Pine Ridge Plantation
Community Development District

Approved Budget
FY2025

May 21, 2024

BMS

Table of Contents

1-2

3-6

7-9

10

	General Fund

	Narratives

	Debt Service Fund Series 2020

	Capital Reserve Fund

11		Assessment Schedule

	Amended Budget	Actuals Thru	Projected Next	Projected Thru	Approved Budget	
Description	FY2024	3/31/24		6 Months		9/30/24	FY 2025	

REVENUES:						
Special Assessments - On Roll	$750,976	$740,721	$10,231	$750,953	$750,976	
Misc. Income/Facility Rental	3,000	2,800	5,200	8,000	5,000	
Interest Earned	12,500	8,529	6,600	15,129	12,500	
Carry Forward Surplus	599,797	535,264	22,756	558,020	22,756	
TOTAL REVENUES	$1,366,273	$1,287,314	$44,787	$1,332,101	$791,232	

EXPENDITURES:						
Administrative:						
Supervisor Fees	$8,000	$2,600	$3,000	$5,600	$8,000	
FICA Taxes	612	199	230	428	612	
Engineer	3,000	168	2,833	3,000	3,000	
Attorney	20,000	2,306	8,490	10,795	20,000	
Annual Audit	3,175	-	3,175	3,175	3,175	
Assessment Administration	5,576	5,576	-	5,576	5,911	
Arbitrage Rebate	600	-	600	600	600	
Dissemination Agent	5,250	2,625	2,625	5,250	5,565	
Trustee Fees	4,100	4,041	-	4,041	4,100	
District Management Fees	51,760	25,880	25,880	51,760	54,866	
Information Technology	1,600	800	800	1,600	1,696	
Website Maintenance	1,200	600	600	1,200	1,272	
Telephone	500	50	250	300	500	
Postage & Delivery	1,000	131	550	681	1,000	
General Liability and Public Officials Insurance	9,223	9,223	-	9,223	10,146	
Printing & Binding	1,500	168	1,032	1,200	1,500	
Legal Advertising	2,500	-	2,500	2,500	1,500	
Other Current Charges	600	186	414	600	600	
Office Supplies	300	3	97	100	300	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$120,670	$54,729	$53,075	$107,804	$124,517	

Operations & Maintenance						
Grounds Maintenance						
Landscape Maintenance	$154,236	$77,118	$77,118	$154,236	$	161,948	
Lake Maintenance	14,830	5,100	5,100	10,200	$	14,830	
Electric	2,500	1,351	1,351	2,702	$	3,000	
Water	26,000	12,660	10,800	23,460	$	26,000	
Repairs and Maintenance	22,000	6,576	12,424	19,000	$	22,000	
Irrigation Repairs	4,000	2,811	1,189	4,000	$	4,000	
Contingencies	4,451	-	-	-	$	4,451	
Total Grounds Maintenance	$228,017	$105,616	$107,982	$213,598	$236,229	

Description

Amended Budget
FY2024

Actuals	Projected	Projected Thru		Next		Thru
3/31/24		6 Months		9/30/24

Approved Budget
FY 2025

Amenity Center		
Property Insurance	$24,538	$24,538	$-	$24,538	$	27,728	
General Facility Maintenance	18,700	12,306	6,394	18,700	24,200	
Repairs & Replacements	27,500	6,994	12,153	19,147	24,200	
Recreational Passes	500	768	-	768	500	
Office Supplies	500	360	140	500	500	
Permit Fees	780	-	775	775	780	
Contingency	1,000	-	459	459	1,000	
Special Events	15,000	11,455	3,545	15,000	15,000	
Security	18,646	10,713	7,933	18,646	18,646	
Janitorial Supplies	5,000	1,382	3,618	5,000	5,000	
Utilities
Water & Sewer	
5,400	
2,025	
2,100	
4,125	
5,400	
Electric	25,000	7,526	13,021	20,547	25,000	
Cable/Phone/Internet	5,111	2,880	2,940	5,820	5,900	
Refuse Service	10,787	5,313	5,502	10,815	11,040	
Management Contracts
Amenity Management	
67,426	
33,713	
33,713	
67,426	
71,472	
Facility Assistant	19,489	854	7,946	8,800	14,000	
Field Management Services	25,630	12,815	12,815	25,630	27,168	
Lifeguards	19,080	1,159	12,841	14,000	20,511	
Pool Maintenance	14,310	7,155	7,155	14,310	16,500	
Pool Chemicals	21,683	10,319	11,113	21,432	22,333	
Janitorial Service	9,304	4,652	4,652	9,304	10,080	
Total Amenity Center	$335,384	$156,928	$148,814	$305,742	$346,957	
						
TOTAL EXPENDITURES	$684,071	$317,273	$309,870	$627,143	$707,703	

Other Sources/(Uses)						
Capital Reserve Transfer Out	(682,202)	(682,202)	-	(682,202)	(83,529)	
TOTAL OTHER SOURCES/(USES)	$(682,202)	$(682,202)	$-	$(682,202)	$(83,529)	
						
EXCESS REVENUES (EXPENDITURES)	$-	$287,839	$(265,083)	$22,756	$-	

REVENUES

Special Assessments-Tax Roll
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.
Misc Income/Facility Rental Fees
Includes replacement key deposits and income from residents for rental of facilities for personal use.
Interest
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

Supervisors Fees
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting in which they attend. The budgeted amount for the fiscal year is based on all supervisors attending 6 meetings and extra meetings.

FICA Taxes
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.
Engineering
The District's engineer 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.
Attorney
The District’s Attorney, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.
Annual Audit
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from the previous year engagement.
Assessment Roll Administration
GMS LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
Arbitrage
The District is required to have an Arbitrage Rebate Calculation on the District’s Series 2020A1 and A2 Capital Improvement Revenue Bonds. Grau and Associates is contracted to provide annual report.
Dissemination Agent
The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.
Trustee Fees
The District bonds will be held and administered by a Trustee. This represents the trustee annual fee.
Management Fees
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.
Information Technology
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services, LLC.
Website Maintenance
Per Chapter 2014-22, Laws of Florida, all Districts must have a website 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.
Telephone
Internet, Phone and Wi-Fi service for Office.
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.

Expenditures - Administrative (continued)

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 on estimated premium.
Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.
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, amortization schedules and any other miscellaneous expenses that incur during the year.
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.
Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Floirda Department of Commerce for $175.

Expenditures – Grounds Maintenance

Landscape Maintenance
The District has contracted with Brightview Landscape Services Inc to provide landscaping services to all the common areas within the District.
Vendor	Monthly	Annual	
Brightview Landscape	$13,496	$161,948	
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 Doctor	$875	$10,500	
Fish Stocking		$1,900	
RMS	$158	$1,900	
Contingency	$44	$530	
Total	$1,078	$14,830	
Electric
The District currently has the following accounts with Clay Electric.
Account #	Vendor	Monthly	Annual	
8824799	4201-1 Pine Ridge Pkwy 1 Irrig Clock	$34	$408	
8824808	1217-1 Camp Ridge Land	$34	$408	
7371685	4392-1 Pine Ridge Park Irrigation	$34	$408	
8824805	1452-2 Tynes Blvd Entrance	$37	$444	
8837872	1484 Tynes Blvd 2 Irrig Clock/Sign	$40	$480	
	Contingency	$71	$852	
	Total	$250	$3,000	
Water
The District currently has the following accounts with CCUA. Budget includes growth for additional use and new accounts.
Account #	Vendor	Monthly	Annual	
246892	1376- tynes Blvd Reclaimed	$150	$1,800	
246893	1475-1 Tyne Blvd Reclaimed	$150	$1,800	
248250	4228-1 Pine Ridge Pkwy Reclaimed	$234	$2,808	
248496	4354-1 Foggy Day Dr Recl Irrigation	$180	$2,160	
248497	4421-1 Pine Ridge Pkwy Reclaimed	$150	$1,800	
248498	4688-1 Pine Lake Dr Reclaimed	$30	$360	
248499	4201-2 Pine Ridge Pkwy Irrigation	$25	$300	
257236	4200-1 Pine Ridge Pkwy Irrigation	$500	$6,000	
260144	4200 Pine Ridge Pkwy Reclaimed	$280	$3,360	
	Contingency	$358	$5,612	
	Total	$2,057	$26,000	
Repair & Maintenance
Regular repair and maintenance of common area which includes pine straw/mulching, tree cutting, pressure washing of common area and backflow testing.
Irrigation Repairs
Miscellaneous irrigation repairs and maintenance cost for the District.
Contingencies
This item includes a contingency for any unanticipated and unscheduled cost to the District.

Expenditures – Amenity Center

Property Insurance
The District's Property Insurance policy will be with Preferred Governmental Insurance Trust. PGIT specializes in providing insurance coverage to governmental agencies. This is an estimated premium.
General Facility Maintenance
Cost of routine repairs and maintenance of the District’s 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.

Office Supplies
This item includes the cost of office supplies needed for the operation of 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, postage for mailing of newsletter to residents, and costs of publishing newsletter and other mailings/emails associated with the 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.
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, Keatings Communications for annual monitoring for security cameras and annual cloud storage, and Pye-Barker Fire and Safety for annual fire monitoring.
	Vendor	Monthly	Annual	
	Clay County Sheriffs Officers	$960	$11,520	
	Safetouch	$88	$1,057	
	Keatings Communications - Cloud Storage		$2,970	
	Keatings Communications - Security/Monitoring		$1,190	
	Pye-Barker Annual Monitoring		$900	
	Contingency	$84	$1,009	
	Total	$1,132	$18,646	
Janitorial Supplies
All supplies needed for janitorial services.				
Expenditures – Utility				
Water
District currently has one account with CCUA for water at the Amenity Center. Budget includes growth for additional use and new accounts.

Account #	Vendor	Monthly	Annual	
257235	4200 Pine Ridge Pkwy Amenity	$409	$4,908	
	Contingency	$41	$492	
	Total	$450	$5,400	
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 #  Vendor	Monthly	Annual	
7808611	4200 Pine Ridge Pkwy Amenity	$1,600	$19,200	
Contingency		$483	$5,800 	
Total	$2,083	$25,000	
Cable/Phone/Internet
Cost of cable, telephone and internet service provided by Comcast for the Amenity Center.
Refuse Service
This item includes the cost of garbage disposal for the District contracted with Waste Management.

Expenditures – Management Contracts

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

Vendor	Monthly	Annual	
RMS	$5,956	$71,472	
Facility Assistant
Services provided by Riverside Management Services, Inc. to provide part time staffing of amenity center.

Vendor	Monthly	Annual	
RMS	$1,167	$14,000	

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	
RMS	$2,264	$27,168	
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
RMS	$1,375	$16,500
Pool Chemicals
Poolsure will provide the necessary chemicals for the Amenity Center pool.
Vendor	Monthly	Annual	
PoolSure	$1,593	$19,110	
Contingency	$269	$3,223	
Total	$1,861	$22,333	
Janitorial Service
The District has contracted with Riverside Management Services to provide janitorial services for the Amenity Center.
Vendor	Monthly	Annual
RMS	$840	$10,080

Expenditures – Reserves

Capital Reserve
The District has established a Capital Reserve to fund renewal and replacement of the District’s capital related facilities and equipment. This amount will be transferred to Capital Reserve Fund.

Approved Budget
Debt Service Series 2020A1 & A2 Special Assessment Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved Budget	
	Description	FY2024	3/31/24		6 Months		9/30/24	FY 2025	

REVENUES:							

Special Assessments-On Roll	
$926,572	
$913,947	
$12,624	
$926,572	
$926,572	
Interest Earnings	14,023	18,776	18,044	36,820	20,000	
Carry Forward Surplus (1)	181,040	181,275	-	181,275	219,255	
TOTAL REVENUES	$1,121,635	$1,113,998	$30,668	$1,144,666	$1,165,827	

EXPENDITURES:						
Series 2020A1						
Interest 11/1	$99,524	$99,524	$-	$99,524	$92,024	
Interest 5/1	99,524	-	99,524	99,524	92,024	
Principal 5/1	500,000	-	500,000	500,000	510,000	
Prepayment 5/1	-					
Series 2020A2						
Interest 11/1	43,181	43,181	-	43,181	41,256	
Interest 5/1	43,181	-	43,181	43,181	41,256	
Principal 5/1	140,000	-	140,000	140,000	145,000	
Prepayment 5/1	-					
TOTAL EXPENDITURES	$925,411	$142,706	$782,706	$925,411	$921,561	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$-	
$-	
$-	
$-	
$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	
						
TOTAL EXPENDITURES	$925,411	$142,706	$782,706	$925,411	$921,561	
						
EXCESS REVENUES (EXPENDITURES)	$196,224	$971,292	$(752,037)	$219,255	$244,265	

(1) Carry Forward is Net of Reserve Requirement	
A-1 Interest Due 11/1/25	
$86,924.38	
	A-2 Interest Due 11/1/25	$39,262.50	
		$126,186.88	

Series 2020 A-1 Capital Improvement Revenue Refunding Bond Combined

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/24	7,620,000		92,024	92,024	
05/01/25	7,620,000	510,000	92,024		
11/01/25	7,110,000		86,924	688,949	
05/01/26	7,110,000	520,000	86,924		
11/01/26	6,590,000		81,724	688,649	
05/01/27	6,590,000	530,000	81,724		
11/01/27	6,060,000		76,424	688,149	
05/01/28	6,060,000	545,000	76,424		
11/01/28	5,515,000		70,974	692,399	
05/01/29	5,515,000	555,000	70,974		
11/01/29	4,960,000		65,424	691,399	
05/01/30	4,960,000	565,000	65,424		
11/01/30	4,395,000		59,421	689,846	
05/01/31	4,395,000	580,000	59,421		
11/01/31	3,815,000		51,809	691,230	
05/01/32	3,815,000	595,000	51,809		
11/01/32	3,220,000		43,999	690,808	
05/01/33	3,220,000	610,000	43,999		
11/01/33	2,610,000		35,993	689,993	
05/01/34	2,610,000	625,000	35,993		
11/01/34	1,985,000		27,790	688,783	
05/01/35	1,985,000	645,000	27,790		
11/01/35	1,340,000		18,760	691,550	
05/01/36	1,340,000	660,000	18,760		
11/01/36	680,000		9,520	688,280	
05/01/37	680,000	680,000	9,520	689,520	
Total		$7,620,000	$1,441,578	$9,061,578	

Series 2020 A-2 Capital Improvement Revenue Refunding Bond Combined

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/24	2,335,000.00		41,256.25	41,256.25	
05/01/25	2,335,000.00	145,000.00	41,256.25		
11/01/25	2,190,000.00		39,262.50	225,518.75	
05/01/26	2,190,000.00	150,000.00	39,262.50		
11/01/26	2,040,000.00		36,787.50	226,050.00	
05/01/27	2,040,000.00	155,000.00	36,787.50		
11/01/27	1,885,000.00		34,230.00	226,017.50	
05/01/28	1,885,000.00	160,000.00	34,230.00		
11/01/28	1,725,000.00		31,590.00	225,820.00	
05/01/29	1,725,000.00	165,000.00	31,590.00		
11/01/29	1,560,000.00		28,867.50	225,457.50	
05/01/30	1,560,000.00	170,000.00	28,867.50		
11/01/30	1,390,000.00		26,062.50	224,930.00	
05/01/31	1,390,000.00	175,000.00	26,062.50		
11/01/31	1,215,000.00		22,781.25	223,843.75	
05/01/32	1,215,000.00	185,000.00	22,781.25		
11/01/32	1,030,000.00		19,312.50	227,093.75	
05/01/33	1,030,000.00	190,000.00	19,312.50		
11/01/33	840,000.00		15,750.00	225,062.50	
05/01/34	840,000.00	200,000.00	15,750.00		
11/01/34	640,000.00		12,000.00	227,750.00	
05/01/35	640,000.00	205,000.00	12,000.00		
11/01/35	435,000.00		8,156.25	225,156.25	
05/01/36	435,000.00	215,000.00	8,156.25		
11/01/36	220,000.00		4,125.00	227,281.25	
05/01/37	220,000.00	220,000.00	4,125.00	224,125.00	
Total		$2,335,000	$640,363	$2,975,363	

Proposed Budget Capital Reserve Fund

		Amended Budget	Actuals Thru	Projected Next	Projected Thru	Approved Budget	
	Description	FY2024	3/31/24		6 Months		9/30/24	FY 2025	

REVENUES:							

Interest Income	$3,200	
$14,710	
$15,000	
29,710	
$3,353	
Carry Forward Balance	-	-	-	-	654,678	
TOTAL REVENUES	$3,200	$14,710	$15,000	$29,710	$658,031	

EXPENDITURES:
Capital Outlay
Other Current	$100	

$2,846	

$240	

$3,086	

$500	
Capital Outlay*	-	-	-	-	50,000	
Repair and Maintenance	54,148	27,915	26,233	54,148	22,380	
TOTAL EXPENDITURES	$54,248	$30,761	$26,473	$57,234	$72,880	

Other Sources/(Uses)						
Transfer in/(Out)	$682,202	$682,202	$-	$682,202	$83,529	
TOTAL OTHER SOURCES/(USES)	$682,202	$682,202	$-	$682,202	$83,529	
						
EXCESS REVENUES (EXPENDITURES)	$631,154	$666,151	$(11,473)	$654,678	$668,680	
* Perimeter Lighting						

Pine Ridge Plantation
Community Development District
Non-Ad Valorem Assessments Comparison 2024-2025

Neighborhood	O&M Units	Bonds 2020
Units	Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2025	
FY2024	
FY 2025	
FY2024	
FY 2025	
FY2024	

55'	

390	

390	

$1,084	

$1,084	

$1,242	

$1,242	

$2,326	

$2,326	
65'	40	40	$1,084	$1,084	$1,366	$1,366	$2,450	$2,450	
70'	194	194	$1,084	$1,084	$1,491	$1,491	$2,575	$2,575	
75'+	113	113	$1,084	$1,084	$1,512	$1,512	$2,596	$2,596	
Total	737	737