VERONA WALK COMMUNITY DEVELOPMENT
DISTRICT

COLLIER COUNTY REGULAR BOARD MEETING JANUARY 16, 2020
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
January 16, 2020
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
October 17, 2019 Regular Board Meeting.	Page 2
Old Business
Update Regarding Vendors (CDD and/or HOA) use of District Property
Discussion Regarding Working Relationship with the Landscape & Irrigation Committee
New Business
Consider Resolution No. 2020-01 – Establishing Polies and Procedures for ACC Process…	Page 6
Discussion Regarding Language to be used for Installation of Drainpipes into the Ponds (Liability/Length for Stabilization/Insurance)
Discussion Regarding Recreational Usage of the Lakes
Presentation on Lake Bank Planting for Approval – Mr. & Mrs. Lonergan
Administrative Matters
District Attorney Update
District Engineer Update
Field Inspector Update
District Manager Update
Financials…	Page 11
Board Members Comments
Adjourn

Published Daily Naples, FL 34110

VERONA WALK COMMUNITY DEV.
2501 A BURNS RD

PALM BEACH GARDENS, FL 33410

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 lo­ cated at 8090 Sorrento Lane, Naples, Florida 34114, on the fol­ lowing dates:

Affidavit of Publication
STATE OF WISCONSIN COUNTY OF BROWN

Before  the  undersigned   they   serve   as   the   authority, personally appeared said legal  clerk  who  on  oath  says  that he/she  serves  as  Legal  Clerk  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 Naples, 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.

Published: October 7, 2019

Subscribed and sworn to before on October 7, 2019:

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 in­ formed of the discussions taking place either in person or by tel­ ephone communication. Said meetings may be continued as found necessary to a date and time certain as stated on the re­ cord.
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 Disabil­ ities Act, any person requiring special accommodations or an in­ terpreter 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  particu­ lar meeting.

Meetings may be cancelled from time to time  without  adver­ tised notice.
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT
www.veronawalkcdd.org
Oct 7, 2019	#3819791

y, State of WI, County of Brown

r

- -

TARA MONDLOCH

Notar

Notary Public State o'f Wisconsin

t

My commission expires August 6, 2021

Publication Cost: $420.00 Ad No: 0003819791
Customer No: 1308371
PO #: Reg Meeting Schedule

VERONA WALK COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
OCTOBER 17, 2019

CALL TO ORDER

The October 17, 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 7, 2019, as part of the District’s Fiscal Year 2019/2020 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	Present	
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	Coleman	Yovanovich Koester	
District Engineer	Terry Cole	Hole Montes, Inc.	
Field Inspector	Bohdan Hirniak		

Also present was District resident Frank Borowiec.

ADDITIONS OR DELETIONS TO THE AGENDA

Mr. Hogan noted that Item I-1 on the agenda should be for the 2018/2019 Amended Budget, not 2019/2020.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

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

APPROVAL OF MINUTES
September 19, 2019, Regular Board Meeting

The September 19, 2019, Regular Board Meeting minutes were presented for approval.

A motion was made by Mr. Clifford, seconded by Ms. Czubkowski and passed unanimously approving the minutes of the September 19, 2019, Regular Board Meeting, as presented.

OLD BUSINESS
Update on HOA Notification when Granting Use of CDD Property

Mr. Urbancic advised he had spoken with the HOA attorney and reiterated that it was not the intent of the CDD to slow down projects, but rather to address specific projects such as pool construction and gutter downspouts that could impact CDD property. It was suggested that a checklist be developed so that an owner knows what needs to be included. Mr. Urbancic went on to state that the discussion also included insurance coverage when going onto CDD property.

Ms. Czubkowski noted that lawn maintenance companies should have the CDD listed as an additional inured. Mr. Hirniak agreed and added that lawn maintenance workers access CDD property for maintenance, as do the workers doing pool work and extensions of downspouts. There was general discussion on the checklist and who should review applications.

A motion was made by Mr. Doyle, seconded by Mr. Hogan and passed unanimously for Ms. Czubkowski to review applications with Mr. Hogan as the secondary reviewer.

Mr. Urbancic stated that a procedure needs to be developed and would go back to the HOA attorney for review. Once that has been done it will be brought back to the Board in the form of a resolution.

NEW BUSINESS
Consider Resolution No. 2019-04 – Adopting a Fiscal Year 2018/2019 Amended Budget

Resolution No. 2019-04 was presented, entitled:

RESOLUTION NO. 2019-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE VERONA WALK COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2018/2019 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER 189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

A motion was made by Ms. Czubkowski, seconded by Mr. Hogan and passed unanimously to adopt Resolution No. 2019-04, as presented.

Consider Resolution No. 2019-05 – Establishing Policies and Procedures for Architectural Control Committee (ACC) Process

Resolution No. 2019-05 was presented, entitled:

RESOLUTION NO. 2019-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF VERONA WALK COMMUNITY DEVELOPMENT DISTRICT ESTABLISHING POLICIES AND PROCEDURES FOR APPROVING ARCHITECTRUAL CONTROL COMMITTEE APPLICATIONS FROM VERONA WALK HOMEOWNERS ASSOCIATION, INC. DIRECTLY IMPACTING DISTRICT PROPERTY; AUTHORIZING THE CHAIR OR THE VICE CHAIR (IN THE CHAIR’S ABSENCE) OR THE DESIGNEE OF EITHER TO REVIEW AND APPROVE ON BEHALF OF THE DISTRICT ARCHITECTRUAL CONTROL COMMITTEE APPLICATIONS FROM VERONA WALK HOMEOWNERS ASSOCIATION, INC. DIRECTLY IMPACTING DISTRICT PROPERTY; PROVIDING FOR PRESENTATION OF APPROVED ARCHITECTRUAL CONTROL COMMITTEE APPLICATIONS FROM VERONA WALK HOMEOWNERS ASSOCIATION, INC. DIRECTLY IMPACTING DISTRICT PROPERTY FOR INFORMATIONAL PURPOSES TO THE BOARD OF SUPERVISORS; AND PROVIDING AN EFFECTIVE DATE.

Mr. Urbancic recommended tabling this resolution until the District and the HOA agree on a process.

ADMINISTRATIVE MATTERS
District Attorney Update

Mr. Urbancic advised that there had been a change in the law that now requires estoppels for certain real estate transactions. Mr. Doyle proposed charging for them. Ms. Czubkowski suggested and it was the consensus of the Board, to wait and see how many requests the District receives for them.

District Engineer Update

There was no District Engineer update at this time.

Field Inspector Update

Mr. Hirniak advised that lake edge trimming was ongoing.

Mr. Clifford indicated he had been receiving complaints of dead material in the lakes and asked how long will it take for them to go down. Mr. Hirniak responded that it usually takes about a month and rain or flow also helps.

Mr. Hirniak also went over rain flow in the area.

District Manager Update
a. Financials

Ms. Dailey went over the financials. There were no questions from the Board Members.

Ms. Dailey reminded the Board that the next meeting was scheduled for November 21, 2019. Ms. Cucinella advised she would not be available for that meeting. It was the consensus of the Board to cancel the November meeting if there is nothing pressing.

BOARD MEMBER COMMENTS

There were no Board Member comments.

ADJOURNMENT

There being no further business to come before the Board, the Regular Board Meeting was adjourned at 10:38 a.m. on a motion made by Ms. Czubkowski, seconded by Mr. Hogan and passed unanimously.

Secretary/Assistant Secretary	Chair/Vice-Chair

RESOLUTION NO. 2020-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF VERONA WALK COMMUNITY DEVELOPMENT DISTRICT ESTABLISHING POLICIES AND PROCEDURES FOR APPROVING ARCHITECTRUAL CONTROL COMMITTEE APPLICATIONS FROM VERONA WALK HOMEOWNERS ASSOCIATION, INC. DIRECTLY IMPACTING DISTRICT PROPERTY; AUTHORIZING THE CHAIR OR THE VICE CHAIR (IN THE CHAIR’S ABSENCE) OR THE DESIGNEE OF EITHER TO REVIEW AND APPROVE ON BEHALF OF THE DISTRICT ARCHITECTRUAL	CONTROL	COMMITTEE APPLICATIONS FROM VERONA WALK HOMEOWNERS ASSOCIATION, INC. DIRECTLY IMPACTING DISTRICT PROPERTY; PROVIDING FOR PRESENTATION OF APPROVED ARCHITECTRUAL CONTROL COMMITTEE APPLICATIONS FROM VERONA WALK HOMEOWNERS ASSOCIATION, INC. DIRECTLY IMPACTING DISTRICT PROPERTY FOR INFORMATIONAL PURPOSES TO THE BOARD OF SUPERVISORS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, Verona Walk Community Development District (the “District”) is organized for purposes that include ownership and operation of certain infrastructure within or benefiting the residential development known generally as Verona Walk; and

WHEREAS, Verona Walk Homeowners Association, Inc. (the “HOA”) is the community association that is formed pursuant to Chapters 617 and 720, Florida Statutes that provides certain private community functions throughout Verona Walk including the review and approval of applications from property owners for exterior modifications to their properties. These applications (individually, an “Architectural Application” and collectively, “Architectural Applications”) are handled through the HOA’s Architectural Control Committee (“ACC”); and

WHEREAS, while the review of Architectural Applications is solely within the purview of the HOA and the HOA’s administration of its governing documents, it is acknowledged that various Architectural Applications reviewed by the HOA from time to time relate to property located adjacent to, or in close proximity with, District property. And, as a result of work being done pursuant to approved Architectural Applications on such properties, the District has experienced adverse, unauthorized impacts to District property including, without limitation, owners and/or their contractors entering upon District property, staging on District property and/or modifying District property including lake banks or piping entering lakes; and

WHEREAS, in order safeguard the District’s property, the HOA and District have established a process for the District to receive notice of, and review, those Architectural Applications that are deemed to directly impact or affect District property. Notwithstanding the same, it is acknowledged that the ACC has a limited time period for review of an Architectural Application once submitted under the HOA’s governing documents; and

WHEREAS, it is not practical, expeditious or economical to arrange and hold meetings of the Board of Supervisors (the “Board”) each time an Architectural Application directly impacting or affecting District property is received; and

WHEREAS, the Board desires to approve policies and procedures for the review and approval (if applicable) of such Architectural Applications and their impacts on District property presented to the District by the HOA.

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

Section 1. Recitals. The foregoing recitals are true and correct and incorporated herein as if written into the body of this Resolution.

Section 2. Architectural Application Policies  and  Procedures.  The  Architectural Application Policies and Procedures attached hereto and made a part of this Resolution as Exhibit “A” are hereby approved for use by the District.

Section 3. Authorized Officer. The Chair or the Vice Chair (in the Chair’s absence) or the designee of either is hereby designated by the District and authorized by the District to carry out the policies and procedures set forth herein.

Section 4. Continuing Effect.  The policies and procedures attached to this Resolution as  Exhibit “A” shall stay in full force and effect until such time as the Board may amend or rescind said policies, procedures or agreement form(s), as applicable.

Section 5. Subsequent Presentation to the Board. A copy of any approved Architectural Application impacting District Property and any corresponding documents required pursuant to this Resolution shall be made available to the Board for informational purposes only at its next regularly scheduled meeting following approval; provided, however, that any failure to present said application shall not affect the validity or implementation of this Resolution.

Section 6. Severability. Should any sentence, section, clause, part or provision  of  this Resolution be declared by a court of competent jurisdiction to be invalid, the same shall not affect the validity of this Resolution as a whole, or any part thereof, other than the part declared invalid.

Section 7.  Conflicts.  All Sections or parts of Sections of any Resolutions or actions of the  Board in conflict are hereby repealed to the extent of such conflict.

Section 8.	Effective Date. This Resolution shall take effect immediately upon adoption.

{Remainder of page intentionally left blank. Signatures appear on next page.}

PASSED AND ADOPTED at a meeting of the Board of Supervisors of Verona Walk Community Development District this 16th day of January, 2020.

Attest:	VERONA WALK COMMUNITY
DEVELOPMENT DISTRICT

Kathleen Dailey, Secretary	Diann Cucinella, Chair

Exhibit “A”
Architectural Application Policies and Procedure

Generally

An “Architectural Application” shall mean any architectural application received from Verona Walk Homeowners Association, Inc. (the “HOA”) (or through its Architectural Control Committee) for review that may directly impact or affect District property.

The District Manager shall develop and establish a form to facilitate the intake of requests from the HOA for review of Architectural Applications. Architectural Applications will be reviewed by the Chair or the Vice Chair (in the Chair’s absence) or the designee of either (“the “Authorized Officer”) to determine whether District property is proposed to be directly affected or impacted and the manner of any such affect or impact.

To the extent the Architectural Application is determined by the Authorized Officer not to directly impact or affect District property, then no action by the District will be required.

To the extent the Architectural Application is determined by the Authorized Officer to directly impact or affect District property, the District reserves the right to withhold or condition its approval for any such impact in the Architectural Application based on such considerations as safety, scheduling considerations, permit compliance, compliance with rules or polices of the District, the proposed type of impact or expected duration, potential for damage or adverse impacts or as otherwise may be in the best interests of the District.

Insurance and Other Requirements.

The District reserves the right through the Authorized Officer to require the Architectural Application applicant to supply insurance, security, indemnity and such other requirements or assurances as may necessary for the protection of the public health, safety and welfare and District property on an case-by-case basis.

Insurance for Architectural Applications that involve any use or entry on District property shall be provided by the applicant (at the applicant’s sole cost and expense) at the discretion of the Authorized Officer reviewing the Architectural Application based upon the nature and extent of the activity to occur on the District’s property. Except as otherwise designated or modified by the Authorized Officer, the applicant shall, at its sole expense, obtain and maintain comprehensive bodily, personal injury, property damage and liability insurance on a per- occurrence basis with a minimum limits for liability in an amount of One Million Dollars ($1,000,000) per Incident and Two Million Dollars ($2,000,000) Aggregate, which shall include a loss payable clause in favor of the District, naming the District as an Additional Insured under the policy, and shall provide the District evidence of such insurance prior to the Architectural Application. Such insurance shall be cancelable only upon forty-five (45) days prior written notice

to the District. Evidence of automobile and/or worker’s compensation insurance may also be required in circumstances deemed appropriate by the Authorized Officer.

A deposit (or other form surety protection) in an amount determined by the Authorized Officer based upon the type of use or impact on the District property and other such factors deemed relevant by the Authorized Officer may be required for the District’s approval. When applicable, to receive a full refund of the deposit the District property must be free from garbage, litter and debris, the, there must be no damage to the District’s facilities or other District property, and any approved installations impacting District property must have been completed in accordance with District policies and procedures. Failure to comply with the policies and procedures of the District may result in the forfeiture of all or a portion of the deposit. After full completion of the applicable project, the District shall have the right, in its sole discretion, to apply the deposit to pay for the cost of cleaning, repair, restoration or any other applicable corrective action. The District Manager shall determine the amount of the deposit to return, if any. If the cost of any cleaning, repair, restoration or other applicable corrective action exceeds the amount of the deposit, the applicant that submitted the Architectural Application will be liable for any such further expenses incurred by the District and said funds shall be paid to the District upon demand.

Indemnification. Each Architectural Application applicant and its contractor, if applicable, proposing to use District property in any manner will be required to indemnify and hold harmless the District and its supervisors, officers, agents and employees from any and all liability, claims, actions, suits or demands by any person, corporation or other entity, for injuries, death, property damage of any nature, arising out of, or in connection with, the use of the District’s property or facilities, including litigation or any appellate proceedings with respect thereto. Each applicant and its contractor, if applicable, shall be required to sign an agreement in a form provided by the District providing for such release and indemnification of the District. Nothing therein shall constitute or be construed as a waiver of the District’s sovereign immunity granted pursuant to Section 768.28, Florida Statutes.

Verona Walk Community Development District

Financial Report For December 2019

VERONA WALK COMMUNITY DEVELOPMENT DISTRICT MONTHLY FINANCIAL REPORT
DECEMBER 2019

REVENUES	Annual Budget
10/1/19 - 12/31/19	
Actual Dec-19	Year To Date Actual
10/1/19 - 12/31/19	
O & M ASSESSMENTS	311,297	169,524	272,651	
DEBT ASSESSMENTS - SERIES 2013	518,105	282,151	453,791	
DEBT ASSESSMENTS - SERIES 2018	583,256	317,631	510,855	
OTHER REVENUES	0	0	0	
INTEREST INCOME	480	0	92	
				
TOTAL REVENUES	$	1,413,138	$	769,306	$	1,237,389	
				
EXPENDITURES				
MAINTENANCE EXPENDITURES				
FIELD INSPECTOR	38,000	3,326	9,977	
VEHICLE - INSURANCE	1,000	0	0	
VEHICLE - EQUIPMENT (SMALL TOOLS)	1,545	0	0	
VEHICLE - GAS & MAINTENANCE	3,000	10	33	
LAKE SPRAYING (CLARK)	72,500	6,406	17,106	
LAKE WATER QUALITY TESTING (BENCHMARK)	6,000	0	1,056	
LAKE LITTORAL & LAKE BANK PLANTINGS	12,500	0	0	
OUTFALL PIPE & STRUCTURE INSPECTION & CLEANING	5,000	0	0	
STORM PIPE & EROSION REPAIRS	50,000	0	0	
DREDGING	1,000	0	0	
MISCELLANEOUS MAINTENANCE	1,000	0	0	
TOTAL MAINTENANCE EXPENDITURES	$	191,545	$	9,742	$	28,172	
				
ADMINISTRATIVE EXPENDITURES				
SUPERVISOR FEES	3,000	0	200	
PAYROLL TAXES (EMPLOYER)	240	0	15	
ENGINEERING	15,500	0	456	
MANAGEMENT	45,264	3,772	11,316	
SECRETARIAL	4,200	350	1,050	
LEGAL	17,000	553	1,690	
ASSESSMENT ROLL	10,000	0	0	
AUDIT FEES	3,600	0	0	
ARBITRAGE REBATE FEE - SERIES 2013	650	0	0	
ARBITRAGE REBATE FEE - SERIES 2018	650	0	0	
INSURANCE	6,518	0	5,541	
LEGAL ADVERTISING	1,800	0	420	
MISCELLANEOUS/CONTINGENCY	2,500	0	218	
POSTAGE	800	8	55	
OFFICE SUPPLIES	1,200	8	158	
DUES & SUBSCRIPTIONS	175	0	175	
WEBSITE MANAGEMENT	2,000	166	500	
TRUSTEE FEES - SERIES 2013	4,730	0	0	
TRUSTEE FEES - SERIES 2018	4,100	0	0	
CONTINUING DISCLOSURE FEE - SERIES 2013	1,000	0	0	
CONTINUING DISCLOSURE FEE - SERIES 2018	1,000	0	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	125,927	$	4,857	$	21,794	
				
TOTAL EXPENDITURES	$	317,472	$	14,599	$	49,966	
				
REVENUES LESS EXPENDITURES	$	1,095,666	$	754,707	$	1,187,423	
				
BOND PAYMENTS (SERIES 2013)	(479,247)	(265,479)	(426,900)	
BOND PAYMENTS (SERIES 2018)	(539,512)	(298,863)	(480,583)	
				
BALANCE	$	76,907	$	190,365	$	279,940	
				
ADMINISTRATIVE COSTS	(48,737)	(14,772)	(23,755)	
DISCOUNTS FOR EARLY PAYMENTS	(57,212)	(30,685)	(49,566)	
				
EXCESS/ (SHORTFALL)	$	(29,042)	$	144,908	$	206,619	
				
CARRYOVER FROM PRIOR YEAR	29,042	0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	144,908	$	206,619	

Bank Balance As Of 11/30/19	$	931,090.34	
Funds Received: 12/1/19 - 12/31/19	$	723,848.70	
Disbursements: 12/1/19 - 12/31/19	$	24,902.95	
Bank Balance As Of 12/31/19	$	1,630,036.09	
Accounts Payable As Of 12/31/19	$	912,371.15	
Accounts Receivable As Of 12/31/19	$	-	
Available Funds As Of 12/31/19	$	717,664.94	

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

	Oct - Dec 19		19-20 Budget		$ Over Budget		% of Budget	
Income								
363.100 · O & M Assessment Income	272,650.66		311,297.00		-38,646.34		87.59%	
363.812 · Debt Assessments (Series 2013)	453,791.25		518,105.00		-64,313.75		87.59%	
363.813 · Deb Assessments (Series 2018)	510,855.35		583,256.00		-72,400.65		87.59%	
363.822 · Debt Assessmnt-Pd To Trustee-13	-426,900.35		-479,247.00		52,346.65		89.08%	
363.823 · Debt Assessmnt-Pd To Trustee-18	-480,582.90		-539,512.00		58,929.10		89.08%	
363.830 · Assessment Fees	-23,754.62		-48,737.00		24,982.38		48.74%	
363.831 · Discounts For Early Payments	-49,566.05		-57,212.00		7,645.95		86.64%	
369.399 · Carryover From Prior Year	0.00		29,042.00		-29,042.00		0.0%	
369.401 · Interest Income	91.72		480.00		-388.28		19.11%	
Total Income	256,585.06		317,472.00		-60,886.94		80.82%	
Expense								
511.122 · Payroll Tax Expense	15.30		240.00		-224.70		6.38%	
511.131 · Supervisor Fees	200.00		3,000.00		-2,800.00		6.67%	
511.306 · Dredging	0.00		1,000.00		-1,000.00		0.0%	
511.308 · Maintenance	0.00		1,000.00		-1,000.00		0.0%	
511.310 · Engineering	456.10		15,500.00		-15,043.90		2.94%	
511.311 · Management Fees	11,316.00		45,264.00		-33,948.00		25.0%	
511.312 · Secretarial Fees	1,050.00		4,200.00		-3,150.00		25.0%	
511.315 · Legal Fees	1,690.00		17,000.00		-15,310.00		9.94%	
511.318 · Assessment/Tax Roll	0.00		10,000.00		-10,000.00		0.0%	
511.320 · Audit Fees	0.00		3,600.00		-3,600.00		0.0%	
511.330 · Arbitrage Rebate Fee-Series 04	0.00		1,300.00		-1,300.00		0.0%	
511.450 · Insurance	5,541.00		6,518.00		-977.00		85.01%	
511.480 · Legal Advertisements	420.00		1,800.00		-1,380.00		23.33%	
511.512 · Miscellaneous	217.20		2,500.00		-2,282.80		8.69%	
511.513 · Postage and Delivery	54.99		800.00		-745.01		6.87%	
511.514 · Office Supplies	158.30		1,200.00		-1,041.70		13.19%	
511.540 · Dues, License & Subscriptions	175.00		175.00		0.00		100.0%	
511.750 · Website Management	499.98		2,000.00		-1,500.02		25.0%	
512.736 · Continuing Disclosure Fee 2013	0.00		1,000.00		-1,000.00		0.0%	
512.738 · Continuing Disclosure Fee 06-18	0.00		1,000.00		-1,000.00		0.0%	
513.733 · Trustee Fees - Series 2013	0.00		4,730.00		-4,730.00		0.0%	
514.101 · Field Inspector	9,977.31		38,000.00		-28,022.69		26.26%	
514.103 · Vehicle Insurance	0.00		1,000.00		-1,000.00		0.0%	
514.104 · Vehicle Equipment (small tools)	0.00		1,545.00		-1,545.00		0.0%	
514.105 · Vehicle Gas and Maintenance	33.25		3,000.00		-2,966.75		1.11%	
514.106 · Lake Spraying (Clark)	17,106.00		72,500.00		-55,394.00		23.59%	
514.107 · Lake H2O Quality Tests-Benchmrk	1,056.00		6,000.00		-4,944.00		17.6%	
514.108 · Lake Littoral & Lake Bank Plant	0.00		12,500.00		-12,500.00		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%	
514.733 · Trustee Fees (2018)	0.00		4,100.00		-4,100.00		0.0%	
Total Expense	49,966.43		317,472.00		-267,505.57		15.74%	
Net Income	    206,618.63		 	0.00		 	206,618.63		 	100.0%	

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

Operating Fund	Debt Service (13) Fund	Debt Service (18) Fund	General Fixed Assets Fund	Long Term Debt Fund	TOTAL
     
ASSETS
Current Assets
Operating Bank Account	1,630,036.09		0.00		0.00		0.00		0.00		1,630,036.09	
Total Current Assets	1,630,036.09		0.00		0.00		0.00		0.00		1,630,036.09	
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		-6,811,662.00		0.00		-6,811,662.00	
Total Fixed Assets	0.00		0.00		0.00		8,669,378.00		0.00		8,669,378.00	
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		422,332.25		475,440.40		0.00		0.00		897,772.65	
Investments - Construction	0.00		0.00		0.00		0.00		0.00		0.00	
Investments - Interest Acct	0.00		0.00		0.00		0.00		0.00		0.00	
Investments - Reserve Acct	0.00		241,843.75		50,217.64		0.00		0.00		292,061.39	
Investments - Revenue Acct	0.00		6,075.56		81,558.17		0.00		0.00		87,633.73	
Investments - Prepayment Acct	0.00		1,806.27		0.00		0.00		0.00		1,806.27	
Investments - Excess Revenue	0.00		28,802.07		0.00		0.00		0.00		28,802.07	
Amount Available In DSF (2013)	0.00		0.00		0.00		0.00		700,859.90		700,859.90	
Amount Available In DSF (2018)	0.00		0.00		0.00		0.00		607,216.21		607,216.21	
5155000 · Amount To Be Provided	0.00		0.00		0.00		0.00		11,356,923.89		11,356,923.89	
Total Other Assets	0.00		700,859.90		607,216.21		0.00		12,665,000.00		13,973,076.11	
TOTAL ASSETS	 	1,630,036.09		 	700,859.90		 	607,216.21		 	8,669,378.00		 	12,665,000.00		 	24,272,490.20	

LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accrued Expenses	0.00		0.00		0.00		0.00		0.00		0.00	
Accounts Payable	912,371.75		0.00		0.00		0.00		0.00		912,371.75	
Total Current Liabilities	912,371.75		0.00		0.00		0.00		0.00		912,371.75	
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	912,371.75		0.00		0.00		0.00		12,665,000.00		13,577,371.75	
Equity												
Retained Earnings	511,045.71		385,061.82		244,694.00		-6,811,662.00		0.00		-5,670,860.47	
Current Year Depreciation	0.00		0.00		0.00		0.00		0.00		0.00	
Net Income	206,618.63		315,798.08		362,522.21		0.00		0.00		884,938.92	
Investment In Gen Fixed Assets	0.00		0.00		0.00		15,481,040.00		0.00		15,481,040.00	
Total Equity	717,664.34		700,859.90		607,216.21		8,669,378.00		0.00		10,695,118.45	

TOTAL LIABILITIES & EQUITY	
 	1,630,036.09		
 	700,859.90		
 	607,216.21		
 	8,669,378.00		
 	12,665,000.00		
 	24,272,490.20