RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT

MIAMI-DADE COUNTY REGULAR BOARD MEETING MARCH 20, 2023
6:30 P.M.

Special District Services, Inc. 8785 SW 165th Avenue, Suite 200
Miami, FL 33193

www.riversideparkcdd.org 786.347.2711 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA RIVERSIDE PARK
COMMUNITY DEVELOPMENT DISTRICT
Meeting Room at Mercedes Benz of Cutler Bay 10701 SW 211th Street
Cutler Bay, Florida 33189
REGULAR BOARD MEETING
March 20, 2023
6:30 p.m.

Call to Order
Proof of Publication	Page 1
Establish Quorum
Declaring Vacancy to Seats #1 and #2 followed by Appointments
Administer Oath of Office & Review Board Member Responsibilities and Duties
Election of Officers
Chairman
Vice Chairman
Secretary/Treasurer
Assistant Secretaries
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
1. October 17, 2022 Regular Board Meeting Minutes	Page 2
New Business
Consider Approval of District Counsel Request for Adjustment to Fee Structure	Page 5
Consider Approval of District Engineer Request for Adjustment to Fee Structure	Page 7
Consider Approval of Resolution No. 2023-01 - Revised FY 22/23 Meeting Schedule	Page 9
Consider Approval of Resolution No. 2023-02 – Approving a Proposed Budget for
FY 2023/2024	Page 12
Old Business
Administrative Matters
1. Financial Update	Page 19
Additional Board Member/Staff Comments
Adjourn

Location
Miami-Dade County, Florida
Notice Text	
	RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT REVISED FISCAL YEAR 2022/2023 REGULAR MEETING SCHEDULE
NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Riverside Park Community Development District will hold Regular Meetings in a Meeting Room at the Mercedes Benz of Cutler Bay, located at 10701 SW 211th Street, Cutler Bay, Florida 33189 at 6:30 p.m. on the following dates:
March 20, 2023
May 22, 2023
September 18, 2023
The purpose of the meetings is to conduct any business coming before the Board. Meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Copies of the Agendas for any of the meetings may be obtained from the District's website or by contacting the District Manager at 786-347-2711 Ext. 2011 and/or toll free at 1-877-737-4922 five (5) days prior to the date of the particular meeting.
From time to time one or two Supervisors may participate by telephone; therefore, at the location of these meetings there will be a speaker telephone present so that interested persons can attend the meetings at the above location and be fully informed of the discussions taking place either in person or by telephone communication. Meetings may be continued as found necessary to a time and place specified on the record.
If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to insure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.
In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at any of these meetings should contact the District Manager at 786-347-2711 Ext. 2011 and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.
RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT	
	www.riversideparkcdd.org		
	3/10 23-48/0000650738M	

RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
OCTOBER 17, 2022

CALL TO ORDER

The October 17, 2022, Regular Board Meeting of the Riverside Park Community Development District (the “District”) was called to order at 6:37 p.m. in a Meeting Room at Mercedes Benz of Cutler Bay located at 10701 SW 211th Street, Cutler Bay, Florida 33189.

PROOF OF PUBLICATION

Proof of publication was presented that notice of the Regular Board Meeting had been published in the Miami Daily Business Review on October 7, 2022, as part of the District’s Fiscal Year 2022/2023 Meeting Schedule, as legally required.

ESTABLISH A QUORUM

It was determined that the attendance of Chairperson Lorraine Torres (via phone), Vice Chairman Lariel Torres and Supervisors Ingrid Ojeda and Daniel Alvarez constituted a quorum and it was in order to proceed with the meeting.

Staff also in attendance were: District Manager Gloria Perez of Special District Services, Inc.; and General Counsel Gregory George of Billing, Cochran, Lyles, Mauro & Ramsey, P.A.

ADDITIONS OR DELETIONS TO THE AGENDA

There were no additions or deletions to the agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

There were no comments from the public for items not on the agenda.

APPROVAL OF MINUTES
August 15, 2022, Public Hearing & Regular Board Meeting

The minutes of the August 15, 2022, Public Hearing & Regular Board Meeting were presented for consideration.

A MOTION was made by Supervisor Ojeda, seconded by Supervisor Lorraine Torres and passed unanimously approving the minutes of the August 15, 2022, Public Hearing & Regular Board Meeting, as presented.

NEW BUSINESS
Consider Resolution No. 2022-05 – Adopting an Amended Fiscal Year 2021/2022 Final Budget

Mrs. Perez presented Resolution No. 2022-05, entitled:

RESOLUTION NO. 2022-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2021/2022 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER
189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

Mrs. Perez explained, as done every year for administrative and statutory requirements, within 60 days of any given fiscal year end, the Board adopts a revised/amended budget for said year. The fiscal year ended on September 30, 2022. This is the reason it is administrative in nature (past year’s budget for past year’s expenses) and will serve as the Board’s final approval/ratification of the District’s expenditures for the past fiscal year.

A MOTION was made by Supervisor Ojeda, seconded by Lorraine Torres and unanimously passed adopting Resolution No. 2022-05, adopting a Fiscal Year 2021/2022 Amended Budget.

OLD BUSINESS

There were no Old Business items to come before the Board.

ADMINISTRATIVE MATTERS
Financial Update

Mrs. Perez presented the financials in the meeting book and briefly reviewed them with the Board, pointing out that available funds as of September 30, 2022, were $265,990.95.

BOARD MEMBER/STAFF CLOSING COMMENTS

Mrs. Perez advised that inspections of the District had been conducted and emails had been forwarded to Miami-Dade County regarding the following items:

ADJOURNMENT

There being no further business to come before the Board, a MOTION was made by Supervisor Lorraine Torres, seconded by Supervisor Alvarez and passed unanimously adjourning the Regular Board Meeting at 6:50 p.m.

ATTESTED BY:

Secretary/Assistant Secretary	Chairperson/Vice-Chair

LAW OFFICES
BILLING, COCHRAN, LYLES, MAURO & RAMSEY, P.A.
ESTABLISHED 1977

DENNISE. LYLES JOHN W. MAURO
KENNETH W. MORGAN, JR. RICHARDT. WOULFE CAROL J. HEALY GLASGOW MICHAEL J. PAWELCZYK ANDREW A. RIEF
MANUEL R. COMRAS GINGER E. WALD JEFFERY R. LAWLEY SCOTT C. COCHRAN SHAWN B. MCKAMEY ALINE 0. MARCANTONIO JOHN C. WEBBER

LAS OLAS SQUARE, SUITE 600
515 EAST LAS OLAS BOULEVARD FORT LAUDERDALE, FLORIDA 33301
(954) 764·7150
(954) 764-7279 FAX

PGA NATlONAL OFFICE CENTER
300 AVENUE OF THE CHAMPIONS, SUITE 270
PALM BEACH GARDENS, FLORIDA 33418
(561) 659-5970
(561) 659·6173 FAX

WWW.BILLINGCOCHRAN. COM PLEASE REPLY TO; FORT LAUDERDALE

CHRISTINE A. BROWN GREGORY F. GEORGE BRAD J. KIMBER

Of COUNSEL

CLARK J. COCHRAN, JR. SUSAN F. DELEGAL SHIRLEY A. DELUNA GERALD L. KNIGHT BRUCE M. RAMSEY

STEVEN F. BILLING (1947-1998)
HAYWARD D. GAY (1943·2007)

February 3 2023

VIA E-MAIL ONLY- gperez@sdsinc.org

Ms. Gloria Perez District Manager
Special District Services, Inc. Kendall Office Center
8785 SW 165th Avenue, #200
Miami, FL 33193

Re:		Adjustment to District Counsel Fee Structure Riverside Park Community Development District Our File: 535.03086
Dear Gloria:

This firm's current fee structure has been in place since 2011. Although we are certainly mindful of the necessity to keep increases in the Distri.ct's expenses including the cost of legal services, to a minimum, it has become necessary for us to adjust our hourly rates effective May 1, 2023, as follows:

Attorneys/Partners:
Attorneys/Associates:

$275.00 per hour
$225.00 per hour

This hourly fee structure will be adjusted on a periodic basis in connection with the District s budget process no later than every third Fiscal Year to reflect changes in the Consumer Price Index published by the U. S. Departrnent of Labor. The CPI has reflected a 31.8% increase since the year 2011 and we have not raised our fees during that time.

Ms. Gloria Perez February 3, 2023 Page2

Naturally, should you have any questions or require any further information in support of this adjustment you should feel free to contact me at your convenience. As I think you are aware, we very much appreciate the opportunity to serve as District Counsel as well as your courtesy and cooperation with regard to the necessity of what we believe to be both infrequent and reasonable adjustments to our schedule of professional fees.

MJP/jmp

Alvarez Engineers

8935 NW 35 Lane, Suite 101 Doral, FL 33172
Tel (305) 640-1345
Email Alvarez@AlvarezEng.com Website www.alvarezeng.com

February 16, 2023

Board of Supervisors
Riverside Park Community Development District Attn: District Manager Gloria Perez
Special District Services, Inc.
2501 Burns Road
Palm Beach Gardens, FL 33410

Reference: Via:

Riverside Park Community Development District Alvarez Engineers Personnel Billing Rates
Email Only: gperez@sdsinc.org

Dear Board of Supervisors,

In accordance with the terms of the Engineering Agreement, dated November 28, 2007, between Alvarez Engineers, Inc. and the COD, I would like to respectfully request the Board of Supervisors to consider updating our hourly personnel billing rates and staff classifications to our proposed 2023 rates as shown in the attached table. Our rates were last revised and approved via motion by the Board on May 23, 2016.

u have any questions or if you would like to discuss this further.

Sincerely,

f,,·i:\Acc,)1_.r·1ting\ . n(:om2\'1w.-.ir,::,\,1wri1.-ing i-C1T175 8,,. ciruc du11 ·::\ E 3illii;g P Jti:;s\Eilling '1at'=S {202J)\Distri,:.t fi na?;Er::\ lr ::it:. 1.-1::ri=-.1.:;:=- L t-F ·s\rou·-1'•1
'.'l •1 :;r_:1 1- ,: P,:;t>:1':'. l rxiat-? Let•e"l (2iJ:._ .l-,l lJ).Dc·-

Riverside Park CDD	
Current 2016 Rates	Proposed 2023 Rates	
Principal	$	200.00	Principal	$	220.00	
Chief Engineer				
Senior Engineer	$	170.00	Senior Engineer	$	185.00	
Senior Project Engineer	$	150.00	Engineer 2	$	160.00	
Project Manager				
Project Engineer	$	130.00	Engineer 1	$	140.00	
		Electrical Engineer	$	135.00	
Engineer	$	125.00	Engineer Intern	$	130.00	
CADD	$	95.00	Senior Designer	$	110.00	
		CADD/Computer Technician	$	100.00	
		Senior Engineering Technician	$	95.00	
Engineering Technician	$	85.00	Engineering Technician	$	90.00	
Senior Administrative	$	80.00	Senior Administrative	$	9S.OO	
Administrative	$	50.00	Administrative	$	60.00	

Staff Classification
Principal
Senior Engineer Engineer 2
Engineer 1 Electrical Engineer Engineer Intern Senior Designer
(ADD/Computer Technician Senior Engineering Technician Engineering Technician
Senior Administrative Administra tive

Definition

Professional Engineer with 20+ years of post registration experience Professional Engineer with 10+ years of post registration experience Professional Engineer with S+ years of post registration experience Professional Engineer with O+ years of post registration experience Electrical Engineer with 2+ years of post-graduate experience
Entry level with engineering degree; Engineering Intern License 15+ years of design experience, non-registered
Design and Drafting with 1+ year of experience 5+ years of experience
Entry level, with 0-4 years of experience
Degreed executive assistant with 8+ years of experience Secretary/ Clerical

RESOLUTION NO. 2023-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2022/2023 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, it is necessary for the RIVERSIDE PARK Community Development District ("District") to establish a regular meeting schedule for fiscal year 2022/2023; and

WHEREAS, the Board of Supervisors of the District has set a regular meeting schedule, location and time for District meetings for fiscal year 2022/2023 which is attached hereto and made a part hereof as Exhibit “A”.
WHEREAS, on AUGUST 15, 2022, the Board of Supervisors adopted Resolution No. 2022-04 and now wishes to amend said Resolution by changing the established regular meeting schedule for fiscal year 2022/2023.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT, MIAMI- DADE COUNTY, FLORIDA, AS FOLLOWS:

Section 1.  The regular meeting schedule for fiscal year 2022/2023 setting the time and location of said district meetings approved on AUGUST 15, 2022 is hereby amended as indicated on attached “Exhibit A” and is hereby approved and adopted.

Section 2.  The regular meeting schedule, time and location for meetings for fiscal year 2022/2023 which is attached hereto as Exhibit “A” is hereby adopted and authorized to be published.

PASSED, ADOPTED and EFFECTIVE this 20TH day of MARCH, 2023.

ATTEST:	RIVERSIDE PARK
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT REVISED FISCAL YEAR 2022/2023 REGULAR MEETING SCHEDULE

NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Riverside Park Community Development District will hold Regular Meetings in a Meeting Room at the Mercedes Benz of Cutler Bay, located at 10701 SW 211th Street, Cutler Bay, Florida 33189 at 6:30 p.m. on the following dates:

March 20, 2023
May 22, 2023
September 18, 2023

The purpose of the meetings is to conduct any business coming before the Board. Meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Copies of the Agendas for any of the meetings may be obtained from the District’s website or by contacting the District Manager at 786-347-2711 Ext. 2011 and/or toll free at 1-877-737-4922 five (5) days prior to the date of the particular meeting.

From time to time one or two Supervisors may participate by telephone; therefore, at the location of these meetings there will be a speaker telephone present so that interested persons can attend the meetings at the above location and be fully informed of the discussions taking place either in person or by telephone communication. Meetings may be continued as found necessary to a time and place specified on the record.

If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to insure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.

In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at any of these meetings should contact the District Manager at 786-347-2711 Ext. 2011 and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.

RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT

www.riversideparkcdd.org

PUBLISH: MIAMI DAILY BUSINESS REVIEW	03/10/23

RESOLUTION NO. 2023-02

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2023/2024; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (“Board”) of the Riverside Park Community Development District (“District”) is required by Chapter 190.008, Florida Statutes, to approve a Proposed Budget for each fiscal year; and,

WHEREAS, the Proposed Budget including the Assessments for Fiscal Year 2023/2024 has been prepared and considered by the Board.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT THAT:

Section 1.  The Proposed Budget including the Assessments for Fiscal Year 2023/2024 attached hereto as Exhibit “A” is approved and adopted.

Section 2.  A Public Hearing is hereby scheduled for May 22, 2023 at 6:30 p.m. in the Mercedes Benz of Cutler Bay, 10701 SW 211th Street, Cutler Bay, Florida 33189, and/or utilizing communications media technology (whichever is applicable) for the purpose of receiving public comments on the Proposed Fiscal Year 2023/2024 Budget.

PASSED, ADOPTED and EFFECTIVE this 20th day of March, 2023.

ATTEST:	RIVERSIDE PARK
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairman/Vice Chairman

Riverside Park Community Development District

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024
ANNUAL BUDGET	
Administrative Assessments	63,107	
Maintenance Assessments	38,235	
Debt Assessments	120,339	
Other Revenues	0	
Interest Income	300	
		
TOTAL REVENUES	$	221,981	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Lawn/Landscape Maintenance	16,500	
Entrance Features	1,000	
Miscellaneous Maintenance/Improvements	5,165	
Border Hedge/Monument/Fence	8,275	
Nutritional Control/Mulch	3,500	
Engineering/Inspections	1,500	
Contingency/Reserve	0	
TOTAL MAINTENANCE EXPENDITURES	$	35,940	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	6,000	
Employer Taxes - Payroll	480	
Management	20,316	
Secretarial	2,700	
Legal	8,000	
Assessment Roll	3,500	
Audit Fees	3,700	
Insurance	6,500	
Legal Advertisements	650	
Miscellaneous	825	
Postage	200	
Office Supplies	475	
Dues & Subscriptions	175	
Trustee Fee	4,100	
Continuing Disclosure Fee	250	
Website Management	1,750	
TOTAL ADMINISTRATIVE EXPENDITURES	$	59,621	
		
TOTAL EXPENDITURES	$	95,561	
		
REVENUES LESS EXPENDITURES	$	126,420	
		
Bond Payments	(113,119)	
		
BALANCE	$	13,301	
		
County Appraiser & Tax Collector Fee	(4,434)	
Discounts For Early Payments	(8,867)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022 ACTUAL	
FISCAL YEAR 2022/2023 ANNUAL BUDGET	
FISCAL YEAR 2023/2024 ANNUAL BUDGET	

COMMENTS	
Administrative Assessments	61,477	62,152	63,107	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	39,956	39,191	38,235	Expenditures/.94	
Debt Assessments	120,340	120,339	120,339	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	320	240	300	Estimated At $25 Per Month	
					
TOTAL REVENUES	$	222,093	$	221,922	$	221,981		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Lawn/Landscape Maintenance	15,154	16,500	16,500	No Change From 2022/2023 Budget	
Entrance Features	0	1,000	1,000	No Change From 2022/2023 Budget	
Miscellaneous Maintenance/Improvements	0	6,064	5,165	$899 Decrease From 2022/2023 Budget	
Border Hedge/Monument/Fence	0	8,275	8,275	No Change From 2022/2023 Budget	
Nutritional Control/Mulch	0	3,500	3,500	No Change From 2022/2023 Budget	
Engineering/Inspections	1,825	1,500	1,500	No Change From 2022/2023 Budget	
Contingency/Reserve	0	0	0	Currently $16,270 In Available Funds	

TOTAL MAINTENANCE EXPENDITURES	$	16,979	$	36,839	$	35,940		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	2,200	6,000	6,000	No Change From 2022/2023 Budget	
Employer Taxes - Payroll	168	480	480	Projected At 8% Of Supervisor Fees	
Management	19,164	19,728	20,316	CPI Adjustment (Capped At 3%)	
Secretarial	2,700	2,700	2,700	No Change From 2022/2023 Budget	
Legal	6,090	8,000	8,000	No Change From 2022/2023 Budget	
Assessment Roll	3,500	3,500	3,500	No Change From 2022/2023 Budget	
Audit Fees	3,600	3,600	3,700	$100 Increase From 2022/2023 Budget	
Insurance	5,513	6,205	6,500	Fiscal Year 2022/2023 Expenditure Was $5,926	
Legal Advertisements	570	650	650	No Change From 2022/2023 Budget	
Miscellaneous	695	825	825	No Change From 2022/2023 Budget	
Postage	178	200	200	No Change From 2022/2023 Budget	
Office Supplies	327	500	475	$25 Decrease From 2022/2023 Budget	
Dues & Subscriptions	175	175	175	No Change From 2022/2023 Budget	
Trustee Fee	4,080	4,100	4,100	No Change From 2022/2023 Budget	
Continuing Disclosure Fee	250	250	250	No Change From 2022/2023 Budget	
Website Management	1,750	1,750	1,750	No Change From 2022/2023 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	50,960	$	58,663	$	59,621		
					
TOTAL EXPENDITURES	$	67,939	$	95,502	$	95,561		
					
REVENUES LESS EXPENDITURES	$	154,154	$	126,420	$	126,420		
					
Bond Payments	(114,540)	(113,119)	(113,119)	2024 Principal & Interest Payments	
					
BALANCE	$	39,614	$	13,301	$	13,301		
					
County Appraiser & Tax Collector Fee	(2,132)	(4,434)	(4,434)	Two Percent Of Total Tax Roll	
Discounts For Early Payments	(8,538)	(8,867)	(8,867)	Four Percent Of Total Tax Roll	
					
EXCESS/ (SHORTFALL)	$	28,944	$	-	$	-		
					
Carryover Funds From Prior Year	0	0	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	28,944	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2021/2022 ACTUAL	FISCAL YEAR 2022/2023 BUDGET	FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

Interest Income	
6	
10	
100	
Projected Interest For FY 2023/2024	

NAV Tax Collection	
114,540	
113,119	
113,119	
Maximum Debt Service Collection	

Total Revenues	
$	114,546	
$	113,129	
$	113,219		

EXPENDITURES					

Principal Payments	
75,000	
75,000	
80,000	
Principal Payment Due In 2024	

Interest Payments	
36,563	
32,744	
30,225	
Interest Payments Due In 2024	

Bond Redemption	
10,000	
5,385	
2,994	
Estimated Excess Debt Collections	

Total Expenditures	
$	121,563	
$	113,129	
$	113,219		

Excess/ (Shortfall)	
$	(7,017)	
$	-	
$	-		

Series 2014 Bond Refunding Information
Original Par Amount =	$1,630,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.25% - 8.25%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	May 2014			
Maturity Date =

Par Amount As Of 1/1/23 =	May 2034

$1,045,000			

Riverside Park Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2020/2021	2021/2022	2022/2023	2023/2024	
Assessment	Assessment	Assessment	Projected Assessment	
 Before Discount* 	 Before Discount*	  Before Discount* 		Before Discount*		

Administrative	
$	298.81	
$	299.45	
$	299.45	
$	307.84	
Maintenance	$	195.55	$	194.91	$	194.91	$	186.52	
Debt	$	592.80	$	592.80	$	592.80	$	592.80	
Total	$	1,087.16	$	1,087.16	$	1,087.16	$	1,087.16	

* Assessments Include the Following : 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:
Total Units	205
Prepayments	2
Billed for Debt	203
3/11/2023 4:30 PM	IV

Riverside Park Community Development District

Financial Report For February 2023

Riverside Park Community Development District
Budget vs. Actual
October 2022 through February 2023

	Oct '22 - Feb 23		22-23 Budget		$ Over Budget		% of Budget	
Income								
363.100 ꞏ Admin Assessments	59,182.94		62,152.00		-2,969.06		95.22%	
363.101 ꞏ Maintenance Assessments	37,279.95		39,191.00		-1,911.05		95.12%	
363.810 ꞏ Debt Assessments	114,752.35		120,339.00		-5,586.65		95.36%	
363.820 ꞏ Debt Assessment-Paid To Trustee	-109,083.05		-113,119.00		4,035.95		96.43%	
363.830 ꞏ County Tax Collector Fee	-2,026.25		-4,434.00		2,407.75		45.7%	
363.831 ꞏ Discounts For Early Payments	-8,414.99		-8,867.00		452.01		94.9%	
369.401 ꞏ Interest Income	2,105.24		240.00		1,865.24		877.18%	
Total Income	93,796.19		95,502.00		-1,705.81		98.21%	
Expense								
511.122 ꞏ PR Tax Expense	61.20		480.00		-418.80		12.75%	
511.131 ꞏ Supervisors Fees	800.00		6,000.00		-5,200.00		13.33%	
511.302 ꞏ Border Hedge/Monument/Fence	0.00		8,275.00		-8,275.00		0.0%	
511.303 ꞏ Nutritional Control/Mulch	0.00		3,500.00		-3,500.00		0.0%	
511.307 ꞏ Lawn/Landscape Maintenance	5,243.75		16,500.00		-11,256.25		31.78%	
511.308 ꞏ Miscellaneous Maintenance	0.00		6,064.00		-6,064.00		0.0%	
511.309 ꞏ Entrance Features	0.00		1,000.00		-1,000.00		0.0%	
511.310 ꞏ Engineering	0.00		1,500.00		-1,500.00		0.0%	
511.311 ꞏ Management Fees	8,220.00		19,728.00		-11,508.00		41.67%	
511.312 ꞏ Secretarial Fees	1,125.00		2,700.00		-1,575.00		41.67%	
511.315 ꞏ Legal Fees	1,515.50		8,000.00		-6,484.50		18.94%	
511.318 ꞏ Assessment/Tax Roll	0.00		3,500.00		-3,500.00		0.0%	
511.320 ꞏ Audit Fees	0.00		3,600.00		-3,600.00		0.0%	
511.450 ꞏ Insurance	5,926.00		6,205.00		-279.00		95.5%	
511.480 ꞏ Legal Advertisements	99.48		650.00		-550.52		15.31%	
511.512 ꞏ Miscellaneous	125.01		825.00		-699.99		15.15%	
511.513 ꞏ Postage and Delivery	40.65		200.00		-159.35		20.33%	
511.514 ꞏ Office Supplies	64.95		500.00		-435.05		12.99%	
511.516 ꞏ Website Management Fee	729.15		1,750.00		-1,020.85		41.67%	
511.540 ꞏ Dues, License & Subscriptions	175.00		175.00		0.00		100.0%	
511.733 ꞏ Trustee Fees	0.00		4,100.00		-4,100.00		0.0%	
511.734 ꞏ Continuing Disclosure Fee	0.00		250.00		-250.00		0.0%	
Total Expense	24,125.69		95,502.00		-71,376.31		25.26%	
Net Income		69,670.50			0.00			69,670.50			100.0%	

RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT MONTHLY FINANCIAL REPORT
FEBRUARY 2023

REVENUES	
Annual Budget
10/1/22 - 9/30/23	

Actual Feb-23	
Year To Date Actual
10/1/22 - 2/28/23	
Administrative Assessments	62,152	129	59,183	
Maintenance Assessments	39,191	0	37,280	
Debt Assessments	120,339	0	114,752	
Other Revenue	0	0	0	
Interest Income	240	0	2,105	
				
Total Revenues	$	221,922	$	129	$	213,320	
				
EXPENDITURES				
MAINTENANCE EXPENDITURES				
Lawn/Landscape Maintenance	16,500	0	5,244	
Entrance Features	1,000	0	0	
Miscellaneous Maintenance/Improvements	6,064	0	0	
Border Hedge/Monument/Fence	8,275	0	0	
Nutritional Control/Mulch	3,500	0	0	
Engineering/Inspections	1,500	0	0	
Contingency/Reserve ($16,270 Available)*	0	0	0	
TOTAL MAINTENANCE EXPENDITURES	$	36,839	$	-	$	5,244	
				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	6,000	0	800	
Payroll Taxes - Employer	480	0	61	
Management	19,728	1,644	8,220	
Secretarial	2,700	225	1,125	
Legal	8,000	0	1,516	
Assessment Roll	3,500	0	0	
Audit Fees	3,600	0	0	
Insurance	6,205	0	5,926	
Legal Advertisements	650	0	99	
Miscellaneous	825	10	125	
Postage	200	2	41	
Office Supplies	500	9	65	
Dues & Subscriptions	175	0	175	
Trustee Fee	4,100	0	0	
Continuing Disclosure Fee	250	0	0	
Website Management	1,750	146	729	
TOTAL ADMINISTRATIVE EXPENDITURES	$	58,663	$	2,036	$	18,882	
				
Total Expenditures	$	95,502	$	2,036	$	24,126	
				
Revenues Less Expenditures	$	126,420	$	(1,907)	$	189,194	
				
Bond Payments	(113,119)	0	(109,083)	
				
Balance	$	13,301	$	(1,907)	$	80,111	
				
County Appraiser & Tax Collector Fee	(4,434)	0	(2,026)	
Discounts For Early Payments	(8,867)	0	(8,415)	
				
Excess/ (Shortfall)	$	-	$	(1,907)	$	69,670	
				
Carryover From Prior Year	0	0	0	
				
Net Excess/ (Shortfall)	$	-	$	(1,907)	$	69,670	

* Contingency/Reserve Funds Can Be Used In Fiscal Year 22/23 or in Future Fiscal Years. Original Balance = $36,680. Current Balance = $16,270.

Bank Balance As Of 2/28/23	$	353,991.25	
Accounts Payable As Of 2/28/23	$	3,335.94	
Accounts Receivable As Of 2/28/23	$	-	
Reserve Funds As Of 2/28/23	$	16,270.00	
Available Funds As Of 2/28/23	$	334,385.31	

RIVERSIDE PARK CDD TAX COLLECTIONS 2022-2023

#	

ID#	

PAYMENT FROM	

DATE	

FOR	

Tax Collect Receipts	

Interest Received	

Fees	

Discount	

Net From Tax Collector	Admin Assessment Income (Before Discounts & Fees)	Maint Assessment Income (Before Discounts & Fees)	Debt Assessment Income (Before Discounts & Fees)	Admin Assessment Income (After Discounts & Fees)	Maint Assessment Income (After Discounts & Fees)	Debt Assessment Income (After Discounts & Fees)	

Debt Assessment Paid to Trustee	
									$	221,682	$	62,152	$	39,191	$	120,339	$	62,152	$	39,191	$	120,339		
									$	208,621	$	58,663	$	36,839	$	113,119	$	58,663	$	36,839	$	113,119	$	113,119	
1	1	Miami-Dade Tax Collector	11/23/22	NAV Taxes	$	9,650.99		$	(92.62)	$	(389.28)	$	9,169.09	$  2,706.09	$	1,706.30	$	5,238.60	$  2,572.24	$	1,619.80	$	4,977.05	$	4,977.05	
2	2	Miami-Dade Tax Collector	11/25/22	NAV Taxes	$	7,610.12		$	(73.06)	$	(304.43)	$	7,232.63	$  2,122.26	$	1,338.26	$	4,149.60	$  2,016.43	$	1,271.60	$	3,944.60	$	3,944.60	
3	3	Miami-Dade Tax Collector	12/07/22	NAV Taxes	$  172,265.64		$ (1,653.74)	$  (6,891.00)	$	163,720.90	$ 48,205.62	$	30,397.62	$	93,662.40	$ 45,810.58	$  28,887.52	$	89,022.80	$	89,022.80	
4	4	Miami-Dade Tax Collector	12/22/22	NAV Taxes	$	9,784.44		$	(94.04)	$	(380.53)	$	9,309.87	$  2,728.62	$	1,720.62	$	5,335.20	$  2,595.67	$	1,636.80	$	5,077.40	$	5,077.40	
5	5	Miami-Dade Tax Collector	01/11/23	NAV Taxes	$	11,729.09		$  (112.79)	$	(449.75)	$	11,166.55	$  3,288.84	$	2,073.70	$	6,366.55	$  3,132.60	$	1,972.75	$	6,061.20	$	6,061.20	
6	Int - 1	Miami-Dade Tax Collector	02/13/23	Interest		$  128.71			$	128.71	$	128.71			$	128.71			$	-	
7									$	-							$	-	
8									$	-							$	-	
9									$	-							$	-	
10									$	-							$	-	
11									$	-							$	-	
12									$	-							$	-	
13									$	-							$	-	
14									$	-							$	-	
15									$	-							$	-	
16									$	-							$	-	
					$ 211,040.28	$ 128.71	$ (2,026.25)	$ (8,414.99)	$	200,727.75	$ 59,180.14	$  37,236.50	$ 114,752.35	$ 56,256.23	$  35,388.47	$ 109,083.05	$  109,083.05	

Assessment Roll = $221,682.20	Note: $221,682, $62,152, $39,191 and $120,339 are 2022/2023 Budgeted assessments before discounts and fees.
Note: $208,621, $58,663, $36,839 and $113,119 are 2022/2023 Budgeted assessments after discounts and fees.

$	211,040.28		
$	128.71	$  200,727.75	
$	(59,180.14)	$  (56,256.23)	
$	(37,236.50)	$  (35,388.47)	
$	(114,752.35)	$ (109,083.05)	
$	-	$	-

Riverside Park Community Development District Contingency/Reserve Expenditures
October 2015 - February 2023

	Date		Invoice #		Vendor		Description		Amount	
Contingency/Reserve										
	10/15/2015		Inv# 10152015863		Jag Painting Contractors Inc.		Deposit for invoice 10152015863 (Cleaning & Painting)		2,450.00	
	11/01/2015		Inv# 10152015863A		Jag Painting Contractors Inc.		Final Payment for invoice 10152015863 (Cleaning & Painting)		2,450.00	
	12/07/2015		Inv# 8624		Crespo Lawn Service, Inc.		Installation Of 16 Solar Power Lights		1,210.00	
	02/22/2018		Inv #1304		Royal Plastering Corp.		Fence Repairs & Replacement		14,300.00	

0.00
Total	20,410.00

Original Funds Available For Contingency/Reserve	
Contingency/Reserve Expenditures As Of 2/28/23	
Contingency/Reserve Funds Balance As Of 2/28/23	

$ 36,680.00	
$ 20,410.00	
$ 16,270.00