Hillcrest
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

AMENDED FINAL BUDGET
HILLCREST 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	87,615	88,525	88,525	
Debt Assessments	662,543	662,543	662,543	
Other Revenues	0	0	0	
Interest Income	0	135	131	
				
Total Revenues	$	750,158	$	751,203	$	751,199	
				
EXPENDITURES				
Supervisor Fees	0	0	0	
Engineering/Inspections	2,500	4,200	3,140	
Management	33,684	33,684	33,684	
Legal	20,000	11,000	8,595	
Assessment Roll	5,000	5,000	5,000	
Audit Fees	4,000	3,400	3,400	
Arbitrage Rebate Fee	650	650	650	
Insurance	7,500	6,655	6,655	
Legal Advertisements	2,000	1,250	755	
Miscellaneous	1,000	750	139	
Postage	300	175	169	
Office Supplies	750	275	233	
Dues & Subscriptions	175	175	175	
Trustee Fees	3,800	3,709	3,709	
Continuing Disclosure Fee	1,000	1,000	1,000	
TOTAL EXPENDITURES	$	82,359	$	71,923	$	67,304	
				
Excess/ (Shortfall)	$	667,799	$	679,280	$	683,895	
				
Bond Payments	(622,790)	(624,543)	(624,543)	
				
Balance	$	45,009	$	54,737	$	59,352	
				
County Appraiser & Tax Collector Fee	(15,003)	(3,073)	(3,073)	
Discounts For Early Payments	(30,006)	(29,321)	(29,321)	
				
Net Excess/ (Shortfall)	$	-	$	22,343	$	26,958	

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

$11,146	
$22,343	
$33,489	

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AMENDED FINAL BUDGET
HILLCREST COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE 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	
Interest Income	0	1,810	1,795	
NAV Assessment Collection	622,790	624,543	624,543	
Miscellaneous Revenue	0	0	0	
Total Revenues	$	622,790	$	626,353	$	626,338	
				
EXPENDITURES				
Principal Payments	170,000	0	0	
Interest Payments	451,763	451,763	451,763	
Bond Redemption	1,027	0	0	
Total Expenditures	$	622,790	$	451,763	$	451,763	
				
Excess/ (Shortfall)	$	-	$	174,590	$	174,575	

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

$541,100	
$174,590	
$715,690	

Notes
Reserve Fund Balance = $312,709*. Revenue Fund Balance = $402,981*
Revenue Fund Balance To Be Used To Make 11/1/2019 Principal & Interest Payment Of $395,881 - Principal Payment Of $170,000 & Interest Payment Of $225,881.
* Approximate Amounts

Series 2018 Bond Information

Original Par Amount =	$9,805,000	Annual Principal Payments Due:	
Interest Rate =	3.625% - 5.0%	November 1st	
Issue Date =	January 2018	Annual Interest Payments Due:	
Maturity Date =

Par Amount As Of 9/30/19 =	November 2048

$9,805,000	May 1st & November 1st	

10/18/2019 3:06 PM	
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