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Backup Documents 04/22/2025 Item #16I 1b I1A1 Quarry Community Development District Inframark, Community Management Services 11555 Heron Bay Boulevard, Suite 201, Coral Springs, Florida 33076 Tel. (954)282-0070 DATE: March 5, 2025 Mr. Derrick Johnssen CLERK OF THE CIRCUIT COURT Finance Department Derek.johnssen@collierclerk.com FROM: Janice Swade Lead District Administrative Assistant RE: Quarry Community Development District January 13, 2025 Meeting Minutes, as Approved February 10, 2025 Enclosed for your records is a copy of the minutes and corresponding attachments of the above referenced meeting of the Quarry Community Development District, which are to be kept on file for public access. Encl: Cc: Mr. Wes Haber Wesley.Haber@KutakRock.com 16 11A1 MINUTES OF MEETING QUARRY COMMUNITY DEVELOPMENT DISTRICT The regular meeting of the Board of Supervisors of Quarry Community Development District was held Monday, January 13, 2025 at 1:00 p.m. at Quarry Beach Club, located at 8975 Kayak Drive,Naples, Florida 34120. Present and constituting a quorum were: Dean Britt Chairperson Thel Thomas Whitley. Jr. Assistant Secretary William Patrick Assistant Secretary Mel Stuckey Assistant Secretary Also present were: Justin Faircloth District Manager Joe Brown Kutak Rock Albert Lopez District Engineer(Remotely) Mark Puthoff Manager, Quarry Community Association Various Residents Following is a summary of the discussions and actions taken. FIRST ORDER OF BUSINESS Call to Order and Roll Call Mr. Faircloth called the meeting to order, and called the roll.A quorum was established. SECOND ORDER OF BUSINESS Pledge of Allegiance The Pledge of Allegiance was recited. THIRD ORDER OF BUSINESS Approval of Agenda • Mr.Faircloth noted the Collier Environmental Services Quarterly Report was going to be distributed at the meeting, but he had a printer issue, and instead it would be placed on the February agenda for review by the Board. tb11A1 January 13, 2025 Meeting Quarry CDD On MOTION by Mr. Britt, seconded by Mr. Patrick, with all in I favor,the Agenda for the Meeting was approved, as presented. (4-0) FOURTH ORDER OF BUSINESS Public Comments on Agenda Items — Three(3)Minute Time Limit There being no comments from the public, the next order of business followed. FIFTH ORDER OF BUSINESS Business Items A. Board Organizational Matters i. Appointment of Supervisor to Fill Vacant Seat 5 • Mr. Britt noted someone may attend the meeting who expressed interest in serving on the Board, but the person appeared to be running late. ii. Oath of Office for Newly Appointed Supervisor iii. Resolution 2025-01,Designation of Officers These items were tabled to the next meeting. B. Quarterly Preserve Maintenance Report This item was tabled to the next meeting, as noted earlier in this meeting. C. Consideration of Variance Easement 9262 Marble Stone Drive On MOTION by Mr. Whitley, seconded by Mr. Patrick, with all in favor, the Variance Easement for 9262 Marble Stone Drive shall be allowed, subject to the homeowner acknowledging they will follow the contour of the swale. (4-0) • Mr. Faircloth requested that CPH revise his letter notating the conditional item needed, and then to respond to the QCA as soon as acknowledgment is received from the resident. SIXTH ORDER OF BUSINESS Staff Reports A. District Counsel • Mr. Brown provided a brief update on communications with Quality Enterprises. • Mr. Faircloth inquired about the letter from Mr. Haber to the QCA regarding installation of items into the lake. 2 16 11A1 January 13, 2025 Meeting Quarry CDD B. District Engineer i. Glase Golf Update a. Phase I Project& Phase II Project Closures • Mr.Lopez noted he was tentatively planning to review Glase Golf contract warranty items during the first week in February. • Mr. Faircloth noted Mr. Puthoff gave him a letter signed by the owner of 9262 Marble Stone Drive that notated they would follow the contour of the swale, and he would scan the document and send it to Mr. Lopez for review. • Mr. Faircloth inquired about the status of 9160 Flint Court.Mr. Puthoff noted there were no drainage items in the District's easement any longer,and that the QCA had not yet received a modification approval letter. The Board requested Mr. Lopez review to ensure there was no longer a concern for the District. • Mr. Faircloth noted that CPH updated the District's maps notating the recent stormwater structure work that had been performed. The Board requested the updated map be provided in PDF format,and uploaded to the District's Supervisors' website for future use as needed. • Mr.Faircloth inquired about the status of 9171 Shale Court,and noted the QCA and the homeowner were trying to determine whether any erosion restoration work was needed as a result of the pool overflow extension not being removed promptly. Mr. Lopez noted he would review. • Mr. Britt requested Mr. Lopez review 9385 Copper Canyon Court to determine whether the swale issue had been repaired. The record shall reflect Mr. Lopez and Mr. Brown exited the meeting. C. District Manager i. Follow-Up Items a. Open Action Items List Mr. Faircloth reviewed the Action Items List with the Board and answered questions. • Mr. Britt noted that the District may need assistance at 9406 Copper Canyon Court with Vision to isolate the irrigation heads, as the District will need to install a lot of fill around this lake bank during the Phase III project. b. March 2025 Meeting Discussion • Mr. Faircloth noted he would be out of town when the March meeting is scheduled to be held, and inquired whether the Board would like to move the meeting or if 3 \ 11\1 January 13, 2025 Meeting Quarry CDD they wished to have a replacement attend the meeting instead.The Board requested the meeting remain as posted. Mr. Faircloth will arrange to have alternate staff present for the meeting. SEVENTH ORDER OF BUSINESS Business Administration A. Consideration of Minutes from December 9,2024 Meeting B. Acceptance of the Financial Report, and Approval of Check Register and Invoices as of November 2024 Mr. Faircloth presented the Business Administration Items, as noted above, and requested any additions, corrections or deletions. There being none, On MOTION by Mr. Stuckey, seconded by Mr. Patrick, with all in favor,the Minutes of the December 9,2024 Meeting were approved, the Financial Report as of November 2024 was accepted, and the Check Register and Invoices as of November 2024 were approved. (4-0) EIGHTH ORDER OF BUSINESS Supervisor Requests A. Supervisor Patrick B. Supervisor Stuckey C. Supervisor Whitley There being no requests from Supervisors, the next order of business followed. NINTH ORDER OF BUSINESS Chairperson's Comments • Mr. Britt discussed the request from Peter Reitz with the Lake Committee for a liaison from the CDD. Mr. Stuckey volunteered to be the liaison for the Committee from the CDD. Mr. Britt noted he would share information about the Committee and request with Mr. Stuckey and copy Mr. Faircloth on the communication. • Mr. Britt discussed possible addition of fish structures in the lakes. TENTH ORDER OF BUSINESS Audience Comments There being no comments from the audience,the next order of business followed. 4 January 13, 2025 Meeting 16 h 1 A 1 ELEVENTH ORDER Quarry CDD There being further BUSINESS Meeting busines Adjournment On MOTION by Mr. Patrick, seconded b favor, the meeting was adjourned, and by Board entered intotley, with to a Workshop. (4-0) a TWELFTH ORDER OF BUSINESS • Mr. Stuckey inquired about items onBthe financialsoard and Mr. Fair cloth cloth answered questions. Mr. Stuckey requested to see the year end financials from Fiscal Year 2024. Dean Britt Chairperson 5 Quarry Community Development District 16 ii A 1 Board of Supervisors Staff: Dean Britt,Chairperson Justin Faircloth,District Manager Vacant,Vice Chairperson Wesley Haber,District Counsel Thel Thomas Whitley,Jr.,Assistant Secretary Albert Lopez,District Engineer William Patrick,Assistant Secretary Mel Stuckey,Assistant Secretary Meeting Agenda Monday January 13,2025 at 1:00 p.m. Quarry Beach Club 8975 Kayak Drive,Naples,Florida 34120 1. Call to Order and Roll Call 2. Pledge of Allegiance 3. Approval of Agenda 4. Public Comments on Agenda Items—Three- (3) Minute Time Limit 5. Business Items A. Board Organizational Matters i. Appointment of Supervisor to Fill Vacant Seat 5 ii. Oath of Office for Newly Appointed Supervisor iii. Resolution 2025-01, Designation of Officers B. Quarterly Preserve Maintenance Report C. Consideration of Variance Easement 9262 Marble Stone Drive 6. Staff Reports A. District Counsel B. District Engineer i. Glase Golf Update a. Phase I Project& Phase II Project Closures ii. Future Lake Bank Repairs CPH Update C. District Manager i. Follow-Up Items a. Open Action Items List b. March 2025 Meeting Discussion 7. Business Administration A. Consideration of Minutes from December 9,2024 Meeting B. Acceptance of the Financial Report, and Approval of the Check Register and Invoices as of November 2024 8. Supervisor Requests A. Supervisor Patrick B. Supervisor Stuckey C. Supervisor Whitley 9. Chairperson's Comments 10. Audience Comments 11. Adjournment 12. Board Workshop The next meeting is scheduled for Monday, February 10, 2025, at 1:00 p.m. Inframark,Community Management Services Quarry Beach Club 11555 Heron Bay Boulevard,Suite 201 8975 Kayak Drive Coral Springs,Florida 33076 Naples,Florida 34120 (239)348-7326 www.quarrycdd.org 16ItA1 * LocaliQ Florida PO Box 631244 Cincinnati,OH 45263-1244 GANNETT NOTICE OF MEETINGS AFFIDAVIT OF PUBLICATION QUARRY COMMUNITY DEVELOPMENT DISTRICT The Board of Supervisors of Quarry Quarry Community Dev Dist Special Sex Community Development District will hold their meetings for Fiscal Quarry CND - lnfl•amark Year 2025 on the second Monday of every month os listed below at 1:00 210 N University DR,Suite#702 ap.8atsQuarry Beach chDrlClub located ve, Napbs Coral Springs F1,33071-7320 Florida 34120,with the exception of JUIy In which there will not be 0 meeting,as follows: October 14,2024 November II,2024 STATE OF WISCONSIN,COUNTY OF BROWN January 13 22024 5 February 10,2025 March 10,2025 April 14,2025 Before the undersigned authority personally appeared,who May 12.20Approvallve Budget June 9,2025 on oath says that he or she is the Legal Advertising August II,2025 Budget Public Hear- ing Representative of the Naples DailyNews,a newspaper September 8,2025 P PThe meetings are open to the public published in Collier County, Florida;that the attached copy and will provisiono laccordance lorida w for Community Development of advertisement, being a Legal Ad in the matter of Gout Districts. There may be occasions when one or more Supervisors may participate via phone. Any Inter. Public Notices,was published on the publicly accessible ested person can attend the meeting at the above location and be fully website of Collier and Lee Counties, Florida,or in a informed of the discussions taking place.Meetings may be continued to newspaper by print in the issues of, on: an time and locationtfto eetngs Pied date, the record at the meetings without additional publication of notice, A copy of the agenda for these meet. 09/23/2024 legs may be obtained from the District Manager's Office.210 North University Drive, Suite 702, Coral Springs, Florida 33071, (9541 603. 0033, or by visiting the District's Affiant further says that the website or newspaper complies website at https://www.quarrvcdd.org). Addl- with all legal requirements for publication in chapter 50, Homily, Interested parties may refer to the District's website for the latest District Information. Florida Statutes. Pursuant to the provisions of the Americans with Disabilities Act,any Subscribed and sworn to before me, by the legal clerk, who person requiring special because dations at these meetings because of a disability or physical impairment is personally known to me, on 09/23/2024 should contact the District Manager's Office at leastfortyeight (48) hours prior to the meeting. If you ore hearing or speech impaired, please contact the Florida Relay Service by dialing 7.1.1,or 1.800-955- Le a elk 8771 (TTY) /1-000.955.8770 (Voice), for aid in contacting the District Manager's Office. Each person who decides to appeal any action taken at these meetings is advised that person will need a otary, tate o ,Co my rown record of the proceedings and that accordingly,the person may need to �5`�7 ensure that a verbatim record of the /�`4�I I testiproceemony i made. Including which ich �`//// / testimony and evidence upon he such appeal is to be based. My commission expires Mast nangBaircloth r No.10585332 Sept.23,2024 Publication Cost: $311.68 Tax Amount: $0.00 Payment Cost: $311.68 Order No: 10585332 #of Copies: Customer No: 1125615 1 PO#: fiscal meetings TIIIS IS NOT AN INVOICE! Please do not use this form for payment remittance. NANCY HEYRMAN Notary Public State of Wisconsin Page 1 of 1 16 41A1 RESOLUTION 2025-01 A RESOLUTION OF THE BOARD OF SUPERVISORS DESIGNATING OFFICERS OF QUARRY COMMUNITY DEVELOPMENT DISTRICT, AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Quarry Community Development District (the "District"), is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statues; and WHEREAS,the Board of Supervisors(hereinafter the"Board")now desires to designate the Officers of the District per Chapter 190, Florida Statutes. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF QUARRY COMMUNITY DEVELOPMENT DISTRICT: 1. The following persons are elected to the offices shown, to wit: Chairperson Vice Chairperson Justin Faircloth Secretary Leah Popelka Treasurer Angel Montagna Assistant Treasurer Assistant Secretary Assistant Secretary Assistant Secretary 2. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this 13th day of January, 2025. ATTEST: QUARRY COMMUNITY DEVELOPMENT DISTRICT Name: Justin Faircloth Name: Secretary/Assistant Secretary Chair/Vice Chair of the Board of Supervisors 16 I1A1 The Quarry Alteration/Modification Application UPDATED10/3/2023 Submit Application and Required Items to:The Quarry Community Association,8975 Kayak Drive,Naples FL 34120 Property Address: 9962 Marbles Stone Dr Owner Name: JMP Investment Holdinas.LLc Owner's Cell: 1 (262)490-1849 Owner's Email: mpp( mrrhinn nnm Contact the management office with questions at 239-348-7326 (Opt 1) or at 8975 Kayak Drive. Office use only: x CHECK IF THIS IS PART OF AN ONGOING CONSTRUCTION APPLICATION APPROVED NOT APPROVED INCOMPLETE ADDT'L INFO NEEDED Follow-Up Notes: COMPLETE Association Stamp with date when the completed and signed VEC 0 4 �024 Application has been received with all Required Items attached. (e.g.site plan, paint chips, sec deposit, photos,etc.) Does project require Damage Deposit(s)? if Yes, how much? collected?Yes No Does project require a CDD variance agreement? if Yes, is the $500 fee collected + paperwork attached?Yes_No_ Owner to complete: Check Scope of Work(* Indicates Deposit Required): Doors/Windows Signs *Roof/Gutters/Downspouts/Drainage *Boat Dock/Lift/Canopy Play Equipment x *Patio/Walkway *Generator/Propane Tank *Solar Panels_Other Sculpture/Fountain/Statue/Antenna _Awning/Canopy/Shutters/Sunsail Shades_MiniSplit AC Landscaping (adding/removing trees;changing beds—attach before&after site plans) Screen Cage Modification Exterior Paint Stone Siding Addition/Removal/Color Change (sample required) By initialing you Confirm you are not using the same body paint color as a neighbor directly to your right or left Color scheme #: House body color: trim: garage door: front door Shutters: Other areas (specify where + color): Do you have a storm/secondary door? If yes, will you be painting it? if so,what color? Will you be painting your gutters + downspouts? if Yes, what color: gutters downspouts Do you have stonework?Y/ N, will you be removing/adding/painting/staining? Describe Scope of Work: (See Required Items and more information as necessary) Walkway leading from dock to cage entrance Estimated Start Date: 12-01-2024 Estimated Completion Date: 12-20-2024 1 16h Al Required Items (attach if applicable): Applications shall be considered by the Modification Committee (MC) only after all Required Items and deposits have been received. Pictures (required for all applications) include before and, if possible, proposed after pictures. n Site Plan (required for all except Exterior Paint/Doors + Windows applications) showing property lines, easements and location of work. o Sketch of Work on site plan including Floor Plans, Screening, Landscaping, etc. (Landscaping applications shall include before picture and after designs showing the names of plants). o Indude accurate measurements. c> Exterior Paint colors listed above under scope of work. Specify body,trim, garage, shutters, front door, gutters and downspout colors. If staining stone siding, sample required. c Prior to submitting a drawing of any modification or alteration that may affect the irrigation system, Owner shall contact the Association's Irrigation Vendor to identify any irrigation lines in the path of project. Owner shall provide a letter from the current Irrigation Vendor either: 1)confirming there are no irrigation lines in the project path; or 2) confirming that the Irrigation Vendor shall relocate existing irrigation lines at the expense of the Owner. Owner SHALL USE Association's Irrigation Vendor. c Owner shall provide Stone/Tile samples, pictures of Sculptures/Fountains with measurements, etc. o Any information that may assist the MC in completing the approval process. Recommended Contractor's Insurance: 1) bodily injury and property damage liability insurance in the amount of at least$1,000,000 per occurrence, 2) automobile liability insurance in the amount of$1,000,000 per occurrence, 3) statutory worker's compensation insurance and 4) employer's liability insurance in the amount of$1,000,000. Contractor shall maintain all insurance in force for the duration of the Work. In addition to the above, in the event the Scope of Work covered by this Application includes masonry, concrete, pool installation, roof replacement, tree removal, pool/screen enclosure replacement or the installation of a generator and/or propane tank, contractor shall provide the following additional coverage provisions on their commercial general liability, umbrella liability, and automobile liability policies, providing that 1) both the Owner and The Quarry Community Association, Inc. are named as additional insured, 2) insurance shall be primary and non-contributory, and 3) in the event any policy is cancelled or terminated, insurer will provide statutory notice.The endorsements shall identify the Owner's address where the work is to be performed. The Owner is strongly encouraged to require all persons or entities doing work on their property to obtain the aforementioned insurance coverages but regardless of any insurance coverage Owner acknowledges and agrees that: MOD (Initial) Pursuant to Section 7.3.3 of the Fourth Amended and Restated Declaration of Covenants, Conditions and Restrictions for the Quarry: Any damage to the Common Area or any structures, equipment, improvements or personal property thereon caused in whole or in part by an Owner or their family members, guests, tenants, licensees, and invitees shall be the responsibility of the Owner who shall reimburse the Community Association for all costs of repair or replacement, at the sole option of the Community Association, together with a reasonable allocation of overhead incurred. The Community Association shall not be required to delay repair or replacement pending receipt by Owner of any insurance proceeds. Mpp (Initial) Indemnification: To the fullest extent permitted by law, the Owner agrees to indemnify and hold harmless the Association, its directors, officers, members, agents and employees from and against all claims, damages, injuries, death, losses and expenses, including but not limited to attorneys'fees arising out of or resulting from the performance of the Work approved pursuant to this Application. Required Deposits by Contractor or Owner: • Contractor/Owner shall pay a $1,000 refundable damage deposit for applications covering the installation of a generator, propane tank, patio/driveway additions, walkway addition/expansion, roof, and solar panels. • Contractor/Owner shall pay a $2,000 refundable damage deposit for applications covering installation of a boat dock/lift. 2 16 11A1 Work Rules and Procedures: • All required county permits shall be obtained and displayed by Owner prior to beginning work. • Owner shall contact utilities to relocate their lines, as necessary. • Association common areas, including roadways, shall not be used for short or long term storage of materials. Excavated soil or rock shall not be placed on a roadway surface or any common areas. All waste, soil or rock, excess materials, fill, etc. shall be removed from the property within 48 hours. Use of any property other than Owner's lot where the work is being performed shall not be permitted. • Owners and contractors shall comply with all applicable codes and regulations and all required permits shall be obtained at Owner's expense. • Owner shall repair and return all areas affected by approved project to their original condition. • All current and future maintenance of the work completed under this application shall be performed at the Owner's expense. • Owner shall have permanent responsibility to maintain and trim all approved landscape modifications. No landscape materials may encroach on neighboring lots or common areas. • Pool heaters, satellite dishes, generators, propane tanks, and all other ground-based equipment or structures shall be screened from view with hedge plantings(i.e. Hibiscus, Eugenia or Viburnum)30"high, planted 18"on center and then maintained at a minimum of 42"high. • If at any time in the future, any legal/regulatory agency requires modification of the work covered by this application such work shall be done by the current Owner at current Owner's expense. • Each homeowner shall be responsible for ensuring that improvements to his or her property do not improperly encroach on any property subject to an easement or another's property. Per the Quarry CDD Counsel: "Notably, the Quarry Community Development District("CDD") is responsible for the stormwater system and conservation areas serving the community, and, accordingly, holds certain rights in, among other lands, all"Drainage Easements," "Lake Maintenance Easements,"and "Conservation Easements."It is the homeowner's responsibility to carefully review all property records and ensure that the homeowner and his or her contractor do not construct improvements (e.g., walkways, docks, landscaping, sprinklers, patios, decks, air conditioners, pools, drainage outfalls) within any such easement areas. (Note that such easements are identified on the community plats, but the plats may or may not correctly identify the CDD as the responsible party. Please contact the CDD if you are in doubt about any such easements.)The homeowner agrees that the CDD may remove at the homeowner's expense any such improvements encroaching on CDD easement areas, and the homeowner shall be responsible for any legal fees and costs necessary for the CDD to enforce the terms of this application as it relates to CDD easement areas. The CDD may in its sole discretion elect to grant limited variances in certain circumstances, and the homeowner is responsible for obtaining any such variance from the CDD prior to the start of any construction." • Structures shall not encroach on any easements. • Owner is solely responsible for ensuring hurricane shutter installations satisfy county code. Storm Shutters and permanently attached portions of the shutters shall complement the exterior home's color. • Owners who start projects without required permits or MC approval shall be issued a stop work order and are subject to sanction by the Board of Directors in accordance with the Bylaws. • Other than roadways to access the Owner's lot and house, Owners, Owner's agents or their contractors shall not use any portion of Association common areas or lots owned by others to stage equipment or materials or to perform work approved by the MC. • A certificate of completion and final inspection and approval by the Association shall be required as a condition for the return of refundable deposits paid by Owner or contractors. General Conditions 1. All work under this Application shall be subject to requirements of the Covenants, Conditions and Restrictions(CC&Rs) and Bylaws of the Quarry Community Association, Inc., and applicable Rules and Regulations and the Architectural Design Standards. The Association reserves the right to request additional information and charge additional fees or deposits, not otherwise specified on this Application. 3 1611A1 2. Owner agrees to and shall complete alteration/modification work in accordance with this Application. If approved work has not commenced within six months of the original approval date, this application shall be considered to be withdrawn and a new application shall be required if the Owner desires to later proceed with the work. Also any changes to approved work in progress shall require the Owner to submit an Application and obtain advance written approval form the Association. 3. In the Association's sole judgment, any work that does not conform to the provisions of the approved application may be required to be redone and/or the Owner shall be subject to Compliance provisions of the CC&Rs, induding sanctions, as imposed by the Board of Directors. Any work that is not completed within 30 days after the Estimated Completion Date may also be subject to Compliance provisions. Owners may request extensions of approved completion dates. However, granting extensions of completion dates shall be at the sole discretion of the Association. 4. All work must comply with the provisions of the current Architectural Design Standards regardless of any MC approval of the documents submitted by Owner either with this Application or otherwise 5. The Association has 45 days to complete its review of this application. The 45 day review period does not begin until the COMPLETED and signed application, including Deposits and Required Items, is received by the Association. The 45 day review period resets with the receipt of any and each MC request for information. The Application must be signed by the OWNER. All correspondence related to the application shall be sent only to OWNER. 6. All work covered by this application shall be subject to a final completion inspection and approval by the Association, per Article 13.5 of the CC&Rs with right of entry and inspection upon property. 7. MC approval should not be taken as any certification as to the construction worthiness or structural integrity of the change you propose. In addition, any changes that affect the Surface water and/or Storm water systems in the community in any way, will require the current Lot owner to mitigate the damages and correct the defect to the satisfaction of the QCA and/or CDD. (Article 6.4.3) 8. By signing below you are indicating that you understand you must wait for receipt of your written approval of the Application before beginning the foregoing alteration(s). Acknowledged and Agre by Owner: Owner's Signature(s): ,� � Date 11-12-2024 Signatures Date 11-12-2024 4 16 I1A1 ESTI MATE �� Prepared For COM CT I'AV E RSI NC Mark Peterson Revise again 9262 Marble Stone Drive, The Quarry Naples, Fl 34120 +2 62-490-184+9 Compact Pavers Inc. Estimate # 9839 P.O. Box 367955 Date 11/12/2024 Bonita Springs, FL 34136 Business / Tax# 82-546-6223 Phone: (239) 273-3553 Email: compactpaversinc@outlook.com Description Rate Quantity Total New Walkway $3,500.00 1 $3,500.00 Hi Jackie, Thank you. I believe we need an extra two feet outside the marble landing pad. Will that increase the price? See attached where it says Paver landing 2'. Also about leveling the lanai:Whay is the procedure to level it? Do you use a vibrating machine? Do you add sand? How flat should those tiles be? 1/8"variation? 1/16"? 1/32"? Or should it be perfectly flat? See Drawing below • Include all materials& labor • Prepare area for new walkway •Add swale for drainage • 42'x 4'&26'x 4' • Supply and install commercial screening sand as base to level out and have proper drainage • Secure border pavers in concrete around the perimeter so the pavers won't shift or move • 300 square feet including waste&cuts. • Color pavers: Glacier ( white&gray) •Thickness of pavers:2 3/8"(60mm) • Pattern:Standard • Style pavers: Mega Old Town Page 1 of a 161141 • Install soldier course border pavers around the perimeter • Compact pavers will use the plate compactor on top of new pavers &spread white sand between the joints of the pavers. • Pick up all job-related debris &leave job site clean daily. I- s - x Aro -J.- 'M"�!i t�'i Travertine repair- Pool Deck $500.00 1 $500.00 Repair high spot on pool deck See attached photos :: .i.;- , •- gm w�.- . Win -Z-Z� . Homeowner( HOA) $0.00 1 $0.00 Responsible for moving or capping sprinkler heads prior to work starting. Compact Pavers is not responsible for any sod, utilities& pipes damage during construction Check pavers upon arrival for correct color and shape. Drawing $0.00 1 $0.00 on Bottom Subtotal $4,000.00 Total $4,000.00 Pays 2 16 11A1 01. This is a legal and biding contract between the parties Compact Pavers Inc. and the individual named in estimate and invoice. 02. When installing pavers our terms will be 50% deposit After Filler has been installed, we will require a payment of 20%. After pavers are installed, we require we will require another payment of 20%. Balance due immediately after permit is approved. Customer will be required to install sod as their city or county requires to approve permit. Grading is not part of our estimate. Sod is not part of our estimate. Culvert measurements regarding sod installation and degrees in the installation are the responsibility of customer and sheets are usually by city. Sprinkler heads and sprinkler pipe need to be moved prior to demolition of existing driveway and or/new area and is the responsibility of customer. Septic Tanks or Underground Gas Containers must be pointed out Javier Lopez and marked brightly with paint or flags before we began work, Compact Pavers Inc. will not be if these items are damaged if they are not marked. Jobs that require permits may require a Hot Patch which customer will be required to pay for. Customer will need to Cape Coral residents need to locate the sewer pipe running from home to street and have it marked. 03. Pavers may take up to 3 to 11 weeks for delivery of less. Paver manufactures have different lead times 04. Project to be completed within 2-3 business days unless prohibited by weather pavers and unless permit is involved, and we must have inspections passed. 05. Installation will include everything needed to provide support and keep level. 06.job guaranteed for 1 year for any level changes & cracks on pavers or sides that loosen. 07. Homeowners will be responsible for costs of permits city or county and engineering plans or drawings. 08. During construction Compact Pavers Inc. will not be responsible for repairs for sod, electric, cable or irrigation. 09. Paver layout and sizes are optional. 10. Pavers will be installed by industry standards. 11. A charge of$35.00 each to cap sprinkler heads if necessary. 11. This proposal is subject to acceptance within 1 months and void thereafter at the option of the undersigned. 12.Payment will be accepted in bank transfer, Zelle, cash, check and if using a credit card, we will charge additional three percent. 13. Because 30mm and 60mm pavers are made from different molds the color may be slightly off. This also applies to pool coping. 14. On most paver orders we order extra material that the customer is not billed for. The reason being the wrong color or broken pavers might be in the middle of a pallet. We do not want to stop in the middle of construction and order extra pallets. So, if 1 or 2 pallets are left over, they were paid for by Compact Pavers, not the customer and there is no credit for these pallets and we will remove them. Page 3 of 4 16 I1A1 By signing this document, the customer agrees to the services and conditions outlined in this document. Mark Peterson Revise again Page 4 of 4 -- i6 11A1 !!) . 1 . ia ��� a i � i = �' �.t p s . 1 fii i i r ef If 01 • t ! t1i1iV " Ii st. i • t; = tr", 0, I/ - == I : 1 , F S r •;• i ; or i' i = '11 r il 21 i Cif il 12 a 7.,t .. Ya- - .. _ fit fi Z..21 -a ..1 .13 � siz .€ LI ; i1 , r: an =11 rt-� L. if 4 s - >,.. Iiiil* ... .., g 1.X _______ - 2 , 1111 ko•;1..... a .4 1........ ,. 1,1.11 iii al , >•-at I a2 ii4e44- t .i. L` _$ 114 s !; or, 7 El It Ee321211C&CAS3s..l.r.n - E ` € — 7. i a a F es p� _ _ i 11 ! a�t ti><_ II 3 :� a_''C C _ t T ____!_-�� - - ti L6 r.a i 3JGz Zt.29V i rq - Ai 14 n' It.y__ 16I1A1 /01 < > ----..., "-.. 3 _ck) 1 (5-064 fe____1 _ l 71 PltpAL Pia,ti-5 . q' f k q 1Cd- , e-- IL./ , ` d© \ iji Go 5e________ cp ,.:4-'1/41.--. `t' i V \ , .c t ' �a 1 'c ; . 1 j p.055 �' A, Aefee r t)pi V\ ail'. (.) 1° 1" i orib--- Qr o P-€/'6 ib 11A1 QUARRY COMMUNITY DEVELOPMENT DISTRICT APPLICATION FORM FOR VARIANCE FROM EASEMENT This form should be completed by homeowners who are applying to the Quarry Community Association ("HOA")to install improvements on a lot,where such installation may impact the easement rights of the Quarry Community Development District("CDD"). Notably,the CDD is responsible for the stormwater system and conservation areas serving the community,and,accordingly, holds certain rights in,among other lands,all "Drainage Easements," "Lake Maintenance Easements,"and"Conservation Easements."It is the homeowner's responsibility to carefully review all property records and ensure that the homeowner and his or her contractor do not construct improvements (e.g.,fences,landscaping,sprinklers, patios, decks,air conditioners,pools, etc.) within any such easement areas. (Note that such easements are identified on the community plats, but the plats may or may not correctly identify the CDD as the responsible party. Please contact the CDD if you are in doubt about any such easements.) While the CDD discourages such requests,the CDD may in its sole discretion elect to grant limited variances in order to allow improvements to be placed in an easement area where the improvements will not materially affect the CDD's stormwater system. To obtain such a variance, a homeowner must: 1.Complete this Application Form. 2. Provide a copy of any application materials submitted to the HOA, including but not limited to: a. Site Plan, b. Sketch of Work, and c. Design Plans 3.Submit a check for$500.00 to the CDD for the CDD's cost to review the application. Additional fees may be charged as well at cost,in the event that the CDD is required to spend additional monies on engineering and/or other consultants to review the application. 4.Complete and execute a Variance Agreement for Installation of Improvements within CDD Easement ("Variance Agreement"). 5. Provide a Certificate of Insurance showing: 1) bodily injury and property damage liability insurance in the amount of$1,000,000 per occurrence, 2)statutory worker's compensation insurance,3)employer's liability insurance,and 4)automobile liability insurance in the amount of$1,000,000 per occurrence,all of which shall be maintained in force for the duration of the work. The Certificate shall name the CDD as an additional insured. Once the information is provided, it will be reviewed by the CDD Staff,and your property will be inspected to determine whether a variance is appropriate. Then,a final determination will be made by either CDD Staff and/or the CDD's Board of Supervisors,and a notice will be sent indicating whether your application was approved or denied. If your application is approved,the Owner shall notify the CDD prior to commencing work and upon completing work,so that the CDD may inspect the applicable easement area. Any such inspection shall not be deemed an approval by the CDD of any work,and the CDD shall retain all rights to enforce the terms of the Variance Agreement. Please provide the following information: 1. Property Owner Name(s): JMP Investment Holdings.I I C-Mark&Jane Pererson 16 I1A1 2. Property Address: 9262 Marble Stone Drive 3. Cell Phone of Owner: (262)490-1a4s 4. Email Address of Owner: mpp(b?mrrhino corn 5. Describe Scope of Work: Paver walkway from cage to dock. 6. Estimated Start Date: 12-1-2024 7. Estimated Completion Date: 12-10-2024 8. Name and Contact Information for Contractor(s): Compact Pavers.Jackie Webpr.(239)273 3553 Acknowledged and agreed to by: OWNER OWNER Mark P. Peterson Jane M.Peterson SIGNATURE DATE SIGNATURE DATE PLEASE RETURN THIS COMPLETED FORM TO: Quarry Community Development District c/o District Manager Inframark Management Services 210 N University Drive,Suite 702 Coral Springs, Ft.33071 PLEASE NOTE THAT ANY INSPECTION DONE BY THE CDD IS FOR CDD PURPOSES ONLY AND MAY NOT BE RELIED UPON BY THE HOMEOWNER FOR ANY PURPOSE. NOTE TO STAFF:This form may contain confidential information. Please do not disclose its contents without first consulting the District Manager. PRIVACY NOTICE: Under Florida's Public Records Law,Chapter 119,Florida Statutes,the information you submit on this form may become part of a public record.This means that,if a citizen makes a public records request,we may be required to disclose the information you submit to us. Under certain circumstances,we may only be required to disclose part of the information submitted to us. If you believe that your records may qualify for an exemption under Chapter 119, Florida Statutes,please notify the District Manager,Bob Koncar by e-mail at bob.koncar@inframark.com or by phone at 904-626-0593 16 11A1 After recording,please return to: District Manager Quarry CDD c/o Inframark 210 North University Drive Suite 702 Coral Springs, Florida 33071 Parcel ID# LICENSE AGREEMENT FOR INSTALLATION OF IMPROVEMENTS THIS LICENSE AGREEMENT FOR INSTALLATION OF IMPROVEMENTS ("Agreement") is entered into as of this day of , , by and among ( "Owner") residing at , and the QUARRY COMMUNITY DEVELOPMENT DISTRICT ("CDD"), a local unit of special-purpose government created pursuant to Chapter 190, Florida Statutes, with a mailing address of 210 N. University Drive. Coral Springs, Florida 33071. RECITALS WHEREAS, Owner� is the owner of Lot 'f, as per the plat ("Plat") of I recorded in Plat Book ,Z • Page 5- et seq., of the Official Records of Collier County, Florida ("Property");and r WHEREAS, Owner desires to install and related appurtenances ("Improvements") within the ! -foot easement("Easement") located on said Property and as shown on the Plat("License Area");and WHEREAS, due to the CDD's legal interests in the Easement, among other reasons, Owner requires the CDD's consent before constructing improvements within any portion of the Easement;and WHEREAS, the CDD has agreed to consent to the installation of the Improvements within the License Area,subject to the terms and conditions set forth in this Agreement. Now, THEREFORE, in consideration of Ten and No/l00 Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is understood and agreed as follows: 1. RECITALS. The recitals set forth above are acknowledged as true and correct and are incorporated herein by reference. 2. LICENSE FOR IMPROVEMENTS INSTALLATION AND MAINTENANCE; LIMITATION. Subject to the terms of this Agreement,the CDD hereby grants Owner the right,privilege, and permission to install and maintain removable Improvements on the License Area. 3. OWNER RESPONSIBILITIES. The Owner has the following responsibilities: 1611A1 a. The Owner shall be fully responsible for the installation and maintenance of the Improvements. b. The Owner shall be responsible for ensuring that the installation and maintenance of the Improvements are conducted in compliance with all applicable laws (including but not limited to building codes,set back requirements,etc.). c. CDD, by entering into this Agreement,does not represent that CDD has authority to provide all necessary approvals for the installation of the Improvements. Instead, the Owner shall be responsible for obtaining any and all applicable permits and approvals relating to the work (including but not limited to any approvals of the Quarry Community Association, Inc. ("Association"),as well as any other necessary legal interests and approvals). d. The Owner shall ensure that the installation and maintenance of the Improvements does not damage any property of CDD or any third party's property, and, in the event of any such damage, the Owner shall immediately repair the damage or compensate the CDD for such repairs,at the CDD's option. e. Owner's exercise of rights hereunder shall not interfere with CDD's rights under the Easement, or with any other applicable rights. Owner agrees that CDD, in its sole and absolute discretion, shall determine whether any such interference exists. Further, the Improvements shall be installed in such a manner as to not interfere with or damage any improvements, whether above or below ground. that may be located within the Easement, or any utilities within the public utility easement, if any. It shall be Owner's responsibility to locate and identify any such improvements and/or utilities. Further, the Owner shall pay a licensed and insured professional contractor to mark any existing improvements and/or utilities prior to installation of the Improvements. f. Upon completion of the installation, the Improvements will be owned by the Owner. Owner shall be responsible for the maintenance and repair of the Improvements, and agrees to maintain the Improvements in good and working condition. g. Additionally,the Owner shall keep the License Area free from any materialmen's or mechanic's liens and claims or notices in respect to such liens and claims, which arise by reason of the Owner's exercise of rights under this Agreement, and the Owner shall immediately discharge any such claim or lien. 4. REMOVAL AND/OR REPLACEMENT OF IMPROVEMENTS. The permission granted herein is given to Owner as an accommodation and is revocable by the CDD at any time. Owner acknowledges the legal interest of the CDD in the Easement and agrees never to deny such interest or to interfere in any way with CDD's use. Owner will exercise the privilege granted herein at Owner's own risk, and agrees that Owner will never claim any damages against CDD for any injuries or damages suffered on account of the exercise of such privilege, regardless of the fault or negligence of the CDD. Owner further acknowledges that, without notice, the CDD may remove all, or any portion or portions,of the Improvements installed upon the License Area at Owner's expense,and that the CDD is not obligated to re-install the Improvements to its original location and is not responsible for any damage to the Improvements,or its supporting structure as a result of the removal. 5. INDEMNIFICATION. Owner agrees to indemnify, defend and hold harmless the CDD, as well as any officers, supervisors, staff, agents and representatives, and successors and assigns, of the foregoing, against all liability for damages and expenses resulting from, arising out of, or in any way connected with, this Agreement or the exercise of the privileges granted hereunder. Without intending Page 2 of 6 16 11A1 to limit the extent of Owner's indemnification obligation, and for the purpose of illustrating the extent of such obligation. Owner hereby agrees that the indemnification provided for herein shall extend to any and all injuries that may occur as a result of the installation of the Improvements, including, but not limited to, slip and fall injuries that may occur by virtue of the use of the Improvements. 6. COVENANTS RUN WITH THE LAND. This Agreement, and all rights and obligations contained herein, shall run with the land and shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors and assigns, including, but without limitation, all subsequent owners of any portions of the property described herein and all persons claiming under them. Whenever the word "Owner" is used herein, it shall be deemed to mean the current owner of the Property and its successors and assigns. Upon the sale of the Property, the Owner shall advise the subsequent owner of the terms and conditions of this Agreement. 7. SOVEREIGN IMMUNITI. Nothing in this Agreement shall be deemed as a waiver of immunity or limits of liability of the CDD beyond any statutory limited waiver of immunity or limits of liability which may have been adopted by the Florida Legislature in section 768.28, Florida Statutes, or other statute, and nothing in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred under the doctrine of sovereign immunity or by operation of law. 8. ATTORNEV'S FEES AND COSTS. The prevailing party in any litigation to enforce the terms of this Agreement shall be entitled to reasonable attorney's fees and costs. 9. COUNTERPARTS. This Agreement may be executed in any number of counterparts. Any party hereto may join into this Agreement by executing any one counterpart. All counterparts when taken together shall constitute but one and the same instrument constituting this Agreement. [Signature pages follow] Page 3 of 6 1611A1 IN WITNESS WHEREOF, the parties have caused these presents to be executed on the day and year first above written. WITNESSES: OWNER , / By: (✓ By: Print Name Print ame ay</:::)2e _7 s/. /L.-ti Print Name / STATE OF FLORIDA COUNTY OF C',tc �. (c-- ) i The foregoing instrument was acknowledged before me this day of , 20i-1j, by _ She/He [ ] is personally known to me or [ ] produced as identification. 1 ���►"•••, MARIA FIERMONTI 1 11/4C-1.•,�l �/ r��� Notary Public•State of Flortida NOTAl Y PUBLIC ti Commission HH 388s5 or My Comm.Expires Mar 2.12027 4 Bonded through National Notary Assn. 01 4,\e �Xort _y4--t (Print,Type or Stamp Commissioned Name of Notary Public) [signatures continue on following page] Page 4 of 6 16ilA1 [SIGNATURE PAGE TO LICENSE AGREEMENT FOR INSTALLATION OF IMPROVEMENTS] WITNESSES: OWNER By: lam/ — • By: Lam- - /` • / ,/)- A ), , Print N P 'it y �� 441 i G-of K72-- a .--/9 Print Name STATE OF FLOIiD a ) COUNTY OF ti ) -- � The foregoing instrument was acknowledged before me this [2 day of , 201 , by . She/He ['-] is personally known to me or [ ] produced as identification. 4sp'`••. MARIAFIERMONTI . Notary PuDtic State of Florida ' Commission ki....L"-S4., aM HN 3688t6 ARY PUBLIC Horn. My Comm.Expires Mar 2.2027 Bonded through National Notary Assn. '\"ka\., \ (-k \7- -e f nr\-,-A--1 (Print,Type or Stamp Commissioned Name of Notary Public) [signatures continue on following page] Page 5 of 6 1611A1 [SIGNATURE PAGE TO LICENSE AGREEMENT FOR INSTALLATION OF IMPROVEMENTS] WITNESSES: QUARRY COMMUNITY DEVELOPMENT DISTRICT By: By: Chairman, Board of Supervisors Print Name By: Print Name STATE OF FLORIDA COUNTY OF ) The foregoing instrument was acknowledged before me this _ day of 2011i, by ,as of the Board of Supervisors of the Quarry Community Development District, on behalf of said district. She/He [ j is personally known to me or [ ] produced as identification. NOTARY PUBLIC Justin Faircloth (Print.Type or Stamp Commissioned Name of Notary Public) [End of signature pages] Page 6 of 6 INSTR 6226024 OR 6103 PG 1276 E-RECORDED 3/26/2022 2:34 PM PAGES 2 16 ' 1 A 1 CLERK OF THE CIRCUIT COURT AND COMPTROLLER, COLLIER COUNTY FLORIDA DoC@.70 $21,000.00 REC $18.50 CONS $3,000,000.00 Prepared by: Altro LLP David A.Altro,Esq. 155 University Ave,Suite 300 Toronto,Ontario M5H 3B7 When Recorded.Return' o: Woods,Weidenmi , etti&Rudnick,LLP Vanderbilt Gallena M ' Office 9045 Strada Steil C 0 Naples,Florida 34109 . '"_ WARRANTY DEED This Indenture made this 18h y,of March, 2022, between DIANNE ELIZABETH LAKE, n/k/a DIANNE ELIZABETH DUDAS, ilvid ally and as Trustee of THE STONE LAKE TRUST,under agreement dated the 12th day of April; 1. ,(address: 1136 Birchview Road, Douro-Dummer, Ontario, KOL 2H0, Canada)(hereinafter called.thc Grantor*)and JMP INVESTMENT HOLDINGS,LLC,a Wisconsin limited liability company,(aVtess;W2693 Bakertown Road,Helenville, WI 53137,USA) (hereinafter called the Grantee*) / ` WITNESSETH, That said grantor, fo meonsideration of the sum of TEN AND 00/100'S ($10.00)Dollars and other good and valuable co stS ide ons to said grantor in hand paid by said grantee, the receipt whereof is hereby acknowledged, has g *gained and sold to the grantee and grantee's heirs and assigns forever the following described land to e, mg and being in Collier County,Florida, to-wit: Lot 15, Block E, Quarry Phase 1, according to th,s.p F orded in Plat Book 42, pages 57 hei<-Co through 67,inclusive,of the Public Records of Col ty,Florida. The Grantors are not residents of the State of Florida and ,Oeit QQot declared Florida as their domicile, and the above-described property is not the homestead of an 1'the Grantor, Grantor's spouse and/or dependent(s)nor is the same contiguous to the homestead of the-Gro,rifor4 Grantor's spouse and/or dependents. t ) TOGETHER WITH all the tenements,hereditaments and appurtenaficesal e, to belonging or in anywise appertaining. TO HAVE AND TO HOLD,the same in fee simple forever. AND said grantor hereby covenants with said grantee that it is lawfully seized of said land in fee simple; that it has good right and lawful authority to sell and convey said land; that it does hereby fully warrant the title to said land,and will defend the same against the lawful claims of all persons whomsoever. *"grantor"and"grantee"are used for singular or plural,as context requires. 1611A1 Quarry CDD Action Items List Updated 1/8/25 BOARD ACTION ITEMS DATE RESPONSIBLE LAST DUE DATE RECEIVED PARTY CONTACT 1 Develop contract amdendment with Collier Environmental Services for a price 12/9/2024 Attorney 1/31/2025 increase as approved by the Board for lake management services. 2 Send letter to Quality Enterprises after receiving documentation from CPH regarding 5/13/2024 Attorney TBD 12/2/2024 blocked structures. 3 Work on the easement request for property access 10/9/2023 Attorney TBD 12/2/2024 4 Develop final closure letter for Glase Golf Phase I&Phase II projects 9/9/2024 Attorney TBD 12/2/2024 5 Have the Goals&Objectives document posted to the website as required by 7/15/2024 District Manager 12/1/2025 9/9/2024 12/1/2025 6 Work with outside counsel on possible FEMA extension for further District 10/9/2023 District Manager TBD 1/6/2025 reimbursement 7 Obtain proposals for gate install for the north east corner of the preserve fence and 5/13/2024 District Manager 1/31/2025 1/8/2025 any necessary repairs. 8 9/18/2023 District Manager TBD 11/25/2024 Update variance application form 9 Have Alligator Flag&Cuban Bullrush treated on lakes 62,64,56,55,45,&54 12/12/2024 District Manager 1/31/2025 1/6/2025 10 Update Board every two weeks on action items. 3/11/2024 District Manager 12/23/2024 12/2/2024 11 Print hard copy of the variance agreement list for Mr.Britt 12/9/2024 District Manager 1/13/2025 12 Review and provide comment on the 9160 Flit Court Drainage inqury from the QCA 11/11/2024 Engineer 12/9/2024 12/2/2024 13 Investigate structures before and after work is completed,provide a list of locations 10/9/2023 Engineer TBD 11/11/2024 for the QCA where work is going to be performed,and list work completed by MRI from Estimate 4324 on the District's maps for future reference 14 Have the Quality Enterprises,USA Phase II&Phase III Warranty Inspection repairs 2022 Engineer TBD 12/2/2024 completed 15 Complete Phases 1-3 of Work Authorization#6 Shoreline Restoration Design 2024 3/11/2024 Engineer TBD 12/9/2024 and publish the RFP after incorporating Supervisor Comments 16 Schedule a Finance Staff Representative to be present at the 2/10/25 meeting and 5/13/2024 Finance 2/10/2025 7/17/2024 at the 8/11/25 meeting. 17 Ensure yearly audit is submitted by 6/30 10/1/2023 Finance 6/30/2025 8/24/2024 18 11/13/2023 Recording 12/9/2024 1/8/2025 Send out bank rate sheet to the Board on a monthly basis 19 Appoint Supervisors to seat 5 as no one qualified for this seat.Advertise vacancy. 7/15/2024 Recording TBD TBD 20 Complete Ethics Training Requirement 1/1/2024 Supervisors 12/31/2024 11/11/2024 LAKE BANK RESTORATION ACTION ITEMS 1 Follow up with Glase Golf on Pay Apps including NAVD overages on Phase I& 10/9/2023 Engineer TBD 12/2/2024 Phase II projects,and inquire aobut restocking fees for items not used 2 Follow up with Glase Golf on floating pipe issues 2/12/2024 Engineer Dry Season 11/11/2024 3 Secure and reattach Lake 57 section of pipe as reported by Mr.Patrick on 3/30/24 3/30/2024 Glase Golf TBA 11/11/2024 QCA/HOME OWNER REQUESTS 1 Have pool overflow extension removed from 9171 Shale Court 7/15/2024 QCA 12/4/2024 12/2/2024 Have homeowner correct drainage install at 8986 Quarry Drive 10/14/2024 QCA 12/1/2024 12/2/2024 16 11A1 Quarry Community Development District Financial Report October 1, 2024-November 30, 2024 6INFRAMARK INFRASIRUCTURE MANAGEMENT SERVICES QUARRY 1 6 I 1 A 1 Community Development District Table of Contents FINANCIAL STATEMENTS Balance Sheet-All Funds Page 1 Statement of Revenues, Expenditures and Changes in Fund Balance General Fund Pages 2-3 204-Series 2020 Debt Service Fund Page 4 304-Series 2020 Capital Projects Fund Page 5 Trend Report-General Fund Pages 6-7 Notes to the Financial Statements Page 8 SUPPORTING SCHEDULES Special Assessments-Collection Schedule(s) Page 9 Cash and Investment Report Page 10 Bank Reconciliation Page 11 Series 2020(FEMA Project) Pages 12-14 Cash Flow Analysis-General Fund Page 15 Payment Register by Bank Account Page 16 16 11A1 Quarry Community Development District Financial Statements (Unaudited) October 1, 2024 - November 30, 2024 QUARRY 16 11 A 1 Community Development District Governmental Funds Balance Sheet November 30, 2024 204-SERIES 2020 304-SERIES 2020 DEBT SERVICE CAPITAL ACCOUNT DESCRIPTION GENERAL FUND FUND PROJECTS FUND TOTAL ASSETS Cash-Checking Account $ 1,228,810 $ - $ - $ 1,228,810 Accounts Receivable 28,736 - - 28,736 Due From Other Funds - 346,541 - 346,541 Investments: Money Market Account 985,995 - - 985,995 Construction Fund - - 1,845,717 1,845,717 Revenue Fund - 517,615 - 517,615 TOTAL ASSETS $ 2,243,541 $ 864,156 $ 1,845,717 $ 4,953,414 LIABILITIES Accounts Payable $ 74,918 $ - $ - $ 74,918 Accrued Expenses 88,725 - - 88,725 Contracts Payable - - 337,404 337,404 Retainage Payable - - 40,353 40,353 Due To Other Funds 346,541 - - 346,541 TOTAL LIABILITIES 510,184 - 377,757 887,941 FUND BALANCES Restricted for: Debt Service - 864,156 - 864,156 Capital Projects - - 1,467,960 1,467,960 Assigned to: Operating Reserves 175,439 - - 175,439 Reserves-Other 200,000 - - 200,000 Unassigned: 1,357,918 - - 1,357,918 TOTAL FUND BALANCES $ 1,733,357 $ 864,156 $ 1,467,960 $ 4,065,473 TOTAL LIABILITIES&FUND BALANCES $ 2,243,541 $ 864,156 $ 1,845,717 $ 4,953,414 Page 1 16 11A1 QUARRY Community Development District General Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending November 30, 2024 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE AS A%OF NOV-24 ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL REVENUES Interest-Investments $ 4,000 $ 14,082 352.05% $ 7,319 Golf Course Revenue 114,945 28,736 25.00% - Special Assmnts-Tax Collector 814,044 192,511 23.65% 189,489 Special Assmnts-Discounts (32,562) (6,077) 18.66% (5,930) TOTAL REVENUES 900,427 229,252 25.46% 190,878 EXPENDITURES Administration P/R-Board of Supervisors 12,000 2,000 16.67% 1,000 FICA Taxes 918 153 16.67% 77 ProfServ-Arbitrage Rebate 600 - 0.00% - ProfServ-Engineering 45,000 1,080 2.40% 1,080 ProfServ-Legal Services 21,000 - 0.00% - ProfServ-Legal Litigation 25,000 625 2.50% 625 ProfServ-Mgmt Consulting 64,154 10,692 16.67% 5,346 ProfServ-Property Appraiser 34,294 7,526 21.95% - ProfServ-Trustee Fees 4,041 - 0.00% - Auditing Services 5,500 - 0.00% - Website Compliance 1,553 388 24.98% - Postage and Freight 600 3 0.50% 3 Insurance-General Liability 7,644 7,227 94.54% - Printing and Binding 500 - 0.00% - Legal Advertising 4,000 - 0.00% - Miscellaneous Services 1,998 97 4.85% 97 Misc-Bank Charges 500 - 0.00% - Misc-Special Projects 18,279 - 0.00% - Misc-Assessment Collection Cost 16,281 3,729 22.90% 3,671 Payroll Services - 13 0.00% 13 Misc-Contingency 1,000 - 0.00% - Office Supplies 250 - 0.00% - Annual District Filing Fee 175 175 100.00% - Total Administration 265,287 33,708 12.71% 11,912 Field ProfServ-Field Management 5,464 911 16.67% 455 Contracts-Preserve Maintenance 103,830 25,958 25.00% - Contracts-Lake Maintenance 65,004 10,834 16.67% 5,417 R&M-General 70,000 4,175 5.96% 4,175 Page 2 16 11A1 QUARRY Community Development District General Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending November 30, 2024 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE AS A%OF NOV-24 ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL R&M-Fence 2,500 - 0.00% - R&M-Lake 184,672 - 0.00% - R&M-Weed Harvesting 75,000 15,660 20.88% 15,660 Miscellaneous Maintenance 3,670 - 0.00% - Capital Projects 75,000 12,670 16.89% 12,670 Total Field 585,140 70,208 12.00% 38,377 Reserves Reserve-Other 50,000 - 0.00% - Total Reserves 50,000 - 0.00% - TOTAL EXPENDITURES&RESERVES 900,427 103,916 11.54% 50,289 Excess(deficiency)of revenues Over(under)expenditures - 125,336 0.00% 140,589 Net change in fund balance $ - $ 125,336 0.00% $ 140,589 FUND BALANCE, BEGINNING(OCT 1, 2024) 1,608,021 1,608,021 FUND BALANCE, ENDING $ 1,608,021 $ 1,733,357 Page 3 ib { lA1 QUARRY Community Development District 204-Series 2020 Debt Service Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending November 30, 2024 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE AS A%OF NOV-24 ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL REVENUES Interest-Investments $ - $ 5,179 0.00% $ 2,558 Special Assmnts-Tax Collector 1,472,226 348,162 23.65% 342,697 Special Assmnts-Discounts (58,889) (10,990) 18.66% (10,724) TOTAL REVENUES 1,413,337 342,351 24.22% 334,531 EXPENDITURES Administration Misc-Assessment Collection Cost 29,445 6,743 22.90% 6,639 Total Administration 29,445 6,743 22.90% 6,639 Debt Service Principal Debt Retirement 1,128,000 - 0.00% - Interest Expense 242,772 121,386 50.00% 121,386 Total Debt Service 1,370,772 121,386 8.86% 121,386 TOTAL EXPENDITURES 1,400,217 128,129 9.15% 128,025 Excess(deficiency)of revenues Over(under)expenditures 13,120 214,222 1632.79% 206,506 OTHER FINANCING SOURCES(USES) Contribution to(Use of) Fund Balance 13,120 - 0.00% - TOTAL FINANCING SOURCES(USES) 13,120 - 0.00% - Net change in fund balance $ 13,120 $ 214,222 1632.79% $ 206,506 FUND BALANCE,BEGINNING(OCT 1,2024) 649,934 649,934 FUND BALANCE,ENDING $ 663,054 $ 864,156 Page 4 16 I1AZ QUARRY Community Development District 304-Series 2020 Capital Projects Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending November 30, 2024 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE AS A%OF NOV-24 ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL REVENUES Interest-Investments $ - $ 14,985 0.00% $ 7,402 TOTAL REVENUES - 14,985 0.00% 7,402 EXPENDITURES Construction In Progress Construction in Progress - 3,100 0.00% 3,100 Total Construction In Progress - 3,100 0.00% 3,100 TOTAL EXPENDITURES - 3,100 0.00% 3,100 Excess(deficiency)of revenues Over(under)expenditures - 11,885 0.00% 4,302 Net change in fund balance $ - $ 11,885 0.00% $ 4,302 FUND BALANCE,BEGINNING(OCT 1,2024) - 1,456,075 FUND BALANCE, ENDING $ - $ 1,467,960 Page 5 16 11A1 o N • a I CO o cr v otOU, o a o o CO r o <0 o o v o v< m o 2m'a w v N J 0 _ v o " 0 v o _ N < o as n- v v m m CV ti or v N of M N n v ,n n e N 0 CD d a CO coco CV 0 v 4 0 o 0 o ce,� v • o o " v o rn v0�i `0v' o N ,M CO 0 "n m M � � " � � � � � - � � � � a m z w t a • N CO- a w r en N o To CO E. a IA _ a .- ... 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J § } tei , - - - I2 - ler - ■ —, !� Q � - z _ & 0 CS / 0 / a — m . . . 2 o0 , , » o000 co LL 0. 00 • z & O. z &^ et /C ce co \ ( � . \ or . , CO 45 or�k - � - §k ! \ co £� , 2 , or� J 2 7 CO' a 7 I £ CO CV CO CV CO 2 , CL 7 . . " cm w ) , ! CO) ° • CO - � I k — , ° \ • ° . \ - - > 0 £ - \ \ \ CO ■ et co cn o CO , . . 01 an 0 CO CO 0 o ; % z 06 & � z z C £ CO ; ! \ . . . z » _ . I n � � � , �;74 � } . . o . o r cr. . . ea at $ 2 » R § k CO & \ $ a ) CO = 2 $ to 10 aC)E 'Cl* ( \ � \ §_ \ {\ II 2 _ a k co k ` f ( � � a7 § i7 O ' til f & E \ } 2ii / £ | ( § L. _ co co 0 � E . . . . e ) )� w IX Do ° � � QUARRY 16 1 1 A 1 Community Development District Statement of Revenue and Expenditures-All Funds Notes to the Financial Statements 10/1/2024.11/30/2024 'General Fund Variance Analysis Budget target: 16.67% Annual YTD %of Account Name Budget Actual Budget Explanation Expenditures Administration ProfServ-Property Appraiser $34,294 $7,526 22% Collier County PA to-date Website Compliance $1,553 $388 25% Innersync Studio,quarterly web/compliance services Insurance-General Liability $7,644 $7,227 95% EGIS Insurance FY 2025 paid in full Field Contracts-Preserve Maintenance $103,830 $25,958 25% Peninsula Improvement,quarterly maintenance Oct 2024 thru Sept 2025 R&M-Weed Harvesting $75,000 $15,660 21% Pennisula Improvement to-date Page 8 16 11A1 Quarry Community Development District Supporting Schedules October 1, 2024 - November 30, 2024 QUARRY 16 11 A 1 Community Development District All Funds Non-Ad Valorem Special Assessments - Collier County Tax Collector (Monthly Collection Distributions) For the Fiscal Year Ending September 30, 2025 ALLOCATION BY FUND Discount/ Gross Series 2020 Date Net Amount (Penalties) Collection Amount General Debt Service Received Received Amount Cost Received Fund Fund Assessments Levied $ 2,286,271 $ 814,046 $ 1,472,226 Allocation % 100.00% 35.61% 64.39% Real Estate-Installment 10/31/24 $ 7,913 $ 413 $ 161 $ 8,487 $ 3,022 $ 5,465 11/14/24 613 - 13 626 223 403 Real Estate-Current 11/08/24 16,228 890 331 17,449 6,213 11,236 11/14/24 211,142 3,977 4,309 219,428 78,129 141,299 11/21/24 277,238 11,787 5,658 294,683 104,924 189,759 TOTAL $ 513,134 $ 17,067 $ 10,472 $ 540,673 $ 192,511 $ 348,162 %COLLECTED 23.65% 23.65% 23.65% TOTAL OUTSTANDING $ 1,745,598 $ 621,534 $ 1,124,063 Page 9 QUARRY 1 6 I 1 Community Development District Cash & Investment Report October 1, 2024-November 30, 2024 ACCOUNT NAME BANK NAME YIELD BALANCE OPERATING FUND Government Interest Checking Valley National Bank 4.85% $ 1,228,810 Public Funds MMA Variance Account BankUnited 4.75% 985,995 Subtotal 2,214,805 DEBT SERVICE AND CAPITAL PROJECT FUNDS Series 2020 Revenue Fund U.S. Bank 4.50% 517,615 Series 2020 Construction Fund U.S. Bank 4.50% 1,845,717 Total $ 4,578,137 Page 10 lb h Al Bank Account Statement Friday,December 27,2024 Page 1 Quarry CDD SINGUANZO2 Bank Account No. 7852 Statement No. 11-24 Statement Date 11/30/2024 G/L Account No.101002 Balance 1,228,810.24 Statement Balance 1,244,720.37 Outstanding Deposits 0.00 Positive Adjustments 0.00 Subtotal 1,244,720.37 Subtotal 1,228,810.24 Outstanding Checks -15,910.13 Negative Adjustments 0.00 Ending Balance 1,228,810.24 Ending G/L Balance 1,228,810.24 Document Cleared Posting Date Type Document No. Description Amount Amount Difference Outstanding Checks 11/08/2024 Payment 100003 Inv:CESI-020989,Inv:CESI-021023 -15,347.00 11/08/2024 Payment 100007 Inv:INV-SN-398 -388.13 11/22/2024 Payment 15110 Payment of Invoice 001308 -175.00 Total Outstanding Checks -15,910.13 Page 11 16 11A1 QUARRY Community Development District Series 2020 (FEMA Project) Acquisition and Construction -General FY 9/30/2025 SOURCES OF FUNDS TOTAL 10/1/2021 State of Florida $ 3,350,061.50 10/26/2021 State of Florida 828,145.56 10/26/2021 State of Florida 46,008.09 11/17/2021 State of Florida 94,901.34 11/17/2021 State of Florida 91,213.19 12/21/2021 State of Florida 65,276.88 12/17/2021 FEMA check sent to U.S.Bank exceeded actual checks - 1/10/2022 State of Florida 18,585.00 1/10/2022 State of Florida 1,032.50 Total $ 4,495,224.06 LESS: 11/1/2021 Debt Service-Principal Prepayment 1,351,000.00 DEPOSIT-Acquisition and Construction-General $ 3,144,224.06 OTHER SOURCES 11/1/2021 Transfer from Revenue Acct 4004 938.50 Dividends FY 2022 145.89 Dividends FY 2023 44,143.78 Dividends thru 9/30/24 109,550.78 Dividends thru 11/30/24 14,984.69 TOTAL SOURCES OF FUNDS $ 169,763.64 USE OF FUNDS: DATE VENDOR REQUISITIONS REQ# PENDING TOTAL 4/27/2022 CPH 1 4,940.00 4/27/2022 Kutak Rock LLP 2 988.00 5/24/2022 Midwest Construction Products Corp 3 475.00 5/16/2022 Midwest Construction Products Corp 4 3,000.00 5/16/2022 Midwest Construction Products Corp 5 7,900.00 5/24/2022 Kutak Rock LLP 6 1,776.45 5/24/2022 CPH 7 11,615.40 6/9/2022 Kutak Rock LLP 8 1,378.00 6/9/2022 Midwest Construction Products Corp 9 1,900.00 6/9/2022 Midwest Construction Products Corp 10 4,800.00 6/9/2022 Midwest Construction Products Corp 11 1,425.00 6/9/2022 Crosscreek Environmental LLC 12 2,997.66 8/1/2022 CPH 13 27,155.66 8/1/2022 CPH 14 1,800.00 8/1/2022 CPH 15 33,809.58 8/22/2022 Crosscreek Environmental LLC 16 4,000.13 8/22/2022 Midwest Construction Products Corp 17 6,000.00 8/22/2022 Midwest Construction Products Corp 18 1,020.00 Page 12 QUARRY 1 6 ' 1 A 1 Community Development District Series 2020 (FEMA Project) Acquisition and Construction-General FY 9/30/2025 SOURCES OF FUNDS TOTAL 8/22/2022 MJS Golf Services LLC 19 7,615.15 8/22/2022 MJS Golf Services LLC 20 4,157.51 8/22/2022 MJS Golf Services LLC 21 12,849.68 8/22/2022 MJS Golf Services LLC 22 6,568.09 8/22/2022 MJS Golf Services LLC 23 5,058.60 8/22/2022 MJS Golf Services LLC 24 16,849.00 8/22/2022 MJS Golf Services LLC 25 49,004.13 8/22/2022 MJS Golf Services LLC 26 4,346.44 8/26/2022 CPH 27 7,745.15 9/14/2022 MJS Golf Services LLC 28 7,887.77 9/14/2022 Glase Golf,Inc 29 319,983.78 10/20/2022 Crosscreek Environmental LLC 30 5,295.80 10/20/2022 CPH 31 6,513.38 10/20/2022 Kutak Rock LLP 32 78.00 12/2/2022 CPH 33 8,866.67 12/21/2022 CPH 34 4,500.00 1/25/2023 CPH 35 5,398.75 2/17/2023 CPH 36 1,828.75 2/17/2023 CPH 37 110.00 4/17/2023 MJS Golf Services LLC 38 17,952.64 4/17/2023 MJS Golf Services LLC 39 2,844.35 4/17/2023 MJS Golf Services LLC 40 5,715.47 4/17/2023 MJS Golf Services LLC 41 10,351.76 5/2/2023 MJS Golf Services LLC 42 4,619.04 5/2/2023 MJS Golf Services LLC 43 4,014.17 5/2/2023 CPH 44 560.60 5/2/2023 MJS Golf Services LLC 45 14,377.92 5/2/2023 MJS Golf Services LLC 46 2,876.79 5/2/2023 MJS Golf Services LLC 47 5,672.47 5/2/2023 MJS Golf Services LLC 48 14,338.68 5/3/2023 MJS Golf Services LLC 49 5,153.28 5/3/2023 Midwest Construction Products Corp 50 3,302.00 5/3/2023 Midwest Construction Products Corp 51 5,248.00 5/3/2023 Midwest Construction Products Corp 52 2,637.00 5/3/2023 CPH 53 9,283.60 5/3/2023 MJS Golf Services LLC 54 8,194.20 6/13/2023 MJS Golf Services LLC 55 14,425.44 6/13/2023 Ewing Irrigation Products,Inc 56 34,725.39 5/30/2023 MJS Golf Services LLC 57 3,993.31 5/30/2023 MJS Golf Services LLC 58 16,314.17 6/13/2023 Midwest Construction Products Corp 59 5,251.00 6/13/2023 Midwest Construction Products Corp 60 2,637.00 6/13/2023 MJS Golf Services LLC 61 2,294.58 6/13/2023 MJS Golf Services LLC 62 12,704.54 6/13/2023 MJS Golf Services LLC 63 14,018.04 6/13/2023 MJS Golf Services LLC 64 8,564.45 Page 13 QUARRY 16 I 1 A 1 Community Development District Series 2020 (FEMA Project) Acquisition and Construction -General FY 9/30/2025 SOURCES OF FUNDS TOTAL 6/13/2023 MJS Golf Services LLC 65 11,911.32 7/26/2023 Midwest Construction Products Corp 66 950.00 7/26/2023 Midwest Construction Products Corp 67 5,447.00 7/20/2023 Midwest Construction Products Corp 68 392.00 7/20/2023 Midwest Construction Products Corp 69 870.00 7/20/2023 Midwest Construction Products Corp 70 392.00 7/20/2023 CPH 71 11,485.79 7/20/2023 MJS Golf Services LLC 72 9,372.24 7/20/2023 MJS Golf Services LLC 73 5,298.36 7/20/2023 MJS Golf Services LLC 74 18,759.39 7/20/2023 MJS Golf Services LLC 75 8,737.08 7/20/2023 Crosscreek Environmental LLC 76 15,626.44 7/26/2023 Glase Golf,Inc 77 115,089.05 7/26/2023 MJS Golf Services LLC 78 6,330.90 7/26/2023 MJS Golf Services LLC 79 3,984.81 8/14/2023 MJS Golf Services LLC 80 3,086.64 7/26/2023 MJS Golf Services LLC 81 2,040.72 7/26/2023 MJS Golf Services LLC 82 1,031.52 7/27/2023 CPH 83 16,267.89 7/27/2023 CPH 84 20,538.00 8/22/2023 Midwest Construction Products Corp 85 582.00 8/22/2023 Midwest Construction Products Corp 86 600.00 8/22/2023 Crosscreek Environmental LLC 87 6,998.12 9/13/2023 Inframark 88 2,425.00 9/13/2023 CPH 89 27,466.95 1/9/2024 MJS Golf Services LLC 90 1,082.64 1/8/2024 The Quarry Community Association 91 2,863.80 1/8/2024 Kutak Rock LLP 92 234.00 1/8/2024 CPH 93 6,136.50 1/8/2024 Midwest Construction Products Corp 94 600.00 2/16/2024 CPH 95 2,364.28 2/22/2024 CPH 96 104.60 2/22/2024 CPH 97 754.65 5/9/2024 Glase Golf,Inc 98 331,640.00 11/1/2024 Inframark 99 2,925.00 11/1/2024 Inframark 100 175.00 Total Requisitions 1,468,271.11 TOTAL CONSTRUCTION ACCOUNT BALANCE @ 11/30/24 $ 1,845,716.59 8/31/2023 Less: Contracts-Payable 371,993.38 9/30/2023 Less: Contracts-Payable 5,763.62 Capital Projects $ 1,467,959.59 Page 14 16 11A1 Lo a) coco ' C 0) (O N OT CO d N M O N D. 0 C) C) N N (A CA CO O ' CO CO O in CO N U!) 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O (Q O) N Ca C c C-.) 2 U 00300 1 lin ® § $ ! } } _ _ - _ _ - _ /2 _ _ # " 2 ® ® ® = a 3 CO _ \ CO ) ) ) ) ) k ) ) \ k k / ) / ) ( § § § k 2 = r2 « m2 ; CO } \ \ ( ( \ \ ( \ \ o. ) \ cn k22— — J [m { § CC / §\ \ » « - 2MI LT- II _ To / LL k «§ COCO\ \ g g_. = _ / cn e U C CI 0 } :16 \ \ k83 12) 03 \ \ 1 m \ co rt2 ad / / o \ \ T. aE / _ � ; LIJ 0, LU 2 $ $ / j k \ } } ( \ ( . � = o & 2 ° ! 3 - - la � � f ) R _ ® — •3 E f CO ± \ ( ( ( } ( < < } ; E - § / / E o u _ a cn CC -LU CO CO G . . § a. ~ 00 ) 0, z 7 \ § \ \ 0-0 0 LU _ rn - / - » 0 - - ) £ j { z � § k \ \ i Cr CO 5 5 „ > a LLI ` Mr k \ \ \ § \ § \ \ § ( \ ( § § § \ \ 4\ OKAL4 161 1 A ? ' I Immokalee Fire Control District i , 5368 Useppa Drive, Ave Maria, FL. 34142 Michael J. Choate, Fire Chief March 26, 2025 Mr. Derek Johnson, General Accounting Manager Clerk of the Circuit Court, Finance Department 3299 Tamiami Trail East, #403 Naples, FL 34112 Dear Mr. Johnson: Enclosed please a copy of the District's audit for the fiscal year ended 9-30-24. Please contact me if you have any questions or would like to receive an electronic copy of the audit. Very truly yours, BECKY BRONSDON Chief Financial Officer Enclosures Headquarters(239)657-2111 Fire Prevention(239)597-9227 Fax(239)657-9489 161 1A2 IMMOKALEE FIRE CONTROL DISTRICT BASIC FINANCIAL STATEMENTS TOGETHER WITH ADDITIONAL REPORTS YEAR ENDED SEPTEMBER 30,2024 16 1A ? TABLE OF CONTENTS Page(s) INDEPENDENT AUDITOR'S REPORT 1-4 MANAGEMENT'S DISCUSSION AND ANALYSIS(MD&A) i-vii BASIC FINANCIAL STATEMENTS GOVERNMENT-WIDE FINANCIAL STATEMENTS: Statement of Net Position 5 Statement of Activities 6 FUND FINANCIAL STATEMENTS: Governmental Funds: Balance Sheet-Governmental Funds 7 Reconciliation of the Balance Sheet-Governmental Funds to the Statement of Net Position 8 Statement of Revenues,Expenditures and Changes in Fund Balance-Governmental Funds 9 Reconciliation of the Statement of Revenues,Expenditures and Changes in Fund Balance-Governmental Funds to the Statement of Activities 10 NOTES TO THE FINANCIAL STATEMENTS 11-54 REQUIRED SUPPLEMENTARY INFORMATION OTHER THAN MD&A BUDGET TO ACTUAL COMPARISON-MAJOR FUNDS(General and Special Revenue Funds) Statement of Revenues,Expenditures and Changes in Fund Balance-Budget and Actual- General Fund-Summary Statement 55 Statement of Revenues,Expenditures and Changes in Fund Balance-Budget and Actual- General Fund-Detailed Statement 56-58 Statement of Revenues,Expenditures and Changes in Fund Balance-Budget and Actual-Impact Fee Fund-Summary Statement 59 OTHER REQUIRED SUPPLEMENTARY INFORMATION Schedule of District Proportionate Share of the Net Pension Liability-Florida Retirement System(FRS)Pension Plan 60 Schedule of District Contributions-Florida Retirement System(FRS)Pension Plan 60 Schedule of District Proportionate Share of the Net Pension Liability-Health Insurance Subsidy(HIS)Pension Plan 61 Schedule of District Contributions-Health Insurance Subsidy(HIS)Pension Plan 61 Notes to the Required Supplementary Information 62-63 Schedule of Changes in the Net OPEB Liability and Related Ratios,GASB No. 75 and Related Notes to the Schedule 64 ADDITIONAL REPORTS Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Basic Financial Statements Performed in Accordance with Government Auditing Standards 65-66 Independent Accountant's Report on Compliance with Section 218.415,Florida Statutes 67 Independent Auditor's Report to Management 68-70 Management's Response to Independent Auditor's Report to Management Exhibit 1 Florida Rules of the Auditor General-Rule 10.554(I)(i)6-8 Compliance-Unaudited Exhibit 2 HSC/Tuscan 161 1 ,12 & Company, PA CERTIFIED PUBLIC ACCOUNTANTS &CONSULTANTS INDEPENDENT AUDITOR'S REPORT Board of Commissioners Immokalee Fire Control District 5368 Useppa Dr. Ave Maria,Florida 34142 Opinions We have audited the accompanying financial statements of the governmental activities and each major fund of Immokalee Fire Control District(the"District")as of and for the year ended September 30,2024,and the related notes to the financial statements,which collectively comprise the District's basic financial statements as listed in the table of contents. Summary of Opinions Opinion Unit Type of Opinion Governmental Activities Unmodified General Fund Unmodified Impact Fee Fund Unmodified In our opinion,based on our audit and the report of other auditors,the financial statements referred to above present fairly,in all material respects,the respective financial position of the governmental activities and each major fund of Immokalee Fire Control District as of September 30,2024,and the respective changes in financial position,for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinions We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the District,and to meet our other ethical responsibilities,in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. We did not audit the financial statements of Florida Retirement Systems Pension Plan(FRS)or Health Insurance Subsidy Pension Plan(HIS)as of and for the year ended June 30,2024. The District is required to record its proportionate share of the FRS and HIS liability in the District's government-wide financial statements as of September 30,2024,and for the year then ended.Those financial statements were audited by other auditors whose report thereon has been furnished to us, and our opinion,insofar as it relates to the amounts included for Immokalee Fire Control District's government-wide financial statements,is based on the report of the other auditors. 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. INTEGRITY SERVICE EXPERIENCE 1470 Royal Palm Square Blvd.•Fort Myers,FL 33919-1049 Phone:(239)939-2233 •Fax:(239)939-0554•www.hsctuscan.com 611A2 Board of Commissioners Immokalee Fire Control District Page 2 In preparing the financial statements,management is required to evaluate whether there are conditions or events, considered in the aggregate,that raise substantial doubt about the District's ability to continue as a going concern for twelve months beyond the financial statement date,including any currently known information that may raise substantial doubt shortly thereafter. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement,whether due to fraud or error,and to issue an auditor's report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error,as fraud may involve collusion,forgery,intentional omissions,misrepresentations,or the override of internal control. Misstatements are considered material if there is a substantial likelihood that,individually or in the aggregate,they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with generally accepted auditing standards,we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements,whether due to fraud or error,and design and perform audit procedures responsive to those risks. Such procedures include examining,on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit 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 District's internal control. Accordingly,no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management,as well as evaluate the overall presentation of the financial statements. • Conclude whether,in our judgment,there are conditions or events,considered in the aggregate,that raise substantial doubt about the District's ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding,among other matters,the planned scope and timing of the audit,significant audit findings,and certain internal control-related matters that we identified during the audit. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management's discussion and analysis on pages i-vii,Schedule of the District's Proportionate Share of the Net Pension Liability-Florida Retirement System Pension Plan(FRS),Schedule of District Contributions-Florida Retirement System Pension Plan(FRS),Schedule of the District's Proportionate Share of the Net Pension Liability-Health Insurance Subsidy Pension Plan(HIS),Schedule of District Contributions-Health Insurance Subsidy Pension Plan(HIS),Notes to the Required Supplementary Information and Schedule of Changes in the Total OPEB Liability and Related Ratios GASB No.75 and related Notes to the Schedule,as listed in the table of contents,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 which 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-management's discussion and analysis(MD&A),Schedule of the District's Proportionate Share of the Net Pension Liability-Florida Retirement System Pension Plan(FRS),Schedule of District Contributions- Florida Retirement System Pension Plan(FRS),Schedule of the District's Proportionate Share of the Net Pension Liability -Health Insurance Subsidy Pension Plan(HIS),Schedule of District Contributions-Health Insurance Subsidy Pension 161 1 A 2 Board of Commissioners Immokalee Fire Control District Page 3 Plan(HIS),Notes to the Required Supplementary Information and Schedule of Changes in the Total OPEB Liability and Related Ratios GASB No.75 and related Notes to the Schedule,as listed in the table of contents,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 required supplementary information- management's discussion and analysis(MD&A),Schedule of the District's Proportionate Share of the Net Pension Liability-Florida Retirement System Pension Plan(FRS),Schedule of District Contributions-Florida Retirement System Pension Plan(FRS),Schedule of the District's Proportionate Share of the Net Pension Liability-Health Insurance Subsidy Pension Plan(HIS),Schedule of District Contributions-Health Insurance Subsidy Pension Plan(HIS),Notes to the Required Supplementary Information and Schedule of Changes in the Total OPEB Liability and Related Ratios GASB No. 75 and related Notes to the Schedule,as listed in the table of contents,because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Required Supplementary Information Our audit was conducted for the purpose of forming an opinion on the financial statements that collectively comprise Immokalee Fire Control District's basic financial statements. The required supplementary information other than MD&A- budgetary comparison information is presented for purposes of additional analysis and is not a required part of the basic financial statements. The required supplementary information other than MD&A-budgetary comparison information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures,including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves,and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion,the required supplementary information other than MD&A-budgetary comparison information is fairly stated,in all material respects,in relation to the basic financial statements as a whole. Other Information Our audit was conducted for the purpose of forming an opinion on the financial statements that collectively comprise the District's basic financial statements. The Exhibit 1 -Management's Response to Independent Auditor's Report to Management and Exhibit 2-Florida Rules of the Auditor General-Rule 10.554(I)(i)6-8 Compliance-Unaudited are not a required part of the basic financial statements but are required by Government Auditing Standards and/or Rules of the Auditor General,Section 10.554(i),respectively. Such information has not been subjected to the auditing procedures applied in the audit of the basic financial statements and,accordingly,we do not express an opinion or provide any assurance on it. In connection with our audit of the basic financial statements,our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If,based on the work performed,we conclude that an uncorrected material misstatement of the other information exists,we are required to describe it in our report. Other Reporting Required by Section 218.415,Florida Statutes In accordance with Section 218.415,Florida Statutes,we have also issued a report dated February 3,2025,on our consideration of Immokalee Fire Control District's compliance with provisions of Section 218.415,Florida Statutes. The purpose of that report is to describe the scope of our testing of compliance and the results of that testing,and to provide an opinion on compliance with the aforementioned Statute. That report is an integral part of an audit performed in accordance with Sections 218.39 and 218.415,Florida Statutes in considering Immokalee Fire Control District's compliance with Section 218.415,Florida Statutes. tb11A2 Board of Commissioners Immokalee Fire Control District Page 4 Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards.we have also issued our report dated February 3,2025.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.contract and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing.and not to provide an opinion on 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 Immokalee Fire Control District's internal control over financial reporting and compliance. #64/4.4) G1d1444/.0,0 , / HSC/TUSCAN&COMPANY.P.A. Fort Myers,Florida February 3.2025 161 1A2 MANAGEMENT'S DISCUSSION AND ANALYSIS (MD&A) 1 6 1 1 A 2 Immokalee Fire Control District Management's Discussion and Analysis September 30, 2024 General Information The Immokalee Fire Control District's (the "District") discussion and analysis is designed to assist the reader in focusing on significant financial issues, provide an overview of the District's financial activity, identify changes in the District's financial ability to address the next and subsequent fiscal years challenges, identify any material deviations from the approved budget, and identify individual fund issues and concerns. Management's Discussion and Analysis (MD&A) is intended to serve as an introduction to the District's basic financial statements which are composed of 1) government-wide financial statements, 2)fund financial statements, and 3) notes to the financial statements. It is designed to focus on the current fiscal year's activities, resulting changes and currently known facts, and should be read in conjunction with the District's financial statements. Fiscal Year Highlights As expected, the District's financial position increased during the fiscal year ended September 30, 2024 by $703,707 substantially due to the use of impact fees in the amount of$1,993,284. As expected, the District's financial position increased during the fiscal year ended September 30, 2023 by $209,688 substantially due to an increase in ad valorem tax revenue. Effective September 30, 2015, the District adopted the provisions of Governmental Accounting Standards Board Statement No. 68, Accounting and Financial Reporting for Pensions (Statement No. 68). The implementation of this standard required the District to annually report its actuarially determined net pension liability in the government-wide financial statements. It also requires additional disclosure in the notes related to the financial statements. Effective September 30, 2018, the District adopted the provisions of Governmental Accounting Standards Board Statement No. 75 "Accounting and Financial Reporting for Post Employment Benefits Other Than Pensions (OPEB)"(Statement No. 75). This accounting standard requires the District to annually report its actuarially determined net OPEB liability. 161 1A ? Immokalee Fire Control District Management's Discussion and Analysis September 30, 2024 Government-wide Financial Statements The government-wide financial statements are designed to provide readers with a broad overview of the District's finances in a manner similar to a private-sector business. The statements combine and consolidate governmental fund short-term spendable resources with capital assets and long-term obligations. The statements include a Statement of Net Position and a Statement of Activities that are designed to provide consolidated financial information about governmental activities of the District presented on the accrual basis of accounting. The Statement of Net Position presents information on all of the District's assets and liabilities, with the difference between the two reported as net position. Over time, the increases or decreases to net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating. The government-wide financial statements can be found on pages 5 and 6 of this report at September 30: 2024 2023 Assets: Current Assets $ 5,814,642 $ 6,568,462 Noncurrent Assets 24,298,399 23,630,892 Total Assets 30,113,041 30,199,354 Deferred Outflows of Resources 2,591,771 1,470,945 Liabilities: Accounts Payable and Other Current Liabilities 979,817 3,905,398 Unearned Revenue-impact fees 3,271,351 3,306,227 Noncurrent Liabilities 16,473,722 13,492,240 Total Liabilities 20,724,890 20,703,865 Deferred Inflows of Resources 649,714 339,933 Net Position: Net Investment in Capital Assets 14,506,609 13,273,534 Unrestricted Net Assets (Deficit) (3,176,401) (2,647,033) Total Net Position $11.330,208 $10,626,501 The Statement of Activities presents information showing how the District's net position changed during the fiscal years. The focus is on both gross and net costs of various activities that are supported by the District's ad valorem tax and other revenues. Thus, 161 1 A 2 Immokalee Fire Control District Management's Discussion and Analysis September 30, 2024 Government-wide Financial Statements (Continued) revenues and expenses are reported in this Statement for some items that will only result in cash flows in a future fiscal period (e.g. uncollected taxes earned). This Statement is intended to summarize and simplify the user's analysis of the cost of various governmental services. An increase or decrease in net position may be an indication of whether the District's financial health is improving or deteriorating. The following reflects the revenues, expenses and changes in financial position for the years ended September 30: 2024 2023 Revenues: Ad Valorem Taxes $ 7,475,221 $ 6,100,838 Interest Income 334,482 303,203 Grant Revenue 105,155 160,659 Impact Fees 1,993,284 1,414,108 Other Revenue 166,742 359,352 Total Revenue 10,074,884 8,338,160 Expenses Public Safety Expenses 9,371,177 8,128,472 Change in Net Position 703,707 209,688 Net Position — Beginning 10,626,501 10,416,813 Net Position - Ending of the fiscal year $ 11.330,208 $10.626,501 Both of the financial statements distinguish the functions of the District that are principally supported by ad valorem taxes and intergovernmental revenues. The governmental activities of the District are for public safety. General Revenues During fiscal year 2023, the District received $1,113,318 more in ad valorem tax dollars over the prior fiscal year due to an increase in assessable value of property within the District. This represents a 22% increase. During fiscal year 2024, the District received $1,374,383 more in ad valorem tax dollars over the prior fiscal year due to an increase in assessable value of property within the District. This represents a 23% increase. iii 16 A . Immokalee Fire Control District Management's Discussion and Analysis September 30, 2024 Government-wide Financial Statements (Continued) Expenses During the fiscal year of 2023 expenses increased by $1,638,102 vs. the prior fiscal year due to increases in personnel costs and debt service costs related to paying off the original Station 30 construction loan. During the fiscal year of 2024 expenses increased by $1,242,705 vs. the prior fiscal year due to increases in costs and depreciation expense on Station #32. These costs included an increase in personnel costs, pension liability, OPEB costs and interest expense related to debt service. Net Position During fiscal year 2023, net position increased by $209,688. During fiscal year 2024, net position increased by $703,707. Liabilities During the year ended September 30, 2023, the District entered 3 capital leases totaling $902,825 for a pumper truck, 1 officer vehicle and 1 service vehicle. The District also refinanced the construction loan for Station 30. During the year ended September 30, 2024, the District entered 2 capital leases of $202,325 for two staff vehicles and $2,700,000 for refinancing Station #30 debt (New Market Road). Fund Financial Statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District uses fund accounting to ensure and demonstrate compliance, with finance-related legal requirements. Governmental Funds Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on the short-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Both the governmental fund balance sheet and the governmental fund statement of revenues, iv 161 1 A 2 Immokalee Fire Control District Management's Discussion and Analysis September 30, 2024 Governmental Funds (Continued) expenditures, and changes in fund balance provide a reconciliation to facilitate the comparison between governmental funds and governmental activities. The District maintains two governmental funds, the General Fund and the Special Revenue Fund for impact fees. Each fund's activity is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances. These statements can be found on pages 7 and 9 of this report. Notes to the Basic Financial Statements The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements and can be found beginning on page 11 of this report. General Fund Budgetary Highlights The District adopts an annual appropriated budget for each of its governmental funds. The most significant original budget variances for the year ended September 30, 2024 was due to receipt of approximately $220,298 in ad valorem tax more than budgeted in unanticipated grant revenue and debt principal reduction of$2,163,164 due to refinancing the Station #30 debt. The actual expenditures in the General Fund were $2,383,277 less than the final amended budget. The actual expenditures were less than budget in general due to not having to use as much reserves as budgeted to cover expenditures. The District amended its original budget to adjust for the September 30, 2024 audit fund balance carryover and various other changes in anticipated revenues and expenditures. The District adopts an annual appropriated budget for each of its governmental funds. The most significant original budget variance for the year ended September 30, 2023 was due to receipt of approximately $137,000 in ad valorem tax more than budgeted in unanticipated grant revenue. The actual expenditures in the General Fund were $2,735,939 less than the final amended budget. The actual expenditures were less than budget in general due to not having to use any reserves to cover expenditures. The District amended its original budget to adjust for the September 30, 2023 audit fund balance carryover and various other changes in anticipated revenues and expenditures. v 16114? Immokalee Fire Control District Management's Discussion and Analysis September 30, 2024 Capital Assets The following is a schedule of the District's capital assets at September 30: Capital Assets September 30 2024 2023 Capital Assets not being depreciated: Land $ 390,256 $ 390.256 Construction in progress - 6,508.106 Total Capital Assets not being depreciated 390,256 6,898,362 Capital Assets being depreciated: Buildings and building improvements 20,173,872 13,316.996 Machinery& equipment 2,442.330 2,309,079 Vehicles 6,193,691 4,840,528 Total Capital Assets being depreciated 28.809.893 20,466,603 Less: Accumulated Depreciation (4,901,750) (3,798,722) Capital Assets, being depreciated, net 23,908,143 16,667.881 Capital Assets, Net $ 24.298,399 $ 23,566.243 The District purchased capital assets during the year ended September 30, 2023 in the amount of$5,173,822 which consisted substantially of a new pumper truck, an officer vehicle and a service truck. The District purchased various equipment totaling $304,945. The District also incurred costs related to construction of the new Immokalee station (St 30) in the amount of$3,943,445. During the year ended September 30, 2024, the District purchased capital assets of $1,985,560 which consisted of$348,770 for the completion of Station #30 and $1,636,790 for three staff vehicles, equipment to outfit these vehicles, a pumper and other equipment. vi t611A2 Immokalee Fire Control District Management's Discussion and Analysis September 30, 2024 Long Term Liabilities The following is a summary of changes in long-term liabilities for the year ended September 30: 2024 2023 Net pension liability - FRS $ 5,488,296 $ 4,616,173 Net pension liability - HIS 1,143,073 1,099,842 Compensated absences 523,656 533,435 Capital leases 2,468,625 2,662,274 Net OPEB liability 356,758 266,641 Construction Loans 7,323,165 7,630,435 $ 17,303,573 -$ 16,808,800 During the year ended September 30, 2023, the District issued $2,700,000 in an additional construction loan to finish construction of Station #30. The District also entered 3 financing leases for a pumper truck, an officer vehicle and a service truck. During the year ended September 30, 2024, the District refinanced the Station #30 construction loan to permanent financing. Station #30 was completed and placed in service during the year. The District also leased two staff vehicles. Economic Factors and Next Year's Budget Rates The following were factors considered when next year's budget (2024-2025) was prepared: • The estimated property taxes increased by approximately $1,241,386 or 17% for budgeting purposes for 2025 as compared to 2024. The millage rate stayed consistent at 3.75 mills for the fiscal year ending September 30, 2025. Request for information This financial report is designed to provide the reader an overview of the District. Questions regarding any information provided in this report should be directed to: Immokalee Fire Control District, 5368 Useppa Drive, Ave Maria, Florida 34142, attention Becky Bronsdon, Chief Financial Officer, telephone (239) 657-2111. vii 161 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 5 of 70 STATEMENT OF NET POSITION September 30, 2024 Governmental Activities ASSETS Current assets: Cash and cash equivalents $ 2,172,677 Restricted cash and cash equivalents 3,063,443 Investments 26,806 Investments-restricted 166,299 Due from other governments,including restricted amount of$77,837 185,126 Prepaid expenses 135,642 Right of use subscription asset,current 64,649 Total current assets 5,814,642 Noncurrent assets: Right of use subscription asset,net of current - Capital assets: Land 390,256 Construction in progress _ Depreciable buildings,equipment and vehicles (net of$4,901,750 accumulated depreciation) 23,908,143 Total noncurrent assets 24,298,399 TOTAL ASSETS 30,113,041 DEFERRED OUTFLOWS OF RESOURCES 2,591,771 LIABILITIES Current liabilities: Accounts payable 1,949 Accrued liabilities 71,368 Due to other governments - Unearned revenue-land easement 12,000 Unearned revenue-impact fees 3,271,351 Retainage payable _ Current portion of long-term obligations 829,851 Right of use subscription liability,current 64,649 Total current liabilities 4,251,168 Noncurrent liabilities: Noncurrent portion of long-term obligations 16,473,722 Right of use subscription liability,net of current - TOTAL LIABILITIES 20,724,890 DEFERRED INFLOWS OF RESOURCES 649,714 NET POSITION Net investment in capital assets 14,506,609 Restricted - Unrestricted(deficit) (3,176,401) TOTAL NET POSITION(DEFICIT) $ 11,330,208 The accompanying notes are an integral part of this statement. i61 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 6 of 70 STATEMENT OF ACTIVITIES Year Ended September 30, 2024 Governmental Activities EXPENSES Governmental Activities Public Safety-Fire Protection Personnel services $ 6,353,014 Operating expenses 1,391,348 Depreciation 1,250,043 Interest and fiscal charges 376,772 TOTAL EXPENSES -GOVERNMENTAL ACTIVITIES 9,371,177 PROGRAM REVENUES Charges for services - Operating/capital grants and contributions 105,155 TOTAL PROGRAM REVENUES 105,155 NET PROGRAM EXPENSES 9,266,022 GENERAL REVENUES Ad Valorem taxes 7,475,221 Impact fees 1,993,284 Interest 334,482 Gain on disposition of capital assets 36,639 Other 130,103 TOTAL GENERAL REVENUES 9,969,729 INCREASE(DECREASE)IN NET POSITION 703,707 NET POSITION(DEFICIT)-Beginning of year 10,626,501 NET POSITION(DEFICIT)-End of the year $ 11,330,208 The accompanying notes are an integral part of this statement. 1 6 I 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 7 of 70 BALANCE SHEET-GOVERNMENTAL FUNDS September 30,2024 Total General Impact Fee Governmental Fund Fund Funds ASSETS Cash and cash equivalents $ 2,172,677 $ - $ 2,172,677 Restricted cash and cash equivalents 23,450 3,039,993 3,063,443 Investments 26,806 166,299 193,105 Due from other governments 107,289 77,837 185,126 Due from other funds _ - - Prepaid expenditures 135,642 - 135,642 TOTAL ASSETS $ 2,465,864 $ 3,284,129 $ 5,749,993 LIABILITIES AND FUND BALANCE LIABILITIES Accounts payable $ 1,949 $ - $ 1,949 Accrued liabilities 70,590 778 71,368 Due to other governments - - - Due to other funds - - - Retainage payable - - - Unearned revenue-land easement - 12,000 12,000 Unearned revenue-impact fees - 3,271,351 3,271,351 TOTAL LIABILITIES 72,539 3,284,129 3,356,668 FUND BALANCE Nonspendable 135,642 - 135,642 Assigned 2,257,683 - 2,257,683 Unassigned - - - TOTAL FUND BALANCE 2,393,325 - 2,393,325 TOTAL LIABILITIES AND FUND BALANCE $ 2,465,864 $ 3,284,129 $ 5,749,993 The accompanying notes are an integral part of this statement. 1 6 I I A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 8 of 70 RECONCILIATION OF THE BALANCE SHEET -GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION September 30,2024 Amount Total fund balance for governmental funds $ 2,393,325 Amounts reported for governmental activities in the statement of net position are different because: Right of use-subscription asset 64,649 64,649 Capital assets used in governmental activities are not financial resources and,therefore,are not reported in the governmental funds. Capital assets not being depreciated: Land 390,256 Construction in progress - 390,256 Governmental capital assets being depreciated: Building,Equipment and Vehicles 28,809,893 Less accumulated depreciation _ (4,901,750) 23,908,143 Deferred outflows and deferred inflows related to pensions are applied to future periods and,therefore,are not reported in the governmental funds. Deferred outflows related to pensions 2,591,771 2,591,771 Deferred inflows related to pensions (649,714) (649,714) Right of use-subscription liability (64,649) (64,649) Long-term liabilities are not due and payable in the current period and,therefore,are not reported in the governmental funds. Net pension liability-FRS (5,488,296) Net pension liability-HIS (1,143,073) Capital leases (2,468,625) Construction loan (7,323,165) Compensated absences (523,656) Net OPEB liability (356,758) (17,303,573) Elimination of interfund amounts: Due from other funds - Due to other funds - Total net position(deficit)of governmental activities $ 11,330,208 The accompanying notes are an integral part of this statement. 161 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 9 of 70 STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - GOVERNMENTAL FUNDS Year Ended September 30, 2024 Impact Total General Fee Governmental Fund Fund Funds REVENUES Ad Valorem taxes $ 7,475,221 $ - $ 7,475,221 Intergovernmental revenues: Federal public safety grants-CDBG 101,665 - 101,665 State public safety grants - - - Other grants - - - State firefighter supplemental 3,490 - 3,490 Fees: Inspection fees - - Impact fees - 1,993,284 1,993,284 Miscellaneous: Interest 192,865 141,617 334,482 Other 130,103 - 130,103 TOTAL REVENUES 7,903,344 2,134,901 10,038,245 EXPENDITURES Current Public safety Personnel services 6,168,367 - 6,168,367 Operating expenditures 1,371,804 19,544 1,391,348 Capital outlay 495,184 1,490,376 1,985,560 Debt service Principal reduction 2,962,164 441,080 3,403,244 Interest and fiscal charges 192,871 183,901 376,772 TOTAL EXPENDITURES 11,190,390 2,134,901 13,325,291 EXCESS OF REVENUES OVER(UNDER)EXPENDITURES (3,287,046) - (3,287,046) OTHER FINANCING SOURCES(USES) Proceeds from issuance of financing lease 202,325 - 202,325 Proceeds from disposition of capital assets 40,000 - 40,000 Proceeds from issuance of construction loans 2,700,000 - 2,700,000 TOTAL OTHER FINANCING SOURCES(USES) 2,942,325 - 2,942,325 NET CHANGE IN FUND BALANCE (344,721) - (344,721) FUND BALANCE-Beginning of the year 2,738,046 - 2,738,046 FUND BALANCE-End of the year $ 2,393,325 $ - $ 2,393,325 The accompanying notes are an integral part of this statement. 16I IA2 IMMOKALEE FIRE CONTROL DISTRICT Page 10 of 70 RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES Year Ended September 30, 2024 Amount Net change(excess of revenues over(under)expenditures) in fund balance-total governmental funds $ (344,721) The decrease(change)in net position reported for governmental activities in the statement of activities is 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 and reported as depreciation expense. Plus: Expenditures for capital assets 1,985,560 Less:proceeds from disposition of capital assets (40,000) Plus: gain on disposition of capital assets 36,639 Less:current year depreciation (1,250,043) 732,156 The issuance of debt is reported as a financing source in governmental funds and thus contributes to the change in fund balance. In the Statement of Net Position,however,issuing debt increases long-term liabilities and does not affect the Statement of Activities. Similarly,repayment of principal is an expenditure in the governmental funds but reduces the liability in the Statement of Net Position. Proceeds from issuance of capital lease (202,325) Proceeds from issuance of construction loans (2,700,000) Repayments(principal retirement)for capital leases 395,974 Repayments(principal retirement)for construction loan 3,007,270 500,919 Some expenses reported in the Statement of Activities do not require the use of current financial resources and,therefore,are not reported as expenditures in the governmental funds. Increase(decrease)in deferred outflows-Pensions 1,120,826 (Increase)decrease in deferred inflows-Pensions (309,781) (Increase)decrease in net pension liability-FRS (872,123) (Increase)decrease in net pension liability-HIS (43,231) (Increase)decrease in compensated absences,net 9,779 (Increase)decrease in net OPEB liability (90,117) (184,647) Increase(decrease)in net position of governmental activities $ 703,707 The accompanying notes are an integral part of this statement. 1 6 I I A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 11 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization Immokalee Fire Control District(the "District"), is an independent special district established on May 3, 1955, by Laws of Florida, Chapter 55-30666,as amended. The District has the general and specific powers prescribed by Florida Statutes Chapters 189, 633 and Chapter 191. Laws of Florida, Chapter 2000-393 codified, reenacted, amended and repealed its prior enabling acts. Also, as a result of Laws of Florida, Chapter 2000-393,the District's name was changed from Immokalee Fire Control and Rescue District to Immokalee Fire Control District. Laws of Florida, Chapter 2001-330 amended Laws of Florida, Chapter 2000-393 and authorized the District to levy impact fees on new construction within the District. During January 2012,the voters within the District passed a referendum increasing the District's millage cap from 3 mills to 3.75 mills effective for the year ended September 30, 2013 and thereafter. The District was created for the purpose of providing fire control and protection services as well as crash and rescue services for a designated area in eastern Collier County. The District operates three (3) station houses and has approximately 46 employees including part-time employees plus five (5) Commissioners. The District is governed by an elected five (5)member Board of Commissioners serving staggered four(4) year terms. Summary of Significant Accounting Policies The following is a summary of the significant accounting policies used in the preparation of these basic financial statements. Reporting Entity The District adheres to Governmental Accounting Standards Board(GASB) Statement Number 14, "Financial Reporting Entity" (GASB 14), as amended by GASB Statement Number 39, "Determining Whether Certain Organizations Are Component Units" (GASB 39) and GASB Statement Number 61, "The Financial Reporting Entity: Omnibus -An Amendment of GASB Statements No. 14 and No. 34" (GASB 61). These statements require the basic financial statements of the District(the primary government)to include its component units, if any. A component unit is a legally separate organization for which the elected officials of the primary government are financially accountable. Based on the criteria established in GASB Statement No. 14, as amended, there are no component units required to be included or included in the District's basic financial statements. 1 6 I 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 12 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED The basic financial statements of the District are comprised of the following: - Government-wide financial statements - Fund financial statements -Notes to the financial statements Government-wide Financial Statements The government-wide financial statements(i.e., the Statement of Net Position and the Statement of Activities)report information on all of the activities of the District and do not emphasize fund types. These governmental activities comprise the primary government. General governmental and intergovernmental revenues support the governmental activities. The purpose of the government-wide financial statements is to allow the user to be able to determine if the District is in a better or worse financial position than the prior year. The effect of all interfund activity between governmental funds has been removed from the government-wide financial statements. Government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Under the accrual basis of accounting, revenues, expenses, gains, losses, assets, and liabilities resulting from exchange and exchange-like transactions are recognized when the exchange takes place. Revenues, expenses, gains, losses, assets, and liabilities resulting from nonexchange transactions are recognized in accordance with the requirements of GASB Statement Number 33, "Accounting and Financial Reporting for Nonexchange Transactions" (GASB 33). Amounts paid to acquire capital assets are capitalized as assets in the government-wide financial statements, rather than reported as expenditures. Proceeds of long-term debt are recorded as liabilities in the government-wide financial statements, rather than as other financing sources. Amounts paid to reduce long-term indebtedness of the reporting government are reported as a reduction of the related liability in the government-wide financial statements, rather than as expenditures. 161 1A ?_ IMMOKALEE FIRE CONTROL DISTRICT Page 13 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE A- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED Government-wide Financial Statements,continued The Statement of Activities demonstrates the degree to which the direct expenses of a given function are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to customers or applicants who purchase, use or directly benefit from goods, services, or privileges provided by a given function and 2)grants and contributions that are restricted to meeting the operational or capital improvements of a particular function. Taxes and other items not properly included among program revenues are reported instead as general revenues. Program revenues are considered to be revenues generated by services performed and/or by fees charged such as inspection fees. Since the year ended September 30, 2018, the District has contracted another fire district to perform all fire inspections within the Immokalee Fire Control District. As such, the contracted District was entitled to all fire inspection fee revenues. Capital grant revenues are grants from other governmental entities restricted for the purchase of specific capital assets. Fund Financial Statements The District adheres to GASB Statement Number 54, "Fund Balance Reporting and Governmental Fund Type Definitions" (GASB 54). The accounts of the District are organized on the basis of funds, each of which is considered 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 or retained earnings, revenues, and expenditures or expenses, as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purpose for which they are to be spent and the means by which spending activities are controlled. Fund financial statements for the District's governmental funds are presented after the government-wide financial statements. These statements display information about major funds individually and nonmajor funds, in aggregate, for governmental funds. 1 6 I 1Ar IMMOKALEE FIRE CONTROL DISTRICT Page 14 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE A- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED Governmental Funds When both restricted and unrestricted resources are combined in a fund, expenditures are considered to be paid first from restricted resources, as appropriate, and then from unrestricted resources. 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 enough thereafter to pay liabilities of the current period. The District's major funds are presented in separate columns on the governmental fund financial statements. The definition of a major fund is one that meets certain criteria set forth in GASB Statement Number 34, "Basic Financial Statements -and Management's Discussion and Analysis- for State and Local Governments" (GASB 34). The funds that do not meet the criteria of a major fund are considered non-major funds and are combined into a single column on the governmental fund financial statements. Separate financial statements are provided for governmental funds. Major individual governmental funds are reported in separate columns on the fund financial statements. Measurement Focus and Basis of Accounting Basis of accounting refers to when revenues and expenditures, or expenses, are recognized in the accounts and reported in the basic financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements have been met. 1 6 I 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 15 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE A A . ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED Measurement Focus and Basis of Accounting, continued Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period and soon enough thereafter to pay liabilities of the current period. For this purpose, the District considers tax revenues to be available if they are collected within sixty days of the end of the current fiscal period. Revenues susceptible to accrual are property taxes, interest on investments, and intergovernmental revenues. Property taxes are recorded as revenues in the fiscal year in which they are levied, provided they are collected in the current period or within sixty days thereafter. Interest on invested funds is recognized when earned. Intergovernmental revenues that are reimbursements for specific purposes or projects are recognized when all eligibility requirements are met. Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. Exceptions to this general rule include: (1) principal and interest on the long-term debt, if any, which is recognized when due; and (2) expenditures are generally not divided between years by the recording of prepaid expenditures. When both restricted and unrestricted resources are available for use, it is the District's policy to use restricted resources first, then unrestricted resources as they are needed. Separate financial statements are provided for governmental funds. Non-current Government Assets/Liabilities GASB 34 requires non-current governmental assets, such as land and buildings, and non-current governmental liabilities, such as notes payable and capital leases, to be reported in the governmental activities column in the government-wide Statement of Net Position. 1 6 I 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 16 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE A- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES,CONTINUED Major Funds The District reports the following major governmental funds: The General Fund is the District's primary operating fund. It accounts for all financial resources of the District, except those required to be accounted for in the Impact Fee Fund. The Impact Fee Fund consists of fees imposed and collected by Collier County based on new construction within the District. The fees are restricted and can only be used for certain capital expenditures and/or the related debt associated with growth within the District. Budgetary Information The District has elected to report budgetary comparison of major funds as required supplementary information (RSI). Investments The District adheres to the requirements of Governmental Accounting Standards Board (GASB) Statement Number 31, "Accounting and Financial Reporting for Certain Investments and for External Investment Pools" (GASB 31), in which all investments are reported at fair value. Capital Assets Capital assets,which include land, construction in progress, buildings, equipment and machinery and vehicles are reported in the government-wide financial statements in the Statement of Net Position. The District follows a capitalization policy which calls for capitalization of all fixed assets that have a cost or donated value of$2,000 or more and have a useful life in excess of one year. 16IlA2 IMMOKALEE FIRE CONTROL DISTRICT Page 17 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES,CONTINUED Capital Assets,continued All capital assets are valued at historical cost, or estimated historical cost if actual historical cost is not available. Donated capital assets are valued at their estimated fair market value on the date donated. Public domain (infrastructure) capital assets consisting of certain improvements other than building, including curbs, gutters and drainage systems, are not capitalized, as the District generally does not acquire such assets. No debt-related interest expense is capitalized as part of capital assets in accordance with GASB 34. Maintenance, repairs and minor renovations are not capitalized. The acquisition of land and construction projects utilizing resources received from Federal and State agencies are capitalized when the related expenditure is incurred. Expenditures that materially increase values, change capacities, or extend useful lives are capitalized. Upon sale or retirement,the cost is eliminated from the respective accounts. Expenditures for capital assets are recorded in the fund statements as current expenditures. However, such expenditures are not reflected as expenses in the government-wide statements,but rather are capitalized and depreciated. Depreciable capital assets are depreciated using the straight-line method over the following estimated useful lives: Asset Years Buildings 30 Equipment and Machinery 3-20 Vehicles 4-10 1 6 I 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 18 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES,CONTINUED Budgets and Budgetary Accounting The District has adopted an annual budget for the General Fund. The District has also adopted an annual budget for its Special Revenue Fund, the Impact Fee Fund. The District follows these procedures in establishing budgetary data for the General Fund and the Impact Fee Fund: 1. During the summer of each year, the District Fire Chief submits to the Board of Commissioners a proposed operating budget for the fiscal year commencing on the upcoming October 1. The operating budget includes proposed expenditures and the means of financing them. 2. Public hearings are conducted to obtain taxpayer comments. 3. The budget is adopted by approval of the Board of Commissioners. 4. Budget amounts,as shown in these financial statements, are as originally adopted or as amended by the Board of Commissioners. 5. The budget is adopted on a basis consistent with accounting principles generally accepted in the United States of America. 6. The level of control for appropriations is exercised at the fund level. 7. Appropriations lapse at year-end. The District did amend the General Fund budget during the year ended September 30, 2024, in the amount of$3,238,706. The District did amend the Impact Fee Fund budget during the year ended September 30, 2024, in the amount of$18,573. 1611A2 IMMOKALEE FIRE CONTROL DISTRICT Page 19 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED Impact Fees/Deferred Revenue Through an inter-local agreement,the District levies an impact fee on new construction within the District. The intent of the fee is for growth within the District to pay for capital improvements needed due to the growth. The fee is collected by Collier County and is remitted to the District. The fee is refundable if not expended by the District within a reasonable period from the date of collection. The District, therefore, records this fee as restricted cash and as deferred revenue until the date of expenditure, at which time it is recognized as revenue and charged to capital outlay in the fund financial statements and capital assets in the government-wide financial statements. Due To/From Other Funds Interfund receivables and payables arise from interfund transactions and are recorded in the fund statements by funds affected in the period in which transactions are executed. Due From Other Governments No allowance for losses on uncollectible accounts has been recorded since the District considers all amounts to be fully collectible. Compensated Absences The District's employees accumulate annual leave, based on the number of years of continuous service. Upon termination of employment, employees can receive payment of accumulated annual leave, if certain criteria are met. The costs of sick, vacation and personal leave benefits (compensated absences) are expended in the respective operating funds when payments are made to employees. However, the liability for all accrued sick,vacation and personal leave benefits is recorded in the government-wide Statement of Net Position. Encumbrances Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of monies are recorded in order to reserve that portion of the applicable appropriation, is not employed by the District because, at present, it is not necessary in order to assure effective budgetary control or to facilitate effective cash planning and control. 161 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 20 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES,CONTINUED Management Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates. Net Position In the government-wide financial statements, no net position has been identified as restricted. Restricted net position reflects those net assets that have constraints as to their use externally imposed by creditors, through debt covenants,by grantors, or b, law. Fund Balances The governmental fund financial statements the District maintains may include nonspendable, restricted, committed, assigned and unassigned fund balances. Nonspendable fund balances are those that cannot be spent because they are either (a)not in spendable form or(b) legally or contractually required to be maintained intact. Criteria include items that are not expected to be converted into cash, for example prepaid expenses. Restricted fund balance consists of amounts that can be spent only on specific purposes stipulated by constitutional provisions or enabling legislation or externally imposed by creditors,grantors, contributors, or laws or regulations of other governments. The District maintained no restricted fund balances at September 30, 2024. Committed fund balance consists of amounts that represent resources whose use is constrained by limitations the Board(highest decision making) imposes upon itself. These constraints made by the Board remain binding unless removed in the same manner. The District maintained no committed fund balance at September 30, 2024. 1 6 I 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 21 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE A- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED Fund Balances, continued Assigned fund balance represents the portion of fund balance that reflects the District's intended use of resources. Such intent can only be established by the Board. The District maintained assigned fund balance for various uses at September 30,2024. The Board's minimum fund balance policy is to maintain not less than three (3) months budgeted expenditures in assigned fund balance as well as other specifically assigned amounts. Unassigned fund balance is the portion of fund balance representing resources in excess of what can properly be classified in one of the other categories. Interfund Transactions The District considers interfund receivables (due from other funds) and interfund liabilities (due to other funds) to be loan transactions to and from other funds to cover temporary (three months or less) cash needs. Transactions that constitute reimbursements to a fund for expenditures initially made from it that are properly applicable to another fund are recorded as expenditures in the reimbursing funds and as reduction of expenditures in the fund that is reimbursed. Pensions In the government-wide Statement of Net Position, liabilities are recognized for the District's proportionate share of each pension plan's net pension liability. For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Florida Retirement System (FRS) and the Health Insurance Subsidy(HIS) defined benefit plans and additions to/deductions from fiduciary net position have been determined on the same basis as they are reported by the Plans. For this purpose, benefit payments, (including refunds of employees contributions)are recognized when due and payable in accordance with the benefit terms. The District's retirement plans and related amounts are described in a subsequent note. 1 6 I 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 22 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE A- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED Accounting Guidance GASB 94: Public-Private and Public-Public Partnerships and Availability Payment Arrangements In March 2020, the GASB issued Statement No. 94 (Public-Private and Public- Public Partnerships and Availability Arrangements) to bring a uniform guidance on how to report public-private and public-public partnership arrangements, will recognize receivables for installment payments, deferred inflows of resources, and, when applicable, capital assets. Operators will recognize liabilities for installment payments and intangible right-to-use assets, and when applicable, deferred outflows of resources and liabilities for assets being transferred. This Statement also provides guidance for accounting and financial reporting for availability payment arrangement in which a government compensates an operator for services such as designing, constructing, financing, maintaining, or operating an underlying asset for a period of time in an exchange or exchange-like transaction. The provisions of this Statement were effective for the District's financial statements for the year ended September 30, 2023. The District,however,had no arrangements that met this Statement's reporting criteria and/or the related arrangement costs were considered immaterial for the year ended September 30, 2024. GASB 96: Subscription-Based Information Technology Arrangements (SBITAs) In May 2020, the GASB issued Statement No. 96(Subscription-Based Information Technology Arrangements (SBITAs)), which defined the SBITAs and provides accounting and financial reporting for SBITAs by governments. This Statement requires a government to recognize a subscription liability and an intangible right-to-use subscription asset for the SBITAs. The provisions of this Statement were effective for the District's financial statements for the year ended September 30, 2023. The District had arrangements that met this Statement's reporting criteria and have reported them as subscription right of use asset and liability, respectively, on the Government-Wide financial statements for the year ended September 30, 2024. For further discussion see Note R. 16iia2 IMMOKALEE FIRE CONTROL DISTRICT Page 23 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE A- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED Deferred Outflows/Inflows of Resources In addition to assets, the Statement of Net Position reports a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to future periods and so will not be recognized as an outflow of resources (expense/expenditure)until then. The deferred amount on pensions is reported in the government-wide Statement of Net Position. The deferred outflows of resources related to pensions and OPEB are discussed in a subsequent note. In addition to liabilities, the Statement of Net Position reports a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period and so will not be recognized as an inflow of resources (revenue)until that time. The deferred amount on pensions and OPEB is reported only in the government-wide Statement of Net Position. A deferred amount on pensions and OPEB results from the difference in the expected and actual amounts of experience, earnings, and contributions. This amount is deferred and amortized over the service life of all employees that are provided with benefits through the plans except earnings which are amortized over five to seven years. Subsequent Events Subsequent events have been evaluated through February 3, 2025, which is the date the financial statements were available to be issued. NOTE B - CASH AND CASH EQUIVALENTS At September 30, 2024, cash and cash equivalents were$5,236,120,which included unrestricted cash of$2,172,677 and restricted cash of$23,450 in the General Fund and restricted cash of$3,039,993, which was held in the Impact Fee Fund. Restricted cash is comprised of the debt sinking fund of$22,212 and donations of$1,238 in the general fund and of impact fees which are restricted for capital asset acquisition and/or improvement due to growth within the District. 1611A2 IMMOKALEE FIRE CONTROL DISTRICT Page 24 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE B- CASH AND CASH EQUIVALENTS, CONTINUED Deposits The District's deposit policy allows deposits to be held in demand deposit or money market accounts and other investments per Florida Statutes, Chapter 218.415(17). All District deposits were held in a financial institution designated as a qualified depository by the State Treasurer. At September 30, 2024,the carrying amounts of the District's deposits were $2,196,127 and $3,039,993 in the General Fund and the Impact Fee Fund, respectively. At September 30, 2024, bank balances were $2,291,605 and $3,039,993 in the General Fund and Impact Fee Fund, respectively. These deposits were entirely insured by federal depository insurance or by collateral pursuant to the Public Depository Security Act(Florida Statute 280) of the State of Florida. NOTE C - INVESTMENTS Florida Statutes and the District's investment policy authorize investments in the Florida Fixed Income Trust (FL FIT). Specifically, the District's investment policy is consistent with Florida Statutes, Chapter 218.415(17). At September 30, 2024,the District's investments in the FL FIT-Cash Pool (CP)consist of the following: Fair Value(NAV)/ Cost Carrying Basis Amount General Fund Florida Fixed Income Trust FL FIT-Cash Pool(CP) $ 26,806 $ 26,806 Total investments-General Fund $ 26,806 $ 26,806 Impact Fee Fund Florida Fixed Income Trust FL FIT-Cash Pool(CP) $ 166,299 $ 166,299 Total investments-Impact Fee Fund $ 166,299 $ 166,299 The Florida Fixed Income Trust(FL FIT) Cash Pool (CP)was established in accordance with Florida Statute 163.01 to provide local and state government entities access to diversified, high credit quality strategies for their cash reserves. The Florida Fixed Income Trust (FL FIT) Cash Pool is a floating net asset value (NAV)pool, managed to dollar-in/dollar-out and provides same-day liquidity for participants. 1 6 I i IMMOKALEE FIRE CONTROL DISTRICT Page 25 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE C - INVESTMENTS,CONTINUED The Florida Fixed Income Trust(FL FIT) Cash Pool (CP) is an external 2a7-like investment pool, which is self administered. The Florida Fixed Income Trust(FL FIT)Cash Pool (CP) is not categorized as it is not evidenced by securities that exist in physical or book entry form. The Florida Fixed Income Trust(FL FIT)Cash Pool are stated at fair value, as provided by paragraph 11 of GASB Statement#31. These investments are subject to the risk that the market value of an investment, collateral protecting a deposit or securities underlying an investment will decline and lose value. The Pool is not SEC registered. The Pool reports at fair market value. FL FIT is not required to register(and has not registered)with the SEC; however, the fund is an external investment pool that has historically adopted operating procedures consistent with those required by Florida Statutes. The District's investment in the Florida Fixed Income Trust (FL FIT) Cash Pool (CP) represented approximately less than 1%of the Fund's total investments. At September 30, 2024, the Cash Pool's investments consisted of the following: 17% with commercial paper; 76%with institutional money market deposits and mutual funds; and 7%with certificates of deposit. These short-term investments are stated at fair value. Investment income is recognized as earned and is allocated to participants of the Fund based on their equity participation. The District adheres to GASB Statement No. 79 but does not meet all the GASB Statement No. 79 criteria. Therefore, the Fund meets the criteria to make GASB Statement No. 31 disclosures which are required related to its FL FIT Cash Pool investment: Limitation on Participant Contributions and Withdrawals: FL FIT-Cash Pool has no limitations or restrictions on participant withdrawals,does not charge liquidity fees, and has not put in place a redemption gate. Each participant has the ability to withdraw 100 percent of its account balance any business day that the Investment Advisor is open for trading. The Investment Advisor is open for trading, and the funds will settle on the trading date for trades placed prior to 2:00 PM Eastern Time, and trade date plus one business day(T+1) for trades placed after 2:00 PM Eastern Time. 16I 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 26 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE C - INVESTMENTS, CONTINUED Investment Income,Unrealized Gains/Losses, and Realized Gains/Losses: FL FIT-Cash Pool follows industry practice and records security transactions on a trade date basis. Dividend and interest income is recognized on an accrual basis. Net investment income is distributed to participants at least monthly. Unrealized and realized gains and losses, if any,are distributed to participants on a daily and monthly basis. Distributions to participants are recorded on the ex-dividend date. Valuation: Fair value of the investments in the FL FIT-Cash Pool is determined on a daily basis. Fair value increases and decreases are included in the change in unrealized gains and losses during the period. Net realized gains and losses on sales of securities are computed based on specific identification. Mutual fund securities are recorded at fair value as determined by using net position value as furnished by a pricing service and the number of shares owned. Redemption Gates: Per the Administrator there are no redemption gates. Liquidity Fees: Per the Administrator there are no liquidity fees. Redemption Fees: As of September 30, 2024,there were no redemption fees or maximum transaction amounts,or any other requirements that serve to limit a participant's daily access to 100 percent of their account value. Fair Value: The carrying value of the investments held by the District approximate fair value. However, it is the opinion of the management of Florida Fixed Income Trust(FL FIT) it is exempt from GASB Statement No.72 financial hierarchy disclosures. Foreign Currency Risk: Florida Fixed Income Trust(FL FIT)Cash Pool is not exposed to foreign currency risk during the year ended September 30,2024. Securities Lending: Florida Fixed Income Trust(FL FIT)Cash Pool did not participate in securities lending program during the period October 1,2023,through September 30,2024. Florida Fixed Income Trust(FL FIT)Cash Pool does provide separate audited financial statements for the year ended June 30,2024. At September 30, 2024,the District reported Florida Fixed Income Trust(FL FIT) Cash Pool investments of$193,105. The Florida Fixed Income Trust (FL FIT) Cash Pool carried a credit rating of AAAf/S 1 by Fitch Rating and had a dollar weighted average days to maturity(WAM) of 50 days at September 30, 2024. The Florida Fixed Income Trust(FL FIT) Cash Pool weighted average days to final maturity(WAL)was 305 days at September 30, 2024. The Cash Pool's duration is as follows: expected target duration 0-.5 years; effective duration of.140 years. Rule 2a7 allows funds to use a constant of$1.00 per share. 161 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 27 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE D - DUE TO/FROM OTHER GOVERNMENTS Due from other governments at September 30, 2024, are as follows: Description General Fund Collier County Tax Collector $ 101,957 Other governments 5,332 107,289 Impact Fee Fund Collier County BOCC-Impact fees 77,837 $ 185,126 Management of the District believes the due from other governments amounts to be fully collectible. NOTE E- DUE TO/FROM OTHER FUNDS Interfund receivables and payables at September 30, 2024, are as follows: Due From Due To Other Funds Other Funds General Fund: Impact Fee Total General Fund - - Special Revenue Fund: Impact Fee: General - - Total Special Revenue Fund - - Total Interfund receivables and payables were eliminated for presentation purposes in the Statement of Net Position at September 30, 2024. 1 6 I 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 28 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE F - CAPITAL ASSETS ACTIVITY The following is a summary of changes in capital assets activity for the year ended September 30, 2024: Balance Balance October 1 Increases/ Decreases/ Adjustments/ September 30 2023 Additions Deletions Reclassifications 2024 Capital Assets Not Being Depreciated: Land $ 390,256 $ - $ - $ - $ 390,256 Construction in Progress 6,508,106 348,770 - (6,856,876) - Total Capital Assets Not Being Depreciated 6,898,362 348,770 - (6,856,876) 390,256 Capital Assets Being Depreciated: Buildings 13,316,996 - - 6,856,876 20,173,872 Equipment&Machinery 2,309,079 167,999 (34,748) - 2,442,330 Vehicles 4,840,528 1,468,791 (115,628) - 6,193,691 Total Capital Assets Being Depreciated 20,466,603 1,636,790 (150,376) 6,856,876 28,809,893 Less Accumulated Depreciation: Buildings (1,194,828) (459,978) - - (1,654,806) Equipment&Machinery (958,190) (336,078) 31,387 - (1,262,881) Vehicles (1,645,704) (453,987) 115,628 - (1,984,063) Total Accumulated Depreciation (3,798,722) (1,250,043) 147,015 - (4,901,750) Total Capital Assets Being Depreciated,Net 16,667,881 386,747 (3,361) 6,856,876 23,908,143 Capital Assets,Net $23,566,243 $ 735,517 $ (3,361) $ - 24,298,399 Related debt (9,791,790) Net investment in capital assets $ 14,506,609 Depreciation expense was charged to the following functions during the year ended September 30, 2024: Amount General Government $ 1,250,043 Total Depreciation Expense $ 1,250,043 ib ! 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 29 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE F- CAPITAL ASSETS ACTIVITY,CONTINUED The District has capital assets held under financing leases with a total cost of$3,798,589 at September 30,2024. The capital assets held under financing lease had accumulated depreciation of$1,303,150 and depreciation expense of$407,608 as of and for the year ended September 30, 2024. NOTE G• LONG-TERM LIABILITIES The following is a summary of changes in long-term liabilities for the year ended September 30, 2024: Balance Balance Amounts October I Retirements/ September 30 Due Within 2023 Additions Adjustments 2024 One Year Net pension liability-FRS $ 4,616,173 $ 872,123 $ - $ 5,488,296 $ - Net pension liability-HIS 1,099,842 43,231 - 1,143,073 - Financing lease-BC Explorer 29,099 - (4,431) 24,668 7,884 Financing lease-F250 68,690 - (9,676) 59,014 13,849 Financing lease-pumper 454,474 - (85,679) 368,795 89,271 Financing lease-radios 114,059 - (36,067) 77,992 37,986 Financing lease-ladder truck 959,192 - (126,017) 833,175 129,520 Financing lease-tanker truck 285,483 - (17,740) 267,743 18,357 Financing lease-F250 40,263 - (7,792) 32,471 10,361 Financing lease-Pierce pumper 711,014 - (70,648) 640,366 72,605 Financing lease-Expedition - 105,616 (19,797) 85,819 14,863 Financing lease-Expedition - 96,709 (18,127) 78,582 13,609 Construction loan(Sta 32) 4,930,435 - (307,270) 4,623,165 317,638 Construction loan(Sta 30) 2,700,000 - (2,700,000) - - Construction loan(Sta 30) - 2,700,000 - 2,700,000 103,908 Compensated Absences 533,435 - (9,779) 523,656 - Net OPEB Liability 266,641 90,117 - 356,758 - $ 16,808,800 $ 3,907,796 $ (3,413,023) $ 17,303,573 $ 829,851 The following is a summary of the long-term obligations at September 30, 2024: Amount Net pension obligation-FRS pension plan. This amount is actuarially determined through calculation based upon the audited financial statements of the Florida Retirement Plan. $ 5,488,296 Net pension obligation-HIS plan. This amount is actuarially determined through calculation based upon the audited financial statements of the Florida Retirement Plan. 1,143,073 The District entered into a six year$46,444 financing lease agreement.Annual payments arc$8,929 including interest at 4.2%.Payments began on May 31,2022, with a final payment due May 31,2027.The lease is collateralized by the Ford Explorer. 24,668 The District entered into a six year$85,039 financing lease agreement.Annual payments are$16,349 including interest at 4.2%.Payments began on June 26,2023, with a final payment due June 26,2028.The lease is collateralized by the F250 truck. 59,014 1 6 I 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 30 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE G • LONG-TERM LIABILITIES, CONTINUED The District entered into a eight year$764,074 financing lease agreement.Annual payments are$104,731 including fixed interest of 4.19%.Payments began on January 7,2020 with a final payment due January 7,2027.The lease agreement is collateralized by the respective pumper truck. 368,795 The District entered into a seventy-five(75)month$231,713 financing lease agreement. Initial payment of$23,171,then six(6)annual payments of$42,135 including fixed interest of 5.32%.Payments began on October I,2019,with a final payment due October 1,2025.The lease is collateralized by the respective radio equipment. 77,992 The District entered into a ten(10)year$1,315,897 financing lease agreement. Annual payments are$152,682 including fixed interest of 2.78%. Payments began on June 20,2021,with a final payment due on April 20,2030.The lease is collateralized by the respective ladder truck. 833,175 The District entered into a fifteen(15)year$319,193 financing lease agreement. Annual payments are$27,675 including fixed interest of 3.48%. Payments began on October 19,2021,with a final payment due on October 19,2035.The lease is collateralized by the tanker truck. 267,743 The District entered into a six year$61,330 financing lease agreement.Annual payments are$11,791 including interest at 4.4%.Payments began on May 10,2022, with a final payment due May 10,2027.The lease is collateralized by the respective F250 truck. 32,471 The District entered into a ten year$779,758 financing lease agreement.Annual payments are$90,339 including interest at 2.77%.Payments began on December 20, 2022,with a final payment due December 20,2031.The lease is collateralized by the respective Pierce pumper. 640,366 The District entered into a six year$105,616 financing lease agreement.Annual payments are$21,048 including interest at 7.2%.Payments began on April 30,2024,with a final payment due April 30,2029.The lease is collateralized by the respective Ford Expedition. 85,819 The District entered into a six year$96,709 financing lease agreement.Annual payments are$19,273 indluding interest at 7.2%.Payments began on April 30,2024, with a final payment due April 30,2029.The lease is collateralized by the respective Ford Expedition. 78,582 The District entered a$5,500,000 loan March 2,2020,to fund the construction of Station 32.The loan is payable in one hundred eighty(180)payments of principal and interest of$38,388 beginning October 21,2022.The loan matures September 21,2036. Interest accrues at 3.15% per year. This loan is collateralized by Impact Fees. 4,623,165 The District entered into a$2,700,000 interest only loan on September 1,2023,to fund the construction of Station 30.Monthly interest payments at 4.55%are due monthly beginning October 21,2023.Final payment of principal plus accrued interest was due on September 21,2024.The loan was replaced with the$2,700,000 long term loan. The loan was collateralized by Ad Valorem revenues.This loan replaced the original$3,000,000 construction loan for Station 30. 1 6 I 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 31 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE G- LONG-TERM LIABILITIES, CONTINUED The District entered into a$2,700,000 loan on September 20,2024 to refinance the loan for construction of Station 30.Payments of$22,212 including interest at 5.5%are due monthly beginning November 1,2024,with a final payment due on October 1,2039.The loan is collateralized by impact fees and Gaming Compact revenues.This loan replaced the$2,700,000 construction loan for Station 30. 2,700,000 Non-current portion of compensated absences. Employees of the District are entitled to paid leave(sick,vacation and comp time)based on length of service and job classification. 523,656 Net OPEB liability-actuarially determined-GASB No.75. 356,758 Total long-term liabilities 17,303,573 Current portion (829,851) Noncurrent portion $ 16,473,722 The annual debt service requirements at September 30, 2024, were as follows: Years Ending Total Total September 30 Principal Interest Total 2025 $ 829,851 $ 379,510 $ 1,209,361 2026 876,636 345,526 1,222,162 2027 955,837 311,657 1,267,494 2028 779,050 275,526 1,054,576 2029 792,666 245,560 1,038,226 2030-2034 3,383,897 814,221 4,198,118 2035-2039 2,151,743 213,471 2,365,214 2040 22,110 103 22,213 Total debt 9,791,790 2,585,574 12,377,364 Net pension liability-FRS 5,488,296 - 5,488,296 Net pension liability-HIS 1,143,073 - 1,143,073 Accrued compensated absences-vacation 523,656 - 523,656 Net OPEB obligation 356,758 - 356,758 Total long-term debt $ 17,303,573 $ 2,585,574 $ 19,889,147 Interest expense related to the capital leases payable was $98,484 for the year ended September 30, 2024. Interest expense related to the construction loans was $278,288 for the year ended September 30, 2024. 1 6 I 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 32 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE H - RETIREMENT PLAN-DEFINED BENEFIT PENSION PLAN General Information about the Florida Retirement System The Florida Retirement System("FRS") was created in Chapter 121, Florida Statutes. The FRS was created to provide a defined benefit pension plan("Pension Plan") for participating public employees. All District employees are participants in the Statewide Florida Retirement System(FRS)under authority of Article X, Section 14 of the State Constitution and Florida Statutes, Chapters 112 and 121. The FRS was amended in 1998 to add the Deferred Retirement Option Program("DROP") under the defined benefit plan and amended in 2000 to provide an integrated defined contribution plan alternative to the defined benefit plan for FRS members effective July 1, 2002. This integrated defined contribution pension plan is the FRS Investment Plan. Chapter 112, Florida Statutes, established the Retiree Health Insurance Subsidy(HIS)Program, a separate cost-sharing, multiple-employer defined benefit pension plan to assist retired members of any State-administered retirement system in paying the costs of health insurance. Essentially all regular employees of the District are eligible to enroll as members of the State-administered FRS. Provisions relating to the FRS are established by Chapters 121 and 122,Florida Statutes; Chapter 112,Part IV, Florida Statutes; Chapter 238, Florida Statutes; and Florida Retirement System Rules, Chapter 60S, Florida Administrative Code; wherein eligibility, contributions, and benefits are defined and described in detail. Such provisions may be amended at any time by further action from the Florida Legislature. The FRS is a single retirement system administered by the Florida Department of Management Services, Division of Retirement, and consists of two cost-sharing, multiple-employer defined benefit plans (Pension and HIS Plans) and other nonintegrated programs. A comprehensive annual financial report of the FRS, which includes its financial statements, required supplementary information, actuarial report, and other relevant information dated June 30, 2024, is available from the Florida Department of Management Services'Website (www.dms.myflorida.com). The District's total pension expense, $1,206,428 for the year ended September 30, 2024, is recorded in the government-wide financial statements. Total District actual retirement contribution expenditures were $1,102,119, $751,548 and $645,398 for the years ended September 30, 2024, 2023, and 2022,respectively. The District contributed 100% of the required contributions. 1 6 I 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 33 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE H- RETIREMENT PLAN -DEFINED BENEFIT PENSION PLAN, CONTINUED FRS Pension Plan Plan Description. The FRS Pension Plan ("Plan") is a cost-sharing, multiple- employer defined benefit pension plan, with a Deferred Retirement Option Program (DROP) for eligible employees. The general classes of membership are as follows: Regular Class - Members of the FRS who do not qualify for membership in the other classes. Senior Management Service Class (SMSC) -Members in senior management level positions. Special Risk Class -Members who are employed as certified firefighters and meet the criteria to qualify for this class. Elected Officials - Members who are elected by the voters within the District boundaries. Employees enrolled in the Plan prior to July 1, 2011, vest at six years of creditable service and employees enrolled in the Plan on or after July 1, 2011, vest at eight years of creditable service. All vested members, enrolled prior to July 1, 2011, are eligible for normal retirement benefits at age 62 or at any age after 30 years of service, except for those members classified as special risk who are eligible for normal retirement benefits at age 55 and 6 years of service or at any age after 25 years of service. All members enrolled in the Plan on or after July 1, 2011, once vested, are eligible for normal retirement benefits at age 65 and 8 years of service or any time after 33 years of creditable service, except for members classified as special risk who are eligible for normal retirement benefits at age 60 with 8 years of service or at any age after 30 years of service. However, effective July 1, 2023, for special risk who enrolled on or after July 1, 2011, normal retirement date changed to the earlier of 25 years of creditable service or age 55. Members of both Plans (Pension and HIS)may include up to 4 years of credit for military service toward creditable service. The Plan also includes an early retirement provision; however, there is a benefit reduction for each year a member retires before his or her normal retirement date. The Plan provides retirement, disability, death benefits, and annual cost of living adjustments to eligible participants. DROP, subject to provisions of Section 121.091, Florida Statutes, permits employees eligible for normal retirement under the Plan to defer receipt of monthly benefit payments while continuing employment with an FRS employer. An employee may elect to participate in DROP at any time after reaching normal retirement date. 16IIA2 IMMOKALEE FIRE CONTROL DISTRICT Page 34 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE H- RETIREMENT PLAN-DEFINED BENEFIT PENSION PLAN, CONTINUED FRS Pension Plan, continued Effective July 1, 2023, an employee may participate in DROP for a period not to exceed 96 months (8 years) after electing to participate except for certain instructional personnel who can participate for 120 months. During the period of DROP participation, deferred monthly benefits are held in the FRS Trust Fund and accrue interest. Interest accrues at 4% on DROP accumulation held on or after July 1,2023, and at 1.3%prior. The net pension liability does not include amounts for DROP participants, as these members are considered retired and are not accruing additional pension benefits. The restricted 12 month election window was removed. Participants may elect to enter DROP at anytime after becoming fully vested and reaching normal retirement age. Benefits Provided. Benefits under the Plan are computed on the basis of age, and/or years of service, average final compensation, and credit service. Credit for each year of service is expressed as a percentage of the average final compensation. For members initially enrolled before July 1, 2011, the average final compensation is the average of the five highest fiscal years' earnings; for the members initially enrolled on or after July 1, 2011,the average final compensation is the average of the eight highest fiscal years' earnings. The total percentage value of the benefit received is determined by calculating the total value of all service, which is based on retirement plan and/or the class to which the member belonged when the service credit was earned. Members are eligible for in-line-of-duty or regular disability and survivors' benefits. The following chart shows the percentage value of each year of service credit earned: Class,Initial Enrollment,and Retirement Age/Years of Service %Value Regular Class and elected members initially enrolled before July 1,2011 Retirement up to age 62,or up to 30 years of service 1.60 Retirement at age 63 or with 31 years of service 1.63 Retirement at age 64 or with 32 years of service 1.65 Retirement at age 65 or with 33 or more years of service 1.68 Regular Class and elected members initially enrolled on or after July 1,2011 Retirement up to age 65 or up to 33 years of service 1.60 Retirement at age 66 or with 34 years of service 1.63 Retirement at age 67 or with 35 years of service 1.65 Retirement at age 68 or with 36 or more years of service 1.68 Special Risk Regular Service from December 1, 1970 through September 30, 1974 2.00 Service on or after October 1, 1974 3.00 16I1A ?_ IMMOKALEE FIRE CONTROL DISTRICT Page 35 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE H- RETIREMENT PLAN -DEFINED BENEFIT PENSION PLAN, CONTINUED FRS Pension Plan, continued Senior Management Service Class 2.00 Elected Officers'Class 3.00 As provided in Section 121.101, Florida Statutes, if the member is initially enrolled in the FRS before July 1, 2011, and all service credit was accrued before July 1, 2011, the annual cost-of-living adjustment is 3 percent per year. If the member is initially enrolled before July 1, 2011, and has service credit on or after July 1, 2011, there is an individually calculated cost-of-living adjustment. The annual cost-of-living adjustment is a proportion of 3 percent determined by dividing the sum of the pre-July 2011 service credit by the total service credit at retirement multiplied by 3 percent. Plan members initially enrolled on or after July 1, 2011, will not have a cost-of-living adjustment after retirement. Contributions. The Florida Legislature establishes contribution rates for participating employers and employees. Contribution rates during the year ended September 30, 2024, were as follows: Percent of Gross Salary* Class(1) Employee Employer(2) Employer(3) Florida Retirement System,Regular 3.00 13.63 13.57 Florida Retirement System,Senior Management Service 3.00 34.52 34.52 Florida Retirement System,Special Risk 3.00 32.79 32.67 Deferred Retirement Option Program-Applicable to Members from All of the Above Classes 0.00 21.13 21.13 Florida Retirement System,Reemployed Retiree (2) N/A N/A Florida Retirement System,Elected Official 3.00 58.68 58.68 Notes: (I) Contribution rates are dependent upon retirement class in which reemployed. (2) Employer rates include 2.0 percent for the post employment health insurance subsidy. Also, employer rates,other than for DROP participants,include.06 percent for administrative costs for the Investment Plan. Rates for 7/1/24-6/30/25. (3) Employer rates include 2.0 percent for the post employment health insurance subsidy. Also, employer rates,other than for DROP participants,include.06 percent for administrative costs for the Investment Plan. Rates for 7/1/23-6/30/24. As defined by the Plan. 161 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 36 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE H- RETIREMENT PLAN-DEFINED BENEFIT PENSION PLAN, CONTINUED FRS Pension Plan, continued Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to the Pension Plan. At September 30, 2024, the District reported a pension liability of$5,488,296 for its proportionate share of the net pension liability. The net pension liability was measured as of June 30, 2024, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2024. The District's proportionate share of the net pension liability was based on the District's 2023-24 fiscal year contributions relative to the total 2023-24 fiscal year contributions of all participating members. At September 30, 2024,the District's proportionate share was .014187252 percent,which was an increase of.002602459 percent from its proportionate share measure as of September 30, 2023. For the year ended September 30, 2024, the District recognized a pension expense of$1,134,042. In addition, the District reported deferred outflows of resources and deferred inflows of resources related to the pension from the following sources: Deferred Outflows Deferred Inflows Description of Resources of Resources Differences between expected and actual experience $ 554,465 $ - Change of assumptions 752,219 Net difference between projected and actual earnings on pension plan investments - 364,781 Changes in proportion and differences between District contributions and proportionate share of contributions 830,847 137,273 District contributions subsequent to the measurement date 244,169 - Total $ 2,381,700 $ 502,054 161 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 37 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE H - RETIREMENT PLAN-DEFINED BENEFIT PENSION PLAN,CONTINUED FRS Pension Plan, continued The deferred outflows of resources related to the FRS pension, totaling$244,169, resulting from District contributions subsequent to the measurement date, will be recognized as a reduction on the net pension liability in the fiscal year ended September 30, 2025. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to the pension will be recognized in pension expense over the remaining service period of 5.3 years as follows: Fiscal Years Ending September 30 Amount 2025 $ 373,981 2026 373,981 2027 373,981 2028 373,980 2029 465,176 Thereafter (325,622) Total $ 1,635,477 Actuarial Assumptions. The total pension liability in the July 1, 2024, actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement: Valuation date July I,2024 Measurement date June 30,2024 Inflation 2.40 percent Real payroll growth 1.1 percent Salary increases 3.50 percent, average, including inflation Investment rate of return 6.70 percent,net of pension plan investment expense, including inflation Actuarial cost method Individual entry age Mortality rates were based on the Generational PUB-2010 with Projection Scale MP-2021. The actuarial assumptions used in the July 1, 2024, valuation were based on the results of an actuarial experience study for the period July 1, 2018, through June 30, 2023. 1 6 1 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 38 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE H - RETIREMENT PLAN-DEFINED BENEFIT PENSION PLAN, CONTINUED FRS Pension Plan, continued • The long-term expected rate of return on pension plan investments was not based on historical returns, but instead is based on a forward-looking capital market economic model. The allocation policy's description of each asset class was used to map the target allocation to the asset classes shown below. Each asset class assumption is based on a consistent set of underlying assumptions, and includes an adjustment for the inflation assumption. The target allocation and best estimates of arithmetic and geometric real rates of return for each major asset class are summarized in the following table: Compound Annual Annual Target Arithmetic (Geometric) Standard Asset Class Allocation(1) Return Return Deviation Cash 1.00% 3.3% 3.3% 1.1% Fixed income 29.00% 5.7% 5.6% 3.9% Global equity 45.00% 8.6% 7.0% 18.2% Real estate(property) 12.00% 8.1% 6.8% 16.6% Private equity 11.00% 12.4% 8.8% 28.4% Strategic investments 2.00% 6.6% 6.2% 8.7% Total 100.00% Assumed inflation-Mean 2.40% 1.50% (1)As outlined in the Plan's investment policy Money-weighted Rate of Return. The annual money-weighted rate of return on the FRS Pension Plan investments for the year ended September 30,2024,was 10.33%. Discount Rate. The discount rate used to measure the total pension liability was 6.70 percent. The Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the discount rate for calculating the total pension liability is equal to the long-term expected rate of return. 611A2 IMMOKALEE FIRE CONTROL DISTRICT Page 39 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE H- RETIREMENT PLAN-DEFINED BENEFIT PENSION PLAN, CONTINUED FRS Pension Plan, continued Sensitivity of the District's Proportionate Share of the Net Pension Liability to Changes in the Discount Rate. The following presents the District's proportionate share of the net pension liability calculated using the discount rate of 6.70 percent, as well as what the District's proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage-point lower(5.70 percent) or 1-percentage-point higher(7.70 percent) than the current rate: 1% Current 1% Decrease Discount Rate Increase (5.70%) (6.70%) (7.70%) District's proportionate share of the net FRS pension liability $ 9,653,721 $ 5,488,296 $ 1,998,870 Pension Plan Fiduciary Net Position. Detailed information about pension plan's fiduciary net position is available in the separately issued FRS Pension Plan and Other State Administered Systems Annual Comprehensive Financial Report (FRS ACFR) dated June 30,2024. The FRS ACFR and actuarial reports may also be obtained by contacting the Division of Retirement at: Department of Management Services Division of Retirement Bureau of Research and Member Communications P.O. Box 9000 Tallahassee, FL 32315-9000 850-488-5706 or toll free at 877-377-1737 http://www.dms.mvflorida.com/workforce operations/retirement/publications Payables to the Pension Plan. At September 30, 2024, the District reported a payable of$14,074 for the outstanding amount of contributions in the pension plan required for the year ended September 30, 2024. 161 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 40 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE H - RETIREMENT PLAN-DEFINED BENEFIT PENSION PLAN, CONTINUED Health Insurance Subsidy(HIS) Plan Plan Description.The Health Insurance Subsidy Plan("HIS Plan") is a cost-sharing, multiple-employer defined benefit pension plan established under Section 112.363, Florida Statutes. The benefit is a monthly payment to assist retirees of State-administered retirement systems in paying their health insurance costs and is administered by the Division of Retirement within the Florida Department of Management Services. Benefits Provided. For the year ended September 30, 2022, eligible retirees and beneficiaries received a monthly HIS payment equal to the number of years of creditable service completed at the time of retirement multiplied by$5. The payments are at least $30 but not more than $150 per month, pursuant to Section 112.363, Florida Statutes. To be eligible to receive a HIS Plan benefit, a retiree under a State-administered retirement system must provide proof of health insurance coverage, which can include Medicare. Contributions. The HIS Plan is funded by required contributions from FRS participating employers as set by the Florida Legislature. Employer contributions are a percentage of gross compensation for all active FRS members. For the years ended September 30, 2024 and 2023, the contribution rate was 2.0 percent of payroll pursuant to Section 112.363, Florida Statutes. The District contributed 100 percent of its statutorily required contributions for the current and preceding three years. HIS Plan contributions are deposited in a separate trust fund from which HIS payments are authorized. HIS Plan benefits are not guaranteed and are subject to annual legislative appropriation. In the event the legislative appropriation or available funds fail to provide full subsidy benefits to all participants,benefits may be reduced or cancelled. Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to the HIS Plan. At September 30,2024,the District reported a HIS liability of$1,143,073 for its proportionate share of the net HIS Plan's net pension liability. The net pension liability was measured as of June 30, 2024, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2024. The District's proportionate share of the net HIS liability was based on the District's 161 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 41 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE H - RETIREMENT PLAN -DEFINED BENEFIT PENSION PLAN,CONTINUED Health Insurance Subsidy(HIS) Plan,continued 2023-24 fiscal year contributions relative to the total 2023-24 fiscal year contributions of all participating members. At September 30, 2024,the District's proportionate share was .007619993 percent,which was an increase of.000694615 percent from its proportionate share measured as of September 30, 2023. For the fiscal year ended September 30, 2024,the District recognized HIS expense of$72,386. In addition, the District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Outflows Deferred Inflows Description of Resources of Resources Differences between expected and actual experience $ 11,037 $ 2,195 Change of assumptions 20,230 135,325 Net difference between projected and actual earnings on HIS pension plan investments - 413 Changes in proportion and differences between District HIS contributions and proportionate share of HIS contributions 159,574 9,727 District contributions subsequent to the measurement date 19,230 - Total $ 210,071 $ 147,660 The deferred outflows of resources related to HIS, totaling$19,230, resulting from District contributions subsequent to the measurement date,will be recognized as a reduction on the net pension liability in the year ended September 30,2025. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense over the remaining service period of 6.3 years as follows: Fiscal Years Ending September 30 Amount 2025 $ 8,122 2026 8,122 2027 8,122 2028 8,121 2029 8,225 Thereafter 2,469 Total $ 43,181 1 6 I 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 42 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE H - RETIREMENT PLAN-DEFINED BENEFIT PENSION PLAN, CONTINUED Health Insurance Subsidy(HIS)Plan, continued Actuarial Assumptions. The total pension liability in the July 1, 2024, actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement: Inflation 2.40 percent Real Payroll Growth 1.1 percent Salary Increases 3.50 percent,average,including inflation Municipal Bond Rate 3.93 percent Annual Cost Method Individual entry age Mortality rates were based on the Generational PUB-2010 with Projected Scale MP-2021. Because the HIS Plan is funded on a pay-as-you-go basis, no experience study has been completed for the Plan. Discount Rate. The discount rate used to measure the total HIS liability was 3.93 percent. In general, the discount rate for calculating the total HIS liability is equal to the single rate equivalent to discounting at the long-term expected rate of return for benefit payments prior to the projected depletion date. Because the HIS benefit is essentially funded on a pay-as-you-go basis, the depletion date is considered to be immediate, and the single equivalent discount rate is equal to the municipal bond rate selected by the plan sponsor. The Bond Buyer General Obligation 20-Bond Municipal Bond Index was adopted as the applicable municipal bond index. Sensitivity of the District's Proportionate Share of the Net HIS Liability to Changes in the Discount Rate. The following presents the District's proportionate share of the net HIS liability calculated using the discount rate of 3.93 percent, as well as what the District's proportionate share of the net HIS liability would be if it were calculated using a discount rate that is 1-percentage-point lower(2.93 percent) or 1-percentage-point higher(4.93 percent)than the current rate: 1% Current 104 Decrease Discount Rate Increase (2.93%) (3.93%) (4.93%) District's proportionate share of the net HIS liability $ 1,301,242 $ 1,143,073 $ 1,011,768 161 I A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 43 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE H- RETIREMENT PLAN -DEFINED BENEFIT PENSION PLAN, CONTINUED Health Insurance Subsidy(HIS) Plan,continued Pension Plan Fiduciary Net Position. Detailed information about the HIS plan's fiduciary net position is available in the separately issued FRS Pension Plan and Other State Administered Annual Comprehensive Financial Report(FRS ACFR) dated June 30, 2024. The FRS ACFR and actuarial reports may also be obtained by contacting the Division of Retirement at: Department of Management Services Division of Retirement Bureau of Research and Member Communications P.O. Box 9000 Tallahassee, FL 32315-9000 850-488-5706 or toll free at 877-377-1737 http:!/www.dms.myflorida.com/workforce operations/retirement/publications Payables to the Pension Plan. At September 30, 2024, the District reported a payable of$898 for the outstanding amount of contributions to the HIS plan required for the fiscal year ended September 30, 2024. FRS-Defined Contribution Pension Plan The SBA administers the defined contribution plan officially titled the FRS Investment Plan (Investment Plan). The Investment Plan is reported in the SBA's annual financial statements and in the State of Florida Annual Comprehensive Financial Report. As provided in Section 121.4501,Florida Statutes, eligible FRS members may elect to participate in the Investment Plan in lieu of the FRS defined benefit plan. District employees participating in DROP are not eligible to participate in the Investment Plan. Employer and employee contributions, including amounts contributed to individual member's accounts, are defined by law, but the ultimate benefit depends in part on the performance of investment funds. Benefit terms, including contribution requirements, for the Investment Plan are established and may be amended by the Florida Legislature. The Investment Plan is funded with the same employer and employee contribution rates that are based on salary and membership class (Regular Class, Elected County Officers, etc.), as the FRS defined benefit plan. Contributions 16I 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 44 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE H- RETIREMENT PLAN -DEFINED BENEFIT PENSION PLAN, CONTINUED FRS -Defined Contribution Pension Plan,continued are directed to individual member accounts, and the individual members allocate contributions and account balances among various approved investment choices. Costs of administering the plan, including FRS Financial Guidance Program, are funded through an employer contribution of 0.06 percent of payroll and by forfeited benefits of plan members. Allocations to the investment member's accounts during the 2023-24 fiscal year were as follows: Percent of Gross Salary* Class(1) Employee Employer(2) Employer(3) Florida Retirement System,Regular 3.00 8.30 8.30 Florida Retirement System,Senior Management Service 3.00 9.67 9.67 Florida Retirement System,Special Risk 3.00 16.0 16.0 Florida Retirement System,Elected Official 3.00 13.34 13.34 Notes: (1) Contribution rates are dependent upon retirement class in which reemployed. (2) Employer rates include 1.66 percent for the post employment health insurance subsidy. Also, employer rates,other than for DROP participants,include.06 percent for administrative costs for the Investment Plan. Rates for 7/1/22-6/30/23. (3) Employer rates include 2.0 percent for the post employment health insurance subsidy. Also, employer rates,other than for DROP participants,include.06 percent for administrative costs for the Investment Plan. Rates for 7/1/23-6/30/24. " As defined by the Plan. Effective July 1, 2023, employer contribution rates increased by 2%in all membership classes. For all membership classes, employees are immediately vested in their own contributions and are vested after 1 year of service for employer contributions and investment earnings. If an accumulated benefit obligation for service credit originally earned under the FRS Pension Plan is transferred to the Investment Plan, the member must have the years of service required for FRS Pension Plan vesting(including the service credit represented by the transferred funds)to be vested for these funds and the earnings on the funds. Nonvested employer contributions are placed in a suspense account for up to 5 years. If the employee returns to FRS-covered employment within the 5-year period, the employee will regain control over their account. If the employee does not return within the 5 year period,the employee will forfeit the accumulated account balance. For the fiscal year ended September 30, 2024, the information for the amount of forfeitures was unavailable from the SBA; however, management believes that these amounts, if any,would be immaterial to the District. 1 6 I 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 45 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE H - RETIREMENT PLAN -DEFINED BENEFIT PENSION PLAN, CONTINUED FRS - Defined Contribution Pension Plan, continued After termination and applying to receive benefits, the member may rollover vested funds to another qualified plan, structure a periodic payment under the Investment Plan,receive a lump-sum distribution, leave the funds invested for future distribution, or any combination of these options. Disability coverage is provided; the member may either transfer the account balance to the FRS Pension Plan when approved for disability retirement to receive guaranteed lifetime monthly benefits under the FRS Pension Plan, or remain in the Investment Plan and rely upon that account balance for retirement income. The District's Investment Plan pension expense totaled$279,304 for the fiscal year ended September 30, 2024. Payables to the Investment Plan. At September 30, 2024,the District reported a payable of$0 for the outstanding amount of contributions to the Plan required for the fiscal year ended September 30, 2024. Other Retirement Plan Effective June 2020,the District initiated a 401(a)plan for the District's Fire Chief. Effective January 2019, the District began offering two (2)457(b) Deferred Compensation Plans to all employees which allows for salary deferrals with no employer contributions. NOTE I - PROPERTY TAXES Property taxes are levied after formal adoption of the District's budget and become due and payable on November 1 of each year and are delinquent on April 1 of the following year. Discounts on property taxes are allowed for payments made prior to the April 1 delinquent date. Tax certificates are sold to the public for the full amount of any unpaid taxes and must be sold not later than June 1 of each year. The billing, collection, and related recordkeeping of all property taxes is performed for the District by the Collier County Tax Collector. No accrual for the property tax levy becoming due in November 2024, is included in the accompanying financial statements, since such taxes are collected to finance expenditures of the subsequent period. 161 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 46 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE I- PROPERTY TAXES, CONTINUED Procedures for collecting delinquent taxes, including applicable tax certificate sales and tax deed sales, are provided for by Florida Statutes. The enforceable lien date is approximately two years after taxes become delinquent and occurs only upon request of a holder of a delinquent tax certificate. As of September 30, 2024, $101,957 was due from the Collier County Tax Collector for ad valorem taxes and excess fees. Important dates in the property tax cycle are as follows: Assessment roll certified July 1 Millage resolution approved No later than 93 days following certification of assessment roll Beginning of fiscal year for which taxes have been levied October 1 Taxes due and payable(levy date) November 1 with various discount provisions through March 31 Property taxes payable- maximum discount(4 percent) 30 days after levy date Due date March 31 Taxes become delinquent(lien date) April 1 Tax certificates sold by the Collier County Tax Collector Prior to June 1 For the year ended September 30, 2024, the Board of Commissioners of the District levied ad valorem taxes at a millage rate of$3.75 per$1,000 (3.75 mills) of the 2023 net taxable value of real property located within the District. NOTE J - IMPACT FEE FUND ACTIVITY During the year ended September 30, 2024, the Impact Fee Fund had the following activity: Amount Unearned revenue,October 1,2023 $ 3,306,227 Impact fee receipts* 1,958,408 Debt proceeds - Interest income 141,617 Professional fees(impact fee study) - Commissions(admin fee)-paid to Collier County (19,544) Debt service-principal (441,080) Debt service-interest (183,901) Capital outlay (1,490,376) Unearned revenue,September 30,2024 $ 3,271,351 *Includes$77,837 due from Collier County. 161 1A IMMOKALEE FIRE CONTROL DISTRICT Page 47 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE J - IMPACT FEE FUND ACTIVITY, CONTINUED The District used impact fees to purchase a Pumper truck. The District placed the order in March 2024 and delivery is expected to occur 40 months after the date of purchase. NOTE K- RISK MANAGEMENT The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. Insurance programs for general/professional liability, automobile and property are covered by commercial insurance. The District retains the risk of loss up to a deductible amount(ranging from $0 to $2,500)with the risk of loss in excess of this amount transferred to the insurance carrier with limits of liability of$1,000,000 per occurrence and $10,000,000 in the aggregate. The District is third party insured for employee health, dental and vision as well as workers'compensation. NOTE L- FUND BALANCE ALLOCATIONS Fund balance was allocated for the following purposes at September 30, 2024: Nonspendable Fund Balance Amount General Fund Prepaid expenditures $ 135,642 Total Nonspendable Fund Balance-General Fund 135,642 Assigned Fund Balance General Fund Assigned for fiscal year startup(90 day operations) 1,400,000 Vehicle 26,500 Capital purchases 97,000 Disaster/Emergency 197,128 Debt reduction 102,798 Budgeted deficit 361,103 COVID Grant Replacement Vehicle 25,000 Building Station 31 48,154 Total Assigned Fund Balance-General Fund 2,257,683 Unassigned Fund Balance Unassigned - Total Fund Balance-General Fund $ 2,393,325 I 6 1 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 48 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE M-POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS (OPEB) Plan Description The District's defined contribution OPEB Plan provides the opportunity to obtain health insurance,pharmacy, dental and vision benefits to its retired employees and their dependents. The year ended September 30, 2018, was the District's transition year and as such, the District implemented GASB No. 75 "Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions". GASB No. 75 requires the District record its actuarially determined total OPEB liability. All retired full-time employees are eligible for OPEB benefits if actively employed by the District immediately before retirement. As of September 30, 2024, there were no retirees eligible to receive benefits. At September 30, 2024, there were forty-four (44) active full time eligible District employees and zero(0) inactive. The benefits are provided both with contractual or labor agreements. The benefits require 100% contribution from the retirees, depending on certain specified criteria and, in particular, length of creditable employment. There is no requirement for the District to contribute toward this benefit and the District does not contribute toward this benefit. The minimum retirement age is 62 for administrative and 55 years old for special risk. The minimum years of service requirement is 10 years consistent with the FRS Plan. The District's contributions for these benefits totaled$0 during the year ended September 30, 2024. Funding Policy The District's OPEB benefits are unfunded. The retiree is eligible for benefits under the District's health and pharmacy plan, but is obligated to reimburse the District for 100% of the cost of the retiree's health coverage. As such, the District has no ultimate obligation (explicit subsidy) for the retiree's health insurance premium. The District acts as agent for the retiree on a pay-as-you-go basis and recognizes expenditures at the time the premiums are due. The District does, however, incur the cost of premium rate being increased on its active employees (implicit subsidy) due to providing coverage to its retirees. The District has not determined if a separate trust fund or equivalent arrangement will be established into which the District would make contributions to advance-fund the obligation. Therefore, no separate financial statement is issued. All required disclosures are presented herein. The Plan's measurement date was September 30,2024. The Plan's valuation date was September 30, 2024. 161 1A ?_ IMMOKALEE FIRE CONTROL DISTRICT Page 49 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE M -POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS (OPEB),CONTINUED Funding Policy,continued The retiree pays 100% of the retiree health coverage therefore there is no explicit subsidy. The retiree may purchase dependent coverage through the District. At age 65, the retiree then must move to Medicare but may continue to purchase dental and vision coverage through the District. The District finances the benefits on a pay-as-you-go basis and recognizes expenditures at the time the premiums are due. The District subsidizes the premium rates paid by retirees by allowing them to participate at blended premium rates for both active and retired employees. These rates provide an implicit subsidy for retirees because, on an actuarial basis, retiree claims are expected to result in higher costs to the plan on average than those of active employees. The projection of future benefit payments for an ongoing plan involves estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality, and the healthcare cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future. The schedule of funding progress presents multiyear trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liabilities for benefits. Actuarial Methods and Assumptions Projections of benefits for financial reporting purposes are based on the substantive plan(the plan as understood by the employer and plan members) and include types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and plan members to that point. The methods and assumptions used include techniques that are designed to reduce the effects of short-term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term perspective of the calculations. 161 1 A ? IMMOKALEE FIRE CONTROL DISTRICT Page 50 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE M -POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS (OPEB),CONTINUED Actuarial Methods and Assumptions, continued At September 30, 2024,the District's Net OPEB Liability of$356,758 was measured as of September 30, 2024, and was determined by an actuarial valuation as of that date using the alternate measurement method. The following actuarial assumptions and other inputs were applied to all periods included in the measurement: The following simplifying assumptions were made: Mortality-Life expectancies were based on PubG-2010 Mortality Tables for Males and Females projected 10 years using MP-2019. Actuarial Cost Method-Entry age normal cost method.(level%of pay) Annual healthcare cost trend using the Society of Actuaries Long-Run Medical Cost Trend Model baseline assumptions with an initial rate of 6.75%per year trending to ultimate 4.00%by 2075. Turnover-Derived from data maintained by the US Office of Personnel Management regarding the most recent experience of the employee group covered by the Federal Employees Retirement System. Amortization Period: Rolling 20 year amortization Amortization Method: Level percentage of payroll The discount rate was 4.87%for 2023(4.77%for 2022)(2.43%for 2021)(2.41%for 2020)(2.21% for 2019)(4.23%for 2018)(2.8%for 2017)and was based on the 20 Year Municipal Bond Rate with Aa2/AA or higher. Salary Increases 2.50% Discount Rate 4.06% Inflation Rate 2.50% Years to Ultimate 51 years The FRS salary scale was used. Participation percentage:20% Valuation Date September 30,2024 The actuarial assumptions used in the September 30,2024(valuation date)were calculated using alternative measurement method in accordance with GASB methodology. The rationales for selecting each of the assumptions used in the financial accounting valuation and for the assumptions changes summarized above are to best reflect the current market conditions and recent plan experience. 161 IA2 IMMOKALEE FIRE CONTROL DISTRICT Page 51 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE M-POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS (OPEB), CONTINUED Changes in the Net OPEB Liability Amount Balance at September 30, 2023 $ 266,641 Changes for the Year: Service Cost 14,564 Interest Cost on Total OPEB Liability 13,633 Change in Benefit Terms Difference Between Expected and Actual Experience 21,138 Changes in Assumptions 43,308 Benefit Payments (2,526) Net Changes 90,117 Balance at September 30, 2024 $ 356,758 The following presents the net OPEB liability of the District as well as what the District's net OPEB liability would be if it were calculated using a discount rate that is 1 percent higher or 1 percent lower than the current discount rate. 1%Decrease Current Rate 1%Increase 3.06% 4.06% 5.06% Net OPEB Liability $ 421,745 $ 356,758 $ 304,308 The following presents the net OPEB liability of the District as well as what the District's net OPEB liability would be if it were calculated using healthcare trend rates that are 1 percent higher or 1 percent lower than the current healthcare trend rate. 1%Decrease Trend Rate 1%Increase 3.0-5.75% 4.0-6.75% 5.0-7.75% Net OPEB Liability $ 301,290 $ 356,758 $ 425,587 1 6 I 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 52 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30,2024 NOTE M -POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS (OPEB),CONTINUED Changes in the Net OPEB Liability,continued For the year ended September 30, 2024, the District recognized OPEB expense (credit) of$96,418. At September 30, 2024, the District reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources: Deferred Deferred Outflows of Inflows of Resources* Resources* Differences Between Expected and Actual Experience $ - $ - Changes in Assumptions -Net difference between projected and actual earnings - - Employer contribution subsequent to measurement date - - Total Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows: Year Ended September 30: Amount* 2025 5 - 2026 - 2027 - 2028 - 2029 - Total Thereafter - $ *Per GASB No. 75 paragraph 43(a) since the District used the alternative measurement method the effects of assumptions are recognized immediately. As such, since the Plan holds no assets, their deferred inflows/outflows are zero. Change in assumptions: Discount rate decreased from 4.87% to 4.06%. 161 142 IMMOKALEE FIRE CONTROL DISTRICT Page 53 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE N- COMMITMENTS AND CONTINGENCIES In March 2024, the District entered into an agreement to lease a pumper to replace an aging pumper. Lease escrow payments are scheduled to begin March 1, 2026. Delivery of the pumper is expected 40 months after date of purchase and is contingent upon final inspections at time of delivery. Escrow is refundable if not accepted. NOTE O- 457(b) DEFERRED COMPENSATION PLANS The District offers the employees the opportunity to participate in two(2)457(b) deferred compensation plans. These Plans have a third party trustee/custodian that holds 100%of Plan assets. The Plans are 100%third party administered. The Plans accept only employee contributions. NOTE P - 401(a)RETIREMENT PLAN The Board of Fire Commissioners established the 401(a)Plan(the "Plan") for the Fire Chief. This retirement Plan is in addition to the benefits the Chief is entitled to from FRS/HIS. The Plan was effective on June 18, 2020. At September 30, 2024, the Plan has one (1) active participant and allows only the Chief to participate. The Plan permits employer contributions only. Amounts contributed by the employer are equal to $5,000 per fiscal year as required by the Chiefs employment contract. Employee contributions are prohibited. Employer contributions are 100% vested upon deposit into the Plan. Total District contributions to the Plan for the year ended September 30, 2024, were $5,000. NOTE Q. RETIREMENT HEALTH SAVINGS PLAN Effective November 2023, the District established an IRS Section 115 retirement health savings plan. Plan participation is available to both the bargaining unit and non bargaining employees. The Plan provides tax free benefits to pay health related insurance premiums, dental and vision coverage, prescriptions, long-term care insurance and out of pocket medical expense upon separation or retirement from the District. The District elects annually whether to fund the Plan which is based upon certain job categories and years of service. The bargaining unit employees contribute 1%to the Plan. Non bargaining unit employees elect annually a contribution amount. 161 IA2 IMMOKALEE FIRE CONTROL DISTRICT Page 54 of 70 NOTES TO THE FINANCIAL STATEMENTS September 30, 2024 NOTE Q- RETIREMENT HEALTH SAVINGS PLAN, CONTINUED Employees are 100% immediately vested in their account. Participants can apply for reimbursement of various insurance costs upon separation or retirement. During the year ended September 30, 2024, the District contributed$54,167 to the Plan. NOTE R- SUBSCRIPTION LIABILITY The District entered into multiple subscription-based information technology arrangements for various software. The software have 1 year terms and have fixed payments. The District aggregated the subscriptions for reporting purposes. The District used a discount rate of 4.45% (incremental borrowing rate)to record the present value of the future minimum payments as of the date of implementation. The District is capitalizing the arrangements over a 3-year term consistent with its fixed asset capitalization policy. The future minimum subscription payments as of September 30, 2024 is as follows: Years Ending September 30 Amount 2025 $ 67,585 67,585 Impact of present value discount (2,936) Present value $ 64,649 The amortization of the subscription liability for the year ended September 30, 2024,was $5,379. At September 30, 2024, the right of use-subscription asset and right of use- subscription liability balances are as follows: Amount Right of use subscription asset,current $ 64,649 Right of use subscription asset,noncurrent - $ 64,649 Right of use subscription liability,current $ 64,649 Right of use subscription liability,noncurrent - $ 64,649 161 1A2 REQUIRED SUPPLEMENTARY INFORMATION OTHER THAN MD&A 1 6 I 1 A a IMMOKALEE FIRE CONTROL DISTRICT Page 55 of 70 STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET AND ACTUAL-GENERAL FUND- SUMMARY STATEMENT Year Ended September 30,2024 General Fund Variance Original Final Favorable Budget Budget Actual (Unfavorable) REVENUES Ad Valorem taxes $ 7,254,923 $ 7,475,221 $ 7,475,221 $ - Intergovernmental revenues: Federal public safety grant-CDBG - 101,665 101,665 - State grants - - - _ Other grants - - - - State firefighter supplemental 2,500 2,500 3,490 990 Inspection fees _ - _ - Public safety services - - - - Miscellaneous: Interest 110,000 192,865 192,865 - Other 241,743 121,045 130,103 9,058 Reserves brought forward 2,700,795 2,738,046 - (2,738,046) TOTAL REVENUES 10,309,961 10,631,342 7,903,344 (2,727,998) EXPENDITURES Current Public safety Personnel services 5,486,349 6,171,119 6,168,367 2,752 Operating expenditures 1,240,693 1,358,823 1,371,804 (12,981) Capital outlay 75,000 495,325 495,184 141 Debt service Principal reduction 799,000 2,992,154 2,962,164 29,990 Interest and fiscal charges - 179,303 192,871 (13,568) Assigned-90 day reserve 1,400,000 1,400,000 - 1,400,000 Assigned-Prepaid expenses 775,000 280,796 - 280,796 Assigned-Fleet Reserves 75,000 26,500 - 26,500 Assigned-Emergency 458,919 180,746 - 180,746 Assigned-COVID Grant Replacement Vehicle 25,000 25,000 - 25,000 Assigned-Budgeted deficit - 361,103 - 361,103 Assigned-Replacement Station 30 - 102,798 - 102,798 TOTAL EXPENDITURES 10,334,961 13,573,667 11,190,390 2,383,277 EXCESS OF REVENUES OVER(UNDER)EXPENDITURES (25,000) (2,942,325) (3,287,046) (344,721) OTHER FINANCING SOURCES(USES) Proceeds from issuance of financing lease - 202,325 202,325 - Proceeds from issuance of construction loans - 2,700,000 2,700,000 - Proceeds from disposition of capital assets 25,000 40,000 40,000 - TOTAL OTHER FINANCING SOURCES(USES) 25,000 2,942,325 2,942,325 - NET CHANGE IN FUND BALANCE $ - $ - (344,721) $ (344,721) FUND BALANCE-Beginning 2,738,046 FUND BALANCE-Ending $ 2,393,325 The accompanying notes are an integral part of this statement. 1 6 I 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 56 of 70 STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE -BUDGET AND ACTUAL -GENERAL FUND DETAILED STATEMENT Year Ended September 30, 2024 General Fund Variance Original Final Favorable Budget Budget Actual (Unfavorable) REVENUES Ad Valorem taxes $ 7,254,923 $ 7,475,221 $ 7,475,221 $ - Intergovernmental revenues: Federal grants - 101,665 101,665 - State grants - - - - Other grants - - - - State firefighter supplemental 2,500 2,500 3,490 990 Inspection fees - - - - Public safety services - - - - Miscellaneous: Interest income 110,000 192,865 192,865 - PILT-Seminole 200,000 - - - PILT farm workers village 6,000 - - - Donations 9,743 9,643 9,646 3 User fees-rent 15,000 53,064 54,632 1,568 Other income 11,000 58,338 65,825 7,487 Subtotal 7,609,166 7,893,296 7,903,344 10,048 Reserves brought forward 2,700,795 2,738,046 - (2,738,046) TOTAL REVENUES 10,309,961 10,631,342 7,903,344 (2,727,998) EXPENDITURES PERSONNEL SERVICES Salaries Firefighters&administrative 2,815,311 2,918,506 2,918,506 - Overtime pay 368,539 626,674 631,336 (4,662) Holiday pay 75,958 75,958 79,862 (3,904) Vacation&sick sell back pay 20,000 89,500 89,078 422 Payroll taxes Social Security 251,431 278,839 278,839 - Benefits Retirement 918,610 1,107,118 1,107,119 (1) Group insurance 882,500 920,524 917,371 3,153 Health insurance-Commissioners 4,000 4,000 7,773 (3,773) Workers'compensation 150,000 150,000 138,483 11,517 Unemployment - - - - SUBTOTAL-PERSONNEL SERVICES 5,486,349 6,171,119 6,168,367 2,752 OPERATING Contracted Services Physicals 20,000 8,510 8,510 - Legal&professional fees 58,000 64,000 63,144 856 Property appraiser fees 45,000 45,000 44,750 250 Tax collection fees 145,289 145,289 150,981 (5,692) Contracted services 35,000 35,000 41,022 (6,022) Subtotal-Contracted services 303,289 297,799 308,407 (10,608) The accompanying notes are an integral part of this statement. 16 ! 1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 57 of 70 STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET AND ACTUAL -GENERAL FUND DETAILED STATEMENT-CONTINUED Year Ended September 30, 2024 General Fund Variance Original Final Favorable Budget Budget Actual (Unfavorable) OPERATING,CONTINUED Operating Education and training 30,000 41,011 41,011 - Travel 30,000 30,000 39,127 (9,127) Communications-telephone 60,000 60,000 33,463 26,537 Postage/shipping 1,000 1,000 894 106 Utilities 130,000 130,000 137,754 (7,754) Liability insurance 248,000 234,650 231,650 3,000 Subtotal-Operating 499,000 496,661 483,899 12,762 Maintenance Vehicle 75,000 93,500 93,260 240 Equipment-firefighter and rescue 25,000 25,000 33,285 (8,285) Generators - - 5,759 (5,759) Equipment lease 5,000 5,000 1,402 3,598 HVAC - - 16,122 (16,122) Building 65,000 132,000 110,263 21,737 Bunker gear 4,500 4,500 2,584 1,916 Cascade system - - 2,496 (2,496) Subtotal-Maintenance 174,500 260,000 265,171 (5,171) Legal advertising 4,000 4,000 2,056 1,944 Supplies Office 3,500 3,500 6,105 (2,605) Firefighter rescue/EMS 15,000 30,000 27,253 2,747 Station-janitorial - - 11,775 (11,775) PPE - 16,500 - 16,500 Station-non janitorial 20,000 15,000 8,060 6,940 Education&training 3,000 3,000 2,170 830 Fuel and oil 70,000 70,000 77,132 (7,132) Uniforms&PPE 25,000 25,000 28,845 (3,845) Hurricane expense - - - - Computer software and training 70,000 70,000 69,055 945 Miscellaneous 5,000 5,000 3,267 1,733 Communication 15,000 5,000 5,034 (34) Public education - 8,863 8,863 - Computer equipment 17,500 17,500 12,896 4,604 Minor equipment 9,904 25,000 46,031 (21,031) The accompanying notes are an integral part of this statement. 1 6 I 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 58 of 70 STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET AND ACTUAL-GENERAL FUND DETAILED STATEMENT-CONTINUED Year Ended September 30, 2024 General Fund Variance Original Final Favorable Budget Budget Actual (Unfavorable) Books and dues 6,000 6,000 5,785 215 Subtotal-Supplies 259,904 300,363 312,271 (11,908) SUBTOTAL-OPERATING EXPENDITURES 1,240,693 1,358,823 1,371,804 (12,981) Capital Outlay Land - - - - Firefighter equipment-grant match 5,000 - - - Training equipment - - - - Firefighter rescue equipment 30,000 - - - Bunker gear 10,000 - - - Building and CIP - 290,000 289,479 521 Covid Grant vehicle&equipment - - - - Vehicles - 202,325 202,325 - Communications equipment 10,000 3,000 3,380 (380) Computer equipment 20,000 - - - SUBTOTAL-CAPITAL OUTLAY 75,000 495,325 495,184 141 Debt service Principal retirement 799,000 2,992,154 2,962,164 29,990 Interest charges and fiscal - 179,303 192,871 (13,568) SUBTOTAL-DEBT SERVICE 799,000 3,171,457 3,155,035 I6,422 Assigned-First Q of Operation 1,400,000 1,400,000 - 1,400,000 Assigned-Building 775,000 280,796 - 280,796 Assigned-Vehicle 75,000 26,500 - 26,500 Assigned-Emergency 458,919 180,746 - 180,746 Assigned-COVID Grant Replacement Vehicle 25,000 25,000 - 25,000 Assigned-Budgeted deficit - 361,103 - 361,103 Assigned-Debt - 102,798 - 102,798 TOTAL EXPENDITURES 10,334,961 13,573,667 11,190,390 2,383,277 EXCESS OF REVENUES OVER(UNDER)EXPENDITURES (25,000) (2,942,325) (3,287,046) (344,721) OTHER FINANCING SOURCES(USES) Proceeds from issuance of financing lease - 202,325 202,325 - Proceeds from issuance of construction loans - 2,700,000 2,700,000 - Proceeds from disposition of capital assets 25,000 40,000 40,000 - TOTAL OTHER FINANCING SOURCES(USES) 25,000 2,942,325 2,942,325 - NET CHANGE IN FUND BALANCE $ - $ - (344,721) $ (344,721) FUND BALANCE-BEGINNING 2,738,046 FUND BALANCE-ENDING $ 2,393,325 The accompanying notes are an integral part of this statement. 1 6 I 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 59 of 70 STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE -BUDGET AND ACTUAL- IMPACT FEE FUND SUMMARY STATEMENT Year Ended September 30, 2024 Impact Fee Fund Variance Original Final Favorable Budget Budget Actual (Unfavorable) REVENUES Impact fees $ 2,000,000 $ 1,958,408 $ 1,993,284 $ 34,876 Miscellaneous: Interest 85,000 141,617 141,617 - Cash brought forward 3,302,680 3,306,228 - (3,306,228) TOTAL REVENUES 5,387,680 5,406,253 2,134,901 (3,271,352) EXPENDITURES Current Public safety Operating expenditures 25,000 20,000 19,544 456 Capital outlay 300,000 1,504,738 1,490,376 14,362 Debt service Principal reduction 1,057,382 450,382 441,080 9,302 Interest and fiscal charges 198,456 181,000 183,901 (2,901) Cash carried forward 3,806,842 3,250,133 - 3,250,133 TOTAL EXPENDITURES 5,387,680 5,406,253 2,134,901 3,271,352 EXCESS OF REVENUES OVER(UNDER)EXPENDITURES - - - - OTHER FINANCING SOURCES(USES) Proceeds from issuance of financing lease - - - Proceeds from construction loan - - - - TOTAL OTHER FINANCING SOURCES(USES) - - - - NET CHANGE IN FUND BALANCE $ - $ - - $ - FUND BALANCE-Beginning - FUND BALANCE-Ending $ - The accompanying notes are an integral part of this statement. � 6I1A2 IMMOKALEE FIRE CONTROL DISTRICT SCHEDULE OF DISTRICT PROPORTIONATE SHARE OF THE NET PENSION LIABILITY -FLORIDA RETIREMENT SYSTEM (FRS) PENSION PLAN (1) 2024 2023 2022 2021 District's proportion of the net pension liability 0.014187252% 0,011584793% 0.011418826% 0.010400522% District's proportionate share of the net pension liability $ 5,488,296 $ 4,616,173 $ 4,248,721 $ 785,641 District's covered-employee payroll $ 3,718,781 $ 2,699,060 $ 2,407,158 $ 2,290,487 District's proportionate share of the net pension liability as a percentage of its covered-employee payroll 147.58% 171.03% 176.50% 34.30% Plan fiduciary net position as a percentage of the total pension liability 83.78% 82.38% 82.89% 96.40% Notes: (I)The amounts presented for each fiscal year were determined as of September 30. SCHEDULE OF DISTRICT CONTRIBUTIONS - FLORIDA RETIREMENT SYSTEM (FRS) PENSION PLAN (1) 2024 2023 2022 2021 Contractually required contribution $ 1,035,992 $ 706,455 $ 601,974 $ 507,548 Contributions in relation to the contractually required contribution 1,035,992 706,455 601,974 507,548 Contribution deficiency(excess) $ - $ - $ - $ - District's covered-employee payroll $ 3,718,781 $ 2,699,060 $ 2,407,158 $ 2,290,487 Contributions as a percentage of covered-employee payroll 27.86% 26.17% 25.01% 22.16% Notes: (1)The amounts presented for each fiscal year were determined as of September 30. GASB 68 requires information for 10 years. However, until a full 10-year trend is compiled, governments should present information for only those years for which information is available. 161 IA? Page 60 of 70 2020 2019 2018 2017 2016 2015 0.01 1 823 008% 0.017687900% 0.012139622% 0.0 1 1 523968% 0.009463726% 0.006 1 83 105% $ 5,124,266 $ 4,053,007 $ 3,656,517 $ 3,408,712 $ 2,389,598 $ 798,631 $ 2,129,835 $ 2,092,719 $ 2,199,804 $ 2,117,620 $ 1,735,883 S 1,298,578 240.59% 193.67% 166.22% 160.97% 137.66% 61.50% 78.85% 82.61% 84.26% 83.89% 84.88% 92.00% 2020 2019 2018 2017 2016 2015 $ 480,781 $ 464,854 $ 454,867 $ 381,858 $ 365,318 $ 236,175 480,781 464,854 454,867 381,858 365,318 236,175 $ - $ - $ - $ - $ - $ - $ 2,129,835 $ 2,092,719 $ 2,199,804 $ 2,117,620 $ 1,735,883 $ 1,298,578 22.57% 22.21% 20.68% 18.03% 21.05% 18.19% i6l1A IMMOKALEE FIRE CONTROL DISTRICT SCHEDULE OF DISTRICT PROPORTIONATE SHARE OF THE NET PENSION LIABILITY -HEALTH INSURANCE SUBSIDY (HIS) PENSION PLAN (1) 2024 2023 2022 2021 District's proportion of the net pension liability 0.007619993% 0.006925378% 0.006653126% 0.006097996% District's proportionate share of the net pension liability $ 1,143,073 $ 1,099,842 $ 704,672 $ 748,011 District's covered-employee payroll $ 3,781,781 $ 2,699,060 $ 2,407,158 $ 2,290,487 District's proportionate share of the net pension liability as a percentage of its covered-employee payroll 30.23% 40.75% 29.27% 32.66% Plan fiduciary net position as a percentage of the total pension liability 4.80% 4.12% 4.81% 3.56% Notes: (I)The amounts presented for each fiscal year were determined as of September 30. SCHEDULE OF DISTRICT CONTRIBUTIONS - HEALTH INSURANCE SUBSIDY (HIS) PENSION PLAN (1) 2024 2023 2022 2021 Contractually required contribution $ 66,127 $ 45,093 $ 38,424 $ 32,397 Contributions in relation to the contractually required contribution 66,127 45,093 38,424 32,397 Contribution deficiency(excess) $ - $ - $ - $ - District's covered-employee payroll S 3,781,781 $ 2,699,060 $ 2,407,158 $ 2,290,487 Contributions as a percentage of covered-employee payroll 1.75% 1.67% 1.60% 1.41% Notes: (I)The amounts presented for each fiscal year were determined as of September 30. GASB 68 requires information for 10 years. However, until a full 10-year trend is compiled, governments should present information for only those years for which information is available. 161 IA2 Page 61 of 70 2020 2019 2018 2017 2016 2015 0.005936679% 0.006 1 5 784 5% 0.006303007% 0.005951814% 0.005168356% 0.004192421% $ 724,859 $ 689,001 $ 677,117 $ 636,395 $ 602,350 $ 427,561 $ 2,129,835 $ 2,092,719 $ 2,199,804 $ 2,117,620 $ 1,735,883 $ 1,298,578 34.03% 32.92% 30.78% 30.05% 34.70% 32.93% 3.00% 2.63% 2.15% 1.64% 0.97% 0.50% 2020 2019 2018 2017 2016 2015 $ 36,188 $ 34,989 $ 34,237 $ 28,742 $ 29,194 $ 19,237 36,188 34,989 34,237 28,742 29,194 19,237 $ - $ - $ - $ - $ - $ - $ 2,129,835 $ 2,092,719 $ 2,199,804 S 2,117,620 $ 1,735,883 $ 1,298,578 1.70% 1.67% 1.56% 1.36% 1.68% 1.48% t6I1A2 IMMOKALEE FIRE CONTROL DISTRICT Page 62 of 70 NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION September 30,2024 Changes of Assumptions Actuarial assumptions for both cost-sharing defined benefit plans are reviewed annually by the Florida Retirement System Actuarial Assumptions Conference. The FRS Pension Plan has a valuation performed annually. The HIS Program has a valuation performed biennially that is updated for GASB reporting in the year a valuation is not performed. The most recent experience study for the FRS Pension Plan is for the period July I, 2018, through June 30, 2023. Because the HIS Program is funded on a pay-as-you-go basis, no experience study has been completed for that program. The actuarial assumptions that determined the total pension liability for the HIS Program were based on certain results of the most recent experience study for the FRS Pension Plan. The total pension liability for each cost-sharing defined benefit plan was determined using the individual entry age actuarial cost method. Inflation increases for both plans is assumed at 2.40%. Payroll growth, including inflation, for both plans is assumed at 3.50%. Both the discount rate and the long-term expected rate of return used for FRS Pension Plan investments remained unchanged at 6.70%. The Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the discount rate for calculating the total pension liability is equal to the long-term expected rate of return. Because the HIS Program uses a pay-as-you-go funding structure, a municipal bond rate was increased from 3.65%to 3.93% and was used to determine the total pension liability for the program (Bond Buyer General Obligation 20-Bond Municipal Bond Index). Mortality assumptions for both plans were based on the Generational PUB-2010 with Projection Scale MP-2021. Florida Retirement System Pension Plan There were changes in actuarial assumptions. As of June 30, 2024, the inflation rate assumption remained at 2.4 percent,the real payroll growth assumption increased to 1.1 percent, and the overall payroll growth rate assumption increased to 3.50 percent. The long-term expected rate of return was unchanged at 6.70%. Health Insurance Subsidy Pension Plan The municipal rate used to determine total pension liability increased from 3.65 percent to 3.93 percent. 16I 1A ?_ IMMOKALEE FIRE CONTROL DISTRICT Page 63 of 70 NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION September 30,2024 Pension Expense and Deferred Outflows/Inflows of Resources In accordance with GASB 68, paragraphs 54 and 71, changes in the net pension liability are recognized in pension expense in the current measurement period, except as indicated below. For each of the following, a portion is recognized in pension expense in the current reporting period, and the balance is amortized as deferred outflows or deferred inflows of resources using a systematic and rational method over a closed period, as defined below: • Differences between expected and actual experience with regard to economic and demographic factors -amortized over the average expected remaining service life of all employees that are provided with pensions through the pension plan (active and inactive employees) • Changes of assumptions or other inputs - amortized over the average expected remaining service life of all employees that are provided with pensions through the pension plan (active and inactive employees) • Changes in proportion and differences between contributions and proportionate share of contributions- amortized over the average expected remaining service life of all employees that are provided with pensions through the pension plan (active and inactive employees) • Differences between expected and actual earnings on pension plan investments - amortized over five years Employer contributions to the pension plans from employers are not included in collective pension expense. However, employee contributions are used to reduce pension expense. The average expected remaining service life of all employees provided with pensions through the pension plans at September 30, 2024, remained at 5.3 years for FRS and remained constant at 6.3 years for HIS. 161 1A2 IMMOKALEE FIRE CONTROL DISTRICT SCHEDULE OF CHANGES IN THE NET OPEB LIABILITY AND RELATED RATIOS GASB 75 Changes in Employer's Net OPEB Liability and Related Ratios as of September 30: Net OPEB Liability 2024 _ 2023 2022 Service Cost $ 14,564 $ 15,066 $ 22,854 Interest Cost on Total OPEB Liability 13,633 14,580 9,904 Changes in Benefit Terms - - - Differences Between Expected and Actual Experience 21,138 (18,102) - Changes in Assumptions 43,308 (34,823) (125,584) Benefit Payments (2,526) (1,343) (1,249) Net Change in net OPEB Liability 90,117 (24,622) (94,075) Net OPEB Liability-Beginning of Year 266,641 291,263 385,338 Net OPEB Liability-End of Year $ 356,758 $ 266,641 $ 291,263 NOTE: Information for FY 2017 and earlier is not available. Plan Fiduciary Net Position as of September 30: 2024 2023 2022 Contributions-Employer $ 2,526 $ 1,343 $ 1,249 Net Investment Income - - - Benefit Payments (2,526) (1,343) (1,249) Administrative Expense - -Net Change in Fiduciary Net Position - - - Fiduciary Net Position-Beginning of Year - - - Fiduciary Net Position-End of Year $ - $ - $ - Net OPEB Liability $ 356,758 $ 266,641 $ 291,263 Fiduciary Net Position as a%of Net OPEB Liability 0.00% 0.00% 0.00% Covered-Employee Payroll * Net OPEB Liability as a%of Payroll * * Because this OPEB plan does not depend on salary,no information is provided. NOTE: Information for FY 2017 and earlier is not available. Notes to the Schedule: Benefit Changes None Changes of Assumptions The discount rate was changed as follows: 9/30/18 4.23% 9/30/19 2.21% 9/30/20 2.41% 9/30/21 2.43% 9/30/22 4.77% 9/30/23 4.87% 9/30/24 4.06% Updated healthcare costs and premiums Population covered by Plan: 44 active 0 retired Plan has no specific trust established.$0 assigned for OPEB. 1 6 I I A 2 Page 64 of 70 2021 2020 2019 2018 $ 30,006 S 29,274 $ 29,274 $ 31,359 13,675 12,282 16,639 13,731 42,653 (8,694) 85,904 116,389 (234,430) (14,191) (75,615) (100,573) (7,930) _ (7,559) (33,008) (25,607) (156,026) 11,112 23,194 35,299 541,364 530,252 507,058 471,759 $ 385,338 $ 541,364 $ 530,252 $ 507,058 2021 2020 2019 2018 $ 7,930 $ 7,559 S 33,008 $ 25,607 (7,930) (7,559) (33,008) (25,607) $ - $ - $ - $ - $ 385,338 $ 541,364 $ 530,252 $ 507,058 0.00% 0.00% 0.00% 0.00% 161 1A2 ADDITIONAL REPORTS 161 � A2 HSC/Tuscan & Company, PA CERTIFIED PUBLIC ACCOUNTANTS & CONSULTANTS Page 65 of 70 INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF BASIC FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS Board of Commissioners Immokalee Fire Control District 5368 Useppa Dr. Ave Maria, Florida 34142 We have audited, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States of America,the basic financial statements of the governmental activities and each major fund of Immokalee Fire Control District (the "District")as of and for the year ended September 30,2024, and the related notes to the financial statements which collectively comprise the District's basic financial statements as listed in the table of contents and have issued our report thereon dated February 3, 2025. Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the 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 opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District's internal control. Accordingly,we do not express an opinion on the effectiveness of the 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. INTEGRITY SERVICE EXPERIENCE 1470 Royal Palm Square Blvd.. Fort Myers,FL 33919-1049 Phone:(239)939-2233 •Fax:(239)939-0554•www.hsctuscan.com 1 6 I 1 A 2 Page 66 of 70 A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the Immokalee Fire Control District's basic 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 as defined previously. However, material weaknesses may exist that were not identified. Compliance and Other Matters As part of obtaining reasonable assurance about whether Immokalee Fire Control District's basic financial statements are free from 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 basic financial statements. 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 District'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 District's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Medaitt.iO4) /461444/"4A 41 HSC/TUSCAN & COMPANY, P.A. Fort Myers, Florida February 3, 2025 HSC/Tuscan 16i IA & Company, PA CERTIFIED PUBLIC ACCOUNTANTS &CONSULTANTS Page 67 of 70 INDEPENDENT ACCOUNTANT'S REPORT ON COMPLIANCE WITH SECTION 218.415, FLORIDA STATUTES Board of Commissioners Immokalee Fire Control District 5368 Useppa Dr. Ave Maria, Florida 34142 We have examined Immokalee Fire Control District's compliance with Section 218.415, Florida Statutes, regarding the investment of public funds during the year ended September 30,2024. Management is responsible for Immokalee Fire Control District's compliance with those requirements. Our responsibility is to express an opinion on Immokalee Fire Control 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 Immokalee Fire Control 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 Immokalee Fire Control District's compliance with specified requirements. In our opinion, Immokalee Fire Control District complied,in all material respects, with the aforementioned requirements for the year ended September 30,2024. This report is intended solely for the information and use of Immokalee Fire Control District and the Auditor General, State of Florida,and is not intended to be and should not be used by anyone other than these specified parties. jet / 1). it hk4/X44,1444) 464,0 HSC/TUSCAN & COMPANY, P.A. Fort Myers, Florida February 3, 2025 INTEGRITY SERVICE EXPERIENCE 1470 Royal Palm Square Blvd.• Fort Myers,FL 33919-1049 Phone:(239)939-2233•Fax:(239)939-0554•www.hsctuscan.com HSC/Tuscan 1 6 1 1A2 & Company, PA CERTIFIED PUBLIC ACCOUNTANTS &CONSULTANTS Page 68 of 70 INDEPENDENT AUDITOR'S REPORT TO MANAGEMENT Board of Commissioners Immokalee Fire Control District 5368 Useppa Dr. Ave Maria, Florida 34142 We have audited the accompanying basic financial statements of Immokalee Fire Control District (the "District") as of and for the year ended September 30, 2024, and have issued our report thereon dated February 3, 2025. We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States of America and Chapter 10.550, Rules of the Florida Auditor General. We have issued our Independent Auditor's Report on Internal Control over Financial Reporting and Compliance and Other Matters based on an audit of the financial statements performed in accordance with Government Auditing Standards and Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated February 3, 2025, should be considered in conjunction with this report to management. Additionally,our audit was conducted in accordance with Chapter 10.550,Rules of the Auditor General, which governs the conduct of local governmental entity audits performed in the State of Florida. This letter includes the following information, which is not included in the aforementioned auditor's reports: • Section 10.554(1)(i)1., Rules of the Auditor General,requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. There were no financially significant prior year comments. • Section 10.554(1)(i)2., Rules of the Auditor General, requires that we address in the management letter any recommendations to improve financial management. Such recommendations were noted to improve financial management. INTEGRITY SERVICE EXPERIENCE 1470 Royal Palm Square Blvd.•Fort Myers,FL 33919-1049 Phone:(239)939-2233 •Fax:(239)939-0554•www.hsctuscan.com 1A2 Page 69 of 70 • Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address noncompliance with provisions of contracts or grant agreements, or abuse, that have an effect on the financial statements that is less than material but more than inconsequential. In connection with our audit, we did not have any such findings. • Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in the management letter,unless disclosed in the notes to the financial statements. The District discloses this information in the notes to the financial statements. • Section 10.554(1)(i)5.a., Rules of the Auditor General, requires a statement be included as to whether or not the local government entity has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and identification of the specific condition(s)met. In connection with our audit,we determined that the District did not meet any of the conditions described in Section 218.503(1), Florida Statutes. • Pursuant to Sections 10.554(1)(i)5.b. and 10.556(7), Rules of the Auditor General,we have applied financial condition assessment procedures. It is management's responsibility to monitor the District's financial condition,and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same. In connection with our audit, we determined that the District did not meet any of the criteria of a deteriorating financial condition described in Auditor General Rule Section 10.554(1)(i)(5).a. • Pursuant to Section 10.554(1)(i)5b.2, Rules of the Auditor General, if a deteriorating financial condition(s) is noted then a statement is so required along with the conditions causing the auditor to make such a conclusion. No such conditions were noted. • Pursuant to Section 10.554(1)(i)5.c., Rules of the Auditor General, requires a statement indicating a failure, if any,of a component unit Special District to provide financial information necessary to a proper reporting of the component unit within the audited financial statements of this District(F.S. Section 218.39(3)(b)). There are no known component special districts required to report within these financial statements. Pursuant to Section 10.554(1)(i)7, Rules of the Auditor General,requires disclosure of certain unaudited data. See Exhibit 2. • Pursuant to Section 10.554(1)(i)8, Rules of the Auditor General, requires an independent special district that imposes ad valorem taxes to disclose certain related unaudited data. See Exhibit 2. 161 1 A 2 Page 70 of 70 • Section 10.554(1)9, Rules of the Auditor General, requires an independent special district that imposes a non-ad valorem special assessment to disclose certain unaudited data. See Exhibit 2. • Section 10.556(10)(a), Rules of the Auditor General, requires that the scope of our audit to determine the District's compliance with the provisions of Section 218.415, Florida Statutes, regarding the investment of public funds. In connection with our audit, we determined that the District complied with Section 218.415, Florida Statutes as reported in our Independent Accountant's Report on Compliance with Section 218.415, Florida Statutes dated February 3, 2025, included herein. PRIOR YEAR COMMENTS: There were no financially significant prior year comments. CURRENT YEAR COMMENTS: There were no financially significant current year comments noted. Pursuant to Chapter 119, Florida Statutes,this management letter is a public record and its distribution is not limited. Auditing standards generally accepted in the United States of America require us to indicate that this letter is intended solely for the information and use of the Board of Commissioners, management, the Auditor General of the State of Florida and other federal and state agencies. This report is not intended to be and should not be used by anyone other than these specified parties. P, A , //6 /74-kiviao 4witeal HSC/TUSCAN & COMPANY, P.A. Fort Myers, Florida February 3, 2025 161 1A2 EXHIBIT 1 0 44. R 1 61 1N2 F Immokalee Fire Control District E " 14 F. 5368 Useppa Drive, Ave Maria, FL. 34142 Ave Maria Michael J. Choate, Fire Chief March 5, 2025 Auditor General's Office Local Government Audits/342 Claude Pepper Building, Room 401 111 West Madison Street Tallahassee, FL 32399-1450 In connection with the audit for the fiscal year ended 9-30-24, we are pleased to report there are no current or prior year comments. The District continues to refine and enhance financial reporting and compliance functions, and internal controls, policies and procedures. The Board of Fire Commissioners and management staff are committed to avoiding future possible comments and we maintain our assurance that future audits will reflect the actions we have taken. Sincerely, IMMOKALEE FIRE CONTROL DISTRICT Headquarters(239)657-2111 Fire Prevention(239)597-9227 Fax(239)657-9489 1611A2 EXHIBIT 2 1 6 I 1 A 2 EXHIBIT 2 Page 1 UNAUDITED COMPLIANCE WITH REPORTING REQUIRED BY: Auditor General Rule 10.554(1)(i)6 For a dependent special district or an independent special district, or a local government entity that includes the information of a dependent special district as provided in Section 218.39(3)(a), Florida Statutes, the following specific information provided by management(with explanatory verbiage that the auditor provides no assurance on the information): a. The total number of district employees compensated in the last pay period of the district's fiscal year being reported(see information required in Section 218.32(1)(e)2.a., Florida Statutes). 51 (including 5 commissioners) b. The total number of independent contractors to whom nonemployee compensation was paid in the last month of the district's fiscal year being reported(see information required in Section 218.32(1)(e)2.b., Florida Statutes). 6 c. All compensation earned by or awarded to employees, whether paid or accrued, regardless of contingency (see information required in Section 218.32(1)(e)2.c., Florida Statutes). (Total wage compensation for the fiscal year being audited) $3,718,782 d. All compensation earned by or awarded to nonemployee independent contractors, whether paid or accrued,regardless of contingency(see information required in Section 218.32(1)(e)2.d., Florida Statutes). (Amounts paid that would be reported on a Form 1099 for FYE) $116,609 e. Each construction project with a total cost of at least $65,000 approved by the district that was scheduled to begin on or after October 1 of the fiscal year being reported, together with the total expenditures for such project(see information required in Section 218.32(1)(e)2.e., Florida Statutes). None f. A budget variance report based on the budget adopted under section 189.016(4), Florida Statutes, before the beginning of the fiscal year reported if the district amends a final adopted budget under Section 189.016(6), Florida Statutes(see information required in Section 218.32(1)(e)3., Florida Statutes). If there were amendments then include budget variance (original budget vs. actual at FYE). See attached pages 3 -4. 161 1A2 Page 2 Auditor General Rule 10.554(1)(i)7 For an independent special district that imposes ad valorem taxes, the following specific information provided by management(with explanatory verbiage that the auditor provides no assurance on the information): (see information required in Section 218.32(1)(e)4., Florida Statutes). a. The millage rate or rates imposed by the district. 3.75 mills b. The current year gross amount of ad valorem taxes collected by or on behalf of the district. $7,475,221 c. The total amount of outstanding bonds issued by the district and terms of such bonds. $0 Auditor General Rule 10.554(1)(i)8 For an independent special district that imposes non-ad valorem special assessments, the following specific information provided by management(with explanatory verbiage that the auditor provides no assurance on the information): (see information required in Section 218.32(1)(e)5., Florida Statutes). a. The rate or rated of such assessment imposed by the district. N/A b. The total amount of special assessments collected by or on behalf of the district. N/A c. The total amount of outstanding bonds issued by the district and the terms of such bonds. N/A 1 6 I 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 3 ORIGINAL BUDGET vs. ACTUAL COMPARISON REPORT- UNAUDITED- GENERAL FUND Year Ended September 30, 2024 General Fund Variance Original Favorable Budget Actual (Unfavorable) REVENUES Ad Valorem taxes $ 7,254,923 $ 7,475,221 $ 220,298 Intergovernmental revenues: Federal public safety grant-CDBG - 101,665 101,665 State grants - - - Other grants - - - State firefighter supplemental 2,500 3,490 990 Inspection fees - - - Public safety services - - - Miscellaneous: Interest 110,000 192,865 82,865 Other 241,743 130,103 (111,640) Reserves brought forward 2,700,795 - (2,700,795) TOTAL REVENUES 10,309,961 7,903,344 (2,406,617) EXPENDITURES Current Public safety Personnel services 5,486,349 6,168,367 (682,018) Operating expenditures 1,240,693 1,371,804 (131,111) Capital outlay 75,000 495,184 (420,184) Debt service Principal reduction 799,000 2,962,164 (2,163,164) Interest and fiscal charges - 192,871 (192,871) Assigned-90 day reserve 1,400,000 - 1,400,000 Assigned-Prepapid expenses 775,000 - 775,000 Assigned-Vehicle 75,000 - 75,000 Assigned-Emergency 458,919 - 458,919 Assigned-COVID Grant Replacement Vehicle 25,000 - 25,000 Assigned-Budgeted deficit - - - Assigned-Replacement Station 30 - - - TOTAL EXPENDITURES 10,334,961 11,190,390 (855,429) EXCESS OF REVENUES OVER(UNDER)EXPENDITURES (25,000) (3,287,046) (3,262,046) OTHER FINANCING SOURCES(USES) Proceeds from issuance of financing lease - 202,325 202,325 Proceeds from issuance of construction loan - 2,700,000 2,700,000 Proceeds from disposition of capital assets 25,000 40,000 15,000 TOTAL OTHER FINANCING SOURCES(USES) 25,000 2,942,325 2,917,325 NET CHANGE IN FUND BALANCE $ - (344,721) $ (344,721) FUND BALANCE-Beginning 2,738,046 FUND BALANCE-Ending $ 2,393,325 The accompanying notes are an integral part of this statement. I61 1 A 2 IMMOKALEE FIRE CONTROL DISTRICT Page 4 ORIGINAL BUDGET vs.ACTUAL COMPARISON REPORT- UNAUDITED -IMPACT FEE FUND Year Ended September 30, 2024 Impact Fee Fund Variance Original Favorable Budget Actual (Unfavorable) REVENUES Impact fees $ 2,000,000 $ 1,993,284 $ (6,716) Miscellaneous: Interest 85,000 141,617 56,617 Cash brought forward 3,302,680 - (3,302,680) TOTAL REVENUES 5,387,680 2,134,901 (3,252,779) EXPENDITURES Current Public safety Operating expenditures 25,000 19,544 5,456 Capital outlay 300,000 1,490,376 (1,190,376) Debt service Principal reduction 1,057,382 441,080 616,302 Interest and fiscal charges 198,456 183,901 14,555 Cash carried forward 3,806,842 - 3,806,842 TOTAL EXPENDITURES 5,387,680 2,134,901 3,252,779 EXCESS OF REVENUES OVER(UNDER)EXPENDITURES - - OTHER FINANCING SOURCES(USES) Proceeds from issuance of financing lease - - Proceeds from issuance of construction loan - - - TOTAL OTHER FINANCING SOURCES(USES) -NET CHANGE IN FUND BALANCE $ - - $ - FUND BALANCE-Beginning - FUND BALANCE-Ending $ - The accompanying notes are an integral part of this statement.