Walnut Creek Community Development District

Proposed Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

PROPOSED BUDGET

PROPOSED MAINTENANCE BUDGET III	DETAILED PROPOSED BUDGET
DETAILED PROPOSED MAINTENANCE BUDGET

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

PROPOSED BUDGET
WALNUT CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021
BUDGET	
ADMINISTRATIVE ASSESSMENTS	167,450	
MAINTENANCE ASSESSMENTS	915,489	
DEBT ASSESSMENTS (2008)	341,564	
DEBT ASSESSMENTS (2010)	130,015	
OTHER REVENUES	0	
INTEREST INCOME	1,500	
		
TOTAL REVENUES	$	1,556,018	
		
EXPENDITURES		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	6,000	
PAYROLL TAXES (EMPLOYER)	480	
ENGINEERING	35,000	
LEGAL FEES	19,000	
AUDIT FEES	3,700	
MANAGEMENT	45,648	
POSTAGE	1,300	
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	$	157,403	
		
TOTAL MAINTENANCE EXPENDITURES	$	1,042,060	
		
TOTAL EXPENDITURES	$	1,199,463	
		
REVENUES LESS EXPENDITURES	$	356,555	
		
BOND PAYMENTS (2008)	(321,070)	
BOND PAYMENTS (2010)	(122,214)	
		
BALANCE	$	(86,729)	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(31,090)	
DISCOUNTS FOR EARLY PAYMENTS	(62,181)	
		
EXCESS/ (SHORTFALL)	$	(180,000)	
		
FUNDS FROM IMPROVEMENT ACCOUNT (FOR S-8 CANAL RECONSTRUCTION PROJECT)	180,000	
		
NET EXCESS/ (SHORTFALL)	$	-	

PROPOSED MAINTENANCE BUDGET
WALNUT CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

MAINTENANCE EXPENDITURES	

FISCAL YEAR 2020/2021
BUDGET	

MAINTENANCE EXPENDITURES		

FIELD MAINTENANCE	
5,000	

OPERATIONS MANAGEMENT	
12,000	

SECURITY SERVICES	
317,000	

TELEPHONE	
10,500	

ELECTRIC	
80,000	

WATER & SEWAGE	
15,000	

GUARD HOUSE - VISITOR PASSES	
7,200	

GATE SYSTEM MAINTENANCE	
26,000	

GUARD HOUSE INT/EXT MAINTENANCE	
12,500	

LAKE & PRESERVE MAINTENANCE	
40,000	

SIGNAGE	
2,000	

STREETLIGHT MAINTENANCE	
5,000	

WATERFALL MAINTENANCE	
55,000	

HOLIDAY LIGHTING	
6,600	

LAKE RESTORATION & MAINTENANCE	
72,000	

LAKE RESTORATION & MAINTENANCE - ENGINEERING	
0	

OPERATING RESERVE/CONTINGENCY	
56,460	
STORMWATER MAINTENANCE & PIPE REPLACEMENT RESERVE/CONTINGENCY	
74,800	

PAVILION/TAFT ST GUARDHOUSE BEAM REPLACEMENT	
0	

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

HEADWALL STABILIZATION PROJECT	
40,000	

LAKE SLOPE SOIL MAINTENANCE	
10,000	

S-8 CANAL RECONSTRUCTION - ENGINEERING DESIGN & CONSTRUCTION	
180,000	

PERIMETER FENCE INSTALLATION PROJECT	

0	

TOTAL MAINTENANCE EXPENDITURES	
$	1,042,060	

DETAILED PROPOSED BUDGET
WALNUT CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2017/2018
ACTUAL	
FISCAL YEAR 2019/2020
BUDGET	
FISCAL YEAR 2020/2021
BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	166,908	166,471	167,450	Expenditures/.94	
MAINTENANCE ASSESSMENTS	1,521,755	878,574	915,489	Expenditures Less Interest & Carryover/.94	
DEBT ASSESSMENTS (2008)	380,884	380,030	341,564	Bond Payments/.94	
DEBT ASSESSMENTS (2010)	130,306	130,015	130,015	Bond Payments/.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	2,039	1,500	1,500	Projected At $125 Per Month	
					
TOTAL REVENUES	$	2,201,892	$	1,556,590	$	1,556,018		
					
EXPENDITURES					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	8,400	6,000	6,000	No Change From 2019/2020 Budget	
PAYROLL TAXES (EMPLOYER)	643	480	480	Projected At 8% Of Supervisor Fees	
ENGINEERING	20,869	35,000	35,000	No Change From 2019/2020 Budget	
LEGAL FEES	21,743	19,000	19,000	FY 19/20 Expenditure Through February 2020 Was $3,965	
AUDIT FEES	3,500	3,700	3,700	Accepted Amount For 2019/2020 Audit	
MANAGEMENT	42,900	44,628	45,648	CPI Adjustment	
POSTAGE	618	1,400	1,300	$100 Decrease From 2019/2020 Budget	
OFFICE SUPPLIES/PRINTING	5,819	5,800	5,800	No Change From 2019/2020 Budget	
INSURANCE	12,951	14,000	14,000	Insurance Estimate	
LEGAL ADVERTISING	693	1,200	1,200	No Change From 2019/2020 Budget	
MISCELLANEOUS	7,935	9,000	9,000	No Change From 2019/2020 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2019/2020 Budget	
ASSESSMENT ROLL	7,500	7,500	7,500	As Per Contract	
TRUSTEE FEES	5,747	6,250	6,250	No Change From 2019/2020 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2019/2020 Budget	
WEBSITE MANAGEMENT	1,500	2,000	2,000	No Change From 2019/2020 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	141,343	$	156,483	$	157,403		
					
TOTAL MAINTENANCE EXPENDITURES	$	1,200,369	$	944,360	$	1,042,060		
					
TOTAL EXPENDITURES	$	1,341,712	$	1,100,843	$	1,199,463		
					
REVENUES LESS EXPENDITURES	$	860,180	$	455,747	$	356,555		
					
BOND PAYMENTS (2008)	(359,281)	(357,228)	(321,070)	Yearly Maximum Debt Assessment Less Reserve Fund Credit	
BOND PAYMENTS (2010)	(122,988)	(122,214)	(122,214)	Yearly Maximum Debt Assessment	
					
BALANCE	$	377,911	$	(23,695)	$	(86,729)		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(42,366)	(31,101)	(31,090)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(80,746)	(62,204)	(62,181)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	254,799	$	(117,000)	$	(180,000)		

FUNDS FROM IMPROVEMENT ACCOUNT (FOR S-8 CANAL RECONSTRUCTION PROJECT)	0	117,000	180,000		
					
NET EXCESS/ (SHORTFALL)	$	254,799	$	-	$	-		

DETAILED PROPOSED MAINTENANCE BUDGET
WALNUT CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

MAINTENANCE EXPENDITURES	

FISCAL YEAR 2018/2019
ACTUAL	

FISCAL YEAR 2019/2020
BUDGET	

FISCAL YEAR 2020/2021
BUDGET	

COMMENTS	

MAINTENANCE EXPENDITURES					

FIELD MAINTENANCE	
5,000	
5,000	
5,000	
No Change From 2019/2020 Budget	

OPERATIONS MANAGEMENT	
12,000	
12,000	
12,000	
No Change From 2019/2020 Budget	

SECURITY SERVICES	
280,337	
317,000	
317,000	
FY 19/20 Expenditure Through February 2020 Was $117,344	

TELEPHONE	
8,627	
10,500	
10,500	
No Change From 2019/2020 Budget	

ELECTRIC	
72,992	
80,000	
80,000	
No Change From 2019/2020 Budget	

WATER & SEWAGE	
12,566	
10,000	
15,000	
$5,000 Increase From 2019/2020 Budget	

GUARD HOUSE - VISITOR PASSES	
3,614	
7,200	
7,200	
No Change From 2019/2020 Budget	

GATE SYSTEM MAINTENANCE	
20,229	
27,500	
26,000	
$1,500 Decrease From 2019/2020 Budget	

GUARD HOUSE INT/EXT MAINTENANCE	
16,064	
7,500	
12,500	
$5,000 Increase From 2019/2020 Budget	

LAKE & PRESERVE MAINTENANCE	
34,056	
40,000	
40,000	
No Change From 2019/2020 Budget	

SIGNAGE	
1,626	
2,000	
2,000	
No Change From 2019/2020 Budget	

STREETLIGHT MAINTENANCE	
7,924	
4,500	
5,000	
$500 Increase From 2019/2020 Budget	

WATERFALL MAINTENANCE	
79,399	
55,000	
55,000	
No Change From 2019/2020 Budget	

HOLIDAY LIGHTING	
6,781	
6,600	
6,600	
No Change From 2019/2020 Budget	

LAKE RESTORATION & MAINTENANCE	
71,352	
72,000	
72,000	
Fourth Year Of Five Year Project	

LAKE RESTORATION & MAINTENANCE - ENGINEERING	
6,058	
0	
0	
No Change From 2019/2020 Budget	

OPERATING RESERVE/CONTINGENCY	
12,607	
80,860	
56,460	
$24,400 Decrease From 2019/2020 Budget	
STORMWATER MAINTENANCE & PIPE REPLACEMENT RESERVE/CONTINGENCY	
759	
74,700	
74,800	
Second Year Of Five Year Reserve - Total Project Is $373,500	

PAVILION/TAFT ST GUARDHOUSE BEAM REPLACEMENT	
34,795	
0	
0	
Fiscal Year 2018/2019 Expenditure - Line Item Eliminated	

PRESSURE CLEANING & PAINTING OF EXTERIOR STRUCTURES & GATES	
50,990	
15,000	
15,000	
No Change From 2019/2020 Budget	

HEADWALL STABILIZATION PROJECT	
0	
0	
40,000	
Headwall Stabilization Project	

LAKE SLOPE SOIL MAINTENANCE	
0	
0	
10,000	
Lake Slope Soil Maintenance	

S-8 CANAL RECONSTRUCTION - ENGINEERING DESIGN & CONSTRUCTION	
0	
0	
180,000	
S-8 Canal Reconstruction - Engineering Design & Construction	

PERIMETER FENCE INSTALLATION PROJECT	

93,966	

117,000	

0	

Fiscal Year 2018/2019 & 2019/2020 Expenditure	

TOTAL MAINTENANCE EXPENDITURES	
$	831,742	
$	944,360	
$	1,042,060		

DETAILED PROPOSED DEBT SERVICE FUND (SERIES 2008) BUDGET
WALNUT CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	

FISCAL YEAR

2018/2019

ACTUAL	

FISCAL YEAR

2019/2020

BUDGET	

FISCAL YEAR

2020/2021

BUDGET	

COMMENTS	

Interest Income	
4,555	
50	
50	
Projected Interest For 2020/2021	

NAV Tax Collection	
359,079	
357,228	
321,070	

Maximum Assessment Less Reserve Fund Credit	

Reserve Fund Credit	
0	
0	
36,158	
Reserve Fund Credit	

Total Revenues	
$	363,634	
$	357,278	
$	357,278		

EXPENDITURES					

Principal Payments	
315,000	
330,000	
345,500	
Principal Payment Due In 2021	

Additional Principal Payments	
0	
1,625	
3,101	
Additional Principal Payments	

Interest Payments	
49,797	
25,653	
8,677	
Interest Payments Due In 2021	

Total Expenditures	
$	364,797	
$	357,278	
$	357,278		

Excess/ (Shortfall)	
$	(1,163)	
$	-	
$	-		

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 1/1/20 =	May 2021

$675,000			

DETAILED PROPOSED DEBT SERVICE FUND (SERIES 2010) BUDGET
WALNUT CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	

FISCAL YEAR

2018/2019

ACTUAL	

FISCAL YEAR

2019/2020

BUDGET	

FISCAL YEAR

2020/2021

BUDGET	

COMMENTS	

Interest Income	
4,486	
50	
50	
Projected Interest For 2020/2021	

NAV Tax Collection	
122,828	
122,214	
122,214	
Yearly Maximum Debt Assessment	

Prepaid Bond Collection	
0	
0	
0		

Total Revenues	
$	127,314	
$	122,264	
$	122,264		

EXPENDITURES					

Principal Payments	
45,000	
45,000	
45,000	
Principal Payment Due In 2021	

Additional Principal Payments	
0	
8,884	
12,870	
Additional Principal Payments	

Interest Payments	
70,030	
68,380	
64,394	
Interest Payments Due In 2021	

Total Expenditures	
$	115,030	
$	122,264	
$	122,264		

Excess/ (Shortfall)	
$	12,284	
$	-	
$	-		

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 1/1/20 =	May 2040

$1,195,000			

Walnut Creek Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year
2017/2018	2018/2019	2019/2020	2020/2021
 	Assessment*	 Assessment*	 	Assessment*	 Projected Assessment* 

Administrative	$	183.79	$	184.94	$	186.01	$	187.10	
Maintenance	$	1,700.29	$	982.76	$	981.65	$	1,022.90	
2008 Debt	$	427.00	$	427.00	$	427.00	$	383.79	
2010 Debt	$	145.92	$	145.92	$	145.92	$	145.92	
Total	$	2,457.00	$	1,740.62	$	1,740.58	$	1,739.71	

* 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