Hillcrest
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

AMENDED FINAL BUDGET
HILLCREST COMMUNITY DEVELOPMENT DISTRICT 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	87,521	88,251	88,251	
Debt Assessments	662,543	662,543	662,543	
Other Revenues	0	0	0	
Interest Income	0	120	116	
				
Total Revenues	$	750,064	$	750,914	$	750,910	
				
EXPENDITURES				
Supervisor Fees	0	0	0	
Engineering/Inspections	2,500	0	0	
Management	34,320	34,320	34,320	
Legal	20,000	18,000	10,821	
Assessment Roll	5,000	5,000	5,000	
Audit Fees	3,500	3,500	3,500	
Arbitrage Rebate Fee	650	650	650	
Insurance	7,250	5,750	5,750	
Legal Advertisements	1,750	2,300	1,746	
Miscellaneous	1,300	1,100	43	
Postage	300	160	154	
Office Supplies	725	225	213	
Dues & Subscriptions	175	175	175	
Trustee Fees	3,800	3,708	3,708	
Continuing Disclosure Fee	1,000	1,000	1,000	
TOTAL EXPENDITURES	$	82,270	$	75,888	$	67,080	
				
Excess/ (Shortfall)	$	667,794	$	675,026	$	683,830	
				
Bond Payments	(622,790)	(640,029)	(640,029)	
				
Balance	$	45,004	$	34,997	$	43,801	
				
County Appraiser & Tax Collector Fee	(15,001)	(2,090)	(2,090)	
Discounts For Early Payments	(30,003)	(23,399)	(23,399)	
				
Net Excess/ (Shortfall)	$	-	$	9,508	$	18,312	

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

$34,580	
$9,508	
$44,088	

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AMENDED FINAL BUDGET
HILLCREST COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE 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	
Interest Income	50	443	437	
NAV Assessment Collection	622,790	640,029	640,029	
Total Revenues	$	622,840	$	640,472	$	640,466	
				
EXPENDITURES				
Principal Payments	175,000	170,000	170,000	
Interest Payments	445,600	448,681	448,681	
Bond Redemption	2,240	0	0	
Total Expenditures	$	622,840	$	618,681	$	618,681	
				
Excess/ (Shortfall)	$	-	$	21,791	$	21,785	

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

$715,798	
$21,791	
$737,589	

Notes
Reserve Fund Balance = $313,024*. Revenue Fund Balance = $424,565*
Revenue Fund Balance To Be Used To Make 11/1/2020 Principal & Interest Payment Of $397,800 - Principal Payment Of $175,000 & Interest Payment Of $222,800.
* 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 9/30/20 =	November 2048

$9,635,000	May 1st & November 1st	

10/4/2020 1:46 PM	
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