Walnut Creek Community Development District

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

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 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022
BUDGET	
ADMINISTRATIVE ASSESSMENTS	162,648	
MAINTENANCE ASSESSMENTS	1,116,372	
DEBT ASSESSMENTS (2008)	0	
DEBT ASSESSMENTS (2010)	130,015	
OTHER REVENUES	0	
INTEREST INCOME	1,500	
		
TOTAL REVENUES	$	1,410,535	
		
EXPENDITURES		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	6,000	
PAYROLL TAXES (EMPLOYER)	480	
ENGINEERING	35,000	
LEGAL FEES	19,000	
AUDIT FEES	3,800	
MANAGEMENT	46,284	
POSTAGE	1,250	
OFFICE SUPPLIES/PRINTING	5,750	
INSURANCE	14,000	
LEGAL ADVERTISING	1,300	
MISCELLANEOUS	9,000	
DUES & SUBSCRIPTIONS	175	
ASSESSMENT ROLL	7,500	
TRUSTEE FEES	2,500	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	154,389	
		
TOTAL MAINTENANCE EXPENDITURES	$	1,049,390	
		
TOTAL EXPENDITURES	$	1,203,779	
		
REVENUES LESS EXPENDITURES	$	206,756	
		
BOND PAYMENTS (2008)	0	
BOND PAYMENTS (2010)	(122,214)	
		
BALANCE	$	84,542	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(28,181)	
DISCOUNTS FOR EARLY PAYMENTS	(56,361)	
		
EXCESS/ (SHORTFALL)	$	-	
		
FUNDS FROM IMPROVEMENT ACCOUNT (FOR S-8 CANAL RECONSTRUCTION PROJECT)	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

FINAL MAINTENANCE BUDGET
WALNUT CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

MAINTENANCE EXPENDITURES	

FISCAL YEAR 2021/2022
BUDGET	

MAINTENANCE EXPENDITURES		

FIELD MAINTENANCE	
5,000	

OPERATIONS MANAGEMENT	
12,000	

SECURITY SERVICES	
317,000	

SECURITY SERVICES - ABDI	
12,000	

SECURITY CAMERAS & MAINTENANCE	
5,000	

TELEPHONE	
10,500	

ELECTRIC	
80,000	

WATER & SEWAGE	
17,000	

GUARD HOUSE - VISITOR PASSES	
6,700	

GATE SYSTEM MAINTENANCE	
26,000	

GUARD HOUSE INT/EXT MAINTENANCE	
12,500	

LAKE & PRESERVE MAINTENANCE	
41,000	

SIGNAGE	
2,000	

STREETLIGHT MAINTENANCE	
5,000	

WATERFALL MAINTENANCE	
60,000	

HOLIDAY LIGHTING	
6,600	

LAKE RESTORATION & MAINTENANCE	
5,000	

LAKE RESTORATION & MAINTENANCE - ENGINEERING	
0	

OPERATING RESERVE/CONTINGENCY	
0	

MISCELLANEOUS MAINTENANCE	
5,000	
STORMWATER MAINTENANCE & PIPE REPLACEMENT RESERVE/CONTINGENCY	
74,800	

PRESSURE CLEANING & PAINTING OF EXTERIOR STRUCTURES & GATES	
14,000	

HEADWALL STABILIZATION PROJECT	
10,000	

LAKE SLOPE SOIL MAINTENANCE	
10,000	

IGUANA CONTROL	
27,000	

S-8 CANAL RECONSTRUCTION - ENGINEERING DESIGN & CONSTRUCTION	
285,290	

TOTAL MAINTENANCE EXPENDITURES	
$	1,049,390	

DETAILED FINAL BUDGET
WALNUT CREEK 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	
ADMINISTRATIVE ASSESSMENTS	168,721	167,450	162,648	Expenditures Less Interest/.94	
MAINTENANCE ASSESSMENTS	878,905	915,489	1,116,372	Expenditures Less Carryover/.94	
DEBT ASSESSMENTS (2008)	380,185	341,564	0	Bond Maturity Date: May 1, 2021	
DEBT ASSESSMENTS (2010)	130,047	130,015	130,015	Bond Payments/.94	
OTHER REVENUES	7,519	0	0		
INTEREST INCOME	3,594	1,500	1,500	Projected At $125 Per Month	
					
TOTAL REVENUES	$	1,568,971	$	1,556,018	$	1,410,535		
					
EXPENDITURES					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	4,000	6,000	6,000	No Change From 2020/2021 Budget	
PAYROLL TAXES (EMPLOYER)	306	480	480	Projected At 8% Of Supervisor Fees	
ENGINEERING	30,354	35,000	35,000	No Change From 2020/2021 Budget	
LEGAL FEES	11,140	19,000	19,000	FY 20/21 Expenditure Through January 2021 Was $5,075	
AUDIT FEES	3,700	3,700	3,800	$100 Increase From 2020/2021 Budget	
MANAGEMENT	44,628	45,648	46,284	CPI Adjustment	
POSTAGE	663	1,300	1,250	$50 Decrease From 2020/2021 Budget	
OFFICE SUPPLIES/PRINTING	2,556	5,800	5,750	$50 Decrease From 2020/2021 Budget	
INSURANCE	12,047	14,000	14,000	Insurance Estimate	
LEGAL ADVERTISING	1,789	1,200	1,300	$100 Increase From 2020/2021 Budget	
MISCELLANEOUS	5,530	9,000	9,000	No Change From 2020/2021 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2020/2021 Budget	
ASSESSMENT ROLL	7,500	7,500	7,500	As Per Contract	
TRUSTEE FEES	6,180	6,250	2,500	Decreased Due To Maturity Of 2021 Bond	
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 ADMINISTRATIVE EXPENDITURES	$	132,918	$	157,403	$	154,389		
					
TOTAL MAINTENANCE EXPENDITURES	$	770,950	$	1,042,060	$	1,049,390		
					
TOTAL EXPENDITURES	$	903,868	$	1,199,463	$	1,203,779		
					
REVENUES LESS EXPENDITURES	$	665,103	$	356,555	$	206,756		
					
BOND PAYMENTS (2008)	(358,924)	(321,070)	0	Bond Maturity Date: May 1, 2021	
BOND PAYMENTS (2010)	(122,774)	(122,214)	(122,214)	Yearly Maximum Debt Assessment	
					
BALANCE	$	183,405	$	(86,729)	$	84,542		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(30,000)	(31,090)	(28,181)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(57,022)	(62,181)	(56,361)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	96,383	$	(180,000)	$	-		

FUNDS FROM IMPROVEMENT ACCOUNT (FOR S-8 CANAL RECONSTRUCTION PROJECT)	0	180,000	0		
					
NET EXCESS/ (SHORTFALL)	$	96,383	$	-	$	-		

DETAILED FINAL MAINTENANCE BUDGET
WALNUT CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

MAINTENANCE EXPENDITURES	

FISCAL YEAR 2019/2020
ACTUAL	

FISCAL YEAR 2020/2021
BUDGET	

FISCAL YEAR 2021/2022
BUDGET	

COMMENTS	

MAINTENANCE EXPENDITURES					

FIELD MAINTENANCE	
5,000	
5,000	
5,000	
No Change From 2020/2021 Budget	

OPERATIONS MANAGEMENT	
12,000	
12,000	
12,000	
No Change From 2020/2021 Budget	

SECURITY SERVICES	
281,161	
317,000	
317,000	
FY 20/21 Expenditure Through January 2021 Was $95,345	

SECURITY SERVICES - ABDI	
0	
0	
12,000	
ABDI Fees	

SECURITY CAMERAS & MAINTENANCE	
0	
0	
5,000	
Security Cameras & Maintenance	

TELEPHONE	
9,878	
10,500	
10,500	
No Change From 2020/2021 Budget	

ELECTRIC	
75,110	
80,000	
80,000	
No Change From 2020/2021 Budget	

WATER & SEWAGE	
16,500	
15,000	
17,000	
$2,000 Increase From 2020/2021 Budget	

GUARD HOUSE - VISITOR PASSES	
2,304	
7,200	
6,700	
$500 Decrease From 2020/2021 Budget	

GATE SYSTEM MAINTENANCE	
13,339	
26,000	
26,000	
No Change From 2020/2021 Budget	

GUARD HOUSE INT/EXT MAINTENANCE	
7,201	
12,500	
12,500	
No Change From 2020/2021 Budget	

LAKE & PRESERVE MAINTENANCE	
39,383	
40,000	
41,000	
$1,000 Increase From 2020/2021 Budget	

SIGNAGE	
1,115	
2,000	
2,000	
No Change From 2020/2021 Budget	

STREETLIGHT MAINTENANCE	
1,348	
5,000	
5,000	
No Change From 2020/2021 Budget	

WATERFALL MAINTENANCE	
151,017	
55,000	
60,000	
$5,000 Increase From 2020/2021 Budget	

HOLIDAY LIGHTING	
6,581	
6,600	
6,600	
No Change From 2020/2021 Budget	

LAKE RESTORATION & MAINTENANCE	
71,352	
72,000	
5,000	
Final Payment For Project Is In October 2021	

LAKE RESTORATION & MAINTENANCE - ENGINEERING	
2,723	
0	
0	
No Change From 2020/2021 Budget	

OPERATING RESERVE/CONTINGENCY	
44,293	
56,460	
0		

MISCELLANEOUS MAINTENANCE	
1,647	
0	
5,000	
Miscellaneous Maintenance	
STORMWATER MAINTENANCE & PIPE REPLACEMENT RESERVE/CONTINGENCY	
24,498	
74,800	
74,800	
Second Year Of Five Year Reserve - Total Project Is $373,500	

PRESSURE CLEANING & PAINTING OF EXTERIOR STRUCTURES & GATES	
4,500	
15,000	
14,000	
$1,000 Decrease From 2020/2021 Budget	

HEADWALL STABILIZATION PROJECT	
0	
40,000	
10,000	
$30,000 Decrease From 2020/2021 Budget	

LAKE SLOPE SOIL MAINTENANCE	
0	
10,000	
10,000	
No Change From 2020/2021 Budget	

IGUANA CONTROL	
0	
0	
27,000	
Iguana Control	

S-8 CANAL RECONSTRUCTION - ENGINEERING DESIGN & CONSTRUCTION	
0	
180,000	
285,290	

S-8 CANAL RECONSTRUCTION - ENGINEERING DESIGN & CONSTRUCTION	

TOTAL MAINTENANCE EXPENDITURES	
$	770,950	
$	1,042,060	
$	1,049,390		

DETAILED FINAL DEBT SERVICE FUND (SERIES 2008) BUDGET
WALNUT CREEK 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	
1,595	
50	
0		

NAV Tax Collection	
358,924	
321,070	
0	
Bond Maturity Date: May 1, 2021	

Reserve Fund Credit	
0	
36,158	
0		

Total Revenues	
$	360,519	
$	357,278	
$	-		

EXPENDITURES					

Principal Payments	
330,000	
345,000	
0	
Bond Maturity Date: May 1, 2021	

Additional Principal Payments	
0	
3,601	
0		

Interest Payments	
33,953	
8,677	
0		

Total Expenditures	
$	363,953	
$	357,278	
$	-		

Excess/ (Shortfall)	
$	(3,434)	
$	-	
$	-		

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 =	May 2021			

Par Amount As Of 1/1/21 =	
$345,000			

DETAILED FINAL DEBT SERVICE FUND (SERIES 2010) BUDGET
WALNUT CREEK 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	
4,486	
50	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
1,728	
122,214	
122,214	
Yearly Maximum Debt Assessment	

Prepaid Bond Collection	
122,774	
0	
0		

Total Revenues	
$	128,988	
$	122,264	
$	122,239		

EXPENDITURES					

Principal Payments	
45,000	
45,000	
50,000	
Principal Payment Due In 2022	

Additional Principal Payments	
0	
12,870	
10,256	
Additional Principal Payments	

Interest Payments	
67,780	
64,394	
61,983	
Interest Payments Due In 2022	

Total Expenditures	
$	112,780	
$	122,264	
$	122,239		

Excess/ (Shortfall)	
$	16,208	
$	-	
$	-		

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 1/1/21 =	May 2040

$1,145,000			

Walnut Creek Community Development District Assessment Comparison

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

Administrative	$	184.94	$	186.01	$	187.10	$	181.73	
Maintenance	$	982.76	$	981.65	$	1,022.90	$	1,247.35	
2008 Debt	$	427.00	$	427.00	$	383.79	$	-	
2010 Debt	$	145.92	$	145.92	$	145.92	$	145.92	
Total	$	1,740.62	$	1,740.58	$	1,739.71	$	1,575.00	

* 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