Two Ridges Community Development District

Proposed Budget For Fiscal Year 2026/2027
October 1, 2026 - September 30, 2027

CONTENTS

I

PROPOSED BUDGET

II

DETAILED PROPOSED BUDGET

III

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (2025 BOND)

ASSESSMENT COMPARISON

IV

PROPOSED BUDGET
TWO RIDGES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

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

REVENUES

FISCAL YEAR 2026/2027
BUDGET

O&M (Operation & Maintenance) Assessments

275,888

Developer Contribution

0

Debt Assessments

776,330

Interest Income

360

TOTAL REVENUES

$	1,052,578

EXPENDITURES

Administrative Expenditures

Supervisor Fees

0

Management

36,972

Legal

25,000

Assessment Roll

5,000

Audit Fees

4,300

Arbitrage Rebate Fee

650

Insurance

5,500

Legal Advertisements

10,000

Miscellaneous

2,000

Postage

250

Office Supplies

1,400

Dues & Subscriptions

175

Website Management & ADA Compliance

3,000

Trustee Fees

4,500

Continuing Disclosure Fee

1,000

Total Administrative Expenditures

$	99,747

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

0

Open Space Tract East Of Two Ridges Road Public ROW Maintenance

18,750

Reserve/Contingency

15,398

Total Maintenance Expenditures

$	159,948

Total O&M Expenditures

$	259,695

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)

$	-

DETAILED PROPOSED BUDGET
TWO RIDGES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

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

REVENUES

FISCAL YEAR 2024/2025
ACTUAL

FISCAL YEAR 2025/2026
BUDGET

FISCAL YEAR 2026/2027
BUDGET

COMMENTS

O&M (Operation & Maintenance) Assessments

0

275,888

275,888

Expenditures Less Interest/.94

Developer Contribution

68,750

0

0

Developer Contribution

Debt Assessments

0

776,330

776,330

Interest Income

5

240

360

Interest Projected At $30 Per Month

TOTAL REVENUES

$	68,755

$	1,052,458

$	1,052,578

EXPENDITURES

Administrative Expenditures

Supervisor Fees

0

0

0

Management

21,000

36,000

36,972

CPI Adjustment

Legal

13,285

30,000

25,000

$5,000 Decrease From 2025/2026 Budget

Assessment Roll

5,000

5,000

5,000

As Per Contract

Audit Fees

0

4,500

4,300

Accepted Amount For 2025/2026 Audit

Arbitrage Rebate Fee

0

650

650

No Change From 2025/2026 Budget

Insurance

2,795

7,000

5,500

FY 2025/2026 Expenditure Was $5,000

Legal Advertisements

7,632

15,000

10,000

$5,000 Decrease From 2025/2026 Budget

Miscellaneous

2,676

1,500

2,000

$500 Increase From 2025/2026 Budget

Postage

211

200

250

$50 Increase From 2025/2026 Budget

Office Supplies

404

1,500

1,400

$100 Decrease From 2025/2026 Budget

Dues & Subscriptions

125

175

175

Annual Fee Due Department Of Economic Opportunity

Website Management & ADA Compliance

1,750

3,000

3,000

No Change From 2025/2026 Budget

Trustee Fees

0

4,500

4,500

No Change From 2025/2026 Budget

Continuing Disclosure Fee

0

1,000

1,000

No Change From 2025/2026 Budget

Total Administrative Expenditures

$	54,878

$	110,025

$	99,747

Maintenance Expenditures

Engineering/Inspections

0

6,000

6,000

No Change From 2025/2026 Budget

Miscellaneous Maintenance

0

1,000

1,000

No Change From 2025/2026 Budget

Stormwater System Inspections & Maintenance

0

5,800

5,800

Valencia Ridge Phases 1, 2 & 3 & Two Ridges Road

Lake Maintenance

0

108,000

108,000

Valencia Ridge Phases 1 & 2 ($84,000) & 3 ($24,000)

Two Ridges Road Public ROW Sidewalk Maintenance

0

5,000

5,000

No Change From 2025/2026 Budget

Two Ridges Road Public ROW Mowing

0

15,000

0

Line Item Eliminated

Open Space Tract East Of Two Ridges Road Public ROW Maintenance

0

8,750

18,750

Mowing ($18,000) & Grading Repairs ($750)

Reserve/Contingency

0

0

15,398

Reserve/Contingency

Total Maintenance Expenditures

$	-

$	149,550

$	159,948

Total O&M Expenditures

$	54,878

$	259,575

$	259,695

REVENUES LESS EXPENDITURES

$	13,877

$	792,883

$	792,883

Bond Payments

0

(729,750)

(729,750)

2027 Principal & Interest Payments

BALANCE

$	13,877

$	63,133

$	63,133

County Appraiser & Tax Collector Fee

0

(21,044)

(21,044)

Two Percent Of Total Assessment Roll

Discounts For Early Payments

0

(42,089)

(42,089)

Four Percent Of Total Assessment Roll

EXCESS/ (SHORTFALL)

$	13,877

$	-

$	-

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2025)
TWO RIDGES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

Note: Capitalized Interest Was 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 1/1/26 =

$10,300,000

III

4/15/2026 4:00 PM

REVENUES

FISCAL YEAR 2024/2025 ACTUAL

FISCAL YEAR 2025/2026 BUDGET

FISCAL YEAR 2026/2027 BUDGET

COMMENTS

Interest Income

4,042

1,000

2,000

Projected Interest For 2026/2027

NAV Tax Collection

0

729,750

729,750

Maximum Debt Service Collection

Total Revenues

$	4,042

$	730,750

$	731,750

EXPENDITURES

Principal Payments

0

145,000

150,000

Principal Payment Due In 2027

Interest Payments

0

581,419

575,150

Interest Payment Due In 2027

Bond Proceeds

559,708

0

0

Bond Redemption

0

4,331

6,600

Estimated Excess Debt Collections

Total Expenditures

$	559,708

$	730,750

$	731,750

Excess/ (Shortfall)

$	(555,666)

$	-

$	-

TWO RIDGES COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year 2024/2025
	Assessment*	

Fiscal Year 2025/2026
	Assessment*	

Fiscal Year 2026/2027
  Projected Assessment* 

O & M For 48' Single Family Unit Debt For 48' Single Family Unit
Total For 48' Single Family Unit

$

-

$

533.00

$

533.00

 $	-	

$	1,339.19

 $	1,339.19

$

-

$

1,872.19

$

1,872.19

O & M For 50' Single Family Unit Debt For 50 Single Family Unit
Total For 50' Single Family Unit

$

-

$

533.00

$

533.00

 $	-	

$	1,399.15

 $	1,399.15

$

-

$

1,932.15

$

1,932.15

O & M For 62' Single Family Unit Debt For 62' Single Family Unit
Total For 62' Single Family Unit

$

-

$

533.00

$

533.00

 $	-	

$	1,738.95

 $	1,738.95

$

-

$

2,271.95

$

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

IV

4/15/2026 4:00 PM