Adopted Budget
Fiscal Year 2020

Pine Ridge Plantation Community
Development District

July 30, 2019

Pine Ridge Community Development District

TABLE OF CONTENTS

Summary  Revenues and Expenditures	Page 1-2

Narrative  –  Administrative and Maintenance	Page 3-9

2006A   Debt Service  Fund	Page 10-11

Capital Reserve	Page 12

Pine Ridge Plantation
Community Development District	General Fund

Adopted	Actual YTD		Projected		Projected		Adopted	
 Description		 Budget FY2019 		 	As of 6/30/2019			     Next 3 Months			   Thru 9/30/19 		  Budget FY2020 	
Revenues										
Assessments	$537,569		$545,244		$0		$545,244		$537,569	
Misc. Income/Facility Rental	$3,000		$7,413		$0		$7,413		$3,000	
Interest Earned	$1,500		$9,728		$1,000		$10,728		$1,500	
Carry Forward Surplus	$23,118		$0		$0		$0		$38,580	
Total Revenues	 	$565,187		 	$562,385		 	$1,000		 	$563,385		 	$580,649	
Expenditures										
Administrative										
Supervisors Fees & FICA	$10,334		$5,383		$3,230		$8,612		$10,334	
Engineering	$7,000		$791		$0		$791		$7,000	
Attorney	$20,000		$14,028		$5,972		$20,000		$20,000	
Annual Audit	$3,750		$3,100		$0		$3,100		$3,750	
Assessment Roll	$5,260		$4,260		$0		$4,260		$5,260	
Arbitrage	$1,200		$1,100		$0		$1,100		$1,200	
Trustee	$6,000		$0		$6,000		$6,000		$6,000	
Dissemination	$5,000		$3,750		$1,250		$5,000		$5,000	
Management Fees	$44,290		$33,217		$11,072		$44,290		$44,290	
Computer Time	$1,000		$750		$250		$1,000		$1,000	
Telephone	$350		$243		$107		$350		$350	
Postage	$600		$669		$331		$1,000		$1,000	
Printing & Binding	$1,200		$974		$226		$1,200		$1,200	
Insurance	$7,893		$7,441		$0		$7,441		$7,893	
Legal Advertising	$1,500		$517		$983		$1,500		$1,500	
Other Current Charges	$300		$338		$45		$383		$600	
Website Domain	$1,200		$900		$300		$1,200		$2,400	
Office Supplies	$500		$71		$60		$131		$300	
Dues, Licenses & Subscriptions	$175		$175		$0		$175		$175	
Administrative Expenses	 	$117,552		 	$77,708		 	$29,825		 	$107,532		 	$119,252	
Amenity Center										
Insurance	$8,398		$8,565		$0		$8,565		$9,000	
General Facility Maintenance	$15,000		$8,326		$5,000		$13,326		$15,000	
Repairs & Replacements	$7,500		$9,095		$4,000		$13,095		$15,000	
Recreational Passes	$500		$0		$500		$500		$500	
Postage	$100		$0		$100		$100		$100	
Printing & Email Marketing	$125		$0		$125		$125		$125	
Office Supplies	$700		$579		$121		$700		$700	
Other Current Charges	$250		$0		$0		$0		$250	
Permit Fees	$250		$250		$0		$250		$250	
Contingency	$5,000		$2,056		$2,944		$5,000		$5,000	
Amenity Management	$50,923		$38,192		$12,731		$50,923		$52,451	
Facility Assistant	$24,561		$3,763		$6,000		$9,763		$24,561	
Special Events	$12,000		$12,269		$1,731		$14,000		$12,000	
Preventive Maintenance	$2,500		$802		$898		$1,700		$0	

Pine Ridge Plantation
Community Development District	General Fund

	Adopted		Actual YTD		Projected		Projected		Adopted	
 Description			 Budget FY2019 		 	As of 6/30/2019			     Next 6 Months			   Thru 9/30/19 		  Budget FY2020 	
Utilities											
Water & Sewer		$3,500		$2,562		$900		$3,462		$3,500	
Electric		$23,000		$12,261		$6,000		$18,261		$23,000	
Telephone		$3,000		$1,727		$489		$2,216		$3,000	
Internet		$1,360		$0		$0		$0		$0	
Management Contracts											
Field Management Services	$20,000		$15,000		$5,000		$20,000		$20,700	
Lifeguards	$16,500		$10,053		$6,447		$16,500		$16,500	
Pool Maintenance	$12,500		$9,075		$3,025		$12,100		$12,500	
Pool Chemicals	$11,400		$8,887		$2,992		$11,879		$11,968	
Janitorial Service	$7,740		$5,805		$1,935		$7,740		$7,740	
Janitorial Supplies	$1,200		$933		$600		$1,533		$1,200	
Refuse Service	$4,850		$4,060		$1,614		$5,674		$6,100	
Security	$10,000		$7,523		$2,477		$10,000		$10,000	
Amenity Center Expenses	 	$242,857		 	$161,783		 	$65,629		 	$227,412		 	$251,145	

Grounds Maintenance										
Landscape Maintenance	$100,000		$54,516		$35,800		$90,316		$100,000	
Lake Maintenance	$7,728		$7,164		$1,968		$9,132		$9,300	
Electric	$2,500		$914		$405		$1,319		$2,500	
Water	$39,000		$23,282		$13,800		$37,082		$39,000	
Repairs and Maintenance	$20,000		$11,261		$5,500		$16,761		$20,000	
Contingencies	$550		$2,723		$0		$2,723		$4,451	
Grounds Maintenance Expenses	 	$169,778		 	$99,860		 	$57,473		 	$157,333		 	$175,251	
Capital Reserve	$35,000		$35,000		$0		$35,000		$35,000	
Total Expenses	 	$565,187		 	$374,351		 	$152,927		 	$527,277		 	$580,649	
EXCESS REVENUES/(EXPENSES)	 	$0		 	$188,034 		 	($151,927)		 	$36,107 		 	$0 	
							
FY2019		
FY2020	
Units	742	742	
Gross Assess per Unit	$777	$777	
Net Assess per Unit	$730	$730	
Total Gross Assessment	$571,882	$571,882	
Less: Discounts & Collections (6%)	 	($34,313) 	 	($34,313) 	
Total Net Assessment **	 	$537,569 	$537,569	

Pine Ridge Plantation
Community Development District
GENERAL FUND BUDGET
Fiscal Year 2020

REVENUES:

Maintenance Assessments
The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay all of the operating expenses for the Fiscal Year in accordance with the adopted budget.

Misc. Income/Facility Rental Fees

Includes replacement key deposits and income from residents for rental of facilities for personal use.

Interest Earned
Maintenance Assessment income of the District will be invested in accordance with Florida Statutes and the investment guidelines approved by the Board of Supervisors.

EXPENDITURES:
Administrative:

Supervisor Fees/FICA

The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year. The amount for the fiscal year is based upon all five supervisors attending the estimated 12 annual meetings. The FICA represents the Employer’s share of Social Security and Medicare taxes withheld from Board of Supervisors checks.

Engineering
The District's engineering firm, England, Thims & Miller, Inc., will be providing general engineering services to the District, including attendance and preparation for monthly board meetings, review invoices, etc.

Attorney
The District's legal counsel, Hopping Green & Sams, will be providing general legal services to the District, including attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Pine Ridge Plantation
Community Development District
GENERAL FUND BUDGET
Fiscal Year 2020

Assessment Roll

The District contracts with Governmental Management Services, LLC for the certifications of the District’s annual maintenance and debt service assessments to the County Tax Collector and collection of Direct Assessments.

Arbitrage
The District is required to have an Arbitrage Rebate Calculation on the District’s Series 2006 A/B Capital Improvement Revenue Bonds.

Trustee
The District’s Series 2006 A/B Capital Improvement Revenue Bonds are held by a Trustee at U.S. Bank.  The amount represents the fee for the administration of the District’s bond issue.

Dissemination Agent
The District has contracted with GMS, LLC, to act as the Dissemination Agent for the District to prepare the Annual Disclosure Report required by the Security and Exchange Commission in order to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC.

Computer Time
The District processes all of its financial activities, including accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services, LLC.

Telephone
This item includes the cost of a telephone and fax machine.

Postage
This item includes mailing of agenda packages, overnight deliveries, correspondence, etc.

Printing & Binding
Printing and Binding agenda packages for board meetings, printing of checks, stationary, envelopes etc.

Insurance
The District's General Liability & Public Officials Liability Insurance policy is with Preferred Governmental Insurance Trust. PGIT specializes in providing insurance coverage to governmental agencies.

Pine Ridge Plantation
Community Development District
GENERAL FUND BUDGET
Fiscal Year 2020

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings etc in the Florida Times Union.

Other Current Charges
Bank charges and any other miscellaneous expenses incurred during the year.

Website Domain

Per Chapter 2014-22, Laws of Florida, all Districts must have a website by October 1, 2015 to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS, LLC and updated monthly.

Office Supplies
This item includes the cost of miscellaneous office supplies.

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Amenity Center

Insurance
The  District's  Property  Insurance  policy  will  be  with  Preferred  Governmental Insurance Trust.	PGIT specializes in providing insurance coverage to governmental agencies.

General Facility Maintenance
Cost of routine repairs and maintenance of the District’s common areas and Amenity Center.

Repairs and Replacements

Represents any funds that will be used to make repairs and replacements to facility or equipment in the District Amenity Center

Recreation Passes
Represents the estimated cost for access cards to the District’s Amenity Center.

Postage
This item includes mailing of newsletter to residents.

Pine Ridge Plantation
Community Development District
GENERAL FUND BUDGET
Fiscal Year 2020

Printing & Email Marketing
Includes costs of publishing newsletter and other mailings/emails associated with the amenity center.

Office Supplies
This item includes the cost of office supplies needed for the operation of the amenity center.

Other Current Charges
Any unanticipated costs to the amenity center

Permit Fees
Represents Permit Fees paid to the Department of Health for the swimming pool.

Contingency
This item includes a contingency for any unanticipated and unscheduled cost to the District.

Amenity Management
Services provided by Riverside Management Services, Inc. to provide management services of amenity center.

Facility Assistant

Services provided by Riverside Management Services, Inc. to provide part time staffing of amenity center.

Special Events
This item represents the estimated cost for the District to host any special events for the community throughout the Fiscal Year.

Utilities:
Water
District currently has one account with CCUA for water at the Amenity Center. Budget includes growth for additional use and new accounts.

Account #	
Service Address	
Monthly	
Annual	
257235	4200 Pine Ridge Pkwy Amenity	$280	$3,360	
	Contingency		$140	
			$3,500	

Pine Ridge Plantation
Community Development District
GENERAL FUND BUDGET
Fiscal Year 2020

Electric

District currently has one account with Clay Electric for electric at the Amenity Center. Budget includes growth for additional use and new accounts.

Account #	Service Address	Monthly	Annual	
7808611	4200 Pine Ridge/Amenity	$1,667	$20,000	
	Contingency		$3,000	
			$23,000	

Telephone
Telephone and fax machine

Internet

Cost of internet services used for the Amenity Center.

Management Contracts

Field Management Services
The District has contracted with Riverside Management Services, Inc. for the supervision and on-site management of Pine Ridge Plantation.

Lifeguards
The District has contracted with Riverside Management Services, Inc. to provide lifeguard services during pool operation season.

Pool Maintenance
The District has contracted with Riverside Management Services, Inc. to provide pool cleaning and maintenance services. Monthly service is $1,008.33 for two cleanings, plus the cost of chemicals. During summer months, cleanings may be increased to three times a week.

Pool Chemicals

Poolsure will provide the necessary chemicals for the Amenity Center pool.

Janitorial Service
The District has contracted with Riverside Management Services to provide janitorial services for the Amenity Center.

Janitorial Supplies

All supplies needed for janitorial services.

Pine Ridge Plantation
Community Development District
GENERAL FUND BUDGET
Fiscal Year 2020

Refuse Service

This item includes the cost of garbage disposal for the District.

Security
The District employs off-duty officers through the Clay County Sheriff’s Office to provide security services for the District.

Grounds Maintenance:

Landscape Maintenance
The District has contracted with R&D Landscape & Irrigation to provide landscaping services to all the common areas within the District. The current contract is $7,160.00 per month.

Lake Maintenance
The District has contracted with The Lake Doctors to perform monthly service to include inspections and treats as necessary for the control and prevention of aquatic weeds and algae.

Electric
The District currently has the following accounts with Clay Electric.

Account #	
Service Address	Monthly Average	Annual Average	
8824799	4201-1 Pine Ridge Pkwy #1 Irrig Clock	$33	$396	
8824808	1217-1 Camp Ridge Land	$32	$387	
7371685	4392-1 Pine Ridge Park - Irrigation	$55	$298	
8824805	1452-2 Tynes Blvd - Entrance	$55	$659	
8837872	1484 Tynes Blvd #2 Irrig Clock/Sign	$50	$595	
	Contingency		$165	
			$2,500	

Pine Ridge Plantation
Community Development District
GENERAL FUND BUDGET
Fiscal Year 2020

Water

The District currently has the following accounts with CCUA. Budget includes growth for additional use and new accounts.

Account #	
Service Address	Monthly Average	Annual Average	
246892	1376-1 Tynes Blvd Reclaimed	$124	$1,484	
246893	1475-1 Tyne Blvd Reclaimed	$804	$9,642	
248250	4228-1 Pine Ridge Pkwy Reclaimed	$421	$5,056	
	4354-1 Foggy Day Dr Reclaimed			
248496	Irrigation	$191	$2,295	
248497	4421-1 Pine Ridge Pkwy Reclaimed	$181	$2,172	
248498	4688-1 Pine Lake Dr Reclaimed	$35	$420	
248499	4201-2 Pine Ridge Pkwy Irrigation	$44	$527	
257236	4200-1 Pine Ridge Pkwy Irrigation	$157	$1,885	
260144	4200 Pine Ridge Pkwy Reclaimed	$207	$2,479	
	Contingency		$13,040	
			$39,000	

Repair & Maintenance
Regular maintenance and replacement.

Contingencies
This item includes a contingency for any unanticipated and unscheduled cost to the District.

Capital Reserve
The District has established a Capital Reserve to fund renewal and replacement of the District’s capital related facilities and equipment.

Pine Ridge Plantation
Community Development District					
Debt Service Fund	
					Series 2006A	

 Description		Adopted
Budget FY2019	Actual YTD
As of 6/30/2019	Projected
Next 3 Months	Projected
Thru 9/30/19	Adopted
Budget FY2020	

Revenues						
Assessments - Tax Roll	$727,641	$943,980	$0	$943,980	$935,455	
Interest Income	$3,000	$21,200	$5,640	$26,840	$3,000	
Fund Balance	$233,914	$492,569	$0	$492,569	$466,287	
Total Revenues	$964,555	$1,457,749	$5,640	$1,463,389	$1,404,741	

Expenditures						
Interest 11/1	$297,810	$297,810	$0	$297,810	$287,820	
Principal 5/1	$340,000	$340,000	$0	$340,000	$360,000	
Interest 5/1	$297,810	$297,819	$0	$297,819	$287,820	
Prepayment 5/1	$0	$30,000	$0	$30,000	$0	
Interest 5/1	$0	$9	$0	$9	$0	
Total Expenses	$935,620	$965,638	$0	$965,638	$935,640	

Other Bond Service Costs	
$0	
($31,465)	
$0	
($31,465)	
$0	
EXCESS REVENUES / (EXPENDITURES)	$28,935	$460,647	$5,640	$466,287	$469,101	

Interest Expense - 11/1/20	$278,100

Pine Ridge Plantation		Amortization Schedule Community Development District	Series 2006A, Capital Improvement Revenue Bonds

 	DATE		 	BALANCE		 	RATE		 	PRINCIPAL		 	INTEREST	 	TOTAL	

11/01/19
05/01/20
11/01/20
05/01/21
11/01/21
05/01/22
11/01/22
05/01/23
11/01/23
05/01/24
11/01/24
05/01/25
11/01/25
05/01/26
11/01/26
05/01/27
11/01/27
05/01/28
11/01/28
05/01/29
11/01/29
05/01/30
11/01/30
05/01/31
11/01/31
05/01/32
11/01/32
05/01/33
11/01/33
05/01/34

$    10,660,000
$    10,660,000
$    10,300,000
$    10,300,000
$	9,920,000
$	9,920,000
$	9,520,000
$	9,520,000
$	9,095,000
$	9,095,000
$	8,650,000
$	8,650,000
$	8,180,000
$	8,180,000
$	7,680,000
$	7,680,000
$	7,155,000
$	7,155,000
$	6,600,000
$	6,600,000
$	6,015,000
$	6,015,000
$	5,395,000
$	5,395,000
$	4,745,000
$	4,745,000
$	4,055,000
$	4,055,000
$	3,330,000
$	3,330,000

5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%
5.40%

$	-	$
$	360,000.00	$
$	-	$
$	380,000.00	$
$	-	$
$	400,000.00	$
$	-	$
$	425,000.00	$
$	-	$
$	445,000.00	$
$	-	$
$	470,000.00	$
$	-	$
$	500,000.00	$
$	-	$
$	525,000.00	$
$	-	$
$	555,000.00	$
$	-	$
$	585,000.00	$
$	-	$
$	620,000.00	$
$	-	$
$	650,000.00	$
$	-	$
$	690,000.00	$
$	-	$
$	725,000.00	$
$	-	$
$	765,000.00	$

287,820.00	$
287,820.00
278,100.00	$
278,100.00
267,840.00	$
267,840.00
257,040.00	$
257,040.00
245,565.00	$
245,565.00
233,550.00	$
233,550.00
220,860.00	$
220,860.00
207,360.00	$
207,360.00
193,185.00	$
193,185.00
178,200.00	$
178,200.00
162,405.00	$
162,405.00
145,665.00	$
145,665.00
128,115.00	$
128,115.00
109,485.00	$
109,485.00
89,910.00	$
89,910.00

287,820.00

925,920.00

925,940.00

924,880.00

927,605.00

924,115.00

924,410.00

928,220.00

925,545.00

926,385.00

925,605.00

928,070.00

923,780.00

927,600.00

924,395.00

11/01/34	$	2,565,000	5.40%	$	-	$	69,255.00	$	924,165.00	
05/01/35	$	2,565,000	5.40%	$	810,000.00	$	69,255.00		
11/01/35	$	1,755,000	5.40%	$	-	$	47,385.00	$	926,640.00	
05/01/36	$	1,755,000	5.40%	$	855,000.00	$	47,385.00		
11/01/36	$	900,000	5.40%	$	-	$	24,300.00	$	926,685.00	
 	05/01/37		$	900,000	5.40%	  $	900,000.00	$	24,300.00	$	924,300.00 	
 	Total				  $	10,660,000.00	$	6,292,080.00	$	16,952,080.00 	

Pine Ridge Plantation
Community Development District					
Capital Reserve	

 Description		Adopted
Budget FY2019	Actual YTD
As of 6/30/2019	Projected
Next 3 Months	Projected
Thru 9/30/19	Adopted
Budget FY2020	

Revenues						
Capital Reserve - Transfer In	$35,000	$35,000	$0	$35,000	$35,000	
Carry Forward Surplus	$327,493	$299,310	$0	$299,310	$316,589	
Total Revenues	$362,493	$334,310	$0	$334,310	$351,589	

Expenditures

Maintenance Reserves	$0	$17,721	$0	$17,721	$20,000	
Total Expenses	$0	$17,721	$0	$17,721	$20,000	
						
EXCESS REVENUES / (EXPENDITURES)	$362,493	$316,589	$0	$316,589	$331,589