Rivers Edge II

Community Development District

Adopted Budget
FY2026

Presented by:

Table of Contents

1-2

3-7

8-9

10-11

12

	General Fund

	Narratives

	Debt Service Fund Series 2020

	Debt Service Fund Series 2021

	Capital Reserve Fund

13		Assessment Schedule

REVENUES:		
Special Assessments - Tax Roll	$	1,055,360	$	1,062,090	$	-	$	1,062,090	$	1,266,432	
Special Assessments - Direct Bill	185,789	185,789	-	185,789	185,789	
Administrative Assessments on Unplatted Land	-	-	-	-	60,606	
Developer Contributions	1,286,220	870,785	256,686	1,127,471	996,043	
Café Gross Sales	517,856	661,564	240,000	901,564	554,106	
Miscellaneous Income	5,000	-	500	500	1,500	
Special Events	-	919	250	1,169	3,500	
Insurance Proceeds	-	52,859	-	52,859	-	
Interest	5,000	6,284	1,500	7,784	5,000	
Cost Share Amenity - Rivers Edge III	-	3,896	-	3,896	-	
TOTAL REVENUES	$ 3,055,225	$ 2,844,186	$	498,936	$ 3,343,122	$ 3,072,977	

EXPENDITURES:						
Administrative						
Supervisor Fees	$	-	$	3,400	$	1,800	$	5,200	$	4,800	
FICA Taxes	-	260	138	398	367	
District Engineering	15,000	14,326	674	15,000	15,000	
District Counsel	30,000	21,031	8,969	30,000	35,000	
District Management	39,326	29,495	9,831	39,326	41,292	
Construction Accounting	3,710	-	3,710	3,710	-	
Assessment Roll Administration	5,618	5,618	-	5,618	5,899	
Dissemination Agent	5,618	5,364	254	5,618	5,899	
Information Technology	2,022	1,516	506	2,022	2,124	
Website Administration	1,348	1,011	337	1,348	1,416	
Annual Audit	5,000	-	5,000	5,000	5,500	
Trustee Fees	10,000	3,081	6,919	10,000	11,000	
Arbitrage Rebate	1,200	-	1,200	1,200	1,200	
Telephone	200	44	156	200	200	
Postage & Deleivery	500	677	150	827	1,000	
Printing & Binding	250	242	8	250	250	
Insurance General Liability	7,961	7,745	-	7,745	8,713	
Legal Advertising	2,500	2,063	1,437	3,500	3,500	
Other Current Charges	500	10	490	500	1,750	
Office Supplies	150	6	144	150	150	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$	131,079	$	96,064	$	41,724	$	137,788	$	145,235	

Operations & Maintenance						
Grounds Maintenance						
Cost Share Landscaping - Rivers Edge	$	801,623	$	601,217	$	200,406	$	801,623	$	500,283	
Field Operations Management (Vesta)	39,438	29,579	9,860	39,438	41,230	
Landscape Maintenance	424,716	315,805	108,911	424,716	429,489	
Lake Maintenance	23,000	20,978	2,022	23,000	28,000	
Landscape Contingency	80,000	122,269	30,000	152,269	80,000	
Irrigation Repairs and Replacement	37,000	43,060	5,000	48,060	40,000	
Irrigation Water Use	70,000	34,222	35,778	70,000	70,000	
Streetlighting	28,000	19,076	8,924	28,000	28,000	
TOTAL GROUNDS MAINTENANCE	$ 1,503,777	$ 1,186,207	$	400,900	$ 1,587,106	$ 1,217,002	

Amenity Center - River Club						
Cost Share Amenity - Rivers Edge	$	88,478	$	66,359	$	22,119	$	88,478	$	2,365	
General Manager (Vesta)	46,793	36,247	10,546	46,793	48,911	
Amenity Manager (Vesta)	29,632	22,224	7,408	29,632	56,504	
Maintenance Service (Vesta)	103,123	77,342	25,781	103,123	109,264	
Lifestyle Director (Vesta)	43,329	32,497	10,832	43,329	45,426	
Facilities Attendant (Vesta)	113,852	85,389	28,463	113,852	-	
Guest Services (Vesta)	-	-	-	-	97,381	
Security Monitoring	5,000	315	4,685	5,000	5,000	
Telephone	12,721	11,026	1,694	12,721	14,040	
Insurance	78,540	73,323	-	73,323	79,689	
Pool Chemicals (Poolsure)	10,000	10,259	3,600	13,859	15,000	
Janitorial Services (Vesta)	32,875	24,656	8,219	32,875	34,833	
Access Cards	3,500	-	3,500	3,500	3,500	
Window Cleaning	3,500	-	3,500	3,500	1,000	
Pressure Washing	-	-	2,500	2,500	2,500	
Natural Gas	4,000	4,171	1,350	5,521	5,000	
Electric	28,000	18,378	9,622	28,000	29,950	
Water & Sewer	17,000	11,033	5,967	17,000	18,395	
Repair and Replacements	75,000	78,959	15,000	93,959	90,000	
Refuse	20,000	16,853	3,147	20,000	26,000	
Pest Control	1,920	1,470	450	1,920	1,920	
License & Permits	1,000	350	650	1,000	1,000	
Other Current	500	-	500	500	500	
Special Events	30,000	23,866	6,134	30,000	30,000	
Holiday Decorations	23,000	14,150	8,850	23,000	35,000	
Office Supplies & Postage	750	295	455	750	750	
Contingency	5,000	1,305	2,000	3,305	2,706	
TOTAL AMENITY CENTER - RIVER CLUB	$	777,513	$	610,469	$	186,970	$	797,439	$	756,634	

Café Operations						
Café-Cost of Goods Sold	$	239,259	$	233,148	$	6,111	$	239,259	$	256,008	
Café-Labor	241,176	310,810	96,000	406,810	258,058	
Café-Bank Fees	22,631	25,930	9,000	34,930	24,215	
Other Expenses related to Café Operations	2,550	860	1,690	2,550	2,729	
Café Management	12,240	-	12,240	12,240	13,097	
TOTAL CAFÉ OPERATIONS	$	517,856	$	570,748	$	125,041	$	695,789	$	554,106	

Reserves						
General Reserves	$	125,000	$	25,000	$	100,000	$	125,000	$	400,000	
TOTAL RESERVES	$	125,000	$	25,000	$	100,000	$	125,000	$	400,000	
						
TOTAL EXPENDITURES	$ 3,055,225	$ 2,488,488	$	854,635	$ 3,343,122	$ 3,072,977	
						
EXCESS REVENUES (EXPENDITURES)	$	0	$	355,699	$  (355,699)	$	(0)	$	0	

REVENUES

Special Assessments - Tax Roll
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.
Special Assessments - Direct Bill
The District will levy a non ad-valorem special assessments on unplatted lands within the District and are allocated upon the percentage of such undeveloped units planned relative to the budgeted General Administrative costs of the District.
Developer Contributions
The District will enter into a Funding Agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.
Café Gross Sales
Gross sales revenue from Café operations.
Miscellaneous Income
Income received from access cards, rental fees, miscellaneous deposits, insurance claims, and the recreational program revenue.
Interest
The District will have funds invested in State Board of Administration and a money market fund with U.S. Bank that earns interest based upon the estimated balance invested throughout the year.

Expenditures - Administrative

Supervisors Fees
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting in which they attend.
FICA Taxes
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.
District Engineering
The District's engineer Prosser, Inc, will provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review of invoices, and other specifically requested assignments.
District Counsel
The District’s Attorney, Kilinski Van Wyk, PLLC, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.
District Management
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.
Assessment Roll Administration
GMS, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
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.
Information Technology
Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.
Website Administration
Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.
Annual Audit
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The District has contracted with Berger Toombs to conduct this annual audit, with the budgeted amount representing the estimated cost.
Trustee Fees
The District bonds will be held and administered by a Trustee. This represents the trustee annual fee.
Arbitrage Rebate
The District is required to annually have an arbitrage rebate calculation on the District’s Series 2021 Special Assessment Improvement Revenue Bonds. The District has contracted with Grau and Associates to calculate the rebate liability and submit a report to the District.

Expenditures - Administrative (continued)

Telephone
New internet and Wi-Fi service for Office.
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.

Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.
Insurance General Liability
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon estimated premiums.
Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.
Other Current Charges
This includes monthly bank charges, BOS email annual subscriptions, and any other miscellaneous expenses that incur during the year.
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.
Due, Licenses & Subscriptions

Expenditures – Grounds Maintenance

The District is required to pay an annual fee to the Florida Department of Commerce for $175.

Cost Share Landscaping - Rivers Edge
Shared costs with Rivers Edge CDD for landscaping. Cost share is based on future development and estimated costs.
Field Operations Management
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 OP Management	$	3,436  $	41,230	
Landscape Maintenance
The District contracted with Yellowstone to maintain the common areas of the District and Amenity Center.
Vendor	Description	Monthly	Annual

Lake Maintenance

YellowStone	Landscape Maintenance $

35,791  $

429,489

The District receives lake maintenance services from Solitude Lake Management LLC.

Vendor	Description		Monthly	Annual	
Solitude Lake Management	Lake Maintenance	$	1,718	$	20,616	
Solitude Lake Management	Additional Cleanup			2,384	
	Contingency			5,000	
	Total			$	28,000	
Landscape Contingency
A provision for additional landscape features or for repair of existing landscaping.
Irrigation Repair & Replacement
The cost of miscellaneous irrigation repairs and maintenance incurred.

Expenditures – Grounds Maintenance (continued)

Irrigation Water Use
Water and re-use water needed for irrigation and maintenance of the common grounds provided by JEA.
Location	Meter Number	Monthly	Annual		
114 Mistflower Dr	94647734	1,800	21,600		
41 Keystone Corners BV	86131615	600	7,200		
233 Shinnecock Drive	95047077	400	4,800		
98 Shinnecock Drive	87743236	800	9,600		
380 SHINNECOCK DR APT IR01	41263874	50	600		
29 Mistlflower Drive	89241080	50	600		
907 Keystone Corners BV Apt IR01	98557860	200	2,400		
627 Keystone Corners BV APT IR01	86131621	1,679	20,149		
Contingency		254	3,051		
Total		$	5,833	$	70,000		

Streetlighting
Estimated costs for electric billed to the District by FPL.					
Location	Meter Number	Monthly	Annual	
156 Riverglade Run	9420049059	$	37	$	448	
154 Riverglade Run	6707560121	29	347	
53 Mistflower Dr #FNTN	4743506067	865	10,381	
233 SHINNECOCK DR #IRR	0162048490	26	314	
106 Keystone Corners Blvd #LTG	7652214334	87	1,040	
27 Keystone Corners Blvd #ENTRY	9019709360	1,184	14,204	
Contingency		106	1,266	
Total		$	2,333	$	28,000	
Expenditures – 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 Manager
The District has contracted with Vesta Property Services, Inc to provide general amenity management, facility administration, and special event coordinator services at the Amenity Center.
Vendor	Description	Monthly	Annual

Amenity Manager

Vesta	General Manager

$	4,076  $

48,911

The District contracted with Vesta Property Services to provide management services for the Amenity Center.
Maintenance Services
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

Lifestyle Director

Vesta	Maintenance Service	$

9,105  $

109,264

The District has contracted with Vesta Property Services, Inc to provide planning, implementation, and supervision of the day-to- day social, recreational group activities and entertainment for the residents living at the community.
Guest Services
The District has contracted with Vesta to provide community facility staff for the amenity center to greet patrons, providing facility tours, issuance of access cards and policy enforcement.
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	Amenity Cntr

$	610  $

7,320

Comcast	Office	560 	6,720 

Insurance

Total

$	14,040

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.

Pool Chemicals
The District has contracted with Poolsure to provide chemicals for the Amenity Center swimming pools.
Vendor	Description	Monthly	Annual

Janitorial Services

Poolsure	Pool Chemicals

$	1,250  $

15,000

The District has contracted with Vesta Property Services, Inc to provide janitorial cleaning for the Amenity Center.
Vendor	Description	Monthly	Annual

Access Cards

Vesta	Janitorial Services

$	2,903  $

34,833

Represents the estimated cost for access cards to the District’s Amenity Center.
Window Cleaning
The District will have windows cleared inside and outside three times a year.
Pressure Washing
Estimated costs to have the District Amenity Center pressure washed.
Natural 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

160 Riverglade Run	5975385542

$	2,228  $

26,736

Contingency		268	3,214 

Water & Sewer

Total

$	2,496  $

29,950

Estimated costs for water and sewer for the amenity center billed to the District by JEA.
Location	Meter Number	Monthly	Annual	
160 Riverglade Run-Swimming Pool	84087156	$	118	$	1,414	
160 Riverglade Run-Sewer	84087139	526	6,312	
160 Riverglade Run-Water	84087139	205	2,456	
298 Riverglade Run	83547180	381	4,578	
Contingency		303	3,636 

Repairs and Replacements

Total

$	1,533  $

18,395

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.
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.
Holiday Decorations
Represents estimated costs for the District to decorate the Amenity center for the holidays.
Office Supplies & Postage
Costs of supplies and postage incurred for the operation of the Amenity Center.
Contingency
Estimated costs for future unexpected costs incurred by the district.

Expenditures – Café Operations

Cost of Goods Sold (“COGS”)
Food and beverage costs along with supply incidentals.
Labor
Staffing costs for Vesta personnel Café operations.
Bank fees
Bank and credit card processing charges related to the Cafe sales.
Other Expenses related to Café Operations
Represents the miscellaneous cost incurred by the Café.
Café Management
Represents management services for the Café.

Expenditures – Reserves

General Reserves
Establishment of general reserves to fund future replacements of capital items.

Adopted Budget
Debt Service Series 2020 Capital Improvement Revenue Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY 2025	6/30/25		3 Months		9/30/25	FY 2026	

REVENUES:							

Special Assessments - Tax Roll	
$	462,928	
$	462,191	
$	737	
$	462,928	
$	462,928	
Special Assessments - Prepayment	-	11,217	-	11,217	-	
Interest Earnings	5,000	21,519	1,500	23,019	5,000	
Carry Forward Surplus (1)	318,060	330,945	-	330,945	346,655	
TOTAL REVENUES	$	785,987	$	825,871	$	2,237	$	828,108	$	814,583	

EXPENDITURES:					
Interest - 11/1	$	163,321	$	163,321	$	-  $	163,321	$	160,111	
Principal Prepayment - 11/1	-	5,000	-	5,000	-	
Principal Prepayment - 2/1	-	5,000	-	5,000	-	
Interest - 2/1	-	61	-	61	160,111	
Interest - 5/1	163,321	163,070	-	163,070	-	
Principal - 5/1	130,000	130,000	-	130,000	135,000	
Principal Prepayment - 5/1	-	15,000	-	15,000	-	
TOTAL EXPENDITURES	$	456,643	$	481,453	$	-  $	481,453	$	455,223	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	456,643	$	481,453	$	-	$	481,453	$	455,223	
						
EXCESS REVENUES (EXPENDITURES)	$	329,345	$	344,419	$	2,237	$	346,655	$	359,361	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/26

 $	157,209 

AMORTIZATION SCHEDULE
Debt Service Series 2020 Capital Improvement Revenue Bonds

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
						
11/01/25	$	6,445,000	4.300%	$	160,111	$	160,111	
05/01/26	6,445,000	4.300% $	135,000	160,111		
11/01/26	6,310,000	4.300%		157,209	452,320.00	
05/01/27	6,310,000	4.300%	145,000	157,209		
11/01/27	6,165,000	4.300%		154,091	456,300.00	
05/01/28	6,165,000	4.300%	150,000	154,091		
11/01/28	6,015,000	4.300%		150,866	454,957.50	
05/01/29	6,015,000	4.300%	155,000	150,866		
11/01/29	5,860,000	4.300%		147,534	453,400.00	
05/01/30	5,860,000	4.300%	160,000	147,534		
11/01/30	5,700,000	4.900%		144,094	451,627.50	
05/01/31	5,700,000	4.900%	170,000	144,094		
11/01/31	5,530,000	4.900%		139,929	454,022.50	
05/01/32	5,530,000	4.900%	180,000	139,929		
11/01/32	5,350,000	4.900%		135,519	455,447.50	
05/01/33	5,350,000	4.900%	190,000	135,519		
11/01/33	5,160,000	4.900%		130,864	456,382.50	
05/01/34	5,160,000	4.900%	195,000	130,864		
11/01/34	4,965,000	4.900%		126,086	451,950.00	
05/01/35	4,965,000	4.900%	205,000	126,086		
11/01/35	4,760,000	4.900%		121,064	452,150.00	
05/01/36	4,760,000	4.900%	220,000	121,064		
11/01/36	4,540,000	4.900%		115,674	456,737.50	
05/01/37	4,540,000	4.900%	230,000	115,674		
11/01/37	4,310,000	4.900%		110,039	455,712.50	
05/01/38	4,310,000	4.900%	240,000	110,039		
11/01/38	4,070,000	4.900%		104,159	454,197.50	
05/01/39	4,070,000	4.900%	250,000	104,159		
11/01/39	3,820,000	4.900%		98,034	452,192.50	
05/01/40	3,820,000	4.900%	265,000	98,034		
11/01/40	3,555,000	5.150%		91,541	454,575.00	
05/01/41	3,555,000	5.150%	280,000	91,541		
11/01/41	3,275,000	5.150%		84,331	455,872.50	
05/01/42	3,275,000	5.150%	295,000	84,331		
11/01/42	2,980,000	5.150%		76,735	456,066.25	
05/01/43	2,980,000	5.150%	310,000	76,735		
11/01/43	2,670,000	5.150%		68,753	455,487.50	
05/01/44	2,670,000	5.150%	325,000	68,753		
11/01/44	2,345,000	5.150%		60,384	454,136.25	
05/01/45	2,345,000	5.150%	340,000	60,384		
11/01/45	2,005,000	5.150%		51,629	452,012.50	
05/01/46	2,005,000	5.150%	360,000	51,629		
11/01/46	1,645,000	5.150%		42,359	453,987.50	
05/01/47	1,645,000	5.150%	380,000	42,359		
11/01/47	1,265,000	5.150%		32,574	454,932.50	
05/01/48	1,265,000	5.150%	400,000	32,574		
11/01/48	865,000	5.150%		22,274	454,847.50	
05/01/49	865,000	5.150%	420,000	22,274		
11/01/49	445,000	5.150%		11,459	453,732.50	
05/01/50	445,000	5.150%	445,000	11,459	456,458.75	
Total		$	6,445,000  $	5,074,618	$  11,519,618	

Adopted Budget
Debt Service Series 2021 Capital Improvement Revenue Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY 2025	6/30/25		3 Months		9/30/25	FY 2026	

REVENUES:							

Special Assessments -Tax Roll	
$	305,842	
$	306,283	
$	-	
$	306,283	
$	305,887	
Special Assessments - Direct	245,810	245,811	-	245,811	245,810	
Special Assessments - Prepayment	-	873,878	-	873,878	-	
Interest Income	5,000	28,527	2,000	30,527	5,000	
Carry Forward Surplus (1)	241,052	259,218	-	259,218	282,848	
TOTAL REVENUES	$	797,704	$ 1,713,717	$	2,000	$  1,715,717	$	839,546	

EXPENDITURES:						
Interest - 11/1	$	168,220	$	167,945	$	-	$	167,945	$	149,075	
Principal Prepayment - 11/1	-	5,000	-	5,000	-	
Principal Prepayment - 2/1	-	875,000	-	875,000	-	
Interest - 2/1	-	7,921	-	7,921	-	
Interest - 5/1	168,220	152,003	-	152,003	149,075	
Principal - 5/1	215,000	195,000	-	195,000	200,000	
Principal Prepayment - 5/1	-	30,000	-	30,000	-	
TOTAL EXPENDITURES	$	551,440	$ 1,432,869	$	-	$  1,432,869	$	498,150	

Other Sources/(Uses)

Interfund transfer In/(Out)

$	-  $

-  $	-  $

-  $	-

TOTAL OTHER SOURCES/(USES)

$

-  $

-  $

-  $

-  $

-

TOTAL EXPENDITURES	$	551,440	$ 1,432,869	$	-	$  1,432,869	$	498,150	
						
EXCESS REVENUES (EXPENDITURES)	$	246,264	$	280,848	$	2,000	$	282,848	$	341,396	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/26

 $	146,675 

AMORTIZATION SCHEDULE
Debt Service Series 2021 Capital Improvement Revenue Bonds

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
						
11/01/25	$	8,155,000	2.400%	$	149,075	$	149,075	
05/01/26	8,155,000	2.400% $	200,000	149,075		
11/01/26	7,955,000	3.000%		146,675	495,750.00	
05/01/27	7,955,000	3.000%	205,000	146,675		
11/01/27	7,750,000	3.000%		143,600	495,275.00	
05/01/28	7,750,000	3.000%	210,000	143,600		
11/01/28	7,540,000	3.000%		140,450	494,050.00	
05/01/29	7,540,000	3.000%	215,000	140,450		
11/01/29	7,325,000	3.000%		137,225	492,675.00	
05/01/30	7,325,000	3.000%	225,000	137,225		
11/01/30	7,100,000	3.000%		133,850	496,075.00	
05/01/31	7,100,000	3.000%	230,000	133,850		
11/01/31	6,870,000	3.500%		130,400	494,250.00	
05/01/32	6,870,000	3.500%	235,000	130,400		
11/01/32	6,635,000	3.500%		126,288	491,687.50	
05/01/33	6,635,000	3.500%	245,000	126,288		
11/01/33	6,390,000	3.500%		122,000	493,287.50	
05/01/34	6,390,000	3.500%	255,000	122,000		
11/01/34	6,135,000	3.500%		117,538	494,537.50	
05/01/35	6,135,000	3.500%	265,000	117,538		
11/01/35	5,870,000	3.500%		112,900	495,437.50	
05/01/36	5,870,000	3.500%	275,000	112,900		
11/01/36	5,595,000	3.500%		108,088	495,987.50	
05/01/37	5,595,000	3.500%	285,000	108,088		
11/01/37	5,310,000	3.500%		103,100	496,187.50	
05/01/38	5,310,000	3.500%	295,000	103,100		
11/01/38	5,015,000	3.500%		97,938	496,037.50	
05/01/39	5,015,000	3.500%	305,000	97,938		
11/01/39	4,710,000	3.500%		92,600	495,537.50	
05/01/40	4,710,000	3.500%	315,000	92,600		
11/01/40	4,395,000	3.500%		87,088	494,687.50	
05/01/41	4,395,000	3.500%	325,000	87,088		
11/01/41	4,070,000	4.000%		81,400	493,487.50	
05/01/42	4,070,000	4.000%	340,000	81,400		
11/01/42	3,730,000	4.000%		74,600	496,000.00	
05/01/43	3,730,000	4.000%	350,000	74,600		
11/01/43	3,380,000	4.000%		67,600	492,200.00	
05/01/44	3,380,000	4.000%	365,000	67,600		
11/01/44	3,015,000	4.000%		60,300	492,900.00	
05/01/45	3,015,000	4.000%	380,000	60,300		
11/01/45	2,635,000	4.000%		52,700	493,000.00	
05/01/46	2,635,000	4.000%	395,000	52,700		
11/01/46	2,240,000	4.000%		44,800	492,500.00	
05/01/47	2,240,000	4.000%	415,000	44,800		
11/01/47	1,825,000	4.000%		36,500	496,300.00	
05/01/48	1,825,000	4.000%	430,000	36,500		
11/01/48	1,395,000	4.000%		27,900	494,400.00	
05/01/49	1,395,000	4.000%	445,000	27,900		
11/01/49	950,000	4.000%		19,000	491,900.00	
05/01/50	950,000	4.000%	465,000	19,000		
11/01/50	485,000	4.000%		9,700	493,700.00	
05/01/51	485,000	4.000%	485,000	9,700	494,700.00	
Total		$	8,155,000  $	4,846,625	$  13,001,625	

Adopted Budget Capital Reserve Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY 2025	6/30/25		3 Months		9/30/25	FY 2026	

REVENUES:						
Interest Income	$	1,000	$	972	$	150	$	1,122	$	1,000	
Capital Reserve Funding - Transfer In	125,000	25,000	100,000	125,000	400,000	
Developer Contributions	-	114,016	-	114,016	-	
Carry Forward Balance	129,484	162,933	-	162,933	130,665	
TOTAL REVENUES	$	255,484	$	302,921	$	100,150	$	403,071	$	531,665	

EXPENDITURES:						
Repair and Replacements	$	50,000	$	27,308	$	5,000	$	32,308	$	50,000	
Capital Outlay	-	215,098	25,000	240,098	-	
RiverHouse Access Control System (C/S)	-	-	-	-	4,422	
RiverHouse Painting (C/S)	-	-	-	-	26,733	
RiverHouse Furniture (C/S)	-	-	-	-	23,584	
RiverHouse A/C Unit Replacement (C/S)	-	-	-	-	32,428	
RiverHouse Tennis Court Fencing (C/S)	-	-	-	-	23,584	
RiverHouse Pool Pump Sand Filtration (C/S)	-	-	-	-	36,850	
Permanent Holiday Lighting (C/S)	-	-	-	-	22,995	
Playground Equipment (C/S)	-	-	-	-	5,896	
Pocket Parks Equipment Repair/Replacement (C/S)	-	-	-	-	13,075	
Maintenance Golf Cart (C/S)	-	-	-	-	2,948	
Maintenance Work Truck (C/S)	-	-	-	-	19,162	
TOTAL EXPENDITURES	$	50,000	$	242,406	$	30,000	$	272,406	$	261,677	

Other Sources/(Uses)						

Transfer in/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	50,000	$	242,406	$	30,000	$	272,406	$	261,677	
						
EXCESS REVENUES (EXPENDITURES)	$	205,484	$	60,515	$	70,150	$	130,665	$	269,988	

Non-Ad Valorem Assessments Comparison 2025-2026

Neighborhood	O&M Units	Bonds 2020 Units	Bonds 2021 Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
	
FY 2026	
FY 2025	
Increase/ (decrease)	
FY 2026	
FY 2025	Increase/ (decrease)	
								Series	Series	Series	Series	Total	
								2020	2021	2020	2021		

Townhomes	
184	
34	
150	
$1,172.46	
$977.05	
$195.41	
20.00%	
$743.98	
$743.98	
$743.98	
$743.98	
$0.00	
Single Family - 30'-39' Lot	102	68	34	$1,287.97	$1,073.31	$214.66	20.00%	$695.83	$695.68	$695.83	$695.68	$0.00	
Single Family - 40'-49' Lot	226	152	74	$1,512.86	$1,260.72	$252.15	20.00%	$899.79	$899.59	$899.79	$899.59	$0.00	
Single Family - 50'-59' Lot	204	91	112	$1,778.63	$1,482.19	$296.44	20.00%	$1,103.74	$1,103.50	$1,103.74	$1,103.50	$0.00	
Single Family - 60'-69' Lot	0	0	0	$0.00	$0.00	$0.00	-	$0.00	$0.00	$0.00	$0.00	$0.00	
Single Family - 70'-79' Lot	65	65	0	$2,453.28	$2,044.40	$408.88	20.00%	$1,499.64	$0.00	$1,499.64	$0.00	$0.00	
Single Family - 80' Lot	50	50	0	$2,719.04	$2,265.87	$453.17	20.00%	$1,703.59	$0.00	$1,703.59	$0.00	$0.00	
Total	831	460	370