Rivers Edge II
Community Development District

Adopted Budget FY2021

Rivers Edge II
Community Development District

TABLE OF CONTENTS

General Fund Budget	Page 1-2

General Fund Narrative	Page 3-8

Series 2020 Debt Service Fund Budget	Page 9

Series 2020 Amortization Schedule	Page 10-11

	Adopted
Budget	Actuals
as of	Projected
Next 3	Total
Projected	Adopted
Budget	
Description	FY2020	6/30/20	Months	9/30/20	FY2021	

Revenues						
Assessments	$	-	$	-	$	-	$	-	$	190,300	
Developer Contributions	$ 1,233,801	$ 1,410,619	$	-	$ 1,410,619	$ 1,129,450	
Café Revenues	$ 200,000	$	71,216	$	5,000	$	76,216	$	200,000	
Special Events	$	7,000	$	5,115	$	-	$	5,115	$	7,000	
Miscellaneous Income	$	-	$	280	$	-	$	280	$	-	
Total Revenues	$ 1,440,801	$1,487,229	$	5,000	$ 1,492,229	$ 1,526,750	

Expenditures						
Administrative Engineering	
$	15,000	
$	7,252	
$	2,000	
$	9,252	
$	15,000	
Arbitrage	$	600	$	-	$	600	$	600	$	600	
Dissemination Agent	$	3,500	$	2,625	$	875	$	3,500	$	3,500	
Attorney	$	20,000	$	51,877	$	10,000	$	61,877	$	22,244	
Annual Audit	$	5,000	$	4,600	$	-	$	4,600	$	5,000	
Trustee Fees	$	4,000	$	-	$	3,500	$	3,500	$	4,000	
Management Fees	$	30,000	$	22,500	$	7,500	$	30,000	$	30,000	
Construction Accounting	$	3,500	$	-	$	500	$	500	$	3,500	
Information Technology	$	1,200	$	900	$	300	$	1,200	$	1,200	
Telephone	$	300	$	22	$	25	$	47	$	300	
Postage	$	1,500	$	5	$	100	$	105	$	1,500	
Printing & Binding	$	1,000	$	1,325	$	450	$	1,775	$	1,500	
Insurance	$	5,251	$	5,824	$	-	$	5,824	$	5,638	
Legal Advertising	$	4,000	$	2,227	$	242	$	2,469	$	4,000	
Other Current Charges	$	600	$	527	$	180	$	707	$	750	
Office Supplies	$	1,000	$	69	$	45	$	114	$	850	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Website design/compliance	$	4,500	$	3,375	$	1,125	$	4,500	$	4,500	
Total Administrative	$ 101,126	$ 103,302	$ 27,442	$	130,744	$	104,257	

Grounds Maintenance
Cost Share Landscaping- Rivers Edge	

$ 471,820	

$ 471,820	

$	-	

$	471,820	

$	549,948	
Landscape Maintenance	$ 156,295	$	98,081	$	27,137	$	125,217	$	164,546	
Landscape Replacements	$	500	$	-	$	250	$	250	$	500	
Total Grounds Maintenance	$ 628,615	$ 569,901	$ 27,387	$	597,287	$	714,994	

	Adopted
Budget	Actuals
as of	Projected
Next 3	Total
Projected	Adopted
Budget	
Description	FY2020	6/30/20	Months	9/30/20	FY2021	

Amenity Center- River House						
Cost Share Amenity- Rivers Edge	$	13,847	$	13,847	$	-	$	13,847	$	13,418	
General & Lifestyle Manager (Vesta)	$ 177,548	$ 118,047	$	59,501	$	177,548	$	177,548	
Field Operations Management (Vesta)	$	31,673	$	23,754	$	7,918	$	31,673	$	31,673	
Security Monitoring	$	5,000	$	-	$	2,500	$	2,500	$	5,000	
Telephone	$	11,400	$	9,059	$	2,424	$	11,483	$	10,260	
Insurance	$	46,590	$	47,797	$	-	$	47,797	$	53,591	
General Facility & Common Grounds Maint (Vesta)	$	42,000	$	31,500	$	10,500	$	42,000	$	42,000	
Pool Maintenance(Vesta)	$	18,225	$	13,669	$	4,556	$	18,225	$	18,225	
Pool Chemicals(Poolsure)	$	6,775	$	6,217	$	2,072	$	8,289	$	8,343	
Pool Chemicals	$	10,000	$	-	$	-	$	-	$	-	
Janitorial Services (Vesta)	$	16,133	$	12,099	$	4,033	$	16,132	$	16,133	
Window Cleaning	$	3,500	$	-	$	1,000	$	1,000	$	3,500	
Natural Gas	$	1,200	$	1,175	$	547	$	1,722	$	2,050	
Electric	$	23,000	$	10,611	$	3,822	$	14,433	$	20,000	
Sewer/Water/Irrigation	$	50,000	$	15,613	$	5,028	$	20,641	$	40,000	
Repair and Replacements	$	5,000	$	18,216	$	3,000	$	21,216	$	10,000	
Refuse	$	5,340	$	6,249	$	2,100	$	8,349	$	6,150	
Pest Control	$	1,140	$	1,291	$	480	$	1,771	$	1,920	
License/Permits	$	1,500	$	350	$	250	$	600	$	1,500	
Other Current	$	1,000	$	983	$	250	$	1,233	$	1,000	
Special Events	$	10,000	$	18,516	$	2,500	$	21,016	$	15,000	
Holiday Decorations	$	11,000	$	-	$	-	$	-	$	11,000	
Office Supplies/Postage	$	500	$	377	$	150	$	527	$	500	
Café Costs- labor/food/beverage/COGS	$ 218,690	$	87,219	$	5,000	$	92,219	$	218,690	
Capital Expenditures	$	-	$	14,900	$	-	$	14,900	$	-	
Total Amenity Center- River House	$ 711,060	$ 451,487	$ 117,631	$	569,119	$	707,500	
						
Total Expenditures	$ 1,440,801	$1,124,690	$ 172,460	$ 1,297,150	$ 1,526,750	
						
Excess Revenues (Expenditures)	$	-	$ 362,540	$(167,460)	$	195,079	$	-	
						
		Lot		Per	Gross	
		Size	Units	Unit	Assessments	
		30'-39' Lot	24	$	837.28	$	20,095	
		40'-49' Lot	79	$	999.34	$	78,948	
		50'-59' Lot	30	$	1,174.90	$	35,247	
		70'-79' Lot	21	$	1,620.55	$	34,032	
		80'+ Lot	19	$	1,796.11	$	34,126	
Total Gross Assessments	$	202,447	
Less: Discounts 6%	   $	12,147 	
Total Net Assessments	   $	190,300 	

REVENUES:

Assessments
The District will levy a non ad-valorem special assessment on all taxable property within the District to fund a portion of the General Operating Expenditures for the fiscal year. These are collected on the St. Johns County Tax Roll for platted lands. Unplatted lands are direct billed to the landowner.

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

Café Revenue
Income received from café food and beverage sales net of cost of goods sold.

Special Events
Income received from residents/non-residents for the rental of the facilities for special events.

EXPENDITURES:

Administrative:

Engineering Fees
The District’s engineering firm, Prosser, 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.

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.

Grounds Maintenance:

Cost Share- Landscaping Rivers Edge
Shared costs with Rivers Edge CDD for landscaping. Cost share is based on future development and estimated costs.

Landscape Maintenance
The District contracted with Verdego to maintain the common areas of the District and Amenity Center.
Vendor	Description	Monthly	Annual	

Verdego	
CDD Landscape Maintenance	
$	9,046	
$ 108,546	
Verdego	New contracts		$	56,000	
Total			$ 164,546	

Landscape Replacement
A provision for additional landscape features or for repair of existing landscaping.

Amenity Center- River Club:

Cost Share- Amenity Rivers Edge
Shared costs with Rivers Edge CDD for amenities. Cost share is based on future development and estimated costs.

General & Lifestyle Manager (Vesta)
The District has contracted with Vesta Property Services, Inc to provide general amenity management, facility administration, special event coordinator services, and hospitality staffing at the Amenity Center.

Vendor	Description	Monthly	Annual	

Vesta	
General & Lifestyle Manager	
$	2,790	
$	33,475	
Vesta	Facility Staff	$	2,639	$	31,673	
Vesta	Hospitality Staff	$	9,367	$ 112,400	
Total			$ 177,548	

Field Operations Management (Vesta)
The District has contracted with Vesta Property Services, Inc to provide field operations management to oversee all day-to-day operation of all the Districts assets, common grounds, and service providers.

Vendor	Description	Monthly	Annual

Vesta	Field Operations Management	$

2,639	$

31,673

Total	$	31,673

Security Monitoring
Maintenance costs of the security alarms/cameras.

Telephone
The estimated cost for telephone, internet, and cable services for the Amenity Center.

Vendor	Description	Monthly	Annual	

Comcast	
Internet & Cable	
$	480	
$	5,760	
Comcast	Telephone	$	375	$	4,500	
Total			$ 10,260	

Insurance
The District’s General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance (FIA). The amount is based upon estimated premium for property insurance related to the Amenity and other District facilities.

General Facility & Common Grounds Maintenance (Vesta)
The District has contracted with Vesta Property Services, Inc to provide maintenance and repairs necessary for upkeep of the Amenity Center and common grounds area.

Vendor	Description	Monthly	Annual

Vesta

General Facility& Common Grounds Maintenance

$	3,500	$

42,000

Total	$	42,000

Pool Maintenance (Vesta)
The District has contracted with Vesta Property Services, Inc to provide maintenance of the Amenity Center swimming pools.

Vendor	Description	Monthly	Annual

Vesta	Pool Maintenance

$	1,519 $

18,225

Total	$	18,225

Pool Chemicals (Poolsure)
The District has contracted with Poolsure to provide chemicals for the Amenity Center swimming pools.

Vendor	Description	Monthly	Annual

Poolsure	Pool Chemicals

$	695	$

8,343

Total	$	8,343

Janitorial Services (Vesta)
The District has contracted with Vesta Property Services, Inc to provide janitorial cleaning for the Amenity Center.

Vendor	Description	Monthly	Annual

Vesta	Janatorial Services

$	1,344	$

16,133

Total	$	16,133

Window Cleaning
The District will have windows cleared inside and outside three times a year.

Propane Gas
The District is under contract with TECO Peoples Gas to provide gas fire place and gas grills.

Electric
Estimated costs for electric billed to the District by FPL.
Location	Meter Number	Monthly	Annual	
156 Riverglade Run	2187961384	$	12	$	150	
160 Riverglade Run	7930174359	$	1,243	$ 14,917	
154 Riverglade Run	778654350	$	19	$	223	
Contingency for new accounts		$	393	$	4,711	
Total		$ 1,667	$ 20,000	

Sewer/Water/Irrigation
Estimated costs for sewer, water, and irrigation for the amenity center billed to the District by JEA.
Location	Meter Number	Monthly	Annual	
160 Riverglade Run	84087156	$111	$1,332	
298 Riverglade Run	83547180	$463	$5,558	
160 Riverglade Run -Sewer	84087139	$186	$2,236	
160 Riverglade Run -Water	84087139	$916	$10,989	
Contingency for new accounts		$1,657	$19,885	
Total		$3,333	$40,000	

Repairs and Replacements
Represents regular cleaning, supplies, and repairs and replacements for District’s Amenity Center.

Refuse
Garbage disposal services for the Amenity Centers provided by Republic Services.

Pest Control
The District is contracted with Turner’s Pest Control to provide pest control services.

Vendor	Description	Monthly	Annual

Turners Pest Control  Pest Control	$ Nadars Pest Raiders Termite Coverage $

95	$
65	$

1,140
780

Total	$	1,920

License/Permits
Represents license fees for the amenity center and permit fees paid to the Florida Department of Health in St. Johns County for the swimming pools.

Other Current
Represents the miscellaneous cost incurred by the District’s Amenity Center.

Special Events
Represents estimated costs for the District to host special events for the community through the Fiscal Year.

Office Supplies/Postage
Costs of supplies and postage incurred for the operation of the Amenity Center.

Café Costs- labor/food/beverage/other
Cost related to operating the café

Rivers Edge II
Community Development District
Series 2020 Debt Service Budget

	Approved	Actuals	Total	Adopted
Budget	as of	Projected	Budget	
Description	FY2020	6/30/20	9/30/20	FY2021	

Revenues		
Special Assessments	$	-	$	-	$	-	$	463,416	
Interest Income	$	500	$	5	$	25	$	1,000	
Bond Proceeds	$	386,204	$	-	$	386,204	$	-	
Carryforward Surplus	$	-	$	-	$	-	$	155,045	
Total Revenues	   $	386,704	$	5.12	$	386,229	$	619,461 	
Expenditures		
Interest Expense 11/1	$	-	$	-	$	-	$	154,545	
Principal Expense 5/1	$	-	$	-	$	-	$	115,000	
Interest Expense 5/1	$	-	$	-	$	-	$	174,956	
Total Expenditures	   $	-	$	-	$	-	$	444,501 	
Excess Revenues/(Expenditures)	   $	386,704	$	5	$	386,229	$	174,960 	
	
Interest Payment 11/1/21 $ 172,656.25	
		Gross	Gross	
Development	Units	Per Unit	Assessments	

30'-39' Lot	
96	
$696	
$66,816	
40'-49' Lot	248	$900	$223,200	
50'-59' Lot	126	$1,104	$139,104	
70'-79' Lot	21	$1,500	$31,500	
80'+ Lot	19	$1,704	$32,376	
Gross Total			$492,996	
Less Disc. +	Collections 6%		($29,580)	
Net Annual	Assessment		$463,416	

11/01/20			$154,545	$	154,545	
05/01/21	$7,165,000	$115,000	$174,956		
11/01/21			$172,656	$	462,613	
05/01/22	$7,050,000	$120,000	$172,656		
11/01/22			$170,256	$	462,913	
05/01/23	$6,930,000	$125,000	$170,256		
11/01/23			$167,756	$	463,013	
05/01/24	$6,805,000	$130,000	$167,756		
11/01/24			$165,156	$	462,913	
05/01/25	$6,675,000	$135,000	$165,156		
11/01/25			$162,456	$	462,613	
05/01/26	$6,540,000	$140,000	$162,456		
11/01/26			$159,446	$	461,903	
05/01/27	$6,400,000	$145,000	$159,446		
11/01/27			$156,329	$	460,775	
05/01/28	$6,255,000	$150,000	$156,329		
11/01/28			$153,104	$	459,433	
05/01/29	$6,105,000	$160,000	$153,104		
11/01/29			$149,664	$	462,768	
05/01/30	$5,945,000	$165,000	$149,664		
11/01/30			$146,116	$	460,780	
05/01/31	$5,780,000	$175,000	$146,116		
11/01/31			$141,829	$	462,945	
05/01/32	$5,605,000	$180,000	$141,829		
11/01/32			$137,419	$	459,248	
05/01/33	$5,425,000	$190,000	$137,419		
11/01/33			$132,764	$	460,183	
05/01/34	$5,235,000	$200,000	$132,764		
11/01/34			$127,864	$	460,628	
05/01/35	$5,035,000	$210,000	$127,864		
11/01/35			$122,719	$	460,583	
05/01/36	$4,825,000	$220,000	$122,719		
11/01/36			$117,329	$	460,048	
05/01/37	$4,605,000	$230,000	$117,329		
11/01/37			$111,694	$	459,023	
05/01/38	$4,375,000	$245,000	$111,694		
11/01/38			$105,691	$	462,385	
05/01/39	$4,130,000	$255,000	$105,691		
11/01/39			$99,444	$	460,135	

05/01/40	$3,875,000	$270,000	$99,444		
11/01/40			$92,829	$	462,273	
05/01/41	$3,605,000	$285,000	$92,829		
11/01/41			$85,490	$	463,319	
05/01/42	$3,320,000	$300,000	$85,490		
11/01/42			$77,765	$	463,255	
05/01/43	$3,020,000	$315,000	$77,765		
11/01/43			$69,654	$	462,419	
05/01/44	$2,705,000	$330,000	$69,654		
11/01/44			$61,156	$	460,810	
05/01/45	$2,375,000	$345,000	$61,156		
11/01/45			$52,273	$	458,429	
05/01/46	$2,030,000	$365,000	$52,273		
11/01/46			$42,874	$	460,146	
05/01/47	$1,665,000	$385,000	$42,874		
11/01/47			$32,960	$	460,834	
05/01/48	$1,280,000	$405,000	$32,960		
11/01/48			$22,531	$	460,491	
05/01/49	$875,000	$425,000	$22,531		
11/01/49			$11,588	$	459,119	
05/01/50	$450,000	$450,000	$11,588		
11/01/50				$	461,588	

 	$7,165,000  $6,827,121   $	13,992,121