Lakeside Preserve Community Development District
12051 Corporate Boulevard, Orlando, FL 32817; 407-723-5900 www.lakesidepreservecdd.org
The following is the proposed agenda for the Board of Supervisors meeting for the Lakeside Preserve Community Development District, scheduled to be held Thursday, July 16, 2020 at 11:30 a.m. via conference call due to the COVID-19 Executive Order 20-150. Attached to this Agenda is a copy of the Executive Order 20-150. Questions or comments on the Board Meeting or proposed agenda may be addressed to Jane Gaarlandt at gaarlandtj@pfm.com or (407) 723- 5900.
To attend the meeting, please use the below conference call information: Phone:	1-844-621-3956
Access Code:	790 393 986 #
PROPOSED BOARD OF SUPERVISORS’ MEETING AGENDA

Administrative Matters
Roll Call to Confirm Quorum
Public Comment Period [for any members of the public desiring to speak on any proposition before the Board]
Consideration of Minutes of the May 14, 2020 Board of Supervisors’ Meeting
Consideration of Resolution 2020-08, Annual Meeting Schedule for Fiscal Year 2020/2021

Business Matters
Public Hearing on the Adoption of the District’s Fiscal Year 2020-2021 Budget
Public Comments and Testimony
Board Comments
Consideration of Resolution 2020-09, Adopting a Fiscal Year 2020-2021 Budget and Appropriating Funds
Public Hearing on the Imposition of Special Assessments to Fund the District’s Fiscal Year 2020-2021 Budget
Public Comments and Testimony
Board Comments
Consideration of Resolution 2020-10, Adopting an Assessment Roll for Fiscal Year 2020-2021 and Certifying Special Assessments for Collection
Consideration of Resolution 2020-11, Accepting the District Engineer’s Certificate Declaring the Series 2019 Project Complete
Consideration of PFM Fee Increase Letter
Consideration of First Amendment to Agreement between the District and VGlobalTech for Website Services
Consideration of the Fiscal Year 2019 Audited Financial Statement

Ratification of Payment Authorization Nos. 85 – 91
Review of Monthly Financials

Other Business Staff Reports
District Counsel District Engineer District Manager
Supervisor Requests and Audience Comments Adjournment

STATE OF FLORIDA
OFFICE OF THE GOVERNOR EXECUTIVE ORDER NUMBER 20-150
(Emergency Management- COVID-19- Local Government Public Meetings)

WHEREAS, Executive Order 20-69, as extended by Executive Order 20-112, Executive Order 20-123 and Executive Order 20-139, expires on June 30, 2020, unless extended.
NOW, THEREFORE, I, RON DESANTIS, as Governor of Florida, by virtue of the authority vested in me by Article IV, Section (l )(a) of the Florida Constitution, Chapter 252, Florida Statutes, and all other applicable laws , promulgate the following Executive Order to take immediate effect:
Section 1. I hereby extend Executive Order 20-69, as extended by Executive Orders 20- 121 , 20-123 and 20-139, until 12:01 a.m. on August 1, 2020.

IN TESTIMONY WHEREOF, I have hereunto set my hand and caused the Great Seal of the State of Florida to be affixed, at Tallahassee, this 23rd day o	e, 2020.

ATTEST:

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Lakeside Preserve Community Development District

Minutes

MINUTES OF MEETING

LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS’ MEETING
Thursday, May 15, 2020 at 11:35 a.m.
Via conference call due to the COVID-19 Executive Order 20-69.

Board Members present at roll call:

Lee Saunders	Chairman	(via phone)	
Brian Walsh	Assistant Secretary	(via phone)	
Jeffery Shenefield	Assistant Secretary	(via phone)	
Dan Lewis	Assistant Secretary	(via phone)	

Also Present:

Jane Gaarlandt	PFM Group Consulting LLC	(via phone)	
Christina Hanna	PFM Group Consulting LLC	(via phone)	
Jennifer Glasgow	PFM Group Consulting LLC	(via phone)	
Amanda Lane	PFM Group Consulting LLC	(via phone)	
Dexter Glasgow	PFM Group Consulting LLC	(via phone)	
Michelle Rigoni	Hopping Green & Sams, P.A.	(via phone)	
Roy Van Wyk	Hopping Green & Sams, P.A.	(via phone)	
Todd Amaden	District Engineer	(via phone)	

FIRST ORDER OF BUSINESS	Call to Order and Roll Call

The meeting was called to order at approximately 11:35 a.m. Those in attendance are outlined above.

SECOND ORDER OF BUSINESS	Public Comment Period

There were no public comments.

THIRD ORDER OF BUSINESS	Consideration of Minutes of the January 9, 2020 Board of Supervisors Meeting

The Board reviewed the minutes of the January 9, 2020 Board of Supervisors Meeting.

ON MOTION by Mr. Saunders, seconded by Mr. Shenefield, with all in favor, the Board approved the minutes of the January 9, 2020 Board of Supervisors Meeting.

FOURTH ORDER OF BUSINESS	Consideration of Letter from Supervisor of Election Regarding Qualified Electors

Ms. Gaarlandt noted as of April 15, 2020 there are 39 registered voters living within the District.

FIFTH ORDER OF BUSINESS	Consideration of Resolution 2020-06, Approving a Proposed Budget for Fiscal Year 2020-2021 and Setting a Public Hearing Date Thereon

District staff suggested July 16, 2020 as the public hearing date for the adoption of the fiscal Year 2020-2021 Budget at the Highland offices.

There is a proposed increase to the Budget of $50,000.00. A discussion took place regarding the scope of work for the landscaping and the responsibilities of the District vs. the HOA. The Board discussed that the District maintain the tracts and HOA maintain the right-of-way. The maintenance person is sending the HOA bills to the CDD.

Ms. Gaarlandt noted that the current gross assessment per platted lot is $645.16 and the assessment for unplatted lots is $150.16. Ms. Glasgow explained the Phase 1 platted lots are a total of $800,139.26 for a net assessment of $593.62. it would be reduced slightly. The Phase 2 and Phase 3 unplatted lots would be at .5 ERU and those would be at $296.81 per ERU and would increase. A lengthy discussion took place. Mr. Van Wyk noted the District can come up with any number of methods the Board wants to fund the Budget. The proposed budget is a cap amount and can be reduced prior to adoption but cannot be increased after today.

Ms. Glasgow explained why the assessment for the platted lots is going down and the assessments for the unplatted lots are going up. Last year the Board decided that they were going to have the platted lots take on more to get each lot to have a net assessment of $600.00 per lot. If they had not have done that, it would have been about $400.00 per lot. The platted amount last year was
$81,000.00. This year by running it through an allocation based on the ERU of 1 and the unplatted

at 0.5. it is a little less than $81,000.00 it is $80,139.26 is the portion going to the platted lots. That is why it is reducing the assessment slightly. The unplatted lots is getting more of the assessment that they didn’t last year.

Ms. Glasgow explained the history of the ERU for unplatted land and how she came up with the number. It is either from the Debt Service allocation or the Board’s determination to use the ERU calculation for the year. A discussion took place regarding a possible Deficit Funding Agreement if necessary.

Ms. Gaarlandt requested approval by the Board of the Proposed Budget so District staff can submit it to the County in order to move forward with the public hearing. Mr. Van Wyk stated District staff took the budget and figured how much it would be if they cut out everything not related to the platted lots and the administrative costs associated with that. A lengthy discussion took place regarding assessments. Mr. Van Wyk recommended the Board approve the Resolution today because the District has to send this to the County and the City 60 days before the public hearing and continue today’s meeting or wait to the June meeting to discuss the assessment portion.

ON MOTION by Mr. Saunders, seconded by Mr. Walsh, with all in favor, the Board approved Resolution 2020-06, Approving a Proposed Budget for Fiscal Year 2020-2021 and Setting a Public Hearing Date for July 16, 2020.

SIXTH ORDER OF BUSINESS	Consideration of Resolution 2020-07, Adopting Internal Controls Policy

Mr. Van Wyk presented the Internal Controls Policy. The polices are already in place but by Statute the District is required to adopt a policy.

ON MOTION by Mr. Saunders, seconded by Mr. Lewis, with all in favor, the Board approved Resolution 2020-07, Adopting Internal Controls Policy

SEVENTH ORDER OF BUSINESS	Ratification	of	Fiscal	Year	2019 Auditor Engagement Letter

Ms. Gaarlandt explained the Audit Engagement Letter is in accordance with the previous proposal from the Auditor. The Audit is currently undergoing. There were some changes to the language as it was updated from previous years.

ON MOTION by Mr. Lewis, seconded by Mr. Saunders, with all in favor, the Board ratified the Fiscal Year 2019 Auditor Engagement Letter.

EIGHTH ORDER OF BUSINESS	Ratification of Payment Authorization Nos. 69 - 84

The Board reviewed Payment Authorization Nos. 69 - 84. Ms. Gaarlandt noted these have previously been approved by the Chair and just need to be ratified by the Board.

ON MOTION by Mr. Lewis, seconded by Mr. Saunders, with all in favor, the Board ratified Payment Authorization Nos. 69- 84.

NINTH ORDER OF BUSINESS	Review of Monthly Financials

The Board reviewed the Monthly Financials. There was no action required by the Board.

TENTH ORDER OF BUSINESS	Staff Reports District Counsel –	No Report
District Engineer – Mr. Amaden explained Ms. Lane sent him an email from the Auditors with three questions asking if the assets have been conveyed, if they have been put in service, and if the project as certified complete. He responded some of the assets have been conveyed, they have been put into service but he doesn’t see where the project has been certified complete. He asked Ms. Gaarlandt if she can check on that. She did not recall that either. He said if not the District must follow through and do that. Mr. Van Wyk stated as of the financing acquisition they were still working on sidewalks. If it is complete the District can move forward to certify the project complete. Mr. Van Wyk will get the form letters put together and the resolutions. Mr. Van Wyk explained when a project is officially complete the District is required by the financing documents to declare the project complete and finalize assessments.

District Manager – No Report

ELEVENTH ORDER OF BUSINESS	Supervisor Requests and Audience Comments

Issues were brought up related to landscaping and the irrigation system and mulch in the median. He asked if he should request bids from the landscaping. Mr. Glasgow replied he was in touch with the current vendor yesterday to bring him up to date on the email chain related to that issue and what the expectation is from the District. Mr. Glasgow stated he will keep on eye on this as the current contract does include maintenance of that area but it is not up to the standard of what the Board and District staff expects. That is the area where the irrigation was damaged and there will be some recovery time. The District should be further along with mulching and getting the appearance back up. Mr. Glasgow should hear from the vendor regarding mulching soon.

TWELFTH ORDER OF BUSINESS	Adjournment

Ms. Gaarlandt requested a motion to adjourn the meeting.

ON MOTION by Mr. Saunders seconded by Mr. Shenefield with all in favor, the May 14, 2020 Board of Supervisor’s Meeting for the Lakeside Preserve Community Development District was adjourned.

 	_ 	_	 	_ 	
Secretary / Assistant Secretary	Chairman / Vice Chairman

Lakeside Preserve Community Development District

Resolution 2020-08

RESOLUTION 2020-08

A RESOLUTION OF THE LAKESIDE PRESERVE COMMUNITY	DEVELOPMENT	DISTRICT DESIGNATING DATES, TIMES AND LOCATIONS FOR REGULAR MEETINGS OF THE BOARD OF SUPERVISORS OF THE DISTRICT AND PROVIDING FOR AN EFFECTIVE DATE.

WHEREAS, the Lakeside Preserve Community Development District (“District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated in the City of Lakeland, Florida; and

WHEREAS, the Board of Supervisors of the District (“Board”) is statutorily authorized to exercise the powers granted to the District; and

WHEREAS, all meetings of the Board shall be open to the public and governed by the provisions of Chapter 286, Florida Statutes; and

WHEREAS, the Board is statutorily required to file annually, with the local governing authority and the Florida Department of Economic Opportunity, a schedule of its regular meetings.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT:

Regular meetings of the District’s Board shall be held as provided on the schedule attached hereto as Exhibit A.

In accordance with Section 189.015(1), Florida Statutes, the District’s Secretary is hereby directed to file annually a schedule of the District’s regular meetings.

This Resolution shall take effect immediately upon adoption.

Adopted this 16th day of July, 2020.

ATTEST:	Lakeside Preserve
Community Development District

Secretary	Chairperson

EXHIBIT A

The regular meeting schedule of the Board of Supervisors of the Lakeside Preserve Community Development District for the Fiscal Year 2020-2021 shall be located at the Offices of Highland Homes, 3020 S. Florida Avenue, Suite 101, Lakeland Florida 33803 at 11:30 a.m. unless otherwise indicated; as follows:

October 8, 2020
November 12, 2020
December 10, 2020
January 4, 2021
February 11, 2021
March 11, 2021
April 8, 2021
May 14, 2021
June 10, 2021
July 8, 2021
August 12, 2021
September 19, 2021

The meetings are open to the public and will be conducted in accordance with the provision of Florida Law for Community Development Districts. The meetings may be continued to a date, time, and place to be specified on the record at the meeting. A copy of the agenda for these meetings may be obtained from 12051 Corporate Blvd., Orlando, Florida 32817 or by calling (407) 723-5900.

There may be occasions when one or more Supervisors or staff will participate by telephone. Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations at this meeting because of a disability or physical impairment should contact the District Office at (407) 723-5900 at least 48 hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) / 1-800-955-8770 (Voice), for aid in contacting the District Office.

A person who decides to appeal any decision made at the meeting with respect to any matter considered at the meeting is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based.

District Manager

Lakeside Preserve Community Development District

District’s Fiscal Year 2020-2021 Budget

Lakeside Preserve Community Development District

Resolution 2020-09

RESOLUTION 2020-09

THE ANNUAL APPROPRIATION RESOLUTION OF THE LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT (“DISTRICT”) RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGET(S) FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2020, AND ENDING SEPTEMBER 30, 2021; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has, prior to the fifteenth (15th) day in June, 2020, submitted to the Board of Supervisors (“Board”) of the Lakeside Preserve Community Development District (“District”) proposed budget(s) (“Proposed Budget”) for the fiscal year beginning October 1, 2020 and ending September 30, 2021 (“Fiscal Year 2020/2021”) along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Section 190.008(2)(a), Florida Statutes; and

WHEREAS, at least sixty (60) days prior to the adoption of the Proposed Budget, the District filed a copy of the Proposed Budget with the local governing authorities having jurisdiction over the area included in the District pursuant to the provisions of Section 190.008(2)(b), Florida Statutes; and

WHEREAS, the Board set a public hearing thereon and caused notice of such public hearing to be given by publication pursuant to Section 190.008(2)(a), Florida Statutes; and

WHEREAS, the District Manager posted the Proposed Budget on the District’s website at least two days before the public hearing; and

WHEREAS, Section 190.008(2)(a), Florida Statutes, requires that, prior to October 1st of each year, the Board, by passage of the Annual Appropriation Resolution, shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year; and

WHEREAS, the District Manager has prepared a Proposed Budget, whereby the budget shall project the cash receipts and disbursements anticipated during a given time period, including reserves for contingencies for emergency or other unanticipated expenditures during the fiscal year.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. BUDGET

The Board has reviewed the Proposed Budget, a copy of which is on file with the office of the District Manager and at the District’s Local Records Office, and hereby approves certain amendments thereto, as shown in Section 2 below.

The Proposed Budget, attached hereto as Exhibit “A,” as amended by the Board, is hereby adopted in accordance with the provisions of Section 190.008(2)(a), Florida Statutes (“Adopted Budget”), and incorporated herein by reference; provided, however, that the comparative figures contained in the Adopted Budget may be subsequently revised as deemed necessary by the District Manager to reflect actual revenues and expenditures.

The Adopted Budget, as amended, shall be maintained in the office of the District Manager and at the District’s Local Records Office and identified as “The Budget for the Lakeside Preserve Community Development District for the Fiscal Year Ending September 30, 2021.”

The Adopted Budget shall be posted by the District Manager on the District’s official website within thirty (30) days after adoption, and shall remain on the website for at least 2 years.

SECTION 2.	APPROPRIATIONS

There is hereby appropriated out of the revenues of the District, for Fiscal Year 2020/2021, the sum of $424,709.39 to be raised by the levy of assessments and/or otherwise, which sum is deemed by the Board to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated in the following fashion:

TOTAL GENERAL FUND	$161,150.00	
DEBT SERVICE FUND (SERIES 2019)	$263,559.39	
TOTAL ALL FUNDS	$424,709.39	
SECTION 3.	BUDGET AMENDMENTS		

Pursuant to Section 189.016, Florida Statutes, the District at any time within Fiscal Year 2020/2021 or within 60 days following the end of the Fiscal Year 2020/2021 may amend its Adopted Budget for that fiscal year as follows:

The Board may authorize an increase or decrease in line item appropriations within a fund by motion recorded in the minutes if the total appropriations of the fund do not increase.

The District Manager or Treasurer may authorize an increase or decrease in line item appropriations within a fund if the total appropriations of the fund do not increase and if the aggregate change in the original appropriation item does not exceed $10,000 or 10% of the original appropriation.

By resolution, the Board may increase any appropriation item and/or fund to reflect receipt of any additional unbudgeted monies and make the corresponding change to appropriations or the unappropriated balance.

Any other budget amendments shall be adopted by resolution and consistent with Florida law.

The District Manager or Treasurer must establish administrative procedures to ensure that any budget amendments are in compliance with this Section 3 and Section 189.016, Florida Statutes, among other applicable laws. Among other procedures, the District Manager or Treasurer must ensure that any amendments to budget under subparagraphs c. and d. above are posted on the District’s website within 5 days after adoption and remain on the website for at least 2 years.

SECTION 4. EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 16TH DAY OF JULY, 2020.

ATTEST:	LAKESIDE PRESERVE COMMUNITY
DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

Lakeside Preserve CDD
FY 2021 Proposed O&M Budget

Actual Through 06/30/2020

Year To Date

Anticipated July
- Sep.

Anticipated Total FY 2020

FY 2020
Adopted Budget

FY 2021
Proposed Budget

Revenues

Off-Roll Assessments	$	99,993.75		$	26,531.25		$	126,525.00		$ 126,525.00		$ 176,900.00	
Developer Contributions	14,732.00		16,871.77		31,603.77		-		-	
Net Revenues	$	114,725.75		$	43,403.02		$	158,128.77		$ 126,525.00		$ 176,900.00	

General & Administrative Expenses

Supervisor Fees	$	2,400.00	$	1,800.00	$	4,200.00	$	2,400.00	$	7,200.00	
D&O Insurance	2,306.00	-	2,306.00	2,475.00	2,500.00	
Trustee Services	1,683.60	1,500.00	3,183.60	6,000.00	6,000.00	
Management	15,000.03	4,999.97	20,000.00	20,000.00	25,000.00	
Engineering	600.00	200.00	800.00	5,000.00	5,000.00	
Dissemination Agent	5,000.00	-	5,000.00	5,000.00	5,000.00	
District Counsel	12,381.30	4,127.10	16,508.40	12,000.00	20,000.00	
Assessment Administration	7,500.00	-	7,500.00	7,500.00	7,500.00	
Reamortization Schedules	-	250.00	250.00	250.00	250.00	
Audit	3,500.00	1,500.00	5,000.00	5,000.00	5,000.00	
Travel and Per Diem	124.31	41.44	165.75	500.00	500.00	
Telephone	-	50.00	50.00	200.00	200.00	
Postage & Shipping	259.80	86.60	346.40	300.00	300.00	
Copies	-	125.00	125.00	500.00	500.00	
Legal Advertising	1,263.07	421.02	1,684.09	3,000.00	3,000.00	
Miscellaneous	5.50	1.83	7.33	2,500.00	2,500.00	
Web Site Maintenance	1,425.00	1,275.00	2,700.00	2,700.00	2,700.00	
Dues, Licenses, and Fees	175.00	-	175.00	175.00	175.00	
Electric	994.10	331.37	1,325.47	-	2,000.00	
Aquatic Contract	10,325.00	2,175.00	12,500.00	8,000.00	8,700.00	
General Insurance	2,819.00	-	2,819.00	3,025.00	3,025.00	
Property & Casualty Insurance	-	-	-	-	3,000.00	
Irrigation	-	-	-	-	2,000.00	
Landscaping Maintenance & Material		46,475.00			13,500.00			59,975.00			40,000.00			44,400.00	
Hurricane Clean-Up		-			11,674.26			11,674.26			-			5,000.00	
Developer Reimbursement		-			-			-			-			15,750.00	
Total General & Administrative Expenses	$	114,236.71		$	44,058.59		$	158,295.30		$	126,525.00		$	177,200.00	

Total Expenses

  $	114,236.71 

  $	44,058.59 

  $	158,295.30 

   $ 126,525.00 

   $ 177,200.00 

Interest Income	$	124.90		$	41.63		$	166.53		$	-	$	300.00	
Total Other Income (Expense)	$	124.90		$	41.63		$	166.53		$	-	$	300.00	
Net Income (Loss)	$	613.94		$	(613.94)		$	-		$	-	$	-	

Income (Loss) from Operations Other Income (Expense)

$	489.04	$

(655.57)	$

(166.53)	$

-	$	(300.00)

Page 1 of 1

Lakeside Preserve Community Development District FY 2021 Proposed Debt Service Budget

	FY 2021	
	Proposed	
	DS Budget	
REVENUES:		
Series 2019	$	263,559.39	
TOTAL REVENUES	  $	263,559.39 	

EXPENDITURES:		
Series 2019 - Interest 11/1/2020	$	71,509.38	
Series 2019 - Interest 5/1/2021	71,509.38	
Series 2019 - Principal 5/1/2021	50,000.00	
TOTAL EXPENDITURES	  $	193,018.76 	

EXCESS REVENUES (Series 2019 - Interest 11/1/2021)	

  $	70,540.63 	

Page 1 of 1

Lakeside Preserve Community Development District

Special Assessments to Fund the District’s Fiscal Year 2020-2021 Budget

Lakeside Preserve Community Development District

Resolution 2020-10

RESOLUTION 2020-10

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT MAKING A DETERMINATION OF BENEFIT AND IMPOSING SPECIAL ASSESSMENTS FOR FISCAL YEAR 2020/2021; PROVIDING FOR THE COLLECTION AND ENFORCEMENT OF SPECIAL ASSESSMENTS, INCLUDING BUT NOT LIMITED TO PENALTIES AND INTEREST THEREON; CERTIFYING AN ASSESSMENT ROLL; PROVIDING FOR AMENDMENTS TO THE ASSESSMENT ROLL; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Lakeside Preserve Community Development District (“District”) is a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, for the purpose of providing, operating and maintaining infrastructure improvements, facilities and services to the lands within the District; and

WHEREAS, the District is located in Polk County, Florida (“County”); and

WHEREAS, the District has constructed or acquired various infrastructure improvements and provides certain services in accordance with the District’s adopted capital improvement plan and Chapter 190, Florida Statutes; and

WHEREAS, the Board of Supervisors (“Board”) of the District hereby determines to undertake various operations and maintenance and other activities described in the District’s budget (“Adopted Budget”) for the fiscal year beginning October 1, 2020 and ending September 30, 2021 (“Fiscal Year 2020/2021”), attached hereto as Exhibit “A;” and

WHEREAS, the District must obtain sufficient funds to provide for the operation and maintenance of the services and facilities provided by the District as described in the Adopted Budget; and

WHEREAS, the provision of such services, facilities, and operations is a benefit to lands within the District; and

WHEREAS, Chapter 190, Florida Statutes, provides that the District may impose special assessments on benefitted lands within the District; and

WHEREAS, it is in the best interests of the District to proceed with the imposition of the special assessments for operations and maintenance in the amount set forth in the Adopted Budget; and

WHEREAS, the District has previously levied an assessment for debt service, which the District desires to collect for Fiscal Year 2020/2021; and

WHEREAS, Chapter 197, Florida Statutes, provides a mechanism pursuant to which such special assessments may be placed on the tax roll and collected by the local tax collector (“Uniform Method”), and the District has previously authorized the use of the Uniform Method by, among other things, entering into agreements with the Property Appraiser and Tax Collector of the County for that purpose; and

WHEREAS, it is in the best interests of the District to adopt the assessment roll (“Assessment Roll”) attached to this Resolution as Exhibit “B,” and to certify the portion of the Assessment Roll related to certain developed property (“Tax Roll Property”) to the County Tax Collector pursuant to the Uniform Method and to directly collect the portion of the Assessment Roll relating to the remaining property (“Direct Collect Property”), all as set forth in Exhibit “B;” and

WHEREAS, it is in the best interests of the District to permit the District Manager to amend the Assessment Roll adopted herein, including that portion certified to the County Tax Collector by this Resolution, as the Property Appraiser updates the property roll for the County, for such time as authorized by Florida law.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. BENEFIT & ALLOCATION FINDINGS. The provision of the services, facilities, and operations as described in Exhibit “A” confers a special and peculiar benefit to the lands within the District, which benefit exceeds or equals the cost of the assessments. The allocation of the assessments to the specially benefitted lands is shown in Exhibits “A” and “B,” and is hereby found to be fair and reasonable.

SECTION 2. ASSESSMENT IMPOSITION. Pursuant to Chapters 170, 190 and 197, Florida Statutes, and using the procedures authorized by Florida law for the levy and collection of special assessments, a special assessment for operation and maintenance is hereby imposed and levied on benefitted lands within the District and in accordance with Exhibits “A” and “B.” The lien of the special assessments for operations and maintenance imposed and levied by this Resolution shall be effective upon passage of this Resolution.

SECTION 3.	COLLECTION AND ENFORCEMENT; PENALTIES; INTEREST.

Tax Roll Assessments. The operations and maintenance special assessments and previously levied debt service special assessments imposed on the Tax Roll Property shall be collected at the same time and in the same manner as County taxes in accordance with the Uniform Method, as set forth in Exhibits “A” and “B.”

Direct Bill Assessments. The operations and maintenance special assessments and previously levied debt service special assessments imposed on the Direct Collect Property shall be collected directly by the District in accordance with Florida law, as

set forth in Exhibits “A” and “B.” Assessments directly collected by the District are due in full on December 1, 2020; provided, however, that, to the extent permitted by law, the assessments due may be paid in several partial, deferred payments and according to the following schedule: 50% due no later than December 1, 2020, 25% due no later than February 1, 2021 and 25% due no later than May 1, 2021. In the event that an assessment payment is not made in accordance with the schedule stated above, the whole assessment – including any remaining partial, deferred payments for Fiscal Year 2020/2021, shall immediately become due and payable; shall accrue interest, penalties in the amount of one percent (1%) per month, and all costs of collection and enforcement; and shall either be enforced pursuant to a foreclosure action, or, at the District’s sole discretion, collected pursuant to the Uniform Method on a future tax bill, which amount may include penalties, interest, and costs of collection and enforcement. Any prejudgment interest on delinquent assessments shall accrue at the rate of any bonds secured by the assessments, or at the statutory prejudgment interest rate, as applicable. In the event an assessment subject to direct collection by the District shall be delinquent, the District Manager and District Counsel, without further authorization by the Board, may initiate foreclosure proceedings pursuant to Chapter 170, Florida Statutes, or other applicable law to collect and enforce the whole assessment, as set forth herein.

Future Collection Methods. The decision to collect special 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 special 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.

SECTION 4. ASSESSMENT ROLL. The Assessment Roll, attached to this  Resolution  as Exhibit “B,” is hereby certified for collection. That portion of the Assessment Roll which includes the Tax Roll Property is hereby certified to the County Tax Collector and shall be collected by the County Tax Collector in the same manner and time as County taxes. The proceeds therefrom shall be paid to the District.

SECTION 5.  ASSESSMENT ROLL AMENDMENT.  The District Manager shall keep apprised of  all updates made to the County property roll by the Property Appraiser after the date of this Resolution, and shall amend the Assessment Roll in accordance with any such updates, for such time as authorized by Florida law, to the County property roll. After any amendment of the Assessment Roll, the District Manager shall file the updates in the District records.

SECTION 6. SEVERABILITY. The invalidity or unenforceability of any one or  more  provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

SECTION 7. EFFECTIVE DATE. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board.

PASSED AND ADOPTED this 16th day of July, 2020.

ATTEST:	LAKESIDE PRESERVE COMMUNITY
DEVELOPMENT DISTRICT

Secretary / Assistant Secretary	Chairperson, Board of Supervisors

Exhibit A:	Budget
Exhibit B:	Assessment Roll (Uniform Method) Assessment Roll (Direct Collect)

Lakeside Preserve CDD
FY 2021 Proposed O&M Budget

Actual Through 06/30/2020

Year To Date

Anticipated July
- Sep.

Anticipated Total FY 2020

FY 2020
Adopted Budget

FY 2021
Proposed Budget

Revenues

Off-Roll Assessments	$	99,993.75		$	26,531.25		$	126,525.00		$ 126,525.00		$ 176,900.00	
Developer Contributions	14,732.00		16,871.77		31,603.77		-		-	
Net Revenues	$	114,725.75		$	43,403.02		$	158,128.77		$ 126,525.00		$ 176,900.00	

General & Administrative Expenses

Supervisor Fees	$	2,400.00	$	1,800.00	$	4,200.00	$	2,400.00	$	7,200.00	
D&O Insurance	2,306.00	-	2,306.00	2,475.00	2,500.00	
Trustee Services	1,683.60	1,500.00	3,183.60	6,000.00	6,000.00	
Management	15,000.03	4,999.97	20,000.00	20,000.00	25,000.00	
Engineering	600.00	200.00	800.00	5,000.00	5,000.00	
Dissemination Agent	5,000.00	-	5,000.00	5,000.00	5,000.00	
District Counsel	12,381.30	4,127.10	16,508.40	12,000.00	20,000.00	
Assessment Administration	7,500.00	-	7,500.00	7,500.00	7,500.00	
Reamortization Schedules	-	250.00	250.00	250.00	250.00	
Audit	3,500.00	1,500.00	5,000.00	5,000.00	5,000.00	
Travel and Per Diem	124.31	41.44	165.75	500.00	500.00	
Telephone	-	50.00	50.00	200.00	200.00	
Postage & Shipping	259.80	86.60	346.40	300.00	300.00	
Copies	-	125.00	125.00	500.00	500.00	
Legal Advertising	1,263.07	421.02	1,684.09	3,000.00	3,000.00	
Miscellaneous	5.50	1.83	7.33	2,500.00	2,500.00	
Web Site Maintenance	1,425.00	1,275.00	2,700.00	2,700.00	2,700.00	
Dues, Licenses, and Fees	175.00	-	175.00	175.00	175.00	
Electric	994.10	331.37	1,325.47	-	2,000.00	
Aquatic Contract	10,325.00	2,175.00	12,500.00	8,000.00	8,700.00	
General Insurance	2,819.00	-	2,819.00	3,025.00	3,025.00	
Property & Casualty Insurance	-	-	-	-	3,000.00	
Irrigation	-	-	-	-	2,000.00	
Landscaping Maintenance & Material		46,475.00			13,500.00			59,975.00			40,000.00			44,400.00	
Hurricane Clean-Up		-			11,674.26			11,674.26			-			5,000.00	
Developer Reimbursement		-			-			-			-			15,750.00	
Total General & Administrative Expenses	$	114,236.71		$	44,058.59		$	158,295.30		$	126,525.00		$	177,200.00	

Total Expenses

  $	114,236.71 

  $	44,058.59 

  $	158,295.30 

   $ 126,525.00 

   $ 177,200.00 

Interest Income	$	124.90		$	41.63		$	166.53		$	-	$	300.00	
Total Other Income (Expense)	$	124.90		$	41.63		$	166.53		$	-	$	300.00	
Net Income (Loss)	$	613.94		$	(613.94)		$	-		$	-	$	-	

Income (Loss) from Operations Other Income (Expense)

$	489.04	$

(655.57)	$

(166.53)	$

-	$	(300.00)

Page 1 of 1

Lakeside Preserve Community Development District FY 2021 Proposed Debt Service Budget

	FY 2021	
	Proposed	
	DS Budget	
REVENUES:		
Series 2019	$	263,559.39	
TOTAL REVENUES	  $	263,559.39 	

EXPENDITURES:		
Series 2019 - Interest 11/1/2020	$	71,509.38	
Series 2019 - Interest 5/1/2021	71,509.38	
Series 2019 - Principal 5/1/2021	50,000.00	
TOTAL EXPENDITURES	  $	193,018.76 	

EXCESS REVENUES (Series 2019 - Interest 11/1/2021)	

  $	70,540.63 	

Page 1 of 1

PARCEL ID	FY2021
Debt Service	FY2021
O&M	PY RATE	
232902000000013010	0.00	52,507.46	0.00	
232902000000013020	0.00	0.00	0.00	
232902000000014010	0.00	50,609.60	0.00	
232902000000023010	0.00	0.00	0.00	
232902000000024010	0.00	0.00	0.00	
232902000000031010	0.00	0.00	0.00	
232902000000031060	0.00	0.00	0.00	
232902000000031070	0.00	0.00	0.00	
232902000000033470	0.00	0.00	0.00	
232902000000041010	0.00	0.00	0.00	
232902139452001010	806.44	645.16	1,802.07	
232902139452001020	1,802.07	645.16	1,802.07	
232902139452001030	1,802.07	645.16	1,802.07	
232902139452001040	1,802.07	645.16	1,802.07	
232902139452001050	1,802.07	645.16	1,802.07	
232902139452001060	1,802.07	645.16	1,802.07	
232902139452001070	1,802.07	645.16	1,802.07	
232902139452001080	1,802.07	645.16	1,802.07	
232902139452001090	1,802.07	645.16	1,802.07	
232902139452001100	1,802.07	645.16	1,802.07	
232902139452001110	806.44	645.16	1,802.07	
232902139452001120	1,802.07	645.16	1,802.07	
232902139452001130	1,802.07	645.16	1,802.07	
232902139452001140	806.44	645.16	1,802.07	
232902139452001150	1,802.07	645.16	1,802.07	
232902139452001160	1,802.07	645.16	1,802.07	
232902139452001170	1,802.07	645.16	1,802.07	
232902139452001180	1,802.07	645.16	1,802.07	
232902139452001190	1,802.07	645.16	1,802.07	
232902139452001200		645.16	1,802.07	
	806.44			
232902139452001210	1,802.07	645.16	1,802.07	
232902139452001220	1,802.07	645.16	1,802.07	
232902139452001230	1,802.07	645.16	1,802.07	
232902139452001240	1,802.07	645.16	1,802.07	
232902139452001250	1,802.07	645.16	1,802.07	
232902139452001260	806.44	645.16	806.45	
232902139452001270	1,802.07	645.16	1,802.07	
232902139452001280	1,802.07	645.16	1,802.07	
232902139452001290	1,802.07	645.16	1,802.07	
232902139452001300	1,802.07	645.16	1,802.07	
232902139452001310	1,802.07	645.16	1,802.07	
lk C2o3un2t9y 0Pr2o1pe3r9ty4A5p2p0ra0is1er320		645.16	1,802.07	
nt Date: 5/29/2020 10:43 AM	806.44			
t M2o3di2fie9d0: 26/1139/92405192,0P0PA1\3\n3o0let	1,802.07	645.16	1,802.07	

LAKESIDE PRESERVE CDD

232902139452001340	1,802.07	645.16	1,802.07	
232902139452001350	1,802.07	645.16	1,802.07	
232902139452001360	
806.44	645.16	1,802.07	
232902139452001370	
806.44	645.16	1,802.07	
232902139452001380	
806.44	645.16	1,802.07	
232902139452001390	806.44	645.16	1,802.07	
232902139452001400	
806.44	645.16	1,802.07	
232902139452001410	
806.44	645.16	1,802.07	
232902139452001420	
806.44	645.16	1,802.07	
232902139452001430	
806.44	645.16	1,802.07	
232902139452001440	806.44	645.16	1,802.07	
232902139452001450	1,802.07	645.16	1,802.07	
232902139452001460	1,802.07	645.16	1,802.07	
232902139452001470	1,802.07	645.16	1,802.07	
232902139452001480	
806.44	645.16	1,802.07	
232902139452001490	1,802.07	645.16	1,802.07	
232902139452001500	
806.44	645.16	1,802.07	
232902139452001510	1,802.07	645.16	1,802.07	
232902139452001520	1,802.07	645.16	1,802.07	
232902139452001530	1,802.07	645.16	1,802.07	
232902139452001540	1,802.07	645.16	1,802.07	
232902139452001550	1,802.07	645.16	1,802.07	
232902139452001560	1,802.07	645.16	1,802.07	
232902139452001570	806.44	645.16	806.44	
232902139452001580	806.44	645.16	806.44	
232902139452001590	1,802.07	645.16	1,802.07	
232902139452001600	806.44	645.16	1,802.07	
232902139452001610	1,802.07	645.16	1,802.07	
232902139452001620	1,802.07	645.16	1,802.07	
232902139452001630	1,802.07	645.16	1,802.07	
232902139452001640	806.44	645.16	1,802.07	
232902139452001650	1,802.07	645.16	1,802.07	
232902139452001660	806.44	645.16	806.44	
232902139452001670	1,802.07	645.16	1,802.07	
232902139452001680	1,802.07	645.16	1,802.07	
232902139452001690	
806.44	645.16	1,802.07	
232902139452001700
lk County Property Appraiser	
806.44	645.16	1,802.07	
nt D2a3te2: 95/0229/123029041502:4030A1M710
t Modified: 6/19/2019, PPA\\nolet	
806.44	645.16	1,802.07	

232902139452002010	
806.44	645.16	1,802.07	
232902139452002020	806.44	645.16	1,802.07	
232902139452002030	
806.44	645.16	1,802.07	
232902139452002040	1,802.07	645.16	1,802.07	
232902139452002050	1,802.07	645.16	1,802.07	
232902139452002060	1,802.07	645.16	1,802.07	
232902139452002070	1,802.07	645.16	1,802.07	
232902139452002080	806.44	645.16	1,802.07	
232902139452002090	1,802.07	645.16	1,802.07	
232902139452002100	1,802.07	645.16	1,802.07	
232902139452002110	806.44	645.16	1,802.07	
232902139452002120	806.44	645.16	806.44	
232902139452002130	1,802.07	645.16	1,802.07	
232902139452002140	806.44	645.16	806.44	
232902139452002150	806.44	645.16	1,802.07	
232902139452002160	806.44	645.16	1,802.07	
232902139452002170	1,802.07	645.16	1,802.07	
232902139452002180	1,802.07	645.16	1,802.07	
232902139452002190	1,802.07	645.16	1,802.07	
232902139452002200	1,802.07	645.16	1,802.07	
232902139452002210	
806.44	645.16	1,802.07	
232902139452002220	1,802.07	645.16	1,802.07	
232902139452002230	806.44	645.16	1,802.07	
232902139452002240	1,802.07	645.16	1,802.07	
232902139452002250	1,802.07	645.16	1,802.07	
232902139452002260	1,802.07	645.16	1,802.07	
232902139452002270	
806.44	645.16	806.44	
232902139452002280	1,802.07	645.16	1,802.07	
232902139452002290	
806.44	645.16	1,802.07	
232902139452002300	1,802.07	645.16	1,802.07	
232902139452002310	1,802.07	645.16	1,802.07	
232902139452002320	1,802.07	645.16	1,802.07	
232902139452002330	1,802.07	645.16	1,802.07	
232902139452002340	1,802.07	645.16	1,802.07	
232902139452002350	1,802.07	645.16	1,802.07	
232902139452002360	1,802.07	645.16	1,802.07	
232902139452002370	
806.44	645.16	1,802.07	
232902139452002380	
806.44	645.16	1,802.07	
232902139452002390	
806.44	645.16	1,802.07	
lk C2o3un2t9y 0Pr2o1pe3r9ty4A5p2p0ra0is2er400
nt Date: 5/29/2020 10:43 AM	
806.44	645.16	1,802.07	

Po
Pri
Last Modified: 6/19/2019, PPA\\nolet

232902139452002410		645.16	1,802.07	
	806.44			
232902139452002420		645.16	1,802.07	
	806.44			
232902139452002430		645.16	1,802.07	
	806.44			
232902139452002440		645.16	1,802.07	
	806.44			
232902139452002450		645.16	1,802.07	
	806.44			
232902139452002460		645.16	1,802.07	
	806.44			
232902139452002470	806.44	645.16	1,802.07	
232902139452002480	806.44	645.16	806.44	
232902139452002490	806.44	645.16	1,802.07	
232902139452002500	806.44	645.16	1,802.07	
232902139452002510	806.44	645.16	806.44	
232902139452002520	806.44	645.16	806.44	
232902139452002530	806.44	645.16	806.44	
232902139452002540		645.16	1,802.07	
	806.44			
232902139452002550		645.16	1,802.07	
	806.44			
232902139452002560	806.44	645.16	1,802.07	
232902139452002570	806.44	645.16	806.44	
232902139452002580	806.44	645.16	806.44	
232902139452002590	806.44	645.16	806.44	
232902139452002600	806.44	645.16	806.44	
232902139452002610	806.44	645.16	806.44	
232902139452002620	806.44	645.16	0.00	
232902139452002630	806.44	645.16	1,802.07	
232902139452002640		645.16	1,802.07	
	806.44			
232902139452002650			0.00	
	0.00			
232902139452002660			0.00	
	0.00			
232902139452002670			0.00	
	0.00			
232902139452002680	0.00		0.00	
232902139452002690	0.00		0.00	
232902139452002700	0.00		0.00	
232902139452002710	0.00		0.00	
232903000000022010	0.00		0.00	
lk County Property Appraiser
nt Date: 5/29/2020 10:43 AM	$ 177,567.87	##########		
t Modified: 6/19/2019, PPA\\nolet	$ 12,429.75	$ 13,314.96		

Po Pri Las

$ 165,138.12	##########	

$ 147,525.00	##########	
$ 17,613.12	$	(1.30)	

Polk County Property Appraiser
Print Date: 5/29/2020 10:43 AM
Last Modified: 6/19/2019, PPA\\nolet

Lakeside Preserve Community Development District

Resolution 2020-11

RESOLUTION 2020-11

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT ACCEPTING THE CERTIFICATION OF THE DISTRICT ENGINEER THAT THE SERIES 2019 PROJECT IS COMPLETE; DECLARING THE SERIES 2019 PROJECT COMPLETE; FINALIZING THE SPECIAL ASSESSMENTS SECURING THE DISTRICT’S SERIES 2019 BONDS; PROVIDING FOR A SUPPLEMENT TO THE IMPROVEMENT LIEN BOOK; PROVIDING FOR SEVERABILITY, CONFLICTS, AND AN EFFECTIVE DATE.

WHEREAS, the Lakeside Preserve Community Development District (“District”) was established by Ordinance No. 5475 adopted on November 3, 2014, by the City Commission of the City of Lakeland, Florida (“City”), for the purpose of providing infrastructure improvements, facilities, and services to the lands within the District as provided in Chapter 190, Florida Statutes; and

WHEREAS, the Board of Supervisors (the “Board”) of the District adopted Resolution No. 2018-17 on January 5, 2018, authorizing the issuance of not to exceed
$23,000,000 in aggregate principal amount of its Special Assessment Bonds to finance all or a portion of the design, acquisition and construction costs of certain improvements pursuant to the Act;

WHEREAS, the District duly authorized and issued Lakeside Preserve Community Development District Special Assessment Bonds, Series 2019 (the “Series 2019 Bonds”), for the purpose of funding the construction, installation, and acquisition of public infrastructure, improvements, and services; and

WHEREAS, the Series 2019 Bonds financed a portion of the District’s master project infrastructure (the “Series 2019 Project”), as such is further identified and described in that certain Engineer’s Report, dated December 2017, which is attached to this Resolution as Exhibit A (the “Engineer’s Report”); and

WHEREAS, the Engineer’s Report estimates capital costs totaling $6,000,000 for the Series 2019 Project (the “Total Project Costs”); and

WHEREAS, pursuant to the terms of the Master Assessment Methodology Report, dated January 4, 2018, as supplemented by the Supplemental Assessment Methodology Report, Series 2019 Bonds, dated March 2019, attached to this Resolution as Composite Exhibit B (together, the “Assessment Methodology”), the estimated total costs of the Series 2019 Project to be funded by the sale of bonds and secured by assessments, inclusive of capital costs, financing costs, capitalized interest, reserve funds, original issue discounts, and contingencies totaled approximately $3,520,000; and

WHEREAS, on January 8, 2018 the Board adopted Resolution 2018-15, declaring that such Total Project Costs would be defrayed by the imposition of special assessments pursuant to Chapters 170 and 190, Florida Statutes, and that such special assessments would be paid in annual installments commencing in the year in which the special assessments were confirmed; and

WHEREAS, on February 8, 2018, the Board, after notice and public hearing, met as an Equalizing Board pursuant to the provision of Section 170.08, Florida Statutes, and adopted Resolution 2018-18, as supplemented by Resolution 2019-03, adopted on April 11, 2019, authorizing the projects described therein, equalizing and levying special assessments to defray all or a portion of the Total Project Costs and providing that this levy shall be a lien on the property so assessed co-equal with the lien of all state, county, district, municipal or other governmental taxes, all in accordance with Section 170.08, Florida Statutes; and

WHEREAS, the Series 2019 Project specially benefits the developable acreage in the District as set forth in Resolution 2018-18 and the Assessment Methodology, and it is reasonable, proper, just and right to assess the portion of the costs of the Series 2019 Project financed with the Series 2019 Bonds to the specially benefitted properties within the District as set forth in Resolution 2018-18 and this Resolution; and

WHEREAS, pursuant to Chapter 170, Florida Statutes, and the Master Trust Indenture dated April 1, 2019 (the “Master Indenture”), as supplemented by that First Supplemental Trust Indenture dated April 1, 2019 (the “First Supplemental Indenture” and, together with the Master Indenture, the “Indenture”) both by and between the District and U.S. Bank National Association, as Trustee, the District Engineer executed and delivered a Certificate of Completion of the Series 2019 Project dated July 8, 2020, (the “Engineer’s Certification”) attached hereto as Exhibit C, wherein the District Engineer certified the Series 2019 Project to be complete; and

WHEREAS, upon receipt of and in reliance upon the Engineer’s Certification evidencing the completion date of the Series 2019 Project as described above, the Board desires to certify the Series 2019 Project complete in accordance with the Indenture; and

WHEREAS, the actual costs incurred to complete the Series 2019 Project exceeded all amounts on deposit in the Series 2019 Acquisition and Construction Account within the Acquisition and Construction Fund. The remaining balance of Seven Hundred Sixty- Three Dollars and Four Cents ($763.04) in the Series 2019 Acquisition and Construction Account, is hereby reserved by the District for the payment of any remaining part of the Costs related to the Series 2019 Project.

NOW, THEREFORE, be it resolved by the Board of Supervisors of the Lakeside Preserve Community Development District:

SECTION 1. RECITALS. The recitals so stated are true and correct and by this reference are incorporated into and form a material part of this Resolution.

SECTION 2. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted pursuant to Chapters 170 and 190, Florida Statutes, and in accordance with the provisions of Resolution 2018-18, as supplemented.

SECTION 3. ACCEPTANCE AND CERTIFICATION OF COMPLETION OF THE SERIES
2019 PROJECT. The Board of Supervisors hereby accepts the Engineer’s Certification, attached hereto as Exhibit C, certifying the Series 2019 Project complete and upon reliance thereon, certifies the Series 2019 Project complete in accordance with Resolution 2018-18 and the Indenture. The Completion Date, as that term is defined in the  Indenture, for the Series 2019 Project shall be the date of the Engineer’s Certification.

SECTION 4. FINALIZATION OF SPECIAL ASSESSMENTS SECURING SERIES 2019
BONDS. Pursuant to Section 170.08, Florida Statutes, and Resolution 2018-18, special assessments securing the Series 2019 Bonds are to be credited the difference in the assessment as originally made, approved, and confirmed and the proportionate part of the total actual costs of the Series 2019 Project. The remaining balance of Seven Hundred Sixty-Three Dollars and Four Cents ($763.04) in the Series 2019 Acquisition and Construction Account, is hereby reserved by the District for the payment of any remaining part of the Cost of the Series 2019 Project. Exhibit D attached hereto and incorporated herein by this reference reflects the amortization schedule of the Series 2019 Bonds after the closing of the Series 2019 Acquisition and Construction Account within the Series 2019 Acquisition and Construction Fund. As provided in Resolution 2018-18, the assessments levied reflect the outstanding debt due on the Series 2019 Bonds. Pursuant to Section 170.08, Florida Statutes, and Resolution 2018-18, the special assessments on parcels specially benefitted by the Series 2019 Project are hereby finalized in accordance with the Assessment Methodology, attached hereto as Composite Exhibit B, which reflects the assessments on the parcels benefitted by the Series 2019 Bonds.

SECTION 5. IMPROVEMENT LIEN BOOK. Immediately following the adoption of this Resolution, these special assessments as reflected herein shall be recorded by the Secretary of the Board of the District in the District’s “Improvement Lien Book.” The special assessment or assessments against each respective parcel shall be and shall remain a legal, valid and binding first lien on such parcel until paid and such lien shall be co- equal with the lien of all state, county, district, municipal or other governmental taxes and superior in dignity to all other liens, titles, and claims.

SECTION  6.	OTHER   PROVISIONS   REMAIN IN  EFFECT.	This Resolution is
intended to supplement Resolution 2018-18, which remains in full force and effect. This Resolution and Resolution 2018-18 shall be construed to the maximum extent possible to give full force and effect to the provisions of each resolution.

SECTION 7. SEVERABILITY. If any section or part of a section of this resolution  be 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.

SECTION 8. CONFLICTS. All resolutions or parts thereof in conflict herewith are, to the extent of such conflict, superseded and repealed.

SECTION 9. EFFECTIVE DATE. This Resolution shall become effective upon its adoption.

[Remainder of page intentionally left blank]

APPROVED AND ADOPTED this 16th day of July, 2020.

ATTEST:	LAKESIDE PRESERVE
COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

Exhibit A:	Engineer’s Report, dated December 2017
Comp. Exhibit B:	Master Assessment Methodology Report, dated January 4, 2018, as supplemented by the Supplemental Assessment Methodology Report, Series 2019 Bonds, dated March 2019
Exhibit C:	Engineer’s Certification, dated July 8, 2020
Exhibit D:	Amortization Schedule of the Series 2019 Bonds

EXHIBIT A

Engineer’s Report, dated December 2017

COMPOSITE EXHIBIT B

Master Assessment Methodology Report, dated January 4, 2018, as supplemented by the
Supplemental Assessment Methodology Report, Series 2019 Bonds, dated March 2019

EXHIBIT C

Engineer’s Certification, dated July 8, 2020

EXHIBIT D

Amortization Schedule of the Series 2019 Bonds

LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT

DISTRICT ENGINEER'S CERTIFICATE OF COMPLETION OF THE SERIES 2019 PROJECT

July 8, 2020

Lakeside Preserve Community Development District c/o PFM Group Consulting LLC
12051 Corporate Boulevard
Orlando, Florida 32817

Re:	Certification of Completion
Lakeside Preserve Community Development District Series 2019 Bonds- Series 2019 Project

This certificate is furnished in accordance with Section 5.01(c) of the  Master Trust Indenture dated April 1, 2019 (the "Master Indenture"), between the Lakeside Preserve Community Development District (the "District" or "Issuer") and U.S. Bank National Association (the "Trustee") and is intended to evidence the completion of the Series 2019 Project, as both terms are defined in the Master Indenture, as supplemented by that certain First Supplemental Trust Indenture dated April 1, 2019 (together with the Master Indenture, the "Indenture"), and as further described in that certain Engineer's Report, dated December 2017 and undertaken by the District. All capitalized terms used herein shall have the meaning ascribed to them in the Indenture.
The Series 2019 Project has been completed in substantial compliance with the specifications therefore and all labor, services, materials, and supplies used in the Series 2019 Project have been paid for and acknowledgments of such payments have been obtained from all contractors and suppliers.

All other facilities necessary in connection with the Series 2019 Project have been constructed, acquired, and installed in accordance with the  specifications therefore and all costs and expenses incurred in connection therewith ("Cost") have been paid or adequate provision has been made for such payment by the District.

All plans, permits and specification necessary f r  the operation and maintenance of the improvements made pursuant to the Series 2019 Project are complete and on file with the District Engineer or have been transferred to the appropriate governmental entity having charge of such operation and maintenance.

The remaining balance of Seven Hundred Sixty-Three Dollars and Four Cents ($763.04) in the Series 2019 Acquisition and Construction Account, is hereby reserved by the Issuer for the payment of any remaining part of the Cost of the Series 2019 Project. The total Cost of the Series 2019 Project was greater than the

Lakeside Preserve Community Development District

PFM Fee Increase Letter

July 10, 2020

Mr. Saunders
Chairman of the Board of Supervisors
Lakeside Preserve Community Developement District 12051 Corporate Boulevard
Orlando, FL 32817 Dear Mr. Saunders:

12051 Corporate Blvd.
Orlando, FL 32817
407.723.5900

pfm.com

Thank you for the opportunity to continue serving as District Manager to the Lakeside
Preserve Community Development District (the ”District”). The agreement in place between our firm and the District dated February 14, 2019 provides for the review and adjustment annually of our fees pursuant to the District’s annual budget process. We are respectfully requesting a fee increase from $20,000 to $25,000 for the year.

Please note this change will be effective on the billing for October 2020, in conjunction with the District’s new Fiscal Year.

Provided the changes are acceptable, please have an authorized official of the District sign and return a copy of this letter to us to acknowledge the increase.

Sincerely,
PFM GROUP CONSULTING LLC

Accepted by:

 	_ 	_ Senior Managing Consultant

(Signature)

(Print Name)

(Date)

Lakeside Preserve Community Development District

Agreement between the District and VGlobalTech for Website Services

Website Maintenance Proposal For

Lakeside Preserve CDD

Date	Version#	Comments	Author	
May 13, 2020	1.0	Created Proposal	VB Joshi	

VGlobalTech is the ADA, WCAG Compliance Expert and leading Web design company, with over 300 ADA & WCAG compliant websites created (….and counting) to-date! We have partnered with a non-profit agency to conduct Human Audit and Certification Seal.
Visit https://vglobaltech.com/website-compliance/ for details.

COPYRIGHT ©: This proposal and the contents within this document are solely created by VGlobalTech team for its customers and cannot be reproduced, copied, modified or distributed (including forwarding to other customers, competitors, web designers etc.) without the written consent of VGlobalTech. VGlobalTech company holds Intellectual Property* details along with company software details that must not be shared with others without the written permission of the company. The proposal and software details are customized for the requesting customer and cannot be applied to any other customer / asset / solution. This document does not apply to a case if it is not exclusively sent to you by VGlobalTech upon request.
Any violations are punishable under the law and shall be prosecuted.

* VGlobalTech has developed unique ADA and WCAG compliance expertise, optimized website templates, compliance multi-step procedure and quality control, document conversion software
and test procedures. Contact us for details of VGlobalTech’s Intellectual Property.

Table of Contents
Pricing	4
Monthly Maintenance, Hosting and Email Support	4
2.0	Proposal Acceptance:	6

Pricing
Monthly Maintenance, Hosting and Email Support

Maintenance contract is required for VGlobalTech’s proprietary document conversion software (PDF to RTF) to be used that allows faster, accurate and batch processing for document conversion.

	Task	
1.	Full content upload support to regularly keep site updated (includes all documents, audit reports, agendas, meeting minutes, events etc). Update turnaround time – less than 24 hrs from customer sending the content and documents to be updated to VGT team.	
2.	PDF Documents conversion (to Text, HTML etc) as needed (new documents during the maintenance year only) for ADA Compliance / Reader Compliance. VGlobalTech’s proprietary batch conversion software shall be used by our team for faster batch-conversion processing as long as the contract is valid (big time saver that creates compliant documents that can be uploaded to the website). If Auto conversion fails, VGlobalTech team shall perform manual OCR and conversion within 24 hrs.	
3.	Email accounts setup and support	
	
Total Monthly Maintenance with full content upload, document conversion:
$125 / month

*support beyond 10 hrs. / month / CDD shall be billed at $55 / hr. separately (VGlobalTech team shall be responsible to track and report hours exceeded, if any)
***Monthly maintenance must be paid before the 10th of every month	

This proposal includes following points, stipulations terms and conditions:
*(1) conference call or in person meetings per month with client to review metrics, results and monthly recaps *unless otherwise noted
* email and phone communication
*Anything out of the scope of work in the above proposal will be addressed and client will be immediately notified. After notification of additional work, a subsequent quote will be provided to cover that work.
*Client is responsible to adhering to timelines as far as information required to complete the task is concerned. If timelines are not adhered to and exceed 15 business days past the current marketing months, last day, all work will end. A new month with new allocated costs will be presented for future work to commence. No refunds and owed work will be due unless otherwise agreed upon. An Invoice will be provided once signature approval of this project proposal. Payments will be made to VGLOBALTECH
*Client is responsible for verifying quality of work, providing feedback, verifying that compliance has been met as required. VGlobalTech team shall not be responsible for any legal ramifications arising from work not done as per external agencies / organizations / associations needs if proper feedback is not provided by the customer. VGlobalTech’s work will be in best faith but cannot guarantee all compliance / legal needs since we are not the final authority in the ADA or WCAG compliance area. VGlobalTech shall not be liable for any legal ramifications arising from compliance issues and cannot be held responsible for any legal or other lawsuits.
Refund Policy: The client may halt work and request for a refund within seven days of the date of signing this services agreement by mailing a signed letter to the main address listed on www.VGlobalTech.com website. If client requests a refund within seven days of the date of signing their agreement, they shall be liable to pay for all work completed and will be refunded the remaining balance of the initial payment if billable work has not exceeded a charge that would be greater than client’s initial payment. If client requests a refund after the seven days from the date of the signing of the agreement client is liable to pay for all work completed plus an additional 25% of any remaining balance that may still be due. Once line item projects are complete no refunds will be issued. Confidentiality: All information between client and service provider inclusive of technical and business information relating to proprietary ideas, patentable ideas and/or trade secrets, existing and/or contemplated products and services, research and development, production, costs, profit and margin information, finances and financial projections, customers, clients, marketing, and current or future business plans and models, regardless of whether such information is designated as “Confidential Information” at the time of its disclosure and will be treated as such and with absolute confidentiality and will
not be shared or used, which will be maintained at all times. The client is not allowed to disclose their price with any third parties. Doing so is in breach of this agreement. All information development will be shared and proprietary information and property between client and service providers.

Proposal Acceptance:

The VGlobalTech proposed solution and terms have been accepted by the customer and the VGlobalTech can proceed with the project. All payments shall be made according to this agreement.

Website, Monthly Maintenance w/ Hosting and Email support

Signatures:

For Customer	Date

VB Joshi

For VGlobalTech	Date

Lakeside Preserve Community Development District

FY 2019 Audit Report

LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT
POLK COUNTY, FLORIDA FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019

LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT POLK COUNTY, FLORIDA

TABLE OF CONTENTS

	    Page		
INDEPENDENT AUDITOR’S REPORT	1-2	
MANAGEMENT’S DISCUSSION AND ANALYSIS	3-6	
BASIC FINANCIAL STATEMENTS		
Government-Wide Financial Statements:		
Statement of Net Position	7	
Statement of Activities	8	
Fund Financial Statements:		
Balance Sheet – Governmental Funds	9	
Reconciliation of the Balance Sheet – Governmental Funds
to the Statement of Net Position	
10	
Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Fund	
11	
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities	
12	
Notes to Financial Statements	13-20	
REQUIRED SUPPLEMENTARY INFORMATION		
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – General Fund	
21	
Notes to Required Supplementary Information	22	
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS	

23-24	
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10)
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	

25	
MANAGEMENT LETTER REQUIRED BY CHAPTER 10.550 OF THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	
26-27	

INDEPENDENT AUDITOR’S REPORT

To the Board of Supervisors
Lakeside Preserve Community Development District Polk County, Florida

951 Yamato Road ▪ Suite 280 Boca Raton, Florida  33431 (561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities and each major fund of Lakeside Preserve Community Development District, Polk County, Florida (the “District”) as of and for the fiscal year ended September 30, 2019, which collectively comprise the District’s basic financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the District as of September 30, 2019, and the respective changes in financial position thereof for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.

Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis and budgetary comparison information be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated June 24, 2020, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control over financial reporting and compliance.

June 24, 2020

MANAGEMENT’S DISCUSSION AND ANLAYSIS

Our discussion and analysis of Lakeside Preserve Community Development District, Polk County, Florida (“District”) provides a narrative overview of the District’s financial activities for the fiscal year ended September 30, 2019. Please read it in conjunction with the District’s Independent Auditor’s Report, basic financial statements, accompanying notes and supplementary information to the basic financial statements.

FINANCIAL HIGHLIGHTS

The liabilities of the District exceeded its assets at the close of the most recent fiscal year resulting in a net position deficit balance of ($1,090,285).

The change in the District’s total net position in comparison with the prior year was ($1,097,587), a decrease. The key components of the District’s net position and change in net position are reflected in the table in the government-wide financial analysis section.

At September 30, 2019, the District’s governmental funds reported combined ending fund balances of $493,135, an increase of $485,833 in comparison with the prior fiscal year. The total fund balance is restricted for debt service and capital projects, and the remainder is unassigned fund balance which is available for spending at the District’s discretion.

OVERVIEW OF FINANCIAL STATEMENTS

This discussion and analysis are intended to serve as the introduction to the District’s basic financial statements. The District’s basic financial statements are comprised of three components: 1) government- wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.

Government-Wide Financial Statements

The government-wide financial statements are designed to provide readers with a broad overview of the District’s finances, in a manner similar to a private-sector business.

The statement of net position presents information on all the District’s assets and liabilities, with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.

The statement of activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows.  Thus, revenues  and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods.

The government-wide financial statements include all governmental activities that are principally supported by assessments and Developer contributions. The District does not have any business-type activities. The governmental activities of the District include the general government (management) and maintenance functions.

Fund Financial Statements

A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The District maintains only one category of funds, the governmental funds.

OVERVIEW OF FINANCIAL STATEMENTS (Continued)

Governmental Funds

Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflow of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a District’s near-term financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the District’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The District maintains three governmental funds for external reporting. Information is presented separately in the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances for the general fund, debt service fund, and capital projects fund, all of which are considered major funds.

The District adopts an annual appropriated budget for its general fund. A budgetary comparison schedule has been provided for the general fund to demonstrate compliance with the budget.

Notes to the Financial Statements

The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements.

GOVERNMENT-WIDE FINANCIAL ANALYSIS

As noted earlier, net position may serve over time as a useful indicator of an entity’s financial position. In the case of the District, liabilities exceeded assets at the close of the fiscal year ended September 30, 2019.

Key components of the District’s net position are reflected in the following table:

NET POSITION SEPTEMBER 30,
2019	2018
Current and other assets	$	501,242	$	7,611	
Capital assets, net of depreciation	1,993,580	-	
Total assets	2,494,822	7,611	
Current liabilities	78,279	309	
Long-term liabilities	3,506,828	-	
Total liabilities	3,585,107	309	
Net position			
Net investment in capital assets	(1,502,336)	-	
Restricted	409,249	-	
Unrestricted	2,802	7,302	
Total net position	$ (1,090,285)	$	7,302	

GOVERNMENT-WIDE FINANCIAL ANALYSIS (Continued)

The District’s net position reflects its investment in capital assets (e.g. land, land improvements, and infrastructure); less any related debt used to acquire those assets that is still outstanding. These assets are used to provide services to residents; consequently, these assets are not available for future spending. Although the District’s investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.

The District’s net position decreased during the most recent fiscal year. The majority of the decrease represents the extent to which the cost of operations exceeded ongoing program revenues.

Key elements of the change in net position are reflected in the following table:

CHANGES IN NET POSITION
FOR THE FISCAL YEAR ENDED SEPTEMBER 30,
2019	2018

Revenues:
Program revenues
Charges for services	$	251,229	$	-	
Operating grants and contributions	62,210	50,275	
Capital grants and contributions	243,230	-	
General revenues
Unrestricted investment earnings	
-	
364	
Total revenues	556,669	50,639	
Expenses:			
General government	59,543	43,337	
Maintenance and operations	725	-	
Conveyance of infrastructure	1,251,294		
Interest on long-term debt	77,643	-	
Bond issuance costs	265,051	-	
Total expenses	1,654,256	43,337	
Change in net position	(1,097,587)	7,302	
Net position - beginning	7,302	-	
Net position - ending	$ (1,090,285)	$	7,302	

As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year ended September 30, 2019 was $1,654,256. The costs of the District’s activities were primarily funded by program revenues and the issuance of new debt. Program revenues, comprised primarily of Developer contributions and prepaid assessments, increased during the fiscal year. In total, expenses increased from the prior fiscal year, the majority of the increase was the result of bond issuance costs and the conveyance of infrastructure during the current fiscal year.

GENERAL BUDGETING HIGHLIGHTS

An operating budget was adopted and maintained by the governing board for the District pursuant to the requirements of Florida Statutes. The budget is adopted using the same basis of accounting that is used in preparation of the fund financial statements. The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. The general fund budget for the fiscal year ended September 30, 2019 was amended to decrease revenues and appropriations by ($80,231). Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2019.

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets

At September 30, 2019, the District had $1,993,580 invested in capital assets for its governmental activities. No depreciation has been taken as of fiscal year end. More detailed information about the District’s capital assets is presented in the notes of the financial statements.

Capital Debt

At September 30, 2019, the District had $3,520,000 in Bonds outstanding. More detailed information about the District’s capital debt is presented in the notes of the financial statements.

ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND OTHER EVENTS

It is anticipated that the general operations of the District will increase for the subsequent fiscal year. CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT
This financial report is designed to provide our citizens, land owners, customers, investors and creditors with a general overview of the District’s finances and to demonstrate the District’s accountability for the financial resources it manages and the stewardship of the facilities it maintains. If you have questions about this report or need additional financial information, contact Lakeside Preserve Community Development District’s Finance department at 12051 Corporate Boulevard, Orlando, FL 32817.

LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT POLK COUNTY, FLORIDA
STATEMENT OF NET POSITION SEPTEMBER 30, 2019

	Governmental
 	Activities		
ASSETS		
Cash	$	641	
Due from Developer	10,268	
Interest receivable	414	
Restricted assets:		
Investments	489,919	
Capital assets:		
Depreciable, net	 	1,993,580 	
Total assets	 	2,494,822 	
LIABILITIES		
Accounts payable	8,107	
Accrued interest payable	70,172	
Non-current liabilities:		
Due within one year	55,000	
Due in more than one year	 	3,451,828 	
Total liabilities	 	3,585,107 	
NET POSITION		
Net investment in capital assets	(1,502,336)	
Restricted for debt service	409,249	
Unrestricted	 	2,802 	
Total net position	  $	(1,090,285)	

See notes to the financial statements

LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT POLK COUNTY, FLORIDA
STATEMENT OF ACTIVITIES FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019

Charges for

Program Revenues Operating Grants and

Capital Grants and

Net (Expense) Revenue and Changes in Net Position

Governmental

Functions/Programs	 	Expenses	Services	Contributions	Contributions	Activities	 Primary government:
Governmental activities:
General government	$	59,543	$	-	$	60,268	$	241,066	$	241,791	
Maintenance and operations	725	-	-	-	(725)	
Conveyance of infrastructure	1,251,294	-	-	-	(1,251,294)	
Interest on long-term debt	77,643	251,229	1,942	2,164	177,692	
Bond issuance costs	 		265,051		-		-		-		(265,051) Total governmental activities	 	1,654,256	251,229	62,210	243,230	(1,097,587)

Change in net position	(1,097,587)	
Net position - beginning	 	7,302 	
Net position - ending	  $	(1,090,285)	

See notes to the financial statements

LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT POLK COUNTY, FLORIDA
BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2019

 	Major Funds	
Debt		Capital General	Service	Projects

Total Governmental Funds

ASSETS		
Cash	$	641	$	-	$	-	$	641	
Investments	-	479,021	10,898	489,919	
Due from Developer	10,268	-	-	10,268	
Interest receivable	-	400	14	414	
Total assets	$	10,909	$	479,421	$	10,912	$	501,242	

LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable	$	8,107	$	-	$	-	$	8,107	
Total liabilities	8,107	-	-	8,107	

Fund balances:
Restricted for:		
Debt service	-	479,421	-	479,421	
Capital projects	-	-	10,912	10,912	
Unassigned	2,802	-	-	2,802	
Total fund balances	2,802	479,421	10,912	493,135	

Total liabilities and fund balances	
$	10,909	
$	479,421	
$	10,912	
$	501,242	

See notes to the financial statements

LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT POLK COUNTY, FLORIDA
RECONCILIATION OF THE BALANCE SHEET – GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION
SEPTEMBER 30, 2019

Fund balance - governmental funds	$	493,135
Amounts reported for governmental activities in the statement of net position are different because:

Capital assets used in  governmental  activities  are  not financial resources and, therefore,  are  not reported  as assets in the governmental funds. The statement of net position includes those capital assets, net of any accumulated depreciation, in the net position of  the  government  as  a whole.
Cost  of capital assets	1,993,580
Accumulated depreciation	 	-	1,993,580

Liabilities not due and payable  from  current  available resources are not reported as liabilities in the  governmental fund statements. All  liabilities,  both  current  and  long-term, are reported in the government-wide financial statements.
Accrued interest payable	(70,172)	
Discount on bonds	13,172	
Bonds payable	 	(3,520,000)	(3,577,000) 	
Net position of governmental activities	$	(1,090,285)	

See notes to the financial statements

LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT POLK COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019

 	Major Funds	
Debt	Capital
General	Service	Projects

Total Governmental Funds

REVENUES		
Assessments	$	-	$	251,229	$	-	$	251,229	
Developer contributions	60,268	-	-	60,268	
Interest	-	1,942	2,164	4,106	
Total revenues	60,268	253,171	2,164	315,603	

EXPENDITURES
Current:
General government	59,543	-	-	59,543	
Maintenance and operations	725	-	-	725	
Debt service:					
Interest	-	7,017	-	7,017	
Bond issuance costs	-	-	265,051	265,051	
Capital outlay	-	-	3,003,808	3,003,808	
Total expenditures	60,268	7,017	3,268,859	3,336,144	

Excess (deficiency) of revenues

Transfers in	-	-	4,500	4,500	
Transfers out	(4,500)	-	-	(4,500)	
Bond discount	-	-	(13,626)	(13,626)	
Bond proceeds	-	233,267	3,286,733	3,520,000	
Total other financing sources (uses)	(4,500)	233,267	3,277,607	3,506,374	

Net change in fund balances	
(4,500)	
479,421	
10,912	
485,833	
Fund balances - beginning	7,302	-	-	7,302	

Fund balances - ending	
$	2,802	
$	479,421	
$	10,912	
$	493,135	

over (under) expenditures	-	246,154	(3,266,695)	(3,020,541) OTHER FINANCING SOURCES (USES)

See notes to the financial statements

LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT POLK COUNTY, FLORIDA
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019

are different because:		
Governmental funds report capital outlays as expenditures; however, in the statement of activities, the cost of those assets is eliminated and is capitalized in the statement of net position as capital assets.	

3,003,808	
Governmental funds report the face amount of Bonds issued  as financial resources when debt is first issued, whereas these amounts are eliminated in the statement of activities and recognized as long- term liabilities in the statement of net position.	

(3,520,000)	
The statement of activities reports noncash contributions as revenues, but these revenues are not reported in the governmental fund financial statements.	

241,066	
Conveyances of infrastructure improvements to other governments of previously capitalized capital assets is recorded as an expense in the statement of activities.	

(1,251,294)	
Amortization of Bond discounts/premiums is not recognized in the governmental fund financial statements, but is reported as an expense in the statement of activities.	

(454)	
In connection with the issuance of the Bonds, the original issue discount/premium is reported as a financing use/source when debt is first issued, whereas this amount is eliminated in the statement of activities and reduces/increases long-term liabilities in the statement of net position.	

13,626	
The change in accrued interest on long-term liabilities between the current and prior fiscal years is recorded in the statement of activities, but not in the governmental fund financial statements.	

 	(70,172)	
Change in net position of governmental activities	$ (1,097,587)	

Net change in fund balances - total governmental funds	$	485,833 Amounts reported for governmental activities in the statement of activities

See notes to the financial statements

LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT POLK COUNTY, FLORIDA
NOTES TO FINANCIAL STATEMENTS NOTE 1 – NATURE OF ORGANIZATION AND REPORTING ENTITY
Lakeside Preserve Community Development District ("District") was established on November 3, 2014. The District was created by ordinance number 14-050 of the City of Lakeland, Florida, pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes. The Act provides among other things, the power to manage basic services for community development, the power to borrow money and issue bonds, and to levy and assess non-ad valorem assessments for the financing and delivery of capital infrastructure.

The District was established for the purpose of financing and managing the acquisition, construction, maintenance and operation of a portion of the infrastructure necessary for community development within the District.

The District is governed by the Board of Supervisors ("Board"), which is composed of five members. The Supervisors are elected by the owners of the property within the District. The Board of Supervisors of the District exercise all powers granted to the District pursuant to Chapter 190, Florida Statutes. At September 30, 2019, certain supervisors are affiliated with Pipkin Creek Properties, LLC (the “Developer”).

The Board has the responsibility for:
Assessing and levying assessments.
Approving budgets.
Exercising control over facilities and properties.
Controlling the use of funds generated by the District.
Approving the hiring and firing of key personnel.
Financing improvements.

The financial statements were prepared in accordance with Governmental Accounting Standards Board (“GASB”) Statements. Under the provisions of those standards, the financial reporting entity consists of the primary government, organizations for which the District is considered to be financially accountable, and other organizations for which the nature and significance of their relationship with the District are such that, if excluded, the financial statements of the District would be considered incomplete or misleading. There are no entities considered to be component units of the District; therefore, the financial statements include only the operations of the District.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Government-Wide and Fund Financial Statements
The basic financial statements include both government-wide and fund financial statements.

The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements.

The statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers who purchase, use or directly benefit from goods, services or privileges provided by a given function or segment; (Operating- type special assessments for maintenance and debt service are treated as charges for services.) and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Other items not included among program revenues are reported instead as general revenues.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Measurement Focus, Basis of Accounting and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Assessments are recognized as revenues in the year for which they are levied. Grants and similar items are to be recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures are recorded only when payment is due.

The District reports the following major governmental funds:

General Fund
The general fund is the general operating fund of the District. It is used to account for all financial resources except those required to be accounted for in another fund.

Debt Service Fund
The debt service fund is used to account for the accumulation of resources for the annual payment of principal and interest on long-term debt.

Capital Projects Fund
This fund accounts for the financial resources to be used for the acquisition or construction of major infrastructure within the District.

As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements.

When both restricted and unrestricted resources are available for use, it is the government’s policy to use restricted resources first for qualifying expenditures, then unrestricted resources as they are needed.

Assets, Liabilities and Net Position or Equity

Restricted Assets
Restricted assets represent cash and investments set aside pursuant to Bond covenants or other contractual restrictions.

Deposits and Investments
The District’s cash and cash equivalents are considered to be cash on hand and demand deposits.

The District has elected to proceed under the Alternative Investment Guidelines as set forth in Section
218.415 (17) Florida Statutes. The District may invest any surplus public funds in the following:

The Local Government Surplus Trust Funds, or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act;
Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency;
Interest bearing time deposits or savings accounts in qualified public depositories;
Direct obligations of the U.S. Treasury.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity (Continued)

Deposits and Investments (Continued)
Securities listed in paragraph c and d shall be invested to provide sufficient liquidity to pay obligations as they come due. In addition, surplus funds may be deposited into certificates of deposit which are insured and any unspent Bond proceeds are required to be held in investments as specified in the Bond Indenture.

The District records all interest revenue related to investment activities in the respective funds. Investments are measured at amortized cost or reported at fair value as required by generally accepted accounting principles.

Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements.

Capital Assets
Capital assets, which include property, plant and equipment, and infrastructure assets (e.g., roads, sidewalks and similar items) are reported in the government activities columns in the government-wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than $5,000 (amount not rounded) and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the date of donation.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed.

Property, plant and equipment of the District are depreciated using the straight-line method over the following estimated useful lives:

Assets	Years	
Infrastructure – stormwater system	25	

In the governmental fund financial statements, amounts incurred for the acquisition of capital assets are reported as fund expenditures. Depreciation expense is not reported in the governmental fund financial statements.
No depreciation has been taken in the current fiscal year. Unearned Revenue
Governmental funds report unearned revenue in connection with resources that have been received, but not yet earned.

Long-Term Obligations
In the government-wide financial statements long-term debt and other long-term obligations are reported as liabilities in the statement of net position. Bond premiums and discounts are deferred and amortized over the life of the Bonds. Bonds payable are reported net of applicable premiums or discounts. Bond issuance costs are expensed when incurred.

In the fund financial statements, governmental fund types recognize premiums and discounts, as well as issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity (Continued)

Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of  resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then.

In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.

Fund Equity/Net Position
In the fund financial statements, governmental funds report non spendable and restricted fund balance for amounts that are not available for appropriation or are legally restricted by outside parties for use for a specific purpose. Assignments of fund balance represent tentative management plans that are subject to change.

The District can establish limitations on the use of fund balance as follows:

Committed fund balance – Amounts that can be used only for the specific purposes determined by a formal action (resolution) of the Board of Supervisors. Commitments may be changed or lifted only by the Board of Supervisors taking the same formal action (resolution) that imposed the constraint originally. Resources accumulated pursuant to stabilization arrangements sometimes are reported in this category.

Assigned fund balance – Includes spendable fund balance amounts that are intended to be used for specific purposes that are neither considered restricted nor committed. The Board may also assign fund balance as it does when appropriating fund balance to cover differences in estimated revenue and appropriations in the subsequent year’s appropriated budget. Assignments are generally temporary and normally the same formal action need not be taken to remove the assignment. The District first uses committed fund balance, followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the  unrestricted fund balance classifications could be used.

Net position is the difference between assets and deferred outflows of resources less liabilities and deferred inflows of resources. Net position in the government-wide financial statements are categorized as net investment in capital assets, restricted or unrestricted. Net investment in capital assets represents net position related to infrastructure and property, plant and equipment. Restricted net position  represents the assets restricted by the District’s Bond covenants or other contractual restrictions. Unrestricted net position consists of the net position not meeting the definition of either of the other two components.

Other Disclosures

Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates.

NOTE 3 – BUDGETARY INFORMATION

The District is required to establish a budgetary system and an approved Annual Budget.  Annual Budgets are adopted on a basis consistent with generally accepted accounting principles for the general fund. All annual appropriations lapse at fiscal year end.

The District follows these procedures in establishing the budgetary data reflected in the financial statements.

Each year, the District Manager submits to the District Board a proposed operating budget for the fiscal year commencing the following October 1.
Public hearings are conducted to obtain public comments.
Prior to October 1, the budget is legally adopted by the District Board.
All budget changes must be approved by the District Board.
The budgets are adopted on a basis consistent with generally accepted accounting principles.
Unused appropriation for annually budgeted funds lapse at the end of the year.

NOTE 4 – DEPOSITS AND INVESTMENTS

Deposits
The District’s cash balances were entirely covered by federal depository insurance or by a collateral pool pledged to the State Treasurer. Florida Statutes Chapter 280, "Florida Security for Public Deposits Act", requires all qualified depositories to deposit with the Treasurer or another banking institution eligible collateral equal to various percentages of the average daily balance for each month of all public deposits in excess of any applicable deposit insurance held. The percentage of eligible collateral (generally, U.S. Governmental and agency securities, state or local government debt, or corporate bonds) to public deposits is dependent upon the depository's financial history and its compliance with Chapter 280. In the event of a failure of a qualified public depository, the remaining public depositories would be responsible for covering any resulting losses.

Investments
The District’s investments were held as follows at September 30, 2019:

Government Obligations

Amortized Cost	Credit Risk		Maturities Weighted average of the

Fund CL D

$	489,919

S&P AAAm

fund portfolio: 24 days

Credit risk – For investments, credit risk is generally the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Investment ratings by investment type are included in the preceding summary of investments.

Concentration risk – The District places no limit on the amount the District may invest in any one issuer.

Interest rate risk – The District does not have a formal policy that limits investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates.

However, the Bond Indenture limits the type of investments held using unspent proceeds.

NOTE 4 – DEPOSITS AND INVESTMENTS (Continued)

Investments (Continued)
Fair Value Measurement – When applicable, the District measures and records its investments using fair value measurement guidelines established in accordance with GASB Statements. The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques.

These guidelines recognize a three-tiered fair value hierarchy, in order of highest priority, as follows:
Level  1:	Investments whose values are based on unadjusted quoted prices for identical investments in active markets that the District has the ability to access;
Level 2: Investments whose inputs - other than quoted market prices - are observable either directly or indirectly; and,
Level 3: Investments whose inputs are unobservable.

The fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the entire fair value measurement. Valuation techniques used should maximize the use of observable inputs and minimize the use of unobservable inputs.

Money market investments that have a maturity at the time of purchase of one year or less and are held by governments other than external investment pools should be measured at amortized cost. Accordingly, the District’s investments have been reported at amortized cost above.

NOTE 5 – CAPITAL ASSETS

Capital asset activity for the fiscal year ended September 30, 2019 was as follows:

Beginning Balance

Additions	Reductions

Ending Balance

Governmental activities
Capital assets, not being depreciated		
Construction in progress	$	-		$	3,244,874	$ (3,244,874)	$	-	
Total capital assets, not being depreciated	-	3,244,874	(3,244,874)	-	

Capital assets, being depreciated
Infrastructure - stormw ater system	

-	

1,993,580	

-	

1,993,580	
Total capital assets, being depreciated	-	1,993,580	-	1,993,580	

Less accumulated depreciation for:					
Infrastructure - stormw ater system	-	-	-	-	
Total accumulated depreciation	-	-	-	-	

Total capital assets, being depreciated, net	-	1,993,580	-	1,993,580

Governmental activities capital assets, net	$

-	$ 5,238,454

$ (3,244,874) $

1,993,580

The Phase 1 of Series 2019 Project intended to serve the District has been estimated at a total cost of approximately $6,000,000. The infrastructure will include stormwater management facilities, water and sewer facilities, irrigation, offsite roadway and utility improvements, landscaping and hardscaping and lighting. A portion of the project costs was expected to be financed with the proceeds from the issuance  of Bonds with the remainder to be funded by the Developer and conveyed to the District. Upon completion, the water and sewer facilities were conveyed to the City of Lakeland for ownership and maintenance responsibilities. Accordingly $1,251,294 was conveyed to the City of Lakeland.

During the current fiscal year, the District acquired improvements from the Developer valued at
$3,244,874 by paying the Developer $3,003,808. Accordingly, the Developer contributed $241,066 in improvements that were not subject to repayment by the District.

NOTE 6 – LONG-TERM LIABILITIES

Series 2019
On March 27, 2019, the District issued $3,520,000 of Special Assessment Bonds, Series 2019, consisting of $305,000 Term Bonds due on May 1, 2024 with a fixed interest rate of 3.875%, $375,000 Term Bonds due on May 1, 2029 with a fixed interest rate of 4.25%, $1,075,000 Term Bonds due on May 1, 2039 with a fixed interest rate of 4.875%, and $1,765,000 Term Bonds due on May 1, 2049 with a fixed interest rate of 4.25%. The Bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District. Interest is to be paid semiannually on each May 1 and November 1, commencing May 1, 2019. Principal on the Bonds is to be paid serially commencing May 1, 2020 through May 1, 2049.

The Series 2019 Bonds are subject to redemption at the option of the District prior to maturity. The Bonds are subject to extraordinary mandatory redemption prior to their selected maturity in the manner determined by the Bond Registrar if certain events occurred as outlined in the Bond Indenture.

The Bond Indenture established a debt service reserve requirement as well as other restrictions and requirements relating principally to the use of proceeds to pay for the infrastructure improvements and the procedures to be followed by the District on assessments to property owners. The District agrees to levy special assessments in annual amounts adequate to provide payment of debt service and to meet the reserve requirements. The District was in compliance with the requirements at September 30, 2019.

Long-term Debt Activity
Changes in long-term liability activity for the fiscal year ended September 30, 2019 were as follows:

	Beginning
Balance	
Additions	
Reductions	Ending
Balance	Due Within
One Year	
Governmental activities
Bonds payable:						
Series 2019	$	-	$	3,520,000	$	-	$ 3,520,000	$	55,000	
Less: Original issue discount	-	(13,626)	(454)	(13,172)	-	
Total	$	-	$	3,506,374	$	(454)	$ 3,506,828	$	55,000	

At September 30, 2019, the scheduled debt service requirements on the long-term debt were as follows:

Year ending	Governmental Activities
September 30:	Principal	Interest	Total	
2020	$	55,000	$	167,880	$	222,880	
2021	60,000	166,233	226,233	
2022	60,000	163,956	223,956	
2023	65,000	161,583	226,583	
2024	65,000	159,113	224,113	
2025-2029	375,000	752,148	1,127,148	
2030-2034	475,000	658,977	1,133,977	
2035-2039	600,000	531,133	1,131,133	
2040-2044	770,000	367,459	1,137,459	
2045-2049	995,000	156,375	1,151,375	
Total	$ 3,520,000	$ 3,284,857	$ 6,804,857	

NOTE 7 – DEVELOPER TRANSACTIONS

The Developer owns a portion of land within the District; therefore, assessment revenues in the general and debt service funds include the assessments levied on those lots owned by the Developer.

The Developer has agreed to fund the general operations of the District. In connection with that agreement, Developer contributions to the general fund were $60,268.

NOTE 8– CONCENTRATION

The District’s activity is dependent upon the continued involvement of the Developer, the loss of which could have a material adverse effect on the District’s operations.

NOTE 9 – MANAGEMENT COMPANY

The District has contracted with a management company to perform management advisory services, which include financial and accounting services. Certain employees of the management company also serve as officers of the District. Under the agreement, the District compensates the management company for management, accounting, financial reporting, computer and other administrative costs.

NOTE 10 – RISK MANAGEMENT

The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; natural disasters; and environmental remediation. The District has obtained commercial insurance from independent third parties to mitigate the costs of these risks; coverage may not extend to all situations. There were no settled claims during the past three years.

LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT POLK COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND FOR THE FISCAL YEAR ENDED
SEPTEMBER 30, 2019

 		Budgeted Amounts	   Original	Final	

Actual Amounts	Variance with Final Budget - Positive
(Negative)	
REVENUES
Developer contributions	
$	140,700	$	60,469	
$	60,268	
$	(201)	
Total revenues	140,700	60,469	60,268	(201)	

EXPENDITURES
Current:
General government	92,700	59,744	59,543	201	
Maintenance and operations	48,000	725	725	-	
Total expenditures	140,700	60,469	60,268	201	

Excess (deficiency) of revenues over (under) expenditures	

-	

-	

-	

-	

OTHER FINANCING SOURCES (USES)
Transfers In (Out)	-	-	(4,500)		(4,500)	
Total other financing sources (uses)	-	-	(4,500)		(4,500)	

Net change in fund balance	
  $	-	$	-		
(4,500)	
$	
(4,500)	

Fund balance - beginning	 	7,302 

Fund balance - ending	 $	2,802 

See notes to required supplementary information

LAKESIDE PRESERVE COMMUNITY DEVELOPMENT DISTRICT POLK COUNTY, FLORIDA
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION

An operating budget was adopted and maintained by the governing board for the District pursuant to the requirements of Florida Statutes. The budget is adopted using the same basis of accounting that is used in preparation of the fund financial statements. The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. The general fund budget for the fiscal year ended September 30, 2019 was amended to decrease revenues and appropriations by ($80,231). Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2019.

951 Yamato Road ▪ Suite 280 Boca Raton, Florida  33431 (561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

To the Board of Supervisors
Lakeside Preserve Community Development District Polk County, Florida

We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities and each major fund of Lakeside Preserve Community Development District, Polk County, Florida (“District”) as of and for the fiscal year ended September 30, 2019, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our opinion thereon dated June 24, 2020.
Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the District’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the District’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

June 24, 2020

951 Yamato Road ▪ Suite 280 Boca Raton, Florida  33431 (561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10) OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

To the Board of Supervisors
Lakeside Preserve Community Development District Polk County, Florida

We have examined Lakeside Preserve Community Development District, Polk County, Florida's (“District”) compliance with the requirements of Section 218.415, Florida Statutes, in accordance with Rule 10.556(10) of the Auditor General of the State of Florida during the fiscal year ended September 30, 2019. Management is responsible for District’s compliance with those requirements. Our responsibility is to express an opinion on District’s compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the District complied, in all material respects, with the specified requirements referenced in Section 218.415, Florida Statutes. An examination involves performing procedures to obtain evidence about whether the District complied with the specified requirements. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material noncompliance, whether due to fraud or error. We  believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the District’s compliance with specified requirements.

In our opinion, the District complied, in all material respects, with the aforementioned requirements for the fiscal year ended September 30, 2019.

This report is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, management, the Board of Supervisors of Lakeside Preserve Community Development District, Polk County, Florida, and The City of Lakeland, and is not intended to be and should not be used by anyone other than these specified parties.

June 24, 2020

951 Yamato Road ▪ Suite 280 Boca Raton, Florida  33431 (561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL FOR THE STATE OF FLORIDA

To the Board of Supervisors
Lakeside Preserve Community Development District Polk County, Florida

Report on the Financial Statements

We have audited the accompanying basic financial statements of Lakeside Preserve Community Development District ("District") as of and for the fiscal year ended September 30, 2019, and have issued our report thereon dated June 24, 2020.

Auditor’s Responsibility

We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and Chapter 10.550, Rules of the Florida Auditor General.

Other Reporting Requirements

We have issued our Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; and Independent Auditor’s Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated June 24, 2020, should be considered in conjunction with this management letter.

Purpose of this Letter

The purpose of this letter is to comment on those matters required by Chapter 10.550 of the Rules of the Auditor General for the State of Florida. Accordingly, in connection with our audit of the financial statements of the District, as described in the first paragraph, we report the following:

Current year findings and recommendations.
Status of prior year findings and recommendations.
Compliance with the Provisions of the Auditor General of the State of Florida.

Our management letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, Federal and other granting agencies, as applicable, management, and the Board of Supervisors of Lakeside Preserve Community Development District, Polk County, Florida and is not intended to be and should not be used by anyone other than these specified parties.

We wish to thank Lakeside Preserve Community Development District, Polk County, Florida and the personnel associated with it, for the opportunity to be of service to them in this endeavor as well as future engagements, and the courtesies extended to us.

June 24, 2020

REPORT TO MANAGEMENT

CURRENT YEAR FINDINGS AND RECOMMENDATIONS

None

PRIOR YEAR FINDINGS AND RECOMMENDATIONS

None

COMPLIANCE WITH THE PROVISIONS OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

Unless otherwise required to be reported in the auditor’s report on compliance and internal controls, the management letter shall include, but not be limited to the following:

A statement as to whether or not corrective actions have  been taken to  address findings  and recommendations made in the preceding annual financial audit report.

There were no significant findings and recommendations made in the preceding annual financial audit report for the fiscal year ended September 30, 2018.

Any recommendations to improve the local governmental entity's financial management.

There were no such matters discovered by, or that came to the attention of, the auditor, to be reported for the fiscal year ended September 30, 2019.

Noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that  is less than material but which warrants the attention of those charged with governance.

There were no such matters discovered by, or that came to the attention of, the auditor, to be reported, for the fiscal year ended September 30, 2019.

The name or official title and legal authority of the District are disclosed in the notes to the financial statements.

The District has not met one or more of the financial emergency conditions described in Section 218.503(1), Florida Statutes.

We applied financial condition assessment procedures and no deteriorating financial conditions were noted as of September 30, 2019. It is management’s responsibility to monitor financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same.

Lakeside Preserve Community Development District

Payment Authorization Nos. 85- 91

LAKESIDE PRESERVE
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 085
5/8/2020

Item	
Vendor	
Invoice	
General	
No.		Number	Fund	

1	
Business Observer			
	Legal Advertising on 05/01/2020	20-00660K	$	150.94	
2	Greenskeeper Services			
	May Landscaping	15440	$ 3,700.00	
	Lawn Maintenance for LP Boulevard	15443	$ 4,800.00	
3	Lakeland Electric			
	4115 Lakeside Preserve Bl # Well ; Service 04/03/2020 - 05/02/2020	-----	$	55.05	
	4000 Pipkin Creek Rd # Entr ; Service 04/03/2020 - 05/02/2020	-----	$	19.14	

TOTAL	$ 8,725.13

Board Member

LAKESIDE PRESERVE
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 086
5/15/2020

Item	
Vendor	
Invoice	
General	
No.		Number	Fund	

1	
PFM Group Consulting, LLC			
	DM Fees: May 2020	DM-05-2020-0033	$ 1,666.67	
	Website Fees: May 2020	DM-05-2020-0034	$	125.00	
2	Solitude Lake Management			
	Lake & Pond Management - May 2020	PI-A00403633	$	725.00	
3	VGlobalTech			
	Quarterly ADA & WCAG Audits	1621	$	300.00	

TOTAL	$ 2,816.67

Board Member

LAKESIDE PRESERVE
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 087
5/22/2020

Item
No.		Vendor	Invoice
Number	General
Fund	

1	
PFM Group Consulting LLC				
	March Postage April Postage		OE-EXP-00785 OE-EXP-00843	$	5.00
$	5.50	
2	Supervisor Fee				
	Dan Lewis		----	$	200.00	
	Brian Walsh Jeffrey Shenefield		----
----	$	200.00
$	200.00	

TOTAL	$	610.50

Board Member

LAKESIDE PRESERVE
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 088
5/29/2020

Item	
Vendor	
Invoice	
General	
No.		Number	Fund	

1	
PFM Group Consulting LLC			
	Misc Expenses (Postage and Fedex)	OE-EXP-00786	$	20.37	
2	Hopping Green & Sams			
	District counsel	114870	$	388.00	

TOTAL	$	408.37

Board Member

LAKESIDE PRESERVE
C O M M U N I T Y D E V E L O P M E N T D I S T R I C T

Payment Authorization No. 089
6/5/2020

Item	
Vendor	
Invoice	
General	
Fiscal	
No.		Number	Fund	Year 2021	

1	
Business Observer				
	Legal Ad 05/29/2020	20-00732K	$	157.50		
2	Greenskeeper Services				
	June Lawn maintenance	15446	$ 3,700.00		
	Lawn maintenance - HOA	15447	$	800.00		
3	Lakeland Electric				
	4115 Lakeside Preserve	----	$	54.94		
	4000 Pipkin Creek Road	----	$	18.78		
4	US Bank				
	Admin fee 05/01/2020 - 04/30/2021	5750637	$ 1,683.60	$2,357.03	

TOTAL	$ 8,771.85

Board Member

LAKESIDE PRESERVE
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 090
6/15/2020

Item	Vendor	Invoice	General
No.	Number	Fund

Grau and Associates
Audit FY 19	19772

$ 1,000.00

Hopping Green & Sams
Legal Counsel	100457

$	900.00

TOTAL	$ 1,900.00

Board Member

LAKESIDE PRESERVE
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 091

6/19/2020

Item	
Vendor	
Invoice	
General	
No.		Number	Fund	

1	
Landmark Engineering & Surveying Corporation			
	Engineering Services	2170075-5	$	225.00	
2	PFM Group Consulting LLC			
	DM fees - June 2020	DM-006-2020-0027	$ 1,666.67	
	Website fees - June 2020	DM-006-2020-0028	$	125.00	
3	Solitude Lake Management			
	Lake & Pond Service 06/01/20-06/30/2020	PI-A00420743	$	725.00	
		
TOTAL	
$ 2,741.67	

Board Member

Lakeside Preserve Community Development District

Monthly Financials

Debt Service	Capital	Long-Term	
Fund	Projects Fund	Debt Fund	

Lakeside Preserve CDD Statement of Financial Position As of 6/30/2020

Current Assets	Assets		
General Checking Account	$	758.97						$	758.97	
Prepaid Expenses	2,357.03						2,357.03	
Deposits	300.00						300.00	
Series 2019 Debt Service Reserve			$ 195,015.62				195,015.62	
Series 2019 Revenue			108,864.29				108,864.29	
Series 2019 Prepayment			517,028.69				517,028.69	
Series 2019 Acquisition/Construction					$	763.04		763.04	
Total Current Assets	$	3,416.00		$ 820,908.60		$	763.04		$	-	$ 825,087.64	

Investments

General Fund

Total

Amount Available in Debt Service Funds			$ 820,908.60		$ 820,908.60	
Amount To Be Provided	
 			2,159,091.40		2,159,091.40	
Total Investments	$	-	$	-	$	-		$ 2,980,000.00		$ 2,980,000.00	

Total Assets	$	3,416.00		$ 820,908.60		$	763.04		$ 2,980,000.00		$ 3,805,087.64	

Liabilities and Net Assets					
Long Term Liabilities						
Revenue Bonds Payable - Long-Term	
 			$ 2,980,000.00		$ 2,980,000.00	
Total Long Term Liabilities	$	-	$	-	$	-		$ 2,980,000.00		$ 2,980,000.00	
Total Liabilities	
$	-	$	-	$	-		$ 2,980,000.00		$ 2,980,000.00	

Net Assets						
Net Assets, Unrestricted	$	(4,500.00)				$	(4,500.00)	
Net Assets - General Government	7,302.06				7,302.06	
Current Year Net Assets - General Government	613.94				613.94	
Net Assets, Unrestricted	$ 479,419.75				479,419.75	
Current Year Net Assets, Unrestricted	341,488.85				341,488.85	
Net Assets, Unrestricted	$ 10,912.00				10,912.00	
Current Year Net Assets, Unrestricted	(10,148.96)				(10,148.96)	
Total Net Assets	$	3,416.00	$ 820,908.60	$	763.04	$	-	$	825,087.64	
Total Liabilities and Net Assets	$	3,416.00		$ 820,908.60		$	763.04		$ 2,980,000.00		$ 3,805,087.64	

Lakeside Preserve CDD Statement of Activities As of 6/30/2020

General Fund	Debt Service Fund

Capital Projects Fund

Long-Term Debt Fund

Total

Revenues

Off-Roll Assessments	$99,993.75								$99,993.75	
Developer Contributions	14,732.00								14,732.00	
On-Roll Assessments			$213,777.16						213,777.16	
Off-Roll Assessments			750.00						750.00	
Other Assessments			818,643.57						818,643.57	
Inter-Fund Group Transfers In			10,161.07						10,161.07	
Inter-Fund Transfers In					($10,161.07)				(10,161.07)	
Total Revenues	$114,725.75		$1,043,331.80		($10,161.07)		$0.00		$1,147,896.48	

Expenses

Supervisor Fees	$2,400.00								$2,400.00	
D&O Insurance	2,306.00								2,306.00	
Trustee Services	1,683.60								1,683.60	
Management	15,000.03								15,000.03	
Engineering	600.00								600.00	
Dissemination Agent	5,000.00								5,000.00	
District Counsel	12,381.30								12,381.30	
Assessment Administration	7,500.00								7,500.00	
Audit	3,500.00								3,500.00	
Travel and Per Diem	124.31								124.31	
Postage & Shipping	259.80								259.80	
Legal Advertising	1,263.07								1,263.07	
Miscellaneous	5.50								5.50	
Web Site Maintenance	1,425.00								1,425.00	
Dues, Licenses, and Fees	175.00								175.00	
Electric	994.10								994.10	
Aquatic Contract	10,325.00								10,325.00	
General Insurance	2,819.00								2,819.00	
Landscaping Maintenance & Material	46,475.00								46,475.00	
Principal Payments			$540,000.00						540,000.00	
Interest Payments			164,693.77						164,693.77	
Total Expenses	$114,236.71		$704,693.77		$0.00		$0.00		$818,930.48	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$124.90								$124.90	
Interest Income			$2,850.82						2,850.82	
Interest Income					$12.11				12.11	
Total Other Revenues (Expenses) & Gains (Losses)	$124.90		$2,850.82		$12.11		$0.00		$2,987.83	
Change In Net Assets	$613.94		$341,488.85		($10,148.96)		$0.00		$331,953.83	

Net Assets At Beginning Of Year	
$2,802.06		
$479,419.75		
$10,912.00		
$0.00		
$493,133.81	

Net Assets At End Of Year	

$3,416.00		

$820,908.60		

$763.04		

$0.00		

$825,087.64	

Lakeside Preserve CDD
Budget to Actual
For the Month Ending 6/30/2020

Year To Date

Actual	Budget	Variance

FY 2020
Adopted Budget

Revenues

Off-Roll Assessments	$ 99,993.75		$ 94,893.75		$	5,100.00		$ 126,525.00	
Developer Contributions	14,732.00		-		14,732.00		-	
Net Revenues	$ 114,725.75		$ 94,893.75		$ 19,832.00		$ 126,525.00	

General & Administrative Expenses

Supervisor Fees	$	2,400.00		$ 1,800.00		$	600.00		$	2,400.00	
D&O Insurance	2,306.00		1,856.25		449.75		2,475.00	
Trustee Services	1,683.60		4,500.00		(2,816.40)		6,000.00	
Management	15,000.03		15,000.03		-		20,000.00	
Engineering	600.00		3,750.03		(3,150.03)		5,000.00	
Dissemination Agent	5,000.00		3,750.03		1,249.97		5,000.00	
District Counsel	12,381.30		9,000.00		3,381.30		12,000.00	
Assessment Administration	7,500.00		5,625.00		1,875.00		7,500.00	
Reamortization Schedules	-		187.47		(187.47)		250.00	
Audit	3,500.00		3,750.03		(250.03)		5,000.00	
Travel and Per Diem	124.31		375.03		(250.72)		500.00	
Telephone	-		150.03		(150.03)		200.00	
Postage & Shipping	259.80		225.00		34.80		300.00	
Copies	-		375.03		(375.03)		500.00	
Legal Advertising	1,263.07		2,250.00		(986.93)		3,000.00	
Miscellaneous	5.50		1,874.88		(1,869.38)		2,500.00	
Web Site Maintenance	1,425.00		2,025.00		(600.00)		2,700.00	
Dues, Licenses, and Fees	175.00		131.22		43.78		175.00	
Electric	994.10		-		994.10		-	
Aquatic Contract	10,325.00		6,000.03		4,324.97		8,000.00	
General Insurance	2,819.00		2,268.72		550.28		3,025.00	
Landscaping Maintenance & Material	46,475.00		29,999.97		16,475.03		40,000.00	
Total General & Administrative Expenses	$ 114,236.71		$ 94,893.75		$ 19,342.96		$ 126,525.00	
Total Expenses	   $ 114,236.71 		  $ 94,893.75 		  $ 19,342.96 		   $ 126,525.00 	
Income (Loss) from Operations	$	489.04		$	-		$	489.04		$	-	

Other Income (Expense)

Interest Income	$	124.90		$	-	$	124.90		$	-	
Total Other Income (Expense)	$	124.90		
$	-	$	124.90		$	-	

  	 

Net Income (Loss)

$	613.94	$	-

$	613.94	$	-

Lakeside Preserve Community Development District

Staff Reports