Coastal Ridge
Community Development District

Proposed Budget
FY 2025 and FY 2026

March 3, 2025

Coastal Ridge
Community Development District

TABLE OF CONTENTS

General Fund
Budget	Page 1
Narrative	Page 2-3

Coastal Ridge		
Community Development District		
	Proposed Budget
FY 2025 (1)	Proposed Budget FY 2026	

Revenues			
Developer Contributions	$	75,511	$	127,053	
Total Revenues	$	75,511	$	127,053	

Expenditures			
Administrative			
Supervisors Fees	$	7,000	$	12,000	
FICA Expense	$	536	$	918	
Annual Audit	$	3,200	$	3,200	
Dissemination Agent	$	-	$	3,000	
Engineering	$	7,000	$	12,000	
Attorney	$	14,583	$	25,000	
Assessment Administration	$	-	$	7,500	
Management Fees	$	26,250	$	45,000	
Information Technology	$	875	$	1,500	
Website Creation/ADA Compliance	$	1,750	$	960	
Website Maintenance	$	700	$	1,500	
Telephone	$	300	$	500	
Postage	$	875	$	1,500	
Insurance	$	3,000	$	5,000	
Printing & Binding	$	700	$	1,200	
Legal Advertising	$	8,000	$	5,000	
Other Current Charges	$	300	$	600	
Office Supplies	$	292	$	500	
Dues, Licenses & Subscriptions	$	150	$	175	
Total Expenditures	$	75,511	$	127,053	
			
Excess Revenues/(Expenditures)	$	-	$	-	

(1) All expenses prorated amount represents 7 months of fiscal year.			

Coastal Ridge
Community Development District
Budget Narrative

REVENUES

Developer Contribution
It is presently anticipated that the District will enter into a Funding Agreement with the Developer to fund General Fund Expenditures for the Fiscal Year.

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 12 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.
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 estimated cost.
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.
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.
Assessment Roll Administration
GMS, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
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 Creation/ADA Compliance
Costs to create the initial District website and ensure the District meets ADA compliance guidelines.

Expenditures - Administrative (continued)

Coastal Ridge
Community Development District
Budget Narrative

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.
Telephone
Internet, Phone and Wi-Fi service for Office.
Postage
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.
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 an 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 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 Florida Department of Commerce for $175.