Hillcrest
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

AMENDED FINAL BUDGET
HILLCREST COMMUNITY DEVELOPMENT DISTRICT 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	86,601	86,896	86,896	
Debt Assessments	662,543	662,543	662,543	
Other Revenues	0	0	0	
Interest Income	120	160	160	
				
Total Revenues	$	749,264	$	749,599	$	749,599	
				
EXPENDITURES				
Supervisor Fees	0	0	0	
Engineering/Inspections	3,000	1,500	0	
Miscellaneous Maintenance (Pressure Cleaning)	0	625	625	
Management	35,100	35,100	35,100	
Legal	18,500	10,000	3,251	
Assessment Roll	5,000	5,000	5,000	
Audit Fees	3,600	3,600	3,600	
Arbitrage Rebate Fee	650	650	650	
Insurance	7,000	6,038	6,038	
Legal Advertisements	1,500	1,500	845	
Miscellaneous	1,200	500	59	
Postage	300	175	159	
Office Supplies	700	175	132	
Dues & Subscriptions	175	175	175	
Trustee Fees	3,800	3,709	3,709	
Continuing Disclosure Fee	1,000	1,000	1,000	
TOTAL EXPENDITURES	$	81,525	$	69,747	$	60,343	
				
Excess/ (Shortfall)	$	667,739	$	679,852	$	689,256	
				
Bond Payments	(622,790)	(636,954)	(636,954)	
				
Balance	$	44,949	$	42,898	$	52,302	
				
County Appraiser & Tax Collector Fee	(14,983)	(2,084)	(2,084)	
Discounts For Early Payments	(29,966)	(26,850)	(26,850)	
				
Net Excess/ (Shortfall)	$	-	$	13,964	$	23,368	

FUND BALANCE AS OF 9/30/20	
FY 2020/20210 FUND BALANCE ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$50,719	
$13,964	
$64,683	

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AMENDED FINAL BUDGET
HILLCREST COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE 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	
Interest Income	50	33	33	
NAV Assessment Collection	622,790	636,954	636,954	
Total Revenues	$	622,840	$	636,987	$	636,987	
				
EXPENDITURES				
Principal Payments	180,000	175,000	175,000	
Interest Payments	439,256	442,428	442,428	
Bond Redemption	3,584	0	0	
Total Expenditures	$	622,840	$	617,428	$	617,428	
				
Excess/ (Shortfall)	$	-	$	19,559	$	19,559	

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

$737,589	
$19,559	
$757,148	

Notes
Reserve Fund Balance = $313,040*. Revenue Fund Balance = $444,108*
Revenue Fund Balance To Be Used To Make 11/1/2021 Principal & Interest Payment Of $399,628 - Principal Payment Of $180,000 & Interest Payment Of $219,628.
* 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 9/30/21 =	November 2048

$9,460,000	May 1st & November 1st	

11/2/2021 7:23 AM	
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