Monterey/Congress Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

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

REVENUES	FISCAL YEAR 2020/2021 BUDGET
10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 8/31/21	
O & M Assessments	72,503	72,526	72,526	
Debt Assessments	286,303	286,304	286,304	
Other Revenues	0	0	0	
Interest Income	180	390	387	
TOTAL REVENUES	$	358,986	$	359,220	$	359,217	
				
EXPENDITURES				
Supervisor Fees	6,000	5,000	4,000	
Payroll Taxes (Employer)	480	390	306	
Engineering/Inspections	3,000	3,000	1,200	
Management	20,916	20,916	19,173	
Secretarial	3,000	3,000	2,750	
Legal	7,000	7,800	5,801	
Assessment Roll	3,000	3,000	0	
Audit Fees	3,200	3,200	3,200	
Insurance	6,000	5,513	5,513	
Legal Advertisements	1,250	1,250	991	
Miscellaneous	750	750	653	
Postage	225	100	87	
Office Supplies	400	400	229	
Dues & Subscriptions	175	175	175	
Trustee Fee	4,100	4,089	4,089	
Continuing Disclosure Fee	1,000	1,000	1,000	
Website Management	2,000	2,000	1,833	
Reserve	5,837	5,837	2,325	
TOTAL EXPENDITURES	$	68,333	$	67,420	$	53,325	
				
REVENUES LESS EXPENDITURES	$	290,653	$	291,800	$	305,892	
				
Bond Payments	(269,125)	(272,721)	(272,721)	
				
BALANCE	$	21,528	$	19,079	$	33,171	
				
County Appraiser & Tax Collector Fee	(7,176)	(4,372)	(4,372)	
Discounts For Early Payments	(14,352)	(13,570)	(13,570)	
				
EXCESS/ (SHORTFALL)	$	-	$	1,137	$	15,229	
				
Carryover From Prior Year		0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	1,137	$	15,229	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$134,535	
$1,137	
$135,672	

.

I

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

REVENUES	FISCAL YEAR 2020/2021 BUDGET 10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 8/31/21	
Interest Income	300	18	17	
NAV Tax Collection	269,125	272,721	272,721	
Bond Refunding Proceeds	0	2,631,000	0	
Total Revenues	$	269,425	$	2,903,739	$	272,738	
				
EXPENDITURES				
Principal Payments (2005)	120,000	2,805,000	120,000	
Extraordinary Principal Payments (2005)	0	25,000	25,000	
Interest Payments (2005)	149,425	211,441	151,709	
Cost Of Bond Refunding Issuance	0	184,207	0	
Total Expenditures	$	269,425	$	3,225,648	$	296,709	
				
Excess/ (Shortfall)	$	-	$	(321,909)	$	(23,971)	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$326,727	
($321,909)	
$4,818	

Notes
Interest Fund Balance = $4,818*. Revenue Fund Balance = $0*.
Interest Fund Balance To Be Used To Make 11/1/2021 Interest Payment Of $4,818
* Approximate Amounts

Series 2005 Bond Information	Refinanced On 9/29/21	
Original Par Amount =	$4,045,000	Annual Principal Payments Due:	
Interest Rate =	5.375%	May 1st	
Issue Date =	October 2005	Annual Interest Payments Due:	
Maturity Date =	May 2036	May 1st & November 1st	
Par Amount As Of 9/30/21 =	$0		

Series 2021 Bond Refunding Information	
Original Par Amount =	$2,631,000	Annual Principal Payments Due:	
Interest Rate =	2.060%	May 1st	
Issue Date =	September 2021	Annual Interest Payments Due:	
Maturity Date =	May 2036	May 1st & November 1st	
Par Amount As Of 9/30/21 =	$2,631,000		

9/21/2021 1:47 PM	II