Adopted Budget
Fiscal Year 2023

Ridgewood Trails Community Development District

July 6, 2022

Ridgewood Trails
Community Development District

TABLE OF CONTENTS

General Fund
Budget	Page 1-2
Narrative	Page 3 - 9
Debt Service Fund
Budget - Series 2007A	Page 10
Amortization Schedule - 2007A	Page 11 Capital Reserves
Budget	Page 12

Ridgewood Trails
Community Development District									
General Fund	
	Adopted		Actual		Projected Next		Total Projected		Adopted	
 Description		 Budget FY2022 		 thru 5/31/2022 			4 Months				thru 9/30/22			 Budget FY2023 	
Revenues										
Assessments	$419,989		$417,259		$2,731		$419,989		$554,270	
Interest Earned/Misc.	$200		$139		$80		$219		$200	
Rental Revenue	$500		$1,525		$800		$2,325		$500	
Carryforward	$112,287		$0		$104,405		$104,405		$0	
Total Revenues		$532,976 			$418,923 			$108,016 			$526,938 			$554,970 	

Expenditures										
Administrative										
Supervisor Fees	$12,000		$3,400		$2,000		$5,400		$8,000	
FICA Expense	$918		$260		$153		$413		$612	
Engineering	$5,000		$225		$1,775		$2,000		$3,000	
Assessment Roll	$5,260		$5,260		$0		$5,260		$5,260	
Arbitrage	$600		$0		$600		$600		$600	
Dissemination	$1,000		$667		$333		$1,000		$1,000	
(1) Attorney	$12,000		$3,094		$5,906		$9,000		$12,000	
Annual Audit	$3,400		$0		$3,190		$3,190		$3,190	
Trustee	$5,650		$3,469		$0		$3,469		$5,650	
Management Fees	$43,500		$29,000		$14,500		$43,500		$45,675	
Information Technology	$1,800		$1,200		$600		$1,800		$1,800	
Website Maintenance	$1,200		$800		$400		$1,200		$1,200	
Telephone	$350		$132		$100		$232		$350	
Postage	$800		$143		$422		$565		$800	
Printing & Binding	$1,500		$314		$700		$1,014		$1,500	
Insurance	$6,928		$6,844		$0		$6,844		$8,212	
Legal Advertising	$2,020		$167		$933		$1,100		$1,800	
Other Current Charges	$1,800		$428		$280		$708		$1,000	
Office Supplies	$250		$11		$50		$61		$250	
Dues, Licenses & Subscriptions	$175		$175		$0		$175		$175	
Meeting Room Rental	$600		$0		$0		$0		$0	
Administrative Expenses		$106,751 			$55,590 			$31,942 			$87,531 			$102,074 	

(1) Incorporates 4% annual increase to hourly rate since last rate adjustment.
Amenity Center

Insurance	$17,025	$16,254	$0	$16,254	$19,505	
Amenity Manager	$60,000	$40,000	$20,000	$60,000	$63,600	
Facility Assistant	$0	$0	$0	$0	$5,000	
General Facility Maintenance	$10,000	$6,854	$4,002	$10,856	$11,500	
Repair and Replacements	$8,000	$8,350	$5,846	$14,196	$15,000	
Lifeguards	$16,172	$2,120	$14,052	$16,172	$17,344	
Pool Maintenance	$15,910	$10,607	$5,303	$15,910	$16,865	
Pool Chemicals	$12,640	$6,046	$3,110	$9,157	$12,640	
Other Current Charges	$1,000	$228	$772	$1,000	$1,000	
Water & Sewer	$13,500	$6,303	$4,147	$10,450	$13,500	
Electric	$13,800	$8,413	$4,988	$13,401	$14,000	
Internet/Cable	$4,600	$3,522	$1,840	$5,362	$5,600	
Janitorial	$9,984	$6,656	$3,328	$9,984	$10,583	
Janitorial Supplies	$1,600	$1,445	$897	$2,342	$2,500	
Security	$19,000	$11,308	$6,618	$17,926	$0	
Secuirty System	$0	$5,474	$2,120	$7,594	$8,700	
Refuse Service	$3,000	$1,624	$784	$2,408	$2,500	
Special Events	$6,300	$10,558	$0	$10,558	$10,000	
Pool Permit	$382	$125	$256	$381	$382	
Pest Control	$1,000	$405	$542	$947	$1,000	
Capital Reserve Transfer		$35,000 		$0 		$35,000 		$35,000 		$35,525 	
Amenity Center Expenses		$248,913 		$146,293 		$113,605 		$259,898 		$266,743 	

Ridgewood Trails		
Community Development District									General Fund	
	Adopted		Actual		Projected Next		Total Projected		Adopted	
 Description		 Budget FY2022 		 thru 5/31/2022 			4 Months				thru 9/30/22			Budget FY2023	

Grounds Maintenance										
Operations Management	$22,948		$15,299		$7,649		$22,948		$22,948	
Access Cards	$1,000		$0		$1,000		$1,000		$1,000	
Electric	$8,000		$5,625		$3,200		$8,825		$9,000	
Water	$8,300		$4,222		$2,600		$6,822		$8,300	
Repairs & Maintenance	$17,000		$12,789		$5,411		$18,200		$18,200	
Landscape Maintenance	$102,000		$67,118		$33,559		$100,677		$104,704	
Landscape Contingency	$10,000		$9,451		$549		$10,000		$10,000	
Lake Maintenance	$8,064		$7,212		$3,826		$11,037		$12,000	
Grounds Maintenance Expenses		$177,312 			$121,716 			$57,794 			$179,509 		$186,152	
										
Total Expenses		$532,976 			$323,598 			$203,340 			$526,938 		$554,970	
										
Total Other		$0 			$0 			$0 			$0 		$0	
EXCESS REVENUES /	 			 			 			 				
(EXPENDITURES)		$0 			$95,325 			-$95,325 			$0 		$0	

$ Increase % Increase	
Product Type		
Units		
ERU's		
Gross Per Unit		Total Gross Assessment	
$193.67	32%	50'		470		333.7		$	799.32		$	375,679.20	
$234.58	32%	60'		221		190.06		$	968.19		$	213,969.40	
			691		523.76				$	589,648.60	

Gross Assessment	$	589,649	
Less: Discounts and Collections (6%)	$	35,379	
Net Assessments	$554,270	

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/Miscellaneous 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. This line includes miscellaneous deposits for the district.
Rental Revenue
Income received from residents for rental of clubroom or patio.

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 contracted with Governmental Management Services, LLC.
Attorney

The District's legal counsel, Kutak Rock LLP, 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. 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.
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. contracted with Governmental Management Services, LLC.
Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc. contracted 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, amortization schedule fees, and any other miscellaneous expenses.

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.

Amenity Center
Insurance

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

The District has contracted with Riverside Management Services to staff the amenity center and manage the day to day operations in accordance with their contract.
Facility Assistant

The District has contracted with Riverside Management Services to provide part-time staffing to supplement Amenity Manager.
General Facility Maintenance
Cost of routine repairs and maintenance to the Amenity Center. Repair and Replacements
Represents any unanticipated cost associated with the operation and maintenance of the Districts Amenity Center such as replacing or repairing broken or worn out things around the facility such as broken gates, doors, holes in wall, painting etc.
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.

Vendor	Description	Monthly	Annually	
RMS	Pool Maintenance	$	1,405	$	16,865	
Total		$	1,405	$	16,865	

Pool Chemicals

Represents the estimated cost for chemicals utilized for the swimming pool at the Amenity Center for services provided by RMS. Also covers the cost for chemicals for the new pool for services provided by Poolsure.

	Vendor	Description	Monthly	Annually	
	Poolsure	Pool Chemicals	$	720	$	8,640	
	RMS	Pool Chemicals	$	333	$	4,000	
	Total		$	1,053	$	12,640	
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 provided by Clay County Utility Authority.

Account #	Address	Monthly	Annually	
00564735	1667 AZALEA RIDGE BLVD AMENITY CENTER	$	500	$	6,000	
00517174	1667 AZALEA RIDGE BLVD AMENITY CENTER	$	96	$	1,152	
00517175	1667 AZALEA RIDGE BLVD IRRIGATION	$	130	$	1,560	
00517176	1667 AZALEA RIDGE BLVD RECLAIMED IRRIGATION	$	350	$	4,200	
	Contingency	$	49	$	588	
	Total Amenity Water	$	1,125	$	13,500	
Electric				
The item includes the cost of electricity for the Amenity Center Clay Electric Cooperative Inc.	
Account #	Address	Monthly	Annually		
8874493	1667 AZALEA RIDGE BLVD	$	1,090	$	13,080		
Contingency	$	77	$	920		
Total Amenity Electric	$	1,167	$	14,000		
Internet/Cable

The District has accounts with Comcast to provide cable television services for the Amenity Center. 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.

Vendor	Description	Monthly	Annually	
RMS	Janitorial	$	882	$	10,583	
Total		$	882	$	10,583	

Janitorial Supplies
All supplies needed for janitorial services of the Amenity Center. Security System
Cost of services for security camera, access control system, and financing for security cameras.

	Vendor	Description	Monthly	Annually	
	Newlane Finance	Secuirty Cameras	$	395	$	4,740	
	Vector Security	Cameras	$	135	$	1,620	
	Vector Security	Access Control	$	195	$	2,340	
	Total		$	725	$	8,700	
Refuse Services					
This item includes the cost of garbage disposal for the District. Contracted with Waste Pro. Special Events
This item represents the estimated cost to host any special events for the community throughout the Fiscal Year. Pool Permit
Represents Permit Fees paid to the Florida Department of Health for the swimming pool permits. Pest Control
Annual service for pool bathrooms and fitness room. Services provided by Florida Pest Control. Capital Reserve
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.
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 provided by Clay Electric Cooperative Inc.

Account #	Address	Monthly	Annually	
9065441	1799 AZALEA RIDGE BLVD NE CORNER SIGN	$	35	$	420	
9011950	4214 WARM SPRINGS WAY SIGN LIGHTS IRRIG	$	38	$	458	
9047502	4226 WARM SPRINGS WAY ENTRANCE SIGN	$	36	$	432	
9047503	1595 AZALEA RIDGE BLVD POND FOUNTAIN	$	400	$	4,800	
	1560 AZALEA RIDGE BLVD POND FOUNTAIN	$	205	$	2,460	
	Contingency	$	36	$	430	
	Total Common Area Electric	$	750	$	9,000	
Water				

This includes the cost of water for the common area at Ridgewood Trails provided by Clay County Utility Authority.

Account #	Address	Monthly	Annually	
00569294	1799-2 AZALEA RIDGE BLVD IRRIGATION	$	60	$	720	
00560605	4214 WARM SPRINGS WAY	$	61	$	734	
00579216	4458 WARM SPRINGS WAY	$	56	$	668	
00579217	4355 WARM SPRINGS WAY	$	46	$	549	
00579219	4268 WARM SPRINGS WAY	$	78	$	936	
00567767	4164 FISHING CREEK LANE RECLAIMED	$	30	$	360	
00567766	4166 GREEN RIVER PLACE RECLAIMED	$	30	$	360	
00567764	1610 AZALEA RIDGE BLVD RECLAIMED	$	26	$	312	
00567762	1601 AZALEA RIDGE ROAD RECLAIMED	$	26	$	312	
00567760	3891 BRONCO ROAD RECLAIMED	$	35	$	420	
00567759	4217 PACKER MEADOW WAY RECLAIMED	$	28	$	336	
	Contingency	$	216	$	2,593	
	Total Reclaim Water	$	692	$	8,300	

Repairs and Maintenance
Represents the costs associated with any miscellaneous field maintenance of the District. Landscape Maintenance
The District cost to provide landscaping services to all the common areas within the District.

Vendor	Monthly	Annually	
Tree Amigos Outdoor Service	$	6,187	$	74,244	
Addt'l Contract Azalea Ridge II	$	2,538	$	30,461	
	$	-		
Total	$	8,725	$  104,704	
Landscape Contingency
Other landscaping maintenance cost such as sod replacement, irrigation and tree maintenance.

Lake Maintenance
The District cost to provide monthly water management services to all the lakes throughout the District.

Vendor	Monthly	Annually	
The Lake Doctors Inc	$	762	$	9,144	
Contingency	$	238	$	2,856	
Total	$	1,000	$	12,000	

Net Assessments
Add: Discounts and Collections (6%) Gross Assessments
Assessable Units	$13,359
	$852 
$14,211	
	17	

Ridgewood Trails	Debt Service Fund
Community Development District	Series 2007A

 Description		Adopted
  Budget FY2022 		
Actual
 thru 5/31/2022 	Projected Next
	4 Months			Total Projected
	thru 9/30/22			Adopted
  Budget FY2023 	
Revenues									
Assessments	$13,359		$13,272	$87		$13,359		$13,359	
Interest Earned	$0		$1	$1		$1		$0	
Carry Forward	$4,378		$4,406	$0		$4,406		$4,856	
Total Revenues		$17,737 		
	$17,679 		$87 			$17,766 			$18,215 	

Expenditures									
Interest 11/1	$3,955		$3,955	$0		$3,955		$3,814	
Interest 5/1	$3,955		$3,955	$0		$3,955		$3,814	
Principal 5/1	$5,000		$5,000	$0		$5,000		$5,000	
Total Expenditures		$12,910 		
	$12,910 		$0 			$12,910 			$12,628 	

Other Sources/(Uses)									
Interfund Transfer In/(Out)	$0		$0	$0		$0		$0	
Total Other		$0 		
	$0 		$0 			$0 			$0 	
EXCESS REVENUES/	 			 		 			 			 		
(EXPENDITURES)		$4,827 			$4,769 		$87 			$4,856 			$5,588 	
						11/1/23 Interest		$3,673	
Product Type	Gross Per Unit	Units							
50	$761	9	$6,850						
60	$920	8	$7,361						

17 	$14,211 					

Ridgewood Trails	Amortization Schedule
Community Development District	Series 2007A, Capital Improvement Revenue Bonds

	DATE			BALANCE		 RATE 		PRINCIPAL	 	INTEREST	 	TOTAL	

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	$	11,356.25	
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	

 $	135,000.00 

 $	75,427.50 

 $	219,382.50 

Ridgewood Trails	Capital Reserve
Community Development District

Adopted	Actual	Projected Next	Total Projected	Adopted
 Description	

Revenues	  Budget FY2022 		  thru 5/31/2022 			4 Months				thru 9/30/22			 Budget FY2023 	
Capital Reserve -Transfer In	$35,000		$0		$35,000		$35,000		$35,525	
Interest Earned	$250		$235		$360		$595		$250	
Carry Forward	$173,329		$180,441		$0		$180,441		$180,647	
Total Revenues		$208,579 			$180,676 			$35,360 			$216,036 			$216,422 	

Expenditures										
Capital Outlay	$20,000		$0		$0		$0		$60,000	
Amenity Improvement Project**	$50,000		$28,376		$0		$28,376		$4,500	
Other Current Charges	$650		$257		$293		$550		$600	
Repair & Maintenance	$0		$6,463		$0		$6,463		$10,000	
Total Expenditures		$70,650 			$35,096 			$293 			$35,390 			$75,100 	
EXCESS REVENUES/	 			 			 			 			 		
(EXPENDITURES)		$137,929 			$145,580 			$35,067 			$180,647 			$141,322 	
**Playground Installation