Sausalito Bay Community Development District

Final Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
SAUSALITO BAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020
BUDGET	
Administrative Assessments	81,366	
Maintenance Assessments	36,926	
Debt Assessments	189,202	
Other Revenues	0	
Interest Income	240	
		
TOTAL REVENUES	$	307,734	
		
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	30,096	
Secretarial & Field Operations	6,180	
Legal	8,000	
Assessment Roll	6,000	
Audit Fees	3,500	
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	2,000	
Administrative Contingency	1,200	
TOTAL ADMINISTRATIVE EXPENDITURES	$	76,484	
		
TOTAL EXPENDITURES	$	135,434	
		
REVENUES LESS EXPENDITURES	$	172,300	
		
Bond Payments	(177,850)	
		
BALANCE	$	(5,550)	
		
County Appraiser & Tax Collector Fee	(6,150)	
Discounts For Early Payments	(12,300)	
		
EXCESS/ (SHORTFALL)	$	(24,000)	
		
Carryover From Prior Year	24,000	
		
NET EXCESS/ (SHORTFALL)	$	-	

5/27/2019 3:10 PM	I

DETAILED FINAL BUDGET
SAUSALITO BAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018
ACTUAL	FISCAL YEAR 2018/2019
BUDGET	FISCAL YEAR 2019/2020
BUDGET	

COMMENTS	
Administrative Assessments	77,756	78,779	81,366	Expenditures/.94	
Maintenance Assessments	42,532	43,053	36,926	Expenditures Less Interest & Carryover/.94	
Debt Assessments	189,588	186,982	189,202	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	491	180	240	Interest Projected At $20 Per Month	
					
TOTAL REVENUES	$	310,367	$	308,994	$	307,734		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Aquatic Maintenance (SFH - 50)	4,740	5,400	5,400	No Change From 2018/2019 Budget	
Aquatic Maintenance (TH - 23)	1,380	1,800	1,800	No Change From 2018/2019 Budget	
Lawn Maintenance (SFH - 50)	19,332	22,500	22,500	No Change From 2018/2019 Budget	
Lawn Maintenance/Lake Tracts (TH - 23)	5,502	6,000	6,000	No Change From 2018/2019 Budget	
Lake Tract Shoreline Maintenance (SFH - 50)	1,200	900	900	No Change From 2018/2019 Budget	
Lake Tract Shoreline Maintenance (TH - 23)	400	480	480	No Change From 2018/2019 Budget	
Miscellaneous Maintenance Expenses (SFH - 50)	0	1,800	8,000	$6,200 Increase From 2018/2019 Budget	
Miscellaneous Maintenance Expenses (TH - 23)	0	750	750	No Change From 2018/2019 Budget	
Misc Grounds Maintenance/Mulch/Fertilizer	4,074	5,000	4,800	$200 Decrease From 2018/2019 Budget	
Engineering/Inspections	850	1,020	1,020	No Change From 2018/2019 Budget	
Outside Janitorial Services (SFH - 50)	0	3,300	3,300	No Change From 2018/2019 Budget	
Maintenance Contingency	3,280	5,200	4,000	$1,200 Decrease From 2018/2019 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	40,758	$	54,150	$	58,950		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	3,000	5,000	5,000	Supervisor Fees	
Payroll Taxes (Employer)	230	383	383	Supervisor Fees *7.65%	
Management	28,944	29,544	30,096	CPI Adjustment	
Secretarial & Field Operations	5,400	5,700	6,180	$480 Increase From 2018/2019 Budget	
Legal	6,955	8,000	8,000	No Change From 2018/2019 Budget	
Assessment Roll	6,000	6,000	6,000	No Change From 2018/2019 Budget	
Audit Fees	3,700	3,800	3,500	Accepted Amount For 2018/2019 Audit	
Insurance	5,778	6,500	6,500	Insurance Estimate	
Legal Advertisements	442	700	700	No Change From 2018/2019 Budget	
Miscellaneous	1,125	2,000	2,000	No Change From 2018/2019 Budget	
Postage	138	300	300	No Change From 2018/2019 Budget	
Office Supplies	319	500	500	No Change From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fee	3,225	3,600	3,600	Trustee (US Bank) Increased Fees In 2018/2019	
Continuing Disclosure Fee	350	350	350	No Change From 2018/2019 Budget	
Website Management	1,500	1,500	2,000	$500 Increase From 2018/2019 Budget	
Administrative Contingency	0	0	1,200	Administrative Contingency	
TOTAL ADMINISTRATIVE EXPENDITURES	$	67,281	$	74,052	$	76,484		
					
TOTAL EXPENDITURES	$	108,039	$	128,202	$	135,434		
					
REVENUES LESS EXPENDITURES	$	202,328	$	180,792	$	172,300		
					
Bond Payments	(181,087)	(175,763)	(177,850)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$	21,241	$	5,029	$	(5,550)		
					
County Appraiser & Tax Collector Fee	(2,988)	(6,176)	(6,150)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(10,892)	(12,353)	(12,300)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	7,361	$	(13,500)	$	(24,000)		
					
Carryover From Prior Year	0	13,500	24,000	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	7,361	$	-	$	-		

5/27/2019 3:10 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
SAUSALITO BAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
1,767	
25	
200	
Projected Interest For FY 2019/2020	

NAV Tax Collection	
181,087	
175,763	
177,850	
2020 P & I Payments Less Earned Interest	

Total Revenues	
$	182,854	
$	175,788	
$	178,050		

EXPENDITURES					

Principal Payments	
95,000	
95,000	
100,000	
Principal Payment Due In 2020	

Interest Payments	
84,400	
80,788	
78,050	
Interest Payments Due In 2020	

Total Expenditures	
$	179,400	
$	175,788	
$	178,050		

Excess/ (Shortfall)	
$	3,454	
$	-	
$	-		

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 1/1/19 =	May 2035

$2,145,000			

5/27/2019 3:10 PM	III

Sausalito Bay Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2016/2017	2017/2018	2018/2019	2019/2020	
Assessment	Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative Assessment For Lot Size 23	
$	-	$	179.94	
$	180.12	
$	183.64	
$	
189.66	
Maintenance Assessment For Lot Size 23	$	-	$	50.25	$	43.52	$	44.39	$	33.54	
Debt For Lot Size 23	$	-		$	375.10	$	381.21	$	375.96	$	380.43	
Total	$	625.00	$	605.29	$	604.85	$	603.99	$	603.63	

Administrative Assessment For Lot Size 50	$	-	$	179.94	$	180.12	$	183.64	$	189.66	
Maintenance Assessment For Lot Size 50	$	-	$	177.85	$	149.57	$	151.10	$	133.72	
Debt For Lot Size 50	$	-		$	489.02	$	496.99	$	490.15	$	495.98	
Total	$	750.00	$	846.81	$	826.68	$	824.89	$	819.36	

* 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

5/27/2019 3:10 PM	IV