Trails At Monterey Community Development District

Final Budget For Fiscal Year 2025/2026
October 1, 2025 - September 30, 2026

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2025/2026 BUDGET	
ADMINISTRATIVE ASSESSMENTS	53,715	
MAINTENANCE ASSESSMENTS	41,117	
DEBT ASSESSMENTS	219,413	
OTHER REVENUES	0	
INTEREST INCOME	1,200	
		
TOTAL REVENUES	$	315,445	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
AQUATIC/STORMWATER MANAGEMENT	7,850	
MITIGATION MAINTENANCE	2,300	
LAKE EASEMENT/LANDSCAPE MAINTENANCE	20,000	
ENGINEERING/INSPECTIONS	5,000	
TOTAL MAINTENANCE EXPENDITURES	$	35,150	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	5,000	
PAYROLL TAXES (EMPLOYER)	400	
MANAGEMENT	34,380	
SECRETARIAL	3,600	
LEGAL	10,500	
ASSESSMENT ROLL	6,000	
AUDIT FEES	3,600	
INSURANCE	7,260	
LEGAL ADVERTISING	3,500	
MISCELLANEOUS	1,100	
POSTAGE	500	
OFFICE SUPPLIES	600	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	4,260	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	750	
		
TOTAL ADMINISTRATIVE EXPENDITURES	$	81,975	
		
TOTAL EXPENDITURES	$	117,125	
		
REVENUES LESS EXPENDITURES	$	198,320	
		
BOND PAYMENTS	(206,248)	
		
BALANCE	$	(7,928)	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(6,285)	
DISCOUNTS FOR EARLY PAYMENTS	(12,570)	
		
EXCESS/ (SHORTFALL)	$	(26,783)	
		
CARRYOVER FROM PRIOR YEAR	26,783	
		
NET EXCESS/ (SHORTFALL)	$	-	

I

DETAILED FINAL BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2023/2024
ACTUAL	
FISCAL YEAR 2024/2025
BUDGET	
FISCAL YEAR 2025/2026
BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	58,077	57,438	53,715	Expenditures Less Interest & Carryover/.94	
MAINTENANCE ASSESSMENTS	37,394	37,394	41,117	Expenditures/.94	
DEBT ASSESSMENTS	219,413	219,413	219,413	Bond Payments/.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	12,859	720	1,200	Interest Projected At $100 Per Month	
					
TOTAL REVENUES	$	327,743	$	314,965	$	315,445		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
AQUATIC/STORMWATER MANAGEMENT	8,947	7,850	7,850	No Change From 2024/2025 Budget	
MITIGATION MAINTENANCE	0	2,300	2,300	No Change From 2024/2025 Budget	
LAKE EASEMENT/LANDSCAPE MAINTENANCE	16,030	20,000	20,000	No Change From 2024/2025 Budget	
ENGINEERING/INSPECTIONS	2,395	5,000	5,000	No Change From 2024/2025 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	27,372	$	35,150	$	35,150		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	1,600	5,000	5,000	No Change From 2024/2025 Budget	
PAYROLL TAXES (EMPLOYER)	122	400	400	Projected At 8% Of Supervisor Fees	
MANAGEMENT	32,448	33,420	34,380	CPI Adjustment	
SECRETARIAL	3,600	3,600	3,600	No Change From 2024/2025 Budget	
LEGAL	9,145	10,500	10,500	No Change From 2024/2025 Budget	
ASSESSMENT ROLL	6,000	6,000	6,000	As Per Contract	
AUDIT FEES	3,400	3,500	3,600	Accepted Amount For 2024/2025 Audit	
INSURANCE	6,594	7,260	7,260	Fiscal Year 2024/2025 Expenditure Was $6,858	
LEGAL ADVERTISING	3,306	2,000	3,500	Costs Have Increased Due To Closing Of The Miami Business Review	
MISCELLANEOUS	796	1,200	1,100	$100 Decrease From 2024/2025 Budget	
POSTAGE	482	500	500	No Change From 2024/2025 Budget	
OFFICE SUPPLIES	460	600	600	Projected At 8% Of Supervisor Fees	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2024/2025 Budget	
TRUSTEE FEES	4,256	4,260	4,260	No Change From 2024/2025 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2024/2025 Budget	
WEBSITE MANAGEMENT	750	750	750	No Change From 2024/2025 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	73,484	$	79,515	$	81,975		
					
TOTAL EXPENDITURES	$	100,856	$	114,665	$	117,125		
					
REVENUES LESS EXPENDITURES	$	226,887	$	200,300	$	198,320		
					
BOND PAYMENTS	(209,254)	(206,248)	(206,248)	2026 Principal & Interest Payments	
					
BALANCE	$	17,633	$	(5,948)	$	(7,928)		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(3,030)	(6,285)	(6,285)	Two Percent Of Total Tax Roll	
DISCOUNTS FOR EARLY PAYMENTS	(11,523)	(12,570)	(12,570)	Four Percent Of Total Tax Roll	
					
EXCESS/ (SHORTFALL)	$	3,080	$	(24,803)	$	(26,783)		
					
CARRYOVER FROM PRIOR YEAR	0	24,803	26,783	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	3,080	$	-	$	-		

II

DETAILED FINAL DEBT SERVICE FUND BUDGET
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	FISCAL YEAR 2023/2024 ACTUAL	FISCAL YEAR 2024/2025 BUDGET	FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	

Interest Income	
12,650	
400	
400	
Projected Interest For 2025/2026	

NAV Tax Collection	
209,254	
206,248	
206,248	
Maximum Debt Service	

Total Revenues	
$	221,904	
$	206,648	
$	206,648		

EXPENDITURES					

Principal Payments	
135,000	
140,000	
140,000	
Principal Payment Due In 2026	

Interest Payments	
71,991	
63,518	
63,518	
Interest Payments Due In 2026	

Bond Redemption	
0	
3,130	
3,130	
Estimated Excess Debt Collections	

Total Expenditures	
$	206,991	
$	206,648	
$	206,648		

Excess/ (Shortfall)	
$	14,913	
$	-	
$	-		

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 1/1/25 =	May 2033

$1,495,000			

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Trails At Monterey Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2021/2022	2022/2023	2023/2024	2024/2025	2025/2026	
	Assessment*		  Assessment*		  Assessment*		  Assessment*		  Projected Assessment*		

Administrative	
$	145.46	
$	137.75	
$	137.75	
$	137.75	
$	
128.82	
Maintenance	$	81.99	$	89.68	$	89.68	$	89.68	$	98.61	
Debt	 $	526.17	$	526.17	$	526.17	$	526.17	$	526.17	
Total	$	753.62	$	753.60	$	753.60	$	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

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