FY2024 Proposed Budget

Rivington
Community Development District
Annual Operating and Debt Service Budget

Fiscal Year Budget 2024
Version 2 - Approved Tentative Budget:

(Printed on 6/15/2023 at 8:00am)
Prepared by:
RIVINGTON
Table of Contents
Page #
OPERATING BUDGET
General Fund
Summary of Revenues, Expenditures and Changes in Fund Balances …………………………….. 1-2
Budget Narrative …………………………………………………………………………………………… 3-6
DEBT SERVICE BUDGETS
Series 2020
Summary of Revenues, Expenditures and Changes in Fund Balances …………………………….. 7
Amortization Schedule …………………………………………………………………………………….. 8
Series 2022
Summary of Revenues, Expenditures and Changes in Fund Balances …………………………….. 9
Amortization Schedule …………………………………………………………………………………….. 10
Budget Narrative ………………………………………………………………………………………………… 11
SUPPORTING BUDGET SCHEDULES
Comparison of Assessment Rates FY 2024 vs. FY 2023

……………………………………………………….. 12
Rivington
Operating Budget
RIVINGTON
Community Development District General Fund
Summary of Revenues, Expenditures and Changes in Fund Balances

Fiscal Year 2024 Approved Tentative Budget
ADOPTED ACTUAL PROJECTED TOTAL ANNUAL

ACTUAL BUDGET THRU May - PROJECTED BUDGET
ACCOUNT DESCRIPTION FY 2022 FY 2023 April 2023 Sept 2023 FY 2023 FY2024
REVENUES
Special Assmnts- Tax Collector 243,200 $ 284,799 $ 267,903 $ 16,896 $ 284,799 $ 388,416
Special Assmnts- CDD Collected 33,634 414,851 103,663 - 103,663 170,297
Special Assmnts- Discounts (9,049) (11,392) (9,757) - (9,757) (15,537)
Access Cards 450 - 525 - 525 225
TOTAL REVENUES 268,235 688,258 362,334 16,896 379,230 543,401
EXPENDITURES
Administrative
P/R-Board of Supervisors 4,200 6,000 2,200 3,000 5,200 6,000
FICA Taxes 321 459 168 230 398 459
ProfServ-Dissemination Agent 1,000 1,000 - 1,000 1,000 1,000
ProfServ-Engineering 9,096 15,000 994 10,000 10,994 15,000
ProfServ-Mgmt Consulting 48,000 49,440 28,840 20,600 49,440 50,923
ProfServ-Property Appraiser 91 712 108 - 108 291
ProfServ-Tax Collector 65 712 77 - 77 291
ProfServ-Trustee Fees 4,041 10,000 8,081 - 8,081 10,000
Attorney Fees 19,506 20,000 7,564 7,500 15,064 20,000
Auditing Services 3,350 5,000 - 3,300 3,300 3,300
Travel and Per Diem - 100 - - - 100
Communication - Telephone - 200 - - - -
Telephone, Cable & Internet Service - - - - 2,247
Postage 239 600 60 30 90 600
Insurance 5,175 7,763 21,236 - 21,236 30,000
Printing and Binding - 200 - 100 100 200
Legal Advertising 7,037 6,000 960 1,000 1,960 6,000
Misc-Contingency 955 1,500 1,383 - 1,383 1,500
Other Current Charges - 500 - - - 500
Website Expense 3,064 3,500 1,553 100 1,653 3,500
Office Supplies - 200 - 100 100 200
Dues, Licenses, Subscriptions 175 175 175 - 175 175
Capital Outlay - 1,000 - 100 100 1,000
Total Administrative 106,315 130,061 73,399 47,060 120,459 153,287
Field
ProfServ-Field Management - - - - - 25,750
Field Operations 22,563 11,000 40,118 28,656 68,774 -
Electricity - General - - - - - 19,200
Electricity - Streetlights 33,322 85,000 26,011 18,579 44,590 100,000
Utility - Water & Sewer - - - - - 11,160
Waste Removal - - - - - 4,000
R&M-Aquatic Weed Control 5,060 9,500 6,570 4,575 11,145 10,980

Fiscal Year 2024 1
RIVINGTON


ACTUAL BUDGET THRU May - PROJECTED BUDGET
ACCOUNT DESCRIPTION FY 2022 FY 2023 April 2023 Sept 2023 FY 2023 FY2024
R&M-Emergency & Disaster Relief - - 10,179 - 10,179 -

Amenity Maintenance & Repairs 14,365 70,000 22,469 30,000 52,469 35,000
Contracts-Pools - - - - - 21,420
R&M-Pools - - - - - 6,000
Amenity Center Pest Control - - - - - 828
Landscape Maintenance 57,676 80,000 65,343 43,105 108,448 -
Contracts-Landscape - - - - - 103,452
R&M-Other Landscape - - - - - 10,000
R&M-Irrigation - - - - - 10,000
Total Field 132,986 255,500 170,690 124,915 295,605 357,790
Reserves
First-Quarter Operating Expenses 97,000 - - - -
Assessment Stabilization 100,000 - - - -
Amenity Center Facilities 25,400 - - - -
Landscape Enhancements or Replacements 30,000 - - - -
Miscellaneous Projects - 49,585 - - - 32,324
Total Reserves - 301,985 - - - 32,324
TOTAL EXPENDITURES & RESERVES 239,301 687,546 244,089 171,975 416,064 543,401
Excess (deficiency) of revenues

Over (under) expenditures 28,934 712 118,245 (155,079) (36,834) -
OTHER FINANCING SOURCES (USES)

Contribution to (Use of) Fund Balance - 712 - - - -
TOTAL OTHER SOURCES (USES) - 712 - - - -
Net change in fund balance 28,934 712 118,245 (155,079) (36,834) -
FUND BALANCE, BEGINNING - 72,175 72,175 - 72,175 35,342
FUND BALANCE, ENDING $ - $ 72,887 $ 190,420 $ (155,079) $ 35,342 $ 35,342

Fiscal Year 2024 2
Rivington
Budget Narrative
Fiscal Year 2024
REVENUES
Special Assessments-Tax Collector

The District will levy a Non-Ad Valorem assessment on all the assessable property within the District to pay for the operating expenditures
during the Fiscal Year.
Special Assessments-CDD Collected

The District will direct bill and collect non-ad valorem assessments on assessable property in order to pay for the operating expenditures
during the fiscal year.
Special Assessments-Discounts
Per Section 197.162, Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount for the fiscal year
is calculated at 4% of the anticipated Non-Ad Valorem assessments.
Access Cards
The District is charging fees for access cards to the pools.
EXPENDITURES
Administrative
P/R-Board of Supervisors
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting at which
they are in attendance. The amount for the Fiscal Year is based upon all supervisors attending 6 meetings.
FICA Taxes
Payroll taxes for supervisor salaries are calculated as 7.65% of payroll.
Professional Services-Dissemination Agent

The District is required by the Securities and Exchange Commission to comply with Rule 15c2-12(b)-(5), which relates to additional
reporting requirements for unrelated bond issues. The budgeted amount for the fiscal year is based on standard fees charged for this
service by Inframark – Infrastructure Management Services.
Professional Services-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 specially requested assignments.
Professional Services-Management Consulting

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Inframark
Infrastructure Management Services. Also included are costs for Information Technology charges to process the District’s financial
activities, i.e. accounts payable, financial statements, budgets, etc., on a main frame computer owned by Inframark Infrastructure
Management Services in accordance with the management contract.
Professional Services-Property Appraiser

The District has an agreement with the Volusia County Tax Collector who collects the District’s non-ad valorem assessments on the County
tax roll. The anticipated amount is based on current rates, half of .075% for both tax collector and property appraiser.
Professional Services-Tax Collector

The District has an agreement with the Volusia County Tax Collector who collects the District’s non-ad valorem assessments on the County
tax roll. The anticipated amount is based on current rates, half of .075% for both tax collector and property appraiser.

Fiscal Year 2024
3
Rivington
Budget Narrative
Fiscal Year 2024
Administrative (continued)
Professional Services-Trustee Fees

The District issued a series 2020 bond and series 2022 note, with funds deposited with a Trustee, to handle all trustee matters. The annual
trustee fee is based on standard fees charged plus any out-of-pocket expenses.
Attorney Fees
The District’s legal counsel will be providing general legal services to the District, i.e., attending and preparing for Board meetings,
reviewing operation and maintenance contracts, and other work performed at the direction of the Board.
Auditing Services
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 an existing engagement letter.
Travel and Per Diem

Supervisors may be reimbursed for their travel expenses to and from District meetings.
Telephone, Cable & Internet Service

This represents any telephone, cable, or internet service charges that may be incurred by the District. The budgeted amount for the fiscal
year is based on the current monthly cost of AT&T internet services.
Postage
FedEx charges and reimbursements made to Inframark for actual postage and/or freight used for District mailings including agenda packages,
vendor checks and other correspondence. The fiscal year budget is based on prior year spending and anticipated needs.
Insurance
The District's General Liability and Public Officials Liability insurance policies are with Egis Insurance Advisors.
Printing and Binding

Copies used in the preparation of agenda packages, required mailings, and other special projects. The budgeted amount for the fiscal year
is based on prior year spending and anticipated needs.
Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general
circulation.
Misc-Contingency
This includes miscellaneous expenses that may be incurred during the year that are not included in another budgeted line item.
Other Current Charges

This represents any bank fees or miscellaneous charges incurred during the year.
Website Expense
This line item is for costs associated with the District’s website, including annual domain name and hosting, quarterly monitoring, and
monthly maintenance.
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.
Dues, Licenses, Subscriptions

The District is required to pay an annual fee of $175 to the Department of Economic Opportunity Division of Community Development.

Fiscal Year 2024
4
Rivington
Budget Narrative
Fiscal Year 2024
Administrative (continued)
Capital Outlay
Funds set aside for capital projects as determined by the district board.
Field
Professional Services-Field Management

Manager will provide the following field services for the District:
• Perform a monthly inspection of District property and maintenance responsibilities

• Provide monthly inspection reports with pictures, analysis, and recommendations
• Notify District vendors about deficiencies in service
• Coordinate and work with the District Manager on all vendor contracts
• Monitor District vendors' progress in remedial work and provide the Board with a progress report
• Provide input to the District Manager for annual budgetary consideration.
• Use experience to obtain proposals for various projects
• Assist in drafting competitive procurement packages (such as instructions to proposers and scope of services) and conduct
pre-application meetings with interested proposers
• Attendance at Board meetings or workshops as needed or requested
• Clean restrooms twice a week
• Clean meeting room twice a week
• Empty all trash twice a week
• Remove trash/debris as needed throughout the community
• Clean off pool deck and furniture twice a week
• Report any issues to the District Manager
Electricity - General
The District incurs monthly electric utility expenses related to District operations.
Electricity - Streetlights
Street lighting usage for District facilities and assets. The District leases light poles from FPL, which cost includes the lease, usage, and
maintenance.
Utility – Water & Sewer

Includes water utility charges due to Volusia County Water, for monthly service.
Waste Removal
Includes waste removal charges due to Waste Pro, for monthly service.
R&M-Aquatic Weed Control

The District contracts with Aquatic Weed Control to provide monthly waterway services.
Amenity Maintenance & Repairs

Costs associated with maintenance and repairs for the amenity center.
Contracts-Pools
The Districts contracts with Southeast Pools to provide monthly pool maintenance.

Fiscal Year 2024
5
Rivington
Budget Narrative
Fiscal Year 2024
Field (continued)
R&M-Pools
This category is for pool repairs and unscheduled maintenance not covered by the monthly pool contract.
Amenity Center Pest Control

Costs associated with monthly amenity center pest control, by David G Williamson.
Contracts-Landscape
The District contracts with Cepra Landscape to provide monthly landscape maintenance.
R&M-Other Landscape
This category is for any landscape costs not covered by the monthly landscape contract.
R&M-Irrigation
This category is for irrigation repairs and unscheduled maintenance not covered by the monthly landscape contract.

Fiscal Year 2024
6
Rivington
Debt Service Budgets

RIVINGTON
Community Development District Series 2020 - Debt Service Fund


ACTUAL BUDGET THRU MAY - PROJECTED BUDGET
ACCOUNT DESCRIPTION FY 2022 FY 2023 APR-2023 SEP-2023 FY 2023 FY 2024
REVENUES
Interest - Investments $ 1,308 $ 260 $ 8,858 $ 6,327 $ 15,185 $ 260
Special Assmnts- Tax Collector 401,806 392,628 360,492 32,136 392,628 392,628
Special Assmnts- Prepayment 349,529 - 54,912 - 54,912 -
Special Assmnts- Discounts (14,949) (15,706) (13,129) - (13,129) (15,705)
TOTAL REVENUES 737,694 377,182 411,133 38,463 449,596 377,182
EXPENDITURES
Administrative
ProfServ-Tax Collector 257 1,963 248 - 248 1,963
Total Administrative 257 1,963 248 - 248 1,963
Debt Service
Principal Debt Retirement 130,000 130,000 - 130,000 130,000 135,000
Principal Prepayments 700,000 - 100,000 - 100,000 -
Interest Expense 256,880 235,875 117,881 116,450 234,331 229,163
Total Debt Service 1,086,880 365,875 217,881 246,450 464,331 364,163
TOTAL EXPENDITURES 1,087,137 367,838 218,129 246,450 464,579 366,126

Over (under) expenditures (349,443) 9,344 193,004 (207,987) (14,983) 11,057

Operating Transfers-Out (669) - (3,974) - (3,974) -
Contribution to (Use of) Fund Balance - 9,344 - - - 11,057
TOTAL OTHER SOURCES (USES) (669) 9,344 (3,974) - (3,974) 11,057
Net change in fund balance (350,112) 9,344 189,030 (207,987) (18,957) 11,057
FUND BALANCE, BEGINNING 740,489 390,376 390,376 - 390,376 371,419
FUND BALANCE, ENDING $ 390,376 $ 399,720 $ 579,406 $ (207,987) $ 371,419 $ 382,476

Fiscal Year 2024 7
RIVINGTON
Community Development District Series 2020 Debt Service Fund
Amortization Schedule
Series 2020 Special Assessment Bonds
Outstanding Extraordinary
Date Principal Rate Interest Total Annual
Balance Redemption
11/1/2023 6,070,000 114,581 117,484 371,909

5/1/2024 6,070,000 135,000 2.875% 114,581 257,484
11/1/2024 5,935,000 112,641 115,472 372,956
5/1/2025 5,935,000 140,000 2.875% 112,641 260,472
11/1/2025 5,795,000 110,628 113,388 373,859
5/1/2026 5,795,000 145,000 3.375% 110,628 263,388
11/1/2026 5,650,000 108,181 110,856 374,244
5/1/2027 5,650,000 150,000 3.375% 108,181 260,856
11/1/2027 5,500,000 105,650 108,325 369,181
5/1/2028 5,500,000 155,000 3.375% 105,650 268,325
11/1/2028 5,345,000 103,034 105,625 373,950
5/1/2029 5,345,000 160,000 3.375% 103,034 270,625
11/1/2029 5,185,000 100,334 102,841 373,466
5/1/2030 5,185,000 165,000 3.375% 100,334 272,841
11/1/2030 5,020,000 97,550 99,972 372,813
5/1/2031 5,020,000 170,000 3.375% 97,550 274,972
11/1/2031 4,850,000 94,681 97,019 371,991
5/1/2032 4,850,000 175,000 3.750% 94,681 277,019
11/1/2032 4,675,000 91,400 93,644 370,663
5/1/2033 4,675,000 185,000 3.750% 91,400 283,644
11/1/2033 4,490,000 87,931 90,081 373,725
5/1/2034 4,490,000 190,000 3.750% 87,931 285,081
11/1/2034 4,300,000 84,369 86,425 371,506
5/1/2035 4,300,000 195,000 3.750% 84,369 291,425
11/1/2035 4,105,000 80,713 82,581 374,006
5/1/2036 4,105,000 205,000 3.750% 80,713 292,581
11/1/2036 3,900,000 76,869 78,644 371,225
5/1/2037 3,900,000 215,000 3.750% 76,869 298,644
11/1/2037 3,685,000 72,838 74,519 373,163
5/1/2038 3,685,000 220,000 3.750% 72,838 299,519
11/1/2038 3,465,000 68,713 70,300 369,819
5/1/2039 3,465,000 230,000 3.750% 68,713 305,300
11/1/2039 3,235,000 64,400 65,894 371,194
5/1/2040 3,235,000 240,000 3.750% 64,400 310,894
11/1/2040 2,995,000 59,900 61,300 372,194
5/1/2041 2,995,000 250,000 4.000% 59,900 316,300
11/1/2041 2,745,000 54,900 56,200 372,500
5/1/2042 2,745,000 260,000 4.000% 54,900 321,200
11/1/2042 2,485,000 49,700 50,900 372,100
5/1/2043 2,485,000 270,000 4.000% 49,700 325,900
11/1/2043 2,215,000 44,300 45,400 371,300
5/1/2044 2,215,000 280,000 4.000% 44,300 330,400
11/1/2044 1,935,000 38,700 39,700 370,100
5/1/2045 1,935,000 290,000 4.000% 38,700 339,700
11/1/2045 1,645,000 32,900 33,700 373,400
5/1/2046 1,645,000 305,000 4.000% 32,900 343,700
11/1/2046 1,340,000 26,800 27,500 371,200
5/1/2047 1,340,000 315,000 4.000% 26,800 352,500
11/1/2047 1,025,000 20,500 21,000 373,500
5/1/2048 1,025,000 330,000 4.000% 20,500 356,000
11/1/2048 695,000 13,900 14,300 370,300
5/1/2049 695,000 340,000 4.000% 13,900 364,300
11/1/2049 355,000 7,100 7,300 371,600
5/1/2050 355,000 355,000 4.000% 7,100 372,300
6,070,000 3,846,425 10,165,738
Annual Operating and Debt Service Budgets

Fiscal Year 2024 8
RIVINGTON
Community Development District Series 2022 - Debt Service Fund


ACTUAL BUDGET THRU MAY - PROJECTED BUDGET
ACCOUNT DESCRIPTION FY 2022 FY 2023 APR-2023 SEP-2023 FY 2023 FY 2024
REVENUES
Interest - Investments $ 1,831 $ - $ 9,839 $ 7,028 $ 16,867 $ -
Special Assmnts- Tax Collector - 81,219 76,400 4,819 81,219 118,705
Special Assmnts- CDD Collected - 565,377 565,377 - 565,377 142,618
Special Assmnts- Discounts - (22,615) (2,783) - (2,783) (4,748)
TOTAL REVENUES 1,831 623,981 648,833 11,847 660,680 256,575
EXPENDITURES
Administrative
ProfServ-Tax Collector - 2,827 53 - 53 594
Total Administrative - 2,827 53 - 53 594
Debt Service
Principal Debt Retirement - 205,000 - 205,000 205,000 215,000
Interest Expense - 474,393 256,002 218,391 474,393 430,119
Total Debt Service - 679,393 256,002 423,391 679,393 645,119
TOTAL EXPENDITURES - 682,220 256,055 423,391 679,446 645,712

Over (under) expenditures 1,831 (58,239) 392,778 (411,544) (18,766) (389,137)

Bond Proceeds 577,473 - - - - -
Operating Transfers-Out (1,019) - (6,231) - (6,231) -
Contribution to (Use of) Fund Balance 1,831 (58,239) - - - (389,137)
TOTAL OTHER SOURCES (USES) 578,285 (58,239) (6,231) - (6,231) (389,137)
Net change in fund balance 578,285 (58,239) 386,547 (411,544) (24,997) (389,137)
FUND BALANCE, BEGINNING - 578,285 578,285 - 578,285 553,288
FUND BALANCE, ENDING $ 578,285 $ 520,046 $ 964,832 $ (411,544) $ 553,288 $ 164,151

Fiscal Year 2024 9
RIVINGTON
Community Development District Series 2022 Debt Service Fund
Amortization Schedule
Series 2022 Special Assessment Bonds
Outstanding
Date Principal Rate Interest Total Annual
Balance
11/1/2023 11,045,000 215,059 215,059

5/1/2024 11,045,000 215,000 2.875% 215,059 430,059 645,119
11/1/2024 10,830,000 211,566 211,566
5/1/2025 10,830,000 220,000 2.875% 211,566 431,566 643,131
11/1/2025 10,610,000 207,991 207,991
5/1/2026 10,610,000 230,000 3.375% 207,991 437,991 645,981
11/1/2026 10,380,000 204,253 204,253
5/1/2027 10,380,000 235,000 3.375% 204,253 439,253 643,506
11/1/2027 10,145,000 200,434 200,434
5/1/2028 10,145,000 245,000 3.375% 200,434 445,434 645,869
11/1/2028 9,900,000 195,994 195,994
5/1/2029 9,900,000 255,000 3.375% 195,994 450,994 646,988
11/1/2029 9,645,000 191,372 191,372
5/1/2030 9,645,000 265,000 3.375% 191,372 456,372 647,744
11/1/2030 9,380,000 186,569 186,569
5/1/2031 9,380,000 270,000 3.375% 186,569 456,569 643,138
11/1/2031 9,110,000 181,675 181,675
5/1/2032 9,110,000 280,000 3.750% 181,675 461,675 643,350
11/1/2032 8,830,000 176,600 176,600
5/1/2033 8,830,000 295,000 3.750% 176,600 471,600 648,200
11/1/2033 8,535,000 170,700 170,700
5/1/2034 8,535,000 305,000 3.750% 170,700 475,700 646,400
11/1/2034 8,230,000 164,600 164,600
5/1/2035 8,230,000 320,000 3.750% 164,600 484,600 649,200
11/1/2035 7,910,000 158,200 158,200
5/1/2036 7,910,000 330,000 3.750% 158,200 488,200 646,400
11/1/2036 7,580,000 151,600 151,600
5/1/2037 7,580,000 345,000 3.750% 151,600 496,600 648,200
11/1/2037 7,235,000 144,700 144,700
5/1/2038 7,235,000 360,000 3.750% 144,700 504,700 649,400
11/1/2038 6,875,000 137,500 137,500
5/1/2039 6,875,000 375,000 3.750% 137,500 512,500 650,000
11/1/2039 6,500,000 130,000 130,000
5/1/2040 6,500,000 390,000 3.750% 130,000 520,000 650,000
11/1/2040 6,110,000 122,200 122,200
5/1/2041 6,110,000 405,000 4.000% 122,200 527,200 649,400
11/1/2041 5,705,000 114,100 114,100
5/1/2042 5,705,000 420,000 4.000% 114,100 534,100 648,200
11/1/2042 5,285,000 105,700 105,700
5/1/2043 5,285,000 440,000 4.000% 105,700 545,700 651,400
11/1/2043 4,845,000 96,900 96,900
5/1/2044 4,845,000 455,000 4.000% 96,900 551,900 648,800
11/1/2044 4,390,000 87,800 87,800
5/1/2045 4,390,000 475,000 4.000% 87,800 562,800 650,600
11/1/2045 3,915,000 78,300 78,300
5/1/2046 3,915,000 495,000 4.000% 78,300 573,300 651,600
11/1/2046 3,420,000 68,400 68,400
5/1/2047 3,420,000 515,000 4.000% 68,400 583,400 651,800
11/1/2047 2,905,000 58,100 58,100
5/1/2048 2,905,000 535,000 4.000% 58,100 593,100 651,200
11/1/2048 2,370,000 47,400 47,400
5/1/2049 2,370,000 555,000 4.000% 47,400 602,400 649,800
11/1/2049 1,815,000 36,300 36,300
5/1/2050 1,815,000 580,000 4.000% 36,300 616,300 652,600
11/1/2050 1,235,000 24,700 24,700
5/1/2051 1,235,000 605,000 4.000% 24,700 629,700 654,400
11/1/2051 630,000 12,600 12,600
5/1/2052 630,000 630,000 4.000% 12,600 642,600 655,200
11,045,000 7,762,625 18,807,625

Fiscal Year 2024 10
Rivington
Community Development District Debt Service Funds
Budget Narrative
Fiscal Year 2024
REVENUES
Interest-Investments
The District earns interest income on their trust accounts with US Bank for the series 2020 and 2022 bonds.
Special Assessments-Tax Collector

The District will levy a Non-Ad Valorem assessment on all the assessable property within the District to pay for the debt service expenditures
during the Fiscal Year for the series 2020 and 2022 bonds.
Special Assessments-CDD Collected

The District will direct bill and collect non-ad valorem assessments on assessable property in order to pay for the debt service expenditures
during the fiscal year for the series 2022 bonds.
Special Assessments-Discounts
Per Section 197.162, Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount for the fiscal year
is calculated at 4% of the anticipated Non-Ad Valorem assessments for the series 2020 and 2022 bonds.
EXPENDITURES
Administrative
ProfServ-Tax Collector
The District compensates Volusia County Tax Collector for the cost of collecting assessments, 0.5% based on total assessments collected
for the series 2020 and 2022 bonds.
Debt Service
Principal Debt Retirement

The District pays principal payments due within the current year for the series 2020 and 2022 bonds.
Interest Expense
The District pays interest payments due within the current year for the series 2020 and 2022 bonds.

Fiscal Year 2024
11
Rivington
Supporting Budget Schedules

RIVINGTON
Community Development District All Funds
Comparison of Assessment Rates

Fiscal Year 2024 vs. Fiscal Year 2023
Product O&M 2020 2022 O&M Series 2020 DS Series 2022 DS Total Per Unit
Units DS DS Percent Percent Percent Percent
Units Units FY 2024 FY 2023 Change FY 2024 FY 2023 Change FY 2024 FY 2023 Change FY 2024 FY 2023 Change
Platted
Phase 1
Townhome 20' 6 6 $ 816.00 $ 800.00 2% $ 713.51 $ 713.51 0% $ - $ - n/a $ 1,529.51 $ 1,513.51 1%
Townhome 20' 30 30 $ 816.00 $ 800.00 2% $ 687.64 $ 687.64 0% $ - $ - n/a $ 1,503.64 $ 1,487.64 1%
Townhome 24' 6 6 $ 816.00 $ 800.00 2% $ 856.21 $ 856.21 0% $ - $ - n/a $ 1,672.21 $ 1,656.21 1%
Townhome 24' 18 18 $ 816.00 $ 800.00 2% $ 825.17 $ 825.17 0% $ - $ - n/a $ 1,641.17 $ 1,625.17 1%
Single Family 34' 34 34 $ 816.00 $ 800.00 2% $ 1,212.96 $ 1,212.96 0% $ - $ - n/a $ 2,028.96 $ 2,012.96 1%
Single Family 34' 57 57 $ 816.00 $ 800.00 2% $ 1,062.72 $ 1,062.72 0% $ - $ - n/a $ 1,878.72 $ 1,862.72 1%
Single Family 40' 2 2 $ 816.00 $ 800.00 2% $ 1,427.01 $ 1,427.01 0% $ - $ - n/a $ 2,243.01 $ 2,227.01 1%
Single Family 50' 32 32 $ 816.00 $ 800.00 2% $ 1,783.77 $ 1,783.77 0% $ - $ - n/a $ 2,599.77 $ 2,583.77 1%
Single Family 50' 119 119 $ 816.00 $ 800.00 2% $ 1,562.83 $ 1,562.83 0% $ - $ - n/a $ 2,378.83 $ 2,362.83 1%
Phase 2
Townhome 20' 38 38 $ 816.00 $ 800.00 2%
Single Family 34' 58 58 $ 816.00 $ 800.00 2%
Single Family 50' 76 76 $ 816.00 $ 800.00 2% $ - $ - n/a $ 1,561.90 $1,561.90 0% $ 2,377.90 $ 2,361.90 1%
Sub-Total 476 304 172
UnPlatted
Phases 3 and 5 (27.3 + 10)
Acreage 37.3 37.3 $ 345.36 $ 338.59 2% $ - $ - n/a $ 739.30 $739.30 0% $ 1,084.66 $ 1,077.89 1%
Sub-Total 37.3 0 37.3
Phase 4
Townhome 20' 202 202 $ 816.00 n/a $ - $ - n/a $ 739.30 $739.30 0% $ 1,555.30 $ 739.30
Sub-Total 202 0 202
Total 715.3 304 374

Fiscal Year 2024 12

FY2024 Proposed Budget

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FY2024 Proposed Budget

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Rivington

Community Development District

Annual Operating and Debt Service Budget

Version 2 - Approved Tentative Budget:

Summary of Revenues, Expenditures and Changes in Fund Balances …………………………….. 1-2

Budget Narrative …………………………………………………………………………………………… 3-6

DEBT SERVICE BUDGETS

Summary of Revenues, Expenditures and Changes in Fund Balances …………………………….. 7

Amortization Schedule …………………………………………………………………………………….. 8

Summary of Revenues, Expenditures and Changes in Fund Balances …………………………….. 9

Amortization Schedule …………………………………………………………………………………….. 10

Budget Narrative ………………………………………………………………………………………………… 11

SUPPORTING BUDGET SCHEDULES

Comparison of Assessment Rates FY 2024 vs. FY 2023

Summary of Revenues, Expenditures and Changes in Fund Balances

ADOPTED ACTUAL PROJECTED TOTAL ANNUAL

TOTAL REVENUES 268,235 688,258 362,334 16,896 379,230 543,401

Total Administrative 106,315 130,061 73,399 47,060 120,459 153,287

Annual Operating and Debt Service Budget

Summary of Revenues, Expenditures and Changes in Fund Balances

ADOPTED ACTUAL PROJECTED TOTAL ANNUAL

R&M-Emergency & Disaster Relief - - 10,179 - 10,179 -

Total Field 132,986 255,500 170,690 124,915 295,605 357,790

Excess (deficiency) of revenues

OTHER FINANCING SOURCES (USES)

TOTAL OTHER SOURCES (USES) - 712 - - - -

Net change in fund balance 28,934 712 118,245 (155,079) (36,834) -

FUND BALANCE, BEGINNING - 72,175 72,175 - 72,175 35,342

FUND BALANCE, ENDING $ - $ 72,887 $ 190,420 $ (155,079) $ 35,342 $ 35,342

Annual Operating and Debt Service Budget

Special Assessments-Tax Collector

Special Assessments-CDD Collected

Professional Services-Dissemination Agent

Professional Services-Management Consulting

Professional Services-Property Appraiser

Professional Services-Tax Collector

Annual Operating and Debt Service Budget

Professional Services-Trustee Fees

Travel and Per Diem

Telephone, Cable & Internet Service

Printing and Binding

Other Current Charges

Dues, Licenses, Subscriptions

Annual Operating and Debt Service Budget

Professional Services-Field Management

• Perform a monthly inspection of District property and maintenance responsibilities

Utility – Water & Sewer

R&M-Aquatic Weed Control

Amenity Maintenance & Repairs

Annual Operating and Debt Service Budget

Amenity Center Pest Control

Annual Operating and Debt Service Budget

Debt Service Budgets

Summary of Revenues, Expenditures and Changes in Fund Balances

ADOPTED ACTUAL PROJECTED TOTAL ANNUAL

TOTAL REVENUES 737,694 377,182 411,133 38,463 449,596 377,182

Total Administrative 257 1,963 248 - 248 1,963

Total Debt Service 1,086,880 365,875 217,881 246,450 464,331 364,163

TOTAL EXPENDITURES 1,087,137 367,838 218,129 246,450 464,579 366,126

Excess (deficiency) of revenues