Trails At Monterey Community Development District

Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021 BUDGET	
ADMINISTRATIVE ASSESSMENTS	59,203	
MAINTENANCE ASSESSMENTS	35,782	
DEBT ASSESSMENTS	219,413	
OTHER REVENUES	0	
INTEREST INCOME	420	
		
TOTAL REVENUES	$	314,818	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
AQUATIC/STORMWATER MANAGEMENT	8,000	
MITIGATION MAINTENANCE	3,135	
LAKE EASEMENT/LANDSCAPE MAINTENANCE	20,500	
ENGINEERING/INSPECTIONS	2,000	
TOTAL MAINTENANCE EXPENDITURES	$	33,635	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	5,000	
PAYROLL TAXES (EMPLOYER)	400	
MANAGEMENT	30,600	
SECRETARIAL	3,600	
LEGAL	11,000	
ASSESSMENT ROLL	6,000	
AUDIT FEES	3,400	
INSURANCE	6,000	
LEGAL ADVERTISING	750	
MISCELLANEOUS	1,700	
POSTAGE	350	
OFFICE SUPPLIES	650	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	3,500	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	750	
		
TOTAL ADMINISTRATIVE EXPENDITURES	$	74,225	
		
TOTAL EXPENDITURES	$	107,860	
		
REVENUES LESS EXPENDITURES	$	206,958	
		
BOND PAYMENTS	(206,248)	
		
BALANCE	$	710	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(6,288)	
DISCOUNTS FOR EARLY PAYMENTS	(12,576)	
		
EXCESS/ (SHORTFALL)	$	(18,154)	
		
CARRYOVER FROM PRIOR YEAR	18,154	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2018/2019
ACTUAL	
FISCAL YEAR 2019/2020
BUDGET	
FISCAL YEAR 2020/2021
BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	56,259	57,665	59,203	Expenditures Less Interest & Carryover/.94	
MAINTENANCE ASSESSMENTS	39,452	37,377	35,782	Expenditures/.94	
DEBT ASSESSMENTS	219,413	219,413	219,413	Bond Payments/.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	544	420	420	Interest Projected At $35 Per Month	
					
TOTAL REVENUES	$	315,668	$	314,875	$	314,818		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
AQUATIC/STORMWATER MANAGEMENT	4,740	9,000	8,000	$1,000 Decrease From 2019/2020 Budget	
MITIGATION MAINTENANCE	1,480	3,135	3,135	No Change From 2019/2020 Budget	
LAKE EASEMENT/LANDSCAPE MAINTENANCE	15,480	20,500	20,500	No Change From 2019/2020 Budget	
ENGINEERING/INSPECTIONS	850	2,500	2,000	$500 Decrease From 2019/2020 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	22,550	$	35,135	$	33,635		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	2,200	5,000	5,000	No Change From 2019/2020 Budget	
PAYROLL TAXES (EMPLOYER)	168	400	400	Projected At 8% Of Supervisor Fees	
MANAGEMENT	30,036	30,600	30,600	No Change From 2019/2020 Budget	
SECRETARIAL	3,600	3,600	3,600	No Change From 2019/2020 Budget	
LEGAL	6,338	11,500	11,000	$500 Decrease From 2019/2020 Budget	
ASSESSMENT ROLL	6,000	6,000	6,000	As Per Contract	
AUDIT FEES	3,200	3,300	3,400	Accepted Amount For 2019/2020 Audit	
INSURANCE	5,000	6,250	6,000	Insurance Estimate	
LEGAL ADVERTISING	265	750	750	No Change From 2019/2020 Budget	
MISCELLANEOUS	479	1,800	1,700	$100 Decrease From 2019/2020 Budget	
POSTAGE	89	375	350	$25 Decrease From 2019/2020 Budget	
OFFICE SUPPLIES	254	675	650	$25 Decrease From 2019/2020 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2019/2020 Budget	
TRUSTEE FEES	3,408	3,500	3,500	No Change From 2019/2020 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2019/2020 Budget	
WEBSITE MANAGEMENT	500	750	750	No Change From 2019/2020 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	62,062	$	75,025	$	74,225		
					
TOTAL EXPENDITURES	$	84,612	$	110,160	$	107,860		
					
REVENUES LESS EXPENDITURES	$	231,056	$	204,715	$	206,958		
					
BOND PAYMENTS	(209,382)	(206,248)	(206,248)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	21,674	$	(1,533)	$	710		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(3,035)	(6,289)	(6,288)	Two Percent Of Total Tax Roll	
DISCOUNTS FOR EARLY PAYMENTS	(11,348)	(12,578)	(12,576)	Four Percent Of Total Tax Roll	
					
EXCESS/ (SHORTFALL)	$	7,291	$	(20,400)	$	(18,154)		
					
CARRYOVER FROM PRIOR YEAR	0	20,400	18,154	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	7,291	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2019/2020 BUDGET	FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	

Interest Income	
4,164	
50	
50	
Projected Interest For 2020/2021	

NAV Tax Collection	
209,382	
206,248	
206,248	
Maximum Debt Service	

Total Revenues	
$	213,546	
$	206,298	
$	206,298		

EXPENDITURES					

Principal Payments	
110,000	
115,000	
115,000	
Principal Payment Due In 2021	

Interest Payments	
93,748	
88,160	
83,991	
Interest Payments Due In 2021	

Bond Redemption	
0	
3,138	
7,307	
Estimated Excess Debt Collections	

Total Expenditures	
$	203,748	
$	206,298	
$	206,298		

Excess/ (Shortfall)	
$	9,798	
$	-	
$	-		

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 1/1/20 =	May 2033

$2,110,000			

Trails At Monterey Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2016/2017	2017/2018	2018/2019	2019/2020	2020/2021	
 	Assessment*		 	Assessment*		 	Assessment*		    Assessment*		    Projected Assessment*		

Administrative	

$	120.68	

$	130.24	

$	133.50	

$	138.29	

$	

141.98	
Maintenance	$	108.13	$	97.93	$	94.61	$	89.64	$	85.81	
Debt	$	526.17	$	526.17	$	526.17	$	526.17	$	526.17	
Total	$	754.98	$	754.34	$	754.28	$	754.10	$	753.96	

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

Community Information:
Total Units	417

6/28/2020 4:40 PM	IV