Monterey/Congress Community Development District

Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
MONTEREY/CONGRESS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021
BUDGET	
O & M Assessments	72,503	
Debt Assessments	286,303	
Other Revenues	0	
Interest Income	180	
		
TOTAL REVENUES	$	358,986	
		
EXPENDITURES		
Supervisor Fees	6,000	
Payroll Taxes (Employer)	480	
Engineering/Inspections	3,000	
Management	20,916	
Secretarial	3,000	
Legal	7,000	
Assessment Roll	3,000	
Audit Fees	3,200	
Insurance	6,000	
Legal Advertisements	1,250	
Miscellaneous	750	
Postage	225	
Office Supplies	400	
Dues & Subscriptions	175	
Trustee Fee	4,100	
Continuing Disclosure Fee	1,000	
Website Management	2,000	
Landscape Lighting Maintenance	0	
Reserve	5,837	
		
TOTAL EXPENDITURES	$	68,333	
		
REVENUES LESS EXPENDITURES	$	290,653	
		
Bond Payments	(269,125)	
		
BALANCE	$	21,528	
		
County Appraiser & Tax Collector Fee	(7,176)	
Discounts For Early Payments	(14,352)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

5/22/2020 8:00 AM	I

DETAILED FINAL BUDGET
MONTEREY/CONGRESS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	

FISCAL YEAR 2018/2019
ACTUAL	

FISCAL YEAR 2019/2020
BUDGET	

FISCAL YEAR 2020/2021
BUDGET	

COMMENTS	
O & M Assessments	74,026	76,556	72,503	Expenditures Less Interest & Carryover/.94	
Debt Assessments	286,027	283,205	286,303	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	247	180	180	Interest Projected At $15 Per Month	
					
TOTAL REVENUES	$	360,300	$	359,941	$	358,986		
					
EXPENDITURES					
Supervisor Fees	4,000	6,000	6,000	Supervisor Fees	
Payroll Taxes (Employer)	381	480	480	Projected At 8% Of Supervisor Fees	
Engineering/Inspections	1,000	3,000	3,000	No Change From 2019/2020 Budget	
Management	20,076	20,448	20,916	CPI Adjustment	
Secretarial	3,000	3,000	3,000	No Change From 2019/2020 Budget	
Legal	5,291	7,000	7,000	No Change From 2019/2020 Budget	
Assessment Roll	3,000	3,000	3,000	No Change From 2019/2020 Budget	
Audit Fees	3,100	3,300	3,200	Accepted Amount For 2020/2021 Audit	
Insurance	5,000	6,356	6,000	Insurance Estimate	
Legal Advertisements	1,187	1,250	1,250	No Change From 2019/2020 Budget	
Miscellaneous	520	750	750	No Change From 2019/2020 Budget	
Postage	87	250	225	$25 Decrease From 2019/2020 Budget	
Office Supplies	328	400	400	No Change From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fee	4,089	4,100	4,100	No Change From 2019/2020 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2019/2020 Budget	
Website Management	1,500	2,000	2,000	No Change From 2019/2020 Budget	
Landscape Lighting Maintenance	25,237	1,000	0	Line Item Eliminated	
Reserve	0	8,634	5,837	Reserve	
					
TOTAL EXPENDITURES	$	78,971	$	72,143	$	68,333		
					
REVENUES LESS EXPENDITURES	$	281,329	$	287,798	$	290,653		
					
Bond Payments	(273,059)	(266,213)	(269,125)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	8,270	$	21,585	$	21,528		
					
County Appraiser & Tax Collector Fee	(2,144)	(7,195)	(7,176)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(13,295)	(14,390)	(14,352)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(7,169)	$	-	$	-		
					
Carryover From Prior Year	0	0	0	Carryover From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	(7,169)	$	-	$	-		

5/22/2020 8:00 AM	II

DETAILED FINAL DEBT SERVICE BUDGET
MONTEREY/CONGRESS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2019/2020 BUDGET	FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	

Interest Income	
7,014	
200	
300	
Projected Interest For 2020/2021	

NAV Tax Collection	
273,059	
266,213	
269,125	
2021 P & I Payments Less Earned Interest	

Prepaid Bond Collection	
9,883	
0	
0		

Total Revenues	
$	289,956	
$	266,413	
$	269,425		

EXPENDITURES					

Principal Payments	
105,000	
110,000	
120,000	
Principal Payment Due In 2021	

Interest Payments	
165,416	
156,413	
149,425	
Interest Payments Due In 2021	

Extraordinary Principal Payments	
15,000	
0	
0		

Total Expenditures	
$	285,416	
$	266,413	
$	269,425		

Excess/ (Shortfall)	
$	4,540	
$	-	
$	-		

Series 2005 Bond Information

Original Par Amount =	$4,045,000	Annual Principal Payments Due =	May 1st	
Interest Rate = Issue Date = Maturity Date =	5.375%
October 2005
May 2036	Annual Interest Payments Due =	May 1st & November 1st	

Par Amount As Of 1/1/20 =	
$2,950,000			

5/22/2020 8:00 AM	III

Monterey/Congress Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2016/2017	2017/2018	2018/2019	2019/2020	2020/2021	
   Assessment* 	   Assessment* 	   Assessment* 	   Assessment* 	   Projected Assessment* 	

O & M	
$	237.99	
$	244.56	
$	246.37	
$	255.20	
$	241.68	
Debt	$	961.23	$	954.66	$	952.85	$	944.02	$	957.54	
Total	$	1,199.22	$	1,199.22	$	1,199.22	$	1,199.22	$	1,199.22	

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

Community Information:		 Total Units	300
Prepayments		1 Billed for Debt	299

5/22/2020 8:00 AM	IV