Approved

Budget

Fiscal

Year

2019

Armstrong

Community

Development

District

May

2,

2018

Armstrong

Community Development District	General Fund

Description

Revenues

Developer Contributions/Assessments

Total Revenues

Expenditures

Administrative

FY2018	Actual	
Amended	thru	
Budget	3/31/2018	

$116,298	$32,441	
$116,298	$32,441	

Projected	Total	
Next	Projected at	
6 Months	9/30/2018	

$63,716	$96,157	
$63,716	$96,157	

FY2019

Approved

Budget

$120,759 $120,759

Supervisors Fees

FICA Expense

Engineering

Arbitrage

Assessment Roll

Dissemination Agent

Attorney

Annual Audit

Trustee

Management Fees

Computer Time

Telephone

Postage

Insurance

Printing & Binding

Legal Advertising

Other Current Charges

Website Compliance

Property Taxes

Office Supplies

Dues, Licenses & Subscriptions

Total Administrative

Assigned Fund Balance

$6,000	$3,800	$2,400	$6,200	$6,000	
$459	$291	$184	$475	$459	
$15,000	$1,394	$5,000	$6,394	$15,000	
$600	$0	$0	$0	$600	
$0	$0	$0	$0	$5,000	
$3,500	$2,042	$1,458	$3,500	$3,500	
$20,000	$5,224	$10,448	$15,672	$20,000	
$5,000	$0	$5,000	$5,000	$5,000	
$5,275	$0	$0	$0	$5,275	
$45,000	$22,500	$22,500	$45,000	$45,000	
$1,500	$750	$750	$1,500	$1,500	
$250	$105	$105	$210	$250	
$750	$18	$50	$68	$100	
$5,500	$5,500	$0	$5,500	$6,050	
$1,000	$655	$655	$1,310	$1,500	
$3,500	$444	$2,050	$2,494	$2,500	
$500	$198	$198	$396	$500	
$1,000	$500	$500	$1,000	$1,000	
$1,139	$1,139	$0	$1,139	$1,200	
$150	$62	$62	$124	$150	
$175	$175	$0	$175	$175	
$116,298	$44,797	$51,360	$96,157	$120,759	
$0	($12,356)	$12,356	$0	$0	

Page 1

Armstrong

COMMUNITY

DEVELOPMENT DISTRICT

GENERAL

FUND

BUDGET

REVENUES:

Developer Contributions				
It is presently anticipated	that	the	District will	
General Fund Expenditures for	the	Fiscal Year.	

enter into

a

Fund

i

ng

Agreement

with

the

Developer

to

fund all

EXPENDITURES:

Administrative:

Engineering Fees

The  District's engineer

preparation for monthly

will be providing general engineering services board meetings, review invoices, etc.

to

the  District,  i.e.  attendance  and

Arbitrage			
The District	is	required to have an annual arbitrage rebate calculation on the District'sBonds.	
contract with	an independent auditing firm to pe rform the calculations.	

The

District will

Dissemination

The District is required by the Security and Exchange	
relates	to	additional  reporting requirements for un	
Agent.			

Commission -rated bond

to comply with Rule 15{c)(2)-	
issues .	GMS, LLC will act as	

12{b)(S), which Dissemination

Attorney

The  District's

preparation for

legal counsel will monthly meetings,

be providing general legal services to the District, i.e. attendance and review operating & maintenance contracts, etc.

Annual Audit	
The District	is required	
Accounting	Firm.  The	
pronouncement.	

to annually conduct an audit of its financial records by an Independent Certified Public fee is based on similar Community Development Districts and includes the GASB 34

Trustee Fees				
The District issued Series 2017A/B	that are held	with	a Trustee at	
based on the agreement between the Bank and the District.	

US

Bank.

The

amount

of

the trustee fees

is

Management Fees	
The	District receives Management,	
with	Governmental  Management	
Management Agreement.	

Accounting and

Services,  LLC.

Administrative services as part of a Management These services are further outlined in Exhibit

Agreement

"A"  of the

Postage

Mailing

of

agenda packages, overnight deliveries, correspondence, etc.

Page 2

Armstrong

COMMUNITY

DEVELOPMENT

DISTRICT

GENERAL

FUND

BUDGET

Printing & Binding Printing and Binding agenda packages envelopes etc.

for

board  meetings,  printing

of

computerized  checks,  stationary,

Insurance				
The  District	has  a General  Liability  &	Public Officials  Liability  Insurance  policy with	Egis	
Advisors, a firm that specializes in providing insurance coverage to governmental agencies.	

Insurance

&

Risk

Legal Advertising

The  District is  required  to  advertise

newspaper of general circulation .

various  notices

for

monthly Board  meetings,  public hearings etc

in

a

Other Current Charges

Bank charges and any other

miscellaneous expenses

that

incurred during the year.

Website Administration

Per Chapter 2014-22, Laws	of	
CDD as well as links to useful	
LLC and updated monthly.		

Florida, all Districts must have a website to provide detailed information on the websites regarding Compliance issues. This website will be maintained by GMS,

Property Taxes

Represents the Ad Valorem taxes due on a Conservation Easement held by the Districts .  Taxes are paid

Jimmy Weeks, Clay County Tax Collector.

to

Office Supplies

Miscellaneous office supplies.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the

only expense under this category for the District.

Department

of

Economic

Opportunity

for

$175 .

This

is

the

Page 3

Armstrong

Community Development District

Debt Service Fund

Series 2017A/B

	Description		
	REVENUES:			
	Direct Assessments		
	Interest Income		
11)	Carry Forward Surplus		
			
	TOTAL REVENUES		
	EXPENDITURES:		
	Series 2017 A		
	Interest 11/1		
	Principal	- 11/1		
	Interest -	5/1		
	Series 20178		
	Interest 11/1		
	Principal	- 11/1		
	Interest -	5/1		
	TOTAL EXPENDITURES		
	EXCESS REVENUES		
11)	Represents Cap Interest		

				Approved	
FY2018	Actual	Projected	Total	FY2019	
Amended	thru	Next	Projected at	Approved	
Budget	3/31/2018	6 Months	9/30/2018	Budget	

$0	$0	$0	$0	$414,675	
$500	$686	$500	$1,186	$0	
$381,729	$381,729	$0	$381,729	$176,024	
$382,229	$382,415	$500	$382,915	$590,699	

$0	$0	$0		$0	$98,975	
$0	$0	$0		$0	$0	
$117,120	$0	$117,120	$117,120	$98,975	
$0	$0	$0		$0	$75,863	
$0	$0	$0		$0	$0	
$89,771	$0	$89,771		$89,771	$75,863	
$206,891	$0	$206,891	$206,891	$349,675	
$175,338	$382,415	($206,391)	$176,024	$241,023	
			11/1/19	Interest	$174,838	
			11/1/19	Principal	$65,000	
					$239,838	

Page

4

	Armstrong						
	COMMUNITY DEVELOPMENT DISTRICT				
			PR INCIPAL				
	DATE		BALANCE		INTEREST		
(I )	1-May-18	$	4,035,000	$	117,121		
							
	1-Nov-18	$	4,035,000	$	98,975		
	1-May-19	s	4,035,000	s	98,975		
	1-Nov-19	s	4,035,000	s	98,975		
	1-May-20	s	3,970,000	s	97,797		
	1-Nov-20	$	3,970,000	$	97,797		
	1-May-21	$	3,900,000	$	96,528		
	1-Nov-21	s	3,900,000	$	96,528		
	1-May-22	$	3,830,000	s	95,259		
	1-Nov-22	s	3,830,000	s	95,259		
	1-May-23	$	3,755,000	$	93,900		
	1-Nov-23	$	3,755,000	$	93,900		
	1-May-24	$	3,680,000	$	92,541		
							
	1-Nov-24	$	3,680,000	$	92,541		
	1-May-25	$	3,600,000	$	90,741		
	1-Nov-25	$	3,600,000	$	90,741		
	1-May-26	$	3,520,000	$	88,941		
	1-Nov-26	$	3,520,000	$	88,941		
	1-May-27	$	3,435,000	$	87,028		
	1-Nov-2 7	$	3,435,000	$	87,028		
	1-May-28	$	3,345,000	$	85,003		
	1-Nov-28	$	3,345,000	s	85,003		
	1-May-29	$	3, 250,000	$	82,866		
	1-Nov-29	$	3,250,000	$	82,866		
	1-May-30	$	3,150,000	$	80,366		
	1-Nov-30	$	3,150,000	$	80,366		
	1-May-31	$	3,050,000	$	77,866		
							
	1-Nov-31	$	3,050,000	$	77,866		
	1-May-32	$	2,945,000	$	75,241		
	1-Nov-3 2	$	2,945,000	$	75,241		
	1-May-33	$	2,830,000	$	72,366		
	1-Nov-33	$	2,830,000	$	72,366		
	1-May-34	$	2,710,000	$	69,366		
	1-Nov-34	$	2,710,000	$	69,366		
	1-May-35	$	2,585,000	$	66,241		
	1-Nov-35	$	2,585,000	$	66,241		
	1-May-36	$	2,455,000	$	62,909		
	1-Nov-36	$	2,455,000	$	62,909		
	1-May-37	$	2,315,000	$	59,322		
	1-Nov-37	$	2,315,000	$	59,322		
	1-May-38	$	2,170,000	$	55,606		
							
	1-Nov-38	$	2,170,000	$	55,606		
	1-May-39	$	2,020,000	$	51,763		
	1-Nov-39	$	2,020,000	$	51,763		
	1-May-40	$	1,860,000	$	47,663		
							
	1-Nov-40	$	1,860,000	$	47,663		
	1-May-41	$	1,690,000	$	43,306		
	1-Nov-41	$	1,690,000	$	43,306		
	1-May-42	$	1,515,000	$	38,822		
							
	1-Nov-42	$	1,515,000	$	38,822		
							
	1-May-43	$	1,330,000	$	34,081		
	1-Nov-43	$	1,330,000	$	34,081		
							
	1-May-44	$	1,135,000	$	29,084		
	1-Nov-44	$	1,135,000	$	29,084		
	1-May-45	$	930,000	$	23,831		
	1-Nov-45	$	930,000	$	23,831		
	1-May-46	$	715,000	$	18,322		
	1-Nov-46	$	715,000	s	18,322		
	1-May-47		490,000				
		$		$	12,556		
							
	1-Nov-47	$	490,000	$	12,556		
	1-May-48	$	250,000	$	6,406		
							
	1-Nov-48	$	250,000	$	6,406		
							
				$	4,085,483.10		

(1) Rep re sents Interest from 9/6/17 through 5/1/18

Page 5

$

$ s

$ $ $

$ s
$
s s

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

$

PRINCIPAL

65,000

70,000

70,000

75,000

75,000

80,000

80,000

85,000

90,000

95,000

100,000

100,000

105,000

115,000

120,000

125,000

130,000

140,000

145,000

150,000

160,000

170,000

175,000

185,000

195,000

205,000

215,000

225,000

240,000

250,000

4,035,000.00

Series 2017A

Amortization Schedule

	TOTAL	
$		
$	216,095 .60	
s		
$	262,950.00	
$		
$	265,593 .75	
$		
$	263,056.25	
$		
s	265,518.75	
$		
$	262,800.00	
$		
$	265,081.25	
$		
$	261,481.25	
$		
$	262,881.25	
$		
$	264,056.25	
$		
$	265,006.25	
$		
$	265,731.25	
$		
$	260,731.25	
$		
$	260,731.25	
$		
$	265,481.25	
$		
$	264,731.25	
$		
$	263,731 .25	
$		
$	262,481.25	
$		
$	265,818.75	
$		
$	263,643.75	
$		
$	261,212.50	
$		
$	263,525.00	
$		
$	265,325.00	
$		
$	261,612.50	
$		
$	262,643.75	
$		
$	263,162.50	
$		
$	263,168.75	
$		
$	262,662.50	
$		
$	261,643.75	
$		
$	265,112.50	
$		
$	262,812.50	
$	8,120,483 .10	

Armstrong

COMMUNITY DEVELOPMENT DISTRICT

Series 20178

Amortization Schedule

DATE

PRINCIPAL BALANCE

RATE

INTEREST

PRINCIPAL

TOTAL

(1)	1-May-18	$	2,890,000		
					
	1-Nov-18	$	2,890,000		
	1-May-19	$	2,890,000		
	1-Nov-19	$	2,890,000		
	1-May-20	$	2,890,000		
	1-Nov-20	$	2,890,000		
	1-May-21	$	2,890,000		
	1-Nov-21	$	2,890,000		
	1-May-22	$	2,890,000		
	1-Nov-22	$	2,890,000		
	1-May-23	$	2,890,000		
	1-Nov-23	$	2,890,000		
	1-May-24	$	2,890,000		
	1-Nov-24	$	2,890,000		
	1-May-25	$	2,890,000		
	1-Nov-25	$	2,890,000		
	1-May-26	$	2,890,000		
	1-Nov-26	$	2,890,000		
	1-May-27	$	2,890,000		
	1-Nov-27	$	2,890,000		
	1-May-28	$	2,890,000		
	1-Nov-28	$	2,890,000		
	1-May-29	$	2,890,000		
	1-Nov-29	$	2,890,000		

(1)	Represents Interest from 9/6/17	through 5/1/18		

5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.25%

Total

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

$

89,770	.63	
75,862.50	
75,862.50	
75,862	.50	
75,862	.50	
75,862.50	
75,862	.50	
75,862	.50	
75,862	.50	
75,862.50	
75,862.50	
75,862.50	
75,862.50	
75,862.50	
75,862.50	
75,862.50	
75,862	.50	
75,862	.50	
75,862.50	
75,862.50	
75,862	.50	
75,862 .50	
75,862.50	
75,862 .50	
1,834,608	.13	

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

$

2,890,000.00

2,890,000.00

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

$

165,633 .13

151,725.00

151,725.00

151,725.00

151,725.00

151,725.00

151,725.00

151,725.00

151,725 .00

151,725 .00

151,725.00

3,041,725.00

4,724,608.13

Page

6