NatureWalk Community Development District

Financial Statements (Unaudited)

March 31, 2018

Prepared by: Rizzetta & Company, Inc.

naturewalkcdd.org rizzetta.com

NatureWalk Community Development District
Balance Sheet As of 3/31/2018
(In Whole Numbers)

	
General Fund		
Debt Service Fund		
Capital Projects Fund		Total Governmental Funds		General Fixed Assets Account Group		General Long-Term Debt Account Group	

Assets
Cash In Bank	

339,355		

0		

0		

339,355		

0		

0	
Investments	10		750,996		998,576		1,749,582		0		0	
Accounts Receivable	201,593		7,713,356		0		7,914,949		0		0	
Bond Prepayments Receivable	0		0		0		0		0		0	
Allowance for Doubtful Accounts	(83,092)		(7,210,299)		(20,243)		(7,313,634)		0		0	
Accounts Receivable - Other	0		0		20,243		20,243		0		0	
Prepaid Expenses	0		0		0		0		0		0	
Deposits	1,540		0		0		1,540		0		0	
Due From Other Funds	0		176		0		176		0		0	
Amount Available in Debt Service	0		0		0		0		0		0	
Amount To Be Provided Debt Service	0		0		0		0		0		13,445,000	
Fixed Assets	0		0		0		0		15,801,089		0	
Total Assets	 	459,406 		 	1,254,229 		 	998,576 		 	2,712,211 		 	15,801,089 		 	13,445,000 	

Liabilities												
Accounts Payable	2,298		0		0		2,298		0		0	
Accrued Expenses Payable	6,182		0		0		6,182		0		0	
Retainage Payable	0		0		97,184		97,184		0		0	
Other Current Liabilities	0		0		0		0		0		0	
Deferred Revenue	0		0		0		0		0		0	
Due To Other Funds	176		0		0		176		0		0	
Debt Service Obligations - Current	0		9,345,529		0		9,345,529		0		0	
Revenue Bonds Payable--Long Term	0		0		0		0		0		13,445,000	
Total Liabilities	8,656		9,345,529		97,184		9,451,369		0		13,445,000	
Fund Equity & Other Credits Beginning Fund Balance	

265,273		

(8,101,112)		

1,809,479		

(6,026,360)		

15,801,089		

0	
Net Change in Fund Balance	185,476		9,812		(908,087)		(712,798)		0		0	
Total Fund Equity & Other Credits	450,750		(8,091,300)		901,392		(6,739,158)		15,801,089		0	

Total Liabilities & Fund Equity	 	459,406	 	1,254,229	 	998,576	 	2,712,211	 	15,801,089	 	13,445,000 

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	0	0	0.00%	
Special Assessments						
Tax Roll	231,239	231,239	232,913	1,673	(0.72)%	
Off Roll	 	70,711 	 	70,711 	 	70,711 	 	0 	 	0.00%	
Total Revenues	 	301,950 	 	301,950 	 	303,623 	 	1,673 	 	(0.55)%	

Expenditures
Legislative
Supervisor Fees	9,600	4,800	800	4,000	91.66%	
Financial & Administrative						
Administrative Services	4,500	2,250	2,250	0	50.00%	
District Management	14,700	7,350	7,350	0	50.00%	
District Engineer	2,500	1,250	260	990	89.60%	
Disclosure Report	5,000	5,000	5,000	0	0.00%	
Trustees Fees	7,000	7,000	0	7,000	100.00%	
Financial & Revenue Collections	8,600	6,800	6,800	0	20.93%	
Accounting Services	14,000	7,000	7,000	0	49.99%	
Auditing Services	3,170	0	0	0	100.00%	
Arbitrage Rebate Calculation	600	600	0	600	100.00%	
Public Officials Liability Insurance	3,000	3,000	2,250	750	25.00%	
Legal Advertising	2,000	1,000	165	835	91.73%	
Dues, Licenses & Fees	175	175	175	0	0.00%	
Website Hosting, Maintenance, Backup	2,475	1,238	1,050	188	57.57%	
Legal Counsel						
District Counsel	20,000	10,000	2,678	7,323	86.61%	
Electric Utility Services						
Utility Services	14,000	7,000	6,414	586	54.18%	
Stormwater Control						
Aquatic Maintenance	3,600	1,800	1,740	60	51.66%	
Wetland Monitoring & Maintenance	1,000	500	0	500	100.00%	
Stormwater System Maintenance	3,000	1,500	854	647	71.55%	
Aquatic Plant Replacement	1,430	715	0	715	100.00%	
Other Physical Environment						
General Liability Insurance	4,000	4,000	2,500	1,500	37.50%	
Property Insurance	3,000	3,000	704	2,296	76.53%	
Landscape Maintenance	77,000	38,500	36,149	2,351	53.05%	
Irrigation Repairs	5,000	2,500	2,248	252	55.04%	
Ornamental Lighting & Maintenance	1,000	500	0	500	100.00%	
Well Maintenance	500	250	0	250	100.00%	
Tree Triming Services	1,500	750	0	750	100.00%	
Annual Mulching	57,000	28,500	16,635	11,865	70.81%	
Landscape Replacement Plants, Shrubs, Trees	2,000	1,000	1,595	(595)	20.25%	
Miscellaneous Expense/Rust Prevention	5,000	2,500	2,995	(495)	40.10%	
Road & Street Facilities						

Street Light Decorative Light Maintenance	3,000	1,500	1,819	(319)	39.36%	
Street Sign Repair & Replacement	500	250	790	(540)	(58.00)%	
Sidewalk Repair & Maintenance	1,100	550	0	550	100.00%	
Roadway Repair & Maintenance	1,000	500	0	500	100.00%	
Parks & Recreation						
Boardwalk & Bridge Maintenance	 	20,000 		 	10,000 		 	7,927 		 	2,073 		 	60.36%	
Total Expenditures	 	301,950 		 	163,278 		 	118,147 		 	45,130 		 	60.87%	
Excess of Revenue Over (Under) Expenditures	0		138,672		185,476		46,804		0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
138,672		
185,476		
46,804		
0.00%	

Fund Balance, Beginning of Period										
	0		0		265,273		265,273		0.00%	
Fund Balance, End of Period	 	0 		 	138,672 		 	450,750 		 	312,077 		 	0.00%	

Interest Earnings	0		2,780		2,780		0.00%	
Special Assessments								
Tax Roll	70,925		70,373		(552)		(0.77)%	
Off Roll	338,620		338,620		0		0.00%	
Total Revenues	409,545		411,773		2,228		0.54%	

Expenditures
Financial & Administrative
Trustees Fees	0	11,440	(11,440)	0.00% Legal Counsel
Trustee Counsel	0		3,496		(3,496)		0.00%	
Debt Service								
Interest	274,545		361,843		(87,298)		(31.79)%	
Principal	135,000		0		135,000		100.00%	
Total Expenditures	409,545		376,779		32,767		8.00%	

Excess of Revenue Over (Under) Expenditures	
0		
34,994		
34,994		
0.00%	

Other Financing Sources (Uses)								
Interfund Transfer	0		(907)		(907)		0.00%	
SPE Costs	0		(24,275)		(24,275)		0.00%	
Total Other Financing Sources (Uses)	0		(25,182)		(25,182)		0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
9,812		
9,812		
0.00%	

Fund Balance, Beginning of Period								
	0		(8,101,112)		(8,101,112)		0.00%	
Fund Balance, End of Period	 	0 		 	(8,091,300)		 	(8,091,300)		 	0.00%	

Interest Earnings	0		6,420		6,420		0.00%	
Total Revenues	0		6,420		6,420		0.00%	

Expenditures
Other Physical Environment								
Improvements Other Than Buildings	0		915,413		(915,413)		0.00%	
Total Expenditures	0		915,413		(915,413)		0.00%	

Excess of Revenue Over (Under) Expenditures	
0		
(908,993)		
(908,993)		
0.00%	

Other Financing Sources (Uses)								
Interfund Transfer	0		907		907		0.00%	
Excess of Rev./Other Sources Over (Under) Expend./Other Uses	0		(908,087)		(908,087)		0.00%	

Fund Balance, Beginning of Period								
	0		1,809,479		1,809,479		0.00%	
Fund Balance, End of Period	 	0 		 	901,392 		 	901,392 		 	0.00%	

NatureWalk CDD Investment Summary March 31, 2018

	Balance as of		
Account

State Board of Administration	Investment

Local Government Investment Pool	March 31, 2018

$	

10	

Total General Fund Investments      $	10 

US Bank Series 2007A Interest	Fidelity Government Port Cl III	$	3
US Bank Series 2007B Interest	Fidelity Government Port Cl III	3
US Bank Series 2007A Reserve	Fidelity Government Port Cl III	170,803
US Bank Series 2007B Reserve	Fidelity Government Port Cl III	59,323
US Bank Series 2007A Prepayment	Fidelity Government Port Cl III	231,382
US Bank Series 2007AB Revenue	Fidelity Government Port Cl III	289,482

Total Debt Service Fund Investments     $	750,996 

US Bank Series 2007AB Construction	Fidelity Government Port Cl III	$	998,556
US Bank Series 2007AB KLP Contribution	Fidelity Government Port Cl III	20
Total Capital Project Fund Investments     $	998,576 

Summary A/R Ledger 001 - General Fund
From 3/1/2018 Through 3/31/2018

Invoice Date	Customer Name	Invoice Number	Current Balance

9/30/2015	New NatureWalk, LLC	ORA2009NW.NWD	83,092.16	
10/1/2017	Tax Collector - Walton County	FY 17-18	83,145.38	
11/11/2017	KLP Destin, LLC	321-18-01	35,355.27	
		
Total 001 - General Fund	
201,592.81	

Summary A/R Ledger 200 - Debt Service Fund
From 3/1/2018 Through 3/31/2018

Invoice Date	Customer Name	Invoice Number	Current Balance

11/25/2014	New NatureWalk, LLC	321-15-02	430,930.02	
9/30/2015	New NatureWalk, LLC	321-11-03	449,475.58	
9/30/2015	New NatureWalk, LLC	321-12-02	449,475.58	
9/30/2015	New NatureWalk, LLC	321-13-02R	430,928.68	
9/30/2015	New NatureWalk, LLC	321-14-02	430,928.68	
9/30/2015	New NatureWalk, LLC	ORA2009NW.NWD	451,554.49	
11/16/2015	New NatureWalk, LLC	321-16-02	205,750.40	
11/16/2015	New NatureWalk, LLC	321-16-03	4,361,255.34	
10/1/2016	New NatureWalk, LLC	321-17-02	205,750.40	
10/1/2017	Tax Collector - Walton County	FY 17-18	25,121.93	
11/11/2017	KLP Destin, LLC	321-18-01	66,434.81	
11/11/2017	New NatureWalk, LLC	321-18-02	205,750.40	
		
Total 200 - Debt Service Fund	
7,713,356.31	

Report Balance	7,914,949.12

Aged Payables by Invoice Date Aging Date - 3/1/2018
001 - General Fund
From 3/1/2018 Through 3/31/2018

Vendor Name		Invoice Date		Invoice Number		Invoice		Current Balance	

CHELCO		
4/2/2018		
Electric Summary 03/18		
CHELCO Electric Summary 03/18		
1,039.69	
Hopping Green & Sams		4/10/2018		99824		General Legal Counsel 03/18		1,258.50	
						
Total 001 - General Fund		
2,298.19	

Report Total								
2,298.19	

Inflows:	Debt Proceeds - Series A & B	$	16,735,569.81		
	Underwriter Discount	400,000.00		
	Total Bond Proceeds:	17,135,569.81		
	Interest Earnings	172,169.89		
	KLP Construction	250,000.00		
	Sale of Construction Materials	3,000.00		
	Due from New NatureWalk, LLC	20,243.35		
	Record Allowance for Doubtful Accounts	(20,243.35)		
	Transfer from Cap I	32,987.35		
	Transfer from Reserves	5,647.86		
	Transfer from Prepayment B	3,336.99		
	Transfer from Sinking	55.96		
	Total Inflows:	  $	17,602,767.86 		
Outflows:				
Requisition	Requisition	Contractor	Amount	Status With Trustee	
Date	Number		as of 03/31/18	
03/12/07	COI	Underwriters Discount	$	(400,000.00)	Cleared	
03/12/07	COI	Nabors Giblin & Nickerson	(45,000.00)	Cleared	
03/12/07	COI	Holland & Knight	(5,250.00)	Cleared	
03/12/07	COI	Prager, Sealy & Co	(5,000.00)	Cleared	
03/12/07	COI	Rizzetta & Company, Inc.	(30,000.00)	Cleared	
03/12/07	COI	Rizzetta & Company, Inc.	(5,000.00)	Cleared	
03/12/07	COI	Hopping Green & Sams	(12,460.01)	Cleared	
05/06/07	COI	Hopping Green & Sams-Overpayment	3,886.11	Cleared	
03/12/07	COI	NatureWalk CDD	(13,425.49)	Cleared	
04/09/07	COI	Image Masters	(4,662.87)	Cleared	
04/18/07	4	Rizzetta & Co., Inc.	(3,500.00)	Cleared	
04/18/07	5	Rizzetta & Co., Inc.	(3,500.00)	Cleared	
06/15/07	COI	US Bank - Trustee Fees 3/07 to 2/08	(7,948.00)	Cleared	
08/14/07	COI	Nabors Giblin & Nickerson	(2,705.55)	Cleared	
	Total Cost of Issuance:	(534,565.81)		
03/14/07	1	NatureWalk Development Company, LLC	(13,305,760.19)	Cleared	
04/03/07	2	NatureWalk Development Company, LLC	(909,366.29)	Cleared	
04/18/07	3	Hopping Green & Sams	(374.00)	Cleared	
05/21/07	6	Hopping Green & Sams	(3,510.64)	Cleared	
06/18/07	7	Hopping Green & Sams	(472.50)	Cleared	
08/27/07	8	Hopping Green & Sams	(297.50)	Cleared	
09/17/07	9	Hopping Green & Sams	(966.25)	Cleared	
12/14/07	10	Hopping Green & Sams	(198.00)	Cleared	
01/14/08	11	Hopping Green & Sams	(1,072.75)	Cleared	
01/23/08	12	Hatch Mott MacDonald	(18,757.84)	Cleared	
02/20/08	13	Hopping Green & Sams	(2,431.87)	Cleared	
03/14/08	14	Hopping Green & Sams	(849.68)	Cleared	
04/16/08	15	Hopping Green & Sams	(2,715.91)	Cleared	
05/02/08	16	NatureWalk Community Development District	(4,566.60)	Cleared	

05/17/08	17	Hopping Green & Sams	(1,135.81)	Cleared	
06/18/08	18	Hopping Green & Sams	(1,601.49)	Cleared	
07/22/08	19	Hopping Green & Sams	(320.50)	Cleared	
07/28/08	20	Hopping Green & Sams	(751.07)	Cleared	
09/03/08	21	Hatch Mott MacDonald	(3,974.47)	Cleared	
10/13/08	22	Hopping Green & Sams	(1,572.22)	Cleared	
02/02/09	22	Hopping Green & Sams - partial refund of CR22	945.00	Cleared	
12/02/08	23	Hopping Green & Sams	(114.00)	Cleared	
02/25/09	24	Hopping Green & Sams	(106.00)	Cleared	
03/18/09	25	Hopping Green & Sams	(114.04)	Cleared	
03/31/09	26	Evergreen Landscaping & Maintenance	(16,527.50)	Cleared	
04/22/09	27	Hopping Green & Sams	(155.00)	Cleared	
06/30/09	28	Evergreen Landscaping & Maintenance	(16,527.50)	Cleared	
11/16/09	29	Hatch Mott MacDonald	(768.00)	Cleared	
03/15/10	30	Hopping Green & Sams	(1,780.50)	Cleared	
03/26/10	31	Hopping Green & Sams	(533.00)	Cleared	
04/13/10	32	Hopping Green & Sams	(41.00)	Cleared	
07/30/10	33	Hatch Mott MacDonald	(6,136.59)	Cleared	
04/26/11	34	Hopping Green & Sams	VOID	VOID	
06/30/11	35	Bridge Builders USA, Inc.	(50,219.49)	Cleared	
06/30/11	36	Emerald Coast Associates, Inc.	(8,070.00)	Cleared	
08/24/11	37	Bridge Builders USA, Inc.	(63,550.00)	Cleared	
10/12/11	38	Greenway Services, Inc.	(10,000.00)	Cleared	
11/29/11	39	Greenway Services, Inc. - paid from KLP Contribution Account	(18,784.55)	Cleared	
12/13/11	40	Hopping Green & Sams	VOID	VOID	
12/31/11	41	Greenway Services, Inc.	(4,199.97)	Cleared	
12/31/11	42	Sikes Concrete, Inc.	(3,594.00)	Cleared	
03/20/12	43	Triangle Construction	(18,575.00)	Cleared	
04/19/12	44	Sikes Concrete, Inc.	(1,462.00)	Cleared	
06/11/12	45	Sikes Concrete, Inc.	(1,670.00)	Cleared	
07/01/12	46	NatureWalk Community Development District	(9,054.88)	Cleared	
06/30/12	47	GreenEarth Landscape Services, LLC	(8,722.84)	Cleared	
07/31/12	48	GreenEarth Landscape Services, LLC	(20,578.27)	Cleared	
08/28/12	49	GreenEarth Landscape Services, LLC	(5,409.00)	Cleared	
12/06/12	50	GreenEarth Landscape Services, LLC	(11,627.00)	Cleared	
01/15/13	51	GreenEarth Landscape Services, LLC	(1,235.00)	Cleared	
08/02/13	53	GreenEarth Landscape Services	(7,225.00)	Cleared	
08/20/13	54	Greenway Services, Inc.	(6,146.94)	Cleared	
09/17/13	55	GreenEarth Landscape Services	(23,075.00)	Cleared	
09/20/13	56	Greenway Services, Inc.	(8,846.94)	Cleared	
10/01/13	57	BoardwalkDesigns	(2,513.35)	Cleared	
10/01/13	58	GreenEarth Landscape Services	(2,300.00)	Cleared	
10/29/13	59	Chelco Services, Inc.	(2,342.90)	Cleared	
11/06/13	60	GreenEarth Landscape Services	(9,020.00)	Cleared	
11/18/13	61	Greenway Services, Inc.	(2,699.52)	Cleared	
12/16/13	62	GreenEarth Landscape Services	(5,950.00)	Cleared	
01/29/14	63	GreenEarth Landscape Services	(20,585.00)	Cleared	

02/13/14	64	GreenEarth Landscape Services		(5,656.00)	Cleared	
03/26/14	65	GreenEarth Landscape Services		(10,945.00)	Cleared	
05/14/14	66	BoardwalkDesigns		(773.50)	Cleared	
05/21/14	67	GreenEarth Landscape Services		(7,042.00)	Cleared	
07/09/14	68	GreenEarth Landscape Services		(5,570.00)	Cleared	
10/13/14	69	GreenEarth Landscape Services		(1,950.00)	Cleared	
09/30/14	70	GreenEarth Landscape Services		(4,329.00)	Cleared	
09/30/14	71	GreenEarth Landscape Services		(2,775.00)	Cleared	
12/11/14	72	GreenEarth Landscape Services		(7,885.00)	Cleared	
05/31/17	73	Hopping Green & Sams		(11,399.58)	Cleared	
06/20/17	74	GAC Contractors		(15,952.50)	Cleared	
06/30/17	75	Hopping Green & Sams		(1,891.00)	Cleared	
07/25/17	76	Greenway Services, Inc.		(18,900.00)	Cleared	
07/25/17	77	Hopping Green & Sams		(1,442.00)	Cleared	
07/31/17	78	Innerlight Engineering Corporation		(6,370.00)	Cleared	
08/22/17	79	Greenway Services, Inc.		(18,900.00)	Cleared	
08/22/17	80	Hopping Green & Sams		(718.50)	Cleared	
08/22/17	81	Kolter Signature Homes LLC		(7,420.00)	Cleared	
09/22/17	82	GAC Contractors		(159,426.00)	Cleared	
09/22/17	83	Greenway Services, Inc.		(24,675.00)	Cleared	
09/22/17	84	Hopping Green & Sams		(481.03)	Cleared	
09/30/17	85	GAC Contractors		(112,410.00)	Cleared	
09/30/17	86	Greenway Services, Inc.		(41,675.00)	Cleared	
10/19/17	87	GreenEarth Landscape Services		(81,308.00)	Cleared	
10/19/17	88	Greenway Services, Inc.		(31,080.00)	Cleared	
11/09/17	89	Cedillos Coastal Painting, Inc.		(3,000.00)	Cleared	
11/09/17	90	GAC Contractors		(92,497.50)	Cleared	
11/09/17	91	Innerlight Engineering Corporation		(3,700.00)	Cleared	
12/13/17	92	GAC Contractors		(261,765.00)	Cleared	
12/13/17	93	The Lake Doctors, Inc.		VOID	VOID	
12/13/17	94	Southland Utility Services, Inc.		(24,177.90)	Cleared	
01/12/18	95	Ferguson Enterprises		(18,804.30)	Cleared	
01/12/18	96	GreenEarth Landscape Services		(42,710.00)	Cleared	
01/31/18	97	Greenway Services, Inc.		(26,208.00)	Cleared	
01/31/18	98	Hopping Green & Sams		(373.50)	Cleared	
02/28/18	99	GAC Contractors		(232,605.00)	Cleared	
			Total Requisitions:	(15,916,825.67)		

06/27/08		US Bank Trustee Fees (3/08 - 2/09)	(5,926.25)	Cleared	
08/19/10		Hines Interests LP - Asset Management Firm Travel/Office Exp	(37,276.27)	Cleared	
11/19/10		Hines Interests LP - Asset Management Firm	(4,450.00)	Cleared	
06/27/11		Transferred to New NatureWalk LLC per Bondholders	(400,000.00)	Cleared	
04/26/13		Transferred from New NatureWalk LLC per Bondholders	379,756.65	Cleared	
06/30/13	52	NatureWalk Community Development District	(84,924.51)	Cleared	
		Retainage Payable:	(97,184.00)		
		Total Outflows:	(16,701,395.86)		

Funds Available in Construction Account at March 31, 2018	 $	901,372.00 

Outstanding Contracts:		
GAC Contractors		302,403.43	
Greenway Services		61,152.00	
	Contract Sub Total:	363,555.43	

*Uncommitted Funds Available  $	510,803.53

* Per the Forbearance Agreement dated 02/25/11 between the District, the Trustee, and the Developer, the District shall have the right to access only $1,960,000 of construction funds for the completion of the 211 Lot and 57 Lot Infrastructure. The Developer, KLP Destin, LLC, agrees to fund all additional amounts necessary to complete the project. The balance of the construction funds available is reflected in Uncommitted Funds Available.

Capital Improvement Revenue - Series 2007 A & B

 KLP Contribution Account Activity Through March 31, 2018	

Inflows:	KLP Contribution	$	205,520.00		
	General Fund FY10-11 Surplus transferred per Budget Amendment	44,480.00		
	From NatureWalk Construction, per terms of Forbearance Amendment	84,924.51		
	Interest Earnings	39.79		
	Total Inflows:	  $	334,964.30 		

Outflows: Requisition	

Requisition	Contractor	

Amount	

Status With Trustee	
Date	Number		as of 03/31/18	

06/15/11	
KLP 1	Chelco	
$	(120,607.88)	
Cleared	
06/15/11	KLP 2	Bridge Builders USA, Inc.	(66,971.90)	Cleared	
07/22/11	KLP 3	Bridge Builders USA, Inc.	(17,952.61)	Cleared	
11/29/11	39	Greenway Services, Inc. - paid from KLP account in error	(18,784.55)	Cleared	
02/29/12	39	Funds transferred from Construction account to replenish	18,784.55	Cleared	
03/31/12	KLP 4	GreenEarth Landscape Services, LLC	(43,609.84)	Cleared	
06/30/13	KLP 5	GreenEarth Landscape Services, LLC	(4,500.00)	Cleared	
07/26/13	KLP 6	KLP Destin, LLC	(64,965.00)	Cleared	
10/29/13	KLP 7	Chelco Services, Inc.	(16,337.06)	Cleared	
Total Requisitions:	(334,944.29)		

Total Outflows:	
(334,944.29)		

Funds Available in KLP Contribution Account at March 31, 2018	
  $	20.01 		

NatureWalk Community Development District Notes to Unaudited Financial Statements March 31, 2018

Balance Sheet

Trust statement activity has been recorded through 03/31/18.
See EMMA (Electronic Municipal Market Access) at https://emma.msrb.org for Municipal Disclosures and Market Data.
Debt Service Obligations - Current, represents scheduled Series 2007 Debt Service payments that were not made for May 2015 - November 2017.

Statement of Revenue and Expenditures – Debt Service Fund

The scheduled Series 2007 Debt Service payments that were not paid have been accrued and are reflected in the accompanying Balance Sheet.

Summary A/R Ledger – Payment Terms

Payment terms for landowner assessments are (a) defined in the FY17-18 Assessment Resolution adopted by the Board of Supervisors, (b) pursuant to Florida Statutes, Chapter 197 for assessments levied via the county tax roll.