10/14/2013 Agenda0 �S
4 ;Z�tedar yammock Community Development District
C�
vs
offSupervis
?rank Vaselew Chairman Calvin Teague, District Manager
Tom Cook ice Chairman Dan Cox, District Counsel
G 1,14 lellan, Assistant Secretary Sam Marshall, District Engineer
La y Minamyer, Assistant Secretary
Bob Nocera, Assistant Secretary
Regular Meeting Agenda
Monday, October 14, 2013 — 3:00 p.m.
1. Roll Call
2. Approval of the Minutes of the April 15, 2013 Meeting
3. Audience Comments
4. Old Business
A. Update of Water Use Permit
B. Update Road and Utility Ownership
5. New Business
A. Discussion of Road Resurfacing Project Planning Efforts
B. Discussion of Storm Water System Maintenance Needs
C. Discussion of Swimming Pool and Tennis Center Ownership Transfer
6. Manager's Report
A. Financial Report for September, 2013
B. Acceptance of the Audit for Fiscal Year 2012
C. Consideration of Motion Assigning Fund Balance
7. Attorney's Report
S. Engineer's Report
9. Supervisors Request
10. Adjournment
THE NEXT REGULAR MEETING IS SCHEDULED FOR
NOVEMBER 11, 2013 at 3:00 P.M.
District Office:
5911 Country Lakes Drive
Fort Myers, Florida
239 - 245 -7118
www.CedarHammockCDD.com
Meeting Location:
Cedar Hammock Clubhouse
8660 Cedar Hammock Boulevard
Naples, Florida
October 3, 2013
To: Cal Teague, District Manager
From: Gary Rawlings, Assistant District Manager
Re: Cedar Hammock Cardno ENTRIX Service
In response to your email of 09.04.2013 asking for a status summary the following AP
excerpts are from email correspondence I have had with Gary Susdorf:
• we still ce in
•
The _a scheduled tovalkiwQatabor
OZQ�J. The related C,,TtInl
cam. at-.Lhattirne. r>'
The ir.tilgrarn and associated pumpage submittals are
for theme t The W3:<gs410
Meitar�;�es. All cxistmg meters are
� current .,wig- reealibratitmstt� °b� °done int =2Elxl"a5.
pit • Once the permit is issued, additional costs will be required for the two
G - additional wells to be added to the system. Approximate cost - $68,000.00
Z ($34 /per) l
CV"*'
• SFWMD has a requirement that
�ky 440wm. Cedar Hammock is onlywfKyp .yew 4;
;: s�ast:�,n�,;�tlaat l"e�1��• � �,
Sam Marshall gave me the following information:
• The <*ccUwga 1k os'water:from a groundwater aquifer and pumps it into a
lake. This is to replace the lake water that is used for irrigation.`
• The SFWMD typically requires that the rpcharge—W61TVolmne equals the
,,irrigation volume. t '
• A monitoring well can be used to monitor water quality (salinity mostly) and also �}
water levels. They are required as part of the SFWMD permit.
Cost Summary:
• Wetland. Monitoring, Program _ - 4 Quarters left @ $1275
• °Salirne Water Mbnrtdriiig `Program = ong+oirlg@' $60O/m6 , $7,200 1yr
• Meter Calibrations - as needed.
• 11 Censtrdction $34 000/ a
Let me know if you need anything more.
Gary Rawlings, Assistant District Manager
2 3'
W Q
a
UO
s
W p
}} l7 U
NNNIriI NfY/IN N 4Qwi{A�
d aOn MNO .i°- u W S
t
K
> V' mUU
Y Z
yy Y
000
YY KT
K � 3
wppp
ISO OJ 464�ryry= OfN/IN
O O o
SSIYZ�Q
�sOto
a oow
– — .._.. —.._ -- --- - - - - -- _ _
------------ -- - - - - -- -' —,.
�S
s
Z uj
� Z'
W
!; .iiii:
�<:: ::
E9 i .�
0
fi! I dP �- ✓ \
EI i
tea,.,
C;
I I "log
Fi=
jI f�
---- -------------
- ----- --------- ----
Cj
Item A
Item Description
Pipe Size
Current Condition
Recommendation of Corrective Action
cost
Estimate
5
7P
oared Pipe End
Manhole
Flared Pie End
24"
30"
18"
24"
18'
light Rip-Rap Remove Rip Rap $50
8
9P
19P
Flared Pipe End
53P
54AP
Pond Pie End
Spreader Swale C
Box Inlet
Mitred End
18"
18"
NIA
15"
15"
15"
24"
24"
15"
30"
30"
24"
5 -24"
18"
SSC
70
70P
71P
Mitred End
CS5
Control Structure 5
Flared Pie End
Box Inlet
Flared Pie End
Flared Pie End
CS5P
72
74P
76P
122
124
8P
Pipes & Spreader Swales
Flared Pipe End
C81
Control Structure 1
18"
Light Vegetation & Debris Clear & Grub Vagetatlon & Debris $100
11
Curb Side Inlet
30"
Light Debris
Remove Debris.
$50
12P
Flared Pipe End
30"
L' ht Rip-Rap / 1" Sediment
Remove Rip Rap. Flush Sediment from Structure & Upstream Pie
$400
15
Box Inlet
to-
2" Sediment
Flush Sediment from Structure & Upstream Pie
$350
CS2
Control Structure 2
24'
Light Vegetation & Debris
Clear & Grub Vegetation & Debris
$100
CS2P
Flared Pipe End
24"
Light Ri -Ra
Remove Debris.
$50
22P
Flared Pi PA Fnd
42"
Light Rip-Rap I T'Sediment
Remove Rip Rap, Flush Sediment from Structure &U stream Pie
$350
25P
Flared Pie End
42"
Light Rip-Rap 1" Sediment
Remove Rip Rap. Flush Sediment from Structure & Upstream Pipe
$400
28P
Flared Pie End
30"
Li ht Rip-Rap / 1" Sediment
Remove Rip Rap. Flush Sediment from Structure & Upstream Pipe
$400
35P
Flared Pipe End
W.
Light Rip-Rap
Remove Rip Rap.
$50
35P
Flared Pipe End
W.
- 1- htRip-Rap
Remove Rip Rap.
$50
37P
Flared Pipe End
W.
Li ht Debris -
Remove Rip Rap.
$100
45P
Flared Pipe End
15"
_ Light Debris
Remove Rip Rap.
$100
49P
Flared Pipe End
_
24"
Uhl Rip-Rap / 4'. Sediment
Remove Rip .Rap . Flush Sediment from Structure &U stream Pi
$400
56P
Flared Pie End
24"
1" Sediment
Flush Sediment from Structure & Upstream Pi
$350
57P
Flared Pipe End
24"
Light Rip-Rap
Remove Rip Rap.
$50
CS4
Control Structure 4
24"
Light Debris
Remove Debris
$50
59AP
Flared Pipe End
24"
Light Rip-Rap
Remove Rip Rap,
$50
60P
Flared Pipe End
30"
3' Sediment
Flush Sediment from Structure & Upstream P'
$350
66P
Flared Pipe End
18"
2" Sediment
Flush Sediment from Structure & Upstream P'
$350
67P
Flared Pipe End
24"
2" Sediment
Flush Sediment from Structure & Upstream Pi
$350
73P
Flared Pipe End
30"
U ht Rip-Rap ! 2" Sediment
Remove Rip-Rap. Flush Sediment from Structure & Upstream PI
$400
75P
Flared Pipe End
30"
Light Rip-Rap ! 2" Sediment
Remove Rip-Rap. Flush Sediment from Structure & Upstream PI
$400
82
Curb Side Inlet
24"
1" Sediment
Flush Sediment from Structure & Upstream P'
$350
83
Curb Side Inlet
18 ", 24"
1" Sediment
Flush Sediment from Structure & Upstream Pipe
$350
84
Curb Side Inlet
18"
2" Sediment
Flush Sediment from Structure & Upstream Pipe
$350
85
Box Inlet
18"
2" Sediment
Flush Sediment from Structure & Upstream Pie
$350
89
Box Inlet
18"
1" Sediment
Flush Sediment from Structure & Upstream Pie
$350
39P
Flared Pipe End
18"
2" Sediment
Flush Sediment from Structure & Upstream Pie
$350
CS3P
Flared Pipe End
15"
Light Rip -Rap
Remove Rip Rap.
$50
CS3
Control Structure 3
15"
Light Debris
Remove Debris
$50
96
Curb Side Inlet
15', 18"
Light Debris
Remove Debris
$50
SSA
Spreader Swale A
N/A
Light Vegetation
Clear & Grub Vegetation
$250
111
Box Inlet
16"
Li ht Vegetation
Clear & Grub Vegetation
$250
118
Flared Pipe End
24"
1" Sediment
Flush Sediment from Structure & Upstream Pipe
$350
119
Flared Pipe End
30"
Light Rip-Rap
Remove Rip Rap.
$50
125_
Pipes & Spreader Swales
5 -24"
2" Sediment
Flush Sediment from Structure & Upstream Pie
$350
9
10
Curb Side inlet
Curb Side inlet
18',24 "tin_,.
18"
rx
,, n xy„s '� _ �_ '+a •+
.:
e,
rs "a „:` "%`
AMU
INN
7
Flared Pipe End
24 ",30"
1
Flared Pipe End
15"
2
Curb Side Inlet
15--,18-
1A
2- Mitred Ends
2 -24"
1B
2- Mitred Ends
2 -24"
3
Curb Side Inlet
15"
4
Curb Side Inlet
15", 18"
12
Curb Side Inlet
30"
13
Curb Side Inlet
15"
14
Curb Side Inlet
1511,181,
14P
Flared Pipe End
18”
. '
"'�� ,^�.�;;`' .,k'�"t'IM.
y" = t "s:; r . "'; w _..r`", - •-*' ." ,
, x "ffi.. -::'s ..,,. ., '#r"s °.. ? `�&3 :? r �r ✓ ._- ...2'" _ ...,a,. _"a..� „
".,x >�.":.- .. - c- ; -. i_ v,
u.`?�3'h' .€�' rr::p -'' , -,.�; .-, r, ,ao- >� !x 4: sr. c`�,.. �.s '"_ ,,._3e ....: -�. 'r �T 3 �x x? *
W?
.i�
`aa
.�., .
;w" A'i 2
16
Curb Side Inlet
18"
17
Curb Side Inlet
18 ", 24 "
17P
Flared Pipe End
24"
18
Curb Side Inlet
15"
19
Curb Side Inlet
1511.18"
20
Curb Surface Inlet
15"
21
Curb Side
21P
Flared Pipe End
18 ".i,
SSD
Spreader Swale D
N/A
22
Box trial
42"
23
Curb Side Inlet
42"
24
Curb Side Inlet
42..
7P
7P
�
7P
N
W.,
OP-M
Id
CS]
11
4 4r a io w ft wlv NL -0
CS1
r
Ix , �A-
12P
15 19P
CS2
CS2P
ON
Ilk
CS2
22P
28P
37P
49P
45D
53P
54AP 57P
CS4
SSC
OV,
67P 70
70P
CS5
7
71P
4A
CS5
� ��� \�
Z� /���.
il
73P
75P
M-14%
RM
M.
SSA 119
119
h
124
q
124
122
cgg � :. I..,
124
125
Cedar Hammock
Community Development District
Financial Report
September 30, 2013
Prepared by
CEDAR HAMMOCK
Community Development District
Table of Contents
FINANCIAL STATEMENTS
Balance Sheet ........................... ............................... Page 1
Statement of Revenues, Expenditures and Changes in Fund Balances
General Fund ........................... ............................... Page 2
SUPPORTING SCHEDULES
Non -Ad Valorem Special Assessments
Cash and Investment Report
Suntrust Bank Reconciliation
Check Register & Invoice Copies
........................... ............................... Page 3
........................... ............................... Page 4
....... ..... ........................ ... I.................. Page 5
........................... ............................... Page 6 - 48
Cedar Hammock
Community Development District
Balance Sheet
September 30, 2093
Governmental Fund
ACCOUNT DESCRIPTION GENERAL FUND
ASSETS
Cash In Bank $ 72,717
Investments:
Certificates of Deposit - 450 Days 25,282
Money Market Account 415,502
TOTAL ASSETS $ 513,501
LIABILITIES
Accounts Payable $ -
Accrued Expenses 600
TOTAL LIABILITIES 600
FUND BALANCES
Assigned to.-
Reserved - Operating Reserves
38,077
Reserved - Bridges
58,180
Reserved - Bulkheads
125,245
Reserved - Lakes
70,460
Reserved - Roadways
193,598
Unassigned.'
27,341
TOTAL FUND BALANCES
$ 512,901
TOTAL LIABILITIES &
FUND BALANCES
$ 513,501
Prepared by:
Report Date: 10/2/2013 Severn Trent Management Services Page 1
CEDAR HAMMOCK General Fund
Community Development District
Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending September 30, 2013
EXPENDITURES
ANNUAL
Administrative
ADOPTED
YTD
YTD
VARIANCE ($)
SEPT -13
ACCOUNT DESCRIPTION
BUDGET
BUDGET
ACTUAL
FAV(UNFAV)
ACTUAL
REVENUES
2,000
2,000
3,238
(1,238)
-
Interest - Investments
$ 2,080
$ 2,080
$ 1,849
$ (231)
$ 158
Special Assmnts- Tax Collector
279,653
279,653
279,650
(3)
-
Special Assmnts- Discounts
(11,186)
(11,186)
(10,223)
963
-
TOTAL REVENUES
270,547
270,547
271,278
729
158
EXPENDITURES
Administrative
500
500
500
-
ProfServ- Engineering
10,000
10,000
17,533
(7,533)
600
ProfServ-Legal Services
2,000
2,000
3,238
(1,238)
-
ProfServ-Mgmt Consulting Sery
32,479
32,479
32,479
3,000
2,707
ProfServ- Property Appraiser
4,195
4,195
4,195
3,000
ProfServ- Special Assessment
2,718
2,718
2,718
5,000
-
Auditing Services
5,250
5,250
5,000
250
1,150
Communication • Telephone
20
20
7
13
-
Postage and Freight
750
750
393
357
1
Insurance - General Liability
6,325
6,325
7,061
(736)
-
Printing and Binding
750
750
531
219
Legal Advertising
2,000
2,000
1,131
869
-
Misc -Bank Charges
1,000
1,000
514
486
38
Misc- Assessmnt Collection Cost
5,593
5,693
5,389
204
-
Office Supplies
250
250
469
(219)
150
Annual District Filing Fee
175
175
175
Total Administrative
73,505
73,505
80,833
(7,328)
2,896
Field
ProfServ-Field Management
500
500
500
-
Contracts -Water Mgmt Services
7,200
7,200
7,200
600
Contracts -Water Quality
7,200
7,200
10,505
(3,305)
-
R &M- Bridge
3,000
3,000
-
3,000
R &M -Lake
3,000
3,000
3,000
R &M -Plant Replacement
5,000
5,000
-
5,000
-
Misc- Contingency
3,303
3,303
1,150
2,153
1,150
Capital Outlay
49,600
49,600
7,956
41,644
-
Reserve - Bridges
25,000
25,000
-
25,000
Reserve - Bulkheads
47,000
47,000
-
47,000
Reserve - Lakes
19,000
19,000
-
19,000
Reserve - Roadways
27,239
27,239
2,015
25,223
-
Total Field
197,042
197,042
29,327
167,715
1,750
TOTAL EXPENDITURES
270,547
270,547
110,160
160,387
4,646
Net change in fund balance
$ -
$ -
$ 161,116
$61,1116 $
(4,488)
FUND BAL, BEGINNING (OCT 1, 2012)
351,785
351,785
351,785
FUND BALANCE, ENDING
$ 351,785
$ 361,785
$ 512,901
Report Date: 10/1/2013 Prepared by: Page 2
Severn Trent Management Services
Cedar Hammock
Community Development District
Non -Ad Valorem Special Assessments
(Collier County Tax Collector - Monthly Collection Distributions)
For the Fiscal Year Ending September 30, 2013
Discount / Gross
Date Net Amount (Penalties) County Exp Amount
Received Received Amount Amount Received
;sessments Levied $279,650
location % 100%
11/07/12 $
2,355.52 $
133.91 $
48.07 $
2,537.50
11114/12
37,867.20
1,610.00
772.80
40,250.00
11129/12
65,856.00
2,800.00
1,344.00
70,000.00
12113/12
120,640.84
5,084.60
2,462.06
128,187.50
01/04/13
3,909.36
123.36
79.78
4,112.50
01/31/13
18,040.98
490.84
368.18
18,900.00
03/06/13
3,711.26
63.00
75.74
3,850.00
04/10/13
6,417.53
14.00
130.97
6,562.50
05/07/13
2,325.54
(10.50)
47.46
2,362.50
06/04/13
1,059.87
(31.50)
21.63
1,050.00
06/17/13
1,501.49
(44.63)
30.64
1,487.50
07/02/13
353.29
(10.50)
7.21
350.00
TOTAL $
264,038.88 $
10,222.58 $
5,388.54 $
279,650.00
% COLLECTED 100.00%
TOTAL OUTSTANDING $ -
Report Date: 10/1/2013 Prepared by:
Severn Trent Management Services Page 3
CEDAR HAMMOCK
Community Development District
Cash and Investment Report
September 30, 20 U
General Fund
Account Name Bank Name Investment Upi
Checking Account - Operating SunTrust Bank n/a
Certificate of Deposit 1st So Bank 18 month CD
Money Market Account Florida Shores Public Funds MMA
All Funds
Motuift Yield
n/a 0.10%
$ 72,717
27115 0.55%
25,282
n/a 0.45%
415,502
Total
$ 513,501
Report Date: 10/1/2013 Prepared By:
Severn Trent Management Services Page 4
Cedar Hammock COD
Bank Reconciliation
Bank Account No. 9995
Statement No. 09.13
Statement Date 09/30/13
GIL Balance (S)
72,716.76
Statement Balance
75,574.72
G/L Balance
72,716.76
Outstanding Deposits
0.00
Positive Adjustments
0.00
- - -- - - --
- -
---
subtotal
75,574.72
Subtotal
72,716.76
Outstanding Checks
2,857.96
Negative Adjustments
0.00
Total Differences
0.00
Ending GIL Balance
72,716.76
Ending Balance
72,716.76
Difference
0.00
Postina
Cleared
Date Document Tvt1e
Document No.
Description
Amount
Amount
Difference
Checks
08/27/13 Payment
1510
SEVERN TRENT ENVIRONMENTAL
2,708.58
2,708.58
0.00
09/03/13 Payment
1511
CARDNO ENTRIX
600,00
600.00
0.00
09/03/13 Payment
1512
FEDEX
10.99
10.99
0.00
09/06/13 Payment
1513
CARDNO ENTRIX
1,276.00
1,275.00
0.00
09113/13 Payment
1514
APPLIED AQUATIC MANAGEMENT INC
1,150.00
1,150.00
0.00
09/13/13 Payment
1515
CARDNO ENTRIX
600.00
600.00
0.00
09/13/13 Payment
1516
DANIEL H. COX, P.A.
75.00
75.00
0100
09/18/13 Payment
1517
BANKS ENGINEERING INC
740.00
740.00
0100
Total Checks .. . ........
.. .. . . .. .....
.. . . .... ... ... . ...... ..
... ..
7,159.57
7,159.57
0.00
Deposits
09/20/13
ACH DEBIT
SUNTRUST ANALYSIS FEE -AUG 2013
-37.74
-37.74
0.00
09/30/13
ACH CREDIT
SUNTRUST INTEREST INC -SEPT 2013
4.50
4.50
0.00
Total Deposits ... .. . ... ...
... . ....
. .... ... . . . .... . ... . .. . .. .
.....
-33.24
-33.24
0.00
Outstanding Checks
09/26/13 Payment
1518
SEVERN TRENT ENVIRONMENTAL
2,857.96
0.00
2,857.96
Total Outstanding Checks .. ....
. . . . . ...
.... . ... .... .. . . ..... ... . .. .
. ....
2,857.96
Page 5
_ _ 8S S N N O �up�pY, ONE• Y aOy ((O��I pO pO l6� �Wp O N
c'1 FAq
V! (fl N
N
pp pp pp po Q pp pp pp pp a-
u)
In N Y1 NN In ��lQJ V1 IA i� �Lo I� V1 VM) In
op� o br �i ago${ g 51; g o
( l 0 w N M 1Ci Ln N N N tMf1
c.
Z ry
• w � � � F g ci g 9� � 3 ° w 3 �
J c � �
A @
N
® v E yd o
e C 'e9 J a N d U O U d
d p a �o d a 12
U a U
O
M Z
o
o O Z�ZQ (�
d J Z cr
aM M 7' �r
M c
LL P7 W = M aS c+> of 0
e Z d' y to y fn
G T W Z O M LL u, LL LL Z J O g
Dp z w U_ r p 5. w o c
(n J W+ W W W W F_- �'S a ry J
a w 'Q a L LUu Lu w o Z H
V M ... 2 Y ° ti LL 2` Z Z Z J O a W N
ce LL m M M m 2 wi wz w w M w
L4
0 0 0 m
p � �
Z yNa (}Qj� ft,0p app (p ((pO y� � pp
N
W N
{yFJ c0 apo o (O f0
M W N N VJ f/7 W !/1 �A
z z z z U
Lu uj w U
of U
? w° a & 0 Z
c 9 d 3 >> z d
w x a z wwww x t w x
Q z F- x J WzW
g z = X
z w a a�w= w a z g �,
o w ° r z ti
E o z = N z z z z ° o = W g o
Y 0 w J w W W w w W O D Q y q W N
s Z = Z o o W Z a
E a zz w 6 o LL w u) �� U m
Q M Cl) P Cl) r eM`- �2 M r M M 1 Y
he
<3 � is m r3 r3 m �_ v � {O�f .- � � �w• n O
o g � o 0 0 0 0 0 0 0 0 o p•
d c W w o O — o — o Y O o o o o 0
(� LL (7 V U U U U U U U
v
0
LL M Z QQ
^ Y
r V
� a t
OU
T
O
a�
LL
U
c
d
E
O N
m
r
�C
CL
V U
°o,
m
�
�i,
Svwi. o,
v
a
a
1m
N N to N N �
O S S
N
Y1
IC1
O
N
11( N 1f1 IA h
N
N NE N �+
00 cl
N
JS
O
O}
((Oy�00}
O
O O O p S
O
O O
O
o
cn
m
v1 rn
t°A
rn
c d
ffi
rn a rn E
�o d
rn
L c
LL
�gm
c�gg~ $
N
US
_
��m
F g
01 w ii
C
y
2
LL O� rn rn
N
W
q�
a-
a
u_�i IL-
8
N
m
m
H
cq
W
^
w
U
N
�
`r
W
W
O
Y
+�
!A co U N U1
Q
',"n
N
LL
O N N N
m m m
W W �WJ W W
w LL
y
m
¢Q
=�
- W W W
LL LL LL LL
(7
z
W W W
LL LL LL
U
?
LL LL LL
O
~,��-y Z z rz z
z z
O
z z z
H
W W w W w
2
fn
LL w W W
=
W W W
~
Z
g g g .�
4Q
q
c9
O g g�
z
CQ9 CQQ9 cQwQ7
LL
O
O
z
w cw7
Cw7 wU� C7
f
Q�Q
Z 2 2 Z
u'
LL
y
w
q�
Z Z
J
Z
ZQ Z
Z
g i g Q� g
O_
z
i
Q
Z
>U>
Z
m M m m M
O
w
q
K
C�
W m m m
m m m
1n 1n v1 u� 1n
N N N N
Q
N
u
w
U In 1'3 13
i
1: r:
2
4
z
S
N N N N N
M
W co co W W
m
N
w w w w
Sj
W U OWl W
m
o
y N
a s
Z
a
y N ((1)
a
8
w W W w w
w w w
w w w
w
z z z z
Z Z Z Z
Z Z Z
2
Z Z z Z pp2
90_ UR_'
U
?
LY 1 � X
K K_
>K_>
Z Z Z Z
IL
Q
z Z z Z
Z z
x
w w w w
m
as
w
w w w w
X
w w w
x
F-
w
w
w W w
�� ��
O
O
9
LY I w
W
w� K
���
z
w
z
W
r i r�
c�
O
z
z Z Z Z z
�C
w
=
m
Z z
zdLZw�
O
z
z z z
azz
O
z
o
wwww
W W W W W
U'
X
W
w
W W W W
O
W W W
O
N
qO
W
ZY
QO
W y
7
U
m
(wn twn W o w
m m m M m
m
C
M_
m
m
v)
m _M
m
(j) (1)
m M m
M
N
a
10
f�`�V HMV �`Ml
1�
If7
�V N N N
tf1
O �1
1lf
�V
in Q
tf
l�S
0
4� V7 113 l!7 �[i
0 0 0 0 o
S
G
0
�3
Ip �p r�rS .�i
0 0 0
003
o
p,
ltiCS!
Jj o
it
Y o 0p 0 0
it
o
�cV�G6
o
q!
pp
!L[3�
o
Y o 0 0 o
lC��
W o
o o
o
g
LL 7.
O
O O O O S
O
Ly
O
O
W
Z O
I O O O O
O
yVj
O S O
yVj
O
U
U
9
9
U
U
g
op oo,
8
g
o
$
$
8
(pp C�Cpp
O
0
fA
H N
fA
M
f9
cli (Wy
44 tK
p
10
OD
U!
a
oo
N
N
p
p
p
0�1
p
Q
N M M
N
�fi M N
lC��
�n
N
uM'i
vMi
t(�
O
iq
O
Z �vG
U)
N
N
N
N
N N
V
c
c_
m
g J
W
w N
d
a
d
a
a
M
�
rn
2
o
n
U
z
wLLI
4
1
LU
�^
M
v=
N
g
W
m m
O
LL
U
W
w
F
CL
•8 O T
U
N V)
W W
Z
M
=�
Z
O
U
ZOZ Z
'
' dp
LL LL
O
V�G•
J
50;
Q¢
D
w
Z Z
to
U
N
W
Z Z
LD
'C �'
fo
W W
J
co
Z
7
N
ui LU 0
F'
IL
rr
I a
o
�
°
a
o
m
Y
W
Q
U
y
q
Fe
Z
co
3
Q �
Z
°c m
?
LL
Q
W
M
Z
M M
W
O
=O
O
w
rn m
W
n
N
6
m
0
W
N
co to
M
A
m
�[f
pMyp
(y
Q
N N
E
U)
O
N
m Ul
N
i
U
Z
Z
~~
Z
W
yr-
Z Z
z z
Z
O O
U
3
Z Z Z
O O O
Z
zz
q
z
'zzz
T)
w
w
w w
x
x
v
a
X
w
a
�(
w
w
w w w
z rz Fz
a
?
(9
w w
tL
z
o
z
?
w w w
W
w
Z Z
w
O
w
O
¢
O
w
O
=
w
Z Z Z
_
QM
O
W;
0
Z
YY
j W W
L
O
aZ
N W
U
LL
U
CL
4
O
m
W y
r6
co
°
°
0
v
E
ar
a
x
au
v
vt
ve
a
s
vc
tc
Of
gbSSo
o
o o
o
g
lusoYiSos
b
x o
o
o
o o
V U
U.
U
U
U
U
Cedar Hammock
Community Development District
ANNUAL FINANCIAL REPORT
September 30, 2012
Cedar Hammock Community Development District
ANNUAL FINANCIAL REPORT
Fiscal Year Ended September 30, 2012
TABLE OF CONTENTS
REPORT OF INDEPENDENT AUDITORS
MANAGEMENT'S DISCUSSION AND ANALYSIS
Page
Number
1 -2
3 -7
BASIC FINANCIAL STATEMENTS:
Government -wide Financial Statements
Statement of Net Assets
8
Statement of Activities
9
Fund Financial Statements:
Balance Sheet — General Fund
10
Reconciliation of Total Governmental Fund Balances to Net
Assets of Governmental Activities
11
Statement of Revenues, Expenditures and Changes in Fund
Balances — General Fund
12
Reconciliation of the Statement of Revenues, Expenditures and
Change in Fund Balances of Governmental Funds to the
Statement of Activities
13
Statement of Revenues, Expenditures and Change in Fund
Balances — Budget and Actual — General Fund
14
Notes to Financial Statements
15 -23
INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER
FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER
MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING
STANDARDS 24 -25
MANAGEMENT LETTER 26 -27
<<,c,� Berger, Toombs, Elam,
Gaines & Frank
Certified Public Accountants PL
600 Citrus Avenue
Suite 200
Fort Pierce, Florida 34950
7721461.6120 9 461 -1155
FAX: 772/468 -9278
Report of Independent Auditors
To the Board of Supervisors
Cedar Hammock Community Development District
Collier County, Florida
We have audited the accompanying basic financial statements of Cedar Hammock Community
Development District (the "District ") as of and for the year ended September 30, 2012, as listed
in the table of contents, These basic financial statements are the responsibility of the District's
management. Our responsibility is to express an opinion on these basic financial statements
based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United
States of America and the standards applicable to financial audits contained in Govemment
Auditing Standards issued by the Comptroller General of the United States. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe
that our audit provides a reasonable basis for our opinion.
In our opinion, the basic financial statements referred to above present fairly, in all material
respects, the respective financial position of the governmental activities and the major fund of
the District as of September 30, 2012, and the respective changes in financial position and the
budgetary comparison for the General Fund for the year then ended in conformity with
accounting principles generally accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued a report dated May
14, 2013 on our consideration of the District's internal control over financial reporting and on our
tests of its compliance with certain provisions of laws, regulations, contracts and other matters.
The purpose of that report is to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing and not to provide an opinion on the
internal control over financial reporting or on compliance. That report is an integral part of an
audit performed in accordance with Govemment Auditing Standards and should be considered
in assessing the results of our audit.
Fun Pierce / Sluarl
_ 1 _
Member AICPA Member AICPA Division For CPA Firms Member FICPA
Private Companies Practice Section
Berger, Toombs, Elam,
Gaines & Frank
To the Board of Supervisors
Cedar Hammock Community Development District
The Management's Discussion and Analysis is not a required part of the basic financial
statements but is supplementary information required by the Governmental Accounting
Standards Board. We have applied certain limited procedures, which consisted principally of
inquires of management regarding the methods of measurement and presentation of the
supplementary information. However, we did not audit the information and express no opinion
on it.
104 P4.
-Itj�wx *
Berger, Toombs, Elam, Gaines & Frank
Certified Public Accountants PL
Fort Pierce, Florida
May 14, 2013
-2-
Cedar Hammock Community Development District
MANAGEMENT'S DISCUSSION AND ANALYSIS
For the Year Ended September 30, 2012
Management's discussion and analysis of Cedar Hammock Community Development District
(the "District ") financial performance provides an objective and easily readable analysis of the
District's financial activities. The analysis provides summary financial information for the District
and should be read in conjunction with the District's financial statements.
OVERVIEW OF THE FINANACIAL STATEMENTS
The District's basic financial statements comprise three components; 1) Government -wide
financial statements, 2) Fund financial statements, and 3) Notes to financial statements. The
Govemment -wide financial statements present an overall picture of the District's financial
position and results of operations. The Fund financial statements present financial information
for the District's major funds. The Notes to financial statements provide additional information
concerning the District's finances.
The Govemment -wide financial statements are the statement of net assets and the statement
of activities. These statements use accounting methods similar to those used by private- sector
companies. Emphasis is placed on the net assets of governmental activities and the change in
net assets. Governmental activities are primarily supported by special assessments.
The statement of net assets presents information on all assets and liabilities of the District,
with the difference between assets and liabilities reported as net assets. Net assets are
reported in two categories; invested in capital assets, net of related debt, and unrestricted.
Assets, liabilities and net assets are reported for all Governmental activities.
The statement of activities presents information on all revenues and expenses of the District
and the change in net assets. Expenses are reported by major function and program revenues
relating to those functions are reported, providing the net cost of all functions provided by the
District. To assist in understanding the District's operations, expenses have been reported as
governmental activities. Governmental activities financed by the District include general
government, physical environment and interest on long term debt.
Fund financial statements present financial information for governmental funds. These
statements provide financial information for the major governmental funds of the District.
Governmental fund financial statements provide information on the current assets and liabilities
of the funds, changes in current financial resources (revenues and expenditures), and current
available resources.
-3-
Cedar Hammock Community Development District
MANAGEMENT'S DISCUSSION AND ANALYSIS
For the Year Ended September 30, 2012
OVERVIEW OF THE FINANACIAL STATEMENTS (CONTINUED)
Fund financial statements include a balance sheet and a statement of revenues,
expenditures and changes in fund balances for all governmental funds. A statement of
revenues, expenditures, and changes in fund balances — budget and actual, is provided for
the District's General Fund. Fund financial statements provide more detailed information about
the District's activities. Individual funds are established by the District to track revenues that are
restricted to certain uses or to comply with legal requirements.
The government -wide financial statements and the fund financial statements provide different
pictures of the District. The government -wide financial statements provide an overall picture of
the District's financial standing. These statements are comparable to private- sector companies
and give a good understanding of the District's overall financial health and how the District paid
for the various activities, or functions, provided by the District. All assets of the District,
including buildings, land, roads, bridges, and traffic signals are reported in the statement of net
assets. All liabilities, including principal outstanding on bonds, are included. The statement of
activities includes depreciation on all long lived assets of the District, but transactions between
the different functions of the District have been eliminated in order to avoid "doubling up" the
revenues and expenses. The fund financial statements provide a picture of the major funds of
the District. In the case of governmental activities, outlays for long lived assets are reported as
expenditures and long term liabilities, such as general obligation bonds, are not included in the
fund financial statements. To provide a link from the fund financial statements to the
government -wide financial statements, a reconciliation is provided from the fund financial
statements to the government -wide financial statements.
Notes to financial statements provide additional detail concerning the financial activities and
financial balances of the District. Additional information about the accounting practices of the
District, investments of the District, capital assets and long term debt are some of the items
included in the notes to financial statements.
Financial Highlights:
The following are the highlights of financial activity for the year ended September 30, 2012.
♦ The District's total assets exceeded total liabilities by $14,535,760 (net assets).
Unrestricted net assets for Governmental Activities were $351,785. Invested in capital
assets net of related debt was $14,183,975.
♦ Governmental Activities revenues totaled $270,830 while governmental activities
expenses totaled $375,663.
-4-
Cedar Hammock Community Development District
MANAGEMENT'S DISCUSSION AND ANALYSIS
For the Year Ended September 30, 2012
OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)
Financial Analysis of the District
The following schedule provides a summary of the assets, liabilities and net assets of the
District and is presented by category for comparison purposes.
Net Assets
The increase in current assets is primarily due to increases in cash and equivalents as a result
of the excess of revenues over expenditures at the fund level.
The decrease in capital assets and net assets — invested in capital assets, net of related debt is
primarily due to depreciation expense in the current year.
-5-
Governmental Activities
2012
2011
Current assets
$ 361,363
$ 246,023
Capital assets
14,183,975
14,401,382
Total Assets
14,545,33$
14,647,405
Current liabilities
9,578
6,812
Invested in capital assets, net of related debt
14,183,975
14,401,382
Net assets - unrestricted
351,785
239,211
Total Net Assets
$ 14,535,760
$ 14,640,593
The increase in current assets is primarily due to increases in cash and equivalents as a result
of the excess of revenues over expenditures at the fund level.
The decrease in capital assets and net assets — invested in capital assets, net of related debt is
primarily due to depreciation expense in the current year.
-5-
Cedar Hammock Community Development District
MANAGEMENT'S DISCUSSION AND ANALYSIS
For the Year Ended September 30, 2012
OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)
Financial Analysis of the District (Continued)
The following schedule provides a summary of the changes in net assets of the District and is
presented by category for comparison purposes.
Change in Net Assets
Governmental Revenues
Charges for services
Investment earnings
Total Revenues
Expenses
General government
Physical environment
Total Expenses
Change in Net Assets
Net Assets - Beginning of Year
Net Assets - End of Year
Governmental Activities
2012 2011
$ 269,427 $ 134,717
1,403 2,560
270,830 137,277
68,425
307,238
375,663
(104, 833)
14,640,593
$ 14,535,760
60,248
346,026
406,274
(268,997)
14, 909, 590
$ 14,640,593
The increase in charges for services is related to the budgeted increase in reserve funds at the
fund level.
i�
Cedar Hammock Community Development District
MANAGEMENT'S DISCUSSION AND ANALYSIS
For the Year Ended September 30, 2012
OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)
Capital Assets Activity
The following schedule provides a summary of the District's capital assets as of September 30,
2012 and 2011.
Description
Land and improvements
Buildings and improvements
Infrastructure
Equipment
Accumulated depreciation
Total Capital Assets (Net)
Governmental Activities
2012 2011
$ 10,991,512 $ 10,991,512
230,362 230,362
5,580,627 5,580,627
23,625 -
(2,642,151) (2,401,119)
$ 14,183,975 $ 14,401,382
During the year, $23,625 in equipment was added and depreciation expense was $241,032.
General Fund Budgetary Highlights
The budget exceeded actual government expenditures primarily because of a budgeted
increase in reserve funds.
There were no amendments to the September 30, 2012 budget.
Economic Factors and Next Year's Budaet
Cedar Hammock Community Development District does not expect any economic factors to
have any significant effect on the financial position or results of operations of the District in fiscal
year 2013.
Request for Information
The financial report is designed to provide a general overview of Cedar Hammock Community
Development District's finances for all those with an interest. Questions concerning any of the
information provided in this report or requests for additional information should be addressed to
the Cedar Hammock Community Development District, Severn Trent Management Services,
Inc., 210 N. University Drive, Suite 702, Coral Springs, Florida 33071.
-7-
Cedar Hammock Community Development District
STATEMENT OF NET ASSETS
September 30, 2012
ASSETS
Current Assets:
Cash and cash equivalents
Investments
Due from other governments
Total Current Assets
Non - Current Assets:
Capital Assets Not Being Depreciated
Land and improvements
Capital Assets Being Depreciated
Buildings and improvements
Infrastructure
Equipment
Less: accumulated depreciation
Total Non - Current Assets
Total Assets
LIABILITIES
Current Liabilities:
Accounts payable and accrued expenses
NET ASSETS
Invested in capital assets, net of related debt
Unrestricted
Total Net Assets
See accompanying notes to financial statements.
-8-
Governmental
Activities
$ 334,186
25,125
2,052
361,363
10,991,512
230,362
5,580,627
23,625
(2,642,151)
14, 545, 338
9,578
14,183,975
351,785
$ 14,535,760
Cedar Hammock Community Development District
STATEMENT OF ACTIVITIES
For the Year Ended September 30, 2012
Functions /Programs
Primary government
Governmental Activities
General government
Physical environment
Total Governmental Activities
Expenses
$ (68,425)
(307,238)
$ (375,663)
Program
Revenues
c:narges Tor
Services
$ 63,483
205, 944
$ 269,427
General revenues:
Interest earnings
Total General Revenues
Change in net assets
Net assets - October 1, 2011
Net assets - September 30, 2012
See accompanying notes to financial statements.
-9-
Net (Expense)
Revenue and
Changes in
Net Assets
Governmental
Activities
$ (4,942)
(101,294)
(106,236)
1,403
1,403
(104,833)
14,640,593
$ 14,535,760
Cedar Hammock Community Development District
BALANCE SHEET -
GENERALFUND
September 30, 2012
ASSETS
Cash and cash equivalents
Investments
Due from other governments
Total Assets
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable and accrued expenses
Fund balances
Assigned:
Roadways
Bulkheads
Lakes
Bridges
First quarter operations
Unassigned
Total Fund Balances
Total Liabilities and Fund Balances
See accompanying notes to financial statements.
-10-
$ 334,186
25,125
2,052
$ 361,363
$ 9,578
168,375
78,245
51,460
33,179
19,073
1,453
351,785
$ 361,363
Cedar Hammock Community Development District
RECONCILIATION OF TOTAL GOVERNMENTAL FUND BALANCES
TO NET ASSETS OF GOVERNMENTAL ACTIVITIES
September 30, 2012
Total governmental fund balances $ 351,785
Amounts reported for governmental activities in the statement of net assets
are different because:
Capital assets not being depreciated; land and improvements,
$10,991,512, used in governmental activities are not financial
resources and therefore, are not reported in the funds. 10,991,512
Capital assets being depreciated; building and improvements,
$230,362, infrastructure, $5,580,627, and equipment, $23,625,
net of accumulated depreciation, $(2,642,151), used in
governmental activities are not financial resources and therefore,
are not reported in the funds. 3,192,463
Net Assets of Governmental Activities
See accompanying notes to financial statements.
- 11 -
$ 14.535.760
Cedar Hammock Community Development District
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
GENERAL FUND
For the Year Ended September 30, 2012
Revenues
Special assessments
Interest earnings
Total Revenues
Expenditures
Current
General government
Physical environment
Capital outlay
Total Expenditures
Net change in fund balances
Fund Balances - October 1, 2011
Fund Balances - September 30, 2012
See accompanying notes to financial statements.
-12-
$ 269,427
1,403
270,830
68,425
66,206
23,625
158.256
112,574
239,211
$ 351,785
Cedar Hammock Community Development District
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES
AND CHANGE IN FUND BALANCES OF GOVERNMENTAL
FUNDS TO THE STATEMENT OF ACTIVITIES
For the Year Ended September 30, 2012
Net change in fund balances - total governmental funds $ 112,574
Amounts reported for governmental activities in the Statement of Activities are
different because:
Govemmental funds report capital outlays as expenditures. However,
in the Statement of Activities, the cost of those assets is allocated
over their estimated useful lives as depreciation expense. This is the
amount depreciation, $(241,032), exceeded capital outlay, $23,625,
in the current period. (217,407)
Change in Net Assets of Governmental Activities $ 104,833
See accompanying notes to financial statements.
-13-
Cedar Hammock Community Development District
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGE IN FUND BALANCES - BUDGET AND ACTUAL
GENERALFUND
For the Year Ended September 30, 2012
Revenues
Special assessments
Interest earnings
Total Revenues
Expenditures
Current
General government
Physical environment
Capital outlay
Total Expenditures
Net change in fund balances
Fund Balances - October 1, 2011
Fund Balances - September 30, 2012
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 268,467 $268,467 $269,427 $ 960
3,000 31000 1,403 (1,597)
271,467 271,467 270,830 (637)
63,964 63,964 68,425 (4,461)
207,503 207,503 66,206 141,297
- - 23,625 (23,625)
271,467 271,467 158,256 113,211
- 112,574 112,574
252,823 252,823 239,211 (13,612)
$ 2� 5 $25, 1 7 5 $ 98.962
See accompanying notes to financial statements.
-14-
Cedar Hammock Community Development District
NOTES TO FINANCIAL STATEMENTS
September 30, 2012
NOTE A - SUMMARY OF ACCOUNTING POLICIES
The financial statements of Cedar Hammock Community Development District (the "District ")
have been prepared in conformity with generally accepted accounting principles (GAAP) as
applied to governmental units. The Governmental Accounting Standards Board (GASB) is the
accepted standard - setting body for establishing governmental accounting and financial reporting
principles. The District's more significant accounting policies are described below.
1. Reporting Entity
The District was created on November 23, 1999, pursuant to the Uniform Community
Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the "Act "), by
ordinance of the Board of County Commissioners of Collier County, as a Community
Development District. The District was established for the purposes of financing and
managing the acquisition, construction, maintenance and operation of the infrastructure
necessary for community development within its jurisdiction. The District is authorized to
issue bonds for the purpose, among others, of financing, funding, planning, establishing,
acquiring, constructing or re- constructing, enlarging or extending, equipping, operating and
maintaining water management, water supply, sewer and waste water management, bridges
or culverts, district roads, landscaping, street lights and other basic infrastructure projects
within or outside the boundaries of the District. The District is governed by a five- member
Board of Supervisors who are elected for four year terms. The District operates within the
criteria established by Chapter 190.
As required by GAAP, these financial statements present the District (the primary
government) as a stand -alone government. The reporting entity for the District includes all
functions of government in which the District's Board exercises oversight responsibility.
Oversight responsibility includes, but is not limited to, financial interdependency, selection of
governing authority, designation of management, significant ability to influence operations
and accountability for fiscal matters.
Based upon the application of the above - mentioned criteria as set forth by the
Governmental Accounting Standards Board the District has identified no component units.
2. Measurement Focus and Basis of Accounting
The basic financial statements of the District are composed of the following:
• Government -wide financial statements
• Fund financial statements
Notes to financial statements
-15-
Cedar Hammock Community Development District
NOTES TO FINANCIAL STATEMENTS
September 30, 2012
NOTE A - SUMMARY OF ACCOUNTING POLICIES (CONTINUED)
2. Measurement Focus and Basis of Accounting (Continued)
a. Government -wide Financial Statements
Government -wide financial statements report all non - fiduciary information about the
reporting government as a whole. These statements include the governmental activities
of the primary government. The effect of interfund activity has been removed from these
statements.
Governmental activities which normally are supported by special assessments,
developer assessments, and interest, are reported separately from business -type
activities. Program revenues include charges for services and payments made by
parties outside of the reporting government's citizenry if that money is restricted to a
particular program. Program revenues are netted with program expenses in the
statement of activities to present the net cost of each program.
Amounts paid to acquire capital assets are capitalized as assets, rather than reported as
an expenditure. Proceeds of long -term debt are recorded as liabilities in the
government -wide financial statements, rather than as an other financial source.
Amounts paid to reduce long -term indebtedness of the reporting government are
reported as a reduction of the related liability, rather than as an expenditure.
b. Fund Financial Statements
The underlying accounting system of the District is organized and operated on the basis
of separate funds, each of which is considered to be a separate accounting entity. The
operations of each fund are accounted for with a separate set of self - balancing accounts
that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses,
as appropriate. Governmental resources are allocated to and accounted for in individual
funds based upon the purposes for which they are to be spent and the means by which
spending activities are controlled.
Fund financial statements for the primary government's governmental funds are
presented after the government -wide financial statements. These statements display
information about major funds individually.
-16-
Cedar Hammock Community Development District
NOTES TO FINANCIAL STATEMENTS
September 30, 2012
NOTE A — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
2. Measurement Focus and Basis of Accounting (Continued)
b. Fund Financial Statements (Continued)
Governmental Funds
The District classifies fund balance according to Governmental Accounting Standards
Board Statement 54 - Fund Balance Reporting and Governmental Fund Type
Definitions. The Statement requires the fund balance for governmental funds to be
reported in classifications that comprise a hierarchy based primarily on the extent to
which the government is bound to honor constraints on the specific purposes for which
amounts in those funds can be spent. The classifications include non - spendable,
restricted, committed, assigned and unassigned.
The District has a policy governing the fund balance classifications.
Nonspendable Fund Balance — This classification consists of amounts that cannot be
spent because they are either not in spendable form or are legally or contractually
required to be maintained intact.
Restricted Fund Balance — This classification includes amounts that can be spent only
for specific purposes stipulated by constitution, external resource providers, or through
enabling legislation.
Assigned Fund Balance — This classification consists of the Board of Supervisors' intent
to be used for specific purposes, but are neither restricted nor committed.
Unassigned Fund Balance — This classification is the residual classification for the
government's general fund and includes all spendable amounts not contained in the
other classifications. Unassigned fund balance is considered to be utilized first when an
expenditure is incurred for purposes for which amounts in any of those unrestricted fund
balance classifications could be used.
Fund Balance Spending Hierarchy - For all governmental funds except special revenue
funds, when restricted, committed, assigned, and unassigned fund balances are
combined in a fund, qualified expenditures are paid first from restricted or committed
fund balance, as appropriate, then assigned and finally unassigned fund balances.
-17-
Cedar Hammock Community Development District
NOTES TO FINANCIAL STATEMENTS
September 30, 2012
NOTE A — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
2. Measurement Focus and Basis of Accounting (Continued)
b. Fund Financial Statements (Continued)
Governmental Funds (Continued)
Expenditures generally are recorded when a liability is incurred, as under accrual
accounting. Interest associated with the current fiscal period is considered to be an
accrual item and so has been recognized as revenue of the current fiscal period.
Revenues are considered to be available when they are collected within the current
period or soon thereafter to pay liabilities of the current period.
Under the current financial resources measurement focus, only current assets and
current liabilities are generally included on the balance sheet. The reported fund
balance is considered to be a measure of "available spendable resources ".
Governmental fund operating statements present increases (revenues and other
financial sources) and decreases (expenditures and other financing uses) in net current
assets. Accordingly, they are said to present a summary of sources and uses of
"available spendable resources" during a period.
Because of their spending measurement focus, expenditure recognition for
governmental fund types excludes amounts represented by non - current liabilities. Since
they do not affect net current assets, such long -term amounts are not recognized as
governmental fund type expenditures or fund liabilities.
Amounts expended to acquire capital assets are recorded as expenditures in the year
that resources were expended, rather than as fund assets. The proceeds of long -term
debt are recorded as an other financing source rather than as a fund liability.
3. Basis of Presentation
a. Governmental Major Funds
General Fund - The General Fund is the District's primary operating fund. It accounts for
all financial resources of the general government.
-18-
Cedar Hammock Community Development District
NOTES TO FINANCIAL STATEMENTS
September 30, 2012
NOTE A — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
3. Basis of Presentation (Continued)
b. Non - current Governmental Assets /Liabilities
GASB Statement 34 requires that non - current governmental assets, such as land and
buildings, and non - current governmental liabilities, such as bonds payable, be reported
in the governmental activities column in the government -wide statement of net assets.
4. Assets, Liabilities, and Net Assets or Equity
a. Cash and Investments
Florida Statutes require state and local governmental units to deposit monies with
financial institutions classified as "Qualified Public Depositories," a multiple financial
institution pool whereby groups of securities pledged by the various financial institutions
provide common collateral from their deposits of public funds. This pool is provided as
additional insurance to the federal depository insurance and allows for additional
assessments against the member institutions, providing full insurance for public
deposits.
The District is authorized to invest in those financial instruments as established by
Section 218.415, Florida Statutes. The authorized investments consist of:
1. Direct obligations of the United States Treasury;
2. The Local Government Surplus Funds Trust or any intergovernmental investment
pool authorized pursuant to the Florida Interlocal Cooperative Act of 1969;
3. Interest- bearing time deposits or savings accounts in authorized qualified public
depositories;
4. Securities and Exchange Commission, registered money market funds with the
highest credit quality rating from a nationally recognized rating agency.
For purposes of the statement of cash flows, cash equivalents include time deposits,
certificates of deposit and all highly liquid debt instruments with original maturities of
three months or less and held in a qualified public depository as defined by Chapter
280.02, Florida Statutes.
b. Restricted Assets
Certain net assets of the District are classified as restricted assets on the statement of
net assets because their use is limited either by law through constitutional provisions or
enabling legislation; or by restrictions imposed externally by creditors. In a fund with
both restricted and unrestricted assets, qualified expenses are considered to be paid first
from restricted net assets and then from unrestricted net assets.
-19-
Cedar Hammock Community Development District
NOTES TO FINANCIAL STATEMENTS
September 30, 2012
NOTE A — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
4. Assets, Liabilities, and Net Assets or Equity (Continued)
c. Capital Assets
Capital assets, which include property, plant and equipment, are reported in the
applicable governmental or business -type activities column.
The District defines capital assets as assets with an initial, individual cost of $5,000 or
more and an estimated useful life in excess of one year. The valuation basis for all
assets is historical cost.
The costs of normal maintenance and repairs that do not add to the value of the asset or
materially extend its useful life are not capitalized_
Major outlays for capital assets and improvements are capitalized as projects are
constructed.
Depreciation of capital assets is computed and recorded by utilizing the straight -line
method. Estimated useful lives of the various classes of depreciable capital assets are
as follows:
Buildings 7 -39 years
Improvements other than buildings 20-40 years
Machinery and equipment 5 -10 years
d. Budgets
Budgets are prepared and adopted after public hearings for the governmental funds,
pursuant to Section 200.065 of the Florida Statutes. The District utilizes the same basis
of accounting for budgets as it does for revenues and expenditures in its various funds.
The legal level of budgetary control is at the fund level. All budgeted appropriations
lapse at year end. Formal budgets are adopted for the general and debt service funds.
As a result, deficits in the budget columns of the accompanying financial statements may
occur.
-20-
Cedar Hammock Community Development District
NOTES TO FINANCIAL STATEMENTS
September 30, 2012
NOTE B — RECONCILIATION OF GOVERNMENT -WIDE AND FUND FINANCIAL
STATEMENTS
1. Explanation of Differences Between the Governmental Fund Balance Sheet and the
Government -wide Statement of Net Assets
"Total fund balances" of the District's governmental funds, $351,785, differs from "net
assets" of governmental activities, $14,535,760, reported in the statement of net assets.
This difference primarily results from the long -term economic focus of the statement of net
assets versus the current financial resources focus of the governmental fund balance sheet.
The effect of the differences is illustrated below.
Capital related items
When capital assets (land, buildings, infrastructure and equipment that are to be used in
governmental activities) are purchased or constructed, the cost of those assets is reported
as expenditures in governmental funds. However, the statement of net assets included
those capital assets among the assets of the District as a whole.
Land and improvements
$ 10,991,512
Buildings and improvements
230,362
Infrastructure
5,580,627
Equipment
23,625
Accumulated depreciation
(2,642,151)
Total
14.183.975
2. Explanation of Differences Between the Governmental Fund Operating Statements
and the Statement of Activities
The "net change in fund balances" for government funds, $112,574, differs from the "change
in net assets" for governmental activities, $(104,833), reported in the statement of activities.
The differences arise primarily from the long -term economic focus of the statement of
activities versus the current financial resources focus of the governmental funds. The effect
of the differences is illustrated below.
Capital related items
When capital assets that are to be used in governmental activities are purchased or
constructed, the resources expended for those assets are reported as expenditures in
governmental funds. However, in the statement of activities, the costs of those assets is
allocated over their estimated useful lives and reported as depreciation expense. As a
result, fund balances decrease by the amount of financial resources expended, whereas net
assets decrease by the amount of depreciation expense charged for the year.
Depreciation expense
Capital outlay
Total
-21 -
$ (241,032)
23,625
$ (217.407)
Cedar Hammock Community Development District
NOTES TO FINANCIAL STATEMENTS
September 30, 2012
NOTE C - CASH AND INVESTMENTS
All deposits are held in qualified public depositories and are included on the accompanying
balance sheet as cash and investments.
Custodial_ Credit Risk - Deposits
Custodial credit risk is the risk that in the event of a bank failure, the District's deposits may not
be returned to it. The District does not have a formal deposit policy for custodial credit risk;
however, they follow the provisions of Chapter 280, Florida Statutes regarding deposits and
investments. As of September 30, 2012, the District's bank balance and carrying value was
$334,186. Exposure to custodial credit risk was as follows. The District maintains all deposits in
a qualified public depository in accordance with the provisions of Chapter 280, Florida Statutes,
which means that all deposits are fully insured by Federal Depositors Insurance or collateralized
under Chapter 280, Florida Statutes.
Investments
The District's investment policy allows management to invest funds in investments permitted
under Section 218.415, Florida Statutes, The District invested in a certificate of deposit with a
fair market value and book value of $25,125.
Concentration of Credit Risk
The District places no limit on the amount it may invest in any one issuer
NOTE D — SPECIAL ASSESSMENT REVENUES
Special assessment revenues recognized for the 2011 -2012 fiscal year were levied in October
2011. All taxes are due and payable on November 1 or as soon as the assessment roll is
certified and delivered to the Tax Collector. Per Section 197.162, Florida Statutes, discounts
are allowed for early payment at the rate of 4% in November, 3% in December, 2% in January,
and 1 % in February. Taxes paid in March are without discount.
All unpaid taxes become delinquent as of April 1. Virtually all unpaid taxes are collected via the
sale of tax certificates on, or prior to, June 1; therefore, there were no material taxes receivable
at fiscal year end.
-22-
Cedar Hammock Community Development District
NOTES TO FINANCIAL STATEMENTS
September 30, 2012
NOTE E - CHANGES IN FIXED ASSETS
Capital asset activity for the year ended September 30, 2012 was as follows:
Governmental Activities:
Capital assets, not being depreciated:
Land and Improvements
Total Capital Assets, Not Depreciated
Capital assets, being depreciated:
Building and improvements
Infrastructure
Equipment
Total Capital Assets, Being Depreciated
Less accumulated depreciation for:
Building and improvements
Infrastructure
Equipment
Total Accumulated Depredation
Total Capital Assets Depreciated, Net
Governmental Activities Capital Assets
Balance
October 1,
2011 Additions
$ 10,991,512 $ $
10,991,512
230,362
5,580,627 -
- 23,625
5,810,989 23,625
Deletions
Balance
September 30,
2012
$ 10,991,512
10,991,512
230,362
5,580,627
- 23,625
5,834,614
(118,458)
(11,518)
(129,976)
(2,282,661)
(225,183)
- (2,507,844)
(4,331)
- (4,331)
(2,401,119)
(241,032)
- (2,642,151)
3,409,870
(217,407)
- 3,192,463
$ 14,401,382
$ (217,407) $
- $ 14,183,975
Depreciation expense of $241,032 was charged to physical environment.
NOTE F - RISK MANAGEMENT
The government is exposed to various risks of loss related to torts; theft of, damage to and
destruction of assets; errors and omissions; and natural disasters for which the government
carries commercial insurance.
-23-
c�c Berger, Toombs, Elam,
- Gaines & Frank
Certified Pudic Accoun4irns Pl
600 Cilrus Avenue
Suite 200
Fort Pierce, Florida 34950
772/461 -6120 // 461-1155
FAX: 772/468 -9278
INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL
REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT
OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
To the Board of Supervisors
Cedar Hammock Community Development District
Collier County, Florida
We have audited the financial statements of Cedar Hammock Community Development District
as of and for the year ended September 30, 2012 and have issued our report thereon dated
May 14, 2013. We conducted our audit in accordance with auditing standards generally
accepted in the United States of America and the standards applicable to financial audits
contained in Government Auditing Standards, issued by the Comptroller General of the United
States.
Internal Control over Financial ReDortin
Management of Cedar Hammock Community Development District is responsible for
establishing and maintaining effective internal control over financial reporting. In planning and
performing our audit, we considered Cedar Hammock Community Development District's
internal control over financial reporting as a basis for designing our auditing procedures for the
purpose of expressing our opinion on the financial statements, but not for the purpose of
expressing an opinion on the effectiveness of Cedar Hammock Community Development
Distric's internal control over financial reporting. Accordingly, we do not express an opinion on
the effectiveness of Cedar Hammock Community Development District's internal control over
financial reporting.
A deficiency in Internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to
prevent, or detect and correct misstatements on a timely basis. A material weakness is a
deficiency, or combination of deficiencies, in internal control, such that there is a reasonable
possibility that a material misstatement of the entity's financial statements will not be prevented,
or detected and corrected on a timely basis.
Our consideration of internal control over financial reporting was for the limited purpose
described in the first paragraph of this section and was not designed to identify all deficiencies
In internal control over financial reporting that might be deficiencies, significant deficiencies or
material weaknesses. We did not identify any deficiencies in Internal control over financial
reporting that we consider to be material weaknesses, as defined above.
Fort Pierce / Stuart
.24.
Member AICPA Member AICPA Division For CPA Firms Member FICI'A
Private Companies Practice Section
Berger, Toombs, Elam,
Gaines & Frank
To the Board of Supervisors
Cedar Hammock Community Development District
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Cedar Hammock Community
Development District financial statements are free of material misstatement, we performed tests
of its compliance with certain provisions of laws, regulations, contracts and grant agreements,
noncompliance with which could have a direct and material effect on the determination of
financial statement amounts. However, providing an opinion on compliance with those
provisions was not an objective of our audit and, accordingly, we do not express such an
opinion. The results of our tests disclosed no instances of noncompliance or other matters that
are required to be reported under Government Auditing Standards.
This report is Intended solely for the information and use of the Board of Supervisors,
Management, others within the entity and the Auditor General of the State of Florida and is not
Intended to be and should not be used by anyone other than those specified parties.
3&dw,49) 104 ;
"-
Berger, Toombs, Elam, Gaines & Frank
Certified Public Accountants, PL
Fort Pierce, Florida
May 14, 2013
.25-
TBerger, Toombs, Elam,
Gaines & Frank
Certified Public AaounlaNS PL
600 Citrus Avenue
Suite 200
Fort Pierce, Florida 34950
772/461 -6120 // 461 -1155
FAX: 772/468 -9276
MANAGEMENT LETTER
To the Board of Supervisors
Cedar Hammock Community Development District
Collier County, Florida
We have audited the financial statements of the Cedar Hammock Community Development
District, Florida as of and for the year ended September 30, 2012, and have Issued our report
thereon dated May 14, 2013.
We conducted our audit in accordance with auditing standards generally accepted in the United
States; the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States and Chapter 10.550, Rules
of the Florida Auditor General. We have Issued our Report on Internal Control over Financial
Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance with Government Auditing Standards. Disclosures in that report
which is dated May 14, 2013 should be considered in conjunction with this Management Letter.
Additionally, our audit was conducted in accordance with the provisions of Chapter 10.550,
Rules of the Auditor General which governs the conduct of local entity audits performed in the
State of Florida.
The Rules of the Auditor General (Section 10.554(1)(i)1.) require that we address in the
Management Letter, if not already addressed in the auditor's report on compliance and internal
controls, whether or not recommendations made in the preceding annual financial report have
been followed. There were no recommendations made in the preceding audit report.
As required by the Rules of the Auditor General (Section 10.554(1)(1)2.) the scope of our audit
included a review of the provisions of Section 218.415, Florida Statutes regarding the
investment of public funds. In connection with our audit, we determined that Cedar Hammock
Community Development District complied with Section 218.415, Florida Statutes.
The Rules of the Auditor General (Section 10.554(1)(i)3, 4 and 5.) require that we address in the
Management Letter, if not already addressed in the auditor's report on compliance and internal
controls: improvements in financial management and violations of contracts or grant
agreements, fraud, illegal acts or abuse and deficiencies in internal control that are not
significant deficiencies, other inaccuracies, shortages, defalcations, and instances of fraud
discovered by, or that come to the attention of the auditor, Our audit did not discover any of the
above items that require to be disclosed.
Fort Pierce 1 Stuart
-26-
Member AICPA Member AICPA Division For CPA Firms Member FICPA
Private Companies Practice Secdon
VV Berger, Toombs, Elam,
Gaines & Frank
To the Board of Supervisors
Cedar Hammock Community Development District
As required by the Rules of the Auditor General (Section 10.554(1)(i)7.c and Section 10.556(7)),
we applied financial conditions assessment procedures. It is Management's responsibility to
monitor the entity's financial condition; our financial condition assessment was based in part on
the representations made by management and the review of the financial information provided
by the same.
Cedar Hammock Community Development District has not met one or more of the conditions
described in Section 218.503(1), Florida Statutes.
As required by the Rules of the Auditor General (Section 10.554(1)(i)7.b.), we determined that
the annual financial report for the District for the fiscal year ended September 30, 2012, filed
with the Department of Financial Services pursuant to Section 218.32(1)(a), Florida Statutes, is
in agreement with our annual financial audit report for the fiscal year ended September 30,
2012,
Our Management Letter is intended solely for the information and use of the Legislative Auditing
Committee, members of the Florida Senate and the Florida House of Representatives, the
Florida Auditor General, Federal and other granting agencies and applicable management and
is not intended to be and should not be used by anyone other than these specified parties.
t�j4WW4JO4' 9x a-
Berger, Toombs, Elam, Gaines & Frank
Certified Public Accountants PL
Fort Pierce, Florida
May 14, 2013
.27-
C
-o t' Berger, Toombs, Elam,
Gaines & Frank
Certified Public Accountants PL
600 Citrus Avenue
Suite 200
Fort Pierce, Florida 34950
772/461 -6120 // 461 -1155
FAX: 772/468 -9278
May 14, 2013
Board of Supervisors
Cedar Hammock Community Development District
Collier County, Florida
We are pleased to provide the following information related to our audit of Cedar Hammock
Community Development District for the year ended September 30, 2012 to assist you in your
oversight responsibility of the financial reporting process of the District.
Our responsibility under the auditing standards has been described to you in our engagement
letter dated March 27, 2012.
Management is responsible for the appropriateness of the accounting policies used by the
District. During the year, no significant new accounting policies were adopted nor were there
any changes in the existing accounting policies.
We did not discuss with Management, any significant or unusual transactions nor did we
discuss any alternative treatments available under generally accepted accounting policies
during the current audit period.
Any audit adjustments provided by Management or communicated to Management have been
reported to and agreed upon by Management. If you would like a detailed listing of all audit
adjustments for the current period, please contact us.
We encountered an immaterial uncorrected misstatement (see attachment) during the course of
our audit which was discussed with management and not adjusted.
There are no disagreements with Management over the application of significant accounting
principles, the basis for judgments made by Management on any significant matters, the scope
of the audit or significant disclosures to be included in the financial statements.
We are not aware of any consultations Management had with other accountants about
accounting or auditing matters.
Fort Pierce / Stuart
Member AICPA Member AICPA Division For CPA Firms Member FICPA
Private Companies Practice Section
CVQP Berger, Toombs, Elam,
4CW Gaines & Frank
Board of Supervisors
Cedar Hammock Community Development District
Page 2
There were no significant issues that were discussed during the course of the audit.
We did not encounter any difficulties in dealing with Management during the audit process.
Management has made certain written representations to us as part of the audit process.
Please contact us if you would like a copy of those representations.
This letter is intended solely for the information and use of the Board and Management and is
not intended to be and should not be used by anyone other than the intended parties. Please
contact J. W. Gaines should you have any questions concerning this letter. We greatly
appreciate the opportunity to be of service to Cedar Hammock Community Development
District.
w
Berger, Toombs, Elam, Gaines & Frank
Fort Pierce, Florida
May 14, 2013
CEDAR HAMMOCK
COMMUNITY DEVELOPMENT DISTRICT
Motion: Assigning Fund Balance as of 9/30/13
The Board hereby assigns the FY 2013 Reserves as follows:
Operating Reserve
$38,077
Reserves — Bridges
$58,180
Reserves - Bulkheads
$125,245
Reserves -Lakes
$70,460
Reserves- Roadways
$193,598