Two Ridges Community Development District

Final Budget For Fiscal Year 2025/2026
October 1, 2025 - September 30, 2026

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET (2025 BOND)

ASSESSMENT COMPARISON

FINAL BUDGET
TWO RIDGES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2025/2026 BUDGET	
O&M (Operation & Maintenance) Assessments	275,888	
Developer Contribution	0	
Debt Assessments	776,330	
Interest Income	240	
		
TOTAL REVENUES	$	1,052,458	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	36,000	
Legal	30,000	
Assessment Roll	5,000	
Audit Fees	4,500	
Arbitrage Rebate Fee	650	
Insurance	7,000	
Legal Advertisements	15,000	
Miscellaneous	1,500	
Postage	200	
Office Supplies	1,500	
Dues & Subscriptions	175	
Website Management & ADA Compliance	3,000	
Trustee Fees	4,500	
Continuing Disclosure Fee	1,000	
Total Administrative Expenditures	$	110,025	
		
Maintenance Expenditures		
Engineering/Inspections	6,000	
Miscellaneous Maintenance	1,000	
Stormwater System Inspections & Maintenance	5,800	
Lake Maintenance	108,000	
Two Ridges Road Public ROW Sidewalk Maintenance	5,000	
Two Ridges Road Public ROW Mowing	15,000	
Open Space Tract East Of Two Ridges Road Public ROW Maintenance	8,750	
Total Maintenance Expenditures	$	149,550	
		
Total O&M Expenditures	$	259,575	
		
REVENUES LESS EXPENDITURES	$	792,883	
		
Bond Payments	(729,750)	
		
BALANCE	$	63,133	
		
County Appraiser & Tax Collector Fee	(21,044)	
Discounts For Early Payments	(42,089)	
		
EXCESS/ (SHORTFALL)	$	-	

Notes
Annual O&M Per Unit: $501 ($259,575/518 SF Homes = $501) Annual O&M Per Unit - Grossed Up 6%: $533 ($501/.94= $533)

I

DETAILED FINAL BUDGET
TWO RIDGES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2023/2024 ACTUAL	
FISCAL YEAR 2024/2025 BUDGET	
FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	
O&M (Operation & Maintenance) Assessments	0	0	275,888	Expenditures Less Interest/.94	
Developer Contribution	0	83,625	0	Developer Contribution	
Debt Assessments	0	0	776,330		
Interest Income	0	0	240	Interest Projected At $20 Per Month	
					
TOTAL REVENUES	$	-	$	83,625	$	1,052,458		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	0	21,000	36,000	$3,000 X 12 Months	
Legal	0	30,000	30,000		
Assessment Roll	0	0	5,000	Commences In Fiscal Year Following Issuing Of Bond	
Audit Fees	0	4,500	4,500		
Arbitrage Rebate Fee	0	0	650	Commences In Fiscal Year Following Issuing Of Bond	
Insurance	0	6,000	7,000		
Legal Advertisements	0	15,000	15,000		
Miscellaneous	0	1,500	1,500		
Postage	0	200	200		
Office Supplies	0	1,500	1,500		
Dues & Subscriptions	0	175	175	Annual Fee Due Department Of Economic Opportunity	
Website Management & ADA Compliance	0	1,750	3,000	$250 X 12 Months	
Trustee Fees	0	0	4,500	Commences In Fiscal Year Following Issuing Of Bond	
Continuing Disclosure Fee	0	0	1,000	Commences In Fiscal Year Following Issuing Of Bond	
Total Administrative Expenditures	$	-	$	81,625	$	110,025		
					
Maintenance Expenditures					
Engineering/Inspections	0	2,000	6,000	Engineers Report To Be Included In Bond Cost Of Issuance	
Miscellaneous Maintenance	0	0	1,000		
Stormwater System Inspections & Maintenance	0	0	5,800	Valencia Ridge Phases 1, 2 & 3 & Two Ridges Road	
Lake Maintenance	0	0	108,000	Valencia Ridge Phases 1 & 2 ($84,000) & 3 ($24,000)	
Two Ridges Road Public ROW Sidewalk Maintenance	0	0	5,000		
Two Ridges Road Public ROW Mowing	0	0	15,000		

Open Space Tract East Of Two Ridges Road Public ROW Maintenance	0	0	8,750	Mowing ($8,000) & Grading Repairs ($750)	
Total Maintenance Expenditures	$	-	$	2,000	$	149,550		
					
Total O&M Expenditures	$	-	$	83,625	$	259,575		
					
REVENUES LESS EXPENDITURES	$	-	$	-	$	792,883		
					
Bond Payments	0	0	(729,750)	2026 Principal & Interest Payments	
					
BALANCE	$	-	$	-	$	63,133		
					
County Appraiser & Tax Collector Fee	0	0	(21,044)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	0	0	(42,089)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	-	$	-	$	-		

Notes
Annual O&M Per Unit: $501 ($259,575/518 SF Homes = $501) Annual O&M Per Unit - Grossed Up 6%: $533 ($501/.94= $533)

II

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2025)
TWO RIDGES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	FISCAL YEAR 2023/2024 ACTUAL	FISCAL YEAR 2024/2025 BUDGET	FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	

Interest Income	
0	
0	
1,000	
Projected Interest For 2025/2026	

NAV Tax Collection	
0	
0	
729,750	
Maximum Debt Service Collection	

Total Revenues	
$	-	
$	-	
$	730,750		

EXPENDITURES					

Principal Payments	
0	
0	
145,000	
Principal Payment Due In 2026	

Interest Payments	
0	
0	
581,419	
Interest Payment Due In 2026	

Bond Redemption	
0	
-	
4,331	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	-	
$	730,750		

Excess/ (Shortfall)	
$	-	
$	-	
$	-		

Note: Capitalized Interest Set-Up Through 11/1/25.

Series 2025 Bond Information

Original Par Amount =	$10,300,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	4.25% - 6.00%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	July 2025			
Maturity Date =	May 2055			

Par Amount As Of 8/1/25 =	$10,300,000

7/21/2025 12:04 PM	III

TWO RIDGES COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

O & M For 48' Single Family Unit

Fiscal Year	Fiscal Year	Fiscal Year	
2023/2024	2024/2025	2025/2026	
Assessment*	Assessment*	Projected Assessment*	

$	-	$	-	$

533.00

Debt For 48' Single Family Unit

$	-		$	-	

$	1,339.19

Total For 48' Single Family Unit

$	-	$	-	$

1,872.19

O & M For 50' Single Family Unit

$	-	$	-	$

533.00

Debt For 50 Single Family Unit

$	-		$	-	

$	1,399.15

Total For 50' Single Family Unit

$	-	$	-	$

1,932.15

O & M For 62' Single Family Unit

$	-	$	-	$

533.00

Debt For 62' Single Family Unit

$	-		$	-	

$	1,738.95

Total For 62' Single Family Unit

$	-	$	-	$

2,271.95

* Assessments Include the Following: 4% Discount for Early Payments County Tax Collector Fee
County Property Appraiser Fee

Community Information (2025 Bond):
48' Single Family Units: 177
50' Single Family Units: 158
62' Single Family Units: 183
Total:	518 Units

7/21/2025 12:04 PM	IV