Boggy Creek Improvement District
3501 Quadrangle Boulevard, Suite 270, Orlando, FL 32817; Phone: 407-723-5900 www.boggycreekid.org

The following is the proposed agenda for the upcoming Meeting of the Board of Supervisors for the Boggy Creek Improvement District (“District”), scheduled to be held at 3:00 p.m. on Tuesday, June 18, 2024, at 6900 Tavistock Lakes Blvd. Ste 200, Orlando, FL 32827. A quorum will be confirmed prior to the start of the meeting.
District Staff, please use the following information to join via computer or the conference line:

Phone:1-844-621-3956	Computer: pfmcdd.webex.com	Participant Code: 2531 126 0013#

BOARD OF SUPERVISORS’ MEETING AGENDA

Organizational Matters
Roll Call to Confirm a Quorum
Public Comment Period
Consideration of the Minutes of the May 21, 2024, Board of Supervisors’ Meeting

Business Matters
Consideration of Trail Maintenance Proposals (provided under separate cover)
Review and Acceptance of Fiscal Year 2023 Audit
Ratification of Operation and Maintenance Expenditures Paid in May 2024 in an amount totaling $124,901.79
Ratification of Requisition Nos. 445 – 450 Paid in May 2024 in an amount totaling $9,731.46
Recommendation of Work Authorizations/Proposed Services (if applicable)
Review of District’s Financial Position and Budget to Actual YTD

Other Business
Staff Reports
District Counsel
District Manager
District Engineer
Landscape Supervisor
Irrigation Supervisor
Construction Supervisor
Supervisor Requests

Adjournment

BOGGY CREEK IMPROVEMENT DISTRICT

Minutes of the May 21, 2024, Board of Supervisors’ Meeting

BOGGY CREEK IMPROVEMENT DISTRICT BOARD OF SUPERVISORS’ MEETING MINUTES

FIRST ORDER OF BUSINESS	Roll Call to Confirm Quorum

The Board of Supervisors’ Meeting for the Boggy Creek Improvement District was called to order on Tuesday, May 21, 2024, at 3:00 p.m. at 6900 Tavistock Lakes Blvd. Ste 200, Orlando, FL 32827.

Present:			
Damon Ventura Thad Czapka Julie Salvo Chad Tinetti	Vice Chairperson Assistant Secretary Assistant Secretary Assistant Secretary		
Also attending:			
Jennifer Walden	PFM		
Lynne Mullins Amanda Lane Jeffrey Newton
Tucker Mackie	PFM
PFM	(via phone)
Donald W. McIntosh Associates Kutak Rock	
Dan Young
Samantha Sharenow DJ Batten	Tavistock
Berman Berman	(via phone)	
Katie Harmer	Berman	(via phone)	

SECOND ORDER OF BUSINESS	Public Comment Period
Ms. Walden called for public comments. She noted there was no one from the public present.

THIRD ORDER OF BUSINESS	Consideration of the Minutes of the April 16, 2024, Board of Supervisors’ Meeting

The Board reviewed the minutes of the April 16, 2024, Board of Supervisors’ Meeting.

On motion by Mr. Czapka, seconded by Ms. Salvo, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved the Minutes of the April 16, 2024, Board of Supervisors’ Meeting.

FOURTH ORDER OF BUSINESS	Letter from Supervisor of Elections – Orange County

Ms. Walden explained the District is required to state the number of registered voters on the record. As of April 15, 2024, there were 32 registered voters for the Boggy Creek Improvement District.

FIFTH ORDER OF BUSINESS	Consideration of Resolution 2024-03, Underwriter Services Selection Policy
Ms. Mackie explained that this policy has been a part of the agenda for the past few meetings to allow time for the Board to review and provide comments. She noted the policy is included as an exhibit and has been unchanged since its initial presentation.

On motion by Mr. Ventura, seconded by Ms. Salvo, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved Resolution 2024-03, Underwriter Services Selection Policy.

SIXTH ORDER OF BUSINESS	Consideration of Resolution 2024-06, Adopting an Amended Records Retention Policy
Ms. Mackie explained that the District previously adopted a records retention policy that provided that the District would keep all records for an indefinite period of time. She noted this was common at the time the District was established, but at this time, with the maturity of the District, many of the vendors have large amounts of paper only records that they are storing on site. She stated the first step is that the Board potentially considers a Records Retention Policy that conforms with the Division of Library Services’ Schedule, which would allow for the lawful destruction of certain records after a certain period of time. Additionally, District staff is currently working with one of the vendors to remove boxes out of their office. Moving forward, District staff will look at the cost of continuing to store those documents or going through the process of digitizing those documents, and this will be presented to the Board in the next month or two.

On motion by Ms. Salvo, seconded by Mr. Ventura, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved Resolution 2024-06, Adopting an Amended Records Retention Policy.

SEVENTH ORDER OF BUSINESS	Consideration of Prequalified Contractors Extension
Mr. Newton stated in 2021 the District prequalified site contractors for the District’s infrastructure projects. The prequalification period is two years and then there are two optional years that the District can extend the prequalification. In 2023, the Board granted a one-year extension, which leaves a potential extension of one additional year. Mr. Newton explained this was discussed at the Construction Committee meeting, and the recommendation is that the Board extends the prequalified contractors by one more year.

On motion by Mr. Tinetti, seconded by Ms. Salvo, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved the Prequalified Contractors Extension of one additional year.

EIGHTH ORDER OF BUSINESS	Consideration of Resolution 2024-05, Approving a Preliminary Budget for

Fiscal Year 2025 and Setting a Public Hearing Date
Ms. Walden stated the budgets are listed as an exhibit to the Resolution. She added the assessment amount will not change, and the District still has Developer contributions and carry forward to cover the O&M budget. Ms. Walden noted District staff is recommending August 20, 2024, at 3:00 p.m. at this location for the public hearing.

Discussion ensued regarding several line items.

On motion by Mr. Ventura, seconded by Ms. Salvo, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved Resolution 2024-05, Approving a Preliminary Budget for Fiscal Year 2025 and Setting a Public Hearing Date on August 20, 2024, at 3:00 p.m. at 6900 Tavistock Lakes Blvd., Ste. 200, Orlando, FL 32827.

NINTH ORDER OF BUSINESS	Consideration of Trail Maintenance Proposals
Ms. Walden noted that the proposal is on page 59 of the agenda packet. Ms. Harmer explained that the asphalt items will be addressed at the next meeting as the team is still working on obtaining proposals, and this proposal covers miscellaneous items like the painting of the electrical covers, pressure washing, and the installation of two new signs indicating no motorized vehicles along the pathway.

Discussion ensued regarding the no motor vehicle signs and the Board decided to table the signs until receiving feedback of what the District can prohibit.

On motion by Mr. Ventura, seconded by Mr. Tinetti, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved the Trail Maintenance Proposal from Berman in the amount of $1,575.00 for painting of the electrical covers and pressure washing the trail.

TENTH ORDER OF BUSINESS	Ratification of Operation and Maintenance Expenditures Paid in April 2024 in an amount totaling
$79,194.79

The Board reviewed O&M expenditures paid in April. Ms. Walden noted that these expenditures have been paid and need to be ratified by the Board.

On motion by Mr. Ventura, seconded by Ms. Salvo, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District ratified the Operation and Maintenance Expenditures Paid in April 2024 in an amount totaling $79,194.79.

ELEVENTH ORDER OF BUSINESS	Ratification of Requisition Nos. 443 – 444 Paid in April 2024 in an amount totaling $15,263.19

The Board reviewed Requisition Nos. 443 – 444. Ms. Walden noted these have been approved and need to be ratified.

On motion by Mr. Ventura, seconded by Mr. Czapka, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District ratified Requisition Nos. 443 – 444 in April 2024 in an amount totaling
$15,263.19.

TWELFTH ORDER OF BUSINESS	Recommendation of Work Authorizations/Proposed Services

Ms. Walden stated the first Work Authorization is from Donald W. McIntosh Associates in the amount of
$9,500.00 for the Public Facilities Report that is statutorily required. It is due before the end of the calendar year and is required to be done every seven years.

On motion by Mr. Ventura, seconded by Ms. Salvo, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved the Work Authorization for Donald W. McIntosh Associates in the amount of $9,500.00 for the Public Facilities Report.

Mr. Batten stated this Cepra proposal is for a palm tree on Lake Nona Boulevard. He stated it is one of five, so if it is not replaced there will be a gap left there. The proposal is to remove the palm and replace it with a new one.

On motion by Mr. Ventura, seconded by Mr. Czapka, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved the Work Authorization for Cepra in the amount of
$6,625.00 to remove and replace a palm tree.

THIRTEENTH ORDER OF BUSINESS	Review of District’s Financial Position and Budget to Actual YTD
Ms. Walden stated through the end of April the District has expenses of just under $558,000.00 versus an overall budget of $1,744,000.00, which equates to approximately 32% of the total budget spent.

There was a brief discussion regarding the reserve line item.

FOURTEENTH ORDER OF BUSINESS	Staff Reports

District Counsel –	Ms. Mackie explained that the District has been working with the VA to
finalize the Amended and Restated Joint Project Agreement for the signalization. Rather than constructing the signal, the District is going to acquire that signal form Lake Nona Land Company once constructed. The

VA is in agreement with this so District staff is working on finalizing questions and comments to the agreement. Ms. Mackie additionally explained that the Form 1 is due soon and wanted to ensure the Board didn’t have any questions.

District Manager –	Ms. Walden stated the next Board Meeting is Tuesday, June 18, 2024.
Ms. Walden informed the Board there is a form regarding designations for public records at the back of the agenda packet. It notes that Ms. Walden is designated the custodian of public records for the District and the District's Records Management Liaison Officer.

District Engineer –	Mr. Newton stated there are no active District construction projects but
there are several that are in design and permitting and coming close to construction. He noted there are three projects – signal at Veterans Way and Laureate Boulevard, the two roundabouts on the western part of Lake Nona Boulevard by the power center, and Lift Station No. 9. Lake Nona Land Company will build all of these projects and then convey them to the District.

Landscape Supervisor –	No report. Irrigation Supervisor –	No report.
Construction Supervisor –	Mr. Batten stated the usage of water has gone down due to the team’s due
diligence.

FIFTEENTH ORDER OF BUSINESS	Supervisor Requests

There were no Supervisor requests.

SIXTEENTH ORDER OF BUSINESS	Adjournment

Ms. Walden requested a motion to adjourn.

On motion by Ms. Salvo, seconded by Mr. Czapka, with all in favor, the May 21, 2024, Meeting of the Board of Supervisors for the Boggy Creek Improvement District was adjourned.

Secretary/Assistant Secretary	Chair/Vice Chair

Trail Maintenance Proposals
(provided under separate cover)

Fiscal Year 2023 Audit

Boggy Creek Improvement District ANNUAL FINANCIAL REPORT
September 30, 2023

Boggy Creek Improvement District ANNUAL FINANCIAL REPORT
Fiscal Year Ended September 30, 2023 TABLE OF CONTENTS

FINANCIAL SECTION

Page Number

REPORT OF INDEPENDENT AUDITORS	1-3	
MANAGEMENT’S DISCUSSION AND ANALYSIS	4-9	
BASIC FINANCIAL STATEMENTS:
Government-wide Financial Statements: Statement of Net Position Statement of Activities
Fund Financial Statements:
Balance Sheet – Governmental Funds Reconciliation of Total Governmental Fund Balances
to Net Position of Governmental Activities
Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities
Statement of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual – General Fund	

10
11

12

13

14

15

16	
Notes to Financial Statements	17-32	

INDEPENDENT AUDITORS’ 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	33-34
MANAGEMENT LETTER	35-37
INDEPENDENT ACCOUNTANTS’ REPORT/COMPLIANCE WITH SECTION
218.415, FLORIDA STATUTES	38

REPORT OF INDEPENDENT AUDITORS

To the Board of Supervisors Boggy Creek Improvement District Orlando, Florida

Report on Audit of the Financial Statements
Opinion

We have audited the financial statements of the governmental activities and each major fund of Boggy Creek Improvement District (the “District”), as of and for the year ended September 30, 2023, and the related notes to financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of Boggy Creek Improvement District as of September 30, 2023, and the respective changes in financial position and the budgetary comparison for the General Fund for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS), and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the District and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Responsibilities of Management 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; and for 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.

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To the Board of Supervisors Boggy Creek Improvement District

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for one year beyond the financial statement date, including currently known information that may raise substantial doubt thereafter.

Auditor’s Responsibility for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore, is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:

Exercise professional judgement and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit 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 District’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgement, there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

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To the Board of Supervisors Boggy Creek Improvement District

Required Supplementary Information
Accounting principles generally accepted in the United States of America require that Management’s Discussion and Analysis be presented to supplement the basic financial statements. Such information is the responsibility of management and, 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 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 a report dated May 23, 2024 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 and contracts.

The purpose of that report is 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 Boggy Creek Improvement District’s internal control over financial reporting and compliance.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida May 23, 2024

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Management’s discussion and analysis of Boggy Creek Improvement District's (the “District”) financial performance provides an objective and easily readable analysis of the District’s financial activities. The analysis provides summary financial information for the District and should be read in conjunction with the District’s financial statements.
OVERVIEW OF THE FINANCIAL STATEMENTS

The District’s basic financial statements comprise three components; 1) Government-wide financial statements, 2) Fund financial statements, and 3) Notes to financial statements. The Government-wide financial statements present an overall picture of the District’s financial position and results of operations. The Fund financial statements present financial information for the District’s major funds. The Notes to financial statements provide additional information concerning the District’s finances.
The Government-wide financial statements are the statement of net position and the statement of activities. These statements use accounting methods similar to those used by private-sector companies. Emphasis is placed on the net position of governmental activities and the change in net position. Governmental activities are primarily supported by special assessments.
The statement of net position presents information on all assets and liabilities of the District, with the difference between assets and liabilities reported as net position. Net position is reported in three categories; 1) net investment in capital assets, 2) restricted and 3) unrestricted. Assets, liabilities, and net position are reported for all Governmental activities.

The statement of activities presents information on all revenues and expenses of the District and the change in net position. Expenses are reported by major function and program revenues relating to those functions are reported, providing the net cost of all functions provided by the District. To assist in understanding the District’s operations, expenses have been reported as governmental activities. Governmental activities financed by the District include general government, physical environment, transportation and debt service.

Fund financial statements present financial information for governmental funds. These statements provide financial information for the major funds of the District. Governmental fund financial statements provide information on the current assets and liabilities of the funds, changes in current financial resources (revenues and expenditures), and current available resources.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Fund financial statements include a balance sheet and a statement of revenues, expenditures and changes in fund balances for all governmental funds. A statement of revenues, expenditures, and changes in fund balances – budget and actual, is provided for the District’s General Fund. Fund financial statements provide more detailed information about the District’s activities. Individual funds are established by the District to track revenues that are restricted to certain uses or to comply with legal requirements.

The government-wide financial statements and the fund financial statements provide different pictures of the District. The government-wide financial statements provide an overall picture of the District’s financial standing. These statements are comparable to private-sector companies and give a good understanding of the District’s overall financial health and how the District paid for the various activities, or functions, provided by the District. All assets of the District, including land and land improvements, buildings and improvements, equipment and infrastructure are reported in the statement of net position. All liabilities, including principal outstanding on bonds are included. The statement of activities includes depreciation on all long lived assets of the District, but transactions between the different functions of the District have been eliminated in order to avoid “doubling up” the revenues and expenses. The fund financial statements provide a picture of the major funds of the District. In the case of governmental activities, outlays for long lived assets are reported as expenditures and long-term liabilities, such as general obligation bonds, are not included in the fund financial statements. To provide a link from the fund financial statements to the government-wide financial statements, a reconciliation is provided from the fund financial statements to the government- wide financial statements.
Notes to financial statements provide additional detail concerning the financial activities and financial balances of the District. Additional information about the accounting practices of the District, investments of the District, capital assets and long-term debt are some of the items included in the notes to financial statements.

Financial Highlights

The following are the highlights of financial activity for the year ended September 30, 2023.

The District’s total assets and deferred outflows of resources were exceeded by total liabilities by $(43,774,369) (net position). Net investment in capital assets was
$2,817,715. Restricted net position was $483,813. Unrestricted net position was
$(47,075,897).

Governmental activities revenues totaled $6,471,509 while governmental activities expenses totaled $5,029,087.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Financial Analysis of the District

The following schedule provides a summary of the assets, liabilities and net position of the District and is presented by category for comparison purposes.

Net Position

	Governmental Activities	

Current assets Restricted assets Capital assets
Total Assets	
$	    2023	
734,886
6,114,978
    7,856,233 
   14,706,097 	
$	    2022	
538,769
6,558,977
    6,585,341 
   13,683,087 	
Deferred outflows of resources		3,633,343 		3,912,831 	
Current liabilities Non-current liabilities
Total Liabilities	3,377,101
	58,736,708 
	62,113,809 	3,161,081
	59,651,628 
	62,812,709 	
Net Position
Net investment in capital assets Restricted net position Unrestricted net position
Total Net Position	

 $ 	
2,817,715
483,813
   (47,075,897)
(43,774,369)	

 $ 	
3,151,642
31,224
   (48,399,657)
(45,216,791)	
The increase in current assets is related to revenues exceeding expenditures in the General Fund in the current year.

The decrease in restricted assets is related to the bond refunding in the current year.
The increase in capital assets is related to the land and land improvements and infrastructure added in the current year.

The decrease in liabilities is related to the principal payments on long-term debt in the current year.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)
Financial Analysis of the District (Continued)
The following schedule provides a summary of the changes in net position of the District and is presented by category for comparison purposes.
Change in Net Position
	Governmental Activities	

Program Revenues Charges for services Operating contributions Capital contributions
General Revenues Investment earnings Miscellaneous revenues
Total Revenues		    2023			    2022		
	$	4,923,128	$	6,147,147	
		427,318		283,630	
		814,759		146,320	
		194,000		11,389	
		      112,304 		          - 	
		     6,471,509 		     6,588,486 	
Expenses
General government Physical environment Transportation
Interest and other charges Total Expenses	
106,058
764,268
387,406
	3,771,355 
	5,029,087 		
134,231
858,991
415,813
     3,361,217 
     4,770,252 	
Change in Net Position		1,442,422		1,818,234	
Net Position - Beginning of Year		(45,216,791) 		   (47,035,025) 	
Net Position - End of Year	 $		(43,774,369)	 $		(45,216,791)	

The decrease in charges for services is related to the decrease in debt service special assessments in the current year.
The decrease in general government is related to the decrease in legal fees in the current year.
The decrease in physical environment is primarily related to an abandoned streetlight project in the prior year.
The decrease in transportation was related to the start up costs of a shuttle service that was implemented in the prior year.
The increase in interest and other charges is related to the issuance costs of a bond refunding in the current year.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)
Capital Assets Activity
The following schedule provides a summary of the District’s capital assets as of September 30, 2023 and 2022.
Governmental Activities
Description		2023		2022	
Construction in progress		$	4,132,926		$	3,876,731	
Land and land improvements		1,913,034		705,984	
Infrastructure		1,428,817		1,428,817	
Improvements other than buildings		70,888		70,888	
Equipment		700,000		700,000	
Accumulated depreciation			(389,432)			(197,079)	
Total Capital Assets		 $	7,856,233 		 $	6,585,341 	

The activity for the year consisted of $256,195 in additions to construction in progress and
$1,207,050 in additions to land and land improvements and depreciation of $192,353.
General Fund Budgetary Highlights
Actual governmental expenditures were less than final budgeted amounts primarily due to lower transportation, landscaping, and contingency costs than were anticipated.
The General Fund budget was not amended in the current year.
Debt Management
Governmental Activities debt includes the following:
In April 2013, the District issued $56,815,000 Series 2013 Special Assessment Revenue and Revenue Refunding Bonds. The bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District. The balance outstanding at September 30, 2023 was $43,275,000.
In July 2018, the District issued a not-to-exceed $25,000,000 Bond Anticipation Note. The Note was issued to fund a portion of the Series 2018 Project. The Bond Anticipation notes were refunded in the current year.
	During the year ended September 30, 2021, the District entered into a financed purchase agreement for autonomous vehicles. The agreement has an end of finance purchase option which qualifies it as a financed purchase. The agreement, in the total amount of $700,000, commenced in July 2021 for a term of 5 annual payments. The balance outstanding at September 30, 2023 is $426,196.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)
Debt Management (Continued)

In June 2023, the District issued $17,470,000 Series 2023 Special Assessment Revenue Refunding Bonds. The bonds were issued to refund the Series 2018 Bond Anticipation Note. The balance outstanding at September 30, 2023 was $17,470,000.

In June 2023, the District entered into a promissory note for the acquisition of interchange ponds. The balance outstanding at September 30, 2023 was $392,291.

Economic Factors and Next Year’s Budget

Boggy Creek Improvement District’s construction is ongoing; however, the District does not anticipate economic factors to affect operations for the year ended September 30, 2024.
Request for Information

The financial report is designed to provide a general overview of Boggy Creek Improvement District’s finances for all those with an interest. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the Boggy Creek Improvement District, PFM Group Consulting LLC, 3501 Quadrangle Boulevard, Suite 270, Orlando, Florida 32817.

ASSETS
Current Assets

Boggy Creek Improvement District STATEMENT OF NET POSITION
September 30, 2023

Governmental Activities

Cash	$	524,369
Investments	1,376
Assessments receivable	76,272
Accrued interest receivable	26,882
Due from developer	52,970
Due from other governments	46,298
Deposits	5,000
Prepaid expenses		1,719 
Total Current Assets		734,886 
Non-current Assets Restricted assets
Cash and investments	6,114,978
Capital assets, not being depreciated
Land and land improvements	1,913,034
Construction in progress	4,132,926
Capital assets, being depreciated
Improvements other than buildings	70,888	
Infrastructure	1,428,817	
Equipment	700,000	
Accumulated depreciation		(389,432)	
Total Non-current Assets		13,971,211 	
Total Assets		14,706,097 	
DEFERRED OUTFLOW OF RESOURCES
Deferred amount on refunding, net		3,633,343 
LIABILITIES
Current Liabilities
Accounts payable and accrued expenses	89,818	
Contracts payable	63,239	
Bonds payable	1,985,000	
Financed purchase payable	139,969	
Accrued interest payable		1,099,075 	
Total Current Liabilities		3,377,101 	
Non-current liabilities Notes payable	392,291	
Bonds payable, net	58,058,190	
Financed purchase payable		286,227 	
Total Non-current Liabilities		58,736,708 	
Total Liabilities		62,113,809 	
NET POSITION
Net investment in capital assets	
2,817,715	
Restricted for debt service	483,813	
Unrestricted		(47,075,897)	
Total Net Position	 $ (43,774,369)	

See accompanying notes to financial statements.	
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		Boggy Creek Improvement District			
		STATEMENT OF ACTIVITIES			
		For the Year Ended September 30, 2023			
				
Net (Expense)	
				Revenues and	
				Changes in	
		Program Revenues		Net Position	
		Operating	Capital			
		Charges for	Grants and	Grants and		Governmental	
Functions/Programs		Expenses	Services	Contributions	Contributions		Activities	
Governmental Activities		   			
General government		$	(106,058)	$	92,249	$	42,539	$	-		$	28,730	
Physical environment		(764,268)	619,223	285,546	814,759		955,260	
Transportation		(387,406)	215,193	99,233	-		(72,980)	
Interest and other charges			(3,771,355) 	3,996,463  	-  	- 			225,108 	
Total Governmental Activities		 $ (5,029,087)  $	4,923,128   $	427,318   $	814,759 		1,136,118	

General Revenues			
		Miscellaneous revenues		112,304	
		Investment earnings			194,000 	
		Total General Revenues			306,304 	
		Change in Net Position		1,442,422	
		Net Position - October 1, 2022			(45,216,791)	
		Net Position - September 30, 2023		 $ (43,774,369)	

See accompanying notes to financial statements.

- 11 -

Boggy Creek Improvement District	
BALANCE SHEET -	
GOVERNMENTAL FUNDS	
September 30, 2023	
										
Total	
						Capital		Governmental	
		General		 Debt Service		Projects				Funds		
ASSETS						
Cash	$	511,234	$	-	$	13,135		$	524,369	
Investments		1,376			-			-		1,376	
Assessments receivable		76,272			-			-		76,272	
Accrued interest receivable		-	26,722			160		26,882	
Due from developer		19,378			-			33,592		52,970	
Due from other governments		46,012			-			286		46,298	
Prepaid expenses		1,719			-			-		1,719	
Deposits		5,000			-			-		5,000	
Restricted assets											
Cash and investments		- 		6,078,263 		36,715 			6,114,978 	
Total Assets	$	660,991	$6,104,985		$	83,888		$ 6,849,864	

LIABILITIES, DEFERRED INFLOWS OF											
RESOURCES AND FUND BALANCES											
Liabilities											
Accounts payable and accrued liabilities	$	89,818		$	-	$	-		$	89,818	
Contracts payable		- 		- 		63,239 			63,239 	
Total Liabilities		89,818 		- 		63,239 			153,057 	
Deferred Inflows of Resources											
Unavailable revenues		- 		- 		33,592 			33,592 	
Fund Balances											
Nonspendable - deposits/prepaids		6,719			-			-		6,719	
Assigned for capital projects		-			-			24,997		24,997	
Restricted for debt service		-	6,104,985			-		6,104,985	
Restricted for capital projects		-			-			(37,940)		(37,940)	
Unassigned		564,454 		- 		- 			564,454 	
Total Fund Balances		571,173 		6,104,985 		(12,943)			6,663,215 	
Total Liabilities, Deferred Inflows of											
Resources and Fund Balances	$	660,991	$6,104,985		$	83,888		$ 6,849,864	

RECONCILIATION OF TOTAL GOVERNMENTAL FUND BALANCES TO NET POSITION OF GOVERNMENTAL ACTIVITIES
September 30, 2023

Total Governmental Fund Balances	$	6,663,215	
Amounts reported for governmental activities in the Statement of Net Position			
are different because:			
Capital assets, land, $1,913,034, construction in progress, $4,132,926,			
improvements other than buildings, $70,888, infrastructure, $1,428,817, and			
equipment, $700,000, net of accumulated depreciation, $(389,432), used			
in governmental activites are not current financial resources and therefore,			
are not reported at the fund level.		7,856,233	
Deferred outflows of resources, deferred amount on refunding, net, are not			
current financial resources and therefore, are not reported at the			
governmental fund level.		3,633,343	
Long-term liabilities, including bonds payable, $(60,745,000), net of bond			
discounts, net, $701,810, notes payable, $(392,291), and financed purchases	
payable, $(426,196), are not due and payable in the current period and			
therefore, are not reported at the fund level.	(60,861,677)	
Unavailable revenues are recognized as a deferred inflow of resources at the			
fund level, however, at the government-wide level revenue is recognized			
when earned.		33,592	
Accrued interest expense for long-term debt is not a current financial use and therefore, is not reported at the governmental fund level.	
	(1,099,075)	

Net Position of Governmental Activities	
$ (43,774,369)	

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS
For the Year Ended September 30, 2023

						Total	
				Capital	Governmental	
		General		 Debt Service 		Projects			Funds		
REVENUES					
Special assessments	$	926,665	$ 3,996,463	$	-	$ 4,923,128	
Developer contributions		393,726	-		-	393,726	
Miscellaneous revenues		-	112,304		-	112,304	
Interest income		6,927 		184,583 		2,490 		194,000 	
Total Revenues		1,327,318 		4,293,350 		2,490 		5,623,158 	
EXPENDITURES							
Current							
General government		106,058	-		-	106,058	
Physical environment		711,915	-		-	711,915	
Transportation		247,406	-		-	247,406	
Capital outlay		-	-		256,195	256,195	
Debt service							
Principal		137,914	19,159,853		-	19,297,767	
Interest		8,406	3,221,882		-	3,230,288	
Other		- 		226,368 		163,491 		389,859 	
Total Expenditures		1,211,699 	  22,608,103 		419,686 		24,239,488 	
Excess revenues over/(under) expenditures		115,619	(18,314,753)		(417,196)	(18,616,330)	
Other Financing Sources/(Uses)							
Draws from bond anticipation notes		-	706,741		80,780	787,521	
Issuance of long-term debt		-	17,295,093		174,907	17,470,000	
Transfers in		-	-		117,342	117,342	
Transfers out		- 		(117,342)		- 		(117,342)	
Total Other Financing Sources/(Uses)		- 	  17,884,492 		373,029 		18,257,521 	
Net Change in Fund Balances		115,619	(430,261)		(44,167)	(358,809)	
Fund Balances - October 1, 2022		455,554 		6,535,246 		31,224 		7,022,024 	
Fund Balances - September 30, 2023	 $		571,173 	 $ 6,104,985 	 $		(12,943)	 $ 6,663,215 	

RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
For the Year Ended September 30, 2023

Net Change in Fund Balances - Total Governmental Funds	$	(358,809)	
Amounts reported for governmental activities in the Statement of Activities are different because:			
Capital outlay is reported as expenditures at the fund level. At the government-wide level, it is reported as additions to capital assets. This is the difference between capital outlay, $256,195, and depreciation, $(192,353).		

63,842	
The contribution of land, $1,207,050, net of the issuance of a note payable, $(392,291), did not utilize current resources so it was not recognized at the fund level.		
814,759	
The issuance of long-term debt is recognized as an other financing source at the fund level, however, it increase liabilities at the government-wide level.	
(17,470,000)	
Repayments of principal are expenditures at the fund level, but the repayments reduce long-term liabilities in the Statement of Net Position.	
19,297,767	
Bond anticipation note proceeds are reflected as an other financing source
at the fund level, however, they are reflected as an addition to liabilities at the government-wide level.		

(787,521)	
Governmental funds report bond discounts as expenditures. However, in the Statement of Activities, the cost is allocated as expense.		
(35,090)	
Deferred outflows of resources for refunding debt is recognized as a component of interest on long term debt in the Statement of Activities, but not in the governmental funds. This is the amount of interest in the current year period.		

(279,488)	
Unavailable revenues are recognized as a deferred inflow of resources at the fund level.
This is the current year change in deferred inflows of resources.		
33,592	
In the Statement of Activities, interest is accrued on outstanding bonds; whereas in governmental funds, interest expenditures are reported when due. This is the net amount between the prior year and current year accruals.		

     163,370 	

Change in Net Position of Governmental Activities	 $	1,442,422 

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - GENERAL FUND
For the Year Ended September 30, 2023

Variance with
								Final Budget	
	Original			Final				Positive	
	Budget			Budget		Actual		(Negative)	
Revenues									
Special assessments	$ 920,455		$ 920,455	$	926,665	$	6,210	
Developer contributions	725,320		725,320		393,726		(331,594)	
Interest income		100 			100 			6,927 			6,827 	
Total Revenues	 1,645,875 		 1,645,875 			1,327,318 			(318,557)	
Expenditures									
Current									
General government	142,285		142,285		106,058		36,227	
Physical environment	892,184		892,184		711,915		180,269	
Transportation	725,320		725,320		247,406		477,914	
Debt Service									
Principal		-		-		137,914		(137,914)	
Interest		- 			- 			8,406 			(8,406)	
Total Expenditures	 1,759,789 		 1,759,789 			1,211,699 			548,090 	
Excess revenues over/(under)									
expenditures	(113,914)		(113,914)		115,619		229,533	
Fund Balances - October 1, 2022		113,914 			113,914 			455,554 			341,640 	
Fund Balances - September 30, 2023	$	-		$	-	$  571,173	$	571,173	

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements of Boggy Creek Improvement District (the District) have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The District's more significant accounting policies are described below.
Reporting Entity
The District was established in 2001 by an ordinance of the City Council of Orlando, Florida, under the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the "Act"), as a Community Development District. The District was established for the purposes of financing and managing the acquisition, construction, maintenance and operation of the infrastructure necessary for community development within its jurisdiction. The District is governed by a five-member Board of Supervisors. The District operates within the criteria established by Chapter 190, Florida Statutes. 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, and financing improvements.
The reporting entity for the District includes all functions of government in which the District’s Board exercises oversight responsibility. Oversight responsibility includes, but is not limited to, financial interdependency, designation of management, significant ability to influence operations and accountability for fiscal matters. As required by GAAP, these financial statements present the Boggy Creek Improvement District (the primary government) as a stand-alone government.
Based upon the application of the above-mentioned criteria as set forth by the Governmental Accounting Standards Board, the District has identified no component units.
Measurement Focus and Basis of Accounting

The basic financial statements of the District are composed of the following:

Government-wide financial statements
Fund financial statements
Notes to financial statements

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Measurement Focus and Basis of Accounting (Continued)

Government-wide Financial Statements

The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Government-wide financial statements report all non-fiduciary information about the reporting government as a whole. These statements include the governmental activities of the primary government. The effect of interfund activity has been removed from these statements.

Governmental activities are supported by special assessments and interest. Program revenues include charges for services, and payments made by parties outside of the reporting government’s citizenry if that money is restricted to a particular program. Program revenues are netted with program expenses in the statement of activities to present the net cost of each program.
Amounts paid to acquire capital assets are capitalized as assets, rather than reported as an expenditure. Proceeds of long-term debt are recorded as liabilities in the government-wide financial statements, rather than as an other financing source.

Amounts paid to reduce long-term indebtedness of the reporting government are reported as a reduction of the related liability, rather than as an expenditure.
Fund Financial Statements

The underlying accounting system of the District is organized and operated on the basis of separate funds, each of which is considered to be a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses, as appropriate. Governmental resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled.
Fund financial statements for the primary government’s governmental funds are presented after the government-wide financial statements. These statements display information about major funds individually.

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

2. Measurement Focus and Basis of Accounting (Continued)

b. Fund Financial Statements (Continued) Governmental Funds
The District has implemented the Governmental Accounting Standards Board Statement 54 – Fund Balance Reporting and Governmental Fund Type Definitions. The Statement requires the fund balance for governmental funds to be reported in classifications that comprise a hierarchy based primarily on the extent to which the government is bound to honor constraints on the specific purposes for which amounts in those funds can be spent.

The District has various policies governing the fund balance classifications.

Nonspendable Fund Balance – This classification consists of amounts that cannot be spent because they are either not in spendable form or are legally or contractually required to be maintained intact.
Restricted Fund Balance – This classification includes amounts that can be spent only for specific purposes stipulated by the state constitution, external resource providers, or through enabling legislation.

Assigned Fund Balance – This classification consists of the Board of Supervisors’ intent to be used for specific purposes, but are neither restricted nor committed. The assigned fund balances can also be assigned by the District’s management company.
Unassigned Fund Balance – This classification is the residual classification for the government’s general fund and includes all spendable amounts not contained in the other classifications. Unassigned fund balance is considered to be utilized first when an expenditure is incurred for purposes for which amounts in any of those unrestricted fund balance classifications could be used.

Fund Balance Spending Hierarchy – For all governmental funds except special revenue funds, when restricted, committed, assigned, and unassigned fund balances are combined in a fund, qualified expenditures are paid first from restricted or committed fund balance, as appropriate, then assigned and finally unassigned fund balances.

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Measurement Focus and Basis of Accounting (Continued)

b. Fund Financial Statements (Continued) Governmental Funds (Continued)
Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are considered to be available when they are collected within the current period or soon thereafter to pay liabilities of the current period. For this purpose, the District considers revenues to be available if they are collected within 60 days of the end of the current fiscal period.

Expenditures generally are recorded when a liability is incurred, as under accrual accounting. Interest associated with the current fiscal period is considered to be an accrual item and so has been recognized as revenue of the current fiscal period.
Under the current financial resources measurement focus, only current assets and current liabilities are generally included on the balance sheet. The reported fund balance is considered to be a measure of “available spendable resources”. Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources and uses of “available spendable resources” during a period.

Because of their spending measurement focus, expenditure recognition for governmental fund types excludes amounts represented by non-current liabilities. Since they do not affect net current assets, such long-term amounts are not recognized as governmental fund type expenditures or fund liabilities.

Amounts expended to acquire capital assets are recorded as expenditures in the year that resources were expended, rather than as fund assets. The proceeds of long-term debt are recorded as an other financing source rather than as a fund liability.
Debt service expenditures are recorded only when payment is due.

Basis of Presentation

Governmental Major Funds

General Fund – The General Fund is the District’s primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund.

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Basis of Presentation (Continued)

Governmental Major Funds (Continued)
Debt Service Fund – Accounts for debt service requirements for the annual payment of principal and interest on long-term debt

Capital Projects Fund – The Capital Projects Fund accounts for construction of infrastructure improvements within the boundaries of the District.
Non-current Governmental Assets/Liabilities

GASB Statement 34 requires that non-current governmental assets, such as land and buildings, and non-current governmental liabilities, such as special assessment bonds, be reported in the governmental activities column in the government-wide Statement of Net Position.

Assets, Deferred Outflows of Resources, Liabilities, Deferred Inflows of Resources and Net Position or Equity
Cash and Investments

Florida Statutes require state and local governmental units to deposit monies with financial institutions classified as "Qualified Public Depositories," a multiple financial institution pool whereby groups of securities pledged by the various financial institutions provide common collateral from their deposits of public funds. This pool is provided as additional insurance to the federal depository insurance and allows for additional assessments against the member institutions, providing full insurance for public deposits.

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Assets, Deferred Outflows of Resources, Liabilities, Deferred Inflows of Resources and Net Position or Equity (Continued)
Cash and Investments (Continued)
The District is authorized to invest in those financial instruments as established by Section 218.415, Florida Statutes. The authorized investments consist of:
Direct obligations of the United States Treasury;
The Local Government Surplus Funds Trust or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperative Act of 1969;
Interest-bearing time deposits or savings accounts in authorized qualified public depositories;
Securities and Exchange Commission, registered money market funds with the highest credit quality rating from a nationally recognized rating agency.
Cash equivalents include time deposits and certificates of deposit with original maturities of three months or less and held in a qualified public depository as defined by Section 280.02, Florida Statutes.
Restricted Assets
Certain net position of the District are classified as restricted assets on the Statement of Net Position because their use is limited either by law through constitutional provisions or enabling legislation; or by restrictions imposed externally by creditors. In a fund with both restricted and unrestricted assets, qualified expenses are considered to be paid first from restricted net position and then from unrestricted net position.
Capital Assets
Capital assets, which include land and land improvements, construction in progress, improvements other than buildings, infrastructure and equipment, are reported in the applicable governmental activities column.
The District defines capital assets as assets with an initial, individual cost of $5,000 or more and an estimated useful life in excess of one year. The valuation basis for all assets is historical cost.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend its useful life are not capitalized.
Major outlays for capital assets and improvements are capitalized as projects are constructed.
Depreciation of capital assets is computed and recorded by utilizing the straight-line method. Estimated useful lives of improvements other than buildings are 15 years, infrastructure is 30 years and equipment 5 years.

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

4. Assets, Deferred Outflows of Resources, Liabilities, Deferred Inflows of Resources and Net Position or Equity (Continued)
Deferred Outflows/Inflows of Resources

Deferred outflows of resources is the consumption of net position by the government that is applicable to a future reported period. Deferred amount on refunding is amortized and recognized as a component of interest expense over the life of the bond.

Deferred inflows of resources represent an acquisition of net position that applies to a future reporting period(s) and so will not be recognized as an inflow of resources (revenue) until then. The District only has one time that qualifies for reporting in the category. Unavailable revenues are reported only in the governmental funds balance sheet. This amount is deferred and recognized as an inflow of resources in the period that amounts become available.
Budgets

Budgets are prepared and adopted after public hearings for the governmental funds, pursuant to Chapter 190, Florida Statutes. The District utilizes the same basis of accounting for budgets as it does for revenues and expenditures in its various funds. The legal level of budgetary control is at the fund level. All budgeted appropriations lapse at year end. Formal budgets are adopted for the general and debt service funds. As a result, deficits in the budget variance columns of the accompanying financial statements may occur.
Unamortized Bond Discount
Bond discounts are presented on the government-wide financial statements. The costs are amortized over the life of the bonds using the method of accounting. For financial reporting, the unamortized bond discount is netted against the applicable long-term debt.

NOTE	B	–		RECONCILIATION	OF	GOVERNMENT-WIDE	AND	FUND	FINANCIAL STATEMENTS

1. Explanation of Differences Between the Governmental Fund Balance Sheet and the Government-wide Statement of Net Position
“Total fund balances” of the District’s governmental funds, $6,663,215, differs from “net position” of governmental activities, $(43,774,369), reported in the Statement of Net Position. This difference primarily results from the long-term economic focus of the Statement of Net Position versus the current financial resources focus of the governmental fund balance sheet. The effect of the differences is illustrated on the next page.

NOTE	B	–		RECONCILIATION	OF	GOVERNMENT-WIDE	AND	FUND	FINANCIAL STATEMENTS (CONTINUED)
Explanation of Differences Between the Governmental Fund Balance Sheet and the Government-wide Statement of Net Position (Continued)
Capital related items
When capital assets (that are to be used in governmental activities) are purchased or constructed, the cost of those assets is reported as expenditures in governmental funds. However, the statement of net position included those capital assets among the assets of the District as a whole.

Land and land improvements	$	1,913,034	
Infrastructure	1,428,817	
Improvements other than buildings	70,888	
Equipment	700,000	
Construction in progress	4,132,926	
Accumulated depreciation		(389,432)	
Total	$	7,856,233	
Deferred outflows of resources
Deferred outflow of resources are not financial resources, and therefore, are not recognized at the fund level.
Deferred amount on refunding, net	$	3,633,343
Long-term debt transactions
Long-term liabilities applicable to the District’s governmental activities are not due and payable in the current period and accordingly are not reported as fund liabilities. All liabilities (both current and long-term) are reported in the Statement of Net Position.

Balances at September 30, 2023 were:	
Bonds payable Notes payable Bond discount, net
Financed purchase payable Total	$

$ 	(60,745,000)
(392,291)
701,810
   (426,196) (60,861,677)	

NOTE	B	–		RECONCILIATION	OF	GOVERNMENT-WIDE	AND	FUND	FINANCIAL STATEMENTS (CONTINUED)

Explanation of Differences Between the Governmental Fund Balance Sheet and the Government-wide Statement of Net Position (Continued)
Deferred Inflows of Resources
Unavailable revenues are recognized as a deferred inflow of resources at the fund level, however revenue is recognized when earned at the government-wide level.
Unavailable revenues	$	33,592
Accrued interest
Accrued liabilities in the Statement of Net Position differ from the amount reported in governmental funds due to accrued interest on bonds.
Accrued interest	$	(1,099,075)
Explanation of Differences Between the Governmental Fund Operating Statements and the Statement of Activities
The “net change in fund balances” for government funds, $(358,809), differs from the “change in net position” for governmental activities, $1,442,422, reported in the statement of activities. The differences arise primarily from the long-term economic focus of the Statement of Activities versus the current financial resources focus of the governmental funds. The effect of the differences is illustrated below.
Capital related items
When capital assets that are to be used in governmental activities are purchased or constructed, the resources expended for those assets are reported as expenditures in governmental funds. However, the cost of those assets are capitalized at the government wide level and allocated over their estimated useful lives and reported as depreciation. As a result, fund balances decrease by the amount of financial resources expended, whereas, net position changes by the amount of capital additions net of any depreciation charged for
the year.		
Capital outlay	$	256,195	
Depreciation		(192,353)	
Total	$	63,842	
Contribution of land	$	1,207,050	
Less note payable		(392,291)	
Total	$	814,759	

NOTE	B	–		RECONCILIATION	OF	GOVERNMENT-WIDE	AND	FUND	FINANCIAL STATEMENTS (CONTINUED)
Explanation of Differences Between the Governmental Fund Operating Statements and the Statement of Activities (Continued)
Long-term debt transactions
Repayments of principal are reported as an expenditure in the governmental funds and, thus, have the effect of reducing fund balance because current financial resources have been used.

Debt principal payments	$	19,297,767	
Long term debt issuance	(18,257,521)	
Bond discount amortization		(35,090)	
Total	$	(1,005,156)	
Some expenses reported in the Statement of Activities do not require the use of current financial resources, therefore, are not reported as expenditures in governmental funds.

Net change in accrued interest payable	$	163,370	
Decrease in deferred amount on refunding		(279,488)	
Total	$	(116,118)	
Deferred inflows of resources
Unavailable revenues are recognized as deferred inflows of resources at the fund level. This is the current year change in deferred inflows of resources.
Change in unavailable revenues	$	33,592

NOTE C – CASH AND INVESTMENTS

All deposits are held in qualified public depositories and are included on the accompanying balance sheet as cash and investments.
Custodial Credit Risk – Deposits
Custodial credit risk is the risk that in the event of a bank failure, the District's deposits may not be returned to it. The District does not have a formal deposit policy for custodial credit risk, however, they follow the provisions of Chapter 280, Florida Statutes regarding deposits and investments. As of September 30, 2023, the District's bank balance was $524,446 and the carrying value was $524,369. Exposure to custodial credit risk was as follows. The District maintains all deposits in a qualified public depository in accordance with the provisions of Chapter 280, Florida Statutes, which means that all deposits are fully insured by Federal Depositors Insurance or collateralized under Chapter 280, Florida Statutes.
Investments
As of September 30, 2023, the District had the following investments and maturities:

		Investment	 Florida PRIME
Managed Money Market Total	 Maturities  35 days* N/A		Fair Value	
$	1,376
	6,114,978 
 $  6,116,354 	
* Weighted Average Maturity			
The District categorizes its fair value measurements within the fair value hierarchy recently established by generally accepted accounting principles. The fair value is the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. The District uses a market approach in measuring fair value that uses prices and other relevant information generated by market transactions involving identical or similar assets, liabilities, or groups of assets and liabilities.
Assets or liabilities are classified into one of three levels. Level 1 is the most reliable and is based on quoted prices for identical assets, or liabilities, in an active market. Level 2 uses significant other observable inputs when obtaining quoted prices for identical or similar assets, or liabilities, in markets that are not active. Level 3 is the least reliable and uses significant unobservable inputs that use the best information available under the circumstances, which includes the District’s own data in measuring unobservable inputs.
Based on the criteria in the preceding paragraph, the investments in Managed Money Market Funds are Level 1 assets.

NOTE C – CASH AND INVESTMENTS (CONTINUED)
Investments (Continued)

The District’s investment policy allows management to invest funds in investments permitted under Section 218.415, Florida Statutes. The investment in Florida PRIME is measured at amortized cost. Florida PRIME has established policies and guidelines regarding participant transactions and the authority to limit or restrict withdrawals or impose a penalty for an early withdrawal. As of September 30, 2023, there were no redemption fees, maximum transaction amounts, or any other requirements that would limit daily access to 100 percent of the account value.

Interest Rate Risk

The District does not have a formal investment policy that limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates.
Credit Risk

The District's investments are limited by state statutory requirements and bond compliance. The District has no investment policy that would further limit its investment choices. As of September 30, 2023 Florida PRIME was rated AAAm by Standard & Poor’s. The Managed Money Market funds were not rated by any nationally recognized agency.

Concentration of Credit Risk

The District places no limit on the amount it may invest in any one fund. The investments in the Managed Money Market was 99% of the District’s total investments. The investments in Florida PRIME were less than 1% of the District’s total investments.
The types of deposits and investments and their level of risk exposure as of September 30, 2023 were typical of these items during the fiscal year then ended.
The District considers any decline in fair value for certain investments to be temporary.

NOTE D – SPECIAL ASSESSMENT REVENUES
Assessments are non-ad valorem assessments on all assessable property within the District. Assessments are levied to pay for the operations and maintenance and debt service of the District. Operations and maintenance assessments are levied on an annual basis and debt service assessments are levied at the issuance of bonds and certified for collection on an annual basis. The fiscal year for which annual assessments are levied begins October 1 and, if collected using the Uniform Method of Collection, with the discounts available for payments through February 28 and become delinquent on April 1. Alternatively, the District adopts a resolution provided for the collection dates and directly collects the assessments.
NOTE E – CAPITAL ASSETS
Capital asset activity for the year ended September 30, 2023 was as follows:

Beginning			Ending	
		Balance		  Additions			Deletions	 		Balance		
Governmental Activities:					
Capital assets:						
Land and land improvements	$	705,984	$ 1,207,050	$	-	$	1,913,034	
Construction in progress		3,876,731	256,195	-	4,132,926	
Infrastructure		1,428,817	-	-	1,428,817	
Improvements other than buildings		70,888	-	-	70,888	
Equipment		700,000	-	-	700,000	
Accumulated depreciation		(197,079)		(192,353)		-  		(389,432)	
Total Capital Assets	 $		6,585,341 	 $ 1,270,892 	 $	-   $	7,856,233 	
Depreciation was charged to physical environment, $52,353, and transportation, $140,000.
NOTE F – LONG-TERM DEBT
The following is a summary of activity for long-term debt of the District for the year ended September 30, 2023:

Long-term debt at October 1, 2022	$	61,647,332	
Debt proceeds	18,649,812	
Principal payments		(19,159,853)	
Long-term Debt at September 30, 2023	61,137,291	
Less: bond discount, net		(701,810)	
Total Long-Term Debt, net, September 30, 2023	$	60,435,481	
$56,815,000 Series 2013 Special Assessment Revenue and Revenue Refunding Bonds due in annual principal installments		
beginning May 2014 and maturing May 2043. Interest at a rate of		
5.125% due in May and November beginning November 2013.		
Current portion is $1,770,000.	$	43,275,000	
$17,470,000 Series 2023 Special Assessment Revenue Refunding		
Bonds due in annual principal installments beginning May 2024		
and maturing May 2053. Interest at a rate from 4.5% – 5.375% due		
in March and November beginning November 2023. Current		
portion is $215,000.	$	17,470,000	

NOTE F – LONG-TERM DEBT (CONTINUED)
In June 2023, the District entered into a promissory note for the acquisition of interchange ponds in the amount of $392,291 to be
paid upon issuance of bonds.	$	392,291
The annual requirements to amortize the principal and interest of bonded debt outstanding as of September 30, 2023 are as follows:

Year Ending

2025	2,145,000	3,014,512	5,159,512	
2026	2,250,000	2,906,362	5,156,362	
2027	2,365,000	2,792,894	5,157,894	
2028	2,485,000	2,673,625	5,158,625	
2029-2033	14,425,000	11,357,261	25,782,261	
2034-2038	18,485,000	7,303,618	25,788,618	
2039-2043	7,730,000	3,613,105	11,343,105	
2044-2048	3,860,000	1,991,706	5,851,706	
2049-2053		5,015,000 		836,888 		5,851,888 	
Totals	 $	60,745,000 	 $	39,408,017 	 $ 100,153,017 	

 September 30,				Principal				Interest				 Total	 2024			$		1,985,000			$		2,918,046			$	4,903,046

Future payments on the promissory note are not included in the above amortization schedule as it is unknown when District will begin payments.
Summary of Significant Bonds Resolution Terms and Covenants

The District levies special assessments pursuant to Section 190.022, Florida Statutes and the assessment rolls are approved by resolutions of the District Board. The collections are to be strictly accounted for and applied to the debt service of the bond series for which they were levied. The District covenants to certify for collection of special assessments in annual amounts adequate to provide for payment of principal and interest on the bonds. Payment of principal and interest is dependent on the money available in the debt service fund and the District’s ability to collect special assessments levied.
The Series 2013 and 2023 Bonds are subject to redemption at the option of the District and are also subject to extraordinary mandatory redemption prior to maturity in whole on any date, or in part on an interest payment date, without premium, together with accrued interest to the redemption date if monies are available to retire the debt in accordance with the provisions of the Indenture.

NOTE F – LONG-TERM DEBT (CONTINUED)
Summary of Significant Bonds Resolution Terms and Covenants (Continued)
The Bond Indenture established a debt service reserve requirement. The Indenture requires that the District maintain adequate funds in the reserve account to meet the debt service requirements as defined in the Trust Indenture.
The bond indenture provides for Debt Service Reserve Funds, which shall be held by the Trustee separate and apart from all other funds. The following is a schedule of reserve requirements and balances in the reserve accounts at September 30, 2023:

	Reserve		Reserve	

Special Assessment Revenue and Revenue Refunding Bonds
Series 2013
Series 2023	Balance

$ 3,946,022
$	586,316	

$
$	Requirement

3,942,488
579,609	
NOTE G – FINANCED PURCHASE				

During the year ended September 30, 2021, the District entered into a financed purchase agreement for autonomous vehicles. The agreement has an end of finance purchase option which qualifies it as a financed purchase; therefore, the asset has been recorded at the present value of the future minimum payments. The agreement, in the total amount of $700,000, commenced in July 2021 for a term of 5 annual payments.
The annual requirements to amortize the principal and interest of the financed purchase as of September 30, 2023 were as follows:

Year Ending	
 September 30, 		Principal			Interest			Total		
2024	$	139,969	$	6,351	$	146,320	
2025	142,055	4,265	146,320	
2026		144,172 		2,148 		146,320 	
Totals	 $	426,196 	 $	12,764 	 $	438,960 	

NOTE H – ECONOMIC DEPENDENCY

A significant portion of the District's activity is dependent upon continued involvement of the Developer, the loss of which could have a material adverse effect on the District's operations. At September 30, 2023, the Developer owned a significant amount of the assessable property located within the District's boundaries.

NOTE I – RELATED PARTY TRANSACTIONS
Four members of the Board of Supervisors are affiliated with the Developer or a related entity. The District received $393,726 in contributions and assessments from the Developer for the year ended September 30, 2023. Additionally, the District has $52,970 due from the Developer.
NOTE J – INTERLOCAL AGREEMENTS
The District previously entered into an interlocal agreement related to cost sharing for certain infrastructure projects with Myrtle Creek Improvement District ("Myrtle Creek") and Greeneway Improvement District ("Greeneway"). These districts are related through a common Developer. The agreement provides for the improvements to be constructed, acquired or otherwise provided by the District and that the District will be reimbursed for these costs from Myrtle Creek and Greeneway. The projected costs related to the agreement total approximately $33.8 million, with costs to be split 31.5% for Myrtle Creek, 32.5% for the District, and 36% for Greeneway. The District, Myrtle Creek, and Greeneway also previously entered into an agreement regarding interchange maintenance costs which was amended in Fiscal Year 2022 to include Midtown Improvement District (“Midtown”) with costs to be split 31.5% for Myrtle Creek, 24% for Greeneway, 12% for Midtown, and 32.5% for the District.
NOTE K – RISK MANAGEMENT
The District is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors and omissions; and natural disasters. The District maintains commercial insurance coverage to mitigate the risk of loss. Management believes such coverage is sufficient to preclude any significant uninsured losses to the District. The District has not filed any insurance claims in any of the previous three fiscal years.

NOTE L – INTERFUND TRANSFERS
Interfund transfers for the year ended September 30, 2023, consisted of the following:
Transfers Out Debt Service
Transfers In	Fund
Capital Projects Fund	 $	117,342 

The amount transferred from the Debt Service Fund to the Capital Projects Fund is in accordance with the Trust Indenture.

INDEPENDENT AUDITORS’ 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 Boggy Creek Improvement District Orlando, 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, as listed in the table of contents, of Boggy Creek Improvement District, as of and for the year ended September 30, 2023, and the related notes to the financial statements, which collectively comprise the basic financial statements and have issued our report thereon dated May 23, 2024.

Report on Internal Control Over Financial Reporting
In planning and performing our audit, we considered Boggy Creek Improvement District's internal control over financial reporting (internal control) as a basis for designing 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 Boggy Creek Improvement District’s internal control. Accordingly, we do not express an opinion on the effectiveness of Boggy Creek Improvement 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 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 or significant deficiencies may exist that have not been identified.

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To the Board of Supervisors Boggy Creek Improvement District

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether Boggy Creek Improvement District's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant 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.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida May 23, 2024

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MANAGEMENT LETTER
To the Board of Supervisors Boggy Creek Improvement District Orlando, Florida
Report on the Financial Statements
We have audited the financial statements of the Boggy Creek Improvement District as of and for the year ended September 30, 2023, and have issued our report thereon dated May 23, 2024.
Auditor’s Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States; 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 Financial Statements Performed in Accordance with Government Auditing Standards and our Independent Auditor’s Report on an examination conducted in accordance with AICPA Professionals 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 May 23, 2024, should be considered in conjunction with this management letter.
Prior Audit Findings
Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding financial audit report. There were no findings or recommendations in the preceding financial audit report.
Financial Condition and Management
Section 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, require us to apply appropriate procedures and communicate the results of our determination as to whether or not Boggy Creek Improvement District has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific conditions met. In connection with our audit, we determined that Boggy Creek Improvement District did not meet any of the conditions described in Section 218.503(1), Florida Statutes.

- 35 -

To the Board of Supervisors Boggy Creek Improvement District
Pursuant to Sections 10.554(1)(i)5.b. and 10.556(8), Rules of the Auditor General, we applied financial condition assessment procedures for Boggy Creek Improvement District. It is management’s responsibility to monitor the Boggy Creek Improvement District’s financial condition; our financial condition assessment was based in part on the representations made by management and the review of the financial information provided by the same as of September 30, 2023.
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations.
Specific Information
The information provided below was provided by management and has not been audited; therefore, we do not express an opinion or provide any assurance on the information.
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor General, the Boggy Creek Improvement District reported:
The total number of district employees compensated in the last pay period of the District’s fiscal year: 0
The total number of independent contractors to whom nonemployee compensation was paid in the last month of the District’s fiscal year: 2
All compensation earned by or awarded to employees, whether paid or accrued, regardless of contingency: $0
All compensation earned by or awarded to nonemployee independent contractors, whether paid or accrued, regardless of contingency: $242,877
Each construction project with a total cost of at least $65,000 approved by the District that is scheduled to begin on or after October 1, 2022, together with the total expenditures for such project: N/A
A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes, before the beginning of the fiscal year being reported if the District amends a final adopted budget under Section 189.016(6), Florida Statutes: The budget was not amended.
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)8, Rules of the Auditor General, the Boggy Creek Improvement District reported:
The rate or rates of non-ad valorem special assessments imposed by the District. O&M:
$603.02-$824.16 DS: $623.87-$779.84.
The amount of special assessments collected by or on behalf of the District: Total special assessments collected was $4,923,128.
The total amount of outstanding bonds issued by the District and the terms of such bonds. Series 2013 Bonds, $43,275,000 maturing in May 2043 and Series 2023,
$17,470,000, maturing May 2053.

- 36 -

To the Board of Supervisors Boggy Creek Improvement District
Additional Matters
Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate 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 warrants the attention of those charged with governance. In connection with our audit, we did not note any such findings.
Purpose of this Letter

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, the Board of Supervisors, and applicable management, and is not intended to be and should not be used by anyone other than these specified parties.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida May 23, 2024

- 37 -

INDEPENDENT ACCOUNTANTS’ REPORT/COMPLIANCE WITH SECTION 218.415, FLORIDA STATUTES

To the Board of Supervisors Boggy Creek Improvement District Orlando, Florida

We have examined Boggy Creek Improvement District's compliance with Section 218.415, Florida Statutes during the year ended September 30, 2023. Management is responsible for Boggy Creek Improvement District’s compliance with those requirements. Our responsibility is to express an opinion on Boggy Creek Improvement 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 and, accordingly, included examining, on a test basis, evidence about Boggy Creek Improvement District’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on Boggy Creek Improvement District’s compliance with the specified requirements.

In our opinion, Boggy Creek Improvement District complied, in all material respects, with the aforementioned requirements during the year ended September 30, 2023.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida May 23, 2024

- 38 -

BOGGY CREEK IMPROVEMENT DISTRICT

Operation and Maintenance Expenditures Paid in May 2024 in an amount totaling $124,901.79

BOGGY CREEK IMPROVEMENT DISTRICT
DISTRICT OFFICE ● 3501 QUADRANGLE BLVD STE 270 ● ORLANDO, FL 32817 PHONE: (407) 723-5900 ● FAX: (407) 723-5901

Operation and Maintenance Expenditures For Board Approval

Attached please find the check register listing Operations and Maintenance expenditures paid from May 1, 2024 through May 31, 2024. This does not include expenditures previously approved by the Board.

The total items being presented:    $124,901.79

Approval of Expenditures:

	 Chairman

	 Vice Chairman

	 Assistant Secretary

				Boggy Creek Improvement District AP Check Register (Current by Bank) Check Dates: 5/1/2024 to 5/31/2024		
Check No.	Date	Status*	Vendor ID	Payee Name	Amount	
						
BANK ID: OM-ACH - CIT& NATIONAL BANK - ACH ( )IRES		001-101-0000-00-01	
(000) (000 	5/0 /24
5/2)/24	 
 	B++P B++P	Bee$% &nc' Bee$% &nc'	*20%30 '1(
*21%01(' 2	
				BANK OM-ACH REGISTER TOTAL:	
$41,327.09	
BANK ID: SUN - CIT& NATIONAL BANK			001-101-0000-00-01	
)	5/03/24	P	,-.A,	,utak Rock	*1%0(1'00	
	5/03/24	P	.R-/.+	-/ Bank as .rustee 0or Boggy C	*350%052'0)	
5/10/24	P	A2C	A1uatic 2ee3 Contro4% &nc'	*)35'00	
1	5/15/24	P	C+PRA	Ce$ra 5an3sca$e	* %1 4'00	
5/15/24	P	6-C	6r4an3o -ti4ities Co77ission	*11% '01	
5/23/24	P	B+RC68	Ber7an Construction	*3%000'01	
5/23/24	P	C+PRA	Ce$ra 5an3sca$e	*4)%(5 ')5	
5	5/24/24	P	D9/ <	De$t' o0 9:y /a0ety ; otor <e	* 4'00	
	5/24/24	P	6R5/+8	6r4an3o /entine4	*21 '50	
(	5/24/24	P	P= >C	P= >rou$ Consu4ting	*3 '32	
		BANK SUN REGISTER TOTAL:	
$421,930.77	
		GRAND TOTAL	
$463,257.86	

* Check Status Types: "P" - Printed ; "M" - Manual ; "V" - Void ( Void Date ); "A" - Application; "E" - EFT
** Denotes broken check sequence.

Bill To:
Move Nona LLC
6900 Tavistock Lakes Blvd, Suite #200
Orlando, FL 32827	

Funding Request #063
4/12/2024	
Item No.	Payee	Invoice Number		General Fund	

1	
BEEP
Shuttle Services Provided - 2 Vans				
		535	$	20,309.17	

TOTAL	$  20,309.17

Payment Authorization #632
4/26/2024		
Item No.		Payee	Invoice Number	General Fund	

1	
Kutak Rock		
3381433	
$	1,071.00	
			
TOTAL	
$	1,071.00	

Bill To:
Move Nona LLC
6900 Tavistock Lakes Blvd, Suite #200
Orlando, FL 32827	

Funding Request #064
4/26/2024	
Item No.	Payee	Invoice Number	General Fund	

1	Orange County Tax Collector
Year Registration Renewal on BEEP Vans	--	$	94.00

TOTAL	$	94.00

Payment Authorization #633
5/3/2024		
Item No.	Payee	Invoice Number	General Fund	

1

2	Aquatic Weed Control Berman Construction	
95863

44769	
$

$	
835.00

3,000.01	
3	Cepra Landscape Cepra Landscape	O-S5950 O-S5959	$
$	23,927.08
24,832.77	
		
TOTAL	
$	
52,594.86	

Bill To:
Move Nona LLC
6900 Tavistock Lakes Blvd, Suite #200
Orlando, FL 32827			

Funding Request #065
5/10/2024
Item	Payee
No.	

Invoice Number	

General Fund	

1	BEEP, Inc.
Shuttle Services Provided - 2 Vans	

554	

$  21,017.92	

TOTAL	$  21,017.92

Payment Authorization #634
5/10/2024

Item	Payee	Invoice	General	
No.		Number	Fund	

1	
Cepra Landscape	
O-S5921	
$	
270.00	
	Cepra Landscape	O-S5922	$	777.50	
	Cepra Landscape	O-S5923	$	153.00	
	Cepra Landscape	O-S5924	$	520.00	
	Cepra Landscape	O-S5925	$	267.50	
	Cepra Landscape	O-S5926	$	165.50	
	Cepra Landscape	O-S5927	$	612.00	
	Cepra Landscape	O-S5928	$	800.00	
	Cepra Landscape	O-S5929	$	717.50	
	Cepra Landscape	O-S5930	$	204.00	
	Cepra Landscape	O-S5931	$	622.00	
	Cepra Landscape	O-S5933	$	1,055.00	
2	OUC	--	$	11,696.01	
		
TOTAL	
$	
17,860.01	

Payment Authorization #635
5/17/2024

Item	Payee	Invoice	General	
No.		Number	Fund	

1	
Donald W McIntosh Associates	
45748	
$	
1,738.89	
2	Orlando Sentinel	OSC92123400	$	219.50	
3	PFM Group Consulting	130584	$	39.32	
		
TOTAL	
$	
1,997.71	

BOGGY CREEK IMPROVEMENT DISTRICT

Requisition Nos. 445-450
Paid in May 2024 in an amount totaling $9,731.46

BOGGY CREEK IMPROVEMENT DISTRICT
DISTRICT OFFICE ● 3501 QUADRANGLE BLVD STE 270 ● ORLANDO, FL 32817 PHONE: (407) 723-5900 ● FAX: (407) 723-5901

Requisition Recap For Board Approval

Attached please find the listing of requisitions approved to be paid from bond funds from May 1, 2024 through May 31, 2024. This does not include requisitions previously approved by the Board.

REQUISITION NO	.	PAYEE	AMOUNT	
2013-445	Donald W. McIntosh Associates	$995.00	
2013-446	Kutak Rock	$224.00	
2013-447	Atkins	$2,607.97	
2013-448	Donald W. McIntosh Associates	$4,386.24	
2013-449	Orlando Sentinel	$238.25	
2013-450	Kutak Rock	$1,280.00	
		$9,731.46	

By Amanda Lane at 4:58 pm, Apr 30, 2024

EXHIBIT "A"
FORM OF REQUISITION

The undersigned, an Authorized Officer of Boggy Creek Improvement District (the "District") hereby submits the following requisition for disbursement under and pursuant to the terms of the Master Trust Indenture from the District to U. S. Bank National Association as trustee (the "Trustee"), dated as of December 1, 2010 (the "Master Indenture"), as amended and supplemented by the Second Supplemental Indenture from the District to the Trustee, dated as of April 1, 2013 (the Master Indenture as amended and supplemented is hereinafter referred to as the "Indenture") (all capitalized terms used herein shall have the meaning ascribed to such term in the Indenture);
Requisition Number: 445

Name of Payee: Donald W. McIntosh Associates

Amount Payable: $995.00

Purpose for which paid or incurred (refer also to specific contract if amount is due and payable pursuant to a contract involving progress payments, or, state Costs of Issuance, if applicable):

Invoice 45621 for Project 23218 (Lake Nona Boggy Creek) Through 03/29/2024 – $675.00
Invoice 45625 for Project 22542 (Lake Nona South Lift Station No. 9 and 6,000 LF of 10” Force Main) Through 03/29/2024 – $320.00

Fund or Account and subaccount, if any, from which disbursement to be made: 2013 Acquisition and Construction Account of the Acquisition and Construction Fund.
The undersigned hereby certifies that obligations in the stated amount set forth above have been incurred by the District, that each disbursement set forth above is a proper charge against the Acquisition and Construction Account, that each disbursement set forth above was incurred in connection with the acquisition and construction of the Project and each represents a Cost of the Project, and has not previously been paid.

The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the moneys payable to the Payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.

The undersigned hereby further certifies that such requisition contains no item representing payment on account of any retained percentage which the District is at the date of such certificate entitled to retain.
No event has occurred and is continuing which constitutes an Event of Default, as defined by the Master Indenture, or would constitute and Event of Default but for the requirement that notice be given or time elapse or both.

By Amanda Lane at 4:58 pm, Apr 30, 2024

Attached hereto are originals of the invoice(s) from the vendor of the property acquired or services rendered with respect to which disbursement is hereby requested.
Boggy Creek Improvement District

Authorized Officer

CONSULTING ENGINEER'S APPROVAL FOR NON-COST OF ISSUANCE AND CAPITALIZED INTEREST REQUESTS ONLY

The undersigned Consulting Engineer hereby certifies that this disbursement is for a Cost of-the Project and is consistent with: (i) the applicable acquisition or construction contract; (ii) the plans and specifications for the portion of the Project with respect to which such disbursement is being made; and, (ii) the report of the District Engineer as such report shall have been amended or modified on the date hereof.

Authorized Officer
President

4/29/24

By Amanda Lane at 4:58 pm, Apr 30, 2024

EXHIBIT "A"
FORM OF REQUISITION

The undersigned, an Authorized Officer of Boggy Creek Improvement District (the "District") hereby submits the following requisition for disbursement under and pursuant to the terms of the Master Trust Indenture from the District to U. S. Bank National Association as trustee (the "Trustee"), dated as of December 1, 2010 (the "Master Indenture"), as amended and supplemented by the Second Supplemental Indenture from the District to the Trustee, dated as of April 1, 2013 (the Master Indenture as amended and supplemented is hereinafter referred to as the "Indenture") (all capitalized terms used herein shall have the meaning ascribed to such term in the Indenture);

(A)	Requisition Number: 446	
(B)	Name of Payee: Kutak Rock	
(C)	Amount Payable: $224.00	
(D)	Purpose for which paid or incurred (refer also to specific contract	
if amount is due and payable pursuant to a contract involving progress payments, or, state Costs of Issuance, if applicable):

Invoice 3381434 for Client Matter 3023-3 (Project Construction) through 03/31/2024

(E)  Fund or Account and subaccount, if any, from which disbursement to be made: 2013 Acquisition and Construction Account of the Acquisition and Construction Fund.

The undersigned hereby certifies that obligations in the stated amount set forth above have been incurred by the District, that each disbursement set forth above is a proper charge against the Acquisition and Construction Account, that each disbursement set forth above was incurred in connection with the acquisition and construction of the Project and each represents a Cost of the Project, and has not previously been paid.

The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the moneys payable to the Payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.

The undersigned hereby further certifies that such requisition contains no item representing payment on account of any retained percentage which the District is at the date of such certificate entitled to retain.
No event has occurred and is continuing which constitutes an Event of Default, as defined by the Master Indenture, or would constitute and Event of Default but for the requirement that notice be given or time elapse or both.

By Amanda Lane at 4:58 pm, Apr 30, 2024

Attached hereto are originals of the invoice(s) from the vendor of the property acquired or services rendered with respect to which disbursement is hereby requested.
Boggy Creek Improvement District

Authorized Officer

CONSULTING ENGINEER'S APPROVAL FOR NON-COST OF ISSUANCE AND CAPITALIZED INTEREST REQUESTS ONLY

The undersigned Consulting Engineer hereby certifies that this disbursement is for a Cost of-the Project and is consistent with: (i) the applicable acquisition or construction contract; (ii) the plans and specifications for the portion of the Project with respect to which such disbursement is being made; and, (ii) the report of the District Engineer as such report shall have been amended or modified on the date hereof.

Authorized Officer
President

4/29/24

EXHIBIT "A"
FORM OF REQUISITION

The undersigned, an Authorized Officer of Boggy Creek Improvement District (the "District") hereby submits the following requisition for disbursement under and pursuant to the terms of the Master Trust Indenture from the District to U. S. Bank National Association as trustee (the "Trustee"), dated as of December 1, 2010 (the "Master Indenture"), as amended and supplemented by the Second Supplemental Indenture from the District to the Trustee, dated as of April 1, 2013 (the Master Indenture as amended and supplemented is hereinafter referred to as the "Indenture") (all capitalized terms used herein shall have the meaning ascribed to such term in the Indenture);

RequisitionNumber: 447

Name of Payee: AtkinsRealis

Amount Payable: $2,607.97

Purpose for which paid or incurred (refer also to specific contract if amount is due and payable pursuant to a contract involving progress payments, or, state Costs of Issuance, if applicable):

Invoice 11-2016963 for Project Number 100078231 (Laureate Blvd at Veterans Way) through 04/30/2024

Fund or Account and subaccount, if any, from which disbursement to be made: 2013 Acquisition and Construction Account of the Acquisition and Construction Fund.

The undersigned hereby certifies that obligations in the stated amount set forth above have been incurred by the District, that each disbursement set forth above is a proper charge against the Acquisition and Construction Account, that each disbursement set forth above was incurred in connection with the acquisition and construction of the Project and each represents a Cost of the Project, and has not previously been paid.

The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the moneys payable to the Payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.

The undersigned hereby further certifies that such requisition contains no item representing payment on account of any retained percentage which the District is at the date of such certificate entitled to retain.

No event has occurred and is continuing which constitutes an Event of Default, as defined by the Master Indenture, or would constitute and Event of Default but for the requirement that notice be given or time elapse or both.

BCID Requisition 447: AtkinsRealis	May 10, 2024	Page I of2

[

RECEIVED	J
By Amanda Lane at 9:01 am, May 14, 2024
·-

AXY05E86 F8U8YR 0U8 RUGDGQ0MW R9 ZF8 GQ^RG58(W) ?VRO ZF8 _8Q6RU R9 ZF8 SURS8UZb 05T\GU86 RU W8U^G58W U8Q78U86 `GYF U8WS85Y YR `FG5F 7 GW3]UW8O8QZ GW F8U84a U8T]8WZ87.
BRDDa CU88L IOSUR_8P8QZ DGWZUG5Z

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488Q 0O8Q787 RU PR7G?I87 RQ ZE8 60Z8 E8U8R=.

BCID Req"isi ion 447: !insRealis	Ma# IO, 2O24	Page 2 of2

By Amanda Lane at 9:01 am, May 14, 2024

EXHIBIT "A"
FORM OF REQUISITION

The undersigned, an Authorized Officer of Boggy Creek Improvement District (the "District") hereby submits the following requisition for disbursement under and pursuant to the terms of the Master Trust Indenture from the District to U. S. Bank National Association as trustee (the "Trustee"), dated as of December 1, 2010 (the "Master Indenture"), as amended and supplemented by the Second Supplemental Indenture from the District to the Trustee, dated as of April 1, 2013 (the Master Indenture as amended and supplemented is hereinafter referred to as the "Indenture") (all capitalized terms used herein shall have the meaning ascribed to such term in the Indenture);
Requisition Number: 448

Name of Payee: Donald W. McIntosh Associates

Amount Payable: $4,386.24

Purpose for which paid or incurred (refer also to specific contract if amount is due and payable pursuant to a contract involving progress payments, or, state Costs of Issuance, if applicable):

Invoice 45749 for Project 23218 (Lake Nona Boggy Creek) Through 04/26/2024 – $477.24
Invoice 45754 for Project 22542 (Lake Nona South Lift Station No. 9 and 6,000 LF of 10” Force Main) Through 04/26/2024 – $3,909.00

Fund or Account and subaccount, if any, from which disbursement to be made: 2013 Acquisition and Construction Account of the Acquisition and Construction Fund.
The undersigned hereby certifies that obligations in the stated amount set forth above have been incurred by the District, that each disbursement set forth above is a proper charge against the Acquisition and Construction Account, that each disbursement set forth above was incurred in connection with the acquisition and construction of the Project and each represents a Cost of the Project, and has not previously been paid.

The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the moneys payable to the Payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.

The undersigned hereby further certifies that such requisition contains no item representing payment on account of any retained percentage which the District is at the date of such certificate entitled to retain.
No event has occurred and is continuing which constitutes an Event of Default, as defined by the Master Indenture, or would constitute and Event of Default but for the requirement that notice be given or time elapse or both.

BCID Requisition 448: Donald W. McIntosh Associates	May 17, 2024	Page 1 of 2

Attached hereto are originals of the invoice(s) from the vendor of the property acquired or services rendered with respect to which disbursement is hereby requested.
Boggy Creek Improvement District

Authorized Officer

CONSULTING ENGINEER'S APPROVAL FOR NON-COST OF ISSUANCE AND CAPITALIZED INTEREST REQUESTS ONLY

The undersigned Consulting Engineer hereby certifies that this disbursement is for a Cost of-the Project and is consistent with: (i) the applicable acquisition or construction contract; (ii) the plans and specifications for the portion of the Project with respect to which such disbursement is being made; and, (ii) the report of the District Engineer as such report shall have been amended or modified on the date hereof.

Auth  ized Of i
Jeffrey J. Newton

5/17/24

BCID Requisition 448: Donald W. McIntosh Associates	May 17, 2024	Page 2 of 2

EXHIBIT "A"
FORM OF REQUISITION

The undersigned, an Authorized Officer of Boggy Creek Improvement District (the "District") hereby submits the following requisition for disbursement under and pursuant to the terms of the Master Trust Indenture from the District to U. S. Bank National Association as trustee (the "Trustee"), dated as of December 1, 2010 (the "Master Indenture"), as amended and supplemented by the Second Supplemental Indenture from the District to the Trustee, dated as of April 1, 2013 (the Master Indenture as amended and supplemented is hereinafter referred to as the "Indenture") (all capitalized terms used herein shall have the meaning ascribed to such term in the Indenture);
Requisition Number: 449

Name of Payee: Orlando Sentinel

Amount Payable: $238.25

Purpose for which paid or incurred (refer also to specific contract if amount is due and payable pursuant to a contract involving progress payments, or, state Costs of Issuance, if applicable):

Invoice 92123400000 for Reference OSC92123400 (Ad #7604456) for Construction Legal Advertising of FY 2024 Construction Committee Meetings (Split Five Ways, Will Be Reimbursed From GID, MCID, PE, MID)

Fund or Account and subaccount, if any, from which disbursement to be made: 2013 Acquisition and Construction Account of the Acquisition and Construction Fund.

The undersigned hereby certifies that obligations in the stated amount set forth above have been incurred by the District, that each disbursement set forth above is a proper charge against the Acquisition and Construction Account, that each disbursement set forth above was incurred in connection with the acquisition and construction of the Project and each represents a Cost of the Project, and has not previously been paid.

The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the moneys payable to the Payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.
The undersigned hereby further certifies that such requisition contains no item representing payment on account of any retained percentage which the District is at the date of such certificate entitled to retain.
No event has occurred and is continuing which constitutes an Event of Default, as defined by the Master Indenture, or would constitute and Event of Default but for the requirement that notice be given or time elapse or both.

BCID Requisition 449: Orlando Sentinel	May 17, 2024	Page 1 of 2

Attached hereto are originals of the invoice(s) from the vendor of the property acquired or services rendered with respect to which disbursement is hereby requested.
Boggy Creek Improvement District

Authorized Officer

CONSULTING ENGINEER'S APPROVAL FOR NON-COST OF ISSUANCE AND CAPITALIZED INTEREST REQUESTS ONLY

The undersigned Consulting Engineer hereby certifies that this disbursement is for a Cost of-the Project and is consistent with: (i) the applicable acquisition or construction contract; (ii) the plans and specifications for the portion of the Project with respect to which such disbursement is being made; and, (ii) the report of the District Engineer as such report shall have been amended or modified on the date hereof.

Auth  ized Offi
Jeffrey J. Newton

5/17/24

BCID Requisition 449: Orlando Sentinel	May 17, 2024	Page 2 of 2

EXHIBIT "A"
FORM OF REQUISITION

The undersigned, an Authorized Officer of Boggy Creek Improvement District (the "District") hereby submits the following requisition for disbursement under and pursuant to the terms of the Master Trust Indenture from the District to U. S. Bank National Association as trustee (the "Trustee"), dated as of December 1, 2010 (the "Master Indenture"), as amended and supplemented by the Second Supplemental Indenture from the District to the Trustee, dated as of April 1, 2013 (the Master Indenture as amended and supplemented is hereinafter referred to as the "Indenture") (all capitalized terms used herein shall have the meaning ascribed to such term in the Indenture);

(A)	Requisition Number: 450	
(B)	Name of Payee: Kutak Rock	
(C)	Amount Payable: $1,280.00	
(D)	Purpose for which paid or incurred (refer also to specific contract	
if amount is due and payable pursuant to a contract involving progress payments, or, state Costs of Issuance, if applicable):

Invoice 3395791 for Client Matter 3023-3 (Project Construction) through 04/30/2024

(E)  Fund or Account and subaccount, if any, from which disbursement to be made: 2013 Acquisition and Construction Account of the Acquisition and Construction Fund.

The undersigned hereby certifies that obligations in the stated amount set forth above have been incurred by the District, that each disbursement set forth above is a proper charge against the Acquisition and Construction Account, that each disbursement set forth above was incurred in connection with the acquisition and construction of the Project and each represents a Cost of the Project, and has not previously been paid.

The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the moneys payable to the Payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.

The undersigned hereby further certifies that such requisition contains no item representing payment on account of any retained percentage which the District is at the date of such certificate entitled to retain.
No event has occurred and is continuing which constitutes an Event of Default, as defined by the Master Indenture, or would constitute and Event of Default but for the requirement that notice be given or time elapse or both.

BCID Requisition 450: Kutak Rock	May 24, 2024	Page 1 of 2

Attached hereto are originals of the invoice(s) from the vendor of the property acquired or services rendered with respect to which disbursement is hereby requested.
Boggy Creek Improvement District

Authorized Officer

CONSULTING ENGINEER'S APPROVAL FOR NON-COST OF ISSUANCE AND CAPITALIZED INTEREST REQUESTS ONLY

The undersigned Consulting Engineer hereby certifies that this disbursement is for a Cost of-the Project and is consistent with: (i) the applicable acquisition or construction contract; (ii) the plans and specifications for the portion of the Project with respect to which such disbursement is being made; and, (ii) the report of the District Engineer as such report shall have been amended or modified on the date hereof.

Auth  ized Offi
Jeff  y J. Newton

5/27/24

BCID Requisition 450: Kutak Rock	May 24, 2024	Page 2 of 2

BOGGY CREEK IMPROVEMENT DISTRICT

Work Authorizations/ Proposed Services (if applicable)

Proposal
PO Box 865
Oakland, FL 34760
407-287-5622
CepraLandscape.com

Boggy Creek Improvement District
Lk Nona Blvd S & Roadways & Helios Orlando, FL 32817

PROPERTY

PROPOSAL #	DATE		
37885	06/12/2024		

DESCRIPTION		
Nemours Tip Island Proposal BCID

Proposal to replace Blue Daze tip islands that are beginning to fail due to age. Tips are 4 years old.
We would install 3 tip islands under warranty and the remaining 2 are part of this proposal.

Labor 6 @ $55 = $330
1g Shore Juniper 360 @ $7 = $2520 Pine fines 2yd @ $55 = $110

Total = $2960.00	

$2,960.00	

ENHANCEMENT

1

$2,960.00

$2,960.00

$2,960.00

INCLUDED SERVICES	OCCURS	COST EACH	EXT COST	TOTAL COST
TOTAL:	$2,960.00	$2,960.00

Terms and Conditions

Scope of Work. The scope of work to be performed by Contractor is set forth on attached Proposal. If work activity is not set forth in the Proposal, it is not included in the basic scope of work. All material shall conform to bid specifications unless expressly noted otherwise.

Insurance, Licenses and Permits. Contractor agrees to maintain General Liability insurance coverage, Workers Compensation insurance coverage, and Commercial Automobile insurance coverage as required by law. Contractor also shall comply with all licensing and permit requirements established by any State, County or municipal agency relating to the scope of work.

Subcontractors. Contractor reserves the right to hire qualified subcontractors to perform work under this Agreement.

Access to Jobsite. Owner shall ensure Contractor has access to all parts of the jobsite where the Contractor is to perform work as required by this Agreement during normal business hours and other reasonable periods of time. Owner will be responsible to furnish all utilities necessary to perform the work.

Utilities. Contractor will call Sunshine State One Call of Florida to locate utilities when applicable. Owner is responsible for location of private utilities and contractor cannot be held liable for damage to unmarked utilities.

Compensation. In exchange for Contractor performing the scope of work described in above, Owner shall pay Contractor in accordance with the pricing terms set forth. Contractor shall issue invoices upon completion of the work for amounts due in accordance with the pricing terms set forth. Amounts invoiced are due upon receipt and shall be considered past due after 15 days from the date of invoice. Past due amounts shall accrue interest at the annual rate of 12%. If Owner disputes or questions any invoice or portion of any invoice, Owner shall provide Contractor with written notification of the basis of the dispute or question within fourteen (14) days of receipt of the invoice or the invoice shall be deemed undisputed and fully payable by Owner. Work performed outside the scope of work described in attached Proposal shall be deemed extra work and shall be invoiced and paid in addition to the base compensation due under this Agreement. Owner agrees that if Owner fails to make payment for more than 60 days after the date of any work provided by Contractor arising out of or relating to this Agreement, then Contractor shall have the right to record a claim of lien against Owner’s property to secure payment for labor, materials, equipment and supervision supplied by Contractor for the benefit of Owner’s property.

Termination. This Agreement may be terminated with or without cause by the Owner upon seven (7) days written notice. Owner shall be required to pay for all materials and work completed to the date of termination

Liability. Contractor and Owner hereby waive any claims against each other for consequential damages or indirect damages of any kind. Contractor shall not be liable to Owner for any claim for property damage or bodily injury unless and to the extent caused by the negligence of Contractor or its employees or subcontractors.

Disputes. In the event of any litigation arising out of or relating to this Agreement or any related extra work, the prevailing party shall be entitled to recover its attorney’s fees and costs from the non-prevailing party at both the trial court and appellate court levels. The county and circuit courts in Marion County, Florida shall have sole and exclusive jurisdiction to decide any dispute between the parties, whether sounding in contract or tort and whether legal or equitable in nature, arising out of or relating to this Agreement. The parties hereby waive the right to trial by jury on all claims, counterclaims and defenses otherwise triable to a jury.

Warranty. All work performed will be guaranteed for one (1) year after completion. In order for warranty to remain in effect, proper maintenance must be performed for the entire length of the warranty period.

Complete Agreement. This Agreement and attached Proposal represents the complete and integrated agreement of the parties with respect to the subject matter hereof. All prior verbal or written agreements, promises or representations relating to this Agreement and exhibits hereto are hereby merged into this Agreement and do not survive execution of this Agreement.

Customer Printed Name	Customer Signature	Date

WORK ORDER #37885

Proposal
PO Box 865
Oakland, FL 34760
407-287-5622
CepraLandscape.com

Boggy Creek Improvement District
Lk Nona Blvd S & Roadways & Helios Orlando, FL 32817

PROPERTY

PROPOSAL #	DATE		
40662	06/13/2024		

DESCRIPTION		
06.2024 Controller 16 Rotor zone stayed stuck on. Valve box needed to be replaced as well.

2" Valve Replacement 1 @ $520.00=$520.00 Valve Box Replacement 1 @ $240.00=$240.00

Total: $760.00	

$760.00	

IRRIGATION REPAIRS

1

$760.00

$760.00

$760.00

INCLUDED SERVICES	OCCURS	COST EACH	EXT COST	TOTAL COST
TOTAL:	$760.00	$760.00

Terms and Conditions

Scope of Work. The scope of work to be performed by Contractor is set forth on attached Proposal. If work activity is not set forth in the Proposal, it is not included in the basic scope of work. All material shall conform to bid specifications unless expressly noted otherwise.

Insurance, Licenses and Permits. Contractor agrees to maintain General Liability insurance coverage, Workers Compensation insurance coverage, and Commercial Automobile insurance coverage as required by law. Contractor also shall comply with all licensing and permit requirements established by any State, County or municipal agency relating to the scope of work.

Subcontractors. Contractor reserves the right to hire qualified subcontractors to perform work under this Agreement.

Access to Jobsite. Owner shall ensure Contractor has access to all parts of the jobsite where the Contractor is to perform work as required by this Agreement during normal business hours and other reasonable periods of time. Owner will be responsible to furnish all utilities necessary to perform the work.

Utilities. Contractor will call Sunshine State One Call of Florida to locate utilities when applicable. Owner is responsible for location of private utilities and contractor cannot be held liable for damage to unmarked utilities.

Compensation. In exchange for Contractor performing the scope of work described in above, Owner shall pay Contractor in accordance with the pricing terms set forth. Contractor shall issue invoices upon completion of the work for amounts due in accordance with the pricing terms set forth. Amounts invoiced are due upon receipt and shall be considered past due after 15 days from the date of invoice. Past due amounts shall accrue interest at the annual rate of 12%. If Owner disputes or questions any invoice or portion of any invoice, Owner shall provide Contractor with written notification of the basis of the dispute or question within fourteen (14) days of receipt of the invoice or the invoice shall be deemed undisputed and fully payable by Owner. Work performed outside the scope of work described in attached Proposal shall be deemed extra work and shall be invoiced and paid in addition to the base compensation due under this Agreement. Owner agrees that if Owner fails to make payment for more than 60 days after the date of any work provided by Contractor arising out of or relating to this Agreement, then Contractor shall have the right to record a claim of lien against Owner’s property to secure payment for labor, materials, equipment and supervision supplied by Contractor for the benefit of Owner’s property.

Termination. This Agreement may be terminated with or without cause by the Owner upon seven (7) days written notice. Owner shall be required to pay for all materials and work completed to the date of termination

Liability. Contractor and Owner hereby waive any claims against each other for consequential damages or indirect damages of any kind. Contractor shall not be liable to Owner for any claim for property damage or bodily injury unless and to the extent caused by the negligence of Contractor or its employees or subcontractors.

Disputes. In the event of any litigation arising out of or relating to this Agreement or any related extra work, the prevailing party shall be entitled to recover its attorney’s fees and costs from the non-prevailing party at both the trial court and appellate court levels. The county and circuit courts in Marion County, Florida shall have sole and exclusive jurisdiction to decide any dispute between the parties, whether sounding in contract or tort and whether legal or equitable in nature, arising out of or relating to this Agreement. The parties hereby waive the right to trial by jury on all claims, counterclaims and defenses otherwise triable to a jury.

Warranty. All work performed will be guaranteed for one (1) year after completion. In order for warranty to remain in effect, proper maintenance must be performed for the entire length of the warranty period.

Complete Agreement. This Agreement and attached Proposal represents the complete and integrated agreement of the parties with respect to the subject matter hereof. All prior verbal or written agreements, promises or representations relating to this Agreement and exhibits hereto are hereby merged into this Agreement and do not survive execution of this Agreement.

Customer Printed Name	Customer Signature	Date

WORK ORDER #40662

BOGGY CREEK IMPROVEMENT DISTRICT

District’s Financial Position and Budget to Actual YTD

Boggy Creek Improvement District	
Statement of Financial Position	
As of 5/31/2024	
	
General		
Debt Service		
Capital Projects	
			
Assets			
Current Assets						
General Checking Account	$693,473.70					
State Board of Administration	1,428.25					
Assessments Receivable	180,650.73					
Due From Other Governmental Units	17,647.37					
Prepaid Expenses	1,877.51					
Deposits	5,000.00					
Infrastructure Capital Reserve	101,096.00					
Interchange Maintenance Reserve	11,828.39					
Assessments Receivable			$150,155.09			
Debt Service Reserve Series 2013			3,946,021.87			
Debt Service Reserve Series 2023			586,315.63			
Revenue Series 2013			1,306,045.40			
Revenue Series 2023			423,682.66			
Interest Series 2023			3,904.37			
Prepayment Series 2023			0.13			
General Checking Account					$13,136.52	
Acquisition/Construction Series 2013					55,014.59	
Acquisition/Construction Series 2023					2,967.31	
Due From Other Governmental Units					190.60	
Total Current Assets	$1,013,001.95		$6,416,125.15		$71,309.02	

Investments						
Amount Available in Debt Service Funds						
Amount To Be Provided						
Total Investments	$0.00		$0.00		$0.00	
Total Assets	$1,013,001.95		$6,416,125.15		$71,309.02	

General Long-	Total Term Debt

$0.00		$693,473.70
1,428.25
180,650.73
17,647.37
1,877.51
5,000.00
101,096.00
11,828.39
150,155.09
3,946,021.87
586,315.63
1,306,045.40
423,682.66
3,904.37
0.13
13,136.52
55,014.59
2,967.31
190.60

$7,500,436.12	

$6,265,970.06 52,494,029.94

$58,760,000.00		
$6,265,970.06 52,494,029.94

$58,760,000.00	
$58,760,000.00		$66,260,436.12	

Boggy Creek Improvement District
Statement of Financial Position As of 5/31/2024

General Long- Term Debt		Total	

$0.00		

$24,965.36 180,650.73
150,155.09
$355,771.18	

$58,760,000.00
$58,760,000.00		
$58,760,000.00
$58,760,000.00	
$58,760,000.00		$59,115,771.18	

$0.00		

$70,670.30 500,501.64
236,213.92
(1,969,049.31)
160,985.34
8,074,034.03
(22,384,631.35)
(4,325,287.20)
84,251.41
26,696,976.16
$7,144,664.94	
			
$58,760,000.00		$66,260,436.12	

General	Debt Service	Capital Projects

Liabilities and Net Assets

Current Liabilities Accounts Payable Deferred Revenue Deferred Revenue
Total Current Liabilities

Long Term Liabilities
Revenue Bonds Payable - Long-Term Total Long Term Liabilities

Total Liabilities

Net Assets
Net Assets, Unrestricted
Net Assets - General Government
Current Year Net Assets - General Government
Net Assets, Unrestricted
Current Year Net Assets, Unrestricted
Net Assets - General Government Net Assets, Unrestricted
Net Assets, Unrestricted
Current Year Net Assets, Unrestricted
Net Assets - General Government
Total Net Assets

Total Liabilities and Net Assets

180,650.73

$205,616.09		
$150,155.09
$150,155.09		

$0.00	
$0.00		$0.00		$0.00	
$205,616.09		$150,155.09		$0.00	

$70,670.30 500,501.64
236,213.92

$807,385.86		

($1,969,049.31) 160,985.34
8,074,034.03

$6,265,970.06		

($22,384,631.35)
(4,325,287.20)
84,251.41
26,696,976.16
$71,309.02	
					
$1,013,001.95		$6,416,125.15		$71,309.02	

$24,965.36

Boggy Creek Improvement District
Statement of Activities As of 5/31/2024	
	
General	
Debt Service	Capital Projects	General Long- Term Debt	
Total	
Revenues						
On-Roll Assessments	$127,703.83				$127,703.83	
Off-Roll Assessments	612,100.88				612,100.88	
Developer Contributions	142,336.93				142,336.93	
Other Income & Other Financing Sources	484.24				484.24	
On-Roll Assessments		$746,753.32			746,753.32	
Off-Roll Assessments		4,266,365.52			4,266,365.52	
Inter-Fund Group Transfers In		(138,553.31)			(138,553.31)	
Developer Contributions			$33,592.00		33,592.00	
Inter-Fund Transfers In			138,553.31		138,553.31	
Total Revenues	

$882,625.88	

$4,874,565.53	

$172,145.31	

$0.00	

$5,929,336.72	
Expenses						
Supervisor Fees	$1,400.00				$1,400.00	
Public Officials' Liability Insurance	4,028.00				4,028.00	
Trustee Services	3,073.61				3,073.61	
Management	28,333.36				28,333.36	
Engineering	3,503.86				3,503.86	
Disclosure	500.00				500.00	
District Counsel	13,129.41				13,129.41	
Assessment Administration	15,000.00				15,000.00	
Audit	4,000.00				4,000.00	
Travel and Per Diem	105.30				105.30	
Postage & Shipping	41.08				41.08	
Legal Advertising	1,346.93				1,346.93	
Bank Fees	1.00				1.00	
Property Taxes	78.60				78.60	
Web Site Maintenance	1,680.00				1,680.00	
Holiday Decorations	500.00				500.00	
Dues, Licenses, and Fees	175.00				175.00	

Boggy	Creek Improvement District							
	Statement of Activities							
	As of 5/31/2024							
	
General	Debt Service		Capital Projects		General Long- Term Debt		
Total	
Electric	4,852.13						4,852.13	
Water Reclaimed	15,921.99						15,921.99	
General Insurance	4,570.00						4,570.00	
Property & Casualty	6,173.00						6,173.00	
Irrigation Parts	35,032.24						35,032.24	
Landscaping Maintenance & Material	198,346.24						198,346.24	
Tree Trimming	15,200.00						15,200.00	
Contingency	1,198.31						1,198.31	
IME - Aquatics Maintenance	2,171.04						2,171.04	
IME - Irrigation	1,671.91						1,671.91	
IME - Landscaping	62,210.40						62,210.40	
IME - Lighting	306.80						306.80	
IME - Miscellaneous	99.13						99.13	
IME - Water Reclaimed	341.94						341.94	
Pest Control	1,510.00						1,510.00	
Entry and Wall Maintenance	5,400.00						5,400.00	
Shuttle Financing - Maintenance	23,799.86						23,799.86	
Shuttle Financing - BEEP Operating Costs	118,537.07						118,537.07	
IME - Landscape Improvements	5,320.25						5,320.25	
Streetlights	51,498.64						51,498.64	
Personnel Leasing Agreement	24,000.08						24,000.08	
Principal Payments (Series 2013)	$1,770,000.00						1,770,000.00	
Principal Payments (Series 2023)	215,000.00						215,000.00	
Interest Payments (Series 2013)	2,217,843.76						2,217,843.76	
Interest Payments (Series 2023)	700,202.25						700,202.25	
Management			$8,500.00				8,500.00	
Engineering			68,389.44				68,389.44	
District Counsel			3,029.50				3,029.50	
Legal Advertising			297.11				297.11	
Contingency	
			8,901.97				8,901.97	
Total Expenses	$655,057.18	$4,903,046.01		$89,118.02		$0.00		$5,647,221.21	

Boggy Creek Improvement District
Statement of Activities As of 5/31/2024	

General		
Debt Service		Capital Projects		General Long- Term Debt		
Total	
Other Revenues (Expenses) & Gains (Losses)
Interest Income Dividend Income Interest Income Dividend Income
Total Other Revenues (Expenses) & Gains (Losses)	

$8,645.22

$8,645.22		

$189,465.82

$189,465.82		

$1.33 1,222.79

$1,224.12		

$0.00		

$8,645.22 189,465.82
1.33
1,222.79

$199,335.16	
Change In Net Assets	$236,213.92		$160,985.34		$84,251.41		$0.00		$481,450.67	
Net Assets At Beginning Of Year	$571,171.94		$6,104,984.72		($12,942.39)		$0.00		$6,663,214.27	

Net Assets At End Of Year	
$807,385.86		
$6,265,970.06		
$71,309.02		
$0.00		
$7,144,664.94	

Boggy Creek Improvement District
Budget to Actual
For the Month Ending 5/31/2024	
		Oct-23			Nov-23		Dec-23		Jan-24			Feb-24			Mar-24		Apr-24			May-24	YTD Actual

$  739,804.71
142,336.93
65,395.12
484.24	

Revenues
Assessments Developer Contributions Carryforward Revenue
Other Income & Other Financing Sources
Net Revenues
General & Administrative Expenses Legislative
Supervisor Fees
Financial & Administrative
Public Officials' Liability Insurance Trustee Services
Management Engineering Dissemination Agent Property Appraiser District Counsel
Assessment Administration Reamortization Schedules Audit
Arbitrage Calculation Travel and Per Diem Telephone
Postage & Shipping Copies
Legal Advertising Bank Fees Miscellaneous Meeting Room Office Supplies Property Taxes
Web Site Maintenance Holiday Decorations Dues, Licenses, and Fees
Total General & Administrative Expenses	

$

$

$

$	

-
- 8,174.39
-
8,174.39

400.00

4,028.00
1,718.62
3,541.67
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
- 175.00
9,863.29		

$

$

$

$	

4,839.63	$ 311,573.70	$	57,074.94
-	19,812.92	40,231.25
8,174.39	8,174.39	8,174.39
-	-	-
 
13,014.02	$ 339,561.01	$  105,480.58

-	$	200.00	$	-

-	-	-
-	-	-
3,541.67	3,541.67	3,541.67
125.00	187.50	756.26
-	-	-
-	-	-
1,873.57	1,500.50	2,277.45
-	15,000.00	-
-	-	-
-	-	-
-	-	-
7.95	-	12.71
-	-	-
-	-	-
-	-	-
472.75	215.68	-
1.00	-	-
-	-	-
-	-	-
-	-	-
78.60	-	-
270.00	135.00	435.00
-	500.00	-
-	-	-
 
6,370.54	$  21,280.35	$	7,023.09		

$

$

$

$	

-
- 8,174.39
484.24
8,658.63

400.00

-
- 3,541.67
187.50
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,129.17		

$

$

$

$	

442.76
40,871.67
8,174.39
-
49,488.82

-

-
- 3,541.67
508.71
-
- 1,479.50
-
-
-
- 12.94
-
-
- 219.50
-
-
-
-
- 270.00
-
-
6,032.32		

$ 348,204.22
- 8,174.39
-

$ 356,378.61

$	200.00

-
- 3,541.67
- 500.00
- 4,660.09
-
-
-
- 32.38
- 41.08
-
-
-
-
-
-
- 435.00
-
-

$	9,410.22		

$

$

$

$	

17,669.46
41,421.09
8,174.39
-
67,264.94

200.00

- 1,354.99
3,541.67
1,738.89
-
- 1,338.30
-
- 4,000.00
- 39.32
-
-
- 439.00
-
-
-
-
- 135.00
-
-
12,787.17		
																	$	948,021.00

$	1,400.00

4,028.00
3,073.61
28,333.36
3,503.86
500.00
- 13,129.41
15,000.00
- 4,000.00
- 105.30
- 41.08
- 1,346.93
1.00
-
-
- 78.60
1,680.00
500.00
175.00	
																	$	76,896.15

$	4,852.13	
Field Operations
Electric Utility Services
Electric
Entry Lighting
Water-Sewer Combination Services
Water Reclaimed	

$	

-
-

-		

$	

523.84	$	549.77	$	604.42
-	-	-

1,911.63	2,043.70	1,921.91		

$	

541.11
-

1,394.50		

$	

606.02
-

2,052.35		

$	590.15
-

4,191.97		

$	

1,436.82
-

2,405.93		

1-5,921.99	

Boggy Creek Improvement District
Budget to Actual
For the Month Ending 5/31/2024	

Other Physical Environment
General Insurance
Property & Casualty Insurance Other Insurance
Irrigation Repairs
Landscaping Maintenance & Material Landscape Improvements
Tree Trimming Contingency Pest Control
Shuttle Financing Insurance Maintenance Vehicle Cost
BEEP Operating Costs
Interchange Maintenance Expenses
IME - Aquatics Maintenance IME - Irrigation
IME - Landscaping IME - Lighting
IME - Miscellaneous IME - Water Reclaimed
IME - Landscape Improvements
Road & Street Facilities
Entry and Wall Maintenance Streetlights
Parks & Recreation
Personnel Leasing Agreement
Reserves
Infrastructure Capital Reserve Interchange Maintenance Reserve
Total Field Operations Expenses

Total Expenses
Income (Loss) from Operations Other Income (Expense)
Interest Income
Total Other Income (Expense)

Net Income (Loss)	

$

 $ 

$

$
$

$	
Oct-23

4,570.00
6,173.00
-
- 24,793.28
-
- 575.31
-

-
-
-
-

271.38
- 7,776.30
-
-
-
-

1,200.00
- 3,000.01
-
-
48,359.28

58,222.57 

(50,048.18)

21.76
21.76

(50,026.42)	

$

 $	

$

$
$

$	
Nov-23	Dec-23	Jan-24

-	-	-
-	-	-
-	-	-
1,306.24	4,620.50	6,072.00
24,793.28	24,793.28	24,793.28
-	-	-
-	-	-
-	-	-
-	-	-

-	-	-
3,399.98	3,399.98	3,399.98
-	-	-
16,412.94	16,307.10	17,124.19

271.38	271.38	271.38
897.00	-	-
7,776.30	7,776.30	7,776.30
50.05	48.37	47.62
-	-	-
1.79	86.34	-
5,320.25	-	-

-	4,200.00	-
6,558.64	6,559.63	6,611.78

3,000.01	3,000.01	3,000.01

-	-	-
-	-	-
72,223.33	$  73,656.36	$	71,622.87

78,593.87   $  94,936.71   $	78,645.96 

(65,579.85)	$ 244,624.30	$	26,834.62

19.83	$	797.54	$	50.91
19.83	$	797.54	$	50.91

(65,560.02)	$ 245,421.84	$	26,885.53	
Feb-24

-
-
- 4,506.00
24,793.28
- 8,700.00
-
-

- 3,399.98
- 16,891.27

271.38
444.28
7,776.30
46.25
- 76.92
-

- 9,013.87

3,000.01

-
-
$  80,855.15

 $  84,984.32 

$ (76,325.69)

$	21.50
$	21.50

$ (76,304.19)	
Mar-24

-
-
- 5,530.00
24,793.28
-
- 235.00
1,510.00

- 3,399.98
- 17,180.44

271.38
(662.75)
7,776.30
42.21
99.13
70.19
-

- 7,583.59

3,000.01

-
-
$  73,487.13

 $  79,519.45 

$ (30,030.63)

$	7,682.58
$	7,682.58

$ (22,348.05)	
Apr-24

-
-
- 4,479.50
24,793.28
-
- 388.00
-

- 3,399.98
- 17,003.19

271.38
- 7,776.30
37.45
- 54.23
-

- 7,586.55

3,000.01

-
-
$  73,571.99

 $  82,982.21 

$ 273,396.40

$	25.36
$	25.36

$ 273,421.76	

$

 $ 

$

$
$

$	
May-24

-
-
- 8,518.00
24,793.28
- 6,500.00
-
-

- 3,399.98
- 17,617.94

271.38
993.38
7,776.30
34.85
- 52.47
-

- 7,584.58

3,000.01

-
-
84,384.92

97,172.09 

(29,907.15)

25.74
25.74

(29,881.41)	

 
YTD Actual

4,570.00
6,173.00

35,032.24
198,346.24
-

15,200.00
1-,198.31
1,510.00

23,799.86
1-18,537.07

- 2,171.04
1,671.91
62,210.40

306.80
99.13
341.94
5,320.25

5,400.00
51,498.64

24,000.08	
$	578,161.03

$-  655,057.18	
-
$	292,963.82

$	8,645.22	
$	8,645.22	
$	301,609.04	

Actual	Budget	Variance

FY 2024	Percentage Adopted Budget		Spent

Revenues	
Assessments Developer Contributions Carryforward Revenue
Other Income & Other Financing Sources	$	739,804.71
142,336.93
65,395.12
484.24	$  613,636.96
483,546.47
65,395.12
-		$	126,167.75
(341,209.54)
- 484.24		$  920,455.44
725,319.70
98,092.69
-		80.37%
19.62%
66.67%	
Net Revenues	$	948,021.00	
$ 1,162,578.55		$	(214,557.55)		$ 1,743,867.83		54.36%	
General & Administrative Expenses Legislative
Supervisor Fees
Financial & Administrative
Public Officials' Liability Insurance Trustee Services
Management Engineering Disclosure Property Appraiser District Counsel
Assessment Administration Reamortization Schedules Audit
Arbitrage Calculation Travel and Per Diem Telephone
Postage & Shipping Copies
Legal Advertising Bank Fees Miscellaneous Meeting Room Office Supplies Property Taxes
Web Site Maintenance Holiday Decorations
Dues, Licenses, and Fees	

$	

1,400.00

4,028.00
3,073.61
28,333.36
3,503.86
500.00
- 13,129.41
15,000.00
- 4,000.00
- 105.30
- 41.08
- 1,346.93
1.00
-
-
- 78.60
1,680.00
500.00
175.00	

$	3,200.00

2,866.67
5,666.67
28,333.33
7,666.67
6,666.67
333.33
23,333.33
10,000.00
166.67
2,666.67
800.00
200.00
33.33
333.33
333.33
3,333.33
240.00
666.68
533.33
180.00
100.00
2,000.00
333.33
116.67		

$	

(1,800.00)

1,161.33
(2,593.06)
0.03
(4,162.81)
(6,166.67)
(333.33)
(10,203.92)
5,000.00
(166.67)
1,333.33
(800.00)
(94.70)
(33.33)
(292.25)
(333.33)
(1,986.40)
(239.00)
(666.68)
(533.33)
(180.00)
(21.40)
(320.00)
166.67
58.33		

$	4,800.00

4,300.00
8,500.00
42,500.00
11,500.00
10,000.00
500.00
35,000.00
15,000.00
250.00
4,000.00
1,200.00
300.00
50.00
500.00
500.00
5,000.00
360.00
1,000.00
800.00
270.00
150.00
3,000.00
500.00
175.00		

29.17%

93.67%
36.16%
66.67%
30.47%
5.00%
0.00%
37.51%
100.00%
0.00%
100.00%
0.00%
35.10%
0.00%
8.22%
0.00%
26.94%
0.28%
0.00%
0.00%
0.00%
52.40%
56.00%
100.00%
100.00%	
Total General & Administrative Expenses	$	76,896.15		$	100,103.34		$	(23,207.19)		$  150,155.00		51.21%	

		Actual		Budget			Variance		FY 2024
Adopted Budget		Percentage Spent	
Field Operations Expenses												
Electric Utility Services												
Electric	$	4,852.13		$	4,000.00		$	852.13		$	6,000.00		80.87%	
Entry Lighting		-		333.33			(333.33)		500.00		0.00%	
Water-Sewer Combination Services												
Water Reclaimed		15,921.99		20,000.00			(4,078.01)		30,000.00		53.07%	
Other Physical Environment												
General Insurance		4,570.00		3,266.67			1,303.33		4,900.00		93.27%	
Property & Casualty		6,173.00		4,333.33			1,839.67		6,500.00		94.97%	
Other Insurance		-		66.67			(66.67)		100.00		0.00%	
Irrigation Repairs		35,032.24		40,000.00			(4,967.76)		60,000.00		58.39%	
Landscaping Maintenance & Material		198,346.24		249,480.00			(51,133.76)		374,220.00		53.00%	
Landscape Improvements		-		43,333.33			(43,333.33)		65,000.00		0.00%	
Tree Trimming		15,200.00		13,333.33			1,866.67		20,000.00		76.00%	
Contingency		1,198.31		3,533.33			(2,335.02)		5,300.00		22.61%	
Pest Control		1,510.00		2,013.33			(503.33)		3,020.00		50.00%	
Shuttle Financing												
Insurance		-		3,333.33			(3,333.33)		5,000.00		0.00%	
Maintenance		23,799.86		144,000.00			(120,200.14)		216,000.00		11.02%	
Vehicle Cost (Loan Payment)		-		97,546.47			(97,546.47)		146,319.70		0.00%	
BEEP Operating Costs		118,537.07		238,666.67			(120,129.60)		358,000.00		33.11%	
Interchange Maintenance Expenses												
IME - Aquatics Maintenance		2,171.04		2,296.67			(125.63)		3,445.00		63.02%	
IME - Irrigation Repair		1,671.91		2,166.67			(494.76)		3,250.00		51.44%	
IME - Landscaping		62,210.40		62,210.42			(0.02)		93,315.63		66.67%	
IME - Lighting		306.80		866.67			(559.87)		1,300.00		23.60%	
IME - Miscellaneous		99.13		4,333.33			(4,234.20)		6,500.00		1.53%	
IME - Water Reclaimed		341.94		1,083.33			(741.39)		1,625.00		21.04%	
IME - Landscape Improvements		5,320.25		8,666.67			(3,346.42)		13,000.00		40.93%	
Road & Street Facilities												
Entry and Wall Maintenance		5,400.00		10,000.00			(4,600.00)		15,000.00		36.00%	
Streetlights		51,498.64		65,060.55			(13,561.91)		97,590.83		52.77%	
Parks & Recreation												
Personnel Leasing Agreement		24,000.08		24,000.00			0.08		36,000.00		66.67%	
Reserves												
Infrastructure Capital Reserve		-		13,444.45			(13,444.45)		20,166.67		0.00%	
Interchange Maintenance Reserve		-		1,573.33			(1,573.33)		2,360.00		0.00%	
Total Field Operations Expenses	$	578,161.03		$ 1,062,941.88		$	(484,780.85)		$ 1,594,412.83		36.26%	

Total Expenses	
$	
655,057.18		
$ 1,163,045.22		
$	
(507,988.04)		
$ 1,744,567.83		
37.55%	

Income (Loss) from Operations	
$	
292,963.82		
$	(466.67)		
$	
293,430.49		
$	(700.00)			
Other Income (Expense)												
Interest Income	$	8,645.22		$	466.67		$	8,178.55		$	700.00		1235.03%	
Total Other Income (Expense)	$	8,645.22		$	466.67		$	8,178.55		$	700.00		1235.03%	
Net Income (Loss)	$	301,609.04		$	-		$	301,609.04		$	-			

Boggy Creek Improvement District Cash Flow

FY 2023 Inflows	FY 2023 Outflows	FY 2024 Inflows	FY 2024 Outflows	End. Cash	
114,088.74	(89,809.26)	5.82	(69,140.86)	353,525.01	
27,573.54	(8.91)	64,282.85	(90,454.19)	354,918.30	
-	-	2,486,033.39	(29,380.51)	2,811,571.18	
-	-	507,170.65	(2,735,697.67)	583,044.16	
-	-	16,859.58	(106,134.14)	493,769.60	
-	-	70,794.09	(121,549.23)	443,014.46	
-	-	716,868.29	(79,194.79)	1,080,687.96	
-	-	87,739.61	(474,953.87)	693,473.70	
-	-	11,386.79	(25,800.36)	679,060.13 as of 06/13/2024	

Beg. Cash

10/1/2023	398,380.57	
11/1/2023	353,525.01	
12/1/2023	354,918.30	
1/1/2024	2,811,571.18	
2/1/2024	583,044.16	
3/1/2024	493,769.60	
4/1/2024	443,014.46	
5/1/2024	1,080,687.96	
6/1/2024	693,473.70	

Totals		141,662.28	(89,818.17)	3,961,141.07	(3,732,305.62)