VERONA WALK COMMUNITY DEVELOPMENT
DISTRICT

COLLIER COUNTY REGULAR BOARD MEETING & PUBLIC HEARING
JUNE 20, 2019
10:00 A.M.

Special District Services, Inc.
The Oaks Center 2501A Burns Road
Palm Beach Gardens, FL 33410

www.veronawalkcdd.org 561.630.4922 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT
Town Center at Verona Walk 8090 Sorrento Lane
Naples, Florida 34114
REGULAR BOARD MEETING & PUBLIC HEARING
June 20, 2019
10:00 a.m.

Call to Order
Pledge of Allegiance
Proof of Publication…	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public
Approval of Minutes
April 18, 2019 Regular Board Meeting.	Page 3
Public Hearing
Proof of Publication.	Page 7
Receive Public Comment on Fiscal Year 2019/2020 Final Budget
Consider Resolution No. 2019-02 – Adopting a Fiscal Year 2019/2020 Final Budget.	Page 8
Old Business
Update on HOA Notification when Granting Use of CDD Property
New Business
Update on Erosion Repairs
Consider Resolution No. 2019-03 – Adopting a Fiscal Year 2019/2020 Meeting Schedule.	Page 16
Administrative Matters
District Attorney Update
District Engineer Update
Field Inspector Update
District Manager Update
Financials…	Page 18
Statement of Financial Interests-Disclosure – 2018 Form 1, Filing Deadline: July 1, 2019
Board Members Comments
Adjourn

Published Daily Naples, FL 34110

Affidavit of Publication
State of Florida
Counties of Collier and Lee
Before the undersigned they serve as the authority, personally appeared Natalie Zollar who on oath says that she serves as Inside Sales Manager of the Naples Daily News, a daily newspaper published at Naples, in Collier County, Florida; distributed in Collier and Lee counties of Florida; that the attached copy of the advertising was published in said newspaper on dates listed. Affiant further says that the said Naples Daily News is a newspaper published at Na- ples, in said Collier County, Florida, and that the said newspaper has heretofore been continuously published in said Collier County, Florida; distributed in Collier and Lee counties of Florida, each day and has been entered as second class mail matter at the post office in Naples, in said Collier County, Florida, for a period of one year next preceding the first publication of the attached copy of advertisement; and affiant further says that he has neither paid nor promised any person, or corporation any discount, rebate, commission or refund for the purpose of securing this advertisement for publication in the said newspaper.

Customer	Ad Number	Copyline	P.O.#	
VERONA WALK COMMUNITY DEV.	2130156	VERONA WALK COMMUNIT	

Pub Dates
October 5, 2018			

(Signature of affiant)

Sworn to and subscribed before me This October 05, 2018

(Signature of affiant)

VERONA WALK COMMUNITY DEVELOPMENT
DISTRICT FISCAL YEAR 2018/2019 REGULAR MEETING SCHEDULE
NOTICE IS HEREBY GIVEN that
the Board of Supervisors of the Verona Walk Community Development District will hold Regular Meetings at 10:00 a.m. in the Town Center at Verona Walk located at 8090 Sorrento Lane, Naples, Florida 34114, on the following dates:
October 18, 2018
November 15, 2018
January 17, 2019
February 21, 2019
March 21, 2019
April 18, 2019
May 16, 2019
June 20, 2019
July 18, 2019
August 15, 2019
September 19, 2019
The purpose of the meetings is to conduct any business coming before the Board. Meetings are open to the public and will be conducted in accordance  with the provisions of Florida law. Copies of the Agendas for any of the meetings may be obtained from the District’s website or by contacting the District Manager at (239) 444-
5790 and/or toll free at 1-877- 737-4922 prior to the date of the particular meeting.
From time to time one or more Supervisors may participate by telephone; therefore, at the location of these meetings there will be a speaker telephone present so that interested persons can attend the meetings at the above location and be fully informed of the discussions taking place either in person or by telephone communication. Said meetings may be continued as found necessary to a date and time certain as stated on the record.
If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to insure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.
In accordance with the provisions of the Americans with Disabilities Act, any person requiring  special accommodations or an interpreter to participate at any of these meetings should contact the District Manager at (239) 444-5790 and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.

Meetings may be cancelled from time to time without advertised notice.
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT
www.veronawalkcdd.org
October 05, 2018 No.2130156

VERONA WALK COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
APRIL 18, 2019

CALL TO ORDER

The April 18, 2019, Regular Board Meeting of the Verona Walk Community Development District was called to order at 10:00 a.m. in the Town Center at Verona Walk located at 8090 Sorrento Lane, Naples, Florida 34114.

PLEDGE OF ALLEGIANCE

PROOF OF PUBLICATION

Proof of publication was presented that notice of the Regular Board Meeting had been published in the Naples Daily News on October 5, 2018, as part of the District’s Fiscal Year 2018/2019 Regular Meeting Schedule, as legally required.

ESTABLISH A QUORUM

It was determined that the attendance of the following Supervisors constituted a quorum and it was in order to proceed with the meeting:

Chairperson	Diann Cucinella	Present	
Vice Chairman	Patrick Clifford	Absent	
Supervisor	Marilyn Czubkowski	Present	
Supervisor	Jack Hogan	Present	
Supervisor	Michael J. Doyle	Present	

Staff members in attendance were:

District Manager	Kathleen Dailey	Special District Services	
General Counsel	Greg Urbancic (via phone)	Coleman	Yovanovich Koester	
Field Inspector	Bohdan Hirniak		

Also present was District resident, Frank Borowiec.

ADDITIONS OR DELETIONS TO THE AGENDA

There were no additions or deletions to the agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

There were no comments from the public for items not on the agenda.

Page 1 of 4

APPROVAL OF MINUTES
February 21, 2019, Regular Board Meeting

The February 21, 2019, Regular Board Meeting minutes were presented for approval.

A motion was made by Mr. Hogan, seconded by Ms. Czubkowski and passed unanimously approving the minutes of the February 21, 2019, Regular Board Meeting, as presented.

OLD BUSINESS
Discussion Regarding Sign Replacement

Mr. Hirniak stated that there were a total of 234 signs denoting the limits of littoral planting areas that needed to be replaced. He went over pricing from Lykens Sign Tech, which was $88.75 per sign, if 50 signs are done at one time; or $82 per sign, if they are all done at the same time. There was discussion and Mr. Hirniak stated he would survey which signs were down or collapsing and recommend replacing those first. He will also make sure the proposal includes removal of the old signage.

A motion was made by Ms. Czubkowski, seconded by Mr. Doyle and passed unanimously authorizing the finalization of the proposal with Lykens Sign Tech for 50 sign replacements and removals and further authorizes the Chairperson to execute same.

NEW BUSINESS
Update on Littoral Banks and Repair of Washouts

Mr. Hirniak indicated that Napier had provided a proposal in the amount of $44,510.38 to do repairs in 45 different locations. There was discussion for Mr. Hirniak to notate where there were problems with the source causing the erosion.

A motion was made by Ms. Czubkowski, seconded by Mr. Hogan and passed unanimously authorizing the expenditure and for the Chairperson to execute the agreement.

Discussion Regarding Sample Stormwater Management Rules

Mr. Urbancic gave an example of another district that went through the rulemaking process in order to adopt stormwater management rules. He indicated that the procedure includes advertising and one public hearing.

Ms. Czubkowski handed out a resolution passed by the HOA Board of Directors and opined that she believes the District should pass its own or have an agreement with the HOA. She felt that there currently is no cooperation between the ACC, the HOA and Mr. Hirniak doing inspections on behalf of the District. Mr. Hirniak indicated that he had been doing such, but it stopped and he suggested a more formal agreement with the ACC to ensure the District stays informed. Ms. Czubkowski expressed her with the liability if contractors use the CDD to do projects and are not holding the District harmless. Mr. Hirniak indicated he would ask the HOA to add the CDD to the hold harmless in agreements. Ms. Cucinella noted she would speak with the HOA and bring back their comments to the Board.

Consider Approval of Addendum to Clarke Agreement for Spike Rush Treatment

Ms. Cucinella noted that in previous meetings where the Board approved the addition of $87,000 to the budget for additional spike rush treatment, she found it was never on the list of original plants to treat as maintenance and can be added to the agreement for a one-time treatment for $5,000. She indicated that this one-time treatment should get it under control and then can made part of the monthly maintenance at a cost of an additional $625 per month. She added that spike rush has benefits as 10 feet on each side of lake, but the middle areas, especially where narrow, will be kept clear. There was discussion that the one-time $5,000 treatment could be done this year with the remainder added to the budget.

A motion was made by Ms. Czubkowski, seconded by Mr. Hogan and passed unanimously approving the Addendum to the Clarke Agreement for spike rush treatment, as presented.

Consider Resolution No. 2019-01 – Adopting a Fiscal Year 2019/2020 Proposed Budget

Resolution No. 2019-01 was presented, entitled:

RESOLUTION NO. 2019-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE VERONA WALK COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2019/2020; AND PROVIDING AN EFFECTIVE DATE.

As previously discussed, it was the consensus of the Board to zero out the spike rush line item and change lake spraying to $72,500.

A motion was made by Mr. Hogan, seconded by Ms. Czubkowski and passed unanimously to adopt Resolution No. 2019-01, amended, setting the Public Hearing for June 20, 2019, at 10:00 a.m.

ADMINISTRATIVE MATTERS
District Attorney Update

There was no District Attorney update at this time.

District Engineer Update

There was no District Engineer update at this time.

Field Inspector Update

Mr. Hirniak advised that he had received the quality report from Benchmark and the dissolved oxygen and fish life levels of the lake all look good. He indicated that the precipitation in the last three months has been average.

District Manager Update

Ms. Dailey went over the financials.

Ms. Dailey advised that the next meeting was scheduled for May 16, 2019. It was the consensus of the Board to send out an inquiry and cancel the meeting if there are no pressing matters.

BOARD MEMBER COMMENTS

Mr. Doyle commented that the new fountain was gorgeous.

ADJOURNMENT

There being no further business to come before the Board, the Regular Board Meeting was adjourned at 11:02 a.m. on a motion made by Ms. Czubkowski, seconded by Mr. Hogan and passed unanimously.

Secretary/Assistant Secretary	Chair/Vice-Chair

Naples Daily News
May 31, 2019
Miscellaneous Notices

Notice of Public Hearing
and Regular Board Meeting of the Verona Walk Community Development District

The Board of Supervisors of the Verona Walk Community Development District will hold a Public Hearing and Regular Board Meeting on June 20, 2019, at 10:00 a.m., or as soon thereafter as can be heard, at the Town Center at Verona Walk located at 8090 Sorrento Lane, Naples, Florida 34114.
The purpose of the Public Hearing is to receive public comment on the Fiscal Year 2019/2020 Budget of the Verona Walk Community Development District. The purpose of the Regular Board Meeting is for the Board to consider any other business which may properly come before it. A copy of the Budget and/or the Agenda may be obtained from the District's website or at the offices of the District Manager, 2501A Burns Road, Palm Beach Gardens, Florida 33410, during normal business hours. The meetings are open to the public and will be conducted in accordance with the provisions of Florida law.
Meetings may be continued as found necessary to a time and place specified on the record.
There may be occasions when one or more Supervisors will participate by telephone; therefore, a speaker telephone will be present at the meeting location so that Supervisors may be fully informed of the discussions taking place.
In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at these meetings should contact the District Manager at (239) 444-5790 and/or toll-free at 1-877-737- 4922, at least seven (7) days prior to the date of the meetings.
If any person decides to appeal any decision made with respect to any matter considered at this Public Hearing and Regular Board Meeting, such person will need a record of the proceedings and such person may need to ensure that a verbatim record of the proceedings is made at their own expense and which record includes the testimony and evidence on which the appeal is based.
Meetings may be cancelled from time to time without advertised notice.

Verona Walk Community Development District

www.veronawalkcdd.org May 31; Jun 6, 2019
No. 2286934

RESOLUTION NO. 2019-02

A RESOLUTION OF THE VERONA WALK COMMUNITY DEVELOPMENT DISTRICT ADOPTING A FISCAL YEAR 2019/2020 BUDGET.

WHEREAS, the Verona Walk Community Development District (“District”) has prepared a Proposed Budget and Final Special Assessment Roll for Fiscal Year 2019/2020 and has held a duly advertised Public Hearing to receive public comments on the Proposed Budget and Final Special Assessment Roll; and,

WHEREAS, following the Public Hearing and the adoption of the Proposed Budget and Final Assessment Roll, the District is now authorized to levy non ad-valorem assessments upon the properties within the District.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE VERONA WALK COMMUNITY DEVELOPMENT DISTRICT THAT:

Section 1.	The Final Budget and Final Special Assessment Roll for Fiscal Year 2019/2020 attached hereto as Exhibit “A” is approved and adopted, and the assessments set forth therein shall be levied.

Section 2.	The Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with the intent of this Resolution.

PASSED, ADOPTED and EFFECTIVE this 20th day of June, 2019.

ATTEST:	VERONA WALK
COMMUNITY DEVELOPMENT DISTRICT

By: 			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

Verona Walk
Community Development District

Final Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2013) IV	DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2018) V	ASSESSMENT COMPARISON

FINAL BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
O & M ASSESSMENTS	311,297	
DEBT ASSESSMENTS - SERIES 2013	518,105	
DEBT ASSESSMENTS - SERIES 2018	583,256	
OTHER REVENUES	0	
INTEREST INCOME	480	
		
TOTAL REVENUES	$	1,413,138	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
FIELD INSPECTOR	38,000	
VEHICLE - INSURANCE	1,000	
VEHICLE - EQUIPMENT (SMALL TOOLS)	1,545	
VEHICLE - GAS & MAINTENANCE	3,000	
LAKE SPRAYING (CLARK)	72,500	
LAKE WATER QUALITY TESTING (BENCHMARK)	6,000	
LAKE LITTORAL & LAKE BANK PLANTINGS	12,500	
OUTFALL PIPE & STRUCTURE INSPECTION & CLEANING	5,000	
STORM PIPE & EROSION REPAIRS	50,000	
DREDGING	1,000	
MISCELLANEOUS MAINTENANCE	1,000	
TOTAL MAINTENANCE EXPENDITURES	$	191,545	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	3,000	
PAYROLL TAXES (EMPLOYER)	240	
ENGINEERING	15,500	
MANAGEMENT	45,264	
SECRETARIAL	4,200	
LEGAL	17,000	
ASSESSMENT ROLL	10,000	
AUDIT FEES	3,600	
ARBITRAGE REBATE FEE - SERIES 2013	650	
ARBITRAGE REBATE FEE - SERIES 2018	650	
INSURANCE	6,518	
LEGAL ADVERTISING	1,800	
MISCELLANEOUS/CONTINGENCY	2,500	
POSTAGE	800	
OFFICE SUPPLIES	1,200	
DUES & SUBSCRIPTIONS	175	
WEBSITE MANAGEMENT	2,000	
TRUSTEE FEES - SERIES 2013	4,730	
TRUSTEE FEES - SERIES 2018	4,100	
CONTINUING DISCLOSURE FEE - SERIES 2013	1,000	
CONTINUING DISCLOSURE FEE - SERIES 2018	1,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	125,927	
		
TOTAL EXPENDITURES	$	317,472	
		
REVENUES LESS EXPENDITURES	$	1,095,666	
		
BOND PAYMENTS (SERIES 2013)	(479,247)	
BOND PAYMENTS (SERIES 2018)	(539,512)	
		
BALANCE	$	76,907	
		
COUNTY APPRAISER & TAX COLLECTOR ADMINISTRATIVE COSTS	(48,737)	
DISCOUNTS FOR EARLY PAYMENTS	(57,212)	
		
EXCESS/ (SHORTFALL)	$	(29,042)	
		
CARRYOVER FROM PRIOR YEAR	29,042	
		
NET EXCESS/ (SHORTFALL)	$	-	

Note: Projected Available Funds Balance As Of 9-30-19 is $420,000

DETAILED FINAL BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018 ACTUAL	
FISCAL YEAR 2018/2019 BUDGET	
FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	
O & M ASSESSMENTS	311,764	311,297	311,297	Expenditures Less Interest & Carryover/.925	
DEBT ASSESSMENTS - SERIES 2013	520,265	518,105	518,105	Bond Payments/.925	
DEBT ASSESSMENTS - SERIES 2018	688,808	583,256	583,256	Bond Payments/.925	
OTHER REVENUES	0	0	0		
INTEREST INCOME	674	420	480	Interest Projected At $40 Per Month	
					
TOTAL REVENUES	$	1,521,511	$	1,413,078	$	1,413,138		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
FIELD INSPECTOR	33,562	38,000	38,000	No Change From 2018/2019 Budget	
VEHICLE - INSURANCE	563	1,000	1,000	No Change From 2018/2019 Budget	
VEHICLE - EQUIPMENT (SMALL TOOLS)	0	1,545	1,545	No Change From 2018/2019 Budget	
VEHICLE - GAS & MAINTENANCE	331	4,160	3,000	$1,160 Decrease From 2018/2019 Budget	
LAKE SPRAYING (CLARK)	56,700	65,000	72,500	$7,500 Increase From 2018/2019 Budget	
LAKE WATER QUALITY TESTING (BENCHMARK)	4,104	6,000	6,000	Lake Water Quality Testing (Benchmark)	
LAKE LITTORAL & LAKE BANK PLANTINGS	4,100	20,000	12,500	$7,500 Decrease From 2018/2019 Budget	
OUTFALL PIPE & STRUCTURE INSPECTION & CLEANING	0	5,000	5,000	Outfall Pipe & Structure Inspection & Cleaning	
STORM PIPE & EROSION REPAIRS	37,981	50,000	50,000	Storm Pipe & Erosion Repairs	
DREDGING	0	3,640	1,000	Maintenance Mowing & Dredging	
MISCELLANEOUS MAINTENANCE	2,820	0	1,000	Miscellaneous Maintenance	
TOTAL MAINTENANCE EXPENDITURES	$	140,161	$	194,345	$	191,545		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	1,200	4,000	3,000	Supervisor Fees	
PAYROLL TAXES (EMPLOYER)	92	320	240	8% Of Supervisor Fees	
ENGINEERING	5,322	17,500	15,500	$2,000 Decrease From 2018/2019 Budget	
MANAGEMENT	43,512	44,424	45,264	CPI Adjustment	
SECRETARIAL	4,200	4,200	4,200	No Change From 2018/2019 Budget	
LEGAL	11,163	17,500	17,000	2018/2019 Expenditures Through Jan 2019 Were $1,882	
ASSESSMENT ROLL	10,000	10,000	10,000	As Per Contract	
AUDIT FEES	3,400	3,500	3,600	Accepted Amount For 2018/2019 Audit	
ARBITRAGE REBATE FEE - SERIES 2013	650	650	650	No Change From 2018/2019 Budget	
ARBITRAGE REBATE FEE - SERIES 2018	650	650	650	No Change From 2018/2019 Budget	
INSURANCE	5,925	6,518	6,518	Insurance Estimate	
LEGAL ADVERTISING	2,604	2,000	1,800	Expenditures Were Higher In 17/18 Due To Refunding	
MISCELLANEOUS/CONTINGENCY	1,654	2,500	2,500	No Change From 2018/2019 Budget	
POSTAGE	1,825	800	800	Expenditures Were Higher In 17/18 Due To Refunding	
OFFICE SUPPLIES	2,906	1,200	1,200	Expenditures Were Higher In 17/18 Due To Refunding	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2018/2019 Budget	
WEBSITE MANAGEMENT	1,500	1,500	2,000	$500 Increase From 2018/2019 Budget	
TRUSTEE FEES - SERIES 2013	4,300	4,730	4,730	Trustee (US Bank) Increased Fees In 2018/2019	
TRUSTEE FEES - SERIES 2018	3,715	4,100	4,100	Trustee (US Bank) Increased Fees In 2018/2019	
CONTINUING DISCLOSURE FEE - SERIES 2013	1,000	1,000	1,000	No Change From 2018/2019 Budget	
CONTINUING DISCLOSURE FEE - SERIES 2018	1,000	1,000	1,000	No Change From 2018/2019 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	106,793	$	128,267	$	125,927		
					
TOTAL EXPENDITURES	$	246,954	$	322,612	$	317,472		
					
REVENUES LESS EXPENDITURES	$	1,274,557	$	1,090,466	$	1,095,666		
					
BOND PAYMENTS (SERIES 2013)	(487,423)	(479,247)	(479,247)	2019 P & I Payments	
BOND PAYMENTS (SERIES 2018)	(645,319)	(539,512)	(539,512)	2019 P & I Payments	
					
BALANCE	$	141,815	$	71,707	$	76,907		
					
COUNTY APPRAISER & TAX COLLECTOR ADMINISTRATIVE COSTS	(20,616)	(48,737)	(48,737)	Three And One Half Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(56,707)	(57,212)	(57,212)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	64,492	$	(34,242)	$	(29,042)		
					
CARRYOVER FROM PRIOR YEAR	0	34,242	29,042	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	64,492	$	-	$	-		

Note: Projected Available Funds Balance As Of 9-30-19 is $420,000

DETAILED FINAL DEBT SERVICE (SERIES 2013) FUND BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
5,018	
100	
150	
Projected Interest For 2019/2020	

NAV Collection	
487,423	
479,247	
479,247	
Maximum Debt Service Collection	

Prepaid Bond Collection	
24,184	
0	
0	
Prepaid Bond Collection	

Total Revenues	
$	516,625	
$	479,347	
$	479,397		

EXPENDITURES					

Principal Payments (2013A-1)	
220,000	
220,000	
230,000	
Principal Payment Due In 2020	

Principal Payments (2013A-2)	
25,000	
25,000	
25,000	
Principal Payment Due In 2020	

Interest Payments (2013A-1)	
223,326	
214,156	
205,931	
Interest Payments Due In 2020	

Interest Payments (2013A-2)	
17,750	
16,063	
14,938	
Interest Payments Due In 2020	

Bond Redemption	
30,000	
4,128	
3,528	
Estimated Excess Debt Collections	

Total Expenditures	
$	516,076	
$	479,347	
$	479,397		

Excess/ (Shortfall)	
$	549	
$	-	
$	-		

Series 2013A-1 Bond Refunding Information	
Original Par Amount =	$6,455,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	1.1% - 4.375%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	June 2013			
Maturity Date =	May 2035			
Par Amount As Of 1/1/19 =	$5,300,000			

Series 2013A-2 Bond Refunding Information	
Original Par Amount =	$650,000	Annual Principal Payments Due =	May 1st	
Interest Rate =
Issue Date =	4.5% - 5.0%
June 2013	Annual Interest Payments Due =	May 1st & November 1st	
Maturity Date =	May 2035			
Par Amount As Of 1/1/19 =	$345,000			

DETAILED FINAL DEBT SERVICE (SERIES 2018) FUND BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	621	100	150	
Projected Interest For 2019/2020	

NAV Collection	
645,319	
539,512	
539,512	
Maximum Debt Service Collection	

Prepaid Bond Collection	
0	
0	
0	
Prepaid Bond Collection	

Total Revenues	
$	645,940	
$	539,612	
$	539,662		

EXPENDITURES					

Principal Payments	
225,000	
297,000	
307,000	
Principal Payment Due In 2020	

Interest Payments	
411,322	
241,101	
231,286	
Interest Payments Due In 2020	

Bond Redemption	
0	
1,511	
1,376	
Estimated Excess Debt Collections	

Total Expenditures	
$	636,322	
$	539,612	
$	539,662		

Excess/ (Shortfall)	
$	9,618	
$	-	
$	-		

Series 2018 Bond Refunding Information
Original Par Amount =	$7,677,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.25% - 5.375%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	March 2018			
Maturity Date =

Par Amount As Of 1/1/19 =	May 2037

$7,567,000			

Verona Walk Community Development District Assessment Comparison

Lot Size
Phase One		Fiscal Year 2015/2016
Assessment*	Fiscal Year 2016/2017
Assessment*	Fiscal Year 2017/2018
Assessment*	Fiscal Year 2018/2019
Assessment*	Fiscal Year 2019/2020
Projected Assessment*	
Townhome 26'	O & M	$	162.13	$	162.13	$	162.13	$	162.13	$	162.13	
Cayman	Debt	$	540.00	$	540.00	$	540.00	$	540.00	$	540.00	
	Total	$	702.13	$	702.13	$	702.13	$	702.13	$	702.13	
							
Duplex 36'	O & M	$	162.13	$	162.13	$	162.13	$	162.13	$	162.13	
Capri/Carrington	Debt	$	540.00	$	540.00	$	540.00	$	540.00	$	540.00	
	Total	$	702.13	$	702.13	$	702.13	$	702.13	$	702.13	
							
Single Family 50'	O & M	$	162.13	$	162.13	$	162.13	$	162.13	$	162.13	
Oakmont	Debt	$	635.00	$	635.00	$	635.00	$	635.00	$	635.00	
	Total	$	797.13	$	797.13	$	797.13	$	797.13	$	797.13	
							
Single Family 60'	O & M	$	162.13	$	162.13	$	162.13	$	162.13	$	162.13	
Carlyle	Debt	$	730.00	$	730.00	$	730.00	$	730.00	$	730.00	
	Total	$	892.13	$	892.13	$	892.13	$	892.13	$	892.13	

Phase Two							
Duplex 36'/SF 40'	O & M	$	162.13	$	162.13	$	162.13	$	162.13	$	162.13	
Capri/Carrington	Debt	$	600.00	$	600.00	$	600.00	$	511.00	$	511.00	
	Total	$	762.13	$	762.13	$	762.13	$	673.13	$	673.13	
							
Single Family 40'	O & M	$	162.13	$	162.13	$	162.13	$	162.13	$	162.13	
Garden	Debt	$	678.00	$	678.00	$	678.00	$	577.00	$	577.00	
	Total	$	840.13	$	840.13	$	840.13	$	739.13	$	739.13	
							
Single Family 50'	O & M	$	162.13	$	162.13	$	162.13	$	162.13	$	162.13	
Oakmont	Debt	$	706.00	$	706.00	$	706.00	$	601.00	$	601.00	
	Total	$	868.13	$	868.13	$	868.13	$	763.13	$	763.13	
							
Single Family 60'	O & M	$	162.13	$	162.13	$	162.13	$	162.13	$	162.13	
Carlyle	Debt	$	812.00	$	812.00	$	812.00	$	691.00	$	691.00	
	Total	$	974.13	$	974.13	$	974.13	$	853.13	$	853.13	
							
Single Family 65'	O & M	$	162.13	$	162.13	$	162.13	$	162.13	$	162.13	
Estate	Debt	$	892.00	$	892.00	$	892.00	$	759.00	$	759.00	
	Total	$	1,054.13	$	1,054.13	$	1,054.13	$	921.13	$	921.13	

* Assessments Include the Following 4% Discount for Early Payments
2% County Property Appraiser Costs 1.5% County Tax Collector Costs

Community Information:
Phase I
No. of Units	
Type	
Front Footage	
Name	Maximum Annual
Debt Assessment	
Bond Prepayments	Lot
Differential Prepayment*	
246	Townhome	26'	Cayman	$	540	6	68	
350	Duplex	36'	Capri/Carrington	$	540	11	0	
242	Single Family	50'	Oakmont	$	635	6	-35	
97	Single Family	60'	Carlyle	$	730	0	1	
935					23	34	

Phase II
No. of Units	
Type	
Front Footage	
Name	Maximum Annual
Debt Assessment	
Bond Prepayments	Lot Disclosure
Differential Prepayment**	
443	Duplex/SF	36'/40'	Capri/Carrington	$	511	7	-4	
58	Duplex	40'	Garden	$	577	0	4	
325	SF	50'	Oakmont	$	601	6	0	
161	SF	60'/65'	Carlyle	$	691	0	0	
32	SF	65'	Estate	$	759	0	0	
1019					13	0	

* Developer made Bond Prepayment in August 2014 for 34 lot differential (68 Phase 1 Caymans replaced with 34 Oakmonts)
* Developer made Bond Prepayment in November 2014 for 1 lot differential (1 Phase 1 Carlyle replaced with 1 Oakmont)
** Developer built Carrington Homes on Garden Lots (Karina Street) - Debt Assessments for those lots was $678 - now $577.
** Developer made Bond Prepayment in November 2014 for 4 lot disclosure differential (4 40' disclosed at 36'/40' rate) Total Lots Assessed For O&M = 1920

V	Page 15

RESOLUTION NO. 2019-03

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE VERONA WALK COMMUNITY DEVELOPMENT DISTRICT, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2019/2020 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, it is necessary for the Verona Walk Community Development District ("District") to establish a regular meeting schedule for fiscal year 2019/2020; and

WHEREAS, the Board of Supervisors of the District has set a regular meeting schedule, location and time for District meetings for fiscal year 2019/2020 which is attached hereto and made a part hereof as Exhibit “A”.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE VERONA WALK COMMUNITY DEVELOPMENT DISTRICT, LEE COUNTY, FLORIDA, AS FOLLOWS:

Section 1. The above recitals are hereby adopted.

Section 2.    The regular meeting schedule, time and location for meetings for fiscal    year 2019/2020 which is attached hereto as Exhibit “A” is hereby adopted and authorized to be published.

PASSED, ADOPTED and EFFECTIVE this 20th day of June, 2019.

ATTEST:	VERONA WALK
COMMUNITY DEVELOPMENT DISTRICT

By: 			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

VERONA WALK COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2019/2020 REGULAR MEETING SCHEDULE

NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Verona Walk Community Development District will hold Regular Meetings at 10:00 a.m. in the Town Center at Verona Walk located at 8090 Sorrento Lane, Naples, Florida 34114, on the following dates:

October 17, 2019
November 21, 2019
December 19, 2019
January 16, 2020
February 20, 2020
March 19, 2020
April 16, 2020
May 21, 2020
June 18, 2020
July 16, 2020
August 20, 2020
September 17, 2020

The purpose of the meetings is to conduct any business coming before the Board. Meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Copies of the Agendas for any of the meetings may be obtained from the District’s website or by contacting the District Manager at (239) 444-5790 and/or toll free at 1-877-737-4922 prior to the date of the particular meeting.

From time to time one or more Supervisors may participate by telephone; therefore, at the location of these meetings there will be a speaker telephone present so that interested persons can attend the meetings at the above location and be fully informed of the discussions taking place either in person or by telephone communication. Said meetings may be continued as found necessary to a date and time certain as stated on the record.

If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to insure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.

In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at any of these meetings should contact the District Manager at (239) 444-5790 and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.

Meetings may be cancelled from time to time without advertised notice.

VERONA WALK COMMUNITY DEVELOPMENT DISTRICT

www.veronawalkcdd.org

PUBLISH: NAPLES DAILY NEWS	10/05/18

Verona Walk Community Development District

Financial Report For May 2019

VERONA WALK COMMUNITY DEVELOPMENT DISTRICT MONTHLY FINANCIAL REPORT
MAY 2019

REVENUES	Annual Budget
10/1/18 - 9/30/19	
Actual May-19	Year To Date Actual
10/1/18 - 5/31/19	
O & M ASSESSMENTS	311,297	1,270	310,672	
DEBT ASSESSMENTS - SERIES 2013	518,105	2,113	510,306	
DEBT ASSESSMENTS - SERIES 2018	582,926	2,379	586,679	
OTHER REVENUES	0	0	0	
INTEREST INCOME	420	0	638	
				
TOTAL REVENUES	$	1,412,748	$	5,762	$	1,408,295	
				
EXPENDITURES				
MAINTENANCE EXPENDITURES				
FIELD INSPECTOR	38,000	3,083	24,667	
VEHICLE - INSURANCE	1,000	0	563	
VEHICLE - EQUIPMENT (SMALL TOOLS)	1,545	0	0	
VEHICLE - GAS & MAINTENANCE	4,160	11	89	
LAKE SPRAYING (CLARK)	65,000	4,725	39,322	
LAKE WATER QUALITY TESTING (BENCHMARK)	6,000	0	2,112	
LAKE LITTORAL & LAKE BANK PLANTINGS	20,000	0	0	
OUTFALL PIPE & STRUCTURE INSPECTION & CLEANING	5,000	0	0	
STORM PIPE & EROSION REPAIRS	50,000	0	0	
DREDGING	3,640	0	0	
MISCELLANEOUS MAINTENANCE (ENVIRONMENTAL SERVICES)	0	0	5,700	
TOTAL MAINTENANCE EXPENDITURES	$	194,345	$	7,819	$	72,453	
				
ADMINISTRATIVE EXPENDITURES				
SUPERVISOR FEES	4,000	0	800	
PAYROLL TAXES (EMPLOYER)	320	0	61	
ENGINEERING	17,500	0	1,984	
MANAGEMENT	44,424	3,702	29,616	
SECRETARIAL	4,200	350	2,800	
LEGAL	17,500	0	3,409	
ASSESSMENT ROLL	10,000	0	0	
AUDIT FEES	3,500	1,000	1,000	
ARBITRAGE REBATE FEE - SERIES 2013	650	0	0	
ARBITRAGE REBATE FEE - SERIES 2018	650	0	0	
INSURANCE	6,518	0	5,277	
LEGAL ADVERTISING	2,000	0	343	
MISCELLANEOUS/CONTINGENCY	2,500	81	557	
POSTAGE	800	37	179	
OFFICE SUPPLIES	1,200	88	366	
DUES & SUBSCRIPTIONS	175	0	175	
WEBSITE MANAGEMENT	1,500	125	1,000	
TRUSTEE FEES - SERIES 2013	4,730	0	0	
TRUSTEE FEES - SERIES 2018	4,100	0	3,709	
CONTINUING DISCLOSURE FEE - SERIES 2013	1,000	0	1,000	
CONTINUING DISCLOSURE FEE - SERIES 2018	1,000	0	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	128,267	$	5,383	$	52,276	
				
TOTAL EXPENDITURES	$	322,612	$	13,202	$	124,729	
				
REVENUES LESS EXPENDITURES	$	1,090,136	$	(7,440)	$	1,283,566	
				
BOND PAYMENTS (SERIES 2013)	(479,247)	(2,071)	(486,830)	
BOND PAYMENTS (SERIES 2018)	(539,207)	(2,332)	(548,049)	
				
BALANCE	$	71,682	$	(11,843)	$	248,687	
				
ADMINISTRATIVE COSTS	(48,725)	(115)	(27,089)	
DISCOUNTS FOR EARLY PAYMENTS	(57,199)	0	(52,571)	
				
EXCESS/ (SHORTFALL)	$	(34,242)	$	(11,958)	$	169,027	
				
CARRYOVER FROM PRIOR YEAR	34,242	0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	(11,958)	$	169,027	

Bank Balance As Of 4/30/19	$	698,943.89	
Funds Received: 5/1/19 - 5/31/19	$	5,647.47	
Disbursements: 5/1/19 - 5/31/19	$	47,998.58	
Bank Balance As Of 5/31/19	$	656,592.78	
Accounts Payable As Of 5/31/19	$	32,555.11	
Accounts Receivable As Of 5/31/19	$	-	
Available Funds As Of 5/31/19	$	624,037.67	

Verona Walk Community Development District
Budget vs. Actual
October 2018 through May 2019

Oct '18 - May 19	18-19 Budget	$ Over Budget	% of Budget
   
Income

363.100 · O & M Assessment Income	310,672.41		311,297.00		-624.59		99.8%	
363.812 · Debt Assessments (Series 2013)	510,305.95		518,105.00		-7,799.05		98.5%	
363.813 · Deb Assessments (Series 2018)	586,678.80		582,926.00		3,752.80		100.64%	
363.822 · Debt Assessmnt-Pd To Trustee-13	-486,830.28		-479,247.00		-7,583.28		101.58%	
363.823 · Debt Assessmnt-Pd To Trustee-18	-548,049.00		-539,207.00		-8,842.00		101.64%	
363.830 · Assessment Fees	-27,089.38		-48,725.00		21,635.62		55.6%	
363.831 · Discounts For Early Payments	-52,570.72		-57,199.00		4,628.28		91.91%	
369.399 · Carryover From Prior Year	0.00		34,242.00		-34,242.00		0.0%	
369.401 · Interest Income	638.47		420.00		218.47		152.02%	
Total Income	293,756.25		322,612.00		-28,855.75		91.06%	
Expense								
511.122 · Payroll Tax Expense	61.20		320.00		-258.80		19.13%	
511.131 · Supervisor Fees	800.00		4,000.00		-3,200.00		20.0%	
511.306 · Dredging	0.00		3,640.00		-3,640.00		0.0%	
Miscellaneous Maintenance (Environmental Services)	5,700.00		0.00		5,700.00		100.0%	
511.310 · Engineering	1,984.36		17,500.00		-15,515.64		11.34%	
511.311 · Management Fees	29,616.00		44,424.00		-14,808.00		66.67%	
511.312 · Secretarial Fees	2,800.00		4,200.00		-1,400.00		66.67%	
511.315 · Legal Fees	3,409.25		17,500.00		-14,090.75		19.48%	
511.318 · Assessment/Tax Roll	0.00		10,000.00		-10,000.00		0.0%	
511.320 · Audit Fees	1,000.00		3,500.00		-2,500.00		28.57%	
511.450 · Insurance	5,277.00		6,518.00		-1,241.00		80.96%	
511.480 · Legal Advertisements	343.00		2,000.00		-1,657.00		17.15%	
511.512 · Miscellaneous	557.17		2,500.00		-1,942.83		22.29%	
511.513 · Postage and Delivery	179.45		800.00		-620.55		22.43%	
511.514 · Office Supplies	365.50		1,200.00		-834.50		30.46%	
511.540 · Dues, License & Subscriptions	175.00		175.00		0.00		100.0%	
511.750 · Website Management	1,000.00		1,500.00		-500.00		66.67%	
512.736 · Continuing Disclosure Fee 2013	1,000.00		1,000.00		0.00		100.0%	
512.738 · Continuing Disclosure Fee 06-18	0.00		1,000.00		-1,000.00		0.0%	
513.330 · Arbitrage Rebate Fee-Series 13	0.00		650.00		-650.00		0.0%	
513.733 · Trustee Fees - Series 2013	0.00		4,730.00		-4,730.00		0.0%	
514.101 · Field Inspector	24,666.64		38,000.00		-13,333.36		64.91%	
514.103 · Vehicle Insurance	562.29		1,000.00		-437.71		56.23%	
514.104 · Vehicle Equipment (small tools)	0.00		1,545.00		-1,545.00		0.0%	
514.105 · Vehicle Gas and Maintenance	89.32		4,160.00		-4,070.68		2.15%	
514.106 · Lake Spraying (Clark)	39,322.00		65,000.00		-25,678.00		60.5%	
514.107 · Lake H2O Quality Tests-Benchmrk	2,112.00		6,000.00		-3,888.00		35.2%	
514.108 · Lake Littoral & Lake Bank Plant	0.00		20,000.00		-20,000.00		0.0%	
514.109 · Outfall Pipe & Structure Insp &	0.00		5,000.00		-5,000.00		0.0%	
514.110 · Storm Pipe & Erosion Repairs	0.00		50,000.00		-50,000.00		0.0%	
514.330 · Arbitrage Rebate Fee (2018)	0.00		650.00		-650.00		0.0%	
514.733 · Trustee Fees (2018)	3,708.75		4,100.00		-391.25		90.46%	
Total Expense	124,728.93		322,612.00		-197,883.07		38.66%	
Net Income	 	169,027.32		 	0.00		 	169,027.32		 	100.0%	

Verona Walk Community Development District
Balance Sheet
As of May 31, 2019

ASSETS
Current Assets

Operating Fund	Debt Service (13) Fund Debt Service (18) Fund

General Fixed
Assets Fund	Long Term Debt Fund	TOTAL

Operating Bank Accoun	656,592.78		0.00		0.00		0.00		0.00		656,592.78	
Total Current Assets	656,592.78		0.00		0.00		0.00		0.00		656,592.78	
Fixed Assets												
Storm Water Management	0.00		0.00		0.00		15,481,040.00		0.00		15,481,040.00	
Accumulated Depreciation - Stormwater Mgt	0.00		0.00		0.00		-6,192,420.00		0.00		-6,192,420.00	
Total Fixed Assets	0.00		0.00		0.00		9,288,620.00		0.00		9,288,620.00	
Other Assets												
A/R Assessment Income	0.00		0.00		0.00		0.00		0.00		0.00	
A/R Non Ad Valorem Receipts	0.00		0.00		0.00		0.00		0.00		0.00	
Investments - Construction	0.00		0.00		0.00		0.00		0.00		0.00	
Investments - Interest Acc	0.00		0.00		7.07		0.00		0.00		7.07	
Investments - Reserve Acc	0.00		242,406.25		50,159.47		0.00		0.00		292,565.72	
Investments - Revenue Acc	0.00		125,226.28		182,902.72		0.00		0.00		308,129.00	
Investments - Prepayment Acc	0.00		1,806.27		0.00		0.00		0.00		1,806.27	
Investments - Excess Revenue	0.00		3,018.88		0.00		0.00		0.00		3,018.88	
Amount Available In DSF (2013	0.00		0.00		0.00		0.00		372,457.68		372,457.68	
Amount Available In DSF (2018	0.00		0.00		0.00		0.00		233,069.26		233,069.26	
5155000 · Amount To Be Provided	0.00		0.00		0.00		0.00		12,059,473.06		12,059,473.06	
Total Other Assets	0.00		372,457.68		233,069.26		0.00		12,665,000.00		13,270,526.94	
TOTAL ASSETS	656,592.78		372,457.68		233,069.26		9,288,620.00		12,665,000.00		23,215,739.72	

LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accrued Expenses	0.00		0.00		0.00		0.00		0.00		0.00	
Accounts Payable	32,555.11		0.00		0.00		0.00		0.00		32,555.11	

Total Current Liabilities	
32,555.11		
0.00		
0.00		
0.00		
0.00		
32,555.11	
Long Term Liabilities												
Special Assessment Debt (2006)	0.00		0.00		0.00		0.00		0.00		0.00	
Special Assessment Debt (2013A-1)	0.00		0.00		0.00		0.00		5,075,000.00		5,075,000.00	
Special Assessment Debt (2013A-2)	0.00		0.00		0.00		0.00		320,000.00		320,000.00	
Special Assessment Debt-2018	0.00		0.00		0.00		0.00		7,270,000.00		7,270,000.00	
Total Long Term Liabilities	0.00		0.00		0.00		0.00		12,665,000.00		12,665,000.00	

Total Liabilities	
32,555.11		
0.00		
0.00		
0.00		
12,665,000.00		
12,697,555.11	
Equity												
Retained Earnings	455,010.35		382,193.16		238,580.61		-6,192,420.00		0.00		-5,116,635.88	
Current Year Depreciation	0.00		0.00		0.00		0.00		0.00		0.00	
Net Income	169,027.32		-9,735.48		-5,511.35		0.00		0.00		153,780.49	
Investment In Gen Fixed Asset	0.00		0.00		0.00		15,481,040.00		0.00		15,481,040.00	
Total Equity	624,037.67		372,457.68		233,069.26		9,288,620.00		0.00		10,518,184.61	

TOTAL LIABILITIES & EQUITY	
656,592.78		
372,457.68		
233,069.26		
9,288,620.00		
12,665,000.00		
23,215,739.72