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Agenda 04/12/2021
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 April 12, 2021 —2:00 p.m. 1. Roll Call 2. Approval of Agenda 3. Public Comments on Agenda Items 4. Old Business A. Bulkhead&Bridge Repair/Replacement Project Update B. Review of the FY2022 Approved Tentative Budget 5. New Business A. Bastos Pavers Estimate 16156 B. Roadway Marking Discussion 6. Attorney's Report 7. Engineer's Report 8. Manager's Report A. Approval of the Minutes of March 8, 2021 Meeting B. Acceptance of the February 2021 Financial Report C. Acceptance of the FY2020 Audit Report presented by Berger, Toombs, Elam, Gaines& Frank D. Follow Up Items 9. Supervisors Requests 10. Audience Comments 11. Adjournment Next scheduled meeting: May 10, 2021 @ 2:00 p.m. '4\ .., Nt: 1- 'al .C.15 4' Cii 11 A, tril,5 II 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 I TARA MONDLOCF-I 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 Affidavits1 This is not an invoice Notice of Meetings Cedar Hammock Community Development District 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, Flo:ida 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 20-150 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: www.cedarham mockcdd.com, Or you may contact the District Manage- ment Company, lnframark, 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)l(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 Law 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 (800) 955.8771 CfTY)4800) 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 verbatim record of the proceedings is made, in- el,,5nn ti,a tactimnmr and avi- dence7 upon whith such ap- peal i5 to be based. Justin Fairdoth District Manager Pub Date: Sept 1, 2020 14353016 • Agenda Package 6 CEDAR HAMMOCK Community Development District Annual Operating and Debt Service Budget Fiscal Year 2022 Modified Approved Tentative Budget (Meeting 4/12/21) Prepared by: 6INFRAMARK INFRASTRUCTURE MANAGEMENT SERVICES Agenda Package 7 CEDAR HAMMOCK 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 2021-2022 Non-Ad Valorem Assessment Summary 11 Agenda Package 8 CEDAR HAMMOCK Community Development District Operating Budget Fiscal Year 2022 Agenda Package 9 CEDAR HAMMOCK Community Development District General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2022 Modified Approved Tentative Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU MAR- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2019 FY 2020 FY 2021 FEB-2021 SEP-2021 FY 2021 FY 2022 REVENUES Interest-Investments $ 17,191 $ 15,583 $ 10,088 $ 1,151 671 1,822 5,088 Hurricane Irma FEMA Refund 12,622 1,082 - - - - - Interest-Tax Collector 188 1,082 - 90 900 990 - Special Assmnts-Tax Collector 379,523 157,459 299,007 286,649 12,358 299,007 406,897 Special Assmnts-Other - 281,623 - - - - - Special Assmnts-Discounts (13,901) (16,029) (11,960) (11,101) (494) (11,595) (16,276) Other Miscellaneous Revenus 1,975 17,875 - - - - - TOTAL REVENUES 397,598 458,675 297,135 276,789 13,435 290,224 395,709 EXPENDITURES Administrative ProfServ-Engineering 38,061 22,048 30,000 3,961 26,039 30,000 5,000 ProfServ-Legal Services 14,201 7,494 4,249 1,408 2,841 4,249 2,000 ProfServ-Mgmt Consulting Sery 41,498 39,993 40,742 16,976 23,766 40,742 41,965 ProfServ-Property Appraiser 2,132 5,693 4,485 - 4,485 4,485 6,103 ProfServ-Special Assessment 7,941 13,029 8,938 8,120 - 8,120 8,214 ProfServ-Web Site Maintenance 656 587 696 290 406 696 717 Auditing Services 4,400 5,000 5,000 - 5,000 5,000 5,000 Postage and Freight 2,843 933 900 107 793 900 900 Insurance-General Liability 7,000 7,200 7,920 7,200 - 7,200 8,712 Printing and Binding 1,252 550 2,000 164 1,003 1,167 1,200 Legal Advertising 6,629 4,313 3,000 - 3,000 3,000 2,500 Misc-Bank Charges 380 - 700 - 408 408 700 Misc-Assessmnt Collection Cost 3,540 6,525 5,980 5,511 247 5,758 8,138 Misc-Web Hosting 239 3,316 1,799 632 1,239 1,871 2,000 Office Supplies 28 2,800 100 - 100 100 100 Annual District Filing Fee 175 175 175 175 - 175 175 Total Administrative 130,975 119,656 116,684 44,544 69,327 113,870 93,424 Field ProfServ-Field Management 5,008 5,116 1,633 5,737 8,032 13,769 1,682 Project Mgmt Fees - - - - - - 2,500 Contracts-Water Mgmt Services 7,200 7,200 7,200 3,000 4,200 7,200 7,200 Utility-Cameras 1,299 1,311 1,268 540 765 1,268 1,268 Electricity-Wells 2,190 3,177 4,866 2,042 2,824 4,866 4,866 Electricity-Aerator 1,358 1,163 2,000 565 1,435 2,000 4,000 R&M-Lake 3,113 2,940 3,000 - 3,000 3,000 3,000 R&M-Plant Replacement 788 - 3,015 - 3,015 3,015 500 Annual Operating Budget Fiscal Year 2022 Page 1 Agenda Package 10 CEDAR HAMMOCK Community Development District General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2022 Modified Approved Tentative Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU MAR- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2019 FY 2020 FY 2021 FEB-2021 SEP-2021 FY 2021 _ FY 2022 R&M-Bulkheads 8,000 2,575 5,000 - 5,000 5,000 5,000 R&M-Bridges - - 5,000 - 5,000 5,000 5,000 Misc-Contingency 13,591 7,774 17,469 - 17,469 17,469 17,469 Capital Outlay 12,015 23,130 - 8,820 - 8,820 90,000 Total Field 54,562 54,386 50,451 20,704 50,740 71,407 142,485 TOTAL EXPENDITURES 185,537 174,042 167,135 65,248 120,066 185,277 235,909 Reserve-Bridges 22,064 154,036 10,000 - 10,000 10,000 19,950 Reserve-Irrigaton - - - - - - 19,950 Reserve-Bulkheads 107,683 451,110 10,000 - 10,000 10,000 19,950 Reserve-Lakes - 72,153 10,000 - 10,000 10,000 19,950 Reserve-Roadways 830 105,000 100,000 - 100,000 100,000 80,000 Total Reserves 130,577 782,299 130,000 - 130,000 130,000 159,800 TOTAL EXPENDITURES&RESERVES 316,114 956,341 297,135 65,248 250,066 315,277 395,709 Excess(deficiency)of revenues Over(under)expenditures 81,484 (497,666) - 211,541 (236,631) (25,053) - OTHER FINANCING SOURCES(USES) TOTAL OTHER SOURCES(USES) $ - - - - - - - Net change in fund balance 81,484 (497,666) - 211,541 (236,631) (25,053) - FUND BALANCE,BEGINNING 784,456 865,940 368,274 368,274 - 368,274 343,221 FUND BALANCE, ENDING $ 865,940 $ 368,274 $ 368,274 $ 579,815 $ (236,631) $ 343,221 $ 343,221 Annual Operating Budget Fiscal Year 2022 Page 2 CEDAR HAMMOCK Agenda Package 11 Community Development District General Fund Budget Narrative Fiscal Year 2022 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 Sery The District receives Management, Accounting and Administrative services as part of a Management Agreement with Inframark 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 2022 Page 3 CEDAR HAMMOCK Agenda Package 12 Community Development District General Fund Budget Narrative Fiscal Year 2022 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 fees that may be 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 2022 Page 4 CEDAR HAMMOCK Agenda Package 13 Community Development District General Fund Budget Narrative Fiscal Year 2022 EXPENDITURES Administrative(coned) 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. Project Management Fees Expenses incurred from the field manager for the bulkhead/bridges and aeration project. 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. Annual Operating Budget Fiscal Year 2022 Page 5 CEDAR HAMMOCK Agenda Package 14 Community Development District General Fund Budget Narrative Fiscal Year 2022 EXPENDITURES Field Services(cont'd) R&M—Plant Replacement Replace landscape plantings at pumps. R&M—Bridges Repair and maintenance expenses related to the bridges. 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. Capital Outlay For expenses incurred for the Aeration Project, as well as the replacement of the decks for bridges 9 & 18. Reserves: Reserve-Bridges Funds to be set aside for future bridge expenditures as determined by the BOS. Reserve-Irrigation 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 2022 Page 6 Agenda Package 15 CEDAR HAMMOCK Community Development District Bulkhead/Bridge Restoration Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2022 Modified Approved Tentative Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU MAR- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2020 FY 2021 FEB-2021 SEP-2021 FY 2021 FY 2022 REVENUES Special Assmnts-Tax Collector $ 1,166,613 $ 756,239 $ 724,976 31,263 756,239 $ 525,829 Special Assmnts-Discounts (42,589) (30,250) (28,076) (1,251) (29,327) (21,033) Other Miscellaneous Revenus - - 15,900 - 15,900 - TOTAL REVENUES 1,124,024 725,989 712,800 30,012 742,812 504,795 EXPENDITURES Administrative ProfServ-Property Appraiser 18,515 11,343 - 11,343 11,343 7,887 Misc-Assessmnt Collection Cost 17,336 15,124 13,938 625 14,563 10,517 Total Administrative 35,851 26,467 13,938 11,968 25,906 18,404 Field Capital Outlay Bulkhead and Bridges Project 1,627,526 699,522 603,410 - 603,410 - Total Field 1,627,526 699,522 603,410 - 603,410 - Debt Service Operating Loan Repayment - - 183,475 566,420 749,895 578,891 Total Debt Service - - 183,475 566,420 749,895 578,891 TOTAL EXPENDITURES 1,663,377 725,989 800,823 578,388 1,379,211 597,295 Excess(deficiency)of revenues Over(under)expenditures (539,353 - (88,023) (548,376) (636,399) (92,500) OTHER FINANCING SOURCES(USES) Loan/Note Proceeds 654,835 - 645,165 - 645,165 - Contribution to(Use of)Fund Balance - - - - - _ TOTAL OTHER SOURCES(USES) 654,835 - 645,165 - 645,165 - Net change in fund balance 115,482 - 557,142 (548,376) 8,766 (92,500) FUND BALANCE,BEGINNING - 115,482 115,482 - 115,482 124,248 FUND BALANCE,ENDING $ 115,482 $ 115,482 $ 672,624 $ (548,376) $ 124,248 $ 31,748 - _.. a_ Annual Operating Budget _-__ .. . ,_ _e_ __, -_ , _,._. a,_..�.,.-. Fiscal Year 2022 Page 7 CEDAR HAMMOCK Agenda Package 16 Community Development District 002 General Fund AMORTIZATION SCHEDULE BRIDGE AND BULKHEAD CAPITAL PROJECT-LOAN Period Extraordinary Annual Debt Ending Principal Redemption Rate Interest Debt Service Service 11/1/2020 $180,000 3.35% $ 33,030 $ 33,030 5/1/2021 $ 560,000 3.35% $ 18,891 $ 578,891 $ 611,921 11/1/2021 3.35% $ 9,446 $ 9,446 5/1/2022 $ 560,000 3.35% $ 9,446 $ 569,446 $ 578,891 $ 1,120,000 $ 180,000 $ 70,812 $ 1,190,812 $ 1,190,812I Annual Operating Budget Fiscal Year 2022 Page 8 CEDAR HAMMOCK Agenda Package 17 Community Development District Bulkhead and Bridge Restoration Fund Budget Narrative Fiscal Year 2022 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 in FY21. Annual Operating Budget Fiscal Year 2022 Page 9 CEDAR HAMMOCK Agenda Package 18 Community Development District General Fund Exhibit"A" Allocation of Fund Balances AVAILABLE FUNDS Amount Beginning Fund Balance-Fiscal Year 2022 $ 339,892 Net Change in Fund Balance-Fiscal Year 2022 - Reserves-Fiscal Year 2022 Additions 159,800 Total Funds Available(Estimated)-FY22 499,692 ALLOCATION OF AVAILABLE FUNDS Assigned Fund Balance Operating Reserve-First Quarter Operating Capital 58,977 (1) Reserves-Bridges Prior Year's Reserve Funding - FY 2022 Reserve Funding 19,950 19,950 Reserves-Bulkheads Prior Year's Reserve Funding - FY 2022 Reserve Funding 19,950 19,950 Reserves-Irrigation FY2022 Reserve Funding 19,950 19,950 Reserves-Lakes Prior Year's Reserve Funding - FY 2022 Reserve Funding 19,950 19,950 Reserves-Roadways Prior Year's Reserve Funding - FY 2022 Reserve Funding 80,000 80,000 Subtotal 218,777 Total Allocation of Available Funds 218,777 Total Unassigned(undesignated)Cash $ 280,915 Notes (1)Represents approximately 3 months of operating expenditures. Annual Operating Budget Fiscal Year 2022 Page 10 Agenda Package 19 CEDAR HAMMOCK Community Development District Supporting Budget Schedules Fiscal Year 2022 CEDAR HAMMOCK Agenda Package 20 Community Development District 2021-2022 Assessment Chart O&M Assessment Bridges and Bulkhead Project Total Total Prior Year FY 2022 FY 2021 Percent FY 2022 FY 2021 Percent FY 2022 FY 2021 Percent Product Total Units Fund Fund Change Fund Fund Change Per Unit Per Unit Change Single Family 65 $509.26 $374.23 36.08% $ 658.11 $ 946.48 -30.5% $1,167.37 $1,320.71 -11.6% 2-Story 228 $509.26 $374.23 36.08% $ 658.11 $ 946.48 -30.5% $1,167.37 $1,320.71 -11.6% 4-Story 330 $509.26 $374.23 36.08% $ 658.11 $ 946.48 -30.5% $1,167.37 $1,320.71 -11.6% Duplex 176 $509.26 $374.23 36.08% $ 658.11 $ 946.48 -30.5% $1,167.37 $1,320.71 -11.6% 799 Annual Operating Budget Fiscal Year 2022 Page 11 Agenda Package 23 Bastos Pavers Inc 3251 Old Metro Parkway FORT MYERS, FL 33916 (239) 275-7283 - - bastos@a bastospavers.com http://bastospavers.com Estimate ADDRESS SHIP TO ESTIMATE# 16156 Norman Day Norman Day DATE 03/16/2021 CEDAR HAMMOCK GOLF CEDAR HAMMOCK GOLF CLUB CLUB 8660 Cedar Hammock Blvd 8660 Cedar Hammock Blvd Naples, FL, 34112 Naples, FL, 34112 DATE ACTIVITY OTY RATE AMOUNT Services 1 4,500.00 4,500.00 Remove paver section on the front of the exit gate and dig and install 12"of base rock compact re-level and re- set the pavers re-use the same pavers . 24'x18' Total:432 Sq.Ft (We will remove pavers from a different location to replace the broken pavers on this area. ) TOTAL $4,500.00 Accepted By Accepted Date Depending on the project, a 40% deposit will be required. Price is for Check or cash payment. Credit card payments are subject to a surcharge fee. Agenda Package 24 ADDENDUM TO AGREEMENT This ADDENDUM TO AGREEMENT ("Addendum") dated as of the 18`h day of March, 2021 by and between the Cedar Hammock Community Development District ("DISTRICT")and Bastos Pavers, Inc. ("CONTRACTOR"). (DISTRICT and CONTRACTOR being collectively referred to herein as the"Parties"). WHEREAS, the Parties entered into a paver repair agreement ("Agreement") on March 18, 2021; and WHEREAS, the DISTRICT is a "public agency" pursuant to Section 119.0701(1)(b), Florida Statutes, and Chapter 119, Florida Statutes, provides for certain contract requirements related to public records in each public agency contract for services. WHEREAS, the parties desire to incorporate certain provisions relating to public records together with other supplemental contract provisions. NOW THEREFORE, the Parties hereby agree as follows: 1. CONTRACTOR agrees to comply with Florida's public records law by keeping and maintaining public records that ordinarily and necessarily would be required by the DISTRICT in order to perform the services under the Agreement by doing the following: upon the request of the DISTRICT's Custodian of Public Records, providing the DISTRICT with copies of or access to public records on the same terms and conditions that the DISTRICT would provide the records and at a cost that does not exceed the cost provided by Florida law;by ensuring that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except as authorized by law for the duration of the term of this Agreement and following completion of the Agreement if the CONTRACTOR does not transfer the records to the DISTRICT; and upon completion of the Agreement by transferring, at no cost, to the DISTRICT all public records in possession of the CONTRACTOR or by keeping and maintaining all public records required by the DISTRICT to perform the services. If the CONTRACTOR transfers all public records to the DISTRICT upon completion of the Agreement, the CONTRACTOR shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. If the CONTRACTOR keeps and maintains public records upon completion of the Agreement, the CONTRACTOR shall meet all applicable requirements for retaining public records. All records stored electronically must be provided to the DISTRICT, upon request from the DISTRICT's Custodian of Public Records, in a format that is compatible with the information technology systems of the DISTRICT. IF THE CONTRACTOR HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE CONTRACTOR'S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS WORK ASSIGNMENT, CONTACT THE DISTRICT'S Agenda Package 25 CUSTODIAN OF PUBLIC RECORDS SANDRA DEMARCO, AT INFRAMARK INFRASTRUCTURE MANAGEMENT SERVICES 210 N. UNIVERSITY DRIVE SUITE 702 CORAL SPRINGS, FL 33071, 954-603-0033 EXT. 40532, OR SANDRA.DEMARCO@INFRAMARK.COM. 2. "Beginning January 1,2021,every public employer,contractor,and subcontractor shall register with and use the E-Verify system to verify the work authorization status of all newly hired employees. A public employer,contractor,or subcontractor may not enter into a contract unless each party to the contract registers with and uses the E-Verify system." A. As a contractor doing business with a CDD,you must enroll your company in the E-Verify system, at: https://www.e-verify.gov/ in order to be able to contract to provide services with the CDD. B. On a going forward basis, you must include a provision regarding E-Verify in all contracts. Below is a generic draft of such language. This may need to be tailored for your contracts. C. If you contract with sub-contractors for work done for the CDD,you are responsible to verify your subcontractors are utilizing the E-Verify system per the conditions noted below. 3. 2. Contractor or any subcontractor performing the work described in this Contract shall maintain throughout the term of this Contract the following insurance: (a) Workers' Compensation coverage, in full compliance with Florida statutory requirements, for all employees of Contractor who are to provide a service under this Contract, as required under applicable Florida Statutes AND Employer's Liability with limits of not less than $1,000,000.00 per employee per accident, $500,000.00 disease aggregate, and$100,000.00 per employee per disease. (b) Commercial General Liability"occurrence" coverage in the minimum amount of $1,000,000 combined single limit bodily injury and property damage each occurrence and $2,000,000 aggregate, including personal injury, broad form property damage, products/completed operations, broad form blanket contractual and $100,000 fire legal liability. (c) Automobile Liability Insurance for bodily injuries in limits of not less than $1,000,000 combined single limit bodily injury and for property damage, providing coverage for any accident arising out of or resulting from the operation, maintenance, or use by Contractor of any owned, non-owned, or hired automobiles, trailers, or other equipment required to be licensed. Said insurance shall also to include insured/underinsured motorists coverage in the minimum amount of$100,000 when there are owned vehicles. 2 Agenda Package 26 District, its staff, consultants, agents and supervisors shall be named as an additional insured on all policies required (excluding worker's compensation). Contractor shall furnish District with the Certificate of Insurance evidencing compliance with this requirement. No certificate shall be acceptable to District unless it provides that any change or termination within the policy periods of the insurance coverage, as certified, shall not be effective within thirty(30)days of prior written notice to District. Insurance coverage shall be from a reputable insurance carrier acceptable to District, who licensed to conduct business in the State of Florida, and such carrier shall have a Best's Insurance Reports rating of at least A-VII. If Contractor fails to have secured and maintained the required insurance, District has the right(without any obligation to do so, however), to secure such required insurance in which event, Contractor shall pay the cost for that required insurance and shall furnish, upon demand, all information that may be required in connection with District's obtaining the required insurance. 4. This Contract shall be construed, governed and interpreted in accordance with the laws of the State of Florida. 5. In the event of litigation arising out of either party's obligations under this Contract,sole and exclusive venue shall lie in Collier County, Florida. 6. Invoices shall be paid within 30 days from receipt of valid invoices and work acceptance. 7. All other provisions to the Agreement shall remain in full force and effect. IN WITNESS WHEREOF,the Parties have caused this Addendum to be executed by their respective duly authorized officers as of the date first above written. District: CEDAR HAMMOCK COMMUNITY DEVELOPMENT DISTRICT By: Contractor: BASTOS PAVERS, INC. By: 3 Agenda Package 27 From: Bastos@bastospavers.com<bastos@bastospavers.com> Sent:Tuesday, March 23, 2021 11:17 AM To: Faircloth,Justin <justin.faircloth@inframark.com> Subject: Re: CHCDD-Bastos Pavers Inc Estimate 16156 Justin, I spoke with our director for the addendum agreement you want us to sign. There are 2 things in the agreement that need to be changed: 1. The insurance amounts need to be adjusted to what we have under our coverage,which is what we are required to have for the work we do 2. Invoices should be paid within 15 days of work being completed, not 30 days. I have attached our license, insurance and W9. Once these have been changed,then we can sign the agreement and send you our contract to sign. Once we receive the signed contract and deposit, we can schedule the project to be completed. Thank you, Danielle From: Faircloth, Justin <justin.faircloth@inframark.com> Date: Thursday, March 18, 2021 at 4:49 PM To: Bastos@bastospavers.com <bastos@bastospavers.com> Cc: Norman Day(nday@cedarhammockcdd.com) <nday@cedarhammockcdd.com> Subject: CHCDD-Bastos Pavers Inc Estimate 16156 Good afternoon, Would you please revise the attached proposal to be made out to the Cedar Hammock CDD at the billing address below? Cedar Hammock CDD CIO Inframark 210 N. University Dr. Suite 702 Coral Springs, FL 33071 The attached addendum will be required for this project. Please review, sign, and provide the required insurance coverages along with a W-9 and your business license. We would like to have this work scheduled between 5/15 —5/30 this year. If a deposit will be required for this project please submit an invoice to the deposit as well. Let me know if you have any questions. Sincerely, Justin Justin Faircloth I CAM, CDM I District Manager Acc CERTIFICATE OF LIABILITY INSURANCE Agenda Packap MM/DD/YYYY) 03/23/2021 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER.THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND,EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S),AUTHORIZED REPRESENTATIVE OR PRODUCER,AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED,the policy(ies)must be endorsed. If SUBROGATION IS WAIVED,subject to the terms and conditions of the policy,certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER CONTACT NAME: ChallmarASSIS PHOWE Insure Group 'A/cN No,Ext): 239-313-2045 FAX No): 877-890-4638 10231 Metro Parkway Ste.104 ADDRESS: info@weinsurefm.com INSURER(S)AFFORDING COVERAGE NAIC# Fort Myers FL 33966 INSURER A: State Nacional Insurance Company,INC.(16285) 16285 INSURED INSURER B: Prime P&C BASTOS PAVERS,INC INSURER C: Normandy Harbor 13012 3251 Old Metro Parkway INSURER D: INSURER E: Fort Myers FL 33916 INSURER F: COVERAGES CERTIFICATE NUMBER: REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT,TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN,THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES.LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR ADDL-SUER POLICY EFF POLICY EXP TYPE OF INSURANCE LTR INSD WVD POLICY NUMBER (MM/DD/YYYY) (MM/DD/YYYY) LIMITS X COMMERCIAL GENERAL LIABILITY EACH OCCURRENCE $ 1.000.000 CLAIMS-MADE X OCCUR UAMACiE I U HEN I U./ PREMISES(Ea occurrence) $ 100.000 MED EXP(Any one person) $ 10.000 A Y NXTCK10005-00-GL 06/27/2020 06/27/2021 PERSONAL&ADV INJURY $ 1.000.000 GEN'L AGGREGATE LIMIT APPLIES PER: GENERAL AGGREGATE $ 2.000.000 X POLICY PRO- PRODUCTS PRODUCTS-COMP/OP AGG $ 2.000.000 JECT OTHER: $ AUTOMOBILE LIABILITY COMBINED SINCULE LIMI I (Ea accident) $ 300.000 ANY AUTO BODILY INJURY(Per person) $ B - ALL OWNED X SCHEDULED PC20111856-0 11/24/2020 11/24/2021 ( ) $ AUTOS AUTOS BODILY INJURY Per accident NON-OWNED PROPERTY DAMAGE HIRED AUTOS AUTOS (Per accident) • UMBRELLA LIAB OCCUR EACH OCCURRENCE $ EXCESS LIAB CLAIMS-MADE AGGREGATE $ DED RETENTION$ $ WORKERS COMPENSATION X STATUTE EORH AND EMPLOYERS'LIABILITY Y/N - ANY PROPRIETOR/PARTNER/EXECUTIVE E.L.EACH ACCIDENT $ 1,000,000 C OFFICER/MEMBER EXCLUDED? N N/A NHFL0058122020 10/15/2020 10/15/2021 (Mandatory in NH) E.L.DISEASE-EA EMPLOYEE $ 1,000,000 If yes,describe under DESCRIPTION OF OPERATIONS below E.L.DISEASE-POLICY LIMIT $ 1,000,000 • DESCRIPTION OF OPERATIONS/LOCATIONS/VEHICLES (ACORD 101,Additional Remarks Schedule,may be attached if more space is required) CERTIFICATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF,NOTICE WILL BE DELIVERED IN Cedar Hammock ACCORDANCE WITH THE POLICY PROVISIONS. 8660 Cedar Hammock Blvd AUTHORIZED REPRESENTATIVE Naples,FL,34112 C/taInrfr AstsV ©1988-2014 ACORD CORPORATION. All rights reserved. ACORD 25(2014/01) The ACORD name and logo are registered marks of ACORD Agenda Package 37 CEDAR HAMMOCK Community Development District Financial Report February 28, 2021 (Unaudited) Prepared by: INFRAMARK CEDAR HAMMOCK Agenda Package 38 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 8-9 Agenda Package 39 CEDAR HAMMOCK Community Development District Financial Statements (Unaudited) February 28, 2021 Agenda Package 40 CEDAR HAMMOCK Community Development District Governmental Funds Balance Sheet February 28, 2021 GF-BULKHEAD AND BRIDGE GENERAL RESTORATION ACCOUNT DESCRIPTION FUND FUND TOTAL ASSETS Cash-Checking Account $ 1,037,804 $ - $ 1,037,804 Due From Other Funds - 672,623 672,623 Investments: Money Market Account 215,131 - 215,131 Deposits 1,359 - 1,359 TOTAL ASSETS $ 1,254,294 $ 672,623 $ 1,926,917 LIABILITIES Accounts Payable $ 1,856 $ - $ 1,856 Due To Other Funds 672,623 - 672,623 TOTAL LIABILITIES 674,479 - 674,479 FUND BALANCES Nonspendable: Deposits 1,359 - 1,359 Assigned to: Operating Reserves 108,140 - 108,140 Unassigned: 470,316 672,623 1,142,939 TOTAL FUND BALANCES $ 579,815 $ 672,623 $ 1,252,438 TOTAL LIABILITIES&FUND BALANCES $ 1,254,294 $ 672,623 $ 1,926,917 Page 1 CEDAR HAMMOCK Agenda Package 41 Community Development District General Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending February 28,2021 ANNUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE($) ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) REVENUES Interest-Investments $ 10,088 $ 4,203 $ 1,151 $ (3,052) Interest-Tax Collector - - 90 90 Special Assmnts-Tax Collector 299,007 285,964 286,649 685 SpecialAssmnts-Discounts (11,960) (11,438) (11,101) 337 TOTAL REVENUES 297,135 278,729 276,789 (1,940) EXPENDITURES Administration ProfServ-Engineering 30,000 12,500 3,961 8,539 ProfServ-Legal Services 4,249 1,770 1,408 362 ProfServ-Mgmt Consulting Sery 40,742 16,976 16,976 - ProfServ-Property Appraiser 4,485 4,485 - 4,485 ProfServ-Special Assessment 8,938 8,938 8,120 818 ProfServ-Web Site Maintenance 696 290 290 - Auditing Services 5,000 - - - Postage and Freight 900 375 107 268 Insurance-General Liability 7,920 7,920 7,200 720 Printing and Binding 2,000 833 164 669 Legal Advertising 3,000 1,250 - 1,250 Misc-Bank Charges 700 292 - 292 Misc-Assessmnt Collection Cost 5,980 5,718 5,511 207 Misc-Web Hosting 1,799 750 632 118 Office Supplies 100 42 - 42 Annual District Filing Fee 175 175 175 - Total Administration 116,684 62,314 44,544 17,770 Page 2 CEDAR HAMMOCK Agenda Package 42 Community Development District General Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending February 28,2021 ANNUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE($) ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) Field ProfServ-Field Management 1,633 680 5,737 (5,057) Contracts-Water Mgmt Services 7,200 3,000 3,000 - Utility-Cameras 1,268 528 540 (12) Electricity-Wells 4,866 2,028 2,042 (14) Electricity-Aerator 2,000 833 565 268 R&M-Lake 3,000 1,250 - 1,250 R&M-Plant Replacement 3,015 1,256 - 1,256 R&M Bulkheads 5,000 2,083 - 2,083 R&M-Bridges&Cart Paths 5,000 2,083 - 2,083 Misc-Contingency 17,469 7,278 - 7,278 Capital Outlay - - 8,820 (8,820) Reserve-Bridges 10,000 4,167 - 4,167 Reserve-Bulkheads 10,000 4,167 - 4,167 Reserve-Lakes 10,000 4,167 - 4,167 Reserve-Roadways 100,000 41,667 - 41,667 Total Field 180,451 75,187 20,704 54,483 TOTAL EXPENDITURES 297,135 137,501 65,248 72,253 Excess(deficiency)of revenues Over(under)expenditures - 141,228 211,541 70,313 Net change in fund balance $ - $ 141,228 $ 211,541 $ 70,313 FUND BALANCE,BEGINNING(OCT 1,2020) 368,274 368,274 368,274 FUND BALANCE,ENDING $ 368,274 $ 509,502 $ 579,815 Page 3 CEDAR HAMMOCK Agenda Package 43 Community Development District Gf-Bulkhead And Bridge Restoration Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending February 28,2021 ANNUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE($) ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) REVENUES Interest-Investments $ - $ - $ - $ - Special Assmnts-Tax Collector 756,239 685,212 724,976 39,764 Special Assmnts-Discounts (30,250) (27,409) (28,076) (667) Other Miscellaneous Revenues - - 15,900 15,900 TOTAL REVENUES 725,989 657,803 712,800 54,997 EXPENDITURES Administration ProfServ-Property Appraiser 11,343 11,343 - 11,343 Misc-Assessmnt Collection Cost 15,124 13,703 13,938 (235) Total Administration 26,467 25,046 13,938 11,108 Field Capital Outlay-Bulkheads 699,522 291,468 603,410 (311,942) Total Field 699,522 291,468 603,410 (311,942) Debt Service Operating Loan Repayment - - 183,475 (183,475) Total Debt Service - - 183,475 (183,475) TOTAL EXPENDITURES 725,989 316,514 800,823 (484,309) Excess(deficiency)of revenues Over(under)expenditures - 341,289 (88,023) (429,312) OTHER FINANCING SOURCES(USES) Loan/Note Proceeds - - 645,165 645,165 TOTAL FINANCING SOURCES(USES) - - 645,165 645,165 Net change in fund balance $ - $ 341,289 $ 557,142 $ 215,853 FUND BALANCE,BEGINNING(OCT 1,2020) 115,481 115,481 115,481 FUND BALANCE,ENDING $ 115,481 $ 456,770 $ 672,623 Page 4 Agenda Package 44 CEDAR HAMMOCK Community Development District Supporting Schedules February 28, 2021 CEDAR HAMMOCK Agenda Package 45 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 12/10/20 397,607 16,906 8,114 422,627 119,754 302,874 12/20/20 26,688 898 545 28,130 7,971 20,159 01/31/21 40,707 1,177 831 42,714 12,103 30,611 02/17/21 27,996 489 571 29,056 8,233 20,823 TOTAL $ 952,999 $ 39,177 $ 19,449 $ 1,011,625 $ 286,649 $ 724,976 % COLLECTED 96% 96% 96% TOTAL OUTSTANDING $ 43,622 $ 12,361 $ 31,262 Page 5 CEDAR HAMMOCK Agenda Package 46 Community Development District All Funds Cash and Investment Report February 28, 2021 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% 1,037,804 Money Market Account BankUnited Public Funds MMA n/a 0.30% 215,131 Total $ 1,252,935 Page 6 Cedar Hammock CDD Agenda Package 47 Bank Reconciliation Bank Account No. 2555 Valley National Bank GF Statement No. 2/21 Statement Date 2/28/2021 G/L Balance(LCY) 1,037,803.78 Statement Balance 1,039,583.78 G/L Balance 1,037,803.78 Outstanding Deposits 0.00 Positive Adjustments 0.00 Subtotal 1,039,583.78 Subtotal 1,037,803.78 Outstanding Checks 1,780.00 Negative Adjustments 0.00 Differences 0.00 Ending G/L Balance 1,037,803.78 Ending Balance 1,037,803.78 Difference 0.00 Posting Document Document Cleared Date Type No. Description Amount Amount Difference Outstanding Checks 2/22/2021 Payment 2531 CARDNO ENTRIX 600.00 0.00 600.00 2/25/2021 Payment 2533 BANKS ENGINEERING INC 1,180.00 0.00 1,180.00 Total Outstanding Checks 1,780.00 1,780.00 Page 7 O p N cn O O O N N O p O p O p N In O co co N O) O p C O p N O m U).m O.— m O p O p O p N O co co M O co, O p • "O C p OUi CO7 Ni N C)69 p O p o p O p to c0 I:LM )00 ^ O p O N 69 M M C9 E9 N N U) p o p CO)')M a0 V3 m m cv) co C,p ¢ 0_ M 69 Cr 69 6�93 p M 69 EA p a0 0. 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V O = O N C N0 CV N W• cal N N W u ^ > N N N U N N Q N Z cu 45 v v W c a W Y O c — 0) M d W N Q 03 a CV T ')I an co (•) C) V 1� NCC o co w C) N L E a) N 0) CO� L Z w o U I- I- I- I- I- 0., o a a ¢ a CL (1) a) x = x x = +. a ¢ a ¢ a C.) o 0 cy w z co co N 0 N' U) LO Lx) a) CVV N- CV La/' O U U cr.) • m N v . N N CV CV 0 CV CV 5O O 00 CV CV O 0 O CV 2 a I oc a cCO W V a x x I = x J J J J J a a a a a a W L) a W m T A IT d N N aa, N N> P'1 > V > u.)> t D N N N N N O O O O O a) 0 O 0 0 O CO A- 0N N It N 4*CV N =o = cn 2N 2CCV V = cn Q O Q O Q 0 Q O Q O Agenda Package 51 Cedar Hammock Community Development District ANNUAL FINANCIAL REPORT September 30, 2020 Agenda Package 52 Cedar Hammock Community Development District ANNUAL FINANCIAL REPORT September 30, 2020 TABLE OF CONTENTS Page Number REPORT OF INDEPENDENT AUDITORS 1-2 MANAGEMENT'S DISCUSSION AND ANALYSIS 3-7 BASIC FINANCIAL STATEMENTS: Government-wide Financial Statements Statement of Net Position 8 Statement of Activities 9 Fund Financial Statements: Balance Sheet—General Fund 10 Reconciliation of Total Governmental Fund Balances to Net Position 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 15-25 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 26-27 MANAGEMENT LETTER 28-29 INDEPENDENT ACCOUNTANT'S REPORT/COMPLIANCE WITH SECTION 218.415, FLORIDA STATUTES 30 Agenda Package 53 eft 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 REPORT OF INDEPENDENT AUDITORS To the Board of Supervisors Cedar Hammock Community Development District Collier County, Florida Report on the Financial Statements We have audited the accompanying financial statements of Cedar Hammock Community Development District as of and for the year ended September 30, 2020, and the related notes to financial statements, which collectively comprise the District's basic financial statements as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these 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 Government Accounting 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 from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Fort Pierce/Stuart Member AICPA Member AICPA Division for CPA Firms Member FICPA Private Companies practice Section Agenda Package 54 eaBerger,Toombs, Elam, -} Gaines& Frank Cxniled WIAIcAcwunpno Pl To the Board of Supervisors Cedar Hammock Community Development District Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and the General Fund of Cedar Hammock Community Development District, as of September 30, 2020, 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. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the Management Discussion and Analysis be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued a report dated March 31, 2021 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 and contracts. 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 internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Cedar Hammock Community Development District's internal control over financial reporting and compliance. aik 400(66/ 01 r0N-A1/0) Aar.. Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL Fort Pierce, Florida March 31, 2021 - 2 - Agenda Package 55 Cedar Hammock Community Development District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2020 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 Government-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 Government-wide financial statements are the statement of net position and the statement of activities. These statements use accounting methods similar to those used by private-sector companies. Emphasis is placed on the net position of governmental activities and the change in net position. Governmental activities are primarily supported by special assessments. The statement of net position presents information on all assets and liabilities of the District, with the difference between assets and liabilities reported as net position. Net position are reported in two categories; invested in capital assets, net of related debt, and unrestricted. Assets, liabilities and net position 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 position. 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 - Agenda Package 56 Cedar Hammock Community Development District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2020 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 position. 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, 2020. • The District's total assets exceeded total liabilities by $14,771,253 (net position). Unrestricted net position for Governmental Activities was $483,756. Net investment in capital assets was $14,287,497. • Governmental Activities revenues totaled $1,582,699 while governmental activities expenses totaled $541,654. - 4 - Agenda Package 57 Cedar Hammock Community Development District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2020 OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED) Financial Analysis of the District The following schedule provides a summary of the assets, liabilities and net position of the District and is presented by category for comparison purposes. Net Position Governmental Activities 2020 2019 Current assets $ 613,051 $ 886,964 Capital assets 14,942,332 12,864,267 Total Assets 15,555,383 13,751,231 Current liabilities 784,130 21,023 Net position - net investment in capital assets 14,287,497 12,864,267 Net position - unrestricted 483,756 865,941 Total Net Position $ 14,771,253 $ 13,730,208 The decrease in current assets and net position — unrestricted is the result of the construction in progress project in the current year. The increase in capital assets and net position —net investment in capital assets is primarily due to capital additions exceeding depreciation in the current year. - 5 - Agenda Package 58 Cedar Hammock Community Development District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2020 OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED) Financial Analysis of the District (Continued) The following schedule provides a summary of the changes in net position of the District and is presented by category for comparison purposes. Change in Net Position Governmental Activities 2020 2019 Governmental Revenues Charges for services $ 1,547,077 $ 365,622 Intergovernmental revenues 1,082 12,622 Miscellaneous revenues 17,875 1,975 Investment earnings 16,665 17,379 Total Revenues 1,582,699 397,598 Expenses General government 155,508 130,975 Physical environment 386,146 423,915 Total Expenses 541,654 554,890 Change in Net Position 1,041,045 (157,292) Net Position - Beginning of Year 13,730,208 13,887,500 Net Position - End of Year $ 14,771,253 $ 13,730,208 The increase in charges for services is related to a budgeted increase in special assessments for the bulkhead capital project. The increase in general government is related to the increase in collection fees in the current year. The decrease in physical environment is primarily related to bulkhead repairs in the prior year. - 6- Agenda Package 59 Cedar Hammock Community Development District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2020 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, 2020 and 2019. Governmental Activities Description 2020 2019 Land and improvements $ 10,991,512 $ 10,991,512 Construction in progress 2,329,545 - Buildings and improvements 359,117 359,117 Infrastructure 5,747,726 5,747,726 Equipment 41,856 41,856 Accumulated depreciation (4,527,424) (4,275,944) Total Capital Assets (Net) $ 14,942,332 $ 12,864,267 During the year, depreciation was $251,480, and capital additions were $2,329,545. General Fund Budgetary Highlights The budget exceeded actual government expenditures primarily due to less contingency and repair and maintenance expenditures than were anticipated. The September 30, 2020 budget was amended for reserve expenditures that were not anticipated in the original budget. Economic Factors and Next Year's Budget Cedar Hammock Community Development District anticipates borrowing additional funds for a major bulkhead repair project in fiscal year 2021. 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, Inframark Infrastructure Management Services, Inc., 210 N. University Drive, Suite 702, Coral Springs, Florida 33071. - 7 - Agenda Package 60 Cedar Hammock Community Development District STATEMENT OF NET POSITION September 30, 2020 Governmental Activities ASSETS Current Assets: Cash and cash equivalents $ 595,308 Assessments receivable 2,147 Due from other governments 7,037 Prepaid expenses 7,200 Deposits 1,359 Total Current Assets 613,051 Non-Current Assets: Capital Assets Not Being Depreciated Land and improvements 10,991,512 Construction in progress 2,329,545 Capital Assets Being Depreciated Buildings and improvements 359,117 Infrastructure 5,747,726 Equipment 41,856 Less: accumulated depreciation (4,527,424) Total Non-Current Assets 14,942,332 Total Assets 15,555,383 LIABILITIES Current Liabilities: Accounts payable and accrued expenses 127,404 Due to other governments 1,891 Note payable 654,835 Total Current Liabilities 784,130 NET POSITION Net investment in capital assets 14,287,497 Unrestricted 483,756 Total Net Position $ 14,771,253 See accompanying notes to financial statements. - 8 - Agenda Package 61 Cedar Hammock Community Development District STATEMENT OF ACTIVITIES For the Year Ended September 30, 2020 Net (Expense) Revenue and Program Changes in Revenues Net Position Charges for Governmental Functions/Programs Expenses Services Activities Primary government Governmental Activities General government $ (155,508) $ 829,099 $ 673,591 Physical environment (386,146) 717,978 331,832 Total Governmental Activities $ (541,654) $ 1,547,077 1,005,423 General revenues: Intergovernmental revenues 1,082 Miscellaneous revenues 17,875 Interest earnings 16,665 Total General Revenues 35,622 Change in net position 1,041,045 Net Position - October 1, 2019 13,730,208 Net Position - September 30, 2020 $ 14,771,253 See accompanying notes to financial statements. - 9 - Agenda Package 62 Cedar Hammock Community Development District BALANCE SHEET— GENERAL FUND September 30, 2020 ASSETS Cash and cash equivalents $ 595,308 Assessments receivable 2,147 Due from other governments 7,037 Prepaid expenses 7,200 Deposits 1,359 Total Assets $ 613,051 LIABILITIES AND FUND BALANCES Liabilities Accounts payable and accrued expenses $ 127,404 Due to other governments 1,891 Total Liabilities 129,295 Fund balances Nonspendable: Prepaid expenses 7,200 Deposits 1,359 Assigned: Operating reserves 108,140 Unassigned 367,057 Total Fund Balances 483,756 Total Liabilities and Fund Balances $ 613,051 See accompanying notes to financial statements. - 10 - Agenda Package 63 Cedar Hammock Community Development District RECONCILIATION OF TOTAL GOVERNMENTAL FUND BALANCES TO NET POSITION OF GOVERNMENTAL ACTIVITIES September 30, 2020 Total governmental fund balances $ 483,756 Amounts reported for governmental activities in the Statement of Net Position are different because: Capital assets not being depreciated, land and improvements, $10,991,512, and construction in progress, $2,329,545, used in governmental activities are not current financial resources and therefore, are not reported at the fund level. 13,321,057 Capital assets being depreciated, building and improvements, $359,117, infrastructure, $5,747,726, and equipment, $41,856, net of accumulated depreciation, $(4,527,424), used in governmental activities are not current financial resources and therefore, are not reported at the fund level. 1,621,275 Notes payable are not payable from available resources and therefore, are not recognized at the fund level. (654,835) Net Position of Governmental Activities $ 14,771,253 See accompanying notes to financial statements. - 11 - Agenda Package 64 Cedar Hammock Community Development District STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES— GENERAL FUND For the Year Ended September 30, 2020 Revenues Special assessments $ 1,547,077 Intergovernmental revenues 1,082 Miscellaneos revenues 17,875 Interest earnings 16,665 Total Revenues 1,582,699 Expenditures Current General government 155,508 Physical environment 134,666 Capital outlay 2,329,545 Total Expenditures 2,619,719 Excess of revenues over/(under) expenditures (1,037,020) Other Financing Sources/(Uses) Issuance of note payable 654,835 Net Change in Fund Balances (382,185) Fund Balances- October 1, 2019 865,941 Fund Balances- September 30, 2020 $ 483,756 See accompanying notes to financial statements. - 12 - Agenda Package 65 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, 2020 Net change in fund balances -total governmental funds $ (382,185) Amounts reported for governmental activities in the Statement of Activities are different because: Governmental 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 that depreciation, $(251,480), was exceeded by capital outlay, $2,329,545, in the current year. 2,078,065 Proceeds from the issuance of long-term debt are recognized as an other financing source at the fund level, but increase liabilities at the government-wide level. (654,835) Change in Net Position of Governmental Activities $ 1,041,045 See accompanying notes to financial statements. - 13 - Agenda Package 66 Cedar Hammock Community Development District STATEMENT OF REVENUES, EXPENDITURES AND CHANGE IN FUND BALANCES - BUDGET AND ACTUAL- GENERAL FUND For the Year Ended September 30, 2020 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Revenues Special assessments $1,541,464 $1,541,464 $1,547,077 $ 5,613 Intergovernmental revenues - - 1,082 1,082 Miscellaneous revenues - - 17,875 17,875 Interest earnings 10,570 10,570 16,665 6,095 Total Revenues 1,552,034 1,552,034 1,582,699 30,665 Expenditures Current General government 153,162 184,662 155,508 29,154 Physical environment 309,811 854,311 134,666 719,645 Capital outlay 1,089,061 1,639,061 2,329,545 (690,484) Total Expenditures 1,552,034 2,678,034 2,619,719 58,315 Excess of revenues over/(under) expenditures - (1,126,000) (1,037,020) 88,980 Other Financing Sources/(Uses) Issuance of note payable 500,000 500,000 654,835 154,835 Net change in fund balances 500,000 (626,000) (382,185) 243,815 Fund Balances- October 1, 2019 820,952 820,952 865,941 44,989 Fund Balances- September 30, 2020 $1,320,952 $ 194,952 $ 483,756 $ 288,804 See accompanying notes to financial statements. - 14 - Agenda Package 67 Cedar Hammock Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2020 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 established 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 - Agenda Package 68 Cedar Hammock Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2020 NOTE A—SUMMARY OF ACCOUNTING POLICIES (CONTINUED) 2. Measurement Focus and Basis of Accounting (Continued) a. Government-wide Financial Statements The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. 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 are normally supported by special assessments and interest. 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- Agenda Package 69 Cedar Hammock Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2020 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 - Agenda Package 70 Cedar Hammock Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2020 NOTE A—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 2. Measurement Focus and Basis of Accounting (Continued) b. Fund Financial Statements (Continued) Governmental Funds (Continued) Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are considered to be available when they are collected within the current period or soon thereafter to pay liabilities of the current period. For this purpose, the District considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. 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 - Agenda Package 71 Cedar Hammock Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2020 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 position. 4. Assets, Liabilities, and Net Position 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. b. Restricted Assets Certain assets of the District and a corresponding liability or portion of net position is classified as restricted on the statement of net position 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 position and then from unrestricted net position. - 19 - Agenda Package 72 Cedar Hammock Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2020 NOTE A—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 4. Assets, Liabilities, and Net Position or Equity (Continued) c. Capital Assets Capital assets, which include land, construction in progress, buildings, infrastructure and equipment, are reported in the governmental 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 Chapter 190, 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- Agenda Package 73 Cedar Hammock Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2020 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 Position "Total fund balances" of the District's governmental funds, $483,756, differs from "net position" of governmental activities, $14,771,253, reported in the Statement of Net Position. This difference primarily results from the long-term economic focus of the Statement of Net Position 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 Position included those capital assets among the assets of the District as a whole. Land and improvements $ 10,991,512 Construction in progress 2,329,545 Buildings and improvements 359,117 Infrastructure 5,747,726 Equipment 41,856 Accumulated depreciation (4,527,424) Total $ 14.942.332 Notes payable Notes payable that are not expected to be paid from available spendable resources and therefore, are not reflected at the fund level. Notes payable $ 654.835 2. Explanation of Differences Between the Governmental Fund Operating Statements and the Statement of Activities The "net change in fund balances" for government funds, $(382,185), differs from the "change in net position" for governmental activities, $1,041,045, 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. - 21 - Agenda Package 74 Cedar Hammock Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2020 NOTE B — RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS (CONTINUED) 2. Explanation of Differences Between the Governmental Fund Operating Statements and the Statement of Activities (Continued) 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 position decrease by the amount of depreciation expense charged for the year. Depreciation $ (251,480) Capital outlay 2,329,545 Total $ 2,078.065 Long-term debt transactions Proceeds from the issuance of long-term debt are recognized as an other financing source at the fund level, but increase liabilities at the government-wide level. Issuance of long-term debt $ (654.835) 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, 2020, the District's bank balance was $597,808 and the carrying value was $595,308. Exposure to custodial credit risk was as follows. The District maintains all deposits and certificates of deposit 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. - 22 - Agenda Package 75 Cedar Hammock Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2020 NOTE C —CASH AND INVESTMENTS (CONTINUED) Investments The District categorizes its fair value measurements within the fair value hierarchy recently established by generally accepted accounting principles. The fair value is the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. The District uses a market approach in measuring fair value that uses prices and other relevant information generated by market transactions involving identical or similar assets, liabilities, or groups of assets and liabilities. The District categorizes its fair value measurements within the fair value hierarchy recently established by generally accepted accounting principles. The fair value is the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. The District uses a market approach in measuring fair value that uses prices and other relevant information generated by market transactions involving identical or similar assets, liabilities, or groups of assets and liabilities. As of September 30, 2020, the District did not hold any investments. NOTE D —SPECIAL ASSESSMENT REVENUES Special assessment revenues recognized for the 2019-2020 fiscal year were levied in October 2019. 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. - 23 - Agenda Package 76 Cedar Hammock Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2020 NOTE E— CAPITAL ASSETS Capital asset activity for the year ended September 30, 2020 was as follows: Balance Balance October 1, September 30, 2019 Additions Deletions 2020 Governmental Activities: Capital assets, not being depreciated: Land and improvements $ 10,991,512 $ - $ - $ 10,991,512 Construction in progress - 2,329,545 - 2,329,545 Total Capital Assets, Not Depreciated 10,991,512 2,329,545 - 13,321,057 Capital assets, being depreciated: Building and improvements 359,117 - - 359,117 Infrastructure 5,747,726 - - 5,747,726 Equipment 41,856 - - 41,856 Total Capital Assets, Being Depreciated 6,148,699 - - 6,148,699 Less accumulated depreciation for: Building and improvements (234,187) (15,256) - (249,443) Infrastructure (4,011,517) (233,821) - (4,245,338) Equipment (30,240) (2,403) - (32,643) Total Accumulated Depreciation (4,275,944) (251,480) - (4,527,424) Total Capital Assets Depreciated, Net 1,872,755 (251,480) - 1,621,275 Governmental Activities Capital Assets $ 12,864,267 $ 2,078,065 $ - $ 14,942,332 Depreciation ($251,480) was charged to physical environment. NOTE F— LONG-TERM DEBT In February 2020, the District entered into a loan agreement for $1,300,000 at an interest rate of 3.35% due May 1, 2022. The District made draws on the loan totaling $654,835 as of September 30, 2020. Summary of Significant Terms and Covenants The District levies special assessments pursuant to loan agreement and the assessment rolls are approved by resolutions of the District Board. The collections are to be strictly accounted for and applied to the bond series for which they were levied. The District covenants to levy special assessments in annual amounts adequate to provide for payment of principal and interest on the loan. However, payment of principal and interest is dependent on the money available and the District's ability to collect special assessments levied. - 24 - Agenda Package 77 Cedar Hammock Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2020 NOTE G — 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. There were no claims or settled claims from these risks that have exceeded commercial insurance coverage over the past three years. NOTE H —SUBSEQUENT EVENT In December 2020, the District borrowed an additional $645,165 to fund a major bulkhead renovation. - 25 - Agenda Package 78 c�� Gaines & Frank ger b Elam "Cr , Certified Public Accountants PL 600 Citrus 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, in accordance with the 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, the financial statements of Cedar Hammock Community Development District, as of and for the year ended September 30, 2020, and the related notes to the financial statements, and have issued our report thereon dated March 31, 2021. Internal Control Over Financial Reporting In planning and performing our audit, we considered Cedar Hammock Community Development District's internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of Cedar Hammock Community Development District's internal control. Accordingly, we do not express an opinion on the effectiveness of Cedar Hammock Community Development District's internal control. 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. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. Fort Pierce/Stuart - 26 - Member AICPA Member AICPA Division for CPA Firms Member FICPA Private Companies practice Section Agenda Package 79 aBerger,Toombs, Elam, AV Gaines& Frank C,tfl,d PuU'ic Accountant Pi To the Board of Supervisors Cedar Hammock Community Development District Collier County, Florida Compliance and Other Matters As part of obtaining reasonable assurance about whether Cedar Hammock Community Development District's 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. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. 3 , da0V660/PG bOat74.t0) A Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL Fort Pierce, Florida March 31, 2021 - 27 - Agenda Package 80 c,� �e Gaines & F ab k Elam, Certified Public Accountants Pt 600 Citrus Avenue Suite 200 Fort Pierce,Florida 34950 772/461-6120//461-1155 FAX: 772/468-9278 MANAGEMENT LETTER To the Board of Supervisors Cedar Hammock Community Development District Collier County, Florida Report on the Financial Statements We have audited the financial statements of the Cedar Hammock Community Development District as of and for the year ended September 30, 2020, and have issued our report thereon dated March 31, 2021. Auditor's Responsibility 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. Other Reporting Requirements We have issued our 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 and our Independent Auditor's Report on an examination conducted in accordance with AICPA Professionals Standards, AT-C Section 315 regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in that report, which is dated March 31, 2021, should be considered in conjunction with this management letter. Prior Audit Findings Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective actions have been made to address findings and recommendations made in the preceding financial audit report. There were no findings or recommendations made in the preceding financial audit report. Financial Condition Section 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, requires us to apply appropriate procedures and communicate the results of our determination as to whether or not Cedar Hammock Community Development District has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific conditions met. In connection with our audit, we determined that the Cedar Hammock Community Development District did not meet any of the conditions described in Section 218.503(1), Florida Statutes. Fort Pierce/Stuart - 28 - Member AICPA Member AICPA Division for CPA Firms Member FICPA Private Companies practice Section Agenda Package 81 <<r Berger,Toombs, Elam, CY Gaines& Frank C difed PublkAcunndne PL To the Board of Supervisors Cedar Hammock Community Development District Pursuant to Sections 10.554(1)(i)5.b. and 10.556(8), Rules of the Auditor General, we applied financial conditions assessment procedures as of September 30, 2020 for the Cedar Hammock Community Development District. It is management's responsibility to monitor the Cedar Hammock Community Development District'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. Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations. Additional Matters Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we did not note any such findings. Purpose of this Letter 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, the Board of Supervisors, and applicable management, and is not intended to be and should not be used by anyone other than these specified parties. 40/Y13610G AU;te'd 1 ,VA- Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL Fort Pierce, Florida March 31, 2021 - 29 - Agenda Package 82 cte� 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 INDEPENDENT ACCOUNTANT'S REPORT/COMPLIANCE WITH SECTION 218.415, FLORIDA STATUTES To the Board of Supervisors Cedar Hammock Community Development District Collier County, Florida We have examined Cedar Hammock Community Development District's compliance with Section 218.415, Florida Statutes during the year ended September 30, 2020. Management is responsible for Cedar Hammock Community Development District's compliance with those requirements. Our responsibility is to express an opinion on Cedar Hammock Community Development District's compliance based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about Cedar Hammock Community Development District's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on Cedar Hammock Community Development District's compliance with the specified requirements. In our opinion, Cedar Hammock Community Development District complied, in all material respects, with the aforementioned requirements during the year ended September 30, 2020. aard d6J 14' All/d- Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL Fort Pierce, Florida March 31, 2021 Fort Pierce/Stuart - 30- Member AICPA Member AICPA Division for CPA Firms Member FICPA Private Companies practice Section Cedar Hammock Community Development District Inframark, Infrastructure Management Services 210 N. University Drive, Coral Springs, FL 33071 Tel: 954-603-0033; Fax: 954-345-1292 DATE: June 21, 2021 Memorandum to: Jim Kurtzeborn Cedar Hammock Golf and Country Club VIA EMAIL TO: GM@cedarhammockcc.com RE: Cedar Hammock CDD Minutes of: April 12, 2021 as approved at May 10, 2021 Meeting Enclosed for your record is a copy of the above-reference minutes for the Cedar Hammock Community Development District, which are to be kept on file for public access. FOR INFORMATIONAL PURPOSES ONLY: Crystal Kinzel, Director Clerk of the Circuit Court/Finance Dept. VIA EMAIL TO: Derek.johnssen@collierclerk.com Berger, Toombs, Elam, Gaines & Frank Via email to: audit@btef-cpas.com Justin Faircloth,justin.faircloth@inframark.com