Adopted Budget	
Fiscal Year 2019	

Ridgewood Trails Community	
Development District	

September 5, 2018	

Ridgewood Trails										
Community Development District									General Fund	
	Adopted		Actual		Projected Next		Total Projected		Adopted	
 Description		 	Budget FY2018		 thru 7/31/2018 		 	2 Months			 	thru 9/30/18			  Budget FY2019 	
Revenues										
Maintenance Assessments	$321,056		$321,249		$0		$321,249		$377,398	
Interest Earned/Misc.	$2,347		$3,113		$250		$3,363		$1,500	
Carryforward Surplus	$27,816		$0		$0		$0		$24,564	
Total Revenues	 		$351,219		 	$324,362		 	$250		 	$324,612		 	$403,462	

Expenditures										
Administrative										
Supervisor Fees	$12,000		$2,800		$1,000		$3,800		$12,000	
FICA Expense	$918		$214		$77		$291		$918	
Engineering	$5,000		$329		$4,671		$5,000		$5,000	
Assessment Roll	$5,260		$5,260		$0		$5,260		$5,260	
Arbitrage	$600		$0		$600		$600		$1,200	
Dissemination	$1,000		$833		$167		$1,000		$1,000	
(1) Attorney	$20,000		$4,581		$5,419		$10,000		$20,000	
Annual Audit	$4,100		$3,975		$0		$3,975		$4,100	
Trustee	$4,200		$4,106		$0		$4,106		$4,200	
Management Fees	$41,000		$34,167		$6,833		$41,000		$41,000	
Telephone	$100		$31		$69		$100		$100	
Postage	$550		$752		$200		$952		$800	
Printing & Binding	$1,000		$786		$300		$1,086		$1,000	
Insurance	$6,646		$6,144		$0		$6,023		$6,646	
Legal Advertising	$2,000		$1,560		$882		$2,442		$2,500	
Other Current Charges	$600		$480		$105		$585		$600	
Office Supplies	$250		$71		$179		$250		$250	
Dues, Licenses & Subscriptions	$175		$175		$0		$175		$175	
Capital Outlay	$250		$0		$250		$250		$250	
Meeting Room Rental	$600		$150		$150		$300		$600	
Records Storage	$250		$0		$250		$250		$250	
Administrative  Expenses	 		$106,498		 	$66,415		 	$21,151		 	$87,445		 	$107,848	
(1) Incorporates 4% annual increase to hourly rate since last rate adjustment.	
Amenity Center										
Insurance	$3,000		$3,350		$1,046		$4,396		$3,500	
General Facility Maintenance	$7,000		$7,099		$250		$7,349		$7,000	
Lifeguards	$15,000		$0		$15,000		$15,000		$15,000	
Pool Maintenance	$16,500		$7,867		$1,500		$9,367		$16,500	
Pool Chemicals	$6,500		$1,718		$1,782		$3,500		$6,500	
Other Current Charges	$1,000		$204		$796		$1,000		$1,000	
Water & Sewer	$7,000		$6,616		$384		$7,000		$7,000	
Electric	$8,000		$7,906		$94		$8,000		$8,000	
Internet/Cable	$1,600		$1,336		$264		$1,600		$1,600	
Janitorial	$6,100		$5,083		$1,017		$6,100		$6,100	
Janitorial Supplies	$1,500		$293		$57		$350		$1,500	
Security	$16,000		$12,605		$3,395		$16,000		$16,000	
Refuse Service	$3,000		$0		$0		$0		$3,000	
Special Events	$3,000		$8,481		$3,678		$12,160		$6,300	
Pool Permit	$300		$270		$125		$395		$300	
Maintenance Reserves	$12,000		$0		$12,000		$12,000		$5,307	
Contingencies	$15,000		$0		$0		$0		$0	
Capital Improvements	$0		$0		$0		$0		$30,000	
Amenity Center Expenses	 		$122,500		 	$62,829		 	$41,388		 	$104,217		 	$134,607	
			
Page 1							

Ridgewood Trails
Community Development District						General Fund	
Adopted	Actual		Projected Next		Total Projected		Adopted	
 Description		 Budget FY2018	 thru 7/31/2018 		 	2 Months			 	thru 9/30/18			  Budget FY2019 	

Grounds Maintenance										
Operations Management	$20,600		$17,167		$3,433		$20,600		$20,600	
Access Cards	$1,000		$0		$0		$0		$1,000	
Electric	$1,500		$778		$722		$1,500		$1,500	
Water	$2,000		$2,673		$535		$3,208		$2,500	
Repairs & Maintenance	$17,000		$15,444		$1,556		$17,000		$17,000	
Landscape Maintenance	$52,000		$43,208		$7,807		$51,015		$72,000	
Landscape Reserve	$10,000		$6,976		$3,647		$10,623		$10,000	
Lake Maintenance	$5,500		$3,700		$740		$4,440		$5,500	
Contingencies/Operating Reserve	$12,621		$0		$0		$0		$30,906	
Grounds Maintenance Expenses	 	$122,221		 	$89,946		 	$18,440		 	$108,386		 	$161,006	
Total Expenses	 	$351,219		 	$219,190		 	$80,979		 	$300,048		 	$403,461	
Total Other	 	$0		 	$0 		 	$0		 	$0 		 	$0	
EXCESS REVENUES /	 			 			 			 			 		
(EXPENDITURES)	 	$0		 	$105,172 		 	($80,729)		 	$24,564 		 	$0	
									Total Gross	
	Product Type		Units		ERU's		Gross Per Unit		Assessment	
	50'		297		211		$	494		$	146,718	
	60'		333		286		$	598		$	199,134	
	70'		76		76		$	696		$	52,896	
			706		573				$	398,748	

Gross Assessment	$	398,748	
Less: Discounts and Collections (6%)	$	23,925	
Net Assessments	$	374,823	

Page 2

Ridgewood Trails
Community Development District
GENERAL FUND BUDGET
Fiscal Year 2019

REVENUES:
Maintenance Assessments

The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay all of the operating expenses for the Fiscal Year in accordance with the adopted budget.

Interest Income
The District will have all excess funds invested with the State Board of Administration. The amount is based upon the estimated average balance of funds available during the fiscal year.
 	_____________________________

EXPENDITURES:

Administrative:

Supervisor Fees/FICA Expense

The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year. Plus associated payroll taxes.

Engineering

The District's engineering firm, England, Thims & Miller, Inc., will be providing general engineering services to the District, including attendance and preparation for monthly board meetings, review invoices, etc.

Assessment Roll

GMS, LLC serves as the District’s collection agent and certifies the District’s non-ad valorem assessments with the county tax collector.

Arbitrage

The District is required to have an annual arbitrage rebate calculation prepared for the District’s Series 2007A/B Special Assessment Bonds.

Dissemination

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.

Attorney

The District's legal counsel, Hopping Green & Sams, will be providing general legal services to the District, including attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent CPA Firm.

Ridgewood Trails
Community Development District
GENERAL FUND BUDGET
Fiscal Year 2019

Trustee

The District issued $11,255,000 Series 2007A/B Special Assessment Bonds are held by a Trustee with US Bank, N.A. The amount of the trustee fee is based on the agreement between US Bank and the District for the Series 2007A/B  bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC.

Telephone

This item includes the cost of a telephone and fax machine. Postage
This item includes 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 the Florida Times Union.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the year. Office Supplies
This item includes the cost of miscellaneous office supplies. Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Community Affairs for $175. This is the only expense under this category for the District.

Capital Outlay

Represents any minor capital expenditures the District may need to make during the Fiscal Year such as a file cabinet for District files.

Ridgewood Trails
Community Development District
GENERAL FUND BUDGET
Fiscal Year 2019

Meeting Room Rental

This item includes the cost to rent a boardroom for the Ridgewood Trails CDD monthly supervisor meetings. The rental fees are based on the quarterly meetings.

Record Storage

The District’s Records are stored off site. Amenity Center
Insurance

The District's Property Insurance policy is with Egis Insurance & Risk Advisors. Egis specializes in providing insurance coverage to governmental agencies.

Facility Maintenance

Cost of routine repairs and maintenance to the Amenity Center. Lifeguards
The District has contracted with Riverside Management Services, Inc. to provide lifeguard services during pool operation season.

Pool Maintenance

The District has contracted with Riverside Management Services, Inc. to provide pool maintenance services three (3) days a week. Services include vacuuming, skimming tiles, brushing tiles, pool and equipment inspections, cleaning of filters and any necessary emergency calls.

Pool Chemicals

Represents the estimated cost for chemicals utilized for swimming pool at the Amenity Center. Other Current Charges
Any unanticipated costs for the Amenity Center. Water and Sewer
This includes the cost of water and sewer for the Amenity Center.

Electric

The item includes the cost of electricity for the Amenity Center.

Ridgewood Trails
Community Development District
GENERAL FUND BUDGET
Fiscal Year 2019

Janitorial

The District has contracted with Riverside Management Services, Inc. to provide janitorial services for the Amenity Center. The services are 3 days per week and include sweeping and mopping floors if necessary, clean sinks, mirrors, fixtures, toilets and urinals, cleaning interior windows, baseboards, clean fitness equipment, remove trash and replace liners, clean pool deck.

Janitorial Supplies

All supplies needed for janitorial services of the Amenity Center. Refuse Service
This item includes the cost of garbage disposal for the District. Special Events
This item represents the estimated cost to host any special events for the community throughout the Fiscal Year. Maintenance Reserves
Represents any unanticipated cost associated with the operation and maintenance of the Districts Amenity Center and field operations.

Contingencies

Represents any expenses not included in the other categories. Capital Improvements
Funding for new recreation projects Grounds Maintenance:
Operations Management

The District is currently contracted with Riverside Management Services, Inc. to oversee the day to day operations of the Grounds in the CDD.

Electric

The District has an account with Clay Electric Corporative, Inc. for a corner light. Water
The District has an account with Clay County Utility Authority for irrigation. Repairs and Maintenance
Represents the costs associated with any miscellaneous maintenance of the District.

Ridgewood Trails
Community Development District
GENERAL FUND BUDGET
Fiscal Year 2019

Landscape Maintenance

The District has contracted with R&D Landscape to provide landscaping services to all the common areas within the District.

Landscape Maintenance Reserve

The District will build a Reserve for future sod replacement, irrigation and tree maintenance. Lake Maintenance
The District has contracted with Lake Doctor’s to provide monthly water management services to all the lakes throughout the District.

Operations Management

The District has contracted with Riverside Management Services, Inc. to manage the landscape maintenance, lake maintenance and common areas of the District.

Repairs and Maintenance

Represents cost related to repairs and maintenance of the common areas throughout the District including sprinklers, sprinkler valves, entrance lighting, debris removal, etc.

Security

Represents cost paid to off-duty law enforcement personnel to provide security patrols of District facilities. Access Cards
Represents the anticipated cost of access cards to the District’s Amenity Center. Electric
The item includes the cost of electricity for the common area at Ridgewood Trails. Water
This includes the cost of water for the common area at Ridgewood Trails. Operating Reserve
This item includes a contingency for any unanticipated and unscheduled cost to the District. Capital Outlay
This item represents any minor capital expenditures the District may need to make during the Fiscal Year.

Ridgewood Trails								Capital Reserve	
Community Development District	
		Adopted		Actual		Projected Next		Total Projected		Adopted	
 Description			  Budget FY2018 		  thru 7/31/2018 		 	2 Months			     thru 9/30/18			   Budget FY2019 	
Revenues											
Carry Forward Surplus		$150,990		$151,227		$0		$151,227		$147,627	
Interest Earned		$0		$2,239		$250		$2,489		$1,000	
Total Revenues		 	$150,990		 	$153,466		 	$250		 	$153,716		 	$148,627	

Expenditures											
Capital Reserve		$0		$6,089		$0		$6,089		$0	
Total Expenditures		 	$0		 	$6,089		 	$0		 	$6,089		 	$0	
EXCESS REVENUES/		 			 			 			 			 		
(EXPENDITURES)		 	$150,990		 	$147,377		 	$250 		 	$147,627		 	$148,627	

Ridgewood Trails					Debt Service Fund	
Community Development District								Series 2007A	
		Adopted		Actual		Projected Next		Total Projected		Adopted	
 Description			  Budget FY2018 		  thru 7/31/2018 		 	2 Months			     thru 9/30/18			    Budget FY2019 	
Revenues											
Assessments		$13,359		$13,378		$0		$13,378		$13,359	
Other Revenue Sources		$540		$0		$540		$540		$540	
Carry Forward Surplus		$4,520		$4,518		$0		$4,518		$4,502	
Interest Earned		$0		$149		$25		$174		$50	
Total Revenues		 	$18,419		 	$18,045		 	$565		 	$18,610		 	$18,451	

Expenditures											
Interest 11/1		$4,520		$4,520		$0		$4,520		$4,379	
Principal 5/1		$5,000		$5,000		$0		$5,000		$5,000	
Interest 5/1		$4,520		$4,520		$0		$4,520		$4,379	
Total Expenditures		 	$14,040		 	$14,040		 	$0		 	$14,040		 	$13,758	

Other Sources/(Uses)											
Interfund Transfer In/(Out)		$0		($68)		$0		($68)		$0	
Total Other		 	$0		 	($68)		 	$0		 	($68)		 	$0	
EXCESS REVENUES/		 			 			 			 			 		
(EXPENDITURES)		 	$4,379		 	$3,937		 	$565 		 	$4,502		 	$4,694	
								
11/1/19 Interest		
$4,238	

Ridgewood Trails					Amortization Schedule	
Community Development District		Series 2007A, Capital Improvement Revenue Bonds	
 	DATE			 	BALANCE		    RATE 		 	PRINCIPAL		 	INTEREST			 	TOTAL		
05/01/15		$	175,000	5.65%		$	5,000.00		$	4,943.75			
11/01/15		$	170,000	5.65%		$	-		$	4,802.50		$	14,746.25	
05/01/16		$	170,000	5.65%		$	5,000.00		$	4,802.50			
11/01/16		$	165,000	5.65%		$	-		$	4,661.25		$	14,463.75	
05/01/17		$	165,000	5.65%		$	5,000.00		$	4,661.25			
11/01/17		$	160,000	5.65%		$	-		$	4,520.00		$	14,181.25	
05/01/18		$	160,000	5.65%		$	5,000.00		$	4,520.00			
11/01/18		$	155,000	5.65%		$	-		$	4,378.75		$	13,898.75	
05/01/19		$	155,000	5.65%		$	5,000.00		$	4,378.75			
11/01/19		$	150,000	5.65%		$	-		$	4,237.50		$	13,616.25	
05/01/20		$	150,000	5.65%		$	5,000.00		$	4,237.50			
11/01/20		$	145,000	5.65%		$	-		$	4,096.25		$	13,333.75	
05/01/21		$	145,000	5.65%		$	5,000.00		$	4,096.25			
11/01/21		$	140,000	5.65%		$	-		$	3,955.00		$	13,051.25	
05/01/22		$	140,000	5.65%		$	5,000.00		$	3,955.00			
11/01/22		$	135,000	5.65%		$	-		$	3,813.75		$	12,768.75	
05/01/23		$	135,000	5.65%		$	5,000.00		$	3,813.75			
11/01/23		$	130,000	5.65%		$	-		$	3,672.50		$	12,486.25	
05/01/24		$	130,000	5.65%		$	5,000.00		$	3,672.50			
11/01/24		$	125,000	5.65%		$	-		$	3,531.25		$	12,203.75	
05/01/25		$	125,000	5.65%		$	5,000.00		$	3,531.25			
11/01/25		$	120,000	5.65%		$	-		$	3,390.00		$	11,921.25	
05/01/26		$	120,000	5.65%		$	5,000.00		$	3,390.00			
11/01/26		$	115,000	5.65%		$	-		$	3,248.75		$	11,638.75	
05/01/27		$	115,000	5.65%		$	5,000.00		$	3,248.75			
11/01/27		$	110,000	5.65%		$	-	#	$	3,107.50		$	54,340.25	
05/01/28		$	110,000	5.65%		$	5,000.00		$	3,107.50			
11/01/28		$	105,000	5.65%		$	-		$	2,966.25		$	11,073.75	
05/01/29		$	105,000	5.65%		$	10,000.00		$	2,966.25			
11/01/29		$	95,000	5.65%		$	-		$	2,683.75		$	15,650.00	
05/01/30		$	95,000	5.65%		$	10,000.00		$	2,683.75			
11/01/30		$	85,000	5.65%		$	-		$	2,401.25		$	15,085.00	
05/01/31		$	85,000	5.65%		$	10,000.00		$	2,401.25			
11/01/31		$	75,000	5.65%		$	-		$	2,118.75		$	14,520.00	
05/01/32		$	75,000	5.65%		$	10,000.00		$	2,118.75			
11/01/32		$	65,000	5.65%		$	-		$	1,836.25		$	13,955.00	
05/01/33		$	65,000	5.65%		$	10,000.00		$	1,836.25			
11/01/33		$	55,000	5.65%		$	-		$	1,553.75		$	13,390.00	
05/01/34		$	55,000	5.65%		$	10,000.00		$	1,553.75			
11/01/34		$	45,000	5.65%		$	-		$	1,271.25		$	12,825.00	
05/01/35		$	45,000	5.65%		$	10,000.00		$	1,271.25			
11/01/35		$	35,000	5.65%		$	-		$	988.75		$	12,260.00	
05/01/36		$	35,000	5.65%		$	10,000.00		$	988.75			
11/01/36		$	25,000	5.65%		$	-		$	706.25		$	11,695.00	
05/01/37		$	25,000	5.65%		$	10,000.00		$	706.25			
11/01/37		$	15,000	5.65%		$	-		$	423.75		$	11,130.00	
05/01/38		$	15,000	5.65%		$	15,000.00		$	423.75			
									$	15,423.75	
 	Total						  $		175,000.00 		  $		141,673.75 		  $		359,657.75 	

Page 10