Monterey/Congress Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
MONTEREY/CONGRESS COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2021/2022 OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET
10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 8/31/22	
O & M Assessments	75,325	75,378	75,378	
Debt Assessments	283,481	283,570	283,570	
Other Revenues	0	0	0	
Interest Income	180	20	18	
TOTAL REVENUES	$	358,986	$	358,968	$	358,966	
				
EXPENDITURES				
Supervisor Fees	6,000	2,600	2,600	
Payroll Taxes (Employer)	480	199	199	
Engineering/Inspections	2,000	5,000	3,000	
Management	21,204	21,204	19,437	
Secretarial	3,000	3,000	2,750	
Legal	7,000	7,000	5,128	
Assessment Roll	3,000	3,000	0	
Audit Fees	3,300	3,300	3,300	
Insurance	6,000	5,706	5,706	
Legal Advertisements	1,250	1,000	603	
Miscellaneous	650	650	428	
Postage	200	175	151	
Office Supplies	375	275	242	
Dues & Subscriptions	175	175	175	
Trustee Fee	4,100	4,100	0	
Continuing Disclosure Fee	1,000	1,000	0	
Website Management	2,000	2,000	1,833	
Reserve	9,252	9,252	0	
TOTAL EXPENDITURES	$	70,986	$	69,636	$	45,552	
				
REVENUES LESS EXPENDITURES	$	288,000	$	289,332	$	313,414	
				
Bond Payments	(266,472)	(270,230)	(270,230)	
				
BALANCE	$	21,528	$	19,102	$	43,184	
				
County Appraiser & Tax Collector Fee	(7,176)	(4,338)	(4,338)	
Discounts For Early Payments	(14,352)	(13,468)	(13,468)	
				
EXCESS/ (SHORTFALL)	$	-	$	1,296	$	25,378	
				
Carryover From Prior Year		0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	1,296	$	25,378	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$141,214	
$1,296	
$142,510	

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I

AMENDED FINAL BUDGET
MONTEREY/CONGRESS COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2021/2022 OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET 10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 8/31/22	
Interest Income	25	6	6	
NAV Tax Collection	266,472	270,230	270,230	
Total Revenues	$	266,497	$	270,236	$	270,236	
				
EXPENDITURES				
Principal Payments	125,000	151,000	151,000	
Interest Payments	141,497	31,917	31,917	
Bond Redemption	0	0	0	
Total Expenditures	$	266,497	$	182,917	$	182,917	
				
Excess/ (Shortfall)	$	-	$	87,319	$	87,319	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$10,227	
$87,319	
$97,546	

Notes
Revenue Fund Balance = $97,546*.
Revenue Fund Balance to be used to make 11/1/2022 Interest Payment of $25,544. Original Budget amounts based on the amortization for the Series 2005 Bond, which was refinanced in September 2021.
* Approximate Amounts

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 =

Par Amount As Of 8/31/22 =	May 2036

$2,480,000	May 1st & November 1st	

9/21/2022 5:40 PM	II