Capital Region 
Community Development District 
Unaudited Financial Statements 
August 31, 2020 
Meeting Date 
October 8, 2020 


CAPITAL REGION 
COMMUNITY DEVELOPMENT DISTRICT 
BALANCE SHEET 
August 31, 2020 
Total 
Debt Non-Major Governmental 
General Service Fund Funds 
ASSETS: 
CASH $242,115 --- --- $242,115 
Capital Reserve --- --- $48,902 $48,902 
INVESTMENT - STATE BOARD $740,731 --- --- $740,731 
INVESTMENTS: 
Series 2011A1 
Reserve A1 --- $185,694 --- $185,694 
Revenue A1 --- $94,554 --- $94,554 
Series 2013 
Reserve --- $430,794 --- $430,794 
Revenue --- $351,159 --- $351,159 
Series 2018A1 
Reserve --- $651,808 --- $651,808 
Revenue --- $71,672 --- $71,672 
Due From General --- $162,902 --- $162,902 
Series 2018A2 
Reserve --- $136,528 --- $136,528 
Revenue --- $56,979 --- $56,979 
TOTAL ASSETS $982,846 $2,142,088 $48,902 $3,173,836 
LIABILITIES: 
ACCOUNTS PAYABLE $19,157 --- --- $19,157 
DUE TO DS - SRS 2018A1 $162,902 --- --- $162,902 
DUE TO OTHER $37,523 --- --- $37,523 
DEFERRED REVENUE $31,597 --- --- $31,597 
FUND BALANCES: 
UNASSIGNED FOR GENERAL FUND $731,669 --- --- $731,669 
ASSIGNED FOR CAPITAL PROJECTS --- --- $48,902 $48,902 
RESTRICTED FOR DEBT SERVICE --- $2,142,088 --- $2,142,088 
LIABILITIES & FUND EQUITY 
& OTHER CREDITS $982,846 $2,142,088 $48,902 $3,173,836 


CAPITAL REGION 
COMMUNITY DEVELOPMENT DISTRICT 
GENERAL FUND 
Statement of Revenues, Expenditures and Changes in Fund Balances 
For the Period Ended August 31, 2020 
ADOPTED PRORATED BUDGET ACTUAL 
DESCRIPTION BUDGET THRU 08/31/20 THRU 08/31/20 VARIANCE 
REVENUES: 
Special Assessment-On Roll $1,181,280 $1,181,280 $1,187,386 $6,106 
Special Assessment-Direct - St Joe $379,158 $347,562 $347,562 $0 
Interest Income/Miscellaneous $2,500 $2,292 $7,293 $5,001 
TOTAL REVENUES $1,562,938 $1,531,133 $1,542,240 $11,107 
EXPENDITURES: 
ADMINISTRATIVE: 
Supervisors Fees $6,000 $5,500 $6,600 ($1,100) 
FICA Expense $459 $421 $505 ($84) 
Engineering $30,000 $27,500 $18,929 $8,571 
Arbitrage $3,750 $1,200 $1,200 $0 
Dissemination $7,300 $6,692 $6,692 $0 
Attorney $57,000 $52,250 $37,891 $14,359 
Annual Audit $4,000 $4,000 $4,250 ($250) 
Annual Report $500 $500 $0 $500 
Trustee Fees $14,000 $14,000 $15,516 ($1,516) 
Assessment Roll Services $11,500 $11,500 $11,500 $0 
Management Fees $48,620 $44,569 $44,568 $0 
Information Technology $2,800 $2,567 $2,567 $0 
Records Storage $150 $138 $0 $138 
Travel & Per Diem $1,750 $1,604 $733 $871 
Telephone $300 $275 $294 ($19) 
Postage $1,500 $1,375 $923 $452 
Printing & Binding $2,000 $1,833 $1,361 $472 
Insurance $16,627 $16,627 $16,738 ($111) 
Legal Advertising $3,500 $3,208 $2,555 $653 
Other Current Charges $1,600 $1,467 $1,588 ($122) 
Office Supplies $200 $183 $104 $80 
Dues, Licenses, Subscriptions $3,175 $3,175 $175 $3,000 
Capital Outlay $250 $229 $0 $229 
TOTAL ADIMINISTRATIVE $216,980 $200,811 $174,689 $26,122 
FIELD: 
Management Fees $126,000 $115,500 $115,500 $0 
Security $10,000 $9,167 $5,515 $3,652 
Communications $10,000 $9,167 $5,000 $4,167 
Utilities $45,000 $41,250 $59,464 ($18,214) 
Landscape Maintenance - Contract $879,249 $805,978 $805,978 $0 
Landscape Maintenance - New Units/Street Trees $7,500 $6,875 $2,184 $4,691 
Pond Maintenance - Contract $5,000 $4,583 $1,730 $2,853 
Pond Repairs - Current Units $30,000 $27,500 $33,894 ($6,394) 
Pond Repairs - New Units $1,500 $1,375 $0 $1,375 


CAPITAL REGION 
COMMUNITY DEVELOPMENT DISTRICT 
GENERAL FUND 
Statement of Revenues, Expenditures and Changes in Fund Balances 
For the Period Ended August 31, 2020 
ADOPTED PRORATED BUDGET ACTUAL 
DESCRIPTION BUDGET THRU 08/31/20 THRU 08/31/20 VARIANCE 
EXPENDITURES: 
FIELD: (continued) 
SWMF Operating Permit Fees $5,508 $5,049 $4,156 $893 
Irrigation Maintenance - Contract $49,604 $45,471 $45,471 $0 
Irrigation Maintenance - New Units $500 $458 $262 $197 
Irrigation Repairs - Current Units $40,000 $36,667 $43,481 ($6,814) 
Irrigation Systems Upgrades $1,250 $1,146 $700 $446 
Preserve Maintenance $40,000 $36,667 $38,996 ($2,329) 
Tot Lot Inspection/Maintenance $5,000 $4,583 $3,737 $846 
Tree Removal/Trimming/Cleanup $35,000 $32,083 $28,437 $3,647 
Alleyway Maintenance $5,000 $4,583 $4,092 $491 
Miscellaneous Maintenance $7,500 $6,875 $8,169 ($1,294) 
Special Events $5,000 $4,583 ($350) $4,933 
Other-Contingency $5,000 $4,583 $2,896 $1,688 
Capital Expenditures $25,000 $22,917 $0 $22,917 
Reserve for Capital - R&R $94,209 $86,358 $0 $86,358 
Common Area Maintenance $8,000 $7,333 $4,068 $3,265 
TOTAL FIELD $1,440,820 $1,320,751 $1,213,378 $107,373 
TOTAL EXPENDITURES $1,657,800 $1,521,563 $1,388,068 $133,495 
EXCESS (DEFICIT) OF REVENUES 
OVER EXPENDITURES ($94,862) $9,570 $154,172 $144,602 
NET CHANGE IN FUND BALANCE ($94,862) $9,570 $154,172 $144,602 
FUND BALANCE - Beginning $94,863 $577,497 
FUND BALANCE - Ending $1 $731,669 


CAPITAL REGION CDD 
GENERAL FUND 
FY 2020 
ADOPTED Year to 
Description BUDGET October November December January February March April May June July August September Date 
REVENUES: 
Special Assessment-On Roll $1,181,280 $0 $149,478 $925,674 $40,852 $16,720 $18,592 $14,617 $4,358 $17,095 $0 $0 $0 $1,187,386 
Special Assessment-Direct - St Joe $379,158 $31,597 $31,597 $31,597 $31,597 $31,597 $31,597 $31,597 $31,597 $31,597 $31,597 $31,597 $0 $347,562 
Interest Income/Miscellaneous $2,500 $828 $593 $380 $362 $1,246 $1,366 $889 $658 $414 $309 $247 $0 $7,293 
Carry Forward Surplus $94,863 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 
TOTAL REVENUES $1,657,801 $32,425 $181,668 $957,650 $72,810 $49,563 $51,555 $47,103 $36,612 $49,105 $31,906 $31,844 $0 $1,542,240 
EXPENDITURES: 
Administrative: 
Supervisors Fees $6,000 $800 $0 $1,000 $0 $1,000 $0 $0 $1,000 $1,000 $800 $1,000 $0 $6,600 
FICA Expense $459 $61 $0 $77 $0 $77 $0 $0 $77 $77 $61 $77 $0 $505 
Engineering $30,000 $1,313 $407 $2,525 $2,418 $1,708 $2,875 $3,305 ($2,000) $453 $2,263 $3,663 $0 $18,929 
Arbitrage $3,750 $600 $0 $0 $0 $0 $0 $0 $0 $0 $600 $0 $0 $1,200 
Dissemination $7,300 $608 $608 $608 $608 $608 $608 $608 $608 $608 $608 $608 $0 $6,692 
Attorney $57,000 $2,435 $147 $6,024 $1,935 $4,696 $3,331 $6,496 $1,705 $3,236 $4,158 $3,729 $0 $37,891 
Annual Audit $4,000 $0 $0 $4,000 $250 $0 $0 $0 $0 $0 $0 $0 $0 $4,250 
Annual Report $500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 
Trustee Fees $14,000 $4,337 $0 $4,148 $0 $0 $7,031 $0 $0 $0 $0 $0 $0 $15,516 
Assessment Roll Services $11,500 $11,500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $11,500 
Management Fees $48,620 $4,052 $4,052 $4,052 $4,052 $4,052 $4,052 $4,052 $4,052 $4,052 $4,052 $4,052 $0 $44,568 
Information Technology $2,800 $233 $233 $233 $233 $233 $233 $233 $233 $233 $233 $233 $0 $2,567 
Records Storage $150 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 
Travel & Per Diem $1,750 $238 $142 $172 $181 $0 $0 $0 $0 $0 $0 $0 $0 $733 
Telephone $300 $42 $20 $0 $21 $65 $48 $0 $0 $0 $61 $36 $0 $294 
Postage $1,500 $132 $9 $75 $18 $107 $71 $77 $0 $101 $171 $163 $0 $923 
Printing & Binding $2,000 $78 $178 $17 $299 $48 $239 $4 $126 $26 $234 $114 $0 $1,361 
Insurance $16,627 $16,738 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $16,738 
Legal Advertising $3,500 $96 $360 $97 $99 $428 $0 $247 $110 $363 $621 $134 $0 $2,555 
Other Current Charges $1,600 $188 $197 $154 $2 $0 $466 $117 $87 $135 $124 $118 $0 $1,588 
Office Supplies $200 $6 $15 $0 $15 $0 $15 $0 $15 $6 $15 $15 $0 $104 
Dues, Licenses, Subscriptions $3,175 $175 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $175 
Capital Outlay $250 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 
Total Administrative $216,980 $43,632 $6,370 $23,182 $10,130 $13,021 $18,969 $15,139 $6,012 $10,291 $14,002 $13,941 $0 $174,689 


CAPITAL REGION CDD 
GENERAL FUND 
FY 2020 
ADOPTED Year to 
Description BUDGET October November December January February March April May June July August September Date 
Maintenance: 
Management Fees $126,000 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $0 $115,500 
Security $10,000 $5,738 $105 $0 $0 $0 $0 $0 $0 $0 -$328 $0 $0 $5,515 
Communications $10,000 $500 $500 $0 $500 $500 $500 $500 $500 $500 $500 $500 $0 $5,000 
Utilities $45,000 $6,293 $2,494 $2,658 $2,167 $1,820 $3,603 $7,450 $9,897 $6,245 $8,421 $8,417 $0 $59,464 
Landscape Maintenance - Contract $879,249 $73,271 $73,271 $73,271 $73,271 $73,271 $73,271 $73,271 $73,271 $73,271 $73,271 $73,271 $0 $805,978 
Landscape Maintenance - New Units/Street Trees $7,500 $5 $5 $5 $71 $5 $5 $5 $5 $5 $5 $2,068 $0 $2,184 
Pond Maintenance - Contract $5,000 $0 $0 $865 $0 $0 $0 $865 $0 $0 $0 $0 $0 $1,730 
Pond Repairs - Current Units $30,000 $5,043 $6,275 $74 $0 $2,775 $6,984 $976 $1,113 $10,656 $0 $0 $0 $33,894 
Pond Repairs - New Units $1,500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 
SWMF Operating Permit Fees $5,508 $25 $0 $0 $0 $0 $0 $918 $0 $3,213 $0 $0 $0 $4,156 
Irrigation Maintenance - Contract $49,604 $4,134 $4,134 $4,134 $4,134 $4,134 $4,134 $4,134 $4,134 $4,134 $4,134 $4,134 $0 $45,471 
Irrigation Maintenance - New Units $500 $0 $0 $3 $3 $3 $3 $3 $3 $3 $3 $238 $0 $262 
Irrigation Repairs - Current Units $40,000 $1,498 $1,426 $990 $7,349 $2,482 $4,499 $6,749 $8,668 $3,908 $1,386 $4,526 $0 $43,481 
Irrigation Systems Upgrades $1,250 $0 $0 $0 $0 $0 $0 $0 $0 $700 $0 $0 $0 $700 
Preserve Maintenance $40,000 $7,842 $735 $3,452 $5,611 $0 $14,299 $4,508 $666 $1,467 $375 $42 $0 $38,996 
Tot Lot Inspection/Maintenance $5,000 $0 $0 $0 $0 $0 $1,856 $480 $415 $300 $0 $686 $0 $3,737 
Tree Removal/Trimming/Cleanup $35,000 $0 $1,500 $0 $3,330 $1,220 $0 $2,400 $1,203 $7,718 $821 $10,244 $0 $28,437 
Alleyway Maintenance $5,000 $600 $0 $0 $0 $0 $0 $0 $1,450 $1,442 $600 $0 $0 $4,092 
Miscellaneous Maintenance $7,500 $2,000 $1,738 $953 $42 $513 $0 $469 $63 $2,307 $0 $84 $0 $8,169 
Special Events $5,000 -$350 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 -$350 
Other-Contingency $5,000 $0 $0 $545 $0 $163 $30 $1,079 $0 $832 $248 $0 $0 $2,896 
Capital Expenditures $25,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 
Reserve for Capital - R&R $94,209 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 
Common Area Maintenance $8,000 $1,159 $391 $0 $872 $0 $0 $0 $0 $0 $0 $1,648 $0 $4,068 
Total Maintenance $1,440,820 $118,257 $103,072 $97,448 $107,848 $97,385 $119,682 $114,306 $111,888 $127,200 $99,935 $116,356 $0 $1,213,378 
Total Recreatin Facility $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 
Total Expenditures $1,657,800 $161,889 $109,442 $120,631 $117,979 $110,406 $138,651 $129,444 $117,900 $137,491 $113,937 $130,297 $0 $1,388,068 
Interfund Tranfer In/(Out) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 
Excess Revenues (Expenditures) $1 ($129,465) $72,226 $837,019 ($45,168) ($60,843) ($87,096) ($82,342) ($81,288) ($88,387) ($82,031) ($98,454) $0 $154,172 


CAPITAL REGION 
COMMUNITY DEVELOPMENT DISTRICT 
CAPITAL RESERVE 
Statement of Revenues, Expenditures and Changes in Fund Balances 
For the Period Ended August 31, 2020 
ADOPTED PRORATED BUDGET ACTUAL 
DESCRIPTION BUDGET THRU 08/31/20 THRU 08/31/20 VARIANCE 
REVENUES: 
Capital Reserve Contribution $119,209 $0 $0 $0 
TOTAL REVENUES $119,209 $0 $0 $0 
EXPENDITURES: 
Reserve for Capital - R&R $0 $0 $23,628 ($23,628) 
Other Charges $600 $550 $468 $82 
TOTAL EXPENDITURES $600 $550 $24,096 ($23,546) 
EXCESS (DEFICIT) OF REVENUES 
OVER EXPENDITURES $118,609 (550.00) (24,096.24) (23,546.24) 
FUND BALANCE - Beginning $102,095 $72,998 
FUND BALANCE - Ending $220,704 $48,902 


CAPITAL REGION 
COMMUNITY DEVELOPMENT DISTRICT 
DEBT SERVICE FUND - SERIES 2011A1 & A2 
Statement of Revenues, Expenditures and Changes in Fund Balances 
For the Period Ended August 31, 2020 
11 
ADOPTED PRORATED BUDGET ACTUAL 
DESCRIPTION BUDGET THRU 08/31/20 THRU 08/31/20 VARIANCE 
REVENUES: 
Special Assessments - Residential $379,445 $379,445 $381,362 $1,917 
Interest Income $1,000 $917 $3,217 $2,301 
TOTAL REVENUES $380,445 $380,361 $384,579 $4,218 
EXPENDITURES: 
SERIES 2011-A1 
Interest - 11/1 - 2011A1 $85,659 $85,659 $85,659 $0 
Interest - 5/1 - 2011A1 $85,659 $85,659 $85,659 $0 
Principal - 5/1 - 2011A1 $200,000 $200,000 $200,000 $0 
Special Call - 5/1 2011A1 $0 $0 $15,000 ($15,000) 
TOTAL EXPENDITURES $371,318 $371,318 $386,318 ($15,000) 
EXCESS (DEFICIT) OF REVENUES 
OVER EXPENDITURES $9,127 $9,043 ($1,739) ($10,782) 
FUND BALANCE - Beginning $96,300 $281,986 
FUND BALANCE - Ending $105,427 $280,247 



CAPITAL REGION 
COMMUNITY DEVELOPMENT DISTRICT 
DEBT SERVICE FUND - SERIES 2013A 
Statement of Revenues, Expenditures and Changes in Fund Balances 
For the Period Ended August 31, 2020 
11 
ADOPTED PRORATED BUDGET ACTUAL 
DESCRIPTION BUDGET THRU 08/31/20 THRU 08/31/20 VARIANCE 
REVENUES: 
Special Assessments - Residential $381,326 $381,326 $383,480 $2,154 
Special Assessments - Commercial $480,848 $480,848 $482,802 $1,954 
Interest Income $2,500 $2,292 $8,607 $6,315 
TOTAL REVENUES $864,674 $864,465 $874,889 $10,423 
EXPENDITURES: 
Interest- 11/1 $215,209 $215,209 $215,209 $0 
Interest - 5/1 $215,209 $215,209 $215,209 $0 
Principal - 5/1 $440,000 $440,000 $440,000 $0 
Special Call - 5/1 $0 $0 $5,000 ($5,000) 
TOTAL EXPENDITURES $870,418 $870,418 $875,418 ($5,000) 
EXCESS (DEFICIT) OF REVENUES 
OVER EXPENDITURES ($5,744) ($5,952) ($529) $5,423 
FUND BALANCE - Beginning $347,730 $782,482 
FUND BALANCE - Ending $341,986 $781,953 



CAPITAL REGION 
COMMUNITY DEVELOPMENT DISTRICT 
DEBT SERVICE FUND - SERIES 2018A1 
Statement of Revenues, Expenditures and Changes in Fund Balances 
For the Period Ended August 31, 2020 
11 
PROPOSED PRORATED BUDGET ACTUAL 
DESCRIPTION BUDGET THRU 08/31/20 THRU 08/31/20 VARIANCE 
REVENUES: 
Special Assessments - Residential $142,918 $142,918 $143,725 $808 
Special Assessments - Commercial $77,165 $77,165 $77,486 $321 
Special Assessments - Direct $1,086,011 $923,109 $923,109 $0 
Interest Income $2,500 $2,292 $5,912 $3,621 
TOTAL REVENUES $1,308,594 $1,145,483 $1,150,233 $4,749 
EXPENDITURES: 
Interest - 11/1 $401,650 $401,650 $401,650 $0 
Special Call - 11/1 $0 $0 $5,000 ($5,000) 
Interest - 5/1 $401,650 $401,650 $401,547 $103 
Principal - 5/1 $510,000 $510,000 $510,000 $0 
Special Call - 5/1 $0 $0 $15,000 ($15,000) 
TOTAL EXPENDITURES $1,313,300 $1,313,300 $1,333,197 ($19,897) 
EXCESS (DEFICIT) OF REVENUES 
OVER EXPENDITURES ($4,706) ($167,817) ($182,964) ($15,148) 
NET CHANGE IN FUND BALANCE ($4,706) ($167,817) ($182,964) ($15,148) 
FUND BALANCE - Beginning $463,753 $1,069,346 
FUND BALANCE - Ending $459,047 $886,382 



CAPITAL REGION 
COMMUNITY DEVELOPMENT DISTRICT 
DEBT SERVICE FUND - SERIES 2018A2 
Statement of Revenues, Expenditures and Changes in Fund Balances 
For the Period Ended August 31, 2020 
11 
PROPOSED PRORATED BUDGET ACTUAL 
DESCRIPTION BUDGET THRU 08/31/20 THRU 08/31/20 VARIANCE 
REVENUES: 
Special Assessments - Residential $273,055 $273,055 $275,786 $2,731 
Interest Income $2,500 $2,292 $1,812 ($479) 
TOTAL REVENUES $275,555 $275,347 $277,598 $2,252 
EXPENDITURES: 
Interest - 11/1 $55,096 $55,096 $55,096 $0 
Interest - 5/1 $55,096 $55,096 $55,096 $0 
Principal - 5/1 $165,000 $165,000 $165,000 $0 
Special Call - 5/1 $0 $0 $5,000 ($5,000) 
TOTAL EXPENDITURES $275,192 $275,192 $280,191 ($5,000) 
EXCESS (DEFICIT) OF REVENUES 
OVER EXPENDITURES $363 $155 ($2,593) ($2,748) 
NET CHANGE IN FUND BALANCE $363 $155 ($2,593) ($2,748) 
FUND BALANCE - Beginning $58,522 $196,099 
FUND BALANCE - Ending $58,885 $193,506 



CAPITAL REGION CDD 
ASSESSMENT RECEIPTS FISCAL YEAR 2020 

ASSESSED TO # UNITS 
SERIES 2008 / 
2018-1 
RESIDENTIAL 
SERIES 2008 / 
2018-1 
COMMERCIAL 
SERIES 2011A-1 
RESIDENTIAL 
SERIES 2011A-2 
/ 2018-2 
COMMERCIAL 
SERIES 2013 
RESIDENTIAL 
SERIES 2013 
COMMERCIAL 
TOTAL DEBT 
SERVICE 
FISCAL YEAR 
2020 O&M TOTAL ASSESSED 
ST JOE COMPANY 1,692.00 - 1,086,010.90 - - - - 1,086,010.90 3 79,158.05 1,465,168.95 

LEON CO. TAX ROLL 2,991.58 142,917.85 7 7,165.00 379,444.65 274,147.35 3 81,324.91 4 80,803.85 1,735,803.62 1,181,279.95 2,917,083.56 

TOTAL NET ASSESSED 4,683.58 142,917.85 1,163,175.90 379,444.65 274,147.35 3 81,324.91 4 80,803.85 2,821,814.52 1,560,438.00 4,382,252.51 
RECEIVED BY 
SERIES 2008 / 
2018-1 
RESIDENTIAL 
SERIES 2008 / 
2018-1 
COMMERCIAL 
SERIES 2011A-1 
RESIDENTIAL 
SERIES 2011A-2 
/ 2018-2 
COMMERCIAL 
SERIES 2013 
RESIDENTIAL 
SERIES 2013 
COMMERCIAL 
TOTAL DEBT 
SERVICE 
FISCAL YEAR 
2020 O&M 
TOTAL COLLECTED 
NET 
ST JOE COMPANY - 1,086,010.90 - - - - 1,086,010.90 3 79,158.05 1,465,168.95 
TOTAL DUE DIRECT INVOICE - - - - - - - - - 

LEON CO DIST 1 11/13/2019 474.38 - 689.96 - 1,265.71 - 2,430.05 1,619.94 4 ,049.99 
LEON CO DIST 2 11/25/2019 7,981.79 2 0,652.41 30,195.94 - 21,296.53 1 28,682.16 2 08,808.83 1 47,858.42 356,667.25 
LEON CO DIST 3 12/11/2019 4 7,047.29 2 1,498.03 134,182.37 165,092.01 1 25,528.78 1 33,951.11 6 27,299.59 4 21,511.61 1,048,811.20 
LEON CO DIST 4 12/20/2019 6 9,863.04 2 9,446.49 177,752.97 9 3,978.95 1 86,404.40 1 83,476.78 7 40,922.63 5 04,161.91 1,245,084.54 
LEON CO DIST 5 1/15/2020 8,102.75 2,532.88 10,268.47 - 21,619.28 15,781.99 58,305.37 39,745.77 98,051.14 
LEON CO DIST 6 1/30/2020 132.45 73.56 350.40 257.09 353.40 458.37 1,625.27 1,106.39 2 ,731.66 
LEON CO DIST 7 2/19/2020 3,214.71 - 11,060.07 1,901.90 8,577.29 - 24,753.97 16,720.17 41,474.14 
LEON CO DIST 8 3/16/2020 1,316.47 2,566.28 2,980.85 - 3,512.53 15,990.09 26,366.22 18,592.26 44,958.48 
LEON CO DIST 9 4/9/2020 2,779.61 - 8,232.38 3,441.26 7,416.39 - 21,869.64 14,616.91 36,486.55 
LEON CO DIST 10 5/21/2020 628.19 178.74 2,708.78 - 1,676.09 1,113.68 6,305.48 4,357.67 10,663.15 
INTEREST 6/3/2020 - - - - - - - 137.00 137.00 
LEON CO DIST 11 6/9/2020 413.94 537.31 1,753.03 - 1,104.44 3,347.88 7,156.60 5,028.49 12,185.09 
TAX CERTIFICATES 6/16/2020 1,770.80 - 1,186.50 1 1,114.89 4,724.75 - 18,796.94 11,929.15 30,726.09 
- - - - - - - - - 
TOTAL RECEIVED TAX ROLL 143,725.42 7 7,485.70 381,361.72 275,786.10 3 83,479.59 4 82,802.06 1,744,640.59 1,187,385.69 2,932,026.28 

TOTAL DUE TAX ROLL 

(807.57) (320.70) (1,917.07) (1,638.75) (2,154.68) (1,998.21) (8,836.98) (6,105.74) (14,942.72) 

PERCENT RECEIVED 
% RECEIVED DIRECT INVOICE 
% RECEIVED TAX ROLL 

SERIES 2008 / 
2018-1 
RESIDENTIAL 
SERIES 2008 / 
2018-1 
COMMERCIAL 
SERIES 2011A-1 
RESIDENTIAL 
SERIES 2011A-2 
/ 2018-2 
COMMERCIAL 
SERIES 2013 
RESIDENTIAL 
SERIES 2013 
COMMERCIAL 
TOTAL DEBT 
SERVICE 
FISCAL YEAR 
2019 O&M TOTAL 
0.00% 100.00% 0.00% 0.00% 0.00% 0.00% 100.00% 100.00% 100.00% 
100.57% 100.42% 100.51% 100.60% 100.57% 100.42% 100.51% 100.52% 100.51% 


Corbin deNagy 

3250 Carollton Drive · Tallahassee, FL 32311 · (904) 710-0083 · codenagy@hotmail.com 

 

Experience 

 

Finance Director 06/2018 – Present 

Florida State University, College of Human Sciences 

Serve as a member of the Dean’s management team. Provide strategic financial planning and analysis for the College. 
Develop and implement policies and procedures for sound and effective management. Responsible for the overall 
management and monitoring of the financial position of the College. Develop long-term financial forecasts for the 
College’s budgets. Responsible for the tuition waiver process including managing the tuition waiver allocation. 
Supervise the pre- and post-award process. Coordinate and manage the recruitment, hiring, training, and evaluations of 
UBA staff in the College. 

 

Budget Analyst 12/2011 – 06/2018 

Florida State University, Budget Office 

Managed the campus budgeting application. Enhanced the application design and related reports as needed. Facilitated 
operating budget training of campus users. Assisted with the development of the University's operating budget 
submission. Monitored general ledger and budgetary activity to ensure the accuracy and integrity of the data. 
Researched special general ledger and budgetary issues. Supported campus users with budgetary issues. Produced 
training materials and job aids. Conducted general training sessions. 

 

Senior Management Analyst I 05/2011 – 12/2011 

Florida Department of Education, Bureau of Budget Management 

Monitored all financial activities for the Commissioner of Education’s Office and the Career and Adult Education 
Office. Monitored and reconciled monthly department rate and dollar projections. Provided weekly reports on the 
Department of Education’s vacant positions. 

 

Financial Specialist 07/2009 – 05/2011 

Florida State University, College of Social Work 

Promoted to Financial Specialist in July 2009. Supervised four employees. Managed all financial and human resource 
functions. Responsible for post-award grant administration including reporting and compliance. 

 

Accounting Associate 07/2008 – 07/2009 

Florida State University, College of Social Work 

Processed travel authorizations and expense reports while maintaining the allotted faculty travel budgets. Reconciled 
and reported on the College’s accounts. Audited time and leave and ensured correct payroll processing for all faculty. 

 

Education 

 

Master of Public Administration 2012 

Askew School of Public Administration and Policy at Florida State University 

 

Bachelor of Science in Finance 2008 

Florida State University 

 

Volunteer 

 

SouthWood Covenants Committee 2017 – Present 

 

Citizen Review Team (CRT) for the Community Human Services Partnership (CHSP) 2015 – Present 

 

The Sharing Tree Board of Directors 2015 – 2016 


 

 

 

 

 

 

 

 

July 13, 2020 

 

 

 

Capital Region Community Development District 

Governmental Management Services, LLC 

475 W Town Place, Suite 114 

St. Augustine, FL 32092 

 

 

The Objective and Scope of the Audit of the Financial Statements 

 

You have requested that we audit the financial statements of Capital Region Community 
Development District (the “District”), which comprise governmental activities and each major fund 
for the General Fund as of and for the year ended September 30, 2020, 2021, 2022, 2023, and 
2024 which collectively comprise the basic financial statements. We are pleased to confirm our 
acceptance and our understanding of this audit engagement by means of this letter for the year 
ending September 30, 2020, with four (4) annual renewals for the years ending September 30, 
2021, 2022, 2023, and 2024 if mutually agreed upon by both parties. 

 

Our audit will be conducted with the objective of our expressing an opinion on the financial 
statements. 

 

The Responsibilities of the Auditor 

 

We will conduct the audit in accordance with auditing standards generally accepted in the United 
States of America and "Government Auditing Standards" issued by the Comptroller General of 
the United States. Those standards require that we plan and perform the audit to obtain 
reasonable assurance about whether the financial statements are free of material misstatement. 
An audit involves performing procedures to obtain audit evidence about the amounts and 
disclosures in the financial statements. The procedures selected depend on the auditor’s 
judgment, including the assessment of the risks of material misstatement of the financial 
statements, whether due to fraud or error. An audit also includes evaluating the appropriateness 
of accounting policies used and the reasonableness of significant accounting estimates made by 
management, as well as evaluating the overall presentation of the financial statements. 

 

 

 

 


Because of the inherent limitations of an audit, together with the inherent limitations of internal 
control, an unavoidable risk that some material misstatements may not be detected exists, even 
though the audit is properly planned and performed in accordance with generally accepted 
auditing standards. Also, an audit is not designed to detect errors or fraud that are immaterial to 
the financial statements. 

 

In making our risk assessments, we consider internal control relevant to Capital Region 
Community Development District’s preparation and fair presentation of the financial statements 
in order to design audit procedures that are appropriate in the circumstances but not for the 
purpose of expressing an opinion on the effectiveness of the entity’s internal control. However, 
we will communicate to you in writing concerning any significant deficiencies or material 
weaknesses in internal control relevant to the audit of the financial statements that we have 
identified during the audit. 

 

We will also communicate to the Board any fraud involving senior management and fraud that 
causes a material misstatement of the financial statements that becomes known to us during the 
audit, and any instances of noncompliance with laws and regulations that we become aware of 
during the audit. 

 

The funds that you have told us are maintained by Capital Region Community Development 
District and that are to be included as part of our audit are listed below: 

 

1. General Fund 
2. Debt Service Fund 
3. Capital Reserve Fund 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


The Responsibilities of Management and Identification of the Applicable Financial 
Reporting Framework 

 

Our audit will be conducted on the basis that management acknowledges and understands that 
it has responsibility: 

 

1. For the preparation and fair presentation of the financial statements in accordance 
with accounting principles generally accepted in the United States of America; 
2. To evaluate subsequent events through the date the financial statements are 
issued or available to be issued, and to disclose the date through which 
subsequent events were evaluated in the financial statements. Management also 
agrees that it will not evaluate subsequent events earlier than the date of the 
management representation letter referred to below; 
3. For 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; and 
4. To provide us with: 
a. Access to all information of which management is aware that is relevant to the 
preparation and fair presentation of the financial statements such as records, 
documentation and other matters; 
b. Additional information that we may request from management for the purpose 
of the audit; and 
c. Unrestricted access to persons within the entity from whom we determine it 
necessary to obtain audit evidence. 


 

As part of our audit process, we will request from management written confirmation concerning 
representations made to us in connection with the audit including among other items: 

 

1. That management has fulfilled its responsibilities as set out in the terms of this 
letter; and; 
2. That it believes the effects of any uncorrected misstatements aggregated by us 
during the current engagement and pertaining to the latest period presented are 
immaterial, both individually and in the aggregate, to the financial statements taken 
as a whole. 


 

 

 

 

 

 


Management is responsible for identifying and ensuring that Capital Region Community 
Development District complies with the laws and regulations applicable to its activities, and for 
informing us about all known material violations of such laws or regulations. In addition, 
management is responsible for the design and implementation of programs and controls to 
prevent and detect fraud, and for informing us about all known or suspected fraud affecting the 
entity involving management, employees who have significant roles in internal control, and others 
where the fraud could have a material effect on the financial statements. Management is also 
responsible for informing us of its knowledge of any allegations of fraud or suspected fraud 
affecting the entity received in communications from employees, former employees, analysts, 
regulators, or others. Management is also responsible for providing planned corrective actions on 
auditors’ recommendations included in the audit report, if any. 

 

The Board is responsible for informing us of its views about the risks of fraud within the entity, 
and its knowledge of any fraud or suspected fraud affecting the entity. 

 

Records and Assistance 

 

If circumstances arise relating to the condition of the Capital Region Community Development 
District’s records, the availability of appropriate audit evidence, or indications of a significant risk 
of material misstatement of the financial statements because of error, fraudulent financial 
reporting, or misappropriation of assets, which in our professional judgment, prevent us from 
completing the audit or forming an opinion, we retain the unilateral right to take any course of 
action permitted by professional standards, including declining to express an opinion, issuing a 
report, or withdrawing from the engagement. 

 

During the course of our engagement, we may accumulate records containing data that should 
be reflected in the Capital Region Community Development District books and records. The 
District will determine that all such data, if necessary, will be so reflected. 

 

The assistance to be supplied, including the preparation of schedules and analyses of accounts, 
has been discussed and coordinated with James Oliver. The timely and accurate completion of 
this work is an essential condition to our completion of the audit and issuance of our audit report. 
The audit should be completed and filed with the Auditor General within nine (9) months after the 
end of the fiscal year. If the information is timely provided, the District shall receive a draft by May 
15, 2021, and if the draft is timely reviewed by management, the District shall receive the final 
audit by June 15, 2021. 

 

Other Relevant Information 

 

In accordance with Government Auditing Standards, a copy of our most recent peer review report 
has been provided to you, for your information. 

 


Information Security – Miscellaneous Terms 

 

Berger, Toombs, Elam, Gaines & Frank is committed to the safe and confidential treatment of 
Capital Region Community Development District’s proprietary information. Berger, Toombs, 
Elam, Gaines & Frank is required to maintain the confidential treatment of client information in 
accordance with relevant industry professional standards which govern the provision of services 
described herein. Capital Region Community Development District agrees that it will not provide 
Berger, Toombs, Elam, Gaines & Frank with any unencrypted electronic confidential or proprietary 
information, and the parties agree to utilize commercially reasonable measures to maintain the 
confidentiality of Capital Region Community Development District’s information, including the use 
of collaborate sites to ensure the safe transfer of data between the parties. 

 

If any term or provision of this arrangement letter is determined to be invalid or unenforceable, 
such term or provision will be deemed stricken and all other terms and provisions will remain in 
full force and effect. 

 

Reporting 

 

We will issue a written report upon completion of our audit of Capital Region Community 
Development District’s financial statements. Our report will be addressed to the Board of Capital 
Region Community Development District. We cannot provide assurance that an unmodified 
opinion will be expressed. Circumstances may arise in which it is necessary for us to modify our 
opinion, add an emphasis-of-matter or other-matter paragraph(s), or withdraw from the 
engagement. 

 

In addition to our report on Capital Region Community Development District’s financial 
statements, we will also issue the following types of reports: 

 

• Reports on internal control and compliance with laws, regulations, and the provisions of 
contracts or grant agreements. We will report on any internal control findings and/or 
noncompliance which could have a material effect on the financial statements; 
• Management letter required by the Auditor General, State of Florida; and 
• Attestation reports required by the Auditor General, State of Florida. 


 

This letter and any addendums hereto constitute the complete and exclusive statement of 
agreement between Berger, Toombs, Elam, Gaines, & Frank and Capital Region Community 
Development District, superseding all proposals, oral or written, and all other communications, 
with respect to the terms of the engagement between the parties. 

 

 

 

 

 


Please sign and return the attached copy of this letter to indicate your acknowledgment of, and 
agreement with, the arrangements for our audit of the financial statements including our 
respective responsibilities. 

Sincerely, 

BERGER, TOOMBS, ELAM, GAINES & FRANK 

J. W. Gaines, CPA 

Confirmed on behalf of the addressee: 

_______________________________________ 

___________________________ ___, _______ 


ADDENDUM TO ENGAGEMENT LETTER BETWEEN BERGER, TOOMBS, 
ELAM, GAINES AND FRANK AND CAPITAL REGION COMMUNITY 
DEVELOPMENT DISTRICT 

(DATED JULY 13, 2020) 

Public Records. Auditor shall, pursuant to and in accordance with Section 
119.0701, Florida Statutes, comply with the public records laws of the State of Florida, 
and specifically shall: 

a. Keep and maintain public records required by the District to perform the 
services or work set forth in this Agreement; and 

b. Upon the request of the District’s custodian of public records, provide the 
District with a copy of the requested records or allow the records to be 
inspected or copied within a reasonable time at a cost that does not exceed 
the cost provided in Chapter 119, Florida Statutes, or as otherwise provided 
by law; and 

c. Ensure that public records that are exempt or confidential and exempt from 
public records disclosure requirements are not disclosed except as 
authorized by law for the duration of the contract term and following 
completion of the Agreement if the Auditor does not transfer the records to 
the District; and 

d. Upon completion of the Agreement, transfer, at no cost to the District, all 
public records in possession of the Auditor or keep and maintain public 
records required by the District to perform the service or work provided for 
in this Agreement. If the Auditor transfers all public records to the District 
upon completion of the Agreement, the Auditor shall destroy any duplicate 
public records that are exempt or confidential and exempt from public 
disclosure requirements. If the Auditor keeps and maintains public records 
upon completion of the Agreement, the Auditor shall meet all applicable 
requirements for retaining public records. All records stored electronically 
must be provided to the District, upon request from the District’s custodian 
of public records, in a format that is compatible with the information 
technology systems of the District. 

Auditor acknowledges that any requests to inspect or copy public records relating 
to this Agreement must be made directly to the District pursuant to Section 119.0701(3), 
Florida Statutes. If notified by the District of a public records request for records not in 
the possession of the District but in possession of the Auditor, the Auditor shall provide 
such records to the District or allow the records to be inspected or copied within a 
reasonable time. Auditor acknowledges that should Auditor fail to provide the public 
records to the District within a reasonable time, Auditor may be subject to penalties 
pursuant to Section 119.10, Florida Statutes. 


 

IF THE AUDITOR HAS QUESTIONS REGARDING THE 
APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO 
THE AUDITOR’S DUTY TO PROVIDE PUBLIC RECORDS 
RELATING TO THIS AGREEMENT/CONTRACT, THE 
AUDITOR MAY CONTACT THE CUSTODIAN OF PUBLIC 
RECORDS FOR THE DISTRICT AT: 

 

GMS-NF, LLC 

475 WEST TOWN PLACE, SUITE 114 

ST. AUGUSTINE, FL 32092 

TELEPHONE: 904-940-5850 

EMAIL: JOLIVER@GMSNF.COM 

 

 

Auditor: J.W. Gaines District: Capital Region CDD 

 

By: _________________________ By: ________________________ 

 

Title: Director Title: ________________________ 

 

Date: July 13, 2020 Date: ________________________