Turnbull Creek
Community Development District

Adopted Budget Fiscal Year 2017
August 30, 2016

Turnbull Creek
Community Development District

TABLE OF CONTENTS

General Fund

Summary of Revenues and Expenditures	Page 1-2 Narrative - Administrative and Maintenance	Page 3-10

Debt Service Fund Budget

Series 2015A1-A2	Page 11-13
Series 2015B1-B2	Page 14-16
Series 2016	Page 17-18

Capital Reserve Fund Budget	Page 19

Revenues		
Maintenance Assessments	$945,994	$947,719	$947,719	$1,032,448	
Interest / Miscellaneous	$2,000	$33,868	$34,568	$2,000	
Amenities Revenue	$2,000	$1,759	$2,000	$2,000	
Interfund Transfer (HOA Funds)	$15,000	$0	$15,000	$0	
Total Revenues	$964,994	$983,346	$999,287	$1,036,448	

Expenditures					
Administrative					
Supervisor Fees	$11,000	$9,000	$12,000	$11,000	
FICA Expense	$842	$689	$918	$842	
Engineering (ETM)	$21,000	$16,545	$23,372	$21,000	
Arbitrage (Grau)	$1,800	$3,600	$3,600	$3,000	
Dissemination (Prager Sealy)	$2,250	$2,100	$2,200	$2,200	
Trustee (US Bank)	$12,667	$7,646	$12,667	$12,667	
Attorney (HGS)	$42,000	$31,134	$42,000	$42,000	
Tax Roll Assessments (GMS)	$5,000	$5,000	$5,000	$5,000	
Annual Audit (Grau and Assoc)	$3,400	$4,100	$4,100	$4,300	
Management Fees (GMS)	$49,000	$36,750	$49,000	$49,000	
Information Technology (GMS)	$1,000	$750	$1,000	$1,600	
Telephone	$440	$200	$270	$250	
Postage	$2,000	$784	$1,305	$1,500	
Printing & Binding	$3,500	$2,500	$3,998	$2,200	
Insurance (FIA)	$8,692	$7,857	$7,857	$8,643	
Legal Advertising	$2,164	$3,407	$4,618	$2,164	
Other Current Charges	$1,380	$962	$1,240	$1,380	
Office Supplies	$400	$211	$277	$400	
Dues, Licenses & Subscriptions	$175	$175	$175	$175	
Website Compliance	$2,000	$1,500	$2,000	$0	
Total Administrative Expenses	$170,710	$134,911	$177,597	$169,321	

Amenity Center					
Insurance (FIA)	$16,020	$14,240	$14,240	$14,952	
Pest Control (Turner Pest Control)	$3,500	$1,665	$2,673	$2,700	
Repairs & Replacements	$54,000	$46,052	$50,491	$69,610	
Pressure Washing	$4,000	$450	$450	$0	
Recreational Passes	$1,200	$0	$0	$1,200	
Office Supplies	$2,146	$1,214	$1,435	$2,000	
Other Current Charges	$300	$0	$0	$300	
Permit Fees (Pool, ASCAP/BMI/SEASAC)	$1,500	$1,057	$1,407	$1,500	
Utilities
Water & Sewer (STCUD)	
$8,766	
$6,932	
$8,998	
$9,100	
Electric (FPL)	$34,500	$22,010	$31,319	$34,500	
Telephone/Internet (Comcast)	$2,808	$2,125	$2,839	$0	
Cable (DIRECTV)	$1,464	$1,123	$1,489	$0	

Management Contracts

Lifeguards/Pool Monitors (ASG)	$30,964	$14,317	$30,964	$32,200	
Facilty Monitor (ASG)	$18,600	$13,950	$18,600	$27,900	
Facility Management (ASG)	$57,567	$43,175	$57,567	$59,500	
Facility Attendants (ASG)	$16,369	$12,277	$16,369	$17,000	
Field Operations (ASG)	$48,664	$36,498	$48,664	$50,500	
Facility Maintenance (ASG)	$24,000	$18,000	$24,000	$48,000	
Pool Maintenance (ASG)	$14,040	$10,530	$14,040	$14,300	
Pool Chemicals	$11,003	$8,051	$11,003	$12,000	
Janitorial Services (ASG)	$8,700	$6,525	$8,700	$8,800	
Refuse Service (Advance Disposal)	$6,317	$4,487	$5,982	$6,317	
Security - ENVERA	$5,640	$4,230	$5,640	$5,640	
Special Events	$15,000	$10,577	$15,000	$11,000	
Maintenance Reserves	$2,000	$0	$2,000	$0	
Program Director	$3,715	$2,786	$3,715	$5,500	
Total Amenity Center Expenses	$392,783	$282,269	$377,584	$434,519	
Grounds Maintenance					
Electric (FPL)	$6,946	$4,443	$5,844	$6,500	
Streetlighting (FPL)	$34,588	$25,348	$33,881	$34,600	
Lake Maintenance (Future Horizons)	$8,640	$6,480	$8,640	$8,640	
Landscape Maintenance (Duval Landscape)	$265,236	$203,257	$269,566	$265,236	
Landscape Contingency	$10,341	$11,395	$11,395	$28,496	
Pond Bank Reserves	$10,000	$0	$0	$10,000	
Miscellaneous	$3,500	$1,610	$2,500	$8,500	
Irrigation Repairs	$10,000	$7,591	$8,000	$10,000	
Contingency	$5,000	$9,647	$9,647	$0	
Capital Reserves	$47,250	$47,250	$47,250	$60,637	
Total Grounds Maintenance Expenses	$401,502	$317,021	$396,722	$432,609	
					
TOTAL EXPENDITURES	$964,994	$734,201	$951,903	$1,036,448	
					
EXCESS REVENUES / (EXPENDITURES)	$0	$249,145	$47,384	$0	

$	945,994
$	60,354	$1,032,448
$	65,870	
$ 1,006,348	$1,098,319	

740
219	
740
219	
959	959	
$ 1,049.37	$ 1,145.27	

FY 2016	FY 2017
Net Assessments
Add: Discounts & Collection Gross Assessments
Lots:
Phase I Lots Phase II Lots Total Lots
Per Lot Assessment

REVENUES:

Maintenance Assessments

The District will levy a non ad-valorem special assessment on all taxable property within the District to fund all of the General Operating Expenditures for the fiscal year.

Interest Income

Maintenance Assessment income of the District will be invested in accordance with Florida Statutes and the investment guidelines approved by the Board of Supervisors.

Amenities Revenues

Income derived from Special Events benefitting the District.

EXPENDITURES:

Administrative:

Supervisor Fees

Florida Statutes allow each board member to receive $200 per meeting not to exceed
$4,800 in one year. The amount for the fiscal year is based upon five supervisors attending an estimated 12 annual meetings.

FICA Expense

FICA expense represents the Employer's (District’s) share of Social Security and Medicare taxes withheld from the fee paid to the Board of Supervisors.

Engineering

The District's engineering firm, England, Thims & Miller, Inc., may provide general engineering services to the District, including attendance and preparation for monthly board meetings, review invoices, etc.

Arbitrage

The District is required to have an annual arbitrage rebate calculation prepared for its Series 2015A-1/A-2/B-1/B-2 and the Series 2006, Special Assessment Bonds. Grau & Associates currently provides this calculation.

Dissemination Agent

The Annual Disclosure Report prepared by Prager & Co., LLC and required by  the Security and Exchange Commission in order to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.

Trustee

The District’s Series 2015A-1/A-2/B-1/B-2 and Series 2006, Special Assessment Bonds are held by a Trustee with US Bank. This amount represents the annual fee for the administration of the District’s bond issues.

Attorney

The District's legal counsel, Hopping Green & Sams, will provide general legal services to the District, i.e. attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc.

Tax Roll Assessments

GMS, LLC serves as the District’s collection agent and certifies the District’s non-ad valorem assessments with the county tax collector.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. Grau and Associates currently serves as the District’s Independent Auditor.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC.

Information Technology

The cost related to District’s accounting and information systems, District website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.

Telephone

Telephone and fax machine

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc

Insurance (General Liability)

The District's General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance. Florida Insurance Alliance specializes in providing insurance coverage to governmental agencies. The premium is based upon amounts charged to similar Community Development Districts.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings etc and uses The St. Augustine Record.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Miscellaneous office supplies.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Department of Community Affairs for
$175. This is the only expense under this category for the District.

Amenity Center:

Insurance (Property)

The District's property Insurance policy is with Florida Insurance Alliance, FIA specializes in providing insurance coverage to governmental agencies. The amount budgeted represents the estimated premium for property insurance related to the Amenity Center.

Pest Control

The district is contracted with Turner Pest Control to provide pest control services to treat for termites and other insects and purchase of termite bond.

Repair & Replacements

The District has facility maintenance needs, which include surrounding recreational areas, mail kiosk, and lake banks whose cost is not otherwise covered under a contractual agreement.

Recreational Passes

Represents the estimated cost for access cards to the District’s Amenity Center

Office Supplies

Represents any supplies needed for the operation of the Amenity Center.

Other Current Charges

Any unanticipated cost to the Amenity Center

Permit Fees/Licenses

Represents Permit Fees paid to the Department of Health for the swimming pool and other license that the amenity center may require from ASCAP, BMI, and SEASAC.

Water & Sewer

The cost of water / sewer associated at the Amenity Center from St Johns County Utility Department.

Account Number	Description	Monthly	Annual	
515577-114371	101 W Positano Ave - Water	$	262	$	3,149	
532445-124596	123 E Franchetta Dr - Water	$	31	$	369	
532445-124406	4106 Messina Dr - Water	$	34	$	406	
532445-124405	168 Toscana Ln	$	33	$	393	
				
515577-114371	101 W Positano Ave - Sewer	$	332	$	3,984	
532445-124596	123 E Franchetta Dr - Sewer	$	35	$	421	
	Contingency	$	32	$	378	
	Total	$	758	$	9,100	

Electric

The cost of electric at the Amenity Center supplied from FPL.

Account Number	Description	Monthly	Annual	
2722888282	101 W Positano Ave	$	2,222	$	26,664	
6889119035	101 W Positano Ave #1	$	377	$	4,518	
	Contingency	$	277	$	3,318	
	Total	$	2,875	$	34,500	

Telephone/Cable/Internet

Comcast is providing the District cost-free phone, cable, and internet service under terms of an agreement reached between the District and Comcast.

Pool Attendants/Pool Monitors/Lifeguards

The District is under contract with Amenity Services Group and this is the cost to provide pool attendants, pool monitors, and lifeguards during the operating season

Contract	Monthly	Annual	
Amenity Services Group	2,683.33	32,200.00	
Facility Monitor

The District is under contract with Amenity Services Group for a variety of clubhouse services including facility monitors for amenity center.

Contract	Monthly	Annual	
Amenity Services Group	2,325.00	27,900.00	

Facility Management

The District is under contract with Amenity Services Group for a variety of clubhouse services including an onsite Manager.

Contract	Monthly	Annual	
Amenity Services Group	4,958.33	59,500.00	
Facility Attendants

The District is under contract with Amenity Services Group to provide recreational activities at the Amenity Center and will have on-site personnel during daily hours of operation.
Contract	Monthly	Annual	
Amenity Services Group	1,416.67	17,000.00	
Field Operations

The District is under contract with Amenity Services Group to provide field operations & contract administration services.

Contract	Monthly	Annual	
Amenity Services Group	4,208.33	50,500.00	

Facility Maintenance

The District is under contract with Amenity Services Group for the maintenance of the Amenity Center.

Contract	Monthly	Annual	
Amenity Services Group	4,000.00	48,000.00	

Pool Maintenance

The District is under contract with Amenity Services Group for the maintenance of the Amenity Center swimming pool and facilities.

Contract	Monthly	Annual	
Amenity Services Group	1,191.67	14,300.00	
Pool Chemicals

The District, contracts with Poolsure Inc, to provide chemicals necessary for the maintenance of the Amenity Center swimming pool.

Contract	Monthly	Annual	
Poolsure	1,000.00	12,000.00	
Janitorial Services

The District is under contract with ASG to have janitorial services provided for the Amenity Center.

Contract	Monthly	Annual	
Amenity Services Group	733.33	8,800.00	
Refuse Service

Garbage disposal service is with Advance Disposal

Contract	Monthly	Annual	
Advance Disposal	526.42	6,317.00	
Security

The District has contracted with Envera for security monitoring for the Amenity Center an billed quarterly.

Contract	Monthly	Annual	
Envera	470.00	5,640.00	

Special Events

Represents estimated costs for the District to host special events for the community throughout the Fiscal Year.

Maintenance Reserves

The District will establish a Maintenance reserve to fund the renewal and replacement of District’s capital related facilities.

Program Director

The District will provide a part-time Program Director under the Amenity Service Group contract in order to facilitate activities provided by ASG.

Contract	Monthly	Annual	
Amenity Services Group	458.33	5,500.00	

Ground Maintenance:

Electric – Common Area

The cost of electricity for signage lighting and entry feature lighting for the District.

Account Number	Description	Monthly	Annual Amount	
9623601409	100 Terrancina Dr # Light	$	79	$	942	
9561370132	100 W Positano Ave	$	127	$	1,521	
5841524282	111 W Positano Ave # Kiosk	$	21	$	253	
8189715355	168 Toscana Lane	$	83	$	999	
2781798307	5085 State Road 16 # Light	$	24	$	287	
5191830404	5335 San Giaconio	$	21	$	248	
6555783429	5335 State Rd 16 #1	$	126	$	1,516	
5907098254	90 E Franchetta Ln # Light	$	11	$	127	
	Contingency	$	51	$	607	
	Total	$	542	$	6,500	
Street Lighting

The District street lighting cost for the community

Account Number	Description	Monthly	Annual Amount	
2298893591	W Bonaventure Way	$	2,730	$	32,765	
4217317033	Verona Way	$	79	$	953	
	Contingency	$	74	$	882	
	Total	$	2,883	$	34,600	
Lake Maintenance

The District has 22 storm water management ponds that are required by the County and the St. Johns River Water Management District to provide for treatment of storm water runoff. The District is under contract with Future Horizons. to maintain the 22 storm water ponds.

Contract	Monthly	Annual Amount	
Future Horizons	$	720	$	8,640	

Landscape Maintenance

The District is under contract with Duval Landscape to have the landscaping of the common areas of the District maintained.

Contract	Monthly	Annual Amount	
Duval Landscape	$	22,103	$	265,236	

Landscape Contingency

Any unanticipated landscape cost for tree removal or other landscape cost incurred by the District.

Pond Bank Reserves

Funds allocated for remediation work of pond bank issues requiring Board approval.

Miscellaneous

Any unanticipated and unscheduled maintenance cost to the District.

Irrigation Repairs

Any miscellaneous irrigation repairs and maintenance incurred by the District.

Contingency

A contingency for any unanticipated cost to the District

Capital Reserves

Future funding needed for the upkeep of Turnbull Creek infrastructure.

Turnbull Creek	Debt Service Fund Community Development District		Series 2015A

	Adopted
Budget	
Actual YTD	
Projected	Adopted
Budget	
Description	FY 2016	6/30/16	9/30/16	FY 2017	

Revenues					
Carry Forward Surplus (1)	$281,676	$267,704	$267,704	$267,704	
Interest Income	$50	$1,011	$1,072	$300	
Assessments	$989,969	$991,804	$989,968	$989,969	
Prepayments A1	$0	$13,616	$13,616	$0	
Prepayments A2	$0	$3,483	$3,483	$0	
Total Revenues	$1,271,695	$1,277,619	$1,275,844	$1,257,973	

Expenditures					
Series 2015 A-1
Interest 11/1	
$193,007	
$193,007	
$193,007	
$190,569	
Interest 5/1	$193,007	$193,007	$193,007	$190,569	
Principal 5/1	$390,000	$390,000	$390,000	$395,000	
Series 2015 A-2
Interest 11/1	
$64,719	
$64,719	
$64,719	
$62,344	
Interest 5/1	$64,719	$64,719	$64,719	$62,344	
Principal 5/1	$85,000	$85,000	$85,000	$90,000	
Special Call 5/1	$27,974	$15,000	$15,000	$15,000	
Total Expenditures	$1,018,426	$1,005,451	$1,005,451	$1,005,826	
					
EXCESS REVENUES / (EXPENDITURES)	$253,269	$272,167	$270,393	$252,146	

(1) Net of Debt Service Reserve Funds					
Debt Service for 11/01/2017:	
Interest	$187,409	
Interest	$60,206	
Total	$247,616	

Debt as Issued   With Payoffs
Net Assessments	$1,093,185	$989,969
Add: Disc. and Collections (6%	$69,745	$63,189	
Gross Assessments	$1,162,930	$1,053,158	

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
11/01/16	$	10,260,000.00		-	$	190,569.38	$	245,547.64	
05/01/17	$	10,260,000.00	1.600%	$	395,000.00	$	190,569.38	-	
11/01/17	$	9,865,000.00		-	$	187,409.38	$	772,978.76	
05/01/18	$	9,865,000.00	2.000%	$	405,000.00	$	187,409.38	-	
11/01/18	$	9,460,000.00		-	$	183,359.38	$	775,768.76	
05/01/19	$	9,460,000.00	2.300%	$	415,000.00	$	183,359.38	-	
11/01/19	$	9,045,000.00		-	$	178,586.88	$	776,946.26	
05/01/20	$	9,045,000.00	2.600%	$	425,000.00	$	178,586.88	-	
11/01/20	$	8,620,000.00			$	173,061.88	$	776,648.76	
05/01/21	$	8,620,000.00	2.850%	$	435,000.00	$	173,061.88	-	
11/01/21	$	8,185,000.00		-	$	166,863.13	$	774,925.01	
05/01/22	$	8,185,000.00	3.150%	$	450,000.00	$	166,863.13	-	
11/01/22	$	7,735,000.00		-	$	159,775.63	$	776,638.76	
05/01/23	$	7,735,000.00	3.400%	$	465,000.00	$	159,775.63	-	
11/01/23	$	7,270,000.00		-	$	151,870.63	$	776,646.26	
05/01/24	$	7,270,000.00	3.750%	$	480,000.00	$	151,870.63	-	
11/01/24	$	6,790,000.00		-	$	143,110.63	$	774,981.26	
05/01/25	$	6,790,000.00	3.850%	$	500,000.00	$	143,110.63		
11/01/25	$	6,290,000.00		-	$	133,735.63	$	776,846.26	
05/01/26	$	6,290,000.00	4.000%	$	515,000.00	$	133,735.63		
11/01/26	$	5,775,000.00		-	$	123,821.88	$	772,557.51	
05/01/27	$	5,775,000.00	4.000%	$	540,000.00	$	123,821.88		
11/01/27	$	5,235,000.00		-	$	113,021.88	$	776,843.76	
05/01/28	$	5,235,000.00	4.250%	$	560,000.00	$	113,021.88		
11/01/28	$	4,675,000.00		-	$	101,121.88	$	774,143.76	
05/01/29	$	4,675,000.00	4.250%	$	585,000.00	$	101,121.88		
11/01/29	$	4,090,000.00		$	-	$	88,690.63	$	774,812.51	
05/01/30	$	4,090,000.00	4.250%	$	610,000.00	$	88,690.63		
11/01/30	$	3,480,000.00		0	$	75,728.13	$	774,418.76	
05/01/31	$	3,480,000.00	4.250%	$	635,000.00	$	75,728.13	-	
11/01/31	$	2,845,000.00		-	$	62,234.38	$	772,962.51	
05/01/32	$	2,845,000.00	4.375%	$	665,000.00	$	62,234.38	-	
11/01/32	$	2,180,000.00		-	$	47,687.50	$	774,921.88	
05/01/33	$	2,180,000.00	4.375%	$	695,000.00	$	47,687.50	-	
11/01/33	$	1,485,000.00		-	$	32,484.38	$	775,171.88	
05/01/34	$	1,485,000.00	4.375%	$	725,000.00	$	32,484.38	-	
11/01/34	$	760,000.00		-	$	16,625.00	$	774,109.38	
05/01/35	$	760,000.00	4.375%	$	760,000.00	$	16,625.00	-	
11/01/35	$	-	-		$	776,625.00	
	$	10,260,000.00	$	4,659,516.42	$	14,974,494.68	

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
11/01/16	$	2,625,000.00		-	$	62,343.75	$	62,343.75	
05/01/17	$	2,625,000.00	4.750%	$	90,000.00	$	62,343.75	-	
11/01/17	$	2,535,000.00		-	$	60,206.25	$	212,550.00	
05/01/18	$	2,535,000.00	4.750%	$	90,000.00	$	60,206.25	-	
11/01/18	$	2,445,000.00		-	$	58,068.75	$	208,275.00	
05/01/19	$	2,445,000.00	4.750%	$	95,000.00	$	58,068.75	-	
11/01/19	$	2,350,000.00		-	$	55,812.50	$	208,881.25	
05/01/20	$	2,350,000.00	4.750%	$	100,000.00	$	55,812.50	-	
11/01/20	$	2,250,000.00			$	53,437.50	$	209,250.00	
05/01/21	$	2,250,000.00	4.750%	$	105,000.00	$	53,437.50	-	
11/01/21	$	2,145,000.00		-	$	50,943.75	$	209,381.25	
05/01/22	$	2,145,000.00	4.750%	$	110,000.00	$	50,943.75	-	
11/01/22	$	2,035,000.00		-	$	48,331.25	$	209,275.00	
05/01/23	$	2,035,000.00	4.750%	$	115,000.00	$	48,331.25	-	
11/01/23	$	1,920,000.00		-	$	45,600.00	$	208,931.25	
05/01/24	$	1,920,000.00	4.750%	$	120,000.00	$	45,600.00	-	
11/01/24	$	1,800,000.00		-	$	42,750.00	$	208,350.00	
05/01/25	$	1,800,000.00	4.750%	$	130,000.00	$	42,750.00		
11/01/25	$	1,670,000.00		-	$	39,662.50	$	212,412.50	
05/01/26	$	1,670,000.00	4.750%	$	135,000.00	$	39,662.50		
11/01/26	$	1,535,000.00		-	$	36,456.25	$	211,118.75	
05/01/27	$	1,535,000.00	4.750%	$	140,000.00	$	36,456.25		
11/01/27	$	1,395,000.00		-	$	33,131.25	$	209,587.50	
05/01/28	$	1,395,000.00	4.750%	$	145,000.00	$	33,131.25		
11/01/28	$	1,250,000.00		-	$	29,687.50	$	207,818.75	
05/01/29	$	1,250,000.00	4.750%	$	155,000.00	$	29,687.50		
11/01/29	$	1,095,000.00		-	$	26,006.25	$	210,693.75	
05/01/30	$	1,095,000.00	4.750%	$	160,000.00	$	26,006.25		
11/01/30	$	935,000.00		-	$	22,206.25	$	208,212.50	
05/01/31	$	935,000.00	4.750%	$	170,000.00	$	22,206.25	-	
11/01/31	$	765,000.00		-	$	18,168.75	$	210,375.00	
05/01/32	$	765,000.00	4.750%	$	180,000.00	$	18,168.75	-	
11/01/32	$	585,000.00		-	$	13,893.75	$	212,062.50	
05/01/33	$	585,000.00	4.750%	$	185,000.00	$	13,893.75	-	
11/01/33	$	400,000.00		-	$	9,500.00	$	208,393.75	
05/01/34	$	400,000.00	4.750%	$	195,000.00	$	9,500.00	-	
11/01/34	$	205,000.00		-	$	4,868.75	$	209,368.75	
05/01/35	$	205,000.00	4.750%	$	205,000.00	$	4,868.75	-	

11/01/35	$	-

-    $	-	$

209,868.75

$	2,625,000.00    $	1,422,150.00    $	4,047,150.00

Turnbull Creek		Debt Service Fund Community Development District	Pond Bank Remediation Series 2015B

	Adopted
Budget	Actual
YTD	
Projected	Adopted
Budget	
Description	FY 2016	6/30/16	9/30/16	FY 2017	

Revenues					
Carry Forward Surplus (1)	$34,195	$47,315	$47,315	$34,195	
Interest Income	$0	$84	$35	$0	
Assessments	$79,403	$79,464	$79,318	$79,318	
Prepayments B1	$0	$1,010	$1,010	$0	
Prepayments B2	$0	$257	$0	$0	
Total Revenues	$113,598	$128,130	$127,677	$113,513	

Expenditures					
Series 2015B1
Interest 11/1	
$20,610	
$20,610	
$20,610	
$20,485	
Interest 5/1	$20,610	$20,610	$20,610	$20,485	
Principal 5/1	$20,000	$20,000	$20,000	$20,000	
Series 2015B2
Interest 11/1	
$6,269	
$6,269	
$6,269	
$6,150	
Interest 5/1	$6,269	$6,269	$6,269	$6,150	
Principal 5/1	$5,000	$5,000	$5,000	$5,000	
Special Call 5/1	$8,206	$0	$0	$0	
Total Expenditures	$86,963	$78,758	$78,758	$78,270	
					
EXCESS REVENUES / (EXPENDITURES)	$26,635	$49,373	$48,920	$35,243	
(1) Net of Debt Service Reserve Funds					
Debt Service for 11/01/2017:	
Interest	$6,031	
	$20,325	
Total	$26,356	

Net Assessments
Add: Disc. and Collections (6%) Gross Assessments	$79,318
$5,063	
	$84,381	

Series 2015B-1 Senior Assessment Bonds
AMORTIZATION SCHEDULE

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
11/01/16	$	1,000,000.00	1.250%	-	$	20,485.00	$	61,095.00	
05/01/17	$	1,000,000.00	1.600%	$	20,000.00	$	20,485.00	-	
11/01/17	$	980,000.00	1.600%	-	$	20,325.00	$	60,810.00	
05/01/18	$	980,000.00	2.000%	$	20,000.00	$	20,325.00	-	
11/01/18	$	960,000.00	2.000%	-	$	20,125.00	$	60,450.00	
05/01/19	$	960,000.00	2.300%	$	20,000.00	$	20,125.00	-	
11/01/19	$	940,000.00	2.300%	-	$	19,895.00	$	60,020.00	
05/01/20	$	940,000.00	2.600%	$	20,000.00	$	19,895.00	-	
11/01/20	$	920,000.00	2.600%	-	$	19,635.00	$	59,530.00	
05/01/21	$	920,000.00	2.850%	$	20,000.00	$	19,635.00	-	
11/01/21	$	900,000.00	2.850%	-	$	19,350.00	$	58,985.00	
05/01/22	$	900,000.00	3.150%	$	25,000.00	$	19,350.00	-	
11/01/22	$	875,000.00	3.150%	-	$	18,956.25	$	63,306.25	
05/01/23	$	875,000.00	3.400%	$	25,000.00	$	18,956.25	-	
11/01/23	$	850,000.00	3.400%	-	$	18,531.25	$	62,487.50	
05/01/24	$	850,000.00	3.750%	$	25,000.00	$	18,531.25	-	
11/01/24	$	825,000.00	3.750%	-	$	18,075.00	$	61,606.25	
05/01/25	$	825,000.00	3.850%	$	25,000.00	$	18,075.00		
11/01/25	$	800,000.00	3.850%	-	$	17,606.25	$	60,681.25	
05/01/26	$	800,000.00	4.000%	$	25,000.00	$	17,606.25		
11/01/26	$	775,000.00	4.000%	-	$	17,125.00	$	59,731.25	
05/01/27	$	775,000.00	4.000%	$	30,000.00	$	17,125.00		
11/01/27	$	745,000.00	4.000%	-	$	16,525.00	$	63,650.00	
05/01/28	$	745,000.00	4.250%	$	30,000.00	$	16,525.00		
11/01/28	$	715,000.00	4.250%	-	$	15,887.50	$	62,412.50	
05/01/29	$	715,000.00	4.250%	$	30,000.00	$	15,887.50		
11/01/29	$	685,000.00	4.250%	-	$	15,250.00	$	61,137.50	
05/01/30	$	685,000.00	4.250%	$	30,000.00	$	15,250.00		
11/01/30	$	655,000.00	4.250%		$	14,612.50	$	59,862.50	
05/01/31	$	655,000.00	4.250%	$	30,000.00	$	14,612.50	-	
11/01/31	$	625,000.00	4.250%	-	$	13,975.00	$	58,587.50	
05/01/32	$	625,000.00	4.375%	$	30,000.00	$	13,975.00	-	
11/01/32	$	595,000.00	4.375%	-	$	13,318.75	$	57,293.75	
05/01/33	$	595,000.00	4.375%	$	35,000.00	$	13,318.75	-	
11/01/33	$	560,000.00	4.375%	-	$	12,553.13	$	60,871.88	
05/01/34	$	560,000.00	4.375%	$	35,000.00	$	12,553.13	-	
11/01/34	$	525,000.00	4.375%	-	$	11,787.50	$	59,340.63	
05/01/35	$	525,000.00	4.375%	$	40,000.00	$	11,787.50	-	
11/01/35	$	485,000.00	4.375%	-	$	10,912.50	$	62,700.00	
05/01/36	$	485,000.00	4.500%	$	40,000.00	$	10,912.50	-	
11/01/36	$	445,000.00	4.500%	-	$	10,012.50	$	60,925.00	
05/01/37	$	445,000.00	4.500%	$	40,000.00	$	10,012.50	-	
11/01/37	$	405,000.00	4.500%	-	$	9,112.50	$	59,125.00	
05/01/38	$	405,000.00	4.500%	$	45,000.00	$	9,112.50	-	
11/01/38	$	360,000.00	4.500%	-	$	8,100.00	$	62,212.50	
05/01/39	$	360,000.00	4.500%	$	45,000.00	$	8,100.00	-	
11/01/39	$	315,000.00	4.500%	-	$	7,087.50	$	60,187.50	
05/01/40	$	315,000.00	4.500%	$	45,000.00	$	7,087.50	-	
11/01/40	$	270,000.00	4.500%	-	$	6,075.00	$	58,162.50	
05/01/41	$	270,000.00	4.500%	$	50,000.00	$	6,075.00	-	
11/01/41	$	220,000.00	4.500%	-	$	4,950.00	$	61,025.00	
05/01/42	$	220,000.00	4.500%	$	50,000.00	$	4,950.00	-	
11/01/42	$	170,000.00	4.500%	-	$	3,825.00	$	58,775.00	
05/01/43	$	170,000.00	4.500%	$	55,000.00	$	3,825.00	-	
11/01/43	$	115,000.00	4.500%	-	$	2,587.50	$	61,412.50	
05/01/44	$	115,000.00	4.500%	$	55,000.00	$	2,587.50	-	
11/01/44	$	60,000.00	4.500%	-	$	1,350.00	$	58,937.50	
05/01/45	$	60,000.00	4.500%	$	60,000.00	$	1,350.00	-	
11/01/45					$	61,350.00	
			$	1,000,000.00	$	776,061.26	$	1,816,671.26	

Series 2015B-2 Subordinate Special Assessment Bonds
AMORTIZATION SCHEDULE

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
11/01/16	$	255,000.00	4.750%	-	$	6,150.00	$	17,418.75	
05/01/17	$	255,000.00	4.750%	$	5,000.00	$	6,150.00	-	
11/01/17	$	250,000.00	4.750%	-	$	6,031.25	$	17,181.25	
05/01/18	$	250,000.00	4.750%	$	5,000.00	$	6,031.25	-	
11/01/18	$	245,000.00	4.750%	-	$	5,912.50	$	16,943.75	
05/01/19	$	245,000.00	4.750%	$	5,000.00	$	5,912.50	-	
11/01/19	$	240,000.00	4.750%	-	$	5,793.75	$	16,706.25	
05/01/20	$	240,000.00	4.750%	$	5,000.00	$	5,793.75	-	
11/01/20	$	235,000.00	4.750%	-	$	5,675.00	$	16,468.75	
05/01/21	$	235,000.00	4.750%	$	5,000.00	$	5,675.00	-	
11/01/21	$	230,000.00	4.750%	-	$	5,556.25	$	16,231.25	
05/01/22	$	230,000.00	4.750%	$	5,000.00	$	5,556.25	-	
11/01/22	$	225,000.00	4.750%	-	$	5,437.50	$	15,993.75	
05/01/23	$	225,000.00	4.750%	$	5,000.00	$	5,437.50	-	
11/01/23	$	220,000.00	4.750%	-	$	5,318.75	$	15,756.25	
05/01/24	$	220,000.00	4.750%	$	5,000.00	$	5,318.75	-	
11/01/24	$	215,000.00	4.750%	-	$	5,200.00	$	15,518.75	
05/01/25	$	215,000.00	4.750%	$	5,000.00	$	5,200.00		
11/01/25	$	210,000.00	4.750%	-	$	5,081.25	$	15,281.25	
05/01/26	$	210,000.00	4.750%	$	5,000.00	$	5,081.25		
11/01/26	$	205,000.00	4.750%	-	$	4,962.50	$	15,043.75	
05/01/27	$	205,000.00	4.750%	$	5,000.00	$	4,962.50		
11/01/27	$	200,000.00	4.750%	-	$	4,843.75	$	14,806.25	
05/01/28	$	200,000.00	4.750%	$	5,000.00	$	4,843.75		
11/01/28	$	195,000.00	4.750%	-	$	4,725.00	$	14,568.75	
05/01/29	$	195,000.00	4.750%	$	5,000.00	$	4,725.00		
11/01/29	$	190,000.00	4.750%	-	$	4,606.25	$	14,331.25	
05/01/30	$	190,000.00	4.750%	$	10,000.00	$	4,606.25		
11/01/30	$	180,000.00	4.750%		$	4,368.75	$	18,975.00	
05/01/31	$	180,000.00	4.750%	$	10,000.00	$	4,368.75	-	
11/01/31	$	170,000.00	4.750%		$	4,131.25	$	18,500.00	
05/01/32	$	170,000.00	4.750%	$	10,000.00	$	4,131.25	-	
11/01/32	$	160,000.00	4.750%		$	3,893.75	$	18,025.00	
05/01/33	$	160,000.00	4.750%	$	10,000.00	$	3,893.75	-	
11/01/33	$	150,000.00	4.750%		$	3,656.25	$	17,550.00	
05/01/34	$	150,000.00	4.750%	$	10,000.00	$	3,656.25	-	
11/01/34	$	140,000.00	4.750%		$	3,418.75	$	17,075.00	
05/01/35	$	140,000.00	4.750%	$	10,000.00	$	3,418.75	-	
11/01/35	$	130,000.00	4.750%		$	3,181.25	$	16,600.00	
05/01/36	$	130,000.00	4.750%	$	10,000.00	$	3,181.25	-	
11/01/36	$	120,000.00	4.750%		$	2,943.75	$	16,125.00	
05/01/37	$	120,000.00	4.750%	$	10,000.00	$	2,943.75	-	
11/01/37	$	110,000.00	4.750%		$	2,706.25	$	15,650.00	
05/01/38	$	110,000.00	4.750%	$	10,000.00	$	2,706.25	-	
11/01/38	$	100,000.00	4.750%		$	2,468.75	$	15,175.00	
05/01/39	$	100,000.00	4.750%	$	10,000.00	$	2,468.75	-	
11/01/39	$	90,000.00	4.750%		$	2,231.25	$	14,700.00	
05/01/40	$	90,000.00	4.750%	$	15,000.00	$	2,231.25	-	
11/01/40	$	75,000.00	4.750%		$	1,875.00	$	19,106.25	
05/01/41	$	75,000.00	5.000%	$	15,000.00	$	1,875.00	-	
11/01/41	$	60,000.00	5.000%	-	$	1,500.00	$	18,375.00	
05/01/42	$	60,000.00	5.000%	$	15,000.00	$	1,500.00	-	
11/01/42	$	45,000.00	5.000%	-	$	1,125.00	$	17,625.00	
05/01/43	$	45,000.00	5.000%	$	15,000.00	$	1,125.00	-	
11/01/43	$	30,000.00	5.000%	-	$	750.00	$	16,875.00	
05/01/44	$	30,000.00	5.000%	$	15,000.00	$	750.00	-	
11/01/44	$	15,000.00	5.000%	-	$	375.00	$	16,125.00	
05/01/45	$	15,000.00	5.000%	$	15,000.00	$	375.00	-	
11/01/45					$	15,375.00	
			$	255,000.00	$	227,837.50	$	494,106.25	

Turnbull Creek
Community Development District	Debt Service Fund
Series 2016

	Proposed
Budget	
Actual YTD	
Projected	Adopted
Budget	
Description	FY 2016	6/30/16	9/30/16	FY 2017	

Revenues					
Carry Forward Surplus	$0	$0	$0	$78,920	
Interest Income	$0	$0	$0	$0	
Assessments	$316,630	$0	$0	$287,855	
Total Revenues	$316,630	$0	$0	$366,774	

Expenditures					
Series 2016					
Interest 11/1	$0	$0	$0	$78,920	
Interest 5/1	$0	$0	$0	$77,626	
Principal 5/1	$0	$0	$0	$135,000	
Special Call 5/1	$0	$0	$0	$0	
Total Expenditures	$0	$0	$0	$291,546	
					
EXCESS REVENUES / (EXPENDITURES)	$316,630	$0	$0	$75,229	

Debt Service for 11/01/2017:

Interest	$75,129	
Total	$75,129	

Net Assessments	$287,855
Add: Discounts and Collections	$18,365	
Gross Assessments	$306,220	

Turnbull Creek
Community Development District
Series 2016 Special Assessment Refunding and Revenue Bond

AMORTIZATION SCHEDULE

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
						
11/01/16	$	4,196,000.00	3.70%	-	$	78,919.77	$	78,919.77	
05/01/17	$	4,196,000.00	3.70%	$	135,000.00	$	77,626.00	-	
11/01/17	$	4,061,000.00	3.70%		$	75,128.50	$	287,754.50	
05/01/18	$	4,061,000.00	3.70%	$	140,000.00	$	75,128.50	-	
11/01/18	$	3,921,000.00	3.70%	-	$	72,538.50	$	287,667.00	
05/01/19	$	3,921,000.00	3.70%	$	145,000.00	$	72,538.50	-	
11/01/19	$	3,776,000.00	3.70%	-	$	69,856.00	$	287,394.50	
05/01/20	$	3,776,000.00	3.70%	$	150,000.00	$	69,856.00	-	
11/01/20	$	3,626,000.00	3.70%	-	$	67,081.00	$	286,937.00	
05/01/21	$	3,626,000.00	3.70%	$	156,000.00	$	67,081.00	-	
11/01/21	$	3,470,000.00	3.70%	-	$	64,195.00	$	287,276.00	
05/01/22	$	3,470,000.00	3.70%	$	162,000.00	$	64,195.00	-	
11/01/22	$	3,308,000.00	3.70%	-	$	61,198.00	$	287,393.00	
05/01/23	$	3,308,000.00	3.70%	$	168,000.00	$	61,198.00	-	
11/01/23	$	3,140,000.00	3.70%	-	$	58,090.00	$	287,288.00	
05/01/24	$	3,140,000.00	3.70%	$	174,000.00	$	58,090.00	-	
11/01/24	$	2,966,000.00	3.70%	-	$	54,871.00	$	286,961.00	
05/01/25	$	2,966,000.00	3.70%	$	181,000.00	$	54,871.00		
11/01/25	$	2,785,000.00	3.70%	-	$	51,522.50	$	287,393.50	
05/01/26	$	2,785,000.00	3.70%	$	188,000.00	$	51,522.50		
11/01/26	$	2,597,000.00	3.70%	-	$	48,044.50	$	287,567.00	
05/01/27	$	2,597,000.00	3.70%	$	195,000.00	$	48,044.50		
11/01/27	$	2,402,000.00	3.70%	-	$	44,437.00	$	287,481.50	
05/01/28	$	2,402,000.00	3.70%	$	202,000.00	$	44,437.00		
11/01/28	$	2,200,000.00	3.70%	-	$	40,700.00	$	287,137.00	
05/01/29	$	2,200,000.00	3.70%	$	210,000.00	$	40,700.00		
11/01/29	$	1,990,000.00	3.70%	-	$	36,815.00	$	287,515.00	
05/01/30	$	1,990,000.00	3.70%	$	218,000.00	$	36,815.00		
11/01/30	$	1,772,000.00	3.70%		$	32,782.00	$	287,597.00	
05/01/31	$	1,772,000.00	3.70%	$	226,000.00	$	32,782.00	-	
11/01/31	$	1,546,000.00	3.70%	-	$	28,601.00	$	287,383.00	
05/01/32	$	1,546,000.00	3.70%	$	235,000.00	$	28,601.00	-	
11/01/32	$	1,311,000.00	3.70%	-	$	24,253.50	$	287,854.50	
05/01/33	$	1,311,000.00	3.70%	$	243,000.00	$	24,253.50	-	
11/01/33	$	1,068,000.00	3.70%	-	$	19,758.00	$	287,011.50	
05/01/34	$	1,068,000.00	3.70%	$	252,000.00	$	19,758.00	-	
11/01/34	$	816,000.00	3.70%	-	$	15,096.00	$	286,854.00	
05/01/35	$	816,000.00	3.70%	$	262,000.00	$	15,096.00	-	
11/01/35	$	554,000.00	3.70%	-	$	10,249.00	$	287,345.00	
05/01/36	$	554,000.00	3.70%	$	272,000.00	$	10,249.00	-	
11/01/36	$	282,000.00	3.70%		$	5,217.00	$	287,466.00	
05/01/37	$	282,000.00	3.70%	$	282,000.00	$	5,217.00		
11/01/37	$	282,000.00	3.70%			$	287,217.00	
			$	4,196,000.00	$	1,917,412.77	$	6,113,412.77	

Turnbull Creek
Community Development District	Capital Reserve Fund

	Adopted
Budget	Actual
YTD	
Projected	Adopted
Budget	
Description	FY 2016	6/30/16	9/30/16	FY 2017	

REVENUES:					
Capital Reserve - Transfer In	$47,250	$47,250	$47,250	$60,637	
Carry Forward Surplus	$237,046	$238,474	$238,474	$264,989	
Total Revenues	$284,296	$285,724	$285,724	$325,626	

EXPENDITURES:					
Capital Outlay	$0	$1,724	$1,724	$149,404	
Repair and Replacements	$0	$19,011	$19,011	$0	
Tootal Expenditures	$0	$20,735	$20,735	$149,404	
					
EXCESS REVENUES / (EXPENDITURES)	$284,296	$264,989	$264,989	$176,222