Trails At Monterey Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

OPERATING FUND FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET 10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
Administrative Assessments	57,665	58,159	58,159	
Maintenance Assessments	37,377	37,377	37,377	
Debt Assessments	219,413	219,413	219,413	
Other Revenues	0	0	0	
Interest Income	420	306	306	
TOTAL REVENUES	$	314,875	$	315,255	$	315,255	
				
EXPENDITURES				
MAINTENANCE EXPENDITURES				
AQUATIC/STORMWATER MANAGEMENT	9,000	7,000	4,740	
MITIGATION MAINTENANCE	3,135	2,000	1,500	
LAKE EASEMENT/LANDSCAPE MAINTENANCE	20,500	20,500	17,360	
ENGINEERING/INSPECTIONS	2,500	2,500	2,125	
TOTAL MAINTENANCE EXPENDITURES	$	35,135	$	32,000	$	25,725	

ADMINISTRATIVE EXPENDITURES				
SUPERVISOR FEES	5,000	3,600	3,600	
PAYROLL TAXES (EMPLOYER)	400	275	275	
MANAGEMENT	30,600	30,600	30,600	
SECRETARIAL	3,600	3,600	3,600	
LEGAL	11,500	7,000	5,593	
ASSESSMENT ROLL	6,000	6,000	6,000	
AUDIT FEES	3,300	3,300	3,300	
INSURANCE	6,250	5,251	5,251	
LEGAL ADVERTISING	750	750	564	
MISCELLANEOUS	1,800	1,000	435	
POSTAGE	375	140	134	
OFFICE SUPPLIES	675	380	363	
DUES & SUBSCRIPTIONS	175	175	175	
TRUSTEE FEES	3,500	3,408	3,408	
CONTINUING DISCLOSURE FEE	350	350	350	
WEBSITE MANAGEMENT	750	750	750	
TOTAL ADMINISTRATIVE EXPENDITURES	$	75,025	$	66,579	$	64,398	
				
TOTAL EXPENDITURES	$	110,160	$	98,579	$	90,123	
				
REVENUES LESS EXPENDITURES	$	204,715	$	216,676	$	225,132	
				
Bond Payments	(206,248)	(209,432)	(209,342)	
				
BALANCE	$	(1,533)	$	7,244	$	15,790	
				
County Appraiser & Tax Collector Fee	(6,289)	(3,034)	(3,034)	
Discounts For Early Payments	(12,578)	(11,402)	(11,402)	
				
EXCESS/SHORTFALL	$	(20,400)	$	(7,192)	$	1,354	
				
Carryover From Prior Year	20,400	20,400	0	
				
NET EXCESS/SHORTFALL	$	-	$	13,208	$	1,354	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$231,267	
($7,192)	
$224,075	

Notes
Carryover From Prior Year Of $20,440 was used to reduce Fiscal Year 2019/2020 Assessments.
$18,154 Of Fund Balance To Be Used To Reduce 2020/2021 Assessments.

DEBT SERVICE FUND FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET
10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
Interest Income	50	1,455	1,452	
NAV Tax Collection	206,248	209,342	209,342	
				
Total Revenues	$	206,298	$	210,797	$	210,794	
				
EXPENDITURES				
Principal Payments	115,000	115,000	115,000	
Interest Payments	88,160	90,173	90,173	
Bond Redemption	3,138	0	0	
Total Expenditures	$	206,298	$	205,173	$	205,173	
				
Excess/ (Shortfall)	$	-	$	5,624	$	5,621	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$192,979	
$5,624	
$198,603	

Notes
Reserve Fund Balance = $103,124*. Revenue Fund Balance = $95,479*.
Revenue Fund Balance To Be Used To Make Interest Payment On 11-1-20 Of $43,074.
* Approximate Amounts

Series 2012 Refunding Bonds Information		
Original Par Amount =	$2,830,000	Annual Principal Payments Due:	
Interest Rate =	1.75% - 4.25%	May 1st	
Issue Date =	May 2012	Annual Interest Payments Due:	
Maturity Date =	May 2033	May 1st & November 1st	

Par Amount As Of 9/30/20 =	
$1,995,000