Sausalito Bay Community Development District

Final Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
SAUSALITO BAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019
BUDGET	
Administrative Assessments	78,779	
Maintenance Assessments	43,053	
Debt Assessments	186,982	
Other Revenues	0	
Interest Income	180	
		
TOTAL REVENUES	$	308,994	
		
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)	1,800	
Miscellaneous Maintenance Expenses (TH - 23)	750	
Misc Grounds Maintenance/Mulch/Fertilizer	5,000	
Engineering/Inspections	1,020	
Outside Janitorial Services (SFH - 50)	3,300	
Contingency	5,200	
TOTAL MAINTENANCE EXPENDITURES	$	54,150	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	383	
Management	29,544	
Secretarial & Field Operations	5,700	
Legal	8,000	
Assessment Roll	6,000	
Audit Fees	3,800	
Insurance	6,500	
Legal Advertisements	700	
Miscellaneous	2,000	
Postage	300	
Office Supplies	500	
Dues & Subscriptions	175	
Trustee Fee	3,600	
Continuing Disclosure Fee	350	
Website Management	1,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	74,052	
		
TOTAL EXPENDITURES	$	128,202	
		
REVENUES LESS EXPENDITURES	$	180,792	
		
Bond Payments	(175,763)	
		
BALANCE	$	5,029	
		
County Appraiser & Tax Collector Fee	(6,176)	
Discounts For Early Payments	(12,353)	
		
EXCESS/ (SHORTFALL)	$	(13,500)	
		
Carryover From Prior Year	13,500	
		
NET EXCESS/ (SHORTFALL)	$	-	

5/27/2018 6:29 PM	I

DETAILED FINAL BUDGET
SAUSALITO BAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2016/2017
ACTUAL	FISCAL YEAR 2017/2018
BUDGET	FISCAL YEAR 2018/2019
BUDGET	

COMMENTS	
Administrative Assessments	77,564	77,273	78,779	Expenditures/.94	
Maintenance Assessments	50,268	42,532	43,053	Expenditures Less Interest & Carryover/.94	
Debt Assessments	186,549	189,588	186,982	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	454	120	180	Interest Projected At $15 Per Month	
					
TOTAL REVENUES	$	314,835	$	309,513	$	308,994		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Aquatic Maintenance (SFH - 50)	4,740	5,400	5,400	No Change From 2017/2018 Budget	
Aquatic Maintenance (TH - 23)	1,380	1,800	1,800	No Change From 2017/2018 Budget	
Lawn Maintenance (SFH - 50)	18,132	21,900	22,500	$600 Increase From 2017/2018 Budget	
Lawn Maintenance/Lake Tracts (TH - 23)	4,080	5,580	6,000	$420 Increase From 2017/2018 Budget	
Lake Tract Shoreline Maintenance (SFH - 50)	800	1,200	900	$300 Decrease From 2017/2018 Budget	
Lake Tract Shoreline Maintenance (TH - 23)	800	600	480	$120 Decrease From 2017/2018 Budget	
Miscellaneous Maintenance Expenses (SFH - 50)	1,225	1,500	1,800	$300 Increase From 2017/2018 Budget	
Miscellaneous Maintenance Expenses (TH - 23)	0	1,200	750	$450 Decrease From 2017/2018 Budget	
Misc Grounds Maintenance/Mulch/Fertilizer	0	4,800	5,000	$200 Increase From 2017/2018 Budget	
Engineering/Inspections	850	1,020	1,020	No Change From 2017/2018 Budget	
Outside Janitorial Services (SFH - 50)	0	4,800	3,300	$1,500 Decrease From 2017/2018 Budget	
Contingency	0	4,800	5,200	$400 Increase From 2017/2018 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	32,007	$	54,600	$	54,150		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	3,000	5,000	5,000	Supervisor Fees	
Payroll Taxes (Employer)	230	383	383	Supervisor Fees *7.65%	
Management	28,356	28,944	29,544	CPI Adjustment	
Secretarial & Field Operations	5,100	5,400	5,700	$300 Increase From 2017/2018 Budget	
Legal	5,698	8,000	8,000	No Change From 2017/2018 Budget	
Assessment Roll	6,000	6,000	6,000	No Change From 2017/2018 Budget	
Audit Fees	3,700	3,700	3,800	$100 Increase From 2017/2018 Budget	
Insurance	5,778	6,355	6,500	Insurance Estimate	
Legal Advertisements	396	700	700	No Change From 2017/2018 Budget	
Miscellaneous	762	1,680	2,000	$320 Increase From 2017/2018 Budget	
Postage	92	300	300	No Change From 2017/2018 Budget	
Office Supplies	218	500	500	No Change From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fee	3,225	3,500	3,600	Trustee (US Bank) Increasing Fees In 2018/2019	
Continuing Disclosure Fee	350	500	350	$150 Decrease From 2017/2018 Budget	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	64,580	$	72,637	$	74,052		
					
TOTAL EXPENDITURES	$	96,587	$	127,237	$	128,202		
					
REVENUES LESS EXPENDITURES	$	218,248	$	182,276	$	180,792		
					
Bond Payments	(178,378)	(178,213)	(175,763)	2019 P & I Payments Less Earned Interest	
					
BALANCE	$	39,870	$	4,063	$	5,029		
					
County Appraiser & Tax Collector Fee	(3,032)	(6,188)	(6,176)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(11,092)	(12,375)	(12,353)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	25,746	$	(14,500)	$	(13,500)		
					
Carryover From Prior Year	0	14,500	13,500	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	25,746	$	-	$	-		

5/27/2018 6:29 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
SAUSALITO BAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2016/2017 ACTUAL	FISCAL YEAR 2017/2018 BUDGET	FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	

Interest Income	
460	
0	
25	
Projected Interest For FY 2018/2019	

NAV Tax Collection	
178,378	
178,213	
175,763	
2019 P & I Payments Less Earned Interest	

Total Revenues	
$	178,838	
$	178,213	
$	175,788		

EXPENDITURES					

Principal Payments	
90,000	
95,000	
95,000	
Principal Payment Due In 2019	

Interest Payments	
86,313	
83,213	
80,788	
Interest Payments Due In 2019	

Total Expenditures	
$	176,313	
$	178,213	
$	175,788		

Excess/ (Shortfall)	
$	2,525	
$	-	
$	-		

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 1/1/18 =	May 2035

$2,240,000			

5/27/2018 6:29 PM	III

Sausalito Bay Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2015/2016	2016/2017	2017/2018	2018/2019	
Assessment	Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative Assessment For Lot Size 23	
$	-	$	169.35	
$	179.94	
$	180.12	
$	
183.64	
Maintenance Assessment For Lot Size 23	$	-	$	61.06	$	50.25	$	43.52	$	44.39	
Debt For Lot Size 23	$	-		$	378.95	$	375.10	$	381.21	$	375.96	
Total	$	625.00	$	609.36	$	605.29	$	604.85	$	603.99	

Administrative Assessment For Lot Size 50	$	-	$	169.35	$	179.94	$	180.12	$	183.64	
Maintenance Assessment For Lot Size 50	$	-	$	184.12	$	177.85	$	149.57	$	151.10	
Debt For Lot Size 50	$	-		$	494.04	$	489.02	$	496.99	$	490.15	
Total	$	750.00	$	847.51	$	846.81	$	826.68	$	824.89	

* 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

5/27/2018 6:29 PM	IV