Walnut Creek Community Development District

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

CONTENTS

FINAL BUDGET

FINAL MAINTENANCE BUDGET III	DETAILED FINAL BUDGET
DETAILED FINAL MAINTENANCE BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2008) VI	DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2010) VII ASSESSMENT COMPARISON

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

REVENUES	
FISCAL YEAR 2018/2019
BUDGET	
ADMINISTRATIVE ASSESSMENTS	165,517	
MAINTENANCE ASSESSMENTS	879,574	
DEBT ASSESSMENTS (2008)	380,030	
DEBT ASSESSMENTS (2010)	130,015	
OTHER REVENUES	0	
INTEREST INCOME	1,250	
		
TOTAL REVENUES	$	1,556,386	
		
EXPENDITURES		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	8,000	
PAYROLL TAXES (EMPLOYER)	640	
ENGINEERING	35,000	
LEGAL FEES	19,000	
AUDIT FEES	3,600	
MANAGEMENT	43,800	
POSTAGE	1,400	
OFFICE SUPPLIES/PRINTING	4,800	
INSURANCE	14,621	
LEGAL ADVERTISING	1,200	
MISCELLANEOUS	9,000	
DUES & SUBSCRIPTIONS	175	
ASSESSMENT ROLL	7,500	
TRUSTEE FEES	6,250	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	1,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	156,836	
		
TOTAL MAINTENANCE EXPENDITURES	$	826,800	
		
TOTAL EXPENDITURES	$	983,636	
		
REVENUES LESS EXPENDITURES	$	572,750	
		
BOND PAYMENTS (2008)	(357,228)	
BOND PAYMENTS (2010)	(122,214)	
		
BALANCE	$	93,308	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(31,103)	
DISCOUNTS FOR EARLY PAYMENTS	(62,205)	
		
EXCESS/ (SHORTFALL)	$	-	
		
CARRY FORWARD SURPLUS	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

FINAL MAINTENANCE BUDGET
WALNUT CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

MAINTENANCE EXPENDITURES	

FISCAL YEAR 2018/2019
BUDGET	

MAINTENANCE EXPENDITURES		

FIELD MAINTENANCE	
5,000	

OPERATIONS MANAGEMENT	
12,000	

SECURITY SERVICES	
314,000	

LANDSCAPE MAINTENANCE	
0	

PLANT REPLACEMENT	
0	

TELEPHONE	
9,500	

ELECTRIC	
80,000	

WATER & SEWAGE	
7,000	

GUARD HOUSE - VISITOR PASSES	
8,200	

IRRIGATION MAINTENANCE	
0	

GATE SYSTEM MAINTENANCE	
28,000	

GUARD HOUSE INT/EXT MAINTENANCE	
8,000	

LAKE & PRESERVE MAINTENANCE	
40,000	

SIGNAGE	
2,000	

STREETLIGHT MAINTENANCE	
4,500	

WATERFALL MAINTENANCE	
55,000	

HOLIDAY LIGHTING	
6,600	

TREE TRIMMING	
0	

MISCELLANEOUS MAINTENANCE	
0	

MONUMENT REPAIRS	
0	

LAKE RESTORATION & MAINTENANCE	
72,000	

LAKE RESTORATION & MAINTENANCE - ENGINEERING	
0	

OPERATING RESERVE/CONTINGENCY	
55,000	

STORMWATER MGT & PIPE REPLACEMENT RESERVE/CONTINGENCY	
45,000	

STORMWATER MGT & PIPE REPLACEMENT - ENGINEERING	
0	

PAVILION/TAFT ST GUARDHOUSE BEAM REPLACEMENT	
50,000	

PRESSURE CLEANING & PAINTING OF EXTERIOR STRUCTURES & GATES	
15,000	

SMALL WATERFALL FEATURE PROJECT	
10,000	

PERIMETER WALL INSTALLATION PROJECT RESERVE/CONTINGENCY	
0	

TOTAL MAINTENANCE EXPENDITURES	
$	826,800	

DETAILED FINAL BUDGET
WALNUT CREEK 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	152,817	164,495	165,517	Expenditures/.94	
MAINTENANCE ASSESSMENTS	1,008,626	1,521,755	879,574	Expenditures Less Interest & Carryover/.94	
DEBT ASSESSMENTS (2008)	380,505	380,884	380,030	Bond Payments/.94	
DEBT ASSESSMENTS (2010)	130,117	130,306	130,015	Bond Payments/.94	
OTHER REVENUES	150	0	0		
INTEREST INCOME	1,395	1,250	1,250	No Change From 2017/2018 Budget	
					
TOTAL REVENUES	$	1,673,610	$	2,198,690	$	1,556,386		
					
EXPENDITURES					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	8,000	10,000	8,000	Reduction In Number Of Meetings	
PAYROLL TAXES (EMPLOYER)	612	800	640	Projected At 8% Of Supervisor Fees	
ENGINEERING	28,356	35,000	35,000	No Change From 2017/2018 Budget	
LEGAL FEES	17,904	19,000	19,000	FY 17/18 Expenditure Through January 2018 Was $5,578	
AUDIT FEES	3,400	3,500	3,600	Accepted Amount For 2017/2018 Audit	
MANAGEMENT	42,024	42,900	43,800	CPI Adjustment	
POSTAGE	1,139	1,400	1,400	No Change From 2017/2018 Budget	
OFFICE SUPPLIES/PRINTING	4,659	4,800	4,800	No Change From 2017/2018 Budget	
INSURANCE	12,772	14,050	14,621	Insurance Company Estimate	
LEGAL ADVERTISING	1,113	1,200	1,200	No Change From 2017/2018 Budget	
MISCELLANEOUS	8,407	6,500	9,000	$2,500 Increase From 2017/2018 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2017/2018 Budget	
ASSESSMENT ROLL	7,500	7,500	7,500	As Per Contract	
TRUSTEE FEES	5,747	5,800	6,250	Series 2008 Bond 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	$	143,658	$	154,625	$	156,836		
					
TOTAL MAINTENANCE EXPENDITURES	$	857,382	$	1,431,700	$	826,800		
					
TOTAL EXPENDITURES	$	1,001,040	$	1,586,325	$	983,636		
					
REVENUES LESS EXPENDITURES	$	672,570	$	612,365	$	572,750		
					
BOND PAYMENTS (2008)	(359,031)	(358,031)	(357,228)	Yearly Maximum Debt Assessment	
BOND PAYMENTS (2010)	(122,838)	(122,488)	(122,214)	Yearly Maximum Debt Assessment	
					
BALANCE	$	190,701	$	131,846	$	93,308		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(32,209)	(43,948)	(31,103)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(61,164)	(87,898)	(62,205)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	97,328	$	-	$	-		
					
CARRY FORWARD SURPLUS	0	0	0	Carry Forward Surplus	
					
NET EXCESS/ (SHORTFALL)	$	97,328	$	-	$	-		

DETAILED FINAL MAINTENANCE BUDGET
WALNUT CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

MAINTENANCE EXPENDITURES	

FISCAL YEAR 2016/2017
ACTUAL	

FISCAL YEAR 2017/2018
BUDGET	

FISCAL YEAR 2018/2019
BUDGET	

COMMENTS	

MAINTENANCE EXPENDITURES					

FIELD MAINTENANCE	
5,000	
5,000	
5,000	
No Change From 2017/2018 Budget	

OPERATIONS MANAGEMENT	
12,000	
12,000	
12,000	
No Change From 2017/2018 Budget	

SECURITY SERVICES	
274,620	
304,500	
314,000	
$9,500 Increase From 2017/2018 Budget	

LANDSCAPE MAINTENANCE	
309,734	
390,000	
0	
Removed From 2018/2019 Budget	

PLANT REPLACEMENT	
2,950	
20,000	
0	
Removed From 2018/2019 Budget	

TELEPHONE	
8,022	
9,500	
9,500	
No Change From 2017/2018 Budget	

ELECTRIC	
72,460	
76,000	
80,000	
$4,000 Increase From 2017/2018 Budget	

WATER & SEWAGE	
5,676	
5,000	
7,000	
$2,000 Increase From 2017/2018 Budget	

GUARD HOUSE - VISITOR PASSES	
5,050	
8,200	
8,200	
No Change From 2017/2018 Budget	

IRRIGATION MAINTENANCE	
11,469	
14,400	
0	
Removed From 2018/2019 Budget	

GATE SYSTEM MAINTENANCE	
26,879	
18,000	
28,000	
$10,000 Increase From 2017/2018 Budget	

GUARD HOUSE INT/EXT MAINTENANCE	
0	
8,000	
8,000	
Guard House Int/Ext Maintenance	

LAKE & PRESERVE MAINTENANCE	
34,523	
40,000	
40,000	
No Change From 2017/2018 Budget	

SIGNAGE	
1,532	
2,000	
2,000	
No Change From 2017/2018 Budget	

STREETLIGHT MAINTENANCE	
2,673	
4,500	
4,500	
No Change From 2017/2018 Budget	

WATERFALL MAINTENANCE	
20,136	
30,000	
55,000	
$25,000 Increase From 2017/2018 Budget	

HOLIDAY LIGHTING	
5,458	
6,600	
6,600	
No Change From 2017/2018 Budget	

TREE TRIMMING	
0	
20,000	
0	
Removed From 2018/2019 Budget	

MISCELLANEOUS MAINTENANCE	
7,237	
5,000	
0	
Line Item Eliminated	

MONUMENT REPAIRS	
5,600	
6,000	
0	
Line Item Eliminated	

LAKE RESTORATION & MAINTENANCE	
0	
312,000	
72,000	
Second Year Of Five Year Project	

LAKE RESTORATION & MAINTENANCE - ENGINEERING	
0	
60,000	
0	
Fiscal Year 2017/2018 Expenditure	

OPERATING RESERVE/CONTINGENCY	
22,003	
15,000	
55,000	
$35,000 Increase From 2017/2018 Budget	

STORMWATER MGT & PIPE REPLACEMENT RESERVE/CONTINGENCY	
24,360	
60,000	
45,000	
$15,000 Decrease From 2017/2018 Budget	

STORMWATER MGT & PIPE REPLACEMENT - ENGINEERING	
0	
0	
0	
Line Item Eliminated	

PAVILION/TAFT ST GUARDHOUSE BEAM REPLACEMENT	
0	
0	
50,000	
Special Project - Pavilion/Taft St. Guardhouse Beam Replacement	

PRESSURE CLEANING & PAINTING OF EXTERIOR STRUCTURES & GATES	
0	
0	
15,000	
Special Project - Pressure Cleaning & Painting Of Exterior Structures	

SMALL WATERFALL FEATURE PROJECT	
0	
0	
10,000	Allowance to Make Small Waterfall Fully Operation or to Abandon System and Convert to Landscape Feature	
PERIMETER WALL INSTALLATION PROJECT RESERVE/CONTINGENCY	
0	
0	
0	Start off Reserve for Special Improvement Project to Install Perimeter Wall	

TOTAL MAINTENANCE EXPENDITURES	
$	857,382	
$	1,431,700	
$	826,800		

DETAILED FINAL DEBT SERVICE FUND (SERIES 2008) BUDGET
WALNUT CREEK 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	
575	
25	
25	
Projected Interest For 2018/2019	

NAV Tax Collection	
359,031	
358,031	
357,228	
Yearly Maximum Debt Assessment	

Prepaid Bond Collection	
1,452	
0	
0		

Total Revenues	
$	361,058	
$	358,056	
$	357,253		

EXPENDITURES					

Principal Payments	
285,000	
300,000	
315,000	
Principal Payment Due In 2019	

Additional Principal Payments	
0	
792	
378	
Additional Principal Payments	

Interest Payments	
78,187	
57,264	
41,875	
Interest Payments Due In 2019	

Total Expenditures	
$	363,187	
$	358,056	
$	357,253		

Excess/ (Shortfall)	
$	(2,129)	
$	-	
$	-		

Series 2008 Bond Information

Original Par Amount =	$3,450,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	4.01 - 5.03%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	July 2008			
Maturity Date =

Par Amount As Of 1/1/18 =	May 2021

$1,290,000			

DETAILED FINAL DEBT SERVICE FUND (SERIES 2010) BUDGET
WALNUT CREEK 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	
692	
25	
25	
Projected Interest For 2018/2019	

NAV Tax Collection	
122,838	
122,488	
122,214	
Yearly Maximum Debt Assessment	

Prepaid Bond Collection	
1,473	
0	
0		

Total Revenues	
$	125,003	
$	122,513	
$	122,239		

EXPENDITURES					

Principal Payments	
40,000	
45,000	
45,000	
Principal Payment Due In 2019	

Additional Principal Payments	
0	
5,539	
6,609	
Additional Principal Payments	

Interest Payments	
75,953	
71,974	
70,630	
Interest Payments Due In 2019	

Total Expenditures	
$	115,953	
$	122,513	
$	122,239		

Excess/ (Shortfall)	
$	9,050	
$	-	
$	-		

Series 2010 Bond Information

Original Par Amount =	$2,650,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	2.05 - 5.95%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	January 2010			
Maturity Date =

Par Amount As Of 1/1/18 =	May 2040

$1,310,000			

Walnut Creek Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year
2015/2016	2016/2017	2017/2018	2018/2019
 	Assessment*	 Assessment*	 Assessment*	 Projected Assessment* 

Administrative	$	154.14	$	168.81	$	183.79	$	184.94	
Maintenance	$	1,142.94	$	1,128.27	$	1,700.29	$	982.76	
2008 Debt	$	427.00	$	427.00	$	427.00	$	427.00	
2010 Debt	$	145.92	$	145.92	$	145.92	$	145.92	
Total	$	1,870.00	$	1,870.00	$	2,457.00	$	1,740.62	

* Assessments Include the Following :	 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee
Community Information:		 Total Units	895
2008 Debt Service Information	

Total Units	895	
Prepayments	5	
Billed For 2008 Debt	890	

2010 Debt Service Information	

Total Units	895	
Prepayments	4	
Billed For 2010 Debt	891