Cypress Ridge
Community Development District

Proposed Budget
FY2026

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Table of Contents

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	General Fund

	General Fund Narrative

	Debt Service Series 2023

	Amortization Schedule- Debt Service Series 2023

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
	Description	FY2025	2/28/25	7 Months	9/30/25	FY2026	

Revenues							

Assessments- Tax Roll
Assessments- Direct	$	-	$	-	$	-	$	-	$	581,471
$	-	$	-	$	-	$	-	$	92,571	
Developer Contributions	$	274,454	$	80,000	$	110,957	$	190,957	$	-	
Total Revenues	$	274,454	$	80,000	$	110,957	$	190,957	$	674,042	

Expenditures
General & Administrative
Supervisor Fees	$	12,000	$	1,000	

$	4,000	

$	5,000	

$	12,000	
FICA Expense	$	-	$	77	$	302	$	379	$	918	
Engineering	$	15,000	$	-	$	2,500	$	2,500	$	15,000	
Attorney	$	25,000	$	147	$	234	$	381	$	25,000	
Annual Audit	$	5,000	$	-	$	3,200	$	3,200	$	3,300	
Assessment Administration	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Arbitrage	$	900	$	450	$	-	$	450	$	900	
Dissemination	$	5,250	$	2,238	$	3,063	$	5,300	$	5,250	
Amortization Schedules	$	-	$	200	$	-	$	200	$	600	
Disclosure Software	$	-	$	1,500	$	-	$	1,500	$	1,500	
Trustee Fees	$	8,020	$	-	$	4,558	$	4,558	$	8,020	
Management Fees	$	38,955	$	16,231	$	22,724	$	38,955	$	40,124	
Information Technology	$	1,890	$	788	$	1,103	$	1,890	$	1,947	
Website Maintenance	$	1,260	$	525	$	735	$	1,260	$	1,298	
Postage & Delivery	$	600	$	466	$	652	$	1,118	$	600	
Insurance	$	6,429	$	5,814	$	-	$	5,814	$	6,686	
Copies	$	850	$	-	$	150	$	150	$	850	
Legal Advertising	$	7,500	$	-	$	2,500	$	2,500	$	7,500	
Contingency	$	5,000	$	339	$	474	$	812	$	5,000	
Office Supplies	$	625	$	3	$	4	$	6	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	139,454	$	34,950	$	46,198	$	81,148	$	142,292	

Operation and Maintenance						
Field Expenses						
Field Management	$	15,000	$	3,125	$	4,375	$	7,500	$	15,450	
Property Insurance	$	10,000	$	-	$	-	$	-	$	10,000	
Landscape Maintenance	$	-	$	-	$	-	$	-	$	120,000	
Landscape Replacement & Enhancements	$	-	$	-	$	-	$	-	$	5,000	
Irrigation Repairs	$	-	$	-	$	-	$	-	$	5,000	
Lake Maintenance	$	-	$	-	$	-	$	-	$	8,500	
Electric	$	-	$	-	$	-	$	-	$	5,000	
Streetlighting	$	-	$	-	$	-	$	-	$	100,000	
Water & Sewer	$	-	$	-	$	-	$	-	$	5,000	
General Field Contingency	$	100,000	$	21,309	$	81,000	$	102,309	$	20,000	
Total Field Expenses	$	125,000	$	24,434	$	85,375	$	109,809	$	293,950	

Adopted Budget
Description	FY2025	Actuals Thru 2/28/25	Projected Next
7 Months	Projected Thru 9/30/25	Proposed Budget FY2026	

Amenity Expenses Amenity Management Amenity - Electric Amenity- Water Internet
Pest Control Janitorial Services Security/Staffing Pool Maintenance
Amenity Repairs and Maintenance Holiday Décor
Contingency	

$	10,000
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-	

$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-	

$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-	

$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-	

$
$
$
$
$
$
$
$
$
$
$	

10,300
15,000
5,000
3,000
1,500
18,500
30,000
27,000
12,500
7,500
7,500	
Total Amenity Expenses	$	10,000	$	-	$	-	$	-	$	137,800	
							
Total Expenditures	$	274,454	$	59,384	$	131,573	$	190,957	$	574,042	

Other Financing Sources/Uses:
Capital Reserve	

$	-	

$	-	

$	-	

$	-	

$	

(100,000)	
Total Other Financing Sources/Uses	$	-	$	-	$	-	$	-	$	(100,000)	

Excess Revenues/(Expenditures)	$	-	$	20,616	$	(20,616)	$	-	$	-	
											
Net Assessments  $	674,042
Discounts and Collections (6%)  $		43,024  Gross Assessments  $	717,066 

Development	
Units	Net
Assessments	Net
Per Unit	Gross
Per Unit	
Single Family	369	$	581,471.44	$	1,575.80	$	1,676.39	
Unplatted Lots - Direct	687	$	92,570.81	$	134.75	$	143.35	
Total	1056	$ 674,042.25			

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for operating expenditures during the fiscal year

Expenditures:

General & Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed
$4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

Engineering

The District's engineer provides general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel provides general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the Series 2023 Special Assessment Revenue Bonds.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon an anticipated bond issuance.

Trustee Fees

The District will incur trustee related costs with the Series 2023 Special Assessment Revenue Bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc.

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.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverages.

Copies

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

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

Contingency

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for
$175. This is the only expense under this category for the District.

Operations & Maintenance:

Field Expenses

Field Management

Represents the cost for onsite field management of contracts for the District such as landscape and lake maintenance. Services include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Property Insurance

The District’s property insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Landscape Maintenance

Represents the estimated cost provide for maintenance of the landscaping within the District. These services include mowing, edging, trimming, weed and disease control, fertilization, pest control, pruning, and irrigation inspections.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Lake Maintenance

Represents the estimated cost for the care and maintenance of its lakes which includes shoreline grass, brush and vegetation control.

Streetlights

Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Sidewalk & Asphalt Repairs

Represents the cost of maintaining and repairing the sidewalks and asphalt throughout the District’s Boundary.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

Field Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas. These can include pressure washing, and repairs to fences, monuments, lighting and other assets.

General Field Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year for any field category.

Proposed Budget
Series 2023 Debt Service Fund

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2025	2/28/25	7 Months	9/30/25	FY2026	

Revenues						
Assessments - Direct	$	913,238	$	-	$	906,503	$	906,503	$	868,663	
Assessments- Prepayment	$	-	$	17,676	$	130,000	$	147,676		
Interest	$	-	$	21,354	$	5,000	$	26,354	$	-	
Carry Forward Surplus	$	124,986	$	933,594	$	-	$	933,594	$	425,427	
Total Revenues	$ 1,038,224	$	972,624	$ 1,041,503	$ 2,014,127	$ 1,294,091	

Expenditures						
Interest Expense - 11/1	$	364,425	$	364,425	$	-	$	364,425	$	353,641	
Principal Expense - 5/1	$	185,000	$	-	$	185,000	$	185,000	$	195,000	
Interest Expense - 5/1	$	364,425	$	-	$	363,006	$	363,006	$	353,641	
Interest Expense - 2/1	$	-	$	709	$	-	$	709	$	-	
Special Call - 2/1	$	-	$	50,000	$	-	$	50,000	$	-	
Interest Expense - 5/1	$	-	$	-	$	1,000	$	1,000	$	-	
Special Call - 5/1	$	-	$	-	$	170,000	$	170,000	$	-	
Total Expenditures	$	913,850	$	415,134	$	719,006	$ 1,134,141	$	902,281	

Other Financing Sources/(Uses)
Transfer In/(Out)	

$	-	

$	(454,559)	

$	-	

$	(454,559)	

$	-	
Total Other Financing Sources/(Uses)	$	-	$	(454,559)	$	-	$	(454,559)	$	-	
						
Excess Revenues/(Expenditures)	$	124,374	$	102,930	$	322,497	$	425,427	$	391,809	

Interest Expense 11/1/26	 $	348,888 
Total	$	348,888

Development	
Units	Net
Assessments	Net
Per Unit	Gross
Per Unit	
Single Family 40'	113	$	234,130.35	$	2,071.95	$	2,204.20	
Single Family 50'	197	$	510,216.21	$	2,589.93	$	2,755.25	
Single Family 60'	40	$	124,316.80	$	3,107.92	$	3,306.30	
Total	350	$ 868,663.36			

Period	Principal	Annual			Annual	
Ending	Balance	Principal	Interest Rate	Interest	Debt	

11/01/25	$12,415,000		4.875%	$353,640.63	$353,640.63	
05/01/26	$12,415,000	$	195,000.00	4.875%	$353,640.63		
11/01/26	$12,220,000		4.875%	$348,887.50	$897,528.13	
05/01/27	$12,220,000	$	200,000.00	4.875%	$348,887.50		
11/01/27	$12,020,000		4.875%	$344,012.50	$892,900.00	
05/01/28	$12,020,000	$	210,000.00	4.875%	$344,012.50		
11/01/28	$11,810,000		4.875%	$338,893.75	$892,906.25	
05/01/29	$11,810,000	$	225,000.00	4.875%	$338,893.75		
11/01/29	$11,585,000		4.875%	$333,409.38	$897,303.13	
05/01/30	$11,585,000	$	235,000.00	4.875%	$333,409.38		
11/01/30	$11,350,000		5.625%	$327,681.25	$896,090.63	
05/01/31	$11,350,000	$	245,000.00	5.625%	$327,681.25		
11/01/31	$11,105,000		5.625%	$320,790.63	$893,471.88	
05/01/32	$11,105,000	$	260,000.00	5.625%	$320,790.63		
11/01/32	$10,845,000		5.625%	$313,478.13	$894,268.76	
05/01/33	$10,845,000	$	275,000.00	5.625%	$313,478.13		
11/01/33	$10,570,000		5.625%	$305,743.75	$894,221.88	
05/01/34	$10,570,000	$	290,000.00	5.625%	$305,743.75		
11/01/34	$10,280,000		5.625%	$297,587.50	$893,331.25	
05/01/35	$10,280,000	$	310,000.00	5.625%	$297,587.50		
11/01/35	$9,970,000		5.625%	$288,868.75	$896,456.25	
05/01/36	$9,970,000	$	325,000.00	5.625%	$288,868.75		
11/01/36	$9,645,000		5.625%	$279,728.13	$893,596.88	
05/01/37	$9,645,000	$	345,000.00	5.625%	$279,728.13		
11/01/37	$9,300,000		5.625%	$270,025.00	$894,753.13	
05/01/38	$9,300,000	$	365,000.00	5.625%	$270,025.00		
11/01/38	$8,935,000		5.625%	$259,759.38	$894,784.38	
05/01/39	$8,935,000	$	385,000.00	5.625%	$259,759.38		
11/01/39	$8,550,000		5.625%	$248,931.25	$893,690.63	
05/01/40	$8,550,000	$	410,000.00	5.625%	$248,931.25		
11/01/40	$8,140,000		5.625%	$237,400.00	$896,331.25	
05/01/41	$8,140,000	$	430,000.00	5.625%	$237,400.00		
11/01/41	$7,710,000		5.625%	$225,306.25	$892,706.25	
05/01/42	$7,710,000	$	455,000.00	5.625%	$225,306.25		
11/01/42	$7,255,000		5.625%	$212,509.38	$892,815.63	
05/01/43	$7,255,000	$	485,000.00	5.625%	$212,509.38		
11/01/43	$6,770,000		5.625%	$198,868.75	$896,378.13	
05/01/44	$6,770,000	$	510,000.00	5.875%	$198,868.75		

Period Ending	Principal Balance	Annual Principal	
Interest Rate	
Interest	Annual Debt	

11/01/44	
$6,260,000		
5.875%	
$183,887.50	
$892,756.25	
05/01/45	$6,260,000	$	545,000.00	5.875%	$183,887.50		
11/01/45	$5,715,000		5.875%	$167,878.13	$896,765.63	
05/01/46	$5,715,000	$	575,000.00	5.875%	$167,878.13		
11/01/46	$5,140,000		5.875%	$150,987.50	$893,865.63	
05/01/47	$5,140,000	$	610,000.00	5.875%	$150,987.50		
11/01/47	$4,530,000		5.875%	$133,068.75	$894,056.25	
05/01/48	$4,530,000	$	650,000.00	5.875%	$133,068.75		
11/01/48	$3,880,000		5.875%	$113,975.00	$897,043.75	
05/01/49	$3,880,000	$	685,000.00	5.875%	$113,975.00		
11/01/49	$3,195,000		5.875%	$93,853.13	$892,828.13	
05/01/50	$3,195,000	$	730,000.00	5.875%	$93,853.13		
11/01/50	$2,465,000		5.875%	$72,409.38	$896,262.51	
05/01/51	$2,465,000	$	775,000.00	5.875%	$72,409.38		
11/01/51	$1,690,000		5.875%	$49,643.75	$897,053.13	
05/01/52	$1,690,000	$	820,000.00	5.875%	$49,643.75		
11/01/52	$870,000		5.875%	$25,556.25	$895,200.00	
05/01/53	$870,000	$	870,000.00	5.875%	$25,556.25		
11/01/53					$895,556.25	
Total		$ 12,415,000.00		$12,993,562.60	$25,408,562.60