Adopted Budget	
Fiscal Year 2024	

River Place on the St. Lucie	
Community Development District	

August 17, 2023

River Place on the St. Lucie	
Community Development District	

TABLE OF CONTENTS

General Fund	
Budget	
Assessments Per Unit	
Capital Reserve Schedule	
Narrative	

Page 1-3	
Page 4	
Page 5	
Page 6-9	

Debt Service Fund	
Budget - Series 2001 A	
Amortization Schedule - 2001A	

Page 10	
Page 11	

River Place on the St. Lucie	
Community Development District	

OPTION 3	
Adopted	
Budget	
FY 2024	

$517,268
$64,557
$17,400
$4,800
$10,000
$0	
$614,025	

$5,000
$383
$8,000
$25,000
$11,006
$600
$2,500
$3,825
$3,800
$43,332
$1,000
$200
$1,000
$1,000
$2,400
$9,294
$750
$790
$0
$100
$175	
$120,155	

Adopted	
Budget	
FY 2023	

Actual	
Thru	
7/31/2023	

Projected	
Next	
2 Months	

Total	
Projected	
9/30/2023	

Description

Revenues

Maintenance Assessments - On Roll	
Stormwater Fees	
Boat Storage Rental Fees	
Clubhouse Rentals	
Interest Income	
Insurance Claim	

$407,719	
$57,950	
$14,400	
$4,800	
$500	
$0	

$389,275	
$53,857	
$14,879	
$1,000	
$15,656	
$50,000	

$21,579	
$10,700	
$2,800	
$500	
$2,000	
$0	

$410,854	
$64,557	
$17,679	
$1,500	
$17,656	
$50,000	

	

	

Total Revenues	$485,369	$524,667	$37,579	$562,246

Expenditures

Administrative	
Supervisor Fees	
FICA Taxes	
Engineering Fees	
Attorney Fees	
Property Appraiser	
Arbitrage Rebate	
Dissemination Agent	
Annual Audit	
Trustee Fees	
Management Fees	
Website Compliance	
Telephone	
Postage	
Printing & Binding	
Rentals & Leases	
General Liability Insurance	
Legal Advertising	
Other Current Charges	
Property Taxes	
Office Supplies	
Dues, Licenses & Subscriptions	

$4,000	
$306	
$5,000	
$25,000	
$8,675	
$600	
$2,500	
$3,715	
$4,157	
$42,070	
$1,000	
$200	
$1,000	
$500	
$2,400	
$9,432	
$750	
$600	
$550	
$350	
$175	

$4,600	
$352	
$8,185	
$17,100	
$8,675	
$0	
$2,083	
$3,715	
$7,230	
$35,058	
$833	
$0	
$1,097	
$1,706	
$2,000	
$9,013	
$0	
$241	
$0	
$89	
$175	

$1,000	
$77	
$2,000	
$8,000	
$0	
$600	
$417	
$0	
$0	
$7,012	
$167	
$15	
$50	
$100	
$400	
$0	
$750	
$120	
$0	
$30	
$0	

$5,600	
$428	
$10,185	
$25,100	
$8,675	
$600	
$2,500	
$3,715	
$7,230	
$42,070	
$1,000	
$15	
$1,147	
$1,806	
$2,400	
$9,013	
$750	
$361	
$0	
$119	
$175	

	

	

	

	

	

	

	

Total Administrative	$112,979	$102,152	$20,737	$122,889

OPTION 3	
Adopted	
Budget	
FY 2024	

$27,000	
$13,200	
$3,000	
$20,000	
$0	
$0	
$13,220	
$90,000	
$1,612	
$0	
$11,600	
$1,800	
$13,000	
$5,000	
$1,000	
$25,000	
$20,000	
$245,432	

$4,000
$14,520
$4,800
$840
$28,979
$0
$15,600
$20,000
$14,400
$10,000
$15,000
$300
$20,000
$35,000
$65,000	
$248,439	
	
$614,025	
	
$0	

River Place on the St. Lucie	
Community Development District	

Adopted	
Budget	
FY 2023	

Actual	
Thru	
7/31/2023	

Projected	
Next	
2 Months	

Total	
Projected	
9/30/2023	

Description

Field	
Field Management	
Utility - Electric Irrigation	
Water/Wastewater	
Preserve Maintenance	
Hog Removal	
Environmental	
Aquatic Maintenance	
Landscape Maintenance	
Fertilization/Weed and Pest Control	
Irrigation & Fountain Maintenance	
Irrigation Maintenance	
Fountain Maintenance	
Repairs & Maintenance	
Signage Maintenance	
Operating Supplies	
PSL Interlocal Agreement	
Contingency	

$26,604	
$10,000	
$0	
$0	
$0	
$42,000	
$14,550	
$100,000	
$1,535	
$20,000	
$0	
$0	
$30,000	
$5,000	
$1,000	
$25,000	
$1,000	

$28,774	
$8,487	
$2,232	
$20,000	
$3,000	
$0	
$11,400	
$76,895	
$1,151	
$0	
$12,924	
$925	
$8,659	
$0	
$384	
$18,750	
$1,500	

$6,226	
$1,800	
$450	
$5,000	
$700	
$0	
$1,820	
$14,400	
$384	
$0	
$1,600	
$400	
$5,000	
$5,000	
$616	
$6,250	
$500	

$35,000	
$10,287	
$2,682	
$25,000	
$3,700	
$0	
$13,220	
$91,295	
$1,535	
$0	
$14,524	
$1,325	
$13,659	
$5,000	
$1,000	
$25,000	
$2,000	

Total Field	$276,689	$195,080	$50,146	$245,226

Clubhouse 	
Security Monitoring/Fire/Alarm	
Utility - Electric	
Water/Wastewater	
Telephone	
Property Insurance/Workers Comp	
Clubhouse Cleaning & Repairs	
Clubhouse Cleaning	
Clubhouse Maintenance and Repairs	
Pool & Spa Maintenance	
Pool & Spa Repairs	
Propane Gas	
Trash	
Capital Outlay	
Capital Improvement Reserve Window Replacement	
Capital Improvement Reserve Clubhouse Parking Lot	

$5,000	
$12,000	
$6,000	
$2,100	
$19,800	
$12,500	
$0	
$0	
$12,000	
$0	
$25,000	
$300	
$1,000	
$0	
$0	

$4,324	
$10,146	
$4,338	
$1,636	
$19,299	
$0	
$9,540	
$83,235	
$10,500	
$11,753	
$21,276	
$0	
$68,084	
$0	
$0	

$1,548	
$2,148	
$462	
$140	
$0	
$0	
$1,920	
$10,000	
$2,100	
$2,000	
$1,000	
$300	
$43,000	
$0	
$0	

$5,872	
$12,294	
$4,800	
$1,776	
$19,299	
$0	
$11,460	
$93,235	
$12,600	
$13,753	
$22,276	
$300	
$111,084	
$0	
$0	

	

	

	

	

	

Total Clubhouse	$95,700		$244,130		$64,618		$308,748	
								
Total Expenditures	$485,368		$541,362		$135,500		$676,862	
								
EXCESS REVENUES (EXPENDITURES)	$0		($16,695)		($97,921)		($114,616)	

River Place on the St. Lucie	
Community Development District	

OPTION 3	
Adopted	
Budget	
FY 2024	

$0	
$0	
	
$0	

Adopted	
Budget	
FY 2023	

Actual	
Thru	
7/31/2023	

Projected	
Next	
2 Months	

Total	
Projected	
9/30/2023	

Description

Other Financing Sources/(Uses)

Interfund Transfer In (Out) - Reserve funds	$0	$0	$97,921	$114,616

TOTAL OTHER FINANCING SOURCES/(USES)	$0	$0	$97,921	$114,616

Excess Revenues/(Expenditures)	$0	($16,695)	$0	$0

River Place on the St Lucie CDD	
Exhibit "A"	
Assessments Per Unit - Option 3	

	

	

	

	

	

	

	

	

	

	

	

	O&M	Debt Service		
		FY2023	FY2024	INCREASE	FY 2024	FY 2024	

Description	
Units/ Acres	
Gross O&M Per Unit	
Total Gross O&M	
Gross O&M Per Unit	
Total Gross O&M	
Gross O&M Per Unit	
Total Gross O&M	
Unit - Debt	
Gross Debt Per Unit	
Total Gross Debt - Series 2001 A	

Total	

Single Family
Moss Rose Place
Moss Rose Place (Maronda) Little Kayak Point - Phase 1 Little Kayak Point - Phase 2 Canoe Park Circle- Phase 1 Canoe Park Circle- Phase 2

Multi Family
A - Bent Paddle C- Little Turtle
E - Hawks Ridge

Office
Parcel I

Institutional Woodlands IR Bank
RP Partners

Commercial Parcel N	

12	

$913.62	

$10,963.49	

$1,159.11	

$13,909.27	

$245.48	

$2,945.78	

12	

$479.00	

$5,748.00	

$19,657.27
$19,657.27
$52,419.38
$62,248.01
$117,943.60
$126,814.23

$52,491.80
$83,595.49
$140,874.79

$18,643.31

$3,293.55
$2,552.50
$8,764.15

$34,891.25	
	12	$913.62	$10,963.49	$1,159.11	$13,909.27	$245.48	$2,945.78	12	$479.00	$5,748.00		
	32	$913.62	$29,235.97	$1,159.11	$37,091.38	$245.48	$7,855.41	32	$479.00	$15,328.00		
	38	$913.62	$34,717.71	$1,159.11	$44,046.01	$245.48	$9,328.30	38	$479.00	$18,202.00		
	72	$913.62	$65,780.93	$1,159.11	$83,455.60	$245.48	$17,674.67	72	$479.00	$34,488.00		
	78	$913.62	$71,262.67	$1,159.11	$90,410.23	$245.48	$19,147.56	76	$479.00	$36,404.00		
	
36	
$913.62	
$32,890.46	
$1,159.11	
$41,727.80	
$245.48	
$8,837.33	
36	
$299.00	
$10,764.00		
	52	$913.62	$47,508.45	$1,159.11	$60,273.49	$245.48	$12,765.04	52	$448.50	$23,322.00		
	118	$913.62	$107,807.63	$1,159.11	$136,774.45	$245.48	$28,966.82	8	$512.54	$4,100.34		
	
5.39	
$1,059.40	
$5,710.16	
$1,344.05	
$7,244.43	
$284.65	
$1,534.26	
5.39	
$2,114.82	
$11,398.88		
	
1	
$720.85	
$720.85	
$914.53	
$914.53	
$193.68	
$193.68	
1	
$2,379.02	
$2,379.02		
	0.775	$720.85	$558.66	$914.53	$708.76	$193.68	$150.11	0.775	$2,379.02	$1,843.74		
	2.661	$720.85	$1,918.18	$914.53	$2,433.57	$193.68	$515.40	2.661	$2,379.02	$6,330.57		
	21.07	$650.43	$13,704.47	$825.19	$17,386.72	$174.76	$3,682.25	21.07	$830.78	$17,504.53		
Gross Total		$433,743.11	$550,285.49	$116,542.38	$193,561.09	$743,846.58	

less discount 4%	
less commission 2%	

$17,349.72	
$8,674.86	

$22,011.42	
$11,005.71	

$4,661.70	
$2,330.85	

$7,742.44	
$3,871.22	

$29,753.86	
$14,876.93	

Net Total	$407,718.52		$517,268.36		$109,549.84		$181,947.42	$699,215.78	

property appraiser 2%	
$8,674.86		
$11,005.71		
$2,330.85		
$3,871.22	
$14,876.93	

Page 4

River Place on the St. Lucie	
Community Development District	

Allocation of Capital Reserves (1)

Description	Amount

Beginning Balance - Carry Forward Surplus (As of 9/30/2008)	$327,413

Additions:			
FY 2010 Excess of Revenues Over Expenditures	$2,026		
FY 2011 Excess of Revenues Over Expenditures	$429,084		
FY 2012 Excess of Revenues Over Expenditures	$640		
FY 2015 Excess of Revenues Over Expenditures	$419,053		
FY 2018 Excess of Revenues Over Expenditures		$179,773		$1,030,576 	

Subtractions:			
FY 2009 Deficiency of Revenues Under Expenditures	($126,154)		
FY 2013 Deficiency of Revenues Under Expenditures	($126,513)		
FY 2014 Deficiency of Revenues Under Expenditures	($61,248)		
FY 2016 Deficiency of Revenues Under Expenditures	($66,944)		
FY 2017 Deficiency of Revenues Under Expenditures	($202,270)		
FY 2019 Deficiency of Revenues Under Expenditures	($46,200)		
FY 2020 Deficiency of Revenues Under Expenditures	($125,964)		
FY 2021 Deficiency of Revenues Under Expenditures	($40,984)		
FY 2022 Deficiency of Revenues Under Expenditures		($75,401)		($871,678)	

Total Projected Capital Reserve Funds as of 09/30/23	$486,312

(1) Per Resolution 2005-08 adopted on August 17, 2005, the Board of Supervisors shall make all decisions concerning	
the capital reserve account.	

Page 5

REVENUES:

Maintenance Assessment-On Roll
The District will levy a non-ad valorem assessment on all platted property within the District in order to pay the Administrative expenses incurred during the fiscal year.

Maintenance Assessment-Direct
The District will levy a non-ad valorem assessment on one (1) platted property within the District in order to pay the Administrative expenses incurred during the fiscal year.

Storm Water Fee Assessment
The City of Port St. Lucie assesses the residents of the District for Repairs, Maintenance and Capital Improvements of the Drainage System. The city then remits the storm water fees less an administrative fee to the District since the District provides all these services.

Rental Fees
Fees charged for Boat Storage.

User Fees
The District collects rental fees for various amenities including the Clubhouse.

Interest Income
The District will invest surplus funds with the State Board of Administration Investment Pool.

EXPENDITURES:

Administrative:

Supervisor Fees
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 5 supervisors attending the estimated four annual meetings.

FICA Taxes
Related payroll taxes of 7.65% for above.

Engineering Fees
The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Attorney Fees
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Property Appraiser
These are a percentage of the annual assessment; 2% for the tax collector and property appraiser.

Arbitrage Rebate
The District has contracted with independent certified public accountants, to annually calculate the District's Arbitrage Rebate Liability on Series 2001A/B Special Assessment Bonds. The amount is based on the current contract.

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.

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

Trustee Fees
The District issued Series 2001A/B Special Assessment Bonds that are deposited with a Trustee at US Bank. The annual trustee fee is based on 2 Basis Points plus reimbursable expenses.

Administrative: (continued)

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services. These services are further outlined in Exhibit "A" of the Management Agreement.

Website Compliance
Per Section 199.069 F.S., 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-SF, LLC and updated as required by the Statute.

Telephone
Telephone and fax machine.

Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.

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

Rental & Leases
The District will be charged $200 per month for office rent from Governmental Management Services for the District's administrative office located in Fort Lauderdale.

General Liability Insurance
The District's General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance (FIA). FIA 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 a newspaper of general circulation.

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

Property Taxes
Property Taxes for property owned by the District.

Office Supplies
Miscellaneous office supplies.

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity of $175.

Field:

Field Management
The District currently contracts the operation of the property and its contractors. .

Utility - Electric Irrigation
The District is currently responsible for the following accounts with Florida Power & Light:

-432 NE Leaping Frog Way #IRR/1
-612 NE Muskrat Run - IRR
-436 NE Leaping Frog Way - IRR
-430 NE Lazy River Pkwy - IRR
-650 NE Little Kayak Pt - IRR
-101 NE Hammock Creek TRL - PUMP

Field: (continued)

Water/Wastewater
The District is currently responsible for the following accounts with The City of Port St. Lucie:

-450 NE Lazy River Pkwy- Irrigation
-0 Windy River Way- Water & Sewer

Preserve Maintenance
The line item is for preserve/plant maintenance.
-Preserve Isolated Wetlands Maintenance
-Preserved Riverine and Creek Wetlands maintenance.

Aquatic Maintenance
The District is contracted with Wetlands Management Inc. for the monthly, semi-annual maintenance. Their services include:
-Control algae
-Treat torpedo grass
-Deaden cattail
-Control undesirable plant infestations
-Monthly Lake maintenance
-The L-107 canal maintenance

Landscaping Maintenance
The District has contracted Hugo’s Lawn Care LLC. for its annual common area and secondary areas landscape maintenance. The annual agreement is $86,400 plus $3,600 contingency. The monthly maintenance services include:

-Grass mowing, trimming and edging
-Plant and tree trimming
-Weeding & Clearing
-Perennials
-Pest & Disease Control

Fertilization/Weed and Pest Control
Landscape fertilization weed and pest control. District contracted Adams Pest Control for a quarterly fee of $270 for services such as monthly interior inspection & treatment on a need basis. Monthly exterior inspection & treatment as necessary of the club house & pool area. Addition $113.75 every quarter for termites.

Irrigation Maintenance
The District has contracted with Hugo’s Lawn Care LLC to maintain the irrigation system.

Fountain Maintenance
The District has contracted with Treasure Coast Aquatics to maintain 5 fountains.

Repairs & Maintenance
All general repairs and maintenance that the District should incur during the fiscal year.

Signage Maintenance
Represents estimated cost for repairing or replacing street and amenities signage.

Operating Supplies
Purchase of supplies for the District's common area, etc.

PSL Interlocal Agreement
Quarterly payments are due to the City of Port St. Lucie for the maintenance, supervision and scheduling of River Place Public Park. The annual agreement is $25,000.

Contingency
Represents the potential excess of unscheduled maintenance expenses not included in budget categories or not anticipated in specific line items.

Clubhouse

Security Motoring/Fire/Alarm
The District has a contract with High Rise, Inc for fire and alarm monitoring with starlink. The total annual charge for security maintenance is $1,643. Additional cost for annual testing $600 and replacement/repairs $1,757.

Utility - Electric
The District is currently responsible for the following accounts with Florida Power & Light:

-450 NE Lazy River Pkwy - Clubhouse

Water/Wastewater
The District is currently responsible for the following accounts with The City of Port St. Lucie:

-450 NE Lazy River Pkwy- Clubhouse

Telephone
AT&T internet service at the clubhouse.

Property Insurance/Workers Comp
Property and operational insurance for the District’s capital assets and workers comp.

Clubhouse Cleaning
The District has contracted with IClean Inc for monthly Clubhouse, bathrooms, kitchen, pool area ang gym cleaning

Clubhouse Maintenance and Repairs
Cost to maintain repairs for the clubhouse and maintenance for the Air conditioning unit.

Pool & Spa Maintenance
The District is contracted with Ultra Blue Pool Service for monthly pool maintenance. Weekly service includes vacuuming, brushing, tile cleaning as needed, chemical balance and equipment inspections for proper function, logbooks filled out.

Pool & Spa Repairs
Cost for repairs to the pool and spa and repairs to cartridges.

Propane Gas
This expenditure is propane for the pool water heaters, SPA and BBQ tank.

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

Capital Outlay
Represents any new/replacement for infrastructure within the district.

Capital Imp Reserve Window Replacement
Represents any future replacement Clubhouse windows.

Capital Improvement Reserve Clubhouse parking lot
Milling and overlay of asphalt concrete of the Clubhouse parking lot.

Debt Service Fund	
Series 2001, Special Assessment Revenue Bonds	

Adopted	
Budget	
FY 2023	

Actual	
Thru	
7/31/2023	

Projected	
Next	
2 Months	

Total	
Projected	
9/30/2023	

Adopted	
Budget	
FY 2024	

Description

Revenues	
Carry forward surplus (1)	
Assessments - On Roll	
Interest Income	

$49,836	$50,523	
$181,947	$173,671	
$0	$2,123	

$0	
$9,630	
$50	

$50,523	
$183,301	
$2,173	

$60,495	
$181,947	
$500	

Total Revenues	$242,943

$231,784		$226,318	

$9,680		$235,998	

Expenditures

Series 2001A	
Interest - 11/1	
Interest - 5/1	
Principal - 5/1	
Property Appraiser	

$38,316	
$38,316	
$95,000	
$3,871	

$38,316	
$38,316	
$95,000	
$3,871	

$0	
($0)	
$0	
$0	

$38,316	
$38,316	
$95,000	
$3,871	

$34,694	
$34,694	
$100,000	
$3,871	

Total Expenditures	$175,502	$175,502	($0)	$175,502	$173,259

Excess (deficiency) of revenues	
Over (under) expenditures	

		
Excess Revenues/(Expenditures)	$56,281	$50,815	
(1) Carry forward surplus is net of the reserve requirement and Series B is not included.		

$56,281	$50,815	$9,680	$60,495	$69,684

$9,680	$60,495	$69,684

$30,881	
$30,881	

11/01/24- 2001A Interest Payment

Amortization Schedule	
Series 2001A, Special Assessment Bonds	

 					
DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL

11/1/2023	$910,000.00	7.625%	$0.00	$34,693.75	$168,009.38	
5/1/2024	$910,000.00	7.625%	$100,000.00	$34,693.75	$0.00	
11/1/2024	$810,000.00	7.625%	$0.00	$30,881.25	$165,575.00	
5/1/2025	$810,000.00	7.625%	$110,000.00	$30,881.25	$0.00	
11/1/2025	$700,000.00	7.625%	$0.00	$26,687.50	$167,568.75	
5/1/2026	$700,000.00	7.625%	$120,000.00	$26,687.50	$0.00	
11/1/2026	$580,000.00	7.625%	$0.00	$22,112.50	$168,800.00	
5/1/2027	$580,000.00	7.625%	$130,000.00	$22,112.50	$0.00	
11/1/2027	$450,000.00	7.625%	$0.00	$17,156.25	$169,268.75	
5/1/2028	$450,000.00	7.625%	$140,000.00	$17,156.25	$0.00	
11/1/2028	$310,000.00	7.625%	$0.00	$11,818.75	$168,975.00	
5/1/2029	$310,000.00	7.625%	$150,000.00	$11,818.75	$0.00	
11/1/2029	$160,000.00	7.625%	$0.00	$6,100.00	$167,918.75	
5/1/2030	$160,000.00	7.625%	$160,000.00	$6,100.00	$166,100.00	
TOTAL	$910,000.00	$298,900.00	$1,342,215.63