Coastal Ridge
Community Development District

Approved Budget
FY2026

June 3, 2025

6MS

Table of Contents

1

2-3

4

5

	General Fund

	Narratives

	Debt Service Fund Series 2021

	Series 2021 Amortization Schedule

6		Assessment Schedule

Approved Budget General Fund

Approved	Actuals Thru  Projected Next Projected Thru	Approved Budget			Budget	
Description	FY 2025 (1)	4/30/25	  5 Months		9/30/25	FY 2026	

REVENUES:						
Special Assessments/Developer Contributions	$	-	$	-	$	-	$	-	$	127,403	
Developer Contributions	75,511	64,123	27,504	91,627	-	
Interest income	-	-	-	-	-	
Carry Forward Surplus	-	-	-	-	-	
TOTAL REVENUES	$	75,511	$	64,123	$	27,504	$	91,627	$  127,403	

EXPENDITURES:						
Administrative:						
Supervisor Fees	$	7,000	$	-	$	6,400	$	6,400	$	12,000	
FICA Expenses	536	-	490	490	918	
Engineering Fees	7,000	-	3,500	3,500	12,000	
Attorney	14,583	-	7,292	7,292	25,000	
Annual Audit	3,200	-	-	-	3,100	
Arbitrage Rebate	-	-	-	-	450	
Assessment Roll Administration	-	-	-	-	7,500	
Management Fees	26,250	7,500	18,750	26,250	45,000	
Information Technology	875	300	750	1,050	1,500	
Website Administration	700	200	500	700	1,500	
Website Creation/ADA Compliance	1,750	1,750	-	1,750	960	
Dissemination Agent	-	-	-	-	3,000	
Telephone	300	-	150	150	500	
Postage	875	-	438	438	1,500	
Insurance	3,000	2,973	-	2,973	5,000	
Builder's Risk Insurance	-	35,219	-	35,219	-	
Printing & Binding	700	29	671	700	1,200	
Legal Advertising	8,000	-	4,000	4,000	5,000	
Other Current Charges	300	-	300	300	600	
Office Supplies	292	-	292	292	500	
Dues, Licenses & Subscriptions	150	125	-	125	175	
TOTAL ADMINISTRATIVE	$	75,511	$	48,096	$	43,531	$	91,627	$  127,403	
						
TOTAL EXPENDITURES	$	75,511	$	48,096	$	43,531	$	91,627	$  127,403	
						
EXCESS REVENUES (EXPENDITURES)	$	-	$	16,027	$	(16,027)	$	-	$	-	
(1) All expenses prorated amount represents 7 months of fiscal year.			
	Gross Assessments	$	137,733	
	Less: Discounts & Collections 7.5%		10,330 	
	Net Assessments	 $  127,403 	

Product

Assessable Units

Total Gross Assessment

FY25
Gross Per Unit

FY26
Gross Per Unit

Increase/ (Decrease)

Townhome	90	$  11,258.83	$	-  $	125.10	$	125.10	
40' Lot	107	$  13,385.49	$	-  $	125.10	$	125.10	
50' Lot	385	$  48,162.76	$	-  $	125.10	$	125.10	
60' Lot	418	$  52,290.99	$	-  $	125.10	$	125.10	
70' Lot	72	$	9,007.06	$	-  $	125.10	$	125.10	
80' Lot	29	$	3,627.84	$	-  $	125.10	$	125.10	
Total	1101	$  137,733			

REVENUES

Special Assessments
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 or direct bill developers to cover operating expenses.
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.
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 the approved engagement letter.
Arbitrage Rebate
The District is required to annually have an arbitrage rebate calculation on the District’s Series 2025 Special Assessment Revenue Bonds. The District will contract with an Independent Certified Accounting Firm. to calculate the rebate liability and submit a report to the District.
Assessment Roll Administration
GMS NF, 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 NF, 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-NF, LLC and updated monthly.
Website Creation/ADA Compliance
Costs to create the initial District website and ensure the District meets ADA compliance guidelines.
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.

Telephone
New internet and Wi-Fi service for Office.

Expenditures - Administrative (continued)

Postage and Delivery
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 based upon similar Community Development Districts.
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 Commerce for $175.

Approved Budget
Debt Service Series 2025 Special Assessment Bonds

Approved Budget FY 2025

Actuals Thru  Projected Next  Projected Thru
4/30/25

Description

  5 Months	

9/30/25

Approved Budget FY 2026

REVENUES:

Special Assessments-On Roll Special Assessments-Direct Interest Earnings
Carry Forward Surplus (1)	$	-  $	-  $	-  $	-  $	-
-	-	-	-	2,159,277
-	-	-	-	-
-	-	-	-	707,338	
TOTAL REVENUES	$	-  $	-  $	-  $	-  $ 2,866,615	

EXPENDITURES:		
Series 2025		
Interest - 11/01	$	-  $	-  $	-  $	-  $	707,338	
Interest - 05/01	-	-	-	-	878,075	
Principal - 05/01	-	-	-	-	410,000	
TOTAL EXPENDITURES	$	-  $	-  $	-  $	-  $ 1,995,413	

Other Sources/(Uses)		
Interfund transfer In/(Out)	$	-  $	-  $	-  $	-  $	-	
Bond Proceed	-	-	3,474,013	3,474,013	-	
TOTAL OTHER SOURCES/(USES)	$	-  $	-	$ 3,474,013	$ 3,474,013	$	-	
					
EXCESS REVENUES (EXPENDITURES)	$	-  $	-	$ 3,474,013	$ 3,474,013	$  871,202	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/26

$869,055

$869,055

Gross Assessments	$  2,334,354	
Less: Discounts & Collections 7.5%		175,077 	
Net Assessments	 $ 2,159,277 	

Product

Assessable Units

Total Gross Assessment

FY25
Gross Per Unit

FY26
Gross Per Unit

Increase/ (Decrease)

Townhome	90	$ 141,120.00	$	-  $	1,568.00	$	1,568.00	
40' Lot	107	$ 214,000.00	$	-  $	2,000.00	$	2,000.00	
50' Lot	385	$ 811,580.00	$	-  $	2,108.00	$	2,108.00	
60' Lot	418	$ 926,288.00	$	-  $	2,216.00	$	2,216.00	
70' Lot	72	$ 169,272.00	$	-  $	2,351.00	$	2,351.00	
80' Lot	29	$  72,094.00	$	-  $	2,486.00	$	2,486.00	
Total	1101	$ 2,334,354	

AMORTIZATION SCHEDULE
Debt Service Series 2025 Special Assessment Bonds

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
11/01/25	$	30,365,000	4.400% $	-  $	707,338	$	707,338	
05/01/26	30,365,000	4.400%	410,000	878,075		
11/01/26	29,955,000	4.400%	-	869,055	2,157,130	
05/01/27	29,955,000	4.400%	430,000	869,055		
11/01/27	29,525,000	4.400%	-	859,595	2,158,650	
05/01/28	29,525,000	4.400%	450,000	859,595		
11/01/28	29,075,000	4.400%	-	849,695	2,159,290	
05/01/29	29,075,000	4.400%	470,000	849,695		
11/01/29	28,605,000	4.400%	-	839,355	2,159,050	
05/01/30	28,605,000	4.400%	490,000	839,355		
11/01/30	28,115,000	4.400%	-	828,575	2,157,930	
05/01/31	28,115,000	5.750%	515,000	828,575		
11/01/31	27,600,000	5.750%	-	813,769	2,157,344	
05/01/32	27,600,000	5.750%	545,000	813,769		
11/01/32	27,055,000	5.750%	-	798,100	2,156,869	
05/01/33	27,055,000	5.750%	575,000	798,100		
11/01/33	26,480,000	5.750%	-	781,569	2,154,669	
05/01/34	26,480,000	5.750%	610,000	781,569		
11/01/34	25,870,000	5.750%	-	764,031	2,155,600	
05/01/35	25,870,000	5.750%	650,000	764,031		
11/01/35	25,220,000	5.750%	-	745,344	2,159,375	
05/01/36	25,220,000	5.750%	685,000	745,344		
11/01/36	24,535,000	5.750%	-	725,650	2,155,994	
05/01/37	24,535,000	5.750%	725,000	725,650		
11/01/37	23,810,000	5.750%	-	704,806	2,155,456	
05/01/38	23,810,000	5.750%	770,000	704,806		
11/01/38	23,040,000	5.750%	-	682,669	2,157,475	
05/01/39	23,040,000	5.750%	815,000	682,669		
11/01/39	22,225,000	5.750%	-	659,238	2,156,906	
05/01/40	22,225,000	5.750%	865,000	659,238		
11/01/40	21,360,000	5.750%	-	634,369	2,158,606	
05/01/41	21,360,000	5.750%	915,000	634,369		
11/01/41	20,445,000	5.750%	-	608,063	2,157,431	
05/01/42	20,445,000	5.750%	970,000	608,063		
11/01/42	19,475,000	5.750%	-	580,175	2,158,238	
05/01/43	19,475,000	5.750%	1,025,000	580,175		
11/01/43	18,450,000	5.750%	-	550,706	2,155,881	
05/01/44	18,450,000	5.750%	1,085,000	550,706		
11/01/44	17,365,000	5.750%	-	519,513	2,155,219	
05/01/45	17,365,000	5.750%	1,150,000	519,513		
11/01/45	16,215,000	5.750%	-	486,450	2,155,963	
05/01/46	16,215,000	6.000%	1,220,000	486,450		
11/01/46	14,995,000	6.000%	-	449,850	2,156,300	
05/01/47	14,995,000	6.000%	1,295,000	449,850		
11/01/47	13,700,000	6.000%	-	411,000	2,155,850	
05/01/48	13,700,000	6.000%	1,375,000	411,000		
11/01/48	12,325,000	6.000%	-	369,750	2,155,750	
05/01/49	12,325,000	6.000%	1,460,000	369,750		
11/01/49	10,865,000	6.000%	-	325,950	2,155,700	
05/01/50	10,865,000	6.000%	1,550,000	325,950		
11/01/50	9,315,000	6.000%	-	279,450	2,155,400	
05/01/51	9,315,000	6.000%	1,645,000	279,450		
11/01/51	7,670,000	6.000%	-	230,100	2,154,550	
05/01/52	7,670,000	6.000%	1,750,000	230,100		
11/01/52	5,920,000	6.000%	-	177,600	2,157,700	
05/01/53	5,920,000	6.000%	1,855,000	177,600		
11/01/53	4,065,000	6.000%	-	121,950	2,154,550	
05/01/54	4,065,000	6.000%	1,970,000	121,950		
11/01/54	2,095,000	6.000%	-	62,850	2,154,800	
05/01/55	2,095,000	6.000%	2,095,000	62,850	2,157,850	
Total		$	30,365,000  $	35,043,863	$  65,408,863	

Non-Ad Valorem Assessments Comparison 2025-2026

Neighborhood	O&M Units	Bonds 2025
Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2026	
FY 2025 (1)	Increase/ (decrease)	
FY 2026	
FY 2025 (1)	Increase/ (decrease)	
FY 2026	
FY 2025 (1)	Increase/ (decrease)	

Townhome	
90	
90	
$125.10	
$0.00	
$125.10	
$1,568.00	
$0.00	
$1,568.00	
$1,693.10	
$0.00	
$1,693.10	
40' Lot	107	107	$125.10	$0.00	$125.10	$2,000.00	$0.00	$2,000.00	$2,125.10	$0.00	$2,125.10	
50' Lot	385	385	$125.10	$0.00	$125.10	$2,108.00	$0.00	$2,108.00	$2,233.10	$0.00	$2,233.10	
60' Lot	418	418	$125.10	$0.00	$125.10	$2,216.00	$0.00	$2,216.00	$2,341.10	$0.00	$2,341.10	
70' Lot	72	72	$125.10	$0.00	$125.10	$2,351.00	$0.00	$2,351.00	$2,476.10	$0.00	$2,476.10	
80' Lot	29	29	$125.10	$0.00	$125.10	$2,486.00	$0.00	$2,486.00	$2,611.10	$0.00	$2,611.10	
Total	1101	1101