Reunion East Community

Development District

Agenda

March 14, 2019

Reunion East

Community Development District

135

W. Central Blvd., Suite

Phone: 407-841-5524-

320, Fax:

Orlando FL,	32801	
407-839-1526		

March

7,

2019

Board of Supervisors								
Reunion East Community							
Development District								
Dear Board Members:								
The regular meeting of the Board of Supervisors of the Reunion East Community Development		
District  will	be  held  Thursday,  March  14,  2019	at	1:00  p.m.	at  the  Heritage  Crossing		
Community Center, 7715  Heritage  Crossing Way,	Reunion,  FL.	Following is  the  advance		
agenda for the meeting:						
							
1.	Roll Call								
2.	Public Comment Period							
3.	Approval of the Minutes of the February 21,	2019	Meeting			
4.	Review and Acceptance of Draft Fiscal Year	2018	Audit Report		
5.	Financing Matters							
	A	Consideration of Third Supplemental Assessment Methodology Report for the		
		Unexchanged Bonds						
	B.	Consideration of							
			Resolution 2019-02 Declaring Special Assessments		
	C.	Consideration  of	Resolution  2019-03  Setting  a  Public  Hearing  for  Special		
		Assessments			
									
6.	Staff Reports								
	A	Attorney							
	B.	Engineer							
	C.	District Manager's Report						
		i.	Action Items Lists						
		ii.	Approval of Check Register						
		iii.	Balance Sheet and Income Statement			
						
7.		iv.  Status of Direct Bill Assessments				
	Other Business							
8.	Supervisor's Requests							
9.	Next Meeting Date
10.	Adjournment

The  second  order  of  business	is	the  Public  Comment  Period  where  the  public  has	an	
opportunity to be heard on propositions coming before the Board as reflected on the agenda,	
and any other items.				

The third order of business is minutes are enclosed for your

the approval review.

of the minutes of the

February 21,

2019

meeting. The

The fourth order of business is the review and acceptance of the report. A copy of the draft report is enclosed for your review.

draft

Fiscal Year

2018

audit

The fifth order of business is the Financing Matters.  Section A is the consideration of the Third		
Supplemental Methodology for  the  Unexchanged  Bonds.   Section B is  the consideration of		
Resolution  2019-02	declaring  special  assessments  and  Section  C  is  the  consideration  of		
Resolution 2019-03 setting a public hearing for special		
are enclosed for	your review.		assessments.  Copies of both Resolutions		
					
The sixth order	of business is Staff Reports.  Section 1 of the District Manager's Report is the		
presentation and discussion of the action items lists.  Copies of the lists are enclosed for your		
review.  Section 2 includes the check register for	approval and Section 3 includes the balance		
sheet and income statement for your review.  Section 4 is the discussion of the status of the		
direct bill assessment collections.	A table with the direct bill information is enclosed for your		
review.					

The balance of the agenda will questions, please contact me.

be

discussed

at

the meeting.

In

the

meantime,

if

you

have any

Sincerely,

George S. Flint

District Manager

Cc:

Jan Carpenter, District Counsel

Steve Boyd, District Engineer

Enclosures

M INUTES

MINUTES OF MEETING REUNION EAST COMMUNITY DEVELOPMENT DISTRICT

The  regular  meeting

of

the  Board

of

Supervisors

of

the

Reunion

East  Community

Development  District  was  held  Thursday,  February  21,  2019  at	1 :00  p.m.  at	
Crossing Community Center, 7715 Heritage Crossing Way, Reunion, Florida.	
Present and constituting a quorum were:			
Mark Greenstein	Chairman		
Don Harding	Vice Chairman		
Steven Goldstein	Assistant Secretary		
John Dryburgh	Assistant Secretary		
Trudy Hobbs	Assistant Secretary		
Also present were:			

the

Heritage

George Flint	District Manager

Andrew d' Adesky	District Counsel
Steve Boyd	District Engineer
Alan Scheerer	Operations Manager

John Cruz	CWS Security
Rob Stultz	Yellowstone Landscape

FIRST

ORDER

OF

BUSINESS

Roll Call

Mr. Flint called the meeting to order and called the roll.

SECOND

ORDER

OF BUSINESS

Public Comment Period

A resident: Mr. Flint:

The pool at the Terraces is finally heated and it is We have been waiting to get natural gas connected,

fantastic. thank you.

A  resident:  What  is  the  process

of

getting  a  small  playground  by  the  Terraces  or

someplace else.   I would like to know the feasibility

of

getting a continuous sidewalk put in

around Excitement because so many people walk along Excitement.

Mr. Greenstein:

Someone has to pay for

it

and construction trucks

tear

it

up.

It

has been

brought up installed by

before and the builder

unfortunately it is not a practical thing to do.

of each homesite.

The

sidewalk is to  be

February 21, 2019

Reunion East CDD

Mr. elevation.

Flint:

If

we were to

do

it now

we

wouldn't be sure we were doing it at the right

Mr.	d' Adesky:  We incur the liability for that.		
Mr.	Flint:  As far as the playground, the Board does annually consider their budget and	
the May meeting is when the process starts.  It might be something that they can look at.  The	
CDD would have to own property to be able to place that and then the Board would have to	
appropriate the funds to do that.		
Mr.	Harding:  There are a couple spots that could be used for that.		
Mr.	Flint:  We appreciate your input and the Board will keep that	in mind if you want to	
come back in May when the Board is talking about the budget.		
A resident:  Can we get 'No Parking' signs by the Terraces?		
Mr.	Scheerer:  We will get together and take a look at that.		

THIRD ORDER OF BUSINESS

Approval of the Minutes
2019 Meeting

of

the January 10,

On MOTION by Mr. Harding seconded by Mr. Greenstein with all	
in  favor  the  minutes	of  the  January  10,  2019  meeting  were	
approved, as presented.		

FOURTH ORDER OF BUSINESS

Consideration

Enhancements

to

of the District

Environmental
Ponds

Mr. Flint:  We had a request from Mr. Harding to set aside some time at the beginning of	
the meeting to allow a couple homeowners to make a presentation to the Board.	
Mr. James Dowling:  We are going to leave brochures with you and some of these issues	
we  have  outlined  in  the  brochure  don't  pertain to  the  East  CDD  and  we  understand  that;	
however, the Dowlings  feel  that you have a voice and we  are  very  excited with Kingwood	
coming in and we hope to have a meeting with the principals of Kingwood over the next couple	
of days.  We met with Kevin Baker	of ABOG yesterday and they were very receptive of the	
information that we outlined here.  The reason we are talking about this is everybody wants to	
better their community and outlined in their brochure we feel that all of these things, West side,	
East side, will better everybody.  It is somewhat self-serving, we own 52 lots within Reunion, we	
own a house, we own a condo, but we want the entire community to benefit.  Outlined in the	
brochure is the benefit of doing some	of these improvements.  Currently there are 500 vacant lots	
within Reunion and anything we can	do to get the community built out is going to be better for	

2

February 21, 2019

Reunion East

CDD

everybody, for you, individual property owners, for Kingwood for the HOA.  The first section	
deals specifically with you and that is the pond.   We are from  Canada and we have what is	
known as the Department of Fisheries and they actually do this for free if you want to stock a	
pond.  The reason we are talking about stocking a pond with fish is because Reunion would	
benefit by more wildlife within the community.  There is very little wildlife now, there are a	
couple birds in the large pond.	
Mr. Chris Dowling:  Through guidance from various professionals in the industry they	
gave us an appropriate number of stocking quantity per acreage.  If all the ponds have the proper	
amount of	stocking it would cost the budget $2,500.  We think it is a very low cost improvement	
that may not help at all but could help tremendously and add to everyone's enjoyment.	
Mr.	James Dowling:  If you want to put fish in all the ponds in the entire community with	
the type of fish that attract wildlife it is $2,367.  If that is a problem with the Board expending	
money the Dowlings would be happy to do it.  We would like the Board to do it but we would be	
happy to do it, but we would need permission from you and Reunion West CDD to do that.  You	
can contact us if there are any questions or concerns.	
Mr.	Harding:  What was the response from Kevin at the Resort?	
Mr.	Chris Dowling:  We met with him yesterday and he liked the idea and it was a good	
possibility.			
Mr.	Goldstein:  What are the negatives of putting fish in the ponds?	
Mr.	Boyd:	The  largest pond in the East and  one of the  ponds in the  West  are  for	
irrigation supply ponds so keep that in mind.	
Mr.	James Dowling:  Under Tab 3 it addresses pond fountains.	
Mr.	Flint:	Patriots Landing is the only pond the CDD owns and put a fountain in that	
one.  If you want a second one in the Palmer pond that would be the golf course.  The other issue	
you bring up in the brochure is a Reunion West CDD issue, but it is something that everyone is	
familiar with is the monuments in the West. The contractor has been hired, the contract has been	
signed all the information to apply for the permit has been prepared except they missed one	
monument sign and once that is added the permit will be applied.  All the signage has been	
designed to match with the  signage in the  East and there  are  7 monuments and one at the	
guardhouse off of Tradition.	
Mr.	James Dowling:  We are of the mindset that whatever everybody can do to improve	
the Resort is good because in our opinion it has gone downhill the last couple of years.  A lot of	

3

February

21,

2019

Reunion East CDD

effort  is  being  made	on  numerous  fronts,  but  part  of the  problem	is  the  condition  of the	
surrounding grounds around the golf course.	We mentioned to Kevin	Baker that we think the	
golf course is in great shape, the bunkers need some work and they plan to spend a huge amount	
of money over the next couple of years	on the bunkers, but the tee boxes are great, the fairways	
are great, the greens are great and everything else is horrendous.		
Mr. Flint:	We have the same concern about the landscaping surrounding the golf course	
because our right	of way butts up against some of the areas you are talking about.	
Mr. Greenstein:	I think they have exceeded expectations on the West side around Bears	
Den.  I sit on the West Board and if you look at the site plan, there will be ample landscaping for	
the townhouse project so when you come around the tum and get into the Resort off of Tradition	
Boulevard that whole area on the right will be landscaped beautifully because it has to comport	
with what they have done for the Bears Den.   The area along Sinclair Road, the median, is	
County property but we worked out an agreement with the County to enhance and maintain it	
and it is expensive.  It is something we can look at, but the community has to embrace it.	
Mr. James Dowling:	The Encore Club advertises their Resort within Reunion.  It is my	
understanding that those four or five signs that advertise the Encore Club are on Reunion West	
CDD lands.  Does that make business sense for Reunion Resort to advertise a community that is	
in competition with Reunion within the gates	of the community.		
Mr. Greenberg:	I am not here to address the business relationship because I think it has	
changed over the years	and	there is a positive aspect to all of this, but we have a signage policy	
throughout that has been adopted by the East and West.  What motivated it was the Spectrum	
project, condos around	the water park, which is on the East side they needed signage in various	
places to  include  the  West  side.   The  bottom line is  they  are  conforming  with the  signage	
requirements  established  by  the  CDD.	It is  Resort  signage,  nice  wood  posts,  and they  are	
following the policy.  There are a couple signs, one was removed and one more as you leave the	
property and we are going to make sure all the signage conforms with our policy.	
Mr. James Dowling:  When you talk about the Spectrum signs is within the Resort, what	
we are talking about are signs that are on Reunion West CDD property and they have the right to	
put those signs up and subject to our rules.			
Mr. Greenstein:	We	establish rules for signage and there are possibly some signs that are	
not in compliance with	that	policy and we will have to take a look at that.  New signs are going	
up on both the East side and	West side, four of the six signs are on CDD, one is County property	

4

February

21,

2019

Reunion East CDD

and another is Resort property.  Even if it is not on CDD property we are going to try to have	
them conform to the signage rules.  The reason for it is it adds prestige to the project it makes it	
look like we are one family, one project or one developer.  There may be multiple developers but	
that doesn't mean that we can't have uniform signage and uniform standards.	
Mr. Flint:  Any signage on CDD property per our policy is to be directional signage, way-	
finding signage and people do have a right to know where the Encore Club is to the extent we	
have approved a sign with way-finding information.  We don't allow any marketing signage on	
CDD property.			
Mr. d' Adesky:  At the same time we don't take business considerations, we cannot take	
business considerations, we treat everybody equally.			
Mr. James Dowling:  There are four or five signs saying Encore Club sales models ahead.	
We have been investing since 2012 and they have been there.		
Mr. Flint:  Reunion West didn't initially adopt the sign policy that East did because they	
were controlled by the Encore developer at that time.	It was at the January meeting that they	
agreed  they  would  comply  with  the  same  sign  policy  that  East  developed.   We  are  in  a	
transitional period on the West CDD but that is not something this group has control over, but	
they did develop the policy and now West has decided to follow it.	The Spectrum signage is	
what precipitated their agreeing to follow that plus there has been a switch on that Board.	
Mr. Greenstein:  We can definitely remove the signs over there and have them comport.	
First, we determine the need for  the sign and as long	as they meet the requirements on the	
directional then they are going to have look like all the other signs.	I know what signs you are	
talking about and they are much larger than the other signs.		
Mr. James Dowling:  Why there is within this Resort signage advertising another Resort	
when Encore is only now dealing with the Bears Den.			
Mr. Greenstein:  That parcel is part of Reunion West CDD and while it may not be part	
of the master development plan for Reunion Resort and Club they are part of the Reunion West	
CDD and if	a resident or organization came to the Board and made a request for signage it would	
be tough to	say  no  when they  are  paying  CDD  assessments.   That project  along  with the	
apartment complex along Sinclair Road are paying owners.		

FIFTH ORDER OF BUSINESS

Ratification	of	SFWMD    Transfer	
Environmental Resource Permits (7)	

of

5

February 21, 2019									Reunion East CDD		
												
Mr. Flint:  The South Florida Water	Management District is going through their files and		
									
cleaning up any situations where there are permits that the developer pulled for the drainage		
system within the District.  At some point those are	supposed to be transferred to the operating		
											
entity and the operating entity for the stormwater system in Reunion are the CDDs.  There are a		
number	of permits that were never followed through with in transferring them to the operating		
entity.  They have determined in an effort to	streamline the cleanup that any permits that don't		
										
specifically deal with ponds or major structures they are just dealing with conveyance systems		
that they will allow them to be transferred to the				
								operating entity administratively.  The District		
has been operating these systems for more than ten years even though the permit had never been		
formally	transferred.  There are seven of these sub-permits that strictly dealt with conveyance		
			
systems and those are	included	in	the agenda.  They do have to be revised, the name of the entity		
						
should be the Reunion East Community Development District not Governmental Management		
Services but I would ask the Board to ratify	my execution	of these.  There are other permits that		
do  involve more  than conveyance	systems,  they  involve  ponds  or  structures  and they  sent		
								
separate letters on those.	I sent them to Steve, they require a certification from Steve and he is		
going to	have to go through the review and certification	of those systems before they can be		
transferred and he is working on those.						
	On MOTION by Mr. Harding	seconded by Mr. Goldstein with all in		
	favor								
												
	execution of the transfer of the seven environmental resource		
	permits was ratified.								

SIXTH

ORDER

OF

BUSINESS

Discussion	of Heritage Crossing Community	
Center  Management   Services   Agreement	
(MSA)		

	Mr.	Flint:  The MSA agreement has taken a backseat to the change in ownership of the		
Resort.	It	is probably not a high priority of the new owners, but we do have consistency with		
Kevin Baker being involved	previously and now.	I believe the Chairman has reached out to		
						
Kevin Baker and						
		provided him with the most recent draft and we will try to keep that moving		
forward.							
	Mr.	Greenstein:  According to Kevin they are eager to enter into the agreement and use		
the stables	as well as this facility.	I'm hoping that within the next 60 to 90 days working with		
the new owners we will get that	agreement in place and it will benefit the CDD.		

6

February 21, 2019	Reunion East CDD		

SEVENTH ORDER

OF

BUSINESS

Discussion

of

Revised Special Events Policy

Mr.	Flint:	At the last couple	of meetings the Board has talked	about the special events		
policy.  We discussed some potential changes that I tried to incorporate into this revised draft.  I		
have limited the definition of	a special event more to the use of the facilities that are identified in		
Exhibit A, which are the Districts pool facilities including the pavilion at the Terraces. We define		
a special event for purposes of this policy as a gathering of 20	or more persons but not greater		
than the capacity that is indicated on	Exhibit A for each facility.	If there are	20 or more persons		
that want to use a specific facility up	to the capacity they have to follow	this policy and apply for		
a special event permit and they would have to put a deposit down.  Right now it is drafted where		
it only requires a deposit that is refundable.  If the Board wanted to charge that is not in here but		
it is not uncommon for many	communities to actually charge a fee to reserve a pavilion or pool.		
							
Right now	it provides that a deposit	be made, you have to go through	this	process, reserve the		
facility  and submit the  application at least two weeks in advance of	the	event.	It has to be		
reviewed by staff	and if approved they can use the facility.								
Mr.	Harding:	I	think the deposit should be refundable.  It	is their facility.			
Mr.	d' Adesky:	The offsetting argument is that there is some administrative cost for this		
guy having to review those.											
Mr.	Flint:	Also there is wear and tear on the facility.  You can start with doing a deposit		
only and later if you want to	put a fee in place we can do that.	It is the	Board's discretion on		
how you want to handle that.											
Mr.	Greenstein:	Let's	start it	off this way and if	we see actual use	or	abuse costs that we		
didn't identify upfront we can revisit this.									
Mr.	Flint:	The intent is not to increase the use	of the facilities,	the	intent is to have a		
process to  follow that can be enforced because they  are already  having  birthday parties and		
things like that.  I	also make it that landowners, residents or non-resident	user fee payers are the		
ones that can reserve it.  Obviously, you don't want the general public to be able to come in and		
reserve.  On the pools I kept the capacity for the special event at two-thirds	of the legal capacity		
so the special event	doesn't take up the entire pool facility and other residents not being able to		
enjoy the use of it.	The only exception to that is the pavilion, which if someone is going to		
reserve the pavilion at the Terraces it	has to be exclusive.								
Mr.	Harding:	I	recommend that when a permit is accepted that our security people have		
it as well.															

7

February

21,

2019

Reunion

East

CDD

Mr. Flint:  The applicant will be required to have a copy with them and we will also make	
sure security has it and if for some reason security doesn't have it the permit holder has to be	
able to demonstrate when security comes that they have the right to use the facility.	
Mr.	Harding:  It talks about the Osceola County Sheriff and fire rescue.  What about our	
own security people being able to terminate a situation that is out of control?	
Mr.	d' Adesky:  We can add that.  Clearly, we could if it was a health and safety concern	
so we will add that provision.  We would count as any other official having jurisdiction but I will	
make it clear.	
Mr.	Harding:  We need to get this document out through lifestyle so they can publish it to	
all of the Reunion owners so they are aware.  I can follow-up with Oraine or David on that.	
Mr.	Dryburgh:  I assume it says in here that you are not allowed to do illegal activities.	
Mr.	d'Adesky:  Yes.	
Mr.	Flint:  The Board could approve the policy subject to incorporation of the security	
provision to terminate events, the requirement that the permit be available at the event and the	
permittee have a photo ID, the permit will be provided to the security company.	
	On MOTION by Mr. Harding seconded by Mr. Greenstein with all	
	in favor the special events policy was approved subject to changes	
	as outlined above.	

EIGHTH ORDER OF BUSINES

Consideration	of	Website    Compliance	
Proposal from VGlobalTech	

Mr. Flint:   There is  a proposal from  VGlobalTech to review and bring the District's		
website in compliance with ADA		
	requirements.  There have recently been a number of lawsuits		
brought against	governmental entities claiming their websites are not ADA compliant.   As a		
			
result it did bring to light the fact that most if not all CDD websites as well as most cities and		
counties were not ADA compliant.  Part of the settlement with the District's insurer is that we		
would become compliant within two years and we reviewed a number of options and this is the		
most cost effective and we have used them in all of our other Districts and feel comfortable that		
for the cost they would do a good job.		
On MOTION by Mr. Harding seconded by Mr. Greenstein with all		
in favor the proposal from VGlobalTech for website compliance in		
the amount of$1,950 was approved.		

8

February 21, 2019

Reunion

East CDD

NINTH ORDER OF BUSINESS	Staff Reports

A.	Attorney

i.

Update on Third Supplemental Assessment Allocation Report for Unexchanged Bonds

Mr. D' Adesky:	I spoke to supervisors on an individual basis regarding this matter and as	
most know there has been a change in ownership and as these assessments run with the land they	
now will be binding on the new owner.	We just last week got more information on the new	
owner, got their attorney's information, we tried to  make contact with them, we spoke with	
Trustee's  Counsel  as	well  as  Counsel  for  LRA,  which  technically  no  longer represent  the	
landowner.  In light of	those circumstances all parties agreed to push this off to March that would	
be a more appropriate date to give us more time to reach out.  Once again all the considerations,	
all the amounts do not change it runs with the land.	

B.

Engineer

Mr. Boyd:  On County Road 532 there is a directional signage issue.	I started with the	
County  Engineer,  he  directed  me  to  the  Director  of Transportation  and  then  his  assigned	
Engineer.  This exhibit I	handed out prior	to the meeting is a conversation starter and won't	
allow  any  advertisements,  pure  directional  in  nature,  something  to  the  effect  of 'Reunion	
Boulevard Next Signal'.	That kind of dictates where they	go	if you want to put that before	
another signal.	I gave that to the County as this is what	we	would like to investigate, their	
response has been positive they said they would conduct a site visit this week and will take up	
the cost and install.	I am asking that they get back to us before they install that.  They may	
proceed prior to the next Board meeting but	if you want me	to,	I will have them hold off until I	
can bring something back to show you.					
Mr. Flint:	I wouldn't have them hold	off maybe the Chairman could approve it.	
It was the consensus of the Board to authorize the Chairman to sign	off on the signage	
prior to the next meeting.						

C.	Manager

i.	Action Items List

Mr. Flint:  You have the action items list.  We talked about the MSA.

give an update on the transponders?

Do

you

want

to

9

February 21, 2019

Reunion East CDD

Mr. Cruz:  We are about 90% done, we had some issues, the folks in the Terraces didn't	
get any notice on the changeover but we have been taking calls and getting everybody at the	
Terraces set up.  We are up and running.			
Mr. Flint:  Steve has talked about the signage on 532 approaching Reunion Boulevard.	
The repainting of the signs; in addition to repainting the signs we need	to make sure it includes	
replacement of the face of those signs.			
Mr. Scheerer:	I didn't see the document and I believe most of	those have already been	
replaced and I will verify that.			
Mr. Harding:	I would like John to go through the community and gives us any	other	
recommendations he has for adding more and tell us where you think	they are needed.	I had	
complaints from some people that one of the signs we removed from Excitement we moved to	
Reunion and they didn't like that.			
Mr.  Cruz:   We talked  about putting  one  back  on Excitement,  but we just moved it	
because we had somebody who wanted it there.			
Mr. Harding:  Come back to the Board with recommendations on speed signs.		

ii.

Approval

of

Check Register

Mr.

Flint presented the check register for January

On MOTION by Mr. Greenstein seconded in favor the check register was approved.

in the amount of

by Mr. Harding

$2,824,666.55.

with all

iii.

Balance Sheet and Income Statement

A copy of the balance sheet and income statement were included in the agenda package. No Board action was required.

iv.

Status

of

Direct Bill Assessments

A copy

of

the

status

of

direct bill assessments was included in the agenda package.

TENTH

ORDER

OF

BUSINESS

Other Business

There being none, the next item followed.	
ELEVENTH ORDER OF BUSINESS	Supervisor's Requests	
There being none, the next item followed.	

10

February 21, 2019

Reunion East COD

TWELFTH

ORDER

OF

BUSINESS

Next Meeting Date

The next meeting date is March 14, 2019 at 1:00 p.m.

THIRTEENTH

ORDER

OF BUSINESS

Adjournment

On MOTION by Mr. Harding in favor the meeting adjourned

seconded by Mr. at 2:15 p.m.

Greenstein

with

all

Secretary/Assistant Secretary

ChairmanNice

Chairman

11

SECT·ION

IV

REUNION COMMUNITY DEVEL

EA~'
MENT  DIS~

, JCT

FINANCIAL  REPORT

Year

En

d _September

30,

,?0'1,8

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT TABLE OF CONTENTS

Year Ended September

30,	2017	

I.

Financial Section:

Independent Auditor'sReport

Management Discussion and Analysis

Financial Statements:

Government-Wide Financial Statements:

Statement of Net Position

Statement of Activities

Fund Financial Statements:

Balance Sheet - Governmental Funds

Statement of Revenues, Expenditures arxi pt'langesin Fund Balanqes":-

Governmental Funds

Reconciliation of the Statement of Rev~maes, Ejc4SeJllditures and

Changes in Fund Balances of Gover~,l?unds

to the Statement of AcJivities

Statement of Revenues, ~~'ntfituresand Cli8(lg'esin Fund Balance -

Budget and Actual - Ger,et~l~cf

Notes to Financial Statements

Page

1 3

7 8

9 1O

11

12 13

II.

Compliance Section:				
Independent	ontrol over Financial Reporting and	on		
Auditor'1{13.eport-qnInternal				
Compliance ang,,Other Matt~rs Based	ri\an Audit of Financial Statements			
Perfor~d lb Accordafloe with. Gove~ent Auditing Standards			
Management ComQ18f1JS				
Independent				
Accou~nts;F{eport on Com-pliance with the Requirements			
of-5'e~n21-8.415,r!or_ida Statutes				
Resf>gnse to the-ti,,1§inage~rit-Comments				

29 31

35 36

1\/ICDIRMIT

Ill

DAVIS

CERTIFIED

PUBLIC

ACCOUNTANTS AND ADVISORS

INDEPENDENT

AUDITOR'SREPORT

To the

Board

of

Supervisors

Reunion East Community Development District				
We have audited the accompanying financial	statements of ..tfl~>governmentat,attiyities and each		
major fund of the Reunion East Community Development-Olsfrict (the "District"),~s'of and for the		
year ended	September	30,  2018,  and  the	related	J(ot;es	to the, financial  state.rr)Emts,  which		
							
collectively comprise the	District'sbasic financial sta	ehts	as lisieci)n the table of contents.		

Management'sResponsibility for

the

Financial Statem,emfi

The	District's management  is	responsi~		f6r	the  preparatiqn ·c1nd fair presentation of these		
financial	statements in accordance with		· a5~ pr.lnciples ~ne.rally accepted	in the United		
States of America; this includes the design,		implem~tati61'ltand maintenance of internal control		
relevant to the preparation and fair	presentat			
		n\ pf	fu=(a_pcia1-st@tEjments that are free from material		
misstatement, whether due to fraud-or error.							~			
Auditor'sResponsibility																
Our	responsibility is to~xpi:ess an,opir"l'lonon-tt;ies,-					
conducted		our audit in ~d.tnpe with	atl6iitif.lg	,financialstatements based on our audit.  We		
				standards generally accepted	in the United		
States of America and the ._stariaards applicable to financial audits contained  in	Government		
Auditing	Sta~aJJis, lssued by ,the,	Comptroller General of the United States.  Those standards		
require th.rt we plan a~	perform the audit to obtain	reasonable assurance about whether the		
financi,al"st;atements are f	e from ma!,erial misstatement.				
An  audit ¾lvblves	performing!	procedures		to		obtain  audit  evidence  about  the  amounts  and		
disclosures		iQ  th~  financial .statements.			The	procedures  selected  depend  on  the auditor's		
judgment,	incl~iri'S;;Lthe  ~ssessment  of the  risks  of material  misstatement  of  the  financial		
statements,	whe~r'<tu,,e-	to fraud  or error.		In making those  risk  assessments, the  auditor		
considers internal	cOQ.tfol relevant to the	entity'spreparation and fair presentation of the financial		
statements		in order to design audit procedures that are appropriate in the circumstances, but not		
for the purpose of expressing an opinion	on	the	effectiveness of the entity's internal control.		
Accordingly, we express no such opinion.	An					
		audit also includes evaluating the appropriateness		
of accounting principles 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 basis for our audit opinions.

is

sufficient and appropriate to provide a

McmRMIT

DAVIS

&

COMPANY,

LLC

TELEPHO

934 NORTH MAGNOLIA NE : 407-843-5406 FAX: 407

A VENUE, SUJTE

-{i49-9339 EMAIL

100 ORLANDO, FLORIDA : INFO@MCDIRMITDAVIS

328	03	
.COM	

MEMBERS: PRIVATE COMPANIES PRACTICE SECTION

AMERICAN

lNSTlltITE

OF

CERTlflED

PUBLlC ACCOUNT ANTS

FLORIDA

lNmTUTE

OF

CERTIFmD PUBLIC ACCOUNTAITTS

1

Opinions								
In our opinion, the financial statements referred to above present fairly, in all material respects, the	
respective financial position	of the governmental activities, and each major fund	of the District as	
of  September  30,  2018,  and  the  respective  changes	in  financial  position  thereof  and  the	
respective budgetary comparison for the General Fund for the year then ended in accordance	
with accounting principles generally accepted in	the United States of America.		
Other Matters								
Required Supplementary Information						
Accounting  principles  generally accepted  in	the  United	States -:-at, ~rtierica	require  that  the	
management'sdiscussion and analysis starting	on page 3,	be p~~ented 1Q Supplement the basic	
financial statements.  Such information, although not a part .ef'>thebasic fi~nhial statements, is	
required by the Governmental Accounting Standards Boai:d,, Who considers it'\()he an essential	
part of financial reporting for placing the basic financial ~tements in an approp~te'--9perational,	
economic or historical context.   We  have applied -re!,tain  limited'.procedures to -the  required	
supplementary information in accordance with auditing_ standards/gerierally accepted in the United	
States of America, which consisted of inquiries of man~.	t a'hout the methods of preparing	
the information and comparing the information for consis  nc~~~ith management'sresponses to	
our inquiries, the basic financial statements-,-af.ld other kno	1ge. we obtained during our audit of	
the basic financial statements.  We don~  e:X-R(ess-an opinion~r'µrovide any assurance on the	
information because the limited procedures d~	no1-pcpvlde. us wit:t.i.yofficient evidence to express	
an opinion or provide any assurance.						
Other Information								
As discussed in Note 7	9, fhe fina11ci1:3I	statem~nh;, the Prior Developer had not paid certain	
special assessments i~ prior years,  M;.	a re~ult, '11ft' District was unable to make all of the debt	
service payments due lq the, curfept amt Q[ior 9'ears. The District filed for foreclosure on the	
special assessment lien	o~	the,,.Prior Developer'sproperty within the District.	The foreclosure	
resulted in a j~r . it	for	OR;erations and maintenance assessments only.  A Special Purpose	
Entity ("SPE''twasforr:Q_ed,a	nd te91{'titleto land by tax deed.  The land was sold in a previous year	
and the .SJ3E was volun~rily dissqlv~d.   The Series 2002A and 2005 Bonds continue to be	
delinqi(ent"'dueto unpaid a	e'ssmentsfrom the Prior Developer.		

Other

Rep~ihe,

Required

by

Government Auditing Standards

In accordance with Golkmment Auditing Standards, we have also issued a report dated ___ , 2019, on our consideration of the District'sinternal control over financial reporting and 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 the interna l 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.

1$/lwnit~

&

~~LLl

___

,2Q1Q,

Orlando, Florida

2

MANAGEMENT'S DISCUSSION  AND  ANALYSIS

Our discussion and analysis of the	Reunion  East  Community Development  District,		
County, Florida's(the "District'')financial	accomplishments provide	an	overview of the		
financial activities for the year ended						
	September 30, 2018.  Please	read	it in conjunction		
District'sIndependent Auditor'sReport, financial statements and accompanying notes.		

Osceola

District's

with the

This			
information is being presented to provide additional	
		information regarding the activities of the	
District and to meet the disclosure requirements of Government Accounting Standards Board	
Statement (GASB) No. 34,	Basic  Financial	Statements - and Managem~nt's  Discussion  and	
Analysis - for State and Local Governments issued June 1999.	
Financial Highlights			

•

•

The  liabilities  of  the  District	exceeded  its  asseft at	Se~ember  30,  2018  by		
$13,333,422,	an increase in the net deficit of $9!9,}628 in	com~rlSo_n with the prior		
year.						
At September	30, 2018, the District'sgovemtnj!lrital funds reported a CQ,JTV)ined deficit		
fund	balances of $1,510,316, a decreas~"of,,$1,483,2i4jn	comparison with the prior		
year.				

Overview

of

the Financial Statements

This				inte~d~d--tQ sef\le as an ~	~uction to the Reunion East		
	discussion and analysis are				
Community Development District's			
					fina'1cl~Istatements •. ,Ihe---t>istrict'sfinancial statements		
are	comprised  of three  components: !) -			
financial	statements	and	3) oote.&	govemJ11em~id~- financial  statements,  2) fund		
				to the fii,anai'aj:-statements.			
								
Government-Wide FinanaiaJ,Statements			

The	government-'1it~de,financial statements a~-'designedto provide readers with		
overview of the	in a -marmef similar to a private-sector business.		
	Distrl~t's.nanges,fi			

a broad

The  statet1iE1J}t	of net p~ition	presents  information	on	all  of the  District's assets and		
liabilitiet, with the						as	net position.  Over time, increases		
or	in	'djff~ence~etv(eenthe two reported				
		net Pl!lSition	maY, ~rve as a useful indicator of whether the financial position		
detr;eases					
of ~e 6>.jstrict	is	improv  g\or deteriorating.						
The sta~er,t of activit1e,s presents	information showing how the government'snet position		
changed							
											
dl:f{in'gJheQio~ recent fiscal year.  All changes in net position are reported as soon		
as the underfy"nl}Efvent giving rise to the change occurs, regardless of the timing of related		
cash flows .  Hi	s, revenues and expenses are reported	in this statement for some items		
that will result	in	cash flows	in future fiscal periods.				
The  government-wide  financial	statements  include	all	governmental  activities  that  are		
principally supported by special assessment revenues.  The District does not have any		
business-type	activities.	The	governmental	activities	of  the  District  include  general		
government,  physical environment,  culture  and	recreation,  public safety and  roads and		
streets related functions.							

3

MANAGEMENT'S DISCUSSION  AND  ANALYSIS  (CONTINUED}		
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		
fi·nance-related legal	requirements.   The District has one fund category:   Governmental		
Funds.				
									
Governmental  Funds -	Governmental funds are used to accodri,t, for essentially the		
same functions  reported			
	as	governmental	activities	in  the  gdv~hment-wide financial		
								
statements.  However, unlike the government-wide financial statements, governmental		
fund  financial  statements  focus  on  near-term  inflows ·~d  c:ru~ows  of  spendable		
resources, as well as on	balances of spendable resou ..~ ava~b)e, at the end of the		
fiscal year.  Such information may be useful in evaluafl1;1g- a District's ear-term financing		
requirements.									
Because the focus of governmental funds is	arrower	thanthat of the government-wide		
financial statements, it is useful to compare'tqe~infor	ati9n presented for governmental		
funds with similar information presented for	go~ITI.l11'e_ptalactivities in the government-		
wide financial statements.  By doing	so, readers ~a¥	better understand the long-term		
impact of the	government'snear-tenn-fir)ancing dec~oh~.  Both the governmental fund		
balance  ~heet and the gove~mE\11~	f!Jna: _s.t~emenl ,p~' reven_ues, exp~nditures and		
changes 1n fund balances provide ~ re.conCH~t,on·to fac111tate this comparison between		
governmental funds and governmen~I ~ctiviHe~,	,		

The District separately in of revenues, service fund,

maintains .,.~~ m~ividual governmental funds.	Information is presented		
the					
grav~mentel (und bal¥oe sheet and the governmental fund statement		
expepditures  an~	1	changes ih, fund  balances for the general fund,  debt		
				
~d capital pr.eieGts ft1nd,.all aj'/which are considered to be major funds.		
		7			

The District adopts	n	annual approprfated budget for its general fund.	A budgetary	
comparison sche.oule'\aS'beenprovided for the general fund to demonstrate compliance	
witt;1t}e·budg'et				
Notes	nts			

The no~ provided in

p,:ovide addi 1o,nal information
e'govemfneht-wide and fund
.	'

that is essential to a full financial statements.

understanding

of

the data

Government-Wide,f'ipancialAnalysis		
Statement of Net Position - The District'snet position was $(13,333,422) at September 30,	
2018.  The analysis that follows compares the net position	of the District'sgovernmental	
activities at September 30, 2018 and September 30, 2017.		

4

MANAGEMENT'S DISCUSSION  AND  ANALYSIS  {CONTINUED}

Government-Wide Financial Analysis (Continued}:

Reunion East Community Development District

Statement of Net Position

Assets, excluding capital assets Capital Assets Net of Depreciation

Total assets

Liabilities, excluding long-term liabilities Long-term Liabilities

Total liabilities

September 30, 2018 $

62,953,073

September 30,	
	2017	
$	7,136,208	
	44,549,692	
	51	,685,900	
	8,480,558	
	55,599,136	
	'64,079,694	

Net Position:

Net Investment in capital assets

Restricted for capital projects

Unrestricted

Total net position

(U(1$,815)		(14,739,444)	
9				9	
1823384			2,345,	641	
(13.333.422	)	$	(12,393i794)	

The following is a summary of September 30, 2018 and 2017.

the

Distr~'&govemm~mal,

actiVities

for

the

fiscal

years

ended

Revenues: Program revenues General revenues-

Totatrf}venues

Exitens_es: ~raL~overnrnent Phys' I enyironrnent Culture aqd re~reation Public safely Roads and str~ts Interest on long-term debt

Total expenses

Change in net position Net position - beginning Net position - ending

boanges ii, r•ef Position				
Yl8ar ended Se~t~mber 30,				
		2018		
$		6,471,679		
		97 369		
		6.5691048		
		164,427		
		3,122,514		
		683,892		
		84,000		
		118,870		
		3,334,973		
		7,508,676		
		(939,628)		
	(12,393,794}		
$	{1	3,333,422)		

	2017		
$	6,430,199	
	119 737	
	6,549,936	
	206,871	
	3,031,349	
	668,163	
	88,200	
	41,305	
	3,421	,358	

	7,457,246	
		(907,310)	
	(11	,486,484}	
$	(12 393	794 l	
		1	1	

5

MANAGEMENT'S DISCUSSION  AND  ANALYSIS  (CONTINUED)

Government-Wide Financial Analysis {Continued):

As noted above and in the statement of activities, the cost of all governmental activities during the year ended September 30, 2018 was $7,508,676. The majority of these costs are interest on long-term debt and physical environment expenses.

Financial Analysis

of

the Government'sFunds

The District uses fund accounting to ensure and demonstrate compliara6¢,with finance related	
legal requirements.  The focus of the District'sgovernmental funds is1q,.provide information on	
near-term inflows, outflows and balances of spendable resources. -Such information is useful in	
assessing the	District'sfinancing requirements.	In particular, -011,a~ned fund balance may	
serve as a useful measure of a government'snet resources a~a)able for,spe,nding at the end of	
the fiscal year.  At September 30, 2018, the District'sgo~mental funchi reported combined	
ending  deficit  fund  balances  of $1,510,316.	Of this j(:jtal,  $10  is  res¥~ct , $41,706  is	
nonspendable and the remainder of	$(1,552,031) is afi l,ffiassigned deficit bala~..		
The  fund  balance  of the  general  fund  increa~··$226,~,, due to  assessment  revenue		
exceeding	expenditures.  The debt service fund d~reaie~/-$1,709,566 due to higher debt		
service payments compared to assessment revenue.  T~e Cl;lpital projects fund balance did not		
change significantly.				
General Fund Budgetary Highlights				
An operating budget was adopted and ~a'intaf lJEid	by the'governing board for the District		
pursuant to the requirements ofFJorida ~ab~tes.	The budget is adopted using the same		
basis of accounting that1~,usect;n	~reparafipripf the fund financial statements.  There were		
				
no budget amendmen\;;,to the Sepfember 3~. 2018 general fund budget.  The legal level of		
budgetary control~ at the fund~v:el.			
Capital Asset and Debt A'dplilfi,ttation			

Capital ,,A,sets - ~t S~pte~r. 30, 2018, the District had $42,308,487 assets,_,net of accumb!Jafed de~c)~tion. More detailed information about as~ts1 ts presented in t~e riotes to/the financial statements.

invested in capital the District'scapital

Capital {)ebj	-	At Septenjber 30, 2018, the District had $57,335,000 in	
including ~590,000 in ryiatured bonds payable.  More detailed information	
capital debt 1s		res.¢ft~d in the notes to the financial statements.	

bonds about

outstanding, the District's

Requests for Information

If you have questions about this report or need additional financial information, contact the Reunion East Community Development District's Finance Department at Governmental Management Services- CF, LLC, 135 W Central Blvd, Suite 320, Orlando FL 32801.

6

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT

STATEMENT

OF

NET POSITION

September

30,

2018

Assets: Cash I nvestrnents Due from Reunion West Assessments receivable Other receivables Prepaid costs Restricted assets: Temporarily restricted investments Capital assets: Capital assets not being depreciated Capital assets being depreciated, net

Total assets

Liabilities: Accounts payable and accrued expenses Matured bonds payable Matured interest payable Accrued interest payable Noncurrent liabilities: Due within one yea( Due in more than on~eai:

Total liabilities.

Net Positio'h;,,

Net ~oiks,tment in capital a~ Restr'IG,tecHorcapital projec Unrestri~d'

Total net~tipn

Governmental	
	Activities	
$	1,316,089	
	3,047,305	
	136,330	
	16,914	
	7,128	
	41,706	
	2,745,692	
	'	
	3,620,313	
	38,688,174	
	49,619,651	
	83,276	
	4,590,000	
	4,148,204	
	1,256,291	
	2,845,000	
	50,030,302	
	62,953,073	
	(15,156,815)	
	9	
	1,823,384	
$	(13,333,422)	

The

accompanying

Notes

to

Financial

Statements

are

an

integral

part

of

this

statement.

7

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT STATEMENT OF ACTIVITIES

Year Ended September

30,

2018

Functions/Programs

Governmental activities:

General government

Physical environment

Culture and recreation

Public safety

Roads and streets

Interest on long-term debt

Total governmental activities

				Net (Expense)		
				Revenue and		
				Changes in Net		
		Program Revenue	Position		
			Operating,<;r;mts			
		Charges for	ah~	Governmental		
	Exeenses	Services	Co'htritiµtlons	Activities		
$	164,427	$	$	(84,035)		
	3,122,514			(1,595,851)		
						
	683,892			(349,523)		
						
	84,000			(42,931)		
						
	118,870			(60,752)		
						
	3,334,973		29,338	1,096,095		
						
$	7,508,676	$	29,338	(1,036,997)		

Total general revenues Change in net position

$

49,822 47,547

97,369 (939,628) (12,393,794) (13,333,422)

The accompanying Notes to

Financial

Statements are 8

an

integral

part

of

this statement.

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT

BALANCE SHEET GOVERNMENTAL FUNDS

September 30,  2018

Assets: Cash Investments Due from Reunion West A$sessments receivable Other receivables Due from debt service fund Prepaid costs Deposits

Total assets

							Total		
					Capital	Governmental		
	General	Debt Service		Projects		Funds		
$	1,316,089	$	-	$		$	1,316,089		
	3,047,305		2,745,683		9		5,792,997		
									
	136,330		• ;.,				136,330		
									
			1Y14				16,914		
	7,128						7,128		
									
	5,573						5,573		
							41,706		
$	4,554,131	$'-	2,f6;¾597	$	9	$	7,316,737		

Liabilities and Fund Balances:

Liabilities: Accounts payable and accrued expenses

Due to General Fund l'v1aturedbonds payable l'v1aturedinterest payable

75~4

\75J~24

$

a:4;5P ~.573 :.\;590,000 4,148,204

8,751,929

$

$

83,276 5,573 4,590,000 4,148,204

8,827,053

Fund balances:	
Nonspendable	
Restricted:		
Capita~	~	
Unassi0fief		
Tdla!	

liabilities

and

funp

balances

	'41,706		
	4,437,301		
	4,479,007		
$	4,554,131	$	

		9	
(5,989,332)			
(5,989,332)		9	
2,762,597	$	9	

41,706

9 (1,552,031)

(1,510,316)

Amounts reported

r gqv.d'rn,nentalactivities

In

the

statement

of

net position are different because:

Capital assets used in ~vep,mental activities are not financial reported in the funds.

resources

and

therefore

are

not

42,308,487

Liabilities not due fund statements. statements.

and payable	from	
All liabilities,	both	

current current

available resources are not and long-term, are reported

reported in the governmental in the government-wide

Accrued interest payable

Bonds payable

Net Position of Governmental Activities

(1	,256,291)		
(52,875,302)	(54,131,593)	
	$	(13,333,422)	

The accompanying Notes to

Financial Statements are 9

an

integral part of this statement.

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT

STATEMENT

OF

REVENUES. EXPENDITURES AND CHANGES GOVERNMENTAL FUNDS

IN

FUND  BALANCES

Year Ended  September

30,

2018

Revenues:

Special assessments

Rental income

Investment income

Miscellaneous revenue

Total revenues

Expenditures:

Current:

				Capital	
	General	Debt Service	Projects	
$	2,040,611	$	4,401,730	$	
	42,435				
	49,822		29,338		
	5,112				
	2,137,980		4,431,068		

Total

Governmental

Funds

$	6,442,341	
	42,435	
	79,160	
	5,112	
	6,569,048	

General government

Physical environment

Public safety

Culture and recreation

Roads and streets

Debt Service:

Interest

Principal

Total expenditures

Excess (Deficit) of Revenueseviu'

Expenditures

Net change in fund balances

Fund Balances - beg!~ cif-yaar

Fund Balance~- e,nd of year

143,607		-20,820				164,427		
								
						1,443,008		
						84,000		
						122,193		
						118,870		
		2;404~				3,404,814		
		2,715,000				2,715,000		
,1,911,678		6,140,634				8,052,312		
								
		(1,709,566)				(1,483,264)		
		(1,709,566)				(1,483,264)		
4,252,705		(4,279,766)		9		(27,052)		
4,479,007	$	(5,989,332)	$	9	$	(1,510,316)		

The accompanying

Notes

to

Financial Statements are an

integral

part

of

this statement.

10

REUNION  EAST COMMUNITY DEVELOPMENT DISTRICT

RECONCILIATION CHANGES IN

OF	THE	STATEMENT OF  REVENUES, EXPENDITURES  AND	
FUND  BALANCES  OF  GOVERNMENTAL  FUNDS TO  THE	
	STATEMENT OF  ACTIVITIES	

Year Ended September

30,

2018

Amounts reported for Governmental Activities in the Statement of Activities are different	because:	
Net change in fund balances - total governmental funds (page 10)		

$

(1,483,264)

Depreciation on capital assets is not recognized in the governmental fund statement, ho~vetit is		
reported as an expense in the statement of activities.			
Repayments of long-term liabilities are reported as expenditures in governmer)hi'fynds,while repa~~		
reduce long-term liabilities in the statement of net assets.			
Repayment of bonds payable			
Some expenses reported in the statement of activities do not require tti~,us~-0f	.eti~l'ltfinancial		
resources and, therefore, are not reported as expenditures in governmental~:		
Change in accrued interest	61,007		
			
Amortization of bond premium	8,834		

(2,241,205)

2,715,000

69,841

$

(939,628)

The accompanying Notes to Financial

Statements are

an

integral

part

of

this statement.

11

REUNION  EAST COMMUNITY  DEVELOPMENT DISTRICT

STATEMENT OF

REVENUES, EXPENDITURES BUDGET AND ACTUAL -

AND CHANGES GENERAL FUND

IN

FUND  BALANCE

Year Ended September 30,  2018

Revenues:

Special Assessments

Rental Income

Investment Income

Miscellaneous Revenue

Total revenues

							Variance with		
							Final Budget		
						Act.1,1al		Positive		
	Budseted Amounts			Al}lo~rits		(Negative)		
	Original		Final							
										
$	2,015,412	$	2,015,41i?		$	2;040,611	$	25,199		
	22,735		~2,~	'		4~l435		19,700		
										
	10,250		/1Q;,250			~22,		39,572		
	5,368		5,368			5,1~		(256)		
	2,053,765		2,053,76			2,137,980		84,215		

Expenditures: Current: General government Physical environment Public safety Culture and recreation Roads and streets

Total expenditures

170,078	
t;5~220-	
84,ocra	
1~2	
'47,	1/	

1~0:0i'.8	
1,51~0'	
.84,0(J(t	
144J)OO	
-	/	
47,040	
1,958,338	

143,607	26,471	
1,443,008	70,212	
84,000		
122,193	21,807	
118,870	(71,830)	
1,911,678	46,660	

Fund Balance - beginning Fund Balance-~~

	,·		95,427		226,302		130,875		
									
	4,252,705		4,252,705		4,252,705				
$	4,348,132	$	4,348,132	$	4,479,007	$	130,875		

The accompanying Notes to Financial Statements are an integral

part

of

this statement.

12

	REUNION  EAST COMMUNITY DEVELOPMENT DISTRICT		
	NOTES  TO  FINANCIAL  STATEMENTS				
		Year Ended  September 30,  2018				
Note 1 - Summary of Significant Accounting Policies:						
Reporting Entity									
The  Reunion  East  Community  Development  District,	(the  "District"1	).Vas  established  on	
September 24,  2001  by	County  Ordinance  01-31,  pursuant to	111J:''	Uniform Community	
Development District Act of 1980, otherwise known as Chapter 100, Florida Statutes.  The Act	
provides,  among  other  things,  the  power  to	manage	~s}e	~'n(ices for  community	
development, the power to borrow money and issue bonds, (n~Hhe	p~e'r,to levy and assess	
non-ad valorem  assessments for the financing and  de~ry of capital ~nfrastructure.   The	
District  was  established  for  the  purpose  of  finaneiqg· and  managing  ~ acquisition,	
construction,  maintenance  and  operation  of a  port1gn'of	the  infrastructure ,ne,cessary  for	
community development within the District.							
The District is governed by the Board of Supervisors (the ~ard"),	which is composed of five	
members.  The Supervisors are elected on an at	la~	basis by the owners of the property	
within the District.  The Board of	Supenn&}r;s of the Distriot e,c~rcises all powers granted to the	
District pursuant to Chapter 190,	Flori~ St~fes,,.	~t Septe~be.r: 30, 2018, none of the Board	
members were associated with Ginn-L{- OrlandQ	Utt;;,-	LLP	~rfor	Developer''),three	of the	
Board members are affiliated with EHOF\ Ac.~uisiti6r;is -U.,	_LLC)("current Developer'').In	a prior	
year, the District initiated foreclosure proc~din&r.,,against the	prior Developer.  The Trustee, on	
behalf of	the bondholders,1~ fLADdir:ig the C\)Sts,'associated with the foreclosure litigation (see	
Note 7).	The District is,et_91iomically1dependEtnf\on	the current Developer.			

The

Board has fina~responsibili ffor-i

1. Assessing and lev,v.ing~ssessments.

2.

Ap~roving~gets.

·,

.

Exercising

contro1

O'(erfacmties

and properties.

4.

CG{lfrolling the u

pf

funds generated by the District.

5. 6.

Appro

Financing

l~ µiring and firing improvements.

of

key personnel.

The  financial  statements  were  prepared	in  accordance  with  Governmental  Accounting	
Standards  Board  ("GASS")  Statements  14,  39  and  61.	Under the  provisions  of those	
standards, the financial reporting entity consists of the primary government, organizations for	
which the District Board of Supervisors is considered to be financially accountable, and other	
organizations for which the nature and significance of their relationship with the District are	
such that, if excluded, the financial statements of the District would be considered incomplete	
or misleading.  There are no entities considered to be component units of the District; therefore,	
the financial statements include only the operations of the District.	

13

REUNION  EAST COMMUNITY DEVELOPMENT DISTRICT

NOTES

TO

FINANCIAL  STATEMENTS  {CONTINUED )

Year Ended September

30,

2018

Note

1

- Summary

of

Significant Accounting Policies (Continued):

Government-Wide and Fund Financial Statements							
The financial statements include both government-wide and fund financie'f~tatements.		
The government-wide financial statements (i.e., the statement of ~	position and the statement		
of activities) report information on all of the non-fiduciary activit"8s,of th'e,primary government.		
For the most part, the effect of interfund activity has	been re.rn(>y,ed from	~ ,e statements.		
The statement of activities	demonstrates the degree t0\yhfch the direct e~nses of a given		
										
function or segment is offset by program revenues.	,Di1yfct expenses are those,that are clearly		
identifiable with	a specific function  or segment.	Rrogram  refepues	include	1f charges to		
customers who purchase, use, or directly benefit-f(om goods, $9rvices,	or privileges provided		
by a given function or segment, 2) grants,	contrib4_ti6ns ~n'd investment earnings that are		
restricted to meeting the operational or capital	require~nts,of a particular function or segment		
and 3) operating-type special assess~efits-tt,at are treate<_:1 as, charges for services (including		
assessments for maintenance and de~t 'seQ{lce~:--	Other iteQ1s" not	included among program		
revenues are reported instead as genera/ tttvenaa.s,	'						
Measurement Focus, Basis	of-Accounting, ahd'F,itiancial Statement Presentation		
The  government-wide 1ipancial  s~tements  are  reported  using  the	economic  resources		
measurement	focusllf'n~Hheaccrua(basis of aq_coµnting.  Revenues are recorded when earned		
				
and expenses aret-4:corded wheil a~iability .is	i~rred, regardless of the timing of related cash		
flows.	Assessments~re'r:ecoQrpzed-as-UtY!~gues in	the year for which they are levied.  Grants		
and simi_lar items are re<3Q9rii~ed as revenues as soon as all eligibility requirements imposed by		
the prov1detnave ~n	met,								
Govefnpiental		fund	~ancial Slliltejnents are reported using the current financial  resources		
m~tJr~ment		focus	am1 the modified accrual basis of accounting.	Revenues are recognized		
as SOO(l as they are both measurable and available.  Revenues are considered to be available		
when	tf1'8¥ar~,	~llectibl	o/ithin the current _pe~iod or s_oon enough thereafter to_ pay li~bilities of		
the current-penod.  F.0t	this purpose, the D1stnct considers revenues to be available 1f they are		
collected witf'ltQ60,.days	of the end of the current fiscal period, except for Developer receivables		
for retainage, whiflyare collected from the Developer when the amount is due to the contractor.		
Expenditures are recorded when a liability is incurred, as under accrual accounting.  However,		
debt service expenditures are recorded only when payment is due.						
Assessments,  including  debt  service  assessments  and  operation  and  maintenance		
assessments, are non-ad valorem assessments imposed on all lands located within the District		
and benefited	by	the										
						District'sactivities.  Operation and maintenance special assessments are		
levied by the District prior to the start of the fiscal year which begins October 1		and ends on		
												st			
September 30	th	•	These assessments are imposed upon all benefited lands located in the		
					
District.   Debt service special  assessments  are  imposed upon  certain  lots and lands as		
described in each resolution imposing the special assessment for each series of bonds issued		
by the District.  Certain debt service assessments are collected upon the closing of those lots		
subject to short term debt and are used to prepay a portion of the bonds outstanding.		

14

REUNION  EAST COMMUNITY DEVELOPMENT DISTRICT

NOTES

TO

FINANCIAL  STATEMENTS  (CONTINUED )

Year Ended

September

30,

2018

Note 1 - Summary of Significant Accounting Policies (Continued):

Measurement Focus, Basis (Continued):

of

Accounting

and

Financial	Statement  Presentation

Assessments and interest associated with the current fiscal period /aj;8'all considered to be	
susceptible to accrual and so have been recognized as revenue.s 'of1he current fiscal period.	
Only the portion of assessments receivable due within the curretlt}i~fp~riod is considered to	
be susceptible to accrual as revenue of the current perio4.,	All  o~r" revenue  items are	
considered to be measurable and available only when casJ,(~ received by-ttJe"District.	
The District reports the following major govemmental-fupds:		

General	Fund  - is the	
resources of the general	
fund.		

District's primary o~rating f~ y government, except thos,_e re(:f(,Jiped

to

It accounts for all be accounted for in

financial another

Debt Service Fund - principal and interest

accounts for on long-term

'"e\acc_umulation	
d	~	

of

r~ur~es •

for the annual payment of

Capital Projects

or construction of

Fund - accounts for tt,e majofig_f~tfucture w

,firi~ntial reso□ in;-the District.

rces

to be used for the acquisition

As a general rule, the'effect of interf\jnd activity h'asbeen eliminated from the government-wide	
financial statemen~.  When botfl restrieted and~uhrestricted resources are available for use, it	
is the District'spolicy40 ·u?e-re~mcted~Gces first, then unrestricted resources as they are	
needed.	·	
Assets,  il;tbilities, .P'eferred Outflows/Inflows  of  Resources  and  Net  Position/Fund	
Balamte		

Rest~~

covena~.

Assets

-

These assets represent cash and

investments set aside

pursuant

to

bond

Deposits an

cash on hand

lr1v.estments - The an demand deposits

Dist .

ri

ct'scash

an

d

cash

eq

ui

va

lents

are

considered

to

be

Investments of the District are reported at fair value and are categorized within the fair value	
hierarchy established	in accordance with GASB Statement No. 72, Fair Value Measurement	
and Application.  The	District'sinvestments consist of investments authorized in accordance	
with Section 218.415, Florida Statutes .	

Prepaid Items -	
periods  and	are	
statements.		

Certain payments to vendors reflect	costs applicable to future accounting	
recorded  as  prepaid  items  in  both	government-wide  and  fund  financial	

15

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT

NOTES

TO

FINANCIAL  STATEMENTS  (CONTINUED)

Year Ended September

30,	2018	

Note 1 - Summary of Significant Accounting Policies (Continued):

Assets,	Liabilities,  Deferred  Outflows/Inflows

Balance (Continued):

of

Resources  and  Net  Position/Fund

Capital Assets - Capital assets, which include property, plant, egiipi;nent and infrastructure	
assets (e.g., roads, sidewalks and similar items), are reported in-ttie applicable governmental	
activities column in the government-wide financial statements. /ya~l'assets are defined by	
the government as assets with an initial, individual cost of m~~Ahan ~O'oq and an estimated	
useful life in excess of two years.  Such assets are recerq,ea at histori~	oost or estimated	
historical cost if purchased or constructed.  Donated catti\af assets are rec	eel.at acquisition	
value at the date of donation.		

The costs of normal maintenance and repairs materially extend assets lives are not capitalized.

i~t

do

not

-ecfd'to

the value

of

the asset or

Major outlays for capital assets and i~Il!ents are c~ta1~ed	as projects are constructed.	
Property, plant and equipment of the 1plsmq	are-<;lepreciab¥1	'usingthe straight-line method	
over the following estimated useful lives:			·	

Asset~ Stormwat6r ~nagement,,Ropdways Electoc~~ 'Com~ur'Jicationsan.(:! Lighting Lan&~ping anti !i'rigation ~creational Faciiitles-and Aft\ehities

Years 30 20 15 20

Long Tennpblig~tions - In the government-wide financial statements, long-term debt and	
other lorift~-.Q!>figations'{lre,_reportedas liabilities in the statement of net position.  Bond	
premi~, ·and disco_urits are '-deferred and amortized over the life of the bonds using the	
str~igh;t-line method.  '3ohdspay~ble are reported net of premiums or discounts.  Issuance	
cosl, wJ:,ether or not	'th.heldfrom the actual debt proceeds received, are reported as an	
expen~.		

In the fund·Jiri'~cial ~atements,  governmental fund types	
discounts, as w~ll"as)iond issuance costs, during the current	
issued is	reported,'as other financing sources.  Premiums	
reported	as other financing sources while discounts on debt	
financing  uses.   Issuance costs,  whether or  not withheld	
received, are reported as expenditures.	

recognize  bond premiums	and	
period.  The face amount of	debt	
received on debt issuances are	
issuances are reported as other	
from  the actual  debt proceeds	

Deferred Outflows/Inflows of Resources - In addition to assets, the statement of financial	
position will sometimes report a separate section for deferred outflows of resources.  This	
separate  financial  statement  element,	deferred  outflows	of  resources,	represents	a	
consumption of net position that applies to	a future period(s) and so will not be recognized	as	
an outflow of resources (expense/expenditure) until then. The District does not have any item	
that qualifies for reporting in this category for the year ended September 30, 2018.		

16

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS (CONTINUED)

Year Ended  September

30,

2018

Note 1 - Summary of Significant Accounting Policies {Continued):				
Assets,  Liabilities,  Deferred  Outflows/Inflows  of  Resources  and  Net  Position/Fund	
Balance (Continued):											
Deferred  Outflows/Inflows  of  Resources  (Continued)  -  In  ad'djtibn to  liabilities,  the	
statement of financial position will sometimes report a separate-section for deferred inflows	
of resources.	This separate	financial	statement element, fie(ff~d' }nflows	of resources,	
represents an acquisition of net position that applies to a f.~l!re peri'O(j(~,and	so will not be	
recognized as an inflow of resources (revenue) until thaf'~me. The D~trict does not have	
any item that qualifies for reporting	in this category for,th~/year ended Sep~m'b_er30, 2018.	
Net Position Flow Assumption	-	Sometimes	e~District wN(f,und outlays for a particular	
purpose from both restricted and unrestricted res~mes	.  ln-619er to calculate the amounts to	
report as  restricted  - net position  and	unrestrict~ -	r:te1 Jlosition	in	the  government-wide	
financial ~tatements, a flo~ assu~ption	m_ust_ be ma~e~ou! th~ order i~ which the res?_urces	
are considered to be applied.	It 1s	the t>1Stnct'spolicy to coo~1der restricted -	net pos1t1on to	
have been depleted before unrestricted n~t-p.QSffioll js appliecl,				
Fund Balance Flow Assumptions	- So~etimesin,e-O~frie!>Will fund outlays for a particular	
purpose from both restricted ang	unrest~ed "r~sources {total of committed, assigned, and	
unassigned fund balance} 10-orper,to calcl.)\atE!/the amounts to report as restricted, committed,	
assigned, and	unassig~~,fund brl~nce in t e 'governmental fund financial statements a flow	
assumption  must	be  rr,iade  abol!t ,the order in\ which  the  resources  are considered  to be	
applied.	It is the	~strjct'spoU	ta ooosider ~stricted fund balance to have been depleted	
before  using  any  of the,,	~tlJPonents	-l2f ytfrestricted	fund  balance.   Further,  when  the	
components of ,unrestriCl\_8d	fµnd balance can be used for the same purpose, committed fund	
balance	is iJecRtefed-Jirst, i{>llowed by assigned fund balance.   Unassigned fund balance is	
applied.fa~t													
Fuf\d  ~alance  Polici'5 -  Fund  balance  of  governmental  funds	is	reported  in  various	
categQfies, based on the nature of any limitations requiring the use	of	resources for specific	
purpose	.  'tileDistrict ~If can establish limitations on the use of resources through either	
commitmer,t,(OQ,mmitt.ed,fund balance) or an assignment (assigned fund balance).	
The committed ~Qd' balance classification includes fund balance amounts that can be used	
only for the specific purposes determined by a formal action of the government'shighest level	
of decision-making authority.  The Board of Supervisors	is the highest level of decision-making	
authority for the government that can, by adoption of an ordinance or resolution prior to the end	
of the fiscal year, commit fund balance.  Once adopted, the limitation imposed by the ordinance	
or resolution remains in place until a similar action is taken to remove or revise the limitation.	

17

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS (CONTINUED}

Year Ended September

30,

2018

Note 1 - Summary of Significant Accounting Policies (Continued):		
Assets,  Liabilities,  Deferred  Outflows/Inflows  of  Resources  and  Net  Position/Fund	
Balance (Continued):								
Fund Balance Policies (Continued) - Amounts in the assigned fund"bs1lance classification are	
intended to be	used	by the government for specific purposes but .fib	not meet the criteria to be	
classified as committed.	The Board	of Supervisors has autb6rjzeq the District Manager to	
assign amounts for specific purposes.  The Board of Supervis(>r;,s'may~o'assignfund balance	
as it does when appropriating fund balance to cover a _QB'~ oetween estq,,at~d revenue and	
appropriations	in	the  subsequent	year's appropriafep,  budget.	Un~  cpmmitments,	
assignments generally only exist temporarily.	In 9ttterwords, an additional ~n does not	
normally have to be	taken for the removal of an assignment.  ~versely, as discussed above	
and additional action	is	essential to either remove 'Q(	revise a,6opr1mitment.	
Other Disclosures										
Use  of  Estimates		-	The	preparation o1	-fiQanoial	statem8(lts'.in	conformity with  generally	
accepted accounting principles requires v,anagemenho-make estimates and assumptions that	
. affect the reported amounts of assets a~	'Uabilitie~rclllQ dis9losure	of contingent assets and	
liabilities at the date of the financial state	ents, .and the reported amounts of revenues and	
expenditures during the rep1b9U1Q period.  A	u~,,results could differ from those estimates.	

Note 2 - Stewardship,

Oo91pliance an~

Accoun'tabi_lity:

Budgetary Information

The Distriat1s reqlilreo to ~tablish a budgetary system and an approved annual budget for the General ,..F.urid.- Anq_uaJ.-,budg~ts'are adopted on a basis consistent with accounting principles generally accepted in the UniteQ $tates of America. All annual appropriations lapse at the fisdql year end. The Jegal levei of budgetary control is at the fund level. Any budget ame~ents that increaseJthe aggregate budgeted appropriations, at the fund level, must be approve~_b~,the Board ~ ~upervisors.

The District 1~11dw.s financial stateme.Q~:

~ese

procedures

in

establishing  the budgetary data  reflected

in

the

1.

2. 3. 4. 5.

Each year the District Manager submits to the District Board a proposed budget for the fiscal year commencing the following October 1.

Public hearings are conducted to obtain taxpayer 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 accounting principles accepted in the United States of America.

operating

generally

18

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS (CONTINUED)

Year Ended September

30,

2018

Note 2 - Stewardship, Compliance and Accountability (Continued):				
Deficit Fund Balance												
At September 30, 2018, the debt service fund had a deficit fund balance"qr,$5,989,332.	
Note 3 - Deposits and Investments:								
Deposits														
The	District'scash balances were entirely covered b_y /f¢eral depository iq_surance	or by a	
collateral pool pledged to the State Treasurer.	Floriaa .Statutes Chapter 280, ~lorjda	Security	
for Public Deposits Act", requires all		qualified	def:>QSitories	to~posit with the-'ireasureror	
another banking institution eligible collateral equ~f-t:o ·variousi,~centages of the average daily	
balance for each month	of	all public deposits	in e~ss.-<ff	,ahy applicable deposit insurance	
held.		The  percentage	of	eligible	collateral	(gene~y.	U.S.  Governmental	and	agency	
securities, state or local government de6t, -ar corporate boqdij. to public deposits	is dependent	
upon the	depository'sfinancial history	~m:f ~t.li oorr.ipliance w'itllChapter 280.  In	the event of a	
failure of a qualified public depository,	t~e·(emaiRiQg ·public	de-ppsitories would	be responsible	
										1						
for covering any resulting losses.								
Investments													
The		District	categdr:izes		its	f~ir  value  m~a~urements  within  the  fair  value  hierarchy	
established by ge.per-ally	accet,tee:I	aeGOulJ~ll{J, 'principles.  The fair value is the price that	
would be received 'tQ seJI	ai ;,asset,	--Gr ~~<}fo transfer a liability, in an orderly transaction	
between	market partl~ants	at the measurement date. The hierarchy is based on the	
valuation1ffR!!!5 use.d to			asure the fair value of the asset.				
Und~r ;(SASB	72, as~et~ or liaQil)ties are classified into one of three levels. Level	1 is the	
m~st	r-~liable and is ~s'edon quoted price for identical assets, or liabilities,	in an active	
marK	t. ·Level 2 uses significant other observable inputs when obtaining quoted prices for	
identical	or-~imilar asJe~, or liabilities, in markets that are not active. Level 3 is the least	
reliable,	aq_d ·u15es sit)qificant	unobservable inputs that uses the best information available	
under the ci	msfapces, which includes the District'sown data in measuring unobservable	
inputs.														

The

•

District has the following Money market mutual

recurring fair value funds of $2,745,693

measurements as of September 30, 2018: are valued using Level 2 inputs.

19

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT

NOTES

TO

FINANCIAL  STATEMENTS  (CONTINUED)

Year

Ended

September

30,

2018

Note 3 - Deposits and Investments (Continued):		
Investments (Continued):		
The	District'sinvestment policy is governed by State Statutes and Di~tFict Trust Indenture.	
The District investment policy allows investments in any financial i~itution that	is a qualified	
public depository	of the State of Florida as identified by the State Tteasurer, in	accordance	
with Chapter 280	of the Florida Statutes.  Authorized Distriat 'i!)~tinentsinclude, but are	
not limited to:			

1.

The Local

Government Surplus

Funds Trust

F.dn,d/(SBA);

2.

Securities and Exchange Commission • .Registered M89ey Market Funds with the highest credit quality rating from a natio~lly·recogmz~ rating agency;

3.

Interest-bearing time

deposits

or

savings

acc~nts

in

qualified public depositories;

4.

Direct obligations

of

the

U.S.

11

~;

Investments made by accordance with GASB

the	District at	
31,	inv:e~tments	

e'ptembe~-30., a e '!:e(>grfedat

201;8 are summarized below. falr'value.

In

lnvestme{'!t'T,.ri>,	
First AmeriGan Prime Obliqafion Fund Y	
Local Gov~rnmeAt._ Soi:plus ~rus( Fund	
Fid~lity,.,Government-Portfolio lSVJ~ Ill	
US.Bank Money Mark	kcount	

	Fair Value	
$	2,405,992	
	2,585,759	
	339,701	
	461,546	
$	5,792,998	

Credit

Rating

AAAm

AAAm

AAAm

NA

Weighted	
Average	
Maturity	
26	days	
33	days	
31	days	
NA	

20

REUNION  EAST COMMUNITY DEVELOPMENT DISTRICT

NOTES

TO

FINANCIAL STATEMENTS  (CONTINUED)

Year

Ended

September

30,

2018

Note 3 - Deposits and Investments (Continued):

Investments (Continued):

Credit

Risk:

The	District'sinvestment policy limits credit risk	by	restricting ,authorized investments	to	
those described.	Investments in	U.S. Government securities~n,d·~ea~ies must be backed	
by the full faith and credit of the United States Government\  ;5tlort	t~ b~nd funds shall	be	
rated by a nationally recognized ratings agency and shaff!Jlaintain	the~hest credit quality	
rating.											
Custodial Credit Risk:									
In the case of deposits, this is	the risk that, in t	ev.enJ, 'bfa bank failure, the District's	
deposits may not be returned to it.	The District's'4(1Vestment policy requires that bank	
deposits be secured a~	provided by phapter_280_,	Fl?ri~ Statut~s.  This law re~~ires loc~I	
governments	to	deposit funds only	l'iJ f!l'laQcial instItutI0~ de~Ignated as qualified public	
depositories	by the Chief Financial Of(jce!r	of---tRe	State of ~prida, and creates the Public	
Deposits Trust Fund, a multiple financial✓n~tituti0t'l	_pool yVffh;othe ability to assess its member	
financial  institutions for	collateral shortf~lls. jf  ~-	default -or insolvency has occurred.	At	
September 30, 2018, all	of1.!)e .P.~rict'sba"Qk deposits were in qualified public depositories.	
For	an investment! .ttils- 'is the risk,lhat, in t	:event	of the failure of the counterparty, the	
government will	~t bEl	able to'reooverthe	Vl%,ltle	of its investments or collateral securities	
that	are in the	poss~s'slon'bf, an oo~	party.	At September 30,  2018,  none of the	
investments	listed  are	,e~osed	to  custodial  credit risk  because  their existence  is  not	
evidenced-oy s~curmes th~t exist	in physical or book entry form.			
	:,:.  -										

Co

nce

~tration

of

Cre®

Risk:

The

any

B~tfict'sinvestment one~s~r.

pcillicy

does

not

specify

limits

on

the

amount the

District

may

invest

in

Interest Rate'ijis1§				
The	District'sinvestment policy does not specifically address interest rate risk; however, the	
general investment policy is to apply the prudent-person rule:	Investments are made as a	
prudent person would be	expected to act, with discretion and	intelligence, to seek reasonable	
income, preserve capital,	and in general, avoid speculative investments.  The District manages	
its exposure to declines in fair values by investing primarily in	pooled investments that have a	
weighted average maturity of less than three months.			

21

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS (CONTINUED) Year Ended September 30, 2018

Note 4 - lnterfund Receivables, Payables and Transfers:

At September 30, 2018, the debt service fund owed the general fund $5,573 for costs paid their behalf.

Note 5 - Capital Assets:

on

Capital asset activity for the year ended September 30, 2018 was ?IS~n'ows:

Governmental Activities:

Capital ~sets Not Being Depreciated: Land

Total capnal assets not being depreciated

	Beginning			Ending		
	Balance						
		Additions	Reductlortfi		Balance		
				-----		
$	3,620,3	13		$	3,620,313		
	3,620,313			3,620,313		

Capital ~sets Being Depreciated: Roadways Stormwater management Recreational facility and amenities

Electrical, communications and lighting-Landscaping and irrigation

Total capMI assets being de~cialed

3 . \~ 10,048;4ZJ

11,233../
4)3ltJl47 ~.229

33,402,056 10,048,423 11,233,986 4,326,847 222,229

59,233,541

Less A.ccumulated Dep;~ti6n	,for:	
Roadways		
Stormwater management		
RecreatiaflaVacffity11~ amE!nities	
Elec	aj,communicatio~ and.lighting	
~ds.r;aping and irrigation		
Total ~urilulated Depreciation		

·8;906,914)	(1,113,402)				(10,020,316)		
(2,989,385)	(334,947)				(3,324,332)		
(4,331,095)	(561,699)				(4,892,794)		
(1,930,842)	(216,342)				(2,147,184)		
(145,926)	--- '(14_,8-_15~)	-	-	-	__(_160_,741 )		
(18,304,162)	(2,241,205)	----	(20,545,367)		

Total capnal~sets being	!?fE!ciated, net	
Governmental ac	. ·es gapMI assets, net	

$

40,929,379 44,549,692

$

(2,241,205) (2,241,205)

--- ----$

$

38,688,174 42,308,487

The estimated costs to complete the District improvements are approximately $3 million. Although the District has agreements binding the Developer to complete District improvements, it may become the District'sresponsibility to complete the District in the event the Developer defaults on its obligations and agreements with the District.

Depreciation expense for physical environment and

2018 was culture and

charged in recreation,

the amounts respectively.

of

$1,679,506 and $561,699 to

22

			REUNION  EAST COMMUNITY DEVELOPMENT DISTRICT					
			NOTES TO  FINANCIAL  STATEMENTS  (CONTINUED )					
						Year Ended September 30, 2018							
Note 6 - Long-Term Liabilities:												
Series 2002 Special Assessment Revenue Bonds:										
On August 8, 2002, the District issued	$73,620,000 of Special Assessnj:ent Revenue Bonds		
Series 2002 consisting of	$20,190,000 Term Bonds Series 2002A dde/ on May	1,	2022 with a		
fixed interest rate of 7.20%,	$33,955,000 Term Bonds Series	200?.A doe on May	1,	2033 with a		
fixed interest rate of	7.375% and $19,475,000 Term Bonds Se./2Q,02-13- due	on May 1, 2008		
a fixed interest rate of 5.9%.  These Bonds were issued to p~~ff	the 'Qen'd,Anticipation Notes		
issued	on December 28, 2001 for $10,000,000 and to	fin~e the	acqui~on, c;1nd	construction		
of certain improvements for the benefit of the District.	"'lr,tterest is due se~nnually on each		
May 1 and November 1.	Principal on	the Series ?G6?A Bonds is due annu~ commencing		
May 1,	2005 through May	1,	2033.	Principal on the ~0028 Bond§'wasdue in one·lump sum on		
November 1, 2008 and was paid in full .	During awe~k;>us fi~,year, the Series 2002A Bonds		
were												.						
Trifurcated into three (3) separate Bond Series'(~ee,~9W)							
On January	1, 2012, the Series 2002A'Bonds were	TrifufPJled into three (3) separate Bond		
Series.		As	a result	of the Trifurcatio~. ~0'00-Q.f	the bo	§> vyere called.	The remaining		
outstanding	Series	2002	Bonds	with	a ·princi~I	balance	., $49, 110,00	exchanged  for;		
$34,000,000	in principal	amount	of the ,D'i~tricf.s $~ ~2A-1, $15,070,000	in principal		
amount of the District's Series--2002A-2,	a~ $40,000	in principal amount of the District'sSeries		
2002A-3	(collectively,  the "'~es" -~002A  . onds").	The Series 2002A  Bond  maturity and		
interest rates are unchan9ed.												

The Series 2002A~onps are sdbjeet to

maturity  and  extrao~in'ary-ffi?ll'ldatery

determined by the Bona~ d'el)tl.Jre.

r:edenwtion ~~ption

at the option of the District prior to their prior to their maturity in the manner

The Borid)ridentu   reci.uires~at-Jhe District maintain	
meet11),e'debt service res~rve ~rement as defined	
not	et,at September 3 -, 2018.	

adequate funds in the Indenture.

in

a reserve account to The requirement was

The Bohq fn<;lenture	has certain restrictions and requirements relating principally to the use of		
proceeds ta pay for	tR€ infrastructure improvements and the procedures to be followed by the		
District on as~ssmeqts to property owners. The District agreed to levy special assessments in		
annual  amounts  ~clequate to  provide  payment of debt service  and  to  meet the  reserve		
requirements.  The principal and interest on the Series 2002 Special Assessment Revenue		
Bonds issued under the Indenture are secured by all	revenues received by the District from		
Series 2002A assessments levied and					
	collected on the District lands benefited by the 2002		
Project.   The  District is not in  compliance with  certain  of the  requirements of the Bond		
Indenture.						
As of September 30, 2018, total principal and interest		
				remaining on the Series 2002A Bonds		
totaled  $9,751,558,  which  includes $2,545,000 matured  principal  payable and  $2,386,164		
matured interest payable on the Series 2002A-2 Bonds.  For the year ended September 30,		
2018,  principal and interest of $903,984 was	recorded as an expenditure and  no special		
assessment revenue was pledged.				

23

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS {CONTINUED)

Year Ended September

30,

2018

Note 6 - Long-Term Liabilities {Continued):				
Series 2005 Special Assessment Revenue Bonds:				
On March 1, 2005, the District issued $18,880,000 of Special Asse~ent	Revenue Bonds		
Series 2005 due on May 1, 2036 with a fixed interest rate of 5.8%.  lnt€r,est is due semiannually		
on each May 1 and	November 1.	The Bonds were issued to :finance the acquisition and		
construction of certain		on the Series 2005		
	improvements for the benefit of the Dist_rid., P1¾16ipal			
Bonds is due annually commencing May 1, 2008 through May ~,,.,-2036.				

The Series 2005 Bonds are subject to redemption maturity and extraordinary mandatory redemptio determined by the Bond Indenture.

atrth, ~ribr

·option of to their

the Dl~trtct,_prior maturity 'f() ~he

to their manner

The Bond															
		Indenture requires that the District maintatQ	a'd~uatefunds in a reserve account to		
meet the debt service reseNe	requirement as defined	'tq_ the Indenture.  The requirement was		
not met at September	30, 2018.	-								
The Bond Indenture has certain restricU  n~	and ;>QAUitem~nts rel~ting principally to the use of		
proceeds to pay for the infrastructure								
District on								imP(oveme~/and.Jh'e'proceduresto be followed by the		
	assessments to property owners	'{ · J}istrict agreed to levy special assessments in		
annual	amounts	adequate	tel	,prO'(ide paYi	~t of	debt seNice  and  to  meet the  reseNe		
requirements.	The	prin'cjpaland interest o	the Series 2005 Special Assessment Revenue		
Bonds issued under 11'),e·lndenturi	are secur¥  by	all	revenues received by the District from		
Series	2005 asse	marts levje6	ar1d- oollecte'4-6n					
				the District lands benefited by the 2005		
Project.		The	District	is, not ilJ-	compli~ ,with  certain	of the requirements  of the  Bond		
Indenture.																
As of Stl~ember		,	2Q18,	'tq~kprincipaland interest remaining on the Series 2005 Bonds		
totaletj	$9,359,450.		This	arTIQu!)t  includes  $2,045,000	of  matured  bonds  payable  and		
$1~62~040 in	maturedV1t~rest payable that was due,	but	was not paid.	For the year ended		
Septeq,15'er30, 2018, $82~,520 was recorded as an	expenditure and no special assessment		

revenue

a's,r:,ledged.

Bond

Excha

n~

-'Series 2015 Restructured Bonds:

In June 2015, $8,795,000 of the Series 2002A-2 Bonds and $10,440,000 of the Series 2005		
Bonds were exchanged for		
			$7,245,000 Series 2015-1 Bonds, due May 1, 2033 with a fixed		
interest rate of 6.6%, $8,475,000 Series 2015-2 Bonds, due May 1, 2036 with a fixed interest		
rate	of	6.6% and $3,515,000 Series 2015-3 Bonds, due May 1, 2033 with and fixed interest		
rate	of	6.6%.	The Bond maturity and  interest rates are unchanged for the unexchanged		
2002A-2 and 2005 Bonds.  Following the exchange, $6,275,000 of the Series 2002A-2 Bonds		
and	$6,440,000	of the Series 2005 Bonds remained outstanding.		
				
The Series 2015 Restructured Bonds are subject to redemption at the option of the District prior		
to their maturity and extraordinary mandatory redemption prior to their maturity in the manner		
determined by the Bond Indenture.		

24

REUNION  EAST COMMUNITY DEVELOPMENT DISTRICT

NOTES

TO

FINANCIAL  STATEMENTS  (CONTINUED )

Year Ended September

30,

2018

Note 6 - Long-Term Liabilities (Continued):

Bond Exchange - Series 2015 Restructured Bonds (Continued ):			
The Bond Indenture requires that the District maintain adequate funds,in )i reserve account to		
meet the debt service reserve requirement as defined in the lndentufe	The requirement was		
met at September 30, 2018.				7			
							
As  of September  30,  2018,  total  principal  and  interest<re,maining	oh the  Series  2015		
Restructured	Bonds  totaled	$29,106,920.	For  the for·ended  September  30,  2018,		
$1,775,310 principal and interest was paid.  Special asse~sment revenue pl~ge_d for the year		
ended September 30, 2018 was $1,764,549.					
Series 2015A Special Assessment Refunding Bonds:				
					,;;,				
In June 2015, the District issued $30,710,000 of Special A$essment Refunding Bonds Series		
2015A consisting of $6,090,000 Term --Soods	due May·"1	2020 with a fixed interest rate of		
4.0%, $7,640,000 Term Bonds due May	t, --2.Q_25~with an inter~sh ate of	4.5% and $16,980,000		
Term Bonds due May 1, 2033 with an i	terest ra~ ol'~OJ%.1oterest is due semiannually on		
each May 1 and November 1.	The Bon s 'were,iS~ued Jo	~und the Series 2002A-1 Bonds.		
Principal on the Series 2015A..Sonds is du~ cinAti~tly commencing May 1, 2016 through May 1,		
2033.									
The Series 2015A Bol'ld,sare sul)je¢t to	red~'ptionat the option of the District prior to their		
maturity  and	ext~aordihary  ma111dptory	rede"1P!ion  prior  to  their  maturity  in  the  manner		
determined by the Bqnci, jnden.turf;1						
The Bond lnaentur~ reql:H(es<that the District maintain adequate funds in a reserve account to		
meet the1J~t--se~iCEHeserv,_e r~quirement as defined in the Indenture.  The requirement was		
met atAS~ptember 30,. 20(18.							
The~ond	Indenture has certain restrictions and requirements relating principally to the use of		
proce~	to. pay for the Infrastructure improvements and the procedures to be followed by the		
District on	s'sessmentst9· property owners.  The District agreed to levy special assessments in		
annual  am°"'nts.adl q,uate to  provide  payment of debt service  and	to  meet the  reserve		
requirements.	he principal and interest on the Series 2015A Special Assessment Refunding		
Bonds issued	umier the Indenture are secured by all revenues received by the District from		
Series 2015A assessments levied and collected on the District lands benefited by the 201 SA		
Project The District is in compliance with the requirements of the Bond Indenture.		
As of September 30, 2018, total principal and interest remaining on the Series 2015A Special		
Assessment Refunding Bonds totaled $39,249 ,700.  For the year ended September 30, 2018,		
principal and interest of $2 ,612,000 was paid and special assessment revenue pledged for the		
year ended September 30 , 2018 was $2,637,181 .				

25

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS (CONTINUED) Year Ended September 30, 2018

Note 6 - Long-Term Liabilities (Continued):

Long-term debt activity for the year ended September 30, 2018 was as follows:		
		Beginning						Ending		
		Balance		Additions	Reductions		Ba1ar;,~		
									
Governmental activities:											
Bonds Payable:											
Series 2002	$	4,175,000	$	-	$	(445,000},	$	"3,73(),000		
										
Series 2005		4,850,000				(455;-QOO)		4,	5;000		
											
Series 2015		18,035,000				1$,000)		17,45~"		

Series 2015A		28,400,000				f~~230,000)		27,170,00U		
										
Bond premium		139,136				{8,834)			130,302		
											
Governmental Activity Long-											
term Liabilities	$	55,599,136	$	"	-, .	(2, 723,Q,3-4)	$	52,875,302		

Due Within	
	One Year	
$	475,000	
	480,000	
	625,000	
	1,265,000	
$	2,845,000	

The Series 2002 and 2005 Bonds payats1e-beginning balar.i~,excludes $3,690,000 which was due in prior years, but was not paid. ~is~cfunt.was recla~ified into matured bonds payable in prior years. Of the total current yearreh1uctitm~ $900,000 w.gis due in the current year, but also was not paid and was reclassified ~ il:)atured peQ(!s ~yable. The total matured bonds payable at September 30, 2018 is $4,590,~0,

At

as

September 30, follows:

2018-,

it,e

sch	uled debt  e'n,ice requirements on the bonds payable were

Y~r'e,nciing , Sept8J!1b!r 30, 201~ 2020 ·io21 io22 ·2023 2024 - 2028 2029 - 2033 2034- 2036

	Governmental Activities	
	Principal		Interest	
$	2,845,000	$	3,015,098	
	3,005,000		2,860,376	
	3,175,000		2,696,494	
	3,370,000		2,509,002	
	3,575,000		2,309,808	
	16,480,000		8,461,796	
	18,270,000		3,858,590	
	2,025,000		273,240	
$	52,745,000	$	25,984,404	

26

			REUNION  EAST COMMUNITY  DEVELOPMENT DISTRICT			
			NOTES  TO  FINANCIAL  STATEMENTS  {CONTINUED}			
					Year Ended September 30, 2018					
Note 7 - Related Party Transactions and Litigation:							
Developer:												
The Prior Developer has  not	paid	the special assessments owed loo) District,  on certain		
properties, in	the current and prior year. As a result, the District was1.il)8ble to make all of the		
debt service payments due on	the Series 2005 and Series 2002A Bonds in the current and		
prior years.	In prior years, the District initiated foreclosure	1)r~iogs	against the Prior		
Developer.  These proceedings were filed in an effort to colle<i:	Y:,e den~u'entdebt service and		
operations and maintenance assessments owed by the 'PriorDevelop&{.	The Trustee, on		
behalf of the bondholders, funded the costs associated .wfttt,the foreclosure fftiQation.		
In	a prior fiscal year, the District filed foreclosure aeJpns	againiftt,e prior Developer, because		
of	the  Prior	Developer's failure  to  pay  debl ,se"'vice af'ld/	operating  and  maintenance		
assessments	owed.		A judgement was issued to ,th~,	~$"id	for past due operation and		
maintenance	assessments.  Reunion East SPE, LLC,	5P.ecial	Purpose Entity ("SPE"), was		
awarded a parcel of land within the District-owned by the_Jj1'veloperthrough a tax deed sale.		
The SPE was formed by the Trustee, OJ"I ~half .of the B&pdholders, to own, manage and		
dispose of the property and is responsibl~ for fundiQg'oorre.r:it o~ting and maintenance costs.		
Land was received in	the tax deed sale, tt;iat,was J(alyied pt ~~064,500.  Due to the Settlement		
Agreement with the SPE, the outstanding O&M ,and debt -assessments	on	this property that		
was owed by the Prior	De~~r wc;1s eliminpted:							
During a previous fi~kyear, the S,PE acquit: ct two additional parcels	of land through a tax		
deed sale from th~ prior Develdpe.F-:	Tt.ie !?ni{ received	in the tax deed sale was valued at		
$13,440,300.	In May~0ts,,,.tWe,.SPE	-solcl_eH\he land that was acquired through foreclosure or		
purchase tax certificat	to l;HOF Acquisitions 11, LLC.  As a result of the land sale, the SPE		
was able	w pay fhe, Oistri~ from the proceeds of the sale, delinquent O & M assessments of		
$609,24,g	,arid ·det,t seryice ~sse,5sments of $8,167,994,  in a prior fiscal year.   During the		
previdu~,fiscal year,  he SPE w~ vpluntarily dissolved.							
The Distr	has an	iAte,rlocal	agreement with Reunion West to share certain maintenance		
costs.  These share6 posts are allocated based on the number of currently platted units, with		
60% of the cos't~											
			cun'entlyallocated to Reunion East and 40% to Reunion West Most of these		
			/				reimbursed by Reunion West.  At year end, $136,330 is		
costs are paid by -Reunion East and			
due from Reunion West for reimbursement of these expenses.						

27

REUNION  EAST COMMUNITY DEVELOPMENT DISTRICT		
NOTES TO  FINANCIAL  STATEMENTS  (CONTINUED}		
Year Ended September 30, 2018		
Note 7 - Related Party Transactions and Litigation (Continued):		
Potential Claim				
During the prior fiscal year, the District received correspondence dated.M y 4, 2016 regarding	
		9		
potential litigation involving the U.S. Bank Bond Trustee and one s[3ni~cant landowner within	
the District regarding potential debt assessments	on certain unassessed parcels within the	
boundary of the District.  The District has been informed that-tfi~. :frusJee'scounsel and the	
landowner are currently negotiating a resolution, which woulp ~Hminat~ the District as a party.	
However, until a resolution is agreed to by the Trustee and 'tandowne, the, District could be	
involved in potential legal or equitable actions with the ¼~ee  and significa	iar:idowner.	
Assessments from Developer				
The Current Developer owns a portion of land ~lthin	tl(e _District; therefore,  assessment	
revenue in the general and debt service funds incl	e l	e/ assessments levied on those lots	
owned by the Developer.  The Developer'sportion of SMCial,,assessment revenue for the year	
ended September 30, 2018 totaled ~pq,Ximately	$2,626,POO., which is 40% of total special	
assessment revenue.				
Note 8 - Risk Management:				

The District is exposed to vad_ous, risks	l~ss related to torts; theft	
destruction of assets; ~rtqrs and wnissions;	nd, natural disasters.  These	
commercial insurance {rom indepe~ent third ~arties.  Settled claims from	
exceeded comme~aHosurancetoverage..sinc~)riception of the District.	
	T	

of, damage to, and risks are covered by these risks have not

Note 9 • Deficit Net Positi&{I:'		
The Distr.id !;las.-@ govern~nta.wide net deficit of $(13,333,422) at September 30,	2018.  This	
deficitptil,l'larilyresbl~ from 1)~pital assets which were financed by District long-term debt but	
w~r,e conveyed to other gb,vernmey;rfal entities and 2) uncollected revenues.		

Note 10 -

u~equent

Event~:

Prior Deve~e'r,:			
The Prior Devel~~r'has failed to remit special assessments owed for the Series 2002A-2	
2005 Bonds.			
Bond Payments:			
The District was unable to make its November 1,	2018 required debt service payments	on	
Series 2002A-2 Bonds and the Series 2005 Bonds.		

and

the

28

lVlCDIRMIT

Ill

DAVIS

CERTIFIED PUBLIC ACCOUNTANTS AND ADVISORS

. INDEPENDENT AUDITOR'SREPORT ON INTERNAL CONTROL OVER FINANCIAL

REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCO~DANCE WITH GOVERNMENT AUDITING STANDARDS

To the Board of Supervisors								
Reunion East Community Development District					
We have audited, in accordance with auditing stanqatd~:rgeneralw~cepted in the tinited States	
of America and the standards applicable to financial audits cdn¥3ined  in Government Auditing	
Standards issued by the Comptroller General	of the t,qit~ ~ates,	the financial statements of	
the governmental activities and each major fund of the ~mon East Community Development	
District (the "District") as	of and for the yeaf'ei;idedSeptem~r'@,O, 2018, and the related notes	
to the financial statements, which collecl\;vely-9)n'lpt:isethe ~trlcfs financial statements and	
have issued our report thereon dated		,_ 201g"			
Internal Control Over Financial Reporting						
In planning and performiag _pur aud·t qf the	fi~ncial statements, we considered the District's	
internal control over finan9tal report· g1(internal  ontrol) to determine the audit procedures that	
are appropriate in the  irct.tmstances forthe-purg~ of expressing our opinions on the financial	
statements,	but	not for	the, pwfp~e	xru:gssing  an  opinion  on  the  effectiveness of the	
District'sinternal control.	~rdlngly, we do not express an opinion	on the effectiveness of the	
	--									
District'sinterllffl	confrnkover'fLa!'lcialreporting.				
A deficidhq,y in internal CQ,_ntr.ol	exist_s)vhen the design or operation	of a control does not allow	
mana~~eot or	employe~, •.in the ·normal course	of performing their assigned functions, to	
prevent, ~ d~tect and corre~t misstatements	on	a timely basis.	A material weakness  is a	
deficiency,	a'°'.combinaticln of deficiencies,	in	internal control such that there is	a reasonable	
possibility that~ materiaV11JiSstatement of the entity'sfinancial statements will not	be prevented,	
or detected	and	rretiect on	a timely	basis.	A	significant deficiency  is a deficiency, or a	
combination of defioi@flcies, in	internal control that is less severe than a material weakness, yet	
important enough to merit attention by those charged with governance.		
Our  consideration  of  internal  control  over  financial  reporting  was  for  the  limited  purpose	
described in	the first paragraph of this section and was not designed to identify all deficiencies	
in  internal  control  over financial  reporting that might be material weaknesses or significant	
deficiencies.  Given these limitations, during our audit we did not identify any deficiencies in	
internal control over financial reporting that we consider to be material weaknesses. However,	
material weaknesses may exist that have not been identified.			

McrnRMIT

DAVIS

&

COMPANY,

LLC

934 NORTH MAGNOLIA TELEPHONE: 407-843-5406 FAX: 407

AVENUE, SUITE -649-9339 EMAJL:

l 00 ORLANDO, FLORIDA INFO@MCDIRMITDAVIS

32803 .COM

MEMBERS: PRJVATE COMPANIES PRACTICE SECTION AMERICAN

INSTITUTE

OF

CERTIFlED PUBLIC ACCOUNTANTS

FLORlDA

]N

STl1V

fE

OF

CERTIFlE:D

PUBUC

ACCOUNTANTS

29

Compliance and Other Matters						
As part of	obtaining reasonable						
				assurance about whether the District'sfinancial statements are		
free from material misstatement, we performed tests of its compliance with certain provisions of		
laws, regulations and contracts, and grant agreements, noncompliance with which could have a		
direct and	material	effect	on the	determination of financial  statement amounts.	However,		
providing an	opinion on compliance with those provisions was not an	objective of our audit and,		
accordingly,	we do not express such an opinion.  The results of our tests disclosed instances of		
noncompliance or other matters that are required to be reported under ~overnment Auditing		
Standards.  See Appendix A.						
We noted certain other matters that we reported to management Gf	the District, in	a separate		
letter dated	.	, 2019.	The	District's response to our fimUhgs	· er.itified in our audit is		
included in	this report:- we·did not audit the District's					
opinion on	it.				response;)~,r,rd acc°'ding_ly,we express no		
					·	•				

Purpose

of

this Report

The purpose of this report is solely to describe the-scope of our testing of internal control and	
compliance and the results of that testing, and not to p	vide an	opinion on the effectiveness of	
the  District'sInternal control or on compliance .	This 'T	port	is	an	integral part of	an audit	
performed  in accordance with  Govern	nt	Auditing	Sta	ards	in	considering  the	District's	
internal control and compliance.  Accord	gly,	this communication	is	not suitable for any other	
purpose.										

f)tc/li4mi,t

Dtwi4,

&

te,m,pant

LL~

_

__

,2019

Orlando, Florida

30

1\/J

CDIRMIT

Ill

DAVIS

CERTIFIED PUBLIC ACCOUNTANTS AND ADVISORS

MANAGEMENT COMMENTS

Board

of

Supervisors

Reunion East Community Development District

Report on the Financial Statements

We have audited the (the "District") as of report thereon dated

financial statements of		
and for th~_f_i§~I	year		
___	1	_?9_1_~			

the Reunion.Ea.,sf Community		
ended Sep't~ber30	1	2018,		

De~Jo'pment District,

and ha_,ve)issued our

Auditor'sResponsibility

We conducted our States of A~erica;
Standards, issued

audit in accordance w~audi_ting standards generally accepted in the United the standards applicab'tto-fiij~ncial_ ~udits oqnla!red in Government Auditing by the Comptroller Gene al\of the..Unrted-S_tates..and Chapter 10.550, Rules of

the Auditor General.						
Other Reporting Requiremen'tJ-						
We have issued our lnaependent A1:1dJtor'sRep~rt	.,on Internal Control over Financial Reporting		
and Compliance	and ~ttli~r Matters Based- o.n ~ii	Audit	of Financial Statements Performed	in		
Accordance with	GovernQlernt A11gitlng Ste~s and Independent Accountant'sReport on	an		
examination conducted in '8fCC)rxlancewith A/CPA Professional Standards,  AT-C Section 315,		
regarding	Cf~~ce~_re~uire~ehts in ac_cordance	with	Chapter	_19,§50,  Rules of th~ Audit?r		
General.	91sp!osures ,q tfiose r6Rot'ts,which are dated _	__,	1	In		
			2019, should be considered			
conjunct16Qmith this man~en,ent le~~r.						
Prior Aucllt Findings						
Section 10.554(1 ~-i.)1., Rbl~s of the Auditor General, require that we determine whether or not		
corrective action   hall€  been taken  to address findings  and  recommendations  made in the		
preceding annual fi~cial audit report.  Corrective actions have been taken to address findings		
and	recommendations made in the preceding annual audit report, except as noted below.			

Tabulation

of

Uncorrected Audit Findings

Current

Year FindinQ # 12-01 13-01 13-02

2016-17 FY FindinQ # 12-01 13-01 13-02

2015-2016 FY FindinQ # 12-01 13-01 13-02

McrnRMIT

DAv1s

&

COMPANY,

LLC

934 NORTH MAGNOLIA A VENUE, SUITE 100 ORLANDO, FLORIDA 32803

TEL

EPHONE:

407-843-5406

FAX:

407-649-9339 EMAIL: INFO@MCDIRM!TDAVIS.COM

MEMBERS: PRJVATE

COMPANJES

PRACTlCESECTION AMERICAN lNSTITIITE

OF

CERTJFIEO PUBLIC ACCOUNTANTS FLOR1DA

INSTITIITE

OF

CERTIFIED PUBLIC ACCOUNTANTS

31

Official Title and Legal Authority						
Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and		
legal authority for the primary government and each	component unit of the reporting entity be		
disclosed	in this management letter, unless disclosed in the notes to the financial statements.		
This information has been disclosed in the notes to the financial statements.		
Financial Condition and Management						
Section  10.554(1)(i)5.a.  and  10.556(7),  Rules  of the  Auditor  General,  require  us  to  apply		
appropriate	procedures and communicate the results of our determination as,to whether or not the		
District has met one or more of the conditions	described in	Section 218i30,;3('1), Florida Statutes,		
and to identify of the specific condition(s) met.				
	In	connection with our'aµdit, we determined that		
the District met one of the conditions described				
	in Section 218.503(1➔, f.lor~a Statutes, as listed in		
Appendix	B.									
Pursuant to Sections 10.554(1)(i)5.c. and 10.556(8),	Rules/o~the Auditor ~ne_ral, we applied		
financial condition assessment	procedures for the Distriot.	It is managemenf"s responsibility to		
monitor the District financial condition, and our					
					financial'Cf)ndition a.ssessment was b)sed in part		
on representations made by management and th~ rteview	of fi~n)ial information· provided by		
same.	Deteriorating  financial	conditions  were	nQ_tect as 1n~tcated  above  under  Section		
10.554(1 )(i)5.a.					

Section 10.554(1 )(i)2., Rules of the recommendations to improve financial have any such recommendations.

Auditer..  General,

m nE!~llL   In

requlr~~ that we communicate any con~io!1 with our audit, we did not

Additional Matters				
Section 10.554(1 )(i)3., Rul~ ,ofthe	ud,itor Ge	ral, requires us to communicate noncompliance		
with provisions of contra~, or grant a~reement5.i or abuse, that have occurred, or are likely to		
have occurred, that h~e an effect .efn the			
	fmancial~atements that is less than material but which		
warrants the attention of'¢tlosec~~ged-witb			
note any such findings.	.Qf>V~niance. In connection with our audit, we did not		
		·		

Purpose

ot'i~is-

Lefter.

Our				
m~ag~ment letter is lflte,nded solely for the		
Committ~,	members of	information and use of the Legislative Auditing		
		the Florida Senate and the Florida House of Representatives, the		
Florida Au~r, General,	E d,eral and other granting agencies, the Board of Supervisors, and		
applicable				
ma~ger:nent,4m,cf is not intended to be and should not be used by anyone other than		
these specified ~es-.			

f/t,c/lwni;t

~

&

~MAf

LLl

Orlando,	Florida		
-	-		2019'		
	- ~.			

32

REUNION  EAST COMMUNITY DEVELOPMENT DISTRICT	
APPENDIX  A  -	COMPLIANCE  VIOLATIONS  OF  LAWS,	
REGULATIONS  AND  CONTRACTUAL  PROVISIONS	
Year Ended  September 30,  2018	

13-01 - Failure to Make Bond Debt Service Payments When Due

Criteria The Special Assessment Revenue Bonds Series 2005 and semiannual interest payments and annual principal payments.

Seryes

2002A  require

Condition							
All of the debt service						
		payments due on the Series 2005 ai(a/S'eries~002A Bonds		
been made as of	2018.		·	y		
		September 30,						
Cause							
The Prior	Developer failed to pay debt service special'assessm'ef,lts to the Distrlct.		
				
Effect							
At	September 30, 2018, the District is	not in	complia · e With the requirements of		
Indenture.							

have not

the Bond

Recommendation		
We  recommend  the  District  utilize	a	
assessments and bring debt.service pay	

l~gal f~~f nts/g.irrent.

~vailable  to  collect  delinquent

Criteria			
The  Special	AsseS$fT18Qt	·e,>1em:ie	
adequate funds in a ~ervi:r account	
Indenture,			

~ Series 2005 requires the District maintain to meet the reserve requirement as defined in the

Conartion	
At  ·ept~mber 30,	
2005	Or'IQS.	

201

. , the District did not meet the reserve

requirement

on

the Series

Cause		
The District ~d'.ta \;JSe amounts in reserve account to pay debt service since the Prior	
Developer has ~Jpaid their special assessments to the District.	
Effect		
The District is not in compliance with the requirements	of the Bond Indenture.	
Recommendation		
We	recommend  the  District  utilize  all  legal  remedies  available  to  collect  delinquent	
assessments and replenish the Reserve account.		

33

REUNION  EAST COMMUNITY  DEVELOPMENT DISTRICT

APPENDIX  B -  CONDITIONS

OF

FINANCIAL  EMERGENCY

Year Ended  September 30,  2018

12-01

- Failure to

Make

Debt Service

Pa

yments

When Due

In the current and prior years, the District did not pay all of the the Series 2005 and Series 2002A Bonds due to lack of funds; Section 218.503(1 )(a) as a financial emergency condition.

principal and interest due on therefore, the District meets /

34

MCDIRMIT

Ill

DA

VIS

CERTIFIED

PUBLIC

ACCOUNTANTS

AND ADVISORS

		INDEPENDENT ACCOUNTANT'SREPORT ON COMPLIANCE WITH		
		THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES		
Board of Supervisors						
Reunion East Community Development District				
We	have examined Reunion East Community Developmtfnt,AJistrict's (the "Di~iet".) compliance		
with the						
		requirements of Section 218.415, Florida Statu~~.--auring t~e year ended~eptember 30,		
2018.	Management is responsible for the Districf.s 'compliance 'With those  requirements.  Our		
							
responsibility is to express an opinion	on the District's~mpliance'b,sedon our examination.		
Our	examination was conducted  in	accordance with a~tatic;in standards  established by the		
American  Institute of Certified  Public	Ac~tants and the ~tan~ards applicable to attestation		
engagements contained in Government A¥itfr,g _§fandards iss~d by	the Comptroller General of		
the	United States and,  accordingly,		inclu~d\ exarnicing, 0n_a test	basis,  evidence about the		
District's compliance  with  those  requireme ts\ and /~rfoo;Qint•such  other procedures as  we		
considered  necessary  in  the  cir.cumstance~.	'We  -believe  that  our  examination  provides  a		
reasonable basis for our opillt69. Qµr 'examina	iowdoes not provide a legal determination on the		
District'scompliance with spepified requi(ements.			

In for

our the

opinion, the year ended

Distqct'€pmptied-, 1n att Septe~bet 30, '2,,0113.

mate!ial ~spects, with the aforementioned requirements '

Orlando,

Florida

__

_

,,2019

McmRMIT

DAVIS

&

CoMPANY,

LLC

934 NORTH MAGNOLIA A VENUE, SUlTE

I

00

ORLANDO, FLORIDA 32803

TELEPHONE: 407-843-5406 FAX:

407~9

-

9339

EMAIL: INFO@MCDIRMITDAVIS .COM

MEMBERS: PR1VATE COMPANIES PRACTICE SECTION AMERlCAN

INSTITIJTE

()F

CERT

IFIED

PUBLIC ACCOUNTANTS

FL0RJDA

INSTinJTE

OF

CERTIFIED PUBLIC ACCOUNTANTS

35

MCDIRMIT

Ill

DA

VIS

CERTIFIED PUBLIC ACCOUNTANTS

AND

ADVISORS

To the

Board

of Supervisors

Reunion East Community Development District

We have audited the financial statements of Reunion East Community Development District (the		
"District") as of and for the year ended September	30, 2018, and have 1s~ed our report thereon		
dated	___, 2019.	Professional standards	require	that we	atlvise  you of the following		
matters relating to our audit.												
Our Responsibility in Relation to the Financial Statement				
As	communicated in our engagement letter dated Swtember 22	2017, our respgnsibility,	as		
described by professional	standards, is to	form	a d express an/ o_pinion(s) about whether the		
financial statements that have been	prepared by man g	ent with your oversight are presented		
fairly, in all material respects,	in conformity with	accour,,ttn	-principles generally accepted in	the		
United	States of America.	Our	audit of the	financial 1t tements  does not relieve you	or		
management of your respective responsibiflties.							
Our responsibility, as prescribed by profes:1·onal sta dai'ds,is to	an and perform our audit to		
obtain	reasonable, rather than absolute, as	·			~er the financial statements	are		
free of material							anc0,1about				
			An audit of fin		iaf'					
		misstatement.								
control over financial reportin~ as		oasis for			statements includes consideration of internal		
the							designing audit procedures that are appropriate in		
			i r the purppse of e1<:p	essing an opinion on the effectiveness of the		
	circumstances, but n					
entity'sinternal control		financia	r porting.		coordingly, as part of our audit, we considered		
the internal control of	Oistrict solely-for the				
		~	se of determining our audit procedures and		
not to provide any assur		c	ming such	'1mernalcontrol.				

We have pr victed our findings regarding significant control		
and material	, and other matters noted during		
noncomplianc			
dated __, 2019.			

deficiencies over financial reporting our audit in a separate letter to you

Planned Scope and Timing of the Audit

We conducted our audit consistent with the planned scope and timing communicated to you.

we

previously

McmRMIT

DAv1s

&

CoMPANY,

LLC

934

NORTH

MAGNOLIA AVENUE,

SUITE

I

00

ORLANDO,

FLORIDA

32803

TELEPHONE:

407-843-5406

FAX:

407-649-9339 EMAIL:

INFO@MCDIRMITDA

VIS.COM

MEMBERS:

PRIVATE

COMPAN(ES

PRACTICE

SECTION

AMERJCAN

INSTITUTE

OF

CERTIFIED

PUBLIC

ACCOUNT

ANTS

FLORIDA

INSTITUTE

OF

CERTIFIED

PUBLJC

ACCOUNT

ANTS

1

Compliance with All Ethics Requirements Regarding Independence

The engagement team, others in our firm, as appropriate, our firm has complied with all relevant ethical requirements regarding independence.

Qualitative Aspects

of

the Entity'sSignificant Accounting Practices

Significant Accounting Policies												
Management has the  responsibility to  select and  use  appropriate  accounting  policies.	A		
summary	of	the significant accounting policies adopted by the District is included in	Note 1 to		
the financial statements.  There have been no initial	selections	of acco  nting policies and	no		
changes in		significant accounting policies or their						
			application curing 20:18.	No matters have		
							
come to our attention that would require us, under professionel standards, to inform you about		
(1) the methods used to account for	significant unusual transactions an	2)	the	effect	of		
significant	accounting policies in	controversial or emerging areas for which th	e is	a lack	of		
authoritative guidance or consensus.					·						
Significant Accounting Estimates					s15 prepared by management		
Accounting	estimates are an integ. ral part of the. financial			
and are based on management'scurrent		Those	ents are normally based	on		
					Judr>ments.					
knowledge and experience about past and  urrent'e\Lentsand as · mptions about future events.		
Certain  accounting  estimates  are  particula.rl~ se sitive	because of their significance to the		
financial statements and because	of the pos~that future events affecting them may differ		
markedly from management'sC!J'frentRJdgmen~										

The most sensitive accou

ng

estimates

affectingfe

financial

statements

are:

Management'sestimate		depreciation is baseo on the estimated useful lives of the capital		
assets.   We	evaluated the		Rey	factors and	assumptions  used to develop the depreciation		
estimate and determined tha	1s	reasonable			
			in relation to the basic financial statements taken		
as a whole a	in relation	:o	the a.able opinion units.		
Manag   ent estimated an allowance for uncollectible receivables to reserve for amounts that		
had not ~t been collected.  We evaluated this estimate and determined that it is reasonable in		
relation to the financial stat$ments taken as a whole.		
Certain  financial  statement  disclosures  involve  significant  judgment  and  are  particularly		
sensitive because of their	significance to financial statement users.		
				
The most sensitive disclosures affecting the financial statements were:		

Disclosure on

nonpayment

of

debt service

in

Note

6.

Significant Difficulties Encountered During the Audit

We	encountered	no	significant  difficulties		
					
performance of the audit.		

in

dealing  with  management  relating  to  the

2

Uncorrected and Corrected Misstatements				
For	purposes of this communication, professional standards require us to accumulate all known		
and	likely misstatements	identified during the audit, other than those that we believe are trivial,		
and  communicate  them  to  the  appropriate  level  of  management.   Further,  professional		
standards require us to also communicate the effect of	uncorrected	misstatements related to		
prior periods on the relevant classes of transactions, account balances or disclosures, and the		
financial statements as a whole and each	applicable opinion unit.  There were no identified		
misstatements.				
						
Disagreements with Management					
For	purposes of this letter, professional standards define a disag~ement with management as a		
matter, whether or not resolved to our					
		satisfaction, conc_e~~ n~a financial ace   nting, reporting,		
or auditing matter, which could be significant to the Distr~n~ncial stateme~he auditor's		
report.  No such disagreements arose during the course o	the audit.	~		
Representations Requested from Management				
We	have						
	requested certain written representations from man			
attached letter dated ___, 2019.					
Management'sConsultations with Othe					

In the normal course of o	professional association with the	District, we generally discuss a	
variety	of m tnfrs  iool4Jding	he application	of	accounting principles and auditing standards,	
operating	d regulato{y -c;;ondi~ffecting	the entity, and	operational plans and strategies	
that may ~	ct the risks of mate~i~~sstatement.  None of the matters discussed resulted in a	
conditr	tQ our retention as the District'sauditors.		

fl!,&/lunut

/)aQia

&

~CUWf

LLl

Orlando , ___

Florida ,2019

3

· SECTION

V

SECTION

A

SPECIAL

THIRD SUPPLEMENTAL ASSESSMENT ALLOCATION

REPORT

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT

UNEXCHANGED SPECIAL ASSESSMENT BONDS, SERIES 2002A-2 AND SPECIAL ASSESSMENT BONDS, SERIES 2005

Dated March 14, 2019

Prepared by:

Governmental Management Services-Central Florida, LLC

135 W. Central Boulevard, Suite 320

Orlando, Florida 32801

1.0 2.0 3.0 4.0 5.0

6.0

7.0 8.0

Table of Contents

Introduction	2

Defined Terms	..	2

Background Information	5

Summary of Proposed Restructuring	6

Pledge of Series 2002A-2 Assessments	7

Allocation of Original Series 2002A-2 Assessments	7

Pledge and Allocation of Series 2005 Assessments	7

Assessment Roll	8

Table

Table

Table

Table

1 2 3 4

- - - -

Financing	Unexchanged Series 2002A-2 Bonds		
Information -			
Assessment Allocation -	Unexchanged Series 2002A-2 Bonds		
Assessment	Past Due Unexchanged Series 2002A-2		
Allocation -			
Assessment Roll - Unexhanged Series 2002A-2 Bonds		

Bonds

1.0	Introduction

This Third Supplemental Special Assessment Allocation Report ("Report") has been prepared for	
the Reunion East Community Development District, a local unit of special purpose government	
established in accordance with Chapter 190, Florida Statutes, in anticipation of confirming and	
allocating Original Series 2002A-2 Assessments on certain properties specifically detailed in	
Table 2.	The Original Series 2002A-2 Assessments secure the Unexchanged Series 2002A-2	
Bonds.		
In May	of 2016,  the  Trustee's  Counsel  submitted a letter to the  District identifying certain	
parcels that may be subject to District debt assessments for the Series 2002A-2 and Series 2005	
Bonds.   As  a result of this  Trustee  letter,  the  District retained Governmental Management	
Services -  Central Florida, LLC to prepare this Report and apply the methodology adopted by	
the District in the Original Assessment Report and the benefit of the Master Improvements and	
Total Project enjoyed by each parcel.  Through this Report, the District seeks to confirm and	
allocate a portion of the remaining principal of the Unexchanged Series 2002A-2 Bonds and, to	
the extent the  Unexchanged Series  2002A-2  Bonds (as  secured by assessments) are entirely	
allocated, to allocate the remaining principal of the Unexchanged Series 2005 Bonds.	

2.0	Defined Terms

"Benefited Parcels" - Parcels of land within the District that receives special benefit from the	
acquisition and/or construction of the Master Improvements.	
"Board" -	Board of Supervisors for the District.	
"Bonds" -	Special assessment bonds issued during the life of the project for the construction	
and/or acquisition of			
		improvements that provide special benefit to the lands within the District.	
"Bond Anticipation Notes" - Special Assessment Bond Anticipation Notes issued in December	
of2001 in the amount of $10,000,000.			
"District" - Reunion East Community Development District.	
"Equivalent	Assessment Unit"  - (EAU)	An estimate  of the relationship between the  product	
types, based on a comparison of the land area of each product, and is used as a comparison of the	
estimated benefit received by each product type.	
"Exchanged Bonds" -  Collectively  the Exchanged Series 2002A-2 Bonds (hereinafter defined)	
and the Exchanged Series 2005 Bonds (hereinafter defined).	
'Exchanged  Series  2002A-2  Bonds'	-	Series  2002A-2  Bonds  in  the  principal  amount  of	
$8,795,000	to be presented for cancellation in exchange for $7,245 000 of Series 2015-1 Bonds	
(hereinafter defined) and $ J 550 000 of Series 2015-3 Bonds (hereinafter defined).	

2

"Exchanged Series 2005 Bonds" - Series 2005 Bonds in the principal amount of $10,440,000 to		
be presented for cancellation in exchange for	$8,475,000 of Series 2015-2 Bonds (hereinafter		
defined) and $1,965,000 of Series 2015-3 Bonds.					
"Indenture" - Collectively, the Master Trust Indenture dated March 1, 2002.		
"Master Improvements"  -  The  acquisition  and/or	construction  of certain  infrastructure  that		
provides special benefit to all parcels within the District.			
"Original Assessments" -  The Original Series 2002A-2 Assessments (hereinafter defined) and		
the Original Series 2005 Assessments (hereinafter defined).			
"Original Series 2002A-2 Assessments" - Debt assessments levied by the District pursuant to the		
Original Series 2002 Assessment Resolutions  and pledged to pay debt  service on the  Series		
2002A-2 Bonds.									
"Original Series 2005 Assessments" - Debt assessments levied by the District pursuant to the		
Original Series 2005 Assessment	Resolutions and pledged to pay debt service on the Series 2005		
Bonds.				
									
"Original Series 2002 Assessment Resolutions" -	Resolution Nos. 2002-22, 2002-23, adopted by		
the Board on March 15, 2002, and 2002-24 adopted by the Board on July 29, 2002.		
"Original Series 2005 Assessment Resolutions" -	Resolution Nos. 2002-22, 2002-23, adopted by		
the  Board  on March  15,  2002,  and  2002-24  adopted  by  the  Board  on  July  29,  2002  and		
Resolution No. 2005-04 adopted by the Board on March 10, 2005.			
"Original Series 2002 Bonds"	-	Special	Assessment Bonds issued in July of 2002 to fund the		
acquisition and/or construction	of certain Master	Improvements and retire the Bond Anticipation		
Notes. The Original Series 2002 Bonds were				
	trifurcated in January 2012, resulting in, among		
other things,  $34,000,000  Special Assessment Bonds,  Series  2002A-1	(the  "Series  2002A-1		
Bonds"),  $15,070,000  Special  Assessment  Bonds,  Series  2002A-2	(the  "Series  2002A-2		
Bonds"), and $40,000 Special Assessment Bonds, Series 2002A-3 (the "Series 2002A-3 Bonds")		
under the Original Series 2002A-2 Indenture (hereinafter defined).			

"Original Series 2002A-2 Indenture" - Collectively, the Master Trust Indenture 2002, as amended and supplemented by that certain First Supplemental Trust August 1, 2002, and amended and restated as of January 1, 2012.

dated March 1, Indenture dated

"Original Series  2005  Indenture" -	Collectively, the Master  Trust Indenture dated March  1,		
2002, as			
			
amended and supplemented by that certain Third Supplemental Trust Indenture between		
the District and the Trustee dated as	of March 1, 2005.		
"Prior Assessments" -  The  Series 2002A-2 Assessments (hereinafter defined) and the  Series		
2005 Assessments (hereinafter defined).		
"Prior Assessment Report" -  The Final Special Assessment Allocation Report Reunion East		
Community Development District Special Assessment Bonds, Series 2002A, dated July 31, 2002,		

3

as	amended and supplemented by the Final First	
			Supplemental Special Assessment Allocation	
Report Reunion East Community Development District Special Assessment Bonds, Series 2002A,	
Special	Assessment  Bonds,  Series  2005,	dated  March  10,  2005,  prepared  by  Rizzetta  &	
Company, Inc., which together,  was the allocation methodology report used as the basis for	
allocating the Original Series 2002A-2 Assessments and the Original Series 2005 Assessments.	

"Restructuring" -	The	restructuring of a portion of the Series 2002A-2 Bonds and Series	
Bonds and related special	
of that certain		assessments to reflect the current economic environment and the	
Restructuring Agreement (hereinafter defined).	

2005 terms

"Restructuring Agreement" - That certain Restructuring Agreement the District, U.S. Bank National Association (as trustee for the Series 2005 Bonds), SPE (hereinafter defined), and Citicommunities, LLC.

entered to by and between 2002A-2 Bonds and Ser-ies

"Series 2002A-2 Assessments" - Debt assessments levied by the District pursuant to the Original		
Series 2002 Assessment	Resolutions and pledged to pay debt service on the Series 2002A-2		
Bonds, less and except that portion of the  Series 2002A-2 Assessments pledged to pay debt		
service on the Series 2015-1  Bonds and Series 2015-3  Bonds after the  Restructuring (which		
assessments  are	hereinafter  defined  as  the  Series  2015-1  Assessments  and  Series  2015-3		
Assessments, respectively).					
"Series 2002A-2 Bonds"	-  Special Assessment Bonds	exchanged in 2012 for a portion of the		
then							
							
outstanding Original Series 2002 Bonds, which bonds, as of the date hereof, are outstanding		
in the principal amount of $15,070,000.				
"Series 2005 Assessments" - Debt	assessments levied	by the District pursuant to the Original		
Series 2005 Assessment					
						
	Resolutions and pledged to pay debt service on the Series 2005 Bonds,		
less and except that portion of the Series 2005	Assessments pledged to pay debt service on the		
Series 2015-2 Bonds and Series 2015-3 Bonds after the Restructuring (which assessments are		
hereinafter defined as the Series 2015-2 Assessments).			

"Series 2005 Bonds" - Special Assessment Bonds issued in 2005 to construction of certain Master Improvements, which bonds, as of the in the principal amount of$18,l 15,000.

fund the acquisition and/or date hereof, are outstanding

"Series	2015  Assessments"  -	Collectively,  the  Series  2015-1  Assessments,  Series  2015-2	
Assessments, and Series 2015-3 Assessments.	
"Series 2015 Bonds" -  Collectively, the Series 2015-1 Bonds, Series 2015-2 Bonds, and Series	
2015-3 Bonds issued pursuant to the Indenture;-	
"Series 2015-1 Bonds" -  Current interest Special Assessment Refunding Bonds in the principal	
amount	of $7,245,000 issued for an	approximately nineteen (19) year term in exchange for a	
portion	of the outstanding Series 2002A-2 Bonds.	

4

"Series 2015-2 Bonds" -  Current interest Special Assessment Refunding Bonds in the principal	
amount	of $8,475,000 issued for an	approximately twenty-two (22) year term in exchange for a	
portion	of the outstanding Series 2005 Bonds.	
"Series 2015-3 Bonds" -  Current interest Special Assessment Refunding Bonds in the principal	
amount	of $3,515,000 issued for an	approximately nineteen (19) year term in exchange for a	
portion	of the outstanding Series 2002A-2 Bonds and a portion of the outstanding Series 2005	
Bonds.				
"Total  Project"  -  Acquisition  and/or  construction  of approximately  $56,520,000  of Master	
Improvements, including onsite and offsite, that provide benefit to all Benefited Land within the	
District.				
"Unexchanged Bonds" -  The Unexchanged Series 2002A-2 Bonds (hereinafter defined) and the	
Unexchanged Series 2005 Bonds (hereinafter defined).	
"Unexchanged Series 2002A-2 Bonds" -  Series 2002A-2 Bonds not exchanged for Series 2015	
Bonds or otherwise canceled prior to or contemporaneously with issuing the Series 2015 Bonds.	
"Unexchanged Series 2005 Bonds" -		Series 2005 Bonds not exchanged for Series 2015 Bonds or	
otherwise canceled prior to or contemporaneously with issuing the Series 2015 Bonds.	

3.0	Background Information

The District was created pursuant to the Uniform	Community Development District Act of 1980,	
Chapter 190,	Florida Statutes, as amended (the "Act") and by Ordinance No. 01-31	of Osceola	
County, Florida, effective October 3, 2001, and	expanded by Ordinance No. 05-26	of Osceola	
County, Florida on July 22, 2005  (collectively, the	"Ordinance"). The District,  as	expanded,	
encompasses	approximately 1,278 acres and is located wholly within the unincorporated area of	
Osceola County, Florida.						
In July 2002, the District issued its Original Series 2002 Bonds to, among other things, pay all	
amounts due and owing on the Bond	Anticipation Notes and finance the cost of the Series 2002	
Project (as  defined in the Original Series 2002A-2 Indenture). In January 2012, the  District	
trifurcated the Original Series 2002 Bonds into three separate series of bonds, of which only the	
Series 2002A-1 Bonds and Series 2002A-2 Bonds remained outstanding.  The Series 2002A-1	
Bonds, and the assessment securing the same, remain unaffected by this Report.   The Series	
2002A-2 Bonds were payable and secured by the Original Series 2002A-2 Assessments, which	
were levied on real property within the				
			boundary of the District specially benefited by the Total	
Project in accordance with the Prior Assessment Report.		
In February 2005, the District issued its Series 2005 Bonds to, among other things, finance the	
cost of the Series 2005 Project (as defined in the Original Series 2005 Indenture).	The Series	
2005 Bonds were payable and secured by the Original Series 2005 Assessments, which were	
levied on real property within the	boundary of the District specially benefited by the Total	
Project in accordance with the Prior Assessment Report.		

5

Infrastructure improvements funded with	proceeds of the Bond Anticipation Notes,  Original	
Series 2002 Bonds and Series 2005 Bonds are described in the Prior Assessment Report.		
Due	to a failure of certain owners of certain lands	("Delinquent Lands") to pay Original Series	
2002A-2 Assessments and Original Series 2005 Assessments when due, the District was unable	
to pay debt service on the Series 2002A-2 Bonds and Series 2005 Bonds thereby resulting in	
Event(s)	of Default (as defined in the Original Series 2002A-2 Indenture and Original Series	
2005	Indenture). To cure the Events of Default as to a portion of the Series 2002A-2 Bonds and	
Series  2005  Bonds  and  resolve  any  and  all  matters  relating  thereto,  including  litigation	
commenced by the District to	foreclose the Original Series 2002A-2 Assessments and Original	
Series 2005 Assessments on the	Delinquent Lands pursuant to Chapter 170, Florida Statutes, the	
District and Trustee entered into the Restructuring Agreement which provided, among other	
things, for (i) issuance of the Series 2015 Bonds in exchange for a portion of the Series 2002A-2	
Bonds and a portion of the Series 2005 Bonds, which Exchanged Bonds were canceled;	(ii) the	
pledge of certain Original Assessments to the Series 2015-1 Bonds; (iii) the pledge of	certain	
Original	Assessments  to  the  Series  2015-2  Bonds;  and  (iv)  the  pledge  of certain  Original	
Assessments to the Series 2015-3 Bonds.				

4.0

Summary

of

Series 2015 Bond Restructuring

Pursuant to	the Restructuring Agreement, the District issued three (3) Series (as defined in the		
Indenture) of Special Assessment Refunding Bonds for the	Exchanged Bonds, which bonds have		
the following general characteristics:					
					
(i)	Series  2015-1  Bonds:  Current  interest  bonds  issued  in  the  principal  amount  of		
	$7,245,000, with a coupon interest rate of 6.6% and a final maturity of May 1, 2033.		
	The Series 2015-1	Assessments are pledged to pay debt service on the Series 2015-1		
	Bonds.			
								
(ii)	Series  2015-2  Bonds:  Current  interest  bonds  issued  in  the  principal  amount  of		
	$8,475,000, with a coupon interest rate of	6.6% and a final maturity of May 1, 2036.		
	The Series 2015-2	Assessments are pledged to pay debt service on the Series 2015-2		
	Bonds.			
								
(iii)Series  2015-3  Bonds:	Current  interest  bonds  issued  in  the  principal  amount  of		
	$3,515,000, with a coupon interest rate of	6.6% and a final maturity of May 1, 2033.		
	The Series 2015-3	Assessments are pledged to pay debt service on the Series 2015-3		
	Bonds.			
								
Additional  information  regarding  the  Series  2015  Bonds  may  be  found  in  the  Exchange		
Information Memorandum dated June 4, 2015.					
Upon the issuance of the Series 2015 Bonds for the	Exchanged Bonds, the Exchanged Bonds		
were  cancelled and the remaining  Unexchanged Bonds  remain  outstanding  in  the  principal		
amount	of	$6,275,000  Series 2002A-2 Bonds and $7,675,000 Series 2005 Bonds. The Prior		
Assessments remain the security for the Unexchanged Bonds and the District herein confirms		
that the methodology provided for  in the Prior	Assessment Report shall continue  to  be the		
method utilized for allocation the Prior Assessments to the lands securing the Unexchanged		

6

Bonds and additional allocation methods incorporated in this Report for properties developed		
that were not contemplated in the Prior Assessment Report .		
The District is allocating a portion of the remaining assessments securing the principal of the		
Unexchanged Series 2002A-2 Bonds to certain developable property, detailed in Table 3, which		
property had not previously been allocated assessments  and has benefitted from  the Master		
Improvements and Total Project	as detailed in the Prior	Assessment Report.   As a note, the		
allocation of debt service assessments to satisfy the remaining principal of the Unexchanged		
Series 2002A Bonds will be allocated first, until full			
be achieved, then to which such	satisfaction of the Series 2002A Bonds can		
	allocation is made to satisfy the remaining principal of the		
Unexchanged Series 2005 Bonds.			

5.0

Pledge

of

a Portion

of

Series 2002A-2 Assessments

The  Original  Series  2002A-2  Assessments  were	outstanding	in	the  principal  amount  of		
$15,070,000. A portion of the Original Series 2002A-2	Assessments ($8,795,000) have been		
allocated to	securing the  Series 2015-1  Bonds  and Series 2015-3	Bonds.	A portion of the		
remaining Original Series 2002A-2	Assessments pledged	to secure Unechanged Series 2002A-2		
Bonds will be	allocated to certain properties detailed in Table 2.					
f							

6.0

Allocation

of

Original Series 2002A-2 Assessments

As noted above, the Original Series 2002A-2	Assessments pledged to secure the Unexchanged		
Series 2002A-2 Bonds will be allocated to properties detailed in Table 2 for which properties		
have benefitted from  the Master Improvements.			portion  of the  Original  Series 2002A-2		
Assessments securing a portion	of the	Unexchanged Series 2002A Bonds will be assigned to the		
properties based upon the Prior	Assessment Report.   As part of the overall review, based upon		
the actual development of the golf course property, it has been determined that the golf course		
properties  receive  more  benefit  than  originally  assigned  in  the  Prior  Assessment  Report.		
Therefore, additional Original Series 2002A-2	Assessments will be  assigned the  golf course		
properties utilizing a square footage basis from the Prior Assessment Report applied in a manner		
commensurate with the benefit received by those properties, as supposed by data from similar		
Florida golf courses subject to											
a  single	assessments.  Further, while the golf course parcels formed part of		
	development  plan  at  the  time	of	the	Original  2002A-2  Assessments  and  Prior		
							
Assessment Report and thus are assessed as	a whole.	There remains one undeveloped parcel that		
is 2.21	acres and could be developed.   Due	to	lack	of	development plan for this parcel, the		
District	is	initially assigning 8.84 units based upon 4 units per acre or approximately  17,680		
commercial  square  feet.   The  District  will  assign  the  permanent  Original  Series  2002A-2		
Assessments at the time the parcel is actually developed.			

7.0

Pledge and Allocation

of

Series 2005 Assessments

The  remaining	unexchanged	
approximately	$7,675,000.	
developable parcels identified	

principal balance of As the debt service in this report is fully

the Unexchanged Series 2005 Bonds is assessments from the certain unassessed allocated to the remaining principal of the

7

Unexchanged Series 2002A Bonds, no additional pledge Assessments can be made at this time.

or

allocation

of

the  Series  2005

8.0

Assessment Roll

The assessment roll reflecting the allocation of Original Series 2002A-2 Assessments securing a portion of the Unexchanged Series 2002A-2 Bonds on Table.

8

Reunion

East

	Community Development District	
Unexchanged Special Assessment Bonds, Series 2002A-2 And Series 2005 Bonds	
Table 1:	Financing	
	Information - Unexchanged Series 2002A-2 Bonds	
and Series 2005 Bonds	
	Series 2002A-2 Bonds	

Principal Amount

Coupon Rate

Dated Date

Maturity Date

Principal Amount

Coupon Rate

Dated Date

Maturity Date

$2,170,000 7.20% 1/12/12 1-May-22

$4,105,000 7.375% 1/12/12 1-May-33

Series 2005 Bonds

Principal Amount

Coupon Rate

Dated Date

Maturity Date

$7,675,000 5.80% 3/1/05 1-May-36

					Reunion East				
				CommlB'llty Development District			
			Unexchanged Special Assessment Bonds, Series 2002A-2		
	Table 2:	Allocation of					
				Assessments - Unexchanged Series 2002A-2 Bonds		
	Building	Commercial EAU's	Rate Per	Gross Annual	Net Annual		
Parcel ID#	S~reFeet	IPer 1,000	~ Ft.}	EAU	Assessments	Assessments {11		

27-25-27-2985-PRCL-OWPO	75,498			75.50	$925	$69,836	65,646		
27-25-27-298S-PR0.-0020	5,102								
				5.10	$925	$4,719	4,436		
27-25-27-2985-PRCL-OP20	5518								
				5.52	$925	$5,104	4,798		
35-25-27-4857-0001-0016	33,074			33.07	$925	$30,593	28,758		
35-25-27-4857-0001-0017	33,074			33.07	$925	$30,593	28,758		
35-25-27-4858-TRAC-0035	1,170			1.17	$925	$1,082	1,017		
35-25-27-4882-PRCL-OGlS	5,433			5.43	$925	$5,026	4,724		
35-25-27-4859-PRCL-02A2	1,764			1.76	$925	$1,632	1,534		
34-25-27-4012-0002-0030	18,726			18.73	$925	$17,322	16,282		
Less: EAU's				(2.90)	$925				
Assigned Serles 2015A Bonds*					!$2,683}	!SVi22)		
34-25-27-4012-0002-0030				15.83	$925				
						$14,639	13,761		
35-25-27-4894-PRCL-0140	0.00			8.84	$925	$8,177	7,686		
!Total				iSS.30		17i,402	161,117		

Par Debt.lZl	Par Debt (31	
740,937	596,057	
50,071	40,280	
54,154	43,565	
324,588	261,119	
324,588	261,119	
11,482	9,237	
53,319	42,894	
17,312	13,927	
183,777	147,842	
($28,461}	!$22,896)	
155,316	124,946	
86,756	69,792	
1,818,524	1,462,936	

Principal
R~on

144,881 9,791 10,589 63,469 63,469 2,245 10,426 3,385

35,935 ($5,565i 30,370

16,964

~55,589

( 1)	Net annual assessments exclusive of 4% early payment discount and 2% collection cost.		
(2)	Represents the par debt per unit through Flsca I Year 2009 which Is the last Fiscal Year In which annual Debt Assessments		

were paid in full.				
(3)	Represents the adjusted par debt after receipt of payment for Serles 2002A-2	Assessments for Fiscal Year 2010 through Fiscal		
				
*Golf course previously				
	EAU'S vs building square feet of structures.  After further review and analysis the		
	assessed based upon 2.9			
Consultants				
	determined the amount of benefit and assignment of debt assessments was insufficient.		

Year 2016.

Assessment

ParceJ .1D#

			Reunion East					
	Community Development District				
Unexchanged Special Assessment Bonds, Series 2002A-2			
Table 3:	calculation of Past Due Assessments			
					
Gross Annual								
AssessmeMs	FY2010	FY20:U	FY201Z	FY2013	FY2014		

FY2015

FY2016

FY

.a017

PY2018

Total

27-25-27-2985-PRCL-OWPO 27-25-27-2985-PRCL-0020 27-25-27-2985-PRCL-OPZO 35-25-27-4857-0001-0016 35-25-27-4857-0001-0017 35-25-27-4858-TRAC-0035 35-25-27-4882-PRQ.-OGlS

I I I I

$69,836	
$4,71	9	
$5,104	
$30,593	
$30,593	
$1,082	
$5,02	6	

$69,836	$69,836	$69,836	$69,836	$69,836	$69,836	$69,836	$69,836	$69,836	$628,521		
											
$4,719	$4,719	$4,719	$4,719	$4,719	$4,719	$4,719	$4,719	$4,719	$42,474		
											
$5,104	$5,104	$5,104	$5,104	$5,104	$5,104	$5,104	$5,104	$5,104	$45,937		
											
$30,593	$30,593	$30,593	$30,593	$30,593	$30,593	$30,593	$30,593	$30,593	$275,341		
$30,593	$30,593	$30,593	$30,593	$30,593	$30,593	$30,593	$30,593	$30,593	$275,341		
$1,082	$1,082	$1,082	$1,082	$1,082	$1,082	$1,082	$1,082	$1,082	$9,740		
$5,026	$5,026	$5,026	$5,026	$5,026	$5,026	$5,026	$5,026	$5,026	$45,230		

35-25-27-4859-PRCL-02A2 34-25-27-4012-0002-0030 35-25-27-4894-PRCL-0140 [Total

I

$1,632 $14,639 $8,177

$171,402

$1,632	$1,632	$1,632	$1,632	$1,632	$1,632	$1,632	$1,632	$1,632	$14,685		
$14;639	$14,639	$14,639	$14,639	$14,639	$14,639	$14,639	$14,639	$14,639	$131,751		
$8,177	$8,177	$8,177	$8,177	$8,177	$8,177	$8,177	$8,177	$8,177	$73,593		
											
$171,402	$171,402	$171,402	$171,402	$171,402	$171,402	$171,402	$171,402	$171,402	$1,542,614		

Parcel

ID

.#

	Reunion East			
	Community Development District			
Unexchanged Special Assessment Bonds, Series 2002A-2		
Table 4:	Assessment Roll - Unexchanged Serles 2002A-2 Bonds		
owner	Gross Annual	Net Annual		
	Assessments {1)	Assessments (2)		

Par Debt (3)	Par Debt	(4)	

1 2 3 4 5 6 7 8 9 10 11 12 13 14

27-25-27-2985-PRCL-OWP0 27-25-27-2985-PRCL-0020 27-25-27-298S-PRCL-0P20 35-25-27-4857-0001-0016 35-25-27-4857-0001-0017 35-25-27-4858-TRAC-0035 27-25-27-2985-TRAC-OGlO 27-25-27-2985-TRAC-0G20 27-25-27-2985-PRCL-0020 35-25-27-4857-001-00GS 35-25-27-4883-PRCL-0Gl0 35-25-27-4884-PRCL-0Gl0 35-25-27-4885-PRCL-0GlO 35-25-27-4886-PRCL-0GlO

LRA Orlando, LLC	
LRA Orlando, LLC	
LRA Orlando, LLC	
LRA Orlando, LLC	
LRA Or1a ndo, LLC	
LRA Orlando,	LLC	
LRA Orlando, LLC	
LRA Or1ando,	LLC	
LRA Reunion	Golf Course, LLC	
LRA Reunion	Golf Course, LLC	
LRA Reunion	Golf Course, LLC	
LRA Reunion	Golf Course, LLC	
LRA Reunion Golf Course, LLC	
LRA Reunion	Golf Course, UC	

(5) (5) (5) (5) (5) (S) (5) (5)

$69,836 $4,719 $5,104 $30,593 $30,593 $1,082 $0 $0 $0 $0 $0 $0 $0 $0

$65,646 $4,436 $4,798 $28,758 $28,758 $1,017 $0 $0 $0 $0 $0 $0 $0 $0

740,937	596,057	
50,071	40,280	
54,154	43,565	
324,588	261,119	
324,588	261,119	
11,482	9,237	
$0	$0	
$0	$0	
$0	$0	
$0	$0	
$0	$0	
$0	$0	
$0	$0	
$0	$0	

(1)	Includes 6%	for discounts and collection cost.			
(2)	Excludes 6%	for discounts and collection cost.			
(3)	Current par debt that would be allocated to property.			
{4)				
	Remaining par debt after payment of past due assessments.			
(5)	Golf Course	fairways.  Benefit based upon square footage of	golf course buildings.		

Parcel

ID#

	Reunion East			
	Community Development District			
Unexchanged Special Assessment Bonds, Series 2002A-2		
Table 4:	Assessment Roll - Unexchanged Series 2002A-2 Bonds		
Owner	Gross Annual	Net Annual		
	Assessments (1)	Assessments (2)		

Par

Debt (3)

15	35-25-27-4882-PRO.-OGlS	
16	35-25-27-4859-PRCL-02A2	
17	35-25-27-4894-PRCL-0140	
18	34-25-27-4012-0001-0030	
19	34-25-27-4012-0001-0033	
20	34-25-27-4012-0002-0010	
21	27-25-27-2985-TRAC-FD40	
	34-25-27-4012-0002-0030	
	!rotal	

LRA Reunion Golf Course, LLC	(5)	
LRA Orlando, LLC		
LRA Orlando, LLC		
LRA Orlando, LLC	(6)	
LRA Orlando, LLC	(6)	
LRA Orlando, UC	(6)	
LRA Orlando, LLC	(6)	
LRA Orlando, LLC	(5)(7)	

$5,026 $1,632 $8,177 $0 $0 $0 $0 $14,639

171,402

$4,724 $1,534 $7,686 $0 $0 $0 $0 $13,761

161,117

53i319 17,312 86,756 $0 $0 $0 $0 155,316

1,818,524

42,894 13,927 69,792 $0 $0 $0 $0 124,946

1,462,936

(5)

35-25-27-4882-PRCL-OGlS 34-25-27-4012-0002-0030 34-25-27-4885-PRCL-0C20 Total

Golf Academy

Maintenance Building

Oubhouse

5,433 18,726 7,011 31,170

Serles 2002A-2 Unexchanged Bonds	
Series 2015A	and Series 2002A-2	Unexchanged Bonds	
Series 2015A	Bonds		

(6) (7)

Per Engineer'sDevelopment Analysis these parcels are not developable.		
The	square feet is securing the Series 2015A	Bonds.		
equivilent of 2,900				

SECTION

8

						RESOLUTION NO. 2019-02								
A  RESOLUTION  OF		THE		BOARD  OF  SUPERVISORS  OF  THE		
REUNIONEASTCOMMUNITYDEVELOPMENTDISTRICT		
DECLARING  SPECIAL  ASSESSMENTS  ON  CERTAIN  PROPERTY		
WITHIN  THE  DISTRICT;  INDICATING  THE  LOCATION,  NATURE		
AND	ESTIMATED COST	OF	THOSE	IMPROVEMENTS WHOSE COST		
							
IS TO BE DEFRAYED BY THE		SPECIAL ASSESSMENTS; PROVIDING		
THE PORTION	OF THE	ESTIMATED COST OF THE IMPROVEMENTS		
TO  BE  PARTIALLY	DEFRAYED  BY  THE  SPECIAL  ASSESSMENTS;		
PROVIDING		THE	MANNER	IN		WHICHSUCH	SPECIAL		
ASSESSMENTS	SHALL	BE			MADE;				
						PROVIDING		WHEN	SUCH		
SPECIAL  ASSESSMENTS  SHALL	BE	MADE;  DESIGNATING LANDS		
UPON  WHICH  THE  SPECIAL	ASSESSMENTS  SHALL  BE  LEVIED;		
PROVIDING	FOR	AN	ASSESSMENT    PLAT;	ADOPTING	A		
PRELIMINARY  ASSESSMENT  ROLL;  PROVIDING  FOR  A  PUBLIC		
HEARING TO CONSIDER THE ADVISABILITY AND PROPRIETY OF		
SAID   ASSESSMENTS   AND   THE   RELATED   IMPROVEMENTS;		
PROVIDING FOR NOTICE OF SAID PUBLIC HEARING; PROVIDING		
FOR PUBLICATION	OF	THIS		RESOLUTION;  PROVIDING  FOR AN		
EFFECTIVE DATE.										
																					
WHEREAS,  the  Reunion  East  Community	Development	District	(	District )     is		
																						11		11		
authorized  pursuant  to  Chapter  190,  Florida  Statutes,  to  undertake,  install,  plan,  establish,		
construct  or reconstruct,  enlarge  or  extend,  equip,  acquire,  operate,  and/or  maintain certain		
public  infrastructure		improvements	referred  to	as	the  Capital  Improvement  Plan  ("Capital		
Improvement Plan"), which includes certain master improvements which benefit each parcel in		
the District ("Master	Improvements") as	described in the	Engineer's Cost Report, dated July 31,		
2002, as							
	amended and supplemented from time to time (collectively, with all such amendments		
and supplements, the "Engineers Report"); and													
WHEREAS, the District received	correspondence dated May	4,	2016 ("Initial Request")		
from counsel for U.S. Bank National Association in its capacity as trustee (the "Trustee") under		
a certain Master Trust Indenture dated March I, 2002 (the "Master Indenture"), as amended and		
supplemented by the First Supplemental Trust	Indenture dated August 1,	2002, and the Third		
Supplemental Trust										1, 2005,	as both may have been amended and further		
		Indenture dated March				
supplemented from time to time (collectively with the "Master Indenture", the "Indentures")		
which  govern the  District's  $54,145,000  Special  Assessment  Bonds,  Series  2002A  ("Series		
2002A  Bonds")  and  $18,880,000  Special  Assessment  Bonds,  Series  2005  ("Series  2005		
Bonds"); and																									
WHEREAS, the Initial Request	identified parcels of land within the District that were		
claimed by Trustee's Counsel to have benefitted from the Capital Improvement Plan and Master		
Improvements yet were currently unassessed by the District; and								
WHEREAS,		pursuant to	Section 9.03	of	the Master Indenture,	a special assessment		
must be levied by the District against any property benefitting from the improvements funded		
from proceeds of the Series 2002A	and Series 2005 Bonds; and								

Reunion East
Resolution 2019-02 (Declaring Assessments)

1

WHEREAS,  the District engaged in an investigation of the  parcels identified in the		
Initial Request,  and through subsequent investigation,  due diligence  and discussion with the		
Trustee's and the  Landowner's  (as  defined below)	counsel,  identified  certain of the parcels		
identified  in  the  Initial  Report  as  well  as  other  parcels  which the  District  determined  are		
currently unassessed and which have benefitted from the Master Improvements (the "Unassessed		
Property"), more specifically identified in the preliminary	assessment roll of the Assessment		
Methodology  for  Reunion  East  Community  Development	District,  dated  March  14,  2019		
attached hereto as Exhibit "A" and incorporated by					
					
reference (the "Assessment Report"); and		

WHEREAS, the District and Trustee Unassessed Property (the "Landowner") and, acceptable assessment terms; and

attempted		
negotiations with the landowner of the	
to date, have been unable	to arive at a mutually	

WHEREAS,	the Board of Supervisors of the District ("Board") has determined that the		
District shall defray the cost of the Master Improvements by the levy of non-ad valorem special		
assessments pursuant on the Unassessed Property within District in pursuant to Chapter 190,		
Florida Statutes ("Assessments"); and					
WHEREAS,	the  District  is  empowered  by	Chapter  190,  the  Uniform  Community		
Development District Act, Chapter 170, Supplemental			
Municipal					Alternative Method of Making Local and		
	Improvements, and Chapter 197, Florida Statutes, to finance, fund, plan, establish,		
acquire,  construct  or  reconstruct,  enlarge  or  extend,  equip,  operate,  and  maintain  the		
Improvements and to	impose, levy and collect the Assessments; and		
WHEREAS,	the District hereby determines that	benefits have and will accrue to the		
Unassessed	Property improved, the amount of those					
		benefits, and that special assessments have		
					
and will be made in proportion to the benefits			
					
on file  at			received as set forth in the Assessment Report and		
	135  West Central Boulevard,  Suite 320,	Orlando, Florida 32801("District Records		
Office"); and				

WHEREAS, exceed the benefits to

the District hereby determines that the Assessments to the property improved.

be

levied will not

NOW,   THEREFORE,	BE   IT	RESOLVED	BY  THE	BOARD   OF	
SUPERVISORS	OF	THEREUNION	EAST	COMMUNITY	
DEVELOPMENT DISTRICT IN THE OSCEOLA COUNTY, FLORIDA:	

1.

Assessments

shall

be levied

to

defray the

cost

of

the Master Improvements.

2.	The general nature of the Master			
		Improvements is more specifically described in		
the Engineer's Report and in certain plans and specifications on file  at the District Records		
Office.					
3.	The  general  location	of the Master	Improvements is shown in the Engineer's		
					
Report and in plans and specifications on file at the District Records Office.		

4.	The	Assessments  will  defray  approximately	
Master Improvements.	

$-------

-

for  the

Reunion East

Resolution 2019-02 (Declaring Assessments)

2

5.	The  manner in	which the	Assessments  shall  be made  is  contained within the		
Assessment Report, which is attached hereto as Exhibit "A" and is also available at the District		
Records Office.							
6.	The	Assessments shall be levied on the Unassessed Property and all other lots and		
lands within the District which are specifically benefitted by the Master Improvements.		
7.	There is	on file at the District Records Office, showing the area to be assessed,		
together with plans and	specifications describing the Master Improvements, which shall be open		
to inspection by the public.				
8.	The District Manager has caused to be made a preliminary assessment roll,  in		
accordance with the method of	assessment described in Exhibit "A" hereto, which shows the lots		
and lands assessed, the amount	of benefit	to and the assessment against each lot or parcel of land		
and the  number of	annual  installments into which the assessment may  be divided, which is		
hereby adopted and approved as the District's preliminary assessment roll.		
9.	Commencing  with  the  year  in  which  the  Assessments  are  confirmed,  the		
Assessments shall be paid in accordance with the  Assessment Report, but in no event in more		
than thirty	annual	installments payable at the same time and  in the same manner as are ad-		
valorem taxes and as prescribed by Chapter 197, Florida Statutes; provided, however, that in the		
event the non ad-valorem assessment method of collecting the Assessments is not available to		
the District in any year, or the District determines not to utilize the provisions of Chapter 197,		
Florida Statutes, the	Assessments may be collected as is otherwise permitted by law.		
					
10.	The Board shall adopt a subsequent resolution to fix a time and place at which the		
owners of	property to be assessed or any other persons interested therein may appear before the		
Board and	be heard as to the propriety and advisability of the assessments or the making of the		
Master								
Improvements, the cost thereof, the manner of payment therefore, or the amount thereof		
to be assessed against each property as improved.		

11.	The District Manager is hereby	
twice (once a week for two (2) weeks) in a	
County  and to  provide  such other notice as	
interests of the District.	

directed to cause this newspaper of general may be required by

Resolution to be published circulation within Osceola law or desired in the best

12.

13. forth in the

This Resolution shall become effective upon its passage.

Any capitalized terms used herein and not defined, shall have the meanings set Assessment Report.

[SIGNATURE ON FOLLOWING PAGE]

Reunion East
Resolution 2019-02 (Declaring Assessments)

3

PASSED

AND

ADOPTED

this

14

th

day

of

March, 2019

ATTEST:

REUNION EAST DEVELOPMENT

COMMUNITY

DISTRICT, a Florida

community development district

By: ------------

Name: ---  -------  -
Secretary I Assistant Secretary

By: --		
	-------  -----  -  --		
Name:	----,------  -  ---  -----		
			
	Chairman I Vice Chairman		

Reunion East
Resolution 2019-02 (Declaring Assessments)

4

Exhibit "A"

Methodology for Reunion East Community Development District dated March 14, 2019

Reunion East

Resolution 2019-02 (Declaring Assessments)

5

SECTl"ON ·C

			RESOLUTION 2019-03						
A  RESOLUTION  OF  THE  BOARD  OF  SUPERVISORS  OF  THE			
REUNION    EAST    COMMUNITY    DEVELOPMENTDISTRICT			
SETTING	A	PUBLIC	HEARING	TO	BE	HELD	ON			
											
------ ~ 2019 AT ___	A.M./P.M. AT THE HERITAGE			
CROSSING  COMMUNITY  CENTER,  7715  HERITAGE  CROSSING			
WAY,  REUNION,  FLORIDA,  FOR  THE  PURPOSE  OF  HEARi	G			
PUBLIC  COMMENT  ON IMPOSING  SPECIAL ASSESSMENTS  ON			
CERTAIN PROPERTY WITHIN THE	DISTRICT IN ACCORDANCE			
WITH CHAPTERS 170,197,190,					
	FLORIDA STATUTES; PROVIDING			
FOR  SEVERABILITY,	CONFLICTS  AND	AN	EFFECTIVE  DA TE.			
								
WHEREAS	the Reunion East Community							
						Development District (the "District) is a		
local unit of special-purpose government duly organized and existing under the provisions of the		
Unifonn  Commwrity					of 1980  Chapter	190  Florida  Statutes,	as		
	Development District  Act					
amended (the  Act')" and												

WHEREAS,

the  District  has  previously  adopted  Resolution  2019-02,  entitled:

A							
RESOLUTION OF THE BOARD OF	SUPERVISORS OF THE REUNION		
EAST  COMMUNITY DEVELOPMENT  DISTRICT  DECLARING  SPECIAL		
ASSESSMENTS   ON  CERTAIN  PROPERTY  WITHIN  THE  DISTRICT;		
INDICATING  THE  LOCATION,	NATURE  AND  ESTIMATED  COST  OF		
THOSE IMPROVEMENTS			
						
	WHOSE COST IS TO BE DEFRAYED BY THE		
SPECIAL   ASSESSMENTS;   PROVIDING   THE   PORTION   OF   THE		
ESTIMATED  COST  OF  THE  IMPROVEMENTS  TO  BE  PARTIALLY		
DEFRAYED   BY   THE   SPECIAL   ASSESSMENTS;   PROVIDING   THE		
MANNER IN WHICH SUCH SPECIAL ASSESSMENTS SHALL BE MADE;		
PROVIDING WHEN SUCH SPECIAL	ASSESSMENTS  SHALL BE MADE;		
DESIGNATING  LANDS  UPON  WHICH  THE  SPECIAL  ASSESSMENTS		
SHALL   BE   LEVIED;   PROVIDING   FOR   AN   ASSESSMENT   PLAT;		
ADOPTING A PRELIMINARY ASSESSMENT ROLL; PROVIDING FOR A		
PUBLIC HEARING TO CONSIDER THE ADVISABILITY AND PROPRIETY		
OF   SAID   ASSESSMENTS   AND   THE	RELATED   IMPROVEMENTS;		
PROVIDING FOR NOTICE OF SAID PUBLIC HEARING; PROVIDING FOR		
PUBLICATION OF THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE		
DATE.							
WHEREAS,	in accordance with						
	Resolution No. 2019-02, a preliminary assessment roll		
has been prepared and all other conditions precedent set forth in Chapter 170, 197 and 190,		
Florida Statutes, to the holding of the						
	aforementioned public hearing have been satisfied, and		
the  roll  and related  documents  are  available  for  public  inspection  at  135  West  Central		
Boulevard, Suite 320, Orlando, Florida 32801 (the "District Records Office").		

NOW, THEREFORE, BE IT SUPERVISORS OF REUNION DISTRICT AS FOLLOWS:

RESOLVED BY THE BOARD OF EAST COMMUNITY DEVELOPMENT

Resolution 2019-03

Reunion East Community Development District

and

1.
by  this

INCORPORATION OF RECITALS.	The recitals	
reference  are  incorporated  by  reference  as  a	

stated above material part

are of

true and correct this Resolution.

	2.		DECLARATION  OF  PUBLIC  HEARING.		The	District hereby  declares  a  public		
hearing to be held at ____, 2019, at ___		A.M./P.M. at the HERITAGE CROSSING		
COMMUNITY CENTER, 7715 HERITAGE CROSSING WAY, REUNION, FLORIDA for the		
purpose  of	hearing comment and objection to  the	proposed special  assessment program for		
comm.unity improvements as identified in the Assessment Methodology dated March 14, 2019		
(the "Assessment Report") attached hereto as	Exhibit "A" and the preliminary assessment roll,		
available at the District Records Office. Affected parties may appear at the hearing or submit		
their comments in writing prior to the meeting to the	attention of the District Manager at the		
District Records Office.										
												
	3.	ADVERTISING OF PUBLIC HEARING.	Notice of said hearing shall be advertised in		
accordance with Chapter 170, 190, and 197, Florida Statutes,	and the District Manager is hereby		
authorized and directed to place said notice in a	newspaper of general circulation within Orange		
County (by two publications one week apart with the last publication at least one week prior to		
the date of the hearing established herein). The District				
with the District Secretary verifying such	publication		Manager shall file a publisher's affidavit		
		of notice. The District Manager is further		
authorized and	directed to give thirty (30) days' written notice by mail of the time and place of		
this hearing to the owners of all property to be assessed and include in such notice the amount of		
the assessment for each such property owner, a	description	of the areas to be improved and		
notice that information concerning all assessments may be ascertained at the District Records		
Office.  The	District	Manager shall  file  proof	of such mailing  by  affidavit with the  District		
Secretary.						
															
	4.	SEVERABILITY.  If any section, paragraph, clause or provision of this Resolution		
shall be held to be invalid or ineffective for any reason, the	remainder of this Resolution shall		
continue in full force and effect, it being expressly hereby found and declared that the remainder		
of this	Resolution would have been adopted despite the	invalidity or ineffectiveness of such		
				
section, paragraph, clause or provision.											

of

5.	CONFLICTS.	
such conflict, superseded	

All resolutions or parts thereof in conflict herewith are, to the extent and repealed.

6. adoption.

EFFECTIVE  DATE.

This  Resolution  shall

talce

effect  immediately  upon  its

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

Resolution 2019-03

Reunion East Community Development District

ADOPTED

SIGNATURE PAGE FOR RESOLUTION 2019-03		
this 14	th	day of March, 2019.		
				
		REUNION EAST COMMUNITY		
		DEVELOPMENT DISTRICT		

Chairperson or Vice Chairperson, Board of Supervisors Attest:

Its:  Secretary

Resolution 2019-03

Reunion East Community Development District

EXHIBIT "A" ASSESSMENT REPORT
Assessment Methodology for Reunion East Community Development District (dated March 14, 2019)

[ATTACHED

ON

FOLLOWING PAGES]

Resolution 2019-03

Reunion East Community Development District

SECTION

VI

SECTl

·ON

C

SECTION

1

	Meeting		
Item#	Assianed	Action Item	
1	3/14/11	lrriQation Turnover	

Reunion East		
Assigned To:	Date DueStatus	
Developer	On Hold	

Comments Issue on Hold Pending CUP NeQotiation

2

3

4

5

3/16/17

1/11/18

8/9/18

8/9/18

Allocation of 532 Costs

Amendment to MSA to Incorporate Heritage Crossing Community Center & Horse Stables

Evaluation of Installation of a Transponder System for Reunion Property Owners Ease of Gate Access

Implementing Policies/Guidelines

Regulating Number of Guests at

CDD Prooertv

Scheerer/d'Adeskv

Resort/Flint

Scheerer/Cruz

Flint/d'Adeskv

	Proposals from Yellowstone	
	presented at August meeting.	
	Counsel	Sent Demand Letters for	
	Costs to	Each Parcel Owner.  Publix	
On Hold	Declined Sharina Costs.	
	Negotiations with New Resort Owners	
	to Take Place Over the Course of 60-	
In Process	90 Days		

Complete

Complete

6	10/11/18  Evalulation of Speed Limit Signs	Cruz	

In Process

Recommendations to March Meeting

be

Provided

at

7	12/13/18	Installation of Signage in Advance of			
		Reunion Blvd. Intersection at 532	Bovd		
8	12/13/18	Repainting of Signs Throughout			
		Community	Scheerer		
9	2/21/19	Evaluate Traffic Lanes for Sinclair			
		Road Gate	Bovd/Scheerer		

	The County to Conduct Site Visit and		
	Provide Costs.  Chairman Delegated		
	Authority to Sign off on Sign		
Complete	VerbiaQe.		
	Proposal from Heritage Service		
In Process	Solutions Approved at January		
	Meetina		
In Process			

Item#

1

2

Meeting

Assi!:med

1/11/18 2/21/19

Action Item Installation of Neighborhood Monuments

Cost to Install Parking Spaces at Valhalla Mail Kiosk Area

Reunion West				
Assianed To:	Date DueStatus	Comments		
Scheerer		Plans Complete. Easement		
	In Process	Agreements in Process		
				
Boyd	In Process			

revised

3ll/2019

Reunion Resort & Club

Seven Eagles Cove COD Action Items Punch List

Ref

#

1

Notes & Action Items

Descrlotlon

Landscaoinc around buildina is over arowr

Target	Responsible	
Date	Partvlsl	
21-Mar	Yellowstone	

Status/Notes/Next Steps

Landscai:, inq needs to be replaced in serval

Completed	Comments

Date

areas	On Hold

SECTION

2

Fund

General Fund

Reunion East	
Community Development District	
Summary of Check Register	
February	1,	2019	to February 28, 2019	
Date			CheckNo.'s	
2/5/19			4173-4175	
2/7/19			4176	
2/12/19			4177-4183	
2/17/19			4184-4185	
2/19/19			4186-4187	
2/26/19			4188-4194	

$ $ $ $ $ $

$

Amount	I		
13,825.66			
			
7,824.98			
10,669.15			
113,343.89			
961.10			
16,510.37			
163,135.15			

Replacement &	2/14/19	66-68		
Maintenance				
	2/26/19	69		
Payroll	FebruaQ'. 2Q12			
	Donald Harding	50465		
	John Dryburgh	50466		
	Mark Greenstein	50467		
	Steven Goldstein	50468		
	Trudy Hobbs	50469		

$ $

$

$ $ $ $ $

$ $

28,230.16		
8,100.00		
36,330.16		
184.70		
184.70		
184.70		
184.70		
184.70		
923.50		
200,3ss.s1	I	

AP300R *** CHECK

DATES

02/01/2019

-

YEAR-TO-DATE
02/28/2019	***	

ACCOUNTS  PAYABLE  PREPAID/COMPUTER
REUNION  EAST-GENERAL  FUND
BANK  A REUNION  EAST  CDD

CHECK

REGISTER

RUN

3/03/19

PAGE

1

CHECK	VEND#	
DATE		
2/05/19	00074	

••... INVOICE ••...•.. EXPENSED  TO...			VENDOR  NAME			
DATE	INVOICE	YRMO	DPT	ACCT#	SUB	SUBCLASS				
										
1/31/19	175134	201901	320-53800-47000						
1/31/19	AQUATIC	PLANT	MGMT	JAN19							
	175134	201901	300-13100 -10100						
	AQUATIC	PLANT	MGMT	JAN19	APPLIED	AQUATIC	MANAGEMENT,	INC.		

STATUS					AMOUNT			•••• CHECK •••••		
									AMOUNT	#		
*						72.24						
												
*						56.76						
												
-	-	-	-	-	- -	- -	-	-	129.00	004173		
									- - - -			

2/05/19	00129	

1/28/19 1/28/19 1/28/19 1/28/19 1/28/19

4434 RMV 4434 RMV 4436 RPR 4436 RPR 4438

	201901	320-53800-53000		
ASPHALT/RPLC/FILL		
	201901	300-13100-10100		
ASPHALT/RPLC/FILL		
ROOF	201901	320-53800-47700		
	LEAK-SEVEN  EAGLE		
ROOF	201901	300-13100-10100		
	LEAK-SEVEN  EAGLE		
	201901	320-53800-53200		

*	523.60		
				
*	411.40		
				
*	352.80		
				
*	277	.20		
				
*	260.40		

2/05/19	00054	

1/28/19		RELOCATE/CHNG	SPEED  SIGN					
		4438	201901	300-13100 -10100				
- - -		RELOACTE/CHNG	SPEED	SIGN	BERRY	CONSTRUCTION	INC.		
	-	- - - -	- - -	- - -	- - -					
						- -				
2/05/19		2019FEB	201902	320-53800-34500				
2/05/19		SECURITY	SERVICES  FEB19					
		2019FEB	201902	300-13100-10100				
		SECURITY	SERVICES  FEB19					

*					204.60						
											
-	-	-	-	-	- - - -	-	-	2,030.00	004174		
								- - - -			
*					6,533.33						
*					5,133.33						

2/07/19	00049	

- - -	-	- - -	-	- - -	REUNION		
					- - - - - - - -		
2/01/19		454		201902	310-51300-34000		
2/01/19		MANAGEMENT  FEES-FEB19		
		454		201902	310-51300-35100		
2/01/19		INFORMATION  TECH-FEB19		
		454		201902	310-51300-31300		
2/01/19		DISSEMINATION-FEB19		
		454		201902	310- 51300-51000		
2/01/19		OFFICE	SUPPLIES		
		454		201902	310-51300-42000		
2/01/19		POSTAGE				
	454		201902	310-51300-42500		
2/01/19		COPIES					
	454		201902	310-51300-41000		
2/01/19		TELEPHONE			
	455		201902	320-53800-12000		
		FIELD	MANAGEMENT-FEB19		

RESORT

&

CLUB

MASTER

ASSOC.

-	-	-	-	-	-	- - -	-	11,666.66	004175		
								- - - - -			
*					3,689.58					
											
*						183.33					
											
*						416.67					
											
*						16.02					
											
*						19.42					
											
*						140.70					
											
*						38.34					
											
*					3,320.92					

2/12/19	00095	

- - -	-	- - -	-	- - -	-	- - -	-	-	GOVERNMENTAL  MANAGEMENT  SERVICES		
									- -					
1/31/19		S106679	201901		320-53800-57400					
		RPLC	INPUT  WIRES/BELT								
									REUE	REUNION	EAST	TVISCARRA		

-	-	- -	-	-	- - -	-	-	7,824.98	004176		
								- - - -			
*					107.57						

AP300R *** CHECK

DATES

02/01/2019

-

YEAR-TO-DATE 02/28/2019 ***

ACCOUNTS  PAYABLE  PREPAID/COMPUTER
REUNION  EAST-GENERAL  FUND
BANK  A REUNION  EAST  COD

CHECK

REGISTER

RUN

3/03/19

PAGE

2

CHECK	VEND#
DATE

2/12/19	00129	
2/12/19	00134	

...•• INVOICE .•••...•	EXPENSED  TO...			VENDOR	NAME		
DATE	INVOICE	YRMO	DPT  ACCT#	SUB	SUBCLASS			
								
1/31/19	S106679	201901	300-13100-10100				
	RPLC	INPUT  WIRES/BELT	ACCESS	CONTROL  TECHNOLOGIES,  INC.		
									
1/31/19	4448		201901	320-53800-47700				
1/31/19	RPLC	TOILET	SEAT/VALVE						
	4448		201901	300-13100-10100				
	RPLC	TOILET	SEAT/VALVE	BERRY	CONSTRUCTION	INC.		
- - - -	- -	- -	- -	-	- - - - - -					
						-	-				
2/08/19	2160		201901	310-51300-31100				
	REV.SFWMD  CERT/COD  MTG						

STATUS					AMOUNT			.•.• CHECK ...••		
								AMOUNT	#		
*					84.52							
												
- -	- -	-	-	- - - -	-	-	192.09	004177		
							- - -			
*					103.60							
												
*					81.40							
												
-	-	- -	-	-	- - -	- -	-	185.00	004178		
								- - -			
*					815.88							

2/12/19	00160	

- - - 2/02/19

2/02/19

-	- - - -	- -	- -	- -	- - - -	BOYD		
						-		
	11177	201902	320-53800-12200		
	FACILITIES	BLDG	RENT	FEB			
	11177	201902	300-13100 -10100		
	FACILITIES	BLDG	RENT	FEB			

CIVIL

ENGINEERING

-	- - -	-	- - - - - -	-	815.88	004179		
					- - -			
*			1,906.97					
								
*			1,498.33					

2/12/19	00060	

2/12/19	00154	
2/12/19	00030	

- - -	- - - -	- -	- -	- - -	CITICOMMUNITIES	LLC		
					- - - - -					
1/16/19	332153	201901	320-53800-46200					
1/16/19	RPLC	VALVE/BASIN  CP	POOL					
	332153	201901	300-13100 -10100					
1/17/19		RPLC	VALVE/BASIN  CP	POOL					
		332169	201901	320-53800 -46200					
1/17/19	RPLC	l.5HP  MOTOR/SEAL/PMP					
	332169	201901	300-13100-10100					
1/22/19	RPLC	1.5HP  MOTOR/SEAL/PMP					
	332220	201901	320-53800-46200					
1/22/19		RPR  FOUNTAIN  JET-TERRACE					
		332220	201901	300-13100 -10100					
1/22/19		RPR  FOUNTAIN  JET-TERRACE					
		332221	201901	320-53800 -46200					
1/22/19		RPLC	20-19"GRIDS/MANIFOLD					
		332221	201901	300-13100-10100					
		RPLC	20-19"GRIDS/MANIFOLD	POOL				
- - -	-	- - -	- -	- -	- - -	SPIES		LLC			
						- - - - -					
2/05/19		7503	201902	320-53800-48000					
2/05/19		LANDSCAPE	CONSULTING	FEB					
		7503	201902	300-13100 -10100					
		LANDSCAPE	CONSULTING	FEB					
- - -	-	- - -	- -	- -	- - -	SUNSCAPE  CONSULTING		
						- - - - -					
1/31/19		248136	201901	320-53800-46500					
		IRRIGATION  REPAIRS  JAN19					
						REUE  REUNION	EAST	TVISCARRA		

-	- -	-	-	-	- - -	-	-	3,405.30	004180		
								- - - -			
*						274.85						
												
*						215.95						
												
*						318.05						
												
*						249.90						
												
*						126.53						
												
*						99.42						
												
*						350.56						
												
*						275.44						
												
-	-	-	-	-	-	- - -	-	1,910.70	004181		
								-	- - - -			
*					1,820.00						
												
*					1,430.00						
												
-	-	-	-	-	-	- - - -	3,250.00	004182		
							-	- - - -			
*						509.70						

AP300R *** CHECK

DATES

02/01/2019

-

YEAR-TO-DATE 02/28/2019 ***

ACCOUNTS  PAYABLE  PREPAID/COMPUTER
REUNION  EAST-GENERAL  FUND
BANK  A REUNION  EAST  CDD

CHECK

REGISTER

RUN

3/03/19

PAGE

3

CHECK	VEND#
DATE

••••• INVOICE, •••••.• EXPENSED	TO...			VENDOR  NAME		
DATE	INVOICE	YRMO	DPT	ACCT#	SUB	SUBCLASS			
									
1/31/19	248136	201901	300-13100-10100				
	IRRIGATION  REPAIRS	JAN19	YELLOWSTONE	LANDSCAPE		

STATUS *

AMOUNT

400.48

•••. CHECK •••••	
AMOUNT	#	
910.18	004183	

2/17/19	00103	
2/17/19	00103	

2/17/19	02172019  201902	300-20700-10000					
	FY19  DEBT  SERV	SER2015A					
		REUNION	EAST	CDD	C/0	USBANK	
2/17/19	02172019  201902	300-20700-10500					
	FY19  DEBT  SERV	SER2015-l					
		REUNION	EAST	CDD	C/0	USBANK	

*	112,184.02			
				
	112,184.02	004184		
*	1,159.87			
				
	1,159.87	004185		

2/19/19	00095	
2/19/19	00060	
2/26/19	00129	

2/13/19	Sl07318	201902	320-53800-57400			
2/13/19	INST.ACT/17	GATE	ARM/FUSE			
	Sl07318	201902	300-13100-10100			
	INST.ACT/17	GATE	ARM/FUSE			
- - -	- - -		-	-	- -	-	-	- -	ACCESS	CONTROL		
									- - - - -			
1/18/19	332383		201901	320-53800-46200			
1/18/19	RPLC		TIMER/JUNCTION	BOX			
	332383		201901	300-13100-10100			
	RPLC		TIMER/JUNCTION	BOX			
- - -	- - -		-	-	- -	-	- - -	SPIES	POOL  LLC		
								- - - - -			
1/04/19	4419				201901	320-53800-53200			
1/04/19	RPLC		STOP  SIGNS-MOLONA  ST			
	4419				201901	300-13100-10100			
2/19/19	RPLC		STOP  SIGNS-MOLONA  ST			
	4454		POT	201902	320-53800-53000			
2/19/19	RPR			HOLES-DESRT/GATHR			
	4454				201902	300-13100-10100			
2/19/19	RPR		POT	HOLES-DESRT/GATHR			
	4456				201902	320-53800-53200			
2/19/19	INST.SPEED  SIGN-RE  BLVD.			
	4456				201902	300-13100 -10100			
2/19/19	INST.SPEED  SIGN-RE  BLVD.			
	4457				201902	320-53800 -57400			
2/19/19	INST.DOOR  HANDLE/ADJ.DOOR			
	4457				201902	300-13100-10100			
2/19/19	INST.DOOR  HANDLE/ADJ.DOOR			
	4458				201902	320-53800-53200			
2/19/19	RPR	SIGN/2"ALUM.SLEEVE			
	4458				201902	300-13100-10100			
	RPR	SIGN/2"ALUM.SLEEVE			

TECHNOLOGIES,

INC.

*			389.56							
											
*			306.09							
											
-	-	- - - -	- -	-	-	-	-	695.65	004186		
								- - -			
*			148.65							
											
*			116.	80							
											
- -	- - - -	- -	-	-	-		265.45	004187		
						- - - -			
*			355.60							
											
*			279.40							
											
*			210.00							
											
*			165.00							
											
*			137.20							
											
*			107.80							
											
*			103.60							
											
*			81.40							
											
*			215.60							
											
*			169.40							

BERRY  CONSTRUCTION  INC.

1,825.00	004188	

REUE

REUNION

EAST

TVISCARRA

AP300R *** CHECK

DATES

02/01/2019

-

YEAR-TO-DATE
02/28/2019	***	

ACCOUNTS  PAYABLE  PREPAID/COMPUTER
REUNION  EAST-GENERAL  FUND
BANK  A  REUNION  EAST  COD

CHECK

REGISTER

RUN

3/03/19

PAGE

4

CHECK	VEND#	•••.• INVOICE •••••••• EXPENSED	TO...	SUB	VENDOR	NAME		
DATE		DATE	INVOICE	YRMO	DPT	ACCT#		SUBCLASS			

STATUS

AMOUNT

•••• CHECK •••••	
AMOUNT	#	

2/26/19	00166	

2/13/19	274129ES  201901  320-53800-43200		
2/13/19	GAS	CHARGE	01/08-02/06/19		
	274129ES  201901  300-13100-10100		
	GAS	CHARGE	01/08-02/06/19		

* *

847.84 666.16

2/26/19	00161	

- - -	-	- - - -	- - -	-	- - - - -	FLORIDA		
						- -		
2/20/19		1021	201902		320-53800-47700		
2/20/19		INST.FLANGE/WAX  RING/BULB			
		1021	201902		300-13100-10100		
		INST.FLANGE/WAX  RING/BULB			

NATURAL

GAS

-	- - -	-	-	- - -	-	-	1,514.00	004189		
							- - - -			
*				227.01						
										
*				178.36						

2/26/19	00119	

- - -	-	- -	-	-	- - -	- - - - - -	HERITAGE	SERVICE  SOLUTIONS	LLC		
							- -				
2/21/19	84447			201901	310-51300-31500				
		REV.AGNDA/LRA/TRUSTEE/MSA					

- -	-	-	-	- - - -	-	-	-	405.	37	004190		
								- -	-			
*				3,989.34								

2/26/19	00092	

- - -	- - - - -	- - -	- -	LATHAM,SHUKER,EDEN		
				- - - - - -		
1/31/19	013119	201901	320-53800-41000		
1/31/19	HC  PHONE	LINE	4574	JAN19		
	013119	201901	300-13100 -10100		
1/31/19	HC  PHONE	LINE	4574	JAN19		
	013119	201901	330-53800 -41000		
1/31/19	HC  PHONE	LINE	9758	JAN19		
	013119	201901	330-53800 -41000		
1/31/19	HC  PHONE	LINE	9867	JAN19		
	013119A	201901	330-53800 -43300		
	BALLROOM	CLEANING	JAN19		

&	BEAUDINE,LLP

* * * * *

-

- - -

-

-

-	- -	-	
	31.75		
	24.94		
56.69		
	56.69		
875.00		

-	3,989.34		
	- - - -		

004191

-	- - -	-	- -	-	
	2/26/19		00060		

- - - -	-	- - -	-	- - - -	REUNION	RESORT	-	-		
					- - - - - - -	-	-	- - - -				
2/02/19		332831		201902	320-53800-46200							
2/02/19		TRBLSHT	HEATR/PILOT  ASSY.							
	332831		201902	300-13100- 10100							
2/05/19		TRBLSHT	HEATR/PILOT  ASSY.							
		332848		201902	320-53800- 46200							
2/05/19		RPLC	2	6"VALVES/PMP  BASKT							
	332848		201902	300-13100-10100							
		RPLC	2	6"VALVES/PMP  BASKT							

- - - - - - - -

-	-	-	-	-	-	-	-	- - -	-	-	1,045.07	004192		
											- - - -			
		*						165.17						
														
		*						129.78						
														
		*						333.65						
														
		*						262.15						

2/07/19 2/07/19 2/07/19 2/07/19 2/12/19

332881 TRBLSHT 332881 TRBLSHT 332882 INSPECT 332882 INSPECT 332942 RPLC 32

201902 320 -53800-46200 HEATR/RPLC BURNER

201902 300-13100-10100 HEATR/RPLC BURNER 201902 320-53800-46200 HEATER/ADJ.BYPASS 201902 300-13100-10100 HEATER/ADJ.BYPASS 201902 320-53800-46200 19" FILTER GRIDS

*	164.56		
				
*	129	.29		
				
*	120.40		
				
*	94.60		
				
*	501.20		

REUE

REUNION

EAST

TVISCARRA

AP300R				YEAR-TO-DATE	ACCOUNTS  PAYABLE  PREPAID/COMPUTER	CHECK	REGISTER	
*** CHECK	DATES	02/01/2019	-	02/28/2019  ***	REUNION	EAST-GENERAL	FUND			
					BANK  A	REUNION  EAST	COD			

RUN	3/03/19	PAGE	5	

CHECK	VEND#	••••• INVOICE •••.•••• EXPENSED  TO...	SUB	VENDOR	NAME	STATUS		
DATE		DATE	INVOICE	YRMO	DPT  ACCT#		SUBCLASS				

AMOUNT

••.. CHECK •••••	
AMOUNT	#	

2/26/19

00092

2/12/19	332942	201902	300-13100-10100			
	RPLC  32	19"  FILTER  GRIDS			
			SPIES	POOL  LLC		
1/31/19	DUKE-DUK	201812	320-53800-43000			
1/31/19	DUKE  ENERGY  #54512  29301			
	DUKE-DUK	201812	320-53800 -43000			
1/31/19	DUKE  ENERGY  #64321-61161			
	DUKE-DUK	201901	320-53800 -43000			
1/31/19	DUKE  ENERGY  #54512  29301			
	DUKE-DUK	201901	320-53800 -43000			
1/31/19	DUKE  ENERGY  #64321-61161			
	RECDDREE	201901	320-53800 -46200			
1/31/19	POOL  CLEANING	SERVS-JAN19			
	RECDDREE	201901	300-13100-10100			
1/31/19	POOL  CLEANING	SERVS-JAN19			
	TOHO-TOH	201812	320-53800-43100			
1/31/19	TOHO  METER#49005514  DEC18			
	013119B	201901	320-53800-41000			
1/31/19	CP  PHONE	LINE	2365  JAN19			
	013119B	201901	300-13100 -10100			
1/31/19	CP  PHONE	LINE	2365  JAN19			
	013119B	201901	320-53800 -41000			
1/31/19	HS  PHONE	LINE	9325  JAN19			
	013119B	201901	300-13100 -10100			
1/31/19	HS  PHONE	LINE	9325  JAN19			
	013119B	201901	320-53800 -41000			
1/31/19	HS  PHONE	LINE	9385  JAN19			
	013119B	201901	300-13100 -10100			
	HS  PHONE	LINE	9385  JAN19			
			REUNION  RESORT		

*

* * * * * * * * * * * * *

393.80	
214.60	
496.67	
289.34	
607.76	
1,848.00	
1,452.00	
358.55	
31.75	
24.94	
31.	75	
24.94	
31.	75	
24.94	

2,294.60	004193	

5,436.99	004194	

TOTAL	FOR	BANK  A	
TOTAL	FOR	REGISTER	

163,135.15 163,135.15

REUE

REUNION

EAST	TVISCARRA

AP300R *** CHECK

DATES

02/01/2019

-

YEAR-TO-DATE
02/28/2019	***	

ACCOUNTS  PAYABLE	PREPAID/COMPUTER		
REUNION	EAST-R&M		R&M		
BANK  C	REUNION  EAST			

CHECK

REGISTER

RUN

3/03/19

PAGE

1

CHECK	VEND#
DATE

•.••• INVOICE .••...•. EXPENSED	TO. . .		VENDOR	NAME		
DATE	INVOICE	YRMO	DPT	ACCT#	SUB	SUBCLASS			

STATUS	AMOUNT	••.• CHECK ••.••	
		AMOUNT	#	

2/14/19	00006	

2/14/19	00016	

1/21/19	332324	201901	320-53800-64000					
1/21/19	INST.C-R406A-EN - C  HEATER					
	332324	201901	300-13100 -10100					
	INST.C-R406A-EN-C  HEATER					
			SPIES	POOL,	LLC		
10/19/18	4	201810	300-13100-10100					
	TRAFFIC	SIGNAL	APP#4					
			TRAFFIC	CONTROL		

DEVICES,	INC.

*				2,325.12						
										
*				1,826.88						
										
-	- -	-	-	- - - -	-	-	4,152.00	000066		
							- - - -			
*				20,571.20						
										
- - -	-	-	- - - - -	20,571.20	000067		
				-	- - - -			

2/14/19	00017	

2/05/19	22139	201902  320-53800-53200		
2/05/19	ll"RAD.!\R	SIGN/MNTING/DATA		
	22139	201902  300-13100-10100		
	ll"RADAR  SIGN/MNTING/OATA		

*	1,963.90		
			
*	1,543.06		

2/26/19	00001	

- - -	-	- - - -		
2/19/19		4455		
2/19/19		INST.20		
		4455		
		INST.20		

- -	-	- - - - - -	UNIVERSAL  SIGNS	&	ACCESSORIES,		
			- -					
201902	320-53800-53000					
ADA	MATS-TRAVERSE						
201902	300-13100-10100					
ADA	MATS-TRAVERSE	BERRY	CONSTRUCTION	INC.		

INC.

-	- - -	-	- - - -	-	-	3,506.96	000068		
						- - - -			
*			4,536.00						
									
*			3,564.00						
									
						8,100.00	000069		

TOTAL	FOR	BANK  C	
TOTAL	FOR	REGISTER	

36,330.16 36,330.16

REUE

REUNION

EAST

TVISCARRA

SECTION

3

.

•	•   •   •

•

•

Reunion East

Community

Development

District

Unaudited Financial Reporting

January

31, 2019

•

•

•

•

•

•

•

•

•

Table of Contents

1		Balance Sheet	
2	General Fund Income Statement	
3	Replacement & Maintenance Income Statement	
4	Debt Service Series 2002A-2	Income Statement	
5	Debt Service Series 2005	Income Statement	
6	Debt Service Series 2015A Income Statement	
7	Debt Service Series 2015-1	Income Statement	
8	Debt Service Series 2015-2	Income Statement	
9	Debt Service Series 2015-3 lncome Statement	
10	Capital Projects Series 2005 lncome Statement	
11-12		Month to Month	

13-14	FY19 Assessment Receipt Schedule

Reunion East COMMUNITY DEVELOPMENT DISTRICT COMBINED BALANCE SHEET

January 31, 2019

~

CASH

CUSTODY ACCOUNT

STATE BOARD OF ADMINISTRATION

INVESTMENTS

SERIES 2002A-2

Reserve

Revenue

SERIES 2005

Reserve

Revenue

Construction

SERIES 20 I 5A

Reserve

Revenue

Prepayment

SERIES 2015-1

Reserve

Revenue

SERIES 2015-2

Reserve

Revenue

SERJES 2015-3

Revenue

General

$1,623,839 $462,009

ReplDcemen r

&: Malnten1ncr

$271 ,203

$2,607,716

Debt

Servke

$3 $103,106

$4 $218,158

$175,000 $1,986,077 $23

$345,275 $424,417

$372,930 $378,346

Sl68,796

Capital

Projects

$10

(Memonmdum Only)

2019

$1,895,041 $462,009 $2,607,716

$3 $103,106

$4 $218,158 $10

$175,000 $1,986,077 $23

$345,275 $424,417

$372,930 $378,346

$168,796

DUE FROM REUNION WEST

DUE FROM GENERAL FUND

TOTAL ASSETS

LlABlLITIES;

ACCOUNTS PAY ABLE

CONTRACTS PAYABLE

DUE TO DEBT20l5A

DUE TO OTHER

DUE TO REUNION WEST

ACCRUED INTEREST PAYABLE 2002A-2

ACCRUED PRINCIPAL PAY ABLE 2002A-2

ACCRUED INTEREST PAY ABLE 2005

ACCRUED PRINCIPAL PAYABLE 2005

fUNP EOUJTY;

FUND BALANCES:

ASSIGNED

UNASSIGNED

RESTRICTED FOR DEBT SERVICE 2002A-2

RESTRICTED FOR DEBT SERVICE 2005

RESTRICTED FOR DEBT SERVICE 2015A

RESTRICTED FOR DEBT SERVICE 2015-1

RESTRICTED FOR DEBT SERVICE 2015-2

RESTRICTED FOR DEBT SERVICE 2015-3

RESTRICTED FOR CAPITAL PROJECTS

TOTAL  LIABILITIES & FUND EQUITY

$118,216	$22,266		
$2,204,063	$2,9011185		
			
$19,100	$24,723		
$1,323			
$5,000			
$7,500			
$24,809			

$242,752	$2,876,462	
$1,903,580		

$5,000

$4,177,134

$2,100,000 $1,927,180 $1,388,520 $1,590,000

($3,924,072) ($2,760,358) $2,166,100 $769,692 $751,276 $168,796

$10

$10

$140,481 $5,000

$9,282,392

$43,823 $1,323 $5,000 $7,500 $24,809 $2,100,000 $1,927,180 $1,388,520 $1,590,000

$3,119,214 $1,903,580 ($3,924,072) ($2,760,358) $2,166,100 $769,692 $751,276 $168,796 $10

& OTIIER CREDITS

S2,204,063	S2	901	185	$4,177,134	
		1	1		

$10

59,282~92

~		
Special	Assessments -	Tax Collector	
Special	Assessments •	Direct	
Interest					
Misa:llaneaus Income		
TOTAL	REVENUES	
EXPENQITJIRES·		
ADMINISTRA TIYE:		
Supervisor Fees		
FICA						
Eniinccring		
Attorney			
Trustee	Foes		
Arbitrage			
Collectioo Agent		
Dissemination		
Property	Appr11isLT Fee		
Property	Taxes		
Annual Audit		
District	Management Fees	
Infnrmation Technology	
Telephone			
Postage					
Printing		& Binding		
Insurance			
Lega]	Ad¥ertising		
Other	Current Charges		
Office	Supplies		
Travel	Per	Diem		
OJes,	Licenses & Subsaiptio11a	
	TOTAL ADMINISTRATIVE	
4fd.lrJI~~t[~...S,HdRlm. EXPENS,.E!i:	
Field M11J188cmcnt		
Facility	Lease Agrmnmt	
Telephone			
Etcccric					
Wmtz&Sewcr		
a..						
Pool & Fountain Maintenance	
Environmental		
Property		Insurance		
lrrig111ioo	Rq,airs		
Landscape	Contrac:I		
Landscape	Contingency		
Landscape	Consulting		
Gate aod		Gacehousc Expenses	
Roadways/Sidewalks		
Lighting					
MSA Building Rcpaini		
PrcssUR!Washing		
Maintenance {lnspedions)	
Repairs &	Maintcnanoc		
Pest Control		
Signage					
Scattity					
COM-il,1Vlll' CUllQH ·	
Landscape			
Tclcpbooe			
Eltaric					
WBlct&	Sewer		
a..						
Contmct	Clcanine		
Mainfcnanoe (lo.spoctioas)	
Mdl!!Il1.N..Af!.t;.fi.-DIREr.'l. U££li3.E!i:	
Irrigation	System Operations	
Contingcocy		
TramfcrOut		
	TOTAL MAINTENANCE	
TOTAL EXPENDITURES	
EXCESS REVENUES (EXPENDITURES)	
FUND	BALANCE - Beginnln&	
FUND	BALANCE - Ending:	

Reunion East					
COMMUNITY DEVELOPMENT DISTRICT			
GENERAL FUND					
Statement of Revenues		& Expenditures			
For The Period Ending Januat)'31,	2019			
ADOPTED	PRORATED BUDGET	
BUDGET			THRU 1131119		
$1,092,735		$764,228	
	$922,677		$462,262	
			$2S0				$83	
	$4,771			$1,590	
$2,020,433		$1	228 164	
	$12,000			S4,000	
			S918				$306	
	$15,000			$5,000	
	S35,000			$11,667	
	$17,500				$0	
	S3,600				so	
	S5,000			$5,000	
	SS,000			$1,667	
	$1,000			$1,000	
		$400				$400	
	$5,200				$0	
	$44,215			$14,758	
	$2,200				$733	
		S300				$IOO	
	S3,500			$1,167	
	$2,500				$833	
	Sl4,800			$14,800	
	$1	,500				$500	
		$600				$200	
		$500				$167	
		$500				$ 167	
		Sl75				$175	
	$171.468			$62,639	
	$39,851			$13,284	
	S22,884			S7,628	
	$4,760			$1,587	
	Sl30,400		$110,133	
	$44,800			Sl4,93)	
	$43,120			$14,373	
	$98,000			S)2,667	
	$5,600			$1,867	
	$25,620			$25,620	
	$8,400			Sl,800	
	$434,722		Sl44,907	
	$21,742			$7,247	
	$21	,840			$7,280	
	$17,920			$5,973	
	$28,000			S9,333	
	$5,600			$1,867	
	$22,400			S7,467	
	Sll	,200			Sl,733	
	$980			SJ27	
	Sll	,200			S3,733	
	$406			Sl3S	
	$2,240			S747	
	$78,400			$26,133	
	$16,000			SS,333	
	Sl,500			ssoo	
	S25,000			$8,333	
	Sl,500			$833	
	S3S0			Sill	
	SI0,000			S3	,333	
	$1	,250			$417	
$100,000		$33,333	
			so				so	
S412,280				$0	
$1	848 965		$495,915	
S2	.D20i433		SSS8.614	
			so					
			so					
			$0					

ACTIJAL					
TIIRU 1/31/19	VARIANCE		
$764,228		so		
$456,772	($5,490)		
S-463	$3 80		
$7,898	$6,307		
Sl.229	,361	$1	1197 1		

		s1,ooo		$0			
			$306		so			
		S3	,256	$1,744			
	SIO,S61	$1,105			
				$0		$0			
				$0		$0			
		SS,000		so			
		51,717		(S50)		
			$669	S331			
				S40	$360			
				so		$0			
	$14,758		so			
			$733		$0			
				S53		S47			
			$141	$1,025			
			$205	$628			
	$13,453	$1	,347			
				$0	$500			
				$0	$200			
				$84		$83			
				so	$ 167			
			Sl75		so			
	$55,151	$7488	1		
								
	$13,284		so			
		$7,628		so			
		$1,816	(S230)			
$1	39,	221	(S29,088)			
	Sl4,SS3	S380			
		$8,947	$S,426			
	$35,839	(S3,173)			
		$1,217	$650			
	$23,253	S2,367			
		S3,	192	($392)			
$159,567	($14,660)			
	S26,5S7	($19,310)			
	$11,656	(S4,376)			
		$3,669	$2,304			
		SJ,466	$5,867			
				so	$1,867			
		$2,742	S4,725			
		$3	,584	$149			
			$ 36	5290			
				$0	$3,733			
				so	$135			
		$3,220	($2,473)			
	$26,	133		so			
		$4,745	$588			
		$436		$64			
		S7,4IO	S924			
		$771		$62			
			S99		$18			
		$3	,	150	S18l			
	Sl , 183	($766)			
				so	$33,333			
				so		so			
				so		$0			
$501 .375	1$11.400)1		
$562,526	iS39llJI			
								
S666.83S					
Sl	479.497					
S2.	146	332					

2

Reunion East

COMMUNITY DEVELOPMENT DISTRICT

REPLACEMENT & MAINTENANCE FUND

Statement of Revenues & Expenditures

For The Period Ending January 31, 2019

REVENUES:	
Transfer In	
Interest		
TOTAL  REVENUES	
EXPENDITURES:	
Building	Improvements	
Fountain	Improvements	
Gal</Gatehouse hnprovements	
Landscape hnprovements	
Lighting hnprovements	
Monument Improvements	
Pool Furniture	
Pool Repair & Replacemmts	
Roadways/Sidewalks Improvement	
Signage		
Signeli.mlion	

ADOPTED

BUDGET

$412,280 $10,000

$422,280

$100,800 $14,000 $0 $75,600 $4,480 $14,000 $6,720 $22,400 $5,600 $36,400 $0

PRORATED		
THRU 1131/19		
	$0	
$3,333	
$3,333	
$33,600	
$4,667	
	$0	
$25,200	
$1,493	
$4,667	
$2,240	
$7,467	
$1	,867	
U2, 133	
	$0	

ACTI/AL		
THRU 1131/19	
	$0	
$21	,999	
$21.999	
$15,455	
	$0	
$3,244	
$28,157	
	$0	
	$0	
$7,918	
$4,650	
	$0	
	so	
$85,624	

VARIANCE		
$0		
$18,666		
$18 ,666	j	
$18,145		
$4 ,667		
($3,244)		
($2,957)		
$1,493		
$4,667		
($5,678)		
$2,816		
$1,867		
$12,133		
($85,624)		

TOT AL EXPENDITURES

EXCESS REVENUES (EXPENDITURES)

FUND BALANCE - Beginning

FUND BALANCE - Ending

$280.000	$93 ,333	
$142.280		
$2,909 .272		
$3,051 .552		

$145 ,048

($123.049)

$2,999.511

$2,876.462

($5 1.715 ) 1

3

Reunion East

COMMUNITY DEVELOPMENT DISTRICT

Debt Service 2002A-2

Statement of Revenues & Expenditures

For The Period Ending January 31, 2019

REVENUES:		
Special Asse.mnents		
lntem,t		
TOT AL  REVENUES		
EXPENDITURES:		
Interest Expense 1110 I		
Principal Expense 05/0 I		
Interest Expense 05/01		
TOTAL EXPENDITURES	
OTHER FINANCTNG	SOURCES {USESl	
Transfer In (Out)		
Other Debt Service Costs	
TOTAL OTHER		
EXCESS REVENUES (EXPENDITURES)	

ADOPTED

BUDGET

$0 $0

$0

$0 $0 $0

$0

$0 $0

$0 so

PRORATED THRU 1/31119

$0 so

$0

$0

$0 so

so

$0 $0

$0

ACTUAL

THRU 1/31/19	VARIANCE

	so	so			
	$683	$683			
$683	$683	I		
	so	$0			
	so	$0			
	so	so			
	so	so	I		
					
	so	$0			
($12,253)	($12,253)			
f$i2	,253l	($12.25311		
!SI 11570)				

FUND BALANCE - Beginning

FUND BALANCE • Ending

$0

$0

($3 ,912. 5021	
!S3.924	072)	
1	

4

Reunion East

COMMUNITY DEVELOPMENT DISTRICT

Debt Service 2005

Statement of Revenues & Expenditures For The Period Ending January 31, 2019

REVENUES:

Special Assessments

Interest

TOTAL  REVENUES

EXPENDITURES:

Interest Expense 11/01

Principal Expense 05/0 I

Interest Expense 05/01

TOTAL EXPENDITURES

QIHER FINAr,«J~!:, SOURCEI! (l.!!l!i;!;!l

Transfer In (Out)

Other Debt Service Costs

TOTAL OTHER

EXCESS REVENUES (EXPENDITURES)

FUND BALANCE - Beginning

FUND BALANCE - Ending

ADOPTED BUDGET

$0 $0

$0

$0 $0 $0

$0

$0 $0

$0

$0 so
$0

PRORATED THRU 1/31/19

$0 $0

$0

$0 $0 $0

$0

$0 $0

$0

ACTIJAL				
THRU 1/31/19	VARIANCE			
$0	$0			
$1,301	$1,301			
$1,301	$1,301			
$0	$0			
$0	$0			
$0	$0			
$0	so	I		
				
so	$0			
$0	$0			
$0	$0			
$1,301				
($2,761,659)				
($2,760,358)				

5

REVENUES:			
Special Assessments	- Tax Collector		
Jnterost			
TOTAL  REVENUES		
EXPENDITURES:			
lntor,::sl Expense 11/0	I		
Principal Expense 05/0 I		
Interest Expense 05/0 I		
TOT AL EXPENDITURES		
OTHER FJNANQNG SOURCES	fUSESl	
Transli,c In (Out)			
Other Debt Savioo Costs		
TOTAL OTHER			
EXCESS REVENUES (EXPENDITURES)	
FUND BALANCE -	B<1innlng		
FUND BALANCE -	Ending		

Reunion East		
COMMUNITY DEVELOPMENT DISTRICT	
Debt Service 2015A		
Statement of Revenues & Expenditures	
For Tho Period Ending	Januacy 31,	2019	
ADOPTED	PRORATED	
BUDGET	THRU 1/31/19	
$2,568,595	$1,793,082	
	$100	$33	
$2	,568.695	$1, 793. 115	
$666,325	$666,325	
$1,265,000	$0	
$666,325	$0	
$2	,597,650	S666.325	
	so	so	
	$0	so	
	$0	$0	
	f$28.955		
$841-825		
$812,870		

ACTIJAL THRU 1/31/19

$1,793,082 $3,937

$1,797,019

$666,325 $0 $0

S6116.J2S

$0 so

$0

$1 . 130 ,694

$1,035 ,406

$2,166.100

VARIANCE		
$0		
$3,903		
s3.903	I	
$0		
$0		
$0		
so	I	
$0		
so		
so	I	

6

Reunion East

COMMUNITY DEVELOPMENT DISTRICT

Debt Service 2015-1

Statement of Revenues & Expenditures

For The Period Ending January 31 , 2019

REVENUES:				
Special	Assessments	-	Tax Collector	
Special	Assessments	-	Oiroct	Billed	
lnterost					
TOTAL  REVENUES		
EXPENDITURES:				
Interest	Expense 11/0 I			
Principal Expense 05/0 I		
Interest	Expmse 05/0 I			
TOTAL EXPENDITURES		
OTHER FINANCING SOURCES fUSESl	
Transrer In (Out)				
Other Debt Service Costs		

ADOPTED

BUDGET

$22,855 $656,310 so

$679. 165

$212,685 $260,000 $212,685

$685.370

$0 $0

PRORATED		
THRU 1/ 31/19	
$18,539	
$330,682	
	so	
$349,221	
$212,685	
	$0	
	$0	
$21	2.685	
	so	
	so	

ACTUAL THRU 1/31/19

$18,539 $327,863 $3,092

$349,494

$212,685

$0 so

$212.685

so so

VARIANCE		
	$0		
(S2	, 819)		
SJ,092		
s213	1	
	$0		
	$0		
	$0		
	so	1	
	$0		
	$0		

TOTAL OTHER

EXCESS REVENUES (EXPENDITURES)

FUND BALANCE - Beginning

FUND BALANCE - Ending

$0	$0	

($6,205 )

$285 .892

$279,687

$0

$136.809

$632.883

$769.692

so I

7

Reunion East

COMMUNITY DEVELOPMENT DISTRICT

Debt Service 2015-2

Statement of Revenues & Expenditures

For The Period Ending January 31, 2019

REVENUES:

Special Ass'8smonts • Direct Billed

Interest

TOTAL  REVENUES

EXPENDITURES:

Special Call I 1/01

Interest Exp"'se I 1/01

Principal Expense 05/01

Interest Expense 05/0 I

ADOPTED

BUDGET

$745,860 $100

$745,960

$0 $258,390 $235 ,000 $258,390

PRORATED TIIRU 1/31/19

$372,930 $33

$372. 963

$0 $258,390 $0 $0

ACTUAL THRU 1/31/19

$369,702 $2,993

$372,695

$5,000 $258,390 $0 $0

VARIANCE

($3,227)

$2,960

($268) 1

($5,000)
so
so
so

TOTAL EXPENDITURES

OTHER FINANCING SOURCES 0/SES)

Transfer In (Out)

Otha Debt Service Costs

TOTAL OTHER

EXCESS REVENUES (EXPENDITURES)

FUND BALANCE - Beginning

FUND BALANCE - Ending

$751 .780	$258,390	
$0	$0	
$0	$0	
$0	$0	
($5,820)		
$266.544		
$260.724		

$263.390

$0 $0

$0

$109 ,305

$641,970

$751,276

1s5	_000'1l	
	so		
	so		
	so	I	

8

Reunion East

COMMUNITY DEVELOPMENT DISTRICT

Debt Service 2015-3

Statement of Revenues & Expenditures

For The Period Ending January 31, 2019

REVENUES:

Special Assessments - Dinect	Billed	
Interest			
TOTAL  REVENUES			
EXPENDITURES:			
Interest Expense 11/0 I			
Principal Expmse 05/01			
lntc:rost Expense 05/01			
TOTAL EXPENDITURES		
OTHER FINANCING	SOURCES CU~ESI	
Transfer In (Out)			
Other Debt Service Costs		

ADOPTED

BUDGET

$336,265 $0

$336.265

$104,775 $130,000 $104,775

$339.550

so $0

PRORATED THRU 1131/19

$167,631 $0

$167.631

$104,775 $0 $0

$104.775

$0 so

ACTUAL		
THRU 1131/19		
$166,179	
$319	
$166,498	
$104,775	
	$0	
	$0	
$104.	775	
	$0	
	$0	

VARIANCE		
($1	,452)		
$319		
tSl . 1331!	
	$0		
	$0		
	so		
	so	I	
	$0		
	$0		

TOTAL OTHER

EXCESS REVENUES (EXPENDITURES)

FUND BALANCE - Beelnnlng

FUND BALANCE - Ending

$0	$0	

($3 .2851

$106.792

$103,507

	so	
$61.723	
$107,073	
$168.	796	

so I

9

Reunion East

COMMUNITY DEVELOPMENT DISTRICT

Capital Projects 2005

Statement of Revenues & Expenditures

For The Period Ending January 31, 2019

REVENUES:

Interest

TOTAL  REVENUES

EXPENDITURES:

Capital Outlay

TOTAL EXPENDITURES

OTHER FCNA!:'.!~11:'.!g OllRCT.S (!lSESl

Transfer In (Out)

TOTAL OTHER

EXCESS REVENUES (EXPENDITURES)

FUND BALANCE - Beginning

FUND BALANCE - Ending

•

•

ADOPTED

BUDGET

$0

$0

$0

$0

$0

$0

$0

$0

$0

PRORATED THRU 1/31/19

$0

$0

$0

$0

$0 so

ACTUAL THRU 1/31/19

$0

$0

$0

$0

$0

$0

$0

$10

$10

VARIANCE

$0		
so	I	
$0		
so	I	
$0		
so	I	

10

Revea■ es		
Special	Assessments -	Tu Collector	
Special	Assessments -	Direct	
Interest			
Miscellaneous [ncomc		
Total	Revtnus		
Expenditures		
Administrative		
Supervisor Fees		
FICA				
Engineering		
Attorney		
Trustee	Fees		
Arbitrage		
Colltttion Agent		
Dissemination		
Property Appraiser Fee		
Property Taxes		
Annual	Audit		
District	Management Fees	
lofonnation Technology	
Tdq,hooe		
Postage			
Printing & Binding		
Insurance		
Legal	Advertising		
Other Current Charges		
Office Supplies		
Travel	Per Diem		
Dues,	Licenses & Subscriptions	

Oct	Nov		
$0	$147,278	
so	51,848	
$114	$118	
$398		so	
SSII	5149. 243	
Sl,000	$1	,000	
$77		$77	
Sl,201	S769	
$2,189	Sl,422	
$0		$0	
$0		so	
SS,000		so	
$467	$417	
$0		so	
so		$40	
$0		$0	
S3,690	SJ	,690	
5183	5183	
so		SJJ	
SIOO		$14	
S92		S25	
$13,453		$0	
$0		$0	
so		so	
S21		$21	
so		so	
$175		so	
527. 647	$7,689	

			Reunion East COD									
			Month to Month									
na:	Jan	Feb	Mar	Apr	May	Jun	Jul	Aul	Sepe			
													
$578,826		S38,125	so	$0	so	$0	so		$0	$0	so		
so		$454,924	so	so	so	so	so		$0	so	$0		
S114		Sl18	$0	so	so	$0	$0		$0	$0	so		
so		S7,SOO	so	$0	so	so	$0		$0	so	so		
													
$5711.939		5500. 667	so	$0	so	so	so		so	$0___	$0		
Sl,000		Sl,000	so	so	$0	$0	so		so	so	so		
S77		S77	so	so	$0	$0	so		so	so	so		
$470		$816	so	so	so	so	so		so	so	so		
$2,961		$3,989	so	so	so	so	so		so	$0	so		
so		$0	$0	$0	$0	so	so		$0	so	so		
so		$0	so	so	so	$0	$0		so	$0	so		
so		$0	so	so	$0	so	so		$0	so	so		
$417		$417	so	$0	$0	so	so		so	so	so		
so		S669	so	$0	so	$0	$0		so	$0	$0		
so		$0	$0	so	so	so	so		$0	so	so		
so		$0	$0	so	$0	$0	so		so	$0	so		
S3,690		$3,690	so	so	so	$0	so		$0	so	so		
$183		$183	$0	$0	so	so	$0		so	so	so		
520		$0	so	so	so	so	so		so	$0	so		
$23		S6	so	so	$0	$0	so		so	$0	so		
S39		$SO	so	so	$0	so	$0		so	$0	so		
so		so	so	so	$0	$0	so		so	$0	$0		
so		so	so	so	$0	$0	so		$0	$0	so		
so		so	so	so	so	so	$0		so	$0	so		
S21		$20	so	so	so	so	so		so	$0	so		
so		$0	so	so	so	$0	so		$0	so	so		
so		so	so	$0	so	so	so		so	so	so		
ss,~	$10,915	so	so	so	so	$0		$0	so	so		

Total		
$764,228		
$456,772		
S463		
S7,898		
Sl.229,361	!	
$4,000		
S306		
SJ,256		
$10,561		
so		
so		
$5,000		
Sl,717		
S669		
$40		
so		
Sl4, 758		
$733		
SSJ		
Sl41		
S20S		
SIJ,453		
so		
$0		
S84		
so		
S17S		
lSS. 1511	

11

Maintenance		
Field Management		
Facility Lease Agreement		
Telephone			
Electric				
Water&	Sewer		
Gas				
Pool & Fountain Maintenanoe	
Environmental		
Property	Insurance		
Irrigation			
l.andsapeConlnlct		
Landscape	Contingency		
Landscape	Consulting		
Gatehouse	end G1ltehouse	Expenses	
Roadways/Sidewalks		
Lighting				
MSA Building Repairs		
Pressure	Washing		
Maintenance (Inspections)		
Repairs &	Maintenance		
Pe..tControl		
Signag,,				
Security				
Community Center		
Lnndscape			
Telephone			
Electric				
Waler&	Sewer		
Gas				
Contract	Cleaning		
Maintenance (Jmpections)		
Maintenaact-Dlrect		
Irrigation System Operations	
Contingency		
Transfer Out		
Total Expenditures		
Excess Revenues (Expenditures)	

I I

Oct

S3,321	
$1	,907	
$458	
S33,450	
S3,l56	
S415	
S6,898	
S778	
$23,253	
Sl,927	
$30,285	
$24,789	
Sl,820	
$856	
$588	
	so	
$2,173	
$3	,248	
	so	
	so	
	so	
Sl,156	
S6,533	
$991	
S113	
S2,491	
Sl58	
	S2S	
$825	
	$0	
	$0	
	so	
	so	
SISl,614	
S179,262	
(Sl7M ,750)	

Nov

$3,321 Sl,907 $459 $35,4!0 S3,63l S!,982 S9,238

$146 so

$477 S60,018 Sl,331 $4,225 S1,750

$2,145 so

$113 so so

$0 $0 $540 S6,533

Sl,743 $ll3 SZ,232 $283 $25

S750 so

$0 so so

5138,372

$146,061

$3,182

Doc

SJ,321	
Sl,907	
	$440	
$35,689	
S3,732	
S2,089	
Sll,557	
	Sl46	
	$0	
S279	
$38,917	
	$322	
$3,791	
	S772	
	so	
	$0	
	so	
	so	
	$36	
	so	
	so	
S907	
S6,533	
Sl,130	
	S96	
$1	,564	
$165	
	S25	
S700	
Sl,183	
	$0	
	$0	
	so	
SIIS,300	
Sl24,199	
$454,740	

	Reunion East CDD								
	Month to Month								
Ja■	Feb	Mar	Afr	May	Jun	Jul	Au&	Sept		
										
SJ,321	so	so	so	$0	$0	so	so	$0		
$1,907	so	$0	so	$0	$0	so	so	$0		
$459	so	$0	so	$0	$0	so	so	$0		
$34,673	so	so	$0	so	$0	so	$0	so		
	so	so	so							
S4,034				so	so	so	$0	so		
S4,462	so	so	$0	so	so	so	so	$0		
	so	so								
SS,147			$0	so	$0	so	$0	so		
$146	so	so	so	so	$0	so	$0	so		
	so	so	so	$0	$0	so	so	$0		
$0										
	so	so	so	$0	so	$0	so	$0		
S510										
	so	so	so	so	so	so	so	$0		
$30,347										
	so	so	so	so	so	so	so			
$115								so		
$1,820	so	so	so	so	so	so	$0	so		
S292	so	$0	so	so	so	so	so	so		
S734	so	so	so	$0	so	so	so	so		
so	so	$0	so	so	so	so	so	$0		
S456	$0	so	$0	so	so	so	so	so		
S336	so	so	$0	so	so	so	so	so		
so	$0	so	so	so	$0	$0	so	so		
so	$0	so		so	$0	$0	$0	so		
$0	so	so	so	so	$0	$0	so	so		
S616	$0	so	so	so	so	$0	so	so		
S6,533	$0	so	so	so	$0	$0	so	so		
$881	$0	so	so	so	$0	so	so	so		
S113	so	so	so	so	$0	so	$0	so		
$1,123	so	$0	so	so	$0	$0	$0	so		
	so	$0	so	so	so	so	so	so		
$165										
	so	$0	so	so	so	so	$0	so		
$24										
			so	so						
$875	$0	$0			$0	$0	so	so		
so	so	so	so	$0	so	so	so	so		
so	so	so	so	so	$0	so	so	$0		
$0	so	so	so	so	so	so	so	so		
so	so	so	$0	$0	so	so	$0	$0		
S102,088	so	so	so	$0	so	so	so	so		
										
S113,004	$0	so	so	$0	so	so	so	so		
										
$387,663	so	so	$0	$0	so	$0	$0	$0		

Total			
Sl3,284	
$7,628	
Sl,816	
$139,221	
Sl4,553	
$8,947	
S35,839	
Sl,217	
$23,253	
$3,192	
S159,567	
S26,557	
$11,656	
S3,669	
SJ,466	
		so	
S2	,742	
S3,584	
		$36	
		$0	
		so	
SJ,220	
S26,133	
$4,745	
S436	
$7,410	
$171	
		$99	
$3, 150	
$1,IBJ	
		so	
		so	
		so	
$5()7,!751	
SSU.	5261	
s.l~,	8351	

12

Oate

Received

DlsL

Gross Assessments

Received

Discounts/

Penalties

REUNION EAST					
COMMUNITY	DEVELOPMENT DISTRICT			
SPECIAL ASSESSMENT RECEIP'TS • FY2019			
TAX COLLECTOR					
	Gross Assessments	$	3,921,565	$	1,163,488	
	Net Au1ssm1nts	$	3,686,271	$	1,093,679	
Commissions	rnterest	Net Amount	General Fund	
Paid	Income		Received		29.67%	

$	2,729,852	$	28,224	
$	2,S&&,061	$	26,531	
	2015A		2015-1	
Debt Svc Fl.l'ld	Debt Svc Fund	
	69.61"		0.72"	

Total 100%

11/9/18 11/26/18 12/10/18 12/21/18 1/11/19 1/11/19 1/11/19 2/13/19 2/13/19

Totals

ACH ACH ACH ACH ACH ACH ACH ACH ACH

$	36,568.51	$	
$	491,514.77	$	
$	1,834,885.23	$	
$	238,146.51	$	
$	115,954.48	$	
$	18,825.90	$	
$		$	
$	3,037.48	$	
$	165,036.39	$	
$		$	
$		$	
$		$	
s		$	
$		$	
$		$	
$		$	
$		$	
$		$	
$		$	
$	2,903,969.27		

1,889.31 19,660.91 73,396.33 8,875.14 3,500.71 489.06

61.49 3,565.70

111,438.65

$ $ $ $ $ $ $ $

$ s
$ $ $ $ $ $ $ $ $

693.58	$	
9,437.08	$	
35,229.78	$	
4,585.42	$	
2,249.07	$	
366.75	$	
	$	
59.53	$	
3,229.40	$	
	$	
	$	
	s	
	$	
	$	
	$	
	$	
	$	
	$	
	$	
55,850.61	$	

326.67

326.67

$	33,985.62	
$	462,416.78	
$	1,726,259.12	
$	224,685.95	
$	110,204.70	
s	17,970.09	
$	326.67	
$	2,916.46	
$	158,241.29	
$		
s		
s		
$		
$		
$		
$		
$		
$		
$		
$		
$2,737,006.68	

$ $ $ $ $ $ $ $

$ s

$ s
$ $ $ $ $ $ $ $ $

10,083.19 137,194.35 512,163.51 66,662.03 32,696.61 5,331.54 96.92 865.28 46,948.58

812,042.02

$	23,657.83	
$	321,894.36	
$	1,201,671.50	
$	156,406.82	
$	76,714.93	
$	12,509.21	
$	227.40	
s	2,030.19	
$	110,153.83	
$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$	1,905,266.07	

$ $ $ $ $

$ s s
$

$ s

$ $

$ s

$ $ $ $ $ $

244.60 3,328.07 12,424.11 1,617.09 793.16 129.33 2.35 20.99 1,138.88

19,698.59

$	33,985.62	
$	462,416.78	
$	1,726,259.12	
s	224,685.95	
$	110,204.70	
$	17,970.09	
$	326.67	
$	2,916.46	
$	158,241.29	
$		
s		
$		
s		
s		
$		
$		
$		
$		
$		
$		
$	2,737,006.68	

13

Otlcommunltles	
DATE	DUE	
REalVED	DATE	
2/21/19	11/1/18	
2/21/19	2/1/19	
	5/1/19	
EHOF Acquisitions II, UC	
DATE	DUE	
RECEIVED	DATE	
1/2/19	11/1/18	
	2/1/19	
	5/1/19	
EHOF Acquisitions II, LLC	
DATE	DUE	
RECEIVED	DATE	
1/2/19	11/1/18	
	2/1/19	
	5/1/19	
EHOF Acquisitions II, LLC	
DATE	DUE	
REalVED	DATE	
1/2/19	11/1/18	
	2/1/19	
	5/1/19	
	LRA Orlando LLC	
	DATE	
	RECEIVED	
	11/16/18	
	11/16/18	
	11/16/18	

				OFF ROLL	ASSESSMENTS											
			$25,974.00				$10,982.00		$5,636.00		$6,455.00		$2,901.00		
																
						100%		4228%		2170%		24	85%		1117%		
CHECK			NET		AMOUNT		GENERAL		SERIES		SERIES		SERIES		
NO.			ASSESSED		RECEIVED		FUNO		2015-1		2015-2		2015-3		
30939		$	12,986.00	$	12,987.00	$	5,491.00	$	2,B1B.00	$		3,227.50	$	1,450.50		
30939			6,494.00													
		$		$	6,494,00	$	2,745.71	$	1,409.11	$		1,613.87	$	72S.31		
		$	6,494.00	$		$		$		$			$	.		
																	
		$	25 974,00	$	19,481.00	$	8,236.71	$	4 227.11	$	4,841.37	$	2,175.81		
																
		$417,271.00			$60,979.00	$133,942.00	$153,398.00		$68,952.00		
						100%							
CHECK								1461%		3210%		3676%		1652%		
			NET		AMOUNT		GENERAL		SERIES		SERIES		SERIES		
NO.		s	ASSESSED		RECEIVED	s	FUND	s	2015-1		2015-2		Z01S·3		
WIRE															
			208,635.00	$	208,635 .00		30,489.43		66,970.84	$	76,698.82	$	34,475.92		
		$	104,	318.00	$		$		$		$			$			
		$	104,	318.00	$		$		$		$			$			
		$	417	271,00	$	208,635.00	$	30,489.43	$	66,970.84	$	76,698.82	$	34,475.92		
		$511,249.00			$358,021.00	$57,603.00	$65,971.00	$29,654,00		
CHECK						100%		7003%		1127%		12	90%		580%		
			NET		AMOUNT		GENERAL		SERIES		SERIES		SERIES		
NO.			ASSESSED		RECEIVED		FUNO		2015-1		2015-2		2015-3		
WIRE		$													
			255,625.00	$	255,625.00	$	179,010.85	$	28,801.56	$	32,985.56	$	14,827.03		
		$	127,812.00	$		$		$		$			$			
		$	127,812.00	$		$		$		$			$			
		$	511,249.00	$	255,625.00	$	179,010.85	$	ZS 801.56	$	32,985.56	$	14 827,03		
		$1,698,712.00			$490,847.00	$454,076.00	$520,036.00	$233,753.00		
												
CHECK						100%		2890%		2673%		30	61%		1376%		
			NET		AMOUNT		GENERAL		SERIES		SERIES		SERIES		
NO.			ASSESSED		RECEIVED		FUND		2015-1		201S·Z		2015-3		
															
WIRE		$	849,l5&,00	$	849,!5 6,00	$	24S,423.SO	$	227,038.00	$	260,018.00	$	11.6,876.50		
		$	424,678.00	$	.	$		$		$			$			
																	
		$	424,678.00	$		$		$		$			$			
																
		$1698 712-00	s	849,356.00	$	24S 423.50	$	22.7,038.00	$	260,018 .00	$	116.876,SO		
						$6,901.00				$1,848.00		$S,OS3.00				
DUE			CHECK		NET		AMOUNT		GENERAL		SERIES				
DATE															
			NO.	s	ASSESSED	s	REalVED		FUND		2015-1				
															
11/1/18		2814		3,451.00		3,4Sl.OO	$	924,00	$	2, 527.00				
2/1/19			2814	$	1,725.00	$	1,725,00	$	462,00	$	1,263.00				
S/1/19			2814	$	1,725.00	$	1,725.00	s	462.00	$	1,263.00				
					$	6,901.00	$	6901,00	$	1,848.00	$	5,053.00				
					SUMMARY											
			GENERAL	DfBT SERVICE	DEST SERVICE	DEBT SERVICE							
			FUND	SERIES 2015-1	SERIES 2015-2	SERIES 2015-3							
TOTAL DIRECT	BILLED	$922,677.00		$656,310.00		$745,860.00		$335,260.00							
TOTAL REalVED	$	465,008.49	$	332,090.50	$	374,543.75	$	168,355.25							
VARIANCE	$	(457,668.51)	$	1324,219,SOI	$	1371,316,251	$	1166 904,75)							

14

SECTION

4

Reunion East/West CDD Direct Billed Assessments for FY 2019

District

Reunion East

IL.andownder

Citicommunities

35-25-27-4885-PRCL-OC30

Estoppel

Totals

Product

Total

o& M

$10,982

$10,982

Total Debt

$14,992

$14,992

Total

Due

$25,974

$25,974

Nov

Feb

May

Total

O&M

$5,491 $2,746 $2,746

$10,982

Debt

$7,496 $3,748 $3,748

$14,992

Total	Paid	
$12,987	paid 2/25/19	
$6,494 Paid 2/25/19	
$6,494		
$25,974		

LRA ORLANDO LLC		$1,848	$5,053	$6,901		
35-25-27-4885-PRCL-OC30	4					
		MF				

	O&M	
Nov	$924	
Feb	$462	
May	$462	
Total	$1.848	

Debt $2,527 $1,263 $1263 $5,053

Total	Paid	
$3,451		
$1,725		
$1,725		
$6,901		

11/5/18 11/5/18 11/5/18

EHOF					
11-1-15 Interest					
27-25-27·298S·TRAC-FD20  30	Comm/755 MF	$358,021		
35-25-27-					
	242.29 Comm/701 MF/300 Hotel	$490,846		
4895•PRCL-01C0				
27-25·27·2985•TRAC-FD30	10 Comm/56 MF/104 Hotel	$60,979		
			~09,846		

$153,228 $1,207,865 $356.292 $1,717,385

$511,249 $1,698,711 $417,271 $2,627,231
- -

	O&M	
Nov	$454,923	
Feb	$227,462	
May	$227,462	
Total	$909,846	

Debt

$858,693 $429,346 $429,346 $1,717,385

Total	Paid		
$1,313,616	Paid	1/2/19	
$656,808			
$656,808			
$2,627,231			

District

Reunion West

IL.andownder Reunion West SPE 27-25•27-4927-0001-WCl0 27-25-27-4927-000lSFl0 27-25·27-4927-0001-SF20 27-25•27-4935-0001-0XX0

Total O&M	Total Debt	Total Due	
$7,276		$7,276	
$37,864		$37,864	
$41,725		$41,725	
$32,667.00		$32,667	
$119,532.00	$0.00	$119,532.00	

Dec

March

June

September

Total

O&M

$29,883 $29,883 $29,883 $29,883 $119,532

Debt	Total	Paid	
$0	$29,883 Paid 1/30/2019	
$0	$29,883		
So	$29,883		
$0	$29,883		
$0	$119,532		

Reunion West HOA	$202,932	so	$202,932	
22-25-27-4923-0001-00B0				

Dec

March

June

September

Total

$50,733.00 $50,733.00 $50,733.00 $50,733.00 $202,932.00

$0.00	$50,733.00	Paid 1/30/2019	
$0.00	$50,733.00		
$0.00	$50,733.00		
$0.00	$50,733.00		
$0.00	$202 932.00