Adopted Budget
Fiscal Year 2023

Pine Ridge Plantation Community
Development District

August 2, 2022

Pine Ridge Plantation
Community Development District

TABLE OF CONTENTS

Summary  Revenues and Expenditures	Page 1-2

Narrative – Administrative and Maintenance	Page 3-10

2020 A1 and A2 Debt Service Fund	Page 11-13

Capital Reserve	Page 14

Pine Ridge Plantation

Community Development District			General Fund	
Adopted	Actual YTD	Projected	Projected	Adopted	
Description	Budget FY2022	As of 6/30/2022	Next 3 Months	Thru 9/30/22	Budget FY2023	

Revenues						
Assessments	$538,283	$539,572	$0	$539,572	$681,433	
Misc. Income/Facility Rental	$3,000	$7,959	$3,350	$11,309	$3,000	
Interest Earned	$600	$1,071	$1,050	$2,121	$600	
Carry Forward Surplus	$43,187	$0	$0	$0	$0	
Total Revenues	$585,070	$548,601	$4,400	$553,001	$685,033	

Expenditures						
Administrative						
Supervisors Fees & FICA	$10,334	$7,320	$1,077	$8,397	$10,334	
Engineering	$7,000	$1,519	$3,894	$5,413	$7,000	
Attorney	$20,000	$4,709	$5,522	$10,231	$20,000	
Annual Audit	$3,100	$3,175	$0	$3,175	$3,175	
Assessment Roll	$5,260	$5,260	$0	$5,260	$5,260	
Arbitrage	$1,200	$1,200	$0	$1,200	$1,200	
Trustee	$6,000	$4,041	$0	$4,041	$6,000	
Dissemination	$5,000	$3,750	$1,250	$5,000	$5,000	
Management Fees	$46,505	$34,879	$11,626	$46,505	$48,830	
Information Technology	$1,200	$900	$300	$1,200	$1,400	
Telephone	$350	$291	$150	$441	$500	
Postage	$1,000	$495	$505	$1,000	$1,000	
Printing & Binding	$1,200	$1,004	$1,094	$2,098	$1,200	
Insurance	$8,810	$8,290	$0	$8,290	$9,948	
Legal Advertising	$2,500	$560	$883	$1,443	$2,500	
Other Current Charges	$600	$292	$30	$322	$600	
Website Maintenance	$1,200	$900	$300	$1,200	$1,200	
Office Supplies	$300	$17	$100	$117	$300	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Administrative Expenses	$121,734	$78,776	$26,731	$105,507	$125,623	

Amenity Center						
Insurance	$10,902	$10,258	$0	$10,258	$12,310	
General Facility Maintenance	$15,000	$10,238	$5,240	$15,478	$17,000	
Repairs & Replacements	$15,000	$13,534	$10,549	$24,083	$25,000	
Recreational Passes	$500	$0	$500	$500	$500	
Postage	$100	$0	$0	$0	$100	
Printing & Email Marketing	$125	$0	$0	$0	$125	
Office Supplies	$700	$395	$0	$395	$700	
Other Current Charges	$250	$0	$0	$0	$250	
Permit Fees	$250	$250	$250	$500	$250	
Contingency	$5,000	$459	$1,000	$1,459	$5,000	
Special Events	$12,000	$11,805	$195	$12,000	$15,000	
Refuse Service	$7,200	$6,456	$2,335	$8,790	$9,600	
Security	$10,000	$5,225	$2,922	$8,147	$12,500	
Gate Monitor	$6,146	$0	$3,073	$3,073	$6,146	

Pine Ridge Plantation
Community Development District	General Fund

	Adopted	Actual YTD	Projected	Projected	Adopted	
Description	Budget FY2022	As of 6/30/2022	Next 3 Months	Thru 9/30/22	Budget FY2023	

Utilities						
Water & Sewer	$4,500	$2,886	$1,125	$4,011	$4,500	
Electric	$23,000	$11,943	$6,872	$18,815	$23,000	
Cable/Phone/Internet	$3,720	$2,865	$978	$3,843	$4,200	
Management Contracts						
Amenity Management	$57,277	$42,958	$14,319	$57,277	$61,859	
Facility Assistant	$19,489	$4,275	$15,214	$19,489	$19,489	
Field Management Services	$22,388	$16,791	$5,597	$22,388	$24,179	
Lifeguards	$17,790	$6,433	$11,357	$17,790	$19,080	
Pool Maintenance	$12,500	$9,375	$3,125	$12,500	$13,500	
Pool Chemicals	$12,306	$9,981	$3,622	$13,603	$16,159	
Janitorial Service	$8,127	$6,095	$2,032	$8,127	$8,777	
Janitorial Supplies	$3,200	$2,680	$800	$3,480	$4,000	
Holiday Decorations	$0	$263	$937	$1,200	$1,200	
Amenity Center Expenses	$267,470	$175,165	$91,104	$266,007	$303,225	

Grounds Maintenance						
Landscape Maintenance	$100,000	$71,314	$28,877	$100,190	$126,000	
Lake Maintenance	$9,300	$8,447	$2,666	$11,112	$12,930	
Electric	$2,500	$1,223	$401	$1,624	$2,500	
Water	$35,000	$14,541	$4,800	$19,341	$26,000	
Repairs and Maintenance	$20,000	$9,103	$5,297	$14,400	$20,000	
Irrigation Repairs	$0	$2,491	$1,000	$3,491	$3,500	
Contingencies	$4,451	$0	$2,226	$2,226	$4,451	
Grounds Maintenance Expenses	$171,251	$107,117	$45,266	$152,384	$195,381	

Capital Reserve	
$24,614	
$0	
$24,614	
$24,614	
$60,805	
Total Expenses	$585,070	$361,059	$187,716	$548,511	$685,033	
						
EXCESS REVENUES/(EXPENSES)	$0	$187,543	($183,316)	$4,490	$0	

FY2022	

FY2023		
Units	737	737	$ Increase 	
Gross Assess per Unit	$777	$984	$207	
Net Assess per Unit	$730	$925		
Total Gross Assessment	$572,642	$724,931	% Increase 	
Less: Discounts & Collections (6%)		($34,359) 		($43,496) 	27%	
Total Net Assessment **		$538,283 		$681,433 		

Community Development District General Fund Budget
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, Kutak Rock LLP, 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.

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 2020A1 and A2 Capital Improvement Revenue Bonds.

Trustee
The District’s Series 2020 A1 and A2 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.

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.

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.

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. Also includes service fee to provide revised amortization schedule by Disclosure Services.

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.

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.

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.

Vendor	Monthly	Annual	
Riverside Management Services	$5,155	$61,859	

Facility Assistant

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

Vendor	Monthly	Annual	
Riverside Management Services	$1,624	$19,489	

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	$320	$3,840	
	Contingency	$55	$660	
		$375	$4,500	

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	$1,300	$15,600	
	Contingency	$617	$7,400	
		$1,917	$23,000	

Cable/Phone/Internet
Cost of cable, telephone and internet service provided by Comcast 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.

Vendor	Monthly	Annual	
Riverside Management Services	$2,015	$24,179	

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 for two cleanings, plus the cost of chemicals. During summer months, cleanings may be increased to three times a week.

Vendor	Monthly	Annual	
Riverside Management Services	$1,125	$13,500	

Pool Chemicals

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

Vendor	Monthly	Annual	
Poolsure	$1,122	$13,466	
Contingency	$224	$2,693	
	$1,347	$16,159	

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

Vendor	Monthly	Annual	
Riverside Management Services	$731	$8,777	
Janitorial Supplies
All supplies needed for janitorial services.

Refuse Service
This item includes the cost of garbage disposal for the District contracted with Advanced Disposal.

Security/Monitoring
The District employs off-duty officers through the Clay County Sheriff’s Office to provide security services for the District. Also contracted with SafeTouch for security monitoring alarm.

Vendor	Monthly	Annual	
Clay County Sheriffs Officers	$760	$9,120	
Safetouch	$88	$1,057	
Contingency	$194	$2,323	
	$1,042	$12,500	

Gate Monitor

Services provided by Riverside Management Services, Inc. to check people in and out at the pool gate.

Vendor	Monthly	Annual	
Riverside Management Services	$512	$6,146	

Grounds Maintenance:

Landscape Maintenance
The District has contracted with Down to Earth to provide landscaping services to all the common areas within the District.

Vendor	Monthly	Annual	
Down to Earth	$8,306	$99,667	
Contingency	$2,194	$26,333	
	$10,500	$126,000	

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 and RMS for trash pickup.

Vendor	Monthly	Annual	
The Lake Doctors	$850	$10,200	
RMS	$200	$2,400	
Contingency	$28	$330	
	$1,078	$12,930	

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

Account #	Service Address	Monthly	Average	
8824799	4201-1 Pine Ridge Pkwy #1 Irrig Clock	$30	$360	
8824808	1217-1 Camp Ridge Land	$25	$300	
7371685	4392-1 Pine Ridge Park - Irrigation	$25	$300	
8824805	1452-2 Tynes Blvd - Entrance	$35	$420	
8837872	1484 Tynes Blvd #2 Irrig Clock/Sign	$35	$420	
	Contingency	$35	$700	
		$185	$2,500	

Water

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

Account #	Service Address	Monthly	Average	
246892	1376-1 Tynes Blvd Reclaimed	$150	$1,800	
246893	1475-1 Tyne Blvd Reclaimed	$150	$1,800	
248250	4228-1 Pine Ridge Pkwy Reclaimed	$450	$5,400	
248496	4354-1 Foggy Day Dr Reclaimed Irrigation	$200	$2,400	
248497	4421-1 Pine Ridge Pkwy Reclaimed	$220	$2,640	
248498	4688-1 Pine Lake Dr Reclaimed	$25	$300	
248499	4201-2 Pine Ridge Pkwy Irrigation	$64	$768	
257236	4200-1 Pine Ridge Pkwy Irrigation	$200	$2,400	
260144	4200 Pine Ridge Pkwy Reclaimed	$350	$4,200	
	Contingency	$358	$4,292	
		$2,167	$26,000	

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 2006 A/2020A1 and A2

	Adopted	Actual YTD	Projected	Projected	Adopted	
Description	Budget FY2022	As of 6/30/2022	Next 3 Months	Thru 9/30/22	Budget FY2023	

Revenues						
Assessments - Tax Roll	$926,572	$928,789	$0	$928,789	$926,572	
Interest Income	$50	$98	$189	$287	$250	
Fund Balance	$175,191	$175,191	$0	$175,191	$161,970	
Total Revenues	$1,101,813	$1,104,078	$189	$1,104,267	$1,088,792	

Expenditures						
Series 2020A1 
Interest 11/1	
$114,010	
$114,010	
$0	
$114,010	
$106,824	
Interest 51	$114,010	$114,010	$0	$114,010	$106,824	
Principal 5/1	$470,000	$470,000	$0	$470,000	$480,000	
Prepayment 5/1	$0	$10,000	$0	$10,000	$0	
Series 2020A2 
Interest 11/1	
$47,139	
$47,139	
$0	
$47,139	
$45,200	
Interest 51	$47,139	$47,139	$0	$47,139	$45,200	
Principal 5/1	$135,000	$135,000	$0	$135,000	$140,000	
Prepayment 5/1	$0	$5,000	$0	$5,000	$0	
Total Expenses	$927,298	$942,298	$0	$942,298	$924,049	
						
EXCESS REVENUES / (EXPENDITURES)	$174,515	$161,781	$189	$161,970	$164,743	
			
A1	
Interest Expense - 11/1/23	
$99,624	
A2 Interest Expense - 11/1/23 	$43,275 
	$142,899 

Total Gross Assessment	$985,715	
Less: Discounts & Collections (6%)	($59,143)	
Total Net Assessment	$926,572	
Units	737	

Series 2020 A-1 Capital Improvement Revenue Refunding Bond Combined

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL

11/1/22	$	8,610,000.00		$	106,824.38	$	106,824.38	
5/1/23	$	8,610,000.00	$	480,000.00	$	106,824.38		
11/1/23	$	8,130,000.00		$	99,624.38	$	686,448.75	
5/1/24	$	8,130,000.00	$	500,000.00	$	99,624.38		
11/1/24	$	7,630,000.00		$	92,124.38	$	691,748.75	
5/1/25	$	7,630,000.00	$	515,000.00	$	92,124.38		
11/1/25	$	7,115,000.00		$	86,974.38	$	694,098.75	
5/1/26	$	7,115,000.00	$	520,000.00	$	86,974.38		
11/1/26	$	6,595,000.00		$	81,774.38	$	688,748.75	
5/1/27	$	6,595,000.00	$	535,000.00	$	81,774.38		
11/1/27	$	6,060,000.00		$	76,424.38	$	693,198.75	
5/1/28	$	6,060,000.00	$	545,000.00	$	76,424.38		
11/1/28	$	5,515,000.00		$	70,974.38	$	692,398.75	
5/1/29	$	5,515,000.00	$	555,000.00	$	70,974.38		
11/1/29	$	4,960,000.00		$	65,424.38	$	691,398.75	
5/1/30	$	4,960,000.00	$	565,000.00	$	65,424.38		
11/1/30	$	4,395,000.00		$	59,421.25	$	689,845.63	
5/1/31	$	4,395,000.00	$	580,000.00	$	59,421.25		
11/1/31	$	3,815,000.00		$	51,808.75	$	691,230.00	
5/1/32	$	3,815,000.00	$	595,000.00	$	51,808.75		
11/1/32	$	3,220,000.00		$	43,999.38	$	690,808.13	
5/1/33	$	3,220,000.00	$	610,000.00	$	43,999.38		
11/1/33	$	2,610,000.00		$	35,993.13	$	689,992.50	
5/1/34	$	2,610,000.00	$	625,000.00	$	35,993.13		
11/1/34	$	1,985,000.00		$	27,790.00	$	688,783.13	
5/1/35	$	1,985,000.00	$	645,000.00	$	27,790.00		
11/1/35	$	1,340,000.00		$	18,760.00	$	691,550.00	
5/1/36	$	1,340,000.00	$	660,000.00	$	18,760.00		
11/1/36	$	680,000.00		$	9,520.00	$	688,280.00	
5/1/37	$	680,000.00	$	680,000.00	$	9,520.00		
				$	689,520.00	
		$	8,610,000.00	$	1,854,875.00	$	10,464,875.00	

Series 2020 A-2 Capital Improvement Revenue Refunding Bond Combined

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL

11/1/22	$	2,620,000.00		$	45,200.00	$	45,200.00	
5/1/23	$	2,620,000.00	$	140,000.00	$	45,200.00		
11/1/23	$	2,480,000.00		$	43,275.00	$	228,475.00	
5/1/24	$	2,480,000.00	$	140,000.00	$	43,275.00		
11/1/24	$	2,340,000.00		$	41,350.00	$	224,625.00	
5/1/25	$	2,340,000.00	$	145,000.00	$	41,350.00		
11/1/25	$	2,195,000.00		$	39,356.25	$	225,706.25	
5/1/26	$	2,195,000.00	$	150,000.00	$	39,356.25		
11/1/26	$	2,045,000.00		$	36,881.25	$	226,237.50	
5/1/27	$	2,045,000.00	$	155,000.00	$	36,881.25		
11/1/27	$	1,890,000.00		$	34,323.75	$	226,205.00	
5/1/28	$	1,890,000.00	$	160,000.00	$	34,323.75		
11/1/28	$	1,730,000.00		$	31,683.75	$	226,007.50	
5/1/29	$	1,730,000.00	$	165,000.00	$	31,683.75		
11/1/29	$	1,565,000.00		$	28,961.25	$	225,645.00	
5/1/30	$	1,565,000.00	$	170,000.00	$	28,961.25		
11/1/30	$	1,395,000.00		$	26,156.25	$	225,117.50	
5/1/31	$	1,395,000.00	$	175,000.00	$	26,156.25		
11/1/31	$	1,220,000.00		$	22,875.00	$	224,031.25	
5/1/32	$	1,220,000.00	$	185,000.00	$	22,875.00		
11/1/32	$	1,035,000.00		$	19,406.25	$	227,281.25	
5/1/33	$	1,035,000.00	$	190,000.00	$	19,406.25		
11/1/33	$	845,000.00		$	15,843.75	$	225,250.00	
5/1/34	$	845,000.00	$	200,000.00	$	15,843.75		
11/1/34	$	645,000.00		$	12,093.75	$	227,937.50	
5/1/35	$	645,000.00	$	205,000.00	$	12,093.75		
11/1/35	$	440,000.00		$	8,250.00	$	225,343.75	
5/1/36	$	440,000.00	$	215,000.00	$	8,250.00		
11/1/36	$	225,000.00		$	4,218.75	$	227,468.75	
5/1/37	$	225,000.00	$	225,000.00	$	4,218.75		
				$	229,218.75	
		$	2,620,000.00	$	819,750.00	$	3,439,750.00	

Pine Ridge Plantation		
Community Development District					Capital Reserve	
	Adopted	Actual YTD	Projected	Projected	Adopted	
Description	Budget FY2022	As of 6/30/2022	Next 3 Months	Thru 9/30/22	Budget FY2023	

Revenues						
Capital Reserve - Transfer In	$24,614	$0	$24,614	$24,614	$60,805	
Interest	$250	$579	$618	$1,197	$500	
Carry Forward Surplus	$341,577	$306,495	$0	$306,495	$273,556	
Total Revenues	$366,441	$307,074	$25,232	$332,306	$334,861	

Expenditures						

Capital Outlay	
$20,000	
$26,513	
$0	
$26,513	
$30,000	
Culture/Recreation	$20,000	$32,237	$0	$32,237	$30,000	
Total Expenses	$40,000	$58,750	$0	$58,750	$60,000	
						
EXCESS REVENUES / (EXPENDITURES)	$326,441	$248,324	$25,232	$273,556	$274,861