Title: TAM Final Budget 2023-2024.xlsx
Author: JWalker

Trails At Monterey Community Development District

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

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL 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 | 57,438
MAINTENANCE ASSESSMENTS | 37,394
DEBT ASSESSMENTS | 219,413
OTHER REVENUES | 0
INTEREST INCOME | 420
TOTAL REVENUES | $	314,665
EXPENDITURES |
MAINTENANCE EXPENDITURES |
AQUATIC/STORMWATER MANAGEMENT | 7,350
MITIGATION MAINTENANCE | 3,300
LAKE EASEMENT/LANDSCAPE MAINTENANCE | 22,000
ENGINEERING/INSPECTIONS | 2,500
EROSION CONTROL SHORELINE RESTORATION PROJECT | 0
TOTAL MAINTENANCE EXPENDITURES | $	35,150
ADMINISTRATIVE EXPENDITURES |
SUPERVISOR FEES | 5,000
PAYROLL TAXES (EMPLOYER) | 400
MANAGEMENT | 32,448
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 | 4,260
CONTINUING DISCLOSURE FEE | 350
WEBSITE MANAGEMENT | 750
TOTAL ADMINISTRATIVE EXPENDITURES | $	76,683
TOTAL EXPENDITURES | $	111,833
REVENUES LESS EXPENDITURES | $	202,832
BOND PAYMENTS | (206,248)
BALANCE | $	(3,416)
COUNTY APPRAISER & TAX COLLECTOR FEE | (6,285)
DISCOUNTS FOR EARLY PAYMENTS | (12,570)
EXCESS/ (SHORTFALL) | $	(22,271)
CARRYOVER FROM PRIOR YEAR | 22,271
NET EXCESS/ (SHORTFALL) | $	-

I

DETAILED FINAL 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 | 57,438 | Expenditures Less Interest & Carryover/.94
MAINTENANCE ASSESSMENTS | 34,186 | 37,394 | 37,394 | 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 | $	314,665 |
EXPENDITURES | | | |
MAINTENANCE EXPENDITURES | | | |
AQUATIC/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
LAKE 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 | 0 |
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 | 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 | $	111,833 |
REVENUES LESS EXPENDITURES | $	223,382 | $	204,808 | $	202,832 |
BOND PAYMENTS | (209,170) | (206,248) | (206,248) | 2024 Principal & Interest Payments
BALANCE | $	14,212 | $	(1,440) | $	(3,416) |
COUNTY APPRAISER & TAX COLLECTOR FEE | (3,028) | (6,285) | (6,285) | Two Percent Of Total Tax Roll
DISCOUNTS FOR EARLY PAYMENTS | (11,648) | (12,570) | (12,570) | Four Percent Of Total Tax Roll
EXCESS/ (SHORTFALL) | $	(464) | $	(20,295) | $	(22,271) |
CARRYOVER FROM PRIOR YEAR | 0 | 20,295 | 22,271 | Carryover From Prior Year
NET EXCESS/ (SHORTFALL) | $	(464) | $	- | $	- |

8/23/2023 8:21 AM	^II

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 Debt 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 Debt 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 & November 1st
Issue Date = | May 2012 | |

Maturity Date =

Par Amount As Of 1/1/23 =

May 2033

$1,755,000

8/23/2023 8:21 AM	^III

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

8/23/2023 8:21 AM	^IV