Shingle Creek

Community Development District

Agenda

May 7, 2018

AGE NDA

Shingle Creek

Community Development District

135

W.

Central Blvd., Suite 320, Orlando, Florida 32801 Phone: 407-841-5524- Fax: 407-839-1526

April 30, 2018

Board

of

Supervisors

Shingle

Creek

Community

Development

District

Dear Board Members:

The will

meeting be held

of the Board of Supervisors of the Shingle Creek Community Development District Monday, May 7, 2018 at 12:00 p.m. at the Oasis Club at ChampionsGate, 1520

Oasis Club Blvd.,

ChampionsGate,

Florida.

Following is

the

advance

agenda

for

the

regular

meeting:

1.

2.

3.

4.

5.

6.

7.

8.

9.

Roll Call						
Public Comment Period						
Organizational Matters						
A.	Appointment of Individual to  Fulfill the	Board Vacancy with	a  Term	Ending		
	November 2021						
B.	Administration of Oath of Office to Newly	Appointed Board Member			
					
C.	Consideration of Resolution 2018-04 Electing Officers				
Approval of Minutes of the March 5, 2018 Meeting					
Review and Acceptance of the Fiscal Year 2017 Draft Audit Report				
Consideration of Resolution 2018-05	Authorizing	the Establishment of	a State Board of		
Administration (SBA) Account						
Consideration of Resolution 2018-06	Approving the Proposed Fiscal Year 2019	Budget		
and Setting a Public Hearing						
Consideration of Series 2015 Requisitions #18 - #19				
Staff Reports						

10.

11.

12.

A.	Attorney

B.	Engineer

C.	District Manager's Report			
	i.	Approval of Check Register		
	ii.	Balance Sheet and	Income Statement		
					
	iii.	Presentation of Number of Registered		
				
Other	Business			
Supervisor's	Requests			
Adjournment			

Voters - 246

The	second	order	of	business	is	the  Public  Comment  Period	
opportunity	to be heard on propositions coming before the Board	
and	any other items.					

where the as reflected

public	has	an

on the agenda,

The third individual

order  of	business	is  Organizational  Matters.   Section  A  is  the	
to fulfill	the Board	vacancy with a term ending November 2021.	

appointed  of  an

Section B is the

administration

of

the

Oath

of

Office to

the

newly

appointed

Board

Member

and

Section C is

the

consideration of Resolution 2018-04 electing officers.

your review.

A

copy

of the Resolution is enclosed for

The fourth order of business is the approval minutes are enclosed for your review.

of the

minutes

of the

March

5, 2018 meeting.	The

The	fifth	order

establishment of

enclosed for your

of business a State Board review.

is	the  consideration  of	Resolution		
of	Administration (SBA)	account.	A		

2018-05 copy of

authorizing	the
the Resolution is

The sixth order of business is the			
budget for the	consideration of Resolution 2018-06		
	Fiscal Year 2019 and setting a public hearing.	Once		
budget will be	transmitted to the governing authorities at least	60 days		
hearing.  A copy of the			
	Resolution and proposed budget is enclosed for		

approving the	proposed	
approved, the	proposed	
prior to the final budget	
your review.		

The seventh Copies of the

order of business is the consideration of the Series requisitions and supporting invoices are enclosed for

2015 your

requisitions  #18	-	#19.	
review.			

The  eighth	order  of business  is  Staff Reports.	Section 1  of the  District  Manager's	Report	
includes the	check register being submitted for	approval	and	Section 2 includes	the	balance	
sheet and income statement for your review.	Section 3 is the	presentation of the number of	
registered voters within the boundaries of the	District.	A	copy of the letter from	the	Osceola	
County Supervisor of Elections is enclosed for your review.					

The balance of the agenda will be discussed have any questions, please contact me.

at

the meeting.

In

the

meantime,

if

you

should

Sincerely,

George District

S. Flint

Manager

Cc:

Jan Carpenter, District Counsel

David Reid, District Engineer
Darrin Mossing, GMS

Enclosures

SECTION

Ill

SECTION C

		RESOLUTION 2018-04		
A RESOLUTION  OF THE		
SHINGLE  CREEK	BOARD OF  S'1J>ERVISORS  OF THE		
	COMMUNITY  DEVELOPMENT  DISTRICT		
ELECTING	THE			
		OFFICERS   OF   THE   DISTRICT   AND		
PROVIDING FOR AN EFFECTIVE DATE		

WHEREAS,

local unit of special Statutes; and

the Shingle Creek Community Development District (the "District") is a purpose government created and existing pursuant to Chapter 190, Florida

WHEREAS,  the  Board

Officers of the District.

of

Supervisors

of

the  District  ("Board")  desires  to  elect the

NOW,  THEREFORE,  BE  IT	RESOLVED	BY  THE  BOARD  OF		
				
SUPERVISORS   OF   THE   SHINGLE   CREEK   COMMUNITY		
DEVELOPMENT DISTRICT:				

Section

Section

Section

1.

2.

3.

__________ is elected Chairperson.

__________ is elected Vice-Chairperson.

__________	is elected Secretary.

Section

4.

__________ is
__________ is

__________ is
__________ is

elected Assistant Secretary.
elected Assistant Secretary.

elected Assistant Secretary.
elected Assistant Secretary.

Section

Section

Section

5.

6.

7.

---------  -	is elected Treasurer.		
			
----------	is elected Assistant Treasurer.		
			
This Resolution shall become effective immediately upon its adoption.		

PASSED AND

ADOPTED

this

ih

day

of

May, 2018.

ATTEST:	SHINGLECREEKCOMMUNITY	
	DEVELOPMENT DISTRICT	

Secretary/Assistant Secretary	Chairperson/Vice-Chairperson

M INUTES

	MINUTES OF MEETING	
	SHINGLE CREEK	
COMMUNITY DEVELOPMENT DISTRICT	
The  regular  meeting	of the  Board  of Supervisors  of the  Shingle  Creek  Community	
Development District was held on Monday, March 5, 2018 at 12:00 p.m. at the Oasis Club at	
ChampionsGate, 1520 Oasis Club Blvd., ChampionsGate, Florida 33896.	
Present and constituting a quorum were:	
Adam Morgan	Vice Chairman	
Mark Revell	Assistant Secretary	
Alvey Kaufman	Assistant Secretary	
Joe Catanzariti, Jr.	Assistant Secretary	
Also present were:		
George Flint	District Manager	
Andrew d' Adesky	District Counsel	
David Reid	District Engineer	
Brian Smith	Field Manager	
Michelle Barr	Lennar Homes	

FIRST

ORDER

OF

BUSINESS

Roll Call

and

Mr. Flint called the meeting to order and called the roll.

Mr. Flint:	I need Mr. Kaufman to sign the Oath of Office.	Are you on

have you filed the Form 1?

Mr. Kaufman:  Michelle, am I technically off of the Palm Bay Board?

Ms. Barr:  Yes

any other Boards

the

Mr. Flint:

Supervisor of

There's a Financial Disclosure Elections in the County you live

Form that has to be in. It's important to

filed within 30 days, with file that form. It's a State

requirement.	I  can go over the  other information after the meeting.   Mr.  Catanzariti is not	
present and Scott Johnston resigned.   Since there are three Board Members here, we have a	
quorum.		

SECOND

ORDER

OF

BUSINESS

Public Comment Period

March 5, 2018

There being none, the next item followed.

Shingle Creek CDD

THIRD ORDER OF BUSINESS

Approval of Minutes of the November 6, 2017		
Board	of	Supervisors	Meetingand		
Acceptance				
	of the Minutes	of the November		
6, 2017 Landowners' Meeting		

Mr.

Flint:	You have the minutes  from the November 6,  2017  Board

of

Supervisors

meeting and the November 6, 2017 Landowners' meeting.  Were there any comments?

Mr.

Morgan:  They look good.		
On MOTION by Mr. Morgan,		
seconded by Mr. Kaufman, with all	
in favor, the minutes of the November 6,	2017 Board of Supervisors	
Meeting were approved and the		
Minutes of the November 6, 2017	
Landowners' Meeting were accepted.		

FOURTH ORDER OF BUSINESS

Ratification

of

Series 2015 Requisition #14

Mr. Flint: Requisition #14 was in your agenda package for KPM Franklin, in the amount of $6,300. It will be funded out of the Construction and Acquisition Account. It's been signed by the District and the District Engineer. It was already submitted to the Trustee. We are asking the Board to ratify it.

On MOTION by Mr. Morgan, seconded by Mr. Kaufman, with all in favor, Requisition #14 for Series 2015 was ratified.

FIFTH ORDER OF BUSINESS

Consideration
-	#17 - Revised

of

Series 2015 Requisition #15

Mr. Flint:   We are asking for the Board's	approval on Requisitions #15 through #17.		
					
Requisition #15 is to Lennar for $3,055,535.89, for the	acquisition of hard and soft costs related		
						
to the construction of infrastructure, in	accordance with the Engineer's Report, related to the		
				
2015 bond issue.  This requisition is					
	required to be signed by a responsible officer of the District		
and  the  District  Engineer  has  to  sign  it,  attesting  that  the  improvements  are  reasonable  in		
accordance with the	Engineer's Report.	I think Dave has a summary of the costs, which he		
				
reviewed and recommends Board approval of?				

Mr.

Reid:  Yes.

2

March 5, 2018

Shingle Creek CDD

	Mr. Flint:	It's	not a requirement that the Board approve it in advance of it being funded,		
but we always like to put it on the agenda, so it covers everybody and gets in the District's		
records that way.  The detail is behind the summary.  If you have any questions, we can discuss		
those.  If not, I would ask for a motion to ratify Requisition #15.		
	Mr. Morgan:  I looked over it and it looks good.	If	Dave approves it, then I approve.		
		On MOTION by Mr. Morgan, seconded	by	Mr. Kaufman, with all		
		in favor, Requisition #15 for Series 2015, was approved.		
	Mr. Flint:  We have Requisitions #16 and #17, which I distributed.  Requisition #16 is for		
KPM Franklin,  in the  amount of $3,062.50 and Requisition #17  is to  KPM Franklin,  in the		
amount of $3,062.50.  Are there any questions on the requisitions?  If not, we need a motion to		
approve them.								
		On MOTION by Mr.	Morgan, seconded by Mr. Revell, with all in		
		favor, Requisitions #16 and #17 for Series 2015, were approved.		
SIXTH ORDER OF BUSINESS		Staff Reports		
	A.	Attorney						
	Mr. Flint:  Andrew, do you have anything?				
	Mr. d' Adesky:  Lennar is						
				contemplating some interaction with the County, and we want		
the Board to authorize the Vice Chairman and staff to negotiate the terms, and begin work on a		
Conveyance Agreement and possibly a Mobility Fee Agreement, to exchange assets that were		
paid for by the bonds in order to take advantage of the County's rate fee structure.  Once again,		
that's something we are going to be working on.  We would still have to negotiate terms, but we		
wanted to make sure that from a Board standpoint, we were authorized to proceed.  The final		
forms	of any agreements would come before the Board for approval.  It's not approving the final		
form	of anythfog.	We are just making sure that we are authorized and cleared to proceed on		
behalf of	the District.	We had some	conversations with Bond Counsel and with the District		
								
Engineer to make sure that we are doing it in accordance with the bonds.		

Mr.

Ms.

Morgan:	I understand.

Barr:  Is that the west gate?

3

March 5, 2018	Shingle Creek CDD		

Mr.

Mr.

d' Adesky:  A portion of the west gate, but it would involve the roads, right?

Reid:  Yes.  Natures Ridge Drive and U.S. Highway 192.

On MOTION by Mr. Morgan,	seconded by Mr. Revell, with all in		
			
favor, the Vice Chairman and Staff were authorized to negotiate the		
terms of a Conveyance			
Agreement and a Mobility Fee Agreement,		
to exchange assets that were paid for by the bonds in order to take		
advantage of the County's rate fee structure.		

Ms. Barr:  Dave, Mark was waiting on something from you for the west gate.		
Mr. d' Adesky:  We may have to	hold a				
		conference call, once he gives me the exhibits.		
After the	conference call, one of the items is the	construction timeline on when everything is		

going to be			If they see an inconsistency		
	finished, because the County is going to want that back.			
with						
something you filed, they will flag that set of documents.			

B.

Engineer

Mr.

Flint:  Dave, do you have anything?

Mr. Reid:  Yes.  Jim Cotter who owns the	property in that red weird shape line, in an		
			
outparcel within the London Creek Ranch conservation area that the District maintains, there are		
a lot of cows that come from offsite.  In this portion of his		
	property, Jim corrals the cows to get		
them from one pasture to another.  They have a way of		
	corralling them and loading them on		
trucks.  In the past, he had run through the CDD maintained property in between the two pastures		
and we made them stop.  He had fences up and then we had him remove them.  We still need to		
do that.  He can't lead them through here, because there's no fencing, so what he's asked us to do		

is

to

approve fencing.

Mr.

Catanzariti

joined

the meeting.

Mr. Flint:  I provided an Oath of Office to Mr. Catanzariti for his signature.

Mr. Reid: There is light blue fencing along the southeast side of the roadway. This is all the South Florida Water Management District (SFWMD) requires to cross that road. If we just put a piece of fence in that one section, 700 feet of fence, that will give them room to take the cows out through the gate, run them down this corridor and through the existing pasture. That way, they are not running through trees or the conservation area. They are running down a dirt road.

Mr.

Morgan:  The existing blue fence, Dave is owned by the SFWMD, correct?

4

March 5, 2018	Shingle Creek CDD		

Mr. Reid:	Yes.

Mr. Morgan: In our preliminary go ahead, as long as the other. He's fine with it. modification. Correct?

preliminary  discussions we only use the existing It  would  only  require

with Mark Addy, he's given us a road to move cattle from one pasture to a letter to the file and not a permit

Mr.

Mr.

Reid:	That's what

Morgan:	Correct,

I understand, yes, but it takes an but we have to approve it before

action we can

of the Board. submit it to the

District.

On MOTION by Mr. Morgan, seconded by in favor, authorizing Tim Carr & approximately 700 linear feet of new fence Creek property, was approved.

Mr. Catanzariti, with all

Associates	to	install

along the CDD London

Mr.

Reid:

That's

all I have.

C.

District Manager's Report

i.	. Approval of Check Register

Mr.	Flint:  You	have the Check Register for October 31	st	through February	26	th		
						,  for the		
General  Fund,  Checks  #173  through  #197,  totaling  $1,220,140.49.   The  detailed  register  is		
behind  the	summary.	A  number  of checks  are  related  to  moving  Debt  Service  assessment		
revenue to the Trustee.	Are there any questions on the Check Register?				
Mr.	Morgan:  I looked through it and it looked good to me.					
Mr.	Flint:  There's one check for $1,034,000.  Ifthere are no questions, we need a motion		

to approve it.

On MOTION by Mr. Morgan, seconded by Mr. Catanzariti, with all in favor, the Check Register was approved.

ii.	Balance Sheet and Income Statement

No

Mr. Flint:	You also

action is required by the

Mr. Morgan:	I don't

have the unaudited financial statements through January 31, 2018.

Board.  If you have any questions, we can discuss those.

have any questions.

5

March 5, 2018	Shingle Creek CDD		

SEVENTH ORDER OF BUSINESS

Other Business

There being none the next item followed.

EIGHTH

ORDER

OF

BUSINESS

Supervisor's Requests

There

being none the

next

item followed.

NINTH

ORDER

OF

BUSINESS

Adjournment

On MOTION by Mr. Morgan, seconded by in favor, the meeting was adjourned.

Mr.

Catanzariti, with all

Secretary / Assistant Secretary	Chairman / Vice Chairman	

6

SECTION V

SHINGLE CREE~

COMMUNITY DEVELOPMEJf

DISTR_ICT

SHINGLE CREEK COMMUNITY DEVELOPMENT DISTRICT		
	TABLE  OF  CONTENTS		
Year	Ended September 30, 2017		

I.	Financial Section:				
	Independent Auditor'sReport				
	Management'sDiscussion and Analysis			
	Financial Statements:				
	Government-Wide Financial Statements:			
	Statement of Net Position				
	Statement of Activities				
	Fund Financial Statements:				
	Balance Sheet - Governmental Funds			
	Statement of				
	Revenues, Expenditures and			
	Governmental Funds				
	Reconciliation of the Statement of			
		R~ues, Exp~itures and		
	Changes in Fund Balances of ~ernm	ntal Fun~>		
	to the Statement of Activiti	·		
	Statement of Revenues, Expenditu~"and	Changes in Fund Balance -		
	Budget and	;al Fund			
	Actual - G				
	Notes to Financial Statements				

II.	Compliance Section:		
			
Report on l~ternal tontrol over		
Independent Auditor's	Financial Reporting and on	
Compliance and	~er ~ ~ti' on an	Audit of Financial Statements		
					
Performed in	AcOO(d1ance with			
				
Management Cd'J;llm	Government Auditing Standards		
				
lndependen~ditor'sR8f)'li>rt	oR✓Compliance with the Requirements		
of Section ,2					
,18.415, Florida Statutes			

Page

1

3

7

8

9

10

11

12

13

25

27

29

MCDIRMIT

Ill

DAVIS

CERTIFIED PUBLIC ACCOUNTANTS AND ADVISORS

INDEPENDENT AUDITOR'SREPORT

To the Board of Supervisors																									
Shingle Creek Community Development District																		
Report on the Financial Statements																							
We have audited the accompanying financial statements of the	g•rnmental	activities	and each		
major fund		of the	Shingle Creek Community Development								
				Distat.tv(the "District"), as	of	and for the		
year ended									
	September	30,	2017,  and		the	related  notes "to		&e	financial	statements  which		
																
collectively comprise the District'sbasic financial	stateme	~-as							
			listaj'in	the table of contents.			
																										
														for the Financial S																
The District's						is	responsible	for	the	~	ration	and	fair presentation  of these		
							management										
financial state~ents	i~	~ccordance with. ac	. _l!Ulting	pri~es		gene~ally	accepte~	in	the United		
States of America; this	includes the design,	·mp1~sotat10	ynd	maintenance of internal control		
relevant to the										
	preparation and	fair presentati	~of	~~;statements that are free from material		
misstatement,	whether	due to fraud or-error.					~															
																											
Auditor'sResponsibility																									
Our responsibility	is to	e~ op~ons		on	these financial statements	based	on our audit.	We		
conducted		our	audit	io ~cco	·ce	itb auditing	standards	generally accepted	in	the United		
States of	America	qnd'the	stan ~rds applicable	to	financial audits contained in	Government		
Auditing Standards,		i~0ed by	the ¢omptroller General of the		United States.	Those standards		
require that		we plan							
			an	~erform the	audit to obtain reasonable assurance about whether	the		
financial	statements	are free M,material misstatement.															
																	
An  audit  involves	performing	procedures to	obtain  audit	evidence	about	the  amounts	and		
disclosures			in		the	financial									
							statements.		The	procedures	selected	depend	on	the	auditor's		
judgment,		including	the												
				assessment	of	the  risks  of material	misstatement  of	the	financial		
statements,		whether	due								
				to	fraud  or	error.	In	making	those risk assessments,  the auditor		
considers internal control relevant to the	entity'spreparation	and	fair presentation of the financial		
statements	in order to design procedures that are appropriate in	the circumstances, but not for the		
purpose of expressing an	opinion on the effectiveness of the	entity'sinternal control.	Accordingly,		
we express	no	such opinion.	An audit also includes evaluating the										
principles		used	and	the	reasonableness		of		significant				appropriateness of accounting		
										accounting	estimates	made	by		
management, as well														
	as evaluating the overall presentation of the	financial statements.					

We	believe that	the	audit evidence		
					
basis for our audit opinions.		

we

have obtained

is

sufficient

and

appropriate to provide a

McDIRMIT

DAv1s

&

CoMPANY,

LLC

934

NORTH

MAGNOLIA

AVENUE,

SlITTE

100

ORLANDO,

FLORIDA

32803

TELEPHONE:

407-843-5406 FAX:

407-649-9339

EMAIL:

INFO@MCDIRMITDAVJS.COM

MEMBERS:

PRJVATECOMPANIES PRACTICE SECTION AMERlCAN

INSTITIJTE

OF

CERTIFlED PUBLIC ACCOUNTANTS FLORIDA

INSTITIITE

OF

CERTIFIED PUBLIC ACCOUNTANTS

1

Opinions																			
In our opinion, the financial statements referred to above present fairly, in all material respects, the		
respective financial position of the governmental	activities, and	each major fund of the Shingle		
Creek									as	of September	30, 2017,	and the respective changes		
Community Development District,						
in financial position thereof and	the respective budgetary							
year then ended in accordance	with					comparison for the General Fund for the		
		accounting principles generally				
of America.															accepted in the United States		
																			
Other Matters																		
Required Supplementary Information											
Accounting  principles	generally	accepted	in  the  United	States  of America  require  that  the		
								
management'sdiscussion and analysis starting on	page 3,			
		be	pre~nted to supplement the basic		
financial statements.  Such information,	although not a part of~e basic financial statements, is		
required by the Governmental Accounting Standards Board,~		o-		an essential		
part of financial reporting for placing the basic financial				considers it to be			
	st.,,en~, in an appropriate operational,		
economic or	historical  context.		We have	applied  certal n limite	~rocedures to	the  required		
								
supplementary information	in accordance with auditi!)8 '~ndards	gene~ accepted	in the United		
States of																the methods of preparing the		
America, which consisted of inquiries of ml(nagem~about			
information and	comparing the information for consi~with	management'sresponses to our		
inquiries, the basic financial	statements, and	her	kno~ge we obtained during our audit of the		
basic financial	statements.		We	do not	exwes{	an opi~h'>or provide any assurance on the		
information because the limited procedures d · 'not ~		µs with sufficient evidence to express		
an																			
opinion or provide any assurance.												

Jr:!_a_			~ing Standards, we have also issued a report dated ~1:>rif__  ,		
Qcordance with Government			
@1~, on our considerati@6,,e,f~"'ShingJe. Creek Community Development District's, internal control		
over		and our te~ts of~compliance with certain provisions of laws, regulations,		
financial reportioo			
contracts, grant				is to	describe the scope		
of our testing	agre~ents and other matters.  The purpose of that report				
	of intema1 ,eontrol	~r financial reporting and compliance	and	the results of that		
testing,  and	not to  provi · . ·a□	,ppinion  on the  internal control  over financial  reporting  or on		
compliance.  That report is an integral part of an audit performed in accordance with Government		
Auditing  Standards  in	considering  the  District's internal	control  over financial  reporting  and		
compliance.					

f)/,c/liuni.t

Daui4

&

fMn!JCVUf

LLl

Orlando, Florida

April_,

2018,

2

MANAGEMENT'SDISCUSSION  AND  ANALYSIS

Our	Shingle Creek Community Development District (the		
discussion and analysis of the			
financial accomplishments provide	an	overview of the District'sfinancial activities for		
ended				
				
September 30, 2017.  Please read it in		
		conjunction with the District'sIndependent		
Report, financial statements and accompanying notes.		

"Districr)
the year
Auditor's

This					
information is being presented to provide additional			
District and to meet the disclosure requirements of	information regarding the activities of the		
	Government Accounting Standards Board		
Statement (GASS)	No. 34, Basic  Financial  Statements  - and Management's  Discussion	and		
Analysis - for State	and Local Governments issued June 1999.			
Financial Highlights				

•	The  assets  of  the  District  exceeded  its  liabilities  at  September
	$47,012,478, a decrease of			
•	$409,972 in comparison witlt-Jhe prior year.		
	At September 30, 2017, the	District'sgovernmentaJ~nds reported a		
	balance of $8,426,666, a decrease of $6,076,416 in ,0Qmparison with the		

30,	2017	by

combined fund prior year.

Overview

of

the

Financial Statements

This	discussion and analysis	is intended to s~	as	~,, introduction to the Shingle Creek		
Community	Development	District's financial	stata.n1IDlh•ho.	The District'sfinancial statements		
comprise three	components:	1)	goverl'.lAlent-wide	ncial  statements, 2) fund  financial		
statements and 3) notes to financial stat~-~-t-					
Government-Wide Financial Statements							
The	government-wide finar:idal sta	~ents	~~	designed to provide readers with a broad		
						
overview of	the District'sfin	s	-1\J	-a~		r similar to a private-sector business.		
The	statement	of .J(E;t p~.ftion	resents	information	on	all  of the  District's assets and		
liabilities, with th~'flrrference				two reported as net position.  Over time, increases		
or			in		~e01J>the			
				nef~osition may serve as a useful indicator of whether the financial position		
decreases				
of the District	is	imprt1;-Jing	or ~	eriorating.						
The statement of activities,.presents	information showing how the government'snet position		
changed during the most recent fiscal year. All changes in net position are reported as soon		
as the underlying event giving rise to the change occurs, regardless of the timing of related		
cash flows.  Thus, revenues and	expenses are reported	in this statement for some items		
that will only result in cash flows in future fiscal periods.			
The  government-wide  financial  statements  include  all  governmental  activities  that  are		
principally supported by special assessment revenues.	The District does not have any		
business-type  activities.   The  governmental  activities  of  the  District  include  general		
government and		and operations related functions .		
				maintenance			

3

	MANAGEMENT'SDISCUSSION  AND  ANALYSIS  (CONTINUED)		
Fund Financial Statements												
A fund is	a grouping	of related accounts that is		used to maintain control over resources that		
have been segregated for specific activities or	objectives.  The District, like other state and		
local  governments,	uses fund	accounting  to ensure	and  demonstrate compliance with		
finance-related  legal	requirements.	The District  has	one fund  category:  Governmental		
Funds.							
															
Governmental  Funds  -	Governmental funds are used to account for essentially the		
same	functions  reported	as governmental activities in the government-wide financial		
statements.  However, unlike the government-wide financial statements, governmental		
fund	financial  statements	focus	on  near-term  inflows  and  outflows  of  spendable		
resources, as well as on	balances of spendable resources available at the end of the		
fiscal year.  Such information may be useful	in	evaluating	)District'snear-term financing		
requirements.												
														
Because the focus of governmental funds is narr9'ertti~that of the government-wide		
financial statements, it is	useful to compare	the~ormation,presented for governmental		
funds with similar information presented for				ac~ies in the government-		
									¥ernmental			
wide financial	statements.	By doing so, "atlers	~y better understand the long-term		
impact of the government'snear-term				. cisions.	Both the governmental fund		
							financ~-				
balance sheet and the governmental. fund	sta~ent of	revenues, expenditures and		
changes in fund balances provide ;	r~liation	· ,,facilitate this comparison between		
governmental funds and government	'acti		j,e,(.					

The District separately in of revenues, service fund

maintains thr ~/ in ·vidual~overnmental funds.   Information is presented		
the		~	sheet and the governmental fund statement		
gover~ntal fu~d bala				
expendit~s, ane,..c~,.in	fund	balances for the general fund, debt		
and ca  ital p	~Gfs fund, an					
		of which are considered to be major funds.		

The District adppts an ~nual

comparison ~6ll"edule has ble,en
with the budget.

•propriated provided for

budget for its general fund.	A budgetary

the general fund to demonstrate compliance

Notes to Financial Statemenq;,

The notes provided in

provide additional information the government-wide and fund

that is essential to a financial statements.

full

understanding

of

the

data

Government-Wide Financial Analysis

Statement of	Net Position	- The District'snet position was		
2017.  The	following analysis focuses on the net position		
activities.			

$47,012,478 at September 30, of the District'sgovernmental

4

MANAGEMENT'SDISCUSSION  AND  ANALYSIS  (CONTINUED)

Government-Wide Financial Analysis (Continued):

Shingle Creek Community Development District

Statement of Net Position

Assets, excluding capital assets

Capital Assets, net of depreciation

Total assets

Liabilities, excluding long-term liabilities Long-term Liabilities

Total liabilities

September 30,	
	2017	
$	8,453,430	
	59,8831848	
	68,337,278	
	473,870	
	20,850,930	
	'!'1324,800	
	,	

September 30,	
	2016	
$	14,596,463	
	541558,005	
	69,154,468	
	545,698	
	21,186,320	
	21,732,018	

Net Position:

Net investment in capital assets

Restricted for debt service

Unrestricted

Total net position

The following is a summary of the Distri September 30, 2017 and 2016.

		46,055,127	
		1,157,023	
		210,300	
47,012.478	$	47.422.450	
Q¥_er.nmen~ctivities for the fiscal years ended	

Revenues:

Program revenues

Total revenues

Expenses:

General government

Maintenance and operations

Interest on long-term debt

Total expenses

Change in net position

Net position - beginning of

Net position  - ending

year

	2017			2016	
$	1,864,891	$	1,852,195	
	1,864,	891		1,852,195	
	123,637		88,100	
	1,067,520		1,026,342	
	1,083,706		1,095,170	
	2,274,863		2,209,612	
	(409,972)		(357,417)	
	47,422,450		47,779,867	
$	47,012,478	$	47,422,450	

5

MANAGEMENT'S DISCUSSION	AND  ANALYSIS  (CONTINUED)

Government-Wide Financial Analysis (Continued):

As noted above and in the statement of activities, the cost the year ended September 30, 2017 was $2,274,863. comprised of maintenance and operations and interest on

of all governmental activities during		
The	majority	of these costs are		
				
long-term debt.			

Financial

Analysis

of

the Government'sFunds

The District uses fund accounting to ensure and demonstrate compliance with finance related		
legal requirements.  The focus of the	District'sgovernmental funds is to provide information on		
near-term inflows, outflows and balances of spendable	resources.  Such information is useful in		
assessing the District'sfinancing	requirements.	In				
			particular,	unassigned fund balance may		
										
serve as a useful measure of a government'snet resources					
	available for spending at the end of		
the fiscal year.  At September 30, 2017, the District'sgovernmental funds reported combined		
ending fund balances of												
			$8,426,666.  Of this total, $19,653 is,,		
restricted and $278,826 is	unassigned.							nonspendable, $8,128,187 is		
										
The fund balance of the general fund increased	$87,0~ due Ja. special assessment revenue		
exceeding	expenditures.		The debt service fund		7					
				b~nce		inc~sed  $13,887.   The capital		
projects fund decreased													
		$6,177,358 due to capital ~ay e;pendit~s?		
General Fund Budgetary Highlights											
An operating budget was	adopted and ~intained ~	- the	governing board for the District		
								
pursuant to the	requirements of	Florida	.St~..						
				Tlie .lf>udget is adopted using the same		
basis of accounting that is used in prepa~tfon~rthej:md	financial statements.  There were		
no  amendments  to the	Septe~	30,	01,t						
				general  fund  budget.   The  legal  level  of		
budgetary control is at the funti:,evel.										

Capital Asset and Debt Adminl~r.at.u:·11,1. ---			
Capital	Assets  -	At S'Sfitem~30,	2017,  the  District  had  $59,883,848		
					
infrastructure, _ne!,OJ,,accun:,u~d				
	de()reciation.  M~re detailed information about		
capital assets Is p	sented m the notes to the financial statements.		

invested in the District's

Capital Debt - At Sep~'mb , 30, 2017, the District had $21,120,000	in	
More detailed informatioA  bout the District'scapital debt is presented	
financial statements.		

bonds outstanding. in the notes to the

Requests for Information

If you have questions about this report or need Shingle Creek Community Development District's Suite 320, Orlando, Florida 32801.

additional financial information, contact the		
Finance	W.	Central Blvd,		
Department at 135				

6

SHINGLE  CREEK COMMUNITY DEVELOPMENT DISTRICT

STATEMENT

OF

NET  POSITION

September 30,  2017

Assets:

Cash

Assessments receivable

Prepaid costs

Restricted assets:

Temporarily restricted investments

Capital assets:

Capital assets not being depreciated

Capital assets  being depreciated, net

Total assets

Liabilities:

Accounts payable and accrued expenses

Accrued interest payable

Noncurrent liabilities:

Due within one year

Due in more than one year

Total liabilities

Net Position:

Net investment in capital assets

Restricted for debt service

Unrestricted

Net position

Governmental	
	Activities	
$	304,556	
	5,976	
	19,653	
	8,123,245	
	35,695,344	
	24,188,504	
	68,337,278	
	26,764	
	447,106	
	360,000	
	20,490,930	
	21,324,800	
	45,537,878	
	1,176,121	
	298,479	
$	47,012,478	

The accompanying Notes to

Financial

Statements are

an

integral

part

of

this statement.

7

SHINGLE  CREEK COMMUNITY  DEVELOPMENT DISTRICT

STATEMENT  OF  ACTIVITIES

Year Ended  September 30,  2017

Functions/Programs

Governmental activities:

Expenses

Charges

for

Services

Program Revenue

Operating Grants

and

Contributions

Capital Grants

and

Contributions

Net (Expense)

Revenue and

Changes in Net

Position

Governmental Activities

General government

Maintenance and operations

Interest on long-term debt

Total governmental activities

$	123	,637	$	37,931	$	$		-	$	(85	,706)		
	1,067	,520		327,507									
										(740	,013)		
	1,083,706		1,431	,273									
							61,259		415	,747		
													
$	2,274	,863	$	1,796	,711		$	61	,259		(409,972)		
General Revenues:												
	Change in	net positi							(409	,972)		
Net Position - beginning											
								47,422	,450		
														
										$	47,012,478		

The accompanying Notes to Financial Statements are an 8

integral

part

of

this statement.

SHINGLE  CREEK COMMUNITY  DEVELOPMENT DISTRICT

BALANCE  SHEET

GOVERNMENTAL  FUNDS

September 30,  2017

Assets:

Cash

Investments

Assessments receivable

Prepaid costs

Total assets

Liabilities and Fund Balances:

Liabilities:

	General	
$	304,556	
	1,034	
	19,653	
$	325,243	

	Debt Service		Capital		
			Projects		
$		$			
	1,618,285		6,504,960		
	4,942				
$	1,623.rl7	$	6,504,960		

	Total	
Governmental	
	Funds	
$	304,556	
	8,123,245	
	5,976	
	19,653	
$	8,453,430	

Accounts payable and accrued expenses

Total liabilities

Fund Balances:

Nonspendable

Restricted for:

Debt service

Capital projects

Unassigned

Total fund balances

$		$	$	26,764		
						
				26,764		
				19,653		
				1,623,227		
		6,504,960		6,504,960		
				278,826		
1,623	,227	6,504,960		8,426,666		

	325,243	$	1,623,227	$	6,504,960		
Amounts reported for governrn~rital activities	(he statement of net	position are				
different because:							
Capital assets used in governmental a~tles are not financial resources and therefore are not reported in		
the funds.					59,883,848		

Liabilities not due and payable from current available resources are not reported in governmental fund		
statements. All liabilities, both current and long-term, are reported in the government-wide	statements.		
	Accrued interest payable	(447,106)			
	Bonds payable	;20,sso,93ol			
Net	of Governmental Activities				
Position					

$

(21,298,036	)	
47,012,478		

The accompanying Notes to Financial Statements are an integral part of this statement.

9

SHINGLE  CREEK COMMUNITY  DEVELOPMENT DISTRICT

STATEMENT  OF  REVENUES.	EXPENDITURES  AND  CHANGES	
	GOVERNMENTAL  FUNDS	

IN

FUND

BALANCES

Year Ended  September 30,  2017

Revenues:

Special assessments

Investment income

Total revenues

Expenditures:

Current:

$

General

365,438

365,438

	Debt Service	
$	1,431 ,273	
	6,921	
	1,438,194	

Total

Capital	Governmental

Projects	Funds

$	    $	1,796,711

61,259	68,180

61,259	1,864,891

General government

Maintenance and operations

Debt service:

Interest

Principal

Capital outlay

Total expenditures

Net change in fund balances

Fund Balances - beginning of year

Fund Balances - end of year

116,137						116,137		
								
162,246						162,246		
								
						1,079,307		
						345,000		
			6,238,617		6,238,617		
	1,424,307		6,238,617		7,941,307		
							
	13,887		(6	,177,358)		(6,076,416)		
								
	1,609,340		12,682,318		14,503,082		
$	1,623,227	$	6,504,960	$	8,426,666		

The accompanying Notes to Financial Statements are an integral part of this statement. 10

SHINGLE CREEK COMMUNITY DEVELOPMENT DISTRICT		
RECONCILIATION  OF  THE  STATEMENT  OF  REVENUES,  EXPENDITURES  AND	
CHANGES  IN  FUND  BALANCES  OF  GOVERNMENTAL  FUNDS  TO	THE	
STATEMENT  OF  ACTIVITIES		
Year Ended September 30,  2017		

Amounts						
reported for Governmental Activities in the Statement of Activities are different because:		
Net change in fund balances - total governmental funds (page 10)					
Governmental funds report outlays for capital assets as expenditures because such outlays use		
current financial resources; however, in the						
statement of net position the cost of those assets is		
recorded as capital assets.  Depreciation on capital assets	is not recognized	in the fund statements		
but is reported as an						
expense in the statement of activities:						
Capital outlay			$	6,238,617		
						
Depreciation expense				(912,774)		
						
Repayments of long-term liabilities are reported as expenditures in.-,gpvemmental fun~	W!1ile		
repayments reduce long-term		• ,				
liabilities in the statement of net p~;tlon.					
Some			of current financial		
expenses reported in the statement of activities do not require the use			
resources and, therefore, are not reported as expendit	·	I funds.			

$

(6,076,416)

5,325,843

345,000

$

5,211

(9,610)

$

(4,399)

(409,972)

The accompanying Notes to Financial Statements are an integral part of this statement.

11

SHINGLE CREEK COMMUNITY DEVELOPMENT  DISTRICT

STATEMENT

OF

REVENUES, EXPENDITURES BUDGET AND  ACTUAL  -

AND CHANGES GENERAL FUND

IN

FUND  BALANCE

Year  Ended September 30,  2017

Revenues:

Special Assessments

Total revenues

Expenditures:

Current:

General government Maintenance and operations

Total expenditures

Excess (Deficit) of Revenues Over Expenditures

Net change in fund balance

Fund Balance - beginning

Fund Balance - ending

						Variance with		
							Final Budget		
	Budgeted Amounts		Actual		Positive		
			Amounts		(Negative)		
	Original		Final						
$	359,955	$	359,955	$	365,438	$	5,483		
	359,955				365,438		5,483		
	132,875				116,137		16,738		
	227.080				162,246		64,834		
					278,383		81,572		
					87,055		87,055		
					87,055		87,055		
					211,424				
			211 ,424	$	298,479	$	87,055		

The accompanying Notes to

Financial

Statements are

an

integral part of this statement.

12

SHINGLE CREEK COMMUNITY DEVELOPMENT DISTRICT

NOTES  TO  FINANCIAL  STATEMENTS

Year  Ended September

30,

2017

Note 1 - Summary Reporting Entity

of

Significant Accounting Policies:

The  Shingle  Creek  Community  Development  District,  (the	"District")  was  established  by		
Osceola  County  Ordinance  #05-15	enacted  on	May 23,				
				2005  pursuant to  the  Uniform		
Community Development District Act of 1980, otherwise known  as  Chapter 190, Florida		
Statutes.  The Act provides, among other	things, the power to manage basic services for		
community	development, the power to borrow money and	issue bonds, and the power to levy		
and collect non-ad valorem assessments for the financing	and	~livery of capital infrastructure.		
The  District was established for the  purpose of	financin		and  managing the	acquisition,		
construction,  maintenance and  operation  of a  portion		tile  infrastructure  necessary for		
community development within the District.								
The District	is governed by the Board of Supervi	(the."Board").~ich is composed of five		
members.  At present, the Supervisors are	ele~	on s~at large basis by the owners of the		
property within the	District.  The Board	of	Sup~JS of the District exercises	all powers		
granted to the			1~0. Flori~·statutes. At September 30,	2017, most		
	District pursuant to Chapter.				
of the Board of Supervisors are affiliated'~)te.__Deve~r,	LEN OT Holdings, LLC (Lennar).		
The District	is economically dependent	on	re Detf	e.r.>·					
					other things:					

3.

Exercising

4.

Controlling the u

'ef-ft}nds generated

by

the District.

5.

6.

Approving the hiring and firing of key personnel.

Financing improvements.

The  financial	statements  were  prepared	in	accordance	with	Governmental  Accounting		
							
Standards  Board  ("GASB")	Statements  14,	39  and	61.	Under the  provisions  of those		
standards, the financial							
	reporting entity consists of the				
		primary	government, organizations for		
						
which the District Board of					to be				
						financially accountable, and other		
		Supervisors is considered				
organizations for which the nature and significance of their relationship with the District are		
such that, if excluded , the financial statements of the		District would	be considered incomplete		
or			entities considered to be					
											
misleading. There are no		component units of the District; therefore,		
the financial statements include only the operations of the District.			

13

SHINGLE CREEK COMMUNITY  DEVELOPMENT DISTRICT

NOTES

TO

FINANCIAL  STATEMENTS	(CONTINUED)	

Year Ended  September 30,  2017

Note 1 - Summary of Significant Accounting Policies (Continued):

Government-Wide and Fund Financial Statements

The financial statements include both government-wide and fund financial statements.

The government-wide financial of activities) report information For the most part, the effect of

statements (i.e., the statement of net position and the statement

on all of the non-fiduciary activities of the primary government.

interfund activity has been removed from these statements.

The statement of activities demonstrates the	degree to whiGI), the direct expenses of a given		
function or	segment	is offset by program revenues.	Direci''~nses are those that are clearly		
identifiable with	a specific	function or segment.		P~m "'~r:iues  include 1) charges to		
customers who purchase, use, or directly benefit from/goods, se ··	s or privileges provided by		
a given function	or	segment and 2) grants,	co~butions	and i~tment income that are		
restricted to meeting the		r	l\Jirem~	of a particular function or segment		
			operational or capital					
and 3) operating-type special assessments that ~"~ted	as			
assessments for	maintenance and debtprvice).		charges for services (including		
		~er items not included among program		
revenues are reported		lies.	.				
			instead as genera1'J'e'						

Measurement Focus,

Basis

of

Accounting

,

'-d,,Financial

Statement Presentation

The	government-wide  finar:1	·al  sta~ents  are  reported  using  the  economic  resources		
measurement	focus and	the~ecrual~s[i'pt·apcounting.	Revenues are recorded when earned		
and expenses are						
	recorded w~ a liability is incurred, regardless of the timing	of related cash		
flows.		Assessments-1¥,e	~	,ni~-as revenues in	the year for which they are levied.  Grants		
and similar items	af~necogni   etas ~enues as soon as	all	eligibility requirements imposed by		
the provider have					
			n met.									
																
Governmental fund	fi•ial	statements are reported using the	current financial resources		
measurement focus	and	~	modified accrual basis	of accounting.	Revenues are recognized		
as soon as they are both measurable and available.	Revenues are considered to be available		
when they are collectible within the current period or soon								
														enough thereafter to pay liabilities of		
the current period.  For this purpose, the District considers	revenues to be available if they are		
collected within	60 days of the end of	the current fiscal period.	Expenditures are recorded		
when a liability	is		incurred, as under accrual accounting; however, debt service expenditures		
are	recorded only when payment is due.												
													
Assessments,  including  debt  service  assessments  and  operation  and  maintenance		
assessments, are non-ad valorem assessments			on	all lands located within the District		
and benefited by the District'sactivities.	imposed				
	Operation and maintenance assessments are levied		
by the	District prior to the start of the fiscal year	which				st				
						begins October 1	and ends	on		
September 30	th	.		These	assessments are imposed upon all	benefited lands	located in	the		

District.   Debt service special assessments are										
	imposed upon certain  lots and  lands	as		
described in each	resolution imposing the special assessment for each series of bonds issued		
by the District.  Certain debt service assessments are									
													collected upon the closing of those lots		
subject to short term debt and are used to prepay a portion of the bonds outstanding.			

14

SHINGLE CREEK COMMUNITY DEVELOPMENT DISTRICT

NOTES  TO  FINANCIAL  STATEMENTS	(CONTINUED)

Year Ended  September

30,

2017

Note 1 - Summary of Significant Accounting Policies (Continued):		
Measurement  Focus,  Basis  of  Accounting  and  Financial  Statement  Presentation		
(Continued):			
Assessments and interest associated with the current fiscal period are all considered to be		
susceptible to accrual and so have been recognized as revenues of the current fiscal period.		
Only the portion of assessments			
be	receivable due within the current fiscal period is considered to		
	susceptible to accrual as revenue of the current period.	All other revenue  items are		
considered to be measurable and available only when cash is r~ived by the District.		

The District reports the following

major governmental

fundsr.

General Fund resources of the fund .

- is the general

District's primary ope~4hg fund . government, except µfpse required

~ accounts for all to ~accounted for in

financial another

Debt Service Fund - accounts for principal and interest on long-term

the..accumula ·. de~t~

,

of

resources for the annual

payment

of

Capital Projects Fund - acquisition or construction

accounts for tbe,		
of!1'1awinfras ,	accumulation of resources to be used in the		
	.cture within the District.		

As a general rule, the effect 'Qf'inter:fopcf-@iw'has been eliminated from the government-wide		
financial statements.  When botfoostricted and	unrestricted resources are available for use, it		
is the District'spolicy1o	tt~" restn	d	resources first, then unrestricted resources as they are		
needed.					
						
Assets,  Liabilities,						
Balance						

Restricted Assets covenants.

-

These assets represent cash and investments set aside pursuant to bond

Deposits and Investments - The District'scash and cash equivalents are considered to be cash on hand and demand deposits.

Investments of the District are reported at fair value and are categorized within	
hierarchy established in accordance with GASB Statement No. 72, Fair Value	
and Application.	The District'sinvestments consist of investments authorized	
with Section 218.415, Florida Statutes.	

the fair value Measurement in accordance

Prepaid Items -

periods and are statements.

Certain payments to vendors reflect	costs applicable to future accounting		
recorded  as  prepaid  items  in  both	government-wide  and  fund  financial		

15

SHINGLE  CREEK COMMUNITY  DEVELOPMENT DISTRICT		
	NOTES  TO  FINANCIAL  STATEMENTS  (CONTINUED)		
	Year Ended  September 30,  2017		
Note 1 - Summary of Significant Accounting Policies (Continued):		
Assets,  Liabilities,  Deferred  Outflows/Inflows  of  Resources  and  Net  Position/Fund		
Balance (Continued):					
Capital Assets - Capital assets, which include property, plant, equipment and infrastructure		
assets (e.g., utilities system, stormwater system,				
the applicable	governmental	landscaping and similar items), are reported in		
		activities column in	the	government-wide financial statements.		
						
Capital assets are defined by	the government as				
		assets with an initial, individual cost of more		
than $5,000 and an estimated useful life in excess of two year:,s., Such assets are recorded at		
historical cost or estimated historical cost if purchased or co~tructed.  Donated capital assets		
are recorded at					
	acquisition value at the date of donation.		

The costs of normal maintenance and materially extend assets lives are not improvements are capitalized as projects

repairs tha~	·not	add~, the value of	
capitali~~	Mc;1jor	outla~ for capital	
are co~ttucted._ ·			

the asset or assets  and

Property,	plant and equipment	of the District are	depreciated using the straight-line method		
over the following estimated useful lives: '					
								
												Years				
												30				
Long Term Obligations -	In ~e	government-wide financial statements, long-term debt and		
other long-term	obli~	are	~rted as liabilities in the statement of net position.  Bond		
premiums and dis4>unts are ~efe•c;f  and amortized over the life of the bonds using the		
straight-line met		)-.	Bonds payable are reported net of premiums or discounts.				
In the fund financial	tatE:~  JlfS,	governmental fund types recognize bond  premiums and		
discounts, as well as	bol'tQl~suance costs, during the current period.  The face amount of debt		
issued is	reported	as other financing sources.  Premiums received on debt issuances are		
reported as other financing sources while	discounts on debt issuances are reported as other		
financing  uses.   Issuance costs,  whether or not withheld  from the actual  debt proceeds		
received, are reported as expenditures.								
Deferred Outflows/Inflows of	Resources	- In addition to assets, the statement of financial		
position will sometimes report a separate section for deferred outflows of resources.  This		
separate	financial	statement	element,		deferred  outflows	of  resources,	represents	a		
consumption of net position that applies to a future period(s) and so will not be recognized as		
an outflow of resources	(expense/expenditure) until then.  The District does not have any item		
that qualifies for reporting in this category for the year ended September 30, 2017.			

16

SHINGLE  CREEK COMMUNITY  DEVELOPMENT DISTRICT NOTES  TO  FINANCIAL  STATEMENTS  (CONTINUED) Year Ended September 30,  2017

Note 1 - Summary of Significant Accounting Policies (Continued):

Assets, Liabilities, Deferred Balance (Continued):

Outflows/Inflows

of

Resources

and

Net

Position/Fund

Deferred	Outflows/Inflows of Resources (Continued) -	In	addition to liabilities, the statement		
								
of financial position will sometimes report a separate section for				
This	separate	financial	statement	element,		deferred  inflows	deferred inflows of resources.		
							of resources,	represents  an		
acquisition	of	net	position that applies to a future											will not be recognized as an		
																									period(s) and so			
inflow of resources (revenue) until that time.  The District does,npt have any item that qualifies		
for reporting	in	this category for the year ended September 30.,	2017.			
Net Position Flow Assumption	-	Sometimes the	Di~ict		wi( fund outlays for a particular		
purpose from both restricted and unrestricted	resou~.	In		order to.. calculate the amounts to		
report as restricted net	position	and	unrestricted		,t	position	in	the -government-wide financial		
statements,	a		flow	assumption must be made about	~·order	in which the resources are		
considered to		be	applied.	It	is	the District'spolicy	ftJ 12:onsider	restricted net position to have		
been depleted before	unrestricted net posioon	is	app	·							

Fund  Balance		Policies	-	Fund	balan~\	of		~r;nental		funds  is  reported  in  various		
categories based		on	the nature of	any im~t~ns	requiring the use of resources for specific		
purposes.		The	District itself	~	eslablish	11							
								'tationson	the use of resources through either		
commitment	(committed	fund~lanc~~r an	a~j														
																								,y	gnment (assigned fund balance).		
																																							
The committed fund	balaQce	~ssification includes fund balance amounts that can be used		
only for the specific,p~oS9.t>°'det~	ined by	a formal action		of	the government'shighest level		
of decision-maki				authority. ~	e Board of Supervisors is the	highest level of decision-making		
authority for the g		emment that 'can, by adoption of an	ordinance or resolution prior to the end		
															
of the fiscal year, co~		t fund	,ranee.  Once adopted, the limitation imposed by the ordinance		
or resolution	remains	in		Dice,until a similar action is taken to	remove or revise the limitation.		

Amounts	in	the			assigned  fund  balance  classification  are	intended  to  be	used  by  the		
																
government for specific purposes but do not meet the								
	criteria to	be classified	as committed.		
The Board	of	Supervisors has authorized the District						
			Manager to	assign amounts for specific		
purposes.								
		The			Board  of Supervisors  may  also  assign  fund  balance  as	it  does  when		
appropriating fund balance to cover a gap between estimated	revenue and appropriations in		
the subsequent year'sappropriated budget.  Unlike commitments, assignments generally only		
exist	temporarily.			In	other words,	an additional action does not normally have to be taken for		
the	removal	of		an	assignment.	Conversely,	as	discussed	above an  additional  action  is		

essential to either remove or revise a commitment.											
														
Other Disclosures																													
Use		of	Estimates	-	The	preparation of financial	statements in  conformity with  generally		
									
accepted accounting principles requires management to make	estimates and assumptions that		
affect the reported	amounts of assets and liabilities, and						
		disclosure of contingent assets and		
															
liabilities at the date of the financial statements, and the			
	reported amounts of	revenues and		
expenditures during the reporting period. Actual	results could differ from those estimates.		

17

SHINGLE CREEK COMMUNITY DEVELOPMENT DISTRICT		
NOTES  TO  FINANCIAL  STATEMENTS  (CONTINUED)		
Year Ended  September 30,  2017		
Note 2 - Stewardship, Compliance and Accountability:				
Budgetary Information				
The District is required to establish a				
budgetary system and an approved annual budget for the		
General Fund.  Annual budgets are adopted on a basis consistent with accounting principles		
generally	All	annual appropriations lapse at the		
accepted in the United States of America.				
fiscal  year end.   The  legal level of budgetary control	is at the fund  level.   Any budget		
amendments that increase the aggregate budgeted				
appropriations, at the fund level, must be		
approved by the Board of Supervisors.				

The District follows these procedures financial statements.

in

establishing

th(~

.

oodgetary

data  reflected

in

the

1.

Each fiscal

year the District Manager submits year commencing the following O

tp ~e District Boara_groposed budgets for the
ber 1.	·

2.

A public hearing is conducted to obtain

publi~ments.

3.

Prior to

October

1,

the

budget

is

le

ally

ae~py

the District Board.

4.

Subject to certain limited, e>C~ptions adopted each year, altbudgetcf,lange

et forth in the District'sappropriation resolutions ~ust be approved by the District Board.

Note 3 - Deposits and lnvestmentst					
Deposits									
The District'scash	balances were entirely covered by federal depository insurance or by a		
collateral pool pledged to the State Treasurer.  Florida Statutes Chapter 280, "Florida Security		
for Public Deposits Act", requires all qualified	depositories to deposit with the Treasurer or		
another banking institution eligible collateral equal to various percentages of the average daily		
balance for each month	of	all public deposits	in excess of any applicable deposit insurance		
held.	The  percentage	of	eligible  collateral  (generally,  U.S.  Governmental  and  agency		
securities, state or local government debt, or				
upon the depository'sfinancial history and	corporate bonds) to public deposits is dependent		
	its compliance with Chapter 280.	In the event of a		
failure of a qualified public depository, the	remaining public depositories would be responsible		
for covering any resulting losses.			

18

SHINGLE CREEK COMMUNITY DEVELOPMENT  DISTRICT

NOTES  TO  FINANCIAL  STATEMENTS  (CONTINUED)

Year Ended  September

30,	2017	

Note 3 - Deposits and Investments (Continued):							
Investments												
The  District  categorizes  its  fair  value  measurements  within  the  fair  value  hierarchy		
established by generally accepted accounting	principles.  The fair value is the price that		
would be received to sell an asset, or paid to transfer a liability, in an orderly transaction		
between market participants at the	measurement date. The  hierarchy is based	on the		
valuation inputs used to measure the fair value of the asset.	.				
Under GASB 72,	assets or liabilities are classified into o					
		of three levels. Level	1	is the		
most reliable and	is based on quoted price for identica1,,°'ssets,or liabilities, in an	active		
market. Level 2 uses significant other	observable in~ w	obtaining quoted prices for		
identical or similar assets, or liabilities, in	marketsiM'atare not active. Level 3 is the least		
reliable, and uses significant unobservable	inp~that µses	the~t information available		
under the circumstances, which includes the	~strict's-6yvndata in measuring unobservable		
inputs.								

8,123,245

are valued using Level

2

The  District's		- ~d  by  State  Statutes  and		
investment  ~licY,			
Indenture.  This policy.allows			
	1f\Ve:stments in any financial institution that		
depository of the St(te of -F.l©rida	J:1s identified by the State Treasurer,		
Chapter 280 of the'.FloridaS	::._tes. Authorized investments are:		

the  District Trust

is a qualified public

in accordance with

1.

2.

3.

4.

The State B	r,d of A	~inistration Local Government Investment Pool (SBA);		
				
Securities and Exchange Commission Registered Money Market Funds with the		
highest credit quality rating from a nationally recognized rating agency;			
Interest-bearing  savings  accounts  and  certificates  of  deposit  in	state-certified		
qualified public depositories;			
Direct obligations of the U.S. Treasury.			

Investment Type

Fidelity Government Portfolio Fund #57

Fair Value

$	8,123,245

Credit

Rating

AAAm

Weighted

Average

Maturity

30 Days

19

SHINGLE CREEK COMMUNITY DEVELOPMENT  DISTRICT

NOTES  TO  FINANCIAL  STATEMENTS  {CONTINUED)

Year Ended  September

30,

2017

Note 3 - Deposits and Investments (Continued):

Credit

Risk:

The District's investment policy limits credit risk by restricting authorized investments to		
those	described.  Investments in	U.S. Government								
												securities and agencies must be backed		
by the full faith and credit of the United States Government.  Short term bond funds shall be		
rated	by a nationally	recognized ratings agency and shall maintain the highest credit quality		
rating.					
																			
Custodial Credit Risk:																
In the case of deposits, this is the risk that, in	the	~nt '-Q_'a{	bank failure, the District's		
deposits may not be returned to it.	The	Distric ;(	investme~'policy	requires that bank		
deposits be	secured	as	provided	by	Chapter 28-9y					
						Florid_a Statut~, This law requires local		
governments to deposit funds only	in financ~	instit1.1t1,©hs  designated	as qualified	public		
depositories by the Chief	Financial Officer of t	·~te of Florida, and	creates the	Public		
Deposits Trust Fund,	a multiple financialla~titution	~I	with the ability to assess its member		
financial  institutions	for	collater~I  ~ho"	a~&- _if a ~~fa	It) o~ insol~~ncy	ha_s occur~ed:	At		
September 30, 2017, all	of the District's	ti1k d~s..~ere in qualified public depositories.		
For an	investment, this is the 'fJSk~	~t.	in ~ e event of the failure of the counterparty,	the		
government will not	be	abl,e /to recov,r the	a!ue	of	its investments or collateral securities		
that are in	the possessioh of aA ~	13arty.	At September 30,  2017,  none of the		
investments	listed  are	expo~d	o	custo ial  credit  risk  because  their existence	is	not		
evidenced by securit1~s-thafexisl	ih,physical or book entry form.						

Concentration

of

Mdit

Risk:

The District's						
	.	investme~)olitydoes not specify limits on the amount the District may invest in		
			'					
any one issuer.						
Interest Rate Risk:						
The District'sinvestment policy does not	specifically address interest rate risk; however, the		
general	investment policy is	to apply the	prudent-person rule:  Investments are made as a		
prudent person would	be expected to act,	with discretion and	intelligence, to seek reasonable		
income, preserve capital, and	in general, avoid			
its					speculative investments. The District manages		
						pooled investments that have a		
exposure to declines in fair values by investing primarily in			
weighted average maturity of less than three months.			

20

SHINGLE  CREEK COMMUNITY  DEVELOPMENT DISTRICT NOTES  TO  FINANCIAL  STATEMENTS  {CONTINUED) Year  Ended  September 30, 2017

Note 4 - Capital Assets:

Capital asset activity for the year ended

September

30,

2017 was as follows:

Governmental Activities:

Capital Assets, not being depreciated:

Land and land improvements

Infrastructure under construction

Total capital assets, not being depreciated

	Beginning		
	Balance	Additions	
$	22,315,159	$	
	7,141 ,568		
	29,456,727		

		Ending		
Dlsposals	-	Balance		
		- ---		
$	$	22,315,159		
		13,380,185		
		35,695,344		

Capital Assets Being Depreciated:			
Infrastructure	27,383,213		
			
Total capital assets, being depreciated	27,383,213		

Less Accumulated Depreciation for:

Infrastructure

Total accumulated depreciation

Total capital assets being depreciatedr Aat

$

(912,774)	-	-	-		(3,194,709)		
(912,774)	----		(3,194,709)		
					
(912,774)					24,188,504		
5,325,843		$		$	59,883,848		
	====				

Depreciation expense1f>r~171R the amount of $912,774 was charged to maintenance and operations.

Note 5 - Long-Term

Li

a

tiiUties:

Series 2015 Bonds			
In May 2015, the District issued $21,465,000 of Special	Assessment Bonds, Series 2015.  The	
Series 2015 Bonds are due on November 1, 2045 with a fixed interest rate between 3.625%	
and 5.4%.   The Bonds were issued to finance the acquisition and construction of certain	
improvements for the benefit of the property within the District and pay certain bond issuance	
costs.   Interest is	paid semiannually on each  May  1 and  November 1,  commencing  on	
November	1,	2015.	Principal on the Series 2015 Bonds is due in annual installments through	
November	1,	2045.				
In a previous year, an entity affiliated with the	Developer acquired a previous Bond Series	
(2006 Bonds), in a variety of transactions.  As a condition to closing on the Series 2015 Bonds,	
the outstanding balance of the Series 2006 Bonds totaling $69.7 million was cancelled and	
liens against Series 2006 special assessments was released.	

21

			SHINGLE  CREEK COMMUNITY  DEVELOPMENT  DISTRICT		
				NOTES  TO  FINANCIAL  STATEMENTS  {CONTINUED)		
						Year  Ended  September 30,  2017		
Note 5 - Long-Term Liabilities (Continued):					
Series 2015 Bonds {Continued)							
The Bonds are subject to extraordinary mandatory redemption	prior to their selected maturity in		
the manner	determined by the Bond Registrar if certain events occurred as outlined in the		
Bond Indenture.											
The Bond Indentures require that the District maintain				
meet the debt service reserve			adequate funds in a reserve account to		
been met at	September		requirement as defined in the	Indenture.  This requirement has		
		30, 2017.						
									
The Bond Indentures have certain	restrictions and req. uir~s		
of proceeds to pay for the infrastructure				relating principally to the use		
	improvement?~d t~		
the  District		on	assessments  to  property  owners,   'The	procedures to be followed by		
						
assessments	in								Dis'tqht agreed  to  levy  special		
		annual amounts adequate to pro~ payl)1ent	of d~service and to meet the		
reserve	requirements.		The  District is	in  co	lance /wlth		the  requirements  of the  Bond		
Indenture.													
Total principal and interest	remaining o	tf'le~	Series 2Q'1~Bonds at September 30, 2017 is		
$40,961,588.	For the year ended Septe  ~er 30,. ~4~. ·principal and interest of $1,424,307		
was paid. Total special	assessme.nt-r.even  . 'pft,dged was $1,431,273.		

Long-term debt activity for the'yearena,ed

Se~e~ber

30,

2017 was as follows:

Governmental activiti6S{			
;			
Bonds Payable:			
Series 2015			
Bond discount			
Governmental activity long-			
term liabilities	21,186,320		

Increases		Decreases		Ending	Due Within		
				Balance		One Year		
$	-	$	(345,000)	$	21,120,000	$	360,000		
			9,610		(269,070)				
$	-	$	(335,390)	$	20,850,930	$	360,000		

22

SHINGLE CREEK

COMMUNITY

DEVELOPMENT DISTRICT

NOTES  TO	FINANCIAL  STATEMENTS	(CONTINUED)

Year Ended September 30,  2017

Note 5 - Long-Term Liabilities {Continued):

At September as follows:

30,

2017, the scheduled

debt service

requirements

on

the bonds payable were

Year Ending	
September 30,	
2018	
2019	
2020	
2021	
2022	
2023	-	2027	
2028	-	2032	
2033	-	2037	
2038	-	2041	
2042	-	2046	

$

Governmental Activities		
Principal		Interest	
360,000	$	1,066,529	
370,000		tos3,297	
385,000		1,039,612	
400,000		1\,025,386	
		1~00	.798	
		4,74~.,3	
		4,082,331	
		3,209,672	
		2,055,375	
		560,385	
		19,841,588	

The Developer o~	s a portionydf lana;within the District; therefore,		
general and debt	··'rvicefunds include the assessments	levied	assessment revenue in		
			on those lots owned by		
Developer.	In the S\,JTrent ~r, special	assessment					
			revenue	and  contributions from		
Developer was approxi	~~1,599,000,	89% of total				
							
				special assessment revenue.		
Concentrations:								

the

the

the

A significant portion Developer, the loss

of of

the District'sactivity is dependent upon the continued involvement of the which could have a material adverse effect on the District'soperations.

Note 7 - Management Company:				
The					
District has contracted with a management company to perform management consulting		
services, which include financial consulting and accounting services.  Certain employees of the		
management company also serve as officers	(Board appointed non-	of the		
District.		voting positions)			
	Under the  agreement,  the  District compensates the  management company for		
			
management, accounting, financial reporting and other administrative costs.			

23

SHINGLE CREEK COMMUNITY DEVELOPMENT DISTRICT

NOTES

TO

FINANCIAL  STATEMENTS  (CONTINUED)

Year Ended  September 30,  2017

Note 8 - Risk Management:

The District is exposed to	various risks of loss related to torts; theft	
destruction of assets; errors and		
	omissions; and natural disasters.  These	
commercial insurance from independent third parties.	The District has	
under this commercial coverage during the last three years.	

of, damage to, and risks are covered by not filed any claims

24

MCDIRMIT

Ill

DA

VIS

CERTIFIED PUBLIC ACCOUNTANTS AND ADVISORS

INDEPENDENT AUDITOR'SREPORT ON INTERNAL CONTROL OVER FINANCIAL		
REPORTING AND ON	AN AUDIT		
COMPLIANCE AND OTHER MATTERS BASED ON			
OF FINANCIAL			
STATEMENTS PERFORMED IN ACCORDANCE			
WITH GOVERNMENT AUDITING STANDARDS			

To

the Board of Supervisors

Shingle Creek Community Development District							
We have audited, in accordance with auditing standards gQ.rrerany,accepted in the United States		
of America		and	the standards applicable to financial atjdits conta~d in Government Auditing		
Standards	issued by the Comptroller General of tt!e IJnited. States,	~financial	statements of		
the	governmental activities and each major fund	of tfi.le	S  ·  1e Creek Community Development		
District (the	"District") as	of and for the year ended"'						
to	the financial statements, which collectiv~		~)tJmber 30, 2017, and the related notes		
		compris	the District'sfinancial statements and		
have issued our report thereon dated ~PJ:!l.....;.J,~								
In	planning and performing our""p1.1dit	of ,!_he	fini.n9ial	statements, we considered the District's		
internal control over financial	r9Qe.r:ti	~						
				: eontrol) to determine the audit procedures that		
are	appropriate	in the	ci!cumsta~s-/for the purpose of expressing opinions on the financial		
statements,  but  not for the	~r.po	·of expressing	an  opinion  on  the effectiveness of the		
District'sinternal	conilot	Accord· rgly,	t,e do not express an opinion	on the effectiveness of the		
District'sinternal co~	·													
A	deficiency in internal co  'rol-e;cfstswhen the design or operation	of a control does not allow		
management or	employees,	~n	the normal course of		performing their assigned functions, to		
												
prevent, or detect and correct	misstatements						
		on a timely basis.	A material weakness  is a		
deficiency, or a combination	of	deficiencies, in	internal control such that there is	a reasonable		
possibility that a material misstatement of the	entity'sfinancial statements will not	be prevented,		
or detected and corrected on	a timely basis.	A significant deficiency is a deficiency, or a		
combination of	deficiencies, in internal control that is less severe than a material weakness, yet		
important enough to merit attention by	those charged with governance.			
Our consideration  of internal  control  over financial  reporting  was  for  the  limited  purpose		
described in the first paragraph	of this section	and was not designed to identify all deficiencies		
in	internal control over financial  reporting that might	be a material weakness or significant		
deficiency.		Given these	limitations, during our audit, we did not identify any deficiencies in		
internal control over financial	reporting that we consider to be material weaknesses.  However,		
material weaknesses may exist that have not been identified.				

McmRMIT

DAv1s

&

CoMPANY,

LLC

934 NORTH MAGNOLIA AVENUE, SUITE

TELEPHONE: 407-843-5406 FAX: 407-649-9339 EMAIL:

I00 ORLANDO, FLORIDA INFO@MCDIRMITDAVIS

32803

.COM

Ma-tBERS:

PRIVATE COMPANIES PRACTICE SECTK>N AMERICAN

lNSlTIVfE

OFCERTlFIED PUBLIC ACCOUITTANTS FLORlDA

lNSTITLr

rn

OF

CERTIFIED

Pueuc

ACCOUNTANTS

25

Com pliance

and

Other Matters

As part of obtaining reasonable	assurance about whether the District'sfinancial statements are		
free from material			
					
		misstatement, we performed tests of its			
				compliance with certain provisions of		
laws, regulations, contracts, and grant agreements, noncompliance with which could have a		
direct and  material effect on  the	determination of financial  statement amounts.   However,		
providing an	opinion on compliance with those provisions was not an objective of our audit and,		
accordingly,	we do not express such an opinion.  The results of our tests disclosed no instances		
of	noncompliance or other matters that are required to be reported under Government Auditing		
Standards.						
The purpose of this report is solely to describe the scope of our testing of internal control and		
compliance and the results of that testing, and not to provide an opinion on the effectiveness of		
the entity's internal control  or	on  compliance.   This  report is an	integral  part of an  audit		
performed  in  accordance  with	Government  Auditing  Standards,  in	considering  the  entity's		
internal control and compliance.  Accordingly, this communicafipn is not suitable for any other		
purpose.						

fJ!,&llwrzd

lJtwi4

&

eetnpM.'f

LLl

Orlando, Florida

~prTI

~201~

26

lViCDIRMIT

Ill

DA

VIS

CERTIFIED PUBLIC ACCOUNTANTS AND ADVISORS

MANAGEMENT

COMMENTS

Board of Supervisors

Shingle Creek Community Development District

Report on the Financial Statements

We have audited the financial District, (the "District") as of ~md our report thereon dated lA.pril_

statements forth~ fiscal , 2018.

of the  Shingle Cfeek  Community  Development

year ended S~	ber 30, 2017, and have issued

Auditor'sResponsibility

We conducted our States of America; Standards, issued

audit in accordance with the standards applicable, by the Comptroller Gener

auditing ~rds generally accepted in the United !o:rfi.flancial"tilttd(ts contained in Government Auditing MJf~Unitecl)>93tes; and Chapter 10.550, Rules of

the Auditor General.					·		
Reporting Requirements						
We	have issued our	lndepend~Au~	J!~'rton Internal Control over Financial Reporting	
and	Compliance	and	Other M?1tt~ ~ased	on an	Audit of Financial Statements Performed	in	
Accordance	with	Govem.,mertt ,AucJTN¢!i, Standards	and  Independent Auditor's Report on	an	
examination	conduc!e-6, in	accor~ce ~th	A/CPA Professional Standards,  AT-C Section 315,	
regarding compliance /eguiremenls in	accordance with _Ch_?lpter J p.§50, Rules of the Auditor	
General.	Disclosures	in~ ose re11qrts,	which are dated ~PrU __c :?Q_·lJ:3:, should be considered	in	
conjunction with this mana	tne+~tter.					
Prior Audit Findings							

Section	10.554(1)(i.)1., Rules of the Auditor General, require that we determine whether	
corrective actions have been  taken to address findings and	recommendations made	
preceding annual financial audit report.  There were no such	findings in the preceding	

or not in the annual

financial

audit

report.

Official Title and Legal Authority		
Section	10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and	
legal authority for the primary government and	each component unit of the reporting entity be	
disclosed in this management letter, unless disclosed in the notes to the financial statements.	
This information has been disclosed in the notes	to the financial statements.	

M

c

DIRMI

T

D

Av1

s

&

C

oM

PANY,

LLC

934 NORTH MAGNOLIA AVENUE, SUITE

I 00

ORLANDO,

FLORIDA 32803

TELEPHONE:

407-843-5406 F AX: 407-649-9339 EMAIL: INFO@MCDIRMITDAVJS.COM

MEMBERS: PRIVATE COMPANIES

PRACTICE

SECTION AMERJCAN

lNSTllUJE

OF

CERTIE'IED

PUBLIC

ACCOUNTANTS

FLORIDA

lNSTJTlITE

OF

CERTIFIED PUBLIC ACCOUNTANTS

27

Financial Condition and Management												
Section  10.554(1)(i)5.a.	and  10.556(7),  Rules	of	the  Auditor  General,  require  us  to  apply		
appropriate	procedures and communicate the results	of our				
District has met one or more of the conditions	described	determination as to whether or not the		
		in	Section 218.503(1 ), Florida Statutes,		
and to identify of the specific condition(s) met.					
			In							
												connection with our audit, we determined that		
the District did not met any of the conditions described in Section 218.503(1 ), Florida Statutes.		
Pursuant to Sections 10.554(1)(i)5.c. and	10.556(8),	Rules	of the Auditor General, we applied		
financial condition assessment	procedures for the District.	It is	management'sresponsibility to		
monitor the	District's financial condition, and our financial condition assessment was based in part		
on representations made by	management and the review	of financial information provided by		
same.																			
Section  10.554(1)(i)2.,  Rules  of  the  Auditor  General,  requires\ that  we  communicate  any		
recommendations to improve financial	management.	In	con	·on with our audit, we did not		
have any such recommendations.						
													
Annual Financial Report																
Section  10.554(1 )(i)5.b.	and	10.556(7),  Rules	of.	the	A~or	General,  require  us  to  apply		
appropriate	procedures	and		communicate the			resu		~ ctf, our determination as to whether the		
annual financial report for the	District for the fiscal year lt{i'ciiedSeptember 30, 2017, filed with the		
Florida	Department of Financial Services pu	tl'8(i!to	Sec~,~18.32(1 )(a), Florida Statutes, is in		
agreement with the annual financial audit rep~rt\	forltl~ fiSGcll	year ended September 30, 2017.  In		
connection with our audit, we	determillQQ. that t			' rtwo rel)orts were in agreement.		
										
Additional Matters																	
Section 10.554(1 )(i)3., Rules	of ttia)(uditor General, requires us	to communicate noncompliance		
with provisions of contr*	"'-~r~nt.eements,or abuse, that have occurred, or are likely to		
have				effe	on ~financial							
occurred, that 11.av,e an									
warrants the attention  'f.those charged						statements that is less than material but which		
	with governance.	In	connection with our audit, we did not		
note any such findings.				1													

Purpose

of

this Letter

Our							
management letter is intended solely for the					
Committee,	members of	information and use of the Legislative Auditing		
		the Florida Senate and the Florida House	of	Representatives, the		
Florida Auditor General, Federal and other granting	agencies, the Board	of Supervisors, and		
applicable						
					by anyone other than		
management, and is not intended to be and should not be used			
these specified parties.						

f}/;!lwniz~

&

~~LLl

Orlando, ~J?rff _,

Florida
201 ij

28

1V1CDIRMIT

Ill

DA

VIS

CERTIFIED PUBLIC ACCOUNTANTS AND ADVISORS

INDEPENDENT AUDITOR'SREPORT ON COMPLIANCE WITH

THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES

Board of Supervisors												
Shingle Creek Community Development District						
We have examined Shingle Creek Community Development Dis)rict's {the "District") compliance		
with the												
2017.	requirements of Section 218.415, Florida Statutes, dd);i~,the year ended September 30,		
	Management is	responsible for the  District's com~nce wUh those requirements.  Our		
responsibility is to express	an opinion	on the District'sco~pliance ba~,on our examination .		
Our	examination was conducted  in	accordance	·ttt att~lion standards established  by the		
American  Institute of Certified  Public	Accountants ~	·jre standards applicable to attestation		
engagements contained	in	Government AudiJil:1.g	Stand~. issued by the Comptroller General of		
the United States and,	accordingly,		includep,	~ning,	"> a test basis,  evidence about the		
District's		those  requiremen	~	ana  ~)fu.gning  such  other procedures as we		
		compliance  with					
considered  necessary	in	the  circumstances.		'Hp	believe  that  our  examination  provides  a		
reasonable basis for our opinion. G'JJr	ellt	minaf	n does not provide a legal determination on the		
District'scompliance with specifiett,requir	91ents.	,					
In our opinion, the District comQlie ,,thrall	material respects, with the aforementioned requirements		
for the year ended Septeri)t:>e~>201•t								

Orlando, ~prlf _,

Florida
201~

McrnRMIT

DAVIS

&

CoMPANY,

LLC

934 NORTH MAGNOLIA A VENUE, SUITE l 00 ORLANDO, FLORIDA 32803

TELEPHONE: 407-843-5406

FAX:

407-649-9339 EMAIL: INFO@MCDIRMITDAVIS.COM

MEMBERS:

PRIVATE COMPANIES PRACTICE SECTION AMERJCAN

lNS1TJUTE

OF

CERTIFIED

PUBLIC ACCOUNTANTS

FLORIDA

)NSTITUTE

OF

CERTIFIED PUBLIC ACCOUNTANTS

29

SECTION VI

		RESOLUTION 2018-05				
A RESOLUTION OF THE BOARD OF SUPERVISORS OF		
THE  SHINGLE  CREEK  COMMUNITY  DEVELOPMENT		
DISTRICT  AUTHORIZING  THE  DISTRICT  MANAGER		
TO	ESTABLISH  AN  ACCOUNT  WITH  THE   STATE		
			
BOARD   OF   ADMINISTRATION;   APPOINTING   THE		
DISTRICT	MANAGER AS ITS LEGAL REPRESENTATIVE		
				
WITHRESPECT	TO	SAID	ACCOUNT(S)	AND		
PROVIDINGFOR	THEDURATION	OF	SAID		
AUTHORIZATION							
WHEREAS, the Shingle Creek Community Development District (the "District") is a local unit		
of special purpose government created and existing under Chapter 190, Florida Statutes; and		
WHEREAS, the District finds that from time to time has funds on hand in excess of current		
needs;and									
WHEREAS, it is  in the best interest District and  its landowners  that said  excess funds  be		
invested to return the highest yield consistent with proper safeguards and the Districts currently		
adopted policies regarding the deposit of public funds.					
NOW THEREFORE, BE IT RESOLVED BY THE BOARD		
OF	SUPERVISORS	OF	THE	SHINGLE	CREEK		
COMMUNITY DEVELOPMENT DISTRICT:				

1.	That the  District  Manager,	Governmental  Management  Services-Central  Florida,		
				
("GMS") and its designee, as legal		
the	representative(s) of the District is hereby authorized to		
	administrator(s) for funds held at the State Board of Administration.		

LLC, act as

2.	The District Manager and/or its designee shall have the authority to establish an account(s)	
on behalf of the District with the State Board of Administration, withdraw funds from or transmit	
funds  to  said  account( s)  at  the  State  Board  of  Administration,  establish  funds  transfer	
instructions, name designee(s), and initiate changes to this information via the Investment Pool	
Input Document.	
3.	That this	
	authorization shall be continuing in nature until revoked by District or until a new	
legal representative is appointed.	

THIS  RESOLUTION  INTRODUCED  AND  ADOPTED		
th	day of May, 2018.		
scheduled meeting this 7			

by	the	District  at  its  regularly

ATTEST:	SHINGLE CREEK COMMUNITY

DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairman/Vice Chairman	

SECTION VI I

				RESOLUTION 2018-06				
	A	RESOLUTION  OF  THE  BOARD  OF  SUPERVISORS  OF	THE		
					
	SHINGLECREEKCOMMUNITYDEVELOPMENTDISTRICT		
	APPROVING  A	PROPOSED  BUDGET  FOR  FISCAL	YEAR  2018/2019		
	AND  SETTING				
		A	PUBLIC  HEARING  THEREON	PURSUANT	TO		
	FLORIDA   LAW;	ADDRESSING	TRANSMITTAL,	POSTING	AND		
	PUBLICATION							
		REQUIREMENTS;	ADDRESSING	SEVERABILITY;		
	AND PROVIDING AN EFFECTIVE DATE.				
	WHEREAS, the District Manager has heretofore prepared and submitted to the Board of		
Supervisors ("Board") of the Shingle Creek Community Development District ("District") prior		
to June 15, 2018, a proposed budget	("Proposed Budget") for the fiscal year beginning October		
1,							
	2018 and ending September 30, 2019 ("Fiscal Year 2018/2019"); and			
	WHEREAS,  the  Board  has  considered the  Proposed  Budget  and  desires  to  set  the		
required public hearing thereon.						

NOW,	THEREFORE,	BE	IT

SUPERVISORS	OF	THE

DEVELOPMENT DISTRICT:

RESOLVED SHINGLE

BY THE CREEK

BOARD OF COMMUNITY

1.	PROPOSED BUDGET APPROVED.  The Proposed		
			
District Manager for Fiscal Year 2018/2019 attached hereto as Exhibit		
the basis for conducting a public hearing to adopt said Proposed Budget.		

Budget prepared by the A is hereby approved as

Budget

2. is

SETTING hereby declared

A PUBLIC HEARING. and set for the following

A public hearing on said approved Proposed date, hour and location:

DATE:	August 6, 2018

HOUR:

12:00 p.m.

LOCATION:	Oasis Club at ChampionsGate

1520 Oasis Club Blvd.
ChampionsGate, FL 33896

3.

TRANSMITTAL

OF

PROPOSED	BUDGET

TO

LOCAL

GENERAL

PURPOSE GOVERNMENT. The Proposed Budget to Osceola County

District Manager is hereby directed to submit a copy at least 60 days prior to the hearing set above.

of

the

4.	POSTING OF PROPOSED	
Florida  Statutes,  the  District's  Secretary  is	
Budget on the District's website at least two	
Section 2, and shall remain on the website for	

BUDGET.	In accordance with Section 189.016,	
further  directed to  post  the  approved  Proposed	
days before the budget hearing date as set forth in	
at least 45 days.	

5.	PUBLICATION OF NOTICE.		
			
in the manner prescribed in Florida law.		

Notice

of

this public hearing shall be published

6.	SEVERABILITY.	The  invalidity		
provisions				
	of this  Resolution shall not affect the		
portions of this Resolution, or any part thereof.		

or unenforceability of any validity or enforceability of

one	or  more

the remaining

7.

adoption.

EFFECTIVE  DATE.

This	Resolution	shall  take	effect	immediately	upon

PASSED AND ADOPTED TIDS

111
7

DAY

OF

MAY, 2018.

ATTEST:

SHINGLE CREEK COMMUNITY DEVELOPMENT DISTRICT

Secretary

By: _____________	_

Its:--------------

•	•	•	•	•	•	•	•	

Shingle Creek

C ommunity Development District

Proposed Budget

FY 2019

•

•

•

1

2-6

7

8-9

Table of Contents

General Fund

General Fund Narrative

Debt Service Fund Series 2015

Amortization Schedule Series 2015

Descr1pllon

RlllmlU

	Shingle Creek		
Community Development District	
	Fiscal Year 2019		
	General Fund		
Adopted	Actual	Projected	
Budget	Thru	Next6	
FY2018	3/31/18	Months	

Total	Proposed	
Thru	Budget	
9/30/18	FY2019	

Special Assessments

Carry Forward Surplus

Total Revenues

Expenditures

Administrative

Supervisors Fees

FICA Expense

Engineering

Attorney

Arbitrage

Dissemination

Annual Audit

Trustee Fees

Assessment Administration

Management Fees

Information Technology

Telephone

Postage

Travel Per Diem

Printing & Binding

Insurance

Legal Advertising

Other Current Charges

Office Supplies

Property Appraiser

Dues, Licenses & Subscriptions

Administrative Expenses

Q2~rnti2a &Malnt12aitt:z"L'

Field Services

Utilities

Landscape Maintenance

Landscape Contingency

Property Insurance

London Creek Ranch Maintenance

Lake Maintenance

Lake Contingency

Drainage R&M

Irrigation Repairs

Lighting Maintenance

Repairs & Maintenance

Contingency

Operation & Maintenance Expenses

Total Expenditures

Excess Revenues/(Expenditures)

$359,955	$292,589	
$0	$0	
$3591955	$292,589	

$0	$0	
$0	$0	
$25,000	$5,000	
$40,000	$8,097	
$650	$0	
$3,500	$1,750	
$6,400	$0	
$3,500	$0	
$5,000	$5,000	
$32,500	$16,250	
$600	$300	
$200	$0	
$500	$25	
$250	$0	
$500	$32	
$10,000	$8,930	
$2,500	$1,013	
$300	$50	
$200	$1	
$500	$421	
$175	$175	
$132,275	$47,043	
$7,500	$3,750	
$12,000	$4,051	
$125,000	$54,941	
$7,500	$13,797	
$6,300	$5,723	
$35,000	$0	
$10,080	$5,040	
$5,000	$0	
$0	$0	
$2,000	$640	
$0	$0	
$0	$0	
$17,300	$1,891	
$227,6B0	$89,833	
$359,955	$136,876	
$0	$155,713	

IPrOe!!!l Tie•

Single Family
Townhome

Condo/MF

Unelatted
!Total

$67,366	$359,955	
$0	$0	
$67,366	$359,955	

$0	$0	
$0	$0	
$5,000	$10,000	
$11,903	$20,000	
$650	$650	
$1,750	$3,500	
$6,400	$6,400	
$3,500	$3,500	
$0	$5,000	
$16,250	$32,500	
$300	$600	
$100	$100	
$125	$150	
$125	$125	
$118	$150	
$0	$8,930	
$1,187	$2,200	
$50	$100	
$49	$50	
$0	$421	
$0	$175	
$47,507	$94,550	
$3,750	$7,500	
$4,449	$8,500	
$54,234	$109,175	
$4,203	$18,000	
$0	$5,723	
$35,000	$35,000	
$5,040	$10,080	
$0	$0	
$2,500	$2,500	
$860	$1,500	
$1,100	$1,100	
$2,500	$2,500	
$4,109	$6,000	
$117,745	$207,578	
$165,252	$302,128	
($97,886)	$57,827	
	Net Assessment	
	Collection Cost (6%)	
	Gross Assessment	
Platted Units	Gross Par Unit	
370	$354	
290	$221	
0	$1&1	
0	NIA	
660		

$359,955

$17,118

$311,0731

				$0			
				$0			
$25,000			
$40,000			
		$650			
$3,500			
$6,500			
$3,500			
$5,000			
$33,475			
		$600			
		$200			
		$500			
		$250			
		$500			
$10,000			
$2,500			
		$300			
		$200			
		$500			
		$175			
s133	3so	I		
		1				
$7,500			
$12,000			
$141,343			
$7,500			
$6,300			
$30,000			
$12,080			
				$0			
$5,000			
$2,000			
$5,000			
$5,000			
$10,000			
sz43,123 1		
$377,073	J		
				so	I		
$359,955			
$22	,976			
S3	62		931			
Gross Total	I		
$130,921			
$64,134			
$1	67	so			
		877	I		
s3s2 .931			

Shingle Creek

Community Development District

GENERAL

FUND

BUDGET

REVENUES:

Special

Assessments

The  District will  levy	a non-ad  valorem  assessment on  all	the assessable	
property within the District in order to pay for the operating expenditures during	
the fiscal year.			

EXPENDITURES:

Administrative:		
Enqineering		
The		
District'sengineer, Franklin, Hart and Reid, will be providing general engineering	
services to the District, e.g. attendance and preparation for	monthly board meetings,	
review of invoices and requisitions, preparation and review	of contract specifications	
and  bid documents, and various projects assigned as directed by the Board of	
Supervisors and the District Manager.		
Attornev		
The		
District'slegal counsel, Latham, Shuker, Eden & Beaudine, LLP, will be providing	
general legal services to the District, e.g. attendance and preparation for monthly	
meetings, preparation and review of		
agreements and resolutions, and other research	
assigned as directred by the Board of Supervisors and the District Manager.	
Arbitrage		

The District will contract with an independent certified public	
calculate  the  District's Arbitrage  Rebate  Liability  on	the	
Assessment Revenue Bonds. The District has contracted	with	

accountant to annually Series  2015  Special LLS Tax Solutions, Inc.

for

this service.

Dissemination

The District is required by Rule 15c2-12(b)(5) which bond issues.

the Security and Exchange Commission to relates to additional reporting requirements

comply with

for unrated

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. The District has contracted with McDirmit, Davis & Company for this service.

2

Shingle Creek

Community Development District

GENERAL

FUND

BUDGET

Trustee

Fees

The District will Revenue Bonds

pay that

annual trustee fees for the Series 2015 Special Assessment are deposited with a Trustee at Regions Bank.

Assessment

Administration

The District has contracted with Governmental Management Services-CF, LLC to levy	
and administer the  collection	of non-ad valorem  assessment on  all  assessable	
property within the District.		

Mana

gement

Fees

The District has contracted with Governmental Management Services-Central Florida, LLC to provide Management, Accounting and Recording Secretary Services for the District. The services include, but not limited to, recording and transcription of board meetings, budget preparation, all financial reporting, annual audit, etc.

Information

Technology

Represents costs related to District'saccounting and information systems, District's	
website creation and maintenance, electronic compliance with Florida Statutes	and	
other electronic data requirements.		
Teleohone		
Telephone and fax machine.		
Postage		
The District incurs charges for mailing of agenda packages, overnight deliveries,	
checks for vendors and other required correspondence.		

Travel

Per

Diem

The Board

conducting

of of

Supervisors can be reimbursed for travel District business.

expenditures related

to

the

Printing

&

Binding

Printing and Binding agenda packages for board meetings, checks, stationary, envelopes etc.

printing

of

computerized

Insurance

The District's general  liability and  public officials  liability  insurance coverage is

provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance

coverage to governmental agencies.

3

Shingle Creek

Community Development District

GENERAL

FUND

BUDGET

Legal

Advertising

The District is required to advertise various notices for monthly public hearings, etc in a newspaper of general circulation.

Board

meetings,

Other

Current Charges

Represents any miscellaneous expenses fees, deposit slips, stop payments, etc.

incurred

during

the

fiscal

year

such

as

bank

Office

Suooties

The District

fiscal year.

incurs

charges

for office

supplies

that

need

to

be

purchased

during the

Property Appraiser

Represents a fee charged by Osceola assessment administration services.

County

Property

Appraiser's

office

for

Dues,

Licenses

&

Subscriptions

The District

Opportunity

is required to pay for $175. This is

an annual fee to the Florida the only expense under this

Department category for

of Economic

the District.

Field

Services

Provide

onsite

field

management

of

contracts

for

the

District

such

as

landscape

and

lake maintenance. Services to indude onsite
monitoring of utility accounts, attend Board property owner phone calls and emails.

inspections, meetings with contractors, meetings and receive and respond to

Represents cost of electric and water services for fountains, etc. District currently has one account

items such as monument lighting, with Kissimmee Utility Authority.

Descri ption

3100 Storey Lake Blvd. Block Even

MonumenUFountain

Contingency

Total

Monthly	Annual	
$750	$9,000	
	$3,000	
	$12,000	

4

Shingle Creek

Community Development District

GENERAL

FUND

BUDGET

Landscaoe

Maintenance

The District will maintain the landscaping within the common areas of after installation of landscape material has been completed. The contracted with Down to Earth Lawncare II, Inc. for this service.

the District

District  has

Descri ption

Phase I

Phase II - Storey Lake Boulevard

Area I - Bahia Mowing

Phase II Part 2 - Additional Bahia

Storey Lake Additional Areas

Total

Monthly	Annual	
$6,116	$73,392	
$1,423	$17,076	
$350	$4,200	
$1,150	$13,800	
$2,740	$32,875	
	$141,343	

Landscape

Contingency

Represents estimated costs for any additional landscape expenses not covered under the monthly landscape maintenance contract.

Property

Insurance

Represents estimated costs for the annual coverage of	property insurance. Coverage	
will be  provided by Florida Insurance Alliance (FIA).	FIA specializes in providing	
insurance coverage to governmental agencies.		

London

Creek

Ranch

Maintenance

The District

Ranch  area

inspections,

The District

service.

will schedule maintenance of wetlands located in the London Creek of the District. Services will include vegetation maintenance, site site maintenance, trail maintenance and permit status and compliance. has contracted with Austin Environmental Consultants, Inc. for this

Descri ption

Vegetation Maintenance - 3 x per year

Site Inspections & Maintenance

Total

Per Visit

$8,000

As Needed

Annual

$24,000

$6,000

$30,000

5

Shingle Creek

Community Development District

GENERAL

FUND

BUDGET

Lake

Maintenance

Represents cost for maintenance indude shoreline grass and brush additional treatments as required

to three ponds located within the District. Services control, floating and submersed vegetation control, and a monthly report of all waterways treated. The

District

has

contracted

with

Aquatic

Weed

Control,

Inc.

for

these

services.

Description

Lake Maintenance

Contingency

Total

Monthlv	Annual	
$840	$10,080	
	$2,000	
	$12,080	

Drainage

R&M

Represents

structures,

estimate repair and maintenance costs to the drainage structures, outfall storm piping and bank erosions maintained by the District.

Irrigation

Repairs

Represents

estimated

costs

for

any

repairs

to

the

irrigation

system.

Lighting

Maintenance

Represents estimated by the District.

repair

and

maintenance

cost

to

all

lighting fixtures

maintained

Repairs

&

Maintenance

Represents general repairs other budgeted line item.

and

maintenance

costs

that

are

not

budgeted

under

any

Continqencv

Represents

budget.

any

additional

field

expense

that

may

not

have

been

provided

for

in

the

6

Revenues

	Shingle Creek	
Community Development District	
	Fiscal Year 2019		
	Debt Service Fund		
Adopted	Actual	Projected	
Budget	Thru	Next6	
FY2018	3/31/18	Months	

Total	Proposed	
Thru	Budget	
9/30/18	FY2019	

Special Assessments

Interest Income

Carry Forward Surplus

Total Revenues

Expenses

$1,433,379	$1,247,137	
$0	$6,954	
$905,843	$896	,980	
$2,339,222	$2,151,071	

$186,242	$1,433,379	$1 ,433,379		
$1,046	$8,000	$0		
$0	$896,980	$911 ,831		
$187,288	$2,338,359	s2,34s,21 o 1		

Interest - 11/1

Principal - 11/1

Interest- 5/1

Total Expenditures

Excess Revenues/(Expenditures)

$536 ,527	$536,527	
$360,000	$360,000	
$530,002	$0	
$1,426,529	$896,527	
$912,693	$1,254,544	

$0		
$0		
$530,002		
$530,002		
($342,714	!	

$536,527

$360,000

$530,002

$1,426,529

$911,831

$530,002		
$370,000		
$523,296		
$1,423,298	1	
s921 ,912	I	

Principal -11/1/2019

Interest -11/1/2019

Total

Net Assessment

Collection Cost (6%)

Gross Assessment

$385,000

$523,296

$908,296

$1 ,433,379

$91,492

$1,524 ,871

IProperty Type

Single Family

Townhome

Condo/MF

Unelatted

l r otal

Platted Units	Gross	Per	Unit	Gross Total	
370	$1 ,691		$625,689	
290	$1	,057		$306,504	
0	$850		$0	
0	N/A		$592,679	
660				$1,524,871 1	

7

Date

Shinle Creek Community Development District			
Serles 2015, Special Assessment Bonds			
	(Term Bonds Combined)				
	Amortization Schedule				
Balance	Principal	Interest	Annual		

5/1/18	
11/1/18	
5/1	/19	
11/1/19	
5/1/20	
11/1/20	
5/1/21	
11/1/21	
5/1/22	
11/1/22	
5/1/23	
11/1/23	
5/1/24	
11/1/24	
5/1/25	
11/1/25	
5/1/26	
11/1/26	
5/1/27	
11/1/27	
5/1/28	
11/1/28	
5/1/29	
11/1/29	
5/1/30	
11/1/30	
5/1/31	
11/1/31	
5/1/32	
11/1/32	
5/1/33	
11/1/33	
5/1/34	
11/1/34	
5/1/35	
11/1/35	
5/1/36	
11/1/36	

$ 20 760 000	
$20,760,000	
$20,390,000	
$20,390,000	
$20,005,000	
$20,005,000	
$ 19,605,000	
$ 19,605,000	
$19	,190,000	
$19,190,000	
$ 18,760,000	
$18,760,000	
$18,310,000	
$18,310,000	
$ 17,840,000	
$ 17,840,000	
$17,350,000	
$17,350,000	
$16,835,000	
$16,835,000	
$16,295	,000	
$ 16,295,000	
$ 15,725,000	
$15,725,000	
$ 15,125,000	
$15,125,000	
$14,495,000	
$14,495,000	
$ 13,835,000	
$ 13,835,000	
$13,140,000	
$13,140,000	
$12,410,000	
$12,410,000	
$ 11,645,000	
$ 11,645,000	
$10,840,000	
$10,840,000	

$		$	
$	370,000	$	
$		$	
$	385,000	$	
$		$	
$	400,000	$	
$		$	
$	415,000	$	
$		$	
$	430,000	$	
$		$	
$	450,000	$	
$		$	
$	470,000	$	
$		$	
$	490,000	$	
$		$	
$	515,000	$	
$		$	
$	540,000	$	
$		$	
$	570,000	$	
$		$	
$	600,000	$	
$		$	
$	630,000	$	
$		$	
$	660,000	$	
$		$	
$	695,000	$	
$		$	
$	730,000	$	
$		$	
$	765,000	$	
$		$	
$	805,000	$	
$		$	
$	850,000	$	

530	,002

	530,002

523	296

	523,296

	516,318

	516,318

	509,068

	509,068

	499,730

	499,730

	490,055

	490,055

	479,930

	479,930

	469,355

	469,355

	458,330

	458,330

	445,133

	445,133

	431,296

	431,296

	416,689

	416,689

	401,314

	401,314

	385,171

	385,171

	368,258

	368,258

	350,449

	350,449

	331,743

	331,743

	312,139

	312,139

	291,511

	291,511

$		
$	1,430,004	
$		
$	1,431,591	
$		
$	1,432,635	
$		
$	1,433,135	
$		
$	1,429,460	
$		
$	1,430,110	
$		
$	1,429,860	
$		
$	1,428,710	
$		
$	1,431,660	
$		
$	1,430,266	
$		
$	1,432,591	
$		
$	1,433,379	
$		
$	1,432,629	
$		
$	1,430,341	
$		
$	1,431,516	
$		
$	1,430,898	
$		
$	1,428,485	
$		
$	1,429,279	
$		
$	1,433,023	

8

Shingle Creek Community Development District

Series 2015, Special Assessment Bonds

(Term Bonds Combined)

Amortization Schedule

Date	
5/1/37	
11/1/37	
5/1/38	
11	/1/38	
5/1/39	
11/1/39	
5/1/40	
11/1/40	
5/1/41	
11/1/41	
5/1/42	
11/1/42	
5/1/43	
11/1/43	
5/1/44	
11	/1	/44	
5/1/45	
11/1/45	

	Balance	
$	9,990,000	
$	9,990,000	
$	9,100,000	
$	9,100,000	
$	8,160,000	
$	8 ,160,000	
$	7,170,000	
$	7 ,170,000	
$	6,125,000	
$	6,125	,000	
$	5,025	,000	
$	5,025,000	
$	3,865,000	
$	3,865	,000	
$	2,645	,000	
$	2,645,000	
$	1,355,000	
$	1,355,000	

	Princl pal		Interest		Annual	
$		$	269,730	$		
$	890,000	$	269,730	$	1,429,460	
$		$	245,700	$		
$	940,000	$	245,700	$	1,431,400	
$		$	220,320	$		
$	990 ,000	$	220,320	$	1,430,640	
$		$	193,590	$		
$	1,045,000	$	193,590	$	1,432,180	
$		$	165,375	$		
$	1,100,000	$	165,375	$	1,430,750	
$		$	135,675	$		
$	1,160,000	$	135,675	$	1,431,350	
$		$	104,355	$		
$	1,220,000	$	104,355	$	1,428,710	
$		$	71,415	$		
$	1,290,000	$	71,415	$	1,432,830	
$		$	36,585	$		
$	1,355,000	$	36,585	$	1,428,170	

Totals

$20,760,000	$18	,775	,059	$	4o.o65	,os1	1	

9

SECTION

VI11

		FORMS OF REQUISITIONS		
	SHINGLE CREEK COMMUNITY DEVELOPMENT DISTRICT		
		SPECIAL ASSESSMENT BONDS, SERIES 2015		
		(Acquisition and Construction)		
The undersigned, a				
		Responsible Officer of the Shingle Creek Community Development		
District (the "District") hereby submits the following requisition for disbursement under and		
pursuant to	the terms of the Master Trust Indenture between the District and Regions Bank, as		
trustee  (the	''Trustee"),  dated  as  of  May  1,  2015,	as	supplemented  by  that  certain  First		
					
Supplemental  Trust	Indenture  dated  as  of May  1,				
		2015  (collectively,  the  "Indenture")  (all		
capitalized terms used herein shall have the meaning ascribed to such term in the Indenture):		

(A)

(B)

(C)

Requisition Number:	18

Identify Acquisition Agreement, if applicable;

Name of Payee pursuant to Acquisition Agreement:

KPM Franklin

(D)

(E)

Amount Payable: $2,992.50

Purpose for which paid or incurred (refer also to specific contract if amount is due and payable pursuant to a contract involving progress payments): Invoice#120746
-	March 2018 Engineering services for District expansion property exhibits,
maps and CIP.

(F)

Fund or Account and			
subaccount, if any, from which disbursement to be made:		
Series 2015 Acquisition and	Construction Account of the Acquisition		
and Construction Fund.			

The undersigned hereby certifies that:

1.

2.

3.

4.

obligations in the stated amount set forth above have been incurred by the District,		
each	disbursement  set forth above is	a proper charge against the Series	2015		
					
Acquisition and Construction Account;				
each disbursement set forth above was incurred in connection with the acquisition		
and/or construction of the Project; and				
each disbursement	represents a Cost of the Project which has not previously been		
paid.				

The	undersigned hereby further certifies that there has not been filed with or served upon the	
District notice of any lien, right to lien, or	attachment upon, or claim affecting the right to receive	
payment of, any of the moneys payable to the Payee set forth above, which has not been released	
or will not be released simultaneously with the payment hereof.	
The  undersigned hereby  further  certifies that  such	requisition  contains  no  item representing	
payment on account of any retained percentage which the District is at the date of such certificate	
entitled to retain.			
Originals of the invoice(s) from the vendor of the property acquired or the services rendered with	
respect to which disbursement is hereby requested are on file with the District.	
		SHINGLE CREEK COMMUNITY	
		DEVELOPMENT DISTRICT	
		By:	
			Responsible Officer	
		Date:	

NON-COST

CONSULTING ENGINEER'S APPROVAL FOR

OF ISSUANCE OR NON-OPERATING COSTS REQUESTS ONLY

The undersigned Consulting Engineer hereby certifies

Assessment Area One Project and is consistent with:

report of the Consulting Engineer, as such report shall

that this disbursement is for the Cost of (i) the Acquisition Agreement; and (ii) have been amended or modified

the

the

Consulting Engineer

KPMFranklin

ENGINEERS• PLANNERS • SURVEYORS

INVOICE
Tax ID #59-3288732

1368 E. Vme Street
Kissimmee. Fl 34744
(407) 846•1216

	Shingle Creek Community Development District		
	1412 S. Narcoossee Rd			
	SL Cloud, FL 34771			
	Teresa Viscarra			
For	2018		
	Professional Services through March 29,			
lnvQlce Summary			
Description			
01	Meetings			
02	Reports			
03	Mlscellaneous			
04	Reimbursements ·			
05	Expansion Property			

Invoice number	120746		
Date		04/01/2018		
Project	0191.000	Shingle Creek COD 2017•		
	17-			
	2018 Construction		

	Current	
	BIiied	
	0.00	
	0.00	
	0.00	
	0.00	
	2,992.50	
Total	2,992,50	

Shingle

Creek

Ccimmunily

Development

OislrlcJ

Invoice

number

120746

Invoice date

04/01/201&

Page

1014

KPMFranklin

ENGINEERS• PLANNERS• SURVEYORS

Shingle Creek Communlfy Developmenl District

Project	1T-4119UIO0 Shingle Cr98k CDD 2011-2018 Construction

05 Expansion Property

Professional Fees

David A. Reid

Expansion property exhibits and CIP

expansion property exhibits and CIP

CDD Expansion property exhibits and cast estimate

report prep

revise cons/. casts; repott prep

revise Expansion CIP estimate

expansion exhibits, legal

JamesM. Easterly

Exhibit maps

exhibit maps

exhibit edits

INVOICE

Tax 10 1159-3288732

Date

03/06/2018

03/07/2018

03/08/2018

03/20/2018

03/21/2018

03/22/2018

03/29/2018

03/02/2018

03/07/2018

03/28/2018

Phase subtotal

136B	E. Vme- Street	
C1Ssimmee, Fl 34744	
(407) 84&-1216	
lnvol<:e number	120746	
Date	04/01/2018	

Hours	Rate	Billed		
		Amount		
1.50	175.00	262.50		
2.00	175.00	350.00		
				
3.00	175.00	525.00		
				
1.00	175.00	175.00		
1.00	175.00	175.00		
2.00	175.00	350.00		
1.00	175.00	175.00		
7.00	70.00	490.00		
6.00	70.00	420.00		
1.00	70.00	70.00		
		2,992.50		
	Invoice total I	z.~92~al		

Opvld A.Reid

Vice PresidentGeneralEngineering

Shingle CreekCommunityDevelopmentDistrict

Invoice

number

120746

lnl/Olce dale 04/01/201B

Page 2 of4

			FORMS OF REQUISITIONS		
	SHINGLE CREEK COMMUNITY DEVELOPMENT DISTRICT		
		SPECIAL ASSESSMENT BONDS, SERIES 2015		
			(Acquisition and Construction)		
The undersigned, a						
		Responsible Officer of the Shingle Creek Community Development		
District (the "District") hereby submits the following  requisition for disbursement under and		
pursuant to	the terms of the Master Trust				
trustee  (the	''Trustee"),  dated	as  of	Indenture between the District and Regions Bank, as		
			May  1,  2015,	as	supplemented  by  that  certain  First		
							
Supplemental  Trust	Indenture	dated	as  of May  1,				
				2015  (collectively,  the  "Indenture")  (all		
capitalized terms used herein shall have the meaning ascribed to such term in the Indenture):		

(A)

Requisition Number:

19

(B)

(C)

Identify Acquisition Agreement, if applicable;

Name of Payee pursuant to Acquisition Agreement:

KPM Franklin

(D)

(E)

Amount Payable: $3,062.50

Purpose for which paid or incurred (refer also to specific contract if amount is due and payable pursuant to a contract involving progress payments): Invoice#l20687

-	February  2018  Engineering  services  for  review/update  of  Lennar
reimbursement #5 summary.

(F)

Fund or Account and			
subaccount, if any, from which disbursement to be made:		
Series 2015 Acquisition and	Construction Account of the Acquisition		
and Construction Fund.			

The

undersigned hereby certifies that:

1.

2.

3.

4.

obligations in the stated amount set forth above have been incurred by the District,		
each disbursement  set forth above · is a proper charge against the Series 2015		
Acquisition and Construction Account;		
each disbursement set forth above was incurred in connection with the acquisition		
and/or construction of the Project; and		
each disbursement	represents a Cost of the Project which has not previously been		
paid.			

The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the moneys payable to the Payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.

The undersigned hereby further certifies that such requisition contains no item representing payment on account of any retained percentage which the District is at the date of such certificate entitled to retain.

Originals of the invoice(s) from the vendor of the property acquired or the services rendered with respect to which disbursement is hereby requested are on file with the District.

SHINGLE CREEK COMMUNITY

DEVELOPMENT DISTRICT

By:

Responsible Officer

Date:

CONSULTING ENGINEER'S APPROVAL FOR NON-COST OF ISSUANCE OR NON-OPERATING COSTS REQUESTS ONLY

The undersigned Consulting Engineer hereby certifies

Assessment Area One Project and is consistent with:

report of the Consulting Engineer, as such report shall

that this disbursement is for the Cost of (i) the Acquisition Agreement; and (ii) have been amended or modified.

the

the

Consulting Engineer

KPMFranklin

ENGINEERS • PLAl>IN£RS • SURVEYORS

INVOICE
Tax ID #59-3288732

1368 E. Vine Street

Kissimmee, FL 34744

(407) 846-1216

Shingle Creek Community Development District

1412 S. Narcoossee Rd

St. Cloud, FL 34771

Teresa Viscarra

For Professional Services through February 22, 2018

Invoice Summary

Description

01 Meetings

02 Reports

03 Miscellaneous

04 Reimbursements

Invoice number	120687

Date	03/01/2018

Project	17-0191.000  Shingle Creek CDD 2017-

2018 Construction

	Current	
	Billed	
	0.00	
	0.00	
	0.00	
	3,062.50	
Total	3,062.50	

Sh

ingle

Creek Community Development District

Invoice number 120687

Invoice dale 03/01/2018

Page 1 of 4

PM

Franklin

INVOICE

Tax ID #59-3288732

1368 E. Vine Street
Kissimmee, FL 34744
(407) 846-1216

Shingle Creek Community Development District	Invoice number		
					
Project	17-0191.000  Shingle Creek CDD 2017-2018 Construction	Date			
						
04 Reimbursements				
Professional Fees				
		Date	Hours	Rate		
David A. Reid					
		01/26/2018	1.50	175.00		
emails to	Mark M, update summary spreadsheet				
		01/31/2018	1.50	175.00		
Add new	reimbursmeents from Lennar  to Summary				
		02/01/2018	1.50	175.00		
copy Lennar's submittals and add new reimbursmeents from Lennar  to Summary				
		02/02/2018	2 .00	175.00		
reimbursement #5; review new Lennar submittals				
		02/16/2018	2.00	175.00		
Reimbursement #5; tc wl Mark M				
		02/19/2018	1.00	175.00		
update reimbursement #5				
		02/20/2018	3.00	175.00		
update reimbursement #5 - add County fees and update spreadsheets				
		02/21/2018	5.00	175.00		
reimbursement #5 email out;				
conf call wl Mark M, Jan Carpenter, Steve Sanford to discuss reimbursements, mobility fees; email follow up		
		Phase subtotal				

120687 03/01/2018

Billed

Amount

262.50

262.50

262.50

350.00

350.00

175.00

525.00

875.00

3,062.50

Invoice total

l...__s_oe2so....]

Approved by:

David A. Reid

Vice President General Engineering

Shingle Creek Community Development District	Invoice number 120687	Invoice date 03/01/2018	
		Page 2 of 4	

p	Franklin				INVOICE		
							
					TaxlD#59-3288732		
Shingle Creek Community Development District								
Project  17-0191.000  Shingle Creek COD 2017•2018 Construction							
Invoice Supporting Detail								
17-0191.000 Shingle Creek CDD 2017-2018 Construction							
01 Meetings									
		BIiiing Cutoff: 02/22/2018				
	Date	j	Units	I	Rate	I	Amount		
									
WIP Status:								
	Subtotal						0.00		
	total						0.00		

1368	E. Vine Street	
Kissimmee, fl  34744	
(407) 846-1216	
Invoice number	120687	
Date	03/01/2018	

Phase Status: Active

02 Reports

	BIiiing Cutoff: 02/22/2018			
Date	I	Units	I	Rate	j		
							
WIP Status:							
Subtotal							
total							

Amount

0.00

0.00

Phase Status: Active

03 Miscellaneous

	BIiiing Cutoff: 02/22/2018				
Date	I	Units	I	Rate	j	Amount		
								
WIP Status:								
Subtotal						0.00		
total						0.00		

Phase Status: Active

04 Reimbursements								
			BIiiing Cutoff: 02/22/2018		
		Date	I	Units	I	Rate	j	
WIP Status: Billable								
Senior Engineer II (PE)								
David A. Reid								
Projectnme		01/26/2018		1.50		175.00		
emails to Mark M, update summary spreadsheet						
Project Time		01/31/2018		1.50		175.00		
Add new reimbursmeents from	Lennar	to Summary					
Project Time		02/01/2018		1.50		175.00		
copy Lennar's submittals and add new	reimbursmeents from Lennar to Summary	
Project Time		02/02/2018		2.00		175.00		
reimbursement #5; review new	Lennar	submittals						
Project Time		02/16/2018		2.00		175.00		
Reimbursement #5; tc wl Mark M							
Project Time		02/19/2018		1.00		175.00		
update reimbursement #5								
Project Time		02/20/2018		3.00		175.00		
Shingle Creek Community Development District			Invoice number 120687		

Amount

262.50

262.50

262.50

350.00

350.00

175.00

525.00

Phase Status: Active

Invoice date 03/01/2018 Page 3 of 4

	KPMFranklin				INVOICE		
	ENGINEERS·PLANNERS•	SURVEYORS				Tax ID 11'59-3288732		
Shingle Creek Community Development District								
Pro)ecl	17-0191 .000  Shingle Creek COD 2017-2018 ConstrucUon							
Invoice Su pporting Detail									
17-0191.000 Shingle Creek CDD 2017-2018 Construction							
04 Reimbursements									
			BIiiing Cutoff: 02/22/2018				
		Date	I	Units	I	Rate	I	Amount		
										
	WIP Status: Billable									
Senior Engineer II (PE)									
David A. Reid									
	update	County fees and update spreadsheets				
	reimbursement #5 - add					
Project Time	02/21/2018		5.00		175.00		875.00		
	reimbursement #5 email out;									
	cont call wl Mark M, Jan Carpenter, Steve Sanford to discuss reimbursements, mobility fees;		
	email follow up									
		Subtotal		17.50				3,062.50		
		Labor total		17.50				3,062.50		

1368	E. Vme Street	
Kissimmee, FL 34744	
(407)	846-1216	
Invoice number	120687	
Date	03/01/2018	

Phase Status: Active

05 Travel	/Expenses								
			BIiiing Cutoff: 02/22/2018	I			
		Date	I	Units	I	Rate		Amount		
										
		WIP Status:								
		Subtotal						0.00		
		total						0.00		
Invoice Summary	~i----C-o-nt-ract""I						g. ,l -----•1.,I		
										
		_____B_ille-d"Tl____Yo"TI___R_em_alnln-			
					0					
Labor		12,425.00			-12,425.00		
							
Expense										
Consultant										
Total		12,425.00			-12,425.00		

Phase Status: Active

Shingle Creek Community Development District

Invoice number

120687

Invoice

date

03/01/2018

Page 4 of 4

SECTION IX

SECTION

C

SECTION

1

Bank

General Fund

Shingle Creek

Community Development District

Summary of Checks

February 26, 2018 to April 30, 2018

Date	Check#		Amount			
						
2/27/18	198	$	9,039.00			
3/6/18	199-201	$	5,691.94			
3/20/18	202-204	$	36,539.27			
3/27/18	205	$	420.59			
4/6/18	206	$	3,716.74			
4/10/18	207-208	$	2,485.00			
4/17/18	209-210	$	12,093.59			
4/20/18	211	$	45,650.26			
4/24/18	212-213	$	11,419.44			
		$	127,055.83			
		$	121,oss.s3	I		

AP300R				YEAR-TO-DATE	ACCOUNTS  PAYABLE  PREPAID/COMPUTER	CHECK	REGISTER		
*** CHECK	DATES	02/26/2018	-						
				04/30/2018  ***	GENERAL	FUND	FUND				
					BANK  A	GENERAL					

RUN	4/30/18	PAGE	1	

CHECK	VEND#	•.•.. INVOICE •••....•EXPENSED	TO...		VENDOR	NAME	STATUS		
DATE		DATE	INVOICE	YRMO	DPT	ACCT#	SUB	SUBCLASS				

AMOUNT

. ... CHECK •••••
AMOUNT	#

2/27/18	00023	

2/10/18 2/10/18 2/10/18 2/10/18

58225
MTHLY
58225
MTHLY
58225
MTHLY
58225
MTHLY

201802	320-53800-46200
MNT-FEB18-PHASE	I
201802	320-53800-46200
MNT-FEB18-PHASE	II
201802	320-53800-46200
MNT-FEB18-AREA	1
201802	320-53800-46200
MNT-FEB18-ADD.PH2P2

*

*

*

*

6,116.00

1,423.00

350.00

1,150.00

3/06/18	00007	

				- -	-	-	-	DOWN		
3/01/18----	22957--- -	-201803--	- -					-		
			320-53800-47000		
	WATERWAY	MAINT	3	PONDS						

TO

EARTH

LAWNCARE

II,

INC

*

840.00

9,039.00	000198	

3/06/18	00023	

- - -	-	- - -	-	- - -	-	-----	-	AQUATIC	WEED	CONTROL,	INC.		
								-					
2/26/18		58484		201811		320-53800-46400					
		NOZZLE/SPRAY/FITTING/PIPE							

*

817.52

840.00	000199	

-3/06/18----	- -	-		
	00011			

-	- - -	----	-----	DOWN		
				-------		
	3/01/18	53	201803	310-51300-34000		
	3/01/18	MANAGEMENT  FEES	MAR18		
		53	201803	310-51300-35200		
	3/01/18	INFO  TECHNOLOGY	MAR18		
		53	201803	310-51300-31300		
	3/01/18	DISSEMINATION  FEE  MAR18		
		53	201803	310-51300-51000		
	3/01/18	OFFICE	SUPPLIES	310-51300-42000		
		53	201803			
	3/01/18	POSTAGE			
		54	201803	320-53800-12000		
	3/01/18	FIELD	MANAGEMENT  MAR18		
		54	201803	320-53800-49000		
		ENTRY	LIGHTS			

TO

EARTH

LAWNCARE

II,

INC

*

*

*

*

*

*

*

2,708.33

50.00

291.67

.06

.94

625.00

358.42

817.52	000200	

--------
3/20/18  00023

----	-	- - -	- - -	-	- - -	GOVERNMENTAL		
						----		
2/28/18		58542	201802		320-53800-46400		
3/10/18		12  SPRAY/2  DECODER/7	SPRY		
		58634	201803		320-53800-46200		

MANAGEMENT

SERVICES

*

*

640.00

6,116.00

4,034.42	000201	

3/10/18

3/10/18

3/10/18

MTHLY
58634
MTHLY
58634
MTHLY
58634
MTHLY

MNT-MAR18-PHASE	I
201803	320-53800-46200
MNT-MAR18-PHASE	II
201803	320-53800-46200
MNT-MAR18-AREA	1
201803	320-53800-46200
MNT-MAR18-ADD.PH2P2

*

*

*

1,423 . 00

350.00

1,150.00

DOWN	TO	EARTH	LAWNCARE	II,  INC

SHIN	SHINGLE	CREEK	TVISCARRA

9,679.00	000202	

AP300R				YEAR-TO-DATE	ACCOUNTS  PAYABLE  PREPAID/COMPUTER	CHECK	REGISTER		
*** CHECK	DATES	02/26/2018	-	04/30/2018  ***	GENERAL	FUND	FUND				
					BANK  A	GENERAL					

RUN	4/30/18	PAGE	2	

CHECK	VEND#	...•• INVOICE .••••••. EXPENSED  TO...		VENDOR	NAME	STATUS		
DATE		DATE	INVOICE	YRMO	DPT  ACCT#	SUB	SUBCLASS				

AMOUNT

•••• CHECK ..•••
AMOUNT	#

3/20/18	00016	

3/14/18	80146	201802  310-51300-31500	
	ROAD	IMPACT  FEE/CONVEYNCE	

*

748.10

3/20/18	00012	
3/27/18	00015	

- - -	-	----	- - -	-	-----	LATHAM,		
						- -		
3/20/18		03202018	201803		300-20700-10000		
- - -		FY18	DEBT	SERV	SER2015	SHINGLE		
	-	- -	- -	-	- -	-	-----			
								- -		
2/23/18		2018100	201802		310-51300-49200		
		2017	TAX	ROLL	FEE			

SHUKER,	EDEN	&	BEAUDINE

CREEK	COD	C/0  REGIONS	BANK

*

*

26,112.17

420.59

748.10	000203	
26,112.17	000204	

--------
4/06/18	00011

----	----		OSCEOLA	-	COUNTY	PROPERTY		
		------------	-	-		- -	-			
4/02/1855	201804	310-51300-34000								
4/02/18	MANAGEMENT  FEES  APR18								
	55	201804	310-51300-35200								
	INFO  TECHNOLOGY	APR18								
4/02/1855	201804	310-51300-31300								
	DISSEMINATION  FEE  APR18								
4/02/1855	201804	310-51300-51000								
	OFFICE	SUPPLIES									
4/02/1855	201804	310-51300-42000								
	POSTAGE									
4/02/1855	201804	310-51300-42500								
	COPIES										
4/02/1855	201804	310-51300-41000								
4/02/18	TELEPHONE									
	56	201804	320-53800-12000								
	FIELD	MANAGEMENT  APR18								
			GOVERNMENTAL	MANAGEMENT		

APPRAISER

SERVICES

*

*

*

*

*

*

*

*

2,708.33

50.00

291.67

.33

8.87

25.20

7.34

625.00

420.59	000205	

3,716.74	000206	

4/10/18	00007	
4/10/18	00020	

4/01/18	23773		201804	320-53800-47000		
	WATERWAY	MAINT	3	PONDS		
- - -	- - -	- -	- - -	-	AQUATIC		
					-------		
4/01/18	120748	201803	310-51300-31100		
4/01/18	COD	MTG/MAPS/FENCE  EXHIBT		
	120748A	201802	310-51300-31100		
	COD	MAPS					

WEED

CONTROL,

INC.

*

*

*

840.00

945.00

700.00

840.00	000207	

4/17/18	00023	

- - -	-	- - -		
4/10/18		59035		
4/10/18		MTHLY		
		59035		
4/10/18		MTHLY		
		59035		
		MTHLY		

----	----	FRANKLIN		
		----		
201804	320-53800-46200		
MNT-APR18-PHASE	I		
201804	320-53800-46200		
MNT-APR18-PHASE	II		
201804	320-53800-46200		
MNT-APR18-AREA	1		

SURVEYING

&

MAPPING

INC.

*

*

*

6,116.00

1,423.00

350.00

1,645.00	000208	

SHIN	SHINGLE	CREEK	TVISCARRA

AP300R *** CHECK

DATES

02/26/2018

-

YEAR-TO-DATE	ACCOUNTS  PAYABLE	PREPAID/COMPUTER		
04/30/2018  ***	GENERAL	FUND	FUND		
	BANK  A	GENERAL			

CHECK

REGISTER

RUN

4/30/18

PAGE

3

CHECK	VEND#
DATE

4/17/18	00016	
4/20/18	00012	

.••.• INVOICE ..•...•.EXPENSED	TO...				VENDOR  NAME			
DATE	INVOICE	YRMO	DPT	ACCT#	SUB	SUBCLASS					
											
4/10/18	59035	201804	320-53800-46200								
	MTHLY  MNT-APR18-ADD.PH2P2	DOWN	TO	EARTH	LAWNCARE	II,  INC			
												
4/13/18	80457	201803	310-51300-31500								
	CDD  MTG/CONVEY	AGMT/EXPND	LATHAM,	SHUKER,  EDEN  &	BEAUDINE		
									
4/19/18	04192018	201804	300-20700-10000								
	FY18  DEBT  SERV	SER2015	SHINGLE	CREEK	CDD  C/0	REGIONS	BANK		

STATUS					AMOUNT			•••• CHECK ..••.		
								AMOUNT	#		
*				1,150.00						
											
- -	-	-	-	-	- - -	-	-	9,039.00	000209		
								----			
*				3,054.59						
											
- -	-	-	-	-	- - -	-	-	3,054.59	000210		
								----			
*				45,650.26						
											
- -	-	-	-	-	- - -	-	45,650.26	000211		
							-	----			

4/24/18	00014	

4/17/18 4/17/18 4/17/18

8280	SITE	201801  320-53800-46300		
LCR		INSPECT/VEG.MNT		
8280A	SITE	201804	320-53800-46300		
LCR		INSPECT/VEG.MNT		
8280A		201804	320-53800-46300		
1ST  VEGETATION	MAINT  FYlB		
			AUSTIN		

ENVIRONMENTAL

CONSULTANTS

*					1,000.00					
*					1,000.00					
*					8,000.00					
-	-	-	-	-	----	-	10,000.00	000212		
							-----			

4/24/18	00011	

2/15/1851	201802	320-53800-48000
RPLC	FALLEN	REG.SIGNAGE
2/15/1852	201802	320-53800-48100
RPR/RPLC	ENTRENCE	LIGHTNG
GOVERNMENTAL	MANAGEMENT	SERVICES

*	379.50			
				
*	1,039.94			
				
	1,419.44	000213		

TOTAL	FOR	BANK	A

TOTAL	FOR	REGISTER

127,055.83

127,055.83

SHIN	SHINGLE

CREEK

TVISCARRA

SECTION 2

•	•	•	•		

•	•	•••••	•	•		

Shingle Creek

Community Development District

Unaudited Financial Reporting

March 31, 2018

•	•

•

•	•

•

•	•

1

2

3

4

5

6

7

8-9

Table of Contents

Balance Sheet

General Fund Income Statement

Debt Service Income Statement

Capital Projects Income Statement

	Month to Month	
	Long Term Debt Summary	
FY18	Assessment Receipt Schedule	
Series 2015 Construction Schedule	

Shingle Creek

COMMUNITY DEVELOPMENT DISTRICT

BALANCE SHEET

March 31, 2018

General	Debt Service

Fund	Fund

Capital Projects

Fund

Totals

2018

ASSETS:

CASH

OPERATING ACCOUNT - SUNTRUST

INVESTMENTS

SERIES 2015

RESERVE

REVENUE

CAPITALIZED INTEREST

SINKING FUND

CONSTRUCTION

TOTAL ASSETS

LIABILITIES:

ACCOUNTS PAYABLE

FUND EQUITY:

FUND BALANCES:

RESTRICTED FOR DEBT SERVICE 2015

RESTRICTED FOR CAPITAL PROJECTS 2015

UNASSIGNED

TOTAL  LIABILITIES & FUND EQUITY

$455,020		
	$725,069	
	$1,255,722	
	$0	
	$3	
$455,020	$1,980,793	
$827		

	$1,980,793	
$454,192		
$455,020	$1,980,793	

$3,473,984

$3,473,984

$3,473,984

$3,473,984

$455,020

$725,069

$1,255,722

$0

$3

$3,473,984

$5,909,797

$827

$1,980,793

$3,473,984

$454,192

$5,909,797

REVENUES:

ASSESSMENTS-TAX ROLL

ASSESSMENTS-DIRECT BILLED

TOTAL REVENUES

EXPENDITURES:

ADMINISTRATIVE:

Shingle Creek

COMMUNITY DEVELOPMENT DISTRICT

GENERAL FUND

Statement of Revenues & Expenditures

For The Period Ending March 31, 2018

ADOPTED	PRORATED BUDGET

BUDGET	THRU 3/31/18

$259,435	$242,329

$100,520	$50,260

$359,955	$292,589

ACTUAL

THRU 3/31/18

$242,329

$50,260

$292,589

VARIANCE

$0

$0

$0

ENGINEERING	
ATTORNEY		
ARBITRAGE		
DISSEMINATION	
ANNUAL AUDIT	
TRUSTEE FEES	
ASSESSMENT ADMINISTRATION	
MANAGEMENT FEES	
INFORMATION TECHNOLOGY	
TELEPHONE		
POSTAGE		
TRAVEL PER DIEM	
PRINTING &	BINDING	
INSURANCE		
LEGAL ADVERTISING	
OTHER CURRENT CHARGES	
OFFICE SUPPLIES	
PROPERTY APPRAISER	
DUES,	LICENSES & SUBSCRIPTIONS	
FIELD:			
FIELD SERVICES	
UTILITIES		
LANDSCAPE	MAINTENANCE	
LANDSCAPE	CONTINGENCY	
PROPERTY INSURANCE	
LONDON CREEK RANCH MAINTENANCE	
LAKE MAINTENANCE	
LAKE CONTINGENCY	
IRRIGATION REPAIRS	
CONTINGENCY	
TOTAL EXPENDITURES	
EXCESS REVENUES (EXPENDITURES)	
FUND	BALANCE- BEGINNING	
FUND	BALANCE-ENDING	

$25,000	
$40	,000	
$650	
$3,500	
$6,400	
$3,500	
$S,OOO	
$32,500	
$600	
$200	
$500	
$250	
$500	
$10,000	
$2,500	
$300	
$200	
$500	
$175	
$7,500	
$12,000	
$125,000	
$7,500	
$6,300	
$35,000	
$10,080	
$5,000	
$2,000	
$17,300	
$359,955	
	$0	
	$0	
	$0	

$12,500	
$20,000	
	$0	
$1,750	
	$0	
	$0	
$5,000	
$16,250	
$300	
$100	
$250	
$125	
$250	
$10,000	
$1,250	
$150	
$100	
$500	
$175	
$3,750	
$6,000	
$62,500	
$3	,750	
$6,300	
$17,500	
$5,040	
$2,500	
$1,000	
$8,650	
$185,690	

$5,000	
$8,097	
	$0	
$1,750	
	$0	
	$0	
$5,000	
$16,250	
$300	
	$0	
	$25	
	$0	
	$32	
$8,930	
$1,013	
	$50	
	$1	
$421	
$175	
$3,750	
$4,051	
$54,941	
$13,797	
$5,723	
	$0	
$5,040	
	$0	
$640	
$1,891	
$136,	876	
$155,713	
$298,479	
$454,192	

$7,500	
$11,903	
	$0	
	($0)	
	$0	
	$0	
	$0	
	$0	
	$0	
$100	
$225	
$125	
$218	
$1	,070	
$237	
$100	
	$99	
	$79	
	$0	
	$0	
$1,949	
$7,559	
($10,047)	
$577	
$17,500	
	$0	
$2,500	
$360	
$6,759	
$48,814	

2

REVENUES:

ASSESSMENTS -TAX ROLL ASSESSMENTS- DIRECT BILLED INTEREST

TOTAL REVENUES

EXPENDITURES:

INTEREST - 11/1

PRINCIPAL-11/1

INTEREST - 05/1

TOTAL EXPENDITURES

EXCESS REVENUES (EXPENDITURES)

FUND BALANCE - BEGINNING

FUND BALANCE· ENDING

Shingle Creek	
COMMUNITY DEVELOPMENT DISTRICT	
SERIES 2015	
DEBT SERVICE FUND	
Statement of Revenues & Expenditures	
For The Period Ending Man:h 31, 2018	
ADOPTED	PRORATED BUDGET	
BUDGET	THRU 3/31/18	
$1,239,880	$1,158,127	
$193,499	$89,010	
$0	$0	
$1,433,379	$1,247,137	
$536,527	$536,527	
$360,000	$360,000	
$530,002	$0	
$1,426,529	$896,527	
$6,850		
$905,843		
$912,693		

ACTUAL

THRU 3/31/18

$1,158,127

$89,010

$6,954

$1,254,091

$536,527

$360,000

$0

$896,527

$357,564

$1,623,229

$1,980,793

VARIANCE

$0

$0

$6,954

$6,954

$0

$0

$0

$0

3

REVENUES:

INTEREST

TOTAL REVENUES

EXPENDITURES:

CAPITAL OUTLAY

TOTAL EXPENDITURES

EXCESS REVENUES (EXPENDITURES)

FUND BALANCE - BEGINNING

FUND BALANCE - ENDING

Shingle Creek

COMMUNITY DEVELOPMENT DISTRICT

SERIES 2015

CAPITAL PROJECTS FUND

Statement of Revenues & Expenditures

For The Period Ending March 31, 2018

ADOPTED	PRORATED BUDGET

BUDGET	THRU 3/31/18

$0	$0

$0	$0

$0	$0

$0	$0

$0

$0

$0

ACTUAL

THRU 3/31/18

$33,923

$33,923

$3,064,898

$3,064,898

{$3,030,975)

$6,504,960

$3,473,984

VARIANCE

$33,923

$33,923

($3,064,898)

{$3,064,898)

4

REVENUES·							
AS::9¥1 ENTS	-	TAX	ROLL			
ASSESSMENTS	-	DfRECT BILLED	I		
TOTAL REVENUES					
					
EXPENDITURES:						
ADMINISTRATIVE:					
ENGINEERING						
ATTORNEY							
ARBITRAGE							
DISSEMINATION					
ANNUAL	AUDIT						
TRUSTEE	FEES						
ASSESSMENT ADMINISTRATION			
MANAGEMENT	FEES				
INFORMATION	TEOINOLOGY			
TELEPHONE							
POSTAGE							
TRAVEL PER	DtEM				
PRINTING & BINDING				
INSURANCE							
LEGAL AOI/ERTISING				
OTHER OJRRENT OfARGES			
OFFICE SUPPLIES				
PROPERTY APPRAISER			
DUES, LICENSES	& SUBSCRIPTIONS			
EliJJl;_								
FIELD SERVICES						
UTILITIES								
LANDSCAPE	MAINTENANCE			
LANDSCAPE	CONTINGENCY			
PROPERTY INSURANCE			
LONDON	CREEi(	RAND-I MAINTENANCE			
lAKE MAINTENANCE				
lAKE WNTINGENCY				
IRRIGATION	REPAIRS				
CONTINGENCY						
TOTAL EXPENDfTURES		I		
				
EXCESS REVENUES/IEXPENDITURES)	I		

""-

so

S2S,130

us,1;.o

$875

$3,212

$0

$292

so

so

S5,000

$2,708

$50

so

$6

so

Sll

$8,930

$764

so

so

so

$175

$625

$672

$10,042

$6,097

$5,723

$0

$840

so

$0

so

$46,022

($20,892!

Nov

S17,883
so

S17,883

$1,448

$2,874

$0

$292

so

so

so

S2,708

$50

so

$12

so

$3

$0

$249

so

so

so

$0

$625

$650

$9,039

$7,700

so

$0

$840

$0

so

$376

$26,866

!$81982!

	llec	
$202,597	
	so	
$	202,597	
	$1,033	
	$773	
	$0	
	$292	
	$0	
	$0	
	So	
	$2,708	
	$50	
	$0	
	$2	
	so	
	$17	
	$0	
	$0	
	so	
	so	
	$0	
	so	
	$625	
	$605	
	$8,742	
	so	
	$0	
	$0	
	$840	
	so	
	so	
	$0	
$15,688	
$186,910	

	Shingle	Creek		
Community Development District		
Jan	Feb	Ma,		
S5,360	Sll,025	SS,464		
$25,130	$0	so		
1-30,490	$11,025	Js,464		
$0	$700	$945		
$490	S748	so		
$0	$0	so		
$292	$292	$292		
$0	$0	so		
$0	$0	so		
$0	$0	$0		
$2,708	$2,708	S2,708		
$50	S50	$50		
$0	$0	so		
$2	$2	$1		
$0	$0	so		
$1	$0	so		
$0	$0	$0		
so	$0	$0		
$SO	so	$0		
$0	$0	so		
$0	$421	$0		
so	$0	$0		
$625	$62S	$625		
$755	S699	$670		
$9,039	$9,039	$9,039		
$0	$0	$0		
$0	$0	$0		
$0	$0	$0		
$840	$840	$840		
$0	$0	so		
$0	$640	so		
$1,157	$0	$358		
$16,008	516,765	$15,S28		
514.481	1ss.m1	f$1D,064l		

~!

so

$0

!o

$0

so

so

so

so

so

$0

$0

$0

$0

so

so

$0

$0

so

$0

$0

so

$0

$0

so

$0

$0

$0

$0

so

so

so

so

so

so

M!):

so

so

!o

$0

$0

so

$0

so

$0

so

$0

$0

$0

$0

so

so

$0

so
so

so

so

so

so

so

so

$0

$0

$0

so

$0

$0

$0

$0

so

""

so

so

so

so

so

$0

$0

so

so

$0

$0

so

$0

so

$0
so

$0

$0

$0

so

so

so

so

so

so

so

$0

$0

$0

so

$0

$0

so

so

..

so

$0

s o

$0

so

$0

$0

so

$0

so

so

$0

so

$0

$0

$0

$0

so

$0

$0

so

$0

$0

$0

$0

$0

$0

$0

so

so

so

$0

$0

$0

1

Aus:

so
so

$0

$0

$0

$0

so

$0

$0

$0

$0

$0

$0

$0

$0
so

so

so

$0

so

so

$0

$0

$0

$0

$0
so

$0

$0

$0

$0

$0

$0

so

See!;	T~t:al		
$0	S242,329		
so	SS0,260		
!o	S292,589	'	
so	SS,000		
so	S8,097		
$0	$0		
$0	Sl,7S0		
so	$0		
$0	so		
$0	$5,000		
so	$16,250		
$0	$300		
so	so		
$0	$2S		
so	$0		
so	$32		
$0	$8,930		
$0	$1,013		
so	$50		
$0	$1		
so	$421		
so	$175		
so	$3,750		
so	$4,051		
so	$54,941		
so	$13,797		
$0	SS,723		
$0	$0		
$0	SS,040		
so	$0		
so	$640		
$0	$1,891		
so	$136,876 1	
so	$155,713	j	

5

Shingle

Creek

COMMUNITY

DEVELOPMENT

DISTRICT

LONG

TERM

DEBT

REPORT

SERIES

2015,

SPECIAL

ASSESSMENT

REVENUE

BONDS

INTEREST RATE:		
MATURITY DATE:		
RESERVE FUND DEFINITION		
RESERVE FUND REQUIREMENT	
RESERVE FUND BALANCE		
BONDS OUTSTANDING- 9/30/15	
LESS:	PRINCIPAL PAYMENT	11/1/16	
LESS:	PRINCIPAL PAYMENT	11/1/17	

3.625%, 4.	500%,	5.125%, 5.	400%	
11/1/204>					
5 0 %MAXI MUM	ANNUAL DEBT SERVICE	
$716,689				
$725,069				
			$21,465,000	
			($345,000)	
			($360,000)	

CURRENT

BONDS

OUTSTANDING

$20,760,000

6

DATE

RECEIVED

DIST,

		SHINGLE CREEK					
		COMMUNITY DEVELOPMENT DISTRICT			
		SPECIAL ASSESSMENT RECEIPTS· FY2018				
		TAX COLLECTOR					
		GROSS ASSESSMENTS	$	1,S9S,OU;	$	27S,99S	
			NET ASSESSMENTS	$	1,499,31S	$	2S9,43S	
GROSS ASSESSMENTS	DISCOUNTS/	COMMISSIONS	INTEREST	NET	AMOUNT	GENERAL FUND	
RECEIVED	PENALTIES	PAID	INCOME	RECEIVED		17.30%	

$	1,319,021	
$	1,239,880	
	2015	
DEBTSERVICE	
	82.70%	

TOTAL

100%

11/9/17 11/24/17 12/15/17 12/28/17 1/16/18 1/26/18 2/14/18 3/15/18 3/15/18

ACH

ACH

ACH

ACH

ACH

ACH

ACH

ACH

ACH

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

4,602.71	
105,311.94	
1,219,778.46	
24,538.	71	
32,303.97	
66,459.00	
335.40	
32,207.04	

$

$

$

$

$

$

$
$

$

$

$

$

$
$
$
$

242.	39	
4,212.63	
48,794.	23	
789.88	

	966.17

	1,441.69

322.08

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

87.20	
2,022	.00	
23,419	.68	
474.97	
626	.76	
1,300	.34	
6.70	
637.71	

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

263.57

$
$
$
$
$
$
$
$
$

$
$
$
$
$
$

$

4,273.12

99,077.31

1,147,564.55

23,273.86

30,711.04

263.57

63,716.97

328.70

31,247.25

$

$

$

$

$

$

$

$

$

$

$

$

$
$
$
$

739.40

17,143.94

198,569.97

4,027.22

5,314.12

45.61

11,025.33

56.88

5,406.90

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

3,533.72	
81,933.37	
948,994.58	
19,246.64	
25,396	.92	
217.96	
52,691.64	
271	.82	
25,840.35	

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

4,273	.12	
99,077.31	
1,147,564.55	
23,273	.86	
30,711.04	
263	.57	
63,716	.97	
328.70	
31,247.25	

TOTALS

$	1,485,537.23	$	56,769.07	$	28,575.36	$	263.57	$	1,400,456.37	$	242,329.35	$	1,158, 127.02	$	1,400,456.37	

LEN OT HOLDINGS LLC

DATE

RECEIVED

10/16/17

1/2/18

2/24/18

4/3/18

DUE

DATE

10/1/17

1/1/18

3/1/18

4/1/18

7/1/18

9/1/18

DIRECT BILLED ASSESSMENTS									
		$294,018.67				$100,519.	65	$193,499.02		
CHECK		NET		AMOUNT		GENERAL		SERIES		
NO.		ASSESSED		RECEIVED		FUND			2015		
912999	$	25,129.91	$	25,129.91	$	25,129.91	$	.		
937980	$	25,129.91	$	25,129.91	$	25,129.91	$			
959934	$	89,009.55	$	89,009.55	$			$	89,009.55		
973293	$	25,129.91	$	25,129.91	$	25,129.91	$			
	$	25,129.91	$	.	$			$			
											
	$	104,489.47	$	.	$			$			
											
	$	294,018.66			$						
			$	164,399.28		75,389.73	$	89,009.SS		

7

Shingle

Creek

Community Development District

Special Assessment Bonds, Series 2015

Date	Requisition #	Contractor	Description	
Fiscal Year 2015					
8/5/15		2	Lennar Corporation	Acquisition of Infrastructure	
			TOTAL		
Fiscal Year 2015					
6/1/15			Interest		
7/1/15			Interest		
8/1/15			Interest		
9/1/15			Interest		
			TOTAL		
				Acquisition/Construction Fund at 5/28/15	
				Interest Earned thru 9/30/15	
				Requisitions Paid thru 9/30/15	
				Remaining Acquisition/Construction Fund	
Footnote: Requistjon 1	paid through co1 trust account.		

	Requisition	
$	4,969,742.47	
$	4,969,742.47	
$	117.39	
$	1,141.79	
$	1,308.61	
$	939.90	
$	3,507.69	
$19,800,000.00	
$	3,507.69	
$ (4,969,742.47)	
$14,833,765.22	

Date

Fiscal Year 2016

10/2/15

10/2/15

10/26/15

11/12/15

11/12/15

10/13/16

Requisition #

3

4

5

6

7

8

Contractor	Description		Requisition		
Billing, Cochran, Lyles, Mauro & Ramsey	Bond Related Legal Admin & Construction Services	$	7,249.05		
Franklin, Hart	& Reid	Survey, Bonds & Reimbursements through 9/1/15	$	4,868.75		
Franklin, Hart	& Reid	Bonds & Reimbursement through 10/7/15	$	7,010.00		
Franklin, Hart	& Reid	Construction Documents through 10/20/15	$	16,800.00		
Lennar Corporation	Construction Reimbursement through 8/31/15	$	2,134,772.82		
Franklin, Hart	& Reid					
		CIP Plans & Budget/Reimbursement thru 8/26/16	$	1,125.00		
TOTAL			$	2,171,825.62		

Fiscal Year 2016

10/1/15

11/1/15

12/1/15

1/1/16

2/1/16

3/1/16

4/1/16

5/1/16

6/1/16

7/1/16

8/1/16

9/1/16

Interest

Interest

Interest

Interest

Interest

Interest

Interest

Interest

Interest

Interest

Interest

Interest

TOTAL

$

$

$
$

$

$

$
$

$

$

$

$

$

121.93

125.89

110.58

669.03

1,724.86

2,062.11

2,417.37

2,423.00

2,603.24

2,680.56

2,673.20

2,767.00

20,378.77

Acquisition/Construction Fund at 10/1/16

Interest Earned thru 9/30/16

Requisitions Paid thru 9/30/16

Remaining Acquisition/Construction Fund

Footnote: Requisitions 3-5	& 7	accrued jn FVlS	

$14,833,765.22	
$	20,378.77	
$	(2,171,825.62)	
$12,682,318.37	

8

Shingle

Creek

Community Development District

Special Assessment Bonds, Series 2015

Date

Fiscal Year 2017

3/3/17

8/18/17

8/18/17

8/18/17

8/18/17

Requisition #	Contractor			Description			Requisition		
									
9	Lennar Corporation	Reimbursement	of Storey Lake Blvd. Ph 2 Costs	$	836,192.94		
10	Franlding Surveying & Mapping Inc.						
		lnv#119971, 120026	& 120155 - Review SL Ph2 Reim.	$	6,372.50		
11	Frankling Surveying & M appingnc.	lnv#120210 - 2016-2017 Reimb. Analysis &	Review	$	2,275.00		
12	Lenna- Corporation	Reimbursement	of Storey LakeBlvd.	1 & 2 Costs	$	5,386,076.19		
13	KPM Franklin	lnv#120239 -		Tract 1 Ph					
			Review of Storey Lake Reimbursements	$	7,700.00		
	TOTAL					$	6,238,616.63		

Fiscal Year 2017

10/1/16

11/1/16

12/1/16

1/1/17

2/1/17

3/1/17

4/1/17

5/1/17

6/1/17

7/1/17

8/1/17

9/1/17

Interest

Interest

Interest

Interest

Interest

Interest

Interest

Interest

Interest

Interest

Interest

Interest

TOTAL

Acquisition/Construction Fund at 10/1/16

Interest Ea med thru 9/30/17

Requisitions Paid thru 9/30/17

Remaining Acquisition/Construction Fund

$	2,801.29	
$	2,873.66	
$	2,870.92	
$	3,647.87	
$	4,545.84	
$	4,345.66	
$	5,108.09	
$	5,813.08	
$	6,347.31	
$	7,239.72	
$	8,589.50	
$	7,075.16	
$	61,258.10	
$	12,682,318.37	
$	61,258.10	
$	I&,238,616.&3I	
$	6,504,959.84	

Date	Requisition#	
Fiscal Year 2018		
1/29/18	14	
3/6/18	15	
3/6/18	17	
Flsca I Year 2018		

Contractor	Description		Requisition		
					
KPM Franklin	lnv#l20578 • Services related to Lennar reimbursement #5	$	6,300.00		
Lennar Corporation	Reimbursement #5 for Storey Lake	$	3,055,535.89		
KPM Franklin	lnv#120608 - Services related to Lennar reimbursement #5	S	3,062.50		
TOTAL		$	3,064,898.39		

10/1/17

11/1/17

12/1/17

1/1/18

2/1/18

3/1/18

Interest

Interest

Interest

Interest

Interest

Interest

TOTAL

Acquisition/Construction Fund at 10/1/17

Interest Earned thru 3/31/18

Requisitions Paid thru 3/31/18

Remaining Acquisition/Construction Fund

s	4,835.74	
s	5,242.63	
$	5,080.64	
s	5,934.33	
s	6,621.83	
$	6,207.86	
$	33,923.03	
$	6,504,959.84	
$	33,923.03	
$	(3,064,898.39)	
$	3,473,984.48	

9

SECTION

3

OSCEOLA

MARY JANE ARRINGTON

COUNTY SUPERVISOR OF ELECTIONS

April 17,	2018	

Ms. Stacie Vanderbilt

Administrative Assistant

Shingle Creek Community

135 W. Central Blvd.

Suite 320
Orlando, FL 32801

Development

District

RE

:

Shingle

Creek

Community

Development

District

-

Registered

Voters

Dear

Ms.

Vanderbilt:

Thank you for your letter of April 12, 2018 requesting confirmation of the number of

registered voters within the Shingle Creek Community Development District as of April

2018.

15,

The number of registered voters within the Shingle Creek COD is 246 as of April

If I can be of further assistance please contact me at 407.742.6000.

15,

2018

.

Respectfully

yours,

~

-

~

Mary

Jane

Arrington

Supervisor

of

Elections

IDJ~~~TIW1~1ffi

ll!

APR

1 9

2J18

L~j

BY:

____________

_

2509

East Irlo

Bronson

Memorial

Highway • Kissimmee,

FL

34

7

44

407.742.6000

• Fax:

407.742.6001

•

www.voteosceola.com