Golden Lakes Community Development District REGULAR ... · 07/01/2020 · Golden Lakes Community...

Golden Lakes

Community Development

District

REGULAR MEETING

JANUARY 7, 2020

Agenda Page 1

Golden Lakes

Community Development District

Inframark, Infrastructure Management Services 210 N. University Dr., Suite 702 ~ Coral Springs ~ Florida 33071~ Telephone (954) 603.0033 ~Fax (954) 345-1292

December 27, 2019

Board of Supervisors

Golden Lakes Community

Development District

Dear Board Members:

A regular meeting of the Board of Supervisors of the Golden Lakes Community Development District will be held on

Tuesday January 7, 2020 at 6:00 p.m. at the Club at Eaglebrooke, 1300 Eaglebrooke Boulevard, Lakeland, Florida. The

following is the advance agenda for the meeting:

1. Roll Call

2. Audience Comments on Agenda

3. Approval of the Minutes

A. Minutes of Meeting, November 5, 2019

4. Attorney’s Report

A. Loan Update

5. Engineer’s Report

A. Discussion of Proposed Stormwater Improvement

Contract

6. Property Manager’s Report

7. District Manager’s Report

A. Approval of the Financial Report, November 2019

8. Eaglebrooke Manager’s Report

A. Clubhouse and Golf Club Update

9. Old Business

10. New Business and Supervisors’ Requests

11. AdjournmentI look forward to seeing you at the meeting and in the meantime if you have any questions, please contact me.

Sincerely,

Kristen Suit

Kristen Suit

District Manager

cc: Scott D. Clark JoAnna Likar Steven C. Shealey Ron Wonderling Ryan Robert

Agenda Page 2

Third Order of Business

Agenda Page 3

3A.

Agenda Page 4

MINUTES OF MEETING 1

GOLDEN LAKES 2

COMMUNITY DEVELOPMENT DISTRICT 3

4

A regular meeting of the Board of Supervisors of the Golden Lakes Community 5

Development District was held on Tuesday November 5, 2019 at 6:00 p.m. at the Club at 6

Eaglebrooke, 1300 Eaglebrooke Boulevard, Lakeland, Florida. 7

8

Present and constituting a quorum were: 9

10

Larry Knapp Chairman 11

Anthony Stevens Vice-Chairman 12

Richard Howe Assistant Secretary 13

Alan Lukhaub Assistant Secretary 14

Lithea Beck Assistant Secretary 15

16

Also present were: 17

18

Kristen Suit District Manager 19

Bob Koncar (by phone) District Manager 20

Scott Clark District Counsel 21

Steven Shealey District Engineer 22

Jo Ann Likar Property Manager 23

Ryan Roberts General Manager – Eaglebrooke 24

Alan Baldwin Accounting Manager, Inframark 25

Elizabeth Moore (by phone) Assessment Manager, Inframark 26

Shawn Harrison (by phone) Billy Casper Golf 27

28

The following is a summary of the minutes and actions taken at the November 5, 2019 29

Golden Lakes CDD Board of Supervisors regular meeting. 30

31

FIRST ORDER OF BUSINESS Roll Call 32

• Mr. Knapp called the meeting to order. All Supervisors were present, and a quorum was 33

established. 34

35

SECOND ORDER OF BUSINESS Audience Comments on the agenda 36

• There being none, the next agenda item followed. 37

38

Agenda Page 5

November 5, 2019 Golden Lakes C.D.D.

unapproved 2

SIXTH ORDER OF BUSINESS District Manager’s Report 39

E. Acceptance of Donald Adams Resignation from Seat 4 40

• Ms. Suit requested a motion for the Board to accept the resignation of Mr. Adams. 41

42

ON MOTION by Mr. Howe and seconded by Mr. Lukhaub, with all 43

in favor, the resignation of Donald Adams from Seat 4 was 44

accepted. 4-0 45

46

• Ms. Suit indicated the Board can choose to appoint someone to the vacant seat or post 47

the vacancy on the website. 48

• Mr. Knapp asked they fill the post so that they can continue with five Supervisors. 49

• There are three excellent candidates and the Board felt they can go ahead and appoint 50

one of the three candidates to the Board. 51

• Mr. Howe expressed his opinion about Lithea Beck as a candidate for this seat based 52

upon what she has accomplished in a short period of time on the HOA. 53

• Mr. Stevens agreed with Mr. Howe that this seat has one year to extend, and it will be 54

up for election November 2020 along with Mr. Howe’s seat making it two seats up for 55

election next year. 56

• Mr. Lukhaub concurred with what the other two Board members stated. 57

58

ON MOTION by Mr. Howe and seconded by Mr. Stevens, with all 59

in favor, appointing Ms. Lithea Beck to fill the vacant seat #4 was 60

approved. 4-0 61

62

• Ms. Suit being a Notary Public of the State of Florida administered the Oath of Office to 63

Ms. Beck. 64

65

THIRD ORDER OF BUSINESS Approval of the Minutes 66

A. Minutes of Meeting, August 6, 2019 67

• Mr. Knapp asked if there were any corrections, deletions or changes to the minutes. 68

Corrections were made and will be part of the final record. 69

70

Agenda Page 6


unapproved 3

ON MOTION by Mr. Lukhaub and seconded by Mr. Howe, with all 71

in favor, the minutes of the August 6, 2019 meeting were 72

approved as amended. 5-0 73

74

FOURTH ORDER OF BUSINESS Attorney’s Report 75

A. Update on Proposed Loan Transaction 76

i. Center State Commitment Letter 77

• Mr. Clark stated CenterState presented with a commitment for $3,000,000 proposed 78

funding which is contained within the agenda and being presented for Board 79

consideration. 80

• Mr. Clark noted if the Board wishes to go forward with this, there should be an 81

additional meeting on November 25, 2019. At this meeting, they will look at the 82

Assessment Methodology that has been proposed, look at the two different loan 83

documents and then they will be in the position to close the transaction immediately 84

after that meeting if the Board is ready to move forward. If the Board signs and pre-85

closes immediately after that, the funding would occur the following day. 86

• Mr. Clark has contacted the Districts’ Bond Counsel, Nabors Giblon, who has provided a 87

Bond Counsel proposal for $30,000. 88

• The Board members had questions which Mr. Clark responded to. 89

90

ON MOTION by Mr. Stevens seconded by Mr. Lukhaub with all in 91

favor, authorization for the Chairman, Mr. Knapp, to sign the 92

Commitment Letter from Center State dated October 25, 2019 93

was approved. 5-0 94

95

Discussion ensued regarding Bond Counsel. 96

97

ON MOTION by Mr. Howe seconded by Mr. Lukhaub with all in 98

favor, the Bond Counsel agreement was approved. 5-0 99

100

B. Consideration of Resolution 2020-01, Setting a Public Hearing 101

• Mr. Stevens explained that this public hearing process was originally set by resolution to 102

occur on October 8. Due to some requirements from the bank regarding the audit, we 103

Agenda Page 7


unapproved 4

were unable to move forward on that schedule. Therefore, they are now amending the 104

prior resolution 2019-08 to include moving the scheduled public hearing from October 8 105

to November 25, 2019. 106

107


favor, amending resolution 2019-08 to include re-scheduling the 109

public hearing to November 25, 2019 as indicated in resolution 110

2020-01 was adopted. 5-0 111

112

A. (continued) 113

ii. Assessment Methodology Report 114

• Ms. Suit noted that Ms. Moore and Mr. Koncar are on the phone and are prepared 115

to discuss the Preliminary Assessment Methodology and the summary of the 116

assessment rates which are displayed on the screen. 117

• Ms. Moore noted she prepared a chart to illustrate the breakout of the General 118

Fund Assessment and 2019 loan and to address some of the concerns residents 119

have. 120

• A lengthy discussion ensued on this matter. 121

• Ms. Moore will draft a letter to the residents regarding assessments to include the 122

Excel spreadsheet which was provided at the November 5 meeting, submit to the 123

Supervisors for review and Supervisors will submit comments to Mr. Clark prior to 124

the letter being mailed to residents. 125

126

FIFTH ORDER OF BUSINESS Engineer’s Report 127

• Mr. Shealey discussed a few updates and ongoing activities related to the report 128

presented several weeks ago. 129

• Mr. Shealey heard back from FEMA regarding the grant to eliminate Pond A1. 130

o There are three groups which have to approve the FEMA grant; a project review 131

group, funding group and an environmental group. 132

o Hoping to have an answer tomorrow. 133

o The budget for this is about $49,000. 134

Agenda Page 8


unapproved 5

o If approved, FEMA would pay 75% of the engineering cost and the District would 135

cover the remaining 25%. 136

• Pot holes will be repaired on Friday; one on Osprey Landing Drive and another at the 137

intersection of Eagle Ridge Way and Eagle Ridge Blvd. 138

• Mr. Shealey and Mr. Clark will draft a letter to be sent to the eight homeowners 139

regarding the 15-foot drainage easement they have in their back yard. 140

• Mr. Shealey will continue to watch the new depression that is starting to form on 141

Reflections Lake Loop and will fill the depression on Osprey Landing Drive with more dirt 142

and soil, back fill it and compact it. 143

• He will also begin looking at the storm water work; putting together a list of projects 144

and working with Mr. Clark on preparing contract documents to bid this out. 145

• He stated that for one month they had two contractors maintaining the wet pond in 146

Eaglebooke North. Based on this error, Ms. Suit will now send notices of completed 147

work to Mr. Shealey so he can verify the work has been done. 148

A. Traffic Calming Update 149

• Mr. Shealey updated the Board on his research relating to traffic counts and the 150

installation of speed bumps. 151

• Mr. Clark will pull some speed bump models for the Board to study and discuss at a later 152

date. 153

• Mr. Shealey will ask AAA while they are out on Friday, to fix the pot hole on the 154

Boulevard as you are exiting toward the guard house. Cost not to exceed $2,000. 155

156

SIXTH ORDER OF BUSINESS (continued) District Manager’s Report 157

A. Approval of the Financial Report, September 30, 2019 158

• Ms. Suit presented the financial report to the Board. 159

160

Mr. Stevens moved, seconded by Mr. Howe to approve the 161

financial report for September 2019. 162

163

• Further discussion ensued on this matter. 164

Agenda Page 9


unapproved 6

165

On Voice Vote, with all in favor, the prior motion was approved. 166

B. Motion to Assign Fund Balance as of September 30, 2019 167

• Mr. Alan Baldwin, Accounting Manager, Inframark stated the purpose of assigning 168

reserves on the balance sheet. 169

There being no further comments or questions, 170

171

ON MOTION by Mr. Howe seconded by Mr. Lukhaub with all in 172

favor, to assign fund balance as of September 30, 2019 as 173

presented was approved. 5-0 174

175

C. Acceptance of the FY2018 Financial Audit Report 176

• Ms. Suit noted that Mr. Baldwin provided the Board with a memorandum on Billy 177

Casper Golf and Inframark regarding the findings in the audit. 178

• Mr. Harrison discussed the golf side, stating they reviewed the findings from Ground 179

Associates and implemented several new controls primarily relating to the cash 180

disbursement process. 181

• Further discussion ensued on this issue. 182

• Mr. Baldwin discussed the Inframark side, stating there are two journal entries that have 183

changed for the new audit season coming up; one relating to the reconciliations to the 184

balance sheets and the other is whatever was paid out of the General Fund is now re-185

classed to the Enterprise fund on the golf side. 186

• Mr. Baldwin also noted, the vendors have been asked to send separate invoices; one for 187

general matters and one for golf so expenses can be paid and properly associate those 188

expenses. 189

There being no further questions, 190

191

ON MOTION by Mr. Lukhaub seconded by Mr. Stevens with all in 192

favor, FY2018 Financial Audit Report was accepted. 5-0 193

194

Agenda Page 10


unapproved 7

D. Acceptance of FY2019 Financial Audit Engagement Letter 195

• Discussion ensued and it was decided that the fees are not to exceed $15,000 for the 196

September 2019 Audit. 197

198

ON MOTION by Mr. Stevens seconded by Mr. Howe with all in 199

favor, FY2019 Financial Audit Engagement Letter was accepted. 200

5-0 201

202

SEVENTH ORDER OF BUSINESS Eaglebrooke Manager’s Report 203

A. Clubhouse and Golf Club Update 204

• Mr. Roberts shared a PowerPoint presentation with the Board highlighting the 205

following: 206

o Upgraded the jockey pump and computer at the pump station. 207

o Removed majority of dead trees and stumps throughout the golf course. 208

o Sealed windows along the north side of the building. 209

o Attended bridal show at the RP Funding Center and collected 13 qualified leads. 210

o Created new events for the holiday season; pumpkin carving contest, Christmas 211

karaoke, bringing back breakfast with Santa as well as cookie creation day with 212

the Chef. 213

o New projects being done around the facility include new concrete pad coming 214

down from the 18th fairway and getting quotes to get some new banquet 215

supplies and upgrade some equipment. 216

• Mr. Roberts discussed the year over year comparison. 217

• He also shared the following highlights from the past year: 218

o Completed roughly $38,000 in capital improvement. 219

o Water ice station improvement in front of pro shop. 220

o Replaced air conditioning unit above the trophy room. 221

o Improvements made to the pump station which pressurizes the irrigation system 222

throughout the community. 223

o Completed a debunker project and made significant repairs to drainage on the 224

driving ranges. 225

Agenda Page 11


unapproved 8

o Revenues up across the board. 226

• Further discussion ensued on this matter. 227

• Questions were asked and responses given. 228

229

EIGHTH ORDER OF BUSINESS Property Manager’s Report 230

• Ms. Likar noted she received a complaint from a homeowner who lives on Eagleview 231

Loop regarding debris from the construction going in the pond area. Ms. Likar will go 232

back to the contractor to make them responsible and also establish a monthly fee of not 233

to exceed for a maintenance person to include this area along with the maintenance of 234

the common areas. 235

• Ms. Likar noted that an Eaglebrooke member has offered to replace the roof at the 236

guard house free of charge in return he would have some advertising sign out there 237

saying this roof was installed by. The Board discussed this proposal and felt it was in 238

their best interest to decline the offer. 239

• Ms. Likar comparatively discussed the three quotes received for painting the street 240

lights; one from Express Signs, one from Mike’s Painting and one from Deal Electric. 241

After discussion, it was decided to go with Deal Electric. The proposal includes: 242

o Paint 26 lights; sand down each pole, tape to the glass, pressure wash the pole, 243

lift and completely paint the bases and paint the numbers on each pole. 244

▪ Color is Black, Sher Kem paint. Black should last about four to five years 245

and then begin to fade. 246

o Lift included in the cost. 247

o Install the flag poles. 248

o Work can start next week. 249

250

ON MOTION by Mr. Lukhaub seconded by Mr. Howe with all in 251

favor, Deal Electric proposal for repainting 26 light poles in the 252

amount of $8,320 was approved. 5-0 253

254

• Discussion ensued regarding the flags and flag poles. 255

• 256

Agenda Page 12


unapproved 9

A. Consideration of the Removal of the Fountains 257

• A lengthy discussion ensued about the maintenance fees and esthetics regarding the 258

front of the community. 259

• Ms. Likar reviewed the rendering and the quote, included in the packet, for landscaping 260

the entrance. 261

• Ms. Likar will contact each Board member to arrange a time to go through and look at 262

the landscaping along the Boulevard. 263

• Ms. Likar reviewed the rendering, included in the agenda packet, for a monument sign 264

to replace the Eaglebrooke sign. 265

• Discussion ensued and the Board suggested Ms. Likar get one whole proposal to have 266

everything done; the monument sign, landscaping and fountain work at entrance, 267

landscaping along the Boulevard and all common areas. 268

• Ms. Likar will find out the fees for the landscape architects. 269

• When seeking the landscaping designs, request low maintenance, clean and simple and 270

less is more. 271

• Ms. Likar stated, after speaking with Mr. Roberts, they decided not to rebid the contract 272

for the common areas. Ms. Likar has gone back to FloraLawn to get a quote. The new 273

contract will include an agreement where they contact Ms. Likar after each job. She will 274

do a ride-through with the Superintendent to ensure it meets the District standards 275

before leaving the job. In addition, the new contract will include annuals. Cost of the 276

contract is $7,672. The Board would like to move forward with this. 277

• Ms. Likar was asked to also include in the contract, as part of the common area, a small 278

area, east side Eagleridge Way, north of Eagleridge Loop where the CDD owns that 40-279

foot strip at the back of the homes, right around the structure. 280

• Ms. Likar noted that Mike’s Painting has offered to do the painting of the crosswalks at 281

the Eagleridge Loop at a cost of $550 for each crosswalk. Ms. Likar noted there are two 282

cross walks to do. The Board asked that she just do it. 283

• Mr. Knapp stated during the course of the meeting communication was received from 284

Bond Counsel which needs to be addressed. Bank representatives asked that we 285

Agenda Page 13


unapproved 10

engage a Financial Advisor. Proceeds to be paid out of the loan not to exceed $10,000. 286

Authorize district staff to engage this person. 287

288


favor, authorizing District staff to engage with a Financial Advisor 290

in the amount not to exceed $10,000 was approved. 5-0 291

292

NINTH ORDER OF BUSINESS Old Business 293

• Items not discussed at this meeting. 294

295

TENTH ORDER OF BUSINESS New Business and Supervisors’ Requests 296

• Mr. Knapp stated at the last meeting they decided to install no parking signs in the 297

common areas, towing away, but neglected to work on a procedure. The Board asked 298

Ms. Likar to send out letter to residents in that area stating this area is now a tow away 299

zone and vehicles parked in this area are subject to being towed. The Board will work 300

on the procedure. 301

302

ELEVENTH ORDER OF BUSINESS Adjournment 303

• There being no further business, 304


favor, the meeting was adjourned. 5-0 306

307

308

309

310

_______________________ ______________________________ 311

Secretary Larry Knapp, Chairman 312

Agenda Page 14

Fifth Order of Business

Agenda Page 15

401 Third Street SW

Winter Haven, FL 33880

T: 863-324-1112

F: 863-294-6185

www.pennoni.com

MEMORANDUM

To: Golden Lakes Community Development District Board of Supervisors

From: Steven C. Shealey, PE, District Engineer

Re: January 2020 Engineer’s Report

Date: December 26, 2019

Gentlemen,

The following is an update on ongoing activities and issues related to the District since your last meeting.

1. Pond A1 Permanent Repairs

a. FEMA Grant Update – We have been advised that the Pond A1 repair grant request was

forwarded by the State to FEMA with a recommendation of approval. We followed up with

the State on December 19th but have not yet received a response.

b. On December 3, 2019 I attended the monthly County “Local Mitigation Strategy Working

Group” meeting. Attendance at this monthly meeting is now required to qualify for future

FEMA Hazard Mitigation Grants. The key point from this meeting is that normal repair and

maintenance work performed by the CDD should be reported as ongoing flooding mitigation

efforts and will help to add points to any future Hazard Mitigation Grant Application.

2. Ongoing Work – The status of the ongoing work items shown on the attached map are discussed as

follows:

a. AAA has completed the repair work on the North wet pond outfalls and the entire stormwater

system has been recertified with SWFWMD through December 2024.

b. Since the last meeting we have performed a field inspection of the drainage easement behind

the homes on the East side of Eagle Ridge Way (B) and forwarded our findings to the CDD’s

Attorney. Our report to the Attorney is attached.

c. During my site visit last month with the representative from AAA we noticed a new pothole

forming at the intersection of Eagle Ridge Way and Eagle Ridge Boulevard (C). We have asked

AAA to include this repair as a part of their next group of pavement repairs.

d. The small round pothole (D) on Osprey Landing Drive was overlooked when AAA came out to

perform the other repair on osprey Landing Drive several months ago. It has since been

repaired.

e. We have received additional complaints about a depression behind a stormwater structure

at 421 Osprey Landing Drive (E). We investigated this matter again yesterday and see no sign

that there is any issue with this structure or pipe. Both the structure and pipe were lined less

Agenda Page 16

GLCDD19001 December 26, 2019 Page 2

Board of Supervisors January 2020 Engineers Report

than two years ago. AAA has agreed to bring in some soils to fill in the 6” depression behind

the structure when they come out to perform the other repairs described above.

3. Pavement Reconstruction – As we discussed at the last meeting, we recommend holding off on

starting the resurfacing effort until we complete the worst of the needed drainage repairs.

4. Stormwater Improvements – At the January meeting we will discuss the proposed stormwater

improvements contract and request Board approval to issue it for bid.

5. 7445 Reflections Lake Drive Drainage Complaint – On December 16th JoAnna received a complaint

from the Homeowner at 7445 Reflection Lake Drive (F) that their back yard was soggy and that they

thought there was an issue with the stormwater drainage system. After looking at the storm system

and golf course irrigation system maps, I asked JoAnna to check with Juan to verify that they didn’t

have an irrigation system leak in this area. Juan has dome so and reported that there is no issue with

their irrigation system. I then performed a site visit and have determined that the issue is most likely

a natural groundwater seepage issue combined with poorly drained soils. The wet area is significantly

higher in elevation that the storm inlet at the NW corner of their lot and is well within their yard. We

have no CDD owned drainage systems in that area.

6. During the same site visit as item 5 above we noticed a pothole forming at 6789 Eagle Ridge Blvd

adjacent to the cart crossing (G). We will add this item to the next batch of pavement repairs.

U:\Accounts\GLCDD\GLCDD19001 - 2019 2020 Continuing Services\COMMUNICATION\January 2020 Engineers Report.docx

Agenda Page 17

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Agenda Page 18

Parcel Info

Parcel ID: 242919286039000250

Owner1: ANDERSON LESLIE IRA

Owner2:ANDERSON ALISA GRIMES

Address:6546 EAGLE RIDGE WAY, LAKELAND, 33813-

City/St/Zip: LAKELAND, FL 33813-

Legal Desc:EAGLEBROOKE NORTH PB 134 PGS 11-13 LOT 25

Property (DOR) Use Code:

0100 (SFR up to 2.49 AC)

Acreage: 0.69

Taxing District:

90000 (UNINCORP/SWFWMD)

Sales Information

Date of Sale Q/U Sales Price

05/15/2008 undefined $158,900

06/14/2006 undefined $498,000

05/28/2004 undefined $2,068,800

09/25/2001 undefined $100

12/01/1998 undefined $150,000

02/01/1998 undefined $10

02/01/1998 undefined $100

08/01/1980 undefined $0

01/01/1956 undefined $0

All above information is current (as of

12/05/2019). All below information is 2019

Final.

Value Summary

Value Name Price

Building Value $647,635

Extra Feature Value $16,000

Land Value (Market) $78,000

Just Market Value $741,635

Assessed Value $665,103

Exempt Value $50,000

Taxable Value $615,103

DISCLAIMER: All maps are worksheets used for illustrative purposes only, they are not

surveys. The Polk County Property Appraiser assumes no responsibility for errors in the

information and does not guarantee the data is free from error or inaccuracy. The information is provided "as is."

Page 1 of 1Print Map

12/5/2019https://map.polkpa.org/printMap.aspx

Platted 17' drainage easement along rear lot line for swale,inlets and piping. Shrubs across swale at north end of lot needto be removed. Fence will need to be removed to maintainswale. Swale has been regraded but in ok condition.

Agenda Page 19

Parcel Info

Parcel ID: 242919286039000260

Owner1: ROBINS JULIAN

Owner2: ROBINS SAVITA

Address:6542 EAGLE RIDGE WAY, LAKELAND, 33813

City/St/Zip: LAKELAND, FL 33813



0100 (SFR up to 2.49 AC)

Acreage: 0.38

Taxing District:


Sales Information


04/28/2006 undefined $125,000

05/28/2004 undefined $2,068,800

09/25/2001 undefined $100

12/01/1998 undefined $150,000

02/01/1998 undefined $10

02/01/1998 undefined $100

08/01/1980 undefined $0

01/01/1956 undefined $0



Final.

Value Summary

Value Name Price


Extra Feature Value $0











Platted 17' drainage easementalong rear lot line for swale. Noobstructions and swale in goodshape.

Agenda Page 20

Parcel Info

Parcel ID: 242919286039000270

Owner1: ESTEP ROBERT J

Owner2: ESTEP REBECCA J





0100 (SFR up to 2.49 AC)

Acreage: 0.38

Taxing District:


Sales Information


06/17/2017 undefined $100

10/15/2015 undefined $430,000

01/19/2006 undefined $139,900

05/28/2004 undefined $2,068,800

09/25/2001 undefined $100

12/01/1998 undefined $150,000

02/01/1998 undefined $10

02/01/1998 undefined $100

08/01/1980 undefined $0

01/01/1956 undefined $0

All above information is current (as of 12/05/2019). All below information is 2019

Final.

Value Summary

Value Name Price













Platted 17' drainage easement along rear lot line for swale. Easement heavilyvegetated. Swale unrecognizable. Easement should be cleared of allvegetation and the swale should be restored.

Agenda Page 21

Parcel Info

Parcel ID: 242919286039000280

Owner1: JUSTICE REBECCA





0100 (SFR up to 2.49 AC)

Acreage: 0.38

Taxing District:


Sales Information


03/29/2019 undefined $640,000

07/28/2006 undefined $140,000

07/28/2006 undefined $83,000

05/28/2004 undefined $2,068,800

09/25/2001 undefined $100

12/01/1998 undefined $150,000

02/01/1998 undefined $10

02/01/1998 undefined $100

08/01/1980 undefined $0

01/01/1956 undefined $0


Final.

Value Summary

Value Name Price













Platted 17' drainage easement across rearlot line. Fence across easement will need tobe removed to maintain the swale. Fire pit ineasement. Swale in ok condition - has beenregraded.

Agenda Page 22

Parcel Info

Parcel ID: 242919286039000290

Owner1: DAVIS THOMAS III

Owner2: DAVIS CAROLYN Y





0100 (SFR up to 2.49 AC)

Acreage: 0.38

Taxing District:


Sales Information


08/10/2011 undefined $440,000

05/27/2011 undefined $1,000

01/27/2006 undefined $125,000

05/28/2004 undefined $2,068,800

09/25/2001 undefined $100

12/01/1998 undefined $150,000

02/01/1998 undefined $10

02/01/1998 undefined $100

08/01/1980 undefined $0

01/01/1956 undefined $0


Final.

Value Summary

Value Name Price













Platted 17' drainage easement across rearlot line for swale. Palm trees and shrubsin easement. Swale not well defined - hasbeen regraded.

Agenda Page 23

Parcel Info

Parcel ID: 242919286039000300

Owner1: IZZO JULIO JR

Owner2:IZZO ANA MARIA SONEGO





0100 (SFR up to 2.49 AC)

Acreage: 0.38

Taxing District:


Sales Information


06/29/2009 undefined $446,900

02/12/2009 undefined $87,500

05/28/2004 undefined $2,068,800

09/25/2001 undefined $100

12/01/1998 undefined $150,000

02/01/1998 undefined $10

02/01/1998 undefined $100

08/01/1980 undefined $0

01/01/1956 undefined $0



Final.

Value Summary

Value Name Price













Platted 17' drainage easement across rear lot line. Swale in fair condition. No encroachments other thanfence which will need to be removed to maintain theswale.

Agenda Page 24

Parcel Info

Parcel ID: 242919286039000310

Owner1:CLEMENTE ORTIZ MONICA MARI





0100 (SFR up to 2.49 AC)

Acreage: 0.38

Taxing District:


Sales Information


08/04/2016 undefined $75,000

04/13/2007 undefined $100

02/28/2007 undefined $125,000

05/28/2004 undefined $2,068,800

09/25/2001 undefined $100

12/01/1998 undefined $150,000

02/01/1998 undefined $10

02/01/1998 undefined $100

08/01/1980 undefined $0

01/01/1956 undefined $0



Final.

Value Summary

Value Name Price


Extra Feature Value $0











Platted 17' drainage easement across rearlot line. Swale in good shape. Noobstructions.

Agenda Page 25

Parcel Info

Parcel ID: 242919286039000320

Owner1:6518 EAGLE RIDGE WAY TRUST





0100 (SFR up to 2.49 AC)

Acreage: 0.38

Taxing District:


Sales Information


12/17/2018 undefined $0

11/09/2007 undefined $629,000

01/06/2006 undefined $249,000

05/28/2004 undefined $2,068,800

09/25/2001 undefined $100

12/01/1998 undefined $150,000

02/01/1998 undefined $10

02/01/1998 undefined $100

08/01/1980 undefined $0

01/01/1956 undefined $0



Final.

Value Summary

Value Name Price






Exempt Value $0







Platted 17' drainage easement for swaleacross back lot line. Pine trees in easement,swale appears to have been relocatedoutside of the easement and partially filledin. Trees need to be removed and swalereconstructed.

Agenda Page 26

Parcel Info

Parcel ID: 242919286039000330

Owner1: BLAKE DAVID B

Owner2:BLAKE LYNNAE TAMARA LEIS





0100 (SFR up to 2.49 AC)

Acreage: 0.38

Taxing District:


Sales Information


10/06/2014 undefined $542,500

01/11/2013 undefined $470,000

08/18/2011 undefined $510,000

05/19/2008 undefined $100

04/09/2007 undefined $83,000

05/28/2004 undefined $2,068,800

09/25/2001 undefined $100

12/01/1998 undefined $150,000

02/01/1998 undefined $10

02/01/1998 undefined $100

08/01/1980 undefined $0

01/01/1956 undefined $0


12/05/2019). All below information is 2019 Final.

Value Summary

Value Name Price













Platted 17' drainage easement across rearlot line for swale. Swale in good condition.Fence will need to removed to maintainswale. No other obstructions.

Agenda Page 27

Parcel Info

Parcel ID: 242919286039000340

Owner1: BURGUENO JORGE E

Owner2:BURGUENO VEGA DIANA A





0100 (SFR up to 2.49 AC)

Acreage: 0.38

Taxing District:


Sales Information


09/27/2013 undefined $90,000

07/02/2007 undefined $83,000

05/28/2004 undefined $2,068,800

09/25/2001 undefined $100

12/01/1998 undefined $150,000

02/01/1998 undefined $10

02/01/1998 undefined $100

08/01/1980 undefined $0

01/01/1956 undefined $0



Final.

Value Summary

Value Name Price






Exempt Value $0







Platted 10' drainage easement for berm across n2/3 of rear lot line, platted 17' drainage easementfor swale across s 1/3 of rear lot line. Poolenclosure extension appears to encroach oneasement. Berm in good condition. Swale okaycondition. Shrubs and trees in easement shouldbe removed.

Agenda Page 28

Agenda Page 29

Seventh Order of Business

Agenda Page 30

7A

Agenda Page 31

GOLDEN LAKES

Prepared by


Financial Report

November 30, 2019

Agenda Page 32

GOLDEN LAKESCommunity Development District

FINANCIAL STATEMENTS Page

Balance Sheet - All Funds ………………………………………………….1 - 3

Statement of Revenues, Expenditures and Changes in Fund Balance

General Fund ………………………………………………….4 - 5

Golf Maintenance Fund ………………………………………………….6

Enterprise - Golf Fund ………………………………………………….7 - 12

Notes to the Financial Statements ………………………………………………….13 - 14

SUPPORTING SCHEDULES

Non-Ad Valorem Special Assessments Schedule ………………………………………………….15

Cash and Investment Report ………………………………………………….16

Bank Reconciliation ………………………………………………….17

Table of Contents

Agenda Page 33

GOLDEN LAKES


Financial Statements

(Unaudited)

November 30, 2019

Agenda Page 34

GOLDEN LAKES


Balance SheetNovember 30, 2019

Governmental and Enterprise Funds

ACCOUNT DESCRIPTION

GENERAL

FUND

GOLF COURSE

MAINTENANCE

FUND

ENTERPRISE -

GOLF FUND TOTAL

ASSETS

Cash - Checking Account 365,587$ -$ 250,919$ 616,506$

Cash On Hand/Petty Cash - - 8,288 8,288

Cash Drawer - - 2,260 2,260

Accounts Receivable 4,697 - 185,237 189,934

Accounts Receivable > 120 1,700 - - 1,700

Accounts Receivable - Other - - 42,177 42,177

Allow -Doubtful Accounts (1,700) - (46,143) (47,843)

Interest/Dividend Receivables 6,208 - - 6,208

Due From Other Funds - 83,830 161,911 245,741

Inventory:

F&B - - 29,031 29,031

Golf Balls - - 10,742 10,742

Golf Clubs - - 25,342 25,342

Bags - - 2,665 2,665

Gloves - - 7,951 7,951

Hats - - 3,231 3,231

Shoes\Socks - - 2,365 2,365

Shirts\Sweater - - 13,920 13,920

Miscellaneous - - 2,439 2,439

Soft Drink - - 2,799 2,799

Beer - - 5,804 5,804

Wine - - 6,596 6,596

Liquor - - 14,398 14,398

Investments:

Certificates of Deposit - 12 Months 302,924 - - 302,924



Money Market Account 481,159 - - 481,159

SBA Account 4,826 - - 4,826

Excess Revenue Account - - 373 373

Prepayment Fund (A-1) - - 1,747 1,747

Reserve Fund (A-2) - - 16,194 16,194

Revenue Fund - - 99 99

Prepaid Items 1,850 - 28,808 30,658

Deposits 7,955 - 5,140 13,095

Fixed Assets

Buildings - - 183,921 183,921

Page 1

Agenda Page 35

GOLDEN LAKES




ACCOUNT DESCRIPTION

GENERAL

FUND

GOLF COURSE

MAINTENANCE

FUND

ENTERPRISE -

GOLF FUND TOTAL

Improvements Other Than Buildings (IOTB) - - 23,320 23,320

Equipment - - 103,754 103,754

Machinery & Equipment - - 130,070 130,070

Equipment and Furniture - - 60,195 60,195

Accum Depr ‐ Mach & Equip - - (45,806) (45,806)

Property Under Capital Leases - - 83,292 83,292

Accum Depr - Capital Leases - - (15,270) (15,270)

Bond Issuance Cost - - 57,745 57,745

Other Fixed Assets - - 2,500,000 2,500,000

TOTAL ASSETS 1,533,741$ 83,830$ 3,865,514$ 5,483,085$

LIABILITIES

Accounts Payable 40,402$ -$ 81,690$ 122,092$

Accrued Expenses 7,625 - 26,566 34,191

Accounts Payable - Other - - 26,600 26,600

Accrued Interest Payable - - 71,668 71,668

Accrued Payroll - - 57,345 57,345

Sales Tax Payable - - 17,540 17,540

Outing Deposits - - 40,490 40,490

Deferred Revenue-Memberships - - 98,815 98,815

Capital Leases-Current Portion - - 18,934 18,934

Gift Certificates - - 46,813 46,813

Revenue Bonds Payable-Current - - 75,000 75,000

Due To Other Funds 245,741 - - 245,741

Capital Leases-Long-Term - - 42,875 42,875

Revenue Bonds Payable-LT - - 3,935,000 3,935,000

TOTAL LIABILITIES 293,768 - 4,539,336 4,833,104

FUND BALANCES / NET ASSETS

Fund Balances

Nonspendable:

Prepaid Items 1,850 - - 1,850

Deposits 7,955 - - 7,955

Assigned to:

Operating Reserves 141,143 - - 141,143

Reserves - Drainage 50,000 - - 50,000

Page 2

Agenda Page 36

GOLDEN LAKES




ACCOUNT DESCRIPTION

GENERAL

FUND

GOLF COURSE

MAINTENANCE

FUND

ENTERPRISE -

GOLF FUND TOTAL

Reserves-Renewal & Replacement 190,260 - - 190,260

Reserves - Roadways 704,344 - - 704,344

Reserves - Roof 20,025 - - 20,025

Reserves - Sidewalks 25,000 - - 25,000

Reserves - Streetlights 25,000 - - 25,000

Unassigned: 74,396 83,830 - 158,226

Net Assets

Invested in capital assets,

net of related debt - - (1,008,594) (1,008,594)

Unrestricted/Unreserved - - 334,772 334,772

TOTAL FUND BALANCES / NET ASSETS 1,239,973$ 83,830$ (673,822)$ 649,981$

TOTAL LIABILITIES & FUND BALANCES / NET ASSETS 1,533,741$ 83,830$ 3,865,514$ 5,483,085$

Page 3

Agenda Page 37

GOLDEN LAKES

Community Development DistrictGeneral Fund

ANNUAL YTD ACTUAL

ADOPTED YEAR TO DATE AS A % OF NOV-19

ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL

REVENUES

Interest - Investments 6,000$ 1,295$ 21.58% 603$

Special Assmnts- Tax Collector 823,955 129,832 15.76% 129,832

Special Assmnts- Other 64,105 10,101 15.76% 10,101

Special Assmnts- Discounts (35,523) (5,699) 16.04% (5,699)

TOTAL REVENUES 858,537 135,529 15.79% 134,837

EXPENDITURES

Administration

P/R-Board of Supervisors 8,000 800 10.00% 800

FICA Taxes 612 61 9.97% 61

ProfServ-Engineering 22,500 1,695 7.53% 180

ProfServ-Legal Services 30,000 6,001 20.00% 4,439

ProfServ-Mgmt Consulting Serv 31,622 6,666 21.08% 3,333

ProfServ-Property Appraiser 8,240 - 0.00% -

ProfServ-Special Assessment 11,364 - 0.00% -

ProfServ-Web Site Development 16,200 770 4.75% 612

Auditing Services 7,500 500 6.67% 500

Postage and Freight 1,000 121 12.10% 83

Insurance - General Liability 8,828 9,647 109.28% -

Printing and Binding 1,000 157 15.70% 143

Legal Advertising 1,000 3,621 362.10% 3,621

Miscellaneous Services 300 388 129.33% -

Misc-Assessmnt Collection Cost 17,761 2,663 14.99% 2,663

Office Supplies 500 - 0.00% -

Annual District Filing Fee 175 175 100.00% -

Total Administration 166,602 33,265 19.97% 16,435

Field

ProfServ-Field Management 22,866 3,700 16.18% 1,850

Contracts-Security Services 128,500 23,448 18.25% 10,708

Contracts-Landscape 77,820 13,300 17.09% 6,250

Security-Roving Parking Patrol 15,600 2,978 19.09% 1,489

Communication - Teleph - Field 3,120 522 16.73% 467

Utility - Access Gate 7,500 295 3.93% 381

Electricity - General 30,000 3,029 10.10% 3,029

Electricity - Streetlighting 30,000 3,729 12.43% 3,714

Utility - Irrigation 800 55 6.88% 38

R&M-Renewal and Replacement 6,000 599 9.98% 599

Statement of Revenues, Expenditures and Changes in Fund Balances

For the Period Ending November 30, 2019

Page 4

Agenda Page 38

GOLDEN LAKES

Community Development DistrictGeneral Fund

ANNUAL YTD ACTUAL





R&M-Common Area 5,000 - 0.00% -

R&M-Gate 6,000 - 0.00% -

R&M-Irrigation 7,000 - 0.00% -

R&M-Ponds 4,500 1,734 38.53% 1,042

R&M-Pools 5,500 - 0.00% -

R&M-Roads & Alleyways 12,500 1,180 9.44% 1,180

R&M-Stormwater System 48,000 13,302 27.71% 13,302

R&M-Streetlights 20,000 1,799 9.00% 1,799

R&M-Trees and Trimming 6,500 - 0.00% -

R&M-Security Cameras 1,000 125 12.50% -

Misc-Contingency 5,000 - 0.00% -

Bottled Water Delivery 550 66 12.00% 36

Op Supplies - Gatehouse 682 89 13.05% -

Total Field 444,438 69,950 15.74% 45,884

Debt Service

Principal Debt Retirement 163,798 - 0.00% -

Interest Expense 83,700 - 0.00% -

Cost of Issuance 86,500 - 0.00% -

Total Debt Service 333,998 - 0.00% -

TOTAL EXPENDITURES 945,038 103,215 10.92% 62,319

Excess (deficiency) of revenues

Over (under) expenditures (86,501) 32,314 -37.36% 72,518

OTHER FINANCING SOURCES (USES)

Contribution to (Use of) Fund Balance (86,501) - 0.00% -

TOTAL FINANCING SOURCES (USES) (86,501) - 0.00% -

Net change in fund balance (86,501)$ 32,314$ -37.36% 72,518$

FUND BALANCE, BEGINNING (OCT 1, 2019) 1,207,659 1,207,659

FUND BALANCE, ENDING 1,121,158$ 1,239,973$

Page 5

Agenda Page 39

GOLDEN LAKES

Community Development DistrictGolf Course Maintenance Fund

ANNUAL YTD ACTUAL



REVENUES

Interest - Investments -$ -$ 0.00% -$


Special Assmnts- Discounts (2,665) (428) 16.06% (428)

TOTAL REVENUES 63,971 10,072 15.74% 10,072

EXPENDITURES

Administration

ProfServ-Property Appraiser 666 - 0.00% -

Misc-Assessmnt Collection Cost 1,333 200 15.00% 200

Total Administration 1,999 200 10.01% 200

Golf Course

R&M-Golf Course 61,972 - 0.00% -

Total Golf Course 61,972 - 0.00% -

TOTAL EXPENDITURES 63,971 200 0.31% 200

Excess (deficiency) of revenues

Over (under) expenditures - 9,872 0.00% 9,872

Net change in fund balance -$ 9,872$ 0.00% 9,872$

FUND BALANCE, BEGINNING (OCT 1, 2019) 73,958 73,958

FUND BALANCE, ENDING 73,958$ 83,830$



Page 6

Agenda Page 40

GOLDEN LAKES

Community Development DistrictEnterprise - Golf Fund

ANNUAL YTD ACTUAL



OPERATING REVENUES

Interest - Investments -$ 197$ 0.00% 99$

Green Fees-GS 319,780 44,962 14.06% 30,557

Green Fees-Outings-GS 56,656 12,359 21.81% 1,890

Green Fees-Members-GS - 40 0.00% 30

Cart Fees-GS 359,259 51,969 14.47% 32,158

Cart Fees-Outings-GS 50,922 12,673 24.89% 4,140

Cart Fees-Members-GS 210,081 26,520 12.62% 11,440

Range-GS 39,432 4,807 12.19% 3,131

Instruction-Individual -INST 7,086 855 12.07% 360

Food Sales-On Course-F&B 5,040 1,064 21.11% 692

Food Sales-Banquets-F&B 307,900 49,131 15.96% 15,490

Food Sales-Clubhouse-F&B 466,063 87,511 18.78% 48,772

Non-Alcoholic-Clubhouse-F&B 19,538 4,150 21.24% 1,970

Alc Sales (Beer)-Banquets-F&B 21,101 3,110 14.74% 1,236

Alc Sales (Beer)-Clubhouse-F&B 91,532 17,872 19.53% 8,535

Alc Sales (Wine)-Banquets-F&B 14,895 3,917 26.30% 1,644

Alc Sales (Wine)-Clubhouse-F&B 66,438 9,518 14.33% 5,147

Alc Sales (Liquor)-Banquet-F&B 26,066 4,405 16.90% 1,467

Alc Sales (Liquor)-Clubhouse-F&B 113,927 19,098 16.76% 9,423

Gratuity-Outings-F&B - (39,412) 0.00% (17,884)

Gratuity-Clubhouse-F&B - 31,241 0.00% 17,155

Room Charge-Banquets-F&B 68,685 6,795 9.89% 2,915

Service Charge-Banquets-F&B - 12,910 0.00% 4,336

Equipment Rental Fees-Banquets-F&B - 4,618 0.00% (401)

Non-Alcoholic-Outing-F&B - 128 0.00% -

Food Sales-Outings 41,600 1,850 4.45% 900

Non-Alcoholic-On Course-F&B 11,384 1,870 16.43% 944

Alc Sales (Beer)-On Course-F&B 44,733 9,570 21.39% 5,300

Alc Sales (Liquor)-On Course-F&B 19,409 4,086 21.05% 2,785

Alc Sales (Wine)-On Course-F&B 5,440 - 0.00% -

Alc Sales (Beer)-Outings-F&B - 1,722 0.00% 175

Room Rentals - 979 0.00% 475

Membership Dues - monthly 871,125 123,028 14.12% 63,339

Golf Ball Sales 49,309 8,497 17.23% 5,123

Glove Sales 11,903 2,061 17.31% 1,225

Headwear Sales 10,431 973 9.33% 508

Ladies' Wear Sales 8,760 1,036 11.83% 806

Men's Wear Sales 30,984 5,206 16.80% 3,587

Statement of Revenues, Expenses and Changes in Net Assets


Page 7

Agenda Page 41

GOLDEN LAKES


ANNUAL YTD ACTUAL





Shoes Sales 6,960 911 13.09% 270

Miscellaneous Sales - (1,331) 0.00% (899)

Club Sales 24,100 2,139 8.88% 1,635

Rental Clubs Sales 5,520 760 13.77% 520

Bag Sales 5,304 1,482 27.94% 747

Juniorwear Sales 88 - 0.00% -

Outerwear Sales 3,817 352 9.22% 352

Club Repair Sales 2,647 732 27.65% 321

Other Pro Shop Sales 4,785 4,990 104.28% 45

Handicap Fee Sales 770 - 0.00% -

Locker Fees 560 30 5.36% -


Special Assmnts- Discounts (9,352) (1,715) 18.34% (1,715)

Other Miscellaneous Revenues 75,000 15,241 20.32% 8,351

TOTAL OPERATING REVENUES 3,736,892 597,012 15.98% 321,201

OPERATING EXPENSES

Personnel and Administration

Payroll-Hourly 48,562 6,495 13.37% 3,535

Payroll-Benefits 80,400 9,732 12.10% 4,881

Payroll-Managers 187,975 39,992 21.28% 18,601

Payroll-Processing Fee 23,136 3,866 16.71% 1,954

Payroll - Bonus 17,613 - 0.00% -

Payroll Taxes 22,876 2,416 10.56% 1,298

ProfServ-Legal Services - 2,000 0.00% 1,000

Legal/Accounting/Professional 1,200 - 0.00% -

BCG Management 96,000 16,000 16.67% 8,000

Contracts-Pest Control 3,084 1,027 33.30% 514

IT Support 5,520 860 15.58% 400

Travel and Per Diem 1,800 - 0.00% -

Training/Staff Development 900 79 8.78% 79

Communication - Telephone 4,728 782 16.54% 384

Communication - Mobile 900 225 25.00% 225

Postage 1,200 170 14.17% 170

Fed-Ex/Courier 120 79 65.83% 79

Utility - Water & Sewer 10,800 1,954 18.09% 1,030

Garbage Removal 20,124 3,645 18.11% 2,897

Utilities-Electric 51,505 7,891 15.32% 3,808

Lease - Copier 6,832 1,321 19.34% 304

Page 8

Agenda Page 42

GOLDEN LAKES


ANNUAL YTD ACTUAL





Golf Cart Equip Leases 57,924 9,654 16.67% 4,827

Insurance-P&C 197,151 36,651 18.59% 18,325

Insurance-Workmans Comp 36,483 5,855 16.05% 3,028

R&M-Buildings 21,500 3,837 17.85% 2,760

R&M-Equipment 22,980 3,829 16.66% 1,915

Equip Maint/Repair-Prevent 3,312 - 0.00% -

Printing and Binding 900 425 47.22% 425

Help Wanted Ads 180 - 0.00% -

Promotions 9,100 1,045 11.48% 395

Graphic Design 3,600 600 16.67% 300

Membership Programs 10,800 2,538 23.50% 1,638

Sales Management 1,450 500 34.48% 250

CX Evaluations-Mystery Shops 2,700 237 8.78% 237

Advertising (Print) 600 - 0.00% -

Advertising (Electronic) 7,800 772 9.90% 410

Advertising (Display) 2,000 439 21.95% 34

Misc-Employee Meals 7,200 1,169 16.24% 570

Misc-Licenses & Permits 1,647 - 0.00% -

Misc-Assessmnt Collection Cost 5,165 801 15.51% 801

Misc-Credit Card Fees 55,664 7,395 13.29% 4,043

Internet Access 4,344 582 13.40% 205

TV/Cable or Dish 4,752 403 8.48% -

Bank Fees 5,472 985 18.00% 598

Use Tax Expense 7,200 1,523 21.15% 1,143

Finance Charges - 45 0.00% 45

Misc-Security - 750 0.00% 750

Website & Newsletter 6,000 1,554 25.90% 27

Misc.-Personal Property Taxes 5,833 4,935 84.60% 4,935

Office Supplies 4,536 128 2.82% 69

Computer Supplies/Equipment 3,000 400 13.33% 200

Operating Supplies 8,484 2,133 25.14% 1,352

Op Supplies - Uniforms 600 - 0.00% -

Clubhouse Cleaning Service G&A 2,280 236 10.35% 236

Software 2,400 398 16.58% -

Chamber / Organization Dues 1,370 - 0.00% -

Bad Debt Expenses 12,000 (505) -4.21% (505)

Total Personnel and Administration 1,101,702 187,848 17.05% 98,172

Maintenance and Landscaping

Payroll-Hourly 291,780 46,715 16.01% 22,992

Page 9

Agenda Page 43

GOLDEN LAKES


ANNUAL YTD ACTUAL






Payroll - Bonus 11,628 - 0.00% -

Payroll Taxes 36,028 4,180 11.60% 2,275

Outside Services 14,400 13,556 94.14% 5,597

Contracts-Solid Waste 2,100 - 0.00% -

Oil/Lube 1,500 - 0.00% -

Gas Diesel 27,450 5,448 19.85% 1,322

Communication - Mobile 900 - 0.00% -

Utility - Irrigation 22,900 - 0.00% -

Utility - Water & Sewer 2,400 921 38.38% 592

Utilities-Electric 4,200 3,074 73.19% 1,311

R&M-Irrigation 6,000 1,264 21.07% 570

Equip Maint/Repair-Fix 431 - 0.00% -

Equip Maint/Repair-Prevent 24,000 4,304 17.93% 1,302

Misc-Employee Meals 900 165 18.33% 35

Safety Equipment 600 - 0.00% -

Cleaning Supplies 1,200 - 0.00% -

Supplies-Landscape 900 838 93.11% 838

Supplies-Course 4,648 - 0.00% -

Supplies-Shop 1,200 - 0.00% -

Operating Supplies 11,229 - 0.00% -

Sand-Top Dressing greens/tees 6,650 559 8.41% 559

Op Supplies - Uniforms 2,100 - 0.00% -

Chemicals-Fungicides 2,550 912 35.76% 240

Chemicals-Herbicides 31,012 4,989 16.09% 914

Chemicals-Insecticides 6,256 3,834 61.29% 335

Chemicals-Growth Regulators 750 - 0.00% -

Chemicals-Wetting Agents 344 - 0.00% -

Fertilizers-Fairways / Roughs 29,432 - 0.00% -

Fertilizers-Greens 6,504 3,389 52.11% 1,384

Supplies - Seeds 4,400 - 0.00% -

Soil Amendments-AGRO 500 - 0.00% -

Small Equipment/Hand Tools 1,500 832 55.47% 832

Total Maintenance and Landscaping 655,292 110,900 16.92% 48,928

Pro Shop

COS - Golf Balls 29,585 5,169 17.47% 3,068

COS - Gloves 7,142 1,279 17.91% 729

COS - Headwear 6,259 530 8.47% 264

COS - Ladies' Wear 5,256 - 0.00% -

Page 10

Agenda Page 44

GOLDEN LAKES


ANNUAL YTD ACTUAL





COS - Men's Wear 18,590 1,983 10.67% 1,686

COS - Shoes 4,176 1,023 24.50% 599

COS - Miscellaneous - 549 0.00% 258

COS - Clubs 14,460 1,070 7.40% 311

COS - Outerwear 2,290 791 34.54% 791

COS - Bags 3,183 1,127 35.41% 525

COS - Junior Wear 53 - 0.00% -

COS - General 2,871 - 0.00% -

COS - Beverage - Beer/Wine 121,062 21,171 17.49% 10,495

COS - Beverage - Non Alch 12,488 4,040 32.35% 1,657

COS - Food Sales 326,753 55,982 17.13% 29,419

Total Pro Shop 554,168 94,714 17.09% 49,802

Golf Operations

Payroll-Salaries 77,904 12,816 16.45% 6,303

Payroll-Hourly 143,981 25,456 17.68% 13,705

Payroll-Commission 14,554 2,448 16.82% 490

Payroll Taxes 23,644 3,133 13.25% 1,727

R&M-Golf Cart 4,000 474 11.85% 303

Misc-Employee Meals 3,300 791 23.97% 488

Misc-Handicap Fees 3,430 - 0.00% -

Tournaments and Events - 3,629 0.00% 954

Supplies-Scorecards and Pencil 1,020 204 20.00% -

Supplies-Shop - 32 0.00% 32

Op Supplies - Uniforms 2,100 246 11.71% -

Driving Range Supplies 5,000 4,126 82.52% 26

Chamber / Organization Dues 750 - 0.00% -

Total Golf Operations 279,683 53,355 19.08% 24,028

Amenities

Outside Services 9,900 1,737 17.55% 912


Operating Supplies 800 - 0.00% -

Total Amenities 15,140 2,341 15.46% 1,202

Food and Beverages

Payroll-Hourly 340,793 60,304 17.70% 29,222


Payroll - Bonus 4,000 - 0.00% -

Payroll Taxes 72,872 9,428 12.94% 4,760

Page 11

Agenda Page 45

GOLDEN LAKES


ANNUAL YTD ACTUAL





Linen/Laundry 31,736 5,355 16.87% 1,944

Grease Removal 700 - 0.00% -

Training/Staff Development 480 - 0.00% -

Communication - Mobile 600 - 0.00% -


Propane /Natural Gas 35,048 5,290 15.09% 1,985

Equip Maint/Repair-Fix 16,488 1,169 7.09% 699

Equip Maint/Repair-Prevent 1,400 907 64.79% -

Misc-Licenses & Permits 500 - 0.00% -

Decorations 3,000 625 20.83% 625

Glassware/China/Silver 1,500 879 58.60% 664

Cleaning Supplies 6,396 611 9.55% 336

Supplies-Paper and Plastic 10,488 1,553 14.81% 881

Supplies-Banquet 12,276 1,611 13.12% 558

Supplies-Bar - 173 0.00% 173

Supplies-Kitchen 8,052 1,765 21.92% 674

Op Supplies - Uniforms 1,500 1,005 67.00% -

Total Food and Beverages 736,710 110,969 15.06% 52,218

Non-Operating

Improvements - Building - 5,270 0.00% -

Total Non-Operating - 5,270 0.00% -

Debt Service

Principal Debt Retirement A-1 70,000 - 0.00% -

Principal Debt Retirement A-2 5,000 - 0.00% -

Interest Expense Series A-1 142,834 71,417 50.00% 71,417

Interest Expense Series A-2 24,700 12,350 50.00% 12,350

Total Debt Service 242,534 83,767 34.54% 83,767

TOTAL OPERATING EXPENSES 3,585,229 649,164 18.11% 358,117

Operating income (loss) 151,663 (52,152) -34.39% (36,916)

Change in net assets 151,663$ (52,152)$ -34.39% (36,916)$

TOTAL NET ASSETS, BEGINNING (OCT 1, 2019) (621,670) (621,670)

TOTAL NET ASSETS, ENDING (470,007)$ (673,822)$

Page 12

Agenda Page 46


Balance SheetGeneral Fund

General Fund

► Assets

►

►

Reserves to be approved by the Board for FY 2019:

Operating Reserves 141,143$

Drainage 50,000

Renewal & Replacement 190,260

Roadways 704,344

Roof 20,025

Sidewalks 25,000

Streetlights 25,000

TOTAL 1,155,772$

■ Interest/Dividends Receivable - Interest due on CD's as of September 2019.

Notes to the Financial Statements

Fund Balance

November 30, 2019

■ Assigned to- These funds are set aside for repair and replacement of assets throughout the community.

■ Cash and Investments - In order to maximize liquidity of cash, the District has two Money Market Accounts and four CDs. (See Cash & Investment Report for further details).

■ Accounts Payable - Invoices for current month but not paid in current month.

■ Deposits - Paid to Lakeland Electric and Polk County Utilities Division to open accounts in the District's name plus Escrow deposit to Peterson & Mayers for purchase of Club.

Liabilities

■ Accrued Expenses - Estate Management (R&M Ponds), Tampa Electric (General & Streetlighting), Lakeland Electric (Access Gate, General & Streetlighting), Securitas Security (Security & Roving).

■ Prepaid Items - Enprovera Property Advisors - December 2019.

■ Interest Receivable > 120 Days - Duplicate payment to Vendor.

■ Accounts Receivable - Inframark fees that were billed incorrectly.

Page 13

Agenda Page 47


Revenues, Expenditures and Fund BalancesGeneral Fund

Financial Overview / Highlights

►

►

Variance Analysis

Account Name

Adopted

Budget

YTD

Actual

% of

Budget

Expenditures

Administrative

Legal Advertising 1,000$ 3,621$ 362%

Miscellaneous Services 300$ 388$ 129%

Field

Contracts-Security Services 128,500$ 23,448$ 18%

Contracts - Landscape 77,820$ 13,300$ 17%

Notes to the Financial Statements

The Non-Ad Valorem Special Assessments are 16% collected.

Explanation

Total Expenditures are at approximately 11% of adopted budget. Significant variances are explained below.

November 30, 2019

Security services are based on hours performed which can vary per month.

Notice for Public Hearings on 11/5 & 11/12

October fee was $7,050 and November was $6,250.

Web Services / ADA Compliance - Quarterly payment.

Page 14

Agenda Page 48

November 30, 2019

GOLDEN LAKES


Supporting Schedules

Agenda Page 49


Discount / Gross General Fund General Fund Golf Course Enterprise Golf

Date Net Amount (Penalties) Collection Amount Operations & Capital Maintenance Fund

Received Received Amount Costs Received Maintenance Improvement Fund 2017 A1 & A2

Assessments Levied FY 2020 1,221,910$ 823,955$ 64,105$ 66,636$ 267,214$

Allocation % 100% 67% 5% 5% 22%

11/14/19 2,570$ 109$ 52$ 2,732$ 1,842$ 143$ 149$ 597$

11/18/19 13,202 706 239 14,147 9,540 742 772 3,094

11/22/19 40,170 1,708 820 42,698 28,792 2,240 2,329 9,337

11/29/19 125,090 5,319 2,553 132,961 89,658 6,976 7,251 29,077

TOTAL 181,033$ 7,842$ 3,664$ 192,538$ 129,832$ 10,101$ 10,500$ 42,105$

% COLLECTED 15.8% 15.8% 15.8% 15.8% 15.8%

TOTAL OUTSTANDING 1,029,371$ 694,123$ 54,004$ 56,136$ 225,108$

ALLOCATION BY FUND

Non Ad Valorem Special Assessments - Imperial Polk County Tax Collector(Monthly Collection Distributions)

For the Fiscal Year Ending September 30, 2020

Page 15

Agenda Page 50


INVESTMENT

ACCOUNT NAME BANK NAME TYPE MATURITY YIELD BALANCE

GENERAL FUND

Operating Checking Account Centerstate Bank n/a 0.00% 365,587$

Subtotal 365,587$

Certificate of Deposits 6 M Bank United CD #2318 02/22/20 1.87% 153,977$




Subtotal 661,459$

Money Market Account BankUnited n/a 1.50% 481,159$

Subtotal 481,159$

Operating Account-Fund A State Board of Administration n/a 0.78% 4,826$

DEBT SERVICE FUNDS SERIES 2017

Reserve Fund A-2 US Bank Commercial Paper n/a 0.10% 16,194$

Excess Revenue Fund US Bank Commercial Paper n/a 0.10% 373$

Revenue Fund US Bank Commercial Paper n/a 0.10% 99$

Prepayment Fund (A-1) US Bank Commercial Paper n/a 0.10% 1,747$

Subtotal 18,413$

1,531,443$

Cash and Investment Report

November 30, 2019

Grand Total

Page 16

Agenda Page 51

Posting Date

Document Type

Document No. Description Amount

Cleared Amount Difference

Outstanding Checks

11/6/2019 Payment 12551 ALEX BELCHER 990.00 0.00 990.00

11/6/2019 Payment 12555 GARY BALL 120.00 0.00 120.00

11/19/2019 Payment 12564 ENPROVERA PROPERTY ADVISORS, LLC 1,850.00 0.00 1,850.00

11/21/2019 Payment 12565 PENNONI ASSOCIATES INC. 1,695.06 0.00 1,695.06

11/25/2019 Payment 12567 DEAL ELECTRIC 1,798.50 0.00 1,798.50

11/27/2019 Payment 12568 SECURITAS SECURITY SERVICES USA, INC.

2,842.36 0.00 2,842.36

Total Outstanding Checks...................................................................................................................... 9,295.92 9,295.92

G/L Balance 365,586.64

Bank Account No. 5206

Statement No. 11-19

Statement Date 11/30/2019

Statement Balance 374,882.56G/L Balance (LCY) 365,586.64

Difference 0.00

Ending G/L Balance 365,586.64

Subtotal 365,586.64

Outstanding Deposits 0.00

Negative Adjustments 0.00

Positive Adjustments 0.00

Subtotal 374,882.56

Outstanding Checks 9,295.92

Ending Balance 365,586.64

Differences 0.00

CenterState Bank - GF

Bank Reconciliation

Golden Lakes CDD

Page 17

Agenda Page 52

Eighth Order of Business

Agenda Page 53

8A

Agenda Page 54

January 7th, 2020Presentation

Agenda Page 55

What’s New

since we last met?

• Added a new cart path entering #18 fairway

Agenda Page 56

Upcoming Projects around the facility

• In the process of replacing some the older banquet tables.

• Working on quotes for shades on the West End banquet Windows.

• Received some carpet samples and working to obtain quotes for Trophy Room Carpet replacement.

• Will continue to replace cart path pads as needed throughout the facility.

Agenda Page 57

Year over Year Comparison17/18 18/19 Variance

Rounds 31,263 39,411 8,148Revenue $3,055,191 $3,353,681 $298,490EBITDA $19,547 $102,294 $82,747

Agenda Page 58

Current Year Key Metrics

• Through November, on track with budget targets (ahead of plan by $904).

• Member Rounds up 5% over previous year.• Membership Revenue is up 3% over previous

year.• A La Carte Revenue up 6.7% over previous year.• Golf Advisor rating snapshot is 4.7 in the last 6

months compared to an “all-time” rating of 4.6. Golfers rate our facility based on conditions, value, layout, staff friendliness, pace of play, and amenities.

• Forecasting an EBITDA of $142,000 for this Fiscal Year.

Agenda Page 59

THANK YOU

Agenda Page 60

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