River's Edge

Community Development District

Adopted Budget Fiscal Year 2019

River's Edge

Community Development District

TABLE OF CONTENTS

General Fund		
Summary of Revenues and Expenses	Page 1-3	
Narrative	Page 4-13	
Debt Service Fund		
Bond Series 2016	Page 14-16	
Bond Series 2018	Page 17-19	
Bond Series 2018A-1/2018A-2	Page 20-21	
Allocation of Fixed and Variable Costs	Page 22	

River's Edge

Community Development District				General Fund		
							
	Adopted	Actual	Projected	Projected	Adopted		
	Budget	Thru	2	Thru	Budget		
Description	FY 18	7/31/18	Months	9/30/2018	FY 19		
Revenues	$1,499,928	$1,501,525	$0	$1,501,525	$1,694,627		
Assessments							
Developer Cost Share - Mattamy (Roads/Stormwater Expenses)							
Developer Funding - Mattamy (River Club Amenity)	$90,507	$90,507	$0	$90,507	$405,474		
Developer Funding - Mattamy (Special Events/Hurricane/Assets)	$282,211	$161,003	$0	$161,003	$0		
Developer Funding-Mattamy (Repairs and Replacements/Increased Services)	$0	$72,884	$8,000	$80,884	$0		
Misc Income/Interest	$0	$0	$191,393	$191,393	$0		
Rental Revenue	$1,000	$6,579	$1,000	$7,579	$4,000		
Community Garden	$5,000	$9,407	$3,500	$12,907	$5,000		
River Club Café - net sales	$0	$0	$0	$0	$2,000		
	$0	$0	$2,422	$2,422	$0		
Total Revenues	$1,878,646	$1,841,905	$206,315	$2,048,220	$2,111,101		
Expenditures							
Administrative	$6,000	$3,200	$1,600	$4,800	$9,600		
Supervisor Fees							
FICA Expense							
Engineering (Prosser)	$459	$245	$62	$307	$735		
Assessment Roll	$20,000	$14,423	$5,577	$20,000	$20,000		
Attorney	$4,500	$4,500	$0	$4,500	$4,500		
Annual Audit	$40,000	$39,534	$7,500	$47,034	$30,000		
Trustee Fees	$5,200	$4,400	$0	$4,400	$5,200		
Dissemination	$6,500	$9,576	$0	$9,576	$9,200		
Arbitrage	$5,500	$5,517	$1,500	$7,017	$5,500		
Management Fees	$1,200	$1,200	$0	$1,200	$1,200		
Information Technology	$45,000	$37,500	$7,500	$45,000	$45,000		
Telephone	$2,500	$2,083	$416	$2,499	$2,500		
Postage	$100	$124	$25	$149	$100		
Printing & Binding	$1,000	$858	$150	$1,008	$1,000		
Insurance	$2,700	$2,503	$500	$3,003	$2,500		
Legal Advertising	$8,038	$8,038	$0	$8,038	$8,100		
Other Current Charges	$3,000	$1,041	$250	$1,291	$3,000		
Office Supplies	$1,000	$573	$120	$693	$1,000		
Dues, Licenses & Subscriptions	$200	$111	$50	$161	$200		
	$175	$175	$0	$175	$175		
Total Administrative	$153,072	$135,600	$25,250	$160,850	$149,510		
Grounds Maintenance	$32,500	$26,467	$5,170	$31,637	$30,750		
Field Operations Management (Vesta)							
Landscape Maintenance (Brightview Landscape Services)							
Mulch	$579,438	$447,839	$52,654	$500,493	$860,775		
Landscape Reserves	$70,000	$55,208	$10,000	$65,208	$0		
Irrigation Repairs and Maintenance	$20,000	$153,249	$20,000	$173,249	$20,000		
Lakes, Vegetation and Algae Control	$7,620	$29,958	$10,000	$39,958	$8,500		
Irrigation Water Use	$52,980	$38,690	$8,000	$46,690	$56,340		
Electric	$200,000	$162,875	$40,000	$202,875	$240,000		
Street Lighting & Signage Repairs and Replacements	$6,000	$32,141	$8,000	$40,141	$28,000		
Street and Drainage Maintenance	$5,000	$14,497	$5,000	$19,497	$7,500		
Other Repairs and Maintenance	$5,000	$659	$200	$859	$5,000		
	$2,500	$24,390	$5,000	$29,390	$7,500		
Total Grounds Maintenance	$981,038	$985,972	$164,024	$1,149,996	$1,264,365		

1

River's Edge

Community Development District				General Fund		
							
	Adopted	Actual	Projected	Projected	Adopted		
	Budget	Thru	2	Thru	Budget		
Description	FY 18	7/31/18	Months	9/30/2018	FY 19		
Amenity Center - River House	$32,500	$53,075	$10,496	$63,571	$62,250		
General Manager / Lifestyle Director (Vesta)							
Lifeguards/Pool Attendants (Vesta)							
Hospitality Staff (Vesta)	$36,500	$32,820	$20,000	$52,820	$32,712		
Security Monitoring	$0	$0	$0	$0	$55,890		
Security Guards	$2,208	$2,275	$1,000	$3,275	$2,208		
Telephone	$60,000	$49,160	$10,000	$59,160	$60,000		
Insurance	$8,600	$11,365	$2,000	$13,365	$8,600		
General Facility Maint/Common Grounds Maint	$34,609	$33,446	$0	$33,446	$34,500		
Pool Maintenance	$59,833	$45,312	$13,125	$58,437	$59,833		
Pool Chemicals	$24,300	$17,591	$5,000	$22,591	$27,337		
Janitorial Services/Supplies	$11,136	$10,409	$3,248	$13,657	$11,136		
Window Cleaning	$22,788	$11,264	$1,926	$13,190	$22,788		
Propane Gas	$2,767	$928	$300	$1,228	$2,767		
Electric	$500	$601	$60	$661	$650		
Sewer/Water/Irrigation	$25,000	$19,997	$4,000	$23,997	$25,000		
Repair and Replacements	$36,753	$26,983	$7,500	$34,483	$36,755		
Refuse	$23,600	$72,800	$10,000	$82,800	$32,000		
Pest Control	$7,900	$11,680	$1,400	$13,080	$7,900		
Facility Preventative Maintenance	$5,840	$3,200	$1,425	$4,625	$5,840		
Access Cards	$2,680	$0	$500	$500	$2,680		
License/Permits	$500	$3,150	$0	$3,150	$2,000		
Other Current	$1,968	$701	$305	$1,006	$1,800		
Special Events	$1,500	$1,663	$600	$2,263	$1,500		
Landscape Replacements	$20,000	$52,292	$8,000	$60,292	$54,330		
Office Supplies/Postage	$500	$0	$250	$250	$750		
Capital Expenditure	$1,400	$2,816	$750	$3,566	$1,500		
General Reserve	$3,772	$2,286	$250	$2,536	$7,500		
Community Garden	$8,421	$8,421	$0	$8,421	$135,000		
	$0	$0	$0	$0	$2,000		
Total Amenity Center Expenses	$435,575	$474,235	$102,135	$576,370	$697,226		
Amenity River Club	$32,500	$26,242	$0	$26,242	$0		
General & Lifestyle Manager (Vesta)							
Hospitality Staff (Vesta)							
Field Operations Management (Vesta)	$0	$0	$0	$0	$0		
Community Facility Staff	$0	$0	$0	$0	$0		
Community Maintenance Staff	$27,500	$25,934	$0	$25,934	$0		
Facility Attendants	$26,750	$29,553	$0	$29,553	$0		
Security Monitoring	$45,750	$12,925	$0	$12,925	$0		
Telephone	$2,000	$0	$0	$0	$0		
Insurance	$5,000	$0	$0	$0	$0		
Landscape Maintenance (Brightview)	$0	$0	$0	$0	$0		
General Facility Maint/Common Grounds Maint	$0	$0	$0	$0	$0		
Pool Maintenance(Vesta)	$16,167	$9,697	$0	$9,697	$0		
Pool Chemicals	$12,150	$5,818	$0	$5,818	$0		
Janitorial Services	$10,000	$0	$0	$0	$0		
Window Cleaning	$11,394	$12,191	$0	$12,191	$0		
Propane Gas	$2,500	$0	$0	$0	$0		
Electric	$500	$0	$0	$0	$0		
Sewer/Water/Irrigation	$20,000	$0	$0	$0	$0		
Repair and Replacements	$30,000	$0	$0	$0	$0		
Refuse	$5,000	$0	$0	$0	$0		
Pest Control	$7,000	$0	$0	$0	$0		
Facility Preventative Maintenance	$2,500	$0	$0	$0	$0		
2	$2,000	$0	$0	$0	$0		

River's Edge

Community Development District				General Fund		
							
	Adopted	Actual	Projected	Projected	Adopted		
	Budget	Thru	2	Thru	Budget		
Description	FY 18	7/31/18	Months	9/30/2018	FY 19		
Access Cards	$0	$0	$0	$0	$0		
License/Permits							
Other Current	$1,500	$0	$0	$0	$0		
Special Events	$1,000	$0	$0	$0	$0		
Landscape Replacements	$20,000	$0	$0	$0	$0		
Office Supplies/Postage	$500	$0	$0	$0	$0		
Capital Expenditure	$500	$0	$0	$0	$0		
Capital Reserves	$0	$16,743	$0	$16,743	$0		
Café- labor & Other Expenses	$0	$0	$0	$0	$0		
	$0	$21,900	$0	$21,900	$0		
Total Amenity Center Expenses	$282,211	$161,003	$0	$161,003	$0		
							
Total Expenses	$1,851,896	$1,756,811	$291,409	$2,048,220	$2,111,101		
							
Excess Revenues (Expenditures)	$26,750	$85,094	($85,094)	$0	$0		

3

River’s Edge

Community Development District

GENERAL FUND BUDGET

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 Cost Share- Roads/ Stormwater

Mattamy Rivertown LLC and Rivers Edge CDD II agreement to cost share a portion of the maintenance costs for roadways and surface water management systems. The agreement recognizes the benefit to lands outside of the Rivers Edge CDD boundaries.

Developer Funding – (Special Events / Hurricane / Assets)

Mattamy Rivertown LLC provide for the funding of hurricane related cleanup expenses in 2018 along with the replacement of certain assets and some special events. For 2019 we have not budgeted any funding for these items.

Developer Funding – (Repairs and Replacements/Increases Services)

Mattamy Rivertown LLC provide for the funding of repairs and replacements and increased services incurred during the fiscal year.
Misc Income/Interest

Miscellaneous Income from proceeds from access cards from residents and guest of the community and any other income the is deposited to the district. The District will have funds invested in a money market fund with U.S. Bank that earns interest based upon the estimated balance invested throughout the year.

Rental Revenue

Income received from residents/non-residents for rental of cabana, pool and Riverhouse area.

Community Garden

Income received from community garden fees.

River Club - Cafe

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

4

River’s Edge

Community Development District

GENERAL FUND BUDGET

EXPENDITURES:

Administrative:

Supervisor Fees & FICA Expense

Supervisors by Florida statutes are eligible for compensation if elected at $200/meeting. The costs are reflective of anticipated compensation plus FICA matching.

Engineering Fees

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

Assessment Roll

The District has contracted with Governmental Management Services, LLC for the certification and collection of the District’s annual maintenance and debt service assessments. Assessments on platted lots are collected by agreement with St Johns County while unplatted assessments maybe collected directly by District and/or by County Tax Collector.

Attorney

The District’s legal counsel, Hopping, Green & 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 Grau and Associates, an Independent Certified Public Accounting Firm.

Trustee Fees

The Trustee at U.S. BANK administers the District’s Series 2008A and Series 2016 Capital Improvement Revenue Bonds. The amount represents the annual fee for the administration of the District’s bond issue.
Dissemination

The District has contracted with GMS, LLC to act as the Dissemination Agent for the District to prepare the Annual Disclosure Report required by the Security and Exchange Commission in order to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.

Arbitrage

The District is required to annually have an arbitrage rebate calculation on the District’s Series 2008A and Series 2016 Capital Improvement Revenue Bonds. The District has contracted with Grau and Associates to calculate the rebate liability and submit a report to the District.
Management Fees

The District receives management, accounting and administrative services as part of a management agreement with Governmental Management Services, LLC (“GMS”). These services are further outlined in Exhibit “A” of the Management Agreement with GMS.

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River’s Edge

Community Development District

GENERAL FUND BUDGET

Information Technology

The cost related to District’s accounting and information systems, District website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements maintained by GMS.
Telephone

Telephone conference costs for District meetings, workshops and committee meetings.

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 specializes in providing insurance coverage to governmental agencies.

Legal Advertising

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

Other Current Charges

Estimated bank charges and any other miscellaneous expenses that incurred during the year.

Office Supplies

Miscellaneous office supplies.

Dues, Licenses & Subscriptions

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

Grounds Maintenance:

Field Operations Management

The District has contracted with Vesta to provide onsite services for field contract administration, field inspections, and oversight of the following maintenance items: Landscape, Lakes, Roadways and Utilities.
Contractor	Monthly	Annual	
Vesta Property Services, Inc.	$2,563	$30,750	

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River’s Edge

Community Development District

GENERAL FUND BUDGET

Landscape Maintenance

The District contracted with Brighthouse Services, Inc. for FY2018 to maintain the common areas of the District and Amenity Center. For FY2019, the District has contracted with VerdeGo for these services.
Contract	Monthly	Annual	
CDD Landscape Maintenance	$44,681	$536,176	
Shared Landscape	$ 27,050	$324,599	
	$71,731	$860,775	
Landscape Reserves

For additional landscape services and possible storm cleanup.

Irrigation Maintenance and Repairs

Estimated miscellaneous irrigation maintenance and repair costs.

Lakes, Vegetation and Algae Control

Maintenance costs to maintain lakes and control vegetation and algae. The District currently uses Charles Aquatics, Inc. and Aerostar SES for storm water inspection services.
Contractor	Monthly	Annual	
Charles Aquatics	$1,698	$20,380	
AeorstarSES	$ 2,193	$26,320	
	$ 804	$9,640	
	$ 4,695	$56,340	

7

River’s Edge

Community Development District

GENERAL FUND BUDGET

Irrigation/Reclaimed Water

Location	Meter	Monthly	Annual		
					
Estimated costs for irrigation by the district for reuseNumberwater billed by JEA .	$10,614		
15 Baya St	71174367	$885			
17 Baya St	73270055	$19	$227		
1846 Orange Branch Trl	68953528	$1,363	$16,360		
234 Perdido St	75392334	$19	$230		
252 Rawlings Dr Apt IR01	68090707	$3,255	$39,060		
29 Rivertown Bv	68090742	$2,517	$30,204		
316 Rambling Water Run	67153677	$38	$450		
366 Sternwheel Dr	68090744	$3,228	$38,735		
373 Waterfront Dr	68090725	$1,832	$21,978		
386 Perdido St Apt LS01	74759223	$65	$778		
407 Yearling BV	78727795	$406	$4,870		
674 Sternwheel Dr	72407045	$283	$3,400		
7601 Longleaf Pine PY	70204198	$201	$2,415		
7904 Longleaf Pine PY	71731573	$144	$1,724		
8102 Longleaf Pine PY	70204176	$763	$9,152		
87 Kendall Crossing Dr Apt IR01	68090740	$107	$1,282		
Contingency for new accounts			$4,876	$58,521		
Electric (Street Lights and Pumps)		$20,000	$240,000		
Estimated costs for electric billed to the district by FPL.		Monthly	Annual		
Location	Meter Number				
147 Chipola Trce #Lights		8461452438	$18	$324		
156 Landing St # Lights		5292756029	$50	$600		
1758 Orange Branch Trl		3022429090	$40	$480		
251 Waterfront Dr #Lights		7663646300	$20	$240		
373 Waterfront Dr # Lights		849527304	$30	$360		
380 Sternwheel Dr		2961434400	$100	$1,200		
47 Narrowleaf Dr # Mail Kiosk		3733493484	$12	$144		
71 Landing St #Park		7975970117	$15	$180		
8 Mascotte Place		7123229028	$25	$300		
87 Kendall Crossing Dr #Kiosk		5465700168	$45	$540		
98 Perdido St #Lights		9390325356	$20	$240		
66 Foot Bridge Dr #Lights		1840736282	$50	$600		
595 Rivertown Main St #Lights		4535462172	$35	$420		
783 Rivertown Main St. # Lights		6547572179	$70	$840		
131 Rivertown Main St #Lights		7248902178	$75	$900		
427 Rivertown Main St. #Lights		7862742173	$60	$720		
109 Rivertown Main St. #Fountains		9328401261	$1,200	$14,400		
Contingency			$468	$5,620		
			$2,333	$ 28,000		

8

River’s Edge

Community Development District

GENERAL FUND BUDGET

Street Lighting & Signage Repairs and Replacement

The estimated costs for street lighting and signage repairs and replacements.

Street and Drainage Maintenance

The estimated costs for street and drainage repairs.

Other Repairs and Maintenance

Estimated costs for other repairs and maintenance incurred by the district.

Amenity Center Expenses- River House

General Manager

The District has contracted with Vesta Property Services, Inc. to provide general amenity

management.	Contractor	Monthly	Annual	
	Vesta Property Services, Inc.	$5,187	$62,250	
Facility Manager/Lifestyle Director

The District has contracted with Vesta Property Services, Inc. to provide Facility Administration & special event coordinator services.
Contractor	Monthly	Annual	
Vesta Property Services, Inc.	$2,604	$31,250	
Lifeguards/Pool Attendants

The District has contracted with Vesta Property Services, Inc. to provide pool lifeguards/or pool attendants during the operating season for the pool.
Contractor	Annual	
Vesta Property Services, Inc.	$32,712	
Hospitality Lead / Hourly

The District has contracted with Vesta Property Services, Inc. to provide hospitality staffing for the district amenities.

9

River’s Edge

Community Development District

GENERAL FUND BUDGET

Security Monitoring

Maintenance costs of the security alarms/cameras provided by Sonitrol.

Contract	Monthly	Annual	
Monitoring	$94	$1,128	
Maintenance	$90	$1,080	
	$184	$2,208	
Security Guards

The district is contracted with Giddens Security to provide security patrols and mileage reimbursement for District Property at $15.34/hour and .56/mile.
Contractor	Monthly	Annual	
Giddens Security	$5,000	$60,000	
Telephone

The estimated cost for telephone services for the Amenity Center provided by AT&T.

Contractor	Account Number	Monthly	Annual	
AT&T	904-940-9393	$511	$6,137	
AT&T Uverse	146442959	$111	$1,339	
AT&T Uverse	144476292	$83	$994	
	Contingency	$11	$130	
		$596	$8,600	
Insurance

The District's Property Insurance policy is with Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies. The amount budgeted represents the estimated premium for property insurance related to the Amenity and other District facilities.

General Facility Maintenance/Common Ground Maintenance

The District is under contract with Vesta Property Services, Inc.to provide maintenance and repairs necessary for upkeep of the Amenity Center and common ground areas.
Contractor	Monthly	Annual	
Vesta Property Services, Inc.	$4,986	$59,833	

10

River’s Edge

Community Development District

GENERAL FUND BUDGET

Pool Maintenance

The District is under contract with Vesta Property Services, Inc. for the maintenance of the Amenity Center Swimming Pools.
Contractor	Monthly	Annual	
Vesta Property Services, Inc.	$2,278	$27,337	
Pool Chemicals

The District is under contract with Vesta Property Services, Inc. to provide pool chemicals for the maintenance of the Amenity Center Swimming Pools.
Contractor	Monthly	Annual	
Vesta Property Services, Inc.	$928	$11,136	
Janitorial Services

The District is under contract with Vesta Property Services, Inc. to provide janitorial cleaning for the Amenity Center.
Contract	Monthly	Annual	
Janitorial Services	$1,899	$22,788	
Window Cleaning

The District will have windows cleaned inside and outside three times a year.

Contract	Monthly	Annual	
Commercial Window Cleaning Inc	$231	$2,767	
Propane Gas

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

Contractor	Monthly	Annual	
TECO Peoples Gas	$54	$650	
Electric

Estimated costs for electric billed to the district by FPL.

	Meter			
Location	Number	Monthly	Annual	
156 Landing St Club House	73172207	$280	$3,356	
136 Landing St (Tennis)	8675434248	$898	$10,772	
140 Landing St Fitness	2299084240	$593	$7,114	
	Contingency	$313	$3,758	
		$1,770	$ 25,000	

11

River’s Edge

Community Development District

GENERAL FUND BUDGET

Sewer/Water/Irrigation

Estimated costs for sewer, water, and irrigation for the amenity center billed to the district by JEA.

156 Landing St- Sewer	Meter	Monthly	Annual		
	Number				
156 Landing St- Water	72407426	$525	$6298		
156 Landing St- Irrigation	70924484	$943	$11,312		
156 Landing St- Water	68080752	$1,365	$12,804		
Contingency	72407426	$305	$3,663		
		$223	$2,678		
		$3,361	$36,755		
Repair and Replacements

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

Refuse Service

Garbage disposal services for the Amenity Centers provided Republic Services.

Pest Control

The District is contracted with Nadar’s Pest Raiders to provide for pest control services.

Contract	Quarterly	Annual	
Nader’s Pest Raiders	$487	$5,840	
Facility Preventative Maintenance

Cost of routine inspections of fire extinguishers, back flow preventers, sprinkler system, hydrant, and alarm system provided by Cintas and preventative maintenance on fitness equipment by Commercial Fitness.
Contractor	Quarterly	Annual	
Cintas	-	$1,700	
Commercial Fitness	$245	$980	
	$245	$2,680	
Access Cards

Represents the estimated cost for access cards to the District’s Amenity Center.

License/Permits

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

Other Current

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

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River’s Edge

Community Development District

GENERAL FUND BUDGET

Special Events

Represents estimated costs for the District to host special events for the community throughout the Fiscal Year.

Landscape Replacements

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

Office Supplies/Postage

Costs of supplies and postage incurred for the operation of the Amenity Center.

Capital Expenditures

Represents new capital related purchases for the operation of the Amenity Center.

Community Garden

Represents costs associated with the operations of the community garden. These costs are estimated for electric, water and other miscellaneous costs.

General Reserve

Establishment of general reserve to fund future replacements of Capital items.

13

River's Edge						
Community Development District		Debt Service Fund		
			Series 2016		
						
	Adopted	Actual	Projected	Adopted		
	Budget	Thru	Thru	Budget		
Description	FY 18	7/31/18	9/30/2018	FY 19		
Revenues	$711,978	$711,978	$711,978	$711,978		
Assessments - Tax Roll/Direct						
Interest Income						
Carry Forward Surplus	$1,000	$5,929	$7,500	$1,000		
Total Revenues	$275,152	$275,946	$275,946	$280,374		
	$988,130	$993,853	$995,424	$993,352		
Expenditures						
Series 2016	$272,525	$272,525	$272,525	$268,640		
Interest 11/1						
Interest 5/1						
Principal 5/1	$272,525	$272,525	$272,525	$268,640		
Total Expenses	$170,000	$170,000	$170,000	$175,000		
	$715,050	$715,050	$715,050	$712,280		
EXCESS REVENUES / (EXPENDITURES)						
	$273,080	$278,803	$280,374	$281,072		
		Interest Payment 11/01	$ 264,642.50		

(1) Net of Reserve Funds reflective of St. Johns County collection costs of 2% and early payment discount of 4%.

Development	Units	Gross	Gross		
		Per Unit	Assessments		
Townhouse	59	$1,141	$67,325		
45' lot	305	$991	$302,298		
55' lot	204	$1,182	$241,218		
70' lot	12	$1,665	$19,985		
80' lot	68	$1,864	$126,769		
Gross Total			$757,594		
Less Disc. + Collections 6%		$45,616		
Net Annual Assessment		$711,978		

14

River's Edge

Community Development District

Series 2016 Special Assessment Bonds

AMORTIZATION SCHEDULE

DATE		BALANCE		PRINCIPAL		INTEREST		TOTAL	
05/01/17	$	10,765,000.00	$	160,000.00	$	277,719.37	$	-	
11/01/17	$	10,605,000.00	$	-	$	272,525.00	$	710,244.37	
05/01/18	$	10,605,000.00	$	170,000.00	$	272,525.00	$	-	
11/01/18	$	10,435,000.00	$	-	$	268,640.00	$	711,165.00	
05/01/19	$	10,435,000.00	$	175,000.00	$	268,640.00	$	-	
11/01/19	$	10,260,000.00	$	-	$	264,642.50	$	708,282.50	
05/01/20	$	10,260,000.00	$	185,000.00	$	264,642.50	$	-	
11/01/20	$	10,075,000.00	$	-	$	260,400.00	$	710,042.50	
05/01/21	$	10,075,000.00	$	195,000.00	$	260,400.00	$	-	
11/01/21	$	9,880,000.00	$	-	$	255,932.50	$	711,332.50	
05/01/22	$	9,880,000.00	$	200,000.00	$	255,932.50	$	-	
11/01/22	$	9,680,000.00	$	-	$	251,372.50	$	707,305.00	
05/01/23	$	9,680,000.00	$	210,000.00	$	251,372.50	$	-	
11/01/23	$	9,470,000.00	$	-	$	246,567.50	$	707,940.00	
05/01/24	$	9,470,000.00	$	220,000.00	$	246,567.50	$	-	
11/01/24	$	9,250,000.00	$	-	$	241,537.50	$	708,105.00	
05/01/25	$	9,250,000.00	$	230,000.00	$	241,537.50	$	-	
11/01/25	$	9,020,000.00	$	-	$	236,282.50	$	707,820.00	
05/01/26	$	9,020,000.00	$	245,000.00	$	236,282.50	$	-	
11/01/26	$	8,775,000.00	$	-	$	230,670.00	$	711,952.50	
05/01/27	$	8,775,000.00	$	255,000.00	$	230,670.00	$	-	
11/01/27	$	8,520,000.00	$	-	$	224,027.50	$	709,697.50	
05/01/28	$	8,520,000.00	$	270,000.00	$	224,027.50	$	-	
11/01/28	$	8,250,000.00	$	-	$	216,992.50	$	711,020.00	
05/01/29	$	8,250,000.00	$	285,000.00	$	216,992.50	$	-	
11/01/29	$	7,965,000.00	$	-	$	209,567.50	$	711,560.00	
05/01/30	$	7,965,000.00	$	300,000.00	$	209,567.50	$	-	
11/01/30	$	7,665,000.00	$	-	$	201,752.50	$	711,320.00	
05/01/31	$	7,665,000.00	$	315,000.00	$	201,752.50	$	-	
11/01/31	$	7,350,000.00	$	-	$	193,547.50	$	710,300.00	
05/01/32	$	7,350,000.00	$	330,000.00	$	193,547.50	$	-	
11/01/32	$	7,020,000.00	$	-	$	184,952.50	$	708,500.00	
05/01/33	$	7,020,000.00	$	350,000.00	$	184,952.50	$	-	
11/01/33	$	6,670,000.00	$	-	$	175,835.00	$	710,787.50	
05/01/34	$	6,670,000.00	$	365,000.00	$	175,835.00	$	-	
11/01/34	$	6,305,000.00	$	-	$	166,327.50	$	707,162.50	
05/01/35	$	6,305,000.00	$	385,000.00	$	166,327.50	$	-	
11/01/35	$	5,920,000.00	$	-	$	156,300.00	$	707,627.50	
05/01/36	$	5,920,000.00	$	410,000.00	$	156,300.00	$	-	

15

River's Edge

Community Development District

Series 2016 Special Assessment Bonds

AMORTIZATION SCHEDULE

DATE		BALANCE		PRINCIPAL		INTEREST		TOTAL			
11/01/36	$	5,510,000.00	$	-	$	145,617.50	$	711,917.50				
05/01/37	$	5,510,000.00	$	430,000.00	$	145,617.50	$	-				
11/01/37	$	5,080,000.00	$	-	$	134,415.00	$	710,032.50				
05/01/38	$	5,080,000.00	$	455,000.00	$	134,415.00	$	-				
11/01/38	$	4,625,000.00	$	475,000.00	$	122,562.50	$	711,977.50				
05/01/39	$	4,625,000.00			$	122,562.50	$	707,537.50				
11/01/39	$	4,150,000.00	$	505,000.00	$	109,975.00						
05/01/40	$	4,150,000.00			$	109,975.00	$	711,567.50				
11/01/40	$	3,645,000.00	$	530,000.00	$	96,592.50						
05/01/41	$	3,645,000.00			$	96,592.50	$	709,140.00				
11/01/41	$	3,115,000.00	$	560,000.00	$	82,547.50						
05/01/42	$	3,115,000.00			$	82,547.50	$	710,255.00				
11/01/42	$	2,555,000.00	$	590,000.00	$	67,707.50						
05/01/43	$	2,555,000.00			$	67,707.50	$	709,780.00				
11/01/43	$	1,965,000.00	$	620,000.00	$	52,072.50						
05/01/44	$	1,965,000.00			$	52,072.50	$	707,715.00				
11/01/44	$	1,345,000.00	$	655,000.00	$	35,642.50						
05/01/45	$	1,345,000.00			$	35,642.50	$	708,927.50				
11/01/45	$	690,000.00	$	690,000.00	$	18,285.00						
05/01/46	$	690,000.00			$	18,285.00	$	708,285.00				
11/01/46	$	-			$	-						
			$	10,765,000.00	$	10,524,299.37	$	21,289,299.37				

16

River's Edge

Community Development District					Debt Service Fund		
					Series 2018		
							
	Projected	Actual		Projected	Adopted		
	Budget		Thru		Thru	Budget		
Description	FY 18		7/31/18		9/30/2018	FY 19		
Revenues		$0		$0	$0	$470,032		
Assessments - Tax Roll/Direct								
Bond Proceeds								
Interest Income	$648,418		$0	$648,418	$0		
Carry Forward Surplus	$100		$0	$500	$1,000		
		$0		$0	$0	$166,162		
Total Revenues	$648,518		$0	$648,918	$637,194		
Expenditures								
Series 2018		$0		$0	$0	$166,162		
Interest 11/1								
Interest 5/1								
Principal 5/1		$0		$0	$0	$182,373		
		$0		$0	$0	$0		
Total Expenses		$0		$0	$0	$348,535		
							
EXCESS REVENUES / (EXPENDITURES)	$648,518		$0	$648,918	$288,659		
			Interest Payment 11/01/2019	$  182,372.50		
	Development	Units		Gross	Gross		
				Per Unit	Assessments		
	40/45' lot		149		$1,011	$150,585		
	55' lot		81		$1,188	$96,243		
	600' lot		39		$1,366	$53,263		
	700' lot		122		$1,639	$199,942		
	Gross Total					$500,034		
	Less Disc. + Collections 6%			($30,002)		
	Net Annual Assessment			$470,032		

17

River's Edge

Community Development District

Series 2018 Capital Improvement Revenue Bonds

AMORTIZATION SCHEDULE

DATE		BALANCE		PRINCIPAL		INTEREST		TOTAL	
11/01/18	$	7,050,000.00	$	-	$	166,161.61	$	166,161.61	
05/01/19	$	7,050,000.00	$	-	$	182,372.50	$	-	
11/01/19	$	7,050,000.00	$	-	$	182,372.50	$	364,745.00	
05/01/20	$	7,050,000.00	$	105,000.00	$	182,372.50	$	-	
11/01/20	$	6,945,000.00	$	-	$	180,220.00	$	467,592.50	
05/01/21	$	6,945,000.00	$	110,000.00	$	180,220.00	$	-	
11/01/21	$	6,835,000.00	$	-	$	177,965.00	$	468,185.00	
05/01/22	$	6,835,000.00	$	115,000.00	$	177,965.00	$	-	
11/01/22	$	6,720,000.00	$	-	$	175,607.50	$	468,572.50	
05/01/23	$	6,720,000.00	$	120,000.00	$	175,607.50	$	-	
11/01/23	$	6,600,000.00	$	-	$	173,147.50	$	468,755.00	
05/01/24	$	6,600,000.00	$	125,000.00	$	173,147.50	$	-	
11/01/24	$	6,475,000.00	$	-	$	170,147.50	$	468,295.00	
05/01/25	$	6,475,000.00	$	130,000.00	$	170,147.50	$	-	
11/01/25	$	6,345,000.00	$	-	$	167,027.50	$	467,175.00	
05/01/26	$	6,345,000.00	$	135,000.00	$	167,027.50	$	-	
11/01/26	$	6,210,000.00	$	-	$	163,787.50	$	465,815.00	
05/01/27	$	6,210,000.00	$	145,000.00	$	163,787.50	$	-	
11/01/27	$	6,065,000.00	$	-	$	160,307.50	$	469,095.00	
05/01/28	$	6,065,000.00	$	150,000.00	$	160,307.50	$	-	
11/01/28	$	5,915,000.00	$	-	$	156,707.50	$	467,015.00	
05/01/29	$	5,915,000.00	$	160,000.00	$	156,707.50	$	-	
11/01/29	$	5,755,000.00	$	-	$	152,547.50	$	469,255.00	
05/01/30	$	5,755,000.00	$	165,000.00	$	152,547.50	$	-	
11/01/30	$	5,590,000.00	$	-	$	148,257.50	$	465,805.00	
05/01/31	$	5,590,000.00	$	175,000.00	$	148,257.50	$	-	
11/01/31	$	5,415,000.00	$	-	$	143,707.50	$	466,965.00	
05/01/32	$	5,415,000.00	$	185,000.00	$	143,707.50	$	-	
11/01/32	$	5,230,000.00	$	-	$	138,897.50	$	467,605.00	
05/01/33	$	5,230,000.00	$	195,000.00	$	138,897.50	$	-	
11/01/33	$	5,035,000.00	$	-	$	133,827.50	$	467,725.00	
05/01/34	$	5,035,000.00	$	205,000.00	$	133,827.50	$	-	
11/01/34	$	4,830,000.00	$	-	$	128,497.50	$	467,325.00	
05/01/35	$	4,830,000.00	$	215,000.00	$	128,497.50	$	-	
11/01/35	$	4,615,000.00	$	-	$	122,907.50	$	466,405.00	
05/01/36	$	4,615,000.00	$	230,000.00	$	122,907.50	$	-	
11/01/36	$	4,385,000.00	$	-	$	116,927.50	$	469,835.00	
05/01/37	$	4,385,000.00	$	240,000.00	$	116,927.50	$	-	
11/01/37	$	4,145,000.00	$	-	$	110,687.50	$	467,615.00	
05/01/38	$	4,145,000.00	$	255,000.00	$	110,687.50	$	-	
11/01/38	$	3,890,000.00	$	-	$	104,057.50	$	469,745.00	

18

River's Edge

Community Development District

Series 2018 Capital Improvement Revenue Bonds

AMORTIZATION SCHEDULE

DATE		BALANCE		PRINCIPAL		INTEREST		TOTAL		
05/01/39	$	3,890,000.00	$	265,000.00	$	104,057.50	$	-			
11/01/39	$	3,625,000.00	$	-	$	96,968.75	$	466,026.25			
05/01/40	$	3,625,000.00	$	280,000.00	$	96,968.75	$	-			
11/01/40	$	3,345,000.00	$	-	$	89,478.75	$	466,447.50			
05/01/41	$	3,345,000.00	$	295,000.00	$	89,478.75	$	-			
11/01/41	$	3,050,000.00	$	-	$	81,587.50	$	466,066.25			
05/01/42	$	3,050,000.00	$	315,000.00	$	81,587.50	$	-			
11/01/42	$	2,735,000.00	$	-	$	73,161.25	$	469,748.75			
05/01/43	$	2,735,000.00	$	330,000.00	$	73,161.25	$	-			
11/01/43	$	2,405,000.00	$	-	$	64,333.75	$	467,495.00			
05/01/44	$	2,405,000.00	$	350,000.00	$	64,333.75	$	-			
11/01/44	$	2,055,000.00	$	-	$	54,971.25	$	469,305.00			
05/01/45	$	2,055,000.00	$	370,000.00	$	54,971.25	$	-			
11/01/45	$	1,685,000.00	$	-	$	45,073.75	$	470,045.00			
05/01/46	$	1,685,000.00	$	390,000.00	$	45,073.75	$	-			
11/01/46	$	1,295,000.00	$	-	$	34,641.25	$	469,715.00			
05/01/47	$	1,295,000.00	$	410,000.00	$	34,641.25	$	-			
11/01/47	$	885,000.00	$	-	$	23,673.75	$	468,315.00			
05/01/48	$	885,000.00	$	430,000.00	$	23,673.75	$	-			
11/01/48	$	455,000.00			$	12,171.25	$	465,845.00			
05/01/49	$	455,000.00	$	455,000.00	$	12,171.25	$	-			
11/01/49	$	-					$	467,171.25			
											
			$	6,595,000.00	$	7,491,524.11	$	14,565,866.61			

19

River's Edge

Community Development District				Debt Service Fund		
					Series 2018A-1/2018A-2		
										
			Projected	Actual		Projected	Adopted		
			Budget	Thru		Thru	Budget		
Description	FY 18	7/31/18		9/30/2018	FY 19		
Revenues	$0		$0	$0	$458,741			
Assessments - Tax Roll/Direct								
Bond Proceeds								
Interest Income	$192,728		$0	$192,728	$0			
Carry Forward Surplus	$100		$0	$500	$1,000			
			$0		$0	$0	$31,658			
Total Revenues	$192,828		$0	$193,228	$491,399			
Expenditures								
Series 2018	$0		$0	$0	$31,568			
Interest 11/1								
Interest 5/1								
Principal 5/1	$0		$0	$0	$118,378			
Transfer Out to Escrow Agent	$0		$0	$0	$225,000			
			$0		$0	$0	$0			
Total Expenses	$0		$0	$0	$374,946			
								
EXCESS REVENUES / (EXPENDITURES)	$192,828		$0	$193,228	$116,454			
				Interest Payment 11/01/2019	$  115,237.51			
				Net		Gross	Gross			
		Land Use	Units	Per Unit		Per Unit	Assessments			
		30	21	$680		$723	$15,187			
										
40	54	$820		$873	$47,135			
50	163	$961		$1,023	$166,673			
60	51	$1,102		$1,172	$59,782			
70	78	$1,320		$1,404	$109,549			
80	21	$1,468		$1,561	$32,788			
90	1	$1,615		$1,718	$1,718			
		Gross Total	63	Various		$55,191	$55,191			
							$488,023			
		Less Disc. + Collections 6%				-$29,281			
		Net Annual Assessment				$458,741			

20

River's Edge

Community Development District

Series 2018A-1/2018A-2 Capital Improvement Refunding Bonds

AMORTIZATION SCHEDULE

DATE		BALANCE		PRINCIPAL		INTEREST		TOTAL		
11/01/18	$	6,275,000.00	$	-	$	31,567.50	$	31,567.50			
05/01/19	$	6,275,000.00	$	225,000.00	$	118,378.13	$	-			
11/01/19	$	6,050,000.00	$	-	$	115,237.51	$	458,615.64			
05/01/20	$	6,050,000.00	$	225,000.00	$	115,237.51	$	-			
11/01/20	$	5,825,000.00	$	-	$	112,096.88	$	452,334.39			
05/01/21	$	5,825,000.00	$	235,000.00	$	112,096.88	$	-			
11/01/21	$	5,590,000.00	$	-	$	108,700.00	$	455,796.88			
05/01/22	$	5,590,000.00	$	245,000.00	$	108,700.00	$	-			
11/01/22	$	5,345,000.00	$	-	$	105,040.63	$	458,740.63			
05/01/23	$	5,345,000.00	$	250,000.00	$	105,040.63	$	-			
11/01/23	$	5,095,000.00	$	-	$	101,118.75	$	456,159.38			
05/01/24	$	5,095,000.00	$	255,000.00	$	101,118.75	$	-			
11/01/24	$	4,840,000.00	$	-	$	96,984.38	$	453,103.13			
05/01/25	$	4,840,000.00	$	265,000.00	$	96,984.38	$	-			
11/01/25	$	4,575,000.00	$	-	$	92,568.76	$	454,553.14			
05/01/26	$	4,575,000.00	$	275,000.00	$	92,568.76	$	-			
11/01/26	$	4,300,000.00	$	-	$	87,756.26	$	455,325.02			
05/01/27	$	4,300,000.00	$	285,000.00	$	87,756.26	$	-			
11/01/27	$	4,015,000.00	$	-	$	82,669.38	$	455,425.64			
05/01/28	$	4,015,000.00	$	295,000.00	$	82,669.38	$	-			
11/01/28	$	3,720,000.00	$	-	$	77,303.13	$	454,972.51			
05/01/29	$	3,720,000.00	$	310,000.00	$	77,303.13	$	-			
11/01/29	$	3,410,000.00	$	-	$	71,137.50	$	458,440.63			
05/01/30	$	3,410,000.00	$	320,000.00	$	71,137.50	$	-			
11/01/30	$	3,090,000.00	$	-	$	64,637.50	$	455,775.00			
05/01/31	$	3,090,000.00	$	330,000.00	$	64,637.50	$	-			
11/01/31	$	2,760,000.00	$	-	$	57,925.00	$	452,562.50			
05/01/32	$	2,760,000.00	$	345,000.00	$	57,925.00	$	-			
11/01/32	$	2,415,000.00	$	-	$	50,912.50	$	453,837.50			
05/01/33	$	2,415,000.00	$	360,000.00	$	50,912.50	$	-			
11/01/33	$	2,055,000.00	$	-	$	43,562.50	$	454,475.00			
05/01/34	$	2,055,000.00	$	375,000.00	$	43,562.50	$	-			
11/01/34	$	1,680,000.00	$	-	$	35,625.00	$	454,187.50			
05/01/35	$	1,680,000.00	$	395,000.00	$	35,625.00	$	-			
11/01/35	$	1,285,000.00	$	-	$	27,250.00	$	457,875.00			
05/01/36	$	1,285,000.00	$	410,000.00	$	27,250.00	$	-			
11/01/36	$	875,000.00	$	-	$	18,562.50	$	455,812.50			
05/01/37	$	875,000.00	$	430,000.00	$	18,562.50	$	-			
11/01/37	$	445,000.00	$	-	$	9,437.50	$	458,000.00			
05/01/38	$	445,000.00	$	445,000.00	$	9,437.50	$	-			
11/01/38	$	-	$	-	$	-	$	454,437.50			
			$	6,275,000.00	$	2,866,996.99	$	9,141,996.99			

21

Rivers Edge Community Development District

FY 2019 Operations and Maintenance Methodology

Equivalent Residential Unit Allocation

Assessments per Unit - Net and Gross

												FY 2019	FY 2019	FY 2018	Increase		
			Current		Future						FY 2019	Per Unit	Per Unit	Per Unit	Per Unit		
	ERU	Platted		Planned		Total		Total		Budget	Net	Gross	Gross	Gross		
Land Use / Product Type	per Unit	Units		Units		Units		ERU's	%	Allocation	Assessment	Assessment	Assessment	Assessment		
Townhomes	0.85		0	18	18	15.3	1.10%	$18,562.68	$1,031.26	$1,097.09	$989.28	$107.81		
Single Familiy - 30' Lot	0.62		21	0	21	13.02	0.93%	$15,796.48	$752.21	$800.23	$721.60	$78.63		
Single Familiy - 40' Lot	0.74		57	173	230	170.2	12.19%	$206,494.64	$897.80	$955.11	$861.26	$93.85		
Single Familiy - 45' Lot	0.74		0	302	302	223.48	16.00%	$271,136.44	$897.80	$955.11	$861.26	$93.85		
Single Familiy - 50' Lot	0.87		205	14	219	190.53	13.64%	$231,159.95	$1,055.52	$1,122.90	$1,012.56	$110.34		
Single Familiy - 55' Lot	0.87		0	264	264	229.68	16.44%	$278,658.57	$1,055.52	$1,122.90	$1,012.56	$110.34		
Single Familiy - 60' Lot	1		81	115	196	196	14.03%	$237,796.41	$1,213.25	$1,290.69	$1,163.86	$126.83		
Single Familiy - 70' Lot	1.2		102	117	219	262.8	18.81%	$318,841.31	$1,455.90	$1,548.83	$1,396.64	$152.19		
Single Familiy - 80' Lot	1.33		10	62	72	95.76	6.86%	$116,180.53	$1,613.62	$1,716.62	$1,547.94	$168.68		
Single Familiy - 90' Lot	1.47		0	0	0	0	0.00%	$0.00	$0.00	$0.00	$0.00	$0.00		
Total										100.00%							
			476		1065		1,541		1,396.77		$1,694,627						
FY 2018 Budget:																	
Administrative	$149,510																
Field and Grounds	$1,264,365																
Amenity Center	$697,226																
Less: Dev Cost Share	-$405,474																
Less: Other Income	-$11,000																
																	
	$1,694,627																

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