Terreno
Community Development District

Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2024/2025
BUDGET	
O&M (Operation & Maintenance) Assessments	216,212	
Developer Contribution	0	
Debt Assessments	562,254	
Interest Income	480	
		
TOTAL REVENUES	$	778,946	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	37,080	
Legal	27,250	
Assessment Roll	5,000	
Audit Fees	4,400	
Arbitrage Rebate Fee	650	
Insurance	5,900	
Legal Advertisements	2,900	
Miscellaneous	1,000	
Postage	200	
Office Supplies	1,250	
Dues & Subscriptions	175	
Website Management & ADA Compliance	3,000	
Trustee Fees	4,100	
Continuing Disclosure Fee	1,000	
Total Administrative Expenditures	$	93,905	
		
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	$	192,905	
		
REVENUES LESS EXPENDITURES	$	586,041	
		
Bond Payments	(528,519)	
		
BALANCE	$	57,522	
		
County Appraiser Fee	(11,504)	
Tax Collector Fee	(15,339)	
Discounts For Early Payments	(30,679)	
		
EXCESS/ (SHORTFALL)	$	-	

5/2/2024 8:07 AM	I

DETAILED FINAL BUDGET
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2022/2023 ACTUAL	
FISCAL YEAR 2023/2024 BUDGET	
FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	
O&M (Operation & Maintenance) Assessments	0	216,493	216,212	Expenditures Less Interest/.94	
Developer Contribution	90,412	0	0		
Debt Assessments	0	562,254	562,254	Bond Payments/.94	
Interest Income	472	240	480	Interest Projected At $40 Per Month	
					
TOTAL REVENUES	$	90,884	$	778,987	$	778,946		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	36,000	36,000	37,080	CPI Adjustment (Capped At 3%)	
Legal	26,328	27,500	27,250	$250 Decrease From 2023/2024 Budget	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,200	4,300	4,400	Amount Has Increased From 22/23 Due To Bond Issue	
Arbitrage Rebate Fee	0	650	650	Commences In Fiscal Year Following Issuing Of Bond	
Insurance	5,000	6,000	5,900	Fiscal Year 2023/2024 Expenditure Was $5,375	
Legal Advertisements	6,836	3,000	2,900	
Expenditure Should Decrease With Bond Being Issued & District Placed On Roll	
Miscellaneous	277	1,500	1,000	$500 Decrease From 2023/2024 Budget	
Postage	542	200	200	No Change From 2023/2024 Budget	
Office Supplies	814	1,500	1,250	$250 Decrease From 2023/2024 Budget	
Dues & Subscriptions	175	175	175	Annual Fee Due Department Of Economic Opportunity	
Website Management & ADA Compliance	3,000	3,000	3,000	$250 X 12 Months	
Trustee Fees	0	4,100	4,100	Commences In Fiscal Year Following Issuing Of Bond	
Continuing Disclosure Fee	0	1,000	1,000	No Change From 2023/2024 Budget	
Total Administrative Expenditures	$	87,172	$	93,925	$	93,905		
					
Maintenance Expenditures					
Engineering/Inspections	9,465	3,000	3,000	No Change From 2023/2024 Budget	
Miscellaneous Maintenance	0	1,000	1,000	No Change From 2023/2024 Budget	
Preserve Maintenance	0	75,000	75,000	No Change From 2023/2024 Budget	
Lake Bank Maintenance	0	20,000	20,000	No Change From 2023/2024 Budget	
Total Maintenance Expenditures	$	9,465	$	99,000	$	99,000		
					
Total O&M Expenditures	$	96,637	$	192,925	$	192,905		
					
REVENUES LESS EXPENDITURES	$	(5,753)	$	586,062	$	586,041		
					
Bond Payments	0	(528,519)	(528,519)	2025 Principal & Interest Payments	
					
BALANCE	$	(5,753)	$	57,543	$	57,522		
					
County Appraiser Fee	0	(11,509)	(11,504)	One And One Half Percent Of Total Assessment Roll	
Tax Collector Fee	0	(15,345)	(15,339)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	0	(30,689)	(30,679)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(5,753)	$	-	$	-		

5/2/2024 8:07 AM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2022/2023 ACTUAL	FISCAL YEAR 2023/2024 BUDGET	FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	

Interest Income	
6,447	
100	
400	
Projected Interest For 2024/2025	

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

Bond Proceeds	
349,939	
0	
0		

Developer Contribution	
0	
0	
0		

Total Revenues	
$	356,386	
$	528,619	
$	528,919		

EXPENDITURES					

Principal Payments	
0	
125,000	
130,000	
Principal Payment Due In 2025	

Interest Payments	
85,679	
403,194	
397,775	
Interest Payment Due In 2025	

Bond Redemption	
-	
425	
1,144	
Estimated Excess Debt Collections	

Total Expenditures	
$	85,679	
$	528,619	
$	528,919		

Excess/ (Shortfall)	
$	270,707	
$	-	
$	-		

Note: Capital Interest Set-up Through May 2023 - Developer Paid 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 1/1/24 =	$8,060,000

5/2/2024 8:07 AM	III

TERRENO COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year	Fiscal Year	Fiscal Year	
2022/2023	2023/2024	2024/2025	
Assessment*	Assessment*	Projected Assessment*	

O & M For Single Family 42' Unit	
$	
-	

$	660.04	
$	
659.14	
Debt For Single Family 42' Unit	$	-		 $	1,595.00	$	1,595.00	
Total For Single Family 42' Unit	$	-	$	2,255.04	$	2,254.14	
O & M For Single Family 52' Unit	$	-	$	660.04	$	659.14	
Debt For Single Family 52' Unit	$	-		 $	1,701.00	$	1,701.00	
Total For Single Family 52' Unit	$	-	$	2,361.04	$	2,360.14	
O & M For Single Family 66' Unit	$	-	$	660.04	$	659.14	
Debt For Single Family 66' Unit	$	-		 $	1,808.00	$	1,808.00	
Total For Single Family 66' Unit	$	-	$	2,468.04	$	2,467.14	

* 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

5/2/2024 8:07 AM	IV