Reserve
Community Development District
http://www.Reserve1cdd.com

Charles Henry, Chairman Lynn Fettrow, Vice Chairman
Gary Surber, Assistant Secretary Luis Planas, Assistant Secretary Richard Wright, Assistant Secretary

July 14, 2026

Seat 1: Charles Henry – (C.)		
Seat 5: Lynn Fettrow – (V.C.)		
Seat 2: Gary Surber – (A.S.)		
Seat 3: Luis Planas – (A.S.)		
Seat 4: Richard Wright – (A.S.)		

Reserve
Community Development District
Agenda
Tuesday	2160 NW Reserve Park Trace
July 14, 2026	Port St. Lucie, Florida 34986
1:30 p.m.	https://us06web.zoom.us/j/83988783118
Meeting ID: 839 8878 3118 and Passcode: 3RnKzW
1 309-205-3325 or 1 312-626-6799
Phone Conference ID: 83988783118#

Roll Call

Approval of the Minutes of the June 9, 2026 Meeting – Page 4

PNC Account Analysis Statement – Page 11

Status Update on Projects Related to St. Lucie West Services District Transition
Interconnect / Force Main
RFP 26-003: Review of Evaluation Committee Recommendation re RFP 26-003 Open Cut Excavation Project; and Consideration of Motion to Accept Evaluation Committee Recommendation and Select Contractor; Motion to Direct Staff and Attorney to Pursue a Contract with Contractor

RFP 26-004: Review of Evaluation Committee Recommendation re RFP 26-004: I-95 Water Main & Force Main Directional Drilling under I-95; and Consideration of Motion to Accept Evaluation Committee Recommendation and Select Contractor; Motion to Direct Staff and Attorney to Pursue a Contract with Contractor

Lift Stations
Land Sale
Acceptance of Audit for Fiscal Year Ending in September 30, 2025 – Page 17
Staff Reports
Engineer
Attorney
District Consultant – Invoice with Robert L. Fromm & Associates – Page 44

Manager
Invoice from St. Lucie West Service District for Bulk Water and Sewer – Page 45

Time Sheets for Plant Operations and Rick Riniolo for Underground Services – Page 46

Financial Reports
Approval of Check Register – Page 51

Approval of Unaudited Financials – Page 56

Supervisors Requests and Audience Comments

Adjournment

Meetings are open to the public and may be continued to a time, date and place certain. For more information regarding this CDD please visit the website: http://www.Reserve1cdd.com

MINUTES OF MEETING RESERVE
COMMUNITY DEVELOPMENT DISTRICT
The regular meeting of the Board of Supervisors of the Reserve Community Development District was held on Tuesday, June 9, 2026, at 1:30 p.m. at 2160 NW Reserve Park Trace, Port St. Lucie, Florida 34986.

Present and constituting a quorum were:

Chuck Henry	Chairman
Lynn Fettrow	Vice Chairman
Gary Surber	Assistant Secretary
Richard Wright	Assistant Secretary
Luis Planas	Assistant Secretary

Also present were:

Darrin Mossing	District Manager (by phone)
Robert Szozda	Assistant District Manager
Greyson Pugh	Governmental Management Services (by phone)
Robert Fromm	Consultant
Roberto Cabrera	District Engineer
Gary Resnick	District Counsel (by phone)

FIRST ORDER OF BUSINESS	Roll Call
Mr. Szozda called the meeting to order and called the roll.

SECOND ORDER OF BUSINESS	Approval of the Minutes of the
May 12, 2026 Meeting
Mr. Szozda presented the minutes of the May 12, 2026 meeting and stated the minutes were included in the agenda package. He then asked for any corrections, deletions or additions and upon hearing none, he asked for a motion to approve the minutes.

On MOTION by Mr. Planas seconded by Mr. Fettrow with all in favor, the Minutes of the May 12, 2026 Meeting were approved.

THIRD ORDER OF BUSINESS	PNC Account Analysis Statement
Mr. Szozda presented the PNC Account analysis statement indicating this item was for informational purposes only and no Board action was needed. He then asked for any comments or questions. (There were no comments at this time)

FOURTH ORDER OF BUSINESS	Status	Update	on	Projects
Related	to	St.	Lucie	West Services District Transition
Interconnect/Force Main
Appointment of Committee to Evaluate RFP Responses and Make Selection Recommendation to the Board
Mr. Henry gave a brief update relating to the interconnect and the force main stating two RFPs were placed in the paper on June 1st, one for the directional drill under I-95, and the other one for the open cut for burying the pipe over to St. Lucie West. He also made a few additional comments stating they would have two separate pre-bid meetings with the engineer, and the final bids would be submitted and opened on June 30th. Mr. Henry stated they would need to appoint probably a committee to review the bids and make a recommendation to the Board as to which contractors should be hired for the projects at the July 14th Board meeting. Mr. Henry then made some additional comments relating to this matter.
Mr. Cabrera made some additional comments and stated only 1 or 2 potential contractors had asked for both sets of plans, so most likely a drilling expert company would get the drilling job, and a general utility contractor would get the open cut excavation job. He also gave a brief update on the revised Darshan easement that was corrected and other easements as well.
Mr. Resnick made a comment relating to the corrected executed version of the easement with the School Board.
(At this point a discussion was held among the Board members, Mr. Henry, Mr. Fromm, Mr. Cabrera, Mr. Mossing and Mr. Resnick relating to this item and also what would take place at the pre-bid meeting)

Mr. Cabrera also gave an update on the pending permits with FPL and FDOT. He stated FDOT had some comments that they were already addressing, and FPL was asking to shift their line south, up to 15’ at the crossing point, so he was currently going back and forth with FPL on that item.
(At this point a discussion was held among the Board members, Mr. Henry, and Mr. Cabrera relating to this item)

Mr. Henry then gave a brief update on the lift station project stating they were still working on the 3 of them. They put a new driveway in along the PGA hole, and cut back some vegetation and were waiting for the electrician to come in and move the box and once that was moved, they could finish up with that. He also made some additional comments relating to the lift stations and stated the next one they would work on would be the one near The Learning Center. Mr. Henry also made a comment on the sale of the land stating they did get an offer from Derek, the fence guy.
Mr. Fromm made some additional comments relating to the land sale offer stating it came in at $680,000 subject to the city agreeing to rezone the upland parcel and the perk ponds. He also stated they would need to sit down with the city to see if they were willing to do that.
(At this point a discussion was held among the Board members, Mr. Henry, Mr.
Cabrera and Mr. Fromm relating to this item)

Mr. Resnick suggested it might be a good idea to ask for some Board action with respect to pursuing the land sale due to potentially incurring time and money to pursue the rezoning so they may want to get Board approval for staff to proceed with the offer and the rezoning with the city.
(At this point a discussion was held among the Board members, Mr. Henry, Mr. Cabrera, and Mr. Fromm relating to this item stating it might be better to meet with the city first to see if it was doable)

On MOTION by Mr. Planas seconded by Mr. Wright with all in favor, authorizing staff to approach the City on the plat/rezoning of perk ponds from institutional to industrial was approved.

Mr. Szozda then asked if the Board would need to make a motion to approve the selection committee to evaluate the RFPs.
Mr. Henry stated he agreed they would need to appoint a committee to evaluate the RFPs responses which would consist of Mr. Cabrera, Mr. Fromm and himself.

On MOTION by Mr. Surber seconded by Mr. Wright with all in favor, appointing Roberto Cabrera, Bob Fromm and Chuck Henry to serve as the committee to evaluate the RFP responses and make a selection was approved.

Mr. Mossing asked when the committee meeting would be and where.
Mr. Henry stated the bids were due on June 30th, so they should probably schedule it right after the July 4th holiday, so probably Tuesday, July 7th because the Board meeting would be on July 14th. He also suggested it should be at Mr. Cabrera’s office on July 7th at 10:00 a.m.
Mr. Cabrera was in agreement to have the meeting at his office at Culpepper & Terpening on July 7th at 10:00 a.m.
Mr. Resnick stated that meeting would need to be in the Sunshine and Mr. Mossing would need to advertised it. Mr. Mossing recommended to get a motion from the Board for that meeting.

On MOTION by Mr. Planas seconded by Mr. Surber with all in favor, authorizing staff to advertise the Committee Meeting on July 7, 2026 at 10:00 a.m. at the Culpepper & Terpening office to discuss the RFP evaluations was approved.

FIFTH ORDER OF BUSINESS	Staff Reports
Engineer
Mr. Szozda moved on to staff reports and ask Mr. Cabrera if he had anything further to report to the Board beyond what was already discussed.
Mr. Cabrera stated he had nothing else to report.

Attorney
Mr. Szozda asked Mr. Resnick if he had any anything to report.
Mr. Resnick stated the only thing he had was an update on the easements which was already discussed earlier unless there were any questions from the Board. (There were no questions at this time)

District Consultant – Invoice with Robert L. Fromm & Associates
Mr. Szozda asked Mr. Fromm for his report for District consultant.
Mr. Fromm stated everything was already discussed earlier other than having the Board approve his invoice which was the same amount as last month for $3,400.

On MOTION by Mr. Surber seconded by Mr. Fettrow with all in favor, accepting the invoice from Robert L. Fromm & Associates in the amount of $3,400 was approved.

Mr. Henry made a comment regarding a discussion he had with Mr. Fromm relating to a large dip in the road and damage to the road near a manhole. This item was brought to their attention by the POA and also Mr. Riniolo based on readings he was getting from a lift station that he was seeing an unusual flow of water which was not coming from a house but mostly likely a manhole. Mr. Riniolo traced it back and confirmed it was a leak in the manhole near Sea Pines, the manhole was repaired however, it was discovered there was a leak in the subsurface once the asphalt was removed that was 10’ down and that was also repaired.
(At this point a discussion was held among the Board members, Mr. Henry and Mr. Fromm relating to this item)

Manager
Discussion of Audit for Fiscal Year Ending in September 30, 2025
Mr. Szozda moved on to the District Manager’s report and asked Mr. Mossing to present the discussion of the audit for fiscal year ending September 30, 2025.
Mr. Mossing made a few comments relating to the audit process stating the District received the audit Friday afternoon, and Sunday it was circulated to staff and the chairman for review. Some comments were exchanged relating to some of the narrative sections and those comments were provided to the auditors and now they were waiting

for a revised audit report for final review. He stated the audit report needed to be finalized by June 30th by Statute and the action from the Board would be to accept the audit versus approving the audit. He also stated the audit was a clean audit, the auditors gave it a clean opinion, and there were no findings in the audit for noncompliance, there were no findings related to internal controls and the audit was in good shape. Mr. Mossing then requested a motion to accept the draft audit that was included in the agenda subject to changes from staff and they would finalize the audit prior to the June 30th deadline and submit it to the Auditor General and various other agencies as required.
Mr. Henry stated the audit report was included in the revised agenda that came out. He then gave a brief explanation of the item that was changed in reducing the cost of what was being done with St. Lucie West stating that paragraph just needed to be cleaned up a little bit and was not a substantive change to the audit itself, so he recommended approving the audit subject to those staff changes.

On MOTION by Mr. Surber seconded by Mr. Planas with all in favor, accepting the draft audit for Fiscal Year ending in September 30, 2025 subject to staff changes as stated on the record was approved.

Invoices from St. Lucie West Service District for Bulk Water and Sewer
Time Sheets for Plant Operations and Rick Riniolo for Underground Services
Mr. Szozda then presented the invoices from St. Lucie West Services District for bulk water and sewer, and also the time sheets for Rick Riniolo for underground services stating these items were included in the agenda for informational purposes only.

SIXTH ORDER OF BUSINESS	Financial Reports
Approval of Check Run Summary
Approval of the Unaudited Financials
Mr. Szozda presented the check run summary which was included in the agenda package and asked for any comments or questions on the check register. (There were no comments at this time)

On MOTION by Mr. Planas seconded by Mr. Surber with all in favor, the Check Run Summary was approved.

Mr. Szozda then presented the unaudited financials and asked for any comments or questions.
Mr. Henry made a few comments relating to the unaudited financials at this time.

On MOTION by Mr. Henry seconded by Mr. Surber with all in favor, the Unaudited Financials were approved.

SEVENTH ORDER OF BUSINESS	Supervisors	Requests	and
Audience Comments
Mr. Szozda asked for any Supervisor’s requests at this time
Mr. Surber commented on a complaint from residents at The Pines relating to an incident that happened with shrub/plants that were located in front of the water meters why were they now being removed.
Mr. Szozda then stated there were no members of the public in the audience for any comments.

EIGHTH ORDER OF BUSINESS	Adjournment
Mr. Szozda then asked for a motion to adjourn the meeting.

On MOTION by Mr. Surber seconded by Mr. Wright with all in favor, the Meeting was adjourned.

Secretary / Assistant Secretary	Chairman / Vice Chairman

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CLIENT NAME & ADDRESS	
RESERVE COMMUNITY DEVELOPMENT 5385 N NOB HILL RD
SUNRISE FL 33351-4761	

ACCOUNT INFORMATION	
ACCOUNT	XXXXXX0034	SUMMARY	
CUSTOMER	BUSINESS BANKING	
SERVICE:	CUSTOMER SERVICE	
TELEPHONE:	1-877-BUS-BNKG Option #4	

ANALYSIS PERIOD	
05/01/2026 lo 05/31/2026	

ACCOUNT ANALYSIS STATEMENT

Page 1 of 6  �PNC

STATEMENT DATE	

JUNE 11, 2026	

BANK NUMBER	ACCOUNT NUMBER	ACCOUNT NAME	ACCOUNT TITLE	
001	XXXXXX7724	RESERVE COMMUNITY DEVELO		

ACCOUNTS INCLUDED IN THIS ANALYSIS

GO PAPERLESS. SIGN-UP TODAY FOR FREE ONLINE CORPORATE ACCOUNT ANALYSIS STATEMENTS THAT YOU CAN /'CCESS VIA PINACLE.

ENROLL TODAY. FOR MORE INFORMATION, CALL TREASURY MANAGEMENT CARE CENTER AT 1-800-669-1518 OR CONlACT YOUR TREASURY MANAGEMENT OFFICER.
A MINIMUM AVERAGE MONTHLY BALANCE MUST BE MAINTAINED TO WAIVE THE TREASURY ENTERPRISE (TE) MAINTENANCE FEE FOR A BILLING CYCLE. ADDITIONAL FEES MAY BE ASSESSED FOR ACCOUNTS, DEPOSITS AND TRANSACTION ACTIVITY EXCEEDING TE LIMITS.
QUESTIONS? CONTACT YOUR TREASURY MANAGEMENT OFFICER.

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05/01/2026 to 05/31/2026

ANALYSIS PERIOD

CLIENT NAME & ADDRESS	
RESERVE COMMUNITY DEVELOPMENT 5385 N NOB HILL RD
SUNRISE FL 33351-4761	

ACCOUNT INFORMATION	
ACCOUNT	XX:XXXX0034	SUMMARY	
CUSTOMER	BUSINESS BANKING	
SERVICE:	CUSTOMER SERVICE	
TELEPHONE:	1-877-BUS-BNKG Option #4	
BILLING CYCLE	MONTHLY	

STATEMENT DATE	

JUNE 11, 2026	

ACCOUNT ANALYSIS STATEMENT

CURRENT MONTHLY BALANCE & COMPENSATION	
AVERAGE LEDGER BALANCE	158,100.06	EARNINGS ALLOWANCE (0.019 %)	2.44	
		TOTAL ANALYZED CHARGES	751.19	
LESS: DEPOSIT FLOAT	4,429.97	EXCESS/(DEFICIT) FEES	748.75-	
	
	TOTAL AMOUNT DUE	748.75	
AVERAGE COLLECTED BALANCE	153,670.09		(DEBIT)	
LESS: RESERVES( 0.00%)	0.00			
INVESTABLE BALANCE	

153,670.09			
COLLECTED BALANCE REQUIRED	47,310,276.72			
EXCESS/(DEFICIT) BALANCE	47,156,606.63-			

YOUR ACCOUNT XXXXXX7724 WILL BE CHARGED ON THE LAST BUSINESS DAY OF THE MONTH FOR THE ABOVE NOTED DEFICIENCY AMOUNT.

SERVICE DESCRIPTION	AFP	CODE	VOLUME	UNIT PRICE	TOTAL PRICE	vULLt:Li 11::U
BALANCE REQUIRED	
REMOTE DEPOSIT	10

20
20
20

25
25
25
25

35
99
99
40

99	99

00
00
02

05
01
04
10

05
99
99
99

99	99

00
10
01

05
02
00
50

51
99
99
99

99	1

1
1
36

2
1,080
3
1

7
3
1
5

1	40.0000

80.0000
35.0000
0.0400

5.0000
0.3500
3.0000
22.0000

0.7500
3.5000
35.0000
25.0000

2.0000			
DEPOSIT ON-SITE MONTHLY FEE						40.00	2,519,217.60	
						$40.00	$2,519,217.60	
CHECK DISBURSEMENT SERVICES								
CHECK POSITIVE PAY MONTHLY						80.00	5,038,435.20	
FULL RECON MONTHLY						35.00	2,204,315.40	
INPUT/TRANSMISSION ITEMS						1.44	90,691.83	

�UTOMATED CLEARINGHOUSE SERVICES						$116.44	$7,333,442.43	
PINACLE ACH FILE PROCESSED						10.00	629,804.40	
PINACLE ACH DEBIT/CREDIT ORIGINATED						378.00	23,806,606.32	
ACH RETURN ITEM						9.00	566,823.96	
ACH POSITIVE PAY MONTHLY SERVICE						22.00	1,385,569.68	

INFORMATION SERVICES						$419.00	$26,388,804.36	
PINACLE ACH FUNDS TXFER TEMPLATES						5.25	330,647.31	
PINACLE ACH SPECIAL REPORT						10.50	661,294.62	
						35.00	2,204,315.40	
PINACLE PLATFORM MONTHLY								
						125.00	7,872,555.00	
PINACLE MODULE FEES								
						$175.75	$11,068,812.33	
I\AISCELLANEOUS
PRINTED ANALYSIS STATEMENT FEE						
2.00	
WAIVED	
						$2.00	$0.00	

SUMMARY OF ACCOUNT SERVICES

Vi!:llt us at pr,c.com

ANALYSIS PERIOD	
05/01/2026 to 05/31/2026	

ACCOUNT ANALYSIS STATEMENT

CLIENT NAME & ADDRESS	
RESERVE COMMUNITY DEVELOPMENT 5385 N NOB HILL RD
SUNRISE FL 33351-4761	

ACCOUNT INFORMATION	
ACCOUNT	XXX:XXX0034	SUMMARY	
CUSTOMER	BUSINESS BANKING	
SERVICE:	CUSTOMER SERVICE	
TELEPHONE:	1-877-BUS-BNKG Option #4	
BILLING CYCLE	MONTHLY	

STATEMENT DATE	

JUNE 11, 2026	

SUMMARY OF ACCOUNT SERVICES
SERVICE DESCRIPTION	AFP CODE	VOLUME	UNIT PRICE	TOTAL PRICE	COLLl::GTl::D
BALANCE REQUIRED	
TOTAL ANALYZED CHARGES :

TOTAL CHARGES THIS CYCLE : TOTAL WAIVED CHARGES:				$751.19	$47,310,276, 72	
				$753.19
$2.00	$47,310,276.72
WAIVED	

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Visit us at pnc.com

CLIENT NAME & ADDRESS	
RESERVE COMMUNITY DEVELOPMENT 2160 RESERVE PARK TRACE
PORT ST. LUCIE FL 34986	

ACCOUNT INFORMATION	
ACCOUNT	XXXXXX7724	
CUSTOMER	BUSINESS BANKING	
SERVICE:	CUSTOMER SERVICE	
TELEPHONE:	1-877-BUS-BNKG Option #4	
BILLING CYCLE	MONTHLY	

ANALYSIS PERIOD	
05/01/2026 to 0513112026	

STATEMENT DATE	

JUNE 11, 2026	

ACCOUNT ANALYSIS STATEMENT

CURRENT MONTHLY BALANCE & COMPENSATION	
AVERAGE LEDGER BALANCE	158,100.06	EARNINGS ALLOWANCE (0.019 %)	2.44	
		TOTAL ANALYZED CHARGES	751.19	
LESS: DEPOSIT FLOAT	4,429.97	EXCESS/(DEFICIT) FEES	748.75-	
	
	(TRANSFERRED TOXXXXXX0034)	
AVERAGE COLLECTED BALANCE	153,670.09		
LESS: RESERVES( 0.00%)	0.00		
INVESTABLE BALANCE	

153,670.09		
COLLECTED BALANCE REQUIRED	47,310,276.72		
EXCESS/(DEFICIT) BALANCE	47,156,606.63-		

SUMMARY OF ACCOUNT SERVICES
SERVICE DESCRIPTION	AFP	CODE	VOLUME	UNIT PRICE	TOTAL PRICE	COLLECI ED
BALANCE REQUIRED	
REMOTE DEPOSIT	10

20
20
20

25
25
25
25

35
99
99
40

99	99

00
00
02

05
01
04
HI

05
99
99
99

99	99

00
10
01

05
02
00
50

51
99
99
99

99	1

1
1
36

2
1,080
3
1

7
3
1
5

1	40.0000

80.0000
35.0000
0.0400

5.0000
0.3500
3.0000
22.0000

0.7500
3.5000
35.0000
25.0000

2.0000			
							2,519,217.60	
DEPOSIT ON-SITE MONTHlY FEE						40.00		

CHECK DISBURSEMENT SERVICES						$40.00	$2,519,217.60	
								
CHECK POSITIVE PAY MONTHLY						80.00	5,038,435.20	
						35.00	2,204,315.40	
FULL RECON MONTHLY								
INPUT/TRANSMISSION ITEMS						1.44	90,691.83	
						$116.44	$7,333,442.43	
�UTOMATED CLEARINGHOUSE SERVICES
PINACLE ACH FILE PROCESSED							
629,804.40	
							23,806,606.32	
PINA.CLE ACH DEBIT/CREDIT ORIGINATED						378.00		
ACH RETURN ITEM						9.00	566,823.96	
ACH POSITIVE PAY MONTHLY SERVICE						22.00	1,385,569.68	
						$419.00	$26,388,804.36	
INFORMATION SERVICES
PINACLE ACH FUNDS TXFER TEMPLATES						
5.25		
PINACLE A.CH SPECIAL REPORT						10.50	661,294.62	
PINACLE PLATFORM MONTHLY						35.00	2,204,315.40	
PiNACLE MODULE FEES						125.00	7,872,555.00	
						$175.75	$11,068,812.33	
MISCELLANEOUS
PRINTED ANALYSIS STATEMENT FEE						
2.00	
WAIVED	
						$2.00	$0.00	
TOTAL ANALYZED CHARGES :						$751.19	$47,310,276.72	

ANALYSIS PERIOD	
05/0112026 to 05/31/2026	

ACCOUNT ANALYSIS STATEMENT

CLIENT f�AME & ADDRESS	
RESERVE COMMUNITY DEVELOPMENT
2160 RESERVE PARl<TRACE PORT ST. LUCIE FL 34986	

ACCOUNT INFORMATION	
ACCOUNT	XXXXXX7724	
CUSTOMER	BUSINESS BAIJl<ING	
SERVICE:	CUSTOMER SERVICE	
TELEPHONE:	1-877-BUS-BNKG Option #4	
BILLING CYCLE	MONTHLY	

STATEMENT DATE	

JUNE 11, 2026	

SUMMARY OF ACCOUNT SERVICES
SERVICE DESCRIPTION	AFP CODE	VOLUME	UNIT PRICE	TOTAL PRICE	CULLtCTED
BALANCE REQUIRED	
TOTAL CHARGES THIS CYCLE: TOTAL WAIVED CHARGES:				$753.19
$2.00	$47,310,276.72
WAIVED	

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w,

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0

0
0....
i?,

0

0
0....

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CLIENT NAME & ADDRESS	
RESERVE COMMUNITY DEVELOPMENT 5385 N NOB HILL RD
SUNRISE FL 33351-4761	

ACCOUt-JT INFORMATION	
ACCOUNT	)()()()()()(0034	SUMMARY	
CUSTOMER	BUSINESS BANKING	
SERVICE:	CUSTOMER SERVICE	
TELEPHONE:	1-877-BUS-BNKG Option #4	
BILLING CYCLE	MONTHLY	

ANALYSIS PERIOD	
05/01/2026 to 05/31/2026	

ACCOUNT ANALYSIS STATEMEt.ff

JUNE 11, 2026

STATEMENT DATE

YEAR-TO-DATE RELATIONSHIP SUMMARY

MONTH	ADJUSTED AVERAGE
LEDGER BALANCE	ADJUSTED COLLECTED BALANCE	EARNINGS CREDIT RATE	TOTAL ACTIVITY CHARGES	COLLECTED
BALANCE REQUIRED	
EXCESS/(DEFICIT) BALANCE	
EXCESS/(DEFIC!T) FEE EQUIVALENT	

µANUARY	
166,218.10	
164,100.04	
.023821	
774.62	
38,287,754.69	
38,123,654.65-	
771.30-	
FEBRUARY	161,532.20	158,766.95	.021265	739.75	45,347,614.49	45,188,847.54-	737.16-	
MARCH	195,071.09	191,447.12	.034686	724.80	24,603,401.23	24,411,954.11-	719.16-	
PTR TOTAL	174,273.80	171,438.04		2,239.17	36,079,590.14	35,908,152.10-	2,227.62-	
11\PRIL	263,805.23	261,135.96	.052135	743.69	17,355,381.97	17,094,246.01-	732.50-	
MAY	158,100 06	153,670.09	.018695	751.19	47,310,276.72	47,156,606.63-	748.75-	
PTRTOTAL	210,952.65	207,403.03		1,494.88	32,332,829.35	32,125,426.32-	1,481.25-	

YTDTOTAL	
188,945.34	
185,824.03	
.030120	
3,734.05	
34,580,885.82	
34,395,061.79-	
3,708.87-	

June 5, 2026

To the Board of Supervisors
Reserve Community Development District St. Lucie County, Florida

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

We have audited the financial statements of Reserve Community Development District (“District”) as of and for the fiscal year ended September 30, 2025, and have issued our report thereon dated June 5, 2026. Professional standards require that we advise you of the following matters relating to our audit.

We have also examined the District’s compliance with the requirements of Section 218.415, Florida Statutes, in accordance with Rule 10.556(10) of the Auditor General of the State of Florida during the fiscal year ended September 30, 2025 which was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.
Our Responsibility in Relation to the Financial Statement Audit

Our responsibility, as described by professional standards, is to form and express an opinion(s) about whether the financial statements that have been prepared by management with your oversight are presented fairly, in all material respects, in accordance with accounting principles generally accepted in the United States of America. Our audit of the financial statements does not relieve you or management of your respective responsibilities.

Our responsibility, as prescribed by professional standards, is to plan and perform our audit to obtain reasonable, rather than absolute, assurance about whether the financial statements are free of material misstatement. An audit of financial statements includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control over financial reporting. Accordingly, as part of our audit, we considered the internal control of the District solely for the purpose of determining our audit procedures and not to provide any assurance concerning such internal control.
We are also responsible for communicating significant matters related to the audit that are, in our professional judgment, relevant to your responsibilities in overseeing the financial reporting process.
However, we are not required to design procedures for the purpose of identifying other matters to communicate to you.

Any findings regarding significant deficiencies or material weaknesses in internal control over financial reporting, material noncompliance, or other matters noted during our audit, if any, are communicated in separate reports included in the District’s financial report—titled Independent Auditor’s Report on Internal Control Over Financial Reporting and Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards and Management Letter Pursuant to the Rules of the Auditor General of the State of Florida.

Planned Scope and Timing of the Audit
We conducted our audit consistent with the planned scope and timing we previously communicated to you.

Compliance with All Ethics Requirements Regarding Independence

The engagement team, others in our firm, as appropriate, and our firm, have complied with all relevant ethical requirements regarding independence.
With respect to financial statement preparation, the following safeguards are in place:
Management made all decisions and performed all management functions;
A competent individual was assigned to oversee the services;
Management evaluated the adequacy of the services performed;
Management evaluated and accepted responsibility for the result of the service performed; and
Management established and maintained internal controls, including monitoring ongoing activities.
Qualitative Aspects of the Entity’s Significant Accounting Practices
Significant Accounting Policies

Management is responsible for selecting and applying appropriate accounting policies. A summary of the significant accounting policies adopted by the District is included in Note 2 to the financial statements. There were no new accounting policies adopted and no changes in existing significant accounting policies or their application during the fiscal year, other than those described in Note 2, if any. No matters came to our attention that, under professional standards, we are required to inform you about concerning (1) the methods used to account for significant unusual transactions or (2) the effect of significant accounting policies in controversial or emerging areas for which there is a lack of authoritative guidance or consensus.
Significant Accounting Estimates

Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s current judgments. Those judgments normally reflect management’s knowledge and experience about past and current events and assumptions about future events.

Certain accounting estimates, if present, may be particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them could differ markedly from management’s current judgments.

In connection with our audit, we considered the reasonableness of the accounting estimates used by management. The most sensitive accounting estimate(s) affecting the financial statements included, as applicable:

Management’s estimate of the useful lives of capital assets.
Management’s estimate of the liability for employee compensated absences.
Management’s estimate of the Net Other Post-Employment Benefits (OPEB) liability.
Management’s estimate of the Net Pension Liability.

If none of the above estimates or other sensitive estimates were applicable in the current year, this section should be read to indicate that no such significant accounting estimates were identified.

We evaluated the key factors and assumptions used by management to develop the estimate(s) and determined that they were reasonable in relation to the financial statements taken as a whole.

Financial Statement Disclosures

Certain financial statement disclosures involve significant judgment and are particularly sensitive because of their significance to financial statement users. The most sensitive disclosures affecting the District’s financial statements included, as applicable:

Long-term liabilities related to bonds payable and debt service requirements.
Litigation, claims, and assessments related to pending legal matters; and
Pension and Other Post-Employment Benefit (OPEB) plan disclosures.
If no such disclosures were identified for the current year, this section should be read to indicate that we did not note any financial statement disclosures involving significant judgment or sensitivity.

Circumstances Affecting the Auditor’s Report

Professional standards require us to communicate any circumstances that affect the form or content of our auditor’s report. If applicable, such circumstances—such as a modification of opinion, an emphasis-of-matter or other-matter paragraph, or a reference to substantial doubt about the District’s ability to continue as a going concern—are described in our auditor’s report included in the District’s financial report. If no such circumstances existed, this section should be read to indicate that our report was unmodified.

Significant Difficulties Encountered during the Audit

We encountered no significant difficulties in dealing with management relating to the performance of the audit.
Corrected Misstatements

Professional standards require us to communicate all material misstatements identified and corrected during the audit. Management has corrected all misstatements that were identified as a result of our audit procedures. Any such audit adjustments, if applicable, are summarized in the accompanying schedule of journal entries. If none were identified, this section should be read to indicate that we did not note any misstatements that were material, individually or in the aggregate, to the financial statements taken as a whole.

Disagreements with Management
For purposes of this letter, professional standards define a disagreement with management as a matter, whether or not resolved to our satisfaction, concerning a financial accounting, reporting, or auditing matter, which could be significant to the Districts’s financial statements or the auditor’s report. No such disagreements arose during the course of the audit.

Representations Requested from Management

Professional standards require that we obtain certain written representations from management as part of our audit. We have received such representations in a letter. A copy of this letter is available for your review upon request.

Management’s Consultations with Other Accountants
In some cases, management may decide to consult with other accountants about auditing and accounting matters. Management informed us that, and to our knowledge, there were no consultations with other accountants regarding auditing and accounting matters.

Other Significant Matters, Findings, or Issues

In the normal course of our professional association with the District, we generally discuss a variety of matters, including the application of accounting principles and auditing standards, significant events or transactions that occurred during the year, operating and regulatory conditions affecting the entity, and operational plans and strategies that may affect the risks of material misstatement. None of the matters discussed resulted in a condition to our retention as the District’s auditors.

As noted previously in this letter, any current-year findings identified during our audit are communicated in our separate reports titled Independent Auditor’s Report on Internal Control Over Financial Reporting and Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards and Management Letter Pursuant to the Rules of the Auditor General of the State of Florida. If no findings were identified, this section should be read to indicate that we did not note any additional significant matters or findings requiring communication to those charged with governance.

This report is intended solely for the information and use of the Board of Supervisors and management of the District and is not intended to be and should not be used by anyone other than these specified parties.

Grau & Associates

RESERVE
COMMUNITY DEVELOPMENT DISTRICT ST. LUCIE COUNTY, FLORIDA FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

RESERVE COMMUNITY DEVELOPMENT DISTRICT ST. LUCIE COUNTY, FLORIDA

TABLE OF CONTENTS

	Page	
INDEPENDENT AUDITOR’S REPORT	1-2	
MANAGEMENT’S DISCUSSION AND ANALYSIS	3-5	
BASIC FINANCIAL STATEMENTS		
Statement of Net Position	6	
Statement of Revenues, Expenses and Changes in Net Position	7	
Statement of Cash Flows	8	
Notes to the Financial Statements	9-15	
OTHER INFORMATION		
Data Elements required by FL Statute 218.39 (3) (c)	16	
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	

17-18	
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10)
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	

19	
MANAGEMENT LETTER REQUIRED BY CHAPTER 10.550 OF THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	
20-21	

INDEPENDENT AUDITOR’S REPORT

To the Board of Supervisors
Reserve Community Development District St. Lucie County, Florida

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying basic financial statements of Reserve Community Development District, St. Lucie County, Florida (“District”) as of and for the fiscal year ended September 30, 2025, and the related notes to the financial statements, which comprise the District’s basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the basic financial statements, and the respective changes in financial position, and cash flows thereof for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit 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 audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
The District’s management is responsible for the preparation and fair presentation of the 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.
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 twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.
Auditor’s Responsibilities 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 opinions. 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 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, we:
Exercise professional judgment 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 judgment, 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.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the 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 we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Information Included in the Financial Report
Management is responsible for the other information included in the financial report. The other information comprises the information for compliance with FL Statute 218.39 (3) (c), but does not include the financial statements and our auditor's report thereon. Our opinions on the financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated June 5, 2026, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control over financial reporting and compliance.

June 5, 2026

MANAGEMENT’S DISCUSSION AND ANALYSIS

Our discussion and analysis of Reserve Community Development District, St. Lucie County, Florida (“District”) provides a narrative overview of the District’s financial activities for the fiscal year ended September 30, 2025. Please read it in conjunction with the District’s Independent Auditor’s Report, basic financial statements, accompanying notes and supplementary information to the basic financial statements.

FINANCIAL HIGHLIGHTS

The assets of the District exceeded its liabilities at the close of the fiscal year ended September 30, 2025 by $5,941,208, an increase of $257,716 in comparison with the prior fiscal year.
OVERVIEW OF FINANCIAL STATEMENTS

This discussion and analysis are intended to serve as the introduction to the District’s financial statements. The District’s basic financial statements are comprised of the government-wide financial statements and notes to the financial statements.
Basic Financial Statements

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

The basic financial statements report on the function of the District that is principally supported by user fees and charges.
The statement of net position presents information on all the District’s assets, deferred outflows of resources, liabilities, and deferred inflows of resources with the residual amount being reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.

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

Proprietary Funds

The District maintains one type of proprietary fund: an enterprise fund. An enterprise fund is used to account for the operations of the water and sewer utility facilities within the District.
Notes to the Financial Statements

The notes provide additional information that is essential to a full understanding of the data provided in the basic financial statements.
BASIC FINANCIAL ANALYSIS

As noted earlier, net position may serve over time as a useful indicator of an entity’s financial position. In the case of the District, assets exceeded liabilities at the close of the fiscal year ended September 30, 2025.

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

NET POSITION SEPTEMBER 30,
2025	2024	
Current Assets	$	2,197,203	$	1,724,063	
Noncurrent Assets		4,467,405	4,715,512	
Total assets		6,664,608	6,439,575	
Current liabilities		441,672	474,355	
Long-term liabilities		281,728	281,728	
Total liabilities		723,400	756,083	
Net Position				
Net investment in capital assets	4,467,405	4,715,512	
Unrestricted	1,473,803	967,980	
Total net position	$	5,941,208	$	5,683,492	

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

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

	2025	2024	
Operating revenues	$	2,269,270	$	2,157,198	
Operating expenses:
Administrative and general	
255,883	
159,154	
Cost of sales and services	1,560,463	1,662,868	
Depreciation and amortization	262,022	261,904	
Total operating expenses	2,078,368	2,083,926	
Operating Income	190,902	73,272	
Non-operating: Interest income	
66,814	
61,082	
Total non-operating	66,814	61,082	
Change in net position	257,716	134,354	
Net position - beginning	5,683,492	5,549,138	
Net position - ending	$	5,941,208	$	5,683,492	

Business-type activities reflect the operations of the water and sewer facilities within the District. The cost of operations is covered primarily by charges to customers. The increase in operating revenues is primarily the result of increased rates during the current fiscal year. Operating expenses decreased as a result of a decrease in the repairs, maintenance and replacements.

Capital Assets
The District reported net capital assets of $4,467,405 for its business-type activities. More detailed information about the District’s capital assets is presented in the notes of the financial statements.

ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND OTHER EVENTS

During the current year, the District entered into an agreement with St. Lucie West Services District (“SLWSD”) to transfer ownership and operations of the District’s utility system. In order for SLWSD to provide water and wastewater services, certain service area improvements are required, which the CDD has agreed to undertake at its own expense. In addition, the CDD has agreed to obtain related engineering services at its own expense.
In accordance with the agreement, the District anticipates incurring approximately $7 million in capital expenditures for these projects. The District also anticipates future funding of approximately $7.34 million, which includes $3 million of proceeds from the sale of land.

CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT
This financial report is designed to provide our citizens, taxpayers, customers, investors and creditors with a general overview of the District’s finances and to demonstrate the District’s accountability for the financial resources it manages and the stewardship of the facilities it maintains. If you have questions about this report or need additional financial information, contact the Reserve Community Development District’s Finance Department at 5385 N. Nob Hill Road, Sunrise, Florida 33351.

STATEMENT OF NET POSITION SEPTEMBER 30, 2025

ASSETS
Current assets:
Cash and cash equivalents	$	154,593	
Investments	1,528,543	
Accounts receivable, net of allowance $9,248	237,420	
Prepaid items and deposits	4,457	
Restricted assets:		
Cash and investments - customer deposits		272,190 	
Total Current Assets		2,197,203 	

Noncurrent assets:
Capital assets:
Nondepreciable	563,850	
Depreciable, net		3,903,555 	
Total noncurrent assets		4,467,405 	
Total assets		6,664,608 	

LIABILITIES
Current liabilities:
Accounts payable and accrued expenses	122,069	
Unearned revenues	29,833	
Liabilities payable from restricted assets		
Customer deposits		289,770 	
Total current liabilities		441,672 	

Noncurrent liabilities:
Prepaid connections		281,728 	
Total noncurrent liabilities		281,728 	
Total liabilities		723,400 	

NET POSITION		
Net investment in capital assets	4,467,405	
Unrestricted		1,473,803 	
Total net position	 $	5,941,208 	

See notes to the financial statements

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

OPERATING REVENUES
Charges for services	
$	2,256,719	
Miscellaneous revenue		12,551 	
Total operating revenues		2,269,270 	

OPERATING EXPENSES
General and administrative	

255,883	
Water and sewer	1,560,463	
Depreciation and amortization		262,022 	
Total operating expenses		2,078,368 	
OPERATING INCOME	190,902	
NON-OPERATING REVENUES (EXPENSES)
Interest income	
	66,814 	
Total non-operating revenues (expenses)		66,814 	
Change in net position	257,716	
Total net position - beginning		5,683,492 	
Total net position - ending	 $	5,941,208 	

See notes to the financial statements

STATEMENT OF CASH FLOWS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

CASH FLOW FROM OPERATING ACTIVITIES
Receipts from customers and users	$	2,224,503	
Receipts from other sources	12,551	
Payments to suppliers	(1,677,671)	
Payments to employees		(93,380)	
Net Cash Provided (Used) by Operating Activities		466,003 	

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Purchase of capital assets		(13,915)

(Purchase) sale of investments	(416,814)	
Interest income		66,814 	
Net Cash Provided (Used) by Investing Activities		(350,000)	
NET CHANGE IN CASH AND CASH EQUIVALENTS	102,088	
CASH AND CASH EQUIVALENTS - OCTOBER 1		52,505 	
CASH AND CASH EQUIVALENTS - SEPTEMBER 30	 $	154,593 	

RECONCILIATION OF OPERATING INCOME (LOSS) TO
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES
Operating income (loss)	

$	190,902	
ADJUSTMENTS TO RECONCILE OPERATING INCOME (LOSS)		
TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES:	
Depreciation and amortization	262,022	
(Increase) / decrease in accounts receivable	(7,780)	
(Increase) / decrease in prepaid expenses and deposits	53,542	
(Decrease) / increase in accounts payable and accrued liabilities	(8,247)	
(Decrease) / increase in unearned revenue	(28,286)	
(Decrease) / increase in customer deposits		3,850 	
Total adjustments		275,101 	

Net cash provided (used) by capital and related financing activities		(13,915) CASH FLOW FROM INVESTING ACTIVITIES

NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES	 $	466,003 

See notes to the financial statements

NOTES TO FINANCIAL STATEMENTS

NOTE 1 – NATURE OF ORGANIZATION AND REPORTING ENTITY

Reserve Community Development District ("the District") was created on February 15, 1992 pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes, by St. Lucie County. The Act provides among other things, the power to manage basic services for community development, power to borrow money and issue bonds, and to levy and assess non-ad valorem assessments for the financing and delivery of capital infrastructure.

The District was established for the purposes of financing and managing the planning, maintenance and operation of a water and wastewater system within the District in accordance with powers established by Florida Statute Chapter 190.
The District is governed by the Board of Supervisors ("the Board") which is composed of five members. The Supervisors are elected on an at large basis by the owners of the property within the District. The Board of Supervisors of the District exercises all powers granted to the District pursuant to Chapter 190, Florida Statutes.
The District has the final responsibility for:
Assessing and levying maintenance taxes and special assessments.
Approving budgets.
Exercising control over facilities and properties.
Controlling the use of funds generated by the District.
Approving the hiring and firing of key personnel.
Financing improvements.

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

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Accounting
The District reports all of its activities and functions in a single enterprise fund. The enterprise fund is used to account for the operation of a water and wastewater utility system. The costs of providing services are recovered primarily through user charges.

Enterprise funds are proprietary funds. The measurement focus is based upon determination of net position, financial position and changes in cash flow. The generally accepted accounting principles used are those applicable to similar businesses in the private sector, thus, these funds are maintained on the accrual basis of accounting. Enterprise funds are used to account for operations (a) that are financed and operated in a manner similar to private enterprises, where the intent of the governing body is that the costs (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or (b) when the governing body has decided that periodic determination of net income is appropriate for capital maintenance, public management control, accountability, or other purposes. Revenues are recognized when earned and expenses are recognized when incurred. All assets and liabilities (whether current or noncurrent) associated with an activity are included in the statement of net position. The reported net position is segregated into invested in capital assets net of related debt, restricted and unrestricted assets.

Basis of Accounting (Continued)
Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of the District’s enterprise fund are charges to customers for sales and services. Operating expenses of the enterprise fund include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses.

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

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

Deposits and Investments
The government’s cash and cash equivalents are considered to be cash on hand and demand deposits.
The District has elected to proceed under the Alternative Investment Guidelines as set forth in Section
218.415 (17) Florida Statutes. The District may invest any surplus public funds in the following:

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

Securities listed in paragraphs c and d shall be invested to provide sufficient liquidity to pay obligations as they come due.
The District records all interest revenue related to investment activities in the respective funds. Investments are measured at amortized cost or reported at fair value as required by generally accepted accounting principles.

Inventories and Prepaid Items
Inventories represent meter supply carried at historical cost determined on a first-in, first-out basis. The District does not have any material inventory balances as of September 30, 2025.

Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items.
Capital Assets
Property and equipment are stated at cost. Capital assets are defined by the government as assets with an initial, individual cost of more than $5,000 (amount not rounded) and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value at the date of donation.

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

Assets, Liabilities and Net Position or Equity (Continued)
Capital Assets (Continued)
Property, plant and equipment of the District are depreciated using the straight-line method over the following estimated useful lives:
Assets	Years	
Buildings and improvements	10 - 50	
Plant expansion	24	
Equipment	5 - 30	

Unearned Revenue
Proprietary funds report unearned revenue in connection with resources that have been received, but not yet earned.

Long-Term Obligations
In the basic financial statements, long-term debt and other long-term obligations are reported as liabilities in the statement of net position. Bond premiums and discounts are deferred and amortized over the life of the Bonds using the straight-line method. Bonds are reported net of the applicable bond premium or discount. Bond issuance costs are expensed when incurred.

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

In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.
Net Position
Net position is the difference between assets and deferred outflows of resources less liabilities and deferred inflows of resources. Net position in the government-wide financial statements is categorized as net investment in capital assets, restricted net position and unrestricted net position. Net investment in capital assets represents net position related to infrastructure and property, plant and equipment. Restricted net position represents the assets restricted by the District’s Bond covenants or other contractual restrictions. Unrestricted net position consists of the net position not meeting the definition of either of the other two components.

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

NOTE 3 – DEPOSITS AND INVESTMENTS

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

Investments
The District’s investments were held as follows at September 30, 2025:
Amortized Cost	Credit Risk	Maturities

Investment in Local Government Surplus Funds Trust Fund (Florida PRIME)
Total Investments

$	1,800,733	S&P AAAm

 $	1,800,733 

Average of the fund portfolio: 47 days

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

Credit risk – For investments, credit risk is generally the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Investment ratings by investment type are included in the preceding summary of investments.
Interest rate risk – The District does not have a formal policy that limits investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates.
However, the Bond Indenture limits the type of investments held using unspent proceeds.

Fair Value Measurement – When applicable, the District measures and records its investments using fair value measurement guidelines established in accordance with GASB Statements. The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques.
These guidelines recognize a three-tiered fair value hierarchy, in order of highest priority, as follows:
Level 1: Investments whose values are based on unadjusted quoted prices for identical investments in active markets that the District has the ability to access;
Level 2: Investments whose inputs - other than quoted market prices - are observable either directly or indirectly; and,
Level 3: Investments whose inputs are unobservable.

The fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the entire fair value measurement. Valuation techniques used should maximize the use of observable inputs and minimize the use of unobservable inputs.
Money market investments that have a maturity at the time of purchase of one year or less and are held by governments other than external investment pools should be measured at amortized cost. For external investment pools that qualify to be measured at amortized cost, the pool’s participants should also measure their investments in that external investment pool at amortized cost for financial reporting purposes. Accordingly, the District’s investments have been reported at amortized cost above.

Investments (Continued)
External Investment Pool – With regard to redemption gates, Chapter 218.409(8)(a), Florida Statutes, states that “The principal, and any part thereof, of each account constituting the trust fund is subject to payment at any time from the moneys in the trust fund. However, the Executive Director may, in good faith, on the occurrence of an event that has a material impact on liquidity or operations of the trust fund, for 48 hours limit contributions to or withdrawals from the trust fund to ensure that the Board can invest moneys entrusted to it in exercising its fiduciary responsibility. Such action must be immediately disclosed to all participants, the Trustees, the Joint Legislative Auditing Committee, the Investment Advisory Council, and the Participant Local Government Advisory Council. The Trustees shall convene an emergency meeting as soon as practicable from the time the Executive Director has instituted such measures and review the necessity of those measures. If the Trustees are unable to convene an emergency meeting before the expiration of the 48-hour moratorium on contributions and withdrawals, the moratorium may be extended by the Executive Director until the Trustees are able to meet to review the necessity for the moratorium. If the Trustees agree with such measures, the Trustees shall vote to continue the measures for up to an additional 15 days. The Trustees must convene and vote to continue any such measures before the expiration of the time limit set, but in no case may the time limit set by the Trustees exceed 15 days.” With regard to liquidity fees, Florida Statute 218.409(4) provides authority for the SBA to impose penalties for early withdrawal, subject to disclosure in the enrollment materials of the amount and purpose of such fees. At present, no such disclosure has been made.

As of September 30, 2025, there were no redemption fees or maximum transaction amounts, or any other requirements that serve to limit a participant’s daily access to 100% of their account value.

NOTE 4 – CAPITAL ASSETS
Capital asset activity for the fiscal year ended September 30, 2025 was as follows:

Beginning Balance

Additions	Reductions

Ending Balance

Capital assets, not being depreciated
Land	
$	563,850	
$	-	
$	-	
$	563,850	
Total capital assets, not being depreciated	563,850	-	-	563,850	

Capital assets, being depreciated Buildings and improvements	

4,344,723	

-	

-	

4,344,723	
Plant expansion	2,710,966	-	-	2,710,966	
Equipment	1,340,973	13,915	-	1,354,888	
Total capital assets, being depreciated	8,396,662	13,915	-	8,410,577	

Less accumulated depreciation for: Buildings and improvements	

2,500,101	

98,415	

-	

2,598,516	
Plant expansion	1,344,802	112,896	-	1,457,698	
Equipment	400,097	50,711	-	450,808	
Total accumulated depreciation	4,245,000	262,022	-	4,507,022	

Total capital assets, being depreciated, net	
4,151,662	
(248,107)	
-	3,903,555	

Business-type activities capital assets	
$	4,715,512	
$	(248,107)	
$	-	$	4,467,405	

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

NOTE 6 – RISK MANAGEMENT
The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters. The District has obtained commercial insurance from independent third parties to mitigate the costs of these risks; coverage may not extend to all situations. There were no settled claims during the past three years.

NOTE 7 – INTERLOCAL AGREEMENTS

St. Lucie West Services District
On February 10, 1993, the District entered into an interconnect agreement with St. Lucie West Services District (“St. Lucie”), which was subsequently amended and restated on November 12, 2003, to interconnect the system to the water and sewer system owned and operated by St. Lucie. In accordance with the terms of the amended agreement, the District will compensate St. Lucie for the connection to their water and sewer system in the amount of $1,000 and $900, respectively, per equivalent residential connection (“ERC”), or the approved connection charge in effect throughout the service area of the Utility System at the time of payment. The interconnect agreement was further amended on May 1, 2013 with the First Amendment to Amended and Restated Interconnect Agreement, which amended the amount of capacity reserved and timing and payment of the water and sewer capacity reserved among other provisions of the interconnect agreement. The phase II sewer capacity of 700 ERC’s at $900 per ERC ($630,000) was paid in full by May 1, 2013. The phase II water capacity of 800 ERC’s at $1,235 per ERC ($988,000) has also been paid in full.

In September 2017, the District entered into a new agreement with St. Lucie County for the County to administer a project to permit, design, construct, and install the Sabal Creek MSBU Potable Water Improvements. The County shall issue revenue bonds secured by non-ad valorem assessments to complete the project. Any other applicable fees and charges for connection to the District’s Utility System will be the responsibility of the Landowners and/or the District. The District shall be responsible for operating and maintaining the Potable Water Improvements upon conveyance of the improvements by the County.
During the current year, the District entered into an agreement with St. Lucie West Services District (“SLWSD”) to transfer ownership and operations of the District’s utility system. SLWSD must escrow $1 million, cooperate in the transition, continue or resume providing service to Reserve customers on SLWSD procedures and rates unless a temporary rate subdistrict is created, and complete any needed SLWSD-side improvements. The existing Interconnect Agreement generally remains in effect until the contemplated transfer closes, or the agreement is terminated, with SLWSD’s termination suspended during the agreement, and connection-fee refunds addressed if the Interconnect Agreement ends without replacement.

School Board of St. Lucie County
In June 2018, the District entered into an agreement with The School Board of St. Lucie County (“The School Board”). The School Board agreed to purchase connection fees from Mainstreet Village II, LLC for approximately twenty-five ERC for both water and wastewater. During a prior fiscal year, The School Board paid Mainstreet the sum of $2,000 per ERC for water and wastewater capacity. The prepaid connection fees were recognized as revenue in a prior fiscal year. Upon completion of the connection, the District will provide water and wastewater services, at their applicable rates for service, in accordance with the Agreement and the School Board will maintain all facilities to which the services are provided.

NOTE 8 – DEVELOPER AGREEMENTS

The District entered into an agreement with Mainstreet Village II, LLC (“Mainstreet”) on March 11, 2008. Mainstreet owns or controls lands located in St. Lucie County, Florida. Mainstreet desires to promote the availability of central water and sewer facilities to occupants of each residential or commercial improvement constructed on its property. To induce the District to provide the water treatment and sewage collection and disposal facilities, and to continuously provide consumers located on the property with water and sewer services, Mainstreet agreed to construct and to transfer ownership and control to the District, or make payments on a basis of estimated cost of construction to the District in lieu of Mainstreet construction as a contribution-in-aid-of-construction, the on-site water distribution and sewage collection systems.

Upon completion of the installation, but prior to the issuance of the final letter of acceptance and the rendering of service by the District, Mainstreet prepaid fees and charges that are due under the terms of the agreement. Mainstreet paid the District connection fee charges to induce the District to reserve plant capacities for Mainstreet’s proposed connection and for defraying the District’s cost of water production, storage, and treatment, and its cost of wastewater treatment. Mainstreet prepaid and reserved 113 ERC of water and sewer capacity at $1,100 per ERC for water service availability and $900 per ERC of sewer availability. The District also imposed an inspection charge equal to its actual costs, not to exceed 2% of the construction cost, either actual or estimated, of the subject water and sewer facilities as installed by Mainstreet.

RESERVE COMMUNITY DEVELOPMENT DISTRICT ST. LUCIE COUNTY, FLORIDA
OTHER INFORMATION – DATA ELEMENTS REQUIRED BY FL STATUTE 218.39(3)(C)
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025 UNAUDITED

Element	Comments
Number of District employees compensated in the last pay period of the District’s fiscal year being reported.	2	
Number of independent contractors compensated to whom nonemployee compensation was paid in the last month of the District’s fiscal year being reported.	
5	
Employee compensation	$	75,254.03	
Independent contractor compensation	$	40,625.00	
Construction projects to begin on or after October 1; (>$65K)	None	
		
Non ad valorem special assessments;		
Special assessment rate	N/A	
Special assessments collected	N/A	
Outstanding Bonds:	None	

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
To the Board of Supervisors
Reserve Community Development District St. Lucie County, Florida
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the basic financial statements of Reserve Community Development District, St. Lucie County, Florida (“District”) as of and for the fiscal year ended September 30, 2025, and the related notes to the financial statements, which comprise the District’s basic financial statements, and have issued our opinion thereon dated June 5, 2026.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the District’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified.
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the District’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

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

June 5, 2026

INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10) OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
To the Board of Supervisors
Reserve Community Development District St. Lucie County, Florida
We have examined Reserve Community Development District, St. Lucie County, Florida’s (“District”) compliance with the requirements of Section 218.415, Florida Statutes, in accordance with Rule 10.556(10) of the Auditor General of the State of Florida during the fiscal year ended September 30, 2025. Management is responsible for the District’s compliance with those requirements. Our responsibility is to express an opinion on the District’s compliance based on our examination.

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

We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the examination engagement.
In our opinion, the District complied, in all material respects, with the aforementioned requirements for the fiscal year ended September 30, 2025.
This report is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, management, and the Board of Supervisors of Reserve Community Development District, St. Lucie County, Florida and is not intended to be and should not be used by anyone other than these specified parties.

June 5, 2026

MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL FOR THE STATE OF FLORIDA
To the Board of Supervisors
Reserve Community Development District St. Lucie County, Florida

Report on the Financial Statements
We have audited the accompanying basic financial statements of Reserve Community Development District ("District") as of and for the fiscal year ended September 30, 2025, and have issued our report thereon dated June 5, 2026.

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

Other Reporting Requirements
We have issued our Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; and Independent Auditor’s Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated June 5, 2026, should be considered in conjunction with this management letter.

Purpose of this Letter

The purpose of this letter is to comment on those matters required by Chapter 10.550 of the Rules of the Auditor General for the State of Florida. Accordingly, in connection with our audit of the financial statements of the District, as described in the first paragraph, we report the following:
Current year findings and recommendations.
Status of prior year findings and recommendations.
Compliance with the Provisions of the Auditor General of the State of Florida.
Our management letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, Federal and other granting agencies, as applicable, management, and the Board of Supervisors of Reserve Community Development District, St. Lucie County, Florida and is not intended to be and should not be used by anyone other than these specified parties.

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

June 5, 2026

REPORT TO MANAGEMENT

CURRENT YEAR FINDINGS AND RECOMMENDATIONS
None

PRIOR YEAR FINDINGS AND RECOMMENDATIONS

None
COMPLIANCE WITH THE PROVISIONS OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

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

A statement as to whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report.
There were no significant findings and recommendations made in the preceding annual financial audit report for the fiscal year ended September 30, 2024.
Any recommendations to improve the local governmental entity's financial management.
There were no such matters discovered by, or that came to the attention of, the auditor, to be reported for the fiscal year ended September 30, 2025.
Noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance.
There were no such matters discovered by, or that came to the attention of, the auditor, to be reported, for the fiscal year ended September 30, 2025.
The name or official title and legal authority of the District are disclosed in the notes to the financial statements.
The District has not met one or more of the financial emergency conditions described in Section 218.503(1), Florida Statutes.
We applied financial condition assessment procedures and no deteriorating financial conditions were noted as of September 30, 2025. It is management’s responsibility to monitor financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same.

Management has provided the specific information required by Section 218.39(3)(c) in the Other Information section of the financial statements on page 16.

ROBERT L. FROMM & ASSOCIATES 8101 SE SHILOH TERRACE HOBE SOUND, FLORIDA 33455
772-349-8065

August 1, 2026
Reserve CDD #1
5385 N. Nob Hill Road Sunrise, Florida 33351 Attention: Darrin Mossing

Invoice

Water and Sewer Fund

For consulting services to date including several meetings with SLWSD on the “Interconnect Agreement”, water and sewer matters, annual budget meetings and normal operational matters.

Review of 2027 Budget.

Additional discussion and email with hotel developer.

Meeting on 6-1-26 with HOA and Engineers on Legacy by Sea Pines Depression/Repair and continuing discussions.

Discussions of fees with George.
Several trips and meetings with Tina.

Discussions and emails with John Baker and Roberto on Replat and signatures to submit to the City.

Continuing negotiations with two buyers for land sale.
Emails between Engineer and City on Plat comments and rezoning.

Meeting with C&T on July 7 as the Bid Committee.

Review of numerous emails and discussions.
Discussions with Gary, Chuck, and Darrin on past due Stormwater Assessments on Condo, Plant, and Perc Ponds and commence negotiations with City for substantial reduction.

Total Amount Now Due·	$3,900.00

BILL TO:						
Name	 Reserve CDD (Interconnect)		
Address	 5385 N. Nob Hill Road		
City	Sunrise	State	FL	ZIP	33351	
Attn:	 Patti Powers						

	
REMIT TO:	
ST. LUCIE WEST SERVICES DISTRIC	
450 SW UTILITY DRIVE	
PORT ST. LUCIE, FL. 34986	

Invoice Number:	BW00180	

Statement Date:	Wednesday, June 3, 2026	

PLEASE MAKE CHECKS PAYABLE TO ST. LUCIE WEST SERVICES DISTRICT OR SLWSD AND REMIT TOP PORTION WITH PAYMENT

Gallons	Description	Unit Price	TOTAL	

14,797,704	Bulk water usage	Read Date	Read	End Date	Read
5/1/2026	282729259	6/1/2026	297526963	
$	3.64	
53,863.64	
	Base rate water	$	948.50	$	948.50	
10,275,000	Read Date	Read	End Date	Read
Bulk sewer usage	5/1/2026	348006	6/1/2026	358281	
$	4.04	
41,511.00	

May 2026 Usage

J. Miller, District Manager			
	M. Matos, Utility Billing Specialist			
	P. Powers, Reserve Utility			
Subtotal Shipping
For your records	Total
Due Date	$	96,323.14	
		
	$	96,323.14	
	7/3/2026	

Office Use Only	Initials	
Date Received	Check #	

ST. LUCIE WEST SERVICES DISTRICT	
450 SW UTILITY DRIVE	
PORT ST. LUCIE, FL 34986	
Tel: (772) 340-0220	
www.slwsd.org	

Invoice No.	BW00180	
Due Date	Amount Enclosed	
7/3/2026	$	

Comments:

Please note: Retain the bottom portion for your records.
.	.
450 SW Utility Dr., Port St. Lucie, FL 34986 Tel: (772) 340-0220 Fax: (772) 871-5771 www.slwsd.org Office Hours 8:00 AM - 4:00 PM Monday - Friday

Thursday	30-Apr	
Friday	1-May	
Saturday	2-May	
Sunday	3-May	
Monday	4-May	
Tuesday	5-May	
Wednesday	6-May	

4	
6	
5	
4	
5	
4	
4	

Total	32	

Dominic Smith

Thursday	
Friday	
Saturday	
Sunday	
Monday	
Tuesday	
Wednesday	

Total

call 8306 Belfry

Thursday	7-May	
Friday	8-May	
Saturday	9-May	
Sunday	10-May	
Monday	11-May	
Tuesday	12-May	
Wednesday	13-May	

	
4	
6	
4	
4	
5	
4	
4	

Total	30	

Dominic Smith

Thursday	
Friday	
Saturday	
Sunday	
Monday	
Tuesday	
Wednesday	

Total

Thursday	14-May	
Friday	15-May	
Saturday	16-May	
Sunday	17-May	
Monday	18-May	
Tuesday	19-May	
Wednesday	20-May	

	
4	
6	
4	
4	
4	
4	
4	

Total	30	

Dominic Smith

Thursday	
Friday	
Saturday	
Sunday	
Monday	
Tuesday	
Wednesday	

Total

Thursday	21-May	
Friday	22-May	
Saturday	23-May	
Sunday	24-May	
Monday	25-May	
Tuesday	26-May	
Wednesday	27-May	

	
4	
6	
4	
4	
4	
5	
5	

	
leak 10119 Wild Quail	
leak 7230 Reserve Creek Dr	

Total	32	

Dominic Smith

Thursday			
Friday	22-May	$300.00 meters	
Saturday			
Sunday			
Monday			
Tuesday			
Wednesday			

Total

Thursday	28-May	
Friday	29-May	
Saturday	30-May	
Sunday	31-May	
Monday	1-Jun	
Tuesday	2-Jun	
Wednesday	3-Jun	

	
4	
6	
4	
4	
4	
4	
4	

Total	30	

Dominic Smith

Thursday	
Friday	
Saturday	
Sunday	
Monday	
Tuesday	
Wednesday	

Total

Reserve
COMMUNITY DEVELOPMENT DISTRICT

Fiscal Year 2026
Check Register

Date	check #'s	Amount		

5/1-5/31	

14363-14390		

$168,263.30	
	AUTOPAY		$5,770.86	
	TOTAL		$174,034.16	

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	7/05/26	PAGE	1
*** CHECK DATES 05/01/2026 - 05/31/2026 ***	RESERVE CDD - WATER/SEWER FUND
BANK A RESERVE CDD - WS
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#

JUN 26	- CONSULTING SVCS	ROBERT	L. FROMM ASSOCIATES	3,400.00	014363	
- - - - - - - -	- - - - - - -	- -	- - - - - - - - - - - - -	- - - - - - - - - -	-	-	-	-	-	-	- -	-	-	-	-	-	- - - - -	- - - - -	- - -	
578	202605 310-53600-34000	*	3,895.50	
MAY	26	- MGMT FEES	
578	202605 310-53600-44000	*	110.25	
MAY	26	- RENT	
578	202605 310-53600-35100	*	137.83	
MAY	26	- COMPUTER TIME	
578	202605 310-53600-49500	*	91.92	
MAY	26	- WEBSITE ADMIN	
578	202605 310-53600-42000	*	25.16	
MAY	26	- POSTAGE	
579	202605 320-53600-34400	*	7,304.67	
MAY	26	- UTILITY BILLING	

5/14/26 00009	6/01/26 06012026 202606 320-53600-34400	*	3,400.00

5/14/26 00486	5/01/26	
	5/01/26	
	5/01/26	
	5/01/26	
	5/01/26	
	5/01/26	
GOVERNMENTAL MANAGEMENT SERVICES -	11,565.33 014364
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/14/26 00749	5/11/26 11363807 202604 300-16400-30000	*	1,567.50
APR 26 - LAND
5/11/26 11363807 202604 300-16900-20100	*	3,485.50
APR 26 - FORCE MANIN SVC
5/11/26 11363807 202604 310-53600-31500	*	1,557.50

GRAY	ROBINSON,	PA	6,610.50	014365	
- - - - - - - -	- - - - - - - - -	- - - - - - - - - - - -	- - - - -	- -	-	-	-	-	-	-	-	-	-	-	- -	-	-	-	-	-	- - - - -	- - - - -	- - -	
5/14/26 00723	4/30/26	309309	202604 320-53600-42000	*	2,326.97	
APR 26	- MONTHLY MAILING	
5/01/26	309655
APR 26	202604 320-53600-42000	*	102.23	

APR 26 - GENERAL COUNSEL

- MONTHLY SUPPORT
INFOSEND, INC.	2,429.20 014366
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/14/26 00722	5/01/26 26251	202605 320-53600-49100	*	3,750.00
ANNUAL SVC AGREEMENT
INTRACOASTAL GENERATORS, INC.	3,750.00 014367
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/14/26 00022	5/13/26 05132026 202605 320-53600-34400	*	725.00
CONSULT SVCS 2/21-5/13
GEORGE A. MORGAN, SR.	725.00 014368
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/14/26 00057	5/04/26 BW00179	202604 320-53600-43100	*	97,397.65 APR 26 - BULKWATER
ST. LUCIE WEST SERVICES DISTRICT	97,397.65 014369
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/14/26 00595	4/30/26 PS-INV10 202604 320-53600-49100	*	68.73
APR 26 - TICKETS
SUNSHINE STATE ONE CALL	68.73 014370
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	7/05/26	PAGE	2
*** CHECK DATES 05/01/2026 - 05/31/2026 ***	RESERVE CDD - WATER/SEWER FUND
BANK A RESERVE CDD - WS
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
5/14/26 00773	5/05/26 12315568 202605 310-53600-48000	*	145.08
QUALIFYING PD. CANDIDATES
USA TODAY MEDIA CORP.	145.08 014371
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/29/26 00027	5/10/26 77246412 202605 320-53600-41000	*	498.75
MAY 26 - TEL/INTERNET
AT&T	498.75 014372
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/29/26 00766 10/14/25 1963	202510 320-53600-49100	*	3,250.00
CUT ASPHALT/ROAD SINKING
BAKER UNDERGROUND CONTRACTORS, LLC	3,250.00 014373
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/29/26 00647	5/14/26 05142026 202605 320-53600-46000	*	250.00
MAY 26 - MOWING
BAUTISTA & SONS LAWN MAINTENANCE	250.00 014374
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/29/26 00770	5/28/26 103815	202604 300-16900-20100	*	29,846.25
APR 26-WATER/FORCE MAIN
5/28/26 103816	202604 300-16400-30000	*	3,125.00
WATER/WASTEWATER SUPPORT
5/28/26 103817	202604 300-16900-20000	*	3,350.00

CULPEPPER	& TERPENING INC	36,321.25	014375	
- - - -	- - -	-	- - - -	- - - - -	- - - - - - - - - - - - - - - - - - - - - - -	-	-	-	-	-	-	- - - - -	- - - - - -	-	- - - - -	- - -	
5/29/26	00739	5/08/26	67800309	202605 320-53600-52000	*	280.00	
E. COLI	& TOTAL COLIFORM	
EUROFINS ENVIRONMENT	280.00	014376	
- - - -	- - -	-	- - - -	- - - - -	- - - - - - - - - - - - - - - - - - - - - - -	-	-	-	-	-	-	- - - - -	- - - - - -	-	-	- - - -	- - -	
5/29/26	00743	5/01/26	FCCFL/26 202605 320-53600-52000	*	237.11	
FCC ENVIRONMENTAL SERVICES	237.11	014377	
- - - -	- - -	-	- - - -	- - - - -	- - - - - - - - - - - - - - - - - - - - - - -	-	-	-	-	-	-	- - - - -	- - - - - -	-	-	- - - -	- - -	
5/29/26	90000	5/29/26	01120905	202605 300-11500-10000	*	97.52	
001120905 LAYELL, STEVIE	
LAYELL, STEVIE & RHONDA	97.52	014378	
- - - -	- - -	-	- - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - -	-	-	-	-	-	-	- - - - -	- - - - - -	-	-	- - - -	- - -	
5/29/26	90000	5/29/26	01219203 202605 300-11500-10000	*	98.48	
001219203 GLIES, CHRISTIN	
GLIES, CHRISTINE & DONALD	98.48	014379	
- - - -	- - -	-	- - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - -	-	-	-	-	-	-	- - - - -	- - - - - -	-	-	- - - -	- - -	
5/29/26	90000	5/29/26	01229107 202605 300-11500-10000	*	80.25	
001229107 HOLMES, JOHN &	
HOLMES, JOHN	&	TINA	80.25	014380	
- - - -	- - -	-	- - - -	- - - - - - - - - - - - - - - - - - - - -	-	- - -	-	-	-	-	-	-	-	-	-	- - - - -	- - - - - -	-	-	- - - -	- - -	
5/29/26	90000	5/29/26	01241607 202605 300-11500-10000	*	100.00	
001241607 PEREZ, KARLA	
PEREZ, KARLA	100.00	014381	
- - - -	- - -	-	- - - -	- - - - - - - - - - - - - - - - - - - - -	-	- - -	-	-	-	-	-	-	-	-	-	- - - - -	- - - - - -	-	-	- - - -	- - -	

APR 26 - LS UPGRADES BID

MAY 26 - REFUSE SERVICE

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	7/05/26	PAGE	3
*** CHECK DATES 05/01/2026 - 05/31/2026 ***	RESERVE CDD - WATER/SEWER FUND
BANK A RESERVE CDD - WS

DATE		DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS			AMOUNT	#	
5/29/26	90000	5/29/26	01256503 202605 300-11500-10000	*	83.53			

- - - - - - - - 5/29/26 90000	001256503 CATUOGNO, MARIA
CATUOGNO, MARIA & JOSEPH
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/29/26 01267602 202605 300-11500-10000	
-	
-	
-	
-	
-	
-	
-	
- -
*	
-	
-	
-	
-	
-	
-	
- - - -	
-	
-	83.53
- - -	014382
- - -	
	DE FALCO, PAUL &	BEVERLY																		34.48	014383	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - -	- - - -	-	-	-	-	-	-	-	- -	-	-	-	-	-	-	- - - -	-	-	- - -	- - -	
5/29/26 90000	5/29/26 01321103 202605 300-11500-10000									*							65.27					
	001321103 CAMPBELL, MR DO																					
	CAMPBELL, MR DOUG																			65.27	014384	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -		-	-	-	-	-	-	-	- -	-	-	-	-	-	-	- - - -	-	-	- - -	- - -	
5/29/26 90000	5/29/26 01346906 202605 300-11500-10000									*							71.79					
	001346906 MAUGERI, FRANK																					

CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...	VENDOR NAME	STATUS	AMOUNT	....CHECK.....

001267602 DE FALCO, PAUL

34.48

MAUGERI, FRANCIS & DONNA	71.79 014385
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/29/26 90000	5/29/26 01406604 202605 300-11500-10000	*	102.49
001406604 BROWNE, MICHAEL
BROWNE, MICHAEL & LYNDA	102.49 014386
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/29/26 90000	5/29/26 01572302 202605 300-11500-10000	*	62.61
001572302 GRIFFITH, JEFF
GRIFFITH, JEFF	62.61 014387
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/29/26 90000	5/29/26 01585401 202605 300-11500-10000	*	36.40
001585401 KIRKHART, LEXIE
KIRKHART, LEXIE	36.40 014388
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/29/26 90000	5/29/26 01586001 202605 300-11500-10000	*	49.00
001586001 WILLIAMS, PAULA
WILLIAMS, PAULA	49.00 014389
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/29/26 00773	5/19/26 12344921 202605 310-53600-48000	*	127.44
NOTICE OF SPECIAL MEETING
5/27/26 12363796 202605 310-53600-48000	*	162.72
AD FOR PROP WITH BIDS
5/27/26 12363837 202605 310-53600-48000	*	162.72
AD FOR PROP WITH BIDS

- -	- - - -	- - - - -	- - - - - - - -	- - - - -	- - -	
FOR	BANK A		168,263.30			

USA TODAY MEDIA CORP.	452.88 014390
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL

RESV -RESERVE-	PPOWERS

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	7/05/26	PAGE	4
*** CHECK DATES 05/01/2026 - 05/31/2026 ***	RESERVE CDD - WATER/SEWER FUND

CHECK	VEND# DATE	.....INVOICE..... ...EXPENSED TO...		VENDOR DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS	NAME		STATUS	AMOUNT	....CHECK..... AMOUNT	#	
5/31/26 00013	5/31/26 MAY 26	202605 320-53600-43000			*	4,366.80		
	MAY 26 - ELECTRIC
5/31/26 MAY 26	202605 320-53600-46100
FPL (AUTO-PAY)			*	141.07	

4,507.87 080023	
- - - - - - - - 5/31/26 00601	- - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/01/26 4066	202604 320-53600-52000
5/01/26 4066	202604 320-53600-52000	- - -	- - - - -	- - - - - - - - -
*
*	- - - - -

56.70	- - - - - - - -	
	STAPLES
5/01/26 4066	202604 320-53600-52000			*	483.17		
	FUEL
PNC BANK					1,262.99 080024	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - -	- - -	- - - - -	- - - - - - - - -	- - - - -	- - - - - - - -	

BANK Z RESERVE CDD - WS

MAY 26 - ELECTRIC

WALMART

723.12

TOTAL FOR BANK Z		5,770.86 TOTAL FOR REGISTER	174,034.16

RESV -RESERVE-	PPOWERS

Reserve
Community Development District Unaudited Financial Reporting
May 31, 2026

Table of Contents

	Balance Sheet

	Water and Sewer Fund

3-4		Month to Month

Reserve
Community Development District Statement of Net Position
May 31, 2026

Water/Sewer Fund

Assets
Current Assets:		
Cash		
Operating Account	$	239,357	
Investments		
State Board of Administration (SBA)	1,975,870	
Accounts Receivable - Utility Billing	269,633	
Accounts Receivable - Other	449	
Prepaid Expenses	28,593	
Deposits	365	

Noncurrent Assets:
Capital Assets:
Land, Buildings and Improvements (net)	4,748,463	
CIP - Lift Stations	72,671	
CIP - Force Main/Interconnect - Professional Services	183,374	
CIP - Force Main/Interconnect - Materials	132,500	
CIP - Force Main/Interconnect - Construction	96,268	
Total Assets	$	7,747,542	

Liabilities
Current liabilities:
Accounts Payable	

132,388	
Customer deposits	291,630	

Noncurrent liabilities:
Prepaid connections fees	

281,728	
Total Liabilites	$	705,745	

Net Position
Net investment in capital assets	

4,715,512	
Restricted	547,171	
Unrestricted	1,779,114	
Total Net Position	$	7,041,797	
		
Total Liabilities & Net Position	$	7,747,542	

Reserve
Community Development District Water/Sewer Fund
Statement of Revenues, Expenses, and Changes in Net Position
For The Period Ending May 31, 2026

Adopted	Prorated Budget	Actual	
Budget	Thru 05/31/26	Thru 05/31/26	Variance	

Operating Revenues		
Charges for Services: Water Revenue	
$  1,300,000	
$	866,667	
$	946,845	
$	80,179	
Sewer Revenue	1,300,000	866,667	888,194	21,527	
Misc. Income/Penalties	6,500	4,333	7,787	3,453	
Interest Income	55,000	36,667	50,137	13,470	
Rental Income	7,200	4,800	4,800	-	
Connection/Meter Fees	-	-	77,097	77,097	
Total Revenues	$ 2,668,700	$  1,779,133	$  1,974,860	$	195,726	
General & Administrative:					
Supervisor Fees	$	6,000	$	4,000	$	3,400	$	600	
PR-FICA	459	306	260	46	
Engineering	20,000	13,333	-	13,333	
Attorney	65,000	43,333	22,477	20,857	
Annual Audit	8,800	1,000	1,000	-	
Management Fees	46,746	31,164	31,164	-	
Information Technology	1,654	1,103	1,103	0	
Website Maintenance	1,103	735	735	(0)	
Postage & Delivery	2,500	1,667	574	1,093	
Insurance General Liability	51,899	34,599	20,424	14,175	
Printing & Binding	1,200	800	586	214	
Rentals & Leases	1,323	882	882	-	
Legal Advertising	2,000	1,333	1,913	(580)	
Other Current Charges	6,000	4,000	5,942	(1,942)	
Office Supplies	500	333	123	211	
Dues, Licenses & Subscriptions	175	175	175	-	
Total General & Administrative	$	215,359	$	138,764	$	90,758	$	48,006	
Plant and Field Operations & Maintenance					
Salaries	$	132,374	$	88,249	$	62,150	$	26,099	
FICA	10,127	6,751	4,755	1,997	
Workers Comp Insurance	3,500	3,500	1,762	1,738	
Plant Mangement	60,000	40,000	-	40,000	
Consulting Services	151,360	100,907	89,801	11,106	
Telephone	13,360	8,907	8,111	796	
Answering Service	1,500	1,000	950	50	
Postage	19,200	12,800	14,083	(1,283)	
Electric	55,000	36,667	32,392	4,275	
Bulk Water/Sewer Purchase	1,050,000	700,000	765,053	(65,053)	
Repairs & Maintenance	60,000	40,000	17,024	22,976	
Lake Management	1,440	960	-	960	
Condo Expenses	6,100	4,067	8,348	(4,281)	
Office Supplies	1,000	667	381	286	
Operating Supplies	40,000	26,667	22,684	3,983	
Chemicals	35,000	23,333	-	23,333	
Meters	-	-	2,139	(2,139)	
Dues & Licenses	-	-	25	(25)	
Subtotal Plant and Field Operations & Maintenance	$ 1,639,961	$  1,094,474	$  1,029,657	$	64,817	

Non-Operating Expenses					
Renewal & Replacement	$	-	$	-	$	1,963	$	(1,963)	
Total Non-Operating Expenses	$	-	$	-	$	1,963	$	(1,963)	
					
Total Expenses	$ 1,855,320	$  1,233,238	$  1,122,379	$	110,859	
					
Change in Net Position	$	813,380	$	545,895	$	852,481	$	306,586	
					
Total Net Position - Beginning	$	-		$  6,189,316		
					
Total Net Position - Ending	$	813,380		$  7,041,797		

Reserve
Community Development District Month to Month

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

Revenues:		
Charges for Services: Water Revenue	
$  1,300,000	
$	99,638	
$  105,218	
$  105,489	
$  131,973	
$  135,230	
$  123,566	
$  124,865	
$  120,865	
$	-	$	-	$	-	$	-	$	946,845	
Sewer Revenue	1,300,000	89,045	93,951	92,397	125,558	128,055	119,923	121,897	117,369	-	-	-	-	888,194	
Misc. Income/Penalties	6,500	1,319	366	2,619	(116)	364	896	2,559	(220)	-	-	-	-	7,787	
Interest Income	55,000	6,583	6,268	6,224	6,146	5,719	6,551	6,272	6,374	-	-	-	-	50,137	
Rental Income	7,200	1,200	600	600	600	600	-	1,200	-	-	-	-	-	4,800	
Connection/Meter Fees	-	275	-	2,100	-	-	-	275	74,447	-	-	-	-	77,097	
Total Revenues	$ 2,668,700	$  198,061	$  206,403	$  209,428	$  264,161	$  269,967	$  250,936	$  257,069	$  318,834	$	-	$	-	$	-	$	-	$  1,974,860	
Expenditures:											
General & Administrative:											
Supervisor Fees	$	6,000	$	600	$	400	$	400	$	400	$	400	$	400	$	400	$	400	$	-	$	-	$	-	$	-	$	3,400	
PR-FICA	459	46	31	31	31	31	31	31	31	-	-	-	-	260	
Engineering	20,000	-	-	-	-	-	-	-	-	-	-	-	-	-	
Attorney	65,000	6,247	3,494	2,491	3,536	1,376	2,237	1,558	1,540	-	-	-	-	22,477	
Annual Audit	8,800	-	-	-	-	-	-	1,000	-	-	-	-	-	1,000	
Management Fees	46,746	3,896	3,896	3,896	3,896	3,896	3,896	3,896	3,896	-	-	-	-	31,164	
Information Technology	1,654	138	138	138	138	138	138	138	138	-	-	-	-	1,103	
Website Maintenance	1,103	92	92	92	92	92	92	92	92	-	-	-	-	735	
Postage & Delivery	2,500	100	85	59	66	76	58	104	25	-	-	-	-	574	
Insurance General Liability	51,899	4,085	4,085	4,085	4,085	4,085	1	-	-	-	-	-	-	20,424	
Printing & Binding	1,200	157	61	26	45	79	130	89	-	-	-	-	-	586	
Rentals & Leases	1,323	110	110	110	110	110	110	110	110	-	-	-	-	882	
Legal Advertising	2,000	125	937	125	-	-	-	-	725	-	-	-	-	1,913	
Other Current Charges	6,000	748	753	696	750	771	737	719	768	-	-	-	-	5,942	
Office Supplies	500	18	18	18	18	18	18	18	-	-	-	-	-	123	
Dues, Licenses & Subscriptions	175	175	-	-	-	-	-	-	-	-	-	-	-	175	
Total General & Administrative	$	215,359	$	16,536	$	14,098	$	12,165	$	13,164	$	11,070	$	7,847	$	8,153	$	7,724	$	-  $	-  $	-  $	-  $	90,758	
Plant and Field Operations & Maintenance
Salaries	
$	132,374	
$	8,700	
$	6,600	
$	7,000	
$	10,550	
$	6,800	
$	6,950	
$	8,850	
$	6,700	
$	-	$	-	$	-	$	-	$	62,150	
FICA	10,127	666	505	536	807	520	532	677	513	-	-	-	-	4,755	
Workers Comp Insurance	3,500	3,214	-	-	-	(1,452)	-	-	-	-	-	-	-	1,762	
Plant Management	60,000	-	-	-	-	-	-	-	-	-	-	-	-	
Consulting Services	151,360	10,045	10,045	10,829	10,645	15,459	10,245	10,705	11,830	-	-	-	-	89,801	
Telephone	13,360	1,146	704	1,526	1,021	849	835	1,220	810	-	-	-	-	8,111	
Answering Service	1,500	99	127	120	127	131	88	128	130	-	-	-	-	950	
Postage	19,200	-	1,613	1,610	3,135	1,697	1,854	2,684	1,488	-	-	-	-	14,083	
Electric	55,000	3,650	3,908	3,822	4,306	4,324	4,002	4,014	4,367	-	-	-	-	32,392	
Bulk Water/Sewer Purchase	1,050,000	90,034	91,506	94,318	101,032	93,250	101,193	97,398	96,323	-	-	-	-	765,053	
Repairs & Maintenance	60,000	250	15,246	628	-	250	401	-	250	-	-	-	-	17,024	
Lake Management	1,440	-	-	-	-	-	-	-	-	-	-	-	-	-	
Condo Expenses	6,100	1,122	1,086	1,037	974	1,025	1,051	1,014	1,038	-	-	-	-	8,348	
Office Supplies	1,000	82	-	-	90	-	60	150	-	-	-	-	-	381	
Operating Supplies	40,000	314	4,677	750	1,233	3,264	1,857	4,370	6,219	-	-	-	-	22,684	
Dues, Licenses	35,000	-	-	-	-	-	-	-	25	-	-	-	-	25	
Meters	-	-	-	-	-	-	-	-	2,139	-	-	-	-	2,139	
Capital Outlay	-	-	-	-	-	-	-	-	-	-	-	-	-	-	
Subtotal Plant and Field Operations & Mainte $	1,639,961	$	119,321	$	136,015	$	122,176	$	133,919	$	126,118	$	129,067	$	131,211	$	131,831	$	-	$	-	$	-	$	-	$	1,029,657	
Non-Operating Expenses
Renewal & Replacement	
$	
-	
$	
-		
$	
-		
$	
-		
$	
-		
$	
-		
$	
-		
$	
1,963	
$	
-		
$	
-		
$	
-		
$	
-		
$	
-		
$	
1,963	
Total Non-Operating Expenses	$	-	$		-	$		-	$		-	$		-	$		-	$		-	$	1,963	$		-	$		-	$		-	$		-	$		-	$	1,963	

Total Expenditures	$	1,855,320	$	135,857	$	150,113	$	134,342	$	147,084	$	137,188	$	136,914	$	141,327	$	139,555	$	-	$	-	$	-	$	-	$	1,122,379	
																													
Net Change in Fund Balance	$	813,380	$	62,204	$	56,291	$	75,087	$	117,077	$	132,779	$	114,023	$	115,742	$	179,279	$	-	$	-	$	-	$	-	$	852,481