Two Lakes Community Development District

Amended Final Budget For Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET - SERIES 2017

AMENDED FINAL DEBT SERVICE FUND BUDGET - SERIES 2019

AMENDED FINAL BUDGET
TWO LAKES COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2021/2022 OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET
10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Administrative Assessments	99,118	101,148	101,148	
Maintenance Assessments	163,124	163,463	163,463	
Debt Assessments (2017)	1,482,926	1,486,350	1,486,350	
Debt Assessments (2019)	1,153,711	1,153,853	1,153,853	
Other Revenue	0	0	0	
Interest Income - Stormwater	0	7	7	
Interest Income - Operating	360	105	101	
TOTAL REVENUES	$	2,899,239	$	2,904,926	$	2,904,922	
				
EXPENDITURES				
Supervisor Fees	0	0	0	
Management	37,956	37,956	37,956	
Legal	12,800	12,800	10,613	
Assessment Roll	9,400	9,400	9,400	
Audit Fees	5,500	5,500	5,500	
Arbitrage Rebate Fee	1,300	1,300	1,300	
Insurance	6,500	5,706	5,706	
Legal Advertisements	1,800	1,250	712	
Miscellaneous	1,600	800	411	
Postage	575	110	103	
Office Supplies	725	350	306	
Dues & Subscriptions	175	175	175	
Trustee Fees	6,500	6,500	6,500	
Continuing Disclosure Fee	2,000	1,500	1,500	
Administrative Contingency	6,700	3,350	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	93,531	$	86,697	$	80,182	
				
MAINTENANCE EXPENDITURES				
Annual Engineer's Report & Inspections	2,400	6,000	4,745	
Field Operations Management	1,500	1,500	1,500	
Lawn & Landscape Services - Entrance Roads & Interior Tracts	15,000	5,000	0	
Perimeter Berm - Lawn & Landscape Services	36,000	5,000	0	
Entrance Roads & Entry Features - MTE	8,400	2,000	0	
Irrigation System(s) - Interior/Exterior	10,000	3,000	0	
Roadway/Street Drainage System	8,400	2,000	0	
Street Lighting - Entry Roads	11,400	3,000	0	
FP&L Power/Utility Services - Irrigation & Street Lighting	16,000	4,000	0	
Lake Tract(s)	12,000	6,500	5,516	
Miscellaneous Maintenance	8,400	15,000	13,630	
Maintenance Contingency	23,837	30,000	27,868	
TOTAL MAINTENANCE EXPENDITURES	$	153,337	$	83,000	$	53,259	
				
TOTAL EXPENDITURES	$	246,868	$	169,697	$	133,441	
				
REVENUES LESS EXPENDITURES	$	2,652,371	$	2,735,229	$	2,771,481	
				
Bond Payments (2017)	(1,393,950)	(1,415,024)	(1,415,024)	
Bond Payments (2019)	(1,084,488)	(1,098,482)	(1,098,482)	
				
BALANCE	$	173,933	$	221,723	$	257,975	
				
County Appraiser & Tax Collector Fee	(57,978)	(27,933)	(27,933)	
Discounts For Early Payments	(115,955)	(111,385)	(111,385)	
				
EXCESS/ (SHORTFALL)	$	-	$	82,405	$	118,657	
				
Carryover From Prior Year	0	0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	82,405	$	118,657	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$595,147	
$82,405	
$677,552	

Note
Fund Balance Includes Stormwater Bank Account Balance Of $76,497.

I

AMENDED FINAL BUDGET
TWO LAKES COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND - SERIES 2017
FISCAL YEAR 2021/2022 OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET 10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Interest Income	25	5,500	5,400	
NAV Assessment Collection	1,393,950	1,415,024	1,415,024	
Transfer From Capital Projects Fund	0	5,040	5,040	
Total Revenues	$	1,393,975	$	1,425,564	$	1,425,464	
				
EXPENDITURES				
Principal Payments	420,000	410,000	410,000	
Interest Payments	970,000	976,663	976,663	
Bond Redemption	3,975	5,000	5,000	
Total Expenditures	$	1,393,975	$	1,391,663	$	1,391,663	
				
Excess/ (Shortfall)	$	-	$	33,901	$	33,801	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$1,726,525	
$33,901	
$1,760,426	

Notes
Reserve Fund Balance = $696,975*. Revenue Fund Balance = $1,063,451* Revenue Fund Used To Fund 12/15/22 Principal & Interest Payment Of $899,919 (Principal: $415,000 + Interest: $484,919 = $899,919).
* Approximate Amounts

Series 2017 Bond Information

Original Par Amount =	$21,685,000	Annual Principal Payments Due:	
Interest Rate =	3.25% - 5.0%	December 15th	
Issue Date =	June 2017	Annual Interest Payments Due:	
Maturity Date =

Par Amount As Of 9/30/22 =	December 2047

$20,120,000	June 15th & December 15th	

II

AMENDED FINAL BUDGET
TWO LAKES COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND - SERIES 2019
FISCAL YEAR 2021/2022 OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET 10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Interest Income	25	5,020	4,020	
NAV Assessment Collection	1,084,488	1,098,482	1,098,482	
				
Total Revenues	$	1,084,513	$	1,103,502	$	1,102,502	
				
EXPENDITURES				
Principal Payments	395,000	380,000	380,000	
Interest Payments	688,488	694,188	694,188	
Transfer To Construction Fund	0	2,544	1,544	
Bond Redemption	1,025	0	0	
Total Expenditures	$	1,084,513	$	1,076,732	$	1,075,732	
				
Excess/ (Shortfall)	$	-	$	26,770	$	26,770	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$1,290,722	
$26,770	
$1,317,492	

Notes
Reserve Fund Balance = $542,244*. Revenue Fund Balance = $775,248* Revenue Fund Used To Fund 12/15/22 Principal & Interest Payment Of $739,244 (Principal: $395,000 + Interest: $344,244 = $739,244).
* Approximate Amounts

Series 2019 Bond Information

Original Par Amount =	$19,050,000	Annual Principal Payments Due:	
Interest Rate =	3.0% - 4.0%	December 15th	
Issue Date =	September 2019	Annual Interest Payments Due:	
Maturity Date =

Par Amount As Of 9/30/22 =	December 2049

$18,300,000	June 15th & December 15th	

III