Cordoba Ranch Community Development District
Board of Supervisors

Kelly Evans Chairperson
F. Peter Willams, Vice Chairperson Parker Hirons, Assistant Secretary Charlie Peterson, Assistant Secretary Lori Campagna, Assistant Secretary

Meeting Agenda
May 28, 2019 - 9:30 a.m.

Andrew P.Mendenhall, District Manager Tracy Robin, District Counsel Tonja Stewart, District Engineer

Call to Order/Roll Call
Approval of the Consent Agenda
April 23, 2019 Meeting Minutes
Financial Statements
Fiscal Year 2018 Audit
Number of Registered Voters (255)
Aquagenix Report - May
Staff Reports
District Counsel
District Engineer
District Manager
Consideration of Resolution 2019-3 Approving the Fiscal Year 2020 Proposed Budget and Setting the Public Hearing
Audience Comments
Supervisor  Requests
Adjournment

The next meeting is scheduled for Tuesday, June 25, 2019 at 9:30 a.m.

District Office:
210 N. University Drive, Suite 702 Coral Springs, FL 33071
954-603-0033

Meeting Location: Cordoba Ranch Model Center 2516 Cordoba Ranch Blvd.
Lutz, FL 33559

681224

Notice of Public Meeting Dates
Cordoba Ranch Community Development District

'fampa Bay Times

1 he Boa�d of supNvisors or thri co1doba Rancl1 Community Devclopnwnt District

Published Daily

as follows:

Rtmch ModPI crnter locatecl at 2516 Cordoba Hanch Blvcl Lutz. FL 33559 at 9:30 a.m.

¼ill ho!d their regular rnonthlv meetings for Fiscal Year 2018/2019 at the CordobJ

STAn: (ff l·LORII).\	' s,

Octolwr 23, 2016

COl '\fY OF llilbhornugh Count)

Novcrnl)er 27, 20W (Regular and Landowner)

lkfore ilw under,:igned aulhoril) personal!: appeared Ueinlrc

June 25, 20!9
July 23, 2019

May 28, 2019

March 26, 2019

April 23, 20J9

Februai-y 26, ZOi9

January 2.?, 2019

December 18. 2018 (thirc! Tuesday)

.\l111eilla ,d1P on oath sa>, that h,·.shc is Legal Clerk of the Tampa Bay Times a dail> newspaper printed in "L l'etcr,bmg. in Pincll:1'

There may be occt1sions wlwn one nr rnorr Sup(1rv1sors \I.Ill µanicipate by tPlept10ne.

September 24, 2019

August 17, 2019 (Buclget rublie He<1nng)

( ·ou11t3, I h.1rida: tlw! the attudH:d u 11•: Ill' rn.h crti};\'.menL being u i.L·gal N,,tiec in the niallcr RF: 2018/2019 \'lcdiugs 11a, published

recurcl at lhe nwetiwi wilh1i11l <,ddition<ll publira.tion of Potict.

nieoting may bQ continu4:ld to a date-. Umr-. ;;_nd place <1.pprni,,1c,d by th.i 80ard on tht'­

per·son cc1n attenc: tt�e mN•tll'lfJ at thr abov0 location anc: hr fully informed of ttlc

discussions tdking place either in person or by telephone coninwnic�tion. Any

At the above !ocat!on will be present a spc�kcr telephone so ttwt any intrrested

,n  lampa Bil)  Times: ')/20/18.  in ,aid nn1spapn in the issues (Ii Haylink l iilishornugh
0\!fo111t runhcr says the· ,aid Tan1p:1 Bil) Times is a 11c11,papcr puh­

Ei'lCh p.:':son vvho decides to appeal nny decision omde by the Board with rcsrH'ct to

(TTY}/ t�R00�955-87 /0 {Voice). for a1cl in tontact lno thf.1    District Manag(:t•'s Of fief'.

at least fortv·elght (48) hours prior hJ the rneetl!HJ. Ii you tltt' t11::arir19 or spcect1

impaired, please contuct the Florida Helay Service by di,1ling 7·1·1. or 1·800-955·$771

Any person requirit1q sp�clal accomrnoc!ations at the,1..' nieeUn9::, IJec<lusi· of a

dbability or physic.1! irnpa!rmcnt should cont.:.ict th� District f\1anager's Office

li-..lh.:d in J !il!:...horuu12-h ( ·�)\Jilt_:. I !orida und thnt l!tL.' :)aid O�\\·{ntp�;r· ha� lwrel!lli,re hem rn11ti11u11u,I:- pul,lishcd in ,s1id I lilhh,,ruugh C 11unt1,

'-Hl'i F11dtter cun�id(•r�d at the meeting is .:idvised thzi1t oerson may net�d to ensure that

I h)rida. ca\.'.h da;  and hth b;,:i.'.n 1..'llkrcd a ; a :.,,;ccond cla�:-- mai! matkr at

a verbatim record of ttw procN:dings is. made, lnr:lud;ng th1: test1tnony and evidencC> upon whict1 such app1:,al is to bP based

tire p,1o1 ollin: in "lid I lillsbornu;?.li Count.,. Flornla i,,r a period of one

681224

September 20, 2018

District M1rn<1ger

Andrew P. M(!t1dcntHII, Viv1P

),·ar 11c,1 preceding the lirsl pt1hlie,1tio11 u/'the ,lltachnl cop) oi'sicher· li:-.en1cnl. and a!lianl iurthcr :.;a�:-, that hr....:,'sli1..  twithcr paid w,[ promi,ed
:ill>  person. firm or corp1.)ratiun an>· discount, n.:btlle. commi'.'i�ion or rcf1md l,ir the purp1hc pf ,ecurin� lhi, ad1 crti"mcnt i<ll puh!ica1io11 in

S"i"i,!rrn"t"u"rr"'o"f '\"ffi"a"n'tl,V(�}

l(I .. Cl{�ff."

\110r11 lo and ,ubscrihcd kforc ,nc this O'l:]0;20 I 8.

Signaturt' or '\otar� P(}1if
'-~"·

�VMffllli
Not111y l'ul}l!t • State of � My Comm. E�p!rn! Oct 11, rt01ll Commiulo11 It ff 1137l'i95
�I� Nlltlw �ary A$$!!,

Cordoba Ranch Community Development District
Financial Report April 30, 2019

Prepared by:

INFRAMARK

  INFRASTRUCTURE  MANAGEMENT SERVICES

Community Development District	

Table of Contents

FINANCIAL STATEMENTS

Balance Sheet - All Funds

Page#

Statement of Revenues, Expenditures and Changes in Fund Balance

General Fund Debt Service Fund

SUPPORTING SCHEDULES

Non-Ad Valorem Special Assessments - Schedule Cash and Investment Report
Payment Register

2-3
              4

5-6

7

8

Cordoba Ranch Community Development District

Financial Statements
(Unaudited)

April 30, 2019

Community Development District

Governmental Funds

Balance Sheet
April 30, 2019 

ACCOUNT DESCRIPTION ASSETS

GENERAL FUND

SERIES 2006 DEBT SERVICE FUND

TOTAL

Cash - Checking Account Due From Other Funds
Investments:

Prepayment Account	6,937	6,937	

			

		

		

			

			

Money Market Accou nt

Reserve Fund Revenue Fund
Prepaid Items Deposits
lrnTAL ASSETS

LIABILITIES
Accounts Payable Accrued Expenses Due To Other Funds

$	1 64,542

509,659

1 ,483
11 ,540
$	687,224

$	4,902
850
49,662

$	$	164,542
49,662	49,662

509,659

234,267	234,267
532, 702	532,702
1 ,483
11, 540
$	823,568	$ 1 ,510,792 I

$	$	4,902
850
49,662

hoTAL LIABILITIES

FUND BALANCES
Nonspendable:
Prepaid Items Deposits
Restricted for:

 	55,414	

1 ,483
11 ,540

55,414 1

1 ,483
11 ,540

Debt Service
Assigned to:
Operating Reserves Reserves - Capital Projects
Unassigned:

44,040
1 70, 127
404,620

823,568	823,568

44,040
170, 127
404,620

IToTAL FUND BALANCES	$	631,810	$	823,568	$ 1 ,455,378 1
!TOTAL LIABILITIES & FUND BALANCES	$	687,224	$	823,568	$  1,510,792 I

Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending April 30, 2019 

ANNUAL	YTD ACTUAL
ADOPTED	YEAR TO DATE	YEAR TO DATE	VARIANCE ($)	AS A% OF

 	ACCOUNT DESCRIPTION	 	BUDGET	 	BUDGET	ACTUAL	FAV(UNFAV)	ADOPTED BUD 

REVENUES

Interest - Investments Interest - Tax Collector
Special Assmnts- Tax Collector Special Assmnts- CDD Collected
Special Assmnts- Discounts Gate Bar Code/Remotes
IToTAL REVENUES
EXPENDITURES
Administration
P/R-Board of Supervisors ProfServ Arbitrage Rebate
ProfServ-Dissemination Agent ProfServ- Engineering ProfServ-Legal Services
ProfServ-Mgmt Consulting Serv
ProfServ-Trustee Fees Auditing Services

$	$	$	3,821	$	3,821

181	181
357,623	351 ,929	352,921	992
1 35,125	132,973	1 35,125	2,1 52
(1 4,305)	(14 ,077)	(1 3,469)	608

360	360
478,443	470,825	478,939	8,1 14 

2,400	1 ,400	600	800

500
5,000	5,000	5,000
7,500	4,375	3,250	1,125
7,000	4,083	1 ,495	2,588

46,500	27,125	27,125 
3,500	3,500	2,424	1 ,076

335

3,500

0.00%
0.00%
98.69%
1 00.00%
94.16%
0.00%
100.1 0%1

25.00%
0.00%
100.00%
43.33%
21 .36%
58.33%
69.26%
0.00%

Postage and Freight

1, 000	583

248

33.50%

Public Officials Insurance
Printing and Binding Legal Advertising
Misc Assessmnt Collection Cost Misc-Web Hosting

2,239	2,239	2,239
600	350	347	3
3,500	2,042	988	1, 054
7,1 52	4,1 72	6,789	(2,617)

900	525	525

0.00%
57.83%
28.23%
94.92%
58.33%

Annual District Filing Fee
Total Administration
Other Public Safety

 	175	175	175	100.00%
 	91 ,466	55,569	49,053	6,516	53.63%

Contracts-Security  Camera
Contracts-Security Services

2, 500	1 ,458	1,458

959

13,608	7,938	8,028	(90)

58.32%
58.99%

Communication - Telephone

1 ,644

417	542

25.36%

R&M-Gatehouse
Total Other Public Safety
Electric Utility Services

 	600	350	350	0.00%

 	18 ,352 	10,705	9,903	802	53.96%

Utility - General

7,800	4,550	4,784	(234)

61 .33%

Electricity - Slreetlighting
Total Electric Utility Services

 	63,528	37,058	36,612	446	57.63%
 	71,328	41 ,608	41 ,396	212	58.04%

Flood Control/Stormwater Mgmt

Contracts-Aquatic Control

12,408

7,238

7,478

(240)

60.27%

2

Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending April 30, 2019 

ANNUAL

BUDGET	FAV(UNFAV)

ADOPTED	YEAR TO DATE	YEAR TO DATE	VARIANCE ($)
ACCOUNT DESCRIPTION	BUDGET	ACTUAL

R&M-Fountain	1 ,000	583	583
R&M-Mitigation	11 ,460	6,685	5,950
R&M Lake & Pond Bank	6,675	3,894	2,528	1 , 366

YTD ACTUAL AS A% OF ADOPTED BUD

0.00%
51 .92%
37.87%

lmpr - Aquatic Plants	 	5,000	2,917	2,91 7 	0.00%
Total Flood Control/Stormwater Mgmt	 	36,543	21 ,317	15,956	5,361	43.66%

Field

Contracts-Landscape	11 4,994	67,080	67,080
Insurance - Property	1 ,735	1 ,735	1 ,735
Insurance - General Liability	2,490	2,490	                     2,490
R&M-Entry Feature	200	200	200
R&M-lrrigation	9,000	5,250	4,950	300
R&M-Mulch	23 ,100	13,475	14,700	( 1 ,225)
R&M-Pest Control	3,200	1 ,867	2,649	(782)

R&M-Plant Replacement	15 ,000	8,750	8,750

9,345

R&M-Well Maintenance	5,000	2,917	2,91 7

58.33%
0.00%
0.00%
0.00%
55.00%
63.64%
82.78%
0.00%
0.00%

R&M-Annuals	19 ,000	11 ,083
Holiday Lighting & Decorations	2,500	2,500	2,500

1 ,738

49.18%
100.00%

Op Supplies - Fertilizer	 	7,800	4,550	1 ,761	2,789	22.58%
Total Field	 	204,01 9	121 ,897	1 02,985	18,912	50.48%

Parks and Recreation - General
ProfServ-Wildlife Management Service	16 ,800	9,800	10,170	(370)	60.54%
Misc-Contingency	 	14 ,995	8,747	3,681	5,066	24.55%
Total Parks and Recreation - General	 	31 ,795	18 ,547	13,851	4,696	43.56%

Reserves
Capital Reserve
Total Reserves

 	24,940	24,940	24,940	0.00%
 	24,940	24,940	24,940	0.00%

ITOTAL EXPENDITURES & RESERVES

478,443

294,583

233,144

61 ,439

48.73%1

Over (under) expenditures
OTHER FINANCING SOURCES (USES}
lnterfund Transfer - In
!TOTAL FINANCING SOURCES (USES)
Net change in fund balance

Excess (deficiency) of revenues

 	176,242	245,795	69,553	0.00%

120,129
120,129
   $	$	176,242	$	365,924 $

1 20,129
1 20,129
1 89,682

0.00%
0.00%1
0.00%

FUND BALANCE, BEGINNING (OCT 1, 2018)	265,886	265,886	265,886

FUND BALANCE, ENDING

$

265,886	$

442,128	$

631 ,810

3

Community Development District	Series 2006 Debt Service Fund

Statement of Revenues, Expenditures and Changes in Fund Balances

AS A% 0F

For the Period Ending April 30, 2019 

 	ACCOUNT DESCRIPTION	

ANNUAL ADOPTED

YEAR TO DATE

YEAR TO DATE	VARIANCE ($)	YTD ACTUAL

    BUDGET	BUDGET	ACTUAL	FAV(UNFAV)	ADOPTED BUD 
REVENUES

Interest - Investments	$	350	$	204	$	806	$	602	230.29%
Special Assmnts- Tax Collector	455,697	448,441	449.707	1 ,266	98.69%
Special Assmnts- CDD Collected	172,1 82	1 69,440	172,182	2,742	100.00%
Special Assmnts- Discounts	(1 8,228)	(1 7,938)	( 17,162)	776	94 .15%

ITOTAL REVENUES	610,001	600,147	605,533	5,386	99.27%1

EXPENDITURES
Administration

Misc-Assessmnt Collection Cost	 	9,1 14	8,969	8,651	31 8	94.92%
Total Administration	 	9,1 1 4	8,969	8,651	31 8	94.92%
Debt Service
Principal Debt Retirement	21 5,000	0.00%
Principal Prepayments	200,000	(200,000)	0.00%
Interest Expense	 	389,61 0	1 94,805	1 94,805	50.00%
Total Debt Service	 	604,610	1 94,805	394,805		(200,000) 	65.30%

lroTAL EXPENDITURES	61 3,724	203,774	403,456	(199,682)
Excess (deficiency) of revenues
Over (under) expenditures	 	396,373	202,077	(1 94,296)	n/a

OTHER FINANCING  SOURCES {USES}
Contribution to (Use of) Fund Balance lroTAL FINANCING souRcEs (USES!
Net change in fund balance

(3,723)
(3,723)
   $	(3,723)   $	396,373	$	202,077 $

0.00%

(1 94,296)

n/a

0.00%1

FUND BALANCE, BEGINNING (OCT 1, 2018)	621,491	621,491	621,491

FUND BALANCE, ENDING	$	617,768	$	1,017,864	$	823,568

4

Cordoba Ranch Community Development District

Supporting Schedules April 30, 2019

Non-Ad Valorem Special Assessments - Hillsborough Tax Collector (Monthly Collection Distributions)

957

37,953

				

% COLLECTED	
99%	
99%	
99%	
I TOTAL OUTSTANDING	$	1 0,692	$	s.991 1	

For the Fiscal Year Ending September 30, 2019

Date Received	
Net Amount Received	Discount /
(Penalties) Amount	
Collection Cost	
Gross Amount	ALLOCATION BY FUND	
					General Fund	Series 2006 Debt Service Fund	
Assessments Allocation %	Levied FY 2019 

5,021
22,505
48,761
61 1 ,387

11 ,487
11 ,604
7,840	

1 82

2,073
25,994

239
-
-		$	81 3,320
1 00%

5,305
23,921
51 ,829
649,858
39,91 3
11 ,961
11 , 841
8,000	$	357,623
44%	$	455,697
56%

2,973
13,403
29,040
364, 111 
22,363
6,701
6,634
4,482	
1 1 /07/18 
11 /1 6/1 8			1 02		2,333
10,51 8		
11 /26/18 
1 2/07/1 8			
12,477		22,790
285,747		
01 /07/1 9			775		1 7,550		
02/06/1 9			234		5,259		
03/07/1 9			237		5,207		
04/08/19 			1 60		3,518 		
TOTAL	$	756,557	$	30,631	$	15,440	$	802,628	$	352,921	$	449,707	

5

Non-Ad Va!orem Special Assessments - CDD Collected (Monthly Collection Distributions)

ALLOCATION BY FUND

Received

Date

Net Amount

Received

Gross Amount

General

Fund

DSeebriteSse2rv00ic6e

Assessments Levied FY 201 $
Allocation %

$

86,091	$
67,563
43,046
33,781
43,046
33,781

307,307
1 00%

86,091
67,563
43,046
33,781
43,046
33,781

$

1 35,125 $
44%

1 1/21/18 
1 1 /21 /18 
01 /29/1 9
01 /29/1 9
04/23/1 9
04/23/19 

67,563

33,781

33,781

$

Fund

1 72,1 82
56%

86,091

43, 046

43, 046

For the Fiscal Year Ending September 30, 2019 

TOTAL	$	307,307	$	307,307	$ 135,1 25	$	1 72,182	
% COLLECTED	1 00%	1 00%	1 00%	
I TOTAL OUTSTANDING			-I	

6

Community Development District

Cash & Investment Report April 30, 201 9

Checking General fund	Centerstate Bank	N/A	$	1 64,542	
Money Market Account	Bank United	1 .75%	$	509,659	
		Subtotal	 	674,201 	

ACCOUNT NAME OPERATING FUND

BANK NAME

YIELD	BALANCE

DEBT SERVICE AND CAPITAL PROJECT FUNDS

Series 2006 Prepayment Account	US Bank	0.03%	$	6,937	
Series 2006 Reserve Account	US Bank	0.03%	$	234,267	
Series 2006 Revenue Account	US Bank	0.03%	$	532,702	
		Subtotal	 	773,906 	
		Total	$	1,448,107

7

CORDOBA RANCH
Community Development District

Payment Register by Fund
For the Period from 4/1/2019 to 4/30/2019 (Sorted by Check / ACH No.)

Fund I Check /

No.	ACH No.

Date

Payee

Invoice No.

Payment Description

Invoice / GL Description

G/L Account #

Amount

Paid

GENERAL FUND • 001

001	2527	04104/19  INFRAMARK, LLC
001	2527	04104119 INFRAMARK, LLC
001	2527	04104119 INFRAMARK, LLC
001	2528	04104119 AQUAGENIX
001	2529	04/0811 9 STRALEY ROBIN VERICKER
001	2530	04108119 ENVERA SYSTEMS
001	2530	04108/19  ENVERA SYSTEMS
001	2531	04108119 SSS DOWN TO EARTH OPCO LLC
001	2531	0410811 9 SSS DOWN TO EARTH OPCO LLC
001	2531	04/08119  SSS DOWN TO EARTH OPCO LLC
001	2531	04108/19  SSS DOWN TO EARTH OPCO LLC
001	2533	0411211 9 SSS DOWN TO EARTH OPCO LLC
001	2534	0411511 9 V GLOBAL TECH
001	2535	0411 511 9 SSS DOWN TO EARTH OPCO LLC
001	2536	04122/19 STATE WILDLIFE TRAPPER
001	2537	04126119 F. PETER WILLIAMS
001	2538	04/26119 SSS DOWN TO EARTH OPCO LLC
001	DD01 324	04/1 5119  TAMPA ELECTRIC - ACH
001	DD01 324	0411511 9 TAMPA ELECTRIC - ACH
001	DD01 325	04/16119 FRONTIER - ACH

SERIES 2006 DEBT SERVICE FUND - 201

39415	MAR MGMNT SERVICES
39415	MAR MGMNT SERVICES
39415	MAR MGMNT SERVICES
4047776	APRIL AQUATIC MAINT
16903	1 /22-2/1 5/19 GEN COUNSEL
679026	MAY GATE ACCESS/RESI DENTS
679026	MAY GATE ACCESS/RESIDENTS
31 440	SYLVESTER PALM REMOVAL
32689	2670 ANNUALS PLANTED
3271 1	MARCH IRR REPRS
32718	MARCH IRR REPRS
32717	IRR REPRS
1 245	WEBSITE MAINT
32984	APR GRNDS MAINT
1 220	APR HOG REMOVAL SRV
042319	4123119 MTG ATTENDED
33940	PEST APPLICATION
032519 ACH	2/20-3/21/19 ELEC ACH
032519 ACH	2/20-3121/19 ELEC ACH
03221 9-2135	SERVICE FOR 3/22-4/2 111 9

ProfServ-Mgmt Consulting Serv Printing and Binding
Postage and Freight
Contracts-Aquatic Control ProfServ-Legal Services
Contracts-Security Camera Contracts-Security Services
Contracts-Landscape R&M-Plant Replacement
R&M-1 rrigation R&M-lrrigation
R&M-lrrigation Misc-Web Hosting
Contracts-Landscape
ProfServ-Wildlife Management Service PIR-Board of Supervisors
Contracts-Landscape
Utility - General Electricity - Streetlighting Utility - General

531 027-51301 
547001-51301
541 006-51 301
534067-53801
531 023-51 401
534036-52901
534037-52901
534050-53901
546071-53901
546041 -53901
54604 1-53901
54604 1 -53901
54991 5-51301
534050-53901
53 1074-57201
51 1 001-51 101 
534050-53901
543001-531 00
5430 13-531 00
543001-531 00
Fund Total

$3,875.00
$75.70
$7.85
$1 ,034.00
$297.00
$208.30
$1 ,274.70
$800.00
$4,672.50
$75.96
$257.60
$455.24
$75.00
$9,582.84
$1 ,400.00
$200.00
$1,595.00
$620.09
$5,263.80
$1 38.98

 	$31 ,909.56 

201	2532	04/12/19 CORDOBA RANCH C/O US BANK	0108201 9-92802	TRSF TO US BANK ACCOUNT 0478	Due From Other Funds	131000	$121 ,638.00	
						Fund Total	

$121 ,638.00

[Total Checks Paid	$153,547.56 J

8

G OVFRNOR's

AWARD RECIPI ENT 

STEltU NCi

April 1 9, 201 9

Andrew P. Mendenhall Cordoba Ranch CDD 
2634 Cypress Ridge Boulevard, Suite 1 02 Wesley Chapel , FL 33544

Dea r And rew P. Mendenhall, 

As per F.S. 1 90.006, you'll fi nd the nu mber of qualified registered electors fo r your Commun ity Develo pment District as of April 1 5, 201 9, listed below.

Community Development District	Number of Registered Electors	
Cordoba Ranch CDD	255 	
We ask that you respond to our office with a current list of COD office holders by June 1 st and that you update us throughout the yea r if there are changes. This will enable us to provide accu rate i nformation to potential candidates during fi li ng and qualifying periods.

Please note it is the responsibility of each district to keep our offi ce updated with cu rrent district information. If you have any questions, please do n ot hesitate to contact me at (81 3) 384-3944 or ewhite@hcsoe.org.

Respectful ly,

\

r        ,>

c�ycGCc
E njoli White
Candidate Services Liaison

(Ste Plehsile for tet;io11c1t o/f(ce locnuons )

CORDOBA RANCH COMMUNITY DEVELOPMENT DISTRICT
HILLSBOROUGH COUNTY, FLORIDA FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018

CORDOBA RANCH COMMUNITY DEVELOPMENT DISTRICT HILLSBOROUGH COUNTY, FLORIDA

TABLE OF CONTENTS

INDEPENDENT AUDITOR'S REPORT
MANAGEMENT'S DISCUSSION AND ANALYSIS 
BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements:
Statement of Net Position Statement of Activities
Fund Financial Statements
Balance Sheet - Governmental Funds
Reconciliation of the Balance Sheet - Governmental Funds to the Statement of Net Position
Statement of Revenues, Expenditures and Changes in Fund Balance - Governmental Fu nds
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities
Notes to the Financial Statements
REQUIRED SUPPLEMENTARY INFORMATION 

Page 1 -2

7
8
9
10 
11 
12 
1 3-20

Schedule of Revenues, Expenditures and Changes in Fund Balance -	21
Budget and Actual - General Fund
Notes to Required Supplementary Information	22
INDEPENDENT AUDITOR'S REPORT ON I NTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN
AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE	23-24
WITH GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 21 8.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556( 1 0)
OF THE AUDITOR GENERAL OF THE STATE OF FLORI DA
MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL	26-27
OF THE STATE OF FLORIDA

Grau &. Associates
CERTIFI ED PUB LIC ACCOUNTANTS

951 Yamato Road • Suite 280 Boca Raton, Florida 33431 (561) 994-9299 • (800) 299-4728
Fax (561) 994-5823
www. graucpa.com

INDEPENDENT AUDITOR'S REPORT
To the Board of Supervisors
Cordoba Ranch Community Development District Hillsborough County, Florida
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities and each majorfund of Cordoba Ranch Community Development District, Hillsborough County, Florida ("District") as of and for the fiscal year ended September 30, 201 8, and the related notes to the financial statements, which collectively com prise the District's basic financial statements as listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor's Responsibility

Our responsibility is to express opinions on these financial statements based on ou r audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards req uire that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedu res to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit proced ures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control . Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Opinions
In our opinion, 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 the District as of September 30, 2018, and the respective changes in financial position thereof for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.

Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management's discussion and analysis and budgetary comparison information be presented to supplement the basic financial statements.  Such information,  although not a  part of the basic financial statements,  is required  by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated May 14, 201 9, 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, contracts, 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 the effectiveness of the District's internal control over financial reporting or on compliance. That report is an integ ral part of an audit performed in accordance with Government Auditing Standards in considering the District's internal control over financial reporting and compliance.
Report on Other Legal and Regulatory Requirements
We have also issued our report dated May 14, 2019, on our consideration ofthe District's compliance with the requirements of Section 21 8.41 5, Florida Statutes, as required by Rule 10 .556( 1 0) of the Auditor General of the State of Florida. The purpose of that report is to provide an opinion based on our examination conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.

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May 14, 2019 

2

MANAGEMENT'S DISCUSSION AND ANALYSIS
Our discussion and analysis of Cordoba Ranch Community Development District, Hillsborough County, Florida (" District") provides a narrative overview of the District's financial activities forthe fiscal year ended September 30, 2018. Please read it in conjunction with the District's Independent Auditor's Report, basic financial statements, accompanying notes and supplementary information to the basic financial statements.
FINANCIAL HIGHLIGHTS
The assets of the District exceeded its liabilities at the close of the most recent fiscal year resulting in a net position balance of $5,677,467.
The change in the District's total net position in comparison with the prior fiscal year was ($1 96,736), a decrease. The key components of the District's net position and change in net position are reflected in the table in the government-wide financial analysis section.
At September 30, 201 8, the District's governmental funds reported combined ending fund balances of
$1, 007,505, an increase of $1 05, 572 in comparison with the prior fiscal year. The fund balance is non-spendable for prepaid items and deposits, restricted for debt service, assigned to reserves and capital projects, and the remainder is unassigned fund balance which is available forspending at the District's discretion.
OVERVIEW OF FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as the introduction to the District's basic financial statements. The District's basic financial statements arecomprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.
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 statement of net position presents information on all the District's assets, deferred outflows of resources, liabilities, and deferred inflows of resources with the residual amount being reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.
The statement of activities presents information showing howthe government's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless ofthe timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods.

The government-wide financial statements include all governmental activities thatare principally supported by special assessments. The District does not have any business-type activities. The governmental activities of the District include the general government (management), maintenance and recreational functions.
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, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The District has one fund category: governmental funds.

3

OVERVIEW OF FINANCIAL STATEMENTS (Continued)
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 near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a District's near-term financing req uirements.
Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the District's near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.
The District maintains three governmental funds for external reporting . Information is presented separately in the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances for the general fund, debt service fund and capital projects fund. All of which are considered to be major funds. The capital projects fund was closed during the current fiscal year.
The District adopts an annual appropriated budget for its general fund. A budgetary comparison schedule has been provided for the general fund to demonstrate compliance with the budget.
Notes to the 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.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
As noted earlier, net position may serve over time as a useful indicator of an entity's financial position. In the case of the District, assets exceeded liabilities at the close of the most recent fiscal year.
Key components of the District's net position are reflected in the following table:
NET POSITION
SEPTEMBER 30,	201 8	2017

Current and other assets	$	1, 037, 592  $		91 6,453 Capital assets, net of depreciation	 	11 ,852,300	12, 364,348 
Total assets	 	12, 889,892	13,280,801 
Current liabilities	1 92,425	1 81 ,598
Long-term liabilities	 	7,020,000	7,225,000 
Total liabilities	 	7,212,425	7,406, 598 Net position
Net im.estment in capital assets	4, 832,300	5,1 39, 348

Restricted for:
Debt service Capital projects
Unrestricted

459,154	455, 216

2, 224
 	386,01 3	277,415 

Total net position	$	5,677,467  $	5,874,203
The District's net position reflects its investment in capital assets (e.g. land, land improvements, and infrastructure) less any related debt used to acquire those assets that is still outstanding. These assets are used to provide services to residents; consequently, these assets are not available for future spending. Although the District's investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.

4

GOVERNMENT-WIDE FINANCIAL ANALYSIS (Continued)
The restricted portion of the District's net position represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net position may be used to meet the District's other obligations.
The District's net position decreased during the most recent fiscal year. The majority of the decrease represents the extent to which the cost of operations and depreciation expense exceeded ongoing program revenues.
Key elements of the change in net position are reflected in the following table:
CHANGES IN NET POS ITION
FOR THE FISCAL YEAR ENDED SEPTE MBER 30,

Re-.enues:
P rogram re-.enues Charges for services
Operating grants and contributions Capital Grants and Contributions
General re-.enues Total re-.enues
Expenses:
General go-.ernment

 	201 8	2017	

$	1, 089, 1 02   $	1, 089,306
1, 509	1 ,020

4,435

3
 	5,702 
 	1, 095, 046	1, 096,031 
85, 355	85, 882

Maintenance and operations	702, 274	723,815 
Parks and recreation	88,338	1 08, 877
Public s afety	19, 568	17,551
Interest	 	396, 247	407, 1 39 
Total expenses	 	1 ,291 , 782	1, 343,264 
Change in net position	(1 96,736)	(247,233)
Net position - beginning	 	5,874,203	6, 12 1 ,436 
Net position - ending	$	5,677,467  $	5, 874,203

As noted above and in the statement of activities, the cost of all governmental activities du ring the fisca l year ended September 30, 2018 was $1 ,291 ,782. The costs of the District's activities were primarily funded by program revenues. Program revenues of the District are comprised primarily of assessments for both the current and prior fiscal years. Prog ram revenues, comprised primarily of assessments, decreased slig htly du ring the fiscal year as a result of a decrease in miscellaneous revenue. In total, expenses, including depreciation, decreased from the prior fiscal year. The majority of the decrease was the result of a decrease in professional services including landscape maintenance and repairs.
GENERAL BU DGETING HIGHLIGHTS
An operating budget was adopted and maintained by the governing board for the District pursuant to the requirements of Florida Statutes. The budget is adopted using the same basis of accounting that is used in preparation of the fund  financial  statements.  The legal  level  of budgetary  control,  the  level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 201 8.
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Asset
At September 30, 201 8, the District had $1 3, 907,622 invested in capital assets for its governmental activities. In the government-wide financial statements, depreciation of $2, 055,322 has been taken, which resulted in a net book value of $1 1 ,852, 300 . More detailed information about the District's capital assets is presented in the notes to the financial statements.

5

CAPITAL ASSET AND DEBT ADMINISTRATION (Continued)
Capital Debt
At September 30, 2018, the District had $7, 020,000 in Bonds outstanding for its governmental activities. More detailed information about the District's capital debt is presented in the notes to the financial statements.
ECONOMIC FACTORS AND N EXT YEAR'S BUDGET
The District does not anticipate any major projects or significant changes to its infrastructure maintenance program for the subsequent fiscal year. In addition, it is anticipated that the general operations of the District will remain fairly constant.
CONTACTING THE DISTRICT'S FI NANCIAL MANAGEMENT
This financial report is designed to provide our citizens, land owners, customers, investors and creditors with a general overview of the District's finances and to demonstrate the District's accountability for the financial resources it manages and the stewardship of the facilities it maintains. If you have questions aboutthis report or need additional financial information, contact the Cordoba Ranch Community Development District's Finance Department at 210 N. University Drive, Suite 702, Coral Springs, Florida 33071 .

6

CORDOBA RANCH COMMUNITY DEVELOPMENT DISTRICT HILLSBOROUGH COUNTY, FLORIDA
STATEMENT OF NET POSITION SEPTEMBER 30, 2018

I nvestments	392 ,840	
Assessments receivable	5,1 03	
Prepaids	8,842	
Deposits	11 , 540	

ASSETS

Governmental
 	Activities	

Restricted assets:
I nvestments Capital assets:
Non-depreciable Depreciable assets, net
Total assets
LIABI LITIES
Accounts payable and accrued expenses Accrued interest payable
Non-current liabilities:
Due within one year
Due in more than one year Total liabilities
NET POSITION
Net investment in capital assets Restricted for debt service
Unrestricted
Total net position

See notes to the financial statements

61 9, 267
405,473
 	11 ,446,827 
 	12, 889, 892 

30, 087
1 62, 338
215,000
 	6,805, 000 
 	7,212,425 

4, 832, 300
459, 1 54
 	386, 01 3 

$	5,677,467

7

CORDOBA RANCH COMMUNITY DEVELOPMENT DISTRICT HILLSBOROUGH COUNTY, FLORIDA
STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 

Program Revenues Charges	Operating

(41 6,648)

for	Grants and

Net (Expense) Revenue and Changes in Net Position
Governmental

Functions/Programs Primary government:

General government	85,355	85, 355	$	
Maintenance and operations	702,274	285,626		
Parks and recreation	88,338	88,338		
Public safety	19,568	19, 568		
I nterest on long-term debt	 	396,247		610,21 5			

Governmental activities:

 	Expenses	Services	Contributions	Activities

-

$	$	$
-

Total governmental activities

1, 509	215,477 
 	1 ,291 ,782	1, 089, 1 02	1, 509	(201 ,171 ) 
General revenues:

Investment earnings Miscellaneous Revenues
Total general revenues Change in net position
Net position - beginning Net position - ending

See notes to the financial statements

3, 1 70
 	1,265 
 	4,435 
(196,736)
 	5, 874,203 

$	5,677,467

8

BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2018

ASSETS
Cash and equivalents I nvestments
Assessments receivables Due from other funds Prepaids
Deposits
Total assets
LIABI LITIES AND FUND BALANCES
Liabilities:

 	Major Funds		Total
Debt	Capital	Governmental
 	General	Service	Projects	Funds	

$

-
392,840
5, 1 03

$

$

$

 	11 ,540	11 , 540 

8,842

61 9,267
2,225

1, 012, 1 07
5,1 03
2,225

8,842

$

41 8,325

$

621 ,492

$

$	1, 039,81 7

Accounts payable and accrued expenses	30, 087	$	$	$	30,087
Due to other funds	 	2,225	2,225 

Total liabilities	 	32 ,312	32 ,312 

20, 382

621 ,492

44, 040

20,382
621 ,492
44,040

 	1 51 ,464	151 ,464 
 	386,013	621 ,492	1 , 007,505 

1 70, 1 27

1 70, 1 27

$	418, 325	$

62 1 ,492

$

$	1 , 039,81 7

Fund balances: Nonspendable for:
Prepaids and deposits Restricted for:
Debt service Assigned to:
Operating reserves Capital projects
Unassigned
Total fund balance
Total liabilities and fund balances

See notes to the financial statements
9

RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION
SEPTEMBER 30, 2018

Fund balance - governmental funds
Amounts reported for governmental activities in the statement of net position are different because:
Capital assets used in governmental activities are not financial resources and, therefore, are not reported as assets in the governmental funds. The statement of net position   includes   those   capital   assets,   net  of   any accumulated depreciation, in the net position of the government as a whole.

$ 1 ,007,505

Cost of capital assets Accumulated depreciation
Liabilities not due and payable from current available resources are not reported as liabilities in the governmental fund statements. All liabilities, both current and long-term, are reported in the government-wide financial statements.
Accrued interest payable

1 3, 907,622

(2, 055,322)

(162,338)

11 , 852, 300

Bonds payable
Net position of governmental activities

   (7,020,000)	(7,1 82,338)

$ 5,677,467

See notes to the financial statements
10 

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018

Assessments	$	478,887	$	610,215 	$	$ 1 ,089, 1 02	
I nterest and other revenues	3, 1 70	1, 509	4,679	

REVENUES

Major Funds	Total

Debt	Capital	Governmental
 	General	Service	Projects	Funds	

Miscellaneous revenue	 	1, 265	1, 265 

Total revenues	 	483, 322	61 1, 724	1 ,095, 046 
EXPENDITURES
Current:

General government	76, 592	8,763	85, 355
Maintenance and operations	257, 224	257,224
Parks and rec reation	21 ,340			 21, 340
Public safety	19,568	1 9, 568
Debt service:

Principal	205, 000	205, 000
I nterest	 	400,987	400,987 
Total expenditures	 	374,724	614,750	989,474 
Excess (deficiency) of revenues

over (under) expenditures	 	1 08, 598		(3, 026)	105,572 
OTHER FINANCI NG SOURCES (USES)

l nterfund transfer in (out)	 	2,224	(2,224)	

Total other financing sources (uses)	 	2,224		(2,224)	
Net change in fund balances	1 08, 598	(802)	(2,224)	1 05,572
Fund balance - beginning	 	277,415	622,294	2,224	901 , 933 

Fund balance - ending	$	386,01 3	$	621 ,492	$	$ 1 , 007, 505

See notes to the financial statements
11 

RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018

Amounts reported for governmental activities in the statement of activities are different because:
Net change in fund balances - total governmental funds
Depreciation of capital assets is not recognized in the governmental fund financial statements, but is reported as an expense in the statement of activities.
Repayment of long-term liabilities are reported as expenditures in the governmental fund financial statements, but such repayments reduce liabilities in the statement of net position and are eliminated in the statement of activities.
The change in accrued i nterest on long-term liabilities between the current and prior fiscal years is recorded in the statement of activities,

$	1 05,572

(512,048)

205,000

but not in the governmental fund financial statements.	4,740

Change in net position of governmental activities

==$ ==("'==1 96==,73="'=6)

See notes to the financial statements

12 

NOTES TO THE FINANCIAL STATEMENTS

NOTE 1 - NATURE OF ORGANIZATION AND REPORTING ENTITY
Cordoba Ranch Community Development District ("District") was established on December 13, 2005 by the Board of County Commissioners of Hillsborough County, Florida, pursuant to the Uniform Community Development District Act of 1 980, otherwise known as Chapter 1 90, Florida Statutes, under Hillsborough County Ordinance 05-23. The Act provides, among other things, the power to manage basic services for community development, power to borrow money and issue bonds, and to levy and assess non-ad valorem assessments for the financing and delivery of capital infrastructure.
The District was established for the purpose of financing and managing the acq uisition, construction, maintenance and operation of a portion of the infrastructure necessary for community development within the District.
The District is governed by the Board of Supervisors ("Board") which is composed of five members. The Supervisors are elected on an at large basis by landowners of the District. The Board of Supervisors of the District exercise all powers g ranted to the District pursuant to Chapter 1 90, Florida Statutes. At September 30, 201 8, all of the Board members are affiliated with Cal Atlantic Homes (the " Developer").
The Board has the responsibility for:
1 .	Allocating and levying assessments. 2.	Approving budgets.
Exercising control over facilities and p roperties.
Controlling the use of funds generated by the District.
Approving the hiring and firing of key personnel.
Financing improvements.
The financial statements were prepared in accordance with Governmental Accounting Standards Board ("GASS") Statements. Under the provisions of those standards, the financial reporting entity consists of the primary government, organizations for which the District is considered to be financially accountable, and other organizations for which the nature and significance of their relationship with the District are such that, if excluded, the financial statements of the District would be considered incomplete or misleading. There are no entities considered to be component units of the District; therefore, the financial statements include only the operations of the District.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Government-Wide and Fund Financial Statements
The basic financial statements include both government-wide and fund 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 non-fiduciary activities of the primary government. Forthe most part, the effect of interfund activity has been removed from these statements.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment is 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 who purchase, use or directly benefit from goods, services or privileges provided by a given function or segment; operating-type special assessments for maintenance and debt service are treated as charges for services; and 2) g rants and contributions that are restricted to meeting the operational or capital requi rements of a particular function or segment. Other items not included among program revenues are reported instead as general revenues.

13 

Measurement Focus1 Basis of Accounting and Financial Statement Presentation

The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis ofaccounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Assessments are recognized as revenues in the year for which they are levied. Grants and similar items are to be recognized as revenue as soon as all eligibility requi rements imposed by the provider have been met.
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 or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures are recorded only when payment is due.
Assessments
Assessments, including debt service assessments and operations and maintenance assessments, are non-ad valorem assessments imposed on assessable lands located with in the District benefited by the District's activities. Debt service assessments were imposed pursuanttothe District's assessment resolution at the time of issuance of the Bonds. Operations and maintenance aassessments are levied by the District annually prior to the start of the fiscal year which begins on October 1 and ends on September 30. Operations and maintenance special assessments are imposed upon benefitted lands located in the District. Debt service special assessments were imposed upon certain lots and lands as described in each resolution imposing the special assessment for each series of bonds issued by the District and are collected in accordance with the District's annual assessment resolution.
Assessments and interest received associated with the current fiscal period are considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. The portion of assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period .
The District reports the following major governmental funds:
General Fund
The general fund is the general operating fund ofthe District. It is used to account for all financial resources except those required to be accounted for in another fu nd.
Debt Service Fund
The debt service fund is used to account for the accumulation of resources for the annual payment of principal and interest on long-term debt.
Capital Project Fund
The capital project fund is used to account for financial resources to be used for the acquisition or construction of major infrastructure within the District. This fund was closed during the current fiscal year.
As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements.
When both restricted and unrestricted resources are available for use, it is the District's policy to use restricted resources first for qualifying expenditures, then unrestricted resources as they are needed.

14 

Assets, Liabilities and Net Position or Equity
Restricted Assets
These assets represent cash and investments set aside pursuant to Bond covenants or other contractual restrictions.
Deposits and I nvestments
The District's cash on hand and demand deposits are considered to be cash and cash equivalents.
The District has elected to proceed under the Alternative Investment Guidelines as set forth in Section 21 8.415 (17) Florida Statutes. The District may invest any surplus public funds in the following:
The Local Government Surplus Trust Funds, or any intergovernmental investment pool authorized pursuant to the Florida lnterlocal Cooperation Act;
Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency;
Interest bearing time deposits or savings accounts in qualified public depositories; Direct obligations of the U.S. Treasury;
Securities listed in paragraph c and d shall be invested to provide sufficient liquidity to pay obligations as they come due. In addition, surplus funds may be deposited into certificates of deposit which are insured and any unspent Bond proceeds are req uired to be held in investments as specified in the Bond Indenture.
The District records all interest revenue related to investment activities in the respective funds. Investments are measured at amortized cost or reported at fair value as required by generally accepted accounting principles.
Inventories and Prepaid Items
Inventories of governmental funds are recorded as expend itures when consumed rather than when purchased.
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements.
Capital Assets
Capital assets, which include property, plant and equipment, and infrastructure assets (e.g., roads, bridges, sidewalks and similar items) are reported in the governmental activities column in the government-wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than $5, 000 (amount not rounded) and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are completed.
Property, plant and equipment of the District are depreciated using the straight-line method over the following estimated useful lives:
 	Assets	 	Year   s	
Roadways	30
Stonnwater Management	25
Landscaping	15 
Equipment	5
In the governmental fund financial statements, amounts incurred for the acquisition of capital assets are reported as fund expenditures. Depreciation expense is not reported in the governmental fund financial statements.
15 

Assets, Liabilities and Net Position or Equ ity (Continued)
Unearned Revenue
Governmental funds report unearned revenue in connection with resources that have been received , but not yet earned.
Long-Term Obligations

In the government-wide financial statements long-term debt and other long-term obligations are reported as liabilities in the statement of net position. Bond premiums and discounts are deferred and amortized ratably over the life of the Bonds. Bonds payable are reported net of applicable premiums or discounts. Bond issuance costs are expensed when incurred.
In the fund financial statements, governmental fund types recognize premiums and discounts, as well as issuance costs, during the cu rrent period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not with held from the actual debt proceeds received , are reported as debt service expenditures.
Deferred Outflows/Inflows of Resou rces

In addition to assets, the statement of financial position will sometimes report 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 a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then.
In addition to liabilities, the statement of financial position will sometimes report 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(s) and so will not be recognized as an inflow of resources (revenue) until that time.
Fund Equity/Net Position
In the fund financial statements, g overnmental funds report non spendable and restricted fund balance for amounts that are not available for appropriation or are legally restricted by outside parties for use for a specific purpose. Assignments of fund balance represent tentative management plans that are subject to change.
The District can establish limitations on the use of fund balance as follows:
Committed fund balance - Amounts that can be used only forthe specific purposes determined by a formal action (resolution) of the Board of Supervisors. Commitments may be changed or lifted only by the Board of Supervisors taking the same formal action (resolution) thatimposed the constraint originally. Resources accumulated pursuant to stabilization arrangements sometimes are reported in this category.
Assigned fund balance - I ncludes spendable fund balance amounts established by the Board of Supervisors that are intended to be used for specific purposes that are neither considered restricted nor committed . The Board may also assign fund balance as it does when appropriating fund balance to cover differences in estimated revenue and appropriations in the subsequent year's appropriated budget Assignments are generally temporary and normally the same formal action need not be taken to remove the assignment.
The District first uses committed fund balance, fol lowed by assigned fund balance and then unassigned fund balance when expenditures are incu rred for purposes for which amounts in any of the unrestricted fund balance c lassifications could be used.

16 

Assets1 Liabilities and Net Position or Equ ity (Continued)
Fund Equity/Net Position (Continued)

Net position is the difference between assets and deferred outflows of resources less liabilities and deferred inflows of resources. Net position in the government-wide financial statements are categorized as net investment in capital assets, restricted or unrestricted . Net investment in capital assets represents net position related to infrastructure and property, plant and equipment. Restricted net position represents the assets restricted by the District's Bond covenants or other contractual restrictions. Unrestricted net position consists of the net position not meeting the definition of either of the other two components.
Other Disclosures
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities as of 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.
NOTE 3 - BUDGETARY INFORMATION

The District is required to establish a budgetary system and an approved Annual Budget. Annual Budgets are adopted on a basis consistent with generally accepted accounting principles for the general fund. All annual appropriations lapse at fiscal year-end.
The District follows these procedures in establishing the budgetary data reflected in the financial statements.
Each year the District Manager submits to the District Board a proposed operating budgetfor the fiscal year commencing the following October 1. 
A public hearing is conducted to obtain public comments.
Prior to October 1, the budget is legally adopted by the District Board.
All budget changes must be approved by the District Board.
The budgets are adopted on a basis consistent with generally accepted accounting principles.
Unused appropriation for annually budgeted funds lapse at the end of the year.
NOTE 4 - DEPOSITS AND I NVESTM ENTS
Deposits
The District's cash balances were entirely covered by federal depository insurance or by a collateral pool pledged to the State Treasurer. Florida Statutes Chapter 280, "Florida Security for Public Deposits Act" , requires all qualified depositories to deposit with the Treasurer or another banking institution eligible collateral equal to various percentages of the average daily balance for each month of all public deposits in excess of any applicable deposit insurance held. The percentage of eligible collateral (generally, U.S. Governmental and agency securities, state or local government debt, or corporate bonds) to public deposits is dependent upon the depository's financial history and its compliance with Chapter 280. In the event of a failure of a qualified public depository, the remaining public depositories would be responsible for covering any resulting losses.

17 

Investments
The District's investments were held as follows at September 30, 201 8:
Weighted A1.erage
   Amortized Cost	Credit Risk	Maturities	

U.S. Bank Commercial paper Total ln1.estments

$	1, 012,1 07

$	1, 012,1 07

S&P A-1

Open ended

Credit risk - For investments, credit risk is generally the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Investment ratings by investment type are included in the preceding summary of investments.
Concentration risk - The District places no limit on the amount the District may invest in any one issuer.
Interest rate risk - The District does not have a formal policy that limits investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates.
H owever, the Bond Indenture limits the type of investments held for unspent Bond proceeds.
Fair Value Measurement - When applicable, the District measures and records its investments using fair value measurement guidelines established in accordance with GASB Statements. The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques.
These guidelines recognize a th ree-tiered fair value hierarchy, in order of highest priority, as follows:
Level 1: Investments whose values are based on unadjusted quoted prices for identical investments in active markets that the District has the ability to access;
Level 2: Investments whose inputs - other than quoted market prices - are observable either directly or indirectly; and,
Level 3: Investments whose inputs are unobservable.
The fair value measurement level within the fair va lue h ierarchy is based on the lowest level ofany input that is significant to the entire fair value measurement. Valuation techniques used should maximize the use of observable inputs and minimize the use of unobservable inputs.
Money market investments that have a maturity at the time of purchase of one year or less and are held by governments other than external investment pools should be measured at amortized cost. Accordingly, the District's investments have been reported at amortized cost above.

18 

Capital asset activity for the fiscal year ended September 30, 201 8 was as follows:
Beginning	Ending

Gm.emmental acti\Aties
Capital assets, not being depreciated Land and land lmprm.ements
Total capital assets, not being depreciated
Capital assets, being depreciated Roadways
Stormwater Management Landscaping
Equipment
Total capital assets, being depreciated
Less accumulated depreciation for: Roadways
Stormwater Management Landscaping
Equipment
Total accumulated depreciation
Total capital assets, being depreciated, net G01.emmental acti\Aties capital assets, net

 	Balance	Additions	DiS[:!OSals	Balance	

   $	405,473   $	$	$	405,473 

405,473

405,473

3, 339,782

9, 1 12,196

9, 1 12, 196

 	45,202	45,202 

1, 004,969

3, 339,782

1, 004,969

 	1 3,502,1 49	13,502,1 49 

400,773

91 1 ,220

303,740

1 33,591

1, 214,960

 	30,287	7,71 9	38,006 

200,994

66,998

534, 364

267, 992

1, 543,274	512,048
11 ,958,875	(512, 048)
$    12, 364,348   $	(512, 048) $

2, 055,322
11 ,446, 827
$	11 ,852,300

Depreciation expense was charged to function/programs as follows:
Maintenance and operations	$	445,050
Parks and recreation	 	66,998 
Total depreciation expense	$	5·12,048

NOTE 6 - LONG-TERM LIABILITIES
Series 2006
On July 13, 2006 the District issued $1 0,220, 000 of Capital Improvement Revenue Bonds, due May 1, 2037 with a fixed interest rate of 5.55%. The Bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District. I nterest is to be paid semiannually on each May 1 and November 1, commencing November 1, 2006. Principal is to be paid serially commencing May 1, 2008
through May 1, 2037.
The Bonds are subject to redemption at the option of the District prior to maturity. The Bonds are subject to extraordinary mandatory redemption prior to their selected maturity in the manner determined by the Bond Registrar if certain events occu rred as outlined in the Bond Indenture. See Note 11 - Subsequent Events for call amounts subsequ ent to year end.
The Bond Indenture established a debt service reserve requirement as well as other restrictions and requirements relating principally to the use of proceeds to pay for the infrastructure improvements and the procedures to be followed by the District on assessments to property owners. The District agrees to levy special assessments in annual amounts adequate to provide payment of debt service and to meet the reserve requirements. The District was in compliance with the requirements at September 30, 2018. 

19 

Long-term debt activity
Changes in long-term liability activity for the fiscal year ended September 30, 2018 were as follows:

Beginning

Gm,emmenli;!I acti-,ili�s

Balance

Additions

Reductions

Balance

Ending

Due Within

One Year

Bonds payable:

Series 2006

Total

  $   7,225,000    $	$	(205,000)   $   7,020,000   $	215,000 

$

7,225,000

$

$

(205, 000)

$

7,020,000

$

215,000

At September 30, 201 8, the sched u led debt ser1ice requirements on the long-term debt were as follows:

Year ending

Go1.emmental Acli-,ities

$

$

September 30: 	Principal	Interest	Total	

2019	$	215,000	389,61 0
2020	225,000	377,678
2021	240,000	365, 1 90
2022	255,000	351 ,870
2023	265,000	337,718 
2024-2028	1, 590,000	1,448,273
2029-2033	2, 090,000	954,323

604,610
602,678
605, 190
606,870
602,71 8
3,038,273
3, 044,323

2034-2037	 	2,140,000	305,250	2,445,250 

Total	$	7, 020,000   $	4,529,91 2  $	11 ,549,912
NOTE 7 - DEVELOPER TRANSACTIONS
For the current fiscal year, Developer assessment revenues in the general and debt service fu nds were
$334,975 and $426 ,836, respectively.
NOTE 8 - CONCENTRATION
A significant portion ofthe District's activity is dependent upon the continued involvement ofthe Developer, the loss of which could have a material adverse effect on the District's operations.
NOTE 9 - MANAGEMENT COMPANY
The District has contracted with a management company to perform management advisory services, which include financial and accounting advisory services. Certain employees of the management company also serve as officers (Board  appointed non-voting positions) of the District. Under the agreement, the District compensates the management company for management, accounting, financial reporting, and other administrative costs.
NOTE 10 - 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; and natural disasters. The District has obtained commercial insurance from independent third parties to mitigate the costs ofthese risks; coverage may not extend to all situations. There were no claims during the past three years.
NOTE 11 - SUBSEQUENT EVENTS
Bond Payments
Su bsequent to fiscal year end ,  the District prepaid  a total of $200, 000 of the Series 2006 Bonds. The prepayments were considered extraordinary mandatory redemptions as outlined in the Bond Indenture.

20

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - GENERAL FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 

Budgeted

Amounts	Actual

Variance with Final Budget - Positive

  Original & Final	Amounts	( Negative)	

Assessments	$	478,443	$	478,887	$	444	
Miscellaneous revenue		1, 265	1 , 265	
I nterest and other revenues		 	3, 1 70		3, 1 70 	

REVENUES

Total revenues
EXPENDITURES

General government	89, 755	76,592	13,1 63	
Maintenance and operations	333, 743	257,224	76,519 	
Parks and recreation	31 ,795	21 , 340	10,455	
Public safety	18, 950	19, 568	(618)	

Current:

 	478,443	483,322	4,879 

Capital outlay
Total expenditures
Excess (deficiency) of revenues

 	50, 000	50,000 

 	524,243	374, 724	1 49,519 

over (under) expenditures
OTHER Fl NANCI NG SOURCES

(45, 800)

1 08, 598

1 54, 398

Use of fund balance
Total other financing sources ( uses)
Net change in fund balance Fund balance - beginning
Fund balance - ending

 	45, 800	(45,800) 

 	45, 800	(45,800) 

$	1 08, 598  =$ ==1 0==8, 5=98=
 	277,415 

$	386, 01 3

See notes to required supplementary information
21 

NOTES  TO  REQUIRED  SUPPLEMENTARY INFORMATION

The District is required to establish a budgetary system and an approved Annual Budgetfor the general fund. The District's budgeting process is based on estimates of cash receipts and cash expenditures which are approved by the Board.  The budget approximates a basis consistent with accounting principles generally accepted in the United States of America (generally accepted accounting principles). 
The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations m ust be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 201 8.

22

951 Yamato Road • Suite 280 Boca Raton,  Florida  33431 (561 ) 994-9299 • (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT A UDITING STANDARDS
To the Board of Supervisors
Cordoba Ranch Community Development District Hillsborough County, Florida
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in GovernmentAuditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities and each major fund of Cordoba Ranch Community Development District, Hillsborough County, Florida (" District") as of and for the fiscal year ended September 30, 201 8, and the related notes to the financial statements, which collectively comprise the District's basic financial statements, and have issued our opinion thereon dated May 14, 2019.
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) to determine the audit procedu res that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not forthe 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 deficiencyin internal control exists whenthe design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of theentity's financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the firstparagraph 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, du ring our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified .
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the District's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts,  and  agreements,  noncompliance with  which  could  have a  direct and material  effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

Purpose of this Report

The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity's internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

May 14, 2019 

24

Grau & Associates
CE RTI FI ED PUB LIC ACCOU N TI\NTS

Boca Raton, Florida 33431
(561) 994-9299 • (800) 299-4728
Fax (561 ) 994-5823
www. graucpa. com

INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 1 0.556(10) OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
To the Board of Supervisors
Cordoba Ranch Community Development District Hillsborough County, Florida
We have examined Cordoba Ranch Community Development District, Hillsborough County, Florida's ("District") compliance with the requirements of Section 21 8.415, Florida Statutes, in accordance with Rule 10.556(10) of the Auditor General of the State of Florida during the fiscal year ended September 30, 201 8. Management is responsible for the District's compliance with those requirements. Our responsibility is to express an opinion on the 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. Those standards require that we plan and perform the examination to obtain reasonable assu rance about whether the District complied, in all material respects, with the specified requi rements referenced in Section 21 8.41 5, Florida Statutes. An examination involves performing procedu res to obtain evidence about whether the District complied with the specified requirements. The nature, timing, and extent of the proced ures selected depend on our judgment, including an assessment of the risks of material noncompliance, whether due to fraud or error. We believe that the evidencewe obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the District's compliance with specified requirements.
In our opinion, the District complied, in all material respects, with the aforementioned requirements for the fiscal year ended September 30, 201 8.
This report is intended solely for the information and use ofthe Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, management, and the Board of Supervisors of Cordoba Ranch Community Development District, Hillsborough County, Florida and is not intended to be and should not be used by anyone other than these specified parties.
_%'? 4,,i,, J- �,,;J;;;,_
May 14, 2019 

25

Grau & Associates
CERTIFIED  P l!BUC ACCO UNTANTS

Boca Raton, Florida 33431
(561) 994-9299 • (800) 299-4728
Fax (561 ) 994-5823
www.graucpa.com

MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
To the Board of Supervisors
Cordoba Ranch Community Development District Hillsborough County, Florida
Report on the Financial Statements
We have audited the accompanying basic financial statements of Cordoba Ranch Community Development District, Hillsborough County, Florida ("District") as of and for the fiscal year ended September 30, 201 8, and have issued our report thereon dated May 14, 2019 .
Auditor's Responsibility
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; and Chapter 10.550, Rules of the Auditor General.
Other Reporting Requirements
We have issued our I ndependent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; and Independent Auditor's Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 31 5, regarding compliance requirements in accordance with Chapter 10.550, Rules ofthe Auditor General. Disclosures in those reports, which are dated May 14, 2019, should be considered in conjunction with this management letter.
Purpose of this Letter
The purpose of this letter is to comment on those matters required by Chapter 1 0.550 of the Rules of the Auditor General of the State of Florida. Accordingly, in connection with our audit of the financial statements of the District, as described in the first paragraph, we report the following:
Current year findings and recommendations.
Status of prior year findings and recommendations.
Ill. Compliance with the Provisions of the Auditor General of the State of Florida.
Our management letter is intended solelyfor the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, Federal and other g ranting agencies, as applicable, management, and the Board of Supervisors of Cordoba Ranch Community Development District, Hillsborough County, Florida and is not intended to be and should not be used by anyone other than these specified parties.
We wish to thank Cordoba Ranch Community Development District, Hillsborough County, Florida and the personnel associated with it, for the opportunity to be of service to them in this endeavor as well as future engagements, and the courtesies extended to us.

May 14, 201 9

26

REPORT TO MANAGEMENT

CURRENT YEAR FINDINGS AND RECOMMENDATIONS
None
PRIOR YEAR FINDINGS AND RECOMMENDATIONS
None
Ill. COMPLIANCE WITH THE PROVISIONS OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
Unless otherwise req uired to be reported in the auditor's report on compliance and internal controls, the management letter shall include, but not be limited to the following:
A statement as to whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report.
There were no significant findings and recommendations made in the preceding annual financial audit report for the fiscal year ended September 30, 201 7.
Any recommendations to improve the local governmental entity's financial management.
There were no such matters discovered by, or that came to the attention of, the auditor, to be reported for the fiscal year ended September 30, 2018. 
Noncompliance with p rovisions of contracts or g rant agreements, or abuse, that have occu rred , or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance.
There were no such matters discovered by, or that came to the attention of, the auditor, to be reported , for the fiscal year ended September 30, 201 8.
The name or official title and legal authority ofthe District are disclosed in the notes to the financial statements.
The District has not met one or more of the financial emergency conditions described in Section 21 8.503(1), Florida Statutes.
6. We applied financial condition assessment procedures and no deteriorating financial conditions were noted as of September 30, 2018. It is management's responsibility to monitor financial condition, and our financial condition assessmentwas based in part on representations made by management and the review of financial information provided by same.

27

Cordoba Ranch Lake Management Report
lr?.11

Cordoba Esta tes

P""'

0

P�"'" '"�"	p	., 14� 1?>

.,..,

Map i.'i nut lo �rnlt:. !-:quuu: fon111w•/ncrcng<! i-how11 iH un!y an c-.tllornto.: rm,I 11dt1t1l !l11n11H' fonl11r,r./t1rr,:(l.tt<> will 1lllfor,  Huyt·1· 1>l11111hl ,dy un hi•I r1r hct'

uwn t'\'.-lt1.l\lo11 of 11St•;1hfo nrt'n, Depklion'l nf ho111es or ull1et· IC'alures ;1n• r.111�1 conccp!lnm.

STANDAR D PACIFIC HOMES

q	g

A	u a	e  n  i  X
y '.'J   (' '    L   ,   (1    1            d     ,'.,  �    ,  ! s

5/13/2019

The following report is for May to illustrate what has changed from April and what to expect through May and the coming months. The photos were taken on Wednesday 5-8-19
The ponds were treated on Wednesday 5-8-19 Thank you for your business!
Sincerely, Scott Croft Aquagenix

A q u a g e n i x
iJ ti n o q i 11 �I '{ <) J r l I q u : d ;\ s r' ! s

Pond #100

Date: 5/8/19
What we found: Water level is a little low.
What we did: Treated shoreline grasses and algae.
What to expect Pond ievei should increase in the next month with afternoon rains

Recommendations & Notes: LED lights are ordered for fountain 

Date: 5/8/19
What we found: Trace of algae and grasses

What we did: Treated for both
What to Expect: Both will die off

Notes: Water Levels down a bit

Pond #110

Page 1

Date: 5/8/19

What we found: Trace of algae and submersed.
What we did: Treated both
What to Expect: Algae and grasses to die off.

Pond #120

Recommendations & Notes: Grasses were treated a round Outfall

Date: 5/8/19
What we found: Trace of Algae and grasses.
What we did: Treated both What to Expect: Both will die off

Pond #125

Recommendations & Notes: Should put plants on littoral shelf during planting

Date: 5/8/19
What we found: Trace of Algae
What we did: Treated for it
What to expect Algae should d rop.

Date: 5/8/19
What we found: Light Algae, Spatterdock and light grasses
What we did: Thinned out Spatterdock and treated the algae and exposed grasses
What to expect: Algae and exposed grasses will die off and Spatterdock will thin out.

Recommendations & Notes: Will limit the plants on this pond.

Pond #126

Pond #130

Page 2

uate: ".,/H/ 1':l

What we found: Water level very l ow.
What we did: Treated exposed shoreline.
What to expect: Pond to fill with afternoon rains.

Recommendations & Notes: Some plants to be installed

t'Ona  ffl'l-.:SA

Date: 5/8/19
What we found: Very low water levels
What we Did: Treated exposed shoreline.
What to Expect: Water level to increase.

Recommendations & Notes: Some plants to be installed.

Pond #143B

Page 4

Date: 5/8/19
What we found: Reduced to a puddle at this point
What we did: Treated exposed shoreline
What to expect: Hopefully water level to increase with today's rain.

1-1ona ffl4b

Recommendations & Notes: Will put some plants in with planting that will be done

Date: 5/8/19
What we found: Some Algae. What we did: Treated the Algae
What to Expect: Algae to die off.

Pond #150

Recommendations & Notes: Blue or Black Dye still a good idea for this pond

Date: 5/8/19
What we found: Trace of grasses.
What we did: Treated for the Grasses.
What to Expect: Pond to look very good.

Recommendations & Notes: Will not plant this pond.

Pond #170

Date: 5/8/19
What we found: Algae and light grasses.
What we did: Treated for both
What to expect: Pond to continue to look good

Notes: We mayplant part of this pond

Pond #180

Page 6

Date: 5/8/19
What we found: Some Spikerush and algae
What we did: Treated for both
What to expect: Algae will die off

Notes: Slowly shaping up

Pond #185

Page 7

Date: 5-8-19

What we found: Pond in pretty good shape.

What we did: Treated exposed shoreline

What to expect: Should continue to look good.

Pond 190A

Recommendations & Notes: We will plant this accordingly. The Clubrush is doing very well in this pond.

Date: 5/8/19
What we found: Trace of Algae What we did: Treated it
What to Expect: Algae to die off.

Recommendations & Notes: Blue Dye would help this pond

Pond # 1908

Page s

Date: 5/8/19
What we found: Pond in good shape.
What we did: Treated exposed shoreline
What to expect: Hopefully pond to
fill.

Recommendations & Notes: This will get some plants.

Date: 5/8/19
What we found: Submersed and grasses
What we did: Treated the Grasses
What to expect : The Littorals need to be planted, but this would take up a very large amount of them.

Pond #200

Pond #210

Recommendations & Notes: We will pickand choose on the planting ofthis pond

Page 9

Date: 5/8/19
What we found: Very low water level.
What we did: Treated exposed shoreline.
What to expect: Pond to fill. 

Pond #220

Recommendations & Notes: We will plant the shelf in front of the outfall structure.

Date: 5/8/19
What we found: Low water level and exposed shoreline
What we did: Treated exposed shoreline
What to expect: Grasses to die off.

Pond #230

Recommendations & Notes: We will plant the Littoral shelf in front and around the outfall Structure

Page 10

Date: 5/8/19
What we found: Very low water levels
What we did: Treated exposed shoreline
What to expect: Pond to fill up with today's rains.

Pond #240A

Recommendations & Notes: May not plant this one. Will depend on plant supplies.

I Date: 5/8/19
What we found: Very low water levels.
What we did: Treated exposed shoreline
What to expect: Grasses to die and pond to look very good. 

Recommendations & Notes: Plants around the Outfall structure

Pond #240 B

Page 11

Date: 5/8/19
What we found: Trace of exposed grasses
What we did: Treated the exposed shoreline
What to expect: Grasses will die off.

Recommendations & Notes: Plant in front of Littoral Shelf

Date: 5/8/19
What we found: Light Grasses and Some Spatterdock
What we did: Treated for the grasses and spot treat the Spatterdock.
What to expect: Water level to hopefully improve

Recommendations & Notes: May plant a round the outfall structure

Pond #260

Pond #270A

Page 12

Date: 5/8/19
What we found: Treated Grasses
What we did: Treated for the grasses

What to expect: This is just a ditch.

Recommendations & Notes: Plant the entire shallow ditch

Date: 5/8/19
What we found: Trace of Algae
What we did: Treated it.
What to expect: Algae to die off.

Recommendations & Notes: Will plant pockets of plants on this pond.

Pond #270B

Pond #280

Page 13

Date: 5/8/19
What we found: Light Spikerush, algae and grasses.
What we did: Treated for all of the above.
What to Expect: Submersed, algae and grasses will die off.

Recommendations & Notes: Will plant around Outfall structure.

Date: 5/8/19

What we found: Trace of Algae and grasses.
What we did: Treated for both
What to Expect: Treated algae and exposed shoreline

Pond #290

Pond #300

Recommendations & Notes: Will plant if we have enough to get some in a round the outfa ll structure.

Page 14

Date: 5/8/19

What we found: Almost d ry
What we did: Treated all exposed pond and Littoral shelf bottom
What to expect: Hopefully after today1 s rain pond will fill up.

Recommendations & Notes: Plant around outfall structure.

Date: 5/8/19

What we found: Almost d ry
What we did: Treated all exposed pond and Littoral shelf bottom
What to expect: This is north of the gate. We will not plant this

Recommendations & Notes:

Pond #310

Pond #320

CORDOBA RANCH 
Community Development District

Annual Operating and Debt Service Budget
Fiscal Year 2020

V1 Proposed Budget 05.1 3.19 

IN FR AMARK 

Prepared by:

CORDOBA RANCH

Community Development District
Table of Contents

OPERATING BUDGET
General Fund
Summary of Revenues, Expenditures and Changes in Fund Balances .......... ............ ..... ....... .
Exhibit A - Allocation of Fund Balances .... .. .... ..... ...... ...... ......... ......... ... ..... ... ... ........... .... .. 
Budget Narrative ...... ........... .... ..... ................ ...... .. .............. .. ........ ............ ......... ........ .

DEBT SERVICE BUDGETS
Series 2006
Summary of Revenues, Expenditures and Changes in Fund Balances .. ........ ............ .. ... ... .... .
Amortization Schedule ............ ...... ... ..... ............ ......... ............ ............ ......... .... ........... .. 
Budget Narrative ......... .... .......... ................. ............. ....... .. ........................ .. ................. .

SUPPORTING BUDGET SCHEDULES
20i 9-2020 Non-Ad Valoieni Assessment Summary ....... ........... ... ... ................ .... ........ ............ .

Page#

1 -2

3
4-7

8
9
10 

1 1 

Cordoba Ranch
Community Development District

Operating Budget
Fiscal Year 2020

Community Development District

Summary of Revenues, Expenditures and Changes in Fund Balances
FY 2020 Proposed Budget

General Fund

ADOPTED      ACTUAL	PROJECTED	TOTAL		ANNUAL

Interest - Investments	$	269	$	12 	$	2,829	$	$	3,821	$	$	3,821	$	2,500	
Interest - Tax Collector		63	341		181 		181 		
Special Assmnts- Tax Collector	291,575	323,377	357,624	357,623	352,921	4,703	357,624	357,623	
Special Assmnts- COD Collected	128,587	119,389	135,126	135,125	135,125	1	135,126	135,125	
Special Assmnts- Discounts		(13,801)	(13,863)	(14,305)	(1 3,469)		(1 3,469)	(14,305)	
Gate Bar Code/Remotes			1,265	
	360		360		
TOTAL REVENUES	420,992	434,666	483,322	478,443	478,939	4,703	483,642	480,943 1	

ACCOUNT DESCRIPTION REVENUES

ACTUAL
FY 2016

ACTUAL	ACTUAL	BUDGET		THRU		MAY- FY 2017		FY 2018		FY 2019	APR-2019	SEP-2019

PROJECTED	BUDGET FY 2019		FY 2020

736

335

 	

947

EXPENDITURES

5,744

Administrative
P/R-Board of Supervisors		1,800	1 ,400	2,400	600	1,800	2,400	2 ,400	
ProfServ-Arbitrage Rebate	2,300			500		500	500	500	
ProfServ-Dissemination Agent	5,000		5,000	5,000	5,000	
	5,000	5, 000	
ProfServ-Engineering	8,488	7,360	4,143	7,500	3,250	4,250	7,500	7,500	
ProfServ-Legal Services	10,244	6,676		7,000	1 ,495	5,505	7,000	7, 000	
Pro!Serv-Mgmt Consulting Serv	20,721	23,500	45,320	46,500	27,125	19,375	46,500	46,500	
Pro!Serv-Special Assessment	5,000	5,000							
Pro!Serv-Trustee Fees	3,203	2,424	4,041	3,500	2,424		2,424	3,500	
Accounting Services	11 ,500	15,500							
Auditing Services	3,300	3,423	3,500	3,500		3,500	3,500	3,500	
Postage and Freight		1,1 04	942	1,uuu	335	665	1,000	1,000	
Public Officials Insurance	1,850	1 ,405	2,035	2,239		2,239	2,239	2,463	
Printing and Binding		965		600	347	253	600	600	
Legal Advertising	976	3,101 	1,006	3,500	988	2,512	3,500	3,500	
Misc-Assessmnt Collection Cost		4,693	1,774	7,1 52	6,789	363	7,152	7,152	
Misc-Web Hosting	770	835	750	900	525	375	900	900	
Annual District Filing Fee	175	200	200	1 75	1 75	
	175	175	
Total Administrative	86,627	77,986	76 591	91 ,466	49,053	41,337	90,390	91 ,690	
Other Public Safety
Contracts-Security Camera	
1,375	
1,490	
2,530	
2,500	
1 ,458	
1,041	
2,499	
2,500	
Contracts-Security Services	16,879	14,289	14,991	13,608	8,028	5,670	13,698	13,608	
Communication-Telephone	
	1,772	1,618	1,644	417 	1,227	1,644	2,000	
R&M-Gate		
	290	600	

	4,800	
Total OtherPublic Safety	18,589	17,551	19,429	18,352	9,903	7,938	17,841	22,908	
Electric Utility Services									
Utility - General	7,820	6,380	7,591	7,800	4,784	3,000	7,784	7,800	
[lectricity - Streetlighting	58,538	61 ,932	63,145	63,528	36,612	26,470	63,082	63,528	
Total Electric Utility Services	66,358	68,312	70,736	71 ,328	41,396	29,470	70,866	71 ,328	
Flood Control/Stormwater Mgmt									
Contracts-Aquatic Control	13,968	12,408	12,648	12,408	7,478	5,341	12,819	12,408	
R&M-Fountain	960	1,059	720	1,000		1,000	1,000	2,000	
R&M-Mitigation	15,455	9,350	11 ,680	11 ,460	5,950	4,250	10,200	11 ,460	
R&M Lake & Pond	9,750	3,600	5,494	6,675	2,528	1,806	4,334	10,000	
lmpr - Aquatic Plants	840	5,132	
	5,000		5,000	5,000	5,000	
Total Flood Control!Stormwater Mgmt	40,973	31,549	30,542	36,543	15,956	17,397		40,868	

AFinsncuaal Yl Oeaprer2a0t2in0g and Debt Service Budget									

Community Development District	General Fund

Summary of Revenues, Expenditures and Changes in Fund Balances
FY 2020 Proposed Budget

ADOPTED     ACTUAL	PROJECTED	TOTAL		ANNUAL

ACCOUNT DESCRIPTION
Field
Pro/Serv-Field Management

ACTUAL FY 2016

ACTUAL	ACTUAL	BUDGET		THRU		MAY·	PROJECTED	BUDGET FY 2017		FY 2018		FY 2019	APR-2019	SEP-2019		FY 2019		FY 2020

Contracts-Landscape	11 3,051	114,994	120,626	1 14,994	67,080	47,914	114,994	114,994	
Insurance - Property	1,434	1,434	1 ,488	1,735		1 ,735	1 ,735	1,909	
Insurance - General Liability	2,250	2,058	2,264	2,490		2,490	2,490	2,739	

4,000

200

2,000

2,000

2,000

 	24,940 

144,023	179,475	156,084	204,019	1 02,985

93,313

196,298

247,177

1,600
 	1,600	

R&M-lrrigation	2,566	8,806	1 ,543	9,000	4,950	3,536	8,486	9,000	
R&M-Pest Control		3,449	4,469	3,200	2,649	1 ,544	4,193	4,200	
R&M-Plant Replacement	20,722	9,774	8,681	15,000	7,500	7,500	15,000	
R&M-Well Maintenance		550		5,000		2,500	2,500	5,000	
R&M-Annuals	18,690	9,345	1 9,000	9,345	9,655	19,000	19,000	
R&M-Mulch	1 1 ,760		23,100	14,700	8,400	23,100	23,100	
Misc-Contingency	150						14,995	
Holiday Lighting & Decorations		2,200	2,500	2,500	2,500		2,500	2,500	
Op Supplies - Fertilizer	5,490	5,168	7,800	1,761	6,039	7,800	7,800	

R&M-Entry Feature

Capital Reserves
Total Field

Road and Street Facilities
Utility - Gatehouse

Pro/Serv-Wildlife Management Service	14,695	14,400	17,135	16,800	10,1 70	6,630	16,800	16,800	
Miscellaneous Services	4,365	27,479	4,205	14,995	3,681	2,629	6,310	7,500	
Total Parks and Recreation - General	19,060	41,879	21 ,340	31,795	13,851	9,259	23,1 10 	24,300	
Reserves									

Capital Reserves	24,940	
Total Reserves	 	24,940		

Total Road and Street Facilities Parks and Recreation - General

TOTAL EXPENDITURES & RESERVES	377,230	416,752	374,722	478,443	233,144	198,715	431,859	49s,211 I	
Excess (deficiency) of revenues Over (under) expenditures	
43,762	
17,914	
108,600		
245,795	
(194,012)	
282,707	
(1 7,328)	
OTHER FINANCING SOURCES (USES)
lnterfund Transfer - In
Contribution to (Use of) Fund Balance					
120,129		
120,129	

(1 7,328)	
TOTAL OTHER SOURCES (USES)					120,129		120,129	(17,328)1	
Net change in fund balance	43,762	17,914	1 08,600		365,924	(194,012)	402,836	(1 7,328)	
FUND BALANCE, BEGINNING	95,609	139,372	157,286	265,886	265,886		265,886	668,722	
FUND BALANCE, ENDING	$ 139,371	$ 157,286	$ 265,886	$ 265,886	$ 631,810	$ (194,012)	$	668,722	$	651 ,394	

Annual Operating and Debt Service Budget Fiscal Year 2020

2

CORDOBA RANCH

Community Development District
Exhibit "A"
Allocation of Fund Balances

AVAILABLE FUNDS

Beginning Fund Balance - Fiscal Year 2020	$	668,722	
Net Change in Fund Balance - Fiscal Year 2020	(1 7,328)	
Reserves - Fiscal Year 2020	24,940	

Amount

ITotal Funds Available (Estimated) - 9/30/2020
ALLOCATION OF AVAILABLE FUNDS

676,334 I

Assigned Fund Balance
Operating Reserve - First Quarter Operating Capital Reserve Previous years
Capital Reserve FY 2019

70,129
24,940

1 24,568 11)

Capital Reserve FY 2020

I Total Allocation of Available Funds Total Unassigned (undesignated) Cash

 	24,940	120,009 

Subtotal 	-'--

244,577

244,577  I

$	431 ,757

Notes
(1) Represents approximately 3 months of operating expenditures

Annual Operating and Debt Service Budget
Fiscal Year 2020	3

Budget Narrative
Fiscal Year 2020

IREVENUES

Interest-Investments
The District earns interest on the monthly average collected balance for their operating account.
Special Assessments-Tax Collector
The District will levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the Fiscal Year.
Special Assessments-Discounts
Per Section 1 97. 162, Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments.
Other Miscellaneous Revenue
The District receives other miscellaneous revenue.
Gate Bar Code/Remotes
The District receives amounts for gate bar codes and gate remotes that operate the gates of the District.

I EXPENDITURES

Administrative
P/R-Board of Supervisors
Chapter 1 90 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting at which they are in attendance. The amount for the Fiscal Year is based upon all supervisors attending all of the meetings.
Professional Services - Arbitrage Rebate Calculation
The District has a proposal with a company who specializes to calculate the District's Arbitrage Rebate Liability on the Series of Benefit Special Assessment Bonds. The budgeted amount for the fiscal year is based on standard fees charged for this service.
Professional Services - Dissemination Agent
The District is required by the Securities and Exchange Commission to comply with Rule 1 5c2-12(b)-(5), which relates to additional reporting requirements for unrelated bond issues. The budgeted amount for the fiscal year is based on standard fees charged for this service.

Professional Services-Engineering
The District's engineer provides general engineering services to the District, i.e. attendance and preparation for monthly board meetings when requested, review of invoices, and other specifically requested assignments.
Professional Services-Legal Services
The District's Attorney provides general legal services to the District, i.e. , attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research as directed or requested by the Board of Supervisors and the District Manager.

Annual Operating and Debt Service Budgets
Fiscal Year 2020	4

Budget Narrative
Fiscal Year 2020

I      EXPENDITURES	

Administrative (continued)
Professional Services-Management Consulting Services
The District receives Management, Field Services, Accounting, Assessment and Administrative services as part of a Management Agreement with lnframark - I nfrastructure Management Services. Also included are costs for Information Technology charges to process all of the District's financial activities, i.e. accounts payable, financial statements, budgets, etc., on a main frame computer owned by lnframark in accordance with the management contract and the charge for rentals.

Professional Services - Trustee Fees
The District issued this Series of 2013 Capital Improvement Revenue Bonds that are deposited with a Trustee to handle all trustee matters. The annual trustee fee is based on standard fees charged plus any out-of-pocket expenses.

Auditing Services
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on the engagement letter from Grau not to exceed $3,500.

Postage and Freight
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other

t,;01 I t'::SfJUI 1dt'1 ll,t'.

Public Official Insurance
The District's Public Officials Liability Insurance policy is with Florida Insurance Alliance Inc. They specialize in providing insurance coverage to governmental agencies. The budgeted amount allows for a projected increase in the premium.

Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.

Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.

Miscellaneous-Assessment Collection Costs
The District reimburses the Pasco County Tax Collector for her or his necessary administrative costs. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District also compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted, whichever is greater. The fiscal year budget for collection costs is based on a maximum of 2% of the anticipated Non-Ad Valorem assessment collections.

Miscellaneous-Web Hosting
The District is mandated to post on the internet the approved and adopted budgets, minutes and audits per State requirements.

Annual District Filing Fee
The District is required to pay an annual fee of $1 75 to the Department of Community Affairs.

Annual Operating and Debt Service Budgets
Fiscal Year 2020	5

Budget Narrative
Fiscal Year 2020

I EXPENDITURES
Other Public Safety

Contracts- Security Camera
The District has a contract with Envera Systems Inc. for monitoring the security cameras and maintenance.
Contracts- Security Service
The District has a contract with Envera Systems Inc. for monitoring the security access and additional patrol by the Sheriffs Office on an as needed basis.
Communication-Telephone
This is for the gate telephone usage by the District with Fronteir.
R&M-Gate
This includes the repairs and maintenance of the Districts Gate.

Electric Utility Services Utility-General
This is for the electric utility services for the irrigation timers, lift station pumps, fountains, etc.
Electricity-Street!ighting
This is for the electric for the streetlights.
Flood Control/ Stormwater Management Contracts-Aquatic Control
The District has a contract for the monthly care and maintenance of the lakes and ponds with Aquagenix for $1,034 per month.

R&M-Fountain
This is for the repairs and maintenance of the fountains throughout the Parks and Recreational areas.
R&M-Mitigation
This is for monitoring the water level and vegetation of the lakes and wetland of the District.
R&M-Lake & Pond
This is for any maintenance required for the lakes and Ponds of the District.
lmpr - Aquatic Plants
This is for any improvement required for the aquatic plants of the District.

Contracts-Landscape
The District currently has a contract with Vivicon for landscaping that includes general mowing, edging and maintenance with a monthly fee $9,582.84.

Annual Operating and Debt Service Budgets

Fiscal Year 2020

Budget Narrative
Fiscal Year 2020

I EXPENDITURES

Insurance - Property
This is for the property insurance for the items owned by the District.
Insurance - General Liability
This is for the general liability insurance for the items owned by the District.
R&M-Entry Feature
This is for the repairs and maintenance of the entry monuments and fencing.
R&M-lrrigation
This is for the repairs and maintenance of the irrigation system of the District.
R&M-Pest Control
This is for pest control and ant treatments in the District.
R&M-Plant Replacement
This is for the landscape replacement including turf, trees, shrubs, etc. around the District.
R&M-Well Maintenance
This is for well maintenance throughout the District.
R&M-Annuals
This is for the installation of the annual flowers around the District.
R&M-Mulch
This is for mulch installation throughout the District.
Miscellaneous-Contingency
This is for any miscellaneous fees or services that may arise around the District.
Holiday Lighting & Decorations
This is for the decorations that will be displayed around the District during the Holidays.
Op Supplies - Fertilizer
This includes fertilizer and miscellaneous supplies needed for the District.
Parks and Recreation
ProfServ-Wildlife Management Service
Hog removal services by Jerry Richardson for $1 ,400 per month.
Reserves Capital Reserves
This is capital reserves for any expenses that may arise around the District.

Annual Operating and Debt Service Budgets

Fiscal Year 2020

Cordoba Ranch
Community Development District

Debt Service Budget
Fiscal Year 2020

Summary of Revenues, Expenditures and Changes in Fund Balances FY 2020 Proposed Budget

ADOPTED        ACTUAL	PROJECTED		TOTAL		ANNUAL ACTUAL	ACTUAL	ACTUAL	BUDGET	THRU		MAY-	PROJECTED		BUDGET	
 	ACCOUNT DESCRIPTION		FY 2016	FY 2017	FY 2018	FY 2019	APR-2019 	SEP-2019	FY 2019	FY 2020	
REVENUES									
Interest - Investments
Special Assmnts- Tax Collector Special Assmnts- CDD Collected	$
428,355
172,182	$	1,020
455,714
172,182	$	1,508
455,698
172, 1 82	$	350
455,697
172,182	$	806
449,707
172,182	$
$	5,990
$	$	1,262 $
455,697
172,182	350
455,697
172,182	
Special Assmnts- Discounts		(1 7,567)	(1 7,665)	(18,228)	(i7,i 62j	$	(1,066)	(18,228)	(18,228)	
TOTAL REVENUES	600,889	611 ,349	611 ,723	610,001	606,533	5,380	610,913	s10,001 1

EXPENDITURES
Administrative									
Misc-Assessmnt Collection Cost	5,993	8,763	9,1 14 	8,651	$	110 	8,761	9, 114 	
Total Administrative	5,993	8,763	9,1 14 	8,651	110 	8,761	9,114	

Debt Service									
Principal Debt Retirement	180,000	190,000	205,000	21 5,000	21 0,000	210,000	220,000	
Principal Prepayments					200,000		200,000		
Interest Expense	421,523	411 ,533	400,988	389,610 	1 94,805	189,255	384,060	366,855	
Total Debt Service	601,523	601,533	605,988	604,610	394,805	399,255	794,060	586,855	
TOTAL EXPENDITURES	601,523	607,526	614,751	613,724	403,456	399,365	802,821	595,969 1	

Excess (deficiency) of revenues Over (under) expenditures

lnterfund Transfer - In

2,224

OTHER FINANCING SOURCES (USES}

(634)

3,823	(3,028)	(3,723)

202,077	(393,985)	(191,908)	14,032

Annual Operating and Debt Service Budget Fiscal Year 2020

8

Contribution to (Use of) Fund Balance		3,823		(3,723)				14,032	
TOTAL OTHER SOURCES !USESj		3,823	2,224	(3,723)				14,032 I	
Net change in fund balance		3,823	(804)	(3,723)	202,077	(393,985)	(191 ,908j	14,032	
FUND BALANCE, BEGINNING	619,104	61 8,471	622,295	621,491	621,491		621,491	429,583	
FUND BALANCE, ENDING	$ 618,470	$ 622,294	$ 621,491	$ 617,768	$ 823,568	$ !393,985)	$ 429,583	$ 443,615	

Outstanding
Date	Balance

11 /1 /2019	$6,61 0,000
5/1/2020	$6,61 0,000
11 /1 /2020	$6,390,000
5/1/2021	$6,390,000
11 /1 /2021	$6,155,000
5/1/2022	$6,1 55,000
11 /1 /2022	$5,91 0,000
511/2023	$5,91 0,000
11 11/2023	$5,650,000
511/2024	$5,650,000
11 11 /2024	$5,375,000
5/112025	$5,375,000
11 /1 /2025	$5,085,000
5/1/2026	$5,085,000
1 1 /1 /2026	$4,780,000
5/1/2027	$4,780,000
11/1 /2027	$4,455,000
5/1/2028	$4,455,000
11 /1 /2028	$4,11 0,000
5/1/2029	$4, 1 1 0,000
1 1 /1 /2029	$3,750,000
5/1/2030	$3,750,000
11 /1 /2030	$3,370,000
5/1/2031	$3,370,000
1 1 /1 /2031	$2,965,000
5/1/2032	$2,965,000
11 /1 /2032	$2,535,000
5/1/2033	$2,535,000
1 1 /1 /2033	$2,080,000
5/1 /2034	$2,080,000
11 /1/2034	$1 ,605,000
5/1/2035	$1 ,605,000
11 /1 /2035	$1,100,000
5/1/2036	$1,100, 000
1 1 /1/2036	$565,000
5/1/2037	$565,000

AMORTIZATION SCHEDULE
Capital Improvement Revenue Bonds

Extraordinary
Principal	Redemption	Coupon

5.55%
$220,000	5.55%
5.55%
$235,000	5.55%
5.55%
$245,000	5.55%
5.55%
$260,000	5.55%
5.55%
$275,000	5.55%
5.55%
$290,000	5.55%
5.55%
$305,000	5.55%
5.55%
$325,000	5.55%
5.55%
$345,000	5.55%
5.55%
$360,000	5.55%
5.55%
$380,000	5.55%
5.55%
$405,000	5.55%
5.55%
$430,000	5.55%
5.55%
$455,000	5.55%
5.55%
$475,000	5.55%
5.55%
$505,000	5.55%
5.55%
$535,000	5.55%
5.55%
$565,000	5.55%

$6,61 0,000

Annual
Debt	Debt
Interest	Service	Service

$1 83,428	$1 83,428
$1 83,428	$403,428	$586, 855
$1 77,323	$1 77,323
$1 77,323	$412,323	$589,645
$1 70, 801	$1 70,801
$1 70,801	$41 5,801	$586,603
$1 64,003	$1 64,003
$1 64,003	$424,003	$588,005
$1 56,788	$1 56,788
$1 56,788	$431 ,788	$588,575
$149, 156	$1 49, 1 56
$1 49, 1 56	$439,1 56	$588,31 3
$141 ,1 09	$141,1 09
$141 ,1 09	$446, 1 09	$587,21 8
$1 32,645	$1 32,645
$1 32,645	$457,645	$590,290
$1 23,626	$1 23,626
$1 23,626	$468,626	$592,253
$11 4,053	$11 4,053
$11 4,053	$474,053	$588, 1 05
$1 04,063	$1 04,063
$1 04, 063	$484,063	$588, 1 25
$93, 518	$93, 518 
$93,518	$498,51 8	$592,035
$82,279	$82,279
$82,279	$51 2,279	$594,558
$70, 346	$70,346
$70, 346	$525,346	$595,693
$57,720	$57,720
$57,720	$532,720	$590,440
$44,539	$44,539
$44,539	$549,539	$594,078
$30,525	$30,525
$30,525	$565,525	$596,050
$1 5,679	$1 5,679
$1 5,679	$580,679	$596,358

$4,023,1 95	$1 0,633,1 95	$1 0,633,195

Annual Operating and Debt Service Budget
Fiscal Year 2020	9

Community Development District	2006 Debt Service Fund

Budget Narrative
Fiscal Year 2020
I  REVENUES	
Interest-Investments
The District earns interest income on its trust accounts with US Bank.
Special Assessments-Tax Collector
The District will levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the debt service expenditures during the fiscal year.
Special Assessments-Discou nts
Per Section 1 97. 162, Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments.

I  EXPENDITURES	
I Expenditures - Administrative

M iscellaneous-Assessment Collection Cost
The District reimburses the St. Johns County Tax Collector for necessary administrative costs. Per the Florida Statutes, administrative costs shall include,  but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and prog ramming. The District compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted, whichever is greater. The fiscal year budget is based on a maximum of 2% of the anticipated assessment collections.

I Expenditures - Debt Service

Debt Retirement
The District pays regular principal payments annually in order to pay down/retire the debt.
Interest Expense
The District pays interest expense on the debt twice during the year.

An nual Operating and Debt Service Budgets
Fiscal Year 2020	10 

Cordoba Ranch
Commun ity Development District

Su pporti ng Budget Schedules
Fiscal Year 2020

CORDOBA RANCH

Community Development District

Comparison of Non-Ad Valorem Assessment Rates Fiscal Year 2020 vs. Fiscal Year 201 9

All Funds

General Fund

FY 2020

FY 201 9	Change

Percent

Debt Service
FY 2020	FY 2019
$2,233.81	$2,233.81 

Change
0.0%

Percent

Total Assessments eer Unit

prepaid lots

FY 2020

FY 2019 

$3,986.86 $3,986.86

Change
0.0%

Percent

Units

$1 ,753.05 $1 ,753.05 0.00%

,

286

0

Annual Operating and Debt Service Budget
Fiscal Year 2020	11 

RESOLUTION 2019-3

THEREON PURSUANT TO FLORIDA LAW

DIST ICT APPROVING THE BUDGET FOR FISCAL

ATHREESCOOLRUDTOIBOAN RAOFNTCHHE CBOOMAMRDUNOIFTYS UDPEEVREVLIOSOPRMSENOTF YEAR	2020	AND	SETTING	A	PUBLIC	HEARING

set the required public hearing thereon;

proposeWd oHpEeRraEtiAngS,atnhde/oDrisdterbict tsMervanicaegberudhgasethfeorretFoifsocrael pYreaprar2e0d2a0n; da scuobpmy iotftewdhtoicthhiesBaottacdhead hereto, WandHEREAS, the Board of Supervisors has considered said proposed budget and desires to

COMMUNITY DEVELOPMENT DISTRICT;

NOOF W,STUHPERVEIFSOORRES BEOIFT  RTEHSEOLVCEODRBDYOBTAHE  RBOAANRCHD
approv1 e. d asTthhee bbausdigs eftorpcroonpdouscetdingbya pthuebliDc ihsetraircitngMtoanaadgoeprt sfaoird bFuisdcgael t. Year  2020  is  hereby date, h2o. ur aAndppulbalcice:hearing on said approved budget is hereby declared and set for the following

Date: Hour: Place:

August 27, 20 19 
9:30 a.m.

Lutz, Florida

u

2C5o1rd6oCboarRdoabnachRManocdheBl Couelnetvearrd

Notice ofthis public hearing shall be published in the manner prescribed in Florida Law.

---+--1'---+-'=11 �-�P"--'0-----

Adopted this 28th day of May, 2019.
KChealwly Eva�,U,t_� ___ ASenctlrrewetaryP. Mendenhall 

CORDOBA RANCH
Community Development District

Annual Operating and Debt Service Budget
Fiscal Year 2020

Approved Tentative Budget
05.28. 19 

IN F RA MARK 

Prepared by:

CORDOBA RANCH

Community Development District
Table of Contents

OPERATING BUDGET
General Fund
Summary of Revenues, Expenditures and Changes in Fund Balances .... ..... ......................... .
Exhibit A- Allocation of Fund Balances ... ... ... ..................... ... ..... . ... ... ............. .. ... ... ... ... .. . .
Budget Narrative .......... ..... ... .. .. ................... .. ... ..................... .... ..... ... .. ... .. ......... ......... .

DEBT SERVICE BUDGETS
Series 2006
Summary of Revenues, Expenditures and Changes in Fund Balances .... .. ....... .. ... ... ..... ..... .. .. 
Amortization Schedule ...... .................. ....... ..... ... ... ........ . ..... .............. .. ......................... .
Budget Narrative .. ..... ... ...... ... ........ ........ ........ ... ... ........... ..... ... .... .. .. ............................ .. 

SUPPORTING BUDGET SCHEDULES
20'19-2020 Non-Ad Vaiorem Assessment Summary ... ... ... ........ .... .............. ........ .. ... ... ............ .. 

Page #

1 -2
3
4-7

8
9
10 

11 

Cordoba Ranch
Community Development District

Operating Budget
Fiscal Year 2020

Community Development District

Summary of Revenues, Expenditures and Changes in Fund Balances
FY 2020 Approved Tentative Budget

General Fund

ADOPTED    ACTUAL	PROJECTED	TOTAL		ANNUAL

ACCOUNT DESCRIPTION

ACTUAL
FY 2016

ACTUAL	ACTUAL	BUDGET		THRU		MAY- FY 2017		FY 2018		FY 2019	APR-2019	SEP-2019

PROJECTED
FY 2019 

BUDGET FY 2020

REVENUES
Interest - Investments	$
Interest - Tax Collector
Special Assmnts- Tax Collector Special Assmnts- CDD Collected

TOTAL REVENUES

420,992

434,666

483,322

478,443

478,939

4,703

483,642

480,943 1

Special Assmnts- Discounts Gate Bar Code/Remotes

269

291 ,575
128,587

$	12   $	2,829     $	$	3,821    $	$

63	341	181 
323,377	357,624	357,623	352,921	4,703
119,389	135,126	135, 125	135, 1 25	1
(13,801)	(13,863)	(14,305)	(13,469)

947	1 ,265	360

3,821
181 
357,624
135,126
(1 3,469)
360

$	2,500

357,623
135,125
(14,305)

EXPENDITURES

P/R-Board of Supervisors		1,800	1,400	2,400	600	
Pro!Serv-Arbitrage Rebate	2,300		
	500	
	
Pro!Serv-Dissemination Agent	5,000		5,000	5,000	5,000	

Administrative

1,800	2,400		
500	500		

	5,000		

2,400

500

5,000

Pro!Serv-Engineering	8,488	7,360	4,143	7,500	3,250	4,250	7,500	7,500	
Pro!Serv-Legal Services	10,244	6,676	5,744	7,000	1,495	5,505	7,000	7,000	
ProfServ-Mgmt Consulting Serv	20,721	23,500	45,320	46,500	27,125	19,375	46,500	46,500	
Pro!Serv-Special Assessment	5,000	5,000							
ProfServ-Trustee Fees	3,203	2,424	4,041	3,500	2,424		2,424	3,500	
Accounting Services	11 ,500	15,500							
Auditing Services	3,300	3,423	3,500	3,500		3,500	3,500	3,500	
Postage and Freight		1, 1 04	942	1,000	335	665	11 ,nvnvnv	1,000	
Public Officials Insurance	1,850	1 ,405	2,035	2,239	2,239	2,239	2,463	
Printing and Binding		965	736	600		253	600	600	
Legal Advertising	976	3,101 	1 ,006	3,500	988	2,512	3,500	3,500	
Misc-Assessmnt Collection Cost	4,693	1,774	7,152	6,789		7,152	7, 1 52	
Misc-Web Hosting	770	835	900	525	900	900	
Annual District Filing Fee	175	200	200	175	1 75	
	175	1 75	
Total Administrative	86,627	77,986	76,591	91 ,466	49,053	41,337	90,390	91,690	

347

Other Public Safety
Contracts-Security Camera	1,375	1 ,490	2,530	2,500	1 ,458	1 ,041	2,499	2,500	
Contracts-Security Services	16,879	14,289	14,991	13,608	8,028	5,670	13,698	13,608	
Communication-Telephone	
	1,772	1,618 	1,644	417 	1,227	1,644	2,000	
R&M-Gate		
	290	600	

	4,800	
Total Other Public Safety	18,589	17,551	19,429	18,352	9,903	7,938	17,841	22,908	

Electric Utility Services									
Utility • General	7,820	6,380	7,591	7,800	4,784	3,000	7,784	7,800	
Electricity - Streetlighting	58,538	61 ,932	63,145	63,528	36,612	26,470	63,082	63,528	
Total Electric Utility Services	66,358	68,312	70,736	71 ,328	41 ,396	29,470	70,866	71,328	

Flood Control/Stormwater Mgmt
Contracts-Aquatic Control	
13,968	
12,408	
12,648	
12,408	
7,478	
5,341	
12,819 	
1 2,408	
R&M-Fountain	960	1 ,059	720	1 ,000		1 ,000	1 ,000	2,000	
R&M-Mitigation	15,455	9,350	11 ,680	1 1 ,460	5,950	4,250	10,200	11 ,460	
R&M Lake & Pond	9,750	3,600	5,494	6,675	2,528	1 ,806	4,334	10,000	
lmpr - Aquatic Plants	840	5,132	
	5,000		5,000	5,000	5,000	
Total Flood Control/Stormwater Mgmt	40,973	31 ,549	30,542	36,543	15,956	17,397		40,868	

Annual Operating and Debt Service Budget Fiscal Year 2020

Community Development District

Summary of Revenues, Expenditures and Changes in Fund Balances
FY 2020 Approved Tentative Budget

General Fund

ADOPTED    ACTUAL	PROJECTED	TOTAL		ANNUAL

ACCOUNT DESCRIPTION
Field

Contracts-Landscape	113,051	114,994	1 20,626	1 14,994	67,080	47,914	1 14,994	114,994	
Insurance - Property	1,434	1,434	1,488	1,735		1,735	1,735	1,909	
Insurance - General Liability	2,250	2,058	2,264	2,490		2,490	2,490	2,739	
R&M-Entry Feature				200		2,000	2,000	2,000	
R&M-lrrigation	2,566	8,806	1,543	9,000	4,950	3,536	8,486	9,000	
R&M-Pest Control	4,469	3,200	2,649	1,544	4,193	4,200	
R&M-Plant Replacement	20,722	9,774	8,681	15,000	7,500	7,500	1 5,000	
R&M-Well Maintenance	550	5,000	2,500	2,500	5,000	
R&M-Annuals	18,690	9,345	19,000	9,345	9,655	19,000	1 9,000	
R&M-Mulch	11 ,760		23,100	14,700	8,400	23,100	23,100	
Misc-Contingency	150						14,995	
Holiday Lighting & Decorations		2,200	2,500	2,500	2,500		2,500	2,500	
Op Supplies - Fertilizer	5,490	5,168	7,800	1,761	6,039	7,800	7,800	

ProfServ-Field Management

FY 2016

FY 2017	FY 2018	FY 2019	APR-2019	SEP-2019

FY 2019	FY 2020

4,000

 	24,940 

1 44,023	179,475	156,084	204,019	102,985

93,313

196,298

247,177

1 ,600
 	1,600	

Capital Reserves
Total Field

Road and Street Facilities
Utility - Gatehouse

Pro!Serv-Wildlife Management Service	14,695	14,400	17,135	16,800	10,170	6,630	16,800	16,800	
Miscellaneous Services	4,365	27,479	4,205	14,995	3,681	2,629	6,310	7,500	
Total Parks and Recreation - General	19,060	41,879	21 ,340	31,795	13,851	9,259	23,110	24,300	

ReseNes									

Total Roadand Street Facilities Parks and Recreation - General

Capital Reserves	24,940	
Total ReseNes	 	24,940		
TOTAL EXPENDITURES & RESERVES	377,230	416,752	374,722	478,443	233,144	198,715	431,859	490,211 I	
Excess (deficiency) of revenues Over (under) expenditures	
43,762	
17,914 	
108,600	
245,795	
(194,012)	
282,707	
(17,328)	
OTHER FINANCING SOURCES (USES)								
lnterfund Transfer - In
Contributionto (Use of) Fund Balance					120,129		120,129	
(1 7,328)	
TOTAL OTHER SOURCES !USES)					1 20,129		120,129	!17,328!1	
Net change in fund balance	43,762	17,914	108,600		365,924	(194,012)	402,836	(17,328)	
FUND BALANCE, BEGINNING	95,609	1 39,372	157,286	265,886	265,886		265,886	668,722	
FUND BALANCE, ENDING	$ 139,371	$ 157,286	$ 265,886	$ 265,886	$ 631,810	$ !194,012!	$	668,722	$	651,394	

Annual Operating and Debt Service Budget
Fiscal Year 2020	2

CORDOBA RANCH

Community Development District
Exhibit "A"
Allocation of Fund Balances

AVAILABLE FUNDS		

Beginning Fund Balance - Fiscal Year 2020	Amount
$	668,722	
Net Change in Fund Balance - Fiscal Year 2020	(1 7,328)	
Reserves - Fiscal Year 2020	24,940	

!Total Funds Available (Estimated) - 9/30/2020

ALLOCATION OF AVAILABLE FUNDS

676,334 I

Assigned Fund Balance
Operating Reserve - First Quarter Operating Capital Reserve Previous years
Capital Reserve FY 201 9

70,129
24,940

1 24,568 111

Capital Reserve FY 2020

I Total Allocation of Available Funds Total Unassigned (undesignated) Cash

 	24,940	1 20,009 

Subtotal  _ 	_.;;:;2..;,...• 4-'-''-'--5_""77_

244,577  I

$	431 ,757

Annual Operating and Debt Service Budget Fiscal Year 2020

3

Notes
(1 ) Represents approximately 3 months of operating expenditures

Budget Narrative

IREVENU ES

Fiscal Year 2020
Interest-Investments
The District earns interest on the monthly average collected balance fortheir operating account.
Special Assessments-Tax Collector
The District will levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the Fiscal Year.
Special Assessments-Discounts
Per Section 1 97. 162, Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments.
Other Miscellaneous Revenue
The District receives other miscellaneous revenue.
Gate Bar Code/Remotes

I EXPENDITURES

The District receives amounts for gate bar codes and gate remotes that operate the gates of the District.

Administrative
P/R..Board of Supervisors
Chapter 1 90 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting at which they are in attendance. The amount for the Fiscal Year is based upon all supervisors attending all of the meetings.
Professional Services - Arbitrage Rebate Calculation
The District has a proposal with a company who specializes to calculate the District's Arbitrage Rebate Liability on the Series of Benefit Special Assessment Bonds. The budgeted amountfor the fiscal year is based on standard fees charged for this service.
Professional Services - Dissemination Agent
The District is required by the Securities and Exchange Commission to comply with Rule 1 5c2-1 2(b)-(5), which relates to additional reporting requirements for unrelated bond issues. The budgeted amount for the fiscal year is based on standard fees charged for this service.
Professional Services-Engineering
The District's engineer provides general engineering services to the District, i.e. attendance and preparation for monthly board meetings when requested, review of invoices, and other specifically requested assignments.
Professional Services-Legal Services
The District's Attorney provides general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research as directed or requested by the Board of Supervisors and the District Manager.

Annual Operating and Debt Service Budgets

Fiscal Year 2020

4

Budget Narrative
Fiscal Year 2020

I EXPENDITURES	

Administrative (continued)
Professional Services-Management Consulting Services
The District receives Management, Field Services, Accounting, Assessment and Administrative services as part of a Management Agreement with lnframark - Infrastructure Management Services. Also included are costs for Information Technology charges to process all of the District's financial activities, i.e. accounts payable, financial statements, budgets, etc. , on a main frame computer owned by lnframark in accordance with the management contract and the charge for rentals.
Professional Services - Trustee Fees
The District issued this Series of 2013 Capital I mprovement Revenue Bonds that are deposited with a Trustee to handle all trustee matters. The annual trustee fee is based on standard fees charged plus any out-of-pocket expenses.
Auditing Services
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm.  The budgeted amount for the fiscal year is based on the engagement letter from Grau not to exceed $3,500.
Postage and Freight

Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other
VUI I C.:tt,JUI 1dvnvv.
Public Official Insurance
The District's Public Officials Liability Insurance policy is with Florida Insurance Alliance Inc. They specialize in providing insurance coverage to governmental agencies. The budgeted amount allows for a projected increase in the premium.
Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.
Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation. 
Miscellaneous-Assessment Collection Costs
The District reimburses the Pasco County Tax Collector for her or his necessary administrative costs. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District also compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted , whichever is greater. The fiscal year budget for collection costs is based on a maximum of 2% of the anticipated Non-Ad Valorem assessment collections.
Miscellaneous-Web Hosting
The District is mandated to post on the internet the approved and adopted budgets, minutes and audits per State requirements.
Annual District Filing Fee
The District is required to pay an annual fee of $175 to the Department of Community Affairs.

Annual Operating and Debt Service Budgets Fiscal Year 2020

5

Budget Narrative
Fiscal Year 2020

I EXPENDITURES

Other Public Safety
Contracts- Security Camera
The District has a contract with Envera Systems Inc. for monitoring the security cameras and maintenance.
Contracts- Security Service
The District has a contract with Envera Systems Inc. for monitoring the security access and additional patrol by the Sheriffs Office on an as needed basis.
Communication-Telephone
This is for the gate telephone usage by the District with Fronteir.
R&M-Gate
This includes the repairs and maintenance of the Districts Gate.

Electric Utility Services Utility-General
This is for the electric utility services for the irrigation timers, lift station pumps, fountains, etc.
Electricity-Streetlighting
This is for the electric for the streetlights.

$

Flood Control/ Stormwater Management Contracts-Aquatic Control
The District has a contract for the monthly care and maintenance of the lakes and ponds with Aquagenix for 1 ,034 per month.
R&M-Fountain
This is forthe repairs and maintenance of the fountains throughout the Parks and Recreational areas.
R&M-Mitigation
This is for monitoring the water level and vegetation of the lakes and wetland of the District.
R&M-Lake & Pond
This is for any maintenance required for the lakes and Ponds of the District.
lmpr - Aquatic Plants
This is for any improvement required for the aquatic plants of the District.

Contracts-Landscape
The District currently has a contract with Vivicon for landscaping that includes general mowing, edging and maintenance with a monthly fee $9,582.84.

Annual Operating and Debt Service Budgets

Fiscal Year 2020

Budget Narrative
Fiscal Year 2020

I EXPENDITURES

Insurance - Property
This is for the property insurance for the items owned by the District.

Insurance - General Liabil ity
This is for the general liability insurance for the items owned by the District.

R&M-Entry Feature
This is forthe repairs and maintenance ofthe entry monuments and fencing.
R&M-lrrigation
This is for the repairs and maintenance ofthe irrigation system of the District.
R&M-Pest Control
This is for pest control and ant treatments in the District.
R&M-Plant Replacement
This is for the landscape replacement including turf, trees, shrubs, etc. around the District.
R&M-Well Maintenance
This is for well maintenance throughout the District.
R&M-Annuals
This is for the installation of the annual flowers around the District.
R&M-Mulch
This is for mulch installation throughout the District.
Miscellaneous-Contingency
This is for any miscellaneous fees or services that may arise around the District.
Holiday Lighting & Decorations
This is for the decorations that will be displayed around the District during the Holidays.

Op Supplies - Fertilizer
This includes fertilizer and miscellan eous supplies needed for the District.
Parks and Recreation

ProfServ-Wildlife Management Service
Hog removal services by Jerry Richardson for $ 1,400 per month.

Reserves

Capital Reserves
This is capital reserves for any expenses that may arise around the District.

Annual Operating and Debt Service Budgets

Fiscal Year 2020

Cordoba Ranch
Community Development District

Debt Service Budget
Fiscal Year 2020

Summary of Revenues, Expenditures and Changes in Fund Balances FY 2020 Approved Tentative Budget

 	ACCOUNT DESCRIPTION	 REVENUES
Interest - Investments
Special Assmnts- Tax Collector

ACTUAL FY 2016

$	352 $
428,355

ADOPTED ACTUAL	ACTUAL	BUDGET FY2017	FY 2018	FY 2019

1,020   $	1,508   $	350
455,714	455,698	455,697

      ACTUAL	PROJECTED		TOTAL		ANNUAL THRU		MAY-	PROJECTED		BUDGET APR-2019		SEP-2019		FY 2019			FY 2020

$	806    $	456    $	1,262   $	350

$

449,707    $	5,990	455,697	455,697

Special Assmnts- CDD Collected

1 72, 1 82

172, 1 82	1 72, 1 82	172,182

172, 1 82

172,182	172,1 82

Special Assmnts- Discounts	
	(17,567)	(17,665)	(18,228)	(17,162)	$	(1 ,066)	(1 8,228)	(18,228)	
TOTAL REVENUES	600,889	611,349	611 ,723	610,001	605,533	5,380	610,913	s10,001 I	

EXPENDITURES

5,993

Administrative
MiscAssessmnt Collection Cost		8,763	9,1 14 	8,651	$	110 	8,761	9,114 	
Total Adm;nistrative	5,993	8,763	9,114	8,651	110 	8,761	9,114 	
Debt Service
Principal Debt Retirement	
180,000	
190,000	
205,000	
215,000	210,000	210,000	220,000	
Pnnc1pal Prepayments
Interest Expense	
421, 523	
41 1 ,533	
400,988	
389.610	200,000
1 94,805	
1 89,255	200,000
384,060	
366,855	
Total Debt Service	601,523	601,533	605,988	604,610	394,805	399,255	794,060	586,855	
TOTAL EXPENDITURES	601,523	607,526	614,761	613,724	403,456	399,365	802,821	595,969 1	

Excess (deficiency) of revenues Over (under) expenditures

lnterfund Transfer - In

2,224

1 4,032 1

OTHER FINANCING SOURCES (USES)

(634)

3,823	(3,028)

202,077	(393,985)	(191 ,908)	14,032

Contribution to (Use of) Fund Balance	3,823		(3,723)	14,032	
TOTAL OTHER SOURCES !USES)	3,823	2,224	(3,723)	
Net change in fund balance	(634)	3,823	(804)	(3,723)	202,077	(393,985)	(191,908)	14,032	
FUND BALANCE, BEGINNING	619,104	618,471	622,295	621,491	621,491		621,491	429,583	
FUND BALANCE, ENDING	$ 61 8,470	$ 622,294	$ 621,491	$ 617,768	$ 823,568	$ (393,985)	$ 429,583	$ 443,615	

Annual Operating and Debt Service Budget
Fiscal Year 2020	8

AMORTIZATION SCHEDULE
Capital  Improvement Revenue Bonds

Date

Outstanding
Balance

Principal

Extraordinary
Redemption

Coupon

Interest

Debt
Service

Annual
Debt Service

11 /1 /20 19	$6,61 0,000
5/1 /2020	$6, 61 0,000
11 /1/2020	$6,390,000
5/1/2021	$6,390,000
1 1 /1 /2021	$6, 1 55,000
5/1/2022	$6, 1 55,000
11 /1/2022	$5,910,000
5/1 /2023	$5,91 0,000
11 /1/2023	$5,650,000
5/1 /2024	$5,650,000
1 1 /1 /2024	$5,375,000
5/1 /2025	$5,375,000
11 /1 /2025	$5,085,000
5/1 /2026	$5,085,000
11 /1 /2026	$4,780,000
5/1/2027	$4,780,000
1 1 /1 /2027	$4,455.000
5/1/2028	$4,455,000
11 /1 /2028	$4, 11 0,000
5/1 /2029	$4, 11 0,000
11 /1/2029	$3,750,000
5/1/2030	$3,750, 000
1 1 /1 /2030	$3,370, 000
5/1/2031	$3,370,000
11 /1 /2031	$2,965,000
5/1 /2032	$2,965,000
11 /1 /2032	$2,535,000
5/1/2033	$2,535,000
11 /1/2033	$2,080,000
5/1 /2034	$2,080,000
11 /1 /2034	$1,605,000
5/1/2035	$1,605,000
11 /1 /2035	$1,1 00,000
5/1/2036	$1,1 00,000
11 /1 /2036	$565,000
5/1/2037	$565,000

5.55%
$220,000	5.55%
5.55%
$235,000	5.55%
5.55%
$245,000	5.55%
5.55%
$260,000	5.55%
5.55%
$275,000	5.55%
5.55%
$290,000	5.55%
5.55%
$305,000	5.55%
5.55%
$325,000	5.55%
5.55%
$345,000	5.55%
5.55%
$360,000	5.55%
5.55%
$380,000	5.55%
5.55%
$405,000	5.55%
5.55%
$430,000	5.55%
5.55%
$455,000	5.55%
5.55%
$475,000	5.55%
5.55%
$505,000	5.55%
5.55%
$535,000	5.55%
5.55%
$565,000	5.55%

$1 83,428	$1 83,428
$1 83,428	$403,428	$586,855
$1 77,323	$1 77, 323
$1 77,323	$412,323	$589,645
$1 70,801	$170, 801
$1 70,801	$4 15,801	$586,603
$164, 003	$164,003
$164,003	$424 ,003	$588,005
$1 56,788	$1 56,788
$1 56,788	$431, 788	$588,575
$149,1 56	$149, 1 56
$149,1 56	$439, 1 56	$588,31 3
$141 ,1 09	$141 ,1 09
$141 ,1 09	$446, 1 09	$587,218 
$1 32,645	$1 32,645
$1 32,645	$457,645	$590,290
$1 23,626	$1 23,626
$1 23,626	$468,626	$592,253
$1 14,053	$1 1 4,053
$1 14,053	$474,053	$588, 105
$1 04,063	$1 04,063
$1 04,063	$484,063	$588, 125
$93, 51 8	$93,51 8
$93,51 8	$498,51 8	$592,035
$82,279	$82,279
$82,279	$51 2 ,279	$594,558
$70,346	$70,346
$70,346	$525,346	$595,693
$57,720	$57,720
$57,720	$532,720	$590,440
$44,539	$44,539
$44,539	$549,539	$594,078
$30,525	$30,525
$30,525	$565,525	$596,050
$1 5,679	$1 5,679
$1 5,679	$580,679	$596,358

$6,61 0,000

$4,023, 1 95

$1 0,633,195

$1 0,633,195

Annual Operating and Debt Service Budget
Fiscal Year 2020	9	

Community Development District	2006 Debt Service Fund

Budget Narrative

I  REVENUES	

Fiscal Year 2020
Interest-Investments
The District earns interest income on its trust accounts with US Bank.
Special Assessments-Tax Collector
The District will levy a Non-Ad Valorem assessment on all the assessable property with in the District in order to pay for the debt service expend itures du ring the fiscal year.
Special Assessments-Discounts
Per Section  1 97. 162, Florida Statutes, discounts are allowed for early payment of assessments.  The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments.

I     EXPENDITURES	
I Expenditures - Administrative	

Miscellaneous-Assessment Collection Cost
The District reimburses the St. Johns County Tax Collector for necessary administrative costs. Per the Florida Statutes, administrative costs shall include,  but not be l imited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted , whichever is g reater. The fiscal year budget is based on a maximum of 2% of the anticipated assessment collections.

  Expenditures - Debt Service	

Debt Retirement
The District pays reg ular principal payments annually in order to pay down/retire the debt.
Interest Expense
The District pays interest expense on the debt twice during the year.

Annual Operating and Debt Service Budgets

Fiscal Year 2020

10 

Cordoba Ranch
Community Development District

Supporti ng Budget Schedu les
Fiscal Year 2020

CORDOBA RANCH

Community Development District

Comparison of Non-Ad Valorern Assessment Rates Fiscal Year 2020 vs. Fiscal Year 201 9

All Funds

0

FY 2020	FY 2019	Change ,
$1 ,753.05 $1 ,753.05 0.00%

General Fund Percent ,

FY 2020	FY 2019	Change

Debt Service Percent

Total Assessments per Unit
L>  FY 2020

FY 2019	Change

Percent

.'

$2, 233. 81	$2,233. 81 

0.0%

$3,986.86 $3,986.86

0.0%

Units
286

!;

i
,.
;

prepaid lots

Annual Operating and Debt Service Budget
Fiscal Year 2020	11