Monterey/Congress Community Development District

Proposed Budget For Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
MONTEREY/CONGRESS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
O & M Assessments	75,325	
Debt Assessments	283,481	
Other Revenues	0	
Interest Income	180	
		
TOTAL REVENUES	$	358,986	
		
EXPENDITURES		
Supervisor Fees	6,000	
Payroll Taxes (Employer)	480	
Engineering/Inspections	2,000	
Management	21,204	
Secretarial	3,000	
Legal	7,000	
Assessment Roll	3,000	
Audit Fees	3,200	
Insurance	6,000	
Legal Advertisements	1,250	
Miscellaneous	750	
Postage	200	
Office Supplies	375	
Dues & Subscriptions	175	
Trustee Fee	4,100	
Continuing Disclosure Fee	1,000	
Website Management	2,000	
Landscape Lighting Maintenance	0	
Reserve	9,252	
		
TOTAL EXPENDITURES	$	70,986	
		
REVENUES LESS EXPENDITURES	$	288,000	
		
Bond Payments	(266,472)	
		
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)	$	-	

2/19/2021 4:36 PM	I

DETAILED PROPOSED BUDGET
MONTEREY/CONGRESS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	

FISCAL YEAR 2019/2020
ACTUAL	

FISCAL YEAR 2020/2021
BUDGET	

FISCAL YEAR 2021/2022
BUDGET	

COMMENTS	
O & M Assessments	76,677	72,503	75,325	Expenditures Less Interest & Carryover/.94	
Debt Assessments	282,432	286,303	283,481	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	362	180	180	Interest Projected At $15 Per Month	
					
TOTAL REVENUES	$	359,471	$	358,986	$	358,986		
					
EXPENDITURES					
Supervisor Fees	3,000	6,000	6,000	Supervisor Fees	
Payroll Taxes (Employer)	230	480	480	Projected At 8% Of Supervisor Fees	
Engineering/Inspections	1,200	3,000	2,000	$1,000 Decrease From 2020/2021 Budget	
Management	20,448	20,916	21,204	CPI Adjustment	
Secretarial	3,000	3,000	3,000	No Change From 2020/2021 Budget	
Legal	6,064	7,000	7,000	No Change From 2020/2021 Budget	
Assessment Roll	3,000	3,000	3,000	No Change From 2020/2021 Budget	
Audit Fees	3,100	3,200	3,200	Accepted Amount For 2020/2021 Audit	
Insurance	5,251	6,000	6,000	Insurance Estimate	
Legal Advertisements	1,424	1,250	1,250	No Change From 2020/2021 Budget	
Miscellaneous	621	750	750	No Change From 2020/2021 Budget	
Postage	77	225	200	$25 Decrease From 2020/2021 Budget	
Office Supplies	155	400	375	$25 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fee	4,089	4,100	4,100	No Change From 2020/2021 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2020/2021 Budget	
Website Management	2,000	2,000	2,000	No Change From 2020/2021 Budget	
Landscape Lighting Maintenance	655	0	0	Fiscal Year 2019/2020 Expenditure	
Reserve	900	5,837	9,252	Reserve	
					
TOTAL EXPENDITURES	$	56,389	$	68,333	$	70,986		
					
REVENUES LESS EXPENDITURES	$	303,082	$	290,653	$	288,000		
					
Bond Payments	(269,249)	(269,125)	(266,472)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	33,833	$	21,528	$	21,528		
					
County Appraiser & Tax Collector Fee	(2,164)	(7,176)	(7,176)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(13,371)	(14,352)	(14,352)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	18,298	$	-	$	-		
					
Carryover From Prior Year	0	0	0	Carryover From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	18,298	$	-	$	-		

2/19/2021 4:36 PM	II

DETAILED PROPOSED DEBT SERVICE BUDGET
MONTEREY/CONGRESS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2019/2020 ACTUAL	FISCAL YEAR 2020/2021 BUDGET	FISCAL YEAR 2021/2022 BUDGET	

COMMENTS	

Interest Income	
7,014	
300	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
273,059	
269,125	
266,472	
2022 P & I Payments Less Earned Interest	

Prepaid Bond Collection	
9,883	
0	
0		

Total Revenues	
$	289,956	
$	269,425	
$	266,497		

EXPENDITURES					

Principal Payments	
135,000	
120,000	
125,000	
Principal Payment Due In 2022	

Interest Payments	
158,966	
149,425	
141,497	
Interest Payments Due In 2022	

Extraordinary Principal Payments	
15,000	
0	
0		

Total Expenditures	
$	308,966	
$	269,425	
$	266,497		

Excess/ (Shortfall)	
$	(19,010)	
$	-	
$	-		

Series 2005 Bond Information

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

Par Amount As Of 1/1/21 =	May 2036

$2,815,000			

2/19/2021 4:36 PM	III

Monterey/Congress Community Development District Assessment Comparison

Fiscal Year 2017/2018
   Assessment* 	Fiscal Year 2018/2019
   Assessment*  	Fiscal Year 2019/2020
   Assessment*  	Fiscal Year 2020/2021
   Assessment*  	Fiscal Year 2021/2022
 	Projected Assessment*		

O & M	
$	
244.56	
$	
246.37	
$	
255.20	
$	
241.68	
$	
251.11	
Debt	$	954.66	$	952.85	$	944.02	$	957.54	$	948.11	
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

2/19/2021 4:36 PM	IV