Rivers

Edge
Community Development District

Proposed Budget
FY2025

Presented by:

Table of Contents

1-2

3-9

10-11

12-13

14-16

17

	General Fund

	Narratives

	Debt Service Fund Series 2016

	Debt Service Fund Series 2018

	Debt Service Fund Series 2018 A1 & A2

	Capital Reserve Fund

18		Assessment Schedule

Adopted
Budget	Actuals Thru	Projected Next  Projected Thru

Proposed Budget

Description	FY2024	3/31/24		6 Months		9/30/24	FY 2025	
REVENUES:						
Special Assessments - On Roll	$	2,402,218	$	2,366,073	$	36,077	$	2,402,150	$	2,499,646	
Misc Income/Interest	30,000	23,489	20,000	43,489	30,000	
Rental Revenue	20,000	18,155	15,000	33,155	30,000	
Cost Share Landscaping Rivers Edge II	688,424	344,212	344,212	688,424	688,424	
Cost Share Landscaping Rivers Edge III	162,917	81,459	81,458	162,917	162,917	
Cost Share Amenity Rivers Edge III	248,626	124,313	124,313	248,626	279,911	
Community Garden	1,000	-	1,000	1,000	1,500	
Tennis Revenue	4,000	335	3,665	4,000	1,000	
Special Events	-	15,497	10,000	25,497	15,000	
Insurance Proceeds	-	1,476	-	1,476	-	
Carry Forward	27,290	-	27,290	27,290	21,882	
TOTAL REVENUES	$ 3,584,475	$ 2,975,009	$	663,015	$ 3,638,024	$ 3,730,280	

EXPENDITURES:						
Administrative						
Supervisor Fees	$	12,000	$	4,800	$	6,000	$	10,800	$	12,000	
FICA Expense	918	367	459	826	918	
District Engineer	25,000	16,006	8,994	25,000	25,000	
District Counsel	55,000	15,044	39,956	55,000	55,000	
District Management	52,868	26,434	26,433	52,868	56,040	
Assessment Roll Administration	5,300	5,300	-	5,300	5,618	
Dissemination Agent	6,466	3,433	3,033	6,466	6,854	
Information Technology	3,061	1,531	1,530	3,061	3,244	
Website Maintenance	1,577	788	788	1,577	1,671	
Annual Audit	5,100	-	5,100	5,100	5,200	
Trustee Fees	13,500	11,205	2,295	13,500	12,500	
Arbitrage	1,800	1,200	600	1,800	1,800	
Telephone	800	51	449	500	500	
Postage	1,500	705	795	1,500	1,500	
Printing & Binding	3,000	336	2,664	3,000	3,000	
Insurance	11,116	10,570	-	10,570	11,126	
Legal Advertising	3,500	-	2,500	2,500	2,500	
Other Current Charges	2,000	-	500	500	500	
Office Supplies	150	7	143	150	100	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$	204,830	$	97,952	$	102,240	$	200,192	$	205,246	

Operations & Maintenance						
Grounds Maintenance
Field Operations Management (Vesta)	
$	37,253	
$	18,627	
$	18,626	
$	37,253	
$	38,370	
Landscape Maintenance	1,321,303	528,257	793,046	1,321,303	1,347,729	
Landscape Contingency	60,000	29,322	30,678	60,000	61,200	
Irrigation Repairs and Maintenance	30,000	57,030	15,000	72,030	45,000	
Lake Maintenance	56,340	32,283	27,717	60,000	56,340	
Irrigation Water Use	288,000	90,511	125,000	215,511	245,000	
Electric	140,000	78,535	78,600	157,135	158,000	
Street Lighting & Signage Repairs and Replacements	20,000	22,997	5,000	27,997	20,000	
Street and Drainage Maintenance	5,000	-	2,500	2,500	5,000	
Repairs and Maintenance	10,000	24,498	25,000	49,498	18,530	
TOTAL GROUNDS MAINTENANCE	$ 1,967,896	$	882,060	$ 1,121,167	$ 2,003,227	$ 1,995,170	

Adopted
Budget	Actuals Thru	Projected Next  Projected Thru

Proposed Budget

Description	FY2024	3/31/24		6 Months		9/30/24	FY 2025	

Amenity Center - River House
General Manager (Vesta)	

$	48,172	

$	24,740	

$	23,432	

$	48,172	

$	49,617	
Amenity Manager (Vesta)	19,478	9,739	9,739	19,478	20,062	
Maintenance Service (Vesta)	78,837	39,419	39,418	78,837	81,202	
Lifestyle Director (Vesta)	38,136	19,068	19,068	38,136	39,280	
Lifeguards (Vesta)	47,390	5,712	41,678	47,390	48,812	
Facility Attendant (Vesta)	63,291	31,646	31,645	63,291	65,190	
Security Monitoring	3,500	1,192	2,308	3,500	3,500	
Security Guards	75,000	50,287	50,000	100,287	100,000	
Telephone & Internet	14,582	22,672	25,200	47,872	38,000	
Insurance	142,002	95,345	-	95,345	106,238	
Fitness Equipment Lease	27,921	27,921	-	27,921	27,921	
Pool Maintenance (Vesta)	10,312	5,156	5,156	10,312	10,621	
Janitorial Services & Supplies (Vesta)	31,933	16,002	15,931	31,933	32,891	
Window Cleaning	2,767	-	-	-	-	
Pressure Washing	30,000	-	20,000	20,000	20,000	
Pool Chemicals (Poolsure)	19,440	8,974	10,466	19,440	20,420	
Natural Gas	510	221	180	401	410	
Electric	37,320	18,045	18,300	36,345	37,000	
Water & Sewer	53,570	19,281	21,000	40,281	45,000	
Repair and Replacements	110,000	49,944	60,056	110,000	110,000	
Refuse	37,200	23,935	24,000	47,935	50,000	
Pest Control	6,588	5,620	5,500	11,120	12,000	
Fire Alarm System Maintenance	2,000	-	2,000	2,000	2,000	
Access Cards	1,000	3,250	-	3,250	3,250	
License & Permits	1,800	536	1,264	1,800	1,800	
Other Current	3,500	4,700	300	5,000	8,000	
Special Events	50,000	30,805	19,195	50,000	50,000	
Holiday Decorations	13,500	12,575	925	13,500	20,150	
Office Supplies & Postage	1,500	3,177	3,000	6,177	3,500	
Capital Expenditure	15,000	-	7,500	7,500	-	
Community Garden	500	-	500	500	500	
TOTAL AMENITY CENTER - RIVER HOUSE	$	986,749	$	529,963	$	457,760	$	987,723	$ 1,007,364	

Reserves
General Reserve - Grounds Maintenance	

$	100,000	

$	-	

$	100,000	

$	100,000	

$	100,000	
General Reserve - Amenity Center	175,000	-	175,000	175,000	180,000	
Additional Reserves	150,000	-	150,000	150,000	242,500	
TOTAL RESERVES	$	425,000	$	-	$	425,000	$	425,000	$	522,500	
						
TOTAL EXPENDITURES	$ 3,584,475	$ 1,509,975	$ 2,106,167	$ 3,616,142	$ 3,730,280	

Other Sources/(Uses)						
Interlocal Transfer In/(Out)	-	-	-	-	-	
TOTAL OTHER SOURCES/(USES)	$	-  $	-  $	-  $	-	$	-	

EXCESS REVENUES (EXPENDITURES)

$

-  $ 1,465,033  $ (1,443,151)  $	21,882  $

(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
Misc Income/Interest
Miscellaneous Income from proceeds from access cards from residents and guest of the community and any other income 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. Also included are insurance reimbursement costs.
Rental Revenue
Income received from residents/non-residents for rental of cabana, pool and River House area.
Cost Share Landscaping Rivers Edge II
Mattamy Rivertown LLC and Rivers Edge CDD II agreement to cost share a portion of the maintenance costs for landscaping. Cost share is based on future development and estimated costs.
Cost Share Landscaping Rivers Edge III
Mattamy Rivertown LLC and Rivers Edge CDD III agreement to cost share a portion of the maintenance costs for landscaping. Cost share is based on future development and estimated costs.
Cost Share Amenity Rivers Edge III
Mattamy Rivertown LLC and Rivers Edge CDD III agreement to cost share a portion of the maintenance costs for amenities. Cost share is based on future development and estimated costs.
Community Garden
Income received from community garden fees.
Tennis Revenue
Income received from tennis camps.
Special Events
Income received from residents for rental of clubroom or patio and special events deposits.

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 Engineer
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.
District Counsel
The District’s legal counsel, Kilinski Van Wyk, PPLC will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.
Management Fees
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
The District has contracted with Governmental Management Services for the certification of the District’s annual maintenance and debt service assessments to the County Tax Collector.
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.

Expenditures - Administrative (continued)

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 Maintenance
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS, LLC and updated monthly.
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
A Trustee at U.S. Bank holds the District’s series 2016, 2018, & 2018A Special Assessment Revenue Bonds. The amount represents the fee for the administration of the District’s bond issue.
Arbitrage Rebate
The District is required to annually have an arbitrage rebate calculation on the District’s Series 2016, 2018, & 2018A Special Assessment Refunding and Revenue Bonds. The District has contracted with Grau and Associates to calculate the rebate liability and submit a report to the District.
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 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
The District is required to pay an annual fee to the Florida Department of Commerce for $175.

Expenditures – Field

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.
Vendor	Description	Monthly	Annual

Landscape Maintenance

Vesta	Field Operation Mgmt

$	3,198

$  38,370

The District contracted with Yellowstone to maintain the common areas of the District and Amenity Center.
Landscape Contingency
For additional landscape services and possible storm cleanup.
Irrigation Repairs and Maintenance
Estimated miscellaneous irrigation maintenance and repair costs.

Expenditures – Field (continued)

Lake Maintenance
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.
Vendor	Description	Monthly	Annual	
Charles Aquatics	Lake Mainteance	$	4,470	$  53,640	
	Contingency			2,700 	
	Total		$ 56,340	
Irrigation/Reclaimed Water				
Estimated costs for irrigation by the district for reuse water billed by JEA.				
Location	Meter Number	Monthly	Annual	
10 Bailey Creek Apr	87744848	$	57	$	684	
109 Cloverbrook Rd	85557736	39	468	
109 Fawnwood	86408611	251	3,012	
112 Maybeck Dr	84918378	50	600	
121 Cabot Place Apt IR01	85639239	73	876	
1217 Rivertown Main St	87743256	829	9,948	
128 Maybeck Dr	84966345	977	11,724	
140 Whistling Straits Dr	84332628	1,020	12,240	
141 Kendall Crossings	86624382	870	10,440	
141 Whirlaway Ct	210027239	74	888	
149 Lanier St Apt IR01	80914013	766	9,192	
15 Baya St	71174367	350	4,200	
15 Kendall Crossings Dr	88897801	601	7,212	
16 Cloverbrook	82157881	79	948	
1668 Orange Branch TL APT IR01	80529647	299	3,588	
17 Baya St	73270055	89	1,068	
1846 Orange Branch Trl	68953528	637	7,644	
234 Perdido St	75392334	20	245	
252 Rawlings Dr Apt IR01	68090707	1,500	18,000	
258 Rivertown Main St	83003077	1,136	13,632	
261 Indian Grass	85083644	805	9,660	
262 Chandler Dr APT IR01	86823624	84	1,008	
277 Footbridge Apt IR01	87647651	55	660	
29 Rivertown Bv	68090742	1,383	16,592	
308 Oak Shadow Pl	88310615	91	1,089	
316 Rambling Water Run	67153677	369	4,433	
32 Fawnwood	88310637	50	599	
324 Silkgrass Pl	87614708	43	519	
33 Calumet Dr Apt IR01	80575469	151	1,815	
341 Calumet Dr Apt IR01	83003074	369	4,424	
345 Orange Branch TL APT IR01	84682773	1,292	15,504	
366 Sternwheel Dr	86349187	845	10,140	
373 Waterfront Dr	68090725	912	10,944	
386 Perdido St Apt LS01	74759223	83	996	
39 Riverwalk Blvd	71731588	103	1,236	
39 Riverwalk Blvd	70602127	56	672	
405 Oak Shadow Pl	87386163	90	1,080	
407 Yearling BV	78727795	88	1,056	
41 Indian Grass Rd	83547108	201	2,412	
41 Oak Shadow Pl	87614709	102	1,224	
481 Indian Grass	85083641	738	8,856	
49 Fiddlewood Dr	89393736	92	1,104	
498 Narrowleaf Dr Apt IR01	84966365	732	8,784	
547 Rivertown Main Street	82400253	60	720	
598 Kendall Crossings Dr	83113752	526	6,312	
674 Sternwheel Dr	72407045	110	1,324	
6824 Longleaf Pine PY APT IR01	87614645	67	800	
7601 Longleaf Pine PY	70204198	38	450	
7904 Longleaf Pine PY	71731573	58	696	
8102 Longleaf Pine PY	70204176	58	696	
847 Orange Branch TL APT IR01	80914007	310	3,720	
87 Kendall Crossing Dr Apt IR01	68090740	390	4,679	
88 Riverfront TL	71731611	299	3,588	
Contingency		50	600 
Total	$  20,417  $ 245,000

Expenditures – Field (continued)

Electric (Street Lights and Pumps)
Estimated costs for electric billed to the district by FPL.
Location	Meter Number	Monthly	Annual	
373 Waterfront Dr # Lights	0849527304	$	34	$	408	
43 Secret River PL #Lights	0961173390	30	363	
66 Foot Bridge Dr #Lights	1840736282	58	695	
158 Chandler Dr #IRR	1948796477	26	317	
20 Cloverbrook Rd #IRR	1983445246	26	315	
153 Rawlings Dr #Lights	2027153390	60	725	
53 LANIER ST # LIGHTS	2138829185	49	586	
20 Twin Flower Pl #Entry	2306702586	30	355	
380 Sternwheel Dr	2961434400	181	2,167	
1758 Orange Branch Trl	3022429090	54	646	
49 Indian Grass Dr #IRR	3719284246	26	313	
47 Narrowleaf Dr # Mail Kiosk	3733493484	27	321	
595 Rivertown Main St #Lights	4535462172	56	666	
7306 Longleaf Pine Pkwy #Sign	5262085169	29	344	
156 Landing St # Lights	5292756029	115	1,380	
216 Perdido ST Kiosk	5465700168	34	414	
808 KEYSTONE CORNERS BLVD #IRR	5822774047	89	1,064	
459 Kendall Crossing Dr #LGTS	5923894249	29	347	
385 RUSKIN DR #LTG	6130612309	138	1,653	
783 Rivertown Main St. # Lights	6547572179	81	969	
25 Rafter Tail Ln #Entr	6649873020	31	376	
8 Mascotte Place	7123229028	50	604	
131 Rivertown Main St #Lights	7248902178	100	1,204	
251 Waterfront Dr #Lights	7663646300	36	428	
427 Rivertown Main St. #Lights	7862742173	81	971	
71 Landing St #Park	7975970117	30	360	
147 Chipola Trce #Lights	8461452438	31	378	
2198 Orange Branch Trl #ENTR	8521892243	81	972	
686 NARROWLEAF DR # IRR	9067238536	28	336	
484 INDIAN GRASS DR # IRR	9116255242	26	315	
109 Rivertown Main St. #Fountains	9328401261	2,249	26,987	
98 Perdido St #Lights	9390325356	34	403	
111 Orange Branch Trail	9614703305	8,712	104,550	
324 Silkgrass PL IRR	9116038283	28	337	
13 Fawnwood St	1136848288	34	405	
41 Oak Shadow Place	5656738282	28	335	
405 Oak Shadow Place	4043348285	28	335	
2346 Rivertown Main St #IRR	8251668029	138	1,653	
2126 Rivertown Main St #IRR	1483458020	74	884	
2804 RIVERTOWN MAIN ST #IRR	6119621099	70	839	
161 Palomar DR # IRR	7305570041	29	347	
Contingency		78	931 
Total	$  13,167  $ 158,000

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.

Expenditures – Amenity Center

General Manager
The District has contracted with Vesta Property Services, Inc. to provide general amenity management, facility administration, and special
Vendor	Description	Monthly	Annual

Amenity Manager

Vesta	General Manager

$	4,135

$  49,617

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.
Lifestyle Director
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.
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.
Vendor	Description	Monthly	Annual

Facility Attendant

Vesta	Lifeguards/Pool

$	4,068

$  48,812

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 provided by Sonitrol and quarterly monitoring by Dynamic Security.
Vendor	Description	Monthly	Annual	
Sonitrol	Security Monitoring	$	184	$	2,208	
Dynamic Security	Qrt Monitoring	35	420	
	Contingency			872 	
	Total		$	3,500	
Security Guards
The District has entered into contracts with Giddens Security for security patrols and mileage reimbursement on District property, and with the St. Johns Sheriff’s Office for off-duty patrols.
Vendor	Description		Monthly	Annual	
Giddens Security	Security Patrols	$	4,783  $  57,400	
SJCSO Off Duty	Security Patrols		3,550 	42,600 	
	Total		$ 100,000	

Telephone & Internet
The estimated cost for telephone and Internet services for the Amenity Center provided by AT&T.
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.
Fitness Equipment Lease
The District has contracted with Macrolease to rent fitness equipment.
Pool Maintenance
The District is under contract with Vesta Property Services, Inc. for the maintenance of the Amenity Center Swimming Pools.
Vendor	Description	Monthly	Annual

Janitorial Services & Supplies

Vesta	Pool Maintenance

$	885

$  10,621

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

Pressure Washing

Vesta	Janitorial Sv

$	2,741

$  32,891

Estimated costs to have the District Amenity Center pressure washed.

Pool Chemicals (Poolsure)
The District is under contract with Poolsure for the chemicals of the Amenity Center Swimming Pools.
Vendor	Description	Monthly	Annual

Poolsure	Pool Chemicals Oct-Mar  $

1,320  $

7,920

Poolsure	Pool Chemicals Apr-Sept	1,900	11,400
Contingency		1,100 
Total	$ 20,420

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

156 Landing St

$	30  $

360

Electric
Estimated costs for electric billed to the district by FPL.

Contingence		50 
Total	$	410

Water & Sewer

Location	Meter Number	Monthly	Annual	
156 Landing St Club House	0073172207	$	387	$	4,640	
136 Landing St (Tennis)	8675434248	1,883	22,599	
140 Landing St Fitness	2299084240	738	8,851	
Contingency for new accounts		76	910 
Total	$	3,083  $ 37,000

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

Location	Meter Number	Monthly	Annual	
156 Landing St -Sewer	84310710	$	600	$	7,200	
156 Landing St-Fire Sprinkler		72	864	
156 Landing St -Water	70924484	585	7,020	
156 Landing St -Water	84310710	420	5,040	
156 Landing St -Irrigation	68090752	1,100	13,200	
91 Lanier St.-Water	80913987	165	1,980	
91 Lanier St.-Sewer	80913987	379	4,548	
39 Riverwalk Blvd- Sewer	70602127	120	1,440	
88 Riverfront TL-Sewer	73060269	98	1,176	
88 Riverfront TL-Water	73060269	100	1,200	

Repair and Replacements

Contingency		111	1,332 
Total	$	3,750  $ 45,000

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.
Vendor	Description	Monthly	Annual	
Republic Services	Clubhouse	$	2,750	$  33,000	
Republic Services	Park	1,400	16,800	
	Contingency			200 	
	Total		$ 50,000	
Pest Control
The District is contracted with Turner’s Pest Control to provide for pest control services.
Vendor	Description	Monthly	Annual

Fire Alarm System Maintenance

Turners Pest Control	Pest Control

$	1,000

$  12,000

Represents the estimated cost for repairs and maintenance of fire alarm system.
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.

Expenditures – Amenity Center (continued)

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

Expenditures – Reserves

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

Proposed Budget
Debt Service Series 2016 Capital Improvement Revenue and Refunding Bonds

Description

Adopted Budget FY2024

Actuals Thru	Projected Next  Projected Thru

3/31/24

	6 Months	

9/30/24

Proposed Budget FY 2025

REVENUES:

Special Assessments - Tax Roll	$	710,248	$	699,813	$	10,670	$	710,483	$	709,452	
Special Assessments - Prepayment	-	13,317	-	13,317	-	
Interest Earnings	7,500	14,915	13,000	27,915	5,000	
Carry Forward Surplus (1)	308,145	308,738	-	308,738	326,526	
TOTAL REVENUES	$ 1,025,893	$ 1,036,783	$	23,670	$  1,060,453	$ 1,040,977	

EXPENDITURES:						
Interest - 11/1	$	244,595	$	244,595	$	-	$	244,595	$	238,910	
Principal Prepayment - 2/1	-	10,000	-	10,000	-	
Interest - 5/1	244,595	-	244,333	244,333	238,910	
Principal - 5/1	220,000	-	220,000	220,000	230,000	
Principal Prepayment - 5/1	-	-	15,000	15,000	-	
TOTAL EXPENDITURES	$	709,190	$	254,595	$	479,333	$	733,928	$	707,820	

Other Sources/(Uses)						

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	709,190	$	254,595	$	479,333	$	733,928	$	707,820	
						
EXCESS REVENUES (EXPENDITURES)	$	316,703	$	782,188	$  (455,662)	$	326,526	$	333,157	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25

 $	233,655 

AMORTIZATION SCHEDULE
Debt Service Series 2016 Capital Improvement Revenue and Refunding Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/24	$	9,150,000	4.5% / 5.3%		$	238,910	$	238,910	
05/01/25	9,150,000	4.5% / 5.3%	230,000	238,910		
11/01/25	8,920,000	4.5% / 5.3%		233,655	702,565	
05/01/26	8,920,000	4.5% / 5.3%	240,000	233,655		
11/01/26	8,680,000	4.5% / 5.3%		228,175	701,830	
05/01/27	8,680,000	5.2% / 5.3%	250,000	228,175		
11/01/27	8,430,000	5.2% / 5.3%		221,663	699,838	
05/01/28	8,430,000	5.2% / 5.3%	265,000	221,663		
11/01/28	8,165,000	5.2% / 5.3%		214,758	701,420	
05/01/29	8,165,000	5.2% / 5.3%	280,000	214,758		
11/01/29	7,885,000	5.2% / 5.3%		207,463	702,220	
05/01/30	7,885,000	5.2% / 5.3%	295,000	207,463		
11/01/30	7,590,000	5.2% / 5.3%		199,780	702,243	
05/01/31	7,590,000	5.2% / 5.3%	310,000	199,780		
11/01/31	7,280,000	5.2% / 5.3%		191,705	701,485	
05/01/32	7,280,000	5.2% / 5.3%	325,000	191,705		
11/01/32	6,955,000	5.2% / 5.3%		183,240	699,945	
05/01/33	6,955,000	5.2% / 5.3%	345,000	183,240		
11/01/33	6,610,000	5.2% / 5.3%		174,253	702,493	
05/01/34	6,610,000	5.2% / 5.3%	365,000	174,253		
11/01/34	6,245,000	5.2% / 5.3%		164,745	703,998	
05/01/35	6,245,000	5.2% / 5.3%	385,000	164,745		
11/01/35	5,860,000	5.2% / 5.3%		154,718	704,463	
05/01/36	5,860,000	5.2% / 5.3%	405,000	154,718		
11/01/36	5,455,000	5.2% / 5.3%		144,168	703,885	
05/01/37	5,455,000	5.2% / 5.3%	425,000	144,168		
11/01/37	5,030,000	5.2% / 5.3%		133,095	702,263	
05/01/38	5,030,000	5.2% / 5.3%	440,000	133,095		
11/01/38	4,590,000	5.3%		121,503	694,598	
05/01/39	4,590,000	5.3%	475,000	121,503		
11/01/39	4,115,000	5.3%		109,048	705,550	
05/01/40	4,115,000	5.3%	500,000	109,048		
11/01/40	3,615,000	5.3%		95,798	704,845	
05/01/41	3,615,000	5.3%	525,000	95,798		
11/01/41	3,090,000	5.3%		81,885	702,683	
05/01/42	3,090,000	5.3%	555,000	81,885		
11/01/42	2,535,000	5.3%		67,178	704,063	
05/01/43	2,535,000	5.3%	585,000	67,178		
11/01/43	1,950,000	5.3%		51,675	703,853	
05/01/44	1,950,000	5.3%	620,000	51,675		
11/01/44	1,330,000	5.3%		35,378	707,053	
05/01/45	1,330,000	5.3%	650,000	35,378		
11/01/45	680,000	5.3%		18,153	703,530	
05/01/46	680,000	5.3%	680,000	18,153	698,153	
Total	$	9,150,000	$	6,541,880	$	15,691,880	

Proposed Budget
Debt Service Series 2018 Capital Improvement Revenue Bonds

Description

Adopted Budget FY2024

Actuals Thru	Projected Next  Projected Thru

3/31/24

	6 Months	

9/30/24

Proposed Budget FY 2025

REVENUES:

Special Assessments Tax Roll	$	468,918	$	449,442	$	6,853	$	456,295	$	456,295	
Interest Earnings	5,000	8,781	7,500	16,281	5,000	
Carry Forward Surplus (1)	199,095	204,475	-	204,475	202,881	
TOTAL REVENUES	$	673,013	$	662,698	$	14,353	$	677,051	$	664,177	

EXPENDITURES:						
Interest - 11/1	$	172,085	$	172,085	$	-	$	172,085	$	168,955	
Interest - 5/1	172,085	-	172,085	172,085	168,955	
Principal - 5/1	125,000	-	125,000	125,000	130,000	
Principal Prepayment - 5/1	-	-	5,000	5,000	-	
TOTAL EXPENDITURES	$	469,170	$	172,085	$	302,085	$	474,170	$	467,910	

Other Sources/(Uses)						

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	469,170	$	172,085	$	302,085	$	474,170	$	467,910	
						
EXCESS REVENUES (EXPENDITURES)	$	203,843	$	490,613	$  (287,732)	$	202,881	$	196,267	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25

 $	165,835 

AMORTIZATION SCHEDULE
Debt Service Series 2018 Capital Improvement Revenue Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/24	$	6,430,000	4.800%		$	168,955	$	168,955	
05/01/25	6,430,000	4.800%	130,000	168,955		
11/01/25	6,300,000	4.800%		165,835	464,790	
05/01/26	6,300,000	4.800%	135,000	165,835		
11/01/26	6,165,000	4.800%		162,595	463,430	
05/01/27	6,165,000	4.800%	145,000	162,595		
11/01/27	6,020,000	4.800%		159,115	466,710	
05/01/28	6,020,000	4.800%	150,000	159,115		
11/01/28	5,870,000	5.200%		155,515	464,630	
05/01/29	5,870,000	5.200%	155,000	155,515		
11/01/29	5,715,000	5.200%		151,485	462,000	
05/01/30	5,715,000	5.200%	165,000	151,485		
11/01/30	5,550,000	5.200%		147,195	463,680	
05/01/31	5,550,000	5.200%	175,000	147,195		
11/01/31	5,375,000	5.200%		142,645	464,840	
05/01/32	5,375,000	5.200%	185,000	142,645		
11/01/32	5,190,000	5.200%		137,835	465,480	
05/01/33	5,190,000	5.200%	195,000	137,835		
11/01/33	4,995,000	5.200%		132,765	465,600	
05/01/34	4,995,000	5.200%	205,000	132,765		
11/01/34	4,790,000	5.200%		127,435	465,200	
05/01/35	4,790,000	5.200%	215,000	127,435		
11/01/35	4,575,000	5.200%		121,845	464,280	
05/01/36	4,575,000	5.200%	225,000	121,845		
11/01/36	4,350,000	5.200%		115,995	462,840	
05/01/37	4,350,000	5.200%	240,000	115,995		
11/01/37	4,110,000	5.200%		109,755	465,750	
05/01/38	4,110,000	5.200%	250,000	109,755		
11/01/38	3,860,000	5.350%		103,255	463,010	
05/01/39	3,860,000	5.350%	265,000	103,255		
11/01/39	3,595,000	5.350%		96,166	464,421	
05/01/40	3,595,000	5.350%	280,000	96,166		
11/01/40	3,315,000	5.350%		88,676	464,843	
05/01/41	3,315,000	5.350%	295,000	88,676		
11/01/41	3,020,000	5.350%		80,785	464,461	
05/01/42	3,020,000	5.350%	310,000	80,785		
11/01/42	2,710,000	5.350%		72,493	463,278	
05/01/43	2,710,000	5.350%	330,000	72,493		
11/01/43	2,380,000	5.350%		63,665	466,158	
05/01/44	2,380,000	5.350%	345,000	63,665		
11/01/44	2,035,000	5.350%		54,436	463,101	
05/01/45	2,035,000	5.350%	365,000	54,436		
11/01/45	1,670,000	5.350%		44,673	464,109	
05/01/46	1,670,000	5.350%	385,000	44,673		
11/01/46	1,285,000	5.350%		34,374	464,046	
05/01/47	1,285,000	5.350%	405,000	34,374		
11/01/47	880,000	5.350%		23,540	462,914	
05/01/48	880,000	5.350%	430,000	23,540		
11/01/48	450,000	5.350%		12,038	465,578	
05/01/49	450,000	5.350%	450,000	12,038	462,038	
Total	$	6,430,000	$	5,346,140	$	11,776,140	

Proposed Budget
Debt Service Series 2018A1 & A2 Capital Improvement Revenue Bonds

Description

Adopted Budget FY2024

Actuals Thru	Projected Next  Projected Thru

3/31/24

	6 Months	

9/30/24

Proposed Budget FY 2025

REVENUES:

Special Assessments - Tax Roll	$	444,981	$	438,298	$	6,683	$	444,981	$	444,246	
Interest Earnings	5,000	8,829	8,500	17,329	5,000	
Carry Forward Surplus (1)	117,816	124,635	-	124,635	138,360	
TOTAL REVENUES	$	567,797	$	571,762	$	15,183	$	586,945	$	587,606	

EXPENDITURES:						
Series 2018A-1						
Interest - 11/1	$	52,214	$	52,214	$	-	$	52,214	$	50,114	
Interest - 5/1	52,214	-	52,214	52,214	50,114	
Principal - 5/1	160,000	-	160,000	160,000	165,000	

Series 2018A-2						
Interest 11/1	$	44,516	$	44,641	$	-	$	44,641	$	42,531	
Principal Prepayment - 11/1	-	5,000	-	5,000	-	
Interest 5/1	44,516	-	44,516	44,516	42,531	
Principal 5/1	85,000	-	85,000	85,000	90,000	
Principal Prepayment - 5/1	-	-	5,000	5,000	-	
TOTAL EXPENDITURES	$	438,460	$	101,855	$	346,730	$	448,585	$	440,291	

Other Sources/(Uses)

Interfund transfer In/(Out)	$	-	$	-	$	-	$	-	$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	438,460	$	101,855	$	346,730	$	448,585	$	440,291	
						
EXCESS REVENUES (EXPENDITURES)	$	129,336	$	469,907	$  (331,547)	$	138,360	$	147,315	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25

 $	88,408 

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/24	$	2,880,000	2.625%		$	50,114	$50,114	
05/01/25	2,880,000	2.750%	165,000	50,114		
11/01/25	2,715,000	2.750%		47,846	262,960	
05/01/26	2,715,000	3.000%	170,000	47,846		
11/01/26	2,545,000	3.000%		45,296	263,141	
05/01/27	2,545,000	3.100%	175,000	45,296		
11/01/27	2,370,000	3.100%		42,583	262,879	
05/01/28	2,370,000	3.200%	180,000	42,583		
11/01/28	2,190,000	3.200%		39,703	262,286	
05/01/29	2,190,000	3.375%	185,000	39,703		
11/01/29	2,005,000	3.375%		36,581	261,284	
05/01/30	2,005,000	3.500%	190,000	36,581		
11/01/30	1,815,000	3.500%		33,256	259,838	
05/01/31	1,815,000	3.500%	200,000	33,256		
11/01/31	1,615,000	3.500%		29,756	263,013	
05/01/32	1,615,000	3.500%	205,000	29,756		
11/01/32	1,410,000	3.500%		26,169	260,925	
05/01/33	1,410,000	3.500%	215,000	26,169		
11/01/33	1,195,000	3.500%		22,406	263,575	
05/01/34	1,195,000	3.750%	220,000	22,406		
11/01/34	975,000	3.750%		18,281	260,688	
05/01/35	975,000	3.750%	230,000	18,281		
11/01/35	745,000	3.750%		13,969	262,250	
05/01/36	745,000	3.750%	240,000	13,969		
11/01/36	505,000	3.750%		9,469	263,438	
05/01/37	505,000	3.750%	250,000	9,469		
11/01/37	255,000	3.750%		4,781	264,250	
05/01/38	255,000	3.750%	255,000	4,781	259,781	
Total	$	2,880,000	$	840,421	$	3,720,421	

AMORTIZATION SCHEDULE
Debt Service Series 2018A2 Capital Improvement Revenue Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/24	$	1,750,000	4.375%		$	42,531	$	42,531	
05/01/25	1,750,000	4.375%	90,000	42,531		
11/01/25	1,660,000	4.375%		40,563	173,094	
05/01/26	1,660,000	4.375%	95,000	40,563		
11/01/26	1,565,000	4.375%		38,484	174,047	
05/01/27	1,565,000	4.375%	100,000	38,484		
11/01/27	1,465,000	4.375%		36,297	174,781	
05/01/28	1,465,000	4.375%	105,000	36,297		
11/01/28	1,360,000	4.375%		34,000	175,297	
05/01/29	1,360,000	5.000%	105,000	34,000		
11/01/29	1,255,000	5.000%		31,375	170,375	
05/01/30	1,255,000	5.000%	115,000	31,375		
11/01/30	1,140,000	5.000%		28,500	174,875	
05/01/31	1,140,000	5.000%	120,000	28,500		
11/01/31	1,020,000	5.000%		25,500	174,000	
05/01/32	1,020,000	5.000%	125,000	25,500		
11/01/32	895,000	5.000%		22,375	172,875	
05/01/33	895,000	5.000%	130,000	22,375		
11/01/33	765,000	5.000%		19,125	171,500	
05/01/34	765,000	5.000%	140,000	19,125		
11/01/34	625,000	5.000%		15,625	174,750	
05/01/35	625,000	5.000%	145,000	15,625		
11/01/35	480,000	5.000%		12,000	172,625	
05/01/36	480,000	5.000%	150,000	12,000		
11/01/36	330,000	5.000%		8,250	170,250	
05/01/37	330,000	5.000%	160,000	8,250		
11/01/37	170,000	5.000%		4,250	172,500	
05/01/38	170,000	5.000%	170,000	4,250	174,250	
Total	$	1,750,000	$	717,750	$	2,467,750	

Proposed Budget Capital Reserve Fund

Description

Adopted Budget FY2024

Actuals Thru	Projected Next  Projected Thru

3/31/24

	6 Months	

9/30/24

Proposed Budget FY 2025

REVENUES:

Interest Income

$	5,000  $

3,864  $

2,500  $

6,364  $

10,000

General Reserve - Grounds Maintenance	100,000	-	100,000	100,000	100,000
General Reserve - Amenity Center	175,000	-	175,000	175,000	180,000
Additional Reserves	150,000	-	150,000	150,000	242,500
Carryforward	808,528	828,240	-	828,240	1,008,604

TOTAL REVENUES

$ 1,238,528  $	832,104  $	427,500  $ 1,259,604  $ 1,541,104

EXPENDITURES:

Capital Outlay

Repair and Replacements

$	100,000  $

14,036  $

85,964  $

100,000  $

100,000

Capital Outlay	150,000	8,497	141,503	150,000	150,000
Other Current Charges	1,000	-	1,000	1,000	1,000

TOTAL EXPENDITURES

$	251,000  $	22,532  $	228,468  $	251,000  $	251,000

Other Sources/(Uses)

Transfer in/(Out)

$	-  $

-  $	-  $

-  $	-

TOTAL OTHER SOURCES/(USES)

$

-  $

-  $

-  $

-  $

-

TOTAL EXPENDITURES

$	251,000  $	22,532  $	228,468  $	251,000  $	251,000

EXCESS REVENUES (EXPENDITURES)

$	987,528  $	809,571  $	199,032  $ 1,008,604  $ 1,290,104

Capital Reserve Study	

General	
Description	FY 2025 Reserve Study	
Reserves Beginning of Year	$	1,162,516	
Contributions	430,829	
Interest Income	44,712	
Expenditures	57,720	
Anticipated Balance	$	1,695,777	
		
Description	Proposed Budget FY2025	
Reserves Beginning of Year	$	828,240	
Contributions	522,500	
Interest Income	10,000	
Expenditures	251,000	
Anticipated Balance	$	1,611,740	
		
Variance Reserve Study Vs Actual	$	(84,037)	

Rivers Edge
Community Development District
Non-Ad Valorem Assessments Comparison 2024-2025

Neighborhood	
Total Units	Bonds Units 2016	Bonds Units 2018	Bonds Units 2018A1
&A2	
Annual Maintenance Assessments	
Annual Debt Assessments	
	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY 2025	
FY 2025	
FY2024	
FY2024	
FY2024	Increase/ (decrease)	
				
Series 2016 Series 2018	Series 2018A1&A2	
Series 2016 Series 2018	Series 2018A1&A2	
Total	

Single Family - 30'-39' Lot	

23	

2	

0	

21	

$1,192.32	

$1,145.81	

$46.50	

$991.14	

$0.00	

$647.41	

$991.14	

$0.00	

$647.41	

$0.00	
Single Family - 40'-49' Lot	512	265	187	57	$1,423.09	$1,367.58	$55.51	$991.14	$1,121.81	$781.41	$991.14	$1,121.81	$781.41	$0.00	
Single Family - 50'-59' Lot	490	192	86	205	$1,673.09	$1,607.84	$65.26	$1,182.44	$1,318.88	$915.40	$1,182.44	$1,318.88	$915.40	$0.00	
Single Family - 60'-69' Lot	194	73	37	83	$1,923.09	$1,848.09	$75.01	$1,182.44	$1,515.96	$1,049.38	$1,182.44	$1,515.96	$1,049.38	$0.00	
Single Family - 70'-79' Lot	218	58	24	100	$2,307.71	$2,217.70	$90.01	$1,665.38	$1,819.15	$1,257.33	$1,665.38	$1,819.15	$1,257.33	$0.00	
Single Family - 80'+ Lot	81	43	9	10	$2,557.72	$2,457.96	$99.76	$1,864.25	$2,069.32	$1,397.76	$1,864.25	$2,069.32	$1,397.76	$0.00	
Total	1518	633	343	476