Rivers Edge III

Community Development District

Adopted Budget
FY 2027

Presented by:

Table of Contents

3-4

5-9

10-11

12-13

14-15

16

	General Fund

	Narratives

	Debt Service Fund Series 2021

	Debt Service Fund Series 2024

	Debt Service Fund Series 2025

	Capital Reserve Fund

17		Assessment Schedule

REVENUES:		
Special Assessments - Tax Roll	$	1,101,765	$	1,156,910	$	3,682	$	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	-	1,449,115	1,449,115	1,040,048	
Cost Share Landscaping Rivers Edge II	186,679	140,009	46,670	186,679	74,126	
Special Events	1,000	-	1,000	1,000	1,000	
Interest Revenue	2,000	11,698	1,500	13,198	2,000	
Miscellaneous Income	500	102	398	500	500	
Insurance Proceeds	-	2,380	-	2,380	-	
TOTAL REVENUES	$ 3,032,773	$ 1,974,835	$ 1,576,860	$ 3,551,695	$ 3,197,332	

EXPENDITURES:						
Administrative						
District Engineer	$	15,000	$	10,750	$	4,250	$	15,000	$	20,000	
District Counsel	30,000	20,995	9,005	30,000	35,000	
District Management	33,034	24,775	8,258	33,034	35,000	
Assessment Roll Administration	5,899	5,899	-	5,899	6,250	
Dissemination Agent	4,129	3,288	841	4,129	4,500	
Information Technology	1,416	1,062	354	1,416	1,500	
Website Administration	2,124	1,593	531	2,124	2,250	
Website Maintenance	800	800	-	800	800	
Annual Audit	6,800	6,800	-	6,800	6,900	
Trustee Fees	6,600	9,251	3,750	13,001	8,900	
Arbitrage Rebate	600	450	600	1,050	1,500	
Telephone	150	26	124	150	150	
Postage & Delivery	500	901	425	1,326	1,000	
Printing & Binding	1,000	221	779	1,000	1,000	
Insurance General Liability	6,932	6,530	-	6,530	7,183	
Legal Advertising	2,000	274	1,726	2,000	2,000	
Other Current Charges	1,750	231	1,519	1,750	1,750	
Office Supplies	50	4	46	50	50	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$	118,958	$	94,025	$	32,208	$	126,233	$	135,908	

Operations & Maintenance						
Grounds Maintenance						
Field Operations Management (Vesta)	$	41,230	$	30,922	$	10,307	$	41,230	$	43,294	
Landscape Maintenance	869,028	748,350	490,113	1,238,463	1,021,317	
Landscape Maintenance New Units	85,000	-	85,000	85,000	85,000	
Landscape Contingency	100,000	258,808	-	258,808	100,000	
Irrigation Repairs and Maintenance	65,000	40,073	15,000	55,073	65,000	
Lake Maintenance	40,360	26,710	13,650	40,360	40,360	
Irrigation Water Use	243,090	160,940	90,000	250,940	243,307	
Electric	51,500	4,044	1,500	5,544	7,046	
Street Lighting	10,000	-	2,000	2,000	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	$ 1,279,347	$	711,070	$ 1,990,418	$ 1,628,323	

Amenity Center						
Cost Share Amenity - Rivers Edge	$	109,345	$	82,009	$	27,336	$	109,345	$	79,995	
General Manager (Vesta)	48,911	37,981	10,930	48,911	51,354	
Amenity Manager (Vesta)	53,680	40,260	13,420	53,680	56,588	
Maintenance Service (Vesta)	109,264	81,948	27,316	109,264	115,761	
Lifestyle Director (Vesta)	45,426	34,070	11,357	45,426	47,792	
Lifeguards (Vesta)	58,043	18,725	39,318	58,043	62,078	
Guest Services (Vesta)	66,861	50,146	16,715	66,861	71,511	
Janitorial (Vesta)	34,833	26,125	8,708	34,833	36,904	
Security Monitoring	1,800	3,241	-	3,241	1,800	
Security Guards	25,000	-	-	-	-	
Internet & Cable	17,000	9,525	3,000	12,525	15,600	
Insurance	87,147	80,103	-	80,103	75,792	
Fitness Equipment Lease	68,896	51,672	17,224	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	20,577	5,000	25,577	40,000	
Natural Gas	500	883	330	1,213	1,320	
Electric	20,000	39,340	15,000	54,340	57,000	
Water & Sewer	17,000	13,806	12,000	25,806	25,111	
Amenity Repairs and Replacement	35,000	51,939	15,000	66,939	50,000	
Refuse	15,000	13,841	4,800	18,641	19,200	
Pest Control	3,600	2,166	1,434	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	1,451	349	1,800	1,800	
Special Events	30,000	2,975	27,025	30,000	30,000	
Holiday Decorations	10,000	-	5,000	5,000	10,000	
Office Supplies & Postage	1,500	-	1,500	1,500	1,500	
Capital Expenditures	5,500	-	-	-	-	
TOTAL AMENITY CENTER	$	895,607	$	663,212	$	271,832	$	935,044	$	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	$ 2,036,584	$ 1,515,111	$ 3,551,695	$ 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)	$	-	$	(61,750)	$	61,750	$	-	$	-	

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 District has contracted with Grau & Associates to conduct this annual audit, with the budgeted amount representing the estimated cost.
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.

Adopted Budget
Debt Service Series 2021 Capital Improvement Revenue Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY 2026	6/30/26		3 Months		9/30/26	FY 2027	

REVENUES:							

Special Assessments - Tax Roll	
$	552,665	
$	548,834	
$	1,747	
$	550,581	
$	552,665	
Interest Income	10,000	20,021	1,500	21,521	10,000	
Carry Forward Surplus (1)	255,152	265,927	-	265,927	274,774	
TOTAL REVENUES	$	817,817	$	834,782	$	3,247	$	838,029	$	837,439	

EXPENDITURES:						
Interest - 11/1	$	164,178	$	164,178	$	-	$	164,178	$	161,250	
Principal Prepayment - 11/1	-	5,000	-	5,000	-	
Interest - 5/1	164,178	164,078	-	164,078	161,250	
Principal - 5/1	220,000	220,000	-	220,000	225,000	
Principal Prepayment - 5/1	-	5,000	-	5,000	-	
Principal Prepayment - 8/1	-	-	5,000	5,000	-	
TOTAL EXPENDITURES	$	548,355	$	558,255	$	5,000	$	563,255	$	547,500	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	548,355	$	558,255	$	5,000	$	563,255	$	547,500	
						
EXCESS REVENUES (EXPENDITURES)	$	269,462	$	276,527	$	(1,753)	$	274,774	$	289,939	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/27

 $	157,875 

AMORTIZATION SCHEDULE
Debt Service Series 2021 Capital Improvement Revenue Bonds

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
						
11/01/26	8,745,000	3.000%		161,250		
05/01/27	8,745,000	3.000%	225,000	161,250	547,500	
11/01/27	8,520,000	3.000%		157,875		
05/01/28	8,520,000	3.000%	230,000	157,875	545,750	
11/01/28	8,290,000	3.000%		154,425		
05/01/29	8,290,000	3.000%	240,000	154,425	548,850	
11/01/29	8,050,000	3.000%		150,825		
05/01/30	8,050,000	3.000%	245,000	150,825	546,650	
11/01/30	7,805,000	3.000%		147,150		
05/01/31	7,805,000	3.000%	255,000	147,150	549,300	
11/01/31	7,550,000	3.500%		143,325		
05/01/32	7,550,000	3.500%	260,000	143,325	546,650	
11/01/32	7,290,000	3.500%		138,775		
05/01/33	7,290,000	3.500%	270,000	138,775	547,550	
11/01/33	7,020,000	3.500%		134,050		
05/01/34	7,020,000	3.500%	280,000	134,050	548,100	
11/01/34	6,740,000	3.500%		129,150		
05/01/35	6,740,000	3.500%	290,000	129,150	548,300	
11/01/35	6,450,000	3.500%		124,075		
05/01/36	6,450,000	3.500%	300,000	124,075	548,150	
11/01/36	6,150,000	3.500%		118,825		
05/01/37	6,150,000	3.500%	310,000	118,825	547,650	
11/01/37	5,840,000	3.500%		113,400		
05/01/38	5,840,000	3.500%	320,000	113,400	546,800	
11/01/38	5,520,000	3.500%		107,800		
05/01/39	5,520,000	3.500%	335,000	107,800	550,600	
11/01/39	5,185,000	3.500%		101,938		
05/01/40	5,185,000	3.500%	345,000	101,938	548,875	
11/01/40	4,840,000	3.500%		95,900		
05/01/41	4,840,000	3.500%	360,000	95,900	551,800	
11/01/41	4,480,000	4.000%		89,600		
05/01/42	4,480,000	4.000%	370,000	89,600	549,200	
11/01/42	4,110,000	4.000%		82,200		
05/01/43	4,110,000	4.000%	385,000	82,200	549,400	
11/01/43	3,725,000	4.000%		74,500		
05/01/44	3,725,000	4.000%	405,000	74,500	554,000	
11/01/44	3,320,000	4.000%		66,400		
05/01/45	3,320,000	4.000%	420,000	66,400	552,800	
11/01/45	2,900,000	4.000%		58,000		
05/01/46	2,900,000	4.000%	435,000	58,000	551,000	
11/01/46	2,465,000	4.000%		49,300		
05/01/47	2,465,000	4.000%	455,000	49,300	553,600	
11/01/47	2,010,000	4.000%		40,200		
05/01/48	2,010,000	4.000%	475,000	40,200	555,400	
11/01/48	1,535,000	4.000%		30,700		
05/01/49	1,535,000	4.000%	490,000	30,700	551,400	
11/01/49	1,045,000	4.000%		20,900		
05/01/50	1,045,000	4.000%	510,000	20,900	551,800	
11/01/50	535,000	4.000%		10,700		
05/01/51	535,000	4.000%	535,000	10,700	556,400	
Total		$	8,745,000  $	5,002,525	$  13,747,525	

Adopted Budget
Debt Service Series 2024 Capital Improvement Revenue Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY 2026	6/30/26		3 Months		9/30/26	FY 2027	

REVENUES:							

Special Assessments - Tax Roll	
$	67,018	
$	62,255	
$	4,763	
$	67,018	
$	62,454	
Special Assessments - Direct Bill	628,501	628,501	-	628,501	628,501	
Prepayments	-	36,465	-	36,465	-	
Interest Income	10,000	18,589	1,000	19,589	10,000	
Carry Forward Surplus (1)	334,797	344,541	-	344,541	291,320	
TOTAL REVENUES	$ 1,040,316	$ 1,090,351	$	5,763	$  1,096,114	$	992,274	

EXPENDITURES:						
Interest - 11/1	$	281,849	$	281,849	$	-	$	281,849	$	277,285	
Principal Prepayment - 11/1	-	5,000	-	5,000	-	
Interest - 5/1	281,849	281,700	-	281,700	277,285	
Principal - 5/1	130,000	130,000	-	130,000	140,000	
Principal Prepayment - 5/1	-	5,000	-	5,000	-	
Principal Prepayment - 8/1	-	-	40,000	40,000	-	
TOTAL EXPENDITURES	$	693,698	$	703,549	$	40,000	$	743,549	$	694,570	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$	-	
$	(61,245)	
$	-	
$	(61,245)	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	(61,245)	$	-	$	(61,245)	$	-	
						
TOTAL EXPENDITURES	$	693,698	$	764,794	$	40,000	$	804,794	$	694,570	
						
EXCESS REVENUES (EXPENDITURES)	$	346,619	$	325,557	$	(34,237)	$	291,320	$	297,704	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/27

 $	273,925 

AMORTIZATION SCHEDULE
Debt Service Series 2024 Capital Improvement Revenue Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/26	9,635,000	4.800%	-	277,285	277,285	
05/01/27	9,635,000	4.800%	140,000	277,285		
11/01/27	9,495,000	4.800%	$	-	273,925	691,210	
05/01/28	9,495,000	4.800%	145,000	273,925		
11/01/28	9,350,000	4.800%	-	270,445	689,370	
05/01/29	9,350,000	4.800%	150,000	270,445		
11/01/29	9,200,000	4.800%	-	266,845	687,290	
05/01/30	9,200,000	4.800%	160,000	266,845		
11/01/30	9,040,000	4.800%	-	263,005	689,850	
05/01/31	9,040,000	4.800%	170,000	263,005		
11/01/31	8,870,000	4.800%	-	258,925	691,930	
05/01/32	8,870,000	5.650%	175,000	258,925		
11/01/32	8,695,000	5.650%	-	253,981	687,906	
05/01/33	8,695,000	5.650%	185,000	253,981		
11/01/33	8,510,000	5.650%	-	248,755	687,736	
05/01/34	8,510,000	5.650%	200,000	248,755		
11/01/34	8,310,000	5.650%	-	243,105	691,860	
05/01/35	8,310,000	5.650%	210,000	243,105		
11/01/35	8,100,000	5.650%	-	237,173	690,278	
05/01/36	8,100,000	5.650%	220,000	237,173		
11/01/36	7,880,000	5.650%	-	230,958	688,130	
05/01/37	7,880,000	5.650%	235,000	230,958		
11/01/37	7,645,000	5.650%	-	224,319	690,276	
05/01/38	7,645,000	5.650%	250,000	224,319		
11/01/38	7,395,000	5.650%	-	217,256	691,575	
05/01/39	7,395,000	5.650%	265,000	217,256		
11/01/39	7,130,000	5.650%	-	209,770	692,026	
05/01/40	7,130,000	5.650%	280,000	209,770		
11/01/40	6,850,000	5.650%	-	201,860	691,630	
05/01/41	6,850,000	5.650%	295,000	201,860		
11/01/41	6,555,000	5.650%	-	193,526	690,386	
05/01/42	6,555,000	5.650%	310,000	193,526		
11/01/42	6,245,000	5.650%	-	184,769	688,295	
05/01/43	6,245,000	5.650%	330,000	184,769		
11/01/43	5,915,000	5.650%	-	175,446	690,215	
05/01/44	5,915,000	5.650%	350,000	175,446		
11/01/44	5,565,000	5.650%	-	165,559	691,005	
05/01/45	5,565,000	5.950%	370,000	165,559		
11/01/45	5,195,000	5.950%	-	154,551	690,110	
05/01/46	5,195,000	5.950%	390,000	154,551		
11/01/46	4,805,000	5.950%	-	142,949	687,500	
05/01/47	4,805,000	5.950%	415,000	142,949		
11/01/47	4,390,000	5.950%	-	130,603	688,551	
05/01/48	4,390,000	5.950%	440,000	130,603		
11/01/48	3,950,000	5.950%	-	117,513	688,115	
05/01/49	3,950,000	5.950%	470,000	117,513		
11/01/49	3,480,000	5.950%	-	103,530	691,043	
05/01/50	3,480,000	5.950%	495,000	103,530		
11/01/50	2,985,000	5.950%	-	88,804	687,334	
05/01/51	2,985,000	5.950%	530,000	88,804		
11/01/51	2,455,000	5.950%	-	73,036	691,840	
05/01/52	2,455,000	5.950%	560,000	73,036		
11/01/52	1,895,000	5.950%	-	56,376	689,413	
05/01/53	1,895,000	5.950%	595,000	56,376		
11/01/53	1,300,000	5.950%	-	38,675	690,051	
05/01/54	1,300,000	5.950%	630,000	38,675		
11/01/54	670,000	5.950%	-	19,933	688,608	
05/01/55	670,000	5.950%	670,000	19,933		
9/18/2055		5.950%	-	$-	689,932.50	
Total			$	9,635,000	$  10,645,750	$  20,280,750	

Adopted Budget
Debt Service Series 2025 Capital Improvement Revenue Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY 2026	6/30/26		3 Months		9/30/26	FY 2027	

REVENUES:							

Special Assessment	
$	-	
$	-	
$	-	
$	-	
$	718,965	
Interest Income	10,000	26,852	1,000	27,852	10,000	
Carry Forward Surplus (1)	1,148,950	798,236	-	798,236	326,672	
TOTAL REVENUES	$ 1,158,950	$	825,088	$	1,000	$	826,088	$ 1,055,637	

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	$	499,416	$	-	$	499,416	$	718,103	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	499,416	$	499,416	$	-	$	499,416	$	718,103	
						
EXCESS REVENUES (EXPENDITURES)	$	659,534	$	325,672	$	1,000	$	326,672	$	337,534	

(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	

Adopted Budget Capital Reserve Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY 2026	6/30/26		3 Months		9/30/26	FY 2027	

REVENUES:						
Interest Income	$	100	$	16	$	25	$	41	$	100	
Capital Reserve Funding	500,000	-	500,000	500,000	500,000	
Carry Forward Balance	428,882	229,722	-	229,722	92,656	
TOTAL REVENUES	$	928,982	$	229,738	$	500,025	$	729,763	$	592,756	

EXPENDITURES:						
Repair and Replacements	$	10,000	$	17,750	$	5,000	$	22,750	$	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	-	
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 Patio Furniture (C/S)	-	-	-	-	10,763	
RiverTown Blvd. Asphalt Resurfacing (C/S)	-	-	-	-	44,845	
NorthLake Park Renovation (C/S)	-	-	-	-	21,526	
RiverTown Blvd. Fencing Replacement (C/S)	-	-	-	-	32,288	
RiverFront Park Parking Lot (C/S)	-	-	-	-	28,701	
RiverTown Entrance Pump/Filtration (C/S)	-	-	-	-	35,876	
Tennis Court Resurfacing (C/S)	-	-	-	-	7,893	
RiverClub Expansion Joint (C/S)	-	-	-	-	17,938	
TOTAL EXPENDITURES	$	411,814	$	64,300	$	572,807	$	637,107	$	250,730	

Other Sources/(Uses)

Transfer in	$	-	$	50,000	$	-	$	50,000	$	-	
Transfer (Out)	-	(50,000)	-	$	(50,000)	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	411,814	$	64,300	$	572,807	$	637,107	$	250,730	
						
EXCESS REVENUES (EXPENDITURES)	$	517,168	$	165,438	$	(72,782)	$	92,656	$	342,026	

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