Trails At Monterey Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

OPERATING FUND FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET 10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
ADMINISTRATIVE ASSESSMENTS	59,203	59,590	59,590	
MAINTENANCE ASSESSMENTS	35,782	35,782	35,782	
DEBT ASSESSMENTS	219,413	219,414	219,414	
OTHER REVENUES	0	0	0	
INTEREST INCOME	420	285	283	
TOTAL REVENUES	$	314,818	$	315,071	$	315,069	
				
EXPENDITURES				
MAINTENANCE EXPENDITURES				
AQUATIC/STORMWATER MANAGEMENT	8,000	4,740	4,740	
MITIGATION MAINTENANCE	3,135	1,500	1,500	
LAKE EASEMENT/LANDSCAPE MAINTENANCE	20,500	31,000	28,287	
ENGINEERING/INSPECTIONS	2,000	3,500	2,665	
TOTAL MAINTENANCE EXPENDITURES	$	33,635	$	40,740	$	37,192	

ADMINISTRATIVE EXPENDITURES				
SUPERVISOR FEES	5,000	2,200	2,200	
PAYROLL TAXES (EMPLOYER)	400	168	168	
MANAGEMENT	30,600	30,600	30,600	
SECRETARIAL	3,600	3,600	3,600	
LEGAL	11,000	8,000	6,327	
ASSESSMENT ROLL	6,000	6,000	6,000	
AUDIT FEES	3,400	3,400	3,400	
INSURANCE	6,000	5,513	5,513	
LEGAL ADVERTISING	750	750	422	
MISCELLANEOUS	1,700	1,700	1,254	
POSTAGE	350	100	97	
OFFICE SUPPLIES	650	200	163	
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	$	74,225	$	66,914	$	64,427	
				
TOTAL EXPENDITURES	$	107,860	$	107,654	$	101,619	
				
REVENUES LESS EXPENDITURES	$	206,958	$	207,417	$	213,450	
				
BOND PAYMENTS	(206,248)	(209,363)	(209,363)	
				
BALANCE	$	710	$	(1,946)	$	4,087	
				
COUNTY APPRAISER & TAX COLLECTOR FEE	(6,288)	(3,034)	(3,034)	
DISCOUNTS FOR EARLY PAYMENTS	(12,576)	(11,373)	(11,373)	
				
EXCESS/SHORTFALL	$	(18,154)	$	(16,353)	$	(10,320)	
				
CARRYOVER FROM PRIOR YEAR	18,154	18,154	0	
				
NET EXCESS/SHORTFALL	$	-	$	1,801	$	(10,320)	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$232,223	
($16,353)	
$215,870	

Notes
Carryover From Prior Year Of $18,154 was used to reduce Fiscal Year 2020/2021 Assessments.
$16,240 Of Fund Balance To Be Used To Reduce 2021/2022 Assessments.

DEBT SERVICE FUND FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET
10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Interest Income	50	13	12	
NAV Tax Collection	206,248	209,363	209,363	
				
Total Revenues	$	206,298	$	209,376	$	209,375	
				
EXPENDITURES				
Principal Payments	115,000	115,000	115,000	
Interest Payments	83,991	86,148	86,148	
Bond Redemption	7,307	0	0	
Total Expenditures	$	206,298	$	201,148	$	201,148	
				
Excess/ (Shortfall)	$	-	$	8,228	$	8,227	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$198,603	
$8,228	
$206,831	

Notes
Reserve Fund Balance = $103,124*. Revenue Fund Balance = $103,707*.
Revenue Fund Balance To Be Used To Make Interest Payment On 11-1-21 Of $40,918.
* 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 9/30/21 =	
$1,880,000