TERRACINA COMMUNITY DEVELOPMENT
DISTRICT

PALM BEACH COUNTY REGULAR BOARD MEETING MARCH 4, 2026
9:00 A.M.

Special District Services, Inc.
The Oaks Center 2501A Burns Road
Palm Beach Gardens, FL 33410
www.terracinacdd.org 561.630.4922 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA
TERRACINA COMMUNITY DEVELOPMENT DISTRICT
Meeting Room of the Nexus at Vista Park 2101 Vista Parkway
West Palm Beach, Florida 33411
REGULAR BOARD MEETING
March 4, 2026
9:00 a.m.

Call to Order
Proof of Publication…	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
December 10, 2025 Regular Board Meeting Minutes…	Page 2
Old Business
Discussion Regarding Lake Erosion
a. Consider Approval of Lake Erosion Proposals…	Page 5
New Business
Consider Resolution No. 2026-01 – Adopting a Fiscal Year 2026-2027 Proposed Budget. Page 16
Administrative Matters
Financial Report…	Page 23
Board Member Comments
Adjourn

AFFIDAVIT OF PUBLICATION

LOCALiQ
The Gainesville Sun I The Ledger
Daily Commercial I Ocala StarBanner News Chief I Herald-Tribune
News Herald I The  Palm Beach Post
Northwest Florida Daily News

PO Box 631244 Cincinnati, OH 45263-1244

TERRACINA COMMUNITY DEVELOPMENT DISTRICT

Terracina Cdd Terracina Cdd 2501 BURNS RD STEA

PALM BEACH GARDENS FL 334105207

STATE OF WISCONSIN, COUNTY OF BROWN

Before the undersigned authority personally appeared, who on oath says that he or she is the Legal Coordinator of the Palm Beach Post, published in Palm Beach County, Florida; that the attached copy of advertisement, being a Public Notices, was published on the publicly accessible website of Palm Beach County, Florida, or in a newspaper by print in the issues of, on:

WPB Palm Beach Post	09/24/2025 WPB palmbeachpost.com 09/24/2025

Affiant further says that the website or newspaper complies with all legal requirements for publication in chapter 50, Florida Statutes.

--

Subscribed and sworn to before me, by the legal clerk, who is personally known to me, on 09/24/2025

�

Legal Clerk
Notary,   Stat�ortrmvnJ
	�-l-l---1	

Publication Cost:	$246.11	
Tax Amount:	$0.00	
Payment Cost:	$246.11	
Order No:	11671265	
Customer No:	730524	
PO#:		

My commission expires

# of Copies:
1

THIS lS NOT AN fNVOICE!
Please do 110/ use tl11sformfor payment remilla11ce.

FISCAL YEAR 2025/2026 REGULAR MEETING SCHEDULE
NOTICE IS HEREBY GIVEN that the
Board of Supervisors of the Terracina Community Development District will hold Regular Meetings at 9:00 a.m. in a Meeting Room of The Nexus at Vista Park located at 2101 Vista Parkway, West Palm Beach, Florida 33411, on the following dates:
October 8, 2025
November 12, 2025
December 10, 2025
January 14, 2026
February 11, 2026
March 4, 2026
April B, 2026
May 13, 2026
June 10, 2026
July 8, 2026
August 12, 2026
September 9, 2026
The purpose of the meetings is to conduct any business coming before the Board. The meetin9s are open to the public and will be conducted in accordance with the provisions of Florida law. Copies of the Agendas for any of the meet-ings may be obtained from the District's website or by contacting the District Manager at (561) 630-
4922 and/or toll free at 1-877-737-4922 prior to the date of the particular meeting.
From time to time one or more Supervisors may participate by telephone; therefore, at the loca-tion of these meetings there will be a speaker telephone present so that interested persons can attend the meetings at the above location and be fully informed of the discus-sions taking place either in person or by telephone communication. Meetings may be continued as found necessary to a time and place specified on the record.
If any person decides to appeal any
!�;its��nc��1de�Jha�e��:�� t:e�� ings, such person will need a record of the proceedings and such person
may need to ensure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testi-mony and evidence on which the appeal is based.
In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at any of these meet-ings should contact the District Manager at (561) 630-4922 and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.
Meetings may be cancelled from time to time without advertised notice.
TERRACINA COMMUNITY DEVEL-
OPMENT DISTRICT
www.terraclnacdd.org 9/24/25 #11671265

KONGMENG YANG
Notary Public State of Wisconsin

Page 1 of 1

TERRACINA COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
DECEMBER 10, 2025

CALL TO ORDER

The December 10, 2025, Regular Board Meeting of the Terracina Community Development District (the “District”) was called to order at 9:04 a.m. in a Meeting Room of the Nexus at Vista Park located at 2101 Vista Parkway, West Palm Beach, Florida 33411.

PROOF OF PUBLICATION

Proof of publication was presented indicating that notice of the Regular Board Meeting had been published in The Palm Beach Post on September 24, 2025, as part of the District’s Fiscal Year 2025/2026 Regular Meeting Schedule, as legally required.

CONSIDER BOARD RESIGNATION

A motion was made by Mr. Esquerete, seconded by Mrs. Colella and unanimously passed approving the acceptance of Mr. Saunders’ resignation.

ESTABLISH A QUORUM
Present and constituting a quorum were Chairman Guy Colella and Supervisors Sheik Ameer, Linda Colella and Jose Esquerete and all was in order to proceed with the meeting.
Staff present included District Manager Jason Pierman of Special District Services, Inc.; and District Counsel Frank Palen of Caldwell Pacetti Edwards Schoech & Viator LLP.

ADDITIONS OR DELETIONS TO THE AGENDA

There were no additions or deletions to the agenda.
COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA
There were no comments from the public for items not on the agenda.
APPROVAL OF MINUTES
September 8, 2025, Regular Board Meeting
The minutes of the September 8, 2025, Regular Board Meeting were presented and the Board was asked if there were any comments or questions.

A motion was made by Mrs. Colella, seconded by Mr. Esquerete and unanimously passed approving the minutes of the September 8, 2025, Regular Board Meeting, as presented.

OLD BUSINESS

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

NEW BUSINESS
Consider Resolution No. 2025-06 – Goals and Objectives Annual Report

Resolution No. 2025-06 was presented, entitled:

RESOLUTION NO. 2025-06

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TERRACINA COMMUNITY DEVELOPMENT DISTRICT ADOPTING AN ANNUAL REPORT OF GOALS, OBJECTIVES, AND PERFORMANCE MEASURES AND STANDARDS; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

Ms. Bethel reviewed the goals and objectives with the Board.

A motion was made by Mr. Esquerete, seconded by Mr. Ameer and unanimously passed adopting Resolution No. 2025-06 – Goals and Objectives Annual Report, as presented.

Discussion Regarding Lake Erosion

Ms. Bethel stated that she had received an email from the HOA regarding the erosion around the lake. Ms. Bethel reached out to the engineer; he sent the specifications to his contacts and Ms. Bethel directed the Board to review the proposals. A lengthy discussion ensued. The Board would like Landshore Enterprises LLC to provide answers to a few questions. Ms. Bethel stated that Badger was charging to provide an erosion proposal.
A motion was made by Mr. Esquerete, seconded by Mrs. Colella and unanimously passed approving the Badger Underground, LLC proposal in the amount of $900.00 to provide a full proposal for the lake erosion.

Consider Proposals for Inspection and General Maintenance of the Weirs
Ms. Bethel advised that she had done a walkthrough with the engineer and the vendor and went over the Board’s concerns about the weirs. He stated that the weirs did not need to be checked. The community irrigates from the lake and water evaporates from the lakes, but rain would replenish the lakes.
ADMINISTRATIVE MATTERS
Financial Report

Mr. Colella went over the financial report with the Board. He asked Ms. Bethel to set up a call with the finance director to discuss a few items in the report.

Ms. Bethel reminded the Board about the ethics training due by December 31st.

BOARD MEMBER COMMENTS

There were no further comments.

ADJOURNMENT

There being no further business to come before the Board, a motion was made by Mr. Esquerete, seconded by Mr. Ameer adjourning the Regular Board Meeting at 9:48 a.m. Upon being put to a vote, the motion carried unanimously.

Secretary/Assistant Secretary	Chair/Vice-Chair

Landshore Enterprises, LLC
Soil Erosion Control & Shoreline Restoration Experts
Shoreline stabilization/Environmental Engineering/Construction Management
d/b/a Erosion Restoration, LLC

Terracina Community Development District c/o: Special District Services
Attn.: Ms. Sylvia Bethel 2501A Burns Road
Palm Beach Gardens, FL 33410

Estimates for Lake Bank Restoration Project

Submitted via email: sbethel@sdsinc.org Submitted on: January 16, 2026

118 Shamrock Blvd., Venice, FL 34293   � Tel: (941) 303-5238   � Fax: (941) 218-6113
6555 North Powerline Road, Suite 302, Fort Lauderdale, Florida, 33309  	� Tel: (954) 327-3300  � Fax: (954) 533-1556
@ Email: info@landshore.com	Website: www.landshore.com
Landshore® 1 of 5

January 16, 2026

Landshore Enterprises, LLC
Soil Erosion Control & Shoreline Restoration Experts
Shoreline stabilization/Environmental Engineering/Construction Management
d/b/a Erosion Restoration, LLC

Terracina Community Development District c/o: Special District Services
Attn.: Ms. Sylvia Bethel 2501A Burns Road
Palm Beach Gardens, FL 33410

Re:	Estimates for Lake Bank Restoration Project

Dear Ms. Bethel,

Enclosed is Landshore Enterprises, LLC (“Landshore®”, “we”, “our”) estimates for the Lake Bank Restoration within the Terracina CDD.

Landshore® is a national turnkey design-build environmental firm specializing in shoreline erosion control, shoreline repair, and restoration services. The company is located in Fort Lauderdale and is headquartered in Venice, Florida. Landshore® has extensive experience providing cost-effective and sustainable shoreline stabilization solutions utilizing structural & non-structural, bioengineering, and biotechnical methodologies tailored to site-specific conditions.
Company Information and Qualifications Headquarters: 118 Shamrock Blvd., Venice, FL 34293
Additional Office: 6555 N. Powerline Road, Suite 302, Fort Lauderdale, FL 33309

Telephone: (941) 303-5238, and (954) 327-3300

Year Established: 2002

Federal Employer Identification Number (FEIN): 03-0479268
Business Structure: Limited Liability Company (LLC)

Landshore Enterprises, LLC
Soil Erosion Control & Shoreline Restoration Experts
Shoreline stabilization/Environmental Engineering/Construction Management
d/b/a Erosion Restoration, LLC

Liability Insurance: We maintain comprehensive commercial general liability, workers’ compensation, and vehicle liability insurance that meets or exceeds statutory requirements and industry standards.

Employees Assigned to This Project: The project team will consist of approximately 2-3 personnel, including:
1 Field Manager
1–2 Field Erosion Specialists
The exact staffing levels will be adjusted to meet project requirements and schedule demands.

Core Service Capabilities
Shoreline erosion control and stabilization
Shoreline restoration and repair
Bioengineered and biotechnical shoreline systems
Design-build erosion and sedimentation control
Maintenance and rehabilitation of shorelines and embankments

Client Base
Our primary clients include governmental agencies, special districts, municipalities, homeowners associations, and golf course communities. We have a proven track record delivering projects within occupied, environmentally sensitive, and regulated settings.

Landshore Enterprises, LLC
Soil Erosion Control & Shoreline Restoration Experts
Shoreline stabilization/Environmental Engineering/Construction Management
d/b/a Erosion Restoration, LLC

Estimates for Lake Bank Restoration Project

Bid Schedule

Item	
Unit	
Measurement	
TOTAL COST	
Lake 1	LF	2,043	$136,901.43	
Lake 2	LF	1,498	$100,380.98	
Lake 3	LF	2,146	$143,803.46	
Lake 4	LF	1,682	$112,710.82	
Lake 5	LF	2,136	$143,133.36	
Lake 6	LF	2,039	$136,633.39	
Lake 7	LF	1,080	$72,370.80	
Lake 8	LF	1,639	$109,829.39	
Lake 9	LF	1,190	$79,741.90	
Lake 10	LF	1,602	$107,350.02	
Lake 11	LF	3,239	$217,045.39	
Lake 12	LF	2,674	$179,184.74	

Special Conditions:
Shoreline escarpments exceeding 12 inches in depth require an additional Supporting Tube layer to comply with SFWMD slope and step-down standards. Supporting Tubes are installed beneath the base EFT to provide structural stability. Estimated cost: $28.00 per linear foot, applied only where required based on field conditions.

An engineering study is highly recommended.
Engineering cost for one (1) lake (if conducted in phases): $5,000.00. Engineering costs for all twelve (12) lakes: $50,000.000.

118 Shamrock Blvd., Venice, FL 34293   � Tel: (941) 303-5238   � Fax: (941) 218-6113
6555 North Powerline Road, Suite 302, Fort Lauderdale, Florida, 33309  	� Tel: (954) 327-3300  � Fax: (954) 533-1556
@ Email: info@landshore.com	Website: www.landshore.com
Landshore® 4 of 5

Landshore Enterprises, LLC
Soil Erosion Control & Shoreline Restoration Experts
Shoreline stabilization/Environmental Engineering/Construction Management
d/b/a Erosion Restoration, LLC

The Risks of Skipping Engineering
If a proper analysis reveals that the underwater shelf is insufficient, the project could require more product than originally estimated. For example, one section may require two layers of stabilization material, while another may require three due to slope or depth. Without this knowledge upfront, the project risks:
Insufficient materials leading to erosion above the installation.
Unexpected change orders once issues are uncovered mid-project.
Stretching materials beyond design limits to “make it work.” None of these outcomes result in a durable, long-term solution.

What Proper Engineering Provides:
Engineering ensures a long-lasting shoreline restoration by evaluating key factors such as:
Water level fluctuations (control elevations, high and low).
The sufficiency of the underwater shelf.
Soil bearing capacity for product stability and slope design.
Suitability of lake material for restoration efforts.
Root causes of erosion, such as downspouts or shelf collapse.
With these insights, we can recommend the best products and installation methods, designed specifically for your shoreline, rather than relying on one-size-fits-all solutions.

Thank you for the opportunity to provide you with these estimates. If you would like to move forward with any of these estimates, please let us know and we will prepare a formal contract.

If you have any questions, please don’t hesitate to contact us.
(941) 303-5238; (954) 327-3300; or via email at: Info@landshore.com We are looking forward to the pleasure of doing business with you.
Kind regards, Richard C. Paolillo
Chief Commercial Officer

118 Shamrock Blvd., Venice, FL 34293   � Tel: (941) 303-5238   � Fax: (941) 218-6113
6555 North Powerline Road, Suite 302, Fort Lauderdale, Florida, 33309  	� Tel: (954) 327-3300  � Fax: (954) 533-1556
@ Email: info@landshore.com	Website: www.landshore.com
Landshore® 5 of 5

Quote No:	BPBUC26 - 003	

BID PROPOSAL FORM

Option:	N/A

Revision No.	A.1

PROJECT INFORMATION:
Title Address
City, State, Zip

Infrastructure Improvements (Erosion Control) Terracina Community
West Palm Beach, FL 33413, United States

BID REQUESTOR'S COMPANY INFORMATION:	SUBCONTRACTOR'S COMPANY INFORMATION:

Company	Terracina Community Development District	Company Contact/Title	 Sylvia Bethel	Contact/Title
Address	2501 A Burns Rd	Address

City, State, Zip	Rd Palm Beach Gardens, FL 33410	City, State, Zip Phone	561-630-4922	Phone
Email	sdsinc.org	Email License No.

Badger Underground Construction LLC. Richard Dacres / President
1645 Palm Beach Lakes Blvd., Suite 1200, West Palm Beach, FL 33401
561-472-4533

estimating@badgerundergroundllc.com CUC1226375

Attn:	Sylvia Bethel
Badger Underground Construction, LLC. Is proposing to provide all labor, equipment & Materials for Underground
Utility as per scope below.

SCOPE OF WORK:
STORM IMPROVEMENTS

Total Bid Amount:

BID PRICES / COST BREAKDOWN
$	5,450.00
Line Item Bids: Labor, Materials, Equipment
DESCRIPTION	QTY	UNIT	UNIT COST	TOTAL COST	
Cost each Location minimum coverage @ 10x10ft					
Erosion Control 10L X 10W (Mirafi + Riprap + Slope)	1	LS	$	5,450.00	$	5,450.00	
This quotation is valid for thirty (30) calendar days from the date of issuance. Prices, terms, and conditions are subject to change after this period. Acceptance of this quotation beyond the validity period may require a revised quotation to reflect current pricing and terms.

INCLUSION

All erosion control areas shall be identified on a per-lake basis at the commencement of the outfall replacement and associated repair works for each individual lake. This process ensures that all existing eroded areas as of the project start date for each lake are properly documented and included.

Badger Underground shall submit a lake-specific erosion control report upon mobilization to each lake. The report shall include photographic documentation, measured dimensions, and the corresponding total cost of the identified eroded areas.

The scope of riprap and erosion control work includes all required materials, labor, and equipment necessary to complete the work in accordance with project requirements, including but not limited to the following:

Regrading of eroded embankments to restore proper alignment and slope

Installation of non-woven geotextile fabric

Placement of FDOT Class II riprap (6”–12” stone size)

Riprap thickness ranging from 12 to 18 inches

Tying riprap into:
Existing turf line
Normal waterline

Feathering of riprap edges to prevent flanking and future erosion

Typical installation limits of 10 feet along the shoreline by 10 feet upslope, unless otherwise documented and approved

EXCLUSION
Permit Fee & Processing
For additional coverage or other eroded area occurred that are not included on the report are not included.

PAYMENT TERMS:

1Lake-Based Down Payment and Mobilization Payment
Upon approval of report/cost and contract execution, the Owner shall pay one hundred percent (40%) of the approved budget cost on each lake . Mobilization works shall commence only after receipt of this payment.

Payment Upon Inspection (50% Progress)
A progress payment of fifty percent (25%) of the contract value for each lake shall be payable upon completion of 50% of the erosion control works for that lake and after inspection and approval by the Owner or Owner’s authorized representative.

Payment Upon Inspection (100% Job completion)
A progress payment of fifty percent (25%) of the contract value for each lake shall be payable upon completion of 100% of the erosion control works for that lake and after inspection and approval by the Owner or Owner’s authorized representative.

Final Payment / Retainage
The remaining ten percent (10%) balance for each lake shall be payable upon final completion and acceptance of all the the erosion control works for all the lake based on the Badger Underground report.

Termination or Postponement Clause
In the event the contract is terminated, suspended, or postponed for any reason not attributable to the Contractor, the ten percent (10%) retainage for each lake that has already been completed, inspected, and approved shall become immediately due and payable upon issuance of the termination or postponement notice.

Independent Lake Billing
Each lake shall be treated as a separate billing milestone, allowing payments to be processed in smaller, manageable amounts as works progress across the twelve (12) lakes.

Late Payments:
(A 2.5% late fee applies if payment is not received within 14 business days.)
(A 2.5% cancellation fee applies if the proposal is accepted and later withdrawn.)

PROJECT TIMELINE:

Work is expected to begin within (TBA) days after permit approval and be completed within approximately (TBA) weeks, barring unforeseen delays.

CHANGE ORDERS:

Any work not listed in this proposal requires a signed change order and may incur additional charges and timeline adjustments.

SITE ACCESS & UTILITY LOCATES:

The client must provide unobstructed access to the work area. Underground utilities must be located via 811 before excavation.

WEATHER/UNFORESEEN CONDITIONS:

Contractor is not liable for delays caused by weather, material shortages, or conditions beyond its control.

LIEN RIGHTS NOTICE:

Badger Underground Construction, LLC reserves the right to file a construction lien in accordance with Florida law in the event of non-payment.

Thank you for the opportunity to provide this quotation. Should you have any questions or require further clarification regarding this proposal, please do not hesitate to contact us. We look forward to the possibility of working together and bringing this project to fruition.

By signing and delivering this proposal, the Executive expressly acknowledges and agrees that he has had up to twenty-one (21) days before signing and delivering this Agreement to carefully read and fully consider the terms of this Agreement; he has agreed to this Agreement knowingly and voluntarily and was not subjected to any undue influence or duress; he may revoke his acceptance of this Agreement within seven (7) calendar days after he signs and delivers it by sending written notice of revocation in accordance with the notice provisions hereof; and (e) on the eighth calendar day after he signs and delivers this Agreement, this Agreement becomes effective and enforceable.

Richard Dacres
Accepted by	Submitted by
( Authorized Represantive)	(Badger Underground Represantive)

1/9/2026
Date	Date

Customer acknowledges and accepts all information regarding supplied quotation.

Quote No:	BPBUC26 - 002	

BID PROPOSAL FORM

Option:	N/A

Revision No.	A.1

PROJECT INFORMATION:
Title Address
City, State, Zip

Infrastructure Improvements (Damage Outfall Pipes) Terracina Community
West Palm Beach, FL 33413, United States

BID REQUESTOR'S COMPANY INFORMATION:	SUBCONTRACTOR'S COMPANY INFORMATION:

Company	Terracina Community Development District	Company Contact/Title	 Sylvia Bethel	Contact/Title
Address	2501 A Burns Rd	Address

City, State, Zip	Rd Palm Beach Gardens, FL 33410	City, State, Zip Phone	561-630-4922	Phone
Email	sdsinc.org	Email License No.

Badger Underground Construction LLC. Richard Dacres / President
1645 Palm Beach Lakes Blvd., Suite 1200, West Palm Beach, FL 33401
561-472-4533

estimating@badgerundergroundllc.com CUC1226375

Attn:	Sylvia Bethel
Badger Underground Construction, LLC. Is proposing to provide all labor, equipment & Materials for
Underground Utility as per scope below.
SCOPE OF WORK:

STORM IMPROVEMENTS

Total Bid Amount:

BID PRICES / COST BREAKDOWN
$	129,000.00
Line Item Bids: Labor, Materials, Equipment
DESCRIPTION	QTY	UNIT	UNIT COST	TOTAL COST	
Lake 3					
30" CMP Outfall Pipe Excavate and Replace @ 20 LF w/ Erosion ctrl 10' across pipe	1	LS	$  15,500.00	$  15,500.00	
Lake 4					
15" CMP Outfall Pipe Excavate and Replace @ 20 LF w/ Erosion ctrl 10' across pipe	1	LS	$  10,500.00	$  10,500.00	
30" CMP Outfall Pipe Excavate and Replace @ 20 LF w/ Erosion ctrl 10' across pipe	1	LS	$  15,500.00	$  15,500.00	
Lake 8					
30" CMP Outfall Pipe Excavate and Replace @ 20 LF w/ Erosion ctrl 10' across pipe	1	LS	$  15,500.00	$  15,500.00	
Lake 9					
18" CMP Outfall Pipe Excavate and Replace @ 20 LF w/ Erosion ctrl 10' across pipe	1	LS	$  11,750.00	$  11,750.00	
Lake 11					
18" CMP Outfall Pipe Excavate and Replace @ 20 LF w/ Erosion ctrl 10' across pipe	1	LS	$  11,750.00	$  11,750.00	
Lake 12					
24" CMP Outfall Pipe Excavate and Replace @ 20 LF w/ Erosion ctrl 10' across pipe	1	LS	$  13,500.00	$  13,500.00	
~					
Setup Turbidity Barrier, Dewatering & Plugging Pipes	7	EA	$	3,500.00	$  24,500.00	
~					

Mobilization & Miscellaneos				$  10,500.00	
GRAND TOTAL				$ 129,000.00	
ALTERNATE COST					
Additional Coverage per 5foot (15"CMP) w/ Erosion ctrl 10' across pipe	1	LS	$	2,800.00		
Additional Coverage per 5foot (18"CMP) w/ Erosion ctrl 10' across pipe	1	LS	$	3,200.00		
Additional Coverage per 5foot (24"CMP) w/ Erosion ctrl 10' across pipe	1	LS	$	3,600.00		
Additional Coverage per 5foot (30"CMP) w/ Erosion ctrl 10' across pipe	1	LS	$	4,150.00		
This quotation is valid for thirty (30) calendar days from the date of issuance. Prices, terms, and conditions are subject to change after this period. Acceptance of this quotation beyond the validity period may require a revised quotation to reflect current pricing and terms.

INCLUSION

Outfall Pipe to be removal and replacment (Max 20ft only)
Trench Excavation
Removal of Old damage pipes
Installation of New Pipe
Backfilling Trenches
Application of 12" Riprap 10ft across the pipe
Application of Filter fabric (Mirafi cloth) 10ft across the pipe
Top soil to be used existing on site.
Additional dirt if needed to meet the required slope. (10ft across the pipe)
Match Slope embankment 10ft across the pipe
Setup Turbidity Barrier,

All Damage Pipes that are included on the Terracina Report

EXCLUSION
Permit Fee & Processing
For additional coverage alternative unit cost will be added per 5ft increment.
Any additional damaged pipe that are not listed on the report are subject for additional charge.

PAYMENT TERMS:

Project Preparation & Commencement
Down Payment: 40% of the total project cost before starting the project.
Project Milestone
Payment: 30% of the total project cost after replacement of 4 damaged outfall pipes.
Project Milestone
Payment: 20% of the total project cost after replacement of all damaged outfall pipes.
Project Inspection and Acceptance
Payment: 10% of the total project cost after inspection and approval.
Late Payments:
(A 2.5% late fee applies if payment is not received within 14 business days.)
(A 2.5% cancellation fee applies if the proposal is accepted and later withdrawn.)

PROJECT TIMELINE:

Work is expected to begin within (TBA) days after permit approval and be completed within approximately (TBA) weeks, barring unforeseen delays.

CHANGE ORDERS:
Any work not listed in this proposal requires a signed change order and may incur additional charges and timeline adjustments.

SITE ACCESS & UTILITY LOCATES:

The client must provide unobstructed access to the work area. Underground utilities must be located via 811 before excavation.

WEATHER/UNFORESEEN CONDITIONS:

Contractor is not liable for delays caused by weather, material shortages, or conditions beyond its control.

LIEN RIGHTS NOTICE:

Badger Underground Construction, LLC reserves the right to file a construction lien in accordance with Florida law in the event of non-payment.

Thank you for the opportunity to provide this quotation. Should you have any questions or require further clarification regarding this proposal, please do not hesitate to contact us. We look forward to the possibility of working together and bringing this project to fruition.

By signing and delivering this proposal, the Executive expressly acknowledges and agrees that he has had up to twenty-one (21) days before signing and delivering this Agreement to carefully read and fully consider the terms of this Agreement; he has agreed to this Agreement knowingly and voluntarily and was not subjected to any undue influence or duress; he may revoke his acceptance of this Agreement within seven (7) calendar days after he signs and delivers it by sending written notice of revocation in accordance with the notice provisions hereof; and (e) on the eighth calendar day after he signs and delivers this Agreement, this Agreement becomes effective and enforceable.

Richard Dacres
Accepted by	Submitted by
( Authorized Represantive)	(Badger Underground Represantive)

1/7/2026
Date	Date

Customer acknowledges and accepts all information regarding supplied quotation.

RESOLUTION NO. 2026-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TERRACINA COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2026/2027; AND PROVIDING AN EFFECTIVE DATE.

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

WHEREAS, the Proposed Budget including the Assessments for Fiscal Year 2026/2027 has been prepared and considered by the Board.

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

Section 1.  The Proposed Budget including the Assessments for Fiscal Year 2026/2027 attached hereto as Exhibit “A” is approved and adopted.

Section 2.	A Public Hearing is hereby scheduled for 	, 2026 at 9:00 a.m. in the Nexus at Vista Park, 2101 Vista Parkway, West Palm Beach, Florida 33411, for the purpose of receiving public comments on the Proposed Fiscal Year 2026/2027 Budget.

PASSED, ADOPTED and EFFECTIVE this 4th day of March, 2026.

ATTEST:	TERRACINA
COMMUNITY DEVELOPMENT DISTRICT

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

Terracina Community Development District

Proposed Budget For Fiscal Year 2026/2027
October 1, 2026 - September 30, 2027

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
TERRACINA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES	
FISCAL YEAR 2026/2027
BUDGET	
O & M ASSESSMENTS	170,978	
DEBT ASSESSMENTS	313,404	
OTHER REVENUES	0	
INTEREST INCOME	1,320	
		
TOTAL REVENUES	$	485,702	
		
EXPENDITURES		
SUPERVISOR FEES	6,000	
PAYROLL TAXES - EMPLOYER	480	
AQUATIC LAKE MAINTENANCE	23,000	
FOUNTAIN MAINTENANCE	18,000	
ENGINEERING/INSPECTIONS	5,500	
MANAGEMENT	40,284	
SECRETARIAL	4,200	
LEGAL	3,500	
ASSESSMENT ROLL	8,000	
AUDIT FEES	3,700	
INSURANCE	8,200	
LEGAL ADVERTISING	1,350	
MISCELLANEOUS	900	
POSTAGE	225	
OFFICE SUPPLIES	575	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	3,900	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	2,000	
CONTINGENCY/FOUNTAINS	31,700	
		
TOTAL EXPENDITURES	$	162,039	
		
REVENUES LESS EXPENDITURES	$	323,663	
		
BOND PAYMENTS	(294,600)	
		
BALANCE	$	29,063	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(9,688)	
DISCOUNT FOR EARLY PAYMENTS	(19,375)	
		
EXCESS/ (SHORTFALL)	$	-	
		
CARRYOVER FROM PRIOR YEAR	0	
		
NET EXCESS / (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
TERRACINA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES	
FISCAL YEAR 2024/2025
ACTUAL	
FISCAL YEAR 2025/2026
BUDGET	
FISCAL YEAR 2026/2027
BUDGET	

COMMENTS	
O & M ASSESSMENTS	171,594	171,024	170,978	Expenditures Less Interest & Carryover/.94	
DEBT ASSESSMENTS	314,408	314,087	313,404	Bond Payment /.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	8,352	1,200	1,320	Projected At $110 Per Month	
					
TOTAL REVENUES	$	494,354	$	486,311	$	485,702		
					
EXPENDITURES					
SUPERVISOR FEES	3,200	7,000	6,000	No Change From 2025/2026 Budget	
PAYROLL TAXES - EMPLOYER	245	560	480	Supervisor Fees * 8.00%	
AQUATIC LAKE MAINTENANCE	21,399	23,000	23,000	No Change From 2025/2026 Budget	
FOUNTAIN MAINTENANCE	17,756	18,000	18,000	No Change From 2025/2026 Budget	
ENGINEERING/INSPECTIONS	5,500	5,500	5,500	No Change From 2025/2026 Budget	
MANAGEMENT	38,124	39,228	40,284	CPI Adjustment	
SECRETARIAL	4,200	4,200	4,200	No Change From 2025/2026 Budget	
LEGAL	1,230	3,500	3,500	No Change From 2025/2026 Budget	
ASSESSMENT ROLL	8,000	8,000	8,000	No Change From 2025/2026 Budget	
AUDIT FEES	3,500	3,600	3,700	Accepted Amount For 2025/2026 Audit	
INSURANCE	7,202	7,800	8,200	Fiscal Year 2025/2026 Expenditure Was $7,634	
LEGAL ADVERTISING	1,302	1,350	1,350	No Change From 2025/2026 Budget	
MISCELLANEOUS	502	950	900	$50 Decrease From 2025/2026 Budget	
POSTAGE	53	250	225	$25 Decrease From 2025/2026 Budget	
OFFICE SUPPLIES	402	600	575	$25 Decrease From 2025/2026 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2025/2026 Budget	
TRUSTEE FEES	3,500	3,900	3,900	No Change From 2025/2026 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2025/2026 Budget	
WEBSITE MANAGEMENT	2,000	2,000	2,000	No Change From 2025/2026 Budget	
CONTINGENCY/FOUNTAINS	0	32,000	31,700	Contingency	
					
TOTAL EXPENDITURES	$	118,640	$	161,963	$	162,039		
					
REVENUES LESS EXPENDITURES	$	375,714	$	324,348	$	323,663		
					
BOND PAYMENTS	(299,974)	(295,242)	(294,600)	2027 Principal & Interest Payments	
					
BALANCE	$	75,740	$	29,106	$	29,063		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(2,539)	(9,702)	(9,688)	Two Percent Of Total Assessment Roll	
DISCOUNT FOR EARLY PAYMENTS	(17,727)	(19,404)	(19,375)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	55,474	$	-	$	-		
					
CARRYOVER FROM PRIOR YEAR	0	0	0	Carryover From Prior Year	
					
NET EXCESS / (SHORTFALL)	$	55,474	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
TERRACINA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES	FISCAL YEAR 2024/2025 ACTUAL	FISCAL YEAR 2025/2026 BUDGET	FISCAL YEAR 2026/2027 BUDGET	

COMMENTS	

Interest Income	
5,811	
1,000	
1,250	
Projected Interest For 2026/2027	

NAV Tax Collection	
299,974	
295,242	
294,600	
Maximum Debt Service Collection	

Prepaid Bond Collection	
4,144	
0	
0		

Total Revenues	
$	309,929	
$	296,242	
$	295,850		

EXPENDITURES					

Principal Payments	
247,000	
253,000	
259,000	
Principal Payment Due In 2027	

Interest Payments	
50,502	
41,724	
35,208	
Interest Payments Due In 2027	

Bond Redemption	
0	
1,518	
1,642	
Estimated Excess Debt Collections	

Total Expenditures	
$	297,502	
$	296,242	
$	295,850		

Excess/ (Shortfall)	
$	12,427	
$	-	
$	-		

Series 2021 Bond Refunding Information

Original Par Amount =	$2,856,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	2.350%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	June 2021			
Maturity Date =

Par Amount As Of 1/1/26 =	May 2032

$1,902,000			

2/23/2026 2:09 PM	III

Page 22

Terracina Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2023/2024	2024/2025	2025/2026	2026/2027	
 Assessment* 	 Assessment* 		Assessment*		  Projected Assessment* 	
O & M	$	372.50	$	371.83	$	371.80	$	371.70	
	Debt		 $	684.29 	 $	684.29 	 $	684.29 	 $	684.29 	
Total	$	1,056.79	$	1,056.12	$	1,056.09	$	1,055.99	

* Assessments Include the Following :	 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

 Community Information:	
Total Units	460	
Prepayments	2	
Billed for Debt	458	

2/23/2026 2:09 PM	IV

Terracina Community Development District

Financial Report For January 2026

TERRACINA COMMUNITY DEVELOPMENT DISTRICT MONTHLY FINANCIAL REPORT
JANUARY 2026

REVENUES	
Annual Budget
10/1/25 - 9/30/26	

Actual 1/25/202	Year To Date Actual
10/1/25 - 1/31/26	
O & M ASSESSMENTS	171,024	0	151,106	
DEBT ASSESSMENTS	314,087	0	277,423	
OTHER REVENUES	0	0	0	
INTEREST INCOME	1,200	0	2,161	
				
Total Revenues	$	486,311	$	-	$	430,690	
				
EXPENDITURES				
SUPERVISOR FEES	7,000	0	800	
PAYROLL TAXES - EMPLOYER	560	0	61	
AQUATIC LAKE MAINTENANCE	23,000	1,796	7,184	
FOUNTAIN MAINTENANCE	18,000	659	7,476	
ENGINEERING/INSPECTIONS	5,500	0	0	
MANAGEMENT	39,228	3,269	13,076	
SECRETARIAL	4,200	350	1,400	
LEGAL	3,500	0	608	
ASSESSMENT ROLL	8,000	0	0	
AUDIT FEES	3,600	0	0	
INSURANCE	7,800	0	7,634	
LEGAL ADVERTISING	1,350	0	0	
MISCELLANEOUS	950	50	188	
POSTAGE	250	0	0	
OFFICE SUPPLIES	600	7	228	
DUES & SUBSCRIPTIONS	175	0	175	
TRUSTEE FEES	3,900	0	0	
CONTINUING DISCLOSURE FEE	350	0	0	
WEBSITE MANAGEMENT	2,000	166	667	
CONTINGENCY/FOUNTAINS	32,000	0	899	
				
Total Expenditures	$	161,963	$	6,297	$	40,396	
				
REVENUES LESS EXPENDITURES	$	324,348	$	(6,297)	$	390,294	
				
BOND PAYMENTS	(295,242)	0	(263,683)	
				
BALANCE	$	29,106	$	(6,297)	$	126,611	
				
COUNTY APPRAISER & TAX COLLECTOR FEE	(9,702)	0	(4,884)	
DISCOUNTS FOR EARLY PAYMENTS	(19,404)	0	(17,113)	
				
EXCESS/ (SHORTFALL)	$	-	$	(6,297)	$	104,614	
				
CARRYOVER FROM PRIOR YEAR	0	0	0	
				
Net Excess/ (Shortfall)	$	-	$	(6,297)	$	104,614	

Bank Balance As Of 1/31/26	$	587,154.51	
Accounts Payable As Of 1/31/26	$	272,975.35	
Accounts Receivable As Of 1/31/26	$	-	
Available Funds As Of 1/31/26	$	314,179.16	

Terracina Community Development District
Budget vs. Actual
October 2025 through January 2026

	Oct 25 - Jan 26		25/26 Budget		$ Over Budget		% of Budget	
Income									
363.100	O & M Assessments	151,105.89		171,024.00		-19,918.11		88.35%	
363.810	Debt Assessments	277,422.97		314,087.00		-36,664.03		88.33%	
363.820	Debt Assessment-Paid To Trustee	-263,683.10		-295,242.00		31,558.90		89.31%	
363.830	Tax Collector Fee	-4,884.16		-9,702.00		4,817.84		50.34%	
363.831	Discounts For Early Payment	-17,112.93		-19,404.00		2,291.07		88.19%	
369.401	Interest Income	2,160.95		1,200.00		960.95		180.08%	
Total Income	145,009.62		161,963.00		-16,953.38		89.53%	
Expense									
511.122	PR Tax Expense	61.20		560.00		-498.80		10.93%	
511.131	Supervisor Fees	800.00		7,000.00		-6,200.00		11.43%	
511.301	Aquatic Lake Maintenance	7,184.00		23,000.00		-15,816.00		31.24%	
511.307	Fountain Maintenance	7,476.00		18,000.00		-10,524.00		41.53%	
511.310	Engineering	0.00		5,500.00		-5,500.00		0.0%	
511.311	Management Fees	13,076.00		39,228.00		-26,152.00		33.33%	
511.312	Secretarial Fees	1,400.00		4,200.00		-2,800.00		33.33%	
511.315	Legal Fees	607.50		3,500.00		-2,892.50		17.36%	
511.318	Assessment/Tax Roll	0.00		8,000.00		-8,000.00		0.0%	
511.320	Audit Fees	0.00		3,600.00		-3,600.00		0.0%	
511.450	Insurance	7,634.00		7,800.00		-166.00		97.87%	
511.480	Legal Advertisements	0.00		1,350.00		-1,350.00		0.0%	
511.512	Miscellaneous	187.93		950.00		-762.07		19.78%	
511.513	Postage and Delivery	0.00		250.00		-250.00		0.0%	
511.514	Office Supplies	228.15		600.00		-371.85		38.03%	
511.540	Dues, License & Subscriptions	175.00		175.00		0.00		100.0%	
511.733	Trustee Fees	0.00		3,900.00		-3,900.00		0.0%	
511.734	Continuing Disclosure Fee	0.00		350.00		-350.00		0.0%	
511.750	Website Management	666.64		2,000.00		-1,333.36		33.33%	
511.800	Contingency/Fountains	900.00		32,000.00		-31,100.00		2.81%	
Total Expense	40,396.42		161,963.00		-121,566.58		24.94%	
Net Income		104,613.20		0.00		104,613.20		100.0%	

Page 26

Terracina Community Development District
Expenditures
October 2025 through January 2026

	Date		Invoice #		Vendor		Memo		Amount	
Expenditures
511.122 • PR Tax Expense	

12/16/2025		

PR 12.10.25				

mtg 12.10.25 ck 12.16.25 (Colella L, Colella G, Ameer S, Esquerete J)		

61.20	
Total 511.122 • PR Tax Expense									61.20	
511.131 • Supervisor Fees	
12/16/2025		
PR 12.10.25				
mtg 12.10.25 ck 12.16.25 (Colella L, Colella G, Ameer S, Esquerete J)		
800.00	
Total 511.131 • Supervisor Fees									800.00	
511.301 • Aquatic Lake Maintenance										
	10/01/2025		2606		Allstate Resource Management Inc.		Lake, Mitigation and Debris Management Services		1,745.00	
	10/01/2025		2606		Allstate Resource Management Inc.		Debris Removal Services		51.00	
	11/01/2025		3427		Allstate Resource Management Inc.		Lake, Mitigation and Debris Management Services Recurring		1,745.00	
	11/01/2025		3427		Allstate Resource Management Inc.		Debris Removal Services Recurring		51.00	
	12/01/2025		88995		Allstate Resource Management Inc.		Lake, Mitigation and Debris Management ServicesRecurring		1,745.00	
	12/01/2025		88995		Allstate Resource Management Inc.		Debris Removal Services Recurring		51.00	
	01/01/2026		89844		Allstate Resource Management Inc.		Lake, Mitigation and Debris Management Services Recurring		1,745.00	
	01/01/2026		89844		Allstate Resource Management Inc.		Debris Removal Services Recurring		51.00	
Total 511.301 • Aquatic Lake Maintenance									7,184.00	
511.307 • Fountain Maintenance										
	10/01/2025		2606		Allstate Resource Management Inc.		Fountain/Aerator Maintenance Services		659.00	
	10/10/2025		4833		Allstate Resource Management Inc.		Fountain Pump Breaker 2-Pole 60A GFI		345.00	
	11/01/2025		3427		Allstate Resource Management Inc.		Fountain/Aerator Maintenance Services Recurring		659.00	
	12/01/2025		88995		Allstate Resource Management Inc.		Fountain/Aerator Maintenance Services Recurring		659.00	
	12/22/2025		90402		Allstate Resource Management Inc.		1X Fountain / Aerator Maintenance Services-7.5 HP Submersible Fountain Motor1X		4,495.00	
	01/01/2026		89844		Allstate Resource Management Inc.		Fountain/Aerator Maintenance Services Recurring		659.00	
Total 511.307 • Fountain Maintenance									7,476.00	
511.311 • Management Fees										
	10/31/2025		2025-1405		Special District Services, Inc.		Management Oct 2025		3,269.00	
	11/30/2025		2025-1530		Special District Services, Inc.		Management Nov 2025		3,269.00	
	12/31/2025		2025-1672		Special District Services, Inc.		Management Dec 2025		3,269.00	
	01/31/2026		2026-1807		Special District Services, Inc.		Management Jan 2026		3,269.00	
Total 511.311 • Management Fees									13,076.00	
511.312 • Secretarial Fees										
	10/31/2025		2025-1405		Special District Services, Inc.		Secretarial Oct 2025		350.00	
	11/30/2025		2025-1530		Special District Services, Inc.		Secretarial Nov 2025		350.00	
	12/31/2025		2025-1672		Special District Services, Inc.		Secretarial Dec 2025		350.00	
	01/31/2026		2026-1807		Special District Services, Inc.		Secretarial Jan 2026		350.00	
Total 511.312 • Secretarial Fees									1,400.00	

Page 27

Terracina Community Development District
Expenditures
October 2025 through January 2026

Date	Invoice #	Vendor	Memo	Amount

511.315 • Legal Fees		
	10/29/2025	132838	Caldwell Pacetti Edwards Schoech & Viator	Legal Services Oct 2025	67.50	
	12/23/2025	132920	Caldwell Pacetti Edwards Schoech & Viator	Legal Services Dec 2025	540.00	
Total 511.315 • Legal Fees					607.50	
511.450 • Insurance	
10/01/2025	
29551	
Egis Insurance & Risk Advisors	
Policy #100125064 10/01/2025-10/01/2026Florida Insurance Alliance	
7,634.00	
Total 511.450 • Insurance					7,634.00	
511.512 • Miscellaneous						
	10/01/2025	31860	The Commons Vista Park, LLC	Terracina CDD Reg Board Mtg	0.95	
	10/31/2025	2025-1405	Special District Services, Inc.	Travel Sept 2025	21.84	
	11/30/2025	2025-1530	Special District Services, Inc.	Travel Oct 2025	11.90	
	12/16/2025	PR 12.10.25		mtg 12.10.25 ck 12.16.25 (Colella L, Colella G, Ameer S, Esquerete J)	53.40	
	12/22/2025	34687	The Commons Vista Park, LLC	Terracina CDD Reg Board Mtg	50.00	
	01/31/2026	2026-1807	Special District Services, Inc.	Meeting Books December 2025	28.00	
	01/31/2026	2026-1807	Special District Services, Inc.	Travel Dec 2025	21.84	
Total 511.512 • Miscellaneous					187.93	
511.514 • Office Supplies						
	10/31/2025	2025-1405	Special District Services, Inc.	Copier Sept 2025	139.65	
	11/30/2025	2025-1530	Special District Services, Inc.	Copier Oct 2025	11.55	
	12/31/2025	2025-1672	Special District Services, Inc.	Copier Nov 2025	70.20	
	01/31/2026	2026-1807	Special District Services, Inc.	Copier December 2025	6.75	
Total 511.514 • Office Supplies					228.15	
511.540 • Dues, License & Subscriptions	
10/01/2025	
92838	
Florida Commerce	
Fiscal Year 2025 - 2026 Special District State Fee	
175.00	
Total 511.540 • Dues, License & Subscriptions					175.00	
511.750 • Website Management						
	10/31/2025	2025-1405	Special District Services, Inc.	Website Oct 2025	166.66	
	11/30/2025	2025-1530	Special District Services, Inc.	Website Nov 2025	166.66	
	12/31/2025	2025-1672	Special District Services, Inc.	Website Dec 2025	166.66	
	01/31/2026	2026-1807	Special District Services, Inc.	Website Jan 2026	166.66	
Total 511.750 • Website Management					666.64	
511.800 • Contingency/Fountains	
12/13/2025	
1576	
Badger Underground Construction, LLC	
Investigate Measurement & Quantities	
900.00	
Total 511.800 • Contingency/Fountains					900.00	
Total Expenditures					40,396.42	

Terracina Community Development District
Balance Sheet
As of January 31, 2026

ASSETS
Current Assets

Operating Fund

Capital Projects
Fund	Debt Service Fund

General Fixed
Assets Fund	Long Term Debt Fund	TOTAL

Checking/Savings Bank Account	
587,154.51		
0.00		
0.00	
0.00		
0.00		
587,154.51	
Total Checking/Savings	587,154.51		0.00		0.00	0.00		0.00		587,154.51	
Total Current Assets	587,154.51		0.00		0.00	0.00		0.00		587,154.51	
Fixed Assets											
Storm Water Management	0.00		0.00		0.00	1,770,162.00		0.00		1,770,162.00	
Fountains	0.00		0.00		0.00	114,601.00		0.00		114,601.00	
Accum Depreciation - Storm Water Mgt	0.00		0.00		0.00	-1,062,090.00		0.00		-1,062,090.00	
Accum Depreciation - Fountains	0.00		0.00		0.00	-25,800.00		0.00		-25,800.00	
Total Fixed Assets	0.00		0.00		0.00	796,873.00		0.00		796,873.00	
Other Assets											
Investments - Interest Account	0.00		0.00		7.30	0.00		0.00		7.30	
Investments - Reserve Account	0.00		0.00		17,199.88	0.00		0.00		17,199.88	
Investments - Revenue Account	0.00		0.00		44,308.07	0.00		0.00		44,308.07	
Investments - Prepayment Fund	0.00		0.00		4,190.52	0.00		0.00		4,190.52	
Investments - Sinking Fund	0.00		0.00		29.61	0.00		0.00		29.61	
A/R Non-Ad Valorem Receipts	0.00		0.00		263,683.10	0.00		0.00		263,683.10	
Amount Available In DSF	0.00		0.00		0.00	0.00		329,418.48		329,418.48	
Amount To Be Provided	0.00		0.00		0.00	0.00		1,572,581.52		1,572,581.52	
Total Other Assets	0.00		0.00		329,418.48	0.00		1,902,000.00		2,231,418.48	
TOTAL ASSETS	587,154.51		0.00		329,418.48	796,873.00		1,902,000.00		3,615,445.99	
LIABILITIES & EQUITY											

Page 28

Liabilities

Accounts Payable	272,975.35		0.00		0.00	0.00		0.00		272,975.35	
Total Accounts Payable	272,975.35		0.00		0.00	0.00		0.00		272,975.35	
Total Current Liabilities	272,975.35		0.00		0.00	0.00		0.00		272,975.35	
Long Term Liabilities
Special Assessment Debt (2021)	
0.00		
0.00		
0.00	
0.00		
1,902,000.00		
1,902,000.00	
Total Long Term Liabilities	0.00		0.00		0.00	0.00		1,902,000.00		1,902,000.00	
Total Liabilities	272,975.35		0.00		0.00	0.00		1,902,000.00		2,174,975.35	
Equity											
Net Income	104,613.20		0.00		242,334.28	0.00		0.00		346,947.48	
Current Year Depreciation	0.00		0.00		0.00	0.00		0.00		0.00	
Investments in Gen Fixed Assets	0.00		0.00		0.00	1,884,763.00		0.00		1,884,763.00	
Retained Earnings	209,565.96		0.00		87,084.20	-1,087,890.00		0.00		-791,239.84	
Total Equity	314,179.16		0.00		329,418.48	796,873.00		0.00		1,440,470.64	
TOTAL LIABILITIES & EQUITY	587,154.51		0.00		329,418.48	796,873.00		1,902,000.00		3,615,445.99	

Current Liabilities Accounts Payable