Terreno
Community Development District

Proposed Budget For Fiscal Year 2025/2026
October 1, 2025 - September 30, 2026

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2023)

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2025)

ASSESSMENT COMPARISON

PROPOSED BUDGET
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	FISCAL YEAR 2025/2026 BUDGET	
O&M (Operation & Maintenance) Assessments	452,157	
Debt Assessments - Series 2023	562,254	
Debt Assessments - Series 2025	601,878	
Interest Income	1,200	
TOTAL REVENUES	$	1,617,489	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	38,148	
Legal	27,250	
Assessment Roll	5,000	
Audit Fees	6,000	
Arbitrage Rebate Fee	1,300	
Insurance	6,100	
Legal Advertisements	2,900	
Miscellaneous	1,000	
Postage	200	
Office Supplies	1,250	
Dues & Subscriptions	175	
Website Management & ADA Compliance	3,000	
Trustee Fees	8,500	
Dissemination Services	3,500	
Continuing Disclosure Fee	1,000	
Total Administrative Expenditures	$	105,323	
		
Maintenance Expenditures		
Engineering/Inspections	6,000	
Miscellaneous Maintenance	2,000	
Preserve Maintenance	150,000	
Lake Bank Maintenance	50,000	
Special Projects	90,452	
Total Maintenance Expenditures	$	298,452	
		
Total O&M Expenditures	$	403,775	
		
REVENUES LESS EXPENDITURES	$	1,213,714	
		
Bond Payments (Series 2023)	(528,519)	
Bond Payments (Series 2025)	(565,765)	
		
BALANCE	$	119,430	
		
County Appraiser Fee	(23,886)	
Tax Collector Fee	(31,848)	
Discounts For Early Payments	(63,696)	
		
EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	FISCAL YEAR 2023/2024 ACTUAL	FISCAL YEAR 2024/2025 BUDGET	FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	
O&M (Operation & Maintenance) Assessments	209,338	216,212	452,157	Expenditures Less Interest/.94	
Debt Assessments - Series 2023	749,819	562,254	562,254	Bond Payments/.94	
Debt Assessments - Series 2025	0	0	601,878	Bond Payments/.94	
Interest Income	12,243	480	1,200	Interest Projected At $100 Per Month	
TOTAL REVENUES	$	971,400	$	778,946	$	1,617,489		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	36,000	37,080	38,148	CPI Adjustment	
Legal	7,625	27,250	27,250	No Change From 2024/2025 Budget	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	4,300	4,400	6,000	Amount Will Increase Due To Second Bond Issue	
Arbitrage Rebate Fee	650	650	1,300	Amount Will Increase Due To Second Bond Issue	
Insurance	5,375	5,900	6,100	Fiscal Year 2024/2025 Expenditure Was $5,590	
Legal Advertisements	2,124	2,900	2,900	No Change From 2024/2025 Budget	
Miscellaneous	219	1,000	1,000	No Change From 2024/2025 Budget	
Postage	231	200	200	$50 Increase From 2024/2025 Budget	
Office Supplies	165	1,250	1,250	No Change From 2024/2025 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	4,247	4,100	8,500	Amount Will Increase Due To Second Bond Issue	
Dissemination Services	0	0	3,500	Required By Bond Underwriter	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2024/2025 Budget	
Total Administrative Expenditures	$	70,111	$	93,905	$	105,323		
					
Maintenance Expenditures					
Engineering/Inspections	3,688	3,000	6,000	Amount Has Increased Due To 2025 Bond Area	
Miscellaneous Maintenance	0	1,000	2,000	Amount Has Increased Due To 2025 Bond Area	
Preserve Maintenance	0	75,000	150,000	Amount Has Increased Due To 2025 Bond Area	
Lake Bank Maintenance	0	20,000	50,000	Amount Has Increased Due To 2025 Bond Area	
Special Projects	0	0	90,452	Special Projects	
Total Maintenance Expenditures	$	3,688	$	99,000	$	298,452		
					
Total O&M Expenditures	$	73,799	$	192,905	$	403,775		
					
REVENUES LESS EXPENDITURES	$	897,601	$	586,041	$	1,213,714		
					
Bond Payments (Series 2023)	(732,217)	(528,519)	(528,519)	2026 Principal & Interest Payments	
Bond Payments (Series 2025)	0	0	(565,765)	2026 Principal & Interest Payments	
					
BALANCE	$	165,384	$	57,522	$	119,430		
					
County Appraiser Fee	(1,722)	(11,504)	(23,886)	One And One Half Percent Of Total Assessment Roll	
Tax Collector Fee	(8,150)	(15,339)	(31,848)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(16,270)	(30,679)	(63,696)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	139,242	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2023)
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	FISCAL YEAR 2023/2024 ACTUAL	FISCAL YEAR 2024/2025 BUDGET	FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	

Interest Income	
27,098	
400	
1,200	
Projected Interest For 2025/2026	

NAV Tax Collection	
529,292	
528,519	
528,519	
Maximum Debt Service Collection	

Debt Collections - Direct Bill	
202,925	
0	
0		

Total Revenues	
$	759,315	
$	528,919	
$	529,719		

EXPENDITURES					

Principal Payments	
125,000	
130,000	
135,000	
Principal Payment Due In 2026	

Interest Payments	
405,850	
397,775	
392,144	
Interest Payment Due In 2026	

Bond Redemption	
-	
1,144	
2,575	
Estimated Excess Debt Collections	

Total Expenditures	
$	530,850	
$	528,919	
$	529,719		

Excess/ (Shortfall)	
$	228,465	
$	-	
$	-		

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 1/1/25 =	$7,935,000

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2025)
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	FISCAL YEAR 2023/2024 ACTUAL	FISCAL YEAR 2024/2025 BUDGET	FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	

Interest Income	
0	
0	
1,200	
Projected Interest For 2025/2026	

NAV Tax Collection	
0	
0	
565,765	
Maximum Debt Service Collection	

Bond Proceeds	
0	
0	
0		

Developer Contribution	
0	
0	
0		

Total Revenues	
$	-	
$	-	
$	566,965		

EXPENDITURES					

Principal Payments	
0	
0	
120,000	
Principal Payment Due In 2026	

Interest Payments	
0	
0	
445,428	
Interest Payment Due In 2026	

Bond Redemption	
-	
-	
1,537	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	-	
$	566,965		

Excess/ (Shortfall)	
$	-	
$	-	
$	-		

Note: Capital Interest Set-up Through May 2025 - Developer To Be Invoiced For November 2025 Interest Payment ($224,079).

Series 2025 Bond Information

Original Par Amount =	$8,250,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	4.55% - 5.65%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	February 2025			
Maturity Date =	May 2055			

Par Amount As Of 1/1/24 =	$8,060,000

TERRENO COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

	Fiscal Year 2023/2024
Assessment*					Fiscal Year 2024/2025
Assessment*					Fiscal Year 2025/2026
Projected Assessment*		
2023 Bond															
O & M For Single Family 42' Unit		$	660.04				$	659.14					659.13		
Debt For Single Family 42' Unit		$	1,595.00				$	1,595.00					1,595.00		
Total For Single Family 42' Unit		$	2,255.04				$	2,254.14					2,254.13		
O & M For Single Family 52' Unit		$	660.04				$	659.14					659.13		
Debt For Single Family 52' Unit		$	1,701.00				$	1,701.00					1,701.00		
Total For Single Family 52' Unit		$	2,361.04				$	2,360.14					2,360.13		
O & M For Single Family 66' Unit		$	660.04				$	659.14					659.13		
Debt For Single Family 66' Unit		$	1,808.00				$	1,808.00					1,808.00		
Total For Single Family 66' Unit		$	2,468.04				$	2,467.14					2,467.13		
2025 Bond															
O & M For Single Family 42' Unit		$	-				$	-					659.13		
Debt For Single Family 42' Unit		$	-				$	-					1,595.36		
Total For Single Family 42' Unit		$	-				$	-					2,254.49		
O & M For Single Family 52' Unit		$	-				$	-					659.13		
Debt For Single Family 52' Unit		$	-				$	-					1,701.72		
Total For Single Family 52' Unit		$	-				$	-					2,360.85		
O & M For Single Family 66' Unit		$	-				$	-					659.13		
Debt For Single Family 66' Unit		$	-				$	-					1,808.08		
Total For Single Family 66' Unit		$	-				$	-					2,467.21		

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* Assessments Include the Following:	Community Information:
4% Discount for Early Payments		Phase 1: 328 Units County Tax Collector Fee		Phase 2: 358 Units	
County Property Appraiser Fee	Total: 686 Units

Community Information:	Community Information: Phase 1		Phase 2
Single Family 42' Units: 96	Single Family 42' Units: 131
Single Family 52' Units: 96	Single Family 52' Units: 165
Single Family 66' Units: 136	Single Family 66' Units: 62
Total:	328 Units	Total:	358 Units

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