Rolling Oaks Community Development District

Agenda October 28, 2021

AGENDA
Rolling Oaks
Community Development District

219 East Livingston Street, Orlando, Florida 32801 Phone: 407-841-5524- Fax: 407-839-1526

October 21, 2021

Board of Supervisors Rolling Oaks Community Development District

Dear Board Members:

The meeting of the Board of Supervisors of  Rolling Oaks  Community  Development  District will be held Thursday, October 28, 2021 at 1:00 PM at Margaritav ille Resort Orlando, 8000 Fins Up Circle, Kissimm ee, Florida 34747. Following is the advance agenda for the meeting:

Roll Call
Public Comment Period
Approval of Minutes of the September 28, 2021 Meeting
Consideration of Agreement with Berger, Toombs, Elam, Gaines & Frank to Provide Auditing Services for Fiscal Year 2021
Consideration of Resolution 2022-01 Budget Amendment
Staff Reports
Attorney
Engineer
District Manager's Report
Approval of Check Register
Balance Sheet and Income Statement
Supervisor's Requests
Next Meeting Date - November 17, 2021
Adjournment

The second order of business of the Board of Supervisors meeting is the Public Comment Period where the public has an opportunity to be heard on propositions coming before the Board as reflected on the agenda, and any other items.

The third order of business is approval of the minutes of the September 28, 2021 Board of Supervisors meeting. The minutes are enclosed for your review.

The fourth order of business is consideration of Agreement with Berger, Toombs, Elam, Gaines & Frank to Provide Auditing Services for Fiscal Year 2021. A copy of the agreement is enclosed for your review.

The fifth order of business is consideration of Resolution 2022-01 budget amendment. A copy of the resolution is enclosed for your review.
The sixth order of business is Staff Reports. Section C is the District Manager's Report. Section 1 includes the check register being submitted for approval and Section 2 is the balance sheet and income statement for your review.

The balance of the agenda will be discussed at the meeting. In the meantime, if you have any questions, please contact me.

Sincerely,
\	1-
George S. Flint District Manager

CC:	Vivek Babbar, District Counsel Dave Schmitt, District Engineer

Enclosures

MINUTES

<J-.m	.    -• .-	..	·-.•	,- - --
MINUTES OF MEETING ROLLING OAKS
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Rolling Oaks Community Development District was held Thursday, September 28, 2021 at 1:00 p.m. at the Margaritaville Resort Orlando, 8000 Fins Up Circle, Kissimmee, Florida.

Present and constituting a quorum were:

John Chiste Jared Bouskila Cora Difiore Peter Brown
Steven Dougherty
Chairman
Vice Chairman by telephone Assistant Secretary by telephone Assistant Secretary
Assistant Secretary

Also present were:

George Flint Vivek Babbar Bruce Taylor
District Manager
District Attorney by telephone
District Engineer by telephone

FIRST ORDER OF BUSINESS	Roll Call
Mr. Flint called the meeting to order and called the roll.

SECOND ORDER OF BUSINESS	Public Comment Period
There being none, the next item followed.

THIRD ORDER OF BUSINESS	Approval of the Minutes of the August 26,
2021 Meeting

September 28, 2021	Rolling Oaks COD

FOURTH ORDER OF BUSINESS	Financing Matters
Mr. Flint stated this is a public hearing to con ider an amendment to the master assessment methodology. The Board previously reviewed the engineer's report and methodology and adopted a resolution setting today as the public hearing to consider its final adoption. We sent a notice to the landowner, we placed two notices in the newspaper and met all the statutory noticing requirements for the public hearing today.

Consideration of Engineer's Report
Mr. Flint stated the engineer's report is dated August 26, 2021 and has not changed since you saw it at your last meeting.
Mr. Taylor stated there are no changes to the report since the last meeting.

Consideration of Assessment Methodology
Mr. Flint stated next is the amended master assessment methodology dated August 26, 2021. The only change from what you saw last month is there were a couple acreage numbers that were transposed on the preliminary assessment roll table and we have corrected that scrivener's error and I handed out a revised report to the Board. Otherwise, none of the other tables have changes. Exhibit A to the preliminary assessment roll we have limited to just the legal description, previously it had the plat for Phase 8 included with the legal and we replaced what was in the agenda with just the legal description for the exhibit to that table.
Mr. Chiste stated all the tables 4, SB, SC really show that the apartments have no allocation of debt associated with them.
Mr. Flint stated right, we updated the tables to reflect a net developer contribution of
$S,728,000 and that number grossed up for the bond sizing is $7.7 million and that is reflected in this report. I have also prepared an estoppel letter in anticipation of the Board's approval of this that the bank for the developer has reviewed and I think is in final form so that is ready to go as well.

2
September 28, 2021	Rolling Oaks COD

Consideration of Resolution 2021-11 Levying Assessments
Mr. Babbar stated this is a standard resolution approving the finalization and equalization of the debt assessment that George presented in the methodology report. The whereas clauses go through the storyline as well as reference to the preliminary assessment resolution we adopted a month ago.

Mr. Flint stated we will note for the record that no members of the public are here to provide comment or testimony on the public hearing prior to the Board's action.

FIFTH ORDER OF BUSINESS
Attorney
Staff Reports
There being none, the next item followed.

Engineer
There being none, the next item followed.

Manager
Approval of Check Register

Balance Sheet and Income Statement
A copy of the balance sheet and income statement were included in the agenda package.

SIXTH ORDER OF BUSINESS	Supervisor's Requests
Mr. Chiste stated in looking at the balance sheet there is approximately $2.3 million in the construction fund. What have we or what do we still have to do to put a draw on that?

3
September 28, 2021	Rolling Oaks CDD

Mr. Brown stated that is the draw for the base and sidewalk. Mr. Chiste asked is Phase 7 the townhomes?
Mr. Brown responded yes.
Mr. Chiste stated we are spending those dollars now. Mr. Brown stated we are starting now.
Mr. Chiste stated based on the size of this it is probably worth doing one draw.
Mr. Brown stated we may have a little bit left in 6 to draw. We will have a draw probably in the next 60 - 70 days. Then we have the 2022 series to get working on, that will be the 345 Margaritaville Condos.

SEVENTH ORDER OF BUSINESS	Next Meeting Date
Mr. Flint stated the next meeting date is October 28, 2021. We will get with the Chair in advance of that to determine whether there is business that needs to take place.

Secretary/Assistant Secretary	Chairman/Vice Chairman

4

S ECTION IV
Berger, Toombs, Elam,
...o,,	Gaines & Frank
Certified Public Accountants PL
600 Citrus Avenue
Suite 200
Fort Pierce, Florida 34950
772/461-6120 // 461-1155
FAX: 772/468 -9278

September 15, 2021

Rolling Oaks Community Development District Governmental Management Services
6200 Lee Vista Blvd, Suite 300
Orlando, FL 32822

The Objective and Scope of the Audit of the Financial Statements

You have requested that we audit the financial statements of Rolling Oaks Community Development District, which comprise governmental activities and each major fund as of and for the year ended September 30, 2021 which collectively comprise the basic financial statements. We are pleased to confirm our acceptance and our understanding of this audit engagement by means of this letter for the year ending September 30, 2021.

The objectives of our audit are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but Is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with auditing standards generally accepted in the United States of America (GAAS) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users made on the basis of these financial statements. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

The Responsibilities of the Auditor

We will conduct our audit in accordance with (GAAS). Those standards require that we comply with applicable ethical requirements. As part of an audit in accordance with GAAS, we exercise professional judgement and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Member AICPA
Fort Pierce / Stuart

Member AICPA D ivision for CPA Firms Private Companies practice Section

Member FICPA
&		Berger, Toombs, Elam, Gaines & Frank

Rolling Oaks Community Development District September 15, 2021
Page2

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances but not for the purpose  of expressing an opinion on the effectiveness of the District's internal control. However, we will communicate to you in writing concerning any significant deficiencies or material weaknesses in internal control relevant to the audit of the financial statements that we have identified during the audit.

Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements, including the disclosures, and whether the financial statements·represent the underlying transactions and events in a manner that achieves fair.presentation.

Conclude, based on the audit evidence obtained, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the District's ability to continue as a going concern for the reasonable period of time.

Because of the inherent limitations of an audit, together with the inherent limitations of internal control, an unavoidable risk that some material misstatements may not be detected exists, even though the audit is properly planned and performed in accordance with GAAS.

We will maintain our independence in accordance with the standards of the American Institute of Certified public Accountants.
Berger, Toombs, Elam,
'O'	Gaines & Frank

Rolling Oaks Community Development District September 15, 2021
Page 3

The Responsibilities of Management and Identification of the Applicable Financial Reporting Framework

Management is responsible for:

Identifying and ensuring that the District complies with the laws and regulations applicable to its activities, and for informing us about all known violations of such laws or regulations, other than those that are clearly inconsequential;

The design and implementation of programs and controls to prevent and detect fraud, and for informing us about all known or suspected fraud affecting the District involving management, employees who have significant roles in internal control, and others where the fraud could have a material effect on the financial statements; and

Informing us of its knowledge of any allegations of fraud or suspected fraud affecting the District received in communications from employees, former employees, analysts, regulators, short sellers, vendors, customers or others.

The Board is responsible for informing us of its views about the risks of fraud within the entity, and its knowledge of any fraud or suspected fraud affecting the entity.

Our audit will be conducted on the basis that management acknowledges and understands that it has responsibility:

To evaluate subsequent events through the date the financial statements are issued or available to be issued, and to disclose the date through which subsequent events were evaluated in the financial statements. Management also agrees that it will not conclude on subsequent events earlier than the date of the management representation letter referred to below;

For the design, implementation and maintenance of internal control relevant to the preparations of fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; and

To provide us with:

Access to alt information of which management is aware that is relevant to the preparation and fair presentation of the financial statements including information relevant to disclosures;

Draft financial statements, including information relevant to their preparation and fair presentation, when needed to allowed for the completion of the audit in accordance with the proposed timeline;
cSb Berger, Toombs, Elam,
qj/	Gaines & Frank

Rolling Oaks Community Development District September 15, 2021
Page4

Additional information that we may request from management for the purpose of the audit; and

Unrestricted access to persons within the District from whom we determine it necessary to obtain audit evidence.

As part of our audit process, we will request from management written confirmation concerning representations made to us in connection with the audit, including among other items:

That management has fulfilled its responsibilities as set out in the terms of this arrangement letter; and

That it believes the effects of any uncorrected misstatements aggregated by us during the current engagement and pertaining to the latest period presented are immaterial, both individually and in the aggregate, to the financial statements taken as a whole.

Reporting

We will issue a written report upon completion of our audit of Rolling Oaks Community Development District's financial statements. Our report will be addressed to the Board of Rolling Oaks Community Development District. We cannot provide assurance that an unmodified opinion will be expressed. Circumstances may arise in which it is necessary for us to modify our opinion, add an emphasis-of-matter or other-matter paragraph(s), or withdraw from the engagement.

Records and Assistance

During the course of our engagement, we may accumulate records containing data that should be reflected in the Rolling Oaks Community Development District books and records. The District will determine that all such data, if necessary, will be so reflected. Accordingly, the District will not expect us to maintain copies of such records in our possession.

The assistance to be supplied, including the preparation of schedules and analyses of accounts, has been discussed and coordinated with lndhira Araujo. The timely and accurate completion of this work is an essential condition to our completion of the audit and issuance of our audit report.

Other Relevant Information

In accordance with Government Auditing Standards, a copy of our most recent peer review report has been provided'to you, for your information.

Either party may unilaterally terminate this agreement, with or without cause, upon sixty (60) days written notice subject to the condition that the District will pay all invoices for services rendered prior to the date of termination.
d'.b Berger, Toombs, Elam,
qj1	Gaines & Frank

Rolling Oaks Community Development District September 15, 2021
Page 5

Fees, Costs and Access to Workpapers

Our fees for the services described above are based upon the value of the  services performed and the time required by the individuals assigned to the engagement, plus direct expenses. Invoices for fees will be submitted in sufficient detail to demonstrate compliance with the terms of this engagement. Billings are due upon submission. Our fee for the services described in this  letter for the year ending September 30, 2021 will not exceed $3,450, unless the scope of the engagement is changed, the assistance which Rolling Oaks Community Development District has agreed to furnish is not provided, or unexpected conditions  are encountered,  in which case we will discuss the situation with you before proceeding. All other provisions of this letter will survive any fee adjustment.

In the event we are requested or authorized by Rolling Oaks Community Development District or are required by government regulation, subpoena, or other legal process to produce our documents or our personnel as witnesses with respect to our engagement for Rolling Oaks Community Development District, Rolling Oaks Community Development District will, so long as we are not a party to the proceeding in which the information is sought, reimburse us for our professional time and expenses, as well as the fees and expenses of our counsel, incurred in responding to such requests.

The audit documentation for this engagement is the property of Berger, Toombs, Elam, Gaines, & Frank and constitutes confidential information. However, you acknowledge and grant your assent that representatives of the cognizant or oversight agency or their designee, other government audit staffs, and the U.S. Government Accountability Office shall have access to the audit documentation upon their request and that we shall maintain the audit documentation for a period of at least three years after the date of the report, or for a longer period if we are requested to do so by the cognizant or oversight agency.

Access to requested documentation will be provided under the supervision of Berger, Toombs, Elam, Gaines, & Frank audit personnel and at a location designated by our Firm.
Berger, Toombs, Elam,
QSI Gaines & Frank

Rolling Oaks Community Development District September  15, 2021	,
Page 6

Information Security - Miscellaneous Terms

Berger, Toombs, Elam, Gaines & Frank is committed to the safe and confidential treatment of Rolling Oaks Community Development District's proprietary information. Berger, Toombs, Elam, Gaines & Frank is required to maintain the confidential treatment of client information in accordance with relevant industry professional standards which govern the provision of services described herein. Rolling Oaks Community Development District agrees that it will not provide Berger, Toombs, Elam, Gaines & Frank with any unencrypted electronic confidential or proprietary information, and the parties agree to utilize commercially reasonable measures to maintain the confidentiality of Rolling Oaks Community Development District's information, including the use of collaborate sites to ensure the safe transfer of data between the parties.

If any term or provision of this arrangement letter is determined to be invalid or unenforceable, such term or provision will be deemed stricken and all other terms and provisions will remain in full force and effect.

Because Berger, Toombs, Elam, Gaines & Frank will rely on Rolling Oaks Community Development District and its management and Board of Supervisors to discharge the foregoing responsibilities, Rolling Oaks Community Development District holds harmless and releases Berger, Toombs, Elam, Gaines & Frank, its partners, and employees from all claims, liabilities, losses and costs arising in circumstances where there has been a known misrepresentation by a member of Rolling Oaks Community Development District's management, which has caused, in any respect, Berger, Toombs, Elam, Gaines & Frank's breach of contract or negligence. This provision shall survive the termination of this arrangement for services.

This letter constitutes the complete and exclusive statement of agreement between Berger, Toombs, Elam, Gaines, & Frank and Rolling Oaks Community Development District, superseding all proposals, oral or written, and all other communications, with respect to the terms of the engagement between the parties.
&	Be rger, Toombs, Elam,
qj1	Gaines & Frank

Rolling Oaks Community Development District September 15, 2021
Page 7

Please sign and return the attached copy of this letter to indicate your acknowledgment of, and agreement with, the arrangements for our audit of the financial statements including our respective responsibilities.

Sincerely,
J) da,nh,l ri
O JOPJA.W-	JlliuJ
BERGER, TOOMBS, ELAM, GAINES & FRANK
J. W. Gaines, CPA

Confirmed on behalf of the addressee:

Judson B. Baggett
MBA, CPA, CVA, Partner
Marci Reutimann
CPA, Portner

Report on the Firm's System of Quality Control
11 6815 Dairy Road Zephyrhills, FL 33542
')    (813) 788-2155
A   (813) 782-8606

To the Partners	October 30, 2019
Berger, Toombs, Elam, Gaines & Frank, CPAs, PL
and the Peer Review Committee of the Florida Institute of Certified Public Accountants

We have reviewed the system of quality control for the accounting and auditing practice of Berger, Toombs, Elam, Gaines & Frank, CPAs, PL, (the firm), in effect for the year ended May  31, 2019.  Our peer review was conducted in accordance with the Standards for Performing and Reporting on Peer Reviews established by the Peer Review Board of the American Institute of Certified Public Accountants (Standards).

A summary of the nature, objectives, scope, limitations of, and the procedures performed in a System Review as described in the Standards may be found at aicpa.org/prsummary. The summary also includes an explanation of how engagements identified as not performed or reported in conformity with applicable professional standards, if any, are evaluated by a peer reviewer to determine a peer review rating.

Firm's Responsibility

The firm is responsible for designing a system of quality control and complying with it to provide the firm  with reasonable assurance of performing and reporting in conformity with applicable professional standards in all material respects. The firm is also responsible for evaluating actions to promptly remediate engagements deemed as not performed or reported in conformity with professional standards, when appropriate, and for remediating weaknesses in its system of quality control, if any.

Peer Reviewer's Responsibility

Our responsibility is to express an opinion on the design of the system of quality control, and the firm's compliance therewith based on our review.

Required Selections and Considerations

Engagements   selected   for  review  included	engagements performed under Government Auditing Standards, including a compliance audit under the Single Audit Act.

As a part of our peer review, we considered reviews by regulatory entities as communicated by the firm, if applicable, in determining the nature and extent of our procedures.

Opinion

In  our  opinion,  the  system  of  quality  control  for  the  accounting  and  auditing   practice·   of Berger, Toombs, Elam, Gaines & Frank, CPAs, PL, in effect for the year ended May 31, 2019, has been suitably designed and complied with to provide the firm with reasonable assurance of performing and reporting in conformity with applicable professional standards in all material respects. Firms can receive a rating of pass, pass with deficiency(ies), or fail. Berger, Toombs, Elam , Gaines & Frank, CPAs, PL has received a peer review rating of pass.

Member American Institute of Cer1ified Public Accountants (AICPA) and Florido Institute of Certified  Public Accountants  (FICPA) Notional Association of Certified Valuation Analysts (NACVA)

ADDENDUM TO ENGAGEMENT LETTER BETWEEN BERGER, TOOMBS, ELAM, GAINES AND FRANK AND ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT
(DATED SEPTEMBER  15, 2021)

Public Records. Auditor shall, pursuant to and in accordance with Section 119.0701, Florida Statutes, comply with the public records laws of the State of Florida,  and specifically shall:

Keep and maintain public records required by the District to perform the services or work set forth in this Agreement; and

Upon the request of the District's custodian of public records, provide the District with a copy of the requested records or allow the records to be inspected or copied within a reasonable time at a cost that  does not exceed the cost provided in Chapter 119, Florida Statutes, or as otherwise provided by law; and

Ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except  as  authorized by law for the duration of the contract term and following completion of the Agreement if the Auditor does not transfer the records to the District; and

Upon completion of the Agreement, transfer, at no cost to the District, all public records in possession of the Auditor or keep and maintain public records required by the District to perform the service or work provided  for in this Agreement. If the Auditor transfers all public records to the District upon completion of the Agreement, the Auditor shall destroy any duplicate public records that are exempt or confidential and exempt from public disclosure requirements. If the Auditor keeps and maintains public records upon completion of the Agreement, the Auditor shall meet all applicable requirements for retaining public records. All records stored electronically must be provided to the District, upon request from  the District's  custodian of public records, in a format that is compatible with the information technology systems of the District.

Auditor acknowledges that any requests to inspect or copy public records relating to this Agreement must be made directly to the District pursuant to Section 119.0701(3), Florida Statutes. If notified by the District of a public records  request  for records not in the possession of the District but in possession of the Auditor, the Auditor shall provide such records to the District or allow the records to be inspected or copied within a reasonable time. Auditor acknowledges that should Auditor fail to provide the public records to the District within a reasonable time, Auditor may be subject to penalties pursuant to Section 119.10, Florida Statutes.

IF THE AUDITOR HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE AUDITOR'S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS AGREEMENT/CONTRACT, THE AUDITOR MAY CONTACT THE CUSTODIAN OF PUBLIC RECORDS FOR THE DISTRICT AT:

GMS-SF,LLC
6200 LEE VISTA BLVD, SUITE 300
ORLANDO, FL 32822
TELEPHONE: 407-841-5524

Auditor: J.W. Gaines
,.
By:	 	

Title: Director

Date: September 15, 2021
District: Rolling Oaks CDD

By:									 Title: 							_ Date: -	-	-	-	-	-	-	-

S ECTION V
RESOLUTION 2022-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT APPROVING AN AMENDEDMENT TO THE GENERAL FUND BUDGET FOR FISCAL YEAR 2021 AND PROVIDING FOR AN EFFECTIVE DATE.

WHEREAS, pursuant to Resolution 2020-08 the Rolling Oaks Community Development District Board of Supervisors (the "Board") adopted a General Fund Budget for Fiscal Year 2021; and

WHEREAS, the Board desires to amend the budgeted revenues and expenditures approved for Fiscal Year 2021.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT:

The General Fund Budget for Fiscal Year 2021 is hereby amended and restated as set forth on the Fiscal Year 2021 Budget attached hereto as "Exhibit A".

This Resolution shall take effect immediately upon adoption and be reflected in the monthly and Fiscal Year End 9/30/2021 Financial Statements and Audit Report of the District.

PASSED AND ADOPTED THIS 28TH DAY OF OCTOBER, 2021.

ATTEST :	BOARD OF SUPERVISORS OF THE ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT

Secretary
By:_ _ _
_ _ _ _ _
_ _ _
Its:- - - - - - - - - - -

Rolling Oaks
Community De velopn1ent District

Amended Bu dget
FY 2021

••,..
Pl

Table of Contents

1-2	 	General Fund 
Rolling Oaks
Community Development District

Amen ded Budget Ge neral Fund

	Adopted
Budget	
Increase/	Amended
Budget			
Description	FY2021	(Decrease)	FY2021		Actuals	
Revenues						
Assessments	$224,536	$0	$224,536		$227,208	
Miscellaneious Income	$0	$12,571	$12,571		$12,571	
Developer Contributions	$79,651	$22,726	$102,377		$78,704	
Carryforward	$0	$129,752	$129,752		$129,752	
Total Revenues	$	304,187	$	165,049	$	469,236	   $		448,234	

Expenditures						
Administrative						
Supervisor Fees	$12,000	$0	$12,000		$7,400	
FICA Expense	$91_8	$0	$918		$566	
Engineering	$10,000	$0	$10,000		$0	
Attorney	$15,000	$0	$15,000		$3,959	
Arbitrage	$900	$0	$900		$900	
Dissemination	$7,000	$0	$7,000		$7,000	
Assessment Administration	$10,000	$0	$10,000		$10,000	
Annual Audit	$3,900	$0	$3,900		$3,150	
Trustee Fees	$7,000	$0	$7,000		$7,000	
Management Fees	$35,000	$0	$35,000		$35,000	
Information Technology	$600	$0	$600		$600	
Telephone	$300	$0	$300		$0	
Postage	$800	$0	$800		$510	
Insurance	$6,483	$0	$6,483		$6,189	
Printing & Binding	$800	$0	$800		$337	
Legal Advertising	$2,600	$1,200	$3,800		$3,775	
Other Current Charges	$500	$1,500	$2,000		$1,231	
Office Supplies	$125	$15	$140		$139	
Property Appraiser Fee	$180	$0	$180		$152	
Property Taxes	$1,100	$0	$1,100		$8	
Meeting Room	$0	$750	$750		$698	
Dues, Licenses & Subscriptions	$175	$0	$175		$175	
Administrative	enses	$11 5,381	$3,465	$11-8 ,846		$88,789	
Rolling Oaks
Community Development District

Amended Budget General Fund

	Adopted
Budget	
Increase/	Amended
Budget			
Description		FY2021	(Decrease)	FY2021	Actuals	

Field Operation						
Utilities - Electric		$0	$91,892	$91,892	$91,892	
Utilities - Water & Sewer		$50,000	$11,292	$61,292	$61,292	
Landscape Maintenance		$84,160	$0	$84,160	$82,088	
Landscape Enhancements		$0	$35,000	$35,000	$34,886	
Landscape Irrigation		$0	$8,000	$8,000	$7,745	
Lawn MowingfTrimming		$0	$15,400	$15,400	$13,200	
Lake Maintenance		$47,276	$0	$47,276	$30,023	
Contingency		$7,370	$0	$7,370	$4,990	
Field Ol!eration Expenses	$	188,806	$	161,584	$	350,390	$	326,114	
						
Total Exl!endimres	$	304,187	$	165,049	$	469,236	$	414,903	
						
Excess RevenuesL(Expen4ttares)	$'	0	$	(0)	$	$	:U,331	

2

S ECTION VI

S ECTION C

S ECTION 1

Rolling Oaks
Community Development District

Summary of  Check Register

September 21, 2021 to October 22, 2021

Fund	Date	CheckNo.'s	Amount

General Fund

10/18/21	335	$	175.00

Total Amount	$	t7s.oo 1
AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN 10/22/21
*** CHECK DATES 09/21/2021 - 10/22/2021 ***	ROLLING OAKS GENERAL FUND
BANK A GENERAL FUND
PAGE	1
CHECK  VEND# .....INVOICE••••...•EXPENSED TO...	VENDOR NAME DATE	DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS
10/18/21 00002	10/01/21 85297	202110 310-51300-54000
SPECIAL DISTRICT FEE FY22
STATUS	AMOUNT	.•••CHECK.....
AMOUNT	#
*	175.00
DEPARTMENT OF ECONOMIC OPPORTUNITY	175.00 000335

TOTAL FOR BANK A TOTAL FOR REGISTER
175.00
175.00

ROAK ROLLING OAKS	IARAUJO

S ECTION 2

Rolling Oaks
Comm..1nity Develop,nent Dist r ict

Unaudited Financial Reporting
Sept ember 30, 202 1

Table of Contents

Balanee Sheet

General Fund

Series 2016 Debt Service

Series 2018 Debt Service

Series 2016 Capital Projects

Series 2018 Capital Projects

Month to Month

Long Term Debt Summary

Assessment Receipt Schedule

Series 2016 Construction Schedule

Series 2018 Construction Schedule

Rolling Oaks
Community Development District Combined Balance Sheet September 30, 2021

Assets:	General	Debt Service	Capital Projects	Totals
Fund	Fund	Fund	Governmental Funds	
Operating Account - Suntrust
Investments	$	12,075	$	$	$	12,075	
Series 2016		
Reserve	$	$	1,124,763	$	$	1,124,763	
Revenue	$	$	796,670	$	$	796,670	
Interest	$	$	2	$	$	2	
Sinking Fund	$	$	34	$	$	34	
Construction	$	$	$	1,273	$	1,273	
Series 2018		
Reserve	$	$	899,877	$	$	899,877	
Revenue	$	$	594,273	$	$	594,273	
Interest	$	$	2	$	$	2	
Sinking Fund	$	$	1	$	$	1	
Construction	$	$	$	2,281,065	$	2,281,065	
Due From General Fund	$	$	$	$	
Due From Developer	$	50,719	$	$	$	50,719	

T9'11111,.,,..	I	A,'794  !	 11,621	$	 .338	I	f.s711.711

Liabilities:
Accounts Payable	$	29,324	$	$	$	29,324
Total Li bilities	$	29,324	$	$	$	29,324 Fund Balances:
Unassigned		$	33,470     $	$		$		33,470 Assigned for Debt Service 2016	$		$       1,921,469     $		$	1,921,469 Assigned  for Debt Service 2018	$		$      1,494,152      $		$	1,494,152 Assigned for Capital Projects 2016	$		$	$	1,273     $			1,273 Assigned for Capital Projects 2018	$		$	$       2,281,065     $	2,281,065

Total Fund Balances	$	313,470	$	3,415,621	$	2,282,338	$	5,731,,429

Total L1abilit1es & Fund Balance	$	62,794	$	3,415,621	$	2,282,338	$	5,760,753
Rolling Oaks
Community Development District.
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
l'or The Period Ending September 30, 2021

Adopted	Prorated Budget	Actual
- .- :_ _;  - •-..   .J •	\.'t:. '- ·' l

_:" · ..

Assessments	$	224,536	$	224,536	$	227,208	$	2,672	
Miscellaneous Income	$		$	$	12,571	$	12,571	
Developer Contributions	$	79,651	$	79,651	$	78,704	$	(947)	
Total Revenues	s	304,187	$	304,187	$	318,482	$	ll,623	

Expendih1res·						
6eoerol & Administrative·						
Supervisor Fees	$	12,000	$	12,000	$	7,400	$	4,600	
FICA Expense	$	918	$	918	$	566	$	352	
Engineering	$	10,000	$	10,000	$	$	10,000	
Attorney	$	15,000	$	15,000	$	3,959	$	11,041	
Arbitrage	$	900	$	900	$	900	$	
Dissemination	s	7,000	$	7,000	$	7,000	$	0	
Assessment Administration	s	10,000	$	10,000	$	10,000	$	
Annual Audit	s	3,900	$	3,900	$	3,150	$	750	
Trustee Fees	$	7,000	$	7,000	$	7,000	$	
Management Fees	$	35,000	$	35,000	$	35,000	$	(0)	
Information Technology	$	600	$	600	$	600	$	
Telephone	s	300	$	300	$	$	300	
Postage	s	800	$	800	$	510	$	290	
Insurance	$	6,483	$	6,483	$	6,189	$	294	
Printing & Binding	$	800	$	800	$	337	$	463	
Legal Advertising	$	2,600	$	2,600	$	3,775	$	(1,175)	
Other Current Charges	s	500	$	500	$	1,231	$	(731)	
Office Supplies	s	125	$	125	$	139	$	(14)	
Property Appraiser Fee	$	180	$	180	$	152	$	28	
Property Taxes	$	1,100	$	1,100	$	8	$	1,092	
Meeting Room	s		$	$	698	$	(698)	
Dues. Licenses & Subscriptions	$	175	$	175	$	175	$	
Total <i«:n ¥,Administrative:	$	115,381	$	115,381	$	88,789	$	26,S.9'2	
Operations and Maintenance Expenses						
fiehl Om:m1ions						
Utility-Electric	$		$	$	91,892	$	(91,892)	
Utility-Water and Sewer	$	50,000	$	50,000	$	61,292	$	(11,292)	
Landscape Maintenance	$	84,160	$	84,160	$	82,088	$	2,072	
Landscape Enhancements	$		$	$	34,886	$	(34,886)	
Landscape lnigation	$		$	$	7,745	$	(7,745)	
Lawn Mowing/Trimming	$		$	$	13,200	$	(13,200)	
Lake Maintenance	$	47,276	$	47,276	$	30,023	$	17,253	
Contingency	$	7,370	$	7,370	$	4,850	$	2,520	

Tot,aJ Oper ns ancl Mainte,n,anfe:		 $	1e$J1!l6    $	:l:{!$ 06    $	32$,975     $	(137Jc69) Totalhpeudl.m,es		s		304 ,J(J7	$		30. ,187     s	4'14,764    $	(ll0,5771
E cess Revenues (Expenditures)	$	-	S	(96,281)

2
Rolling Oaks
Community Development District
Debt Service Fund  • Series 2016
Statement of Revenues , Expenditures, and Changes in Fund Balance

-	-	·-'---'

_ _£_		.i\;

_i!i/£,;)' - t-- ,!.., ---	.

$

$

S

$
                                      s	

3
Rolling Oaks
Community Development District
Debt Service Fund - Series 2018
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period EndingScptembcr 30, 2021

::	-
.  -··.--  ,. ·--:!:

!'!IiIL

Adopted	Prorated Budget	Actual
.:•:;f.f;:-.:l'd. .-.   '/:---···-····  .,I...·:.

Revenues						
Assessments - Direct	$	900,000	$	900,000	$	900,000	$		
Interest	$	5,000	$	5,000	$	133	$	(4,867)	
Total Revenues	$	905,000	$	905,000	$	900,133	s	(4,867)	

Expenditures·						
Interest-11/01	$	350,813	$	350,813	$	350,813	$		
Principal -11/01	$	195,000	$	195,000	$	195,000	$		
Interest- 05/01	$	346,547	$	346,547	$	346,547	$	(0)	
Total bpendJtures	 	s	89  ,359	$	892 ,359	$	892,359    $		(OJ					
Other Sources{(Uses)						

Transfer in/Out		$	$	.	
$	124	
$	124		

Total Other Financing Sources	
ses}	$	-  $	.	
$	124	
$	124		

S

$
 	s	59-t  11	s	

4
Rolling Oaks
Community Development District
Capital Projects  Fund - Series 2016
Statement of Revenues, Expenditures, and Changes in Fund Balance
Fo1·11ie Period Ending September 30, 2021
--	•               -                        1                  -                        -                 _•: _·.:1;J -	t

Prorated Budget	Actual
-ii i:Jd ,l ,i - .._,:. - - - .L:( .:. '.:

Beven11es					
Interest	$	-	$	$	0	$	0	
Total Revenues	$	.	$	- s	0	$	0	

E1Pendit11res·

Capital Outlay	

$	

$	$		

$	

Totlll Exp...utDres	 	$		$		$		$	

Other Fioaocing Sources((Uses)

Transfer In/Out	$	$	$	1,269    $	1,269
Total Other Flnancln11 Sources (Uses )	$	s	-   $	1,269     $ 	1.269

Excess Revenues (Expenditures}	$	-	$	1,269
 FundBalance- Bqlnbing	$	$	4
s	s	

5
Rolling Oaks
Community Development District
Capital Projects Fund - Series 2018
Statement of Revenues, Expenditures, and Changes in Fund Balance
Fol'111e Period Ending September 30, 2021

Revenues		
Interest	$	$	$	228	$	228	
Total Revenues

EXPeodlt;ures·	$	-  $	-   $	228	$	2 28	
Capital Outlay	$	-   $	$	3,500    $	(3,500)	
Total lixpendlwrea	 	s	$	-  $	3,590	$		(a.SOO)	
Qther floaociog Sourc;es {[l(ses)		

Transfer In/Out	$	$	$	(124)   $	(124)

Total Other Financing Sourc'5 (Usesi	$	$	$	(124}   $	(124)

Excess Revenues (Expendit ures )	$	•	5

6

........
Rolling Oaks
Commun.tty Dt-wt rnw1:t O'!Strkt
Month. to Month

M	- 
Assessment5	s	s     20,238     $       137,660     s       6,335    s       9,692     s       3,613     $          41,724     s    S,261    $	2,685     $	$	$	$       227,208
Miscellaneous Income	$	I	I	s	$	s	I	s      12.388    I	s	$	$	183       s     12,571
Developer Contributions	I	s	$	$	$	s	s	s	s	$	s       2,228      $           76,476     s     78,704
"'-'•-	s	!	I	$	$	s	$	•  l  88  I	s	I =• t 7U S9 s t

s	Z.000
s	153
Engineering	s	I	s	I	s	s	s	I	5	s	s	I	s
s	171      5	I	171      s	200     I	588     s	2Z8     s	770 s	s	1,831     s	s	s	I	3,959
Arbltnge	s	I	I	s	s	900     s	s	s	I	s	I	s	s	900
Dissemination	s        583      s        583      I	583      s        583      s        583      s       583      I	583      s        583      s        583     I	583      I	583     I	583     I	7,000
Assessment Administration	I        10,000     $	I	$	I	s	s	s	s	s	I	s	I 10,000 Annual Audit	s	s	s	I	s	I	$	$	s      3,150    s	s	s	s  3,150 Tru F s	s       3,500     I         3,500    s	s	s	s	$	I	s	$               $               I                I          7,000 Manageml!!ntFees                                               s      2,917     I          2,917     s      2,917     I          2,917     I          2,917     I          2,917     s       2,917     s       2,917     s      2,917     s      2,917     I          2,917     $            2,917     I   35,000
Information Technology	s	50     $	50     s	so  s	so  s	so  I	50     I	50     s	so  I	so  I	50      s	50     s	50     I	600
Telephone	s	s	s	s	s	s	s	I	I	s	I	s	s
s	59     I	2     $	21     s	3     s	13      s	99      s	87     s	94      $	84      s	15      $	lS      s	19      I	510
lnsur:ance	s	6,189     s		s	$	s		I	$		s		s		s		$		s		s	6 ,189 Printing & Blnding	s		s	27     s	s	$	27     s	s	23     s	23     s	54     s	38     s	43     s	96     s		337
Lega!Adw:rtlsing	$	106     s		s		s		47     s		77     s		s		s		s		$	127     s		s	3,419     s	3,775 Othtt Cum!ntCharges	s		s	265     I	121      s	121      s	120     s	121     s	296     s	42     s	57     s		41     s	42     I		6     s	1 ,231
OfficeSUpplles	s	0     s	lS     s	0     s	0    s	15     s	t     s	18     s	18     s	18     s	18     s	18     s	18     s	139
Property Appraiser Fee	I	s	s	s	s	152      s	s	s	I	s	s	I	s	152
Prop!rtyTaxes	I	I	8    s	I	s	s	s	I	s	s	I	I	s
Mttd.ngRoom	s	s	s	s	s	$	s	s	140      s	140      s	140      s	140      s	140  I	698
D11es, Llamsei & S11bsrcripUons	I	175     I	I	I	s	I	s	s	s	I	s
TotaJ.	AAdmlnka-• n	$	-$	1361   $	3.863  $	•.m  I	SM<   I	4"'"3   s	'	!	10,821     $	4-.S?.S $ 0111:1:al:IDDI and ll:lalDWIIDct:EIIIIDIBS
s	s	175
s	1	s	88'-'!!9

Utlllty•l!'lectrlc	s	s	s	959     $	11,394    s	9,609     $	9,878     $	9,988    s	10,041    s	10,441    s	10,481    s	10.413    s	8,687    s	91,892
UUllty • Water &Sewer	s	$	$	s	$	10,218     $	7,112     $	8,536    s	8,483    I	9,141    s	7,677     $	4,657    I	5,469     $	61,292
Landscape Maintenance	s	6,180    s	6,180    I	6,180    s	6,180    s	6,180    s	6,180     $	7,130    s	7,130    I	7,130    s	7,130     $	9,358    I	7,130    s	82,088
Landscape Enhancements	s		s		$		s		s		I	7,499    I	7,499   s	7,499   s	12,388    s		s	s		I	34,886 Landscape lrription	s	864     s	505     s	1,326    s	260     s	462     s		83     s		402    s		358     $		112     s	1,042    $	s	2,332    $		7,745
lawn Mowing/Trimming	s	I	2,200     $	s	I	I	2,200     $	s	2,200     s	2,200     s	2,200     s	2,200     s	I	13,200
Lakl: Maintenance	s	2,228     s	2,228     s	3.328     s	3,328     I	2,228     s	2,786      s	3.328     s	2,228     s	2,786     s	3,328     s	s	2,228     s	30,023

7

Rolling Oaks
Community Development District
LONG TERM DEBT REPORT

SERIES 201&. SPEOAL ASS£SSMENT BONDS		

INTEREST RATES:	
4.500%, 5.250%, 5.875%, 6.000%	
MATURITY DATE:	11/1/2047	
RESERVE FUND DEFINITION	MAXIMUM ANNUAL DEBT SERVICE	
RESERVE FUND REQUIREMENT	$1,124,706	
RESERVE FUND BALANCE	$1,124,763	
BONDS OUTSTANDING-12/15/16	$15,640,000	
LESS: PRINCIPAL PAYMENT 11/1/18	($220,000)	
LESS: PRINCIPAL PAYMENT 11/1/19	($230,000)	
LESS: PRINCIPAL PAYMENT 11/1/20	($240,000)	
CURRENT BONDS OUTSTANOING	$14,950,000	

.

8
Rolling Oaks
COMMUNITY DEVELOPMENT  DISTRICT
Special  Assessment Receipts
Fiscal Year 2021

	GrossAssessments	$	238,868.00	$ 1,074,735.38	$ 1,313,603.38	

ON ROLL ASSESSMENTS	NetAssessments	$	224,535.92

18 .18%	$ 1,010,251.26

81.82%	$ 1,234,787.18

100.00%	

TOTAL	l	1.;!13	3.H      s	MiWl3J   I	rn.w,an  I	$   .   ,   ,...	s   nzm:n  I   UZU7ua    I  t.tf.9MlQ.tt   .

DIRECT BILL ASSESSMENTS

Rolling Oaks Splendid, LLC							
1/25/21	12/1/20	196078	$507,375.00	$507,375.00	$57,375.00	$450,000.00	
4/1/21	2/1/21	196405	$253,687.50	$253,687.50	$28,687.50	$225,000.00	
5/ 18 / 21	5/ 1 / 21	196612	$253 ,68 7.50	$253,687.50	$28,687.50	$225,000.00	
			$1,014,750.00	S:l.,OH ,7S0,00	$U.c4,7SO,OO	s, 00 ,000 . 0 .0	

9
Rolling Oaks
Community Development District
Special Assessment Bonds, Series 201.6

Date	Requisi tion #	Contractnr	Des cription	Requisitions	
Fiscal Year 2020				
7/28/20	4	Rolling Oaks Splendid LLC	Aquisition & Construction Accounting	$	34,201.31	
		TOTAL	$	34,201.31	

Fiscal Year 2020				
10/1/19		Transfer In	$	15,330.67	
11/1/19		Interest	$	16.53	
12/1/19		Interest	$	31.90	
1/1/20		Interest	$	31.78	
2/1/20		Interest	$	31.16	
3/1/20		Interest	$	29.05	
4/1/20		Transfer In	$	9,228.11	
4/1/20		Interest	$	17.10	
5/1/20		Interest	$	4.81	
6/1/20		Interest	$	3.23	
7/1/20		Interest	$	2.07	
8/1/20		Interest	$	1.56	
9/1/20		Interest	$	0.18	
		TOTAL	$	24,728.15	
		
Acquisition/Construction Fund at 09/30/2019	
$	9,476.97	
		Interest Earned and Transfer In thru 09/30/20	$	24,728.15	
		Requisitions Paid thru 09/30/20	$ (34,201.31)	
		Remaining Acquisition/Construction Fund	$	3,81 	

Date	

Requisition #	

Contractor	Descri ption	

Requisi tions	
Fiscal Year 2021				
		TOTAL	$	

Fiscal Year 2021				
10/1/20		Transfer	$	1,213.57	
11/1/20		Interest	$	0.01	
12/1/20		Interest	$	0.01	
1/1/21		Interest	$	0.01	
2/1/21		Interest	$	0.01	
3/1/21		Interest	$	0.01	
4/1/21		Interest	$	0.01	
4/1/21		Transfer	$	55.80	
5/1/21		Interest	$	0.01	
6/1/21		Interest	$	0.01	
7/1/21		Interest	$	0.01	
8/1/21		Interest	$	0.01	
9/1/21		Interest	$	0.01	
		TOTAL	$	1,269.48	
		
Acquisition/Construction Fund at 09/30/2020	
$	3,81	
		Interest Earned and Transfer In thru 08/31/21	$	1,269.48	
		Requisitions Paid thru 08/31/21	$	
		Remaining Acquisition/Construction Fund	   $	1,273.29 	
		
10		
Rolling Oaks
Community Development District
Special Assessment Bonds, Series 2018

Dab!	R  ulsl tion #	Contractor	Description	R  uisltions Fiscal Year 2020
12/24/19	3	GMS-CFL	Construction Accounting	$	3,500.00

	 	TOTAL		$	3,500.00 	
Fiscal Year 2020			
10/1/19	Interest	$	3,715.40	
11/1/19	Interest	$	3,440.07	
12/1/19	Interest	$	2,92220	
1/1/20	Interest	$	2,91027	
2/1/20	Interest	$	2,850 .49	
3/1/20	Interest	$	2,656 .88	
4/1/20	Interest	$	1,563.69	
5/1/20	Interest	$	380.38	
6/1/20	Interest	$	216.02	
7/1/20	Interest	$	138.18	
8/1/20	Interest	$	107.74	
9/1/20	Interest	$	41.40	
	 	TOTAL		$	20,942.72 	
	Acquisition/Construction Fund at 09 /30/19	$ 2,266,893.76	
	ln11!rest Earned 09 /30 /2 0	$	20,942.72	
	Requisitions Paid thru 09/30/20	$	(3,500.00)	
	Remaining Acquisition/Construction Fund	$ 2,284,336.48	

Date	R	uisltion #	Contractor	Descrl 11tion	R uisl tions	
Fiscal Year 2021		
4	
GMS	
lnv#82 - Construction Accounting	
$	3,500.00	

	 	TOTAL		$	3,500.00 	
Fiscal Year 2021			
10/1/20	Interest	$	18.78	
11/1/20	Interest	$	19.40	
12/1/20	Interest	$	18.78	
1/1/21	Interest	$	19 .40	
2/1/21	Interest	$	19.40	
3/1/21	Interest	$	17.53	
4/1/21	Interest	$	19.38	
5/1/21	Interest	$	18.75	
6/1/21	Interest	$	19.37	
7/1/21	Interest	$	18.75	
8/1/21	Interest	$	1938	
9/1/21	Interest	$	1938	
	 	TOTAL		$	228.30 	
	Acquisition/Construction Fund at 09/30/20	$ 2,284,336.48	
	Interest Earned 08/31/21	$	228.30	
	Requisitions Paid thru 08/31/21	$	(3,500.00)	
	Remaining Acquisition/Construction Fund	$ 2,281,064.78 	

11