Rivers Edge III

Community Development District

Approved Budget
FY 2027

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	$	1,101,765	$	1,145,848	$	14,744	$	1,160,592	$	1,415,923	
Special Assessments - Direct Bill	-	663,736	-	663,736	663,736	
Administrative Assessments on Unplatted Land	74,495	-	74,495	74,495	-	
Developer Contributions	1,666,333	-	936,216	891,785	1,040,048	
Cost Share Landscaping Rivers Edge II	186,679	93,339	93,339	186,679	74,126	
Special Events	1,000	-	1,000	1,000	1,000	
Interest Revenue	2,000	4,869	3,500	8,369	2,000	
Miscellaneous Income	500	-	500	500	500	
Insurance Proceeds	-	2,380	-	2,380	-	
TOTAL REVENUES	$ 3,032,773	$ 1,910,172	$ 1,123,795	$ 2,989,536	$ 3,197,332	

EXPENDITURES:						
Administrative						
District Engineer	$	15,000	$	10,098	$	4,902	$	15,000	$	20,000	
District Counsel	30,000	15,838	14,162	30,000	35,000	
District Management	33,034	16,517	16,517	33,034	35,000	
Assessment Roll Administration	5,899	5,899	-	5,899	6,250	
Dissemination Agent	4,129	2,056	2,073	4,129	4,500	
Information Technology	1,416	708	708	1,416	1,500	
Website Administration	2,124	1,062	1,062	2,124	2,250	
Website Maintenance	800	800	-	800	800	
Annual Audit	6,800	-	6,800	6,800	6,900	
Trustee Fees	6,600	5,150	3,750	8,900	8,900	
Arbitrage Rebate	600	450	600	1,050	1,500	
Telephone	150	17	133	150	150	
Postage & Delivery	500	555	425	980	1,000	
Printing & Binding	1,000	137	863	1,000	1,000	
Insurance General Liability	6,932	6,530	-	6,530	7,183	
Legal Advertising	2,000	208	1,792	2,000	2,000	
Other Current Charges	1,750	41	1,709	1,750	1,750	
Office Supplies	50	3	47	50	50	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$	118,958	$	66,243	$	55,544	$	121,787	$	135,908	

Operations & Maintenance						
Grounds Maintenance						
Field Operations Management (Vesta)	$	41,230	$	20,615	$	20,615	$	41,230	$	43,294	
Landscape Maintenance	869,028	361,875	490,113	851,988	1,021,317	
Landscape Maintenance New Units	85,000	-	85,000	85,000	85,000	
Landscape Contingency	100,000	61,123	38,877	100,000	100,000	
Irrigation Repairs and Maintenance	65,000	27,631	30,000	57,631	65,000	
Lake Maintenance	40,360	15,606	24,754	40,360	40,360	
Irrigation Water Use	243,090	73,599	169,491	243,090	243,307	
Electric	51,500	2,569	4,500	7,069	7,046	
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	9,500	500	10,000	10,000	
TOTAL GROUNDS MAINTENANCE	$ 1,518,207	$	572,518	$	876,850	$ 1,449,368	$ 1,628,323	

Amenity Center						
Cost Share Amenity - Rivers Edge	$	109,345	$	54,672	$	54,673	$	109,345	$	79,995	
General Manager (Vesta)	48,911	25,334	23,577	48,911	51,354	
Amenity Manager (Vesta)	53,680	26,840	26,840	53,680	56,588	
Maintenance Service (Vesta)	109,264	54,632	54,632	109,264	115,761	
Lifestyle Director (Vesta)	45,426	22,713	22,713	45,426	47,792	
Lifeguards (Vesta)	58,043	4,222	53,821	58,043	62,078	
Guest Services (Vesta)	66,861	33,431	33,431	66,861	71,511	
Janitorial (Vesta)	34,833	17,417	17,417	34,833	36,904	
Security Monitoring	1,800	1,110	690	1,800	1,800	
Security Guards	25,000	-	-	-	-	
Internet & Cable	17,000	6,534	10,466	17,000	15,600	
Insurance	87,147	79,781	-	79,781	75,792	
Fitness Equipment Lease	68,896	34,448	34,448	68,896	68,896	
Window Cleaning	1,500	-	1,500	1,500	1,500	
Pressure Washing	5,000	430	4,570	5,000	5,000	
Pool Chemicals	20,000	10,612	9,388	20,000	40,000	
Natural Gas	500	679	660	1,339	1,320	
Electric	20,000	25,768	30,000	55,768	57,000	
Water & Sewer	17,000	9,614	12,000	21,614	25,111	
Amenity Repairs and Replacement	35,000	21,530	30,000	51,530	50,000	
Refuse	15,000	8,890	9,000	17,890	19,200	
Pest Control	3,600	1,188	2,412	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	751	1,049	1,800	1,800	
Special Events	30,000	1,975	28,025	30,000	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	-	-	-	-	
TOTAL AMENITY CENTER	$	895,607	$	442,570	$	475,811	$	918,381	$	933,101	

Reserves						
General Reserves Funding	$	500,000	$	-	$	500,000	$	500,000	$	500,000	
TOTAL RESERVES	$	500,000	$	-	$	500,000	$	500,000	$	500,000	
						
TOTAL EXPENDITURES	$ 3,032,773	$ 1,081,331	$ 1,908,205	$ 2,989,536	$ 3,197,332	

Other Sources/(Uses)						
Interlocal Transfer In/(Out)	$	-	$	50,000	$	-	$	50,000	$	-	
		(50,000)	-	(50,000)		
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
EXCESS REVENUES (EXPENDITURES)	$	-	$	828,841	$  (784,410)	$	-	$	-	

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 assessment on unplatted land within the District, allocated based on 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.

Cost Share Landscaping Rivers Edge II
Mattamy Rivertown LLC and Rivers Edge CDD III have an agreement to cost share a portion of the maintenance costs for landscaping. Cost share is based on future development and estimated costs.

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, Prime AE Group, 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 provide 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 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 Securities and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.

Vendor
GMS

Description
Dissemination Agent

Monthly	Annual
$	333 $	4,000

Disclosure Services Revised Amortization Schedules		500 
Total	$	4,500
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's engagement plus an anticipated increase.
Trustee Fees
The District's bonds will be held and administered by a Trustee. This represents the Trustee's annual fee.
Arbitrage Rebate
The District is required to annually have an arbitrage rebate calculation performed on the District's Series 2021, 2024, and 2025 Special Assessment Improvement Revenue Bonds. The District has contracted with Grau and Associates for Series 2021. American Municipal Tax-Exempt Compliance Corp. (AMTEC) serves as the District's tax compliance agent for Series 2024 and 2025, calculating the rebate liability and submitting a report to the District.
Telephone
Internet and Wi-Fi service for the 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 incurred during the year.

Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.
Dues, 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 operations of the District's assets, common grounds, and service providers.
Vendor	Description	Monthly	Annual

Landscape Maintenance

Vesta	Field OP Management

$	3,608  $

43,294

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

Landscape Contingency

Yellowstone	Landscape Maintenance

$	85,110

$ 1,021,317

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

Irrigation Water Use
The estimated costs of water and reuse water provided by JEA for irrigation and maintenance of the District's common grounds.
Location	Meter	Monthly	Annual	
123 Grand Bridge Dr Apt IR01	81842960	$	3,036	$	36,432	
1729 Rivertown Main St Apt IR01	98879626	568	6,812	
175 Palomar Dr Apt IR01	101257906	1,241	14,886	
193 Albright Ct Apt IR01	95047215	290	3,482	
21 Grand Verde Dr Apt IR01	94648252	1,514	18,168	
2567 Rivertown Main St Apt IR01	8193163	314	3,766	
300 Dahlia Falls Dr	89882808	451	5,416	
3059 Rivertown Main St Apt IR01	8193156	5,821	69,858	
40 Sydney Cv	81840820	439	5,269	
438 Meadow Creek Dr	89241610	249	2,985	
147 Grand Lakes Dr Apt IR01	100703747	1,852	22,221	
361 Claiborne La Apt IR01	98537574	1,475	17,694	
377 Holly Creek Dr Apt IR01	514092938	290	3,484	
57 Orangedale Cr Apt IR01	100691730	877	10,524	
685 Claiborne La Apt IR01	94504957	572	6,867	
149 Saddlebunch Ct Apt IR01	89241658	299	3,591	
158 Adirondack Dr Apt IR01	100691731	297	3,566	
475 Adirondack Dr Apt IR01	101141078	524	6,288	
Contingency			2,000	
	Total	$	20,109	$ 243,307	

Electric
The estimated costs of electric service provided by FPL for the District's irrigation pumps and lift stations located throughout the community.
Location	Meter	Monthly	Annual	
435 Meadow Creek Dr #IRR	9443314324	$	37	$	443	
213 Wambaw Dr # LF Sta	358405579	55	662	
3332 Rivertown Main St #IRR	4550426110	32	387	
3614 Rivertown Main St #IRR	1843716117	32	386	
153 Grand Lakes Dr #IRR	6356546405	37	442	
63 Orangedale Cir #IRR	4192721290	37	442	
4286 Rivertown Main St #IRR	954602108	36	437	
3604 State Road 13 N	8252554343	212	2,539	
469 Adirondack Dr #IRR	8496240220	26	308	
Contingency			1,000	
	Total	$	504	$	7,046	
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 has 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 and recreational group activities and entertainment for the residents living in the community.
Lifeguards
The District has contracted with Vesta Property Services, Inc. to provide pool lifeguards and/or pool attendants during the operating season for the pool.

Guest Services
The District has contracted with Vesta to provide community facility staff for the Amenity Center to greet patrons, provide facility tours, issue access cards, and enforce policy.
Janitorial Services
The District has contracted with Vesta Property Services, Inc. to provide janitorial services for the Amenity Center.
Vendor	Description	Monthly	Annual

Security Monitoring

Vesta	Janitorial Services

$	3,075  $

36,904

Maintenance costs and quarterly monitoring of the security alarms/cameras provided by Dynamic Security.
Internet & Cable
The estimated cost for internet and cable services provided by Comcast Business for two District facilities: the Amenity Center at 110 Grand Verde Dr and the River Lodge at 100 Grand Verde Dr.
Vendor	Description	Location	Monthly	Annual	
Comcast	Internet & Cable	Amenity Center	$	500	$	6,000	
Comcast	Internet & Cable	River Lodge	800	9,600	
		Total	$	1,300	$	15,600	
Insurance
The District's General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance (FIA). The amount is based upon the estimated premium for property insurance related to the Amenity Center 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's 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 and Florida Natural Gas to provide gas for the fireplace and gas grills.
Vendor	Description	Monthly	Annual

Teco	Gas

$	90  $

1,080

Electric

Florida Natural Gas Gas		20	240 
Total	$	110 $	1,320

The estimated costs for electricity billed to the District by the electric company.
Location	Meter	Monthly	Annual

2308 Rivertown Main St	9915753587	$

5,154  $

61,842

Water & Sewer

Contingency		1,000 
Total	$	5,154 $	62,842

Estimated costs for sewer, water, and irrigation for the Amenity Center billed to the District by JEA.
Location	Meter	Monthly	Annual	
1849 Rivertown Main St	91681728	$	33	$	400	
2308 Rivertown Main St - Water	94648253	108	1,293	
2308 Rivertown Main St	Fire Sprinkler 1	51	612	
2308 Rivertown Main St - Water	94648265	1,315	15,777	
2308 Rivertown Main St - Sewer	94648253	336	4,028	
Contingency		3,000 	
Total	$	1,843	25,111	
Amenity Repair and Replacements
Represents regular cleaning, supplies, and repairs and replacements for the District's Amenity Center.

Refuse
Garbage disposal services for the Amenity Center provided by Republic Services, including one 8-cubic-yard waste container with two pickups per week.
Vendor	Description	Monthly	Annual

Pest Control

Republic Services  Refuse

$	1,600  $

19,200

The District has contracted with Turner's Pest Control to provide 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.
Licenses & 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 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.
General Reserve
The District funds a capital reserve dedicated to future renewal, replacement, and unanticipated capital needs. These funds are transferred to the Capital Reserve Fund to support long-term financial stability and the ongoing upkeep of District infrastructure and facilities.

Approved Budget
Debt Service Series 2021 Capital Improvement Revenue Bonds

Description

Adopted Budget FY 2026

Actuals Thru	Projected Next  Projected Thru

3/31/26

	6 Months	

9/30/26

Approved Budget FY 2027

REVENUES:

Special Assessments - Tax Roll	$	552,665	$	543,587	$	6,995	$	550,581	$	552,665	
Interest Income	10,000	12,849	5,000	17,849	10,000	
Carry Forward Surplus (1)	255,152	265,927	-	265,927	276,003	
TOTAL REVENUES	$	817,817	$	822,363	$	11,995	$	834,358	$	838,668	

EXPENDITURES:						
Interest - 11/1	$	164,178	$	164,178	$	-	$	164,178	$	161,438	
Principal Prepayment - 11/1	-	5,000	-	5,000	-	
Interest - 5/1	164,178	-	164,178	164,178	161,438	
Principal - 5/1	220,000	-	220,000	220,000	225,000	
Principal Prepayment - 5/1	-	-	5,000	5,000	-	
TOTAL EXPENDITURES	$	548,355	$	169,178	$	389,178	$	558,355	$	547,875	

Other Sources/(Uses)						

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	548,355	$	169,178	$	389,178	$	558,355	$	547,875	
						
EXCESS REVENUES (EXPENDITURES)	$	269,462	$	653,185	$  (377,183)	$	276,003	$	290,793	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/27

 $	158,063 

AMORTIZATION SCHEDULE
Debt Service Series 2021 Capital Improvement Revenue Bonds

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
						
11/01/26	8,755,000	3.000%	225,000	161,438		
05/01/27	8,530,000	3.000%	-	158,063	544,500	
11/01/27	8,530,000	3.000%	230,000	158,063		
05/01/28	8,300,000	3.000%	-	154,613	542,675	
11/01/28	8,300,000	3.000%	240,000	154,613		
05/01/29	8,060,000	3.000%	-	151,013	545,625	
11/01/29	8,060,000	3.000%	245,000	151,013		
05/01/30	7,815,000	3.000%	-	147,338	543,350	
11/01/30	7,815,000	3.000%	255,000	147,338		
05/01/31	7,560,000	3.000%	-	143,513	545,850	
11/01/31	7,560,000	3.500%	260,000	143,513		
05/01/32	7,300,000	3.500%	-	138,963	542,475	
11/01/32	7,300,000	3.500%	270,000	138,963		
05/01/33	7,030,000	3.500%	-	134,238	543,200	
11/01/33	7,030,000	3.500%	280,000	134,238		
05/01/34	6,750,000	3.500%	-	129,338	543,575	
11/01/34	6,750,000	3.500%	290,000	129,338		
05/01/35	6,460,000	3.500%	-	124,263	543,600	
11/01/35	6,460,000	3.500%	300,000	124,263		
05/01/36	6,160,000	3.500%	-	119,013	543,275	
11/01/36	6,160,000	3.500%	310,000	119,013		
05/01/37	5,850,000	3.500%	-	113,588	542,600	
11/01/37	5,850,000	3.500%	325,000	113,588		
05/01/38	5,525,000	3.500%	-	107,900	546,488	
11/01/38	5,525,000	3.500%	335,000	107,900		
05/01/39	5,190,000	3.500%	-	102,038	544,938	
11/01/39	5,190,000	3.500%	345,000	102,038		
05/01/40	4,845,000	3.500%	-	96,000	543,038	
11/01/40	4,845,000	3.500%	360,000	96,000		
05/01/41	4,485,000	3.500%	-	89,700	545,700	
11/01/41	4,485,000	4.000%	370,000	89,700		
05/01/42	4,115,000	4.000%	-	82,300	542,000	
11/01/42	4,115,000	4.000%	385,000	82,300		
05/01/43	3,730,000	4.000%	-	74,600	541,900	
11/01/43	3,730,000	4.000%	405,000	74,600		
05/01/44	3,325,000	4.000%	-	66,500	546,100	
11/01/44	3,325,000	4.000%	420,000	66,500		
05/01/45	2,905,000	4.000%	-	58,100	544,600	
11/01/45	2,905,000	4.000%	435,000	58,100		
05/01/46	2,470,000	4.000%	-	49,400	542,500	
11/01/46	2,470,000	4.000%	455,000	49,400		
05/01/47	2,015,000	4.000%	-	40,300	544,700	
11/01/47	2,015,000	4.000%	475,000	40,300		
05/01/48	1,540,000	4.000%	-	30,800	546,100	
11/01/48	1,540,000	4.000%	495,000	30,800		
05/01/49	1,045,000	4.000%	-	20,900	546,700	
11/01/49	1,045,000	4.000%	510,000	20,900		
05/01/50	535,000	4.000%	-	10,700	541,600	
11/01/50	535,000	4.000%	535,000	10,700		
05/01/51	-	4.000%	-	-	545,700	
Total			$	8,755,000	$	4,847,788	$  13,602,788	

Approved Budget
Debt Service Series 2024 Capital Improvement Revenue Bonds

Description

Adopted Budget FY 2026

Actuals Thru	Projected Next  Projected Thru

3/31/26

	6 Months	

9/30/26

Approved Budget FY 2027

REVENUES:

Special Assessments - Tax Roll	$	67,018	$	61,660	$	5,358	$	67,018	$	62,454	
Special Assessments - Direct Bill	628,501	471,376	157,125	628,501	628,501	
Interest Income	10,000	11,182	4,000	15,182	10,000	
Carry Forward Surplus (1)	334,797	344,541	-	344,541	351,544	
TOTAL REVENUES	$ 1,040,316	$	888,759	$	166,483	$  1,055,242	$ 1,052,499	

EXPENDITURES:						
Interest - 11/1	$	281,849	$	281,849	$	-	$	281,849	$	278,431	
Principal Prepayment - 11/1	-	5,000	-	5,000	-	
Interest - 5/1	281,849	-	281,849	281,849	278,431	
Principal - 5/1	130,000	-	130,000	130,000	140,000	
Principal Prepayment - 5/1	-	-	5,000	5,000	-	
TOTAL EXPENDITURES	$	693,698	$	286,849	$	416,849	$	703,698	$	696,863	

Other Sources/(Uses)						

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	693,698	$	286,849	$	416,849	$	703,698	$	696,863	
						
EXCESS REVENUES (EXPENDITURES)	$	346,619	$	601,910	$  (250,366)	$	351,544	$	355,636	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/27

 $	275,071 

AMORTIZATION SCHEDULE
Debt Service Series 2024 Capital Improvement Revenue Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/26	9,675,000	4.800%	-	278,431	278,431	
05/01/27	9,675,000	4.800%	140,000	278,431		
11/01/27	9,535,000	4.800%	$	-	275,071	693,503	
05/01/28	9,535,000	4.800%	145,000	275,071		
11/01/28	9,390,000	4.800%	-	271,591	691,663	
05/01/29	9,390,000	4.800%	155,000	271,591		
11/01/29	9,235,000	4.800%	-	267,871	694,463	
05/01/30	9,235,000	4.800%	160,000	267,871		
11/01/30	9,075,000	4.800%	-	264,031	691,903	
05/01/31	9,075,000	4.800%	170,000	264,031		
11/01/31	8,905,000	4.800%	-	259,951	693,983	
05/01/32	8,905,000	5.650%	175,000	259,951		
11/01/32	8,730,000	5.650%	-	255,008	689,959	
05/01/33	8,730,000	5.650%	190,000	255,008		
11/01/33	8,540,000	5.650%	-	249,640	694,648	
05/01/34	8,540,000	5.650%	200,000	249,640		
11/01/34	8,340,000	5.650%	-	243,990	693,630	
05/01/35	8,340,000	5.650%	210,000	243,990		
11/01/35	8,130,000	5.650%	-	238,058	692,048	
05/01/36	8,130,000	5.650%	225,000	238,058		
11/01/36	7,905,000	5.650%	-	231,701	694,759	
05/01/37	7,905,000	5.650%	235,000	231,701		
11/01/37	7,670,000	5.650%	-	225,063	691,764	
05/01/38	7,670,000	5.650%	250,000	225,063		
11/01/38	7,420,000	5.650%	-	218,000	693,063	
05/01/39	7,420,000	5.650%	265,000	218,000		
11/01/39	7,155,000	5.650%	-	210,514	693,514	
05/01/40	7,155,000	5.650%	280,000	210,514		
11/01/40	6,875,000	5.650%	-	202,604	693,118	
05/01/41	6,875,000	5.650%	295,000	202,604		
11/01/41	6,580,000	5.650%	-	194,270	691,874	
05/01/42	6,580,000	5.650%	310,000	194,270		
11/01/42	6,270,000	5.650%	-	185,513	689,783	
05/01/43	6,270,000	5.650%	330,000	185,513		
11/01/43	5,940,000	5.650%	-	176,190	691,703	
05/01/44	5,940,000	5.650%	350,000	176,190		
11/01/44	5,590,000	5.650%	-	166,303	692,493	
05/01/45	5,590,000	5.950%	370,000	166,303		
11/01/45	5,220,000	5.950%	-	155,295	691,598	
05/01/46	5,220,000	5.950%	395,000	155,295		
11/01/46	4,825,000	5.950%	-	143,544	693,839	
05/01/47	4,825,000	5.950%	420,000	143,544		
11/01/47	4,405,000	5.950%	-	131,049	694,593	
05/01/48	4,405,000	5.950%	445,000	131,049		
11/01/48	3,960,000	5.950%	-	117,810	693,859	
05/01/49	3,960,000	5.950%	470,000	117,810		
11/01/49	3,490,000	5.950%	-	103,828	691,638	
05/01/50	3,490,000	5.950%	500,000	103,828		
11/01/50	2,990,000	5.950%	-	88,953	692,780	
05/01/51	2,990,000	5.950%	530,000	88,953		
11/01/51	2,460,000	5.950%	-	73,185	692,138	
05/01/52	2,460,000	5.950%	560,000	73,185		
11/01/52	1,900,000	5.950%	-	56,525	689,710	
05/01/53	1,900,000	5.950%	595,000	56,525		
11/01/53	1,305,000	5.950%	-	38,824	690,349	
05/01/54	1,305,000	5.950%	635,000	38,824		
11/01/54	670,000	5.950%	-	19,933	693,756	
05/01/55	670,000	5.950%	670,000	19,933		
9/18/2055		5.950%	-	$-	689,932.50	
Total			$	9,535,000	$  10,685,485	$  20,220,485	

Approved Budget
Debt Service Series 2025 Capital Improvement Revenue Bonds

Description

Approved Budget FY 2026

Actuals Thru	Projected Next  Projected Thru

3/31/26

	6 Months	

9/30/26

Approved Budget FY 2027

REVENUES:

Special Assessment	$	-	$	-	$	-	$	-	$	718,965	
Interest Income	10,000	19,168	5,000	24,168	10,000	
Carry Forward Surplus (1)	1,148,950	798,236	-	798,236	322,988	
TOTAL REVENUES	$ 1,158,950	$	817,404	$	5,000	$	822,404	$ 1,051,953	

EXPENDITURES:						
Interest - 11/1	$	210,365	$	210,365	$	-	$	210,365	$	289,051	
Interest - 5/1	289,051	-	289,051	289,051	289,051	
Principal - 5/1	-	-	-	-	140,000	
TOTAL EXPENDITURES	$	499,416	$	210,365	$	289,051	$	499,416	$	718,103	

Other Sources/(Uses)						

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	499,416	$	210,365	$	289,051	$	499,416	$	718,103	
						
EXCESS REVENUES (EXPENDITURES)	$	659,534	$	607,039	$  (284,051)	$	322,988	$	333,851	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/27

 $	286,076 

AMORTIZATION SCHEDULE
Debt Service Series 2025 Capital Improvement Revenue Bonds

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
						
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	

Approved Budget Capital Reserve Fund

Description

Adopted Budget FY 2026

Actuals Thru	Projected Next  Projected Thru

3/31/26

	6 Months	

9/30/26

Approved Budget FY 2027

REVENUES:

Interest Income

$	100  $

-  $	25  $

25  $

100

Capital Reserve Funding	500,000	-	500,000	500,000	500,000
Carry Forward Balance	428,882	-	428,882	428,882	297,851

TOTAL REVENUES	$	928,982  $	-  $	928,907  $	928,907  $	797,951

EXPENDITURES:

Repair and Replacements

$	10,000  $

11,700  $

5,000  $

16,700  $

10,000

Capital Outlay	150,000	-	358,433	358,433	-
RiverHouse Access Control System (C/S)	5,253	7,249	-	7,249	24,396
RiverHouse Painting (C/S)	31,756	17,332	17,332	34,664	-
RiverHouse Furniture (C/S)	28,016	-	28,016	28,016	- RiverHouse A/C Unit Replacement (C/S)	38,522	-	38,522	38,522	- RiverHouse Tennis Court Fencing (C/S)	28,016	-	28,016	28,016	- RiverHouse Pool Pump Sand Filtration (C/S)	43,775	-	43,775	43,775	- Permanent Holiday Lighting (C/S)	27,316	-	27,316	27,316	-
Playground Equipment (C/S)	7,004	-	7,004	7,004	35,876
Pocket Parks Equipment Repair/Replacement (C/S)	15,531	-	15,531	15,531	16,144
Maintenance Golf Cart (C/S)	3,502	-	3,502	3,502	-
Maintenance Work Truck (C/S)	22,763	21,968	-	21,968	-
Bank Fee	360	-	360	360	360
RiverHouse Pool Operations Equipment (C/S)	-	-	-	-	125,566 RiverHouse Complex Fencing (C/S)	-	-	-	-		21,526
RiverFront Park Dock (C/S)	-	-	-	-	125,566
RiverHouse Patio Furniture (C/S)	-	-	-	-	10,763 RiverHouse Parking Lot Resurfacing (C/S)	-	-	-	-	62,783 RiverTown Blvd. Asphalt Resurfacing (C/S)	-	-	-	-	44,845 NorthLake Park Renovation (C/S)	-	-	-	-	21,526 RiverTown Blvd. Fencing Replacement (C/S)	-	-	-	-	32,288 RiverHouse Basketball Goals (C/S)	-	-	-	-	21,526
RiverFront Park Parking Lot (C/S)	-	-	-	-	28,701 RiverTown Entrance Pump/Filtration (C/S)	-	-	-	-	35,876 Tennis Court Resurfacing (C/S)	-	-	-	-		7,893
Pickleball & Tennis Court Survey (C/S)	-	-	-	-	10,763
RiverClub Expansion Joint (C/S)	-	-	-	-	17,938

TOTAL EXPENDITURES	$	411,814  $	58,250  $	572,807  $	631,057  $	654,336

Other Sources/(Uses)

Transfer in Transfer (Out)

TOTAL OTHER SOURCES/(USES)	$	-
-

$	-	$	-
-

$	-	$	-
-

$	-	$	-
-

$	-	$	-
-

$	-	
						
TOTAL EXPENDITURES	$	411,814	$	58,250	$	572,807	$	631,057	$	654,336	
						
EXCESS REVENUES (EXPENDITURES)	$	517,168	$	(58,250)	$	356,100	$	297,851	$	143,615	

Rivers Edge III
Community Development District
Non-Ad Valorem Assessments Comparison 2026-2027

Neighborhood	O&M Units	
Annual Maintenance Assessments	
	
FY 2027	
FY 2026	
Increase/ (decrease)	

Single Familiy - 40' - 49 Lot	

277	

$2,181.45	

$1,788.07	

$393.37	

22%	
Single Familiy - 50' - 59 Lot	114	$2,675.90	$2,193.36	$482.54	22%	
Single Familiy - 60' - 69 Lot	179	$2,908.59	$2,384.09	$524.50	22%	
Single Familiy - 70' - 79 Lot	21	$3,635.72	$2,980.10	$655.62	22%	
Single Familiy - 80'+ Lot	0	-	-	-	-	
Total	591