River's Edge

Community Development District

Approved Budget Fiscal Year 2018

June 14, 2017

River's Edge

Community Development District

TABLE OF CONTENTS

General Fund		
Summary of Revenues and Expenses	Page 1-3	
Narrative	Page 4-12	
Debt Service Fund		
Bond Series 2008A	Page 13-14	
Bond Series 2016	Page 15-17	
Allocation of Fixed and Variable Costs	Page 18	

River's Edge

Community Development District

		Adopted	Actual	Projected	Approved		
		Budget	Thru	Thru	Budget		
Description		FY 17	4/30/2017	9/30/2017	FY 18		
							
Revenues							
Assessments		$1,518,870	$1,366,291	$1,518,870	$1,499,928		
Developer Cost Share - Mattamy (Roads/Stormwater Expenses)	$5,000	$114,403	$114,403	$90,507		
Developer Funding - Mattamy (River Club Amenity)		$0	$0	$0	$265,087		
Misc Income/Interest		$1,000	$12,807	$12,807	$1,000		
Rental Revenue		$4,000	$2,061	$4,000	$5,000		
							
Total Revenues		$1,528,870	$1,495,562	$1,650,080	$1,861,522		
Expenditures							
Administrative							
Supervisor Fees		$0	$1,200	$1,200	$6,000		
FICA Expense		$0	$92	$93	$459		
Engineering (Prosser)		$20,000	$6,969	$20,000	$20,000		
Assessment Roll		$4,500	$4,500	$4,500	$4,500		
Attorney		$40,000	$25,894	$40,000	$40,000		
Boundary Amendment Exp		$5,000	$18,235	$18,235	$0		
Annual Audit		$4,300	$0	$4,300	$5,200		
Trustee Fees		$4,500	$2,189	$4,500	$6,500		
Dissemination		$5,500	$3,250	$5,500	$5,500		
Arbitrage		$1,200	$1,200	$1,200	$1,200		
Management Fees		$45,000	$26,250	$45,000	$45,000		
Information Technology		$1,500	$875	$2,500	$2,500		
Telephone		$100	$83	$150	$100		
Postage		$1,000	$565	$1,000	$1,000		
Printing & Binding		$2,700	$1,611	$2,700	$2,700		
Insurance		$8,669	$8,038	$8,038	$8,038		
Legal Advertising		$3,000	$751	$3,000	$3,000		
Other Current Charges (1)		$1,000	$496	$1,000	$1,000		
Office Supplies		$200	$85	$200	$200		
Dues, Licenses & Subscriptions		$175	$175	$175	$175		
							
Total Administrative		$148,344	$102,458	$163,291	$153,072		
Grounds Maintenance							
Field Operations Management		$32,500	$18,958	$32,500	$32,500		
Landscape Maintenance		$362,206	$234,545	$362,206	$579,438		
Mulch		$70,000	$470	$70,000	$70,000		
Landscape Reserves		$20,000	$25,208	$30,000	$20,000		
Landscaping - New Areas		$282,500	$2,799	$170,000	$0		
Irrigation Repairs and Maintenance		$7,620	$6,765	$7,620	$7,620		
Lakes, Vegetation and Algae Control	1	$46,683	$27,906	$46,683	$52,980		

River's Edge

Community Development District

	Adopted	Actual	Projected	Approved	
	Budget	Thru	Thru	Budget	
Description	FY 17	4/30/2017	9/30/2017	FY 18	
					
Irrigation Water Use	$155,600	$158,882	$200,000	$200,000	
Electric	$6,000	$5,893	$6,000	$6,000	
Street Lighting & Signage Repairs and Replacements	$10,000	$660	$10,000	$5,000	
Street and Drainage Maintenance	$5,000	$10,815	$15,000	$5,000	
Other Repairs and Maintenance	$5,000	$672	$5,000	$2,500	
					
Total Grounds Maintenance	$1,003,109	$493,573	$955,009	$981,038	
Amenity Center					
General Manager	$0	$0	$0	$32,500	
Facility Manager/Lifestyle Director (ASG)	$52,000	$30,333	$21,667	$26,750	
Lifeguards/Pool Attendants (ASG)	$13,289	$1,993	$13,289	$44,744	
Security Monitoring	$2,208	$1,104	$2,208	$2,208	
Security Guards	$60,000	$36,609	$60,000	$50,000	
Telephone	$8,600	$3,252	$6,000	$7,155	
Insurance	$34,609	$32,961	$32,961	$34,609	
General Facility Maint/Common Grounds Maint Staff	$52,500	$30,625	$52,500	$63,034	
Pool Maintenance	$13,666	$7,972	$13,666	$24,300	
Pool Chemicals	$11,136	$4,462	$11,136	$11,136	
Janitorial Services/Supplies	$7,701	$4,492	$7,701	$22,788	
Window Cleaning	$2,767	$1,989	$4,000	$2,767	
Propane Gas	$1,500	$218	$250	$500	
Electric	$25,000	$13,033	$25,000	$25,000	
Sewer/Water/Irrigation	$36,753	$25,357	$36,753	$36,753	
Repair and Replacements	$25,000	$27,116	$28,000	$23,600	
Refuse	$7,900	$5,661	$10,000	$7,900	
Pest Control	$2,240	$1,225	$2,240	$5,840	
Facility Preventative Maintenance	$2,680	$0	$2,680	$2,680	
Access Cards	$500	$0	$500	$500	
License/Permits	$1,968	$792	$2,250	$1,968	
Other Current	$1,500	$760	$1,600	$1,500	
Special Events	$6,000	$23,626	$30,000	$20,000	
Landscape Replacements	$500	$0	$500	$500	
Office Supplies/Postage	$1,400	$906	$2,000	$1,400	
Capital Expenditure	$6,000	$636	$6,000	$3,772	
Developer Amenity Replacements	$0	$59,782	$59,782	$0	
General Reserve	$0	$0	$0	$8,421	
Total Amenity Center Expenses	$377,417	$314,904	$432,683	$462,325	

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River's Edge

Community Development District

	Adopted	Actual	Projected	Approved	
	Budget	Thru	Thru	Budget	
Description	FY 17	4/30/2017	9/30/2017	FY 18	
					
River Club Amenity					
General Manager	$0	$0	$0	$32,500	
Community Maintenance Staff	$0	$0	$0	$26,750	
Facility Attendants	$0	$0	$0	$42,200	
Security Monitoring	$0	$0	$0	$2,000	
Telephone	$0	$0	$0	$5,000	
Insurance	$0	$0	$0	$0	
General Facility Maint/Common Grounds Maint Staff	$0	$0	$0	$30,093	
Pool Maintenance	$0	$0	$0	$12,150	
Pool Chemicals	$0	$0	$0	$10,000	
Janitorial Services	$0	$0	$0	$11,394	
Window Cleaning	$0	$0	$0	$2,500	
Propane Gas	$0	$0	$0	$500	
Electric	$0	$0	$0	$20,000	
Sewer/Water/Irrigation	$0	$0	$0	$30,000	
Repair and Replacements	$0	$0	$0	$5,000	
Refuse	$0	$0	$0	$7,000	
Pest Control	$0	$0	$0	$2,500	
Facility Preventative Maintenance	$0	$0	$0	$2,000	
Access Cards	$0	$0	$0	$0	
License/Permits	$0	$0	$0	$1,500	
Other Current	$0	$0	$0	$1,000	
Special Events	$0	$0	$0	$20,000	
Landscape Replacements	$0	$0	$0	$500	
Office Supplies/Postage	$0	$0	$0	$500	
Capital Expenditure	$0	$0	$0	$0	
Capital Reserves	$0	$0	$0	$0	
					
Total Amenity Center Expenses	$0	$0	$0	$265,087	
					
Total Expenses	$1,528,870	$910,935	$1,550,983	$1,861,522	
					
Excess Revenues (Expenditures)	$0	$584,627	$99,097	$0	

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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.

Developer Cost Share

Mattamy Rivertown LLC agrees to cost share a portion of the maintenance costs for roadways and surface water management systems.

Developer Funding – River Club Amenity

Mattamy Rivertown LLC agrees to fund the operations & maintenance expenses of the new River Club Amenity.

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.

EXPENDITURES:

Administrative:

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 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.

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River’s Edge

Community Development District

GENERAL FUND BUDGET

Trustee Fees

A Trustee at U.S. BANK holds the District’s series 2008A and series 2016 Special Assessment Revenue Bonds. The amount represents the 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 Special Assessment 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. These services are further outlined in Exhibit “A” of the Management Agreement.

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 Governmental Management Services, LLC.

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 specializes in providing insurance coverage to governmental agencies.

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River’s Edge

Community Development District

GENERAL FUND BUDGET

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 plans to contract with a service organization to provide services for field contract administration, field inspections, and oversight of the following maintenance items: Landscape, Lakes, and Utilities.

Contractor	Monthly	Annual	
Riverside Management Service,			
LLC	$1,605	$32,500	

Landscape Maintenance

The District contracted with Valleycrest Landscape Maintenance to maintain the common areas of the District and Amenity Center.

Contract	Monthly	Annual	
CDD Landscape Maintenance	$31,172	$374,059	
Amenity Center Landscape			
Maintenance	$8,099	$97,187	
Pocket Park	$350	$4,200	
Lakes 1	$4,759	$57,108	
Landings	$3,107	$37,284	
Annuals	$800	$9,600	
	$48,287	$579,438	
			
Mulch

Mulching of areas within the District, are under separate contract from landscaping and take place annually in late summer.

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River’s Edge

Community Development District

GENERAL FUND BUDGET

Landscape Reserve

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 AerostarSES for storm water inspection services.

Contractor	Monthly	Annual	
Charles Aquatics	$1,605	$19,260	
AeorstarSES	$2,100	$25,200	
	$710	$8,520	
	$4,415	$52,980	
			
Irrigation/Reclaimed Water

Estimated costs for irrigation by the district billed by JEA .

	Location	Meter	Monthly	Annual		
		Number				
						
15 Baya St	71174367	$885	$10,614		
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	68090740	$107	$1,282		
IR01					
					
Contingency for new accounts		$1,543	$18,521		
						
			$16,667	$200,000		

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River’s Edge

Community Development District

GENERAL FUND BUDGET

Electric (Street Lights and Pumps)

Estimated costs for electric billed to the district by FPL.

Location	Meter Number	Monthly	Annual	
147 Chipola Trce #Lights	8461452438	$18	$219	
156 Landing St # Lights	5292756029	$114	$1,371	
1758 Orange Branch Trl	3022429090	$27	$318	
251 Waterfront Dr #Lights	7663646300	$23	$277	
373 Waterfront Dr # Lights	849527304	$18	$220	
380 Sternwheel Dr	2961434400	$126	$1,517	
47 Narrowleaf Dr # Mail Kiosk	3733493484	$8	$94	
71 Landing St #Park	7975970117	$14	$172	
8 Mascotte Place	7123229028	$25	$303	
87 Kendall Crossing Dr #Kiosk	5465700168	$18	$218	
98 Perdido St #Lights	9390325356	$21	$257	
Contingency		$86	$1,034	
		$500	$6,000	

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

Facility Manager/Lifestyle Director

The District has contracted with Amenity Services Group, Inc./Vesta to provide Facility Administration & special event coordinator services.

Contractor	Monthly	Annual	
Amenity Services Group	$2,229	$26,750	

Lifeguards/Pool Attendants

The District has contracted with Amenity Services Group, Inc./Vesta to provide pool lifeguards/or pool attendants during the operating season for the pool.

Contractor	Monthly	Annual	
Amenity Services Group	$3,729	$44,744	

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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	$4,167	$50,000	

Telephone

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

	Account			
Contractor	Number	Monthly	Annual	
AT&T	904-940-9393	$426	$5,108	
AT&T Uverse	146442959	$93	$1,116	
AT&T Uverse	144476292	$69	$824	
	Contingency	$9	$107	
		$596	$7,155	

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.

General Facility Maintenance/Common Ground Maintenance

The District is under contract with Amenity Services Group to provide maintenance and repairs necessary for upkeep of the Amenity Center and common ground areas.

Contractor	Monthly	Annual	
Amenity Services Group	$5,253	$63,034	

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River’s Edge

Community Development District

GENERAL FUND BUDGET

Pool Maintenance

The District is under contract with Amenity Services Group for the maintenance of the Amenity Center Swimming Pools.

Contractor	Monthly	Annual	
Amenity Services Group	$2,025	$24,300	

Pool Chemicals

The District is under contract with Amenity Services Group to provide pool chemicals for the maintenance of the Amenity Center Swimming Pools.

Contractor	Monthly	Annual	
Amenity Services Group	$928	$11,136	

Janitorial Services

The District is under contract with Amenity Services Group 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	$42	$500	

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	

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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				
	Number	Monthly	Annual		
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	$2,676		
			$3,361	$36,753		

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.

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River’s Edge

Community Development District

GENERAL FUND BUDGET

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 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 capital related purchases for the operation of the Amenity Center.

General Reserve

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

River Club Amenity Expenses

The River Club Amenity facility is scheduled for opening in October 2018. The facility is planned to be an asset of a future Community Development District for usage of the Rivertown Community. The individual line item costs are estimates at this time and are fully funded by Mattamy Rivertown, LLC. Line item general descriptions are contained in the Amenity Center Expense Narrative.

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River's Edge

Community Development District			Debt Service Fund	
			Series 2008A	
					
	Adopted	Actual	Projected	Approved	
	Budget	Thru	Thru	Budget	
Description	FY 17	4/30/17	9/30/2017	FY 18	
					
Revenues					
Assessments - Tax Roll/Direct	$1,049,238	$578,062	$581,332	$577,110	
Assessments - Prepayment	$0	$10,344	$10,344	$0	
Interest Income	$0	$1,813	$2,035	$1,000	
Carry Forward Surplus (1)	$427,763	$874,195	$874,195	$227,353	
					
Total Revenues	$1,477,001	$1,464,414	$1,467,906	$805,463	
Expenditures					
Series 2008A					
Interest 11/1	$404,430	$404,430	$404,430	$218,620	
Principal 11/1 (Special Call)	$0	$15,000	$15,000	$0	
Interest 5/1	$404,430	$0	$223,210	$218,620	
Principal 5/1	$240,000	$0	$135,000	$145,000	
Principal 5/1 (Special Call)	$0	$0	$15,000	$0	
Transfer Out (1)	$23,333	$13,566	$13,566	$8,732	
Transfer Out to Escrow Agent	$0	$434,347	$434,347	$0	
					
Total Expenses	$1,072,193	$867,343	$1,240,553	$590,973	
					
EXCESS REVENUES / (EXPENDITURES)	$404,808	$597,071	$227,353	$214,490	
		Interest Payment 11/01/2018 $	213,690.00	

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

	Net	Gross	
Land Use	Per Unit	Per Unit	
30	$862.27	$917.31	
40	$1,040.73	$1,107.16	
50	$1,219.19	$1,297.01	
60	$1,397.64	$1,486.85	
70	$1,675.00	$1,781.91	
80	$1,862.00	$1,980.85	
90	$2,049.00	$2,179.79	

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River's Edge

Community Development District

Series 2008A Special Assessment Bonds

AMORTIZATION SCHEDULE

	DATE		BALANCE	RATE		PRINCIPAL		INTEREST			TOTAL	
05/01/17	$	6,565,000.00	6.80%	$	135,000.00	$	223,210.00	$		-	
11/01/17	$	6,430,000.00	6.80%	$	-	$	218,620.00	$		576,830.00	
	05/01/18	$	6,430,000.00	6.80%	$	145,000.00	$	218,620.00	$		-	
	11/01/18	$	6,285,000.00	6.80%	$	-	$	213,690.00	$		577,310.00	
	05/01/19	$	6,285,000.00	6.80%	$	155,000.00	$	213,690.00	$		-	
11/01/19	$	6,130,000.00	6.80%	$	-	$	208,420.00	$		577,110.00	
05/01/20	$	6,130,000.00	6.80%	$	165,000.00	$	208,420.00	$		-	
11/01/20	$	5,965,000.00	6.80%	$	-	$	202,810.00	$		576,230.00	
05/01/21	$	5,965,000.00	6.80%	$	175,000.00	$	202,810.00	$		-	
11/01/21	$	5,790,000.00	6.80%	$	-	$	196,860.00	$		574,670.00	
05/01/22	$	5,790,000.00	6.80%	$	185,000.00	$	196,860.00	$		-	
11/01/22	$	5,605,000.00	6.80%	$	-	$	190,570.00	$		572,430.00	
05/01/23	$	5,605,000.00	6.80%	$	200,000.00	$	190,570.00	$		-	
11/01/23	$	5,405,000.00	6.80%	$	-	$	183,770.00	$		574,340.00	
05/01/24	$	5,405,000.00	6.80%	$	215,000.00	$	183,770.00	$		-	
11/01/24	$	5,190,000.00	6.80%	$	-	$	176,460.00	$		575,230.00	
05/01/25	$	5,190,000.00	6.80%	$	230,000.00	$	176,460.00	$		-	
11/01/25	$	4,960,000.00	6.80%	$	-	$	168,640.00	$		575,100.00	
05/01/26	$	4,960,000.00	6.80%	$	245,000.00	$	168,640.00	$		-	
11/01/26	$	4,715,000.00	6.80%	$	-	$	160,310.00	$		573,950.00	
05/01/27	$	4,715,000.00	6.80%	$	265,000.00	$	160,310.00	$		-	
11/01/27	$	4,450,000.00	6.80%	$	-	$	151,300.00	$		576,610.00	
05/01/28	$	4,450,000.00	6.80%	$	280,000.00	$	151,300.00	$		-	
11/01/28	$	4,170,000.00	6.80%	$	-	$	141,780.00	$		573,080.00	
05/01/29	$	4,170,000.00	6.80%	$	300,000.00	$	141,780.00	$		-	
11/01/29	$	3,870,000.00	6.80%	$	-	$	131,580.00	$		573,360.00	
05/01/30	$	3,870,000.00	6.80%	$	320,000.00	$	131,580.00	$		-	
11/01/30	$	3,550,000.00	6.80%	$	-	$	120,700.00	$		572,280.00	
05/01/31	$	3,550,000.00	6.80%	$	345,000.00	$	120,700.00	$		-	
11/01/31	$	3,205,000.00	6.80%	$	-	$	108,970.00	$		574,670.00	
05/01/32	$	3,205,000.00	6.80%	$	370,000.00	$	108,970.00	$		-	
11/01/32	$	2,835,000.00	6.80%	$	-	$	96,390.00	$		575,360.00	
05/01/33	$	2,835,000.00	6.80%	$	395,000.00	$	96,390.00	$		-	
11/01/33	$	2,440,000.00	6.80%	$	-	$	82,960.00	$		574,350.00	
05/01/34	$	2,440,000.00	6.80%	$	425,000.00	$	82,960.00	$		-	
11/01/34	$	2,015,000.00	6.80%	$	-	$	68,510.00	$		576,470.00	
05/01/35	$	2,015,000.00	6.80%	$	455,000.00	$	68,510.00	$		-	
11/01/35	$	1,560,000.00	6.80%	$	-	$	53,040.00	$		576,550.00	
05/01/36	$	1,560,000.00	6.80%	$	485,000.00	$	53,040.00	$		-	
11/01/36	$	1,075,000.00	6.80%	$	-	$	36,550.00	$		574,590.00	
05/01/37	$	1,075,000.00	6.80%	$	520,000.00	$	36,550.00	$		-	
11/01/37	$	555,000.00	6.80%	$	-	$	18,870.00	$		575,420.00	
05/01/38	$	555,000.00	6.80%	$	555,000.00	$	18,870.00	$		573,870.00	
												
					$	6,565,000.00	$	6,084,810.00	$	$	12,649,810.00	

14

River's Edge

Community Development District			Debt Service Fund	
			Series 2016	
					
	Proposed	Actual	Projected	Approved	
	Budget	Thru	Thru	Budget	
Description	FY 17	4/30/17	9/30/2017	FY 18	
Revenues					
Assessments - Tax Roll/Direct	$711,978	$711,978	$711,978	$711,978	
Bond Proceeds	$5,402,262	$5,402,262	$5,402,262	$0	
Interest Income	$1,000	$872	$1,000	$1,000	
Carry Forward Surplus	$0	$0	$0	$275,152	
					
Total Revenues	$6,115,240	$6,115,112	$6,115,240	$988,130	
Expenditures					
Series 2016					
Interest 11/1	$0	$0	$0	$272,525	
Interest 5/1	$277,719	$0	$277,719	$272,525	
Principal 5/1	$160,000	$0	$160,000	$170,000	
Transfer Out to Escrow Agent	$5,188,669	$5,188,669	$5,188,669	$0	
					
Total Expenses	$5,626,388	$5,188,669	$5,626,388	$715,050	
					
EXCESS REVENUES / (EXPENDITURES)	$488,852	$926,443	$488,851	$273,080	
		Interest Payment 11/01/2018  $	268,640.00	

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

		Gross	Gross	
Development	Units	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	

15

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	$	-	

16

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			$	122,562.50	$	711,977.50	
05/01/39	$	4,625,000.00	$	475,000.00	$	122,562.50			
11/01/39	$	4,150,000.00			$	109,975.00	$	707,537.50	
05/01/40	$	4,150,000.00	$	505,000.00	$	109,975.00			
11/01/40	$	3,645,000.00			$	96,592.50	$	711,567.50	
05/01/41	$	3,645,000.00	$	530,000.00	$	96,592.50			
11/01/41	$	3,115,000.00			$	82,547.50	$	709,140.00	
05/01/42	$	3,115,000.00	$	560,000.00	$	82,547.50			
11/01/42	$	2,555,000.00			$	67,707.50	$	710,255.00	
05/01/43	$	2,555,000.00	$	590,000.00	$	67,707.50			
11/01/43	$	1,965,000.00			$	52,072.50	$	709,780.00	
05/01/44	$	1,965,000.00	$	620,000.00	$	52,072.50			
11/01/44	$	1,345,000.00			$	35,642.50	$	707,715.00	
05/01/45	$	1,345,000.00	$	655,000.00	$	35,642.50			
11/01/45	$	690,000.00			$	18,285.00	$	708,927.50	
05/01/46	$	690,000.00	$	690,000.00	$	18,285.00			
11/01/46	$	-			$	-	$	708,285.00	
				$	10,765,000.00	$	10,524,299.37	$	21,289,299.37	

17

Rivers Edge Community Development District

FY 2018 Operations and Maintenance Methodology

Equivalent Residential Unit Allocation

Assessments per Unit - Net and Gross

																																				(Decrease)		
																														FY 2018	FY 2018	FY 2017	Increase		
								Current		Future											FY 2018	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	59			59			50.15	3.66%		$54,865.68		$929.93	$989.28	$993.20	($4)		
Single Familiy - 30' Lot	0.62		21	0			21			13.02	0.95%		$14,244.29		$678.30	$721.60	$721.24	$0			
Single Familiy - 40' Lot	0.74		57	305			362			267.88	19.54%		$293,069.13		$809.58	$861.26	$870.32	($9)		
Single Familiy - 50' Lot	0.87		184	373			557			484.59	35.35%		$530,156.68		$951.81	$1,012.56	$1,019.40	($7)		
Single Familiy - 60' Lot	1		81	0			81			81	5.91%		$88,616.54		$1,094.03	$1,163.86	$1,168.47	($5)		
Single Familiy - 70' Lot	1.2		103	147			250			300	21.88%		$328,209.42		$1,312.84	$1,396.64	$1,401.65	($5)		
Single Familiy - 80' Lot	1.33		21	109			130			172.9	12.61%		$189,158.03		$1,455.06	$1,547.94	$1,556.35	($8)		
Single Familiy - 90' Lot	1.47		1	0			1			1.47	0.11%		$1,608.23		$1,608.23	$1,710.88	$1,712.71	($2)		
	Total														100.00%													
						468		993			1,461			1,371.01			$1,499,928											
	FY 2018 Budget:																																					
	Administrative	$153,072																																	
	Field and Grounds	$981,038																																	
	Amenity Center	$365,818																																	
																																					
				$1,499,928																																	

18