Trails At Monterey Community Development District

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

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 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
ADMINISTRATIVE ASSESSMENTS	60,654	
MAINTENANCE ASSESSMENTS	34,186	
DEBT ASSESSMENTS	219,413	
OTHER REVENUES	0	
INTEREST INCOME	420	
		
TOTAL REVENUES	$	314,673	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
AQUATIC/STORMWATER MANAGEMENT	7,000	
MITIGATION MAINTENANCE	3,135	
LAKE EASEMENT/LANDSCAPE MAINTENANCE	20,000	
ENGINEERING/INSPECTIONS	2,000	
TOTAL MAINTENANCE EXPENDITURES	$	32,135	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	5,000	
PAYROLL TAXES (EMPLOYER)	400	
MANAGEMENT	30,600	
SECRETARIAL	3,600	
LEGAL	10,500	
ASSESSMENT ROLL	6,000	
AUDIT FEES	3,500	
INSURANCE	6,000	
LEGAL ADVERTISING	750	
MISCELLANEOUS	1,600	
POSTAGE	325	
OFFICE SUPPLIES	625	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	3,500	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	750	
		
TOTAL ADMINISTRATIVE EXPENDITURES	$	73,675	
		
TOTAL EXPENDITURES	$	105,810	
		
REVENUES LESS EXPENDITURES	$	208,863	
		
BOND PAYMENTS	(206,248)	
		
BALANCE	$	2,615	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(6,285)	
DISCOUNTS FOR EARLY PAYMENTS	(12,570)	
		
EXCESS/ (SHORTFALL)	$	(16,240)	
		
CARRYOVER FROM PRIOR YEAR	16,240	
		
NET EXCESS/ (SHORTFALL)	$	0	

DETAILED PROPOSED BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2019/2020
ACTUAL	
FISCAL YEAR 2020/2021
BUDGET	
FISCAL YEAR 2021/2022
BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	58,160	59,203	60,654	Expenditures Less Interest & Carryover/.94	
MAINTENANCE ASSESSMENTS	37,377	35,782	34,186	Expenditures/.94	
DEBT ASSESSMENTS	219,413	219,413	219,413	Bond Payments/.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	306	420	420	Interest Projected At $35 Per Month	
					
TOTAL REVENUES	$	315,256	$	314,818	$	314,673		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
AQUATIC/STORMWATER MANAGEMENT	4,740	8,000	7,000	$1,000 Decrease From 2020/2021 Budget	
MITIGATION MAINTENANCE	1,500	3,135	3,135	No Change From 2020/2021 Budget	
LAKE EASEMENT/LANDSCAPE MAINTENANCE	17,360	20,500	20,000	$500 Decrease From 2020/2021 Budget	
ENGINEERING/INSPECTIONS	2,125	2,000	2,000	No Change From 2020/2021 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	25,725	$	33,635	$	32,135		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	3,600	5,000	5,000	No Change From 2020/2021 Budget	
PAYROLL TAXES (EMPLOYER)	275	400	400	Projected At 8% Of Supervisor Fees	
MANAGEMENT	30,600	30,600	30,600	No Change From 2020/2021 Budget	
SECRETARIAL	3,600	3,600	3,600	No Change From 2020/2021 Budget	
LEGAL	5,993	11,000	10,500	$500 Decrease From 2020/2021 Budget	
ASSESSMENT ROLL	6,000	6,000	6,000	As Per Contract	
AUDIT FEES	3,300	3,400	3,500	Accepted Amount For 2020/2021 Audit	
INSURANCE	5,251	6,000	6,000	Insurance Estimate	
LEGAL ADVERTISING	564	750	750	No Change From 2020/2021 Budget	
MISCELLANEOUS	435	1,700	1,600	$100 Decrease From 2020/2021 Budget	
POSTAGE	134	350	325	$25 Decrease From 2020/2021 Budget	
OFFICE SUPPLIES	363	650	625	$25 Decrease From 2020/2021 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2020/2021 Budget	
TRUSTEE FEES	3,408	3,500	3,500	No Change From 2020/2021 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2020/2021 Budget	
WEBSITE MANAGEMENT	750	750	750	No Change From 2020/2021 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	64,798	$	74,225	$	73,675		
					
TOTAL EXPENDITURES	$	90,523	$	107,860	$	105,810		
					
REVENUES LESS EXPENDITURES	$	224,733	$	206,958	$	208,863		
					
BOND PAYMENTS	(209,342)	(206,248)	(206,248)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	15,391	$	710	$	2,615		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(3,034)	(6,288)	(6,285)	Two Percent Of Total Tax Roll	
DISCOUNTS FOR EARLY PAYMENTS	(11,402)	(12,576)	(12,570)	Four Percent Of Total Tax Roll	
					
EXCESS/ (SHORTFALL)	$	955	$	(18,154)	$	(16,240)		
					
CARRYOVER FROM PRIOR YEAR	0	18,154	16,240	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	955	$	-	$	0		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2019/2020 ACTUAL	FISCAL YEAR 2020/2021 BUDGET	FISCAL YEAR 2021/2022 BUDGET	

COMMENTS	

Interest Income	
1,454	
50	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
209,342	
206,248	
206,248	
Maximum Debt Service	

Total Revenues	
$	210,796	
$	206,298	
$	206,273		

EXPENDITURES					

Principal Payments	
115,000	
115,000	
125,000	
Principal Payment Due In 2022	

Interest Payments	
90,173	
83,991	
79,413	
Interest Payments Due In 2022	

Bond Redemption	
0	
7,307	
1,860	
Estimated Excess Debt Collections	

Total Expenditures	
$	205,173	
$	206,298	
$	206,273		

Excess/ (Shortfall)	
$	5,624	
$	-	
$	-		

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 1/1/21 =	May 2033

$1,995,000			

Trails At Monterey Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2017/2018	2018/2019	2019/2020	2020/2021	2021/2022	
 	Assessment*		 	Assessment*		    Assessment*		    Assessment*		    Projected Assessment*		

Administrative	

$	130.24	

$	133.50	

$	138.29	

$	141.98	

$	

145.46	
Maintenance	$	97.93	$	94.61	$	89.64	$	85.51	$	81.99	
Debt	$	526.17	$	526.17	$	526.17	$	526.17	$	526.17	
Total	$	754.34	$	754.28	$	754.10	$	753.66	$	753.62	

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

Community Information:
Total Units	417

3/12/2021 5:28 PM	IV