Indigo East Community Development District

Agenda May 15, 2018

AGENDA

Indigo East
Community  Development District
135 W. Central Blvd., Suite 320, Orlando, Florida 32801
Phone: 407-841-5524- Fax: 407-839-1526

May 8, 2018

Board of Supervisors Indigo East Community Development District

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The Board of Supervisors of the Indigo East Community Development District will meet on Tuesday, May 15, 2018 at 9:00 a.m., or as shortly thereafter as reasonably possible, at the Live Oak Hall, 8413 SW 80 Street, Suite 7-8, Ocala, FL. Following is the advance agenda for the meeting:

I.	Roll Call
IL	Public Comment Period
Notice for Meeting
Organizational Matters
Administration of Oath to Newly Appointed Supervisor
Approval of Minutes of the February 20, 2018 Meeting
Review and Acceptance of Fiscal Year 2017 Audit Report
Consideration of Resolution 2018-03 Approving the Proposed Budget for Fiscal Year 2019 and Setting a Public Hearing
Staff Reports
Attorney
Engineer
District Manager
Approval of Check Register
Balance Sheet and Income Statement
Presentation of Number of Registered Voters - 514
Presentation of Qualifying Information and Dates
Other Business
Supervisors Requests XL		Adjournment

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

Enclosed under the third order of business is the affidavit of publication associated with the public notice for this meeting.

The fourth order of business are the Organizational Matters. Section A is the administration of oath to the newly appointed supervisor.

The fifth order of business is the approval of the minutes from the February 20, 2018 meeting. The minutes are enclosed for your review.

The sixth order of business is the review and acceptance of Fiscal Year 2017 Audit Report. A copy of the report is being provided separately.

The seventh order of business is the consideration of Resolution 2018-03 approving the proposed budget for Fiscal Year 2019 and setting a public hearing.
The eighth order of business is Staff Reports. Section 1 of the District Managers Report includes the check register for approval and Section 2 includes the balance sheet and income statement for your review. Section 3 is the presentation of number of registered voters within the boundaries of the District. A copy of the letter from the Marion County Supervisor of Elections is enclosed for your review. Section 4 is the presentation of the qualifying information and dates. A copy of the information is enclosed for your review.
The balance of the agenda will be discussed at the meeting. In the meantime, if you have any questions, please contact me.
Sincerely,

George S. Flint District Manager

Cc:		Gerald Colen, District Counsel Ken Colen, On Top of the World
Guy Woolbright, On Top of the World Lynette Vermillion, On Top of the World Darrin Mossing, GMS

SECTION Ill

AFFIDAVIT OF PUBLICATION
Star-Banner
Published - Daily Ocala, Marion County, Florida
STATE OF FLORIDA COUNTY OF MARION
Bef9.I}L.!,he  ��ed,  a  Notary  Public  of  Said  County  and  State,

employee

who on oath says that they are an authorized of the Star-Banner, a daily newspaper published at Ocala, in Marion
County, Florida; that the attached copy of advertisement, being a notice in the matter of
NOTICE OF MEETING INDIGO EAST COMMUNITY DEVELOPMENT
DISTRICT The regular meeting ofthe Board ofSupervisors ofthe Indigo East Community Development District will be held on Tuesday, May 15, 2018 at 9:00 AM, or as shortly thereafter as reasonably possi

was published in said newspaper in the issues of:

514 lx

Affiant further says that the said STAR-BANNER is a daily newspaper published at Ocala, in said Marion County, Florida, and that the said newspaper has heretofore been continuously published in said Marion County, Florida, daily, and has been entered as second class mail matter at the post office in Ocala in said Marion County, Florida, for a period of one year next preceding the first publication of the attached copy of advertisement; and affiant further says that he has neither paid nor promised any person, firm or corporation any discount, rebate, commission or refund for the person of securing this advertisement for publication. in the said newspaper.

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HARMONY STALTER
Notary Public • State of Florida Commission # FF 956448
My Comm. Expires Feb 2, 2020

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(Print, Type or Stamp Name ofNotary Public)

MINUTES

MINUTES OF MEETING INDIGO EAST
COMMUNITY DEVELOPMENT DISTRICT
The Regular Meeting of the Board of Supervisors of the Indigo East Community Development District was held on Tuesday, February 20, 2018 at 9:00 a.m. at the Circle Square Commons Cultural Center at 8395 S.W. 80th Street, Ocala, Florida.

Present and constituting a quorum were:
John Gysen Frank DiPiero Harold Brouillard Terry Sloan
Also present were:
George Flint Rachel Wagner Robert Stepp Lynette Vermillion Residents

Chairman
Vice Chairman Assistant Secretary Assistant Secretary

District Manager District Counsel
On Top of the World Communities On Top of the World Communities

Due to a technical issue ·with the audio, the minutes were transcribed based on the District Manager's notes.

FIRST ORDER OF BUSINESS	Roll Call
Mr. Flint called the meeting to order and called the roll. All Supervisors were present.

SECOND ORDER OF BUSINESS	Public Comment Period
There being none, the next item followed.

THIRD ORDER OF BUSINESS	Notice for Meeting
Mr. Flint provided the affidavit of publication for the annual meeting notice, which was published in the Ocala Star Banner. He stated that the meeting location would change starting in May and the annual meeting notice would be revised.

FOURTH ORDER OF BUSNESS	Organizational Matters

February 20, 2018

Review of Letter of Interest
Mr. Flint received a letter of interest from Mr. Donald Barnes.

Indigo East CDD

Appointment of Individual to Fulfill the Board Vacancy with Term Ending November 2020

On MOTION by Mr. Gysen, seconded by Mr. DiPiero, with all in favor, Donald Barnes was appointed to fill the Board vacancy, with a term ending November 2020.

Administration of Oath to Newly Appointed Supervisor
Mr. Barnes was not present. This item was tabled until the next meeting.

Consideration of Resolution 2018-02 Electing Assistant Secretary

On MOTION by Mr. DiPiero seconded by Mr. Brouillard with all in favor, Resolution 2018-02, designating Donald Barnes as Assistant Secretary, was adopted.

FIFTH ORDER OF BUSINESS	Approval of Minutes of the November 21,
2017 Meeting
Mr. Flint presented the minutes of the November 21, 2017 meeting and asked for any additions, corrections or deletions.

On MOTION by Mr. Sloan, seconded by Mr. Gysen, with all in favor, the minutes of the November 21, 2017 meeting, were approved.

SIXTH ORDER OF BUSINESS	Ratification of License Agreement with
On Top of the World Communities, Inc.
Mr. Flint presented the signed License Agreement that the Board previously entered with On Top of the World Communities (OTOTWC), for the location and design of signs on a portion of Indigo East property, and requested ratification.

2

February 20, 2018	Indigo East CDD

On MOTION by Mr. Brouillard, seconded by Mr. DiPiero, with all in favor, the executed License Agreement with On Top of the World Communities, Inc., was ratified.

SEVENTH ORDEROF BUSINESS	Review and Acceptance of the Fiscal Year
2017 Draft Audit
Mr. Flint presented the draft Fiscal Year 2017 Audit and requested acceptance.

On MOTION by Mr. Gysen, seconded by Mr. Brouillard, with all in favor, the draft Fiscal Year 2017 Audit Report was accepted and Staff was authorized to transmit the final to the State of Florida.

EIGHTH ORDER OF BUSINESS
Attorney
There not being any, the next item followed.
Engineer
There not being any, the next item followed.
District Manager

Staff Reports

Approval of Check Register
Mr. Flint presented the Check Register for November 15, 2017 through February 9, 2018, totaling $140,566.74. Mr. Gysen asked why streetlight costs were fluctuating. Mr. Flint stated he would research this matter.

On MOTION by Mr. DiPiero, seconded by Mr. Brouillard, with all in favor, the Check Register was approved.

Balance Sheet and Income Statement
Mr. Flint presented the Unaudited Financial Statements for January 31, 2018. No action was required.

Consideration of Series 2016 Arbitrage Report
Mr. Flint presented the Arbitrage Rebate Calculation Report for the Series 2016 Bonds, which indicated a negative cumulative rebate requirement.

3

February 20, 2018	Indigo East COD

On MOTION by Mr. Gysen, seconded by Mr. Sloan, with all in favor, the final Arbitrage Rebate Calculation Report for the Series 2016 Bonds was accepted.

NINTH ORDER OF BUSINESS	Other Business
There being none, the next item followed.

TENTH ORDER OF BUSINESS	Supervisors Requests
There being none, the next item followed.

ELEVENTH ORDER OF BUSINESS	Adjournment

On MOTION by Mr. Solan, seconded by Mr. Brouillard, with all in favor, the meeting was adjourned.

Secretary / Assistant Secretary	Chairman / Vice Chairman

4

SECTION VI

INDIGO EAST COMMUNITY DEVELOPMENT DISTRICT
MARION COUNTY, FLORIDA FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017

INDIGO EAST COMMUNITY DEVELOPMENT DISTRICT MARION COUNTY, FLORIDA

TABLE OF CONTENTS

Page
INDEPENDENT AUDITOR’S REPORT	1-2
MANAGEMENT’S DISCUSSION AND ANALYSIS	3-6
BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements:
Statement of Net Position	7
Statement of Activities	8
Fund Financial Statements:
Balance Sheet – Governmental Funds	9
Reconciliation of the Balance Sheet – Governmental Funds to the
Statement of Net Position	10
Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds	11
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities	12
Notes to the Financial Statements	13-22
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – General Fund	23
Notes to Required Supplementary Information	24
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS	25-26
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	27
MANAGEMENT LETTER REQUIRED BY CHAPTER 10.550 OF THE RULES
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	28-29

2700 North Military Trail ▪ Suite 350 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR’S REPORT

To the Board of Supervisors
Indigo East Community Development District Marion County, Florida

Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities and each major fund of Indigo East Community Development District, Marion County, Florida (“District”) as of and for the fiscal year ended September 30, 2017, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the District as of September 30, 2017, and the respective changes in financial position thereof for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.

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

Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated February 23, 2018, 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 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 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.
Report on Other Legal and Regulatory Requirements
We have also issued our report dated February 23, 2018 on our consideration of the District’s compliance with the requirements of Section 218.415, Florida Statutes, as required by Rule 10.556(10) of the Auditor General of the State of Florida. The purpose of that report is to provide an opinion based on our examination conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.

February 23, 2018

2

MANAGEMENT’S DISCUSSION AND ANALYSIS

Our discussion and analysis of Indigo East Community Development District, Marion County, Florida (“District”) provides a narrative overview of the District’s financial activities for the fiscal year ended September 30, 2017. 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 of the District exceeded its liabilities at the close of the most recent fiscal year resulting in a net position balance of $1,526,614.

The change in the District’s total net position in comparison with the prior fiscal year was
$376,468, 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, 2017, the District’s governmental funds reported combined ending fund balances of $931,130, an increase of $109,137 in comparison with the prior fiscal year. The total fund balance is restricted for debt service, non-spendable for prepaid items, assigned for renewal and replacement 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.

The government-wide financial statements include all governmental activities that are principally supported by special assessment revenues. The District does not have any business-type activities. The governmental activities of the District include the general government (management) and maintenance functions.

Fund Financial Statements

A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The District has one fund category: governmental funds.

3

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 individual governmental funds. 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, debt service, and capital projects funds, all of which are considered 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.

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 exceeded liabilities at the close of the most recent fiscal year.

Key components of the District’s net position are reflected in the following table:

NET POSITION
SEPTEMBER 30,		
	2017	2016	
Current and other assets	$	941,285	$	862,784	
Capital assets, net of depreciation	2,197,151	2,271,299	
Total assets	3,138,436	3,134,083	
Current liabilities	36,822	83,937	
Long-term liabilities	1,575,000	1,900,000	
Total liabilities	1,611,822	1,983,937	
Net Position			
Net investment in capital assets	622,151	371,299	
Restricted	335,635	290,638	
Unrestricted	568,828	488,209	
Total net position	$ 1,526,614	$ 1,150,146	

4

GOVERNMENT-WIDE FINANCIAL ANALYSIS (Continued)

The District’s net position reflects its investment in capital assets (e.g. land, land improvements, and infrastructure); less any related debt used to acquire those assets that is still outstanding. These assets are used to provide services to residents; consequently, these assets are not available for future spending. Although the District’s investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.

The restricted portion of the District’s net position represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net position may be used to meet the District’s other obligations.

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:

CHANGES IN NET POSITION
FOR THE FISCAL YEAR ENDED SEPTEMBER 30,
2017	2016
Revenues:

Charges for services	$	773,662	$	402,499	
Operating grants and contributions	388	2,862	
Unrestricted investment earnings	5,346	149	
Total revenues	779,396	405,510	
Expenses:			
General government	42,894	42,682	
Maintenance and operations	187,423	212,209	
Interest	80,975	105,276	
Bond issue costs	91,636	-	
Total expenses	402,928	360,167	
Change in net position	376,468	45,343	
Net position - beginning	1,150,146	1,104,803	
Net position - ending	$ 1,526,614	$ 1,150,146	

Program revenues

General revenues

As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year ended September 30, 2017 was $402,928. The costs of the District’s activities were paid by program revenues. Program revenues, comprised primarily of assessments, increased during the fiscal year as a result of an increase in prepayment revenue. In total, expenses, including depreciation, increased from the prior fiscal year, the majority of the increase was the result of bond issuance costs incurred in the current year.

GENERAL BUDGETING HIGHLIGHTS

An operating budget was adopted and maintained by the governing board for the District pursuant to the requirements of Florida Statutes. The budget is adopted using the same basis of accounting that is used in preparation of the fund financial statements. The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2017.

5

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets

At September 30, 2017, the District had $2,938,631 invested in capital assets for its governmental activities. In the government-wide financial statements depreciation of $741,480 has been taken, which resulted in a net book value of $2,197,151. More detailed information about the District’s capital assets is presented in the notes of the financial statements.

Capital Debt

At September 30, 2017, the District had $1,575,000 in Bonds outstanding for its governmental activities. More detailed information about the District’s capital debt is presented in the notes of the financial statements.

ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND OTHER EVENTS

The District does not anticipate any major projects or significant changes to its infrastructure maintenance program for the subsequent fiscal year. In addition, it is anticipated that the general operations of the District will remain fairly constant.

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 Indigo East Community Development District’s Finance Department at 135 West Central Boulevard, Suite 320, Orlando, Florida, 32801.

6

INDIGO EAST COMMUNITY DEVELOPMENT DISTRICT MARION COUNTY, FLORIDA
STATEMENT OF NET POSITION SEPTEMBER 30, 2017

	Governmental
Activities	
ASSETS		
Cash	$	77,871	
Investments	852,083	
Accrued interest receivable	289	
Prepaids and other	11,042	
Capital assets		
Nondepreciable	1,046,428	
Depreciable, net	1,150,723	
Total assets	3,138,436	
LIABILITIES		
Accounts payable	10,155	
Accrued interest payable	26,667	
Non-current liabilities:		
Due within one year	55,000	
Due in more than one year	1,520,000	
Total liabilities	1,611,822	
NET POSITION		
Net investment in capital assets	622,151	
Restricted	335,635	
Unrestricted	568,828	
Total net position	$	1,526,614	

See notes to the financial statements

7

INDIGO EAST COMMUNITY DEVELOPMENT DISTRICT MARION COUNTY, FLORIDA STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017

Program Revenues Charges	Operating

Net (Expense) Revenue and Changes in Net Position

for	Grants and	Governmental
Functions/Programs	Expenses	Services	Contributions	Activities Primary government:
Governmental activities:

General government

$	42,894	$

42,894	$	-	$	-

Maintenance and operations	187,423	153,760	-	(33,663)	
Interest on long-term debt	80,975	577,008	388	496,421	
Bond issue costs	91,636	-	-	(91,636)	
Total governmental activities	402,928	773,662	388	371,122	

General revenues:
Unrestricted investment earnings	5,346	
Total general revenues	5,346	
Change in net position	376,468	
Net position - beginning	1,150,146	
Net position - ending	$	1,526,614	

See notes to the financial statements

8

INDIGO EAST COMMUNITY DEVELOPMENT DISTRICT MARION COUNTY, FLORIDA
BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2017

Major Funds	Total

Debt	Capital
General	Service	Projects

Governmental Funds

ASSETS		
Cash	$	77,871	$	-	$	-	$	77,871	
Investments	-	362,112	489,971	852,083	
Accrued interest receivable	-	190	99	289	
Prepaids and other	11,042	-	-	11,042	
Total assets	$	88,913	$	362,302	$	490,070	$	941,285	

LIABILITIES AND FUND BALANCES
Liabilities:
Accounts/Contracts payable	$	10,155	$	-	$	-	$	10,155	
Total liabilities	10,155	-	-	10,155	

Fund balances:
Nonspendable:
Prepaid items
Restricted for:	11,042	-	-	11,042	
Debt service	-	362,302	-	362,302	
Assigned to:			
Renewal and replacement	-	-	490,070	490,070	
Unassigned	67,716	-	-	67,716	
Total fund balances	78,758	362,302	490,070	931,130	

Total liabilities and fund balances

$	88,913

$	362,302	$

490,070

$	941,285

See notes to the financial statements

9

INDIGO EAST COMMUNITY DEVELOPMENT DISTRICT MARION COUNTY, FLORIDA
RECONCILIATION OF THE BALANCE SHEET TO THE STATEMENT OF NET POSITION GOVERNMENTAL FUNDS
SEPTEMBER 30, 2017

Fund balance - governmental funds	$
Amounts reported for governmental activities in the statement of net position are different because:
Capital assets used in governmental activities are not financial resources and, therefore, are not reported as assets in the governmental funds. The statement of net position includes those capital assets, net of accumulated depreciation, in the assets of the government as a whole.
Cost of capital assets	2,938,631

931,130

Accumulated depreciation	(741,480)	2,197,151
Liabilities not due and payable from current available resources are not reported as liabilities in the governmental fund financial statements. All liabilities, both current and long-term, are reported in the government-wide financial statements.
Accrued interest payable	(26,667)		
Bonds payable	(1,575,000)	(1,601,667)	
Net position of governmental activities		$ 1,526,614	

See notes to the financial statements

10

INDIGO EAST COMMUNITY DEVELOPMENT DISTRICT MARION COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017

General	Major Funds Debt
Service	
Capital Projects	Total Governmental
Funds	
REVENUES
Assessments	
$	196,654	
$	577,008	
$	-	
$	773,662	
Interest	183	388	5,163	5,734	
Total revenues	196,837	577,396	5,163	779,396	

EXPENDITURES
Current:
General government	42,894	-	-	42,894
Maintenance and operations	113,275	-	-	113,275 Debt Service:
Principal	-	215,000	-	215,000
Interest	-	97,454	-	97,454
Bond issue costs		-		-	91,636		91,636 Total expenditures	156,169	312,454	91,636	560,259

Excess (deficiency) of revenues

Interfund transfer in	-	3,635	21,358	24,993	
Interfund transfer out	(24,993)	-	-	(24,993)	
Bond proceeds	-	1,649,733	95,267	1,745,000	
Payment to refunded bond escrow agent	-	(1,855,000)	-	(1,855,000)	
Total other financing sources (uses)	(24,993)	(201,632)	116,625	(110,000)	
Net change in fund balances	15,675	63,310	30,152	109,137	
Fund balances - beginning	63,083	298,992	459,918	821,993	
Fund balances - ending	$	78,758	$	362,302	$	490,070	$	931,130	

over (under) expenditures	40,668	264,942	(86,473)	219,137 OTHER FINANCING SOURCES (USES)

See notes to the financial statements

11

INDIGO EAST COMMUNITY DEVELOPMENT DISTRICT MARION 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, 2017

Net change in fund balances - total governmental funds	$	109,137	
Amounts reported for governmental activities in the statement of activities are different because:		
Depreciation on capital assets is not recognized in the governmental fund financial statements, but is reported  as an expense in the statement  of activities.	

(74,148)	
Repayment of long-term liabilities are reported  as expenditures in the governmental fund financial statements, but such repayments reduce liabilities in the statement of net position and  are eliminated  in  the  statement  of activities.	

215,000	
Governmental funds report Bond proceeds when debt is first issued, whereas these proceeds are eliminated in the statement of activities and recognized as long-term liabilities in the statement of net position.	

(1,745,000)	
Governmental funds  report amounts transferred to the escrow agent in connection with the issuance of refunding Bonds as a financing use, whereas these amounts are eliminated in the statement of activities and  reduce long- term liabilities in the statement of net position.	

1,855,000	
The change in accrued interest on long-term  liabilities  between  the  current and prior fiscal year is recorded in the statement of activities but not in the governmental fund financial statements.	

16,479	
Change in net position of governmental activities	$	376,468	

See notes to the financial statements

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INDIGO EAST COMMUNITY DEVELOPMENT DISTRICT MARION COUNTY, FLORIDA
NOTES TO FINANCIAL STATEMENTS NOTE 1 ‐ NATURE OF ORGANIZATION AND REPORTING ENTITY
Indigo East Community Development District ("the District") was created on November 19, 2002 pursuant
to Ordinance No. 02-26 enacted by the County Commission of the Marion County, Florida, under 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 a five-member Board of Supervisors ("Board"). The Supervisors are elected by the owners of the property within the District. 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:
Assessing and levying assessments.
Approving budgets.
Exercising control over facilities and properties.
Controlling the use of funds generated by the District.
Approving the hiring and firing of key personnel.
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 Board of Supervisors is considered to be financially accountable, and other organizations for which the nature and significance of their relationship with the District are such that, if excluded, the financial statements of the District would be considered incomplete or misleading. There are no entities considered to be component units of the District; therefore, the financial statements include only the operations of the District.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Government-Wide and Fund Financial Statements
The basic financial statements include both government-wide and fund financial statements.

The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements.

The statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers who purchase, use or directly benefit from goods, services or privileges provided by a given function or segment. Operating- type special assessments for maintenance and debt service are treated as charges for services, and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Other items not included among program revenues are reported instead as general revenues.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Measurement Focus, Basis of Accounting and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Assessments are recognized as revenues in the year for which they are levied. Grants and similar items are to be recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are 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 at a public hearing of the District. 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 the 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 are 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 Funds
The debt service funds are used to account for the accumulation of resources for the annual payment of principal and interest on the Bonds.

Capital Projects Fund
This fund accounts for the financial resources to be used for the acquisition or construction of major infrastructure and for the accumulation of renewal and replacement reserves.

As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements.

When both restricted and unrestricted resources are available for use, it is the government’s policy to use restricted resources first for qualifying expenditures, then unrestricted resources as they are needed.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity

Restricted Assets
These assets represent cash and investments set aside pursuant to Bond covenants or other contractual restrictions.

Deposits and Investments
The District’s cash 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:

The Local Government Surplus Trust Funds, or any intergovernmental investment pool authorized pursuant to the Florida Inter-local Cooperation Act;
Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency;
Interest bearing time deposits or savings accounts in qualified public depositories;
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.

The District records all interest revenue related to investment activities in the respective funds. Investments are measured at amortized cost or reported at fair value as required by generally accepted accounting principles.

Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements.

Capital Assets
Capital assets which include property, plant and equipment, and infrastructure assets (e.g., roads, sidewalks and similar items) are reported in the government activities columns in the government-wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than $5,000 (amount not rounded) and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the date of donation.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity (Continued)

Capital Assets (Continued)
Property, plant and equipment of the District are depreciated using the straight-line method over the following estimated useful lives:
Assets	Years
Stormwater drainage system	30
Entry features, landscape, security and other	25

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.

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
Deferred outflows of resources represent a consumption of net position that applies to future reporting period(s). For example, the District would record deferred outflows of resources on the statement of net position related to debit amounts resulting from current and advance refundings resulting in the defeasance of debt (i.e. when there are differences between the reacquisition price and the net carrying amount of the old debt).

Deferred inflows of resources represent an acquisition of net position that applies to future reporting period(s). For example, when an asset is recorded in the governmental fund financial statements, but the revenue is unavailable, the District reports a deferred inflow of resources on the balance sheet until such times as the revenue becomes available.

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.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity (Continued)

Fund Equity/Net Position (Continued)
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.

Each year, the District Manager submits to the District Board a proposed operating budget for the fiscal year commencing the following October 1.
Public hearings are conducted to obtain public comments.
Prior to October 1, the budget is legally adopted by the District Board.
All budget changes must be approved by the District Board.
The budgets are adopted on a basis consistent with generally accepted accounting principles.
Unused appropriation for annually budgeted funds lapse at the end of the year.

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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, 2017:

Amortized Cost	Credit Risk	Maturities	
Investment in Local Government Surplus Fund (Florida PRIME)	Funds Trust	
$	489,971	
S&P AAAm	Weighted average of the fund portfolio: 51 days	
US Bank Money Market Fund		362,112	N/A	N/A	
		$	852,083			

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.

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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, 2017, 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 TRANSFERS

Interfund transfers for the fiscal year ended September 30, 2017 were as follows:

Fund	Transfer in	Transfer out	
General fund	$	-	$	24,993	
Debt service	3,635	-	
Capital projects	21,358	-	
Total	$	24,993	$	24,993	

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 general fund to the capital projects funds were made primarily to move monies from the operating account into a capital reserve account of the District for use on repair and replacement projects.

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NOTE 6 - CAPITAL ASSETS

Capital asset activity for the fiscal year ended September 30, 2017 was as follows:

Governmental activities
Capital assets, not being depreciated	Beginning Balance	Ending Additions	Reductions	Balance	
Land and land improvements	$	1,046,428	$	-	$	-	$	1,046,428	
Total capital assets, not being depreciated	1,046,428	-	-	1,046,428	
Capital assets, being depreciated Stormwater drainage system	
231,014	
-	-	231,014	
Entry features, landscape, security and other	1,661,189	-	-	1,661,189	
Total capital assets, being depreciated	1,892,203	-	-	1,892,203	
Less accumulated depreciation for: Stormwater drainage system	
69,300	
7,700	-	77,000	
Entry features, landscape, security and other	598,032	66,448	-	664,480	
Total accumulated depreciation	667,332	74,148	-	741,480	
Total capital assets, being depreciated, net	1,224,871	(74,148)	-	1,150,723	
Governmental activities capital assets, net	$	2,271,299	$	(74,148)   $	-	$	2,197,151	

The infrastructure of the District is being built in phases. Phase I of the 2006 project was funded by the District and has been completed. The total cost of phase I was about $3.1 million. Certain improvements were conveyed to various government entities upon completion.

Phase II of the project will be funded by the Developer. The total cost of phase II has been estimated at
$2.7 million. Construction of phase II of the project has been postponed due to current market conditions. Depreciation was charged to the maintenance and operations function.
NOTE 7 – LONG-TERM LIABILITIES

Series 2006
On April 21, 2006, Bay Laurel Community Development District (“Bay Laurel”) issued conduit debt of
$5,340,000  of  Special  Assessment  Bonds,  Series  2006.    Bay  Laurel  loaned  the  Bonds  funds  of
$5,340,000 to the District. The Bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District. The Bonds are special limited obligations of the Bay Laurel, payable solely from and secured by pledged revenues to be collected by Indigo East Community Development District.  The Bonds are due May 1, 2037 with a fixed interest rate of 5.45%. Interest is to  be paid semiannually on each May 1 and November 1, commencing November 1, 2006 and the principal is to be paid annually on each May 1, commencing May 1, 2008 through May 1, 2037. In the current fiscal year, the Series 2006 Bonds were refunded with the issuance of the Series 2016 Special Assessment Revenue Refunding Bonds.

Series 2016
On November 17, 2016, Bay Laurel Community Development District (“Bay Laurel”) issued conduit debt of $1,745,000 of Special Assessment Revenue Refunding Bonds, Series 2016. Bay Laurel loaned the Bonds funds of $1,745,000 to the District. The proceeds of the Series 2016 Bonds will be applied to refund the outstanding Series 2006 Bonds. The Bonds are special limited obligations of the Bay Laurel, payable solely from and secured by pledged revenues to be collected by Indigo East Community Development District. The Bonds consist of term Bonds due May 1, 2037 with a fixed interest rates from 3.00% to 4.5% to be paid semiannually on each May 1 and November 1, commencing May 1, 2017 and principal to be paid annually on each May 1, commencing May 1, 2017 through May 1, 2037.

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NOTE 7 – LONG-TERM LIABILITIES (Continued)

Series 2016 (Continued)
The Series 2016 Bonds are subject to optional redemption at the option of the District prior to their maturity. In addition, the Bonds are subject to extraordinary mandatory redemption prior to their selected maturity in the manner determined by the Bond Registrar if certain events occurred as outlined in the Bond Indenture. This occurred during the current fiscal year as the District collected prepaid assessments which were used to pay down the Bonds by $145,000.

The Bond Indenture established a debt service reserve requirement as well as other restrictions and the procedures to be followed by the District on assessments to property owners. The District agrees to levy special assessments in annual amounts adequate to provide payment of debt service and to meet the reserve requirements. The District was in compliance with the requirements at September 30, 2017.

Refunded Bonds
The District refunded the Series 2006 Special Assessment Bonds, which had an outstanding balance of
$1,855,000 at the time of the refunding with the proceeds from the Series 2016 Bonds. The refunding was a current refunding and resulted in a difference in cash flows required to pay the respective debt service of $260,040. The refunding resulted in an economic gain of $89,010. The refunded Bonds have been paid off as of September 30, 2017.

Long-term debt activity
Changes in long-term liability activity for the fiscal year ended September 30, 2017 were as follows:

Governmental activities Bonds payable:

Beginning
Balance	Additions	Reductions

Ending Balance

Due Within One Year

Series 2006	$   1,900,000	$	-	$ 1,900,000	$	-	$	-	
Series 2016	-	1,745,000	170,000	1,575,000	55,000	
Total	$   1,900,000	$   1,745,000	$ 2,070,000	$   1,575,000	$	55,000	

At September 30, 2017, the scheduled debt service requirements on the long-term debt were as follows:

Governmental Activities
Year ending
September 30:	Principal	Interest	Total
2018	$	55,000	$	64,000	$	119,000	
2019	55,000	62,350	117,350	
2020	60,000	60,700	120,700	
2021	60,000	58,600	118,600	
2022	60,000	56,500	116,500	
2023-2027	345,000	247,450	592,450	
2028-2032	415,000	172,613	587,613	
2033-2037	525,000	73,125	598,125	
Total	$	1,575,000	$	795,338	$	2,370,338	

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NOTE 8 - DEVELOPER TRANSACTIONS

The Developer owns a portion of land within the District; therefore, assessment revenues in the general and debt service funds include the assessments levied on those lots owned by the Developer.

Due to the decline in the demand for housing in Marion County, the Developer has found it necessary to lengthen the construction timeline for the development to coincide with market conditions. As a result, Phase II of the project has been delayed. A total of 705 residential units are expected in the District, of which Phase I contains 315 units and Phase II contains 390 units. The 390 units in Phase II are entirely owned by the Developer. As a result of the changes to the improvement plan and construction timeline, it was decided that the unspent construction funds that were going to be used to pay for a portion of Phase II of the project would be used to prepay a portion of the Series 2006 Bonds, and now the 2016 Bonds, during a prior fiscal year. Accordingly, the debt service assessments on the Phase II units have been eliminated as these units are in the phase of the development where no infrastructure has been built (and thus receive no benefit or reduced benefit as a result of the change to the improvement plan) in exchange for the Developer assuming financial responsibility for constructing the balance of the improvement plan.

NOTE 9 - CONCENTRATION

The District’s activity is dependent upon the continued involvement of the Developer, the loss of which could have a material adverse effect on the District’s operations.

NOTE 10 - 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 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. There were no settled claims during the past three years.

NOTE 12 - INTERLOCAL AGREEMENT

On April 7, 2003, the District entered into an Inter-local Agreement with Bay Laurel whereby Bay Laurel has the sole and exclusive right to sell and deliver to the District’s residents, and the District’s residents shall purchase and receive from Bay Laurel, utility services at the rates, fees, and charges set by Bay Laurel. Bay Laurel has the power and authority to establish reasonable rules and standards governing  the delivery of utility services pursuant to the terms of the agreement.

On February 13, 2006, the District entered into an Inter-local Agreement with Bay Laurel whereby Bay Laurel agreed to issue Series 2006 Bonds – as discussed in Note 7. According to the terms of the agreements, Bay Laurel loaned a part of the proceeds of the Bond issuance to the District to finance the cost of the acquisition of the Developer’s rights or interest in the Development Improvements, including the real property acquisitions and other related purposes, the terms of which are outlined in the Development Improvement Acquisition Agreement entered between the District and Bay Laurel on May 4, 2006. This agreement has been extended with the issuance of Series 2016 Refunding Bonds.

NOTE 13 – SUBSEQUENT EVENTS

Bond Payments
Subsequent to fiscal year end, the District prepaid $190,000 of the Series 2016 Bonds. The prepayment was an extraordinary mandatory redemption as outlined in the Bond Indenture.

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INDIGO EAST COMMUNITY DEVELOPMENT DISTRICT MARION COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017

	
Budgeted Amounts
Original & Final	

Actual Amounts	Variance with Final Budget - Positive
(Negative)	
REVENUES
Assessments	
$	195,929	
$	196,654	
$	725	
Interest	250	183	(67)	
Total revenues	196,179	196,837	658	

EXPENDITURES
Current:				
General government	43,973	42,894	1,079	
Maintenance and operations	152,206	113,275	38,931	
Total expenditures	196,179	156,169	40,010	
Excess (deficiency) of revenues over (under) expenditures	
-	
40,668	
40,668	
OTHER FINANCING SOURCES
Interfund transfer in (out)	
-	
(24,993)	
(24,993)	
Total other financing sources (uses)	-	(24,993)	(24,993)	
Net change in fund balances	$	-	15,675	$	15,675	
Fund balance - beginning		63,083		
Fund balance - ending		$	78,758		

See notes to required supplementary information

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INDIGO EAST COMMUNITY DEVELOPMENT DISTRICT MARION 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 did not exceed appropriations  for the fiscal year ended September 30, 2017.

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2700 North Military Trail ▪ Suite 350 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

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
Indigo East Community Development District Marion County, Florida

We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities and each major fund of Indigo East Community Development District, Marion County, Florida (the “District”) as of and for the fiscal year ended September 30, 2017, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our opinion thereon dated February 23, 2018.
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 may exist that have not been identified.
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.

25

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.

February 23, 2018

26

Grau& Associates
CERTIFIED  PUBLIC ACCOUNTANTS

2700 North Military Trail ▪ Suite 350 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

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
Indigo East Community Development District Marion County, Florida

We have examined Indigo East Community Development District, Marion 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, 2017. 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, whether due to fraud or error. We  believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the District’s compliance with specified requirements.

In our opinion, the District complied, in all material respects, with the aforementioned requirements for the fiscal year ended September 30, 2017.

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 Indigo East Community Development District, Marion County, Florida and is not intended to be and should not be used by anyone other than these specified parties.

February 23, 2018

27

2700 North Military Trail ▪ Suite 350 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

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

To the Board of Supervisors
Indigo East Community Development District Marion County, Florida

Report on the Financial Statements

We have audited the accompanying basic financial statements of Indigo East Community Development District, Marion County, Florida ("District") as of and for the fiscal year ended September 30, 2017, and have issued our report thereon dated February 23, 2018.

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 Accountant’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 February 23, 2018, 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:

Current year findings and recommendations.
Status of prior year findings and recommendations.
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 Indigo East Community Development District, Marion County, Florida and is not intended to be and should not be used by anyone other than these specified parties.

We wish to thank Indigo East Community Development District, Marion 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.

February 23, 2018

28

REPORT TO MANAGEMENT

CURRENT YEAR FINDINGS AND RECOMMENDATIONS

None

PRIOR YEAR FINDINGS AND RECOMMENDATIONS

None

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:

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, 2016.

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, 2017.

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, 2017.

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

The financial report filed with the Florida Department of Financial Services pursuant to Section 218.32(1)(a), Florida Statutes agrees with the September 30, 2017 financial audit report.

The District has not met one or more of the financial emergency conditions described in Section 218.503(1), Florida Statutes.

We applied financial condition assessment procedures and no deteriorating financial conditions were noted as of September 30, 2017. 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.

29

SECTION VII

RESOLUTION 2018-03
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE INDIGO EAST COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2018/2019 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW; ADDRESSING TRANSMITTAL, POSTING AND PUBLICATION REQUIREMENTS; ADDRESSING SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the District Manager has heretofore prepared and submitted to the Board of Supervisors ("Board") of the Indigo East Community Development District ("District") prior to June 15, 2018, a proposed budget ("Proposed Budget") for the fiscal year beginning October 1, 2018 and ending September 30, 2019 ("Fiscal Year 2018/2019"); and
WHEREAS, the Board has considered the Proposed Budget and desires to set the required public hearing thereon.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE INDIGO EAST COMMUNITY DEVELOPMENT DISTRICT:
PROPOSED BUDGET APPROVED. The Proposed Budget prepared by the District Manager for Fiscal Year 2018/2019 attached hereto as Exhibit A is hereby approved as the basis for conducting a public hearing to adopt said Proposed Budget.
SETTING A PUBLIC HEARING. A public hearing on said approved Proposed Budget is hereby declared and set for the following date, hour and location:

DATE: HOUR: LOCATION:

August 21, 2018
9:00 a.m.
Live Oak Hall
8413 SW 80th Street, Suite 7-8
Ocala, FL 34481

TRANSMITTAL OF PROPOSED BUDGET TO LOCAL GENERAL PURPOSE GOVERNMENT. The District Manager is hereby directed to submit a copy of the Proposed Budget to Marion County at least 60 days prior to the hearing set above.
POSTING OF PROPOSED BUDGET. In accordance with Section 189.016, Florida Statutes, the District's Secretary is further directed to post the approved Proposed Budget on the District's website at least two days before the budget hearing date as set forth in Section 2, and shall remain on the website for at least 45 days.

PUBLICATION OF NOTICE. Notice of this public hearing shall be published in the manner prescribed in Florida law.
SEVERABILITY. The invalidity or unenforceability of any one or more provisions ofthis Resolution shall not affect the validity or enforceability ofthe remaining portions ofthis Resolution, or any part thereof.
EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED THIS 15th DAY OF MAY, 2018.

ATTEST:

Secretary

INDIGO EAST COMMUNITY DEVELOPMENT DISTRICT

By: 	
Its:--------------

Indigo	East
Com munity Development District Proposed Budget
FY 2019 

Table of Contents

1

2-8

9

10

General Fund General Fund Narrative Capital Reserve Fund
Debt Service Fund - Series 2006B/2016

11-12  	___;_Amorti_,;zation

Schedule

----=--Se-.:rie:.....:......:s 2:;;,,_;;__;:

01�6

Indigo East
COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND

ADOPTED BUDGET
DESCRIPTION	FY2018
REVENUES:
MAINTENANCE ASSESSMENTS	$195,929 INTEREST		$250

!TOTAL REVENUES	$196,179
EXPENDITURES:

ADMINISTRATIVE:
SUPERVISOR FEE	$4,000
FICA EXPENSE	$306
ENGINEERING	$1,200
TRUSTEE FEES	$2,050
DISSEMINATION	$2,700
ARBITRAG E	$600
ASSESSMENT ROLL	$5,000
ATTORNEY	$6,000
ANNUAL AUDIT	$3,600
MANAGEMENT FEES	$7,244
INFORMATION TECHNOLOGY	$1,000
TELEPHONE	$100
POSTAGE	$1,450
PRINTING & BINDING	$800
INSURANCE	$6,650
LEGAL ADVERTISING	$1, 000
OTHER CURRENT CHARGES	$750
OFFICE SUPPLIES	$250
PROPERTY TAXES	$35
DUES, LICENSES, SUBSCRIPTIONS	$175

ACTUAL THRU 4/30/18

$194,207
$124

$194,331 

$77

$1,400
$0
$2,020
$1,958
$600
$5,000
$3,000
$3,600
$4,226
$583
$1,035
$252
$6,042
$0
$338
$59
$0
$175

PROJECTED NEXT
5 MONTHS

$1,722
$89

p,811

$2,000
$92
$1,200
$1,042
$0
$0
$3,000
$0
$3,018

$14

$417
$450
$350
$0
$460
$229
$60
$0
$0

TOTAL	PROPOSED
AS OF	BUDGET FY2019

$195,929	$195,929
$213	$250

$196,142

1196,119  1

$3,400	$4,000
$168	$306
$1,200	$1,200
$2,020	$2,050
$3,000	$2,700
$600	$600
$5,000	$5,000
$6,000	$6,000

$7,244

$7,244

$3,600	$3,600
$1,000	$1,000
$21	$100
$1,485	$1,500
$602	$800
$6,042	$6,650
$460	$1,000
$567	$700
$119	$200
$0
$175	$175

iTOTAL ADMIN ISTRATIVE

MAINTENANCE:    WATER EXPENSE ELECTRIC EXPENSE IRRIGATION REPAIRS RETENTION PONDS ROW MAINTENANCE PLANT REPLACEMENT TREE TRIMMING PRESSURE WAS HING
WELL MAINTENANCE/REPAIRS CONTINGENCY
TRANSFER OUT
iTOTAL MAINTENANCE iTOTAL EXPENDITU RES

$44,910

$12,000
$12,000
$3,000
$18,020
$55,238
$10,000
$3,000
$6,000
$0
$9,700
$22, 311 
$151,269

!196,179

$30,373

$9,307
$7,905
$2,229
$10,512
$52,766
$1,313
$0
$0
$0
$3, 176
$0

$87,209

!1171S82

$12,331

$550
$9,910
$770
$7,508
$19,761
$1,000
$1,500
$6,000
$0
$1,800
$17,429

$66,228

!42,704	$44,860 I

$9,857	$0
$17,816	$25,432
$2,999	$3,000
$18,020	$18,020
$72,527	$72,567
$2,313	$5,000
$1,500	$2,500
$6,000	$6,000
$0	$ 10,000
$4,976	$5,000
$17,429	$3,800
ps31437     11s 1,319  1
!196,142      $196,119 I

iEXCESS REVENUES tEXPENDITURES2	$0

Net Assessments Discounts & Collections (6%)
Gross Assessments
Total Units Assessments per Unit

$76,748

FY2016

�12,506

$195,929

705

FY2017
$195,929 i12,506
$208,435
705
p96

!0

t!76,7482

FY2018	FY2019

112,506

$195,929	$195,929
$208,435
705	705
!296	!296

Indigo East
Commu nit	Develo	ment District
Genera l Fund Budget Fiscal Year 20 19 
REVENUES:

Maintenance Assessments
The District will levy a non-ad valorem special assessment on all taxable property within the District, to fund all General Operating and Main tena nce Expenditures for the Fiscal Year.

Interest
The District receives interest earnings from its cash balance in the SunTrust operating account.

EXPENDITU RES:

Administrative:
Su ervisor Fees
The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4, 800 in one year. This amount is based u pon 5 Supervisors attending 4 monthly meetings.
FICA Ex ense
Represents the Employer's share of Social Security and Medica re taxes withheld from Board of Supervisors checks.
Engineering
The District's engineer wi ll be providing general engineering services to the District, e.g ., attendance and preparation for monthly meetings, reviewing i nvoices, and various projects assigned as directed by the Board of Supervisors. The District currently has an agreement with Dewberry Engineers Inc.
Trustee Fees
The District issued Series 2016 Special Assessment Refunding Bonds that a re administered by a Trustee at US Bank.
Dissemi nation
The District is requi red by the Security and Exchange Commission to comply with Rule 15c2- 12(b) (5) which relates to additional reporting req uirements for unrated bond issues. The District currently contracted with Governmental Management Services - Central Florida, LLC.

2

Indigo East
Communit	Develo ment District
General Fund Budget Fi sca l Year 20 19 
Arbitrage
The District has contracted with an independent certified public accountant to annually calculate the Distri ct's Arbitrage Rebate Liability on the Series 2016 Special Assessment Refunding Bonds. The District has an agreement with Grau & Associates for this service.
Assessment RoiI
Governmental Management Services - Central Florida, LLC serves as the District's collection agent and certifies the District's non-ad valorem assessments with the county tax collector.
Attorne
The District's legal counsel will be providing general legal services to the District, i.e. , attendance and preparation fo r monthly meetings, review operating and maintenance contracts, etc. The District currently has an agreement with Gerald R. Colen, P.A.

Annual Audit
The District is requi red annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Mana ement Fees
The District receives Management, Accounting and Admini strative  services as part of a Management Agreement with  Governmental Management Services - Central Florida, LLC. The services include, but a re not limited to, recording and transcription of board meetings, administrative services, budget p repa ration, all financial reporting, annual audits, etc.
Information Technolo
The District incurs 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 requi rements .
Tele hone
Telephone and fax machine.

Postage
Mailing of agenda packages, overnight deliveries, checks for vendors and any other requi red correspondence .

3

Indigo East
Com munit	Develo	ment District
General Fund Budget Fiscal Year 2019 

Printing & Bindi ng
Pri nting and	Binding agenda	packages  for  board	meetings,	printing of computerized checks, stationary, envelopes etc.

Insurance
The District's general liability & public offi cials liabil ity insu ran ce policy is with Florida Insu ran ce Al liance. The Florida Insu rance Alliance specializes in providing insurance coverage to governmental agencies.

Legal Advertising
The District is requi red to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation. The District does most of its legal adve rtising with Ocala Star- Ban ner.
Other Current Char  es
Includes bank cha rges and any other miscellaneous expenses that are incurred during the year.
Pro  ert	Taxes
The District pays annual property tax to the Marion County Tax Collector's Office .
Office Supplies
The District incurs cha rges for supplies that need to be pu rchased during the fiscal year, including copier and prin ter toner cartridges, paper, fi le folders, binders, pens, paper cl i ps, and other such office supplies. 

Dues Licenses & Subscri tions
The District is requi red to pay an annual fee to the Department of Economic Opportu nity for $175. This is the only expense under this category for the District.

4

Indigo East
Communit	Develo	ment District
General Fund Budget Fiscal Year 2019 

MAINTENANCE:
Electric Ex ense

To record the electric cost of street lighting and pumps for wells. The District has the following account with Sumter Electric Cooperative, Inc. (SECO) .

Description	Monthly	Annuallv	
Streetlighting	$1 ,636 	$19,632 	
Well Pumps	$400	$4,800	
Conti ngency		$1,000	
TOTAL		$25,432	

Irri ation Re ai rs
To record the cost of various repairs that may be needed to the i rrigation system. 

Retention Ponds
The District has contracted with Sharp Sites Services, LLC to provide the following services :

Turf Maintenance
A. Tu rf a reas unless otherwise specified will be mowed on a weekly basis in the growing season (April through October) . Du ri ng months not specified in the g rowing season (November through Ma rch) the tu rf will be mowed at least twice a month unless abnormal conditions arise. Typical yearly mowing schedules will allow for 38 mowings per year.

Ed in	Strin	Trimmin
A. Edging		of  all	ha rd	edges :	Sidewalks,	Driveways,		Cu rb lines	etc. adjacent to maintained p roperty wi ll be edged on a weekly basis during	the growing		season		in	conjunction	with	the	maintenance schedule. All storm water culverts will be string trimmed on a weekly basis during the g rowing season in conjunction with the maintenance schedule to ensu re vegetation will not obstruct discharge culvert a rea . Edging of all landscape beds will be done on a weekly basis to provide a crisp edge. Retention ponds with beds a reas will be edged using mechanical equipment such as an edger, string trimmer. Herbicidal edging is will not be acceptable. Bed lines will be edged with the intent to keep the same original design and will be enlarged if plant material g rowth warrants.

5

Indigo East
Communit	Develo	ment District
General Fund Budget Fiscal Year 20 19 

Bed Maintenance
A. Beds are to be free of weeds, trash and other debris at all times. Pre­ emergent and post-herbicidal applications may be  used  to  help control weed g rowth but hand weeding will be done "as needed ." 

Mulch
A. Pine Straw mulch will be added once per year in landscape bed areas. 

Tree Main tenance  Prunin	and Fertilization
A. Tree staking materials will be adjusted, tightened or removed to ensure proper g rowth .

Description Retention Ponds TOTAL
ROW Maintenance

Monthly
$1 ,502

Annually
$18,020
$18,020

The District has contracted with Earthsca pes Unlimited, Inc. to provide the following services :

Turf Fertiliza tion
A. St. Augustine Turf will be fertilized (3) times a year.

Turf Maintenance
A. Turf a reas unless otherwise specified will be mowed on a weekly basis in the growing season (April through October) . Du ring months not specified in the g rowing season (November through  Ma rch)  the turf will be mowed at least twice a month unless abnormal conditions arise.

Ed in	Strin	Trimmin
A.  Edging  of  all	hard  edges:	Sidewalks,	Driveways,  Cu rb	lines etc. adjacent to maintained p roperty will be edged on a weekly  basis  during	the  g rowing	season		in	conjunction	with  the	maintenance schedule. All storm water culverts will be string trimmed on a weekly basis during the g rowing season in conjunction with the maintenance schedule to ensure vegetation will not obstruct discharge culvert a rea . Edging of all landscape beds will be done on a weekly basis to p rovide a crisp edge. Retention ponds with beds a reas will be edged using mechanical equipment such as an edger, string trimmer. Herbicidal

6

Indigo East
Communit	Develo	ment District
General Fund Budget Fiscal Year 2019 
edging will not be acceptable. Bed lines will be edged with the intent to keep the same original design and will  be  enlarged  if  plant material g rowth warrants.

Bed Main tenance
A. Beds are to be free of weeds, trash and other debris at all times. Pre­ emergent and post-herbicidal applications may be used  to  help  control weed growth but hand weeding will be done "as needed".

Mulch
A. Pine Straw mulch will be added twice per year in landscape bed areas. 

Tree Maintenance  Prunin	and Fertilization

$3,293

A. Tree staking materials will be adjusted, tightened or removed to ensure proper g rowth .

Descriotion
Earthscapes Unlimited Inc	Monthly	Annually
$39,521 	
Everglades Pine Straw (8200 bales @ $4 .03/bale)		$33 046	
TOTAL		$72,567	
Plant Replacement
Estimated cost to replace damaged plants within the District.

Tree Trimmin 
Estimated cost for tree trimming within the District.

Pressure Washin 
Estimated cost to pressure wash,  annually, curbs, sidewalks and  common a reas maintained by the District.
Well Re airs and Maintenance
Estimated cost for repai rs and main tenan ce of the two wells. 

Contingency
To record the cost of any maintenance expenses that does not apply to any of the other accounts.

7

Indigo East
Communit	Develo	ment District
General Fund Budget Fiscal Year 2019 
Transfer Out
Funds transferred to the Capita l Reserve Fund for any capital outlay related expenses.

8

Indigo East
COMMUNITY DEVELOPMENT DISTRICT

CAPITAL RESERVE FUND

Description
REVENUES

ADOPTED BUDGET FY20 18

ACTUAL THRU 4/30/ 18

PROJECTED NEXT
S MONTHS

TOTAL THRU 9/30/18

PROPOSED BUDGET FY2019

Transfer In Interest
Ca rry Forward Surplus Total Revenues EXPENDITURES
Capital Outlay
jTotal Expenditures Excess Revenues

$22,3 11 

$489,942
$516,253

$4,000

$489,971
$494,391

$4,420

$0

$22,311 

$22,311 

$3,800

$66,228

$4,422

$556,199
$587,352

$8,842

$587,352
$599,151 

$8,000

$0
$0
$516,253

$0

$494,391

$0
$0
$92,961

$0
$0
$587,352

$0
$0 I
$599,151 

9

Indigo East
COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND SERIES 2016

Description
REVENUES
Assessments - Tax Roll Assessments - Prepayment
Interest Income
Carry Forward Surplus

Total Revenues
EXPENDITURES
Serles 2016 Special Call 11/1 Interest - 11/1
Principal - 5/1 Interest - 5/1
Special Call 5/1
Other Debt Service Cost

!Total Expenditures (ll Excess Revenues

ADOPTED		ACTUAL	PROJ ECTED		TOTAL BUDGET			THRU		N EXT			THRU FY2018	4/30/ 18	S MONTHS	9/30/ 18

$113,850	$98,532	$15,318	$1 13,850
$0	$132,111	$0	$132,111 
$200	$368	$215	$583
$236,474	$329,397	$0	$329,397

$350,524	$560,408	$15,533	$575,941

$135,000	$190,000	$0	$190,000
$32,000	$32,000	$0	$32,000
$55,000	$0	$55,000	$55,000
$32,000	$0	$28,097	$28,097
$0	$0	$170,000	$170,000
$0	$1, 140	$0	$1, 140

$254,000	$223,140	$253,097	$476,237

PROPOSED BUDGET FY2019

$1 13,850
$0
$200
$99,704

$213,754

$0
$23,788
$45,000
$23,788
$0
$0

$96,524	$337,268	($237,564)	$99,704	$121,179	
			Nov 1, 2019	$	23 ,113 	

$92,575 I

Net Assessments Discounts & Collections (6%)
Gross Assessments
Total Un its Assessments per Unit
(1) Excess Revenues will be util ized to pay November 1 semi-annual interest payment.

10 

$1 13,850
$7,267
$121,117
251
$483

Series 201 6 Special Assessment Revenue Refunding Bonds

AMORTIZATION SCHEDULE

(Term �ands Vue Com6ined)

Date	Balance	Principal	Interest	Annual	
11 /1/17	$	1 ,575,000	$	$	32,000.00	$	
5/1 /18 	$	1 ,575,000	$	55,000	$ 32,000.00	$	11 9,000	
11/1/18	$	1, 1 60,000	$	$	23,787.50	$	
5/1/19 	$	1,1 60,000	$	45,000	$	23,787.50	$	92,575	
11 /1/1 9	$	1, 115,000	$	$	23,11 2.50	$	
5/1 /20	$	1, 11 5,000	$	45,000	$	23, 11 2.50	$	91 ,225	
11 /1/20	$	1 ,070,000	$	$	22,325.00	$	
5/1 /21	$	1 ,070,000	$	45,000	$	22,325.00	$	89,650	
11 /1/21	$	1 ,025,000	$	$	21 ,537.50	$	
5/1 /22	$	1 ,025,000	$	45,000	$	21,537.50	$	88,075	
11/1 /22	$	980,000	$	$ 20,750.00	$	
5/1 /23	$	980,000	$	50,000	$ 20,750.00	$	91 ,500	
11 /1 /23	$	930,000	$	$	19,875.00	$	
5/1 /24	$	930,000	$	50,000	$	19,875.00	$	89,750	
11 /1/24	$	880,000	$	$	1 8,937.50	$	
5/1/25	$	880,000	$	50,000	$	18,937.50	$	87,875	
11 /1/25	$	830,000	$	$	18,000.00	$	
5/1 /26	$	830,000	$	55,000	$	18,000.00	$	91 ,000	
11/1 /26	$	775,000	$	$	16,865.63	$	
5/1/27	$	775,000	$	55,000	$	16,865.63	$	88,731	
11 /1 /27	$	720,000	$	$	15,731 .25	$	
5/1/28	$	720,000	$	60,000	$	15,731 .25	$	91,463	
11 /1/28	$	660,000	$	$	14,493.75	$	
5/1 /29	$	660,000	$	60,000	$	14,493.75	$	88,988	
11/1/29	$	600,000	$	$	13,256.25	$	
5/1 /30	$	600,000	$	65,000	$	1 3,256.25	$	91 ,51 3	
11 /1/30	$	535,000	$	$	11 ,91 5.63	$	
5/1 /31	$	535,000	$	65,000	$	11,91 5.63	$	88,831	
11/1 /31	$	470,000	$	$	10,575.00	$	
5/1/32	$	470,000	$	70,000	$	10,575.00	$	91 ,1 50	
11 /1/32	$	400,000	$	$	9,000.00	$	
5/1 /33	$	400,000	$	75,000	$	9,000.00	$	93,000	
11 /1 /33	$	325,000	$	$	7,31 2.50	$	
5/1 /34	$	325,000	$	75,000	$	7,31 2.50	$	89,625	
11 /1/34	$	250,000	$	$	5,625.00	$	
5/1/35	$	250,000	$	80,000	$	5,625.00	$	91 ,250	
11/1/35	$	1 70,000	$	$	3,825.00	$	

11 

Series 201 6 Special Assessment Revenue Refunding Bonds
AMORTIZATION SCHEDULE
Date	Balance	Principal	Interest	Annual
5/1/36	$	1 70,000	$	85,000    $	3,825.00    $	92,650
11 /1 /36	$	85,000	$	$	1 ,91 2.50 $
5/1/37	$	85,000	$	85,000	$	1 ,91 2.50	$	88,825	

Totals		$ 1,160,000	
$	557,675	$	1,717,675 !	

12 

SECTION VIII

SECTION C

SECTION 1

Indigo East
Community Development District
Summarx of Invoices
February 10, 2018 to May 06, 2018

Fund
General Fund

Date
2/16/18
2/23/18
3/1/18
3/5/18
3/13/18
3/15/18
3/23/18
3/29/18
4/5/18
4/6/18
4/13/18
4/16/18
4/19/18
4/30/18
5/1/18

Check No.'s
1227-1229
1230
1231-1235
1236
1237
1238-1241
1242
1243-1244
1245
1246
1247-1249
1250-1252
1253-1253
1254-1255
1256-1257

Amount

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

13,141.69
6,256.36
25,257.25
1,014.50
2,318.18
5,187.75
468.35
3,326.73
913.72
2,269.61

2,205.93
18.83
2,852.73
29,279.59

$

98,304.65

Payroll

February 2018 Frank Dipiero Harold Brouillard
John Gysen Terrance Sloan

50164
50165
50166
50167

$
$
$
$

184.70
184.70
200.00
184.70

$

754.10

$

99,058.75 j

3,793.43

BANK A INDIGO EAST CDD

A* P* 3* 0 C0RHECK  DATES  02/10/2018  -  05/06/201Y8EA* R* *-TO-DATEIANDCCIGOOUNETASSPTAY-AGBLENEERPARLEPAFUINDD/COMPUTER  CHECK  REGISTER	RUN	5/06/18	PAGE	1

CDHAECTKE    VEND#	• • D• A. T. EINVOINCEVO• I• C. E. •   • Y• R• MEOXPEDNPSTEDATCOCT. #. . SUB	SUBCLASS

VENDOR NAME

STATUS	AMOUNT	A. M. O• U• NCTHECK • • #• • . 

2/16/18 00032 

2/16/18 00047 

2/ 05/18  L8S21560 0S0WI  27 90T1H8 0T1ER3R2A0 C-E5 3R8D00-43000 

-	-	-	- -	-	-

2/05/18  M8E0DT8H0THTEJRR2A0C1E8 0M1ED3I2A0N-53800-43000 
-	-  -  - - -	- -	-	- -	-BAY LAUREL CENTER CDD

- - - - - - - - - - - - - -

2/14/18 41 672	201801 320 -53800-47300 

*	1,215.40
*	156.7 8

*

-  - -  -  -  -  - -  -  -  -1 -, 3 -7 2 -. 18-
3, 293 .43

001227 

2/16/18 00060 

- - - -

R-IGHT  OF  WAY  MAINT-JAN18	EARTHSCAPES  UNLIMITED  INC .

*	- -  -  - - - -  - -  - -3 -, 2 -93 -. 4 -3  001228 

2/14/18 140438	201802 300-13 100-10100 
- - -  - -IND-IGO-EA-ST  WELL-EL-EC-TRIC- -LE-NHART  ELECTRIC  COMPANY

8, 476 . 08
- -  - -  -  -  -  -  -  - -8 -, 4-76-. 0 -8  001229 

2/23/18 00035 

3/01/18 00002 

-	- - -	-

FY1 8  DEBT  ASSESSMENT

2/23/18 022 3 2018 2 0 1 80 2 300 -20700-10000 
- -  -  -  - -  -  - - -  -  -  - -  - -  - -IN-DIGO  EAST  CDD  C/0  USBANK
2/20/18  0P2R2E0P2 /0A1T8TE2N0D1 8C0D2D3M1 E0-ET5 I1N3G0 0-31500 

*	6,256 . 36

*

-  - -  -  - - -  - -  -  -6 -,2 -5 6-.3 -6  001230 

- -	- -	-	-

1,500 .00

3/01/18 00040 

-  -  -  -  - - -  - - -  - - - -  -  -  - -CO-LEN  &  WAGONER  P. A. 2/26/18  1 51 29 598BALES2 -0I1E802  B3A2S0 I-N5S3800-47300 
2/26/18  1 31 49 09 09  BALE2 S0-1 I8E02RO3A2D0W-A5Y3S800-47300 

330   BALES-IE  MODEL  CENTER

2/26/18  1 23 03 0   BALES2 -0I1E8 0C2OMM32 0. -C5E3N8T0E0R- 4 7. 300 

- - -	-	-	-1-, 50-0-. 00
*	2, 115. 75
*	13,7 02 .00
*	1,329 .90

- -	-	- -	-

*

001231 

3/01/18 00003 

2/26/18 1 2 0  1	2 0 1802 320 -53800 -47300 
- -  -  -  -  - -  - - -  -  - - -  - -  - -EV-ERGLADES  PINESTRAW,   INC .
2/20/18 6-095-08 201802 310-51300-42000 

*	- -

1,329 .90
-  -	-	-  -  18, 4 -77 -.5 5  00 1232 
178 . 01

- - - -

L-IV-ERY-2 -/13/18  	FE-DEX

- - -  -  -  -  -  - - -  -  -1-78-. 0 -1  001233 

3/0 1/18 00026 

3/01/18 00055 

3/05/18 00019 

-	- -

AUDIT  FYE  0 9 / 30 / 17  FINAL

2/01/18 16289	201 8 0 2 3 0 -51300-32200 

- - -	-	- -	-	- -	- -

-  -  -  - - -  -  - - -  -  - - -  -  -  - -GR-AU  AND  ASSOCIATES 2/27/18  3P5O2N2D  MOW2IN0G1-8F0E2B13820-53 800-4 7000 
-	- -	-	-	- - -	SHARP SITE SERVICES , LLC
3/01/18   1M7AN4  AGEMEN2T01F8E0E3S 3M1A0R- 51 813 00-34000 
INDE INDIGO EAST	BPEREGRINO

*	3,6 00 .00

*

-  -  - - -  -  -  -  -  - -3 -, 6-00 -. 0 -0  001234 
1,501 . 69

603. 67

*	- -  - -  - - -  -  -  - -1 -, 5-0 1-.6 -9  001235 

AP300R	YEAR-TO-DATEINADCCIGOOUNETAS SPTAY-AGBELNEERPARLEPAFUINDD/COMPUTER  CHECK  REGISTER	RUN	5/06/18	PAGE	2

#

*** CHECK DATES 02/10/2018 - 05/06/2018 *** 

BANK A INDIGO EAST COD

CHDAECTEK    VEND#	• • D• A• T• IENVOINCVEO• I• C• E••   . Y• R• EMXOPENDPSTEDATCOCT.#. . SUB	SUBCLASS 3/01/18 174	201803 310-5 1300-34 100 
3/01/18   1 I7N4FO  TECH2N0O1L8O0G3Y3M1A0R-51 81300 -3 1300 
3/01/18  1D7 4ISSEMINA2 0T1IO8N03FE3E1 0M-AR51 31 080-51000 

POSTAGE

3/ 01/18  1O7F4 FICE  SU2P0P1L8 0IE3 S310-51300-42000 

VENDOR NAME

STATUS
*
*
*
*
*

AMOUNT
83 .33
208 .33
27. 98 
6.59

• • . • CHECK • . . • . AMOUNT

3/ 01/18  1C7O4 PIES

201803 310-51300-42500 
GOVERNMENTAL MANAGEMENT SERVICES

84 .60 

1,0 14 . 50 001236 

3/13/18 00035 

3/15/18 00032 

3/12/18 03122018 201803 300-20700-10000 

- - - - - - - - - - - - - - - - - - -

FY18 DEBT ASSESSMENTS	INDIGO EAST COD C/0 USBANK 3/07/18 INDIRR77 201 802 320-53800-43000 
3/07/18  LSSW1 67070TIHR  C2 0T1C8U0L2DE3S2A0 C-53800-43000 
3/ 07/18  M8E20580THSWF  2709T1H8 0 T2ER3RA20 -CE5 3R8D00-43000 

- - - - - - - - - - - - - - - -

3/07/18  MBEODT8H2NTDEFRR2A0C1E8 0M2ED3I2A0N-53800-43000 

*	2, 318 . 18 

*	26 . 58
*	122 .90
*	16 . 02
*	15 .88

2,3 18 . 18 001237 

- - -

MED SW82ND PL/SW 78TH TER BAY LAUREL CENTER COD

*	- - -  -  -  -  -  -  - -  - - 1-8 1-. 3 -8  001238 

- -	- - -

3/15/18 00047 

3/15/18 00003 

3/15/18 00043 

3/12/18 4 1 995	2 0 1802 3 2 0	38 0 0 -47300 

- - - -	- - - -	-FE-DEX

RIGHT  OF  WAY  MAINT-FE B18

- - - - - - -  - - -  -  - -  -  -  -  - -EA-RTHSCAPES  UNLIMITED  INC . 3/06/18  6D-E1L0I8V-E5R9Y2 02 /1 28302 & 321 0/2-65/1 31 080-42000 
- -	-  -  - - -	- -
3/08/18 70116409 201 802 320-53800-4 3100 

3, 293 .43
- -	-  - -

- -	-	-

*	77 .89
- - -	- - -
*	1, 635. 05

3, 293 . 43 001239 

77 . 89 001240 

3/23/18 00035 

3/29/18 00032 

STREETLIGHTING - FEB18	SUMTER ELECTRIC COOPERATIVE , INC .

F Y 18  MARION  CTY  TAX  ASMNT

3/21/18 0 32 1 2 018 2 0 1803 300 -20 7 00 -10000 

BAY LAUREL CENTER CDD

INDIGO EAST COD C/0 USBANK 3/28/18  BLIRCRDDIG- 8W3 EL2 L0 1/M8E0T3 ER3 2/B0A-C5K3F8L0O0W-49000 
INDE INDIGO EAST	BPEREGRINO

-  - - - -  -  -  -  -  - -1 -, 63-5 -. 0-5  001241 

*

468 .35

*

-  -  -  - - -  - - - - - -4-68 -.3 -5  001242 1,825 . 04
1, 825 .04 001243 

AP30 0R	PAGE

YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	5/06/18	3

BANK A INDIGO EAST CDD

*** CHECK DATES 02/10/2018 - 05/06/2018 ***	INDIGO EAST - GENERAL FUND

DATE

CHECK    VEND#	. • D• A. T. EINVOINCEVO• I. C. E. .   . Y. RM• EOXPENDPSTEDATCOCT. #. . SUB	SUBCLASS  VENDOR  NAME

STATUS

AMOUNT

A. M• O. U. NCTHECK • •#• . . 

3/29/18 00055 
4/05/18 00019 

3/26/18  3P5O6N9D  MOW2IN0G1 8-M0A3R31 820-53800-47000 

- - - -	-	-	- - - - - - - -

-  -	-	-	SH-ARP  SITE  SERVICES,  LLC 4/02/18  1M7A5NAGEMEN2T01F8E0E4 S3A1 P0R- 51 813 00-34000 
4/02/18  1 7IN5FO  TECH2N0O1L8O0G4Y3A1P0R-15813 00-34100 
4/02/18  1D7 5ISSEMINA2T0I1O8N04FE3E1 0A-P5R1 31 080-31300 
4/02 /18  1O7 F5FICE  SU2P0P1 L8 0IE4S31 0-51300-51000 

*	1,501 . 69

*

- -  -  -  -  - -  - - -  -1-, 5-0 1-.69-
603 . 67
*	83 . 33
*	208 .33
*	.33
*

001244 

4/ 02/18  1P7O5STAGE  20 1804  310-51300-42000 

18 .06
- -	91 3. 72 00 1245 

4/06/18 00032 

4/06/18 00047 

-  -  -  -  -  - - - - -  -  - - -  -  - -GO-VERNMENTAL  MANAGEMENT  SERVICES 4/05 /18  INDIRR77  C2 T01C8U0L3DE3S2A0C-53800-43000 

MED  S W  82NDPL/SW  7 8THTERR

S W  77TH

4/05/18 MED82NDM	0 1 8 03 320- 53800 -43000 
-  - - - -  -  -  - - -  -  - - -  -  - -BA-Y  LAUREL  CENTER  CDD
3/27/18  4V2AL2 5V8E  REP2L0A1 C8E0M3EN3T20-538 00-4 3200 

- - - - - - - - - - - - -

*

25 .06

- -	- -

-

*	15 .8 8
- -	- -	-	40 . 94 001246 
*	2,228 . 67

500 . 00

2,2 28 . 67 001247 

4/13/18 00061 

4/13/18 00047 

EARTHSCAPES UNLIMITED INC .

AMORT DS 2 0 1 6 $ 1 7 0 0 0 0

4/06/18 1	2 0 1 8 04 3 1 -513 00-3 1300 
DISCLOSURE SERVICES LLC 4/09/18 42433	201 803 320-53800-47300 

*	- - - - - - - - - - - - - - -

*

- -  -  -  - - -  -  -  -  - -5-00 -. 0-0  001248 
3, 293.43

- - - -

R-IGHT  O-F-WAY  MA-IN-T-MAR-18 - -EA-RTHSCAPES  UNLIMITED  INC .

- -  - - - -  -  - - -  -3 -,2 -93 -. 43-

001249 

4/16/18 00032 

4/16/18 00003 

- -	- -	- -
4/05/18  LS8 21 56 0  0SWI  2790T1H8 0T3ERRA32 0C-E5 3R8D00-43000 

8 0TH  TERRACE  MEDIAN

4/05/18 MED8 0THM 20 1803 3 20 -53800-43000 
-  -  - - - -  - - -  -  -  - - -  -  - -BA-Y  LAUREL  CENTER  CDD
4/10/18  6D-E1L4 I6V-E3R3Y2 40 /1 38 -0 4 / 34 /1 108-5130 0-42000 

*	472 .42
*	21.62

*

-  - - -  -  -  - - -  -  - -4 -94 -. 0 -4  00 1250 
76 . 84

4/16/18 00043 

- - -  -  - -  - - - - - -  - - -  -  -  -FE-DEX

*	- - - - - - - - - -

76 .84 001251 

4/09/18  7 S0T1R1 6EE4 0TL9 IG2 H0T1 I8N0G3

-3 2M0A-R5 31 8 00-43100 
SUMTER ELECTRIC COOPERATIVE , INC .
INDE INDIGO EAST	BPEREGRINO

1,635.05

1, 635 . 05 00 1252 

INDIGO EAST - GENERAL FUND

A* P*3* 0C0RHECK  DATES  02/10/2018  -  05/06/201Y8EA*R* *-TO-DATE  ACCOUNTS  PAYABLE  PREPAID/COMPUTER  CHECK  REGISTER	RUN	5/ 06/18	PAGE	4
BANK  A  INDIGO  EAST  CDD

DATE

CHECK    VEND#	. . D. A. T• EINVOINCVE O• I• C• E• •   • Y• R• MEOXPENDPSTEDATCOCT.#. . SUB	SUBCLASS  VENDOR  NAME	STATUS

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

4/19/18 00035 

4/ 30/18 00047 

4/19/18 04192018 20 1804 300-20700-10000 

- - - - - - - - - - - - - - - - - - -

MARION CTY TAX DEBT ASMNT	INDIGO EAST CDD C/0 USBANK 4/18/18  4W2E6L3L7  TIE2 I0N18 04  320-53800-49000 

*	18 . 83

*

- - - - - - - - - -

-	- -	-	- -

1, 351 . 04

18.8 3 001253 

4/30/18 00055 

-  -  -  -  - - - - -  - - - -  - - -  -  -EA-RTHSCAPES  UNLIMITED  INC .

- - - -	- - - -	- -	-

4/23/18  3P6O0N3D  MOW2IN0G1-8A0P4R31 820-53800-47000 

- -	-  -  - - -	1-,35 1 .04-

- -	-	-

*	1, 501 .69

001254 

5/01/18 00056 

- -	-	-	-  -	SH-ARP  SITE  SERVICES,  LLC
5/01/18 05012018 201 805 300-58100-10000 

-  -	-  -	-  -  -  - 1-,5 -0 1 .6 -9  001255 
*	22, 311 .00

5/01/18 00035 

FY18 CAPITAL RESERVE FUND	INDIGO EAST COD C/0 STATE BOARD OF 5/01/18 050	018 2 0 1805 300 - 20700 -10000 

FY1 8  MARION  CTY  TAX  ASMNT

INDIGO EAST CDD C/0 USBANK
TOTAL FOR BANK A TOTAL FOR REGISTER

- - - - - - - - -  -

*

6, 968 . 59

98, 304 .65
98,304. 65

2-2 -, 3-1 1 -. 0-0  001256 
6, 968 .59 001257 

INDE INDIGO EAST	BPEREGRINO

SECTION 2

•	•	•	•	•	•

Indigo East
Com mun ity Development District

Unaudited Financial Reporting April 30, 2018

Gt-4S

Govemmantaf
Manag♦ment Semc•s
•

Table of Contents

Balance Sheet

General Fund

Debt Service Fund

Capital Reserve Fund

Month to Month

Long-Term Debt

Assessment  Receipt Schedule

Assets:
Cash
Accrued Interest Receivable Investments - Bonds
Series 2016 Reserve Revenue
Prepayments Costs of Issuance

Due from General Fund

Indigo East
Community Development District Combined Balance Sheet
For the Period Ended April 30, 2018
Governmental Fund Types
Debt
General Fund	Service
$161,705	---
$190

---	$32,905
$160,937
---	$169,942
---

---

Due from Capital		--	---	$0	
Total Assets	$161,705	$370,173	$458,503	$990,381	
Liabilities:					
Accounts Payable	$0	---	$0	
Due to Debt	$6,198	---	$6,198	

---	$6,198

Totals
Capital	(Memorandum Only) Reserves		2018

---

$161,705
$190

---	$32,905
---	$160,937
---	$169,942
---	$0
$458,503	$458,503
---	$6,198

---
---

Fund Balances:

Unassigned	$155,506	---	---	
Total Liabilities and Fund Equity	$161,705	$370,173	$458,503	

Restricted for Debt Service Restricted for Capital Projects Assigned

$370,173

---

---	--
---

---	$370,173
---	$0
$458,503	$458,503
$155,506
$990,381

Revenues:

Indigo East
COMMUNITY DEVELOPMENT DISTRICT
General Fund
Statement of Revenues & Expenditures For the Period Ended April 30, 2018
Adopted	Prorated Budget	Actual
Budget	Thru 4/30/18	Thru 4/30/18	Variance

Maintenance Assessments	$195,929	$194,207	$194,207		$0 Interest		$250		$146		$124	($22)
Total Revenues	$196,179	$194,353	$194,331	($22)1
Ex endltures:
Administrative

$933

$77

Supervisor Fees	$4,000	$2,333	$1,400
FICA Expense	$306	$179	$102
Engineering	$1,200	$700	$0	$700
Trustee Fees	$2,050	$2,050	$2,020	$30
Dissemination	$2,700	$1,575	$1,958	($383)
Arbitrage	$600	$600	$600	$0
Assessment Roll	$5,000	$5,000	$5,000	$0
Attorney	$6,000	$3,500	$3,000	$500
Annual Audit	$3,600	$3,600	$3,600	$0
Management Fees	$7,244	$4,226	$4,226	($0)

$52

Information Technology	$1,000	$583	$583	$0
Telephone	$100	$58	$7
Postage	$1,450	$846	$1,035	($190)
Printing & Binding	$800	$467	$252	$215
Insurance	$6,650	$6,650	$6,042	$608
Legal Advertising	$1,000	$583	$0	$583
Other Current Charges	$438	$338	$99
Office Supplies	$250	$146

Dues, Licenses, & Subscriptions		$175	$175		
Total Administrative	$44,910	$33,708	$30,373	$3,335 1	
Maintenance

Water Expense	
$12,000	
$7,000	
$9,307	
($2,307)	

Property Taxes	$35	$0	$0	$0

Electric Expense	$12,000	$7,000	$7,905	($905)
Irrigation Repairs	$3,000	$1,750	$2,229
Retention Ponds	$18,020	$10,512	$10,512	$0
ROW Maintenance	$55,238	$32,222	$52,766	($20,544)
Plant Replacement	$10,000	$1,313	$1,313	$0
Tree Trimming	$3,000	$1,750	$0	$1,750
Pressure Washing	$6,000	$3,500	$0	$3,500
Contingency	$9,700	$5,658	$3,176	$2,482
Transfer Out	$22,311	$0	$0	$0
Total Maintenance	$151,269	$70,706	$87,209	($16,503)1

($13,168)1

Total Expenditures	$196,179	$104,414	$117,582

�7!i,748

Excess Revenues (Expenditures)	�o

Fund Balance - Beginning Fund Balance - Ending

�78,758

�155,506

2

	Adopted Budget	Prorated Thru 4/30/18	Actual Thru 4/30/18	
Variance	
Revenues:					
Assessments - Tax Roll	$113,850	$98,532	$98,532	$0	
Prepayments	$0	$0	$132,111	$132,111	
Interest	$200	$117	$368	$252	

Total Revenues	I	$114,050	
$98,649	
$231,011	$132,362 I	
Ex enditures:					
Series 2016
Special Call 11/1	
$135,000	
$135,000	
$190,000	
($55,000)
	
Interest - 11/1	$32,000	$32,000	$32,000	$0	
Principal - 5/1	$55,000	$0	$0	$0	
Interest - 5/1	$32,000	$0	$0		
Total Expenditures	I	$254,000	$167,000	$222,000	,sss,oooi1	
OTHER SOURCES & USES					
OTHER DEBT SERVICE COSTS	$0	$0	($1,140)	($1,140)	
INTERFUND TRANSFERS	$0	$0	$0	$0	
TOTAL OTHER SOURCES & USES	I	$0	$0	($1,140)	so !	
Excess Revenues (Expenditures)	($139,950)		$7,871		
Fund Balance - Beginning	I	$236,474		$362,302		
Fund Balance - Ending	$96,524		$370,173		

Indigo East
Community Development District
Debt Service Fund - Series 2016
For the Period Ended April 30, 2018

3

Indigo East
Community Development District
Capital Reserves Fund
For the Period Ended April 30, 2018

Adopted Budget

Prorated Thru 4/30/18

Actual Thru 4/30/18

Variance

Revenues:
Transfer In Interest
Total Revenues Ex enditures:
Capital Outlay
Total Expenditures

Excess Revenues (Expenditures) Fund Balance - Beginning
Fund Balance - Ending

I

$22,311
$4,000
$26,311

$0
$2,333
$2,333

$0
$4,420
$4,420

$0
$2,087
$2,087 I

$0

$0
$0

I

$35,887
$35,887 ($31,468)
$489,971
$458,503

($35,887)

$26,311
$498,414
$524,725

4

Revenues:

Indigo East
COMMUNITY DEVELOPMENT DISTRICT
GENERAL FUND
Monthto Month Detaii

Oct	Nov	Dec	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Total

$27

$23

Maintenance Assessments	$2,053	$16,430	$132,629	$31,621	$4,680	$1,993	$4,801	so	$0	$0	$0	$0	$194,207

Interest

$7	$14

$20	$0	$0	$0	$0

$124

Transfer In	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0

Total Revenues	I	$2,061	$16,437	$132,643 Exp_enditl![es:

$2,016	$4,821	$0

$0	$0

$194,331 1

Administrative

Supervisor Fee	$0	$600

$0	$800	$0	$0	$0	$0	so
$0

$1,400

FICA Expense	$0	$31	$0	$0	$46	$0	$0	$0	$0
Engineering	$0	$0	$0	$0	$0	$0	$0	$0
Trustee Fees	$0	$0	$2,020	$0	$0	$0	$0	$0

so	$0	$77
$0	$0	$0	$0
$0	$0	$0	$2,020

Dissemination	$208	$208	$208	$208	$208	$208	$708	$0	$0	$0	$0	$0	$1,958
Arbitrage	$0	$0	$0	$600	$0	$0	$0	$0	$0	$0	$0	$600
Assessment Roll	$5,000	so	$0	$0	$0	$0	$0	$0	$0	$0	$0	S5,000

Attorney

$1,500	so	$0	$1,500

$0	$0	$0	$0	$3,000

$604

Annual Audit	$0	$0	$0	S3,600	$0	$0	$0	$0	$0	$0	$0	$3,600

Management Fees	$604	$604	$604

$604	$604

$0	$0	$0	$0	$0	$4,226

Information Technology
Telephone	$0	$0

$83	$83	$83
$7

$83	$0	$0	$0	$0
$0	$0	$0	$0

$583
$0	$7

$13

$53

Postage	$110	$240	$112	$272	$7	$95	$0	$0	$0	$0	$0	$1,035

Printing & Binding

$8	$5	$85

$0	$0	$0

$0	$252

Insurance	$6,042	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$6,042

Legal Advertising	$0	$0	$0

$0	$0	$0	$0	$0

$0	$0	$0

Other Current Charges

$55	$43	$60

$0	$0	$0	$0

Office Supplies	$1	$1	$28	$0	$1	$28	so

$0	$59

$175

Property Taxes	$0	so	so	$0	$0	$0	so	$0	$0	$0	$0	$0	$0

Dues, Licenses, & Subscriptions
TotalAdministrative	I	S12,352

$0	$0	$0	$0	$0
S3,164	Sl,752	$7,179	$1,070

$0
$0	so	$0

$0	Sl75
$30,373 1

Maintenance:
Water Expense
Electric Expense

$4,012	$2,111	$1,054	$1,413	$181	$535	$0	$0	$0	$0	$0	$0	$9,307
$864	$877	$1,283	$1,611	$1,635	$1,635	$0	$0	$0	$0	$0	$0

Irrigation Repairs	$0	$0	$0	$0	$2,229	$0	$0	$0	$0	$0	$0	$2,229

$3,293

Retention Ponds	$1,502	$1,502	$1,502	$1,502	$1,502	$1,502	$1,502	$0	$0	$0	$0	$0	$10,512

ROW Maintenance	$17,822	$3,293	$3,293
Plant Replacement	$1,313	$0

$21,771	$3,293	$0	$0	$0
$0	$0	so	$0	$0

$0	$0	$52,766
$0	$0	$1,313

Tree Trimming	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0

Pressure Washing	$0

so	$0	$0

$0	$0	$0

so	$0	$0

Contingency	$0	$0	so	$0	$0	$1,825	$1,351	$0	$0	$0	$0	$0	$3,176

Transfer Out	$0

$0	$0	$0

$0	$0

$0	$0	$0	$0

$7,132

Toto/ Maintenance	I	S25,St3	S7,783

$7,820	$25,089	$11,019	$2,853	$0	$0	$0	$0

59,572

S4,386

Total Expenditures	I	h1,s65	$11,105	$10,296

$32,269	$12,089

so	so	so	so	so	$117,582 1

Excess Revenues (Expenditures)	I	($35,804)	$5,332

$22,077	($27,565)	($10,073)	$435	$0	$0	so	$0	$0	$76,748 l
5

Indigo East

SERIES 2016, SPECIAL ASSESSMENT BONDS

INTEREST RATE:	3.561%, 4. 125% 4.500%		
MATURITY DATE:
RESERVE FUND DEFINITION	5/1/2037		
RESERVE FUND REQUIREMENT RESERVE FUND BALANCE			
BONDS OUTSTANDING - 1 1/17/16		$1,745,000	
LESS: PRINCIPAL PAYM ENT 5/1/17		($25,000)	
LESS: PRINCIPAL PAYMENT 5/1/17 Prepayment		($145,000)	
LESS: PRINCIPAL PAYMENT 11/1/17 Prepayment		($190,000)	
CURRENT BONDS OUTSTANDING		$1,385,000	

6

INDIGO EAST
COMMUNITY DEVELOPMENT DISTRICT
SPECIALASSESSMENTS FY 2018 RECEIPTS MAINTENANCE

Date	ACH

CertifieGdrNoesst Assessments ! $ 	$.129068,,165890..200D _i

Received

GrossRAecsseeivsesmd ents	CollFeecetion	ComPmaiisdsio.ns	IInceormeset	Net As1s0e0s%sments

······�1�1j��j��·····il·· ·······���··········1·; ········�:���::�·l·t;···· ·· ·�!:!�·1i;................:·j}+;.·················:····!······;�:��;:��·······
......112:/:1:9:/1�17...... ; .	A��C�H ...........:.: $;.........!3!,:�4�09:.:91�.:f $  .......... .�6�8�.:2:0;.; ;$ .................·:. $...................·:....::.....;$!3�,:3�4:1�.:7�1:......
.·•··i1/�25/J18 .....li  �•:�ACH .. l: l$ -: ':rn5,88:2�.0i2.i:i$	J1l1ffi7.64\i i$•....-....•�·    ,i$	: �·,,.[: ....·:$�5?,76ff4.38   ,

23/1243/18	ii	AACH

l!i i$

41,,:747:5:0..65:90: !i $$	9345..851 ji $	-·.	$

·· !i

$1,,678005..6189

··· :���m......J.......... :��············ ••······•··4. : ti···············9::::..1.i..................:.....·i···············13:46·( ..... sY.{i!io•······

····

.	--�i,"$sT-

i, $s

'! $s

$	,	$s0o..0o0o

.......................)........................ .j.s···················· ····f s ..................· ....J.s	············ :····· ·s·························:······ ·so:��..........

Total Collected Percentage Collected

$	198,057.79 $

3,961.15 $

DEBT SERVICE

$	110.36   $	194,2079.009%

CertifieGdrNoesst Assessments ! $·	$1003,,594196..81 ;

Gross Assessments

Collection

Commissions

Interest

'·· ······ 100%··········"

Date	ACH	Rea!lved	Fee	Paid	Income	Net RAescseisvsemdents

1122/28/17	j	ACH	: $	9:,268.92 i $	185.38 i $	$	:	$92,083.54

····· 12/;tgi....+.........���···_.......ii ;$ .........118�,0;7:4�:0�8 :: $;············· 32:6:1.:4:8 ri ;$····················:.... ;$ ··················:· ....;:.....$s;17�,:7:1t2.;6t0 · ···

·.·.·.·..·�1�1j/�2�7j/�1�7.·.·.·.·.·.::.·.·.·.·.·.·.·.·.·.·.:AC�H�.·.·.··.·.·.·.·.·.·.·:_-t·.·.·.·.·.·.·.·.·.·.·.2·:�::.:�·l·.!·.·.·.·.·.·.·.·.·.·._-·.·.·.·��:::..: ·:.·.·._-_-_-.-·.·.·.·.·.·.·._-.·.·..·.·.·..-_- .-:.-.-.-.-.-.-.·.·.-.-.-.·.-·.·_-_-_-_-_-_-_-_-·_-.i·_-_-_-_-_-.�:9��\!1_-_-_-_-_-_-_-

·

;�;��	:

······· H......i··········:��·•· ······1!·········1::���:!�.ri············!�:::;.J!·················:·······!·······•······44:16 .r .... ::�{:s�.....·

i······�·:··-it·······..···:··1f			· ..· ········	.i·:·		······· ··: ·		·H:it=.....-.-.-.-.-.-.�.-.-.-.-..-.-.-.-.-.-.-.-:················......r		r·····

.·.····•�1/ill25/�1l8   •li - .��H. !i l$ ..:.•..:7:,E550.61T: i$ . -··-'1!5:1f.01.:ii k$	• · ·l$   -· -••,,-:-�A: ·:i$�7,39i9.60  -
4/25/18	ACH	: $	6,324.69-;- $	126.49 : $  · · · ·· ··· $ · ····	i    ·$6,1�
------------------···-··· ;···-------··········· ·-----i----············---------···i·········-···----·-·-·····••i--- --------•···········-···· ·····-···········--------·--•·················--·········

TPeortcael nCtoalgleectCeodllected

$	100,478.73   $	2,009.58  $	62.99   $	98,5329.154%

7

SECTION 3

Wesley Wilco�
Supervisor of Elections, Marion County, FL

Election Center
981 NE 16th ST • Ocala, FL 34470 M	PO Box 289 • Ocala, FL 34478-0289 P	352-620-3290
F	352-620-3286
W	www.VoteMarion.com

April 16, 2018

Re: April 12, 2018, Chapter 190 (3)(a)(2)(d), Request

Lauren Vanderveer, Administrative Assistant 135 West Central Blvd, Suite 320
Orlando, Florida 32801 Lauren,

BY:

_ _ _ _ _ _ w,,- _ _ _ _ _ _

In accordance with Chapter 190 (3)(a)(2)(d) and with reference to your April 12, 2018 letter requesting registered voters in Indigo East Community Development District, as of April 15, 2018, our records indicate there are 514 active registered voters in the boundaries of the referenced development.
If you have any questions or require any fu rther information, please contact me. Sincerely,
�;J,d,i_,0
Charlee Nichols
Support Services Analyst II
Marion County Election Center CNichols@VoteMarion.com

SECTION 4

2018 SPECIAL DISTRICTS QUALIFYING PROCEDURE

Florida Statute 99.061
All special district candidates shall qualifyby paying a filing fee of $25.00 orby thepetition process pursuant to Florida Statute 99.095. Notwithstanding Florida Statute 106.021, a Special District candidate who does not collect contributions andwhose only expense is the filing fee or signature verification fee is not required toappoint a campaign treasurer or designate a primary campaign depository.
Candidates who WILL NOT incur election expenses or contributions will do the following:.
l.	If you choose to file by petition method, you need to collect 25 signatures of qualified electors in the district.
Petitionamustbe submitted byNoon on May21, 2018.
Qualifyingbegins at Noon on rune 18 and ends at Noon on lune 22, 2018, To qualify you must present the items listed below (all items MUSr'be received by the end of the�alifying period):
Form 1 - Statement of Financial Interest
Loyalty Oath/Oath of Candidate
The amount of $25.00 for your qualifying fee.
Candidates filing by the petition method arenot required to paythe qualifying fee, however, willbe charged .10 foreach petition card viewed.

Candidates who WILL incur election expenses or contI'ib�dons will do the following:
File Appointment of Campaign Treasurer/Designation of Campaign Depository (open campaign account). This may be completed at any time prior to qualifying, but MUST be completed by the time you qualify.

Read Chapter 106 of the Florida Statutes, and submit a Statement of Candidate.
If you choose to file by petition method. you need to collect 25 signatures of qualified electors in the district.
PetitioDsmustbesubmitted byNoon on May 21. 2018.
Qualifying begins at Noon on Iune 18 and ends at Noon on lune 22, 2018. To qualify you must present the
items listed below (all items MUST be received by the end or'the qualifying period):

Form 1- Statement of Financial Interest
Loyalty Oath/Oathof Candidate
Checkfor $25.00, from your campaign account made payable to the Supervisor of Elections, foryour qualifying fee. NO CASH WILL BE ACCEPTED.
Candidates filing by thepetition method arenot required to pay thequalifyingfee, however, willbe charged .10 for each petition card viewed