Laurel Road Community Development District
3501 Quadrangle Boulevard, Suite 270, Orlando, FL 32817
Phone 407-723-5900; Fax 407-723-5901

The following is the agenda for the Board of Supervisors Meeting for the Laurel Road Community Development District scheduled to be held Wednesday February 8, 2023, at 12:30 PM located at 5800 Lakewood Ranch Blvd, Sarasota, FL 34240. The following is the proposed agenda for this meeting.

Call in number: 1-844-621-3956 Passcode: 790 562 990 #
BOARD OF SUPERVISORS’ MEETING AGENDA

Administrative Matters

Roll Call to Confirm Quorum
Public Comment Period [for any members of the public desiring to speak on any proposition before the Board]

Consideration of the Minutes of the January 11, 2023, Board of Supervisors’ Meeting

Business Matters
Review and Consideration of FEDCO Proposals for Vistera Phase 1A and 1B FPL Feeder and Primary Conduit System Installation
Ratification of Change Order No. 13 for Vistera of Venice – Phase 1
Ratification of Funding Requests Nos. 089 - 091
Review of District Financial Statements
Other Business Staff Reports
District Counsel District Engineer District Manager

Supervisor Requests and Audience Comments Adjournment

Laurel Road Community Development District

Minutes of the January 11, 2023, Board of Supervisors Meeting

MINUTES OF MEETING

LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS MEETING
Wednesday, January 11, 2023, at 12:30 p.m. 5800 Lakewood Ranch Blvd,
Sarasota, FL 34240

Board Members present at roll call:

Pete Williams	Chairperson
Janice Snow	Vice Chairperson
John Blakley	Assistant Secretary John Leinaweaver Assistant Secretary Dale Weidemiller   Assistant Secretary

Also present at roll call via speakerphone or in-person:

Vivian Carvalho	PFM - District Manager		
Venessa Ripoll	PFM - District Manager	(via phone)	
Jorge Jimenez	PFM - ADM	(via phone)	
Amanda Lane	PFM - District Accountant	(via phone)	
Ed Vogler	Vogler Ashton – District Counsel	(via phone)	
Tom Panaseny	Neal Communities	(via phone)	
Bobbi Claybrooke	AM Engineering – District Engineer	(via phone)	
John McKay	J. H. McKay, LLC		

FIRST ORDER OF BUSINESS	Administrative Matters Roll Call
The Board of Supervisors’ Meeting for Laurel Road CDD was called to order at 12:36 p.m. Those in attendance are outlined above either in person or via speakerphone.

Public Comment Period

There were no public comments.

Consideration  of

the

Minutes

of  the

December	14,

2022,

Board	of

Supervisors’ Meeting

The Board reviewed the minutes.

1 | P age 

ON MOTION by Mr. Williams, seconded by Mr. Leinaweaver, with all in favor, the Board approved the December 14, 2022, Board of Supervisors’ Meeting.

SECOND ORDER OF BUSINESS	Business Matters

Consideration of Grau & Associates Arbitrage Engagement Letter for Rebate Services

Ms. Carvalho stated the District has to have an Arbitrage Rebate Calculation Report completed every year. Grau & Associates provided an engagement letter for consideration.

ON MOTION by Mr. Williams, seconded by Ms. Snow, with all in favor, the Board approved the Grau & Associates Arbitrage Engagement Letter for Arbitrage Rebate Calculation Services.

Review and Consideration of Fiore Lift Station Back-Up Pump Proposal

Mr. Panaseny stated that the diesel back-up pump is required by Sarasota County.

ON MOTION by Mr. Williams, seconded by Mr. Leinaweaver, with all in favor, the Board approved the Fiore Lift Station Back-Up Pump Proposal.

Ratification of Funding Request No. 088

The Board reviewed the funding request.

ON MOTION by Mr. Williams, seconded by Ms. Snow, with all in favor, the Board ratified funding request No. 088.

Review of District Financial Statements

2 | P age 

ON MOTION by Mr. Weidemiller, seconded by Mr. Williams, with all in favor, the Board approved the District Financial Statements.

THIRD ORDER OF BUSINESS	Other Business	

District Counsel –

District Engineer –	
No report. No report.	Staff Reports	

District Manager –	Ms. Carvalho stated that the next meeting will be held on February 8, 2023, at 12:30 p.m.

Audience	Comments	and	Supervisor Requests

There were no audience comments or supervisor requests.

FOURTH ORDER OF BUSINESS	Adjournment

There were no other questions or comments.

ON MOTION by Mr. Blakley, seconded by Ms. Snow, with all in favor, the January 11, 2023, Board of Supervisors’ Meeting for the Laurel Road Community Development District was adjourned at 12:41 p.m.

Secretary / Assistant Secretary	Chairperson / Vice Chairperson

3 | P age 

Laurel Road Community Development District

FEDCO Proposals for Vistera Phase 1A and 1B FPL Feeder and Primary Conduit System Installation

FEDCO Communications and Utilities, LLC	
3480 Sunbeam Drive ∙ Sarasota, FL 34240 ∙ (941) 809-2914	
	PROPOSAL DATE:	01-17-2023	
	PROPOSAL #	FPL-VIS-001	
LAUREL CDD	PROPOSAL AMOUNT:	$103,269.00	
5824 LWR BLVD	FPL JOB#	11367557	
SARASOTA, FL 34240			
ATTN: Andy Richardson			
	PROPOSAL		
	VISTERA PHASE 1A		
	NOKOMIS, FL		

RE: FPL FEEDER AND PRIMARY CONDUIT SYSTEM INSTALLATION

WE PROPOSE TO DO THE FOLLOWING WORK:
EXCAVATE AND INSTALL FPL FEEDER AND PRIMARY CONDUIT SYSTEM
CONNECT TO EXISTING ROAD CROSSINGS INSTALLED BY OTHERS
FOLLOW FPL DESIGN – BRIAN GARNER DATED 08-11-22 PAGES 1-11
INSTALL ALL CONDUITS, PADS, HANDHOLES, PRIMARY SPLICE BOXES, FEEDER SPLICE BOXES, AND FEEDER SWITCH CABINETS
BLOW OUT ALL FEEDER AND PRIMARY CONDUITS WITH AIR COMPRESSOR TO ENSURE CONTINUITY
PROVIDE ALL LABOR, EQUIPMENT, AND INSURANCES

NOTE:
FPL TO TRANSPORT ALL MATERIALS TO SITE
DEVELOPER TO PROVIDE LOT CORNER AND ROW STAKES WITH GRADE MARKS
DEVELOPER TO HAVE UTILITY EASEMENT TO GRADE
DEVELOPER TO COORDINATE WITH FEDCO TO COMPLETE TRENCHES PRIOR TO COMCAST, AND PRIOR TO SIDEWALKS BEING POURED
FEDCO TO PROVIDE DUMPTER(S) AND REMOVE MATERIAL DEBRIS
DIRECTIONAL BORING MAY BE REQUIRED DUE TO DEPTH OF STORM PIPES
DOES NOT INCLUDE ANY DIRECTIONAL BORES OR SOD RESTORATION

COST: $98,519.00

PAYMENT TERMS: PROGRESSIVE BILLING

	01-17-2023	 		 		
Allan S. Feder,
FEDCO COMMUNICATIONS AND UTILITIES, LLC	DATE	
LAUREL CDD	DATE	

FEDCO Communications and Utilities, LLC

	PROPOSAL DATE:	01-17-2023	
	PROPOSAL #	FPL-VIS-005	
LAUREL CDD	PROPOSAL AMOUNT:	$111,625.85	
5824 LWR BLVD	FPL JOB#	11367567	
SARASOTA, FL 34240			
ATTN: Andy Richardson			
	PROPOSAL		
	VISTERA PHASE 1B		
	NOKOMIS, FL		

3480 Sunbeam Drive ∙ Sarasota, FL 34240 ∙ (941) 809-2914

RE: FPL FEEDER AND PRIMARY CONDUIT SYSTEM INSTALLATION WE PROPOSE TO DO THE FOLLOWING WORK:
EXCAVATE AND INSTALL FPL FEEDER AND PRIMARY CONDUIT SYSTEM
CONNECT TO EXISTING ROAD CROSSINGS INSTALLED BY OTHERS
FOLLOW FPL DESIGN – BRIAN GARNER DATED 08-11-22 PAGES 1-11
INSTALL ALL CONDUITS, PADS, HANDHOLES, PRIMARY SPLICE BOXES, FEEDER SPLICE BOXES, AND FEEDER SWITCH CABINETS
BLOW OUT ALL FEEDER AND PRIMARY CONDUITS WITH AIR COMPRESSOR TO ENSURE CONTINUITY
PROVIDE ALL LABOR, EQUIPMENT, AND INSURANCES

NOTE:
FPL TO TRANSPORT ALL MATERIALS TO SITE
DEVELOPER TO PROVIDE LOT CORNER AND ROW STAKES WITH GRADE MARKS
DEVELOPER TO HAVE UTILITY EASEMENT TO GRADE
DEVELOPER TO COORDINATE WITH FEDCO TO COMPLETE TRENCHES PRIOR TO COMCAST, AND PRIOR TO SIDEWALKS BEING POURED
FEDCO TO PROVIDE DUMPTER(S) AND REMOVE MATERIAL DEBRIS
DIRECTIONAL BORING MAY BE REQUIRED DUE TO DEPTH OF STORM PIPES
DOES NOT INCLUDE ANY DIRECTIONAL BORES OR SOD RESTORATION

COST: $106,875.85

PAYMENT TERMS: PROGRESSIVE BILLING

	01-17-2023	 		 		
Allan S. Feder,
FEDCO COMMUNICATIONS AND UTILITIES, LLC	DATE	
LAUREL CDD	DATE	

Laurel Road Community Development District

Change Order No. 13
for Vistera of Venice – Phase 1

CHANGE ORDER NO. 13

PROJECT	Vistera of Venice - Phase 1		

Date of Issuance	
January 20, 2023	
Effective Date	
January 20, 2023	

OWNER	

Laurel Road Community Development District		

OWNER's Contract No.	
N/A		

CONTRACTOR	
Forsberg Construction, Inc.	ENGINEER	
AM Engineering, LLC	

You are directed to make the following changes in the Contract Documents.

Description:	See attachment for description of work items

Reason for Change Order:	Plan revisions/additions, permit issuance/conditions, construction plan approval and project changes

Contract Time:	No change

CHANGE IN CONTRACT PRICE:
Original Contract Price
$	15,992,366.02	CHANGE IN CONTRACT TIMES:
Original Contract Times

Substantial/Final Completion:  437 Days	
			
Net Changes from previous Change Orders No. 1 to No. 12
$	4,176,209.30	Net Changes from previous Change Orders No. 1 to No. 12

421 Days	
			
Contract Price prior to this Change Order
$	20,168,575.32	Contract Times prior to this Change Order

Substantial/Final Completion:  858 Days	
			
Net Increase of this Change Order
$	2,190,364.65	Net Increase of this Change Order

0 Days	
			
Contract Price with all approved Change Orders
$	22,358,939.97	Contract Times with all approved Change Orders

Substantial/Final Completion:  858 Days	

RECOMMENDED:	APPROVED:	ACCEPTED:
AM Engineering, Inc.	Laurel Road CDD	Forsberg Construction, Inc.

By:	By: 	
Bobbi Claybrooke, P.E.	Peter Williams, Chairman

By:

Gregg V Marsh, Vice President

Date: 01/20/23

Date:	Date:	1/20/23

CHANGE ORDER NO. 13
Exbibit "A" - Schedule of Values Vistera of Venice - Phase 1	
ITEM	DESCRIPTION	ESTIMATED
QUANTITY	UNIT PRICE	AMOUNT	
EXISTING CONTRACT UNIT PRICES	
1. GENERAL CONDITIONS	
2	Construction Stake-out & Record Drawings (additional charges for phased record
drawings to be determined at later date)	1	LS	$	-	TBD	
11	FPL Easement Access Road (TBD)	1	LS	$	-	TBD	
12	Crown Castle Access Road (TBD)	1	LS	$	-	TBD	

13	Relocate pipe delivered to the project +/-10 months ago and staged in Phase 2 at the direction of the CDD due to instability in the markets - Pipe was in conflict with the
on-going construction NOT ACCEPTED	
1	
LS	
$  23,232.00	
$	
-	

15	Superintendent and Equipment Fueling/Maintenance for Number of Work Days
Added to Contract (421 days added in Change Order No. 11 multiplied by 5 Work Days per 7 Calendar Days) 50% ACCEPTED	
1	
LS	
$ 286,200.00	
$	
286,200.00	

16	Pump from Lake 1200 to FPL Easement due to lack of storm drainage outfall created by Lake 1100 not be excavated as a result conflicting overhead FPL power lines to tower site (July through October)	
1	
LS	
$  87,520.66	
$	
87,520.66	

17	Repair wash-outs, construct temporary roadways to tower area following Hurricane Ian - corner of property between NE and NW parcels drain to Lake 1100 causing major damage from storm - drainage modifications required	
1	
LS	
$  20,226.00	
$	
20,226.00	

18	Excavation & Grading to lower lots due to the removal of the front retaining wall - LOTS GRADES WILL REMAIN THE SAME WITHOUT WALL IS THEY WERE WITH WALL	
1	
LS		
N/A	
GENERAL CONDITIONS SUBTOTAL	$	393,946.66	
2. EARTHWORK (sod and seed quantities reflect Contract quantity - FUTURE CHANGE ORDER to reconcile quantity)	

31	Excavate trenches, dewater, compact and grade Northeast Parcel in accordance with on-site meeting on 7/8 - Clearing and filling of NE parcel was delayed due to permitting - Contract scope of work was completed; however, material was too wet to complete density testing - Work required due to critical nature and requirements of its completion that were above and beyond the original scope of services in the Contract - All densities passed on 8/19/22 and lot pad as-built confirmed by EOR on
9/2/22 50% ACCEPTED	

1	

LS	

$  39,609.51	

$	

39,609.51	

33	Grade lots to accommodate updated area for LOMAR survey furnished on 8/16/22 - Required the removal of stockpiled material on requested lots (+/- 13500 CY) NOT ACCEPTED	
1	
LS	
$  52,734.00	
$	
-	

35	Excavate, fill, screen and legally dispose of debris buried on-site thorugh end of August per 6/8/22 email - this is an on-going activity - as of 9/9, there are large areas in and adjacent Lake 500 with buried debris - in addition, there are large stockpiles that have to be screened and then debris hauled off-site and topsoil buried in green
areas	

1	

LS	

$  34,357.52	

$	

34,357.52	

36	Contract Unit Price - Excavate excess material from lakes and stockpile - Estimated quantity - Final Quantity to be reconciled with topographic survey by Owner comparing stockpile elevations to the design grades (i.e. Phase 2 design grade = 15.40 and NW parcel design grade = 17.50)	
300,000	
CY	
$	4.75	
$	
1,425,000.00	
37	Contract Unit Price - Increased Cost of Fuel and Subcontractor to Clear & Grub
above original June 2021 pricing	18	AC	$	2,574.00	$	46,332.00	
38	Load, Haul and Stockpile cleared debris for processing/grinding from NW Parcel to
Phase 2 lot area to facilitate stripping and filling of NW Parcel	18	AC	$	3,276.00	$	58,968.00	

39	Excavate, fill, screen and legally dispose of debris buried on-site thorugh end of August per 6/8/22 email - this is an on-going activity - as of 11/28, there are large areas in and adjacent Lake 500 with buried debris - in addition, there are large stockpiles that have to be screened and then debris hauled off-site and topsoil buried
in green areas	

1	

LS	

$  26,262.00	

$	

26,262.00	

40	Excavate, fill, screen and legally dispose of debris buried on-site thorugh end of August per 6/8/22 email - this is an on-going activity - as of 12/30, there are large areas in and adjacent Lake 500 with buried debris - in addition, there are large stockpiles that have to be screened and then debris hauled off-site and topsoil buried
in green areas	

1	

LS	

$  65,496.86	

$	

65,496.86	

Forsberg Construction, Inc.	Change Order Backup Documentation	1/20/2023

CHANGE ORDER NO. 13
Exbibit "A" - Schedule of Values Vistera of Venice - Phase 1	
ITEM	DESCRIPTION	ESTIMATED
QUANTITY	UNIT PRICE	AMOUNT	
EXISTING CONTRACT UNIT PRICES	

41	Excavate, fill, screen and legally dispose of debris buried on-site thorugh end of August per 6/8/22 email - this is an on-going activity - as of 1/6, there are large areas in and adjacent Lake 500 with buried debris - in addition, there are large stockpiles that have to be screened and then debris hauled off-site and topsoil buried in green
areas	

1	

LS	

$  44,144.40	

$	44,144.40	
EARTHWORK SUBTOTAL	$	1,740,170.29	
3. ROADWAY (FUTURE CHANGE ORDER to reconcile quantities, adjust unit prices to reflect price increases since bid date, modify scope of
work)	
27	Crossing, 2" Conduit - Contract Quantity = 7000 LF; Estimated Required Quantity =
7700 LF	700	LF	$	8.00	$	5,600.00	
28	Crossing, 4" Conduit - Contract Quantity = 2000 LF; Estimated Required Quantity =
7400 LF	5,400	LF	$	10.00	$	54,000.00	
29	Crossing, 6" Conduit - Contract Quantity = 1000 L; Estimated Required Quantity =
1800 LF	800	LF	$	14.00	$	11,200.00	
30	Crossing, 8" Conduit - Contract Quantity = 1000 LF; Estimated Required Quantity =
0 LF	-1,000	LF	$	17.00	$	(17,000.00)	
ROADWAY SUBTOTAL	$	53,800.00	
4. STORM DRAINAGE (none)	
5. SANITARY SEWER (none) - FUTURE CHANGE ORDER - MODIFICATIONS TO ARIA AND FIORE PUMP STATIONS	
6. WATER MAIN (none) - FUTURE CHANGE ORDER - JUMPERS AND TESTING FOR SUBPHASING	
7. REUSE MAIN (none) - FUTURE CHANGE ORDER - TESTING FOR SUBPHASES	
2f	8" Gate Valve (installed at subphase lines)	2	EA	$	1,223.85	$	2,447.70	
REUSE SUBTOTAL	$	2,447.70	
8. AMENITY CENTER (none) - FUTURE CHANGE ORDER FOR ALL WORK AT AMENITY CENTER SITE	
	
SUMMARY	
	
1. GENERAL CONDITIONS	$	393,946.66	
2. EARTHWORK (sod and seed quantities reflect Contract quantity - FUTURE CHANGE ORDER to reconcile quantity)	$	1,740,170.29	
3. ROADWAY (FUTURE CHANGE ORDER to reconcile quantities, adjust unit prices to reflect price increases since bid da	$	53,800.00	
4. STORM DRAINAGE (none)	$	-	
5. SANITARY SEWER (none) - FUTURE CHANGE ORDER - MODIFICATIONS TO ARIA AND FIORE PUMP STATIO	$	-	
6. WATER MAIN (none) - FUTURE CHANGE ORDER - JUMPERS AND TESTING FOR SUBPHASING	$	-	
7. REUSE MAIN (none) - FUTURE CHANGE ORDER - TESTING FOR SUBPHASES	$	2,447.70	
8. AMENITY CENTER (none) - FUTURE CHANGE ORDER FOR ALL WORK AT AMENITY CENTER SITE	$	-	
Vistera of Venice - Phase 1 TOTAL	$	2,190,364.65	

Forsberg Construction, Inc.	Change Order Backup Documentation	1/20/2023

Laurel Road Community Development District

Funding Requests Nos. 089 – 091

LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT

Funding Request No. 89 - 91

FR #	Description	Amount	Total	
				
89	PFM Group Consulting	$4,000.00		
				
			$4,000.00	
				
90	CA Florida Holdings	$	173.25		
		$	12.17		
				
	Supervisor Fees - 01/11/22			
	Dale Weidemiller	$	200.00		
	John Blakley	$	200.00		
	Pete Williams	$	200.00		
	Janice Snow	$	200.00		
	John Leinaweaver	$	200.00		
				
			$1,185.42	
				
91	Vogler Ashton	$	220.00		
				
			$220.00	

		Total	$5,405.42	

LAUREL ROAD
COMMUNITY	DEVELOPMENT	DISTRICT

Funding Request No. 089
1/6/2023

Item No.

Vendor	Invoice
Number

General Fund

1	PFM Group Consulting
DM Fee: January 2023	DM-01-2023-25	$  4,000.00

TOTAL	$  4,000.00

Secretary I Assistant Secretary	Board Member

Laurel Road COD
c/o PFM Group Consulting
3501 Quadrangle Blvd. Ste. 270

RECEIVED
By Amanda Lane at 8:47 am, Jan 09, 2023

Orlando, FL 32817
LaneA@pfm.com II (407) 723-5925

LAUREL ROAD
COMMUNITY	DEVELOPMENT	DISTRICT

Funding Request No. 090

	1/13/2023		
	Item	Vendor	Invoice	General		
	No.		Number	Fund		
	
1	
CA Florida Holdings				
		Legal Ad 8141576 on December 7, 2022	5178102	$	173.25		
		Finance Charge	5178102	$	12.17		
	2	Supervisor Fees -- 01/11/2023 Meeting				
		Dale Weidemiller	--	$	200.00		
		John Blakley	--	$	200.00		
		Pete Williams	--	$	200.00		
		Janice Snow	--	$	200.00		
		John Leinaweaver	--	$	200.00		
			
TOTAL	
$  1,185.42		

Secretary I Assistant Secretary

�AL
Board Member

Laurel Road COD
c/o PFM Group Consulting
3501 Quadrangle Blvd. Ste. 270

Orlando, FL 32817
LaneA@pfm.com II (407) 723--5925	RECEIVED
By Amanda Lane at 4:23 pm, Jan 17, 2023

LAUREL ROAD
COMMUNITY	DEVELOPMENT	DISTRICT

Funding Request No. 091

1/25/2023		
Item No.	Vendor	Invoice Number	General Fund	

1	
Vogler Ashton			
	General Counsel Through 12/31/2022	531	$	220.00	
		
TOTAL	
$	220.00	

!/��	

Secretary I Assistant Secretary	Board Member

Laurel Road COD
c/o PFM Group Consulting
3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817
LaneA@pfm.com II (407) 723-5925	Received on Thursday, January 26, 2023 - Alane

Laurel Road Community Development District

District Financial Statements

Laurel Road CDD
Statement of Financial Position As of 12/31/2022

General Fund	Debt Service Fund		Capital Projects Fund	
	
Assets			

$9,575.69				
6,146.25				
	$327,259.38			
	164,843.75			
	23.32			
	0.05			
			$4,564,218.60	
$15,721.94	$492,126.50		$4,564,218.60	
$0.00	$0.00		$0.00	
$15,721.94	$492,126.50		$4,564,218.60	

Long-Term Debt		Total	

$0.00		

$9,575.69 6,146.25
327,259.38
164,843.75
23.32
0.05
4,564,218.60
$5,072,067.04	

$492,126.50 21,857,873.50
$22,350,000.00		
$492,126.50 21,857,873.50
$22,350,000.00	
$22,350,000.00		$27,422,067.04	

Current Assets
General Checking Account
Accounts Receivable - Due from Developer Series 2021A1 Debt Service Reserve Series 2021A2 Debt Service Reserve Series 2021A Revenue
Series 2021A2 Interest
Series 2021A Acquisition/Construction Total Current Assets

Investments
Amount Available in Debt Service Funds Amount To Be Provided
Total Investments

Total Assets

Page 1 of 2

Laurel Road CDD

Long-Term Debt		Total	

$0.00		

$4,335.00 6,146.25
105.00
595,838.74
$606,424.99	

$22,350,000.00
$22,350,000.00		
$22,350,000.00
$22,350,000.00	
$22,350,000.00		$22,956,424.99	

$0.00

$22,350,000.00		

($0.05) 3,898.74
1,342.00

865,543.13
(373,416.63)

6,835,756.09
(2,867,481.23)

$4,465,642.05

$27,422,067.04	

Statement of Financial Position As of 12/31/2022

General Fund

Debt Service		Capital Fund	Projects Fund

Liabilities and Net Assets

Current Liabilities Accounts Payable Deferred Revenue Accounts Payable Retainage Payable
Total Current Liabilities

Long Term Liabilities
Revenue Bonds Payable - Long-Term Total Long Term Liabilities

Total Liabilities

Net Assets
Net Assets, Unrestricted
Net Assets - General Government
Current Year Net Assets - General Government

Net Assets, Unrestricted
Current Year Net Assets, Unrestricted

Net Assets, Unrestricted
Current Year Net Assets, Unrestricted

Total Net Assets

Total Liabilities and Net Assets

6,146.25

$10,481.25		

$0.00		
$105.00 595,838.74
$595,943.74	
$0.00		$0.00		$0.00	
$10,481.25		$0.00		$595,943.74	

($0.05) 3,898.74
1,342.00

$5,240.69		

$865,543.13 (373,416.63)

$492,126.50		

$6,835,756.09 (2,867,481.23)
$3,968,274.86	
					
$15,721.94		$492,126.50		$4,564,218.60	

$4,335.00

Page 2 of 2

Laurel Road CDD Statement of Activities As of 12/31/2022

General Fund	Debt Service
Fund

Capital Projects Fund

Long-Term Debt

Total

Revenues

Off-Roll Assessments	$13,502.85								$13,502.85	
Developer Contributions	12,970.76								12,970.76	
Other Income & Other Financing Sources	0.64								0.64	
Inter-Fund Group Transfers In			($21.08)						(21.08)	
Inter-Fund Transfers In					$21.08				21.08	
Total Revenues	$26,474.25		($21.08)		$21.08		$0.00		$26,474.25	

Expenses

Supervisor Fees	$3,000.00								$3,000.00	
Public Officials' Liability Insurance	2,504.00								2,504.00	
Management	12,000.00								12,000.00	
District Counsel	1,958.50								1,958.50	
Legal Advertising	1,860.75								1,860.75	
Office Supplies	125.00								125.00	
Web Site Maintenance	450.00								450.00	
Dues, Licenses, and Fees	175.00								175.00	
General Insurance	3,059.00								3,059.00	
Interest Payments - A1 bond			$208,557.50						208,557.50	
Interest Payments - A2 bond			164,843.75						164,843.75	
Engineering					$7,046.35				7,046.35	
Contingency					2,860,516.64				2,860,516.64	
Total Expenses	$25,132.25		$373,401.25		$2,867,562.99		$0.00		$3,266,096.49	

Other Revenues (Expenses) & Gains (Losses)

Interest Income			$5.70						$5.70	
Interest Income					$60.68				60.68	
Total Other Revenues (Expenses) & Gains (Losses)	$0.00		$5.70		$60.68		$0.00		$66.38	
Change In Net Assets	$1,342.00		($373,416.63)		($2,867,481.23)		$0.00		($3,239,555.86)	

Net Assets At Beginning Of Year	
$3,898.69		
$865,543.13		
$6,835,756.09		
$0.00		
$7,705,197.91	

Net Assets At End Of Year	
$5,240.69		
$492,126.50		
$3,968,274.86		
$0.00		
$4,465,642.05	

Page 1 of 1

Laurel Road CDD
Budget to Actual
For the Month Ending 12/31/2022	
Year To Date	
	
Actual			
Budget			
Variance		FY 2023
Adopted Budget		

Revenues											
Off-Roll Assessments	$	13,502.85	$	-		$	13,502.85		$	-		
Developer Contributions	12,970.76	68,433.25			(55,462.49)		273,733.00		
Other Income & Other Financing Sources	0.64	-			0.64		-		
Net Revenues	

$	26,474.25	

$	68,433.25		$	(41,959.00)		

$	273,733.00		
General & Administrative Expenses											
Supervisor Fees	$	3,000.00		$	3,225.00		$	(225.00)		$	12,900.00		
Public Officials' Liability Insurance	2,504.00			-			2,504.00		-		
Trustee Services	-			1,500.00			(1,500.00)		6,000.00		
Management	12,000.00			12,000.00			-		48,000.00		
Engineering	-			3,750.00			(3,750.00)		15,000.00		
Dissemination Agent	-			250.00			(250.00)		1,000.00		
District Counsel	1,958.50			6,250.00			(4,291.50)		25,000.00		
Assessment Administration	-			1,375.00			(1,375.00)		5,500.00		
Audit	-			1,625.00			(1,625.00)		6,500.00		
Arbitrage Calculation	-			125.00			(125.00)		500.00		
Telephone	-			50.00			(50.00)		200.00		
Postage & Shipping	-			125.00			(125.00)		500.00		
Legal Advertising	1,860.75			2,000.00			(139.25)		8,000.00		
Miscellaneous	-			147.50			(147.50)		590.00		
Office Supplies	125.00			125.00			-		500.00		
Web Site Maintenance	450.00			228.75			221.25		915.00		
Dues, Licenses, and Fees	175.00			43.75			131.25		175.00		
Maintenance Staff	-			5,000.00			(5,000.00)		20,000.00		
Lifestyle Staff	-			5,000.00			(5,000.00)		20,000.00		
Total General & Administrative Expenses	

$	22,073.25		$	42,820.00		$	(20,746.75)		

$	171,280.00		

Field Operations Expenses											
Electric	$	-		$	875.00		$	(875.00)		$	3,500.00		
Water Reclaimed	-			1,250.00			(1,250.00)		5,000.00		
Equipment Rental	-			1,500.00			(1,500.00)		6,000.00		
General Insurance	3,059.00			1,488.00			1,571.00		5,952.00		
Property & Casualty Insurance	-			1,275.00			(1,275.00)		5,100.00		
Irrigation	-			50.00			(50.00)		200.00		
Lake Maintenance	-			4,500.00			(4,500.00)		18,000.00		
Landscaping Maintenance & Material	-			6,250.00			(6,250.00)		25,000.00		
Landscape Improvements	-			625.00			(625.00)		2,500.00		
Contingency	-			2,500.00			(2,500.00)		10,000.00		
Gate - Repairs & Maintenance	-			250.00			(250.00)		1,000.00		
Street Sweeping	-			3,750.00			(3,750.00)		15,000.00		
Lighting	-			50.00			(50.00)		200.00		
Bike Share	-			1,250.00			(1,250.00)		5,000.00		
Total Field Operations Expenses	

$	3,059.00		$	25,613.00		$	(22,554.00)		

$	102,452.00		

Total Expenses	
 $	25,132.25 		
 $		
68,433.00 		
 $		
(43,300.75)		
 $	273,732.00 		
Net Income (Loss)	$	1,342.00	$	0.25		$	1,341.75		$	1.00	*	

* The prior management company did not balance the budget for the Board.						

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