Montecito Community Development District

Budget Workshop Meeting Agenda March 1, 2022

Montecito Community Development District
www.MontecitoCDD.com

February 24, 2023

Board of Supervisors
Montecito Community Development District Dear Board Members:
The Montecito Community Development District Budget Workshop Meeting is scheduled for Wednesday, March 1, 2023 at 9:30 a.m. at Montecito Beach Club, 208 Montecito Drive, Satellite Beach, Florida. Following is the agenda for the meeting:

Roll Call
Business Items
Review and Discussion of Draft Fiscal Year 2024 Budget
Other Business
Supervisor Requests
Next Scheduled Meeting –April 5, 2023, at 9:30 AM at the Montecito Beach Club
Adjournment

	Actuals Thru	Actuals Thru	Adopted Budget	Actuals Thru	Projected Next	Projected Total Thru	Proposed Budget	
	FY2021	FY2022	FY 2023	1/31/23	8 Months	9/30/23	FY 2024	

Revenues								
Maintenance Assessments	$	725,920	$	725,846	$	863,748	$	821,596	$	42,152	$	863,748	$	863,748	
Interest Income	4	3	-	1	-	1	-	
Gate & Amenity Access Income	4,838	3,865	-	365	-	365	-	
Miscellaneous Income	715	19,418	-	1,200	-	1,200	-	
Carryforward Surplus	-	96,765	-	-	-	-	-	
Total Revenues	$	731,478	$	845,897	$	863,748	$	823,162	$	42,152	$	865,314	$	863,748	

Expenditures								
Administrative Expenditures								
Supervisor Fees	$	7,600	$	8,600	$	7,800	$	3,000	4,800	$	7,800		
District Management	41,200	42,436	55,000	18,333	36,667	55,000		
District Engineer	22,810	40,259	30,000	-	20,000	20,000		
District Counsel	32,150	48,397	30,000	14,845	16,000	30,845		
Disclosure Report	1,500	1,500	1,500	-	-	-		
Trustee Fees	3,208	1,458	3,500	-	3,000	3,000		
Assessment Roll	5,000	5,000	5,000	5,000	-	5,000		
Auditing Services	4,675	4,875	5,000	-	5,000	5,000		
Arbitrage Rebate Calculation	450	450	500	-	450	450		
Public Officials/General Liability Insurance	15,343	15,918	19,102	16,555	-	16,555		
Legal Advertising	1,231	3,591	2,000	602	1,398	2,000		
Dues, Licenses, & Subscriptions	175	175	175	175	-	175		
Information Technology	1,200	1,800	1,800	600	1,200	1,800		
Website Maintenance	-	2,204	1,200	1,400	800	2,200		
Property Appraiser	211	211	250	211	-	211		
Reimbursable Expenditures	533	674	1,200	742	458	1,200		
Contingency	1,903	1,695	2,400	684	1,600	2,284		
Administrative Expenditures Total	$	139,188	$	179,242	$	166,427	$	62,147	$	91,372	$	153,519	$	-	

Operations and Maintenance Expenditures								
Field Management
Field Manager	
$	18,540	
$	20,005	
$	-	
$	-	
-	
$	-		
Onsite Facility Supervisor Salary	45,369	42,093	-	-	-	-		
Onsite Parttime Pool Attendant	846	-	-	-	-	-		
Payroll Taxes	3,594	3,269	-	-	-	-		
Workers Compensation Costs	2,201	2,010	-	-	-	-		
Cell Phone & Mileage Reimbursement	325	275	-	-	-	-		
ADP Fees	1,641	1,719	-	199	75	274		
Amenity and Field Management Contract	-	4,275	92,480	22,122	70,358	92,480		
Property Insurance	28,980	30,404	36,419	34,078	-	34,078		
Field Management Subtotal	$	101,496	$	104,050	$	128,899	$	56,399	$	70,433	$	126,832	$	-	

Amenity Center Operations
Repairs & Maintenance (Non-HVAC)	

$	7,036	

$	10,703	

$	12,000	

$	1,016	

-	

$	1,016		
HVAC Repairs & Maintenance	607	3,351	2,000	-	2,000	2,000		
Office Supplies	1,111	860	1,500	-	1,000	1,000		
Janitorial Supplies	634	528	1,850	-	1,850	1,850		
Janitorial Services	7,280	8,115	8,241	1,970	6,271	8,241		
Pest Control & Termite Bond	939	939	1,203	80	900	980		
Fitness Equipment Repairs & Maintenance	1,651	2,726	3,000	225	2,000	2,225		
Playground Repairs & Maintenance	613	-	1,000	-	1,000	1,000		
Pool Service Repairs & Maintenance	13,456	17,942	15,000	4,264	10,000	14,264		
Amenity Center Operations Subtotal	$	33,327	$	45,164	$	45,794	$	7,555	$	25,021	$	32,576	$	-	

	Actuals Thru	Actuals Thru	Adopted Budget	Actuals Thru	Projected Next	Projected Total Thru	Proposed Budget	
	FY2021	FY2022	FY 2023	1/31/23	8 Months	9/30/23	FY 2024	

Irrigation
Irrigation Repairs & Maintenance	

$	10,894	

$	56,973	

$	25,000	

$	10,922	

14,078	

$	25,000		
Irrigation Monitoring	5,616	6,163	6,287	2,146	4,192	6,338		
Hoover Pumps Repairs & Maintenance	11,936	18,398	17,500	8,045	9,455	17,500		
Irrigation Subtotal	$	28,446	$	81,533	$	48,787	$	21,113	$	27,724	$	48,838	$	-	

Lakes & Fountains
Aquatic Maintenance	

$	6,480	

$	6,060	

$	5,733	

$	2,190	

4,240	

$	6,430		
Fountain Service Repairs & Maintenance	13,285	10,725	9,000	5,617	3,383	9,000		
Lakes & Fountains Subtotal	$	19,765	$	16,785	$	14,733	$	7,807	$	7,623	$	15,430	$	-	

Landscaping
Landscaping Contracted Services	

$	75,405	

$	76,233	

$	80,375	

$	25,947	

52,000	

$	77,947		
Additional Landscaping Repairs & Maintenance	8,115	9,059	15,000	-	15,000	15,000		
Entrance Pot Plant Replacement	497	3,868	2,400	456	1,944	2,400		
Mulch	6,790	7,000	12,334	-	12,334	12,334		
Palm Tree Maintenance	17,655	19,730	14,000	-	14,000	14,000		
Oak Tree Maintenance	-	4,688	6,500	-	6,500	6,500		
Landscaping Subtotal	$	108,461	$	120,577	$	130,608	$	26,403	$	101,778	$	128,180	$	-	

Common Areas, Right of Ways & Perimeter Walls
Street Light Repairs & Maintenance	

$	3,587	

$	7,005	

$	9,000	

$	1,587	

6,000	

$	7,587		
Entrance Vehicular Gates Repairs & Maintenance	2,723	5,864	5,500	7,760	-	7,760		
Pedestrian Entry Gates & Walls Maintenance	1,671	3,400	8,000	4,142	3,858	8,000		
Common Area Repairs & Maintenance	4,736	18,153	12,000	1,943	8,000	9,943		
Sidewalk Cleaning	-	22,297	8,000	-	8,000	8,000		
Common Areas, Right of Ways & Perimeter Walls Subtotal	$	12,717	$	56,718	$	42,500	$	15,432	$	25,858	$	41,290	$	-	

Security Monitoring Services
Fire Detection Services	

$	1,204	

$	2,224	

$	2,252	

$	715	

1,609	

$	2,324		
Access Control Services	2,476	2,525	2,702	858	1,930	2,787		
Intrusion Services	1,340	1,483	1,649	523	1,178	1,701		
Security Monitoring Repairs & Maintenance	2,885	1,824	2,500	59	2,441	2,500		
Security Subtotal	$	7,906	$	8,056	$	9,102	$	2,155	$	7,158	$	9,313	$	-	

Utilities
Electric Services	

$	38,661	

$	42,938	

$	47,300	

$	14,578	

32,000	

$	46,578		
Telephone, Fax & Internet	2,792	3,304	3,300	1,245	2,288	3,532		
Water & Sewer Services	2,325	2,489	4,000	562	2,000	2,562		
Gate Kiosk Internet Services	2,728	2,280	2,850	770	1,600	2,370		
Utilities Subtotal	$	46,506	$	51,010	$	57,450	$	17,155	$	37,887	$	55,042	$	-	

Other
Contingency/Miscellaneous Expenditures	

$	5,771	

$	3,238	

$	7,500	

$	3,357	

5,000	

$	8,357		
Other Subtotal	$	5,771	$	3,238	$	7,500	$	3,357	$	5,000	$	8,357	$	-	
								
Operations & Maintenance Expenditures Total	$	364,395	$	487,131	$	485,374	$	157,375	$	308,482	$	465,857	$	-	
								
Total Expenditures	$	503,583	$	666,373	$	651,801	$	219,522	$	399,855	$	619,377	$	-	

Other Financing Uses								
Disaster Reserve Transfer Out	$	25,000	$	25,000	$	25,000	$	-	$	25,000	$	25,000		
Capital Reserve Transfer Out	129,196	54,524	136,947	$	-	$	136,947	136,947		
Roadway Reserve Transfer Out	-	100,000	50,000	-	$	50,000	50,000		
Total Other Financing Uses	$	154,196	$	179,524	$	211,947	$	-	$	211,947	$	211,947	$	-	
								
Total Expenditures & Reserves	$	657,779	$	845,897	$	863,748	$	219,522	$	611,802	$	831,324	$	-	
								
Net Change in Fund Balance	$	73,699	$	0	$	-	$	603,640	$  (569,649)	$	33,990	$	863,748	
					
FY23	
FY24	
Increase	
				Net Assessments	$	863,748	$	863,748	$	-	
Less: Discounts (6%)  $	(55,133) $	(55,133) $	-	

Gross Assessments  $

918,881  $

918,881  $	-

Gross O&M Per Unit	Increase
Townhomes	$	1,845.43	$	-	$	(1,845.43)	
Single Family	$	2,460.58	$	-	$	(2,460.58)	
Mid-Rise Condos	$	143.76	$	-	$	(143.76)	
High-Rise Condos	$	179.70	$	-	$	(179.70)	

Montecito
Community Development District
Capital Reserve Funds Fiscal Year 2024

	Adopted Budget	Actuals Thru	Projected Next	Projected Total Thru	Proposed Budget	
	FY 2023	1/31/23	8 Months	9/30/23	FY 2024	

Revenues						
Beginning Fund Balance	$	228,737	$	234,487	$	-	$	234,487	$	343,329	
Transfer In - Capital	136,947	-	136,947	136,947	-	
Transfer In - Disaster	25,000	-	25,000	25,000	-	
Transfer In - Roadway	50,000	-
.	50,000	50,000	-	
Total Revenues	$	440,684	$	234,487	$	211,947	$	446,434	$	343,329	

Expenditures						

Bank Fees	
$	756	
$	152	
$	368	
$	520	
$	-	
Capital Outlay - Landscaping	11,000	-	11,000	11,000	-	
Capital Outlay - Amenity Center	59,300	-	59,300	59,300	-	
Capital Outlay - Streets, Sidewalks, Walls & Gates	32,285	-	32,285	32,285	-	
Capital Outlay - Disaster Expenditures	-	-	-	-	-	
Capital Outlay - Roadway	-	-	-	-	-	
Total Expenditures	$	103,341	$	152	$	102,953	$	103,105	$	-	
						
Net Change in Fund Balance	$	337,343	$	234,335	$	108,994	$	343,329	$	343,329	

FY2024 Projected Fund Balances
Capital Reserves	43,534	
Disaster Reserves	150,000	
Roadway Reserves		149,795 	
Total Fund Balances	$	343,329