Cypress Ridge
Community Development District

Adopted 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	Adopted Budget	
Description	FY2025	5/31/25	4 Months	9/30/25	FY2026	

Revenues						

Assessments- Tax Roll	
$	-	
$	-	
$	-	
$	-	
$	422,352	
Assessments- Direct	$	-	$	-	$	-	$	-	$	73,731	
Developer Contributions	$	274,454	$	160,000	$	62,780	$	222,780	$	-	
Total Revenues	$	274,454	$	160,000	$	62,780	$	222,780	$	496,083	

Expenditures						
General & Administrative
Supervisor Fees	
$	12,000	
$	2,000	
$	2,000	
$	4,000	
$	6,000	
FICA Expense	$	-	$	153	$	151	$	304	$	459	
Engineering	$	15,000	$	-	$	2,500	$	2,500	$	10,000	
Attorney	$	25,000	$	4,186	$	2,093	$	6,279	$	15,000	
Annual Audit	$	5,000	$	3,700	$	-	$	3,700	$	3,300	
Assessment Administration	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Arbitrage	$	900	$	450	$	-	$	450	$	900	
Dissemination	$	5,250	$	3,750	$	1,750	$	5,500	$	5,250	
Amortization Schedules	$	-	$	500	$	-	$	500	$	600	
Disclosure Software	$	-	$	1,500	$	-	$	1,500	$	1,500	
Trustee Fees	$	8,020	$	4,558	$	-	$	4,558	$	8,020	
Management Fees	$	38,955	$	25,970	$	12,985	$	38,955	$	40,124	
Information Technology	$	1,890	$	1,260	$	630	$	1,890	$	1,947	
Website Maintenance	$	1,260	$	840	$	420	$	1,260	$	1,298	
Postage & Delivery	$	600	$	787	$	394	$	1,181	$	600	
Insurance	$	6,429	$	5,814	$	-	$	5,814	$	6,686	
Copies	$	850	$	-	$	100	$	100	$	850	
Legal Advertising	$	7,500	$	1,273	$	5,541	$	6,813	$	2,500	
Contingency	$	5,000	$	657	$	329	$	986	$	2,500	
Office Supplies	$	625	$	5	$	3	$	8	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	139,454	$	62,578	$	28,894	$	91,473	$	113,333	

Operation and Maintenance
Field Expenses
Field Management	

$	15,000	

$	5,000	

$	2,500	

$	7,500	

$	15,000	
Property Insurance	$	10,000	$	-	$	-	$	-	$	10,000	
Landscape Maintenance	$	-	$	-	$	-	$	-	$	125,500	
Landscape Replacement & Enhancements	$	-	$	-	$	-	$	-	$	5,000	
Irrigation Repairs	$	-	$	-	$	-	$	-	$	2,500	
Lake Maintenance	$	-	$	-	$	-	$	-	$	25,000	
Electric	$	-	$	-	$	-	$	-	$	5,000	
Streetlighting	$	-	$	-	$	-	$	-	$	95,000	
General Field Contingency	$	100,000	$	51,807	$	72,000	$	123,807	$	10,000	
Total Field Expenses	$	125,000	$	56,807	$	74,500	$	131,307	$	293,000	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2025	5/31/25	4 Months	9/30/25	FY2026	

Amenity Expenses
Amenity Management	
$	10,000	
$	-	$	-	$	-	$	8,583	
Amenity - Electric	$	-	$	-	$	-	$	-	$	12,500	
Amenity- Water	$	-	$	-	$	-	$	-	$	4,167	
Internet	$	-	$	-	$	-	$	-	$	2,500	
Pest Control	$	-	$	-	$	-	$	-	$	1,250	
Janitorial Services	$	-	$	-	$	-	$	-	$	15,417	
Pool Maintenance	$	-	$	-	$	-	$	-	$	22,500	
Amenity Repairs and Maintenance	$	-	$	-	$	-	$	-	$	8,333	
Contingency	$	-	$	-	$	-	$	-	$	14,500	
Total Amenity Expenses	$	10,000	$	-	$	-	$	-	$	89,750	
			
Total Expenditures	$	274,454	$	119,386  $	103,394  $	222,780  $	496,083	

Other Financing Sources/Uses:
Capital Reserve	

$	-	

$	-  $	-  $	-  $	-	
Total Other Financing Sources/Uses	$	-	$	-  $	-  $	-  $	-	

Excess Revenues/(Expenditures)	$	-	$	40,614	$	(40,614)	$	-	$	-	
											
Net Assessments  $	496,083
Discounts and Collections (6%)  $		31,665  Gross Assessments  $	527,748 

Development	
Units	Net
Assessments	Net
Per Unit	Gross
Per Unit	
Single Family	369	$  422,352.24	$	1,144.59	$	1,217.64	
Unplatted Lots - Direct	687	$	73,731.01	$	107.32	$	114.17	
Total	1056	$ 496,083.25			

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.

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

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

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

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

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

Amenity Expenses

Amenity Management
Amenity Management provides access card issuance through registration, proof of residency, and photo identification. The team also provides keycard troubleshooting for issues and concerns related to access control. Staff reviews security concerns and amenity policy violations via remote camera monitoring on an as-needed basis. Districts are provided electronic communication for District news and direct remote customer service through phone and email directly to the Amenity Access Team.

Amenity - Electric
Represents estimated electric charges for the District’s amenity facility.

Amenity – Water
Represents estimated water charges for the District’s amenity facility.

Internet
Represents the cost of internet service for the amenity facility.

Pest Control
The District will incur costs for pest control treatments to its amenity facilities.

Janitorial Services
Represents the costs to provide janitorial services for the District’s amenity facilities.

Pool Maintenance
Represents the costs to routine cleaning, chemical treatments, debris removal, vacuuming, tile cleaning, and skimming to the District pool.
Amenity Repairs & Maintenance
Represents estimated costs for repairs and maintenance of the District’s amenity facilities and equipment.

Contingency
Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.

Adopted Budget
Series 2023 Debt Service Fund

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2025	5/31/25	4 Months	9/30/25	FY2026	

Revenues						
Assessments - Direct	$	913,238	$	519,530	$	358,497	$	878,027	$	787,857	
Assessments- Prepayment	$	-	$	689,546	$	150,000	$	839,546		
Interest	$	-	$	31,610	$	5,000	$	36,610	$	-	
Carry Forward Surplus	$	124,986	$	939,389	$	-	$	939,389	$	450,873	
Total Revenues	$ 1,038,224	$ 2,180,076	$	513,497	$ 2,693,573	$ 1,238,730	

Expenditures						
Interest Expense - 11/1	$	364,425	$	364,425	$	-	$	364,425	$	335,000	
Principal Expense - 5/1	$	185,000	$	185,000	$	-	$	185,000	$	185,000	
Interest Expense - 5/1	$	364,425	$	363,006	$	-	$	363,006	$	335,000	
Interest Expense - 2/1	$	-	$	709	$	-	$	709	$	-	
Special Call - 2/1	$	-	$	50,000	$	-	$	50,000	$	-	
Interest Expense - 5/1	$	-	$	-	$	-	$	-	$	-	
Special Call - 5/1	$	-	$	170,000	$	-	$	170,000	$	-	
Special Call - 8/1	$	-	$	-	$	655,000	$	655,000	$	-	
Total Expenditures	$	913,850	$ 1,133,141	$	655,000	$ 1,788,141	$	855,000	

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	$	592,376	$	(141,503)	$	450,873	$	383,730	

Interest Expense 11/1/26	 $	330,491 
Total	$	330,491

Development	
Units	Net
Assessments	Net
Per Unit	Gross
Per Unit	
Single Family 40'	99	$	205,123.05	$	2,071.95	$	2,204.20	
Single Family 50'	177	$	458,417.61	$	2,589.93	$	2,755.25	
Single Family 60'	40	$	124,316.80	$	3,107.92	$	3,306.30	
Total	316	$ 787,857.46			

Period Ending	Principal Balance		Annual Principal	
Interest Rate	
Interest	Annual Debt	
							
11/01/25	$11,760,000			4.875%	$335,000.00	$335,000.00	
05/01/26	$11,760,000	$	185,000.00	4.875%	$335,000.00		
11/01/26	$11,575,000			4.875%	$330,490.63	$850,490.63	
05/01/27	$11,575,000	$	190,000.00	4.875%	$330,490.63		
11/01/27	$11,385,000			4.875%	$325,859.38	$846,350.01	
05/01/28	$11,385,000	$	200,000.00	4.875%	$325,859.38		
11/01/28	$11,185,000			4.875%	$320,984.38	$846,843.76	
05/01/29	$11,185,000	$	210,000.00	4.875%	$320,984.38		
11/01/29	$10,975,000			4.875%	$315,865.63	$846,850.01	
05/01/30	$10,975,000	$	220,000.00	4.875%	$315,865.63		
11/01/30	$10,755,000			5.625%	$310,503.13	$846,368.76	
05/01/31	$10,755,000	$	235,000.00	5.625%	$310,503.13		
11/01/31	$10,520,000			5.625%	$303,893.75	$849,396.88	
05/01/32	$10,520,000	$	245,000.00	5.625%	$303,893.75		
11/01/32	$10,275,000			5.625%	$297,003.13	$845,896.88	
05/01/33	$10,275,000	$	260,000.00	5.625%	$297,003.13		
11/01/33	$10,015,000			5.625%	$289,690.63	$846,693.76	
05/01/34	$10,015,000	$	275,000.00	5.625%	$289,690.63		
11/01/34	$9,740,000			5.625%	$281,956.25	$846,646.88	
05/01/35	$9,740,000	$	290,000.00	5.625%	$281,956.25		
11/01/35	$9,450,000			5.625%	$273,800.00	$845,756.25	
05/01/36	$9,450,000	$	310,000.00	5.625%	$273,800.00		
11/01/36	$9,140,000			5.625%	$265,081.25	$848,881.25	
05/01/37	$9,140,000	$	325,000.00	5.625%	$265,081.25		
11/01/37	$8,815,000			5.625%	$255,940.63	$846,021.88	
05/01/38	$8,815,000	$	345,000.00	5.625%	$255,940.63		
11/01/38	$8,470,000			5.625%	$246,237.50	$847,178.13	
05/01/39	$8,470,000	$	365,000.00	5.625%	$246,237.50		
11/01/39	$8,105,000			5.625%	$235,971.88	$847,209.38	
05/01/40	$8,105,000	$	385,000.00	5.625%	$235,971.88		
11/01/40	$7,720,000			5.625%	$225,143.75	$846,115.63	
05/01/41	$7,720,000	$	410,000.00	5.625%	$225,143.75		
11/01/41	$7,310,000			5.625%	$213,612.50	$848,756.25	
05/01/42	$7,310,000	$	435,000.00	5.625%	$213,612.50		
11/01/42	$6,875,000			5.625%	$201,378.13	$849,990.63	
05/01/43	$6,875,000	$	460,000.00	5.625%	$201,378.13		
11/01/43	$6,415,000			5.625%	$188,440.63	$849,818.76	
05/01/44	$6,415,000	$	485,000.00	5.875%	$188,440.63		

Period Ending	Principal Balance	Annual Principal	
Interest Rate	
Interest	Annual Debt	

11/01/44	
$5,930,000		
5.875%	
$174,193.75	
$847,634.38	
05/01/45	$5,930,000  $	515,000.00	5.875%	$174,193.75		
11/01/45	$5,415,000		5.875%	$159,065.63	$848,259.38	
05/01/46	$5,415,000  $	545,000.00	5.875%	$159,065.63		
11/01/46	$4,870,000		5.875%	$143,056.25	$847,121.88	
05/01/47	$4,870,000  $	580,000.00	5.875%	$143,056.25		
11/01/47	$4,290,000		5.875%	$126,018.75	$849,075.00	
05/01/48	$4,290,000  $	615,000.00	5.875%	$126,018.75		
11/01/48	$3,675,000		5.875%	$107,953.13	$848,971.88	
05/01/49	$3,675,000  $	650,000.00	5.875%	$107,953.13		
11/01/49	$3,025,000		5.875%	$88,859.38	$846,812.51	
05/01/50	$3,025,000  $	690,000.00	5.875%	$88,859.38		
11/01/50	$2,335,000		5.875%	$68,590.63	$847,450.01	
05/01/51	$2,335,000  $	735,000.00	5.875%	$68,590.63		
11/01/51	$1,600,000		5.875%	$47,000.00	$850,590.63	
05/01/52	$1,600,000  $	775,000.00	5.875%	$47,000.00		
11/01/52	$825,000		5.875%	$24,234.38	$846,234.38	
05/01/53	$825,000  $	825,000.00	5.875%	$24,234.38		
11/01/53					$849,234.38	
Total	$	11,760,000.00		$12,311,650.16	$24,071,650.16