TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT

MIAMI-DADE COUNTY REGULAR BOARD MEETING OCTOBER 15, 2024
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
REGULAR BOARD MEETING
October 15, 2024
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
August 27, 2024 Regular Board Meeting & Public Hearing Minutes	Page 2
Old Business
Staff Report, as Required
New Business
Discussion Regarding Aquatic/Mitigation Area/Debris Removal Maintenance Increase Letter	Page 9
Consider Resolution No. 2024-05 – Adopting Goals and Objectives	Page 10
Consider Resolution No. 2024-06 – Adopting a Fiscal Year 2023/2024 Amended Budget	Page 14
Consider Resolution No. 2024-07 – Adopting a Revised FY 2024/2025 Meeting Schedule	Page 19
Administrative Matters
Update: Miami-Dade County Supervisor of Elections 2024 Qualified Candidates Results
Board Member/Staff: Additional Comments/Requests
Adjourn

AFFIDAVIT OF PUBLICATION

Account #	Order Number	Identification	Order PO	Amount	Cols	Depth	
141860	595589	Print Legal Ad-IPL01957510 - IPL0195751	Trails at Monterey CDD -	$578.96	2	38 L	

Attention:

Laura J. Archer

PUBLISHED DAILY

Trails at Monterey Community Development District c/o Special District Services, Inc.
2501A Burns Road
Palm Beach Gardens, Florida 33410 LArcher@sdsinc.org

MIAMI-DADE-FLORIDA
STATE OF FLORIDA COUNTY OF MIAMI-DADE
Before the undersigned authority personally appeared: Mary Castro, who on oath says that he/she is CUSTODIAN OF RECORDS of The Miami Herald, a daily newspaper published at Miami in Miami-Dade County, Florida; that the attached copy of the advertisement that was published was published in said newspaper in the issue
(s) of:
Publication: Miami Herald 1 insertion(s) published on:
09/30/24

Affiant further says that the said Miami Herald is a newspaper published at Miami, in the said Miami-Dade County, Florida and that the said newspaper has heretofore been continuously published in said Dade County, Florida each day and has been entered a second class mail matter at the post office in Miami, in said Miami-Dade County, Florida, for a period of one year next preceding the first publication of the attached copy of advertisement; and affiant further says that he/she has neither paid or promised any person, firm or corporation any discount, rebate, commission or refund for the purpose of securing this advertisement for publication in the said newspaper(s).The McClatchy Company complies with all legal requirements for publication in chapter 50, Florida Statutes.

Sworn to and subscribed before me this 30th day of September in the year of 2024

Notary Public in and for the state of Texas, residing in Dallas County
Extra charge for lost or duplicate affidavits.

TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING & PUBLIC HEARING
AUGUST 27, 2024

NOTE: Due to a substantial number of attendees, this meeting was held in the lobby of the Kendall Executive Center located at 8785 SW 165th Avenue, Miami, Florida 33193.

CALL TO ORDER

Ms. Nguyen called the Trails at Monterey Community Development District (the “District”) Regular Board Meeting of August 27, 2024, to order at 6:34 p.m. in the lobby of the Kendall Executive Center located at 8785 SW 165th Avenue, 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 13, 2023, as part of the District’s Fiscal Year 2023/2024 Regular Meeting Schedule, as legally required.

ESTABLISH A QUORUM

Ms. Nguyen stated that the attendance of Chairman Juan Sanhueza, Vice Chairman Sebastian Hale and Supervisor Carlos Delgado constituted a quorum and it was in order to proceed with the meeting.

Staff in attendance included: District Managers Nancy Nguyen and Armando Silva of Special District Services, Inc., and General Counsel Gregory George of Billing, Cochran, Lyles, Mauro & Ramsey, P.A.

Also in attendance were: Ulises Blance, Laura Alvarez, Katherine Castineiras, Zulema Gonzalez, Alfredo Castineiras, Carmen Cachola, George Cachola, Jose Camejo, Rafael Martinez, Jose L. Perez, Jose Gomez, Celia Ruiz, Walter Romero, Anabell Albert, Jorge Maillo, Cynthia Macloughlin, Ileana Suarez, Omar Barreio, Mayje Otero, Azalea Moran Chirino, Leissy Esther Hevia, Vidalina Aguilar Garcia, Olga Nadal, Jorge Garcia Hernandez, Miguel Chavez, Martha Chavez, Carmen Cabrera, Leilani Moran Chirino and Alexis Capote.

ACCEPT BOARD MEMBER RESIGNATION (OLGA NADAL; EFF. 5/16/24)
Ms. Nguyen explained that this item was discussed during the May 23, 2024, Special Board Meeting and was not needed at this time.

CONSIDER APPOINTMENTS TO VACANT SEATS (SEAT 1; EXP. 2024 & SEAT 3; EXP. 2026)

Ms. Nguyen asked if there are any qualified persons who wish to serve on the Board of Supervisors (the “Board”). Laura Alvarez stated that she was interested in serving on the Board. Ms. Nguyen explained that she had been in communication with Ms. Alvarez, and she had confirmed that Ms. Alvarez was qualified to serve on the District Board. Ms. Nguyen asked if there were any other qualified persons interested in serving on the Board. There were no other interested persons. A discussion ensued, after which:

A MOTION was made by Mr. Delgado, seconded by Mr. Sanhueza and unanimously passed appointing Laura Alvarez to the unexpired 4-year term of office in Seat 3 and such term of office will expire in November 2026.

Ms. Nguyen, Notary Public in the State of Florida, administered the Oath of Office to Ms. Alvarez. Ms. Nguyen explained that Mr. George and she would review the duties and responsibilities as a Board Member with emphasis on the Sunshine Law, Financial Disclosure for Public Officials (2023 Form 1 must be completed electronically through the Florida Commission on Ethics Electronic Financial Disclosure Management System within thirty (30) days of appointment), and the Code of Ethics for Public Officials following the meeting.

Katherine Castineiras stated that she was also interested in serving on the Board. Ms. Castineiras confirmed that she was a qualified person.

A MOTION was made by Mr. Delgado, seconded by Mr. Hale and unanimously passed appointing Katherine Castineiras to the unexpired 4-year term of office in Seat 1 and such term of office will expire in November 2024.

Ms. Nguyen, Notary Public in the State of Florida, administered the Oath of Office to Ms. Castineiras. Ms. Nguyen explained that Mr. George and she will review the duties and responsibilities as a Board Member with emphasis on the Sunshine Law, Financial Disclosure for Public Officials (2023 Form 1 must be completed electronically through the Florida Commission on Ethics Electronic Financial Disclosure Management System within thirty (30) days of appointment), and the Code of Ethics for Public Officials following the meeting.

ADMINISTER OATH OF OFFICE AND REVIEW BOARD MEMBER DUTIES AND RESPONSIBILITIES

This item was discussed under Item E above.

ELECTION OF OFFICERS

As a result of the changes to the Board of the District, Ms. Nguyen recommended that re-election of the District’s Officers take place. She provided the following slate of names for election:
Chairperson – Juan Sanhueza
Vice Chairperson – Sebastian Hale
Secretary/Treasurer – Nancy Nguyen
Assistant Secretaries – Carlos Delgado, Laura Alvarez, Katherine Castineiras, Armando Silva and Gloria Perez

A MOTION was made by Mr. Hale, seconded by Ms. Castineiras and passed unanimously electing the District’s Officers, as listed above.

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
1.  May 23, 2024, Special Board Meeting Minutes

The minutes of the May 23, 2024, Special 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 May 23, 2024, Special Board Meeting, as presented.

OLD BUSINESS
Discussion Regarding Bond Option for Lake Bank Restoration Project (FMSbonds)

Ms. Nguyen stated that initially, the Board was seeking a 20-year bank loan to fund the lake bank restoration costs. She further explained that a bank loan was no longer an available option, as such, the Board would be presented with a bond option to fund the project. Ms. Nguyen explained that the term of the bonds was 30 years.

Ms. Nguyen introduced Dylan Schwartz of FMSbonds who joined the meeting via conference call. Mr. Schwartz introduced himself and was going over the Trails at Monterey CDD Proposed Bond Estimate schedule. Due to the difficulty of hearing Mr. Schwartz, Ms. Nguyen stated that she would go over the schedule. Ms. Nguyen thanked Mr. Schwartz for his time. Mr. Schwartz thanked everyone and disconnected from the conference call.

Ms. Nguyen stated that the lake bank repairs were projected to cost $1,400,000.

Ms. Nguyen went over the Trails at Monterey CDD Proposed Bond Estimate as follows:

Ms. Nguyen asked the Board if they had any questions regarding the Proposed Bond Estimate schedule. Ms. Alvarez stated that she does not agree with the lake bank restoration.

A MOTION was made by Ms. Alvarez, seconded by Ms. Castineiras tabling bond discussions indefinitely. The MOTION failed 2 to 3 with Messrs. Hale, Delgado and Sanhueza dissenting.

Mr. Hale explained that he would like to hear comments from the public before any decision is made on the bonds.

Ms. Nguyen asked if there were any comments from members of the public. Public comments were received from the following:

Ulises Blanco, Jose Camejo, Rafael Martinez, Zulema Gonzalez, Alfredo Castineiras, Jorge Garcia Hernandez, Celia Ruiz, Omar Barreio, Olga Nadal.

NOTE: Due to the noise disturbance to tenants of the building, the Building Manager requested that the meeting be relocated. Ms. Nguyen informed the Board that it would be in order to recess the Regular Board Meeting momentarily.

A MOTION was made by Mr. Hale, seconded by Ms. Castineiras and unanimously passed recessing the Regular Board Meeting at approximately 7:34 p.m.

NOTE: The Regular Board Meeting was moved to the portico outside of 8785 SW 165th Avenue, Suite 105, Miami, Florida 33193.

A MOTION was made by Ms. Castineiras, seconded by Ms. Alvarez and unanimously passed reconvening the Regular Board Meeting at approximately 7:40 p.m.

Public comments were received from the following:

Leilani Moran Chirino, Carmen Cabrera, Alexis Capote, Jorge Maillo, Miguel Chavez, Martha Chavez, Jose Perez.

Members of the public voiced their apprehensions regarding the increase in assessments and conveyed their concerns about incurring a debt for 30 years in addition to the current bond debt of the homeowners. Members of the public collectively urged the Board not to consider a lake bank restoration project as their belief is that it was unnecessary.

There were no further comments from the public.

The Board engaged in a discussion regarding the condition of the lake banks. The Board emphasized the importance of resident participation in District meetings. The Board consensus is that resident input is valuable and expressed their desire for residents to actively contribute to the decision-making process concerning the lake banks.

A MOTION was made by Ms. Castineiras, seconded by Ms. Alvarez and unanimously passed tabling the bond discussion.

Discussion Regarding Lake Bank Restoration Project Cost Estimates

This item was discussed under Item K1 above.

NOTE: At approximately 8:15 p.m., Ms. Nguyen recessed the Regular Meeting and simultaneously opened the Public Hearing.

PUBLIC HEARING
Proof of Publication

Ms. Nguyen presented proof of publication that notice of the Public Hearing had been published in the
Miami Herald on August 7, 2024, and August 14, 2024, as legally required.

Receive Public Comments on Fiscal Year 2024/2025 Final Budget

Ms. Nguyen opened the public comment portion of the Public Hearing to receive comments on the 2024/2025 fiscal year final budget and non-ad valorem special assessments. She presented assessment increase objection letters from Jorge Maillo and Anabell Albert, Jorge and Michele Quintana, Mildred Hernandez, Karen Gil and Francisco Touza, and Jorge Garcia Hernandez. There were no public comments from those in attendance.

Mr. Delgado stated that two engineers had confirmed the presence of erosion in certain sections of the lake banks. He further explained that while the Board has opted not to move forward with issuing bonds at this time, the issue of lake bank erosion persists and will require attention in the future.

Jorge Garcia Hernandez inquired as to why the Board had not considered addressing only the specific areas that are affected by erosion in order to reduce the repair costs. Mr. Delgado explained that this approach was the intent of the Technical Engineering Memorandum prepared by Landshore Enterprises, LLC. A discussion ensued, after which:

Mr. Delgado expressed his desire to resign from the Board.

NOTE: At approximately 8:22 p.m., Ms. Nguyen recessed the Public Hearing and simultaneously reconvened the Regular Meeting.
Ms. Nguyen stated that she was in possession of a resignation letter from Carlos Delgado with an effective date of August 27, 2024, at 8:23 p.m., and it would be in order for the Board to consider.

A MOTION was made by Mr. Hale, seconded by Ms. Castineiras and unanimously passed accepting the resignation of Carlos Delgado, effective August 27, 2024, at 8:23 p.m.

Ms. Nguyen stated that there was now a vacancy in Seat 5 which term expires in November 2024. A discussion ensued, after which:

A MOTION was made by Ms. Alvarez, seconded by Ms. Castineiras and unanimously passed appointing Jorge Garcia Hernandez to the unexpired 4-year term of office in Seat 5 and such term of office will expire in November 2024.

Ms. Nguyen, Notary Public in the State of Florida, administered the Oath of Office to Mr. Garcia Hernandez. Ms. Nguyen explained that Mr. George and she will review the duties and responsibilities as a Board member with emphasis on the Sunshine Law, Financial Disclosure for Public Officials (2023 Form 1 must be completed electronically through the Florida Commission on Ethics Electronic Financial

Disclosure Management System within thirty (30) days of appointment), and the Code of Ethics for Public Officials following the meeting.

NOTE: At approximately 8:26 p.m., Ms. Nguyen recessed the Regular Meeting and simultaneously reconvened the Public Hearing.

There being no further comments from the public, Ms. Nguyen closed the public comment portion of the Public Hearing.

Consider Resolution No. 2024-03 – Adopting a Fiscal Year 2024/2025 Final Budget

Ms. Nguyen presented Resolution No. 2024-03, entitled:

RESOLUTION NO. 2024-03

A RESOLUTION OF THE TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT ADOPTING A FISCAL YEAR 2024/2025 BUDGET.

Ms. Nguyen read the title into the record and stated that the document provides for approving and adopting the fiscal year 2024/2025 final budget and the non-ad valorem special assessment tax roll. The Board indicated that the District was not seeking bond funding, as such, the assessment increase indicated on the fiscal year 2024-2025 final budget should be removed.

A MOTION was made by Ms. Castineiras, seconded by Mr. Garcia Hernandez and unanimously passed adopting Resolution No. 2024-03, amended to reflect removing the $127,390 allocated to the Lake Bank Mitigation budget line, therefore removing the assessment increase of $325; and thereby setting the 2024/2025 final budget and non-ad valorem special assessment tax roll.

NOTE: At approximately 8:31 p.m., Ms. Nguyen closed the Public Hearing and simultaneously reconvened the Regular Meeting.

NEW BUSINESS
Consider Resolution No. 2024-04 – Adopting a Fiscal Year 2024/2025 Meeting Schedule

Ms. Nguyen presented Resolution No. 2024-04, entitled:

RESOLUTION NO. 2024-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2024/2025 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE.

Ms. Nguyen provided an explanation for the document. It was discussed that the Board will be seeking a new location for District meetings and will discuss their options during the next meeting. Availability of the Board was discussed, after which:

A MOTION was made by Mr. Hale, seconded by Ms. Castineiras and unanimously passed adopting Resolution No. 2024-04, as amended (changing the October 22, 2024, Regular Meeting date to October 15, 2024); and thereby setting the 2024/2025 regular meeting schedule and authorizing the publication of the annual meeting schedule, as required by law.

2024 Legislative Update Memorandum (BCLMR)

Mr. George informed the Board that if they had any questions regarding any of the new laws effecting special districts, they may contact his office or the District Manager.

Consider Approval of Bond Counsel Engagement Letter (Squire Patton Boggs)
This item was not needed at this time.
Consider Approval of Trustee Engagement Letter (US Bank)
This item was not needed at this time.
Consider Approval of Underwriter Engagement Letter (FMSbonds)
This item was not needed at this time.

ADMINISTRATIVE MATTERS
1.  Staff Report, as Required

There was no staff report at this time.

BOARD MEMBER/STAFF CLOSING COMMENTS

Ms. Nguyen stated that unless an emergency were to arise, the Board would not need to meet until October 15, 2024.

ADJOURNMENT

There being no further business to come before the Board, a MOTION was made by Mr. Hale, seconded by Ms. Castineiras adjourning the meeting at 8:41 p.m. The MOTION carried unanimously.

ATTESTED BY:

Secretary/Assistant Secretary	Chair/Vice Chair

Page 9

Thank you to all our customers. We appreciate the opportunity to serve your communities and municipalities. Many of you have been with us for over fifteen years.

We understand budgets are tight and with the current climate of inflation they may get even tighter. With this in mind we are only moving forward with a 3% increase for 2025. Please do not hesitate to contact us with any questions or concerns.

RESOLUTION 2024-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT ADOPTING GOALS, OBJECTIVES, AND PERFORMANCE MEASURES AND STANDARDS; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Trails at Monterey Community Development District (the “District”) is a local unit of special-purpose government created and existing under and pursuant to Chapters 189 and 190, Florida Statutes, as amended; and

WHEREAS, effective July 1, 2024, the Florida Legislature adopted House Bill 7013, codified as Chapter 2024-136, Laws of Florida (“HB 7013”) and creating Section 189.0694, Florida Statutes; and

WHEREAS, pursuant to HB 7013 and Section 189.0694, Florida Statutes, beginning October 1, 2024, the District shall establish goals and objectives for the District and create performance measures and standards to evaluate the District’s achievement of those goals and objectives; and

WHEREAS, the District Manager has prepared the attached goals, objectives, and performance measures and standards and presented them to the Board of the District; and

WHEREAS, the District’s Board of Supervisors (“Board”) finds that it is in the best interests of the District to adopt by resolution the attached goals, objectives and performance measures and standards.

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

SECTION 1. The recitals so stated are true and correct and by this reference are incorporated into and form a material part of this Resolution.
SECTION 2. The District Board of Supervisors hereby adopts the goals, objectives and performance measures and standards as provided in Exhibit A. The District Manager shall take all actions to comply with Section 189.0694, Florida Statutes, and shall prepare an annual report regarding the District’s success or failure in achieving the adopted goals and objectives for consideration by the Board of the District.

SECTION 3. If any provision of this resolution is held to be illegal or invalid, the other provisions shall remain in full force and effect.

SECTION 4. This resolution shall become effective upon its passage and shall remain in effect unless rescinded or repealed.

PASSED AND ADOPTED this 15th day of October, 2024.

ATTEST:	TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chair/Vice Chair

Exhibit A: Performance Measures/Standards and Annual Reporting

Exhibit A

Program/Activity:	District Administration
Goal:	Remain compliant with Florida Law for all district meetings

Objectives:
Notice all District regular meetings, special meetings, and public hearings.
Conduct all post-meeting activities.
District records retained in compliance with Florida Sunshine Laws.

Performance Measures:
All Meetings publicly noticed as required.
Achieved: Yes ☐ No ☐
Meeting minutes and post-meeting action completed as evidenced by District Management’s records.
Achieved: Yes ☐ No ☐
District records retained as required by law, and readily available to the public.
Achieved: Yes ☐ No ☐

Program/Activity:	District Finance
Goal:	Remain Compliant with Florida Law for all district financing activities

Objectives:
District adopted fiscal year proposed budget by June 15 and the final fiscal year budget by September 30.
District amended fiscal year budget within 60 days following the end of the fiscal year.
Process all District finance accounts receivable and payable
Support District annual financial audit activities

Performance Measures:
District adopted fiscal year proposed budget by June 15 and the final fiscal year budget by September 30.
Achieved: Yes ☐ No ☐
District amended budget within 60 days following the end of the fiscal year.
Achieved: Yes ☐ No ☐
District accounts receivable/payable processed for the year.
Achieved: Yes ☐ No ☐
“No findings” for annual financial audit (yes/no)
Achieved: Yes ☐ No ☐
If “yes” explain: 	

Program/Activity:	District Operations
Goal:	Insure, Operate and Maintain District owned Infrastructure & assets

Objectives:
Annual renewal of District insurance policy(s).
Obtain all necessary contracted services for District operations and infrastructure.
Determine all vendors are in compliance with contracts with District.

Performance Measures:
District insurance policies reviewed and in place.
Achieved: Yes ☐ No ☐
Contracted Services obtained for all District operations.
Achieved: Yes ☐ No ☐
All District contracts in compliance.
Achieved: Yes ☐ No ☐

RESOLUTION NO. 2024-06

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2023/2024 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER 189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors of the Trails at Monterey Community Development District (“District”) is empowered to provide a funding source and to impose special assessments upon the properties within the District; and,

WHEREAS, the District has prepared for consideration and approval an Amended Budget.

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

Section 1.  The Amended Budget for Fiscal Year 2023/2024 attached hereto as Exhibit “A” is hereby approved and adopted.
Section 2.  The Secretary/Assistant Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with the intent of this Resolution.

PASSED, ADOPTED and EFFECTIVE this 15th day of October 2024.

ATTEST:	TRAILS AT MONTEREY
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

Trails At Monterey Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

II	AMENDED FINAL DEBT SERVICE FUND BUDGET

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

REVENUES	FISCAL YEAR 2023/2024 BUDGET
10/1/23 • 9/30/24	AMENDED FINAL BUDGET
10/1/23 • 9/30/24	YEAR TO DATE ACTUAL
10/1/23 • 9/29/24	
ADMINISTRATIVE ASSESSMENTS	57,438	58,077	58,077	
MAINTENANCE ASSESSMENTS	37,394	37,394	37,394	
DEBT ASSESSMENTS	219,413	219,413	219,413	
OTHER REVENUES	0	0	0	
INTEREST INCOME	420	11,200	11,170	
TOTAL REVENUES	$	314,665	$	326,084	$	326,054	
				
EXPENDITURES				
MAINTENANCE EXPENDITURES				
AQUATIC/STORMWATER MANAGEMENT	7,350	11,000	8,947	
MITIGATION MAINTENANCE	3,300	1,500	0	
LAKE EASEMENT/LANDSCAPE MAINTENANCE	22,000	20,000	16,030	
ENGINEERING/INSPECTIONS	2,500	3,500	2,395	
TOTAL MAINTENANCE EXPENDITURES	$	35,150	$	36,000	$	27,372	

ADMINISTRATIVE EXPENDITURES				
SUPERVISOR FEES	5,000	1,600	1,600	
PAYROLL TAXES(EMPLOYER)	400	122	122	
MANAGEMENT	32,448	32,448	32,448	
SECRETARIAL	3,600	3,600	3,600	
LEGAL	10,500	10,500	8,745	
ASSESSMENT ROLL	6,000	6,000	6,000	
AUDIT FEES	3,700	3,400	3,400	
INSURANCE	6,600	6,594	6,594	
LEGAL ADVERTISING	750	3,800	2,727	
MISCELLANEOUS	1,300	1,300	796	
POSTAGE	300	500	482	
OFFICE SUPPLIES	550	500	460	
DUES & SUBSCRIPTIONS	175	175	175	
TRUSTEE FEES	4,260	4,256	4,256	
CONTINUING DISCLOSURE FEE	350	350	350	
WEBSITE MANAGEMENT	750	750	750	
TOTAL ADMINISTRATIVE EXPENDITURES	$	76,683	$	75,895	$	72,505	
				
TOTAL EXPENDITURES	$	111,833	$	111,895	$	99,877	
				
REVENUES LESS EXPENDITURES	$	202,832	$	214,189	$	226,177	
				
BOND PAYMENTS	/206,248)		(209,254)	/209,254)	
					
BALANCE	$	(3,416}	 $	 4,935	 $	 16,923	
					
COUNTY APPRAISER & TAX COLLECTOR FEE	/6,285)	(3,030}	/3,030)	
DISCOUNTS FOR EARLY PAYMENTS	(12,570)		(11,523)	(11,523)	
					
EXCESS/SHORTFALL	$	(22,271)	 $	 (9,618)	 $	 2,370	
					
CARRYOVER FROM PRIOR YEAR	22,271	22,271	0	
				
NET EXCESS/SHORTFALL	$	•  $	12,653	$	2,370	

FUND BALANCE AS OF 9/30/23	
FY 2023/2024 ACTIVITY	
FUND BALANCE AS OF 9/30/24	

$204,797	
($9,618)	
$195,179	

Notes
Carryover From Prior Year Of $22,271 was used to reduce Fiscal Year 2023/2024 Assessments.
$24,803 Of Fund Balance To Be Used To Reduce 2024/2025 Assessments.

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

	FISCAL YEAR	AMENDED	YEAR	
	2023/2024	FINAL	TO DATE	
	BUDGET	BUDGET	ACTUAL	
REVENUES	10/1/23 - 9/30/24	10/1/23 - 9/30/24	10/1/23 - 9/29/24	
Interest Income		100	11,800	11,660	
NAV Tax Collection		206,248	209,254	209,254	
					
Total Revenues		$	206,348	$	221,054	$	220,914	
				
EXPENDITURES				
Principal Payments	135,000	135,000
71,991
0
$	206,991

$	14,063	135,000
71,991
0
$	206,991

$	13,923	
Interest Payments		69,206			
Bond Redemption		2,142			
Total Expenditures		$	206,348			
					
Excess/ (Shortfall)		$	-			

FUND BALANCE AS OF 9/30/23	
FY 2023/2024 ACTIVITY	
FUND BALANCE AS OF 9/30/24	

$226,198	
$14,063	
$240,261	

Notes
Reserve Fund Balance = $104,165*. Revenue Fund Balance = $136,096*.
Revenue Fund Balance To Be Used To Make Interest Payment On 11-1-24 Of $33,211.
* Approximate Amounts

Series 2012 Refunding Bonds Information
Original Par Amount = Interest Rate=
Issue Date= Maturity Date=

$2,830,000 1.75% - 4.25%
May 2012
May 2033

Annual Principal Payments Due: May 1st
Annual Interest Payments Due: May 1st & November 1st

Par Amount As Of 9/30/24 =	$1,495,000

RESOLUTION NO. 2024-07

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT, ESTABLISHING A REVISED REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2024/2025 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, it is necessary for the Trails at Monterey Community Development District ("District") to establish a regular meeting schedule for fiscal year 2024/2025; and

WHEREAS, the Board of Supervisors of the District has set a regular meeting schedule, location and time for District meetings for fiscal year 2024/2025 which is attached hereto and made a part hereof as Exhibit “A”.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT, MIAMI-DADE COUNTY, FLORIDA, AS FOLLOWS:

Section 1.   The above recitals are hereby adopted.

Section 2.  The regular meeting schedule, time and location for meetings for fiscal year 2024/2025 which is attached hereto as Exhibit “A” is hereby adopted and authorized to be published.
PASSED, ADOPTED and EFFECTIVE this 15th day of October, 2024.

ATTEST:	TRAILS AT MONTEREY
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT REVISED FISCAL YEAR 2024/2025 REGULAR MEETING SCHEDULE

NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Trails at Monterey Community	Development	District	will	hold	Regular	Meetings	at	6:30	p.m.	in	the

	, on the following dates:

December 17, 2024
February 25, 2025
April 22, 2025
June 24, 2025
August 26, 2025

The purpose of the meetings is to conduct any business coming before the Board. Meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Copies of the Agendas for any of the meetings may be obtained from the District’s website www.trailsatmontereycdd.org or by contacting the District Manager at nnguyen@sdsinc.org and/or toll free at 1-877-737-4922.

From time to time one or two Supervisors may participate by telephone; therefore a speaker telephone will be present at the meeting location so that the Supervisors may be fully informed of the discussions taking place. Said meetings may be continued as found necessary to a time and place specified on the record.
If any person decides to appeal any decision made with respect to any matter considered at these meetings, 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 any of these meetings should contact the District Manager at nnguyen@sdsinc.org and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.

Meetings may be cancelled from time to time without advertised notice.

TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT

www.trailsatmontereycdd.org

PUBLISH: MIAMI HERALD	12/02/24