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, November 6, 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 October 2, 2025, Board of Supervisors’ Meeting

Business Matters
Consideration of Resolution 2026-02, Adopting an Amended FY 2024-2025 Budget
Consideration of Items for Sight of Line Issues
Ratification of Operation and Maintenance Expenditures Paid in September 2025 in an amount totaling $2,852.43
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 October 2, 2025, Board of Supervisors’ Meeting

SUNBRIDGE STEWARDSHIP DISTRICT BOARD OF SUPERVISORS’ MEETING
Thursday, October 2, 2025, at 11:00 a.m.
6900 Tavistock Lakes Blvd., Ste. 200, Orlando, FL 32827

Board Members Present:			
Rob Adams	Vice Chair		
Frank Paris Katia Moraes Ron Domingue	Assistant Secretary Assistant Secretary Assistant Secretary		
Also Present:			
Lynne Mullins Amanda Lane Jennifer Walden Blake Firth
JD Humphreys Carlos Negron Clint Beaty Rudy Bautista
Cristyann Courtney Jonathan Johnson Karen Jusevitch
Nicolle van Valkenburg	PFM PFM PFM PFM SLR
Berman Tavistock Tavistock Tavistock Kutak Rock Kutak Rock
P&B	
(via phone) (via phone) (via phone)

(via phone) (via phone)

(via phone) (via phone)
(via phone)	

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

Ms. Mullins opened the floor for public comments. There were no public comments.

THIRD ORDER OF BUSINESS	Consideration of the Minutes of September 4, 2025, Board of Supervisors’ Meeting

The Board reviewed the minutes.

On MOTION by Mr. Adams, seconded by Mr. Paris, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District approved the Minutes of the September 4, 2025, Board of Supervisors’ Meeting.

Page | 1

FOURTH ORDER OF BUSINESS	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 2026-01, Adopting the Uniform Method

Ms. Mullins noted that this public hearing had been noticed in accordance with Florida statutes.

On MOTION by Mr. Adams, seconded by Mr. Paris, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District opened the public hearing on the Use of Uniform Method of Levying, Collection and Enforcing Non-Ad Valorem Assessments.

Ms. Mullins gave an overview of the Uniform Method Resolution and clarified that this was required for the newly acquired Orange County portion of the Sunbridge Stewardship District. She asked Mr. Johnson if he had any additional comments for the record.

Mr. Johnson stated that this was just a post-expansion clean-up item, and he recommends approval.

On MOTION by Mr. Adams, seconded by Ms. Moraes, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District closed the public hearing on the Use of Uniform Method of Levying, Collection and Enforcing Non-Ad Valorem Assessments.

On MOTION by Mr. Adams, seconded by Mr. Paris, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District approved Resolution 2026-01, Adopting the Unform Method.

FIFTH ORDER OF BUSINESS	BUSINESS MATTERS
Consideration	of	Weslyn	Park	Tree Replacement

Mr. Adams stated that District will not be able to take care of this matter at this time, but he will follow up with the HOA and see what can be done to remedy this issue on their end.

Ms. Mullins concluded by stating that she will follow up with the resident and explain that the District does not have the funds to take care of this matter, and to follow up with Mr. Adams.

SIXTH ORDER OF BUSINESS	Ratification of FY 2026 Egis Insurance Package

Ms. Mullins stated that the Fiscal Year 2026 Egis Insurance Package came in at $17,548.00 and this does exceed our budgeted insurance amount by $4,691.00 due to the addition of the Boardwalk at Rocks Trail.
Page | 2

No action is required for going over budget, but she clarified that this insurance package is a required item so the District can hopefully come under budget in other items next year.

Ms. Mullins called for a motion to ratify.

On MOTION by Mr. Adams, seconded by Mr. Paris, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District ratified the FY 2026 Egis Insurance Package.

SEVENTH ORDER OF BUSINESS	Consideration of	the	First	Amendment to	
Developer Deficit Funding Agreement	
Ms. Mullins asked Mr. Johnson to clarify this item.	

Mr. Johnson clarified that this is an amendment to allocate additional funds for the District for the fiscal year that just concluded. These funds will be paid in accordance with the existing terms in the original agreement. The funds total approximately $40,000.00. District Counsel recommends approval for this item.

On MOTION by Mr. Adams, seconded by Ms. Moraes, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District approved the First Amendment to Developer Deficit Funding Agreement.

EIGHTH ORDER OF BUSINESS	Consideration of Developer Deficit Funding Agreement with Reimbursement

Ms. Mullins stated that October 1, 2025, marks the beginning of a new fiscal year, and since the District has utilized all its funds the District does not have the funds to pay bills for the next three months as the County collects the District’s assessments from the residents. Annually, the District will go to the Developer and ask for these funds and reimburse them with the money that is collected via assessments once it is received. This item reflects that annual agreement to cover the cash-flow problem. She asked Mr. Johnson if he has any additional comments.
Mr. Johnson had no additional comments and just recommended approval of this item.

On MOTION by Mr. Paris, seconded by Mr. Adams, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District approved the Developer Deficit Funding Agreement with Reimbursement.

NINTH ORDER OF BUSINESS	Ratification of Operation and Maintenance Expenditures Paid in August 2025 in an amount totaling $83,079.82

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

On MOTION by Mr. Paris, seconded by Mr. Adams, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District ratified the Operation and Maintenance Expenditures Paid in August 2025 in an amount totaling $83,079.82.

Page | 3

TENTH ORDER OF BUSINESS	Ratification of Requisition No. 11 Paid in August	2025	in	an	amount	totaling
$3,546,266.49

Ms. Mullins noted this was previously approved and paid. This is solely for ratification.

On MOTION by Ms. Moraes, seconded by Mr. Adams, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District ratified Requisition No. 11 Paid in August 2025 in an amount totaling
$3,546,266.49.

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

Ms. Mullins noted that the District’s fiscal year ended on September 30, 2025, and the District has sixty days to acquire any invoices before we turn over to the new year.

No action was required by the Board.

TWELFTH ORDER OF BUSINESS	OTHER BUSINESS
Staff Reports

District Counsel –	No report.

District Manager –	Ms. Mullins noted the next meeting is November 6, 2025
District Engineer –	No report.

THIRTEENTH ORDER OF BUSINESS	Supervisor Requests & Audience Comments

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

FOURTEENTH ORDER OF BUSINESS	Adjournment

Dr. Levey called for a motion to adjourn.

On MOTION by Ms. Moraes, seconded by Mr. Paris, with all in favor, the October 2, 2025, Meeting of the Board of Supervisors for the Sunbridge Stewardship District was adjourned.

Secretary / Assistant Secretary	Chair / Vice Chair

Page | 4

Sunbridge Stewardship District

Resolution 2026-02,
Adopting an Amended FY 2024-2025 Budget

RESOLUTION 2026-02

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE SUNBRIDGE STEWARDSHIP DISTRICT ADOPTING AN AMENDED GENERAL FUND BUDGET FOR FISCAL YEAR 2024/2025, PROVIDING FOR APPROPRIATIONS; ADDRESSING CONFLICTS AND SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE.

WHEREAS, on August 1, 2024, the Board of Supervisors (“Board”) of the Sunbridge Stewardship District (“District”), adopted Resolution 2024-08 providing for the adoption of the District’s fiscal year 2024/2025 annual budget (“Budget”); and

WHEREAS, the District Manager, at the direction of the Board, has prepared an amended Budget, to reflect changes in the actual appropriations of the Budget; and
WHEREAS, Chapter 189, Florida Statutes, and Section 3 of Resolution 2024-08 authorize the Board to amend the Budget; and

WHEREAS, the Board finds that it is in the best interest of the District and its landowners to amend the Budget to reflect the actual appropriations.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE SUNBRIDGE STEWARDSHIP DISTRICT:

BUDGET AMENDMENT.

The Board has reviewed the District Manager’s proposed amended Budget, copies of which are on file with the office of the District Manager and at the District’s Records Office, and hereby approves certain amendments thereto, as shown in Section 2 below.

The amended Budget attached hereto as Exhibit “A” and incorporated herein by reference as further amended by the Board is hereby adopted in accordance with the provisions of section 189.016(6), Florida Statutes; provided, however, that the comparative figures contained in the amended Budget as adopted by the Board (together, “Adopted Annual Budget”) may be further revised as deemed necessary by the District Manager to further reflect actual revenues and expenditures for fiscal year 2024/2025.

The Adopted Annual Budget shall be maintained in the office of the District Manager and the District Records Office and identified as “The Adopted Budget for the Sunbridge Stewardship District for the fiscal year ending September 30,

2025, as amended and adopted by the Board of Supervisors effective November 6, 2025.”
APPROPRIATIONS. There is hereby appropriated out of the revenues of the District, the fiscal year beginning October 1, 2024, and ending September 30, 2025, the sums set forth below, raised by the levy of special assessments and otherwise, which sums are deemed by the Board of Supervisors to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated in the following fashion:

TOTAL GENERAL FUND	SEE EXHIBIT DEBT SERVICE FUND – SERIES 2022 (DEL WEBB)  SEE EXHIBIT DEBT SERVICE FUND – SERIES 2022 (WESLYN PARK) SEE EXHIBIT TOTAL ALL FUNDS	SEE EXHIBIT
CONFLICTS. This Resolution is intended to amend, in part, Resolution 2024-08, which remains in full force and effect except as otherwise provided herein. All terms of Resolution 2024-08 that are not amended by this Resolution apply to the Adopted Annual Budget as if those terms were fully set forth herein. All District resolutions or parts thereof in actual conflict with this Resolution are, to the extent of such conflict, superseded and repealed.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

EFFECTIVE DATE. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board.

Introduced, considered favorably, and adopted this 6th day of November, 2025.

ATTEST:	SUNBRIDGE STEWARDSHIP
DISTRICT

Secretary/Assistant Secretary	Chairman/Vice Chairman

Exhibit A:	Amended Fiscal Year 2024/2025 Budget

Exhibit A
Amended Fiscal Year 2024/2025 Budget [See attached]

Sunbridge Stewardship District
FY 2025 Proposed Revised O&M Budget

	Actual		FY 2025		FY 2025	
	Through		Adopted		Proposed	
	9/2025		Budget		Revised Budget	

Revenues						
On-Roll Assessments	$ 402,961.10		$ 402,099.45		$	402,099.45	
Developer Loan	-		-		189,000.00	
Landscaping Contribution Agreement - TE3	49,999.92		49,999.92		49,999.92	
Landscaping Contribution Agreement - TOHO	50,000.04		50,000.04		50,000.04	
Sustainability Revenue	26,400.00		50,000.00		26,400.00	
Other Income & Other Financing Sources	18,382.77		-		18,382.77	
Carry Forward Revenue	20,000.00		20,000.00		20,000.00	
Net Revenues	$ 567,743.83		$ 572,099.41		$	755,882.18	
General & Administrative Expenses						
D&O Insurance	$	2,998.00		$	3,222.30		$	3,222.30	
Trustee Services	8,512.26		8,512.26		8,512.26	
Management	50,000.00		50,000.00		50,000.00	
Engineering	7,478.95		8,000.00		8,000.00	
Disclosure	10,000.00		5,000.00		10,000.00	
Property Appraiser	496.42		550.00		550.00	
District Counsel	33,247.30		40,000.00		40,000.00	
Assessment Administration	15,000.00		15,000.00		15,000.00	
Reamortization Schedules	-		125.00		125.00	
Audit	8,000.00		8,200.00		8,200.00	
Arbitrage Calculation	350.00		700.00		700.00	
Travel and Per Diem	167.26		500.00		500.00	
Telephone	-		25.00		25.00	
Postage & Shipping	63.51		150.00		150.00	
Copies	-		150.00		150.00	
Legal Advertising	2,021.39		3,550.00		3,550.00	
Miscellaneous	-		50.00		50.00	
Web Site Maintenance	2,220.00		2,520.00		2,520.00	
Dues, Licenses, and Fees	175.00		175.00		175.00	
Electric	1,631.37		1,000.00		1,631.37	
Water Reclaimed	334.65		-		334.65	
Infrastructure Capital Reserve	10,000.00		10,000.00		10,000.00	
General Insurance	6,997.00		7,519.85		7,519.85	
Property & Casualty Insurance	2,404.00		1,150.00		2,404.00	
Irrigation	9,007.81		35,000.00		25,498.89	
Irrigation Parts	794.35		7,000.00		794.35	
Landscaping Maintenance & Material	469,539.29		256,200.00		469,539.29	
Landscape Improvements	6,797.22		10,000.00		6,797.22	
Tree Trimming	10,925.00		5,000.00		10,925.00	

Sunbridge Stewardship District
FY 2025 Proposed Revised O&M Budget

	Actual			FY 2025			FY 2025	
	Through	Adopted	Proposed	
	9/2025			Budget	Revised Budget	
Contingency	-			9,300.00			9,300.00	
Pest Control	1,500.00			1,000.00			1,500.00	
Signage & Amenities Repair	-			1,000.00			1,000.00	
UF Research Agreement	26,400.00			50,000.00			26,400.00	
Streetlights	28,308.00			29,000.00			28,308.00	
Personnel Leasing Agreement	7,500.00			7,500.00			7,500.00	
Total General & Administrative Expenses	$ 722,868.78	$ 577,099.41	$	760,882.18	
Total Expenses	 $ 722,868.78 	 $ 577,099.41 	 $	760,882.18 	
Income (Loss) from Operations	$ (155,124.95)		$	(5,000.00)		$	(5,000.00)	
Other Income (Expense)								
Interest Income	$	12,843.65	$	5,000.00	$	5,000.00	
Total Other Income (Expense)	$	12,843.65	
$	5,000.00	
$	5,000.00	
Net Income (Loss)	$ (142,281.30)		$	-		$	-	

Sunbridge Stewardship District
FY 2025 Debt Service Adopted Budget Series 2022 Special Assessment Bonds

		Del Webb	Weslyn Park	
REVENUES:				
Series 2022 - Special Assessments	$	1,321,710.00	$	2,189,813.75	
TOTAL REVENUES	$	1,321,710.00	$	2,189,813.75	

EXPENDITURES:				
Series 2022 - Interest 11/01/2024	$	372,220.00	$	601,036.25	
Series 2022 - Principal 05/01/2025		220,000.00	395,000.00	
Series 2022 - Interest 05/01/2025		367,220.00	601,036.25	
TOTAL EXPENDITURES	$	959,440.00	$	1,597,072.50	

EXCESS REVENUES	

$	

362,270.00	

$	592,741.25	

Series 2022 - Interest 11/01/2025	

$	

362,270.00	

$	592,741.25	

Page 1 of 1

Sunbridge Stewardship District

Items for Sight of Line Issues

Landscape Enhancement
Proposal for cyril`s Drive
Primary Account Contact: dbatten@bermancorp.com Date of original Quote: 11/4/2025
Job Name: sunbridge and del webb line of sight Proposal ID: 4e83d69b
Picture (if any):

Description:
this is for removing all plant material out of the view leaving del webb driveway with 15 man hours to rip out and level the ground so cars can see thr right of way when pulling in and leaving.

Materials:		$0.00	
Labor:		$922.65	
Other:		$0.00	
Total:		$922.65	

https://www.e-billexpress.com/ebpp/Cherrylake/SHO? Customer+ID=4e83d69b&Customer+Name=cyril%60s%20Drive&Email=dbatten%40bermancorp.com&Amount+Due=922.65&Invoice+Number=4e83d69b&ClientID=f8fb2f2e-5fa7-4748-a594-69cc4d0253c5

Thank you. Best regards,
Cody Brown

Landscape Enhancement
Proposal for cyril`s Drive
Primary Account Contact: dbatten@bermancorp.com Date of original Quote: 11/4/2025
Job Name: weslyn park line on site in the center island on cyril`sdr Proposal ID: ef42d84b
Picture (if any):

Description:
This proposal is for removing the firecracker plant and replacing it with sunshine mimosa 100qt and 15 bales of pinestraw and 12 man hours to complete.

Materials:	sunshine mimosa qts	$550.00	
Labor:		$738.12	
Other:	pinestraw bales	$120.00	
Total:		$1,408.12	

https://www.e-billexpress.com/ebpp/Cherrylake/SHO? Customer+ID=ef42d84b&Customer+Name=cyril%60s%20Drive&Email=dbatten%40bermancorp.com&Amount+Due=1408.12&Invoice+Number=ef42d84b&ClientID=f8fb2f2e-5fa7-4748-a594-69cc4d0253c5

Thank you. Best regards,
Cody Brown

	
Sunbridge Stewardship District

Operation and Maintenance Expenditures Paid in September 2025 in an amount totaling $2,852.43

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 September 1, 2025 through September 30, 2025. This does not include expenditures previously approved by the Board.

The total items being presented:    $2,852.43

Approval of Expenditures:

	 Chairman

	 Vice Chairman

	 Assistant Secretary

Sunbridge Stewardship District
AP Check Register (Current by Bank)
Check Dates: 9/1/2025 to 9/30/2025

BANK ID: OM6557 - VALLEY BANK	001-101-0000-00-01

Check No.	Date	Status*

1622	09/19/25	P

Vendor ID

ORLSEN

Payee Name

Orlando Sentinel

BANK OM6557 REGISTER TOTAL:

Amount

$223.25
$223.25

BANK ID: OM-ACH - VALLEY BANK - ACH & WIRES	001-101-0000-00-01

70052	09/08/25	M	TOHO	TOHO Water Authority		$27.57	
70053	09/11/25	M	OUC	Orlando Utilities Commission		$2,491.72	
70054	09/10/25	M	TOHO	TOHO Water Authority		$109.89	
					BANK OM-ACH REGISTER TOTAL:	$2,629.18	
					GRAND TOTAL :	$2,852.43	

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

Sunbridge Stewardship District
September 2025 AP Remittance Report

BANK:	OM-ACH	CHECK:	70052	AMOUNT:	$27.57	DATE:	09/08/25	VEND ID:	TOHO			
Date	Invoice Number		Invoice Description					Discount Taken		Amount Paid	
08/20/25	70561-082025		PA 312 - 6200 Cyrils Dr irriga				$0.00		$27.57	
				TOTALS:					$0.00		$27.57	
BANK:	OM-ACH	CHECK:	70053	AMOUNT:	$2,491.72	DATE:	09/11/25	VEND ID:	OUC			
Date	Invoice Number		Invoice Description					Discount Taken		Amount Paid	
08/25/25
08/25/25	05831-082525
05831-082525		PA 312 - OUC 2025.08.25 - Stre PA 312 - OUC 2025.08.25 - Elec				$0.00
$0.00		$2,360.80
$130.92	

BANK:	
OM-ACH	
CHECK:	
70054	TOTALS:
AMOUNT:	
$109.89	
DATE:	
09/10/25	
VEND ID:	$0.00
TOHO		$2,491.72	
Date	Invoice Number		Invoice Description					Discount Taken		Amount Paid	
08/20/25	71904-082025		PA 313 - 2900 Marina Landings				$0.00		$109.89	
				TOTALS:					$0.00		$109.89	
BANK:	OM6557	CHECK:	1622	AMOUNT:	$223.25	DATE:	09/19/25	VEND ID:	ORLSEN			
Date	Invoice Number		Invoice Description				Discount Taken		Amount Paid	
08/31/25	OSC123111839		PA 314 - Ad: 7856647 ; 09/04/2				$0.00		$223.25	
			TOTALS:				$0.00		$223.25	

Sunbridge Stewardship District

Review of District’s Financial Position and Budget to Actual YTD

Sunbridge Stewardship District
September 2025 Financial Package

September 30, 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 9/30/2025	
	
General Fund		
Debt Service Fund		
Capital Projects Fund		
Long-Term Debt Fund			
Total	
			
Assets								
Current Assets											
General Checking Account	$	67,752.08								$	67,752.08	
Sustainability Reserve	71,533.46									71,533.46	
Infrastructure Capital Reserve	21,731.63									21,731.63	
Accounts Receivable	4,166.67									4,166.67	
Accounts Receivable - Due from Developer	140,000.00									140,000.00	
Prepaid Expenses	3,183.35									3,183.35	
Deposits	240.00									240.00	
S2022 (DW) - Debt Service Reserve			$	478,325.00							478,325.00	
S2022 (WP) - Debt Service Reserve			795,976.25							795,976.25	
S2022 (DW) - Revenue			486,939.87							486,939.87	
S2022 (WP) - Revenue			845,913.60							845,913.60	
S2022 (DW) - Prepayment			12,129.51							12,129.51	
S2022 (DW) - Acquisition/Construction					$	7,838.12					7,838.12	
S2022 (WP) - Acquisition/Construction					31,319.42					31,319.42	
Total Current Assets	$	308,607.19		$ 2,619,284.23		$	39,157.54		$	-		$	2,967,048.96	

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

$	2,619,284.23		

$	

2,619,284.23	
									33,725,715.77			33,725,715.77	
	$	-		$	-		$	-		$ 36,345,000.00		$	36,345,000.00	
Total Assets	$	308,607.19		$ 2,619,284.23		$	39,157.54		$ 36,345,000.00		$	39,312,048.96	

Page 1 of 7

Long-Term Debt Fund			Total	

$	

97,870.43	
				189,000.00	
				100,000.00	
$	-		$	386,870.43	

$ 36,345,000.00		
$	
36,345,000.00	
$ 36,345,000.00		$	36,345,000.00	
$ 36,345,000.00		$	36,731,870.43	

$	

(227,908.70)	
			(26,400.00)	
			301,926.76	
			(125,881.30)	
			2,541,034.22	
			78,250.01	
			3,450,749.64	
			(3,411,592.10)	
$	-		$	2,580,178.53	
				
$ 36,345,000.00		$	39,312,048.96	

Sunbridge Stewardship District Statement of Financial Position As of 9/30/2025

General Fund

Debt Service	Capital Projects Fund		Fund

Liabilities and Net Assets

Current Liabilities Accounts Payable Due to Developer Deferred Revenue
Total Current Liabilities

Long Term Liabilities
Revenue Bonds Payable - Long-Term Total Long Term Liabilities

Total Liabilities

Net Assets
Net Assets, Unrestricted
Current Year Net Assets, Unrestricted
Net Assets - General Government
Current Year Net Assets - General Government

$	97,870.43

	189,000.00							
	100,000.00							
$	386,870.43		$	-		$	-	
$	-		$	-		$	-	
$	386,870.43		$	-		$	-	

$	

(227,908.70)							
	(26,400.00)							
	301,926.76							
	(125,881.30)							

Net Assets, Unrestricted			$ 2,541,034.22		
Current Year Net Assets, Unrestricted			78,250.01		
Net Assets, Unrestricted					$  3,450,749.64	
Current Year Net Assets, Unrestricted					(3,411,592.10)	
Total Net Assets	$	(78,263.24)		$ 2,619,284.23		$	39,157.54	
						
Total Liabilities and Net Assets	$	308,607.19		$ 2,619,284.23		$	39,157.54	

Page 2 of 7

Sunbridge Stewardship District
Statement of Activities As of 9/30/2025	
	
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
99,999.96
26,400.00
$	2,542,832.19
11,956.53

$	547,743.83	$	2,554,788.72	

$	-	

$	-	

$

$	

402,961.10
18,382.77
99,999.96
26,400.00
2,542,832.19
11,956.53
3,102,532.55	
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
Water Reclaimed General Insurance Property & Casualty Irrigation
Irrigation Parts	

$	2,998.00
8,512.26
50,000.00
7,478.95
10,000.00
496.42
33,247.30
15,000.00
8,000.00
350.00
167.26
63.51
2,021.39
2,220.00
175.00
1,631.37
334.65
6,997.00
2,404.00
9,007.81
794.35			

$	

2,998.00
8,512.26
50,000.00
7,478.95
10,000.00
496.42
33,247.30
15,000.00
8,000.00
350.00
167.26
63.51
2,021.39
2,220.00
175.00
1,631.37
334.65
6,997.00
2,404.00
9,007.81
794.35	

Page 3 of 7

Sunbridge Stewardship District
Statement of Activities As of 9/30/2025

Debt Service	Capital Projects	Long-Term Debt		
Fund	Fund	Fund		

General Fund	Total

Landscaping Maintenance & Material	$  469,539.29						$	469,539.29	
Landscape Improvements	6,797.22						6,797.22	
Tree Trimming	10,925.00						10,925.00	
Pest Control	1,500.00						1,500.00	
Sustainability Agreement	26,400.00						26,400.00	
Streetlights	28,308.00						28,308.00	
Personnel Leasing Agreement	7,500.00						7,500.00	
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	$	712,868.78		$	2,598,769.88		$  3,546,266.49		$	-	$  6,857,905.15	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	12,843.65						$	12,843.65	
Dividend Income			$	122,231.17				122,231.17	
Dividend Income					$	134,674.39		134,674.39	
Total Other Revenues (Expenses) & Gains (Losses)	$	12,843.65		$	122,231.17		$	134,674.39		$	-	$	269,749.21	
Change In Net Assets	$ (152,281.30)		$	78,250.01		$ (3,411,592.10)		$	-	$ (3,485,623.39)	
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	
$	(78,263.24)		
$	2,619,284.23		
$	39,157.54			

$	-	$  2,580,178.53	

Page 4 of 7

Sunbridge Stewardship District
Budget to Actual
For the Month Ending 9/30/2025

	YTD Actual		YTD Budget		YTD Variance		FY 2025
Adopted Budget		Percentage Used	

Revenues										
On-Roll Assessments	$	402,961.10		$	402,099.45		$	861.65		$	402,099.45		100.21%	
Other Income & Other Financing Sources	18,382.77		-		18,382.77		-			
Landscaping Contribution Agreement - TE3	49,999.92		49,999.92		-		49,999.92		100.00%	
Landscaping Contribution Agreement - TOHO	50,000.04		50,000.04		-		50,000.04		100.00%	
Sustainability Contributions	26,400.00		50,000.00		(23,600.00)		50,000.00		52.80%	
Carry Forward Revenue	20,000.00		20,000.00		-		20,000.00		100.00%	
Net Revenues	$	567,743.83		$	572,099.41		$	(4,355.58)		$	572,099.41		99.24%	
General & Administrative Expenses										
D&O Insurance	$	2,998.00		$	3,222.30		$	(224.30)		$	3,222.30		93.04%	
Trustee Services	8,512.26		8,512.26		-		8,512.26		100.00%	
Management	50,000.00		50,000.00		-		50,000.00		100.00%	
Engineering	7,478.95		8,000.00		(521.05)		8,000.00		93.49%	
Disclosure	10,000.00		5,000.00		5,000.00		5,000.00		200.00%	
Property Appraiser	496.42		550.00		(53.58)		550.00		90.26%	
District Counsel	33,247.30		40,000.00		(6,752.70)		40,000.00		83.12%	
Assessment Administration	15,000.00		15,000.00		-		15,000.00		100.00%	
Reamortization Schedules	-		125.00		(125.00)		125.00		0.00%	
Audit	8,000.00		8,200.00		(200.00)		8,200.00		97.56%	
Arbitrage Calculation	350.00		700.00		(350.00)		700.00		50.00%	
Travel and Per Diem	167.26		500.00		(332.74)		500.00		33.45%	
Telephone	-		25.00		(25.00)		25.00		0.00%	
Postage & Shipping	63.51		150.00		(86.49)		150.00		42.34%	
Copies	-		150.00		(150.00)		150.00		0.00%	
Legal Advertising	2,021.39		3,550.00		(1,528.61)		3,550.00		56.94%	
Miscellaneous	-		50.00		(50.00)		50.00		0.00%	
Web Site Maintenance	2,220.00		2,520.00		(300.00)		2,520.00		88.10%	
Dues, Licenses, and Fees	175.00		175.00		-		175.00		100.00%	
Electric	1,631.37		1,000.00		631.37		1,000.00		163.14%	
Water Reclaimed	334.65		-		334.65		-			
Infrastructure Capital Reserve	10,000.00		10,000.00		-		10,000.00		100.00%	
General Insurance	6,997.00		7,519.85		(522.85)		7,519.85		93.05%	
Property & Casualty Insurance	2,404.00		1,150.00		1,254.00		1,150.00		209.04%	
Irrigation	9,007.81		35,000.00		(25,992.19)		35,000.00		25.74%	
Irrigation Parts	794.35		7,000.00		(6,205.65)		7,000.00		11.35%	
Landscaping Maintenance & Material	469,539.29		256,200.00		213,339.29		256,200.00		183.27%	
Landscape Improvements	6,797.22		10,000.00		(3,202.78)		10,000.00		67.97%	
Tree Trimming	10,925.00		5,000.00		5,925.00		5,000.00		218.50%	
Contingency	-		9,300.00		(9,300.00)		9,300.00		0.00%	
Pest Control	1,500.00		1,000.00		500.00		1,000.00		150.00%	
Signage & Amenities Repair	-		1,000.00		(1,000.00)		1,000.00		0.00%	

Page 5 of 7

Sunbridge Stewardship District
Budget to Actual
For the Month Ending 9/30/2025	
	
YTD Actual	
YTD Budget	

UF Research Agreement	
$	
26,400.00	
$	
50,000.00	
Streetlights		28,308.00		29,000.00	
Personnel Leasing Agreement		7,500.00		7,500.00	
Total General & Administrative Expenses	$	722,868.78	$	577,099.41	
Total Expenses

Income (Loss) from Operations

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

Net Income (Loss)	 $	

$

$
$

$	722,868.78 	 $		577,099.41 	
		(155,124.95)	$	(5,000.00)	
		
12,843.65	
$	
5,000.00	
		12,843.65	$	5,000.00	
		(142,281.30)	$	-	

YTD Variance

FY 2025	Percentage Adopted Budget		Used

$	145,769.37		$	577,099.41		125.26%	
 $		145,769.37 		 $	577,099.41 		  125.26%		
$	(150,124.95)		$	(5,000.00)			

$	
7,843.65		
$	5,000.00		
256.87%	
$	7,843.65		$	5,000.00		256.87%	
$	(142,281.30)		$	-			

$	(23,600.00)	$	50,000.00	52.80%	
(692.00)	29,000.00	97.61%	
-	7,500.00	100.00%	

Page 6 of 7

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)	
4,379.99	(2,852.43)	
44,166.67	(107,870.43)	

Sunbridge Stewardship District Cash Flow

	Beg. Cash				FY26 Inflows	FY26 Outflows	End. Cash		

10/1/2024	
22,597.79				
-	
-	
60,171.76		
11/1/2024	60,171.76				-	-	71,224.69		
12/1/2024	71,224.69				-	-	313,337.36		
1/1/2025	313,337.36				-	-	216,701.86		
2/1/2025	216,701.86				-	-	213,694.55		
3/1/2025	213,694.55				-	-	108,463.07		
4/1/2025	108,463.07				-	-	231,040.89		
5/1/2025	231,040.89				-	-	209,944.74		
6/1/2025	209,944.74				-	-	133,697.24		
7/1/2025	133,697.24				-	-	134,337.57		
8/1/2025	134,337.57				-	(1,374.00)	66,224.52		
9/1/2025	66,224.52				-	-	67,752.08		
10/1/2025	67,752.08				104,166.67	(21,613.84)	86,601.15	as of 10/29/2025	
		
3,360,665.70	
(3,374,038.97)		
104,166.67	
(22,987.84)			

Page 7 of 7