Ridgewood Trails
Community Development District

Adopted Budget
FY 2025
July 10, 2024

Table of Contents

1-2

3-6

7-8

9

	General Fund

	Narratives

	Debt Service Fund Series 2007

	Capital Reserve Fund

10		Assessment Schedule

REVENUES:		
Special Assessments - On Roll	$612,477	$611,911	$577	$612,488	$612,477	
Interest/Miscellaneous Income	2,200	13,452	7,700	21,152	12,000	
Rental Revenue	2,000	2,000	1,675	3,675	3,675	
Carry Forward Surplus	-	-	-	-	1,420	
TOTAL REVENUES	$616,677	$627,363	$9,952	$637,315	$629,572	

EXPENDITURES:						
Administrative:						
Supervisor Fees	$8,000	$3,600	$2,000	$5,600	$8,000	
FICA Taxes	612	275	153	428	612	
Engineer	3,000	-	200	200	3,200	
Attorney	20,000	8,159	7,085	15,244	20,000	
Annual Audit	3,270	-	3,270	3,270	3,270	
Assessment Administration	5,576	5,576	-	5,576	5,576	
Arbitrage Rebate	600	-	600	600	600	
Dissemination Agent	1,060	707	353	1,060	1,124	
Trustee Fees	5,650	4,517	-	4,517	4,600	
District Management Fees	48,416	32,277	16,138	48,416	51,320	
Information Technology	1,908	1,272	636	1,908	1,908	
Website Maintenance	1,272	848	424	1,272	1,272	
Telephone	350	132	218	350	350	
Postage & Delivery	800	301	499	800	800	
General Liability and Public Officials Insurance	8,094	7,726	-	7,726	8,498	
Printing & Binding	1,500	368	1,132	1,500	1,500	
Legal Advertising	1,800	238	700	938	1,800	
Other Current Charges	907	8	100	108	907	
Office Supplies	100	4	96	100	100	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$113,089	$66,185	$33,604	$99,788	$115,612	

Operations & Maintenance		
Amenity Center		
Property Insurance	$29,198	$15,070	$-	$15,070	$17,029	
Amenity Manager	67,416	44,944	22,472	67,416	42,876	
Facility Assistant	5,000	3,192	1,808	5,000	7,500	
General Facility Maintenance	12,190	7,390	4,800	12,190	12,190	
Repair and Replacements	25,000	22,250	8,000	30,250	30,000	
Lifeguards	18,385	3,561	14,824	18,385	19,488	
Pool Maintenance	17,876	11,917	5,959	17,876	18,950	
Pool Chemicals	17,798	10,386	7,490	17,876	17,798	
Water & Sewer	15,525	5,656	6,244	11,900	13,000	
Electric	16,100	6,952	6,116	13,068	16,100	
Internet/Cable	6,451	4,364	2,256	6,620	6,840	
Janitorial	11,218	7,479	3,739	11,218	11,891	
Janitorial Supplies	2,500	1,195	1,305	2,500	2,500	
Security System	8,797	6,435	2,232	8,667	8,467	
Refuse Service	2,709	1,964	1,004	2,968	3,012	
Special Events	5,000	1,878	3,122	5,000	5,000	
Pool Permit	475	-	475	475	475	
Pest Control	1,000	720	360	1,080	1,200	
Access Cards	1,000	-	1,000	1,000	1,000	
Total Amenity Center	$263,639	$155,353	$93,206	$248,559	$235,316	

Grounds Maintenance						
Operations Management	$24,325	$16,217	$8,108	$24,325	$25,785	
Electric	5,000	1,494	900	2,394	3,000	
Water	8,300	4,322	3,900	8,222	8,300	
Repairs & Maintenance	18,200	7,502	10,698	18,200	18,200	
Landscape Maintenance	128,444	89,378	42,815	132,193	143,582	
Lake Maintenance	12,000	5,536	2,768	8,304	8,802	
Irrigation Repairs	5,000	299	4,701	5,000	5,000	
Total Grounds Maintenance	$201,269	$124,748	$73,890	$198,638	$212,669	

Other Sources and (Uses)						
Capital Reserve Transfer Out	$	38,680	$-	$38,680	$38,680	$	65,976	
Total Other Sources and (Uses)	$38,680	$-	$38,680	$38,680	$65,976	

TOTAL EXPENDITURES	$616,677	$346,286	$239,379	$585,665	$629,572	
						
EXCESS REVENUES (EXPENDITURES)	$-	$281,077	$(229,428)	$51,650	$0	

REVENUES

Special Assessments-Tax Roll
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.

Interest/Miscellaneous Income
The District earns interest on the monthly average collected balance for each of their investment accounts.
Rentals Revenues
Income received from residents for rental of clubroom or patio.

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. The budgeted amount for the fiscal year is based on all supervisors attending 6 meetings with additional meetings if needed.
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 Engineering Fees
The District's engineer, Alliant Engineering, Inc., will provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review of invoices, and other specifically requested assignments.
Attorney
The District’s Attorney, Kutak Rock LLP, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.
Annual Audit
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees.
Assessment Roll Administration
GMS, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
Arbitrage Rebate
The District is required to have an annual arbitrage rebate calculation prepared for the District’s Series 2007A/B Special Assessment Bonds.
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.
Trustee Fees
The District bonds will be held and administered by a Trustee. This represents the trustee annual fee.
District 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.
Information Technology
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by GMS, LLC.
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.
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.

Expenditures - Administrative (continued)

General Liability and Public Officials Insurance
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 similar Community Development Districts.
Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.
Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.
Bank Fees and Other 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 – Amenity Center

Property 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	Annual	
RMS	Pool Maintenance	$1,579	$18,950	
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	Annual
Hawkins	Pool Chemicals	$1,244	$14,928
RMS	Pool Chemicals		$104	$1,248 Contingency			$135	$1,622 
Total	$1,483	$17,798

Water and Sewer
This includes the cost of water and sewer for the Amenity Center provided by Clay County Utility Authority.
Account#	Address	Monthly	Annual	
00564735	1667 Azalea Ridge Blvd Amenity Center	$550	$6,600	
00517174	1667 Azalea Ridge Blvd Amenity Center	$140	$1,680	
00517175	1667 Azalea Ridge Blvd Irrigation	$100	$1,200	
00517176	1667 Azalea Ridge Blvd Recl Irrigation	$50	$600	
	Contingency	$243	$2,920	
	Total	$1,083	$13,000	
Electric
The item includes the cost of electricity for the Amenity Center Clay Electric Cooperative Inc.
Account#	Address	Monthly	Annual	
8874493	1667 Azalea Ridge Blvd	$1,200	$14,400	
	Contingency	$142	$1,700	
	Total	$1,342	$16,100	
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	Annual	
RMS	Janitorial	$991	$11,891	
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	Annual	
Newlane Finance	Security Cammeras	$395	$4,741	
Vector Sucurity	Cameras	$143	$1,715	
Hi-Tech System	Access Control+Cloud	$20	$240	
Hi-Tech System	Cloud Access	$0	$1,620	
FUSUS	Real Time Crime Ctr		$0	$150 
Total	$558	$8,467
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.
Access Cards
Represents the anticipated cost of access cards to the District’s Amenity Center.
Capital Reserve
Funding for new recreation projects.

Budget Narrative
Fiscal Year 2025

Expenditures - Ground 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 item includes the cost of electricity for the common area at Ridgewood Trails provided by Clay Electric Cooperative Inc.
Account#	Address	Monthly	Annual	
9065441	1799 Azalea Ridge Blvd Ne Corner Sign	$43	$516	
9011950	4214 Warm Springs Way Sign Lights Irrig	$42	$504	
9047502	4226 Warm Springs Way Entrance Sign	$41	$492	
9047503	1595 Azalea Ridge Blvd Pond Fountain	$35	$420	
	Contingency	$89	$1,068	
	Total	$250	$3,000	
Water
This includes the cost of water for the common area at Ridgewood Trails provided by Clay County Utility Authority.
Account#	Address	Monthly	Annual	
00569294	1799-2 Azalea Ridge Blvd Irrigation	$275	$3,300	
00560605	4214 Warm Springs Way	$48	$576	
00579216	4458 Warm Springs Way	$48	$576	
00579217	4355 Warm Springs Way	$48	$576	
00579219	4268 Warm Springs Way	$55	$656	
00567767	4164 Fishing Creek Lane Reclaimed	$30	$360	
00567766	4166 Green River Place Reclaimed	$30	$360	
00567764	1610 Azalea Ridge Blvd Reclaimed	$30	$360	
00567762	1601 Azalea Ridge Road reclaimed	$30	$360	
00567760	3891 Bronco Road Reclaimed	$30	$360	
00567759	4217 Packer Meadow Way Reclaimed	$30	$360	
	Contingency	$38	$456	
	Total	$692	$8,300	
Repairs and Maintenance
Represents the costs associated with any miscellaneous field maintenance of the District.
Landscape Maintenance
The District’s cost to provide landscaping services to all the common areas within the community. Contingency amount for cost such as sod replacement and tree maintenance.
Vendor	Description	Monthly	Annual	
Brightview	Landscape service	$11,132	$133,582	
Brightview	Contingency	$833	$10,000	
	Total	$11,965	$143,582	
Lake Maintenance
The District’s cost to provide monthly water management services to all the lakes throughout the community.
Vendor	Description	Monthly	Annual

Irrigation Repairs

The Lake Doctor Inc Contingency

$692	$8,304
	$42	$498 
Total	$734	$8,802

The estimated cost to make repairs to the community’s irrigation system when damaged.

Adopted Budget
Debt Service Series 2007 Capital Improvement Revenue Bonds

Description

Adopted Budget
FY2024

Actuals Thru	Projected Next  Projected Thru

5/31/24

	4 Months	

9/30/24

Adopted Budget
FY 2025

REVENUES:

Special Assessments-On Roll	$13,359	$13,346	$13	$13,359	$13,359	
Interest Earnings	250	660	268	928	500	
Carry Forward Surplus (1)	5,052	$4,529	-	4,529	6,471	
TOTAL REVENUES	$18,661	$18,535	$281	$18,816	$20,329	

EXPENDITURES:

Interest 11/1	$3,673	

$3,673	

$-	

$3,673	

$3,531	
Interest 5/1	3,673	3,673	-	3,673	3,531	
Principal 5/1	5,000	5,000	-	5,000	5,000	

TOTAL EXPENDITURES

$12,345

$12,345

$-

$12,345

$12,063

Other Sources/(Uses)

Interfund transfer In/(Out)	$-	$-	$-	$-	$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	
						
TOTAL EXPENDITURES	$12,345	$12,345	$-	$12,345	$12,063	
						
EXCESS REVENUES (EXPENDITURES)	$6,316	$6,190	$281	$6,471	$8,267	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25

$3,390

AMORTIZATION SCHEDULE
Debt Service Series 2007 Capital Improvement Revenue Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/24	125,000	5.650%	-	3,531	3,531.25	
05/01/25	125,000	5.650%	5,000	3,531		
11/01/25	120,000	5.650%	-	3,390	11,921.25	
05/01/26	120,000	5.650%	5,000	3,390		
11/01/26	115,000	5.650%	-	3,249	11,638.75	
05/01/27	115,000	5.650%	5,000	3,249		
11/01/27	110,000	5.650%	-	3,108	11,356.25	
05/01/28	110,000	5.650%	5,000	3,108		
11/01/28	105,000	5.650%	-	2,966	11,073.75	
05/01/29	105,000	5.650%	10,000	2,966		
11/01/29	95,000	5.650%	-	2,684	15,650.00	
05/01/30	95,000	5.650%	10,000	2,684		
11/01/30	85,000	5.650%	-	2,401	15,085.00	
05/01/31	85,000	5.650%	10,000	2,401		
11/01/31	75,000	5.650%	-	2,119	14,520.00	
05/01/32	75,000	5.650%	10,000	2,119		
11/01/32	65,000	5.650%	-	1,836	13,955.00	
05/01/33	65,000	5.650%	10,000	1,836		
11/01/33	55,000	5.650%	-	1,554	13,390.00	
05/01/34	55,000	5.650%	10,000	1,554		
11/01/34	45,000	5.650%	-	1,271	12,825.00	
05/01/35	45,000	5.650%	10,000	1,271		
11/01/35	35,000	5.650%	-	989	12,260.00	
05/01/36	35,000	5.650%	10,000	989		
11/01/36	25,000	5.650%		706	11,695.00	
05/01/37	25,000	5.650%	10,000	706		
11/01/37	15,000	5.650%	-	424	11,130.00	
05/01/38	15,000	5.650%	15,000	424	15,423.75	
Total			$125,000	$60,455	$185,455	

Adopted Budget Capital Reserve Fund

	Adopted Budget	Actuals Thru	Projected Next Projected Thru	Adopted Budget	
Description	FY2024	5/31/24		4 Months		9/30/24	FY 2025	

REVENUES:						
Interest Income	$1,300	2,403	$1,000	3,403	2,000	
Carry Forward Balance	180,691	208,521	-	208,521	208,426	
TOTAL REVENUES	$181,991	$210,924	$1,000	$211,924	$210,426	

EXPENDITURES:						
Capital Outlay	$60,000	$-	$-	$-	$60,000	
Other Current Charges	600	-	600	600	600	
Repair & Maintenance	10,000	3,275	8,405	11,680	-	
Pool Fence Project	-	29,898	-	29,898	-	
TOTAL EXPENDITURES	$70,600	$33,173	$9,005	$42,178	$60,600	

Other Sources/(Uses)						
Transfer in/(Out)	$38,680	$38,680	$-	$38,680	$65,976	
TOTAL OTHER SOURCES/(USES)	$38,680	$38,680	$-	$38,680	$65,976	
						
EXCESS REVENUES (EXPENDITURES)	$150,071	$216,431	$(8,005)	$208,426	$215,802	

Ridgewood Trails
Community Development District
Non-Ad Valorem Assessments Comparison 2024-2025

Neighborhood	O&M Units	Bonds 2007
Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	

50	

470	

9	

$883.26	

$883.26	

$0.00	

$761.14	

$761.14	

$0.00	

$1,644.40	

$1,644.40	

$0.00	
60	221	8	$1,069.86	$1,069.86	$0.00	$920.15	$920.15	$0.00	$1,990.01	$1,990.01	$0.00	
Total	691	17