Budget Amendment
Fiscal Year 2022

River Place on the St. Lucie Community Development District

November 17, 2022

River Place on the St. Lucie
Community Development District

TABLE OF CONTENTS

General Fund Budget
Assessments Per Unit
Capital Reserve Schedule Narrative

Page 1-2
Page 3
Page 4
Page 5-9

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

Page 10
Page 11

River Place on the St. Lucie
Community Development District

General Fund

Adopted
Budget FY 2022

Actual
Thru 9/30/2022

Amended
Budget FY 2022

Description

Revenues

Maintenance Assessments - On Roll Stormwater Fees
Rental Fees User Fees Interest Income
Miscellaneous Revenues

$321,245
$57,950
$14,400
$4,800
$1,000
$0

$324,541
$61,181
$17,448
$6,965
$4,897
$3,011

$324,541
$61,181
$17,448
$6,965
$4,897
$3,011

Total Revenues

$399,395

$418,042

$418,042

Expenditures

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

$4,000
$306
$5,000
$25,000
$6,829
$600
$2,500
$4,125
$4,157
$38,245
$1,000
$200
$1,000
$500
$2,400
$7,974
$750
$600
$550
$350
$175

$6,400
$490
$10,994
$35,652
$6,829
$600
$2,600
$3,715
$0
$38,245
$1,000
$0
$995
$1,251
$2,400
$7,860
$1,165
$953
$0
$111
$175

$6,400
$490
$10,994
$35,652
$6,829
$600
$2,600
$3,715
$4,157
$38,245
$1,000
$200
$1,000
$1,251
$2,400
$7,860
$1,165
$953
$0
$350
$175

Total Administrative

$106,261

$121,435

$126,036

Page 1

River Place on the St. Lucie
Community Development District

General Fund

Adopted
Budget FY 2022

Actual
Thru 9/30/2022

Amended
Budget FY 2022

Description

Field
Field Management Environmental Aquatic Maintenance Security Monitoring Telephone
Electric Water/Wastewater Gas
Trash Marketing Fees
Rental Fee Commission Insurance
Repairs & Maintenance Clubhouse Cleaning & Repairs Pool & Spa Maintenance Landscape Maintenance
PSL Interlocal Agreement Fertilization/Weed and Pest Control Irrigation & Fountain Maintenance Signage
Operating Supplies Capital Outlay
Contingency

$22,560
$41,597
$14,550
$5,000
$2,100
$22,000
$9,000
$25,000
$300
$3,000
$3,600
$16,740
$30,000
$12,500
$12,000
$100,000
$25,000
$1,535
$20,000
$5,000
$1,000
$1,000
$700

$23,654
$50,087
$13,220
$6,498
$2,334
$20,906
$7,598
$30,084
$0
$987
$2,767
$16,500
$12,675
$13,845
$18,883
$87,670
$25,000
$1,535
$12,275
$0
$600
$20,836
$4,056

$23,654
$50,087
$14,550
$6,498
$2,334
$22,000
$9,000
$30,084
$300
$987
$2,767
$16,500
$30,000
$13,845
$18,883
$87,670
$25,000
$1,535
$12,275
$5,000
$1,000
$20,836
$4,056

Total Field

$374,182

$372,008

$398,859

Total Expenditures

$480,443

$493,443

$524,895

EXCESS REVENUES (EXPENDITURES)

($81,048)

($75,401)

($106,853)

Other Financing Sources/(Uses)

Interfund Transfer In (Out) - Reserve funds

$81,048

$0

$106,853

TOTAL OTHER FINANCING SOURCES/(USES)

$81,048

$0

$106,853

Excess Revenues/(Expenditures)

$0

($75,401)

$0

Page 2

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

Total Gross Assessment Per Unit / Acre FY 2021

Total Gross Debt - Series 2001 A

Gross O&M Per Unit

Total Gross O&M

Unit - Debt

Gross Debt Per Unit

Description

Plat/Parcel

Units/Acres

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

1
1
2
4
3
6

12
12
32
38
72
78

$719.24
$719.24
$719.24
$719.24
$719.24
$719.24

$8,630.88
$8,630.88
$23,015.68
$27,331.12
$51,785.28
$56,100.72

12
12
32
38
72
76

$479.00
$479.00
$479.00
$479.00
$479.00
$479.00

$5,748.00
$5,748.00
$15,328.00
$18,202.00
$34,488.00
$36,404.00

$1,198.24
$1,198.24
$1,198.24
$1,198.24
$1,198.24
$1,198.24

$14,378.88
$14,378.88
$38,343.68
$45,533.12
$86,273.28
$92,504.72

Multi Family
A - Bent Paddle
C- Little Turtle- (CDD owned) C- Little Turtle
E - Hawks Ridge

5
0
10

36
0
52
118

$719.24
$719.24
$719.24
$719.24

$25,892.64
$0.00
$37,400.48
$84,870.32

36
0
52
8

$299.00
$299.00
$448.50
$512.54

$10,764.00
$0.00
$23,322.00
$4,100.34

$1,018.24
$1,018.24
$1,167.74
$1,231.78

$36,656.64
$0.00
$60,722.48
$88,970.66

Office
Parcel I

7

5.39

$834.00

$4,495.26

5.39

$2,114.82

$11,398.88

$2,948.82

$15,894.14

Institutional Woodlands IR Bank
RP Partners

Parcel H & H1

9

1
0.775
2.661

$567.48
$567.48
$567.48

$567.48
$439.80
$1,510.06

1
0.775
2.661

$2,379.02
$2,379.02
$2,379.02

$2,379.02
$1,843.74
$6,330.57

$2,946.50
$2,946.50
$2,946.50

$2,946.50
$2,283.54
$7,840.64

Commercial Parcel N

21.07

$512.04

$10,788.68

21.07

$830.78

$17,504.53

$1,342.82

$28,293.22

Gross Total

$341,459.28

$193,561.09

$535,020.37

less discount 4%
less commission 2%

($13,658.37)
($6,556.02)

($7,742.44)
($3,716.37)

($21,400.81)
($10,272.39)

Net Total

$321,244.89

$182,102.27

$503,347.17

property appraiser 2%

($6,829.19)

($3,871.22)

($10,700.41)

Page 3

River Place on the St. Lucie
Community Development District

Allocation of Capital Reserves (1)

Beginning Balance - Carry Forward Surplus (As of 9/30/2008)

$327,413

Additions:
FY 2010 Excess of Revenues Over Expenditures FY 2011 Excess of Revenues Over Expenditures FY 2012 Excess of Revenues Over Expenditures FY 2015 Excess of Revenues Over Expenditures FY 2018 Excess of Revenues Over Expenditures

$2,026
$429,084
$640
$418,595
	$179,118	$1,029,463 

Subtractions:
FY 2009 Deficiency of Revenues Under Expenditures FY 2013 Deficiency of Revenues Under Expenditures FY 2014 Deficiency of Revenues Under Expenditures FY 2016 Deficiency of Revenues Under Expenditures FY 2017 Deficiency of Revenues Under Expenditures FY 2019 Deficiency of Revenues Under Expenditures FY 2020 Deficiency of Revenues Under Expenditures
FY 2021 Deficiency of Revenues Under Expenditures (for parcel owned by County)

($126,154) ($126,513) ($61,248)
($67,401) ($202,270) ($45,171) ($125,964)
	($81,048)	($835,769)

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

Page 4

Total Projected Capital Reserve Funds as of 09/30/21	$521,107

Description	Amount

River Place on the St. Lucie
Community Development District

General Fund

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
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.

Page 5

River Place on the St. Lucie
Community Development District

General Fund

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.

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. The monthly fees are $1750. The annual fee is
$21,600 plus reimbursable expenses incurred by the management company on the District’s behalf.

Environmental
Included will be $13,597 for Riverine exotic plant removal, $28,000 for exotic plant maintenance and hog removal.

Page 6

River Place on the St. Lucie
Community Development District

General Fund

Field: (continued)

Aquatic Maintenance
The District is contracted with Wetlands Management Inc. for the monthly, semi-annual and yearly maintenance. Their services include:

-Control algae
-Treat torpedo grass
-Deaden cattail
-Control undesirable plant infestations
-Monthly Lake maintenance
-The L-107 canal maintenance
-Preserve Isolated Wetlands Maintenance
-Preserved Riverine and Creek Wetlands maintenance.

The total proposed annual expense is $14,550.

Security Motoring
The District has a contract with Securpoint Security System, Inc for alarm monitoring with Starlink and quarterly service from Johnson Controls Security for the pool gate access system; the total annual charge security maintenance is $2,692. Addition cost for replacement/repairs.

Telephone
Telephone service at the clubhouse.

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

-432 NE Leaping Frog Way #IRR/1
-450 NE Lazy River Pkwy - Clubhouse
-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

Based on previous year actual expenditures, $22,000 has been budgeted.

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

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

Based on previous year actual expenditures, $9,000 has been budgeted.

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.

Marketing Fees
Expenses incurred to promote facility rentals and user fees.

Rental Fee Commission
Commissions paid for Rental Fees of the Clubhouse.

Insurance
Property and operational insurance for the District’s capital assets.

Page 7

River Place on the St. Lucie
Community Development District

General Fund

Field: (continued)

Repairs & Maintenance
All general repairs and maintenance that the District should incur during the fiscal year. This amount is based on prior year's cost with the inclusion of caretaker labor. Based on previous actual expenditures $30,000 has been budgeted for FY 2022.

Clubhouse Cleaning & Repairs
The District has contracted with companies for the monthly Clubhouse maintenance. The amount budgeted is $12,500, which also includes a contingency for miscellaneous repairs to the Clubhouse. Their services include:

-Damp mop all floors
-Clean 2 bathrooms inside
-Clean 2 bathrooms in pool area
-Wipe down cabinets and counters
-Sweep front & rear pool deck
-Spot clean upholstery when needed
-Miscellaneous repairs

Pool & Spa Maintenance
The District is contracted with Everclear Pool for the monthly maintenance at an annual cost of $8,100 with a contingency of $3,900. The monthly services include:

-Analyze Water
-Provide chemicals
-Brush side and floor of pool
-Clean tile and coping
-Vacuum pool
-Monitor and adjust heater
-Equipment checked and any problems reported.

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 $13,600 contingency. The monthly maintenance services include:

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

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.

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 and Fountain Maintenance
The District has contracted with BrightView to maintain and repair the irrigation system and Treasure Coast Aquatics to maintain 5 fountains. Budget includes $20,000 contingency for repairs and replacements.

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

Operating Supplies
Purchase of supplies for the District's pool, club house, etc.

Page 8

River Place on the St. Lucie
Community Development District

General Fund

Field: (continued)

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

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

Page 9

River Place on the St. Lucie
Community Development District

Debt Service Fund
Series 2001, Special Assessment Revenue Bonds

Adopted Budget
  FY 2021 

Actual Thru
 5/31/2021 

Projected Next
 4 Months 

Total Projected
 9/30/2021 

Adopted Budget
  FY 2022 

 Description	

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

$121,391
$178,076
$1,000

$8,037
$172,832
$7

$0
$10,459
$2

$8,037
$183,291
$9

$38,507
$182,102
$0

Total Revenues

$300,467

$180,876

$10,461

$191,337

$220,610

Expenditures

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

$65,003
$65,003
$120,000
$0

$11,090
$45,368
$85,000
$3,871

$0
$0
$0
$0

$11,090
$45,368
$85,000
$3,871

$42,128
$42,128
$90,000
$3,871

Total Expenditures

$250,006

$145,330

$0

$145,330

$178,127

Excess (deficiency) of revenues
Over (under) expenditures

$50,461

$35,546

$10,461

$46,007

$42,482

Other Financing Sources/(Uses)

Other Debt Service Costs

$0

($7,500)

$0

($7,500)

$0

Total Other Financing Sources/(Uses)

$0

($7,500)

$0

($7,500)

$0

Excess Revenues/(Expenditures)

$50,461

$28,046

$10,461

$38,507

$42,482

(1) Carry forward surplus is net of the reserve requirement and Series B is not included.

11/01/22 2001A Interest Payment

$38,697

$38,697

Page 10

River Place on the St. Lucie
Community Development District

Amortization Schedule
Series 2001A, Special Assessment Bonds

	DATE	

	BALANCE	

  RATE 

	PRINCIPAL	

	INTEREST	

	TOTAL	

11/1/2022
5/1/2023
11/1/2023
5/1/2024
11/1/2024
5/1/2025
11/1/2025
5/1/2026
11/1/2026
5/1/2027
11/1/2027
5/1/2028
11/1/2028
5/1/2029
11/1/2029
5/1/2030

$1,015,000.00
$1,015,000.00
$920,000.00
$920,000.00
$815,000.00
$815,000.00
$705,000.00
$705,000.00
$585,000.00
$585,000.00
$455,000.00
$455,000.00
$315,000.00
$315,000.00
$160,000.00
$160,000.00

7.625%
7.625%
7.625%
7.625%
7.625%
7.625%
7.625%
7.625%
7.625%
7.625%
7.625%
7.625%
7.625%
7.625%
7.625%
7.625%

$0.00
$95,000.00
$0.00
$105,000.00
$0.00
$110,000.00
$0.00
$120,000.00
$0.00
$130,000.00
$0.00
$140,000.00
$0.00
$155,000.00
$0.00
$165,000.00

$38,696.88
$38,696.88
$35,075.00
$35,075.00
$31,071.88
$31,071.88
$26,878.13
$26,878.13
$22,303.13
$22,303.13
$17,346.88
$17,346.88
$12,009.38
$12,009.38
$6,100.00
$6,100.00

$170,825.00
$0.00
$168,771.88
$0.00
$171,146.88
$0.00
$167,950.00
$0.00
$169,181.25
$0.00
$169,650.00
$0.00
$169,356.25
$0.00
$173,109.38
$171,100.00

Page 11

TOTAL	$1,110,000.00	$463,218.75	$1,714,677.64

11/1/2021	$1,105,000.00	7.625%	$0.00	$42,128.13	$172,496.88
5/1/2022	$1,105,000.00	7.625%	$90,000.00	$42,128.13	$0.00