,700,000	Annual Principal Payments Due =	N/A	
Interest Rate =	5.85%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	May 2018			
Maturity Date =	May 2029	Par Amount As Of 9/30/19 =	$3,750,000	

 	Series 2018-3 Bond Information		
Original Par Amount =	$11,565,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	5.75%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	May 2018			
Maturity Date =	May 2049	Par Amount As Of 9/30/19 =	$11,565,000	

11/11/2019 1:49 PM	II

AMENDED FINAL BUDGET
AVENIR COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2019)
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET 10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 9/29/19	
Interest Income (2019)	0	9,113	9,113	
Landowner Contribution (Debt)	0	0	0	
NAV Assessment Collection	0	0	0	
Bond Proceeds (Debt Service 2019)	0	1,038,765	1,038,765	
				
Total Revenues	$	-	$	1,047,878	$	1,047,878	
				
EXPENDITURES				
Principal Payments (2019)	0	0	0	
Interest Payments (2019)	0	0	0	
				
Total Expenditures	$	-	$	-	$	-	
				
Excess/ (Shortfall)	$	-	$	1,047,878	$	1,047,878	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$0	
$1,047,878	
$1,047,878	

Notes
Capitalized Interest Set-Up Through May 2020.
Capitalized Interest Fund Balance = $938,650.* Reserve Fund Balance = $109,228.* Capitalized Interest Fund Balance To Be Used To Make November 2019
Interest Payment Of $490,887.
Capital Projects Debt Proceeds = $14,661,235. Total Bond Proceeds = $15,700,000. FY 2018/2019 Capital Outlays = $3,183,451*
FY 2018/2019 Cost Of Issuance = $380,275.*
* Approximate Amounts

Series 2019 Bond Information

Original Par Amount =	$15,700,000	Annual Principal Payments Due =	
Interest Rate =	5.60%	May 1st	
Issue Date =	April 2019		
Maturity Date =	May 2050	Annual Interest Payments Due =	
		May 1st & November 1st	
Par Amount As Of 9/30/2019 =	$15,700,000		

11/11/2019 1:49 PM	III