Post on 08-Jul-2020
Vasari Community Development
District
FEBRUARY 11, 2020 MEETING
AGENDA PACKAGE
Agenda Page #1
Vasari Community Development District Inframark, Infrastructure Management Services
210 North University Drive, Suite 702 • Coral Springs, Florida 33071 Telephone: (954) 603-0033 • Fax: (954) 345-1292
February 4. 2020 Board of Supervisors Vasari Community Development District Dear Board Members: The regular meeting of the Board of Supervisors of the Vasari Community Development District will be held Tuesday, February 11, 2020 at 9:00 a.m. at the Vasari Country Club, 11250 Via De Vasari Drive, Bonita Springs, Florida. Following is the agenda for the meeting:
1. Roll Call 2. Approval of Agenda 3. Audience Comments on Agenda Items 4. Staff Reports A. Fountain/Aerators i. Fountain Inspection Report ii. Aeration Inspection Report iii. Fountain & Aeration Log B. Engineer’s Report C. Attorney’s Report i. Easement Update ii. Facilities Maintenance Agreement Update iii. Vasari CDD/Vasari Country Club Master Association, Inc. Lease Agreement D. Lake & Wetland Management i. Monthly Inspection Report E. Manager’s Report
i. Field Manager’s Report ii. Approval of the Minutes of the January 14, 2020 Meeting iii. Acceptance of the December 2019 Financial Statements and Check Register iv. Acceptance of the Audit for Fiscal Year 2019 v. Follow Up Items
5. Old Business A. Master Association Clubhouse Expansion 6. New Business A. Preserve Trimming Discussion B. Lake and Wetland Management Contract Discussion 7. Master Association Report 8. Supervisors Requests 9. Audience Comments 10. Adjournment
Agenda Page #2
February 4, 2020 Vasari CDD Page 2 Any additional supporting material for the items listed above is enclosed or will be distributed at the meeting. The balance of the agenda is routine in nature. If you have any questions, please contact me. Sincerely, Justin Faircloth Justin Faircloth/ms Manager
cc: Greg Urbancic Terry Cole
Agenda Page #3
Fourth Order of Business
Agenda Page #4
4A.
Agenda Page #5
4Aiii.
Agenda Page #6
Lake # Date Invoice # Service Issue Cost CommentsLake 1 Has lights on the fountain
Aqua Control 7.5 HP Collier Water Systems - 3-year warranty
TriTier 8/5/2015 Lake Fountain - New 7.5 Hp Fountain Installed $11,795.00 included, 1 year warranty-lightsD2016-
9647/2016-
3/5/2018 9738 3-36W LED lights - 3 - Custom Brackets $1,037.00 F.F.8/15/2018 2018-9896 Fountain Pressure Washed $175.00 FF
11/20/2018 2018-10187 Replaced intermatic timer $149.00 F.F. - 1-yr warranty 1/3/2019 2018-10285 Adjusted timer $129.00 F.F.
1/15/2019 2018-10310 replaced 2 start capacitors $49.98 FF - 30 day warranty1/15/2019 2018-10310 replaced 2 run capacitors $49.98 FF - 30 day warranty1/15/2019 2018-10310 replaced 1 relay $49.00 FF - 30 day warranty
7.5hp 230V 1P motor Serial #2095215203 and 7.5hp
2/19/2019 2019-10411 pump Serial #222074684861 $3,890.00 FF 2yr warranty on motor and pump3/28/2019 201910516 Replaced Start Capacitor $0.00
4/12/2019 2019-10546 7.5HP start box extensive rewiring with 2hrs. Labor $957.00 FF 1 yr warranty9/25/2019 2019-10868 repaired cracked nozzle $168.95 FF 1 yr warranty
Lake 1-Air Has pencil diffusers
1 Compressor Cabinet, 2 Air Stations, Shoreline Valve
5/17/2010 Box, 1" PVC Pipe, Bottom Line Tubing Vertex
D2016-
/5/183 9647/2016- 1-small filter change, 1-115V fan $380.95 F.F.
6/5/2019 2019-10699 replaced 2 pencil diffusers (1hr. Of labor) $227.00 FF 1 yr warranty on diffusers
1/4HP 120V ro cking piston compressor Serial
8/5/2019 2019-10857 #0619909851 $917.00 FF 1 yr warrantyLake 2-Air
Vertex - connected to lakes 2,3,4,6, & 7 -
2 Compressor Cabinets, 9 Air Stations, 5
Shoreline Valve Box, 1" PVC Pipe, Bottom
Line Tubing - Compressors located Along
5/17/2010 2 Diffusers Altessa Way on the NW corner of lake 3Lake 3-Air
Vertex - connected to lakes 2,3,4,6, & 7 -
2 Compressor Cabinets, 9 Air Stations, 5
Shoreline Valve Box, 1" PVC Pipe, Bottom
Line Tubing - Compressors located Along
5/17/2010 4 Diffusers Altessa Way on the NW corner of lake 3110 Volt 1/2 hp Rocking Piston Compressor Collier Water Systems - Replaced
3/27/2017 6003 Replacement $965.00 Compressor that runs lakes 2 & 3Lake 4-Air
Vertex - connected to lakes 2,3,4,6, & 7 -
2 Compressor Cabinets, 9 Air Stations, 5
Shoreline Valve Box, 1" PVC Pipe, Bottom
Line Tubing - Compressors located Along
5/17/2010 4 Diffusers Altessa Way on the NW corner of lake 38/1/2015 Aeration - Repair Lake Diffusor & Install new valve
Lake 5-AirVertex - 1 Compressor Cabinet, 2 Air Stations, 1" PVC
5/17/2010 Pipe, Bottom Tubing Lake 6-Air
Vertex - connected to lakes 2,3,4,6, & 7 -
2 Compressor Cabinets, 9 Air Stations, 5
Shoreline Valve Box, 1" PVC Pipe, Bottom
Line Tubing - Compressors located Along
5/17/2010 1 Diffuser Altessa Way on the NW corner of lake 3Lake 7-Air
Vasari Lake Fountain & Aeration LogUpdated 1-29-20
Agenda Page #7
Lake # Date Invoice # Service Issue Cost Comments
Vertex - connected to lakes 2,3,4,6, & 7 -
2 Compressor Cabinets, 9 Air Stations, 5
Shoreline Valve Box, 1" PVC Pipe, Bottom
Line Tubing - Compressors located Along
5/17/2010 2 Diffusers Altessa Way on the NW corner of lake 34/1/2019 2019-10516 rebuilt manifold $79.00 F.F. - 1yr. Warranty
Lake 8-Air
Vertex - connected to lakes 8 & 9 - 1
Compressor Cabinet (2 Compressors), 4
Air Stations, "1 PVC Pipe, Bottom Tubing,
1 Valve Box - Compressor located at the
corner of Via De Vasari Drive on the east
5/17/2010 1 Diffuser corner of the FPL EasementLake 9-Air
Vertex - connected to lakes 8 & 9 - 1
Compressor Cabinet (2 Compressors), 4
Air Stations, "1 PVC Pipe, Bottom Tubing,
1 Valve Box - Compressor located at the
corner of Via De Vasari Drive on the east
5/17/2010 3 Diffusers corner of the FPL Easement1/6/2017 New Bypass Line Installed $1,962.44 Collier Water Systems
Lake #9 Aeration Repair this set repair Lakes 8 & 9 (2)
New Dual membrance Diffusers with check valve
1/5/2017 system 1,300 ft of 1/2" ID weighted aeration line $1,976.52 Collier Water Systems
1/2 hp Commercial 230 V lake Aeration Compressor
w/ Air Release Valve. - Labor to install compressor &
6/29/2017 6077 new Mainfold release valve $1,450.00 Collier Water Systems 2ea. 1/2 HP 230V compressors Serial #s 0918907609 &
10/4/2018 2018-10036 091890611 $3,753.00 F.F. - 1-yr warranty 1/2hp 230V Dual Head Aqua Master Compressor
12/13/2019 2020-11324 Model # 940460 Serial #312303-3 $927.20 F.F. - 1-yr warranty Lake 10-Air
Vertex - Connected to lakes 10, 16 & 17 -
1 AirStation, 1 Valve Box, 1" PVC,
Bottomline Tubing - Compressor location
5/17/2010 1 Diffuser lake 174/1/2015 Aeration - Diffuser change Collier Water Systems
Dual Membrane Diffuser, Aluminum 2-way Manifold
splitter w/connectors & Check Vlave, 12x12 access box
6/1/2017 6056 for adjustment, 200' weighted line $1,625.00 Collier Water Systems
12/5/2018 2018-10217 Replaced capacitor in compressor under warranty $0.00 3 pencial diffusers installed to help with algae issues -
5/7/2019 2019-10609 2 hrs. of labor. $405.00 FF-1yr. Warranty Lake 11-Air
Vertex - Connected to lakes 11, 12, & 13 -
2 Air Stations, 1 Valve Box, Bottomline
tubing, 1" PVC Pipe - Compressor
5/17/2010 2 Diffusers location lake 13Lake 12-Air
Vertex - Connected to lakes 11, 12, & 13 -
2 Air Stations, 1 Valve Box, Bottomline
tubing, 1" PVC Pipe - Compressor
5/17/2010 1 Diffuser location lake 13Lake 13 Has LED Lights on the fountain
Aqua Control 7.5 HP
TriTier 3/16/2015 Lake Fountain - Fountain Light Bulbs ReplacedLake Fountain - Replaced steel eye hook and
3/1/2015 repositioned fountain back into place $246.00 4/12/2016 5671 & 5694 New 7.5Hp Fountain Installed $11,195.00 3-year warranty included8/15/2018 2018-9896 Fountain Pressure Washed $175.00 FF
11/20/2018 2018-10187 Replaced 3 36W LED lights $687.00 F.F. - 1-yr warranty
Vasari Lake Fountain & Aeration LogUpdated 1-29-20
Agenda Page #8
Lake # Date Invoice # Service Issue Cost Comments1/15/2019 2018-10310 replaced 2 start capacitors $49.98 FF - 30 day warranty1/15/2019 2018-10310 replaced 2 run capacitors $49.98 FF - 30 day warranty1/15/2019 2018-10310 replaced 1 relay $49.00 FF - 30 day warranty11/4/2019 2019-11117 replaced start box $368.00 F.F. - 1-yr warranty
Lake 13-AirVertex - Connected to lakes 11, 12, & 13 -
2 Air Stations, 1 Valve Box, Bottomline
tubing, 1" PVC Pipe - Compressor
5/17/2010 3 Diffusers location lake 133/1/2015 Aeration - New 3/4 Hp Aeration compressor $1,795.00 Collier Water Systems7/1/2016 Aeration System Capacitor Replaced $0.00 Collier Water Systems
Collier Water Systems - 1-Year Warranty
3/1/2017 Aeration New 1/2 Hp Rocking Piston Compressor IncludedD2016-
9647/2016-
3/5/2018 9738 2- large compressor filter changes $144.40 F.F.
New cabinet with 2 3/4 HP 115V compressors, valve
assemblies, pressure gauge, pressure relief valves,
7/25/2018 2018-9835 high volume cooling fans, sound suppression $3,753.00 F.F. - 1-yr warranty 1/15/2019 2018-10310 repaired air lines $39.00 FF - 1yr warranty
Lake 14-AirVertex - Connected to lakes 14 & 15 - 1
Compressor Cabinet, 1" PVC Pipe,
Bottomline Tubing - Compressor location
5/17/2010 2 Diffusers lake 14F.F. - 1-yr warranty from date of
installation. Sent request for
6/12/2018 2018-2526 1/2/HP 230V Commpressor installed $1,288.00 confirmation1/2hp 230V dual head aqua master compressor Model
12/13/2019 2020-11323 #940460 Serial #312303-1 $1,056.20 F.F. - 1-yr warranty Lake 15 Has Lights on the fountain
Collier Water Systems - 1-yr warranty
1 HP Funnel 6/1/2015 Lake Fountain - New 1Hp Fountain Installed $1,500.00 included6/29/2017 Suplly line cut - splice back together $125.00 Collier Water Systems
D2016-
9647/2016-
3/5/2018 9738 2-36W LED Lights, 2-custom brackets $687.00 F.F. 7/25/2018 2018-9833 new wire, tag lines, deep cleaning, $455.00 FF8/15/2018 2018-9896 Fountain Pressure Washed $175.00 FF
Lake 15-AirVertex - Connected to lakes 14 & 15 - 1
Compressor Cabinet, 1" PVC Pipe,
Bottomline Tubing - Compressor location
5/17/2010 1 Diffuser lake 14Lake 16
Lake Fountain - Replace Control Box; 3Hp and 40 Amp
5/1/2015 BreakerCollier Water Systems - 1-yer warranty
10/16/2015 5515 Fountain Pump & Motor Replacement $2,185.00 included12/15/2015 5557 Float Replacement $225.00 Collier Water Systems
2/27/2018 D2016-9788 5HP/230V/1P motor serial#4SF50-3W2614E1710175 $3,875.00
7/25/2018 2018-9833 5HP/230V/1P motor serial#4SF50-3W2614E1710175 $3,875.00 FF-2yr warranty on motor and pump8/15/2018 2018-9896 Fountain Pressure Washed $175.00 FF
5hp 230 v 1P motor Serial #2094897104 and 5hp
2/19/2019 2019-10410 pump Serial #2061388401 $2,490.00 FF 2yr warranty on motor and pumpLake 16 - Air
Vertex - Connected to lakes 10, 16 & 17 -
1 AirStation, 1 Valve Box, 1" PVC,
Bottomline Tubing - Compressor location
5/17/2010 1 Diffuser lake 172/1/2015 Aeration - Fix broken aeration line
Install 2 new 1/2 HP 230V Compressors serial F.F. - 1-yr warranty from date of
#0518906765 & 0518906766 in cabinets with Blower installation. I have asked for
6/12/2018 2018-2525 fan $3,753.00 confirmation.
Vasari Lake Fountain & Aeration LogUpdated 1-29-20
Agenda Page #9
Lake # Date Invoice # Service Issue Cost CommentsReplaced locked up compressor with new 1/2 HP 230V
rocking Piston Compressor (Serial #1018909235) -
6/5/2019 2019-10699 replaced under warranty $0.00 Lake 17 - East
Lake Fountain - 2 Fountains - East Fountain motor
7/1/2015 pump replaced $2,591.85 1-yr warranty included
1/13/2017 5926 1 New 3Hp fountain from estimate 1056 - Deposit $1,997.50 Collier Water SystemsFinal payment for new fountain install - minus cost for
1/29/2018 6228 new head due to storm damage $1,640.50 Collier Water Systems7/25/2018 2018-9833 Nozzle, tag lines, $487.00 FF8/15/2018 2018-9896 Fountain Pressure Washed $175.00 FF
3HP motor serial #2094917907 & 3HP pump serial
3/5/2019 2019-10443 #2076278809 $2,290.00 FF - 2yr warrantyLake 17 - West
5 HP Funnel 2/9/2016 5616 New 5Hp Funnel Fountain Installed $5,800.00 3-yr warranty includedF.F. - 1-yr warranty from date of
6/27/2018 2018-9753 Replaced 3HP/230V/1P motor and 3 HP pump $1,995.00 installation. 7/25/2018 2018-9833 Deep cleaning $100.00 FF
F.F. - 1-yr warranty from date of
8/6/2018 2018-9877 replaced broken nozzle with new 2" fan nozzle $595.00 installation. 8/15/2018 2018-9896 Fountain Pressure Washed $175.00 FF
Lake 17 - AirVertex - Connected to lakes 10, 16 & 17 -
1 AirStation, 1 Valve Box, 1" PVC,
Bottomline Tubing - Compressor location
2 Diffusers lake 17D2016-
9647/2016-
3/5/2018 9738 1-large filter change - 1-230V fan $427.90 F.F. Lake 18 - East
Fountain #1 Replacement. Replaced with 3hp fountain
with new control box. 3 Hp 230 volt 1 phase Tornado Collier Water Systems - 3-yr warranty
1/25/2016 5594 & 5617 Floating Lake Fountain $4,950.00 included
7/25/2018 2018-9833 New tag lines, deep cleaning $125.00 FF
8/15/2018 2018-9895 3HP start Box replaced. $209.00 FF - 1 yr. warranty
8/15/2018 2018-9896 Fountain Pressure Washed $175.00 F.F. 1/15/2019 2018-10310 replaced 3HP start Box $0.00 Under warranty
3HP230V1Pmotor Serial#EM4-302301E226839L2018
1/22/2019 2019-10333 & 3HPpump Serial#2084952407 $2,290.00 F.F. - 2 Yr. warranty
Lake 18 - West
Collier Water Systems - 3-yr warranty
3/8/2016 Fountain - Changed to 3 HP Trumpet $4,500.00 included
D2016-
9647/2016-
3/5/2018 9738 3hp/230V/1P control panel $1,424.00 F.F.
7/31/2018 2018-9854 3HP/230V/1P motor Serial #4SF30-3W2614C11156 $1,495.00 FF - 1 yr. warranty8/15/2018 2018-9896 Fountain Pressure Washed $175.00 F.F.
FF - remainder of 1 yr warranty labor
7/22/2019 2019-10819 Replaced 3HP/230V/1P moter Serial #2105772905 $500.00 charge only. Lake 18-Air
Vertex - Connected to lakes 18 & 19 - 2
Air Stations, Bottomline Tubing -
5/17/2010 2 Diffusers Compressor location lake 18
11/3/2016 5882 2 1/2hp 110V compressors & Composite Enclosures $2,641.00 D2016-
9647/2016-
3/5/2018 9738 1-115V/1/2hp compressor $1,724.00 F.F.8/23/2018 2018-9916 New 3Hp pump serial #31701811 $758.00 FF - 1yr warranty
Vasari Lake Fountain & Aeration LogUpdated 1-29-20
Agenda Page #10
Lake # Date Invoice # Service Issue Cost CommentsLake 19
3 HP Funnel 5/1/2015
Lake Fountain
pump shaft
- Replace 3 Hp fountain motor and
1-yr warranty included8/15/2018 2018-9896 Fountain Pressure Washed $175.00 F.F.
2/19/2019 2019-10409
Submersible 3HP 230V 1P motor Serial #4SF30-
3W261411711618 with stainless steel pump Serial
#31700695 $4,795.00 FF - 2 yr warranty on motor and pump7/22/2019 2019-10819 Replaced 3HP start box $209.00 FF - 1yr warranty
Lake 19 - Air
5/17/2010 2 Diffusers
Vertex - Connected to lakes 18 & 19 - 2
Air Stations, Bottomline Tubing -
Compressor location lake 189/17/2018 2018-9988 cut out roots installed portions of new air lines $715.00 FF - 1yr warranty
4/1/2019 2019-10516 air leak found. repaired air lines $39.00 FF - 1yr warranty Lake 20 - Air
5/17/2010 1 Diffuser
Vertex - Connected to lakes 20,
23 -1 AirStation, 1" PVC Pipe -
Compressor location lake 23
21, 22 &
Lake 21 - North5 HP Funnel 10/16/2015 5499 Ballast Replacement $1,050.00
3 HP Trumpet 3/8/2016 Fountain - Changed to 3 HP $4,500.00
Collier Water Systems - 3-yr warranty
included7/25/2018 2018-9833 Replaced start relay $1,022.00
8/15/2018 2018-9896 Fountain Pressure Washed $175.00 F.F. Lake 21 - South
2/1/2015 Lake Fountain - Replace lake fountain run capacitor. $282.00
4/21/2015
Lake Fountain - Fountain
Control Bucket for Pump
"B" Repair - Replaced TLS
$559.13
3 HP Trumpet 6/14/2016 5732 & 5785 Fountain - Changed to 3 HP $4,250.00
Collier Water Systems - 3-yr warranty
included7/25/2018 2018-9833 Replaced start box $1,102.00 FF
8/15/2018 2018-9896 Fountain Pressure Washed $175.00 F.F. Lake 21 - Air
5/17/2010 2 Diffusers
Vertex - Connected to lakes 20,
23 -1 AirStation, 1" PVC Pipe -
Compressor location lake 23
21, 22 &
Lake 22 - A(West)
7/12/2017 6095 Deposit Invoice New 3 HP Fountain 3 phase/230 V $1,997.50 Collier Water Systems10/12/2017 6158 Final payment for project above $1,997.50 Collier Water Systems
7/25/2018 2018-9833 5hp 230 v 3P motor pump , timer - deposit $1,234.50 FF8/15/2018 2018-9896 Fountain Pressure Washed $175.00 F.F.
8/23/2018 2018-9917
Replaced
serial#M
5hp/230V/3P motor
H48740/E226839 - final payment $1,595.00 FF - 1yr warranty 8/31/2018 2018-9947 Replaced timer $149.00 FF - 1yr warranty
5/16/2019 2019-10637new 5hp/230V/3P motor - labor charge only
$500FF-1yr. Warranty on replacement motor
Lake 22 - B(East)
5 HP Funnel 9/22/2015 5463
Lake Fountain #2 - 5hp
shaft with props
motor replacement & pump
$2,591.85
Collier Water Systems -1-yr warranty on
pump parts & new submersible motor
9/22/2015 5464 Lake Fountain #8 3-2 Submersible lake wire - 350ft $602.00
Collier Water Systems -Sold at cost to
Vasari-CDD
11/10/2015 5538 New Fountain Replacement-New 5 Hp Trumpet $5,879.22
Collier Water Systems -3-yr warranty
included3/5/2018 D2016-9647 Pressure washin deposit $137.50 not completed as of 3/5/18
5/29/2018 2016-9939 New Control Panel, motor, pump 5hp 203V 3p $4,067.00 all warrantied for 1 yr. per Steven Rhoad8/15/2018 2018-9896 Fountain Pressure Washed $175.00 F.F.
Lake 22 - Air
5/17/2010 2 Diffusers
Vertex - Connected to lakes 20,
23 -1 AirStation, 1" PVC Pipe -
Compressor location lake 23
21, 22 &
Lake 23
5 HP Funnel 3/27/2015 Lake Fountain - New 5Hp Lake Fountain $9,717.00
Collier Water Systems -3-yr warranty
included3/27/2014 Lake Fountain - Panel credit ($935.00)
Vasari Lake Fountain & Aeration LogUpdated 1-29-20
Agenda Page #11
Lake # Date Invoice # Service Issue Cost CommentsCollier Water Systems -1-yr warranty
2/17/2015 Installation of Control Panel $1,828.00 included2/27/2018 D2016-9788 50% payment breaker replacement by electrician $197.50 FF
50% payment pump serial #318014048, 2" fan nozzle,
2/27/2018 D2016-9788 300' of tag line, control panel $2,467.50 FF7/25/2018 2018-9833 50% payment breaker replacement by electrician $197.50 FF
50% payment pump serial #318014048, 2" fan nozzle,
7/25/2018 2018-9833 300' of tag line, control panel $2,467.50 FF - 2 yr warranty on motor and pump8/15/2018 2018-9896 Fountain Pressure Washed $175.00 F.F.
11/30/2018 2018-10207 Installed new 3 phase fused disconnect $630.00 FF - 1yr warranty Lake 23 - Air
Vertex - Connected to lakes 20, 21, 22 &
23 -1 AirStation, 1" PVC Pipe -
5/17/2010 1 Diffuser Compressor location lake 23110 Volt 1/2 hp Rocking Piston Compressor Collier Water Systems - Replaced
3/27/2017 6003 Replacement $965.00 Compressor that runs lakes 2 & 3
10/1/2018 2018-10022 1 ea. 30A fuse, 1 ea. Manifold rebuild kit $59.90 FF - 1yr warranty on the manifold rebuild1/15/2019 2018-10310 rebuilt manifold $79.00 FF - 1yr warranty
F.F. - both bubblers have now been
Lake 24 - Bubbler 6/1/2018 2018-2525 removed Bubbler from lake #24 $258.00 removed.
Lake 24 - East Has Lights on the fountainCollier Water Systems -3-yr warranty
5 HP TriTier 3/1/2015 Lake Fountain - New 5Hp Lake Fountain $9,717.00 included
1/1/2016 Warranty - 5hp motor replaced. Collier Water Systems
3/23/2018 Replace 2" Fan Nozzle $595.00 Florida Fountains
2/27/2018 D2016-9788 new 5HP/460V/3P motor $2,842.50 FF
7/25/2018 2018-9833 new 5HP/460V/3P motor $2,842.50 FF - 2yr warranty motor and pump
8/15/2018 2018-9896 Fountain Pressure Washed $175.00 F.F.
4/26/2019 2019-10573new 5HP/460V/3P motor (serial # 210296605) Installed under warranty
good through 7/25/2020
installed 3 36W LED lights
installed new step down transformer 3KVA 480V to 120V outdoor
transformer
$500.00 FF - see comments for warranty
5/17/2019 2019-10647 $816.00 FF - 1yr. Warranty on lights
9/30/2019 2019-11023 $1,429.00
Lake 24 - WestCollier Water Systems? - 3-yr warranty
8/9/2016 5788 & 5838 Fountain - New 7.5Hp Fountain $12,500.00 included
8/15/2018 2018-9896 Fountain Pressure Washed $175.00 F.F.
Lake 24 - Air
6/1/2015 Aeration - New Aeration System installed $5,340.00 Collier Water Systems -D2016-
9647/2016- F.F. - 3/4hp will not run with the current
3/5/2018 9738 new 1/2hp compressor $1,288.00 power set up
6/5/2019 2019-10699 Replaced 120V intermatic timer. 0.5hr labor $213.50 1/2HP 120V rocking piston compressor Serial #
8/5/2019 2019-10858 1018909238 $1,288.00 FF 1 yr warranty
Lake 25-Air2 AirStations, 1" PVC, Bottomline Tubing, Valve Box,
5/17/2010 Compressor Cabinet and Compressor Vertex1/2hp 230V dual head aqua master compressor Model
1/7/2020 2020-11322 #940460 Serial #312303-2 $1,288.00 FF - 1yr. Warranty
Vasari Lake Fountain & Aeration LogUpdated 1-29-20
Agenda Page #12
4D.
Agenda Page #13
4Di.
Agenda Page #14
Agenda Page #15
Agenda Page #16
4E.
Agenda Page #17
4Ei.
Agenda Page #18
Vasari CDD
01/28/20 – Field Management Report
www.inframarkims.com
Inspected on: 01/28/20 by: Tim Hall
Agenda Page #19
Inframark Monthly Management Report 1
1. Lake Management The water levels in the lakes have dropped since last month but not as much as expected. There is still less algae growth in many of the lakes as compared to the summer. Additional lake maintenance information is found below. Except where specifically noted, all issues are minor.
a. Algae on Lakes: Noted in Lakes 10, 14, 15, 20, 23, and 25
Lake 15 Lake 23
b. Filamentous Algae: No issues noted.
c. Littorals: New littoral plantings are mostly surviving and appear to be doing well. Spike rush
trimmed back on Lake 25 still looks good.
Lake 14 Littorals Lake 25
Agenda Page #20
Inframark Monthly Management Report 2
i. Alligator Flag in Lakes: No issues observed. Lake 18 starting to green up again.
Lake 18
d. Weeds: i. Alligator Weed in Lakes: No issues observed.
ii. Brazilian Pepper: No issues observed.
iii. Cattails in Lakes: No issues observed.
iv. Climbing Hemp Vine in Lakes: No issues observed.
v. Chara in Lakes: Observed in Lake 22
Lake 22
vi. Hydrilla in Lakes: No issues observed.
vii. Illinois Pond Weed in Lakes: No issues observed.
viii. Palms on Lake Banks: No issues observed.
Agenda Page #21
Inframark Monthly Management Report 3
ix. Red Ludwigia in Lakes: Observed in Lake 16.
x. Sedges in Lakes: No issues observed. xi. Spatterdock/Lily Pads in Lakes: Minor patches observed in Lakes 7, and 12.
Lake 7 Lake 12
xii. Torpedo Grass in Lakes: Minor patches on several lakes most noticeable on Lakes 1, 3, 4,
9, 11, 16, and 21.
Lake 1 Lake 9
e. Trash in Lakes: Lots of foam cups and debris noted in Lake 14. Also noted on Lakes 5 and 10.
Agenda Page #22
Inframark Monthly Management Report 4
Lake 14 Lake 14
f. Bulkheads: Bulkheads on Lakes 12, 13, 18, and 19 all had weeds in bulkhead
Lake 12 Lake 19
g. Clippings in Lakes: No issues noted.
2. Lake Bank Erosion: No locations worse than previous month. Escarpments along lake banks
were noticeable. Minor erosion noted on southeast portion of Lake 13
Lake 13 Lake 24
3. Storm Drainage System a. Outfall Structures: No issues observed. No flow and No blockages.
Agenda Page #23
Inframark Monthly Management Report 5
Lake 5 Outfall Structure Lake 5 Intake Structure
b. Drains: No issues noted.
c. Roadway Catch Basins: Bags placed in road drain structure by Lake 10 catching debris.
d. Storm Drain: No new issues observed.
e. Catch Basins: No issues observed.
f. Inter-Connect/Drain Pipes: No issues observed.
g. Lake Drainage Pipes: No issues observed.
Agenda Page #24
Inframark Monthly Management Report 6
4. Irrigation Water Use as Reported to SFWMD:
Month HOA Golf TOTAL November 2018 9.846 MG 4.042 MG 13.888 MG
December 2018 9.180 MG 4.775 MG 13.955 MG
January 2019 4.014 MG 4.346 MG 8.360 MG
February 2019 2.292 MG 3.512 MG 5.804 MG
March 2019 4.899 MG 6.962 MG 11.861 MG
April 2019 6.470 MG 7.280 MG 13.750 MG
May 2019 10.107 MG 9.619 MG 19.726 MG
June 2019 8.553 MG 5.923 MG 14.476 MG
July 2019 3.575 MG 2.821 MG 6.396 MG
August 2019 2.675 MG 1.946 MG 4.621 MG
September 2019
7.611 MG 7.283 MG 14.894 MG
October 2019
9.365 MG 5.561 MG 15.926 MG
November 2019 7.944 MG 3.738 MG 11.682 MG
December 2019 7.798 MG 2.964 MG 10.762 MG
Agenda Page #25
Inframark Monthly Management Report 7
5. Lake Elevations
-70.00-65.00-60.00-55.00-50.00-45.00-40.00-35.00-30.00-25.00-20.00-15.00-10.00
-5.000.005.00
10.0015.0020.00
Lake 5
2020
2019
2018
2017
ZeroLine
-60.00-55.00-50.00-45.00-40.00-35.00-30.00-25.00-20.00-15.00-10.00
-5.000.005.00
10.0015.00
Lake 24
2020
2019
2018
2017
ZeroLine
Agenda Page #26
Inframark Monthly Management Report 8
6. Fountains & Aeration: West fountain in Lake 24 was not operational. West diffuser in Lake 10
did not appear to be working.
Lake 24 (west)
7. Boundary Wall: Cap on wall between Lakes 19 and 20 still broken.
8. Preserves: Brazilian pepper noted in a few locations within the FPL easement area. Wild hog
rooting was also noted
Agenda Page #27
Inframark Monthly Management Report 9
C3 and C4 Preserve area is starting to encroach on adjacent residences. May want to discuss another trimming event.
9. Fish/Wildlife Observations:
Bass Bream Catfish Gambusia Egrets Herons Coots Gallinules Anhinga Cormorant Osprey Ibis Woodstork Otter Alligators Snakes Turtles Other: Woodcock, mergansers_ _______
Agenda Page #28
Inframark Monthly Management Report 10
10. Residential Complaints/Concerns: Two dead fish noted in Lake 13. No apparent cause.
Fence along Matera Lane appears to be repaired
11. Non-CDD Issues: Area by building at northeast corner of Lake 24 seemed to be drier during
this inspection but still had algal growth in the grass.
Agenda Page #29
4Eii.
Agenda Page #30
1
1 MINUTES OF MEETING 2
VASARI 3 COMMUNITY DEVELOPMENT DISTRICT 4
5 The regular meeting of the Board of Supervisors of the Vasari Community Development 6
District was held Tuesday, January 14, 2020 at 9:00 a.m. at the Vasari Country Club, located at 7
11250 Via De Vasari Drive, Bonita Springs, Florida. 8
9 Present and constituting a quorum were: 10
11 Richard Brant Chairman 12 Barry Sands Vice Chairman 13 Dennis Lavalle Assistant Secretary 14 Jeffrey Shein Assistant Secretary 15 Richard Kraska Assistant Secretary 16 17 Also present were: 18 19 Justin Faircloth District Manager 20 Steve Malvinni Vasari Country Club 21 Gonzalo Ayers L&WM 22 23
The following is a summary of the discussions and actions taken at the January 14, 2020 24 Vasari Community Development District’s Board of Supervisors Meeting. 25 26
FIRST ORDER OF BUSINESS Roll Call 27 Mr. Brant called the meeting to order and Mr. Faircloth called the roll. 28
29 SECOND ORDER OF BUSINESS Approval of Agenda 30
31 On MOTION by Mr. Sands seconded by Mr. Lavalle, with all in 32 favor, the agenda was approved. 33
34
THIRD ORDER OF BUSINESS Audience Comments on Agenda 35 Items 36
There being none at this time, the next item followed. 37 38 FOURTH ORDER OF BUSINESS Staff Report 39
A. Fountains/Aerators 40 i. Fountain Inspection Report Completed on December 30, 2019 41
Agenda Page #31
January 14, 2020 Vasari CDD
• Mr. Sands noted the descriptions are wrong on the second page of the report – on Lake 24 42
it is the west fountain that is down not the east. 43
• Mr. Sands addressed the comment on Lake 24 - Incoming Power Issue: 4 pole breaker has 44
173V on (1) pole and 10-15V on the other (3) - and inquired why there is no note regarding 45
a proposal. 46
o Mr. Faircloth noted they needed an electrician to look at it and he just received the 47
proposal via email. Proposal 2020-11070 – new thermal overload for switch on 48
the fountain of Lake 24 for $328. 49
• Mr. Faircloth addressed the communication issues FF&E is still having in the office and 50
the conversation he had with them that this has to change. 51
52 ** Proposal 2020-11070 53 54
On MOTION by Mr. Sands seconded by Mr. Lavalle, with all in 55 favor, proposal 2020-11070 for a new thermal overload switch in 56 the amount of $328 was approved. 57
58 ii. Aeration Inspection Report Completed on December 30, 2019 59
• The Lake 1 compressor cabinet was discussed with Mr. Faircloth noting the proposal 60
received included more materials than needed. 61
62 iii. Fountain & Aeration Log 63
No discussion. 64
65
Mr. Vic Squires joined the meeting, so the Board addressed the drainage item under the 66
Engineer’s Report. 67
68
B. Engineer’s Report 69 • Mr. Faircloth reported included in the agenda package are emails from Mr. Lombardo and 70
Mr. Squires with regard to the Matera drainage issue. In the last email Mr. Lombardo noted 71
what he would like to do and how to fix this. Mr. Faircloth forwarded the email to Hole 72
Montes to ask if it would work. Mr. Cole responded if the CDD should approve this the 73
drainage pipe should extend 15 feet into the lake from the highwater mark. 74
• Mr. Brant outlined the drainage issue at Matera and the proposed fix. 75
Agenda Page #32
January 14, 2020 Vasari CDD
• Discussion continued on the drainage issue and repair. 76
o Pipes have to be weighted and sunk. 77
o If a catch basin is installed there has to be two-foot riprap perimeter and filter fabric 78
around the catch basin and the pipe has to run 15 feet past the highwater mark. It 79
cannot be single-walled pipe. 80
o The CDD will not install and maintain the pipe. 81
• Mr. Vic Squires outlined the HOA’s plan to fix the drainage issue. 82
o Mr. Sands inquired if there are drawings for the proposed fix. 83
o Mr. Squires noted they have the elevation the City insisted they do. There were 84
four different plans before the City was satisfied. 85
o Mr. Brant noted the CDD needs to know how the HOA is trenching the water as it 86
comes into the lake. The Engineer has said they have to extend the pipe 15 feet 87
into the lake. 88
• Discussion continued on the drainage issue. The Board decided that either the Chairman 89
or Vice Chairman would visit the site with Mr. Squires to discuss the situation after the 90
meeting. 91
92
FOURTH ORDER OF BUSINESS Staff Report (continued) 93 A. Fountains/Aerators 94
** Proposal 2020-11071 95 • Mr. Faircloth noted he received the proposal for the aeration cabinet on Lake 1 at a cost of 96
$793.25. The price includes a box enclosure, cooling fan, base and installation. 97
98 The record will reflect Mr. Kraska and Mr. Sands have left the meeting. 99
100 • Discussion continued on the aeration cabinet. 101
102 The record will reflect Mr. Sands has rejoined the meeting and Mr. Shein has left the 103
meeting. 104
105
The record will reflect Mr. Kraska has rejoined the meeting. 106
107
Agenda Page #33
January 14, 2020 Vasari CDD
On MOTION by Mr. Sands seconded by Mr. Lavalle, with all in 108 favor, proposal 2020-11071 to replace the enclosure, cooling fan 109 and base at a cost of $793.25 was approved. 110
111 C. Attorney’s Report 112 i. Easement Update 113 • Mr. Faircloth reported they got word from Mr. Malvinni yesterday that he is fine with 114
everything. Mr. Urbancic will be submitting everything to the Master Association for their 115
review. 116
117 ii. Facilities Maintenance Agreement Update 118
iii. Vasari CDD / Vasari Country Club Master Association, Inc Lease 119 Agreement Update 120
• Mr. Faircloth reported with regard to the concerns Mr. Urbancic had with the transferred 121
property with the legal descriptions, the Engineer is looking at that and needs to do some 122
further investigation. 123
124 The record will reflect Mr. Shein rejoined the meeting. 125
126 D. Lake & Wetland Management 127 i. Monthly Inspection Report 128 • Mr. Brant addressed the work done on Lake 22. 129
o Mr. Ayers noted Charra is an algae plant, they have in numerous ponds, but it is 130
small. It filters the water and they do not like to treat it unless it gets out of hand. 131
• Mr. Brant addressed some of the lakes looking green. 132
o Mr. Faircloth noted it is algae in the water. 133
o Mr. Ayers noted Lake 3 does not have a lot of plants and is deeper. 134
o Mr. Brant noted Lake 4 is very green. 135
o Mr. Ayers noted Lake 4 has a lot of plants and should be clearer. The lakes depend 136
on what is on the bottom; if there is a lot of organic matter it will reflect it. 137
o Discussion continued on the lake beds. 138
• Mr. Brant addressed doing a test on a lake drain and inquired if they have looked at it. 139
o Mr. Faircloth noted he has looked at it one time. It was installed as test on Lake 140
10. The product is called No Flood. To install around the whole community the 141
Agenda Page #34
January 14, 2020 Vasari CDD
cost would be $20,000 for year one and year two would be a cost of $14,000 142
according to his understanding of the materials provided by Mr. Malvinni. 143
o Discussion continued on the product. 144
• Mr. Faircloth requested an update on the fish stocking on Lake 24. 145
o Mr. Ayers noted he believes it was done. 146
• Mr. Faircloth inquired if they are done on Lakes 3 and 8. They were doing repairs on Lake 147
8 and adding more rock on Lake 3. 148
o Mr. Ayers noted they are completed. 149
• Mr. Faircloth noted the Field Manager’s Report notes the Thalia is beginning to brown and 150
needs to be cut. 151
o Mr. Ayers noted it cannot be done this month. It is scheduled for the beginning of 152
February. 153
• Discussion continued on the lakes, Triploid Grass Carp and armored catfish. 154
• Mr. Ayers noted the plants seem to be doing well. 155
o Mr. Brant noted he is seeing more swamp lily. 156
o Mr. Ayers noted there are some areas where they could add plants before summer. 157
158
E. Manager’s Report 159 i. Field Manager’s Report 160
• Mr. Faircloth reported: 161
o They are monitoring erosion, but it is hard to do when the lake levels are high. 162
o Lake 24 will be back up and running once the thermal switch is replaced. 163
o Requested the I-75 wall be repaired but has not heard back. He will continue to 164
follow-up. 165
o FP&L is done with what they were doing. 166
o There is some maintenance that needs to take place and Mr. Faircloth will follow-167
up with Earth Balance. 168
o The Earth Balance contract should be renewing this spring. He anticipates hearing 169
from them as they wanted to increase the contract last year. 170
o For the water quality report; it automatically renewed for the same terms of the 171
contract for another year. 172
• Mr. Brant addressed the item in the Field Report about encroachment on the fence at C-4. 173
Agenda Page #35
January 14, 2020 Vasari CDD
o Mr. Faircloth noted they will handle it with the next treatment. 174
• Mr. Brant inquired about the damage on the fence between Matera and …. 175
o Mr. Faircloth noted it is done. 176
o Mr. Brant inquired if they paid the CDD. 177
o Mr. Faircloth noted they were reimbursed a while ago from that. 178
• Discussion followed on Brazilian pepper over hanging the wall at the cul-de-sac on 179
Toscana Way. 180
• Discussion returned to the Matera drainage issue and fix. 181
182
ii. Approval of the Minutes of the December 10, 2019 Meeting 183 184
Mr. Sands MOVED to approve the minutes of the December 10, 185 2019 meeting and Mr. Lavalle seconded the motion. 186
187 • Mr. Shein noted the date of the next meeting was not included in the minutes. 188
189 On VOICE vote, with all in favor, the minutes were approved as 190 amended. 191
192
iv. Acceptance of the November 2019 Financial Statements and Check 193 Register 194
195 Mr. Shein MOVED to approve the November 2019 financial 196 statements and check register and Mr. Brant seconded the motion. 197 198
• Mr. Lavalle inquired about Fund Balance. 199 o Mr. Faircloth noted it is $361,831. For assessments at the end of November they 200
were 29% collected. 201
• Mr. Lavalle addressed the reserves inquiring if it is already included in the budget. 202
o Mr. Faircloth noted it is listed as Reserves. 203
• Mr. Brant addressed the allocation for General and Debt Service. 204
205 The record will reflect Mr. Sands has left the meeting. 206
207 On VOICE vote, with all in favor, the minutes were approved. 208
Agenda Page #36
January 14, 2020 Vasari CDD
209
iv. Follow Up Items 210 • Mr. Faircloth noted he will reach out to FEMA for an update on where they are with the 211
appeal. 212
213 The record will reflect Mr. Sands has rejoined the meeting. 214
215 FIFTH ORDER OF BUSINESS Old Business 216 A. Master Association Clubhouse Expansion 217
There being no report, the next item followed. 218
219 SIXTH ORDER OF BUSINESS New Business 220 There being none, the next item followed. 221 222
SEVENTH ORDER OF BUSINESS Master Association Report 223 • Discussion followed on the project with it being noted they are looking at the plans to try 224
and make some changes to remain within the budget or survey the residents regarding an 225
increase to the HOA assessment for the project. 226
227 EIGHTH ORDER OF BUSINESS Supervisors’ Requests 228 • Discussion followed regarding an email received by Mr. Brant for an audit with Mr. 229
Faircloth noting it is only required if the District received FEMA funds and they have not 230
received any. 231
• Mr. Sands addressed the algae / debris on the surface of the lake and lake bed in front of 232
his building. 233
o Discussion followed on grass clippings, natural debris and street drain debris and 234
how to dispose of it when removed from the lake. 235
• Mr. Faircloth noted he failed to mention previously that they have executed the contract 236
with Campus Suites. They have redesigned the website, it has been reviewed and changes 237
requested. The website is ADA compliant. 238
o A notice was received from the CDD insurer regarding ADA items, and this has 239
been forwarded on to Mr. Urbancic for review. Mr. Faircloth will have Campus 240
Suite add anything to the website as recommended by Mr. Urbancic. 241
o Mr. Brant inquired if the agenda appears on the website. 242
o Mr. Faircloth noted it does within the agenda packet. 243
Agenda Page #37
January 14, 2020 Vasari CDD
o Mr. Brant inquired if the budget is posted on the website. 244
o Mr. Faircloth noted the tentative is posted until the budget is adopted. 245
o Minutes are no longer posted on the website as they are not required by statute. 246
They are included in the agenda package that is posted on the website. 247
o Discussion followed on the Community Friday Facts. 248
249
NINTH ORDER OF BUSINESS Audience Comments 250 There being none, the next order of business followed. 251 252 TENTH ORDER OF BUSINESS Adjournment 253 The next meeting will be February 11, 2020. 254
There being no further business, 255
256 On MOTION by Mr. Sands seconded by Mr. Lavalle with all in 257 favor, the meeting was adjourned. 258
259 260 ________________________________ _______________________________ 261 Justin Faircloth Richard Brant 262 Secretary Chairman 263
Agenda Page #38
4Eiii.
Agenda Page #39
Vasari
Community Development District
Financial Report
December 31, 2019
Prepared by:
Agenda Page #40
FINANCIAL STATEMENTS
Balance Sheet - All Funds …………………………………………………. Page 1
Statement of Revenues, Expenditures and Changes in Fund Balances
General Fund …………………………………………………. Page 2 - 3
Debt Service Fund …………………………………………………. Page 4
SUPPORTING SCHEDULES
Non-Ad Valorem Special Assessments …………………………………………………. Page 5
Cash and Investment Report …………………………………………………. Page 6
Bank Reconciliation …………………………………………………. Page 7
Check Register …………………………………………………. Page 8
Vasari
Community Development District
Table of Contents
Agenda Page #41
Vasari
Community Development District
(Unaudited)
Financial Statements
December 31, 2019
Agenda Page #42
VASARI
Community Development District
Balance Sheet
December 31, 2019
Governmental Funds
ACCOUNT DESCRIPTION
GENERAL
FUND
SERIES 2012
DEBT SERVICE
FUND TOTAL
ASSETS
Cash - Checking Account 313,025$ -$ 313,025$
Cash with Fiscal Agent 800,000 - 800,000
Due From Other Funds - 601,186 601,186
Investments:
Money Market Account 91,132 - 91,132
Reserve Fund - 70,870 70,870
Revenue Fund - 87,231 87,231
Deposits 380 - 380
TOTAL ASSETS 1,204,537$ 759,287$ 1,963,824$
LIABILITIES
Accounts Payable 20,479$ -$ 20,479$
Accrued Expenses 1,475 - 1,475
Due To Other Funds 601,186 - 601,186
TOTAL LIABILITIES 623,140 - 623,140
FUND BALANCES
Nonspendable:
Deposits 380 - 380
Restricted for:
Debt Service - 759,287 759,287
Assigned to:
Operating Reserves 26,064 - 26,064
Reserves - Bulkheads 29,078 - 29,078
Reserves - Fountains 45,882 - 45,882
Reserves - Irrigation System 84,946 - 84,946
Reserves - Lakes 41,583 - 41,583
Reserves - Perimeter 5,725 - 5,725
Reserves - Stormwater System 20,848 - 20,848
Unassigned: 326,891 - 326,891
TOTAL FUND BALANCES 581,397$ 759,287$ 1,340,684$
TOTAL LIABILITIES & FUND BALANCES 1,204,537$ 759,287$ 1,963,824$
Page 1
Agenda Page #43
VASARI
Community Development DistrictGeneral Fund
ANNUAL YTD ACTUAL
ADOPTED YEAR TO DATE AS A % OF DEC-19
ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL
REVENUES
Interest - Investments 7,500$ 1,667$ 22.23% 982$
Interest - Tax Collector - 918 0.00% -
Special Assmnts- Tax Collector 459,221 387,313 84.34% 252,094
Special Assmnts- Discounts (18,369) (15,408) 83.88% (9,959)
TOTAL REVENUES 448,352 374,490 83.53% 243,117
EXPENDITURES
Administration
P/R-Board of Supervisors 12,000 3,000 25.00% 1,000
FICA Taxes 918 230 25.05% 77
ProfServ-Arbitrage Rebate 600 600 100.00% -
ProfServ-Engineering 5,000 - 0.00% -
ProfServ-Legal Services 10,000 7,979 79.79% 6,094
ProfServ-Mgmt Consulting Serv 59,796 15,730 26.31% 5,358
ProfServ-Property Appraiser 766 - 0.00% -
ProfServ-Special Assessment 5,111 5,111 100.00% 5,111
ProfServ-Web Site Development 868 217 25.00% 72
Auditing Services 5,450 - 0.00% -
Postage and Freight 1,500 333 22.20% 35
Insurance - General Liability 8,845 7,315 82.70% -
Printing and Binding 1,500 15 1.00% 15
Legal Advertising 500 - 0.00% -
Misc-Assessmnt Collection Cost 315 423 134.29% 211
Misc-Contingency 1,100 165 15.00% 47
Misc-Web Hosting 500 388 77.60% -
Office Supplies 500 116 23.20% 39
Annual District Filing Fee 175 175 100.00% -
Total Administration 115,444 41,797 36.21% 18,059
Conservation and Resource Mgmt
Contracts-Preserve Maintenance 4,500 1,125 25.00% 375
R&M-Mitigation 600 - 0.00% -
R&M-Preserves 2,500 - 0.00% -
Total Conservation and Resource Mgmt 7,600 1,125 14.80% 375
Field
ProfServ-Field Management 15,056 4,225 28.06% 1,715
R&M-General 2,000 792 39.60% -
R&M-Renewal and Replacement 1,000 - 0.00% -
Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending December 31, 2019
Page 2
Agenda Page #44
VASARI
Community Development DistrictGeneral Fund
ANNUAL YTD ACTUAL
ADOPTED YEAR TO DATE AS A % OF DEC-19
ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL
Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending December 31, 2019
R&M-Walls and Signage 5,000 - 0.00% -
Total Field 23,056 5,017 21.76% 1,715
Lakes and Ponds
Contracts-Fountain 12,200 1,650 13.52% 550
Contracts-Water Mgmt Services 33,644 8,411 25.00% 2,804
Contracts-Water Quality 4,570 1,898 41.53% -
Electricity - Aerator 3,400 728 21.41% 235
Property Insurance 6,280 4,486 71.43% -
R&M-Aquascaping 7,500 8,747 116.63% -
R&M-Irrigation 8,500 - 0.00% (1,140)
R&M-Lake 32,000 3,400 10.63% -
R&M-Stormwater System 5,000 1,310 26.20% 1,310
R&M-Aeration & Fountains 15,000 368 2.45% (358)
R&M-Bulkhead 20,440 - 0.00% -
Cap Outlay- Lake 27,404 - 0.00% -
Total Lakes and Ponds 175,938 30,998 17.62% 3,401
Capital Expenditures & Projects
Cap Outlay- Lake 16,560 - 0.00% -
Total Capital Expenditures & Projects 16,560 - 0.00% -
Reserves
Reserve - Bulkheads 14,539 - 0.00% -
Reserves - Irrigation System 42,473 - 0.00% -
Reserve - Lakes 12,062 - 0.00% -
Reserves - Perimeter 6,861 - 0.00% -
Reserve-Stormwater System 10,424 - 0.00% -
Reserve-Aeration & Fountains 23,395 - 0.00% -
Total Reserves 109,754 - 0.00% -
TOTAL EXPENDITURES & RESERVES 448,352 78,937 17.61% 23,550
Excess (deficiency) of revenues
Over (under) expenditures - 295,553 0.00% 219,567
Net change in fund balance -$ 295,553$ 0.00% 219,567$
FUND BALANCE, BEGINNING (OCT 1, 2019) 285,844 285,844
FUND BALANCE, ENDING 285,844$ 581,397$
Page 3
Agenda Page #45
VASARI
Community Development DistrictSeries 2012 Debt Service Fund
ANNUAL YTD ACTUAL
ADOPTED YEAR TO DATE AS A % OF DEC-19
ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL
REVENUES
Interest - Investments 5,000$ 787$ 15.74% 166$
Special Assmnts- Tax Collector 747,903 630,796 84.34% 410,572
Special Assmnts- Discounts (29,916) (25,094) 83.88% (16,220)
TOTAL REVENUES 722,987 606,489 83.89% 394,518
EXPENDITURES
Administration
ProfServ-Property Appraiser 544 - 0.00% -
ProfServ-Trustee Fees 3,800 - 0.00% -
Misc-Assessmnt Collection Cost 816 688 84.31% 344
Total Administration 5,160 688 13.33% 344
Debt Service
Principal Debt Retirement 570,000 - 0.00% -
Principal Prepayments - 5,000 0.00% -
Interest Expense 140,895 70,448 50.00% -
Total Debt Service 710,895 75,448 10.61% -
TOTAL EXPENDITURES 716,055 76,136 10.63% 344
Excess (deficiency) of revenues
Over (under) expenditures 6,932 530,353 394,174
OTHER FINANCING SOURCES (USES)
Contribution to (Use of) Fund Balance 6,932 - 0.00% -
TOTAL FINANCING SOURCES (USES) 6,932 - 0.00% -
Net change in fund balance 6,932$ 530,353$ 394,174$
FUND BALANCE, BEGINNING (OCT 1, 2019) 228,934 228,934
FUND BALANCE, ENDING 235,866$ 759,287$
Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending December 31, 2019
Page 4
Agenda Page #46
December 31, 2019
Vasari
Community Development District
Supporting Schedules
Agenda Page #47
VASARICommunity Development District
Net Discount / Gross
Date Amount (Penalties) Collection Amount General Debt Service
Received Received Amount Costs Received Assmnts Assmnts
Assessments Levied for FY 2020 $1,207,120 459,217$ 747,903$
Allocation % 100% 38% 62%
11/15/19 43,632$ 1,941$ -$ 45,572$ 17,337$ 28,236$
11/29/19 296,934 12,382 555 309,871 117,882 191,989
12/16/19 558,130 23,256 555 581,941 221,384 360,557
12/30/19 77,800 2,924 - 80,724 30,709 50,015
TOTAL 976,496 40,502 1,111 1,018,109 387,313 630,796
% COLLECTED 84% 84% 84%
TOTAL O/S 189,012$ 71,904$ 117,107$
FUND ALLOCATION
Non Ad-Valorem Special Assessments
(Lee County Tax Collector - Monthly Collection Distributions)
For the Fiscal Year Ending September 30, 2020
Page 5
Agenda Page #48
VASARICommunity Development District All Funds
General Fund
Account Name Bank Name Investment Type Maturity Yield Balance
Checking Account - Operating SunTrust Public Funds NOW n/a 0.90% $313,025
Cash with Fiscal Agent BankUnited Deposit in Transit n/a n/a $800,000 (1)
Money Market Acct BankUnited Money Market n/a 1.50% $91,132
Subtotal $1,204,157
Debt Service Fund
Account Name Bank Name Investment Type Maturity Yield Balance
Series 2012 Reserve Fund US Bank 1st American Oblig Fund n/a 0.10% $70,870
Series 2012 Revenue Fund US Bank 1st American Oblig Fund n/a 0.10% $87,230
Subtotal $158,100
Total $1,362,258
Note (1) Deposit in Transit to MMA from GF.
Cash and Investment Report
December 31, 2019
Page 6
Agenda Page #49
Posting Date
Document Type
Document No. Description Amount
Cleared Amount Difference
Outstanding Checks
12/16/2019 Payment 002561 BARRY J. SANDS 184.70 0.00 184.70
12/27/2019 Payment 002564 INFRAMARK, LLC 6,763.25 0.00 6,763.25
12/31/2019 Payment 002565 FEDERAL EXPRESS 27.64 0.00 27.64
12/31/2019 Payment 002566 INNERSYNC STUDIO LTD 756.15 0.00 756.15
12/31/2019 Payment 002567 LAKE & WETLAND MANAGEMENT INC 3,400.00 0.00 3,400.00
12/31/2019 Payment 002568 SWFL GATES, INC. 244.95 0.00 244.95
12/31/2019 Payment 002569 VASARI CDD 800,000.00 0.00 800,000.00
Total Outstanding Checks...................................................................................................................... 811,376.69 811,376.69
G/L Balance 313,025.00
Bank Account No. 5189
Statement No. 12-19
Statement Date 12/31/2019
Statement Balance 1,124,401.69G/L Balance (LCY) 313,025.00
Difference 0.00
Ending G/L Balance 313,025.00
Subtotal 313,025.00
Outstanding Deposits 0.00
Negative Adjustments 0.00
Positive Adjustments 0.00
Subtotal 1,124,401.69
Outstanding Checks 811,376.69
Ending Balance 313,025.00
Differences 0.00
SunTrust Bank N.A. GF
Bank Reconciliation
Vasari CDD
Page 7
Agenda Page #50
Fund
No.
Check /
ACH No.Date Payee Invoice No. Payment Description Invoice / GL Description G/L Account #
Amount
Paid
GENERAL FUND - 001
001 002553 12/12/19 FEDERAL EXPRESS 6-850-31442 NOV POSTAGE Postage and Freight 541006-51301 $13.98
001 002565 12/31/19 FEDERAL EXPRESS 6-862-34599 DECEMBER POSTAGE Postage and Freight 541006-51301 $13.66
001 002565 12/31/19 FEDERAL EXPRESS 6-869-82152 DEC POSTAGE Postage and Freight 541006-51301 $13.98
001 002556 12/12/19 FLORIDA FOUNTAINS & EQUIP LLC 2019-11117 FOUNTAIN #13 REPLACE 7.5 START BOX R&M-Aeration & Fountains 546364-53917 $368.00
001 002564 12/27/19 INFRAMARK, LLC 46521 NOVEMBER MGMNT FEES ProfServ-Mgmt Consulting Serv 531027-51201 $4,983.00
001 002564 12/27/19 INFRAMARK, LLC 46521 NOVEMBER MGMNT FEES ProfServ-Field Management 531016-53901 $1,254.67
001 002564 12/27/19 INFRAMARK, LLC 46521 NOVEMBER MGMNT FEES Postage and Freight 541006-51301 $8.50
001 002564 12/27/19 INFRAMARK, LLC 46521 NOVEMBER MGMNT FEES Office Supplies 551002-51301 $38.50
001 002564 12/27/19 INFRAMARK, LLC 46521 NOVEMBER MGMNT FEES ProfServ-Web Site Development 531047-51301 $72.33
001 002564 12/27/19 INFRAMARK, LLC 46521 NOVEMBER MGMNT FEES ProfServ-Mgmt Consulting Serv 531027-51201 $406.25
001 002557 12/12/19 INNERSYNC STUDIO LTD 17692 ADA WEBSITE COMPLIANCE Misc. Web Hosting 549915-51301 $756.15
001 002566 12/31/19 INNERSYNC STUDIO LTD 18040 WEB CDD IMPLEMENTATION ProfServ-Web Site Development 531047-51301 $756.15
001 002554 12/12/19 LAKE & WETLAND MANAGEMENT INC 7409 DEC LAKE MAINT Contracts-Water Mgmt Services 534047-53917 $2,803.70
001 002567 12/31/19 LAKE & WETLAND MANAGEMENT INC 7328 LAKE 25 SPIKE RUSH TREATMENT R&M-Lake 546042-53917 $3,400.00
001 002555 12/12/19 M.R.I. UNDERWATER SPECIALISTS, INC 37766 WET WELL MAINT & SERVICE R&M Irrigation 546041-53917 $170.00
001 DD176 12/20/19 FPL- ACH 111919-7055 ACH 10/21-11/19/19 ELEC ACH #84604-77055 Electricity - Aerator 543051-53917 $64.66
001 DD179 12/31/19 FPL- ACH 121919-7055 ACH 11/19-12/19/19 ELEC ACH #84604-77055 Electricity - Aerator 543051-53917 $71.63
001 DD180 12/31/19 FPL- ACH 76054-121919 11/19-12/19/19 ELEC ACH Electricity - Aerator 543051-53917 $163.27
001 002558 12/12/19 SWFL GATES, INC. SR 7215 BAL BALANCE DUE FENCE REPLACEMENT BALANCE DUE 546001-53901 $547.50
001 002568 12/31/19 SWFL GATES, INC. SR 7234 FENCE REPAIRS R&M-General 546001-53901 $244.95
001 002569 12/31/19 VASARI CDD 122019 XFER FUNDS TO MMA Cash with Fiscal Agent 103000 $800,000.00
001 002561 12/16/19 BARRY J. SANDS PAYROLL December 16, 2019 Payroll Posting $184.70
001 002559 12/16/19 DENNIS P LAVALLE PAYROLL December 16, 2019 Payroll Posting $184.70
001 002560 12/16/19 JEFFREY H. SHEIN PAYROLL December 16, 2019 Payroll Posting $184.70
001 002562 12/16/19 RICHARD A. BRANT PAYROLL December 16, 2019 Payroll Posting $184.70
001 002563 12/16/19 RICHARD KRASKA PAYROLL December 16, 2019 Payroll Posting $184.70
Fund Total $817,074.38
Total Checks Paid $817,074.38
(Sorted by Payee)
Payment Register by Fund
For the Period from 12/1/2019 to 12/31/2019
Community Development District
VASARI
Page 8
Agenda Page #51
4Eiv.
Agenda Page #52
VASARI COMMUNITY DEVELOPMENT DISTRICT
LEE COUNTY, FLORIDA FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019
Agenda Page #53
VASARI COMMUNITY DEVELOPMENT DISTRICT LEE COUNTY, FLORIDA
TABLE OF CONTENTS Page
INDEPENDENT AUDITOR’S REPORT 1-2 MANAGEMENT’S DISCUSSION AND ANALYSIS 3-6 BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements:
Statement of Net Position 7
Statement of Activities 8
Fund Financial Statements:
Balance Sheet – Governmental Funds 9
Reconciliation of Balance Sheet – Governmental Funds to the Statement of
Net Position 10
Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds 11
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities
12
Notes to the Financial Statements 13-20
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – General Fund
21
Notes to Required Supplementary Information 22
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL
REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN
AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS 23-24
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS
OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10)
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
25
MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL
OF THE STATE OF FLORIDA 26-27
Agenda Page #54
951 Yamato Road ▪ Suite 280 Boca Raton, Florida 33431 (561) 994-9299 ▪ (800) 299-4728 Fax (561) 994-5823 www.graucpa.com
INDEPENDENT AUDITOR’S REPORT
To the Board of Supervisors Vasari Community Development District Lee County, Florida Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities and each major fund of Vasari Community Development District, Lee County, Florida (the “District”) as of and for the fiscal year ended September 30, 2019, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the District as of September 30, 2019, and the respective changes in financial position thereof for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.
Agenda Page #55
2
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis and budgetary comparison information be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated January 30, 2020, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control over financial reporting and compliance.
January 30, 2020
Agenda Page #56
3
MANAGEMENT’S DISCUSSION AND ANALYSIS Our discussion and analysis of Vasari Community Development District, Lee County, Florida (“District”) provides a narrative overview of the District’s financial activities for the fiscal year ended September 30, 2019. Please read it in conjunction with the District’s Independent Auditor’s Report, basic financial statements, accompanying notes and supplementary information to the basic financial statements. FINANCIAL HIGHLIGHTS
• The assets of the District exceeded its liabilities at the close of the most recent fiscal year resulting in a net position balance of $12,083,544.
• The change in the District’s total net position in comparison with the prior fiscal year was $571,921, an increase. The key components of the District’s net position and change in net position are reflected in the table in the government-wide financial analysis section.
• At September 30, 2019, the District’s governmental funds reported combined ending fund balances of $514,779, an increase of $63,274 in comparison with the prior fiscal year. The total fund balance is non-spendable for prepaids and deposits, restricted for debt service, assigned to reserves, and the remainder is unassigned fund balance which is available for spending at the District’s discretion.
OVERVIEW OF FINANCIAL STATEMENTS This discussion and analysis are intended to serve as the introduction to the District’s basic financial statements. The District’s basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. 1) Government-Wide Financial Statements The government-wide financial statements are designed to provide readers with a broad overview of the District’s finances, in a manner similar to a private-sector business. The statement of net position presents information on all the District’s assets, deferred outflows of resources, liabilities, and deferred inflows of resources with the residual amount being reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating. The statement of activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods. The government-wide financial statements include all governmental activities that are principally supported by special assessment revenues. The District does not have any business-type activities. The governmental activities of the District include the general government (management) and maintenance (operations) functions. 2) Fund Financial Statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The District has one fund category: governmental funds.
Agenda Page #57
4
OVERVIEW OF FINANCIAL STATEMENTS (Continued) Governmental Funds
Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a District’s near-term financing requirements. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the District’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balance provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The District maintains two governmental funds for external reporting. Information is presented separately in the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances for the general and debt service funds. Both funds are considered to be major funds. The District adopts an annual appropriated budget for its general fund. A budgetary comparison schedule has been provided for the general fund to demonstrate compliance with the budget. 3) Notes to the Financial Statements The notes provide additional information that is essential to a full understanding of the data included in the government-wide and fund financial statements. GOVERNMENT-WIDE FINANCIAL ANALYSIS As noted earlier, net position may serve over time as a useful indicator of an entity’s financial position. In the case of the District, assets exceeded liabilities at the close of the most recent fiscal year. Key components of the District’s net position are reflected in the following table:
2019 2018
Current and other assets 557,666$ 466,133$
Capital assets, net of depreciation 16,677,472 16,740,392
Total assets 17,235,138 17,206,525
Current liabilities 101,594 79,902
Long-term liabilities 5,050,000 5,615,000
Total liabilities 5,151,594 5,694,902
Net position
Net investment in capital assets 11,627,472 11,125,392
Restricted for debt service 170,227 162,117
Unrestricted 285,845 224,114
Total net position 12,083,544$ 11,511,623$
SEPTEMBER 30,
NET POSITION
The District’s net position reflects its investment in capital assets (e.g. land, land improvements, and infrastructure) less any related debt used to acquire those assets that is still outstanding. These assets are used to provide services to residents; consequently, these assets are not available for future spending. Although the District’s investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.
Agenda Page #58
5
GOVERNMENT-WIDE FINANCIAL ANALYSIS (Continued) The restricted portion of the District’s net position represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net position may be used to meet the District’s other obligations. The District’s net position increased during the most recent fiscal year. The majority of the increase represents the extent to which ongoing program revenues exceeded the cost of operations and depreciation expense. Key elements of the change in net position are reflected in the following table:
Revenues: 2019 2018
Program revenues 1,170,987$ 1,174,414$
General revenues 29,056 9,244
Total revenues 1,200,043 1,183,658
Expenses:
General government 133,311 115,588
Maintenance and operations 344,859 336,006
Interest 149,952 165,446
Total expenses 628,122 617,040
Change in net position 571,921 566,618
Net position - beginning 11,511,623 10,945,005
Net position - ending 12,083,544$ 11,511,623$
CHANGES IN NET POSITION
FOR THE FISCAL YEAR ENDED SEPTEMBER 30,
As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year ended September 30, 2019 was $628,122. The costs of the District’s activities were primarily funded by program revenues. The remainder of the current fiscal year revenue is interest revenue and miscellaneous revenue. Overall, revenue increased due to the District receiving FEMA reimbursements in the current fiscal year. In total, expenses, including depreciation, increased from the prior fiscal year. The majority of the increase was the result of an increase in maintenance and repairs. GENERAL BUDGETING HIGHLIGHTS An operating budget was adopted and maintained by the governing board for the District pursuant to the requirements of Florida Statutes. The budget is adopted using the same basis of accounting that is used in preparation of the fund financial statements. The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2019. CAPITAL ASSETS AND DEBT ADMINISTRATION Capital Assets At September 30, 2019, the District had $18,489,620 invested in land and land improvements, and infrastructure. In the government-wide financial statements depreciation of $1,812,148 has been taken, which resulted in a net book value of $16,677,472. More detailed information about the District’s capital assets is presented in the notes of the financial statements. Capital Debt At September 30, 2019, the District had $5,050,000 in Bonds outstanding for its governmental activities. More detailed information about the District’s capital debt is presented in the notes of the financial statements.
Agenda Page #59
6
ECONOMIC FACTORS AND NEXT YEAR’S BUDGET The District does not anticipate any major projects or significant changes to its infrastructure maintenance program for the subsequent fiscal year. In addition, it is anticipated that the general operations of the District will remain fairly constant. CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT This financial report is designed to provide our citizens, land owners, customers, investors and creditors with a general overview of the District’s finances and to demonstrate the District’s accountability for the financial resources it manages and the stewardship of the facilities it maintains. If you have questions about this report or need additional financial information, contact the Vasari Community Development District’s Finance Department at 210 N. University Drive, Suite 702, Coral Springs, Florida, 33071.
Agenda Page #60
7
VASARI COMMUNITY DEVELOPMENT DISTRICT LEE COUNTY, FLORIDA
STATEMENT OF NET POSITION SEPTEMBER 30, 2019
ASSETS
Cash and cash equivalents 318,867$
Due from other government 421
Prepaids and deposits 5,616
Restricted assets:
Investments 232,762
Capital assets:
Nondepreciable 13,708,904
Depreciable, net 2,968,568
Total assets 17,235,138
LIABILITIES
Accounts payable and accrued expenses 42,887
Accrued interest payable 58,707
Non-current liabilities:
Due within one year 570,000
Due in more than one year 4,480,000
Total liabilities 5,151,594
NET POSITION
Net investment in capital assets 11,627,472
Restricted for debt service 170,227
Unrestricted 285,845
Total net position 12,083,544$
Governmental
Activities
See notes to the financial statements
Agenda Page #61
8
VASARI COMMUNITY DEVELOPMENT DISTRICT LEE COUNTY, FLORIDA
STATEMENT OF ACTIVITIES FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019
Charges Operating
for Grants and Governmental
Functions/Programs Expenses Services Contributions Activities
Primary government:
Governmental activities:
General government 133,311$ 133,311$ -$ -$
Maintenance and operations 344,859 309,553 - (35,306)
Interest on long-term debt 149,952 721,269 6,854 578,171
Total governmental activities 628,122 1,164,133 6,854 542,865
General revenues:
Investment earnings 9,097
Miscellaneous 19,959
Total general revenues 29,056
Change in net position 571,921
Net position - beginning 11,511,623
Net position - ending 12,083,544$
Net (Expense)
Revenue and
Changes in Net
Position
Program
Revenues
See notes to the financial statements
Agenda Page #62
9
VASARI COMMUNITY DEVELOPMENT DISTRICT LEE COUNTY, FLORIDA
BALANCE SHEET GOVERNMENTAL FUNDS
SEPTEMBER 30, 2019
Debt
General Service
ASSETS
Cash and cash equivalents 318,867$ -$ 318,867$
Investments - 232,762 232,762
Due from other governments 160 261 421
Due from other fund 4,089 - 4,089
Prepaids and deposits 5,616 - 5,616
Total assets 328,732$ 233,023$ 561,755$
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable and accrued expenses 42,887$ -$ 42,887$
Due to other fund - 4,089 4,089
Total liabilities 42,887 4,089 46,976
Fund balances:
Nonspendable:
Prepaids and deposits 5,616 - 5,616
Restricted for:
Debt service - 228,934 228,934
Assigned to:
Operating reserves 48,420 - 48,420
Maintenance reserves 228,062 - 228,062
Unassigned 3,747 - 3,747
Total fund balances 285,845 228,934 514,779
Total liabilities and fund balances 328,732$ 233,023$ 561,755$
Total
Governmental
Funds
Major Funds
See notes to the financial statements
Agenda Page #63
10
VASARI COMMUNITY DEVELOPMENT DISTRICT LEE COUNTY, FLORIDA
RECONCILIATION OF BALANCE SHEET – GOVERNMENTAL FUNDS TO STATEMENT OF NET POSITION
SEPTEMBER 30, 2019
Fund balance - governmental funds 514,779$
Amounts reported for governmental activities in the statement of
net position are different because:
Capital assets used in governmental activities are not financial
resources and, therefore, are not reported as assets in the
governmental funds. The statement of net position includes those
capital assets, net of any accumulated depreciation, in the net
position of the government as a whole.
Cost of capital assets 18,489,620
Accumulated depreciation (1,812,148) 16,677,472
Liabilities not due and payable from current available resources
are not reported as liabilities in the governmental fund financial
statements. All liabilities, both current and long-term, are
reported in the government-wide financial statements.
Accrued interest payable (58,707)
Bonds payable (5,050,000) (5,108,707)
Net position of governmental activities 12,083,544$
See notes to the financial statements
Agenda Page #64
11
VASARI COMMUNITY DEVELOPMENT DISTRICT LEE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019
Debt
General Service
REVENUES
Assessments 442,864$ 721,269$ 1,164,133$
Interest 9,097 6,854 15,951
Miscellaneous revenues 19,959 - 19,959
Total revenues 471,920 728,123 1,200,043
EXPENDITURES
Current:
General government 128,250 5,061 133,311
Maintenance and operations 213,389 - 213,389
Debt Service:
Principal - 565,000 565,000
Interest - 156,519 156,519
Capital outlay 68,550 - 68,550
Total expenditures 410,189 726,580 1,136,769
Excess (deficiency) of revenues
over (under) expenditures 61,731 1,543 63,274
Fund balances - beginning 224,114 227,391 451,505
Fund balances - ending 285,845$ 228,934$ 514,779$
Major Funds Total
Governmental
Funds
See notes to the financial statements
Agenda Page #65
12
VASARI COMMUNITY DEVELOPMENT DISTRICT LEE COUNTY, FLORIDA
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019
Net change in fund balances - total governmental funds 63,274$
Amounts reported for governmental activities in the statement of activities
are different because:
Repayment of long-term liabilities are reported as expenditures in the
governmental fund financial statements but such repayments reduce
liabilities in the statement of net position and are eliminated in the
statement of activities. 565,000
Governmental funds report capital outlays as expenditures, however,
the cost of capital assets is eliminated in the statement of activities
and capitalized in the statement of net position. 68,550
The change in accrued interest on long-term liabilities between the
current and prior fiscal year is recorded in the statement of activities
but not in the fund financial statements. 6,567
Depreciation of capital assets is not recognized in the governmental
fund financial statements, but is reported as an expense in the
statement of activities. (131,470)
Change in net position of governmental activities 571,921$
See notes to the financial statements
Agenda Page #66
13
VASARI COMMUNITY DEVELOPMENT DISTRICT LEE COUNTY, FLORIDA
NOTES TO FINANCIAL STATEMENTS NOTE 1 - NATURE OF ORGANIZATION AND REPORTING ENTITY Vasari Community Development District ("District"), located in Lee County, was created on June 21, 2001 pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes, by City of Bonita Springs Ordinance. The Act provides among other things, the power to manage basic services for community development, power to borrow money and issue bonds, and to levy and assess non-ad valorem assessments for the financing and delivery of capital infrastructure. The District was established for the purposes of financing and managing the acquisition, construction, maintenance and operation of a portion of the infrastructure necessary for community development within the District. The District is governed by the Board of Supervisors ("Board"), which is composed of five members. The Supervisors are elected by qualified electors within the District. The Board of Supervisors of the District exercise all powers granted to the District pursuant to Chapter 190, Florida Statutes. The Board has the responsibility for: 1. Assessing and levying assessments. 2. Approving budgets. 3. Exercising control over facilities and properties. 4. Controlling the use of funds generated by the District. 5. Approving the hiring and firing of key personnel. 6. Financing improvements. The financial statements were prepared in accordance with Governmental Accounting Standards Board (“GASB”) Statements. Under the provisions of those standards, the financial reporting entity consists of the primary government, organizations for which the District is considered to be financially accountable, and other organizations for which the nature and significance of their relationship with the District are such that, if excluded, the financial statements of the District would be considered incomplete or misleading. There are no entities considered to be component units of the District; therefore, the financial statements include only the operations of the District.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Government-Wide and Fund Financial Statements The basic financial statements include both government-wide and fund financial statements. The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements. The statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers who purchase, use or directly benefit from goods, services or privileges provided by a given function or segment. Operating-type special assessments for maintenance and debt service are treated as charges for services and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Other items not included among program revenues are reported instead as general revenues.
Agenda Page #67
14
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Measurement Focus, Basis of Accounting and Financial Statement Presentation The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Assessments are recognized as revenues in the year for which they are levied. Grants and similar items are to be recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.
Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures are recorded only when payment is due. Assessments Assessments are non-ad valorem assessments on benefited lands within the District. Assessments are levied to pay for the operations and maintenance of the District. The fiscal year for which annual assessments are levied begins on October 1 with discounts available for payments through February 28 and become delinquent on April 1. The District’s annual assessments for operations and debt service are billed and collected by the County Tax Assessor/Collector. The amounts remitted to the District are net of applicable discounts or fees and include interest on monies held from the day of collection to the day of distribution. Assessments and interest associated with the current fiscal period are considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. The portion of assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period.
The District reports the following major governmental funds:
General Fund The general fund is the general operating fund of the District. It is used to account for all financial resources except those required to be accounted for in another fund. Debt Service Fund The debt service fund is used to account for the accumulation of resources for the annual payment of principal and interest on long-term debt. As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements. When both restricted and unrestricted resources are available for use, it is the government’s policy to use restricted resources first for qualifying expenditures, then unrestricted resources as they are needed. Assets, Liabilities and Net Position or Equity Restricted Assets These assets represent cash and investments set aside pursuant to Bond covenants or other contractual restrictions.
Agenda Page #68
15
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Assets, Liabilities and Net Position or Equity (Continued) Deposits and Investments The District’s cash and cash equivalents are considered to be cash on hand and demand deposits (interest and non-interest bearing). The District has elected to proceed under the Alternative Investment Guidelines as set forth in Section 218.415 (17) Florida Statutes. The District may invest any surplus public funds in the following:
a) The Local Government Surplus Trust Funds, or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act;
b) Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency;
c) Interest bearing time deposits or savings accounts in qualified public depositories; d) Direct obligations of the U.S. Treasury.
Securities listed in paragraphs c and d shall be invested to provide sufficient liquidity to pay obligations as they come due. In addition, surplus funds may be deposited into certificates of deposit which are insured and any unspent Bond proceeds are required to be held in investments as specified in the Bond Indenture. The District records all interest revenue related to investment activities in the respective funds and reports its investments at fair value. Inventories and Prepaid Items Inventories of governmental funds are recorded as expenditures when consumed rather than when purchased. Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements. Capital Assets Capital assets, which include property, plant and equipment, and infrastructure assets (e.g., roads, sidewalks and similar items) are reported in the governmental activities columns in the government-wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than $5,000 (amount not rounded) and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the date of donation. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed. Property, plant and equipment of the District are depreciated using the straight-line method over the following estimated useful lives:
Assets Years
Infrastructure 7 - 40 In the governmental fund financial statements, amounts incurred for the acquisition of capital assets are reported as fund expenditures. Depreciation expense is not reported in the governmental fund financial statements.
Unearned Revenue Governmental funds report unearned revenue in connection with resources that have been received, but not yet earned.
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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Assets, Liabilities and Net Position or Equity (Continued)
Long-Term Obligations In the government-wide financial statements long-term debt and other long-term obligations are reported as liabilities in the statement of net position. Bond premiums and discounts are deferred and amortized ratably over the life of the Bonds. Bonds payable are reported net of applicable premiums or discounts. Bond issuance costs are expensed when incurred. In the fund financial statements, governmental fund types recognize premiums and discounts, as well as issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures. Deferred Outflows/Inflows of Resources In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then. In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. Fund Equity/Net Position In the fund financial statements, governmental funds report non spendable and restricted fund balance for amounts that are not available for appropriation or are legally restricted by outside parties for use for a specific purpose. Assignments of fund balance represent tentative management plans that are subject to change. The District can establish limitations on the use of fund balance as follows:
Committed fund balance – Amounts that can be used only for the specific purposes determined by a formal action (resolution) of the Board of Supervisors. Commitments may be changed or lifted only by the Board of Supervisors taking the same formal action (resolution) that imposed the constraint originally. Resources accumulated pursuant to stabilization arrangements sometimes are reported in this category. Assigned fund balance – Includes spendable fund balance amounts established by the Board of Supervisors that are intended to be used for specific purposes that are neither considered restricted nor committed. The Board may also assign fund balance as it does when appropriating fund balance to cover differences in estimated revenue and appropriations in the subsequent year’s appropriated budget. Assignments are generally temporary and normally the same formal action need not be taken to remove the assignment.
The District first uses committed fund balance, followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used.
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17
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Assets, Liabilities and Net Position or Equity (Continued) Fund Equity/Net Position (Continued) Net position is the difference between assets and deferred outflows of resources less liabilities and deferred inflows of resources. Net position in the government-wide financial statements are categorized as net investment in capital assets, restricted or unrestricted. Net investment in capital assets represents net position related to infrastructure and property, plant and equipment. Restricted net position represents the assets restricted by the District’s Bond covenants or other contractual restrictions. Unrestricted net position consists of the net position not meeting the definition of either of the other two components. Other Disclosures Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates.
NOTE 3 - BUDGETARY INFORMATION
The District is required to establish a budgetary system and an approved Annual Budget. Annual Budgets are adopted on a basis consistent with generally accepted accounting principles for the general fund. All annual appropriations lapse at fiscal year-end. The District follows these procedures in establishing the budgetary data reflected in the financial statements. a) Each year the District Manager submits to the District Board a proposed operating budget for the
fiscal year commencing the following October 1. b) Public hearings are conducted to obtain public comments. c) Prior to October 1, the budget is legally adopted by the District Board. d) All budget changes must be approved by the District Board. e) Annual budgets are adopted on a basis consistent with generally accepted accounting principles. f) All annual appropriations lapse at fiscal year-end. NOTE 4 - DEPOSITS AND INVESTMENTS Deposits The District’s cash balances were entirely covered by federal depository insurance or by a collateral pool pledged to the State Treasurer. Florida Statutes Chapter 280, "Florida Security for Public Deposits Act", requires all qualified depositories to deposit with the Treasurer or another banking institution eligible collateral equal to various percentages of the average daily balance for each month of all public deposits in excess of any applicable deposit insurance held. The percentage of eligible collateral (generally, U.S. Governmental and agency securities, state or local government debt, or corporate bonds) to public deposits is dependent upon the depository's financial history and its compliance with Chapter 280. In the event of a failure of a qualified public depository, the remaining public depositories would be responsible for covering any resulting losses.
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NOTE 4 - DEPOSITS AND INVESTMENTS (Continued) Investments The District’s investments were held as follows at September 30, 2019:
Amortized Cost Credit Risk Maturities
First American Government Obligation Fund CL Y 232,762$ S&P AAAm
Weighted average of the fund
portfolio: 24 days
Total Investments 232,762$
Credit risk – For investments, credit risk is generally the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Investment ratings by investment type are included in the preceding summary of investments. Concentration risk – The District places no limit on the amount the District may invest in any one issuer. Interest rate risk – The District does not have a formal policy that limits investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates. However, the Bond Indenture limits the type of investments held using unspent proceeds. Fair Value Measurement – When applicable, the District measures and records its investments using fair value measurement guidelines established in accordance with GASB Statements. The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques. These guidelines recognize a three-tiered fair value hierarchy, in order of highest priority, as follows:
• Level 1: Investments whose values are based on unadjusted quoted prices for identical
investments in active markets that the District has the ability to access;
• Level 2: Investments whose inputs - other than quoted market prices - are observable either directly or indirectly; and,
• Level 3: Investments whose inputs are unobservable. The fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the entire fair value measurement. Valuation techniques used should maximize the use of observable inputs and minimize the use of unobservable inputs. Money market investments that have a maturity at the time of purchase of one year or less and are held by governments other than external investment pools should be measured at amortized cost. Accordingly, the District’s investments have been reported at amortized cost above NOTE 5 – INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS Interfund receivables and payables at September 30, 2019 were as follows:
Fund Receivable Payable
General 4,089$ -$
Debt Service - 4,089
Total 4,089$ 4,089$
The outstanding balances between the funds result primarily from the time lag between the dates that the transactions are recorded in the accounting system and payments between the funds are made. In the case of the District, the balances between the general fund and the debt service fund relates to trustee fees paid from the general fund on behalf of the debt service fund.
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NOTE 6 - CAPITAL ASSETS Capital asset activity for the fiscal year ended September 30, 2019 was as follows:
Beginning
Balance Additions Reductions
Ending
Balance
Governmental activities
Capital assets, not being depreciated
Land and land improvements 13,708,904$ -$ -$ 13,708,904$
Total capital assets, not being depreciated 13,708,904 - - 13,708,904
Capital assets, being depreciated
Infrastructure - w ater control and other 4,712,166 68,550 - 4,780,716
Total capital assets, being depreciated 4,712,166 68,550 - 4,780,716
Less accumulated depreciation for:
Infrastructure - w ater control and other 1,680,678 131,470 - 1,812,148
Total accumulated depreciation 1,680,678 131,470 - 1,812,148
Total capital assets, being depreciated, net 3,031,488 (62,920) - 2,968,568
Governmental activities capital assets, net 16,740,392$ (62,920)$ -$ 16,677,472$
In connection with the District’s infrastructure and development, in July 9, 2019 the District entered into a land swap agreement with Vasari Country Club Master Association, Inc., for the conveyance of approximately 0.69 acres of real property owned by the District for approximately 1.318 acres of real property owned by Vasari County Club Master Association, Inc. The value of the two tracks were considered to be the same. Depreciation expense was charged to the maintenance and operations function. NOTE 7 – LONG-TERM LIABILITIES On August 15, 2012, the District issued Capital Improvement Revenue Refunding Bonds, Series 2012 due May 1, 2027, with a fixed interest rate of 2.79%. The Bonds were issued to exchange the District’s outstanding Capital Improvement Revenue Refunding Bonds, Series 2008. Interest is to be paid semiannually on each May 1 and November 1. Principal on the Bonds is to be paid serially commencing May 1, 2013 through May 1, 2027. The Series 2012 Bonds are subject to redemption at the option of the District prior to their maturity and are subject to extraordinary mandatory redemption as outlined in the Third Supplemental Trust Indenture. The Bond Indenture established a debt service reserve requirement as well as other restrictions and requirements relating principally to the use of proceeds and the procedures to be followed by the District on assessments to property owners. The District agrees to levy special assessments in annual amounts adequate to provide payment of debt service and to meet the reserve requirements. The District was in compliance with the requirements at September 30, 2019. Changes in long-term liability activity for the fiscal year ended September 30, 2019 were as follows:
Beginning
Balance Additions Reductions
Ending
Balance
Due Within
One Year
Governmental activities
Bonds payable:
Series 2012 5,615,000$ -$ 565,000$ 5,050,000$ 570,000$
Total 5,615,000$ -$ 565,000$ 5,050,000$ 570,000$
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NOTE 7 – LONG-TERM LIABILITIES (Continued) At September 30, 2019, the scheduled debt service requirements on the long-term debt were as follows:
Year ending
September 30: Principal Interest Total
2020 570,000$ 140,896$ 710,896$
2021 590,000 124,992 714,992
2022 605,000 108,532 713,532
2023 620,000 91,652 711,652
2024 640,000 74,354 714,354
2025-2027 2,025,000 114,112 2,139,112
Total 5,050,000$ 654,538$ 5,704,538$
Governmental Activities
NOTE 8 – FACILITIES MAINTENANCE AGREEMENT In a prior fiscal year, the District and Vasari Country Club Master Association Inc. (“HOA”) executed a facilities maintenance agreement relating to the eastern boundary landscaping and buffer improvements. Pursuant to the agreement, the HOA will operate and maintain the improvements for the duration of the agreement and also fund such operations and maintenance. The District will be responsible for funding major capital repairs or replacements to the buffer improvements which in the aggregate would exceed $10,000. In the current year, the District paid $10 to the HOA related to the agreement. NOTE 9 - MANAGEMENT COMPANY The District has contracted with a management company to perform management advisory services, which include financial and accounting services. Certain employees of the management company also serve as officers of the District. Under the agreement, the District compensates the management company for management, accounting, financial reporting, and other administrative costs. NOTE 10 - RISK MANAGEMENT The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters. The District has obtained commercial insurance from independent third parties to mitigate the costs of these risks; coverage may not extend to all situations. There were no settled claims during the past three years.
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21
VASARI COMMUNITY DEVELOPMENT DISTRICT LEE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019
Actual
Original & Final Amounts
REVENUES
Assessments 440,852$ 442,864$ 2,012$
Miscellaneous revenues - 19,959 19,959
Interest - 9,097 9,097
Total revenues 440,852 471,920 31,068
EXPENDITURES
Current:
General government 113,402 128,250 (14,848)
Maintenance and operations 310,890 213,389 97,501
Capital outlay 16,560 68,550 (51,990)
Total expenditures 440,852 410,189 30,663
Excess (deficiency) of revenues
over (under) expenditures -$ 61,731 61,731$
Fund balance - beginning 224,114
Fund balance - ending 285,845$
Variance with
Final Budget -
Positive
(Negative)
Budgeted
Amounts
See notes to required supplementary information
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22
VASARI COMMUNITY DEVELOPMENT DISTRICT LEE COUNTY, FLORIDA
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION The District is required to establish a budgetary system and an approved Annual Budget for the general fund. The District’s budgeting process is based on estimates of cash receipts and cash expenditures which are approved by the Board. The budget approximates a basis consistent with accounting principles generally accepted in the United States of America (generally accepted accounting principles). The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2019.
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951 Yamato Road ▪ Suite 280 Boca Raton, Florida 33431 (561) 994-9299 ▪ (800) 299-4728 Fax (561) 994-5823 www.graucpa.com
23
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT
OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
To the Board of Supervisors Vasari Community Development District Lee County, Florida We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities and each major fund of Vasari Community Development District Lee County, Florida (the “District”) as of and for the fiscal year ended September 30, 2019, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our opinion thereon dated January 30, 2020.
Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the District’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the District’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.
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Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.
January 30, 2020
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951 Yamato Road ▪ Suite 280 Boca Raton, Florida 33431 (561) 994-9299 ▪ (800) 299-4728 Fax (561) 994-5823 www.graucpa.com
25
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10) OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
To the Board of Supervisors Vasari Community Development District Lee County, Florida We have examined Vasari Community Development District, Lee County, Florida’s (“District”) compliance with the requirements of Section 218.415, Florida Statutes, in accordance with Rule 10.556(10) of the Auditor General of the State of Florida during the fiscal year ended September 30, 2019. Management is responsible for the District’s compliance with those requirements. Our responsibility is to express an opinion on the District’s compliance based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the District complied, in all material respects, with the specified requirements referenced in Section 218.415, Florida Statutes. An examination involves performing procedures to obtain evidence about whether the District complied with the specified requirements. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material noncompliance, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the District’s compliance with specified requirements. In our opinion, the District complied, in all material respects, with the aforementioned requirements for the fiscal year ended September 30, 2019. This report is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, management, and the Board of Supervisors of Vasari Community Development District, Lee County, Florida and is not intended to be and should not be used by anyone other than these specified parties. January 30, 2020
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951 Yamato Road ▪ Suite 280 Boca Raton, Florida 33431 (561) 994-9299 ▪ (800) 299-4728 Fax (561) 994-5823 www.graucpa.com
26
MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL FOR THE STATE OF FLORIDA
To the Board of Supervisors Vasari Community Development District Lee County, Florida Report on the Financial Statements We have audited the accompanying basic financial statements of Vasari Community Development District, Lee County, Florida ("District") as of and for the fiscal year ended September 30, 2019, and have issued our report thereon dated January 30, 2020. Auditor’s Responsibility We conducted our audit in accordance with auditing 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; and Chapter 10.550, Rules of the Florida Auditor General. Other Reporting Requirement We have issued our Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters based on an audit of the financial statements performed in accordance with Government Auditing Standards; and Independent Accountant’s Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated January 30, 2020, should be considered in conjunction with this management letter. Purpose of this Letter The purpose of this letter is to comment on those matters required by Chapter 10.550 of the Rules of the Auditor General for the State of Florida. Accordingly, in connection with our audit of the financial statements of the District, as described in the first paragraph, we report the following: I. Current year findings and recommendations. II. Status of prior year findings and recommendations. III. Compliance with the Provisions of the Auditor General of the State of Florida. Our management letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, Federal and other granting agencies, as applicable, management, and the Board of Supervisors of Vasari Community Development District, Lee County, Florida and is not intended to be and should not be used by anyone other than these specified parties. We wish to thank Vasari Community Development District, Lee County, Florida and the personnel associated with it, for the opportunity to be of service to them in this endeavor as well as future engagements, and the courtesies extended to us.
January 30, 2020
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REPORT TO MANAGEMENT I. CURRENT YEAR FINDINGS AND RECOMMENDATIONS
None
II. PRIOR YEAR FINDINGS AND RECOMMENDATIONS
None III. COMPLIANCE WITH THE PROVISIONS OF THE AUDITOR GENERAL OF THE STATE OF
FLORIDA
Unless otherwise required to be reported in the auditor’s report on compliance and internal controls, the management letter shall include, but not be limited to the following:
1. A statement as to whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report.
There were no significant findings and recommendations made in the preceding annual financial audit report for the fiscal year ended September 30, 2018.
2. Any recommendations to improve the local governmental entity's financial management.
There were no such matters discovered by, or that came to the attention of, the auditor, to be reported for the fiscal year ended September 30, 2019.
3. Noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance.
There were no such matters discovered by, or that came to the attention of, the auditor, to be reported, for the fiscal year ended September 30, 2019.
4. The name or official title and legal authority of the District are disclosed in the notes to the financial statements.
5. The District has not met one or more of the financial emergency conditions described in Section 218.503(1), Florida Statutes.
6. We applied financial condition assessment procedures and no deteriorating financial conditions
were noted as of September 30, 2019. It is management’s responsibility to monitor financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same.
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4Ev.
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Sixth Order of Business
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6B.
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1
AMENDMENT TO SPECIAL SERVICE AGREEMENT
THIS AMENDMENT TO SPECIAL SERVICE AGREEMENT (this “Amendment”) is made
and entered into as of this ______ day of _____________, 2020, by and between VASARI COMMUNITY
DEVELOPMENT DISTRICT, a local unit of special purpose government established pursuant to Chapter
190, Florida Statutes (the “District”) and LAKE & WETLAND MANAGEMENT ORLANDO-
TAMPA, INC., a Florida corporation (the “Contractor”).
WITNESSETH:
WHEREAS, the District and Contractor have entered into that certain Special Service Agreement
dated January 12, 2016 (“Agreement”), which Agreement includes that certain Addendum to Special
Service Agreement dated as of January 12, 2016; and
WHEREAS, District and Contractor have determined it to be necessary to amend extend the the
term of the Agreement as set forth herein.
NOW, THEREFORE, the parties agree as follows:
1. RECITALS. That the above recitals are true and correct and are incorporated herein.
2. DEFINITIONS. Unless otherwise specifically defined herein, capitalized terms shall
have the meaning set forth in the Agreement.
3. SCOPE OF LAKE MAINTENANCE SERVICES. The Agreement (which includes the
Addendum to Special Service Agreement dated as of January 12, 2016) is in full force and effect and the
Term of the Agreement shall be extended an additional year through January 11, 2021, unless terminated
prior to that time pursuant to the provisions set forth in the Agreement. Thereafter, this Agreement will be
automatically extended for additional one (1) year periods (hereinafter, an “Annual Renewal Term”) unless
otherwise terminated or either party provides written notice of non-renewal to the other no later than ninety
(90) days prior to the expiration of the Term or Annual Renewal Term, as applicable. Each Annual Renewal
Term shall be on the same terms and conditions as the immediately preceding year of the Term or Annual
Renewal Term, as applicable, unless agreed upon in writing by the parties.
4. CONFLICTS. Except as modified hereby, the terms and conditions of the Agreement
shall remain in full force and effect. To the extent of a conflict between this Amendment and the
Agreement, this Amendment shall prevail.
{Remainder of page intentionally left blank. Signatures appear on next page.}
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2
IN WITNESS WHEREOF, the parties execute this Amendment as of the date first written
above.
DISTRICT:
VASARI COMMUNITY
Attest: DEVELOPMENT DISTRICT
______________________________ By:
Justin Faircloth, Secretary Rich Brandt, Chairman
Dated:
CONTRACTOR:
LAKE & WETLAND MANAGEMENT ORLANDO-
TAMPA, INC.,
a Florida corporation
By:
Name:
Title:
Dated:
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3
EXHIBIT “A”
SCOPE OF SERVICE
Description of Service (Note: all references to numbered lakes shall refer to the designations shown on the attached
map):
A. Lake management service (Lakes 1-29) including algae, border grass, and invasive exotic plant control
including submersed vegetation for twenty-nine (29) lakes totaling approximately 55,054 linear feet.
1. LWM shall provide all supervision, labor, herbicide, equipment, materials and incidentals necessary
for the maintenance treatment.
2. LWM will visit the site no less than six (6) times monthly with treatments as necessary to control
undesirable growth. A minimum of seventy-two (72) visits will be performed annually (including quarterly aquatic
consultations).
3. All Florida Exotic Pest Plant Council (FLEPPC) listed invasive exotic species will be treated in
place with EPA-certified herbicides. No vegetation or algae will be removed from the waterway.
4. Native vegetation will be left for the benefit of fish and wildlife, unless otherwise requested.
5. Casual debris, defined as cups, plastic and other man-made materials, will be removed and disposed
of during scheduled service visits. Large man-made materials, dumped items and coconuts will not be removed. Palm
fronds or naturally occurring landscape debris will be removed and disposed of during scheduled service visits.
6. A comprehensive management report will be submitted detailing work performed upon completion
of each service visit.
7. Algae Control. Algae will be maintained to within the littoral shelf only. Any algae that expands
beyond the littoral shelf will be chemically treated upon identification. Algae will be manually removed if chemical
treatment fails.
8. Border grasses, vines and brush will not exceed 3%.
9. Quarterly water samples will be performed to test pH, temperature & Dissolved Oxygen for up to 5
sites.
10. Aquatic Consultation on a quarterly basis with staff.
11. Littoral Zones / Plantings:
A. Littorals behind residential homes will not exceed a maximum width of five (5) feet. Any
littorals growing outside of this zone will be treated.
B. Littorals along the golf course & common areas will be left in their natural state.
C. No littorals will be left within the driving range portion of Lake 19.
12. Ground crew will manually pull weeds on each lake every month (12 times per year). All debris will
be hauled off site.
13. Price includes use of our Truxor amphibious work boat to target problem areas at no extra charge.
14. Maintain rock banks/rip rap free from weeds as needed.
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4
15. Trimming of Alligator flag will be included as needed.
16. All control structures will be kept free and clear of weed growth.
17. Excessive or substantial cuttings or trimmings must be cleared and disposed of by Contractor and
not left in, on or around the lake banks.
B. Lake management service (Lakes 30A and 30B) including algae, border grass, submersed vegetation and
invasive exotic plant control for all shorelines of one (1) lake (Lake 30A); two (2) lake shore lines (East bank of Lake
30B and West border of Lake 30 B adjacent to the Quarry boat launch); and
*Price includes the maintenance of all rock areas around lakes and control structures within the district
1. LWM shall provide all supervision, labor, herbicide, equipment, materials and incidentals necessary
for the maintenance treatment. *Treatments will include aggressive treatment of Pondweed growing up from
bottom of lakes.
2. LWM will visit the site no less than twice monthly with treatments as necessary to control
undesirable growth. A minimum of twenty-four (24) visits will be performed annually.
3. LWM will dispatch the use of an amphibious work boat to mechanically harvest pondweed from
Lakes 30A and 30B when necessary. Such action will include (i) keeping clear the east bank of Lake 30B, west border
of Lake 30B and the bridge area and (ii) addressing patches throughout the middle of Lakes 30A and 30B. All cut
debris will be removed within one week with particular attention to the lake bank areas bordering The Quarry.
4. All Florida Exotic Pest Plant Council (FLEPPC) listed invasive exotic species will be treated in
place with EPA-certified herbicides. No vegetation or algae will be removed from the waterway.
5. Native vegetation will be left for the benefit of fish and wildlife, unless otherwise requested.
6. Casual debris, defined as cups, plastic and other man-made materials, will be removed and disposed
of during scheduled service visits. Large man-made materials, dumped items and coconuts will not be removed. Palm
fronds or naturally occurring landscape debris will be removed and disposed of during scheduled service visits.
7. A comprehensive service report will be submitted to the District Manager within one (1) week after
each visit, detailing the work performed. This report shall include the specific date of visit, all areas treated and/or
cut and the process utilized (chemical types utilized, use of mechanical harvester, etc.).
8. Algae Control. Algae will be maintained to within the littoral shelf only. Any algae that expands
beyond the littoral shelf will be chemically treated upon identification. Algae will be manually removed if chemical
treatment fails.
9. Border grasses, vines and brush will not exceed 3%.
10. Quarterly water samples will be performed to test pH, temperature & Dissolved Oxygen for 2 sites.
11. Aquatic consultation on a quarterly basis with staff. Contractor shall schedule the consultation with
the District Manager.
12. Littoral Zones / Plantings:
A. Littorals behind residential homes will not exceed a maximum width of five (5) feet. Any
littorals growing outside of this zone will be treated.
B. Littorals along the golf course & common areas will be left in their natural state.
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13. Ground crew will manually pull weeds on each lake every month (12 times per year). All debris will
be hauled off site.
14. Price includes use of our Truxor amphibious work boat to target problem areas at no extra charge.
15. Maintain rock banks/rip rap free from weeds as needed.
16. Trimming of Alligator flag will be included as needed.
17. All control structures will be kept free and clear of weed growth.
18. Excessive or substantial cuttings or trimmings must be cleared and disposed of by Contractor and
not left in, on or around the lake banks.
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