TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT

MIAMI-DADE COUNTY SPECIAL BOARD MEETING JUNE 5, 2023
6:30 P.M.

Special District Services, Inc. 8785 SW 165th Avenue, Suite 200
Miami, FL 33024

www.trailsatmontereycdd.org 786.347.2711 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA TRAILS OF MONTEREY
COMMUNITY DEVELOPMENT DISTRICT
Kendall Executive Center 8785 SW 165th Avenue, Suite 200
Miami, FL 33193
SPECIAL BOARD MEETING
June 5, 2023
6:30 p.m.

Call to Order
Proof of Publication…	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
April 25, 2023 Regular Board Meeting Minutes…	Page 2
Old Business
Update Regarding District Engineer Lake Bank Inspections (Reported by the Chavez Residence Representative)
Discussion Regarding Bond Options for Lake Bank Restoration Project
New Business
Consider Resolution No. 2023-01 Adopting a Fiscal Year 2023/2024 Proposed Budget…	Page 5
Administrative Matters
Financial Update…	Page 30
Statement of Financial Interest 2022 Form 1 – Filing Deadline: July 1, 2023
Board Member/Staff: Additional Comments/Requests
Adjourn

Miscellaneous Notices
Published in Miami Daily Business Review on May 24, 2023

Location
Miami-Dade County, Florida
Notice Text
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT NOTICE OF SPECIAL BOARD MEETING
NOTICE IS HEREBY GIVEN that the Board of Supervisors (the "Board") of the Trails at Monterey Community Development District (the "District") will hold a Special Board Meeting (the "Meeting") at 6:30 p.m. on June 5, 2023, in the Conference Room at Kendall Executive Center located at 8785 SW 165th Avenue, Suite 200, Miami, Florida 33193.
The purpose of the Meeting is to discuss the District Fiscal Year 2023/2024 Proposed Budget and to conduct any other District business which may lawfully and properly come before the Board. A copy of the Agenda for this Meeting may be obtained from the District's website or by contacting the District Manager at nnguyen@sdsinc.org and/or toll free at 1-877-737-4922 five (5) days prior to the date of the meeting.
Meetings are open to the public and are conducted in accordance with the provisions of Florida law for community development districts. This Meeting may be continued as found necessary to a date, time and place specified on the record. Also, there may be occasions when Staff and/or Board members may participate by speaker telephone.
If any person decides to appeal any decision made with respect to any matter considered at this meeting, such person will need a record of the proceedings and such person may need to ensure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.
In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at this Meeting should contact the District Manager at nnguyen@sdsinc.org and/or 1-877-737-4922 at least seven (7) days prior to the date of this particular meeting.
Meetings may be cancelled from time to time without advertised notice. TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT
www.trailsatmontereycdd.org 5/24 23-36/0000664703M

TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
APRIL 25, 2023

CALL TO ORDER

Ms. Nguyen called the Trails at Monterey Community Development District (the “District”) Regular Board Meeting of April 25, 2023, to order at 6:51 p.m. in the Kendall Executive Center located at 8785 SW 165th Avenue, Suite 200, Miami, Florida 33193.

PROOF OF PUBLICATION

Ms. Nguyen presented proof of publication that notice of the Regular Board Meeting had been published in the Miami Daily Business Review on October 17, 2022, as part of the District’s Fiscal Year 2022/2023 Meeting Schedule, as legally required.

ESTABLISH A QUORUM

Ms. Nguyen stated that the attendance of Chairman Juan Sanhueza, Vice Chairman Carlos Delgado and Supervisors Olga Nadal and Andy Gonzalez constituted a quorum and it was in order to proceed with the meeting.

Staff in attendance included: District Manager Nancy Nguyen of Special District Services, Inc.; and General Counsel Ginger Wald of Billing, Cochran, Lyles, Mauro & Ramsey, P.A.

ADDITIONS OR DELETIONS TO AGENDA

There were no additions or deletions to the agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

There were no comments from the public for items not on the agenda.

APPROVAL OF MINUTES
February 28, 2023, Regular Board Meeting

The minutes of the February 28, 2023, Regular Board Meeting were presented for approval.

There being no changes, a MOTION was made by Mr. Delgado, seconded by Mr. Sanhueza and unanimously passed approving the minutes of the February 28, 2023, Regular Board Meeting, as presented.

OLD BUSINESS
Discussion	Regarding	Request	for	Stay	Submitted	for	Chavez	Residence	for Encroachment at 1860 SW 155th Avenue

Ms. Nguyen stated that she followed-up with Mr. Miguel Chavez and Ms. Grisselle Marino (Mr. Chavez’ representative) regarding the extension of time granted by the Board to Mr. Chavez to provide an engineer’s report documenting Mr. Chavez’ claims that the trees encroaching on the District’s lake bank should not be

removed. Ms. Nguyen stated that she did not receive a response from Mr. Chavez or Ms. Marino, nor had her offices received the engineer’s report. Ms. Nguyen asked the Board for direction on this item.

Ms. Wald recommended that the Board hold off on a decision on this item until the Board has had the opportunity to discuss the lake bank inspection and bond option agenda items. The Board agreed.

NOTE: The discussion proceeded to Old Business Items 2 & 3. Once those items were discussed, the Board resumed their discussion on this item.

After careful consideration and discussion, the consensus of the Board was to grant an extension of time until May 19, 2023, to the Chavez residence. The purpose of this extension is to allow the residence ample time to provide the District with a comprehensive engineer’s report reflecting their recommendations for landscaping on the lake bank.

Update Regarding District Engineer Lake Bank Inspections (Reported by the Chavez Residence Representative)

Ms. Nguyen explained that an inspection of the properties with encroachments reported by Ms. Marino had been conducted by District Staff and the District Engineer. Ms. Nguyen presented images of each property with the following notes:

1740 SW 155 Place – Palm trees are on private property
1739 SW 155 Place – Palm tree is planted on private property
15659 SW 17 Terrace – Encroachment letter mailed to the residence
15658 SW 16 Street (cactus) – Encroachment letter mailed to the residence
1660 SW 155 Court – During the District’s March 23, 2021, Regular Board Meeting, it was determined that the property boundary for this parcel is 3.6’ from the property fence; therefore, the landscaping is within the property boundary.
15683 SW 14 Street – This property is not located within District boundaries
15529 SW 19 Lane – Encroachment letter mailed to the residence
15658 SW 18 Lane – Trees are on private property
15644 SW 18 Street – Encroachment letter mailed to the residence
15626 SW 18 Street - Encroachment letter mailed to the residence

Discussion Regarding Bond Options for Lake Bank Restoration Project & FY 20023/2024 Proposed Budget

Ms. Nguyen presented a Proposed Loan Analysis from FMSbonds, Inc. for review by the Board. Ms. Nguyen explained that the document reflected a loan assumption of $1,400,000 at a 5% interest rate for a term of twenty (20) years. Ms. Nguyen further explained that the annual proposed assessment increase per home would be approximately $270. It was explained that the interest rates were extremely volatile and until a term sheet is provided by a bank, the actual rate is unknown. The Board discussed their financing options.

Ms. Nguyen advised that the lake bank inspection by Landshore Enterprises, LLC was expected to commence on May 30th and would be completed in late June.

The Board consensus was to schedule a Special Board Meeting for June 5, 2023, at 6:30 p.m. in the Kendall Executive Center located at 8785 SW 165th Avenue, Suite 200, Miami, Florida 33193, to discuss this item after the lake bank inspection by Landshore Enterprises, LLC has been completed.

NEW BUSINESS
Discussion Regarding Outflow Lines from Private Properties onto Lake Banks

Ms. Nguyen explained that during the inspection of the lake banks by District Staff, it was noted that there were several private properties with outflow lines that may be draining water onto the lake banks. Ms. Nguyen further explained that complaints for these properties were submitted to Miami-Dade County (the “County”). The County conducted an inspection of the outflow lines at the properties listed below. Ms. Nguyen will report the County’s findings once she receives them. More information on this item will be provided at a future meeting.

15526 SW 18 Street
15529 SW 19 Lane
15544 SW 18 Street
15565 SW 19 Lane
15607 SW 18 Street
1868 SW 155 Avenue (berm removed)

ADMINISTRATIVE MATTERS
Financial Update

Ms. Nguyen presented the monthly financial statements presented in the meeting book. Available funds as of March 31, 2023, were $266,432.53.

BOARD MEMBER/STAFF ADDITIONAL COMMENTS/REQUESTS

There were no closing comments from Board Members.

Ms. Nguyen reminded the Board of the Special Board Meeting scheduled for June 5, 2023, at 6:30 p.m. in the Kendall Executive Center located at 8785 SW 165th Avenue, Suite 200, Miami, Florida 33193.

ADJOURNMENT

There being no further business to come before the Board, a MOTION was made by Mr. Sanhueza, seconded by Mr. Gonzalez adjourning the meeting at 7:37 p.m. The MOTION carried unanimously.

ATTESTED BY:

Secretary/Assistant Secretary	Chair/Vice Chair

RESOLUTION NO. 2023-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2023/2024; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (“Board”) of the Trails at Monterey Community Development District (“District”) is required by Chapter 190.008, Florida Statutes, to approve a Proposed Budget for each fiscal year; and,

WHEREAS, the Proposed Budget including the Assessments for Fiscal Year 2023/2024 has been prepared and considered by the Board.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT THAT:

Section 1.  The Proposed Budget including the Assessments for Fiscal Year 2023/2024 attached hereto as Exhibit “A” is approved and adopted.

Section 2.	A Public Hearing is hereby scheduled for August 22, 2023 at 6:30 p.m. in the Kendall Executive Center, 8785 SW 165th Avenue, Suite 200, Miami, Florida 33193, for the purpose of receiving public comments on the Proposed Fiscal Year 2023/2024 Budget.

PASSED, ADOPTED and EFFECTIVE this 5th day of June, 2023.

ATTEST:	TRAILS AT MONTEREY
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairman/Vice Chairman

Trails At Monterey Community Development District

SCENARIO 1 - NO ASSESSMENT INCREASE

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024 BUDGET	
ADMINISTRATIVE ASSESSMENTS	57 07	
MAINTENANCE ASSESSMENTS	37 3 	
DEBT ASSESSMENTS	21 13	
OTHER REVENUES	0	
INTEREST INCOME	 20	
		
TOTAL REVENUES	 	314, 34	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
A4UATIC/STORMWATER MANAGEMENT	7 350	
MITIGATION MAINTENANCE	3 300	
LA.E EASEMENT/LANDSCAPE MAINTENANCE	22 000	
ENGINEERING/INSPECTIONS	2 500	
EROSION CONTROL SHORELINE RESTORATION PRO-ECT	0	
TOTAL MAINTENANCE EXPENDITURES	 	3 ,1 0	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	5 000	
PA<ROLL TA;ES EMPLO<ER 	 00	
MANAGEMENT	32 	
SECRETARIAL	3 00	
LEGAL	10 500	
ASSESSMENT ROLL	 000	
AUDIT FEES	3 700	
INSURANCE	 00	
LEGAL ADVERTISING	750	
MISCELLANEOUS	1 300	
POSTAGE	300	
OFFICE SUPPLIES	550	
DUES SUBSCRIPTIONS	175	
TRUSTEE FEES	 2 0	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	750	
		
TOTAL ADMINISTRATIVE EXPENDITURES	 	 , 3	
		
TOTAL EXPENDITURES	 	111, 33	
		
REVENUES LESS EXPENDITURES	 	202, 01	
		
BOND PA<MENTS	 20 2 	
		
BALANCE	 	 3,44 	
		
COUNT< APPRAISER TA; COLLECTOR FEE	 2 	
DISCOUNTS FOR EARL< PA<MENTS	 12 5 	
		
EXCESS/ S+ORTFALL 	 	 22,300 	
		
CARR<OVER FROM PRIOR <EAR	22 300	
		
NET EXCESS/ S+ORTFALL 	 	-	

DETAILED PROPOSED BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022
ACTUAL	
FISCAL YEAR 2022/2023
BUDGET	
FISCAL YEAR 2023/2024
BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	60,906	57,438	57,407	Expend tures Less Interest & Carryover/.94	
MAINTENANCE ASSESSMENTS	34,186	37,394	37,394	Expend tures/.94	
DEBT ASSESSMENTS	219,415	219,413	219,413	Bond Payments/.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	274	300	420	Interest ProMected At $35 Per Month	
					
TOTAL REVENUES	$	314,781	$	314,545	$	314,634		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
A4UATIC/STORMWATER MANAGEMENT	5,532	7,350	7,350	No Change From 2022/2023 Budget	
MITIGATION MAINTENANCE	875	3,300	3,300	No Change From 2022/2023 Budget	
LA.E EASEMENT/LANDSCAPE MAINTENANCE	15,610	22,000	22,000	No Change From 2022/2023 Budget	
ENGINEERING/INSPECTIONS	3,225	2,500	2,500	No Change From 2022/2023 Budget	
EROSION CONTROL SHORELINE RESTORATION PRO-ECT	0	0	0	Eros on Control Shorel ne Restorat on ProMect	
TOTAL MAINTENANCE EXPENDITURES	$	25,242	$	35,150	$	35,150		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	1,800	5,000	5,000	No Change From 2022/2023 Budget	
PAYROLL TAXES (EMPLOYER)	137	400	400	ProMected At 8 Of Superv sor Fees	
MANAGEMENT	30,600	31,512	32,448	CPI AdMustment (Capped At 3 )	
SECRETARIAL	3,600	3,600	3,600	No Change From 2022/2023 Budget	
LEGAL	7,842	10,500	10,500	No Change From 2022/2023 Budget	
ASSESSMENT ROLL	6,000	6,000	6,000	As Per Contract	
AUDIT FEES	3,500	3,600	3,700	$100 Increase From 2022/2023 Budget	
INSURANCE	5,706	6,000	6,600	F scal Year 2022/2023 Expend ture Was $6,134	
LEGAL ADVERTISING	354	750	750	No Change From 2022/2023 Budget	
MISCELLANEOUS	470	1,550	1,300	$250 Decrease From 2022/2023 Budget	
POSTAGE	221	300	300	No Change From 2022/2023 Budget	
OFFICE SUPPLIES	396	600	550	$50 Decrease From 2022/2023 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2022/2023 Budget	
TRUSTEE FEES	4,256	3,500	4,260	$760 Increase From 2022/2023 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2022/2023 Budget	
WEBSITE MANAGEMENT	750	750	750	No Change From 2022/2023 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	66,157	$	74,587	$	76,683		
					
TOTAL EXPENDITURES	$	91,399	$	109,737	$	111,833		
					
REVENUES LESS EXPENDITURES	$	223,382	$	204,808	$	202,801		
					
BOND PAYMENTS	(209,170)	(206,248)	(206,248)	2024 Pr nc pal & Interest Payments	
					
BALANCE	$	14,212	$	 1,440 	$	 3,447 		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(3,028)	(6,285)	(6,284)	Two Percent Of Total Tax Roll	
DISCOUNTS FOR EARLY PAYMENTS	(11,648)	(12,570)	(12,569)	Four Percent Of Total Tax Roll	
					
EXCESS/ S+ORTFALL 	$	 464 	$	 20,295 	$	 22,300 		
					
CARRYOVER FROM PRIOR YEAR	0	20,295	22,300	Carryover From Pr or Year	
					
NET EXCESS/ S+ORTFALL 	$	 464 	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2021/2022 ACTUAL	FISCAL YEAR 2022/2023 BUDGET	FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

Interest Income	
665	
15	
100	
ProMected Interest For 2023/2024	

NAV Tax Collect on	
209,170	
206,248	
206,248	
Max mum DeEt Serv ce	

Total Revenues	
$	209,835	
$	206,263	
$	206,348		

EXPENDITURES					

Pr nc pal Payments	
125,000	
125,000	
135,000	
Pr nc pal Payment Due In 2024	

Interest Payments	
81,835	
74,491	
69,206	
Interest Payments Due In 2024	

Bond Redempt on	
0	
6,772	
2,142	
Est mated Excess DeEt Collect ons	

Total Expenditures	
$	206,835	
$	206,263	
$	206,348		

Excess/ (Shortfall)	
$	3,000	
$	-	
$	-		

Series 2012 Refunding Bonds Information
Or g nal Par Amount =	$2,830,000	Annual Pr nc pal Payments Due =	May 1st	
Interest Rate =	1.75% 4.25 	Annual Interest Payments Due =	May 1st & NovemEer 1st	
Issue Date =	May 2012			
Matur ty Date =

Par Amount As Of 1/1/23 =	May 2033

$1,755,000			

Trails At Monterey Community Development District Assessment Comparison

F scal Year	F scal Year	F scal Year	F scal Year	Fiscal Year	
2019/2020	2020/2021	2021/2022	2022/2023	2023/2024	
	Assessment*		  Assessment*		  Assessment*		  Assessment*		  Projected Assessment*		

Adm n strat ve	

$	138.29	

$	141.98	

$	145.46	

$	137.75	

$	

137.67	
Ma ntenance	$	89.64	$	85.51	$	81.99	$	89.68	$	89.68	
DeEt	$	526.17	$	526.17	$	526.17	$	526.17	$	526.17	
Total	$	754.10	$	753.66	$	753.62	$	753.60	$	753.52	

* Assessments Include the Follow ng  4% D scount for Early Payments
1% County Tax Collector Fee
1% County Property Appra ser Fee

Commun ty Informat on 
Total Un ts	417

Trails At Monterey Community Development District

SCENARIO 2 - ONE YEAR PROJECT

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024 BUDGET	
ADMINISTRATIVE ASSESSMENTS	 1 131	
MAINTENANCE ASSESSMENTS	1 313 	
DEBT ASSESSMENTS	21 13	
OTHER REVENUES	0	
INTEREST INCOME	 20	
		
TOTAL REVENUES	 	1, 14, 3	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
A4UATIC/STORMWATER MANAGEMENT	7 350	
MITIGATION MAINTENANCE	3 300	
LA.E EASEMENT/LANDSCAPE MAINTENANCE	22 000	
ENGINEERING/INSPECTIONS	2 500	
EROSION CONTROL SHORELINE RESTORATION PRO-ECT	1 200 000	
TOTAL MAINTENANCE EXPENDITURES	 	1,23 ,1 0	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	5 000	
PAYROLL TA;ES EMPLOYER 	 00	
MANAGEMENT	32 	
SECRETARIAL	3 00	
LEGAL	10 500	
ASSESSMENT ROLL	 000	
AUDIT FEES	3 700	
INSURANCE	 00	
LEGAL ADVERTISING	750	
MISCELLANEOUS	1 300	
POSTAGE	300	
OFFICE SUPPLIES	550	
DUES SUBSCRIPTIONS	175	
TRUSTEE FEES	 2 0	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	750	
		
TOTAL ADMINISTRATIVE EXPENDITURES	 	 , 3	
		
TOTAL EXPENDITURES	 	1,311, 33	
		
REVENUES LESS EXPENDITURES	 	303,120	
		
BOND PAYMENTS	 20 2 	
		
BALANCE	 	 , 2	
		
COUNTY APPRAISER TA; COLLECTOR FEE	 32 2 1 	
DISCOUNTS FOR EARLY PAYMENTS	  5 1 	
		
EXCESS/ S+ORTFALL 	 	-	
		
CARRYOVER FROM PRIOR YEAR	0	
		
NET EXCESS/ S+ORTFALL 	 	-	

DETAILED PROPOSED BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022
ACTUAL	
FISCAL YEAR 2022/2023
BUDGET	
FISCAL YEAR 2023/2024
BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	60,906	57,438	81,131	Expenditures Less Interest & Carryover/.94	
MAINTENANCE ASSESSMENTS	34,186	37,394	1,313,989	Expenditures/.94	
DEBT ASSESSMENTS	219,415	219,413	219,413	Bond Payments/.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	274	300	420	Interest Projected At $35 Per Month	
					
TOTAL REVENUES	$	314,781	$	314,545	$	1,614,953		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
A4UATIC/STORMWATER MANAGEMENT	5,532	7,350	7,350	No Change From 2022/2023 Budget	
MITIGATION MAINTENANCE	875	3,300	3,300	No Change From 2022/2023 Budget	
LA.E EASEMENT/LANDSCAPE MAINTENANCE	15,610	22,000	22,000	No Change From 2022/2023 Budget	
ENGINEERING/INSPECTIONS	3,225	2,500	2,500	No Change From 2022/2023 Budget	
EROSION CONTROL SHORELINE RESTORATION PROJECT	0	0	1,200,000	Project To Be Completed In One Year	
TOTAL MAINTENANCE EXPENDITURES	$	25,242	$	35,150	$	1,235,150		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	1,800	5,000	5,000	No Change From 2022/2023 Budget	
PAYROLL TAXES (EMPLOYER)	137	400	400	Projected At 8 Of Supervisor Fees	
MANAGEMENT	30,600	31,512	32,448	CPI Adjustment (Capped At 3 )	
SECRETARIAL	3,600	3,600	3,600	No Change From 2022/2023 Budget	
LEGAL	7,842	10,500	10,500	No Change From 2022/2023 Budget	
ASSESSMENT ROLL	6,000	6,000	6,000	As Per Contract	
AUDIT FEES	3,500	3,600	3,700	$100 Increase From 2022/2023 Budget	
INSURANCE	5,706	6,000	6,600	Fiscal Year 2022/2023 Expenditure Was $6,134	
LEGAL ADVERTISING	354	750	750	No Change From 2022/2023 Budget	
MISCELLANEOUS	470	1,550	1,300	$250 Decrease From 2022/2023 Budget	
POSTAGE	221	300	300	No Change From 2022/2023 Budget	
OFFICE SUPPLIES	396	600	550	$50 Decrease From 2022/2023 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2022/2023 Budget	
TRUSTEE FEES	4,256	3,500	4,260	$760 Increase From 2022/2023 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2022/2023 Budget	
WEBSITE MANAGEMENT	750	750	750	No Change From 2022/2023 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	66,157	$	74,587	$	76,683		
					
TOTAL EXPENDITURES	$	91,399	$	109,737	$	1,311,833		
					
REVENUES LESS EXPENDITURES	$	223,382	$	204,808	$	303,120		
					
BOND PAYMENTS	(209,170)	(206,248)	(206,248)	2024 Principal & Interest Payments	
					
BALANCE	$	14,212	$	 1,440 	$	96,872		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(3,028)	(6,285)	(32,291)	Two Percent Of Total Tax Roll	
DISCOUNTS FOR EARLY PAYMENTS	(11,648)	(12,570)	(64,581)	Four Percent Of Total Tax Roll	
					
EXCESS/ S+ORTFALL 	$	 464 	$	 20,295 	$	-		
					
CARRYOVER FROM PRIOR YEAR	0	20,295	0	Carryover From Prior Year	
					
NET EXCESS/ S+ORTFALL 	$	 464 	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2021/2022 ACTUAL	FISCAL YEAR 2022/2023 BUDGET	FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

Interest Income	
665	
15	
100	
Projected Interest For 2023/2024	

NAV Tax Collection	
209,170	
206,248	
206,248	
Maximum DeEt Service	

Total Revenues	
$	209,835	
$	206,263	
$	206,348		

EXPENDITURES					

Principal Payments	
125,000	
125,000	
135,000	
Principal Payment Due In 2024	

Interest Payments	
81,835	
74,491	
69,206	
Interest Payments Due In 2024	

Bond Redemption	
0	
6,772	
2,142	
Estimated Excess DeEt Collections	

Total Expenditures	
$	206,835	
$	206,263	
$	206,348		

Excess/ (Shortfall)	
$	3,000	
$	-	
$	-		

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 & NovemEer 1st	
Issue Date =	May 2012			
Maturity Date =

Par Amount As Of 1/1/23 =	May 2033

$1,755,000			

Trails At Monterey Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2019/2020	2020/2021	2021/2022	2022/2023	2023/2024	
	Assessment*		  Assessment*		  Assessment*		  Assessment*		  Projected Assessment*		

Administrative	

$	138.29	

$	141.98	

$	145.46	

$	137.75	

$	

194.56	
Maintenance	$	89.64	$	85.51	$	81.99	$	89.68	$	3,151.06	
DeEt	$	526.17	$	526.17	$	526.17	$	526.17	$	526.17	
Total	$	754.10	$	753.66	$	753.62	$	753.60	$	3,871.79	

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

Community Information 
Total Units	417

Trails At Monterey Community Development District

SCENARIO 3 - TWO YEAR PROJECT

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024 BUDGET	
ADMINISTRATIVE ASSESSMENTS	 1 131	
MAINTENANCE ASSESSMENTS	675 6 1	
DEBT ASSESSMENTS	21 13	
OTHER REVENUES	0	
INTEREST INCOME	 20	
		
TOTAL REVENUES	 	 , 	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
A4UATIC/STORMWATER MANAGEMENT	7 350	
MITIGATION MAINTENANCE	3 300	
LA.E EASEMENT/LANDSCAPE MAINTENANCE	22 000	
ENGINEERING/INSPECTIONS	2 500	
EROSION CONTROL SHORELINE RESTORATION PRO-ECT	600 000	
TOTAL MAINTENANCE EXPENDITURES	 	 3 ,1 0	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	5 000	
PAYROLL TA;ES EMPLOYER 	 00	
MANAGEMENT	32 	
SECRETARIAL	3 600	
LEGAL	10 500	
ASSESSMENT ROLL	6 000	
AUDIT FEES	3 700	
INSURANCE	6 600	
LEGAL ADVERTISING	750	
MISCELLANEOUS	1 300	
POSTAGE	300	
OFFICE SUPPLIES	550	
DUES SUBSCRIPTIONS	175	
TRUSTEE FEES	 260	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	750	
		
TOTAL ADMINISTRATIVE EXPENDITURES	 	 , 3	
		
TOTAL EXPENDITURES	 	 11, 33	
		
REVENUES LESS EXPENDITURES	 	2 4, 22	
		
BOND PAYMENTS	 206 2 	
		
BALANCE	 	 , 4	
		
COUNTY APPRAISER TA; COLLECTOR FEE	 1 525 	
DISCOUNTS FOR EARLY PAYMENTS	 3 0 	
		
EXCESS/ S+ORTFALL 	 	-	
		
CARRYOVER FROM PRIOR YEAR	0	
		
NET EXCESS/ S+ORTFALL 	 	-	

DETAILED PROPOSED BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022
ACTUAL	
FISCAL YEAR 2022/2023
BUDGET	
FISCAL YEAR 2023/2024
BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	60,906	57,438	81,131	Expenditures Less Interest & Carryover/.94	
MAINTENANCE ASSESSMENTS	34,186	37,394	675,691	Expenditures/.94	
DEBT ASSESSMENTS	219,415	219,413	219,413	Bond Payments/.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	274	300	420	Interest Projected At $35 Per Month	
					
TOTAL REVENUES	$	314,781	$	314,545	$	976,655		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
A4UATIC/STORMWATER MANAGEMENT	5,532	7,350	7,350	No Change From 2022/2023 Budget	
MITIGATION MAINTENANCE	875	3,300	3,300	No Change From 2022/2023 Budget	
LA.E EASEMENT/LANDSCAPE MAINTENANCE	15,610	22,000	22,000	No Change From 2022/2023 Budget	
ENGINEERING/INSPECTIONS	3,225	2,500	2,500	No Change From 2022/2023 Budget	
EROSION CONTROL SHORELINE RESTORATION PROJECT	0	0	600,000	Project To Be Completed In Two Years	
TOTAL MAINTENANCE EXPENDITURES	$	25,242	$	35,150	$	635,150		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	1,800	5,000	5,000	No Change From 2022/2023 Budget	
PAYROLL TAXES (EMPLOYER)	137	400	400	Projected At 8 Of Supervisor Fees	
MANAGEMENT	30,600	31,512	32,448	CPI Adjustment (Capped At 3 )	
SECRETARIAL	3,600	3,600	3,600	No Change From 2022/2023 Budget	
LEGAL	7,842	10,500	10,500	No Change From 2022/2023 Budget	
ASSESSMENT ROLL	6,000	6,000	6,000	As Per Contract	
AUDIT FEES	3,500	3,600	3,700	$100 Increase From 2022/2023 Budget	
INSURANCE	5,706	6,000	6,600	Fiscal Year 2022/2023 Expenditure Was $6,134	
LEGAL ADVERTISING	354	750	750	No Change From 2022/2023 Budget	
MISCELLANEOUS	470	1,550	1,300	$250 Decrease From 2022/2023 Budget	
POSTAGE	221	300	300	No Change From 2022/2023 Budget	
OFFICE SUPPLIES	396	600	550	$50 Decrease From 2022/2023 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2022/2023 Budget	
TRUSTEE FEES	4,256	3,500	4,260	$760 Increase From 2022/2023 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2022/2023 Budget	
WEBSITE MANAGEMENT	750	750	750	No Change From 2022/2023 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	66,157	$	74,587	$	76,683		
					
TOTAL EXPENDITURES	$	91,399	$	109,737	$	711,833		
					
REVENUES LESS EXPENDITURES	$	223,382	$	204,808	$	264,822		
					
BOND PAYMENTS	(209,170)	(206,248)	(206,248)	2024 Principal & Interest Payments	
					
BALANCE	$	14,212	$	 1,440 	$	58,574		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(3,028)	(6,285)	(19,525)	Two Percent Of Total Tax Roll	
DISCOUNTS FOR EARLY PAYMENTS	(11,648)	(12,570)	(39,049)	Four Percent Of Total Tax Roll	
					
EXCESS/ S+ORTFALL 	$	 464 	$	 20,295 	$	-		
					
CARRYOVER FROM PRIOR YEAR	0	20,295	0	Carryover From Prior Year	
					
NET EXCESS/ S+ORTFALL 	$	 464 	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2021/2022 ACTUAL	FISCAL YEAR 2022/2023 BUDGET	FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

Interest Income	
665	
15	
100	
Projected Interest For 2023/2024	

NAV Tax Collection	
209,170	
206,248	
206,248	
Maximum DeEt Service	

Total Revenues	
$	209,835	
$	206,263	
$	206,348		

EXPENDITURES					

Principal Payments	
125,000	
125,000	
135,000	
Principal Payment Due In 2024	

Interest Payments	
81,835	
74,491	
69,206	
Interest Payments Due In 2024	

Bond Redemption	
0	
6,772	
2,142	
Estimated Excess DeEt Collections	

Total Expenditures	
$	206,835	
$	206,263	
$	206,348		

Excess/ (Shortfall)	
$	3,000	
$	-	
$	-		

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 & NovemEer 1st	
Issue Date =	May 2012			
Maturity Date =

Par Amount As Of 1/1/23 =	May 2033

$1,755,000			

Trails At Monterey Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2019/2020	2020/2021	2021/2022	2022/2023	2023/2024	
	Assessment*		  Assessment*		  Assessment*		  Assessment*		  Projected Assessment*		

Administrative	

$	138.29	

$	141.98	

$	145.46	

$	137.75	

$	

194.56	
Maintenance	$	89.64	$	85.51	$	81.99	$	89.68	$	1,620.37	
DeEt	$	526.17	$	526.17	$	526.17	$	526.17	$	526.17	
Total	$	754.10	$	753.66	$	753.62	$	753.60	$	2,341.10	

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

Community Information 
Total Units	417

Trails At Monterey Community Development District

SCENARIO 4 - TWENTY YEAR LOAN

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024 BUDGET	
ADMINISTRATIVE ASSESSMENTS	81 131	
MAINTENANCE ASSESSMENTS	1 7 5 2	
DEBT ASSESSMENTS	21 13	
OTHER REVENUES	0	
INTEREST INCOME	 20	
		
TOTAL REVENUES	 	4 , 0 	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
A4UATIC/STORMWATER MANAGEMENT	7 350	
MITIGATION MAINTENANCE	3 300	
LA.E EASEMENT/LANDSCAPE MAINTENANCE	22 000	
ENGINEERING/INSPECTIONS	2 500	
EROSION CONTROL SHORELINE RESTORATION PRO-ECT	122 3 0	
TOTAL MAINTENANCE EXPENDITURES	 	1 ,4 0	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	5 000	
PAYROLL TA;ES EMPLOYER 	 00	
MANAGEMENT	32 8	
SECRETARIAL	3 00	
LEGAL	10 500	
ASSESSMENT ROLL	 000	
AUDIT FEES	3 700	
INSURANCE	 00	
LEGAL ADVERTISING	750	
MISCELLANEOUS	1 300	
POSTAGE	300	
OFFICE SUPPLIES	550	
DUES SUBSCRIPTIONS	175	
TRUSTEE FEES	 2 0	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	750	
		
TOTAL ADMINISTRATIVE EXPENDITURES	 	 , 3	
		
TOTAL EXPENDITURES	 	234,1 3	
		
REVENUES LESS EXPENDITURES	 	234,333	
		
BOND PAYMENTS	 20 2 8 	
		
BALANCE	 	2 ,0 	
		
COUNTY APPRAISER TA; COLLECTOR FEE	 3 1 	
DISCOUNTS FOR EARLY PAYMENTS	 18 72 	
		
EXCESS/ S+ORTFALL 	 	-	
		
CARRYOVER FROM PRIOR YEAR	0	
		
NET EXCESS/ S+ORTFALL 	 	-	

DETAILED PROPOSED BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022
ACTUAL	
FISCAL YEAR 2022/2023
BUDGET	
FISCAL YEAR 2023/2024
BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	60,906	57,438	81,131	Expenditures Less Interest & Carryover/.94	
MAINTENANCE ASSESSMENTS	34,186	37,394	167,542	Expenditures/.94	
DEBT ASSESSMENTS	219,415	219,413	219,413	Bond Payments/.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	274	300	420	Interest ProMected At $35 Per Month	
					
TOTAL REVENUES	$	314,781	$	314,545	$	468,506		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
A4UATIC/STORMWATER MANAGEMENT	5,532	7,350	7,350	No Change From 2022/2023 Budget	
MITIGATION MAINTENANCE	875	3,300	3,300	No Change From 2022/2023 Budget	
LA.E EASEMENT/LANDSCAPE MAINTENANCE	15,610	22,000	22,000	No Change From 2022/2023 Budget	
ENGINEERING/INSPECTIONS	3,225	2,500	2,500	No Change From 2022/2023 Budget	
EROSION CONTROL SHORELINE RESTORATION PRO-ECT	0	0	122,340	Estimated Annual Amount For Twenty Year Loan	
TOTAL MAINTENANCE EXPENDITURES	$	25,242	$	35,150	$	157,490		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	1,800	5,000	5,000	No Change From 2022/2023 Budget	
PAYROLL TAXES (EMPLOYER)	137	400	400	ProMected At 8 Of Supervisor Fees	
MANAGEMENT	30,600	31,512	32,448	CPI AdMustment (Capped At 3 )	
SECRETARIAL	3,600	3,600	3,600	No Change From 2022/2023 Budget	
LEGAL	7,842	10,500	10,500	No Change From 2022/2023 Budget	
ASSESSMENT ROLL	6,000	6,000	6,000	As Per Contract	
AUDIT FEES	3,500	3,600	3,700	$100 Increase From 2022/2023 Budget	
INSURANCE	5,706	6,000	6,600	Fiscal Year 2022/2023 Expenditure Was $6,134	
LEGAL ADVERTISING	354	750	750	No Change From 2022/2023 Budget	
MISCELLANEOUS	470	1,550	1,300	$250 Decrease From 2022/2023 Budget	
POSTAGE	221	300	300	No Change From 2022/2023 Budget	
OFFICE SUPPLIES	396	600	550	$50 Decrease From 2022/2023 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2022/2023 Budget	
TRUSTEE FEES	4,256	3,500	4,260	$760 Increase From 2022/2023 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2022/2023 Budget	
WEBSITE MANAGEMENT	750	750	750	No Change From 2022/2023 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	66,157	$	74,587	$	76,683		
					
TOTAL EXPENDITURES	$	91,399	$	109,737	$	234,173		
					
REVENUES LESS EXPENDITURES	$	223,382	$	204,808	$	234,333		
					
BOND PAYMENTS	(209,170)	(206,248)	(206,248)	2024 Principal & Interest Payments	
					
BALANCE	$	14,212	$	 1,440 	$	28,085		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(3,028)	(6,285)	(9,361)	Two Percent Of Total Tax Roll	
DISCOUNTS FOR EARLY PAYMENTS	(11,648)	(12,570)	(18,724)	Four Percent Of Total Tax Roll	
					
EXCESS/ S+ORTFALL 	$	 464 	$	 20,295 	$	-		
					
CARRYOVER FROM PRIOR YEAR	0	20,295	0	Carryover From Prior Year	
					
NET EXCESS/ S+ORTFALL 	$	 464 	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2021/2022 ACTUAL	FISCAL YEAR 2022/2023 BUDGET	FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

Interest Income	
665	
15	
100	
ProMected Interest For 2023/2024	

NAV Tax Collection	
209,170	
206,248	
206,248	
Maximum DeEt Service	

Total Revenues	
$	209,835	
$	206,263	
$	206,348		

EXPENDITURES					

Principal Payments	
125,000	
125,000	
135,000	
Principal Payment Due In 2024	

Interest Payments	
81,835	
74,491	
69,206	
Interest Payments Due In 2024	

Bond Redemption	
0	
6,772	
2,142	
Estimated Excess DeEt Collections	

Total Expenditures	
$	206,835	
$	206,263	
$	206,348		

Excess/ (Shortfall)	
$	3,000	
$	-	
$	-		

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 & NovemEer 1st	
Issue Date =	May 2012			
Maturity Date =

Par Amount As Of 1/1/23 =	May 2033

$1,755,000			

Trails At Monterey Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2019/2020	2020/2021	2021/2022	2022/2023	2023/2024	
	Assessment*		  Assessment*		  Assessment*		  Assessment*		  Projected Assessment*		

Administrative	

$	138.29	

$	141.98	

$	145.46	

$	137.75	

$	

194.56	
Maintenance	$	89.64	$	85.51	$	81.99	$	89.68	$	401.79	
DeEt	$	526.17	$	526.17	$	526.17	$	526.17	$	526.17	
Total	$	754.10	$	753.66	$	753.62	$	753.60	$	1,122.52	

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

Community Information 
Total Units	417

Trails At Monterey Community Development District

Financial Report For May 2023

Trails At Monterey Community Development District
Budget vs. Actual
October 2022 through May 2023

Oct '22 - May 23	22/23 Budget	$ Over Budget	% of Budget	
Income				
363.100 · Administrative Assessments	55,866.92		57,438.00		-1,571.08		97.27%	
363.101 · Maintenance Assessments	36,252.51		37,394.00		-1,141.49		96.95%	
363.810 · Debt Assessments	212,700.44		219,413.00		-6,712.56		96.94%	
363.820 · Debt Assessment-Paid To Trustee	-202,573.20		-206,248.00		3,674.80		98.22%	
363.830 · Assessment Fees	-2,930.63		-6,285.00		3,354.37		46.63%	
363.831 · Assessment Discounts	-11,574.58		-12,570.00		995.42		92.08%	
369.401 · Interest Income	3,842.77		300.00		3,542.77		1,280.92%	
369.402 · Carryover From Prior Year	0.00		20,295.00		-20,295.00		0.0%	
Total Income	91,584.23		109,737.00		-18,152.77		83.46%	
Gross Profit	91,584.23		109,737.00		-18,152.77		83.46%	
Expense								
511. · Professional Fees								
511.310 · Engineering	11,337.97		2,500.00		8,837.97		453.52%	
511.315 · Legal Fees	4,215.00		10,500.00		-6,285.00		40.14%	
511.320 · Audit Fees	3,500.00		3,600.00		-100.00		97.22%	
Total 511. · Professional Fees	19,052.97		16,600.00		2,452.97		114.78%	
511.122 · Payroll Tax Expense	153.00		400.00		-247.00		38.25%	
511.131 · Supervisor Fee	2,000.00		5,000.00		-3,000.00		40.0%	
511.301 · Aquatic/Stormwater Management	4,160.00		7,350.00		-3,190.00		56.6%	
511.302 · Mitigation Maintenance	0.00		3,300.00		-3,300.00		0.0%	
511.303 · Lake Easement/Landscaping	9,600.00		22,000.00		-12,400.00		43.64%	
511.311 · Management Fees	21,008.00		31,512.00		-10,504.00		66.67%	
511.312 · Secretarial Fees	2,400.00		3,600.00		-1,200.00		66.67%	
511.314 · Website Management	500.00		750.00		-250.00		66.67%	
511.318 · Assessment/Tax Roll	0.00		6,000.00		-6,000.00		0.0%	
511.450 · Insurance	6,134.00		6,000.00		134.00		102.23%	
511.480 · Legal Advertisements	101.58		750.00		-648.42		13.54%	
511.512 · Miscellaneous	460.18		1,550.00		-1,089.82		29.69%	
511.513 · Postage and Delivery	172.38		300.00		-127.62		57.46%	
511.514 · Office Supplies	286.65		600.00		-313.35		47.78%	
511.515 · Miscellaneous Maintenance	600.00		0.00		600.00		100.0%	
511.540 · Dues, License & Subscriptions	175.00		175.00		0.00		100.0%	
511.733 · Trustee Fees	0.00		3,500.00		-3,500.00		0.0%	
511.734 · Continuing Disclosure Fee	0.00		350.00		-350.00		0.0%	
Total Expense	66,803.76		109,737.00		-42,933.24		60.88%	
1et Income	24,780.47		0.00		24,780.47		100.0%	

TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT MONTHLY FINANCIAL REPORT
MAY 2023

REVENUES	
Annual Budget
10/1/22 - 9/30/23	
Actual May-23	Year To Date Actual
10/1/22 - 5/31/23	
ADMINISTRATIVE ASSESSMENTS	57,438	0	55,867	
MAINTENANCE ASSESSMENTS	37,394	0	36,253	
DEBT ASSESSMENTS	219,413	0	212,700	
OTHER REVENUES	0	0	0	
INTEREST INCOME	300	0	3,843	
				
Total Revenues	$	314,545	$	-	$	308,663	
				
EXPENDITURES				
MAINTENANCE EXPENDITURES				
A4UATIC STORMWATER MANAGEMENT	7,350	520	4,160	
MITIGATION MAINTENANCE	3,300	0	0	
LA.E EASEMENT LANDSCAPE MAINTENANCE	22,000	1,200	9,600	
ENGINEERING INSPECTIONS	2,500	0	11,338	
MISCELLANEOUS MAINTENANCE	0	0	600	
TOTAL MAINTENANCE EXPENDITURES	$	35,150	$	1,720	$	25,698	
				
ADMINISTRATIVE EXPENDITURES				
SUPERVISOR FEES	5,000	1,200	2,000	
PAYROLL TA;ES EMPLOYER 	400	92	153	
MANAGEMENT	31,512	2,626	21,008	
SECRETARIAL	3,600	300	2,400	
LEGAL	10,500	0	4,215	
ASSESSMENT ROLL	6,000	0	0	
AUDIT FEES	3,600	0	3,500	
INSURANCE	6,000	0	6,134	
LEGAL ADVERTISING	750	0	102	
MISCELLANEOUS	1,550	157	460	
POSTAGE	300	43	172	
OFFICE SUPPLIES	600	61	287	
DUES  SUBSCRIPTIONS	175	0	175	
TRUSTEE FEES	3,500	0	0	
CONTINUING DISCLOSURE FEE	350	0	0	
WEBSITE MANAGEMENT	750	62	500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	74,587	$	4,541	$	41,106	
				
TOTAL EXPENDITURES	$	109,737	$	6,261	$	66,804	
				
REVENUES LESS EXPENDITURES	$	204,808	$	 6,261 	$	241,859	
				
BOND PAYMENTS	 206,248 	-	 202,573 	
				
BALANCE	$	 1,440 	$	 6,261 	$	39,286	
				
COUNTY APPRAISER  TA; COLLECTOR FEE	 6,285 	0	 2,931 	
DISCOUNTS FOR EARLY PAYMENTS	 12,570 	0	 11,575 	
				
EXCESS/ SHORTFALL 	$	 20,295 	$	 6,261 	$	24,780	
				
CARRYOVER FROM PRIOR YEAR	20,295	0	0	
				
NET EXCESS/ SHORTFALL 	$	-	$	 6,261 	$	24,780	

Bank Balance As Of 5/31/23	$	255,835.60	
Accounts Payable As Of 5/31/23	$	10,097.27	
Accounts Receivable As Of 5/31/23	$	-	
Available Funds As Of 5/31/23	$	245,738.33	

Trails At Monterey Community Development District Check Register
April 2023 - May 2023

Check #	Date	Vendor	Amount	
4-1	4/4/2023	Allstate Resource Management, Inc.	520.00	
4-2	4/4/2023	Alvarez Engineers, Inc.	842.97	
4-3	4/4/2023	Billing, Cochran, Lyles, Mauro & Ramsey	1,525.00	
4-4	4/4/2023	Modern Image Landscape & Design	1,200.00	
4-5	4/4/2023	Special District Services, Inc.	3,167.22	
4-6	4/4/2023	U.S. Bank {Tax Receipts)	3,094.20	

5-1	
5/2/2023	
Allstate Resource Management, Inc.	
520.00	
5-2	5/2/2023	Alvarez Engineers, Inc.	125.00	
5-3	5/2/2023	Billing, Cochran, Lyles, Mauro & Ramsey	1,305.00	
5-4	5/2/2023	Grau & Associates	3,500.00	
5-5	5/2/2023	Landshore Enterprises	7,000.00	
5-6	5/2/2023	Modern Image Landscape & Design	1,200.00	
5-7	5/2/2023	Special District Services, Inc.		3,111.77		
TOTAL			27,111.16	

TRAILS AT MONTEREY CDD TAX COLLECTIONS
2022-2023

 	

ID 	

PAYMENT FROM	

DATE	

FOR	

Tax Collect Receipts	

Interest Received	

Commissions Paid	

Discount	

Net From Tax Collector	Admin.
Assessment Income (Before Discounts & Fee 	Maint Assessment Income (Before Discounts & Fee 	Debt Assessment Income (Before Discounts & Fee 	Admin.
Assessment Income (After Discounts & Fee 	Maint Assessment Income (After Discounts & Fee 	Debt Assessment Income (After Discounts & Fee 	

Debt Assessments Paid to Trustee	
									$314,245.00	$57,438.00	$37,394.00	$  219,413.00	$57,438.00	$37,394.00	$  219,413.00		
									$295,390.00	$53,992.00	$35,150.00	$  206,248.00	$53,992.00	$35,150.00	$  206,248.00	206,248.00	
1	1	Miami-Dade Tax Collector	11/23/22	NAV Taxes	$	30,406.03		$	(291.49)	$	(1,257.08)	$	28,857.46	$	5,558.18	$	3,618.35	$	21,229.50	$	5,275.01	$	3,434.10	$	20,148.35	$	20,148.35	
2	2	Miami-Dade Tax Collector	11/25/22	NAV Taxes	$	17,332.80		$	(166.40)	$	(693.22)	$	16,473.18	$	3,168.25	$	2,062.64	$	12,101.91	$	3,011.08	$	1,960.35	$	11,501.75	$	11,501.75	
3	3	Miami-Dade Tax Collector	12/07/22	NAV Taxes	$  214,776.00		$	(2,061.85)	$	(8,590.17)	$  204,123.98	$	39,258.75	$	25,558.80	$  149,958.45	$	37,311.48	$	24,291.25	$  142,521.25	$  142,521.25	
4	4	Miami-Dade Tax Collector	12/22/22	NAV Taxes	$	11,304.00		$	(109.06)	$	(399.40)	$	10,795.54	$	2,066.25	$	1,345.20	$	7,892.55	$	1,973.24	$	1,284.70	$	7,537.60	$	7,537.60	
5	5	Miami-Dade Tax Collector	01/11/23	NAV Taxes	$	13,620.57		$	(131.51)	$	(468.91)	$	13,020.15	$	2,489.82	$	1,620.85	$	9,509.90	$	2,380.00	$	1,549.40	$	9,090.75	$	9,090.75	
6	6	Miami-Dade Tax Collector	02/09/23	NAV Taxes	$	6,028.80		$	(59.08)	$	(120.56)	$	5,849.16	$	1,102.00	$	717.44	$	4,209.36	$	1,069.11	$	696.10	$	4,083.95	$	4,083.95	
7	Int - 1	Miami-Dade Tax Collector	02/13/23	Interest		$	181.94			$	181.94	$	181.94			$	181.94			$	-	
8	7	Miami-Dade Tax Collector	03/08/23	NAV Taxes	$	4,521.60		$	(44.76)	$	(45.24)	$	4,431.60	$	826.50	$	538.08	$	3,157.02	$	810.00	$	527.40	$	3,094.20	$	3,094.20	
9	8	Miami-Dade Tax Collector	04/07/23	NAV Taxes	$	6,648.13		$	(66.48)		$	6,581.65	$	1,215.23	$	791.15	$	4,641.75	$	1,203.05	$	783.25	$	4,595.35	$	4,595.35	
10									$	-							$	-	
11									$	-							$	-	
12									$	-							$	-	
13									$	-							$	-	
14									$	-							$	-	
15									$	-							$	-	
					
$  304,637.93	
$  181.94	
$  (2,930.63)	
$  (11,574.58)	
$ 290,314.66	
$  55,866.92	
$  36,252.51	
$  212,700.44	
$  53,214.91	
$  34,526.55	
$  202,573.20	
$ 202,573.20	

Assessment Roll = $314,251.20	Note: $314,245, $57,438, $37,394 and $219,413 are 2022/2023 Budgeted assessments before discounts and fees.
$295,390, $53,992, $35,150 and $206,248 are 2022/2023 Budgeted assessments after discounts and fees.

$  304,637.93		
$	181.94	$  290,314.66	
$  (55,866.92)	$  (53,214.91)	
$  (36,252.51)	$  (34,526.55)	
$ (212,700.44)	$ (202,573.20)	
$	-	$	-