Walnut Creek Community Development District

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

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 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020
BUDGET	
ADMINISTRATIVE ASSESSMENTS	166,471	
MAINTENANCE ASSESSMENTS	878,574	
DEBT ASSESSMENTS (2008)	380,030	
DEBT ASSESSMENTS (2010)	130,015	
OTHER REVENUES	0	
INTEREST INCOME	1,500	
		
TOTAL REVENUES	$	1,556,590	
		
EXPENDITURES		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	6,000	
PAYROLL TAXES (EMPLOYER)	480	
ENGINEERING	35,000	
LEGAL FEES	19,000	
AUDIT FEES	3,700	
MANAGEMENT	44,628	
POSTAGE	1,400	
OFFICE SUPPLIES/PRINTING	5,800	
INSURANCE	14,000	
LEGAL ADVERTISING	1,200	
MISCELLANEOUS	9,000	
DUES & SUBSCRIPTIONS	175	
ASSESSMENT ROLL	7,500	
TRUSTEE FEES	6,250	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	156,483	
		
TOTAL MAINTENANCE EXPENDITURES	$	944,360	
		
TOTAL EXPENDITURES	$	1,100,843	
		
REVENUES LESS EXPENDITURES	$	455,747	
		
BOND PAYMENTS (2008)	(357,228)	
BOND PAYMENTS (2010)	(122,214)	
		
BALANCE	$	(23,695)	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(31,101)	
DISCOUNTS FOR EARLY PAYMENTS	(62,204)	
		
EXCESS/ (SHORTFALL)	$	(117,000)	
		
FUNDS FROM IMPROVEMENT ACCOUNT	117,000	
		
NET EXCESS/ (SHORTFALL)	$	-	

FINAL MAINTENANCE BUDGET
WALNUT CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

MAINTENANCE EXPENDITURES	

FISCAL YEAR 2019/2020
BUDGET	

MAINTENANCE EXPENDITURES		

FIELD MAINTENANCE	
5,000	

OPERATIONS MANAGEMENT	
12,000	

SECURITY SERVICES	
317,000	

LANDSCAPE MAINTENANCE	
0	

PLANT REPLACEMENT	
0	

TELEPHONE	
10,500	

ELECTRIC	
80,000	

WATER & SEWAGE	
10,000	

GUARD HOUSE - VISITOR PASSES	
7,200	

IRRIGATION MAINTENANCE	
0	

GATE SYSTEM MAINTENANCE	
27,500	

GUARD HOUSE INT/EXT MAINTENANCE	
7,500	

LAKE & PRESERVE MAINTENANCE	
40,000	

SIGNAGE	
2,000	

STREETLIGHT MAINTENANCE	
4,500	

WATERFALL MAINTENANCE	
55,000	

HOLIDAY LIGHTING	
6,600	

TREE TRIMMING	
0	

LAKE RESTORATION & MAINTENANCE	
72,000	

LAKE RESTORATION & MAINTENANCE - ENGINEERING	
0	

OPERATING RESERVE/CONTINGENCY	
80,860	

STORMWATER MAINTENANCE & PIPE REPLACEMENT RESERVE/CONTINGENCY	
74,700	

PAVILION/TAFT ST GUARDHOUSE BEAM REPLACEMENT	
0	

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

SMALL WATERFALL FEATURE PROJECT	
0	

PERIMETER FENCE INSTALLATION PROJECT	
117,000	

TOTAL MAINTENANCE EXPENDITURES	
$	944,360	

DETAILED FINAL BUDGET
WALNUT CREEK 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	166,908	165,517	166,471	Expenditures/.94	
MAINTENANCE ASSESSMENTS	1,521,755	879,574	878,574	Expenditures Less Interest & Carryover/.94	
DEBT ASSESSMENTS (2008)	380,884	380,030	380,030	Bond Payments/.94	
DEBT ASSESSMENTS (2010)	130,306	130,015	130,015	Bond Payments/.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	2,039	1,250	1,500	Projected At $125 Per Month	
					
TOTAL REVENUES	$	2,201,892	$	1,556,386	$	1,556,590		
					
EXPENDITURES					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	8,400	8,000	6,000	$2,000 Decrease From 2018/2019 Budget	
PAYROLL TAXES (EMPLOYER)	643	640	480	Projected At 8% Of Supervisor Fees	
ENGINEERING	20,869	35,000	35,000	No Change From 2018/2019 Budget	
LEGAL FEES	21,743	19,000	19,000	FY 18/19 Expenditure Through January 2019 Was $4,850	
AUDIT FEES	3,500	3,600	3,700	Accepted Amount For 2018/2019 Audit	
MANAGEMENT	42,900	43,800	44,628	CPI Adjustment	
POSTAGE	618	1,400	1,400	No Change From 2018/2019 Budget	
OFFICE SUPPLIES/PRINTING	5,819	4,800	5,800	$1,000 Increase From 2018/2019 Budget	
INSURANCE	12,951	14,621	14,000	Insurance Estimate	
LEGAL ADVERTISING	693	1,200	1,200	No Change From 2018/2019 Budget	
MISCELLANEOUS	7,935	9,000	9,000	No Change From 2018/2019 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2018/2019 Budget	
ASSESSMENT ROLL	7,500	7,500	7,500	As Per Contract	
TRUSTEE FEES	5,747	6,250	6,250	Series 2008 Bond 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	
TOTAL ADMINISTRATIVE EXPENDITURES	$	141,343	$	156,836	$	156,483		
					
TOTAL MAINTENANCE EXPENDITURES	$	1,200,369	$	826,800	$	944,360		
					
TOTAL EXPENDITURES	$	1,341,712	$	983,636	$	1,100,843		
					
REVENUES LESS EXPENDITURES	$	860,180	$	572,750	$	455,747		
					
BOND PAYMENTS (2008)	(359,281)	(357,228)	(357,228)	Yearly Maximum Debt Assessment	
BOND PAYMENTS (2010)	(122,988)	(122,214)	(122,214)	Yearly Maximum Debt Assessment	
					
BALANCE	$	377,911	$	93,308	$	(23,695)		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(42,366)	(31,103)	(31,101)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(80,746)	(62,205)	(62,204)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	254,799	$	-	$	(117,000)		
					
FUNDS FROM IMPROVEMENT ACCOUNT	0	0	117,000	Funds From Improvement Account	
					
NET EXCESS/ (SHORTFALL)	$	254,799	$	-	$	-		

DETAILED FINAL MAINTENANCE BUDGET
WALNUT CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

MAINTENANCE EXPENDITURES	

FISCAL YEAR 2017/2018
ACTUAL	

FISCAL YEAR 2018/2019
BUDGET	

FISCAL YEAR 2019/2020
BUDGET	

COMMENTS	

MAINTENANCE EXPENDITURES					

FIELD MAINTENANCE	
5,000	
5,000	
5,000	
No Change From 2018/2019 Budget	

OPERATIONS MANAGEMENT	
12,000	
12,000	
12,000	
No Change From 2018/2019 Budget	

SECURITY SERVICES	
277,639	
314,000	
317,000	
FY 18/19 Expenditure Through January 2019 Was $93,980	

LANDSCAPE MAINTENANCE	
295,181	
0	
0	
Removed From 2018/2019 Budget	

PLANT REPLACEMENT	
1,600	
0	
0	
Removed From 2018/2019 Budget	

TELEPHONE	
9,538	
9,500	
10,500	
$1,000 Increase From 2017/2018 Budget	

ELECTRIC	
71,193	
80,000	
80,000	
No Change From 2018/2019 Budget	

WATER & SEWAGE	
7,161	
7,000	
10,000	
FY 18/19 Expenditure Through January 2019 Was $7,598	

GUARD HOUSE - VISITOR PASSES	
5,781	
8,200	
7,200	
$1,000 Decrease From 2018/2019 Budget	

IRRIGATION MAINTENANCE	
9,574	
0	
0	
Removed From 2018/2019 Budget	

GATE SYSTEM MAINTENANCE	
10,286	
28,000	
27,500	
$500 Decrease From 2018/2019 Budget	

GUARD HOUSE INT/EXT MAINTENANCE	
1,452	
8,000	
7,500	
$500 Decrease From 2018/2019 Budget	

LAKE & PRESERVE MAINTENANCE	
34,056	
40,000	
40,000	
No Change From 2018/2019 Budget	

SIGNAGE	
1,128	
2,000	
2,000	
No Change From 2018/2019 Budget	

STREETLIGHT MAINTENANCE	
4,547	
4,500	
4,500	
$500 Increase From 2018/2019 Budget	

WATERFALL MAINTENANCE	
24,065	
55,000	
55,000	
To Finish West Waterfall Replacement	

HOLIDAY LIGHTING	
6,253	
6,600	
6,600	
No Change From 2018/2019 Budget	

TREE TRIMMING	
20,495	
0	
0	
Removed From 2018/2019 Budget	

LAKE RESTORATION & MAINTENANCE	
291,354	
72,000	
72,000	
Third Year Of Five Year Project	

LAKE RESTORATION & MAINTENANCE - ENGINEERING	
30,006	
0	
0	
Fiscal Year 2017/2018 Expenditure	

OPERATING RESERVE/CONTINGENCY	
42,060	
55,000	
80,860	
$25,860 Increase From 2018/2019 Budget	
STORMWATER MAINTENANCE & PIPE REPLACEMENT RESERVE/CONTINGENCY	
40,000	
45,000	
74,700	
First Year Of Five Year Reserve - Total Project Is $373,500	

PAVILION/TAFT ST GUARDHOUSE BEAM REPLACEMENT	
0	
50,000	
0	
Fiscal Year 2018/2019 Expenditure - Line Item Eliminated	

PRESSURE CLEANING & PAINTING OF EXTERIOR STRUCTURES & GATES	
0	
15,000	
15,000	
No Change From 2018/2019 Budget	

SMALL WATERFALL FEATURE PROJECT	
0	
10,000	
0	
Fiscal Year 2018/2019 Expenditure	

PERIMETER FENCE INSTALLATION PROJECT	

0	

0	

117,000	Perimeter Fence Installation Project. The Cost Of This Project Is To Be Divided Between The District And HOA. Total Project Is Estimated To Be Approximately $234,000/2 = $117,000 Each	

TOTAL MAINTENANCE EXPENDITURES	
$	1,200,369	
$	826,800	
$	944,360		

DETAILED FINAL DEBT SERVICE FUND (SERIES 2008) BUDGET
WALNUT CREEK 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	
2,428	
25	
50	
Projected Interest For 2019/2020	

NAV Tax Collection	
359,281	
357,228	
357,228	
Yearly Maximum Debt Assessment	

Prepaid Bond Collection	
1,452	
0	
0		

Total Revenues	
$	363,161	
$	357,253	
$	357,278		

EXPENDITURES					

Principal Payments	
300,000	
315,000	
330,000	
Principal Payment Due In 2020	

Additional Principal Payments	
5,000	
378	
1,625	
Additional Principal Payments	

Interest Payments	
64,353	
41,875	
25,653	
Interest Payments Due In 2019	

Total Expenditures	
$	369,353	
$	357,253	
$	357,278		

Excess/ (Shortfall)	
$	(6,192)	
$	-	
$	-		

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 1/1/19 =	May 2021

$990,000			

DETAILED FINAL DEBT SERVICE FUND (SERIES 2010) BUDGET
WALNUT CREEK 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	
2,602	
25	
50	
Projected Interest For 2019/2020	

NAV Tax Collection	
122,988	
122,214	
122,214	
Yearly Maximum Debt Assessment	

Prepaid Bond Collection	
1,473	
0	
0		

Total Revenues	
$	127,063	
$	122,239	
$	122,264		

EXPENDITURES					

Principal Payments	
45,000	
45,000	
45,000	
Principal Payment Due In 2020	

Additional Principal Payments	
30,000	
6,609	
8,884	
Additional Principal Payments	

Interest Payments	
73,884	
70,630	
68,380	
Interest Payments Due In 2020	

Total Expenditures	
$	148,884	
$	122,239	
$	122,264		

Excess/ (Shortfall)	
$	(21,821)	
$	-	
$	-		

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 1/1/19 =	May 2040

$1,240,000			

Walnut Creek Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year
2016/2017	2017/2018	2018/2019	2019/2020
 	Assessment*	 Assessment*	 Assessment*	 Projected Assessment* 

Administrative	$	168.81	$	183.79	$	184.94	$	186.01	
Maintenance	$	1,128.27	$	1,700.29	$	982.76	$	981.65	
2008 Debt	$	427.00	$	427.00	$	427.00	$	427.00	
2010 Debt	$	145.92	$	145.92	$	145.92	$	145.92	
Total	$	1,870.00	$	2,457.00	$	1,740.62	$	1,740.58	

* 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