Sunbridge
Stewardship District
3501 Quadrangle Blvd., Suite 270, Orlando, FL 32817
Phone: 407-723-5935
https://www.sunbridgesd.com

Notice is hereby given that the Sunbridge Stewardship District will hold a meeting of the Board of Supervisors on Thursday, October 2, 2025, at 11:00 a.m. at 6900 Tavistock Lakes Blvd, Ste 200, Orlando, FL 32827. Questions or comments on the Board Meeting or proposed agenda may be addressed to Lynne Mullins at mullinsl@pfm.com or (407) 723-5900. A quorum (consisting of at least three of the five Board Members) will be confirmed prior to the start of the Board Meeting.

Please use the following information to join the telephonic conferencing via Microsoft Teams:

Phone: +1 689-218-0591 Code: 143682325#

BOARD OF SUPERVISORS’ MEETING AGENDA

Organizational Matters
Roll Call to Confirm a Quorum
Public Comment Period
Consideration of the Minutes of the September 4, 2025, Board of Supervisors’ Meeting

Business Matters
Public Hearing on the District’s Use of the Uniform Method of Levying, Collection and Enforcing Non-Ad Valorem Assessments
Public Comments and Testimony
Board Comments
Consideration of Resolution 2025-12, Adopting the Uniform Method
Consideration of Weslyn Park Tree Replacement
Ratification of FY 2026 Egis Insurance Package
Consideration of First Amendment to Developer Deficit Funding Agreement
Consideration of Developer Deficit Funding Agreement with Reimbursement
Ratification of Operation and Maintenance Expenditures Paid in August 2025 in an amount totaling $83,079.82
Ratification of Requisition No. 11 Paid in August 2025 in an amount totaling $3,546,266.49
Review of District’s Financial Position and Budget to Actual YTD

Other Business
Staff Reports
District Counsel
District Manager
District Engineer
District Landscape Supervisor

Supervisor Requests

Adjournment

Sunbridge Stewardship District

Minutes of the September 4, 2025, Board of Supervisors’ Meeting

SUNBRIDGE STEWARDSHIP DISTRICT BOARD OF SUPERVISORS’ MEETING
Thursday, September 4, 2025, at 11:00 a.m.
6900 Tavistock Lakes Blvd., Ste. 200, Orlando, FL 32827

Board Members Present:			
Richard Levey	Chair		
Rob Adams	Vice Chair	(via phone)	
Katia Moraes	Assistant Secretary		
Ron Domingue	Assistant Secretary		
Also Present:			
Lynne Mullins	PFM		
Amanda Lane	PFM	(via phone)	
Jennifer Walden	PFM	(via phone)	
Blake Firth	PFM	(via phone)	
JD Humphreys	SLR		
DJ Batten	Berman	(via phone)	
Eddie Padua	Berman	(via phone)	
Drew Dawson	Tavistock		
Rudy Bautista	Tavistock		
Cristyann Courtney	Tavistock		
Tucker Mackie	Kutak Rock	(via phone)	
Nicolle van Valkenburg	P&B		
Don Whyte	SLR	(via phone)	
Chris Wilson	Tavistock		

FIRST ORDER OF BUSINESS	ORGANIZATIONAL MATTERS

Roll Call to Confirm a Quorum

The meeting was called to order at 11:00 a.m. The Board Members, staff, and public in attendance are outlined above.

SECOND ORDER OF BUSINESS	Public Comment Period

Dr. Levey opened the floor for public comments. There were no public comments.

THIRD ORDER OF BUSINESS	Consideration of the Minutes of August 7, 2025, Board of Supervisors’ Meeting

The Board reviewed the minutes.

On MOTION by Mr. Domingue, seconded by Ms. Moraes, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District approved the Minutes of the August 7, 2025, Board of Supervisors’ Meeting.

FOURTH ORDER OF BUSINESS	Consideration of Resolution 2025-11, Amending the Annual Meeting Schedule for FY 2026

Ms. Mullins reviewed the meeting schedule and noted the Construction Committee meetings needed to be added. These meetings will take place on the second Tuesday of each month, at this location, at 1:30 p.m., and will start in October.

On MOTION by Ms. Moraes, seconded by Mr. Domingue, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District approved Resolution 2025-11, Amending the Annual Meeting Schedule for FY 2026.

FIFTH ORDER OF BUSINESS	BUSINESS MATTERS
Consideration of Conveyance Parcel of Lake Myrtle Island

Ms. Mackie gave an overview of the conveyance and noted this is at the request of the Developer. Ms. Mullins has the final document for execution.
There was brief discussion regarding the operating and maintenance expenses related to the conveyance. Ms. Mullins noted there will not be any operating and maintenance expenses and all liability issues are covered by the District’s insurance.

There was discussion regarding future expenses related to the pond and if it is a conservation area. Mr. Humphreys noted the land survey and analysis has been completed.
It was noted with the conveyance, the District would control future use of the island and be responsible for those who are using it. Dr. Levey recommended working with the Developer to create usage rules and post signage based on those rules. This island will be an extension of the trail network.
There was brief discussion regarding the liability of the District.

On MOTION by Mr. Domingue, seconded by Ms. Moraes, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District approved the Conveyance Parcel of Lake Myrtle Island.

SIXTH ORDER OF BUSINESS	Ratification of Work Authorization for Bridge Light and Driver Repairs

Ms. Mullins gave an overview of the work authorization. She noted that there was a resident complaint regarding the lights that were out on Voyager. Berman has submitted a proposal in the amount of $2,200.00 to replace the lighting, which was approved by Dr. Levey.
Mr. Padua noted the lighting is weather-resistant and have a 3-year warranty.

There was brief discussion regarding the type of lighting and location. It was noted there should be a line item for lighting maintenance in the budget moving forward.

On MOTION by Ms. Moraes, seconded by Mr. Domingue, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District ratified the Work Authorization for a Bridge Light and Driver Repairs.

SEVENTH ORDER OF BUSINESS	Ratification of Operation and Maintenance Expenditures Paid in July 2025 in an amount totaling $22,556.80

Ms. Mullins noted these were previously approved and paid. This is solely for ratification.

On MOTION by Mr. Domingue, seconded by Ms. Moraes, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District ratified the Operation and Maintenance Expenditures Paid in July 2025 in an amount totaling $22,556.80.

EIGHTH ORDER OF BUSINESS	Review of District’s Financial Position and Budget to Actual YTD

Ms. Mullins stated that as of July 2025, the District has spent 102% of their budget. She noted District Staff is working with the Developer for a solution.
No action was required by the Board.

NINTH ORDER OF BUSINESS	OTHER BUSINESS
Staff Reports

District Counsel –	No report.

District Manager –	Ms. Mullins noted the next meeting is October 2, 2025. She also noted the
annual Ethics Training is due by December 31 and links have been emailed.

District Engineer –	No report.

District Landscape –	No report.

TENTH ORDER OF BUSINESS	Supervisor Requests & Audience Comments

There were no further audience comments or Supervisor requests at this time.

ELEVENTH ORDER OF BUSINESS	Adjournment

Dr. Levey called for a motion to adjourn.

On MOTION by Mr. Domingue, seconded by Ms. Moraes, with all in favor, the September 4, 2025, Meeting of the Board of Supervisors for the Sunbridge Stewardship District was adjourned.

Secretary / Assistant Secretary	Chair / Vice Chair

Sunbridge Stewardship District

Public Hearing on the District’s Use of the Uniform Method of Levying, Collection and Enforcing
Non-Ad Valorem Assessments

Sunbridge Stewardship District

Resolution 2026-01, Adopting the Uniform Method

RESOLUTION 2026-01

RESOLUTION OF THE BOARD OF SUPERVISORS OF THE SUNBRIDGE STEWARDSHIP DISTRICT EXPRESSING ITS INTENT TO UTILIZE THE UNIFORM METHOD OF LEVYING, COLLECTING, AND ENFORCING NON-AD VALOREM ASSESSMENTS WHICH MAY BE LEVIED BY THE SUNBRIDGE STEWARDSHIP DISTRICT IN ACCORDANCE WITH SECTION 197.3632, FLORIDA STATUTES; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Sunbridge Stewardship District (“District”) was established pursuant to the provisions of Chapter 2020-197, Laws of Florida, as amended (“Act”), which authorizes the District to levy certain special assessments pursuant to Chapter 170, 189, and 197 Florida Statutes, in order to finance, fund, plan, establish, acquire, construct or reconstruct, enlarge or extend, equip, operate, and maintain District services, facilities, and infrastructure, paying principal and interest on any and all of its indebtedness or for any other purpose permitted by the Act; and
WHEREAS, the above referenced assessments are non-ad valorem in nature and, therefore, may be collected under the provisions of Section 197.3632, Florida Statutes, in which the State of Florida has provided a uniform method for the levying, collecting, and enforcing such non-ad valorem assessments; and

WHEREAS, pursuant to Section 197.3632, Florida Statutes, the District has caused notice of a public hearing to be advertised weekly in a newspaper of general circulation within Osceola and Orange Counties for four (4) consecutive weeks prior to such hearing.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE SUNBRIDGE STEWARDSHIP DISTRICT:
SECTION 1. The District upon conducting its public hearing as required by Section 197.3632, Florida Statutes, hereby expresses its intent to use the uniform method of collecting special assessments imposed by the District as provided in Chapters 170, 189, and 197, Florida Statutes, each of which are non-ad valorem assessments which may be collected annually pursuant to the provisions of the Act, in order to finance, fund, plan, establish, acquire, construct or reconstruct, enlarge or extend, equip, operate, and maintain District services, facilities, and infrastructure, paying principal and interest on any and all of its indebtedness or for any other purpose permitted by the Act. The legal description of the boundaries of the real property subject to a levy of assessments is attached and made a part of this Resolution as Exhibit A. The non-ad valorem assessments and the District’s use of the uniform method of collecting its non- ad valorem assessment(s) may continue in any given year when the Board of Supervisors determines that use of the uniform method for that year is in the best interests of the District.

SECTION 2.  The District’s Secretary is authorized to provide the Property Appraiser and Tax Collector of Osceola County, the Property Appraiser and Tax Collector of Orange County, and the Department of Revenue of the State of Florida with a copy of this Resolution and enter into any agreements with the Property Appraiser and/or Tax Collector necessary to carry out the provisions of this Resolution.
SECTION 3.  If any provision of this Resolution is held to be illegal or invalid, the other provisions shall remain in full force and effect.

SECTION 4.  This Resolution shall become effective upon its passage and shall remain in effect unless rescinded or repealed.
PASSED AND ADOPTED this 2nd day of October, 2025.

ATTEST:	SUNBRIDGE STEWARDSHIP DISTRICT

Secretary/Assistant Secretary	Chairman, Board of Supervisors

Exhibit A:	Legal Description

Exhibit A

	
Sunbridge Stewardship District

Weslyn Park Tree Replacement

Weslyn Park Tree Replacement Request SSD

3130 Vanguard Ct – Lot 281 – SSD responsibility

3023 Mirage Pl - Lot 140 – SSD responsibility

3012 Polaris Dr – Lot 161 – SSD responsibility

3114 Voyager Ave – Lot 132 - SSD responsibility

6581 Quest Street – Lot 170 - SSD responsibilit

	
Sunbridge Stewardship District

FY 2026 Egis Insurance Package

F

JFLORIDA
INSURANCE
ALLIANCE

Egis Insurance & Risk Advisors
Is pleased to provide a Proposal of Insurance Coverage for:

Sunbridge Stewardship District

Please review the proposed insurance coverage terms and conditions carefully. Written request to bind must be received prior to the effective date of coverage.

The brief description of coverage contained in this document is being provided as an accommodation only and is not intended to cover or describe all Coverage Agreement terms. For more complete and detailed information relating to the scope and limits of coverage, please refer directly to the Coverage Agreement documents. Specimen forms are available upon request.

About FIA

Florida Insurance Alliance ("FIA"), authorized and regulated by the Florida Office of Insurance Regulation, is a non-assessable, governmental insurance Trust. FIA was created in September 2011 at a time when a large number of Special Taxing Districts were having difficulty obtaining insurance.
Primarily, this was due to financial stability concerns and a perception that these small to mid-sized Districts had a disproportionate exposure to claims. Even districts that were claims free for years could not obtain coverage. FIA was created to fill this void with the goal of providing affordable insurance coverage to Special Taxing Districts. Today, FIA proudly serves and protects over 1,000 public entity members.

Competitive Advantage
FIA allows qualifying Public Entities to achieve broad, tailored coverages with a cost-effective insurance program. Additional program benefits include:
Insure-to-value property limits with no coinsurance penalties
First dollar coverage for "alleged" public official ethics violations
Proactive in-house claims management and loss control department
Risk management services including on-site loss control, property schedule verification and contract reviews
Complimentary Property Appraisals
Online Risk Management Education & Training portal
Online HR & Benefits Support portal
HR Hotline
Safety Partners Matching Grant Program

How are FIA Members Protected?
FIA employs a conservative approach to risk management. Liability risk retained by FIA is fully funded prior to the policy term through member premiums. The remainder of the risk is transferred to reinsurers. FIA's primary reinsurers, Lloyds of London and Hudson Insurance Company, both have AM Best A XV (Excellent) ratings and surplus of $2Billion or greater.

In the event of catastrophic property losses due to a Named Storm (i.e., hurricane), the program bears no risk as all losses are passed on to the reinsurers.

What Are Members Responsible For?
As a non-assessable Trust, our members are only responsible for two items:
Annual Premiums
Individual Member Deductibles

FIA Bylaws prohibit any assessments or other fees.

Additional information regarding FIA and our member services can be found at www.fia360.org.

Quotation being provided for:

Sunbridge Stewardship District c/o PFM Group Consulting, LLC
3501 Quadrangle Boulevard, Suite 270
Orlando, FL 32817

Term: October 1, 2025 to October 1, 2026

Quote Number: 100125366

PROPERTY COVERAGE

SCHEDULE OF COVERAGES AND LIMITS OF COVERAGE
COVERED PROPERTY	
Total Insured Values-Building and Contents - Per Schedule on file totalling	$520,433	
Loss of Business Income	$1,000,000	
Additional Expense	$1,000,000	
Inland Marine	
Scheduled Inland Marine	Not Included	

It is agreed to include automatically under this Insurance the interest of mortgagees and loss payees where applicable without advice.

	Valuation	Coinsurance	
Property	Replacement Cost	None	
Inland Marine	Actual Cash Value	None	

DEDUCTIBLES:	$2,500	Per Occurrence, All other Perils, Building & Contents and Extensions of Coverage.	
	5%	Total Insured Values per building, including vehicle values, for "Named Storm" at each affected location throughout Florida subject to a minimum of $10,000 per
occurrence, per Named Insured.	
	Per Attached Schedule	Inland Marine	

Special Property Coverages	
Coverage	Deductibles	Limit	
Earth Movement	$2,500_	Included	
Flood	$2,500 *	Included	
Boiler & Machinery	$2,500	Included	
TRIA		Included	
*Except for Zones A & V (see Terms and Conditions) excess of NFIP, whether purchased or not

TOTAL PROPERTY PREMIUM	$6,453

Extensions of Coverage
If marked with an "X" we will cover the following EXTENSIONS OF COVERAGE under this Agreement, These limits of liability do not increase any other applicable limit of liability.

(X)	Code	Extension of Coverage	Limit of Liability	
X	A	Accounts Receivable	$500,000 in any one occurrence	

X	
B	
Animals	$1,000 any one Animal
$5,000 Annual Aggregate in any one agreement period	

X	
C	
Buildings Under Construction	As declared on Property Schedule, except new buildings being erected at:
sites other than a covered location which is limited to $250,000 estimated final contract value any one construction project.	
X	D	Debris Removal Expense	$250,000 per insured or 25% of loss, whichever is greater	

X	
E	Demolition Cost, Operation of Building
Laws and Increased Cost of
Construction	
$500,000 in any one occurrence	
X	F	Duty to Defend	$100,000 any one occurrence	
X	G	Errors and Omissions	$250,000 in any one occurrence	
X	H	Expediting Expenses	$250,000 in any one occurrence	
X	I	Fire Department Charges	$50,000 in any one occurrence	
X	J	Fungus Cleanup Expense	$50,000 in the annual aggregate in any one occurrence	

X	
K	Lawns, Plants, Trees and Shrubs	$50,000 in any one occurrence	
X	L	Leasehold Interest	Included	
X	M	Air Conditioning Systems	Included	

X	

N	
New locations of current Insureds	$1,000,000 in any one occurrence for up to 90 days, except 60 days for Dade, Broward, Palm Beach from the date such new location(s) is first purchased, rented or occupied whichever is earlier. Monroe County on
prior submit basis only	

X	
0	Personal property of Employees	
$500,000 in any one occurrence	
X	p	Pollution Cleanup Expense	$50,000 in any one occurrence	
X	Q	Professional Fees	$50,000 in any one occurrence	
X	R	Recertification of Equipment	Included	
X	s	Service Interruption Coverage	$500,000 in any one occurrence	
X	T	Transit	$1,000,000 in any one occurrence	

X	u	Vehicles as Scheduled Property	
Included	
X	V	Preservation of Property	$250,000 in any one occurrence	

X	w	Property at Miscellaneous Unnamed Locations	
$250,000 in any one occurrence	

X	
X	Piers, docs and wharves as Scheduled Property	
Included on a prior submit basis only	

X	y	Glass and Sanitary Fittings Extension	
$25,000 any one occurrence	
X	z	Ingress/ Egress	45 Consecutive Days	
X	AA	Lock and Key Replacement	$2,500 any one occurrence	

X	
BB	Awnings, Gutters and Downspouts	
Included	

X	cc	
Civil or Military Authority	
45 Consecutive days and one mile	

CRIME COVERAGE

Description	Limit	Deductible	
Forgery and Alteration	$100,000	$1,000	
Theft, Disappearance or Destruction	$100,000	$1,000	
Computer Fraud including Funds Transfer Fraud	$100,000	$1,000	
Employee Dishonesty, including faithful performance, per loss	$100,000	$1,000	

Deadly Weapon Protection Coverage

Coverage	Limit	Deductible	
Third Party Liability	$1,000,000	$0	
Property Damage	$1,000,000	$0	
Crisis Management Services	$250,000	$0	

AUTOMOBILE COVERAGE

Coverages	Covered Autos	Limit	Premium	
Covered Autos Liability	8,9	$1,000,000	Included	
Personal Injury Protection	N/A		Not Included	
Auto Medical Payments	N/A		Not Included	
Uninsured Motorists including Underinsured
Motorists	N/A		Not Included	
Physical Damage Comprehensive Coverage	N/A	Actual Cash Value Or Cost Of Repair, Whichever Is Less, Minus Applicable Deductible (See Attached Schedule)
For Each Covered Auto, But No Deductible Applies To Loss Caused By Fire or Lightning.

See item Four for Hired or Borrowed Autos.	Not Included	
Physical Damage Specified Causes of Loss Coverage	N/A	Actual Cash Value Or Cost Of Repair, Whichever Is Less, Minus Applicable Deductible (See Attached Schedule)
For Each Covered Auto For Loss Caused By Mischief Or Vandalism

See item Four for Hired or Borrowed Autos.	Not Included	
Physical Damage Collision Coverage	N/A	Actual Cash Value Or Cost Of Repair, Whichever Is Less, Minus Applicable Deductible (See Attached Schedule)
For Each Covered Auto

See item Four for Hired or Borrowed Autos.	Not Included	
Physical Damage Towing And Labor	N/A	$0 For Each Disablement Of A Private Passenger Auto	Not Included	

GENERAL LIABILITY COVERAGE (Occurrence Basis)
Bodily Injury and Property Damage Limit Personal Injury and Advertising Injury
Products & Completed Operations Aggregate Limit Employee Benefits Liability limit, per person Herbicide & Pesticide Aggregate Limit
Medical Payments Limit Fire Damage Limit
No fault Sewer Backup Limit General Liability Deductible
PUBLIC OFFICIALS AND EMPLOYMENT PRACTICES LIABILITY (Claims Made)

$1,000,000

Included Included
$1,000,000

$1,000,000

$5,000

Included

$25,000/$250,000

$0

Public Officials and Employment Practices Liability Limit

Public Officials and Employment Practices Liability Deductible

Per Claim Aggregate

$1,000,000
$2,000,000
$0

Supplemental Payments: Pre-termination $2,500 per employee - $5,000 annual aggregate. Non-Monetary $100,000 aggregate.
Cyber Liability sublimit included under POL/EPLI Media Content Services Liability
Network Security Liability Privacy Liability
First Party Extortion Threat First Party Crisis Management
First Party Business Interruption
Limit: $100,000 each claim/annual aggregate Fraudulent Instruction: $25,000

EXCESS LIABILITY COVERAGE		
Aggregate Limit	Aggregate	$1,000,000	
Retention		$0	

Excess liability applies over and above the following underlying lines of coverage in this quote: General Liability
Public Officials Liability Auto Liability
**Excess coverage does not apply to Employment Practices Liability Insurance {EPLI).

FJ:'l�

�FLORIDA INSURANCE ALLIANCE
PREMIUM SUMMARY

Sunbridge Stewardship District c/o PFM Group Consulting, LLC
3501 Quadrangle Boulevard, Suite 270
Orlando, FL 32817

Term: October 1, 2025 to October 1, 2026

Quote Number: 100125366

PREMIUM BREAKDOWN

Property (Including Scheduled Inland Marine) Crime

$6,453

$500

Automobile Liability	Not Included

Hired Non-Owned Auto	Included

Auto Physical Damage	Not Included

General Liability

Public Officials and Employment Practices Liability Deadly Weapon Protection Coverage
Excess Liability

TOTAL PREMIUM DUE

$3,885

$3,178

Included

$3,532

$17,548

IMPORTANT NOTE
Defense Cost - Outside of Limit, Does Not Erode the Limit for General Liability, Public Officials Liability, and Employment related Practices Liability.

Deductible does not apply to defense cost. Self-Insured Retention does apply to defense cost.

Additional Notes: (None)

�FLORIDA
INSURANCE

�	 ALLIANCE

PARTICIPATION AGREEMENT

Application for Membership in the Florida Insurance Alliance

The undersigned local governmental entity, certifying itself to be a public agency of the State of Florida as defined in Section 163.01, Florida Statutes, hereby formally makes application with the Florida Insurance Alliance ("FIA") for continuing liability and/or casualty coverage through membership in FIA, to become effective 12:01 a.m., 10/01/2025, and if accepted by the FIA's duly authorized representative, does hereby agree as follows:

That, by this reference, the terms and provisions of the lnterlocal Agreement creating the Florida Insurance Alliance are hereby adopted, approved and ratified by the undersigned local governmental entity. The undersigned local governmental entity certifies that it has received a copy of the aforementioned lnterlocal Agreement and further agrees to be bound by the provisions and obligations of the lnterlocal Agreement as provided therein;

To pay all premiums on or before the date the same shall become due and, in the event Applicant fails to do so, to pay any reasonable late penalties and charges arising therefrom, and all costs of collection thereof, including reasonable attorneys' fees;

To abide by the rules and regulations adopted by the Board of Directors;

That should either the Applicant or the Fund desire to cancel coverage; it will give not less than thirty (30) days prior written notice of cancellation;

That all information contained in the underwriting application provided to FIA as a condition precedent to participation in FIA is true, correct and accurate in all respects.

Sunbridge Stewardship District

Print Name

Print Name

IS HEREBY APPROVED FOR MEMBERSHIP IN THIS FUND, AND COVERAGE IS EFFECTIVE October 1, 2025

Administrator

By: 	

F--�� 

FLORIDA INSURANCE
ALLIANCE

PROPERTY VALUATION AUTHORIZATION

Sunbridge Stewardship District c/o PFM Group Consulting, LLC
3501 Quadrangle Boulevard, Suite 270
Orlando, FL 32817

QUOTATIONS TERMS & CONDITIONS
Please review the quote carefully for coverage terms, conditions, and limits.
The coverage is subject to 25% minimum earned premium as of the first day of the "Coverage Period".
Total premium is late if not paid in full within 30 days of inception, unless otherwise stated.
Property designated as being within Flood Zone A or V (and any prefixes or suffixes thereof) by the Federal Emergency Management Agency (FEMA), or within a 100 Year Flood Plain as designated by the United States Army Corps of Engineers, will have a Special Flood Deductible equal to all flood insurance available for such property under the National Flood Insurance Program, whether purchased or not or 5% of the Total Insured Value at each affected location whichever the greater.
The Florida Insurance Alliance is a shared limit. The limits purchased are a per occurrence limit and in the event an occurrence exhaust the limit purchased by the Alliance on behalf of the members, payment to you for a covered loss will be reduced pro-rata based on the amounts of covered loss by all members affected by the occurrence. Property designated as being within.
Coverage is not bound until confirmation is received from a representative of Egis Insurance & Risk Advisors.

I give my authorization to bind coverage for property through the Florida Insurance Alliance as per limits and terms listed below.

0	Building and Content TIV
D	Inland Marine

D	Auto Physic

Signature: Name: Title:

$520,433	As per schedule attached Not Included
Not Included

g/,9/2025
I	i

F--�� 

FLORIDA INSURANCE

ALLIANCE

Schedule Items Effective As of: 10/01/2025
 Property Schedule	
Sunbridge Stewardship District

Policy No.: Agent:

100125366
Egis Insurance Advisors LLC (Boca Raton, FL)

Unit#	Description
Address	Year Built	Eff. Date	Building Value	Total Insured Value	
		Const	Type	Term Date	Contents Value		
	Roof Shape	I	Roof Pitch			Roof Coverimz	I Coverin	Reolaced I Roof Yr Bit	

1	Monument sign

Cyrils Drive
St. Cloud FL 34771	2022	10/01/2025	$84 460	
$84,460	
		
Non combustible	10/01/2026			
	I		I	I	
Unit#	Description Address	Year Built	Eff. Date	Building Value	Total Insured Value	
		Const Type	Term Date	Contents Value		
	Roof Shape	I	Roof Pitch		Roof Coverine	I Coverin	Replaced I Roof Yr Bit	
	Boardwalk on Nature Trail including Signage	2025	10/01/2025	$435,973		

	N=1455368.25 E=597298.17 / N=1455358.13 E=597297.07 &					

2	N=1455638.26 E=597190.72 / N=1455633.79 E=597181.54 *2nd Boardwalk N=14S5151.9S E=596924.71 / N=l455143.61 E=S96918.54 & N=1454990.40 E=597061.87 / N=l454989.60
E=597051.49	
Property in the Open	
10/01/2026		$435,973	
	St. Cloud FL 34771					
	I		I	I	
	Total:	Building Value	Contents Value
$520,433	I $Q	Insured Value
$520,433	

Sign:	R ,ci-!a£l> L$-.JEN	Date:

Sunbridge Stewardship District

First Amendment to Developer Deficit Funding Agreement

FIRST AMENDMENT TO FISCAL YEAR 2025 DEFICIT FUNDING AGREEMENT

This First Amendment (“First Amendment”) is made and entered into this 	 day of
	 2025, by and between:
Sunbridge Stewardship District, a local unit of special-purpose government established by the Florida Legislature and being situated in Osceola County, Florida, and whose mailing address is 3501 Quadrangle Boulevard, Suite 270, Orlando, Florida 32817 (“District”), and

Tavistock East Services, LLC., an owner and the primary developer of lands within the District, and whose address is 6900 Tavistock Lakes Blvd., Suite 200, Orlando, Florida 32827 (“Developer”, together with the District, “Parties”).
Recitals

WHEREAS, the Parties previously entered into that certain “Fiscal Year 2025 Deficit Funding Agreement” (“Funding Agreement”) whereby the Developer agreed to fund the difference, on an as-needed basis, between the amount of O&M Revenues and the amount of the actual O&M Budget up to a total of $149,000 (“O&M Deficit”); and
Whereas, pursuant to Section 4 of the Funding Agreement, the Parties desire to amend the Funding Agreement as set forth in more detail in Section 2 below; and
Whereas, any terms not otherwise defined herein shall have the meaning set forth in the Funding Agreement.
NOW, THEREFORE, based upon good and valuable consideration and the mutual covenants of the parties, the receipt of which and sufficiency of which is hereby acknowledged, the parties agree as follows:

Section 1. The Funding Agreement is hereby affirmed and the Parties hereto agree that it continues to constitute a valid and binding agreement between the Parties. Except as described in Section 2 of this First Amendment, nothing herein shall modify the rights and obligations of the Parties under the Funding Agreement.

Section 2. The Parties hereby agree that the Funding Agreement is amended to increase the funds to be provided by $40,000, for a total O&M Deficit amount up to $189,000.

Section 3. All other terms of the Funding Agreement shall remain in full force and effect and are hereby ratified.

IN WITNESS WHEREOF, the parties execute this First Amendment the day and year first written above.
Attest:	SUNBRIDGE STEWARDSHIP DISTRICT

Secretary / Assistant Secretary	By: 	 Its: 		
TAVISTOCK EAST SERVICES, LLC,
a Florida limited liability company

Witness	By: 	 Its: 	

Sunbridge Stewardship District

Developer Deficit Funding Agreement with Reimbursement

FISCAL YEAR 2026 DEFICIT FUNDING AGREEMENT

This Agreement (“Agreement”) is made and entered into this     day of 	 2025, by and between:
Sunbridge Stewardship District, a local unit of special-purpose government established by the Florida Legislature and being situated in Osceola County, Florida, and whose mailing address is 3501 Quadrangle Boulevard, Suite 270, Orlando, Florida 32817 (“District”), and

Tavistock East Services, LLC., an owner and the primary developer of lands within the District, and whose address is 6900 Tavistock Lakes Blvd., Suite 200, Orlando, Florida 32827 (“Developer”).
Recitals

Whereas, the District was established for the purpose of planning, financing, constructing, operating and/or maintaining certain infrastructure; and
Whereas, the District is authorized to levy such taxes, special assessments, fees, and other charges as may be necessary in furtherance of the District’s activities and services; and

WHEREAS, the Board of Supervisors (“Board”) of the District has adopted the District’s operations and maintenance budget (“O&M Budget”) for the fiscal year ending September 30, 2026 (“FY 2026”) and is levying special assessments (“O&M Assessments”) within the District (the “O&M Revenues”) to fund the O&M Budget; and
WHEREAS, if the O&M Revenues should be insufficient to fund the O&M Budget, which may be amended as provided for herein, the Developer has agreed to fund the difference, on an as-needed basis, between the amount of O&M Revenues and the amount of the actual O&M Budget up to a total of $100,000 (“O&M Deficit”).
NOW, THEREFORE, based upon good and valuable consideration and the mutual covenants of the parties, the receipt of which and sufficiency of which is hereby acknowledged, the parties agree as follows:

RECITALS. The recitals so stated are true and correct and by this reference are incorporated into and form a material part of this Agreement.
FUNDING OBLIGATION. The Developer agrees to make available to the District any monies necessary to fund any O&M Deficit for FY 2026, within thirty (30) days of written request by the District. The funds shall be placed in the District's general checking account and used to fund the actual administrative and operations expenses of the District’s O&M Budget. The Developer agrees to fund any O&M Deficit for actual expenses of the District; provided,

however, that the Developer shall not be responsible for any O&M Deficit resulting from amendments to the O&M Budget unless the Developer approves of such amendments. The Developer’s payment of funds pursuant to this Agreement in no way affects Developer’s obligation to pay O&M Assessments levied on lands it owns within the District. If the Developer funds all of any portion of the O&M Deficit and subsequently it is determined that the O&M Deficit was less than the amount funded by the Developer, the District will reimburse the Developer for such overpayment.

REIMBURSEMENT. The District shall reimburse the Developer for payments made towards the O&M Deficit. Reimbursement shall be paid, without interest, no later than September 30, 2026, and may be made earlier depending on cash flow associated with District revenues.
AMENDMENT. This instrument shall constitute the final and complete expression of the agreement between the parties relating to the subject matter of this Agreement. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by both of the parties hereto.
AUTHORITY. The execution of this Agreement has been duly authorized by the appropriate body or official of all parties hereto, each party has complied with all the requirements of law, and each party has full power and authority to comply with the terms and provisions of this instrument.

ASSIGNMENT. This Agreement may not be assigned, in whole or in part, by either party except upon the written consent of the other. Any purported assignment without such consent shall be void.
DEFAULT. A default by either party under this Agreement shall entitle the other to all remedies available at law or in equity, which shall include, but not be limited to, the right of damages, injunctive relief and specific performance.
ATTORNEY’S FEES. In the event that either party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the substantially prevailing party shall be entitled to recover from the other all costs incurred, including reasonable attorneys' fees, paralegal fees and expert witness fees, and costs for trial, alternative dispute resolution, or appellate proceedings.

BENEFICIARIES. This Agreement is solely for the benefit of the formal parties herein and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein

contained shall inure to the sole benefit of and shall be binding upon the parties hereto and their respective representatives, successors and assigns.
APPLICABLE LAW; VENUE. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida. Venue for any action under this Agreement shall be in a state circuit court of competent jurisdiction in and for Osceola County, Florida.

ARM’S LENGTH. This Agreement has been negotiated fully between the parties as an arm's length transaction. The parties participated fully in the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are each deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any party.

IN WITNESS WHEREOF, the parties execute this Agreement the day and year first written
above.

Attest:	SUNBRIDGE STEWARDSHIP DISTRICT

Secretary / Assistant Secretary	By: 	 Its: 	

TAVISTOCK EAST SERVICES, LLC,
a Florida limited liability company

Witness	By: 	 Its: 	

Sunbridge Stewardship District

Operation and Maintenance Expenditures Paid in August 2025 in an amount totaling $83,079.82

SUNBRIDGE STEWARDSHIP DISTRICT
DISTRICT OFFICE ● 3501 QUADRANGLE BLVD STE 270 ● ORLANDO, FL 32817 PHONE: (407) 723-5900 ● FAX: (407) 723-5901

Operation and Maintenance Expenditures For Board Approval

Attached please find the check register listing Operations and Maintenance expenditures paid from August 1, 2025 through August 31, 2025. This does not include expenditures previously approved by the Board.

The total items being presented:    $83,079.82

Approval of Expenditures:

	 Chairman

	 Vice Chairman

	 Assistant Secretary

Sunbridge Stewardship District
AP Check Register (Current by Bank)
Check Dates: 8/1/2025 to 8/31/2025

Check No.	Date	Status*	V ndor ID	Payee Na e	A ount	
BANK ID: OM6557 - VALLE* BANK	001-101-0000-00-01	
1 13	8/0(/25	P	C &	Cherry%ake aintenance &rou'		)(0*( +33	
1 1(	8/0(/25	P	P,-./0	Pierce ,ones* PhD		)(*(00+00	
1 15	8/0(/25	P	P-2B/.	Pou%os 1 Ben ett		)2* 88+ 5	
1 1 	8/0 /25	P	/&30	/gis 3nsurance 1 Risk A45isors		)1*3 (+00	
1 1 	8/0 /25	P	627A6	6utak Rock		)5*( (+50	
1 18	8/0 /25	P	20BA.6	2+0+ Bank		)(*25 +13	
1 1 	8/18/25	P	-R80/.	-r%an4o 0entine%		) 31+8 	
1 20	8/2 /25	P	P,-./0	Pierce ,ones* PhD		)2*200+00	
1 21	8/28/25	P	C &	Cherry%ake aintenance &rou'		)8*333+33	
					BANK OM6557 REGISTER TOTAL:	$69,927.90	
BANK ID: OM-ACH - VALLE* BANK - ACH 5 6IRES	001-101-0000-00-01	
 00(8	08/11	 	-2C	-r%an4o 2ti%ities Co99ission		)2*( +8 	
 00( 	08/11	 	7-:-	7-:- ;ater Authority		)23 +28	
 0050	8/2 /25	 	-.&	-sceo%a .e<s=&a>ette		) 2+ 	
 0051	8/2 /25	 	-.&	-sceo%a .e<s=&a>ette		)351+ 	
					BANK OM-ACH REGISTER TOTAL:	$3,151.92	
					GRAND TOTAL :	$73,079.82	

* Check Status Types: "P" - Printed ; "M" - Manual ; "V" - Void ( Void Date ); "A" - Application; "E" - EFT
** Denotes broken check sequence.

Sunbridge Stewardship District
August 2025 AP Remittance Report

BANK:	OM6557	CHECK:	1613	AMOUNT:	$40,479.33	DATE:	08/04/25	VEND ID:	CMG			
Date	Invoice Number		Invoice Description					Discount Taken		Amount Paid	
07/11/25	137031			PA 308 - Jul. Weslyn Park land				$0.00		$8,333.33	
07/11/25	137036			PA 308 - Jul. Cyrils Drive lan				$0.00		$32,146.00	
				TOTALS:
AMOUNT:					$0.00
PJONES		$40,479.33	
BANK:	OM6557	CHECK:	1614		$4,400.00	DATE:	08/04/25	VEND ID:				
Date	Invoice Number		Invoice Description					Discount Taken		Amount Paid	
06/30/25	62025			PA 308 - Jun. landscape analyt				$0.00		$2,200.00	
07/13/25	72025			PA 308 - Jul. landscape analyt				$0.00		$2,200.00	
				TOTALS:
AMOUNT:					$0.00
POUBEN		$4,400.00	
BANK:	OM6557	CHECK:	1615		$2,788.75	DATE:	08/04/25	VEND ID:				
Date	Invoice Number		Invoice Description					Discount Taken		Amount Paid	
07/14/25	18-203(71)		PA 308 - Eng. srvs. thru 06/27				$0.00		$2,788.75	
				TOTALS:
AMOUNT:					$0.00
EGIS		$2,788.75	
BANK:	OM6557	CHECK:	1616		$1,374.00	DATE:	08/06/25	VEND ID:				
Date	Invoice Number		Invoice Description					Discount Taken		Amount Paid	
07/25/25	28664			PA 309 - FY 2025 property ins				$0.00		$1,374.00	
				TOTALS:
AMOUNT:					$0.00
KUTAK		$1,374.00	
BANK:	OM6557	CHECK:	1617		$5,464.50	DATE:	08/06/25	VEND ID:				
Date	Invoice Number		Invoice Description					Discount Taken		Amount Paid	
07/28/25	3598217			PA 309 - Gen. legal thru 06/30				$0.00		$5,464.50	
				TOTALS:
AMOUNT:					$0.00
USBANK		$5,464.50	
BANK:	OM6557	CHECK:	1618		$4,256.13	DATE:	08/06/25	VEND ID:				
Date	Invoice Number		Invoice Description					Discount Taken		Amount Paid	
07/25/25	7834925			PA 309 - FY 2025 Del Webb trus				$0.00		$1,072.78	
07/25/25	7834925			PA 309 - FY 2026 Del Webb trus				$0.00		$3,183.35	
				TOTALS:
AMOUNT:					$0.00
OUC		$4,256.13	
BANK:	OM-ACH	CHECK:	70048		$2,499.89	DATE:	08/11/25	VEND ID:				
Date	Invoice Number		Invoice Description					Discount Taken		Amount Paid	
07/24/25
07/24/25	05831-072425
05831-072425		PA 309 - OUC 2025.07.24 - Stre PA 309 - OUC 2025.07.24 - Elec				$0.00
$0.00		$2,360.80
$139.09	

BANK:	
OM-ACH	CHECK:		TOTALS:
AMOUNT:  $237.28				

$0.00
TOHO		

$2,499.89	
		70049		DATE:	08/11/25	VEND ID:				
Date	Invoice Number		Invoice Description					Discount Taken		Amount Paid	
07/23/25	5383378			PA 309 - 6200 Cyrils Dr irriga				$0.00		$237.28	
				TOTALS:					$0.00		$237.28	
BANK:	OM6557	CHECK:	1619	AMOUNT:	$631.86	DATE:	08/18/25	VEND ID:	ORLSEN			
Date	Invoice Number		Invoice Description					Discount Taken		Amount Paid	
07/27/25	OSC121069808		PA 310 - Ad: 7834822 ; 08/07/2				$0.00		$631.86	
				TOTALS:					$0.00		$631.86	
BANK:	OM-ACH	CHECK:	70050	AMOUNT:	$62.79	DATE:	08/26/25	VEND ID:	ONG			
Date	Invoice Number		Invoice Description					Discount Taken		Amount Paid	
08/12/25	DF0F4196-0038		PA 311 - Legal ad on 08/28/202				$0.00		$62.79	
				TOTALS:					$0.00		$62.79	
BANK:	OM-ACH	CHECK:	70051	AMOUNT:	$351.96	DATE:	08/26/25	VEND ID:	ONG			
Date	Invoice Number		Invoice Description				Discount Taken		Amount Paid	
08/13/25	DF0F4196-0039		PA 311 - Legal ad on 09/04/202				$0.00		$351.96	
			TOTALS:				$0.00		$351.96	

Sunbridge Stewardship District
August 2025 AP Remittance Report

BANK:	OM6557	CHECK:	1620	AMOUNT:	$2,200.00	DATE:	08/26/25	VEND ID:	PJONES			
Date	Invoice Number		Invoice Description					Discount Taken		Amount Paid	
08/04/25	82025			PA 311 - Aug. landscape analyt				$0.00		$2,200.00	
				TOTALS:
AMOUNT:					$0.00
CMG		$2,200.00	
BANK:	OM6557	CHECK:	1621		$8,333.33	DATE:	08/28/25	VEND ID:				
Date	Invoice Number		Invoice Description				Discount Taken		Amount Paid	
08/07/25	138095		PA 310 - Aug. Weslyn Park land				$0.00		$8,333.33	
			TOTALS:				$0.00		$8,333.33	

Sunbridge Stewardship District

Dell Webb Requisition No. 11 Paid in August 2025 in an amount totaling $3,546,266.49

SUNBRIDGE STEWARDSHIP DISTRICT
DISTRICT OFFICE ● 3501 QUADRANGLE BLVD STE 270 ● ORLANDO, FL 32817 PHONE: (407) 723-5900 ● FAX: (407) 723-5901

Requisition Recap For Board Approval

Attached please find the listing of requisitions approved to be paid from bond funds from August 1, 2025 through August 31, 2025. This does not include requisitions previously approved by the Board.

DEL WEBB REQUISITION NO.		
PAYEE	
AMOUNT	
Req 11	PulteGroup		$3,546,266.49	
	TOTAL		$3,546,266.49	

WESLYN PARK			
REQUISITION NO.	PAYEE	AMOUNT	

None		
$0.00	

REQUISITION
The undersigned, an Authorized Officer of Sunbridge Stewardship District (the ʺDistrictʺ) hereby submits the following requisition for disbursement under and pursuant to the terms of the Master Trust Indenture between the District and U.S. Bank Trust Company, National Association, Orlando, Florida, as trustee (the ʺTrusteeʺ), dated as of June 1, 2022 (the ʺMaster Indentureʺ), as amended and supplemented by the First Supplemental Trust Indenture from the District to the Trustee, dated as of June 1, 2022 (the Master Indenture as amended and supplemented is hereinafter referred to as the ʺIndentureʺ) (all capitalized terms used herein shall have the meaning ascribed to such term in the Indenture):
Requisition Number: 014
Name of Payee: PulteGroup
Amount Payable: $3,546,266.49
Purpose for which paid or incurred (refer also to specific contract if amount is due and payable pursuant to a contract involving progress payments, or state Costs of Issuance, if applicable):
Reimbursement for Sunbridge Phase 2, Capped – $3,187,457.00
Earned Interest Remaining in Account – $358,809.49
Fund, Account or subaccount from which disbursement is to be made: Acquisition and Construction Fund

The undersigned hereby certifies that [obligations in the stated amount set forth above have been incurred by the District, that each disbursement set forth above is a proper charge against the Series 2022 Acquisition and Construction Account and the subaccount, if any, referenced above, that each disbursement set forth above was incurred in connection with the acquisition and construction of the Series 2022 Project and each represents a Cost of the Series 2022 Project, and has not previously been paid] OR [this requisition is for Costs of Issuance payable from the Costs of Issuance Account that has not previously been paid].
The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the moneys payable to the Payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.
The undersigned hereby further certifies that such requisition contains no item representing payment on account of any retained percentage which the District is at the date of such certificate entitled to retain.

Originals or copies of the invoice(s) from the vendor of the property acquired or services rendered with respect to which disbursement is hereby requested are on file with the District.

SUNBRIDGE STEWARDSHIP DISTRICT

By:

Authorized Officer

CONSULTING ENGINEERʹS APPROVAL FOR NON‐COST OF ISSUANCE REQUESTS ONLY
If this requisition is for a disbursement from other than the Costs of Issuance Account, the undersigned Consulting Engineer hereby certifies that this disbursement is for a Cost of the Series 2022 Project and is consistent with: (i) the applicable acquisition or construction contract; (ii) the plans and specifications for the portion of the Series 2022 Project with respect to which such disbursement is being made; and (iii) the report of the Consulting Engineer attached as an Exhibit to the First Supplemental Indenture, as such report shall have been amended or modified on the date hereof.

By:

Consulting Engineer

Sunbridge Stewardship District

District Financial Position and Budget to Actual YTD

Sunbridge Stewardship District
August 2025 Financial Package

August 31, 2025

PFM Group Consulting LLC
3501 Quadrangle Boulevard
Suite 270
Orlando, FL 32817-8329
(407) 723-5900

Sunbridge Stewardship District Statement of Financial Position As of 8/31/2025	

General Fund		
Debt Service Fund		
Capital Projects Fund		
Long-Term Debt Fund			

Total	
			
Assets								
Current Assets											
General Checking Account	$	66,224.52								$	66,224.52	
Sustainability Reserve	71,299.06									71,299.06	
Infrastructure Capital Reserve	21,660.42									21,660.42	
Prepaid Expenses	3,183.35									3,183.35	
Deposits	240.00									240.00	
S2022 (DW) - Debt Service Reserve			$	478,462.50							478,462.50	
S2022 (WP) - Debt Service Reserve			795,976.25							795,976.25	
S2022 (DW) - Revenue			483,445.71							483,445.71	
S2022 (WP) - Revenue			840,020.60							840,020.60	
S2022 (DW) - Prepayment			11,992.01							11,992.01	
S2022 (WP) - Acquisition/Construction					$	31,207.01					31,207.01	
Total Current Assets	$	162,607.35		$ 2,609,897.07		$	31,207.01		$	-		$	2,803,711.43	

Investments
Amount Available in Debt Service Funds Amount To Be Provided
Total Investments									

$	2,609,897.07		

$	

2,609,897.07	
									33,735,102.93			33,735,102.93	
	$	-		$	-		$	-		$ 36,345,000.00		$	36,345,000.00	
Total Assets	$	162,607.35		$ 2,609,897.07		$	31,207.01		$ 36,345,000.00		$	39,148,711.43	

	Sunbridge Stewardship District	
	Statement of Financial Position	
	As of 8/31/2025	

General Fund	
Debt Service Fund	
Capital Projects Fund	
	Liabilities and Net Assets	
Current Liabilities		
Accounts Payable	$	42,058.35	
Due to Developer	149,000.00	
Total Current Liabilities	$	191,058.35	$	-	$	-	

Long Term Liabilities		
Revenue Bonds Payable - Long-Term		
Total Long Term Liabilities	$	-	$	-	$	-	
Total Liabilities	$	191,058.35	$	-	$	-	

Net Assets		
Net Assets, Unrestricted	$  (227,908.70)	
Current Year Net Assets, Unrestricted	(24,200.00)	
Net Assets - General Government	301,926.76	
Current Year Net Assets - General Government	(78,269.06)	
Net Assets, Unrestricted	$ 2,541,034.22	
Current Year Net Assets, Unrestricted	68,862.85	
Net Assets, Unrestricted	$  3,450,749.64	
Current Year Net Assets, Unrestricted	(3,419,542.63)	
Total Net Assets	$	(28,451.00)	$ 2,609,897.07	$	31,207.01	
		
Total Liabilities and Net Assets	$	162,607.35	$ 2,609,897.07	$	31,207.01	

$

$	(227,908.70)
(24,200.00)
301,926.76
(78,269.06)
2,541,034.22
68,862.85
3,450,749.64
(3,419,542.63)

2,612,653.08	
		
$	39,148,711.43	

	$	42,058.35	
	149,000.00	
$	-		$	191,058.35	

$ 36,345,000.00		

$ 36,345,000.00	
$ 36,345,000.00		$ 36,345,000.00	
$ 36,345,000.00		$ 36,536,058.35	

Long-Term Debt Fund

$	-

$ 36,345,000.00

Total

			

Sunbridge Stewardship District
Statement of Activities As of 8/31/2025	
	
General Fund	Debt Service Fund	Capital Projects Fund	Long-Term Debt Fund		
Total	
Revenues
On-Roll Assessments
Other Income & Other Financing Sources Landscaping Contribution
Sustainability Revenue On-Roll Assessments Other Assessments
Total Revenues	

$  402,961.10
18,382.77
91,666.63
24,200.00
$	2,542,832.19
11,956.53

$  537,210.50	$	2,554,788.72	

$	-	

$	-	

$

$	

402,961.10
18,382.77
91,666.63
24,200.00
2,542,832.19
11,956.53
3,091,999.22	
Expenses
D&O Insurance Trustee Services Management Engineering Disclosure Property Appraiser District Counsel
Assessment Administration Audit
Arbitrage Calculation Travel and Per Diem Postage & Shipping Legal Advertising
Web Site Maintenance Dues, Licenses, and Fees Electric
General Insurance Property & Casualty Irrigation
Irrigation Parts
Landscaping Maintenance & Material Landscape Improvements
Tree Trimming
Pest Control	

$	2,998.00
8,162.44
45,833.37
7,478.95
7,500.00
496.42
25,940.90
15,000.00
8,000.00
350.00
110.93
63.51
1,798.14
2,110.00
175.00
1,506.64
6,997.00
2,404.00
8,980.24
794.35
429,059.96
6,797.22
10,925.00
1,500.00			

$	

2,998.00
8,162.44
45,833.37
7,478.95
7,500.00
496.42
25,940.90
15,000.00
8,000.00
350.00
110.93
63.51
1,798.14
2,110.00
175.00
1,506.64
6,997.00
2,404.00
8,980.24
794.35
429,059.96
6,797.22
10,925.00
1,500.00	

Sunbridge Stewardship District
Statement of Activities As of 8/31/2025

Debt Service	Capital Projects	Long-Term Debt		
Fund	Fund	Fund		

General Fund	Total

Sustainability Agreement	$	24,200.00							$	24,200.00	
Streetlights	25,947.20							25,947.20	
Personnel Leasing Agreement	6,875.00							6,875.00	
Principal Payments - Del Webb			$	230,000.00					230,000.00	
Principal Payments - Weslyn Park			395,000.00					395,000.00	
Interest Payments - Del Webb			734,327.50					734,327.50	
Interest Payments - Weslyn Park			1,202,072.50					1,202,072.50	
Other Debt Service Costs			37,369.88					37,369.88	
Contingency					$  3,546,266.49			3,546,266.49	
Total Expenses	$  652,004.27		$	2,598,769.88		$  3,546,266.49		$	-	$  6,797,040.64	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	12,324.71							$	12,324.71	
Dividend Income			$	112,844.01					112,844.01	
Dividend Income					$	126,723.86			126,723.86	
Total Other Revenues (Expenses) & Gains (Losses)	$	12,324.71		$	112,844.01		$	126,723.86		$	-	$	251,892.58	
Change In Net Assets	$ (102,469.06)		$	68,862.85		$ (3,419,542.63)		$	-	$ (3,453,148.84)	
Net Assets At Beginning Of Year	$	74,018.06		$	2,541,034.22		$  3,450,749.64		$	-	$  6,065,801.92	

Net Assets At End Of Year	
$	(28,451.00)		
$	2,609,897.07		
$	31,207.01		
$	

-	$  2,612,653.08	

Sunbridge Stewardship District
Budget to Actual
For the Month Ending 8/31/2025

YTD Actual	YTD Budget	YTD Variance

FY 2025	Percentage Adopted Budget		Used

Revenues														
On-Roll Assessments	$	402,961.10		$	368,591.16		$	34,369.94		$	402,099.45		100.21%	
Other Income & Other Financing Sources		18,382.77			-			18,382.77			-			
Landscaping Contribution Agreement - TE3		45,833.26			45,833.26			-			49,999.92		91.67%	
Landscaping Contribution Agreement - TOHO		45,833.37			45,833.37			-			50,000.04		91.67%	
Sustainability Contributions		24,200.00			45,833.33			(21,633.33)			50,000.00		48.40%	
Carry Forward Revenue		18,333.33			18,333.33			-			20,000.00		91.67%	
Net Revenues	$	555,543.83		$	524,424.45		$	31,119.38		$	572,099.41		97.11%	
General & Administrative Expenses														
D&O Insurance	$	2,998.00		$	2,953.78		$	44.22		$	3,222.30		93.04%	
Trustee Services		8,162.44			7,802.91			359.53			8,512.26		95.89%	
Management		45,833.37			45,833.33			0.04			50,000.00		91.67%	
Engineering		7,478.95			7,333.33			145.62			8,000.00		93.49%	
Disclosure		7,500.00			4,583.33			2,916.67			5,000.00		150.00%	
Property Appraiser		496.42			504.17			(7.75)			550.00		90.26%	
District Counsel		25,940.90			36,666.67			(10,725.77)			40,000.00		64.85%	
Assessment Administration		15,000.00			13,750.00			1,250.00			15,000.00		100.00%	
Reamortization Schedules		-			114.58			(114.58)			125.00		0.00%	
Audit		8,000.00			7,516.67			483.33			8,200.00		97.56%	
Arbitrage Calculation		350.00			641.67			(291.67)			700.00		50.00%	
Travel and Per Diem		110.93			458.33			(347.40)			500.00		22.19%	
Telephone		-			22.92			(22.92)			25.00		0.00%	
Postage & Shipping		63.51			137.50			(73.99)			150.00		42.34%	
Copies		-			137.50			(137.50)			150.00		0.00%	
Legal Advertising		1,798.14			3,254.17			(1,456.03)			3,550.00		50.65%	
Miscellaneous		-			45.83			(45.83)			50.00		0.00%	
Web Site Maintenance		2,110.00			2,310.00			(200.00)			2,520.00		83.73%	
Dues, Licenses, and Fees		175.00			160.42			14.58			175.00		100.00%	
Electric		1,506.64			916.67			589.97			1,000.00		150.66%	
Infrastructure Capital Reserve		-			9,166.67			(9,166.67)			10,000.00		0.00%	
General Insurance		6,997.00			6,893.20			103.80			7,519.85		93.05%	
Property & Casualty Insurance		2,404.00			1,054.17			1,349.83			1,150.00		209.04%	
Irrigation		8,980.24			32,083.33			(23,103.09)			35,000.00		25.66%	
Irrigation Parts		794.35			6,416.67			(5,622.32)			7,000.00		11.35%	
Landscaping Maintenance & Material		429,059.96			234,850.00			194,209.96			256,200.00		167.47%	
Landscape Improvements		6,797.22			9,166.67			(2,369.45)			10,000.00		67.97%	
Tree Trimming		10,925.00			4,583.29			6,341.71			5,000.00		218.50%	
Contingency		-			8,525.00			(8,525.00)			9,300.00		0.00%	
Pest Control		1,500.00			916.67			583.33			1,000.00		150.00%	
Signage & Amenities Repair		-			916.67			(916.67)			1,000.00		0.00%	

Sunbridge Stewardship District
Budget to Actual
For the Month Ending 8/31/2025	
	
YTD Actual	
YTD Budget	

UF Research Agreement	
$	
24,200.00	
$	
45,833.33	
Streetlights		25,947.20		26,583.33	
Personnel Leasing Agreement		6,875.00		6,875.00	
Total General & Administrative Expenses	$	652,004.27	$	529,007.78	
Total Expenses

Income (Loss) from Operations

Other Income (Expense)
Interest Income
Total Other Income (Expense)

Net Income (Loss)	 $	

$

$
$

$	652,004.27 	 $		529,007.78 	
		(96,460.44)	$	(4,583.33)	
		
12,324.71	
$	
4,583.33	
		12,324.71	$	4,583.33	
		(84,135.73)	$	-	

YTD Variance

FY 2025	Percentage Adopted Budget		Used

$	122,996.49		$	577,099.41		112.98%	
 $		122,996.49 		 $	577,099.41 		  112.98%		
$	(91,877.11)		$	(5,000.00)			

$	
7,741.38		
$	5,000.00		
246.49%	
$	7,741.38		$	5,000.00		246.49%	
$	(84,135.73)		$	-			

$	(21,633.33)	$	50,000.00	48.40%	
(636.13)	29,000.00	89.47%	
-	7,500.00	91.67%	

Sunbridge Stewardship District Cash Flow

Beg. Cash

10/1/2024	22,597.79
11/1/2024	60,171.76
12/1/2024	71,224.69
1/1/2025	313,337.36
2/1/2025	216,701.86
3/1/2025	213,694.55
4/1/2025	108,463.07
5/1/2025	231,040.89
6/1/2025	209,944.74
7/1/2025	133,697.24
8/1/2025	134,337.57
9/1/2025	66,224.52

FY25 Inflows	FY25 Outflows	
84,504.37	(28,844.32)	
229,106.74	(218,053.81)	
2,614,042.61	(2,371,929.94)	
59,680.09	(156,315.59)	
35,833.43	(38,840.74)	
22,986.52	(128,218.00)	
198,450.89	(75,873.07)	
4,380.82	(25,476.97)	
24,969.67	(101,217.17)	
23,197.13	(22,556.80)	
14,966.77	(81,705.82)	
-	(2,852.43)	

3,312,119.04	(3,266,168.54)	-	(1,374.00)

End. Cash

60,171.76
71,224.69
313,337.36
216,701.86
213,694.55
108,463.07
231,040.89
209,944.74
133,697.24
134,337.57
66,224.52
63,372.09 as of 09/26/2025

-
-
-
-
-
-
-
-
-
-
-
-

FY26 Inflows

FY26 Outflows

-
-
-
-
-
-
-
-
-
- (1,374.00)
-

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