Fiscal Year 2018 Adopted Budget

Fiscal Year 2019 Adopted Budget

Rivers Edge 2 Community Development District

Rivers Edge 2

Community Development District

TABLE OF CONTENTS

General Fund	Page 1		
Budget			
Narrative	Page 2-3		

Rivers Edge 2

Community Development District

	Adopted		Adopted			
	FY 2018 Budget		FY 2019 Budget			
Revenues						
Developer Contributions	$48,150	$116,675			
Total Revenues						
	$48,150	$116,675			
Expenditures						
						
Administrative						
Engineering	$3,750	$15,000	(1)		
Arbitrage	$0	$600			
Dissemination Agent	$0	$3,500	(1)		
Attorney	$5,000	$20,000			
Annual Audit	$5,000	$5,000	(1)		
Trustee Fees	$0	$4,000			
Management Fees	$11,250	$45,000			
Construction Accounting	$0	$3,500			
Information Technology	$300	$1,200			
Telephone	$100	$300			
Postage	$375	$1,500			
Printing & Binding	$250	$1,000			
Insurance	$3,000	$5,800			
Legal Advertising	$3,500	$4,000			
Other Current Charges	$200	$600			
Office Supplies	$250	$1,000			
Dues, Licenses & Subscriptions	$175	$175			
Website design/compliance	$15,000	$4,500			
						
Total Expenditures	$48,150	$116,675			
Excess Revenues (Expenditures)						
	$0	$0			

(1)  Expenditures related to the issuance of Bonds.

Page 1

Rivers Edge 2

Community Development District

General Fund Budget

REVENUES:

Developer Contributions

The District will enter into a Funding Agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.

EXPENDITURES:

Administrative:

Engineering Fees

The District’s engineering firm, Proceser, Inc, will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Arbitrage

The District is required to annually have an arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.

Dissemination Agent

The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2) -12(b)(5), which relates to additional reporting requirements for un-rated bond issues.

Attorney

The District’s legal counsel, Hopping Green and Sams, will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Trustee Fees

The District will issue bonds to be held with a Trustee at a qualified Bank. The amount of trustee fees is based on the agreement between the bank and the District.

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Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. These services are further outlined in Exhibit “A” of the Management Agreement.

Construction Accounting

The District receives annual constriction account services as part of a Management Agreement with Governmental Management Services, LLC.

Information Technology

The cost related to District’s accounting and information systems.

Telephone

Telephone and fax machine.

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes, etc.

Insurance

The District’s General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance (FIA). The amount is based upon prior year’s premiums.

Legal Advertising

The District is required to advertise various notices for Board meetings, public hearings etc. in a newspaper of general circulation.

Other Current Charges

This includes bank charges and any other miscellaneous expenses that are incurred during the year by the District.

Office Supplies

Miscellaneous office supplies.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Department of Community Affairs for $175. This is the only expense under this category for the District.

Website Design/Compliance

Cost related to District website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.

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