Rolling Oaks Community Development District
Agenda
September 28, 2023

Agenda

September 21, 2023
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, September 28, 2023, at 1:00 PM at Margaritaville Resort Orlando, 8000 Fins Up Circle, Kissimmee, Florida 34747.
Zoom Information for Members of the Public: Link: https://us06web.zoom.us/j/85744403825 Dial-in Number: (646) 876-9923
Meeting ID: 857 4440 3825

Following is the revised agenda for the meeting:
Audit Committee Meeting
Roll Call
Public Comment Period
Review of Proposals and Tally of Audit Committee Members Rankings
Grau & Associates
DiBartolomeo, McBee, Hartley & Barnes
Adjournment

Board of Supervisors Meeting
Roll Call
Public Comment Period
Approval of Minutes of the August 24, 2023 Audit Committee Meeting and Board of Supervisors Meeting
Acceptance of the Rankings of the Audit Committee and Authorizing Staff to Send a Notice of Intent to Award
Consideration of Resolution 2023-12 Authorizing the Filing of a Petition for Expansion of District Boundaries
Consideration of Boundary Amendment Funding Agreement - ADDED
Consideration of Resolution 2023-13 Electing an Assistant Secretary
Discussion of Issuance of RFP for Landscape Maintenance Services
Staff Reports
Attorney
Engineer
District Manager’s Report
Approval of Check Register
Balance Sheet and Income Statement
Supervisor’s Requests
Next Meeting Date – October 26, 2023

Adjournment
Sincerely,
Tricia Adams
Tricia Adams District Manager

Audit Committee Meeting

Section III

Section A

Proposal to Provide
Financial Auditing Services:
ROLLING OAKS
COMMUNITY DEVELOPMENT DISTRICT

Proposal Due: September 21, 2023 5:00PM

Submitted to:
Rolling Oaks
Community Development District c/o District Manager
219 East Livingston Street Orlando, FL 32801

Submitted by:
Antonio J. Grau, Partner Grau & Associates
951 Yamato Road, Suite 280 Boca Raton, Florida 33431 Tel	(561) 994-9299
(800) 229-4728
Fax	(561) 994-5823
tgrau@graucpa.com www.graucpa.com

Table of Contents	Page
EXECUTIVE SUMMARY / TRANSMITTAL LETTER	1
FIRM QUALIFICATIONS	3
FIRM & STAFF EXPERIENCE	6
REFERENCES	11
SPECIFIC AUDIT APPROACH	13
COST OF SERVICES	17
SUPPLEMENTAL INFORMATION	19

September 21, 2023

Rolling Oaks Community Development District c/o District Manager
219 East Livingston Street Orlando, FL 32801

Re:	Request for Proposal for Professional Auditing Services for the fiscal year ended September 30, 2023, with an option for four (4) additional annual renewals.

Grau & Associates (Grau) welcomes the opportunity to respond to the Rolling Oaks Community Development District’s (the “District”) Request for Proposal (RFP), and we look forward to working with you on your audit. We are an energetic and robust team of knowledgeable professionals and are a recognized leader of providing services to Community Development Districts. As one of Florida’s few firms to primarily focus on government, we are especially equipped to provide you an effective and efficient audit.

Special district audits are at the core of our practice: we have a total of 360 clients, 329 or 91% of which are special districts. We know the specifics of the professional services and work products needed to meet your RFP requirements like no other firm. With this level of experience, we are able to increase efficiency, to provide immediate and continued savings, and to minimize disturbances to client operations.

Why Grau & Associates:

Knowledgeable Audit Team
Grau is proud that the personnel we assign to your audit are some of the most seasoned auditors in the field. Our staff performs governmental engagements year round. When not working on your audit, your team is refining their audit approach for next year’s audit. Our engagement partners have decades of experience and take a hands-on approach to our assignments, which all ensures a smoother process for you.

Servicing your Individual Needs
Our clients enjoy personalized service designed to satisfy their unique needs and requirements. Throughout the process of our audit, you will find that we welcome working with you to resolve any issues as swiftly and easily as possible. In addition, due to Grau’s very low turnover rate for our industry, you also won’t have to worry about retraining your auditors from year to year.

Developing Relationships
We strive to foster mutually beneficial relationships with our clients. We stay in touch year round, updating, collaborating and assisting you in implementing new legislation, rules and standards that affect your organization. We are also available as a sounding board and assist with technical questions.

Maintaining an Impeccable Reputation
We have never been involved in any litigation, proceeding or received any disciplinary action. Additionally, we have never been charged with, or convicted of, a public entity crime of any sort. We are financially stable and have never been involved in any bankruptcy proceedings.
Complying With Standards
Our audit will follow the Auditing Standards of the AICPA, Generally Accepted Government Auditing Standards, issued by the Comptroller General of the United States, and the Rules of the Auditor General of the State of Florida, and any other applicable federal, state and local regulations. We will deliver our reports in accordance with your requirements.

This proposal is a firm and irrevocable offer for 90 days. We certify this proposal is made without previous understanding, agreement or connection either with any previous firms or corporations offering a proposal for the same items. We also certify our proposal is in all respects fair, without outside control, collusion, fraud, or otherwise illegal action, and was prepared in good faith. Only the person(s), company or parties interested in the project as principals are named in the proposal. Grau has no existing or potential conflicts, and anticipates no conflicts during the engagement. Our Federal I.D. number is 20-2067322.

We would be happy to answer any questions or to provide any additional information. We are genuinely excited about the prospect of serving you and establishing a long-term relationship. Please do not hesitate to call or email either of our Partners, Antonio J. Grau, CPA (tgrau@graucpa.com) or Racquel McIntosh, CPA (rmcintosh@graucpa.com) at 561.994.9299. We thank you for considering our firm’s qualifications and experience.

Very truly yours, Grau & Associates
Antonio J. Grau

Firm Qualifications

Grau’s Focus and Experience

3
Partners

10
Professional Staff

2
Administrative Professionals
9/13
Employees are CPAS

Year founded

Services Provided

297
Community Development Districts Served

Properly registered and
licensed professional corporation by the state of FLORIDA

We are proud Members of the American Institute of Certified Public Accountants
&
the Florida Institute of Certified Public Accountants

See next page for report and certificate
⇒ External quality review program: consistently receives a pass
⇒ Internal: ongoing monitoring to maintain quality

AICPA | FICPA | GFOA | FASD | FGFOA

Firm & Staff Experience

Profile Briefs:

Antonio J GRAU, CPA (Partner)
Years Performing Audits: 30+
CPE (last 2 years): Government Accounting, Auditing: 24 hours; Accounting, Auditing and Other: 56 hours
Professional Memberships: AICPA, FICPA, FGFOA, GFOA

Racquel McIntosh, CPA (Partner)
Years Performing Audits: 14+
CPE (last 2 years): Government Accounting, Auditing: 47 hours; Accounting, Auditing and Other: 58 hours
Professional Memberships: AICPA, FICPA, FGFOA, FASD

YOUR ENGAGEMENT TEAM

Grau’s client-specific engagement team is meticulously organized in order to meet the unique needs of each client. Constant communication within our solution team allows for continuity of staff and audit team.

Grau contracts with an outside group of IT management consultants to assist with matters including, but not limited to; network and database security, internet security and vulnerability testing.
An advisory consultant will be available as a sounding board to advise in those areas where problems are encountered.

The assigned personnel will work closely with the partner and the District to ensure that the financial statements and all other reports are prepared in accordance with professional standards and firm policy.
Responsibilities will include planning the audit; communicating with the client and the partners the progress of the audit; and
determining that financial statements and all reports issued by the firm are accurate, complete and are prepared in accordance with professional standards and firm policy.

The Engagement Partner will participate extensively during the various stages of the engagement and has direct responsibility for engagement policy, direction, supervision, quality control, security, confidentiality of information of the engagement and communication with client personnel. The engagement partner will also be involved directing the development of the overall audit approach and plan; performing an overriding review of work papers and ascertain client satisfaction.
Contact: tgrau@graucpa.com | (561) 939-6672
Experience
For over 30 years, Tony has been providing audit, accounting and consulting services to the firm’s governmental, non-profit, employee benefit, overhead and arbitrage clients. He provides guidance to clients regarding complex accounting issues, internal controls and operations.
As a member of the Government Finance Officers Association Special Review Committee, Tony participated in the review process for awarding the GFOA Certificate of Achievement in Financial Reporting. Tony was also the review team leader for the Quality Review of the Office of Management Audits of School Board of Miami-Dade County. Tony received the AICPA advanced level certificate for governmental single audits.

Education
University of South Florida (1983) Bachelor of Arts
Business Administration

Clients Served (partial list)

(>300) Various Special Districts, including:		
Bayside Improvement Community Development District Dunes Community Development District
Fishhawk Community Development District (I,II,IV) Grand Bay at Doral Community Development District Heritage Harbor North Community Development District	St. Lucie West Services District
Ave Maria Stewardship Community District Rivers Edge II Community Development District Bartram Park Community Development District
Bay Laurel Center Community Development District	
Boca Raton Airport Authority Greater Naples Fire Rescue District
Key Largo Wastewater Treatment District Lake Worth Drainage District
South Indian River Water Control		

Professional Associations/Memberships
American Institute of Certified Public Accountants Florida Government Finance Officers Association Florida Institute of Certified Public Accountants  Government Finance Officers Association Member City of Boca Raton Financial Advisory Board Member

Professional Education (over the last two years)
Course	Hours
Government Accounting and Auditing	24
Accounting, Auditing and Other	56
Total Hours	80 (includes of 4 hours of Ethics CPE)
Contact : rmcintosh@graucpa.com | (561) 939-6669
Experience
Racquel has been providing government audit, accounting and advisory services to our clients for over 14 years. She serves as the firm’s quality control partner; in this capacity she closely monitors engagement quality ensuring standards are followed and maintained throughout the audit.
Racquel develops in-house training seminars on current government auditing, accounting, and legislative topics and also provides seminars for various government organizations. In addition, she assists clients with implementing new accounting software, legislation, and standards.

Education
Florida Atlantic University (2004) Master of Accounting
Florida Atlantic University (2003) Bachelor of Arts:
Finance, Accounting

Clients Served (partial list)

(>300) Various Special Districts, including:		
Carlton Lakes Community Development District Golden Lakes Community Development District Rivercrest Community Development District South Fork III Community Development District TPOST Community Development District	Westchase Community Development District Monterra Community Development District
Palm Coast Park Community Development District Long Leaf Community Development District Watergrass Community Development District	
East Central Regional Wastewater Treatment Facilities Indian Trail Improvement District
Pinellas Park Water Management District Ranger Drainage District
South Trail Fire Protection and Rescue Service District		

Professional Associations/ Memberships

American Institute of Certified Public Accountants	FICPA State & Local Government Committee	
Florida Institute of Certified Public Accountants	FGFOA Palm Beach Chapter	

Professional Education (over the last two years)
Course	Hours
Government Accounting and Auditing	47
Accounting, Auditing and Other	58
Total Hours	105 (includes of 4 hours of Ethics CPE)

References

We have included three references of government engagements that require compliance with laws and regulations, follow fund accounting, and have financing requirements, which we believe are similar to the District.

 Dunes Community Development District			
Scope of Work	Financial audit	
Engagement Partner	Antonio J. Grau	
Dates	Annually since 1998	
Client Contact	Darrin Mossing, Finance Director 475 W. Town Place, Suite 114
St. Augustine, Florida 32092
                    904-940-5850		

 Two Creeks Community Development District			
Scope of Work	Financial audit	
Engagement Partner	Antonio J. Grau	
Dates	Annually since 2007	
Client Contact	William Rizzetta, President 3434 Colwell Avenue, Suite 200
Tampa, Florida 33614
                  813-933-5571		

 Journey’s End Community Development District			
Scope of Work	Financial audit	
Engagement Partner	Antonio J. Grau	
Dates	Annually since 2004	
Client Contact	Todd Wodraska, Vice President 2501 A Burns Road
Palm Beach Gardens, Florida 33410
                  561-630-4922		

Specific Audit Approach

AUDIT APPROACH
Grau’s Understanding of Work Product / Scope of Services:
We recognize the District is an important entity and we are confident our firm is eminently qualified to meet the challenges of this engagement and deliver quality audit services. You would be a valued client of our firm and we pledge to commit all firm resources to provide the level and quality of services (as described below) which not only meet the requirements set forth in the RFP but will exceed those expectations. Grau & Associates fully understands the scope of professional services and work products requested. Our audit will follow the Auditing Standards of the AICPA, Generally Accepted Government Auditing Standards, issued by the Comptroller General of the United States, and the Rules of the Auditor General of the State of Florida and any other applicable Federal, State of Local regulations. We will deliver our reports in accordance with your requirements.

Proposed segmentation of the engagement
Our approach to the audit engagement is a risk-based approach which integrates the best of traditional auditing techniques and a total systems concept to enable the team to conduct a more efficient and effective audit. The audit will be conducted in three phases, which are as follows:

PHASE I:
Preliminary Planning
PHASE II:
Execution of the Audit Plan
PHASE III:
Completion and Delivery

Phase I - Preliminary Planning
A thorough understanding of your organization, service objectives and operating environment is essential for the development of an audit plan and for an efficient, cost-effective audit. During this phase, we will meet with appropriate personnel to obtain and document our understanding of your operations and service objectives and, at the same time, give you the opportunity to express your expectations with respect to the services that we will provide. Our work effort will be coordinated so that there will be minimal disruption to your staff.

During this phase we will perform the following activities:
» Review the regulatory, statutory and compliance requirements. This will include a review of applicable federal and state statutes, resolutions, bond documents, contracts, and other agreements;
» Read minutes of meetings;
» Review major sources of information such as budgets, organization charts, procedures, manuals, financial systems, and management information systems;
» Obtain an understanding of fraud detection and prevention systems;
» Obtain and document an understanding of internal control, including knowledge about the design of relevant policies, procedures, and records, and whether they have been placed in operation;
» Assess risk and determine what controls we are to rely upon and what tests we are going to perform and perform test of controls;
» Develop audit programs to incorporate the consideration of financial statement assertions, specific audit objectives, and appropriate audit procedures to achieve the specified objectives;
» Discuss and resolve any accounting, auditing and reporting matters which have been identified.
Phase II – Execution of Audit Plan
The audit team will complete a major portion of transaction testing and audit requirements during this phase. The procedures performed during this period will enable us to identify any matter that may impact the completion of our work or require the attention of management. Tasks to be performed in Phase II include, but are not limited to the following:
» Apply analytical procedures to further assist in the determination of the nature, timing, and extent of auditing procedures used to obtain evidential matter for specific account balances or classes of transactions;
» Perform tests of account balances and transactions through sampling, vouching, confirmation and other analytical procedures; and
»  Perform tests of compliance.
Phase III - Completion and Delivery

In this phase of the audit, we will complete the tasks related to year-end balances and financial reporting. All reports will be reviewed with management before issuance, and the partners will be available to meet and discuss our report and address any questions. Tasks to be performed in Phase III include, but are not limited to the following:

» Perform final analytical procedures;
»  Review information and make inquiries for subsequent events; and
» Meeting with Management to discuss preparation of draft financial statements and any potential findings or recommendations.

You should expect more from your accounting firm than a signature in your annual financial report. Our concept of truly responsive professional service emphasizes taking an active interest in the issues of concern to our clients and serving as an effective resource in dealing with those issues. In following this approach, we not only audit financial information with hindsight but also consider the foresight you apply in managing operations.

Application of this approach in developing our management letter is particularly important given the increasing financial pressures and public scrutiny facing today’s public officials. We will prepare the management letter at the completion of our final procedures.

In preparing this management letter, we will initially review any draft comments or recommendations with management. In addition, we will take necessary steps to ensure that matters are communicated to those charged with governance.

In addition to communicating any recommendations, we will also communicate the following, if any:

» Significant audit adjustments;
» Significant deficiencies or material weaknesses;
» Disagreements with management; and
»  Difficulties encountered in performing the audit.
Our findings will contain a statement of condition describing the situation and the area that needs strengthening, what should be corrected and why. Our suggestions will withstand the basic tests of corrective action:

To assure full agreement with facts and circumstances, we will fully discuss each item with Management prior to the final exit conference. This policy means there will be no “surprises” in the management letter and fosters a professional, cooperative atmosphere.

Communications
We emphasize a continuous, year-round dialogue between the District and our management team. We regularly communicate through personal telephone calls and electronic mail throughout the audit and on a regular basis.
Our clients have the ability to transmit information to us on our secure client portal with the ability to assign different staff with separate log on and viewing capability. This further facilitates efficiency as all assigned users receive electronic mail notification as soon as new information has been posted into the portal.

Cost of Services

Our proposed all-inclusive fees for the financial audit for the fiscal years ended September 30, 2023-2027 are as follows:

  Year Ended September 30,			Fee		
2023	$4,800	
2024	$4,900	
2025	$5,000	
2026	$5,100	
2027	$5,200	
TOTAL (2023-2027)	$25,000	

The above fees are based on the assumption that the District maintains its current level of operations. Should conditions change or Bonds are issued the fees would be adjusted accordingly upon approval from all parties concerned.

Supplemental Information

	Governmental Audit	Single Audit	Utility Audit	
Current Client	
Year End	
Boca Raton Airport Authority					9/30	
Captain's Key Dependent District					9/30	
Central Broward Water Control District					9/30	
Collier Mosquito Control District					9/30	
Coquina Water Control District					9/30	
East Central Regional Wastewater Treatment Facility					9/30	
Florida Green Finance Authority					9/30	
Greater Boca Raton Beach and Park District					9/30	
Greater Naples Fire Control and Rescue District					9/30	
Green Corridor P.A.C.E. District					9/30	
Hobe-St. Lucie Conservancy District					9/30	
Indian River Mosquito Control District					9/30	
Indian Trail Improvement District					9/30	
Key Largo Wastewater Treatment District					9/30	
Lake Padgett Estates Independent District					9/30	
Lake Worth Drainage District					9/30	
Lealman Special Fire Control District					9/30	
Loxahatchee Groves Water Control District					9/30	
Old Plantation Control District					9/30	
Pal Mar Water Control District					9/30	
Pinellas Park Water Management District					9/30	
Pine Tree Water Control District (Broward)					9/30	
Pinetree Water Control District (Wellington)					9/30	
Ranger Drainage District					9/30	
Renaissance Improvement District					9/30	
San Carlos Park Fire Protection and Rescue Service District					9/30	
Sanibel Fire and Rescue District					9/30	
South Central Regional Wastewater Treatment and Disposal Board					9/30	
South-Dade Venture Development District					9/30	
South Indian River Water Control District					9/30	
South Trail Fire Protection & Rescue District					9/30	
Spring Lake Improvement District					9/30	
St. Lucie West Services District					9/30	
Sunshine Water Control District					9/30	
West Villages Improvement District					9/30	
Various Community Development Districts (297)					9/30	
TOTAL	333	5	3	328		

CONSULTING / MANAGEMENT ADVISORY SERVICES

Grau & Associates also provide a broad range of other management consulting services. Our expertise has been consistently utilized by Governmental and Non-Profit entities throughout Florida. Examples of engagements performed are as follows:

Accounting systems
Development of budgets
Organizational structures
Financing alternatives
IT Auditing	Fixed asset records
Cost reimbursement
Indirect cost allocation
Grant administration and compliance	

ARBITRAGE

The federal government has imposed complex rules to restrict the use of tax-exempt financing. Their principal purpose is to eliminate any significant arbitrage incentives in a tax-exempt issue. We have determined the applicability of these requirements and performed the rebate calculations for more than 150 bond issues, including both fixed and variable rate bonds.

Current Arbitrage Calculations

We look forward to providing Rolling Oaks Community Development District with our resources and experience to accomplish not only those minimum requirements set forth in your Request for Proposal, but to exceed those expectations!

For even more information on Grau & Associates please visit us on www.graucpa.com.

Section B

Rolling Oaks Community Development District

DiBartolomeo, McBee, Hartley & Barnes, P.A. Certified Public Accountants
2222 Colonial Road, Suite 200 Fort Pierce, Florida 34950 (772) 461-8833
591 SE Port St. Lucie Boulevard Port Saint Lucie, Florida 34984 (772) 878-1952

Contact:

Jim Hartley, CPA Principal
TABLE OF CONTENTS

Letter of Transmittal Professional Qualifications
Professional Staff Resources	1-2
Current and Near Future Workload	2
Identification of Audit Team	2
Resumes	3-5
Governmental Audit Experience	6
Additional Data
Procedures for Ensuring Quality Control & Confidentiality	7
Independence	7-8
Computer Auditing Capabilities	8
Contracts of Similar Nature	9
Technical Approach
Agreement to Meet or Exceed the Performance Specifications	10
Tentative Audit Schedule	11
Description of Audit Approach	12-15
Proposed Audit Fee	16
DMHB	DIBARTOLOMEO, MCBEE, HARTLEY & BARNES, P.A.
CERTIFIED PUBLIC ACCOUNTANTS	

Rolling Oaks
Community Development District Audit Selection Committee

Dear Committee Members:

We are pleased to have this opportunity to present the qualifications of DiBartolomeo, McBee, Hartley & Barnes, P.A. (DMHB) to serve as Rolling Oaks Community Development District’s independent auditors. The audit is a significant engagement demanding various professional resources, governmental knowledge and expertise, and, most importantly, experience serving Florida local governments. DMHB understands the services required and is committed to performing these services within the required time frame. We have the staff available to complete this engagement in a timely fashion. We audit several entities across the State making it feasible to schedule and provide services at the required locations.
Proven Track Record— Our clients know our people and the quality of our work. We have always been responsive, met deadlines, and been willing to go the extra mile with the objective of providing significant value to mitigate the cost of the audit. This proven track record of successfully working together to serve governmental clients will enhance the quality of services we provide.
Experience—DMHB has a history of providing quality professional services to an impressive list of public sector clients in Florida. We currently serve a large number of public sector entities in Florida, including cities, villages, special districts, as well as a large number of community development districts. Our firm has performed in excess of 100 community development district audits. In addition, our senior management team members have between 25 and 35 years experience in serving Florida governments. DMHB is a recognized leader in providing services to governmental and non-profit agencies within the State of Florida. Through our experience in performing audits, we have been able to increase our audit efficiency and therefore reduce cost. We have continually passed this cost saving on to our clients and will continue to do so in the future. As a result of our experience and expertise, we have developed an effective and efficient audit approach designed to meet or exceed the performance specifications in accordance with audit standards generally accepted in the United States of America, the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States with minimal disruption to your operations. Our firm has frequent technical updates to keep our personnel informed and up to date on all changes that are occurring within the industry.

2222 Colonial Road, Suite 200• Fort Pierce, Florida 34950•772-461-8833 • Fax: 772-461-8872 591 S.E. Port St. Lucie Blvd., •Port St. Lucie, Florida 34984•772-878-1952•Fax: 772-878-1709
Member AICPA	Member AICPA Division for CPA Firms	Member AICPA Private Company Practice Section
WWW.DMHBCPA.NET

Timeliness – In order to meet the Districts needs, we will perform interim internal control testing by January 31st from unaudited preliminary general ledgers provided. The remaining testing will be completed no later than May 1st. We will also review all minutes and subsequent needs related to the review of the minutes by January 31st. Follow up review will be completed as necessary.

Communication and Knowledge Sharing— Another driving force behind our service approach is frequent, candid and open communication with management with no surprises. During the course of the audit, we will communicate with management on a regular basis to provide you with a status report on the audit and to discuss any issues that arise, potential management letter comments, or potential audit differences.

In the accompanying proposal, you will find additional information upon which you can evaluate DMHB’s qualifications. Our full team is in place and waiting to serve you. Please contact us at 2222 Colonial Road, Suite 200 Fort Pierce, FL 34950. Our phone number is (772) 461-8833. We look forward to further discussion on how our team can work together with you.

Very truly yours,

DiBartolomeo, McBee, Hartley & Barnes, P.A.
Jay L. McBee
Partner – DiBartolomeo, McBee, Hartley & Barnes

Experience and Training

Jay has over 45 years of public accounting experience and would serve as the technical reviewer on the audit. His experience and training include:

45 years of government experience.
Specializing in serving local government entities.
Has performed audits and advisory services for a variety of public sector entities including counties, cities, special districts, and school districts.
Has experience performing audits of federal grant recipients in accordance with the Single Audit Act and the related Office of Management and Budget (OMB) guidelines, including Circular A-133 and the
Rules of the Auditor General.
Has extensive experience in performing pension audits.
Experienced in developing and maintaining the GFOA Certificate of Achievement.
120 Hours of relevant government CPE credits over the past 3 years.
Experience in municipal bond and other governmental-financing options and offerings.
Recent Engagements

Has provided auditing services on local governmental entities including towns, villages, cities, counties, special district and community development districts. Jay has assisted with financial preparation, system implementation, and a variety of government services to a wide range of governmental entities. Jay currently provides auditing services to the City of Port St. Lucie, City of Okeechobee Pension Trust Funds, St. Lucie County Fire District Pension funds, along with several other non-profit and governmental entities.

Education and Registrations

Bachelor of Science in Accounting and Quantitative Business Management – West Virginia University.
Certified Public Accountant
Professional Affiliations

Member of the American Institute of Certified Public Accountants
Member of the Florida Institute of Certified Public Accountants
Member of the Florida Government Finance Officers Association
Volunteer Service

Member of the St. Lucie County Citizens Budget Committee
Finance committee for the First United Methodist Church
Treasurer of Boys & Girls Club of St. Lucie County

Christine M. Kenny, CPA
Senior Staff – DiBartolomeo, McBee, Hartley & Barnes
Experience and training
Christine has over 18 years of public accounting experience and would serve as a senior staff for the Constitutional Officers. Her experience and training include:

18 years of manager and audit experience.
Has performed audits and advisory services for a variety of public sector entities including counties, cities, towns and special districts.
Has experience performing audits of federal grant recipients in accordance with the Single Audit Act and the related Office of Management and Budget (OMB) guidelines, including Circular A-133 and the Rules of the Auditor General.
100 hours of relevant government CPE credits over the past 3 years.

Recent Engagements

Has provided audit services on governmental entities including towns, villages, cities and special districts. Christine has assisted with financial statement preparation, system implementation, and a variety of services to a wide range of non-profit and governmental entities. Christine currently provides services to multiple agencies to assist in implementing and maintaining “best practice” accounting policies and procedures.
Engagements include St. Lucie County Fire District, City of Fort Pierce, Town of Sewall’s Point, and Town of St. Lucie Village.

Education and Registrations

Bachelor of Science in Accounting – Florida State University
Professional Affiliations
Active Member of the Florida Institute of Certified Public Accountants
Active Member of the American Institute of Certified Public Accountants
Member of the Florida Government Finance Officers Association
PROFESSIONAL QUALIFICATIONS (CONTINUED)

Governmental Audit Experience

DiBartolomeo, McBee, Hartley & Barnes, P.A., through its principals and members, has provided continuous in-depth professional accounting, auditing, and consulting services to local government units, nonprofit organizations, and commercial clients. Our professionals have developed considerable expertise in performing governmental audits and single audits and in preparing governmental financial statements in conformance with continually evolving GASB pronouncements, statements, and interpretations. All of the public sector entities we serve annually are required to be in accordance with GASB pronouncements and government auditing standards. We currently perform several Federal and State single audits in compliance with OMB Circular A- 133 and under the Florida Single Audit Act. Our professionals are also experienced in assisting their clients with preparing Comprehensive Annual Financial Reports (GFOA).

All work performed by our firm is closely supervised by experienced certified public accountants. Only our most seasoned CPA’s perform consulting services. Some of the professional accounting, auditing, and management consulting services currently provided to our local governmental clients include:

Annual financial and compliance audits including Single Audits of State and Federal financial assistance programs under OMB A-133 audit criteria and the Florida Single Audit Act
Assisting in compiling historical financial data for first-time and supplemental submissions for GFOA Certificate of Achievement of Excellence in Financial Reporting
Audits of franchise fees received from outside franchisees
Assistance with Implementation of GASB-34
Internal audit functions
Fixed assets review and updating cost/depreciation allocations and methods
ADDITIONAL DATA

Procedures for Ensuring Quality Control & Confidentiality

Quality control in any CPA firm can never be taken for granted. It requires a continuing commitment to professional excellence. DiBartolomeo, McBee, Hartley & Barnes is formally dedicated to that commitment.

In an effort to continue to maintain the standards of working excellence required by our firm, DiBartolomeo, McBee, Hartley & Barnes, P.A. joined the Quality Review Program of the American Institute of Certified Public Accountants. To be a participating member firm, a firm must obtain an independent compliance review of its quality control policies and procedures to ascertain the firm’s compliance with existing auditing standards on the applicable engagements. The scope of peer review is comprehensive in that it specifically reviews the following quality control policies and procedures of the participating firm:

Professional, economic, and administrative independence
Assignment of professional personnel to engagements
Consultation on technical matters
Supervision of engagement personnel
Hiring and employment of personnel
Professional development
Advancement
Acceptance and continuance of clients
Inspection and review system

Independence

Independence is a hallmark of our profession. We encourage our staff to use professional judgment in situations where our independence could be impaired or the perception of a conflict of interest might exist. In the governmental sector, public perception is as important as professional standards. Therefore, independent auditors must exercise utmost care in the performance of their duties.

Our firm has provided continuous certified public accounting services in the government sector for 31 years, and we are independent of the Community Development Districts as defined by the following rules, regulations, and standards:
ADDITIONAL DATA (CONTINUED)

Independence (Continued)

Au Section 220 – Statements on Auditing Standards issued by the American Institute of Certified Public Accountants
ET Sections 101 and 102 – Code of Professional Conduct of the American Institute of Certified Public Accountants
Chapter 21A-21, Florida Administrative Code
Section 473.315, Florida Statutes
Government Auditing Standards, issued by the Comptroller General of the United States

Computer Auditing Capabilities

DiBartolomeo, McBee, Hartley & Barnes’ strong computer capabilities as demonstrated by our progressive approach to computer auditing and extensive use of microcomputers. Jay McBee is the MIS partner for DMHB. Jay has extensive experience in auditing and evaluating various computer systems and would provide these services in this engagement.

We view the computer operation as an integral part of its accounting systems. We would evaluate the computer control environment to:

Understand the computer control environment’s effect on internal controls
Conclude on whether aspects of the environment require special audit attention
Make preliminary determination of comments for inclusion in our management letter

This evaluation includes:

System hardware and software
Organization and administration
Access

Contracts of Similar Nature within References

Client	
Years	Annual Audit In Accordance With GAAS	
Engagement Partner	
Incl. Utility Audit/ Consulting	
GFOA
Cert.	
GASB 34
Implementation & Assistance	
Total Hours	
St. Lucie County Fire District Karen Russell, Clerk-Treasurer (772)462-2300	1984 -
Current	√	
Jim Hartley			√	
250-300	
City of Fort Pierce
Johnna Morris, Finance Director (772)-460-2200	2005-
current	√	
Mark Barnes		√	√	
800	
Fort Pierce Utilities Authority Nina Hurtubise, Finance Director (772)-466-1600	2005-
current	
√	
Jim Hartley	
√	
√	
√	
600	
Town of St. Lucie Village
Diane Robertson, Town Clerk (772) 595-0663	
1999 –
current	√	
Jim Hartley			√	
100	
City of Okeechobee Pension Trust Funds
Marita Rice, Supervisor of Finance (863)763-9460	
1998 –
current	
√	
Jay McBee				
60	
St. Lucie County Fire District 175 Pension Trust Fund
Chris Bushman , Captain (772) 462-2300	
1990 –
current	
√	
Jay McBee				
60	
Tradition Community Development District 1-10
Alan Mishlove,District Finance Manager
(407)382-3256	
2002 -
current	
√	

Jim Hartley			
√	

350	
Legends Bay Community Development District Patricia Comings-Thibault
(321)263-0132	2013-
current	
√	
Jim Hartley				
50	
Union Park Community Development District Patricia Comings-Thibault
(321)263-0132	2013-
current	
√	
Jim Hartley				
50	
Deer Island Community Development District Patricia Comings-Thibault (321)263-0132	2013-
current	
√	
Jim Hartley				
50	
Park Creek Community Development District Patricia Comings-Thibault (321)263-0132	2013-
current	
√	
Jim Hartley				
50	
Waterleaf Community Development District Patricia Comings-Thibault (321)263-0132	2013-
current	
√	
Jim Hartley				
50	
TECHNICAL APPROACH
An Express Agreement to Meet or Exceed the Performance Specifications.
The audit will be conducted in compliance with the following requirements:

Rules of the Auditor General for form and content of governmental audits
Regulations of the State Department of Banking and Finance
Audits of State and Local Governmental Units-American Institute of Certified Public Accountants.
The audit report shall contain the opinion of the auditor in reference to all financial statements, and an opinion reflecting compliance with applicable legal provisions.
We will also provide the required copies of the audit report, the management letter, any related reports on internal control weaknesses and one copy of the adjusting journal entries and financial work papers.
The auditor shall, at no additional charge, make all related work papers available to any Federal or State agency upon request in accordance with Federal and State Laws and Regulations.
We will work in cooperation with the District, its underwriters and bond council in regard to any bond issues that may occur during the term of the contract.
The financial statements shall be prepared in conformity with Governmental Accounting Standards Board Statement Number 34, 63 and 65.

We will commit to issuing the audit for each Fiscal year by June 1st of the following year. In order to ensure this we will perform interim internal control testing as required by January 31st from unaudited preliminary general ledgers provided. The remaining testing will be completed no later than May 1st. We will also review all minutes and subsequent needs related to the review of the minutes by January 30th. Follow up review will be completed as necessary.
b. A Tentative Schedule for Performing the Key phases of the Audit
Audit Phase and Tasks

Planning Phase:
Meetings and discussions with Rolling Oaks Community Development District personnel regarding operating, accounting and reporting matters
Discuss management expectations, strategies and objectives
Review operations Develop engagement plan
Study and evaluate internal controls Conduct preliminary analytical review
Detailed Audit Phase:
Conduct final risk assessment Finalize audit approach plan
Perform	substantive	tests	of	account
balances
Perform	single	audit	procedures	(if applicable)
Perform statutory compliance testing
Closing Phase:
Review subsequent events, contingencies and commitments
Complete	audit	work	and	obtain management representations
Review proposed audit adjustments with client
Reporting Phase:
Review		or	assist	in		preparation	of financial			statement	 for		Rolling	 Oaks Community Development District Prepare	management	letter	and	other special reports
Exit conference with Rolling Oaks Community Development District officials and management
Delivery of final reports
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
SPECIFIC AUDIT APPROACH
Our partners are not strangers who show up for an entrance conference and an exit conference. We have developed an audit plan that allows the partners to directly supervise our staff in the field. By assigning two partners to the audit, we will have a partner on-site for a significant portion of the fieldwork. This also gives the District an additional contact individual for questions or problems that may arise during the audit.

The scope of our services will include a financial, as well as, a compliance audit of the District’s financial statements. Our audit will be conducted in accordance with auditing standards generally accepted in the United States and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Additionally, our audit will be conducted in accordance with the provisions of Chapter 10.550, Rules of the Auditor General, which govern the conduct of local government entity audits performed in the State of Florida.

Our audit approach places emphasis on the accounting information system and how the data is recorded, rather than solely on the verification of numbers on a financial statement. This approach enables us to:

Maximize our understanding of the District’s operating environment
Minimize time required conducting the audit since we start with broad considerations and narrow to specific audit objectives in critical areas

Our audit approach consists of four phases encompassing our audit process:

Planning Phase
Detailed Audit Phase
Closing Phase
Reporting

Planning Phase
Meetings and Expectations:
Our first step in this phase will be to set up a planning meeting with the financial and operating management of Rolling Oaks Community Development District. Our goal here is to eliminate “surprises.” By meeting with responsible officials early on we can discuss significant accounting policies, closing procedures and timetables, planned timing of our audit procedures and expectations of our work. This will also be the starting point for our discussions with management related to SAS No. 99-Consideration of Fraud in a Financial Statement Audit. Inquiries will be made regarding managements knowledge of fraud and on management’s views regarding the risk of fraud.
Review Operations and Develop Engagement Plan
It is critical that we understand the District’s operating environment. To do this we will obtain and review such items as, organizational charts, recent financial statements, budget information, major contracts and lease agreements. We will also gather other information necessary to increase our understanding of the District’s operations, organization, and internal control.

Study and Evaluate Internal Control
As part of general planning, we will obtain an understanding and assessment of the District’s control environment. This assessment involves a review of management’s operating style, written internal control procedures, and the District’s accounting system. The assessment is necessary to determine if we can rely on control procedures and thus reduce the extent of substantive testing.

We then test compliance with established control procedures by ascertaining that the significant strengths within the system are functioning as described to us. Generally, transactions are selected and reviewed in sufficient detail to permit us to formulate conclusions regarding compliance with control procedures and the extent of operation compliance with pertinent laws and regulations. This involves gaining an understanding of the District’s procedures, laws and regulations, and testing systems for compliance by examining contracts, invoices, bid procedures, and other documents. After testing controls, we then evaluate the results of those tests and decide whether we can rely on controls and thus reduce other audit procedures.

Conduct Preliminary Analytical Review
Also during the planning stage, we undertake analytical procedures that aid us in focusing our energies in the right direction. We call these analytical reviews.

A properly designed analytical review can be a very effective audit procedure in audits of governmental units. Analytical reviews consist of more than just a comparison of current-year actual results to prior-year actual results. Very effective analytical review techniques include trend analysis covering a number of years and comparisons of information not maintained totally within the financial accounting system, such as per capita information, prevailing market interest rates, housing statistics, etc.

Some examples of effective analytical reviews performed together and/or individually include:

Comparison of current-year actual results with current-year budget for the current and past years with investigation of significant differences and/or trends
Trend analysis of the percentage of current-year revenues to current-year rates for the current and previous years with investigation of significant changes in the collection percentage
Trend analysis of the percentage of expenditures by function for the current and previous years with investigation of significant changes in percentages by department
Monthly analysis of receipts compared to prior years to detect trends that may have audit implications

Conclusions reached enable us to determine the nature, timing and extent of other substantive procedures.
Detailed Audit Phase

Conduct Final Risk Assessment and Prepare Audit Programs
Risk assessment requires evaluating the likelihood of errors occurring that could have a material affect on the financial statements being audited. The conclusions we reach are based on many evaluations of internal control, systems, accounts, and transactions that occur throughout the audit. After evaluating the results of our tests of control and our final risk assessment we can develop detailed audit programs.
Perform Substantive Tests of Account Balances
These tests are designed to provide reasonable assurance as to the validity of the information produced by the accounting system. Substantive tests involve such things as examining invoices supporting payments, confirmation of balances with independent parties, analytical review procedures, and physical inspection of assets. All significant accounts will be subjected to substantive procedures. Substantive tests provide direct evidence of the completeness, accuracy, and validity of data.

Perform Single Audit Procedures (if applicable)
During the planning phase of the audit we will request and review schedules of expenditures of federal awards and state financial assistance. These schedules will be the basis for our determination of the specific programs we will test.

In documenting our understanding of the internal control system for the financial statement audit, we will identify control activities that impact major federal and state programs as well. This will allow us to test certain controls for the financial audit and the single audit concurrently. We will then perform additional tests of controls for each federal and state program selected for testing. We will then evaluate the results of the test of controls to determine the nature, timing and extent of substantive testing necessary to determine compliance with major program requirements.
Perform Statutory Compliance Testing

We have developed audit programs for Rolling Oaks Community Development District designed to test Florida Statutes as required by the Auditor General. These programs include test procedures such as general inquiries, confirmation from third parties, and examination of specific documents.

Closing Phase

During the closing phase we perform detail work paper reviews, request legal letters, review subsequent events and proposed audit adjustments. Communication with the client is critical in this phase to ensure that the information necessary to prepare financial statements in conformity with accounting principles generally accepted in the United States has been obtained.

Reporting Phase

Financial Statement Preparation
As a local firm, we spend a considerable amount of time on financial statement preparation and support. With this in mind, we can assist in certain portions of the preparation of financial statements or simply review a draft of financials prepared by your staff. We let you determine our level of involvement.

Management Letters

We want to help you solve problems before they become major.

Our management letters go beyond citing possible deficiencies in the District’s internal control structures. They identify opportunities for increasing revenues, decreasing costs, improving management information, protecting assets and improving operational efficiency.

The diversity of experience of our personnel and their independent and objective viewpoints make the comments, observations, and conclusions presented in our management letters a valuable source of information. We have provided positive solution-oriented objective recommendations to our governmental clients regarding investments, accounting accuracy, data processing, revenue bonds, payroll, utility billing, purchasing, budgeting, risk management, and internal auditing.

This review ensures the integrity of the factual data in the management letter but does not influence or impair our independence.

Exit Conferences and Delivery of Reports

We anticipate meeting with appropriate District personnel in February and issuing the final required reports by the May meeting of each year.
PROPOSED AUDIT FEE

DiBartolomeo, McBee, Hartley & Barnes P.A. will perform the annual audit of Rolling Oaks Community Development District for the five years as follows:

September 2023	$ 3,400	
September 2024	$ 3,450	
September 2025	$ 3,500	
September 2026	$ 3,600	
September 2027	$ 3,700	

In years of new debt issuance fees may be adjusted as mutually agreed upon.

Board of Supervisors Meeting

Minutes
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, August 24, 2023 at 1:00 p.m. at the Margaritaville Resort Orlando, 8000 Fins Up Circle, Kissimmee, Florida.

Present and constituting a quorum were:

John Chiste	Chairman
Jared Bouskila	Vice Chairman by telephone
Cora DiFiore	Assistant Secretary by telephone
Peter Brown	Assistant Secretary
Steven Dougherty	Assistant Secretary Also present were:
Tricia Adams	District Manager
Vivek Babbar	District Counsel by telephone
Dave Schmitt	District Engineer by telephone

FIRST ORDER OF BUSINESS	Roll Call
Ms. Adams called the meeting to order and called the roll.

SECOND ORDER OF BUSINESS	Public Comment Period
A resident stated we have a transient community and my neighbors were hoping to get a virtual meeting. There are 600 plus owners who would probably like to listen to your meetings and learn more about what’s going on.
Mr. Chiste stated that is something we plan to take up today. Does everyone understand what a CDD board is versus an HOA board? It is totally different. We are not an HOA dealing with specific items that impact the residents. It is more of a global board relative to the community development district, common areas that are outside your specific homes. The fees collected by

the CDD are used to take care of roads and entrances and lighting and things like that. A lot of things related to the HOA are out of the district’s control.
A resident stated I wanted more detail on some budget items, landscape enhancement and utilities have an increase. I want to understand what that is going towards or if it is appropriate for some of that to go towards the Phase 9 development.
Mr. Chiste we will hold those for the budget hearing.
A resident stated because we have such transient people who don’t live in the they want to make sure they have a right to vote and a way to vote. We can’t do electronic signatures and have to collect signatures from all over the world. Because of the nature of this community we will never have the 250 registered voters, we are never going to get to a general election. How can we make this work fair and the owners have a voice.
Mr. Serro asked on page 7 you have 500 single-family units is that townhomes?
Ms. Adams stated we will go over the methodology for apportioning maintenance assessments when the budget is presented.
A resident stated you see the construction on the wrong property, the 300 acres then breaking down to 230 acres. What is the status of those condos across on the lake? Construction has stopped.
Mr. Chiste stated the CDD does not build those, the developer builds those. The CDD has nothing to do with that construction. Bonds were sold to help build the infrastructure, the streets, lighting, entryways, gates, things like that. What goes on with the building of a hotel, retail, etc. the CDD has nothing to do with that.
Ms. Felix asked if more properties are closing and there are more CDD imposed fees wouldn’t that make up for some of the budget increases?
Mr. Chiste stated yes and no because there are certain properties that outside of the CDD boundaries and those inside the boundaries pay a portion of the CDD costs.
Mr. Brown stated the areas encumbered by the CDD are all the cottages, all the townhomes, the condos that will be built, the townhouses that will be built, all pay into the CDD. Also the apartments that are on the southwest portion of the property pay CDD maintenance fees.
Mr. Chiste stated the O&M is the operations and maintenance, they all pay that. They were not allocated a portion of the bonds, because most rental properties can’t afford to repay the bonds, but they do pay their share of the maintenance.

Mr. Brown stated I don’t think we have had an increase for the last six years. This year the road was completed around the entire Fins Up Circle and the streetlights come on, the maintenance, the cleaning, landscaping around Fins Up Circle this year. Last year it stopped by Phase 7. This year it is the full circle and that is a lump of expenses that had to go on this year, yet not everything is closed so there is an unmatched increase in expense that will be absorbed so there shouldn’t be this kind of increase in the future. Anything like a retail operating business such as the hotel, waterpark, clubs are not a part of the CDD.
Ms. Sessa stated streetlights on my street were inoperable for a long time, the gate was struck by lightning and it has been over a year and it hasn’t been fixed. The guards just open the gate and it is public access, there is no real deterrents. Putting in these gates with an access button would have been nice because it is a huge expense to move the road, sidewalk, landscaping.
Mr. Brown stated there are owners who feel the other way, that like having the people there. It is public access and the gate was originally designed to be a manned gate just like the south gate. It was the request of the residents that we have the gate.
Ms. Sessa asked how did they vote for that?
Mr. Brown stated there wasn’t a vote, I’m telling you what the opinions were. Just like you are voicing opinions and making comments now, people throughout the last six years have made comments.
Ms. Sessa stated that is what we are asking, a more formal process. In all organizations proxies are accepted by mail rather than a couple people determining a huge budget. Putting it to a vote would make more sense. What if 70% of the homeowners don’t want to spend that money on that item because it is not worth it to us versus 10%. We don’t know because we weren’t given that chance. That is the point we are trying to make.
Mr. Sutton stated we have one public access and one gate that makes more sense.
Mr. Million stated if this increase is to catch up from last year, what would be a normal increase for a project such as this.
Ms. Adams stated when CDD fees are increased typically the goal is to have them increase at three-to-five-year intervals, however because of the CPI and inflation over the last two years most CDDs are realizing significant cost increases. Some of the field maintenance budget is driven by the costs of labor.

Mr. Chiste stated we don’t insure any structures in this budget, if we did it would not be a great situation. Insurance costs in the state have gone through the roof. That is just an example of the cost increase.
A resident asked where does the CDD show up on the property appraiser’s notice? Ms. Adams stated CDD fees are not required to be on the TRIM notice.
A resident stated it may not be required but why is it not on there.
Mr. Chiste stated in your closing documents in several place it indicated that your property was subject to a CDD. It is in your contract to buy if you bought from the developer and is in three at least three different places. If you bought from another homeowner, I don’t know what they provided to you.
Mr. Babar stated it should also be on their title report. We record documents in the public records, including the notice of establishment, establishing the CDD as well as notice of lien with respect to the debt assessments. We do everything we can to have notice out there. Obviously, we are not part of the sales process, but the CDD has the obligations from Chapter 190, Florida Statutes and those additional disclosures.
Other comments: there should be a CDD class for the owners to help understand the process, cameras on gates, gate guards not 24 hours, mailing address for CDD and there was an email received from a resident voicing opposition to the increase in assessments.

THIRD ORDER OF BUSINESS	Approval of the Minutes of the May 25, 2023
Meeting

FOURTH ORDER OF BUSINESS	Discussion of Virtual Meeting Attendance
Ms. Adams stated we have received requests from property owners and residents who requested to attend the board meetings via Zoom technology. During COVID many CDDs became accustomed to this technology. The way that could work is we offer a Zoom link on the district’s website and any member of the public would access that Zoom meeting during the public comment period and those interested in speaking would raise their hand and we would bring them into the meeting for the public comment period, otherwise they are able to see and hear what is happening

at the meeting, to the extent the technology allows. From time to time there are issues with internet access that make the Zoom technology a little frustrating and there are times when the audio may not be as clear as virtual attendees would like. There is no significant duress for staff, we have the equipment and we are happy to set that up if that is something the board members would like to see.

Ms. Adams stated in the future we will provide a Zoom link that can be accessed by district staff, board members and members of the public.
Mr. Chiste asked is there a cost based on the number of portals?
Ms. Adams stated our firm has a professional level account that allows for up to 500 attendees per webinar. We set it up as a webinar because of the controls for public meetings.

FIFTH ORDER OF BUSINESS	Public Hearing

Ms. Adams stated Resolution 2023-10 adopts the budget for fiscal year 2024 that starts October 1, 2023 and ends September 30, 2024. Passing the resolution adopts the budget and allows for appropriations of the general fund and debt service funds as well as provisions for budget amendments. Attached to the resolution is the proposed budget that includes the general fund budget, the debt service budgets for the 2016, 2018 and 2022 series of bonds that have already been imposed. Your assessment resolution authorizes collection on the Osceola County tax bill.
In the revenue section we have proposed $813,131 in assessments, these are the CDD operation and maintenance fees that will be on the non-ad valorem section of the tax bill. In the past there was a developer contribution to offset some of the expenses. Now that the project is built out that developer contribution is going away so we have zeroed out that line item. All the assessments are borne by the property owners who benefit from the maintenance of the district.

The first section is administrative expenses, the cost to operate the district. We have a proposed budget of $131,480, the previous year’s budget was $127,176. There is an increase for management fees, insurance, meeting rooms and other expenses. The proposed budget is based on the history as well as increases we have been made aware of.
The field expenses are next and this is where we are seeing the increases that are driving the proposed increase for operations and maintenance fees. We do have property insurance for certain assets. There are proposed increases in utility expenses, streetlights, water and sewer utilities, and landscape maintenance for CDD areas. Landscape enhancement is to address any issues that could come up outside the budgeted landscape maintenance scope. We are realizing some savings on lawn mowing and trimming and lake maintenance. We have a line item for contingencies.
Mr. Chiste restated the increases in electric for streetlights, utilities, and landscape maintenance are due to increased costs and an increase in area. Areas came online during fiscal year 2023 and will be in the fiscal year 2024 budget.
Mr. Brown stated everything from the Domain Apartments to Phase 7 was not in previous years, that was a road that was not completed the stormwater was not in. Now it is in place and needs to be maintained. We lease the streetlights and if there is an issue with a streetlight Duke has to come and fix it.
Ms. Adams stated on the bottom of page 2 there are two tables that has the proposed assessment for fiscal year 2024. That top table lists the different product types, 663 single-family assessable units, 645 condo assessable units, and 352 apartment assessable units. They are based on an ERU factor or Equivalent Residential Unit that was established when the debt was issued. A single-family home is equivalent to 1 ERU.
Mr. Brown stated single family is both cottages and townhomes.
Ms. Adams stated the condos are .8 ERU and the apartments are .5 ERU and this is relevant to the benefit they receive. What is important to residents is the last number in the row, which is the gross per unit, for single-family homes the proposed gross per unit is $638.40, condos is
$510.72 and apartments is $319.20. There is also a net number which is the amount the district receives because the county charges a fee to the district to collect the assessments on the tax roll and property owners can get up to a 4% savings if they pay their taxes early. The last table on page

two shows the increase per unit. The next section of the budget is the narrative and gives a full explanation of each line item in the budget.
Mr. Chiste stated the debt service is set when the bonds are issued, the only thing we control is the O&M expenses. Let’s open the floor to the public regarding what is being spent because I think that is important.
Mr. Hansen stated you did a great job in explaining the budget. There are a couple things I heard but don’t understand. You said you had to finish the road and add more lights and that raised the price and that is huge increase. That is not the cost of the electric, there has to be something else. I don’t understand that the people who benefit from that, the common areas, the hotels whatever, why are they not contributing to that, why are we paying for that?
Mr. Chiste stated everybody has access to the public road and the hotels were carved out from day one; that is not new. It is not a decision to be made now.
Mr. Hansen stated the condos started out as condos but are now short-term rentals.
Mr. Brown stated those were always planned to be on the assessments. If you look at the assessments back to your issue about the developer burden, if you look at the top table on page 2, it is allocated across the developed property, the developer is paying for 645 condos because there are no other owners right now. Same with the 663 single-family, one section is being paid by the developer the other 662 are paid by residents and the 345 on the condos will go to the owners as they are sold but until such time the developer is carrying that portion of the burden.
Ms. Adams stated the property owner gets a tax bill. Whomever owns that property gets the bill.
A resident asked but the contribution is no longer there.
Mr. Brown stated that is different, that was when the developer owned undeveloped property. Now the property is all assigned to the 663 and 345; it is being paid by the developer in a different way.
Mr. Chiste stated almost 40% of these dollars are paid by the developer because the developer owns all these unsold units and unsold lots. Eventually the developer will have nothing to pay when all the units are sold.
Mr. Hansen stated that is not going to change our situation, we are already in there. A resident asked how did the developer assign the ERUs?

Mr. Brown stated that is determined through the engineer’s report and I think what they did was the apartments have studios, one’s and two’s, cottages is everything from one to eight bedrooms so it was an allocation of how you look at the amount of usage created upon the infrastructure. That was an analysis by the engineer.
Ms. Adams stated when the debt is issued there is Master Assessment Methodology and that takes the eligible capital expenses described in the engineer’s report and allocates how those debt expense will be shared by the assessable units. It is considered a fair share of the debt, or in this case the maintenance, based on the benefit the property receives.
Other comments: Stormwater system, coordinate pond mowing with HOA, landscape enhancements, responsibility of landscapers, bid threshold for contracts, CDD pays for CDD contracts, HOA is responsible for their property, increase in utilities, irrigation system, lease versus purchasing streetlights, bond retirement.
Ms. Adams stated once the board adopts a budget, we need to fund it. The way we propose to fund it is with imposing operations and maintenance assessments fees, the board is authorizing imposition and collection on the property tax bill. The Board is also authorizing collection of the debt service in accordance with the budget we just reviewed.
There were no questions or comments on the assessment resolution.

Consideration of Resolution 2023-10 Adopting the Fiscal Year 2024 Budget and Relating to the Annual Appropriations

Consideration of Resolution 2023-11 Imposing Special Assessments and Certifying an Assessment Roll
Ms. Adams stated attached to Resolution 2023-11 will be a copy of the budget as well as the tax roll.

SIXTH ORDER OF BUSINESS	Review and Acceptance of Annual Engineer’s
Report
Ms. Adams stated a copy of the annual engineer’s report was included as part of the agenda package. The report is required per the trust indentures for the series 2016, 2018 and 2022 bond issues to ensure the district assets are being maintained in accordance with proper standards and to ensure that there is adequate budgeting and insurance coverage.

SEVENTH ORDER OF BUSINESS	Approval of Drainage Fee Agreement with
Reedy Creek Improvement District
Ms. Adams stated the agreement for Board consideration is between Reedy Creek Improvement District, Rolling Oaks Community Development District and Rolling Oaks Splendid LLC. This agreement was required by Reedy Creek because of discharge of the stormwater system into the Reedy Creek Improvement District area.
Mr. Babbar stated the developer is paying the one-time fee to tie into the Reedy Creek drainage system and the developer or their assigns are required to maintain certain insurance policies, the only obligation the district has is to maintain its drainage infrastructure designed on government regulation and permits and as long as the developer maintains their insurance policy the district only has to maintain commercial general liability insurance in the amounts of $1 million per occurrence and $2 million in the aggregate, which we already have. There is not going to be any additional cost to the district. I recommend the board approve n substantial form, that way we can make any final changes and get it executed as soon as possible.

EIGHTH ORDER OF BUSINESS	Appointment of Audit Committee
Ms. Adams stated we do have an audit committee meeting scheduled today. The district is required to undergo an annual, independent audit. We appoint an audit committee to approve the request for proposals and the notice. Typically, boards appoint themselves as the audit committee.

NINTH ORDER OF BUSINESS	Staff Reports
Attorney
Ms. Adams stated during the public comment period there were questions about participating virtually and I explained that the landowners’ meetings are conducted in accordance with Florida Statutes. There were questions about the use of technology such as electronic voting or other methods that HOAs might use. If you could address options that CDDs have and the limitations of the Florida Statutes that would be helpful.
Mr. Babbar stated with respect to electronic voting, the district is limited with respect to Florida Statutes that may apply to other government entities as well. If we do ever want to utilize electronic signatures or allow them for any of our district business, we have to invest in technology that can authenticate and verify those signatures. That is the reason we are not able to accept printed copies unless there is a wet signature for that reason. That is an added expense, none of my districts have really gone down that road because of the additional expense. I can understand why it is being made especially in this community, but we have to have the authentication aspect in place.. Right now we are doing landowner elections but as the transition to landowner control they are going to be on the general election and the supervisor of elections handles that process.
A resident stated it is very unlikely we will ever have a general election based on the nature of this community. It will always be a landowner’s election.

Engineer
There being no comments, 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.

Approval of Fiscal Year 2024 Meeting Schedule

TENTH ORDER OF BUSINESS	Supervisor’s Requests
There being no comments, the next item followed.

ELEVENTH ORDER OF BUSINESS	Next Meeting Date – September 28, 2023
Ms. Adams stated the next meeting will be held September 29, 2023 at 1:00 p.m. in the same location.

TWELFTH ORDER OF BUSINESS	Adjournment

Secretary/Assistant Secretary	Chairman/Vice Chairman

MINUTES OF MEETING ROLLING OAKS
COMMUNITY DEVELOPMENT DISTRICT

The Rolling Oaks Community Development District audit committee met Thursday, August 24, 2023 at 2:27 p.m. at the Margaritaville Resort Orlando, 8000 Fins Up Circle, Kissimmee, Florida.

Present:

John Chiste
Jared Bouskila by telephone Cora DiFiore by telephone Peter Brown
Steven Dougherty Tricia Adams
Vivek Babbar by telephone

FIRST ORDER OF BUSINESS	Roll Call
Ms. Adams called the audit committee meeting to order.

SECOND ORDER OF BUSINESS	Public Comment Period
There being no comments, the next item followed.

THIRD ORDER OF BUSINESS	Audit Services
Approval of Request for Proposals and Selection Criteria
Approval of Notice of Request for Proposals for Audit Services

Public Announcement of Opportunity to Provide Audit Services

Section V
RESOLUTION NO. 2023-12

A RESOLUTION AUTHORIZING THE EXPANSION OF THE ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT AND AUTHORIZING THE SUBMITTAL OF A PETITION TO EXPAND THE DISTRICT TO THE BOARD OF COUNTY COMMISSIONERS OF OSCEOLA COUNTY, FLORIDA, UNDER SECTION 190.046, FLORIDA STATUTES.

WHEREAS, the Rolling Oaks Community Development District (the "District") is a local unit of special-purpose government organized and existing in accordance with the Uniform Community Development District Act of 1980, as amended, Chapter 190, Florida Statutes; and

WHEREAS, the Board of Supervisors of the District (the "Board") desires to expand the boundaries of the District and to submit a Petition to Expand the Boundaries of the District (“Petition”) to include an additional parcel as reflected on Exhibit A, attached hereto and incorporated herein, (“Expansion Property”) into the District.

NOW THEREFORE, BE IT RESOLVED BY THE BOARD THAT:

The Board hereby authorizes and approves of the expansion of the District to include the Expansion Property and the Board hereby authorizes and directs the Chair to sign and submit the Petition to Osceola County, Florida.

The Board hereby authorizes and directs the Chair, the Vice Chair, any member of the Board, the District Manager, District Counsel, and District Engineer to take any action or to offer testimony in any proceeding held in connection with obtaining approval of the Petition from Osceola County, Florida.

This Resolution shall be effective immediately upon passage.

Passed and Adopted on September 28, 2023

Attest:
Rolling Oaks
Community Development District

 	
Secretary/Assistant Secretary
John Chiste
Chair of the Board of Supervisors

4892-8312-8448, v. 1

SURVEYOR'S NOTES:

BEARINGS SHOWN HEREON ARE ASSUMED AND BASED ON THE SOUTH LINE OF LOT 3, ROLLING OAKS, PLAT BOOK 26, PAGES 116 THROUGH 125 OF THE PUBLIC RECORDS OF OSCEOLA COUNTY, FLORIDA, AS HAVING AN ASSUMED BEARING OF N90"00'0Q"W.

	THERE MAY BE EASEMENTS AND RESTRICTIONS OF RECORD AND/OR PRIVATE AGREEMENTS NOT FURNISHED TO THIS SURVEYOR OR SHOWN ON THIS BOUNDARY SURVEY THAT MAY AFFECT PROPERTY RIGHTS AND/OR LANO USE RIGHTS OF THE SUBJECT PROPERTY.

	ACCURACY OF THE SURVEY DATA SHOWN HEREON HAS BEEN VERIFIED BY REDUNDANT MEASUREMENTS OR TRAVERSE CLOSURES ACHIEVlNG OR EXCEEDING A CLOSURE OF 1 FOOT IN 10,000 FEET.

LEGAL DESCRIPTION:

LOT 3, ROLLING OAKS, ACCORDING TO THE PLAT THEREOF AS RECORDED IN PLAT BOOK 26, PAGES 116 THROUGH 125 OF THE PUBLIC RECORDS OF OSCEOLA COUNTY, FLORIDA.

	ALL BOUNDARY LINE BEARINGS, DISTANCES AND CURVE DATA ARE PLAT AND/OR DESCRIBED AND MEASURED UNLESS SHOWN AS (P) = PLAT, (D) = DESCRIBED AND/OR (M) = MEASURED.
THIS SURVEY WAS PERFORMED WITHOUT THE BENEFIT OF A TITLE COMMITMENT.

THE LEGAL DESCRIPTION HEREON HAS BEEN PREPARED BY THE SURVEYOR AT THE CLIENT'S REQUEST.

SYMBOL AND ABBREVIATION LEGEND:

ELECTRICAL VAULT	't
CONCRETE LIGHT POLE	C

CENTER LINE CHORD DISTANCE
THERE MAY BE ENVIRONMENTAL ISSUES AND/OR OTHER MATTERS REGULATED BY VARIOUS DEPARTMENTS OF FEDERAL,
STATE OR LOCAL GOVERNMENTS AFFECTING THE SUBJECT PROPERTY NOT SHOWN ON THIS SURVEY.

	THE LANDS SHOWN HEREON LIE IN ZONE X UNSHADED, DEFINED AS AREA DETERMINED TO BE OUTSIDE THE 0.2% ANNUAL FLOOD CHANCE, ZONE X SHADED, DEFINED AS 0.2% ANNUAL CHANCE FLOOD HAZARD AND FLOOD ZONE AE, DEFINED AS AREAS THAT PRESENT A 1% ANNUAL CHANCE OF FLOODING WITH A BASE FLOOD ELEVATION OF 104.3 FEET, PER FLOOD INSURANCE RATE MAP (FIRM) NO. 12097C0030G, WITH AN EFFECTIVE MAP DATE OF 6/18/2013. THE ABOVE STATEMENT IS FOR INFORMATION ONLY AND THIS SURVEYOR ASSUMES NO LIABILITY FOR THE CORRECTNESS OF THE CITED MAP. IN ADDITION, THE ABOVE STATEMENT DOES NOT REPRESENT THIS SURVEYOR'S OPINION OF THE PROBABILITY OF FLOODING. THE LIMITS OF SAID ZONES ARE GRAPHICALLY DEPICTED HEREON AS NEAR AS MAY BE SCALED FROM SAID MAP.

	THIS SURVEY WAS PERFORMED FOR THE SOLE AND EXCLUSIVE BENEFIT OF THE ENTITIES LISTED HEREON AND SHALL NOT BE RELIED UPON BY ANY OTHER ENTITY OR INDIVIDUAL WHOMSOEVER.

	THIS SURVEY IS NOT VALID WITHOUT THE SIGNATURE AND ORIGINAL RAISED SEAL OF A FLORIDA LICENSED SURVEYOR AND MAPPER.

UNLESS OTHERWISE NOTED OR SHOWN HEREON, THERE ARE NO APPARENT AND/OR UNOBSTRUCTED, ABOVE GROUND ENCROACHMENTS. THE DISPOSITION OF ANY POTENTIAL ENCROACHING IMPROVEMENTS SHOWN IS BEYOND PROFESSIONAL PURVIEW AND SUBJECT TO LEGAL INTERPRETATION.

UNLESS OTHERWISE NOTED OR SHOWN HEREON, APPARENT AND/OR VISIBLE UNOBSTRUCTED, ABOVE GROUND IMPROVEMENTS WERE LOCATED. UNDERGROUND IMPROVEMENTS, SUCH AS FOUNDATIONS AND UTILITIES, WERE NOT LOCATED.

ELEVATIONS SHOWN HEREON ARE BASED ON THE NORTH AMERICAN VERTICAL DATUM OF 1988, NATIONAL GEODETIC SURVEY BENCHMARK NUMBER B 629, ELEVATION BEING 106.34'.

LAST DATE OF FIELD SURVEY: OCTOBER 3, 2022.

SUBJECT PROPERTY CONTAINS APPROXIMATELY 230,201 SQUARE FEET OR 5.28 ACRES.

'111
0
@
X
B
CIII

[ll
m
""
WOODEN POWER POLE
IRRIGATION VALVE SINGLE STAND SIGN NATURAL GAS VALVE
RECLAIMED WATER VALVE SANITARY SEWER MANHOLE STORM DRAINAGE MANHOLE MAILBOX
FIRE HYDRANT WATER VALVE
FOUND IRON ROD OR NAIL AS NOTED
SET 1/2" IRON ROD OR NAIL & DISK LB#6723
FOUND X CUT PEDESTRIAN CROSS POLE SANITARY SEWER VALVE
CATCH BASIN BACKFLOW PREVENTER ELECTRICAL PANEL ELECTRICAL CABINET ELECTRICAL METER TRANSFORMER
DISABLED PARKING
CB R L
ti
PSM LS (M)
(D)
N.T. P.C.C. P.T. RCP PVC CPP

-s"s-
-so-
CHORD BEARING RADIUS
ARC LENGTH CENTRAL ANGLE
PROFESSIONAL SURVEYOR AND MAPPER LICENSED SURVEYOR
MEASURED
DESCRIBED NON-TANGENT
POINT OF COMPOUND CURVATURE POINT OF TANGENCY
REINFORCED CONCRETE PIPE POLYVINYL CHLORIDE PIPE CORRUGATED PLASTIC PIPE BENCHMARK LOCATION
SPOT ELEVATION
SANITARY SEWER LINE (8" PVC) DRAINAGE PIPE (AS NOTED)

J" = 40 GRAPHIC SCALE

0	20	40	80

SANITARY MANHOLE TOP RIM=111.83' INVERT-95.53"W INVERT•95.58"E

SANITARY MANHOLE TOP RIM=111.81' INVERT•96.41'NE INVERT=96.21'E INVERT•96.06"W

NON-EXCLUSIVE UTILITY EASEMENT PER OFFICIAL
RECORDS BOOK 5503, PAGE 1672

LOT 2 (WATER PARK) ROLLING OAKS PLAT BOOK 26,
PAGES 116-125
I
)	SANITARY MANHOLE TOP RIM•110.96"
INVERT=98.30'W INVERT•98.39'E

SANITARY MANHOLE TOP RIM=108.53' INVERT•98.59"W INVERT=98.69'N

SANITARY MANHOL TOP RIM•111. INVE:RT=93.
INVERT•94.93"E INVE:RT=92.93'S

6" CHAIN UNk FENCE EN
(o.s·
X
F'OUND /2" IRON ROD & AP

8' CHAIN LINK
1.0·

112.07"
8" CHAIN LINK

RAMP
105'
L8# 93  '\
. "EV:1'"

fOUNO 1/2" gJ
IRON ROD & CAP
L8#6393
(0.18'W)
X

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< X

0	'"
10
,!>':>	i	3:::
'	t£

DRAINAGE MANHOLE	0
TOP RIM=107.87"	"'	0
13· RCP INVERT=103.24"N	Ix z
24" CPP INVERT=103.12'S

05".29''
00.99'

DRAINAGE MANHOLE TOP RIM=107.66"
24" CPP INVERT=102.91'N
24" CPP INVERT 102.85'S

R=319.48' CB=S21"21'54"W
C=57.63' t,=010·20•59"
L=57.71'

&  ,o·

LINK fc:E\ 6' CHAIN LINK
'"	"'

---\- FO	X ;UT 4rOUND NAIL
DISK L6#639

I
I

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I
I

Section VI
BOUNDARY AMENDMENT FUNDING AGREEMENT BY AND AMONG THE ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT
AND ROLLING OAKS SPLENDID, LLC

This Agreement (“Agreement”) is made and entered into this 28th day of September, 2023, by and between:

ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT, a local
unit of special-purpose government established pursuant to Chapter 190,
Florida Statutes, and located in Osceola County, Florida (the "District"), and

ROLLING OAKS SPLENDID, LLC, a Florida limited liability company and a landowner in the District, whose address is 1 Town Center Road, 600, Boca Raton, FL 33486 (the "Developer").

RECITALS

WHEREAS, the District was established by an ordinance adopted by the County Commission of Osceola County, Florida, effective as of December 15, 2014, for the purpose of planning, financing, constructing, operating and/or maintaining certain infrastructure, including roadways, buffer walls, water facilities, sewer facilities, reclaimed water facilities, stormwater management facilities, and/or other infrastructure improvements; and

Whereas, pursuant to the Act, the District is authorized to construct, acquire, and maintain infrastructure improvements and services within and without the boundaries of the District; and

Whereas, the District presently consists of approximately 201.6468 acres of land, more or less, as more fully described in the Ordinance; and

Whereas, Developer has approached the District and requested the District petition to amend its boundaries to expand approximately 5.28 acres of land; and

Whereas, the amendment proposed by Developer is within the amendment size restrictions contained within section 190.046(1), Florida Statutes, and will result in the District being comprised of 206.9268 approximately acres, more or less; and

Whereas, the District agrees to petition to amend its boundary in accordance with the procedures and processes described in Chapter 190, Florida Statutes, which processes include the preparation of a petition to the County and such other actions as are necessary in furtherance of the boundary amendment process; and
Whereas, in order to seek a boundary amendment pursuant to Chapter 190, Florida Statutes, the District desires to authorize District staff, including but not limited to legal, engineering, and managerial staff, to provide such services as are necessary throughout the boundary amendment process; and

Whereas, any such work shall only be performed in accord with the authorizations of the District’s Board of Supervisors (“Board”); and

Whereas, the retention of any necessary consultants and the work to be performed by District staff may require the expenditure of certain fees, costs, and other expenses by the District as authorized by the Board; and

Whereas, Developer desires to provide sufficient funds to the District to reimburse the District for any such expenditures including but not limited to legal, engineering, and other consultant fees, filing fees, administrative, and other expenses, if any.

Now, therefore, based upon good and valuable consideration and mutual covenants of the parties, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

Section 1. Provision of Funds. Developer agrees to make available to the District such monies as are necessary to enable the District to proceed with the boundary amendment and to provide such monies as are necessary to enable District staff, including legal, engineering, and managerial staff, to assist in the boundary amendment process and proceedings. Developer will make such funds available monthly, within thirty (30) days of a written request by the District. The funds shall be placed in the District's depository as determined by the District.

Section 2. District Use of Funds. The District agrees to use such funds solely for the fees, costs, and other expenditures accruing or accrued for seeking an amendment to the boundaries of the District in accord with Chapter 190, Florida Statutes. The District agrees to use good faith best efforts to proceed in an expeditious manner with the preparation and filing of the petition and related materials to seek the amendment of the District's boundary pursuant to Chapter 190, Florida Statutes, and with the prosecution of the procedural requirements detailed in Chapter 190, Florida Statutes, for the amendment of the District's boundary. The District also agrees to make monthly requests for necessary funds from Developer for reimbursement for services of the boundary amendment team, as described in Section 1 of this Agreement. The District shall not reimburse Developer for funds made available to the District under this Agreement.
SECTION 3. DEFAULT. A default by either party under this Agreement shall entitle the other to all remedies available at law or in equity, which may include, but not be limited to, the right of damages, injunctive relief and/or specific performance.

Section 4. Enforcement of Agreement. In the event that either party is required to enforce this Agreement by court proceedings or otherwise, then the substantially prevailing party shall be entitled to recover all fees and costs incurred, including reasonable attorneys’ fees and costs for trial, alternative dispute resolution, or appellate proceedings.

Section 5. Agreement. This instrument shall constitute the final and complete expression of this Agreement between the parties relating to the subject matter of this Agreement.

Section 6. Amendments. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing executed by both parties hereto.

Section 7. Authorization. The execution of this Agreement has been duly authorized by the appropriate body or official of all parties to this Agreement, each party has complied with all the requirements of law, and each party has full power and authority to comply with the terms and provisions of this instrument.

Section 8. Notices. All notices, requests, consents and other communications under this Agreement (“Notices”) shall be in writing and shall be delivered, mailed by First Class Mail, postage prepaid, or overnight delivery service, to the parties, as follows:

If to the District:	Rolling Oaks Community
Development District
219 East Livingston Street Orlando, Florida 32801 Attn: District Manager

With a copy to:	Vivek Babbar| Straley & Robbin 1510 W. Cleveland Street Tampa, FL 33606
Attn: District Counsel

If to Developer:	Rolling Oaks Splendid, LLC
1 Town Center Road, #600 Boca Raton, FL 33486 Attn: John Chiste
With a copy to:		

Attn:	

Except as otherwise provided in this Agreement, any Notice shall be deemed received only upon actual delivery at the address set forth in this Agreement. Notices delivered after 5:00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non-business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized by the United States government shall not be regarded as business days. Counsel for the parties may deliver Notice on behalf of the parties. Any party or other person to whom Notices are to be sent or copied may notify the other parties and addresses of any change in name or address to which Notices shall be sent by providing the same on five (5) days written notice to the parties and addresses set forth in this Agreement.

Section 9. Third Party Beneficiaries. This Agreement is solely for the benefit of the formal parties to this Agreement and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a formal party to this Agreement. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the parties to this Agreement any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions contained in this Agreement shall inure to the sole benefit of and shall be binding upon the parties to this Agreement and their respective representatives, successors, and assigns.

Section 10. Assignment. Neither party may assign this Agreement or any monies to become due hereunder without the prior written approval of the other party. Any purported assignment without such prior written approval shall be null and void.

Section 11. Controlling Law. This Agreement and the provisions contained herein shall be construed, interpreted, and controlled according to the laws of the State of Florida.

Section 12. Effective Date. The Agreement shall be effective after execution by both parties to this Agreement and shall remain in effect unless terminated by either of the parties.

Section 13. Public Records. The Developer understands and agrees that all documents of any kind provided to the District in connection with this Agreement may
be public records, and, accordingly, Developer agrees to comply with all applicable provisions of Florida law in handling such records, including but not limited to Section 119.0701, Florida Statutes. Developer acknowledges that the designated public records custodian for the District is Governmental Management Services – Central Florida, LLC (“Public Records Custodian”). Among other requirements and to the extent applicable by law, the Developer shall: (1) keep and maintain public records required by the District to perform the service; (2) upon request by the Public Records Custodian, provide the District with the requested public records or allow the records to be inspected or copied within a reasonable time period at a cost that does not exceed the cost provided in Chapter 119, Florida Statutes; (3) ensure that public records which 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 the contract term if the Developer does not transfer the records to the Public Records Custodian of the District; and (4) upon completion of the contract, transfer to the District, at no cost, all public records in Developer’s possession or, alternatively, keep, maintain and meet all applicable requirements for retaining public records pursuant to Florida laws. When such public records are transferred by the Developer, the Developer shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. All records stored electronically must be provided to the District in a format that is compatible with Microsoft Word or Adobe PDF formats.

IF THE DEVELOPER HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE DEVELOPER’S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT 219 EAST LIVINGSTON STREET, ORLANDO, FLORIDA 32801, TELEPHONE: (407) 839-5524, FAX: (407) 839-1526, OR EMAIL: RECORDREQUEST@GMSCFL.COM.

Section 14. Arm’s Length transaction. This Agreement has been negotiated fully between the parties as an arm's length transaction. The parties participated fully in the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are each deemed to have drafted, chosen, and selected the language, and doubtful language will not be interpreted or construed against any party.

Section 15. Sovereign Immunity. Developer agrees that nothing in this Agreement shall constitute or be construed as a waiver of the District's sovereign immunity or limitations on liability contained in section 768.28, Florida Statutes, or other statutes or law.
SECTION 16. FOREIGN INFLUENCE. Developer understands that under Section 286.101, Florida Statutes, that Developer must disclose any current or prior interest, any contract with, or any grant or gift from a foreign country of concern as that term is defined within the above referenced statute.

Section 17. Headings for Convenience Only. The descriptive headings in this Agreement are for convenience only and shall not control nor affect the meaning or construction of any of the provisions of this Agreement.

Section 18. Counterparts. This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall be an original; however, all such counterparts together shall constitute but one and the same instrument. Signature and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document to physically form one document.

[Signatures on next page]
In witness thereof, the parties execute this agreement the day and year first written above.

ATTEST:	ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairman, Board of Supervisors

WITNESS:	ROLLING OAKS SPLENDID, LLC
a Florida limited liability company

Print Name:	By:
Its: Manager

Section VII
RESOLUTION 2023-13

A RESOLUTION OF THE ROLLING OAKS COMMUNITY DEVELOPMENT	DISTRICT	ELECTING
	 AS ASSISTANT SECRETARY OF THE BOARD OF SUPERVISORS

WHEREAS, the Board of Supervisors of the Rolling Oaks Community District desires to elect 	 as an Assistant Secretary.

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

1.		 is elected Assistant Secretary of the Board of Supervisors.

Adopted this 28th day of September, 2023.

Secretary/Assistant Secretary	Chairman/Vice Chairman

Section VIII

Section C

Section 1

Summary of Check Register

July 01, 2023 to August 31, 2023

Fund	Date	Check No.'s		Amount	
General Fund					
	7/13/23	489-491	$	15,030.80	
	7/17/23	492-494	$	62,679.81	
	7/24/23	495	$	203.10	
	7/31/23	496-498	$	1,442.00	
	8/7/23	499-500	$	12,549.74	
	8/18/23	501-503	$	203,239.84	
	8/28/23	504-505	$	32,214.50	
		Total Amount	$	327,359.79	
AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	9/22/23	PAGE	1
*** CHECK DATES 07/01/2023 - 08/31/2023 ***	ROLLING OAKS GENERAL FUND
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
7/13/23 00032	7/01/23 10861	202306 310-51300-31100	*	406.25
ENGINEER SERVICES
DAVE SCHMITT ENGINEERING, INC.	406.25 000489
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/13/23 00028	6/30/23 INV16171 202306 320-53800-46201	*	147.50
REPLACE POP UP/NOZZLES
7/05/23 INV16202 202307 320-53800-46200	*	9,450.00 LANDSCAPE MAINT JULY 23
REW LAWN & IRRIGATION	9,597.50 000490
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/13/23 00019	7/01/23 PSI-8858 202307 320-53800-47000	*	1,989.94 POND MAINTENANCE JULY 23
7/01/23 PSI-8867 202307 320-53800-47000	*	1,212.31 POND MAINTENANCE JULY 23
7/01/23 PSI-8875 202307 320-53800-47000	*	715.00
POND MAINTENANCE JULY 23
7/01/23 PSI-8882 202307 320-53800-47000	*	1,109.80 POND MAINTENANCE JULY 23
SOLITUDE LAKE MANAGEMENT	5,027.05 000491
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ROCP3MAR 202303 320-53800-46200	*	10,545.50
LANDSCAPE MAINT MAR 23
03MARROC 202303 320-53800-46200	*	3,512.00 LANDSCAPE MAINT MAR 23
ROCP4APR 202304 320-53800-46200	*	10,545.50 LANDSCAPE MAINT APRIL 23
4APRROCL 202304 320-53800-46200	*	8,012.00 LANDSCAPE MAINT APRIL 23
ROCP5MAY 202305 320-53800-46200	*	7,651.75 LANDSCAPE MAINT MAY 23
5MAYROCL 202305 320-53800-46200	*	5,268.00 LANDSCPAE MAINT MAY 23
ROCP6JUN 202306 320-53800-46200	*	7,651.75 LANDSCAPE MAINT JUNE 23
6JUNROCL 202306 320-53800-46200	*	5,268.00 LANDSCAPE MAINT JUNE 23
CREATIVE NORTH, INC.	58,454.50 000492
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/17/23 00001	7/01/23 119	202307 310-51300-34000	*	3,154.42
MANAGEMENT FEES JULY 23
7/01/23 119	202307 310-51300-35200	*	49.50
WEBSITE ADMIN JULY 23
7/01/23 119	202307 310-51300-35100	*	83.33
INFORMATION TECH JULY 23
7/01/23 119	202307 310-51300-31300	*	666.67
DISSEMINATION SVC JULY 23
ROAK ROLLING OAKS	IARAUJO
AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER
*** CHECK DATES 07/01/2023 - 08/31/2023 ***	ROLLING OAKS GENERAL FUND
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...	VENDOR NAME
PAGE	2

....CHECK.....
DATE	DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS	AMOUNT	#
7/01/23 119	202307 310-51300-51000
OFFICE SUPPLIES JULY 23 7/01/23 119	202307 310-51300-42000
POSTAGE JULY 23
GOVERNMENTAL MANAGEMENT SERVICES	3,980.38 000493
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/17/23 00028	7/11/23 INV16287 202307 320-53800-46201	*	135.93
REPAIR ZONE LINE BREAK
7/11/23 INV16287 202307 320-53800-46201	*	109.00
REPLACE BAD SOLENOID
REW LAWN & IRRIGATION	244.93 000494
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/24/23 00028	7/19/23 INV16354 202307 320-53800-46201	*	203.10
REPLACE BROKEN ZONE LINE
REW LAWN & IRRIGATION	203.10 000495
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/31/23 00035	7/31/23 9075635	202307 310-51300-42000	*	815.87
DATA CONVERSION
ACTION MAIL SERVICES	815.87 000496
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/31/23 00023	7/27/23 2023-210 202307 310-51300-48000	*	343.13
NOT BOS MTG 7/27/23
OSCEOLA NEWS GAZETTE	343.13 000497
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/31/23 00003	7/25/23 23412	202307 310-51300-31500	*	283.00
GENERAL COUNSEL JULY 23
STRALEY ROBIN VERICKER	283.00 000498
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
8/07/23 00028	8/01/23 INV16439 202308 320-53800-46200	*	9,450.00 LANDSCPAE MAINT AUG 23
REW LAWN & IRRIGATION	9,450.00 000499
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
8/07/23 00019	8/01/23 PSI00005 202308 320-53800-47000	*	1,109.80 POND MAINTENANCE AUG 23
8/01/23 PSI00020 202308 320-53800-47000	*	1,989.94 POND MAINTENANCE AUG 23
SOLITUDE LAKE MANAGEMENT	3,099.74 000500
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
8/18/23 00001	8/01/23 120	202308 310-51300-34000	*	3,154.42
MANAGEMENT FEES AUG 23
8/01/23 120	202308 310-51300-35200	*	49.50
WEBSITE ADMIN AUG 23
8/01/23 120	202308 310-51300-35100	*	83.33
INFORMATION TECH AUG 23
8/01/23 120	202308 310-51300-31300	*	666.67
DISSEMINATION SVC AUG 23
ROAK ROLLING OAKS	IARAUJO
AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	9/22/23	PAGE	3
*** CHECK DATES 07/01/2023 - 08/31/2023 ***	ROLLING OAKS GENERAL FUND
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
8/01/23 120	202308 310-51300-51000	*	.21
OFFICE SUPPLIES AUG 23
8/01/23 120	202308 310-51300-42000	*	3.92
POSTAGE AUG 23
GOVERNMENTAL MANAGEMENT SERVICES	3,958.05 000501
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
8/18/23 00013	8/17/23 08172023 202308 300-20700-10300	*	133,299.29
TSFR DIRECT 2/1 SER18
8/17/23 08172023 202308 300-20700-10300	*	16,046.16
TSFR OF TAX RCPTS SER18
8/17/23 08172023 202308 300-20700-10300	*	49,221.34
TSFR OF TAX RCPTS SER16
ROLLING OAKS CDD C/O REGIONS BANK	198,566.79 000502
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
8/18/23 00019	8/01/23 PSI00026 202308 320-53800-47000	*	715.00
POND MAINTENANCE AUG 23
SOLITUDE LAKE MANAGEMENT	715.00 000503
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
8/28/23 00034	7/31/23 ROCP7JUL 202307 320-53800-46200	*	12,151.75 LANDSCAPE MAINT JULY 23
7/31/23 7JULROCL 202307 320-53800-46200	*	5,268.00 LANDSCAPE MAINT JULY 23
8/21/23 ROCP8AUG 202308 320-53800-46200	*	7,651.75 LANDSCAPE MAINT AUG 23
8/21/23 8AUGROCL 202308 320-53800-46200	*	5,268.00 LANDSCAPE MAINT AUG 23
CREATIVE NORTH, INC.	30,339.50 000504
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
8/28/23 00025	9/30/22 29077	202206 320-53800-46203	*	1,875.00
MOWING/CLEAN FINS JUNE 22
LAWNMASTERS LANDSCAPING OF ORLANDO	1,875.00 000505
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK A	327,359.79
TOTAL FOR REGISTER	327,359.79

ROAK ROLLING OAKS	IARAUJO

Section 2

Rolling Oaks
Community Development District

Unaudited Financial Reporting
August 31, 2023

Table of Contents

1		Balance Sheet	

2-3	
	General Fund	

4	
	Series 2016 Debt Service	

5	
	Series 2018 Debt Service	

6	
	Series 2022 Debt Service	

7	
	Series 2016 Capital Projects	

8	
	Series 2018 Capital Projects	

9	
	Series 2022 Capital Projects	

10-11	
	Month to Month	

12	
	Assessment Receipt Schedule	

13	
	Long Term Debt Schedule	

14	
	Series 2016 Construction Schedule	

15	
	Series 2018 Construction Schedule	

16	
	Series 2022 Construction Schedule	
Combined Balance Sheet August 31, 2023

Assets:
Operating Account - Suntrust Due from General Fund Investments
Series 2016 Reserve Revenue Interest Sinking Fund Construction
Series 2018 Reserve Revenue Interest Sinking Fund Construction
Series 2022 Reserve Revenue Interest
Capitalized Interest Construction

$	245,085	$
$	-	$

$	-	$
$	-	$
$	-	$
$	-	$
$	-	$

$	-	$
$	-	$
$	-	$
$	-	$
$	-	$

$	-	$
$	-	$
$	-	$
$	-	$
$	-	$

-	$
133,574	$

1,147,795	$
895,156	$
1,775	$
237	$
-	$

918,301	$
505,554	$
1,415	$
191	$
-	$

587,975	$
6,514	$
4	$
254,059	$
-	$

$
$

$
$
$
$
6,362	$

$
$
$
$
2,431	$

$
$
$
$
1,147	$

245,085
133,574

1,147,795
895,156
1,775
237
6,362

918,301
505,554
1,415
191
2,431

587,975
6,514
4
254,059
1,147

Total Assets	$	245,085	$	4,452,550	$	9,941	$	4,707,576				
Liabilities:
Accounts Payable	$	14,602	$	-	$	-	
$	14,602				
Due to Debt Service	$	133,574	$	-	$	-	$	133,574				
Fica Payable	$	-	$	-	$	-	$	-			
Total Liabilities	$	148,176	$	-	$	-	$	148,176			

Fund Balances:					
Unassigned	$	96,909	$	-	$	-	$	96,909			
Assigned for Debt Service 2016	$	-	$	2,045,171	$	-	$	2,045,171			
Assigned for Debt Service 2018	$	-	$	1,558,828	$	-	$	1,558,828			
Assigned for Debt Service 2022	$	-	$	848,551	$	-	$	848,551			
Assigned for Capital Projects 2016	$	-	$	-	$	6,362	$	6,362			
Assigned for Capital Projects 2018	$	-	$	-	$	2,431	$	2,431			
Assigned for Capital Projects 2022	$	-	$	-	$	1,147	$	1,147			
Total Fund Balances	$	96,909	$	4,452,550	$	9,941	$	4,559,400	
					
Total Liabilities & Fund Balance	$	245,085	$	4,452,550	$	9,941	$	4,707,576	

	Adopted	Prorated Budget	Actual		
	Budget	Thru 08/31/23	Thru 08/31/23	Variance	

Revenues					
Assessments - On Roll	$	331,553	$	331,553	$	335,675	$	4,122	
Assessments - Direct	$	208,033	$	208,033	$	208,033	$	-	
Developer Contributions	$	45,457	$	45,457	$	59,750	$	14,292	
Total Revenues	$	585,044	$	585,044	$	603,458	$	14,292	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	12,000	$	11,000	$	5,000	$	6,000	
FICA Expense	$	918	$	842	$	383	$	459	
Engineering	$	10,000	$	9,167	$	700	$	8,467	
Attorney	$	15,000	$	13,750	$	4,668	$	9,082	
Arbitrage	$	1,350	$	900	$	900	$	-	
Dissemination	$	8,000	$	7,333	$	7,167	$	167	
Assessment Administration	$	10,000	$	10,000	$	10,000	$	-	
Annual Audit	$	3,675	$	-	$	-	$	-	
Trustee Fees	$	11,041	$	7,000	$	7,000	$	-	
Management Fees	$	37,853	$	34,698	$	34,699	$	(0)	
Information Technology	$	1,000	$	917	$	917	$	0	
Website Maintenance	$	594	$	544	$	545	$	(0)	
Telephone	$	100	$	92	$	-	$	92	
Postage	$	800	$	800	$	1,077	$	(277)	
Insurance	$	7,686	$	7,686	$	6,885	$	801	
Printing & Binding	$	800	$	733	$	129	$	604	
Legal Advertising	$	2,000	$	1,833	$	593	$	1,240	
Other Current Charges	$	2,000	$	1,833	$	440	$	1,393	
Office Supplies	$	130	$	119	$	3	$	116	
Property Appraiser Fee	$	300	$	347	$	347	$	-	
Property Taxes	$	80	$	80	$	10	$	70	
Meeting Room	$	1,674	$	1,535	$	425	$	1,110	
Dues, Licenses & Subscriptions	$	175	$	175	$	175	$	-	
Total General & Administrative:	$	127,176	$	111,385	$	82,063	$	29,322	

	Adopted	Prorated Budget	Actual		
	Budget	Thru 08/31/23	Thru 08/31/23	Variance	

Operations and Maintenance Expenses					
Field Operations					
Property Insurance	$	8,718	$	8,718	$	7,889	$	829	
Electric	$	9,689	$	9,689	$	10,704	$	(1,016)	
Streetlights	$	112,151	$	102,805	$	96,907	$	5,898	
Utility-Water and Sewer	$	85,000	$	85,000	$	106,229	$	(21,229)	
Landscape Maintenance	$	113,400	$	113,400	$	206,194	$	(92,794)	
Landscape Enhancements	$	50,000	$	22,500	$	-	$	22,500	
Landscape Irrigation	$	6,500	$	5,958	$	2,730	$	3,228	
Lawn Mowing/Trimming	$	27,720	$	25,410	$	12,600	$	12,810	
Lake Maintenance	$	37,321	$	37,321	$	42,463	$	(5,142)	
Contingency	$	7,370	$	6,756	$	3,700	$	3,056	
Total Operations and Maintenance:	$	457,868	$	417,556	$	489,416	$	(71,860)	
					
Total Expenditures	$	585,044	$	528,941	$	571,479	$	(42,538)	
					
Excess Revenues (Expenditures)	$	(0)		$	31,979		
					
Fund Balance - Beginning	$	-		$	64,931		
					
Fund Balance - Ending	$	(0)		$	96,909		

Revenues					
Assessments - Tax Roll	$	1,125,001	$	1,125,001	$	1,138,987	$	13,986	
Interest	$	500	$	500	$	70,703	$	70,203	
Total Revenues	$	1,125,501	$	1,125,501	$	1,209,690	$	84,189	

Expenditures:					
Interest - 11/01	$	429,116	$	429,116	$	429,116	$	(0)	
Principal - 11/01	$	265,000	$	265,000	$	265,000	$	-	
Interest - 05/01	$	423,153	$	423,153	$	423,153	$	-	
Total Expenditures	$	1,117,269	$	1,117,269	$	1,117,269	$	(0)	

Other Financing Sources/(Uses)					
Transfer In/Out	$	-	$	-	$	(4,740)	$	(4,740)	
Total Other Financing Sources (Uses)	$	-	$	-	$	(4,740)	$	(4,740)	
					
Excess Revenues (Expenditures)	$	8,233		$	87,681		
					
Fund Balance - Beginning	$	810,612		$	1,957,490		
					
Fund Balance - Ending	$	818,844		$	2,045,171		

Revenues					
Assessments - On Roll	$	366,750	$	366,750	$	371,310	$	4,560	
Assessments - Direct	$	533,197	$	533,197	$	533,197	$	-	
Interest	$	500	$	500	$	46,026	$	45,526	
Total Revenues	$	900,447	$	900,447	$	950,533	$	50,085	

Expenditures:					
Interest - 11/01	$	342,063	$	342,063	$	342,063	$	-	
Principal - 11/01	$	215,000	$	215,000	$	215,000	$	-	
Interest - 05/01	$	337,359	$	337,359	$	337,359	$	-	
Total Expenditures	$	894,422	$	894,422	$	894,422	$	-	

Other Financing Sources/(Uses)					
Transfer in/Out	$	-	$	-	$	(3,793)	$	(3,793)	
Total Other Financing Sources (Uses)	$	-	$	-	$	(3,793)	$	(3,793)	
					
Excess Revenues (Expenditures)	$	6,025		$	52,318		
					
Fund Balance - Beginning	$	601,733		$	1,506,510		
					
Fund Balance - Ending	$	607,758		$	1,558,828		

Revenues					
Interest	$	-	$	-	$	30,138	$	30,138	
Total Revenues	$	-	$	-	$	30,138	$	30,138	

Expenditures:					
Interest - 11/01	$	-	$	-	$	-	$	-	
Principal - 11/01	$	-	$	-	$	-	$	-	
Interest - 05/01	$	-	$	-	$	213,985	$	(213,985)	
Total Expenditures	$	-	$	-	$	213,985	$	(213,985)	

Other Financing Sources/(Uses)					
Transfer in/Out	$	-	$	-	$	4	$	4	
Bond Proceed	$	-	$	-	$	1,032,394	$	1,032,394	
Total Other Financing Sources (Uses)	$	-	$	-	$	1,032,398	$	1,032,398	
					
Excess Revenues (Expenditures)	$	-	$	848,551		
					
Fund Balance - Beginning	$	-	$	-		
					
Fund Balance - Ending	$	-	$	848,551		

Revenues

Interest	

$	

-	$	

-	$	218	

$	218	
Total Revenues	$	-	$	-	$	218	$	218	

Expenditures:

Capital Outlay	

$	

-	$	

-	$	-	

$	-	
Total Expenditures	$	-	$	-	$	-	$	-	

Other Financing Sources/(Uses)					
Transfer In/Out	$	-	$	-	$	4,740	$	4,740	
Total Other Financing Sources (Uses)	$	-	$	-	$	4,740	$	4,740	
					
Excess Revenues (Expenditures)	$	-	$	4,959		
					
Fund Balance - Beginning	$	-	$	1,403		
					
Fund Balance - Ending	$	-	$	6,362		

Revenues

Interest	

$	

-	$	

-	$	103	

$	103	
Total Revenues	$	-	$	-	$	103	$	103	

Expenditures:

Capital Outlay	

$	

-	$	

-	$	1,630	

$	(1,630)	
Total Expenditures	$	-	$	-	$	1,630	$	(1,630)	

Other Financing Sources/(Uses)					
Transfer In/Out	$	-	$	-	$	3,793	$	3,793	
Total Other Financing Sources (Uses)	$	-	$	-	$	3,793	$	3,793	
					
Excess Revenues (Expenditures)	$	-	$	2,266		
					
Fund Balance - Beginning	$	-	$	166		
					
Fund Balance - Ending	$	-	$	2,431		

Revenues					
Interest	$	-	$	-	$	20,919	$	20,919	
Total Revenues	$	-	$	-	$	20,919	$	20,919	

Expenditures:					
Capital Outlay - Construction	$	-	$	-	$	6,240,533	$	(6,240,533)	
Capital Outlay - COI	$	-	$	-	$	335,450	$	(335,450)	
Total Expenditures	$	-	$	-	$	6,575,983	$	(6,575,983)	

Other Financing Sources/(Uses)					
Transfer In/Out	$	-	$	-	$	(4)	$	(4)	
Bond Proceed	$	-	$	-	$	6,556,215	$	6,556,215	
Total Other Financing Sources (Uses)	$	-	$	-	$	6,556,211	$	6,556,211	
					
Excess Revenues (Expenditures)	$	-	$	1,147		
					
Fund Balance - Beginning	$	-	$	-		
					
Fund Balance - Ending	$	-	$	1,147		

	Oct	Nov	Dec	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Total	

Revenues														
Assessments - On Roll	$	-	$	48,276	$	177,278	$	18,097	$	21,510	$	13,926	$	42,021	$	7,377	$	7,129	$	61	$	-	$	-  $	335,675	
Assessments - Direct	$	-	$	-	$	-	$	44,007	$	60,010	$	22,004	$	-	$	52,008	$	-	$	-	$	30,005	$	-  $	208,033	
Developer Contributions	$	33,201	$	26,549	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	59,750	
Total Revenues	$	33,201	$	26,549	$	-	$	44,007	$	60,010	$	22,004	$	-	$	52,008	$	-	$	-	$	30,005	$	-  $	603,458	

Expenditures:														

General & Administrative:														

Supervisor Fees	
$	1,400	
$	800	
$	-	
$	-	
$	800	
$	-	
$	1,000	
$	-	
$	1,000	
$	-	
$	-	
$	-  $	
5,000	
FICA Expense	$	107	$	61	$	-	$	-	$	61	$	-	$	77	$	-	$	77	$	-	$	-	$	-  $	383	
Engineering	$	-	$	-	$	-	$	-	$	-	$	200	$	94	$	-	$	406	$	-	$	-	$	-  $	700	
Attorney	$	1,185	$	-	$	327	$	-	$	155	$	771	$	-	$	937	$	-	$	283	$	1,010	$	-  $	4,668	
Arbitrage	$	-	$	-	$	900	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	900	
Dissemination	$	583	$	583	$	667	$	667	$	667	$	667	$	667	$	667	$	667	$	667	$	667	$	-  $	7,167	
Assessment Administration	$	10,000	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-		$	-	$	-  $	10,000	
Annual Audit	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-	
Trustee Fees	$	7,000	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	7,000	
Management Fees	$	3,154	$	3,154	$	3,154	$	3,154	$	3,154	$	3,154	$	3,154	$	3,154	$	3,154	$	3,154	$	3,154	$	-  $	34,699	
Information Technology	$	83	$	83	$	83	$	83	$	83	$	83	$	83	$	83	$	83	$	83	$	83	$	-  $	917	
Website Maintenance	$	50	$	50	$	50	$	50	$	50	$	50	$	50	$	50	$	50	$	50	$	50	$	-  $	545	
Telephone	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-	
Postage	$	25	$	45	$	6	$	1	$	77	$	18	$	24	$	7	$	28	$	842	$	4	$	-  $	1,077	
Insurance	$	6,885	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	6,885	
Printing & Binding	$	51	$	-	$	40	$	-	$	-	$	7	$	6	$	-	$	26	$	-	$	-	$	-  $	129	
Legal Advertising	$	196	$	-	$	-	$	-	$	-	$	-	$	54	$	-	$	-	$	343	$	-	$	-  $	593	
Other Current Charges	$	39	$	39	$	39	$	38	$	39	$	44	$	39	$	39	$	47	$	39	$	38	$	-  $	440	
Office Supplies	$	0	$	1	$	0	$	0	$	1	$	0	$	0	$	0	$	0	$	0	$	0	$	-  $	3	
Property Appraiser Fee	$	-	$	-	$	-	$	-	$	-	$	347	$	-	$	-	$	-	$	-	$	-	$	-  $	347	
Property Taxes	$	-	$	10	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	10	
Meeting Room	$	-	$	142	$	-	$	-	$	142	$	-	$	-	$	-	$	-	$	-	$	142	$	-  $	425	
Dues, Licenses & Subscriptions	$	175	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	175	
Total General & Administrative:	$	30,934	$	4,968	$	5,267	$	3,993	$	5,229	$	5,342	$	5,247	$	4,937	$	5,537	$	5,461	$	5,148	$	-  $	82,063	

	Oct	Nov	Dec	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Total	

Operations and Maintenance Expenses														
Field Operations														
Property Insurance	$	7,889	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	7,889	
Utility - Electric	$	906	$	741	$	721	$	944	$	1,148	$	1,007	$	993	$	1,079	$	977	$	1,088	$	1,099	$	-  $	10,704	
Streetlights	$	8,689	$	8,701	$	8,701	$	8,725	$	8,842	$	8,842	$	8,849	$	8,890	$	8,890	$	8,890	$	8,890	$	-  $	96,907	
Utility - Water & Sewer	$	9,259	$	7,174	$	11,192	$	6,961	$	11,006	$	12,653	$	9,611	$	23,797	$	46	$	3,180	$	11,352	$	-  $	106,229	
Landscape Maintenance	$	9,450	$	9,450	$	9,450	$	9,450	$	9,450	$	23,508	$	28,008	$	22,370	$	22,370	$	27,370	$	35,320	$	-  $	206,194	
Landscape Enhancements	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-	
Landscape Irrigation	$	-	$	595	$	240	$	170	$	439	$	368	$	148	$	-	$	323	$	448	$	-	$	-  $	2,730	
Lawn Mowing/Trimming	$	2,200	$	2,200	$	2,200	$	2,200	$	2,200	$	-	$	1,600	$	-	$	-	$	-	$	-	$	-  $	12,600	
Lake Maintenance	$	4,927	$	5,629	$	3,100	$	3,100	$	2,639	$	3,100	$	4,927	$	3,100	$	3,100	$	5,027	$	3,815	$	-  $	42,463	
Contingency	$	-	$	2,075	$	-	$	-	$	-	$	-	$	1,625	$	-	$	-	$	-	$	-	$	-  $	3,700	
Total Operations and Maintenance Expenses	$	43,321	$	36,565	$	35,604	$	31,549	$	35,724	$	49,476	$	55,760	$	59,236	$	35,705	$	46,003	$	60,475	$	-  $	489,416	
														
Total Expenditures	$	74,255	$	41,533	$	40,870	$	35,542	$	40,953	$	54,818	$	61,006	$	64,173	$	41,242	$	51,464	$	65,624	$	-  $	571,479	
														
Excess Revenues (Expenditures)	$	(41,054)	$	(14,984)	$	(40,870)	$	8,465	$	19,057	$	(32,814)	$	(61,006)	$	(12,165)	$	(41,242)	$	(51,464)	$	(35,619)	$	-  $	31,979	
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Receipts Fiscal Year 2023

	Gross Assessments	$  352,716.00	$ 1,196,810.00	$	390,160.06	$ 1,939,686.06	
	Net Assessments	$  331,553.04	$ 1,125,001.40	$	366,750.46	$ 1,823,304.90	
ON ROLL ASSESSMENTS		
18.18%	
61.70%	
20.11%	
100.00%	

Date	
Distribution	
Gross Amount	
Commissions	
Discount/Penalty	
Interest	
Net Receipts	
O&M Portion	2016 Debt Service	2018 Debt Service	
Total	

11/18/22	
ACH	
$7,276.00	
($145.50)	
($374.37)	
$0.00	
$6,756.13	
$1,228.55	
$4,168.61	
$1,358.97	
$6,756.13	
11/22/22	ACH	$275,008.28	($5,500.14)	($10,780.61)	$0.00	$258,727.53	$47,047.48	$159,638.05	$52,042.00	$258,727.53	
12/09/22	ACH	$950,826.50	($19,016.57)	($37,272.42)	$0.00	$894,537.51	$162,664.31	$551,940.57	$179,932.63	$894,537.51	
12/22/22	ACH	$84,842.98	($1,696.82)	($2,781.17)	$0.00	$80,364.99	$14,613.72	$49,586.18	$16,165.09	$80,364.99	
01/10/23	ACH	$4,326.78	($86.53)	($127.20)	$0.00	$4,113.05	$747.93	$2,537.80	$827.32	$4,113.05	
01/10/23	ACH	$99,471.08	($1,989.43)	($2,924.49)	$0.00	$94,557.16	$17,194.45	$58,342.92	$19,019.79	$94,557.16	
01/24/23	ACH	$0.00	$0.00	$0.00	$850.92	$850.92	$154.73	$525.03	$171.16	$850.92	
02/09/23	ACH	$812.09	($16.24)	$0.00	$0.00	$795.85	$144.72	$491.05	$160.08	$795.85	
02/09/23	ACH	$122,876.04	($2,457.50)	($2,924.43)	$0.00	$117,494.11	$21,365.34	$72,495.30	$23,633.47	$117,494.11	
03/10/23	ACH	$78,991.74	($1,579.83)	($831.55)	$0.00	$76,580.36	$13,925.51	$47,251.02	$15,403.83	$76,580.36	
04/11/23	ACH	$4,332.91	($86.66)	$0.00	$0.00	$4,246.25	$772.14	$2,619.99	$854.12	$4,246.25	
04/11/23	ACH	$230,860.64	($4,617.21)	$0.00	$0.00	$226,243.43	$41,140.51	$139,594.96	$45,507.96	$226,243.43	
04/24/23	ACH	$0.00	$0.00	$0.00	$594.75	$594.75	$108.15	$366.97	$119.63	$594.75	
05/10/23	ACH	$40,958.68	($819.17)	$430.07	$0.00	$40,569.58	$7,377.25	$25,031.93	$8,160.41	$40,569.59	
06/12/23	ACH	$805.94	($16.60)	$24.18	$0.00	$813.52	$147.93	$501.95	$163.64	$813.52	
06/12/23	ACH	$14,628.10	($301.34)	$438.85	$0.00	$14,765.61	$2,685.01	$9,110.56	$2,970.04	$14,765.61	
06/16/23	ACH	$23,404.96	($482.14)	$0.00	$702.16	$23,624.98	$4,296.01	$14,576.90	$4,752.07	$23,624.98	
07/27/23	ACH	$0.00	$0.00	$0.00	$336.14	$336.14	$61.13	$207.40	$67.61	$336.14	

DIRECT BILL ASSESSMENTS

Rolling Oaks Splendid, LLC Invoice# 2023-01				
Total	
$120,019.20	
$533,197.15	
Date
Received	Due
Date	Check
Number	Net
Assessed	Amount
Received	Operations &
Maintenance	Series 2018
Debt	
2/20/23	12/1/22	19931	$326,608.17	$326,608.17	$60,009.60	$266,598.57	
5/11/23	2/1/23	821	$163,304.07	$163,304.09	$30,004.80	$133,299.29	
8/31/23	5/1/23	989	$163,304.09	$163,304.09	$30,004.80	$133,299.29	
			$653,216.33	$653,216.35	$120,019.20	$533,197.15	

Rolling Oaks Apartments, LLC Invoice# 2023-02				
Total		
$88,014.08	
Date
Received	Due
Date	Check
Number	Net
Assessed	Amount
Received	Operation &
Maintenance		
1/5/23	12/1/22	382	$44,007.04	$44,007.04	$44,007.04		
2/24/23	2/1/23	819	$22,003.52	$22,003.52	$22,003.52		
5/24/23	5/1/23	1356	$22,003.52	$22,003.52	$22,003.52		
			$88,014.08	$88,014.08	$88,014.08		
Rolling Oaks
Community Development District LONG TERM DEBT REPORT

SERIES 2016, SPECIAL ASSESSMENT 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	$1,147,795	
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)	
LESS: PRINCIPAL PAYMENT 11/1/21	($255,000)	
LESS: PRINCIPAL PAYMENT 11/1/22	($265,000)	
CURRENT BONDS OUTSTANDING	$14,430,000	

SERIES 2018, SPECIAL ASSESSMENT BONDS		

INTEREST RATES:	
4.375%, 4.875%, 5.375%, 5.500%	
MATURITY DATE:	11/1/2049	
RESERVE FUND DEFINITION	MAXIMUM ANNUAL DEBT SERVICE	
RESERVE FUND REQUIREMENT	$899,831	
RESERVE FUND BALANCE	$918,301	
BONDS OUTSTANDING - 11/8/18	$13,160,000	
LESS: PRINCIPAL PAYMENT 11/1/20	($195,000)	
LESS: PRINCIPAL PAYMENT 11/1/21	($205,000)	
LESS: PRINCIPAL PAYMENT 11/1/22	($215,000)	
CURRENT BONDS OUTSTANDING	$12,545,000	

SERIES 2022, SPECIAL ASSESSMENT BONDS		

INTEREST RATES:	
5.7%, 6.3%, 6.55%	
MATURITY DATE:	5/1/2053	
RESERVE FUND DEFINITION	MAXIMUM ANNUAL DEBT SERVICE	
RESERVE FUND REQUIREMENT	$576,163	
RESERVE FUND BALANCE	$587,975	
BONDS OUTSTANDING - 11/22/22	$7,635,000	
CURRENT BONDS OUTSTANDING	$7,635,000	

Date	Requisition #	Contractor	Description	Requisitions	
Fiscal Year 2022					
		TOTAL		$	-	

Fiscal Year 2022					
10/1/21		Transfer		$	56.70	
10/1/21		Interest		$	0.01	
11/1/21		Interest		$	0.01	
12/1/21		Interest		$	0.02	
1/1/22		Interest		$	0.01	
2/1/22		Interest		$	0.01	
3/1/22		Interest		$	0.01	
4/1/22		Interest		$	0.07	
4/1/22		Transfer		$	67.03	
5/1/22		Interest		$	0.16	
6/1/22		Interest		$	0.61	
7/1/22		Interest		$	1.06	
8/1/22		Interest		$	1.61	
9/1/22		Interest		$	2.37	
		TOTAL		$	129.68	

Acquisition/Construction Fund at 09/30/2021	
$	
1,273.29			
Interest Earned and Transfer In thru 09/30/22	$	129.68			
Requisitions Paid thru 09/30/22	$	-			

Remaining Acquisition/Construction Fund	 $	1,402.97 

Date	Requisition #	Contractor	Description	Requisitions Fiscal Year 2023

TOTAL	$	-		

Fiscal Year 2023			
10/1/22	Transfer	$	4,740.48	
10/1/22	Interest	$	2.66	
11/1/22	Interest	$	7.47	
12/1/22	Interest	$	17.58	
1/1/23	Interest	$	20.21	
2/1/23	Interest	$	21.81	
3/1/23	Interest	$	21.13	
4/1/23	Interest	$	24.03	
5/1/23	Interest	$	24.28	
6/1/23	Interest	$	26.39	
7/1/23	Interest	$	25.85	
8/1/23	Interest	$	27.03	
	TOTAL	$	4,958.92	

Acquisition/Construction Fund at 09/30/2022	
$	
1,402.97	
Interest Earned and Transfer In thru 08/31/23	$	4,958.92	
Requisitions Paid thru 08/31/23	$	-	

Remaining Acquisition/Construction Fund	 $	6,361.89 

Date	Requisition #	Contractor	Description	Requisitions Fiscal Year 2022

12/1/21	5	Rolling Oaks Splendid, LLC	Public facility roadway, drainage, and utility infrastructure	$  2,281,083.53	
		TOTAL		$ 2,281,083.53	

Fiscal Year 2022					
10/1/21		Transfer		$	45.36	
10/1/21		Interest		$	18.75	
11/1/21		Interest		$	19.38	
12/1/21		Interest		$	41.56	
1/1/22		Interest		$	5.00	
2/1/22		Interest		$	-	
3/1/22		Interest		$	-	
4/1/22		Interest		$	0.01	
4/1/22		Interest		$	53.62	
5/1/22		Interest		$	0.02	
6/1/22		Interest		$	0.07	
7/1/22		Interest		$	0.13	
8/1/22		Interest		$	0.19	
9/1/22				$	0.28	
		TOTAL		$	184.37	
			
Acquisition/Construction Fund at 09/30/21 Interest Earned 09/30/22
Requisitions Paid thru 09/30/22	
$ 2,281,064.78
$	184.37
$ (2,281,083.53)	
			Remaining Acquisition/Construction Fund	 $	165.62 	
Date	Requisition #	Contractor	Description	Requisitions	
Fiscal Year 2023					
2/28/23	1/6/00	Rolling Oaks CDD	Reimburse RO O&M Ithink Graphics Invoice # 78762 - Custom Wildlife Signs	6/16/04	
		TOTAL		$	1,629.98	

Fiscal Year 2023					
10/1/22		Transfer		$	3,792.52	
10/1/22		Interest		$	0.31	
11/1/22		Interest		$	3.67	
12/1/22		Interest		$	11.32	
1/1/23		Interest		$	13.01	
2/1/23		Interest		$	14.04	
3/1/23		Interest		$	12.21	
4/1/23		Interest		$	9.18	
5/1/23		Interest		$	9.28	
6/1/23		Interest		$	10.09	
7/1/23		Interest		$	9.88	
8/1/23		Interest		$	10.33	
		TOTAL		$	3,895.84	
			
Acquisition/Construction Fund at 09/30/22	
$	165.62	
			Interest Earned 08/31/23	$	3,895.84	
			Requisitions Paid thru 08/31/23	$	(1,629.98)	
			Remaining Acquisition/Construction Fund	 $	2,431.48 	
Rolling Oaks
Community Development District

Special Assessment Bonds, Series 2022

Date	Requisition #	Contractor	Description	Requisitions	
Fiscal Year 2023				
12/31/22	2	Rolling Oaks Splendid, LLC	Reimbursement	$ 5,776,399.78	
2/21/23	3	Rolling Oaks Splendid, LLC	Reimbursement	$	464,133.56	
		TOTAL	$	6,240,533.34	

Fiscal Year 2023				
12/1/22		Interest	$	5,457.83	
1/1/23		Interest	$	12,684.83	
2/1/23		Interest	$	1,625.30	
3/1/23		Interest	$	1,124.42	
4/1/23		Interest	$	4.20	
5/1/23		Interest	$	4.38	
6/1/23		Interest	$	4.76	
7/1/23		Interest	$	4.66	
8/1/23		Interest	$	4.87	
		TOTAL	$	20,915.25	
		
Acquisition/Construction Fund at 11/22/2022	
$	6,220,765.38	
		Interest Earned 06/30/23	$	20,915.25	
		Requisitions Paid thru 06/30/23	$  (6,240,533.34)	
		Remaining Acquisition/Construction Fund	 $	1,147.29