Sausalito Bay Community Development District

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

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
SAUSALITO BAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021
BUDGET	
Administrative Assessments	81,908	
Maintenance Assessments	38,989	
Debt Assessments	185,399	
Other Revenues	0	
Interest Income	300	
		
TOTAL REVENUES	$	306,596	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Aquatic Maintenance (SFH - 50)	5,400	
Aquatic Maintenance (TH - 23)	1,800	
Lawn Maintenance (SFH - 50)	22,500	
Lawn Maintenance/Lake Tracts (TH - 23)	6,000	
Lake Tract Shoreline Maintenance (SFH - 50)	900	
Lake Tract Shoreline Maintenance (TH - 23)	480	
Miscellaneous Maintenance Expenses (SFH - 50)	8,000	
Miscellaneous Maintenance Expenses (TH - 23)	750	
Misc Grounds Maintenance/Mulch/Fertilizer	4,800	
Engineering/Inspections	1,020	
Outside Janitorial Services (SFH - 50)	3,300	
Maintenance Contingency	4,000	
TOTAL MAINTENANCE EXPENDITURES	$	58,950	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	383	
Management	30,780	
Secretarial & Field Operations	6,180	
Legal	8,000	
Assessment Roll	6,000	
Audit Fees	3,600	
Insurance	6,250	
Legal Advertisements	700	
Miscellaneous	2,000	
Postage	275	
Office Supplies	500	
Dues & Subscriptions	175	
Trustee Fee	3,600	
Continuing Disclosure Fee	350	
Website Management	2,000	
Administrative Contingency	1,200	
TOTAL ADMINISTRATIVE EXPENDITURES	$	76,993	
		
TOTAL EXPENDITURES	$	135,943	
		
REVENUES LESS EXPENDITURES	$	170,653	
		
Bond Payments	(174,275)	
		
BALANCE	$	(3,622)	
		
County Appraiser & Tax Collector Fee	(6,126)	
Discounts For Early Payments	(12,252)	
		
EXCESS/ (SHORTFALL)	$	(22,000)	
		
Carryover From Prior Year	22,000	
		
NET EXCESS/ (SHORTFALL)	$	-	

2/23/2020 1:58 PM	I

DETAILED PROPOSED BUDGET
SAUSALITO BAY 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	
Administrative Assessments	79,431	81,366	81,908	Expenditures/.94	
Maintenance Assessments	43,053	36,926	38,989	Expenditures Less Interest & Carryover/.94	
Debt Assessments	186,982	189,202	185,399	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	485	240	300	Interest Projected At $25 Per Month	
					
TOTAL REVENUES	$	309,951	$	307,734	$	306,596		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Aquatic Maintenance (SFH - 50)	5,660	5,400	5,400	No Change From 2019/2020 Budget	
Aquatic Maintenance (TH - 23)	460	1,800	1,800	No Change From 2019/2020 Budget	
Lawn Maintenance (SFH - 50)	20,063	22,500	22,500	No Change From 2019/2020 Budget	
Lawn Maintenance/Lake Tracts (TH - 23)	5,754	6,000	6,000	No Change From 2019/2020 Budget	
Lake Tract Shoreline Maintenance (SFH - 50)	350	900	900	No Change From 2019/2020 Budget	
Lake Tract Shoreline Maintenance (TH - 23)	0	480	480	No Change From 2019/2020 Budget	
Miscellaneous Maintenance Expenses (SFH - 50)	795	8,000	8,000	No Change From 2019/2020 Budget	
Miscellaneous Maintenance Expenses (TH - 23)	0	750	750	No Change From 2019/2020 Budget	
Misc Grounds Maintenance/Mulch/Fertilizer	2,536	4,800	4,800	No Change From 2019/2020 Budget	
Engineering/Inspections	1,680	1,020	1,020	No Change From 2019/2020 Budget	
Outside Janitorial Services (SFH - 50)	0	3,300	3,300	No Change From 2019/2020 Budget	
Maintenance Contingency	16,938	4,000	4,000	No Change From 2019/2020 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	54,236	$	58,950	$	58,950		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	3,000	5,000	5,000	Supervisor Fees	
Payroll Taxes (Employer)	305	383	383	Supervisor Fees *7.65%	
Management	29,544	30,096	30,780	CPI Adjustment	
Secretarial & Field Operations	5,700	6,180	6,180	No Change From 2019/2020 Budget	
Legal	6,952	8,000	8,000	No Change From 2019/2020 Budget	
Assessment Roll	6,000	6,000	6,000	No Change From 2019/2020 Budget	
Audit Fees	3,400	3,500	3,600	Accepted Amount For 2019/2020 Audit	
Insurance	5,000	6,500	6,250	Insurance Estimate	
Legal Advertisements	462	700	700	No Change From 2019/2020 Budget	
Miscellaneous	1,203	2,000	2,000	No Change From 2019/2020 Budget	
Postage	121	300	275	$25 Decrease From 2019/2020 Budget	
Office Supplies	459	500	500	No Change From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fee	3,548	3,600	3,600	No Change From 2019/2020 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2019/2020 Budget	
Website Management	1,500	2,000	2,000	No Change From 2019/2020 Budget	
Administrative Contingency	0	1,200	1,200	Administrative Contingency	
TOTAL ADMINISTRATIVE EXPENDITURES	$	67,719	$	76,484	$	76,993		
					
TOTAL EXPENDITURES	$	121,955	$	135,434	$	135,943		
					
REVENUES LESS EXPENDITURES	$	187,996	$	172,300	$	170,653		
					
Bond Payments	(178,658)	(177,850)	(174,275)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	9,338	$	(5,550)	$	(3,622)		
					
County Appraiser & Tax Collector Fee	(2,985)	(6,150)	(6,126)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(10,765)	(12,300)	(12,252)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(4,412)	$	(24,000)	$	(22,000)		
					
Carryover From Prior Year	0	24,000	22,000	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(4,412)	$	-	$	-		

2/23/2020 1:58 PM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
SAUSALITO BAY 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	
3,425	
200	
200	
Projected Interest For FY 2020/2021	

NAV Tax Collection	
178,658	
177,850	
174,475	
2021 P & I Payments Less Earned Interest	

Total Revenues	
$	182,083	
$	178,050	
$	174,675		

EXPENDITURES					

Principal Payments	
90,000	
100,000	
100,000	
Principal Payment Due In 2021	

Interest Payments	
82,025	
78,050	
74,675	
Interest Payments Due In 2021	

Total Expenditures	
$	172,025	
$	178,050	
$	174,675		

Excess/ (Shortfall)	
$	10,058	
$	-	
$	-		

Series 2013 Bond Refunding Information
Original Par Amount =	$2,595,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	1.375% - 4.00%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	March 2013			
Maturity Date =

Par Amount As Of 1/1/20 =	May 2035

$2,055,000			

2/23/2020 1:58 PM	III

Sausalito Bay Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2017/2018	2018/2019	2019/2020	2020/2021	
Assessment	Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative Assessment For Lot Size 23	
$	-	$	180.12	
$	183.64	
$	189.66	
$	
190.93	
Maintenance Assessment For Lot Size 23	$	-	$	43.52	$	44.39	$	33.54	$	35.39	
Debt For Lot Size 23	$	-		$	381.21	$	375.96	$	380.43	$	372.78	
Total	$	625.00	$	604.85	$	603.99	$	603.63	$	599.10	

Administrative Assessment For Lot Size 50	$	-	$	180.12	$	183.64	$	189.66	$	190.93	
Maintenance Assessment For Lot Size 50	$	-	$	149.57	$	151.10	$	133.72	$	141.20	
Debt For Lot Size 50	$	-		$	496.99	$	490.15	$	495.98	$	486.01	
Total	$	750.00	$	826.68	$	824.89	$	819.36	$	818.14	

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

Community Information:

Twenty Three Foot Lots	204
Fifty Foot Lots	225
Total Units	429

2/23/2020 1:58 PM	IV