Cypress Ridge
Community Development District

Proposed Budget
FY2027

Table of Contents

1-2

3-6

7

8-9

	General Fund

	General Fund Narrative

	Debt Service Series 2023

	Amortization Schedule- Debt Service Series 2023

Description	Adopted Budget FY2026	Actuals Thru 2/28/26	Projected Next
7 Months	Projected Thru 9/30/26	Proposed Budget FY2027	

Revenues						

Assessments- Tax Roll	
$	422,352	
$	423,271	
$	-	
$	423,271	
$	581,473	
Assessments- Direct	73,731	55,297	18,434	73,731	75,268	
Developer Contributions	-	-	-	-	28,128	
Total Revenues	$	496,083	$	478,568	$	18,434	$	497,002	$	684,868	

Expenditures						
General & Administrative
Supervisor Fees	
$	6,000	
$	1,600	
$	2,240	
$	3,840	
$	6,000	
FICA Expense	459	122	171	294	459	
Engineering	10,000	-	5,000	5,000	10,000	
Attorney	15,000	7,084	9,917	17,001	15,000	
Annual Audit	3,300	-	3,300	3,300	3,400	
Assessment Administration	5,000	5,000	-	5,000	5,000	
Arbitrage	900	-	900	900	900	
Dissemination	5,250	2,188	3,063	5,250	5,250	
Amortization Schedules	600	1,000	500	1,500	600	
Disclosure Software	1,500	1,500	-	1,500	1,500	
Trustee Fees	8,020	-	8,020	8,020	8,020	
Management Fees	40,124	16,718	23,406	40,124	42,130	
Information Technology	1,947	811	1,136	1,947	2,044	
Website Maintenance	1,298	541	757	1,298	1,363	
Postage & Delivery	600	504	706	1,210	600	
Insurance	6,686	6,163	-	6,163	6,779	
Copies	850	-	250	250	850	
Legal Advertising	2,500	2,327	3,257	5,584	2,500	
Contingency	2,500	767	1,073	1,840	2,500	
Office Supplies	625	8	11	18	625	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Total Administrative	$	113,333	$	46,507	$	63,706	$	110,213	$	115,696	

Operation and Maintenance
Field Expenses
Field Management	

$	15,000	

$	6,250	

$	8,750	

$	15,000	

$	15,750	
Property Insurance	10,000	1,960	-	1,960	9,006	
Landscape Maintenance	125,500	44,250	61,950	106,200	175,000	
Landscape Replacement & Enhancements	5,000	2,500	3,500	6,000	55,000	
Irrigation Repairs	2,500	986	4,500	5,486	15,000	
Lake Maintenance	25,000	8,475	11,865	20,340	30,000	
Electric	5,000	3,470	8,097	11,567	12,000	
Streetlighting	95,000	38,782	54,295	93,077	125,000	
Water Reporting	-	-	1,500	1,500	3,000	
General Field Contingency	10,000	6,322	8,851	15,174	10,000	
Total Field Expenses	$	293,000	$	112,996	$	163,308	$	276,303	$	449,756	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2026	2/28/26	7 Months	9/30/26	FY2027	

Amenity Expenses
Amenity Management	
$	8,583	
$	2,500	
$	5,833	
$	8,333	
$	12,500	
Amenity - Electric	12,500	2,666	9,100	11,766	12,500	
Amenity- Water	4,167	-	2,500	2,500	4,167	
Internet	2,500	294	350	644	2,000	
Pest Control	1,250	-	-	-	1,250	
Janitorial Services	15,417	-	-	-	-	
Pool Maintenance	22,500	3,500	12,250	15,750	-	
Pool and Janitorial Services	-	-	-	-	25,000	
Security Services	-	-	15,000	15,000	25,000	
Amenity Repairs and Maintenance	8,333	-	2,500	2,500	15,000	
Holiday Lighting	-	-	-	-	7,500	
Contingency	14,500	560	2,500	3,060	14,500	
Total Amenity Expenses	$	89,750	$	9,520	$	50,033	$	59,553	$	119,417	
						
Total Expenditures	$	496,083	$	169,022	$	277,047	$	446,069	$	684,868	

Other Financing Sources/Uses:
Capital Reserve	

$	-	

$	-	

$	-	

$	-	

$	-	
Total Other Financing Sources/Uses	$	-	$	-	$	-	$	-	$	-	
						
Excess Revenues/(Expenditures)	$	-	$	309,546	$  (258,613)	$	50,933	$	0	
						
				Net Assessments	$	656,740	
Discounts and Collections (6%)  $		41,920  Gross Assessments  $	698,660 

Development	
Units	Net
Assessments	Net
Per Unit	Gross
Per Unit	
Single Family	369	$	581,472.64	$	1,575.81	$	1,676.39	
Unplatted Lots - Direct	687	$	75,267.83	$	109.56	$	116.55	
Total	1056	$ 656,740.47			

Development	
Units	FY26 Adopted
Gross Per Unit	FY27 Proposed
Gross Per Unit	
Variance	
Single Family	369	$	1,217.64	$	1,676.39	$	458.75	
Unplatted Lots - Direct	687	$	114.17	$	116.55	$	2.38	

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.

Water Reporting
The District is in contract with Ballanger Landcare to provide monthly monitoring and reporting of irrigation well flow meter readings in compliance with SWFWMD water use permit (WUP) requirements.

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.

Pool and Janitorial Services
The District is in contact with H2 Pool Service to provide pool cleaning and janitorial services 3 times a week. The services include, but are not limited to, pool cleaning, restroom cleaning, pool deck services and monthly pressure washing.

Security Services
The District is in contract with Nation Security Services to provide security services for the amenity properties a minimum or 16 hours a week.

Amenity Repairs & Maintenance
Represents estimated costs for repairs and maintenance of the District’s amenity facilities and equipment.

Holiday Lighting
Represents funds allocated to decorate the amenity areas for the holidays.

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

Proposed Budget
Series 2023 Debt Service Fund

Description	Adopted Budget FY2026	Actuals Thru 2/28/26	Projected Next
7 Months	Projected Thru 9/30/26	Proposed Budget FY2027	

Revenues						
Assessments - Direct	$	824,642	$	826,439	$	-	$	826,439	$	409,727	
Assessments- Prepayment	$	-	$  1,586,729	$	150,000	$  1,736,729		
Interest	$	-	$	27,764	$	38,870	$	66,634	$	-	
Carry Forward Surplus	$	450,873	$  1,181,051	$	-	$  1,181,051	$	957,075	
Total Revenues	$ 1,275,514	$ 3,621,983	$	188,870	$ 3,810,853	$ 1,366,802	

Expenditures						
Interest Expense - 11/1	$	335,000	$	335,000	$	-	$	335,000	$	281,072	
Special Call - 11/1	$	-	$	-	$	430,000	$	430,000	$	-	
Principal Expense - 5/1	$	185,000	$	-	$	155,000	$	155,000	$	160,000	
Interest Expense - 5/1	$	335,000	$	-	$	284,850	$	284,850	$	281,072	
Interest Expense - 2/1	$	-	$	18,928	$	-	$	18,928	$	-	
Special Call - 2/1	$	-	$  1,330,000	$	-	$  1,330,000	$	-	
Special Call - 5/1	$	-	$	-	$	300,000	$	300,000	$	-	
Total Expenditures	$	855,000	$	1,683,928	$	1,169,850	$	2,853,778	$	722,144	

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

$	

-	

$	

-	

$	

-	

$	

-	

$	

-	
Total Other Financing Sources/(Uses)	$	-	$	-	$	-	$	-	$	-	
											
Excess Revenues/(Expenditures)	$	420,514	$	1,938,055	$	(980,980)	$	957,075	$	644,659	

Interest Expense 11/1/27	 $	277,172 
Total	$	277,172

Development	
Units	Net
Assessments	Net
Per Unit	Gross
Per Unit	
Single Family 40'	77	$	159,540.15	$	2,071.95	$	2,204.20	
Single Family 50'	87	$	225,323.91	$	2,589.93	$	2,755.25	
Single Family 60'	8	$	24,863.36	$	3,107.92	$	3,306.30	
Total	172	$ 409,727.42			

Period Ending	Principal Balance		Annual Principal	
Interest Rate	
Interest	Annual Debt	
							
11/01/26	$9,845,000			4.875%	$281,071.88	$281,071.88	
05/01/27	$9,845,000	$	160,000.00	4.875%	$281,071.88		
11/01/27	$9,685,000			4.875%	$277,171.88	$718,243.76	
05/01/28	$9,685,000	$	170,000.00	4.875%	$277,171.88		
11/01/28	$9,515,000			4.875%	$273,028.13	$720,200.01	
05/01/29	$9,515,000	$	180,000.00	4.875%	$273,028.13		
11/01/29	$9,335,000			4.875%	$268,640.63	$721,668.76	
05/01/30	$9,335,000	$	190,000.00	4.875%	$268,640.63		
11/01/30	$9,145,000			5.625%	$264,009.38	$722,650.01	
05/01/31	$9,145,000	$	200,000.00	5.625%	$264,009.38		
11/01/31	$8,945,000			5.625%	$258,384.38	$722,393.76	
05/01/32	$8,945,000	$	210,000.00	5.625%	$258,384.38		
11/01/32	$8,735,000			5.625%	$252,478.13	$720,862.51	
05/01/33	$8,735,000	$	220,000.00	5.625%	$252,478.13		
11/01/33	$8,515,000			5.625%	$246,290.63	$718,768.76	
05/01/34	$8,515,000	$	235,000.00	5.625%	$246,290.63		
11/01/34	$8,280,000			5.625%	$239,681.26	$720,971.89	
05/01/35	$8,280,000	$	250,000.00	5.625%	$239,681.26		
11/01/35	$8,030,000			5.625%	$232,650.01	$722,331.27	
05/01/36	$8,030,000	$	260,000.00	5.625%	$232,650.01		
11/01/36	$7,770,000			5.625%	$225,337.51	$717,987.52	
05/01/37	$7,770,000	$	280,000.00	5.625%	$225,337.51		
11/01/37	$7,490,000			5.625%	$217,462.51	$722,800.02	
05/01/38	$7,490,000	$	295,000.00	5.625%	$217,462.51		
11/01/38	$7,195,000			5.625%	$209,165.63	$721,628.14	
05/01/39	$7,195,000	$	310,000.00	5.625%	$209,165.63		
11/01/39	$6,885,000			5.625%	$200,446.88	$719,612.51	
05/01/40	$6,885,000	$	330,000.00	5.625%	$200,446.88		
11/01/40	$6,555,000			5.625%	$191,165.63	$721,612.51	
05/01/41	$6,555,000	$	350,000.00	5.625%	$191,165.63		
11/01/41	$6,205,000			5.625%	$181,321.88	$722,487.51	
05/01/42	$6,205,000	$	370,000.00	5.625%	$181,321.88		
11/01/42	$5,835,000			5.625%	$170,915.63	$722,237.51	
05/01/43	$5,835,000	$	390,000.00	5.625%	$170,915.63		
11/01/43	$5,445,000			5.625%	$159,946.88	$720,862.51	
05/01/44	$5,445,000	$	415,000.00	5.875%	$159,946.88		
11/01/44	$5,030,000			5.875%	$147,756.25	$722,703.13	
05/01/45	$5,030,000	$	435,000.00	5.875%	$147,756.25		

Period Ending	Principal Balance	Annual Principal	
Interest Rate	
Interest	Annual Debt	

11/01/45	
$4,595,000		
5.875%	
$134,978.13	
$717,734.38	
05/01/46	$4,595,000  $	465,000.00	5.875%	$134,978.13		
11/01/46	$4,130,000		5.875%	$121,318.75	$721,296.88	
05/01/47	$4,130,000  $	490,000.00	5.875%	$121,318.75		
11/01/47	$3,640,000		5.875%	$106,925.00	$718,243.75	
05/01/48	$3,640,000  $	520,000.00	5.875%	$106,925.00		
11/01/48	$3,120,000		5.875%	$91,650.00	$718,575.00	
05/01/49	$3,120,000  $	555,000.00	5.875%	$91,650.00		
11/01/49	$2,565,000		5.875%	$75,346.88	$721,996.88	
05/01/50	$2,565,000  $	585,000.00	5.875%	$75,346.88		
11/01/50	$1,980,000		5.875%	$58,162.50	$718,509.38	
05/01/51	$1,980,000  $	620,000.00	5.875%	$58,162.50		
11/01/51	$1,360,000		5.875%	$39,950.00	$718,112.50	
05/01/52	$1,360,000  $	660,000.00	5.875%	$39,950.00		
11/01/52	$700,000		5.875%	$20,562.50	$720,512.50	
05/01/53	$700,000  $	700,000.00	5.875%	$20,562.50		
11/01/53					$720,562.50	
Total	$	9,845,000.00		$9,891,637.74	$19,736,637.74