Rivers Edge III

Community Development District

Adopted Budget
FY2026

Presented by:

Table of Contents

1-2

3-7

8-9

10-11

12-13

14

	General Fund

	Narratives

	Debt Service Fund Series 2021

	Debt Service Fund Series 2024

	Debt Service Fund Series 2025

	Capital Reserve Fund

15		Assessment Schedule

REVENUES:		
Special Assessments - Tax Roll	$	918,137	$	922,490	$	-	$	922,490	$	1,101,765	
Administrative Assessments on Unplatted Land	76,160	76,160	-	76,160	74,495	
Developer Contributions	845,241	1,602,106	265,997	1,868,103	1,666,333	
Cost Share Landscaping Rivers Edge II	-	-	-	-	186,679	
Special Events	-	-	-	-	1,000	
Interest Revenue	-	-	-	-	2,000	
Miscellaneous Income	2,000	4,237	763	5,000	500	
TOTAL REVENUES	$ 1,841,538	$ 2,604,994	$	266,760	$ 2,871,753	$ 3,032,773	

EXPENDITURES:						
Administrative						
District Engineer	$	5,000	$	11,449	$	3,551	$	15,000	$	15,000	
District Counsel	25,000	25,308	1,500	26,808	30,000	
District Management	31,461	23,596	7,865	31,461	33,034	
Assessment Roll Administration	5,618	5,618	-	5,618	5,899	
Dissemination Agent	3,933	3,300	633	3,933	4,129	
Information Technology	1,348	944	405	1,348	1,416	
Website Administration	2,022	1,415	607	2,022	2,124	
Website Maintenance	848	1,369	400	1,769	800	
Annual Audit	5,200	6,700	-	6,700	6,800	
Trustee Fees	6,000	5,324	676	6,000	6,600	
Arbitrage Rebate	600	-	600	600	600	
Telephone	150	8	142	150	150	
Postage & Delivery	250	524	150	674	500	
Printing & Binding	1,000	187	813	1,000	1,000	
Insurance General Liability	6,334	6,161	-	6,161	6,932	
Legal Advertising	1,500	2,143	500	2,643	2,000	
Other Current Charges	500	-	400	400	1,750	
Office Supplies	50	3	49	52	50	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$	96,989	$	94,224	$	18,290	$	112,515	$	118,958	

Operations & Maintenance						
Grounds Maintenance						
Cost Share Landscaping - Rivers Edge	$	103,480	$	77,610	$	25,870	$	103,480	$	-	
Field Operations Management (Vesta)	39,438	29,954	9,484	39,438	41,230	
Landscape Maintenance	476,418	594,007	212,997	807,004	869,028	
Landscape Maintenance New Units	-	-	-	-	85,000	
Landscape Contingency	15,000	206,976	35,000	241,976	100,000	
Irrigation Repairs and Maintenance	40,000	77,632	25,000	102,632	65,000	
Lake Maintenance	18,000	19,828	9,000	28,828	40,360	
Irrigation Water Use	7,200	161,035	76,927	237,962	243,090	
Electric	1,000	38,768	12,611	51,380	51,500	
Street Lighting	10,000	-	10,000	10,000	10,000	
Street and Drainage Maintenance	3,000	-	3,000	3,000	3,000	
Other Repair & Replacements	10,000	6,862	3,138	10,000	10,000	
TOTAL GROUNDS MAINTENANCE	$	723,535	$ 1,212,672	$	423,027	$ 1,635,700	$ 1,518,207	

Amenity Center						
Cost Share Amenity - Rivers Edge	$	155,848	$	116,886	$	38,962	$	155,848	$	109,345	
General Manager (Vesta)	46,793	35,754	6,021	41,775	48,911	
Amenity Manager (Vesta)	29,632	22,224	7,408	29,632	53,680	
Maintenance Service (Vesta)	103,123	77,342	25,781	103,123	109,264	
Lifestyle Director (Vesta)	43,329	32,497	10,832	43,329	45,426	
Lifeguards (Vesta)	53,507	25,885	27,622	53,507	58,043	
Facility Attendant (Vesta)	85,718	64,289	21,429	85,718	-	
Guest Services (Vesta)	-	-	-	-	66,861	
Janitorial (Vesta)	32,875	24,656	8,219	32,875	34,833	
Security Monitoring	1,800	1,665	135	1,800	1,800	
Security Guards	25,000	-	25,000	25,000	25,000	
Telephone	8,500	12,078	3,750	15,828	17,000	
Insurance	14,000	80,229	-	80,229	87,147	
Fitness Equipment Lease	68,488	51,672	17,223	68,895	68,896	
Window Cleaning	1,500	-	1,500	1,500	1,500	
Pressure Washing	15,000	-	15,000	15,000	5,000	
Pool Chemicals	20,000	23,497	5,000	28,497	20,000	
Natural Gas	500	343	240	583	500	
Electric	20,000	-	20,000	20,000	20,000	
Water & Sewer	30,000	11,321	18,679	30,000	17,000	
Amenity Repairs and Replacement	10,000	22,530	12,470	35,000	35,000	
Refuse	15,000	10,937	4,063	15,000	15,000	
Pest Control	3,600	720	2,880	3,600	3,600	
Fire Alarm System and Maintenance	2,000	-	2,000	2,000	2,000	
Access Cards	1,000	-	1,000	1,000	1,000	
License & Permits	1,800	-	1,800	1,800	1,800	
Special Events	15,000	11,986	3,014	15,000	30,000	
Holiday Decorations	10,000	-	10,000	10,000	10,000	
Office Supplies & Postage	1,500	-	1,500	1,500	1,500	
Capital Expenditures	5,500	-	5,500	5,500	5,500	
TOTAL AMENITY CENTER	$	821,013	$	626,511	$	297,027	$	923,539	$	895,607	

Reserves						
General Reserves Funding	$	200,000	$	-	$	200,000	$	200,000	$	500,000	
TOTAL RESERVES	$	200,000	$	-	$	200,000	$	200,000	$	500,000	
						
TOTAL EXPENDITURES	$ 1,841,538	$ 1,933,408	$	938,345	$ 2,871,753	$ 3,032,773	

Other Sources/(Uses)						
Interlocal Transfer In/(Out)	$	-	$	-	$	-	$	-	$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
EXCESS REVENUES (EXPENDITURES)	$	(0)	$	671,586	$  (671,586)	$	0	$	(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 billed to the landowner.
Administrative Assessments on Unplatted Land
The District will levy a non ad-valorem special assessments on unplatted land within the District and are allocates upon the percentage of such undeveloped units planned relative to the budgeted General Administrative costs of the District.
Developer Contributions
The District will enter into a Funding Agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.
Special Events
Income received from residents for rental of clubroom or patio and special events deposits.
Interest Income
The District earns interest on the monthly average collected balance for each of their investment accounts.
Miscellaneous Income
Income received from access cards, rental fees, miscellaneous deposits, insurance claims, and recreational program revenue.

Expenditures - Administrative

District Engineer
The District's engineer Prosser, 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.
District Counsel
The District’s Attorney, Kilinski Van Wyk, PLLC, 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.
District Management
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
GMS, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
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.
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
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.
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 from the previous year engagement plus anticipated increase.
Trustee Fees
The District bonds will be held and administered by a Trustee. This represents the trustee annual fee.
Arbitrage Rebate
The District is required to annually have an arbitrage rebate calculation on the District’s Series 2021 Special Assessment Improvement 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.

Expenditures - Administrative (continued)

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 similar Community Development Districts.
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, BOS email annual subscriptions, 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 – Grounds Maintenance

Field Operations Management
The District has contracted with Vesta Property Services, Inc to provide field operations management to oversee all day-to-day operation of all the Districts assets, common grounds, and service providers.
Vendor	Description	Monthly	Annual

Landscape Maintenance

Vesta	Field OP Management

$	3,436  $

41,230

The District contracted with Yellowstone to maintain the common areas of the District and Amenity Center.
Vendor	Description	Monthly	Annual

Landscape Contingency

YellowStone	Landscape Maintenance

$	72,419

$  869,028

A provision for additional landscape features or for repair of existing landscaping.
Irrigation Repair & Replacement
The cost of miscellaneous irrigation repairs and maintenance incurred.
Lake Maintenance
The District receives lake maintenance services from Solitude Lake Management LLC.
Vendor	Description	Monthly	Annual

Solitude Lake Mngt  Lake Maintenance

$	2,530  $

30,360

Contingency or New Units	10,000

Total

$ 40,360

Expenditures – Grounds Maintenance (continued)

Irrigation Water Use
Water and re-use water needed for irrigation and maintenance of the common grounds provided by JEA.
Location	Meter Number	Monthly	Annual	
123 Grand Bridge Dr Apt IR01	81842960	$	596	$	7,156	
1729 Rivertown Main St Apt IR01	98879626	1,753	21,033	
175 Palomar Dr Apt IR01	94648240	4,424	53,092	
193 Albright Ct Apt IR01	95047215	300	3,605	
21 Grand Verde Dr Apt IR01	94648252	1,776	21,313	
2567 Rivertown Main St Apt IR01	8193163	2,092	25,106	
300 Dahlia Falls Dr	89882808	457	5,483	
3059 Rivertown Main St Apt IR01	8193156	8,511	102,132	
40 Sydney Cv	81840820	90	1,078	
438 Meadow Creek Dr	89241610	66	788	
Contingency		192	2,304	

Total

$	20,258

$ 243,090

Electric
Estimated costs for electric billed to the District by FPL.
Location	Meter Number		Monthly	Annual	
435 Meadow Creek Dr # Irr	9443314324		$	28	$	336	
2308 Rivertown Main St	9915753587		4,213	50,552	
213 Wambaw Dr # LF STA	0358405579		41	492	
Contingency			10	120	
		Total	$	4,292	$ 51,500	
Streetlighting
The estimated costs for electric billed to the District by FPL.
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

Cost Share - Amenity Rivers Edge
Shared costs with Rivers Edge CDD for amenities. Cost share is based on future development and estimated costs.
General Manager
The District has contracted with Vesta Property Services, Inc. to provide general amenity management, facility administration, and special event coordinator services.
Amenity Manager
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
The District has contracted with Vesta Property Services, Inc. to provide pool lifeguards/or pool attendants during the operating season for the pool.

Expenditures – Amenity Center (continued)

Guest Services
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.
Janitorial Services
The District has contracted with Vesta Property Services, Inc to provide maintenance of the Amenity Center swimming pools.
Vendor	Description	Monthly	Annual

Security Monitoring

Vesta	Janitorial Services

$	2,903  $

34,833

Maintenance costs and quarterly monitoring of the security alarms/cameras provided by Dynamic Security.
Security Guards
The district is contracted with Giddens Security to provide security patrols and mileage reimbursement for District Property and St. Johns Sherriff’s office to provide off-duty patrol.
Telephone
The estimated cost for telephone, internet, and cable services for the Amenity Center.
Insurance
The District’s General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance (FIA). The amount is based upon 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.
Vendor	Description	Monthly	Annual

Window Cleaning

Macrolease	Fitness Equipment Lease

$	5,741  $

68,896

The estimated cost to have windows cleaned inside and outside three times a year.

Pressure Washing
The estimated costs to have the District Amenity Center pressure washed.

Pool Chemicals
The estimated costs for providing chemicals for the Amenity Center swimming pools
Natural Gas
The District is under contract with TECO Peoples Gas to provide gas fire place and gas grills.
Electric
The estimated costs for electricity billed to the District by the electric company.
Water & Sewer
The estimated costs of water and sewer for the Amenity Center.
Amenity Repair and Replacements
Represents regular cleaning, supplies, and repairs and replacements for District’s Amenity Center.

Expenditures – Amenity Center (continued)

Refuse
The estimated costs of garbage disposal services for the Amenity Center.
Pest Control
The estimated costs of pest control services.
Fire Alarm System and Maintenance
The estimated costs of fire alarm systems and maintenance.
Access Cards
Represents the estimated cost for access cards to the District’s Amenity Center.
License & Permits
Represents license fees for the amenity center and permit fees paid to the Florida Department of Health in St. Johns County for the swimming pools.
Special Events
Represents estimated costs for the District to host special events for the community through 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.
Capital Expenditures
Represents new capital related purchases for the operation of the Amenity Center.
General Reserve
Establishment of general reserve to fund future replacements of Capital items.

Adopted Budget
Debt Service Series 2021 Capital Improvement Revenue Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY 2025	6/30/25		3 Months		9/30/25	FY 2026	

REVENUES:							

Special Assessments - Tax Roll	
$	552,665	
$	553,192	
$	-	
$	553,192	
$	552,665	
Special Assessments - Prepayments	-	60,460	-	60,460	-	
Interest Income	10,000	22,195	1,500	23,695	10,000	
Carry Forward Surplus (1)	233,368	238,301	-	238,301	255,152	
TOTAL REVENUES	$	796,033	$	874,148	$	1,500	$	875,648	$	817,817	

EXPENDITURES:					
Interest - 11/1	$	168,045	$	168,045	$	-  $	168,045	$	164,178	
Principal Prepayment - 2/1	-	65,000	-	65,000	-	
Interest - 2/1	-	594	-	594	-	
Interest - 5/1	168,045	166,858	-	166,858	164,178	
Principal - 5/1	215,000	215,000	-	215,000	220,000	
Principal Prepayment - 5/1	-	5,000	-	5,000	-	
TOTAL EXPENDITURES	$	551,090	$	620,496	$	-  $	620,496	$	548,355	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	551,090	$	620,496	$	-	$	620,496	$	548,355	
						
EXCESS REVENUES (EXPENDITURES)	$	244,943	$	253,652	$	1,500	$	255,152	$	269,462	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/26

 $	161,538 

AMORTIZATION SCHEDULE
Debt Service Series 2021 Capital Improvement Revenue Bonds

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
						
11/01/25	$	8,980,000	2.400%	$	164,178	$	164,178	
05/01/26	8,980,000	2.400% $	220,000	164,178		
11/01/26	8,760,000	3.000%		161,538	545,715	
05/01/27	8,760,000	3.000%	225,000	161,538		
11/01/27	8,535,000	3.000%		158,163	544,700	
05/01/28	8,535,000	3.000%	230,000	158,163		
11/01/28	8,305,000	3.000%		154,713	542,875	
05/01/29	8,305,000	3.000%	240,000	154,713		
11/01/29	8,065,000	3.000%		151,113	545,825	
05/01/30	8,065,000	3.000%	245,000	151,113		
11/01/30	7,820,000	3.000%		147,438	543,550	
05/01/31	7,820,000	3.000%	255,000	147,438		
11/01/31	7,565,000	3.500%		143,613	546,050	
05/01/32	7,565,000	3.500%	260,000	143,613		
11/01/32	7,305,000	3.500%		139,063	542,675	
05/01/33	7,305,000	3.500%	270,000	139,063		
11/01/33	7,035,000	3.500%		134,338	543,400	
05/01/34	7,035,000	3.500%	280,000	134,338		
11/01/34	6,755,000	3.500%		129,438	543,775	
05/01/35	6,755,000	3.500%	290,000	129,438		
11/01/35	6,465,000	3.500%		124,363	543,800	
05/01/36	6,465,000	3.500%	300,000	124,363		
11/01/36	6,165,000	3.500%		119,113	543,475	
05/01/37	6,165,000	3.500%	310,000	119,113		
11/01/37	5,855,000	3.500%		113,688	542,800	
05/01/38	5,855,000	3.500%	325,000	113,688		
11/01/38	5,530,000	3.500%		108,000	546,688	
05/01/39	5,530,000	3.500%	335,000	108,000		
11/01/39	5,195,000	3.500%		102,138	545,138	
05/01/40	5,195,000	3.500%	345,000	102,138		
11/01/40	4,850,000	3.500%		96,100	543,238	
05/01/41	4,850,000	3.500%	360,000	96,100		
11/01/41	4,490,000	4.000%		89,800	545,900	
05/01/42	4,490,000	4.000%	370,000	89,800		
11/01/42	4,120,000	4.000%		82,400	542,200	
05/01/43	4,120,000	4.000%	385,000	82,400		
11/01/43	3,735,000	4.000%		74,700	542,100	
05/01/44	3,735,000	4.000%	405,000	74,700		
11/01/44	3,330,000	4.000%		66,600	546,300	
05/01/45	3,330,000	4.000%	420,000	66,600		
11/01/45	2,910,000	4.000%		58,200	544,800	
05/01/46	2,910,000	4.000%	435,000	58,200		
11/01/46	2,475,000	4.000%		49,500	542,700	
05/01/47	2,475,000	4.000%	455,000	49,500		
11/01/47	2,020,000	4.000%		40,400	544,900	
05/01/48	2,020,000	4.000%	475,000	40,400		
11/01/48	1,545,000	4.000%		30,900	546,300	
05/01/49	1,545,000	4.000%	495,000	30,900		
11/01/49	1,050,000	4.000%		21,000	546,900	
05/01/50	1,050,000	4.000%	515,000	21,000		
11/01/50	535,000	4.000%		10,700	546,700	
05/01/51	535,000	4.000%	535,000	10,700	545,700	
Total		$	8,980,000  $	5,342,380	$  14,322,380	

Adopted Budget
Debt Service Series 2024 Capital Improvement Revenue Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY 2025	6/30/25		3 Months		9/30/25	FY 2026	

REVENUES:							

Special Assessment	
$	-	
$	-	
$	-	
$	-	
$	695,519	
Prepayments	-	4,753	-	4,753	-	
Interest Income	10,000	32,424	2,500	34,924	10,000	
Carry Forward Surplus (2)	1,178,252	838,518	-	838,518	339,550	
TOTAL REVENUES	$ 1,188,252	$	875,694	$	2,500	$	878,194	$ 1,045,069	

EXPENDITURES:						
Interest - 11/1	$	256,796	$	256,796	$	-	$	256,796	$	281,849	
Interest - 5/1	281,849	281,849	-	281,849	281,849	
Principal - 5/1	-	-	-	-	130,000	
TOTAL EXPENDITURES	$	538,644	$	538,644	$	-	$	538,644	$	693,698	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	538,644	$	538,644	$	-	$	538,644	$	693,698	
						
EXCESS REVENUES (EXPENDITURES)	$	649,608	$	337,050	$	2,500	$	339,550	$	351,372	

(2) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/26

 $	278,729 

AMORTIZATION SCHEDULE
Debt Service Series 2024 Capital Improvement Revenue Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/25	$	9,815,000			$	281,849		
05/01/26	9,815,000	4.800%	$	130,000	281,849	$	693,698	
11/01/26	9,685,000	4.800%		278,729		
05/01/27	9,685,000	4.800%	140,000	278,729	697,458	
11/01/27	9,545,000	4.800%		275,369		
05/01/28	9,545,000	4.800%	145,000	275,369	695,738	
11/01/28	9,400,000	4.800%		271,889		
05/01/29	9,400,000	4.800%	155,000	271,889	698,778	
11/01/29	9,245,000	4.800%		268,169		
05/01/30	9,245,000	4.800%	160,000	268,169	696,338	
11/01/30	9,085,000	4.800%		264,329		
05/01/31	9,085,000	4.800%	170,000	264,329	698,658	
11/01/31	8,915,000	4.800%		260,249		
05/01/32	8,915,000	5.650%	175,000	260,249	695,498	
11/01/32	8,740,000	5.650%		255,305		
05/01/33	8,740,000	5.650%	190,000	255,305	700,610	
11/01/33	8,550,000	5.650%		249,938		
05/01/34	8,550,000	5.650%	200,000	249,938	699,875	
11/01/34	8,350,000	5.650%		244,288		
05/01/35	8,350,000	5.650%	210,000	244,288	698,575	
11/01/35	8,140,000	5.650%		238,355		
05/01/36	8,140,000	5.650%	220,000	238,355	696,710	
11/01/36	7,920,000	5.650%		232,140		
05/01/37	7,920,000	5.650%	235,000	232,140	699,280	
11/01/37	7,685,000	5.650%		225,501		
05/01/38	7,685,000	5.650%	250,000	225,501	701,003	
11/01/38	7,435,000	5.650%		218,439		
05/01/39	7,435,000	5.650%	265,000	218,439	701,878	
11/01/39	7,170,000	5.650%		210,953		
05/01/40	7,170,000	5.650%	280,000	210,953	701,905	
11/01/40	6,890,000	5.650%		203,043		
05/01/41	6,890,000	5.650%	295,000	203,043	701,085	
11/01/41	6,595,000	5.650%		194,709		
05/01/42	6,595,000	5.650%	315,000	194,709	704,418	
11/01/42	6,280,000	5.650%		185,810		
05/01/43	6,280,000	5.650%	330,000	185,810	701,620	
11/01/43	5,950,000	5.650%		176,488		
05/01/44	5,950,000	5.650%	350,000	176,488	702,975	
11/01/44	5,600,000	5.650%		166,600		
05/01/45	5,600,000	5.950%	370,000	166,600	703,200	
11/01/45	5,230,000	5.950%		155,593		
05/01/46	5,230,000	5.950%	395,000	155,593	706,185	
11/01/46	4,835,000	5.950%		143,841		
05/01/47	4,835,000	5.950%	420,000	143,841	707,683	
11/01/47	4,415,000	5.950%		131,346		
05/01/48	4,415,000	5.950%	445,000	131,346	707,693	
11/01/48	3,970,000	5.950%		118,108		
05/01/49	3,970,000	5.950%	470,000	118,108	706,215	
11/01/49	3,500,000	5.950%		104,125		
05/01/50	3,500,000	5.950%	500,000	104,125	708,250	
11/01/50	3,000,000	5.950%		89,250		
05/01/51	3,000,000	5.950%	530,000	89,250	708,500	
11/01/51	2,470,000	5.950%		73,483		
05/01/52	2,470,000	5.950%	565,000	73,483	711,965	
11/01/52	1,905,000	5.950%		56,674		
05/01/53	1,905,000	5.950%	595,000	56,674	708,348	
11/01/53	1,310,000	5.950%		38,973		
05/01/54	1,310,000	5.950%	635,000	38,973	712,945	
11/01/54	675,000	5.950%		20,081		
05/01/55	675,000	5.950%	675,000	20,081	715,163	
Total	$	9,815,000	$	11,805,884	$	21,620,884	

Adopted Budget
Debt Service Series 2025 Capital Improvement Revenue Bonds

Description

Adopted Budget FY 2025

Actuals Thru	Projected Next  Projected Thru

6/30/25

	3 Months	

9/30/25

Adopted Budget FY 2026

REVENUES:

Special Assessment (1)
Bond Proceeds	$	-  $	-
-	1,147,950	$	-
-	$	-
1,147,950	$	-
-	
Interest Income	-	-	1,000	1,000	10,000	
Carry Forward Surplus (2)	-	-	-	-	1,148,950	
TOTAL REVENUES	$	-  $ 1,147,950	$	1,000	$  1,148,950	$ 1,158,950	

EXPENDITURES:					

Interest - 11/1	
$	-  $	-  $	-  $	-  $	210,365	
Interest - 5/1	-	-	-	-	289,051	
Principal - 5/1	-	-	-	-	-	
TOTAL EXPENDITURES	$	-  $	-  $	-  $	-  $	499,416	

Other Sources/(Uses)

Interfund transfer In/(Out)

$	-  $

-  $	-  $

-  $	-

EXCESS REVENUES (EXPENDITURES)	$	-  $ 1,147,950  $	1,000  $  1,148,950  $	659,534

TOTAL EXPENDITURES	$	-  $	-  $	-  $	-  $	499,416

TOTAL OTHER SOURCES/(USES)	$	-  $	-  $	-  $	-  $	-

(1) Bonds Series 2025 are under Capitalized Interest until 11/1/26, Assessments Start in FY 27

(2) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/26

 $	289,051 

AMORTIZATION SCHEDULE
Debt Service Series 2025 Capital Improvement Revenue Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/25	$	10,115,000			$	210,365		
05/01/26	10,115,000		-	289,051	499,416	
11/01/26	10,115,000			289,051		
05/01/27	10,115,000	4.250%	140,000	289,051	718,103	
11/01/27	9,975,000	4.250%		286,076		
05/01/28	9,975,000	4.250%	150,000	286,076	722,153	
11/01/28	9,825,000	4.250%		282,889		
05/01/29	9,825,000	4.250%	155,000	282,889	720,778	
11/01/29	9,670,000	4.250%		279,595		
05/01/30	9,670,000	4.250%	160,000	279,595	719,190	
11/01/30	9,510,000	4.800%		276,195		
05/01/31	9,510,000	4.800%	170,000	276,195	722,390	
11/01/31	9,340,000	4.800%		272,115		
05/01/32	9,340,000	4.800%	175,000	272,115	719,230	
11/01/32	9,165,000	4.800%		267,915		
05/01/33	9,165,000	4.800%	185,000	267,915	720,830	
11/01/33	8,980,000	4.800%		263,475		
05/01/34	8,980,000	4.800%	195,000	263,475	721,950	
11/01/34	8,785,000	4.800%		258,795		
05/01/35	8,785,000	4.800%	205,000	258,795	722,590	
11/01/35	8,580,000	4.800%		253,875		
05/01/36	8,580,000	5.750%	215,000	253,875	722,750	
11/01/36	8,365,000	5.750%		247,694		
05/01/37	8,365,000	5.750%	230,000	247,694	725,388	
11/01/37	8,135,000	5.750%		241,081		
05/01/38	8,135,000	5.750%	240,000	241,081	722,163	
11/01/38	7,895,000	5.750%		234,181		
05/01/39	7,895,000	5.750%	255,000	234,181	723,363	
11/01/39	7,640,000	5.750%		226,850		
05/01/40	7,640,000	5.750%	270,000	226,850	723,700	
11/01/40	7,370,000	5.750%		219,088		
05/01/41	7,370,000	5.750%	285,000	219,088	723,175	
11/01/41	7,085,000	5.750%		210,894		
05/01/42	7,085,000	5.750%	305,000	210,894	726,788	
11/01/42	6,780,000	5.750%		202,125		
05/01/43	6,780,000	5.750%	320,000	202,125	724,250	
11/01/43	6,460,000	5.750%		192,925		
05/01/44	6,460,000	5.750%	340,000	192,925	725,850	
11/01/44	6,120,000	5.750%		183,150		
05/01/45	6,120,000	5.750%	360,000	183,150	726,300	
11/01/45	5,760,000	6.000%		172,800		
05/01/46	5,760,000	6.000%	380,000	172,800	725,600	
11/01/46	5,380,000	6.000%		161,400		
05/01/47	5,380,000	6.000%	405,000	161,400	727,800	
11/01/47	4,975,000	6.000%		149,250		
05/01/48	4,975,000	6.000%	430,000	149,250	728,500	
11/01/48	4,545,000	6.000%		136,350		
05/01/49	4,545,000	6.000%	455,000	136,350	727,700	
11/01/49	4,090,000	6.000%		122,700		
05/01/50	4,090,000	6.000%	485,000	122,700	730,400	
11/01/50	3,605,000	6.000%		108,150		
05/01/51	3,605,000	6.000%	515,000	108,150	731,300	
11/01/51	3,090,000	6.000%		92,700		
05/01/52	3,090,000	6.000%	545,000	92,700	730,400	
11/01/52	2,545,000	6.000%		76,350		
05/01/53	2,545,000	6.000%	580,000	76,350	732,700	
11/01/53	1,965,000	6.000%		58,950		
05/01/54	1,965,000	6.000%	615,000	58,950	732,900	
11/01/54	1,350,000	6.000%		40,500		
05/01/55	1,350,000	6.000%	655,000	40,500	736,000	
11/01/55	695,000	6.000%		20,850		
05/01/56	695,000	6.000%	695,000	20,850	736,700	
11/01/56						
Total	$  10,115,000	$	12,155,354	$  22,270,354	

Adopted Budget Capital Reserve Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY 2025	6/30/25		3 Months		9/30/25	FY 2026	

REVENUES:						
Interest Income	$	100	$	-	$	25	$	25	$	100	
Capital Reserve Funding	200,000	-	200,000	200,000	500,000	
Developer Contributions	-	114,016	-	114,016	-	
Carry Forward Balance	245,091	-	245,091	245,091	428,882	
TOTAL REVENUES	$	445,191	$	114,016	$	445,116	$	559,132	$	928,982	

EXPENDITURES:						
Repair and Replacements	$	5,000	$	-	$	1,000	$	1,000	$	10,000	
Capital Outlay	-	114,016	15,000	129,016	150,000	
RiverHouse Access Control System (C/S)	-	-	-	-	5,253	
RiverHouse Painting (C/S)	-	-	-	-	31,756	
RiverHouse Furniture (C/S)	-	-	-	-	28,016	
RiverHouse A/C Unit Replacement (C/S)	-	-	-	-	38,522	
RiverHouse Tennis Court Fencing (C/S)	-	-	-	-	28,016	
RiverHouse Pool Pump Sand Filtration (C/S)	-	-	-	-	43,775	
Permanent Holiday Lighting (C/S)	-	-	-	-	27,316	
Playground Equipment (C/S)	-	-	-	-	7,004	
Pocket Parks Equipment Repair/Replacement (C/S)	-	-	-	-	15,531	
Maintenance Golf Cart (C/S)	-	-	-	-	3,502	
Maintenance Work Truck (C/S)	-	-	-	-	22,763	
Bank Fee	-	153	80	233	360	
TOTAL EXPENDITURES	$	5,000	$	114,169	$	16,080	$	130,249	$	411,814	

Other Sources/(Uses)						

Transfer in	
$	-	
$	-	
$	-	
$	-	
$	-	
Transfer (Out)	-	-	-	-	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	5,000	$	114,169	$	16,080	$	130,249	$	411,814	
						
EXCESS REVENUES (EXPENDITURES)	$	440,191	$	(153)	$	429,036	$	428,882	$	517,168	

Rivers Edge III
Community Development District
Non-Ad Valorem Assessments Comparison 2025-2026

Neighborhood	O&M Units	Bonds 2021
Units	Bonds 2024
Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
	
FY 2026	
FY 2025	
Increase/ (decrease)	
FY 2026	
FY 2025	
Increase/ (decrease)	

Single Familiy - 40' - 49 Lot	
277	
277	
277	
$1,788.07	
$1,490.06	
$298.01	
20.00%	
$506.40	
$506.40	
$0.00	
0.00%	
Single Familiy - 50' - 59 Lot	114	114	114	$2,193.36	$1,827.80	$365.56	20.00%	$595.06	$595.06	$0.00	0.00%	
Single Familiy - 60' - 69 Lot	179	179	179	$2,384.09	$1,986.74	$397.35	20.00%	$675.23	$675.23	$0.00	0.00%	
Single Familiy - 70' - 79 Lot	0	0	0	$2,980.10	$2,483.42	$496.68	20.00%	$0.00	$0.00	$0.00	-	
Single Familiy - 80'+ Lot	0	0	0	$0.00	$0.00	$0.00	-	$0.00	$0.00	$0.00	-	
Total	570	570	570