CORDOBA RANCH
Community Development District

Annual Operating and Debt Service Budget
Fiscal Year 2020

Approved Tentative Budget
05.28.19

Prepared by:

CORDOBA RANCH
Community Development District

Table of Contents

Page #

OPERATING BUDGET

General Fund
Summary of Revenues, Expenditures and Changes in Fund Balances	1-2
Exhibit A - Allocation of Fund Balances ………………………………………………………………….	3
Budget Narrative	4-7
DEBT SERVICE BUDGETS
Series 2006
Summary of Revenues, Expenditures and Changes in Fund Balances ……………………………..	8
Amortization Schedule ……………………………………………………………………………………..	9
Budget Narrat…ive 	10
SUPPORTING BUDGET SCHEDULES
2019-2020 Non-Ad Valorem Assessment Summary	11

Cordoba Ranch
Community Development District

Operating Budget
Fiscal Year 2020

CORDOBA RANCH
Community Development District	General Fund

Summary of Revenues, Expenditures and Changes in Fund Balances
FY 2020 Approved Tentative Budget

	ADOPTED	ACTUAL	PROJECTED	TOTAL	ANNUAL	
	ACTUAL	ACTUAL	ACTUAL	BUDGET	THRU	MAY-	PROJECTED	BUDGET	
ACCOUNT DESCRIPTION	FY 2016	FY 2017	FY 2018	FY 2019	APR-2019	SEP-2019	FY 2019	FY 2020	

REVENUES

Interest - Investments	$	269	$	12	$	2,829	$	-	$	3,821	$	-	$	3,821	$	2,500	
Interest - Tax Collector	-	63	341	-	181	-	181	-	
Special Assmnts- Tax Collector	291,575	323,377	357,624	357,623	352,921	4,703	357,624	357,623	
Special Assmnts- CDD Collected	128,587	119,389	135,126	135,125	135,125	1	135,126	135,125	
Special Assmnts- Discounts	-	(13,801)	(13,863)	(14,305)	(13,469)	-	(13,469)	(14,305)	
Gate Bar Code/Remotes	-	947	1,265	-	360	-	360		
TOTAL REVENUES	420,992	434,666	483,322	478,443	478,939	4,703	483,642	480,943	

EXPENDITURES
Administrative

P/R-Board of Supervisors		1,800	1,400	2,400	600	1,800	2,400	2,400	
ProfServ-Arbitrage Rebate	2,300	-	-	500	-	500	500	500	
ProfServ-Dissemination Agent	5,000	-	5,000	5,000	5,000	-	5,000	5,000	
ProfServ-Engineering	8,488	7,360	4,143	7,500	3,250	4,250	7,500	7,500	
ProfServ-Legal Services	10,244	6,676	5,744	7,000	1,495	5,505	7,000	7,000	
ProfServ-Mgmt Consulting Serv	20,721	23,500	45,320	46,500	27,125	19,375	46,500	46,500	
ProfServ-Special Assessment	5,000	5,000	-	-	-	-	-	-	
ProfServ-Trustee Fees	3,203	2,424	4,041	3,500	2,424	-	2,424	3,500	
Accounting Services	11,500	15,500	-	-	-	-	-	-	
Auditing Services	3,300	3,423	3,500	3,500	-	3,500	3,500	3,500	
Postage and Freight	-	1,104	942	1,000	335	665	1,000	1,000	
Public Officials Insurance	1,850	1,405	2,035	2,239	-	2,239	2,239	2,463	
Printing and Binding	-	965	736	600	347	253	600	600	
Legal Advertising	976	3,101	1,006	3,500	988	2,512	3,500	3,500	
Misc-Assessmnt Collection Cost	-	4,693	1,774	7,152	6,789	363	7,152	7,152	
Misc-Web Hosting	770	835	750	900	525	375	900	900	
Annual District Filing Fee	175	200	200	175	175	-	175	175	
Total Administrative	86,627	77,986	76,591	91,466	49,053	41,337	90,390	91,690	

Other Public Safety

Contracts-Security Camera	1,375	1,490	2,530	2,500	1,458	1,041	2,499	2,500	
Contracts-Security Services	16,879	14,289	14,991	13,608	8,028	5,670	13,698	13,608	
Communication-Telephone	-	1,772	1,618	1,644	417	1,227	1,644	2,000	
R&M-Gate	335	-	290	600	-	-	-	4,800	
Total Other Public Safety	18,589	17,551	19,429	18,352	9,903	7,938	17,841	22,908	

Electric Utility Services									
Utility - General	7,820	6,380	7,591	7,800	4,784	3,000	7,784	7,800	
Electricity - Streetlighting	58,538	61,932	63,145	63,528	36,612	26,470	63,082	63,528	
Total Electric Utility Services	66,358	68,312	70,736	71,328	41,396	29,470	70,866	71,328	
Flood Control/Stormwater Mgmt									
Contracts-Aquatic Control	13,968	12,408	12,648	12,408	7,478	5,341	12,819	12,408	
R&M-Fountain	960	1,059	720	1,000	-	1,000	1,000	2,000	
R&M-Mitigation	15,455	9,350	11,680	11,460	5,950	4,250	10,200	11,460	
R&M Lake & Pond	9,750	3,600	5,494	6,675	2,528	1,806	4,334	10,000	
Impr - Aquatic Plants	840	5,132	-	5,000	-	5,000	5,000	5,000	
Total Flood Control/Stormwater Mgmt	40,973	31,549	30,542	36,543	15,956	17,397	33,353	40,868	

Annual Operating and Debt Service Budget
Fiscal Year 2020	1

CORDOBA RANCH
Community Development District	General Fund

Field

Summary of Revenues, Expenditures and Changes in Fund Balances
FY 2020 Approved Tentative Budget

	ADOPTED	ACTUAL	PROJECTED	TOTAL	ANNUAL	
	ACTUAL	ACTUAL	ACTUAL	BUDGET	THRU	MAY-	PROJECTED	BUDGET	
ACCOUNT DESCRIPTION	FY 2016	FY 2017	FY 2018	FY 2019	APR-2019	SEP-2019	FY 2019	FY 2020	

ProfServ-Field Management	4,000	-	-	-	-	-	-	-	
Contracts-Landscape	113,051	114,994	120,626	114,994	67,080	47,914	114,994	114,994	
Insurance - Property	1,434	1,434	1,488	1,735	-	1,735	1,735	1,909	
Insurance - General Liability	2,250	2,058	2,264	2,490	-	2,490	2,490	2,739	
R&M-Entry Feature	-	-	-	200	-	2,000	2,000	2,000	
R&M-Irrigation	2,566	8,806	1,543	9,000	4,950	3,536	8,486	9,000	
R&M-Pest Control	-	3,449	4,469	3,200	2,649	1,544	4,193	4,200	
R&M-Plant Replacement	20,722	9,774	8,681	15,000	-	7,500	7,500	15,000	
R&M-Well Maintenance	-	550	-	5,000	-	2,500	2,500	5,000	
R&M-Annuals	-	18,690	9,345	19,000	9,345	9,655	19,000	19,000	
R&M-Mulch	-	11,760	-	23,100	14,700	8,400	23,100	23,100	
Misc-Contingency	-	150	-	-	-	-	-	14,995	
Holiday Lighting & Decorations	-	2,200	2,500	2,500	2,500	-	2,500	2,500	
Op Supplies - Fertilizer	-	5,490	5,168	7,800	1,761	6,039	7,800	7,800	
Capital Reserves	-	-	-	-	-	-	-	24,940	
Total Field	144,023	179,475	156,084	204,019	102,985	93,313	196,298	247,177	
Road and Street Facilities
Utility - Gatehouse	1,600	
-	
-	
-	
-	
-	
-	
-	
Total Road and Street Facilities	1,600	-	-	-	-	-	-	-	
Parks and Recreation - General
ProfServ-Wildlife Management Service	14,695	
14,400	
17,135	
16,800	
10,170	
6,630	
16,800	
16,800	
Miscellaneous Services	4,365	27,479	4,205	14,995	3,681	2,629	6,310	7,500	
Total Parks and Recreation - General	19,060	41,879	21,340	31,795	13,851	9,259	23,110	24,300	
Reserves
Capital Reserves	-	
-	
-	
24,940	
-	
-	
-	
-	
Total Reserves	-	-	-	24,940	-	-	-	-	
TOTAL EXPENDITURES & RESERVES	377,230	416,752	374,722	478,443	233,144	198,715	431,859	498,271	
Excess (deficiency) of revenues
Over (under) expenditures	43,762	
17,914	
108,600	
-	
245,795	
(194,012)	
282,707	
(17,328)	
OTHER FINANCING SOURCES (USES)
Interfund Transfer - In	
-	
-	
-	
120,129	
-	
120,129	
-	
Contribution to (Use of) Fund Balance	-	-	-	-	-	-	-	(17,328)	
TOTAL OTHER SOURCES (USES)	-	-	-	-	120,129	-	120,129	(17,328)	
Net change in fund balance	43,762	17,914	108,600	-	365,924	(194,012)	402,836	(17,328)	
FUND BALANCE, BEGINNING	95,609	139,372	157,286	265,886	265,886	-	265,886	668,722	
FUND BALANCE, ENDING	$ 139,371	$ 157,286	$ 265,886	$ 265,886	$ 631,810	$ (194,012)	$	668,722	$	651,394	

Annual Operating and Debt Service Budget
Fiscal Year 2020	2

CORDOBA RANCH
Community Development District
Exhibit "A"
Allocation of Fund Balances

AVAILABLE FUNDS		
	Amount	
Beginning Fund Balance - Fiscal Year 2020	$	668,722	
Net Change in Fund Balance - Fiscal Year 2020	(17,328)	
Reserves - Fiscal Year 2020	24,940	
Total Funds Available (Estimated) - 9/30/2020	676,334	

ALLOCATION OF AVAILABLE FUNDS

Assigned Fund Balance		
Operating Reserve - First Quarter Operating Capital
Reserve Previous years	
70,129	124,568	
Capital Reserve FY 2019	24,940		
Capital Reserve FY 2020	24,940	120,009	
	
Subtotal	
244,577	
Total Allocation of Available Funds		244,577	

Total Unassigned (undesignated) Cash		
$	431,757	

(1)

Notes
(1) Represents approximately 3 months of operating expenditures

Annual Operating and Debt Service Budget
Fiscal Year 2020	3

CORDOBA RANCH

Community Development District	General Fund

Budget Narrative
Fiscal Year 2020

REVENUES

Interest-Investments
The District earns interest on the monthly average collected balance for their operating account.

Special Assessments-Tax Collector
The District will levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the Fiscal Year.

Special Assessments-Discounts
Per Section 197.162, Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount  for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments.

Other Miscellaneous Revenue
The District receives other miscellaneous revenue.

Gate Bar Code/Remotes
The District receives amounts for gate bar codes and gate remotes that operate the gates of the District.

EXPENDITURES

Administrative

P/R-Board of Supervisors
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting at which they are in attendance. The amount for the Fiscal Year is based upon all supervisors attending all of the meetings.

Professional Services - Arbitrage Rebate Calculation
The District has a proposal with a company who specializes to calculate the District's Arbitrage Rebate Liability on the Series of Benefit Special Assessment Bonds. The budgeted amount for the fiscal year is based on standard fees charged for this service.

Professional Services - Dissemination Agent
The District is required by the Securities and Exchange Commission to comply with Rule 15c2-12(b)-(5), which relates to additional reporting requirements for unrelated bond issues. The budgeted amount for the fiscal year is based on  standard fees charged for this service.

Professional Services-Engineering
The District's engineer provides general engineering services to the District, i.e. attendance and preparation for monthly board meetings when requested, review of invoices, and other specifically requested assignments.

Professional Services-Legal Services
The District’s Attorney provides general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research as directed or requested by the Board of Supervisors and the District Manager.

Annual Operating and Debt Service Budgets Fiscal Year 2020
4

CORDOBA RANCH

Community Development District	General Fund

Budget Narrative
Fiscal Year 2020

EXPENDITURES

Administrative (continued)

Professional Services-Management Consulting Services
The District receives Management, Field Services, Accounting, Assessment and Administrative services as part of a Management Agreement with Inframark - Infrastructure Management Services. Also included are costs for Information Technology charges to process all of the District’s financial activities, i.e. accounts payable, financial statements, budgets, etc., on a main frame computer owned by Inframark in accordance with the management contract and the charge for rentals.

Professional Services – Trustee Fees
The District issued this Series of 2013 Capital Improvement Revenue Bonds that are deposited with a Trustee to handle all trustee matters. The annual trustee fee is based on standard fees charged plus any out-of-pocket expenses.

Auditing Services
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on the engagement letter from Grau not to exceed $3,500.

Postage and Freight
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.

Public Official Insurance
The District's Public Officials Liability Insurance policy is with Florida Insurance Alliance Inc. They specialize in providing insurance coverage to governmental agencies. The budgeted amount allows for a projected increase in the premium.

Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.

Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.

Miscellaneous-Assessment Collection Costs
The District reimburses the Pasco County Tax Collector for her or his necessary administrative costs. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District also compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted, whichever is greater. The fiscal year budget for collection costs is based on a maximum of 2% of the anticipated Non-Ad Valorem assessment collections.

Miscellaneous-Web Hosting
The District is mandated to post on the internet the approved and adopted budgets, minutes and audits per State requirements.

Annual District Filing Fee
The District is required to pay an annual fee of $175 to the Department of Community Affairs.

Annual Operating and Debt Service Budgets Fiscal Year 2020
5

CORDOBA RANCH

Community Development District	General Fund

Budget Narrative
Fiscal Year 2020

EXPENDITURES
Other Public Safety Contracts- Security Camera
The District has a contract with Envera Systems Inc. for monitoring the security cameras and maintenance.

Contracts- Security Service
The District has a contract with Envera Systems Inc. for monitoring the security access and additional patrol by the Sheriff’s Office on an as needed basis.

Communication-Telephone
This is for the gate telephone usage by the District with Fronteir.

R&M-Gate
This includes the repairs and maintenance of the Districts Gate.
Electric Utility Services Utility-General
This is for the electric utility services for the irrigation timers, lift station pumps, fountains, etc.

Electricity-Streetlighting
This is for the electric for the streetlights.
Flood Control/ Stormwater Management Contracts-Aquatic Control
The District has a contract for the monthly care and maintenance of the lakes and ponds with Aquagenix for $1,034 per month.

R&M-Fountain
This is for the repairs and maintenance of the fountains throughout the Parks and Recreational areas.

R&M-Mitigation
This is for monitoring the water level and vegetation of the lakes and wetland of the District.

R&M-Lake & Pond
This is for any maintenance required for the lakes and Ponds of the District.

Impr - Aquatic Plants
This is for any improvement required for the aquatic plants of the District.

Field

Contracts-Landscape
The District currently has a contract with Vivicon for landscaping that includes general mowing, edging and maintenance with a monthly fee $9,582.84.

Annual Operating and Debt Service Budgets Fiscal Year 2020
6

CORDOBA RANCH

Community Development District	General Fund

Budget Narrative
Fiscal Year 2020

EXPENDITURES

Insurance – Property
This is for the property insurance for the items owned by the District.

Insurance – General Liability
This is for the general liability insurance for the items owned by the District.

R&M-Entry Feature
This is for the repairs and maintenance of the entry monuments and fencing.

R&M-Irrigation
This is for the repairs and maintenance of the irrigation system of the District.

R&M-Pest Control
This is for pest control and ant treatments in the District.

R&M-Plant Replacement
This is for the landscape replacement including turf, trees, shrubs, etc. around the District.

R&M-Well Maintenance
This is for well maintenance throughout the District.

R&M-Annuals
This is for the installation of the annual flowers around the District.

R&M-Mulch
This is for mulch installation throughout the District.

Miscellaneous-Contingency
This is for any miscellaneous fees or services that may arise around the District.

Holiday Lighting & Decorations
This is for the decorations that will be displayed around the District during the Holidays.

Op Supplies - Fertilizer
This includes fertilizer and miscellaneous supplies needed for the District.

Parks and Recreation

ProfServ-Wildlife Management Service
Hog removal services by Jerry Richardson for $1,400 per month.

Reserves

Capital Reserves
This is capital reserves for any expenses that may arise around the District.

Annual Operating and Debt Service Budgets Fiscal Year 2020
7

Cordoba Ranch
Community Development District

Debt Service Budget
Fiscal Year 2020

CORDOBA RANCH
Community Development District	Series 2006 Debt Service Fund

Summary of Revenues, Expenditures and Changes in Fund Balances
FY 2020 Approved Tentative Budget

	ADOPTED	ACTUAL	PROJECTED	TOTAL	ANNUAL	
	ACTUAL	ACTUAL	ACTUAL	BUDGET	THRU	MAY-	PROJECTED	BUDGET	
ACCOUNT DESCRIPTION	FY 2016	FY 2017	FY 2018	FY 2019	APR-2019	SEP-2019	FY 2019	FY 2020	

Interest - Investments	$	352	$	1,020	$	1,508	$	350	$	806	$	456	$	1,262	$	350	
Special Assmnts- Tax Collector	428,355	455,714	455,698	455,697	449,707	$	5,990	455,697	455,697	
Special Assmnts- CDD Collected	172,182	172,182	172,182	172,182	172,182	$	-	172,182	172,182	
Special Assmnts- Discounts	-	(17,567)	(17,665)	(18,228)	(17,162)	$	(1,066)	(18,228)	(18,228)	

REVENUES

TOTAL REVENUES	600,889	611,349	611,723	610,001	605,533	5,380	610,913	610,001 EXPENDITURES
Administrative

Misc-Assessmnt Collection Cost	-	5,993	8,763	9,114	8,651	$	110	8,761	9,114	
Total Administrative	-	5,993	8,763	9,114	8,651	110	8,761	9,114	

Debt Service

Principal Debt Retirement	180,000	190,000	205,000	215,000		210,000	210,000	220,000	
Principal Prepayments					200,000		200,000		
Interest Expense	421,523	411,533	400,988	389,610	194,805	189,255	384,060	366,855	
Total Debt Service	601,523	601,533	605,988	604,610	394,805	399,255	794,060	586,855	
TOTAL EXPENDITURES	601,523	607,526	614,751	613,724	403,456	399,365	802,821	595,969	
Excess (deficiency) of revenues
Over (under) expenditures	(634)	
3,823	
(3,028)	
(3,723)	
202,077	
(393,985)	
(191,908)	
14,032	
OTHER FINANCING SOURCES (USES)
Interfund Transfer - In	-	
-	
2,224	
-	
-	
-	
-	
-	
Contribution to (Use of) Fund Balance	-	3,823	-	(3,723)	-	-	-	14,032	
TOTAL OTHER SOURCES (USES)	-	3,823	2,224	(3,723)	-	-	-	14,032	
Net change in fund balance	(634)	3,823	(804)	(3,723)	202,077	(393,985)	(191,908)	14,032	
FUND BALANCE, BEGINNING	619,104	618,471	622,295	621,491	621,491	-	621,491	429,583	
FUND BALANCE, ENDING	$ 618,470	$ 622,294	$ 621,491	$ 617,768	$ 823,568	$ (393,985)	$ 429,583	$ 443,615	

Annual Operating and Debt Service Budget
Fiscal Year 2020	8

Community Development District

Series 2006 Debt Service Fund

CORDOBA RANCH

AMORTIZATION SCHEDULE
Capital Improvement Revenue Bonds

Annual
Outstanding		Extraordinary				Debt		Debt Date	Balance	Principal		Redemption	Coupon	Interest	Service	Service

11/1/2019	$6,610,000		5.55%	$183,428	$183,428		
5/1/2020	$6,610,000	$220,000	5.55%	$183,428	$403,428	$586,855	
11/1/2020	$6,390,000		5.55%	$177,323	$177,323		
5/1/2021	$6,390,000	$235,000	5.55%	$177,323	$412,323	$589,645	
11/1/2021	$6,155,000		5.55%	$170,801	$170,801		
5/1/2022	$6,155,000	$245,000	5.55%	$170,801	$415,801	$586,603	
11/1/2022	$5,910,000		5.55%	$164,003	$164,003		
5/1/2023	$5,910,000	$260,000	5.55%	$164,003	$424,003	$588,005	
11/1/2023	$5,650,000		5.55%	$156,788	$156,788		
5/1/2024	$5,650,000	$275,000	5.55%	$156,788	$431,788	$588,575	
11/1/2024	$5,375,000		5.55%	$149,156	$149,156		
5/1/2025	$5,375,000	$290,000	5.55%	$149,156	$439,156	$588,313	
11/1/2025	$5,085,000		5.55%	$141,109	$141,109		
5/1/2026	$5,085,000	$305,000	5.55%	$141,109	$446,109	$587,218	
11/1/2026	$4,780,000		5.55%	$132,645	$132,645		
5/1/2027	$4,780,000	$325,000	5.55%	$132,645	$457,645	$590,290	
11/1/2027	$4,455,000		5.55%	$123,626	$123,626		
5/1/2028	$4,455,000	$345,000	5.55%	$123,626	$468,626	$592,253	
11/1/2028	$4,110,000		5.55%	$114,053	$114,053		
5/1/2029	$4,110,000	$360,000	5.55%	$114,053	$474,053	$588,105	
11/1/2029	$3,750,000		5.55%	$104,063	$104,063		
5/1/2030	$3,750,000	$380,000	5.55%	$104,063	$484,063	$588,125	
11/1/2030	$3,370,000		5.55%	$93,518	$93,518		
5/1/2031	$3,370,000	$405,000	5.55%	$93,518	$498,518	$592,035	
11/1/2031	$2,965,000		5.55%	$82,279	$82,279		
5/1/2032	$2,965,000	$430,000	5.55%	$82,279	$512,279	$594,558	
11/1/2032	$2,535,000		5.55%	$70,346	$70,346		
5/1/2033	$2,535,000	$455,000	5.55%	$70,346	$525,346	$595,693	
11/1/2033	$2,080,000		5.55%	$57,720	$57,720		
5/1/2034	$2,080,000	$475,000	5.55%	$57,720	$532,720	$590,440	
11/1/2034	$1,605,000		5.55%	$44,539	$44,539		
5/1/2035	$1,605,000	$505,000	5.55%	$44,539	$549,539	$594,078	
11/1/2035	$1,100,000		5.55%	$30,525	$30,525		
5/1/2036	$1,100,000	$535,000	5.55%	$30,525	$565,525	$596,050	
11/1/2036	$565,000		5.55%	$15,679	$15,679		
5/1/2037	$565,000	$565,000	5.55%	$15,679	$580,679	$596,358	
		
$6,610,000		
$4,023,195	
$10,633,195	
$10,633,195	

Annual Operating and Debt Service Budget
Fiscal Year 2020	9

CORDOBA RANCH

Community Development District	2006 Debt Service Fund

Budget Narrative
Fiscal Year 2020

REVENUES

Interest-Investments
The District earns interest income on its trust accounts with US Bank.

Special Assessments-Tax Collector
The District will levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the debt service expenditures during the fiscal year.

Special Assessments-Discounts
Per Section 197.162, Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments.

EXPENDITURES

Expenditures - Administrative

Miscellaneous-Assessment Collection Cost
The District reimburses the St. Johns County Tax Collector for necessary administrative costs. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted, whichever is greater. The fiscal year budget is based on a maximum of 2% of the anticipated assessment collections.

Expenditures – Debt Service

Debt Retirement
The District pays regular principal payments annually in order to pay down/retire the debt.

Interest Expense
The District pays interest expense on the debt twice during the year.

Annual Operating and Debt Service Budgets Fiscal Year 2020
10

Cordoba Ranch
Community Development District

Supporting Budget Schedules
Fiscal Year 2020

CORDOBA RANCH
Community Development District

All Funds

Comparison of Non-Ad Valorem Assessment Rates Fiscal Year 2020 vs. Fiscal Year 2019

General Fund		Debt Service		Total Assessments per Unit Percent		Percent		Percent

0
prepaid lots

FY 2020	FY 2019

Change

FY 2020	FY 2019

Change

FY 2020	FY 2019

Change

Units

$1,753.05   $1,753.05	0.00%	$2,233.81	$2,233.81	0.0%	$3,986.86   $3,986.86	0.0%	286

Annual Operating and Debt Service Budget
Fiscal Year 2020	11