Adopted Budget
Fiscal Year 2021

Lake Ashton II Community Development District

August 21, 2020

Lake Ashton II
Community Development District

TABLE OF CONTENTS

General Fund
Budget	Page 1-2
Narrative-Administrative	Page 3
Narrative-Field	Page 4

Capital Projects Fund
Budget	Page 5

Debt Service Fund
Budget - Series 2005A	Page 6
Amortization Schedule - 2005A	Page 7

Budget - Series 2006A	Page 8
Amortization Schedule - 2006A	Page 9

Lake Ashton II
Community Development District										
General Fund	
		Adopted		Actual		Projected		Total		Adopted	
		Budget		Thru		Next		Projected		Budget	
 Description			 	FY 2020			 	7/31/20			 	2 Months			 	9/30/20			 	FY 2021		
REVENUES:											
Special Assessments - Tax Collector		$1,218,686		$1,197,403		$0		$1,197,403		$1,445,344	
Special Assessments - Direct		$0		$26,303		$0		$26,303		$0	
Interest Earned		$1,500		$1,508		$150		$1,658		$1,500	
Rental Fees		$5,200		$750		$0		$750		$5,200	
Security Guard Revenue		$0		$1,000		$0		$1,000		$0	
Table Rentals		$0		$160		$0		$160		$0	
Off Duty Officer Revenue		$0		$544		$0		$544		$0	
Contributions		$0		$2,641		$0		$2,641		$0	
Miscellaneous Revenues		$0		$122,075		$0		$122,075		$0	
Carry Forward Surplus		$202,533		$136,419		$0		$136,419		$170,344	
 TOTAL  REVENUES			 	$1,427,919 		 	$1,488,803 		 	$150 		 	$1,488,953 		 	$1,622,388 	
EXPENDITURES:											
ADMINISTRATIVE											
Arbitrage Consultant		$1,200		$1,200		$0		$1,200		$1,200	
Annual Audit		$6,000		$4,800		$0		$4,800		$4,900	
Computer Time		$1,000		$833		$167		$1,000		$1,000	
Dissemination Agent		$6,200		$6,000		$1,000		$7,000		$6,500	
Dues, Licenses & Subscriptions		$175		$175		$0		$175		$175	
Insurance		$33,036		$31,393		$0		$31,393		$11,182	
Legal Advertising		$500		$1,598		$1,141		$2,739		$1,500	
Management Fees		$46,350		$38,625		$7,725		$46,350		$60,000	
Office Supplies		$300		$114		$23		$137		$250	
Other Current Charges		$2,700		$4,969		$282		$5,250		$2,700	
Golf Course Due Diligence		$0		$218,380		$0		$218,380		$0	
Postage		$1,500		$1,552		$310		$1,862		$2,000	
Copies		$1,500		$872		$174		$1,047		$1,000	
Telephone		$50		$23		$5		$27		$50	
Trustee Fees		$6,500		$0		$0		$0		$13,963	
 TOTAL ADMINISTRATIVE EXPENDITURES			 	$107,011 		 	$310,533 		 	$10,826 		 	$321,360 		 	$106,420 	

Lake Ashton II
Community Development District										
General Fund	
		Adopted		Actual		Projected		Total		Adopted	
		Budget		Thru		Next		Projected		Budget	
 Description			 	FY 2020			 	7/31/20			 	2 Months			 	9/30/20			 	FY 2021		
FIELD EXPENDITURES											
Attorney		$40,000		$45,301		$15,100		$60,402		$40,000	
Building Contract Services		$53,160		$34,341		$6,868		$41,210		$43,920	
Building/Grounds Maintenance Supplies		$31,350		$27,113		$5,423		$32,535		$40,000	
Contingency		$30,000		$20,854		$4,171		$25,025		$0	
Engineering		$8,000		$15,084		$3,017		$18,101		$15,000	
HFC Special Events		$3,000		$534		$0		$534		$5,000	
Landscape Contract Services		$175,222		$160,145		$29,936		$190,080		$179,604	
Irrigation Maintenance		$0		$0		$0		$0		$2,000	
Lake Maintenance		$0		$0		$0		$0		$35,560	
Office Supplies/Printing/Binding		$7,000		$8,809		$1,762		$10,571		$13,000	
Permits/Inspections		$1,500		$1,698		$0		$1,698		$1,500	
Personnel Expenses		$228,336		$196,014		$27,362		$223,376		$245,950	
Property Insurance		$0		$0		$0		$0		$21,854	
Security Contract Services		$252,079		$205,119		$30,862		$235,981		$200,170	
Utilities		$209,331		$153,945		$30,789		$184,734		$215,000	
 TOTAL FIELD EXPENDITURES			 	$1,038,978 		 	$868,959 		 	$155,290 		 	$1,024,248 		 	$1,058,558 	
First Quarter Operating Reserves		$202,533		$0		$0		$0		$265,271	
 TOTAL RESERVE EXPENDITURES			 	$202,533 		 	$0 		 	$0 		 	$0 		 	$265,271 	
OTHER SOURCES/(USES)											
Interfund Transfers In/(Out)		($79,398)		$27,000		$0		$27,000		($192,139)	
 TOTAL  EXPENDITURES			 	$1,427,919 		 	$1,152,492 		 	$166,116 		 	$1,318,608 		 	$1,622,388 	
 Assigned Fund Balance			$0		$336,311		($165,966)		$170,344		$0	
		FY 2017		FY 2018		FY 2019		FY 2020		FY 2021	
NET ASSESSMENTS		$1,259,017		$1,218,686		$1,218,686		$1,218,686		$1,445,344	
PLUS COLLECTION FEES (7%)		$94,765		$91,729		$91,729		$91,729		$108,789	
GROSS ASSESSMENTS		$1,353,782		$1,310,416		$1,310,416		$1,310,416		$1,554,133	
NO. OF TOTAL PLANNED UNITS		703		680		680		680		680	
GOLF COURSE		15		15		15		15		0	
GROSS PER UNIT ASSESSMENT		$1,885		$1,885		$1,885		$1,885		$2,285	

LAKE ASHTON II COMMUNITY DEVELOPMENT DISTRICT
GENERAL FUND BUDGET
FISCAL YEAR 2021

REVENUES:
Special Assessments - Tax Collector:
The District will levy a non ad-valorem special assessment on the platted property within	#36300 $1,445,344
the District and certify to the Polk County Tax Collector for collection to fund operating expenditures of the District.

Interest Earned

The District will have all excess funds invested with the State Board of Administration. The amount	#36100	$1,500
is based upon the estimated average balance of funds available during the fiscal year.

Rental Fees
Represents miscellaneous income received for activities held at the HCF.	#36200	$5,200

EXPENDITURES:
Arbitrage

The District is required to annually have an arbitrage rebate calculation on the District's Series 2005A&B	#31200	$1,200
and Series 2006A&B Capital Improvement Revenue Bonds.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified	#32200	$4,900
Public Accounting Firm.

Computer Time

The District processes all of its financial activities, i.e., accounts payable, financial statements, etc.	#35100	$1,000
on a mainframe computer leased by Governmental Management Services.

Dissemination Agent
The District is required by the Security and Exchange Commission to comply with Rule 15(c) (2)-12(b) (5),	#31300	$6,500
which relates to additional reporting requirements for un-rated bond issues.

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175.	#54000	$175
This is the only expense under this category for the District.

Insurance

The District's General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance.	#45000	$11,182
Florida Insurance Alliance specializes in providing insurance coverage to governmental agencies.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc.	#48000	$1,500
in a newspaper of general circulation.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management	#34000	$60,000
Agreement with Governmental Management Services. These services are further outlined in Exhibit "A" of the Management Agreement.

Office Supplies
Miscellaneous office supplies.	#51000	$250

Other Current Charges
Bank charges and any other miscellaneous expenses that are incurred during the year.	#49000	$2,700

Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.	#42000	$2,000

Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks,	#42500	$1,000
stationary, envelopes etc.

Telephone
Telephone and fax machine.	#41000	$50

Trustee Fees

The District issued Series 2005A&B and Series 2006A&B Capital Improvement Revenue Bonds	#32300	$13,963
which are held with a Trustee at US Bank. The amount of the trustee fees is based on the agreement between US Bank and the District.

LAKE ASHTON II
COMMUNITY DEVELOPMENT DISTRICT
GENERAL FUND BUDGET FISCAL YEAR 2021

Attorney

General  legal services, i.e., preparation for and attendance at meetings,	#31500	$40,000 review operating and maintenance contracts. etc.

Building Contract Services
Hartline Alarm /Fire Systems	#34510	$7,200	
Cleaning - JanKing	#46010	$28,320	
Pool & Spa - Pool Sure	#46400	$8,400	

Building/Grounds Maintenance Supplies
Building - Paper goods, small repairs, chemicals/ cleaning supplies,
Small plant replacement, pool-sauna-spa parts/repairs	#46020	$30,363	
Grounds - HFC grounds, Dog Parks, Blvd, Courts	#46030	$7,897	
Florida Pest	#34800	$1,340	
Mileage	#46050	$400	

Engineering
General engineering  services, i.e. attendance at and preparation for, board meetings.	#31100	$15,000

HFC Special Events

Pond and Lake Maintenance - Applied Aquatics	#46500	$35,560	
Mowing, irrigation management - Yellowstone	#46200	$179,604	
Irrigation Repairs	#46210	$2,000	
Office Supplies/Printing/Binding
Skedda, Google Suite, Amazon Prime, Sam's Club	
#51000	
$1,204	
DEX - copier lease and printing costs.	#51000	$5,976	

The District will have shows , dances and other events  throughout the year.	#49400	$5,000 Landscape/Lake Maintenance Contracts

Permits/Inspections
The District is required to renew permits and other inspections on an annual basis with	#49300	$1,500 the City of Winter Haven, Polk County and The State of Florida to comply with regulations.

Personnel Expenses
1099/Contract Employees	#34100	$19,340	
FICA - Employers share of Social Security and Medicare w/h from employee wages.	#21000	$15,972	
Health Insurance - Reimbursement to employees.	#23000	$10,622	
The Districts Workers Comp insurance is with SUMMIT.	#45000	$4,000	
Salaries & Wages - The District employees personnel to manage and supervise the HFC.	#12000	$196,016	

Property Insurance
The District's property insurance is with Florida Insurance Alliance (FIA). FIA specializes	#45001	$21,854 in providing insurance coverage to governmental agencies.

Security Contract Services
Gate Attendants and Roving Patrols - Securitas	#34500	$196,170	
Security Extras - carts, paper copies, etc.	#34530	$4,000	

Utilities
Electricity - TECO	#43000	$140,730	
Propane - Amerigas	#43100	$30,958	
Refuse - Florida Refuse	#34900	$2,228	
Telephone/Internet - Spectrum	#41000	$11,928	
Water - City of Winter Haven	#43200	$23,487	

	Lake Ashton II
Community Development District								
Capital Projects	
		Adopted		Actual		Projected		Total	Adopted	
		Budget		Thru		Next		Projected	Budget	
	 Description		 	FY 2020			 	7/31/20			 	2 Months			 	9/30/20		 	FY 2021		
	Revenues									
(1)	Capital Reserve - Transfer In	$79,398		$0		$0		$0	$192,139	
	Interest Income	$1,000		$4,089		$246		$4,335	$1,000	
	Carry Forward Surplus	$465,342		$461,220		$0		$461,220	$350,165	
	    TOTAL  REVENUES		 	$545,740 		 	$465,309 		 	$246 		 	$465,555 	 	$543,304 	
	Expenditures									
	Capital Projects - FY20									
	Athletic Equipment	$10,000		$1,304		$0		$1,304	$18,500	
	Fitness Floor	$0		$0		$0		$0	$15,000	
	Ice Machine	$0		$0		$0		$0	$10,000	
	Landscape Replacement	$15,000		$0		$0		$0	$15,000	
	Pool Plaster	$40,000		$41,479		$0		$41,479	$0	
	Pool/Spa Repairs	$0		$3,754		$0		$3,754	$5,000	
	Public Works-Bridges/Pathways (Roadways)	$25,000		$22,354		$0		$22,354	$32,000	
	Racquetball Floor	$0		$0		$0		$0	$14,500	
	Sidewalk to New Parking Lot	$0		$11,671		$0		$11,671	$0	
	Signs	$0		$0		$0		$0	$0	
	Split System (Air Handler)	$25,000		$0		$0		$0	$120,000	
	Sports Floor	$0		$0		$0		$0	$14,500	
	Water Heater	$0		$0		$0		$0	$2,000	
	Workshop	$10,000		$0		$0		$0	$0	
	Other Capital Project Expenses	$10,000		$7,245		$0		$7,245	$30,000	
	Promissory Note Payment	$0		$0		$0		$0	$147,877	
	Other Current Charges - Bank Charges	$0		$486		$97		$584	$600	
	    TOTAL  EXPENDITURES		 	$135,000 		 	$88,293 		 	$97 		 	$88,390 	 	$424,977 	
	Other Sources/(Uses)									
	Interfund Transfers In/(Out)	$0		($27,000)		$0		($27,000)	$0	
	Intergovernmental Transfer from LA1	$0		$0		$0		$0	$115,000	
	    TOTAL OTHER		 	$0 		 	($27,000) 		 	$0 		 	($27,000) 	 	$115,000 	
	    EXCESS REVENUES		$410,740		$350,016		$149		$350,165	$233,327	

$0
$6,467
$33,414	
$252,525	

$32,000
$0
$15,000
$10,000
$10,000
$131,517

$0
$0
$7,500
$0
$0
$0
$0	
$174,017	
$78,508	

Revenues		CAPITAL PR
Fiscal Year 2021	OJE	CT FUTURE PROJE
Fiscal Year 2022	CTIONS
Fiscal Year 2023		
Fiscal Year 2024		
Fiscal Year 2025	
Capital Reserves - Transfer In		$192,139		$192,139		$212,644		$212,644		$212,644	
Intergovernmental Transfer from LA1		$115,000		$0		$0		$0			
Interest Income		$1,000		$5,395		$5,748		$6,106			
Carry Forward Surplus		$350,165		$265,927		$155,094		$0			
Total		 	$658,304 		 	$463,461 		 	$373,487 		 	$218,750 			
Annual Projected Expenses:											
Roadways		$32,000		$32,000		$32,000		$32,000			
Public Works-Bridges/Pathways		$0		$102,570		$198,820		$0			
Landscape Replacement		$15,000		$15,000		$15,000		$15,000			
Athletic Equipment		$18,500		$10,000		$10,000		$10,000			
Other Capital Projects		$30,000		$10,000		$10,000		$10,000			
Golf Course Payment		$147,877		$142,997		$139,167		$135,336			
Specific Projects:											
Fitness Floor		$15,000		$0		$0		$0			
Split System (Air Handler)		$120,000		$0		$0		$0			
Kitcehn Equipment		$10,000		$27,800		$500		$15,000			
Pool/Spa Repairs		$5,000		$0		$0		$0			
Racquetball Floor		$14,500		$0		$0		$0			
Sports Floor		$14,500		$0		$0		$0			
Water Heater		$2,000		$0		$0		$0			
Total Expenditures		 	$392,377 		 	$308,367 		 	$373,487 		 	$185,336 			
Excess Revenues		 	$265,927 		$155,094		$0		$33,414			

Lake Ashton II
Community Development District	Debt Service Fund
Series 2005A

	Adopted
Budget		Actual
Thru		Projected
Next	Total
Projected		Adopted
Budget	
 Description		 	FY 2020			 	7/31/20			 	2 Months		 	9/30/20			 	FY 2021		
Revenues									
(1)	Assessments - On Roll (A)	$394,800		$394,064		$0	$394,064		$394,800	
Assessments - Off Roll	$31,497		$5,363		$0	$5,363		$0	
Prepayments	$0		$454,315		$0	$454,315		$0	
Interest Income	$1,000		$5,363		$10	$5,373		$6,000	
(2)	Carry Forward Surplus	$176,224		$187,632		$0	$187,632		$159,026	
    TOTAL  REVENUES		 	$603,521 		 	$1,046,736 		 	$10 	 	$1,046,746 		 	$559,826 	
Expenditures
Series 2005A									
Interest - 11/1	$126,581		$126,313		$0	$126,313		$109,381	
Special Call - 11/1	$10,000		$55,000		$0	$55,000		$35,000	
Interest - 5/1	$126,581		$124,834		$0	$124,834		$109,381	
Principal - 5/1	$175,000		$170,000		$0	$170,000		$165,000	
Special Call - 5/1	$0		$405,000		$0	$405,000		$0	
    TOTAL  EXPENDITURES		 	$438,163 		 	$881,147 		 	$0 	 	$881,147 		 	$418,763 	
Other Sources/(Uses)									
Interfund Transfers In/(Out)	$0		($6,573)		$0	($6,573)		$0	
    TOTAL OTHER		 	$0 		 	($6,573) 		 	$0 	 	($6,573) 		 	$0 	
    EXCESS REVENUES		$165,358		$159,016		$10	$159,026		$141,064	
									
(1)	Maximum Annual Debt Service						11/1/2021 Interest		 	$104,947 	
(2)	Carry forward surplus is net of the reserve	requirement and Deferred Costs					2005 A			
			FY 2018		FY 2019	FY 2020		FY 2021	
	NET ASSESSMENTS		$436,871.99		$436,871.99	$426,296.73		$394,799.73	
	PLUS COLLECTION FEES (7%)		$32,882.84		$32,882.84	$29,716.11		$29,716.11	
	GROSS ASSESSMENTS		$469,754.83		$469,754.83	$424,515.84		$424,515.84	
	NO. OF UNITS		345		345	336		336	
	GOLF COURSE		$33,868		$33,868	$31,497		$0	
	GROSS PER UNIT ASSESSMENT		$1,263.44		$1,263.44	$1,263.44		$1,263.44	

Lake Ashton II	Amortization Schedule
Community Development District	Series 2005A,  Capital Improvement Revenue Bonds

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	

11/01/05	
$	7,705,000.00	
5.38%	
$	-	
$	103,535.94	
$	103,535.94	
05/01/06	$	7,705,000.00	5.38%	$	-	$	207,071.88	$	-	
11/01/06	$	7,705,000.00	5.38%	$	-	$	207,071.88	$	414,143.75	
05/01/07	$	7,705,000.00	5.38%	$	105,000.00	$	207,071.88	$	-	
11/01/07	$	7,600,000.00	5.38%	$	50,000.00	$	204,250.00	$	566,321.88	
(1)5/1/2008	$	7,550,000.00	5.38%	$	130,000.00	$	202,906.25	$	-	
11/01/08	$	7,420,000.00	5.38%	$	165,000.00	$	199,412.50	$	697,318.75	
05/01/09	$	7,255,000.00	5.38%	$	115,000.00	$	194,978.13	$	-	
11/01/09	$	7,140,000.00	5.38%	$	70,000.00	$	191,887.50	$	571,865.63	
05/01/10	$	7,070,000.00	5.38%	$	140,000.00	$	190,006.25	$	-	
11/01/10	$	6,930,000.00	5.38%	$	115,000.00	$	186,243.75	$	631,250.00	
05/01/11	$	6,815,000.00	5.38%	$	125,000.00	$	183,153.13	$	-	
11/01/11	$	6,690,000.00	5.38%	$	-	$	179,793.75	$	487,946.88	
05/01/12	$	6,690,000.00	5.38%	$	-	$	179,793.75	$	-	
11/01/12	$	6,690,000.00	5.38%	$	-	$	179,793.75	$	359,587.50	
05/01/13	$	6,690,000.00	5.38%	$	-	$	179,793.75	$	-	
11/01/13	$	6,690,000.00	5.38%	$	705,000.00	$	179,793.75	$	1,064,587.50	
05/01/14	$	5,985,000.00	5.38%	$	145,000.00	$	160,846.88	$	-	
11/01/14	$	5,840,000.00	5.38%	$	75,000.00	$	156,950.00	$	537,796.88	
05/01/15	$	5,765,000.00	5.38%	$	175,000.00	$	154,934.38	$	-	
11/01/15	$	5,590,000.00	5.38%	$	60,000.00	$	150,231.25	$	210,231.25	
05/01/16	$	5,530,000.00	5.38%	$	145,000.00	$	148,618.75	$	-	
11/01/16	$	5,385,000.00	5.38%	$	45,000.00	$	144,721.88	$	483,340.63	
05/01/17	$	5,340,000.00	5.38%	$	155,000.00	$	143,512.50	$	-	
11/01/17	$	5,185,000.00	5.38%	$	80,000.00	$	139,346.88	$	219,346.88	
05/01/18	$	5,105,000.00	5.38%	$	205,000.00	$	137,196.88	$	-	
11/01/18	$	4,900,000.00	5.38%	$	25,000.00	$	131,687.50	$	498,884.38	
05/01/19	$	4,875,000.00	5.38%	$	175,000.00	$	131,015.63	$	-	
11/01/19	$	4,700,000.00	5.38%	$	55,000.00	$	126,312.50	$	487,328.13	
05/01/20	$	4,645,000.00	5.38%	$	575,000.00	$	124,834.38	$	-	
11/01/20	$	4,070,000.00	5.38%	$	-	$	109,381.25	$	809,215.63	
05/01/21	$	4,070,000.00	5.38%	$	165,000.00	$	109,381.25	$	-	
11/01/21	$	3,905,000.00	5.38%	$	-	$	104,946.88	$	379,328.13	
05/01/22	$	3,905,000.00	5.38%	$	175,000.00	$	104,946.88	$	-	
11/01/22	$	3,730,000.00	5.38%	$	-	$	100,243.75	$	380,190.63	
05/01/23	$	3,730,000.00	5.38%	$	185,000.00	$	100,243.75	$	-	
11/01/23	$	3,545,000.00	5.38%	$	-	$	95,271.88	$	380,515.63	
05/01/24	$	3,545,000.00	5.38%	$	195,000.00	$	95,271.88	$	-	
11/01/24	$	3,350,000.00	5.38%	$	-	$	90,031.25	$	380,303.13	
05/01/25	$	3,350,000.00	5.38%	$	205,000.00	$	90,031.25	$	-	
11/01/25	$	3,145,000.00	5.38%	$	-	$	84,521.88	$	379,553.13	
05/01/26	$	3,145,000.00	5.38%	$	215,000.00	$	84,521.88	$	-	
11/01/26	$	2,930,000.00	5.38%	$	-	$	78,743.75	$	378,265.63	
05/01/27	$	2,930,000.00	5.38%	$	230,000.00	$	78,743.75	$	-	
11/01/27	$	2,700,000.00	5.38%	$	-	$	72,562.50	$	381,306.25	
05/01/28	$	2,700,000.00	5.38%	$	240,000.00	$	72,562.50	$	-	
11/01/28	$	2,460,000.00	5.38%	$	-	$	66,112.50	$	378,675.00	
05/01/29	$	2,460,000.00	5.38%	$	255,000.00	$	66,112.50	$	-	
11/01/29	$	2,205,000.00	5.38%	$	-	$	59,259.38	$	380,371.88	
05/01/30	$	2,205,000.00	5.38%	$	265,000.00	$	59,259.38	$	-	
11/01/30	$	1,940,000.00	5.38%	$	-	$	52,137.50	$	376,396.88	
05/01/31	$	1,940,000.00	5.38%	$	280,000.00	$	52,137.50	$	-	
11/01/31	$	1,660,000.00	5.38%	$	-	$	44,612.50	$	376,750.00	
05/01/32	$	1,660,000.00	5.38%	$	295,000.00	$	44,612.50	$	-	
11/01/32	$	1,365,000.00	5.38%	$	-	$	36,684.38	$	376,296.88	
05/01/33	$	1,365,000.00	5.38%	$	315,000.00	$	36,684.38	$	-	
11/01/33	$	1,050,000.00	5.38%	$	-	$	28,218.75	$	379,903.13	
05/01/34	$	1,050,000.00	5.38%	$	330,000.00	$	28,218.75	$	-	
11/01/34	$	720,000.00	5.38%	$	-	$	19,350.00	$	377,568.75	
05/01/35	$	720,000.00	5.38%	$	350,000.00	$	19,350.00	$	-	
11/01/35	$	370,000.00	5.38%	$	-	$	9,943.75	$	379,293.75	
05/01/36	$	370,000.00	5.38%	$	370,000.00	$	9,943.75	$	379,943.75	

 	TOTAL	

  $	4,645,000.00 

  $	2,228,878.13 

  $	6,873,878.13 

Lake Ashton II
Community Development District	Debt Service Fund
Series 2006A

	Adopted
Budget		Actual
Thru		Projected
Next	Total
Projected		Adopted
Budget	
 Description			 	FY 2020			 	7/31/20			 	2 Months		 	9/30/20			 	FY 2021		
Revenues
Prepayments		
$0		
$0		
$0	
$0		
$0	
Special Assessments		$310,388		$311,429		$0	$311,429		$310,388	
Interest Earned		$0		$1,712		$10	$1,722		$0	
Carry Forward Surplus		$137,677		$136,973		$0	$136,973		$104,687	
    TOTAL REVENUES			 	$448,065 		 	$450,114 		 	$10 	 	$450,124 		 	$415,074 	
Expenditures										
Interest - 11/1		$98,183		$98,183		$0	$98,183		$94,208	
Interest - 5/1		$98,183		$97,255		$0	$97,255		$94,208	
Principal - 5/1		$115,000		$115,000		$0	$115,000		$120,000	
Special Call - 11/1		$15,000		$35,000		$0	$35,000		$0	
    TOTAL  EXPENDITURES			 	$326,365 		 	$345,438 		 	$0 	 	$345,438 		 	$308,415 	
Other Sources/(Uses)										
Interfund Transfer In/(Out)		$0		($7,390)		$0	($7,390)		$0	
    TOTAL OTHER			 	$0 		 	($7,390) 		 	$0 	 	($7,390) 		 	$0 	
    EXCESS REVENUES			$121,700		$104,677		$10	$104,687		$106,659	
							11/1/2021 Interest		$	91,027.50	

	FY 2020	
NET ASSESSMENTS	$310,387.50	
PLUS COLLECTION FEES (7%)	$23,362.50	
GROSS ASSESSMENTS	$333,750.00	
NO. OF UNITS	267	
GROSS PER UNIT ASSESSMENT	$1,250.00	

Lake Ashton II	Amortization Schedule
Community Development District			Series 2006A, Capital Improvement Revenue Bonds DATE	BALANCE	RATE	PRINCIPAL		INTEREST	TOTAL

06/15/17
11/01/17
05/01/18
11/01/18
05/01/19
11/01/19
05/01/20
11/01/20
05/01/21
11/01/21
05/01/22
11/01/22
05/01/23
11/01/23
05/01/24
11/01/24
05/01/25
11/01/25
05/01/26
11/01/26
05/01/27
11/01/27
05/01/28
11/01/28
05/01/29
11/01/29
05/01/30
11/01/30
05/01/31
11/01/31

$	3,970,000.00
$	3,970,000.00
$	3,970,000.00
$	3,855,000.00
$	3,830,000.00
$	3,705,000.00
$	3,670,000.00
$	3,555,000.00
$	3,555,000.00
$	3,435,000.00
$	3,435,000.00
$	3,305,000.00
$	3,305,000.00
$	3,170,000.00
$	3,170,000.00
$	3,030,000.00
$	3,030,000.00
$	2,880,000.00
$	2,880,000.00
$	2,720,000.00
$	2,720,000.00
$	2,555,000.00
$	2,555,000.00
$	2,380,000.00
$	2,380,000.00
$	2,195,000.00
$	2,195,000.00
$	2,000,000.00
$	2,000,000.00
$	1,795,000.00

5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%
5.30%

$	-	$
$	-	$
$	115,000.00	$
$	25,000.00	$
$	125,000.00	$
$	35,000.00	$
$	115,000.00	$
$	-	$
$	120,000.00	$
$	-	$
$	130,000.00	$
$	-	$
$	135,000.00	$
$	-	$
$	140,000.00	$
$	-	$
$	150,000.00	$
$	-	$
$	160,000.00	$
$	-	$
$	165,000.00	$
$	-	$
$	175,000.00	$
$	-	$
$	185,000.00	$
$	-	$
$	195,000.00	$
$	-	$
$	205,000.00	$
$	-	$

-
79,288.00	$
105,205.00
102,157.50	$
101,495.00
98,182.50	$
97,255.00
94,207.50	$
94,207.50
91,027.50	$
91,027.50
87,582.50	$
87,582.50
84,005.00	$
84,005.00
80,295.00	$
80,295.00
76,320.00	$
76,320.00
72,080.00	$
72,080.00
67,707.50	$
67,707.50
63,070.00	$
63,070.00
58,167.50	$
58,167.50
53,000.00	$
53,000.00
47,567.50	$

79,288.00

322,362.50

324,677.50

306,462.50

305,235.00

308,610.00

306,587.50

304,300.00

306,615.00

308,400.00

304,787.50

305,777.50

306,237.50

306,167.50

305,567.50

05/01/32	$	1,795,000.00	5.30%	$	215,000.00	$	47,567.50		
11/01/32	$	1,580,000.00	5.30%	$	-	$	41,870.00	$	304,437.50	
05/01/33	$	1,580,000.00	5.30%	$	230,000.00	$	41,870.00		
11/01/33	$	1,350,000.00	5.30%	$	-	$	35,775.00	$	307,645.00	
05/01/34	$	1,350,000.00	5.30%	$	240,000.00	$	35,775.00		
11/01/34	$	1,110,000.00	5.30%	$	-	$	29,415.00	$	305,190.00	
05/01/35	$	1,110,000.00	5.30%	$	255,000.00	$	29,415.00		
11/01/35	$	855,000.00	5.30%	$	-	$	22,657.50	$	307,072.50	
05/01/36	$	855,000.00	5.30%	$	270,000.00	$	22,657.50		
11/01/36	$	585,000.00	5.30%	$	-	$	15,502.50	$	308,160.00	
05/01/37	$	585,000.00	5.30%	$	285,000.00	$	15,502.50		
11/01/37	$	300,000.00	5.30%	$	-	$	7,950.00	$	308,452.50	
05/01/38	$	300,000.00	5.30%	$	300,000.00	$	7,950.00	$	307,950.00	

 	TOTAL	

  $	3,670,000.00 

  $	2,153,655.00 

  $	5,823,655.00 

Page 9

CLUB SUMMARY

YEAR		
ROUNDS OF GOLF	3,962	3,877	4,260	4,303	3,238	3,451	3,025	3,067	2,513	3,365	4,345	3,195	42,600	
		1	2	3	4	5	6	7	8	9	10	11	12		
		Oct-2020	Nov-2020	Dec-2020	Jan-2021	Feb-2021	Mar-2021	Apr-2021	May-2021	Jun-2021	Jul-2021	Aug-2021	Sep-2021	TOTAL	
REVENUES
Greens Fees		
$	3,911	
$	5,049	
$	3,713	
$	4,604	
$	4,505	
$	4,950	
$	5,000	
$	3,762	
$	4,010	
$	3,515	
$	3,564	
$	2,921	
$	49,500	
Pro Shop Sales		$	10,365	$	13,383	$	9,841	$	12,202	$	11,940	$	13,121	$	13,252	$	9,972	$	10,628	$	9,316	$	9,447	$	7,741	$	131,208	
Food & N/A Beverage		$	12,479	$	16,112	$	11,847	$	12,005	$	12,795	$	11,215	$	11,373	$	9,320	$	12,795	$	11,215	$	11,373	$	9,320	$	141,849	
Beverage - Alcohol		$	10,904	$	14,078	$	10,352	$	10,490	$	11,180	$	9,800	$	9,938	$	8,143	$	11,180	$	9,800	$	9,938	$	8,143	$	123,946	
Dues Income - Monthly Dues		$	120,358	$	120,358	$	120,358	$	120,358	$	120,358	$	120,358	$	120,358	$	120,358	$	120,358	$	120,358	$	120,358	$	120,358	$	1,444,300	
Miscellaneous Income		$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
TOTAL REVENUE	$	158,017	$	168,981	$	156,110	$	159,659	$	160,778	$	159,444	$	159,921	$	151,555	$	158,970	$	154,204	$	154,680	$	148,483	$	1,890,802	
COST OF SALES
COGS - Pro Shop Merch.	$	8,292	
$	10,707	
$	7,872	
$	9,762	
$	9,552	
$	10,497	
$	10,602	
$	7,977	
$	8,502	
$	7,453	
$	7,558	
$	6,193	
$	104,966	
COGS - Food	$	5,616	$	7,250	$	5,331	$	5,402	$	5,758	$	5,047	$	5,118	$	4,194	$	5,758	$	5,047	$	5,118	$	4,194	$	63,832	
COGS - Alcohol	$	3,816	$	4,927	$	3,623	$	3,671	$	3,913	$	3,430	$	3,478	$	2,850	$	3,913	$	3,430	$	3,478	$	2,850	$	43,381	
TOTAL COST OF SALES	$	17,724	$	22,884	$	16,827	$	18,836	$	19,223	$	18,973	$	19,198	$	15,022	$	18,173	$	15,929	$	16,154	$	13,237	$	212,179	

GROSS INCOME

$	140,293 $

146,097 $

139,284 $

140,823 $

141,555 $

140,471 $

140,723 $

136,534 $

140,798 $

138,274 $

138,526 $

135,246 $

1,678,623

LABOR
Golf Operations Labor	
$	6,604	
$	9,609	
$	9,929	
$	9,929	
$	8,968	
$	9,929	
$	8,371	
$	6,391	
$	6,391	
$	6,604	
$	6,604	
$	6,391	
$	95,720	
General and Administrative Labor	$	6,667	$	6,667	$	6,667	$	6,667	$	6,667	$	6,667	$	6,667	$	6,667	$	6,667	$	6,667	$	6,667	$	6,667	$	80,000	
Golf Course Maintenance Labor	$	35,526	$	34,243	$	35,526	$	35,457	$	32,293	$	35,457	$	34,448	$	35,526	$	34,380	$	35,526	$	34,431	$	32,328	$	415,139	
Food and Beverage Labor	$	8,817	$	8,667	$	8,817	$	8,817	$	8,367	$	8,817	$	8,667	$	8,817	$	8,667	$	8,817	$	8,817	$	8,667	$	104,750	
Sales and Marketing Labor	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Total Direct Labor	$	57,613	$	59,185	$	60,938	$	60,869	$	56,294	$	60,869	$	58,152	$	57,400	$	56,104	$	57,613	$	56,519	$	54,052	$	695,609	
Total Payroll Taxes	$	5,625	$	5,674	$	7,432	$	5,974	$	5,396	$	5,974	$	5,652	$	5,625	$	5,444	$	5,625	$	5,625	$	5,444	$	69,491	
Total Medical/Health Benefits	$	5,734	$	5,734	$	5,734	$	5,734	$	5,734	$	5,734	$	5,734	$	5,734	$	5,734	$	5,734	$	5,734	$	5,734	$	68,808	
Insurance - Workers Comp	$	1,446	$	1,454	$	1,876	$	1,529	$	1,381	$	1,529	$	1,448	$	1,446	$	1,399	$	1,446	$	1,446	$	1,399	$	17,796	
Total Labor Burden	$	12,805	$	12,862	$	15,041	$	13,237	$	12,511	$	13,237	$	12,834	$	12,805	$	12,577	$	12,805	$	12,805	$	12,577	$	156,095	
TOTAL LABOR EXPENSE	$	70,418	$	72,046	$	75,979	$	74,106	$	68,805	$	74,106	$	70,986	$	70,205	$	68,681	$	70,418	$	69,324	$	66,629	$	851,704	
45%	43%	49%	46%	43%	46%	44%	46%	43%	46%	45%	45%	45%	
OTHER OPERATIONAL EXPENSES
Golf Operations Expense	$	1,214	
$	1,279	
$	1,214	
$	3,374	
$	4,208	
$	1,332	
$	4,048	
$	1,265	
$	1,209	
$	2,265	
$	1,192	
$	3,257	
$	25,856	
General & Administrative Expense	$	19,383	$	18,886	$	21,375	$	20,166	$	18,400	$	21,361	$	19,914	$	21,482	$	21,832	$	19,127	$	19,713	$	20,034	$	241,674	
Golf Course Maintenance Expense	$	42,128	$	16,718	$	14,128	$	20,538	$	19,698	$	50,598	$	20,878	$	84,894	$	24,654	$	32,944	$	25,154	$	29,084	$	381,416	
Food and Beverage Expense	$	2,835	$	2,885	$	2,835	$	2,885	$	2,835	$	2,885	$	2,835	$	2,885	$	2,835	$	3,258	$	3,435	$	2,885	$	35,293	
Sales and Marketing Expense	$	2,060	$	560	$	560	$	2,300	$	560	$	560	$	2,060	$	460	$	460	$	1,960	$	460	$	560	$	12,560	
Taxes - Real Estate	$	5,583	$	5,583	$	5,583	$	5,583	$	5,583	$	5,583	$	5,583	$	5,583	$	5,583	$	5,583	$	5,583	$	5,583	$	67,000	
Taxes - Personal Property	$	500	$	500	$	500	$	500	$	500	$	500	$	500	$	500	$	500	$	500	$	500	$	500	$	6,000	
Insurance P&C	$	4,000	$	4,000	$	-	$	13,000	$	4,000	$	4,000	$	4,000	$	4,000	$	4,000	$	4,000	$	4,000	$	4,000	$	53,000	
TOTAL OTHER OPERATIONAL EXPENSES	$	77,703	$	50,412	$	46,196	$	68,346	$	55,784	$	86,819	$	59,818	$	121,070	$	61,073	$	69,637	$	60,037	$	65,903	$	822,798	
	-------------	-------------	-------------	-------------	-------------	-------------	-------------	-------------	-------------	-------------	-------------	-------------	--------------	
TOTAL EXPENSES	$	148,121	$	122,458	$	122,175	$	142,452	$	124,589	$	160,926	$	130,805	$	191,275	$	129,754	$	140,055	$	129,361	$	132,532	$	1,674,502	

EBITDAR / OPERATING INCOME $

(7,828) $

23,639 $

17,109 $

(1,629) $

16,966 $

(20,455) $

9,918 $

(54,741) $

11,044 $

(1,781) $

9,165 $

2,714 $

4,121