Terreno
Community Development District

Final Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024
BUDGET	
O&M (Operation & Maintenance) Assessments	216,493	
Developer Contribution	0	
Debt Assessments	562,254	
Interest Income	240	
		
TOTAL REVENUES	$	778,987	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	36,000	
Legal	27,500	
Assessment Roll	5,000	
Audit Fees	4,300	
Arbitrage Rebate Fee	650	
Insurance	6,000	
Legal Advertisements	3,000	
Miscellaneous	1,500	
Postage	200	
Office Supplies	1,500	
Dues & Subscriptions	175	
Website Management & ADA Compliance	3,000	
Trustee Fees	4,100	
Continuing Disclosure Fee	1,000	
Total Administrative Expenditures	$	93,925	
		
Maintenance Expenditures		
Engineering/Inspections	3,000	
Miscellaneous Maintenance	1,000	
Preserve Maintenance	75,000	
Lake Bank Maintenance	20,000	
Total Maintenance Expenditures	$	99,000	
		
Total O&M Expenditures	$	192,925	
		
REVENUES LESS EXPENDITURES	$	586,062	
		
Bond Payments	(528,519)	
		
BALANCE	$	57,543	
		
County Appraiser Fee	(11,509)	
Tax Collector Fee	(15,345)	
Discounts For Early Payments	(30,689)	
		
EXCESS/ (SHORTFALL)	$	-	

6/29/2023 3:56 PM	I

DETAILED FINAL BUDGET
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022 ACTUAL	
FISCAL YEAR 2022/2023 BUDGET	
FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	
O&M (Operation & Maintenance) Assessments	0	0	216,493	Expenditures Less Interest/.94	
Developer Contribution	39,025	87,875	0		
Debt Assessments	0	0	562,254	Bond Payments/.94	
Interest Income	0	0	240	Interest Projected At $20 Per Month	
					
TOTAL REVENUES	$	39,025	$	87,875	$	778,987		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	6,000	36,000	36,000	$3,000 X 12 Months	
Legal	13,682	30,000	27,500	
Fiscal Year 2022/2023 Expenditure As Of 1/31/23 Is $7,645	
Assessment Roll	0	0	5,000	As Per Contract	
Audit Fees	0	0	4,300		
Arbitrage Rebate Fee	0	0	650	
Commences In Fiscal Year Following Issuing Of Bond	
Insurance	1,123	6,000	6,000		
Legal Advertisements	11,347	7,500	3,000		
Miscellaneous	120	1,500	1,500		
Postage	94	200	200		
Office Supplies	1,304	1,500	1,500		
Dues & Subscriptions	0	175	175	
Annual Fee Due Department Of Economic Opportunity	
Website Management & ADA Compliance	500	3,000	3,000	$250 X 12 Months	
Trustee Fees	0	0	4,100	
Commences In Fiscal Year Following Issuing Of Bond	
Continuing Disclosure Fee	0	0	1,000		
Total Administrative Expenditures	$	34,170	$	85,875	$	93,925		
					
Maintenance Expenditures					
Engineering/Inspections	0	1,000	3,000		
Miscellaneous Maintenance	0	1,000	1,000		
Preserve Maintenance	0	0	75,000		
Lake Bank Maintenance	0	0	20,000		
Total Maintenance Expenditures	$	-	$	2,000	$	99,000		
					
Total O&M Expenditures	$	34,170	$	87,875	$	192,925		
					
REVENUES LESS EXPENDITURES	$	4,855	$	-	$	586,062		
					
Bond Payments	0	0	(528,519)	2024 Principal & Interest Payments	
					
BALANCE	$	4,855	$	-	$	57,543		
					
County Appraiser Fee	0	0	(11,509)	One And One Half Percent Of Total Assessment Roll	
Tax Collector Fee	0	0	(15,345)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	0	0	(30,689)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	4,855	$	-	$	-		

6/29/2023 3:56 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2021/2022 ACTUAL	FISCAL YEAR 2022/2023 BUDGET	FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

Interest Income	
0	
0	
100	
Projected Interest For 2023/2024	

NAV Tax Collection	
0	
0	
528,519	
Maximum Debt Service Collection	

Developer Contribution	
0	
0	
0		

Total Revenues	
$	-	
$	-	
$	528,619		

EXPENDITURES					

Principal Payments	
0	
0	
125,000	
Principal Payment Due In 2024	

Interest Payments	
0	
0	
403,194	
Interest Payment Due In 2024	

Bond Redemption	
0	
-	
425	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	-	
$	528,619		

Excess/ (Shortfall)	
$	-	
$	-	
$	-		

Note: Capital Interest Set-up Through May 2023 - Developer To Be Direct Billed For November 2023 Interest Payment ($202,925).

Series 2023 Bond Information

Original Par Amount =	$8,060,000	Annual Principal Payments Due =	May 1st	

Interest Rate =	
4.25% - 5.25%	
Annual Interest Payments Due =	
May 1st & November 1st	

Issue Date =	
February 2023			

Maturity Date =	
May 2053			

Par Amount As Of 3/1/23 =	$8,060,000

6/29/2023 3:56 PM	III

TERRENO COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year	Fiscal Year	Fiscal Year	
2021/2022	2022/2023	2023/2024	
Assessment*	Assessment*	Projected Assessment*	

O & M For Single Family 42' Unit	 

$	-	$	-	$	660.04	
Debt For Single Family 42' Unit	$	-		$	-		$	1,595.00	
Total For Single Family 42' Unit	$	-	$	-	$	2,255.04	
O & M For Single Family 52' Unit	$	-	$	-	$	660.04	
Debt For Single Family 52' Unit	$	-		$	-		$	1,701.00	
Total For Single Family 52' Unit	$	-	$	-	$	2,361.04	

O & M For Single Family 66' Unit	
$	-	$	-	$	660.04	
Debt For Single Family 66' Unit	$	-		$	-		$	1,808.00	
Total For Single Family 66' Unit	$	-	$	-	$	2,468.04	

* Assessments Include the Following: 4% Discount for Early Payments County Tax Collector Fee
County Property Appraiser Fee

Community Information: Single Family 42' Units: 96
Single Family 52' Units: 96 Single Family 66' Units: 136 Total:	328 Units

6/29/2023 3:56 PM	IV