ACREE
Community Development District FEBRUARY 11, 2025

AGENDA

Acree Community Development District
475 West Town Place
Suite 114 St. Augustine, Florida 32092
	1-877-304-9269 Code: 5301710 
February 4, 2025

Board of Supervisors
Acree Community Development District Dear Board Members:
The Audit Committee Meeting of the Board of Supervisors of the Acree Community Development District will be held Tuesday, February 11, 2025 at 10:00 a.m. at 1000 Riverside Avenue, Suite 600, Jacksonville, Florida 32204. Immediately following will be the regular business meeting.
Audit Committee Meeting
Roll Call

Review and Ranking of Audit Proposals

Other Business

Adjournment

Regular Meeting
Roll Call

Public Comments (regarding agenda items below)

Consideration of Minutes of the January 14, 2025 Meeting

Public Hearing Imposing and Levying Master Special Assessments, Resolution 2025-06
Consideration of Proposals for Auditing Services

Staff Reports
Attorney

Engineer

Manager

Supervisor’s Request and Public Comments

Consideration of Funding Request No. 11
Financial Statements as of December 31, 2024
Next Scheduled Meeting – March 11, 2025 @ 10:00 a.m.
Adjournment

SECOND ORDER OF BUSINESS

Acree Community Development District	
Auditor Selection Evaluation Criteria	

	Ability of Personnel	Proposer's Experience	Understanding of
Scope of Work	Ability to Furnish the
Required Services	Price		
	(e.g., geographic locations of the firm's headquarters or permanent office in relation to the project; capabilities and experience of key personnel; present ability to manage this project; evaluation of existing workload; proposed staffing levels, etc.)	(e.g., past record and experience of the Proposer in similar projects; volume of work previously performed by the firm; past performance for other Community Development Districts in other contracts; character; integrity; reputation of respondent, etc.)	

Extent to which the proposal demonstrates an understanding of the District's needs for the services requested.	
Extent to which the proposal demonstrates the adequacy of proposer's financial resources and stability as a business entity necessary to complete the services required (e.g., the existence of any natural disaster plan for business operations).	

Points will be awarded based upon the price bid for the rendering of the services and reasonableness of the price to services.	

Point Total	
Proposer	20	20	20	20	20	100	

Berger, Toombs, Elam, Gaines & Frank						

Grau & Associates							

ACREE
COMMUNITY DEVELOPMENT DISTRICT PROPOSAL FOR AUDIT SERVICES

PROPOSED BY:

Berger, Toombs, Elam, Gaines & Frank CERTIFIED PUBLIC ACCOUNTANTS, PL

600 Citrus Avenue, Suite 200	(772) 461-6120 Fort Pierce, Florida 34950

CONTACT PERSON:
J. W. Gaines, CPA, Director

DATE OF PROPOSAL:

January 31, 2025

TABLE OF CONTENTS

DESCRIPTION OF SECTION	PAGE
Letter of Transmittal	1-2
Profile of the Proposer
Description and History of Audit Firm	3
Professional Staff Resources	4-5
Ability to Furnish the Required Services	5
Arbitrage Rebate Services	6
Governmental Auditing Experience	7-16
Fee Schedule	17
Scope of Work to be Performed	17
Resumes	18-35
Peer Review Letter	36
Instructions to Proposers	37-38
Evaluation Criteria	39

January 31, 2025

Acree Community Development District Governmental Management Services 475 West Town Place, Suite 114
St. Augustine, Florida 32092 Dear District Manager:
Thank you very much for the opportunity to present our professional credentials to provide audit services for Acree Community Development District.
Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL has assembled a team of governmental and nonprofit specialists second to none to serve our clients. Our firm has the necessary qualifications and experience to serve as the independent auditors for Acree Community Development District. We will provide you with top quality, responsive service.

Experience

Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL is a recognized leader in providing services to governmental and nonprofit agencies throughout Florida. We have been the independent auditors for a number of local governmental agencies and through our experience in performing their audits, we have been able to increase our audit efficiency and; therefore, reduce costs. We have continually passed this cost savings on to our clients and will continue to do so in the future. As a result of our experience and expertise, we have developed an effective and efficient audit approach designed to meet or exceed the performance specifications in accordance with 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 the standards for financial and compliance audits. We will conduct the audit in accordance with auditing standards generally accepted in the United States of America; “Government Auditing Standards” issued by the Comptroller General of the United States; the provisions of the Single Audit Act, Subpart F of Title 2 US Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, with minimal disruption to your operations. Our firm has frequent technical updates to keep our personnel informed and up-to-date on all changes that are occurring within the industry.

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Acree Community Development District January 31, 2025
Our firm is a member of the Government Audit Quality Center, an organization dedicated to improving government audit quality. We also utilize the audit program software of a nationally recognized CPA firm to assure us that we are up to date with all auditing standards and to assist us maintain maximum audit efficiencies.

To facilitate your evaluation of our qualifications and experience, we have arranged this proposal to include a resume of our firm, including our available staff, our extensive prior governmental and nonprofit auditing experience and clients to be contacted.
You need a firm that will provide an efficient, cost-effective, high-quality audit within critical time constraints. You need a firm with the prerequisite governmental and nonprofit experience to perform your audit according to stringent legal and regulatory requirements, a firm that understands the complex nature of community development districts and their unique compliance requirements. You need a firm with recognized governmental and nonprofit specialists within the finance and governmental communities. And, certainly, you need a firm that will provide you with valuable feedback to enhance your current and future operations. Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL is that firm. J. W. Gaines is the person authorized to make representations for the firm.
Thank you again for the opportunity to submit this proposal to Acree Community Development District.

Very truly yours,

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida

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Description and History of Audit Firm
Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL is a Treasure Coast public accounting firm, which qualifies as a small business firm, as established by the Small Business Administration (13 CFR 121.38), with offices in Fort Pierce and Stuart. We are a member of the Florida Institute of Certified Public Accountants and the American Institute of Certified Public Accountants. The firm was formed from the merger of Edwards, Berger, Harris & Company (originated in 1972) and McAlpin, Curtis & Associates (originated in 1949). J. W. Gaines and Associates (originated in 1979) merged with the firm in 2004. Our tremendous growth rate experienced over the last 69 years is directly attributable to the firm’s unrelenting dedication to providing the highest quality, responsive professional services attainable to its clients.
We are a member of the Private Companies Practice Section (PCPS) of the American Institute of Certified Public Accountants (AICPA) to assure we meet the highest standards. Membership in this practice section requires that our firm meet more stringent standards than standard AICPA membership. These rigorous requirements include the requirement of a triennial peer review of our firm’s auditing and accounting practice and annual Continuing Professional Education (CPE) for all accounting staff (whether CPA or non-CPA). For standard AICPA membership, only a quality review is required and only CPAs must meet CPE requirements.
We are also a member of the Government Audit Quality Center (“the Center”) of the American Institute of Certified Public Accountants to assure the quality of our government audits. Membership in the Center, which is voluntary, requires our firm to comply with additional standards to promote the quality of government audits.
We have been extensively involved in serving local government entities with professional accounting, auditing and consulting services throughout the entire 69 year history of our firm. Our substantial experience over the years makes us uniquely qualified to provide accounting, auditing, and consulting services to these clients. We are a recognized leader in providing services to governmental and nonprofit agencies on the Treasure Coast and in Central and South Florida, with extensive experience in auditing community development districts and water control districts. We were the independent auditors of the City of Fort Pierce for over 37 years and currently, we are the independent auditors for St. Lucie County since 2002, and for 34 of the 38 years that the county has been audited by CPA firms. Additionally, we have performed audits of the City of Stuart, the City of Vero Beach, Indian River County and Martin County. We also presently audit over 75 Community Development Districts throughout Florida.
Our firm was founded on the belief that we are better able to respond to our clients needs through education, experience, independence, quality control, and personal service. Our firm’s commitment to quality is reflected in our endeavor of professional excellence via continuing education, the use of the latest computer technology, professional membership in PCPS and peer review.
We believe our approach to audit engagements, intelligence and innovation teamed with sound professional judgment enables us to explore new concepts while remaining sensitive to the fundamental need for practical solutions. We take pride in giving you the assurance that the personal assistance you receive comes from years of advanced training, technical experience and financial acumen.

Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL has a total of
27 professional and administrative staff (including 12 professional staff with extensive experience servicing government entities). The work will be performed out of our Fort Pierce office with a proposed staff of one senior accountant and one or two staff accountants supervised by an audit manager and audit partner. With the exception of the directors of the firm’s offices, the professional staff is not specifically assigned to any of our individual offices. The professional and administrative staff resources available to you through Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL are as follows:
Total
Partners/Directors (CPA’s)	6	
Managers (2 CPA’s)	2	
Senior/Supervisor Accountants (3 CPA’s)	3	
Staff Accountants (2 CPA)	11	
Computer Specialist	1	
Paraprofessional	7	
Administrative	 5	
Total – all personnel	35	

Following is a brief description of each employee classification:
Staff Accountant – Staff accountants work directly under the constant supervision of the auditor-in-charge and, are responsible for the various testing of documents, account analysis and any other duties as his/her supervisor believes appropriate. Minimum qualification for a staff accountant is graduation from an accredited university or college with a degree in accounting or equivalent.

Senior Accountant – A senior accountant must possess all the qualifications of the staff accountant, in addition to being able to draft the necessary reports and financial statements, and supervise other staff accountants when necessary.
Managers – A manager must possess the qualifications of the senior accountant, plus be able to work without extensive supervision from the auditor-in-charge. The manager should be able to draft audit reports from start to finish and to supervise the audit team, if necessary.
Principal – A principal is a partner/director in training. He has been a manager for several years and possesses the technical skills to act as the auditor–in-charge. A principal has no financial interest in the firm.

Partner/Director – The director has extensive governmental auditing experience and acts as the auditor-in-charge. Directors have a financial interest in the firm.

Independence – Independence of the public accounting firm, with respect to the audit client, is the foundation from which the public gains its trust in the opinion issued by the public accounting firm at the end of the audit process. This independence must be in appearance as well as in fact. The public must perceive that the accounting firm is independent of the audit entity to ensure that nothing would compromise the opinion issued by the public accounting firm. Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL is independent of Acree Community Development District, including its elected officials and related parties, at the date of this proposal, as defined by the following rules, regulations, and standards:
AuSection 220 – Statements on Auditing Standards issued by the American Institute of Certified Public Accountants;
ET Sections 101 and 102 – Code of Professional Conduct of the American Institute of Certified Public Accountants;
Chapter 21A-1, Florida Administrative Code; Section 473.315, Florida Statutes; and,
Government Auditing Standards, issued by the Comptroller General of the United States.
On an annual basis, all members of the firm are required to confirm, in writing, that they have no personal or financial relationships or holding that would impair their independence with regard to the firm’s clients.

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

As previously noted in the Profile of the Proposer section of this document, our firm has been in existence for over 74 years. We have provided audit services to some clients for over 30 years continually. Our firm is insured against physical loss through commercial insurance and we also carry liability insurance. The majority of our audit documentation is stored electronically, both on our office network and on each employee laptop or computer assigned to each specific job. Our office computer network is backed up on tape, so in the event of a total equipment loss, we can restore all data as soon as replacement equipment is acquired. In addition, our field laptop computers carry the same data and can be used in the event of emergency with virtually no delay in completing the required services.

Arbitrage Rebate Services

Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL also provides arbitrage rebate compliance and related services to governmental issuers. The Tax Reform Act of 1986 requires issuers of most tax-exempt obligations to pay (i.e., “rebate”) to the United States government any arbitrage profits. Arbitrage profits are earnings on the investment of bond proceeds and certain other monies in excess of what would have been earned had such monies been invested at a yield equal to the yield on the bonds.
Federal tax law requires that interim rebate calculations and payments are due at the end of every fifth bond year. Final payment is required upon redemption of the bonds. More frequent calculations may be deemed advisable by an issuer’s auditor, trustee or bond counsel or to assure that accurate and current records are available. These more frequent requirements are usually contained in the Arbitrage or Rebate Certificate with respect to the bonds.

Our firm performs a comprehensive rebate analysis and includes the following:
Verifying that the issue is subject to rebate;
Calculating the bond yield;
Identifying, and separately accounting for, all “Gross Proceeds” (as that term is defined in the Code) of the bond issue, including those requiring analysis due to “transferred proceeds” and/or “commingled funds” circumstances;
Determining what general and/or elective options are available to Gross proceeds of the issue;
Calculating the issue’s excess investment earning (rebate liability), if any;
Delivering appropriate documentation to support all calculations;
Providing an executive summary identifying the methodology employed, major assumptions, conclusions, and any other recommendations for changes in recordkeeping and investment policies;
Assisting as necessary in the event of an Internal Revenue Service inquiry; and,
Consulting with issue staff, as necessary, regarding arbitrage related matters.

GOVERNMENTAL AUDITING EXPERIENCE

Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL has been practicing public accounting in Florida for 69 years. Our success over the years has been the result of a strong commitment to providing personalized quality service to our clients.
The current members of our firm have performed audits of over 1,100 community development districts, and over 2,100 audits of municipalities, counties and other governmental entities such as the City of Fort Pierce and St. Lucie County.

Our firm provides a variety of accounting, auditing, tax litigation support, and consulting services. Some of the professional accounting, auditing and management consulting services that are provided by our firm are listed below:

Performance of annual financial and compliance audits, including Single Audits of state and federal financial assistance programs, under the provisions of the Single Audit Act,
Subpart F of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), with minimal disruptions to your operations;
Performance of special compliance audits to ascertain compliance with the applicable local, state and federal laws and regulations;
Issuance of comfort letters and consent letters in conjunction with the issuance of tax- exempt debt obligations, including compiling financial data and interim period financial statement reviews;
Calculation of estimated and actual federal arbitrage rebates;
Assistance in compiling historical financial data for first-time and supplemental submissions for GFOA Certificate of Achievement for Excellence in Financial Reporting;
Preparation of indirect cost allocation systems in accordance with Federal and State regulatory requirements;
Providing human resource and employee benefit consulting;
Performance of automation feasibility studies and disaster recovery plans;
Performance feasibility studies concerning major fixed asset acquisitions and utility plant expansion plans (including electric, water, pollution control, and sanitation utilities); and
Assistance in litigation, including testimony in civil and criminal court.
Assist clients who utilize QuickBooks software with their software needs. Our Certified QuickBooks Advisor has undergone extensive training through QuickBooks and has
passed several exams to attain this Certification.
Continuing Professional Education

All members of the governmental audit staff of our firm, and audit team members assigned to this engagement, are in compliance with the Continuing Professional Education (CPE) requirements set forth in Government Auditing Standards issued by the Comptroller General of the United States. In addition, our firm is in compliance with the applicable provisions of the Florida Statutes that require CPA’s to have met certain CPE requirements prior to proposing on governmental audit engagements.

The audit team has extensive experience in performing governmental audits and is exposed to intensive and continuing concentration on these types of audits. Due to the total number of governmental audits our team performs, each member of our governmental staff must understand and be able to perform several types of governmental audits. It is our objective to provide each professional employee fifty hours or more of comprehensive continuing professional education each year. This is accomplished through attending seminars throughout Florida and is reinforced through in-house training.
Our firm has made a steadfast commitment to professional education. Our active attendance and participation in continuing professional education is a major part of our objective to obtain the most recent knowledge on issues which are of importance to our clients. We are growing on the reputation for work that our firm is providing today.
Quality Control Program

Quality control requires continuing commitment to professional excellence. Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL is formally dedicated to that commitment.

To ensure maintaining the standards of working excellence required by our firm, we joined the Private Companies Practice Section (PCPS) of the American Institute of Certified Public Accountants (AICPA). To be a participating member firm of this practice section, a firm must obtain an independent Peer Review of its quality control policies and procedures to ascertain the firm’s compliance with existing auditing standards on the applicable engagements.
The scope of the Peer Review is comprehensive in that it specifically reviews the following quality control policies and procedures of the participating firm:
Professional, economic, and administrative independence;
Assignment of professional personnel to engagements;
Consultation on technical matters;
Supervision of engagement personnel;
Hiring and employment of personnel;
Professional development;
Advancement;
Acceptance and continuation of clients; and,
Inspection and review system.
We believe that our commitment to the program is rewarding not only to our firm, but primarily to our clients.
The external independent Peer Review of the elements of our quality control policies and procedures performed by an independent certified public accountant, approved by the PCPS of the AICPA, provides you with the assurance that we continue to conform to standards of the profession in the conduct of our accounting and auditing practice.

Our firm is also a member of Governmental Audit Quality Center (GAQC), a voluntary membership center for CPA firms that perform governmental audits. This center promotes the quality of governmental audits.
Our firm has completed successive Peer Reviews. These reviews included a representative sample of our firm’s local governmental auditing engagements. As a result of these reviews, our firm obtained an unqualified opinion on our quality control program and work procedures. On page 31 is a copy of our most recent Peer Review report. It should be noted that we received a pass rating.

Our firm has never had any disciplinary actions by state regulatory bodies or professional organizations.
As our firm performs approximately one hundred audits each year that are reviewed by federal, state or local entities, we are constantly dealing with questions from these entities about our audits. We are pleased to say that any questions that have been raised were minor issues and were easily resolved without re-issuing any reports.

Certificate of Achievement for Excellence in Financial Reporting (CAFR)

We are proud and honored to have been involved with the City of Fort Pierce and the Fort Pierce Utilities Authority when they received their first Certificates of Achievement for Excellence in Financial Reporting for the fiscal years ended September 30, 1988 and 1994, respectively. We were also instrumental in the City of Stuart receiving the award, in our first year of performing their audit, for the year ended September 30, 1999.
We also assisted St. Lucie County, Florida for the year ended September 30, 2003, in preparing their first Comprehensive Annual Financial Report, and St. Lucie County has received their Certificate of Achievement for Excellence in Financial Reporting every year since.

As continued commitment to insuring that we are providing the highest level of experience, we have had at least one employee of our firm serve on the GFOA – Special Review Committee since the mid-1980s. This committee is made up of selective Certified Public Accountants throughout the United States who have demonstrated their high level of knowledge and expertise in governmental accounting. Each committee member attends a special review meeting at the Annual GFOA Conference. At this meeting, the committee reports on the Certificate of Achievement Program’s most recent results, future goals, and common reporting deficiencies.

We feel that our previous experience in assisting the City of Fort Pierce, the Fort Pierce Utilities Authority and St. Lucie County obtain their first CAFRs, and the City of Stuart in continuing to receive a CAFR and our firm’s continued involvement with the GFOA, and the CAFR review committee make us a valued asset for any client in the field of governmental financial reporting.

References

Terracina Community Development	Gateway Community Development District		District
Jeff Walker, Special District Services	Stephen Bloom, Severn Trent Management
(561) 630-4922	(954) 753-5841

The Reserve Community Development District	Clearwater Cay Community Development
District
Darrin Mossing, Governmental Management	Cal Teague, Premier District Management Services LLC
(407) 841-5524	(239) 690-7100 ext 101

In addition to the above, we have the following additional governmental audit experience: Community Development Districts
Aberdeen Community Development	Beacon Lakes Community District		Development District

Alta Lakes Community Development	Beaumont Community Development District		District

Amelia Concourse Community	Bella Collina Community Development
Development District	District

Amelia Walk Communnity	Bonnet Creek Community
Development District	Development District

Aqua One Community Development	Buckeye Park Community District		Development District

Arborwood Community Development	Candler Hills East Community District		Development District

Arlington Ridge Community	Cedar Hammock Community
Development District	Development District

Bartram Springs Community	Central Lake Community
Development District	Development District

Baytree Community Development	Channing Park Community
District	Development District

Cheval West Community	Evergreen Community Development
Development District	District

Coconut Cay Community	Forest Brooke Community Development District		Development District

Colonial Country Club Community	Gateway Services Community
Development District	Development District

Connerton West Community	Gramercy Farms Community
Development District	Development District

Copperstone Community	Greenway Improvement District Development District

Creekside @ Twin Creeks Community	Greyhawk Landing Community Development District		Development District

Deer Run Community Development	Griffin Lakes Community Development District		District

Dowden West Community	Habitat Community Development
Development District	District

DP1 Community Development	Harbor Bay Community Development
District	District

Eagle Point Community Development	Harbourage at Braden River District		Community Development District

East Nassau Stewardship District	Harmony Community Development
District
Eastlake Oaks Community
Development District	Harmony West Community Development District
Easton Park Community Development
District	Harrison Ranch Community
Development District
Estancia @ Wiregrass Community
Development District	Hawkstone Community Development District

Heritage Harbor Community	Madeira Community Development
Development District	District

Heritage Isles Community	Marhsall Creek Community
Development District	Development District

Heritage Lake Park Community	Meadow Pointe IV Community
Development District	Development District

Heritage Landing Community	Meadow View at Twin Creek
Development District	Community Development District

Heritage Palms Community	Mediterra North Community
Development District	Development District

Heron Isles Community	Midtown Miami Community
Development District	Development District

Heron Isles Community Development	Mira Lago West Community District		Development District

Highland Meadows II Community	Montecito Community
Development District	Development District

Julington Creek Community	Narcoossee Community
Development District	Development District

Laguna Lakes Community	Naturewalk Community
Development District	Development District

Lake Bernadette Community	New Port Tampa Bay Community
Development District	Development District

Lakeside Plantation Community	Overoaks Community Development
Development District	District

Landings at Miami Community	Panther Trace II Community
Development District	Development District

Legends Bay Community	Paseo Community Development
Development District	District

Lexington Oaks Community	Pine Ridge Plantation Community
Development District	Development District

Live Oak No. 2 Community	Piney Z Community Development
Development District	District

Poinciana Community	Sampson Creek Community
Development District	Development District

Poinciana West Community	San Simeon Community
Development District	Development District

Port of the Islands Community	Six Mile Creek Community
Development District	Development District

Portofino Isles Community	South Village Community
Development District	Development District

Quarry Community Development	Southern Hills Plantation I
District	Community Development District

Renaissance Commons Community	Southern Hills Plantation III Development District		Community Development District

Reserve Community	South Fork Community
Development District	Development District

Reserve #2 Community	St. John's Forest Community
Development District	Development District

River Glen Community	Stoneybrook South Community
Development District	Development District

River Hall Community	Stoneybrook South at ChampionsGate
Development District	Community Development District

River Place on the St. Lucie	Stoneybrook West Community
Community Development District	Development District

Rivers Edge Community	Tern Bay Community
Development District	Development District

Riverwood Community	Terracina Community Development
Development District	District

Riverwood Estates Community	Tison's Landing Community
Development District	Development District

Rolling Hills Community	TPOST Community Development
Development District	District

Rolling Oaks Community Development District

Triple Creek Community	Vizcaya in Kendall
Development District	Development District

TSR Community Development	Waterset North Community
District	Development District

Turnbull Creek Community	Westside Community Development
Development District	District

Twin Creeks North Community	WildBlue Community Development
Development District	District

Urban Orlando Community	Willow Creek Community
Development District	Development District

Verano #2 Community	Willow Hammock Community
Development District	Development District

Viera East Community	Winston Trails Community
Development District	Development District

VillaMar Community	Zephyr Ridge Community
Development District	Development District

Other Governmental Organizations

City of Westlake

Florida Inland Navigation District Fort Pierce Farms Water Control
District

Indian River Regional Crime Laboratory, District 19, Florida
Viera Stewardship District

Office of the Medical Examiner, District 19
Rupert J. Smith Law Library of St. Lucie County
St. Lucie Education Foundation Seminole Improvement District Troup Indiantown Water
Control District

Current or Recent Single Audits,

St. Lucie County, Florida Early Learning Coalition, Inc.
Gateway Services Community Development District.
Members of our audit team have acquired extensive experience from performing or participating in over 1,800 audits of governments, independent special taxing districts, school boards, and other agencies that receive public money and utilize fund accounting.

Much of our firm’s auditing experience is with compliance auditing, which is required for publicly financed agencies. In this type of audit, we do a financial examination and also confirm compliance with various statutory and regulatory guidelines.

Following is a summary of our other experience, including Auditor General experience, as it pertains to other governmental and fund accounting audits.

Counties
(Includes elected constitutional officers, utilities and dependent taxing districts)

Indian River Martin Okeechobee Palm Beach
Municipalities

City of Port St. Lucie City of Vero Beach Town of Orchid

Special Districts

Bannon Lakes Community Development District Boggy Creek Community Development District Capron Trail Community Development District Celebration Pointe Community Development District Coquina Water Control District
Diamond Hill Community Development District Dovera Community Development District
Durbin Crossing Community Development District Golden Lakes Community Development District Lakewood Ranch Community Development District Martin Soil and Water Conservation District Meadow Pointe III Community Development District Myrtle Creek Community Development District
St. Lucie County – Fort Pierce Fire District The Crossings at Fleming Island
St. Lucie West Services District
Indian River County Mosquito Control District St. John’s Water Control District
Westchase and Westchase East Community Development Districts Pier Park Community Development District
Verandahs Community Development District Magnolia Park Community Development District

Schools and Colleges

Federal Student Aid Programs – Indian River Community College Indian River Community College
Okeechobee County District School Board St. Lucie County District School Board
State and County Agencies

Central Florida Foreign-Trade Zone, Inc. (a nonprofit organization affiliated with the St. Lucie County Board of County Commissioners)
Florida School for Boys at Okeechobee
Indian River Community College Crime Laboratory Indian River Correctional Institution

FEE SCHEDULE

We propose the fee for our audit services described below to be $3,550 for the years ended September 30, 2023, 2024 and 2025. The fee is contingent upon the financial records and accounting systems of Acree Community Development District being “audit ready” and the financial activity for the District is not materially increased. If we discover that additional preparation work or subsidiary schedules are needed, we will consult with your authorized representative. We can assist with this additional work at our standard rates should you desire.

SCOPE OF WORK TO BE PERFORMED
If selected as the District's auditors, we will perform a financial and compliance audit in accordance with Section 11.45, Florida Statutes, in order to express an opinion on an annual basis on the financial statements of Acree Community Development District as of September 30, 2023, 2024, and 2025. The audits will be performed to the extent necessary to express an opinion on the fairness in all material respects with which the financial statements present the financial position, results of operations and changes in financial position in conformity with generally accepted accounting principles and to determine whether, for selected transactions, operations are properly conducted in accordance with legal and regulatory requirements. Reportable conditions that are also material weaknesses shall be identified as such in the Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters. Other (non-reportable) conditions discovered during the course of the audit will be reported in a separate letter to management, which will be referred to in the Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters.
Our audit will be performed in accordance with standards for financial and compliance audits contained in Government Auditing Standards, as well as in compliance with rules and regulations of audits of special districts as set forth by the State Auditor General in Chapter 10.550, Local Governmental Entity Audits, and other relevant federal, state and county orders, statutes, ordinances, charter, resolutions, bond covenants, Administrative Code and procedures, or rules and regulations which may pertain to the work required in the engagement.
The primary purpose of our audit will be to express an opinion on the financial statements discussed above. It should be noted that such audits are subject to the inherent risk that errors or irregularities may not be detected. However, if conditions are discovered which lead to the belief that material errors, defalcations or other irregularities may exist or if other circumstances are encountered that require extended services, we will promptly notify the appropriate individual.

J. W. Gaines, CPA, CITP
Director – 45 years

Education
Stetson University, B.B.A. – Accounting
Registrations
Certified Public Accountant – State of Florida, State Board of Accountancy
Certified Information Technology Professional (CITP) – American Institute of Certified Public Accountants

Professional Affiliations/Community Service
Member of the American and Florida Institutes of Certified Public Accountants
Affiliate member Government Finance Officers Association
Past President, Vice President-Campaign Chairman, Vice President and Board Member of United Way of St. Lucie County, 1989 - 1994
Past President, President Elect, Secretary and Treasurer of the Treasure Coast Chapter of the Florida Institute of Certified Public Accountants, 1988 - 1991
Past President of Ft. Pierce Kiwanis Club, 1994 - 95, Member/Board Member since 1982
Past President, Vice President and Treasurer of St. Lucie County Chapter of the American Cancer Society, 1980 -1986
Member of the St. Lucie County Chamber of Commerce, Member Board of Directors, Treasurer, September 2002 - 2006, Chairman Elect 2007, Chairman 2008, Past Chairman
2009
Member Lawnwood Regional Medical Center Board of Trustees, 2000 – Present, Chairman 2013 - Present
Member of St. Lucie County Citizens Budget Committee, 2001 – 2002
Member of Ft. Pierce Citizens Budget Advisory Committee, 2010 – 2011
Member of Ft. Pierce Civil Service Appeals Board, 2013 - Present
Professional Experience
Miles Grant Development/Country Club – Stuart, Florida, July 1975 – October 1976
State Auditor General’s Office – Public Accounts Auditor – November 1976 through September 1979
Director - Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants PL, responsible for numerous government and nonprofit audits.
Over 40 years experience in all phases of public accounting and auditing experience, with a concentration in financial and compliance audits. Mr. Gaines has been involved in all phases of the audits listed on the preceding pages.

J. W. Gaines, CPA, CITP (Continued)
Director

Continuing Professional Education
Has participated in numerous continuing professional education courses provided by nationally recognized sponsors over the last two years to keep abreast of the latest developments in accounting and auditing such as:
Governmental Accounting Report and Audit Update Analytical Procedures, FICPA
Annual Update for Accountants and Auditors Single Audit Sampling and Other Considerations

David S. McGuire, CPA, CITP
Director – 31 years experience

Education
University of Central Florida, B.A. – Accounting
Barry University – Master of Professional Accountancy
Registrations
Certified Public Accountant – State of Florida, State Board of Accountancy
Certified Information Technology Professional (CITP) – American Institute of Certified Public Accountants
Certified Not-For-Profit Core Concepts 2018
Professional Affiliations/Community Service
Member of the American and Florida Institutes of Certified Public Accountants
Associate Member, Florida Government Finance Office Associates
Assistant Coach – St. Lucie County Youth Football Organization (1994 – 2005)
Assistant Coach – Greater Port St. Lucie Football League, Inc. (2006 – 2010)
Board Member – Greater Port St. Lucie Football League, Inc. (2011 – 2017)
Treasurer, AIDS Research and Treatment Center of the Treasure Coast, Inc. (2000 – 2003)
Board Member/Treasurer, North Treasure Coast Chapter, American Red Cross (2004 – 2010)
Member/Board Member of Port St. Lucie Kiwanis (1994 – 2001)
President (2014/15) of Sunrise Kiwanis of Fort Pierce (2004 – 2017)
St. Lucie District School Board Superintendent Search Committee (2013 – present)
Board Member – Phrozen Pharoes (2019-2021)
Professional Experience
Twenty-eight years public accounting experience with an emphasis on nonprofit and governmental organizations.
Audit Manager in-charge on a variety of audit and review engagements within several industries, including the following government and nonprofit organizations:
St. Lucie County, Florida
19th Circuit Office of Medical Examiner Troup Indiantown Water Control District
Exchange Club Center for the Prevention of Child Abuse, Inc. Healthy Kids of St. Lucie County
Mustard Seed Ministries of Ft. Pierce, Inc. Reaching Our Community Kids, Inc.
Reaching Our Community Kids - South
St. Lucie County Education Foundation, Inc. Treasure Coast Food Bank, Inc.
North Springs Improvement District
Four years of service in the United States Air Force in computer operations, with a top secret (SCI/SBI) security clearance.

David S. McGuire, CPA, CITP (Continued)
Director

Continuing Professional Education
Mr. McGuire has attended numerous continuing professional education courses and seminars taught by nationally recognized sponsors in the accounting auditing and single audit compliance areas. He has attended courses over the last two years in those areas as
follows:
Not-for-Profit Auditing Financial Results and Compliance Requirements Update: Government Accounting Reporting and Auditing
Annual Update for Accountants and Auditors

Matthew Gonano, CPA
Director – 14 years total experience

Education
University of North Florida, B.B.A. – Accounting
University of Alicante, Spain – International Business
Florida Atlantic University – Masters of Accounting
Professional Affiliations/Community Service
American Institute of Certified Public Accountants
Florida Institute of Certified Public Accountants
Professional Experience

Senior Accountant with Berger, Toombs, Elam, Gaines, & Frank providing professional services to nonprofit and governmental entities.
Performed audits of nonprofit and governmental organizations in accordance with Governmental Accounting Auditing Standards (GAAS)
Performed Single Audits of nonprofit organizations in accordance with OMB Circular A-133, Audits of State, Local Governments, and Non-Profit Organizations.

Continuing Professional Education
Mr. Gonano has participated in numerous continuing professional education courses.

David F. Haughton, CPA
Accounting and Audit Manager – 34 years

Education
Stetson University, B.B.A. – Accounting
Registrations
Certified Public Accountant – State of Florida, State Board of Accountancy
Professional Affiliations/Community Service
Member of the American and Florida Institutes of Certified Public Accountants
Former Member of Florida Institute of Certified Public Accountants Committee on State and Local Government
Affiliate Member Government Finance Officers Association (GFOA) for over 10 years
Affiliate Member Florida Government Finance Officers Association (FGFOA) for over 10 years
Technical Review – 1997 FICPA Course on State and Local Governments in Florida
Board of Directors – Kiwanis of Ft. Pierce, Treasurer – 1994-1999; Vice President – 1999- 2001

Professional Experience
Twenty-seven years public accounting experience with an emphasis on governmental and nonprofit organizations.
State Auditor General’s Office – West Palm Beach, Staff Auditor, June 1985 to September 1985
Accounting and Audit Manager of Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants PL, responsible for audit and accounting services including governmental and not-for-profit audits.
Over 20 years of public accounting and governmental experience, specializing in governmental and nonprofit organizations with concentration in special districts, including Community Development Districts which provide services including water and sewer utilities.
Governmental and non-profit entities served include the following:

Counties:
St. Lucie County

Municipalities: City of Fort Pierce City of Stuart

David F. Haughton, CPA (Continued)
Accounting and Audit Manager

Professional Experience (Continued) Special Districts:
Bluewaters Community Development District
Country Club of Mount Dora Community Development District Fiddler’s Creek Community Development District #1 and #2 Indigo Community Development District
North Springs Improvement District
Renaissance Commons Community Development District St. Lucie West Services District
Stoneybrook Community Development District Summerville Community Development District Terracina Community Development District Thousand Oaks Community Development District Tree Island Estates Community Development District Valencia Acres Community Development District

Non-Profits:
The Dunbar Center, Inc.
Hibiscus Children’s Foundation, Inc. Hope Rural School, Inc.
Maritime and Yachting Museum of Florida, Inc. Tykes and Teens, Inc.
United Way of Martin County, Inc.
Workforce Development Board of the Treasure Coast, Inc.
While with the Auditor General’s Office he was on the staff for the state audits of the Martin County School District and Okeechobee County School District.
During 1997 he performed a technical review of the Florida Institute of Certified Public Accountants state CPE course on Audits of State and Local Governments in Florida. His
comments were well received by the author and were utilized in future updates to the course.
Continuing Professional Education
During the past several years, he has participated in numerous professional development training programs sponsored by the AICPA and FICPA, including state conferences on special districts and governmental auditing in Florida. He averages in excess of 100 hours
bi-annually of advanced training which exceeds the 80 hours required in accordance with the continuing professional education requirements of the Florida State Board of accountancy and the AICPA Private Companies Practice Section. He has over 75 hours of governmental CPE credit within the past two years.

Paul Daly
Staff Accountant – 12 years

Education
Florida Atlantic University, B.S. – Accounting
Professional Experience
Staff Accountant with Berger, Toombs, Elam, Gaines, & Frank providing professional services to nonprofit and governmental entities.

Continuing Professional Education
Working to attain the requirements to take the Certified Public Accounting (CPA) exam.

Melissa Marlin, CPA
Senior Staff Accountant – 11 years

Education
Indian River State College, A.A. – Accounting
Florida Atlantic University, B.B.A. – Accounting
Professional Experience
Staff accountant with Berger, Toombs, Elam, Gaines, & Frank providing professional services to nonprofit and governmental entities.

Continuing Professional Education
Mrs. Marlin participates in numerous continuing professional education courses provided by nationally recognized sponsors to keep abreast of the latest developments.

Bryan Snyder
Staff Accountant – 10 years

Education
Florida Atlantic University, B.B.A. – Accounting
Professional Experience
Accountant beginning his professional auditing career with Berger, Toombs, Elam, Gaines, & Frank.
Mr. Snyder is gaining experience auditing governmental & nonprofit entities.
Continuing Professional Education
Mr. Snyder participates in numerous continuing education courses and plans on working to acquire his CPA certificate.
Mr. Snyder is currently studying to pass the CPA exam.

Maritza Stonebraker, CPA
Senior Accountant – 9 years

Education
Indian River State College, B.S. – Accounting
Professional Experience
Staff Accountant beginning her professional auditing career with Berger, Toombs, Elam, Gaines, & Frank.

Continuing Professional Education
Mrs. Stonebraker participates in numerous continuing professional education courses provided by nationally recognized sponsors to keep abreast of the latest developments.

Jonathan Herman, CPA
Senior Staff Accountant – 11 years

Education
University of Central Florida, B.S. – Accounting
Florida Atlantic University, MACC
Professional Experience
Accounting graduate with nine years experience with Berger, Toombs, Elam, Gaines, & Frank providing professional services to nonprofit and governmental entities.

Continuing Professional Education
Mr. Herman participates in numerous continuing professional education courses provided by nationally recognized sponsors to keep abreast of the latest developments.

Tifanee Terrell, CPA
Staff Accountant – 4 years

Education
Florida Atlantic University, M.A.C.C. – Accounting
Professional Experience
Staff Accountant with Berger, Toombs, Elam, Gaines, & Frank providing professional services to nonprofit and governmental entities.

Continuing Professional Education
Ms. Terrell participates in numerous continuing professional education courses provided by nationally recognized sponsors to keep abreast of the latest developments.
Ms. Terrell is currently studying to pass the CPA exam.

Dylan Dixon
Staff Accountant – 3 years

Education
Indian River State College, B.S. – Accounting
Professional Experience
Staff Accountant with Berger, Toombs, Elam, Gaines, & Frank providing professional services to nonprofit and governmental entities.

Continuing Professional Education
Mr. Dixon participates in numerous continuing professional education courses provided by nationally recognized sponsors to keep abreast of the latest developments.

Brennen Moore
Staff Accountant – 1 year

Education
Indian River State College, B.S. – Accounting
Professional Experience
Staff Accountant with Berger, Toombs, Elam, Gaines, & Frank providing professional services to nonprofit and governmental entities.

Continuing Professional Education
Mr. Moore participates in numerous continuing professional education courses provided by nationally recognized sponsors to keep abreast of the latest developments.

Jordan Wood
Staff Accountant – 1 year

Education
Indian River State College, A.A. – Accounting
Professional Experience
Staff Accountant with Berger, Toombs, Elam, Gaines, & Frank providing professional services to nonprofit and governmental entities.

Continuing Professional Education
Ms. Wood is currently enrolled at Indian River State College to complete her bachelor’s degree.
Ms. Wood participates in numerous continuing professional education courses provided by nationally recognized sponsors to keep abreast of the latest developments.
Ms. Wood is currently working towards completing an additional 30 hours of education to qualify to sit for CPA exam.

Katie Gifford
Staff Accountant – 1 year

Education
Indian River State College, B.S. – Accounting
Professional Experience
Staff Accountant with Berger, Toombs, Elam, Gaines, & Frank providing professional services to nonprofit and governmental entities.

Continuing Professional Education
Ms. Gifford participates in numerous continuing professional education courses provided by nationally recognized sponsors to keep abreast of the latest developments.

Rayna Zicari
Staff Accountant – 1 year

Education
Stetson University, B.B.A. – Accounting
Professional Experience
Staff Accountant with Berger, Toombs, Elam, Gaines, & Frank providing professional services to nonprofit and governmental entities.

Continuing Professional Education
Ms. Zicari participates in numerous continuing professional education courses provided by nationally recognized sponsors to keep abreast of the latest developments.
Ms. Zicari is currently working towards completing an additional 30 hours of education to qualify to sit for CPA exam.

ACREE COMMUNITY DEVELOPMENT DISTRICT REQUEST FOR PROPOSALS
District Auditing Services for Fiscal Year 2023
City of Jacksonville, Florida
INSTRUCTIONS TO PROPOSERS

SECTION 1. An electronic copy of the proposal must be received no later than Friday, January 31, 2025, 12:00 p.m. at the e-mail address of the District Recording Secretary Sarah Sweeting, ssweeting@gmsnf.com.

SECTION 2. FAMILIARITY WITH THE LAW. By submitting a proposal, the Proposer is assumed to be familiar with all federal, state, and local laws, ordinances, rules and regulations that in any manner affect the work. Ignorance on the part of the Proposer will in no way relieve it from responsibility to perform the work covered by the proposal in compliance with all such laws, ordinances and regulations.
SECTION 3. QUALIFICATIONS OF PROPOSER. The contract, if awarded, will only be awarded to a responsible Proposer who is qualified by experience and licensing to do the work specified herein. The Proposer shall submit with its proposal satisfactory evidence of experience in similar work and show that it is fully prepared to complete the work to the satisfaction of the District.

SECTION 4. SUBMISSION OF ONLY ONE PROPOSAL. Proposers shall be
disqualified and their proposals rejected if the District has reason to believe that collusion may exist among the Proposers, the Proposer has defaulted on any previous contract or is in arrears on any previous or existing contract, or for failure to demonstrate proper licensure and business organization.
SECTION 5. SUBMISSION OF PROPOSAL. Submit eight (8) copies of the Proposal Documents, and other requested attachments at the time and place indicated herein, which shall be enclosed in an opaque sealed envelope, marked with the title “Auditing Services – Acree Community Development District” on the face of it.
SECTION 6. MODIFICATION AND WITHDRAWAL. Proposals may be modified or withdrawn by an appropriate document duly executed and delivered to the place where proposals are to be submitted at any time prior to the time and date the proposals are due. No proposal may be withdrawn after opening for a period of ninety (90) days.

SECTION 7. PROPOSAL DOCUMENTS. The proposal documents shall consist of the notice announcing the request for proposals, these instructions, the Evaluation Criteria Sheet and a proposal with all required documentation pursuant to Section 12 of these instructions (the “Proposal Documents”).
SECTION 8. PROPOSAL. In making its proposal, each Proposer represents that it has read and understands the Proposal Documents and that the proposal is made in accordance therewith.

SECTION 9. BASIS OF AWARD/RIGHT TO REJECT. The District reserves the right to reject any and all proposals, make modifications to the work, and waive any informalities or irregularities in proposals as it is deemed in the best interests of the District.
SECTION 10. CONTRACT AWARD. Within fourteen (14) days of receipt of the Notice of Award from the District, the Proposer shall enter into and execute a Contract (engagement letter) with the District.

SECTION 11. LIMITATION OF LIABILITY. Nothing herein shall be construed as or constitute a waiver of the District’s limited waiver of liability contained in Section 768.28, Florida Statutes, or any other statute or law.
SECTION 12. MISCELLANEOUS. All proposals shall include the following information in addition to any other requirements of the proposal documents.

List the position or title of all personnel to perform work on the District audit. Include resumes for each person listed; list years of experience in present position for each party listed and years of related experience.
Describe proposed staffing levels, including resumes with applicable certifications.
Three references from projects of similar size and scope. The Proposer should include information relating to the work it conducted for each reference as well as a name, address and phone number of a contact person.

The lump sum cost of the provision of the services under the proposal for the District’s first audit for which there are no special assessment bonds, plus the lump sum cost of two (2) annual renewals, which renewals shall include services related to the District’s anticipated issuance of special assessment bonds.

SECTION 13. PROTESTS. In accordance with the District’s Rules of Procedure, any protest regarding the Proposal Documents, must be filed in writing, at the offices of the District Manager, within seventy-two (72) calendar hours (excluding Saturday, Sunday, and state holidays) after the receipt of the Proposal Documents. The formal protest setting forth with particularity the facts and law upon which the protest is based shall be filed within seven (7) calendar days (including Saturday, Sunday, and state holidays) after the initial notice of protest was filed. Failure to timely file a notice of protest or failure to timely file a formal written protest shall constitute a waiver of any right to object or protest with respect to the aforesaid Proposal Documents.
SECTION 14. EVALUATION OF PROPOSALS. The criteria to be used in the evaluation of proposals are presented in the Evaluation Criteria Sheet, contained within the Proposal Documents.

ACREE COMMUNITY DEVELOPMENT DISTRICT AUDITOR SELECTION EVALUATION CRITERIA

Ability of Personnel.	(20 Points)

(E.g., geographic location of the firm’s headquarters or permanent office in relation to the project; capabilities and experience of key personnel; present ability to manage this project; evaluation of existing work load; proposed staffing levels, etc.)

Proposer’s Experience.	(20 Points)

(E.g. past record and experience of the Proposer in similar projects; volume of work previously performed by the firm; past performance for other or current Community Development District(s) in other contracts; character, integrity, reputation of Proposer, etc.)
Understanding of Scope of Work.	(20 Points)

Extent to which the proposal demonstrates an understanding of the District’s needs for the services requested.
Ability to Furnish the Required Services.	(20 Points)

Extent to which the proposal demonstrates the adequacy of Proposer’s financial resources and stability as a business entity necessary to complete the services required.
Price.	(20 Points)***

Points will be awarded based upon the lowest total proposal for rendering the services and the reasonableness of the proposal.
Total	(100 Points)

***Alternatively, the Board may choose to evaluate firms without considering price, in which case the remaining categories would be assigned 25 points each.

Proposal to Provide Financial Auditing Services:
ACREE
COMMUNITY DEVELOPMENT DISTRICT

Proposal Due: January 31, 2025 12:00PM

Submitted to:
Acree
Community Development District c/o District Manager
475 West Town Place, Suite 114 St. Augustine, Florida 32092

Submitted by:
Antonio J. Grau, Partner Grau & Associates
1001 Yamato Road, Suite 301 Boca Raton, Florida 33431 Tel	(561) 994-9299
(800) 229-4728
Fax	(561) 994-5823
tgrau@graucpa.com www.graucpa.com

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

January 31, 2025

Acree Community Development District c/o District Manager
475 West Town Place, Suite 114 St. Augustine, Florida 32092

Re:	Request for Proposal for Professional Auditing Services for the fiscal year ended September 30, 2023, with an option for two (2) additional annual renewals.

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

Government audits are at the core of our practice: 95% of our work is performing audits for local governments and of that 98% are for special districts. With our significant experience, we are able to increase efficiency, to provide immediate and continued savings, and to minimize disturbances to your operations.

Why Grau & Associates:

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

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

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

Maintaining an Impeccable Reputation
We have never been involved in any litigation, proceeding or received any disciplinary action. Additionally, we have never been charged with, or convicted of, a public entity crime of any sort. We are financially stable and have never been involved in any bankruptcy proceedings.

Complying With Standards
Our audit will follow the Auditing Standards of the AICPA, Generally Accepted Government Auditing Standards, issued by the Comptroller General of the United States, and the Rules of the Auditor General of the State of Florida, and any other applicable federal, state and local regulations. We will deliver our reports in accordance with your requirements.

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

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

Very truly yours, Grau & Associates
Antonio J. Grau

Firm Qualifications

Grau’s Focus and Experience

Our Team

3

Services Provided

Partners

11
Professional Staff

2
Administrative Professionals

9/15
Employees are CPAS

Year founded

Properly registered and licensed professional corporation by the state of FLORIDA

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

9
Professional Groups

the Florida Institute of Certified Public Accountants

See next page for report and certificate

⇒ External quality review program:
consistently receives a pass
⇒ Internal: ongoing monitoring to
maintain quality

AICPA | FICPA | GFOA | FASD | FGFOA

Firm & Staff Experience

GRAU AND ASSOCIATES COMMUNITY
DEVELOPMENT DISTRICT EXPERIENCE BY MANAGEMENT COMPANY

OTHER
19

PFM
12

WRATHELL
30

GMS
78

INFRAMARK
38

SDS
60

RIZZETTA
47

MERITUS
23

Profile Briefs:
Antonio J GRAU, CPA (Partner)
Years Performing Audits: 35+
CPE (last 2 years): Government Accounting, Auditing: 24 hours; Accounting, Auditing and Other: 56 hours
Professional Memberships: AICPA, FICPA, FGFOA, GFOA

David Caplivski, CPA (Partner)
Years Performing Audits: 13+
CPE (last 2 years): Government Accounting, Auditing: 24 hours; Accounting, Auditing and Other: 64 hours
Professional Memberships: AICPA, FICPA, FGFOA, FASD

“Here at Grau & Associates, staying up to date with the current technological landscape is one of our top priorities. Not only does it provide a more positive experience for our clients, but it also allows us to perform a more effective and efficient audit. With the every changing technology available and utilized by our clients, we are constantly innovating our audit process.”
-	Tony Grau
“Quality audits and exceptional client service are at the heart of every decision we make. Our clients trust us to deliver a quality audit, adhering to high standards and assisting them with improvements for their organization.”
- David Caplivski

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

YOUR ENGAGEMENT TEAM

Grau’s client-specific engagement team is meticulously organized in order to meet the unique needs of each client. Constant communication within our solution team allows for continuity of staff and audit team. The Certified Information Technology Professional (CITP) Partner will bring a unique blend of IT expertise and understanding of accounting principles to the financial statement audit of the District.

Engagement
Partner

CITP Partner

Your
Successful Audit

Audit
Manager

Audit Senior

The Engagement Partner will participate extensively during the various stages of the engagement and has direct responsibility for engagement policy, direction, supervision, quality control, security, confidentiality of information of the engagement and communication with client personnel. The engagement partner will also be involved directing the development of the overall audit approach and plan; performing an overriding review of work papers and ascertain client satisfaction.

Antonio ‘Tony ‘ J. Grau, CPA
Partner
Contact: tgrau@graucpa.com | (561) 939-6672
Experience
For over 30 years, Tony has been providing audit, accounting and consulting services to the firm’s governmental, non-profit, employee benefit, overhead and arbitrage clients. He provides guidance to clients regarding complex accounting issues, internal controls and operations.
As a member of the Government Finance Officers Association Special Review Committee, Tony participated in the review process for awarding the GFOA Certificate of Achievement in Financial Reporting. Tony was also the review team leader for the Quality Review of the Office of Management Audits of School Board of Miami-Dade County. Tony received the AICPA advanced level certificate for governmental single audits.

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

Clients Served (partial list)

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

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

Professional Education (over the last two years)
Course	Hours
Government Accounting and Auditing	24
Accounting, Auditing and Other	56
Total Hours	80 (includes of 4 hours of Ethics CPE)

David Caplivski, CPA/CITP, Partner
Contact : dcaplivski@graucpa.com / 561-939-6676
Experience
Grau & Associates	Partner	2021-Present	
Grau & Associates	Manager	2014-2020	
Grau & Associates	Senior Auditor	2013-2014	
Grau & Associates	Staff Auditor	2010-2013	

Education
Florida Atlantic University (2009) Master of Accounting
Nova Southeastern University (2002) Bachelor of Science
Environmental Studies

Certifications and Certificates
Certified Public Accountant (2011)
AICPA Certified Information Technology Professional (2018) AICPA Accreditation COSO Internal Control Certificate (2022)

Clients Served (partial list)
(>300) Various Special Districts	Hispanic Human Resource Council	
Aid to Victims of Domestic Abuse	Loxahatchee Groves Water Control District	
Boca Raton Airport Authority	Old Plantation Water Control District	
Broward Education Foundation	Pinetree Water Control District	
CareerSource Brevard	San Carlos Park Fire & Rescue Retirement Plan	
CareerSource Central Florida 403 (b) Plan	South Indian River Water Control District	
City of Lauderhill GERS	South Trail Fire Protection & Rescue District	
City of Parkland Police Pension Fund	Town of Haverhill	
City of Sunrise GERS	Town of Hypoluxo	
Coquina Water Control District	Town of Hillsboro Beach	
Central County Water Control District	Town of Lantana	
City of Miami (program specific audits)	Town of Lauderdale By-The–Sea Volunteer Fire Pension	
City of West Park	Town of Pembroke Park	
Coquina Water Control District	Village of Wellington	
East Central Regional Wastewater Treatment Facl.	Village of Golf	
East Naples Fire Control & Rescue District		

Professional Education (over the last two years)
Course	Hours
Government Accounting and Auditing	24
Accounting, Auditing and Other	64
Total Hours	88 (includes 4 hours of Ethics CPE)
Professional Associations
Member, American Institute of Certified Public Accountants Member, Florida Institute of Certified Public Accountants Member, Florida Government Finance Officers Association Member, Florida Association of Special Districts

References

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

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

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

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

Specific Audit Approach

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

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

PHASE I:
Preliminary Planning

PHASE II:
Execution of the Audit Plan

PHASE III:
Completion and Delivery

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

During this phase we will perform the following activities:
» Review the regulatory, statutory and compliance requirements. This will include a review of applicable federal and state statutes, resolutions, bond documents, contracts, and other agreements;
» Read minutes of meetings;
» Review major sources of information such as budgets, organization charts, procedures, manuals, financial systems, and management information systems;
» Obtain an understanding of fraud detection and prevention systems;
» Obtain and document an understanding of internal control, including knowledge about the design of relevant policies, procedures, and records, and whether they have been placed in operation;
» Assess risk and determine what controls we are to rely upon and what tests we are going to perform and perform test of controls;
» Develop audit programs to incorporate the consideration of financial statement assertions, specific audit objectives, and appropriate audit procedures to achieve the specified objectives;
» Discuss and resolve any accounting, auditing and reporting matters which have been identified.

Phase II – Execution of Audit Plan
The audit team will complete a major portion of transaction testing and audit requirements during this phase. The procedures performed during this period will enable us to identify any matter that may impact the completion of our work or require the attention of management. Tasks to be performed in Phase II include, but are not limited to the following:
» Apply analytical procedures to further assist in the determination of the nature, timing, and extent of auditing procedures used to obtain evidential matter for specific account balances or classes of transactions;
» Perform tests of account balances and transactions through sampling, vouching, confirmation and other analytical procedures; and
»  Perform tests of compliance.
Phase III - Completion and Delivery

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

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

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

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

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

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

» Significant audit adjustments;
» Significant deficiencies or material weaknesses;
» Disagreements with management; and
»  Difficulties encountered in performing the audit.

Is the recommendation cost effective?

Is the recommendation the simplest to effectuate in order to correct a problem?

Is the recommendation at the heart of the problem and not just correcting a symptomatic matter?

Is the corrective action taking into account why the deficiency occurred?

Our findings will contain a statement of condition describing the situation and the area that needs strengthening, what should be corrected and why. Our suggestions will withstand the basic tests of corrective action:

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

Communications
We emphasize a continuous, year-round dialogue between the District and our management team. We regularly communicate through personal telephone calls and electronic mail throughout the audit and on a regular basis.

Our clients have the ability to transmit information to us on our secure client portal with the ability to assign different staff with separate log on and viewing capability. This further facilitates efficiency as all assigned users receive electronic mail notification as soon as new information has been posted into the portal.

Cost of Services

Our proposed all-inclusive fees for the financial audit for the fiscal years ended September 30, 2023-2025 are as follows:

  Year Ended September 30,			Fee		
2023	$3,200	
2024	$3,300	
2025	$3,400	
TOTAL (2023-2025)	$9,900	

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

Supplemental Information

 	Governmental Audit	Single Audit	Utility Audit	
Current Client	
Year End	
Boca Raton Airport Authority					9/30	
Captain's Key Dependent District					9/30	
Central Broward Water Control District					9/30	
Collier Mosquito Control District					9/30	
Coquina Water Control District					9/30	
East Central Regional Wastewater Treatment Facility					9/30	
Florida Green Finance Authority					9/30	
Greater Boca Raton Beach and Park District					9/30	
Greater Naples Fire Control and Rescue District					9/30	
Green Corridor P.A.C.E. District					9/30	
Hobe-St. Lucie Conservancy District					9/30	
Indian River Farms Water Control District					9/30	
Indian River Mosquito Control District					9/30	
Indian Trail Improvement District					9/30	
Key Largo Wastewater Treatment District					9/30	
Lake Asbury Municipal Service Benefit District					9/30	
Lake Padgett Estates Independent District					9/30	
Lake Worth Drainage District					9/30	
Lealman Special Fire Control District					9/30	
Loxahatchee Groves Water Control District					9/30	
Old Plantation Water Control District					9/30	
Pal Mar Water Control District					9/30	
Pinellas Park Water Management District					9/30	
Pine Tree Water Control District (Broward)					9/30	
Pinetree Water Control District (Wellington)					9/30	
Port of The Islands Community Improvement District					9/30	
Ranger Drainage District					9/30	
Renaissance Improvement District					9/30	
San Carlos Park Fire Protection and Rescue Service District					9/30	
Sanibel Fire and Rescue District					9/30	
South Central Regional Wastewater Treatment and Disposal Board					9/30	
South Indian River Water Control District					9/30	
South Trail Fire Protection & Rescue District					9/30	
Spring Lake Improvement District					9/30	
St. Lucie West Services District					9/30	
Sunrise Lakes Phase IV Recreation District					9/30	
Sunshine Water Control District					9/30	
Sunny Hills Units 12-15 Dependent District					9/30	
West Villages Improvement District					9/30	
Various Community Development Districts (452)					9/30	
TOTAL	491	5	4	484		

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

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

ARBITRAGE

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

73

Current Arbitrage Calculations

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

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

THIRD ORDER OF BUSINESS

MINUTES OF MEETING ACREE
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Acree Community Development District was held Tuesday, January 14, 2025, at 10:00 a.m. at 1000 Riverside Avenue, Suite 600, Jacksonville, Florida.
Present and constituting a quorum:

George Leone	Chairman
Shannon Acevedo	Vice Chairperson
William English	Supervisor
Matt Allen	Supervisor
Andre Green	Supervisor

Also present:

Daniel Laughlin	District Manager
Wes Haber by phone	District Counsel
Walt Schwartz	Corner Lot
Justin Holmes	Corner Lot
Jeremy Wannamaker	Corner Lot

The following is a summary of the actions taken at the January 14, 2025 regular meeting of the Board of Supervisors of the Acree Community Development District.

FIRST ORDER OF BUSINESS	Roll Call
Mr. Laughlin called the meeting to order at 10:00 a.m. and called the roll. Five Board members were in attendance constituting a quorum.

SECOND ORDER OF BUSINESS	Public Comments (regarding agenda items
below)
Mr. Laughlin stated no members of the public were present.

THIRD ORDER OF BUSINESS	Consideration of Minutes of the December 10,
2024 Meeting
Mr. Laughlin presented the minutes of the December 10, 2024 meeting and asked if there were any questions, comments, or revisions. The Board had no changes to the minutes.

On MOTION by Mr. Leone, seconded by Mr. English, with all in favor, the Minutes of the December 10, 2024 Meeting, were approved 5-0.

FOURTH ORDER OF BUSINESS	Acceptance of Minutes of the December 10,
2024 Audit Committee Meeting
Mr. Laughlin presented the minutes of the December 10, 2024, Audit Committee meeting and asked if there were any questions, comments, or revisions. The Board had no changes to the minutes.

On MOTION by Mr. Leone, seconded by Mr. English, with all in favor, Accepting the Minutes of the December 10, 2024 Audit Committee Meeting, were approved 5-0.

FIFTH ORDER OF BUSINESS	Staff Reports
Attorney
Mr. Haber stated he had nothing further to report.

Engineer
Mr. Laughlin noted the engineer was not on the line.

Manager
Mr. Laughlin had nothing to report.

SIXTH ORDER OF BUSINESS	Supervisor’s Request and Public Comments
Mr. Haber explained what will be on the agenda in the next meeting.

SEVENTH ORDER OF BUSINESS	Consideration of Funding Request No. 10
Mr. Laughlin presented Funding Request No. 10 totaling $4,116.82. He asked if there were any questions, and hearing no questions he asked for a motion to approve.

On MOTION by Mr. English, seconded by Mr. Leone, with all in favor, Funding Request No. 10, was approved 5-0.

EIGHTH ORDER OF BUSINESS	Financial Statements as of November 30, 2024
Mr. Laughlin presented the financial statements as of November 30, 2024. No action is required by the Board.
Ms. Acevedo asked where they are at in the legal process that was discussed at the last meeting. Mr. Laughlin explained they are in the middle of it and it is being processed.

NINTH ORDER OF BUSINESS	Next Scheduled Meeting – February 11, 2025
@ 10:00 a.m.
Mr. Laughlin stated that the next scheduled meeting is February 11, 2025, at 10:00 a.m. at the corner lot office. He noted if not everyone can make it, they will change the date to the 10th.

TENTH ORDER OF BUSINESS	Adjournment
Mr. Laughlin adjourned the meeting.

On MOTION by Mr. Leone, seconded by Mr. English, with all in favor, the meeting was adjourned.

Secretary/Assistant Secretary	Chairman/Vice Chairman

FOURTH ORDER OF BUSINESS

RESOLUTION 2025-06
A RESOLUTION OF THE ACREE COMMUNITY DEVELOPMENT DISTRICT MAKING CERTAIN FINDINGS; ADOPTING A CAPITAL IMPROVEMENT PLAN; PROVIDING AN ESTIMATED COST OF IMPROVEMENTS; ADOPTING AN ASSESSMENT REPORT; EQUALIZING, APPROVING, CONFIRMING AND LEVYING DEBT ASSESSMENTS ON PROPERTY SPECIALLY BENEFITED BY SUCH PROJECTS TO PAY THE COST THEREOF; ADDRESSING THE FINALIZATION OF SPECIAL ASSESSMENTS; ADDRESSING THE PAYMENT OF DEBT ASSESSMENTS AND THE METHOD OF COLLECTION; PROVIDING FOR THE ALLOCATION OF DEBT ASSESSMENTS AND TRUE-UP PAYMENTS; ADDRESSING GOVERNMENT PROPERTY AND TRANSFERS OF PROPERTY TO UNITS OF LOCAL, STATE AND FEDERAL GOVERNMENT; AUTHORIZING AN ASSESSMENT NOTICE; AND PROVIDING FOR SEVERABILITY, CONFLICTS AND AN EFFECTIVE DATE.

WHEREAS, the Acree Community Development District (“District”) is a local unit of special- purpose government established and existing under and pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (“Act”); and

WHEREAS, the District has previously indicated its intention to construct certain types of improvements and to finance such improvements through the issuance of bonds, notes, or other specific financing mechanisms, which bonds, notes or other specific financing mechanisms would be repaid by the imposition of special assessments on benefited property within the District; and
WHEREAS, the District’s Board of Supervisors (“Board”) has noticed and conducted a public hearing pursuant to Chapters 170, 190 and 197, Florida Statutes, relating to the imposition, levy, collection, and enforcement of such assessments, and now desires to adopt a resolution imposing and levying such assessments as set forth herein.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE ACREE COMMUNITY DEVELOPMENT DISTRICT AS FOLLOWS:

AUTHORITY. This Resolution is adopted pursuant to Chapters 170, 190 and 197, Florida Statutes, including without limitation, Section 170.08, Florida Statutes. The recitals stated above are incorporated herein; are adopted by the Board as true and correct statements; and are further declared to be findings made and determined by the Board.
FINDINGS. The Board further finds and determines as follows:

The Capital Improvement Plan
The District is authorized by Chapter 190, Florida Statutes, to finance, fund, plan, establish, acquire, install, equip, operate, extend, construct, or reconstruct stormwater management, roadways, water and sewer systems, recreational amenities, parks and open space, landscaping, entry features, environmental mitigation, and other infrastructure

projects and services necessitated by the development of, and serving lands within, the District; and

On December 10, 2024, and pursuant to Section 170.03, Florida Statutes, among other laws, the Board adopted Resolutions 2025-02 and 2025-03 (collectively the “Declaring Resolution”), and in doing so determined to undertake, install, plan, establish, construct or reconstruct, enlarge or extend, equip, acquire, operate, and/or maintain the infrastructure improvements for the 139.63 acres described in the Master Engineer’s Report for Acree Community Development District, dated December 3, 2024, attached hereto as Exhibit A and incorporated herein by reference (“Capital Improvement Plan,” and the project described therein, the “Project”); and
The plans and specifications for the Project are on file in the offices of the District Manager at c/o Governmental Management Services, LLC, 475 West Town Place, Suite 114, St. Augustine, Florida 32092 (“District Records Office”); and

The Debt Assessment Process
Also, as part of the Declaring Resolution, the Board expressed an intention to issue bonds, notes, or other specific financing mechanisms to provide all or a portion of the funds needed for the Project, and further declared its intention to defray the whole or any part of the expense of the Project by levying special assessments (“Debt Assessments”) on specially benefited property within the District; and

The Declaring Resolution was adopted in compliance with the requirements of Section 170.03, Florida Statutes, and prior to the time it was adopted, the requirements of Section 170.04, Florida Statutes, had been met; and
As directed by the Declaring Resolution, said Declaring Resolution was published as required by Section 170.05, Florida Statutes, and a copy of the publisher’s affidavit of publication is on file with the Secretary of the District; and

As directed by the Declaring Resolution, the Board caused to be made a preliminary assessment roll as required by Section 170.06, Florida Statutes; and
As required by Section 170.07, Florida Statutes, and as part of the Declaring Resolution, the Board fixed the time and place of a public hearing at which owners of the property to be assessed and other persons interested therein could appear before the Board and be heard as to (i) the propriety and advisability of making the improvements, (ii) the cost thereof,
(iii) the manner of payment therefore, and (iv) the amount thereof to be assessed against each specially benefited property or parcel, and the Board further authorized publication of notice of such public hearing and individual mailed notice of such public hearing in accordance with Chapters 170, 190, and 197, Florida Statutes; and

Notice of the scheduled public hearing was given by publication and also by mail as required by Sections 170.07 and 197.3632, Florida Statutes, and affidavits as to such publication and mailings are on file in the office of the Secretary of the District; and
On February 11, 2025, and at the time specified in the Declaring Resolution, the Board conducted such public hearing and heard and considered all complaints and testimony as to the matters described above; the Board further met as an “Equalization Board;” and the

Board has made such modifications in the preliminary assessment roll as it deems necessary, just, and right in the making of the final assessment roll; and

Equalization Board Additional Findings
Having considered the estimated costs of the Project, the estimated financing costs and all comments and evidence presented at such public hearing, the Board further finds and determines that:

It is necessary to the public health, safety, and welfare and in the best interests of the District that: (1) the District provide the Project as set forth in the Capital Improvement Plan; (2) the cost of such Project be assessed against the lands specially benefited by such Project as set forth in the Master Special Assessment Methodology Report, dated December 10, 2024 (“Assessment Report,” attached hereto as Exhibit B and incorporated herein by this reference); and (3) the District issue bonds, notes or other specific financing mechanisms to provide funds for such purposes pending the receipt of such Debt Assessments; and
The provision of said Project, the levying of the Debt Assessments, and the sale and issuance of such bonds, notes, or other specific financing mechanisms serve a proper, essential, and valid public purpose and are in the best interests of the District, its landowners, and residents; and

The estimated costs of the Project are as specified in the Capital Improvement Plan and Assessment Report (defined below), and the amount of such costs is reasonable and proper; and

It is reasonable, proper, just, and right to assess the cost of such Project against the properties specially benefited thereby, using the method determined by the Board and set forth in the Assessment Report, which results in the Debt Assessments set forth on the final assessment roll; and
The Project benefits all developable property within the District; and

Accordingly, the Debt Assessments as set forth in the Assessment Report constitute a special benefit to all parcels of real property listed on said final assessment roll, and the benefit, in the case of each such parcel, will be equal to or in excess of the Debt Assessments imposed thereon, as set forth in Exhibit B; and
All developable property within the District is deemed to be benefited by the Project, and the Debt Assessments will be allocated in accordance with the Assessment Report at Exhibit B; and

The Debt Assessments are fairly and reasonably allocated across the benefitted property, as set forth in Exhibit B; and

It is in the best interests of the District that the Debt Assessments be paid and collected as herein provided; and
In order to provide funds with which to pay the costs of the Project which are to be assessed against the benefited properties, pending the collection of the Debt

Assessments, it is necessary for the District to issue revenue bonds, notes, or other specific financing mechanisms, including refunding bonds (together, “Bonds”).

AUTHORIZATION	FOR	PROJECT;	ADOPTION	OF	CAPITAL
IMPROVEMENT PLAN. The Capital Improvement Plan identifies and describes the infrastructure improvements to be financed with the Bonds and sets forth the costs of the Project. The District hereby confirms that the Project serves a proper, essential, and valid public purpose. The use of the Capital Improvement Plan in connection with the sale of the Bonds is hereby authorized, approved, and ratified, and the proper officers, employees and/or agents of the District are hereby authorized and directed to take such further action as may be necessary or desirable to cause the same to be made.
ESTIMATED COST OF IMPROVEMENTS. The total estimated costs of the Project and the costs to be paid by the Debt Assessments on all specially benefited property are set forth in Exhibits A and B, respectively, hereto.

ADOPTION OF ASSESSMENT REPORT. The Assessment Report setting forth the allocation of Debt Assessments to the benefitted lands within the District is hereby approved, adopted, and confirmed. The District authorizes its use in connection with the sale of the Bonds.

EQUALIZATION,  APPROVAL,  CONFIRMATION  AND  LEVY  OF  DEBT
ASSESSMENTS. The Debt Assessments imposed on the parcels specially benefited by the Project, all as specified in the final assessment roll set forth in Exhibit B, attached hereto, are hereby equalized, approved, confirmed, and levied. Immediately following the adoption of this Resolution, the lien of Debt Assessments as reflected in Exhibit B, attached hereto, shall be recorded by the Secretary of the District in the District’s “Improvement Lien Book.” The Debt Assessments against each respective parcel shown on such final assessment roll and interest, costs, and penalties thereon, as hereafter provided, shall be and shall remain a legal, valid, and binding first lien on such parcel, coequal with the lien of all state, county, district, municipal or other governmental taxes and superior in dignity to all other liens, titles, and claims.
Supplemental Assessment Resolutions for Bonds. The lien for the Debt Assessments established hereunder shall be inchoate until the District issues Bonds. In connection with the issuance of any particular series of the Bonds, the District may adopt, without the need for further public hearing, a supplemental assessment resolution establishing specific Debt Assessments, in one or more separately enforceable Debt Assessment liens, securing such Bonds. Such subsequent resolutions shall be adopted at a noticed meeting of the District, and shall set forth the actual amounts financed, costs of issuance, expected costs of collection, and the total amount of the assessments pledged to that issue, which amount shall be consistent with the lien imposed by this Resolution. Among other things, the supplemental assessment resolutions may provide for the issuance of multiple series of Bonds each secured by one or more different assessment areas within the District.

Adjustments to Debt Assessments. The District may, by subsequent resolution, adjust the acreage assigned to particular parcel identification numbers listed on the final assessment roll to reflect accurate apportionment of acreage amongst individual parcel identification numbers. The District may make any other such acreage and boundary adjustments to parcels listed on the final assessment roll as may be necessary and in the best interests of the District, as determined by the Board by subsequent resolution. Any such adjustment in the assessment roll shall be consistent with the requirements of law.
FINALIZATION OF DEBT ASSESSMENTS. When a project has been constructed or otherwise provided to the satisfaction of the Board, the Board shall adopt a resolution accepting the same

and determining the actual costs (including financing costs) thereof, as required by Sections 170.08 and 170.09, Florida Statutes. Pursuant to Section 170.08, Florida Statutes, the District shall credit to each Debt Assessment the difference, if any, between the Debt Assessment as hereby made, approved, and confirmed and the actual costs incurred in completing the applicable project. In making such credits, no credit shall be given for bond, note or other specific financing mechanism costs, capitalized interest, funded reserves or bond or other discounts. Such credits, if any, shall be entered in the Improvement Lien Book.

PAYMENT OF DEBT ASSESSMENTS AND METHOD OF COLLECTION.
Payment. The Debt Assessments, as further set forth in each supplemental assessment resolution, and securing the issuance of each series of the Bonds, may be paid in not more than thirty (30) yearly installments of principal and interest – beginning upon the issuance of the particular series of the Bonds (and after taking into account any capitalized interest periods), provided, however, that the Board shall at any time make such adjustments by resolution, and at a noticed meeting of the Board, to that payment schedule as may be necessary and in the best interests of the District to account for changes in long and short term debt as actually issued by the District.
Prepayment. Subject to the provisions of any supplemental assessment resolution, any owner of property subject to the Debt Assessments may, at its option, pre-pay the entire amount of the Debt Assessment any time, or a portion of the amount of the Debt Assessment up to two times, plus accrued interest to the next succeeding interest payment date (or the second succeeding interest payment date if such prepayment is made within forty-five (45) calendar days before an interest payment date (or such other time as set forth in the supplemental indenture for the applicable series of bonds secured by the Debt Assessments in question), attributable to the property subject to Debt Assessments owned by such owner. Prepayment of Debt Assessments does not entitle the property owner to any discounts for early payment. If authorized by a supplemental assessment resolution, the District may grant a discount equal to all or a part of the payee’s proportionate share of the cost of the Project consisting of bond financing costs, such as capitalized interest, funded reserves, and bond discount included in the estimated cost of the Project, upon payment in full of any Debt Assessment during such period prior to the time such financing costs are incurred as may be specified by the District.

Uniform Method; Alternatives. The District may elect to use the method of collecting Debt Assessments authorized by Sections 197.3632 and 197.3635, Florida Statutes (“Uniform Method”). The District has heretofore taken, or will take prior to collection, all required actions to comply with Sections 197.3632 and 197.3635, Florida Statutes. Such Debt Assessments may be subject to all of the collection provisions of Chapter 197, Florida Statutes. Notwithstanding the above, in the event the Uniform Method of collecting its Debt Assessments is not available to the District in any year, or if determined by the District to be in its best interests, and subject to the terms of any applicable trust indenture, the Debt Assessments may be collected as is otherwise permitted by law. In particular, the District may, in its sole discretion, collect Debt Assessments by directly billing landowners and enforcing said collection in any manner authorized by law. Any prejudgment interest on delinquent assessments that are directly billed shall accrue at the applicable rate of any bonds or other debt instruments secured by the Debt Assessments. The decision to collect Debt Assessments by any particular method – e.g., on the tax roll or by direct bill – does not mean that such method will be used to collect Debt Assessments in future years, and the District reserves the right in its sole discretion to select collection methods in any given year, regardless of past practices.

Uniform Method Agreements Authorized. For each year the District uses the Uniform Method, the District shall enter into an agreement with the County Tax Collector who may notify each owner of a lot or parcel within the District of the amount of the special assessment, including interest thereon, in the manner provided in Section 197.3635, Florida Statutes.

Re-amortization. Any particular lien of the Debt Assessments shall be subject to re- amortization where the applicable series of Bonds is subject to re-amortization pursuant to the applicable trust indenture and where the context allows.
ALLOCATION OF DEBT ASSESSMENTS; APPLICATION OF TRUE-UP PAYMENTS.

At such time as parcels of land, or portions thereof, are included in a plat or site plan, it shall be an express condition of the lien established by this Resolution that, prior to County approval, any and all plats or site plans for any portion of the lands within the District, as the District’s boundaries may be amended from time to time, shall be presented to the District Manager for review. As parcels of land, or portions thereof, are included in a plat or site plan, the District Manager shall review the plat or site plan and cause the Debt Assessments securing each series of Bonds to be reallocated to the units being included in the plat or site plan and the remaining property in accordance with Exhibit B, and cause such reallocation to be recorded in the District’s Improvement Lien Book.

Pursuant to the Assessment Report, attached hereto as Exhibit B, and which terms are incorporated herein, there may be required from time to time certain true-up payments. When a plat or site plan is presented to the District, the District Manager shall review the plat or site plan to determine whether, taking into account the plat or site plan, there is a net shortfall in the overall principal amount of assessments reasonably able to be assigned to benefitted lands within the District. Such determination shall be made based on the language in this Resolution and/or the tests or other methods set forth in Exhibit B (if any), or any tests or methods set forth in a supplemental assessment resolution and corresponding assessment report. If the overall principal amount of assessments reasonably cannot be assigned, or is not reasonably expected to be assigned, as set forth in more detail in and subject to the terms of Exhibit B (or any supplemental resolution and report, as applicable), to the platted and site planned lands as well as the undeveloped lands, then a debt reduction payment (“True-Up Payment”) in the amount of such shortfall shall become due and payable that tax year by the landowner(s) of record of the land subject to the proposed plat or site plan and of the remaining undeveloped lands, in addition to any regular assessment installment. The District’s review shall be limited solely to this function and the enforcement of the lien established by this Resolution. In the event a True-Up Payment is due and unpaid, the lien established herein for the True-Up Payment amount shall remain in place until such time as the True-Up Payment is made. The District shall record all True-Up Payments in its Improvement Lien Book.
In connection with any true-up determination, affected landowner(s) may request that such true-up determination be deferred because the remaining undeveloped lands are able to support the development of all of the originally planned units within the District. To support the request, the affected landowner(s) shall provide the following evidence for the District’s consideration: a) proof of the amount of entitlements remaining on the undeveloped lands within the District, b) a revised overall development plan showing the

number and type of units reasonably planned for the remainder of the development, c) evidence of allowable zoning conditions that would enable those entitlements to be placed in accordance with the revised development plan, and d) documentation prepared by a licensed engineer that shows the feasibility of implementing the proposed development plan. Any deferment shall be in the District’s reasonable discretion.
The foregoing is based on the District's understanding that the community would be developed with the type and number of units set forth in Exhibit B, on the developable acres. However, more than the stated number of units may be developed. In no event shall the District collect Debt Assessments pursuant to this Resolution in excess of the total debt service related to the Project, including all costs of financing and interest. The District recognizes that such things as regulatory requirements and market conditions may affect the timing and scope of the development in the District. If the strict application of the true- up methodology to any assessment reallocation pursuant to this paragraph would result in Debt Assessments collected in excess of the District's total debt service obligations for the Project, the Board shall by resolution take appropriate action to equitably reallocate the Debt Assessments.
As set forth in any supplemental assessment resolution and/or supplemental assessment report for a specific series of Bonds, the District may assign a specific debt service assessment lien comprising a portion of the Debt Assessments to an assessment area comprised of specific unplatted lands which are less than all of the unplatted lands in the District, and, accordingly, any related true-up determinations may be limited to determining whether the planned units for such specified lands in the assessment area have been and/or will be developed.

GOVERNMENT PROPERTY; TRANSFERS OF PROPERTY TO UNITS OF
LOCAL, STATE, AND FEDERAL GOVERNMENT. Real property owned by units of local, state, and federal governments, or similarly exempt entities, shall not be subject to the Debt Assessments without specific consent thereto. If at any time, any real property on which Debt Assessments are imposed by this Resolution is sold or otherwise transferred to a unit of local, state, or federal government (without consent of such governmental unit to the imposition of Debt Assessments thereon), or similarly exempt entity, all future unpaid Debt Assessments for such tax parcel shall become due and payable immediately prior to such transfer without any further action of the District.
ASSESSMENT NOTICE. The District’s Secretary is hereby directed to record a general Notice of Assessments in the Official Records of Duval County, Florida, which shall be updated from time to time in a manner consistent with changes in the boundaries of the District.

SEVERABILITY. If any section or part of a section of this Resolution is declared invalid or unconstitutional, the validity, force and effect of any other section or part of a section of this Resolution shall not thereby be affected or impaired unless it clearly appears that such other section or part of a section of this Resolution is wholly or necessarily dependent upon the section or part of a section so held to be invalid or unconstitutional.
CONFLICTS. All resolutions or parts thereof in conflict herewith are, to the extent of such conflict, superseded and repealed.

EFFECTIVE DATE. This Resolution shall become effective upon its adoption.

APPROVED AND ADOPTED THIS 11th DAY OF FEBRUARY, 2025.
ATTEST:	ACREE COMMUNITY
DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

Exhibit A:	Master Engineer’s Report for Acree Community Development District, dated December 3, 2024
Exhibit B:	Master Special Assessment Methodology Report, dated December 10, 2024

Engineer’s Report

Master Special Assessment Methodology Report

FIFTH ORDER OF BUSINESS

Acree Community Development District	
Auditor Selection Evaluation Criteria	

	Ability of Personnel	Proposer's Experience	Understanding of
Scope of Work	Ability to Furnish the
Required Services	Price		
	(e.g., geographic locations of the firm's headquarters or permanent office in relation to the project; capabilities and experience of key personnel; present ability to manage this project; evaluation of existing workload; proposed staffing levels, etc.)	(e.g., past record and experience of the Proposer in similar projects; volume of work previously performed by the firm; past performance for other Community Development Districts in other contracts; character; integrity; reputation of respondent, etc.)	

Extent to which the proposal demonstrates an understanding of the District's needs for the services requested.	
Extent to which the proposal demonstrates the adequacy of proposer's financial resources and stability as a business entity necessary to complete the services required (e.g., the existence of any natural disaster plan for business operations).	

Points will be awarded based upon the price bid for the rendering of the services and reasonableness of the price to services.	

Point Total	
Proposer	20	20	20	20	20	100	

Berger, Toombs, Elam, Gaines & Frank						

Grau & Associates							

EIGHTH ORDER OF BUSINESS

Acree
Community Development District	Funding Request #11
January 31, 2025

PAYEE	GENERAL FUND	

Governmental Management Services
Inv# 21 - Management Fees - January 2025

Kutak Rock LLP
Inv# 3512128 - General Counsel - October 2024	FY25	
	
$	4,044.26

249.00	

Total Funding Request	$	4,293.26

Please make check payable to:

Acree Community Development District
475 West Town Place Ste 114 St Augustine FL 32092

Governmental Management Services, LLC
475 West Town Place, Suite 114 St. Augustine, FL 32092

Invoice

Bill To:
Acree COD
475 West Town Place Suite 114
St. Augustine, FL 32092

Invoice#: 21
Invoice Date: 1/1/25
Due Date: 1/1/25
Case:
P.O. Number:

Description	Hours/Qty	Rate	Amount

Management Fees - January 2025 Website Administration - January 2025 Information Technology - January 2025 Office Supplies
Postage Copies Telephone		3,750.00
100.00
150.00
0.12
2.76
32.40
8.98	3,750.00
100.00
150.00
0.12
2.76
32.40
8.98	

Total	$4,044.26	
Payments/Credits	$0.00	
Balance Due	$4,044.26	

K U T A K  R O C K  L L P
TALLAHASSEE, FLORIDA
Telephone 404-222-4600
Facsimile 404-222-4654

Federal ID 47-0597598

January 14, 2025

Check Remit To: Kutak Rock LLP PO Box 30057
Omaha, NE 68103-1157

ACH/Wire Transfer Remit To:
ABA #104000016
First National Bank of Omaha
Kutak Rock LLP A/C # 24690470
Reference: Invoice No. 3512128 Client Matter No. 42123-1
Notification Email: eftgroup@kutakrock.com

Mr. Jim Oliver Acree CDD
c/o Governmental Mangement Services, LLC Suite 114
475 West Town Place
St. Augustine, FL 32092	Invoice No. 3512128
42123-1

Re:	General
For Professional Legal Services Rendered

10/08/24	W. Haber	0.40	144.00	Prepare for and participate in Board	
				meeting	
10/14/24	K. Jusevitch	0.20	33.00	Review annual agency invoice	
10/21/24	W. Haber	0.20	72.00	Review	and	respond	to	
				correspondence	regarding	special	
district fee and CDD ordinance from Special District Accountability Program
TOTAL HOURS	0.80
TOTAL FOR SERVICES RENDERED	$249.00
TOTAL CURRENT AMOUNT DUE	$249.00

PRIVILEGED AND CONFIDENTIAL
ATTORNEY-CLIENT COMMUNICATION AND/OR WORK PRODUCT

NINTH ORDER OF BUSINESS

Acree
Community Development District

Unaudited Financial Reporting
December 31, 2024

Table of Contents

	Balance Sheet

	General Fund Income Statement

	Month to Month

	Developer Contributions

Acree
Community Development District Combined Balance Sheet December 31, 2024

General Fund

Assets:
Cash:
Operating Account

$	9,077

Assessments Receivable	-

Due from Developer	12,313	
Total Assets	$	21,390	

Liabilities:
Accounts Payable	

$	4,207	
Accounts FICA Payable	-	
Total Liabilites	$	4,207	

Fund Balance:
Nonspendable: Prepaid Items	

$	-	
Deposits	-	
Unassigned	17,183	
Total Fund Balances	$	17,183	
		
Total Liabilities & Fund Balance	$	21,390	

Acree
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending December 31, 2024

Adopted	Prorated Budget	Actual	
Budget	Thru 12/31/24	Thru 12/31/24	Variance	

Revenues:

Developer Contributions Interest Income	$	131,643
-	$	17,405
-	$	17,405
-	$	-
-	
Total Revenues	$	131,643	$	17,405	$	17,405	$	-	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	12,000	$	3,000	$	-	$	3,000	
FICA Expense	918	-	230	-	230	
Engineering	12,000	3,000	-	3,000	
Attorney	25,000	6,250	-	6,250	
Annual Audit	3,250	-	-	-	
Assessment Administration	7,500	-	-	-	
Management Fees	45,000	11,250	11,250	-	
Dissemination	7,500	1,875	-	1,875	
Information Technology	1,800	450	450	-	
Website Maintenance	1,200	300	300	-	
Telephone	500	125	13	112	
Postage & Delivery	1,500	375	3	372	
Insurance	5,500	5,500	5,200	300	
Printing & Binding	1,200	300	14	286	
Legal Advertising	5,000	1,250	249	1,001	
Other Current Charges	600	150	62	88	
Office Supplies	1,000	250	0	250	
Dues, Licenses & Subscriptions	175	175	175	-	
Total General & Administrative	$	131,643	$	34,480	$	17,716	$	16,763	
					
Excess (Deficiency) of Revenues over Expenditures	$	-		$	(311)		

Other Financing Sources/(Uses):					
Transfer In/(Out)	$	-	$	-	$	-	$	-	
Total Other Financing Sources/(Uses)	$	-	$	-	$	-	$	-	
					
Net Change in Fund Balance	$	-	$	-	$	(311)	$	-	
					
Fund Balance - Beginning	$	-		$	17,494		
					
Fund Balance - Ending	$	-		$	17,183		

Acree
Community Development District Month to Month

Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total

Revenues:

Developer Contributions	$	9,389	$	4,007	$	4,009	$	-		$	-		$	-		$	-		$	-	$	-		$	-		$	-		$	-		$	17,405	
Interest Income	-	-	-		-		-		-		-		-	-		-		-		-	-	

Total Revenues	$	9,389	$	4,007	$	4,009	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	17,405	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
FICA Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	
Engineering	-	-	-	-	-	-	-	-	-	-	-	-	-	
Attorney	-	-	-	-	-	-	-	-	-	-	-	-	-	
Assessment Administration	-	-	-	-	-	-	-	-	-	-	-	-	-	
Management Fees	3,750	3,750	3,750	-	-	-	-	-	-	-	-	-	11,250	
Dissemination	-	-	-	-	-	-	-	-	-	-	-	-	-	
Information Technology	150	150	150	-	-	-	-	-	-	-	-	-	450	
Website Maintenance	100	100	100	-	-	-	-	-	-	-	-	-	300	
Telephone	-	6	7	-	-	-	-	-	-	-	-	-	13	
Postage & Delivery	1	1	1	-	-	-	-	-	-	-	-	-	3	
Insurance	5,200	-	-	-	-	-	-	-	-	-	-	-	5,200	
Printing & Binding	14	1	0	-	-	-	-	-	-	-	-	-	14	
Legal Advertising	80	80	90	-	-	-	-	-	-	-	-	-	249	
Other Current Charges	16	25	22	-	-	-	-	-	-	-	-	-	62	
Office Supplies	0	0	0	-	-	-	-	-	-	-	-	-	0	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Total General & Administrative	$	9,485	$	4,111.58	$	4,120.14	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	17,716	
					
Excess (Deficiency) of Revenues over Expenditures	$	(95)	$	(104)	$	(111)	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	(311)	

Other Financing Sources/Uses:					
Transfer In/(Out)	-	-	-	-	-	-	-	-	-	-	-	-	-	
Total Other Financing Sources/Uses	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
					
Net Change in Fund Balance	$	(95)	$	(104)	$	(111)	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	(311)	

Acree Community Development District Developer Contributions/Due from Developer

Funding
Request #	Date Prepared	Date
Payment Received	Check Amount	Total
Funding Request FY24	Total
Funding Request FY25	Capital
(Due to Developer)	Over and
(short) Balance Due	

1	
5/17/23	
8/2/23	
$	20,250.00	
$	-		
$	
-	$	-	
2	9/8/23	10/25/24	$	10,942.59	$	-		$	-	$	-	
3	2/11/24	3/6/24	$	19,365.47	$	14,749.70		$	-	$	-	
4	4/30/24	7/3/24	$	5,750.36	$	5,750.36		$	-	$	-	
5	7/1/24	10/11/24	$	2,180.55	$	2,180.55		$	-	$	-	
6	8/31/24	10/11/24	$	2,492.09	$	2,492.09		$	-	$	-	
7	9/30/24	11/6/24	$	6,969.29	$	1,769.29	$	5,200.00	$	-	$	-	
8	10/31/24	1/3/25	$	4,189.22		$	4,189.22	$	-	$	-	
9	11/30/24	1/3/25	$	4,007.26		$	4,007.26	$	-	$	-	
10	12/31/24			$	108.00	$	4,008.82	$	-	$	4,116.82	

Due from Developer	$	76,146.83	$	27,049.99	$	17,405.30	$	-	$	4,116.82	
						
Total Developer Contributions		$	27,049.99	$	17,405.30	$	-