Ridge at Apopka
Community Development District
Agenda
June 12, 2024
AGENDA
Ridge at Apopka
Community Development District
219 E. Livingston Street, Orlando, Florida 32801
Phone: 407-841-5524 – Fax: 407-839-1526
June 5, 2024
Board of Supervisors
Ridge at Apopka Community
Development District
Dear Board Members:
The meeting of the Board of Supervisors of the Ridge at Apopka Community Development
District will be held Tuesday, June 12, 2024 at 3:00 p.m. at the Offices of GMS-CF, 219 E.
Livingston Street, Orlando, Florida. Following is the advance agenda for the regular meeting:
1. Roll Call
2. Public Comment Period
3. Approval of Minutes of the March 26, 2024 Meeting
4. Consideration of Resolution 2024-04 Approving the Proposed Fiscal Year 2025 Budget
and Setting a Public Hearing
5. Ratification of Easement Agreement with Bronson Peak Homeowners Association, Inc.
for Phases 1A – 1C
6. Review and Acceptance of the Fiscal Year 2023 Audit Report
7. Staff Reports
A. Attorney
i. Memorandum on Public Records Designations and Appointments
B. Engineer
C. District Manager’s Report
i. Approval of Check Register
ii. Balance Sheet and Income Statement
iii. Presentation of Number of Registered Voters – 1
iv. Designation of November 5, 2024 as the Landowners’ Meeting Date
8. Other Business
9. Supervisor’s Requests
10. Adjournment
The balance of the agenda will be discussed at the meeting. In the meantime, if you should
have any questions, please contact me.
Sincerely,
George S. Flint
George S. Flint
District Manager
Cc: Jere Earlywine, District Counsel
John Prowell, District Engineer
Enclosures
MINUTES
MINUTES OF MEETING
RIDGE AT APOPKA
COMMUNITY DEVELOPMENT DISTRICT
The regular meeting of the Board of Supervisors of the Ridge at Apopka Community
Development District was held on Tuesday, March 26, 2024 at 3:00 p.m. at the Offices of GMS –
CF, LLC at 219 E. Livingston Street, Orlando, Florida.
Present and constituting a quorum were:
Ernesto Mitsumasu by phone Chairman
Craig Perry Vice Chairman
Dean Perry Assistant Secretary
Andrew Hall Assistant Secretary
Kevin Walsh
Also present were:
George Flint District Manager
Jere Earlywine District Counsel
John Prowell District Engineer
Jarrett Wright Field Manager
FIRST ORDER OF BUSINESS Roll Call
Mr. Flint called the meeting to order and called the roll. There were four Board members
present and one on the phone constituting a quorum.
SECOND ORDER OF BUSINESS Public Comment Period
Mr. Flint stated there were only Board members and staff present.
THIRD ORDER OF BUSINESS Approval of Minutes of the October 24, 2023
Meeting
Mr. Flint presented the October 24, 2023 meeting minutes. He stated if there were no
corrections, they would be looking for a motion to approve those.
On MOTION by Mr. Craig Perry, seconded by Mr. Dean Perry, with
all in favor, the Minutes of the October 24, 2023 Meeting, were
approved, as presented.
March 26, 2024 Ridge at Apopka CDD
2
FOURTH ORDER OF BUSINESS Consideration of Resolution 2024-03
Authorizing Actions to Implement a Capital
Improvement Plan
Mr. Earlywine stated this resolution updates the old one, language has been cleared up and
authority is broadened. It lets the Board implement capital improvement plans and the different
documents related to it such as plats, permits, and real estate documents be signed and gives the
Chair the authority to sign documents outside of a meeting.
On MOTION by Mr. Craig Perry, seconded by Mr. Dean Perry, with
all in favor, Resolution 2024-03 Authorizing Actions to Implement
a Capital Improvement Plan, was approved.
FIFTH ORDER OF BUSINESS Ratification Items
A. Jr. Davis Change Orders #1 – #4 and #7 – #8
Mr. Flint noted this is for ratification of change orders #1 through #4 and #7 through #8
and those are in the agenda for review. They have already been signed.
On MOTION by Mr. Craig Perry, seconded by Mr. Dean Perry, with
all in favor, Jr. Davis Change Orders #1 – #4 and #7 – #8, was
ratified.
B. Non-Ad Valorem Interlocal Agreement with the Orange County Property Appraiser
Mr. Flint stated this is an annual agreement with the property appraiser that allows the
District to use the tax bill as the collection method for the assessments.
On MOTION by Mr. Craig Perry, seconded by Mr. Dean Perry, with
all in favor, the Non-Ad Valorem Interlocal Agreement with the
Orange County Property Appraiser, was ratified.
C. Landscape Maintenance Agreement with Blade Runners Commercial Landscaping
Orlando, LLC
Mr. Flint stated this is for landscape maintenance on District property. Mr. Wright noted
this was approved last month so just needs to be ratified.
On MOTION by Mr. Craig Perry, seconded by Mr. Dean Perry, with
all in favor, the Landscape Maintenance Agreement with Blade
Runners Commercial Landscaping Orlando, LLC, was ratified.
D. Aquatic Maintenance Services Agreement with Aquatic Weed Management, Inc.
March 26, 2024 Ridge at Apopka CDD
3
Mr. Flint stated this for aquatic maintenance services.
On MOTION by Mr. Craig Perry, seconded by Mr. Dean Perry, with
all in favor, the Aquatic Maintenance Services Agreement with
Aquatic Weed Management, Inc., was ratified.
E. Ratification of Series 2022 Requisitions #45 – #51
Mr. Flint stated this is ratification of Series 2022 requisitions #45 through #51 which have
all been signed by the Engineer certifying that they are in accordance with the Engineer’s Report
and then signed by the Chair on behalf of the District. These have all been processed and
transmitted to the Trustee.
On MOTION by Mr. Craig Perry, seconded by Mr. Dean Perry, with
all in favor, Series 2022 Requisitions #45 – #51, was ratified.
F. Ratification of Conveyance Documents for Bronson’s Ridge Plat
i. Assignment of Plat Dedication from HOA to CDD
ii. Quit Claim Deed from HOA to CDD
iii. Quit Claim Deed from Developer to CDD
iv. Easement Agreement from Developer to CDD
Mr. Flint stated the Board members received an email from Ashley with the actual recorded
documents. Mr. Earlywine noted these should be signed by the landowner. He noted if there is
something not right to let him know.
On MOTION by Mr. Craig Perry, seconded by Mr. Dean Perry, with
all in favor, the Conveyance Documents for Bronson’s Ridge Plat,
were ratified.
SIXTH ORDER OF BUSINESS Staff Reports
A. Attorney
i. CDD Ethics Training Requirement
Mr. Earlywine noted he had two items. The first is moving forward with getting the rest of
the real estate conveyed. Once the project gets closer to completion, they will have the Board adopt
a Project Completion Resolution that finalizes what all has been built and commits the District to
making payment for the final requisition. There is some reserve money that will get released in the
future. The resolution authorizes George to pay it out. He asked when the master improvements
will be done that was part of the first bond issue. A Board member stated they are done but there
is still a lot overall to do. Mr. Earlywine stated they would hold off on declaring the project
March 26, 2024 Ridge at Apopka CDD
4
complete. The other thing is the 4-hours of ethics training requirement for Board members in 2024.
This is reported by checking the box on the June 2025 Form 1 online. He will send out information
with free links on training.
B. Engineer
Mr. Prowell noted that he had nothing further to report.
C. District Manager’s Report
i. Approval of Check Register
Mr. Flint presented the check register for February totaling $12,983.34. The detail is behind
the summary. He asked for any questions on the check register, if not, asking for a motion to
approve.
On MOTION by Mr. Craig Perry, seconded by Mr. Dean Perry, with
all in favor, the Check Register totaling $12,983.34, was approved.
ii. Balance Sheet and Income Statement
Mr. Flint stated you have the unaudited financials through the end of February.
SEVENTH ORDER OF BUSINESS Other Business
Mr. Flint asked for other business topics. A Board member noted registered on the tax roll
now is Lennar, Toll, and McCraney. Mr. Flint noted anything that is platted will be on roll. The
Board member asked for clarification if that includes the debt service and O&M paid in advance.
Mr. Flint stated if it is on roll it is paid anytime between November and March. If it is direct billed,
there is a schedule when the payments are due.
Mr. Flint asked Mr. Wright for anything from the site. He noted he would typically send a
report for everything done. They are doing maintenance of landscaping and ponds. The only other
thing that was done was the large pond had to be bush hogged twice to properly maintain it going
forward so should just be regular maintenance moving forward.
EIGHTH ORDER OF BUSINESS Supervisor’s Requests
There being no comments, the next item followed.
NINTH ORDER OF BUSINESS Adjournment
Mr. Flint stated asked for a motion to adjourn.
March 26, 2024 Ridge at Apopka CDD
5
On MOTION by Mr. Craig Perry, seconded by Mr. Dean Perry, with
all in favor, the meeting was adjourned.
________________________________ ________________________________
Secretary/Assistant Secretary Chairman/Vice Chairman
SECTION IV
RESOLUTION 2024-04
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE RIDGE AT
APOPKA COMMUNITY DEVELOPMENT DISTRICT APPROVING A
PROPOSED BUDGET FOR FISCAL YEAR 2024/2025 AND SETTING A
PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW;
ADDRESSING TRANSMITTAL, POSTING AND PUBLICATION
REQUIREMENTS; ADDRESSING SEVERABILITY; AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, the District Manager has heretofore prepared and submitted to the Board of
Supervisors (“Board”) of the Ridge at Apopka Community Development District (“District”)
prior to June 15, 2024, a proposed budget (“Proposed Budget”) for the fiscal year beginning
October 1, 2024 and ending September 30, 2025 (“Fiscal Year 2024/2025”); and
WHEREAS, the Board has considered the Proposed Budget and desires to set the required
public hearing thereon.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
SUPERVISORS OF THE RIDGE AT APOPKA COMMUNITY
DEVELOPMENT DISTRICT:
1. PROPOSED BUDGET APPROVED. The Proposed Budget prepared by the
District Manager for Fiscal Year 2024/2025 attached hereto as Exhibit A is hereby approved as
the basis for conducting a public hearing to adopt said Proposed Budget.
2. SETTING A PUBLIC HEARING. A public hearing on said approved Proposed
Budget is hereby declared and set for the following date, hour and location:
DATE: August 27, 2024
HOUR: 3:00 p.m.
LOCATION: Offices of GMS-CF, LLC
219 E. Livingston Street
Orlando, FL 32801
3. TRANSMITTAL OF PROPOSED BUDGET TO LOCAL GENERAL
PURPOSE GOVERNMENT. The District Manager is hereby directed to submit a copy of the
Proposed Budget to City of Apopka and Orange County at least 60 days prior to the hearing set
above.
4. POSTING OF PROPOSED BUDGET. In accordance with Section 189.016,
Florida Statutes, the District’s Secretary is further directed to post the approved Proposed Budget
on the District’s website at least two days before the budget hearing date as set forth in Section 2,
and shall remain on the website for at least 45 days.
5. PUBLICATION OF NOTICE. Notice of this public hearing shall be published
in the manner prescribed in Florida law.
6. SEVERABILITY. The invalidity or unenforceability of any one or more
provisions of this Resolution shall not affect the validity or enforceability of the remaining portions
of this Resolution, or any part thereof.
7. EFFECTIVE DATE. This Resolution shall take effect immediately upon
adoption.
PASSED AND ADOPTED THIS 12th DAY OF JUNE, 2024.
ATTEST: RIDGE AT APOPKA COMMUNITY
DEVELOPMENT DISTRICT
__________________________________ By:_________________________________
Secretary/Assistant Secretary Its:_________________________________
Ridge at Apopka
Community Development District
Proposed Budget
FY 2025
1
2-3
4-5
6-7
8-9 Assessment Schedule
Narratives
Table of Contents
General Fund
Debt Service Fund Series 2022
Debt Service Fund Series 2023
Description AFBdYuo2dp0gt2ee4td Ac4tu/a3l0s/ T2h4ru Pro5j Mecotendt hNsext Pro9je/c3t0ed/2 T4hru PFBrYou p2do0gse2et5d REVENUES:
SSOpptheecceiiraa Ill nAAcssossmeessessmmeennttss -- ODnir Recotll $ 1 8330,,820875 - $ 1 8335,,8905 7781 $ --- $ 1 8335,,8905 7781 $214,09 --2 TOTAL REVENUES $ 214,092 $ 219,836 $ - $ 219,836 $ 214,092
EXPENDITURES:
Administrative: ILPPETTBGAAADDDDDWnroenrrsaeeniiiiussssefigsnnbulgsonentttsebaetiekissrrrureptnstalst,riiii mmr aiFhAgecccLsneataleetttmeeoi lgdeaiAg c rn eCMWL n &tFve&Ceeiusiaoiene eonrn aaR etd DaueBgrennsbitbneios tena etiF aiAsbiTdnlltnsssgieiiaid dvette ieOoe&Atnyemcliemsentn ggh rAaShiegeynnnudennoidbrmtstl sC toPFicrnhguerayiabeitsprsiltoigt rciena oOstnifofsinci als Insurance $24 12555558,,,,,,,,00055500 1255559000000000000017000000000000055 --- 2 1125561,,,,,,,0247898 112370011557 401789$0000675003567 ----- $1 112465,,,,,,000556 3557000382 55500560001350000000 ----- $13 11111455617,,,,,,,,,,,00224577858 115700000035801 59056700000001306000567 - $24 11222556902 ,,,,,,,,,,,00256678905 12255 000000255 0000057 0000000460000005 -- TOTAL ADMINISTRATIVE $ 100,790 $ 46,719 $ 33,000 $ 79,718 $ 101,555
Operations & Maintenance
Field Operation JIISFFLLPPPEERAMarnareoiaaelneqneeruntesrnncgrucleiiltsdtdlgitddtctara niseoCahr lsstnMiiuertrmioicczecc eiriSaaaanota reeMepptntnled ir rWeeaSod a vRo WgeCMin iWanleercosamapvtenhoetiaisnetecnioinirtnreandegsstng nC ceahennicpcyes $ 1113 11223444560188 ,,,,,,,,,,,,,,00022444770007 4 0000000245 00080 000000003600030 - $2 231 ,,,255 05 0 000 ------------- $1 11122235565,,,,,,,,,,,00000222250 2660000000055000000000000000000 -- $3 11122255686,,,,,,,,,,,00000225575 2660000000005000000000000000000 -- $ 116 1234448005 ,,,,,,,,,,0000245000 4 0000003 0000 00000070000 ----- Total Field Operation $ 113,302 $ 27,250 $ 45,800 $ 73,050 $ 112,537
TOTAL EXPENDITURES $ 214,092 $ 73,969 $ 78,800 $ 152,768 $ 214,092
EXCESS REVENUES (EXPENDITURES) $ - $ 145,867 $ (78,800) $ 67,068 $ -
Ridge at Apopka
Community Development District
Proposed Budget
General Fund
Page 1
The District is required to pay an annual fee to Florida Commerce for $175.
Information Technology TheDistrictprocessesallofitsfinancialactivities,i.e.accountspayable,financialstatements,etc.onamainframecomputerleasedby Governmental Management Services – Central Florida, LLC.
Copies used in the preparation of agenda packages, required mailings, and other special projects. Legal Advertising gTehneerDails ctirriccutlaistiorne.quiredto advertisevarious notices for monthly Boardmeetings andother publichearingsinanewspaperof
Website Maintenance uPeserfCuhl wapetbesri2te0s1 r4e-g2a2r,dLianwg CsoomfFplloiarnidcae, iaslsluDeiss.t Trihcitss wmeubsstithea wveilal bwee mbsaiitnetationpedro bvyi dGeMdSe-tCaFil,e LdLiCn faonrdm uaptdioanteodn mthoentChDlyD.aswellaslinksto Telephone
bTuhdegDeitsetdr iacmtoisunret qfourir tehde tfiosccaoln ydeuacrt isa nbaasnendu oanl acuodnittraocftietds ffeineasn frcoiamlr tehceo prrdesvbioyuasn yIenadr eepnegnadgeemnteCnet rptliufise danPtuicbipliactAedc cinocurnetainseg.Firm.The Assessment Roll Administration aGdMvSisCoFr,yL sLeCrvpircoevsi.desassessmentservicesforclosinglotsales,assessmentrollserviceswiththelocalTaxCollectorandfinancial Dissemination Agent rTehpeoDrtisintrgi crteqisurireeqmuiernetds bfoyrt uhne-Sreactuerdi tbyonandd isEsxucehsa.ngeCommissiontocomplywithRule15(c)(2)-12(b)(5),whichrelatestoadditional Trustee Fees tTrhuestDeies tarninctuahla fseeis.suedSeries2022andSeries2023bonds,whichwillbeheldandadministeredbyaTrustee.Thisrepresentsthe District Management Fees
Due, Licenses & Subscriptions
"TMAha"en oaDfg tieshmter eiMcntatnrSeaecgreevimivceeesns-tMC AeagnnrtaergeaemlmFeelnontrt.i,dAac,cLoLuCn.tTinhgeabnuddAgedtmedinaimstoruatnitvfeosretrhveicfiesscaalsypeaarrtisobfaasMedanoangtehmeecnotnAtrgarceteemdefneteswoiuthtliGnevdeirnnEmxehnibtaitl
Bank Fees and Other Charges This includes monthly bank charges and any other miscellaneous expenses that incur during the year.
New internet and Wi-Fi service for Office. Postage and Delivery Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence. Insurance General Liability iTnhseurDainsctrei ccot'vseGraegnee troa lgoLviaebrinlimtyen&taPl uagbelincciOefsf.i cTihales aLmiaobuinlitt yis Ibnassuerda unpcoenp soilmiciylairs Cwomithmaunqiutya lDifeievdeleonptmityentth Daitsstrpiecctisa.lizesinproviding Printing and Binding
Special Assessments-Tax Roll
Ridge at Apopka
Community Development District
Budget Narrative
Fiscal Year 2025
REVENUES
Annual Audit
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eTxhpeeDndisittruircetsw diullrlienvgy thaeN Foins-cAald YVeaalro.remassessmentonallsoldandplattedparcelswithintheDistrictinordertopayfortheoperating Expenditures - Administrative
District Engineering Fees bTohaerdD i smtreiectti'nsgse,n grienveieerw w oifl l ipnrvoovicidese, g aennde r oaltheenrg i snpeeecriifnicgalsleyr v riecqeusetsotedth aessDigisntmriecnt,tsi..e.attendanceandpreparation for monthly District Counsel Fees
Page 2
Ridge at Apopka
Community Development District
Budget Narrative
Fiscal Year 2025
Landscape Contingency
Pressure washing
The District will repair sprinkler heads and other irrigation equipment that can be potentially damaged.
The District will pay for the cost of reclaim water provided by the City of Apopka to irrigate the landscaped areas.
Maintenance of lake and ponds in district owned and operated areas including border grass & aquatic vegetation control, & treatment, casual debris and trash removal. water testing
Irrigation Repairs
Reclaimed Water
Aquatic Maintenance
Pest Control The district will pay for services to remove and prevent unwanted pests.
The district will pay for cleanings of the amenity buildings within the community park.
Electricity will be provided in the amenity buildings in the community park.
Internet will be provided to the amenity buildings in the district.
Pressure washing of the sidewalks and amenity buildings.
Janitorial services
Electricity
Internet
Expenditures – Operations
Represents the onsite management, contract admin and field services.
hTohreticDuisltturircatl shearsvicceosn, tarnadc tterdee wpriuthninBgl.ade Runners to maintain landscaping withinits boundaries including turfmaintenance,
Field Management
Landscape Maintenance
Rweoporde scehniptss .landscaping work necessary outside the monthly maintenance to include ferlization, mulching, sande along the lake and
Page 3
Description AFBdYuo2dp0gt2ee4td Ac4tu/a3l0s/ T2h4ru Pro5j Mecotendt hNsext Pro9je/c3t0ed/2 T4hru PFBrYou p2do0gse2et5d REVENUES: ISSCnppateereccrriiyaae llFs AAto Essrsswaeerassnrssidnmm gSeesunnrttpss--luODsnir ( Re1)cotll 1$,2 35324369,,,518278678 - $ 235 22674019,,,,306972220045 1 2028,,0806$02 -- $$ $335 42676099,,,,368972280047 $ 48 237058,,,024028004 -
TOTAL REVENUES $ 2,109,591 $ 1,185,939 $ 130,862 $ 1,316,801 $ 1,333,704
EXPENDITURES: IIPnnrttineerrceeipssatt l-- - 01 0155///000111 $ 133449115,,,077099011 $ 341,791 -- 134915,,0709$01 - $ 133449115,,,077099011 $ 233033577,,,011055099 TOTAL EXPENDITURES $ 878,581 $ 341,791 $ 536,791 $ 878,581 $ 879,319
Other Sources/(Uses) Interfund transfer In/(Out) $ - $ - $ - $ - $ - TOTAL OTHER SOURCES/(USES) $ - $ - $ - $ - $ -
TOTAL EXPENDITURES $ 878,581 $ 341,791 $ 536,791 $ 878,581 $ 879,319
EXCESS REVENUES (EXPENDITURES) $ 1,231,010 $ 844,149 $ (405,929) $ 438,220 $ 454,386
(1) Carry Forward is Net of Reserve Requirement $ 332,290.63
Ridge at Apopka
Community Development District
Proposed Budget
Debt Service Series 2022 Special Assessment Bonds
Interest Due 11/1/25
Page 4
Period OuBtsatlaanndceing Coupons Principal Interest AnSneuravl iDceebt
00000000000000000000000000000111111111111111111111111111111111111111111111111111111111155555555555555555555555555555/////////////////////////////////////////////////////////00000000000000000000000000000000000000000000000000000000001111111111111111111111111111111111111111111111111111111111///////////22222222222223333333333333333333344444444444444444444555550000001111112222233333444444555555666666777777888888999999 $ 1111111111111111111111 11223333445555666677778888889999990000001111111122222222,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,00111111222244445566666666778899991111333344556666778899 8800111111112222335555556677778899990011113333555555777799550000000000000055555555555555555555000000000000555555555500,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,00000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000 4444444445555555555555555555555555555555555555555555555555..........................................................00000000003333333333333333333355555555555555555557777777770000000000000000000000000000055555555577777777777777777777000000000000000000000000000000000000055555555555555555555%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 122222222333333444455566677880001112222334444556667788899900000000000555555555555555555,,,,,,,,,,,,,,,,,,,,,,,,,,,,,0000000000000000000000000000000000000000000000000000000000$00000000000000000000000000000 --------------------- $ 11111111111111222222222222222222223333333333333333 22446688000000111122222222333333334444555566777788888899993355666600001111112222222233333333444444555566777777999999,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,22334455001111111122333333333333444455556666778888889999991111117700001122222233444444444444445555556666666677889999333333550001111111111111111223333333344444455556666668899 388888888888888888888888888888477777777777777777777777777777000011112222222223333334444455,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,000011123444444556677888888999000002222222345555677788888899000001112344555555556666777899..............................000000000001222222333355556678000000000000000333555555588888 - Total $ 12,750,000 $ 12,905,775 $ 25,655,775
Ridge at Apopka
Community Development District
AMORTIZATION SCHEDULE
Debt Service Series 2022 Special Assessment Bonds
Page 5
Description PFBroYup2do0gs2eet4d Ac4tu/a3l0s/ T2h4ru Pro5j Mecotendt hNsext Pro9je/c3t0ed/2 T4hru PFBrYou p2do0gse2et5d REVENUES: ISCnpaterecrriyae lFs Ato Esrswaerasnrsidnm gSesunrtps-luOsn ( R1)oll $ 2 33 447,,,111250470 $ 2 33 347,,,111250470 1,00$0 -- $ 2 33 447,,,111250470 $ 120257,,191539 -
TOTAL REVENUES $ 275,381 $ 274,381 $ 1,000 $ 275,381 $ 333,072
EXPENDITURES: IIPnnrttineerrceeipssatt l-- - 01 0155///000111 $ 349045,,,013001066 $ 34,116 -- 4905,,0300$06 - $ 349045,,,013001066 $$ 488599,,,022033088 TOTAL EXPENDITURES $ 169,422 $ 34,116 $ 135,306 $ 169,422 $ 223,475
Other Sources/(Uses) Interfund transfer In/(Out) $ - $ - $ - $ - $ - TOTAL OTHER SOURCES/(USES) $ - $ - $ - $ - $ -
TOTAL EXPENDITURES $ 169,422 $ 34,116 $ 135,306 $ 169,422 $ 223,475
EXCESS REVENUES (EXPENDITURES) $ 105,959 $ 240,266 $ (134,306) $ 105,959 $ 109,597
(1) Carry Forward is Net of Reserve Requirement $ 88,168.75
Ridge at Apopka
Community Development District
Proposed Budget
Debt Service Series 2023 Special Assessment Bonds (Parcel 2 Project)
Interest Due 11/1/25
Page 6
Period OuBtsatlaanndceing Coupons Principal Interest AnSneuravl iDceebt
000000000000000000000000000000111111111111111111111111111111111111111111111111111111111111555555555555555555555555555555///////////////////////////////////////////////////////////000000000000000000000000000000000000000000000000000000000000111111111111111111111111111111111111111111111111111111111111///////222222222222233333333333333333333444444444444444444445555555000000111111222222333333444444555555666666777777888888999999 $ 11111111111111222222222222222222222222333333333333,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,00000011111111222222333344445555666677778888889999 224466889900111111112233444444445555555566666666667777889999002222228800000000000000000055555555555555555555555555555555000000555,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,00000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000 444444444444445555555555555555555555555555555555555555555555............................................................55555555555555555555555555777777777777777777777777777777777700000000000000000000000000555555555555555555555555555555555500000000000000000000000000000000000000000000000000000000000%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 111111111111122 445555666778899000112234456789000000555555555000005555555555,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,000000000000000000000000000000000000000000000000000000000000$000000000000000000000000000000 --------------------- $ 1111222233333444444555555666666667777777777888888888888889 660111111112222223333444444455555566667777778888888899999999,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,33111111111111111222222333334455555566777777888899999999999922000001111111223333444444555555666666667777888888888899999955111111111444444444444555555666666666666888899999999999999 222222222222222222222222222222 32222222222222222222222222222224222333344444555555566666666677,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,100011112233344455666777788899910111223333444555555556677888995000000001233333555567777778888...............................60000000000002255555557777777779000000000000000000055555555555 Total $ 3,255,000 $ 3,535,234 $ 6,790,234
Ridge at Apopka
Community Development District
AMORTIZATION SCHEDULE
Debt Service Series 2023 Special Assessment Bonds (Parcel 2 Project)
Page 7
Land Use Units
ERU
Value ERU's
%
ERU's Net Budget Net Per Unit
Gross Per
Unit
Gross Per
Unit Series
2022
Gross Per
Unit Series
2023 Total
Commercial 1 100000 0.5 50 4.01% 8,585.67 $ 0.09 $ 0.09 $ 0.21 $ 0.30 $ SF 60' 2 79 1.2 94.8 7.60% 16,278.43 $ 206.06 $ 219.21 $ 959.70 $ 1,035.94 $ 2,214.85 $ SF 55' 2 79 1.1 86.9 6.97% 14,921.89 $ 188.88 $ 200.94 $ 682.03 $ 947.40 $ 1,830.37 $ Bungalow 30-35 2 60 0.65 39 3.13% 6,696.82 $ 111.61 $ 118.74 $ 461.43 $ 602.11 $ 1,182.28 $ TH 20' 2 95 0.4 38 3.05% 6,525.11 $ 68.69 $ 73.07 $ 283.95 $ 513.67 $ 870.69 $ MF 3.1 300 0.4 120 9.62% 20,605.61 $ 68.69 $ 73.07 $ 360.07 $ 433.14 $ Office 3.2 75000 0.5 37.5 3.01% 6,439.25 $ 0.09 $ 0.09 $ 0.21 $ 0.30 $ Commercial 3.3 25000 0.5 12.5 1.00% 2,146.42 $ 0.09 $ 0.09 $ 0.21 $ 0.30 $ SF 60' 4 67 1.2 80.4 6.45% 13,805.76 $ 206.06 $ 219.21 $ 1,298.54 $ 1,517.75 $ Bungalow 30-35 4 125 0.65 81.25 6.52% 13,951.71 $ 111.61 $ 118.74 $ 703.37 $ 822.11 $ TH 25' 4 76 0.5 38 3.05% 6,525.11 $ 85.86 $ 91.34 $ 541.06 $ 632.39 $ Industrial 5 1500000 0.2 300 24.06% 51,514.02 $ 0.03 $ 0.04 $ 0.12 $ 0.16 $ MF 6 378 0.4 151.2 12.13% 25,963.06 $ 68.69 $ 73.07 $ 360.07 $ 433.14 $ Commercial 6.1 150000 0.5 75 6.02% 12,878.50 $ 0.09 $ 0.09 $ 0.21 $ 0.30 $ SF 60' 9 15 1.2 18 1.44% 3,090.84 $ 206.06 $ 219.21 $ 971.56 $ 1,190.77 $ SF 55' 9 12 1.1 13.2 1.06% 2,266.62 $ 188.88 $ 200.94 $ 890.60 $ 1,091.54 $ Bungalow 30-35 9 17 0.65 11.05 0.89% 1,897.43 $ 111.61 $ 118.74 $ 526.26 $ 645.00 $
1851303 1246.8 100.00% 214,092.25 $
O&M Assessments
Ridge at Apopka
Community Development District
Non-Ad Valorem Assessments Comparison
FY 2025
Page 8
Land Use Units
ERU
Value ERU's
%
ERU's
Improvement
Cost Actual Bonds % Issued
Par Debt Per
Unit Annual Debt
Net Annual
Per Unit
Gross
Annual
Per Unit
Commercial 1 100000 0.5 50 4.01% 251,413.11 $ 288,044.54 $ 2.23% 2.88 $ 19,495.82 $ 0.19 $ 0.21 $ SF 60' 2 79 1.2 94.8 7.60% 919,040.60 $ 1,052,946.78 $ 8.14% 13,328.44 $ 71,266.99 $ 902.11 $ 959.70 $ SF 55' 2 79 1.1 86.9 6.97% 653,138.41 $ 748,302.08 $ 5.79% 9,472.18 $ 50,647.61 $ 641.11 $ 682.03 $ Bungalow 30-35 2 60 0.65 39 3.13% 335,604.71 $ 384,503.04 $ 2.97% 6,408.38 $ 26,024.46 $ 433.74 $ 461.43 $ TH 20' 2 95 0.4 38 3.05% 326,999.47 $ 374,643.99 $ 2.90% 3,943.62 $ 25,357.17 $ 266.92 $ 283.95 $ MF 3.1 300 0.4 120 9.62% 1,309,443.27 $ 1,500,231.96 $ 11.60% 5,000.77 $ 101,540.75 $ 338.47 $ 360.07 $ Office 3.2 75000 0.5 37.5 3.01% 188,559.83 $ 216,033.40 $ 1.67% 2.88 $ 14,621.87 $ 0.19 $ 0.21 $ Commercial 3.3 25000 0.5 12.5 1.00% 62,853.28 $ 72,011.14 $ 0.56% 2.88 $ 4,873.96 $ 0.19 $ 0.21 $ SF 60' 4 67 1.2 80.4 6.45% 1,054,638.01 $ 1,208,301.03 $ 9.34% 18,034.34 $ 81,781.88 $ 1,220.63 $ 1,298.54 $ Bungalow 30-35 4 125 0.65 81.25 6.52% 1,065,787.79 $ 1,221,075.35 $ 9.44% 9,768.60 $ 82,646.49 $ 661.17 $ 703.37 $ TH 25' 4 76 0.5 38 3.05% 498,460.75 $ 571,087.55 $ 4.42% 7,514.31 $ 38,653.13 $ 508.59 $ 541.06 $ Industrial 5 1500000 0.2 300 24.06% 2,182,405.46 $ 2,500,386.61 $ 19.33% 1.67 $ 169,234.59 $ 0.11 $ 0.12 $ MF 6 378 0.4 151.2 12.13% 1,649,898.53 $ 1,890,292.28 $ 14.61% 5,000.77 $ 127,941.35 $ 338.47 $ 360.07 $ Commercial 6.1 150000 0.5 75 6.02% 377,119.66 $ 432,066.80 $ 3.34% 2.88 $ 29,243.74 $ 0.19 $ 0.21 $ SF 60' 9 15 1.2 18 1.44% 176,658.62 $ 202,398.16 $ 1.56% 13,493.21 $ 13,698.99 $ 913.27 $ 971.56 $ SF 55' 9 12 1.1 13.2 1.06% 129,549.65 $ 148,425.31 $ 1.15% 12,368.78 $ 10,045.93 $ 837.16 $ 890.60 $ Bungalow 30-35 9 17 0.65 11.05 0.89% 108,448.76 $ 124,249.98 $ 0.96% 7,308.82 $ 8,409.66 $ 494.69 $ 526.26 $
1851303 1246.8 11,290,019.91 $ 12,935,000.00 $ 100.00% 875,484.38 $
Land Use Units
ERU
Value ERU's
%
ERU's
Improvement
Cost Actual Bonds % Issued
Par Debt Per
Unit Annual Debt
Net Annual
Per Unit
Gross
Annual
Per Unit
TH 20' 95 0.4 38 14.69% 572,713.13 $ 572,713.13 $ 20.20% 657,423.73 $ 45,870.71 $ 482.85 $ 513.67 $ Bungalow 30-35 60 0.65 39 15.08% 587,784.52 $ 423,993.11 $ 14.95% 486,706.38 $ 33,959.17 $ 565.99 $ 602.11 $ SF 55' 79 1.1 86.9 33.59% 1,309,704.49 $ 878,391.63 $ 30.98% 1,008,315.46 $ 70,353.62 $ 890.55 $ 947.40 $ SF 60 79 1.2 94.8 36.64% 1,428,768.54 $ 960,487.69 $ 33.87% 1,102,554.43 $ 76,929.00 $ 973.78 $ 1,035.94 $
313 258.7 100.00% 3,898,970.68 $ 2,835,585.56 $ 100.00% 3,255,000.00 $ 227,112.50 $
Debt Service - Series 2022
Debt Service - Series 2023
Ridge at Apopka
Community Development District
Non-Ad Valorem Assessments Comparison
FY 2025
Page 9
SECTION V







SECTION VI
RIDGE AT APOPKA
COMMUNITY DEVELOPMENT DISTRICT
CITY OF APOPKA, FLORIDA
FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED
SEPTEMBER 30, 2023
RIDGE AT APOPKA COMMUNITY DEVELOPMENT DISTRICT
CITY OF APOPKA, FLORIDA
TABLE OF CONTENTS
Page
INDEPENDENT AUDITOR’S REPORT 1-2
MANAGEMENT’S DISCUSSION AND ANALYSIS 3-6
BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements:
Statement of Net Position 7
Statement of Activities 8
Fund Financial Statements:
Balance Sheet – Governmental Funds 9
Reconciliation of the Balance Sheet – Governmental Funds
to the Statement of Net Position 10
Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds 11
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities
12
Notes to the Financial Statements 13-20
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – General Fund
21
Notes to Required Supplementary Information 22
OTHER INFORMATION
Data Elements required by FL Statute 218.39 (3) (c) 23
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL
REPORTING AND COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT
OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS 24-25
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS
OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10)
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
26
MANAGEMENT LETTER REQUIRED BY CHAPTER 10.550 OF THE RULES
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA 27-28
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
Ridge at Apopka Community Development District
City of Apopka, Florida
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities and each major fund
of Ridge at Apopka Community Development District, City of Apopka, Florida (“District”) as of and for the
fiscal year ended September 30, 2023, and the related notes to the financial statements, which collectively
comprise the District’s basic financial statements as listed in the table of contents.
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, 2023,
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.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America (GAAS) and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Our responsibilities under those
standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements
section of our report. We are required to be independent of the District and to meet our other ethical
responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
The District’s management is responsible for the preparation and fair presentation of the financial statements
in accordance with accounting principles generally accepted in the United States of America; and for the
design, implementation, and maintenance of internal control relevant to the preparation and fair presentation
of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a
going concern for twelve months beyond the financial statement date, including any currently known
information that may raise substantial doubt shortly thereafter.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our
opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is
not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement
when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one
resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the
override of internal control. Misstatements are considered material if there is a substantial likelihood that,
individually or in the aggregate, they would influence the judgment made by a reasonable user based on the
financial statements.
2
In performing an audit in accordance with GAAS, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such procedures
include examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the District’s internal control. Accordingly, no such opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that
raise substantial doubt about the District’s ability to continue as a going concern for a reasonable
period of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control–related matters
that we identified during the audit.
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 is the responsibility of management and, 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 Information Included in the Financial Report
Management is responsible for the other information included in the financial report. The other information
comprises the information for compliance with FL Statute 218.39 (3) (c) but does not include the financial
statements and our auditor's report thereon. Our opinions on the financial statements do not cover the other
information, and we do not express an opinion or any form of assurance thereon. In connection with our audit
of the financial statements, our responsibility is to read the other information and consider whether a material
inconsistency exists between the other information and the financial statements, or the other information
otherwise appears to be materially misstated. If, based on the work performed, we conclude that an
uncorrected material misstatement of the other information exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated May 22, 2024, 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 solely 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 integral part of an audit performed
in accordance with Government Auditing Standards in considering the District’s internal control over financial
reporting and compliance.
May 22, 2024
3
MANAGEMENT’S DISCUSSION AND ANALYSIS
Our discussion and analysis of Ridge at Apopka Community Development District, City of Apopka, Florida
(“District”) provides a narrative overview of the District’s financial activities for the fiscal year ended
September 30, 2023. 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 liabilities of the District exceeded its assets at the close of the most recent fiscal year resulting in
a net position deficit balance of ($571,514).
• The change in the District’s total net position in comparison with the prior fiscal year was $212,718,
an increase. 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, 2023, the District’s governmental funds reported combined ending fund balances of
$2,217,980, a decrease of ($7,991,402) in comparison with the prior fiscal year. The total fund
balance is restricted for debt service and capital projects, non-spendable for prepaid items, and the
remainder is unassigned fund balance which is available for spending at the District’s discretion.
OVERVIEW OF FINANCIAL STATEMENTS
This discussion and analysis are intended to serve as the introduction to the District’s basic financial
statements. The District’s basic financial statements are comprised of three components: 1) governmentwide
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 how the 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 of the 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 that are principally supported by
Developer contributions. The District does not have any business-type activities. The governmental activities
of the District include the general government function.
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.
4
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 requirements.
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, which are
considered major funds.
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, liabilities exceeded assets at the close of the most recent fiscal year.
Key components of the District’s net position are reflected in the following table:
2023 2022
Current and other assets $ 4,764,505 $ 11,853,091
Capital assets, net of depreciation 13,528,762 2,186,791
Total assets 18,293,267 1 4,039,882
Current liabilities 2,859,781 1,889,114
Long-term liabilities 16,005,000 1 2,935,000
Total liabilities 18,864,781 1 4,824,114
Net position
Net investment in capital assets (1,683,833) (1,709,386)
Restricted 1,089,235 922,140
Unrestricted 2 3,084 3 ,014
Total net position $ (571,514) $ (784,232)
SEPTEMBER 30,
NET POSITION
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.
5
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 increased during the most recent fiscal year. The majority of the increase
represents the extent to which ongoing program revenues exceeded the cost of operations.
Key elements of the change in net position are reflected in the following table:
2023 2022
Revenues:
Program revenues
Charges for services $ 976,863 $ 85,904
Operating grants and contributions 37,484 1 ,729
Capital grants and contributions 254,043 7 ,504
Total revenues 1,268,390 95,137
Expenses:
General government 80,729 79,753
Interest 709,125 248,419
Cost of Issuance 265,818 476,150
Total expenses 1,055,672 804,322
Change in net position 212,718 (709,185)
Unrealized loss on investments - (68,896)
Net position - beginning (784,232) (6,151)
Net position - ending $ (571,514) $ (784,232)
FOR THE FISCAL YEAR ENDED SEPTEMBER 30,
CHANGES IN NET POSITION
As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year
ended September 30, 2023 was $1,055,672. The costs of the District’s activities were partially funded by
program revenues. Program revenues of the District are comprised primarily of assessments for the current
fiscal year. In total, expenses, increased from the prior fiscal year. The majority of the increase was due to
and increase in interest expense.
GENERAL BUDGETING 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, 2023.
CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital Assets
At September 30, 2023, the District had $13,528,762 invested in capital assets for its governmental activities.
No depreciation has been taken in the current fiscal year as the District’s infrastructure and other capital
assets are under construction. More detailed information about the District’s capital assets is presented in the
notes of the financial statements.
Capital Debt
At September 30, 2023, the District had $16,005,000 in Bonds outstanding for its governmental activities.
More detailed information about the District’s capital debt is presented in the notes of the financial statements.
6
ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND OTHER EVENTS
For the subsequent fiscal year, the District anticipates that the cost of general operations will increase as the
District is built out.
CONTACTING THE DISTRICT’S FINANCIAL 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 about this report
or need additional financial information, contact the Ridge at Apopka Community Development District’s
Finance Department at 219 E. Livingston St., Orlando Florida, 32801.
7
RIDGE AT APOPKA COMMUNITY DEVELOPMENT DISTRICT
CITY OF APOPKA, FLORIDA
STATEMENT OF NET POSITION
SEPTEMBER 30, 2023
ASSETS
Cash $ 28,574
Accounts receivable 3,014
Assessments receivable 208,670
Prepaids 5,200
Restricted assets:
Investments 4,519,047
Capital assets:
Nondepreciable 13,528,762
Total assets 18,293,267
LIABILITIES
Accounts payable 3,704
Retainage and Contracts Payable 1,002,535
Due to Developer 1,540,286
Accrued interest payable 313,256
Non-current liabilities:
Due within one year 240,000
Due in more than one year 15,765,000
Total liabilities 18,864,781
NET POSITION
Net investment in capital assets (1,683,833)
Restricted for debt service 1,089,235
Unrestricted 23,084
Total net position $ (571,514)
Governmental
Activities
See notes to the financial statements
8
RIDGE AT APOPKA COMMUNITY DEVELOPMENT DISTRICT
CITY OF APOPKA, FLORIDA
STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2023
Functions/Programs Expenses
Primary government:
Governmental activities:
General government $ 80,729 $ 100,799 $ - $ - $ 20,070
Maintenance and operations - - - 254,043 254,043
Interest on long-term debt 709,125 876,064 37,484 - 204,423
Bond issuance costs 265,818 - - - (265,818)
Total governmental activities 1,055,672 976,863 37,484 254,043 212,718
Change in net position 212,718
Net position - beginning (784,232)
Net position - ending $ (571,514)
Net (Expense)
Revenue and
Changes in Net
Program Revenues Position
Governmental
Activities
Charges
for
Services
Operating
Grants and
Contributions
Capital
Grants and
Contributions
See notes to the financial statements
9
RIDGE AT APOPKA COMMUNITY DEVELOPMENT DISTRICT
CITY OF APOPKA, FLORIDA
BALANCE SHEET
GOVERNMENTAL FUNDS
SEPTEMBER 30, 2023
General
ASSETS
Cash $ 28,574 $ - $ - $ 28,574
Investments - 1,198,829 3,320,218 4,519,047
Accounts receivable 3,014 - - 3,014
Assessments receivable - 208,670 - 208,670
Prepaids 5,200 - - 5,200
Total assets $ 36,788 $ 1,407,499 $ 3,320,218 $ 4,764,505
LIABILITIES
Liabilities:
Accounts payable $ 3,704 $ - $ - $ 3,704
Due to Developer 10,000 5,008 1,525,278 1,540,286
Retainage and contracts payable - - 1,002,535 1,002,535
Total liabilities 13,704 5,008 2,527,813 2,546,525
FUND BALANCES
Nonspendable:
Prepaid items 5,200 - - 5,200
Restricted for:
Debt service - 1,402,491 - 1,402,491
Capital projects - - 792,405 792,405
Unassigned 17,884 - - 17,884
Total fund balances 23,084 1,402,491 792,405 2,217,980
Total liabilities and fund balances $ 36,788 $ 1,407,499 $ 3,320,218 $ 4,764,505
Total
Governmental
Funds
Major Funds
Debt
Service
Capital
Projects
See notes to the financial statements
10
RIDGE AT APOPKA COMMUNITY DEVELOPMENT DISTRICT
CITY OF APOPKA, FLORIDA
RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS
TO THE STATEMENT OF NET POSITION
SEPTEMBER 30, 2023
Fund balance - governmental funds $ 2,217,980
Amounts reported for governmental activities in the statement of
net position are different because:
Capital assets used in governmental activities are not financial
resources, therefore, are not reported as assets in the
governmental funds. The statement of net position includes
those capital assets, net of accumulated depreciation, in the
assets of the government as a whole.
Capital assets 13,528,762
Accumulated depreciation - 13,528,762
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 (313,256)
Bonds payable (16,005,000) (16,318,256)
Net position of governmental activities $ (571,514)
See notes to the financial statements
11
RIDGE AT APOPKA COMMUNITY DEVELOPMENT DISTRICT
CITY OF APOPKA, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2023
General
REVENUES
Assessments $ 100,799 $ 876,064 $ - $ 976,863
Developer contributions 3,014 - - 3,014
Investment earnings - 37,484 254,043 291,527
Total revenues 103,813 913,548 254,043 1,271,404
EXPENDITURES
Current:
General government 80,729 - - 80,729
Debt service:
Principal - 185,000 - 185,000
Interest - 644,288 - 644,288
Bond issuance costs - - 265,818 265,818
Capital outlay - - 11,341,971 11,341,971
Total expenditures 80,729 829,288 11,607,789 12,517,806
Excess (deficiency) of revenues
over (under) expenditures 23,084 84,260 (11,353,746) (11,246,402)
OTHER FINANCING SOURCES (USES)
Bond proceeds - 147,672 3,107,328 3,255,000
Total other financing sources (uses) - 147,672 3,107,328 3,255,000
Net change in fund balances 23,084 231,932 (8,246,418) (7,991,402)
Fund balances - beginning - 1,170,559 9,038,823 10,209,382
Fund balances - ending $ 23,084 $ 1,402,491 $ 792,405 $ 2,217,980
Major Funds Total
Governmental
Funds
Capital
Projects
Debt
Service
See notes to the financial statements
12
RIDGE AT APOPKA COMMUNITY DEVELOPMENT DISTRICT
CITY OF APOPKA, FLORIDA
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, 2023
Net change in fund balances - total governmental funds $ (7,991,402)
Amounts reported for governmental activities in the statement of
activities are different because:
Governmental funds report capital outlays as expenditures; however,
the cost of capital assets is eliminated in the statement of activities
and capitalized in the statement of net position. 11,341,971
Certain revenues were unavailable for the governmental fund financial
statements in the prior fiscal year. In the current fiscal year, these
revenues were recorded in the governmental fund financial
statements. (3,014)
Governmental funds report the face amount of Bonds issued as
financial resources when debt is first issued, whereas these amounts
are eliminated in the statement of activities and recognized as longterm
liabilities in the statement of net position. (3,255,000)
Repayments of long-term liabilities are reported as expenditures in the
governmental fund statement but such repayments reduce liabilities in
the statement of net position and are eliminated in the statement of
activities. 185,000
The change in accrued interest on long-term liabilities between the
current and prior fiscal year is recorded in the statement of activities
but not in the fund financial statements. (64,837)
Change in net position of governmental activities $ 212,718
See notes to the financial statements
13
RIDGE AT APOPKA COMMUNITY DEVELOPMENT DISTRICT
CITY OF APOPKA, FLORIDA
NOTES TO FINANCIAL STATEMENTS
NOTE 1 – NATURE OF ORGANIZATION AND REPORTING ENTITY
Ridge at Apopka Community Development District ("District") was created by Ordinance 2859 by the City
Council of the of City of Apopka, Florida enacted on September 8, 2021 and established pursuant to the
Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes.
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 purposes of financing and managing the acquisition, 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 four members. The
Supervisors are elected on an at large basis by the owners of the property within the District. Ownership of
land within the District entitles the owner to one vote per acre. The Board exercises all powers granted to the
District pursuant to Chapter 190, Florida Statutes. All of the Board members are affiliated with Apopka
Centerline Development LLC, the (“Developer”).
The Board has the responsibility for:
1. Assessing and levying assessments.
2. Approving budgets.
3. Exercising control over facilities and properties.
4. Controlling the use of funds generated by the District.
5. Approving the hiring and firing of key personnel.
6. Financing improvements.
The financial statements were prepared in accordance with Governmental Accounting Standards Board
(“GASB”) Statements. Under the provisions of those standards, the financial reporting entity consists of the
primary government, organizations for which the District Board of Supervisors 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. For the 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) grants and
contributions that are restricted to meeting the operational or capital requirements of a particular function or
segment. Other items not included among program revenues are reported instead as general revenues.
14
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Measurement Focus, Basis of Accounting and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement focus
and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when
a liability is incurred, regardless of the timing of related cash flows. 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 requirements 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 are non-ad valorem assessments on certain land and all platted lots within the District.
Assessments are levied each November 1 on property of record as of the previous January. The fiscal year
for which annual assessments are levied begins on October 1 with discounts available for payments through
February 28 and become delinquent on April 1. For debt service assessments, amounts collected as
advance payments are used to prepay a portion of the Bonds outstanding. Otherwise, assessments are
collected annually to provide funds for the debt service on the portion of the Bonds which are not paid with
prepaid assessments.
Assessments and interest 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 of the District. It is used to account for all financial resources
except those required to be accounted for in another fund.
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 Projects Fund
This fund accounts for the financial resources to be used for the acquisition or construction of major
infrastructure within the District.
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 government’s policy to use
restricted resources first for qualifying expenditures, then unrestricted resources as they are needed.
15
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
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 Investments
The District’s cash and cash equivalents are considered to be cash on hand and demand deposits (interest
and non-interest bearing).
The District has elected to proceed under the Alternative Investment Guidelines as set forth in Section
218.415 (17) Florida Statutes. The District may invest any surplus public funds in the following:
a) The Local Government Surplus Trust Funds, or any intergovernmental investment pool authorized
pursuant to the Florida Inter-local Cooperation Act;
b) Securities and Exchange Commission registered money market funds with the highest credit quality
rating from a nationally recognized rating agency;
c) Interest bearing time deposits or savings accounts in qualified public depositories;
d) 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, unspent Bond proceeds are required to be held in investments as specified in the
Bond Indentures.
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.
Prepaid Items
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, sidewalks
and similar items) are reported in the government activities columns 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 acquisition 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 constructed.
Unearned Revenue
Governmental funds report unearned revenue in connection with resources that have been received, but not
yet earned.
16
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Assets, Liabilities and Net Position or Equity (Continued)
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 over the
life of the Bonds. Bonds payable are reported net of applicable premiums or discounts. Bond issuance costs
are reported as an expense in the year incurred.
In the fund financial statements, governmental fund types recognize premiums and discounts, as well as
issuance costs, during the current 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 withheld from the actual
debt proceeds received, are reported as debt service expenditures.
Deferred Outflows/Inflows of Resources
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, governmental 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 for the 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) that imposed the constraint originally.
Resources accumulated pursuant to stabilization arrangements sometimes are reported in this category.
Assigned fund balance – Includes 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, followed by assigned fund balance and then unassigned fund
balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund
balance classifications could be used.
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.
17
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
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 at the date of the financial statements, and the reported
amounts of revenues and expenditures during the reporting period. Actual results could differ from those
estimates.
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.
a) Each year the District Manager submits to the District Board a proposed operating budget for the fiscal
year commencing the following October 1.
b) Public hearings are conducted to obtain public comments.
c) Prior to October 1, the budget is legally adopted by the District Board.
d) All budget changes must be approved by the District Board.
e) The budgets are adopted on a basis consistent with generally accepted accounting principles.
f) Unused appropriation for annually budgeted funds lapse at the end of the year.
NOTE 4 – DEPOSITS AND INVESTMENTS
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.
Investments
The District’s investments were held as follows at September 30, 2023:
Amortized Cost Fair Value Credit Risk Maturities
First American Government Obligations
Fund - Class Y $ 1,402,651 $ - S&P AAAm
Weighted average of the fund
portfolio: 24 days
US Treasury Notes- Various due dates - 3,116,396 Moodys Aaa 10/31/2023 to 2/29/2024
$ 1,402,651 $ 3,116,396
Custodial credit risk – For an investment, custodial credit risk is the risk that, in the event of the failure of the
counterparty, the District will not be able to recover the value of the investments or collateral securities that
are in the possession of an outside party. The District has no formal policy for custodial risk.
The U.S. Treasury notes are held by the trustee or agent but not in the District’s name. The District has an
unrealized gain on investments of $204,438 as of September 30, 2023.
18
NOTE 4 – DEPOSITS AND INVESTMENTS (Continued)
Investments (Continued)
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.
However, the Bond Indentures limit the type of investments held using unspent 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 three-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 value hierarchy is based on the lowest level of any 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. The District’s investments in the US Treasury
Notes are considered Level 1.
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 remaining investments have been reported at amortized costs above.
NOTE 5 – CAPITAL ASSETS
Capital asset activity for the fiscal year ended September 30, 2023 was as follows:
Additions Reductions
Governmental activities
Capital assets, not being depreciated
Infrastructure under construction $ 2,186,791 $ 11,341,971 $ - $ 13,528,762
Total capital assets, not being depreciated 2,186,791 1 1,341,971 - 1 3,528,762
Governmental activities capital assets, net $ 2 ,186,791 $ 11,341,971 $ - $ 13,528,762
Beginning
Balance
Ending
Balance
The infrastructure intended to serve the District has been estimated at a total cost of approximately
$36,300,000. The infrastructure will include roadways, potable water and wastewater systems, stormwater
improvements, and other infrastructure improvements. A portion of the project costs was expected to be
financed with the proceeds from the issuance of Bonds with the remainder to be funded by the Developer and
conveyed to the District. Upon completion, certain improvements are to be conveyed to others for ownership
and maintenance responsibilities.
19
NOTE 6 – LONG-TERM LIABILITIES
Series 2022
On May 6, 2022, the District issued $12,935,000 of Special Assessment Revenue Bonds, Series 2022
consisting of $1,025,000 Term Bonds Series 2022 due on May 1, 2027 with a fixed interest rate of 4.75% and
$1,300,000 Term Bonds Series 2022 due on May 1, 2032 with a fixed interest rate of 5.0% and $3,895,000
Term Bonds Series 2022 due on May 1, 2042 with a fixed interest rate of 5.375% and $6,715,000 Term
Bonds Series 2022 due on May 1, 2052 with a fixed interest rate of 5.50%. Bonds were issued to finance the
acquisition and construction of certain improvements for the benefit of the District. Interest is to be paid
semiannually on each May 1 and November 1, commencing November 1, 2022. Principal on the Bonds is to
be paid serially commencing May 1, 2023 through May 1, 2052.
The Series 2022 Bonds are subject to redemption at the option of the District prior to their maturity. The
Series 2022 Bonds are subject to extraordinary mandatory redemption prior to their selected maturity in the
manner determined by the Bond Registrar if certain events occurred as outlined in the Bond Indenture.
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, 2023.
Series 2023
On August 23, 2023, the District issued $3,255,000 of Special Assessment Bonds, Series 2023 consisting of
Term Bonds with due dates of May 1, 2030 to May 1 2053 and fixed interest rate ranging from 4.75% to
5.75%. The Bonds were issued to finance the acquisition and construction of certain improvements for the
benefit of the District. Interest is to be paid semiannually on each May 1 and November 1, commencing
November 1, 2023. Principal on the Bonds is to be paid serially commencing May 1, 2024 through May 1,
2053.
The Series 2023 Bonds are subject to redemption at the option of the District prior to their maturity. The
Series 2023 Bonds are subject to extraordinary mandatory redemption prior to their selected maturity in the
manner determined by the Bond Registrar if certain events occurred as outlined in the Bond Indenture.
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, 2023.
Long-term Debt Activity
Changes in long-term liability activity for the fiscal year ended September 30, 2023 were as follows:
Additions Reductions
Governmental activities
Bonds payable:
Series 2022 $ 12,935,000 $ - $ 1 85,000 $ 12,750,000 $ 195,000
Series 2023 - 3 ,255,000 - 3,255,000 45,000
Total $ 12,935,000 $ 3,255,000 $ 1 85,000 $ 16,005,000 $ 240,000
Beginning
Balance
Ending
Balance
Due Within
One Year
20
NOTE 6 – LONG-TERM LIABILITIES (Continued)
Long-term Debt Activity (Continued)
At September 30, 2023, the scheduled debt service requirements on the long-term debt were as follows:
Principal Interest Total
2024 $ 240,000 $ 808,003 $ 1,048,003
2025 2 50,000 852,794 1,102,794
2026 2 65,000 840,919 1,105,919
2027 2 75,000 828,332 1,103,332
2028 2 90,000 815,269 1,105,269
2029-2033 1,685,000 3,845,056 5,530,056
2034-2038 2,205,000 3,348,863 5,553,863
2039-2043 2,885,000 2,684,501 5,569,501
2044-2048 3,795,000 1,798,875 5,593,875
2049-2053 4,115,000 618,400 4,733,400
Total $ 16,005,000 $ 1 6,441,012 $ 32,446,012
Year ending Governmental Activities
September 30:
NOTE 7 – DEVELOPER TRANSACTIONS
The Developer owns a portion of land within the District; therefore, assessment revenues in the general and
debt service funds include the assessments levied on those lots owned by the Developer.
The Developer has advanced the District $1,525,278 in order to fund the capital improvement project, which
is recorded as a liability in the capital projects fund as of September 30, 2023. Subsequent to fiscal year end,
the District reimbursed the Developer for this amount in full with proceeds from the Series 2023 Bonds.
During the current year, the District paid $2,835,586 to the Developer in exchange for infrastructure
improvements.
NOTE 8 – CONCENTRATION
The District’s activity is dependent upon the continued involvement of the Developer, the loss of which could
have a material adverse effect on the District’s operations.
NOTE 9 – MANAGEMENT AGREEMENTS
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 of the District. Under the agreement, the District compensates the management company for
management, accounting, financial reporting, computer 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 of these risks; coverage may not extend to all situations. There
were no settled claims since inception of the District.
21
RIDGE AT APOPKA COMMUNITY DEVELOPMENT DISTRICT
CITY OF APOPKA, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2023
Original & Final
REVENUES
Assessments $ 100,799 $ 100,799 $ -
Developer Contribution - 3,014 3,014
Total revenues 100,799 103,813 3,014
EXPENDITURES
Current:
General government 100,790 80,729 20,061
Total expenditures 100,790 80,729 20,061
Excess (deficiency) of revenues
over (under) expenditures $ 9 23,084 $ 23,075
Fund balance - beginning -
Fund balance - ending $ 23,084
Actual
Amounts
Variance with
Final Budget -
Positive
(Negative)
Budgeted
Amounts
See notes to required supplementary information
22
RIDGE AT APOPKA COMMUNITY DEVELOPMENT DISTRICT
CITY OF APOPKA, FLORIDA
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
The District is required to establish a budgetary system and an approved Annual Budget for 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 must be approved
by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal
year ended September 30, 2023.
23
RIDGE AT APOPKA COMMUNITY DEVELOPMENT DISTRICT
CITY OF APOPKA, FLORIDA
OTHER INFORMATION – DATA ELEMENTS
REQUIRED BY FL STATUTE 218.39(3)(C)
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2023
UNAUDITED
Element Comments
Number of District employees compensated in the last pay period of the
District’s fiscal year being reported.
0
Number of independent contractors compensated to whom nonemployee
compensation was paid in the last month of the District’s fiscal year being
reported.
0
Employee compensation 0
Independent contractor compensation Not applicable
Budget variance report
See the Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual -
General Fund
Ad Valorem taxes; Not applicable
Non ad valorem special assessments;
Special assessment rate Operations and maintenance - N/A
Debt service - N/A
Special assessments collected $976,863
Outstanding Bonds: see Note 6 for details
951 Yamato Road ? Suite 280
Boca Raton, Florida 33431
(561) 994-9299 ? (800) 299-4728
Fax (561) 994-5823
www.graucpa.com
24
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL
REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT
OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
To the Board of Supervisors
Ridge at Apopka Community Development District
City of Apopka, Florida
We have audited, in accordance with the auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards issued
by the Comptroller General of the United States, the financial statements of the governmental activities and
each major fund of Ridge at Apopka Community Development District, City of Apopka, Florida (“District”) as of
and for the fiscal year ended September 30, 2023, 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
22, 2024.
Report on 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 procedures that are appropriate in the
circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose
of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express
an opinion on the effectiveness of the District’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in
internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial
statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a
deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness,
yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section
and was not designed to identify all deficiencies in internal control that might be material weaknesses or,
significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal
control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies
may exist that were not identified.
Report on 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.
25
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 22, 2024
951 Yamato Road ? Suite 280
Boca Raton, Florida 33431
(561) 994-9299 ? (800) 299-4728
Fax (561) 994-5823
www.graucpa.com
26
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE
REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY
RULE 10.556(10) OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
To the Board of Supervisors
Ridge at Apopka Community Development District
City of Apopka, Florida
We have examined Ridge at Apopka Community Development District, City of Apopka, Florida’s (“District”)
compliance with the requirements of Section 218.415, 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, 2023. Management is
responsible for District’s compliance with those requirements. Our responsibility is to express an opinion on
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 assurance about whether the District complied, in all material respects, with the specified
requirements referenced in Section 218.415, Florida Statutes. An examination involves performing
procedures to obtain evidence about whether the District complied with the specified requirements. The
nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of
the risks of material noncompliance, whether due to fraud or error. We believe that the evidence we 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.
We are required to be independent and to meet our other ethical responsibilities in accordance with relevant
ethical requirements relating to the examination engagement.
In our opinion, the District complied, in all material respects, with the aforementioned requirements for the
fiscal year ended September 30, 2023.
This report is intended solely for the information and use of the Legislative Auditing Committee, members of
the Florida Senate and the Florida House of Representatives, the Florida Auditor General, management, and
the Board of Supervisors of Ridge at Apopka Community Development District, City of Apopka, Florida and is
not intended to be and should not be used by anyone other than these specified parties.
May 22, 2024
951 Yamato Road ? Suite 280
Boca Raton, Florida 33431
(561) 994-9299 ? (800) 299-4728
Fax (561) 994-5823
www.graucpa.com
27
MANAGEMENT LETTER PURSUANT TO THE RULES OF
THE AUDITOR GENERAL FOR THE STATE OF FLORIDA
To the Board of Supervisors
Ridge at Apopka Community Development District
City of Apopka, Florida
Report on the Financial Statements
We have audited the accompanying basic financial statements of Ridge at Apopka Community Development
District, City of Apopka, Florida ("District") as of and for the fiscal year ended September 30, 2023 and have
issued our report thereon dated May 22, 2024.
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 Independent 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 315, regarding compliance requirements in
accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated
May 22, 2024, 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 10.550 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:
I. Current year findings and recommendations.
II. Status of prior year findings and recommendations.
III. Compliance with the Provisions of the Auditor General of the State of Florida.
Our management letter is intended solely for the information and use of the Legislative Auditing Committee,
members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General,
Federal and other granting agencies, as applicable, management, and the Board of Supervisors of Ridge at
Apopka Community Development District, City of Apopka, Florida and is not intended to be and should not be
used by anyone other than these specified parties.
We wish to thank Ridge at Apopka Community Development District, City of Apopka, 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 22, 2024
28
REPORT TO MANAGEMENT
I. CURRENT YEAR FINDINGS AND RECOMMENDATIONS
None
II. PRIOR YEAR FINDINGS AND RECOMMENDATIONS
None
III. COMPLIANCE WITH THE PROVISIONS OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
Unless otherwise required 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:
1. 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.
2. There were no significant findings and recommendations made in the preceding annual financial
audit report for the fiscal year ended September 30, 2022.
3. 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, 2023.
4. Noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred,
or are likely to have occurred, that have an effect on the financial statements that is less than
material but which warrants the attention of those charged with governance.
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, 2023.
5. The name or official title and legal authority of the District are disclosed in the notes to the financial
statements.
6. The District has not met one or more of the financial emergency conditions described in Section
218.503(1), Florida Statutes.
7. We applied financial condition assessment procedures and no deteriorating financial conditions were
noted as of September 30, 2023. It is management’s responsibility to monitor financial condition, and
our financial condition assessment was based in part on representations made by management and
the review of financial information provided by same.
8. Management has provided the specific information required by Section 218.39(3)(c) in the Other
Information section of the financial statements on page 23.
SECTION VII
SECTION A
SECTION 1
Kutak Rock LLP
107 West College Avenue, Tallahassee, FL 32301-7707
office 850.692.7300
MEMORANDUM
TO: District Managers and Secretaries
FROM: Kutak Rock LLP
DATE: March 25, 2024
RE: Public Records
Recently, we have seen some confusion regarding who is the person ultimately responsible for the
maintenance of a special district’s (“District”) public records and performing the associated duties.
The purpose of this memorandum is to clarify the roles of the person(s) responsible for maintaining
public records. In addition, it provides a form and process for a) the District’s Secretary to designate
a designee under section 119.011(5), Florida Statutes, and b) the Secretary to appoint a Records
Management Liaison Officer under section 257.36(5)(a), Florida Statutes.
It is important to note the distinction between the Secretary and the Records Management Liaison
Officer. While the Records Management Liaison Officer has some duties related to public records, the
Records Management Liaison Officer reports to the Secretary, and the Secretary has the ultimate
responsibility for the District’s public records.
Records Custodian
Rule 1.1(2) of the standard Rules of Procedure provided by Kutak Rock provides that the Secretary is
the District’s official Custodian of Public Records. The Secretary is often an employee of the district
manager, but sometimes it can be a board member or another person.
The definition of “Custodian of Public Records” in section 119.011(5), F.S., requires the Custodian of
Public Records of a District to be an elected or appointed officer charged with the responsibility of
maintaining the office having public records, or his or her designee. Because the Custodian of Public
Records must be an elected or appointed officer, a district management company cannot be designated
as a Custodian of Public Records. Further, should the Secretary designate someone else under section
119.011(5), F.S., such a designation may not relieve the Secretary of the statutory obligation and so
such designations should be carefully considered. With that said, it may make sense for the Secretary
to appoint a designee to be listed as the Custodian of Public Records in standard contract language
designed to direct public records requests to the appropriate employee of the district manager.
Records Management Liaison Officer
Section 257.36(5)(a), Florida Statutes, requires a District to designate a “Records Management Liaison
Officer.” The standard records retention resolution provided by Kutak Rock provides that the “Records
Custodian,” as defined therein, appoints the Records Management Liaison Officer. Specifically, it
provides:
2
SECTION 1. The District hereby authorizes the District’s records custodian to
appoint a Records Management Liaison Officer and report such appointment to the appropriate
State of Florida agencies. A Records Management Liaison Officer shall be an employee of the
District or the District Manager. The Board, and the District’s records custodian, shall each
have the individual power to remove the Records Management Liaison Officer at any time for
any reason. Immediately following the removal or resignation of a Records Management
Liaison Officer, the District’s records custodian shall appoint a replacement Records
Management Liaison Officer.
SECTION 2. The duties of the Records Management Liaison Officer shall include the
following:
A. serve as the District’s contact with the Florida Department of State, State Library and
Archives of Florida; and
B. coordinate the District’s records inventory; and
C. maintain records retention and disposition forms; and
D. coordinate District records management training; and
E. develop records management procedures consistent with the below Records Retention
Policy, as amended; and
F. participate in the development of the District’s development of electronic record
keeping systems; and
G. submit annual compliance statements; and
H. work with the Florida Department of State, State Library and Archives of Florida to
establish individual retention schedules for the District, from time to time and as may be
necessary; and
I. such other duties as may be assigned by the Board or the District’s records custodian
in the future.
Form and Process
Historically, there has not been a formal process to document the Secretary’s designation of a designee
under section 119.011(5), F.S., or to document the Secretary’s appointment of a Records Management
Liaison Officer to the Board. To remedy this, we have provided a simple form for the Secretary to
complete which is attached as Exhibit A hereto. We recommend the following below process.
Records Custodian
1. The Secretary identifies if there is a need to appoint a designee under section
119.011(5), F.S., and if so, who that designee should be.
2. If there is a need, the Secretary completes the first paragraph of Exhibit A and fills in
the name of the designee in the second paragraph of Exhibit A.
3. The Secretary then signs the form and includes it in the next agenda under manager’s
report as an informational item only, as no Board vote is required.
4. The same process is completed each time a designee is removed or replaced.
Records Management Liaison Officer
1. The Secretary identifies the person who will be appointed the Records Management
Liaison Officer under section 257.36(5)(a), F.S.
2. The Secretary completes the first paragraph of Exhibit A and fills in the name of the
Records Management Liaison Officer in the third paragraph of Exhibit A.
3
3. The Secretary then signs the form and includes it in the next agenda under manager’s
report as an informational item only, as no Board vote is required.
4. The same process is completed each time a Records Management Liaison Officer is
removed or replaced.
Please contact us with any questions.
EXHIBIT A
DESIGNATIONS BY SECRETARY RELATED TO PUBLIC RECORDS
I, __________________, as Secretary of the ____________________________________ District
(“District”) Board of Supervisors, hereby make the following designation and/or appointment:
______________________________________ is designated as a custodian of public records for the
District under section 119.011(5), Florida Statutes. Any prior designation of a designee by a
Secretary is hereby rescinded.
AND/OR
_____________________________________ is appointed as the District’s Records Management
Liaison Officer under section 257.36(5)(a), Florida Statutes. Any prior appointment of a Records
Management Liaison Officer by a Secretary is hereby rescinded.
____________________________________
Printed Name:________________________
Secretary, District Board of Supervisors
Date:_______________________________
George S. Flint Ridge at Apopka Community Development
George S. Flint
Stacie Vanderbilt
SECTION C
SECTION 1
Date check #'s Amount
34//11--34//3301 1100008839--1100008928 $8$1186,,345326..0352 TOTAL $834,788.37
Ridge at Apopka
COMMUNITY DEVELOPMENT DISTRICT
Fiscal Year 2024 Check Register
AP300R YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER RUN 5/23/24 PAGE 1
*** CHECK DATES 03/01/2024 - 04/30/2024 *** RIDGE @ APOPKA - GENERAL FUND
BANK A RIDGE AT APOPKA GF
CHECK VEND# .....INVOICE..... ...EXPENSED TO... VENDOR NAME STATUS AMOUNT ....CHECK.....
DATE DATE INVOICE YRMO DPT ACCT# SUB SUBCLASS AMOUNT #
3/14/24 00018 2/28/24 17343 202402 320-53800-46800 * 650.00
FEB 24 - POND MAINT
AQUATIC WEED MANAGEMENT, INC. 650.00 010083
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/14/24 00017 2/20/24 459061 202402 320-53800-46200 * 3,500.00
1X CLEANUP BUSH HOGGING
3/01/24 459110 202403 320-53800-46200 * 3,000.00
MAR 24 - LANDSCAPE MAINT
BLADE RUNNERS COMMERCIAL 6,500.00 010084
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/14/24 00001 3/01/24 6 202403 310-51300-34000 * 3,125.00
MAR 24 - MGMT FEES
3/01/24 6 202403 310-51300-49500 * 100.00
MAR 24 - WEBSITE ADMIN
3/01/24 6 202403 310-51300-35100 * 150.00
MAR 24 - IT
3/01/24 6 202403 310-51300-31300 * 416.67
MAR 24 - DISSEMINATION
GMS-CENTRAL FLORIDA, LLC 3,791.67 010085
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/14/24 00003 2/16/24 3353442 202401 310-51300-31500 * 386.00
JAN 24 - GENERAL COUNSEL
KUTAK ROCK LLP 386.00 010086
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/14/24 00004 2/14/24 02142024 202402 300-20700-10000 * 569,923.97
2022 DEBT SERVICE
RIDGE AT APOPKA CDD 569,923.97 010087
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/14/24 00005 2/14/24 TAX REC 202402 300-20700-10000 * 237,100.41
TRANSFER TAX REC SER 23
RIDGE AT APOPKA CDD 237,100.41 010088
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/12/24 00018 3/25/24 17497 202403 320-53800-46800 * 650.00
MAR 24 - POND MAINT
AQUATIC WEED MANAGEMENT, INC. 650.00 010089
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/12/24 00017 4/01/24 459166 202404 320-53800-46200 * 3,000.00
APR 24 - LANDSCAPE MAINT
BLADE RUNNERS COMMERCIAL 3,000.00 010090
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/12/24 00001 3/01/24 8 202403 320-53800-34000 * 1,250.00
MAR 24 - FIELD MANAGEMENT
4/01/24 7 202404 310-51300-34000 * 3,125.00
APR 24 - MGMT FEES
4/01/24 7 202404 310-51300-49500 * 100.00
APR 24 - WEBSITE ADMIN
RAPK RIDGE AT APOPK PPOWERS
AP300R YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER RUN 5/23/24 PAGE 2
*** CHECK DATES 03/01/2024 - 04/30/2024 *** RIDGE @ APOPKA - GENERAL FUND
BANK A RIDGE AT APOPKA GF
CHECK VEND# .....INVOICE..... ...EXPENSED TO... VENDOR NAME STATUS AMOUNT ....CHECK.....
DATE DATE INVOICE YRMO DPT ACCT# SUB SUBCLASS AMOUNT #
4/01/24 7 202404 310-51300-35100 * 150.00
APR 24 - IT
4/01/24 7 202404 310-51300-31300 * 416.67
APR 24 - DISSEMINATION
4/01/24 7 202404 310-51300-42500 * 94.65
APR 24 - COPIES
4/01/24 9 202404 320-53800-34000 * 1,250.00
APR 24 - FIELD MANAGEMENT
GMS-CENTRAL FLORIDA, LLC 6,386.32 010091
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/12/24 00009 4/01/24 25530 202404 310-51300-32200 * 6,400.00
AUDIT FY2023
GRAU AND ASSOCIATES 6,400.00 010092
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK A 834,788.37
TOTAL FOR REGISTER 834,788.37
RAPK RIDGE AT APOPK PPOWERS
SECTION 2
Ridge at Apopka
Community Development District
Unaudited Financial Reporting
April 30, 2024
123456789
10
Table of Contents
Balance Sheet
General Fund
Debt Service Fund Series 2022
Capital Project Fund Series 2023
Debt Service Fund Series 2023
Capital Project Fund Series 2022
Assessment Receipt Schedule - Direct
Assessment Receipt Schedule - On Roll
Month to Month
Long Term Debt Report
General Debt Service Capital Project Totals
Fund Fund Fund Governmental Funds
CADDasuuOsseehpe ffe:rrtsroo:ammti nCGgoe Annesctrcraoulu Fcntuitonnd $ 1 8 32 ,, 09 18 44 - $ - -- $ - -- $ 1 8 32 ,, 09 18 44 -
Investments:
SeISCCPRRrniirooeenetesvsnskepetes ri2 raonnte0vrygfus u2emItesc2estinuotannce ------- 88 67 15 ,, 47 381 460 ---- 2 , 3 7 ------ 88 67 215 ,,, 347 738 1 7460 ---
SeICCPRRrnirooeeetesvsnsepetes r2 raonte0vryfus u2emItesc3estinuotannce ---- 12 13 58 ,, 464 561 251 - ------ 12 13 58 ,, 46 4 561 251 ---
Total Assets $ 185,998 $ 2,091,758 $ 2,377 $ 2,280,133
Liabilities: LADDDDauuuucnceeeeod ttttuooooonw LGODtaneetshnnb ePedreta r orSAyaewadlrbvnvlaeiecnrece $ 1 40 ,, 30 50 ---- $ 5 , 0 - 8 ---- $ 3 9 33 ,, 04 - 19 46 --- $ 3 19 3408 ,,,, 0305 1500 4504 --
Total Liabilites $ 14,355 $ 5,008 $ 396,510 $ 415,873
FRAUusenCCDssanaaeitsgppdrbsniiit icttBge Saatndaeell eldrPRfaodv refnroiosc:crje eee:r c-:v tSe -e FrSuieernsid es $ 1 7 1 , 6 - 4 3 - $ 2 , 0 8 6 , 7 5 0 -- $ ( 3 9 4 , 1 - 3 --) $ 2 ( , 03 1 879 614 ,,, 761 543 033 -)
Total Fund Balances $ 171,643 $ 2,086,750 $ (394,133) $ 1,864,261
Total Liabilities & Fund Balance $ 185,998 $ 2,091,758 $ 2,377 $ 2,280,133
Ridge at Apopka
Community Development District
Combined Balance Sheet
April 30, 2024
Page 1
Community Development District
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending April 30, 2024 Adopted Budget PTrhorrua t0e4d/ B3u0d/g2e4t ThruA 0c4tu/a3l0/24 Variance Revenues: SSOpptheeecciiraa Illn AAcssossmeessessmmeennttss -- TDairxe Rctoll $ 1 83 30 ,, 28 08 57 - $ 1 83 30 ,, 28 08 57 - $ 1 83 235,,,789056378 $ 25 ,, 67 23 - Total Revenues $ 214,092 $ 214,092 $ 222,527 $ 8,435
Expenditures:
General & Administrative:
IILPPETTAAAOODDMWnnerontrreniftuatfsefihsbugslgooninuensebtiacesirraetustraspetnlrnrmi,egmia a g na hAetLSeCeenelaeggieiodu y un Acctm&eF Mrnivp&eeraouie e Ree nnrpaD tGnedBreniesgilsoete inniieTbtitennnl sstatFiesie d evCte&Ancnereihehggn aarSsnealygnu norLcbgltieosae/cgbsrDyiilpeitvtyieolnospment $ 24 12555558 ,,,,,,,, 125555900000555 000001700000000 000005500000000 -- $ 12 12548 ,,,,, 112225501559 137899900168 222345700377 ----- $ 2 1225561 ,,,,,,, 11230244889 417890011557 0035670000567 ---- $ (((( 12681126 ( ,,,,,,,, 1111236710349 0013501235667 ( 00356002355777 ---)))))) Total General & Administrative $ 100,790 $ 54,450 $ 46,719 $ 7,732
Operations & Maintenance
Field Expenditures JIISFFLPPPEERAMraniaealreoneqreuneternnursicgelclgtittsldddicairt taesaCnlorhn stuiirMtiircoezm eiccrSiaonea ataeMeepnrttnl idrWre e aoSavRo d iWneMgialen crWespeatavhmesaitioinnecienoerrtandsgesn tn Ccaehnicpes $ 1113 11223444560188 ,,,,,,,,,,,,,, 400000022444777000000000002458000000000000336 $ 12 112222235602 ,,,,,,,,,,,, 277133444567789003000112333469003000133335777 $ 2 231 ,,, 255 005 000 ------------ $ 11122222568 ,,,,,,,,,,, 011233444477789000001123333699000001333335777 Subtotal Field Expenditures $ 113,302 $ 66,093 $ 27,250 $ 38,843
Total Expenditures $ 214,092 $ 120,543 $ 73,969 $ 46,574
Net Change in Fund Balance $ - $ 93,549 $ 148,558 $ 55,010
Fund Balance - Beginning $ - $ 23,085
Fund Balance - Ending $ - $ 171,643
Ridge at Apopka
Page 2
Ridge at Apopka
Community Development District
Debt Service Fund Series 2022
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending April 30, 2024
Adopted Budget PTrhorrua t0e4d/ B3u0d/g2e4t ThruA 0c4tu/a3l0/24 Variance Revenues: ISSnppteeeccriieaasllt AAInssssceeossmssmmeeennttss -- TDairxe Rctoll $ 35 24 69 ,, 18 78 - $$ 25 24 16 ,, 01 27 58 - $ 25 226819,,,049222445 $ 22 38 ,, 47 24 46 -
Total Revenues $ 876,065 $ 767,202 $ 819,372 $ 52,170
Expenditures:
IIPnnrttieenrrceeipsstta --l 15- /151//11 $ 133449115,,,077099011 $$$ 3 4 1 , 7 9 1 -- $ 3 4 1 , 7 9 1 -- $ ---
Total Expenditures $ 878,581 $ 341,791 $ 341,791 $ -
Excess (Deficiency) of Revenues over Expenditures $ (2,516) $ 425,412 $ 477,582 $ 52,170
Other Financing Sources/(Uses):
Transfer In/(Out) $ - $ - $ - $ -
Total Other Financing Sources/(Uses) $ - $ - $ - $ -
Net Change in Fund Balance $ (2,516) $ 425,412 $ 477,582 $ 52,170
Fund Balance - Beginning $ 1,233,526 $ 1,254,640 Fund Balance - Ending $ 1,231,010 $ 1,732,222
Page 3
Ridge at Apopka
Community Development District
Debt Service Fund Series 2023
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending April 30, 2024
Adopted Budget PTrhorrua t0e4d/ B3u0d/g2e4t ThruA 0c4tu/a3l0/24 Variance Revenues: ISSnppteeeccriieaasllt AAInssssceeossmssmmeeennttss -- TDairxe Rctoll $ --- $ --- $ 2 3 37 ,, 61 10 20 - $ 2 3 37 ,, 61 10 20 - Total Revenues $ - $ - $ 240,712 $ 240,712
Expenditures: IIPnnrttieenrrceeipsstta --l 15- /151//11 $ --- $ --- $ 3 4 , 1 6 -- $ ( 3 4 , 1 6 --) Total Expenditures $ - $ - $ 34,116 $ (34,116)
Excess (Deficiency) of Revenues over Expenditures $ - $ - $ 206,597 $ 206,597 Other Financing Sources/(Uses): TBorannds Pferro Icne/e(dOsut) $ -- $ -- $ 8 0 - $ 8 0 - Total Other Financing Sources/(Uses) $ - $ - $ 80 $ 80
Net Change in Fund Balance $ - $ - $ 206,676 $ 206,676
Fund Balance - Beginning $ - $ 147,852 Fund Balance - Ending $ - $ 354,528
Page 4
Ridge at Apopka
Community Development District
Capital Projects Fund Series 2022
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending April 30, 2024
Adopted Budget PTrhorrua t0e4d/ B3u0d/g2e4t ThruA 0c4tu/a3l0/24 Variance Revenues IGDnaetievnre/el(osLtp oIensrsc )Co omonne tIrnibvuestitomnesnts $ --- $ --- 37 35 ,, 05 59 - $ 37 35 ,, 05 59 - Total Revenues $ - $ - $ 108,864 $ 108,864
Expenditures: Improvements $ - $ - 1,240,551 $ (1,240,551)
Total Expenditures $ - $ - $ 1,240,551 $ (1,240,551)
Excess (Deficiency) of Revenues over Expenditures $ - $ - $ (1,131,687) $ (1,131,687)
Other Financing Sources/(Uses) Transfer In/(Out) $ - $ - $ - $ -
Total Other Financing Sources (Uses) $ - $ - $ - $ -
Net Change in Fund Balance $ - $ (1,131,687)
Fund Balance - Beginning $ - $ 740,568
Fund Balance - Ending $ - $ (391,119)
Page 5
Ridge at Apopka
Community Development District
Capital Projects Fund Series 2023
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending April 30, 2024
Adopted Budget PTrhorrua t0e4d/ B3u0d/g2e4t ThruA 0c4tu/a3l0/24 Variance Revenues IDnetevreelostp Ienrc Comonetributions $ -- $ -- $ 7 3 - $ 7 3 - Total Revenues $ - $ - $ 73 $ 73
Expenditures: ICmopstr oofv Iesmsueanntcse $ -- $ -- $ 35,,091245 $$ ((35,,091245))
Total Expenditures $ - $ - $ 8,939 $ (8,939)
Excess (Deficiency) of Revenues over Expenditures $ - $ - $ (8,866) $ (8,866)
Other Financing Sources/(Uses) Interfund Transfer In/(Out) $ - $ - $ (80) $ (80)
Total Other Financing Sources (Uses) $ - $ - $ (80) $ (80)
Net Change in Fund Balance $ - $ (8,946)
Fund Balance - Beginning $ - $ 5,932
Fund Balance - Ending $ - $ (3,014)
Page 6
Ridge at Apopka
Community Development District
Oct Nov Dec Jan Feb March April May June July Aug Sept Total Revenues: Special Assessments SOptheecira Iln Acsosmesesments -- TDairxe Rctoll $ - -- $ 8 3 , 8 - 0 7 - $ - -- $ - -- $ 1 3 5 , 9 5 8 -- $ 2 , 7 - 6 3 - $ - -- $ - -- $ - -- $ - -- $ - -- $ - -- $ 1 83 235,,,789056378 Total Revenues $ - $ 83,807 $ - $ - $ 135,958 $ 2,763 $ - $ - $ - $ - $ - $ - $ 222,527
Expenditures:
General & Administrative: Supervisor Fees - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ PR-FICA - - - - - - - - - - - - - Engineering - - - - - - - - - - - - - Attorney 999 727 - - 386 2,001 1,704 - - - - - 5,816 Boundary Amendment - - - - - - - - - - - - - Annual Audit - - - - - - 6,400 - - - - - 6,400 Assessment Administration - - - - - - - - - - - - - Arbitrage Rebate - - - - - - - - - - - - - Dissemination Agent 417 417 417 417 417 417 417 - - - - - 2,917 Trustee Fees - - - - - - - - - - - - - Management Fees 3,125 3,125 3,125 3,125 3,125 3,125 3,125 - - - - - 21,875 Information Technology 150 150 150 150 150 150 150 - - - - - 1,050 Website Maintenance/Development 100 100 100 1,850 100 100 100 - - - - - 2,450 Telephone - - - - - - - - - - - - - Postage & Delivery - 38 3 - - - - - - - - - 40 Insurance General Liability 5,200 - - - - - - - - - - - 5,200 Printing & Binding - 8 14 - - - 95 - - - - - 117 Legal Advertising - - 283 - - - - - - - - - 283 Other Current Charges - 73 75 74 98 38 38 - - - - - 396 Office Supplies - 0 0 - - - - - - - - - 0 Dues, Licenses & Subscriptions - 175 - - - - - - - - - - 175 Total General & Administrative 9,990 $ 4,812 $ 4,166 $ 5,615 $ 4,276 $ 5,831 $ 12,028 $ - $ - $ - $ - $ - $ 46,719 $
Operations & Maintenance
Expenditures Field Management - $ - $ - $ - $ - $ - $ 2,500 $ - $ - $ - $ - $ - $ 2,500 $ Internet - - - - - - - - - - - - - Electric - - - - - - - - - - - - - Reclaimed Water - - - - - - - - - - - - - Pressure Washing - - - - - - - - - - - - - Porter Services - - - - - - - - - - - - - Landscape Maintenance - 3,000 3,000 3,000 6,500 3,000 3,000 - - - - - 21,500 Fertilization - - - - - - - - - - - - - Engineered Wood Chips - - - - - - - - - - - - - Mulch - - - - - - - - - - - - - Irrigation Repairs - - - - - - - - - - - - - Janitorial Services - - - - - - - - - - - - - Pest Control - - - - - - - - - - - - - Aquatic Maintenance - - 650 650 650 650 650 - - - - - 3,250 Sand - - - - - - - - - - - - -
Subtotal Field Expenditures - $ 3,000 $ 3,650 $ 3,650 $ 7,150 $ 3,650 $ 6,150 $ - $ - $ - $ - $ - $ 27,250 $
Total Operations & Maintenance - $ 3,000 $ 3,650 $ 3,650 $ 7,150 $ 3,650 $ 6,150 $ - $ - $ - $ - $ - $ 27,250 $
Total Expenditures 9,990 $ 7,812 $ 7,816 $ 9,265 $ 11,426 $ 9,481 $ 18,178 $ - $ - $ - $ - $ - $ 73,969 $
Excess (Deficiency) of Revenues over Expenditures (9,990) $ 75,995 $ (7,816) $ (9,265) $ 124,532 $ (6,718) $ (18,178) $ - $ - $ - $ - $ - $ 148,558 $ Net Change in Fund Balance (9,990) $ 75,995 $ (7,816) $ (9,265) $ 124,532 $ (6,718) $ (18,178) $ - $ - $ - $ - $ - $ 148,558 $
Month to Month
Page 7
Ridge at Apopka
Community Development District
Long Term Debt Report
ILBRRROMneoeeeratsnisssetsgeeeudr:irrr enrsPvvvis aOreeettyi l Run FFF ADauuutcmsiatnnntpetaoddde:anu :lBRDd nPaeeitanlqfayiugnnm iicrteeeinomnt e- n5t/1/23 $$$45M188./7a2771x5,55/i9%m2,,3440-u58855m,44.052 A00n0%nual Debt Service $1(2$,913855,,000000) Current Bonds Outstanding $12,750,000
ILBRRROMneoeeeratsnisssetsgeeeudr:irrr enrsPvvvis aOreeettyi l Run FFF ADauuutcmsiatnnntpetaoddde:anu :lBRDd nPaeeitanlqfayiugnnm iicrteeeinomnt e- n5t/1/23 $$$455113./07,111%2535/5% 2,,o455f0 -,55M0 552603a.70x5im0u%m Annual Debt Service $3,255,00$00 Current Bonds Outstanding $3,255,000
Series 2022 Sppecial Assessment Bonds
Series 2023, Special Assessment Bonds
Page 8
GNroests A Asssseessssmmeenntsts $$ 113413,,162225..0449 $$ 555938,,065700..2436 $$ 223426,,196709..4658 $$ 992823,,233726..0315
allocation in % 14.42% 60.44% 25.14% 100.00%
Date Distribution Gross Amount Discoumt/ Penalty Commission Interest Net Receipts O&M Portion
2022 Debt
Service
2023 Debt
Service Total
0022//0099//2244 1111//2203--1111//2228 $ 448938,,477956..5778 $ 1199,,393519..1206 $ -- $ -- $ 44 67 48 ,, 45 25 56 ----------..3627 $ 66 68 ,, 99 69 07 ----------..1448 $ 228809,,263912..1816 $ 11 12 06 ,, 37 27 36 ----------..6729 $ 44 67 48 ,, 45 25 56 ----------..3637
TOTAL $ 982,272.35 $ 39,290.36 $ - $ - $ 942,981.99 $ 135,957.62 $ 569,923.97 $ 237,100.41 $ 942,982.00
41.98% Percent Collected
$ 569,923.96 Balance Remaining to Collect
Ridge at Apopka
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Receipts - Orange County
Fiscal Year 2024
ON ROLL ASSESSMENTS
Page 9
O&M 2022 DS O&M 2022 DS Date/Ck
Ridge Commerce
Center 12/1/23 $ 6,434.25 $ 6,434.25 Wire 11/17
2/1/24 $ 3,217.13 $ 3,217.13 Wire 11/17
4/1/24 $ 19,597.50 $ 19,597.50 Wire 03/26
5/1/24 $ 3,217.12 $ 3,217.12 Wire 11/17
10/1/24 $ 9,652.50
$ 12,868.50 $ 29,250.00 $ 12,868.50 $ 19,597.50
KS Apopka Centerline
Dev 12/1/23 $ 3,624.48 $ 3,624.48 Wire 11/17
2/1/24 $ 1,812.24 $ 1,812.24 Wire 11/17
4/1/24 $ 21,543.65 $ 21,543.65 Wire 03/26
5/1/24 $ 1,812.23 $ 1,812.23 Wire 11/17
10/1/24 $ 10,611.05
$ 7,248.95 $ 32,154.70 $ 7,248.95 $ 21,543.65
Apopka Development
Opportunity 12/1/23 $ 10,431.76 $ 10,431.76 Wire 11/17
2/1/24 $ 5,215.88 $ 5,215.88 Wire 11/17
4/1/24 $ 68,939.57 $ 68,939.57 Wire 03/26
5/1/24 $ 5,215.88 $ 5,215.88
10/1/24 $ 33,955.31 Wire 11/17
$ 20,863.52 $ 102,894.88 $ 20,863.52 $ 68,939.57
Apopka Centerline
Development 12/1/23 $ 21,412.81 $ 21,412.81 Wire 11/17
2/1/24 $ 10,706.41 $ 10,706.41 Wire 11/17
4/1/24 $ 110,943.81 $ 110,943.84 Wire 03/26
5/1/24 $ 10,706.40 $ 10,706.40
10/1/24 $ 54,643.97 Wire 11/17
$ 42,825.62 $ 165,587.78 $ 42,825.62 $ 110,943.84
12/1/23 $ 41,903.30
2/1/24 $ 20,951.66
4/1/24 $ 221,024.53
5/1/24 $ 20,951.63
10/1/24 $ 108,862.83
$ 83,806.59 $ 329,887.36 $ 83,806.59 $ 221,024.56
100% 67%
Invoiced Paid
Ridge at Apopka
COMMUNITY DEVELOPMENT DISTRICT
Direct Assessment Receipts
Fiscal Year 2024
Page 10
SECTION 3
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?????????????????????????????????? ???? ?????????????????? ???????????? ?????????????? ???????????????????? ?????? ??????????????????????
?????? ???????????? ?????????????????????????? ???????????? ???? ?????? ???????????????? ???? ???? ?????????? ?????? ?????? ????????
???????????????? ???? ?????????? ???? ?????????????????????????????? ?????????? ?????????????????????? ???????????????? ???? ???? ??????????????
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?? ?????? ?????? ???????? ???? ?????????????????? ?????? ???? ???????????????? ???????? ?????????????????????????????? ????????????????
?????????????????????? ???????????????????? ???? ????????????????????????????????????????????????????????????????
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119 West Kaley Street, Orlando ?? Reply to: Post Office Box 562001, Orlando, Florida 32856 Phone
(407) 836-2070 ?? Fax (407) 254-6596 ?? Internet: www.ocfelections.gov
April 22, 2024
George Flint, District Manager
Ridge at Apopka CDD
Governmental Management Services
219 East Livingston Street
Orlando, FL 32801
2024
2024 1
Ridge at Apopka CDD.
SECTION 4
LANDOWNER PROXY
RIDGE AT APOPKA COMMUNITY DEVELOPMENT DISTRICT
LANDOWNERS’ MEETING
KNOW ALL MEN BY THESE PRESENTS, that the undersigned, the fee simple owner of the lands
described herein, hereby constitutes and appoints ________________________ (“Proxy Holder”) for and on
behalf of the undersigned, to vote as proxy at the meeting of the landowners of the District to be held at the
offices of GMS-CF, LLC, 219 E. Livingston Street, Orlando, Florida 32801 on November 5, 2024 at 3:00
p.m., and at any adjournments thereof, according to the number of acres of unplatted land and/or platted lots
owned by the undersigned landowner that the undersigned would be entitled to vote if then personally present,
upon any question, proposition, or resolution or any other matter or thing that may be considered at said meeting
including, but not limited to, the election of members of the Board of Supervisors. Said Proxy Holder may
vote in accordance with his or her discretion on all matters not known or determined at the time of solicitation
of this proxy, which may legally be considered at said meeting.
Any proxy heretofore given by the undersigned for said meeting is hereby revoked. This proxy is to
continue in full force and effect from the date hereof until the conclusion of the landowners’ meeting and any
adjournment or adjournments thereof, but may be revoked at any time by written notice of such revocation
presented at the landowners’ meeting prior to the Proxy Holder’s exercising the voting rights conferred herein.
_________________________________
Printed Name of Legal Owner
Signature of Legal Owner Date
______________________________________________
Parcel Description Acreage Authorized Votes
__SEE ATTACHMENT 1__________________________ _____ACRES _______VOTES
[Insert above the street address of each parcel, the legal description of each parcel, or the tax identification
number of each parcel. If more space is needed, identification of parcels owned may be incorporated by
reference to an attachment hereto.]
Total Number of Authorized Votes: ______VOTES
NOTES: Pursuant to Section 190.006(2)(b), Florida Statutes, a fraction of an acre is treated as one (1) acre entitling the
landowner to one vote with respect thereto. Moreover, two (2) or more persons who own real property in common that is
one acre or less are together entitled to only one vote for that real property. If the fee simple landowner is not an individual,
and is instead a corporation, limited liability company, limited partnership or other entity, evidence that the individual
signing on behalf of the entity has the authority to do so should be attached hereto (e.g., bylaws, corporate resolution,
etc.).
ATTACHMENT 1
[PARCEL DESCRIPTION]
INSTRUCTIONS
At the Board meeting, when the landowner’s election is announced, instructions on
how landowners may participate in the election, along with a sample proxy, shall be
provided.
At a landowners meeting, landowners shall organize by electing a chair who shall
conduct the meeting. The chair may be any person present at the meeting. If the chair
is a landowner or proxy holder of a landowner, he or she may nominate candidates and
make and second motions.
Nominations are made from the floor.
After all nominations are made, a ballot is distributed and votes are cast
Each landowner is entitled to one vote for each acre he owns or portion of an acre.
SAMPLE AGENDA
1. Determination of Number of Voting Units Represented
2. Call to Order
3. Election of a Chairman for the Purpose of Conducting the Landowners Meeting
4. Nominations for the Position of Supervisor
5. Casting of Ballots
6. Ballot Tabulation
7. Landowners Questions and Comments
8. Adjournment