Sausalito Bay Community Development District

Proposed Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
SAUSALITO BAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2022/2023
BUDGET	
Administrative Assessments	82,233	
Maintenance Assessments	32,340	
Debt Assessments	188,085	
Other Revenues	0	
Interest Income	240	
		
TOTAL REVENUES	$	302,898	
		
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	2,300	
TOTAL MAINTENANCE EXPENDITURES	$	57,250	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	383	
Management	32,136	
Secretarial & Field Operations	6,180	
Legal	8,000	
Assessment Roll	6,000	
Audit Fees	3,800	
Insurance	6,000	
Legal Advertisements	675	
Miscellaneous	1,600	
Postage	250	
Office Supplies	450	
Dues & Subscriptions	175	
Trustee Fee	3,600	
Continuing Disclosure Fee	350	
Website Management	2,000	
Administrative Contingency	700	
TOTAL ADMINISTRATIVE EXPENDITURES	$	77,299	
		
TOTAL EXPENDITURES	$	134,549	
		
REVENUES LESS EXPENDITURES	$	168,349	
		
Bond Payments	(176,800)	
		
BALANCE	$	(8,451)	
		
County Appraiser & Tax Collector Fee	(6,053)	
Discounts For Early Payments	(12,106)	
		
EXCESS/ (SHORTFALL)	$	(26,610)	
		
Carryover From Prior Year	26,610	
		
NET EXCESS/ (SHORTFALL)	$	-	

2/21/2022 10:30 AM	I

DETAILED PROPOSED BUDGET
SAUSALITO BAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021
ACTUAL	FISCAL YEAR 2021/2022
BUDGET	FISCAL YEAR 2022/2023
BUDGET	

COMMENTS	
Administrative Assessments	82,186	81,290	82,233	Expenditures/.94	
Maintenance Assessments	38,989	37,181	32,340	Expenditures Less Interest & Carryover/.94	
Debt Assessments	185,399	187,028	188,085	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	271	300	240	Interest Projected At $20 Per Month	
					
TOTAL REVENUES	$	306,845	$	305,799	$	302,898		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Aquatic Maintenance (SFH - 50)	6,120	5,400	5,400	No Change From 2021/2022 Budget	
Aquatic Maintenance (TH - 23)	0	1,800	1,800	No Change From 2021/2022 Budget	
Lawn Maintenance (SFH - 50)	16,481	22,500	22,500	No Change From 2021/2022 Budget	
Lawn Maintenance/Lake Tracts (TH - 23)	8,146	6,000	6,000	No Change From 2021/2022 Budget	
Lake Tract Shoreline Maintenance (SFH - 50)	1,600	900	900	No Change From 2021/2022 Budget	
Lake Tract Shoreline Maintenance (TH - 23)	0	480	480	No Change From 2021/2022 Budget	
Miscellaneous Maintenance Expenses (SFH - 50)	0	8,000	8,000	No Change From 2021/2022 Budget	
Miscellaneous Maintenance Expenses (TH - 23)	0	750	750	No Change From 2021/2022 Budget	
Misc Grounds Maintenance/Mulch/Fertilizer	1,538	4,800	4,800	No Change From 2021/2022 Budget	
Engineering/Inspections	975	1,020	1,020	No Change From 2021/2022 Budget	
Outside Janitorial Services (SFH - 50)	0	3,300	3,300	No Change From 2021/2022 Budget	
Maintenance Contingency	250	2,300	2,300	Maintenance Contingency	
TOTAL MAINTENANCE EXPENDITURES	$	35,110	$	57,250	$	57,250		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	4,000	5,000	5,000	Supervisor Fees	
Payroll Taxes (Employer)	306	383	383	Supervisor Fees *7.65%	
Management	30,780	31,200	32,136	CPI Adjustment (Capped At 3%)	
Secretarial & Field Operations	6,180	6,180	6,180	No Change From 2021/2022 Budget	
Legal	6,745	8,000	8,000	No Change From 2021/2022 Budget	
Assessment Roll	6,000	6,000	6,000	No Change From 2021/2022 Budget	
Audit Fees	3,600	3,700	3,800	Accepted Amount For 2021/2022 Audit	
Insurance	5,513	6,000	6,000	Insurance Estimate	
Legal Advertisements	288	700	675	$25 Decrease From 2021/2022 Budget	
Miscellaneous	917	1,700	1,600	$100 Decrease From 2021/2022 Budget	
Postage	210	250	250	No Change From 2021/2022 Budget	
Office Supplies	172	475	450	$25 Decrease From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fee	3,547	3,600	3,600	No Change From 2021/2022 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2021/2022 Budget	
Website Management	2,000	2,000	2,000	No Change From 2021/2022 Budget	
Administrative Contingency	0	700	700	Administrative Contingency	
TOTAL ADMINISTRATIVE EXPENDITURES	$	70,783	$	76,413	$	77,299		
					
TOTAL EXPENDITURES	$	105,893	$	133,663	$	134,549		
					
REVENUES LESS EXPENDITURES	$	200,952	$	172,136	$	168,349		
					
Bond Payments	(176,771)	(175,806)	(176,800)	2023 P & I Payments Less Earned Interest	
					
BALANCE	$	24,181	$	(3,670)	$	(8,451)		
					
County Appraiser & Tax Collector Fee	(2,953)	(6,110)	(6,053)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(11,305)	(12,220)	(12,106)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	9,923	$	(22,000)	$	(26,610)		
					
Carryover From Prior Year	0	22,000	26,610	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	9,923	$	-	$	-		

2/21/2022 10:30 AM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
SAUSALITO BAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021 ACTUAL	FISCAL YEAR 2021/2022 BUDGET	FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	

Interest Income	
11	
25	
25	
Projected Interest For FY 2022/2023	

NAV Tax Collection	
176,771	
175,806	
176,775	
2023 P & I Payments Less Earned Interest	

Total Revenues	
$	176,782	
$	175,831	
$	176,800		

EXPENDITURES					

Principal Payments	
100,000	
105,000	
110,000	
Principal Payment Due In 2023	

Interest Payments	
76,550	
70,831	
66,800	
Interest Payments Due In 2023	

Total Expenditures	
$	176,550	
$	175,831	
$	176,800		

Excess/ (Shortfall)	
$	232	
$	-	
$	-		

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 1/1/22 =	May 2035

$1,855,000			

2/21/2022 10:30 AM	III

Sausalito Bay Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2019/2020	2020/2021	2021/2022	2022/2023	
Assessment	Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative Assessment For Lot Size 23	
$	-	$	189.66	
$	190.93	
$	189.50	
$	
191.69	
Maintenance Assessment For Lot Size 23	$	-	$	33.54	$	35.39	$	33.49	$	29.13	
Debt For Lot Size 23	$	-		$	380.43	$	372.78	$	376.06	$	378.18	
Total	$	625.00	$	603.63	$	599.10	$	599.05	$	599.00	

Administrative Assessment For Lot Size 50	$	-	$	189.66	$	190.93	$	189.50	$	191.69	
Maintenance Assessment For Lot Size 50	$	-	$	133.72	$	141.20	$	134.88	$	117.32	
Debt For Lot Size 50	$	-		$	495.98	$	486.01	$	490.27	$	493.05	
Total	$	750.00	$	819.36	$	818.14	$	814.65	$	802.06	

* 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

2/21/2022 10:30 AM	IV