June 19, 2025 Board of Supervisors Viera East Community Development District Dear Board Members: The Board of Supervisors of the Viera East Community Development District will meet Thursday, June 26, 2025, at 6:30 p.m. at the Faith Viera Lutheran Church, 5550 Faith Drive, Viera, FL. 1. Roll Call 2. Pledge of Allegiance 3. Public Comment Period 4. Approval of Minutes of the May 22, 2025 Board of Supervisors Meeting 5. New Business A. Budget/Rules Rates Workshop i. Discussion of Fiscal Year 2026 Budget- General Fund and Golf Course ii. Discussion of Fiscal Year 2026 Rules and Rates B. Presentation of Fiscal Year 2024 Financial Audit C. Presentation of Reserve Study 6. Old Business A. Action Items List 7. Staff Reports A. General Manager’s Report i. Consideration of Pavement Maintenance Proposal ii. Consideration of Mill and Pave Proposal B. District Manager’s Report C. Lifestyle/ Marketing Report 8. Treasurer’s Report A. Approval of Check Register B. Balance Sheet and Income Statements 9. Supervisor’s Requests 10. Adjournment MINUTES OF MEETING VIERA EAST COMMUNITY DEVELOPMENT DISTRICT The regular meeting of the Board of Supervisors of the Viera East Community Development District was held on Thursday, May 22, 2025 at 6:30 p.m. at Faith Lutheran Church, 5550 Faith Drive, Viera, Florida. Present and constituting a quorum were: Jennifer DeVries by phone Chairperson Rob Dale Vice Chairman Bill Macheras by phone Treasurer Ron Rysztogi Assistant Secretary Denise Yelvington Assistant Secretary Also present were: Jason Showe District Manager Jeremy LeBrun GMS Jim Moller Golf Maintenance Superintendent Jenn Worshel Hook & Eagle Michelle Webb Lifestyle/Marketing Director Residents FIRST ORDER OF BUSINESS Roll Call Mr. Showe called the meeting to order at 6:30 p.m. All Supervisors were present. SECOND ORDER OF BUSINESS Pledge of Allegiance The Pledge of Allegiance was recited. THIRD ORDER OF BUSINESS Public Comment Period Mr. Showe: The next item is the public comment period. We have three Request to Speak Forms, which we'll take in the order that I've just picked them up. We will ask you to keep your comments to three minutes and state your name and address before you speak, so we can make sure we get it on the recording properly. This is not necessarily a question-and-answer session. This is more a chance for you guys to take that three minutes and say what you want. The Board can choose on its own to either respond to it or not. With that we will go in order and start with Ms. Janet Eggerton. Mr. Dale: I will just add, we probably won’t respond, whatever the issue is. I don’t want you guys to take offense at any of that. We just have a full agenda for tonight and during the course of the meeting, if Board Members have additional follow-up questions, they will be able to do that during the course of the meeting. Resident (Jeanette Egerton, Morning Glory Drive): That’s fine. I understand. We didn't expect that. We just wanted to hand this out. I'm Jeanette Egerton. I live at 1725 Morning Glory Drive, Melbourne, Florida. I handed out some information about the benefits of having a fountain and what we are requesting on behalf of the Hammock Trace community, which is to put a fountain over here like at Fawn Ridge. I saw it today and it is absolutely beautiful. The oxygenation as you know, the water circulation, algae control, I've never complained before, but last year I called into the office several times for algae growth that had grown so big. You guys were very responsive and came out immediately. They put in chemicals, but the next week they came and put in more chemicals and it finally dissipated, like after like two or three treatments, but it had taken over, because it was growing so much that it was taking over the water. The oxygenation and water circulation, including the visual appeal, would definitely be a plus for our community. So, we got some signatures and Pat, who is probably on your next Request to Speak Form, has helped tremendously, to get a bunch of signatures to represent our community. We didn’t know if that would help in making our case or not. So, that’s all I’m here for. Thank you. Mr. Showe: Next up, we have Mr. Patrick French. Resident (Patrick French, Hammock Trace Drive): I live in Hammock Trace. We are trying to get a fountain. The one lady, I forgot her name, the one that couldn’t see her fountain built. Mr. Dale: Marianne. Resident Patrick French, Hammock Trace Drive): I was very sad to hear about her passing, but she’s watching from up above. Mr. Dale: She is. Resident Patrick French, Hammock Trace Drive): I’m just reiterating what Jeanette said. I got 35 signatures. If you give a Marine a job, you're going to get it done. I can get a lot more if you need them. But I just want to reiterate, I appreciate your consideration for that fountain for us. I just want to say also, the last four years since you guys have taken over, it is like night and day, as part of this community. It's unbelievable and I'm very happy and a lot of people are happy with what you guys have done. I'm not kissing you know what, I'm just telling you how it is. That's what I do. Mr. Dale: I appreciate it. Resident (Patrick French, Hammock Trace Drive): Like I said, I can get signatures and whatever else, but we appreciate you guys just taking a look at it and if you can help us out, it would be nice. That's it. I appreciate it. Mr. Dale: Thank you. On behalf of the Board, as the person running the meeting tonight, that is a team effort and the Board thanks you for your comments. Resident (Patrick French, Hammock Trace Drive): I understand completely. Thank you very much. Mr. Dale: Thanks. Mr. Showe: The last one that we have is from Ms. Terry Mott. Resident (Terry Mott, Wexford Drive): I'm Terry from The Villages, 4899 Wexford Drive. I’m here to give you an update from the last meeting, when you approved our training education program. I’ve been working with Mr. Moller and I drafted out an agenda and have copies for you. That's just the proposal to see what you like. The date we selected was Saturday, October 18th. I already reserved Clubhouse Park, which is what Mr. Tom Jarris wanted. That's the agenda. I have speakers lined up already and everything is taken care of. The only glitch so far, is that the policy for the Viera East Community Association (VECA) is not to rent that park to the Viera East CDD. So, I had to put it in my name. I'll work it out with the VECA Board. But other than that, everything's set to go. We have speakers. I have a nonprofit that we can use to try to help get money donated for the food. So that's it. Thanks. Oh, and I second what they said. I've been here for 23 years and you're the best ever. You’re not even in the same category as the rest. Also, we have the same quality of leadership at the county level. Now is the time for all of us to get everything done and I'm working with the county to do other projects. But it's just amazing. So, thank you all for your leadership. Mr. Dale: Thank you, Terry Ms. Yelvington: Can I ask a question? Mr. Dale: Yeah. Ms. Yelvington: How will you communicate this to the HOA Boards? Resident (Terry Mott, Wexford Drive): I'm going to go to every Board personally and ask them, because this is a ground up education and training program. We want the individual HOAs to be responsible for assessing the ponds that are in their area and we have a training program to put volunteers through that. So, that's what we're trying to do. We established two volunteer positions, preferably one would be on the Board. There would be an additional duty called a Stormwater Manager. That person would be responsible for accepting the forms for approval. Just like your front yard has to go through an approval process, the backyard would have to do the same thing. The form would go from the individual HOAs, to Mr. Moller and then we would find out whatever type of restoration they want for that pond, would be approved by the St. John's River Water Management District. It’s not much work, but it's somebody overseeing the management and the form. I got a sample form. The Board would put in a similar form to the Architectural Review Board, only you would state what type of restoration you'd want for that particular pond. Because Mr. Pete Carnesale had said, “We want to be sure and will let the HOAs decide what type of restoration.” There are several different types, which this training program will show. But we want the individual HOAs to be able to select the type of restoration that they want for the pond in their area. But we would have to go through an approval process. So that's what that is. Then the other volunteer would be the worker bee, who actually goes out and does pond water testing and pond assessment. Those assessments would be done, whenever Jim decided how often they would be done. But we would put those people through a training program called the Florida Master Naturalist Program. The UF IFAS is willing to come down and do a special workshop just for us, as long as we can get 15 people there. The total cost is $249 per person, but that's nothing. You get a fantastic manual on how ponds are supposed to be maintained. You'll get all the best management practices in that manual for the $249. The workshop would go over a couple of weekends, but they're going to do a special one just for us in our area. So that's already on board. All we need to do is come up with 15 people. The target is to get two volunteers per HOA, which is a very simple process, but we get the residents educated, get the management practices and get these ponds restored so they're no longer a health and welfare issue for this community. Mr. Dale: Okay, Terry, I just want for clarification purposes, just to make sure we're all on the same sheet of music. Number one, I love the enthusiasm. Resident (Terry Mott, Wexford Drive): Thank you. Mr. Dale: I appreciate that. If you can get the HOAs to participate, you're going to be another level in my book, because that was the first thing we tried to do, when we first took over. We wanted all of the HOAs to come once or twice a year, but only had two people show up. One of them was Marianne, who Pat just shared and then the other one is now a Board Member who's with us by phone, which is Bill. It was real tough getting the HOAs to participate and stuff. So, if you can get that done, God bless you on that. I'm loving that. Resident (Terry Mott, Wexford Drive): Can I tell you why I’m not worried? Mr. Dale: Well, let me get to the main point that I just want to clarify, to make sure we're on the same sheet of music. The first issue that I want to make sure we're clear on, because I thought I may have misheard, I thought I heard the word “Committee” and stuff like that. All I'm saying, is anytime we're talking committee or subgroups, all of those kind of things, I want to make sure that you're working with Jason, real close, hand in hand, because anything that has the CDD stamp of approval, goes through the Sunshine and we can't have separate committees. Mr. Showe: It's not a committee of the CDD and this Board hasn't authorized it. It's a Resident Committee. Mr. Dale: Okay. Which is great. That's kind of the way I'm taking it. I just want to make sure we're on the same sheet of music. Resident (Terry Mott, Wexford Drive): I talked to Jim, about this, because there is an issue here that needs to be addressed. Because what we're technically creating, is a volunteer army for him. Mr. Dale: Right. Resident (Terry Mott, Wexford Drive): So, we've already discussed that. But these people would actually be under the individual HOAs and would be a part of the HOA. Mr. Dale: Gotcha. I'm not trying to take the wind out of your sails. I love the idea. I think it's great. Resident (Terry Mott, Wexford Drive): It's an important point. Mr. Dale: Right. Resident (Terry Mott, Wexford Drive): We are working on that, because I talked to Jim about it. I said, “You need to check with your people, because you're creating a channel, an army.” So, there is a connection there and you're right, we are working on that. Mr. Dale: Okay. Then the only other point that I just want to clarify, which does not mean that this is going to be the way it is in the future, but to this date, the Board has approved no expenditures for anything. Resident (Terry Mott, Wexford Drive): I understand. Mr. Dale: So, I just want to make sure that we're clear on that. That doesn't mean there wouldn't be something in the future that we wouldn't do. As you know, we've already done a couple of littoral shelf plantings. Resident (Terry Mott, Wexford Drive): However, I do believe, unless you voided it, I do believe there was a $10,000 budget for stormwater education demonstration sites, a couple of years ago. Mr. Dale: It's in the budget, but we still have to approve the expenditure. Resident (Terry Mott, Wexford Drive): I put in here that we want to serve breakfast, pastries, juice and box lunch for 50 people. However, I'm working with a nonprofit to try to get you extra funds on that also. Mr. Dale: We're all good, as long as we're on the same sheet of music with that stuff. Man, I want it to work. Resident (Terry Mott, Wexford Drive): No, thank you. I'm not worried about the Boards and you might as well hear this now. Several years ago, I asked the prior Manager, “Aren't you worried about a lawsuit, because I have a legal background and this is not a good situation here.” Mr. Dale: Right. Resident (Terry Mott, Wexford Drive): The answer I got from the prior General Manager, was that he had asked the attorney if there was an issue with how we're maintaining our ponds and whether he thought there would be any type of legal liability there. Mr. Dale: Right. Resident (Terry Mott, Wexford Drive): The answer was that he couldn't find any cases on point, as he thought that everything was fine. Mr. Dale: Right. Resident (Terry Mott, Wexford Drive): Well, since then, there is a case on point that I'm going to bring up. So, this is now an issue. Mr. Dale: I understand the point and don't mean to cut you off, because I don't want to go too far into this. Resident (Terry Mott, Wexford Drive): I’m not worried, because when I present it to the Boards, I'm going to get a copy of the case. It's an Orlando case. Mr. Dale: Right. Resident (Terry Mott, Wexford Drive): When I present it to the Board, I'm going to tell you, come up with two volunteers or risk several thousand dollars for a lawsuit. Mr. Dale: Right. Resident (Terry Mott, Wexford Drive): So that's my answer. Mr. Dale: Right. Resident (Terry Mott, Wexford Drive): So, I'll see you later. Thank you very much. Mr. Dale: Thank you for your comments. Please make sure that Jason has all of your contact information. What you're talking about is something that is bigger in scope than this meeting. It's going to involve discussion. I'll be flat out, you're talking about a chunk of money, probably $30,000 for the fountain. As I understand there are some electrical challenges over on your neck of the woods. All I'm just saying is, if there are no challenges, we're talking at least $30,000 for the fountain, that kind of stuff. There's also an issue of whether that can fit into this year's budget or next year's budget, all of that kind of stuff. We also have to have a discussion about what type of fountains we're talking about. If we're talking algae growth, then you're not talking about a decorative fountain. You're talking more about the aerators that go into a lake that have the bigger effect. So, there's also the environmental impact stuff. So that's why I'm saying it's more than just a one up. Resident (Patrick French, Hammock Trace Drive): It was basically, God rest her soul, just like the one that Marianne had. Mr. Dale: Right. Well, and I know that's what you guys are looking for, but there was a combination of reasons why the Board chose to go that route with that one for that lake. We have to look at the main thing we're trying to accomplish. Resident (Patrick French, Hammock Trace Drive): You do have power. Mr. Dale: Right. Mr. Moller: The pool is right there. The brand-new boxes, all of that stuff is right there. Mr. Dale: Right, right. But I think kind of where we're probably going with this, is this is a workshop discussion. We have workshop meetings every two weeks or every other week. Resident (Patrick French, Hammock Trace Drive): Can I attend? Mr. Dale: You're perfectly welcome to attend, but we don't do like a Q and A or anything like that, at the workshops. But I'm going to be blunt. The bulk of the effective stuff happens outside of a meeting. So, that's why I want to make sure everybody has everybody's contact information. Mr. Moller: I just kind of wanted to be clear, too, on what the goal was. Was it lake health or was it decorative? Resident (Patrick French, Hammock Trace Drive): Both. Mr. Moller: A lot of the points were basically lake health and that can be done with diffusers. We're looking at $12,000 versus $40,000 for a fountain. So, that's the point that I think Rob is trying to get. Ms. Yelvington: Is the size of that lake smaller? Mr. Dale: Yes. Ms. Yelvington: It is much smaller. So, it would potentially need a smaller fountain, not as large of a fountain. Wouldn’t it? Mr. Dale: Potentially. So that's another part of it. Ms. Yelvington: I wanted to go over all of the options. Mr. Dale: Forgive the pun, because we're talking about lake health and algae growth, but I don't want to get into the weeds on that now. I'm sorry. That's it. Resident (Patrick French, Hammock Trace Drive): I want to say something. The first pond as you come in off of Wickham Road, on Murrell Road, is VECA’s pond, I guess. Mr. Dale: Right. Resident (Patrick French, Hammock Trace Drive): Next to where Unos used to be. Mr. Dale: Right. Resident (Patrick French, Hammock Trace Drive): That's a huge freaking fountain for a small pond. Ours is three times that big. Mr. Dale: Yeah. Resident (Patrick French, Hammock Trace Drive): We’re not asking for a big one. I just wanted a fountain. Mr. Dale: Keep in mind, I don't even know if that lake is in the CDD. You're talking about the decorative one by Uno that was purchased by The Viera Company. Resident (Patrick French, Hammock Trace Drive): That's a huge body of water. I get that. It’s beautiful. I'll be honest with you. It looks beautiful out there. Mr. Dale: Right. Resident (Patrick French, Hammock Trace Drive): I sat on a bench. It's just a good thing to see. We don't really want nothing fancy, but ours is about probably half that size. It doesn't have to be as big as that one. Mr. Dale: Right. Resident (Patrick French, Hammock Trace Drive): We’re just requesting it. Mr. Dale: No, I understand. I understand that. When we did that one, also there were other dynamics, because it's directly across from Woodside Park. Resident (Patrick French, Hammock Trace Drive): It’s lit up in different colors, but then it went away. I don’t know why. Mr. Moller: I need to change it. Resident (Patrick French, Hammock Trace Drive): You can do that. I can change colors for Christmas. I love Christmas. I decorate the front and back entrance. It looks good, but all we're asking is just to take a look at our stuff. Mr. Dale: Absolutely. Mr. Rysztogi: I would like to add something. I did give a presentation to the Board at the last meeting and the Board is aware of the location and your idea. I did do the presentation. Also, for the record, just so everything is clear, I am a Hammock Trace resident and I did sign that I am in favor of the fountain in my neighborhood as a resident. So, I just wanted to let you know. As a Board Member, I think I'm almost obligated to let you know that. Mr. Dale: Thanks, Ron. Resident (Jeanette Egerton, Morning Glory Drive): I'm not sure if you wanted the signatures. Mr. Showe: Yeah. I'll take those from you. Mr. Dale: Yeah. That does have some bearing. I'm not going to say it doesn't. Resident (Patrick French, Hammock Trace Drive): I appreciate you guys taking a look. I understand the money thing. We all do. Mr. Dale: Right. That’s why we're doing the balancing act right now. Mr. Rysztogi: I also know that Tom and people have been asking for this, prior to Fawn Ridge. So, this is not like a new thing. They saw Fawn Ridge, so now we have to have it. They have been asking for it for a number of years, as long as I lived there. Mr. Dale: Right. Resident (Jeanette Egerton, Morning Glory Drive): You can definitely tell the difference, because we walk a lot. We walk through all of the different neighborhoods and you can see the difference between the ponds that have the fountains, because the water is moving. They don't have as much algae. Mr. Dale: Not as much stagnation as what you're saying. Resident (Patrick French, Hammock Trace Drive): Exactly. Mr. Dale: I understand. The big dilemma that we're going to have in the discussion, is we literally have 84 lakes in the District. I know we're going to have a number of other entities, but you guys are here. So that's the discussion the Board's going to have to have at the workshop. Resident (Jeanette Egerton, Morning Glory Drive): You have to maintain them. Resident (Patrick French, Hammock Trace Drive): That’s a good question for you, though. I'm getting old. But bottom line is to save everybody money. I can still do things. I grew up here in Florida. Right here in Brevard County, before I joined the Marine Corps for 20 years. To save money for everybody, is there any way I can go through a class and be able to paddle out on my board and clean the filters? It's not rocket science. Mr. Dale: No. It's a discussion that we'll have. I don't want to speculate or get into the weeds on this one, but I understand where you're coming from. I think we also have to look at it from a liability perspective, too, like everything else. Believe me, I mean, we've gotten sued for the most incredible things that would just amaze you. You're a Marine and I love you and thank you for your service. Resident (Patrick French, Hammock Trace Drive): Exactly. But anyway, I'm just trying to save everyone money. It's not rocket science. It's a freaking filter and a pump. Not a big deal. But I'm sure when the thing's put in initially, the people that you bought the product from, probably the first year, they have to be there. It’s like an AC and we can go from there. Mr. Dale: Right. Resident (Patrick French, Hammock Trace Drive): I’m just trying to put that out there. Mr. Dale: Gotcha. Resident (Patrick French, Hammock Trace Drive): I'm thinking, I will still be pretty strong in 10 years. After that I'm probably out checking out a little bit. I'm just saying that. Do you know what I’m saying? Mr. Moller: We can put you on part-time employment. Mr. Showe: Having you as part-time employee would be cheaper, but the District would have to get Workers Compensation liability for volunteers. Resident (Patrick French, Hammock Trace Drive): I don't need that. Mr. Showe: We would require it. Mr. Moller: The easiest route, if you really want to do it, is to hire you on a minimal hour part-time basis. Resident (Patrick French, Hammock Trace Drive): I’ll do it for $1 per day. Mr. Dale: We appreciate it, Pat. Resident (Patrick French, Hammock Trace Drive): I don’t need money, but if that's what it takes, I can get pennies on the dollar and go out there and do my little thing. I enjoy water very much. I grew up here. Mr. Rysztogi: How many signatures did you get? Resident (Patrick French, Hammock Trace Drive): 35 in two days. Mr. Rysztogi: You've been working. Resident (Patrick French, Hammock Trace Drive): They all know me. I've been here 25 years. I lived there all my life. Mr. Dale: Pat, we will be in touch, I promise you. (Resident (Patrick French, Hammock Trace Drive): I'm trying to sell this. Mr. Dale: I know what you're doing. Resident (Patrick French, Hammock Trace Drive): I know you guys work hard, but I'm pitching just for our little District. Mr. Dale: I hear you, brother. Resident (Patrick French, Hammock Trace Drive): I'm not going to lie to you, but any way I can save money on both sides, I'll do whatever it takes. If you have to give me a dollar every time I go up and do the little paddle outboard crap, I'll take the dollar. Sir, you're a lawyer. Mr. Showe: I'm not a lawyer. Resident (Patrick French, Hammock Trace Drive): That sounds about right. As long as you pay me something, I don't really care. Mr. Dale: Alright, guys, we’re going to move on. FOURTH ORDER OF BUSINESS Approval of Minutes of the April 24, 2025 Board of Supervisors Meeting Mr. Dale: We're going to move on to approval of the minutes from the last meeting. Mr. Showe: Those minutes are included as part of your agenda package. We can take any corrections or changes at this time or take a motion to approve. Ms. Yelvington: Can we make a couple of just quick typos, error changes? Mr. Showe: Certainly. Ms. Yelvington: There are a couple of places. Page 9 was one, that I noticed where “Littoral Shelf” was “Literal Shelf” in a few places in this document. Can they just do a spell check for “Literal Shelf” and correct that? Mr. Showe: Yeah. Ms. Yelvington: Thank you. Mr. Showe: Are there any other comments? Mr. Dale: Actually, it's funny because that always kind of drove me nuts too. On MOTION by Ms. Yelvington seconded by Mr. Rysztogi with all in favor the Minutes of the April 24, 2025 Board of Supervisors Meeting were approved as amended. FIFTH ORDER OF BUSINESS New Business A. Consideration of Resolution 2025-02 Approving the Fiscal Year 2026 Proposed Budget and Setting Public Hearing to Adopt Mr. Showe: The next item is the start of our Fiscal Year 2025 budget process. We presented to you Resolution 2025-02. This resolution does several items for the Board. First, it approves a Proposed Budget, which will be attached as Exhibit A. We've included a draft for you and that will include any changes that the Board would like to make tonight. It also sets a public hearing, which is August 28th, your regular August meeting here at 6:30 p.m. It also directs us to transmit this to the local governments as well as place it on our website, which is in accordance with Florida Statutes. To kind of prep some folks, we go through this budget process once a year. This first step is really more about making sure that you don't make any adjustments to your assessment levels. That's really the mechanical thing, thing you're doing tonight. We have several workshops set up over the next few months between now and August, to refine the budget and kind of put all of the line items where you want it. But it's more about setting the assessment levels for now. We built this budget with no assessment increases. So, it is the same assessments that were assessed last year. We feel like we have enough funding in all the places, to really accommodate the goals of the Board that we've had over the last few years, without any impact on service. Mr. Dale: Jason, I would like to ask you just for the minutes, a real quick question. There was a nasty accusation made, a few times that I've heard this week, that the $100 CDD tax, we could have reduced two years ago, that we were using to build up our reserves, just disappeared, which is not the case. But I was wondering if you could share with me where the reserves were four years ago and where they are right now. Mr. Showe: Sure. I’ll look at the 2022 reserves. Mr. Dale: I know there's also the issue that we've talked about at previous meetings, that we have to get cycle through this year. But essentially the profit from the previous year, still has not been deposited. Mr. Showe: Correct. Your Capital Reserve Fund in your adopted Fiscal Year 2022 budget, started at $315,696. Mr. Dale: Okay, so that was 2022. What about 2021? Mr. Showe: 2021 started with $229,000. Mr. Dale: $229,000 is really our starting point. Mr. Showe: For reference, this budget would start you in 2026 with $1.398 million. Mr. Dale: Right. So, a little over a million dollars in the past year. To your knowledge, any of the tax money that has been collected from CDD taxes, I'm not talking about golf course profit money, but from CDD taxes, has that been spent on anything other than the CDD? Mr. Showe: No. Mr. Dale: Okay, thank you. Mr. Showe: Certainly, when we do a budget, we try to be as conservative as we can. We're using expenses from April of this year, to project out through October of next year. So, you may see some of these numbers adjust between now and then. But again, I think we've got enough to accommodate it all. Also, behind all of those, we do a line-item detail, where we detail each single account line. In the cases where there are contracts or other items, we try to detail those out as much as possible as well. So, it's really clear to residents. Page 9 of the budget includes your Capital Reserve Fund. Right now, we're projecting, like I said, almost $1.4 million at the end of the year, which is split between the Golf Course and General Funds. The Golf Course Fund has over $800,000 and the General Fund has about $600,000. Then there is your Debt Service Fund, for Series 2020. We've still separated the Hook & Eagle. We just wanted to show those separately for now, but anticipate by you final budget, it will be integrated, similar to how we do the regular financials. We just thought that since it was done that way last year, it may be easier to compare the two back and forth while we're working through the budget. Mr. Dale: Gotcha. Again, just for a point of clarification, the General Services Fund is where the CDD tax money goes. Correct? Mr. Showe: Correct. The CDD assessment goes there. The recreation assessment gets split between essentially the recreation debt service, which is still remaining and then a small portion that goes into the General Fund, for park maintenance. Mr. Dale: Right. Mr. Showe: But none of that recreation assessment at this point is really allocated towards any golf course funding. Mr. Dale: Right. But at the end of the year, the expectation is we'll have somewhere around $1.5 million. Okay, thank you. Mr. Showe: Again, in the golf course, we've tried to adjust both restaurants and golf course for budgeting purposes for now. We've profited or basically leveled out assessments or revenues. That's kind of what we do for the budget process. Then we let Jim kind of work his magic on the expense side, to bring the profits and increased revenues. It's also important to point out, that this is the last year for your recreation debt service. So, May 1st of 2026 will be the last recreation debt service payment and approximately $558,000 a year will go away. Ms. Yelvington: Does that happen within this next year that we'd be budgeting for. Mr. Showe: Yes. We still have one more payment left and then that portion of your recreation debt should drop off of your assessment as well. Mr. Dale: What was that amount again? Mr. Showe: It's approximately $550,000, but that's the $129 assessment for recreation. So, that would get reduced by that amount. Mr. Dale: If you're talking about the average homeowner, not a business or anything like that, I believe the homeowner assessment is somewhere around $508. Mr. Showe: Its $504. Mr. Dale: Okay. We're talking roughly how much of a decrease? Mr. Showe: It should drop off approximately another $100. Mr. Dale: Another $100 or so is what we're talking about. Okay. Then we also have to weigh that against inflation, emergency reserves, that kind of stuff. The reason why that's such an issue, is it cost us a $250,000 to repair two culverts. Mr. Showe: That's why you guys have done the hard work to make sure you build up reserves for those big expenses when the time comes. Mr. Dale: Right. We'll deal with that when the time comes. Mr. Showe: So again, we typically don't go through line item by line item at this stage. We really reserve that for the workshops that we anticipate having over the next several meetings. Again, we built this with no assessment increase and you're setting the ceiling at this meeting. So, I think if the Board's comfortable with that, we would just recommend approval of the resolution as presented and then we can use the next several workshops to refine those lines. Mr. Dale: Would that be for this August meeting or would it be the year after, where we would have one of those meetings where we have to send out the legalese statement that says that we're not raising fees? Mr. Showe: That's only if you chose to increase the General Fund. So, even when the debt service goes away, if you raise the General Fund by even $10, you have to send out that mailed notice. That's what is required by law. Mr. Dale: But you know what I'm talking about. We didn't raise anything when we did that. I see what you're saying. So, if it's going to drop off $100 and we don't allow that $100 to drop off, that's when we would have to have that mailing. Mr. Showe: Correct. Mr. Dale: Okay. That would be for this August. Mr. Showe: No, it would be in 2027. Mr. Dale: That we would have that discussion. Okay. Mr. Showe: If there's no assessment increase, no notice is required. Mr. Dale: Okay. Alright. Mr. Showe: It's only if you're increasing those portions. Mr. Dale: Okay. Mr. Showe: Individually. Mr. Dale: Got it. Mr. Showe: Even if one is decreasing. Mr. Dale: Got it. Mr. Showe: It's the same rules that the county follows. So, that's why you get the trim notice. It kind of gives you those details and when the public hearing is, that you can come and talk to the Board. Mr. Dale: Okay. I think it's all going to come down to our Reserve Study that we did, which shows what we're going to need. Mr. Showe: Yeah. Mr. Dale: Let's move on to Old Business. Mr. Showe: We need a motion to approve the resolution. On MOTION by Ms. Yelvington seconded by Mr. Rysztogi with all in favor Resolution 2025-02 Approving the Proposed Fiscal Year 2026 Budget and Setting a Public Hearing for August 28, 2025 at 7:00 p.m. at this location was approved. Mr. Showe: So, we'll get that posted to the website and will continue to work on it. I know we're going to have some meetings that are going to be a challenge with a quorum over the next few weeks. So, what we can do, is we'll still circulate it and just provide us any questions or comments you have. Again, the General Fund is typically not really all that controversial. It's the golf course where we get into a lot of discussions and we have several workshops set specifically for that. SIXTH ORDER OF BUSINESS Old Business A. Action Items List Mr. Showe: Next is our Action Items List. We are still just tracking a couple of items. I have not had a response from the Viera East Golf District Association about the withdrawal. So, we're just keeping that pending there. I think Jim is still working on any park improvements as well as the resurfacing. Mr. Moller: Yeah, I actually had it in mind. They sent me the updated proposal and the link is a dead end. So, I contacted them. They're trying to work on it. I don't have the updated proposal yet. Mr. Showe: That's all that I have for Old Business. So, we can go to Jim’s report. SEVENTH ORDER OF BUSINESS Staff Reports A. General Manager’s Report Mr. Moller: Okay. I will start with the CDD. We're kind of still a man down. Right now, we have two full-time and one part-time employee. We’re trying to find a temporary replacement for Will but had no luck as a yet. Mr. Dale: Did we do an Indeed ad? Is there something that I can forward to Indeed? Mr. Moller: I’ve done Indeed before. I've always had the best luck for maintenance positions on Craigslist, to be honest with you. Mr. Dale: Okay. Mr. Moller: I had inquiries for the golf course, but nothing for the CDD maintenance. Mr. Dale: Is it something that you can send to me? Mr. Moller: Yeah, I can forward the job description. Mr. Dale: Yeah, send it to me, because I'll post it on my page. Mr. Moller: Wes and I had conversations if there was anyone on the golf maintenance crew that wanted to slide over. Mr. Dale: Right. Mr. Moller: Since it's easier to hire. Mr. Dale: Right. Mr. Moller: So, we're looking at that as well. Mr. Dale: Yeah. I know a few people that might be interested. Mr. Moller: But speaking of park improvements, Pete's got some improvements going on at the Clubhouse right now, for storage and whatnot. We walked the park a couple weeks ago and once he's done with the improvements at the Clubhouse, we're going to tackle the doghouses. Some of the wood is starting to rot. There are some nails rusting out that are pooling. So, we're going to go through, give all of the wood features on the dog park, a facelift. I know the one broken rail on the small dog park was repaired and replaced, but we want to secure the bottom of all the fences, to try to keep the little and big dogs from burrowing under. So, we're trying to come up with some cost-effective ideas to put barriers, because even just the single rail on the bottom of the fence, doesn't seem to stop the little ones. So, we almost need to try to figure out if we can bury some kind of barrier to keep them out. The most cost-effective way was to install a metal landscape edging. We're just afraid of dogs getting cut. Mr. Dale: Right. I've seen things done with PVC pipe and tying that into the fencing. Mr. Moller: Yeah. We talked about the 365, where we did the cart path repair. We're going to do it during the July aerification, which is the second week of July. Mr. Dale: Which cart path? Mr. Moller: The one going from 16 to 17 that's low. We're going to raise it up. Mr. Dale: Okay, gotcha. Mr. Moller: Speaking of aerification, our first aerification of the year is scheduled for the week of June 2nd. We're actually going to be building small diameter holes on the greens. The guys are also going to aerify the tees and get started on the fairways. Some Summer projects that we're going to be starting, is to do all of the transition areas from the cart path to the turf that are very jarring. There is a lot of uneven ground. So, we're going to get all of that. Mr. Dale: I noticed that this past Saturday. Mr. Moller: Yeah, we're going to get that all leveled out. We've identified some areas that tend to be wet during the rainy season. We’re going to add some drain lines in there to try to keep those areas dried up. Mr. Dale: On that issue, our marketer missed that. Can we make sure that she's tied in with the aerification date, so we can get that out to everybody? Mr. Moller: Yes. Mr. Dale: June 2nd is coming up real quick. It sounds like this is a bigger aerification. Mr. Moller: It’s still real small, but it's more than what we've done last year. Mr. Dale: Right. Mr. Moller: It's going to be a little disruptive, but the heal time should be less than a week. So, by the weekend the green should be fine. Mr. Dale: Okay. Mr. Moller: Regarding the financials, last April, our gross revenue for golf was $273,606. Last April, we were at $263,984. That was an increase of 4%. The expenses last April or this April, were $209,073, versus $190,566 last April, for an increase of 9%. So, our revenues went up 4% and our expenses went up 9%. Some of the reasons, I noticed our overall insurance went up about $3,000 compared to last April. Mr. Dale: What kind of insurance? Mr. Moller: Property insurance. There's an $8,000 difference in labor and golf course maintenance. I know we weren't understaffed and looking at last year's budget, it seemed that March was high, May was low and April was higher. I don't know if that's just the way the pay periods fell. There was an $8,000 difference in golf course maintenance. Then also this April, on the golf course maintenance equipment line item, there was a property tax that was hit. I think in years past, we spread it out 12 months. We didn't do it this year, but we’ll probably do that. Mr. Dale: So, it's a bookkeeping issue, is what you're saying. Mr. Moller: It's a one-time hit. Mr. Dale: Right. It made the month look worse than it should be. Mr. Moller: Yeah. Mr. Dale: How many thousand are we talking there? Mr. Moller: $8,000. For April food and beverage, gross revenue was $89,414. Last April, was $80,615. I totally forgot to do the percentages on those. Expenses this year were $39,453. Last April, it was $41,122. So, expenses went down and revenues went up. Mr. Dale: I think the percentage is 12%. Mr. Moller: Our cost of goods this April was $39,516 for a 44% cost of goods. Last April, it was $37,529 for a 47% cost of goods. So, our cost of goods overall went down this April versus last April. Same thing with our restaurant labor. Our restaurant labor was at 34% this April, which looks great on paper, but with some of our staffing issues, it's killing some of our guys in the back. I know Jen hired a new part-timer to work a couple nights. It's going to take a lot of the stress off of some of the guys. They can actually get some downtime. My goal for the restaurant is a 40% labor cost. I think we'll still be fine and keep our employees sane. Mr. Dale: Right. We have to keep them. Mr. Moller: Total nets for this April, was $74,978. That's both golf and restaurant combined. Fiscal year to date, we're sitting at a $359,791 net profit. Last year, we were at $259,834. So, we're 30% better off this year than we were in net profitability. Mr. Dale: We're $100,000 over last year. Okay. Mr. Moller: If we take the inventory adjustment out, we're still 16% better than last year. Mr. Dale: Right. Mr. Moller: So, this April basically makes the restaurant turning a profit three months in a row. I know historically September through January, even looking years past, the restaurant has always thrown a negative number in there from October through January. As of May 21st, golf round revenue was sitting at $135,000. Last year, it was at $129,000. So, we're $6,000 ahead of last May. Last May, we finished at $189,000. So, we should finish over $190,000 or $195,000 this May. The restaurant as of the 21st, was sitting at $54,000. Last May, was at $52,000. So, we're running about $2,000 ahead of last May and last May, the restaurant finished at $80,000. So, I think May will still be another good month for us. Mr. Dale: Right. Mr. Moller: In both operations. A couple things for golf operations. Most of it is just working on a new POS system, but one of the bigger things, is as part of my presentation that I just handed out. • Discussion of After Hours Event (Item 7Bi) Mr. Moller: Actually, before I get to that, I know in the restaurant workshop, we had talked about an event that we have coming up in October, with a live band from 6:00 p.m. to 10:00 p.m. I know we wanted to table that and move it to here. I didn’t know how you wanted to address that. Mr. Dale: I know the Marketing Manager had a few comments regarding evening events, as we head into the Summer. Ms. Webb: We received a lot of complaints about Music On The Patio between 5:00 p.m. and 7:00 p.m., because when the sun is coming down, it is right into people's faces. It's really harsh and we don't have a way to block it. So, a couple people asked if we could start at 7:00 p.m. instead of 6:00 p.m. However, from 7:00 p.m. and 10:00 p.m., I can't really hire the musicians as it’s only a two-hour span. Most of them require a three-hour span. I know we haven't had any complaints about Music On The Patio from any residents since we started it. They are not big bands, just small musicians. So, it's not like we’re beating on people's doors and things like that. Through Summer, I was wondering if we can change the hours from 7:00 p.m. and 10:00 p.m., to beat the harshness from that direct sun during that period of time. The band wanted 6:00 p.m. and 10:00 p.m. We just had a new guy that was singing and they said it was great being out there after 7:00 p.m. and there were new people that have never been there before. I think that's something we might want to look at, especially during these later hours, 7:00 p.m. until 8:30 p.m. It's great when it's 5:30 p.m., when the sun is down and it’s done. It doesn't affect that area, but 6:00 p.m. is powerful right now. I don't know if you guys ever been there, but people are trying to block it, because we have no shade for that area. So, I recommend that maybe we change it to 7:00 p.m. and 10:00 p.m., just for the Summertime or until the time changes again, to where it's not as harsh for them, because it's hot. That sun hitting you in the face during that time, is really hard. Mr. Rysztogi: So, they accept three hours. Ms. Worshel: Most of them are a three-hour minimum. Mr. Rysztogi: I thought they would want four hours, but okay. Mr. Webb: Most of the ones that I've been hiring, I'm hiring them on a three-hour minimum, from 6:00 p.m. to 9:00 p.m. They're okay with that, but if I move them to 7:00 p.m. to 10:00 p.m., they are going to sing for two hours for the same cost of three hours. Mr. Dale: What are your thoughts on that, Ron? Mr. Rysztogi: What would it cost if got them to go from 6:00 p.m. and 10:00 p.m.? Because they take breaks, right? Ms. Webb: Yeah, they take breaks. Mr. Rysztogi: Would that be financially feasible? Ms. Webb: Right now, I pay an average of $150 to $200 per person. It would probably take them another $50 from $150 to $200 or $200 to $250. It just adds cost. Mr. Rysztogi: If you like entertainment at 6:00 p.m. and they don't like the sun, why can’t we do it from 6:00 p.m. and 10:00 p.m.? Ms. Webb: It just costs a little bit more. Ms. DeVries: We stop at 9:00 p.m., because the restaurant is in the middle of a neighborhood. Ms. Webb: Right. Ms. DeVries: All I'm saying is that we've made a rule for no music outside after 9:00 p.m., because the facility is in the middle of a neighborhood. So, I don't understand why we're talking about 10:00 p.m. Mr. Dale: Well, and I think that's the crux of where we're at. I think based on what we talked about in the workshop, the Board had questions about 9:00 p.m. versus 10:00 p.m. and I think that's why we wanted to move that discussion to this meeting, to decide whether or not we want to revisit that. Ms. Webb: They do come and they set up at 5:30 p.m. or 6:00 p.m., but they want us to do something about the sun, because it’s too harsh out there. I can't fix the sun. It's going down. Ms. Yelvington: It’s too harsh out there. Ms. Webb: It's very harsh out there. They said, “Can you put those things down?” and I have to say, “I can't put those things down.” By 7:00 p.m., it's not as harsh. Mr. Dale: Well, the other component of this also, was the event that Jim was talking about at the workshop, which was a rather large event that requested a band and wanted them to play until 10:00 p.m. in November. The group itself is very commendable. It's a disabled veteran group and the kind of people that we want to support. The issue was the band outside. I know where Jen is coming from. I do recall the one time we had the Highway 1 band, they were exceptionally loud. You could hear them from the parking lot. I will add to that though, that is really the only time I've heard anybody that was playing, including Music On The Patio. Ms. DeVries: I can hear Music On The Patio from my patio. Mr. Dale: Generally, depending on which way the wind is blowing. I've never heard it at that decibel level that the Highway 1 band was at. Ms. DeVries: Okay. It has not been at the decibel level, but I can hear Music On The Patio on my patio of my house. Mr. Dale: Right. Ms. Webb: I'm not trying to debate, but there are times that we hear in Osprey, the bands that are playing at Viera East. Mr. Dale: Do you mean at the softball stadium? Ms. Webb: Yeah, when they have Music Of The Bands. Mr. Dale: I got you. Ms. Webb: There are times when we hear those at our house, when we sit in the back patio and we’re like, “What is that?” Oh, it's that festival. Sometimes it's all about the wind. Mr. Dale: Right. Ms. Webb: I talked with Jim about, if that band does come, instead of putting them right next to the Hook & Eagle, because that band will affect a lot more of the houses and if we move them over where the carts are, the cart barn is more that way and we can kind of face it out to the driving range and maybe out to the lake area. Mr. Dale: Well, it does send the sound downrange, instead of into homes. Ms. Webb: It’s going to send the sound not right up at the houses. We can definitely calm it down. That's one day. It just happened this new guy that came out on Saturday night and the people that came out for him said, “Man, that sun is harsh. It was fine up until 7:00 p.m. You guys should do 7:00 p.m. and 10:00 p.m.” and I'm like, “Huh,” Mr. Rysztogi: We don't have a performance area. We should actually look into having one. Mr. Dale: That's a presentation that Jim wants to make, which we’re going to address, but let's deal with this issue. Ms. Webb: Well, I mean, if he has a solution for the sun, then we can say 6:00 p.m. to 10:00 p.m. Mr. Dale: Well, we've got the band thing. Ms. Webb: I'm just trying to get us through Summer. Mr. Dale: I got you. Mr. Dale: Well, here's my issue. I don't want to keep reopening the wound, pulling the band-aid off, whatever analogy you want to use here, but whatever we do, I think we kind of need to put it out there and this is the way we do things. I do understand the need from time to time, to have 10:00 p.m. as the hour. I don't think that's too late. I think if we were talking Highway 1 band levels, yeah, that's an issue, but the Music On The Patio stuff is not exceptionally loud. We are on a golf course. Everybody knew that they were moving to a golf course that has activities. I looked this weekend and I believe the Last Call Band is playing at Twisted Birch over at Turtle Creek. I know Duran has bands that they put out on the patio, all of that kind of stuff. Ms. Webb: We don't have to change the hours, if I can buy some of those attachable table umbrellas. We just need to have a solution. Mr. Dale: Well, kind of what I was thinking that the Board might be amenable to, instead of us taking a vote on it every six months or every 12 months or depending on the season, this is what we hired a Golf Course Manager for. For certain events and certain tournaments at certain times of the year, maybe we keep the 7:00 p.m. to 10:00 p.m. hours. Then when we're in the Winter, maybe we go back to 6:00 p.m. and 9:00 p.m. or something like that. But it's kind of my feeling that we should empower the Golf Course Manager to make that decision. Ms. DeVries: I actually think this is a Board decision. I think this is a policy decision and it's something that as a Board, we need to set. I know we're not setting hours, but I think we're affecting the residents who elected us and the residents have very strong opinions about this. Mr. Dale: I do want to address that point, because you brought that up in the workshop, Jen, and that was one that stuck with me. There are 12,000 people that live in the District, not just the handful of people that live around the Clubhouse. Ms. DeVries: Think about it if it was your house. Mr. Dale: If I had moved to a golf course, I would have expected things to get a little rowdy at certain times. Ms. DeVries: I wouldn't and I never did until now. Mr. Dale: Yeah. Ms. DeVries: These people have been living here for 20 to 30 years and it's never been that way. Ms. Webb: I'm going to bring this up too, because I know we've talked about events. People have asked me if we want to do weddings and things like that. Mr. Dale: Well, that is another factor, weddings. Ms. Webb: This is where I go back to, if we do have a wedding and somebody wants the reception there and I tell them 9:00 p.m. I'm not saying all the time. Mr. Dale: Right. Ms. Webb: I think it should be based on an event that is discretionary, based on what we want to offer. Mr. Dale: Right. Ms. Webb: But this isn't going to be all the time. If it's an event or a group of people that came for like Music On The Patio, we can do table things that could block the shade or whatever the shade issue is. I'm fine with not changing it. It's just getting harsher out there. Mr. Dale: Right. Ms. Webb: I have to pull it inside or I have to change the hours. It’s a Summer issue. Mr. Dale: This is what I mean by empowering the Golf Course Manager. I agree with you, Jen. It would require a policy change. It would mean that the Board would vote up to 10:00 p.m., but it would be at the discretion of the Golf Course Manager. What I don't want to do, is have a Board vote every time we have a wedding or a tournament or somebody that wants to do something special out there. Ms. Webb: If we know in advance far enough and we post it, if I take it to the front office and we say, “Hey, we're doing this event and there is going to be music until 10:00 p.m., please let your residents know,” I think that's respectful. Mr. Dale: Right. Ms. Webb: Because even when we hear the big bands from the other side at Osprey, I'm like, “How long is this going?” So, I hear you. Mr. Dale: Denise, I'd like some input. Ms. DeVries: Is everybody invited? Because generally the polite rule is if you have a party at your house and you're going to make a whole bunch of noise, then you invite your neighbors. Ms. Webb: Well, I mean, we'll have karaoke going on in the Hook & Eagle. When they have their thing out there, they will have two options. Mr. Dale: I understand what you're saying, Jen. I think, to answer that, would depend on the event. Obviously, if it's a wedding, not that we're doing weddings now, but in the future, if ever we decide we want to do something like that, we don't want everybody from Parkstone joining the wedding party. But I understand what you're saying with regard to tournaments and things like that. Ms. DeVries: Yeah. I'm just throwing it out there, because I don't think this is going to go over well with the Viera East golf community. As a person who lives there, I represent the entire District, but I also represent them. Mr. Dale: Right. Ms. DeVries: Now, what I could buy into, we might allow up until 10:00 p.m. during the time of the year when its light later. Right at this Summer period when the days are long, it's light later. We could define a season for that. Ms. Webb: Right? Mr. Dale: I agree with you and maybe we could add language, that it would be the preference of the Board for the General Manager to consider that, but I also don't want to get where we're 10 months down the road and Tiger Woods has got some great tournament that he wants to do. I know I'm being a little facetious, but I think the gist of what we're talking about, is what you just said, but I still kind of just want to leave that with the General Manager, because I don't want to keep bringing this up at Board meetings. Ms. DeVries: I don't either. I think we have to decide who we are. Maybe this facility is not the facility that does late night events. We do karaoke inside, but maybe we're not the facility that does these big events. Ms. Webb: Well, the question is whether we want to have a two-day golf tournament. Mr. Dale: Right. Ms. Webb: There are a lot of two-day golf tournaments. Mr. Dale: Right, like the Wakefield golf tournament. Ms. Webb: Yeah, the Wakefield Golf tournament. We always had music on a specific night of the tournament round. Mr. Dale: Right. What is happening, is we're kind of victims of our own success, in that we're getting more popular. Ms. Webb: That one was 11:00 a.m. and it was at Baytree. Baytree is in a housing area. Mr. Dale: Right. Bill, do you have anything you want to input here? Mr. Macheras: A couple things. I do agree with Jen that we did pass a policy for music until 9:00 p.m., but thank goodness we meet twice a month. Let me use numbers that Jim is throwing out. We made $350,000 year to date and revenue is up 38%. So, I'm thankful that as a Board, we look at that and we see what things we can do and what things are out there. So, I'm grateful that we don't set something in stone and as we progress and grow, we can talk about it changing. So, let me do one of two things. First of all, I'm okay with moving it to 10:00 p.m., but let's look at it in two different ways. If we're just talking about Saturday nights at 10:00 p.m., then I do agree with Jen and I do have it written down. But if it's specifically because of the sun, then I don't see any reason why we can't set the parameter that whether it's the time change or whether it's August, because if that is the reason and the sun is going to change in three or four months, then let's move it back to 9:00 p.m. Then we take out the event in November and we look at that as a one-on-one basis, because I don't know if I would want to say 10:00 p.m. yearround, to cover all of those, if we're only going to have three or four a year. If you're telling me that we're doing it for the reason of the sun, then I would be okay with setting a parameter when the sun is not a factor and then we go back to 9:00 p.m. Then as we have these events that might come up, we do it on Monday and Tuesday, versus leaving it at 10:00 p.m. throughout the year. Again, we're looking at Summertime and I agree with Jen. If I sat out on my porch at 9:00 or 10:00 p.m., I could hear the traffic on I-95. I can hear the train. I can hear Beef o’Bradys. I don't sit outside at 9:00 p.m. in the Summer. So, I'm not sure how many of our residents might. If I'm inside watching TV, I'm not going to hear anything. I think the level of music that we have on a weekly basis, I'm just saying, I don't think we'll be at that level. Hopefully it will be a distraction. But taking away a special event, if we're looking at going to 10:00 p.m., I'm okay with that. I will have to push back a little bit on my buddy at the end of the aisle, Ron. Again, if we're looking at it because of the sun, then let's just move it to between the hours of 7:00 p.m. and 10:00 p.m., but we can still leave it from 6:00 p.m. to 9:00 p.m. But if we're moving it because of that reason, then I'm okay with 7:00 p.m. to 10:00 p.m. I would certainly want to make sure that we have a very hard $950 last month. No exceptions. We don't want to go to 10:05 p.m. If we're going to do it, then 10:00 p.m. better be it. I don't think it would be that much of a hindrance, in my opinion, as a Board to say we're doing it. I think, to be honest with you and I'm going to work with Jen on this too, if we want to be honest and transparent, if we're truly doing it for the sun, then when that changes, we're going back to 9:00 p.m. We're strictly doing it for this reason. Then the outside event, the golf tournament in November, we should look at that as a one on one and I don't think we have to leave it at 10:00 p.m. year-round. So anyway, that's my two cents from calling you long distance. Mr. Dale: Thank you, Bill. Ms. Webb: My thing is, I'm still looking for things that I can attach to the table that would block it a little bit and not be directly in your face. Mr. Dale: I got it and I don't want to get into the weeds on all of that. But Denise, I haven't heard anything from you yet and I really want to get your input here. Ms. Yelvington: Well, I think it is way too hot in the Summer at 6:00 p.m. I've tried to go to Music On The Patio, but I don't particularly love being out there in the Summer. However, I do like the idea of starting at 7:00 p.m. Whether it goes to 9:00 p.m. or 10:00 p.m., I don't really care. But I see 7:00 p.m. is probably a much more reasonable time to start the music. Mr. Dale: Right, but I think the bigger issue is the 10:00 p.m. issue. Ms. Yelvington: The 10:00 p.m. issue, I mean as far as that tournament goes, that's a oneoff issue and we have so much time to notify the residents. So, I don't think that should even be a point of contention. There's plenty of time for people, if they were going to be uncomfortable with that, they have six months to figure out where they want to be that night, if they don't like the 10:00 p.m. So, I have no problem with that at all. That's perfectly reasonable. On an ongoing basis, I understand that the residential community is affected by the later hours. So, I don't know what you do with that. Mr. Rysztogi: I don't really care what the decision is, but what I don't like is, “Well, when it gets this time of year it's 9:00 p.m. and later we'll get 10:00 p.m. and if it's daylight-saving time…we're making this complex when we make a decision.” It should be 10:00 p.m. at the manager's discretion and that's it or 9:00 p.m., but I don't agree with, “If it's an April day it's 9:00 p.m. and if it's an October day it's 10:00 p.m.” That's what I don't like. I don't like to make it complex. Just set a time. Say, “The manager has the right to go to 10:00 p.m. at his discretion for the proper event.” That's just my opinion. Make it 10:00 p.m. at his discretion, no matter if it's February or October. It doesn't matter. That's my opinion. Ms. Yelvington: Is the attendance in the Summer still strong in the heat? Ms. Webb: It has been. Ms. Yelvington: Do you typically have to move the act inside, because it's too hot outside? Ms. Webb: It depends on the act. A couple of our older acts that we had, the saxophone guy, would only perform inside. So, we'd move him in. Ms. Yelvington: I do think we as a restaurant, we definitely need to prioritize doing something with that patio for that sun, some kind of a better shade system. Mr. Dale: Hold that thought. That’s coming up. Ms. Yelvington: That’s part of our bigger plan for sure, because it can be really miserable out there. Mr. Rysztogi: You keep saying there's a performance area being kicked around. Right? Is that what you're saying? Mr. Dale: No. Jim has a proposal that he has handed out to everybody. Mr. Rysztogi: I think we're lacking a performance area. Mr. Dale: Right. That's what this is all about. Ms. Yelvington: Yeah. So, I don't know what the right thing to do with the later hour is, but if it's super-hot in the Summer anyway, why not pull it in? Do you think that many people enjoy being out there in the heat? Ms. Webb: There are a lot of people that like the patio. They just don't want to be out between that 5:00 p.m. and 6:00 p.m. Mr. Dale: Alright. It sounds like we've kind of beat this a little bit and we're getting a little late in the evening. I will ask the Board, is there anyone that would care to make a motion? Mr. Macheras MOVED to move the outside activity time from 7:00 p.m. to 10:00 p.m. at the discretion of the General Manager and Mr. Rysztogi seconded the motion. Mr. Dale: The thing that I would add to that, it wouldn't be amending the motion. It just would be adding language that the preference of the Board, is for the General Manager to give him guidance, which is essentially what we talked about looking at 10:00 p.m. for the Summer months. However, if it's a special event such as your tournament or another tournament or whatever, 10:00 p.m. is okay, but then let's be sensitive to the residents like Jen is talking about, where maybe we do 9:00 p.m. in those months. We're not making it mandatory for the General Manager, but it keeps it so we don't have to keep coming back and pulling the band-aid off every 12 months. Ms. Webb: I'll watch it too, because if I see that people are leaving by 9:00 p.m. and not staying until 10:00 p.m., that's irrelevant too. Right? We don't want to move something where everybody still disappears at 9:00 p.m. Mr. Dale: Right. Ms. Webb: Why have music going from 9:00 p.m. to 10:00 p.m.? Mr. Dale: If nobody's there. Ms. Webb: Right. So, I will definitely keep on with what you guys prefer. If we moved it and they want to stay inside, the problem with taking it inside, is the sound. Mr. Dale: Do we have any further discussion on the motion? Mr. Macheras: I just have one comment and I appreciate the input that Ron provided, but I just want to remind the Board that I agree with Ron, just like when we talk about changing the venue. We don't want to do it nilly willy all the time and like, Ron, I don't want one week 9:00 p.m. and one week 10:00 p.m. I understand where Rob is coming from. I think this is a seasonal thing. Let's be honest, we do it with our restaurants. Many businesses change their time based on the season, but I'm just putting it out there, that when those times come, per what Ron said and Rob, we're not doing it week to week. I trust changing it to 9:00 p.m. I'm just throwing it out there. Then it's going to be for a period of time based on outside elements, such as the snowbirds are gone. Mr. Dale: Right. Mr. Macheras: Temperature change, etc. Mr. Dale: Right. Mr. Macheras: So, we got to remember, we do that with our restaurant. Anyway, that's all I have. Mr. Dale: Thank you, Bill. Alright. On VOICE VOTE with Ms. Yelvington, Mr. Dale, Mr. Macheras and Mr. Rysztogi in favor and Ms. DeVries dissenting, moving the outside activity time from 7:00 p.m. to 10:00 p.m. at the discretion of the General Manager was approved. (Motion Passed 4-1) Mr. Dale: I appreciate everyone's comments. One of the things I appreciate so much about this Board, is the fact that on 98% of the issues, we're generally of similar mindset and I appreciate that. So, just because we have one where we're not unanimous, doesn't mean anything. Ms. Webb: Anything I plan and I think we all do, we're trying to respect the community around us. Mr. Dale: Yes. Ms. Webb: But also, I'm not going to put a six people band out there either. Mr. Dale: Right. I understand. Yeah. Ms. DeVries: I appreciate that. Ms. Webb: You're welcome. Ms. DeVries: But for the sake of my own community, I have to vote no. Ms. Webb: Oh, I get you. I get you 100%. I just know that it's not comfortable out there between certain hours anymore. People don't want to come if they're too hot. Mr. Dale: Right. Alright, we're going to move on to our next item. Mr. Moller: Let me finish my report. Mr. Dale: Yep. Jim has another presentation that segues into this discussion. Mr. Moller: I handed everyone a pamphlet. Jen and Bill, I emailed you a conceptual business plan. This is to include an indoor simulator and an outdoor patio deck expansion. So, I will start with the indoor simulator. We aim to expand revenue streams, attract broader demographics, enhance guest satisfaction, ensure long term sustainability for both the golf course and the Hook & Eagle. The combined capital outlay, I estimate is anywhere between $209,000 and $338,000, with a potential annual return of $152,000 to $200,000, translating to anticipated return on investment (ROI) of 45% to 96% and a payback period of 1.5 to 2.3 years. On the patio deck, I didn't want to oversell, so I don't include any special events. This could open us up to doing small weddings and bigger Music On The Patios. Not bigger bands, but just bigger attendance. Only peak weather times a year will be used, basically January through April, when the temperatures are right, on Friday and Saturday nights. Only about a third of the year, there is about 90 days of actual usage, on 12 to 16 tables, with 60 people at an average head about $25. That gave me around like $80,000 a year in revenue. That could possibly go a lot higher, but just for this, I left it at that. Starting off with the indoor bay, the concept that I'm going to use, are the old mechanics area in the cart barn, which is basically dead space. There's an old eyewash station, which we don't need any more, because we're not servicing carts. There's a workbench that we don't need, because we're not servicing carts. Basically, there's a big area, which is large enough to house a golf bay simulator. We were just going to wall it in and cut a hole in the concrete wall, as you're walking through the breezeway, to allow access to the simulator bay. By adding the simulator bay, we can have casual play. Our golf pros can have lessons and instructions. We can do private events, possibly small league play, food and beverage service, things like that. Year-round revenue, rainy days we can attract new demographics; women, the youth, families, especially beginner golfers. I know taking my girls to Topgolf and some of the other ones, they love doing that. That kind of is a launching pad for people to get into playing golf. Extended time spent there, can drive cross sales to the bar and the pro shop. Estimated revenue streams for similar rentals, generate about $3,000 to $5,000 per month. Food and beverage generate $2,000 to 3,000 per month. Additional lessons and events generate anywhere from $1,000 to $2,000 per month. So, we're looking at anywhere from 36 to 60 for simulator rentals per year, 24 to 36 food and beverage, 12 to 24 in lessons, anywhere from 6 to 10 per month and up to $72,000 to $120,000 per year in estimated revenue from the golf simulator startup costs. Since it's still a concept, I did have a rough quote from a contractor on what the build-out would be for both the patio and the simulator bay. The simulator system, we’re looking at between $40,000 to $50,000, depending on how many bells and whistles we want to add to this. The build-out is anywhere from $35,000 to $60,000. Furniture inside, is anywhere from $8,000 to $10,000. I'm thinking a small little love seat, a couple of high tops and a couple of single chairs. Electrical and IT is anywhere from $1,000 to $3,000. I threw some branding and signage in there and about $5,000 in contingency. So, the cost for that is anywhere between $85,000 and $130,000 and we're looking at anywhere from $72,000 to $120,000 in revenue. Mr. Dale: It is usable regardless of weather conditions. Mr. Moller: Unless we have a power outage. Mr. Dale: So, on rainy days we'd be able to still make money. Mr. Moller: Yeah. The one simulator that David turned me onto, was called About Golf. You can look it up online. It does more than golf. It has Skee-Ball, cornhole and kid games like dodgeball. Kids can just throw balls at a pirate ship and try to win the game. It has a driving range. It has over 96 different courses. It has the capability of doing picture in picture. So, US Open time, we can put a premium on it. Let's say the US Open in a couple years, is at Bethpage Black, you can play Bethpage Black, while watching the US Open at Bethpage Black in a picture in picture on the simulator screen. Mr. Dale: You'd be able to market that. Ms. Webb: Yes. Mr. Macheras: Just a real quick question. If I do that, I won't lose any balls, correct? Mr. Moller: Correct. Mr. Dale: You will not lose any balls. Ms. Webb: You will just save money. Mr. Macheras: I just want to make sure. Ms. Yelvington: How many people can use it? Is it one person at a time? Mr. Moller: I would probably go no more than eight. That's going to be very crowded, but you can do four easily. Mr. Dale: Then you have a private room with table service. Ms. Webb: Well, I will tell you, it's starting to become the thing. It is very popular. We've actually got one here. We need to get moving on this, if we’re going to do this, because there's one here and they're already booked. I called just to see the next time I could book it and I was told not until the end of July. Ms. Yelvington: Where is that? Ms. Webb: It's in Melbourne somewhere. Ms. DeVries: What about that one that's on Murrell Road, right around the corner from the Aldi. It's like a club for this kind of thing. Mr. Dale: Thank you, Jen. Ms. DeVries: It is like simulated golf. Mr. Moller: Yeah, that one is membership only. I think they sell 2,000 per year in memberships, they give you a key card and you can basically come and go as you want to. But they also have quite a few simulators in there. Ms. Webb: I'll have to find the one that I just called. Because I said, Jeff, “We better hurry.” Ms. Yelvington: We have Topgolf moving in. So, it that seems somewhat important for us to stay relevant in that space. Mr. Moller: Yeah. Mr. Macheras: First of all, I think it's a great idea. Like Michelle said, it's something that's certainly coming up. Then of course, we could use it for lessons or using it for these little field trips with the second graders. To be honest with you, if I had a ROI that I could get stuff back in 18 to 24 months, I'd probably still be in retail. But the other thing that I like and you guys correct me if I'm wrong, because you have been on the Board longer than me. But when I'm looking at this cashflow, here's an opportunity to put money into something, versus in a CD or something, that's going to generate funds versus that $250,000 plus we're making a year, making a few percent on. So, I like that too, not only because I think it's a great idea, but it's another way that we can use our money to build what we have and generate more funds. Ms. Webb: Yes. Because the one that I was interested in, was called Golf Garage, which is on New Haven Avenue, across from the Crane Creek Reserve golf course. Mr. Dale: They’re already booked until when? July? Ms. Webb: She said July. Mr. Dale: Wow. Ms. DeVries: Wasn't there something like this set up at Spartans as well? Mr. Moller: Yes. Pockets and Putters. Ms. DeVries: I'd have to look it up. Ms. Webb: Pockets and Putters, but they also have other kid things going on. Mr. Moller: Yeah, it's called Pockets and Putters. I think it has pool tables and some simulators. Ms. Webb: Yeah, but not the type that he's got. Ms. DeVries: Okay. Mr. Dale: I think you're talking about a different level of simulator. Mr. Moller: I want to say the simulator at the one on Murrell Road, About Golf, is the same simulator. Mr. Dale: Okay. Alright. Mr. Moller: There are different levels to that, but it's the same company. Mr. Dale: It's not some cheesy thing. Mr. Moller: Oh, God, no. Mr. Dale: Yeah. Ms. Webb: I can show you a picture. Mr. Moller: There's one that if we really want to spend some money, it has a 180-degree screen. Mr. Dale: Oh, wow. Mr. Moller: It's total immersion. It's probably another $30,000. Mr. Dale: Wow. You're talking like Star Trek type stuff. Ms. Webb: Which is definitely totally marketable. Ms. DeVries: Jim, I love the thinking. I love that you're looking at using some of our space to try to find a way to make some additional revenue on it. I really was impressed by this. I liked it. Mr. Moller: Thank you. Ms. DeVries: Yeah. Like Bill said, it looks like it has a good ROI. I had a similar question about how we're going to serve people who are in here, because it is not really adjacent to the restaurant. Are we going to have food and beverage or a vending machine? Mr. Moller: We will have food and beverage table service and it's no farther a walk than the girl service and the patio tables. Ms. DeVries: I guess that's true. Mr. Moller: If you can envision where the liquor storage is, that blank wall right to the right of liquor storage, is where the door would be. Mr. Dale: So, we just take out a part of the wall, is what you're saying. Ms. DeVries: We need signage too to point people there. Mr. Moller: Yep. Ms. Yelvington: We could have a grand opening. Mr. Rysztogi: How many feet are you're talking between the overhead door and the edge of the building? How far is that? Mr. Dale: You know where the roll down is? Mr. Rysztogi: Yeah, I'm looking at it. On the right-hand side, you're talking about the wall between there and open space. Mr. Dale: Yeah. In the cart barn. Mr. Rysztogi: Yeah. So, how much wall is between the… Mr. Moller: There is no wall. Once you blow through that concrete, it's just the cart barn. So, 25 x 20 is the size of the room and then I think the simulator bay would be like 17 x... Ms. Webb: We even talked about, if a party of 16 wanted to come, you could actually get a couch for the outside area, right around there, so that people can sit outside waiting to play. It’s a nice party size. Because if you can't only get like eight people inside, that’s not a big party. But if somebody wants to have a bigger party, you can have a couch area outside, where they can sit and have drinks. Saturday night, they could have Music On The Patio and then they go in and out of it. So, it could be a nicer area for that type of stuff. Mr. Dale: My question on this is for Jason. I love Bill's comments on the CD or the money market rate, because as a financial advisor, we've got this great study that we've done, the Reserve Study and we're putting 20 plus year money into things that are making 2% and 3% or low interest rates for a 20-year period. That just drives me nuts. Whereas we're talking about an ROI here on some of this stuff at a much higher rate. I think you did some calculations on this, Jim, like if we did it on a five-year basis, what do you think? Mr. Moller: I don't know. I found an online calculator and just had an ROI of 45% to 96%. Mr. Dale: Okay. Alright. So, I guess where I'm going for my question with Jason is, because I wouldn't want that money just to get absorbed into the system or whatever, from a bookkeeping perspective, would we be able to designate the profits from this? I get that it's just on paper and that all goes into the same thing. Mr. Showe: It would create an additional revenue line that would just be dedicated to the profits here? The question would be, would you roll the food into that? But that's more of an operational question. We can create as many account lines as you want and track them any way that you want to. Mr. Dale: Right. I'm not trying to decide how that would look right now, but so it just doesn't go into the black hole, I guess, what I'm saying, then 10 years down the road, you got a new Board and they want to spend it all on Palm trees or something, they would know that this money is designated for an irrigation system or whatever we want to designate it for. Ms. DeVries: Are we able to run this with? I don't see any additional labor costs here. Mr. Moller: No. Ms. DeVries: Are we able to run this with our existing labor? Mr. Moller: Yes. Ms. DeVries: How do we manage it? Mr. Moller: You don’t. Ms. DeVries: How do we get the simulator started? Would it be automated? Mr. Moller: It could be just automated. One of the cart guys could just go in there and check them in. They would have it for an hour or two where they rent it and then when they're done, someone would come through for 10 or 15 minutes to clean it up. Mr. Dale: Or maybe they check in at the pro shop, just like when they're going out on the golf course. Mr. Moller: That’s what they would do, but they would have to go in, set the simulator bay up, give them the speech for their first time. Mr. Dale: Right. Mr. Moller: But yeah with the current staff. There is no additional labor. Mr. Dale: Nice. Mr. Rysztogi: You done here? Ms. Webb: Now if we get really busy on a Saturday night and we have great Music On The Patio, we might need extra people. Mr. Moller: It might take an extra server, but it won't be a dedicated server just for that. Mr. Showe: I think I got the point you were making. You could certainly allocate a revenue line, which would be accountable to this and if you wanted, then directly under the expenses, just transmit that to the capital reserve. Then that way it offsets each other. Mr. Dale: Anything generated from this, goes back to reserves. It's our ROI. Because effectively what we're talking about, is taking from our reserves. What I don't want to do, is take from the reserves and then just have it go into general operating income and we get to spend it. No, we're taking from reserves, but we're doing it because we're trying to get a better rate of return than 3%. That is what the objective here is. Mr. Showe: Yeah. I think the policy would just be whatever revenues are generated as a result of that service, would go straight back to capital. Mr. Dale: Right. Interesting. Mr. Rysztogi: Okay. On the patio expansion... Mr. Moller: That's where I'm going next. Mr. Rysztogi: Oh, you're okay. Alright, because I have some questions on that. Mr. Dale: Okay. Mr. Moller: Are there any more questions on the simulator? Ms. Yelvington: Will we get to see a mock-up of what it looks like? Mr. Moller: This is the conceptual for me to move forward and get more detailed estimates. A lot of the contractors, because this was conceptual, are like, “I really don't want to spend that much time putting everything together.” So, they gave me ranges of costs. Ms. Yelvington: Okay. Mr. Moller: So, once you guys give me the right conceptual approval to move forward, then we will put together costs. Mr. Dale: Jason, is that going to require a vote? Mr. Showe: Yes. Any expenses of that level are going to require Board approval. Mr. Dale: Well, no, I mean to move forward. Just the inquiry. Mr. Showe: No. Getting quotes is free. Jim can get you free stuff all day. Mr. Moller: Alright, so let's go to the patio expansion. So, we have some lawn area behind the patio currently. Yes, it's lawn, but it's kind of dead space. So, I wanted to expand off the patio, to the existing cart path, right off the patio. Basically, from the corner of the patio by the driving range, all the way to the first set of steps from the breezeway down to the putting green, will all be outside patio. Mr. Rysztogi: The elevation would be patio. Mr. Moller: We'll just go straight off of straight elevations. Mr. Rysztogi: So, when you're down by the cart, you're 4 feet in the air or something. Mr. Moller: Probably about 3 to 4 feet. Mr. Rysztogi: Okay. Alright. Mr. Dale: That’s a good spot for benches. Ms. Webb: We also talked about a seating area. Mr. Moller: So anyway, I want to make it out of composite decking. Most of your composites have about a 25-year warranty lifespan, anywhere from 25 to 50 years. None of us will have to worry about any kind of repairs or replacements. The maintenance on this will be very, very minimal. What I wanted to do, was on the patio, have an outside railing, because of the elevation. Then every other post of the railing, will have a riser almost like a pergola. So, then what we can do, is we can have the power roll up shades, that will wrap all the way around the patio. That would help with the setting sun. We'll have room for anywhere from 12 to 16 tables out there. Mr. Rysztogi: What are the dimensions? Do you have a ballpark? Mr. Moller: I don't have the exact square footage. Mr. Rysztogi: Are you talking 50 x 50? Mr. Moller: Much bigger. Mr. Rysztogi: Much bigger than 50x50? Mr. Dale: Essentially the length of the existing patio, is what you're talking and pushing it out probably to roughly 25 feet. Mr. Rysztogi: The only thing that I have, is we have a heat issue, as composite material generates heat. It doesn't cool, it gets warmer. Mr. Moller: Correct. Mr. Rysztogi: Just keep that in mind. Mr. Moller: Yes. Some of the tables I was thinking of, we can either have the tables with the umbrellas or because we have the pergola effect, we can actually have sun shades, kind of like we have over top of the back of the restaurant right now. That will give midday shade for the cooler months. They have some rectangular, circular tables that actually have fire pits in the middle of the table. We can have a couple of those out there. We can also have space heaters and put the walls up. Space heaters I think, will be very enjoyable in some of the colder months. Mr. Dale: So, the concept I'm getting for the walls, is kind of, forgive me for putting it like this, but like grills around the patio deck area. I'm getting that vision. Mr. Moller: Just a power roll up, roll down shade screen. Mr. Dale: Okay. Alright. Interesting. Mr. Moller: With the composite decking, we can have built-in cornhole boards. So, if we want to have special events out there, we can pop them up and use the cornhole boards. If we don't have the event, we can slide them down and it's flat area walkways. Slide a table over there, but it gives us that opportunity for events. Like I said earlier, I estimated about $80,000 for annual revenue out there, with the additional seating, especially on peak weather days and nights. It gives us expanded event hosting, such as golf tournaments and Music On The Patio. What we can do now, is we can actually have the performers at the end of the patio playing back towards the Clubhouse, so that the sound kind of gets trapped and absorbed by the Clubhouse and up underneath the roof. Mr. Dale: Especially if you're aiming it towards the Clubhouse and then it's going back against the wall that they would be up against. Mr. Moller: Correct. There's no wall. Mr. Dale: Well, you know what I'm saying. The shades, which would be sound absorbing. Mr. Moller: Yes. Mr. Dale: Okay. Mr. Moller: Yep. It will then open up the doors to private functions and small weddings. It will improve traffic flow. It gives us a little bit modern look off the back of the Clubhouse. Like I said, minimum maintenance with a 25 and 50-year lifespan. It would provide improved customer satisfaction, better ambiance and extended stay for guests and golfers. The estimated cost for the composite decking, is anywhere from $50,000 to $60,000. The labor and the contractor build-out, is anywhere from $20,000 to $40,000. The railings, the bar tops, I know Michelle said something about that. The railings on the far end, as you look out over the driving range, I was thinking about just having just almost like a little bar top area where you can have taller seats, so that golfers at the end of the round can have a cocktail and look out over the driving range and over the golf course. In addition to the tables, there would be about $1,000 to $3,000 for permitting and inspections, anywhere from $20,000 to $35,000 depending on how aggressive you want to get with shading, umbrellas, sun shades, etc. and $20,000 to $40,000 in outdoor furniture. I would pretty much go with the same design that we have right now on the patio. Then I just added about anywhere from $3,000 to $10,000 for contingency. Of the two projects, this was costlier, just because of the scope, anywhere from $124,000 to $208,000. That's why I combined the two. I think the simulator would be more realistic. Mr. Dale: It would have an immediate impact right away, is that what you’re saying. Mr. Moller: Yes. We are actually talking about using the revenues from the simulator to pay this off and give us a better return on the money. Mr. Rysztogi: I like the idea that the entertainment faces the restaurant goers, because the way it's set up now, you have a choice of having your meal and not seeing what the entertainment is. This way you could be inside the glass and still at least see and hear the entertainment at the same time and everybody will see the entertainment that way. That's the big plus, I think out of the whole thing. You're not blindsided by the way we are now. Mr. Moller: Yeah, I mean like right now we have our Music On The Patio standing in front of a glass door in a corner. Mr. Rysztogi: It looks... Mr. Moller: Yeah. Mr. Rysztogi: Never mind. Mr. Dale: What do you think, Denise? Ms. Yelvington: I think it is fantastic. Mr. Rysztogi: If I'm sitting in a restaurant and I'm looking out at the golf course at the starting tee or whatever you call it, the starting building, it doesn't block my view in any way? Ms. Yelvington: No. Mr. Moller: All it is, is just the patio. Mr. Rysztogi: Because you're high enough up. Mr. Moller: Yeah, just the patio with railings. Worst case scenario, if the shades are up because of the sun, it might block your view of the driving range tee and the 18th hole, but you really can't see that from the restaurant anyway. Mr. Rysztogi: Right. Ms. Yelvington: My only thinking, is that we need a more powerful fan out there for that large of a space, to keep air moving. I don't know if that's part of the plan, but I would think we would need to keep the air circulating. Mr. Dale: Think about those mister systems. Ms. Yelvington: I love those to some extent, but not everyone would like that. Ms. Webb: Well, we could put one in that corner when the music's not there. Ms. Yelvington: It would be good to have it somewhere, if you wanted, that you could go cool yourself off and then go back to your seat. So, it would be good to have maybe that in some location, but even like a big fan that move massive amounts of air, would be a good thing, I would think, even for the golfers coming off of the golf course. Mr. Dale: Right. Ms. Yelvington: To just have air circulating. Mr. Rysztogi: What are you doing for lighting? Mr. Moller: I haven't thought that far. But initially I was just thinking if you just kind of ran those bulb lights around the outside of it. Ms. Webb: They have so many nice solar power lights now, that you can get, that are very powerful. Mr. Moller: Oh, and one other thing that I forgot to add. This would also include running water out to the existing bar now. That's one of the things with the outdoor bar that we ran into issues with, because there was no running water. So, for sanitary purposes, the servers cannot wash their hands and things like that. So, we would have running water to that bar. Mr. Dale: Which is why we use the temporary sink whenever we have events, so we meet the Health Code. Ms. Yelvington: That area stays in place. Ms. Webb: It would get more popular. Mr. Moller: It would open up more uses for the bar too. Mr. Dale: More uses for the bar. I've had a thousand comments made and we used to get it from one of our ex-Board members, but he was there when we designed it. That outside bar was never designed for weekly use. It was designed for special events. That's the way the contractor presented it to us when we first put it up. But now what you're talking about, is having the option to be able to utilize it. I assume we would have somewhere for storage for liquor, so we don't have to schlep stuff back and forth. Mr. Moller: If we get to that point, Yes. Mr. Dale: Okay. Mr. Moller: I've already brainstormed and we've come up some ideas for liquor storage and cabinets out there. Mr. Dale: Right. So, we're talking about really turning that into a functional full-time space, if we choose to do so because of staffing issues. If it makes fiscal sense. Mr. Moller: Yeah. Honestly this patio, I wasn't doing it, to promote more use of the bar, but the fact that it's there, we can use it if we need to. Mr. Dale: Gotcha. Then the other question I have for you, is in your study, what I heard you say and correct me if I'm wrong, I'm just seeking clarification, for your ROI calculation on this, it didn't utilize the full year. Mr. Moller: No. Mr. Dale: In other words, what did you exclude? Did you exclude the Summer months? Mr. Moller: I excluded pretty much all of the Summer months except for Friday and Saturday nights. Even that I only did like 25% capacity for those. Mr. Dale: Right. Mr. Moller: Basically, I used December through April and then I only used 30% of them. Mr. Dale: So, in other words, where I'm going with this, is you were very conservative with your estimates on return. Mr. Moller: This does not include special events or functions. If we should happen to do a private function, such as the teachers want to have an event there or we want to do one or two small weddings, between the venue space rental and the food and beverage revenue, that ROI goes a lot higher. Mr. Dale: That was another question that I had. What do you consider special events? It sounds like we're considering the possibility of opening ourselves up to allowing weddings. What do you think? Mr. Moller: We would have to do a max head count. So, if we say 50 to 75 or whatever the case may be, that would be what we can service. Mr. Dale: So, you're saying like small scale weddings. Mr. Moller: Yes. Mr. Dale: Nothing big and not as a primary source of revenue or anything, just something additional. Mr. Moller: I didn't include that at all. Mr. Dale: Then special events also mean what? Parties? Mr. Moller: For instance, for the White Cap tournament, they usually have to rent a tent, so they have enough room for their party. We can now house them. Mr. Dale: We'd be able to put them all on the patio. We wouldn't have to have a big old tent in the middle of our thoroughfare. Mr. Moller: Correct. Mr. Dale: Alright, interesting. Ms. Webb: It’s a lot better looking for events. Mr. Dale: Right. It's more professional, is what I'm hearing. Alright, interesting. At this point in time, what we could do, is give Jim essentially a consensus to move forward. It doesn't require a vote? Mr. Showe: No. Mr. Dale: I guess my question right now, is there any Board Member that would not want Jim to move forward with getting actual quotes, with the assumption that we like everything we've heard? I'm not asking for a commitment on this, I'm just trying to gauge the level of support from the Board at this point in time. Ms. DeVries: I like what I've heard; however, with any capital investment, I think this should be part of a strategic plan. The way that I think of it is that it's more of a phased approach and I think we should pick one that we want him to address first. Once we get that going and successful, then I think we then start looking at the second one. That's my take. Mr. Dale: Let me quickly ask along those lines, are there any economies of scale to look at, in other words, like when we hired… Mr. Moller: Mobilization fees and things like that? I don't know that. Mr. Dale: Well, I don't know if that's a mobilization, but getting your manpower there. In other words, it was cheaper for us to do a lot of the stuff with Landirr in bulk than piecemealing it out. Mr. Moller: I don't believe so, because they're two different projects. But I will get a firmer answer to that, once I get more precise quotes. Mr. Dale: Okay. Alright. Bill, do you have anything you want to add? Any thoughts? Mr. Macheras: No, I mean, I'm like everybody else. I think it's great. I like the idea of utilizing the fund, as the old cliche is, it takes money to make money. I'm just going to throw this out there, if this goes through like we think we're heading towards and it does what we hope for it to do, for those few naysayers, you got to remember, and I hope I wrote these down right, in 2021, the budget was $229,000. They didn't have the funds to do anything like this and I'll be honest with you and you mentioned it earlier, Rob. I attended a lot of those meetings as a member of other association, so I know what was going on. I didn't even get the feeling during that time that there was any of this, that the other Board cared to do. So, if there are any naysayers, the budget now is $1.4 million. We're looking to utilize that money in a positive manner and I think Jen said the same thing. So, again, I appreciate the idea. I appreciate not only the idea, but what it looks like we can do for the community and that we're at a place, an appointed time, with this Board, that we can do this and continue to upgrade this for the entire community. Mr. Dale: Yes. What are your thoughts along the lines of what Jen had to say? She sounded like she'd prefer to focus on one over the other. What are your thoughts there? Mr. Macheras: I agree. I think for sure that the simulator will generate money. The other is we hope to build it and they will come, so to speak. But just thinking for myself, anywhere that we might go out to partake in an evening dinner or an activity, depending on the weather, 90% of the time, I want to sit outside. I think we all know from pictures that most of us have taken, there's not a better sunset, I think, in our area. So, I'm good with both. Mr. Dale: Yeah and the reason I ask that is, what I don't want to do. I want the Board to give him clear guidance. I'm not picking one or the other or saying one idea is better than the other, but whatever we do, I think we need to clear with Jim that we're leaning towards just doing one project or we're looking at doing both projects. Whatever we wind up doing, is fine with me either way. We're going to have trouble with contractors wanting to work with us, though, if we're out soliciting quotes for something that we really don't intend on doing, you know. Mr. Macheras: Well, again, I see what you're saying and that's a good point. I would certainly lean towards the simulator, because, again, I think we're going to see an ROI come around pretty quickly. If we want to see what that generates, in a certain amount of time before we move on the other, I’m like you, Rob, I would be okay with that. I don't know if that answers your question or not, but I do see a difference in it, too, as far as, I feel we'll see money come back more often with that simulator than maybe with the other. But that's something we don't know until we approve and build it, to be honest. Mr. Dale: Right. Mr. Moller: I think it's just easy if I go to the contractor that gave me the quote and then get a second quote. Mr. Macheras: Right. Mr. Moller: And just say, “I want a quote for both of these, Phase 1 for the simulator and Phase 2 for the patio,” I think they'll still be fine with giving me a quote. Mr. Dale: Okay. Alright. Mr. Showe: We’ll certainly have a price at the same time and then separately. Mr. Dale: Yeah. I would like to know if there are economies of scale, like I said, because we're already going to have the framer. If having him there for two weeks is going to be a lot cheaper for us, then we want to know that. Denise or Ron? Mr. Rysztogi: I am not really the person to talk to when it talks about this simulator, because I don't really have enough knowledge about that. Mr. Dale: Yeah. Mr. Rysztogi: But I am strongly in favor of the deck. I think that's a great idea. It solves so many of our problems. Personally, I would hate to see the deck be delayed, just due to the fact that I think the restaurant benefits the way the restaurant is run now. It would benefit just having that deck that there, whether or not we utilize it with more people or not. as we have an entertainment space which would be a big deal. I can't speak on the golf side. Mr. Dale: Gotcha. Mr. Rysztogi: I'm blank on the golf site, but I'm a big fan of the deck. Mr. Dale: Denise? Ms. Yelvington: I would rather us go under construction once than twice, however we do it. Mr. Dale: Okay. Jen, did you have anything? Ms. Worshel: I love both ideas, honestly. Mr. Dale: Okay. Thank you, Ms. Jen Worshel, our Restaurant Manager. Well, at this point in time, it seems to be the consensus of the Board for Jim to get quotes on both and inquire into some of the things that we talked about and let's see what we come back with. Let's get some hard numbers. Mr. Moller: Thank you. Mr. Dale: Alright. Do you have anything else? Mr. Moller: That’s the end of my report. Mr. Dale: Okay. I want to thank Jim. I'm going to make the Board aware that Jim and I attended a couple meetings over the past week, including a County Commission meeting on Tuesday. I spoke before that, regarding the issue that we have with signage and that kind of stuff. I guess where I'll leave it, is we will find out for sure in August, but we did get a very favorable 5-0 vote from the County Commission in support of allowing what we're looking for to move forward. So, that was a very positive development. We also did attend a meeting that Senator Mayfield attended and she asked me if I was attending for the wall. Jim attended that meeting also. Jim, correct me if you think my interpretation is wrong here, but kind of what we seem to get from the transportation folks. They were being very polite and didn't want to shoot anybody down, but it was sounding like we're looking at a 10-year process to get a wall. Mr. Rysztogi: I sent an email asking how long it was going to take to do it and they were talking about an interim solution. Mr. Dale: Well, the interim solution was, when I started getting the vibe that we were talking about a very extended period of time, because they were going to be doing studies for three or four years. I was like, “Yep, we're not getting a wall anytime soon.” So, I started inquiring about alternative solutions. Mr. Rysztogi: Bamboo. Mr. Dale: Bamboo. I kept using the Fisk interchange as an example. I will tell you, that seemed to be very favorably received by the transportation folks. In fact, the one lady that works for the county, started writing it down and she said there may be different pots of money we can go to for this, because they can utilize beautification funds for something like that. It's not all transportation funds. So, I'm hopeful they're going to look into the stuff and in the July, August time frame, maybe we'll get a little better feel for if there's something a little quicker than 10 years that we'd be able to look at. Mr. Rysztogi: That's the opinion I get that they wanted to proceed with a different material. Mr. Dale: Right. What I kept telling them was that the bamboo at the Fisk interchange exit, is bigger than a wall. Mr. Rysztogi: Does that affect our golf course in any way? Mr. Dale: I did make the comment that we would not want any kind of deciduous tree that would be blowing leaves and debris all over our golf course. It does seem that bamboo is the leading candidate, but I'm not the expert. Jim was very useful at that meeting. Everybody was talking about it. I said, “Well, you know, it sounds like what we need here is an expert.” Fortunately, we have one in the room. So, Jim did add his two cents to the meeting and it was very, very useful. Mr. Rysztogi: Good. Mr. Dale: So, we may come away with half a loaf on that. I don't know. We'll see what happens. Mr. Rysztogi: Ms. Debbie Mayfield was there? Mr. Dale: Her aide, Will was there. Mr. Rysztogi: Okay. Mr. Dale: He communicates everything back to the Senator. Mr. Rysztogi: They were up to speed on what’s going on. Mr. Dale: She was making it a priority and everything, but it sounded like we were talking tens of millions of dollars for a wall that just isn't there. They had printed off of a newspaper article from Florida Today that said that the State is $2.1 billion short for roads and construction. Then they started talking about people dying at the Eau Gallie interchange and Malabar interchange and that's the priority right now. Mr. Rysztogi: Yeah, I wouldn't hold my breath. Mr. Dale: Yeah. Mr. Rysztogi: I don't see that in my lifetime. Mr. Dale: Right. So that's kind of where we were at. I just wanted to add that to your report, Jim. B. District Manager’s Report i. Discussion of After Hours Event Mr. Dale: Moving forward, District Manager. Well, actually, one last thing that I want to add, we have our Restaurant Manager here. Jen, the number that we just heard was $10,000 profit last month. So, thank you on behalf of the Board of Directors. Please share that with all of the employees. We now have three months of very solid numbers that have come out of the restaurant. I know last year we had all sorts of obstacles and none of that was any of your fault. That was from years prior, where that shortfall came from. You and the staff have been working exceptionally hard and we appreciate that. We appreciate the profit numbers and thank you. So, with that said, District Manager’s Report. Mr. Showe: The only update that I have, is you should be receiving or should have already received your reminder to fill out your Form 1s via email. If you haven't, please let us know or you can contact the Department of Ethics. But those are due July 1st and it's the same electronic process as before. They should have contacted you via the same email that's in their system. I would encourage you, if you want to go do that, just wait a couple days. We've had some folks that have tried to put it in and they are apparently having some challenges with the system. Mr. Dale: Oh, God. Mr. Showe: So, it might save you a little bit of a headache. I managed to get mine in, but there were some snags along the way. So, maybe give them a couple days to see if they can work out or let some of the traffic go down. We'll keep reminding the Board, but the date is July 1st. They won't start finding you until September 1st. So, we start checking all of our Districts after July, to make sure we try to get everybody through the process. That's it. C. Lifestyle/Marketing Report Mr. Dale: Lifestyle/Marketing Report. We're at 8:40 right now. Ms. Webb: I really don't have a lot. I'm adding trivia every opposite Tuesday from Salsa Night. Salsa Night is twice, the first and third Tuesday of the month. So, we're going to try the second and fourth for trivia. He comes highly recommended. He does it at Hogan's. He's got a following. I've actually seen people already on the post that I've done on other sites say that he's really good and fun. Mr. Dale: I've had people on Viera Vibes from our community, talk about him. Ms. Worshel: Yes. I've had tons of people call already. Ms. Webb: Yeah. So, I think he's going to bring a good crowd. He's old school. He doesn't use the computers. He puts it on a whiteboard. So, I got him a whiteboard. He already sent me pictures. He's got it set up. He said him and his wife do a fun thing. They're retired, very nice people. So, we're going to try it out. I wanted him to do Wednesday, but he already does Wednesday at Hogan's and he fills their restaurants. Ms. Yelvington: I think I've seen him at Hogan's. I think I've played Hogan's. Ms. Webb: So, I heard really good things. Ms. Yelvington: We did win. Ms. Webb: Everybody keeps telling me that he's fun. You put your money in, but then he gives the pot to whoever wins. It's kind of a betting thing, but as long as we don't make a profit and as long as there's no betting to it, we're good. His awards are like $20. Mr. Dale: You do bring up something. Are there 50/50 drawings or anything? Ms. Webb: No. You don't keep any money. Mr. Dale: Okay. Because that is an issue. Ms. Webb: It's not 50/50. I already asked him. Mr. Dale: Okay. Ms. Webb: All of the money he collects, go back to whoever it is. As long as they're not making any tips off of it, they don't bring anything and we don't make anything. But he said, no, it's a bag of money. It's like if you put $5 in, you get a ticket. So, if you put $10 in, you get two tickets. So, it's a draw. Mr. Dale: Jason, does that sound kosher to you? Ms. Webb: It's not for us. It's for them. All of the money goes back. It's called A Bag of Money. Mr. Showe: I would probably refrain from doing that. Mr. Dale: Do me a favor, the two of you off meeting, please coordinate. Mr. Showe: Yeah. Ms. Webb: Nobody profits. It just gets back to wherever it is. But that's what he does, and people like it. But it’s not cheap. The maximum that he gives out is $30 and it's more of a beer tab and a food tab. That's it. I think he's going to bring in more than what we have to spend. Mr. Dale: Good. Ms. Webb: The only other question I asked you guys, I don't know if you guys talked about this before I got here. You know who, has been posting again on social media, and it's caused a couple of stirs of people sending emails, making a response and asking questions, like people in our District saying, “Hey, is this going on?” I know that we didn't want to use the CDD site as a way of responding or posting anything about it, but I do think we have to have an outlet. I think you guys have seen that I'm gracious when I respond. I don't say negative, negative things, but I think we do have to have a way of responding to it without posting on his site on there and say, “Go to this site,” because then people will go to that site. But I do think if he's going to continue to do this and only give half information, I think we need to give the information. Mr. Dale: So, in other words, what you're talking about, is quoting what is said. Ms. Webb: Yes. Mr. Dale: Without acknowledging where it came from or anything like that. Ms. Webb: Right. Like this quote has been referenced out there in social media about the Vera East CDD. It says, “I want to clarify this as blah, blah blah and if you have any further information, reach out to them,” because I think it's going continue to keep stirring, if they don't know that they can go back to this site and get the real information. Ms. Yelvington: So, I would say to that, you don't even need to quote it. You could just as easily post actual facts on the CDD site, in response to that other post. They wouldn't even need to know what's being stated. Ms. Webb: Right. Mr. Dale: Well, here's the issue. I know that the Board received the letter that I sent to the resident that wrote me, in regard to what was written on the other site. I had two or three other instances in the past week. One of them, Jim, was there. We were at the county complex, and we got caught by a resident of Canterbury who asked, “Is this true about blah, blah, blah, blah, blah.” They were actually considering moving. I mean, it was to that level. It's on them if that's what they were considering doing. But it's to the point now, where we're a year and a half down the road. We were hoping that the problem would just go away. Well, the problem's not going away. The problem is getting worse and we're getting residents now believing a lot of the nonsense. Ms. Yelvington: I totally understand that point. I'm just saying we don't necessarily have to highlight his to be able to state the facts that counter his. Ms. Webb: I just don't want people randomly posting this thing up, because it was basically saying that we're giving donations to schools. Well, it's actually ad sponsorships that we're buying. I will tell you that the ad sponsorships that I bought for area schools around here, have already generated revenue. So, we did one at Rockledge and Bayside. Mr. Dale: Have they already generated revenue or paid themselves back? Ms. Webb: Well, they paid themselves back. Mr. Dale: Okay, thank you. I want a clarification. Ms. Webb: Bayside actually came and did a golf tournament for us, because of that. Rockledge, we've already had people coming in from that. They said that they've seen it. What we do for McWilliams, they come in all the time with the teachers and they do an end of the year party. So, his statement that we give the taxpayers money, the taxpayers are worried that we're just handing out all this money to them, but they don't understand it's ad sponsorships that create banners that are hung up on their fences that generates people coming in. Mr. Dale: Right. Mr. Moller: I do want to correct what you said. It wasn't Bayside that we just had. It was a different volleyball team. Ms. Webb: It was a school. Mr. Moller: The AD reached out to me and wants to do something next summer for the entire program. Ms. Webb: Yeah. So, we're getting a lot of schools, because of our influence at these schools with banners. Ms. Yelvington: Right. So, because of the current issue, maybe you highlight his and you say the proper facts. Ms. Webb: Right. Ms. Yelvington: But if this is a continuing problem, where we have one person over here saying half the story, we could easily be telling the whole story on our page without highlighting that. Ms. Webb: As long as you guys are good with it. I know before, we would just be silent about it, but because people are thinking, “Oh, you guys are just handing these schools money and not giving it back to us.” I’m like, “No we're buying sponsorships which create ads that go in their newsletters that go on the signs that are posted on their fences.” For people that are listening to this, they need to understand that we can't have a sign out on their fence without a sponsorship. It's advertising and they put in their newsletters as well for those programs. So, it's a cheaper way for me to even do advertising. Mr. Showe: It's a marketing effort. It's not a donation or a sponsorship. Ms. Webb: I probably gave it wrong when I submitted, because normally my stuff goes under miscellaneous, so they probably just put it as a sponsorship or a donation. Just give me the right codes and I can make sure it codes it correctly. Mr. Dale: Well, Jason, I think you were going to comment on that. Ms. Webb: Yeah. Mr. Showe: So, Jim and I had a conversation on those. Because some of the marketing efforts come out of the General Fund and these got coded to the General Fund, Jim and I felt like it's more appropriate to move some of those to the golf course, because there are specific marketing efforts that benefit the golf course. That way, again, it goes back to the golf course being self-supporting, self-generating and those efforts will support that. Mr. Dale: Well, it ties to the big question that I had as a result of all of this, which is addressing the accusation that taxpayer money was utilized for charitable contributions. The way I responded online and you tell me if I was right or wrong, but this is golf course profit money that was utilized. It was not CDD, non-ad valorem tax money. Mr. Showe: Correct. That's what Jim and I talked about upon looking at it. We're going to recode those from the General Fund to the golf course. Mr. Dale: Right. Mr. Showe: But this was a golf course marketing effort. Mr. Dale: Right. So, in other words, just to be crystal clear for the minutes, there was no non-ad valorem, CDD tax money utilized for charitable contributions. Mr. Showe: Correct. Mr. Dale: Thank you. Ms. Webb: Yeah. So, I just want to make sure that's very clear on the record, because anything that I do that's school or community related, sponsorships is generally based off of advertising. Mr. Dale: Right. Ms. Webb: It's a revenue based on what I see. Everything I've done actually through the schools, have brought us money, brought them to come in. I want that to be clear, because what he's indicating, unfortunately on this page, is not true. Mr. Dale: I guess kind of where I'm at with it, is we're playing Whac-A-Mole. One month we aren't doing fire management the right way, which was absolutely ludicrous because it's something he voted for multiple times and he knows he's not being truthful with it. But regardless, I don't want to play Whac-A-Mole with somebody. I don't want to keep bringing this stuff up at meetings. I don't want to respond in a meeting to him. I believe the best way that we can address this, is through social media and along the lines of what Denise said, we just say whatever the topic du jour is, whether it's fire management or the restaurant profitability or whatever silly thing is being brought up for the month that isn't truthful. We just handle it on social media and say, “By the way, this is what the restaurant did this month or this is where they're at year to date or this is our fire management policy or those kind of things.” Michelle, is that what you're asking? Not that you need a vote, but you just want to know, if the Board is behind you, if you start doing something like that? Ms. Webb: Correct. That's all I want to know, if we can use our Viera East CDD site to respond to these. Mr. Showe: Just send me what you want and we'll edit it. I think we can even keep a running list, just so that we have a place for that. You don't even have to put out that post. Ms. Webb: Right. Mr. Showe: You can just go, “Hey, residents, see the latest updates from the CDD here.” Then you can link it and it's all right there. Mr. Dale: Right. Mr. Showe: If you see somebody you know, you could even send a message. I know you're sending messages to folks sometimes that respond. Ms. Webb: Yes. Mr. Showe: You could just send them that link. Ms. Webb: Right. I can say, “I saw that you posted on this account. Here's a link.” Mr. Showe: I think that makes it cleaner for you if and then we have one place where all of these things are kind of just in a running list. Mr. Dale: Right. Kind of a rumor mill type ledger of lists. Mr. Showe: Yes. Ms. Webb: Yeah. Ms. Yelvington: We’ll have to come up with a marketing title for that. Ms. Webb: I have a couple. Ms. Yelvington: Yeah. Mr. Macheras: A couple of quick things. I agree with what's been said. I don't ever let anybody else's behavior dictate my attitude. One thing, like Michelle said earlier, for the record, we've got an individual that has never been to a meeting since he left the Board. He never reached out to us. This site blocks everybody, so we cannot respond. Thankfully, we had numerous residents that understand what's going on and they share that with us, so that we can respond. If anybody can find, which I can't because I've been blocked, my wife's been blocked, my 90-year-old mom's been blocked, anything on something that's titled based on our community, that has ever had anything to do with our community, like a golf course, Hook & Eagle or Woodside Park, please let me know. I'm going to differ a little bit. I don't have an issue that we don't have to mention, as people know who it is. With what I just stated, I'm not a super intelligent guy, but I'm going think it's more of a personal thing than a professional thing, because if an individual was concerned, they want to say, “Hey, Bill, what do you think?” So, that I can respond. I don't have an issue letting residents know that we're having to respond this way, because of certain social media sites that have blocked us and we can't respond. I'm like, Rob, we're not going to do every Willy Dilly thing, but some of these things that you discussed, Michelle. When you've got four or five people that meet you downtown, meet you at the Clubhouse, we need to get out there. Listen, we still got people that know the difference between VECA and the CDD and we have new people coming in all the time. So, I got no problem. I'm just putting it out there that if you start with a statement, “Hey, there's some things going on that the powers to be, however you want to word it, had been blocked. But we owe it to our residents to respond and here's where you can get that information.” So, I personally don't have a problem with that, because that is why we're responding. Otherwise, we would have responded on that. But anyway, that's, that's my two cents. Ms. Yelvington: I would just say, he's a person that likes attention and I would rather he doesn't get it from us. Mr. Dale: Yeah. Ms. Yelvington: We don't reward bad behavior. Mr. Dale: Right. Ms. Webb: Yeah. I would only pick those. I'm not going to respond to every single one, because it doesn't matter on every single one. But when you start hearing from people going, “Should I move,” we don’t want that. Mr. Showe: There are certain ones that rise to a level where we feel like we should. Mr. Dale: Right. I guess when you get four or five people in the course of a week coming to you. All I envisioned was the little old lady that lives in one of the apartments that essentially eats peanut butter and couldn't afford anything, making a comment and thought what was being put out there was the gospel, when he was totally lying to her. But I felt for her and all that did, is instill fear in that resident. I do think we have an obligation to counter certain things like that. You don't let people be afraid that we were jacking up all of their taxes and fees, when in actuality we're probably the only local government entity that's decreased their taxes 26% over the past couple years. Ms. Webb: Okay, so everybody's good if I do respond to it in social media. Do you want me to respond first? Mr. Showe: Yeah. That way we can take a look at it and then simultaneously you tell me when you post it. We’ll keep a running total on the website and just keep it updated. We'll just add to or we can move them down and keep the old ones at the bottom. Mr. Dale: Collaboration of you and the District Manager. Ms. Webb: Then the only other thing I was going to discuss, was the newsletter. It's about that time of our annual newsletter. I know sometimes that it takes a couple of months to get everybody's collaboration on it. I don't know who wants to pick what parts of what that they want to put in it. Mr. Dale: Well, Jen, do you want to take the ball on the letter from the Chair of the Board? Ms. DeVries: Sure, I can do that. Mr. Showe: She sounds so excited. Mr. Dale: Yeah. Ms. DeVries: I can do the letter from the Chair. Mr. Dale: The only thing that I would add is, whatever the word count was on the last one, I don't think we could have fit in like but maybe three more words. So, I would use that as a benchmark for your word count. Ms. Webb: The front runner is the letter from the Chair. Then we have the physical. report. Then we have the Viera East golf course. So, whatever you want to put on the golf course. Then we have the Hook & Eagle. Whatever you want to say about the Hook & Eagle. Then we have Woodside Park, the dog park, the park sponsorship program, which three more people asked me about that this week, so that's good. We also have the Farmers Market, firebreak management, I don't know if those are what you want, the yard waste, the waterways and then we also have who managed what. I think we probably should keep that in there every time we put it out there. Mr. Dale: Yeah. Ms. DeVries put that together. Ms. Webb: That's what it consists of. So, if you guys think of something that doesn't need to be, I can send out a copy of what we put out last year. Ms. DeVries: Speaking of which, I talked about the littoral shells in that article. So, we need to talk about that one. Ms. Webb: Yeah, so if we want to add anything or take out anything, let me know. Do you guys want me to send a copy? Mr. Showe: Well, I was just going to mention that. If you want to send me a copy, I'll circulate it out to the Board. That way we can all take a look at it. Ms. DeVries: The concept of the article, was that we were responding to things that were happening. Mr. Showe: Right. Ms. DeVries: So, for example, we were responding to that incident that we had with the flooding. I think part of this, is just thinking through as a Board what it is we want to talk about this year. I don't know if we have the same articles over and over again. I think we could have some new stuff if there's something new that we want to talk about. Mr. Dale: Yeah, I think the general breakdown, the waterways, fire management, restaurant, golf course Chair letter, all of those kinds of things where you talk about profitability and everything to dispel any rumors that we're not making any money. I think talking about those things are fine, but they don't have to be in the same format. In other words, if we talk about water management, maybe we talk more about littoral shelf. We don't have to talk about keeping the refuse off of your storm drain this time. Ms. DeVries: You might. Mr. Dale: Yeah, maybe we do. Mr. Showe: That's probably our solid reminder every year. Mr. Dale: Yeah, it is a good solid reminder. Ms. DeVries: Maybe we talk about algae. That seemed to be something that came up. Things that have come up for us. Mr. Dale: Right. But yeah, like you said, I think you're onto it. I think we have the same kind of subcategories, but let's make it pertinent to this year. Mr. Showe: Certainly, if we know going into it, that we're going to be doing improvements or upcoming things at the golf course, it's a chance to re-advertise. Mr. Dale: Yep. Funny you mentioned that. We could sell advertisements. Ms. Webb: Well, so we talked about this before. I do have a couple people that said that they have to offer something back, like $5 off storm shutters or whatever. Because that's what we talked about two years ago, that we're going to do a sponsorship or advertising in there and they had to give something back. Mr. Showe: My only concern is that once you open it up, you're opening it up for everybody or you're going to have to make individual decisions on which types of businesses you want. It could blow it up more than it's worth. Mr. Dale: Well, you two have that discussion off meeting. I get you. I'm just trying to be entrepreneurial here, but I get what you're saying. Mr. Showe: I'm not sure that the juice is worth the squeeze on that. Mr. Dale: Yeah. I get you. Because I think it costs roughly about $5,000 to send the thing out to the entire District. Actually, it does. Don't we send it to the voter roll or what do we send it to? No, it's a CDD tax roll, is what we send it to. Mr. Showe: We use the property addresses. So, it goes to properties, not the owners. Mr. Dale: Right. So, the number of households will be the same. That won't go down, because of the large voter roll change that we got last month. Mr. Showe: It goes to each property. Ms. Webb: We're still waiting on the logo. He sent me something and we sent it back, showing them what we like. I talked to them and they’re still working on it. Mr. Dale: Has he sent you anything since I talked to him? Ms. Webb: No. Mr. Dale: Okay. Because I had a good talk with them about Nike Swoosh. Ms. Webb: Listen, everything that they sent us, was probably what we could have used. Mr. Dale: It’s all singular. Not ducks and swans. Ms. Webb: So, those are the things on my list of what I wanted to bring back up. The newsletter is due. I responded to him. Our new event that we're going to try out, is on Tuesday nights from 6:00 p.m. to 7:30 p.m., by the way. Mr. Dale: The new trivia. Good. The girls will get out of there at a reasonable hour. Okay. Thank you, Michelle. EIGHTH ORDER OF BUSINESS Treasurer’s Report A. Approval of Check Register Mr. Dale: Treasurer's Report. Mr. Showe: Sure, I can run through this quickly. We have your Check Register. In your General Fund, we have Checks #5421 through #5454 and Checks #32537 through #32619 for the Golf Course Fund, for a total amount of $379,343.69. Following that, is the Summary of Invoices. As we talked about earlier, we're going to go ahead and reclassify some of the sponsorships over to the golf course, so that those get cleared out and put in their proper place. Again, that happens from time to time with invoices. They just get put in the wrong place and we move them. Mr. Dale: Right. Mr. Showe: Other than that, we can take any questions or comments or a motion to approve. Ms. Yelvington: I just have one quick question. The Air2G2 rental, that's in May, is that for the upcoming thing that you said would be in June? Mr. Moller: No. Ms. Yelvington: How often do we do that? Mr. Moller: I try to do that four times a year. Ms. Yelvington: Okay. Mr. Moller: In conjunction with just a solid tine aerification. It just gets more air down in the root system during the peak season, so we’re not struggling to find services. Ms. Yelvington: So, what was the thing you said you were doing the week of June 2nd? Mr. Moller: That's core aerification. So, we have machines on property. We do everything in house. Ms. Yelvington: Okay. That's all I had. Mr. Dale: Jen, go ahead. Ms. DeVries: Okay, so I had a couple of questions on the April 16th charge for Regions Bank. Why are we paying $106.59 in interest? Are we not paying our bills on time? Ms. Yelvington: We've asked that question before. Ms. DeVries: I know and the last time, GMS, I think, said that they would pay the interest or fees or whatever, because the bills weren't getting paid in time. But I'm not asking for that. I really just want the bills to be paid in time. Ms. Yelvington: Right. What date was that? Mr. Showe: Let me find out. Ms. DeVries: Okay. The other question that I have is for Jim and you may have told us this, but why are we charging food to the Region's credit card? Shouldn’t we be using Cisco or a Cheney or something like that? I see that on April 22nd and May 1st. Mr. Moller: Yeah, there's usually a bunch of just odds and ends that they need to run to either Costco's, BJ's, Winn Dixie. Just things we might run out of. Things that we don't need to buy a lot of just odd and end purchases. The Hook & Eagle has their own card through Regions for that. Basically, they're not taking cash out of the till. Mr. Dale: It's like if we run out of hamburger buns. Mr. Moller: Correct. Ms. DeVries: I saw things like lettuce and vegetables, stuff like that. Mr. Moller: There was more than normal with the changeover and the new ordering. We had run out of some things. So, they had to go run and get some stuff. Mr. Dale: When we lost our Head Chef. Ms. DeVries: Okay. I got it. Alright. If we need to do that, we need to, but I would think that would be cheaper from Cisco or Cheney. Mr. Dale: Jen, I agree with you 100% and I've approached Jim about the same thing. He's had a number of discussions with our Restaurant Manager about that. I hear you and I'm with you. Ms. DeVries: Okay, thank you. Mr. Showe: We would need a motion to approve the Check Register. On MOTION by Mr. Macheras seconded by Mr. Rysztogi with all in favor the Check Register for April 16, 2025 through May 15, 2025 in the amount of $379,343.69 was approved. B. Balance Sheet and Income Statements Mr. Showe: Behind that, is your Balance Sheet and Income Statement for April 30, 2025. No action is required by the Board. It is there for your information. Just let me know if you have any questions. But we are at 98% collected on our assessments, so obviously we’re in great shape there. Mr. Dale: Okay. NINTH ORDER OF BUSINESS Supervisor’s Requests Mr. Dale: Okay. We’ll move into Supervisor’s Requests. Bill? Mr. Macheras: Yeah. Just two quick comments and I appreciate you all allowing me to phone in tonight. I just want to thank Jim for including percentages. You know, again, I think of somebody that might not know anything about tracking. Let's say a kid ran a 12:5, 100-yard dash and nobody knows what that means. But if I said I beat 98% of all the other kids in the country, it means something. So, when he throws out increases and percent, I'm not a finance person or a tax person, like the rest of the Board, but a percent to me, just defines how well we're doing or if we're not doing well versus just a number. I just want to second what Rob said earlier. I appreciate all of the discussions tonight. I've got Ron, that lives in an area that wants a fountain. We have Jen that lives in an area. We're about talking about music. I think we know what happens when you have a Board where all five people live in the same area or think the same thing. You don't really do stuff for the residents. So, I appreciate everybody's input and I think that's what moves us to continually try to do what's best for our residents, because we come from five different angles. I think tonight reiterated that. So that's it. I appreciate it. Mr. Dale: Thank you, Bill. Jen? Ms. DeVries: I just have one. Well, I guess I have two. One is, I saw that the telephone charges are $7,000 over budget. Is that right or are they just, like, going in the wrong place? I'd like Jim to look into that. Mr. Moller: I think they’re going in the wrong budget. Ms. DeVries: Okay. That would be my guess. The other thing is, I just wanted to really give some kudos to the restaurant. I don't know if Jen is still there. Mr. Dale: She's indisposed at the moment. Ms. DeVries: Okay. Well, it's hard to give kudos if she’s not there, but I just want to say, well, the $10,000 profit is awesome. Now overall, it looks like for the year, the restaurant has a $4,000 profit. That is the first time we have seen a profit since we started this four years ago. So, I just really want to give high praise to her and thank the whole restaurant team for that. Mr. Dale: Could you say that one more time, Jen? She just walked back into the room. Ms. DeVries: I just want to say that first of all, the $10,000 profit this past month, was awesome. I also noticed that for the year, we have a full $4,000 profit. That is the first time we have seen a profit in the four years that we have been doing this job and I just want to give high praise to Jen and the whole restaurant team. Thank you so much. Ms. Worshel: Thank you, Jen. (Applause) Mr. Dale: I believe that's the first time anybody has gotten applause at one of these meetings. Alright, thank you, Jen. Ron? Mr. Rysztogi: I have really nothing to add, other than it was really nice to have four residents come out to our meeting. When you see residents, they're usually here to complain. All four residents came to compliment the Board and it felt good. Mr. Dale: That was very refreshing. Ms. Yelvington: Yeah, that was very nice to hear. Mr. Rysztogi: You don't usually get that. Mr. Dale: Yep. I appreciate all of them. Mr. Moller: Can I add something to Jen's praise?. Mr. Dale: Yes. General Manager, what would you like to add to the Restaurant Manager? Mr. Moller: The running total nets for the restaurant over the last four years, in Fiscal Year 2021-2022, as of the end of April, they were at a deficit of $20,000. In Fiscal Year 2022/2023, they were in the positive by $588. In Fiscal Year 2023/2024, there was a negative of $61,000 and this year, there was a negative of $5,182. So, we're seeing the best we've ever had after the month of April. Mr. Dale: And again, why $61,000? That was a big chunk. Mr. Moller: That was the inventory adjustment in March. Mr. Dale: Inventory adjustment from the previous couple years that we explained on the website. Mr. Moller: Right. Mr. Dale: You’re doing a good job there, Restaurant Manager. We need you to work overtime, though, the rest of the week. Mr. Moller: So basically, nothing is changing. Ms. Worshel: Exactly. Mr. Dale: Denise? Ms. Yelvington: My only Supervisor Request is the Oak trees at the park. Mr. Moller: I was told that they were done. Ms. Yelvington: They weren't done. Were they along the water line? Mr. Rysztogi: Yeah. Ms. Yelvington: Could you double check? Mr. Moller: Okay. Mr. Dale: Hitting carts? Ms. Yelvington: No, it's blocking view of the Farmers Market. As you're coming in to Murrell Road, the overhang is so low towards the water, you wouldn't know there's a Farmers Market back there. Ms. Webb: Yeah, those up by the road are getting really... Ms. Yelvington: The ones by the road, but I'm talking about the ones not on the road. Mr. Moller: That's where we're different, because the ones on the road were done. Ms. Yelvington: Okay. I'm talking about the ones along the water, if you're coming down Murrell Road. You can't see into the park until you're right next to the park, because the tree line is drooping down. Mr. Dale: I mean, there is only one row, though, the one that parallels the sidewalk is what you're talking about. Ms. Yelvington: Yeah, but along the other edge. Mr. Dale: Not the sidewalk side, but the other side of the tree. Is that what you’re saying? Ms. Yelvington: This is the sidewalk. I'm talking about over here. Along the water’s edge into the park, not along Murrell Road anymore. Mr. Dale: Along Crane Creek, you mean. Ms. Yelvington: I could show you on a map. Anyhow, it blocks the view. I also heard from a few people that we should have some kind of swaying flags. Ms. Webb: We have them, but we get in trouble for them. Ms. Yelvington: We can't put them out on market day, though? Somebody that's doing yoga has one. Ms. Webb: That’s in the park. I put them out on the side of the road. Ms. Yelvington: Even on the day of, we can't have anything coming in? Mr. Dale: Well, a member of the VECA Board complained to the county. Ms. Webb: That was for the golf course. She's talking at the park. When we put the banner up, the HOA President complained and said that we're not allowed to have it up there, even though it is our property. They complained to the Code Ordinance people. So, they came out one to one of the markets and said, “You can't have that.” Mr. Dale: All of that stuff hopefully goes away in August. Ms. Webb: I did buy the flags. I had the flags and put them up there, but the same person came back around again to the market and said, “You can't have them out there, unless they're Viera signs and I’m going to call Code Enforcement.” This was a long time ago. Mr. Dale: From the county? Ms. Webb: I think it was the county. I don't know if he was fire county or Brevard County. He said, “You can't have them.” I have the signage. We just have to get permission to do it. Mr. Dale: Yeah, all of that goes away in August. Ms. Webb: I think it is just people calling in. Mr. Dale: It's harassment is what it is. It's sort of like when we used to get the Sheriff's Department called on us every time we would do something on the patio. Ms. Webb: Yes. Ms. Yelvington: So, here's where I'm talking about. Here are the trees along Murrell Road. Mr. Dale: Are you good with yours? Ms. Yelvington: Yes. Mr. Dale: I don't have any additional Supervisor Requests and would entertain a motion to adjourn. TENTH ORDER OF BUSINESS Adjournment On MOTION by Mr. Rysztogi seconded by Ms. Yelvington with all in favor the meeting was adjourned. Secretary/Assistant Secretary Chairman/Vice Chairman Viera East Community Development District Proposed Budget FY 2026 Meeting Date: June 26th, 2026 A picture containing text Description automatically generated Viera East Community Development District Table of Contents Pages General Fund 1-2 General Fund Narrative 3-8 Capital Reserve 9 Debt Service - Series 2020 10 Debt Service Fund - Series 2020 Amortization 11 Food and Beverage 12 Food and Beverage Narrative 13-15 Golf Course 16-18 Golf Course Narrative 19-25 Recreation Fund Debt Service - Series 2012 Amortization 26 Viera East Community Development District General Fund Proposed Operating Budget Fiscal Year 2026 Adopted Actuals Projected Total Proposed Budget As Of Next Projected @ Budget FY 2025 5/31/25 4 Months 9/30/25 FY 2026 Actuals FY 2024 Revenues Maintenance Assessments $1,392,551 $1,378,973 $1,361,737 $17,236 $1,378,973 $1,378,973 Golf Course Administrative Services $56,280 $56,280 $37,520 $18,760 $56,280 $56,280 Donations for Park Materials $0 $5,000 $0 $0 $0 $0 Miscellaneous Income - Farmers Market $4,166 $20,000 $7,049 $3,524 $10,573 $10,000 Interest Income $1 $100 $12,241 $6,120 $18,361 $5,000 Total Revenues 1,452,998 $ $ 1,460,353 $ 1,418,546 $ 45,641 $ 1,464,187 $ 1,450,253 Administrative Expenditures Supervisors Fees $23,142 $30,519 $16,225 $8,112 $24,337 $30,519 Engineering Fees $16,850 $5,000 $0 $1,000 $1,000 $5,000 Attorney's Fees $6,629 $20,000 $2,988 $1,494 $4,481 $20,000 Dissemination $1,000 $1,050 $700 $350 $1,050 $1,082 Trustee Fees $673 $5,600 $2,694 $1,347 $4,041 $6,160 Annual Audit $13,482 $14,000 $9,774 $4,887 $14,661 $15,022 Collection Agent $0 $2,500 $0 $2,500 $2,500 $2,575 Management Fees $109,754 $115,242 $76,828 $38,414 $115,242 $118,700 Postage $745 $2,000 $10 $500 $510 $2,000 Printing & Binding $380 $2,500 $263 $132 $395 $2,500 Insurance - Liability $9,121 $15,229 $6,507 $3,253 $9,760 $12,804 Legal Advertising $752 $2,500 $299 $150 $449 $2,500 Other Current Charges $1,295 $1,200 $192 $96 $288 $1,200 Office Supplies $1,848 $2,000 $103 $52 $155 $2,000 Dues & Licenses $175 $175 $175 $0 $175 $175 Information Technology $4,605 $4,735 $3,157 $1,578 $4,735 $4,972 Total Administrative $ 190,452 $ 224,250 $ 119,914 $ 63,864 $ 183,779 $ 227,208 Operating Expenditures Salaries $171,624 $178,500 $118,562 $59,281 $177,844 $187,425 Administration Fee $1,053 $1,436 $1,568 $784 $2,351 $1,508 FICA Expense $13,603 $14,155 $9,070 $4,535 $13,605 $14,338 Health Insurance $6,076 $5,000 $930 $465 $1,395 $5,250 Workers Compensation $2,810 $3,790 $1,798 $899 $2,697 $4,169 Unemployment $756 $1,119 $610 $305 $915 $1,119 Retirement Contribution $0 $5,061 $0 $5,061 $5,061 $5,061 Other Contractual $6,541 $10,000 $5,040 $2,520 $7,560 $10,000 Marketing - Lifestyle/Amenities $85,586 $95,000 $58,379 $29,190 $87,569 $95,000 Training $0 $500 $0 $500 $500 $500 Uniforms $168 $0 $0 $0 $0 $0 Total Operating $ 288,217 $ 314,561 $ 195,957 $ 103,540 $ 299,497 $ 324,370 Maintenance Expenditures Canal Maintenance $16,551 $14,000 $0 $14,000 $14,000 $14,000 Lake Bank Restoration $257,423 $164,000 $170,620 $0 $170,620 $164,000 Lake Bank Education Project $0 $3,000 $0 $3,000 $3,000 $3,000 Environmental Services $1,864 $10,000 $0 $10,000 $10,000 $10,000 Water Management System $133,715 $134,248 $78,788 $39,394 $118,182 $143,281 Midge Control $0 $8,000 $0 $8,000 $8,000 $8,000 Contingencies $7,941 $10,000 $450 $225 $675 $7,500 Fire Line Management $2,000 $3,500 $1,895 $948 $2,843 $3,500 Basin Repair $1,100 $3,000 $0 $3,000 $3,000 $3,000 Total Maintenance $ 420,594 $ 349,748 $ 251,754 $ 78,567 $ 330,321 $ 356,281 Viera East Community Development District General Fund Proposed Operating Budget Fiscal Year 2026 Adopted Actuals Projected Total Proposed Budget As Of Next Projected @ Budget FY 2025 5/31/25 4 Months 9/30/25 FY 2026 Actuals FY 2024 Grounds Maintenance Expenditures Salaries $196,723 $232,730 $136,972 $68,486 $205,458 $244,367 Bonus Program $41,823 $0 $59,814 $0 $59,814 $0 Administrative Fees $2,008 $2,840 $1,413 $707 $2,120 $2,840 FICA Expense $15,626 $19,787 $10,478 $5,239 $15,718 $18,694 Health Insurance $27,031 $32,893 $20,697 $10,349 $31,046 $34,538 Workers Compensation $3,211 $4,942 $2,297 $1,148 $3,445 $5,436 Unemployment $1,301 $2,608 $1,251 $626 $1,877 $2,608 Retirement Contribution $0 $6,682 $0 $6,682 $6,682 $6,682 Telephone/Internet $15,587 $15,660 $6,080 $3,040 $9,120 $6,000 Utilities $7,556 $15,000 $4,016 $2,008 $6,023 $8,020 Property Appraiser $1,989 $1,990 $2,391 $0 $2,391 $2,100 Insurance - Property $3,592 $3,344 $2,424 $1,212 $3,636 $3,711 Repairs $20,109 $25,000 $25,042 $12,521 $37,563 $25,000 Fuel $17,783 $21,000 $9,906 $4,953 $14,858 $20,000 Park Maintenance $29,505 $45,000 $20,276 $10,138 $30,414 $35,000 Sidewalk Repair $13,712 $15,000 $0 $5,000 $5,000 $15,000 Chemicals $1,604 $4,000 $1,611 $805 $2,416 $4,000 Contingencies $10,392 $10,000 $14,731 $7,366 $22,097 $10,000 Refuse $10,175 $12,000 $11,332 $5,666 $16,998 $18,000 Office Supplies $170 $0 $1,411 $706 $2,117 $2,500 Uniforms $3,152 $4,000 $1,042 $521 $1,563 $4,000 Fire Alarm System $3,658 $7,500 $270 $135 $404 $500 Rain Bird Pump System $28,041 $28,041 $9,194 $4,597 $13,791 $28,041 Park Materials $0 $10,000 $262 $131 $393 $10,000 Bay Hill Flow Way Maintenance $0 $20,000 $0 $0 $0 $20,000 Maintenance Reserve - Transfer Out $0 $31,777 $31,777 $0 $31,777 $4,651 Maintenance Reserve - Transfer Out (Excess) $96,816 $0 $0 $0 $0 $0 Total Grounds Expenditures 551,564 $ $ 571,793 $ 374,687 $ 152,035 $ 526,722 $ 531,688 Total Expenses $ 1,450,826 $ 1,460,353 $ 942,312 $ 398,006 $ 1,340,318 $ 1,439,547 Excess Revenue/(Expenditures) $ 2,172 $ (0) $ 476,234 $ (352,365) $ 123,869 $ 10,706 FY 2025 FY 2026 Net Assessment - General Net Assessment - Recreation Total Net Assessments Discounts @ 6% Gross Assessment $ 1 ,350,028 $ 1,350,028 $ 28,945 $ 28,945 $ 1 ,378,973 $ 1,378,973 $ 88,020 $ 88,020 $ 1,466,993 $ 1,466,993 Assessable Units - Residential Assessable Units - Non-Residential Total Units 4,204 4,204 1,869 1,869 6,073 6,073 Gross Assessment per Unit - General Fund Gross Assessment per Unit - Recreation Gross Assessment per Unit - Debt Service $ 236 $ 2 36 $ 129 $ 1 29 $ 139 $ 1 39 $ 504 $ 5 04 Viera East Community Development District General Fund Budget Revenues: Maintenance Assessments The District will levy a Non-Ad Valorem Assessment on all the assessable property within the District in order to pay for its operating and maintenance expenditures incurred during the fiscal year. Golf Course Administrative Services Represents Golf Course Fund portion of salary and benefits for employees paid from the General Fund. Description Annual Amount Base 75,000.00 $ 10% of Maintenance Supervisor $ ( 7,280.00) 50% of Labor Position $ (11,440.00) Total $ 56,280.00 Miscellaneous Income - Farmers' Market Miscellaneous income received by the District including income from the Farmers' Market. Interest Income The District will earn interest on balances invested during the year. Administrative Expenditures: Supervisors Fees The amount paid to each supervisor for the time devoted to District business and meetings is determined by Chapter 190, Florida Statutes, at $200 per meeting. Amount is based on five supervisors receiving fees for two meetings per month. Engineering Fees The District's engineer, Robb & Taylor Engineering Solutions Inc, will be providing general engineering services to the District, which includes preparation and attendance of monthly board meetings. Attorney Fees Legal Counsel: Shutts and Bowen LLP 300 South Orange Avenue Suite 300 Orlando, FL 32801 Telephone: (407) 835-6759 Fax: (407) 849-7288 The District's legal counsel, Shutts and Bowen, will be providing general services, which include attendance and preparation for monthly board meetings. Also, services include reviewing contracts, agreements, resolutions, rule amendments, etc. Dissemination The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5), which relates to additional reporting requirements for un-rated bond issues. o   Series 2020 Special Assessment Revenue Bond $ 1,081.50 Trustee Fees The District will pay annual trustee fees for the Series 2020 Special Assessment Revenue Bond. Annual Audit The District is required to annually have its financial records audited by an independent Certified Public Accounting Firm. The estimated cost of the audit is based on the prior fiscal year and will be shared with the Recreational Fund. Collection Agent Fees incurred by GMS-Central Florida, LLC for calculating, levying and certification of the District’s Non-Ad valorem Maintenance Assessments with the Brevard County Tax Collector. Contractor Services Monthly Annual GMS-Central Florida ,LLC Assessments 214.58 $ $ 2,575.00 Management Fees The District has contracted with GMS-Central Florida, LLC to provide Accounting and Administrative Services for the District. The services include, but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, financial reporting, annual audits, etc. Postage Mailing of Board Meeting agendas, checks for vendors, overnight deliveries and any other required correspondence. Amount is based on prior year's cost. Printing & Binding Printing and binding agenda packages for board meetings, printing of computerized checks, District brochures, correspondence, stationary, envelopes etc. Insurance - Liability The District’s general liability, public official’s liability, and automobile insurance coverage is provided by EGIS Insurance & Risk Advisors. Description Admin. Amount Field Amount Annual Amount General Liability $ 7,784 $ - $ 7,784 POL/EPLI $ 5,020 $ - $ 5,020 Property $ - $ 3,711 $ 3,711 Total $ 12,804 $ 3,711 $ 16,515 Legal Advertising Advertising of monthly board meetings, public hearings, and any other legal advertising that may be required. Other Current Charges Any miscellaneous expenses incurred by the District that were not previously budgeted. Office Supplies Any supplies that may need to be purchased during the fiscal year, e.g. paper, minute books, file folders, labels, paper clips, etc. Dues & Licenses The District is required to pay an annual fee to the Department of Community Affairs for $175. This is the only anticipated expenditure for this category. Information Technology Costs related to the District's accounting and information systems; District's website creation and maintenance; electronic compliance with Florida Statutes and other electronic data requirements. Operating Expenditures: Salaries The District currently has a General Manager and 1 full-time employee to handle the operations of the District. The proposed amount includes a 5% cost of living increase for qualifying full-time employees. Administration Fee Represents the fees to Applied Business Solutions for administration of pay and benefits. Applied Business Solutions charges an administration fee of $18 per employee. FICA Expense Represents the estimated amount due for Social Security (6.2%) and Medicare (1.45%) based upon the proposed salaries and wages. Health Insurance Full-time District employees are eligible for the following health benefits. Provider Policy Number Insurance Description United Healthcare 591637 Health, Accidental Death, Dental, Vision, Life & Long-Term Disability Colonial Life E3682663 Life, Accident, Short-Term Disability Combined 007394312 Accident & Disability Workers Compensation The District provides Workers Compensation Insurance for each of its employee’s based upon statutory requirements and rates determined by Applied Business Solutions. Unemployment The District pays State and Federal unemployment for each employee based upon current rate structures. Retirement Contribution Contribution to the retirement account for eligible employees. Other Contractual Miscellaneous fees and contracts incurred for the District. Description Annual Amount Ecolab Pest Elimination 5,697 $ Xelar Copier $ 1,876 Additional Contract Funds $ 2,427 Total $ 10,000 Marketing- Lifestyle/Amenities The District is in contract with Unique Webb Consulting to provide lifestyle and marketing services which include, but are not limited to social media publications, strategy planning, blogging, videography, photography, event planning, and marketing. This also includes all ads in the Viera Voice for the CDD golf course. Training Expenses for providing training to staff. Maintenance Expenditures: Canal Maintenance Represents costs associated with the maintenance of the canals located east and west of I-95. The canals east of I-95 are maintained by various contractors paid by the District on an "as needed” basis. The canals west of I-95 are maintained by A. Duda & Sons and billed to the District. Lake Bank Restoration Allocation of funds dedicated for lake bank restoration throughout the District. Lake Bank Education Project Allocation of funds dedicated for the lake bank education project. Environmental Services The District will incur the following costs related to maintaining and managing the various conservation areas (wetlands and uplands), which are the responsibility of the District. The amount is based upon the current contract with Kevin L. Erwin, plus an allowance for additional services from other providers that may be required. Services provided under this budget item may include the following: Wetland monitoring reports as required by SJRWMD and USA COE. Wetland maintenance and removal of exotic species as required to conform to permit requirements. Habitat management including burns of preserved areas as required within the approved Habitat Management Plan(s). Permit compliance and general services as required. Water Management System The District currently has a contract with ECOR Industries, Inc. to provide Aquatic Maintenance Service for the District's Lakes. Monthly Amount Annual Amount Description Natural Areas Management 4,585 $ $ 55,020 Wingate & Auburn Lake Aquatic Weed Control $ 939 $ 11,263 Bayhill Wetland Maintenance $ 440 $ 5,280 Natural Vegetation Management (Bi-Monthly) $ 220 $ 1,320 Aquatic Weed Control $ 4,740 $ 56,878 Header Canal Maintenance (Quarterly) $ 1,780 $ 7,120 Woodside Park Maintenance $ 200 $ 2,400 Unanticipated Repairs / Improvements $ - $ 4,000 Total $ 12,903 $ 143,281 Midge Control Lake spraying for midge control throughout the CDD. Contingencies Any miscellaneous expenses incurred by the District that were not previously budgeted. Fire Line Maintenance Expenses related to the maintenance of the various fire lines throughout the District. This mainly includes the mechanical removal of vegetation between homeowners’ properties and conservation areas in order to slow or stop the spread of wildfire. Basin Repair Expenses related to the repair and maintenance of the drainage structures at District Basins III, IV, and V. The drainage structures that get repaired are the outfalls (connect lakes) and the flow ways (connect lakes to St Johns River). Grounds Maintenance Expenditures: Salaries The District currently has a 4 full-time employees and 1 part time employee to handle the grounds maintenance of the District. The proposed amount includes a 5% cost of living increase for qualifying full-time employees. Bonus Program Represents annual bonus to be paid to eligible employees. Administration Fee Represents fee to Applied Business Solutions for administration of pay and benefits. Applied Business Solutions charges an administration fee of $18 per employee. FICA Expense Represents the estimated amount due for Social Security (6.2%) and Medicare (1.45%) based upon the proposed salaries and wages. Health Insurance Full-time District employees are eligible for the following health benefits. Provider Policy Number Insurance Description United Healthcare 591637 Health, Accidental Death, Dental, Vision, Life & Long-Term Disability Colonial Life E3682663 Life, Accident, Short-Term Disability Combined 007394312 Accident & Disability Workers Compensation The District provides Workers Compensation insurance for each of its employees based upon statutory requirements and rates determined by Applied Business Solutions. Unemployment The District pays State and Federal unemployment for each employee based upon current rate structures. Retirement Contribution Contribution to the retirement account for eligible employees. Telephone/Internet Expenses incurred for the telephone, fax machine and internet. Utilities The District has the following utility account with Florida Power and Light to provide electricity for the maintenance building. Vendor Account Monthly Amount Annual Amount FPL 83490-45156 585 $ $ 7,020 Contingency $ 1,000 Total $ 8,020 Property Appraiser Fees incurred for the Brevard County Property Appraiser performing work in support of processing and distributing non-ad valorem assessment information. The cost for FY2026 is estimated to be $2,100. Insurance - Property Represents the amount paid for the property portion of the insurance premium with Egis Insurance & Risk Advisors. The property includes vehicles, equipment, etc. Description Admin. Amount Field Amount Annual Amount General Liability $ 7,784 $ - $ 7,784 POL/EPLI $ 5,020 $ - $ 5,020 Property $ - $ 3,711 $ 3,711 Total $ 12,804 $ 3,711 $ 16,515 Repairs Any costs related to miscellaneous repairs and maintenance that occur during the fiscal year. Fuel Costs related to fuel purchased for grounds maintenance machinery that occur during the fiscal year. Park Maintenance Represents costs associated with the maintenance of the parks and trails located within the district. Sidewalk Repair Represents costs associated with the repair of the sidewalks located within the district. Chemicals Includes fungicide applications, herbicide applications and insecticide applications needed to maintain the grounds. Contingencies Represents any miscellaneous expenses incurred by the District that were not previously budgeted. Refuse Estimated costs for refuse services to empty dumpster(s) twice monthly by Berry Disposal is: Contractor Services Monthly Annual Berry Disposal Empty Dumpster 1,435 $ $ 17,220 Contingency $ 780 $ 18,000 Office Supplies Costs for items used in the office. Uniforms The District is in contract with Unifirst to supply uniforms for the maintenance staff. Unifirst comes to the District weekly to deliver clean uniforms to the staff. Monthly Amount Annual Amount Vendor Unifirst $ 300 $ 3,600 Contingency $ 400 Total $ 4,000 Fire Alam System The District is in contract with Everon, LLC to provide monthly fire and burglary alarm system monitoring and maintenance. The services will be split between the Golf Course and Operations. Rain Bird Pump System The District will be financing a new pump system for irrigation through Rain Bird. Monthly Amount Annual Amount Vendor Rain Bird $ 2,298 $ 27,581 Additional Fees $ 460 Total $ 28,041 Park Materials Costs for items used for the park. Bay Hill Flow Way Maintenance Expenses incurred related to the maintenance of Bay Hill flow way. Maintenance Reserves – Transfer Out Funds allocated annually to insure available cash for ongoing operations of the District and for major repair or replacement of capital items. Viera East Community Development District Capital Reserve Fund Proposed Budget FY 2026 Adopted Actuals Projected Total Proposed Budget As Of Next Projected Budget FY 2025 5/31/25 4 Months @ 9/30/25 FY 2026 Revenues Beginning Fund Balance $1,660,412 $1,582,623 $0 $1,582,623 1,403,158 $ Interest Income $500 $11,991 $5,995 $17,986 $2,500 Reserve Funding - Transfer In (General) $31,777 $31,777 $0 $31,777 $4,651 Reserve Funding - Transfer In (Golf) $84,410 $84,410 $0 $84,410 $166,848 Reserve Funding - Transfer In (General Excess) $0 $0 $0 $0 $0 Reserve Funding - Transfer In (Golf Excess) $0 $0 $0 $0 $0 Total Revenues $ 1 ,777,098 $ 1,710,801 $ 5,995 $ 1,716,796 $ 1 ,577,157 Expenditures Capital Outlay $80,000 $278,638 $0 $278,638 $150,000 Truck Maintenance $25,000 $0 $0 $0 $25,000 Sign Project $20,000 $0 $0 $0 $20,000 Vehicle Purchase $20,000 $35,000 $0 $35,000 $0 Bank Fees $0 $0 $0 $0 $0 Total Expenditures $ 1 45,000 $ 313,638 $ - $ 313,638 $ 1 95,000 Excess Revenues (Expenditures) $ 1 ,632,098 $ 1,397,163 $ 5,995 $ 1,403,158 $ 1 ,382,157 Potential Capital Reserve Split General Fund Golf Course Total $ 5 80,243 $ 1,002,380 $ 1,582,623 $ 6,594 $ 11,392 $ 17,986 $ 31,777 $ 84,410 $ 116,187 $ - $ - $ - $ (42,740) $ (270,897) $ (313,638) $ - $ - $ - $ 575,874 $ 827,284 $ 1,403,158 Beginning Balance - 9/30/25 FY25 Interest Income FY25 Contributions FY25 Projected Excess FY25 Expenses FY24 Bank Fees Projected Excess Revenue Fund End of FY25 Viera East Community Development District Debt Service Fund Series 2020 Proposed Budget FY 2026 Adopted Actuals Projected Total Proposed Budget As Of Next Projected Budget FY 2025 5/31/25 4 Months @ 9/30/25 FY 2026 Revenues Special Assessments Interest Income Beginning Fund Balance 655,615 $ $ 647,420 $ 8,195 $ 6 55,615 $ 655,615 $ 500 $ 15,905 $ 7,952 $ 23,857 $ 5,000 $ 1 32,287 $ 3 57,224 $ - $ 3 57,224 $ 375,381 Total Revenues $ 788,402 $ 1,020,549 $ 16,147 $ 1,036,696 $ 1,035,996 Expenditures Series 2020 Interest-11/1 Principal- 5/1 Interest-5/1 $ 80,658 $ 80,658 $ - $ 80,658 $ 7 5,658 $ 5 00,000 $ 5 00,000 $ - $ 5 00,000 $ 795,000 $ 80,658 $ 80,658 $ - $ 80,658 $ 7 5,658 Total Expenditures $ 661,315 $ 661,315 $ - $ 661,315 $ 946,315 Excess Revenues (Expenditures) $ 127,087 $ 359,234 $ 16,147 $ 375,381 $ 89,681 * Excess Revenues needed to pay the 11/1/26 Interest Payment $ 6 7,708 Total Net Net ERU Percentage Per Unit Assessments 4,204.00 84% $ 130.57 $ 548,913.70 817.20 16% $ 522.28 $ 106,701.30 5,021.20 $ 655,615.00 Land Use ERU Units Residential 1.00 4,204.00 Commercial 4.00 204.30 Net Annual Assessment 4,408.30 Viera East Community Development District Debt Service - Series 2020 Amortization Schedule Fiscal Year Total Date Bond Balance Interest Principal Interest 11/01/20 52,497.38 $ $ 52,497.38 05/01/21 7,685,000 $ 90,307.50 11/01/21 $ 90,307.50 $ 180,615.00 05/01/22 7,685,000 $ 90,307.50 11/01/22 $ 90,307.50 $ 180,615.00 05/01/23 7,685,000 2.000% $475,000 $ 90,307.50 11/01/23 $ 85,557.50 $ 650,865.00 05/01/24 7,210,000 2.000% $490,000 $ 85,557.50 11/01/24 $ 80,657.50 $ 656,215.00 05/01/25 6,720,000 2.000% $500,000 $ 80,657.50 11/01/25 $ 75,657.50 $ 656,315.00 05/01/26 6,220,000 2.000% $795,000 $ 75,657.50 11/01/26 $ 67,707.50 $ 938,365.00 05/01/27 5,425,000 2.000% $380,000 $ 67,707.50 11/01/27 $ 63,907.50 $ 511,615.00 05/01/28 5,045,000 2.000% $385,000 $ 63,907.50 11/01/28 $ 60,057.50 $ 508,965.00 05/01/29 4,660,000 2.000% $395,000 $ 60,057.50 11/01/29 $ 56,107.50 $ 511,165.00 05/01/30 4,265,000 2.125% $400,000 $ 56,107.50 11/01/30 $ 51,857.50 $ 507,965.00 05/01/31 3,865,000 2.600% $410,000 $ 51,857.50 11/01/31 $ 46,527.50 $ 508,385.00 05/01/32 3,455,000 2.600% $425,000 $ 46,527.50 11/01/32 $ 41,002.50 $ 512,530.00 05/01/33 3,030,000 2.600% $435,000 $ 41,002.50 11/01/33 $ 35,347.50 $ 511,350.00 05/01/34 2,595,000 2.600% $445,000 $ 35,347.50 11/01/34 $ 29,562.50 $ 509,910.00 05/01/35 2,150,000 2.750% $455,000 $ 29,562.50 11/01/35 $ 23,306.25 $ 507,868.75 05/01/36 1,695,000 2.750% $470,000 $ 23,306.25 11/01/36 $ 16,843.75 $ 510,150.00 05/01/37 1,225,000 2.750% $485,000 $ 16,843.75 11/01/37 $ 10,175.00 $ 512,018.75 05/01/38 740,000 2.750% $740,000 $ 10,175.00 $ 7,685,000 $ 1,992,585 $ 8,927,410 Viera East Community Development District Restaurant - Hook and Eagle Proposed Operating Budget Fiscal Year 2026 Adopted Actuals Projected Total Proposed Budget As Of Next Projected @ Budget FY 2025 5/31/25 4 Months 9/30/25 FY 2026 Actuals FY 2024 Revenues Food Sales $449,273 $404,923 $300,800 $214,857 $515,657 $465,661 Snack Sales $9,935 $11,000 $457 $326 $783 $550 Beverage Sales $52,995 $34,106 $23,984 $17,132 $41,116 $37,516 Beer Sales $176,664 $197,054 $158,845 $113,460 $272,305 $236,465 Wine Sales $7,228 $13,642 $12,879 $9,199 $22,079 $20,463 Liquor Sales $147,337 $101,442 $139,912 $99,937 $239,849 $202,884 Miscellaneous Income $968 $0 $2,068 $1,477 $3,546 $0 Total Revenues 844,400 $ $ 762,167 $ 638,945 $ 456,389 $ 1,095,334 $ 963,539 Restaurant Expenditures Restaurant Manager Contract $10,833 $0 $0 $0 $0 $0 Salaries $301,530 $320,250 $225,206 $160,862 $386,068 $336,263 Administrative Fee $7,639 $7,956 $5,401 $3,858 $9,259 $8,354 FICA Expense $34,584 $29,041 $25,568 $18,263 $43,832 $25,724 Health Insurance $17,211 $14,000 $9,890 $7,064 $16,954 $14,700 Workers Compensation $4,608 $7,300 $3,282 $2,344 $5,626 $7,300 Unemployment $5,939 $6,882 $4,743 $3,388 $8,130 $6,882 Telephone $4,808 $5,250 $0 $0 $0 $0 Utilities $8,245 $11,000 $6,484 $4,631 $11,115 $12,100 Pest Control $666 $1,200 $0 $0 $0 $1,200 Merchant Fees $25,084 $27,500 $18,277 $13,055 $31,332 $32,208 Equipment Lease $1,230 $1,500 $1,142 $816 $1,958 $1,750 Kitchen Equipment & Supplies $4,480 $3,000 $9,806 $7,004 $16,810 $3,000 Paper & Plastic Supplies $13,561 $15,000 $9,645 $6,890 $16,535 $15,000 Operating Supplies $20,301 $20,000 $32 $23 $55 $20,000 Entertainment $585 $0 $713 $509 $1,222 $0 Delivery/Gas $6,184 $7,000 $3,173 $2,266 $5,439 $6,780 Dues & License $11,195 $11,500 $8,907 $6,362 $15,269 $11,500 Total Restaurant Expenditures $ 478,684 $ 488,379 $ 332,268 $ 237,335 $ 569,603 $ 502,760 Cost of Goods Sold Food Cost $246,026 $139,388 $165,941 $118,529 $284,470 $298,694 Snack Cost $3,939 $5,250 $4,858 $3,470 $8,328 $8,744 Beverage Cost $32,849 $16,800 $25,058 $17,898 $42,956 $45,104 Beer Cost $65,765 $74,550 $56,308 $40,220 $96,527 $101,354 Wine Cost $6,870 $5,250 $6,894 $4,924 $11,818 $12,408 Liquor Cost $63,615 $32,550 $42,900 $30,643 $73,542 $77,219 Total Cost of Goods Sold $ 419,062 $ 273,788 $ 301,957 $ 215,684 $ 517,641 $ 543,523 Total Revenues $ 844,400 $ 762,167 $ 638,945 $ 456,389 $ 1,095,334 $ 963,539 Total Expenditures $ 897,746 $ 762,167 $ 634,226 $ 453,018 $ 1,087,244 $ 1,046,283 Operating Income (Loss) $ (53,346) $ - $ 4,719 $ 3,371 $ 8,090 $ (82,744) Non Operating Revenues/(Expenditures) Interfund Transfer Out - Golf Course $0 $0 $0 $0 $0 $0 Interfund Transfer In - Golf Course $0 $0 $0 $0 $0 $0 Total Non Operating Revenues/(Expenditures) $ - $ - $ - $ - $ - $ - Net Non Operating Income / (Loss) $ (53,346) $ - $ 4,719 $ 3,371 $ 8,090 $ (82,744) Viera East Community Development District Food & Beverage Operating Budget Revenues: Food Sales Represents all food sales for Hook and Eagle Tavern. Also includes all catering and banquet sales. Snack Sales Represents all snack sales for Hook and Eagle Tavern. Also includes all catering and banquet sales as well as snack sales from the golf course. Beverage Sales Represents all non-alcoholic beverage sales for Hook and Eagle Tavern. Also includes all catering and banquet sales. Beer Sales Represents all beer sales for Hook and Eagle Tavern. Also includes all catering and banquet sales. Wine Sales Represents all wine sales for Hook and Eagle Tavern. Also includes all catering and banquet sales. Liquor Sales Represents all liquor sales for Hook and Eagle Tavern. Also includes all catering and banquet sales. Expenditures: Salaries The District currently has a 1 full-time and 18 part-time employees to handle the restaurant operations of the District. The proposed amount includes a 5% cost of living increase for qualifying full-time employees. Administration Fee Represents fee to Applied Business Solutions for administration of pay and benefits. Applied Business Solutions charges an administration fee of $18 per employee. FICA Expense Represents the estimated amount due for Social Security (6.2%) and Medicare (1.45%) based upon the proposed salaries and wages. Health Insurance Full-time District employees are eligible for the following health benefits. Provider Policy Number Insurance Description United Healthcare 591637 Health, Accidental Death, Dental, Vision, Life & Long-Term Disability Colonial Life E3682663 Life, Accident, Short-Term Disability Combined 007394312 Accident & Disability Workers Compensation The District provides Workers Compensation insurance for each of its employees based upon statutory requirements and rates determined by Applied Business Solutions. Unemployment The District pays State and Federal unemployment for each employee based upon current rate structures. Utilities The District has accounts with City of Cocoa and FPL for utilities in Hook & Eagle Tavern. Vendor Account Monthly Amount Annual Amount FPL 03449-33189 650 $ $ 7,800 City of Cocoa 150351-112664 $ 195 $ 2,340 Contingency $ 1,960 Total $ 12,100 Pest Control The estimated costs for Ecolab Pest Elimination to provide monthly pest control services. Merchant Fees The estimated cost for merchant credit card fees. Equipment Lease The estimated cost to Ecolab for the dish machine rental. Vendor Monthly Amount Annual Amount Ecolab $ 143 $ 1,713 Contingency $ 37 Total $ 1,750 Kitchen Equipment & Supplies Represents various operating supplies purchased such as thermometers, silverware, microwave, storage cabinets, etc. Paper & Plastic Supplies Represents various operating supplies purchased such as paper towels, plastic utensils, paper plates, etc. Operating Supplies Represents various operating supplies purchased Delivery/Gas The District has an account with Florida City Gas for natural gas for Hook & Eagle Tavern. Also includes any fuel surcharges for deliveries to the restaurant. Vendor Account Monthly Amount Annual Amount ARC3 Gases, Inc. 83490-45156 $ 440 $ 5,280 Contingency - Delivery Fees $ 1,500 Total $ 6,780 Dues and License Represents the cost of all restaurant operating licenses through DPBR. Cost of Goods Sold: Food Cost Represents food supplies purchased for the restaurant or catering events. Snack Cost Represents snacks purchased for the restaurant. Beverage Cost Represents beverages purchased for the restaurant. Beer Cost Represents beer purchased for the restaurant. Wine Cost Represents wine purchased for the restaurant. Liquor Cost Represents liquor purchased for the restaurant. Other Sources and Uses: Transfer In - Golf Course Represents the Golf Course’s obligated amount to transfer to Food & Beverage should there be a shortfall in the operating account. Viera East Community Development District Golf Course Proposed Operating Budget Fiscal Year 2026 Adopted Actuals Projected Total Proposed Budget As Of Next Projected @ Budget FY 2025 5/31/25 4 Months 9/30/25 FY 2026 Actuals FY 2024 Greens Fees $1,999,683 $1,994,243 $1,612,422 $806,211 $2,418,632 $2,250,000 Gift Cards - Sales & Usage $5,953 $26,523 $4,178 $2,089 $6,267 $0 Gift Cards - Usage $0 ($26,523) $0 $0 $0 $0 Season Advance/Trail Fees $117,319 $125,000 $59,732 $29,866 $89,597 $100,000 Loyalty Program $26,245 $25,000 $18,540 $9,270 $27,810 $25,000 Driving Range $93,469 $84,872 $70,121 $35,060 $105,181 $87,418 Golf Lessons $14,957 $7,000 $13,624 $6,812 $20,436 $15,000 Merchandise Sales $145,705 $122,004 $91,602 $45,801 $137,403 $125,664 Assessments - Recreation Operating $18,239 $18,239 $11,538 $5,769 $17,307 $18,239 Miscellaneous Income $6,271 $15,000 $12,159 $6,080 $18,239 $15,000 Total Revenues 2,427,841 $ $ 2,391,358 $ 1,893,915 $ 946,958 $ 2,840,873 $ 2,636,321 General Expenditures Other Contractual Services $13,710 $20,000 $12,101 $6,051 $18,152 $20,000 Telephone $4,065 $4,058 $8,065 $4,032 $12,097 $20,392 Utilities $4,244 $5,400 $3,002 $1,501 $4,503 $5,348 Repairs & Maintenance $6,288 $15,000 $11,095 $5,547 $16,642 $15,000 Bank Charges $66,211 $55,000 $50,666 $25,333 $75,999 $75,000 Office Supplies $2,663 $4,500 $3,259 $1,629 $4,888 $4,500 Operating Supplies $8,338 $5,000 $9,101 $4,551 $13,652 $12,000 Dues, Licenses & Subscriptions $14,729 $12,000 $10,834 $5,417 $16,251 $15,290 Drug Testing - All Departments $0 $500 $0 $0 $0 $500 Training, Education & Employee Relations $245 $9,000 $2,773 $1,386 $4,159 $5,000 Contractual Security $3,147 $4,000 $5,839 $2,919 $8,758 $8,400 IT Services $3,377 $3,000 $5,468 $2,734 $8,202 $8,400 Total Golf Course Expenditures $ 127,017 $ 137,458 $ 122,203 $ 61,101 $ 183,304 $ 189,830 Golf Course Operations: Salaries $316,736 $314,250 $236,357 $118,178 $354,535 $372,262 Administrative Fee $14,005 $16,848 $9,529 $4,765 $14,294 $16,848 FICA Expense $24,897 $26,671 $18,081 $9,041 $27,122 $28,226 Health Insurance $9,575 $10,500 $2,648 $1,324 $3,972 $10,500 Workers Compensation $4,697 $7,077 $3,920 $1,960 $5,880 $7,077 Unemployment $7,609 $10,935 $5,474 $2,737 $8,211 $10,935 Golf Printing $1,920 $2,500 $2,610 $1,305 $3,915 $4,500 Utilities $16,623 $22,500 $11,909 $5,954 $17,863 $18,980 Repairs $2,948 $1,000 $394 $197 $591 $3,400 Pest Control $666 $1,300 $0 $0 $0 $1,300 Supplies $14,186 $15,000 $5,344 $2,672 $8,015 $10,000 Uniforms $130 $1,500 $1,359 $679 $2,038 $1,750 Training, Education & Employee Relations $920 $9,000 $1,308 $654 $1,962 $2,500 Cart Lease $119,228 $135,196 $91,880 $45,940 $137,820 $137,684 Cart Maintenance $6,246 $5,000 $1,836 $918 $2,754 $5,000 Driving Range Supplies $6,721 $10,000 $2,277 $1,139 $3,416 $5,000 Total Golf Operation Expenditures $ 547,106 $ 589,277 $ 394,927 $ 197,463 $ 592,390 $ 635,962 Viera East Community Development District Golf Course Proposed Operating Budget Fiscal Year 2026 Adopted Actuals Projected Total Proposed Budget As Of Next Projected @ Budget FY 2025 5/31/25 4 Months 9/30/25 FY 2026 Actuals FY 2024 Merchandise Sales: Cost of Goods Sold $100,277 $90,000 $64,888 $32,444 $97,333 $102,199 Total Merchandise Sales 100,277 $ $ 90,000 $ 64,888 $ 32,444 $ 97,333 $ 102,199 Golf Course Maintenance: Salaries $428,276 $474,149 $ 321,390 $160,695 $482,085 $497,856 Administrative Fees $5,210 $6,616 $ 3,587 $1,794 $5,381 $6,616 FICA Expense $33,705 $43,881 $ 24,586 $12,293 $36,879 $38,086 Health Insurance $36,600 $38,513 $ 42,344 $21,172 $63,516 $66,692 Workers Compensation $6,918 $10,462 $ 5,306 $2,653 $7,959 $10,462 Unemployment $4,111 $6,418 $ 3,551 $1,775 $5,326 $6,418 Utilities $31,363 $30,000 $ 20,304 $10,152 $30,456 $32,080 Repairs $40,914 $48,000 $ 33,485 $16,742 $50,227 $48,000 Restaurant Repairs $8,735 $10,000 $ 3,890 $1,945 $5,835 $5,000 Fuel & Oil $34,353 $40,000 $ 20,011 $10,005 $30,016 $40,000 Pest Control $2,995 $2,000 $ 3,013 $1,506 $4,519 $4,600 Irrigation/Drainage $10,782 $20,000 $ 10,279 $5,140 $15,419 $20,000 Sand/Topsoil $11,504 $26,500 $ 10,453 $5,226 $15,679 $26,500 Flowers/Mulch $1,592 $7,000 $ 3,858 $1,929 $5,786 $7,000 Fertilizer $168,566 $175,000 $ 72,999 $36,499 $109,498 $175,000 Seed/Sod $0 $10,000 $ 272 $136 $408 $10,000 Trash Removal $2,414 $3,000 $ 2,100 $1,050 $3,149 $3,462 Contingencies $6,563 $7,500 $ 1,173 $587 $1,760 $7,500 First Aid $259 $800 $ 277 $138 $415 $800 Operating Supplies $8,636 $20,000 $ 9,170 $4,585 $13,755 $15,000 Training $1,432 $9,000 $ 718 $359 $1,076 $2,500 Janitorial Supplies $207 $1,000 $ 742 $371 $1,113 $1,200 Janitorial Services $27,188 $13,956 $ 8,563 $4,281 $12,844 $13,956 Soil & Water Testing $0 $1,000 $ - $0 $0 $1,000 Uniforms $10,421 $10,000 $ 7,773 $3,886 $11,659 $11,550 Equipment Rental $6,696 $2,000 $ 5,187 $2,593 $7,780 $4,606 Equipment Lease $220,829 $216,000 $ 150,609 $75,304 $225,913 $243,144 Total Golf Course Maintenance $ 1 ,110,267 $ 1,232,795 $ 765,637 $ 382,818 $ 1,148,455 $ 1,299,028 Administrative Expenditures: Legal Fees $563 $1,500 $803 $402 $1,205 $1,500 Engineering Fees $600 $0 $0 $0 $0 $600 Arbitrage $1,000 $600 $850 $425 $1,275 $600 Dissemination $500 $1,050 $700 $350 $1,050 $1,103 Trustee Fees $4,089 $4,100 $2,726 $1,363 $4,089 $4,510 Annual Audit $4,818 $5,000 $3,493 $1,746 $5,239 $5,278 Golf Course Administrative Services $56,280 $56,280 $37,520 $18,760 $56,280 $56,280 Insurance $146,804 $161,889 $105,172 $52,586 $157,758 $166,132 Marketing $0 $0 $1,100 $550 $1,650 $0 Property Taxes $9,420 $15,000 $6,212 $3,106 $9,318 $12,000 Total Administrative Expenditures $ 224,073 $ 245,419 $ 158,576 $ 79,288 $ 237,864 $ 248,003 Reserves: Renewal & Replacement $140,691 $84,410 $84,410 $0 $84,410 $166,848 Total Reserves $ 140,691 $ 84,410 $ 84,410 $ - $ 84,410 $ 166,848 Total Revenues $ 2 ,427,841 $ 2,391,358 $ 1,893,915 $ 946,958 $ 2,840,873 $ 2,636,321 Total Expenditures $ 2 ,249,431 $ 2,379,358 $ 1,590,641 $ 753,115 $ 2,343,756 $ 2,641,869 Operating Income (Loss) $ 178,409 $ 12,000 $ 303,274 $ 193,842 $ 497,117 $ (5,548) Viera East Community Development District Golf Course Proposed Operating Budget Fiscal Year 2026 Adopted Actuals Projected Total Proposed Budget As Of Next Projected @ Budget FY 2025 5/31/25 4 Months 9/30/25 FY 2026 Actuals FY 2024 Non Operating Revenues/(Expenditures): Assessments - Recreation Debt Service $589,195 $560,250 $373,500 $186,750 $560,250 $560,250 Interest Income $18,140 $1,000 $14,623 $7,312 $21,935 $10,000 Reserve Funding - Transfer Out (PY Excess) $0 $0 $0 $0 $0 $0 Interfund Transfer Out - Restaurant $0 $0 $0 $0 $0 $0 Recreation Fees $0 $0 $0 $0 $0 $0 Interest Expense ($77,750) ($53,250) ($35,500) ($17,750) ($53,250) ($27,250) Principal Expense ($490,000) ($520,000) ($346,667) ($173,333) ($520,000) ($545,000) Total Non Operating Revenues/(Expenditures) 39,585 $ $ (12,000) $ 5,957 $ 2,978 $ 8,935 $ (2,000) Net Non Operating Income / (Loss) $ 217,994 $ - $ 309,231 $ 196,820 $ 506,052 $ (7,548) Viera East Community Development District Recreational Operating Budget Revenues: Green Fees Estimated revenue for public paid rounds of golf. Gift Cards - Sales & Usage Estimated amount of gift cards sold that can be used for discounted rounds of golf, merchandise or restaurant purchases. The full amount of the sale is recorded as revenue at the time of purchase. Also included is the estimated usage of gift cards once purchased. Once the gift cards have been used at the District, the amount used is recorded against the revenue. Season Advance/Trail Fees Estimated revenue of customers who purchase memberships to the District golf course in advance for the year. Loyalty Program Estimated costs of all associate memberships sold. The associate membership costs $79 and lasts for one year. The membership gets the member a 20% discount on golf rounds and other discounts on range balls, apparel, and USGA handicap service. Driving Range Estimated revenue from the District’s driving range. Golf Lessons Estimated revenue from golfing lessons given at the golf course. The District leases the golf instruction program to the Mike Hogan Golf Academy. Merchandise Sales Estimated revenues from clothing, equipment, and supplies sold in the District’s Pro Shop. Assessments - Recreation Operations The District will levy Non-Ad Valorem assessments on all the assessable property within the District to help fund all of the General Operating Expenditures for the fiscal year. Miscellaneous Income Estimated annual revenue for various miscellaneous charges billed and collected by the District. General Expenditures: Other Contractual Services Estimated cost for a full-time restaurant manager at Hook and Eagle Tavern. Vendor Monthly Amount Annual Amount Charter (Cable & Internet) 329 $ $ 3,947 Waste Management $ 744 $ 8,924 Great American Financial $ 156 $ 1,876 Contingency $ 5,253 Total $ 20,000 Telephone Represents regular telephone lines, credit card, and internet access. A portion of expenses related to the District are transferred to the General Fund. Vendor Monthly Amount Annual Amount Cricket Wireless 239 $ $ 2,868 Fusion $ 1,271 $ 15,252 Hulu Subscription $ 106 $ 1,272 Contingency $ 1,000 Total $ 20,392 Utilities The District has the following utility accounts related to the operations. Vendor Account Monthly Amount Annual Amount FPL 10579-42334 $ 190 $ 2,280 FPL 91273-57086 $ 30 $ 360 City of Cocoa 313093-70192 $ 92 $ 1,104 City of Cocoa 150351-141774 $ 92 $ 1,104 Contingency $ 500 Total $ 5,348 Repairs & Maintenance Any miscellaneous repairs and maintenance, including electrical, plumbing, hardware, locksmiths, painting and HVAC. A portion of expenses related to the District are transferred to the General Fund. Bank Charges Bank charges related to credit card usage as well as account service charges for the operating checking account fund. Office Supplies Any supplies that may need to be purchased during the fiscal year, e.g. paper, minute books, file folders, labels, paper clips, etc. Operating Supplies Represents various operating supplies purchased. Dues, Licenses & Subscriptions The following represents the estimated cost for license, membership subscriptions and permit renewals for the fiscal year. Vendor Description Annual Amount Brevard County Business Tax License $ 82 City of Rockledge Business License $ 200 Club Caddie Membership $ 7,788 DBPR License $ 1,820 Florida State Golf Assoc. Handicap Fees $ 5,000 Florida State Golf Assoc. Membership $ 150 Contingency $ 250 Total $ 15,290 Drug Testing - All Departments Costs incurred for drug testing. Training, Education & Employee Relations Costs incurred in sending District personnel to any training seminars or having personnel trained on site for different aspects to more efficiently and effectively operate the golf course. Also, any expense incurred for staff meetings and help wanted ads. Contractual Security Security system costs for the maintenance of clubhouse alarm systems. IT Services Costs related to the District's accounting and information systems, District's website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements. Golf Course Operations: Salaries The District currently has a 1 full-time and 33 part-time employees to handle the golf course operations of the District. The proposed amount includes a 5% cost of living increase for qualifying full-time employees. Administration Fee Represents fee to Applied Business Solutions for administration of pay and benefits. Applied Business Solutions charges an administration fee of $18 per employee. FICA Expense Represents the estimated amount due for Social Security (6.2%) and Medicare (1.45%) based upon the proposed salaries and wages. Health Insurance Full-time District employees are eligible for the following health benefits. Provider Policy Number Insurance Description United Healthcare 591637 Health, Accidental Death, Dental, Vision, Life & Long-Term Disability Colonial Life E3682663 Life, Accident, Short-Term Disability Combined 007394312 Accident & Disability Workers Compensation The District provides Workers Compensation insurance for each of its employees based upon statutory requirements and rates determined by Applied Business Solutions. Unemployment The District pays State and Federal unemployment for each employee based upon current rate structures. Golf Printing Printing for materials needed for the course. Utilities Estimated cost of basic utilities for golf operations. Vendor Account Monthly Amount Annual Amount FPL 03449-33189 600 $ $ 7,200 FPL 07938-52104 $ 750 $ 9,000 City of Cocoa 150351-112664 $ 190 $ 2,280 Contingency $ 500 Total $ 18,980 Repairs Any costs related to miscellaneous repairs and maintenance that occur during the fiscal year. Pest Control The estimated costs for Ecolab Pest Elimination to provide monthly pest control services. Vendor Monthly Amount Annual Amount Ecolab Pest Elimination 95 $ $ 1,140 Contingency $ 160 Total $ 1,300 Supplies Estimated costs of miscellaneous supplies that the District may need to purchase for golf operations. Uniforms The estimated costs of uniforms for pro shop personnel. Once hired, all employees get a District golf shirt to wear during work hours. Training, Education & Employee Relations The District will incur the cost of the Assistant Pro Program and any training deemed necessary for the Pro Shop staff or cart facility personnel, for example, cart mechanics training and any help wanted ads. Cart Lease The expense related to leasing of carts for the golf course. Vendor Monthly Amount Annual Amount The Huntington National $ 493 $ 5,911 Yamaha $ 197 $ 2,361 Golf Cart $ 10,784 $ 129,412 Total $ 1 37,684 Cart Maintenance The expenses related to any repairs and maintenance of the golf carts that are incurred during the year. Driving Range Supplies Any expenses incurred related to the driving range operation, for example range balls, tokens, buckets, bag stands, clock rope and sand/water buckets. Merchandise Sales: Cost of Goods Sold Represents the cost of clothing, equipment, and supplies sold in the Pro Shop. Golf Course Maintenance: Salaries The District currently has a 11 full-time and 2 part-time employees to handle the golf course maintenance of the District. The proposed amount includes a 5% cost of living increase for qualifying full-time employees. Administration Fee Represents fee to Applied Business Solutions for administration of pay and benefits. Applied Business Solutions charges an administration fee of $18 per employee. FICA Expense Represents the estimated amount due for Social Security (6.2%) and Medicare (1.45%) based upon the proposed salaries and wages. Health Insurance Full-time District employees are eligible for the following health benefits. Provider Policy Number Insurance Description United Healthcare 591637 Health, Accidental Death, Dental, Vision, Life & Long-Term Disability Colonial Life E3682663 Life, Accident, Short-Term Disability Combined 007394312 Accident & Disability Workers Compensation The District provides Workers Compensation insurance for each of its employees based upon statutory requirements and rates determined by Applied Business Solutions. Unemployment The District pays State and Federal unemployment for each employee based upon current rate structures. Utilities Estimated cost of basic utilities for golf operations. Vendor Account Monthly Amount Annual Amount FPL 83490-45156 2,150 $ $ 25,800 City of Cocoa 313093-70192 $ 440 $ 5,280 Contingency $ 1,000 Total $ 32,080 Repairs Any costs related to miscellaneous repairs and maintenance that occur during the fiscal year. Restaurant Repairs Any costs related to miscellaneous restaurant repairs and maintenance that occur during the fiscal year. Fuel & Oil Costs related to fuel purchased for maintenance machinery that occurs during the fiscal year. Pest Control The estimated costs for Ecolab Pest Elimination to provide monthly pest control services. Vendor Monthly Amount Annual Amount Ecolab Pest Elimination $ 375 $ 4,500 Contingency $ 100 Total $ 4,600 Irrigation/Drainage Estimated irrigation and drainage maintenance expenditures that may occur during the fiscal year. Sand/Topsoil Costs related to sand and topsoil expenditures that may occur during the fiscal year. The District buys all supplies from Golf Specialties, Inc. Some supplies may include top-dress sand, divot sand, and shell rock for the golf course. Flowers/Mulch Estimated costs of flowers and mulch for the golf course and clubhouse. Fertilizer Estimated costs of fertilizer, herbicide, insecticide, fungicide and other chemicals needed for the golf course. Seed/Sod Costs of seed and sod expenditures for the golf course that may occur during the fiscal year. Trash Removal Estimated costs for trash removal services to empty dumpster(s) once a month by Waste Management at the golf course. Vendor Monthly Amount Annual Amount Waste Management, Inc. 226 $ $ 2,712 Contingency $ 750 Total $ 3,462 Contingencies Funding of unanticipated costs. First Aid Costs of work gloves, ear plugs, support belts, and other first aid supplies needed during the fiscal year. Operating Supplies Represents various operating supplies purchased. Training Training seminars for golf course maintenance staff. Janitorial Supplies Costs of janitorial supplies that may occur during the fiscal year. Janitorial Services Costs of janitorial services that may occur during the fiscal year. Soil & Water Testing Costs for soil and water testing that may occur during the fiscal year. Uniforms The District is in contract with Unifirst to supply uniforms for the golf course maintenance staff. Unifirst comes to the District weekly to deliver clean uniforms to the staff. Vendor Monthly Amount Annual Amount Unifirst $ 900 $ 10,800 Contingency $ 750 Total $ 11,550 Equipment Rental Rental of larger capital items required for course maintenance. Equipment Lease The District currently has the following equipment leases for the golf course. Vendor Monthly Amount Annual Amount Dex Imaging $ 110 $ 1,320 The Huntington National $ 19,500 $ 234,000 Wells Fargo $ 652 $ 7,824 Total $ 2 43,144 Administrative Expenditures: Legal Fees The District's attorney will be providing general legal services to the District that are directly related to operations of the golf course, i.e. reviewing contracts, agreements, resolutions, rule amendments, etc. Engineering Fees The District's engineer, Robb & Taylor Engineering Solutions Inc, may provide engineering services for the golf course. Arbitrage The District will contract with an Independent certified public accounting firm to annually calculate the District's Arbitrage Rebate Liability on Special Assessments Revenue Bonds. Dissemination The District is required by the Security and Exchange Commission to comply with Rule 15c212(b)(5), which relates to additional reporting requirements for un-rated bond issues. Trustee Fees The District issued Special Revenue Assessment Refunding Bonds, Series 2012 bonds that are deposited with a Trustee at U.S. Bank. Annual Audit The District is required to annually have its financial records audited by an independent Certified Public Accounting Firm. Golf Course Administrative Services Cost of administrative services provided for the CDD. Description Annual Amount Base 75,000.00 $ 10% of Maintenance Supervisor $ ( 7,280.00) 50% of Labor Position $ (11,440.00) Total $ 56,280.00 Insurance Egis Insurance & Risk Advisors provide the District’s general liability, property, and crime insurance coverage. Egis Insurance & Risk Advisors also provide a three year pollution policy. Description 27536 General Liability $ 46,967 Property $ 119,165 Total $ 1 66,132 Property Taxes This amount is an estimate of property taxes that will need to be paid throughout this fiscal year. Reserves: Renewal & Replacement The golf course transfers 2% of its monthly revenues to the Capital Reserve Fund to help fund for equipment replacement and other capital expenditures estimated for the fiscal year. Viera East Community Development District Recreation Fund Debt Service - Series 2012 Amortization Schedule Fiscal Year Total Date Bond Balance Interest Principal Interest 11/01/19 3,305,000 78,412.50 $ $ 559,231.25 05/01/20 3,305,000 4.375% $410,000 $ 78,412.50 11/01/20 2,895,000 $ 70,212.50 $ 558,625.00 05/01/21 2,895,000 4.625% $425,000 $ 70,212.50 11/01/21 2,470,000 $ 60,915.63 $ 556,128.13 05/01/22 2,470,000 5.000% $445,000 $ 60,915.63 11/01/22 2,025,000 $ 50,625.00 $ 556,540.63 05/01/23 2,025,000 5.000% $470,000 $ 50,625.00 11/01/23 1,555,000 $ 38,875.00 $ 559,500.00 05/01/24 1,555,000 5.000% $490,000 $ 38,875.00 11/01/24 1,065,000 $ 26,625.00 $ 555,500.00 05/01/25 1,065,000 5.000% $520,000 $ 26,625.00 11/01/25 545,000 $ 13,625.00 $ 560,250.00 05/01/26 545,000 5.000% $545,000 $ 13,625.00 $ 558,625.00 $ 3,305,000 $ 678,581 $ 4,464,400 VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2024 VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD 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 Statement of Net Position – Proprietary Fund 13-14 Statement of Revenues, Expenses and Changes in Net Position – Proprietary Fund 15 Statement of Cash Flows – Proprietary Fund 16-17 Notes to Financial Statements 18-29 REQUIRED SUPPLEMENTARY INFORMATION Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – General Fund 30 Notes to Required Supplementary Information 31 OTHER INFORMATION Data Elements required by FL Statute 218.39 (3) (c) 32 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 33-34 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 35 MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA 36-37 INDEPENDENT AUDITOR’S REPORT To the Board of Supervisors Viera East Community Development District Brevard County, Florida Report on the Audit of the Financial Statements Opinions We have audited the accompanying financial statements of the governmental activities, the business-type activities, and each major fund of Viera East Community Development District, Brevard County, Florida (“District”) as of and for the fiscal year ended September 30, 2024, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, and each major fund of the District as of September 30, 2024, and the respective changes in financial position, and, where applicable, cash flows thereof for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinions We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the District and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Responsibilities of Management for the Financial Statements The District’s management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for 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. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS, we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit 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 District’s internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. • Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit. 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 is the responsibility of management and, 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 Information Included in the Financial Report Management is responsible for the other information included in the financial report. The other information comprises the information for compliance with FL Statute 218.39 (3) (c), but does not include the financial statements and our auditor's report thereon. Our opinions on the financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated June 3, 2025, 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. June 3, 2025 MANAGEMENT’S DISCUSSION AND ANALYSIS Our discussion and analysis of Viera East Community Development District, Brevard County, Florida (“District”) provides a narrative overview of the District’s financial activities for the fiscal year ended September 30, 2024. 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 assets plus deferred outflows of resources of the District exceeded its liabilities at the close of the most recent fiscal year resulting in a net position balance of $2,641,612. • The change in the District’s total net position in comparison with the prior fiscal year was $924,395, an increase. 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, 2024, the District’s governmental funds reported combined ending fund balances of $2,261,337, a decrease of ($62,638) in comparison with the prior fiscal year. A portion of fund balance is restricted for debt service and capital projects, non-spendable for prepaid items, assigned to capital reserves and the remainder is unassigned fund balance which is available for spending at the District’s discretion. OVERVIEW OF FINANCIAL STATEMENTS This discussion and analysis are 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. Both of the government-wide financial statements distinguish functions of the District that are principally supported by assessments (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the District include general government and physical environment functions. The business-type activities of the District include recreational activities which includes a golf course and a restaurant. 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. All of the funds of the District can be divided into two categories: governmental funds and proprietary funds. 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 outflow 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 three 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 to be major funds. The District adopts an annual appropriated budget for its general fund. A budgetary comparison schedule has been provided for the general fund to demonstrate compliance with the budget. Proprietary Fund The District maintains one type of proprietary fund, an enterprise fund. An enterprise fund is used to report the same function presented as business-type activities in the government-wide financial statements. The District uses an enterprise fund to account for the operations of the golf course and related recreational facilities within the District. Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. 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, assets plus deferred outflows of resources exceeded liabilities at the close of the most recent fiscal year. 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. GOVERNMENT-WIDE FINANCIAL ANALYSIS (Continued) The restricted portion of the District’s net position represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net position may be used to meet the District’s other obligations. Key components of the District’s net position are reflected in the following table: The District’s net position increased during the most recent fiscal year. The majority of the increase represents the extent to which ongoing program revenues exceeded the cost of operations and depreciation expense. Key elements of the change in net position are reflected in the following table: GOVERNMENT-WIDE FINANCIAL ANALYSIS (Continued) Governmental activities As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year ended September 30, 2024 was $1,913,833. The costs of the District’s activities were primarily funded by program revenues. Program revenues were comprised primarily of assessments for both the current and prior fiscal years. The District also received funds for administrative fees for the golf fund. Revenues decreased slightly in the current fiscal year. In total, expenses, including depreciation, increased from the prior fiscal year. The majority of the increase was the result of an increase in landscape maintenance and repairs. Business-type activities Business-type activities reflect the operations of the golf course and other recreational facilities within the District. The cost of operations is covered primarily by charges to customers. The District also receives revenues from assessments of residents of the District. Revenues increased as a result of increased recreational activities. The increase in total expenses is the result of increased activities at the restaurant. 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 for the fiscal year ended September 30, 2024 exceeded appropriations by ($10,265). The over expenditures were not considered material by management and no budget amendment was deemed necessary. The over expenditures were funded by available fund balance. CAPITAL ASSETS AND DEBT ADMINISTRATION Capital Assets At September 30, 2024, the District had $17,132,543 invested in capital assets for its governmental activities. In the government-wide financial statements depreciation of $11,172,932 has been taken, which resulted in a net book value of $5,959,611. The District’s business-type activities reported net capital assets of $1,779,590. More detailed information about the District’s capital assets is presented in the notes of the financial statements. Capital Debt At September 30, 2024, the District had $6,720,000 in Bonds outstanding for its governmental activities. For business-type activities, the District had $1,065,000 in Bonds outstanding. More detailed information about the District’s capital debt is presented in the notes of the financial statements. At September 30, 2024, the District had $144,423 in note payable for its governmental activities and $630,379 for its business-type activities. More detailed information about the District’s notes payable is presented in the notes of the financial statements. ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND OTHER EVENTS Subsequent to year end, it is anticipated that the general operations of the District will remain fairly constant. Golf and recreational activities are expected to increase. 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 Viera East Community Development District’s Finance Department at 219 East Livingston Street, Orlando, Florida 32801. VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA STATEMENT OF NET POSITION SEPTEMBER 30, 2024 See notes to the financial statements VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA STATEMENT OF ACTIVITIES FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2024 See notes to the financial statements VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2024 See notes to the financial statements VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION SEPTEMBER 30, 2024 See notes to the financial statements VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2024 See notes to the financial statements VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2024 See notes to the financial statements VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA STATEMENT OF NET POSITION - PROPRIETARY FUND SEPTEMBER 30, 2024 (Continued) See notes to the financial statements VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA STATEMENT OF NET POSITION - PROPRIETARY FUND SEPTEMBER 30, 2024 (Continued) See notes to the financial statements VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION - PROPRIETARY FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2024 See notes to the financial statements VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA STATEMENT OF CASH FLOWS - PROPRIETARY FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2024 (Continued) See notes to the financial statements VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA STATEMENT OF CASH FLOWS - PROPRIETARY FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2024 (Continued) See notes to the financial statements VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS NOTE 1 – NATURE OF ORGANIZATION AND REPORTING ENTITY Viera East Community Development District ("District") was created on April 16, 1991 by the Florida Land and Water Adjudicatory Commission by Chapter 42M-1, 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 ("Board"), which is composed of five members. The Supervisors are elected by registered voters, as provided by F. S. Chapter 190.006. The Board of Supervisors of the District exercise all powers granted to the District pursuant to Chapter 190, Florida Statutes. The Board has the responsibility for: 1. Assessing 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. There are no entities considered to be component units of the District; therefore, the financial statements include only the operations of the District. 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. 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 collectible 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 on benefited property within the District. Operating and maintenance assessments are based upon the adopted budget and levied annually. Debt service assessments are levied when Bonds are issued and assessed and collected on an annual basis. The District may collect assessments directly or utilize the uniform method of collection under Florida Statutes. Direct collected assessments are due as determined by annual assessment resolution adopted by the Board of Supervisors. Assessments collected under the uniform method are mailed by the County Tax Collector on November 1 and due on or before March 31 of each year. Property owners may prepay a portion or all of the debt service assessments on their property subject to various provisions in the Bond documents. 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. The District reports the following major proprietary fund: Recreation Fund The recreation fund accounts for the operation of a public golf course, restaurant, and pro shop that are financed and supported primarily by user charges. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Measurement Focus, Basis of Accounting and Financial Statement Presentation (Continued) Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of the District’s enterprise fund are charges to customers for sales and services. Operating expenses of the enterprise fund include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses. As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements. When both restricted and unrestricted resources are available for use, it is the government’s policy to use restricted resources first for qualifying expenditures, then unrestricted resources as they are needed. Assets, Liabilities and Net Position or Equity Restricted Assets These assets represent cash and investments set aside pursuant to Bond covenants or other contractual restrictions. Deposits and Investments The District’s cash and cash equivalents are considered to be cash on hand and demand deposits (interest and non-interest bearing). 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. The State Board of Administration’s (“SBA”) Local Government Surplus Funds Trust Fund (“Florida PRIME”) is a“2a-7 like” pool. A “2a-7 like” pool is an external investment pool that is not registered with the Securities and Exchange Commission (“SEC”) as an investment company, but nevertheless has a policy that it will, and does, operate in a manner consistent with the SEC’s Rule 2a-7 of the Investment Company Act of 1940, which comprises the rules governing money market funds. Thus, the pool operates essentially as a money market fund. The District has reported its investment in Florida PRIME at amortized cost for financial reporting purposes. 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. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Assets, Liabilities and Net Position or Equity (Continued) Inventories and Prepaid Items Inventories are recorded at cost using the first-in first-out method for restaurant related items and the average cost method for items sold at the Pro Shop. In the governmental funds, inventories are recorded as expenditures at the time of purchase. 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 acquisition cost. 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 Years Furniture and fixtures 5 - 7 Improvements other than buildings 15 Buildings 20 Infrastructure 30 Machinery and equipment 3 - 7 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. Leases The District is a lessee for several non-cancellable leases of equipment. The District recognizes a lease liability and an intangible right-to-use lease asset (lease asset) in the government-wide financial statements. The District recognizes lease liabilities with an initial, individual value of $5,000 or more. At the commencement of a lease, the District initially measures the lease liability at the present value of payments expected to be made during the lease term. Subsequently, the lease liability is reduced by the principal portion of lease payments made. The leased asset is initially measured as the initial amount of the lease liability, adjusted for lease payments made at or before the commencement date, plus certain direct costs. Subsequently, the leased asset is amortized on a straight-lie basis over its useful life. Key estimates and judgments related to leases include how the District determines (1) the discount rate it uses to discount the expected lease payments to present value, (2) lease term, and (3) lease payments. • The District uses the interest rate charged by the lessor as the discount rate. When the interest rate charged by the lessor is not provided, the District generally uses its estimated incremental borrowing rate as the discount rate for leases. • The lease term includes the noncancellable period of the lease. Lease payments included in the measurement of the lease liability are composed of fixed payments and purchase option price that the District is reasonably certain to exercise. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Assets, Liabilities and Net Position or Equity (Continued) Leases (Continued) The District monitors changes in circumstances that would require a remeasurement of its lease and will remeasure the lease asset and liability if certain changes occur that are expected to significantly affect the amount of the lease liability. Lease assets are reported with other capital assets and lease liabilities are reported with long-term debt on the statement of net position. Refundings of Debt For current refundings and advance refundings resulting in the defeasance of debt, the difference between the reacquisition price and the net carrying amount of the old debt is reported as a deferred outflow of resources/deferred inflow of resources and recognized ratably as a component of interest expense over the remaining life of the old debt or the life of the new debt, whichever is shorter. In connection with the refundings, $23,905 were recognized as a component of interest expense in the current fiscal year. 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 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. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Assets, Liabilities and Net Position or Equity (Continued) 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. 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) Public hearings are conducted to obtain public 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, 2024: 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 Indenture limits the type of investments held using unspent proceeds. 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. For external investment pools that qualify to be measured at amortized cost, the pool’s participants should also measure their investments in that external investment pool at amortized cost for financial reporting purposes. Accordingly, the District’s investments have been reported at amortized cost above. NOTE 4 – DEPOSITS AND INVESTMENTS (Continued) Investments (Continued) External Investment Pool – With regard to redemption gates, Chapter 218.409(8)(a), Florida Statutes, states that “The principal, and any part thereof, of each account constituting the trust fund is subject to payment at any time from the moneys in the trust fund. However, the Executive Director may, in good faith, on the occurrence of an event that has a material impact on liquidity or operations of the trust fund, for 48 hours limit contributions to or withdrawals from the trust fund to ensure that the Board can invest moneys entrusted to it in exercising its fiduciary responsibility. Such action must be immediately disclosed to all participants, the Trustees, the Joint Legislative Auditing Committee, the Investment Advisory Council, and the Participant Local Government Advisory Council. The Trustees shall convene an emergency meeting as soon as practicable from the time the Executive Director has instituted such measures and review the necessity of those measures. If the Trustees are unable to convene an emergency meeting before the expiration of the 48- hour moratorium on contributions and withdrawals, the moratorium may be extended by the Executive Director until the Trustees are able to meet to review the necessity for the moratorium. If the Trustees agree with such measures, the Trustees shall vote to continue the measures for up to an additional 15 days. The Trustees must convene and vote to continue any such measures before the expiration of the time limit set, but in no case may the time limit set by the Trustees exceed 15 days.” With regard to liquidity fees, Florida Statute 218.409(4) provides authority for the SBA to impose penalties for early withdrawal, subject to disclosure in the enrollment materials of the amount and purpose of such fees. At present, no such disclosure has been made. As of September 30, 2024, there were no redemption fees or maximum transaction amounts, or any other requirements that serve to limit a participant’s daily access to 100% of their account value. NOTE 5 – INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS Interfund receivables and payables at September 30, 2024 were as follows: 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 general fund and the capital project funds relate to renovation costs of the capital projects fund that were paid from the general fund, but not yet reimbursed as of year end. Likewise, the balances between the general fund and the enterprise fund relate to payroll and other expenses of the general fund which were not yet reimbursed as of current year end. Interfund transfers for the fiscal year ended September 30, 2024 were as follows: 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 enterprise fund to the general fund was to fund operations. NOTE 6 – CAPITAL ASSETS Capital asset activity for the fiscal year ended September 30, 2024 was as follows: In a prior year, the District issued the Series 2020 bonds primarily to fund capital improvements, which include, but are not limited to clubhouse renovations and other recreation facilities including restroom, dog park and playground improvements (collectively, the “Series 2020 Project”). The cost of these improvements is estimated at approximately $6,022,585, however, the District is not obligated to fund all potential improvements. Depreciation expense was charged to physical environment function for governmental activities and the recreation function for business-type activities. NOTE 7 – LONG-TERM LIABILITIES Series 2012 On March 13, 2012, the District issued $5,805,000 of Special Assessment Revenue Refunding Bonds Series 2012 due May 1, 2026, with interest rates ranging from 2.5% to 5.0%. The Bonds were issued for the current refunding of the Series 1996 Bonds. 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, 2013 through May 1, 2026. The Series 2012 Bonds are secured by the pledged revenue as defined in the Master Trust Indenture. The Series 2012 Bonds maturing prior to May 1, 2022 are not subject to optional redemption. The Bonds maturing on or after May 1, 2023 are subject to redemption prior to maturity at the option of the District at any time after May 1, 2022. The Bonds are subject to mandatory redemption requirements in the manner outlined in the Bond Indenture. 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 procedures to be followed in the collection of pledged revenues and the application of the revenues to the various restricted accounts. The District was in compliance with the requirements of the Bond Indenture as if September 30, 2024. Series 2020 On July 8, 2020, the District issued $7,685,000 of Special Revenue Assessment Bonds Series 2020 consisting of $3,820,000 Serial Bonds due on May 1, 2030 with a interests ranging from 2% to 2.125%; $1,715,000 Term Bonds due on May 1, 2034 with a fixed interest rate of 2.60%; and $2,150,000 Term Bonds due on May 1, 2038 with a fixed interest rate of 2.75%. The Bonds were issued to acquire and construct certain assessable improvements and pay certain costs associated with the issuance of the Bonds. 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, 2023 through May 1, 2038. The Series 2020 Bonds maturing on or prior to May 1, 2030 are not subject to redemption at the option of the District prior to their stated dates of maturity. The Series 2020 Bonds maturing on or after May 1, 2031 are subject to redemption prior to maturity at the option of the District in whole or in part at any time on or after May 1, 2030. The Series 2020 Bonds are subject to extraordinary mandatory redemption prior to maturity in the manner determined by the Bond Registrar if certain events occurred as outlined in the Bond Indenture. The Bond Indenture provides for a surety bond to be obtained in place of funding for the a portion of the Debt Service Reserve Fund (the “Reserve Fund”). The Debt Service Reserve Fund Surety Bond constitutes a Debt Service Reserve Fund Insurance Policy under the Bond Indenture. The District has obtained the required bonding and is in compliance with the reserve requirement. The remaining funding for the reserve requirement has been met. The Bond Indenture established 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. The District was in compliance with the requirements at September 30, 2024. NOTE 7 – LONG-TERM LIABILITIES (Continued) Long-term Debt Activity Changes in long-term liability activity for the fiscal year ended September 30, 2024 were as follows: At September 30, 2024, the scheduled debt service requirements on the long-term debt were as follows: NOTE 8 – NOTES PAYABLE Financed Purchase Agreements At September 30, 2024, the District had the following financed purchase agreements for both its governmental and business-type activities: NOTE 8 – NOTES PAYABLE (Continued) The scheduled payments for years ending after September 30, 2024 are as follows: Right-to-use leased assets payable At September 30, 2024, the District was a lessee in the following equipment leases: The total value of the lease liabilities was $630,379. The total value of the right-to-use assets as of September 30, 2024 was $743,076 with an accumulated amortization of $128,697. The District has the option to purchase the assets any time before the expiration of the leases. The scheduled payments for years ending after September 30, 2024 are as follows: NOTE 9 – MANAGEMENT COMPANY The District has contracted with a management company to perform management advisory services, which include financial and accounting services. Certain employees of the management company also serve as officers of the District. Under the agreement, the District compensates the management company for management, accounting, financial reporting, computer and other administrative costs. NOTE 10 – COMMITMENTS AND CONTINGENCIES As of September 30, 2024, the District had an open contract for a restoration project. The contract totaled approximately $262,800 of which approximately $210,240 was uncompleted at September 30, 2024. NOTE 11 – 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. VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2024 See notes to required supplementary information VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA 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 for the fiscal year ended September 30, 2024 exceeded appropriations by ($10,265). The over expenditures were not considered material by management and no budget amendment was deemed necessary. The over expenditures were funded by available fund balance. VIERA EAST COMMUNITY DEVELOPMENT DISTRICT BREVARD COUNTY, FLORIDA OTHER INFORMATION – DATA ELEMENTS REQUIRED BY FL STATUTE 218.39(3)(C) FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2024 UNAUDITED 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 Viera East Community Development District Brevard 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, the business-type activities and each major fund of Viera East Community Development District, Brevard County, Florida (“District”) as of and for the fiscal year ended September 30, 2024, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our opinion thereon dated June 3, 2025. Report on 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. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified. Report on 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. 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. June 3, 2025 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 Viera East Community Development District Brevard County, Florida We have examined Viera East Community Development District, Brevard 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, 2024. Management is responsible for District’s compliance with those requirements. Our responsibility is to express an opinion on 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,35hetherr 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. We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the examination engagement. In our opinion, the District complied, in all material respects, with the aforementioned requirements for the fiscal year ended September 30, 2024. 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 Viera East Community Development District, Brevard County, Florida and is not intended to be and should not be used by anyone other than these specified parties. June 3, 2025 MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL FOR THE STATE OF FLORIDA To the Board of Supervisors Viera East Community Development District Brevard County Report on the Financial Statements We have audited the accompanying basic financial statements of Viera East Community Development District, Brevard County, Florida ("District") as of and for the fiscal year ended September 30, 2024, and have issued our report thereon dated June 3, 2025. 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 Florida 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 June 3, 2025, 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 for 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 Viera East Community Development District, Brevard County, Florida and is not intended to be and should not be used by anyone other than these specified parties. We wish to thank Viera East Community Development District, Brevard 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. June 3, 2025 REPORT TO MANAGEMENT I. CURRENT YEAR FINDINGS AND RECOMMENDATIONS None II. PRIOR YEAR FINDINGS None 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, 2023. 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, 2024. 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, 2024. 4. The name or official title and legal authority of the District are disclosed in the notes to the financial statements. 5. The District has not met one or more of the financial emergency conditions described in Section 218.503(1), Florida Statutes. 6. We applied financial condition assessment procedures and no deteriorating financial conditions were noted. 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. 7. Management has provided the specific information required by Section 218.39(3)(c) in the Other Information section of the financial statements on page 32. Viera East Community Development District Inspected: September 12, 2024 • Revised on: June 06, 2025 Rockledge, FL RESERVE STUDY Reserve Advisors, LLC 735 N. Water Street, Suite 175 Milwaukee, WI 53202 Rockledge, Florida Viera East Community Development District Supervisors of Viera East Community Development District: Rockledge, Florida and Management that recognizes the need for proper reserve planning, we have conducted a Reserve Study of Viera East Community Development District in Rockledge, Florida and submit our findings in this report. The effective date of this study is the date of our visual, noninvasive inspection, September 12, 2024. Reserve Study exceeds the Association of Professional Reserve Analysts (APRA) standards fulfilling the requirements of a “Level II Reserve Study Update.” Dear Board of Supervisors of Viera East Community Development District: and Management and an Update of this Reserve Study are necessary to ensure an equitable funding plan since a Reserve Study is a snapshot in time. We recommend the District budget for an Update to this Reserve Study in two- to three-years. We look forward to continuing to help Viera East Community Development District plan for a successful future. At the direction of the Board and Management that recognizes the need for proper reserve planning, we have conducted a Reserve Study of Viera East Community Development District in Rockledge, Florida and submit our findings in this report. The effective date of this study is the date of our visual, noninvasive inspection, September 12, 2024. -term thinking and everyday commitment to our clients, we are available to answer any questions you may have regarding this study. This Reserve Study exceeds the Association of Professional Reserve Analysts (APRA) standards fulfilling the requirements of a “Level II Reserve Study Update.” June 6, 2025 by An ongoing review by the Board and Management and an Update of this Reserve Study are necessary to ensure an equitable funding plan since a Reserve Study is a snapshot in time. We recommend the District budget for an Update to this Reserve Study in two- to three-years. We look forward to continuing to help Viera East Community Development District plan for a successful future. As part of our long-term thinking and everyday commitment to our clients, we are available to answer any questions you may have regarding this study. Inspection and Report by: Jared W. Kelley Review by: Tamara S. Samhouri, RS Respectfully submitted on June 6, 2025 by Reserve Advisors, LLC Alan M. Ebert, RS, PRA Visual Inspection and Report by: Jared W. Kelley Review by: Tamara S. Samhouri, RS1, Quality Assurance Engineer Alan M. Ebert, RS, PRA2, Director of Quality Assurance Associations Institute (CAI) representing America's more than 300,000 condominium, cooperative and homeowners associations. Reserve Analysts. Learn more about APRA at http://www.apra-usa.com. Table of Contents 1. RESERVE STUDY EXECUTIVE SUMMARY ..................................................1.1 2. RESERVE STUDY REPORT ...........................................................................2.1 3. RESERVE EXPENDITURES and FUNDING PLAN ........................................3.1 4. RESERVE COMPONENT DETAIL ..................................................................4.1 GOLF - Clubhouse Exterior Building Elements ................................................4.1 Doors, Metal ...............................................................................................4.1 Patio, Gemstone Coating ...........................................................................4.2 Railings, Aluminum .....................................................................................4.3 Roof Assemblies, Asphalt Shingles ............................................................4.5 Walls, Stucco ..............................................................................................4.9 Windows and Doors ...................................................................................4.11 GOLF - Clubhouse Interior Building Elements .................................................4.14 Bar and Countertop ....................................................................................4.14 Ceilings, Acoustical Tiles and Grid .............................................................4.15 Floor and Wall Coverings, Ceramic Tile, Kitchen .......................................4.16 Floor Coverings, Carpet, Pro Shop and Offices..........................................4.17 Furnishings, Pro Shop ................................................................................4.18 Furnishings, Restaurant .............................................................................4.19 Light Fixtures, Pendants and Chandeliers ..................................................4.21 Rest Room, Cart Barn ................................................................................4.22 Rest Rooms, Main ......................................................................................4.22 Sales Counter and Cabinetry, Pro Shop .....................................................4.24 Window Treatments, Restaurant ................................................................4.25 GOLF – Clubhouse Kitchen Equipment ...........................................................4.27 GOLF - Clubhouse Building Services Elements ..............................................4.32 Air Handling Units .......................................................................................4.32 Computer Equipment, Point of Sale and Workstations ...............................4.33 Condensing Units .......................................................................................4.34 Defibrillator .................................................................................................4.36 Ice Machine, Cart Barn ...............................................................................4.36 Life Safety System ......................................................................................4.37 Security System ..........................................................................................4.38 Water Heater ..............................................................................................4.40 GOLF - Property Site Elements .......................................................................4.42 Furnishings, Outdoor Patio .........................................................................4.42 GOLF - Golf Course Elements .........................................................................4.44 Ball Machine, Driving Range ......................................................................4.45 Ball Washer ................................................................................................4.45 Bulkheads, Timber ......................................................................................4.46 Bunkers ......................................................................................................4.48 Concrete Cart Paths ...................................................................................4.49 Greens ........................................................................................................4.51 Irrigation System, Controllers .....................................................................4.52 Irrigation System, Pipes, Heads and Valves ...............................................4.53 Irrigation System, Pump Station .................................................................4.54 Rest Room Buildings ..................................................................................4.55 Tees ...........................................................................................................4.57 Yardage and Hole Markers, Stone .............................................................4.58 GENERAL - Clubhouse Elements ....................................................................4.60 Computer Equipment, Workstations, Accounting .......................................4.60 Furnishings .................................................................................................4.60 GENERAL - Pond Elements ............................................................................4.61 Pond, Aerator, Woodside Park ...................................................................4.61 Drainage Control Structures .......................................................................4.61 Outflow Pipes, Mitered End Sections .........................................................4.62 GENERAL - Property Site Elements ................................................................4.64 Asphalt Pavement, Repaving .....................................................................4.64 Bridges, Pedestrian, Recreation Lake ........................................................4.67 Catch Basins ..............................................................................................4.69 Concrete Curbs and Gutters .......................................................................4.70 Concrete Sidewalks ....................................................................................4.72 Light Poles and Fixtures, Clubhouse Parking Area ....................................4.75 GENERAL - Woodside Park Elements ............................................................4.77 Bridges, Pedestrian, Playground and Dog Park .........................................4.77 Dog Park Features .....................................................................................4.78 Fences, Chain Link .....................................................................................4.79 Fences, Wood, Split Rail ............................................................................4.80 Irrigation System, Pump .............................................................................4.82 Irrigation System, Replacement..................................................................4.82 Playground Equipment ...............................................................................4.83 Rest Room Building ....................................................................................4.85 Shade Structures ........................................................................................4.86 Site Furniture ..............................................................................................4.87 GOLF and GENERAL - Maintenance Facility Elements ..................................4.89 Asphalt Pavement, Repaving .....................................................................4.89 Carport, Irrigation Pump Station .................................................................4.91 Carport, Vehicle and Equipment Storage ...................................................4.91 Concrete Flatwork ......................................................................................4.92 Fences, Chain Link .....................................................................................4.93 Fertilizer Building ........................................................................................4.95 Light Poles and Fixtures .............................................................................4.97 Material Storage Bins .................................................................................4.98 Storage Shed..............................................................................................4.98 Tanks ..........................................................................................................4.99 GOLF and GENERAL - Maintenance Building Elements .................................4.101 Air Handling and Condensing Units, Split System ......................................4.101 Doors, Overhead ........................................................................................4.103 Ice Machine ................................................................................................4.104 Interior Renovations ...................................................................................4.104 Metal Frame, Roof and Siding ....................................................................4.105 Windows and Doors ...................................................................................4.107 GOLF and GENERAL - Maintenance Equipment ............................................4.109 Reserve Study Update .....................................................................................4.112 5. METHODOLOGY ............................................................................................5.1 6. CREDENTIALS ...............................................................................................6.1 7. DEFINITIONS ..................................................................................................7.1 8. PROFESSIONAL SERVICE CONDITIONS ....................................................8.1 Page 1.1 - Executive Summary 1. RESERVE STUDY EXECUTIVE SUMMARY Client: Viera East Community Development District (Viera East) Location: Rockledge, Florida Reference: 081121 Property Basics: Viera East Community Development District is a local governmental entity which is responsible for the common elements shared by 6,073 single family homes, multifamily developments, and commercial units in Brevard County, Florida. Development of the district was approved in 1991 as authorized by Chapter 190 of the Florida Statutes. Construction of the common elements began in approximately 1994 and was completed by approximately 2005. The Community Development District maintains a public golf course with related infrastructure and amenities, several parks, a system of nature trails and walking paths, and the storm water management system including more than 80 ponds and lakes. Reserve Components Identified: Viera East uses multiple cost centers. We identify the following number of Reserve Components per cost center • Golf Course Expenditures: 113 Reserve Components • General Fund Expenditures: 63 Reserve Components Inspection Date: September 12, 2024. We conducted a previous inspection on January 22, 2009. Funding Goal: The Funding Goal of this Reserve Study is to maintain reserves above an adequate, not excessive threshold during one or more years of significant expenditures. • Golf Course: Our recommended Cash Flow Funding Plan recognizes this threshold funding year in 2052 due to the replacement of the golf course irrigation system pipes, heads, valves and controllers. In addition, the Reserve Funding Plan recommends 2055 year end accumulated reserves of approximately $3,344,651. We judge this amount of accumulated reserves in 2055 necessary to fund the likely subsequent rebuilding of the greens and tee areas after 2055. These future needs, although beyond the limit of the Cash Flow Analysis of this Reserve Study, are reflected in the amount of accumulated 2055 year end reserves. • General Fund: Our recommended Cash Flow Funding Plan recognizes these threshold funding years in 2044 due to the implementation of erosion control measures at the ponds and in 2051 due to the replacement of the light truck maintenance vehicles. In addition, the Reserve Funding Plan recommends 2055 year end accumulated reserves of approximately $308,858. We judge this amount of accumulated reserves in 2055 necessary to fund the replacement of the pedestrian bridges at the recreation lake and repaving of the clubhouse parking area after 2055. These future needs, although beyond the limit of the Cash Flow Analysis of this Reserve Study, are reflected in the amount of accumulated 2055 year end reserves. Methodology: We use the Cash Flow Method to compute the Reserve Funding Plan. This method offsets future variable Reserve Expenditures with existing and future stable levels of reserve funding. Our application of this method also considers: • Current and future local costs of replacement • 3.0% anticipated annual rate of return on invested reserves • 3.3% future Inflation Rate for estimating Future Replacement Costs Page 1.2 - Executive Summary Project Prioritization: We note anticipated Reserve Expenditures for the next 30 years in the Reserve Expenditures tables and include a Five-Year Outlook table following the Reserve Funding Plan in section 3. We recommend the District prioritize the following projects in the next five years based on the conditions identified: • Golf Course Priority Projects: • Partial replacement of concrete cart paths to address undermining, cracks and settlement • Replacement of the various Golf Course vehicles and maintenance equipment as necessary • Interior renovations at the maintenance building with coordinated paint finish applications to the exposed structural frame, metal siding and roof • Replacement of yardage and hole markers to maintain the desired appearance of the course • Renovation of the rest room buildings to ensure player comfort while on the course • General Fund Priority Projects: • Replacement of the various District vehicles and maintenance equipment as necessary • Inspections and capital repairs to the drainage control structures and stormwater outflow pipes to ensure continued functionality • Partial replacement of concrete sidewalks and nature trails to address trip hazards, cracks and settlement Page 1.3 - Executive Summary Golf Course Cost Center Unaudited Cash Status of Reserve Fund: • Fiscal Year 2024 begins October 1, 2023 and ends September 30, 20241 • $982,675 as of September 30, 2024 which EXCLUDES any Interest allocated to the Golf Course Reserve Fund • 2024 budgeted Reserve Contributions of $140,691 • 2025 budgeted Reserve Contributions of $84,000 • The Association informs us that approximately $200,000 will be added annually to the Golf Course Reserve as a result of excess revenue • A potential deficit in reserves was not identified during the first five years of the analysis based upon the most recent annual reserve contribution of $284,000 and the identified Reserve Expenditures. Recommended Reserve Funding: We recommend the following in order to achieve a stable and equitable Cash Flow Methodology Funding Plan: • Increase Golf Course Reserve Contributions to $192,000 in 2026, and contribute the anticipated $200,000 in excess revenue annually • Inflationary increases in the recommended Reserve Contribution thereafter through 2054, the limit of this study's Cash Flow Analysis • The District may ascribe the actual contributions and assessments per owner based upon percent ownership, as defined by the District’s governing documents 1 The Fiscal Year (FY 2024) for Viera East CDD begins October 1, 2023, and ends September 30, 2024. For brevity, we refer to the Fiscal Year by its ending year, i.e. Fiscal Year 2023-24 is FY 2024 or simply 2024. Page 1.4 - Executive Summary Recommended Reserve Funding Table and Graph Year Reserve Contributions ($) Reserve Balances ($) Year Reserve Contributions ($) Reserve Balances ($) Year Reserve Contributions ($) Reserve Balances ($) 2025 84,000 (Budgeted) 904,294 2035 257,200 2,092,158 2045 356,100 5,343,334 2026 192,000 1,055,383 2036 265,700 2,480,357 2046 367,900 5,835,527 2027 198,300 1,446,706 2037 274,500 2,750,006 2047 380,000 6,569,737 2028 204,800 1,741,246 2038 283,600 3,154,331 2048 392,500 6,893,413 2029 211,600 2,017,289 2039 293,000 3,334,823 2049 405,500 6,608,977 2030 218,600 1,634,329 2040 302,700 3,409,082 2050 418,900 6,672,718 2031 225,800 1,983,683 2041 312,700 3,650,870 2051 432,700 7,178,468 2032 233,300 1,453,969 2042 323,000 4,224,598 2052 447,000 2,154,171 2033 241,000 1,806,538 2043 333,700 4,871,870 2053 461,800 2,789,550 2034 249,000 1,806,962 2044 344,700 5,066,290 2054 477,000 3,344,651 -8000 -6000 -4000 -2000 0 2000 4000 6000 8000 Reserve Expenditures Recommended Reserve Contributions Year-End Reserve Balances Page 1.5 - Executive Summary General Fund Cost Center Unaudited Cash Status of Reserve Fund: • Fiscal Year 2024 begins October 1, 2023 and ends September 30, 2024. • $592,672 as of September 30, 2024 which EXCLUDES any interest allocated to the General Reserve Fund • FY2024 budgeted Reserve Contributions of $96,816 • FY2025 budgeted Reserve Contributions of $31,777 • The Association informs us that approximately $50,000 will be added annually to the Golf Course Reserve as a result of excess revenue • A potential deficit in reserves was not identified during the first five years of the analysis based upon the most recent annual Reserve contribution of $81,777 and the identified Reserve Expenditures. Recommended Reserve Funding: We recommend the following in order to achieve a stable and equitable Cash Flow Methodology Funding Plan: • Increase General Reserve Contributions to $55,000 in 2026, and contribute the anticipated $50,000 in excess revenue annually • Inflationary increases in the recommended Reserve Contribution thereafter through 2054, the limit of this study's Cash Flow Analysis • The District may ascribe the actual contributions and assessments per owner based upon percent ownership, as defined by the District’s governing documents Page 1.6 - Executive Summary Recommended Reserve Funding Table and Graph Year Reserve Contributions ($) Reserve Balances ($) Year Reserve Contributions ($) Reserve Balances ($) Year Reserve Contributions ($) Reserve Balances ($) 2025 31,777 (Budgeted) 693,456 2035 73,700 924,400 2045 102,200 312,284 2026 55,000 748,121 2036 76,100 693,031 2046 105,600 363,608 2027 56,800 834,437 2037 78,600 787,384 2047 109,100 490,812 2028 58,700 784,020 2038 81,200 886,613 2048 112,700 441,202 2029 60,600 797,803 2039 83,900 741,299 2049 116,400 412,500 2030 62,600 788,751 2040 86,700 774,420 2050 120,200 481,122 2031 64,700 804,018 2041 89,600 766,655 2051 124,200 244,491 2032 66,800 828,905 2042 92,600 896,521 2052 128,300 184,399 2033 69,000 938,124 2043 95,700 480,288 2053 132,500 305,425 2034 71,300 779,853 2044 98,900 238,626 2054 136,900 308,858 -800 -600 -400 -200 0 200 400 600 800 1000 1200 Reserve Expenditures Recommended Reserve Contributions Year-End Reserve Balances Page 2.1 - Report 2. RESERVE STUDY REPORT At the direction of the Board that recognizes the need for proper reserve planning, we have conducted a Reserve Study of Viera East Community Development District Rockledge, Florida and submit our findings in this report. The effective date of this study is the date of our visual, noninvasive inspection, September 12, 2024. We conducted the original inspection on January 22, 2009. We present our findings and recommendations in the following report sections and spreadsheets: • Identification of Property - Segregates all property into several areas of responsibility for repair or replacement • Reserve Expenditures - Identifies reserve components and related quantities, useful lives, remaining useful lives and future reserve expenditures during the next 30 years • Reserve Funding Plan - Presents the recommended Reserve Contributions and year-end Reserve Balances for the next 30 years • Five-Year Outlook - Identifies reserve components and anticipated reserve expenditures during the first five years • Reserve Component Detail - Describes the reserve components, includes photographic documentation of the condition of various property elements, describes our recommendations for repairs or replacement, and includes detailed solutions and procedures for replacements for the benefit of current and future Board of Supervisors members and Management professionals • Methodology - Lists the national standards, methods and procedures used to develop the Reserve Study • Definitions - Contains definitions of terms used in the Reserve Study, consistent with national standards • Professional Service Conditions - Describes Assumptions and Professional Service Conditions • Credentials and Resources Page 2.2 - Report IDENTIFICATION OF PROPERTY Our investigation includes Reserve Components or property elements as set forth in your Declaration or which were identified as part of your request for proposed services. The Expenditure tables in Section 3 list the elements contained in this study. Our analysis begins by segregating the property elements into several areas of responsibility for repair and replacement. Our process of identification helps assure that future boards and the management team understand whether reserves, the operating budget or Owners fund certain replacements and assists in preparation of the annual budget. We derive these segregated classes of property from our review of the information provided by the District and through conversations with Management and the Board. These classes of property include: • Reserve Components • Long-Lived Property Elements • Operating Budget Funded Repairs and Replacements • Property Maintained by Owners • Property Maintained by Others We advise the Board conduct an annual review of these classes of property to confirm its policy concerning the manner of funding, i.e., from reserves or the operating budget. Reserve Components are defined by CAI as property elements with: • Viera East responsibility • Limited useful life expectancies • Predictable remaining useful life expectancies • Replacement cost above a minimum threshold The following tables depict the items excluded from the Reserve Expenditure plan: • Drainage Control Structures, Metal Grates • Electrical Systems, Common¹ r • Eye Wash Stations, Maintenance Facility and Cart Barnt • Fences and Gates, Wood (Excl. Woodside Park) t • Lights, Interior, Cart Barn and Maintenance Building¹ • Kitchen Equipment, Blender, Coffee Brewer, Espresso Machine, Hot Dog Steamer, Microwave and Warming Light• Kitchen Equipment, Griddle, OutdoorThe operating budget provides money for the repair and replacement of certain Reserve Components. The Association may develop independent criteria for use of operating and reserve funds. • Landscape, Mowing, Gravelling, and Maintenance• Electrical Systems, Common¹ • Exhaust System and Ductwork, Cart Barn • Eye Wash Stations, Maintenance Facility and Cart Barn • Fairways, Maintenance • Fences and Gates, Wood (Excl. Woodside Park) • Light Poles, Clubhouse Parking Area, Paint Finishes • Lights, Interior, Cart Barn and Maintenance Building¹ • Kitchen Equipment, Blender, Coffee Brewer, Espresso Machine, Hot Dog Steamer, Microwave and Warming Light • Kitchen Equipment, Griddle, Outdoor • Landscape, Mowing, Gravelling, and Maintenance • Laundry Equipment • Light Fixtures and Ceiling Fans, Clubhouse Exterior and Starter's Station¹ • Light Fixtures, Clubhouse Parking Area and Maintenance Facility, Interim Replacement • Fertilizer Building and Storage Room, Interior • Fish Screens¹ • Flagpoles • Folding Furniture¹ • Furnishings, Clubhouse Offices, Interim Replacements • Gravel and Dirt Hiking Trails • Concrete Curbs, Maintenance Facility • Detail Lighting, Pro Shop¹ • Dog Park Features, Interim Replacement • Doors, Interior • Appliances, Cart Barn¹ • Beverage Cooler, Pro Shop • Bunkers, Interim Maintenance • Carports, Maintenance Facility, Paint Finishes and Interim Repairs • Carts and Utility Vehciles, Repairs • Ceiling Coverings, Maintenance Building • Computer Equipment, Peripherals¹ • Laundry EquipmentExclusions Lists -Section 2 -1 of 4 Excluded Components for Viera Eastr Rockledge, Floridat ² Annual expenditure t • Valves, Backflow Prevention, Common Buildings • Vehicle Barriers, Nature Trails• Wall Display Systems, Pro Shop• Valves, Backflow Prevention, Common Buildings • Vehicle Barriers, Nature Trails • Wall Display Systems, Pro Shop • Wetlands and Conservation Areas • Yardage and Hole Markers, Detail Paint Finish Applications, Repairs and Resetting • Storage Shed, Maintenance Facility, Interior • Striping and Wheel Stops, Woodside Park and Clubhouse Parking Areas • Tanks, Fuel Storage and Oil Separation, Pump Systems • Telephone Systems • Televisions, Restaurant and Patio • Tools and Equipment, Handheld • Security Light Fixtures¹ • Shade Structures, Woodside Park, Paint Finishes • Shelving, Maintenance Building • Signage • Skylights, Maintenance Building, Interim Repairs • Storage Shed, Maintenance Facility, Interim Repairs • Mirrors, Nature Trails • Motors, Interim Replacement • Overhead Dors • Rest Room Buildings, Golf Course, Louvers • Rest Room, Cart Barn, Paint Finish Applications • Restaurant, Decorative Signage and Wood Accent Wall • Restaurant, Linens, Tableware, Flatware, Menus, Napkin Dispensers and Cooking Utensils¹ • Roof Assemblies, Clubhouse and Starter's Station, Periodic Inspections • Security Gate, Rest Room Building, Woodside Park • Paint Finishes, Touch Up • Playground Equipment, Crawling Tunnel, Detail Paint Finish Applications • Ponds, Aerators • Ponds, Chemical Treatments • Ponds, Erosion Control² • Recessed Lighting, Clubhouse¹ • Wetlands and Conservation Areas ² Annual expenditure • Yardage and Hole Markers, Detail Paint Finish Applications, Repairs and ResettingExclusions Lists -Section 2 -2 of 4 Excluded Components for Viera Eastr Rockledge, Floridat • Homes and Lots, Single-Family Developmentst • Pipes, Interior Building, Domestic Water and Sanitary Waste • Pipes, Subsurface, Storm Water Drainage• Ponds, Sediment Removal• Structural Frames, Common Buildings ¹ Management reports that the freestanding outdoor refrigerators and freezers will be removed upon installation of the new walk-in fridge/freezer combination unit. to 85+N/AIndeterminateN/AIndeterminateN/AOwners Responsibility ComponentsCertain items have been designated as the responsibility of the Owners to repair or replace at their cost, including items billed back. IndeterminateIndeterminateN/AIndeterminateN/A• Cart Barn, Concrete Floor• Foundations, Common BuildingsThese elements may not have predictable Remaining Useful Lives or their replacement may occur beyond the scope of this study. The operating budget should fund infrequent repairs. Funding untimely or unexpected replacements from reserves will necessitate increases to Reserve Contributions. Periodic updates of this Reserve Study will help determine the merits of adjusting the Reserve Funding Plan. Useful LifeEstimated CostN/Ato 80+N/ALong-Lived Components Owners Responsibility Components Certain items have been designated as the responsibility of the Owners to repair or replace at their cost, including items billed back. • Commercial, Religious and Institutional Developments • Homes and Lots, Single-Family Developments Printed on 6/6/2025 Exclusions Lists -Section 2 -3 of 4 Excluded Components for Viera Eastr Rockledge, Floridat 5 1703 Mission Bay Circle (FL) Owner LLCt 7 School Board of Brevard County 8 Brevard County. Individual Condominium Associations• Suseda Park¹ • The Greens Condominiums. • The Lakes Condominiums.. ² Individual Subdivision Associations5 • Mission Bay Circle Apartments56 • School Elements, Ralph M. Williams Jr. Elementary77 • Street Systems, Gated Communities (Incl. Sidewalks, Curbs and Gutters, and Catch Basins)²• Street Systems, Gated Communities (Incl. Sidewalks, Curbs and Gutters, and Catch Basins)² • Street Systems, Public (Incl. Sidewalks, Curbs and Gutters, and Catch Basins)8 • Entrance Monuments, Subdivisions² • Gates, Operators and Entry Systems² • Golf Carts, Rental and Beverage (Incl. Charging Systems)³ • Indian River Colony Club Elements (Incl. Ponds, Golf Course and Clubhouse) 4 • Golf Carts, Rental and Beverage (Incl. Charging Systems)³ • Maintenance Equipment, Golf Course, Greensmaster, Reelmaster and Groundsmaster Mowers and Equipment, Sand Pro Bunker Maintenance Equipment, Cushman and Yamaha Utility Vehicles and Golf Carts³ • Clubhouse Park Elements¹ • Clubhouses and Pools² • Crane Creek and Six Mile Creek Elements (Incl. Ponds & Twin Creeks Park)² • Cross Creek Elements (Incl. Ponds)² 4 • Irrigation Systems, Subdivision Entrance Monuments² 5 • Clubhouse Park Elements¹ 6 • Crane Creek and Six Mile Creek Elements (Incl. Ponds & Twin Creeks Park)² 7 Others Responsibility Components8 Brevard County . Individual Condominium Associations ¹ Viera East Community Association, Inc. ² Individual Subdivision Associations ³ Leased Printed on 6/6/2025 Exclusions Lists -Section 2 -4 of 4 Page 3.1 - Reserve Expenditures and Funding Plan 3. RESERVE EXPENDITURES and FUNDING PLAN The tables following this introduction present: Reserve Expenditures • Line item numbers • Total quantities • Quantities replaced per phase (in a single year) • Reserve component inventory • Estimated first year of event (i.e., replacement, application, etc.) • Life analysis showing - useful life - remaining useful life • FY2025 local cost of replacement - Per unit - Per phase - Replacement of total quantity • Percentage of future expenditures anticipated during the next 30 years • Schedule of estimated future costs for each reserve component including inflation Reserve Funding Plan • Reserves at the beginning of each year • Total recommended reserve contributions • Estimated interest earned from invested reserves • Anticipated expenditures by year • Anticipated reserves at year end Five-Year Outlook • Line item numbers • Reserve component inventory of only the expenditures anticipated to occur within the first five years • Schedule of estimated future costs for each reserve component anticipated to occur within the first five years The purpose of a Reserve Study is to provide an opinion of reasonable annual Reserve Contributions. Prediction of exact timing and costs of minor Reserve Expenditures typically will not significantly affect the 30-year cash flow analysis. Adjustments to the times and/or costs of expenditures may not always result in an adjustment in the recommended Reserve Contributions. Financial statements prepared by the District, by you or others might rely in part on information contained in this section. For your convenience, we have provided an electronic data file containing the tables of Reserve Expenditures and Reserve Funding Plan. Golf CourseYears 2024 to 2039 Years 2024 to 2039RESERVE EXPENDITURES Explanatory Notes: 3.3% is the estimated Inflation Rate for estimating Future Replacement Costs. Viera East 2) FY2024 is Fiscal Year beginning October 1, 2024 and ending September 30, 2025. Community Development District 1) 3.3% Life Analysis, Costs, $ Percentage Line Total Per Phase 1st Year of Years Unit Per Phase Total of Future RUL = 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Item Quantity Quantity Units Reserve Component Inventory Event Useful Remaining (2024) (2024) (2024) Expenditures FY2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 is the estimated Inflation Rate for estimating Future Replacement Costs. Viera East2) 7 Each Doors, Metal, Rest Rooms and Utility 2029 to 35 5 1,800.00 12,600 12,600 0.1% 14,821 FY2024is Fiscal Year beginning October 1, 2024 and ending September 30, 2025.7,450 Square Feet Patio, Gemstone Coating, Interim Sealant Application (Incl. Restaurant and Rest Room Floors) 2026 4 to 6 2 4.00 29,800 29,800 1.5% 31,799 38,638 46,948 Community Development District1.102 7,450 7,450 Square Feet Patio, Gemstone Coating (Incl. Restaurant and Rest Room Floors) 2044 20 to 25 20 22.00 163,900 163,900 2.0% 1.103 310 310 Linear Feet Railings, Aluminium, Patio 2034 to 35 10 140.00 43,400 43,400 0.4% 60,047 1.104 205 205 Squares Roof Assemblies, Asphalt Shingles (Incl. Starter's Station) 2040 12 to 18 16 480.00 98,400 98,400 1.0% 1.105 9,600 9,600 Square Feet Walls, Stucco, Paint Finishes and Capital Repairs (Incl. Starter's Station) 2027 5 to 7 3 2.00 19,200 19,200 0.8% 21,164 26,565 1.106 1,150 1,150 Square Feet Windows and Doors, Pro Shop and Restaurant 2034 to 40 10 110.00 126,500 126,500 1.1% 175,022 Clubhouse Interior Building Elements 1.200 1 1 Allowance Bar and Countertop, Restaurant (Incl. Patio Bar and Starter's Station) 2038 15 to 20 14 12,500.00 12,500 12,500 0.1% 19,693 1.201 2,000 2,000 Square Feet Ceilings, Acoustical Tiles and Grid (Incl. Light Fixtures) 2028 to 30 4 8.50 17,000 17,000 0.1% 19,358 1.202 780 780 Square Feet Floor and Wall Coverings, Ceramic Tile, Kitchen 2032 to 30 8 12.00 9,360 9,360 0.1% 12,136 1.203 170 170 Square Yards Floor Coverings, Carpet, Pro Shop and Offices 2030 8 to 10 6 56.00 9,520 9,520 0.3% 11,567 1.204 10 10 Each Furnishings, Pro Shop, Display Fixtures 2035 to 15 11 750.00 7,500 7,500 0.2% 10,719 1.205 78 39 Each Furnishings, Restaurant, Chairs and Booths, Phased 2027 to 15 3 to 10 325.00 12,675 25,350 0.5% 13,972 17,537 1.206 22 22 Each Furnishings, Restaurant, Tables 2034 to 15 10 550.00 12,100 12,100 0.3% 16,741 1.207 7 7 Each Light Fixtures, Pendants and Chandeliers, Restaurant 2045 20 to 25 21 650.00 4,550 4,550 0.1% 1.208 1 1 Each Rest Room, Cart Barn 2029 20 to 25 5 4,500.00 4,500 4,500 0.1% 5,293 1.209 2 2 Each Rest Rooms, Main (Excl. Floor Coatings) 2040 to 20 16 24,000.00 48,000 48,000 0.5% 1.210 1 1 Allowance Sales Counter and Cabinetry, Pro Shop 2050 to 30 26 45,000.00 45,000 45,000 0.7% 1.211 5 5 Each Window Treatments, Restaurant 2030 8 to 10 6 950.00 4,750 4,750 0.2% 5,772 Clubhouse Kitchen Equipment 1.300 1 1 Each Beverage Dispenser, Soda/Juice, 10 Valves 2026 4 to 6 2 6,200.00 6,200 6,200 0.4% 6,616 7,782 9,154 1.301 1 1 Each Dishwasher, Semi-Automatic, Ecolab 2040 to 20 16 7,500.00 7,500 7,500 0.1% 1.302 1 1 Each Exhaust Hood with Integrated Fire Suppression 2034 to 20 10 30,000.00 30,000 30,000 0.8% 41,507 1.303 1 1 Each Freezer, Freestanding with 2 Doors, True 2032 to 15 8 6,700.00 6,700 6,700 0.1% 8,687 1.304 1 1 Each Freezer, Undercounter with 2 Drawers, Dukers 2032 to 15 8 2,600.00 2,600 2,600 0.1% 3,371 1.305 1 1 Each Fryer, Double, Avantco 2030 to 12 6 9,200.00 9,200 9,200 0.3% 11,179 1.306 1 1 Each Fryer, Double, Royal 2030 to 12 6 9,200.00 9,200 9,200 0.3% 11,179 1.307 1 1 Each Ice Machine, Freestanding, Manitowoc 2032 to 15 8 4,500.00 4,500 4,500 0.1% 5,835 1.308 1 1 Each Ice Machine, Undercounter 2031 to 15 7 3,200.00 3,200 3,200 0.1% 4,017 1.309 1 1 Each Kegerator, 4 Taps, Avantco, Patio Bar 2030 10 to 15 6 3,100.00 3,100 3,100 0.1% 3,767 1.310 1 1 Each Kegerator, 8 Taps, Avantco, Restaurant Bar 2035 to 15 11 3,800.00 3,800 3,800 0.1% 5,431 1.311 1 1 Each Range, 6 Burners with Griddle and 2 Underlying Ovens, Propane, Vulcan 60SS 2040 to 20 16 9,000.00 9,000 9,000 0.1% 1.312 2 2 Each Refrigerated Prep Tables, Avantco 2035 to 15 11 2,800.00 5,600 5,600 0.1% 8,004 1.313 1 1 Each Refrigerator, Freestanding with 2 Doors, Procool 2034 to 15 10 1,800.00 1,800 1,800 0.0% 2,490 1.314 1 1 Each Refrigerator, Undercounter with 2 Doors, Avantco (Large) 2030 10 to 15 6 4,500.00 4,500 4,500 0.2% 5,468 1.315 1 1 Each Refrigerator, Undercounter with 2 Doors, Avantco (Small) 2029 10 to 15 5 2,800.00 2,800 2,800 0.1% 3,294 4,557 1.316 1 1 Each Refrigerator, Undercounter with 2 Drawers, Avantco 2030 10 to 15 6 2,900.00 2,900 2,900 0.1% 3,524 1.317 1 1 Each Refrigerator, Undercounter with 3 Doors, Avantco 2031 10 to 15 7 3,800.00 3,800 3,800 0.1% 4,770 1.318 1 1 Each Refrigerator, Undercounter with Top Access, Avantco 2030 10 to 15 6 2,800.00 2,800 2,800 0.1% 3,402 Rockledge, FloridaGolf Course Expenditures -Section 3 -1 of 8 Golf CourseYears 2040 to 2054 RESERVE EXPENDITURES Viera EastCommunity Development DistrictRockledge, Florida EstimatedLife Analysis,Costs, $PercentageLineTotalPer Phase1st Year ofYearsUnitPer PhaseTotalof FutureItemQuantityQuantityUnitsReserve Component InventoryEventUsefulRemaining(2024)(2024)(2024)Expenditures----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Clubhouse Exterior Building Elements1.10077EachDoors, Metal, Rest Rooms and Utility2029to 3551,800.0012,60012,6000.1% 1.1017,4507,450Square FeetPatio, Gemstone Coating, Interim Sealant Application (Incl. Restaurant and Rest Room Floors) 2026 4 to 627 Each Doors, Metal, Rest Rooms and Utility 2029 to 35 5 1,800.00 12,600 12,600 0.1% 4.0029,8007,450 Square Feet Patio, Gemstone Coating, Interim Sealant Application (Incl. Restaurant and Rest Room Floors) 2026 4 to 6 2 4.00 29,800 29,800 1.5% 57,046 69,315 29,8001.102 7,450 7,450 Square Feet Patio, Gemstone Coating (Incl. Restaurant and Rest Room Floors) 2044 20 to 25 20 22.00 163,900 163,900 2.0% 1.103 310 310 Linear Feet Railings, Aluminium, Patio 2034 to 35 10 140.00 43,400 43,400 0.4% 1.104 205 205 Squares Roof Assemblies, Asphalt Shingles (Incl. Starter's Station) 2040 12 to 18 16 480.00 98,400 98,400 1.0% 1.105 9,600 9,600 Square Feet Walls, Stucco, Paint Finishes and Capital Repairs (Incl. Starter's Station) 2027 5 to 7 3 2.00 19,200 19,200 0.8% 1.106 1,150 1,150 Square Feet Windows and Doors, Pro Shop and Restaurant 2034 to 40 10 110.00 126,500 126,500 1.1% Clubhouse Interior Building Elements 1.200 1 1 Allowance Bar and Countertop, Restaurant (Incl. Patio Bar and Starter's Station) 2038 15 to 20 14 12,500.00 12,500 12,500 0.1% 1.201 2,000 2,000 Square Feet Ceilings, Acoustical Tiles and Grid (Incl. Light Fixtures) 2028 to 30 4 8.50 17,000 17,000 0.1% 1.202 780 780 Square Feet Floor and Wall Coverings, Ceramic Tile, Kitchen 2032 to 30 8 12.00 9,360 9,360 0.1% 1.203 170 170 Square Yards Floor Coverings, Carpet, Pro Shop and Offices 2030 8 to 10 6 56.00 9,520 9,520 0.3% 1.204 10 10 Each Furnishings, Pro Shop, Display Fixtures 2035 to 15 11 750.00 7,500 7,500 0.2% 1.205 78 39 Each Furnishings, Restaurant, Chairs and Booths, Phased 2027 to 15 3 to 10 325.00 12,675 25,350 0.5% 1.206 22 22 Each Furnishings, Restaurant, Tables 2034 to 15 10 550.00 12,100 12,100 0.3% 1.207 7 7 Each Light Fixtures, Pendants and Chandeliers, Restaurant 2045 20 to 25 21 650.00 4,550 4,550 0.1% 1.208 1 1 Each Rest Room, Cart Barn 2029 20 to 25 5 4,500.00 4,500 4,500 0.1% 1.209 2 2 Each Rest Rooms, Main (Excl. Floor Coatings) 2040 to 20 16 24,000.00 48,000 48,000 0.5% 1.210 1 1 Allowance Sales Counter and Cabinetry, Pro Shop 2050 to 30 26 45,000.00 45,000 45,000 0.7% 1.211 5 5 Each Window Treatments, Restaurant 2030 8 to 10 6 950.00 4,750 4,750 0.2% Clubhouse Kitchen Equipment 1.300 1 1 Each Beverage Dispenser, Soda/Juice, 10 Valves 2026 4 to 6 2 6,200.00 6,200 6,200 0.4% 1.301 1 1 Each Dishwasher, Semi-Automatic, Ecolab 2040 to 20 16 7,500.00 7,500 7,500 0.1% 1.302 1 1 Each Exhaust Hood with Integrated Fire Suppression 2034 to 20 10 30,000.00 30,000 30,000 0.8% 1.303 1 1 Each Freezer, Freestanding with 2 Doors, True 2032 to 15 8 6,700.00 6,700 6,700 0.1% 1.304 1 1 Each Freezer, Undercounter with 2 Drawers, Dukers 2032 to 15 8 2,600.00 2,600 2,600 0.1% 1.305 1 1 Each Fryer, Double, Avantco 2030 to 12 6 9,200.00 9,200 9,200 0.3% 1.306 1 1 Each Fryer, Double, Royal 2030 to 12 6 9,200.00 9,200 9,200 0.3% 1.307 1 1 Each Ice Machine, Freestanding, Manitowoc 2032 to 15 8 4,500.00 4,500 4,500 0.1% 1.308 1 1 Each Ice Machine, Undercounter 2031 to 15 7 3,200.00 3,200 3,200 0.1% 1.309 1 1 Each Kegerator, 4 Taps, Avantco, Patio Bar 2030 10 to 15 6 3,100.00 3,100 3,100 0.1% 1.310 1 1 Each Kegerator, 8 Taps, Avantco, Restaurant Bar 2035 to 15 11 3,800.00 3,800 3,800 0.1% 1.311 1 1 Each Range, 6 Burners with Griddle and 2 Underlying Ovens, Propane, Vulcan 60SS 2040 to 20 16 9,000.00 9,000 9,000 0.1% 1.312 2 2 Each Refrigerated Prep Tables, Avantco 2035 to 15 11 2,800.00 5,600 5,600 0.1% 1.313 1 1 Each Refrigerator, Freestanding with 2 Doors, Procool 2034 to 15 10 1,800.00 1,800 1,800 0.0% 1.314 1 1 Each Refrigerator, Undercounter with 2 Doors, Avantco (Large) 2030 10 to 15 6 4,500.00 4,500 4,500 0.2% 1.315 1 1 Each Refrigerator, Undercounter with 2 Doors, Avantco (Small) 2029 10 to 15 5 2,800.00 2,800 2,800 0.1% 1.316 1 1 Each Refrigerator, Undercounter with 2 Drawers, Avantco 2030 10 to 15 6 2,900.00 2,900 2,900 0.1% 1.317 1 1 Each Refrigerator, Undercounter with 3 Doors, Avantco 2031 10 to 15 7 3,800.00 3,800 3,800 0.1% 1.318 1 1 Each Refrigerator, Undercounter with Top Access, Avantco 2030 10 to 15 6 2,800.00 2,800 2,800 0.1% 313,751 165,425 33,343 41,851 16,005 22,143 17,445 22,012 27,628 26,375 8,997 11,919 80,695 104,670 7,985 11,048 10,767 12,665 14,897 12,609 79,457 14,138 5,486 16,504 24,367 16,504 24,367 9,496 6,537 5,212 7,211 8,839 15,130 13,026 4,053 8,073 11,919 6,305 5,202 7,681 7,514 5,023 7,416 1.5% Golf Course Expenditures -Section 3 -2 of 8 Golf Course Years 2024 to 2039Years 2024 to 2039 RESERVE EXPENDITURESExplanatory Notes: 1)3.3% is the estimated Inflation Rate for estimating Future Replacement Costs. Viera East 2) FY2024 is Fiscal Year beginning October 1, 2024 and ending September 30, 2025. Community Development District 3.3% is the estimated Inflation Rate for estimating Future Replacement Costs. Life Analysis, Costs, $ Percentage Line Total Per Phase 1st Year of Years Unit Per Phase Total of Future RUL = 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Item Quantity Quantity Units Reserve Component Inventory Event Useful Remaining (2024) (2024) (2024) Expenditures FY2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 Viera East2) 2 Each Walk In Coolers, Capital Repairs 2040 to 15 16 8,000.00 16,000 16,000 0.2% FY2024is Fiscal Year beginning October 1, 2024 and ending September 30, 2025.1 Each Walk In Cooler, Existing, Replacement (2025 is Planned) 2025 to 45 1 60,000.00 60,000 60,000 0.4% 61,980 Community Development District1.321 1 1 Each Walk In Cooler, Proposed Installation (2025 is Planned) 2025 to 45 1 55,000.00 55,000 55,000 0.4% 56,815 Clubhouse Building Services Elements 1.400 1 1 Each Air Handling Unit, Pro Shop and Offices 2051 to 30 27 12,300.00 12,300 12,300 0.2% 1.401 1 1 Each Air Handling Unit, Restaurant 2053 to 30 29 20,800.00 20,800 20,800 0.3% 1.402 1 1 Allowance Computer Equipment, Point of Sale 2030 to 10 6 4,500.00 4,500 4,500 0.1% 5,468 1.403 1 1 Allowance Computer Equipment, Workstations, Pro Shop 2030 to 10 6 7,200.00 7,200 7,200 0.2% 8,749 1.404 1 1 Each Condensing Unit, Pro Shop and Office 2036 15 to 20 12 10,700.00 10,700 10,700 0.3% 15,797 1.405 1 1 Each Condensing Unit, Restaurant 2038 15 to 20 14 18,000.00 18,000 18,000 0.5% 28,358 1.406 1 1 Each Defibrillator 2032 10 to 15 8 3,800.00 3,800 3,800 0.1% 4,927 1.407 1 1 Each Ice Machine, Cart Barn, Manitowoc 2029 to 15 5 4,500.00 4,500 4,500 0.1% 5,293 1.408 1 1 Allowance Life Safety System 2035 to 15 11 14,000.00 14,000 14,000 0.3% 20,009 1.409 1 1 Allowance Security System 2035 10 to 15 11 20,000.00 20,000 20,000 0.5% 28,585 1.410 1 1 Each Water Heater, 75-MBH, Tankless 2029 to 10 5 4,200.00 4,200 4,200 0.1% 4,940 6,835 Property Site Elements 1.500 46 46 Each Funishings, Outdoor Patio, Chairs and Barstools 2032 10 to 15 8 375.00 17,250 17,250 0.3% 22,366 1.501 9 9 Each Funishings, Outdoor Patio, Tables 2032 10 to 15 8 600.00 5,400 5,400 0.1% 7,002 Golf Course Elements 1.600 1 1 Each Ball Machine, Driving Range, Range Servant Ultima 8 2040 to 20 16 9,700.00 9,700 9,700 0.1% 1.601 1 1 Each Ball Washer, Easy Picker 2035 10 to 15 11 4,500.00 4,500 4,500 0.1% 6,432 1.602 1,050 1,050 Linear Feet Bulkheads, Timber, Capital Repairs 2034 15 to 20 10 60.00 63,000 63,000 0.5% 87,165 1.603 1,050 1,050 Linear Feet Bulkheads, Timber, Replacement 2049 to 30 25 375.00 393,750 393,750 5.6% 1.604 72,000 72,000 Square Feet Bunkers, Greenside, Rebuild, Near-Term (2025 is Planned) 2025 N/A 1 3.65 262,800 262,800 1.7% 271,472 1.605 36,000 36,000 Square Feet Bunkers, Greenside, Rebuild, Subsequent 2045 to 20 21 3.65 131,400 131,400 1.6% 1.606 80,000 20,000 Square Feet Bunkers, Fairway, Rebuild, Phased 2030 to 20 6 to 21 3.65 73,000 292,000 4.0% 88,700 104,334 1.607 114,000 5,700 Square Feet Concrete Cart Paths, Partial 2026 to 65 2 to 30+ 12.00 68,400 1,368,000 4.3% 72,989 85,854 100,986 1.608 87,600 87,600 Square Feet Greens, Rebuild (Incl. Practice Green) 2032 to 30 8 7.50 657,000 657,000 5.4% 851,859 1.609 6 6 Each Irrigation System, Controllers 2037 to 15 13 10,000.00 60,000 60,000 1.5% 91,507 1.610 1 1 Allowance Irrigation System, Pipes, Heads and Valves, Interim Repairs and Leak Remediation 2037 to 15 13 125,000.00 125,000 125,000 1.2% 190,640 1.611 1,960 1,960 Heads Irrigation System, Pipes, Heads and Valves, Replacement 2052 to 30 28 1,150.00 2,254,000 2,254,000 35.2% 1.612 1 1 Allowance Irrigation System, Pump Station, Rebuild (Incl. Central Computer) 2033 to 15 9 102,000.00 102,000 102,000 2.3% 136,616 1.613 1 1 Each Range Cart, Toro Workman HDC (Incl. ProSweep) 2026 to 15 2 34,600.00 34,600 34,600 0.6% 36,921 1.614 4 4 Each Rest Room Buildings, Doors 2026 to 30 2 2,000.00 8,000 8,000 0.1% 8,537 1.615 1,600 1,600 Square Feet Rest Room Buildings, Paint Finishes, Exterior 2026 4 to 6 2 5.50 8,800 8,800 0.5% 9,390 11,410 13,864 1.616 4 4 Each Rest Room Buildings, Rest Rooms, Renovations 2026 to 25 2 4,500.00 18,000 18,000 0.4% 19,208 1.617 8 8 Squares Rest Room Buildings, Roofs, Asphalt Shingles 2026 12 to 18 2 680.00 5,440 5,440 0.1% 5,805 1.618 140,000 140,000 Square Feet Tees, Rebuild (Incl. Driving Range) 2030 to 30 6 3.25 455,000 455,000 3.5% 552,858 1.619 18 18 Each Yardage and Hole Markers, Stone 2029 25 to 35 5 1,800.00 32,400 32,400 0.2% 38,111 Rockledge, FloridaGolf Course Expenditures -Section 3 -3 of 8 Golf Course RESERVE EXPENDITURESYears 2040 to 2054 Viera East Community Development Districtt t Life Analysis, Costs, $Life Analysis, Costs, $ Percentage Line Total Per Phase 1st Year of Years Unit Per Phase Total of Future 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Item Quantity Quantity Units Reserve Component Inventory Event Useful Remaining (2024) (2024) (2024) Expenditures 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 PercentageLine2 Each Walk In Coolers, Capital Repairs 2040 to 15 16 8,000.00 16,000 16,000 0.2% 26,898 TotalPer Phase1 Each Walk In Cooler, Existing, Replacement (2025 is Planned) 2025 to 45 1 60,000.00 60,000 60,000 0.4% 1st Year of1.321 1 1 Each Walk In Cooler, Proposed Installation (2025 is Planned) 2025 to 45 1 55,000.00 55,000 55,000 0.4% Clubhouse Building Services Elements 1.400 1 1 Each Air Handling Unit, Pro Shop and Offices 2051 to 30 27 12,300.00 12,300 12,300 0.2% 1.401 1 1 Each Air Handling Unit, Restaurant 2053 to 30 29 20,800.00 20,800 20,800 0.3% 1.402 1 1 Allowance Computer Equipment, Point of Sale 2030 to 10 6 4,500.00 4,500 4,500 0.1% 1.403 1 1 Allowance Computer Equipment, Workstations, Pro Shop 2030 to 10 6 7,200.00 7,200 7,200 0.2% 1.404 1 1 Each Condensing Unit, Pro Shop and Office 2036 15 to 20 12 10,700.00 10,700 10,700 0.3% 1.405 1 1 Each Condensing Unit, Restaurant 2038 15 to 20 14 18,000.00 18,000 18,000 0.5% 1.406 1 1 Each Defibrillator 2032 10 to 15 8 3,800.00 3,800 3,800 0.1% 1.407 1 1 Each Ice Machine, Cart Barn, Manitowoc 2029 to 15 5 4,500.00 4,500 4,500 0.1% 1.408 1 1 Allowance Life Safety System 2035 to 15 11 14,000.00 14,000 14,000 0.3% 1.409 1 1 Allowance Security System 2035 10 to 15 11 20,000.00 20,000 20,000 0.5% 1.410 1 1 Each Water Heater, 75-MBH, Tankless 2029 to 10 5 4,200.00 4,200 4,200 0.1% Property Site Elements 1.500 46 46 Each Funishings, Outdoor Patio, Chairs and Barstools 2032 10 to 15 8 375.00 17,250 17,250 0.3% 1.501 9 9 Each Funishings, Outdoor Patio, Tables 2032 10 to 15 8 600.00 5,400 5,400 0.1% Golf Course Elements 1.600 1 1 Each Ball Machine, Driving Range, Range Servant Ultima 8 2040 to 20 16 9,700.00 9,700 9,700 0.1% 1.601 1 1 Each Ball Washer, Easy Picker 2035 10 to 15 11 4,500.00 4,500 4,500 0.1% 1.602 1,050 1,050 Linear Feet Bulkheads, Timber, Capital Repairs 2034 15 to 20 10 60.00 63,000 63,000 0.5% 1.603 1,050 1,050 Linear Feet Bulkheads, Timber, Replacement 2049 to 30 25 375.00 393,750 393,750 5.6% 1.604 72,000 72,000 Square Feet Bunkers, Greenside, Rebuild, Near-Term (2025 is Planned) 2025 N/A 1 3.65 262,800 262,800 1.7% 1.605 36,000 36,000 Square Feet Bunkers, Greenside, Rebuild, Subsequent 2045 to 20 21 3.65 131,400 131,400 1.6% 1.606 80,000 20,000 Square Feet Bunkers, Fairway, Rebuild, Phased 2030 to 20 6 to 21 3.65 73,000 292,000 4.0% 1.607 114,000 5,700 Square Feet Concrete Cart Paths, Partial 2026 to 65 2 to 30+ 12.00 68,400 1,368,000 4.3% 1.608 87,600 87,600 Square Feet Greens, Rebuild (Incl. Practice Green) 2032 to 30 8 7.50 657,000 657,000 5.4% 1.609 6 6 Each Irrigation System, Controllers 2037 to 15 13 10,000.00 60,000 60,000 1.5% 1.610 1 1 Allowance Irrigation System, Pipes, Heads and Valves, Interim Repairs and Leak Remediation 2037 to 15 13 125,000.00 125,000 125,000 1.2% 1.611 1,960 1,960 Heads Irrigation System, Pipes, Heads and Valves, Replacement 2052 to 30 28 1,150.00 2,254,000 2,254,000 35.2% 1.612 1 1 Allowance Irrigation System, Pump Station, Rebuild (Incl. Central Computer) 2033 to 15 9 102,000.00 102,000 102,000 2.3% 1.613 1 1 Each Range Cart, Toro Workman HDC (Incl. ProSweep) 2026 to 15 2 34,600.00 34,600 34,600 0.6% 1.614 4 4 Each Rest Room Buildings, Doors 2026 to 30 2 2,000.00 8,000 8,000 0.1% 1.615 1,600 1,600 Square Feet Rest Room Buildings, Paint Finishes, Exterior 2026 4 to 6 2 5.50 8,800 8,800 0.5% 1.616 4 4 Each Rest Room Buildings, Rest Rooms, Renovations 2026 to 25 2 4,500.00 18,000 18,000 0.4% 1.617 8 8 Squares Rest Room Buildings, Roofs, Asphalt Shingles 2026 12 to 18 2 680.00 5,440 5,440 0.1% 1.618 140,000 140,000 Square Feet Tees, Rebuild (Incl. Driving Range) 2030 to 30 6 3.25 455,000 455,000 3.5% 1.619 18 18 Each Yardage and Hole Markers, Stone 2029 25 to 35 5 1,800.00 32,400 32,400 0.2% 29,554 53,330 7,565 10,467 12,104 16,747 25,709 46,151 7,274 8,614 32,564 46,520 9,457 33,021 10,337 16,307 10,467 886,602 259,838 122,724 144,354 169,797 118,785 139,721 164,348 148,922 5,594,521 222,335 60,087 16,846 20,469 43,250 10,414 YearsGolf Course Expenditures -Section 3 -4 of 8 Golf Course Years 2024 to 2039RESERVE EXPENDITURESExplanatory Notes: 1)3.3%is the estimated Inflation Rate for estimating Future Replacement Costs.is the estimated Inflation Rate for estimating Future Replacement Costs. Viera East2)FY2024is Fiscal Year beginning October 1, 2024 and ending September 30, 2025. is Fiscal Year beginning October 1, 2024 and ending September 30, 2025. Community Development DistrictRockledge, Florida EstimatedLife Analysis,Costs, $PercentageLineTotalPer Phase1st Year ofYearsUnitPer PhaseTotalof FutureRUL = 0123456789101112131415ItemQuantityQuantityUnitsReserve Component InventoryEventUsefulRemaining(2024)(2024)(2024)ExpendituresFY20242025202620272028202920302031203220332034203520362037 2038 2039---------------------------- 4,600 Each Asphalt Pavement, Patch and Seal Coat 2026 3 to 5 2 2.00 6,164 6,164 0.2% 6,578 8,810 -------------------------------- 4,600 Square Yards Asphalt Pavement, Mill and Overlay 2030 15 to 20 6 19.00 58,558 58,558 1.3% 71,152 ----------------------------------------------------------------------------------------------------------------------------------------------------- 450 Square Feet Carport, Irrigation Pump Station 2035 to 25 11 28.00 12,600 12,600 0.1% 18,008 --------------------------- 600 Square Feet Carport, Vehicle and Equipment Storage 2043 to 25 19 28.00 11,256 11,256 0.1% -------------------------------- 475 Square Feet Concrete Flatwork, Partial (Incl. Wash Station) 2026 to 65+ 2 to 30+ 13.00 4,137 61,841 0.3% 4,415 5,193 6,108 -------------------------------------- 1,050 Square Feet Fences, Chain Link (Incl. Gates) 2030 to 25 6 32.00 22,512 22,512 0.2% 27,354 -------------------------------- 1 Each Fertilizer Building, Door, Overhead 2030 to 25 6 3,200.00 3,200 3,200 0.0% 3,888 -------------------------------- 1 Each Fertilizer Building, Door, Utility 2039 to 30 15 2,000.00 2,000 2,000 0.0% 3,255 -------------------------------- 1 Each Fertilizer Building, Exhaust Fan 2030 to 20 6 6,500.00 6,500 6,500 0.1% 7,898 -------------------------------- 2,370 Square Feet Fertilizer Building, Metal Frame, Roof and Siding, Paint Finishes and Repairs 2030 8 to 10 6 2.00 4,740 4,740 0.1% 5,759 -------------------------------- 1,850 Square Feet Fertilizer Building, Roof and Siding, Metal 2039 to 45 15 14.00 25,900 25,900 0.3% 42,151 -------------------------------- 10 Each Light Poles and Fixtures 2030 to 25 6 1,600.00 10,720 10,720 0.1% 13,026 -------------------------------- 3 Each Material Storage Bins 2035 to 40 11 4,500.00 13,500 13,500 0.1% 19,295 -------------------------------- 2 Each Tanks, Fuel Storage, 1,000-Gallon 2030 to 20 6 6,200.00 8,308 8,308 0.2% 10,095 Maintenance Facility Elements3.1001 Each Tanks, Oil Separation 2030 to 20 6 5,800.00 3,886 3,886 0.1% 4,722 4,600 4,600Each1 Each Air Handling and Condensing Units, Split System 2036 10 to 15 12 7,500.00 5,025 5,025 0.1% 7,419 Asphalt Pavement, Patch and Seal Coat20268 Each Doors, Overhead 2029 to 25 5 3,200.00 17,152 17,152 0.4% 20,175 3 to 521 Each Ice Machine, Manitowoc 2029 to 15 5 4,500.00 3,015 3,015 0.1% 3,546 2.006,1641,400 Square Feet Interior Renovation, Complete 2028 to 30 4 60.00 56,280 56,280 0.4% 64,085 6,1640.2% 1,400 Square Feet Interior Renovation, Partial, Subsequent 2038 8 to 12 14 8.00 7,504 7,504 0.2% 11,822 6,5788,81023,900 Square Feet Metal Frame, Roof and Siding, Paint Finishes and Repairs 2028 8 to 10 4 2.00 32,026 32,026 0.7% 36,467 3.1014,60018,600 Square Feet Roof and Siding, Metal 2039 to 45 15 14.00 174,468 174,468 1.8% 283,936 4,600Square Yards225 Square Feet Windows and Doors 2039 to 40 15 110.00 16,583 16,583 0.2% 26,987 Asphalt Pavement, Mill and Overlay 203015 to 202 Each Carts and Utility Vehicles, Toro Workman HDX 2026 to 15 2 28,800.00 57,600 57,600 1.0% 61,464 619.001 Each Loaders, Wheeled, Caterpillar (Shared) 2034 to 25 10 80,800.00 54,136 54,136 0.5% 74,901 58,55858,5581 Each Implements, Aerators, Multi Silt MS-4 2027 to 15 3 4,200.00 4,200 4,200 0.1% 4,630 1.3%71,1521 Each Implements, Aerators, Toro Turf Aerator 686 2027 to 15 3 3,800.00 3,800 3,800 0.1% 4,189 3.1024501 Each Implements, Aerators, Toro ProCore 648 2032 to 20 8 22,700.00 22,700 22,700 0.5% 29,433 450Square Feet1 Each Implements, Chippers, Vermeer 2031 25 to 30 7 4,500.00 4,500 4,500 0.0% 5,648 Carport, Irrigation Pump Station 20351 Allowance Implements, Miscellaneous 2029 to 10 5 25,000.00 25,000 25,000 0.8% 29,406 40,686 to 25111 Each Implements, Mowers and Rollers, Greens Roller (Incl. Trailer) 2032 8 to 12 8 14,000.00 14,000 14,000 0.3% 18,152 28.0012,6001 Each Implements, Mowers and Rollers, Toro Thatching Reel (Incl. Trailer) 2028 8 to 12 4 3,800.00 6,500 3,800 0.2% 4,327 5,610 12,6000.1% 1 Each Mowers, Self-Propelled, Billy Goat 2028 8 to 10 4 4,100.00 4,100 4,100 0.1% 4,669 6,459 18,0083.1031 Each Mowers, Self-Propelled, Kubota Zero Turn (Shared, Incl. Miscellaneous Attachments) 2031 8 to 10 7 19,800.00 13,266 13,266 0.5% 16,651 6006001 Allowance Parts and Components, Miscellaneous, Phased 2028 to 20 4 to 14 25,000.00 25,000 50,000 0.8% 28,467 39,386 Square FeetCarport, Vehicle and Equipment Storage1 Each Tractors, Kubota M6060D 2040 20 to 25 16 17,300.00 17,300 17,300 0.2% 2043to 251 Each Tractors, Kubota M660HD 2046 20 to 25 22 36,000.00 36,000 36,000 0.5% 1928.001 Each Vehicle and Implement Maintenance Equipment, Reel Grinder, Bernhard Express Dual 4100 2029 to 20 5 52,000.00 52,000 52,000 1.1% 61,165 11,256Golf Course Expenditures -Section 3 -5 of 8 Golf Course RESERVE EXPENDITURESYears 2040 to 2054 Viera East Community Development Districtt t Life Analysis, Costs, $Life Analysis, Costs, $ Percentage Line Total Per Phase 1st Year of Years Unit Per Phase Total of Future 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Item Quantity Quantity Units Reserve Component Inventory Event Useful Remaining (2024) (2024) (2024) Expenditures 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 Percentage Line3.100 4,600 4,600 Each Asphalt Pavement, Patch and Seal Coat 2026 3 to 5 2 2.00 6,164 6,164 0.2% 3.101 4,600 4,600 Square Yards Asphalt Pavement, Mill and Overlay 2030 15 to 20 6 19.00 58,558 58,558 1.3% 3.102 450 450 Square Feet Carport, Irrigation Pump Station 2035 to 25 11 28.00 12,600 12,600 0.1% 3.103 600 600 Square Feet Carport, Vehicle and Equipment Storage 2043 to 25 19 28.00 11,256 11,256 0.1% 3.104 7,100 475 Square Feet Concrete Flatwork, Partial (Incl. Wash Station) 2026 to 65+ 2 to 30+ 13.00 4,137 61,841 0.3% 3.105 1,050 1,050 Square Feet Fences, Chain Link (Incl. Gates) 2030 to 25 6 32.00 22,512 22,512 0.2% 3.106 1 1 Each Fertilizer Building, Door, Overhead 2030 to 25 6 3,200.00 3,200 3,200 0.0% 3.107 1 1 Each Fertilizer Building, Door, Utility 2039 to 30 15 2,000.00 2,000 2,000 0.0% 3.108 1 1 Each Fertilizer Building, Exhaust Fan 2030 to 20 6 6,500.00 6,500 6,500 0.1% 3.109 2,370 2,370 Square Feet Fertilizer Building, Metal Frame, Roof and Siding, Paint Finishes and Repairs 2030 8 to 10 6 2.00 4,740 4,740 0.1% 3.110 1,850 1,850 Square Feet Fertilizer Building, Roof and Siding, Metal 2039 to 45 15 14.00 25,900 25,900 0.3% 3.111 10 10 Each Light Poles and Fixtures 2030 to 25 6 1,600.00 10,720 10,720 0.1% 3.112 3 3 Each Material Storage Bins 2035 to 40 11 4,500.00 13,500 13,500 0.1% 3.114 2 2 Each Tanks, Fuel Storage, 1,000-Gallon 2030 to 20 6 6,200.00 8,308 8,308 0.2% 3.115 1 1 Each Tanks, Oil Separation 2030 to 20 6 5,800.00 3,886 3,886 0.1% Maintenance Building Elements 3.200 1 1 Each Air Handling and Condensing Units, Split System 2036 10 to 15 12 7,500.00 5,025 5,025 0.1% 3.201 8 8 Each Doors, Overhead 2029 to 25 5 3,200.00 17,152 17,152 0.4% 3.202 1 1 Each Ice Machine, Manitowoc 2029 to 15 5 4,500.00 3,015 3,015 0.1% 3.203 1,400 1,400 Square Feet Interior Renovation, Complete 2028 to 30 4 60.00 56,280 56,280 0.4% 3.204 1,400 1,400 Square Feet Interior Renovation, Partial, Subsequent 2038 8 to 12 14 8.00 7,504 7,504 0.2% 3.205 23,900 23,900 Square Feet Metal Frame, Roof and Siding, Paint Finishes and Repairs 2028 8 to 10 4 2.00 32,026 32,026 0.7% 3.206 18,600 18,600 Square Feet Roof and Siding, Metal 2039 to 45 15 14.00 174,468 174,468 1.8% 3.207 225 225 Square Feet Windows and Doors 2039 to 40 15 110.00 16,583 16,583 0.2% Maintenance Equipment (Golf Course and Shared) 4.112 2 2 Each Carts and Utility Vehicles, Toro Workman HDX 2026 to 15 2 28,800.00 57,600 57,600 1.0% 4.118 1 1 Each Loaders, Wheeled, Caterpillar (Shared) 2034 to 25 10 80,800.00 54,136 54,136 0.5% 4.119 1 1 Each Implements, Aerators, Multi Silt MS-4 2027 to 15 3 4,200.00 4,200 4,200 0.1% 4.120 1 1 Each Implements, Aerators, Toro Turf Aerator 686 2027 to 15 3 3,800.00 3,800 3,800 0.1% 4.121 1 1 Each Implements, Aerators, Toro ProCore 648 2032 to 20 8 22,700.00 22,700 22,700 0.5% 4.122 1 1 Each Implements, Chippers, Vermeer 2031 25 to 30 7 4,500.00 4,500 4,500 0.0% 4.123 1 1 Allowance Implements, Miscellaneous 2029 to 10 5 25,000.00 25,000 25,000 0.8% 4.124 1 1 Each Implements, Mowers and Rollers, Greens Roller (Incl. Trailer) 2032 8 to 12 8 14,000.00 14,000 14,000 0.3% 4.125 1 1 Each Implements, Mowers and Rollers, Toro Thatching Reel (Incl. Trailer) 2028 8 to 12 4 3,800.00 6,500 3,800 0.2% 4.127 1 1 Each Mowers, Self-Propelled, Billy Goat 2028 8 to 10 4 4,100.00 4,100 4,100 0.1% 4.132 1 1 Each Mowers, Self-Propelled, Kubota Zero Turn (Shared, Incl. Miscellaneous Attachments) 2031 8 to 10 7 19,800.00 13,266 13,266 0.5% 4.138 2 1 Allowance Parts and Components, Miscellaneous, Phased 2028 to 20 4 to 14 25,000.00 25,000 50,000 0.8% 4.142 1 1 Each Tractors, Kubota M6060D 2040 20 to 25 16 17,300.00 17,300 17,300 0.2% 4.144 1 1 Each Tractors, Kubota M660HD 2046 20 to 25 22 36,000.00 36,000 36,000 0.5% 4.146 1 1 Each Vehicle and Implement Maintenance Equipment, Reel Grinder, Bernhard Express Dual 4100 2029 to 20 5 52,000.00 52,000 52,000 1.1% 10,363 12,189 136,205 20,859 7,185 8,451 9,941 15,119 11,025 19,324 9,039 12,074 45,428 5,772 16,357 69,809 100,029 7,535 6,817 56,342 56,292 26,800 7,274 9,432 8,937 23,038 31,875 54,494 29,084 73,538 117,088 TotalGolf Course Expenditures -Section 3 -6 of 8 Golf Course Years 2024 to 2039RESERVE EXPENDITURESExplanatory Notes: 1)3.3%is the estimated Inflation Rate for estimating Future Replacement Costs.is the estimated Inflation Rate for estimating Future Replacement Costs. Viera East2)FY2024is Fiscal Year beginning October 1, 2024 and ending September 30, 2025. is Fiscal Year beginning October 1, 2024 and ending September 30, 2025. Community Development DistrictRockledge, Florida EstimatedLife Analysis,Costs, $PercentageLineTotalPer Phase1st Year ofYearsUnitPer PhaseTotalof FutureRUL = 0123456789101112131415ItemQuantityQuantityUnitsReserve Component InventoryEventUsefulRemaining(2024)(2024)(2024)ExpendituresFY20242025202620272028202920302031203220332034203520362037 20387 ---------------------------- 1 Allowance Vehicle and Implement Maintenance Equipment, Remaining 2029 to 20 5 4,300.00 4,300 4,300 0.1% 5,058 ------------- Allowance -------------------------------------------------------------------------------------------------------------------------------------- 2026 to 2 2 8,200.00 6,150 6,150 0.0% 6,150 Anticipated Expenditures, By Year ($15,873,748 over 30 years) 8,308,760 0 390,267 269,872 43,954 157,372 191,103 855,525 129,914 1,013,816 136,616 501,977 229,627 145,074 282,147 166,531 408,407 ---------------5 ---------------- Golf Course RESERVE EXPENDITURESYears 2040 to 2054 Viera East Community Development DistrictRockledge, Florida EstimatedLife Analysis,Costs, $PercentageLineTotalPer Phase1st Year ofYearsUnitPer PhaseTotalof FutureItemQuantityQuantityUnitsReserve Component InventoryEventUsefulRemaining(2024)(2024)(2024)Expenditures----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 4.14711AllowanceVehicle and Implement Maintenance Equipment, Remaining2029to 2054,300.004,3004,3000.1% 1AllowanceReserve Study Update with Site Visit2026to 228,200.00 6,1504.147 1 1 Allowance Vehicle and Implement Maintenance Equipment, Remaining 2029 to 20 5 4,300.00 4,300 4,300 0.1% 1 Allowance Reserve Study Update with Site Visit 2026 to 2 2 8,200.00 6,150 6,150 0.0% ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 6,1509,682 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 0.0% -------------------------------------------------------------------------------------------------------------------------------------- ---------------------------- Golf Course Expenditures -Section 3 -8 of 8 RESERVE FUNDING PLAN all per OwnersGolf Course CASH FLOW ANALYSIS Viera East Community Development District Rockledge, Florida Reserves at Beginning of Year (Note 1) AnnualFY2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 N/A 982,675 904,294 1,055,383 1,446,706 1,741,246 2,017,289 1,634,329 1,983,683 1,453,969 1,806,538 1,806,962 2,092,158 Monthly2038 2,480,357 2,750,006 20263,154,331 2027Recommended Reserve Contributions N/A 84,000 192,000 198,300 204,800 211,600 218,600 225,800 233,300 241,000 249,000 257,200 265,700 274,500 283,600 293,000 Additional Reserve Contributions N/A 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 Total Recommended Reserve Contributions (Note 2) N/A 284,000 392,000 398,300 404,800 411,600 418,600 425,800 433,300 441,000 449,000 457,200 465,700 474,500 483,600 493,000 20282029203020312032Golf CourseRecommended$192,000$16,000.00$2.63$2.72$2.81$2.90$3.00$3.10$3.20CASH FLOW ANALYSISCurrent$84,000$7,000.00Viera EastIncrease$108,000$9,000.00$1.48$0.09$0.09$0.09$0.10$0.10$0.10Community Development DistrictIndividual Reserve Budgets & Cash Flows for the Next 30 Years% over OB0.5625% over previous3.18% 3.21% 3.19% Rockledge, Florida20252027202920312033203520372039( Note 1) --------------- 982,6751,055,3831,446,7061,741,2462,017,2891,634,3291,983,6831,453,9691,806,5381,806,9622,092,1582,480,3572,750,0063,154,331R commended Reserve Contributions N/A84,000192,000198,300204,800211,600218,600225,800233,300241,000249,000257,200265,700274,500283,600293,000Additional Reserve ContributionsN/A200,000200,000200,000200,000200,000200,000200,000200,000200,000200,000200,000200,000200,000200,000200,000Total Recommended Reserve Contributions(Note 2)N/A284,000392,000398,300404,800411,600418,600425,800433,300441,000449,000 457,200Recommended Reserve Contributions 302,700 312,700 323,000 333,700 344,700 356,100 367,900 380,000 392,500 405,500 418,900 432,700 447,000 461,800 477,000 Additional Reserve Contributions 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 Total Recommended Reserve Contributions 502,700 512,700 523,000 533,700 544,700 556,100 567,900 580,000 592,500 605,500 618,900 632,700 647,000 661,800 677,000 465,700474,500483,600493,000Estimated Interest Earned, During Year(Note 3)N/A27,88628,96136,97747,11355,54553,96553,46850,80348,18553,40157,62267,57477,29687,25695,899Anticipated Expenditures, By YearN/A(390,267)(269,872)(43,954)(157,372)(191,103)(855,525)(129,914)(1,013,816)(136,616)( 229,627)( 282,147)( 408,407) ---------------- ---------------- ---------------- ---------------- ---------------- ---------------- ------------------ ------------------- $ 982,675$ 1,055,383$ 1,741,246$ 1,634,329$1,983,683$1,453,969$1,806,538$1,806,962$2,092,158$2,480,357$2,750,006$3,154,331$3,334,823Predicted Reserves based on 2025 funding level of: $284,000982,675904,294945,7631,217,7831,382,8431,518,620984,081 1,170,001Year 2024 ending reserves are projected by Management and the Board as of September 30, 2024; FY2024 starts October 1, 2024 and ends September 30, 2025. $02026 is the first year of recommended contributions. $192,0003.0% is the estimated annual rate of return on invested reserves Begin Year: Accumulated year 2054 ending reserves consider the need to fund for rebuilding of the greens and tee areas shortly after 2054, and the age, size, overall condition and complexity of the property. Amount: Threshold Funding Year (reserve balance at critical point) . Amount: Golf Course Funding Plan - Section 3 Golf CourseFIVE-YEAR OUTLOOKfor the full list of reserve elements Explanatory Notes: 1) Community Development District Rockledge, Florida 3.3% Percentage RUL= 0 1 2 3 4 5 Item Reserve Component Inventory Ownership FY2024 2025 2026 2027 2028 2029 is the estimated Inflation Rate for estimating Future Viera East1.100 Doors, Metal, Rest Rooms and Utility 100% 14,821 1.101 Patio, Gemstone Coating, Interim Sealant Application (Incl. Restaurant and Rest Room Floors) 100% 31,799 1.105 Walls, Stucco, Paint Finishes and Capital Repairs (Incl. Starter's Station) 100% 21,164 Clubhouse Interior Building Elements 1.201 Ceilings, Acoustical Tiles and Grid (Incl. Light Fixtures) 100% 19,358 1.205 Furnishings, Restaurant, Chairs and Booths, Phased 100% 13,972 1.208 Rest Room, Cart Barn 100% 5,293 Clubhouse Kitchen Equipment 1.300 Beverage Dispenser, Soda/Juice, 10 Valves 100% 6,616 1.315 Refrigerator, Undercounter with 2 Doors, Avantco (Small) 100% 3,294 1.320 Walk In Cooler, Existing, Replacement (2025 is Planned) 100% 61,980 1.321 Walk In Cooler, Proposed Installation (2025 is Planned) 100% 56,815 Clubhouse Building Services Elements 1.407 Ice Machine, Cart Barn, Manitowoc 100% 5,293 1.410 Water Heater, 75-MBH, Tankless 100% 4,940 Golf Course Elements 1.604 Bunkers, Greenside, Rebuild, Near-Term (2025 is Planned) 100% 271,472 1.607 Concrete Cart Paths, Partial 100% 72,989 1.613 Range Cart, Toro Workman HDC (Incl. ProSweep) 100% 36,921 1.614 Rest Room Buildings, Doors 100% 8,537 1.615 Rest Room Buildings, Paint Finishes, Exterior 100% 9,390 1.616 Rest Room Buildings, Rest Rooms, Renovations 100% 19,208 1.617 Rest Room Buildings, Roofs, Asphalt Shingles 100% 5,805 1.619 Yardage and Hole Markers, Stone 100% 38,111 Maintenance Facility Elements 3.100 Asphalt Pavement, Patch and Seal Coat 67% 6,578 3.104 Concrete Flatwork, Partial (Incl. Wash Station) 67% 4,415 Maintenance Building Elements 3.201 Doors, Overhead 67% 20,175 3.202 Ice Machine, Manitowoc 67% 3,546 3.203 Interior Renovation, Complete 67% 64,085 3.205 Metal Frame, Roof and Siding, Paint Finishes and Repairs 67% 36,467 Maintenance Equipment (Golf Course and Shared) 4.112 Carts and Utility Vehicles, Toro Workman HDX 100% 61,464 4.119 Implements, Aerators, Multi Silt MS-4 100% 4,630 2) Golf Course Five-Year Outlook -1 of 2 Golf CourseFIVE-YEAR OUTLOOKExplanatory Notes: for the full list of reserve elements 1)3.3% Community Development District Rockledge, Florida is the estimated Inflation Rate for estimating Future Percentage RUL= 0 1 2 3 4 5 Item Reserve Component Inventory Ownership FY2024 2025 2026 2027 2028 2029 Viera East2)FY2024is Fiscal Year beginning October 1, 2024 and ending Community Development DistrictRockledge, FloridaLinePercentageRUL = 012345ItemReserve Component InventoryOwnershipFY202420252026202720282029--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------- 4.120Golf Course Five-Year Outlook -2 of 2 General FundYears 2024 to 2039 Years 2024 to 2039RESERVE EXPENDITURES Explanatory Notes: 3.3% is the estimated Inflation Rate for estimating Future Replacement Costs. 1) 2) FY2024 is Fiscal Year beginning October 1, 2024 and ending September 30, 2025. Community Development District 3.3% is the estimated Inflation Rate for estimating Future Replacement Costs. Life Analysis, Costs, $ Percentage Line Total Per Phase 1st Year of Years Unit Per Phase Total of Future RUL = 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Item Quantity Quantity Units Reserve Component Inventory Event Useful Remaining (2024) (2024) (2024) Expenditures FY2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 Viera East 2)FY20242 Each Computer Equipment, Workstations, Accounting 2027 to 5 3 2,400.00 4,800 4,800 1.0% 5,291 6,224 7,321 is Fiscal Year beginning October 1, 2024 and ending September 30, 2025. Community Development District1 Allowance Furnishings, Offices 2027 to 20 3 9,500.00 9,500 9,500 0.6% 10,472 Rockledge, FloridaPond Elements 2.200 1 1 Each Pond, Aerator, Woodside Park 2037 10 to 15 13 32,000.00 32,000 32,000 2.6% 48,804 2.201 40 40 Each Drainage Control Structures, Inspections and Capital Repairs 2029 to 5 5 850.00 34,000 34,000 7.5% 39,993 47,042 55,333 2.203 110 110 Each Outflow Pipes, Mitered End Sections, Capital Repairs 2029 to 5 5 275.00 30,250 30,250 6.7% 35,582 41,853 49,230 Property Site Elements 2.300 13,400 13,400 Square Yards Asphalt Pavement, Patch and Seal Coat (Adjusted Scope When in Coordination with Paving) 2028 3 to 5 4 2.00 26,800 26,800 5.6% 26,076 35,895 42,222 2.301 11,450 11,450 Square Yards Asphalt Pavement, Mill and Overlay, Clubhouse Parking Area (Incl. Access Drive) 2043 15 to 20 19 19.00 217,550 217,550 8.1% 2.302 1,950 1,950 Square Yards Asphalt Pavement, Mill and Overlay, Woodside Park 2028 15 to 20 4 19.00 37,050 37,050 2.5% 42,188 2.303 1,250 1,250 Square Feet Bridges, Pedestrian, Recreation Lake, Paint Finishes and Capital Repairs 2028 6 to 8 4 18.00 22,500 22,500 3.2% 25,620 33,219 2.304 1,250 1,250 Square Feet Bridges, Pedestrian, Recreation Lake, Replacement 2036 20 to 25 12 78.00 97,500 97,500 2.9% 143,949 2.305 5 5 Each Catch Basins, Landscape, Clubhouse Parking Area, Inspections and Capital Repairs 2028 15 to 20 4 1,200.00 6,000 6,000 0.4% 6,832 2.306 6,700 1,340 Linear Feet Concrete Curbs and Gutters, Clubhouse Parking Area, Partial 2043 to 65 19 to 30+ 48.00 64,320 321,600 2.4% 2.307 750 300 Linear Feet Concrete Curbs and Gutters, Woodside Park, Partial 2028 to 65 4 to 30+ 48.00 14,400 36,000 1.0% 16,397 2.308 27,600 1,380 Square Feet Concrete Sidewalks, Clubhouse and Woodside Park, Partial 2026 to 65 2 to 30+ 12.00 16,560 331,200 3.3% 17,671 20,786 24,449 2.309 69,600 2,320 Square Feet Concrete Sidewalks, Nature Trails, Partial 2026 to 65 2 to 30+ 12.00 27,840 835,200 5.6% 29,708 34,944 41,103 2.310 12 12 Each Light Poles and Fixtures, Clubhouse Parking Area 2032 to 25 8 2,400.00 28,800 28,800 0.7% 37,342 Woodside Park Elements 2.400 200 200 Square Feet Bridges, Pedestrian, Playground and Dog Park, Decking and Structure Repairs 2032 10 to 15 8 28.00 5,600 5,600 0.1% 7,261 2.401 200 200 Square Feet Bridges, Pedestrian, Playground and Dog Park, Replacement 2044 20 to 25 20 74.00 14,800 14,800 0.6% 2.402 1 1 Allowance Dog Park Features 2030 to 10 6 9,000.00 9,000 9,000 0.9% 10,936 2.403 700 700 Linear Feet Fences, Chain Link 2045 to 25 21 24.00 16,800 16,800 0.7% 2.404 600 600 Linear Feet Fences, Wood, Split Rail 2040 to 20 16 26.00 15,600 15,600 0.5% 2.405 1 1 Each Irrigation System, Pump 2042 to 20 18 16,000.00 16,000 16,000 0.6% 2.406 1 1 Allowance Irrigation System, Replacement 2052 to 30 28 24,900.00 24,900 24,900 1.2% 2.407 1 1 Allowance Playground Equipment 2040 15 to 20 16 30,000.00 30,000 30,000 1.0% 2.408 2 2 Each Rest Room Building, Doors 2026 to 30 2 2,000.00 4,000 4,000 0.1% 4,268 2.409 1,000 1,000 Square Feet Rest Room Building, Paint Finishes, Exterior 2026 4 to 6 2 5.50 5,500 5,500 0.9% 5,869 7,131 8,665 2.410 2 2 Each Rest Room Building, Rest Rooms, Renovations (Incl. Patio Ceiling) 2044 to 25 20 7,500.00 15,000 15,000 0.6% 2.411 8 8 Squares Rest Room Building, Roof, Asphalt Shingles 2026 12 to 18 2 780.00 6,240 6,240 0.4% 6,659 2.412 1,200 1,200 Square Feet Shade Structures, Canvas, Interim Replacement 2028 6 to 8 4 12.00 14,400 14,400 2.0% 16,397 21,260 2.413 1,200 1,200 Square Feet Shade Structures, Canvas and Frames, Total Replacement 2044 to 25 20 32.00 38,400 38,400 1.5% 2.414 1 1 Allowance Site Furniture 2032 10 to 15 8 27,000.00 27,000 27,000 1.7% 35,008 Maintenance Facility Elements 3.100 4,600 4,600 Square Yards Asphalt Pavement, Patch and Seal Coat 2026 3 to 5 2 2.00 3,036 3,036 0.4% 3,240 4,339 3.101 4,600 4,600 Square Yards Asphalt Pavement, Mill and Overlay 2030 15 to 20 6 19.00 28,842 28,842 2.0% 35,045 3.103 600 600 Square Feet Carport, Vehicle and Equipment Storage 2043 to 25 19 28.00 5,544 5,544 0.2% 3.104 7,100 475 Square Feet Concrete Flatwork, Partial (Incl. Wash Station) 2026 to 65+ 2 to 30+ 13.00 2,038 30,459 0.4% 2,174 2,558 3,009 General Fund Expenditures - Section 3 - 1 of 4 General FundYears 2040 to 2054 RESERVE EXPENDITURES Viera Eastt Rockledge, Floridat Estimated Life Analysis,Life Analysis, Costs, $ Percentage Line Total Per Phase 1st Year of Years Unit Per Phase Total of Future 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Item Quantity Quantity Units Reserve Component Inventory Event Useful Remaining (2024) (2024) (2024) Expenditures 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 Costs, $ PercentageLine2 Each Computer Equipment, Workstations, Accounting 2027 to 5 3 2,400.00 4,800 4,800 1.0% 8,611 10,129 11,914 TotalPer Phase1 Allowance Furnishings, Offices 2027 to 20 3 9,500.00 9,500 9,500 0.6% 20,046 1st Year ofPond Elements 2.200 1 1 Each Pond, Aerator, Woodside Park 2037 10 to 15 13 32,000.00 32,000 32,000 2.6% 2.201 40 40 Each Drainage Control Structures, Inspections and Capital Repairs 2029 to 5 5 850.00 34,000 34,000 7.5% 2.203 110 110 Each Outflow Pipes, Mitered End Sections, Capital Repairs 2029 to 5 5 275.00 30,250 30,250 6.7% Property Site Elements 2.300 13,400 13,400 Square Yards Asphalt Pavement, Patch and Seal Coat (Adjusted Scope When in Coordination with Paving) 2028 3 to 5 4 2.00 26,800 26,800 5.6% 2.301 11,450 11,450 Square Yards Asphalt Pavement, Mill and Overlay, Clubhouse Parking Area (Incl. Access Drive) 2043 15 to 20 19 19.00 217,550 217,550 8.1% 2.302 1,950 1,950 Square Yards Asphalt Pavement, Mill and Overlay, Woodside Park 2028 15 to 20 4 19.00 37,050 37,050 2.5% 2.303 1,250 1,250 Square Feet Bridges, Pedestrian, Recreation Lake, Paint Finishes and Capital Repairs 2028 6 to 8 4 18.00 22,500 22,500 3.2% 2.304 1,250 1,250 Square Feet Bridges, Pedestrian, Recreation Lake, Replacement 2036 20 to 25 12 78.00 97,500 97,500 2.9% 2.305 5 5 Each Catch Basins, Landscape, Clubhouse Parking Area, Inspections and Capital Repairs 2028 15 to 20 4 1,200.00 6,000 6,000 0.4% 2.306 6,700 1,340 Linear Feet Concrete Curbs and Gutters, Clubhouse Parking Area, Partial 2043 to 65 19 to 30+ 48.00 64,320 321,600 2.4% 2.307 750 300 Linear Feet Concrete Curbs and Gutters, Woodside Park, Partial 2028 to 65 4 to 30+ 48.00 14,400 36,000 1.0% 2.308 27,600 1,380 Square Feet Concrete Sidewalks, Clubhouse and Woodside Park, Partial 2026 to 65 2 to 30+ 12.00 16,560 331,200 3.3% 2.309 69,600 2,320 Square Feet Concrete Sidewalks, Nature Trails, Partial 2026 to 65 2 to 30+ 12.00 27,840 835,200 5.6% 2.310 12 12 Each Light Poles and Fixtures, Clubhouse Parking Area 2032 to 25 8 2,400.00 28,800 28,800 0.7% Woodside Park Elements 2.400 200 200 Square Feet Bridges, Pedestrian, Playground and Dog Park, Decking and Structure Repairs 2032 10 to 15 8 28.00 5,600 5,600 0.1% 2.401 200 200 Square Feet Bridges, Pedestrian, Playground and Dog Park, Replacement 2044 20 to 25 20 74.00 14,800 14,800 0.6% 2.402 1 1 Allowance Dog Park Features 2030 to 10 6 9,000.00 9,000 9,000 0.9% 2.403 700 700 Linear Feet Fences, Chain Link 2045 to 25 21 24.00 16,800 16,800 0.7% 2.404 600 600 Linear Feet Fences, Wood, Split Rail 2040 to 20 16 26.00 15,600 15,600 0.5% 2.405 1 1 Each Irrigation System, Pump 2042 to 20 18 16,000.00 16,000 16,000 0.6% 2.406 1 1 Allowance Irrigation System, Replacement 2052 to 30 28 24,900.00 24,900 24,900 1.2% 2.407 1 1 Allowance Playground Equipment 2040 15 to 20 16 30,000.00 30,000 30,000 1.0% 2.408 2 2 Each Rest Room Building, Doors 2026 to 30 2 2,000.00 4,000 4,000 0.1% 2.409 1,000 1,000 Square Feet Rest Room Building, Paint Finishes, Exterior 2026 4 to 6 2 5.50 5,500 5,500 0.9% 2.410 2 2 Each Rest Room Building, Rest Rooms, Renovations (Incl. Patio Ceiling) 2044 to 25 20 7,500.00 15,000 15,000 0.6% 2.411 8 8 Squares Rest Room Building, Roof, Asphalt Shingles 2026 12 to 18 2 780.00 6,240 6,240 0.4% 2.412 1,200 1,200 Square Feet Shade Structures, Canvas, Interim Replacement 2028 6 to 8 4 12.00 14,400 14,400 2.0% 2.413 1,200 1,200 Square Feet Shade Structures, Canvas and Frames, Total Replacement 2044 to 25 20 32.00 38,400 38,400 1.5% 2.414 1 1 Allowance Site Furniture 2032 10 to 15 8 27,000.00 27,000 27,000 1.7% Maintenance Facility Elements 3.100 4,600 4,600 Square Yards Asphalt Pavement, Patch and Seal Coat 2026 3 to 5 2 2.00 3,036 3,036 0.4% 3.101 4,600 4,600 Square Yards Asphalt Pavement, Mill and Overlay 2030 15 to 20 6 19.00 28,842 28,842 2.0% 3.103 600 600 Square Feet Carport, Vehicle and Equipment Storage 2043 to 25 19 28.00 5,544 5,544 0.2% 3.104 7,100 475 Square Feet Concrete Flatwork, Partial (Incl. Wash Station) 2026 to 65+ 2 to 30+ 13.00 2,038 30,459 0.4% 79,425 65,086 76,557 90,051 57,907 68,114 80,119 49,664 58,417 68,714 403,149 80,760 43,071 55,846 13,079 119,193 31,388 28,758 33,827 39,790 48,348 56,869 66,893 28,331 15,130 20,934 33,221 26,226 28,703 61,803 50,434 10,529 12,793 28,714 11,945 27,566 35,741 73,509 51,686 5,104 6,004 67,086 10,274 3,539 4,163 4,896 Years General Fund Expenditures - Section 3 - 2 of 4 General Fund Years 2024 to 2039Years 2024 to 2039 RESERVE EXPENDITURESExplanatory Notes: 1)3.3% is the estimated Inflation Rate for estimating Future Replacement Costs. 3.3% 2) FY2024 is Fiscal Year beginning October 1, 2024 and ending September 30, 2025. Community Development District is the estimated Inflation Rate for estimating Future Replacement Costs. Viera EastLife Analysis, Costs, $ Percentage Line Total Per Phase 1st Year of Years Unit Per Phase Total of Future RUL = 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Item Quantity Quantity Units Reserve Component Inventory Event Useful Remaining (2024) (2024) (2024) Expenditures FY2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2)FY20241,050 Square Feet Fences, Chain Link (Incl. Gate) 2030 to 25 6 32.00 11,088 11,088 0.3% 13,473 is Fiscal Year beginning October 1, 2024 and ending September 30, 2025.3.111 10 10 Each Light Poles and Fixtures 2030 to 25 6 1,600.00 5,280 5,280 0.1% 6,416 3.113 200 200 Square Feet Storage Shed 2032 to 30 8 55.00 11,000 11,000 0.3% 14,262 3.114 2 2 Each Tanks, Fuel Storage, 1,000-Gallon 2030 to 20 6 6,200.00 4,092 4,092 0.3% 4,972 3.115 1 1 Each Tanks, Oil Separation 2030 to 20 6 5,800.00 1,914 1,914 0.1% 2,326 Maintenance Building Elements 3.200 1 1 Each Air Handling and Condensing Units, Split System 2036 10 to 15 12 7,500.00 2,475 2,475 0.2% 3,654 3.201 8 8 Each Doors, Overhead 2029 to 25 5 3,200.00 8,448 8,448 0.6% 9,937 3.202 1 1 Each Ice Machine, Manitowoc 2029 to 15 5 4,500.00 1,485 1,485 0.1% 1,747 3.203 1,400 1,400 Square Feet Interior Renovation, Complete 2028 to 30 4 60.00 27,720 27,720 0.6% 31,564 3.204 1,400 1,400 Square Feet Interior Renovation, Partial, Subsequent 2038 8 to 12 14 8.00 3,696 3,696 0.3% 5,823 3.205 23,900 23,900 Square Feet Metal Frame, Paint Finishes and Repairs 2028 8 to 10 4 2.00 15,774 15,774 1.1% 17,962 3.206 18,600 18,600 Square Feet Roof and Siding, Metal 2039 to 45 15 14.00 85,932 85,932 2.8% 139,849 3.207 225 225 Square Feet Windows and Doors 2039 to 40 15 110.00 8,168 8,168 0.3% 13,292 Maintenance Equipment (CDD and Shared) 4.101 1 1 Each Carts and Utility Vehicles, Cub Cadet 2032 to 15 8 6,800.00 6,800 6,800 0.5% 8,817 4.103 1 1 Each Carts and Utility Vehicles, Cushman Hauler 800X EFI 2034 10 to 15 10 9,500.00 9,500 9,500 0.7% 13,144 4.109 1 1 Each Carts and Utility Vehicles, Kawasaki 2030 to 15 6 11,500.00 11,500 11,500 0.7% 13,973 4.110 1 1 Each Carts and Utility Vehicles, Kubota RTV 520 2030 to 15 6 12,500.00 12,500 12,500 0.8% 15,188 4.114 1 1 Each Excavator, Volvo EC 25 2030 20 to 25 6 18,700.00 18,700 18,700 0.5% 22,722 4.115 1 1 Each Light Trucks, Ford F-150 2031 10 to 15 7 45,000.00 45,000 45,000 4.9% 56,483 4.116 1 1 Each Light Trucks, Ford F-250 2036 10 to 15 12 75,000.00 75,000 75,000 5.8% 110,730 4.117 2 2 Each Loaders, Tracked, Caterpillar 2034 20 to 25 10 60,000.00 120,000 120,000 3.3% 166,029 4.118 1 1 Each Loaders, Wheeled, Caterpillar (Shared) 2034 to 25 10 80,800.00 26,664 26,664 0.7% 36,892 4.126 1 1 Each Implements, Mulcher 2029 to 10 5 28,000.00 6,500 28,000 2.8% 32,935 45,568 4.132 1 1 Each Mowers, Self-Propelled, Kubota Zero Turn (Shared, Incl. Miscellaneous Attachments) 2031 8 to 10 7 19,800.00 6,534 6,534 0.7% 8,201 4.140 1 1 Each Tractors, Case 580 Super K 2027 to 35 3 19,500.00 19,500 19,500 0.4% 21,495 4.141 1 1 Each Tractors, Ford 5030 2027 to 35 3 6,000.00 6,000 6,000 0.1% 6,614 4.143 1 1 Each Tractors, Kubota M6060D 2040 20 to 25 16 17,300.00 17,300 17,300 0.6% 4.145 3 3 Each Trailers, Miscellaneous 2030 20 to 25 6 5,500.00 16,500 16,500 0.4% 20,049 1 Allowance Reserve Study Update with Site Visit 2026 to 2 2 8,200.00 2,050 2,050 0.0% 2,050 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Community Development District Rockledge, Florida General Fund Expenditures - Section 3 - 3 of 4 General Fund RESERVE EXPENDITURESYears 2040 to 2054 Viera East Community Development DistrictRockledge, Florida EstimatedLife Analysis,Costs, $PercentageLineTotalPer Phase1st Year ofYearsUnitPer PhaseTotalof FutureItemQuantityQuantityUnitsReserve Component InventoryEventUsefulRemaining(2024)(2024)(2024)Expenditures------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ 3.1051,0501,050Square FeetFences, Chain Link (Incl. Gate)2030to 25632.0011,08811,0880.3% 3.1111010EachLight Poles and Fixtures2030to 25 61,600.001,050 Square Feet Fences, Chain Link (Incl. Gate) 2030 to 25 6 32.00 11,088 11,088 0.3% 5,2803.111 10 10 Each Light Poles and Fixtures 2030 to 25 6 1,600.00 5,280 5,280 0.1% 3.113 200 200 Square Feet Storage Shed 2032 to 30 8 55.00 11,000 11,000 0.3% 3.114 2 2 Each Tanks, Fuel Storage, 1,000-Gallon 2030 to 20 6 6,200.00 4,092 4,092 0.3% 3.115 1 1 Each Tanks, Oil Separation 2030 to 20 6 5,800.00 1,914 1,914 0.1% Maintenance Building Elements 3.200 1 1 Each Air Handling and Condensing Units, Split System 2036 10 to 15 12 7,500.00 2,475 2,475 0.2% 3.201 8 8 Each Doors, Overhead 2029 to 25 5 3,200.00 8,448 8,448 0.6% 3.202 1 1 Each Ice Machine, Manitowoc 2029 to 15 5 4,500.00 1,485 1,485 0.1% 3.203 1,400 1,400 Square Feet Interior Renovation, Complete 2028 to 30 4 60.00 27,720 27,720 0.6% 3.204 1,400 1,400 Square Feet Interior Renovation, Partial, Subsequent 2038 8 to 12 14 8.00 3,696 3,696 0.3% 3.205 23,900 23,900 Square Feet Metal Frame, Paint Finishes and Repairs 2028 8 to 10 4 2.00 15,774 15,774 1.1% 3.206 18,600 18,600 Square Feet Roof and Siding, Metal 2039 to 45 15 14.00 85,932 85,932 2.8% 3.207 225 225 Square Feet Windows and Doors 2039 to 40 15 110.00 8,168 8,168 0.3% Maintenance Equipment (CDD and Shared) 4.101 1 1 Each Carts and Utility Vehicles, Cub Cadet 2032 to 15 8 6,800.00 6,800 6,800 0.5% 4.103 1 1 Each Carts and Utility Vehicles, Cushman Hauler 800X EFI 2034 10 to 15 10 9,500.00 9,500 9,500 0.7% 4.109 1 1 Each Carts and Utility Vehicles, Kawasaki 2030 to 15 6 11,500.00 11,500 11,500 0.7% 4.110 1 1 Each Carts and Utility Vehicles, Kubota RTV 520 2030 to 15 6 12,500.00 12,500 12,500 0.8% 4.114 1 1 Each Excavator, Volvo EC 25 2030 20 to 25 6 18,700.00 18,700 18,700 0.5% 4.115 1 1 Each Light Trucks, Ford F-150 2031 10 to 15 7 45,000.00 45,000 45,000 4.9% 4.116 1 1 Each Light Trucks, Ford F-250 2036 10 to 15 12 75,000.00 75,000 75,000 5.8% 4.117 2 2 Each Loaders, Tracked, Caterpillar 2034 20 to 25 10 60,000.00 120,000 120,000 3.3% 4.118 1 1 Each Loaders, Wheeled, Caterpillar (Shared) 2034 to 25 10 80,800.00 26,664 26,664 0.7% 4.126 1 1 Each Implements, Mulcher 2029 to 10 5 28,000.00 6,500 28,000 2.8% 4.132 1 1 Each Mowers, Self-Propelled, Kubota Zero Turn (Shared, Incl. Miscellaneous Attachments) 2031 8 to 10 7 19,800.00 6,534 6,534 0.7% 4.140 1 1 Each Tractors, Case 580 Super K 2027 to 35 3 19,500.00 19,500 19,500 0.4% 4.141 1 1 Each Tractors, Ford 5030 2027 to 35 3 6,000.00 6,000 6,000 0.1% 4.143 1 1 Each Tractors, Kubota M6060D 2040 20 to 25 16 17,300.00 17,300 17,300 0.6% 4.145 3 3 Each Trailers, Miscellaneous 2030 20 to 25 6 5,500.00 16,500 16,500 0.4% 1 Allowance Reserve Study Update with Site Visit 2026 to 2 2 8,200.00 2,050 2,050 0.0% ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Anticipated Expenditures, By Year ($4,984,026 over 30 years) 2,990,491 5,2809,518 4,452 5,947 22,375 2,843 8,056 34,383 14,349 19,406 22,741 24,718 78,148 108,124 180,206 63,047 11,347 15,700 29,084 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 125,978 170,140 37,314 582,280 401,186 86,684 114,265 44,524 226,084 207,718 114,783 421,555 244,729 68,714 192,545 0.1% General Fund Expenditures - Section 3 - 4 of 4 RESERVE FUNDING PLAN all per OwnersGeneral Fund CASH FLOW ANALYSIS Viera East Community Development District Rockledge, Florida Reserves at Beginning of Year (Note 1) AnnualFY2024 2025 2026 2027 2028 2029 N/A 592,672 693,456 748,121 834,437 784,020 Monthly797,803 2026788,751 2027804,018 2028828,905 2029938,124 2030779,853 2031924,400 2032693,031 General Fund787,384 Recommended886,613 $55,000Recommended Reserve Contributions N/A 31,777 55,000 56,800 58,700 60,600 62,600 64,700 66,800 69,000 71,300 73,700 76,100 78,600 81,200 83,900 Additional Reserve Contributions N/A 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 Total Recommended Reserve Contributions (Note 2) N/A 81,777 105,000 106,800 108,700 110,600 112,600 114,700 116,800 119,000 121,300 123,700 126,100 128,600 131,200 133,900 $4,583.33$0.75$0.78$0.81$0.83$0.86$0.89$0.92CASH FLOW ANALYSISCurrent$31,777$2,648.08Viera EastIncrease$23,223$1,935.25$0.32$0.02$0.03$0.03$0.03$0.03$0.03Community Development DistrictIndividual Reserve Budgets & Cash Flows for the Next 30 Years% over OB0.422236364% over previous42.22%3.17%3.24%3.14%3.19%3.25%3.14% Rockledge, Florida------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ 202520262027202820292030203120322033203420352036203720382039Reserves at Beginning of Year(Note 1)N/A592,672693,456748,121834,437784,020797,803788,751804,018828,905938,124779,853924,400693,031787,384886,613Recommended Reserve Contributions N/A31,77755,00056,80058,70060,60062,60064,70066,80069,00071,30073,70076,10078,60081,20083,900Additional Reserve ContributionsN/A50,00050,00050,00050,00050,00050,00050,00050,000 50,000Recommended Reserve Contributions 86,700 89,600 92,600 95,700 98,900 102,200 105,600 109,100 112,700 116,400 120,200 124,200 128,300 132,500 136,900 Additional Reserve Contributions 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 Total Recommended Reserve Contributions 136,700 139,600 142,600 145,700 148,900 152,200 155,600 159,100 162,700 166,400 170,200 174,200 178,300 182,500 186,900 50,00022,400 22,775 24,579 20,347 10,624 8,142 9,989 12,627 13,774 12,616 13,206 10,723 6,338 7,239 9,078 50,000(125,978) (170,140) (37,314) (582,280) (401,186) (86,684) (114,265) (44,524) (226,084) (207,718) (114,783) (421,555) (244,729) (68,714) (192,545) 50,00050,000Total Recommended Reserve Contributions(Note 2)N/A81,777105,000106,800108,700110,600112,600114,700116,800119,000121,300123,700126,100128,600131,200133,900 Estimated Interest Earned, During YearYear 2024 ending reserves are projected by Management and the Board as of September 30, 2024; FY2024 starts October 1, 2024 and ends September 30, 2025. N/A2026 is the first year of recommended contributions. 21,3043.0% is the estimated annual rate of return on invested reserves 23,918Accumulated year 2054 ending reserves consider the need to fund for continued replacement of the maintenance equipment and repaving of the clubhouse parking area shortly after 2054, and the age, size, overall condition and complexity of the property. 23,447Threshold Funding Years (reserve balance at critical point) . 24,132 General Fund Funding Plan - Section 3 General FundFIVE-YEAR OUTLOOKExplanatory Notes: for the full list of reserve elements 1)3.3% Community Development District Rockledge, Florida is the estimated Inflation Rate for estimating Future Percentage RUL = 0 1 2 3 4 5 Item Reserve Component Inventory Ownership FY2024 2025 2026 2027 2028 2029 Viera East 2) 2.201 Drainage Control Structures, Inspections and Capital Repairs 100% 39,993 2.203 Outflow Pipes, Mitered End Sections, Capital Repairs 100% 35,582 Property Site Elements 2.300 Asphalt Pavement, Patch and Seal Coat (Adjusted Scope When in Coordination with Paving) 100% 26,076 2.302 Asphalt Pavement, Mill and Overlay, Woodside Park 100% 42,188 2.303 Bridges, Pedestrian, Recreation Lake, Paint Finishes and Capital Repairs 100% 25,620 2.305 Catch Basins, Landscape, Clubhouse Parking Area, Inspections and Capital Repairs 100% 6,832 2.307 Concrete Curbs and Gutters, Woodside Park, Partial 100% 16,397 2.308 Concrete Sidewalks, Clubhouse and Woodside Park, Partial 100% 17,671 2.309 Concrete Sidewalks, Nature Trails, Partial 100% 29,708 Woodside Park Elements 2.408 Rest Room Building, Doors 100% 4,268 2.409 Rest Room Building, Paint Finishes, Exterior 100% 5,869 2.411 Rest Room Building, Roof, Asphalt Shingles 100% 6,659 2.412 Shade Structures, Canvas, Interim Replacement 100% 16,397 Maintenance Facility Elements 3.100 Asphalt Pavement, Patch and Seal Coat 33% 3,240 3.104 Concrete Flatwork, Partial (Incl. Wash Station) 33% 2,174 Maintenance Building Elements 3.201 Doors, Overhead 33% 9,937 3.202 Ice Machine, Manitowoc 33% 1,747 3.203 Interior Renovation, Complete 33% 31,564 3.205 Metal Frame, Paint Finishes and Repairs 33% 17,962 Maintenance Equipment (CDD and Shared) 4.126 Implements, Mulcher 100% 32,935 4.140 Tractors, Case 580 Super K 100% 21,495 4.141 Tractors, Ford 5030 100% 6,614 Reserve Study Update with Site Visit 25% 2,050 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ FY2024 is Fiscal Year beginning October 1, 2024 and ending General Fund Five-Year Outlook - 1 of 1 Page 4.1 - Reserve Component Detail 4. RESERVE COMPONENT DETAIL The Reserve Component Detail of this Reserve Study includes enhanced solutions and procedures for select significant components. This section describes the Reserve Components, documents specific problems and condition assessments, and may include detailed solutions and procedures for necessary capital repairs and replacements for the benefit of current and future board members. We advise Management and the Board use this information to help define the scope and procedures for repair or replacement when soliciting bids or proposals from contractors. However, the Report in whole or part is not and should not be used as a design specification or design engineering service. GOLF - Clubhouse Exterior Building Elements Clubhouse exterior overview Starter’s Station overview Doors, Metal Line Item: 1.100 Quantity: Seven metal doors at the clubhouse rest rooms, cart barn, kitchen exit and office History: Likely original to construction with the benefit of paint finish applications and repairs performed on an as-needed basis Condition: Good to fair overall with no significant visible deterioration Metal door at rest room Metal doors at cart barn Useful Life: Up to 35 years Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Annually: o Inspect and repair any damage, base corrosion or alignment issues o Replace deteriorated hardware and loose weather stripping o Periodic touch-up paint finish applications as needed Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Patio, Gemstone Coating Line Items: 1.101 and 1.102 Quantity: Approximately 7,450 square feet of horizontal surface area at the patio, rest rooms and restaurant. These surfaces comprise concrete with a gemstone waterproof coating History: Repaired and coated in 2020 Condition: Good overall with no visible deterioration Gemstone coating at Clubhouse Gemstone coating at portico Gemstone floor coating inside restaurant Gemstone floor coating inside restaurant Useful Life: Replacement of the gemstone waterproof coating every 20- to 25-years with the benefit of interim sealant applications performed every four- to six-years Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Railings, Aluminum Line Item: 1.103 Quantity: Approximately 310 linear feet of aluminum railings at the Clubhouse patio History: Original with the benefit of repairs and paint finish applications performed in 2020 Condition: Good overall with no significant visible deterioration evident Page 4.4 - Reserve Component Detail Aluminum railings at outdoor seating area Aluminum railings Aluminum railings Useful Life: Up to 35 years Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Annually: o Inspect for damage, and excessive finish deterioration or corrosion o Test security of railings and inspect connection fasteners Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Page 4.5 - Reserve Component Detail Roof Assemblies, Asphalt Shingles Line Item: 1.104 Quantity: Approximately 205 squares1 of asphalt shingles at the Clubhouse building and Starter’s Station, approximately 7,300 square feet of aluminum soffit, approximately 780 linear feet of fascia boards and approximately 180 linear feet of aluminum gutters and downspouts. History: Replaced in 2022. The District should conduct inspections of the roofs semiannually and fund these inspections through the operating budget. Condition: Good overall with no visible deterioration evident from our visual inspection from the ground. Management does not report a history of leaks. Aluminum gutters and downspouts Roof at Starter’s Station Roof overview at portico Roof overview 1 We quantify the roof area in squares where one square is equal to 100 square feet of surface area. Page 4.6 - Reserve Component Detail Roof overview Valley detail Vinyl soffits and fascia at Clubhouse Vinyl soffits and fascia at the Starter’s Station Useful Life: 12- to 18-years Component Detail Notes: The existing roof assembly comprises the following: • Architectural shingles • Boston style ridge caps • Rubber seal with metal base boot flashing at waste pipes • Soffit, gable and square hood box vents • Metal drip edge • Enclosed half weaved valleys Insulation and ventilation are two major components of a sloped roof system. Together, proper insulation and ventilation help to control attic moisture and maintain an energy efficient building. Both insulation and ventilation prevent moisture buildup which can cause wood rot, mold and mildew growth, warp sheathing, deteriorate shingles, and eventually damage building interiors. Sufficient insulation helps to minimize the quantity of moisture that enters the attic spaces and adequate ventilation helps to remove any moisture that enters the attic spaces. These two roof system components also help to reduce the amount of energy that is required to heat and cool a building. Proper attic insulation minimizes heat gain and heat loss between the residential living spaces and attic spaces. This reduces energy consumption year-round. Proper attic ventilation removes excessive heat from attic spaces that can radiate into residential living spaces and cause air conditioners to work harder. Properly installed attic insulation and ventilation work together to maximize the useful life of sloped roof systems. The vents should be clear of debris and not blocked from above by attic insulation. If the soffit vents are blocked from above, installation of polystyrene vent spaces or baffles between the roof joists at these locations can ensure proper ventilation. Certain characteristics of condition govern the times of replacement. Replacement of an asphalt shingle roof becomes necessary when there are multiple or recurring leaks and when the shingles begin to cup, curl and lift. These conditions are indications that the asphalt shingle roof is near the end of its useful life. Even if the shingles are largely watertight, the infiltration of water in one area can lead to permanent damage to the underlying roof sheathing. This type of deterioration requires replacement of saturated sections of sheathing and greatly increases the cost of roof replacement. Roof leaks may occur from interrelated roof system components, i.e., flashings. Therefore, the warranty period, if any, on the asphalt shingles, may exceed the useful life of the roof system. Warranties are an indication of product quality and are not a product guarantee. Asphalt shingle product warranties vary from 20- to 50-years and beyond. However, the scope is usually limited to only the material cost of the shingles as caused by manufacturing defects. Warranties may cover defects such as thermal splitting, granule loss, cupping, and curling. Labor cost is rarely included in the remedy so if roof materials fail, the labor to tear off and install new shingles is extra. Other limitations of warranties are exclusions for "incidental and consequential" damages resulting from age, hurricanes, hail storms, ice dams, severe winds, tornadoes, earthquakes, etc. There are some warranties which offer no dollar limit for replacement at an additional cost (effectively an insurance policy) but again these warranties also have limits and may not cover all damages other than a product defect. We recommend a review of the manufacturers’ warranties as part of the evaluation of competing proposals to replace a roof system. This evaluation should identify the current costs of remedy if the roof were to fail in the near future. A comparison of the costs of remedy to the total replacement cost will assist in judging the merits of the warranties. The following cross-sectional schematic illustrates a typical asphalt shingle roof system although it may not reflect the actual configuration at Viera East: Contractors use one of two methods for replacement of sloped roofs, either an overlayment or a tear-off. Overlayment is the application of new shingles over an existing roof. However, there are many disadvantages to overlayment including hidden defects of the underlying roof system, absorption of more heat resulting in accelerated deterioration of the new and old shingles, and an uneven visual appearance. Therefore, we recommend only the tear-off method of replacement. The tear-off method of replacement includes removal of the existing shingles, flashings if required and underlayments. The District should plan to coordinate the replacement of gutters and downspouts and soffit and fascia components with the adjacent roofs. This will result in the most economical unit price and minimize the possibility of damage to other roof components as compared to separate replacements. Preventative Maintenance Notes: We recommend the District maintain a service and inspection contract with a qualified professional and record all documentation of repairs conducted. We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Annually: o Record any areas of water infiltration, flashing deterioration, damage or loose shingles o Implement repairs as needed if issues are reoccurring o Trim tree branches that are near or in contact with roof • As-needed: o Ensure proper ventilation and verify vents are clear of debris and not blocked from attic insulation Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our estimate of cost includes replacement of the aluminum gutters and downspouts and partial replacement of up to fifty percent (50%) of the soffit and fascia components per event. Walls, Stucco Line Item: 1.105 Quantity: Approximately 9,600 square feet of the Clubhouse exterior and Starter’s Station History: Painted and repaired in 2020 Condition: Good to fair overall with no visible deterioration evident. Stucco finishes at portico Stucco wall finishes Stucco terminates above lower roof section Stucco wall finishes at cart barn Useful Life: We recommend inspections, repairs and paint finish applications every fiveto seven-years. Component Detail Notes: The following graphic details the typical components of a stucco wall system on frame construction although it may not reflect the actual configuration at Viera East: Correct and complete preparation of the surface before application of the paint finish maximizes the useful life of the paint finish and surface. The contractor should remove all loose, peeled or blistered paint before application of the new paint finish. The contractor should then power wash the surface to remove all dirt and biological growth. Page 4.11 - Reserve Component Detail Water-soluble cleaners that will not attack Portland cement are acceptable for removing stains. Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our estimate of cost anticipates the following in coordination with each paint finish application: • Complete inspection of the stucco • Crack repairs as needed (Each paint product has the limited ability to cover and seal cracks but we recommend repair of all cracks which exceed the ability of the paint product to bridge.) • Replacement of up to one percent (1%), of the stucco walls (The exact amount of area in need of replacement will be discretionary based on the actual future conditions and the desired appearance.) • Replacement of up to thirty-three percent (33%) of the sealants in coordination with each paint finish application. Windows and Doors Line Item: 1.106 Quantity: Approximately 1,150 square feet at the Pro Shop and restaurant History: Likely original to construction Condition: Good to fair overall with no significant visible deterioration Windows and doors at Pro Shop Windows and doors at restaurant Useful Life: Up to 40 years Component Detail Notes: Construction includes the following: • Aluminum frames • Dual pane glass • Fixed windows • Hinged doors The following schematic depicts the typical components of a window system although it may not reflect the actual configuration at Viera East: Properly designed window assemblies anticipate the penetration of some storm water beyond the gaskets. This infiltrated storm water collects in an internal drainage system and drains, or exits, the frames through weep holes. These weep holes can become clogged with dirt or if a sealant is applied, resulting in trapped storm water. However, as window frames, gaskets and sealants deteriorate, leaks into the interior can result. The windows will eventually need replacement or major capital repairs to prevent water infiltration and damage from wind driven rain. The thermal efficiencies of the window assemblies are affected by their design and construction components. These components include glazings, thickness of air space between glazings, low-conductivity gas, tinted coatings, low-e coatings and thermal barriers. The District should thoroughly investigate these component options at the time of replacement. Some manufacturers may include these components as part of the standard product and other manufacturers may consider these components as options for an additional cost. Viera East should review the specifications provided by the Page 4.13 - Reserve Component Detail manufacturers to understand the thermal design and construction components of the proposed assemblies. Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Annually: o Inspect and repair loose weather stripping and/or lock damage o Inspect for broken glass and damaged screens o Record instances of water infiltration, trapped moisture or leaks • As-needed: o Verify weep holes are unobstructed and not blocked with dirt or sealant, if applicable o Replace damaged or deteriorated sliding glass rollers, if applicable Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Page 4.14 - Reserve Component Detail GOLF - Clubhouse Interior Building Elements Pro Shop overview Restaurant overview Bar and Countertop Line Item: 1.200 Quantity: Approximately 100 linear feet at the restaurant, outdoor patio and Starter’s Station History: Replaced in 2020 Condition: Good overall Bar and countertop at outdoor seating area Bar surface Page 4.15 - Reserve Component Detail Counter top at food warmer Countertops at starter station Plastic covering at bar Useful Life: 15- to 20-years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Ceilings, Acoustical Tiles and Grid Line Item: 1.201 Quantity: Approximately 2,000 square feet at the kitchen, Pro Shop and offices History: Likely original to construction Condition: Good to fair overall with no significant deterioration evident. We did not identify significant stains, damaged tiles or rust at the vents. Page 4.16 - Reserve Component Detail Acoustical ceiling at kitchen Acoustical ceiling at pro shop Acoustical ceiling tiles with grid and lighting Useful Life: Up to 30 years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Floor and Wall Coverings, Ceramic Tile, Kitchen Line Item: 1.202 Quantity: Approximately 780 square feet of tile at the kitchen and storage room History: Likely original to construction Condition: Fair overall with cracks and damaged tiles evident Page 4.17 - Reserve Component Detail Tile cracks Tile damage Tile floor coverings at dishwashing area Useful Life: Up to 30 years although replacement of tile is often based on discretionary redecorating prior to the tile reaching the end of its useful life. Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. The District should fund regrouting of the tiles through the operating budget if necessary. Floor Coverings, Carpet, Pro Shop and Offices Line Item: 1.203 Quantity: Approximately 170 square yards at the Pro Shop and offices. (Contractor measurements will vary from the actual floor area due to standard roll lengths, patterns and installation waste.) History: Replaced in 2020 Page 4.18 - Reserve Component Detail Condition: Good overall with no significant deterioration evident. Carpet floor coverings at office area Carpet floor coverings at pro shop Useful Life: 8- to 10-years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Furnishings, Pro Shop Line Item: 1.204 Quantity: Approximately 10 display fixtures including freestanding clothing racks and tables History: Replaced in 2020 Condition: Good overall with no significant deterioration evident. Display fixtures Display fixtures Display table Useful Life: Up to 15 years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Furnishings, Restaurant Line Items: 1.205 and 1.206 Quantity: Furnishings and components in the restaurant include but are not limited to the following elements: • Chairs and booth seating (78) • Tables (22) History: Replaced in 2020 Condition: Good overall with no significant deterioration evident. Page 4.20 - Reserve Component Detail Barstools Booth seating Chairs Chairs at high top tables High top tables Table at booth seating area Page 4.21 - Reserve Component Detail Tables Useful Life: Up to 15 years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Light Fixtures, Pendants and Chandeliers Line Item: 1.207 Quantity: Approximately seven chandeliers and pendant light fixtures at the restaurant History: Replaced in 2020 Condition: Reported satisfactory overall with no significant deterioration evident. Chandelier at dining area Pendant lights at restaurant Useful Life: 20- to 25-years Priority/Criticality: Per Management discretion Page 4.22 - Reserve Component Detail Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Rest Room, Cart Barn Line Item: 1.208 Quantity: The rest room components include: • Tile floor and wall coverings • Paint finishes at the ceiling • Light fixtures • Plumbing fixtures History: Likely original to construction with the benefit of paint finish applications and repairs performed on an as-needed basis. Condition: Good to fair overall Rest room at cart barn Useful Life: Renovation every 20- to 25-years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Rest Rooms, Main Line Item: 1.209 Quantity: The rest room components include: Page 4.23 - Reserve Component Detail • Gemstone floor coating (Depicted on Clubhouse Exterior Building Elements Line Items 1.102 and 1.103 and excluded from this project cost) • Tile wall coverings • Paint finishes at the walls and ceilings • Louvered stall doors • Light fixtures • Plumbing fixtures • Decorations and Paintings History: Renovated in 2020 Condition: Good overall with no significant deterioration evident. Countertop with sinks Paint finishes Rest room fixtures Rest room fixtures and finishes Page 4.24 - Reserve Component Detail Rest room overview Rest room overview Stall doors Tile wall coverings Useful Life: To maintain the desired appearance of the Clubhouse, we depict renovation up to every 20 years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Sales Counter and Cabinetry, Pro Shop Line Item: 1.210 Quantity: Approximately 20 linear feet of cabinetry and countertop at the pro shop History: Replaced in 2020 Condition: Good overall with no significant deterioration evident Page 4.25 - Reserve Component Detail Cabinetry at pro shop Sales counter and cabinetry at pro shop Useful Life: Up to 30 years although replacement of the countertop and cabinetry is often based on discretionary redecorating prior to the end of the useful life. Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Window Treatments, Restaurant Line Item: 1.211 Quantity: Five rolling window shades at the restaurant seating area History: Replaced in 2020 Condition: Good overall condition with no significant deterioration evident Rolling window treatment Useful Life: 8- to 10-years Page 4.26 - Reserve Component Detail Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. GOLF – Clubhouse Kitchen Equipment The District maintains the kitchen equipment at the Hook and Eagle Tavern. Kitchen equipment includes but is not limited to refrigerators, freezers, griddles and ovens, fryers and dishwashing equipment. The kitchen also features an exhaust hood with integrated fire suppression equipment. A walk-in cooler is located in the loading dock area to provide bulk cold storage. The District has performed component replacement on an as-needed basis, will replace the existing cooler in FY2025 and plans to install an additional walk-in cooler in FY2025. The District also plans to remove the various outdoor refrigerators and freezers upon installation of the new walk-in cooler. Replacement of this equipment to be removed is excluded from our analysis. The age of the equipment varies depending on the replacement date, and history information was unavailable for some pieces of equipment. Specific discussion of the age, condition, useful life and estimated cost of each piece of equipment is beyond the scope of this study. For budgetary purposes, we have estimated the age and effective useful life of each piece of equipment to determine the likely date of replacement. Such estimations are depicted on Line Items 1.300 through 1.321 of the Reserve Expenditures table in Section 3. We recommend the District plan for as-needed replacement of inexpensive elements including the coffee brewer, blender, espresso machine, hot dog steamer and food warming light through the operating budget. Coffee brewer and blender Dishwasher Page 4.28 - Reserve Component Detail Dishwashing equipment Espresso machine and hot dog steamer Existing walk-in freezer Food warming light Freezer Freezer mechanical equipment Page 4.29 - Reserve Component Detail Fryers Range and griddle with underlying ovens Ice machine Keg cooler at outdoor seating area Microwave Outdoor griddle Page 4.30 - Reserve Component Detail Prep refrigerator Range hood control system Range hood with integrated fire suppression system Refrigerator at dining area Tap system Under-counter ice machine Page 4.31 - Reserve Component Detail Under-counter refrigerator Under-counter refrigerator Under-counter refrigerator Under-counter refrigerator with glass doors Under-counter refrigerator with glass doors Under-counter refrigerator with top entry Page 4.32 - Reserve Component Detail GOLF - Clubhouse Building Services Elements Air Handling Units Line Items: 1.400 and 1.401 Quantity: One air handling unit which serves the Pro Shop and offices and one air handling unit which serves the restaurant and kitchen History: The air handling unit at the Pro Shop and offices was replaced in 2021. The air handling unit at the restaurant was replaced in 2023. Both air handling units were replaced in coordination with the respective condensing unit. Conditions: Reported satisfactory without operational deficiencies Air handling unit at restaurant Useful Life: Up to 30 years Component Detail Notes: The District may choose to rebuild an air handling unit prior to complete replacement. However, this activity becomes less desirable as air handing units age due to the scarcity of parts. We regard interim replacement of belts, motors and filters as normal maintenance and base our estimates on complete replacements. Preventative Maintenance Notes: The status of preventative maintenance was unavailable to us during our inspection. We recommend the District obtain and adhere to the manufacturer's recommended maintenance plan. We also recommend the District maintain a maintenance contract with a qualified professional. The required preventative maintenance may vary in frequency and scope based on the unit’s age, operational condition, or changes in technology. We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Semi-annually: o Lubricate motors and bearings o Change or clean air filters as needed o Inspect base pan, cabinet and clear obstructions as necessary Page 4.33 - Reserve Component Detail • Annually: o Clean drain pans, clean fan assembly, inspect fan drive system and controls o Inspect and clean accessible ductwork as needed o Check fan belt alignment and tension Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Computer Equipment, Point of Sale and Workstations Line Items: 1.402 and 1.403 Quantity: The Golf Course Reserve fund maintains the computer equipment at the Pro Shop. This equipment includes but is not limited to Point of Sale systems and workstations. The exact model or utilization of each piece of equipment was not ascertained as part of this investigation. We note that accounting workstations are maintained through the General Reserve Fund and are excluded from these replacement costs. History: Replaced in 2020 Condition: Reported in satisfactory condition Computer equipment at pro shop Computer equipment at pro shop Page 4.34 - Reserve Component Detail Workstation at office Useful Life: Up to 10 years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Condensing Units Line Items: 1.404 and 1.405 Quantity: One 7.5-Ton Carrier air-cooled condensing unit serves the Pro Shop and offices and one 15-Ton International Comfort Products air-cooled condensing unit serves the restaurant and kitchen. History: The condensing unit at the Pro Shop and offices was replaced in 2021. The condensing unit at the restaurant and kitchen was replaced in 2023. Condition: Reported satisfactory without operational deficiencies Page 4.35 - Reserve Component Detail Condensing unit at pro shop and offices Condensing unit Condensing unit at restaurant Useful Life: 15- to 20-years Preventative Maintenance Notes: The status of preventative maintenance was unavailable to us during our inspection. We recommend the District obtain and adhere to the manufacturer's recommended maintenance plan. We also recommend the District maintain a maintenance contract with a qualified professional. The required preventative maintenance may vary in frequency and scope based on the unit’s age, operational condition, or changes in technology. We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Semi-annually: o Inspect condenser base and piping insulation o Inspect for excessive vibrations or unusual noises • Annually: o Clean coils and drain pans, clean fan assembly, check refrigerant charge, inspect fan drive system and controls o Clean debris from inside cabinet, inspect condenser compressor and associated tubing for damage Priority/Criticality: Defer only upon opinion of independent professional or engineer Page 4.36 - Reserve Component Detail Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Defibrillator Line Item: 1.406 Quantity: One defibrillator located in the office area History: Likely replaced in 2020 Condition: Reported satisfactory Useful Life: 10- to 15-years Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Ice Machine, Cart Barn Line Item: 1.407 Quantity: One Manitowoc ice machine located in the cart barn History: The age of the ice machine was unavailable at the time of our inspection Condition: Reported in satisfactory condition Ice machine at cart barn Useful Life: Up to 15 years Priority/Criticality: Per Management discretion Page 4.37 - Reserve Component Detail Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Life Safety System Line Item: 1.408 Quantity: The life safety system at the Viera East Clubhouse includes the following components: • Annunciator panels • Control Panel (FireLite by Honeywell) • Audio/visual fixtures • Pull stations • Detectors • Exit signage • Emergency lighting • Wiring History: The age of the components varies. The District has reportedly performed interim component replacements on an as-needed basis Conditions: Reported satisfactory without operational deficiencies. Annunciator panel Audio/visual fixture Page 4.38 - Reserve Component Detail Exit signage Control panel Useful Life: Up to 15 years for the devices Preventative Maintenance Notes: We recommend the District obtain and adhere to the manufacturer’s recommended maintenance plan. In accordance with NFPA 72 (National Fire Alarm and Signaling Code) we also recommend the District maintain a maintenance contract with a qualified professional. The required preventative maintenance may vary in frequency and scope based on the age of the components, operational condition, or changes in technology. We note the following select recommended preventative maintenance activities to maximize the remaining useful life: . Semi-annually: o Inspect and test all components and devices, including, but not limited to, annunciators, detectors, audio/visual fixtures, signal transmitters and magnetic door holders o Test backup batteries . As-needed: o Ensure clear line of access to components such as pull stations o Ensure detectors are properly positioned and clean of debris Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Changes in technology or building codes may make a replacement desirable prior to the end of the functional life. Our estimate of future cost considers only that amount necessary to duplicate the same functionality. Local codes or ordinances at the actual time of replacement may require a betterment as compared to the existing system. A betterment could result in a higher, but at this time unknown, cost of replacement. Security System Line Item: 1.409 Page 4.39 - Reserve Component Detail Quantity: Viera East utilizes the following security system components at the Clubhouse and maintenance facility: • Cameras (Approximately 36) • Recording devices (2) • Monitors (2) History: Upgraded in 2020 Condition: Reported satisfactory without operational deficiencies Security system camera Security system cameras at maintenance facility Useful Life: 10- to 15-years Preventative Maintenance Notes: We recommend the District obtain and adhere to the manufacturer’s recommended maintenance plan. The required preventative maintenance may vary in frequency and scope based on the unit’s age, operational condition, or changes in technology. We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Monthly: o Check cameras for proper focus, fields of view are unobstructed and camera and lenses are clean and dust-free o Check recording equipment for proper operation o Verify monitors are free from distortion with correct brightness and contrast • Annually: o Check exposed wiring and cables for wear, proper connections and signal transmission o Check power connections, and if applicable, functionality of battery power supply systems Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Page 4.40 - Reserve Component Detail Water Heater Line Item: 1.410 Quantity: One Rinnai gas-fired tankless water heater at the kitchen History: The age of the heater was unavailable at the time of our inspection Condition: Reported satisfactory without operational deficiencies Water heater Useful Life: Up to 10 years Component Detail Notes: The tankless gas heater has an input capacity of 75-MBH (thousand British Thermal Units per hour) to generate hot water. Preventative Maintenance Notes: The status of preventative maintenance was unavailable to us during our inspection. We recommend the District obtain and adhere to the manufacturer's recommended maintenance plan. We also recommend the District maintain a maintenance contract with a qualified professional. The required preventative maintenance may vary in frequency and scope based on the unit’s age, operational condition, or changes in technology. We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Weekly: o Inspect for leaking water around heater o Check temperature readings o Verify vent is unobstructed o Conduct heater blowdown to minimize corrosion and remove suspended solids in system o Clean pilot and burner assemblies • Monthly: o Check water and pressure levels o Check controls and switches for proper operating o Check and inspect condensate drain o Check all gaskets for tight sealing Page 4.41 - Reserve Component Detail • Annually: o Conduct full inspection of heater and flues o Clean and inspect tubes to reduce scaling o Inspect any pressure relief valves o Inspect electrical terminals and controls Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Page 4.42 - Reserve Component Detail GOLF - Property Site Elements Furnishings, Outdoor Patio Line Items: 1.500 and 1.501 Quantity: The District maintains the following outdoor furnishings at the Clubhouse patio • Composite chairs and barstools (46) • Composite tables (9) History: Replaced in 2020 Condition: Good overall Barstools at outdoor seating area Composite high-top table and chairs Composite patio furniture at the Clubhouse Useful Life: 10- to 15-years Priority/Criticality: Per Management discretion Page 4.43 - Reserve Component Detail Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Page 4.44 - Reserve Component Detail GOLF - Golf Course Elements The following graphic depicts the approximate location of each bunker, green and tee area at the Viera East golf course: Page 4.45 - Reserve Component Detail Ball Machine, Driving Range Line Item: 1.600 Quantity: One Range Servant Ultima 8 golf ball dispenser History: Replaced in 2020 Condition: Reported in satisfactory condition Useful Life: Up to 20 years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our estimate of cost is based on information provided by the District. Ball Washer Line Item: 1.601 Quantity: One Easy Picker ball washing station History: Reportedly replaced in 2020 Condition: Reported in satisfactory condition. We note finish deterioration Ball washing station Useful Life: 10- to 15-years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Page 4.46 - Reserve Component Detail Bulkheads, Timber Line Items: 1.602 and 1.603 Quantity: Approximately 1,050 linear feet at the golf course ponds. The following graphic depicts the approximate location of each bulkhead, shown with orange highlighting: Page 4.47 - Reserve Component Detail History: Replaced between 2019 and 2020 Condition: Good to fair overall with minor erosion evident at the ends and backsides Erosion at backside of Hole 7 bulkhead Erosion at end of Hole 7 bulkhead Erosion at end of Hole 7 bulkhead Timber bulkhead near Clubhouse Timber bulkhead near Clubhouse Timber bulkhead overview Useful Life: Inspections and capital repairs every 15- to 20-years and complete replacement up to every 30 years Page 4.48 - Reserve Component Detail Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our cost for capital repairs includes allowances for a complete inspection and partial replacement of up to ten percent (10%), or approximately 105 linear feet, of the timber bulkheads. Bunkers Line Items: 1.604, 1.605 and 1.606 Quantity: The course currently features approximately 68 bunkers with a total area of approximately 152,000 square feet. This quantity includes approximately 72,000 square feet at the greenside bunkers and approximately 80,000 square feet at the fairway bunkers. Upon completion of the upcoming rebuild project, the total greenside bunker area will be reduced to approximately 36,000 square feet and at least one greenside bunker will be eliminated. History: The District is currently planning a greenside bunker rebuild project which will be completed through Reserves in Fiscal Year 2025. This project will involve a re-shaping of the greenside bunkers, a reduction in the total bunker area and replacement of the drainage systems. The District has historically handled rebuilding of the fairway bunkers on an as-needed basis. Condition: Reported in satisfactory condition. We note standing water after heavy rainfall throughout the course. Bunker overview Bunker with standing water after rain at Hole 1 Page 4.49 - Reserve Component Detail Bunker overview Useful Life: Rebuild up to every 20 years to maintain playability and the desired appearance of the course Component Detail Notes: The most common issues with bunkers are contaminated sands due to runoff, erosion and inadequate drainage. Renovation typically includes: • Proper sand selection • Internal drainage or liners • Proper edge material to ensure stable soil • Relocation, size and shape modifications as needed Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our estimate of cost and scope for near-term and subsequent greenside bunker rebuild projects is based on information provided by the District. Due to the varied ages of the fairway bunkers and the historical practice of performing maintenance on an as-needed basis, we depict phased rebuilding of up to twenty-five percent (25%), or approximately 20,000 square feet, of the total fairway bunker surface area per event. Concrete Cart Paths Line Item: 1.607 Quantity: Approximately 114,000 square feet of concrete cart paths connect the various tees and greens throughout the course Condition: Good to fair overall with cracks and previous partial replacement evident. We note tree root intrusion near the Hole 11 tee and undermining of soil at the Hole 18 tee. Page 4.50 - Reserve Component Detail Cart path near driving range Concrete cracks Previous partial replacement Significant tree root intrusion near hole 11 tee area Soil undermining cart path at graveled area Useful Life: Up to 65 years although interim deterioration of areas is common Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: Page 4.51 - Reserve Component Detail • Annually: o Inspect and repair major cracks, spalls and trip hazards o Mark with orange safety paint prior to replacement or repair o Repair or perform concrete leveling in areas in immediate need of repair or possible safety hazard Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. We estimate that up to 34,200 square feet of concrete sidewalks, or thirty percent (30%) of the total, will require replacement during the next 30 years. Greens Line Item: 1.608 Quantity: 18 course greens and 2 practice greens comprise a total surface area of approximately 87,600 square feet. History: Original with the benefit of interim rebuild projects performed on an as-needed basis. The District recently performed a no-till renovation which included replacement of the turf Condition: Reported in satisfactory condition Green at Hole 6 Green at Hole 18 Page 4.52 - Reserve Component Detail Green overview at Hole 17 Practice green area near Clubhouse Useful Life: Up to 30 years Component Detail Notes: Renovation of greens typically includes: • Proper turf selection • Replacement of sand-based root zone, and gravel and drainage layers • Modifications to shape and contour as needed Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Irrigation System, Controllers Line Item: 1.609 Quantity: Six major Toro Hub Station controllers. This quantity excludes the central computer, replacement of which is depicted in coordination with rebuilding of the Pump Station on Line Item 1.616. History: Replaced in 2022 Condition: Reported satisfactory without operational deficiencies Page 4.53 - Reserve Component Detail Irrigation system controller near Hole 6 Useful Life: Up to 15 years Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our estimate of cost is based on information provided by the District. Irrigation System, Pipes, Heads and Valves Line Items: 1.610 and 1.611 Quantity: Approximately 1,960 heads History: Replaced in 2022 Condition: Satisfactory operational condition and Management and the Board does not report any deficiencies Irrigation system control valve Irrigation system head near Clubhouse Page 4.54 - Reserve Component Detail Useful Life: Up to 30 years Component Detail Notes: Irrigation systems typically include the following components: • Electronic controls (timer) • Impact rotors • Network of supply pipes • Pop-up heads • Valves Viera East should anticipate interim and partial replacements of the system network supply pipes and other components as normal maintenance to maximize the useful life of the irrigation system. The District should fund these ongoing seasonal repairs through the operating budget. Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Semi-annually: o Conduct seasonal repairs which includes valve repairs, controller repairs, partial head replacements and pipe repairs Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our estimate of cost is based on information provided by the District. Irrigation System, Pump Station Line Item: 1.612 Quantity: One pump station located near the maintenance facility. The pump station comprises the following elements: • Three 60-HP (Horsepower) General Electric pumps • Pump controller and central computer History: Replaced in 2018 Condition: Reported satisfactory without operational deficiencies Page 4.55 - Reserve Component Detail General electric irrigation system pumps Irrigation system pump station Pump control system Useful Life: Up to 15 years Preventative Maintenance Notes: The status of preventative maintenance was unavailable to us during our inspection. We recommend the District obtain and adhere to the manufacturer's recommended maintenance plan. We also recommend the District maintain a maintenance contract with a qualified professional. The required preventative maintenance may vary in frequency and scope based on the unit’s age, operational condition, or changes in technology. Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Rest Room Buildings Line Items: 1.614, 1.615, 1.616 and 1.617 Quantities: The two rest room building exteriors comprise the following: Page 4.56 - Reserve Component Detail • Four louvered metal doors • Approximately eight squares of asphalt shingle roofs • Electrical systems (We recommend the District plan for replacement asneeded and fund those projects through the operating budget) • Louvers (Approximately 50 square feet; We recommend the District plan for replacement as-needed and fund those projects through the operating budget) • Paint finishes (Approximately 1,600 square feet) The four rest rooms comprise the following: • Approximately 90 square yards of tile floor coverings • Paint finishes • Plumbing fixtures • Light fixtures History: The age of the most recent renovation project was unavailable at the time of our inspection Condition: Fair overall. We note rust at the rest room doors Rest room building near Braywick Court Rest room door with rust evident Rest room overview Page 4.57 - Reserve Component Detail Useful Life: Up to 30 years for the doors, 12- to 18-years for the roofs, 4- to 6-years for exterior paint finishes and up to 25 years for renovation of the interiors. Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Tees Line Item: 1.618 Quantity: 18 primary tee areas, 35 alternate tee areas and the practice range tee area which comprise a total surface area of approximately 140,000 square feet. History: The age of the most recent tee renovation project was unavailable at the time of our inspection Condition: Reported in satisfactory condition Alternative tee area at Hole 1 Tee area at practice range Page 4.58 - Reserve Component Detail Tee area at Hole 1 Tee area at Hole 2 Tee area at Hole 18 Useful Life: Rebuild up to every 30 years Component Detail Notes: Renovation of tees typically includes: • Proper turf selection • Re-grading or laser leveling • Proper drainage • Replacement of sub-surface layers • Relocation and size modifications as needed Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Yardage and Hole Markers, Stone Line Item: 1.619 Page 4.59 - Reserve Component Detail Quantity: 18 stone monuments depict the approximate yardage and layout at each primary tee area History: Likely original to construction Condition: Good to fair overall with leaning markers and damage evident Damage to Hole 7 yardage marker Leaning marker at Hole 1 Yardage marker at Hole 2 Yardage marker at Hole 18 Useful Life: 25- to 35-years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. We recommend the District plan for interim resetting, repairs and detail paint finish applications and fund those projects through the operating budget. Page 4.60 - Reserve Component Detail GENERAL - Clubhouse Elements Computer Equipment, Workstations, Accounting Line Item: 2.100 Quantity: The General Fund maintains computer equipment at the offices for District accounting. The exact model or utilization of each piece of equipment was not ascertained as part of this investigation. We note that Pro Shop and golf course workstations are maintained through the Golf Reserve Fund and are excluded from this replacement costs. History: Replaced in 2020 Condition: Reported in satisfactory condition Useful Life: Up to 5 years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Furnishings Line Item: 2.101 Quantity: The General Fund maintains the furnishings inside the clubhouse offices. Furnishings and components in the offices include but are not limited to the following elements: • Desks • Chairs • Filing cabinets History: The age of the furniture was unavailable at the time of our inspection Condition: Good overall with no significant deterioration evident. Useful Life: Varies significantly up to 20 years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Page 4.61 - Reserve Component Detail GENERAL - Pond Elements Pond, Aerator, Woodside Park Line Item: 2.200 Quantity: One aerator at Woodside Park History: Replaced in 2022 Condition: Reported satisfactory Useful Life: 10- to 15-years Component Detail Notes: The use of small pumps, motors and aerators circulates pond water and increases the amount of entrained oxygen in the water, increasing water quality and reducing algae growths. Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our estimate of cost is based on information provided by the Association. Drainage Control Structures Line Item: 2.201 Quantity: Approximately 40 water level control structures throughout the district ponds History: Largely original to development Condition: Good overall Pond control structure near Woodside park Pond control structure Page 4.62 - Reserve Component Detail Useful Life: Indeterminate with the benefit of inspections and capital repairs performed up to every five years. Component Detail Notes: The District should anticipate the occasional displacement or failure of a control structure and related storm water piping from erosion. Left unrepaired, the entire control structure will shift and need replacement. Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our estimate of cost includes inspection of the concrete structures and repair or replacement of up to five control structures per event. Outflow Pipes, Mitered End Sections Line Item: 2.203 Quantity: Our investigation identified approximately 110 inlet/outlet pipes at the stormwater control structures. We note that some components lie below the surface of the water, making identification using satellite imagery difficult. History: Largely original to development Condition: Good to fair overall with cracks evident Overflow outlet structure Pond inlet structure Useful Life: Indeterminate with the benefit of capital repairs performed up to every five years. Component Detail Notes: The District should anticipate the occasional displacement or failure of storm water outlet piping from erosion. Left unrepaired, the entire pipe will shift and need replacement. Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our estimate of cost for capital repairs includes an allowance for inspection of the concrete structures and replacement or repair of up to five displaced or failed mitered end sections. Page 4.64 - Reserve Component Detail GENERAL - Property Site Elements Asphalt Pavement, Repaving Line Items: 2.300, 2.301 and 2.302 Quantity: Approximately 11,450 square yards at the Clubhouse parking area and access drive and approximately 1,950 square yards at Woodside Park. History: • Repaving: The Clubhouse parking area and access drive were repaved in 2023. The pavement at Woodside Park is likely original to development • Repairs: Repairs are historically performed on an as-needed basis. The District did not report performing pavement repairs at the Clubhouse parking area after repaving. The age of the most recent seal coat application at Woodside Park was unavailable at the time of our inspection Condition: The Clubhouse parking area is in good overall condition with no significant deterioration evident. We note minor raveling, and soil undermining and vehicle fluid stains. The Woodside Park parking area is in fair overall condition with frequent cracks, settlement, tree root intrusion and previous repairs evident. Pavement parking area overview at the Clubhouse Pavement raveling Soil undermining pavement at drainage area Vehicle fluid stains Asphalt pavement parking area overview at Woodside Park Evidence of historical seal coat application Evidence of previous attempted repair Evidence of tree root intrusion Page 4.66 - Reserve Component Detail Pavement cracks and settlement Useful Life: 15- to 20-years with the benefit of patch repairs and seal coat applications every three- to five-years Component Detail Notes: Proposals for seal coat applications should include crack repairs and patching. The contractor should only apply seal coat applications after repairs are completed. A seal coat does not bridge or close cracks, therefore, unrepaired cracks render the seal coat applications useless. The initial installation of asphalt uses at least two lifts, or two separate applications of asphalt, over the base course. The first lift is the binder course. The second lift is the wearing course. The wearing course comprises a finer aggregate for a smoother, more watertight finish. The following diagram depicts the typical components although it may not reflect the actual configuration at Viera East: The manner of repaving is either a mill and overlay or total replacement. A mill and overlay is a method of repaving where cracked, worn and failed pavement is mechanically removed or milled until sound pavement is found. A new layer of asphalt is overlaid atop the remaining base course of pavement. Total replacement includes the removal of all existing asphalt down to the base course of aggregate and native soil followed by the application of two or more new lifts of asphalt. We recommend mill and overlayment on asphalt pavement that exhibits normal deterioration and wear. We recommend total replacement of asphalt pavement that exhibits severe deterioration, inadequate drainage, pavement that has been overlaid multiple times in the past or where the configuration makes overlayment not possible. Based on the apparent visual condition and configuration of the asphalt pavement, we recommend the mill and overlay method of repaving at Viera East. Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Annually: o Inspect for settlement, large cracks and trip hazards, and ensure proper drainage o Repair areas which could cause vehicular damage such as potholes • As needed: o Perform crack repairs and patching Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our cost for repair includes an allowance for patching of up to two percent (2%) of the pavement. Our cost for milling and overlayment includes area patching of up to ten percent (10%). Bridges, Pedestrian, Recreation Lake Line Items: 2.303 and 2.304 Quantity: Two pedestrian bridges with a total horizontal surface area of approximately 1,250 square feet provide access to the island at the recreation lake near Suseda Park. The bridges comprise composite deck boards with wood railings and an underlying wood structure, and are supported by wood pilings. History: Constructed in 2004. The age of interim repairs and paint finish applications was unavailable at the time of our inspection Condition: Fair overall with evidence of previous partial decking replacement, thermal damage at decking, coating deterioration and wood rot evident. Page 4.68 - Reserve Component Detail Bridge overview Bridge structure overview Bridge with wood structure and railings and composite deck boards Evidence of previous partial replacement Fasteners detail Handrail coating deterioration Page 4.69 - Reserve Component Detail North bridge overview Railing finish deterioration Wood deterioration at stringer Useful Life: Replacement every 20- to 25-years with the benefit of interim paint finishes and capital repairs performed every six- to eight-years Component Detail Notes: Capital repairs may include: • Paint or sealer applications to wood components • Replacement of a limited quantity of decking • Replacement of a limited quantity of the wood structure and railings • Replacement of up to two pilings Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Catch Basins Line Item: 2.305 Page 4.70 - Reserve Component Detail Quantity: Five landscape catch basins2 at the clubhouse parking area History: Original to development Condition: Fair overall with settlement evident Landscape catch basin at clubhouse parking area Useful Life: The useful life of catch basins is up to 65 years. However, achieving this useful life usually requires interim capital repairs or partial replacements every 15- to 20- years. Component Detail Notes: Erosion causes settlement around the collar of catch basins. Left unrepaired, the entire catch basin will shift and need replacement. Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Annually: o Inspect and repair any settlement and collar cracks o Ensure proper drainage and inlets are free of debris o If property drainage is not adequate in heavy rainfall events, typically bi-annual cleaning of the catch basins is recommended Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Concrete Curbs and Gutters Line Items: 2.306 and 2.307 2 We utilize the terminology catch basin to refer to all storm water collection structures including curb inlets. Page 4.71 - Reserve Component Detail Quantity: Approximately 6,700 linear feet at the Clubhouse parking area and access drive and approximately 750 linear feet at Woodside Park Condition: Fair overall with cracks, tree root intrusion and upheaval evident Concrete crack with tree root upheaval at Woodside Park Concrete curb and gutter at Woodside Park Concrete curb upheaval at the Clubhouse parking area Concrete deterioration at Woodside Park Useful Life: Up to 65 years although interim deterioration of areas is common Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Annually: o Inspect and repair major cracks, spalls and trip hazards o Mark with orange safety paint prior to replacement or repair o Repair or perform concrete leveling in areas in immediate need of repair or possible safety hazard Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. We estimate that up to 1,340 linear feet of curbs and gutters at the Clubhouse parking area and access drive, or twenty percent (20%) of the total, will require replacement during the next 30 years. Due to the small quantity, we estimate that up to 600 linear feet of curbs and gutters at Woodside Park, or eighty percent (80%) of the total, will require replacement during the next 30 years. Concrete Sidewalks Line Items: 2.308 and 2.309 Quantity: Concrete sidewalks at the Clubhouse and Woodside Park comprise approximately 27,600 square feet of surface area. In addition, the District maintains nature trails throughout the development that comprise approximately 69,600 square feet of surface area. Condition: Fair overall with cracks, trip hazards and settlement throughout. Concrete cracks and trip hazards near playground Concrete sidewalk with cracks and trip hazards at Clubhouse Page 4.73 - Reserve Component Detail Evidence of previous repair at Woodside Park Sidewalk trip hazard Concrete crack Concrete overview at Viera nature trail Concrete settlement Concrete settlement Concrete sidewalk overview on island Concrete sidewalk with cracks and settlement near Fawn Ridge Concrete walking trail near Manchester Drive Concrete walking trail settlement Walking trail overview Useful Life: Up to 65 years although interim deterioration of areas is common Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Annually: o Inspect and repair major cracks, spalls and trip hazards o Mark with orange safety paint prior to replacement or repair o Repair or perform concrete leveling in areas in immediate need of repair or possible safety hazard Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. We estimate that up to 8,280 square feet of concrete sidewalks at the Clubhouse and Woodside Park, or thirty percent (30%) of the total, will require replacement during the next 30 years. Similarly, we estimate that up to 13,920 square feet of concrete sidewalks at the nature trails, or twenty percent (20%) of the total, will require replacement during the next 30 years. Light Poles and Fixtures, Clubhouse Parking Area Line Item: 2.310 Quantity: 12 fiberglass poles with 24 LED light fixtures at the Clubhouse parking area History: Largely original with the benefit of interim paint finish applications, repairs and the addition of two poles since development. Condition: Good to fair overall Fiberglass light pole with paint finishes Light pole with LED fixtures at the clubhouse parking area Useful Life: Up to 25 years Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: Page 4.76 - Reserve Component Detail • As-needed: o Inspect and repair broken or dislodged fixtures, and leaning or damaged poles o Replaced burned out bulbs as needed Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. GENERAL - Woodside Park Elements Bridges, Pedestrian, Playground and Dog Park Line Items: 2.400 and 2.401 Quantity: Approximately 200 square feet at three bridges History: Constructed in 2020 Condition: Good to fair overall with rust evident at fasteners Bridge at playground area Bridge structure Rust at fasteners Rust at visible screwheads at railings Page 4.78 - Reserve Component Detail Wood bridge at dog park Useful Life: 20- to 25-years with the benefit of interim decking replacement and structure repairs performed every 10- to 15-years Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our estimate of cost for interim repairs includes the following activities per event: • Inspection of the structures • Replacement of wood decking • Replacement of a limited quantity of wood railings • Replacement of a limited quantity of wood structure • Replacement of up to two pilings Dog Park Features Line Item: 2.402 Quantity: The dog park features include the following components: • Elevated dog house structures (3) • Tunnels with timber end sections (4; Approximately 32 linear feet) • Fire hydrants (4) • Low bridges (2; Approximately 16 square feet of horizontal surface area) History: Installed in 2020 Condition: Good to fair overall Page 4.79 - Reserve Component Detail Dog park features including tunnels, doghouse and fire hydrants Dog park features Tunnels underneath bridge Useful Life: Up to 10 years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Fences, Chain Link Line Item: 2.403 Quantity: Approximately 700 linear feet at the dog park History: Installed in 2020 Condition: Good to fair overall with rust evident at fasteners. We note warped webbing Page 4.80 - Reserve Component Detail Chain link fence at dog park with warped webbing Chain link fence Rust at fence hardware Warped webbing Useful Life: Up to 25 years Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Annually: o Inspect and repair loose sections, and damage o Repair leaning sections and clear vegetation from fence areas which could cause damage Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Fences, Wood, Split Rail Line Item: 2.404 Page 4.81 - Reserve Component Detail Quantity: Approximately 600 linear feet at the playground History: Installed in 2020 Condition: Good to fair overall with isolated missing rails Missing rails Wood split rail fence at playground area Wood split rail fence at playground Useful Life: Up to 20 years Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Annually: o Inspect and repair loose sections, and damage o Repair leaning sections and clear vegetation from fence areas which could cause damage Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. The District should anticipate periodic partial replacements funded through the operating budget due to the non-uniform nature of wood deterioration. Irrigation System, Pump Line Item: 2.405 Quantity: One five horsepower pump History: Installed in 2022 Condition: Reported satisfactory without operational deficiencies Useful Life: Up to 20 years Preventative Maintenance Notes: WeThe required preventative maintenance may vary in frequency and scope based on the unit’s age, operational condition, or changes in technology. Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our estimate of cost is based on information provided by the Association. Irrigation System, Replacement Line Item: 2.406 Quantity: 17 valves with 36 heads at Woodside Park History: Installed in 2022 Condition: Reported satisfactory Useful Life: Up to and sometimes beyond 30 years Component Detail Notes: Irrigation systems typically include the following components: • Electronic controls (timer) • Impact rotors • Network of supply pipes • Pop-up heads • Valves Viera East should anticipate interim and partial replacements of the system network supply pipes and other components as normal maintenance to maximize the useful life of the irrigation system. The Association should fund these ongoing seasonal repairs through the operating budget. Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Semi-annually: o Conduct seasonal repairs which includes valve repairs, controller repairs, partial head replacements and pipe repairs Playground Equipment o Line Item: 2.407 Blow out irrigation water lines and drain building exterior faucets each fall if applicable Quantity: Playground equipment includes the following elements: Priority/Criticality: Defer only upon opinion of independent professional or engineer • Expenditure Detail Notes: Expenditure timing and costs are depicted in the Slides Reserve Expenditures • table in Section 3. Our estimate of cost is based on information provided by the Association. Climbing area • • Wood and stone steps at slides Crawling tunnel with decorative façade • Safety surfaces with borders • Swing set History: Installed in 2020 Condition: Good overall Useful Life: 15- to 20-years Slides Ropes climbing area Swing set with wood safety surface and plastic border Rubberized safety surface Tunnel with decorative façade Component Detail Notes: Safety is the major purpose for maintaining playground equipment. We recommend an annual inspection of the playground equipment to identify and repair as normal maintenance loose connections and fasteners or damaged elements. We suggest the District learn more about the specific requirements of playground equipment at PlaygroundSafety.org. We recommend the use of a specialist for the design or replacement of the playground equipment environment. Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Annually: o Inspect and repair loose connections and fasteners or damaged elements o Inspect for safety hazards and adequate coverage of ground surface cover Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. We include an allowance in the unit cost for replacement of the safety surfaces and borders. Rest Room Building Line Items: 2.408, 2.409, 2.410 and 2.411 Quantity: The rest room building exterior comprises the following: • Two metal doors • Approximately eight squares of asphalt shingle roofing • Approximately 1,000 square feet of exterior paint finishes, including the patio ceiling • Electrical system (We recommend the District plan for replacement asneeded and fund those projects through the operating budget) • Security light fixtures (We recommend the District plan for replacement as-needed and fund those projects through the operating budget) The two rest rooms comprise the following: • Approximately 1,200 square feet of interior paint finishes at the floors, walls and ceilings • Plumbing fixtures • Light fixtures • Wood patio ceiling (Approximately 380 square feet) History: The age of the components was unavailable at the time of our inspection. It is likely that the rest rooms were renovated and the exterior was painted in 2020. Condition: The rest rooms are in good to fair overall condition. The exterior paint finishes are in fair overall condition with stains evident. The roof assembly is in fair to poor overall condition with discoloration evident. Asphalt shingle overview with discoloration at shingles and fascia board Shade Structures Paint finishes at concrete façade Rest room overview Wood ceiling at patio Useful Life: Up to 30 years for the doors, four- to six-years for exterior painting, up to 25 years for renovation of the rest rooms and 12- to 18-years for replacement of the roof Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our estimate of cost for renovation of the rest rooms includes replacement of the wood at the patio ceiling. Line Items: 2.412 and 2.413 Quantity: Nine shade structures provide a total coverage area of approximately 1,200 square feet at the dog park and playground History: The structures were installed in 2020 and no interim work was reported by Management. Condition: Good to fair overall with rust and stained canvas evident Rust at frame Shade structure with stained canvas Shade structure at dog park Useful Life: Up to 25 years with interim replacement of the canvas every six- to eightyears Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Shade structure at the dog park Reserve Expenditures table in Section 3. Site Furniture • Trash receptacles and dog waste stations (10) Line Item: 2.414 Quantity: The site furniture at Woodside Park includes the following: • Composite benches (14) • Composite picnic tables (4) Expenditure Detail Notes: Expenditure timing and costs are depicted in the Priority/Criticality: Per Management discretion Reserve Expenditures Composite Adirondack chairs (10) History: Installed in 2020 Dog waste station table in Section 3. Condition: Good overall Picnic table at the dog park Useful Life: 10- to 15-years • Adirondack chairs The maintenance facility is located at the southeast corner of the golf course and provides storage and repair facilities for Golf Course and District equipment, vehicles and supplies. Most maintenance facility expenditures are shared between the Golf Course and General Reserve funds, as described in the Cost Sharing section of each glossary. The following depicts an aerial view of the maintenance facility and building: Quantity: Approximately 4,600 square yards at the maintenance facility parking area History: The history of repaving and repairs was unavailable at the time of our inspection Condition: Fair overall with cracks and settlement evident Asphalt Pavement, Repaving Line Items: 3.100 and 3.101 GOLF and GENERAL - Maintenance Facility Elements Cost Sharing: The cost of ownership is internally shared between the Golf Course and General Reserve funds. The Golf Course Reserve is responsible for 67% and the General Reserve is responsible for 33% of the total cost of repair or repaving. Annually: • • Repair areas which could cause vehicular damage such as potholes o o Asphalt pavement at maintenance facility Standing water Inspect for settlement, large cracks and trip hazards, and ensure proper drainage Pavement cracks Useful Life: 15- to 20-years with the benefit of patch repairs and seal coat applications every three- to five-years Component Detail Notes: Proposals for seal coat applications should include crack repairs and patching. The contractor should only apply seal coat applications after repairs are completed. A seal coat does not bridge or close cracks, therefore, unrepaired cracks render the seal coat applications useless. Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: Pavement parking area overview As needed: o Perform crack repairs and patching Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our cost for repair includes an allowance for patching of up to two percent (2%) of the pavement. Our cost for milling and overlayment includes area patching of up to ten percent (10%). Carport, Irrigation Pump Station Line Item: 3.102 Cost Sharing: The cost of ownership of this element is the sole responsibility of the Golf Course Reserve fund and is not internally shared. Quantity: One carport structure at the irrigation pump station provides a total coverage area of approximately 450 square feet History: Installed in 2010 Condition: Good to fair overall Carport at irrigation system pump station Useful Lives: Up to 25 years with the benefit of paint finishes applied on an as-needed basis Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Carport, Vehicle and Equipment Storage Line Item: 3.103 Quantity: Approximately 7,100 square feet at the maintenance building floor, the equipment wash station and the irrigation pump station Cost Sharing: The cost of ownership is internally shared between the Golf Course and General Reserve funds. The Golf Course Reserve is responsible for 67% and the General Reserve is responsible for 33% of the total cost of repair or replacement. Cost Sharing: The cost of ownership is internally shared between the Golf Course and General Reserve funds. The Golf Course Reserve is responsible for 67% and the General Reserve is responsible for 33% of the total cost of repair or replacement. Quantity: One carport structure at the vehicle and equipment storage yard provides a total coverage area of approximately 600 square feet History: Installed in 2018 Condition: Good to fair overall Carport at storage yard Useful Lives: Up to 25 years with the benefit of paint finishes applied on an as-needed basis Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Concrete Flatwork Line Item: 3.104 Condition: Good to fair overall with cracks evident Concrete cracks Concrete cracks at wash station Concrete flatwork near pump station Useful Life: Up to 65 years although interim deterioration of areas is common Concrete parking surface at maintenance building Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Annually: o Inspect and repair major cracks, spalls and trip hazards o Mark with orange safety paint prior to replacement or repair Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures o table in Section 3. We estimate that up to 2,850 square feet of concrete flatwork, or forty percent (40.1%) of the total, will require replacement during the next 30 years. Repair or perform concrete leveling in areas in immediate need of repair or possible safety hazard Fences, Chain Link Priority/Criticality: Per Management discretion Line Item: 3.105 Cost Sharing: The cost of ownership is internally shared between the Golf Course and General Reserve funds. The Golf Course Reserve is responsible for 67% and the General Reserve is responsible for 33% of the total cost of repair or replacement. Quantity: Approximately 1,050 linear feet at the perimeter of the maintenance facility History: The age of the fences was unavailable at the time of our inspection Condition: Good to fair overall with finish deterioration and disconnected components evident. Chain link perimeter fence at maintenance facility Disconnected section Rear gate at maintenance facility with finish deterioration Rolling gate at maintenance facility Useful Life: Up to 25 years Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Annually: o Inspect and repair loose sections, and damage o Repair leaning sections and clear vegetation from fence areas which could cause damage Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our estimate of cost includes an allowance for replacement of the rolling gate at the main entrance and the swinging gate at the rear entrance. Fertilizer Building Line Items: 3.106, 3.107, 3.108, 3.109 and 3.110 Cost Sharing: The cost of ownership of these fertilizer building elements is the sole responsibility of the Golf Course Reserve fund and is not internally shared. Quantity: The fertilizer building comprises the following elements: One rolling overhead door • One metal utility door with louvers • One exhaust fan of unknown capacity Approximately 1,850 square feet of metal siding and roofing • Approximately 520 square feet of exposed metal framing • Security lighting (We recommend the District plan for replacement asneeded and fund those projects through the operating budget) • • • Electrical systems (We recommend the District plan for replacement asneeded and fund those projects through the operating budget) History: The age of the components was unavailable at the time of our inspection. The District did not report recent repairs or paint finish applications. Conditions: The utility and overhead doors appear in good to fair overall condition with paint finish deterioration evident. The exhaust fan was in operation at the time of our inspection and Management did not report any deficiencies. The metal framing, siding and roofing is in fair overall condition with rust evident. Utility door Exhaust fan Fertilizer building Fertilizer building overview Rolling door Rust Useful Lives: The overhead door has a useful life of up to 25 years with proper maintenance, and the utility door has a useful life of up to 30 years. The exhaust fan has a useful life of up to 20 years although interim component replacement may be required. The metal roof and siding has a useful life of up to 45 years with the benefit of paint finish applications performed every 8- to 10-years Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Light Poles and Fixtures Line Item: 3.111 Cost Sharing: The cost of ownership is internally shared between the Golf Course and General Reserve funds. The Golf Course Reserve is responsible for 67% and the General Reserve is responsible for 33% of the total cost of repair or replacement. Quantity: 10 concrete poles with LED light fixtures at the maintenance facility yard History: The poles are likely original to construction. The age of the LED fixtures was unavailable at the time of our inspection Condition: Good to fair overall Light pole with LED fixture Useful Life: Up to 25 years Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • As-needed: o Inspect and repair broken or dislodged fixtures, and leaning or damaged poles o Replaced burned out bulbs as needed Priority/Criticality: Per Board discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Material Storage Bins Line Item: 3.112 Cost Sharing: The cost of ownership of this element is the sole responsibility of the Golf Course Reserve fund and is not internally shared. Quantity: Three concrete storage bins at the maintenance yard for storage of golf course maintenance materials including sand, gravel and soil History: Likely original to construction Condition: Fair overall with concrete cracks and spalled concrete Material storage bins Useful Life: Up to 40 years Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Storage Shed Line Item: 3.113 Cost Sharing: The cost of ownership of this element is the sole responsibility of the General Reserve fund and is not internally shared Quantity: One storage shed comprises a total area of approximately 200 square feet History: The age of the shed was unavailable at the time of our inspection Condition: Good to fair overall. We note organic growth at the metal siding Storage shed Useful Life: Up to 30 years with the benefit of timely repairs performed on an as-needed basis Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Tanks Line Items: 3.114 and 3.115 Cost Sharing: The cost of ownership is internally shared between the Golf Course and General Reserve funds. The Golf Course Reserve is responsible for 67% and the General Reserve is responsible for 33% of the total cost of repair or replacement. Quantity: Two 1,000-Gallon fuel storage tanks for gasoline and diesel and one oil separation tank of unknown capacity. History: Likely original to construction Condition: Reported in satisfactory condition Gasoline, diesel fuel and oil separation storage tanks Useful Life: Up to 20 years Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. GOLF and GENERAL - Maintenance Building Elements The maintenance building is located within the maintenance facility and provides storage and repair facilities for Golf Course and District equipment, vehicles and supplies. Most maintenance building expenditures are shared between the Golf Course and General Reserve funds, as described in the Cost Sharing section of each glossary. Maintenance building exterior overview Air Handling and Condensing Units, Split System Line Item: 3.200 Cost Sharing: The cost of ownership is internally shared between the Golf Course and General Reserve funds. The Golf Course Reserve is responsible for 67% and the General Reserve is responsible for 33% of the total cost of repair or replacement. Quantity: One Trane split system at the maintenance building office area History: Replaced in 2021 Condition: Reported satisfactory without operational deficiencies Split system condensing unit at maintenance building Useful Life: 10- to 15-years Component Detail Notes: A split system air conditioner consists of an outside condensing unit, an interior evaporator coil, refrigerant lines and an interior air handling unit. The condensing unit has a cooling capacity of 2.5-tons. The split system uses R- 410A refrigerant. Preventative Maintenance Notes: The status of preventative maintenance was unavailable to us during our inspection. We recommend the Association obtain and adhere to the manufacturer's recommended maintenance plan. We also recommend the Association maintain a maintenance contract with a qualified professional. The required preventative maintenance may vary in frequency and scope based on the unit’s age, operational condition, or changes in technology. We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Semi-annually: o Lubricate motors and bearings o Change or clean air filters as needed o Inspect condenser base and piping insulation o Inspect base pan, coil, cabinet and clear obstructions as necessary • Annually: o Clean coils and drain pans, clean fan assembly, check refrigerant charge, inspect fan drive system and controls o Inspect and clean accessible ductwork as needed o Clean debris from inside cabinet, inspect condenser compressor and associated tubing for damage Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. The condensing unit may require replacement prior to replacement of the related interior forced air unit. For purposes of this Reserve Study, we assume coordination of replacement of the interior forced air unit, evaporator coil, refrigerant lines and exterior condensing unit. Doors, Overhead Line Item: 3.201 Cost Sharing: The cost of ownership is internally shared between the Golf Course and General Reserve funds. The Golf Course Reserve is responsible for 67% and the General Reserve is responsible for 33% of the total cost of repair or replacement. Quantity: Eight metal overhead doors at the maintenance shop and fertilizer storage room at the main structure. This quantity does not include the door at the freestanding fertilizer building. History: The entrance and exit doors are likely original to construction with the benefit of paint finish applications and repairs performed on an as-needed basis. Condition: Good to fair overall with no significant visible deterioration Rolling door at attached fertilizer storage room Rolling door at maintenance shop Useful Life: Up to 25 years Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Annually: o Inspect and repair any damage, base corrosion or alignment issues o Replace deteriorated hardware and loose weather stripping o Periodic touch-up paint finish applications as needed Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Ice Machine Line Item: 3.202 Cost Sharing: The cost of ownership is internally shared between the Golf Course and General Reserve funds. The Golf Course Reserve is responsible for 67% and the General Reserve is responsible for 33% of the total cost of repair or replacement. Quantity: One Manitowoc ice machine in the maintenance shop History: The age of the ice machine was unavailable at the time of our inspection Condition: Reported in satisfactory condition Ice machine at maintenance building Useful Life: Up to 15 years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Interior Renovations Line Items: 3.203 and 3.204 Cost Sharing: The cost of ownership is internally shared between the Golf Course and General Reserve funds. The Golf Course Reserve is responsible for 67% and the General Reserve is responsible for 33% of the total cost of repair or replacement. Quantity: The maintenance building interior components include: • Approximately 600 square feet of vinyl tile floor coverings • Approximately 1,300 square feet of ceramic tile floor and wall coverings • Approximately 600 square feet of acoustical ceiling tiles and grid • Plumbing fixtures Line Item: 3.205 and 3.206 • • Lockers • Light fixtures • Furnishings • Break room cabinets, countertops, and appliances • Paint finishes • Interior doors • Life safety system including control panel, emergency devices and light fixtures and exit signage History: Original to construction with the benefit of paint finishes and repairs performed on an as-needed basis Condition: Good to fair overall Replacement of up to fifty percent (50%) of the life safety system equipment. Hallway overview Rest room and lockers Useful Life: Complete renovation up to every 30 years and partial renovation every 8- to 12-years Priority/Criticality: Per Management discretion Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. The complete renovation should include replacement of all components listed above and the partial renovations should include the following: • Metal Frame, Roof and Siding Application of paint finishes • Replacement of up to fifty percent (50%) of the appliances and furnishings Page 4.106 - Reserve Component Detail Cost Sharing: The cost of ownership is internally shared between the Golf Course and General Reserve funds. The Golf Course Reserve is responsible for 67% and the General Reserve is responsible for 33% of the total cost of repair or replacement. Quantity: Approximately 18,600 square feet of metal siding and roofing at the main maintenance building. The building also features an additional 5,300 square feet of exposed metal structural framing at the soffits and interior supports, and approximately 540 linear feet of commercial-style metal gutters and downspouts. History: Original with the benefit of paint finishes performed on an as-needed basis. The age of the most recent paint finish application project was unavailable at the time of our inspection Condition: Fair overall with rust and partial siding replacements evident. Management does not report significant roof leaks Evidence of partial replacement Metal siding at maintenance building Steel frame at maintenance building interior Structural steel frame with rust evident Useful Life: Replacement of the roof and siding up to every 45 years with the benefit of interim paint finishes and repairs every 8- to 10 years. The useful life of the structural steel frame is indeterminate with proper maintenance. Page 4.107 - Reserve Component Detail Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Our estimate of cost for replacement of the roof and siding includes an allowance for replacement of the adjacent gutters and downspouts. Windows and Doors Line Item: 3.207 Cost Sharing: The cost of ownership is internally shared between the Golf Course and General Reserve funds. The Golf Course Reserve is responsible for 67% and the General Reserve is responsible for 33% of the total cost of repair or replacement. Quantity: Approximately 225 square feet at the maintenance offices and fertilizer room History: Likely original to construction Condition: Good overall with no visible deterioration. We note minor finish deterioration at the entrance door. Windows and doors at maintenance office Useful Life: Up to 40 years Preventative Maintenance Notes: We note the following select recommended preventative maintenance activities to maximize the remaining useful life: • Annually: o Inspect and repair loose weather stripping and/or lock damage o Inspect for broken glass and damaged screens o Record instances of water infiltration, trapped moisture or leaks • As-needed: o Verify weep holes are unobstructed and not blocked with dirt or sealant, if applicable Page 4.108 - Reserve Component Detail o Replace damaged or deteriorated sliding glass rollers, if applicable Priority/Criticality: Defer only upon opinion of independent professional or engineer Expenditure Detail Notes: Expenditure timing and costs are depicted in the Reserve Expenditures table in Section 3. Page 4.109 - Reserve Component Detail GOLF and GENERAL - Maintenance Equipment Viera East Community Development District maintains numerous pieces of maintenance equipment to maintain the ponds, wetlands, conservation areas and golf course. We identify 14 elements maintained by the Golf Course Reserve fund, 13 elements maintained by the General Reserve fund, and two elements internally shared between the two. For internally shared elements, the Golf Course Reserve is responsible for 67% and the General Reserve is responsible for 33% of the total cost of repair or replacement. Specific discussion of each piece of equipment is beyond the scope of this analysis. We have evaluated the conditions of the equipment with the District Manager and incorporated history information where available. Replacement costs, quantities and ages are estimated based on insurance information provided by the District. The actual times and costs of replacement may vary from the included estimations. However, we judge the amounts depicted on Line Items 4.100 through 4.147 sufficient to budget appropriate Reserves for the CDD and Golf Course maintenance equipment. Future updates to this Reserve Study will continue to monitor the rate of utilization, deterioration and replacement of each element and will adjust Reserve funding recommendation accordingly to continue to maintain adequate Reserves. Toro workman Utility vehicle Utility vehicles Volvo EC 25 excavator Page 4.110 - Reserve Component Detail Forks Grapple and buckets Vermeer chipper Caterpillar skid steer loaders Self-propelled sprayer Case 580K tractor Page 4.111 - Reserve Component Detail Ford 5030 tractor Kubota tractor Kubota tractor Kubota tractor Maintenance vehicle Caterpillar wheel loader Page 4.112 - Reserve Component Detail Reserve Study Update An ongoing review by the Manager and an Update of this Reserve Study are necessary to ensure an equitable funding plan since a Reserve Study is a snapshot in time. Many variables change after the study is conducted that may result in significant overfunding or underfunding the reserve account. Variables that may affect the Reserve Funding Plan include, but are not limited to: • Deferred or accelerated capital projects based on Management discretion • Changes in the interest rates on reserve investments • Changes in the local construction inflation rate • Additions and deletions to the Reserve Component Inventory • The presence or absence of maintenance programs • Unusually mild or extreme weather conditions • Technological advancements Periodic updates incorporate these variable changes since the last Reserve Study or Update. The District can expense the fee for an Update with site visit from the reserve account. This fee is included in the Reserve Funding Plan. We base this budgetary amount on updating the same property components and quantities of this Reserve Study report. We recommend Management budget for an Update to this Reserve Study every three years. Budgeting for an Update demonstrates the District’s objective to continue fulfilling its fiduciary responsibility to maintain the commonly owned property and to fund Reserves appropriately. Page 5.1 - Methodology 5. METHODOLOGY Reserves for replacement are the amounts of money required for future expenditures to repair or replace Reserve Components that wear out before the entire facility or project wears out. Reserving funds for future repair or replacement of the Reserve Components is also one of the most reliable ways of protecting the value of the property’s infrastructure and marketability. Viera East can fund capital repairs and replacements in any combination of the following: 1. Increases in the operating budget during years when the shortages occur 2. Loans using borrowed capital for major replacement projects 3. Level monthly reserve assessments annually adjusted upward for inflation to increase reserves to fund the expected major future expenditures 4. Special assessments We do not advocate special assessments or loans unless near term circumstances dictate otherwise. Although loans provide a gradual method of funding a replacement, the costs are higher than if the District were to accumulate reserves ahead of the actual replacement. Interest earnings on reserves also accumulate in this process of saving or reserving for future replacements, thereby defraying the amount of gradual reserve collections. We advocate the third method of Level Monthly Reserve Assessments with relatively minor annual adjustments. The method ensures that Owners pay their "fair share" of the weathering and aging of the commonly owned property each year. Level reserve assessments preserve the property and enhance the resale value of the homes. This Reserve Study is in compliance with and exceeds the National standards1 set forth by the Association of Professional Reserve Analysts (APRA) fulfilling the requirements of a “Level II Reserve Study Update.” These standards require a Reserve Component to have a “predictable remaining Useful Life.” Estimating Remaining Useful Lives and Reserve Expenditures beyond 30 years is often indeterminate. Long-Lived Property Elements are necessarily excluded from this analysis. We considered the following factors in our analysis: • The Cash Flow Method to compute, project and illustrate the 30-year Reserve Funding Plan • Local2 costs of material, equipment and labor • Current and future costs of replacement for the Reserve Components • Costs of demolition as part of the cost of replacement • Local economic conditions and a historical perspective to arrive at our estimate of long-term future inflation for construction costs in Rockledge, Florida at an annual inflation rate3. Isolated or regional markets of greater 1 Identified in the APRA “Standards - Terms and Definitions” and the CAI "Terms and Definitions". 2 See Credentials for additional information on our use of published sources of cost data. 3 Derived from Marshall & Swift, historical costs and the Bureau of Labor Statistics. Page 5.2 - Methodology construction (development) activity may experience slightly greater rates of inflation for both construction materials and labor. • The past and current maintenance practices of Viera East and their effects on remaining useful lives • Financial information provided by the District pertaining to the cash status of the reserve fund and budgeted reserve contribution • The anticipated effects of appreciation of the reserves over time in accord with a return or yield on investment of your cash equivalent assets. (We did not consider the costs, if any, of Federal and State Taxes on income derived from interest and/or dividend income). • The Funding Plan excludes necessary operating budget expenditures. It is our understanding that future operating budgets will provide for the ongoing normal maintenance of Reserve Components. Updates to this Reserve Study will continue to monitor historical facts and trends concerning the external market conditions. Page 6.1 - Credentials 6. CREDENTIALS HISTORY AND DEPTH OF SERVICE Founded in 1991, Reserve Advisors is the leading provider of reserve studies, insurance appraisals, developer turnover transition studies, expert witness services, and other engineering consulting services. Clients include community associations, resort properties, hotels, clubs, nonprofit organizations, apartment building owners, religious and educational institutions, and office/commercial building owners in 48 states, Canada and throughout the world. The architectural engineering consulting firm was formed to take a leadership role in helping fiduciaries, boards, and property managers manage their property like a business with a long-range master plan known as a Reserve Study. Reserve Advisors employs the largest staff of Reserve Specialists with bachelor’s degrees in engineering dedicated to Reserve Study services. Our founders are also founders of Community Associations Institute's (CAI) Reserve Committee that developed national standards for reserve study providers. One of our founders is a Past President of the Association of Professional Reserve Analysts (APRA). Our vast experience with a variety of building types and ages, on-site examination and historical analyses are keys to determining accurate remaining useful life estimates of building components. No Conflict of Interest - As consulting specialists, our independent opinion eliminates any real or perceived conflict of interest because we do not conduct or manage capital projects. TOTAL STAFF INVOLVEMENT Several staff members participate in each assignment. The responsible advisor involves the staff through a Team Review, exclusive to Reserve Advisors, and by utilizing the experience of other staff members, each of whom has served hundreds of clients. We conduct Team Reviews, an internal quality assurance review of each assignment, including: the inspection; building component costing; lifing; and technical report phases of the assignment. Due to our extensive experience with building components, we do not have a need to utilize subcontractors. OUR GOAL To help our clients fulfill their fiduciary responsibilities to maintain property in good condition. VAST EXPERIENCE WITH A VARIETY OF BUILDINGS Reserve Advisors has conducted reserve studies for a multitude of different communities and building types. We've analyzed thousands of buildings, from as small as a 3,500-square foot day care center to a 2,600,000-square foot 98-story highrise. We also routinely inspect buildings with various types of mechanical systems such as simple electric heat, to complex systems with air handlers, chillers, boilers, elevators, and life safety and security systems. We're familiar with all types of building exteriors as well. Our well-versed staff regularly identifies optimal repair and replacement solutions for such building exterior surfaces such as adobe, brick, stone, concrete, stucco, EIFS, wood products, stained glass and aluminum siding, and window wall systems. OLD TO NEW Reserve Advisors’ experience includes ornate and vintage buildings as well as modern structures. Our specialists are no strangers to older buildings. We're accustomed to addressing the unique challenges posed by buildings that date to the 1800's. We recognize and consider the methods of construction employed into our analysis. We recommend appropriate replacement programs that apply cost effective technologies while maintaining a building's character and appeal. Page 6.2 - Credentials JARED W. KELLEY, E.I. Responsible Advisor CURRENT CLIENT SERVICES Jared Kelley, a Mechanical Engineer, is an Advisor for Reserve Advisors. Mr. Kelley is responsible for the inspection and analysis of the condition of clients' properties and recommending engineering solutions to prolong the lives of the components. He also forecasts capital expenditures for the repair and/or replacement of the property components and prepares technical reports on assignments. He is responsible for conducting Life Cycle Cost Analyses and Capital Replacement Forecast services and the preparation of Reserve Study Reports for condominiums, townhomes and homeowner associations. The following is a partial list of clients served by Jared Kelley demonstrating his breadth of experiential knowledge of community associations in construction and related buildings systems. 7 Patton Avenue – Located in the heart of downtown Asheville, this North Carolina high rise is home to 54 condominium residences and a luxury hotel. Originally constructed in 1965, the building underwent extensive re-development between 2016 and 2019. The Association is responsible for the plumbing, electrical, and life safety systems as well as the decorative building exterior. The property also features a detached 3-story garage for use by the residents and hotel guests Clarcona Resort – This co-operative condominium Association in Apopka Florida is responsible for the common elements shared by 792 units. The community contains a recreation hall, a large pool and six comfort station buildings with rest rooms, showers and laundry facilities. The Association also maintains a wastewater treatment facility and provides domestic water service to the residents. University Downs – This large Condominium Association in Tuscaloosa Alabama is responsible for the common elements shared by 272 units in 13 story buildings. The Association maintains an extensive clubhouse and three resort-style pools in conjunction with the neighboring apartment complex. The Jackson Yacht Club – Located in Ridgeland, Mississippi, this historic Club provides members access to a multi-story clubhouse with a restaurant and bar, an event space and a large competition swimming pool. Founded in 1960 and rebuilt in 2001, the Club also maintains an extensive marina, boat ramps and a youth sailing center on the Ross R. Barnett Reservoir. Avea Pointe – This townhome development is located in Lutz, Florida. An expansive community consisting of 29 buildings, Avea Pointe maintains the building exteriors as well as a modern pool amenity area. The Association is also responsible for landscaping, irrigation and multiple ponds. Deer Creek Village – This large development is located in Orlando Florida and is responsible for the common elements shared by 553 single family homes. The Association maintains a clubhouse with a kitchen and multiple event spaces, a pool and pool house, tennis and basketball courts, a large playground and multiple common parks and green spaces throughout the community. PRIOR RELEVANT EXPERIENCE Before joining Reserve Advisors, Mr. Kelley earned his Bachelor of Science degree in Mechanical Engineering from The University of Central Florida. His relevant coursework included mechanical systems, materials science, computer aided design, and HVAC systems engineering. EDUCATION University of Central Florida - B.S. Mechanical Engineering PROFESSIONAL AFFILIATIONS / DESIGNATIONS Engineering Intern (E.I.) – Florida, 2023-present Page 6.3 - Credentials TAMARA S. SAMHOURI, E.I., RS Southeast Quality Assurance Engineer CURRENT CLIENT SERVICES Tamara Samhouri, a Civil Engineer, is an Advisor for Reserve Advisors. Mrs. Samhouri is responsible for the inspection and analysis of the condition of clients' properties, and recommending engineering solutions to prolong the lives of the components. She also forecasts capital expenditures for the repair and/or replacement of the property components and prepares technical reports on assignments. She is responsible for conducting Life Cycle Cost Analyses and Capital Replacement Forecast services and the preparation of Reserve Study Reports for condominiums, townhomes and homeowner associations. The following is a partial list of clients served by Tamara Samhouri demonstrating her breadth of experiential knowledge of community associations in construction and related buildings systems. North Lake at Tarpon Springs Homeowners Association Located in Tarpon Springs, Florida, this single family development consists of 122 homes built in 1999. The Association maintains the asphalt pavement street systems, ponds, gates, signage, & a boardwalk and dock assembly. Talon Bay Property Owners Association This Homeowners Association located in North Port, Florida is comprised of 233 single unit homes. The clubhouse in this community includes a fitness center, kitchen, rest rooms, and a patio leading to a pool deck. The clubhouse and gate house were constructed with stucco façade and a metal roof assembly. The Association maintains asphalt pavement street systems, tennis and shuffleboard courts, and gates. Lake Highlander Resident Owned Association This Cooperative style development located in Dunedin, Florida is comprised of 293 homes built in the 1960s. The community maintains amenities, such as a laundry room, pool hall, library, office, and clubhouse. The Cooperative maintains the subsurface pipes, electric meter panels, and bridges throughout the community. Royal Pointe at Majestic Palms Recreation Association and Condominium Associations The Recreation Association is responsible for the elements shared by five condominium buildings. The Recreation Association maintains the pool amenities & asphalt pavement street systems. The Condominium Associations are responsible for their building exteriors comprised of concrete tile roofs, balconies, breezeways, & staircases. The Condominium Associations maintain the building service elements, including life safety systems, & domestic water pumps. PRIOR RELEVANT EXPERIENCE Before joining Reserve Advisors, Mrs. Samhouri successfully completed the bachelors program in Civil Engineering from The University of South Florida. She has experience as a Transportation Planning Intern at AECOM, the world's premier infrastructure consulting firm, where she gained knowledge on the safety and design of specialized roadway networks. Mrs. Samhouri has an expertise in transportation and geotechnical engineering infrastructure. EDUCATION University of South Florida - B.S. Civil Engineering PROFESSIONAL AFFILIATIONS / DESIGNATIONS Engineering Intern (E.I.) – Florida, 2021-present American Society of Civil Engineers (A.S.C.E.) – Florida, 2015-present Institute of Transportation Engineers (I.T.E.) – Florida, 2015-present Reserve Specialist (RS) - Community Association Institute (CAI) Page 6.4 - Credentials ALAN M. EBERT, P.E., PRA, RS Director of Quality Assurance CURRENT CLIENT SERVICES Alan M. Ebert, a Professional Engineer, is the Director of Quality Assurance for Reserve Advisors. Mr. Ebert is responsible for the management, review and quality assurance of reserve studies. In this role, he assumes the responsibility of stringent report review analysis to assure report accuracy and the best solution for Reserve Advisors’ clients. Mr. Ebert has been involved with thousands of Reserve Study assignments. The following is a partial list of clients served by Alan Ebert demonstrating his breadth of experiential knowledge of community associations in construction and related buildings systems. Brownsville Winter Haven Located in Brownsville, Texas, this unique homeowners association contains 525 units. The Association maintains three pools and pool houses, a community and management office, landscape and maintenance equipment, and nine irrigation canals with associated infrastructure. Rosemont Condominiums This unique condominium is located in Alexandria, Virginia and dates to the 1940's. The two mid-rise buildings utilize decorative stone and brick masonry. The development features common interior spaces, multi-level wood balconies and common asphalt parking areas. Stillwater Homeowners Association Located in Naperville, Illinois, Stillwater Homeowners Association maintains four tennis courts, an Olympic sized pool and an upscale ballroom with commercial-grade kitchen. The community also maintains three storm water retention ponds and a detention basin. Birchfield Community Services Association This extensive Association comprises seven separate parcels which include 505 townhome and single family homes. This Community Services Association is located in Mt. Laurel, New Jersey. Three lakes, a pool, a clubhouse and management office, wood carports, aluminum siding, and asphalt shingle roofs are a few of the elements maintained by the Association. Oakridge Manor Condominium Association Located in Londonderry, New Hampshire, this Association includes 104 units at 13 buildings. In addition to extensive roads and parking areas, the Association maintains a large septic system and significant concrete retaining walls. Memorial Lofts Homeowners Association This upscale high rise is located in Houston, Texas. The 20 luxury units include large balconies and decorative interior hallways. The 10-story building utilizes a painted stucco facade and TPO roof, while an on-grade garage serves residents and guests. PRIOR RELEVANT EXPERIENCE Mr. Ebert earned his Bachelor of Science degree in Geological Engineering from the University of Wisconsin-Madison. His relevant course work includes foundations, retaining walls, and slope stability. Before joining Reserve Advisors, Mr. Ebert was an oilfield engineer and tested and evaluated hundreds of oil and gas wells throughout North America. EDUCATION University of Wisconsin-Madison - B.S. Geological Engineering PROFESSIONAL AFFILIATIONS/DESIGNATIONS Professional Engineering License – Wisconsin, North Carolina, Illinois, Colorado Reserve Specialist (RS) - Community Associations Institute Professional Reserve Analyst (PRA) - Association of Professional Reserve Analysts Page 6.5 - Credentials RESOURCES Reserve Advisors utilizes numerous resources of national and local data to conduct its Professional Services. A concise list of several of these resources follows: Association of Construction Inspectors, (ACI) the largest professional organization for those involved in construction inspection and construction project management. ACI is also the leading association providing standards, guidelines, regulations, education, training, and professional recognition in a field that has quickly become important procedure for both residential and commercial construction, found on the web at www.iami.org. American Society of Heating, Refrigerating and Air-Conditioning Engineers, Inc., (ASHRAE) the American Society of Heating, Refrigerating and Air-Conditioning Engineers, Inc., devoted to the arts and sciences of heating, ventilation, air conditioning and refrigeration; recognized as the foremost, authoritative, timely and responsive source of technical and educational information, standards and guidelines, found on the web at www.ashrae.org. Reserve Advisors actively participates in its local chapter and holds individual memberships. Community Associations Institute, (CAI) America's leading advocate for responsible communities noted as the only national organization dedicated to fostering vibrant, responsive, competent community associations. Their mission is to assist community associations in promoting harmony, community, and responsible leadership. Marshall & Swift / Boeckh, (MS/B) the worldwide provider of building cost data, co-sourcing solutions, and estimating technology for the property and casualty insurance industry found on the web at www.marshallswift.com. R.S. Means CostWorks, North America's leading supplier of construction cost information. As a member of the Construction Market Data Group, Means provides accurate and up-to-date cost information that helps owners, developers, architects, engineers, contractors and others to carefully and precisely project and control the cost of both new building construction and renovation projects found on the web at www.rsmeans.com. Reserve Advisors’ library of numerous periodicals relating to reserve studies, condition analyses, chapter community associations, and historical costs from thousands of capital repair and replacement projects, and product literature from manufacturers of building products and building systems. Page 7.1 - Definitions 7. DEFINITIONS Definitions are derived from the standards set forth by the Community Associations Institute (CAI) representing America's 305,000 condominium and homeowners associations and cooperatives, and the Association of Professional Reserve Analysts, setting the standards of care for reserve study practitioners. Cash Flow Method - A method of calculating Reserve Contributions where contributions to the reserve fund are designed to offset the variable annual expenditures from the reserve fund. Different Reserve Funding Plans are tested against the anticipated schedule of reserve expenses until the desired funding goal is achieved. Component Method - A method of developing a Reserve Funding Plan with the total contribution is based on the sum of the contributions for individual components. Current Cost of Replacement - That amount required today derived from the quantity of a Reserve Component and its unit cost to replace or repair a Reserve Component using the most current technology and construction materials, duplicating the productive utility of the existing property at current local market prices for materials, labor and manufactured equipment, contractors' overhead, profit and fees, but without provisions for building permits, overtime, bonuses for labor or premiums for material and equipment. We include removal and disposal costs where applicable. Fully Funded Balance - The Reserve balance that is in direct proportion to the fraction of life "used up" of the current Repair or Replacement cost similar to Total Accrued Depreciation. Funding Goal (Threshold) - The stated purpose of this Reserve Study is to determine the adequate, not excessive, minimal threshold reserve balances. Future Cost of Replacement - Reserve Expenditure derived from the inflated current cost of replacement or current cost of replacement as defined above, with consideration given to the effects of inflation on local market rates for materials, labor and equipment. Long-Lived Property Component - Property component of Viera East responsibility not likely to require capital repair or replacement during the next 30 years with an unpredictable remaining Useful Life beyond the next 30 years. Percent Funded - The ratio, at a particular point of time (typically the beginning of the Fiscal Year), of the actual (or projected) Reserve Balance to the Fully Funded Balance, expressed as a percentage. Remaining Useful Life - The estimated remaining functional or useful time in years of a Reserve Component based on its age, condition and maintenance. Reserve Component - Property elements with: 1) Viera East responsibility; 2) limited Useful Life expectancies; 3) predictable Remaining Useful Life expectancies; and 4) a replacement cost above a minimum threshold. Reserve Component Inventory - Line Items in Reserve Expenditures that identify a Reserve Component. Reserve Contribution - An amount of money set aside or Reserve Assessment contributed to a Reserve Fund for future Reserve Expenditures to repair or replace Reserve Components. Reserve Expenditure - Future Cost of Replacement of a Reserve Component. Reserve Fund Status - The accumulated amount of reserves in dollars at a given point in time, i.e., at year end. Reserve Funding Plan - The portion of the Reserve Study identifying the Cash Flow Analysis and containing the recommended Reserve Contributions and projected annual expenditures, interest earned and reserve balances. Reserve Study - A budget planning tool that identifies the current status of the reserve fund and a stable and equitable Funding Plan to offset the anticipated future major common area expenditures. Useful Life - The anticipated total time in years that a Reserve Component is expected to serve its intended function in its present application or installation. Page 8.1 – Professional Service Conditions 8. PROFESSIONAL SERVICE CONDITIONS Our Services - Reserve Advisors, LLC (“RA”) performs its services as an independent contractor in accordance with our professional practice standards and its compensation is not contingent upon our conclusions. The purpose of our reserve study is to provide a budget planning tool that identifies the current status of the reserve fund, and an opinion recommending an annual funding plan, to create reserves for anticipated future replacement expenditures of the subject property. The purpose of our energy benchmarking services is to track, collect and summarize the subject property’s energy consumption over time for your use in comparison with other buildings of similar size and establishing a performance baseline for your planning of long-term energy efficiency goals. Our inspection and analysis of the subject property is limited to visual observations, is noninvasive and is not meant to nor does it include investigation into statutory, regulatory or code compliance. RA inspects sloped roofs from the ground and inspects flat roofs where safe access (stairs or ladder permanently attached to the structure) is available. Our energy benchmarking services with respect to the subject property is limited to collecting energy and utility data and summarizing such data in the form of an Energy Star Portfolio Manager Report or any other similar report, and hereby expressly excludes any recommendations with respect to the results of such energy benchmarking services or the accuracy of the energy information obtained from utility companies and other third-party sources with respect to the subject property. The reserve report and any energy benchmarking report (i.e., any Energy Star Portfolio Manager Report) (including any subsequent revisions thereto pursuant to the terms hereof, collectively, the “Report”) are based upon a “snapshot in time” at the moment of inspection. RA may note visible physical defects in the Report. The inspection is made by employees generally familiar with real estate and building construction. Except to the extent readily apparent to RA, RA cannot and shall not opine on the structural integrity of or other physical defects in the property under any circumstances. Without limitation to the foregoing, RA cannot and shall not opine on, nor is RA responsible for, the property’s conformity to specific governmental code requirements for fire, building, earthquake, occupancy or otherwise. RA is not responsible for conditions that have changed between the time of inspection and the issuance of the Report. RA does not provide invasive testing on any mechanical systems that provide energy to the property, nor can RA opine on any system components that are not easily accessible during the inspection. RA does not investigate, nor assume any responsibility for any existence or impact of any hazardous materials, such as asbestos, ureaformaldehyde foam insulation, other chemicals, toxic wastes, environmental mold or other potentially hazardous materials or structural defects that are latent or hidden defects which may or may not be present on or within the property. RA does not make any soil analysis or geological study as part of its services, nor does RA investigate vapor, water, oil, gas, coal, or other subsurface mineral and use rights or such hidden conditions, and RA assumes no responsibility for any such conditions. The Report contains opinions of estimated replacement costs or deferred maintenance expenses and remaining useful lives, which are neither a guarantee of the actual costs or expenses of replacement or deferred maintenance nor a guarantee of remaining useful lives of any property element. RA assumes, without independent verification, the accuracy of all data provided to it. Except to the extent resulting from RA’s willful misconduct in connection with the performance of its obligations under this agreement, you agree to indemnify, defend, and hold RA and its affiliates, officers, managers, employees, agents, successors and assigns (each, an “RA Party”) harmless from and against (and promptly reimburse each RA Party for) any and all losses, claims, actions, demands, judgments, orders, damages, expenses or liabilities, including, without limitation, reasonable attorneys' fees, asserted against or to which any RA Party may become subject in connection with this engagement, including, without limitation, as a result of any false, misleading or incomplete information which RA relied upon that was supplied by you or others under your direction, or which may result from any improper use or reliance on the Report by you or third parties under your control or direction or to whom you provided the Report. NOTWITHSTANDING ANY OTHER PROVISION HEREIN TO THE CONTRARY, THE AGGREGATE LIABILITY (IF ANY) OF RA WITH RESPECT TO THIS AGREEMENT AND RA’S OBLIGATIONS HEREUNDER IS LIMITED TO THE AMOUNT OF THE FEES ACTUALLY RECEIVED BY RA FROM YOU FOR THE SERVICES AND REPORT PERFORMED BY RA UNDER THIS AGREEMENT, WHETHER ARISING IN CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY OR OTHERWISE. YOUR REMEDIES SET FORTH HEREIN ARE EXCLUSIVE AND ARE YOUR SOLE REMEDIES FOR ANY FAILURE OF RA TO COMPLY WITH ITS OBLIGATIONS HEREUNDER OR OTHERWISE. RA SHALL NOT BE LIABLE FOR ANY SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, ANY LOST PROFITS AND LOST SAVINGS, LOSS OF USE OR INTERRUPTION OF BUSINESS, HOWEVER CAUSED, WHETHER ARISING IN CONTRACT, TORT (INCLUDING NEGLIGENCE), BREACH OF WARRANTY, STRICT LIABILITY OR OTHERWISE, EVEN IF RA HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT WILL RA BE LIABLE FOR THE COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES. RA DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES WHATSOEVER, EXPRESS OR IMPLIED OR OF ANY NATURE, WITH REGARD TO THE SERVICES AND THE REPORT, INCLUDING, WITHOUT LIMITATION, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Report - RA will complete the services in accordance with the Proposal. The Report represents a valid opinion of RA’s findings and recommendations with respect to the reserve study and is deemed complete. RA will consider any additional information made available to RA within 6 months of issuing the Report and issue a revised Report based on such additional information if a timely request for a revised Report is made by you. RA retains the right to withhold a revised Report if payment for services was not tendered in a timely manner. All information received by RA and all files, work papers or documents developed by RA during the course of the engagement shall remain the property of Page 8.2 – Professional Service Conditions RA and may be used for whatever purpose it sees fit. RA reserves the right to, and you acknowledge and agree that RA may, use any data provided by you in connection with the services, or gathered as a result of providing such services, including in connection with creating and issuing any Report, in a de-identified and aggregated form for RA’s business purposes. Your Obligations - You agree to provide us access to the subject property for an inspection. You agree to provide RA all available, historical and budgetary information, the governing documents, and other information that we request and deem necessary to complete the Report. Additionally, you agree to provide historical replacement schedules, utility bills and historical energy usage files that RA requests and deems necessary to complete the energy benchmarking services, and you agree to provide any utility release(s) reasonably requested by RA permitting RA to obtain any such data and/or information from any utility representative or other third party. You agree to pay actual attorneys’ fees and any other costs incurred to collect on any unpaid balance for RA’s services. Use of Our Report and Your Name - Use of the Report is limited to only the purpose stated herein. You acknowledge that RA is the exclusive owner of all intellectual property rights in and relating to the Report. You hereby acknowledge that any use or reliance by you on the Report for any unauthorized purpose is at your own risk and that you will be liable for the consequences of any unauthorized use or distribution of the Report. Use or possession of the Report by any unauthorized third party is prohibited. The Report in whole or in part is not and cannot be used as a design specification for design engineering purposes or as an appraisal. You may show the Report in its entirety to the following third parties: members of your organization (including your directors, officers, tenants and prospective purchasers), your accountants, attorneys, financial institutions and property managers who need to review the information contained herein, and any other third party who has a right to inspect the Report under applicable law including, but not limited, to any government entity or agency, or any utility companies. Without the written consent of RA, you shall not disclose the Report to any other third party. By engaging our services, you agree that the Report contains intellectual property developed (and owned solely) by RA and agree that you will not reproduce or distribute the Report to any party that conducts reserve studies without the written consent of RA. RA will include (and you hereby agree that RA may include) your name in our client lists. RA reserves the right to use (and you hereby agree that RA may use) property information to obtain estimates of replacement costs, useful life of property elements or otherwise as RA, in its sole discretion, deems appropriate. Payment Terms, Due Dates and Interest Charges - If reserve study and energy benchmarking services are performed by RA, then the retainer payment is due upon execution of this agreement and prior to the inspection by RA, and any balance is due net 30 days from the Report shipment date. If only energy benchmarking services are performed by RA, then the retainer payment is due upon execution of this agreement and any balance is due net 30 days from the Report shipment date. In any case, any balance remaining 30 days after delivery of the Report shall accrue an interest charge of 1.5% per month. Unless this agreement is earlier terminated by RA in the event you breach or otherwise fail to comply with your obligations under this agreement, RA’s obligations under this agreement shall commence on the date you execute and deliver this agreement and terminate on the date that is 6 months from the date of delivery of the Report by RA. Notwithstanding anything herein to the contrary, each provision that by its context and nature should survive the expiration or early termination of this agreement shall so survive, including, without limitation, any provisions with respect to payment, intellectual property rights, limitations of liability and governing law. We reserve the right to limit or decline refunds in our sole discretion. Refunds vary based on the applicable facts and circumstances. Miscellaneous – Neither party shall be liable for any failures or delays in performance due to fire, flood, strike or other labor difficulty, act of God, act of any governmental authority, riot, embargo, fuel or energy shortage, pandemic, wrecks or delays in transportation, or due to any other cause beyond such party’s reasonable control; provided, however, that you shall not be relieved from your obligations to make any payment(s) to RA as and when due hereunder. In the event of a delay in performance due to any such cause, the time for completion or date of delivery will be extended by a period of time reasonably necessary to overcome the effect of such delay. You may not assign or otherwise transfer this agreement, in whole or in part, without the prior written consent of RA. RA may freely assign or otherwise transfer this agreement, in whole or in part, without your prior consent. This agreement shall be governed by the laws of the State of Wisconsin without regard to any principles of conflicts of law that would apply the laws of another jurisdiction. Any dispute with respect to this agreement shall be exclusively venued in Milwaukee County Circuit Court or in the United States District Court for the Eastern District of Wisconsin. Each party hereto agrees and hereby waives the right to a trial by jury in any action, proceeding or claim brought by or on behalf of the parties hereto with respect to any matter related to this agreement. Viera East Community Development Districy Check Register Summary May 16, 2025 through June 19, 2025 Fund Date Check #'s Amount General Fund 5/22/25 5455-5466 3,071.72 $ 5/29/25 5467-5469 $ 5 84.86 06/05/25 5470-5473 $ 1 5,032.18 6/12/25 5474-5477 $ 9 22.76 6/19/25 5478-5483 $ 1 4,333.10 Sub-Total $ 33,944.62 Capital Reserve - - $ - Sub-Total $ - Golf Course 5/22/25 32620-32639 $ 1 7,621.75 5/29/25 32640-32657 $ 3 1,869.83 06/05/25 32658-32676 $ 2 6,073.29 6/12/25 32677-32700 $ 2 9,528.55 6/19/25 32701-32715 $ 1 0,178.42 Sub-Total $ 115,271.84 Total $ 149,216.46 Viera East Community Development District Unaudited Financial Reporting May 31, 2025 A picture containing text Description automatically generated Table of Contents 1 Balance Sheet 2-4 General Fund 5-7 Month to Month - General Fund 8 Assessment Receipt Schedule 9-16 17-22 Golf Course, Pro Shop & Restaurant Month to Month - Golf Course, Pro Shop & Restaurant 23 Capital Reserve 24 25 Capital Reserve Check Register Debt Service Series 2020 26 Capital Projects Series 2020 Viera East Community Development District Combined Balance Sheet May 31, 2025 General Fund Capital Reserve Fund Debt Service Fund Capital Projects Fund Golf Course/ Recreation Fund Totals Governmental Funds Assets Cash Operating Account Capital Reserve Account Assessments Receivable Accounts Receivable Due from Capital Projects Due from Capital Reserve Due from Golf Course Due from General Fund Due from Other Prepaid Expenses Inventory - Pro Shop Inventory - Hook & Eagle Investments State Board of Administration Series 2012 Reserve Benefit Assessment Bond Service Recreation Fees Prepaid Expenses - Debt Series 2020 Reserve Temporary Interest Bond Service Project Improvements (Net of Depreciation) 159,072 $ $ - $ - $ - $ - $ - $ 394 $ - $ - $ 13,201 $ - $ - $ - $ 299,131 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 2,334 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 706,181 $ - $ - $ 4,516 $ - $ - $ - $ 1 6,722 $ 1 7,018 $ 124,522 $ 5 2,341 $ 3 6,254 $ 865,253 $ 299,131 $ - $ 4 ,516 $ - $ - $ 394 $ 19,056 $ 17,018 $ 137,723 $ 52,341 $ 36,254 $ 6 12,240 $ 1,098,032 $ - $ - $ 301,679 $ 2,011,951 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 282,162 $ 4 2,168 $ 6,473 $ 8 2,537 $ 173,333 $ 282,162 $ 42,168 $ 6 ,473 $ 82,537 $ 173,333 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 2 36,297 $ 95 $ 1 20,508 $ - $ - $ - $ - $ - $ 64,607 $ - $ - $ - $ - $ - $ 1,779,589 $ 236,297 $ 95 $ 120,508 $ 64,607 $ 1,779,589 Total Assets Liabilities Accounts Payable Accrued Expenses Deferred Revenue - Season Advance Deferred Revenue - Special Assessment O&M Deferred Revenue - Special Assessment Debt Due to General Fund Due to Golf Course Due to Debt Service Due to Capital Reserve Accrued Interest Payable Accrued Principal Payable Accrued Payroll Payable Notes Payable Sales Tax Payable Event Deposits Bonds Payable - Series 2012 Bond Discount Deferred Loss $ 784,907 $ 1 ,397,163 $ 359,234 $ 64,607 $ 3,625,496 $ 6,231,406 $ 4,156 $ 9,990 $ - $ - $ - $ - $ 16,722 $ 2,334 $ - $ - $ - $ 15,643 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 3 6,774 $ 550 $ 5 0,027 $ 6,080 $ 179,519 $ 394 $ - $ - $ - $ 4,438 $ - $ 4 7,895 $ 766,826 $ 2 9,223 $ (15,361) $ 1,065,000 $ (4,294) $ (35,353) $ 40,930 $ 10,540 $ 50,027 $ 6 ,080 $ 179,519 $ 394 $ 16,722 $ 2 ,334 $ - $ 4 ,438 $ - $ 63,538 $ 766,826 $ 29,223 $ (15,361) $ 1,065,000 $ (4,294) $ (35,353) Total Liabilites $ 48,844 $ - $ - $ - $ 2,131,720 $ 2,180,564 Fund Balance Nonspendable Prepaid Items Restricted for Debt Service - Series 2020 Capital Projects - Series 2020 Assigned for Capital Reserves Unassigned $ 13,201 $ - $ - $ - $ - $ 13,201 $ - $ - $ - $ - $ 3 59,234 $ - $ - $ 64,607 $ - $ - $ 359,234 $ 64,607 $ - $ 7 22,862 $ 1,397,163 $ - $ - $ - $ - $ - $ - $ 1,493,777 $ 1,397,163 $ 2,216,639 Total Fund Balances $ 736,063 $ 1 ,397,163 $ 359,234 $ 64,607 $ 1,493,777 $ 4,050,842 Total Liabilities & Fund Balance $ 7 84,907 $ 1,397,163 $ 3 59,234 $ 64,607 $ 3,625,496 $ 6,231,406 Viera East Community Development District General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending May 31, 2025 Adopted Budget Prorated Budget Thru 05/31/25 Actual Thru 05/31/25 Variance Revenues Maintenance Assessments 1,378,973 $ Golf Course Administrative Services $ 5 6,280 Donations for Park Materials $ 5,000 Miscellaneous Revenue - Marketing $ 2 0,000 Interest Income $ 100 $ 1,361,737 $ 3 7,520 $ 3,333 $ 1 3,333 $ 67 $ 1,361,737 $ 3 7,520 $ - $ 7,049 $ 1 2,241 $ - $ 0 $ (3,333) $ (6,285) $ 12,174 Total Revenues $ 1,460,353 $ 1,415,990 $1,418,546 $ 2,556 Expenditures General & Administrative Supervisors Fees $ 3 0,519 $ 2 0,346 $ 1 6,225 $ 4,121 Engineering Fees $ 5,000 $ 3,333 $ - $ 3,333 Attorney's Fees $ 2 0,000 $ 1 3,333 $ 2,988 $ 10,346 Dissemination $ 1,050 $ 700 $ 700 $ - Trustee Fees $ 5,600 $ 3,733 $ 2,694 $ 1,040 Annual Audit $ 1 4,000 $ 9,333 $ 9,774 $ ( 440) Collection Agent $ 2,500 $ 1,667 $ - $ 1,667 Management Fees $ 115,242 $ 7 6,828 $ 7 6,828 $ - Postage $ 2,000 $ 1,333 $ 10 $ 1,323 Printing & Binding $ 2,500 $ 1,667 $ 263 $ 1,404 Insurance - Liability $ 1 5,229 $ 1 0,153 $ 6,507 $ 3,646 Legal Advertising $ 2,500 $ 1,667 $ 299 $ 1,368 Other Current Charges $ 1,200 $ 800 $ 192 $ 608 Office Supplies $ 2,000 $ 1,333 $ 103 $ 1,230 Dues & Licenses $ 175 $ 175 $ 175 $ - Information Technology $ 4,735 $ 3,157 $ 3,157 $ 0 Total General & Administrative $ 224,250 $ 149,558 $ 119,914 $ 29,644 Viera East Community Development District General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending May 31, 2025 Adopted Budget Prorated Budget Thru 05/31/25 Actual Thru 05/31/25 Variance Operations & Maintenance Operating Expenditures Salaries 178,500 $ Administration Fee $ 1,436 FICA Expense $ 1 4,155 Health Insurance $ 5,000 Workers Compensation $ 3,790 Unemployment $ 1,119 Retirement Contribution $ 5,061 Other Contractual $ 1 0,000 Marketing - Lifestyle/Amenities $ 9 5,000 Training $ 500 $ 119,000 $ 957 $ 9,437 $ 3,333 $ 2,527 $ 746 $ 3,374 $ 6,667 $ 6 3,333 $ 333 $ 118,562 $ 1,568 $ 9,070 $ 930 $ 1,798 $ 610 $ - $ 5,040 $ 5 8,379 $ - $ 438 $ ( 610) $ 367 $ 2,403 $ 729 $ 136 $ 3,374 $ 1,626 $ 4,954 $ 333 Subtotal Field Expenditures $ 314,561 $ 209,707 $ 195,957 $ 13,750 Maintenance Expenditures Canal Maintenance $ 1 4,000 Lake Bank Restoration $ 164,000 Lake Bank Education Project $ 3,000 Environmental Services $ 1 0,000 Water Management System $ 134,248 Midge Control $ 8,000 Contingencies $ 1 0,000 Fire Line Management $ 3,500 Basin Repair $ 3,000 $ 9,333 $ 109,333 $ 2,000 $ 6,667 $ 8 9,499 $ 5,333 $ 6,667 $ 2,333 $ 2,000 $ - $ 170,620 $ - $ - $ 7 8,788 $ - $ 450 $ 1,895 $ - $ 9,333 $ (61,287) $ 2,000 $ 6,667 $ 10,710 $ 5,333 $ 6,217 $ 438 $ 2,000 Subtotal Maintenance Expenditures $ 349,748 $ 233,165 $ 251,754 $ (18,588) Viera East Community Development District General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending May 31, 2025 Adopted Budget Prorated Budget Thru 05/31/25 Actual Thru 05/31/25 Variance Grounds Maintenance Expenditures Salaries 232,730 $ Bonus Program $ - Administrative Fees $ 2,840 FICA $ 1 9,787 Health Insurance $ 3 2,893 Workers Compensation $ 4,942 Unemployment $ 2,608 Retirement Contribution $ 6,682 Telephone $ 1 5,660 Utilities $ 1 5,000 Property Appraiser $ 1,990 Insurance - Property $ 3,344 Repairs $ 2 5,000 Fuel $ 2 1,000 Park Maintenance $ 4 5,000 Sidewalk Repair $ 1 5,000 Chemicals $ 4,000 Contingencies $ 1 0,000 Refuse $ 1 2,000 Office Supplies $ - Uniforms $ 4,000 Fire Alarm System $ 7,500 Rain Bird Pump System $ 2 8,041 Park Materials $ 1 0,000 Bay Hill Flow Way Maintenance $ 2 0,000 $ 155,153 $ - $ 1,893 $ 1 3,191 $ 2 1,929 $ 3,295 $ 1,739 $ 4,455 $ 1 0,440 $ 1 0,000 $ 1,327 $ 2,229 $ 1 6,667 $ 1 4,000 $ 3 0,000 $ 1 0,000 $ 2,667 $ 6,667 $ 8,000 $ - $ 2,667 $ 5,000 $ 1 8,694 $ 6,667 $ 1 3,333 $ 136,972 $ 5 9,814 $ 1,413 $ 1 0,478 $ 2 0,697 $ 2,297 $ 1,251 $ - $ 6,080 $ 4,016 $ 2,391 $ 2,424 $ 2 5,042 $ 9,906 $ 2 0,276 $ - $ 1,611 $ 1 4,731 $ 1 1,332 $ 1,411 $ 1,042 $ 270 $ 9,194 $ 262 $ - $ 18,181 $ (59,814) $ 480 $ 2,713 $ 1,231 $ 998 $ 487 $ 4,455 $ 4,360 $ 5,984 $ (1,064) $ ( 195) $ (8,375) $ 4,094 $ 9,724 $ 10,000 $ 1,056 $ (8,065) $ (3,332) $ (1,411) $ 1,625 $ 4,730 $ 9,500 $ 6,405 $ 13,333 Subtotal Grounds Maintenance Exp. $ 540,017 $ 360,011 $ 342,910 $ 17,101 Total Operations & Maintenance $ 1,204,326 $ 802,884 $ 790,621 $ 12,263 Total Expenditures $ 1,428,576 $ 952,442 $ 910,535 $ 41,907 Excess (Deficiency) of Revenues over Exp. $ 3 1,777 $ 508,011 Other Financing Sources/(Uses): Transfer In/(Out) - Capital Reserve $ (31,777) $ (31,777) $ (31,777) $ - Total Other Financing Sources/(Uses) $ (31,777) $ (31,777) $ (31,777) $ - Net Change in Fund Balance $ (0) $ 476,234 Fund Balance - Beginning $ - $ 259,828 Fund Balance - Ending $ (0) $ 736,063 Viera East Community Development District Month to Month - General Fund Oct Nov Dec Jan Feb March April May June July Aug Sept Total Revenues Maintenance Assessments - $ $ 396,554 $ 836,923 $ 59,657 $ 16,072 $ 10,242 $ 37,381 $ 4 ,909 $ - $ - $ - $ - $ 1 ,361,737 Golf Course Administrative Services $ 4 ,690 $ 4 ,690 $ 4 ,690 $ 4 ,690 $ 4,690 $ 4,690 $ 4 ,690 $ 4 ,690 $ - $ - $ - $ - $ 3 7,520 Donations for Park Materials $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Misc. Revenue - Marketing $ - $ - $ - $ 5 ,593 $ 626 $ 74 $ - $ 757 $ - $ - $ - $ - $ 7,049 Interest Income $ - $ - $ - $ 1 ,408 $ 2,614 $ 2,886 $ 2 ,790 $ 2 ,542 $ - $ - $ - $ - $ 1 2,241 Total Revenues $ 4,690 $ 401,244 $ 841,613 $ 71,348 $ 2 4,002 $ 1 7,891 $ 44,861 $ 12,897 $ - $ - $ - $ - $ 1,418,546 Expenditures General & Administrative Supervisors Fees $ 1 ,288 $ 2 ,417 $ 2 ,191 $ 2 ,467 $ 2,210 $ 2,417 $ 2 ,191 $ 1 ,044 $ - $ - $ - $ - $ 1 6,225 Engineering Fees $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Attorney's Fees $ 2 ,988 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 2,988 Dissemination $ 8 8 $ 8 8 $ 8 8 $ 8 8 $ 88 $ 88 $ 8 8 $ 8 8 $ - $ - $ - $ - $ 7 00 Trustee Fees $ 337 $ 337 $ 337 $ 337 $ 337 $ 337 $ 337 $ 337 $ - $ - $ - $ - $ 2,694 Annual Audit $ 1 ,222 $ 1 ,222 $ 1 ,222 $ 1 ,222 $ 1,222 $ 1,222 $ 1 ,222 $ 1 ,222 $ - $ - $ - $ - $ 9,774 Collection Agent $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Management Fees $ 9 ,604 $ 9 ,604 $ 9 ,604 $ 9 ,604 $ 9,604 $ 9,604 $ 9 ,604 $ 9 ,604 $ - $ - $ - $ - $ 7 6,828 Postage $ 1 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 10 Printing & Binding $ 4 $ 6 $ 103 $ 5 $ 13 $ 42 $ 5 1 $ 4 0 $ - $ - $ - $ - $ 2 63 Insurance - Liability $ 813 $ 813 $ 813 $ 813 $ 813 $ 813 $ 813 $ 813 $ - $ - $ - $ - $ 6,507 Legal Advertising $ 299 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 2 99 Other Current Charges $ 2 5 $ 2 7 $ 3 1 $ - $ 11 $ 35 $ 3 1 $ 3 4 $ - $ - $ - $ - $ 1 92 Office Supplies $ 103 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 1 03 Dues & Licenses $ 175 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 1 75 Information Technology $ 395 $ 395 $ 395 $ 395 $ 395 $ 395 $ 395 $ 395 $ - $ - $ - $ - $ 3,157 Total General & Administrative $ 17,350 $ 14,907 $ 14,782 $ 14,929 $ 1 4,691 $ 1 4,950 $ 14,730 $ 13,576 $ - $ - $ - $ - $ 119,914 Operations & Maintenance Operating Expenditures Salaries $ 14,769 $ 14,384 $ 14,864 $ 14,864 $ 13,425 $ 15,175 $ 15,168 $ 15,914 $ - $ - $ - $ - $ 118,562 Administration Fee $ 103 $ 9 9 $ 955 $ 9 5 $ 103 $ 72 $ 6 9 $ 7 2 $ - $ - $ - $ - $ 1,568 FICA Expense $ 1 ,130 $ 1 ,100 $ 1 ,137 $ 1 ,137 $ 1,027 $ 1,161 $ 1 ,160 $ 1 ,217 $ - $ - $ - $ - $ 9,070 Viera East Community Development District Month to Month - General Fund Oct Nov Dec Jan Feb March April May June July Aug Sept Total Operating Expenditures Continued Health Insurance 167 $ $ 108 $ 109 $ 109 $ 109 $ 109 $ 109 $ 109 $ - $ - $ - $ - $ 9 30 Workers Compensation $ 6 8 $ 317 $ 235 $ 235 $ 212 $ 240 $ 240 $ 251 $ - $ - $ - $ - $ 1,798 Unemployment $ 106 $ - $ 242 $ 242 $ 21 $ - $ - $ - $ - $ - $ - $ - $ 6 10 Retirement Contribution $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Other Contractual $ 611 $ 704 $ 608 $ 608 $ 611 $ 611 $ 631 $ 655 $ - $ - $ - $ - $ 5,040 Marketing - Lifestyle/Amenities $ 10,450 $ 4 ,629 $ 10,637 $ 5 ,454 $ 8,322 $ 4,178 $ 6 ,078 $ 8 ,631 $ - $ - $ - $ - $ 5 8,379 Training $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Subtotal Operating Exp. $ 27,404 $ 21,342 $ 28,787 $ 22,744 $ 2 3,830 $ 2 1,546 $ 23,456 $ 26,850 $ - $ - $ - $ - $ 195,957 Maintenance Expenditures Canal Maintenance $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Lake Bank Restoration $ - $ - $ - $ 68,248 $ 102,372 $ - $ - $ - $ - $ - $ - $ - $ 170,620 Lake Bank Education Project $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Environmental Services $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Water Management System $ 10,464 $ 11,124 $ 12,244 $ 10,684 $ 10,904 $ 12,904 $ 10,464 $ - $ - $ - $ - $ - $ 7 8,788 Midge Control $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Contingencies $ - $ - $ - $ - $ 200 $ 100 $ 100 $ 5 0 $ - $ - $ - $ - $ 4 50 Fire Line Management $ - $ 800 $ 211 $ 150 $ 600 $ 135 $ - $ - $ - $ - $ - $ - $ 1,895 Basin Repair $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Subtotal Maintenance Exp. $ 10,464 $ 11,924 $ 12,455 $ 79,082 $ 114,076 $ 1 3,139 $ 10,564 $ 50 $ - $ - $ - $ - $ 251,754 Grounds Maintenance Expenditures Salaries $ 17,090 $ 17,235 $ 17,718 $ 17,743 $ 15,127 $ 17,295 $ 16,612 $ 18,152 $ - $ - $ - $ - $ 136,972 Bonus Program $ - $ 59,814 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 5 9,814 Administrative Fees $ 179 $ 173 $ 179 $ 159 $ 190 $ 179 $ 173 $ 181 $ - $ - $ - $ - $ 1,413 FICA $ 1 ,307 $ 1 ,318 $ 1 ,355 $ 1 ,357 $ 1,157 $ 1,323 $ 1 ,271 $ 1 ,389 $ - $ - $ - $ - $ 1 0,478 Health Insurance $ 2 ,351 $ 2 ,351 $ 2 ,969 $ 2 ,605 $ 2,605 $ 2,605 $ 2 ,605 $ 2 ,605 $ - $ - $ - $ - $ 2 0,697 Workers Compensation $ 270 $ 400 $ 280 $ 280 $ 244 $ 273 $ 262 $ 287 $ - $ - $ - $ - $ 2,297 Unemployment $ - $ - $ 290 $ 610 $ 216 $ 52 $ 4 1 $ 4 3 $ - $ - $ - $ - $ 1,251 Retirement Contribution $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Telephone $ 909 $ 643 $ 1 ,128 $ 634 $ 635 $ 860 $ 635 $ 636 $ - $ - $ - $ - $ 6,080 Utilities $ - $ 540 $ 7 5 $ 310 $ 785 $ 1,626 $ 320 $ 359 $ - $ - $ - $ - $ 4,016 Property Appraiser $ - $ - $ 2 ,391 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 2,391 Insurance - Property $ 303 $ 303 $ 303 $ 303 $ 303 $ 303 $ 303 $ 303 $ - $ - $ - $ - $ 2,424 Repairs $ 2 ,676 $ 10,116 $ 883 $ 673 $ 294 $ 9,210 $ 928 $ 261 $ - $ - $ - $ - $ 2 5,042 Fuel $ 1 ,350 $ 889 $ 1 ,409 $ 1 ,447 $ 1,239 $ 1,363 $ 1 ,069 $ 1 ,139 $ - $ - $ - $ - $ 9,906 Viera East Community Development District Month to Month - General Fund Oct Nov Dec Jan Feb March April May June July Aug Sept Total Grounds Maintenance Exp. Continued Park Maintenance 489 $ $ 2 ,458 $ 3 ,966 $ 1 ,962 $ 2,113 $ 3,148 $ 3 ,229 $ 2 ,910 $ - $ - $ - $ - $ 2 0,276 Sidewalk Repair $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Chemicals $ - $ 564 $ - $ - $ - $ - $ 1 ,047 $ - $ - $ - $ - $ - $ 1,611 Contingencies $ 250 $ 5 ,000 $ 3 ,152 $ - $ - $ 850 $ 3 ,300 $ 2 ,179 $ - $ - $ - $ - $ 1 4,731 Refuse $ 3 ,356 $ 615 $ 1 ,174 $ 1 ,243 $ 1,249 $ 2,415 $ 1 ,281 $ - $ - $ - $ - $ - $ 1 1,332 Office Supplies $ - $ 945 $ 467 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 1,411 Uniforms $ 312 $ (201) $ 229 $ 285 $ 139 $ - $ - $ 279 $ - $ - $ - $ - $ 1,042 Fire Alarm System $ 270 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 2 70 Rain Bird Pump System $ 2 ,298 $ 2 ,298 $ 2 ,298 $ 2 ,298 $ - $ - $ - $ - $ - $ - $ - $ - $ 9,194 Park Materials $ - $ 262 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 2 62 Bay Hill Flow Way Maintenance $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Subtotal Grounds Maintenance Exp. $ 33,411 $ 105,723 $ 40,267 $ 31,910 $ 2 6,297 $ 4 1,503 $ 33,078 $ 30,722 $ - $ - $ - $ - $ 342,910 Total Operations & Maintenance $ 71,278 $ 138,989 $ 81,508 $ 133,736 $ 164,203 $ 7 6,188 $ 67,097 $ 57,621 $ - $ - $ - $ - $ 790,621 Total Expenditures $ 88,628 $ 153,896 $ 96,290 $ 148,665 $ 178,895 $ 9 1,138 $ 81,827 $ 71,197 $ - $ - $ - $ - $ 910,535 Excess (Def.) of Rev. over Exp. $ (83,938) $ 247,348 $ 745,323 $ (77,317) $ ( 154,893) $ (73,247) $ (36,966) $ (58,300) $ - $ - $ - $ - $ 508,011 Other Financing Sources/Uses: Transfer In/(Out) $ - $ - $ - $ - $ - $ (31,777) $ - $ - $ - $ - $ - $ - $ (31,777) Total Other Fin. Sources/Uses $ - $ - $ - $ - $ - $ (31,777) $ - $ - $ - $ - $ - $ - $ (31,777) Net Change in Fund Balance $ (83,938) $ 247,348 $ 745,323 $ (77,317) $ (154,893) $ (105,024) $ (36,966) $ (58,300) $ - $ - $ - $ - $ 476,234 Viera East CDD COMMUNITY DEVELOPMENT DISTRICT Special Assessment Receipts Fiscal Year 2025 Gross Assessments 1,466,992.73 $ $ 615,413.83 $ 697,462.77 $ 2 ,779,869.33 Net Assessments $ 1 ,378,973.17 $ 578,489.00 $ 655,615.00 $ 2 ,613,077.17 ON ROLL ASSESSMENTS 52.77% 22.14% 25.09% 100.00% Date Distribution Gross Amount Discoumt/Penalty Commission Interest Net Receipts O&M Portion Recreation 2020 Debt Service Total 11/14/24 2025-01 $38,338.72 ($1,886.23) ($729.05) $0.00 $35,723.44 $18,851.97 $7,908.54 $8,962.93 $35,723.44 11/26/24 2025-02 $760,685.10 ($30,355.19) ($14,606.59) $0.00 $715,723.32 $377,701.53 $158,448.47 $179,573.32 $715,723.32 12/10/24 2025-03 $1,489,651.33 ($59,556.11) ($28,601.92) $0.00 $1,401,493.30 $739,596.09 $310,265.79 $351,631.42 $1,401,493.30 12/20/24 2025-04 $195,093.24 ($6,900.21) ($3,763.85) $0.00 $184,429.18 $97,326.98 $40,829.35 $46,272.85 $184,429.18 01/10/25 2025-06 $115,008.52 ($3,446.59) ($2,231.25) $0.00 $109,330.68 $57,696.00 $24,203.88 $27,430.80 $109,330.68 01/29/25 Interest $3,715.63 $0.00 $0.00 $0.00 $3,715.63 $1,960.82 $822.57 $932.24 $3,715.63 02/12/25 2025-07 $31,686.88 ($603.00) ($627.86) $0.00 $30,456.02 $16,072.26 $6,742.42 $7,641.34 $30,456.02 03/12/25 2025-08 $20,026.17 ($222.89) ($396.06) $0.00 $19,407.22 $10,241.58 $4,296.41 $4,869.23 $19,407.22 04/11/25 2025-09 $71,940.07 ($16.80) ($1,438.70) $0.00 $70,484.57 $37,196.11 $15,604.04 $17,684.42 $70,484.57 04/18/25 Interest $350.78 $0.00 $0.00 $0.00 $350.78 $185.11 $77.66 $88.01 $350.78 05/16/25 2025-10 $9,236.87 $0.00 ($189.83) $254.38 $9,301.42 $4,908.55 $2,059.17 $2,333.70 $9,301.42 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 TOTAL $ 2,735,733.31 $ (102,987.02) $ (52,585.11) $ 254.38 $ 2,580,415.56 $ 1,361,737.00 $ 571,258.30 $ 647,420.26 $ 2,580,415.56 99% $32,661.61 Net Percent Collected Balance Remaining to Collect Viera East Community Development District Golf Course, Pro Shop & Restaurant Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending May 31, 2025 Current Month Actual Actual 5/31/24 5/31/25 Variance Year- to - Date Actual Actual Thru 05/31/24 Thru 05/31/25 Variance Adopted Budget Number of Rounds Paid Rounds 35,250 Passholder Rounds 10,000 Comp Rounds 3,000 Revenue per Round Paid Rounds $ 50 4,826 186 132 4,951 2 57 1 21 125 7 1 (11) 31,700 2,200 847 36,934 2,321 1,007 5,234 121 160 $40 $40 0 $374 $44 (331) Revenues Golf Course Revenue Greens Fees $ 1,994,243 Gift Cards - Sales & (Usage) $ 26,523 Season Advance/Trail Fees $ 125,000 Loyalty Program $ 25,000 Driving Range $ 84,872 Golf Lessons $ 7,000 Miscellaneous Income - Golf Course $ 15,000 Assessments - Recreation Operating $ 18,239 $ 191,981 $ 26 $ 8,165 $ 1,962 $ 8,685 $ 1,410 $ (33) $ 1,520 $ 198,307 $ 1,402 $ 7,462 $ 1,526 $ 9,774 $ 2,048 $ (1,511) $ 1,520 $ 6,326 $ 1,377 $ (703) $ (436) $ 1,090 $ 638 $ (1,477) $ - $ 1,472,660 $ 2,264 $ 85,130 $ 18,921 $ 66,161 $ 6,530 $ 1,146 $ 12,159 $ 1,612,422 $ 4,178 $ 59,732 $ 18,540 $ 70,121 $ 13,624 $ 11,538 $ 12,159 $ 139,762 $ 1 ,914 $ (25,399) $ (381) $ 3 ,959 $ 7 ,094 $ 10,391 $ - Subtotal Golf Course Revenue $ 2,295,877 $ 213,716 $ 220,529 $ 6,814 $ 1 ,664,973 $ 1,802,313 $ 137,341 Pro Shop Revenue Merchandise Sales $ 122,004 $ 18,220 $ 12,175 $ (6,045) $ 103,491 $ 91,602 $ (11,889) Subtotal Pro Shop Revenue $ 122,004 $ 18,220 $ 12,175 $ (6,045) $ 103,491 $ 91,602 $ (11,889) Viera East Community Development District Golf Course, Pro Shop & Restaurant Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending May 31, 2025 Current Month Actual Actual 5/31/24 5/31/25 Variance Year- to - Date Actual Actual Thru 05/31/24 Thru 05/31/25 Variance Adopted Budget Restaurant Revenue Food & Snack Sales 415,923 $ Beverage Sales $ 13,642 Beer Sales $ 197,054 Wine Sales $ 34,106 Liquor Sales $ 101,442 Miscellaneous Income - Restaurant $ - $ 41,346 $ 5,073 $ 21,153 $ 7 13 $ 12,960 $ - $ 36,711 $ 2,950 $ 22,670 $ 1,539 $ 18,586 $ 1,344 $ (4,635) $ (2,124) $ 1,517 $ 827 $ 5,626 $ 1,344 $ 315,086 $ 37,128 $ 109,402 $ 4,390 $ 95,730 $ 4 93 $ 301,256 $ 23,984 $ 158,845 $ 12,879 $ 139,912 $ 2,068 $ (13,830) $ (13,143) $ 49,442 $ 8 ,489 $ 44,182 $ 1 ,576 Subtotal Restaurant Revenue $ 762,167 $ 81,246 $ 83,800 $ 2,554 $ 562,229 $ 638,945 $ 7 6,716 Total Revenues $ 3,180,048 Expenditures General Expenditures Other Contractual Services $ 20,000 Telephone $ 4,058 Utilities $ 5,400 Repairs & Maintenance $ 15,000 Bank Charges $ 55,000 Office Supplies $ 4,500 Operating Supplies $ 5,000 Dues, Licenses & Subscriptions $ 12,000 Drug Testing - All Departments $ 500 $ 313,181 $ 316,504 $ 3,323 $ 2 ,330,692 $ 2,532,860 $ 202,168 $ 2,335 $ 3 38 $ 4 17 $ 4 50 $ 6,959 $ 67 $ 6 19 $ 1,177 $ - $ 2,659 $ 908 $ 390 $ 1,872 $ 7,479 $ 210 $ 2,026 $ 2,072 $ - $ (324) $ (570) $ 28 $ (1,422) $ (520) $ (143) $ (1,407) $ (896) $ - $ 8,522 $ 2,697 $ 2,988 $ 3,756 $ 45,200 $ 2,126 $ 5,685 $ 8,234 $ - $ 12,101 $ 8,065 $ 3,002 $ 11,095 $ 50,666 $ 3,259 $ 9,101 $ 10,834 $ - $ (3,579) $ (5,368) $ (14) $ (7,339) $ (5,466) $ (1,133) $ (3,417) $ (2,600) $ - Viera East Community Development District Golf Course, Pro Shop & Restaurant Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending May 31, 2025 Current Month Actual Actual 5/31/24 5/31/25 Variance Year- to - Date Actual Actual Thru 05/31/24 Thru 05/31/25 Variance Adopted Budget General Expenditures Continued Training, Education & Emp. Relations 9,000 $ Contractual Security $ 4,000 IT Services $ 3,000 $ 95 $ - $ - $ 40 $ 973 $ 549 $ 55 $ (973) $ (549) $ 95 $ 2,094 $ 1,332 $ 2,773 $ 5,839 $ 5,468 $ (2,678) $ (3,744) $ (4,136) Subtotal General Expenditures $ 137,458 $ 12,457 $ 19,178 $ (6,721) $ 82,729 $ 122,203 $ (39,474) Administrative Expenditures Legal Fees $ 1,500 Arbitrage $ 600 Dissemination $ 1,050 Engineering $ - Trustee Fees $ 4,100 Annual Audit $ 5,000 Golf Course Administrative Services $ 56,280 Insurance $ 161,889 Marketing $ - Property Taxes $ 15,000 $ - $ 50 $ 83 $ - $ 3 41 $ 4 17 $ 4,690 $ 12,156 $ - $ 8 56 $ - $ 50 $ 88 $ - $ 341 $ 437 $ 4,690 $ 13,252 $ 1,100 $ 808 $ - $ - $ (4) $ - $ (0) $ (20) $ - $ (1,096) $ (1,100) $ 48 $ 5 63 $ 4 00 $ 6 67 $ - $ 2,726 $ 3,333 $ 37,520 $ 98,178 $ - $ 5,994 $ 803 $ 850 $ 700 $ - $ 2,726 $ 3,493 $ 37,520 $ 105,172 $ 1,100 $ 6,212 $ (241) $ (450) $ (33) $ - $ (0) $ (160) $ - $ (6,994) $ (1,100) $ (218) Subtotal Administrative Exp. $ 245,419 Total General & Administrative $ 382,877 $ 18,593 $ 20,765 $ (2,172) $ 149,381 $ 158,576 $ (9,195) $ 31,051 $ 39,943 $ (8,893) $ 232,110 $ 280,779 $ (48,669) Viera East Community Development District Golf Course, Pro Shop & Restaurant Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending May 31, 2025 Current Month Actual Actual 5/31/24 5/31/25 Variance Year- to - Date Actual Actual Thru 05/31/24 Thru 05/31/25 Variance Adopted Budget Operations & Maintenance Golf Operations Expenditures Salaries 314,250 $ Administrative Fee $ 16,848 FICA Expense $ 26,671 Health Insurance $ 10,500 Workers Compensation $ 7,077 Unemployment $ 10,935 Golf Printing $ 2,500 Utilities $ 22,500 Repairs $ 1,000 Pest Control $ 1,300 Supplies $ 15,000 Uniforms $ 1,500 Training, Educ. & Employee Relations $ 9,000 Cart Lease $ 135,196 Cart Maintenance $ 5,000 Driving Range $ 10,000 $ 29,349 $ 1,262 $ 2,245 $ 7 84 $ 4 64 $ 7 69 $ 1 40 $ 2,091 $ 27 $ - $ 9 60 $ 99 $ 3 20 $ 11,266 $ - $ 2 33 $ 31,375 $ 1,153 $ 2,400 $ 71 $ 496 $ 765 $ - $ 1,640 $ (1,653) $ - $ 223 $ 316 $ - $ 11,404 $ - $ - $ (2,027) $ 109 $ (155) $ 713 $ (32) $ 4 $ 140 $ 450 $ 1,680 $ - $ 738 $ (217) $ 320 $ (138) $ - $ 233 $ 206,601 $ 9,238 $ 16,471 $ 5,156 $ 2,957 $ 5,510 $ 1,042 $ 13,528 $ 5 50 $ 6 66 $ 13,186 $ 99 $ 9 20 $ 73,168 $ 3,484 $ 5,459 $ 236,357 $ 9,529 $ 18,081 $ 2,648 $ 3,920 $ 5,474 $ 2,610 $ 11,909 $ 394 $ - $ 5,344 $ 1,359 $ 1,308 $ 91,880 $ 1,836 $ 2,277 $ (29,755) $ (291) $ (1,610) $ 2 ,508 $ (963) $ 36 $ (1,568) $ 1 ,619 $ 156 $ 666 $ 7 ,842 $ (1,260) $ (388) $ (18,712) $ 1 ,649 $ 3 ,182 Subtotal Golf Operations Expenditures $ 589,277 $ 50,009 $ 48,190 $ 1,819 $ 358,038 $ 394,927 $ (36,889) Golf Course Maintenance Expenditures Salaries $ 474,149 Administrative Fees $ 6,616 FICA Expense $ 43,881 Employee Insurance $ 38,513 $ 35,374 $ 4 68 $ 2,706 $ 2,918 $ 43,243 $ 479 $ 3,308 $ 5,426 $ (7,869) $ (10) $ (602) $ (2,508) $ 284,576 $ 3,516 $ 22,712 $ 25,122 $ 321,390 $ 3,587 $ 24,586 $ 42,344 $ (36,814) $ (71) $ (1,874) $ (17,222) Viera East Community Development District Golf Course, Pro Shop & Restaurant Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending May 31, 2025 Current Month Actual Actual 5/31/24 5/31/25 Variance Year- to - Date Actual Actual Thru 05/31/24 Thru 05/31/25 Variance Adopted Budget Golf Course Maintenance Expenditures Continued Workers Compensation 10,462 $ Unemployment $ 6,418 Utilities/Water $ 30,000 Repairs $ 48,000 Restaurant Repairs $ 10,000 Fuel & Oil $ 40,000 Pest Control $ 2,000 Irrigation/Drainage $ 20,000 Sand and Topsoil $ 26,500 Flower/Mulch $ 7,000 Fertilizer $ 175,000 Seed/Sod $ 10,000 Trash Removal $ 3,000 Contingency $ 7,500 First Aid $ 800 Operating Supplies $ 20,000 Training $ 9,000 Janitorial Supplies $ 1,000 Janitorial Services $ 13,956 Soil & Water Testing $ 1,000 Uniforms $ 10,000 Equipment Rental $ 2,000 Equipment Lease $ 216,000 $ 5 45 $ 1 83 $ 5,719 $ 2,593 $ 6 39 $ 2,420 $ 3 71 $ 3 58 $ - $ - $ 20,698 $ - $ 2 19 $ 2 77 $ 66 $ 6 14 $ - $ 20 $ 2,749 $ - $ 6 36 $ 40 $ 17,096 $ 677 $ 77 $ 3,068 $ 5,237 $ 2,426 $ 2,313 $ 406 $ 593 $ 1,269 $ 798 $ 7,310 $ - $ 226 $ 1,173 $ - $ 1,788 $ 163 $ 25 $ 1,120 $ - $ 1,240 $ 2,500 $ 17,768 $ (132) $ 105 $ 2,651 $ (2,643) $ (1,787) $ 107 $ (35) $ (235) $ (1,269) $ (798) $ 13,388 $ - $ (7) $ (896) $ 66 $ (1,174) $ (163) $ (6) $ 1,629 $ - $ (604) $ (2,460) $ (672) $ 4,653 $ 3,512 $ 23,071 $ 29,175 $ 7,115 $ 22,539 $ 1,511 $ 7,246 $ 7,030 $ 1,592 $ 109,290 $ - $ 1,536 $ 6,476 $ 1 29 $ 5,056 $ 1,432 $ 1 80 $ 21,524 $ - $ 6,202 $ 2 78 $ 141,713 $ 5,306 $ 3,551 $ 20,304 $ 33,560 $ 3,890 $ 20,011 $ 3,013 $ 10,279 $ 10,453 $ 3,858 $ 72,999 $ 272 $ 2,100 $ 1,173 $ 277 $ 9,170 $ 718 $ 742 $ 8,563 $ - $ 7,773 $ 5,187 $ 150,609 $ (653) $ (39) $ 2 ,767 $ (4,385) $ 3 ,225 $ 2 ,528 $ (1,502) $ (3,033) $ (3,423) $ (2,266) $ 36,291 $ (272) $ (564) $ 5 ,303 $ (148) $ (4,114) $ 714 $ (562) $ 12,961 $ - $ (1,570) $ (4,909) $ (8,895) Subtotal Grounds Maintenance Exp. $ 1,232,795 $ 96,709 $ 102,632 $ (5,923) $ 737,185 $ 765,712 $ (28,527) Viera East Community Development District Golf Course, Pro Shop & Restaurant Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending May 31, 2025 Current Month Actual Actual 5/31/24 5/31/25 Variance Year- to - Date Actual Actual Thru 05/31/24 Thru 05/31/25 Variance Adopted Budget Total Operations & Maintenance 1,822,072 $ $ 146,718 $ 150,822 $ (4,104) $ 1 ,095,223 $ 1,160,639 $ (65,416) Total Golf Course Revenue $ 2,295,877 $ 213,716 $ 220,529 $ 6,814 $ 1 ,664,973 $ 1,802,313 $ 137,341 Merchandise Sales Cost of Goods Sold $ 90,000 $ 6,832 $ 10,341 $ (3,509) $ 71,972 $ 64,888 $ 7 ,083 Subtotal Merchandise Sales $ 90,000 $ 6,832 $ 10,341 $ (3,509) $ 71,972 $ 64,888 $ 7,083 Total Pro Shop Exp. $ 90,000 $ 6,832 $ 10,341 $ (3,509) $ 71,972 $ 64,888 $ 7,083 Pro Shop Revenue $ 122,004 $ 18,220 $ 12,175 $ (6,045) $ 103,491 $ 91,602 $ (11,889) Restaurant Expenditures Restaurant Expenditures Restaurant Manager Contract $ - Salaries $ 320,250 Administrative Fee $ 7,956 FICA Expense $ 29,041 Health Insurance $ 14,000 Workers Compensation $ 7,300 Unemployment $ 6,882 Telephone $ 5,250 Utilities $ 11,000 Pest Control $ 1,200 $ - $ 24,730 $ 6 75 $ 2,962 $ 2,157 $ 3 90 $ 2 19 $ 4 04 $ 1,682 $ - $ - $ 25,195 $ 632 $ 2,983 $ 940 $ 392 $ 331 $ - $ 945 $ - $ - $ (465) $ 43 $ (21) $ 1,218 $ (2) $ (112) $ 404 $ 737 $ - $ 10,833 $ 196,862 $ 4,547 $ 22,663 $ 10,741 $ 3,149 $ 4,469 $ 3,999 $ 7,857 $ 6 66 $ - $ 225,206 $ 5,401 $ 25,568 $ 9,890 $ 3,282 $ 4,743 $ - $ 6,484 $ - $ 10,833 $ (28,345) $ (854) $ (2,906) $ 851 $ (133) $ (274) $ 3 ,999 $ 1 ,374 $ 666 Viera East Community Development District Golf Course, Pro Shop & Restaurant Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending May 31, 2025 Current Month Actual Actual 5/31/24 5/31/25 Variance Year- to - Date Actual Actual Thru 05/31/24 Thru 05/31/25 Variance Adopted Budget Restaurant Expenditures Continued Merchant Fees 27,500 $ Equipment Lease $ 1,500 Kitchen Equipment/Supplies $ 3,000 Paper & Plastic Supplies $ 15,000 First Aid $ - Operating Supplies $ 20,000 Delivery/Gas $ 7,000 Dues & License $ 11,500 $ 2,459 $ 1 30 $ 67 $ 5 07 $ - $ 2,222 $ 1 21 $ 1,084 $ 429 $ 143 $ 909 $ 1,942 $ 32 $ 384 $ 347 $ 1,508 $ 2,030 $ (13) $ (841) $ (1,434) $ (32) $ 1,838 $ (226) $ (423) $ 16,898 $ 6 75 $ 3,463 $ 10,330 $ 11,562 $ - $ 4,038 $ 9,433 $ 18,277 $ 1,142 $ 9,806 $ 9,645 $ 3 2 $ 713 $ 3,173 $ 8,907 $ (1,379) $ (467) $ (6,343) $ 685 $ 11,530 $ (713) $ 865 $ 526 Subtotal Restaurant Expenditures $ 488,379 Cost of Goods Sold Food & Snack Cost $ 144,638 Beverage Cost $ 16,800 Beer Cost $ 74,550 Wine Cost $ 5,250 Liquor Cost $ 32,550 $ 39,810 $ 37,110 $ 2,700 $ 322,185 $ 332,268 $ (10,084) $ 22,035 $ 5,185 $ 5,418 $ 3 15 $ 3,108 $ 26,985 $ 4,780 $ 6,779 $ 1,213 $ 6,212 $ (4,950) $ 405 $ (1,361) $ (898) $ (3,104) $ 174,247 $ 25,014 $ 51,208 $ 4,267 $ 41,924 $ 170,799 $ 25,058 $ 56,308 $ 6,894 $ 42,900 $ 3 ,448 $ (44) $ (5,100) $ (2,627) $ (975) Subtotal Cost of Goods Sold $ 273,788 $ 36,061 $ 45,969 $ (9,907) $ 296,659 $ 301,957 $ (5,298) Total Restaurant Expenditures $ 762,167 $ 75,871 $ 83,078 $ (7,207) $ 618,844 $ 634,226 $ (15,382) Total Restaurant Revenue $ 762,167 $ 81,246 $ 83,800 $ 2,554 $ 562,229 $ 638,945 $ 7 6,716 Total Golf & H&E Revenue $ 3,180,048 $ 313,181 $ 316,504 $ 3,323 $ 2 ,330,692 $ 2,532,860 $ 202,168 Viera East Community Development District Golf Course, Pro Shop & Restaurant Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending May 31, 2025 Current Month Actual Actual 5/31/24 5/31/25 Variance Year- to - Date Actual Actual Thru 05/31/24 Thru 05/31/25 Variance Adopted Budget Total Golf & H&E Expenditures 3,057,116 $ $ 260,471 $ 284,184 $ (23,713) $ 2 ,018,148 $ 2,140,532 $ (122,384) Excess (Deficiency) of Rev. over Exp. $ 122,932 $ 52,710 $ 32,320 $ 27,037 $ 312,544 $ 392,328 $ 324,552 Other Financing Sources/(Uses): Assessments - Recreation Debt Service $ 560,250 Interest Income $ 1,000 Transfer In/(Out) - Capital Reserve $ (84,410) Interest Expense $ (53,250) Principal Expense $ (520,000) $ 46,688 $ 2,244 $ - $ (6,479) $ (40,833) $ 46,688 $ 3,368 $ - $ (4,438) $ (43,333) $ - $ 1,124 $ - $ 2,042 $ (2,500) $ 373,500 $ 12,970 $ (140,691) $ (51,833) $ (326,667) $ 373,500 $ 14,623 $ (84,410) $ (35,500) $ ( 346,667) $ - $ 1 ,654 $ 56,282 $ 16,333 $ (20,000) Total Other Financing Sources/(Uses) $ (96,410) $ 1,619 Net Change in Fund Balance $ 26,523 $ 54,329 Fund Balance - Beginning $ - Fund Balance - Ending $ 26,523 $ 2,285 $ 665 $ (132,722) $ ( 78,453) $ 5 4,269 $ 34,605 $ 179,822 $ 313,875 $ 639,514 $ 1,179,901 $ 819,336 $ 1,493,777 Viera East Community Development District Month to Month - Golf Course, Pro Shop & Restaurant Oct Nov Dec Jan Feb March April May June July Aug Sept Total Number of Rounds Paid Rounds 2,855 3,890 3,860 3,766 4,794 7,289 5,529 4,951 36,934 Passholder Rounds 226 301 314 244 293 353 333 257 2,321 Comp Rounds 116 112 144 124 155 109 126 121 1,007 Revenue per Round Paid Rounds $38 $43 $45 $49 $53 $39 $43 $0 $0 $0 $0 $0 $44 Revenues: Golf Course Revenue Greens Fees $ 1 08,644 $ 1 65,383 $ 1 74,680 $ 1 84,651 $ 2 54,371 $ 2 86,836 $ 2 39,550 $ 198,307 $ - $ - $ - $ - $ 1,612,422 Gift Cards - Sales & (Usage) $ (257) $ 1 ,337 $ 6 ,280 $ 269 $ (2,003) $ (1,528) $ (1,322) $ 1,402 $ - $ - $ - $ - $ 4 ,178 Season Advance/Trail Fees $ 9 ,215 $ 7 ,123 $ 6 ,951 $ 7 ,145 $ 6 ,998 $ 7 ,263 $ 7 ,576 $ 7,462 $ - $ - $ - $ - $ 59,732 Loyalty Program $ 4 ,624 $ 2 ,725 $ 1 ,744 $ 1 ,708 $ 2 ,071 $ 2 ,834 $ 1 ,308 $ 1,526 $ - $ - $ - $ - $ 18,540 Driving Range $ 5 ,417 $ 8 ,194 $ 7 ,812 $ 7 ,658 $ 8 ,988 $ 11,887 $ 10,390 $ 9,774 $ - $ - $ - $ - $ 70,121 Golf Lessons $ 1 ,050 $ 1 ,710 $ 1 ,690 $ 1 ,610 $ 1 ,517 $ 2 ,649 $ 1 ,350 $ 2,048 $ - $ - $ - $ - $ 13,624 Misc. Income Golf Course $ 7 ,179 $ 311 $ 2 ,157 $ 1 ,455 $ 248 $ 689 $ 1 ,008 $ (1,511) $ - $ - $ - $ - $ 11,538 Assessments - Recreation Op. $ 1 ,520 $ 1 ,520 $ 1 ,520 $ 1 ,520 $ 1 ,520 $ 1 ,520 $ 1 ,520 $ 1,520 $ - $ - $ - $ - $ 12,159 Subtotal Golf Course Revenue $ 137,392 $ 188,303 $ 202,834 $ 206,017 $ 273,710 $ 312,150 $ 261,379 $ 220,529 $ - $ - $ - $ - $ 1,802,313 Pro Shop Revenue Merchandise Sales $ 8 ,217 $ 11,776 $ 13,069 $ 8 ,722 $ 12,697 $ 12,718 $ 12,227 $ 1 2,175 $ - $ - $ - $ - $ 91,602 Subtotal Pro Shop Revenue $ 8,217 $ 11,776 $ 13,069 $ 8,722 $ 12,697 $ 12,718 $ 12,227 $ 12,175 $ - $ - $ - $ - $ 91,602 Restaurant Revenue Food & Snack Sales $ 33,975 $ 36,571 $ 38,119 $ 35,932 $ 35,511 $ 43,230 $ 41,208 $ 3 6,711 $ - $ - $ - $ - $ 301,256 Beverage Sales $ 3 ,482 $ 3 ,468 $ 2 ,387 $ 3 ,144 $ 2 ,677 $ 3 ,024 $ 2 ,853 $ 2,950 $ - $ - $ - $ - $ 23,984 Beer Sales $ 13,966 $ 16,776 $ 18,952 $ 16,975 $ 20,974 $ 25,468 $ 23,063 $ 2 2,670 $ - $ - $ - $ - $ 158,845 Wine Sales $ 1 ,411 $ 1 ,858 $ 1 ,365 $ 1 ,323 $ 1 ,708 $ 2 ,077 $ 1 ,599 $ 1,539 $ - $ - $ - $ - $ 12,879 Liquor Sales $ 14,033 $ 15,884 $ 16,514 $ 16,710 $ 16,353 $ 21,179 $ 20,653 $ 1 8,586 $ - $ - $ - $ - $ 139,912 Misc. Income - Restaurant $ 411 $ - $ - $ - $ 276 $ - $ 3 8 $ 1,344 $ - $ - $ - $ - $ 2 ,068 Subtotal Restaurant Revenue $ 67,278 $ 74,557 $ 77,336 $ 74,084 $ 77,499 $ 94,977 $ 89,414 $ 83,800 $ - $ - $ - $ - $ 638,945 Total Revenues $ 212,887 $ 274,636 $ 293,239 $ 288,823 $ 363,905 $ 419,845 $ 363,020 $ 316,504 $ - $ - $ - $ - $ 2,532,860 Viera East Community Development District Month to Month - Golf Course, Pro Shop & Restaurant Oct Nov Dec Jan Feb March April May June July Aug Sept Total Expenditures: General Expenditures: Other Contractual Services 1,999 $ $ 2 ,773 $ 483 $ 503 $ 1 ,226 $ 1 ,229 $ 1 ,229 $ 2,659 $ - $ - $ - $ - $ 12,101 Telephone $ 986 $ 1 ,009 $ 1 ,269 $ 994 $ 996 $ 996 $ 908 $ 9 08 $ - $ - $ - $ - $ 8 ,065 Utilities $ 332 $ 421 $ 379 $ 538 $ 271 $ 286 $ 385 $ 3 90 $ - $ - $ - $ - $ 3 ,002 Repairs & Maintenance $ 1 ,005 $ 5 ,952 $ 332 $ 323 $ 548 $ 360 $ 703 $ 1,872 $ - $ - $ - $ - $ 11,095 Bank Charges $ 4 ,276 $ 3 ,632 $ 5 ,760 $ 6 ,267 $ 6 ,020 $ 7 ,925 $ 9 ,308 $ 7,479 $ - $ - $ - $ - $ 50,666 Office Supplies $ 591 $ 338 $ 1 ,010 $ 7 3 $ 262 $ 428 $ 347 $ 2 10 $ - $ - $ - $ - $ 3 ,259 Operating Supplies $ 464 $ 619 $ 806 $ 650 $ 934 $ 1 ,046 $ 2 ,556 $ 2,026 $ - $ - $ - $ - $ 9 ,101 Dues, Licenses & Subscriptions $ 849 $ 649 $ 1 ,008 $ 1 ,625 $ 1 ,119 $ 1 ,495 $ 2 ,017 $ 2,072 $ - $ - $ - $ - $ 10,834 Drug Testing - All Departments $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Training, Education & Emp. Rel. $ 1 ,914 $ 9 9 $ 5 2 $ - $ 9 2 $ 490 $ 8 6 $ 40 $ - $ - $ - $ - $ 2 ,773 Contractual Security $ 5 9 $ 1 ,053 $ - $ - $ 1 ,745 $ 973 $ 1 ,036 $ 9 73 $ - $ - $ - $ - $ 5 ,839 IT Services $ 955 $ 869 $ 457 $ 592 $ 727 $ 532 $ 788 $ 5 49 $ - $ - $ - $ - $ 5 ,468 Subtotal General Expenditures $ 13,431 $ 17,413 $ 11,555 $ 11,565 $ 13,940 $ 15,758 $ 19,363 $ 19,178 $ - $ - $ - $ - $ 122,203 Administrative Expenditures: Legal Fees $ - $ - $ - $ 578 $ 188 $ 3 8 $ - $ - $ - $ - $ - $ - $ 803 Arbitrage $ 5 0 $ 5 0 $ 5 0 $ 500 $ 5 0 $ 5 0 $ 5 0 $ 50 $ - $ - $ - $ - $ 850 Dissemination $ 8 8 $ 8 8 $ 8 8 $ 8 8 $ 8 8 $ 8 8 $ 8 8 $ 88 $ - $ - $ - $ - $ 700 Engineering $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Trustee Fees $ 341 $ 341 $ 341 $ 341 $ 341 $ 341 $ 341 $ 3 41 $ - $ - $ - $ - $ 2 ,726 Annual Audit $ 437 $ 437 $ 437 $ 437 $ 437 $ 437 $ 437 $ 4 37 $ - $ - $ - $ - $ 3 ,493 Golf Course Admin. Services $ 4 ,690 $ 4 ,690 $ 4 ,690 $ 4 ,690 $ 4 ,690 $ 4 ,690 $ 4 ,690 $ 4,690 $ - $ - $ - $ - $ 37,520 Insurance $ 13,046 $ 13,046 $ 13,111 $ 13,046 $ 13,046 $ 13,124 $ 13,498 $ 1 3,252 $ - $ - $ - $ - $ 105,172 Marketing $ - $ - $ - $ - $ - $ - $ - $ 1,100 $ - $ - $ - $ - $ 1 ,100 Property Taxes $ 786 $ 786 $ 786 $ 746 $ 746 $ 746 $ 808 $ 8 08 $ - $ - $ - $ - $ 6 ,212 Subtotal Administrative Exp. $ 19,437 $ 19,437 $ 19,502 $ 20,425 $ 19,585 $ 19,513 $ 19,911 $ 20,765 $ - $ - $ - $ - $ 158,576 Total General & Admin. $ 32,868 $ 36,850 $ 31,057 $ 31,991 $ 33,525 $ 35,271 $ 39,275 $ 39,943 $ - $ - $ - $ - $ 280,779 Viera East Community Development District Month to Month - Golf Course, Pro Shop & Restaurant Oct Nov Dec Jan Feb March April May June July Aug Sept Total Operations & Maintenance Golf Operations Expenditures Salaries 26,578 $ $ 29,704 $ 29,389 $ 28,184 $ 27,627 $ 32,568 $ 30,932 $ 3 1,375 $ - $ - $ - $ - $ 236,357 Administrative Fee $ 1 ,211 $ 1 ,192 $ 1 ,214 $ 1 ,081 $ 1 ,365 $ 1 ,174 $ 1 ,139 $ 1,153 $ - $ - $ - $ - $ 9 ,529 FICA Expense $ 2 ,033 $ 2 ,272 $ 2 ,248 $ 2 ,156 $ 2 ,114 $ 2 ,491 $ 2 ,366 $ 2,400 $ - $ - $ - $ - $ 18,081 Health Insurance $ 1 ,211 $ 911 $ 7 4 $ 171 $ 7 1 $ 7 1 $ 7 1 $ 71 $ - $ - $ - $ - $ 2 ,648 Workers Compensation $ 419 $ 656 $ 464 $ 445 $ 436 $ 514 $ 489 $ 4 96 $ - $ - $ - $ - $ 3 ,920 Unemployment $ 295 $ 442 $ 644 $ 919 $ 789 $ 822 $ 798 $ 7 65 $ - $ - $ - $ - $ 5 ,474 Golf Printing $ - $ 682 $ - $ - $ 464 $ 1 ,465 $ - $ - $ - $ - $ - $ - $ 2 ,610 Utilities $ 1 ,383 $ 1 ,402 $ 1 ,349 $ 1 ,404 $ 1 ,629 $ 1 ,537 $ 1 ,564 $ 1,640 $ - $ - $ - $ - $ 11,909 Repairs $ - $ 7 7 $ 243 $ - $ 1 2 $ 2 8 $ 1 ,686 $ (1,653) $ - $ - $ - $ - $ 394 Pest Control $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Supplies $ - $ 1 ,812 $ 107 $ 2 ,287 $ 873 $ 4 1 $ - $ 2 23 $ - $ - $ - $ - $ 5 ,344 Uniforms $ 727 $ - $ - $ - $ - $ - $ 316 $ 3 16 $ - $ - $ - $ - $ 1 ,359 Training, Education & Emp. Rel. $ 710 $ 398 $ - $ - $ - $ - $ 200 $ - $ - $ - $ - $ - $ 1 ,308 Cart Lease $ 11,404 $ 11,653 $ 11,474 $ 11,404 $ 11,734 $ 11,404 $ 11,404 $ 1 1,404 $ - $ - $ - $ - $ 91,880 Cart Maintenance $ - $ - $ - $ 402 $ 449 $ - $ 985 $ - $ - $ - $ - $ - $ 1 ,836 Driving Range $ - $ - $ - $ 379 $ - $ 602 $ 1 ,296 $ - $ - $ - $ - $ - $ 2 ,277 Subtotal Operating Exp. $ 45,971 $ 51,202 $ 47,206 $ 48,833 $ 47,563 $ 52,717 $ 53,245 $ 48,190 $ - $ - $ - $ - $ 394,927 Golf Course Maintenance Exp. Salaries $ 38,557 $ 37,852 $ 39,256 $ 41,248 $ 38,315 $ 42,593 $ 40,327 $ 4 3,243 $ - $ - $ - $ - $ 321,390 Administrative Fees $ 430 $ 415 $ 430 $ 423 $ 495 $ 466 $ 449 $ 4 79 $ - $ - $ - $ - $ 3 ,587 FICA Expense $ 2 ,950 $ 2 ,896 $ 3 ,003 $ 3 ,155 $ 2 ,931 $ 3 ,258 $ 3 ,085 $ 3,308 $ - $ - $ - $ - $ 24,586 Employee Insurance $ 2 ,938 $ 2 ,963 $ 6 ,814 $ 6 ,297 $ 6 ,297 $ 6 ,304 $ 5 ,306 $ 5,426 $ - $ - $ - $ - $ 42,344 Workers Compensation $ 608 $ 843 $ 620 $ 649 $ 604 $ 671 $ 635 $ 6 77 $ - $ - $ - $ - $ 5 ,306 Unemployment $ 8 0 $ 7 4 $ 683 $ 1 ,415 $ 855 $ 313 $ 5 4 $ 77 $ - $ - $ - $ - $ 3 ,551 Utilities/Water $ 2 ,254 $ 2 ,258 $ 2 ,496 $ 2 ,386 $ 2 ,582 $ 2 ,462 $ 2 ,798 $ 3,068 $ - $ - $ - $ - $ 20,304 Repairs $ 2 ,800 $ 1 ,708 $ 2 ,868 $ 4 ,881 $ 5 ,104 $ 4 ,288 $ 6 ,674 $ 5,237 $ - $ - $ - $ - $ 33,560 Restaurant Repairs $ - $ - $ 780 $ 4 3 $ - $ 584 $ 5 6 $ 2,426 $ - $ - $ - $ - $ 3 ,890 Fuel & Oil $ 2 ,741 $ 1 ,805 $ 3 ,095 $ 2 ,938 $ 2 ,182 $ 2 ,767 $ 2 ,171 $ 2,313 $ - $ - $ - $ - $ 20,011 Pest Control $ 371 $ 371 $ 368 $ 368 $ 371 $ 371 $ 387 $ 4 06 $ - $ - $ - $ - $ 3 ,013 Irrigation/Drainage $ 1 ,975 $ 712 $ 172 $ 1 ,007 $ 495 $ 2 ,288 $ 3 ,038 $ 5 93 $ - $ - $ - $ - $ 10,279 Sand and Topsoil $ 1 ,245 $ - $ 1 ,142 $ 1 ,270 $ 1 ,114 $ 2 ,304 $ 2 ,109 $ 1,269 $ - $ - $ - $ - $ 10,453 Viera East Community Development District Month to Month - Golf Course, Pro Shop & Restaurant Oct Nov Dec Jan Feb March April May June July Aug Sept Total Golf Course Maintenance Exp. Cont. Flower/Mulch - $ $ - $ - $ - $ 1 ,456 $ 1 ,603 $ - $ 7 98 $ - $ - $ - $ - $ 3 ,858 Fertilizer $ 2 ,768 $ 7 ,989 $ 7 ,705 $ 9 ,963 $ 15,489 $ 9 ,421 $ 12,354 $ 7,310 $ - $ - $ - $ - $ 72,999 Seed/Sod $ - $ 272 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 272 Trash Removal $ 226 $ - $ - $ 970 $ 226 $ 226 $ 226 $ 2 26 $ - $ - $ - $ - $ 2 ,100 Contingency $ - $ - $ - $ - $ - $ - $ - $ 1,173 $ - $ - $ - $ - $ 1 ,173 First Aid $ - $ - $ - $ - $ - $ - $ 277 $ - $ - $ - $ - $ - $ 277 Operating Supplies $ 294 $ 771 $ 1 ,217 $ 2 ,057 $ 1 ,890 $ 603 $ 550 $ 1,788 $ - $ - $ - $ - $ 9 ,170 Training $ - $ 196 $ - $ 245 $ - $ 114 $ - $ 1 63 $ - $ - $ - $ - $ 718 Janitorial Supplies $ 3 7 $ - $ 175 $ 103 $ 384 $ - $ 1 7 $ 25 $ - $ - $ - $ - $ 742 Janitorial Services $ 765 $ 768 $ 1 ,095 $ 1 ,120 $ 1 ,400 $ 1 ,120 $ 1 ,175 $ 1,120 $ - $ - $ - $ - $ 8 ,563 Soil & Water Testing $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Uniforms $ 1 ,033 $ 1 ,292 $ 581 $ 1 ,266 $ 892 $ 735 $ 734 $ 1,240 $ - $ - $ - $ - $ 7 ,773 Equipment Rental $ 4 8 $ 4 7 $ 2 ,500 $ - $ 4 4 $ 4 8 $ - $ 2,500 $ - $ - $ - $ - $ 5 ,187 Equipment Lease $ 16,948 $ 19,171 $ 17,749 $ 17,900 $ 17,630 $ 17,765 $ 25,677 $ 1 7,768 $ - $ - $ - $ - $ 150,609 Subtotal Golf Main. Exp. $ 79,068 $ 82,401 $ 92,749 $ 99,705 $ 100,754 $ 100,305 $ 108,097 $ 102,632 $ - $ - $ - $ - $ 765,712 Total Operations & Mainten. $ 125,038 $ 133,603 $ 139,955 $ 148,538 $ 148,317 $ 153,022 $ 161,342 $ 150,822 $ - $ - $ - $ - $ 1,160,639 Merchandise Expenditures Cost of Goods Sold $ 6 ,506 $ 6 ,800 $ 5 ,651 $ 7 ,275 $ 11,001 $ 8 ,399 $ 8 ,916 $ 1 0,341 $ - $ - $ - $ - $ 64,888 Subtotal Merchandise Exp. $ 6,506 $ 6,800 $ 5,651 $ 7,275 $ 11,001 $ 8,399 $ 8,916 $ 10,341 $ - $ - $ - $ - $ 64,888 Total Pro Shop Exp. $ 6,506 $ 6,800 $ 5,651 $ 7,275 $ 11,001 $ 8,399 $ 8,916 $ 10,341 $ - $ - $ - $ - $ 64,888 Restaurant Expenditures Restaurant Expenditures Restaurant Manager Contract $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Salaries $ 29,058 $ 31,565 $ 31,244 $ 30,353 $ 25,492 $ 27,321 $ 24,978 $ 2 5,195 $ - $ - $ - $ - $ 225,206 Administrative Fee $ 731 $ 757 $ 765 $ 651 $ 680 $ 585 $ 600 $ 6 32 $ - $ - $ - $ - $ 5 ,401 FICA Expense $ 3 ,070 $ 3 ,422 $ 3 ,409 $ 3 ,304 $ 2 ,945 $ 3 ,292 $ 3 ,143 $ 2,983 $ - $ - $ - $ - $ 25,568 Health Insurance $ 1 ,529 $ 1 ,997 $ 1 ,824 $ 812 $ 909 $ 940 $ 940 $ 9 40 $ - $ - $ - $ - $ 9 ,890 Workers Compensation $ 450 $ 253 $ 492 $ 478 $ 402 $ 413 $ 402 $ 3 92 $ - $ - $ - $ - $ 3 ,282 Unemployment $ 230 $ 260 $ 803 $ 1 ,439 $ 782 $ 566 $ 332 $ 3 31 $ - $ - $ - $ - $ 4 ,743 Viera East Community Development District Month to Month - Golf Course, Pro Shop & Restaurant Oct Nov Dec Jan Feb March April May June July Aug Sept Total Restaurant Expenditures Continued Telephone - $ $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Utilities $ 827 $ 820 $ 668 $ 651 $ 911 $ 786 $ 876 $ 9 45 $ - $ - $ - $ - $ 6 ,484 Pest Control $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Merchant Fees $ 2 ,153 $ 2 ,338 $ 2 ,431 $ 2 ,268 $ 2 ,745 $ 2 ,923 $ 2 ,989 $ 4 29 $ - $ - $ - $ - $ 18,277 Equipment Lease $ 143 $ 143 $ 143 $ 143 $ 143 $ 143 $ 143 $ 1 43 $ - $ - $ - $ - $ 1 ,142 Kitchen Equipment/Supplies $ 1 ,580 $ 1 ,454 $ 1 ,333 $ 1 ,403 $ 746 $ 881 $ 1 ,501 $ 9 09 $ - $ - $ - $ - $ 9 ,806 Paper & Plastic Supplies $ 1 ,385 $ 842 $ 1 ,117 $ 578 $ 1 ,804 $ 880 $ 1 ,099 $ 1,942 $ - $ - $ - $ - $ 9 ,645 First Aid $ - $ - $ - $ - $ - $ - $ - $ 32 $ - $ - $ - $ - $ 3 2 Operating Supplies $ 194 $ - $ - $ - $ 526 $ (390) $ - $ 3 84 $ - $ - $ - $ - $ 713 Delivery/Gas $ 476 $ 320 $ 451 $ 400 $ 358 $ 380 $ 440 $ 3 47 $ - $ - $ - $ - $ 3 ,173 Dues & License $ 569 $ 871 $ 871 $ 1 ,024 $ 1 ,027 $ 1 ,027 $ 2 ,011 $ 1,508 $ - $ - $ - $ - $ 8 ,907 Subtotal Restaurant Exp. $ 42,395 $ 45,042 $ 45,550 $ 43,503 $ 39,469 $ 39,746 $ 39,453 $ 37,110 $ - $ - $ - $ - $ 332,268 Cost of Goods Sold Food & Snack Cost $ 16,103 $ 23,957 $ 17,867 $ 20,537 $ 15,723 $ 25,161 $ 24,466 $ 2 6,985 $ - $ - $ - $ - $ 170,799 Beverage Cost $ 3 ,808 $ 2 ,080 $ 2 ,452 $ 2 ,845 $ 963 $ 5 ,973 $ 2 ,157 $ 4,780 $ - $ - $ - $ - $ 25,058 Beer Cost $ 7 ,345 $ 6 ,215 $ 7 ,523 $ 5 ,025 $ 8 ,431 $ 6 ,672 $ 8 ,317 $ 6,779 $ - $ - $ - $ - $ 56,308 Wine Cost $ 440 $ 603 $ 966 $ 708 $ 749 $ 1 ,591 $ 623 $ 1,213 $ - $ - $ - $ - $ 6 ,894 Liquor Cost $ 4 ,739 $ 5 ,982 $ 6 ,935 $ 4 ,428 $ 3 ,238 $ 7 ,414 $ 3 ,952 $ 6,212 $ - $ - $ - $ - $ 42,900 Subtotal Cost of Goods Sold $ 32,435 $ 38,836 $ 35,743 $ 33,543 $ 29,104 $ 46,811 $ 39,516 $ 45,969 $ - $ - $ - $ - $ 301,957 Total Restaurant Exp. $ 74,830 $ 83,879 $ 81,293 $ 77,046 $ 68,573 $ 86,557 $ 78,969 $ 83,078 $ - $ - $ - $ - $ 634,226 Total Expenditures $ 239,243 $ 261,132 $ 257,956 $ 264,850 $ 261,416 $ 283,249 $ 288,501 $ 284,184 $ - $ - $ - $ - $ 2,140,532 Excess (Def.) of Rev. over Exp. $ (26,356) $ 13,504 $ 35,282 $ 23,973 $ 1 02,489 $ 1 36,596 $ 74,519 $ 3 2,320 $ - $ - $ - $ - $ 392,328 Other Financing Sources/Uses: Assess. - Recreation Debt Service $ 46,688 $ 46,688 $ 46,688 $ 46,688 $ 46,688 $ 46,688 $ 46,688 $ 4 6,688 $ - $ - $ - $ - $ 373,500 Interest Income $ 1 ,226 $ 1 ,279 $ 1 ,112 $ 1 ,300 $ 1 ,849 $ 2 ,018 $ 2 ,471 $ 3,368 $ - $ - $ - $ - $ 14,623 Transfer In/(Out) - Cap. Reserve $ - $ - $ - $ - $ - $ (84,410) $ - $ - $ - $ - $ - $ - $ (84,410) Interest Expense $ (4,438) $ (4,438) $ (4,438) $ (4,438) $ (4,438) $ (4,438) $ (4,438) $ (4,438) $ - $ - $ - $ - $ (35,500) Principal Expense $ (43,333) $ (43,333) $ (43,333) $ (43,333) $ (43,333) $ (43,333) $ (43,333) $ (43,333) $ - $ - $ - $ - $ (346,667) Total Other Fin Sources/Uses $ 142 $ 196 $ 29 $ 216 $ 766 $ (83,475) $ 1,388 $ 2,285 $ - $ - $ - $ - $ (78,453) Viera East Community Development District Month to Month - Golf Course, Pro Shop & Restaurant Oct Nov Dec Jan Feb March April May June July Aug Sept Total Net Change in Fund Balance (26,213) $ $ 13,700 $ 35,311 $ 24,190 $ 103,255 $ 53,121 $ 75,906 $ 34,605 $ - $ - $ - $ - $ 313,875 Cost of Goods Sold as a % of Sales: Food & Snack Cost 47.4% 65.5% 46.9% 57.2% 44.3% 58.2% 59.4% 73.5% Beverage Cost 109.4% 60.0% 102.7% 90.5% 36.0% 197.5% 75.6% 162.0% Beer Cost 52.6% 37.0% 39.7% 29.6% 40.2% 26.2% 36.1% 29.9% Wine Cost 31.2% 32.4% 70.8% 53.5% 43.9% 76.6% 39.0% 78.8% Liquor Cost 33.8% 37.7% 42.0% 26.5% 19.8% 35.0% 19.1% 33.4% Viera East Community Development District Capital Reserve Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending May 31, 2025 Adopted Budget Prorated Budget Thru 05/31/25 General Fund Allocation Golf Course Allocation Total Actual Thru 05/31/25 Revenues Interest 500 $ $ 333 $ 4,396 $ 7,595 $ 11,991 Total Revenues $ 500 Expenditures: Capital Outlay $ 80,000 Truck Maintenance $ 25,000 Sign Project $ 20,000 Vehicle Purchase $ 20,000 Total Expenditures $ 145,000 $ 333 $ 4,396 $ 7,595 $ 11,991 $ 53,333 $ 16,667 $ 13,333 $ 13,333 $ 42,740 $ - $ - $ - $ 235,897 $ 35,000 $ - $ - $ 278,638 $ 35,000 $ - $ - $ 96,667 $ 42,740 $ 270,897 $ 313,638 Excess (Deficiency) of Revenues over Expenditures $ (144,500) $ (38,344) $ (263,303) $ (301,647) Other Financing Sources/(Uses) Transfer In/(Out) - General Fund $ 31,777 Transfer In/(Out) - Golf Course $ 84,410 $ - $ - $ 31,777 $ - $ - $ 84,410 $ 31,777 $ 84,410 Total Other Financing Sources (Uses) $ 116,187 $ - $ 31,777 $ 84,410 $ 116,187 Net Change in Fund Balance $ (28,313) Fund Balance - Beginning $ 1,660,412 Fund Balance - Ending $ 1,632,099 $ ( 6,567) $ (178,893) $ (185,460) $ 580,243 $ 1,002,380 $ 1,582,623 $ 573,675 $ 823,487 $ 1,397,163 * Please note that the FY24 Golf Course income will be transferred to the capital account. Estimated amount is $189,324. Viera East Community Development District Capital Reserve Fund Capital Outlay Check Register Detail For The Period Ending May 31, 2025 Check Date Fund Vendor Detail Amount 10/30/24 10/30/24 11/30/24 01/21/25 Total General Fund General General General General Viera East Reserve Advisors, LLC Florida Coast Equipment Environmental Restoration Serv. Clean Up CPF Balance Reserve Study Utility Vehicle Raccoon Court Fountain 150 $ $ 4,875 $ 18,120 $ 19,596 $ 42,740 10/30/24 11/30/24 11/30/24 12/05/24 03/31/25 Total Golf Course Golf Course Golf Course Golf Course Golf Course Golf Course Landirr Inc. WW Sod & Equipment Landirr Accurate Air Conditioning Ruth Nichols Reno Green Side Bunkers Kawasaki Mower Renovation of Bunkers Cooler/Freezer Installation Final Pmt. Truck $ 91,980 $ 12,410 $ 118,260 $ 13,247 $ 35,000 $ 270,897 Total $ 313,638 Viera East Community Development District Debt Service Fund Series 2020 Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending May 31, 2025 Adopted Budget Prorated Budget Actual Thru 05/31/25 Thru 05/31/25 Variance Revenues: Assessments - Tax Roll 655,615 $ Interest $ 5 00 $ 647,420 $ 3 33 $ 647,420 $ 15,905 $ - $ 15,571 Total Revenues $ 6 56,115 Expenditures: Interest - 11/1 $ 80,658 Principal - 5/1 $ 500,000 Interest - 5/1 $ 80,658 Total Expenditures $ 6 61,315 $ 6 47,754 $ 6 63,325 $ 15,571 $ 80,658 $ 500,000 $ 80,658 $ 80,658 $ 500,000 $ 80,658 $ - $ - $ - $ 6 61,315 $ 6 61,315 $ - Excess (Deficiency) of Revenues over Expenditures $ ( 5,200) $ 2,010 Other Financing Sources/(Uses): Transfer In/(Out) $ - $ - $ - $ - Total Other Financing Sources/(Uses) $ - Net Change in Fund Balance $ (5,200) Fund Balance - Beginning $ 1 32,287 Fund Balance - Ending $ 1 27,087 $ - $ - $ - $ 2,010 $ 3 57,224 $ 3 59,234 Viera East Community Development District Capital Projects Fund Series 2020 Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending May 31, 2025 Adopted Budget Prorated Budget Thru 05/31/25 Actual Thru 05/31/25 Variance Revenues Interest - $ $ - $ 2,794 $ 2,794 Total Revenues $ - Expenditures: Capital Outlay $ - Total Expenditures $ - $ - $ 2,794 $ 2,794 $ - $ (150) $ 1 50 $ - $ (150) $ 150 Excess (Deficiency) of Revenues over Expenditures $ - $ 2,944 Other Financing Sources/(Uses) Transfer In/(Out) $ - $ - $ - $ - Total Other Financing Sources (Uses) $ - $ - $ - $ - Net Change in Fund Balance $ - Fund Balance - Beginning $ - Fund Balance - Ending $ - $ 2,944 $ 61,662 $ 64,607