Sonoma Bay Community Development District

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

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
SONOMA BAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
O&M Assessments	314,199	
Debt Assessments	173,041	
Other Revenues	0	
Interest Income	240	
		
TOTAL REVENUES	$	487,480	
		
EXPENDITURES		
Supervisor Fees	11,000	
Payroll Taxes - Employer	880	
Engineering/Inspections	1,500	
Lake Maintenance	1,250	
Fountain Maintenance	1,000	
Lighting	13,000	
Security	178,000	
Off Duty Police Officer	25,000	
Management	28,632	
Legal	9,500	
Assessment Roll	7,500	
Audit Fees	3,700	
Insurance	6,000	
Legal Advertisements	1,600	
Miscellaneous	1,000	
Postage	300	
Office Supplies	700	
Dues & Subscriptions	175	
Trustee Fee	2,500	
Continuing Disclosure Fee	350	
Website Management	2,000	
		
TOTAL EXPENDITURES	$	295,587	
		
REVENUES LESS EXPENDITURES	$	191,893	
		
Bond Payments	(162,659)	
		
BALANCE	$	29,234	
		
County Appraiser & Tax Collector Fee	(9,744)	
Discounts For Early Payments	(19,490)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
SONOMA BAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2019/2020 ACTUAL	
FISCAL YEAR 2020/2021 BUDGET	
FISCAL YEAR 2021/2022 BUDGET	

COMMENTS	
O&M Assessments	275,646	274,790	314,199	Expenditures Less Interest/.94	
Debt Assessments	173,480	173,041	173,041	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	245	240	240	Interest Projected At $20 Per Month	
					
TOTAL REVENUES	$	449,371	$	448,071	$	487,480		
					
EXPENDITURES					
Supervisor Fees	8,200	11,000	11,000	Supervisor Fees	
Payroll Taxes - Employer	520	880	880	Projected At 8% Of Supervisor Fees	
Engineering/Inspections	0	1,500	1,500	No Change From 2020/2021 Budget	
Lake Maintenance	0	1,250	1,250	No Change From 2020/2021 Budget	
Fountain Maintenance	0	1,000	1,000	No Change From 2020/2021 Budget	
Lighting	10,507	13,000	13,000	No Change From 2020/2021 Budget	
Security	217,726	191,580	178,000	Rover Eliminated	
Off Duty Police Officer	390	25,000	25,000	No Change From 2020/2021 Budget	
Management	28,632	28,632	28,632	No Change From 2020/2021 Budget	
Legal	9,180	9,500	9,500	No Change From 2020/2021 Budget	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,500	3,600	3,700	Accepted Amount For 2020/2021 Audit	
Insurance	5,251	6,000	6,000	Insurance Estimate	
Legal Advertisements	2,542	1,200	1,600	$400 Increase From 2020/2021 Budget	
Miscellaneous	661	1,000	1,000	No Change From 2020/2021 Budget	
Postage	221	300	300	No Change From 2020/2021 Budget	
Office Supplies	515	725	700	$25 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fee	2,500	2,500	2,500	No Change From 2020/2021 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2020/2021 Budget	
Website Management	2,000	2,000	2,000	No Change From 2020/2021 Budget	
					
TOTAL EXPENDITURES	$	300,370	$	308,692	$	295,587		
					
REVENUES LESS EXPENDITURES	$	149,001	$	139,379	$	191,893		
					
Bond Payments	(166,497)	(162,659)	(162,659)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	(17,496)	$	(23,280)	$	29,234		
					
County Appraiser & Tax Collector Fee	(2,387)	(8,957)	(9,744)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(13,963)	(17,913)	(19,490)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(33,846)	$	(50,150)	$	-		
					
Carryover Funds From Prior Year	0	50,150	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(33,846)	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
SONOMA BAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2019/2020 ACTUAL	FISCAL YEAR 2020/2021 BUDGET	FISCAL YEAR 2021/2022 BUDGET	

COMMENTS	

Interest Income	
714	
200	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
166,497	
162,659	
162,659	

Yearly Maximum Debt Assessment	

Total Revenues	
$	167,211	
$	162,859	
$	162,684		

EXPENDITURES					

Principal Payments	
100,000	
105,000	
105,000	
Principal Payment Due In 2022	

Interest Payments	
59,121	
54,286	
50,958	
Interest Payment Due In 2022	

Bond Redemption	
0	
3,573	
6,726	
Estimated Excess Debt Collections	

Total Expenditures	
$	159,121	
$	162,859	
$	162,684		

Excess/ (Shortfall)	
$	8,090	
$	-	
$	-		

Series 2015 Bond Refunding Information

Original Par Amount =	$2,240,000	Annual Principal Payments Due =	May 1st	

Interest Rate =	
3.17% - 5.45%	
Annual Interest Payments Due =	
May 1st & November 1st	

Issue Date =	
August 2015			

Maturity Date =	
May 2035			

Par Amount As Of 1/1/21 =	$1,765,000

SONOMA BAY COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year 2018/2019
    Assessment* 	Fiscal Year 2019/2020
     Assessment* 	Fiscal Year 2020/2021
      Assessment*		Fiscal Year 2021/2022
      Projected Assessment* 	

O & M For Two Bedroom Units	
$	
910.20	
$	
910.00	
$	
909.90	
$	
1,040.40	
Debt For Two Bedroom Units	$	391.23	$	391.23	$	391.23	$	391.23	
Total For Two Bedroom Units	$	1,301.43	$	1,301.23	$	1,301.13	$	1,431.63	
O & M For Three Bedroom Units	$	910.20	$	910.00	$	909.90	$	1,040.40	
Debt For Three Bedroom Units	$	535.94	$	535.94	$	535.94	$	535.94	
Total For Three Bedroom Units	$	1,446.14	$	1,445.94	$	1,445.84	$	1,576.34	
O & M For Three Bedroom Units With Garage	$	910.20	$	910.00	$	909.90	$	1,040.40	
Debt For Three Bedroom Units With Garage	$	782.46	$	782.46	$	782.46	$	782.46	
Total For Three Bedroom Units With Garage	$	1,692.66	$	1,692.46	$	1,692.36	$	1,822.86	

* Assessments Include the Following : 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee		
Community Information:		
Two Bedroom Units	76	
Three Bedroom Units	136	
Three Bedroom Units With Garage	90	
Total Units	302	

9/16/2021 4:48 PM	IV