river glen community development district · 5/21/2020 · river glen . community development...

River Glen Community Development District

Board of Supervisors’ Meeting May 21, 2020

District Office: 2806 N. Fifth Street

Unit 403 St. Augustine, Fl 32084

www.riverglencdd.org

http://www.riverglencdd.org/

RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT

Rizzetta & Company, Inc., 2806 North Fifth Street, Unit 403, St. Augustine, FL 32084

Board of Supervisors Glenn Marvin Chairman Douglas Walker Vice Chairman Scott Campbell Assistant Secretary Gretchen Copeland Assistant Secretary Charles Moore Assistant Secretary District Manager Lesley Gallagher Rizzetta & Company, Inc. District Counsel Katie Buchanan Hopping Green & Sams, P.A. District Engineer Dan McCranie McCranie & Associates

All cellular phones must be placed on mute while in the meeting room. The first section of the meeting is called Audience Comments, which is the portion of the agenda where individuals may make comments on Agenda Items. The final section of the meeting will provide an additional opportunity for Audience Comments on other matters of concern that were not addressed during the meeting. Individuals are limited to a total of three (3) minutes to make comments during these times. Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this meeting/hearing/workshop is asked to advise the District Office at least forty-eight (48) hours before the meeting/hearing/workshop by contacting the District Manager at (904) 436-6270. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) 1-800-955-8770 (Voice), who can aid you in contacting the District Office. A person who decides to appeal any decision made at the meeting/hearing/workshop with respect to any matter considered at the meeting/hearing/workshop is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made including the testimony and evidence upon which the appeal is to be based.

RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT DISTRICT OFFICE • 2806 N. FIFTH STREET • UNIT 403 • ST AUGUSTINE, FL 32084 904-436-6270

www.riverglencdd.org

May 12, 2020 River Glen Community Development District

AGENDA

Dear Board Members: The regular meeting of the Board of Supervisors of the River Glen Community Development

District will be held on Thursday, May 21, 2020 at 3:30 p.m. via teleconference at 1-929-205-6099 Meeting ID 680 626 4765, pursuant to Executive Orders 20-52 and 20-69 and 20-114 issued by Governor DeSantis on March 9, 2020, March 20, 2020, April 29, 2020, and May 8, 2020, respectively, and pursuant to Section 120.54(5)(b)2., Florida Statutes. Following is the agenda for the meeting.

1. CALL TO ORDER/ROLL CALL 2. PUBLIC COMMENTS 3. BUSINESS ADMINISTRATION

A. Consideration of the Minutes of the Board of Supervisors’ Regular Meeting held February 20, 2020..................................................................Tab 1 B. Ratification of Operation and Maintenance Expenditures for February 2020 March 2020 and April 2020..........................................................................Tab 2 C. Ratification of Acceptance of Annual Audit Report, Fiscal Year Ending September 30, 2019.....................................................................................Tab 3 D. Consideration of Resolution 2020-05, Re-Designating Secretary................Tab 4 E. Consideration of Resolution 2020-06, Amending Bank Signatories.............Tab 5

4. STAFF REPORTS A. District Counsel

B. District Engineer C. Field Inspection Report 1.) Field Service Manager Report, April 22, 2020........................................Tab 6 i.) BrightView Landscape Response, April 27, 2020

D. Landscape Report 1.) BrightView Landscape Report, May 2020...............................................Tab 7 E. Amenity Manager Report 1.) First Coast CMS, Amenity Manager Report, May 2020..........................Tab 8 F. District Manager 1.) Solitude Lake Management Report, April 3, 2020..................................Tab 9

5. BUSINESS ITEMS A. Presentation of Registered Voter Count......................................................Tab 10 B. Consideration of Resolution 2020-07, Adopting Internal Controls Policy....Tab 11 C. Consideration of Proposals for Additional Security Cameras......................Tab 12 D. Consideration of Resolution 2020-08, Approving Proposed Budget and Setting Public Hearing...........................................................................Tab 13 E. Discussion Regarding Re-opening of Amenities Due to COVID-19

6. SUPERVISOR REQUESTS 7. ADJOURNMENT I look forward to seeing you at the meeting. In the meantime, if you have any questions, please do not hesitate to contact me at (904) 436-6270.

Very truly yours, Lesley Gallagher

District Manager

CALL TO ORDER / ROLL CALL

AUDIENCE COMMENTS

BUSINESS ADMINISTRATION

RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT February 20, 2020 Minutes of Meeting

Page 1

MINUTES OF MEETING 1

2 Each person who decides to appeal any decision made by the Board with respect to any matter 3 considered at the meeting is advised that the person may need to ensure that a verbatim record 4 of the proceedings is made, including the testimony and evidence upon which such appeal is to 5 be based. 6 7 RIVER GLEN 8 COMMUNITY DEVELOPMENT DISTRICT 9 10 The regular meeting of the Board of Supervisors of River Glen Community Development 11 District was held on Thursday, February 20, 2020 at 1:30 p.m. at the River Glen Amenity 12 Center, located at 65084 River Glen Parkway, Yulee, Florida 32097. 13 14 Present and constituting a quorum: 15 16 Glenn Marvin Board Supervisor, Chairman 17 Doug Walker Board Supervisor, Vice Chairman 18 Gretchen Copeland Board Supervisor, Assistant Secretary 19 Charles Moore Board Supervisor, Assistant Secretary 20 21 Also present were: 22 23 Lesley Gallagher District Manager, Rizzetta & Company, Inc. 24 Tyree Brown Field Service Manager, Rizzetta & Company, Inc. 25 Sarah Warren District Counsel, Hopping Green & Sams 26 Dan McCraine District Engineer, McCraine & Asscoiates 27 Tony Shiver President, First Coast CMS 28 Jay Jernigan Senior Account Manager, BrightView Landscaping 29 30 31 Audience members present. 32 33 FIRST ORDER OF BUSINESS Call to Order 34 35 Ms. Gallagher called the meeting to order at 1:30 p.m. and read the roll call. 36 37 SECOND ORDER OF BUSINESS Audience Comments on Agenda Items 38 39 There were no audience comments. 40 41 42 43 44 45


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THIRD ORDER OF BUSINESS Consideration of the Minutes of the Board of 46

Supervisors’ Regular Meeting held 47 November 21, 2019 48

49 50 On a motion by Mr. Marvin, seconded by Mr. Moore, with all in favor, the Board approved the Minutes of the Board of Supervisors’ Regular Meeting held November 21, 2019 for River Glen Community Development District.

51 FOURTH ORDER OF BUSINESS Ratification of the Operation and 52

Maintenance Expenditures for November 53 2019, December 2019 and January 2020 54

55 On a motion by Mr. Marvin, seconded by Mr. Moore, with all in favor, the Board ratified Operations and Maintenance Expenditures for November 2019 in the amount of $20,511.93, December 2019 in the amount of $33,337.85 and January 2020 in the amount of $27,878.78 for River Glen Community Development District.

56 FIFTH ORDER OF BUSINESS Staff Reports 57 58

A. District Counsel 59 Ms. Warren updated the Board that her firm provided the District Manager with the 60 Amended Amenity Policies based on revisions previously approved. She also 61 noted the she had reached out to two HOA Board Members regarding parking and 62 not received responses back. Mr. Moore noted that there was an HOA meeting 63 scheduled for next week and anticipated she would receive a response following 64 the meeting. Ms. Warren then updated the Board that there is a bond validation 65 hearing scheduled for April 6, 2020 in response to a question from the Chairman 66 regarding a DR Horton update. The Chairman requested that the DR Horton plans 67 be forwarded to the District Engineer. 68

69 B. District Engineer 70

Mr. McCranie updated the Board that he has been running into some challenges 71 having the contractor begin the road striping due to the limited scope and schedule. 72 He reviewed that he had looked into the draining concerns along Edwards Road 73 between fencing and sidewalk and a proposed plan to remedy this. When asked an 74 approximate cost for repairs he estimated between $15,000.00 and $20,000.00 75 Discussions ensued. Due to these concerns being limited at this time the Board did 76 not feel that any action was required immediately and would review further at a 77 later time if necessary. 78

79 80 81 82


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83 C. Field Inspection Reports 84 1.) Field Service Manager Report, January 27, 2020 85 Mr. Tyree Brown, Field Services Manager, was introduced to the Board as he will 86

be handling the River Glen CDD account going forward. Mr. Brown briefly reviewed 87 the field inspection report and was available to answer questions. 88

89 D. Landscape Report 90 1.) BrightView Landscape Report, February 7, 2020 91 Mr. Jernigan provided a brief update and was available to answer any questions. 92 93 E. Amenity Manager Report 94 1.) First Coast CMS, Amenity Manager Report, February 1, 2020 95 Mr. Shiver reviewed his report found under tab 6 of the agenda. He updated the 96

Board that additional areas of pressure washing outside of the scope provided were 97 completed and subsequently an invoice in the amount of $1,350.00 was received 98 for this work. Discussions ensued. The Board requested that Mr. Shiver attempt to 99 lower the amount charged by Reflections, if possible, and approved paying the 100 invoice. 101

102 On a motion by Mr. Marvin, seconded by Mr. Walker, with all in favor, the Board approved additional power washing work in a cost not to exceed amount of $1,350.00 for River Glen Community Development District.

103 Mr. Shiver also updated the Board regarding a shaft seal issue and that he had 104 been having difficulty getting Cornerstone to respond after their proposal for the 105 pool deck drain was received. He noted that they had finally made contact but they 106 are requesting a fifty percent deposit. 107 108 On a motion by Mr. Marvin, seconded by Mr. Moore, with all in favor, the Board approved Cornerstone fifty percent deposit upon execution of a work authorization or formal agreement with for River Glen Community Development District.

109 Mr. Shiver also noted that the District Office had received request for new fitness 110 equipment and that he would work with the District Manager on this as part of the 111 proposed budget for Fiscal Year 2020-2021. 112 113 F. District Manager 114 1.) Update on Aquatic Systems and SOLitude Acquisition 115 2.) SOLitude Pond Report, February 4, 2020 116 Ms. Gallagher updated the Board that the acquisition between 117 Aquatic Systems and SOLitude has been completed and they will be seeing 118 invoices in the name of SOLitude for pond maintenance services. She also updated 119 the Board that she had reached out to Nassau County regarding the tree line cut 120


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backs along Edwards Road, which should be completed by February 21, 2020 121 and they will also continue to monitor the drainage in the swale. 122 123 SIXTH ORDER OF BUSINESS Discussion Regarding Landscape 124

Maintenance 125 126 Ms. Gallagher noted that she had received a request to add this discussion item on the agenda. 127 Ms. Copeland added that she is requesting that proposals be obtained for budget purposes only 128 for Fiscal Year 2020-2021. Discussions ensued. 129 The Board directed staff to work with BrightView on the proposed budget and include an amount 130 for a modified scope of increased services and wait to request proposals until later in the fiscal 131 year and include BrightView with this request. 132 133 134 SEVENTH ORDER OF BUSINESS Discussion Regarding Regular Meeting 135

Schedule 136 137 Ms. Gallagher noted again that this was a requested item for the agenda. The Chairman shared 138 his concerns regarding the limited number of meetings and the time between them for information 139 regarding the DR Horton purchase and landscape questions by the Board to be discussed. 140 Ms. Gallagher did note that the budget was based on the current meeting schedule. 141 142 On a motion by Mr. Marvin, seconded by Mr. Moore, with all in favor, the Board approved amending the schedule to include meetings each month at 1:30 p.m., with the exception of May 21, 2020 and August 20, 2020, at which the meetings will convene at 3:30 p.m. for River Glen Community Development District.

143 EIGHTH ORDER OF BUSINESS Public Hearing on Adopting Amended Rules 144

of Procedure 145 146 1.) Consideration of Resolution 2020-03, Adopting Amended Rules of Procedure 147 148 On a motion by Mr. Marvin, seconded by Mr. Moore, with all in favor, the Board opened the Public Hearing on Adopting Rules of Procedure for River Glen Community Development District.

149 Ms. Warren reviewed that the proposed changes are in response to current changes in 150 legislature. 151 152 There were no public comments. 153 154


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On a motion by Mr. Marvin, seconded by Mr. Moore, with all in favor, the Board closed the Public Hearing on Adopting Rules of Procedure for River Glen Community Development District.

155 156 On a motion by Mr. Marvin, seconded by Mr. Moore, with all in favor, the Board adopted Resolution 2020-03 and the Revised Rules of Procedure for River Glen Community Development District.

157 NINTH ORDER OF BUSINESS Consideration of Resolution 2020-04, 158

Conducting the General Election 159 160 On a motion by Mr. Marvin, seconded by Mr. Moore, with all in favor, the Board adopted Resolution 2020-04, Conducting the General Election for River Glen Community Development District.

161 TENTH ORDER OF BUSINESS Consideration of LLS Tax Solutions Inc., 162

Arbitrage Services Proposal 163 164 On a motion by Mr. Moore, seconded by Ms. Davis, with all in favor, the Board approved LLS Tax Solutions Inc. proposal for Arbitrage Services in the annual amount of $500.00 per year, for a three-year term, for River Glen Community Development District.

165 ELEVENTH ORDER OF BUSINESS Supervisor Requests and Audience 166 Comments 167 168 Mr. Marvin had questions regarding the need for a reserve study. The Board agreed to table this 169 until next Fiscal Year 170 171 There was a question if DR Horton would be coming back to a meeting. Ms. Warren encouraged 172 the Board to forward any questions to her. 173 174 An audience member had questions about sidewalks 175 . 176 An audience member had comments regarding parking issues. 177 178 TWELFTH ORDER OF BUSINESS Adjournment 179 180

On a motion by Mr. Marvin, seconded by Mr. Moore, with all in favor, the Board adjourned the meeting at 3:08 p.m. for River Glen Community Development District.

181 182


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183 184 185 186 187 188 189 190 191 192 193 194 195 196 ____________ ________ 197 Secretary/Assistant Secretary Chairman/Vice Chairman 198


DISTRICT OFFICE · 2806 N. FIFTH STREET · UNIT 403 · ST. AUGUSTINE, FL 32084

Operation and Maintenance ExpendituresFebruary 2020

Presented For Board Approval

Approval of Expenditures:

__________________________________

______Chairperson

______Vice Chairperson

______Assistant Secretary

Attached please find the check register listing the Operation andMaintenance expenditures paid from February 1, 2020 through February29, 2020. This does not include expenditures previously approved by theBoard.

The total items being presented: $22,773.87

River Glen Community Development DistrictPaid Operation & Maintenance Expenditures

February 1, 2020 Through February 29, 2020

Vendor Name Check Number Invoice Number Invoice Description Invoice Amount

American Electrical Contracting, 003578 W33413 Electrical Repairs at Entry 01/20 $ 253.00 Inc.BrightView Landscape Services, 003584 6681201 Landscape Maintenance 02/20 $ 5,033.00 Inc.Charles G. Moore 003593 CM022020 Board of Supervisors Meeting $ 200.00

02/20/20Comcast 003572 8495 74 401 Clubhouse TV/Phone/Internet $ 243.05

0038261 02/20 02/20Douglas J. Walker 003594 DW022020 Board of Supervisors Meeting $ 200.00

02/20/20First Coast CMS, LLC 003579 4872 Reimbursement For Purchases $ 457.46

01/20First Coast CMS, LLC 003585 4893 Monthly Services 02/20 $ 3,875.92

Fitness Pro 003591 21853 Service Request For Fitness $ 200.00 Equipment Repairs 02/20

Florida Department of Revenue 003580 65-8016514515-1 Sales And Use Tax 01/20 $ 5.23 01/20

Florida Power & Light Company 003581 FPL Summary Electric Summary 01/20 $ 1,801.11 01/20

Glenn Marvin 003592 GM022020 Board of Supervisors Meeting $ 200.00 02/20/20

Gretchen Copeland 003590 GC022020 Board of Supervisors Meeting $ 200.00 02/20/20

Hopping Green & Sams 003586 112620 Legal Services General Counsel $ 371.00 12/19

Innersync 003582 17832 ADA Website Compliance $ 384.38 10/01/19-12/31/19

Innersync 003573 18220 ADA Website Compliance $ 384.38 01/01/20-03/31/20


February 1, 2020 Through February 29, 2020


JEA 003574 Acct#4780546006 Acct#4780546006 01/20 $ 413.12 01/20

News Leader 003587 553875 Acct #30283 Legal Advertising $ 209.63 02/20

Poolsure 003588 131295590897 Monthly Pool Chemicals 02/20 $ 910.00

Reflections Window and 003583 200082 Pressure Washing 02/20 $ 1,350.00 Pressure WashingRizzetta & Company, Inc. 003576 INV0000046557 District Management Services $ 5,539.59

02/20Rizzetta Technology Services, 003577 INV0000005524 Website & Email Hosting Services $ 100.00 LLC 02/20SOLitude Lake Management 003589 PI-A00357518 Lake & Pond Management 02/20 $ 443.00

Report Total $ 22,773.87



Operation and Maintenance ExpendituresMarch 2020



__________________________________

______Chairperson



Attached please find the check register listing the Operation andMaintenance expenditures paid from March 1, 2020 through March 31,2020. This does not include expenditures previously approved by theBoard.



March 1, 2020 Through March 31, 2020


BrightView Landscape Services, 003607 6721572 Landscape Maintenance 03/20 $ 5,033.00 Inc.Comcast 003595 8495 74 401 Clubhouse TV/Phone/Internet $ 243.05

0038261 03/20 03/20Cornerstone Solution Home and 003596 022820 Deposit on pool deck drain 02/20 $ 2,495.00 Business Improvement, LLCFirst Coast CMS, LLC 003608 4931 Monthly Services 03/20 $ 3,875.92

First Coast CMS, LLC 003602 4972 Reimbursement For Purchases $ 975.16 03/19



Grau & Associates 003604 19255 Audit FYE 09/30/2019 $ 2,000.00

Hopping Green & Sams 003605 113170 Legal Services General Counsel $ 1,139.50 01/20

JEA 003606 Acct#4780546006 Acct#4780546006 02/20 $ 461.54 02/20


Republic Services 003598 0687-001038105 Amenity Waste Disposal 03/20 $ 66.36

Republic Services 003611 0687-001045198 Amenity Waste Disposal 04/20 $ 65.78

Rizzetta & Company, Inc. 003599 INV0000047413 District Management Services $ 5,539.59 03/20

Rizzetta Technology Services, 003600 INV0000005624 Website & Email Hosting Services $ 100.00 LLC 03/20


March 1, 2020 Through March 31, 2020


SOLitude Lake Management 003610 PI-A00371906 Lake & Pond Management 03/20 $ 443.00

Tylex Enterprises, LLC , dba 003601 6040 Surveillance Camera Services $ 300.00 WebWatchDogs 02/20




Operation and Maintenance ExpendituresApril 2020




__________________________________

______Chairperson



Attached please find the check register listing the Operation andMaintenance expenditures paid from April 1, 2020 through April 30, 2020.This does not include expenditures previously approved by the Board.


April 1, 2020 Through April 30, 2020


BrightView Landscape Services, 003625 6759837 Landscape Maintenance 04/20 $ 5,033.00 Inc.BrightView Landscape Services, 003625 6778746 Irrigation Repair 03/20 $ 278.00 Inc.Comcast 003612 8495 74 401 Clubhouse/TV/Phone/Internet $ 243.05

0038261 04/20 04/20Cornerstone Solution Home and 003619 100445 50% Quote for Drain $ 2,495.00 Business Improvement, LLC Replacement 04/20DL Holland Contracting, LLC 003616 7111 Road Stripping 03/20 $ 3,875.54

First Coast CMS, LLC 003626 5009 Monthly Services 04/20 $ 3,875.92

First Coast CMS, LLC 003620 5040 Reimbursement For Purchases $ 1,329.23 04/20



Grau & Associates 003622 19425 Audit FYE 09/30/2019 $ 1,500.00

Hopping Green & Sams 003613 113880 Legal Services General Counsel $ 2,575.60 02/20

Innersync 003617 18384 Quarterly ADA Website Services $ 384.38 04/20

JEA 003623 Acct#4780546006 Acct#4780546006 03/20 $ 709.12 03/20

News Leader 003624 566802 Acct #30283 Legal Advertising $ 171.89 03/20


River Glen Community Development DistrictPaid peration aintenance xpenditures

April 1, 2020 Through April 30, 2020

O & M E


Reflections Window and 003618 200063 Pressure Washing 01/20 $ 6,865.00 Pressure WashingRepublic Services 003629 0687-001052094 Amenity Waste Disposal 05/20 $ 69.73

Rizzetta & Company, Inc. 003614 INV0000048167 District Management Services $ 5,539.59 04/20

Rizzetta Technology Services, 003615 INV0000005724 Website & Email Hosting Services $ 100.00 LLC 04/20SOLitude Lake Management 003630 PI-A00388307 Lake & Pond Management 04/20 $ 445.00



NASSAU COUNTY, FLORIDA FINANCIAL REPORT

FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019

RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT NASSAU COUNTY, FLORIDA

TABLE OF CONTENTS Page

INDEPENDENT AUDITOR’S REPORT 1-2 MANAGEMENT’S DISCUSSION AND ANALYSIS 3-6 BASIC FINANCIAL STATEMENTS Government-Wide Financial Statements:

Statement of Net Position 7 Statement of Activities 8 Fund Financial Statements:

Balance Sheet – Governmental Funds 9 Reconciliation of the Balance Sheet – Governmental Funds to the Statement of Net Position 10 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds 11 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities

12

Notes to the Financial Statements 13-21 REQUIRED SUPPLEMENTARY INFORMATION

Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – General Fund

22

Notes to Required Supplementary Information 23

INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL

REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 24-25

INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS

OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10) OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

26 MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA 27-29

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

INDEPENDENT AUDITOR’S REPORT

To the Board of Supervisors River Glen Community Development District Nassau County, Florida Report on the Financial Statements

We have audited the accompanying financial statements of the governmental activities and each major fund of River Glen Community Development District, Nassau County, Florida (“District”) as of and for the fiscal year ended September 30, 2019, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation 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 policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Basis for Adverse Opinion on Special Purpose Entity Fund and Governmental Activities

As discussed in Note 9 to the financial statements, management has not recorded the land held for sale by the special purpose entity (“SPE”), a blended component unit of the District. Accounting principles generally accepted in the United States of America require that land held for resale be recorded as an asset in the fund financial statements, thus increasing the assets and net position of the governmental activities. The amount by which this departure would affect the assets, fund balance, and net position of the special purpose entity fund and the governmental activities has not been determined.

2

Adverse Opinions

In our opinion, because of the significance of the matter described in the “Basis for Adverse Opinion on Special Purpose Entity Fund and Governmental Activities” paragraph, the financial statements referred to above do not present fairly the financial position of the special purpose entity fund and the governmental activities of the District, as of September 30, 2019, or the changes in financial position thereof for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.

Unmodified Opinions

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the general fund, debt service fund, and capital projects fund of the District as of September 30, 2019, and the respective changes in financial position thereof for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.

Emphasis of Matter

As discussed in Note 7 and other notes to the basic financial statements, the District’s financial conditions continue to deteriorate. Due to the Developer’s non-payment of assessments, the District did not have sufficient funds to make certain scheduled debt service payments in prior, current, or subsequent fiscal years and, as a result, the payments were not made. The District’s inability to make its scheduled debt service payments when they are due are considered events of default. Additionally, certain default related expenditures were paid from the trust accounts. As a result of these events, the debt service fund had a deficit fund balance of ($5,334,593) at September 30, 2019. Furthermore, the District and the Trustee, on behalf of the Bondholders, formed a SPE which took title to the Developer’s property through foreclosure. The SPE is funding a portion of the general operations of the District through funds from the Trust estate. Our opinion is not modified with respect to this matter.

Other Matters

Required Supplementary Information

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

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated March 30, 2020, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control over financial reporting and compliance.

March 30, 2020

3

MANAGEMENT’S DISCUSSION AND ANALYSIS Our discussion and analysis of River Glen Community Development District, Nassau County, Florida (“District”) provides a narrative overview of the District’s financial activities for the fiscal year ended September 30, 2019. Please read it in conjunction with the District’s Independent Auditor’s Report, basic financial statements, accompanying notes and supplementary information to the basic financial statements. FINANCIAL HIGHLIGHTS

• The liabilities of the District exceeded its assets at the close of the most recent fiscal year resulting in a net position deficit balance of ($12,118,450).

• The change in the District’s total net position in comparison with the prior fiscal year was ($948,396), an increase in the deficit. The key components of the District’s net position and change in net position are reflected in the table in the government-wide financial analysis section.

• At September 30, 2019, the District’s governmental funds reported combined ending fund balances of ($4,864,669), a decrease of ($861,193) in comparison with the prior fiscal year. The total fund balance is non-spendable for prepaid items and deposits, restricted for capital projects and the special purpose entity (“SPE”), unassigned general fund balance, and the remainder is a deficit fund balance in the debt service fund.

OVERVIEW OF FINANCIAL STATEMENTS This discussion and analysis is intended to serve as the introduction to the District’s basic financial statements. The District’s basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. Government-Wide Financial Statements The government-wide financial statements are designed to provide readers with a broad overview of the District’s finances, in a manner similar to a private-sector business. The statement of net position presents information on all the District’s assets, deferred outflows of resources, liabilities, and deferred inflows of resources with the residual amount being reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating. The statement of activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods. The government-wide financial statements include all governmental activities that are principally supported by special assessment revenues. The District does not have any business-type activities. The governmental activities of the District include the general government (management), maintenance and operations, culture and recreation, and SPE costs. Fund Financial Statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The District has one fund category: the governmental funds.

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

(Restated)2019 2018

Current and other assets 1,167,648$ 1,240,988$ Capital assets, net of depreciation 2,840,734 3,171,638

Total assets 4,008,382 4,412,626 Current liabilities 6,258,948 5,471,095 Long-term liabilities 9,867,884 10,111,585

Total liabilities 16,126,832 15,582,680 Net position

Net investment in capital assets (4,231,301) (4,086,130) Restricted 6,241 3,336 Unrestricted (7,893,390) (7,087,260)

Total net position (12,118,450)$ (11,170,054)$

SEPTEMBER 30, NET POSITION

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GOVERNMENT-WIDE FINANCIAL ANALYSIS (Continued) The District’s net position reflects its investment in capital assets (e.g. land, land improvements, and infrastructure) less any related debt used to acquire those assets that is still outstanding. These assets are used to provide services to residents; consequently, these assets are not available for future spending. Although the District’s investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. The restricted portion of the District’s net position represents resources that are subject to external restrictions on how they may be used. The District’s net position decreased during the most recent fiscal year. The majority of the decrease represents the extent to which the cost of operations and depreciation expense exceeded ongoing program revenues. Key elements of the change in net position are reflected in the following table:

(Restated)2019 2018

Revenues:Program revenues

Charges for services 355,792$ 368,098$ Operating grants and contributions 17,976 9,645 Capital grants and contributions 91 26

General revenuesUnrestricted investment earnings and miscellaneous 3,359 2,364 Total revenues 377,218 380,133

Expenses: General government 101,820 95,573 Maintenance and operations 356,603 495,860 Culture and recreation 240,153 79,581 SPE costs 81,829 85,675 Interest on long-term debt 545,209 545,209

Total expenses 1,325,614 1,301,898

Change in net position (948,396) (921,765)

Net position - beginning (11,170,054) (10,248,289) Net position - ending (12,118,450)$ (11,170,054)$

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

As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year ended September 30, 2019 was $1,325,614. The costs of the District’s activities were partially funded by program revenues. As in the prior fiscal year, program revenues are comprised primarily of assessments. A portion of the District’s operations were also funded by using funds available in the trust accounts. In total, expenses increased minimally from the prior fiscal year. GENERAL BUDGETING HIGHLIGHTS An operating budget was adopted and maintained by the governing board for the District pursuant to the requirements of Florida Statutes. The budget is adopted using the same basis of accounting that is used in preparation of the fund financial statements. The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2019.

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CAPITAL ASSETS AND DEBT ADMINISTRATION Capital Assets At September 30, 2019, the District had $6,594,052 invested in infrastructure improvements, clubhouse, and furniture and equipment for its governmental activities. In the government-wide financial statements, depreciation of $3,753,318 has been taken, which resulted in a net book value of $2,840,734. More detailed information about the District’s capital assets is presented in the notes to the financial statements. Capital Debt At September 30, 2019, the District had $8,320,000 Bonds outstanding for its governmental activities. The District also had a balance on Bondholder advances of $1,570,068 at September 30, 2019. In addition, matured debt service obligations of $6,009,797 are included in Due to Bondholders amount at September 30, 2019. More detailed information about the District’s capital debt is presented in the notes to the financial statements. ECONOMIC FACTORS AND NEXT YEAR’S BUDGET AND OTHER EVENTS As discussed in the notes to the basic financial statements, the District’s financial conditions continue to deteriorate. The District formed an SPE and foreclosed on certain Developer property for which there was a significant delinquent assessment in prior fiscal years. In addition, in the prior, current, and subsequent fiscal years, certain scheduled debt service payments were not made. As a result, the District declared an event of default in accordance with the Series 2006 Bond Indenture which allowed the District to pay certain significant trustee, legal, and other professional fees incurred in association with the default using funds available in the trust accounts. Further, the debt service fund reported a deficit fund balance of ($5,334,593) at September 30, 2019. CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT This financial report is designed to provide our citizens, land owners, customers, investors and creditors with a general overview of the District’s finances and to demonstrate the District’s accountability for the financial resources it manages and the stewardship of the facilities it maintains. If you have questions about this report or need additional financial information, contact the River Glen Community Development District’s Finance Department at 12750 Citrus Park Lane, Suite 115, Tampa, Florida 33625.

FINANCIAL STATEMENTS

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STATEMENT OF NET POSITION SEPTEMBER 30, 2019

ASSETSCash 458,429$ Prepaid items and deposits 22,774 Restricted assets:

Investments 686,445 Capital assets:

Depreciable, net 2,840,734 Total assets 4,008,382

LIABILITIES Accounts payable and accrued expenses 22,520 Accrued interest payable 226,631 Due to Bondholders: Principal 1,660,000 Interest 4,349,797 Non-current liabilities: Due within one year 255,000 Due in more than one year 9,612,884 Total liabilities 16,126,832

NET POSITIONNet investment in capital assets (4,231,301) Restricted for capital projects 6,241 Unrestricted (7,893,390) Total net position (12,118,450)$

Governmental Activities

See notes to the financial statements

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RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT NASSAU COUNTY, FLORIDA STATEMENT OF ACTIVITIES


Functions/Programs ExpensesPrimary government: Governmental activities:

General government 101,820$ 144,045$ 3,000$ -$ 45,225$ Maintenance and operations 356,603 - - 91 (356,512) Culture and recreation 240,153 - - - (240,153) SPE costs 81,829 - - - (81,829) Interest on long-term debt 545,209 211,747 14,976 - (318,486)

Total governmental activities 1,325,614 355,792 17,976 91 (951,755)

General revenues: Miscellaneous revenues 1,393 Unrestricted investment earnings 1,966 Total general revenues 3,359 Change in net position (948,396) Net position - beginning (as restated) (11,170,054) Net position - ending (12,118,450)$

Governmental Activities

Charges for

Services

Operating Grants and

Contributions

Capital Grants and

Contributions

Program Revenues

Net (Expense) Revenue and

Changes in Net Position


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BALANCE SHEET – GOVERNMENTAL FUNDS

SEPTEMBER 30, 2019

GeneralASSETSCash 351,399$ -$ -$ 107,030$ 458,429$ Investments - 680,204 6,241 - 686,445 Due from other funds 18,728 - - - 18,728 Prepaid items and deposits 22,774 - - - 22,774

Total assets 392,901$ 680,204$ 6,241$ 107,030$ 1,186,376$

LIABILITIES AND FUND BALANCESLiabilities:

Accounts payable and accrued expenses 15,818$ 5,000$ -$ 1,702$ 22,520$ Due to other funds - - - 18,728 18,728 Due to Bondholders

Principal - 1,660,000 - - 1,660,000 Interest - 4,349,797 - - 4,349,797

Total liabilities 15,818 6,014,797 - 20,430 6,051,045

Fund balances:Nonspendable:

Prepaid items and deposits 22,774 - - - 22,774 Restricted for:

Capital projects - - 6,241 - 6,241 SPE - - - 86,600 86,600

Unassigned 354,309 (5,334,593) - - (4,980,284) Total fund balances 377,083 (5,334,593) 6,241 86,600 (4,864,669)

Total liabilities and fund balances 392,901$ 680,204$ 6,241$ 107,030$ 1,186,376$

Total Governmental

Funds

Major FundsDebt

ServiceCapital

ProjectsSpecial Purpose


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RECONCILIATION OF THE BALANCE SHEET – GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION

SEPTEMBER 30, 2019

Fund balance - governmental funds (4,864,669)$

Amounts reported for governmental activities in the statement ofnet position are different because:

Capital assets used in governmental activities are not financialresources and, therefore, are not reported as assets in thegovernmental funds. The statement of net position includes thosecapital assets, net of any accumulated depreciation, in the netposition of the government as a whole.

Cost of capital assets 6,594,052 Accumulated depreciation (3,753,318) 2,840,734

Liabilities not due and payable from current available resources arenot reported as liabilities in the governmental fund statements. Allliabilities, both current and long-term, are reported in thegovernment-wide financial statements.

Accrued interest payable (226,631) Bondholder advances (1,570,068) Bonds payable (8,297,816) (10,094,515)

Net position of governmental activities (12,118,450)$


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STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES –

GOVERNMENTAL FUNDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019

GeneralREVENUESAssessments 144,045$ 211,747$ -$ -$ 355,792$ Interest income 1,966 14,976 91 - 17,033 Developer contributions 3,000 - - - 3,000 Miscellaneous revenue 1,393 - - - 1,393

Total revenues 150,404 226,723 91 - 377,218

EXPENDITURESCurrent:

General government 101,820 - - 101,820Maintenance and operations 144,398 - - - 144,398Culture and recreation 121,454 - - - 121,454SPE costs - 60,000 - 21,829 81,829

Debt service:Principal - 245,000 - - 245,000Interest - 543,910 - - 543,910Total expenditures 367,672 848,910 - 21,829 1,238,411

Excess (deficiency) of revenues over (under) expenditures (217,268) (622,187) 91 (21,829) (861,193)

OTHER FINANCING SOURCES (USES)Transfer in (out) 249,711 (273,672) 2,814 21,147 -

Total other financing sources (uses) 249,711 (273,672) 2,814 21,147 -

Net change in fund balances 32,443 (895,859) 2,905 (682) (861,193)

Fund balances - beginning (as restated) 344,640 (4,438,734) 3,336 87,282 (4,003,476)

Fund balances - ending 377,083$ (5,334,593)$ 6,241$ 86,600$ (4,864,669)$

Total Governmental

Funds

Major FundsDebt

ServiceCapital

ProjectsSpecial Purpose


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


Net change in fund balances - total governmental funds (861,193)$

Amounts reported for governmental activities in the statement ofactivities are different because:

Repayment of long-term liabilities are reported as expenditures inthe governmental fund financial statements, but such repaymentsreduce liabilities in the statement of net position and are eliminatedin the statement of activities. 245,000

Depreciation of capital assets is not recognized in the governmentalfund financial statements, but is reported as an expense in thestatement of activities. (330,904)

Amortization of bond discount is not recognized in the governmentalfund financial statements, but is reported as an expense in thestatement of activities. (1,299)

Change in net position of governmental activities (948,396)$


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NOTES TO THE FINANCIAL STATEMENTS NOTE 1 – NATURE OF ORGANIZATION AND REPORTING ENTITY River Glen Community Development District ("District") was established on December 20, 2005 by Ordinance No. 2005-80 of Nassau County, Florida, pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes. The Act provides, among other things, the power to manage basic services for community development, power to borrow money and issue bonds, and to levy and assess non-ad valorem assessments for the financing and delivery of capital infrastructure. The District was established for the purposes of financing and managing the acquisition, construction, maintenance and operation of a portion of the infrastructure necessary for community development within the District. The District is governed by the Board of Supervisors ("the Board"), which is composed of five members. The Supervisors are elected on an at large basis by the landowners of the District. The Board of Supervisors of the District exercises all powers granted to the District pursuant to Chapter 190, Florida Statutes. The Board has the responsibility for: 1. Allocating and levying assessments. 2. Approving budgets. 3. Exercising control over facilities and properties. 4. Controlling the use of funds generated by the District. 5. Approving the hiring and firing of key personnel. 6. Financing improvements. The financial statements were prepared in accordance with Governmental Accounting Standards Board (“GASB”) Statements. Under the provisions of those standards, the financial reporting entity consists of the primary government, organizations for which the District 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. Blended component units, although legally separate entities, are, in substance, part of the government’s operations. Blended Component Unit The SPE owns, manages, maintains, and will sell and dispose of property for the benefit of the Bondholders. The SPE is reported as a special revenue fund. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Government-Wide and Fund Financial Statements The basic financial statements include both government-wide and fund financial statements. The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements. The statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to customers who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment; operating-type special assessments for maintenance and debt service are treated as charges for services and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Other items not included among program revenues are reported instead as general revenues.

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NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Measurement Focus, Basis of Accounting and Financial Statement Presentation The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Assessments are recognized as revenues in the year for which they are levied. Grants and similar items are to be recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collected within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures are recorded only when payment is due. Assessments Assessments are non-ad valorem assessments imposed on assessable lands located within the District. Assessments may be levied on property to pay for the operations and maintenance of the District. The fiscal year for which annual assessments may be levied begins on October 1 with discounts available for payments through February 28 and become delinquent on April 1. For debt service assessments, amounts collected as advance payments are used to prepay a portion of the Bonds outstanding. Otherwise, assessments are collected annually to provide funds for the debt service on the portion of the Bonds which are not paid with prepaid assessments. Assessments and interest associated with the current fiscal period are considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. The portion of assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. The District reports the following major governmental funds: General Fund The general fund is the general operating fund of the District. It is used to account for all financial resources except those required to be accounted for in another fund. Debt Service Fund The debt service fund is used to account for the accumulation of resources for the annual payment of principal and interest on long-term debt. Capital Projects Fund This fund accounts for the financial resources to be used for the acquisition or construction of major infrastructure within the District. Special Purpose Entity Fund The special purpose entity fund is a special revenue fund that accounts for the activities of the SPE, a blended component unit of the government. The SPE owns, manages, maintains, and will sell and dispose of property for the benefit of the Bondholders. As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements. When both restricted and unrestricted resources are available for use, it is the government’s policy to use restricted resources first for qualifying expenditures, then unrestricted resources as they are needed.

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NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Assets, Liabilities and Net Position or Equity Restricted Assets These assets represent cash and investments set aside pursuant to Bond covenants or other contractual restrictions. Deposits and Investments The District’s cash on hand and demand deposits are considered to be cash and cash equivalents. The District has elected to proceed under the Alternative Investment Guidelines as set forth in Section 218.415 (17) Florida Statutes. The District may invest any surplus public funds in the following:

a) The Local Government Surplus Trust Funds, or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act;

b) Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency;

c) Interest bearing time deposits or savings accounts in qualified public depositories; d) Direct obligations of the U.S. Treasury.

Securities listed in paragraph c and d shall be invested to provide sufficient liquidity to pay obligations as they come due. In addition, surplus funds may be deposited into certificates of deposit which are insured and any unspent Bond proceeds are required to be held in investments as specified in the Bond Indenture. The District records all interest revenue related to investment activities in the respective funds. Investments are measured at amortized cost or reported at fair value as required by generally accepted accounting principles. Prepaid Items Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements. Capital Assets Capital assets which include property, plant and equipment, and infrastructure assets (e.g., roads, sidewalks and similar items) are reported in the governmental activities columns in the government-wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than $5,000 (amount not rounded) and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the date of donation. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed. Property, plant and equipment of the District are depreciated using the straight-line method over the following estimated useful lives:

Assets YearsRoadw ays and sidew alks 20Stormw ater management system 25Landscape and signage 15Amenity cetner/clubhouse complex 20Furniture and equipment 5

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

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NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Assets, Liabilities and Net Position or Equity (Continued) Unearned Revenue Governmental funds report unearned revenue in connection with resources that have been received, but not yet earned. Long-Term Obligations In the government-wide financial statements long-term debt and other long-term obligations are reported as liabilities in the statement of net position. Bond premiums and discounts are deferred and amortized ratably over the life of the Bonds. Bonds payable are reported net of applicable premiums or discounts. Bond issuance costs are expensed when incurred. In the fund financial statements, governmental fund types recognize premiums and discounts, as well as issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures. Deferred Outflows/Inflows of Resources In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then. In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. Fund Equity/Net Position In the fund financial statements, governmental funds report non spendable and restricted fund balance for amounts that are not available for appropriation or are legally restricted by outside parties for use for a specific purpose. Assignments of fund balance represent tentative management plans that are subject to change. The District can establish limitations on the use of fund balance as follows:

Committed fund balance – Amounts that can be used only for the specific purposes determined by a formal action (resolution) of the Board of Supervisors. Commitments may be changed or lifted only by the Board of Supervisors taking the same formal action (resolution) that imposed the constraint originally. Resources accumulated pursuant to stabilization arrangements sometimes are reported in this category. Assigned fund balance – Includes spendable fund balance amounts established by the Board of Supervisors that are intended to be used for specific purposes that are neither considered restricted nor committed. The Board may also assign fund balance as it does when appropriating fund balance to cover differences in estimated revenue and appropriations in the subsequent year’s appropriated budget. Assignments are generally temporary and normally the same formal action need not be taken to remove the assignment.

The District first uses committed fund balance, followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used. Net position is the difference between assets and deferred outflows of resources less liabilities and deferred inflows of resources. Net position in the government-wide financial statements are categorized as net investment in capital assets, restricted or unrestricted. Net investment in capital assets represents net position related to infrastructure and property, plant and equipment. Restricted net position represents the assets restricted by the District’s Bond covenants or other contractual restrictions. Unrestricted net position consists of the net position not meeting the definition of either of the other two components.

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NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Other Disclosures Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates. NOTE 3 – BUDGETARY INFORMATION The District is required to establish a budgetary system and an approved Annual Budget. Annual Budgets are adopted on a basis consistent with generally accepted accounting principles for the general fund. All annual appropriations lapse at fiscal year-end. The District follows these procedures in establishing the budgetary data reflected in the financial statements. a) Each year, the District Manager submits to the District Board a proposed operating budget for the fiscal

year commencing the following October 1. b) A public hearing is conducted to obtain comments. c) Prior to October 1, the budget is legally adopted by the District Board. d) All budget changes must be approved by the District Board. e) The budgets are adopted on a basis consistent with generally accepted accounting principles. f) Unused appropriation for annually budgeted funds lapse at the end of the year. NOTE 4 – DEPOSITS AND INVESTMENTS Deposits The District’s cash balances were entirely covered by federal depository insurance or by a collateral pool pledged to the State Treasurer. Florida Statutes Chapter 280, "Florida Security for Public Deposits Act", requires all qualified depositories to deposit with the Treasurer or another banking institution eligible collateral equal to various percentages of the average daily balance for each month of all public deposits in excess of any applicable deposit insurance held. The percentage of eligible collateral (generally, U.S. Governmental and agency securities, state or local government debt, or corporate Bonds) to public deposits is dependent upon the depository's financial history and its compliance with Chapter 280. In the event of a failure of a qualified public depository, the remaining public depositories would be responsible for covering any resulting losses. Investments The District’s investments were held as follows at September 30, 2019:

Amortized Cost Credit Risk MaturitiesUS Bank Money Market Account - Managed 686,445$ Not available Not available

Total Investments 686,445$

Credit risk – For investments, credit risk is generally the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Investment ratings by investment type are included in the preceding summary of investments. Concentration risk – The District places no limit on the amount the District may invest in any one issuer. Interest rate risk – The District does not have a formal policy that limits investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates. However, the Bond Indentures limit the type of investments held using unspent proceeds.

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NOTE 4 – DEPOSITS AND INVESTMENTS (Continued) Investments (Continued) Fair Value Measurement – When applicable, the District measures and records its investments using fair value measurement guidelines established in accordance with GASB Statements. The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques. These guidelines recognize a three-tiered fair value hierarchy, in order of highest priority, as follows:

• Level 1: Investments whose values are based on unadjusted quoted prices for identical investments in active markets that the District has the ability to access;

• Level 2: Investments whose inputs - other than quoted market prices - are observable either directly or indirectly; and,

• Level 3: Investments whose inputs are unobservable. The fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the entire fair value measurement. Valuation techniques used should maximize the use of observable inputs and minimize the use of unobservable inputs. Money market investments that have a maturity at the time of purchase of one year or less and are held by governments other than external investment pools should be measured at amortized cost. Accordingly, the District’s investments have been reported at amortized cost above. NOTE 5 – INTERFUND TRANSFERS AND RECEIVABLES/ PAYABLES Interfund transfers for the fiscal year ended September 30, 2019 were as follows:

Fund Transfer in Transfer outGeneral 249,711$ -$ Debt service - 273,672 Capital projects 2,814 - Special purpose entity 270,858 249,711 Total 523,383$ 523,383$

Transfers are used to move revenues from the fund where collection occurs to the fund where funds have been reallocated for use. In the case of the District, transfers from the debt service fund to the special purpose entity fund were to pay some of the SPE costs and were also transferred to the general fund to fund operations in accordance with the Tri-Party Agreement. Transfers from the debt service fund to the capital projects fund were made in accordance with the Bond Indenture. Interfund receivables and payables at September 30, 2019 were as follows:

Fund Receivable PayableGeneral 18,728$ -$ Special purpose entity - 18,728 Total 18,728$ 18,728$

The outstanding balances between funds result primarily from the time lag between the dates that transactions are recorded in the accounting system and payments between funds are made. In the case of the District, the balances between the the general fund and the special purpose entity fund relate to funds designated to be used to pay operating and maintenance expenditures that had not yet been transferred at September 30, 2019.

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NOTE 6 – CAPITAL ASSETS Capital asset activity for the fiscal year ended September 30, 2019 was as follows:

Additions DisposalsGovernmental activitiesCapital assets, being depreciated

Roadw ays and sidew alks 2,782,575$ -$ -$ 2,782,575$ Stormw ater management system 922,396 - - 922,396 Landscape and signage 542,700 - - 542,700 Amenity cetner/clubhouse complex 2,294,995 - - 2,294,995 Furniture and equipment 51,386 - - 51,386

Total capital assets, being depreciated 6,594,052 - - 6,594,052

Less accumulated depreciation for:Roadw ays and sidew alks (1,437,533) (139,129) - (1,576,662) Stormw ater management system (381,223) (36,896) - (418,119) Landscape and signage (373,447) (36,180) - (409,627) Amenity cetner/clubhouse complex (1,183,777) (114,750) - (1,298,527) Furniture and equipment (46,434) (3,949) - (50,383)

Total accumulated depreciation (3,422,414) (330,904) - (3,753,318)

Total capital assets, being depreciated, net 3,171,638 (330,904) - 2,840,734

Governmental activities capital assets, net 3,171,638$ (330,904)$ -$ 2,840,734$

Beginning Balance

Ending Balance

The infrastructure intended to serve the District has been estimated at a total cost of approximately $16,690,000. The infrastructure will include roadways, stormwater management facilities, water and wastewater facilities and entry landscaping. A portion of the project was funded with proceeds of the Bonds and the remainder of the project, as well as any additional infrastructure, will be funded at a later date. The infrastructure improvements for phase 1 were completed and certain assets within the phase have been conveyed. The remainder of the project has been placed on hold. At September 30, 2019, there is a balance of $6,241 in the deferred cost account. The District has not yet determined if a liability exists for deferred obligations. Depreciation expense was charged to function/programs as follows:

Maintenance and operations 212,205$ Culture and recreation 118,699 Total depreciation expense 330,904$

NOTE 7 – LONG-TERM LIABILITIES Series 2006 On November 1, 2006, the District issued $10,390,000 of Capital Improvement Revenue Bonds, Series 2006 due on May 1, 2038 with a fixed interest rate of 5.45%. The Bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District. Interest is to be paid semiannually on each May 1 and November 1. Principal on the Bonds is to be paid serially commencing May 1, 2009 through May 1, 2038. The Bonds are subject to redemption at the option of the District prior to their maturity. The Bonds are also subject to extraordinary mandatory redemption prior to their selected maturity in the manner determined by the Bond Registrar if certain events occur as outlined in the Bond Indenture.

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NOTE 7 – LONG-TERM LIABILITIES (Continued) The Bond Indenture requires that the District maintain adequate funds in a reserve account to meet the debt service reserve requirement as defined in the Indenture. In addition, the Bond Indenture has certain restrictions and requirements relating principally to the use of proceeds to pay for the infrastructure improvements and the procedures to be followed by the District on assessments to property owners. The District agrees to levy special assessments in annual amounts adequate to provide payment of debt service and to meet the reserve requirements. During prior fiscal years, the Developer failed to make payment on the special assessments which ultimately secure the Bonds. As a result of the delinquent assessments, the District did not have sufficient funds to make certain scheduled debt service payments in current and prior fiscal years, and as a result, the payments were not made. As a result, the Bonds are in default. The past due amounts have been reported on the financial statements as due to Bondholders and reflects $1,660,000 due for principal and $4,349,797 due for interest. The nonpayment of its debt service payments by the District are considered event of defaults. Additionally, the funds needed to pay certain default related expenditures were paid from the debt service reserve account. The debt service reserve account was also used to fund certain debt service payments in prior fiscal years. As a result of these payments, there is a deficit of approximately $328,000 in the Series 2006 reserve account at September 30, 2019. See Note 13 for additional information subsequent to fiscal year end. Bondholder Advances As discussed above, there were significant outstanding debt service assessments on Developer property. As a result, the District foreclosed on the related property and formed a SPE to hold, manage, and dispose of the property. The District entered into a Tri-Party Agreement, (see Note 9), under which the SPE, through available funds in the trust accounts and/or Bondholder advances would fund its portion of the general operations of the District. Total amount advanced by Bondholders at September 30, 2019 was $1,570,068. Changes in long-term liability activity for the fiscal year ended September 30, 2019 were as follows:

Additions ReductionsGovernmental activitiesBonds payable:

Series 2007 8,565,000$ -$ (245,000)$ 8,320,000$ 255,000$ Less issue discount (23,483) - 1,299 (22,184) - Bondholder advances 1,570,068 - - 1,570,068 - Total 10,111,585$ -$ (243,701)$ 9,867,884$ 255,000$

Beginning Balance

Ending Balance

Due Within One Year

At September 30, 2019, the scheduled debt service requirements on the long-term debt were as follows:

Principal Interest Total2020 255,000$ 543,910$ 798,910$ 2021 270,000 530,013 800,013 2022 285,000 515,298 800,298 2023 300,000 499,765 799,765 2024 320,000 483,415 803,415

2025-2029 1,880,000 2,136,400 4,016,400 2030-2034 2,480,000 1,561,425 4,041,425 2035-2038 2,530,000 716,130 3,246,130

Total 8,320,000$ 6,986,356$ 15,306,356$

Governmental ActivitiesYear ending September 30:

NOTE 8 – DEFICIT FUND EQUITY The debt service fund had a deficit fund balance of ($5,334,593) at September 30, 2019. It is unclear how the deficit will be covered in the near future as the SPE has not sold any of the property held for sale to-date.

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NOTE 9 – TRI-PARTY AGREEMENT AND SPECIAL PURPOSE ENTITY As discussed in Note 7, as a result of non-collection of assessments from the Developer in prior fiscal years, the District did not make certain debt service payments when due, which constitutes an event of default under the applicable trust indenture. In April 2009, an event of default was declared. The District initiated a foreclosure suit and was granted final judgment. The property was sold at a foreclosure sale in June 2010 and the lien securing the debt service assessments on the property was released. As a result, the property is the only remaining asset as an available source for the repayment of the extinguished liens. The Trustee, on behalf of the Bondholder, created or caused to be created a SPE to own, manage, and dispose of the property subject to delinquent Series 2006 assessments. In June 2010, the District entered a Tri-Party Agreement with the Trustee and the SPE. The parties acknowledged that the funds to operate the SPE would be provided by the Trustee and the terms of the agreement. The District agreed not to impose annual maintenance assessments on the property as long as funding is provided by the Trustee to fund the portion of the District’s annual operating budget assigned to the property. The Trustee agrees that it will use available funds on deposit in the trust estate, including proceeds from sale of all or a portion of the property, to pay quarterly operating funding requests. The District remains liable with respect to the provisions of the trust indenture regarding principal and interest on the Bonds. In order to secure the payment and performance of the District’s obligations under the Series 2006 Trust Indenture, the SPE delivered a mortgage securing such obligations. See Note 13 for additional information subsequent to fiscal year end. The property held by the SPE should be recorded in the financial statements as land held for resale. However, no appraisal was performed on the property so the market value cannot be determined. Consequently, no amount was recorded in the financial statements for this asset. NOTE 10 – RELATED PARTY TRANSACTIONS AND CONCENTRATION The District’s activity is dependent upon the continued involvement of a significant landowner, the loss of which could have a material adverse effect on the District’s operations. During the current fiscal year, $60,000 was paid to Lerner Real Estate Advisors for monthly management fees and expenses for services related to the SPE. The payments were made using funds from the trust accounts. During the fiscal year ended September 30, 2019, one of the five Board members was affiliated with Lerner Real Estate Advisors. NOTE 11 – MANAGEMENT COMPANY The District has contracted with a management company to perform management services, which include financial and accounting services. Certain employees of the management company also serve as officers (Board appointed non-voting positions) of the District. Under the agreement, the District compensates the management company for management, accounting, financial reporting, and other administrative costs. NOTE 12 – RISK MANAGEMENT The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters. The District has obtained commercial insurance from independent third parties to mitigate the costs of these risks; coverage may not extend to all situations. There were no settled claims during the past three years. NOTE 13 – SUBSEQUENT EVENTS Subsequent to fiscal year end, certain scheduled debt service payments were not made. The District’s inability to make its scheduled debt service payments when due is considered an event of default. Also, the Series 2006 debt service reserve account has not been replenished; therefore, the District is not in compliance with the requirements of the Bond Indenture.

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SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND


Original & FinalREVENUESDeveloper Contribution -$ 3,000$ 3,000$ Assessments 142,004 144,045 2,041 Interest income - 1,966 1,966 Miscellaneous income - 1,393 1,393

Total revenues 142,004 150,404 8,400

EXPENDITURESCurrent:

General government 109,959 101,820 8,139 Maintenance and operations 167,581 144,398 23,183 Culture and recreation 114,175 121,454 (7,279)

Total expenditures 391,715 367,672 24,043

Excess (deficiency) of revenues over (under) expenditures (249,711) (217,268) 32,443

OTHER FINANCING SOURCESTransfer in 249,711 249,711

Total other financing sources 249,711 249,711 -

Net change in fund balances -$ 32,443 32,443$

Fund balance - beginning 344,640

Fund balance - ending 377,083$

Budgeted Amounts

Variance with Final Budget -

Positive (Negative)

Actual Amounts

See notes to required supplementary information

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NOTES TO REQUIRED SUPPLEMENTARY INFORMATION The District is required to establish a budgetary system and an approved Annual Budget for the general fund. The District’s budgeting process is based on estimates of cash receipts and cash expenditures which are approved by the Board. The budget approximates a basis consistent with accounting principles generally accepted in the United States of America (generally accepted accounting principles). The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2019.


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INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT

OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

To the Board of Supervisors River Glen Community Development District Nassau County, Florida We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities and each major fund of River Glen Community Development District, Nassau County, Florida (“District”) as of and for the fiscal year ended September 30, 2019, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our opinion thereon dated March 30, 2020, which includes explanatory paragraphs regarding the adverse opinion on the special purpose entity fund and the governmental activities as to the departure from generally accepted accounting principles and an emphasis of matter paragraph. Internal Control Over Financial Reporting

In planning and performing our audit of the financial statements, we considered the District’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies. However, as discussed in the accompanying report to management dated March 30, 2020, we consider deficiency 2019-01 to be a material weakness in internal control over financial reporting.

Compliance and Other Matters As part of obtaining reasonable assurance about whether the District’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

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We noted certain matters involving the internal control over financial reporting and compliance that we have reported to management of the District in a separate letter dated March 30, 2020.

The District's responses to the findings identified in our audit are described in the accompanying Management Letter. We did not audit the District's responses and, accordingly, we express no opinion on them.

Purpose of this Report

The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose. March 30, 2020


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

To the Board of Supervisors River Glen Community Development District Nassau County, Florida We have examined River Glen Community Development District, Nassau County, Florida’s (“District”) compliance with the requirements of Section 218.415, Florida Statutes, in accordance with Rule 10.556(10) of the Auditor General of the State of Florida during the fiscal year ended September 30, 2019. Management is responsible for the District’s compliance with those requirements. Our responsibility is to express an opinion on the District’s compliance based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the District complied, in all material respects, with the specified requirements referenced in Section 218.415, Florida Statutes. An examination involves performing procedures to obtain evidence about whether the District complied with the specified requirements. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material noncompliance, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the District’s compliance with specified requirements. In our opinion, the District complied, in all material respects, with the aforementioned requirements for the fiscal year ended September 30, 2019. This report is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, management, and the Board of Supervisors of River Glen Community Development District, Nassau County, Florida and is not intended to be and should not be used by anyone other than these specified parties. March 30, 2020


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MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

To the Board of Supervisors River Glen Community Development District Nassau County, Florida Report on the Financial Statements We have audited the accompanying basic financial statements of River Glen Community Development District, Nassau County, Florida ("District") as of and for the fiscal year ended September 30, 2019, and have issued our report thereon dated March 30, 2020, which includes explanatory paragraphs regarding the adverse opinion on the special purpose entity fund and the governmental activities as to the departure from generally accepted accounting principles and an emphasis of matter paragraph. Auditor’s Responsibility We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and Chapter 10.550, Rules of the Auditor General. Other Reporting Requirements We have issued our Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; and Independent Auditor’s Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated March 30, 2020, should be considered in conjunction with this management letter. Purpose of this Letter The purpose of this letter is to comment on those matters required by Chapter 10.550 of the Rules of the Auditor General of the State of Florida. Accordingly, in connection with our audit of the financial statements of the District, as described in the first paragraph, we report the following: I. Current year findings and recommendations. II. Status of prior year findings and recommendations. III. Compliance with the Provisions of the Auditor General of the State of Florida. Our management letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, Federal and other granting agencies, as applicable, management, and the Board of Supervisors of River Glen Community Development District, Nassau County, Florida and is not intended to be and should not be used by anyone other than these specified parties. We wish to thank River Glen Community Development District, Nassau County, Florida and the personnel associated with it, for the opportunity to be of service to them in this endeavor as well as future engagements, and the courtesies extended to us.

March 30, 2020

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REPORT TO MANAGEMENT I. CURRENT YEAR FINDINGS AND RECOMMENDATIONS

Material Weakness 2019-01: Appraisal Not Performed and Land Held for Resale Not Recorded Observation: No appraisal was performed on the property owned by the SPE. Consequently, while the property should be recorded in the financial statements as land held for resale, no amount was recorded in the financial statements related to this asset as the market value of the property could not be determined. Recommendation: An annual appraisal should be performed on the property owned by the SPE to determine its value as the end of each fiscal year. Management Response: River Glen CDD Holdings, LLC is a Florida limited liability company, (“Holdings”) established by the District for the sole purpose of holding lands acquired by the District through the foreclosure of special assessment liens. No appraisal was performed on the land owned by Holdings. Due to this the market value of the land could not be determined at September 30, 2019 and no amount was recorded in the financial statements for the asset.

Other Findings

2019-02: Financial Condition Assessment Observation: The District’s financial conditions continue to deteriorate. The Developer failed to pay assessments during prior fiscal years. As a result, the District foreclosed on the related property which was acquired by the SPE. Due to a lack of sufficient funds, certain scheduled debt service payments were not made in the prior, current, or subsequent fiscal years resulting in events of default. In addition, the reserve requirements of the Series 2006 Bonds have not been met. Further, the debt service fund reported a deficit fund balance of ($5,334,593) at September 30, 2019. Recommendation: The District should take the necessary steps to alleviate the deteriorating financial condition.

Management Response: The District and Trustee formed a SPE to hold, manage and dispose of the property on behalf of the Bondholders. The SPE took title to the Developer property through foreclosure of the special assessment lien, therefore, there are no debt service assessments to collect relating to the foreclosed land. The proceeds from the sale of the land will be used to satisfy the District's debt as it relates to the foreclosed property. It is unknown at this time when the reserve account requirement will be satisfied.

II. PRIOR YEAR FINDINGS AND RECOMMENDATIONS

15-01 - Land held for Sale Not Recorded Current Status: See finding no. 2019-01 above. Reference Numbers for Prior Year Findings: 15-01 in fiscal years 2016 – 2018.

16-01 - Failure to Meet Debt Service Reserve Requirements Current Status: See finding no. 2019-02 above. Reference Numbers for Prior Year Findings: 16-01 in fiscal years 2016 – 2018.

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REPORT TO MANAGEMENT (Continued) 15-02 - Failure to Make Bond Debt Service Payments When Due Current Status: See finding no. 2019-02 above. Reference Numbers for Prior Year Findings: 16-01 in fiscal years 2016 – 2018.

III. COMPLIANCE WITH THE PROVISIONS OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

Unless otherwise required to be reported in the auditor’s report on compliance and internal controls, the management letter shall include, but not be limited to the following: 1. A statement as to whether or not corrective actions have been taken to address findings and

recommendations made in the preceding annual financial audit report.

There were no significant findings and recommendations made in the preceding annual financial audit report for the fiscal year ended September 30, 2018, except as noted above.

2. Any recommendations to improve the local governmental entity's financial management.

There were no such matters discovered by, or that came to the attention of, the auditor, to be reported for the fiscal year ended September 30, 2019, except as noted above.

3. Noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance.

There were no such matters discovered by, or that came to the attention of, the auditor, to be reported, for the fiscal year ended September 30, 2019, except as noted above.

4. The name or official title and legal authority of the District are disclosed in the notes to the financial statements.

5. In connection with our audit, we determined that the District has met one or more of the financial emergency conditions described in Section 218.503(1), Florida Statutes. The District failed to make certain scheduled debt service payments due on the Series 2006 Bonds, as a result of a lack of funds. We applied financial condition assessment procedures pursuant to Rule 10.556(7) and determined that a deteriorating financial condition was noted. See Findings section above for additional information. It is management’s responsibility to monitor financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same.

RESOLUTION 2020-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE RIVER

GLEN COMMUNITY DEVELOPMENT DISTRICT REDESIGNATING

THE SECRETARY OF THE DISTRICT, AND PROVIDING FOR AN

EFFECTIVE DATE

WHEREAS, the River Glen Community Development District (the "District") is a local unit of

special-purpose government organized and existing in accordance with Chapter 190, Florida

Statutes, and situated entirely within Nassau County, Florida; and

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS

OF THE RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT:

Section 1. Bob Schleifer is appointed Secretary

Section 2. This Resolution and any prior resolutions of the District shall be construed

to the maximum extent possible to give full force and effect to the

provisions of each resolution. All District resolutions or parts thereof in

actual conflict with this Resolution are, to the extent of such conflict,

superseded, and repealed.

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

PASSED AND ADOPTED THIS 21st DAY OF MAY, 2020.

RIVER GLEN COMMUNITY

DEVELOPMENT DISTRICT

CHAIRMAN/VICE CHAIRMAN

ATTEST:

ASSISTANT SECRETARY

RESOLUTION 2020-06

A RESOLUTION OF THE BOARD OF SUPERVISORS OF RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT AMENDING RESOLUTION 2006-21 DESIGNATING THE AUTHORIZED SIGNATORIES FOR THE DISTRICT’S OPERATING BANK ACCOUNT(S), AND PROVIDING FOR AN EFFECTIVE DATE

WHEREAS, River Glen Community Development District (“District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within Nassau County, Florida; and

WHEREAS, the Board of Supervisors of the District (“Board”) previously adopted Resolution 2006-21 which designated the authorized signatories for the District’s operating bank account(s); and

WHEREAS, the Board desires to amend Resolution 2006-21 include the Assistant Treasurer as an authorized signatory for the operating bank account(s).

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT THAT:

Section 1. Resolution 2006-21 is hereby amended to include the Assistant Treasurer as an authorized signatory for the operating bank account(s) of the District.

Section 2. All other provisions of Resolution 2006-21 shall remain unchanged and in full force and effect.

Section 3. This Resolution shall become effective immediately upon its

adoption. PASSED AND ADOPTED this 21st day of May, 2020.

ATTEST: RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT

__________________________ _________________________________ Secretary/Assistant Secretary Chairman/Vice Chairman

STAFF REPORTS

District Counsel

District Engineer

Field Inspection Report

RIVER GLEN______________________________________________________________

FIELD INSPECTION REPORT

April 22, 2020Rizzetta & Company

Tyree Brown – Field Services Manager

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The following are action items for Brightview Landscaping to complete. Please refer to the item # inyour response listing action already taken or anticipated time of completion. Red text indicatesdeficient from previous report. Bold Red text indicates deficient for more than a month. Green textindicates a proposal has been requested. Blue indicates irrigation.

LANDSCAPE SUMMARY

General Updates, Recent & Upcoming Maintenance Events

Treat multiple fungus issues in plant material in the community.

Provide plan to Mulch the community.

Provide plant to develop the Bermuda turf at the amenity center.

Provide soil analysis of the community turf.

.

1. Line trim around trash can at the playground at the amenity center grounds.

2. Community is in need of Mulching.

3. Continue to treat Feijoa at the amenity center for fungus. (photo 3)

4. Prune seed pods from Sable Palms at the amenity center.

5. Work to eliminate turf weeds in the irrigated areas of the common areas of the community.

6. Continue to treat Ligustrums at the amenity center parking lot for fungus.

7. Give proposal to replace missing Ligustrum in the amenity center parking lot at the traffic circle.

8. Weed plant beds inside the pool area of the amenity center. (photo 8)

9. Weed plant beds along the fence line of the amenity center near the pool area.

10. Weed Juniper bed at the paver sidewalk on the east side of the amenity center.

11. Weed plant beds along the fence line in front of the tennis court at the amenity center.

12. Continue to treat Ligustrums for fungus along the fence line in front of the tennis court.

83

RIVER GLEN

3

17

15

.

13. The Loropetalum on the east side of the clubhouse inside and outside the fence needs a rejuvenation prune in the spring.

14. Continue to treat the Indian Hawthorne in front of the amenity center for fungus.

15. Replace, under warranty, the Ligustrum in the right of way at the community entrance on River Glen. (photo 15)

16. Give rejuvenation prune to the Loropetalum in front of the tennis court at the amenity center in the spring.

17. Develop plan from thinning Bermuda turf at the amenity center from fungus and Mole Cricket damage. (photo 17)

18. Remove vines from Muhly Grass in the right of way of River Glen.

19. Weed plant bed at the well pump back of sidewalk near the lift station on River Glen, east side.

20. Treat turf weeds in the right of way of River Glen, both sides of the road.

21. Prune Schilling growing over the sidewalk on the east end of River Glen across from the

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amenity center.

22. Ornamental grass beds at the community frontage are in need of pine straw application.

23. Weed plant bed at the lift station on River Glen.

24. Weed ornamental grass beds in the right of way of River Glen at the intersection with Morning Glen.

25. Large area of bare turf next to sidewalk at the intersection of Morning Glen and River Glen needs replacement. (photo 25)

RIVER GLEN

4

34

31

.

26. Treat all active Fire Ant mounds in the community.

27. Develop plan to improve turf color and health throughout the community.

28. Prune Sable Palm hitting the building inside the pool area of the amenity center.

29. Zoysia turf at the intersection of River Glen and Edwards is off color. Fertilization needed.

30. Treat weeds in the turf in the right of way at Edwards and River Glen.

31. Remove sucker growth on Holley trees back of sidewalk on River Glen at the large open field. (photo 31)

32. Work on turf weeds in the Bermuda in the large open field at the amenity center.

33. Weed turf and plant beds in the large island on River Glen at the intersection with Fern Creek.

34. Turf is off color in large island River Glen at intersection with Fern Creek. (photo 34)

35. Provide results from soil samples in turf

39

areas of the community.

36. Weed turf right of way on River Glen at the community entrance both sides.

37. Prune Live Oaks on the south side of River Glen at the community entrance.

38. Prune Loropetalum over the sidewalk on the north side of the community entrance on River Glen.

39. Monitor recently rejuvenated Loropetalum the south side of the community entrance on River Glen. (photo 39)

River Glen Inspection Report Update

1. This will be completed 4/27/20 2. I will get this scheduled 3. I will get this scheduled 4. I will get this scheduled 5. I will get this scheduled 6. I will get this scheduled 7. I will get a proposal to you by 5/1/20 8. This will be completed 4/27/20 9. This will be completed 4/27/20 10. This will be completed 4/27/20 11. This will be completed 4/27/20 12. I will get this scheduled 13. This is scheduled for 5/6/20 14. I will get this scheduled 15. I will get this scheduled 16. This is scheduled for 5/6/20 17. I will get with our Agronomic Department 18. This will completed 4/27/20 19. This will be completed 4/27/20 20. I will get this scheduled 21. This is scheduled for 5/6/20 22. I will get this scheduled 23. This will be completed 4/27/20 24. This will be completed 4/27/20 25. I will take a look at this this week 26. We will work on this every site visit 27. I will speak with our Agronomic Department 28. This will be completed 4/27/20 29. I will get this scheduled 30. I will get this scheduled 31. This will be completed 4/27/20 32. I will get this scheduled 33. This is scheduled for 5/6/20 34. I will get this scheduled

35. I will get these over to you as soon as possible

Landscape Report

11530 Davis Creek Court - Jacksonville, Florida 32256 (904) 292-0716 / Fax: (904) 292-1014

MEMORANDUM

DATE: May 13, 2020 TO: River Glen ATTN: Board of Directors FROM: Jay Jernigan RE: Landscape Report Grounds Maintenance Weekly grounds maintenance Weekly bed weed control. Apply herbicide to pavers and sidewalk cracks. Apply herbicide to landscape beds Trimming entrances and amenity center Cutting back loropetalum Trimming crape myrtles

Irrigation Everything has been approved and repaired. Agronomics All agronomic treatments are up to schedule Enhancements No new news to report Arbor Care No new news to report.

Amenity Manager Report

River Glen Community Development District Field Report May 2020 First Coast CMS LLC 05/11/2020

Aug Nov River Glen Community Development District

Nov 2019

2

Swimming Pools Currently, there are no maintenance issues with the pool. We are set to open the pools on a limited basis to resident on Tuesday, May 12th.

There were come broken pool deck tiles that were replaced on the activity pool deck. This was done inhouse by staff.

Facility Maintenance The gym will remain closed until further direction is given.

We are continuing with the card audit system and having residents fill out the new registration forms

The deck drain has been installed by Cornerstone Solutions.

We have received proposal for expanding the camera system.

All private reservations of the facility are cancelled until further notice.

There is an issue with mulch piling up between the main pool and activity pool. This prevents the pool deck from draining properly. It is our recommendation that this mulch be completely removed and will be soliciting bids to have the work completed.

District Manager

(888) 480-5253

(888) 358-0088

===========================================================================================================================

Service Date 4/3/2020 8398

No. PI-A00385084

Order No. SMOR-328129

Contract No. SVR47794

Technician Name and State License #s

William R. Ashwell (Bill)

Service Item # Description Lake No. Lake Name

8398-LAKE-ALL River Glen Cdd-Lake-ALL 9 River Glen Cdd-Lake-ALL

Technician's Comments: Today ponds 2-7 were treated for shoreline weeds, no other treatments weredeemed necessary.

General Comments: Inspected Lake

Inspected for algae

===========================================================================================================================

Service Date 4/24/2020 8398

No. PI-A00396826

Order No. SMOR-335140

Contract No. SVR47794

Technician Name and State License #s

William R. Ashwell (Bill)

Service Item # Description Lake No. Lake Name

8398-LAKE-ALL River Glen Cdd-Lake-ALL 9 River Glen Cdd-Lake-ALL

Technician's Comments: As per requested pond 6 was treated for algae.

General Comments: Inspected Lake

Inspected for algae

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50097

May 6, 2020

04/01/20..04/30/20Date Range:

Service History Report

River Glen Cdd

BUSINESS ITEMS

Tab 10

Tab 11

RESOLUTION 2020-07

A RESOLUTION BY THE BOARD OF SUPERVISORS OF THE RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT ADOPTING AN INTERNAL CONTROLS POLICY CONSISTENT WITH SECTION 218.33, FLORIDA STATUTES; PROVIDING AN EFFECTIVE DATE.

WHEREAS, the River Glen Community Development District (the “District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within Nassau County, Florida; and WHEREAS, consistent with Section 218.33, Florida Statutes, the District is statutorily required to establish and maintain internal controls designed to prevent and detect fraud, waste, and abuse as defined in Section 11.45(1), Florida Statutes; promote and encourage compliance with applicable laws, rules, contracts, grant agreements, and best practices; support economical and efficient operations; ensure reliability of financial records and reports; and safeguard assets; and WHEREAS, to demonstrate compliance with Section 218.33, Florida Statutes, the District desires to adopt by resolution the Internal Controls Policy attached hereto as Exhibit A.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. The attached Internal Controls Policy attached hereto as Exhibit A is hereby adopted pursuant to this Resolution. SECTION 2. If any provision of this Resolution is held to be illegal or invalid, the other provisions shall remain in full force and effect. SECTION 3. This Resolution shall become effective upon its passage and shall remain in effect unless rescinded or repealed. PASSED AND ADOPTED THIS 21st DAY OF MAY, 2020. ATTEST: RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT ______________________________ ____________________________________ Secretary/Assistant Secretary Chairman, Board of Supervisors

EXHIBIT “A”

RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT INTERNAL CONTROLS POLICY

1. Purpose.

1.1. The purpose of this internal controls policy is to establish and maintain internal controls

for the River Glen Community Development District. 1.2. Consistent with Section 218.33(3), Florida Statutes, the internal controls adopted herein

are designed to:

1.2.1. Prevent and detect Fraud, Waste, and Abuse (as hereinafter defined). 1.2.2. Promote and encourage compliance with applicable laws, rules, contracts, grant

agreements, and best practices. 1.2.3. Support economical and efficient operations. 1.2.4. Ensure reliability of financial records and reports. 1.2.5. Safeguard Assets (as hereinafter defined).

2. Definitions.

2.1. “Abuse” means behavior that is deficient or improper when compared with behavior that a prudent person would consider a reasonable and necessary operational practice given the facts and circumstances. The term includes the misuse of authority or position for personal gain.

2.2. “Assets” means District assets such as cash or other financial resources, supplies, inventories, equipment and other fixed assets, real property, intellectual property, or data.

2.3. “Auditor” means the independent auditor (and its employees) retained by the District to

perform the annual audit required by state law. 2.4. “Board” means the Board of Supervisors for the District. 2.5. “District Management” means (i) the independent contractor (and its employees)

retained by the District to provide professional district management services to the District and (ii) any other independent contractor (and its employees) separately retained by the District to provide amenity management services, provided said services include a responsibility to safeguard and protect Assets.

2.6. “Fraud” means obtaining something of value through willful misrepresentation, including, but not limited to, intentional misstatements or intentional omissions of amounts or disclosures in financial statements to deceive users of financial statements, theft of an entity’s assets, bribery, or the use of one’s position for personal enrichment through the deliberate misuse or misapplication of an organization’s resources.

2.7. “Internal Controls” means systems and procedures designed to prevent and detect fraud,

waste, and abuse; promote and encourage compliance with applicable laws, rules, contracts, grant agreements, and best practices; support economical and efficient operations; ensure reliability of financial records and reports; and safeguard assets.

2.8. “Risk” means anything that could negatively impact the District’s ability to meet its

goals and objectives. The term includes strategic, financial, regulatory, reputational, and operational risks.

2.9. “Waste” means the act of using or expending resources unreasonably, carelessly,

extravagantly, or for no useful purpose.

3. Control Environment. 3.1. Ethical and Honest Behavior.

3.1.1. District Management is responsible for maintaining a work environment that

promotes ethical and honest behavior on the part of all employees, contractors, vendors and others.

3.1.2. Managers at all levels must behave ethically and communicate to employees and others that they are expected to behave ethically.

3.1.3. Managers must demonstrate through words and actions that unethical

behavior will not be tolerated.

4. Risk Assessment. 4.1. Risk Assessment. District Management is responsible for assessing Risk to the District.

District Management’s Risk assessments shall include, but not be limited to: 4.1.1. Identifying potential hazards.

4.1.2. Evaluating the likelihood and extent of harm.

4.1.3. Identifying cost-justified precautions and implementing those precautions.

5. Control Activities.

5.1. Minimum Internal Controls. The District hereby establishes the following minimum Internal Controls to prevent and detect Fraud, Waste, and Abuse:

5.1.1. Preventive controls designed to forestall errors or irregularities and thereby avoid the

cost of corrections. Preventive control activities shall include, but not be limited to, the following:

5.1.1.1. Identifying and segregating incompatible duties and/or implementing

mitigating controls.

5.1.1.2. Performing accounting functions in accordance with Generally Accepted Accounting Principles (GAAP) and Governmental Accounting Standards Board (GASB) standards.

5.1.1.3. Requiring proper authorizations to access and/or modify accounting software.

5.1.1.4. Implementing computerized accounting techniques (e.g. to help identify coding errors, avoid duplicate invoices, etc.).

5.1.1.5. Maintaining a schedule of the District’s material fixed Assets.

5.1.1.6. Maintaining physical control over the District’s material and vulnerable

Assets (e.g. lock and key, computer passwords, network firewalls, etc.).

5.1.1.7. Retaining and restricting access to sensitive documents.

5.1.1.8. Performing regular electronic data backups.

5.1.2. Detective controls designed to measure the effectiveness of preventive controls and to detect errors or irregularities when they occur. Detective control activities shall include, but not be limited to, the following:

5.1.2.1. Preparing financial reports in accordance with Generally Accepted Accounting Principles (GAAP) and Governmental Accounting Standards Board (GASB) standards.

5.1.2.2. Reviewing financial statements and investigating any material variances between budgeted expenses and actual expenses.

5.1.2.3. Establishing and implementing periodic reconciliations of bank, trust, and petty cash accounts.

5.1.2.4. Establishing an internal protocol for reporting and investigating known or suspected acts of Fraud, Waste, or Abuse.

5.1.2.5. Engaging in periodic physical inventory counts and comparisons with

inventory records.

5.1.2.6. Monitoring all ACH (electronic) transactions and the sequencing of checks.

5.2. Implementation. District Management shall implement the minimum Internal Controls described herein. District Management may also implement additional Internal Controls that it deems advisable or appropriate for the District. The specific ways District Management implements these minimum Internal Controls shall be consistent with Generally Accepted Accounting Principles (GAAP) and otherwise conform to Governmental Accounting Standards Board (GASB) and American Institute of Certified Public Accountants (AICPA) standards and norms.

6. Information and Communication.

6.1. Information and Communication. District Management shall communicate to its employees (needing to know) information relevant to the Internal Controls, including but not limited to any changes to the Internal Controls and/or changes to laws, rules, contracts, grant agreements, and best practices.

6.2. Training. District Management shall regularly train its employees (needing the training) in connection with the Internal Controls described herein and promote and encourage compliance with applicable laws, rules, contracts, grant agreements, and best practices.

7. Monitoring Activities.

7.1. Internal Reviews. District Management shall internally review the District’s Internal Controls at least once per year. In connection with this internal review, District Management shall:

7.1.1.1. Review its operational processes.

7.1.1.2. Consider the potential risk of Fraud, Waste, or Abuse inherent in each

process.

7.1.1.3. Identify the controls included in the process, or controls that could be included, that would result in a reduction in the inherent risk.

7.1.1.4. Assess whether there are Internal Controls that need to be improved or added to the process under consideration.

7.1.1.5. Implement new controls or improve existing controls that are determined to be the most efficient and effective for decreasing the risk of Fraud, Waste or Abuse.

7.1.1.6. Train its employees on implemented new controls or improvements to

existing controls.

7.2. External Audits and Other Reviews. Audits and other reviews may be performed on various components of the District’s Internal Controls by the Auditor consistent with Government Auditing Standards (GAS). Audits may identify material deficiencies in the Internal Controls and make recommendations to improve them. District Management shall communicate and cooperate with the Board and the Auditor regarding the potential implementation of Auditor recommendations.

Specific Authority: §§ 190.011(5), 218.33(3), Florida Statutes Effective date: May 21, 2020

Tab 12

Work OrderDate

3/5/2020

Order #

5339

First Coast CMSRiver Glen CDD2806 N 5th St #403St. Augustine, FL 32084

Total

Subtotal

Sales Tax (0.0%)

1 Hargrove Grade Suite 1APalm Coast, Fl 32137

(386) 957-9339(866) 896-9055 Fax

[email protected]

Florida Contractor License #ES12000771

This Work Order includes only the work and service listed above and no other. All products andinstallation are warranted for 1 year from date of completion in accordance with the terms of theCamera System Agreement. I have read and agree to all terms on conditions set forth here and on theCamera System Agreement. I understand that 25% deposit is due before any work shall be scheduled.Therafter, work shall commence as soon as reasonably possible. My signatures indicate acceptanceand then satisfactory completion of the work covered herein. Balance is due upon completion ofwork.

Signature Accept:

Balance DueSignature Completion:

Date:

Date:

Acceptance Deposit (25%)

Description Qty Cost Total

HD 16 Camera 1080P Digital Video Recorder- CGA/HDMI, We/App Viewable, 2 HDD Bay, H.264dual-stream video compression, All channel 1080P, HDMI / VGA / TV simultaneous video output, 4channel synchronous realtime playback, GRID interface & smart search, 3D intelligent positioningwith PTZ dome camera, Support 2 SATA HDD up to 8TB, 2 USB2.0, Multiple network monitoring:Web viewer CMS (DSS/PSS) & DMSS***Includes Installation***

1 1,300.00 1,300.00

4 TB Hard Drive 1 200.00 200.00

HD Armor Ball 5.0 MP IR Camera- 1/3" 5.0 Megapixel CMOS, 30fps @ 5MP, 30fps @ 1080P,30fps @ 720P, High speed, long distance real-time, transmission, Analog / HD Switchable via BNCConnections, OSD Menu, Control over Coaxial Cable, Day/Night (ICR), AWB, AGC, BLC,3D-DNR, 2.8mm fixed lens, Max. IR LEDs length 98ft (30m), Smart IR, IP67, DC12V***Includes Installation***

3 300.00 900.00

Additional Installation Supplies & Labor- CCTV Cable, Conduit, PVC, Junction Boxes,Miscellaneous Hardware

1 200.00 200.00

Extended Warranty Option- Complete Surveillance Camera System($250 Per Year After the 1st Year For Complete System- Parts & Labor)

0.00 0.00

25% Deposit Due- $650.00

$2,600.00

$2,600.00

$0.00

Work OrderDate

3/9/2020

Order #

5339

First Coast CMSRiver Glen CDD2806 N 5th St #403St. Augustine, FL 32084

Total

Subtotal

Sales Tax (0.0%)

1 Hargrove Grade Suite 1APalm Coast, Fl 32137

(386) 957-9339(866) 896-9055 Fax

[email protected]

Florida Contractor License #ES12000771

This Work Order includes only the work and service listed above and no other. All products andinstallation are warranted for 1 year from date of completion in accordance with the terms of theCamera System Agreement. I have read and agree to all terms on conditions set forth here and on theCamera System Agreement. I understand that 25% deposit is due before any work shall be scheduled.Therafter, work shall commence as soon as reasonably possible. My signatures indicate acceptanceand then satisfactory completion of the work covered herein. Balance is due upon completion ofwork.

Signature Accept:

Balance DueSignature Completion:

Date:

Date:

Acceptance Deposit (25%)

Description Qty Cost Total

HD 16 Camera 1080P Digital Video Recorder- CGA/HDMI, We/App Viewable, 2 HDD Bay, H.264dual-stream video compression, All channel 1080P, HDMI / VGA / TV simultaneous video output, 4channel synchronous realtime playback, GRID interface & smart search, 3D intelligent positioningwith PTZ dome camera, Support 2 SATA HDD up to 8TB, 2 USB2.0, Multiple network monitoring:Web viewer CMS (DSS/PSS) & DMSS***Includes Installation***

1 1,300.00 1,300.00

4 TB Hard Drive 1 200.00 200.00

Motorized Varifocal HD-over-Coax Armor Dome Camera- 1/2.8" 5 Megapixel CMOS, 25/30 @1080P, 25/30/50/60fps @ 720P, High speed, long distance real-time transmission,HD and Standarddefinition switchable*,OSD Menu, control over coaxial cable,Day/Night (ICR), AWB, AGC, BLC,3D-DNR, 3 Axis Mount, 2.7~12mm Varifocal Lens with Motorized Zoom**, Max IR LEDs length30m, Smart IR, IP66, IK10, DC12V***Includes Installation***

3 350.00 1,050.00

Additional Installation Supplies & Labor- CCTV Cable, Conduit, PVC, Junction Boxes,Miscellaneous Hardware

1 200.00 200.00

Extended Warranty Option- Complete Surveillance Camera System($275 Per Year After the 1st Year For Complete System- Parts & Labor)

0.00 0.00

25% Deposit Due- $680.00

$2,750.00

$2,750.00

$0.00

Tab 13

RESOLUTION 2020-08

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT APPROVING PROPOSED BUDGETS FOR FISCAL YEAR 2020/2021 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW; ADDRESSING TRANSMITTAL, POSTING AND PUBLICATION REQUIREMENTS; ADDRESSING SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has heretofore prepared and submitted to the Board of Supervisors (“Board”) of the River Glen Community Development District (“District”) prior to June 15, 2020, proposed budgets (“Proposed Budget”) for the fiscal year beginning October 1, 2020 and ending September 30, 2021 (“Fiscal Year 2020/2021”); and WHEREAS, the Board has considered the Proposed Budget and desires to set the required public hearing thereon.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT:

1. PROPOSED BUDGET APPROVED. The Proposed Budget prepared by the District

Manager for Fiscal Year 2020/2021 attached hereto as Exhibit A is hereby approved as the basis for conducting a public hearing to adopt said Proposed Budget.

2. SETTING A PUBLIC HEARING. A public hearing on said approved Proposed Budget

is hereby declared and set as follows:

DATE: _________________________, 2020 HOUR: _________________________

The hearing may be conducted remotely, pursuant to ___________ media technology

and/or by telephone pursuant to Executive Orders 20-52 and 20-69 issued by Governor DeSantis on March 9, 2020, and March 20, 2020, as such orders may be extended, respectively, and pursuant to Section 120.54(5)(b)2., Florida Statutes. In the event that conditions allow the meeting to be held in person, it will be held at the following location:

LOCATION: ___________________ ___________________ ___________________

3. TRANSMITTAL OF PROPOSED BUDGET TO LOCAL GENERAL PURPOSE

GOVERNMENT. The District Manager is hereby directed to submit a copy of the Proposed Budget to Nassau County at least 60 days prior to the hearing set above.

4. POSTING OF PROPOSED BUDGET. In accordance with Section 189.016, Florida

Statutes, the District’s Secretary is further directed to post the approved Proposed Budget on the District’s website at least two days before the budget hearing date as set forth in Section 2, and shall remain on the website for at least 45 days.

5. PUBLICATION OF NOTICE. Notice of this public hearing shall be published in the

manner prescribed in Florida law. 6. SEVERABILITY. The invalidity or unenforceability of any one or more provisions of

this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

7. EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 31st DAY OF MAY, 2020.

ATTEST: RIVER GLEN COMMUNITY DEVELOPMENT DISTRICT

_____________________________ By:___________________________ Secretary Its:____________________________

Exhibit A

River Glen Community Development District

riverglencdd.org

Proposed Budget for Fiscal Year 2020-2021

Presented by: Rizzetta & Company, Inc.

2806 N. Fifth Street Suite 403

St. Augustine, Florida 32084 Phone: 904-436-6270

rizzetta.com

TABLE OF CONTENTS

Page

General Fund Budget Account Category Descriptions 1

Reserve Fund Budget Account Category Descriptions 8

Debt Service Fund Budget Account Category Descriptions 9

General Fund Budget for Fiscal Year 2020-2021 10

Reserve Fund Budget for Fiscal Year 2020-2021 13

Debt Service Fund Budget for Fiscal Year 2020-2021 14

Assessments Charts for Fiscal Year 2020-2021 15

GENERAL FUND BUDGET ACCOUNT CATEGORY DESCRIPTION

The General Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all General Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Interest Earnings: The District may earn interest on its monies in the various operating accounts.

Tax Roll: The District levies Non-Ad Valorem Special Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year. The assessments may be collected in two ways. The first is by placing them on the County’s Tax Roll, to be collected with the County’s Annual Property Tax Billing. This method is only available to land properly platted within the time limits prescribed by the County.

Off Roll: For lands not on the tax roll and that is by way of a direct bill from the District to the appropriate property owner.

Developer Contributions: The District may enter into a funding agreement and receive certain prescribed dollars from the Developer to off-set expenditures of the District.

Event Rental: The District may receive monies for event rentals for such things as weddings, birthday parties, etc.

Miscellaneous Revenues: The District may receive monies for the sale or provision of electronic access cards, entry decals etc.

Facilities Rentals: The District may receive monies for the rental of certain facilities by outside sources, for such items as office space, snack bar/restaurants etc.

EXPENDITURES – ADMINISTRATIVE:

Supervisor Fees: The District may compensate its supervisors within the appropriate statutory limits of $200.00 maximum per meeting within an annual cap of $4,800.00 per supervisor.

1

Administrative Services: The District will incur expenditures for the day to today operation of District matters. These services include support for the District Management function, recording and preparation of meeting minutes, records retention and maintenance in accordance with Chapter 119, Florida Statutes, and the District’s adopted Rules of Procedure, preparation and delivery of agenda, overnight deliveries, facsimiles and phone calls.

District Management: The District as required by statute, will contract with a firm to provide for management and administration of the District’s day to day needs. These services include the conducting of board meetings, workshops, overall administration of District functions, all required state and local filings, preparation of annual budget, purchasing, risk management, preparing various resolutions and all other secretarial duties requested by the District throughout the year is also reflected in this amount.

District Engineer: The District’s engineer provides general engineering services to the District. Among these services are attendance at and preparation for monthly board meetings, review of construction invoices and all other engineering services requested by the district throughout the year.

Disclosure Report: The District is required to file quarterly and annual disclosure reports, as required in the District’s Trust Indenture, with the specified repositories. This is contracted out to a third party in compliance with the Trust Indenture.

Trustee’s Fees: The District will incur annual trustee’s fees upon the issuance of bonds for the oversight of the various accounts relating to the bond issues.

Assessment Roll: The District will contract with a firm to maintain the assessment roll and annually levy a Non-Ad Valorem assessment for operating and debt service expenses.

Financial & Revenue Collections: Services include all functions necessary for the timely billing and collection and reporting of District assessments in order to ensure adequate funds to meet the District’s debt service and operations and maintenance obligations. These services include, but are not limited to, assessment roll preparation and certification, direct billings and funding request processing as well as responding to property owner questions regarding District assessments. This line item also includes the fees incurred for a Collection Agent to collect the funds for the principal and interest payment for its short-term bond issues and any other bond related collection needs. These funds are collected as prescribed in the Trust Indenture. The Collection Agent also provides for the release of liens on property after the full collection of bond debt levied on particular properties.

Accounting Services: Services include the preparation and delivery of the District’s financial statements in accordance with Governmental Accounting Standards, accounts payable and accounts receivable functions, asset tracking, investment tracking, capital program administration and requisition processing, filing of annual reports required by the State of Florida and monitoring of trust account activity.

2

Auditing Services: The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting firm, once it reaches certain revenue and expenditure levels, or has issued bonds and incurred debt.

Arbitrage Rebate Calculation: The District is required to calculate the interest earned from bond proceeds each year pursuant to the Internal Revenue Code of 1986. The Rebate Analyst is required to verify that the District has not received earnings higher than the yield of the bonds.

Travel: Each Board Supervisor and the District Staff are entitled to reimbursement for travel expenses per Florida Statutes 190.006(8).

Public Officials Liability Insurance: The District will incur expenditures for public officials’ liability insurance for the Board and Staff.

Legal Advertising: The District will incur expenditures related to legal advertising. The items for which the District will advertise include, but are not limited to meeting schedules, special meeting notices, and public hearings, bidding etc. for the District based on statutory guidelines

Bank Fees: The District will incur bank service charges during the year.

Dues, Licenses & Fees: The District is required to pay an annual fee to the Department of Economic Opportunity, along with other items which may require licenses or permits, etc.

Miscellaneous Fees: The District could incur miscellaneous throughout the year, which may not fit into any standard categories.

Website Hosting, Maintenance and Email: The District may incur fees as they relate to the development and ongoing maintenance of its own website along with possible email services if requested.

District Counsel: The District’s legal counsel provides general legal services to the District. Among these services are attendance at and preparation for monthly board meetings, review of operating and maintenance contracts and all other legal services requested by the district throughout the year.

EXPENDITURES - FIELD OPERATIONS:

Deputy Services: The District may wish to contract with the local police agency to provide security for the District.

3

Security Services and Patrols: The District may wish to contract with a private company to provide security for the District.

Electric Utility Services: The District will incur electric utility expenditures for general purposes such as irrigation timers, lift station pumps, fountains, etc.

Streetlights: The District may have expenditures relating to streetlights throughout the community. These may be restricted to main arterial roads or in some cases to all streetlights within the District’s boundaries. Utility - Recreation Facility: The District may budget separately for its recreation and or amenity electric separately.

Gas Utility Services: The District may incur gas utility expenditures related to district operations at its facilities such as pool heat etc.

Garbage - Recreation Facility: The District will incur expenditures related to the removal of garbage and solid waste.

Solid Waste Assessment Fee: The District may have an assessment levied by another local government for solid waste, etc.

Water-Sewer Utility Services: The District will incur water/sewer utility expenditures related to district operations.

Utility - Reclaimed: The District may incur expenses related to the use of reclaimed water for irrigation.

Aquatic Maintenance: Expenses related to the care and maintenance of the lakes and ponds for the control of nuisance plant and algae species.

Fountain Service Repairs & Maintenance: The District may incur expenses related to maintaining the fountains within throughout the Parks & Recreational areas

Lake/Pond Bank Maintenance: The District may incur expenditures to maintain lake banks, etc. for the ponds and lakes within the District’s boundaries, along with planting of beneficial aquatic plants, stocking of fish, mowing and landscaping of the banks as the District determines necessary.

Wetland Monitoring & Maintenance: The District may be required to provide for certain types of monitoring and maintenance activities for various wetlands and waterways by other governmental entities.

Mitigation Area Monitoring & Maintenance: The District may be required to provide for certain types of monitoring and maintenance activities for various mitigation areas by other governmental entities.

4

Aquatic Plant Replacement: The expenses related to replacing beneficial aquatic plants, which may or may not have been required by other governmental entities.

General Liability Insurance: The District will incur fees to insure items owned by the District for its general liability needs

Property Insurance: The District will incur fees to insure items owned by the District for its property needs

Entry and Walls Maintenance: The District will incur expenditures to maintain the entry monuments and the fencing. Landscape Maintenance: The District will incur expenditures to maintain the rights-of-way, median strips, recreational facilities including pond banks, entryways, and similar planting areas within the District. These services include but are not limited to monthly landscape maintenance, fertilizer, pesticides, annuals, mulch, and irrigation repairs.

Irrigation Maintenance: The District will incur expenditures related to the maintenance of the irrigation systems.

Irrigation Repairs: The District will incur expenditures related to repairs of the irrigation systems.

Landscape Replacement: Expenditures related to replacement of turf, trees, shrubs etc.

Field Services: The District may contract for field management services to provide landscape maintenance oversight.

Miscellaneous Fees: The District may incur miscellaneous expenses that do not readily fit into defined categories in field operations.

Gate Phone: The District will incur telephone expenses if the District has gates that are to be opened and closed.

Street/Parking Lot Sweeping: The District may incur expenses related to street sweeping for roadways it owns or are owned by another governmental entity, for which it elects to maintain.

Gate Facility Maintenance: Expenses related to the ongoing repairs and maintenance of gates owned by the District if any.

Sidewalk Repair & Maintenance: Expenses related to sidewalks located in the right of way of streets the District may own if any.

Roadway Repair & Maintenance: Expenses related to the repair and maintenance of roadways owned by the District if any.

5

Employees - Salaries: The District may incur expenses for employees/staff members needed for the recreational facilities such as Clubhouse Staff.

Employees - P/R Taxes: This is the employer’s portion of employment taxes such as FICA etc.

Employee - Workers’ Comp: Fees related to obtaining workers compensation insurance.

Management Contract: The District may contract with a firm to provide for the oversight of its recreation facilities.

Maintenance & Repair: The District may incur expenses to maintain its recreation facilities.

Facility Supplies: The District may have facilities that required various supplies to operate.

Gate Maintenance & Repairs: Any ongoing gate repairs and maintenance would be included in this line item.

Telephone, Fax, Internet: The District may incur telephone, fax and internet expenses related to the recreational facilities.

Office Supplies: The District may have an office in its facilities which require various office related supplies.

Clubhouse - Facility Janitorial Service: Expenses related to the cleaning of the facility and related supplies.

Pool Service Contract: Expenses related to the maintenance of swimming pools and other water features.

Pool Repairs: Expenses related to the repair of swimming pools and other water features.

Security System Monitoring & Maintenance: The District may wish to install a security system for the clubhouse

Clubhouse Miscellaneous Expense: Expenses which may not fit into a defined category in this section of the budget

Athletic/Park Court/Field Repairs: Expense related to any facilities such as tennis, basketball etc.

Trail/Bike Path Maintenance: Expenses related to various types of trail or pathway systems the District may own, from hard surface to natural surfaces.

6

Special Events: Expenses related to functions such as holiday events for the public enjoyment

Miscellaneous Fees: Monies collected and allocated for fees that the District could incur throughout the year, which may not fit into any standard categories.

Miscellaneous Contingency: Monies collected and allocated for expenses that the District could incur throughout the year, which may not fit into any standard categories.

Capital Outlay: Monies collected and allocated for various projects as they relate to public improvements.

7

RESERVE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION

The Reserve Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Reserve Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Tax Roll: The District levies Non-Ad Valorem Special Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year. The assessments may be collected in two ways. The first is by placing them on the County’s Tax Roll, to be collected with the County’s Annual Property Tax Billing. This method is only available to land properly platted within the time limits prescribed by the County.

Off Roll: For lands not on the tax roll and that is by way of a direct bill from the District to the appropriate property owner.

Developer Contributions: The District may enter into a funding agreement and receive certain prescribed dollars from the Developer to off-set expenditures of the District.

Miscellaneous Revenues: The District may receive monies for the sale or provision of electronic access cards, entry decals etc.

EXPENDITURES:

Capital Reserve: Monies collected and allocated for the future repair and replacement of various capital improvements such as club facilities, swimming pools, athletic courts, roads, etc.

Capital Outlay: Monies collected and allocated for various projects as they relate to public improvements.

8

DEBT SERVICE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION

The Debt Service Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Debt Service Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Special Assessments: The District may levy special assessments to repay the debt incurred by the sale of bonds to raise working capital for certain public improvements. The assessments may be collected in the same fashion as described in the Operations and Maintenance Assessments.

EXPENDITURES – ADMINISTRATIVE:

Bank Fees: The District may incur bank service charges during the year.

Debt Service Obligation: This would a combination of the principal and interest payment to satisfy the annual repayment of the bond issue debt.

9

FORWARD

Chart of Accounts ClassificationActual YTD

through 04/30/20

Projected Annual Totals

2019/2020

Annual Budget

for 2019/2020

Projected Budget

variance for

2019/2020

Budget for 2020/2021

Budget Increase

(Decrease) vs

2019/2020

Comments

12 REVENUES3 Special Assessments

4 Tax Roll* $ 144,345 $ 144,345 $ 142,412 $ 1,933 $ 201,018 $ 58,606

To Be Updated Prior To Public Hearing

5 Off Roll* $ - $ - $ - $ - $ - $ - 6 Other Miscellaneous Revenues

7 Transfers from SPE $ 162,453 $ 250,325 $ 250,325 $ - $ 250,325 $ - To Be Updated Prior To Public Hearing

89 TOTAL REVENUES $ 306,798 $ 394,670 $ 392,737 $ 1,933 $ 451,343 $ 58,6061011 Balance Forward from Prior Year $ - $ - $ - $ - $ - $ - 1213 TOTAL REVENUES AND BALANCE $ 306,798 $ 394,670 $ 392,737 $ 1,933 $ 451,343 $ 58,6061415 *Allocation of assessments between the Tax Roll and Off Roll are estimates only and subject to change prior to1617 EXPENDITURES - ADMINISTRATIVE1819 Legislative20 Supervisor Fees $ 1,600 $ 6,600 $ 4,000 $ (2,600) $ 12,000 $ 8,000 Based on Monthly Meetings21 Financial & Administrative

22 Administrative Services $ 2,917 $ 5,000 $ 5,000 $ - $ 5,150 $ 150

*Proposed To Include a 3%Increase

23 District Management $ 17,398 $ 29,825 $ 29,825 $ - $ 30,720 $ 895 *24 District Engineer $ 3,975 $ 6,814 $ 5,000 $ (1,814) $ 8,000 $ 3,000 Meeting Schedule Increased 25 Disclosure Report $ 4,000 $ 4,000 $ 4,000 $ - $ 4,000 $ - 26 Trustees Fees $ - $ 3,500 $ 3,500 $ - $ 3,500 $ - 27 Assessment Roll $ 5,250 $ 5,250 $ 5,250 $ - $ 5,408 $ 158 *28 Financial & Revenue Collections $ 3,063 $ 5,250 $ 5,250 $ - $ 5,408 $ 158 *29 Accounting Services $ 10,500 $ 18,000 $ 18,000 $ - $ 18,540 $ 540 *30 Auditing Services $ 4,000 $ 4,500 $ 4,500 $ - $ 4,700 $ 200 Based on Current Agreement31 Arbitrage Rebate Calculation $ 500 $ 500 $ 500 $ - $ 500 $ - 32 Public Officials Liability Insurance $ 2,314 $ 2,314 $ 2,371 $ 57 $ 2,545 $ 174 Based on Estimate Provided33 Miscellaneous Fees $ - $ 850 $ 1,000 $ 150 $ 1,000 $ - Mailed Notice?

34 Legal Advertising $ 1,312 $ 2,249 $ 1,500 $ (749) $ 3,500 $ 2,000

Proposed to Include Additional Meeting Notices

35 Dues, Licenses & Fees $ 175 $ 175 $ 175 $ - $ 175 $ - 36 Website Hosting, Maintenance, Backup $ 1,084 $ 3,700 $ 3,700 $ - $ 3,700 $ - 37 Legal Counsel38 District Counsel $ 12,863 $ 22,051 $ 20,000 $ (2,051) $ 20,000 $ - 4% Annual Hourly Increase3940 Administrative Subtotal $ 70,951 $ 120,578 $ 113,571 $ (7,007) $ 128,846 $ 15,2754142 EXPENDITURES - FIELD OPERATIONS4344 Electric Utility Services45 Utility Services $ 6,837 $ 13,721 $ 14,000 $ 279 $ 14,000 $ - 46 Street Lights $ 6,475 $ 11,100 $ 11,000 $ (100) $ 11,000 $ - 47 Gas Utility Services48 Utility - Recreation Facilities $ - $ 1,200 $ 1,500 $ 300 $ 1,500 $ - 49 Garbage/Solid Waste Control Services50 Garbage - Recreation Facility $ 534 $ 1,245 $ 1,500 $ 255 $ 1,500 $ - 51 Water-Sewer Combination Services52 Utility Services $ 4,017 $ 8,886 $ 9,000 $ 114 $ 9,000 $ -

Proposed BudgetRiver Glen Community Development District

General FundFiscal Year 2020/2021

10

Shrubs, Trees

Rep

Chart of Accounts Classification

ai

Actual YTD through 04/30/20


2019/2020

Annual Budget

for 2019/2020

Projected Budget

variance for

2019/2020


Budget Increase

(Decrease) vs

2019/2020

Comments

53

r

Stormwater Control54 Aquatic Maintenance $ 3,051 $ 5,340 $ 5,500 $ 160 $ 5,500 $ - 55 Other Physical Environment

56 General Liability/Property Insurance $ 16,020 $ 16,020 $ 15,820 $ (200) $ 17,622 $ 1,802 Based on Estimate Provided

57 Entry & Walls Maintenance $ 8,661 $ 8,913 $ 6,000 $ (2,913) $ 8,000 $ 2,000 To Include Pressure Washing

Based on Estimated

58 Landscape & Irrigation Maintenance $ 35,818 $ 60,021 $ 64,872 $ 4,851 $ 98,801 $ 33,929Provided for Requested Scope of Services Increase

59 Irrigation Repairs $ 750 $ 5,000 $ 5,700 $ 700 $ 5,000 $ (700) 60 Landscape Replacement Plants, $ - $ 10,000 $ 10,000 $ - $ 10,000 $ - 61 Field Services $ 4,900 $ 8,400 $ 8,400 $ - $ 8,400 $ -

62 Miscellaneous Expense $ - $ 3,000 $ 3,000 $ - $ 3,000 $ - Top Choice For Fire Ants FY 19/20?

63 Road & Street Facilities

64 Parking Lot/Roadway Repair & Maintenance $ 3,959 $ 3,959 $ 3,000 $ (959) $ 3,000 $ -

FY 2019/20 Included Road Re-Striping

65 Parks & Recreation66 Amenity Management Staffing Contract $ 15,120 $ 29,423 $ 30,000 $ 577 $ 30,000 $ -

67 Amenity Maintenance Contract & Repairs $ 6,949 $ 11,913 $ 13,225 $ 1,312 $ 17,225 $ 4,000

Proposed to Include Approximately $10,000 for Repairs & Increased $4000 for Pressure Washing. Interior Painting FY 20/21?

68 Amenity Supplies & Equipment $ 900 $ 1,543 $ 1,500 $ (43) $ 2,000 $ 500

Increased to Include

69 Amenity Janitorial Services Contract & Supplies $ 4,181 $ 7,167 $ 5,900 $ (1,267) $ 7,200 $ 1,300

Approximately $2300 in Janitorial Supplies

70 Pool Service Contract & Chemicals $ 14,062 $ 20,265 $ 21,000 $ 735 $ 21,000 $ - Includes Approximately $12000 in Chemicals

71 Pest Control & Termite Bond $ - $ 699 $ 699 $ - $ 699 $ -

72 Access Control/ Security Camera Maintenance & Repair $ 450 $ 771 $ 2,500 $ 1,729 $ 2,500 $ -

73 Fitness Equipment Maintenance & $ 754 $ 1,293 $ 3,000 $ 1,707 $ 3,000 $ - Includes PM Agreement 74 Cable, Telephone , Internet $ 1,700 $ 2,917 $ 2,700 $ (217) $ 3,000 $ 30075 Athletic/Park Court/Field Repairs $ 670 $ 1,149 $ 2,250 $ 1,101 $ 2,250 $ - Signage 76 Miscellaneous Expense $ 748 $ 5,300 $ 5,300 $ - $ 5,300 $ - 77 Special Events78 Special Events $ - $ 2,000 $ 2,000 $ - $ 2,000 $ - 79 Contingency



11

Contingency for County TRIM Notice

E

Chart of Accounts ClassificationActual YTD

through 04/30/20


2019/2020

Annual Budget

for 2019/2020

Projected Budget

variance for

2019/2020


Budget Increase

(Decrease) vs

2019/2020

Comments

XPENDITURES

FY 2019/20 Included ADA Website Migration, Fence Reconfiguration, Pool Deck Drain, Storm Pipe Repair. Proposed to Possibly Include for FY 20/21 Fitness Equipment Lease, Fitness Room Flooring Flooring, Pool Equipment Upgrades, Additional Chaise Lounges

80 Miscellaneous Contingency $ 17,338 $ 29,722 $ 29,800 $ 78 $ 30,000 $ 200 or Reserve Study. 8182 Field Operations Subtotal $ 153,894 $ 270,967 $ 279,166 $ 8,199 $ 322,497 $ 43,33183848485 TOTAL EXPENDITURES $ 224,845 $ 391,545 $ 392,737 $ 1,192 $ 451,343 $ 58,6068687 EXCESS OF REVENUES OVER $ 81,953 $ 3,125 $ - $ 3,125 $ - $ - 88



12

EXPENDITURES

Chart of Accounts Classification

Actual YTD

through 04/30/20


2019/2020

Annual Budget for 2019/2020

Projected Budget

variance for

2019/2020


Budget Increase (Decrease) vs

2019/2020Comments

12 REVENUES34 Special Assessments

5 Tax Roll* $ 5,400 $ 5,400 $ 5,400 $ - $ 5,400 $ -To Be Updated Prior To Public Hearing

6 Off Roll* $ - $ - $ - $ - $ - $ -7 Other Miscellaneous Revenues

8 Transfers from SPE $ - $ 9,600 $ 9,600 $ - $ 9,600 $ -To Be Updated Prior To Public Hearing

910 TOTAL REVENUES $ 5,400 $ 15,000 $ 15,000 $ - $ 15,000 $ -1112 Balance Forward from Prior Year $ - $ - $ - $ - $ - $ -13

14 TOTAL REVENUES AND BALANCE FORWARD $ 5,400 $ 15,000 $ 15,000 $ - $ 15,000 $ -

1516 *Allocation of assessments between the Tax Roll and Off Roll are estimates only and subject to change prior to1718 EXPENDITURES 1920 Contingency21 Capital Reserves $ - $ - $ 15,000 $ 15,000 $ 15,000 $ -2223 TOTAL EXPENDITURES $ - $ - $ 15,000 $ 15,000 $ 15,000 $ -2425 EXCESS OF REVENUES OVER $ 5,400 $ 15,000 $ - $ 15,000 $ - $ -26


Reserve FundFiscal Year 2020-2021

13

Budget TemplateRiver Glen Community Development District

Debt ServiceFiscal Year 2020/2021

Chart of Accounts Classification Series 2006A Budget for 2020/2021

REVENUES Special Assessments

Net Special Assessments (1) (2) (3) $210,847.73 $210,847.73

TOTAL REVENUES $210,847.73 $210,847.73

EXPENDITURES AdministrativeFinancial & Administrative

Debt Service Obligation $210,847.73 $210,847.73Administrative Subtotal $210,847.73 $210,847.73

TOTAL EXPENDITURES $210,847.73 $210,847.73

EXCESS OF REVENUES OVER EXPENDITU $0.00 $0.00

Nassau County Collection Costs (3%) and Early Payment Discounts (4 7.0%

Gross assessments $226,717.99

RES

%):

Notes:Tax Roll Collection Costs for Nassau County are 7.0% of Tax Roll. Budgeted net of tax roll See Assessment Table.

(1) Maximum Annual Debt Service less Prepaid Assessments received.(2) Certain debt has been removed to reflect transfer of ownership to SPE.(3) Some lots have had the Series 2006A debt partially prepaid.

14

2020/2021 O&M Budget $466,343.00Collection Cost 3% $15,043.32Early Payment Discount 4% $20,057.762020/2021 Total: 7% $501,444.09

2019/2020 O&M Budget $407,737.002020/2021

Total Difference:

O&M Budget $466,343.00

$58,606.00

PER UNIT ANNUAL ASSESSMENT Proposed Increase / Decrease2019/2020 2020/2021 $ %

Debt Service - Single Family 50 $1,016.66 $1,016.66 $0.00 0.00%Operations/Maintenance $673.47 $770.27 $96.80 14.37%Total $1,690.13 $1,786.93 $96.80 5.73%

* Debt Service - Single Family 50(P) $513.18 $513.18 $0.00 0.00%Operations/Maintenance $673.47 $770.27 $96.80 14.37%Total $1,186.65 $1,283.45 $96.80 8.16%







* Note: Some lots have had the Series 2006A debt partially prepaid.


FISCAL YEAR 2020/2021 O&M & DEBT SERVICE ASSESSMENT SCHEDULE

15

TOTAL O&M BUDGET $466,343.00COLLECTION COSTS 3.0% $15,043.32EARLY PAYMENT DISCOUNT 4.0% $20,057.76TOTAL O&M ASSESSMENT 7% $501,444.09

TOTALALLOCATION OF O&M

TOTALASSESSMENT

% TOTAL TOTALSERIES 2006ADEBT SERVICE

EAU FACTOR (4) EAU's EAU's O&M BUDGET ASSESSMENT

1.00 20.00 3.07% $15,405.35 $19,316.541.00 15.00 2.30% $11,554.01 $7,697.701.00 74.00 11.37% $56,999.79 $78,281.701.00 26.00 3.99% $20,026.95 $14,677.261.00 68.00 10.45% $52,378.18 $80,519.341.00 29.00 4.45% $22,337.75 $17,859.651.00 3.00 0.46% $2,310.80 $4,269.931.00 1.00 0.15% $770.27 $718.44

$223,340.56

$844.71 (1)1.00

236.00

120.00

36.25%

18.43%

$181,783.11

$92,432.091.00 80.00 12.29% $61,621.39 $619.45 (1)

1.00 146.00 22.43% $112,459.04 $1,233.28 (1)

1.00 69.00 10.60% $53,148.45 $679.99

$3,377.43

$226,717.99

(1)

415.00

651.00

63.75%

100.00%

$319,660.98

$501,444.09

UNITS ASSESSEDSERIES 2006A

DEBTLOT SIZE O&M (1) (2)SERVICE

Platted Parcels PPSINGLE FAMILY 50 20 19 1

SINGLE FAMILY 50(P) 15 15SINGLE FAMILY 55 74 70 3

SINGLE FAMILY 55(P) 26 26SINGLE FAMILY 60 68 66 2

SINGLE FAMILY 60(P) 29 29SINGLE FAMILY 70 3 3

SINGLE FAMILY 70(P) 1 1

Total Platted 236 229 6

Unplatted ParcelsSINGLE FAMILY 50 120 0SINGLE FAMILY 55 80 0SINGLE FAMILY 60 146 0SINGLE FAMILY 70 69 0

Total Unplatted

Total Community

415 0

229651

PER LOT ANNUAL ASSESSMENT2006A DEBT

(5)O&M (3)SERVICE (4)TOTAL

0 0 0$770.27 $1,016.66 $1,786.93$770.27 $513.18 $1,283.45$770.27 $1,118.31 $1,888.58$770.27 $564.51 $1,334.78$770.27 $1,219.99 $1,990.26$770.27 $615.85 $1,386.12$770.27 $1,423.31 $2,193.58$770.27 $718.44 $1,488.71

$770.27 $0.00 $770.27$770.27 $0.00 $770.27$770.27 $0.00 $770.27$770.27 $0.00 $770.27

LU0

5050.P55

55.P60

60.P70

70.P

50556070

LESS: Nassau County Collection Costs (3%) and Early Payment Discounts (4%):

Net Revenue to be Collected

($35,101.09) ($15,870.26)

$466,343.00 $210,847.73

PER ACRE ASSESSMENTS - UNPLATTED

O&M DEBT TOTAL

$317,447.67 $0.00 $1,409.75 $0.00 $1,409.75$2,213.31 $3,377.43 $1,409.75 $2,151.23 $3,560.98

UNPLAT BY ACREAGE 225.18 0.00

UNPLAT BY ACREAGE 1.57 1.57

226.75

99.31%0.69%

100.00%

(1) Reflects the number of total lots with Series 2006A debt outstanding. Certain lots have been removed to reflect transfer of ownership to SPE. 1.57 Acres of the unplatted lands have debt remaining.

(2) Some lots have had the Series 2006A debt partially prepaid.

(3) Adi

nsncuoauln dtse.bt service assessment per lot adopted in connection with the Series 2006A bond issue. Annual assessment includes principal, interest, Nassau County collection costs and early payment

Annual assessment that will appear on November 2020 Nassau County property tax bill. Amount shown includes all applicable collection costs and early payment discounts (up to 4% if paid early).(4)

\(5) Note this assessment table reflects an equal per unit O&M assessment approved by the Board of Supervisors.


FISCAL YEAR 2020/2021 O&M AND DEBT SERVICE ASSESSMENT SCHEDULE

16

Discussion Regarding Re-opening of

Amenities Due to COVID-19

SUPERVISOR REQUESTS

ADJOURNMENT

river glen community development district · 5/21/2020 · river glen . community development...

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