WyldPalms Community  Development District
12051  Corporate  Boulevard Orlando, FL  32817; 407-723-5900

The following i the proposed agenda for the upcoming Wyld Palms Community Development District Board of Supervisors' Meeting, scheduled to be held in the Wyld Palms Clubhouse, located at 6442 E. Turner Camp Road, Inverness, FL 34426 on Tuesday, April 2, 2019 at 4:00 p.m. A quorum will be confirmed prior to the start of the meeting.
For those unable to attend in person, you may participate by telephone: Phone: 1-866-398-2885	Participant Code: 275521
AUDITOR SELECTION COMl\flTTEE MEETING AGENDA
Roll Call to Confirm a Quorum
Review and Approval of Audit Documents o	Audit RFP Notice
Instructions to Proposers
Evaluation Criteria - with and without price
Adjournment

BOARD OF SUPERVISORS' MEETING
Organizational Matters
RolJ Call to Confirm a Quorum
Public Comment Period
Swearing in Newly Elected Board Members
Consideration of the Minutes of the November 13, 2018 Landowners' Election
Consideration of tbe Minutes of the August 7, 2018 Board of Supervisors' Meeting
Consideration of the Minutes of the August 7, 2018 Auditor Selection Committee Meeting
Consideration of Resolution 2019-01, Canvassing and Certifying Results of the 2018 Landowners Election
Consideration of Resolution 2019-02, Election of Officers
General Business Matters

Re iew and Acceptance of Fiscal Ye.ar 2017 Audit
Consideration of First Amendment to Operating Agreement of Wyld Palms Holdings, LLC
Ratification of District Management and Assessment Consultant Agreement
Consideration of Resolution 2019-04, Designating District Manager and Assessment Consultant
Consideration of Resolution 2019-05, Approving a Preliminary Budget for Fiscal Year 2020 and Setting a Public Hearing Date
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Consideration of Fiscal Year 2019 SPE Operating Budget (provided under separate cover)
Consideration of Purchase and Sale Agreement (provided under separate cover)
Ratification of Payment Authorization No. 126 - 140
Consideration of Payment Authorization No. 141
Review of District's Financial Position and Budget to Actual YTD
Other Business
Staff Reports
District Counsel
District Manager
District Engineer
Audience Comments
Supervisors Requests

Adjournment

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WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT NOTICE OF AUDIT COMMITTEE MEETING AND REGULAR BOARD OF SUPERVISORS' MEETING
The Board of Supervisors (''Board") of the Wyld Palms Community Development District ("District") will hold an Audit Committee meeting and regular meeting of the Board of Supervisors on April 2, 2019 at 4:00 p.m. at 6442 E. Turner Camp Road, Inverness, Florida 34426. The Audit Committee will review, discuss and establish the minimum qualifications and evaluation criteria that the District will use to solicit audit services. The regular Board meeting will take place prior to the Audit Committee meeting where the Board may consider any other business that may properly come before it. A copy of the agendas may be obtained at the offices of the District Manager, PFM Group Consulting LLC, located at 6442 E. Turner Camp Road, Inverness, Florida 34426. (407) 723-5900 ("District Manager's Office"), during normal business hours.

The meetings are open to the public and will be conducted in accordance with the provisions of Florida law. The meetings may be continued to a date, time, and place to be specified on the record at the meeting. There may be occasions when Board Supervisors or District Staff may participate by speaker telephone.
Any person requiring special accommodations at the meetings because of a disability or physical impairment should contact the District Manager's Office at least forty-eight (48) hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) / 1-800- 955-8770 (Voice), for aid in contacting the District Manager's Office.
Any person who decides to appeal any decision made by the Board or the Committee with respect to any matter considered at the meetings is advised that person will need a record of proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based.

Jennifer Walden District Manager

RUN DATE:  	

WYLD PALMSCOMMUNITY DEVELOPMENT DISTRICT REQUEST FOR PROPOSALS FOR ANNUAL AUDIT SERVICES
The Wyld Palms Community Development District hereby requests proposals for annual financial auditing services. The proposal must provide for the auditing of the District's financial records for the fiscal year ending September 30, 20 19, with an option for two
additional annual renewals. The District is a local unit of special-purpose government created under Chapter 190, Florida Statutes, for the purpose of financing, constructing, and maintaining public infrastructure. The District is located in Orange County and has an operating budget of approximately $69,710.00. The final contract will require that, among other things, the audit for Fiscal Year 20 19 be completed no later than June 1, 2020.

Each auditing entity submitting a proposal must be authorized to do business in Florida; bold all applicable state and federal professional licenses in good standing, including but not limited to a license under Chapter 473, Florida Statutes; and be qualified to conduct audits in accordance with "Government Auditing Standards," as adopted by the Florida Board of Accountancy. Audits shall be conducted in accordance with Florida law and particularly Section 2 18.39, Florida Statutes, and the rules of the Florida Auditor General.

Proposal packages, which include additional qualification requirements, evaluation criteria and instructions to proposers, are available from the District Manager at the address and telephone number listed below.

Proposers must provide three (3) hard copies of their proposal and one (1) electronic copy (CD or flash drive) to Lynne Mullins, Assistant District Manager, located at 1205 1 Corporate Boulevard, Orlando, Florida 328 17, in an envelope marked on the outside "Auditing Services - Wyld Palms Community Development District." Proposals must be received by May 31, 2019, at 3:00 p.m., at the office of the District Manager. Please direct all questions regarding this Request for Proposals to the District Manager, who can be reached at (407) 723-5900.

Any protest regarding the terms of this Notice, or the proposal packages on file with the District Manager, must be filed in writing at the offices of the District Manager within seventy-two (72) calendar hours (excluding weekends) after publication of this Notice. The formal protest setting forth with particularity the facts and law upon which the protest is based shall be filed within seven (7) calendar days after the initial notice of protest was filed. Failure to timely file a notice of protest or failure to timely file a formal written protest shall constitute a waiver of any right to object or protest with respect to aforesaid Notice or propo al package pro visions.

Wyld Palms Community Development District Jennifer Walden, District Manager

RUN DATE:  	

WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT REQUEST FOR PROPOSALS

District Auditing Services for Fiscal Year 2019
Orange County, Florida
INSTRUCTIONS TO PROPOSERS

SECTION 1. DUE DATE. Sealed proposals must be received no later than May 31, 2019, at 3:00 p.m., at the offices of the District Manager, PFM Group Consulting LLC, located at 12051 Corporate Boulevard, Orlando, Florida 32817.
SECTION 2. FAMILIARITY WITH THE LAW. By submitting a proposal, the Proposer is assumed to be familiar with all federal, state, and local laws, ordinances, rules and regulations that in any manner affect the work. Ignorance on the part of the Proposer will in no way relieve it from responsibility to perform the work covered by the proposal in compliance with all such laws, ordinances and regulations.
SECTION 3. QUALIFICATIONS OF PROPOSER. The contract, if awarded, will only be awarded to a responsible Proposer who is qualified by experience and licensing to do the work specified herein. The Proposer shall submit with its proposal satisfactory evidence of experience in similar work and show that it is fully prepared to complete the work to the satisfaction of the District.

SECTION 4. SUBMISSION OF ONLY ONE PROPOSAL. Proposers shall be disqualified and their proposals rejected if the District has reason to believe that collusion may exist among the Proposers, the Proposer has defaulted on any previous contract or is in arrears on any previous or existing contract, or for failure to demonstrate proper licensure and business organization.
SECTION 5. SUBMISSION OF PROPOSAL. Each Proposer shall submit three (3) hard copies and one (1) electronic copy of the Proposal Documents (defined below), and other requested attachments at the time and place indicated herein, which shall be enclosed in an opaque sealed envelope, marked with the title "Auditing Services - Wyld Palms Community Development District " on the face of it.
SECTION6. MODIFICATION AND WITHDRAWAL. Proposals may be modified or withdrawn by an appropriate document duly executed and delivered to the place where proposals are to be submitted at any time prior to the time and date the proposals are due. No proposal may be withdrawn after opening for a period of ninety (90) days.
SECTION 7. PROPOSAL DOCUMENTS. The proposal documents shall consist of the notice announcing the request for proposals, these instructions, the evaluation criteria and a proposal with all required documentation pursuant to Section 12 of these instructions (the "Proposal Documents").
SECTION 8. PROPOSAL. In making its proposal, each Proposer represents that it has read and understands the Proposal Documents and that the proposal is made in accordance therewith.

SECTION 9. BASIS OF AWARD/RIGHT TO REJECT. The District reserves the right to reject any and all proposals, make modifications to the work, and waive any informalities or irregularities in proposals as it is deemed in the best interests of the District.
SECTION 10. CONTRACT AWARD. Within fourteen (14) days of receipt of the Notice of Award from the District, the Proposer shall enter into and execute a contract or engagement letter with the District.
SECTION 11. LIMITATION OF LIABILITY. Nothing herein shall be constmed as or constitute a waiver of District 's limited waiver of liability contained in section 768.28, Florida Statutes, or any other statute or law.
SECTION 12. CONTENTS OF PROPOSALS. All proposals shall include the following information in addition to any other requirements of the Proposal Documents.
List position or title of all personnel to perform work on the District audit. Include resumes for each person listed; list years of experience in present position for each party listed and years of related experience.
Describe proposed staffing levels, including resumes with applicable certifications.
Provide three (3) references from projects of similar size and scope. The Proposer should include information relating to the work it conducted for each reference as well as a name, address and phone number of a contact person. Identify any work previously conducted for other community development districts.
The lump sum cost of the provision of the services under the proposal, plus the cost of two (2) annual renewals.
SECTION 13. PROTESTS. In accordance with the District's Rules of Procedure, any protest regarding the Proposal Documents, must be filed in writing, at the offices of the District Manager, within seventy-two (72) hours after the receipt of the proposed contract documents. The formal protest setting forth with particularity the facts and law upon which the protest is based shall be filed within seven (7) calendar days after the initial notice of protest was filed. Failure to timely file a notice of protest or fai lure to timely file a formal written protest shall constitute a waiver of any right to object or protest with respect to aforesaid contract award.
SECTION  14.	EVALUATION OF PROPOSALS. The criteria to be used in the evaluation of proposals are presented in the evaluation criteria, contained within the Proposal Documents.

AUDITOR SELECTION EVALUATION CRITERIA (WITH PRICE)

Ability ofPersonnel.	(20 Points)

This includes the geographic locations of the firm's headqua1ters or permanent office in relation to the project; capabilities and experience of key personnel; present ability to manage this project; evaluation of existing work load; proposed staffing levels, etc.
Proposer's Experience.	(20 Points)
This includes past record and experience of the Proposer in similar projects; volume of work previously performed by the firm; past performance for other community development districts in other contracts; character, integrity, reputation, of respondent, etc.
Understanding ofScope of Work.	(20 Points)
Extent to which the proposal demonstrates an understanding of the District's needs for the services requested.
Ability to Furnish the Required Services.	(20 Points)
Extent to which the proposal demonstrates the adequacy of Proposer's financial resources and stability as a business entity necessary to complete the services required.
Price.	(20 Points)
Points will be awarded based upon the lowest total bid for rendering the services and the reasonableness of the proposal.

AUDITOR SELECTION EVALUATION CRITERIA (WITHOUT PRICE)

Ability  ofPersonnel.	(25 Points)

This includes the geographic locations of the firm's headquarters or permanent office in relation to the project; capabilities and experience of key personnel; present ability to manage this project; evaluation of existing work load; proposed staffing levels, etc.
Proposer's  Experience.	(25 Points)
This includes past record and experience of the Proposer in similar projects; volume of work previously performed by the firm; past performance for other community development districts in other contracts; character, integrity, reputation, of respondent, etc.
Understanding  ofScope of Work.	(25 Points)
Extent to which the proposal demonstrates an understanding of the District's needs for the services requested.
Ability to  Furnish  the Required Services.	(25 Points)
Extent to which the proposal demonstrates the adequacy of Proposer's financial resources and stability as a business entity necessary to complete the services required.

Wyld Palms Community Development District

Oath of Office

WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT
BOARD OF SUPERVISORS

OATH OF OFFICE

!,	, A CITIZEN OF THE STATE OF FLORIDA AND OF THE
UNITED STATES OF AMERICA, AND BEING EMPLOYED BY OR AN OFFICER OF WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT AND A RECIPIENT OF PUBLIC FUNDS AS SUCH EMPLOYEE OR OFFICER, DO HEREBY SOLEMNLY SWEAR OR AFFIRM THAT I WILL SUPPORT THE CONSTITUTION OF THE UNITED STATES AND OF THE STATE OF FLORIDA.

Board Supervisor

ACKNOWLEDGMENT OF OATH BEING TAKEN

STATE OF FLORIDA COUNTY OF ORANGE

The foregoing oath was administered before me this _ day of

, 20 19, 

by
personally known to me or has produced

,  who  personally  appeared  before  me,  and is
as identification, and is

the person described in and who took the aforementioned oath as a Member of the Board of Supervisors of Wyld Palms Community Development District and acknowledged to and before me that he/she took said oath for the purposes therein expressed.

(NOTARY SEAL)

Notary Public, State of Florida

Print Name: Commission No.: 

Expires :

Wyld Palms Community Development District

Minutes of the November 13, 2018 Landowners' Election

MINUTES OF MEETING
WYLD PALMS
COMMUNITY DEVELOPMENT DISTRICT
La.ndowners' Election Tuesday, November 13, 2018 Wyld Palms Clubhouse,
6442 E. Turner Camp Road, Invemess, Florida 34426
4:00 P.M.

Present:

Vivian Carvalho Tucker Mackie Lynne Mullins

FIRST ORDER OF BUSINESS

The meeting was called to order at 4:01 p.m.

Proxyholder- Fishkind & Associates, Inc. District Counsel	(via phone) Fishkind & Associates, Inc. (via phone)

Call to Order and Roll Call

SECOND ORDER OF BUSINESS

Appointment Chairman

of	Meeting

Ms. Carvalho, an employee of the District Management's office, served as Chairman of the meeting.

Identification	of	Landowners and/or Landowner's
Proxy Holder(s)

Vivian Carvalho is an authorized representative of the Landowner. She will be voting on behalf of Wyld Palms Holding LLC. She is authorized to cast up to 104 votes.

Call for Nominations, Election of Supervisors

Vivian Carvalho nominated Trish Walden for Seat 1, Maurice McDaniel for Seat 4 and Seat 5 is a vacant seat.

The votes were cast as follows.

Seat 1 - Trish WaJden - l 04 votes.
Seat 4 - Maurice McDaniel - 1 04 votes.
Seat 5 - vacant seat - 80 votes.

Trish Walden and Maurice McDaniel will each serve a 4-year term and the vacant seat will have a 2-year te1m.

THIRD ORDER OF BUSINESS	Adjournment

The Landowner' s Election was adjourned.

Secretary / Assistant Secretary	Chairperson / Vice Chairperson

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Wyld Palms Community Development District

Minutes of the August 7, 2018 Board of Supervisors' Meeting

WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS' MEETING MINUTES

FIRST ORDER OF BUSINESS	Call to Order and Roll Call
Board of Supervisors ' meeting for the Wyld Palms Community Development District was called to order on Tuesday, August 7, 20 18 at 4:06 p.m. at the Wyld Palms Clubhouse, 6442 E. Turner Camp Rd., Inverness, FL 34426. Board Members listed below constituted a quorum:
Board Members present:

Chris Julio Patricia Walden John Blakley
Also present were:

Jennifer Walden Tucker Mackie

SECOND ORDER OF BUSINESS

Chairman
Assistant Secretary Board Member

Fishkind & Associates, Inc.
Hopping Green & Sams	(via phone)

Public Comment Period

Ms. J. Walden noted that there were no members of the general public present.

TIIlRD ORDER OF BUSINESS		Consideration of the Minutes of the May 1, 2018 Board of Supervisors' Meeting
Board Members reviewed the minutes for the May l, 20 18 Board of Supervisors' Meeting.

On Motion by Mr. Julin, second by Ms. P. Walden, with al] in favor, the Wyld Palms Community Development District Board of Supervisors approved the May l, 20 18 Board of Supervisors' Meeting Minutes, as presented.

FOURTH ORDER OF BUSINESS

Consideration of Resolution 2018- 05, Approving an Annual Meeting Schedule for Fiscal Year 2018-2019

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Ms. J. Walden explained that the current meeting schedule is the set for the first Tuesday of each month at 4:00 p.m. at this location. She noted that there are a few exceptions to move to the second Tuesday in November, January, July, and September. The Board discussed changing the time back an hour. Mr. Blakey asked Ms. Mackie if time changes can be made to meetings prior to adopting this resolution . Ms. Mackie responded that the District is required to set an annual meeting schedule but can change the times for individual meetings in the future.

On Motion by Mr. Blakley, second by Mr. Julin with all in favor, the Wyld Palms Community Development District Board of Supervisors approved Resolution 20 1 8-05 , approving an Annual Meeting Schedule for Fiscal Year 20 1 8-20 19 as presented.

FIFTH ORDER OF BUSINESS	Public Hearing on the Adoption of the District's Annual Budget
Public Comments and Testimony
Board Comments
Consideration of Resolution 2018-06, Adopting the Fiscal Year 2019 Budget and Appropriating Funds
Ms. J. Walden stated that the budget was sent to the County at least 60 days prior to the public hearing date and the public hearing has been advertised in the newspaper as required by Florida Statute. She requested a motion to open the public hearing.

On Motion by Mr. Julin , second by Ms. P. Walden, with all in favor, the Wyld Palms Community Development District Board of Supervisors opened the Public Hearing.

Ms. J. Walden explained that the budget is an exhibit to the resolution behind Tab 3 and it is the same budget that the Board saw and approved in its preliminary form back in May. The budget total is $69,71 0.00 which is a slight increase over last year. Ms. Walden asked if there were any comments or questions on the budget. Hearing none, she requested a motion to close the public hearing.

On Motion by Ms. P. Walden, second by Mr. Julin, with all in favor, the Wyld Palms Community Development District Board of Supervisors closed the Public Hearing.
Ms. Walden requested a motion to approve Resolution 20 1 8-06 .

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On Motion by Mr. Julin, second by Ms. P. Walden, with al l in favor, the Wyld Palms Community Development District Board of Supervisors approved Resolution 20 1 8-06, Adopting the Fiscal Year 20 19 Budget and Appropriating Funds.

SIXTH ORDER OF BUSINESS		Consideration of Fiscal Year 2019 SPE Budget
Ms. J. Walden explained that that there is a column with the minimum budget of $36,800.00. Mr. Julin asked why the COD Board is acting on the SPE' s operating budget. Ms. Mackie responded that the SPE is a District Managed SPE so the Board is reviewing the proposed operating budget and would approve it by motion . The expenses as indicated for actual through June 30, 20 J 8 and are based on actuals. These expenditures have not been funded by the District but by the Bondholders pursuant to the Tri-Party Agreement and until such time as the property is sold to an eventual third-party purchaser. Mr. Julin asked if the District has taken this up before. Ms. Mackie
stated that the District has not taken this up in years past or annually gone through the process but thinks that it is advisable for the Board to be aware of the expenses of the SPE. Ms. P. Walden asked if it needs to be approved by the Board or j ust acknowledged. Ms. Mackie requested that it be approved by motion.

On Motion by Ms. P. Walden, second by Mr. Julin, with all in favor, the Wyld Palms Community Development District Board of Supervisors approved the Fiscal Year 20 19 SPE Budget.

SEVENTH ORDER OF BUSINESS	Consideration of Purchase and Sale Agreement
Ms. J. Walden stated that District staff is requesting approval in substantial form on the Purchase and Sale Agreement. Ms. Mackie stated that with exception of some of the key terms being price this is very similar to the form of the Purchase and Sale Agreement that the District approved at its previous meeting during the same fiscal year. The previous contract was terminated by the previous buyer after its execution and this one is now being presented to the Board for approval in substantial form. District staff would also be looking for authorization for the Chair to execute at such time as the purchaser has done so as well. There should be no additional comments on behalf of the purchaser and it was just a matter of timing with respect to execution .

On Motion by Mr. Blakley, second by Mr. Julin, with all in favor, the Wyld Palms Community Development District Board of Supervisors approved the Purchase and Sale Agreement in substantial form authorizing the Chairman to execute it in final form.

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Mr. Blakley mentioned that he did not know that they had a 1 20 day inspection period and asked if they had extensions after that. Ms. P. Walden replied that is correct and with hard money if they ask for extensions.

EIGHTH ORDER OF BUSINESS		Review of Auditor Selection Committee Rankings & Selection of Auditor
Ms. J. Walden stated that the recommended rankings from the Auditor Selection Committee were for Grau to be ranked as No.  1 and CRI to be ranked No. 2. She noted that the Board is free to accept and approve those rankings or not.

On Motion by Ms. P. Walden, second by Mr. Blakley, with all in favor, the Wyld Palms Community Development District Board of Supervisors accepted the Rankings of the Auditor Selection Committee to rank Grau No. 1 and CRI No. 2.

NINTH ORDER OF BUSINESS	Ratification of Payment Authorization No. 122 - 125

The Board reviewed Payment Authorization No. 1 22 - 125. Ms. J. Walden noted that these have been previously approved and paid and just need to be ratified.

On Motion by Mr. Julin second by Mr. Blakley, with all in favor, the Wyld Palms Community Development District Board of Supervisors ratified Payment Authorization No. 122 - 125. 

TENTH ORDER OF BUSINESS

The Board reviewed Payment Authorization No. 1 26.

Consideration	of Authorization No. 126

Payment

On Motion by Mr. Jul in second by Ms. P. Walden, with all in favor, the Wyld Palms Community Development District Board of Supervisors approved Payment Authorization No. 126.

ELEVENTH ORDER OF BUSINESS	Review	of	District's	Financial Position and Budget to Actual YTD

The Board Members reviewed the District's financials and budget to actual through June. Ms. J. Walden explained that the budget to actual through June is showing that that the District spent a

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little under $48,000.00 vs a budget of $50,000.00. The District is under budget by a little over
$2,000.00. No action was required by the Board.

TWELFTH ORDER OF BUSINESS

District Counsel - No Report

Staff	Reports,	Supervisor Requests, and Audience Comments

District Manager - Ms. J. Walden stated that the next scheduled meeting is September 4, 2018 and if there is nothing going on than the meeting will be cancelled. Mr. Blakely asked Ms. Walden to check with Maurice to verify his timeline and send the Board an email if it will work out or not. Ms. J. Walden said that she would.

Mr. Blakley asked which seats are up forthe Landowners' Election. Ms. J. Walden looked through the previous minutes. Ms. Mackie stated that Seat 1, Seat 4, and Seat 5 are up for election. Seat 5 is the vacant seat. Mr. Blakley asked who currently held Seat 1 and Seat 4. Ms. P. Walden stated that she holds Seat 1 and Seat 2 is held by Mr. McDaniel. Mr. Blakley asked if Turner Road Land Trust, LLC will take over the board when the contract closes. Ms. P. Walden stated that when the contract closes this Board will vacate and Turner Road Land Trust, LLC will do with it as they please. She stated that she will take all the resignations and hers and deliver them at closing. Ms. Mackie stated that the District must do so with more of a process. The resignations will be delivered and then the District will have another Board meeting where the District will roll Supervisors offand at that point those individuals who the Landowner would like to see appointed to the Board would be appointed. This will take place one at a time to make sure that the District always has a quorum and that the District is not vacating all seats at the same time. If everyone were to resign immediately the only person who could then appoint Board Members would be the Governor.

District Engineer - Not Present
Supervisor Requests:

There were no Supervisor requests.

TIDRTEENTH ORDER OF BUSINESS	Adjournment
Ms. J. Walden asked if there were any other discussions. Hearing none, Ms. J. Walden suggested a motion to adjourn.

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On MOTION by Ms. P. Walden, second by Mr. Blakley, with all in favor, August 7, 20 18 Board of Supervisors' Meeting for the Wyld Palms Community Development District was adjourned.

Secretary / Assistant Secretary	Chairperson / Vice Chairperson

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Wyld Palms Community Development District

Minutes of the August 7, 2018 Auditor Selection Committee Meeting

WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT AUDITOR SELECTION COMMITTEE MEETING MINUTES

FIRST ORDER OF BUSINESS	Call to Order and Roll Call
Auditor Selection Committee meeting for the Wyld Palms Community Development District was called to order on Tuesday, August 7, 20 18 at 4:00 p.m. at the Wyld Palms Clubhouse, 6442 E. Turner Camp Rd., Inverness, FL 34426. Board Members listed below constituted a quorum:

Committee Members present:

Chris Julin Patricia Walden John Blakley

Also present were:

Jennifer Walden Tucker Mackie

SECOND ORDER OF BUSINESS

Committee Member Committee Member Committee Member

Fishkind & Associates, Inc.
Hopping Green & Sams (via phone)

Public Comment Period

Ms. J. Walden noted that there were no members of the general public present.

THIRD ORDER OF BUSINESS	Ratification	of	District	Staff's Actions in RFP Advertising
The Committee reviewed the District staff's actions. Ms. J. Walden requested a motion to ratify the District staff' s actions in RFP advertising.

On Motion by Mr. Blakley, second by Mr. Julin, with all in favor, the Wyld Palms Community Development District Auditor Selection Committee ratified the District Staff' s Actions in RFP Advertising.

FOURTH ORDER OF BUSINESS

Review	of	Auditing	Services Proposals
Grau & Associates
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CRI

Ms. J. Walden explained that the District received proposals from two different companies. The District management firm has worked with both of these companies on other Districts. The current Auditor for Wyld Palms is McDermitt and they did not submit a new proposal.

FIFTH ORDER OF BUSINESS	Ranking	of	Auditing	Services Proposals
Ms. J. Walden noted that Tab 3 has the District staff' s recommended rankings. She explained that the Committee is free to take the District staff' s recommendation or make their own rankings. She noted that for understanding scope of work District staff ranked Grau l O points because they only provided two years of service for 20 17 and 20 18 and in the advertisement, it had asked for years 20 17 , 20 18 , and 20 19. Ms. J. Walden noted that Grau was the cheaper pricing. Ms. Walden stated that she thought that this could have been an oversight.

Mr. Julin asked if the Committee needed to complete something or do this by acclimation. Ms. J. Walden stated that the Committee is free to give points individually and then combine it or take the overall rankings and rank one as No. 1 and the other as No. 2. Ms. Mackie stated that the District will need to reflect a point allocation in accordance with the point system, District staff provided to  the proposers at  the time that they submitted the  bids.  The Committee will  have to adopt a point allocation for each of them based on that point award system and award the contract to one or the other.

Ms. P. Walden asked if Grau understood the scope of work. Mr. Blakley responded that Grau works with many Districts and he is on many Districts that Grau works on, he does not see the point in spending $1 ,300.00 more for somebody because of the nature of the way it was presented. Mr. Blakley suggested awarding Grau 20 points for scope of work and move their point allocation to 1 00 points. He recommended awarding Grau 1 00 points and CRI 93 points and ranking Grau as No. l and CRI as No. 2.

On Motion by Mr. Blakley, second by Ms. P. Walden, with all in favor, the Wyld Palms Community Development District Auditor Selection Committee approved awarding Grau 1 00 points and CRI 93 .9 points and ranking Grau as No. 1 and CRI as No. 2. 

SIXTH ORDER OF BUSINESS	Adjournment
Ms. J. Walden asked if there were any other discussions.  Hearing none, Ms. J. Walden suggested a motion to close the Auditor Selection Committee meeting.

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On MOTION by Ms. P. Walden, second by Mr. Blakley, with all in favor, August 7, 20 18 Auditor Selection Committee Meeting for the Wyld Palms Community Development District was adjourned.

Secretary / Assistant Secretary	Chairperson / Vice Chairperson

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Wyld Palms Community Development District

Resolution 2019-01, Canvassing and Certifying Results of the
2018 Landowners Election

RESOLUTION 2019-04
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT CANVASSING AND CERTIFYING THE RESULTS OF THE LANDOWNERS ELECTION OF SUPERVISORS HELD PURSUANT TO SECTION 190.006(2), FLORIDA STATUTES, AND PROVIDING FOR AN EFFECTIVE DATE
WHEREAS, the Wyld Palms Community Development District (hereinafter the "District") is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within the City of Orlando, Orange County, Florida; and
WHEREAS, pursuant to Section 190.006(2), Florida Statutes, a landowners meeting is required to be held within ninety (90) days of the District's creation and every two (2)years following the creation of the District for the purpose of electing supervisors of the District; and
WHEREAS, such landowners meeting was held on November 13, 2018, the Minutes of which are attached hereto as Exhibit A, and at which the below recited persons were duly elected by virtue of the votes cast in his/her favor; and

WHEREAS, the Board of Supervisors ofthe District, by means of this Resolution, desire to canvas the votes and declare and certify the results of said election.

NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT:
Section l. The following persons are found, certified, and declared to have been duly elected as Supervisor of and for the District, having been elected by the votes cast in their favor as shown:

Trish Walden Maurice McDaniel Vacant

Seat l Seat 4
Seat 5

Votes 104
Votes 104
Votes 80

Section 2. In accordance with Section 190.006(2), Florida Statutes, and by virtue of the number of votes cast for the Supervisor, the above-named person is declared to have been elected for the following term of office:

Tish Walden Maurice McDaniel Vacant

(4) Year Term
(4) Year Term
Year Term

Section 3. This Resolution shall become effective immediately upon its adoption.

l

Attest:

PASSED AND ADOPTED THIS 2nd DAY OF APRIL 2019.
WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assi stant Secretary	ChairmanNice Chairman

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EXHIBIT A

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MINUTES OF MEETING
WYLD PALMS
COMMUNITY DEVELOPMENT DISTRICT
La.ndowners ' Election Tuesday, November 13, 2018 Wyld Palms Clubhouse,
6442 E. Turner Camp Road, Inverness, Florida 34426 4:00 P.M.

Present:

Vivian Carvalho Tucker Mackie Lynne Mullins

FIRST ORDER OF BUSINESS

The meeting was called to order at 4:01 p.m.

Proxyholder- Fishkind & Associates, Inc. District Counsel	(via phone) Fishkind & Associates, Inc. (via phone)

Call to Order and Roll Call

SECOND ORDER OF BUSINESS

Appointment Chairman

of	Meeting

Ms. Carvalho, an employee of the District Management's office, served as Chairman of the meeting.

Identification	of	Landowners and/or Landowner's
Proxy Holder(s)

Vivian Carvalho is an authorized representative of the Landowner. She will be voting on behalf of Wyld Palms Holding LLC. She is authorized to cast up to 1 04 votes.

Call for Nominations, Election of Supervisors

Vivian Carvalho nominated Trish Walden for Seat 1, Maurice McDaniel for Seat 4 and Seat 5 is a vacant seat.

The votes were cast as follows.

Seat I - Trish Walden - 104 votes.
Seat 4 - Maurice McDaniel - 104 votes.
Seat 5 - vacant seat - 80 votes.

Trish Walden and Maurice McDaniel will each serve a 4- year term and the vacant seat will have a 2-year term.

TIDRD ORDER OF BUSINESS	Adjournment

The Landowner's Election was adjourned.

Secretary / Assistant Secretary	Chairperson / Vice Chairperson

2

Wyld Palms Community Development District

Resolution 2019-02, Election of Officers

RESOLUTION 2019-02
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT ELECTING OFFICERS OF THE DISTRICT, AND PROVIDING FOR AN EFFECTIVE DATE
WHEREAS, the Wyld Palms Community Development District ("District") is a local unit of special purpose government created and existing pursuant to Chapter 1 90, Florida Statutes; and

WHEREAS, pursuant to Section 1 90. 006(6), Florida Statutes, as soon as practicable after each election or appointment to the Board of Supervisors (the "Board"), the Board shall organize by electing one of its members as chair and by electing a secretary, and such other officers as the Board may deem necessary.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT:

Section 1. 

Section 2.	_

is elected Chairman .

is elected Vice Chairman.

Section 3. 

Section 4. Section 5. Section 6.

Section 7. 

is elected Secretary.

___ 	_ 	is elected Assistant Secretary.
 	is elected Assistant Secretary.
is elected Assistant Secretary. is elected Assistant Secretary.
---------- is elected Treasurer.
_ 	_ is elected as Assistant Treasurer.
All Resolutions or parts of Resolutions in conflict herewith are hereby repealed to the extent of such conflict.

This Resolution sha! J become effective immediately upon its adoption.

PASSED AND ADOPTED THIS 2nd DAY OF APRIL, 2019.

ATTEST:

Secretary/Assistant Secretary

WYLD PALMS
COMMUNITY DEVELOPMENT DISTRICT

Chairman/Vice-Chairman

Wyld Palms Community Development District

Acceptance of Fiscal Year 2017 Audit

WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT
CITRUS COUNTY, FLORIDA FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017

WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT CITRUS COUNTY, FLORIDA

TABLE OF CONTENTS

INDEPENDENT AUDITOR'S REPORT MANAGEMENT'S DISCUSSION AND ANALYSIS
BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements: Statement of Net Position
Statement of Activities Fund Financial Statements:
Balance Sheet - Governmental Funds
Reconciliation of the Balance Sheet - Governmental Funds to the Statement of Net Position
Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities
Notes to the Financial Statements

REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund
Notes to Required Supplementary Information

Page 1 -2
3-6

7
8

9

10 

11 

12 
13-21

22
23

INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GO VERNMENT AUDITING STANDARDS	24-25
INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 21 8.415, FLORIDA STATUTES, REQUIRED BY RULE 1 0.556(10)
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	26
MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL
OF THE STATE OF FLORIDA	27-29

Grau & Associates
I:: I{ 1 1 l l ' D  J' LI BI I (.'	C(  n UN I ,	I 'S

95 1 Yamato Road • Suite 280 Boca Raton, Florida 33431
(561 ) 994-9299 • (800) 299-4728
Fax (561) 994-5823 
www.graucpa.com 

INDEPENDENT AUDITOR'S REPORT
To the Board of Supervisors
Wyld Palms Community Development District Citrus County, Florida
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities and each major fund of Wyld Palms Com munity Developm ent District, Citrus County, Florida (''District") as of and for the fiscal year ended Septem ber 30, 201 7, and the related notes to the financial statem ents , which collectively com prise the District's basic financial statements as listed in the table of contents.
Management's Responsibility for the Financial Statements
Managem ent is responsible for the preparation and fair presentation of these financial statem ents in accordance with accounting principles generally accepted in the United States of America; this incl udes the design, im plem entation , and maintenance of internal control relevant to the preparation and fair presentation of financial statem ents that are free from m aterial misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Com ptroller General of the United States. Those standards requ ire that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from m aterial misstatement.
An audit involves perform ing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of m aterial misstatem ent of the financial statements, whether due to fraud or error. In making those risk  assessments,  the  auditor  conside rs  internal  control  relevant  to  the  entity's  preparation  and  fair presentation of the financial statements in order to design audit procedu res that are appropriate in the circumstances, but not for the pu rpose of expressing an opinion on the effectiveness of the entity's internal control . Accordingly, we express no such opinion . An audit also includes eval uating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements .
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. 
Basis for Qualified Opinion on the Debt Service Fund
The District was unable to provide sufficient com petent evidential matter for the expenditures paid for by the Trustee from the debt service fund. The financial information of the debt service fund is part of the governm ental activities and is considered a m ajor fu nd. 

Qualified Opinion
In our opinion , except for the possible effects of the matters discussed in the "Basis for Qualified Opinion on the Debt Service Fund" paragraph , the financial statements referred to above present fairly, in all material respects, the financial position of the debt service fund of the District, as of September 30, 201 7, and the changes in financial position thereof for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.

Unmodified Opinions

In our opinion, thefinancial statements referred to above present fairly, in all material respects, the respective financial position of the general fund, capital projects fund, special revenue fund, and the governmental activities of the District as of September 30, 2017, and the respective changes in financial position thereof for the fiscal yearthen ended in accordance with accounting principles generallyaccepted in the United States of America.

Emphasis of Matters

As discussed in Note 6 and other notes to the basic financial statements, the District's financial conditions continue to deteriorate. Due to the Developer's non-payment of assessments, the District did not have sufficient funds to make certain scheduled debt servicepayments in prior, current, or subsequent fiscal years and, as a result, the payments were not made. The District's inability to make its scheduled debt service payments when they are due are considered events of default. Additionally, certain default related expenditures were paid from the trust accounts. As a result of these events, the debt service fund had a deficit fund balance of ($1 7,1 34,401) at September 30, 2017. Furthermore, the District and the Trustee, on behalf of the Bondholders, formed a Special Purpose Entity ("SPE") which took title to the Developer's property through foreclosure. The SPE is funding a portion of the general operations of the District through funds from the Trust estate. Our opinion is not modified with respect to this matter.

Other Matters

Required Supplementary Information

Accounting principles generally accepted in the United States of America require that the management's discussion and analysis and budgetary comparison information be presented to supplementthebasicfinancial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Other Reporting Required by Government Auditing Standards

In accordance with GovernmentAuditing Standards, we have also issued our report dated October 3, 2018, on our consideration ofthe District's internal control overfinancial 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 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 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.

Report on Other Legal and Regulatory Requirements

We have also issued our report dated October 3, 2018, on our consideration of the District's compliance with the requirements of Section 21 8.415, Florida Statutes, as required by Rule 10.556(1 0) of the Auditor General of the State of Florida. The purpose of that report is to provide an opinion based on our examination conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.

October 3, 2018

2

MANAGEMENT'S DISCUSSION AND ANALYSIS
Our discussion and analysis of Wyld Palms Community Development District, Citrus County, Florida ("District'') provides a narrative overview of the District's financial activities for the fiscal year ended September 30, 2017. Please read it in conjunction with the District's Independent Auditor's Report, basic financial statements, accompanying notes and supplementary information to the basic financial statements.
FINANCIAL HIGHLIGHTS
The liabilities of the District exceeded its assets atthe close of the most recent fiscal year resulting in a net position deficit balance of ($1 1 ,533,954).
The change in the District's total net position in comparison with  the prior fiscal year was ($1 ,707,991), an increase in the deficit. The key components of the District's net position and change in net position are reflected in the table in the government-wide financial analysis section.
At September 30, 201 7, the District's governmental funds reported combined ending fund balances of ($1 4,363,786), a decrease of ($1 ,612,571 ) in comparison with the prior fiscal year. The total fund balance is non-spendable for prepaid items, restricted for capital projects and the special purpose entity, and the remainder is unassigned deficit fund balance.
OVERVIEW OF FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as the introduction to the District's basic financial statements. The District's basic financial statements are comprised of threecomponents: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.
Government-Wide Financial Statements
The government-wide financial statements are designed to provide readers with a broad overview of the District's finances, in a manner similar to a private-sector business.
The statement of net position presents information on all the District's assets, 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 ofthe District is improving or deteriorating.
The statement of activities presents information showing how the government's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods.
The government-wide financial statements include all governmental activities that areprincipallysupported by Bondholder contributions. The District does not have any business-type activities. The governmental activities of the District include the general government (management) and maintenance and operations costs.
Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The District has one fund category: the governmental funds.

3

OVERVIEW OF FINANCIAL STATEMENTS (Continued)
Governmental Funds
Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide fi nancial statements.  However,  unlike the government-wide  financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such inform ation may be useful in evaluating a District's near-term financing requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental  activities in the government-wide financial statements. By doing so,  readers may better understand the long-term impact of the District's near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.
The District maintains four governmental funds for external reporting . Information is presented separately in the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances for the general fund, debt service fund, capital projects fund, and special revenue fund, all of which are considered m ajor funds.
The District adopts an annual appropriated budget for its general fund. A budgetary comparison schedule has been provided for the general fund to demonstrate compliance with the budget.
Notes to the Financial Statements
The notes provide additional i nformation that is essential to a full understanding of the data provided in the government-wide and fund financial statements.
GOVERNMENT-W IDE FINANCIAL ANALYSIS 
As noted earlier, net position may serve over time as a useful indicator of an entity's financial position. In the case of the District, liabilities exceeded assets at the close of the most recent fiscal year.
Key components of the District's net position are reflected in the following table:

NET POSITION
SEPTEMBER 30 ,		
2017 	2016 	
Current  and other ass ets	$	2,853, 332	$	3, 508,512 	
Capital  assets ,  net of depreciation	8,085,475	8, 297, 817 	
Total assets	10, 938, 807	11 , 806,329	
Current liabi lfties	1 7,567, 266	16, 609, 875	
Long-term liabil ities	4, 905 , 495	5 , 022,417 	
Total liabilities	22 ,472,761	21 , 632, 292	
Total liabilities 0	22 , 472, 761 	21 , 632,292	
Net position			
Net i m,estment in capital asset s	(7,31 0, 020)	(6, 626,446)	
Restricted	2,505, 063	2,969, 403	
Unrestricted	(6 , 728, 997)	(6,1 68,920)
Total net position	$  !1 1, 533, 9541   $	!9 ,825,9631

4

GOVERNMENT-WIDE FI NANCIAL ANALYSIS (Continued)
The  District's  net  position  reflects  its  investm ent  in  capital  assets  (e.g.  land ,  land  im provements,  and infrastructure) less any related debt used to acqui re those assets that is sti ll outstanding. These assets are used to provide services to residents:  consequently, these assets are  not available for future spending. Although the District's investm ent in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities .
The restricted portion of the District's net position represents resources that are subject to external restrictions on how they m ay be used.
The District's net position decreased during the most recent fiscal year. The m ajority of the decrease was due to the non payment of assessments by the previous Developer.
Key elements of the change in net position are reflected in the following table:
CHANGES IN NET POS ITION
FOR THE FISCAL YEAR ENDED SEPTEMBER 30.
2017	201 6
Revenues:
P rogra m rewnues
Operating  grants and contributions	$	43, 656     $ 	74
Capital  grants and contributions	1 ,349	206 , 687
General rewnues
Miscellaneous revenues	158
Nel decrease in property held for sale	!466 ,783)
Total  rewnues	!421 , 778)	206 , 91 9 Expenses:
General government	1 95, 356	216 ,982
Mai ntenance and operations	247,424	271 , 400
Interest on long-term debt	843 .433	843, 433

Total expenses
Change in net position

1 , 286,213	1, 331 ,81 5

(

1 ,707, 991 )	( 1 , 1 24, 896)

p

Net position - beginning	(9,825 ,963)	(8,701 ,067)
Net position - ending	$	1 ,533,954)  $	(9 ,825,963)
As noted above and in the statement of activities, the cost of all govern mental activities during the fiscal year ended September 30, 201 7 was $1 ,286,21 3. The costs of the District's activities were partially funded by program revenues. As in the prior fiscal year, program revenues are com prised primarily of Bondholder contributions. A portion of the District's operations were also funded by using funds available in the trust accounts. The decrease in total revenues reflects a mark to market adjustment of the property held for sale by the SPE.  In total, expenses decreased from the prior fiscal year due to a decrease in general government and maintenance and operations costs due to a decrease in professional fees.
GENERAL BUDGETING HIGHLIGHTS
An operating budget was adopted and m ai ntained by the governing board for the District pursuant to the requirements of Florida Statutes. The budget is adopted usi ng the sam e basis of accounting that is used in preparation of the fund financial statem ents . The legal level of budgetary control, the level at which expenditures m ay not exceed budget, is in the agg regate. Any budget amendm ents that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fu nd expenditures did not exceed appropriations for the fiscal year ended September 30, 201 7.

5

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets

At September 30, 2017, the District had $10,350,690 invested in capital assets for its governmental activities. In the government-wide financial statements depreciation of $2,265,215 has been taken, which resulted in a net book value of $8,085,475. More detailed information about the District's capital assets is presented in the notes to the financial statements.
Capital Debt

At September 30, 2017, the District had $4,965,000 Bonds outstanding for its governmental activities. In addition, matured debt service obligations of $17,21 2,843 are included in Due to Bondholders amount at September 30, 201 7. More detailed information about the District's capital debt is presented in the notes to the financial statements.
ECONOMIC FACTORS AND NEXT YEAR'S BUDGET AND OTHER EVENTS

As discussed in the notes to the basic financial statements, the District's financial conditions continue to deteriorate. The District formed an SPE and foreclosed on the property for which there was a significant delinquent assessment in prior fiscal years. In addition, in the prior, current, and subsequent fiscal years, certain scheduled debt service paymentswere not made. As a result, the District declared an eventofdefault in accordance with the Series 2007 Bond Indenture which allowed the District to pay certain significanttrustee, legal, and other professional fees incurred in association with the default using funds available in the trust accounts. Further, the debt service fund reported a deficit fund balance of ($1 7,1 34,401) at September 30, 2017.
CONTACTING  THE DISTRICT'S  FINANCIAL MANAGEMENT

This financial report is designed to provide our citizens, land owners, customers, investors and creditors with a general overview of the District's finances and to demonstrate the District's accountability for the financial resources it manages and the stewardship of the facilities it maintains. If you have questions about this report or need additional financial information, contact the Wyld Palms Community Development District's Finance Department at 12051 Corporate Blvd., Orlando, Florida 32817.

6

FINANCIAL STATEMENTS

WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT CITRUS COUNTY, FLORIDA
STATEMENT OF NET POSITION SEPTEMBER 30, 201 7

ASSETS		
Cash	$	29,409	
Prepaid items	4,971	
Property held for sale	2, 504,467	
Restricted assets:		
I nvestments	31 4, 31 6	
Accrued interest receivable	1 69	
Capital assets:		
Nondepreciable	5,51 4, 660	
Depreciable, net	2, 570,81 5	
Total assets	10, 938,807	
LIABI LITIES 		
Accounts payable	4,275	
Accrued i nterest payable	350, 1 48	
Due to Bondholders:		
Principal	1 0,490,000	
I nterest	6, 722, 843	

Governmental Activities

Non-current liabilities:
Due withi n one year
Due in more than one year Total li abi lities

NET POSITION
Net i nvestment in capital assets Restricted for special purpose Unrestricted
Total  net position

See notes to the financial statements

1 30, 000
4,775 , 495
22,472,761

(7,31 0, 020)
2,505,063

p

{6, 728, 997}
$	1 ,533, 954l

7

WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT CITRUS COUNTY, FLORIDA
STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 201 7

Functions/Programs Primary government
Governmental activities:

Expenses

Program Revenues Operating		Capital Grants and	Grants and
Contributions  Contributions

Net (E�ense) Revenue and Changes in Net Position

Governmental Activities

General government	$ Maintenance  and    operations I nterest on long-term debt

1 95, 356	$
247,424
843,433

43,261	$

395

$	(1 52, 095)
1, 349	(246, 075)
(843,038)

Total governmental activities

1,286, 21 3	43,656

General re-venues:
Net decrease in property held for sale Total general re-venues
Change in net position Net position - beginning Net position - ending

1, 349	(1 , 241, 208)

(466,783)
(466, 783)
(1,707, 991 )
(9, 825,963)
$ (1 1, 533, 954)

See notes to the financial statements

8

WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT CITRUS COUNTY, FLORIDA
BALANCE SHEET - GOVERNMENTAL FUNDS SEPTEMBER 30, 201 7

tvlajor Funds	Total	
	Debt	Capital	Special	Governmental	
General	Service	Projects	Revenue	Funds	
ASSETS
Cash	$	26,755	
$	
$	
$	2,654	
$	29,409	
Investments		76, 004	238,31 2		31 4,31 6	
Accrued interest receivable		41	1 28		1 69	
Due from other funds					694	
P repaid items	2, 574	2, 397			4,971	
P roperty held for sale				2, 504,467	2,504,467	
Total assets	$	30, 023	$	78,442	$	238,440	$ 2,507, 121 	$	2, 854,026	
LIABILITIES AND FUND BALANCES 

Accounts payable	$	2,91 1	$	$	1 , 364	$	4,275	
Due to other funds		694	694	
Due to Bondholders				
Principal		10,490, 000	1 0, 490,000	
Interest		6 722,843	6,722,843	
Total Jiabi lities	2,91 1	17,212, 843	2, 058	17 ,21 7 , 81 2	

Liabilities :

Fund balances:
Nonspendable:

Capital p rojects			238,440		238,440	
Special purpose entity				2,505,063	2,505,063	
Unassigned	24, 538	(1 7, 1 36,798)			(1 7,1 1 2,260)	
Total fund balances	27,1 12 			2, 505,063	(1 4,363,786)	
Total liabilities  and fund balances	$	30,023	$	78, 442	$	238 ,440	$ 2,507, 121	$	2,854,026	

Prepaid items	2, 574	2,397	4,971 Restricted for:

238,440

See notes to the financial statements

9

WYLD PALMS COM MUNITY DEVELOPM ENT DISTRICT CITRUS COUNTY, FLORIDA
RECONCILIATION OF TH E BALANCE SH EET - GOVE RNM ENTAL FUNDS TO THE STATEM ENT OF NET POSITION
SE PTEM BER 30, 2017 

Fund balance - governmental funds
Amounts reported for governmental activities in the statement of net position are different because:
Capital assets used in governmental activities are not financial resources and, therefore, are not reported as assets in the governmental funds. The statement of net position includes those capital  assets,   net  of  any  accumulated  depreciation,   in  the  net position of the government as a whole.
Cost of capital assets Accumulated depreci ation
Liabilities not due and payable from current available resources are not reported as liabilities in the governmental fund statements. All liabi lities, both current and long-term, are reported in the government-\Nide financial statements.

1 0, 350, 690
(2, 265,215)

$ (1 4, 363,786)

8, 085,475

Accrued interest payable	(350, 1 48)		
Bonds payable	(4,905,495)	(5,255,643)	
Net position of governmental activities		$  (11 , 533,954)	

See notes to the financial statements

10 

WVLD PALMS COMMUNITY DEVELOPMENT DISTRICT CITRUS COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - GOVERNM ENTAL FUNDS 
FOR THE FISCAL VEAR ENDED SEPTEMBER 30, 201 7

	Debt	Capital	Special	Governmental	
General	Service	P rojects	Revenue	Funds	

Major Funds	Total

REVENUES
Bondholder contributions	$	33,299	$	$	$	9,21 4	$	42,51 3
Interest income	395	1 , 349	1 ,744
Miscellaneous  Revenue	748	748

Total revenues	34,047
EXPENDITU RES 

General government	33 ,7 1 9	39,274	1 15 ,582	6,78 1	1 95,356	
Maintenance and operations	30 ,072			5,01 0	35, 082	
Debt servic e: 						
Principal		120,000			1 20,000	
Interest		840 ,355			840,355	
Total expenditures	63,791	999,629	11 5,582	11 ,791	1, 1 90,793	
E xcess (defic iency) of revenues						
over (under) expenditures	(29, 744)	(999, 234)	(1 1 4,233)	(2, 577)	(1,1 45, 788)	
OTHE R FINANC ING SOURCES (US ES) 						
Net dec rease in property held for sale
Transfer in (out)	
(5,020)			(466 ,783)	(466 ,783)	
Total other financing sources (uses) 	(5, 020)			(461 , 763)	(466, 783)	
Net change in fund balances	(34 ,764)	(999,234)	(1 1 4, 233)	(464,340)	(1 ,61 2,571 )	
Fund balances - beginning	61 ,876	(1 6, 1 35, 1 67)	352,673	2, 969,403	{12,751 ,21 5)	
Fund balances - ending	$	27,1 12 	$  i1 1,1 34,401 i	$	238,440	$ 2,505,063	$ p4,363, 786l	

Current:

1 , 349	9,21 4	45 ,005

5, 020

See notes to the financial statements

11 

WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT CITRUS COUNTY, FLORIDA
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017

Net change in fund balances - total governmental funds
Amounts reported for governmental activities in the statement of activities are different because:
Repayment of long-term liabilities are reported as expenditures in the governmental fund financial statements, but such repayments reduce liabilities in the statement of net position and are eliminated in the statement

$ (1 ,612,571)

of activities.	1 20,000
Depreciation of capital assets is not recognized in the governmental fund financial statements, but is reported as an expense in the statement of
activities.	(21 2, 342)
Amortization of bond discount is not recognized in the governmental fund financial statements, but is reported as an expense in the statement of
activities.	{3,078)
Change in net position of governmental activities	$ (1 ,707,991)

See notes to the financial statements

12 

WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT CITRUS COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS

NOTE 1 - NATURE OF ORGANIZATION AND REPORTING ENTITY
Wyld Palms Community Development District (the "District") was established by the City of Inverness Ordinance 2006-644 enacted on November 8, 2006 pursuanttothe Uniform Community Development District Act of 1 980, otherwise known as Chapter 1 90, Florida Statutes. The Act provides among other things, the powerto manage basic services forcommunity development, power to borrow moneyand issue bonds, and to levy and assess non-ad valorem assessments for the financing and delivery of capital infrastructure.
The District was established for the purposes of financing and managing the acquisition, construction, maintenance and operation of a portion ofthe infrastructure necessaryfor community development within the District.
The District is governed by the Board of Supervisors ("Board"), which is composed of five members. The Supervisors are elected on an at large basis by landowners of the District. The Board of Supervisors of the District exercise all powers granted to the District pursuant to Chapter 1 90, Florida Statutes. In a prior fiscal year, Wyld Palms Holdings, LLC, a Special Purpose Entity ("SPE"), acquired the property owned byWyld Land Development, LLC ("Developer") through foreclosure.
The Board has the responsibility for:
Allocating and levying assessments.
Approving budgets.
Exercising control over facilities and properties.
Controlling the use of funds generated by the District.
Approving the hiring and firing of key personnel.
Financing improvements.
The financial statements were prepared in accordance with Governmental Accounting Standards Board ("GASS") Statements. Under the provisions of those standards, the financial reporting entity consists of the primarygovernment, organizations for which the District is considered to be financiallyaccountable, 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. Blended component units, although legally separate entities, are, in substance, part of the government's operations.
Blended Component Unit
The SPE owns, manages, maintains, and will sell and dispose of property forthe benefit ofthe Bondholders. The SPE is reported as a special revenue fund.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Government-Wide and Fund Financial Statements
The basic financial statements include both government-wide and fund financial statements.
The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government. Forthe most part, the effect of interfund activity has been removed from these statements.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to customers who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment; operating-type special assessments for maintenance and debt service are treated as charges for services and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Other items not included among program revenues are reported instead as general revenues.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Measurement Focus, Basis of Accounting and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis ofaccounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Assessments are recognized as revenues in the year for which they are levied. Grants and similar items are to be recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis ofaccounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collected within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures are recorded only when payment is due.
Assessments
Assessments are non-ad valorem assessments imposed on assessable lands located within the District. Assessments may be levied on property to pay for the operations and maintenance of the District. The fiscal yearfor which annual assessments may be levied begins on October 1 with discounts available for payments through February 28 and become delinquent on April 1. For debt service assessments, amounts collected as advance payments are used to prepay a portion of the Bonds outstanding. Otherwise, assessments are collected annually to provide funds for the debt service on the portion of the Bonds which are not paid with prepaid assessments.
Assessments and interest associated with the current fiscal period are considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. The portion of assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period.
The District reports the following major governmental funds:

General Fund
The general fund is the general operating fund of the District. It is used to account for all financial resources except those required to be accounted for in another fund.
Debt Service Fund
The debt service fund is used to account for the accumulation of resources for the annual paymentof principal and interest on long-term debt.
Capital Projects Fund
This fund accounts for the financial resources to be used for the acquisition or construction of major infrastructure within the District.
Special Revenue Fund
The special revenue fund accounts for the activities of the SPE, a blended component unit of the government. The SPE owns, manages, and maintains, and will sell and dispose of property for the benefit of the Bondholders.
As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements.
When both restricted and unrestricted resources are available for use, it is the government's policy to use restricted resources first for qualifying expenditures, then unrestricted resources as they are needed.
Assets, Liabilities and Net Position or Equity
Restricted Assets
These assets represent cash and investments set aside pursuant to Bond covenants or other contractual restrictions.
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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity(Continued)

Deposits and Investments
The District's cash on hand and demand deposits are considered to be cash and cash equivalents.
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 lnterlocal 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.
In addition, surplus funds may be deposited into certificates of deposit which are insured and any unspent Bond proceeds are required to be held in investments as specified in the Bond Indenture.

The District records all interest revenue related to investment activities in the respective funds. Investments are measured at amortized cost or reported at fair value as required by generally accepted accounting principles.
Land Held for Resale
Land held for resale represents land the District foreclosed on in a prior fiscal year. The land is recorded atfair value. Fair value was estimated using the Citrus County Property Appraiser's valuation which management fees approximates fair market value at September 30, 2017.

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

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

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed.
Property, plant and equipment of the District are depreciated using the straight-line method over the following estimated useful lives:

Assets Infrastructure

Years 20 - 30

In the governmental fund financial statements, amounts incurred for the acquisition of capital assets are reported as fund expenditures. Depreciation expense is not reported in the governmental fund financial statements.

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

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Assets, Liabilities and Net Position or Equity(Continued)

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

In the fund financial statements, governmental fund types recognize premiums and discounts, as well as issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as otherfinancing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.
Deferred Outflows/Inflows of Resources
Deferred outflows of resources represent a consumption of net position that applies to future reporting period(s). For example, the District would record deferred outflows of resources on the statement of net position related to debit amounts resulting from current and advance refundings resulting in the defeasance of debt (i.e., when there are differences between the reacquisition price and the net carrying amount of the old debt).

Deferred inflows of resources represent an acquisition of net position that applies to future reportingperiod(s). For example, when an asset is recorded in the governmental fund financial statements, but the revenue is unavailable, the District reports a deferred inflow of resources on the balance sheet until such time as the revenue becomes available.
Fund Equity/Net Position
In the fund financial statements, governmental funds report non spendable and restricted fund balance for amounts that are not available for appropriation or are legally restricted by outside partiesfor use for a specific purpose. Assignments of fund balance represent tentative management plans that are subject to change.
The District can establish limitations on the use of fund balance as follows:
Committed fund balance- Amounts that can be used onlyfor the specific purposes determined bya formal action ( resolution) of the Board of Supervisors. Commitments may be changed or lifted only by the Board of Supervisors taking the same formal action (resolution) that imposed the constraint originally. Resources accumulated pursuant to stabilization arrangements sometimes are reported in this category.
Assigned fund balance - Includes spendable fund balance amounts established by the Board of Supervisors that are intended to be used for specific purposes that are neither considered restricted nor committed. The Board may also assign fund balance as it does when appropriating fund balance to cover differences in estimated revenue and appropriations in the subsequent year's appropriated budget. Assignments are generally temporary and normally the same formal action need not be taken to remove the assignment.

The Districtfirst uses committed fund balance, followed byassigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used.

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

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Other Disclosures
Use of Estimates
The preparation of fi nancial 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 liabil ities at the date of the financial statements, and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates.
NOTE 3 - BUDGETARY INFORMATION
The District is required to establish a budgetary system and an approved Annual Budget. Annual Budgets are adopted on a basis consistent with generally accepted accounting principles for the general fund.  All annual appropriations lapse at fiscal year-end.
The District follows these procedures in establishing the budgetary data reflected in the financial statements.
Each year, the District Manager submits to the District Board a proposed operating budget for the fiscal year commencing the following October 1. 
A public hearing is conducted to obtain comments.
Prior to October 1, the budget is legally adopted by the District Board.
All budget changes must be approved by the District Board.
The budgets are adopted on a basis consistent with generally accepted accounting principles.
Unused appropriation for annually budgeted funds lapse at the end of the year.
NOTE 4 - DEPOSITS AND INVESTMENTS
Deposits
The District's cash balances were entirely covered by federal depository insurance or by a collateral pool pledged to the State Treasurer. Florida Statutes Chapter 280, ''Florida Security for Public Deposits Act" , requires all qualified depositories to deposit with the Treasurer or another banking institution eligible collateral equal to various percentages of the average daily balance for each month of all public deposits in excess of any applicable deposit insurance held. The percentage of eligible collateral (generally, U.S. Governmental and agency securities , state or local government debt, or corporate Bonds) to public deposits is dependent upon the depository's financial history and its compliance with Chapter 280. In the event of a failure of a qualified public depository, the remaining public depositories would be responsible for covering any resulting losses.
Investments
The District's investments were held as follows at September 30, 201 7:
Amortized Cost	Credit Risk		Maturities Fidelity Government Portfolio Class 111	$	314,316	S&P AAAm	Not availabl e
Total  Investments	-$ 	3 1-4�, 3-1 6-

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 i nvestments.
Concentration risk - The District places no limit on the amount the District may invest in any one issuer.
Interest rate risk - The District does not have a formal policy that lim its investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates.
However, the Bond Indenture lim its the type of investments held using unspent proceeds.

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NOTE 4 - DEPOSITS AND INVESTMENTS (Continued)
Investments (Continued)
Fair Value Measurement - When applicable, the District measures and records its investments using fai r 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 abil ity to access;
Level 2: Investments whose inputs - other than quoted market prices - are observable either directly or indirectly; and, 
Level 3: Investm ents 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 enti re fair value measurement. Valuation techniques used should maximize the use of observable inputs and minimize the use of unobservable inputs .
Money market investments that have a maturity at the time of purchase of one year or less and are held by governments other than external investment pools should be measured at amortized cost. Accordingly, the District's investments have been reported at amortized cost above.
NOTE 5 - CAPITAL ASSETS
Capital asset activity for the fiscal year ended September 30, 201 7 was as follows:
Beginning	Ending
Balance	Additions	Disposals	Balance
�o�mm!ln!�I e&!ivi!i�l!
Capital assets, not being depreciated
Land	$	3, 050,000   $	$	$	3,050, 000
Infrastructure under construction	2,464, 660	2,464, 660
Total capital ass ets . not being depreciated	5,51 4, 660	5, 51 4, 660
Capital assets, being depreciated
Infrastructure	4,836, 030	4,836, 030
Total capital assets, being depreciated	4, 836,030	4, 836, 030
Less accumulated depreciation for:
Infrastructure	(2, 052,873)	(212, 342)	(2,265, 215)
Total accumulated depreciation	(2,052, 873)	(2 1 2, 342)	(2,265,215)	
Total capital as sets, being depreciated, net	2,783, 1 57	(21 2, 342)	2, 570, 815 	
Gowmmental activities capital assets,  net	$	8,297, 817 	$	(212,342)	$	$	8,085, 475	
The total estimated cost of the 2007 project was estimated at approxim ately $1 3.075 mil lion, including land acquisition costs (equal to approximately $3 million), of which approximately $1 2.627 million was expected to be funded with proceeds from Series 2007 Bonds. The remainder of the project was to be funded by the Developer in accordance with a completion agreement. However, due to the financial condition of the original D eveloper, the proj ect is currently on hold .
Further, due to the uncertainty as to the completion of the project within a reasonable period of time, the i nfrastructure may not be able to be used for its intended purpose as anticipated in the original project description. There is no estim ate at this time for the additional funding that might be required if there is a change to the project.

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NOTE 6 - LONG-TERM LIABILITIES
On February 1, 2007, the District issued $1 5,535 ,000 of Capital Improvem ent Reven ue Bonds Se ries 2007, consisting of $5 ,865 ,000 Series 2007A Bonds and $9,670,000 of Se ries 2007B Bonds with fixed interest rates of 5.50% and 5.40%, respectively. The Bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the property within the District. Interest is paid sem iannually on each May 1 and Novem ber 1. Principal on the Series 2007A Bonds is payable serially commencing May 1, 2009 through May 1, 2038. Pri ncipal on the 2007B Bonds was due in one lum p sum on May 1, 201 5. 
The Series 2007A Bonds are subject to redemption at the option of the District prior to their m atu rity. The Series 2007B Bonds are not su bject to optional redemption . The Bonds are subject to extraordinary mandatory redem ption prior to their selected matu rity in the manner determ ined by the Bond Registrar if certain events occurred as outlined in the Bond Indenture.
The Bond Indentu re requi res that the District maintain adequate funds in a reserve account to meet the debt service reserve requirement as defined in the Indenture. The District was not in compliance with the reserve requirement at September 30, 201 7. In addition, the Bond Indenture has ce rtain restrictions and requi rements relating pri ncipally to the use of proceeds to pay for the infrastructure im provem ents and the procedures to be followed by the District on assessm ents to property owners .  The District agrees to levy special assessments in an nual amounts adequate to provide payment of debt service and to meet the reserve req uirements.
During prior fiscal years, the Developer failed to make payment on the special assessments which ultimately secure the Bonds.  As a result of the delinq uent assessments, the District did not have sufficient funds to make certain scheduled debt service paym ents in cu rrent and prior fiscal years, and as a result, the payments were not made. As a result, the Bonds are in default. The past due amounts have been reported on the financial statements as due to Bondholders and reflects $1 0,490,000 due for principal and $6,722,843 due for interest. The nonpayment of its debt service payments by the District are considered event of defaults. Additionally, the funds needed to pay certain default related expenditures were paid from the Debt Service Reserve Accounts. As a result of these payments, there is a deficit of approximately $396,000 in the Series 2007A Reserve Account and $583,000 in the Series 2007B Reserve Account at September 30 , 20 1 7. See Note 11 for additional information subsequent to fiscal year end .
Changes in long -term liability activity for the fiscal year ended September 30 , 20 17 were as follows:

Beginning	Ending	Due Within
Balance	Additions	Reductions	Balance	One Year
Go�mment§I  acti"1!i!lS Bonds payable:
Series 2007	$	5, 085, 000	$	$	( 1 20,000)    $	4, 965, 000	$	1 30, 000
Less issue discount	(62,583)	3, 078	(59, 505)
Total	$	5, 022, 417	$	$	( 1 1 6, 922)    $	4, 905,495	$	130, 000
At Septem ber 30, 201 7, the sched uled debt service requirements on the long-term debt were as follows:

Year ending
September 30:	
Principal	Go1.emmental Actillities
Interest	
Total	
201 8	$	130,000	$	318,175	$	448, 175	
201 9	1 35,000	31 1, 025	446, 025	
2020	145,000	303, 600	448,600	
2021 	1 50, 000	295 ,625	445 ,625	
2022	1 60, 000	287,375	447,375	
2023-2027	950, 000	1 , 293, 875	2, 243,875	
2028-2032	1, 255, 000	1, 001 ,275	2, 256,275	
2033-2037	1, 650, 000	61 4, 900	2, 264, 900	
2038	390, 000	66,550	456,550	
Total	$	4,965 ,000	$	4, 492, 400	$	9,457, 400	

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NOTE 7- DEFlCIT FUND EQUITY

The debt service fund had a deficit fund balance of ($17,1 34,401) at September 30, 2017. The deficit will not be covered before the SPE sells the property held for sale and resumes levying assessments.
NOTE 8 - TRI-PARTY AGREEMENT AND SPECIAL PURPOSE ENTITY

The Developer originally agreed to fund the general fund operations of the District and assessments were levied for this purpose on an annual basis. However, as discussed in Note 6, as a result of the Developer's failure to payassessments in priorfiscal years, the District did not makecertain debtservice payments when due, which constitutes an event of default underthe applicable Trust Indenture. In 2010, the District obtained a final judgment of foreclosure against property on which assessments had not been paid ("Foreclosed Property"). The District and the Trustee, on behalf ofthe Bondholders, created the SPE to own, manage and dispose of the Foreclosed Property. The District, Trustee and the SPE entered into a Tri-Party Agreement wherebythe parties acknowledged that the funds to operate the SPE would be provided by the Trustee. The Trustee agreed that it will use available funds on deposit in the Trust Estate (i.e., the Trust Accounts), including proceeds from the sale of all or a portion of the Foreclosed Property, subject to the consent of the Bondholders, to payquarterly operating funding requests. Should funding from the Trustee cease or otherwise become delinquent for a period of sixty (60} days, the parties acknowledge that the District may impose operating and maintenance assessments upon the Foreclosed Property and totake all actions necessary to collect such operating and maintenance assessments, including foreclosure, which determination shall bethe exclusive rightof the District. In the eventthatthe District exercisesits right to initiate foreclosure proceedings, the SPE waives any rights, arguments, claims or defenses in such foreclosure proceedings and agrees in no wayto prevent the District from taking such action. If funds are no longer available in the Trust Estate and another funding source has not been secured, the SPE may also convey the Foreclosed Property to the District (with the District's consent) for ownership and maintenance. Nevertheless, the inability of the Trustee to pay a quarterly funding request due to unavailable or insufficient funds in the Trust Estate shall not constitute a default under the Tri-Party Agreement.

Pursuant to the Bond Indenture, the Trustee, on behalf of the Bondholders, has access to the funds held on deposit in the trust accounts. Expenditures (including legal fees, trustee fees, SPE property marketing fees, and property taxes) totaling $1 54,856 were paid out of the trust accounts in the currentfiscal year. During the current fiscal year, $42,51 3 was provided bythe Bondholders, of which $33,299 was used bythe general fund to finance a portion of the general operations ofthe District and $9,214 was used by the special revenue fund to pay for some of the SPE's costs.

NOTE 9 - MANAGEMENT COMPANY

The District has contracted with a management company to perform management services, which include financial and accounting services. Certain employees of the management company also serve as officers (Board appointed non-voting positions) of the District. Under the agreement, the District compensates the management companyfor management, accounting, financial reporting, and other administrative costs.

NOTE 10- RISK MANAGEMENT

The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters. The District has obtained commercial insurance from independentthird parties to mitigate the costs of these risks; coverage maynot extend to all situations. There were no settled claims during the past three years.
NOTE 11 - SUBSEQUENT EVENTS
Scheduled Debt Service Payments
Subsequent to fiscal year end, certain scheduled debt service payments were not made. The District's inability to make its scheduled debt service payments when due is considered an event of default. Also, the Series 2007 Debt Service Reserve Accounts have not been replenished; therefore, the District is not in compliance with the requirements of the Bond Indenture.

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NOTE 11 - SUBSEQUENT EVENTS (Continued)
Potential Sale of Land Held for Resale
Subsequent to fiscal year end, the SPE entered into a Purchase and Sale Agreement with Turner Road Land Trust ("Purchaser") to purchase the Foreclosed Property. In accordance with the terms of the agreement, there is an inspection period of 1 20 days which commenced on August 7, 2018. During the inspection period, the Purchaser has the unconditional right to terminate the agreement by delivering written notice. The inspection period may be extended in accordance with the terms of the agreement. It the agreement has not been terminated, the closing for the sale of the Foreclosed Property will occur 30 days following the expiration of the inspection period, or on an earlier date that is mutually acceptable to both parties.

If the sale occurs, any assessments levied by the District for repayment of any outstanding Bonds will be extinguished and any lien or notices related thereto will be released as of closing so that there will be no further District debt service assessments of any kind due after the closing date, and following closing will cause the District Bonds to be cancelled. Operations and maintenance expenses incurred by the District tor fiscal year 2018 prior to the closing date or tor any of the District's previous fiscal years, to the extent such assessments have been levied, shall be paid by the SPE on or before the closing date. Purchaser will be responsible for payment of any operations and maintenance costs which may be incurred by the District from and after the closing date.

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WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT CITRUS COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - GENERAL FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 201 7

Variance with
Budgeted		Final Budget	
Amounts	Actual	Positive	
Original & Final	Amounts	(Negative)	
REVENUES
Bondholder contributions	$	11 3, 027	$	33,299	$	( 79, 728)
Miscellaneous I ncome	748	748
Total revenues	11 3,027	34, 047	(78, 980)
EXPENDI TURES
Current:
General government	59,605	33,71 9	25,886
Maintenanc e and operations	53 ,422	30, 072	23, 350
Total expenditures	11 3,027	63, 791	49, 236
Excess (deficiency) of revenues
over ( under) expenditures	(29, 744)	( 29, 744)
OTHER FI NANCI NG SOURCES
Transfer in	(5, 020)	(5, 020)
Total other financing sources	(5,020)	(5,020)
Net change in fund balances	$	( 34, 764)	$	(34,764}
Fund balance -  beginning	61 , 876
Fund balance - endi ng	$	27, 11 2

See notes to required supplem entary inform ation

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WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT CITRUS COUNTY, FLORIDA
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION

The District is required to establish a budgetary system and an approved Annual Budgetfor thegeneral fund. The District's budgeting process is based on estimates of cash receipts and cash expenditures which are approved by the Board. The budget approximates a basis consistent with accounting principles generally accepted in the United States of America (generally accepted accounting principles).

The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Anybudget amendments that increase the aggregate budgeted appropriations must be approved bythe Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2017.

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95 1 Yamato Road • Suite 280 Boca Raton, Florida 3343 1
(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      GO VERNMENT A UDITING STANDARDS

To the Board of Supervisors
Wyld Palms Community Development District Citrus County, Florida
We have audited , in accordance with the auditing standards generally accepted in the Un ited States of Am erica and the standards applicable to financial audits contained in Government Auditing Standards issued by the Com ptroller General of the United States, the financial statements of the governmental activities and each m ajor fund of Wyld Pal ms Comm unity Development District, Citrus County, Florida ("District") as of and for the fiscal  year ended September 30,  201 7,  and the  related notes to the financial statem ents,  which collectively comprise the District's basic financial statements, and have issued our opinion thereon dated October 3, 20 18 , which includes an explanatory paragraph regarding the qualified opinion for the debt service fund due to the lack of sufficient com petent evidential m atter and an emphasis of matter paragraph.
Internal Control Over Financial Reporting
In planning and perform ing our audit of the financial statem ents, we considered the District's internal control over financial  reporting  (internal  control)  to determ ine the  audit  procedures that are appropriate  in  the circum stances to r 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 perform ing 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 possibi l ity that a m aterial 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 com bination of deficiencies, in internal control that is less severe than a material weakness, yet important enoug h 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 desi gned to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies. Given these lim itations, during our audit we did not identify any deficiencies in internal control that we conside r to be material weaknesses. However, m aterial weaknesses m ay exist that have not been identified. 
Compliance and Other Matters
As part of obtain ing reasonable assurance about whethe r 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, noncom pliance with which could have a direct and material effect on the d eterm ination  of financial statement am ounts.  However,  providing an opinion on compliance with those provisions was not an objective of our aud it, and accordingly, we do not express such an opinion. The results of our tests disclosed certain instances of noncom pliance that we reported to management of the District in a separate letter dated October 3, 20 1 8.

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We noted certain matters that we reported to management of the District in a separate letterdated October 3, 201 8.
The District's responses tothefindings identified in ouraudit are described in the accompanying Management Letter. We did not audit the District's responses and, accordingly, we express no opinion on them.

Purpose of this Report

The purpose ofthis report is solelyto describe the scopeof 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 accordancewith GovernmentAuditing Standards in considering the entity's internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

October 3, 2018

25

Grau & Associates
U R I I I IF P P IIB I I C	{

951 Yamato Road • Suite 280 Boca Raton, Florida 3343 1
(561 ) 994-9299 • (800) 299-4728
Fax (561 ) 994-5823
www. graucpa.com

INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 21 8.41 5, FLORIDA STATUTES, REQUIRED BY RULE 1 0.556(1 0) OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
To the Board of Supervisors
Wyld Palms Com munity Developm ent District Citrus County, Florida
We have examined Wyld Palms Comm unity Development District, Citrus County, Florida's ("District") com pliance with the requi rements of Section 21 8.41 5, Florida Statutes, in accordance with Rule 1 0.556(1 O) of the Auditor General of the State of Florida during the fiscal year ended Septem ber 30, 20 1 7. Managem ent is responsible for the District's com pliance with those requi rem ents. Our responsibility is to express an opinion on the District's com pliance based on our examination .
Our exam ination was conducted in accordance with attestation standards established by the Am erican Institute of Certified Public Accountants. Those standards req uire that we plan and perform the examination to obtain reasonable assurance about whether the District com plied , in all material respects , with the specified requirements referenced in Section 21 8.41 5, Florida Statutes. An examination involves performing procedures to obtain evidence about whether the District complied with the specified requirements. The nature, tim ing , and  extent of the procedures selected depend on our judgment, including an assessment of the  risks of m aterial noncom pliance, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for ou r opinion. Our exam ination does not provide a legal determination on the District's compliance with specified requirements.
In our opinion , the District complied , in all material respects, with the aforementioned requirem ents for the fiscal year ended Septem ber 30, 201 7 .
This report is intended solely for the inform ation and use of the Legislative Auditing Com m ittee , mem bers of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, managem ent, and the Board of Supervisors of Wyld Palms Comm unity Development District, Citrus County, Florida and is not intended to be and should not be used by anyone other than these specified parties.

October 3, 201 8

26

Grau & Associates

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

MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
To the Board of Supervisors
Wyld Palms Comm unity Developm ent District Citrus County, Florida
Report on the Financial Statements
We have audited the accompanying basic financial statements of Wyld Pal ms Com munity Development District, Citrus County, Florida ("District") as of and for the fiscal year ended September 30, 20 17, and have issued our report thereon dated October 3, 201 8, which includes an explanatory paragraph regarding the qualified opinion for the debt service fund due to the lack of sufficient com petent evidential matter and an emphasis of matter paragraph.
Auditor's Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States of Am erica; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Com ptroller General of the United States; and Chapter 1 0.550, Rules of the Auditor General. 
Other Reporting Requirements
We have issued our Independent Auditor's Report on I nternal 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 A/CPA Professional Standards, AT-C Section 31 5, regarding compliance requirements in accordance with Chapter 1 0.550, Rules of the Auditor General . Disclosures in those reports , which are dated October 3, 201 8, should be considered in conj unction with this management letter.
Purpose of this Letter
The purpose of this letter is to com ment on those matters required by Chapter 1 0.550 of the Rules of the Auditor General of 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.
Ill. 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 Com m ittee, mem bers of the Florida Senate and the Florida House of Representatives, the Florida Auditor General , Federal  and other granting agencies, as applicable, managem ent, and the Board of Supervisors of Wyld Palms Community Development District, Citrus County, Florida and is not intended to be and should not be used by anyone other than these specified parties.
We wish to thank Wyld Palms Com mu nity Developm ent District, Citrus 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.
:t,-,4,c.•   ,/-- �,,,j..
Octobe r 3, 20 18 

27

REPORT TO MANAGEMENT

CURRENT YEAR FINDINGS AND RECOMMENDATIONS
2017-01: Financial Condition Assessment
Observation: The District's financial conditions continue to deteriorate. The Developer failed to pay assessments during prior fiscal years. As a result, the District foreclosed on the related property which was acquired by the SPE. Due to a lack of sufficient funds, certain scheduled debt service payments were not made in the prior, current, or subsequent fiscal years resulting in events of default. In addition, the reserve requirements of the Series 2007 Bonds have not been met. Further, the debt service fund reported a deficit fund balance of ($1 7,134,401) at September 30, 2017.

Recommendation: The District should take the necessary steps to alleviate the deteriorating financial condition.

Management Response: The District successfully foreclosed on all property within the District that was assessed to secure the District's Series 2007A and 20078 Bonds, in compliance with the terms of the applicable Bond Trust Indentures. The foreclosed property is being held tor the benefit of the bondholders. When this property is sold, the proceeds from the sale will be used to redeem bonds. All District actions related to the Series 2007A and 20078 Bonds are made in coordination with the bond trustee and bondholders.
2017-02: Statute Compliance
Observation: Florida Statutes require governmental entitiesto file an annual financial reportand a copy of the financial audit with the State within 9 months of the end of the fiscal year. Both the annual financial report and the annual audit reportforthe fiscal year ended September 30, 201 7 werenot filed by June 30, 2018.
Recommendation: We recommend that the District take the necessary steps to comply with the Florida Statutes and file both reports within the statutory time frames.

Management Response: We implemented steps to comply with the Florida Statutes and file both reports within the statutory time frames.

ti. PRIOR YEAR FINDINGS AND RECOMMENDATIONS
1 4-01 - Compliance with Bond Indenture Covenants
Current Status: See finding no. 2017-01 above.

Reference Numbers for Prior Year Findings: 14-01 in fiscal years 2014 - 2016

Ill. 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, 2016, except as noted above.

28

REPORT TO MANAGEMENT (Continued)

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, 2017, except as noted above.
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, 2017, except as noted above.

The name or official title and legal authority of the District are disclosed in the notes to the financial statements.
The financial report filed with the Florida Department of Financial  Services pursuant to Section 21 8.32(1 )(a), Florida Statutes agrees with the September 30, 2017 financial audit report.

In connection with our audit, we determined that the District has met one or more of the financial emergency conditions described in Section 21 8.503(1 ), Florida Statutes. The Districtfailed to make certain scheduled debt service payments due on the Series 2007 Bonds, as a result of a lack of funds. We applied financial condition assessment procedures pursuant to Rule 10.556(7) and determined that a deteriorating financial condition was noted. See Findings section above for additional information. 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.

29

Wyld Palms Community Development District

First Amendment to Operating Agreement of Wyld Palms Holdings, LLC

FIRST AMENDMENT TO OPERATING AGREEMENT OF WYLD PALMS HOLDINGS, LLC
a Florida limited liability company
THIS FIRST AMENDMENT TO OPERATING AGREEMENT (this "Amendment")
of WYLD PALMS HOLDINGS, LLC, a Florida limited liability company (the "Company"), is entered into effective as of April 2, 2019, by WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT, a local unit of special purpose government established pursuant to Chapter 1 90, Florida Statutes, with the address listed on Exhibit A attached hereto (the "Member") and PFM GROUP CONSULTING, LLC, a Delaware limited liability company (the "Successor Manager").

RECITALS
W HEREAS, the Member has heretofore formed a limited liability company called WYLD PALMS HOLDINGS, LLC ("Company"), pursuant to the Florida Limited Liability Company Act, as amended from time to time, by filing Articles of Organization of the Company with the office of the Secretary of State of the State of Florida on October 5, 201 0; and
WHEREAS, the Member executed an Operating Agreement for the Company dated October 19, 2010 (the "Operating Agreement"); and
WHEREAS, the Member has removed Fishkind & Associates, Inc., as Manager of the Company and desires to appoint Successor Manager as Manager of the Company; and
WHEREAS, the Member desires to amend the provisions of the Operating Agreement to memorialize the appointment of Successor Manager as Manager of the Company and to otherwise amend the provisions of the Operating Agreement as set forth herein.
NOW, THEREFORE, in consideration of the agreements and obligations set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged the parties agree as follows:
Amendment to Registered Agent. Section 3 of the Operating Agreement is hereby amended to change the Registered Agent of the Company to PFM Group Consulting, LLC.
Appointment of Successor Manager. Successor Manager is hereby appointed as Manager of the Company. Sub-paragraph (a) of Section 8 of the Operating Agreement is hereby amended to read as follows:
The Company shall be deemed a "manager-managed company" under the Act. The manager of the Company (the "Manager") shall be appointed by the Member from time to time or at any time. The Member may remove the Manager at any time for any reason by written notice to the Manager. The removal of the Manager shall be effective immediately upon the giving of such notice in accordance with this Agreement or at such other time as provided in the notice. The Manager may also

resign at any time by giving at least thirty (30) days written notice to the Member (or such shorter period acceptable to the Member). Unless otherwise specified in such notice, the acceptance of such resignation shall not be necessary to make it effective.
Ratification.	Except as may be specifically amended by this Amendment, the Operating Agreement is hereby ratified by Member in its entirety.
IN WITNESS WHEREOF, the undersigned, intending to be legally bound hereby, has duly executed this First Amendment to the Operating Agreement ofWYLD PALMS HOLDINGS, LLC, as ofthe date hereof.

ME:MBER:
WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT

By:___ 	____

Name: --------------
Title: Chairman, Board of Supervisors

JOINDER OF SUCCESSOR MANAGER
Successor Manager joins in the execution of this First Amendment to the Operating Agreement of WYLD PALMS HOLDINGS, LLC, for the purpose of accepting its appointment as Manager of the Company and memorializing its agreement and consent to the provisions of the Operating Agreement of the Company, as amended by this Amendment.
SUCCESSOR MANAGER:
PFM GROUP CONSULTING, LLC

By: 	_ 	__
Name: --------------
Title:  	

2

Exhibit A
Member Name and Address: Wyld Palms
Community Development District
12051 Corporate Boulevard
Orlando, FL 32817
Phone: (407) 723-5900	Fax: (407) 723-5901
Ownership Percentage: 100%

Wyld Palms Community Development District

District Management and Assessment Consultant Agreement

DISTRICT MANAGEMENT AND ASSESSMENT CONSULTANT AGREEMENT
This District Management Agreement (this "Agreement"), made and entered into this 7u, day of February, 2019 (the "Effective Date") by and between Wyld Palms Community Development District ("DlSTRJCT") and Pishkind & Associates, Inc. (hereinafter called the "MANAGER") sets forth the terms and conditions under which MANAGER shall provide services.
WHEREAS, the DISTR1CT desires to obtain the services of a MANAGER to provide District Management Services; and
WHEREAS, MANAGER is capable of providing the necessary services.
NOW, THEREFORE, in consideration of the above mentioned premises and intending to be legally bound hereby, the DISTRICT and MANAGER agree as follows:
SCOPE OF SERVICES
MANAGER shall provide District Management Services as set fo11h in Exhibit A to this Agreement. Any material changes in or additions to the scope of services described in Exhibit A shall be promptly reflected in a written supplement or amendment to this Agreement. Services provided by MANAGER which are not specifically referenced in the scope of services set forth in Exhibit A ofthis Agreement shall be completed as agreed in writing in advance between the DISTR1CT and MANAGER. Upon request of DISTR1CT, MANAGER or an affiliate of MANAGER may agree to additional services to be provided by MANAGER or an affiliate of MANAGER, by a separate agreement between the DISTR1CT and MANAGER or its respective affiliate.
WORK SCHEDULE
The services ofMANAGER are to commence as soon as practicable after the execution of this Agreement and a request by the DISTRlCT for such service.
Ill.	COMPENSATION
For the services provided under this Agreement, MANAGER's professional fees shall be paid as provided in Exhibit B to this Agreement and DISTR1CT shall pay expenses and fees for other services not set forth in Exhibit A as provided below.
I •	Reimbursable Expenses
In addition to fees for services, MANAGER will be reimbursed for necessary, reasonable, and documented out-of-pocket expenses incurred, including travel, meals, lodging, telephone, mail, and other ordinary cost and any actual extraordinary cost for graphics, printing, data processing and computer time which are incuned by MANAGER only as authorized by the DISTR1CT's approved budget. Documentation of such expenses will be provided to the DISTRICT upon request.
llcv.. 12.3.201 8	1

2.	Other Services
Any services which are not included in the scope of services set forth in Exhibit A of this Agreement wilJ be subject to separate, mutually acceptable fee structures.
TERM AND TERMINATION
This Agreement shall be effective from the Effective Date and shall continue until te1minated by either party as provided herein. The DISTRICT has the right to terminate this Agreement for "good cause" which shall include misfeasance, malfeasance, nonfeasance or dereliction of duties by the MANAGER which, in each case, the MANAGER fails to cure within 10 days of notice thereof. Te1mination for"good cause" shall be effected immediately by provision ofwritten notice to MANAGER. Either party hereto shall have the right to terminate this Agreement, at any time and for any reason whatsoever, upon (i) the DISTRICT providing to the MANAGER a minimum of thirty (30) days advance written notice of its intention to terminate or (ii) the MANAGER providing to the DISTRICT a minimum of sixty (60) days advance written notice ofits intention to terminate. All notices shall be mailed to the person and address specified for use in the giving ofnotice, in paragraph 1 0, hereof. Should the relationship be terminated, MANAGER will be paid for all services performed and costs and expenses incurred up to the termination date.
ASSIGNMENT
Neither pru1y may assign this Agreement or its rights or obligations hereunder without the prior written consent of the other; provided, however, that MANAGER may, upon notice to the DISTRICT, assign MANAGER's rights and obligations under this Agreement to any subsidiary or affiliate of MANAGER or a successor of MANAGER in connection with the sale of all or substantially all ofMANAGER's assets. Subject to the foregoing, this Agreement shall be binding on the parties hereto and their respective successors and assigns.
OWNERSHIP OF INFORMATION, REPORTS, AND DATA
All information, data, reports, and records in the possession ofthe DISTRICT or any third pruty necessary for carrying out any services to be performed under this Agreement ("Data") shall be furnished to MANAGER and the DISTRICT shall, and shall cause its agent(s) to, cooperate with MANAGER in its conduct of reasonable due diligence in performing the services, including with respect to the facts that are necessary in its recommendation(s) to the DISTRICT in connection with a transaction or financial product and/or relevant to a DISTRICT's determination whether to proceed with a course of action. To the extent DISTRICT requests that MANAGER provide advice with regard to any recommendation made by a third party, DISTRICT will provide to MANAGER written direction to do so as well as any Data it has received from such third pruty relating to its recommendation. DISTRICT acknowledges ru1d agrees that while MANAGER is relying on the Data in connection with its provision of the services under this Agreement, MANAGER makes no representation with respect to and shall not be responsible for the accmacy or completeness ofsuch Data.
NOTICES

Rev. .12.3.201 8	2

Al l notices given under this Agreement shall be in writing, sent by registered United States mail, with retum receipt requested, addressed to thepatty for whom it is intended, at the designated below.  The parties designate the following as the respective places for giving notice, to4 wit:
DISTRICT:
Wyld Palms Community Development District 12051 Corporate Boulevard
Orlando, Florida 32817 Attention: Dist1ict Manager
With A Copy To:
Hopping Green & Sams, PA 119 S. Monroe Street, Suite 300
Tallahassee, Florida 32301 Attention: Tucker Mackie
MANAGER:
Fishkind & Associates, Inc. 1205 1 Corporate Boulevard
Orlando, FL 32801
Attention: Hank Fishkind, President
TITLE TRANSFER
All materials, except :functioning or dynamic financial models, prepared by MANAGER pursuant exclusively to this Agreement shall be the property of the DISTRICT. Subject to the foregoing exception, upon termination of this Agreement; at DISTRICT's reasonable request no later than three (3 ) years after the te1mination of this Agreement MANAGER shall deliver to the DISTRICT copies of any and all materials or documents prepared, kept or maintained in accordance with this Agreement.
MANAGER'S REPRESENTATIVES
Assignment of Named Individuals
The professional employees of MANAGER set forth below will provide the services set forth in this Agreement; provided that MANAGER may, from time to time, supplement or otherwise amend the team members set forth below.
Jennifer Walden
Lynne Mullins
Changes in Staff Requested by the DISTRICT

Rev. . 12.3. 201 8	3

The DISTRICThas the right to request, for any reason, MANAGER to replace any member ofthe MANAGER staff. Should the DISTRICT make such a request, MANAGER shall promptly suggest a substitute for approval by the DISTRICT.

INSURANCE
MANAGER shall maintain insurance coverage with policy limits not less than as stated in Exhibit C.

XIIl.	GENERAL PROVISIONS
MANAGER Not to Participate as Underwriter
The MANAGER is precluded from being an underwriter of any debt obligations issued by the DISTRICT and shall not market or otherwise be responsible for the initial offering of the issuance ofany ofthe DISTRICT's debt obligations.
Limitation ofLiability
Exceptto the extent caused by willful misconduct, bad faith, gross negligence or reckless disregard of obligations or duties under this Agreement on the part of MANAGER or any of its associated persons, neither MANAGER nor any of its associated persons shall have liability to any person for (i) any act or omission in connection with the perfo1mance of its services hereunder, (ii) any erTOr ofjudgment or mistake of law, or (iii) any loss arising out ofor any financial or other damages resulting from DISTRICT's election to act or not to act, as the case may be, contrary to or, absent negligence on the part of MANAGER or any of its associated persons, upon any advice or recommendation provided by MANAGER to DISTRICT.
Disclaimer ofMANAGER
The DISTRICT acknowledges that the MANAGER is not an attorney and may not render legal advice or opinions. Although the MANAGER may participate in accumulating information necessary for documents required by the DISTRICT to finalize any particular financing, such infonnation shall be verified by the DISTRICT as to its correctness; provided, however, that the DISTRICT shall not be required to verify the conectness of any infom1ation originated by the MANAGER or the conectness of any information originated by the MANAGER which the MANAGER has used to formulate its opinions and advice given to the DISTRICT.
Attorney Fees and Governing Law
MANAGER and the DISTRICT agree that, should a disagreement arise as to the te1ms or enforcement of any provision ofthis Agreement, each party will in good faith attempt to resolve said disagreement prior to pursuing other action. This Agreement shall be construed, enforced, and administered in accordance with the laws of the State of Florida. In the event either party is required to take any action to enforce this Agreement, the substantially prevailing patty shall be entitled to attorney's fees and costs, including fees and costs incmTed in determining entitlement to and reasonableness ofsuch fees and costs.

Rev. , 12.3.2018	4

Time of the Essence
The DISTRICT and the MANAGER agree that time is ofthe essence and that the services of the MANAGER shall be performed expeditiously.
Entire Agreement
This Agreement represents the entire agreement between DISTRICT and MANAGER for District Management Services contemplated hereby and supersedes all prior agreements, contracts, arrangements, or communications between the parties with respect to the subject matter addressed herein, whether oral or written. This Agreement may not be amended ormodified except in writing signed by both parties. For the sake of clarity, any separate agreement between DISTRICT and MANAGER or any affiliate of MANAGER shall not in any way be deemed an amendment or modification of this Agreement. The invalidity in whole or in part of any provision of this Agreement shall not void or affect the validity ofany other provision.

Authority to Execute and Counterparts

patty

Each patty to this Agreement represents, watTants, and covenants to the other that the person or persons signing this Agreement on behalf ofsuch party is authorized and empowered to sign and deliver this Agreement for such pmty, that such party has the lawful authority to enter into this relationship, and that the governing or managing body ofeach has approved this relationship and bas similarly authorized the execution of this Agreement. This Agreement may be signed in any number of counterparts, each of which shall be an original and all of which when taken together shall constitute one and the same document.
Public Records Disclosure
MANAGER understands and agrees that all documents ofany kind provided to the DISTRICT in connection with this Agreement may be public records, and, accordingly, MANAGER agrees to comply with all applicable provisions of Florida law in handling such records, including but not limited to Section 1 1 9.0701, Florida Statutes. Consultant acknowledges that the designated public records custodian for the DISTRICT is Fish.kind & Associates, Inc. ("Public Records Custodian"). Among other requirements and to the extent applicable by law, the MANAGER shall l) keep and maintain public records required by the DISTRICT to pe1form the service; 2) upon request by the Public Records Custodian, provide the DISTRICT with the requested public records or allow the records to be inspected or copied within a reasonable time period at a cost that does not exceed the cost provided in Chapter 1 19, Florida Statutes; 3) ensure that public records which are exempt or confidential, and exempt from public records disclosure requirements, are not disclosed except as authorized by law for the duration ofthe Agreement term and following the Agreement term if the MANAGER does not transfer the records to the Public Records Custodian of the DISTRICT; and 4) upon completion ofthe Agreement, transfer to the DISTRICT, at no cost, all public records in MANAGER's possession or, alternatively, keep, maintainand meet all applicable requirements for retaining public records pursuant to Florida laws. When such public records are transferred by the MANAGER, the MANAGER shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. All records stored electronically must be provided to the DISTRICT in a format that is compatible with Microsoft Word or Adobe PDF formats.
Rev. . 12.3.2018	5

Independent Contractor
MANAGER, its employees, officers and representatives at all times shall be independent contractors and shall not be deemed to be employees, agents, partners, servants and/or joint venturers of DISTRICT by vi1tue ofthis Agreement or any actions or services rendered under this Agreement. Nothing in this Agreement is intended or shall be construed to give any person, other than the Parties hereto. their successors and permitted assigns, any legal or equitable rights, remedy or claim under or in respect of this Agreement or any provisions contained herein. In no event will MANAGER be liable for any act or omission of any third party or for any circumstances beyond MANAGER's reasonable control including, but not limited to, fire, flood, or other natural disaster, war, riot, strike, act of terrorism, act of civil or military authority, software and/or cqllipmcnt failure, computer virus, or failure or i nterruption of electrical, telecommunications or other utility services.

EffectiTvtie wDiatnteesasbwovheerweorift,tethne.

parties hereto have executed this Agreement, in duplicate, as ofthe

Board of Supervisors:
Wyld Palms Conununity Development District Sign:	Ck�1:f1h	��
Print Name:	(_/'\ /11)/-rp l-1.,1 1	J ,A  l ,i'\

Fishkind & Associates, Inc.

��resident

i(c,·. . 12.3.20 18	6

EXHIBIT A
SCOPE OF SERVICES

General Management Services
General Consultation, Meetings, and DISTRICT Representation
The Manager shall organize the DISTRICT meetings. This includes, but is not limited to, providing the agenda and Board packages, scheduling, notification, publication and related matters. The service to be provided shall also include, but not be limited to p lanning, scheduling, production and quality control, coordination, and administration of various professional service elements.
The manager shall prepare and submit to the DISTRICT's Board of Supervisors a proposed annual budget and administer the adopted budget ofthe DISTRICT.
As the DISTRICT's Manager, we will consult with the DISTRICT Board of Supervisors and its designated representatives, and when necessary, pa1ticipate in such meetings, discussions, project site visits, workshops, and hearings as may pe1tain to the administration, accomplishment and fulfillment of the professional services with regard to the projects and general interest of the DISTRICT.
The Manager shall consult with and advise the DISTRICT on matters related to the operation and maintenance of the DISTRICT and assist the DISTRICT to ensure compliance with all statutes and applicable law affecting the DISTRICT. The Manager will maintain the DISTRICT's website in compliance with applicable law and ensure an e-mail system is in place which provides a separate "CDD e-mail address" for all Board members with an archiving system which will allow the Manager to respond to public records requests and maintain e-mails in compliance with applicable records retention law.
Accounting Services
The Manager shall define and implement an integrated management repotting system which will allow the DISTRICT to represent fairly and with full disclosure the financial position ofthe DISTRICT. Monthly financial statements will be provided in addition to a year-end audited financial statement to be prepared by a ce1tified public accounting firm selected bythe DISTRICT. These services will be coordinated with the DISTRICT's auditors to assure a smooth and efficient audit ofthe DISTRICT's books.

Minutes and Records
The Manager shall define and implement a system of record management for the DISTRICT, including a concise and accurate record of the official actions of the Board of Supervisors and any appointed boards or committees, and shall oversee the maintenance and disclosure ofDISTRICT's records pmsuant to Florida law.

Rev. .12.3.2018	7

Annual Assessments. Lien Book Maintenance and Dissemination Agent
The Manager will maintain the tax roll for the DISTRICT and coordinate and report to the Tax Assessor and Tax Collector for the jurisdiction in which the DISTRICT exists.
The Manager will administer the DISTRICT's assessment methodology during platting and maintain the DISTRICT's lien book and release of liens at closings.
The Manager will provide continuing disclosure filing coordination and assistance for DISTRICT debt issues on EMMA as required by the MSRB and other regulatory agencies.

Assessment Consulting Services
The Manager shall fonnulate the DJSTRICT's special assessment methodology or similar security for debt issuance in consultation with the DISTRICT's counsel, consulting engineer, bond counsel, and other consultants and professionals, including the preparation of an assessment methodology report.

Re,·. .12.3.2018	8

EXHIBIT B COMPENSATION FOR SERVICES

R

Type of District	Management		
Inactive	$5 ,000		
Developer Control	$1 0,000		
Resident Control	$60, 000		
Website	Set Up 	Annual	
Minimum 	$2 ,000	$900	
Standard	$3,000 	$2 ,500	
Deluxe	$5,000 	$5 ,000 	
Lien Book, Tax Roll, and 
Contin uing Disclosure Services	Amount		
Base Fee	$5, 000		
Fee per debt issue	$7 , 500		
Assessment Methodology
P reparation and Assessment Consulting Services		Fee to be negotiated per debt
issuance	

The table below outlines the minimum management fees . The fees depend upon the type of district, the website selected, and the number of debt issues outstanding for the DISTICT. Fees are reviewed and adjusted annually pursuant to the DISTRICT's budget process. Our fees include the provision of the services described in Exhibit A, as well as the reimbursable expenses set forth in Section III( l).

Fee

Rei·. . 12.3.2018	9

EXHIBIT C INSURANCE

MANAGER shall provide and maintain the following levels of insw-ance coverage at all times subsequent to the execution of this Agreement:
Worker's Compensation insurance to cover full liability under worker's compensation laws in effect in Florida.
General Liability insurance with limit of one million dollars ($ 1 ,000,000.00) per each OCCWTence.
Professional Liability insw-ance with limit of one million dollars ($1,000,000.00) per each occunence. Claims-made policies shall have at least a three-year repo1ting period.
Employment Practices Liability insurance with limit of two million dollars ($2,000,000.00) per each occmTence.
Commercial Crime insurance with limit of two million dollars ($2,000,000.00) per each occurrence.
Comprehensive Automobile Liability insurance for all hired and non-owned vehicles used by the Consultant's staffwith a combined single limit ofone million dollars ($ 1 ,000,000.00).
The QISTRICT (and its staff, consultants, and supervisors as applicable) will be listed as additional insureds on the General Liability and Automobile insurance policies described above. The DISTRICT (and its staff, consultants, and supervisors as applicable) will be listed as a joint loss payee on the Commercial Crime insurance. None ofthe policies above may be canceled during the term of this Agreement (or otherwise cause the DISTRICT to not be named as an additional insured or joint loss payee where applicable) without sixty (60) days written notice to the DISTRICT. MANAGER will furnish the DISTRICT with a Ce1tificate of Insurance evidencing compliance with this section prior to Agreement commencement and upon request.

Rev, .1 2.3.2018	10 

Wyld Palms Community Development District

Resolution 2019-04, Designating District Manager and
Assessment Consultant

RESOLUTION 2019-04
A RESOLUTION DESIGNATING FISHKIND & ASSOCIATES, INC., AS DISTRICT MANAGER FOR THE WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT, AUTHORIZING COMPENSATION, AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Wyld Palms Community Development District ("District") is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated in Duval County, Florida; and

WHEREAS, the Board of Supervisors ("Board") of the District has previously appointed Fishkind & Associates, Inc. as District Manager (hereinafter, collectively, the "District Manager"); and

WHEREAS, the Board of Supervisors and Fishkind & Associates, Inc. desire to enter into a revised District Management Agreement, the ("Fishkind Agreement"), which shall be dated effective as of the date of this Resolution, the form of which is attached hereto as Exhibit A; and
WHEREAS, pursuant to the terms of the Fishkind Agreement, Fishkind & Associates, Inc. may, upon notice to the District, assign its rights and obligations under such agreement to any subsidiary, affiliate, or successor in connection with the sale of all or substantially all of Fishkind & Associates, Inc. 's assets; and

WHEREAS, Fishkind & Associates, Inc. has recently advised the Board of Supervisors of the District of its intent to enter into a proposed transaction (the "Transaction") with PFM Financial Advisors LLC or PFM Consulting Services, LLC orits affiliate(s) (collectively, "PFM") whereby Fishkind will sell all or substantially all of its assets to PFM; and

WHEREAS, in connection with the Transaction and pursuant to the Fishkind Agreement, Fishkind & Associates, Inc. desires to assign its rights and obligations as District Manager under the Fishkind Agreement to PFM upon and after the date the Transaction is consummated, and the Board is amenable to such assignment upon the consummation of the Transaction.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT:
Fishkind & Associates, Inc. has previously been appointed the District Manager to the District.

Fishkind & Associates, Inc., shall be compensated for services in such capacityin the manner prescribed set forth in the Fishkind Agreement attached hereto as Exhibit A, which agreement is approved as to form and substance. Upon execution of the Fishkind Agreement attached hereto as Exhibit A, all prior agreements relating to

the services contemplated in the Fishk:ind Agreement attached hereto as Exhibit A are hereby rescinded by the parties and shall be of no further force and effect. 
The assignment by Fishkind & Associates, Inc. of al l of its rights and obligations as District Manager under the Fishkind Agreement to PFM is approved by the Board in connection with, and shall become effective upon, consummation of the Transaction referenced hereinabove.
This Resolution shall become effective immediately upon its adoption. Adopted this 2nd day of April, 2019.

ATTEST:

Secretary
Exhibit A: Fishk:ind Agreement

WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT

Chairman

2

Wyld Palms Community Development District

Resolution 2019-05, Approving a Preliminary Budget for Fiscal
Year 2020 and Setting a Public Hearing Date

RESOLUTION 2019-05
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT APPROVING PROPOSED BUDGETS FOR FISCAL YEAR 2019/2020 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW; ADDRESSING TRANSMITTAL, POSTING AND PUBLICATION REQUIREMENTS; ADDRESSING SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the District Manager has heretofore prepared and submitted to the Board of Supervisors ("Board") of the Wyld Palms Community Development District ("District") prior to June 15 , 20 1 9, proposed budgets ("Proposed Budget") for the fiscal year beginning October 1, 20 19 and ending September 30, 2020 ("Fiscal Year 2019/2020''); and
WHEREAS, the Board has considered the Proposed Budget and desires to set the required public hearing thereon.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT:
l. PROPOSED BUDGET APPROVED. The Proposed Budget prepared by the District Manager for Fiscal Year 20 1 9/2020 attached hereto as Exhibit A is hereby approved as the basis for conducting a public hearing to adopt said Proposed Budget.
SETTING A PUBLIC HEARING. A public hearing on said approved Proposed Budget is hereby declared and set for the following date, hour and location:
DATE:
HOUR:
LOCATION:	Wyld Palms Clubhouse 6442 E. Turner Camp Road Inverness, Florida 34426
TRANSMITTAL OF PROPOSED BUDGET TO LOCAL GENERAL PURPOSE GOVERNMENTS. The District Manager is hereby directed to submit a copy of the Proposed Budget to the City of Inverness and Citrus County at least 60 days prior to the hearing set above.
POSTING OF PROPOSED BUDGET. In accordance with Section 1 89.0 1 6, Florida Statutes, the District's Secretary is further directed to post the approved Proposed Budget on the District's website at least two days before the budget hearing date as set forth in Section 2, and shall remain on the website for at least 45 days.

PUBLICATION OF NOTICE. otice of this public hearing shal l be publi bed in the manner prescribed in Florida law.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of thi Resolution shall not affect the val idity or enforceability of the remaining po11ions of this Re olution, or any part thereof.

EFFECTIVE DATE. Thi Re olution shall take effect immedfately upon adoption. PASSED AND ADOPTED Tms 2ND DAY OF APRIL, 2019.

ATTEST:

Secretary

WYLD PALMS COMMUNITY DEVELOPMENT DISTRICT

By: 	
It : 	

Wyld Palms Community Development District

Fiscal Year 2019 SPE Operating Budget
(provided under separate cover)

Wyld Palms Community Development District

Purchase and Sale Agreement
(provided under separate cover)

Wyld Palms Community Development District

Payment Authorization Nos. 126 - 140

WYLD PALMS
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T 

Payment Authorization No. 126 7/20/20 18 
Item
No.

Payee

Invoice BIiiing #

General
Fund

Capital Projects

2	Pool Service May 20 18 
City of Inverness Apr 201 8	30308	$568. 00	
	Account # 1 35000 1 000
Account # 1 35000 1 001	339469
339470	$ $9. 55
226.36	
	Account # 1 35001 0000	339479	$70. 12 	
Accou nt # 1 35001 1 000
Accou nt # 1 35001 3000	339480
339482	$71 .34	
Account #1 3500 1 7000	339486	$23.94	
Account # 1 350022000	339491 	$44. 17 	
Account # 1 350023000	339492	$70.12 	

1	A Clear Water Pool

$ 7.60

Centurylink 
Account # 31 22301 89 July
Fis hklnd & Associates

201 8

y

$ 289. 70

$

District Management Fee Jul 

2018 

23076

92 1 .49

Florida Munlclpal Insurance Trust (FMIT Insurance 1 7/1 8 Fund Year
Schlabach Security and Sound Month ly mon itoring fee - July 20 18 

7/1 /20 18 

581 89

TOTAL

$2 , 443. 75

$ 58.00 

$4, 804.14	$0.00
$4,804.1 4

1
D

WVLD PALMS
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 1 27
8/1 4/201 8

Item	Payee	Invoice	General	Capital	
No.		Billing #	Fund	Projects	
Centurylink
Account #3 1 1 851 928 : Service July 16 - August 15	$1 53.1 1
Account #3 1 22301 89 : Service August 01 - August 31	$1 45.56
City of Inverness July 201 8
Account #1 350022000	344255	$44. 17 
Account #1 350023000	344256	$70. 12 
Account #1 350001 000	344233
Account #1 350001 001	344234	$233.97
Account #1 35001 0000	344243	$70. 12 
Account #1 35001 1 000	344244	$9.55
Account #1 35001 3000	344246	$71 .34
Account #1 35001 7000	344250	$23 .94
Florida Pest Control
Pest Control Service - Ju ly	WY0035	$1 97. 93

General Counsel thru 6/30/2018 
Seco Energy	1 01 749	$205.00	
Account # 201 1 97600 1 : Service 06/20/1 8 - 07/20/1 8		$28.92	
Account # 20 11 438701 : Service 06/20/1 8 - 07/20/1 8		$27.56	
Account # 201 1 3621 01 : Service 06/20/1 8 - 07/20/1 8		$27.56	
Account # 20 1 1 1 62501 : Service 06/20/1 8 - 07/20/1 8		$40 .83	

Hopping Green & Sams 5

Tampa Bay Times
Advertising Run Date : Service 07/20/1 8-7/27/1 8	655558	$1 47 .90

Chris Julin		$200 .00		
John Blakley		$200.00		
Patricia Walden		$200.00		
		
$2 ,1 07. 13 	
$0 .00	
	TOTAL	$2,1 07. 13 		

Wyld Palms CDD Meeting 8/7/201 8

Secretary	Chairman

WYLD PALMS
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T 

Payment Authorization No. 128 8/31 /20 18 
Item	Payee
No.

A Clear Water Pool
Pool Service August 201 8	
30883	
$568.00	
Centuryllnk
Account #31 1851 928 ; Service Aug 16 - Sep 15 		
$152.07	

1

Invoice Billing #

General	Capital
Fund	Projects

2

Chris Julin
Reimbursement; Two Machines and Fuel

$640.00

Flshklnd & Associates, Inc. OM Fees August 201 8

Fforida Municipal Insurance Trust (FMIT Insurance 1 8/1 9 Fund Year

Schlabach Security and Sound Monthly monitoring fee - August 2018 

Seco Energy
Account#201 1 162501 7/20/1 8 - 8/21/18 
Account #201 1 322701 7/20/1 8 - 8/21/18 
Account #201 1 329201  7/20/1 8 - 8/21/1 8
Account #201 1 362101 7/20/1 8 - 8/21/18 Account #201 1438701 · 7/20/18 - 8/21/1 8 Account #201 1 976001 7/20/1 8 - 8/21/1 8

Secretary

23234

58510 

TOTAL

$91 0.68

$2 ,518.25 

$58. 00

$41 .18 
$6 14.64
$1 70. 34
$27.56
$27. 56
$29.51 

$5, 757.79	$0.00
$6,757.79

Chairman

WYLD PALMS
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 129 9/27/201 8

Item No.	Payee	Invoice Billing #	General
Fund	Capital Projects	
1	A Clear Water Pool Service, Inc.
September pool service	
31 11 2	
$568.00	
	July pool service	30689	$568.00	
2	Ai r Care Heating & Cooling, Inc.
Service Order	61 697	$1 27.00	
3	Centurylink 
Account #31 2230 1 89 ; Service September 01 - September 30		
$1 42.98	
4	Fishkind & Associates, Inc .
DM fees September 201 8	23426	$1 ,051 .23	
5	Hopping Green & Sams
General Counsel through 07/31/201 8	
1 02372	
$402.50	
6	Schlabach Security and Sound
Monthly monitoring fee - September 20 18 	
58853	
$58.00	
7	Tampa Bay Times
Advertising Run Date ; Service 08/01/1 8-8/31/18	76809	$151 .21 

$3,068.92	$0.00
TOTAL	$3,068.92

Secretary	Chairman

WYLD PALMS
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T 

Payment Authorization No. 1 30
1 0/5/2018 

Item	Payee	Invoice	General	Capital 	
No. 		Billing #	Fund 	Projects	
A Clear Water Pool Service Inc.
October pool service	31 282	$1 ,1 36.00
Century Link 
Account #31 1 851 928 ; Service September 16 - October 15	$1 52. 15 

City of Inverness
Account #1 35001 3000	35371 8	$1 57 ,68	
Account #1 35001 0000	35371 5	$138.87 	
Account #1 350023000	353728	$1 55.24	
Account #1 350001 000	353705	$9.55	
Account #1 35001 7000	353722	$62.88	
Account #1 350001 001 	353706	$226 .36	
Account #1350022000	353727	$103. 34	
Account #1 35001 1 000	353716 	$19.10 	
Hopping Green & Sams
General Counsel through 08/3 1 /201 8	1 02825	$ 1 ,049. 00

Tampa Bay Times
Advertising Run Date ; Service 09/21/1 8-9/21/1 8	684882	$63.20

Seco Energy
Account #20 11 976001 8/21/18 - 9/20/1 8		$35 . 37		
Account #201 1 438701 8/21/18 - 9/20/1 8		$34 . 09		
Account #201 1 362101 8/21 /1 8 - 9/20/1 8		$34. 32		
Account #201 1 329201 8/21/18 - 9/20/1 8		$173. 73		
Account #201 1 322701 8/21/18 - 9/20/1 8		$561 .50		
Account #201 1162501 8/21 /18 - 9/20/1 8		$47.30		
		
$4, 1 59.68	
$0.00	
	TOTAL	$4,159.68		

Secretary	Chairman

WYLD PALMS
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T 

Payment Authorization No. 131
1 0/23/201 8
Item	Payee	Invoice	General	Capital
No.	Billing #	Fund	Projects
Century Link 
Account #3 1 22301 89 - Service October 1 - October 31	$1 43.42 
Account #31 1 851 928 ; Service October 16 - November 15	$1 62. 12 

Fishkind & Assoc iates, Inc.
DM Fee & Reimbursement October 201 8	23622	$91 8.34
DEO
FY 201 8/2019 Special District Fee	72625	$1 75.00

Grau and Assoc iates
Audit 9/30/2017	1 7298	$4, 500. 00

Sch labach Secu rity and Sound 
Monthly Monitoring Fee November 2018	5931 0	$58.00 

$5, 956. 88	$0.00

TOTAL	$5,956.88

Secretary	Chairman

WYLD PALMS
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 1 32
1 1 /20/20 18 		
Item No.	Payee	Invoice Billing #	General
Fund	Capital Projects	
A Clear Water Pool Service Inc.
November pool service	31 438	$568.00
City of Inverness

Account #1 35000 1 001	358470	$230.32	
Account #1 35001 0000	358479	$71 .33	

Account #1 35000 1 000	358469	$9.7 1

Account #1 35001 1 000	358480	$9.71
Account #1 35001 3000	358482	$72.57
Account #1 35001 7000	358486	$24.34
Account #1 350022000	358491	$44.93
Account #1 350023000	358492	$71 . 33
Seco Energy
Account #20 1 11 6250 1 9/20/18 - 1 0/1 9/1 8	$45. 73
Account #201 1 322701 9/20/1 8 - 1 0/1 9/1 8	$536.75
Account #201 1 329201 9/20/1 8 - 1 0/1 9/1 8	$1 66.32
Account #201 1 362 1 01 9/20/1 8 - 1 0/1 9/ 1 8	$32. 60
Account #201 1 438701 9/20/1 8 - 1 0/1 9/ 1 8	$32. 96
Account #201 1 976001 9/20/1 8 - 1 0/1 9/ 1 8	$34.24
Tampa Bay Times
Legal Advertising 1 0/22/1 8 - 1 0/29/1 8	690402	$1 ,495 .70

$3,446.54	$0.00
TOTAL	$3,446.54

Secretary	Chairman

WYLD PALMS
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T 

Payment Authorization No. 1 33
1 1 /28/2018 

t-Y1 1:$	t-Y18 

Item	Payee	Invoice	General	General
No.	Billing #	Fund	Fund 
Century Link 
Account #3 1 2230189 ; Service November 1 - November 30	$143.68
Account #31 1 851 928 ; Service November 16 - December 15	$1 52.87 

Fishkind & Associates, Inc. 
DM Fee & Reimbursement November 201 8	23792	$964.99

Hopping Green & Sams
General Counsel through 09/30/2018	1 03583	$426.50

Schlabach Security and Sound
Monthly Monitoring fee - November 2018	59672	$696 .00

Seco Energy
Account #201 1 322701 1 0/1 9/2018 - 11 /1 9/201 8		$6 16. 94	
Account #201 1 329201 1 0/1 9/2018 - 11 /1 9/2018 		$305.33	
Account #201 1 362101 1 0/1 9/2018 - 11 /1 9/2 01 8		$33. 38	
Account #201 1 438701 1 0/1 9/2018 - 11 /1 9/2018 		$35 . 23	
Account #201 1 162501 1 0/1 9/2018 - 1 1 /1 9/201 8		$48.84	
Account #201 1 976001 1 0/1 9/201 8 - 1 1 /1 9/201 8		$36. 52	
		
$426. 50	$3 , 033. 78	
	TOTAL	$3,460.28	

Secretary	Chairman

WVLD PALMS
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 1 34
1 2/1 3/201 8

t-Y 18	t-Y 19 

Item	Payee	Invoice	General	General
No.	Billing #	Fund	Fund

A Clear Water Pool Service Inc.
Decem ber pool service	31641 	$568.00	
Century Link
Account #31 22301 89 ; Service December 1 - Decem ber 31		
$1 43.68	
City of Inverness
Account #1 350001 000	
363241	
$9.71	
Account #1 350001 001	363242	$299.97	
Account #1 3500 1 0000	36325 1	$71 .33	
Account #1 35001 1 000	363252	$9.71 	
Account #1 3500 1 3000	363254	$72 .57	
Account #1 35001 7000	363258	$24.34	
Account #1 350022000	363263	$44. 93	
Account #1 350023000	363264	$71 .33 	
Florida Municipal Insurance Trust
FY 1 8/1 9 Insu rance - Second billing		
$2,51 8.25	
Florida Pest Control
Pest control services 11 /26/201 8	
857985	
$201 .00	

1

2

3

4

5

Hopping Green & Sams
General counsel thru 1 0/31 /201 8	1 04238	$641 .00
Tampa Bay Times
Finance charge 1 1 /30/201 8	$22.44

$0. 00	$4,698.26
TOTAL	$4,698.26

Secretary	Chairman

WYLD PALMS
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 1 35
1 /3/20 19	t- Y 11:l	t- YHJ 
Item	Payee	Invoice	General	General
No.	Billing #	Fund	Fund
Century Link
Account #31 1 851 928 ; Service December 16 - January 15	$1 52.87
Fishkind & Associates, Inc.
OM Fee & Reimbursables: Decem ber 20 18	23850	$91 1 .83
City of Inverness
Account #1 35000 1 000	367982	$9.71 
Account #1 350001 001	367983	$230.32
Account #1 35001 0000	367992	$71 .33
Account #1 35001 1 000	367993	$9.7 1
Account #1 35001 3000	367995	$72 .57
Account #1 35001 7000	367999	$24.34
Account #1 350022000	368004	$44.93
Account #1 350023000	368005	$71 .33
SECO Energy
Account #201 1 329201 ; Service 1 1 /1 9/201 8 - 1 2/1 9/2018	$1 85.21
Account #201 1 322701 ; Service 11 /1 9/201 8 - 1 2/1 9/201 8	$621 .80
Account #201 1 362 1 01 ; Service 1 1 /1 9/201 8 - 1 2/1 9/201 8	$34.23
Account #20 1 1 1 62501 ; Service 1 1 /1 9/2018 - 1 2/1 9/20 18	$47.30
Account #201 1 438701 ; Service 1 1 /1 9/201 8 - 1 2/1 9/201 8	$34.09
Account #201 1 976001 ; Service 1 1 /1 9/201 8 - 1 2/1 9/20 18	$35.48

$0.00	$2, 557.05
TOTAL	$2,557.05

Secretary	Chairman

WYLD PALMS
COD

Payment Authorization No. 1 36
1/14/2019 
Item	Payee
No.
All About Gates
Gear Box Repair
Century Link 
Acct#31 22301 89;  Service:  Jan 201 9
Hopping Green & Sams
Services Through November 2018 

Secretary

t- Y1�	t- Y H:I
Invoice	General	Capital
Billing #	Fund	Projects

690	$1 35.00

$1 43 .64

1 04660	$1 88 . 00

$466. 64	$0 .00
TOTAL	$466.64

Chairman

WYLD PALMS
COD

Payment Authorization No. 1 37
1 /30/20 19 
item	Payee
No.

rYHJ	rY Hl 
Invoice	General	Capital
Billing #	Fund	Projects

1	A Clear Water Pool Service Inc.		
	January Pool Service	31814 	$568.00	
	February Pool Service	31993	$568.00	

Century Link
Acct#31 1 851 928; Service: January 16 - February 15 

Fishkind & Associates, Inc.
OM Fee & Reimbursables: January 2019 

SECO Energy

$1 52.81

24093	$926.48

Account #201 1 329201 ; Service 1 2/1 9/201 8 - 01/1 8/201 9		$1 87 .78		
Account #201 1 322701 : Service 1 2/1 9/2018 - 01 /1 8/201 9		$629 .59		
Account #201 1 362101 : Service 1 2/1 9/201 8 - 01/1 8/201 9		$34.09		
Account #201 11 62501 : Service 1 2/1 9/2018 - 01/1 8/201 9		$47. 54		
Account #201 1 438701 : Service 1 2/1 9/201 8 - 01/1 8/201 9		$34. 09		
Account #201 1 976001 : Service 1 2/1 9/201 8 - 01/1 8/201 9		$35. 99		
		$3, 1 84.37	$0.00	
	TOTAL	$3,1 84.37		

Secretary	Chairman

WVLD PALMS
COD

Payment Authorization No. 1 38
2/1 9/2019 
Item	Payee
No.
1	Century Link 
Acct#31 22301 89; Service: February 01 • February 28
4		City of Inverness Account #1 350001 000 Account #1 350001 001 Account #1 35001 0000 Account #1 35001 1 000 Account #1 35001 3000 Account #1 35001 7000 Account #1 350022000 Account #1 350023000
2	Fishkind & Associates, Inc.
OM Fee & Reimbursables: February 2019 

Secretary

t- Y ll:1	t-Y l� 
Invoice	General	Capital
Billing #	Fund	P rojects

$1 43.64

372733	$9.71
372734	$230.32
372743	$7 1 .33
372744	$9. 71 
372746	$72.57
372750	$24.34
372755	$44.93
372756	$7 1 .33

24269	$1 ,071 .23

$1 ,749.1 1	$0.00
TOTAL	$1 ,749.1 1

Chairman

WYLD PALMS CDD

Payment Authorization No. 1 39
3/1 /20 19 
Item	Payee
No.

A Clear Water Pool Service Inc.
March pool service
Century Link 
Account #31 1 851 92 8 ; Service February 16 - Ma rch 15 

t- Y1 !:J	t- Y rn 
Invoice	General	Capital
Billing #	Fund	Projects

321 67	$568.00

$1 53.95

3	Florida Pest Control
Pest Control Term ite Protection	
8-022782	
$235.00 		
	Pest Control Termite Protection	8-022783	$384. 00 		
4	Grau & Associates
Confirmation.com/January		
$46 .00		
5	Hopping Green & Sams
General Counsel through 01 /3 1 /201 9	
1 05622	
$266.50		
			
$1 ,653.45	
$0 . 00	
		TOTAL	$1 ,653.45		

Secretary	Chairman

WYLD PALMS COD

Payment Authorization No. 140
3/5/2019 
Item	Payee
No.
City of Inverness Account #1 350001 000 Account #1 350001 001 Account #1 35001 0000 Account #1 35001 1 000 Account #1 35001 3000 Account #1 35001 7000 Account #1 350022000 Account #1 350023000
Tampa Bay Times
Legal Advertising 02/24/1 9

Secretary

t- Y1Y	t- Yl Y
Invoice	General	Capital
Billing #	Fund	Projects

377494	$9.71 
377495	$230.32
377504	$7 1 .33
377505	$9.7 1
377507	$72.57
37751 1	$24.34
37751 6	$44.93
37751 7	$7 1 .33

748818	$80 .00

$61 4.24	$0.00
TOTAL	$61 4.24

Chairman

Wyld Palms Community Development District

Payment Authorization No. 141

WYLD PALMS CDD

Payment Authorization No. 141
3/1 4/201 9
Item	Payee
No.

Century Link 
Account #3122301 89 ; Service March 01 - March 31 

Florida Municipal Insurance Trust
FY1 8/19 Insurance - Third billing

Florida Pest Control
Pest control services 02/25/2019 

Secretary

t-Y1 !:l	I-Y1 !:J
Invoice	General	Capital
Billing #	Fund	Projects

$148.28

$2,51 8.25

862908	$201 .00

$2 ,867. 53	$0 .00

TOTAL	$2,867.53

Chairman

Wyld Palms Community Development District

District's Financial Position and Budget to Actual YTD

Wyld Palms coo Statement of Activities As of 02/28/2019 

Revenues
Other Income & other Financing Sources Other Income & Other Financing Sources
Total Revenues Expenses

General Fund

-$	35,520.00

$ 35,520.00

Special	Debt Service	Debt Service Fund , Purpose Entity		Fund -A		B

$	121 ,336.93
$	121 ,336.93	$	s

Construction	General Fixed	Long Term Bond	Total Fund		Asseis		Debt

$	35,520,00
$	121 ,336.93
$	s	$	$	156,856.93

Dis1ric:1 Counsel Total Expenses

$ 24 .792.92

$	11 6,546.27	$	159 ,039.92	$	270.495.00

Page 1

$	10,472 .00	s	10,472.00

Management	$	4,166.65		$	4,166.65	
Distrlc:1 Counsel	829.00		829.00	
Telephone	7.66		7.66	
Postage & Shipping	93.06		93.06	
LegaJ Actvertlsing	1,518.14 		1 ,518,1 4	
Miscellaneous	1 50.50		1 50.50	
Web Site Maintenance	375.00		375.00	
Dues, Licenses, and Fees	1 75.00		1 75.00	
Security	638 .00		638.00	
Electric	4,891 .22		4,891 .22	
Water-Sewer	2,245.31		2,245.31	
Telephone, DSL, Cable · Clubhouse	1 ,490.88		1 .490.88	
General Insurance	5,036,50		5,036,50	
Common Area Maintenance	135,00		135.00	
Pest Control	201 .00		201 ,00	
Swimming Pools	2,840,00		2,840.00	
Management		$	4,000.00	$	4,000.00	
District Counsel		985,38	985,36	
Postage & Shipping		1.62	1.62	
Bank Fees		38.00	38 ,00	
Property Taxes		1 09.464,43	109,464.43	
Dues, Licenses. and Fees		624.00	62<1.00	
Water-Sewer		1 ,432.84	1 ,432.84	
Interest Payments	$	1 59,039.92		s	159,039,92	
Dlsttict C01,1nse1		$	9,405.00	$	9,405.00	
Interest Payments				261 ,090.00		26 1,090.00	

$	10,472.00	$	$	$	581 ,346. 1 1

Wyld Palms COD Statement of Activities As of 02/28/201 9

General Fund	Special	Oebt Service

Debt Service Fund •	Con1tnlctlon

General Fixed

Long Term Bond

Total

Other Revenues (Epnses} & G•lns (Losses) Interest Income
Net Increase (Decrease) In FV of Inv Interest Income
Net Increase (Decrease) In FV or Inv
Interest Income
Net Increase (Decrease) In FV or Inv

Pu rpo.-. Entity

Fund -A 

$	47. 10 
0.09
$

B	Fund

26,89
(1 5.53)
$	1 ,532. 12 
41.15 

Assets

Debt

$	47. 10 
0,09
$	26,89

$	1,532. 12 
41 .15 

Total Other Revenues (Elcpenses) & Gains (Losses)

$	$	$	47. 19	$

11 .36	$	1 ,573.27

$	- # $

$	1 ,63 1 .82

Change In Net Assets	$	10,727.08	$	4,790.66	$	( 1 58,992.73)	$	(270,483.64)	$	(8,898 .73)	$	$	
Net Assets At Beginning Of Year	$	22,237.35	$ 2,505,1 75.92	$ (4,074,620.52)	$ ( 14.097,255.99)	$	241 ,450.77	$ 11 ,933,735.14 		

Net Aneta At End Of Year	s	
32,964.43	
$ 2,509,966.58	$ (4,233,613.25)	$ (14.367,739.63)	s	
232.552.�	
$ 11 ,933,735.14 	$	-	

$	(422,857.36)

$    (3,469,277. 33)

$ (3,892,1 34.69)

Page 2

Wyld Palms COD Statement of Financial Position
As of 02/28/201 9

Current Assets

General Fund

Special Revenue	Debt Service	Debt Service Fund Purpose Entity		Fund -A		8
�

Construction	General Fixed	Long Term Bond	Total Fund		Assets		Debt

General Checking Account	$	15,420.93					$	15,420.93	
Due From Other Funds	17.427.50					17,427.50	
Prepaid E,penses	11 6.00					11 6.00	
General Checking Account		$	22,927.08				$	22,927,08	
Debt Service Reserve Bond			$	0.04			$	0,04	
Revenue Bond
Debt Service Reserve Bond			94.88	$	1 .879.13 		94,88
s	1 ,879.13 	
Revenue Bond				0.73		0.73	
Interest Bond				0.01		0,01	
Ac:qul$1ijon/Construction Bond					$ 228,440.84	$	228,440.84	
Deferred Cost Bond					4,111.20	4,111.20	
TolaI Current Assets	$	32,964.43	$	22,927.08	$	94.92	$	1 ,879.87	$ 232,552.04	$	$	$	290,41 8.34	

Investments
Amount Available in Debt Service Funds	$	1 ,974,79	$	1 ,974.79	
Amount To Be Provided	5, 198,025.21	5,1 98,025.2 1	
Total lnveslments	$	s	$	$	$	$	$ 5,200,000.00	$	5,200,000.00	

P!!!I!!� �lant & !;guieme!lt				
Fixed Assets - Land	$ 2,504,467.00		$	2,504,467.00	
Other Fixed Assets (2007)							$	8,987 ,265.00		$	8,987,265.00	
Other Fixed Assets (2008)							1 .750,692.00		1,750,692.00	
Other Fixed Assets (2009)
Total Property, Plant & Equipment	$		s	2,504,467.00	$	
$	$	1 ,195,778. 14 
$	11 ,933,735. 14 	
$	1, 195.778.14
$	14 ,438,202.14 	
Total Asaets	s	
32,964,43	s	
2,527,394.08	s	94.92	s	1,879.87	
$ 232,552.04	
$	11 ,933,735. H	s 5,200,000.00	
$	19,928,620.48	

Current Llabllltles

Accrued Expenses Payable		s	159,087.50		$	1 59 ,087.50	
Due to Bondholders			4,07<1,620.67		'4 ,074,620.67	
Accrued Expenses Payable				$	26 1 ,090.00	$	261 ,090.00	
Due to Bondholders				1◄,108,529.50	14,1 08,529.50	
Total Current Liabilities	$	$	17,427.50	$	4,233,708.17 	$ 14,369,6 1 9,50	$	$	$	$	18,620,755.17	

Due to Other Funds

$	17 ,427.50

Ljabllillas and Net Assets

$	17 ,427.50

Page 1

Wyld Palms COD Statement of Financial Position
As of 02/28/2019 

Lona nn n Liabilities
Revenue Bonds Payable - Long-Tenn

General Fund

Special Revenue Purpose Entity

Debt Service Fund -A 

Debt Service Fund •	Construction B		Fund

General Filled Ane!S

Long Tenn Bond Debt

S 5,200,000.00

Total

-$--5-,200-,00-0-.00

Total Long Term Uablllfies

$	$	$	s

$	$	$  5,200,000,00	$	5,200,000.00

Total Liabilities

Net Assets
Net Assets, Unrestricted
Net Ass�eneral Govemmenl Current Year Net Assets - General
Net Assets, 270
Current Year Net Assets, 270
Net Assets - General Government
Current Year Net Assets - General Government

$

$   490,502.10
(468,264.75)
1 0,727.08

$	17,427.50	$   4,233,708.17	$   14 ,369,61 9.50	$	$

$  3,007 ,557.91 
11 4,255.09
(502,381 .99)
( 109,464.43)

$  5,200,000.00	$	23,820,755.17

$	490,502.10 
(468,264.75)
10,727.08
$	3,007,557.91
11 4,255.09
(502,381 .99)
(109,464.43)

Net Assets, Unrestricted	s (4,074,620.52)				$	(4,074,620.52)	
Current Year Net Assets, Unrestricted	(1 58,992.73)				(158,992.73)	
Net Asset.s, Urv-estricted		s (14,097,255.99)			$ (14,097,255,99)	
Curren! Year Net Assets. Unrestricted		(270,483.64)			(270,483.64)	
Net Assets, Unrestricted			$ (20,562.82)		$	(20,562.82)	
Net Asse1s, Unrestricted			(1 55,61 6.46)		(155,616.-46)	
Current Year Net Assets, Unrestricted			(8,898.73)		(8,898.73)	
Net Assets - General Government			417,630.05		417,630.05	

Net Assets, lnvd in Capital, Net of Debi Total Net Assets

Total liabllitlH and Net Assets

$	32,964.43

$	32,964.43

$
$   2,509,966.58	s (4,233,613.25)	s (14,367,739.63)	$   232,552.04	s
$    2,527,394.08	$	94.92	$	1,879.87	s  232,552.04	$

Page 2

11 ,933 ,735. 14 
11 ,933,735. 14 

11 ,933,735. 14 

$	11 ,933,735. 14 
$	s	(3,892.1 34.69)

$   5,200,000.00	$	19,928.620,48

Wyld Palms COD
Budget to Actual
For the Month Ending 02/28/2019 

Revenues

Year To Date
Actual	Budget	Variance	FY 2019 
Adopted Budget

Other Income & Other Financing Sources	$	35,520 .00	$	29,045.85	$	6,474. 15 	$	69,71 0.00	
Net Revenues	$	35,520.00	$	29,045.85	$	6,474.1 5	$	69,71 0.00	
General & Administrative Exeenses
Supervisor Fees	$	$	1 ,333.35	$	( 1 ,333.35)	$	3,200.00

Dissemination Agent		416.65	(416.65)	1 ,000.00	
District Counsel	829.00	3,333.35	(2,504.35)	8,000.00	
Audit		1 ,750.00	( 1 ,750 .00)	4, 200.00	
Travel and Per Diem		1 66.65	( 1 66,65)	400,00	
Telephone	7.66	20.85	( 1 3.1 9)	50.00	
Postage & Shipping	93.06	50.00	43.06	1 20.00	
Copies		52. 10 	(52. 1 0)	1 25.00	
Legal Advertising	1 ,518. 14 	375.00	1 , 1 43. 14 	900.00	
Miscellaneous	150.50	156.30	(5.80)	375.00	
Web Site Maintenance	375.00	375.00		900.00	
Dues, Licenses, and Fees	1 75.00	72. 90	1 02. 10 	1 75.00	
General Insurance	5,036.50	4, 1 66.65	869.85	1 0,000.00	
Total General & Ad ministrative	$	1 2,351 .51 	$	16,435.45	$	(4,083.94)	$	39,445.00	
Field Exeenses					
Security	$	638,00	$	297. 90	$	340. 10 	$	715. 00	
Electric	4,89 1 .22	2,708.35	2, 182.87	6, 500.00	
Gas		41 .65	(4 1 .65)	1 00.00	
Water, Sewer (City of Inverness)	2 ,245.31	3,1 25.00	(879.69)	7, 500.00	
Telephone,OSL,Cable- (Clubhouse}	1 ,490.88	1 ,375.00	11 5.88	3, 300.00	
Common Area Maintenance	135.00	1 ,250.00	(1 , 1 1 5.00)	3,000.00	
Pest Control	201 .00	812. 50	(61 1 .50)	1, 950.00	
Swimming Pools	2 ,840.00	3,000.00	( 160.00)	7,200.00	
Total Field Expenses	$	12,441 .41	$	12,61 0.40	s	(1 68.99)	$	30,265.00	

Total Expenses	s	24.792.92	$	29.045.85	s	{4.252.93)	$	69?1 0.00	
Net Income (Loss)	$	10,727. 08	$	$	1 0,727. 08	$	

Management	4,1 66.65	4, 1 66.65	10,000.00

Expenses