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Agenda 01/11/2021 Cedar Hammock Community Development District Board of Supervisors Norman Day,Chairman Justin Faircloth,District Manager Quentin Greeley,Vice Chairman Sam Marshall,District Engineer Fred Bally,Assistant Secretary Dan Cox,District Counsel John Martino,Assistant Secretary Gene T.Bolton,Assistant Secretary Meeting Agenda Cedar Hammock Clubhouse 8660 Cedar Hammock Boulevard,Naples, Florida January 11,2021 —2:00 p.m. 1. Roll Call 2. Approval of Agenda 3. Public Comments on Agenda Items 4. Organizational Matters A. Resolution 2021-01 Designating Officers 5. Old Business A. Bulkhead & Bridge Repair/Replacement Project Update 6. New Business A. FY 2022 Budget Discussion 7. Attorney's Report 8. Engineer's Report 9. Manager's Report A. Approval of the Minutes of December 14, 2020 Meeting B. Acceptance of the November 2020 Financial Report C. Follow Up Items 10. Supervisors Requests 11.Audience Comments 12. Adjournment Next scheduled meeting: February 8, 2021 (a: 2:00 p.m. °14\ 4. $ I 4•, 0 it. .,,,:, l'i- ;;(o-11.1::ci a r rtii5 4j— lit; .;\, PART OF THE USA TODAY NETWORK Published Daily Naples, FL 34110 CEDAR HAMMOCK COMMUN ITY 210 N UNIVERSITY DR#702 CORAL SPRINGS, FL 33071-7320 Affidavit of Publication STATE OF WISCONSIN COUNTY OF BROWN Before the undersigned they serve as the authority, personally appeared said legal clerk who on oath says that he/she serves as Legal Clerk of the Naples Daily News, a daily newspaper published at Naples, in Collier County, Florida; distributed in Collier and Lee counties of Florida; that the attached copy of the advertising was published in said newspaper on dates listed. Affiant further says that the said Naples Daily News is a newspaper published at Naples, in said Collier County, Florida, and that the said newspaper has heretofore been continuously published in said Collier County, Florida; distributed in Collier and Lee counties of Florida, each day and has been entered as second class mail matter at the post office in Naples, in said Collier County, Florida, for a period of one year next preceding the first publication of the attached copy of advertisement; and affiant further says that he has neither paid nor promised any person, or corporation any discount, rebate, commission or refund for the purpose of securing this advertisement for publication in the said newspaper. Published: 09/01/2020 Subscribed and sworn to before on September 1,2020: Notary,State of WI,County of Brown TARA MONDLOCH Notary Public State of Wisconsin ' My commission expires August 6,2021 Publication Cost:$381.50 Ad No:0004353016 Customer No: 1304217 PO#: Cedar Hammock fy2021 mtgs #of Affidavits 1 This is not an invoice Notice of Meetings Cedar Hammock Community Development Di5t60 The Board of Supervisors of the Cedar Hammock Com- munity Development District will hold their meetings for Fiscal Year 2021 at the Cedar Hammock Clubhouse', 86G0 Cedar Hammock Boulevard, Naples, Florida at 2:00 p.m.on the second Monday of the fol- lowing months: September 8,2020—special meeting of FY2020 October 12,2020 November 9,2020 December 14,2020 January 11,2021 February 8,2021 March 8,2021 April 12,2021 May 10,2021 *Please note that pursuant to Governor DeSantis' Executive Order 20-69 (as extended by Executive Order 20-IS0 and as it may be further extended or amended) relating to the COVID-19 public health emer- gency and to protect the pub- lic and follow the CDC guid- ance regarding social distancing, such public hear- ing and meeting may be held telephonically, virtually, or at another location in the event the above location is not available. Please check the District's website for the latest information: wsvw.cedarham mockcdd.com, Or you may contact the District Manage- ment Company, Inframark, LLC at 954-603-0033 at least two (2)calendar days prior to the date of the meetings or if you are hearing or speech im- paired, please contact the Florida Relay Service at 7-1-1 or (800) 955-8771 (TTY)1(800) 955-8770 (Voice) for aid in contacting the District Man- agement Company, for in- structions on how to join the meeting. The meetings are open to the public and will be conducted in accordance with the provi- sion of Florida Las', for Com- munity Development Districts. Meetings may be continued to a date, time and location to be specified on the record at the meetings. There may be occasions when one or more Supervisors will participate via telephone. In accordance with the provi- sions of the Americans with Disabilities Act, any person re- quiring special accommoda- tions at these meetings be- cause of a disability or physi- cal impairment should contact the District Management Company, Inframark, LLC at 954-603-0033 at least two (2) calendar days prior to the date of the meetings. If you are hearing or speech im- paired, please contact the Florida Relay Service at 7-1-1 or (S00) 955-8771 (TTY)i(800) 955-8770 (Voice) for aid in contacting the District Man- agement Company. Each person who decides to appeal any action taken at these meetings is advised that person will need a record of the proceedings and accord- ingly, the person may need to ensure a verhatim record of the proceedings is made, in- chvlinn tha tactimnn, and pvi- -•, dence upon which such ap- peal is to be based. Justin Faircloth District Manager Pub Date: Sept 1, 2020 #4353016 RESOLUTION 2021-2 A RESOLUTION DESIGNATING OFFICERS OF CEDAR HAMMOCK COMMUNITY DEVELOPMENT DISTRICT WHEREAS, the Board of Supervisors of Cedar Hammock Community Development District at a regular business meeting following the General Election on November 3, 2020 desires to appoint the below recited persons to the offices specified. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE CEDAR HAMMOCK COMMUNITY DEVELOPMENT DISTRICT: 1. The following persons were appointed to the offices shown, to wit: /V c,h-ic all Chairman G' Ue. )J2 6-''e-4--ky Vice Chairman Justin Faircloth Secretary Alan Baldwin Treasurer Stephen Bloom Assistant Treasurer Oa' to&ht. Assistant Secretary kre-)2 �...• / Assistant Secretary 3k" / /91 /7-i Assistant Secretary PASSED AND ADOPTED THIS, 11th DAY OF JANUARY 2021. ----I-44 its---e e-t ' -"-a._- ).,/ Chairman /ZL4"J2 ecretary Agenda Page 9 CEDAR HAMMOCK Community Development District Annual Operating and Debt Service Budget Fiscal Year 2021 Adopted Budget (Meeting 5/12/20) Prepared by: 6INFRAMARK IYtkA;TRi1:. `t_:4[ ..14,.Af.1t,lit/t '.t4,s1 ty CEDAR HAMMOCK Agenda Page 10 Community Development District Table of Contents Page OPERATING BUDGET General Fund Summary of Revenues, Expenditures and Changes in Fund Balances 1 -2 Budget Narrative 3-6 Bulkhead/Bridge Restoration Fund Summary of Revenues, Expenditures and Changes in Fund Balances 7 Amortization Schedule 8 Budget Narrative 9 Exhibit A-Allocation of Fund Balances 10 SUPPORTING BUDGET SCHEDULES 2020-2021 Non-Ad Valorem Assessment Summary 11 Agenda Page 11 CEDAR HAMMOCK Community Development District Budget Overview Fiscal Year 2021 Agenda Page 12 CEDAR HAMMOCK Community Development District Operating Budget Fiscal Year 2021 Agenda Page 13 CEDAR HAMMOCK Community Development District General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2021 Adopted Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU APR- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2018 FY 2019 FY 2020 MAR-2020 SEP-2020 FY 2020 FY 2021 REVENUES Interest-Investments $ 9,400 $ 17,191 $ 10,088 $ 11,753 10,753 22,506 10,088 Hurricane Irma FEMA Refund - $ 5,316 - $ 1,082 - - - Interest-Tax Collector 16.00 188 740.00 - - - Special Assmnts-Tax Collector 379,525 379,523 158,454 151,825 6,629 158,454 299,007 Special Assmnts-Other - - 281,622 271,546 10,076 281,622 - SpecialAssmnts-Discounts (14,175) (13,901) (17,603) (16,140) - (16,140) (11,960) Other Miscellaneous Revenus - 9,281 - - - - - TOTAL REVENUES 374,766 397,598 432,561 420,806 27,458 446,442 297,135 EXPENDITURES Administrative ProfServ-Engineering 19,768 38,061 30,000 19,648 19,648 39,296 30,000 ProfServ-Legal Services 1,593 14,201 4,249 12,130 12,130 24,260 4,249 ProfServ-Mgmt Consulting Sery 37,286 41,498 39,555 20,215 20,215 40,430 40,742 ProfServ-Property Appraiser 4,195 2,132 6,601 5,693 99 5,792 4,485 ProfServ-Special Assessment 2,855 7,941 3,029 13,029 - 13,029 8,938 ProfServ-Web Site Maintenance 637 656 676 282 394 676 696 Auditing Services 5,000 4,400 5,000 5,000 - 5,000 5,000 Postage and Freight 549 2,843 900 205 205 410 900 Insurance-General Liability 7,235 7,000 7,700 7,200 - 7,200 7,920 Printing and Binding 2,310 1,252 2,379 506 506 1,012 2,000 Legal Advertising 2,181 6,629 2,394 1,057 1,057 2,114 3,000 Misc-Bank Charges 653 380 700 - 350 350 700 Misc-Assessmnt Collection Cost (1,019) 3,540 8,802 8,049 133 8,182 5,980 Misc-Web Hosting 47 239 246 2,510 776 3,286 1,799 Office Supplies 33 28 400 - 50 50 100 Annual District Filing Fee 175 175 175 175 - 175 175 Total Administrative 83,498 130,975 112,806 95,699 55,563 151,261 116,683 Field ProfServ-Field Management 1,494 5,008 1,585 10,105 6,205 16,310 1,633 Contracts-Water Mgmt Services 7,200 7,200 7,200 3,000 4,200 7,200 7,200 Utility-Cameras 1,160 1,299 1,268 653 653 1,306 1,268 Electricity-Wells 4,324 2,190 3,000 2,690 2,690 5,380 4,866 Electricity-Aerator 1,598 1,358 2,000 893 893 1,786 2,000 R&M-Lake 2,167 3,113 3,000 - 1,500 1,500 3,000 R&M-Plant Replacement - 788 3,015 - 1,508 1,508 3,015 R&M-Bridges - - 8,000 - 8,000 8,000 5,000 R&M-Bulkheads - 8,000 8,000 4,000 4,000 8,000 5,000 Misc-Contingency 15,966 13,591 12,243 7,354 7,354 14,708 17,470 Capital Outlay - 12,015 9,944 - - - - Total Field 33,909 54,562 59,255 28,695 37,003 65,698 50,452 TOTAL EXPENDITURES 117,407 185,537 172,061 124,394 92,565 216,959 167,135 Annual Operating Budget Fiscal Year 2021 Page 1 Agenda Page 14 CEDAR HAMMOCK Community Development District General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2021 Adopted Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU APR- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2018 FY 2019 FY 2020 MAR-2020 SEP-2020 FY 2020 FY 2021 Reserve-Bridges 28,840 22,064 35,000 - 154,036 154,036 10,000 Reserve-Bulkheads 15,412 107,683 95,500 38,968 412,142 451,110 10,000 Reserve-Lakes 12,400 - 25,000 18,625 53,528 72,153 10,000 Reserve-Roadways 32,141 830 105,000 - 105,000 105,000 100,000 Total Reserves 88,793 130,577 260,500 57,593 724,706 782,299 130,000 TOTAL EXPENDITURES&RESERVES 206,200 316,114 432,561 181,987 817,271 999,258 297,135 Excess(deficiency)of revenues Over(under)expenditures 168,566 81,484 - 238,819 (789,813) (552,816) - OTHER FINANCING SOURCES(USES) TOTAL OTHER SOURCES(USES) $ - - - - - - - Net change in fund balance 168,566 81,484 - 238,819 (789,813) (552,816) - FUND BALANCE,BEGINNING 609,903 784,457 865,941 865,941 - 865,941 313,125 FUND BALANCE,ENDING $ 784,457 $ 865,941 $ 865,941 $ 1,104,760 $ (789,813) $ 313,125 $ 313,125 Annual Operating Budget Fiscal Year 2021 Page 2 CEDAR HAMMOCK Agenda Page 15 Community Development District General Fund Budget Narrative Fiscal Year 2021 REVENUES Interest Investments The District earns interest on the monthly average collected balance for their operating accounts, money market accounts and certificates of deposits. Special Assessments-Tax Collector The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year. Special Assessments-Discounts Per Section 197.162, Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments. EXPENDITURES Administrative Prof Service-Engineering The District's engineer will be providing general engineering services to the District, i.e., attendance and preparation for monthly board meetings, review invoices, etc. Prof Service-Legal Services The District's legal counsel will be providing general legal services to the District, i.e., attendance & preparation for monthly meetings, review operating& maintenance contracts, etc. Prof Service- Management Consulting Seri/ The District receives Management, Accounting and Administrative services as part of a Management Agreement with lnframark Infrastructure Management Services. These services are further outlined in Exhibit"A" of the Management Agreement. Prof Service-Property Appraiser The Property Appraiser provides the District with a listing of the legal description of each property parcel within the District boundaries, and the names and addresses of the owners of such property. The District reimburses the Property Appraiser for necessary administrative costs incurred to provide this service. Per the Florida Statutes, administrative costs shall include, but not be limited to,those costs associated with personnel,forms, supplies, data processing, computer equipment, postage, and programming. The budget for property appraiser costs was based on 1.5%of gross assessments. Annual Operating Budget Fiscal Year 2021 Page 3 CEDAR HAMMOCK Agenda Page 16 Community Development District General Fund Budget Narrative Fiscal Year 2021 EXPENDITURES Administrative(cont'd) Prof Service-Special Assessment The District's Collection Agent will be providing financials services which include the collection of prepaid assessments, maintenance of District's assessment roll and levying the annual operating and maintenance assessments. Prof Service—Web Site Maintenance Inframark Infrastructure Management Services oversees the District's email accounts and provides assistance to Campus Suite regarding the website as necessary. Auditing Services The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. Postage and Freight Mailing of agenda packages, overnight deliveries, correspondence, etc. Insurance-General Liability The District's General Liability & Public Officials Liability Insurance policy is with The Florida League of Cities, Inc. The Florida League of Cities, Inc. specializes in providing insurance coverage to governmental agencies. Printing& Binding Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc. Legal Advertising The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation. Misc- Bank Charges Bank analysis fees that are incurred during the year. Misc-Assessment Collection Costs The District reimburses the Tax Collector for necessary administrative costs. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District also compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted, whichever is greater. The budget for collection costs was based on a maximum of 2%of the anticipated assessment collections. Annual Operating Budget Fiscal Year 2021 Page 4 CEDAR HAMMOCK Agenda Page 17 Community Development District General Fund Budget Narrative Fiscal Year 2021 EXPENDITURES Administrative(cont'd) Misc—Web Hosting The District incurs expenses to maintain and renew their website domain and email accounts. Office Supplies Miscellaneous office supplies required for the preparation of agenda packages. Annual District Filing Fee The District is required to pay an annual fee of$175 to the Dept of Economic Opportunity Div. Field Services Prof Service—Field Management Inframark Infrastructure Management Services inspects the District's assets and provides two reports per year. Contracts—Water Mgmt Services Professional services for environmental permit compliance related to the water use permit. Utility—Cameras Costs associated with the District's gate cameras. Electricity-Wells FPL provides electrical services for the District's pumps at the following addresses: • 8684 Cedar Hammock Circle-Well#4 Meter KL35128 • 3639 Cedar Hammock Court—Well#6 Meter ACD4996 Electricity-Aerators FPL provides electrical services for the District's pumps at the following addresses: • 3826 Wax Myrtle Run —Meter ACD4234 • 8892 Cedar Hammock Blvd—Meter ACD4976 • 3766 Buttonwood Way—Meter ACD8387 R&M-Lake Repair and maintenance expenses related to lakes including washout repairs and erosion. R&M—Plant Replacement Replace landscape plantings at pumps. R&M—Bridges Repair and maintenance expenses related to the bridges. Annual Operating Budget Fiscal Year 2021 Page 5 CEDAR HAMMOCK Agenda Page 18 Community Development District General Fund Budget Narrative Fiscal Year 2021 EXPENDITURES Administrative(cont'd) R&M—Bulkheads Repair and maintenance expenses related to bulkheads. Misc-Contingency Any current year Field expenditure that may not have been provided for in the budget. Reserves: Reserve-Bridges Funds to be set aside for future bridge expenditures as determined by the BOS. Reserve- Bulkheads Funds to be set aside for future bulkhead expenditures as determined by the BOS. Reserve- Lakes Funds to be set aside for future lake expenditures as determined by the BOS. Reserve-Roadways Funds to be set aside for future roadway expenditures as determined by the BOS. Annual Operating Budget Fiscal Year 2021 Page 6 Agenda Page 19 CEDAR HAMMOCK Community Development District Bulkhead/Bridge Restoration Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year Adopted Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL BUDGET THRU APR- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2020 MAR-2020 SEP-2020 FY 2020 FY 2021 REVENUES Special Assmnts-Tax Collector $ 1,166,613 $ 1,124,871 41,742 1,166,613 $ 756,239 Special Assmnts-CDD Collected - - Special Assmnts-Discounts (46,665) (42,882) - (42,882) (30,250) TOTAL REVENUES 1,119,948 1,081,989 41,742 1,123,731 725,990 EXPENDITURES Administrative ProfServ-Property Appraiser 17,499 - 17,499 17,499 11,344 Misc-Assessmnt Collection Cost 23,332 21,385 835 22,220 15,125 Total Administrative 40,831 21,385 18,334 39,719 26,468 Field Capital Outlay Bulkhead and Bridges Project 1,079,117 548,478 1,830,639 2,379,117 699,522 Total Field 1,079,117 548,478 1,830,639 2,379,117 699,522 TOTAL EXPENDITURES 1,119,948 569,863 1,848,973 2,418,836 725,990 Excess(deficiency)of revenues Over(under)expenditures - 512,126 (1,807,231) (1,295,105) - OTHER FINANCING SOURCES(USES) Loan Proceeds - - 1,300,000 1,300,000 - - Contribution to(Use of)Fund Balance - - - TOTAL OTHER SOURCES(USES) - - 1,300,000 1,300,000 - Net change in fund balance - 512,126 (507,231) 4,895 - FUND BALANCE,BEGINNING - - (1,300,000) 4,895 FUND BALANCE,ENDING $ - $ 512,126 $ (1,807,231) $ 4,895 $ 4,895 Annual Operating Budget Fiscal Year 2021 Page 7 CEDAR HAMMOCK Agenda Page 20 Community Development District 002 General Fund AMORTIZATION SCHEDULE BRIDGE AND BULKHEAD CAPITAL PROJECT- LOAN Period Annual Debt Ending Principal Rate Interest Debt Service Service 11/1/2020 3.35% $ 33,030 $ 33,030 $ 699,522 5/1/2021 $ 644,564 3.35% $ 21,928 $ 666,492 11/1/2021 3.35% $ 11,055 $ 11,055 $ 677,547 5/1/2022 $ 655,436 3.35% $ 11,055 $ 666,492 $ 1,300,000 $ 77,068 $ 1,377,068 $ 1,377,068 .. . AnnualOperating Budget _....._ ...._...__�-______�.,_.._�....._.. - . _, ....._..�......,A._.,f,..- ,_._.a.o..,.� - - .._.....,..__. ,�,.._._u_.,a, Fiscal Year 2021 Page 8 CEDAR HAMMOCK Agenda Page 21 Community Development District Bulkhead and Bridge Restoration Fund Budget Narrative Fiscal Year 2021 REVENUES Special Assessments-Tax Collector The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year. Special Assessments-Discounts Per Section 197.162, Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments. EXPENDITURES Administrative Prof Service-Property Appraiser The Property Appraiser provides the District with a listing of the legal description of each property parcel within the District boundaries, and the names and addresses of the owners of such property. The District reimburses the Property Appraiser for necessary administrative costs incurred to provide this service. Per the Florida Statutes, administrative costs shall include, but not be limited to,those costs associated with personnel,forms, supplies, data processing, computer equipment, postage, and programming. The budget for property appraiser costs was based on 1.5%of gross assessments. Misc-Assessment Collection Costs The District reimburses the Tax Collector for necessary administrative costs. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District also compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted, whichever is greater. The budget for collection costs was based on a maximum of 2%of the anticipated assessment collections. Field Capital Outlay Bulkhead and Bridges Project Costs associated with the Bulkhead/Bridge Repair/Replacement Project. A loan for $1.3M, including interest and related costs,was taken out for this project. Annual Operating Budget Fiscal Year 2021 Page 9 CEDAR HAMMOCK Agenda Page 22 Community Development District General Fund Exhibit"A" Allocation of Fund Balances AVAILABLE FUNDS Amount Beginning Fund Balance-Fiscal Year 2021 $ 313,125 Net Change in Fund Balance-Fiscal Year 2021 Reserves-Fiscal Year 2021 Additions 130,000 Total Funds Available(Estimated)-FY21 443,125 ALLOCATION OF AVAILABLE FUNDS Assigned Fund Balance Operating Reserve-First Quarter Operating Capital 41,784 (.0 Reserves-Bridges Prior Year's Reserve Funding 119,036 FY 2020 Reserve Funding 35,000 Less Actual FY20 (154,036) FY 2021 Reserve Funding 10,000 10,000 Reserves-Bulkheads Prior Year's Reserve Funding 125,885 FY 2020 Reserve Funding 95,500 Plus Reserves re-assignment 1/30/20 229,725 Less Actual FY20 (451,110) FY 2021 Reserve Funding 10,000 10,000 Reserves-Lakes Prior Year's Reserve Funding 47,153 FY 2020 Reserve Funding 25,000 Less Actual FY20 (72,153) FY 2021 Reserve Funding 10,000 10,000 Reserves-Roadways Prior Year's Reserve Funding 229,725 FY 2020 Reserve Funding 105,000 Less Reserves Re-assignment as of 1/30/2020 (229,725) Less Actual FY20 (105,000) FY 2021 Reserve Funding 100,000 100,000 Subtotal 171,784 Total Allocation of Available Funds 171,784 Total Unassigned(undesignated)Cash $ 271,341 Notes (1)Represents approximately 3 months of operating expenditures less FY2021 budget reserves. Annual Operating Budget Fiscal Year 2021 Page 10 Agenda Page 23 CEDAR HAMMOCK Community Development District Supporting Budget Schedules Fiscal Year 2021 CEDAR HAMMOCK Agenda Page 24 Community Development District 2020-2021 Assessment Chart O&M Assessment Bridges and Bulkhead Project Total Total Prior Year FY 2021 FY 2020 , Percent FY 2021 FY 2020 Percent FY 2021 FY 2020 Percent Product Total Units Fund Fund Change Fund Fund Change Per Unit Per Unit Change Single Family 65 $374.23 $550.78 -32.1% $ 946.48 $1,460.09 -35.2% $1,320.71 $2,010.87 -34.3% 2-Story 228 $374.23 $550.78 -32.1% $ 946.48 $1,460.09 -35.2% $1,320.71 $2,010.87 -34.3% 4-Story 330 $374.23 $550.78 -32.1°/ $ 946.48 $1,460.09 -35.2% $1,320.71 $2,010.87 -34.3% Duplex 176 $374.23 $550.78 -32.1% $ 946.48 $1,460.09 -35.2% $1,320.71 $2,010.87 -34.3% 799 Annual Operating Budget Fiscal Year 2021 Page 11 Agenda Page 34 CEDAR HAMMOCK Community Development District Financial Report November 30, 2020 (Unaudited) Prepared by: ( INFRA .MAR K CEDAR HAMMOCK Agenda Page 35 Community Development District Table of Contents FINANCIAL STATEMENTS Pages Balance Sheet 1 General Fund 2-3 General Fund-Bulkhead/Bridge Restoration Fund 4 SUPPORTING SCHEDULES Non-Ad Valorem Special Assessments 5 Cash and Investment Report 6 Valley National Bank Reconciliation 7 Check Register 8 Agenda Page 36 CEDAR HAMMOCK Community Development District Financial Statements (Unaudited) November 30, 2020 CEDAR HAMMOCK Agenda Page 37 Community Development District Governmental Funds Balance Sheet November 30, 2020 GF-BULKHEAD AND BRIDGE GENERAL RESTORATION ACCOUNT DESCRIPTION FUND FUND TOTAL ASSETS Cash-Checking Account $ 722,327 $ - $ 722,327 Due From Other Funds - 454,205 454,205 Investments: Money Market Account 214,992 - 214,992 Deposits 1,359 - 1,359 TOTAL ASSETS $ 938,678 $ 454,205 $ 1,392,883 LIABILITIES Accounts Payable $ 7,718 $ 370,633 $ 378,351 Due To Other Funds 454,205 - 454,205 TOTAL LIABILITIES 461,923 370,633 832,556 FUND BALANCES Nonspendable: Deposits 1,359 - 1,359 Assigned to: Operating Reserves 108,140 - 108,140 Unassigned: 367,256 83,572 450,828 TOTAL FUND BALANCES $ 476,755 $ 83,572 $ 560,327 TOTAL LIABILITIES&FUND BALANCES $ 938,678 $ 454,205 $ 1,392,883 Page 1 CEDAR HAMMOCK Agenda Page 38 Community Development District General Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending November 30,2020 ANNUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE($) ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) REVENUES Interest-Investments $ 10,088 $ 1,681 $ 253 $ (1,428) Special Assmnts-Tax Collector 299,007 161,281 138,588 (22,693) Special Assmnts-Discounts (11,960) (6,451) (5,584) 867 TOTAL REVENUES 297,135 156,511 133,257 (23,254) EXPENDITURES Administration ProfServ-Engineering 30,000 5,000 2,290 2,710 ProfServ-Legal Services 4,249 708 953 (245) ProfServ-Mgmt Consulting Sery 40,742 6,790 6,790 - ProfServ-Property Appraiser 4,485 4,485 - 4,485 ProfServ-Special Assessment 8,938 - - - ProfServ-Web Site Maintenance 696 116 116 - Auditing Services 5,000 - - - Postage and Freight 900 150 14 136 Insurance-General Liability 7,920 7,920 7,200 720 Printing and Binding 2,000 333 1 332 Legal Advertising 3,000 500 - 500 Misc-Bank Charges 700 117 - 117 Misc-Assessmnt Collection Cost 5,980 3,225 2,660 565 Misc-Web Hosting 1,799 300 30 270 Office Supplies 100 17 - 17 Annual District Filing Fee 175 175 175 - Total Administration 116,684 29,836 20,229 9,607 Page 2 CEDAR HAMMOCK Agenda Page 39 Community Development District General Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending November 30,2020 ANNUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE($) ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) Field ProfServ-Field Management 1,633 272 2,953 (2,681) Contracts-Water Mgmt Services 7,200 1,200 1,200 - Utility-Cameras 1,268 211 120 91 Electricity-Wells 4,866 811 121 690 Electricity-Aerator 2,000 333 153 180 R&M-Lake 3,000 500 - 500 R&M-Plant Replacement 3,015 503 - 503 R&M Bulkheads 5,000 833 - 833 R&M-Bridges&Cart Paths 5,000 833 - 833 Misc-Contingency 17,469 2,911 - 2,911 Reserve-Bridges 10,000 1,667 - 1,667 Reserve-Bulkheads 10,000 1,667 - 1,667 Reserve-Lakes 10,000 1,667 - 1,667 Reserve-Roadways 100,000 16,667 - 16,667 Total Field 180,451 30,075 4,547 25,528 TOTAL EXPENDITURES 297,135 59,911 24,776 35,135 Excess(deficiency)of revenues Over(under)expenditures - 96,600 108,481 11,881 Net change in fund balance $ - $ 96,600 $ 108,481 $ 11,881 FUND BALANCE,BEGINNING(OCT 1,2020) 368,274 368,274 368,274 FUND BALANCE,ENDING $ 368,274 $ 464,874 $ 476,755 Page 3 CEDAR HAMMOCK Agenda Page 40 Community Development District Gf-Bulkhead And Bridge Restoration Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending November 30,2020 ANNUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE($) ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) REVENUES Interest-Investments $ - $ - $ - $ - Special Assmnts-Tax Collector 756,239 246,611 350,509 103,898 Special Assmnts-Discounts (30,250) (9,865) (14,124) (4,259) Other Miscellaneous Revenues - - 15,900 15,900 TOTAL REVENUES 725,989 236,746 352,285 115,539 EXPENDITURES Administration ProfServ-Property Appraiser 11,343 11,343 - 11,343 Misc-Assessmnt Collection Cost 15,124 4,931 6,728 (1,797) Total Administration 26,467 16,274 6,728 9,546 Field Capital Outlay-Bulkheads 699,522 116,587 373,992 (257,405) Total Field 699,522 116,587 373,992 (257,405) Debt Service Operating Loan Repayment - - 3,475 (3,475) Total Debt Service - - 3,475 (3,475) TOTAL EXPENDITURES 725,989 132,861 384,195 (251,334) Excess(deficiency)of revenues Over(under)expenditures - 103,885 (31,910) (135,795) Net change in fund balance $ - $ 103,885 $ (31,910) $ (135,795) FUND BALANCE,BEGINNING(OCT 1,2020) 115,482 115,481 115,482 FUND BALANCE,ENDING $ 115,482 $ 219,366 $ 83,572 Page 4 Agenda Page 41 CEDAR HAMMOCK Community Development District Supporting Schedules November 30, 2020 CEDAR HAMMOCK Agenda Page 42 Community Development District Non-Ad Valorem Special Assessments (Collier County Tax Collector-Monthly Collection Distributions) For the Fiscal Year Ending September 30, 2021 ALLOCATION Bulkhead/Bridge Date Net Amount (Discount) Commission Amount General Fund Restoration Received Received Amount Amount Received Assessments Assessments Assessments Levied For FY 2021 $ 1,055,247 $ 299,010 $ 756,238 Allocation % 100% 28% 72% 10/29/20 $ 10,209 $ 584 $ 208 $ 11,001 $ 3,117 $ 7,884 11/13/20 6,213 264 127 6,604 1,871 4,732 11/17/20 209,986 8,928 4,285 223,200 63,245 159,955 11/19/20 233,594 9,932 4,767 248,293 70,355 177,938 TOTAL $ 460,002 $ 19,708 $ 9,388 $ 489,098 $ 138,588 $ 350,509 % COLLECTED 46% 46% 46% TOTAL OUTSTANDING $ 566,149 $ 160,421 $ 405,728 Report Date: 12/28/2020 Page 5 CEDAR HAMMOCK Agenda Page 43 Community Development District All Funds Cash and Investment Report November 30, 2020 General Fund Account Name Bank Name Investment Type Maturity Yield Balance Checking Account-Operating Valley National Bank Gov't Interest Checking n/a 0.25% 722,327 Money Market Account BankUnited Public Funds MMA n/a 0.30% 214,992 Total $ 937,319 Report Date: 12/28/2020 Page 6 Cedar Hammock CDD Agenda Page 44 Bank Reconciliation Bank Account No. 2555 Valley National Bank GF Statement No. 11/20 Statement Date 11/30/2020 G/L Balance(LCY) 722,326.69 Statement Balance 722,326.69 G/L Balance 722,326.69 Outstanding Deposits 0.00 Positive Adjustments 0.00 Subtotal 722,326.69 Subtotal 722,326.69 Outstanding Checks 0.00 Negative Adjustments 0.00 Differences 0.00 Ending G/L Balance 722,326.69 Ending Balance 722,326.69 Difference 0.00 Posting Document Document Cleared Date Type No. Description Amount Amount Difference Page 7 O O 0 O O M O O u) 0 N- 0) a CO co O 0 O N • O .O 0Lo O N CO CON Co co O) O N N N. 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