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: ________________________