VERONA WALK COMMUNITY DEVELOPMENT
DISTRICT

COLLIER COUNTY REGULAR BOARD MEETING MAY 18, 2023
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 May 18, 2023
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 20, 2023 Regular Board Meeting.	Page 2
Old Business
New Business
Discussion Regarding Future Dredging
Discussion Regarding Process to Make Homeowners Responsible for Lake Bank Repairs
Consider Resolution No. 2023-02 – Adopting a Fiscal Year 2023/2024 Proposed Budget…	Page 6
Administrative Matters
District Attorney Update
District Engineer Update
Field Inspector Update
District Manager Update
Financials…	Page 14
Board Members Comments
Status of the Red Float in the Main Pond - Hogan
Adjourn

PART OFtHE.USA TODAY NErWORK
Published Daily Naples, FL 34110

VERONA WALK COMMUNITY DEV. 2501 A BURNS RD

PALM BEACH GARDENS, FL 33410

Affidavit of Publication
STATE OF WISCONSIN COUNTY OF BROWN

VERONA WALK COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2022/2023 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:

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 said newspaper issue(s) dated or by publication on the newspaper's website, if authorized, on

!ssue(s) dated: 10/11/2022

Subscribed and sworn to before on October 11, 2022:

My commission expires

NICOLE JACOBS
Notary Public State of Wisconsin

Publication Cost: $427.00
Ad No: 0005442832
Customer No: 1308371 PO #: reg mtg schedule
# of Affidavits 1
This is not an invoice

October 20, 2022
November 17, 2022
December 15, 2022
January 19, 2023
February 16, 2023
March 16, 2023
April 20, 2023
May 18, 2023
June 15, 2023
July 20, 2023
August 17, 2023
September 21, 2023

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 Arnericans 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
October 11, 2022	5442832

VERONA WALK COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
APRIL 20, 2023

CALL TO ORDER

The April 20, 2023, Regular Board Meeting of the Verona Walk Community Development District (the “District”) was called to order at 10:00 a.m. at 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 11, 2022, as part of the District’s Fiscal Year 2022/2023 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	Marilyn Czubkowski	Present	
Vice Chairman	Peter Monti	Present	
Supervisor	Pat Clifford	Absent	
Supervisor	Jack Hogan	Present	
Supervisor	Michael Kurzawski	Present	

Staff members in attendance were:

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

Also present were the following: Mike Sweeney – Advanced Aquatic Services; and the following District residents: Dan Shallow, Ken Schaper, Herb Czeschin, Don Hazard, Ralph Morello, Chris Briggs, Jeanne Condle and Joe Candela.

ADDITIONS OR DELETIONS TO THE AGENDA

Ms. Czubkowski requested the addition of the following item: Email on Xfinity Use of Easements. There was a consensus of the Board to discuss this under Board Member Comments.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA
Page 1 of 4

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

APPROVAL OF MINUTES
February 16, 2023, Regular Board Meeting

The February 16, 2023, Regular Board Meeting minutes were presented for approval.

Ms. Czubkowski stated that Mr. Kurzawski was present and that on Page 3, under Comments from the Public, it should read that the presentation would be in April, not at the next meeting.

A motion was made by Mr. Kurzawski, seconded by Mr. Monti and passed unanimously approving the minutes of the February 16, 2023, Regular Board Meeting, as amended.

OLD BUSINESS

There were no Old Business items to come before the Board.

NEW BUSINESS
Presentation by Advanced Aquatic Services – Mike Sweeney

Mr. Sweeney gave a background on the company and noted that he had supervised the installation of the littoral planting project. He indicated that the area of the experimental project was weed wacked and sprayed once, but seems to be doing okay. He added that they can spray weeds with a chemical that differentiates between flowers and weeds. Ms. Czubkowski noted that this was not the District’s first attempt at an experimental planting, as those were not successful. She added that this one, so far, looked good, but would not consider it successful yet.

Mr. Sweeney stated that the blue flag iris was doing well and that they do not do erosion work. He explained that 450 plants were put in a 150-yard area in October at a cost of $700. Mr. Monti opined that the soil was terrible and it would take two years until fully completed. There was discussion with the audience and Mr. Monti stated that any future work would be through a bid situation.

Consider Proposal for Drainage Repairs

Ms. Czubkowski stated that this was in the amount of $12,388.77 to Napier Sprinkler to make repairs of drainage areas that had been put in incorrectly in the past. She added that after this year the responsibility would be on the homeowners. Discussion ensued about who should pay for the repairs. Mr. Briggs noted that the homeowners would need to pay after a certain date and Ms. Czubkowski stated that now we make sure new installations are put in correctly. Mr. Hogan expressed that he objects, as he had to fix his own drainage and had it done right and is now paying for other homes who did not do it right. Mr. Hirniak stated that there were a myriad of issues with these installations and added that, in some instances, it is a second or third owner since the drainage was put in. He continued that the complete repair proposal would benefit the entire community. Ms. Czubkowski added that the Board did not have the ability to enforce the homeowner to make the repairs. Mr. Morello agreed with Mr. Hogan that the repairs should be the responsibility of the homeowners.

Page 2 of 4

A motion was made by Mr. Monti, seconded by Mr. Kurzawski approving the Napier Sprinkler proper for drainage repairs in the amount of $12,388.77. Upon being put to a vote, the motion carried 3 to 1 with Mr. Hogan dissenting

Consider Proposal for Lake Bank Erosion

Ms. Czubkowski advised that this was in the amount of $10,196.72 to Napier Sprinkler.

A motion was made by Mr. Monti, seconded by Mr. Hogan and passed unanimously approving the Napier Sprinkler proposal in the amount of $10,196.72 for lake bank erosion repairs.

Discussion Regarding Motion Made at Last January Meeting on Future Drainage Repairs

Ms. Czubkowski advised that this had to do with the previous discussion and asked the attorney to review the minutes and give feedback at the next meeting.

Budget Discussion

Ms. Meneely indicated that the budget would be presented at the next meeting and if there were any changes or additions, the Board should let her know now. Mr. Monti noted that he would like to keep
$6,000 in the budget for future littoral plantings.

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 went over the rainfall levels, noting that the normal range for this time of year was 6.3 inches and the area is currently only at 1.3 inches. He added that the lake levels were the same as in previous years.

District Manager Update

Ms. Meneely presented the financials. There were no questions from the Board Members.

Ms. Meneely reminded the Board that the budget would be presented at the May 18th meeting with the final being presented at the July 18th meeting. She stated that she would be unavailable for the June 15th meeting and asked if the Board would like to change the date. There was a consensus of the Board was to cancel the June meeting.

BOARD MEMBER COMMENTS
Page 3 of 4

Discussion on Improving Communication with the Homeowners – Hogan

Mr. Hogan stated that he was going to keep pressing for improved communication and thanked Ms. Czubkowski for the information in the HOA weekly update.

First CDD Information Sent to the HOA for Weekly Update – Czubkowski

Ms. Czubkowski advised that the first information was sent out and had been received well. She indicated that next month’s communication had already been printed regarding tax bills and would be a stand-alone email when sent. Mr. Briggs and Ms. Condle commended Ms. Czubkowski, indicating it was excellent information.

List of Drainage Approved by ACC – Czubkowski

Ms. Czubkowski went over the information and stated that she would sent to the Board the entire document since parts were missing in the agenda packet.

Mr. Kurzawski left the meeting at 11:08 a.m.

Email on Xfinity Use of Easements

Ms. Czubkowski stated that the HOA had sent an email from Xfinity requesting use of the CDD’s easement for utility lines. She pointed out that the District could not do that. Mr. Urbancic went over the issues, stating that the CDD does not want a conflict.

ADJOURNMENT

There being no further business to come before the Board, the Regular Board Meeting was adjourned at 11:09 a.m. on a motion made by Mr. Hogan, seconded by Mr. Monti and that motion carried unanimously.

Secretary/Assistant Secretary	Chair/Vice-Chair

Page 4 of 4

RESOLUTION NO. 2023-02

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE VERONA WALK COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2023/2024; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (“Board”) of the Verona Walk Community Development District (“District”) is required by Chapter 190.008, Florida Statutes, to approve a Proposed Budget for each fiscal year; and,

WHEREAS, the Proposed Budget including the Assessments for Fiscal Year 2023/2024 has been prepared and considered by the Board.

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

Section 1.  The Proposed Budget including the Assessments for Fiscal Year 2023/2024 attached hereto as Exhibit “A” is approved and adopted.

Section 2.   A Public Hearing is hereby scheduled for July 20, 2023 at 10:00 a.m.
in the Town Center at Verona Walk, 8090 Sorrento Lane, Naples, Florida 34114, for the purpose of receiving public comments on the Proposed Fiscal Year 2023/2024 Budget.

PASSED, ADOPTED and EFFECTIVE this 18th day of May, 2023.

ATTEST:	VERONA WALK
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairman/Vice Chairman

Verona Walk
Community Development District

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2013)

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2018)

ASSESSMENT COMPARISON

PROPOSED BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024
BUDGET	
O 0 ASSESS0ENTS	311,297	
'EBT ASSESS0ENTS - SER ES 2013	515,565	
'EBT ASSESS0ENTS - SER ES 2018	582,0 	
OTHER REVENUES	0	
 NTEREST N&O0E	600	
		
TOTAL REVENUES	 	1,40 , 0 	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
F E/' NSPE&TOR	 2,600	
VEH &/E - NSURAN&E	1,000	
VEH &/E - E4U P0ENT S0A// TOO/S 	1,5 5	
VEH &/E - GAS 0A NTENAN&E	2,750	
GO/F &ART STORAGE	1,200	
/A.E SPRA< NG SO/ TU'E-&/AR. 	77,500	
/A.E :ATER 4UA/ T< TEST NG BEN&H0AR. 	6,000	
/A.E / TTORA/ PRO-E&TS	18,000	
/A.E BAN. 0O: NG	16,500	
OUTFA// P PE STRU&TURE NSPE&T ON &/EAN NG	5,000	
STOR0 P PE EROS ON REPA RS	 8,000	
'RE'G NG	1,000	
0 S&E//ANEOUS 0A NTENAN&E	1,250	
TOTAL MAINTENANCE EXPENDITURES	 	222,34 	
		
ADMINISTRATIVE EXPENDITURES		
ENG NEER NG	1 ,500	
0ANAGE0ENT	 9,788	
SE&RETAR A/	 ,200	
/EGA/	16,000	
ASSESS0ENT RO//	10,000	
AU' T FEES	 ,100	
ARB TRAGE REBATE FEE - SER ES 2013	650	
ARB TRAGE REBATE FEE - SER ES 2018	650	
 NSURAN&E	7,250	
/EGA/ A'VERT S NG	2,050	
0 S&E//ANEOUS &ONT NGEN&<	2,000	
POSTAGE	700	
OFF &E SUPP/ ES	1,075	
'UES SUBS&R PT ONS	175	
:EBS TE 0ANAGE0ENT	2,000	
TRUSTEE FEES - SER ES 2013	 ,730	
TRUSTEE FEES - SER ES 2018	 ,100	
&ONT NU NG ' S&/OSURE FEE	1,000	
TOTAL ADMINISTRATIVE EXPENDITURES	 	124, 8	
		
TOTAL EXPENDITURES	 	34 ,313	
		
REVENUES LESS EXPENDITURES	 	1,0 2,1 3	
		
BON' PA<0ENTS SER ES 2013 	 76,898 	
BON' PA<0ENTS SER ES 2018 	 538,391 	
		
BALANCE	 	4 , 04	
		
&OUNT< APPRA SER TA; &O//E&TOR A'0 N STRAT VE &OSTS	 8,6 7 	
' S&OUNTS FOR EAR/< PA<0ENTS	 57,108 	
		
EXCESS/ (S+ORTFALL)	 	( 8,8 1)	
		
&ARR<OVER FRO0 PR OR <EAR	58,851	
		
NET EXCESS/ (S+ORTFALL)	 	-	

Note: Projected Available Funds Balance As Of 9-30-23 is $570,000

DETAILED PROPOSED BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022 ACTUAL	
FISCAL YEAR 2022/2023 BUDGET	
FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	
O & M ASSESSMENTS	311,423	311,297	311,297	E[penditures Less nterest & Carryover/ 925	
DEBT ASSESSMENTS - SER ES 2013	515,777	515,565	515,565	Bond Payments/ 925	
DEBT ASSESSMENTS - SER ES 2018	582,893	582,655	582,044	Bond Payments/ 925	
OTHER REVENUES	0	0	0		
 NTEREST NCOME	838	480	600	 nterest Projected At $500 Per Month	
					
TOTAL REVENUES	$	1,410,931	$	1,409,997	$	1,409,506		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
F ELD NSPECTOR	43,530	42,000	42,600	$600 ncrease From 2022/2023 Budget	
VEH CLE - NSURANCE	0	1,000	1,000	No Change From 2022/2023 Budget	
VEH CLE - EQU PMENT (SMALL TOOLS)	0	1,545	1,545	No Change From 2022/2023 Budget	
VEH CLE - GAS & MA NTENANCE	248	2,750	2,750	No Change From 2022/2023 Budget	
GOLF CART STORAGE	1,200	1,200	1,200	No Change From 2022/2023 Budget	
LA.E SPRAY NG (SOL TUDE-CLAR.)	67,800	77,500	77,500	FY 22/23 E[penditure Through April 2023 Was $39,550	
LA.E WATER QUAL TY TEST NG (BENCHMAR.)	4,224	6,000	6,000	No Change From 2022/2023 Budget	
LA.E L TTORAL PRO-ECTS	0	20,000	18,000	$2,000 Decrease From 2022/2023 Budget	
LA.E BAN. MOW NG	16,200	12,000	16,500	$4,500 ncrease From 2022/2023 Budget	
OUTFALL P PE & STRUCTURE NSPECT ON & CLEAN NG	0	5,000	5,000	No Change From 2022/2023 Budget	
STORM P PE & EROS ON REPA RS	23,959	50,000	48,000	$2,000 Decrease From 2022/2023 Budget	
DREDG NG	0	1,000	1,000	No Change From 2022/2023 Budget	
M SCELLANEOUS MA NTENANCE	10,851	1,250	1,250	No Change From 2022/2023 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	168,012	$	221,245	$	222,345		
					
ADMINISTRATIVE EXPENDITURES					
ENG NEER NG	8,989	14,500	14,500	No Change From 2022/2023 Budget	
MANAGEMENT	46,944	48,348	49,788	CP Adjustment (Capped At 3 )	
SECRETAR AL	4,200	4,200	4,200	No Change From 2022/2023 Budget	
LEGAL	10,945	16,500	16,000	FY 22/23 E[penditures Through -an 2023 Were $2,466	
ASSESSMENT ROLL	10,000	10,000	10,000	As Per Contract	
AUD T FEES	3,800	3,900	4,100	Accepted Amount For 2022/2023 Audit	
ARB TRAGE REBATE FEE - SER ES 2013	650	650	650	No Change From 2022/2023 Budget	
ARB TRAGE REBATE FEE - SER ES 2018	650	650	650	No Change From 2022/2023 Budget	
 NSURANCE	6,022	7,250	7,250	 nsurance Estimate	
LEGAL ADVERT S NG	679	2,050	2,050	No Change From 2022/2023 Budget	
M SCELLANEOUS/CONT NGENCY	1,155	2,200	2,000	$200 Decrease From 2022/2023 Budget	
POSTAGE	526	700	700	No Change From 2022/2023 Budget	
OFF CE SUPPL ES	952	1,075	1,075	No Change From 2022/2023 Budget	
DUES & SUBSCR PT ONS	175	175	175	No Change From 2022/2023 Budget	
WEBS TE MANAGEMENT	2,000	2,000	2,000	No Change From 2022/2023 Budget	
TRUSTEE FEES - SER ES 2013	4,730	4,730	4,730	No Change From 2022/2023 Budget	
TRUSTEE FEES - SER ES 2018	3,709	4,100	4,100	No Change From 2022/2023 Budget	
CONT NU NG D SCLOSURE FEE	1,000	1,000	1,000	No Change From 2022/2023 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	107,126	$	124,028	$	124,968		
					
TOTAL EXPENDITURES	$	275,138	$	345,273	$	347,313		
					
REVENUES LESS EXPENDITURES	$	1,135,793	$	1,064,724	$	1,062,193		
					
BOND PAYMENTS (SER ES 2013)	(486,494)	(476,898)	(476,898)	2024 Principal & nterest Payments	
BOND PAYMENTS (SER ES 2018)	(549,800)	(538,956)	(538,391)	2024 Principal & nterest Payments	
					
BALANCE	$	99,499	$	48,870	$	46,904		
					
COUNTY APPRA SER & TA; COLLECTOR ADM N STRAT VE COSTS	(20,031)	(48,628)	(48,647)	Three And One Half Percent Of Total Assessment Roll	
D SCOUNTS FOR EARLY PAYMENTS	(52,909)	(57,085)	(57,108)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (S+ORTFALL)	$	26,559	$	(56,843)	$	(58,851)		
					
CARRYOVER FROM PR OR YEAR	0	56,843	58,851	Carryover From Prior Year	
					
NET EXCESS/ (S+ORTFALL)	$	26,559	$	-	$	-		

Note: Projected Available Funds Balance As Of 9-30-23 is $570,000

DETAILED PROPOSED DEBT SERVICE (SERIES 2013) FUND BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2021/2022 ACTUAL	FISCAL YEAR 2022/2023 BUDGET	FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

 nterest ncome	
1,157	
25	
100	
Projected nterest For 2023/2024	

NAV Collection	
486,494	
477,985	
477,985	
Ma[imum Debt Service Collection	

Prepaid Bond Collection	
0	
0	
0	
Prepaid Bond Collection	

Total Revenues	
$	487,651	
$	478,010	
$	478,085		

EXPENDITURES					

Principal Payments (2013A-1)	
245,000	
260,000	
265,000	
Principal Payment Due n 2024	

Principal Payments (2013A-2)	
15,000	
15,000	
15,000	
Principal Payment Due n 2024	

 nterest Payments (2013A-1)	
192,272	
178,413	
167,997	
 nterest Payments Due n 2024	

 nterest Payments (2013A-2)	
11,500	
11,088	
10,375	
 nterest Payments Due n 2024	

Bond Redemption	
45,000	
13,509	
19,713	
Estimated E[cess Debt Collections	

Total Expenditures	
$	508,772	
$	478,010	
$	478,085		

Excess/ (Shortfall)	
$	(21,121)	
$	-	
$	-		

Series 2013A-1 Bond Refunding Information	
Original Par Amount =	$6,455,000	Annual Principal Payments Due =	May 1st	
 nterest Rate =	1.1% - 4.375%	Annual nterest Payments Due =	May 1st & November 1st	
 ssue Date =	June 2013			
Maturity Date =	May 2035			
Par Amount As Of 1/1/23 =	$4,320,000			

Series 2013A-2 Bond Refunding Information	
Original Par Amount =	$650,000	Annual Principal Payments Due =	May 1st	
 nterest Rate =
 ssue Date =	4.5% - 5.0%
June 2013	Annual nterest Payments Due =	May 1st & November 1st	
Maturity Date =	May 2035			
Par Amount As Of 1/1/23 =	$170,000			

DETAILED FINAL DEBT SERVICE (SERIES 2018) FUND BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2021/2022 ACTUAL	FISCAL YEAR 2022/2023 BUDGET	FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

 nterest ncome	
19	
25	
100	
Projected nterest For 2023/2024	

NAV Collection	
549,800	
538,956	
538,391	
Ma[imum Debt Service Collection	

Prepaid Bond Collection	
0	
0	
0	
Prepaid Bond Collection	

Total Revenues	
$	549,819	
$	538,981	
$	538,491		

EXPENDITURES					

Principal Payments	
328,000	
338,000	
350,000	
Principal Payment Due n 2024	

 nterest Payments	
215,995	
199,843	
188,363	
 nterest Payments Due n 2024	

Bond Redemption	
0	
1,138	
128	
Estimated E[cess Debt Collections	

Total Expenditures	
$	543,995	
$	538,981	
$	538,491		

Excess/ (Shortfall)	
$	5,824	
$	-	
$	-		

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

Par Amount As Of 1/1/23 =	May 2037

$6,318,000			

Verona Walk Community Development District Assessment Comparison

Lot Si]e
Phase One		Fiscal Year 2019/2020
Assessment*	Fiscal Year 2020/2021
Assessment*	Fiscal Year 2021/2022
Assessment*	Fiscal Year 2022/2023
Assessment*	Fiscal Year 2023/2024
ProMected 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	$	511.00	$	511.00	$	511.00	$	511.00	$	511.00	
	Total	$	673.13	$	673.13	$	673.13	$	673.13	$	673.13	
							
Single Family 40'	O & M	$	162.13	$	162.13	$	162.13	$	162.13	$	162.13	
Garden	Debt	$	577.00	$	577.00	$	577.00	$	577.00	$	577.00	
	Total	$	739.13	$	739.13	$	739.13	$	739.13	$	739.13	
							
Single Family 50'	O & M	$	162.13	$	162.13	$	162.13	$	162.13	$	162.13	
Oakmont	Debt	$	601.00	$	601.00	$	601.00	$	601.00	$	601.00	
	Total	$	763.13	$	763.13	$	763.13	$	763.13	$	763.13	
							
Single Family 60'	O & M	$	162.13	$	162.13	$	162.13	$	162.13	$	162.13	
Carlyle	Debt	$	691.00	$	691.00	$	691.00	$	691.00	$	691.00	
	Total	$	853.13	$	853.13	$	853.13	$	853.13	$	853.13	
							
Single Family 65'	O & M	$	162.13	$	162.13	$	162.13	$	162.13	$	162.13	
Estate	Debt	$	759.00	$	759.00	$	759.00	$	759.00	$	759.00	
	Total	$	921.13	$	921.13	$	921.13	$	921.13	$	921.13	

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

Community nformation:
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	7	-35	
97	Single Family	60'	Carlyle	$	730	1	1	
935					25	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	8	0	
161	SF	60'/65'	Carlyle	$	691	0	0	
32	SF	65'	Estate	$	759	0	0	
1019					15	0	

1 New Bond Prepayer For 2023/2024 Budget (Phase 2 - Oakmont)

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

Verona Walk Community Development District

Financial Report For April 2023

VERONA WALK COMMUNITY DEVELOPMENT DISTRICT MONTHLY FINANCIAL REPORT
APRIL 2023

REVENUES	Annual Budget
10/1/22 9/30/23	
Actual ASr 23	Year To Date Actual
10/1/22 4/30/23	
O & M ASSESSMENTS	311,297	7,899	308,743	
DEBT ASSESSMENTS - SERIES 2013	515,565	13,088	510,335	
DEBT ASSESSMENTS - SERIES 2018	582,655	14,791	576,743	
OTHER REVENUES	0	0	0	
INTEREST INCOME	480	0	437	
				
TOTAL REVENUES	$	1,409,997	$	35,778	$	1,396,258	
				
EXPENDITURES				
MAINTENANCE EXPENDITURES				
FIELD INSPECTOR	42,000	3,752	26,267	
VEHICLE - CART	0	0	0	
VEHICLE - INSURANCE	1,000	0	0	
VEHICLE - EQUIPMENT (SMALL TOOLS)	1,545	0	0	
VEHICLE - GAS & MAINTENANCE	2,750	10	88	
GOLF CART STORAGE	1,200	0	0	
LA.E SPRAYING (CLAR.)	77,500	5,650	39,550	
LA.E :ATER QUALITY TESTING (BENCHMAR.)	6,000	0	2,928	
LA.E LITTORAL & LA.E BAN. PLANTINGS	20,000	0	2,260	
LA.E BAN. MO:ING	12,000	0	8,400	
OUTFALL PIPE & STRUCTURE INSPECTION & CLEANING	5,000	0	0	
STORM PIPE & EROSION REPAIRS	50,000	0	0	
DREDGING	1,000	0	0	
MISCELLANEOUS MAINTENANCE	1,250	101	101	
TOTAL MAINTENANCE EXPENDITURES	$	221,245	$	9,513	$	79,594	
				
ADMINISTRATIVE EXPENDITURES				
ENGINEERING	14,500	0	854	
MANAGEMENT	48,348	4,029	28,203	
SECRETARIAL	4,200	350	2,450	
LEGAL	16,500	0	2,466	
ASSESSMENT ROLL	10,000	0	0	
AUDIT FEES	3,900	0	0	
ARBITRAGE REBATE FEE - SERIES 2013	650	0	0	
ARBITRAGE REBATE FEE - SERIES 2018	650	0	0	
INSURANCE	7,250	0	6,474	
LEGAL ADVERTISING	2,050	0	1,365	
MISCELLANEOUS CONTINGENCY	2,200	0	469	
POSTAGE	700	17	296	
OFFICE SUPPLIES	1,075	8	347	
DUES & SUBSCRIPTIONS	175	0	175	
:EBSITE MANAGEMENT	2,000	167	1,167	
TRUSTEE FEES - SERIES 2013	4,730	0	0	
TRUSTEE FEES - SERIES 2018	4,100	0	3,709	
CONTINUING DISCLOSURE FEE - SERIES 2013	500	1,000	1,000	
CONTINUING DISCLOSURE FEE - SERIES 2018	500	0	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	124,028	$	5,571	$	48,975	
				
TOTAL EXPENDITURES	$	345,273	$	15,084	$	128,569	
				
REVENUES LESS EXPENDITURES	$	1,064,724	$	20,694	$	1,267,689	
				
BOND PAYMENTS (SERIES 2013)	(476,898)	(12,826)	(481,223)	
BOND PAYMENTS (SERIES 2018)	(538,956)	(14,495)	(543,842)	
				
BALANCE	$	48,870	$	 6,627 	$	242,624	
				
ADMINISTRATIVE COSTS	(48,628)	(715)	(26,848)	
DISCOUNTS FOR EARLY PAYMENTS	(57,085)	0	(52,739)	
				
EXCESS/ SHORTFALL 	$	 56,843 	$	 7,342 	$	163,037	
				
CARRYOVER FROM PRIOR YEAR	56,843	0	0	
				
NET EXCESS/ SHORTFALL 	$	 	$	 7,342 	$	163,037	

Bank Balance As Of 4/30/23	$	853,691.18	
Accounts Payable As Of 4/30/23	$	51,763.57	
Accounts Receivable As Of 4/30/23	$	 	
Available Funds As Of 4/30/23	$	801,927.61	

Verona Walk Community Development District
Budget vs. Actual
October 2022 through April 2023

	Oct '22 Apr 23		22/23 Budget		$ Over Budget		% of Budget	
Income								
363.100 · O & M Assessment Income	308,742.85		311,297.00		-2,554.15		99.18%	
363.812 · Debt Assessments (Series 2013)	510,335.40		515,565.00		-5,229.60		98.99%	
363.813 · Debt Assessments (Series 2018)	576,743.15		582,655.00		-5,911.85		98.99%	
363.822 · Debt Assessmnt Pd To Trustee 13	-481,222.85		-476,898.00		-4,324.85		100.91%	
363.823 · Debt Assessmnt Pd To Trustee 18	-543,842.30		-538,956.00		-4,886.30		100.91%	
363.830 · Assessment Fees	-26,847.63		-48,628.00		21,780.37		55.21%	
363.831 · Discounts For Early Payments	-52,739.38		-57,085.00		4,345.62		92.39%	
369.399 · Carryover From Prior Year	0.00		56,843.00		-56,843.00		0.0%	
369.401 · Interest Income	437.34		480.00		-42.66		91.11%	
Total Income	291,606.58		345,273.00		-53,666.42		84.46%	
Expense								
511.306 · Dredging	0.00		1,000.00		-1,000.00		0.0%	
511.308 · Miscellaneous Maintenance	100.95		1,250.00		-1,149.05		8.08%	
511.310 · Engineering	854.25		14,500.00		-13,645.75		5.89%	
511.311 · Management Fees	28,203.00		48,348.00		-20,145.00		58.33%	
511.312 · Secretarial Fees	2,450.00		4,200.00		-1,750.00		58.33%	
511.315 · Legal Fees	2,466.00		16,500.00		-14,034.00		14.95%	
511.318 · Assessment/Tax Roll	0.00		10,000.00		-10,000.00		0.0%	
511.320 · Audit Fees	0.00		3,900.00		-3,900.00		0.0%	
511.450 · Insurance	6,474.00		7,250.00		-776.00		89.3%	
511.480 · Legal Advertisements	1,365.00		2,050.00		-685.00		66.59%	
511.512 · Miscellaneous	468.70		2,200.00		-1,731.30		21.31%	
511.513 · Postage and Delivery	296.18		700.00		-403.82		42.31%	
511.514 · Office Supplies	347.45		1,075.00		-727.55		32.32%	
511.540 · Dues, License & Subscriptions	175.00		175.00		0.00		100.0%	
511.750 · Website Management	1,166.62		2,000.00		-833.38		58.33%	
512.736 · Continuing Disclosure Fee 2013	1,000.00		1,000.00		0.00		100.0%	
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%	
514.100 · Golf Cart Storage	0.00		1,200.00		-1,200.00		0.0%	
514.101 · Field Inspector	26,267.15		42,000.00		-15,732.85		62.54%	
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	87.95		2,750.00		-2,662.05		3.2%	
514.106 · Lake Spraying (Clark)	39,550.00		77,500.00		-37,950.00		51.03%	
514.107 · Lake H2O Quality Tests Benchmrk	2,928.00		6,000.00		-3,072.00		48.8%	
514.108 · Lake Littoral & Lake Bank Plant	2,260.50		20,000.00		-17,739.50		11.3%	
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%	
514.111 · Lake Bank Mowing	8,400.00		12,000.00		-3,600.00		70.0%	
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	128,569.50		345,273.00		-216,703.50		37.24%	
Net Income		163,037.08			0.00			163,037.08			100.0%	

Verona Walk Community Development District
Balance Sheet
As of April 30, 2023

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	
853,691.18		
0.00		
0.00		
0.00		
0.00		
853,691.18	
Total Current Assets	853,691.18		0.00		0.00		0.00		0.00		853,691.18	
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		-8,669,388.00		0.00		-8,669,388.00	
Total Fixed Assets	0.00		0.00		0.00		6,811,652.00		0.00		6,811,652.00	
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 Sinking Acct	0.00		0.00		0.13		0.00		0.00		0.13	
Investments Interest Acct	0.00		0.00		0.01		0.00		0.00		0.01	
Investments Reserve Acct	0.00		228,881.25		50,646.39		0.00		0.00		279,527.64	
Investments Revenue Acct	0.00		474,575.04		644,149.19		0.00		0.00		1,118,724.23	
Investments Prepayment Acct	0.00		2,609.75		7,144.08		0.00		0.00		9,753.83	
Investments Excess Revenue	0.00		165.17		0.00		0.00		0.00		165.17	
Amount Available In DSF (2013)	0.00		0.00		0.00		0.00		706,231.21		706,231.21	
Amount Available In DSF (2018)	0.00		0.00		0.00		0.00		701,939.80		701,939.80	
Amount To Be Provided	0.00		0.00		0.00		0.00		9,399,828.99		9,399,828.99	
Total Other Assets	0.00		706,231.21		701,939.80		0.00		10,808,000.00		12,216,171.01	
TOTAL ASSETS	853,691.18		706,231.21		701,939.80		6,811,652.00		10,808,000.00		19,881,514.19	

LIABILITIES & EQUITY												
Liabilities
Current Liabilities												
Accrued Expenses	0.00		0.00		0.00		0.00		0.00		0.00	
Accounts Payable	51,763.57		0.00		0.00		0.00		0.00		51,763.57	
Total Current Liabilities	51,763.57		0.00		0.00		0.00		0.00		51,763.57	
Long Term Liabilities												
Special Assessment Debt (2013A 1)	0.00		0.00		0.00		0.00		4,320,000.00		4,320,000.00	
Special Assessment Debt (2013A 2)	0.00		0.00		0.00		0.00		170,000.00		170,000.00	
Special Assessment Debt (2018)	0.00		0.00		0.00		0.00		6,318,000.00		6,318,000.00	
Total Long Term Liabilities	0.00		0.00		0.00		0.00		10,808,000.00		10,808,000.00	
Total Liabilities	51,763.57		0.00		0.00		0.00		10,808,000.00		10,859,763.57	
Equity												
Retained Earnings	638,890.53		363,103.05		271,614.05		-8,669,388.00		0.00		-7,395,780.37	
Current Year Depreciation	0.00		0.00		0.00		0.00		0.00		0.00	
Net Income	163,037.08		343,128.16		430,325.75		0.00		0.00		936,490.99	
Investment In Gen Fixed Assets	0.00		0.00		0.00		15,481,040.00		0.00		15,481,040.00	
Total Equity	801,927.61		706,231.21		701,939.80		6,811,652.00		0.00		9,021,750.62	

TOTAL LIABILITIES & EQUITY	
853,691.18		
706,231.21		
701,939.80		
6,811,652.00		
10,808,000.00		
19,881,514.19