Northern Riverwalk	
Community Development District	

Proposed Budget	
FY 2027	

Table of Contents

1

2-3

4

5

	General Fund

	Narratives

	Debt Service Fund Series 2019

	Series 2019 Amortization Schedule

6		Assessment Schedule

Northern Riverwalk	
Community Development District	
Proposed Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2026	1/31/26	8 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments - On Roll	$106,304	$-	$106,304	$106,304	$106,304	
Interest income	10,500	3,074	6,147	9,221	7,500	
Carry Forward Surplus	-	266,868	-	266,868	6,290	

TOTAL REVENUES	$116,804	$269,942	$112,451	$382,393	$120,094	

EXPENDITURES:

Administrative						
Engineering	$5,000	$-	$-	$-	$5,000	
Attorney	34,000	43,607	29,894	73,500	34,000	
Annual Audit	4,600	-	4,600	4,600	4,600	
Assessment Administration	7,780	7,630	-	7,630	8,030	
Trustee Fees	4,717	4,445	-	4,445	4,717	
Management Fees	40,000	13,333	26,667	40,000	42,000	
Website Maintenance	1,200	400	800	1,200	1,200	
Telephone	50	-	33	33	50	
Postage & Delivery	350	8	16	24	350	
Insurance General Liability	8,879	7,895	-	7,895	8,879	
Printing & Binding	700	-	467	467	700	
Legal Advertising	2,000	711	1,422	2,133	2,000	
Other Current Charges	460	490	980	1,470	1,500	
Office Supplies	150	-	100	100	150	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Contingencies	250	-	167	167	250	
TOTAL ADMINISTRATIVE	$110,311	$78,693	$65,145	$143,838	$113,601	
Operations & Maintenance						
Field Expenditures						
Drainage System R & R	$2,000	$-	$1,333	$1,333	$2,000	
Contingencies	4,493	-	2,995	2,995	4,493	

TOTAL FIELD EXPENDITURES	$6,493	$-	$4,329	$4,329	$6,493	

TOTAL EXPENDITURES	$116,804	$78,693	$69,473	$148,167	$120,094	

EXCESS REVENUES (EXPENDITURES)	$0	$191,248	$42,978	$234,226	$0	

Gross Assessments	
Less: Discounts & Collections 6%	
Net Assessments	

$	113,089	
	(6,785) 	
 $	106,304 	

Product	Assessable Units	Total Gross Assessment	FY26
Gross Per Unit	FY27
Gross Per Unit	Increase/ (Decrease)	

Commercial/Retail						
30434106540000020	1	$	32,207.15	$	32,207.15	$	32,207.15	$	-	
30434106540010000	1	$	26,234.71	$	26,234.71	$	26,234.71	$	-	
30434106540020000	1	$	3,767.68	$	3,767.68	$	3,767.68	$	-	
30434106540030010	1	$	8,555.32	$	8,555.32	$	8,555.32	$	-	
30434106540030020	1	$	9,113.30	$	9,113.30	$	9,113.30	$	-	
30434106540040000	1	$	15,581.60	$	15,581.60	$	15,581.60	$	-	
30434106540050000	1	$	17,629.60	$	17,629.60	$	17,629.60	$	-	

Total	7	$ 113,089.36	

Northern Riverwalk	
Community Development District	
Budget Narrative	

REVENUES	

Special Assessments-Tax Roll	
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.	
Interest	
The District earns interest on the monthly average collected balance for each of their investment accounts.	

Expenditures - Administrative	

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 specifically requested assignments.	
Attorney		
The District’s Attorney, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.	
Annual Audit		
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 contracted fees from the previous year engagement plus anticipated increase.	
Assessment Roll Administration	
GMS SF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services. In additon, Palm Beach County Property Appraiser charges the District to utilize the County’s Tax Roll
for their assessments.	
GMS	$5,250	
Property Appraiser	$2,780 	
Total	$8,030	
Trustee Fees		
The District bonds will be held and administered by a Trustee. This represents the trustee annual fee.	
Management Fees		
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-South Florida, LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.	
Website Maintenance		
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated monthly.	
Communication - Telephone	
New internet and Wi-Fi service for Office.	
Postage and Delivery		
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	
Insurance General Liability	
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.	

Printing and Binding		
Copies used in the preparation of agenda packages, required mailings, and other special projects.	
Legal Advertising		
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper
of general circulation.	

Northern Riverwalk	
Community Development District	
Budget Narrative	

Expenditures - Administrative (continued)	
Other Current Charges	
This includes monthly bank charges and any other miscellaneous expenses that incur during the year.	
Office Supplies	
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.	
Due, Licenses & Subscriptions	
The District is required to pay an annual fee to the Florida Department of Commerce for $175.	
Contingencies	
A contingency for any unanticipated and unscheduled cost to the District.	
Expenditures – Field	

Drainage System R & R	
The district will reserve funds for the renewal and replacement of components of the drainage system. It is estimated that no renewal or replacement funds will need to be expended in the first 10 years of the system operating.	
Contingency	
Any unscheduled repairs and maintenance that the District should incur during the fiscal year.	

Northern Riverwalk	
Community Development District	
Proposed Budget	
Debt Service Series 2019 Special Assessment Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2026	1/31/26	8 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$1,542,900	$-	$1,542,900	$1,542,900	$1,542,900	
Interest Earnings - Stateboard	5,000	1,201	2,403	3,604	5,000	
Interest Earnings	25,000	17,559	35,118	52,677	25,000	
Carry Forward Surplus (1)	1,281,246	1,353,012	-	1,353,012	1,423,390	

TOTAL REVENUES	$2,854,146	$1,371,772	$1,580,421	$2,952,193	$2,996,290	

EXPENDITURES:

Interest - 11/1	$419,021	$419,021	$-	$419,021	$404,924	
Principal - 11/1	704,859	704,859	-	704,859	733,053	
Interest - 5/1	404,924	-	404,924	404,924	390,263	

TOTAL EXPENDITURES	$1,528,803	$1,123,879	$404,924	$1,528,803	$1,528,239	

TOTAL EXPENDITURES	$1,528,803	$1,123,879	$404,924	$1,528,803	$1,528,239	

EXCESS REVENUES (EXPENDITURES)	$1,325,343	$247,893	$1,175,497	$1,423,390	$1,468,051	

Interest Due 11/1/27	$390,262.59	
Principal Due 11/1/27	$762,375.00	
	$1,152,637.59	

(1) Carry Forward is Net of Reserve Requirement

Gross Assessments	
Less: Discounts & Collections 5%	
Net Assessments	

$	1,641,383	
	(98,483) 	
 $  1,542,900 	

Product	Assessable Units	Total Gross Assessment	FY26
Gross Per Unit	FY27
Gross Per Unit	Increase/ (Decrease)	

Commercial/Retail						
30434106540000020	1	$	467,455.77	$  467,455.77	$	467,455.77	$	-	
30434106540010000	1	$	380,771.50	$  380,771.50	$	380,771.50	$	-	
30434106540020000	1	$	54,684.23	$	54,684.23	$	54,684.23	$	-	
30434106540030010	1	$	124,172.26	$  124,172.26	$	124,172.26	$	-	
30434106540030020	1	$	132,270.74	$  132,270.74	$	132,270.74	$	-	
30434106540040000	1	$	226,151.84	$  226,151.84	$	226,151.84	$	-	
30434106540050000	1	$	255,876.63	$  255,876.63	$	255,876.63	$	-	

Total	7	$  1,641,382.97	

Northern Riverwalk	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2019 Special Assessment Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/26	20,246,182	4.000%	733,053	404,924		
05/01/27	19,513,130	4.000%	-	390,263	1,542,900.18	
11/01/27	19,513,130	4.000%	762,375	390,263		
05/01/28	18,750,755	4.000%	-	375,015	1,542,900.18	
11/01/28	18,750,755	4.000%	792,870	375,015		
05/01/29	17,957,885	4.000%	-	359,158	1,542,900.18	
11/01/29	17,957,885	4.000%	824,585	359,158		
05/01/30	17,133,300	4.000%	-	342,666	1,542,900.19	
11/01/30	17,133,300	4.000%	857,568	342,666		
05/01/31	16,275,732	4.000%	-	325,515	1,542,900.06	
11/01/31	16,275,732	4.000%	891,871	325,515		
05/01/32	15,383,861	4.000%	-	307,677	1,542,900.23	
11/01/32	15,383,861	4.000%	927,546	307,677		
05/01/33	14,456,315	4.000%	-	289,126	1,542,900.20	
11/01/33	14,456,315	4.000%	964,648	289,126		
05/01/34	13,491,667	4.000%	-	269,833	1,542,900.09	
11/01/34	13,491,667	4.000%	1,003,233	269,833		
05/01/35	12,488,434	4.000%	-	249,769	1,542,900.16	
11/01/35	12,488,434	4.000%	1,043,363	249,769		
05/01/36	11,445,071	4.000%	-	228,901	1,542,900.04	
11/01/36	11,445,071	4.000%	1,085,097	228,901		
05/01/37	10,359,974	4.000%	-	207,199	1,542,900.16	
11/01/37	10,359,974	4.000%	1,128,501	207,199		
05/01/38	9,231,473	4.000%	-	184,629	1,542,900.11	
11/01/38	9,231,473	4.000%	1,173,641	184,629		
05/01/39	8,057,832	4.000%	-	161,157	8,380,144.76	
11/01/39	8,057,832	4.000%	8,057,832	161,157		

Total	$20,246,182	$7,786,741	$28,032,923	

Northern Riverwalk	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2026-2027	

Neighborhood	O&M Units	Bonds Units
2019	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2027	
FY2026	Increase/ (decrease)	
FY 2027	
FY2026	Increase/ (decrease)	
FY 2027	
FY2026	Increase/ (decrease)	

Commercial/Retail	

7	

7	

$113,089.36	

$113,089.36	

$0.00	

$1,641,382.98	

$1,641,382.98	

$0.00	

$1,754,472.34	

$1,754,472.34	

$0.00	
Total	7	7										

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