Trails At Monterey Community Development District

Proposed Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

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 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
ADMINISTRATIVE ASSESSMENTS	57,438	
MAINTENANCE ASSESSMENTS	37,394	
DEBT ASSESSMENTS	219,413	
OTHER REVENUES	0	
INTEREST INCOME	300	
		
TOTAL REVENUES	$	314,545	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
AQUATIC/STORMWATER MANAGEMENT	7,350	
MITIGATION MAINTENANCE	3,300	
LAKE EASEMENT/LANDSCAPE MAINTENANCE	22,000	
ENGINEERING/INSPECTIONS	2,500	
TOTAL MAINTENANCE EXPENDITURES	$	35,150	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	5,000	
PAYROLL TAXES (EMPLOYER)	400	
MANAGEMENT	31,512	
SECRETARIAL	3,600	
LEGAL	10,500	
ASSESSMENT ROLL	6,000	
AUDIT FEES	3,600	
INSURANCE	6,000	
LEGAL ADVERTISING	750	
MISCELLANEOUS	1,550	
POSTAGE	300	
OFFICE SUPPLIES	600	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	3,500	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	750	
		
TOTAL ADMINISTRATIVE EXPENDITURES	$	74,587	
		
TOTAL EXPENDITURES	$	109,737	
		
REVENUES LESS EXPENDITURES	$	204,808	
		
BOND PAYMENTS	(206,248)	
		
BALANCE	$	(1,440)	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(6,285)	
DISCOUNTS FOR EARLY PAYMENTS	(12,570)	
		
EXCESS/ (SHORTFALL)	$	(20,295)	
		
CARRYOVER FROM PRIOR YEAR	20,295	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2020/2021
ACTUAL	
FISCAL YEAR 2021/2022
BUDGET	
FISCAL YEAR 2022/2023
BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	59,590	60,654	57,438	Expenditures Less Interest & Carryover/.94	
MAINTENANCE ASSESSMENTS	35,782	34,186	37,394	Expenditures/.94	
DEBT ASSESSMENTS	219,414	219,413	219,413	Bond Payments/.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	303	420	300	Interest Projected At $25 Per Month	
					
TOTAL REVENUES	$	315,089	$	314,673	$	314,545		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
AQUATIC/STORMWATER MANAGEMENT	4,740	7,000	7,350	Five Percent Increase From 2021/2022 Budget	
MITIGATION MAINTENANCE	1,500	3,135	3,300	Five Percent Increase From 2021/2022 Budget	
LAKE EASEMENT/LANDSCAPE MAINTENANCE	28,287	20,000	22,000	Ten Percent Increase From 2021/2022 Budget	
ENGINEERING/INSPECTIONS	2,765	2,000	2,500	$500 Increase From 2021/2022 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	37,292	$	32,135	$	35,150		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	2,200	5,000	5,000	No Change From 2021/2022 Budget	
PAYROLL TAXES (EMPLOYER)	168	400	400	Projected At 8% Of Supervisor Fees	
MANAGEMENT	30,600	30,600	31,512	CPI Adjustment (Capped At 3%)	
SECRETARIAL	3,600	3,600	3,600	No Change From 2021/2022 Budget	
LEGAL	6,727	10,500	10,500	No Change From 2021/2022 Budget	
ASSESSMENT ROLL	6,000	6,000	6,000	As Per Contract	
AUDIT FEES	3,400	3,500	3,600	Accepted Amount For 2021/2022 Audit	
INSURANCE	5,513	6,000	6,000	Insurance Estimate	
LEGAL ADVERTISING	422	750	750	No Change From 2021/2022 Budget	
MISCELLANEOUS	1,254	1,600	1,550	$500 Decrease From 2021/2022 Budget	
POSTAGE	97	325	300	$25 Decrease From 2021/2022 Budget	
OFFICE SUPPLIES	163	625	600	$25 Decrease From 2021/2022 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2021/2022 Budget	
TRUSTEE FEES	3,408	3,500	3,500	No Change From 2021/2022 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2021/2022 Budget	
WEBSITE MANAGEMENT	750	750	750	No Change From 2021/2022 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	64,827	$	73,675	$	74,587		
					
TOTAL EXPENDITURES	$	102,119	$	105,810	$	109,737		
					
REVENUES LESS EXPENDITURES	$	212,970	$	208,863	$	204,808		
					
BOND PAYMENTS	(209,363)	(206,248)	(206,248)	2023 P & I Payments Less Earned Interest	
					
BALANCE	$	3,607	$	2,615	$	(1,440)		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(3,034)	(6,285)	(6,285)	Two Percent Of Total Tax Roll	
DISCOUNTS FOR EARLY PAYMENTS	(11,373)	(12,570)	(12,570)	Four Percent Of Total Tax Roll	
					
EXCESS/ (SHORTFALL)	$	(10,800)	$	(16,240)	$	(20,295)		
					
CARRYOVER FROM PRIOR YEAR	0	16,240	20,295	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(10,800)	$	0	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021 ACTUAL	FISCAL YEAR 2021/2022 BUDGET	FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	

Interest Income	
13	
25	
15	
Projected Interest For 2022/2023	

NAV Tax Collection	
209,363	
206,248	
206,248	
Maximum Debt Service	

Total Revenues	
$	209,376	
$	206,273	
$	206,263		

EXPENDITURES					

Principal Payments	
115,000	
125,000	
125,000	
Principal Payment Due In 2023	

Interest Payments	
86,148	
79,413	
74,491	
Interest Payments Due In 2023	

Bond Redemption	
0	
1,860	
6,772	
Estimated Excess Debt Collections	

Total Expenditures	
$	201,148	
$	206,273	
$	206,263		

Excess/ (Shortfall)	
$	8,228	
$	-	
$	-		

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 1/1/22 =	May 2033

$1,880,000			

Trails At Monterey Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2018/2019	2019/2020	2020/2021	2021/2022	2022/2023	
 	Assessment*		    Assessment*		    Assessment*		    Assessment*		    Projected Assessment*		

Administrative	

$	133.50	

$	138.29	

$	141.98	

$	145.46	

$	

137.75	
Maintenance	$	94.61	$	89.64	$	85.51	$	81.99	$	89.68	
Debt	$	526.17	$	526.17	$	526.17	$	526.17	$	526.17	
Total	$	754.28	$	754.10	$	753.66	$	753.62	$	753.60	

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

Community Information:
Total Units	417

3/14/2022 4:30 PM	IV