Avenir
Community Development District

Amended Final Budget For Fiscal Year 2019/2020
October 1, 2019	- September 30, 2020

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2018) III	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2019) IV	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2019B) V	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2020)

OPERATING FUND FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET 10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
O&M Assessments	414,846	0	0	
Landowner Contribution - O&M	0	839,858	819,858	
Debt Assessments - Series 2018	5,045,950	0	0	
Landowner Contribution - Debt (2018)	0	3,899,728	3,899,728	
Debt Assessments - Series 2019	475,243	0	0	
Landowner Contribution - Capital	0	3,410,000	2,900,453	
Interest Income	0	101	101	
				
Total Revenues	$	5,936,039	$	8,149,687	$	7,620,140	
				
EXPENDITURES				
Supervisor Fees	0	0	0	
Engineering/Inspections	15,000	5,800	5,800	
Management	38,208	38,208	38,208	
Legal	40,000	52,433	52,433	
Assessment Roll	7,500	7,500	7,500	
Audit Fees	6,500	5,000	5,000	
Arbitrage Rebate Fee	1,300	1,300	1,300	
Insurance	7,000	4,809	4,809	
Legal Advertisements	2,500	7,000	4,945	
Miscellaneous	3,000	1,500	992	
Postage	300	275	252	
Office Supplies	1,250	2,775	2,719	
Dues & Subscriptions	175	175	175	
Trustee Fees	7,000	12,000	12,000	
Continuing Disclosure Fee	2,000	1,500	1,500	
Website Management	2,000	2,000	2,000	
Miscellaneous Maintenance	250,000	100,000	72,719	
Infrastructure Maintenance	0	25,000	19,104	
Electricity	0	55,394	55,394	
Water	0	84,891	84,891	
Capital Outlay (2019 Project)	0	3,400,000	2,891,995	
Stormwater Management	0	110,649	110,649	
Landscape Maintenance	0	189,477	189,477	
Mitigation Maintenance	0	54,250	54,250	
Wild Hog Control	0	6,250	6,250	
Pump Maintenance	0	80,386	80,386	
				
TOTAL EXPENDITURES	$	383,733	$	4,248,572	$	3,704,748	
				
Excess/ (Shortfall)	$	5,552,306	$	3,901,115	$	3,915,392	
				
Bond Payments - Series 2018	(4,667,504)	(3,899,728)	(3,899,728)	
Bond Payments - Series 2019	(439,600)	0	0	
				
Balance	$	445,202	$	1,387	$	15,664	
				
County Appraiser & Tax Collector Fee	(204,793)	0	0	
Discounts For Early Payments	(240,409)	0	0	
				
Net Excess/ (Shortfall)	$	-	$	1,387	$	15,664	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 FUND BALANCE ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$0	
$1,387	
$1,387	

I

REVENUES	FISCAL YEAR 2019/2020 BUDGET 10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
Interest Income	500	36,676	36,676	
NAV Tax Collection 2018-1	2,098,851	0	0	
NAV Tax Collection 2018-2 (Taxable & Tax-Exempt)	1,704,971	0	0	
NAV Tax Collection 2018-3	863,682	0	0	
Prepaid Bond Collection	0	2,005,051	2,005,051	
Landowner Direct Bill Payments	0	3,899,728	3,899,728	
Total Revenues	$	4,668,004	$	5,941,455	$	5,941,455	
				
EXPENDITURES				
Principal Payments 2018-1	425,000	880,000	880,000	
Principal Payments 2018-2 Taxable	0	9,495,000	9,495,000	
Principal Payments 2018-2	0	2,415,000	2,415,000	
Principal Payments 2018-3	150,000	150,000	150,000	
Interest Payments 2018-1	1,703,605	1,712,700	1,712,700	
Interest Payments 2018-2 Taxable	1,442,583	849,843	849,843	
Interest Payments 2018-2	269,451	160,436	160,436	
Interest Payments 2018-3	660,675	664,988	664,988	
Bond Redemption	16,690	0	0	
Total Expenditures	$	4,668,004	$	16,327,967	$	16,327,967	
				
Excess/ (Shortfall)	$	-	$	(10,386,512)	$	(10,386,512)	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$11,026,079	
($10,386,512)	
$639,567	

Notes
Revenue Fund Balances = $33*.
Reserve Fund Balances = $632,991*. Prepayment Fund Balances = $6,543*.
Developer Direct Bill Payments (Received In October 2020)
To Fund November 1, 2020 Interest Payments Totaling $1,411,268:
2018-1: $837,650, 2018-2 tx: $206,388, 2018-2: $39,049, 2018-3: $328,181.
* 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 9/30/20 =	$30,460,000	

 	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 9/30/20 =	$5,225,000	

 	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 9/30/20 =	$1,335,000	

 	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 9/30/20 =	$11,415,000	

11/12/2020 3:57 PM	II

REVENUES	FISCAL YEAR 2019/2020 BUDGET 10/1/20 - 9/30/20	AMENDED FINAL BUDGET
10/1/20 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
Interest Income	0	6,611	6,611	
NAV Tax Collection	0	0	0	
Transfer From Cost Of Issuance Account	0	10,920	10,920	
Landowner Contribution	439,600	0	0	
Capitalized Interest	439,600	0	0	
				
Total Revenues	$	879,200	$	17,531	$	17,531	
				
EXPENDITURES				
Principal Payments (2019)	0	0	0	
Interest Payments (2019)	879,200	930,487	930,487	
				
Total Expenditures	$	879,200	$	930,487	$	930,487	
				
Excess/ (Shortfall)	$	-	$	(912,956)	$	(912,956)	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$1,047,878	
($912,956)	
$134,922	

Notes
Capitalized Interest Set-Up Through May 2020.
Interest Fund Balances = $24,685*. Revenue Fund Balance = $2,313*. Reserve Fund Balance = $107,924*.
Developer Direct Bill Payments (Received In October 2020) To Fund November 1, 2020 Interest Payment Of $439,600.
* 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 2020		
Maturity Date =	May 2050	Annual Interest Payments Due =	
		May 1st & November 1st	
Par Amount As Of 9/30/2020 =	$15,700,000		

11/12/2020 3:57 PM	III

REVENUES	FISCAL YEAR 2019/2020 BUDGET 10/1/20 - 9/30/20	AMENDED FINAL BUDGET
10/1/20 - 9/30/20	YEAR  TO DATE ACTUAL
10/1/19 - 9/29/20	
Interest Income	0	4,937	4,937	
NAV Tax Collection	0	0	0	
Debt Proceeds (2019B-1 - Taxable)	0	376,484	376,484	
Debt Proceeds (2019B-2 - Tax Exempt)	0	411,679	411,679	
Transfer From Cost Of Issuance Account	0	1,920	1,920	
				
Total Revenues	$	-	$	795,020	$	795,020	
				
EXPENDITURES				
Principal Payments (2019B-1 - Taxable)	0	53,778	53,778	
Principal Payments (2019B-2 - Tax Exempt )	0	80,267	80,267	
Interest Payments (2019B-1 - Taxable)	0	0	0	
Interest Payments (2019B-2 - Tax Exempt)	0	0	0	
				
Total Expenditures	$	-	$	134,045	$	134,045	
				
Excess/ (Shortfall)	$	-	$	660,975	$	660,975	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$0	
$660,975	
$660,975	

Notes
2019B-1 (Taxable) Capitalized Interest Set-Up Through November 2021. 2019B-1 (Tax Exempt) Capitalized Interest Set-Up Through January 2021.
Capital Projects Debt Proceeds = $5,711,837. Total Bond Proceeds = $6,500,000. 2019B-1 Reserve Fund Balance = $95,935*. 2019B-2 Reserve Fund = $181,106*.
2019B-1 Interest Account Balances = $230,129*. 2019B-2 Interest Account Balances = $153,805*. Interest Accounts To Fund November 1, 2020 Interest Payments:
2019B-1: $75,625 & 2019B-2: 112,875.
* Approximate Amounts

Series 2019B-1 (Taxable) Bond Information	
Original Par Amount =	$2,200,000	Principal Payment Due On	
Interest Rate = Issue Date =
Maturity Date =	6.88%
December 2019
May 2029	May 1, 2029

Annual Interest Payments Due =	

Par Amount As Of 9/30/2020 =	
$2,200,000	May 1st & November 1st	

Series 2019B-2 (Tax Exempt) Bond Information	
Original Par Amount =	$4,300,000	Principal Payment Due On	
Interest Rate =
Issue Date = Maturity Date =	5.25%
December 2019
May 2029	May 1, 2029

Annual Interest Payments Due =	

Par Amount As Of 9/30/2020 =	
$4,300,000	May 1st & November 1st	

11/12/2020 3:57 PM	IV

REVENUES	FISCAL YEAR 2019/2020 BUDGET 10/1/20 - 9/30/20	AMENDED FINAL BUDGET
10/1/20 - 9/30/20	YEAR  TO DATE ACTUAL
10/1/19 - 9/29/20	
Interest Income	0	0	0	
Impact Fees	0	0	0	
Debt Proceeds (2020)	0	0	0	
Transfer From Cost Of Issuance Account	0	0	0	
				
Total Revenues	$	-	$	-	$	-	
				
EXPENDITURES				
Principal Payments (2020)	0	0	0	
Interest Payments (2020)	0	0	0	
				
Total Expenditures	$	-	$	-	$	-	
				
Excess/ (Shortfall)	$	-	$	-	$	-	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$0	
$0	
$0	

Notes
No Debt Service Activity In Fiscal Year 2019/2020.	                                                      Total Bond Proceeds = $22,600,000 (All For Capital Projects Fund)
First Interest Payment Is On May 1, 2020 For $808,107.

Series 2020 (Impact Fee Credit) Bond Information
Original Par Amount =	$22,600,000	Principal Payment Due =	
Interest Rate =	4.75%	November 1, 2050	
Issue Date =	July 2020		
Maturity Date =	November 2050	Annual Interest Payments Due =	
		May 1st & November 1st	
Par Amount As Of 9/30/2020 =	$22,600,000		

11/12/2020 3:57 PM	V