Trails At Monterey Community Development District

Proposed Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
ADMINISTRATIVE ASSESSMENTS	57,665	
MAINTENANCE ASSESSMENTS	37,377	
DEBT ASSESSMENTS	219,413	
OTHER REVENUES	0	
INTEREST INCOME	420	
		
TOTAL REVENUES	$	314,875	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
AQUATIC/STORMWATER MANAGEMENT	9,000	
MITIGATION MAINTENANCE	3,135	
LAKE EASEMENT/LANDSCAPE MAINTENANCE	20,500	
ENGINEERING/INSPECTIONS	2,500	
TOTAL MAINTENANCE EXPENDITURES	$	35,135	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	5,000	
PAYROLL TAXES (EMPLOYER)	400	
MANAGEMENT	30,600	
SECRETARIAL	3,600	
LEGAL	11,500	
ASSESSMENT ROLL	6,000	
AUDIT FEES	3,300	
INSURANCE	6,250	
LEGAL ADVERTISING	750	
MISCELLANEOUS	1,800	
POSTAGE	375	
OFFICE SUPPLIES	675	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	3,500	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	750	
		
TOTAL ADMINISTRATIVE EXPENDITURES	$	75,025	
		
TOTAL EXPENDITURES	$	110,160	
		
REVENUES LESS EXPENDITURES	$	204,715	
		
BOND PAYMENTS	(206,248)	
		
BALANCE	$	(1,533)	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(6,289)	
DISCOUNTS FOR EARLY PAYMENTS	(12,578)	
		
EXCESS/ (SHORTFALL)	$	(20,400)	
		
CARRYOVER FROM PRIOR YEAR	20,400	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018
ACTUAL	
FISCAL YEAR 2018/2019
BUDGET	
FISCAL YEAR 2019/2020
BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	54,855	55,667	57,665	Expenditures Less Interest & Carryover/.94	
MAINTENANCE ASSESSMENTS	40,835	39,452	37,377	Expenditures/.94	
DEBT ASSESSMENTS	219,413	219,413	219,413	Bond Payments/.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	563	420	420	Interest Projected At $35 Per Month	
					
TOTAL REVENUES	$	315,666	$	314,952	$	314,875		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
AQUATIC/STORMWATER MANAGEMENT	4,740	10,000	9,000	$1,000 Decrease From 2018/2019 Budget	
MITIGATION MAINTENANCE	1,500	3,135	3,135	No Change From 2018/2019 Budget	
LAKE EASEMENT/LANDSCAPE MAINTENANCE	15,650	21,450	20,500	$950 Decrease From 2018/2019 Budget	
ENGINEERING/INSPECTIONS	850	2,500	2,500	No Change From 2018/2019 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	22,740	$	37,085	$	35,135		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	3,400	5,000	5,000	No Change From 2018/2019 Budget	
PAYROLL TAXES (EMPLOYER)	260	400	400	Projected At 8% Of Supervisor Fees	
MANAGEMENT	29,424	30,036	30,600	CPI Adjustment	
SECRETARIAL	3,600	3,600	3,600	No Change From 2018/2019 Budget	
LEGAL	7,172	12,000	11,500	$500 Decrease From 2018/2019 Budget	
ASSESSMENT ROLL	6,000	6,000	6,000	As Per Contract	
AUDIT FEES	3,000	3,200	3,300	Accepted Amount For 2018/2019 Audit	
INSURANCE	5,750	6,325	6,250	Insurance Estimate	
LEGAL ADVERTISING	509	750	750	No Change From 2018/2019 Budget	
MISCELLANEOUS	558	1,800	1,800	No Change From 2018/2019 Budget	
POSTAGE	167	400	375	$25 Decrease From 2018/2019 Budget	
OFFICE SUPPLIES	445	700	675	$25 Decrease From 2018/2019 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2018/2019 Budget	
TRUSTEE FEES	3,098	3,500	3,500	Trustee (US Bank) Increased Fees In 2018/2019	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2018/2019 Budget	
WEBSITE MANAGEMENT	500	500	750	$250 Increase From 2018/2019 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	64,408	$	74,736	$	75,025		
					
TOTAL EXPENDITURES	$	87,148	$	111,821	$	110,160		
					
REVENUES LESS EXPENDITURES	$	228,518	$	203,131	$	204,715		
					
BOND PAYMENTS	(209,434)	(206,248)	(206,248)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$	19,084	$	(3,117)	$	(1,533)		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(3,037)	(6,291)	(6,289)	Two Percent Of Total Tax Roll	
DISCOUNTS FOR EARLY PAYMENTS	(11,271)	(12,582)	(12,578)	Four Percent Of Total Tax Roll	
					
EXCESS/ (SHORTFALL)	$	4,776	$	(21,990)	$	(20,400)		
					
CARRYOVER FROM PRIOR YEAR	0	21,990	20,400	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	4,776	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
2,082	
25	
50	
Projected Interest For 2019/2020	

NAV Tax Collection	
209,434	
206,248	
206,248	
Maximum Debt Service	

Total Revenues	
$	211,516	
$	206,273	
$	206,298		

EXPENDITURES					

Principal Payments	
110,000	
110,000	
115,000	
Principal Payment Due In 2020	

Interest Payments	
97,048	
91,960	
88,160	
Interest Payments Due In 2020	

Bond Redemption	
0	
4,313	
3,138	
Estimated Excess Debt Collections	

Total Expenditures	
$	207,048	
$	206,273	
$	206,298		

Excess/ (Shortfall)	
$	4,468	
$	-	
$	-		

Series 2012 Refunding Bonds Information
Original Par Amount =	$2,830,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	1.75% - 4.25%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	May 2012			
Maturity Date =

Par Amount As Of 1/1/19 =	May 2033

$2,220,000			

Trails At Monterey Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2015/2016	2016/2017	2017/2018	2018/2019	2019/2020	
 	Assessment*		 	Assessment*		 	Assessment*		 	Assessment*		    Projected Assessment*		

Administrative	

$	103.08	

$	120.68	

$	130.24	

$	133.50	

$	

138.29	
Maintenance	$	126.00	$	108.13	$	97.93	$	94.61	$	89.64	
Debt	$	526.17	$	526.17	$	526.17	$	526.17	$	526.17	
Total	$	755.25	$	754.98	$	754.34	$	754.28	$	754.10	

* Assessments Include the Following : 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:
Total Units	417

4/24/2019 7:25 AM	IV