Avenir
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 (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 - IMPACT FEES) VI	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2020 - SAN)
VII	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2021A) VIII	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2021B)

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	
O&M Assessments	1,471,818	1,100,893	1,100,893	
Clubhouse Assessments	0	19,044	19,044	
Landowner Contribution - O&M	0	712,045	712,045	
Debt Assessments - Series 2018	4,567,518	2,056,386	2,056,386	
Landowner Contribution - Debt	0	99,031	99,031	
Debt Assessments - Series 2019	1,552,957	0	0	
Landowner Contribution - Capital - 18-3 Bond	0	3,673,200	3,173,200	
Landowner Contribution - Capital - 19 Bond	0	6,151,441	5,651,441	
Landowner Contribution - Capital - 20 SAN	0	290,935	290,935	
Interest Income	1	434	434	
Total Revenues	$	7,592,294	$	14,103,409	$	13,103,409	
				
EXPENDITURES				
Supervisor Fees	0	0	0	
Engineering/Inspections	15,000	15,000	10,750	
Management	39,084	39,084	39,084	
Legal	40,000	50,907	50,907	
Assessment Roll	7,500	7,500	7,500	
Audit Fees	8,000	5,000	5,000	
Arbitrage Rebate Fee	1,950	2,600	2,600	
Insurance	8,000	6,001	6,001	
Legal Advertisements	3,500	8,000	6,138	
Miscellaneous	3,000	1,000	419	
Postage	300	630	618	
Office Supplies	2,000	1,550	1,515	
Dues & Subscriptions	175	175	175	
Trustee Fees	15,000	21,000	21,000	
Continuing Disclosure Fee	3,000	2,000	2,000	
Website Management	2,000	2,000	2,000	
Miscellaneous Maintenance	25,000	40,000	35,569	
Infrastructure Maintenance (South FL Select Homes Expenditures)	0	90,000	83,063	
Electric (FPL)	225,000	233,405	233,405	
Water (Seacoast)	125,000	136,977	136,977	
Landscape Maintenance	500,000	470,000	443,035	
Lake Maintenance	50,000	44,434	44,434	
Stormwater Management/Lake Water Control	20,000	374,951	374,951	
Mitigation Maintenance	75,000	113,588	113,588	
Wild Hog Control	15,000	0	0	
Pump Maintenance	25,000	0	0	
Trail Maintenance	5,000	0	0	
Streetlights	100,000	0	0	
Field Operations	20,000	0	0	
Clubhouse Management	20,000	0	0	
Clubhouse Utilities	30,000	0	0	
Clubhouse - Water Connect Fee	0	68,232	68,232	
Capital Outlay - 2018-3	0	3,672,996	3,172,996	
Capital Outlay - 2019	0	6,133,390	5,633,390	
Capital Outlay - 2020 SAN	0	290,935	290,935	

TOTAL EXPENDITURES	$	1,383,509	$	11,831,355	$	10,786,282	
				
Excess/ (Shortfall)	$	6,208,785	$	2,272,054	$	2,317,127	
				
Bond Payments - Series 2018	(4,293,467)	(1,969,712)	(1,969,712)	
Bond Payments - Series 2019	(1,459,780)	(83,707)	(83,707)	
				
Balance	$	455,538	$	302,342	$	347,415	
				
County Appraiser & Tax Collector Fee	(151,846)	(29,844)	(29,844)	
Discounts For Early Payments	(303,692)	(107,687)	(107,687)	
				
Net Excess/ (Shortfall)	$	-	$	164,811	$	209,884	

Note: Debt Assessments/Bond Payments Only Includes Transactions Processed Through Operating Account

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

$3,084	
$164,811	
$167,895	

I

DEBT SERVICE FUND (SERIES 2018) 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	500	161	161	
NAV Tax Collection 2018-1	2,098,851	1,661,027	1,661,027	
NAV Tax Collection 2018-2 (Taxable & Tax-Exempt)	1,382,255	0	0	
NAV Tax Collection 2018-3	811,861	293,362	293,362	
Prepaid Bond Collection	0	2,132,959	2,132,959	
Landowner Direct Bill Payments	0	1,855,157	1,855,157	
Total Revenues	$	4,293,467	$	5,942,666	$	5,942,666	
				
EXPENDITURES				
Principal Payments 2018-1	435,000	435,000	435,000	
Principal Payments 2018-2 Taxable	0	400,000	400,000	
Principal Payments 2018-2	0	100,000	100,000	
Principal Payments 2018-3	155,000	155,000	155,000	
Interest Payments 2018-1	1,666,913	1,675,575	1,675,575	
Interest Payments 2018-2 Taxable	1,162,880	420,675	420,675	
Interest Payments 2018-2	219,375	79,560	79,560	
Interest Payments 2018-3	651,906	656,363	656,363	
Bond Redemption	2,393	20,000	20,000	
Total Expenditures	$	4,293,467	$	3,942,173	$	3,942,173	
				
Excess/ (Shortfall)	$	-	$	2,000,493	$	2,000,493	

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

$639,567	
$2,000,493	
$2,640,060	

Notes
2018-1 Reserve Fund Balance = $429,367*. 2018-3 Reserve Fund Balance = $202,974*. 2018-1 Revenue Account Balance = $388,177*. 2018-3 Revenue Account = $3*.
2018-1 Prepayment Account Balance = $38,749*. 2018-2 Prepayment Account = $1,580,790*.
Revenue Accounts, Prepayment Accounts And Developer Direct Bill Payments (Received In October 2020) To Fund November 1, 2021 - 2018-1 Interest Payment of $825,138 and 2018-1 Principal Payment Of $35,000, 2018-2 Taxable Interest Payment of $190,588 and 2018-2 Taxable Principal Payment Of $1,255,000,
2018-2 Tax Exempt Interest Payment of $323,735 and
2018-3 Interest Payment of $36,124 and 2018-3 Principal Payment Of $1,255,000,

* 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 9/30/21 =	$30,005,000	

 	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 9/30/21 =	$4,825,000	

 	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 9/30/21 =	$1,235,000	

 	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 9/30/21 =	$11,260,000	

DEBT SERVICE FUND (SERIES 2019) 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	0	15	15	
NAV Tax Collection	1,082,780	0	0	
Landowner Contribution	0	1,057,988	1,057,988	
Prepaid Bond Collection	0	66,452	66,452	
				
Total Revenues	$	1,082,780	$	1,124,455	$	1,124,455	
				
EXPENDITURES				
Principal Payments (2019)	205,000	205,000	205,000	
Principal Payments (2019)	873,460	880,110	880,110	
Bond Redemptions	4,320	65,000	65,000	
				
Total Expenditures	$	1,082,780	$	1,150,110	$	1,150,110	
				
Excess/ (Shortfall)	$	-	$	(25,655)	$	(25,655)	

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

$134,922	
($25,655)	
$109,267	

Notes
Reserve Fund Balance = $107,813*. Prepayment Account Balance = $1,454*. Landowner Direct Bill Payments (Received In October 2021)
To Fund November 1, 2021 Interest Payment Of $432,040.
* 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 9/30/2021 =	$15,430,000		

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	0	47	47	
Landowner Contribution	377,000	72,385	72,385	
				
Total Revenues	$	377,000	$	72,432	$	72,432	
				
EXPENDITURES				
Principal Payments (2019B-1 - Taxable)	0	0	0	
Principal Payments (2019B-2 - Tax Exempt )	0	151,250	151,250	
Interest Payments (2019B-1 - Taxable)	377,000	0	0	
Interest Payments (2019B-2 - Tax Exempt)	0	225,750	225,750	
Bond Redemptions	0			
Total Expenditures	$	377,000	$	377,000	$	377,000	
				
Excess/ (Shortfall)	$	-	$	(304,568)	$	(304,568)	

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

$659,054	
($304,568)	
$354,486	

Notes
2019B-1 (Taxable) Capitalized Interest Set-Up Through November 2021. 2019B-1 (Tax Exempt) Capitalized Interest Set-Up Through January 2021.
2019B Taxable Reserve Fund Balance = $95,831*. 2019B Tax Exempt Reserve Fund = $180,921*.
2019B Revenue Account Balance = $1,022*. 2019B Taxable Capitalized Interest Account Balance = $76,712*. 2019B Taxable Capitalized Interest Account Balance To Fund November 1, 2021 Interest Payment Of $75,625. 2019B Tax Exempt Developer Direct Bill Payments (Received In October 2021) To Fund
November 1, 2021 Interest Payment Of $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 9/30/2021 =	
$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 9/30/2021 =	
$4,300,000	May 1st & November 1st	

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	0	11	11	
Impact Fees	1,344,857	930,018	930,018	
Transfer From Cost Of Issuance Account	0	1,500	1,500	
				
Total Revenues	$	1,344,857	$	931,529	$	931,529	
				
EXPENDITURES				
Principal Payments (2020)	0	0	0	
Interest Payments (2020)	1,344,857	242,070	242,070	
				
Total Expenditures	$	1,344,857	$	242,070	$	242,070	
				
Excess/ (Shortfall)	$	-	$	689,459	$	689,459	

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

$0	
$689,459	
$689,459	

Notes
Revenue Fund Balance = $689,459*.
Revenue Fund To Fund November 1, 2021 Interest Payment.
* Approximate Amount

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 9/30/2021 =	$22,600,000		

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	0	8	8	
Debt Proceeds (2020 SAN)	0	100,000	100,000	
Debt Proceeds (20121A-1)	0	6,571,647	6,571,647	
Debt Proceeds (20121A-2)	0	9,459,753	9,459,753	
Transfer From Cost Of Issuance Account (2020 SAN)	0	8,001	8,001	
				
Total Revenues	$	-	$	16,139,409	$	16,139,409	
				
EXPENDITURES				
Principal Payments (2020 SAN)	0	0	0	
Interest Payments (2020 SAN)	0	0	0	
Transfer To 2021 Debt Service	0	108,009	108,009	
				
Total Expenditures	$	-	$	108,009	$	108,009	
				
Excess/ (Shortfall)	$	-	$	16,031,400	$	16,031,400	

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

$0	
$16,031,400	
$16,031,400	

Notes
Redemption Account Balance = $15,400,000. Interest Account Balance = $631,400.
Redemption Account Balance To Be Used To Make November 1, 2021 Principal Payment Of $15,400,000. Interest Account Balance To Be Used To Make November 1, 2021 Interest Payment Of $631,400.
2020 SAN Capital Projects Debt Proceeds = $15,300,000. Total 2020 SAN Debt Proceeds = $15,400,000. FY 2020/2021 Cost Of Issuance = $231,500.
FY 2020/2021 Capital Outlay = $15,060,739.

 	 Series 2020 SAN Information			 Original Par Amount =	$15,400,000	Annual Principal Payments Due =	Due in Full November 1, 2021 Interest Rate =	4.50%	Annual Interest Payments Due =	Due in Full November 1, 2021
Issue Date =	October 2020
Maturity Date =	November 2021
May 1st & November 1st
Par Amount As Of 9/30/2021 =	$15,400,000

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	0	0	0	
NAV Tax Collection	0	0	0	
Debt Proceeds (2021A-1)	0	1,654,140	1,654,140	
Debt Proceeds (2021A-2)	0	2,444,660	2,444,660	
				
Total Revenues	$	-	$	4,098,800	$	4,098,800	
				
EXPENDITURES				
Principal Payments (2021A-1)	0	0	0	
Principal Payments (2021A-2)	0	0	0	
Interest Payments (2021A-1)	0	0	0	
Interest Payments (2021A-2)	0	0	0	
				
Total Expenditures	$	-	$	-	$	-	
				
Excess/ (Shortfall)	$	-	$	4,098,800	$	4,098,800	

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

$0	
$4,098,800	
$4,098,800	

Notes
2021A-1 Capitalized Interest Set-Up Through November 2022. 2021A-2 Capitalized Interest Set-Up Through November 2022.
2021A-1 Capital Projects Debt Proceeds = $25,650,860. Total Bond Proceeds = $27,305,000. 2021A-2 Capital Projects Debt Proceeds = $36,860,340. Total Bond Proceeds = $39,305,000.
2021A-1 Cost Of Issuance Expenditures = $524,339. 2021A-2 Cost Of Issuance Expenditures = $754,776.

2021A-1 Reserve Fund Balance = $717,507*. 2021A-2 Reserve Fund Balance = $256,819*.
2021A-1 Capitalized Interest Account Balance = $936,632*. 2021A-2 Capitalized Interest Account Balance = $2,187,842*. Capitalized Interest Accounts To Fund November 1, 2021 Interest Payments:
2021A-1: $74,260 & 2021A-2: $173,461*.

* Approximate Amounts

 	Series 2021A-1 Information	
Original Par Amount =	$27,305,000	Annual Principal Payments Due =	
Interest Rate =	2.25% - 3.4%	May 1st	
Issue Date =	September 2021		
Maturity Date =

Par Amount As Of 9/30/2021 =	May 2052

$27,305,000	Annual Interest Payments Due = May 1st & November 1st	
	Series 2021A-2 Information		
Original Par Amount =	$39,305,000	Annual Principal Payments Due =	
Interest Rate =	5.13%	May 1st	
Issue Date =	September 2021		
Maturity Date =	May 2052	Annual Interest Payments Due =	
		May 1st & November 1st	
Par Amount As Of 9/30/2021 =	$39,305,000		

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	0	0	0	
NAV Tax Collection	0	0	0	
Debt Proceeds (2021B)	0	145,800	145,800	
				
Total Revenues	$	-	$	145,800	$	145,800	
				
EXPENDITURES				
Principal Payments (2021B)	0	0	0	
Interest Payments (2021B)	0	0	0	
				
Total Expenditures	$	-	$	-	$	-	
				
Excess/ (Shortfall)	$	-	$	145,800	$	145,800	

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

$0	
$145,800	
$145,800	

Notes
Capital Projects Debt Proceeds = $29,014,200. Total Bond Proceeds = $29,160,000. FY 2020/2021 Cost Of Issuance = $498,985.
FY 2020/2021 Capital Outlay = $25,445,741. Reserve Fund Balance = $145,800*.
Landowner Direct Bill Payments (Received In October 2021) To Fund November 1, 2021 Interest Payment Of $125,550.
* Approximate Amounts

Series 2021B Bond Information
Original Par Amount =	$29,160,000	Principal Payment Due On	
Interest Rate =	5.00%	May 1, 2041	
Issue Date =	September 2021		
Maturity Date =	May 2041	Annual Interest Payments Due =	
		May 1st & November 1st	
Par Amount As Of 9/30/2021 =	$29,160,000