Windward  Community Development District

Agenda August 21, 2019

A GENDA

Windward
Community Development District

135 W. Central Blvd., Suite 320, Orlando, FL 32801
Phone: 407-841-5524 - Fax: 407-839-1526

August 16, 2019

Board of Supervisors Windward
Community Development District Dear Board Members:
The regular meeting of the Board of Supervisors of the Windward  Community  Development District will be held Wednesday, August 21, 2019 at 2:00 p.m. at the West Osceola Branch Library, 305 Campus Street, Kissimmee, FL 34747. Following is the agenda for the meeting:

Roll Call
Public Comment Period
Organizational Matters
A Appointment of Individual to Fulfill Board Vacancy with a Term Ending November 2019
Administration of Oath of Office to Newly Appointed Board Member
Consideration of Resolution 2019-06 Electing an Assistant Secretary
N.	Approval of Minutes of May 15, 2019 Meeting
Review and Acceptance of Fiscal Year 2018 Audit Report
Public Hearing
A Consideration of Resolution 2019-07 Adopting the Fiscal Year 2020 Budget and Relating to the Annual Appropriations
B. Consideration of Resolution 2019-08 Imposing Special Assessments and Certifying an Assessment Roll
Consideration of Fiscal Year 2020 Deficit Funding Agreement
Staff Reports
A Attorney
Engineer
District Manager
Approval of Check Registers
Balance Sheet and Income Statement
Approval of Fiscal Year 2020 Meeting Schedule
Other Business
Supervisors' Requests
Adjournment

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

The third order of business is organizational matters. Section A is appointment of individual to fulfill the Board vacancy with a term ending November 2019. Section Bis administration of oath

of office to the newly appointed Board Member. Section C is consideration of resolution 2019-06 electing an assistant secretary. A copy of the resolution is enclosed for your review.

The fourth order of business is approval of the minutes of the May 15, 2019 Board of Supervisors meeting. The minutes are enclosed for your review.

The fifth order of business is review and acceptance of Fiscal Year 2018 audit report. A copy of the report is enclosed for your review.

The sixth order of business opens the public hearing. Section A is consideration of Resolution 2019-07 adopting the Fiscal Year 2020 budget and relating to the annual appropriations. A copy of the resolution is enclosed for your review. Section Bis consideration of Resolution 2019-08 imposing special assessments and certifying an assessment roll. A copy of the resolution is enclosed for your review and the assessment roll will be available at the meeting.

The seventh order of business is consideration of Fiscal Year 2020 Deficit Funding Agreement. A copy of the agreement is enclosed for your review.

Section C of the eighth order of business is the District Manager's Report. Section 1 includes the check register being submitted for approval and section 2 includes the balance sheet and income statement for your review. Section 3 is approval of Fiscal Year 2020 meeting schedule. A sample notice 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.

2:

Sincerely,

District Manager

Cc: Jan Carpenter, District Counsel Brett Sealy, Underwriter
Mike Williams, Bond Counsel David Kelly, District Engineer Darrin Mossing, GMS

Enclosures

S ECTION Ill

S ECTION C

RESOLUTION 2019-06

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WINDWARD COMMUNITY DEVELOPMENT DISTRICT ELECTING THE OFFICERS OF THE DISTRICT AND PROVIDING FOR AN EFFECTIVE DATE

WHEREAS, the Windward Community Development District (the "District") is a local unit of special purpose government created and existing pursuant to Chapter 190, Florida Statutes; and

WHEREAS, the Board of Supervisors of the District ("Board")  desires  to  elect  the Officers of the District.

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

Section 1.

Section 2.

Section 3.

Section 4.

_   _   _   _   _   _   _   _ _  _	is elected Chairperson.

_   _   _   _   _   _   _   _ _  _	is elected Vice-Chairperson.

_   _   _   _   _   _   _   _ _  _	is elected Secretary.

_   _   _   _   _   _   _   _ _  _	is elected Assistant Secretary.
_   _   _   _   _   _   _   _ _  _	is elected Assistant Secretary.
_   _   _   _   _   _   _   _ _  _	is elected Assistant Secretary.
_   _   _   _   _   _   _   _ _  _	is elected Assistant Secretary.

Section 5.

Section 6.

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

is elected Treasurer.

is elected Assistant Treasurer.

Section 7.	This Resolution shall become effective immediately upon its adoption.

PASSED AND ADOPTED this 21st day of August, 2019.

ATTEST:		WINDWARD COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson/Vice-Chairperson

M INUTES

WINDWARD
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Windward Community Development District was held Wednesday, May 15, 2019 at 2:00 p.m. in the Hart Memorial Central Library, 211 E. Dakin Avenue, Kissimmee, Florida.

Present and constituting a quorum were:

John Kassik Jimmy Clark Thomas Franklin Ellis Roe

Chairperson Vice Chairman
Assistant Secretary Assistant Secretary

Also present were:

Jill Burns
Andrew d'Adesky Jan Carpenter David Kelly William Viasalyers

District Manager District Counsel District Counsel District Engineer Field Manager

FIRST ORDER OF BUSINESS	Roll Call
Ms. Burns called the meeting to order at 2:00 p.m. and called the roll.

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

THIRD ORDER OF BUSINESS	Organizational Matters
Acceptance of Resignation of Walter D. Beeman, Jr.

On MOTION by Mr. Franklin seconded by Mr. Kassik with all in favor Walter Beeman's resignation was accepted.

Appointment of Individual to Fill Board Vacancy with a Term Ending November 2019

Administration of Oath of Office to Newly Appointed Board Member

May 15, 2019	Windward CDD

Resolution 2019-04 Electing Officers
Items B, C, and D deferred to the next meeting.

FOURTH ORDER OF BUSINESS	Approval of the Minutes of the November 14,
2018 Board of Supervisors Meeting and Acceptance of the Minutes of the August 15, 2018 Audit Committee Meeting

On MOTION by Mr. Roe seconded by Mr. Franklin with all in favor the minutes of the November 14, 2018 Board Meeting were approved as presented and the August 15, 2018 Audit Committee meeting minutes were accepted.

FIFTH ORDER OF BUSINESS	Consideration	of   Landscape	Maintenance
Addendum to Contract with Down to Earth
Mr. Viasalyers stated this item is to pick up the new boulevard in front of the amenity center. It is considered Phase 3A and we would like to get them on board for that maintenance work.

On MOTION by Mr. Kassik seconded by Mr. Clark with all in favor the addendum to the Landscape Maintenance contract with Down to Earth for Maintenance of the Clubhouse Roadway Frontage in the amount of $13,057.47 annually was approved.

SIXTH ORDER OF BUSINESS	Consideration of Proposals
Arbitrage Rebate Calculation Services with AMTEC
Ms. Burns stated next is the proposal for arbitrage rebate calculation services with AMTEC. This is a report required by the trust indenture and the cost is $450 per year.

On MOTION by Mr. Kassik seconded by Mr. Clark with all in favor the agreement with AMTEC for Arbitrage Rebate Calculations for the Series 2018A Bonds for $450 per year was approved.

ADA Website Compliance with VGlobalTech
Ms. Burns stated there have been some lawsuits brought against units of government, including CDDs saying that website are not ADA compliant. We have been working with this

May 15, 2019	Windward CDD

vendor on all OMS Districts in order to get a bulk rate and they will convert the current website to make them ADA compliant. There are a couple of options, a one-time fee of $2,375 to convert all documents on the current website so they work with the assisted devices. There is a fee of $1,350 for annual maintenance and we are not suggesting you go with that option; once the website is compliant OMS can keep it compliant going forward. We suggest the one-time $2,375 cost to bring the website into compliance. The insurance company will no longer offer coverage if the District is not taking steps to become ADA compliant.

On MOTION by Mr. Kassik seconded by Mr. Roe with all in favor the proposal from VOlobalTech for a one-time fee of $2,375 was approved.

Landscape Enhancements with Down to Earth (4)
Mr. Viasalyers described in detail each proposal and the area covered and the Board took the following action.

On MOTION by Mr. Kassik seconded by Mr. Clark with all in favor the Down to Earth proposal 1 in the amount of $728 and proposal 2 in the amount of $4,625 were approved.

On MOTION by Mr. Kassik seconded by Mr. Roe with all in favor Down to Earth proposal 3 in the amount of $2,185 was approved.

On MOTION by Mr. Kassik seconded by Mr. Roe with all in favor Down to Earth proposal 4 in the amount of $3,185 was approved.

SEVENTH ORDER OF BUSINESS	Consideration	of	Resolution	2019-05
Approving the Proposed Fiscal Year 2020 Budget and Setting a Public Hearing
Ms. Burns stated next is consideration of Resolution 2019-05 approving the proposed budget and setting the public hearing for August 21, 2019 at your regular meeting location. The budget is attached to the resolution and I went over this with Jason before he left and right now it shows the assessment amount is the same $312,827 in order to keep assessments level. We do have a developer contribution of $28,500 and if you approve this we will direct bill the developer that $28,500 at the beginning of the fiscal year. Alternatively, if you wanted to reduce some of

May 15, 2019	Windward CDD

the line items so that the overall budget is $312,827, we can do that. It looks like we can reduce lake maintenance by half. We could reduce the landscape contingency and reduce the first quarter operating reserve a little bit, keep the $312,827 the same and remove the developer contribution then enter into a deficit funding agreement so if there is a deficit the developer will fund it rather than contributing upfront. We will change lake maintenance to $3,000.
Ms. Carpenter stated you either have to cut $25,000 or increase assessments. The carry forward funds the first three months of operations before the assessments are received.
Ms. Burns stated we can reduce the carry forward. Generally, we budget that at three months operating expenses and we generally get assessments the end of November, beginning of December so we could cut that to two months if we needed to. We could cut the landscape contingency now with the understanding that ifwe cut it down to $15,000 and you do the $14,000 project the deficit funding agreement would kick in. We will take $10,000 off the landscape contingency, $10,000 off the reserve and cut the lake maintenance in half. Any landscape improvements will have to be done through a deficit funding agreement with the developer.

On MOTION by Mr. Kassik seconded by Mr. Roe with all in favor Resolution 2019-05 approving the proposed budget amended as outlined above, taking out the developer contribution and entering into a Deficit Funding Agreement with the developer and setting the public hearing for August 21, 2019 at West Osceola Branch Library, 305 Campus Street, Kissimmee, FL, was approved.

EIGHTH ORDER OF BUSINESS	Consideration of Series 2018 Disclosure of
Public Financing
Ms. Bums stated this will be recorded in the public records and it outlines the 2018 project and shows the assessment and if anyone is looking to purchase within the community there is a document recorded that outlines that bond issuance and shows the lien against those properties.

On MOTION by Mr. Kassik seconded by Mr. Roe with all in favor the Disclosure of Public Financing for the Series 2018 bonds was approved.

NINTH ORDER OF BUSINESS	Ratification	of	2018A	Acquisition	and
Construction Requisition #1

May 15, 2019	Windward CDD

Ms. Burns stated this has already been approved and is the first requisition that is the reimbursement to the developer for construction costs in the amount of $6,606,497.83.

On MOTION by Mr. Kassik seconded by Mr. Clark with all in favor requisition no. 1 for the 2018A bonds in the amount of$6,606,497.83 was ratified.

TENTH ORDER OF BUSINESS	Staff Reports
Attorney
Mr. d' Adesky asked where are we in terms of completion of the initial project? Once we have fully drawn down the construction fund and built out the project before we convey those improvements to the District we need to certify the project as complete.  At this point I'm  trying to gauge where we are in that process.
Mr. Kelly stated looking at the plans and the status of where we are, we are at least halfway or a little more for the total bond project. Construction-wise we are at least halfway, permit-wise we are probably a little further than that.
Ms. Carpenter stated when you get closer we want to make sure it is turned over and get us certification when the project is complete.

Engineer
Mr. Kelly stated Phase 1 is complete, 2A we are under vertical construction now.
Mr. Kassik stated it is in permitting we haven't gone vertical yet.
Mr. Kelly stated the stormwater is in and we are down to curb, base, asphalt type work to finish up. Phase 3 we have the Southwest Florida certification. We are still in preliminary plan stage for the final phase, what we call 3B and C and D. We have to process a PD in order to remove an oak hammock area and we can get a proposal. We have a few entitlements up there.

Manager
Approval of Check Register

On MOTION by Mr. Kassik seconded by Mr. Clark with all in favor the check registers were approved.

May 15, 2019	Windward COD

Balance Sheet and Income Statement
A copy of the balance sheet and income statement were included in the agenda package.

Presentation of Number of Registered Voters - 85
A copy of the letter from the Supervisor of Elections indicating there are 85 registered voters residing within the District was included in the agenda package.

Designation of November 5, 2019 as Landowners' Meeting Date
Ms. Burns stated we need to announce the Landowners' election at least 90 days prior to the election and it needs to be held November 5, 2019 at 2:00 p.m. We do not need the Board there we just need a representative of the Landowner to cast the votes. The Landowner can sign the proxy to a Board Member or anyone and the proxy holder shows up at the meeting to cast the votes on behalf of the Landowner. I can send all that information to the Landowner. If anyone wants ballots or proxies ahead of time they can request them from our office.

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

TWELFTH ORDER OF BUSINESS
There being none,

Supervisor's Requests

On MOTION by Mr. Kassik seconded by Mr. Clark with all in favor the meeting adjourned at 2:33 p.m.

Secretary/Assistant Secretary	Chairman/Vice Chairman

S ECTION V

WINDWARD
COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018

WINDWARD COMMUNITY DEVELOPMENT DISTRICT OSCEOLA 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	13-18
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – General Fund	19
Notes to Required Supplementary Information	20
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	21-22
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	23
MANAGEMENT LETTER REQUIRED BY CHAPTER 10.550 OF THE RULES
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	24-25

INDEPENDENT AUDITOR’S REPORT

To the Board of Supervisors
Windward Community Development District Osceola County, Florida

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

Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities and each major fund of Windward Community Development District, Osceola County, Florida (“District”) as of and for the fiscal year ended September 30, 2018, 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, 2018, and the respective changes in financial position 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 June 12, 2019, 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 the effectiveness of the District’s 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 June 12, 2019, 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.

June 12, 2019

MANAGEMENT’S DISCUSSION AND ANALYSIS

Our discussion and analysis of Windward Community Development District, Osceola County, Florida (“District”) provides a narrative overview of the District’s financial activities for the fiscal year ended September 30, 2018. 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.

The District was established pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes and created by Ordinance No. 2017-21 of Osceola County, Florida effective on April 10, 2017and no audit was required for the prior period. As a result, the balances as of and for the period ended September 30, 2017 are for less than an twelve month period and are unaudited.

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 $20,285.

The change in the District’s total net position in comparison with the prior fiscal year was $13,049, 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, 2018, the District’s governmental funds reported combined ending fund balances of $12,815, an increase of $5,579 in comparison with the prior fiscal year. The total  fund balance is non-spendable for prepaid items 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 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 Developer contributions. The District does not have any business-type activities. The governmental activities of the District include the general government (management) and maintenance functions.

OVERVIEW OF FINANCIAL STATEMENTS (Continued)

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

Governmental Funds

Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a District’s near-term financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the District’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balance provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The District maintains two 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 and capital projects fund, both 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 as of September 30, 2018.

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

NET POSITION SEPTEMBER 30,
(Unaudited)
2018	2017

Current and other assets

$	35,971	$

15,759

Capital assets, net of depreciation	 	7,470	-		
Total assets	 	43,441	15,759 	
Current liabilities	 	23,156	8,523 	
Total liabilities	 	23,156	8,523 	
Net position
Net  investment in capital assets			7,470		- Unrestricted	 	12,815	7,236 
Total net position	 $	20,285	$	7,236 

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 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 Developer contributions exceeded the cost of operations.

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,

(Unaudited)

Revenues: Program revenues

2018	2017

Operating grants and contributions

$	171,264 $

42,537

Capital grants and contributions	 		7,470		-	 Total revenues	 	178,734	42,537 
Expenses:
General government	57,611	34,701
Maintenance and operations	 	108,074	600 	
Total expenses	 	165,685	35,301 	
Change in net position	 	13,049	7,236 	
Net position - beginning	 	7,236	-		
Net position - ending	  $	20,285    $	7,236 	

As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year ended September 30, 2018 was $165,685. The majority of the costs of the District’s activities were paid by program revenues. Program revenues were comprised primarily of Developer contributions in both the current and prior fiscal years.

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. The general fund budget for the fiscal year ended September 30, 2018 was amended to increase revenues by $85,873 and increase appropriations by $85,873. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2018.

CAPITAL ASSETS

At September 30, 2018, the District had $7,470 invested in capital assets for its governmental activities.  In the government-wide financial statements, no depreciation has been taken in the current year, which resulted in a net book value of $7,470. More detailed information about the District’s capital assets is presented in the notes of the financial statements.

ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS

Subsequent to fiscal year end, the District issued $3,460,000 of Series 2018 A-1 Bonds and $4,120,000 of Series 2018 A-2 Bonds, consisting of multiple term bonds with due dates ranging from May 1, 2020 - May 1, 2049 and fixed interest rates ranging from 4.5% to 5.8%.The Bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District.

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

WINDWARD COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA STATEMENT OF NET POSITION
SEPTEMBER 30, 2018

	Governmental
Activities	
ASSETS		
Cash	$	6,765	
Due from developer	21,812	
Prepaid items	7,394	
Capital assets:		
Depreciable, net	 	7,470 	
Total assets	 	43,441 	
LIABILITIES		
Accounts payable	 	23,156 	
Total liabilities	 	23,156 	
NET POSITION		
Net investment in capital assets	7,470	
Unrestricted	 	12,815 	
Total net position	  $	20,285 	

See notes to the financial statements

WINDWARD COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018

Program Revenues
Charges	Operating	Capital

Net (Expense) Revenue and Changes in Net Position

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

General government

$	57,611	$

-	$	171,264	$

-	$	113,653

Physical environment	 	108,074	-	-	7,470	(100,604)
Total governmental activities	 	165,685	-	171,264	7,470	13,049 

Change in net position	13,049	
Net position - beginning	 	7,236 	
Net position - ending	  $	20,285 	

See notes to the financial statements

8

WINDWARD COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA
BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2018

ASSETS

 	Major Funds	
Capital
General	Projects

Total Governmental Funds

Cash

$	6,765	$

-	$	6,765

Due from Developer	14,342	7,470	21,812
Prepaid items and deposits	 	7,394	-	7,394 
Total assets	 $	28,501	$	7,470	$	35,971 

LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable

  $	15,686	$	7,470	$	23,156 

Total liabilities	 	15,686	7,470	23,156 

Fund balances:
Nonspendable:
Prepaid items and deposits		7,394	-	7,394 Unassigned	 	5,421	-	5,421 
Total fund balances	 	12,815	-	12,815 

Total liabilities and fund balances	 $	28,501	$	7,470	$	35,971 

See notes to the financial statements

WINDWARD COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA
RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION
SEPTEMBER 30, 2018

Fund balance - governmental funds	$	12,815

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 any  accumulated  depreciation,  in the net position of the government as a whole.
Cost of capital assets	7,470	
Accumulated depreciation	 	-	7,470 	
Net position of governmental activities	  $	20,285 	

See notes to the financial statements

WINDWARD COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018

 	Major Funds		Total

REVENUES

Capital
General	Projects

Governmental Funds

Developer contributions	 $	171,264	$	7,470	$	178,734 
Total revenues	 	171,264	7,470	178,734 

EXPENDITURES
Current:
General government	57,611	-	57,611	
Physical environment	108,074	-	108,074	
Capital outlay	 	-	7,470	7,470 	
Total expenditures	 	165,685	7,470	173,155 	
Excess (deficiency) of revenues		
over (under) expenditures	5,579	-	5,579	

Fund balances - beginning	 	7,236	-	7,236 

Fund balances - ending	 $	12,815	$	-	$	12,815 

See notes to the financial statements

WINDWARD COMMUNITY DEVELOPMENT DISTRICT OSCEOLA 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, 2018

Net change in fund balances -  total governmental funds	$	5,579 Amounts reported for governmental activities in the statement of activities
are different because:
Governmental funds report capital outlays as expenditures; however,  the cost of those assets is eliminated in the statement of activities and
capitalized in the statement of  net position.	7,470

Change in net position of  governmental activities	 $	13,049 

See notes to the financial statements

WINDWARD COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA
NOTES TO FINANCIAL STATEMENTS

NOTE 1 - NATURE OF ORGANIZATION AND REPORTING ENTITY

Windward Community Development District (the "District") was established by Osceola County Ordinance 2017-21 effective on April 10, 2017 pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes. The Act provides among other things, the power to manage basic services for community development, power to borrow money and issue bonds, and to levy and assess non-ad valorem assessments for the financing and delivery of capital infrastructure.

The District was established for the purpose of financing and managing the acquisition, construction, maintenance and operations of the infrastructure within the District.

The District is governed by the Board of Supervisors ("Board"), which is composed of five members. Initially, the Board is elected by the landowners within the District based on one vote per acre or portion of an acre. Upon 6 years and 250 registered voters, the Supervisors are elected on an at large basis by registered voters residing within the District. The Board exercises all powers granted to the District pursuant to Chapter 190, Florida Statutes. At September 30, 2018, three of the five Board members are affiliated with K. Hovnanian at Mystic Dunes, LLC (“Developer”).

The Board has the responsibility for:
Allocating 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 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 residents and non-residents of the District who purchase, use or directly benefit from goods, services or privileges provided by a given function or segment. Operating-type special assessments for maintenance and debt service are treated as charges for services; and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Other items not included among program revenues are reported instead as general revenues.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

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

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures are recorded only when payment is due.

Assessments
Assessments are non-ad valorem assessments on benefited property within the District. Operating and maintenance assessments are based upon the adopted budget and levied annually at a public hearing of the District. Debt service assessments are levied when Bonds are issued and certified for collection on  an annual basis. The District may collect assessments directly or utilize the uniform method of collection under Florida Statutes. Direct collected assessments are due as determined by annual assessment resolution adopted by the Board of Supervisors. Assessments collected under the uniform method are mailed by the County  Tax  Collector  on  November  1  and  due  on  or  before  March  31  of  each  year. Property owners may prepay a portion or all of the debt service assessments on their property subject to various provisions in the Bond documents.

Assessments and interest associated with the current fiscal period are considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. The portion of assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period.

The District reports the following major governmental funds:

General Fund
The general fund is the general operating fund of the District. It is used to account for all financial resources except those required to be accounted for in another fund.

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

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.

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).

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity

Deposits and Investments (Continued)
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 Interlocal 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.

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 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.

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.

No depreciation has been taken in the current fiscal year as the District’s infrastructure and other capital assets are under construction.

Unearned Revenue
Governmental funds report unearned revenue in connection with resources that have been received, but not yet earned.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity (Continued)

Long-Term Obligations
In the government-wide financial statements long-term debt and other long-term obligations are reported as liabilities in the statement of net position. Bond premiums and discounts are deferred and amortized over the life of the Bonds. Bonds payable are reported net of applicable premiums or discounts. Bond issuance costs are expensed when incurred.

In the fund financial statements, governmental fund types recognize premiums and discounts, as well as issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of  resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then.

In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.

Fund Equity/Net Position
In the fund financial statements, governmental funds report nonspendable and restricted fund balance for amounts that are not available for appropriation or are legally restricted by outside parties for use for a specific purpose. Assignments of fund balance represent tentative management plans that are subject to change.

The District can establish limitations on the use of fund balance as follows:

Committed fund balance – Amounts that can be used only for the specific purposes determined by a formal action (resolution) of the Board of Supervisors. Commitments may be changed or lifted only by the Board of Supervisors taking the same formal action (resolution) that imposed the constraint originally. Resources accumulated pursuant to stabilization arrangements sometimes are reported in this category.

Assigned fund balance – Includes spendable fund balance amounts established by the Board of Supervisors that are intended to be used for specific purposes that are neither considered restricted nor committed. The Board may also assign fund balance as it does when appropriating fund balance to cover difference 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.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity (Continued)

Fund Equity/Net Position (Continued)
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. 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 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 appropriations for annually budgeted funds lapse at the end of the year.

NOTE 4 – 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.

NOTE 5 - CAPITAL ASSETS

Capital asset activity for the fiscal year ended September 30, 2018 was as follows:
Beginning

Ending

	 	Balance	Additions	Reductions	Balance		
Governmental activities		
Capital assets, not being depreciated		
Infrastructure under construction	  $	7,470	$	-	$	-	$	7,470 	
Total capital assets, not being depreciated	 	7,470	-	-	7,470 	
Governmental activities capital assets, net	   $	7,470	$	-	$	-	$	7,470 	

NOTE 6 – DEVELOPER TRANSACTIONS

The Developer has agreed to fund the general operations of the District. In connection with that agreement, Developer contributions to the general fund were $171,264 which includes a receivable of
$14,342 at September 30, 2018.

The Developer has agreed to fund specific agreed-upon projects costs of the District. In connection with that agreement, Developer contributions to the capital projects fund were $7,470 which has been reported as a receivable of the District as of September 30, 2018.

NOTE 7 – CONCENTRATION

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

NOTE 8 - MANAGEMENT COMPANY

The District has contracted with a management company to perform services which include financial and accounting advisory 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 9 - 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 since inception of the District.

NOTE 10 – HOA SHARED COST AGREEMENT

The District has entered an agreement with the HOA whereby the HOA will reimburse the District for a portion of the irrigation costs which are shared by the two entities. The agreement expires April 18, 2068 unless cancelled sooner by one of the parties in accordance with the terms of the agreement.

NOTE 11 – SUBSEQUENT EVENTS

Series 2018 Bonds
Subsequent to fiscal year end, the District issued $3,460,000 of Series 2018 A-1 Bonds and $4,120,000 of Series 2018 A-2 Bonds, consisting of multiple term bonds with due dates ranging from May 1, 2020 - May 1, 2049 and fixed interest rates ranging from 4.5% to 5.8%.The Bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District.

Acquisition of Improvements from the Developer
Subsequent to fiscal year end, the District paid the Developer $6,606,498 in order to acquire improvements from the Developer valued at $7,044,872. $438,374 will be recognized as a Developer contribution as the Developer covered a portion of the costs of the improvements acquired.

Bond Payments
Subsequent to fiscal year end, the District prepaid a total of $150,000 of the Series 2018 A-2 Bonds. The prepayments were considered extraordinary mandatory redemptions as outlined in the Bond Indenture.

WINDWARD COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018

 	Budgeted Amounts	

Actual

Variance with Final Budget - Positive

 	Original	Final	Amounts	(Negative)	

REVENUES
Developer contributions

  $	93,327	$	179,200	$	171,264	$	(7,936)

Total revenues	 	93,327	179,200	171,264	(7,936)

EXPENDITURES
Current:
General government	93,327	69,494	57,611	11,883
Physical environment	 	-	109,706	108,074	1,632 
Total expenditures	 	93,327	179,200	165,685	13,515 

Excess (deficiency) of revenues over (under) expenditures

  $	-	$	-	

5,579	$

5,579

Fund balance - beginning	 	7,236 

Fund balance - ending	 $	12,815 

See notes to required supplementary information

WINDWARD COMMUNITY DEVELOPMENT DISTRICT OSCEOLA 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. The general fund budget for the fiscal year ended September 30, 2018 was amended to increase revenues by $85,873 and increase appropriations by $85,873. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2018.

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

INDEPENDENT AUDITOR’S REPORT 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
Windward Community Development District Osceola 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 Windward Community Development District, Osceola County, Florida (“District”) as of and for the fiscal year ended September 30, 2018, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our opinion thereon dated June 12, 2019.
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.

Purpose of this Report

The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.
June 12, 2019

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

INDEPENDENT AUDITOR’S REPORT 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
Windward Community Development District Osceola County, Florida

We have examined Windward Community Development District, Osceola 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, 2018. 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, 2018.

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 Windward Community Development District, Osceola County, Florida and is not intended to be and should not be used by anyone other than these specified parties.
June 12, 2019

951 Yamato Road ▪ Suite 280 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
Windward Community Development District Osceola County, Florida

Report on the Financial Statements

We have audited the accompanying basic financial statements of Windward Community Development District, Osceola County, Florida ("District") as of and for the fiscal year ended September 30, 2018, and have issued our report thereon dated June 12, 2019.

Auditor’s Responsibility

We conducted our audit in accordance with auditing standards generally accepted in the United States of America; Government Auditing Standards, issued by the Comptroller General of the United States; and Chapter 10.550, Rules of the Florida Auditor General. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.

Other Reporting Requirements

We have issued our Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; and Independent Auditor’s Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated June 12, 2019, 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 Windward Community Development District, Osceola County, Florida and is not intended to be and should not be used by anyone other than these specified parties

We wish to thank Windward Community Development District, Osceola County, Florida and the personnel associated with it, for the opportunity to be of service to them in this endeavor as well as future engagements, and the courtesies extended to us.
June 12, 2019

REPORT TO MANAGEMENT

CURRENT YEAR FINDINGS AND RECOMMENDATIONS

None

PRIOR YEAR FINDINGS AND RECOMMENDATIONS

N/A-First Year Audit

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.

N/A. This is a first year audit.

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, 2018.

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, 2018.

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

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, 2018. 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.

S ECTION VI

S ECTION A

RESOLUTION 2019-07

THE ANNUAL APPROPRIATIO RESOLUTION OF THE WINDWARD COMMUNITY DEVELOPMENT DISTRICT (THE "DISTRICT") RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER  1, 2019, AND ENDING SEPTEMBER 30, 2020.

WHEREAS, the District Manager has, prior to the fifteenth (15th) day in June, 2019, submitted to the Board of Supervisors (the "Board") a proposed budget for the next ensuing budget year along with an explanatory and complete financial plan for each fund of the Windward Community Development District, pursuant to the provisions of Section 190.008(2)(a), Florida Statutes; and

WHEREAS, at least sixty (60) days prior to the adoption of the proposed annual budget (the "Proposed Budget"), the District filed a copy of the Proposed Budget with the local governing authorities having jurisdiction over the area included in the District pursuant to the provisions of Section l 90.008(2)(b), Florida Statutes; and

WHEREAS, the Board set August 21, 2019, as the date for a public hearing thereon and caused  notice   of  such   public   hearing  to  be  given   by   publication   pursuant   to  Section   l 90.008(2)(a), Florida Statutes; and

WHEREAS, Section 190.008(2)(a), Florida Statutes, requires that, prior to October I, of each year, the District Board by passage of the Annual Appropriation Resolution shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year; and

WHEREAS, the District Manager has prepared a Proposed Budget, whereby the budget shall project the cash receipts and disbursements anticipated during a given time period,  including reserves for contingencies for emergency or other unanticipated expenditures during the fiscal year.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF WINDWARD COMMUNITY DEVELOPMENT DISTRICT;

Section 1.	Budget

That the Board of Supervisors has reviewed the District Manager's Proposed Budget, a copy of which is on file with the office of the District Manager and at the District's Records Office, and hereby approves certain amendments thereto, as shown  in Section 2 below.

That the District Manager's Proposed Budget, attached hereto as Exhibit "A," as amended by the Board, is hereby adopted in accordance with the provisions of

Section 190.008(2)(a), Florida Statutes, and incorporated herein by reference; provided, however, that the comparative figures contained in the adopted budget may be subsequently revised as deemed necessary by the District Manager to reflect actual revenues and expenditures for Fiscal Year 2019 and/or revised projections for Fiscal Year 2020.

That the adopted budget, as amended, shall be maintained in the office of the District Manager and at the District's Records Office and identified as "The Budget for Windward Community Development District for the Fiscal Year Ending September 30, 2020," as adopted by the Board of Supervisors on August 21, 2019.

Section 2.	Appropriations

There is hereby appropriated out of the revenues of the Windward Community Development District, for the fiscal year beginning October 1, 2019, and ending September 30, 2020, the sum of$ , to be raised by the levy of assessments and/or otherwise, which sum is deemed by the Board of Supervisors to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated in the following fashion:

TOTAL GENERAL FUND

DEBT SERVICE FUND(S) - SERIES 2018-1 TOTAL ALL FUNDS

$ 	......._  

_$  _	 _

$ 	....._  

Section 3.	Supplemental Appropriations

The Board may authorize by resolution, supplemental appropriations or revenue changes for any lawful purpose from funds on hand or estimated to be received within the fiscal year as follows:

Board may authorize a transfer of the unexpended balance or portion thereof of any appropriation item.

Board may authorize an appropriation from the unappropriated balance of any fund.

Board may increase any revenue or income budget amount to reflect receipt  of any additional unbudgeted monies and make the corresponding change to appropriations or the unappropriated balance.

The District Manager and Treasurer shall have the power within a given fund to authorize the transfer of any unexpected balance of any appropriation item or any portion thereof, provided such transfers do not exceed Ten Thousand ($10,000) Dollars or have the effect of causing more than 10% of the total appropriation of a given program or project to be transferred previously approved transfers included. Such transfer shall not have the effect of causing a more than

$10,000 or 10% increase, previously approved transfers included, to the original budget appropriation for the receiving program. Transfers within a program or project may be approved by the Board of Supervisors. The District Manager or Treasurer must establish administrative procedures which require information on the request forms proving that such transfer requests comply with this section.

Introduced, considered favorably, and adopted this 21st  day of August, 2019.

ATTEST:	WINDWARD  COMMUNITY
DEVELOPMENT  DISTRICT

Secretary

By:_	_	_	_	_	_	_	_	_	_	_	_

Its:- - - - - - - - - - - - - - -

Windward
Community Development District

Proposed Budget
FY 2020

Table of Contents

1	 	General Fund 

2-6	 	General Fund Narrative 

7	 	Debt Service Fund Series 2018

 	Amortization Schedule Series 2018

Windward
Community Development District

Fiscal Year 2020 General Fund

Adopted	Actual	Projected	Total	Proposed	
Budget	Thru	Naxt2	Thril	Budget	
Description	 FY2019	7/31119	Months	9/30119	FY2020	

RIYIDYII

Assessments• Tax Roll	$71,854	$61,988	$0	$61,988	$149,282	
Assessments - Direct Billed	$240,973	$240,973	$0	$240,973	$162,945	
Deficit Funding	$0	$0	$10,083	$10,083	$180,900	

Total Revenues	
$3121827	
$3021981	
$10,083	
$313.044	$4931127 I	
Expendibns						
Administrative						
Supervisors Fees	$4,800	$1,000	$400	$1,400	$4,800	
ACAExpense	$367	$77	$31	$107	$367	
Engineering	$12,000	$4,175	$2,325	$6,500	$12,000	
Attorney	$25,000	$7,393	$2,607	$10,000	$25,000	
Arbitrage	$450	$0	$0	$0	$450	
Dissemination	$3,500	$2,092	$1,083	$3,175	$3,500	
Annual Audit	$5,000	$2,500	$0	$2,500	$3,600	
Trustee Fees	$5,000	$0	$0	$0	$5,000	
Assessment Administration	$5,000	$5,000	$0	$5,000	$5,000	
Management Fees	$35,000	$29,167	$5,833	$35,000	$35,000	
lnfonnation Technology	$600	$500	$2,475	$2,975	$1,800	
Telephone	$300	$0	$25	$25	$300	
Postage	$1,000	$170	$130	$300	$1,000	
Travel Per Diem	$660	$106	$0	$106	$660	
Printing & Binding	$1,000	$362	$238	$600	$1,000	
Insurance	$5,500	$5,000	$0	$5,000	$5,500	
Legal Advertising	$2,500	$196	$554	$750	$2,500	
Other Current Charges	$1,000	$0	$100	$100	$1,000	
Office Supplies	$625	$84	$58	$142	$625	
Property Appraiser	$500	$278	$0	$278	$500	
Property Taxes	$250	$0	$0	$0	$250	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	

Administrative Expenses	
$110,227	
$58 73	
$15.859	
$74,132	s 1101021 I	
QJ!i!l!!i2a iiiMo.iatf!ni!.n!iJl
Field Services	$15,000	$12,500	$2,500	$15,000	$15,000
Telephone	$3,500	$0	$0	$0	$3,500
Electric	$26,000	$9,552	$2,208	$11,760	$26,000
Waler & Sewer	$58,000	$98,666	$36,000	$134,666	$210,000
Security Building Main1enance	$10,000		$8,684		$816		$9,500	$10,000 Landscape Maintenance	$48,000	$35,511	$8,510	$44,021	$63,000 Landscape Contingency	$15,000	$10,168	$4,832	$15,000	$25,000 Property Insurance		$6,000		$2,394			$0		$2,394		$6,000 Foun1ain Maintenance		$4,200		$3,175		$895		$4,070		$4,200 Lake Mainlenence		$6,000			$0			$0			$0		$6,000
Irrigation Repairs	$4,000	$1,376	$624	$2,000	$4,000 Lighting Meinlenance	$2,500			$0		$0			$0	$2,500 Monument Maintenance	$1,400			$0		$0			$0	$1,400 Roadway Maintenance	$1,500			$0		$0			$0	$1,500 Contingency	$1,500		$368	$132		$500	$5,000
Operation & Maintenance Expenses I	$202,800	$182 95	$56,517	$238,!!12	s383,100  I
Total Expenditures	 	$312,827	$240,668	$72,378	$3131043	$493,127 1

Exce&& Revenues/(Expendltures)	$0	ss2a93	j$621293       !	$0	! 50   ! 1

Net Aaseaoment	$312,227
Collection Coat (6%)	 	! 19 ,! 2! 
Gross Assessment	!3 321  158

Windward
Community Development District
GENERAL RJND BUDGET

REVENUES;
SDedal Assessments
The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the fiscal year.

Deficit Fundnig
The District will enter into a Deficit Funding Agreement with the Developer to fund any General Fund expenditures remaining once all assessment funds have been utilized.

EXPENDmJRES;
Administrative;
supervisor fees
Chapter 190, Florida Statutes, allows for each Board member to received $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings. The District anticipates 12 meetings per year, with 2 Board members receiving payment for their attendance at each meeting.

RCA Exoense
Represents the Employer's share of Social Sea.Jrity and Medicare taxes withheld from the Board of Supervisor checks.

Engineering

The District's engineer, Poulos & Bennett, will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review of invoices and requisitions, preparation and review of contract specifications and bid documents, and various projects assigned as directed by the Board of Supervisors and the District Manager.

Attomev
The District's legal counsel, Latham, Shuker, Eden & Beaudine, LLP, will be providing general legal services to the District, e;g, attendance and preparation for monthly meetings, preparation and review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.

Windward
Community Development District
GENERAL FUND BUDGET

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District's Arbitrage Rebate Liability on the Series 2018A-1 & 2018A-2 Special Assessment Revenue Bonds.

Dissemination
The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(S) which relates to additional reporting requirements for unrated bond issues.

Annual Audit
The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. The District has contracted with Grau & Associates.

Trustee fees
The District will pay annual trustee fees for the Series 2018A-1 & 2018A-2 Special Assessment Revenue Bonds that are deposited with a Trustee at USBank.

Assessment Adminsitration
The District has contracted with Governmental Management Services-CF, LLC to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.
Management tees
The District has contracted with Governmental Management Services-Central Florida, LLC to provide Management, Accounting and Recording Secretary Services for the District. The services include, but not limited to, recording and transcription of board meetings, budget preparation, all financial reporting, annual audit, etc.

Information Technology
Represents costs related to Disbict's accounting and information systems, District's website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.
Telephone
Telephone and fax machine.

Postage
The District incurs charges for mailing of agenda packages, overnight deliveries, checks for vendors and other required correspondence.

Windward
Community Development District
GENERAL RJND BUDGET

Travel Per Diem
The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.
Insurance
The District's general liability and public officials liability insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.
Legal Advertising
The District is required to advertise various notices for monthly Board meetings, public hearings, etc in a newspaper of general circulation.

Other Current Charges
Represents any miscellaneous expenses incurred during the fiscal year such as bank fees, deposit slips, stop payments, etc.

Office Supolles
The District incurs charges for office supplies that need to be purchased during the fiscal year.
Property Appraiser
Represents a fee charged by Osceola County Property Appraiser's office for assessment administration services.

Propertv Taxes
Represents a fee charged by the Osceola C.ounty Tax C.ollector's Office for all assessable property within the District.
Dues. Licenses & subscriptions
The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Windwa rd
Community Development District
GENERAL RJND BUDGET

field Services
Provide onsite field management of contracts for the District such as landscape and lake maintenance. Services to include bimonthly onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Teleohone
Represents estimated costs for telephone services to the guardhouse.

Represents estimated costs for electrical accounts with Duke Energy for entrance lighting, irrigation meters and other District areas.

Water & Sewer
Represents estimated costs for water&. sewer services with Toho Water Authority for fountain, guardhouse, irrigation meters and other District areas.

Securitv Building Maintenance
Represents estimated costs for any repairs and maintenance to the guardhouse.
Landscape Maintenance
The District will maintain the landscaping within the common areas of the District after installation of landscape material has been completed. The District has contracted with Down to Earth Lawncare II, Inc. for this service.

Descriotion	Monthly	Annual	
Landscape Maintenance	$4,255	$51,057	
Contingency - Future Areas		$11,943	
		$63,000	
Total			
Landscape Continqenr;y
Represents estimated costs for any additiOnal landscape expenses not covered under the monthly landscape maintenance contract.
Property Insurance
Represents estimated costs for the annual coverage of property insurance. C.Overage will be provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Windward
Community Development District
GENERAL RJND BUDGET

f ountainMaintenance
The District will schedule the regularly deaning and treatment of the fountain maintained by the District. The District will be contracting with Grunit Pool Contractors.

DescriDtlon	Monthly	Annual	
Fountain Maintenance
Total	$350	$4200	
		$4,200	

Lake Maintenance
Represents estimated costs for the maintenance of any ponds and lakes located within the District.

Irrigation Repairs
Represents estimated costs for any repairs to the irrigation system.

Liqhtino Maintenance
Represents estimated repair and maintenance cost to all lighting fixtures maintained by the District.

Monument Maintenance
Represents estimated costs for any repairs to monuments within the District.

Roadway Maintenance
Represents estimated costs for any sidewalk or roadway maintenance for areas maintained by the District.

Contingency
Represents any additional field expense that may not have been provided for in the budget.

Windward
Community Development District

Fiscal Year 2020 Debt Service Fund

	Proposed
Budget	Actual
Thru	Projected
Next2	Total
Thru	Proposed Budget	
	FY2019	7131/19	Months	9130/19	FY2020	

Revenues		
Special Assessments- 201BA-1	$0	$0	$0	$0	$243,648		
Special Assessments - 201 BA-2	$0	$0	$0	$0	$204,670		
Assessments - Prepayment	$151,617	$585,492	$125,962	$711,454	$0		
Interest Income	$500	$1,184	$126	$1,310	$500		
Bond Proceeds	$640,694	$640,694	$0	$640,694	$0		
Carry Forward Surplus	$0	$0	$0	$0	$534,352	•	
Total Revenues	$792,811	$1	27.! 70	$126,088	$11  3  531  4  58	$9831110	I	

Expenses
series 201aA-1		
Interest - 11/1	$0	$0	$0	$0	$97,108	
Principal - 5/1	$0	$0	$0	$0	$50,000	
Interest - 5/1	$82,002	$82,002	$0	$82,002	$97,108	
Series 201aA-2						
Special Call -11/1	$0	$0	$0	$0	$315,000	
Interest - 11/1	$0	$0	$0	$0	$108,025	
Interest - 5/1	$100,894	$100,894	$0	$100,894	$98,890	
Special Call - 5/1	$150,000	$150,000	$0	$150,000	$0	
Special Call - 8/1	$0	$0	$245,000	$245,000	$0	
Total Expenditures	$332 .896	$332.896	$245.000	$577.896	$7661131 1	
Excess Revenues/(Expendltures)	$459,915	$894 74	($118,9121	$775,562	$217.039	
•carry fGrward lus amount In Reserve funds.				 !ilr!es 2!!HIA-1 
lnterest-11/1/2020	
$95,983	
				 !ilri1!12!!HIA·2 		
				Interest -11/1/2020	 	$98.890	
				Total	$1941  873 	

1

 Serie& 2018A-1	Serles 2018A	Tolal	
Net Assessment			$243,848		$204,670		$448,318 Collection Cost (6%)		 		$15,552			$13,064			$28,816 Gross Assessment	 		$259,200	 	$217,734	 	$476,934 

Windward Community Development District Series 201BA-1, Special Assessment Revenue Bonds
(Term Bonds Combined)

	Amortization Schedule		
Date	Balance	Principal	Interest	Annual	

5/1/19	
3 460 ,000	
$	
$	82 002	
$	
11/1/19	$ 3,460,000	$	$	97,108	$	179,109	
5/1/20	3 460 000	$	50,000	97 108	$	
11/1/20	$ 3,410,000	$	$	95,983	$	243,090	
5/1/21	$ 3,410,000	$	50,000	$	95,983	$	
11/1/21	$ 3,360,000	$	$	94,858	$	240,840	
5/1/22	$ 3,360,000	$	50,000	$	94,858	$	
11/1/22	$ 3,310,000	$	$	93,733	$	238,590	
5/1/23	$ 3,310,000	$	55,000	$	93,733	$	
11/1/23	$ 3,255,000	$	$	92,495	$	241,228	
5/1/24	$ 3,255,000	$	60,000	$	92,495	$	
11/1/24	$ 3,195,000	$	$	90,965	$	243,460	
5/1/25	$ 3,195,000	$	60,000	$	90,965	$	
11/1/25	$ 3,135,000	$	$	89,435	$	240,400	
5/1/26	$ 3,135,000	$	65,000	$	89,435	$	
11/1/26	$ 3,070,000	$	$	87,778	$	242,213	
5/1/27	$ 3,070,000	$	65,000	$	87,778	$	
11/1/27	$ 3,005,000	$	$	86,120	$	238,898	
5/1/28	$ 3,005,000	$	70,000	$	86,120	$	
11/1/28	$ 2,935,000	$	$	84,335	$	240,455	
5/1/29	$ 2,935,000	$	75,000	$	84,335	$	
11/1/29	$ 2,860,000	$	$	82,423	$	241,758	
5/1/30	$ 2,860,000	$	80,000	$	82,423	$	
11/1/30	$ 2,780,000	$	$	80,143	$	242,565	
5/1/31	$ 2,780,000	$	85,000	$	80,143	$	
11/1/31	$ 2,695,000	$	$	77,720	$	242,863	
5/1/32	$ 2,695,000	$	90,000	$	77,720	$	
11/1/32	$ 2,605,000	$	$	75,155	$	242,875	
5/1/33	$ 2,605,000	$	95,000	$	75,155	$	
11/1/33	$ 2,510,000	$	$	72,448	$	242,603	
5/1/34	$ 2,510,000	$	100,000	$	72,448	$	
11/1/34	$ 2,410,000	$	$	69,598	$	242,045	
5/1/35	$ 2,410,000	$	105,000	$	69,598	$	
11/1/35	$ 2,305,000	$	$	66,605	$	241,203	
5/1/36	$ 2,305,000	$	110,000	$	66,605	$	
11/1/36	$ 2,195,000	$	$	63,470	$	240,075	
5/1/37	$ 2,195,000	$	115,000	$	63,470	$	
11/1/37	$ 2,080,000	$	$	60,193	$	238,663	
5/1/38	$ 2,080,000	$	125,000	$	60,193	$	
11/1/38	$ 1,955,000	$	$	56,630	$	241,823	
5/1/39	$ 1,955,000	$	130,000	$	56,630	$	
11/1/39	$ 1,825,000	$	$	52,925	$	239,555	

Windward Community Development District Series 201SA-1, Special Assessment Revenue Bonds
(Term Bonds Combined)

Amortization Schedule

Date	Balance	Principal	Interest	Annual

5/1/40	$  1,825,000	$	140,000   $	52,925 $
11/1/40	$  1,685,000	$	$	48,865    $	241,790
5/1/41	$  1,685,000	$	145,000   $	48,865 $
11/1/41	$  1,540,000	$	$	44,660    $	238,525
5/1/42	$  1,540,000	$	155,000   $	44,660 $
11/1/42	$  1,385,000	$	$	40,165   $	239,825
5/1/43	$  1,385,000	$	165,000   $	40,165 $
11/1/43	$  1,220,000	$	$	35,380    $	240,545
5/1/44	$  1,220,000	$	175,000   $	35,380 $
11/1/44	$  1,045,000	$	$	30,305   $	240,685
5/1/45	$  1,045,000	$	185,000   $	30,305 $
11/1/45	$	860,000	$	$	24,940   $	240,245
5/1/46	$	860,000	$	195,000   $	24,940 $
11/1/46	$	665,000	$	$	19,285   $	239,225
5/1/47	$	665,000	$	210,000   $	19,285 $
11/1/47	$	455,000	$	$	13,195   $	242,480
5/1/48	$	455,000	$	220,000   $	13,195 $
11/1/48	$	235,000	$	$	6,815   $	240,010
5/1/49	$	235,000	$	235,000   $	6,815   $	241,815
Totals	$ 3,460 ,000 $ 3,949,452 $ 1,409,4s2 I

Windward Community Development District Series 201BA-2, Special Assessment Revenue Bonds
(Term Bonds Due 11/1/2029)

Amortization Schedule

 	Date	Balance	Coupon	Principal	Interest	Annual

11/1/19	$ 3,725,000	5.800%	$	315,000	$	108,025	$	423,025	
5/1/20	$ 3,410,000	5.800%	$	$	98,890	$	
11/1/20	$ 3,410,000	5.800%	$	$	98,890	$	197,780	
5/1/21	$ 3,410,000	5.800%	$	$	98,890	$	
11/1/21	$ 3,410,000	5.800%	$	$	98,890	$	197,780	
5/1/22	$ 3,410,000	5.800%	$	$	98,890	$	
11/1/22	$ 3,410,000	5.800%	$	$	98,890	$	197,780	
5/1/23	$ 3,410,000	5.800%	$	$	98,890	$	
11/1/23	$ 3,410,000	5.800%	$	$	98,890	$	197,780	
5/1/24	$ 3,410,000	5.800%	$	$	98,890	$	
11/1/24	$ 3,410,000	5.800%	$	$	98,890	$	197,780	
5/1/25	$ 3,410,000	5.800%	$	$	98,890	$	
11/1/25	$ 3,410,000	5.800%	$	$	98,890	$	197,780	
5/1/26	$ 3,410,000	5.800%	$	$	98,890	$	
11/1/26	$ 3,410,000	5.800%	$	$	98,890	$	197,780	
5/1/27	$ 3,410,000	5.800%	$	$	98,890	$	
11/1/27	$ 3,410,000	5.800%	$	$	98,890	$	197,780	
5/1/28	$ 3,410,000	5.800%	$	$	98,890	$	
11/1/28	$ 3,410,000	5.800%	$	$	98,890	$	197,780	
5/1/29	$ 3,410,000	5.800%	$	$	98,890	$	
11/1/29	$ 3,410,000	5.800%	$ 3,410,000	$	98,890	$ 3,607,780	
 	Totals	$ 3,725 ,000	$	2,085,825	$	5,810.a25 1	

S ECTION 8

RESOLUTION 2019-08

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WINDWARD COMMUNITY DEVELOPMENT DISTRICT IMPOSING SPECIAL ASSESSMENTS AND CERTIFYING AN ASSESSMENT ROLL; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Windward Community Development District ("the District") is a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes for the purpose of providing, operating and maintaining infrastructure improvements, facilities and services to the lands within the District; and

WHEREAS, the District is located in Osceola County, Florida (the "County"); and

WHEREAS, the District has constructed or acquired various  infrastructure improvements and provides certain services in accordance with the District's adopted Improvement Plan and Chapter 190, Florida Statutes; and

WHEREAS, the Board of Supervisors of the District ("Board") hereby determines to undertake various operations and maintenance activities described in the District's budget for Fiscal Year 2019-2020 ("Operations and Maintenance Budget"), attached hereto as Exhibit "A" and incorporated by reference herein; and

WHEREAS, the District must obtain sufficient funds to provide for the operation and maintenance of the services and facilities provided by the District as described in the District's budget for Fiscal Year 2019-2020; and

WHEREAS, the provision of such services, facilities, and operations is a benefit to lands within the District; and

WHEREAS, Chapter 190, Florida Statutes, provides that the District may impose special assessments on benefitted lands within the District; and

WHEREAS, The District has previously levied an assessment for debt service, which the District desires to collect on the tax roll for platted lots pursuant to the Uniform Method and which is also indicated on Exhibit "A"; and

WHEREAS, Chapter 197, Florida Statutes, provides a mechanism pursuant to which such special assessments may be placed on the tax roll and collected by the local tax collector ("Uniform Method"); and

WHEREAS, the District has previously evidenced its intention to utilize this Uniform Method; and

WHEREAS, the District has approved an Agreement with the Tax Collector of  the County to provide for the collection of the special assessments under the Uniform Method; and

WHEREAS, it is in the best interests of the District to proceed with the imposition of the special assessments; and

WHEREAS, it is in the best interests of the District to adopt the Assessment Roll of the Windward Community Development District (the "Assessment Roll") attached to this Resolution as Exhibit "B" and incorporated as a material part of this Resolution by this reference, and to certify the Assessment Roll on platted property to the County Tax Collector pursuant to the Uniform Method; and

WHEREAS, it is in the best interests of the District to permit the District Manager to amend the Assessment Roll, certified to the County Tax Collector by this Resolution, as the Property Appraiser updates the property roll for the County, for such time as authorized by Florida law.

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

SECTION 1. BENEFIT. The provision of the services, facilities, and operations as described in Exhibit "A" confer a special and peculiar benefit to the lands within the District, which benefits exceed or equal the costs of the assessments. The allocation of the costs to the specially benefitted lands is shown in Exhibits "A" and "B."

SECTION 2. ASSESSMENT IMPOSITION. A special assessment for operation and maintenance as provided for in Chapter 190, Florida Statutes, is hereby imposed and levied on benefitted lands within the District in accordance with Exhibits "A" and "B." The lien of the special assessments for operations and maintenance imposed and levied by this Resolution shall be effective upon passage of this Resolution.

SECTION 3. COLLECTION. The collection of the operation and maintenance special assessments shall be at the same time and in the same manner as County taxes in accordance  with the Uniform Method. The District shall also collect its previously levied debt service assessment pursuant to the Uniform method, as indicated on Exhibits "A" and "B."

SECTION 4. ASSESSMENT ROLL. The District's Assessment Roll, attached to this Resolution as Exhibit "B," is hereby certifieq. to the County Tax Collector and shall be collected by the County Tax Collector in the same manner and time as County taxes. The proceeds there from shall be paid to the Windward Community Development District.

SECTION 5. ASSESSMENT ROLL AMENDMENT. The District Manager shall keep appraised of all updates made to the County property roll by Property Appraiser after the date of this Resolution, and shall amend the District's Assessment Roll in accordance with any such updates, for such time as authorized by Florida law, to the County property roll. After any

amendment of the Assessment Roll, the District Manager shall file the updates to the tax roll in the District records.

SECTION 6. SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

SECTION 7. EFFECTIVE DATE. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board of Supervisors of the Windward Community Development District.

PASSED AND ADOPTED this 21st day of August, 2019.

ATTEST:	WINDWARD COMMUNITY
DEVELOPMENT  DISTRICT

Secretary/ Assistant Secretary

By:_ _ _ _ _ _ _ _ _ _ _ _ _ _

Its:- - - - - - - - - - - - - - -

S ECTION VII

WINDWARD COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020 GENERAL FUND BUDGET DEFICIT FUNDING AGREEMENT

This Agreement is made and entered into effective the 21st day of August 2019, by and between:

The Windward Community Development District, a local unit of special­ purpose government established pursuant to Chapter 190, Florida Statutes, and located in Osceola County, Florida (hereinafter "District"), and

K. Hovnanian at Mystic Dunes, LLC, a Florida limited liability company, the primary landowner and developer in the District (hereinafter "Developer").

Recitals

WHEREAS, the District was established by Ordinance No. 2017-21 of the Osceola County Board of County Commissioners; and

WHEREAS, the District, pursuant to Chapter 190, Florida Statutes, is authorized to levy such taxes, special assessments, fees and other charges as may be necessary in furtherance of the District's activities and services; and	·

WHEREAS, the District has adopted its general fund budget for its Fiscal Year 2020 operations and maintenance expenses in the amount of$ _ _   _   which fiscal year commences on October 1, 2019, and concludes on September 30, 2020 ("Fiscal Year 2020 Budget"); and

WHEREAS, the Fiscal Year 2020 Budget, which all parties recognize may be amended from time to time in the sole discretion of the District, subject to the rights set forth in Section 1 herein, is attached hereto and incorporated herein by reference as Exhibit "A"; and

WHEREAS, the District has budgeted $_  _ _  , for  the  Fiscal  Year 2020 Budget, which is to be funded by the levy of assessments on benefitted parcels; and

WHEREAS, Developer presently owns and/or is developing real property described in Exhibit "B", attached hereto and incorporated herein, (the "Developer Property") within the District, which property will benefit from the timely construction and acquisition of the District's facilities, activities and services and from the continued operations of the District; and

WHEREAS, Developer has informed the District that there may be additional improvements resulting in additional operation and /or maintenance costs during Fiscal Year 2020 that are not accounted for in the Fiscal Year 2020 Budget; and

WHEREAS, the assessments imposed by the District upon the  benefited  lands to fund the Fiscal Year 2020 Budget may result in a deficit in revenues received by the District in the event additional improvements or field activities are required during Fiscal Year 2020; and

WHEREAS, the Developer has requested and the District has agreed that the District shall not levy operation and maintenance  assessments  in excess of $	to fund the Fiscal
Year  2020 Budget  and instead  allow  Developer  to fund  any  monies  needed  in excess of  the
$	levied to fund the current amounts provided in the Fiscal Year 2020 Budget.

NOW, THEREFORE, based upon good and valuable consideration and the mutual covenants of the parties, the receipt of which and sufficiency of which is hereby acknowledged, the parties agree as follows:

Funding. Developer agrees tD pay the District's actual Fiscal Year 2020 Budget expenses for Fiscal Year 2020, to the extent such expenses exceed the special assessments levied and collected by the District for the Fiscal Year 2020 Budget, within thirty (30) days of written request by the District. The funds shall be placed in the District's general checking account. Developer's payment of funds pursuant to this Agreement in no way impacts Developer's obligation to pay assessments on land it owns within the District. In no respect shall  the foregoing in any way affect the District's ability to levy special assessments upon the property within the District, including the Developer Property, in accordance with Florida law to provide funds for any unfunded expenditures whether such expenditures are the result of an amendment to the District's Fiscal Year 2020 Budget or otherwise.

Alternative Methods of Collection. In the event Developer fails to make payments due to the District pursuant to this Agreement, and the District first provides the Developer with written notice at the address identified in Section 4 of this Agreement of the delinquency and such delinquency is not cured within five (5) business days of the notice, then the District shall have the following remedies:

The District shall have the right to file a continuing lien upon the Developer Property for all payments due and owing under the terms of this Agreement and for interest thereon, and for reasonable attorneys' fees, paralegals' fees, expenses and court costs incurred by the District incident to the collection of funds under this Agreement or for enforcement of this lien, and all sums advanced and paid by the District for taxes and payment on account of superior interests, liens and encumbrances in order to preserve and protect the District's lien.  The lien shall be effective as of the date and time of the recording of a "Notice of Lien for FY 2019-2020 Budget" in the public records of Osceola County, Florida, stating among other things, the description of the real property and the amount due as of the recording of the Notice, and the existence of this Agreement. The District Manager, in its sole discretion, is hereby authorized by the District to file the Notice of Lien for FY 2019-2020 Budget on behalf of the District, without the need of further Board action authorizing or directing such filing. At the District Manager's direction, the District may also bring an action at law against the record title holder to the Developer Property to pay the amount due under this Agreement, or may foreclose the lien against the Property in any manner authorized by law. The District may partially release any

filed lien for portions of the Property subject to a plat if and when Developer has demonstrated, in the District' s sole discretion; such release will not materially impair the ability of the District to enforce the collection of funds hereunder. In the event the Developer sells any of the property subject to this Agreement after the execution of this Agreement, Developer's rights and obligations under this Agreement shall remain the same, provided however that the District shall only have the right to file a lien upon the rem:=tining property owned by Developer.

In the alternative or in addition to the collection method set forth in 2.a., above, the District may enforce the collection of funds due under this Agreement by action against the Developer in the appropriate judicial forum in and for Osceola County, Florida. The enforcement of the collection of funds in this manner shall be in the sole discretion of the District Manager on behalf of the District. In the event that any party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the prevailing party shall be entitled to recover from the other all costs incurred, including reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.

The District hereby finds that the activities, operations and services set out in Exhibit "A" would provide a special and peculiar benefit to the Developer Property, which benefit is determined in accordance with the District's adopted assessment methodology  on file in the District's public records. Developer agrees that the activities, operations and services set forth in Exhibit A provide a special and peculiar benefit to the Developer Property equal to or in excess of the costs set out in Exhibit "A", as such may be amended by the District. Therefore, in the alternative or in addition to the other methods of collection set forth in this Agreement, the District, in its sole discretion, may choose to certify amounts due hereunder as a non ad valorem assessment on the Developer's Property for collection either through the Uniform Method of Collection set forth in Chapter 197 or under any method of direct bill and collection authorized by Florida law. Such assessment, if imposed, may be certified on the next available tax roll of the Osceola County property appraiser.

Right to Reimbursement. The Developer agrees to fund any of the District's Fiscal Year 2020 Budget expenses in excess of the Fiscal Year 2020 Budget assessments collected without any reimbursement by the District.

Notice. All notices, payments and other communications hereunder ("Notices") shall be in writing and shall be delivered, mailed by First Class Mail, postage prepaid, or telecopied to the parties, as follows:

If to Developer:		K. Hovnanian at Mystic Dunes, LLC 2301 Lucien Way, Suite 260
Maitland, Florida 32751 Attn: -   -   -   -   -   -   -   - -

If to the District:

With a copy to:

Windward Community Development District 135 West Central Blvd., Suite 320
Orlando, Florida 32801 Attn: District Manager

Latham, Shuker, Eden & Beaudine, LLP 111 N. Magnolia Avenue, Suite 1400
Orlando, Florida 32801 Attn: Jan Carpenter

Amendment. This instrument shall constitute the final and complete expression of the agreement between the parties relating to the subject matter of this Agreement. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by both of the parties hereto.

Authoritv. The execution of this Agreement has been duly authorized by the appropriate body or official of all parties hereto, each party has complied with all the requirements of law, and each party has full. power and authority to comply with the terms and provisions of this instrument.

Assignment. This Agreement may not be assigned, in whole or in part, by either party except upon the written consent of the other. Any purported assignment without such consent shall be void.

Default. A default by any party under this Agreement shall entitle all others to all remedies available at law or in equity, which shall include, but not be limited to, the right of damages, injunctive relief and specific performance and specifically including the ability of the District to enforce any and all payment obligations under this Agreement through the imposition and enforcement of a contractual or other lien on property owned by the Developer.

Attorneys' Fees. In the event that either party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the prevailing party shall be entitled to recover from the other all costs incurred, including reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.

Beneficiaries. This Agreement is solely for the benefit of the formal parties herein and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit
of any third party  not a formal party hereto·.   Nothing  in this Agreement expressed or implied is
intended or shall be construed to confer upon any person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the parties hereto and their respective representatives, successors and assigns. In the event the Developer sells or otherwise disposes of its business or of all or substantially all of its assets relating to improvements, work product,  or lands within the District,  the Developer  shall continue  to be bound  by the terms of

this Agreement and additionally shall expressly require that the purchaser agree to be bound by the terms of this Agreement.

Applicable Law. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida.

Negotiation at Arm's Length. This Agreement has been  negotiated  fully between the parties as an arm's length transaction. The parties participated fully in  the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are each deemed to have drafted, chosen and selected·the language, and the doubtful language will not be interpreted or construed against any party.

Term. This Agreement shall be effective after execution by Developer and shall terminate on September 30, 2020. The enforcement provisions of this Agreement  shall survive its termination, until all payments due under this Agreement are paid in full.

[remainder of page intentionally left blank]

In witness whereof, the parties execute this agreement the day and year first written
above.

Attest:	WINDWARD COMMUNITY DEVELOPMENT DISTRICT

Secretary	Chairman/Vice Chairman

Attest

Witness

(Printed Name)

Witness

(Printed Name)

K. Hovnanian at Mystic Dunes, LLC,
a Florida limited liability company /corporation

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

Exhibit "A"	Fiscal Year 2019-2020 Genenil Fund Budget. Exhibit "B"	Developer Property Description.

S ECTION VI11

S	ECTION C

S ECTION 1

Windward
Community Development District
Summar y of Check Reglster
May 9, 2019 to June 11, 2019

	Fund	Date	CheckNo.'s		Amount		
General Fund		5/10/19	162	$		4,922.42	
		5/13/19	163-165	$		8,198.61	
		5/20/19	166-167	$		3,717.86	
		6/10/19	168-170	$		2,803.02	
$	19,641.91	

Payroll	May2019
Thomas Franklin	50019	$	184.70
$	184.70
$	19,s26.61 I

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN 6/11/19
*** CHECK DATES 05/09/2019 - 06/11/2019 ***	WINDWARD COD - GENERAL FUND
BANK A GENERAL FUND

PAGE	l

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

STATUS	AMOUNT	••••CHECK.....
AMOUNT	#

5/10/19 00001

5/01/1935	201905 310-51300-34000

*

*

MANAGEMENT FEES-MAY19 5/01/1935	201905 310-51300-35100
INFORMATION TECH-MAY19
5/01/1935	201905 310-51300-31300	*
DISSEMINATION-MAY19
5/01/1935	201905 310-51300-51000	*
OFFICE SUPPLIES
5/01/1935	201905 310-51300-42000	*
POSTAGE
5/01/1935	201905 310-51300-42500	*
COPIES
5/01/1936	201905 320-53800-12000	*
FIELD MANAGEMENT-MAY19
5/01/1937	201905 320-53800-57400	*
GATEHOUSE MAINT-MAY19
-  -  - -  -  - - -  - - -  -  -  -  -  - - -GO-VERNMENTAL MANAGEMENT SERVICES-CF

2,916.67
50.00
291.67
20.33
19.65
74.10
1,250.00
300.00

4,922.42 000162

5/13/19 00019

3/23/19 71022	201903 320-53800-57400
RPR ARCHWAY/STUCCO/PAINT

*	5,100.00

RAMON VELEZ OBA COVERALL CLEANING	5,100.00 000163

5/13/19	00010	5/02/19 41336 39 201904 320-53800-43000	*		890.03		
		5/06/19 09395 13 201904 320-53800-43000	*		13.86		
		5/06/19 36031 01 201904 320-53800-43000	*		15.88		
		5/06/19 38944 40 201904 320-53800-43000	*		126.67		
		5/06/19 50952 80 201904 320-53800-43000	*		52.17		

5/13/19	
00020	DUKE ENERGY
5/02/19 18216	201905 310-51300-32200	
*	- -	- - - - - - - -	-1-,0-98.-61-  000164	

5/20/19	
00008	- - - -  - - - - - - -  -  -  -  -  - - -GR-AU &   ASSOCIATES 4/18/19 33987	201903 320-53800-46400	
*	- -	- - - - - - - -	-2-,00-0.-00-  000165	

5/20/19	

00002	5/10/19 35931	201905 320-53800-46800
-  - - -  -  -  -  - - - - -  - - -  -  - -DO-WN TO EARTH LAWNCARE 5/14/19 85590	201904 310-51300-31500	*

*		3,166.67

451.50	
3,266.36 000166	

79811 FOUR SEASON,ENT.LIT
79011 HANSON BAY PL,IRRG
24081 SANDY CREEK TRL,IRG
7980 FOUR SEASON BLVD,GH
78151 FOUR SEASON,LDSP LT

FY18 AUDIT THRU 09/30/18

2,000.00

IRG.RPR-03/12/19 MDL HOME LANDSCAPE MAINT-MAY19

99.69

REV.AGNDA/MIN/ATTEND MTG

LATHAM,SHUKER,EDEN & BEAUDINE,LLP

451.50 000167

WWRD --WINDWARD--	TVISCARRA

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN 6/11/19
***  CHECK DATES 05/09/2019 - 06/11/2019 ***	WINDWARD CDD - GENERAL FUND
BANK A GENERAL FUND

PAGE	2

CHECK DATE	VEND#	....•INVOICE••...••.EXPENSED TO...	VENDOR NAME DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS	STATUS	AMOUNT	...•CHECK..••• AMOUNT	#	
6/10/19	00008	5/31/19 38247	201904 320-53800-46800	*	580.33		
		5/31/19 38247A	201905 320-53800-46800
DOWN TO EARTH LAWNCARE	*	1,088.12	
1,668.45 000168	
6/10/19	00010	6/03/19 41336 39 201905 320-53800-43000
DUKE ENERGY	*	834.57	
834.57 000169	

PHASE3A-CLBHS RDWAY-APR19 PHASE3A-CLBHS RDWAY-MAY19

79811 FOUR SEASON,ENT.LIT

6/10/19 00012

6/01/19 1199	201906 320-53800-46900
FOUNTAIN SERVICE-JUN19

*	300.00

MARA SOLUTION CORP.	300.00 000170

TOTAL FOR BANK A TOTAL FOR REGISTER

19,641.91
19,641.91

WWRD --WINDWARD--	TVISCARRA

Windward
Community Development District
Summary of  Check Register

June 11, 2019 to August 16, 2019

	Fund	Date	CheckNo.'s		Amount		
General Fund		6/12/19	171	$		4,920.89	
		6/17/19	172-174	$		900.29	
		6/24/19	175-176	$		4,990.29	
		7/7/19	177	$		4,873.07	
		7/11/19	178	$		300.00	
		7/17/19	179-180	$		3,560.25	
		7/31/19	181-182	$		1,301.01	
		8/5/19	183	$		30,871.00	
		8/7/19	184	$		1,920.88	
		8/14/19	185-186	$		33,938.09	
		8/15/19	187	$		1,638.45	
$	89,214.22	

$	s9,214.22 I

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN 8/16/19
***  CHECK DATES 06/11/2019 - 08/16/2019 ***	WINDWARD COD - GENERAL FUND
BANK A GENERAL FUND

PAGE	1

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

STATUS	AMOUNT	••..CHECK•....
AMOUNT	#

6/12/19 00001

6/17/19 00010

6/17/19 00020

6/01/1938	201906 310-51300-34000
MANAGEMENT FEES-JUN19 6/01/1938	201906 310-51300-35100
INFORMATION TECH-JUN19 6/01/1938	201906 310-51300-31300
DISSEMINATION FEE-JUN19 6/01/1938	201906 310-51300-51000
OFFICE SUPPLIES
6/01/1938	201906 310-51300-42000
POSTAGE
6/01/1938	201906 310-51300-42500
COPIES
6/01/1939	201906 320-53800-12000
FIELD MANAGEMENT-JUN19 6/01/1940	201906 320-53800-57400
GATEHOUSE MAINT-JUN19
GOVERNMENTAL MANAGEMENT SERVICES-CF
6/05/19 09395 13 201905 320-53800-43000
79011 HANSON BAY PL,IRRG
6/05/19 36031 01 201905 320-53800-43000
24081 SANDY CREEK TRL,IRG
6/05/19 38944 40 201905 320-53800-43000
7980 FOUR SEASONS BLVD,GH
6/05/19 50952 80 201905 320-53800-43000
78151 FOUR SEASON,LDSP LT
DUKE ENERGY
6/03/19 18385	201906 310-51300-32200
FY18 AUDIT-FINAL PAYMENT

*	2,916.67
*	50.00
*	291.67
*	20.24
*	32.31
*	60.00
*	1,250.00
*	300.00
-  - - - -  -  -  -  -  - -4-,92-0.-89- 000171
*	13.73
*	15.63
*	135.74
*	38.94
-  -  -  -  -  -  - - -  -  - -20-4-.04- 000172
*	500.00

6/17/19 00004

6/24/19 00008

-  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -G-RAU &   ASSOCIATES 5/07/19 67654960 201905 310-51300-48000
NOT.OF MEETING 05/15/19
- - - - - - - - - - - -  -  -  -  -  -  -O-RLANDO SENTINEL 6/10/19 35957	201906 320-53800-46800
LANDSCAPE MAINT-JUN19
6/10/19 35957	201906 320-53800-46800
PHASE3A-CLBHS RDWAY-JUN19

-  -  -  -  -  -  -  - - - -  -5-00-.00-
*	196.25
- - -  -  - - - - -  - - -19-6-.25-
*	3,166.67
*	1,088.12

000173

000174

-

- - -  -  -  -  -  -  -  -  -  - - - - -  -  -D-OWN TO EARTH LAWNCARE	- - -  -  -  -  - - - - -4,-25-4.-79 000175

6/24/19 00002

6/19/19 86353	201905 310-51300-31500
COD MEETING/REVIEW AGNDA

*	735.50

LATHAM,SHUKER,EDEN &  BEAUDINE,LLP	735.50 000176

WWRD --WINDWARD--	TVISCARRA

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN 8/16/19
***  CHECK DATES 06/11/2019 - 08/16/2019 ***	WINDWARD CDD - GENERAL FUND
BANK A GENERAL FUND

PAGE	2

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

*	2,916.67		
*	50.00		
*	291.67		
*	1.14		
*	16.34		
*	47.25		
*	1,250.00		
*	300.00		

7/07/19 00001	7/01/1941	201907 310-51300-34000
MANAGEMENT FEES JUL19 7/01/1941	201907 310-51300-35100
INFORMATION TECH JUL19 7/01/1941	201907 310-51300-31300
DISSEMINATION FEE JUL19 7/01/1941	201907 310-51300-51000
OFFICE SUPPLIES JUL19 7/01/1941	201907 310-51300-42000
POSTAGE JUL19
7/01/1941	201907 310-51300-42500
COPIES JUL19
7/01/1942	201907 320-53800-12000
FIELD MANAGEMENT JUL19 7/01/1943	201907 320-53800-57400
GATEHOUSE MAINT. JUL19

AMOUNT

•.••CHECK••••• AMOUNT	#

7/11/19 00012

7/17/19 00008

GOVERNMENTAL MANAGEMENT SERVICES-CF
7/01/19 1222	201907 320-53800-46900
FOUNTAIN SERVICE-JUL19
- - - - - - - - - - - - - - - -  -  -MA-RA SOLUTION CORP. 6/27/19 39661	201906 320-53800-46400
RPLC 150 NOZZLE/SPRY/RNBD
6/30/19 41322	201906 320-53800-46700
INST.SUMMER ANNUAL-JUN19
- - - - - - - - - - - - - - - - - -DO-WN TO EARTH LAWNCARE

*	300.00

*	363.25
*	2,542.00

4,873.07 000177

300.00 000178

2,905.25 000179

7/17/19	00012	

7/31/19	
00014	

7/31/19	
00002	

8/05/19	
00009	

8/07/19	
00013	

7/09/19 1132	201907 320-53800-46900
RPLC MOTOR/SEAL/ORING/IMP
-  -  - -  - - - - - - - - - - - - - -M-ARA SOLUTION CORP. 7/18/19 Sll0219	201907 320-53800-57400
REPAIR TOGGLE/REPLACE ARM
- - - - -  -  -  -  -  -  -  -  -  -  -  -  -  -AC-CESS CONTROL TECHNOLOGIES, INC. 7/17/19 86541	201906 310-51300-31500
AUDIT/CONYEYANCE DOCUMENT
-  - - - - - - - - - - -  - -  -  -  -  -LA-THAM,SHUKER,EDEN &    BEAUDINE,LLP 6/27/19 00262245 201906 320-53800-43100
0 FOUR SEASONS BOULEVARD
- -  -  -  -  - - - - - - - - -  -  -  -  -T-OHO WATER AUTHORITY 7/31/19 18-021(1 201906 310-51300-31100
ENGINEERS SVCS-JUN19

*	655.00

*	427.34

*	873.67

*	30,871.00

*	1,920.88

655.00 000180

427.34 000181

873.67 000182

30,871.00 000183

POULOS & BENNETT

1,920.88 000184

WWRD --WINDWARD--	TVISCARRA

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN 8/16/19
*** CHECK DATES 06/11/2019 - 08/16/2019 ***	WINDWARD CDD - GENERAL FUND
BANK A GENERAL FUND

PAGE	3

CHECK VEND# DATE	•...•INVOICE.•......EXPENSED TO...	VENDOR NAME DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS	STATUS	AMOUNT	••••CHECK.•... AMOUNT	#	
8/14/19 00008	7/10/19 40839	201907 320-53800-46800	*	3,166.67		

8/14/19 00009

8/15/19 00013	7/10/19 40839	201907 320-53800-46800
-  -  -  - - -  -  - -  -  -  - - -  -  -  -DO-WN TO EARTH LAWNCARE 7/27/19 00262245 201907 320-53800-43100
- -  -  -  -  -  -  - - - -  -  - - -  -  -T-OHO WATER AUTHORITY
2/28/19 18-021(1 201901 300-20700-10100	*

*

*	1,088.12

29,683.30

392.20	
4,254.79 000185

29,683.30 000186	
					
5/31/19	18-021(1 201904 310-51300-31100	*	440.00	
6/30/19	18-021(1 201905 310-51300-31100	*	806.25	

LANDSCAPE MAINT-JUL19 PHASE3A-CLBHS RDWAY-JUL19

0 FOUR SEASON BOULEVARD

REQ.l REIMB. DOCUMENTS PREP & ATTEND CDD MEETING PREP & ATTEND COD MEETING

POULOS & BENNETT

1,638.45 000187

TOTAL FOR BANK A TOTAL FOR REGISTER

89,214.22
89,214.22

WWRD --WINDWARD--	TVISCARRA

S ECTION 2

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Windward
Community Development District

Unaudited Financial Reporting July 31, 2019

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TABLE OF CONTENTS

BALANCE SHEET

GENERAL FUND INCOME STATEMENT

SERIES 2018 DEBT SERVICE INCOME STATEMENT

SERIES 2018 CAPITAL PROJECTS INCOME STATEMENT

MONTH TO MONTH

LONG TERM DEBT SUMMARY

ASSESSMENT  RECEIPT SCHEDULE

WINDWARD
COMMUNITY DEVELOPMENT DISTRICT BALANCE SHEET
July 31, 2019

GENERAL	DEBT SERVICE
FUND	FUND	CAPITAL PROJECTS
FUND	
TOTALS	
awn.
CASH	
$92,225			
$92,225	
INVESTMENTS					
SERIES 2018 A-1/A-2					
RESERVEA-1		$121,730		$121,730	
RESERVEA-2		$119,480		$119,480	
REVENUE		$1,184		$1,184	
INTEREST A-1		$97,108		$97,108	
INTEREST A-2		$119,480		$119,480	
PREPAYMENT A-2		$435,492		$435,492	
CONSTRUCTION			$5,264	$5,264	
DUE FROM GENERAL FUND			$1,230	$1,230	
DUE FROM HOA	$52,001	$52,001	
TOTAL ASSETS	$144,226	 	$894,474	$6,494	$1,04S,194	
LIABILITIES;			
ACCOUNTS PAYABLE	$67,888	$67,888	
DUE TO CAPITAL PROJECTS FUND	$1,230	$1,230	
FUND EO\HJY;			
FUND BALANCES:			
RESTRICTED FOR DEBT 2018		$894,474		$894,474	
RESTRICTED FOR CAPITAL PROJECTS 2018			$6,494	$6,494	
UNASSIGNED	$75,107			$75,107	
TOTAL LIABILITIES & FUND EQUITY	$144,226	$894,474	$6,494	$1,045,194	

WINDWARD
COMMUNITY DEVELOPMENT DISTRICT

GENERAL FUND
Statement of  Revenues & Expenditures
ForThe Period Ending July 31, 2019

ADOPTED	PRORAnD BUDGET	ACTUAL
 	BUDGET	THRU 7/31/19	THRU 7/31/19	VARIANCE 

REVENUES;		
SPEOALASSESSMENTS	$71,854	$71,854	
$61,988	
($9,866)	
DIRECT ASSESSMENTS	$240,973	$240,973	$240,973	$0	

TOTAL REVENUES	 	$312,827	$312,827	$302,961	$0 

EXPENQIJURES;

ADMIN/STRAnVE;		

SUPERVISORS FEES	
$4,800	$4,000	
$1,000	
$3,000	
FICA EXPENSE	$367	$306	$77	$229	
ENGi NEERING	$12,000	$10,000	$4,175	$5,825	
ATTORNEY	$25,000	$20,833	$7,393	$13,440	
ARBITRAGE	$450	$0	$0	$0	
DISSEMINATION	$3,500	$2,917	$2,092	$825	
ANNUAL AUDIT	$5,000	$2,500	$2,500	$0	
TRUSTEE FEE	$5,000	$0	$0	$0	
ASSESSMENT ADMINISTRATION	$5,000	$5,000	$5,000	$0	
MANAGEMENT FEES	$35,000	$29,167	$29,167	($0)	
INFORMATION TECHNOLOGY	$600	$500	$500	$0	
TELEPHONE	$300	$250	$0	$250	
POSTAGE	$1,000	$833	$170	$663	
INSURANCE	$5,500	$5,500	$5,000	$500	
PRINTING & BlNDING	$1,000	$833	$362	$472	
LEGAL ADVERTISING	$2,500	$2,083	$196	$1,887	
OTHER CURRENT CHARGES	$1,000	$833	$0	$833	
OFFICE SUPPLIES	$625	$521	$84	$437	
PROPERTY APRAISER	$500	$500	$278	$222	
PROPERTY TAXES	$250	$250	$0	$250	
TRAVEL PER DIEM	$660	$550	$106	$444	
DUES, LICENSES & SUBSCRIPTIONS	$175	$175	$175	$0	
Elf.Ill.Q.eE.BAnQll.s:					

FIELD SERVICES	
$15,000	$12,500	
$12,500	
$0	
TELEPHONE	$3,500	$2,917	$0	$2,917	
ELECTRIC	$26,000	$21,667	$9,552	$12,114	
WATER& SEWER	$58,000	$48,333	$98,666	($50,333)	
SECURITY BUILDING MAINTENANCE	$10,000	$8,333	$8,684	($351)	
LANDSCAPE MAINTENANCE	$48,000	$40,000	$35,511	$4,489	
LANDSCAPE CONTINGENCY	$15,000	$12,500	$10,168	$2,332	
PROPERTY INSURANCE	$6,DOO	$6,000	$2,394	$3,606	
FOUNTAIN MAINTENANCE	$4,200	$3,500	$3,175	$325	
LAKE MAINTENANCE	$6,000	$5,D00	$0	$5,000	
IRRIGATION REPAIRS	$4,000	$3,333	$1,376	$1,957	
UGHTING MAINTENANCE	$2,500	$2,083	$0	$2,083	
MONUMENT MAINTENANCE	$1,400	$1,167	$0	$1,167	
ROADWAY MAINTENANCE	$1,500	$1,250	$0	$1,250	
MISC. CONTINGENCY	$1,500	$1,250	$368	$882	

TOTAL EXPENDITURES	 	$312,827	$257,385	$240,668	$16,717 	
EXCESS REVENUES (EXPENDITURES)	 	$0		$62,293		
FUND BALANCE· Beglnnlrc	 	$0		$12,814		
FUND BALANCE • Ending	 	$0		$75,107		

WINDWARD
COMMUNITY DEVELOPMENT DISTRICT

DEBT SERVICE FUND
Series 2018
Statement of Revenues & Expenditures
For The Period Ending July 31, 2019

REVENUES;

ADOPTED BUDGET

PRORATED BUDGET THRU 7/31/19

ACTUAL
THRU 7/31/19	VARIANCE

ASSESSMENTS- PREPAYMENTS BOND PROCEEDS
INTEREST

$0	$0
$0	$0
$0	$0

$585,492
$640,694
$1,184

$585,492
$640 ,694
$1,184

TOTAL REVENUES	$0	$0	$1,227,370	$1,227,370

EXPENDITURES:

Serles 2018A-1
INTEREST· 05/01
Serles 2018A-2 INTEREST - 05/01 SPEOAL CALL- 05/01

TOTAL EXPENDITURES

EXCESS REVENUES (EXPENDITURES)

$0	$0	$82,002	($82,002)

$0	$0	$100,894	($100,894)
$0	so	$1 50,000	($150,000)

$0	$0	$332,896	($332,896)

$0	$894,474

FUNDBAlANCE • Beglnnhw	 	$0	$0

FUND BALANCE-Ending

$0	$894,474

WINDWARD
COMMUNITY  DEVELOPMENT DISTRICT

CAPITAL PROJECTS FUND
Series 2018
Statement of Revenues & Expenditures
For The Period Ending July 31, 2019

	ADOPTED
BUDGET		PRORATED BUDGET
THRU 7/31/19		AOUAL
THRU 7/31/19	
VARIANCE	
REVENUES:								
BOND PROCEEDS			$0		$0	$6,939,306	$6,939,306	
INTEREST			$0		$0	$2,694	$2,694	
TOTAL REVENUES			$0		$0	$6,942,000	$6,942,000	

EXPENPIJURES;								
CAPITALOUTLAY-O)NSTRUCTION			$0		$0	$6,610,450	($6,610,450}	
CAPITAL OUTLAY- rosr OF ISSUANCE			$0		$0	$325,056	($325,056)	

TOTAL EXPENDITURES	 	$0	$0	$6,935,506	($6,935,506)	

EXCESS REVENUES (EXPENDITURES)	 	$0	$6,494	
FUND BALANCE-Beginning	$0	$0	
			
FUND BALANCE - Ending	$0	$6,494	

WINDWARD
COMMUNITY  DEVELOPMENT DISTRICT
OCT	NOV	DEC	JAN	FfB	MAA	..,R	MAY	JiJA	JUL	AUG	SEP	TOTAL

so	so	so

SPEOAL ASSESSMENlS	$0	$0	$60,140	$11	$0	$&18	$1,228	$0	$0	$0	$0	$0	$61,988
DIRECT ASSESSMENTS	$0	$120,487	$0	$0	$&1,243	$&1,243	$0	$0	$0	$240,973
TOTAL REVENUES	I	IAEFI	!;!20,487	$60,140	S11	560,243	S608	S6Ji;!12	w	$0	$0	so	$0	m 21961 1

APMJNISTHAIM 
SUPERVISOR FEES		
$400	$400	
$0	
$0	so	$0	
$0	
$200	so	$0	so	so	
$1,000	
FICA EXPENSE		$31	$31	$0	so	so	so	so	$15	so	$0	$0	$0	Sn	
ENGINEERING		$678	$0	so	$330	$0	$0	$440	$806	$1,921	$0	$0	$0	$4,175	
ATTORNEY		$761	$2,733	$256	$1,1S2	$107	$324	$4S2	$736	$874	$0	$0	$0	$7,393	
ARBITRAGE		$0	$0	$0	$0	$0	so	$0	$0	$0	$0	$0	$0	$0	
DISSEMINATION		$0	$0	$0	$292	$292	$342	$292	$292	$292	$292	$0	$0	$2,092	
ANNUAL AUDIT		$0	$0	$0	$0	$0	$0	$0	$2,000	$500	$0	$0	$0	$2,500	
TRUSTEE FEE		$0	$0	$0	$0	$0	$0	$0	$0	so	$0	so	$0	$0	
ASSESSMENT ADMINISTRATION		$5,000	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$5,000	
MANAGEMENT FEES		$2,917	$2,917	$2,917	$2,917	$2,917	$2,917	$2,917	$2,917	$2,917	$2,917	$0	$0	$29,167	
INFORMATION TECHNOLOGY		$SO	$50	$SO	$50	$50	$50	$50	$SD	$50	$SD	$0	$0	$500	
TELEPHONE		so	$0	so	$0	so	$0	$0	so	$0	$0	$0	so	$0	
POSTAGE		$3	$38	$4	$7	$4	$4	$42	$20	$32	$16	$0	$0	$170	
INSURANCE		$S,OOD	$0	$0	$0	$0	$0	$0	so	so	$0	$0	$0	$S,000	
PRINTING & BINDING		$4	$104	$68	$0	$0	$2	$3	$74	$60	$47	$0	$0	$362	
LEGAL ADVERTISING		$0	$0	$0	$0	$0	$0	$0	$196	$0	$0	$0	$0	$196	
OTHER CURRENT CHARGES		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
OFFICE SUPPLIES		$0	$20	$20	$1	$0	$0	$0	$20	$20	$1	$0	$0	$84	
PROPERTY APPRAISER		$0	$0	$0	$278	$0	$0	$0	$0	$0	$0	$0	$0	$278	
PROPERTY TAXES		$0	$0	$0	$0	$D	$0	$0	$0	$0	$0	so	$0	$0	
TRAVEL PER DIEM		$S2	$53	$0	$0	$0	$0	so	$0	$0	$0	$0	so	$106	
DUES, LICENSES & SUBSC111PTIONS		$175	so	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$175	
flELP OffBARQNS
FIELD SERVICES		
$1,250	$1,250	
$1,250	
$1,250	
$1,250	$1,250	
$1,250	
$1,250	
$1,250	
$1,250	$0	
$0	
$12,500	
TELEPHONE		$0	so	$0	$0	$0	$0	$0	$0	$0	so	$0	$0	$0	
ELECTRIC		$960	$1,091	$1,292	$1,105	$1,167	$892	$1,099	$1,039	$0	$908	$0	so	$9,SS2	
WATER & SEWER		$0	$8,387	$3,049	s2,n6	$7,640	$9,753	$15,696	$19,526	$13,035	$18,l!DS	$0	$0	$98,666	
SECURITY BUILDING MAJIITENANCE		so	$385	$495	$314	5314	$5, 100	$750	$300	$300	$727	$0	$0	$8,684	
LANDSCAPE MAINTENANCE		$3,167	$3,167	$3,167	$3,167	$3,167	$3,167	$3,747	$4,255	$4,255	$4,255	so	so	$35,511	
LANDSCAPE CONTINGENCY		$2,542	so	$0	$2,542	$0	$0	$2,542	so	$2,542	so	$0	so	$10,168	
PROPERTY INSURANCE		$2,394	$0	$0	$0	$0	$0	$0	so	$0	$0	$0	$0	$2,394	
FOUNTAIN MAINTENANCE		$300	$300	$300	$300	$300	$300	$300	$300	$300	$475	$0	$0	$3,17S	
LAKE MAINTENANCE IRRIGATION REPAIRS		$0	$0
$0	$216	so
$192	$0
$392	$0	$0
$71	$143	$0
$0	$0
so	so
$363	$0	so
$0	so	$0
$0	so
$1,376	
LIGHTING MAINTENANCE		so	$0	so	$0	$0	$0	$0	$0	so	$0	$0	$0	so	
MONUMENT MAINTENANa:		$0	so	so	$0	$0	$0	$0	$0	so	so	$0	so	so	
ROADWAY MAIIITENANCE		$0	so	$0	$0	$0	$0	so	$0	$0	so	$0	$0	$0	
MISC. CONTINGENCY		$0	$224	$0	$0	$14	$130	so	$0	$0	so	$0	so	$368	
TOTAL EXPENDITURES	I	 	$25,682	$21,366		$13 06D	$161 871	 	$17,291	$24,371		$:29 79	$331 995	$20,710	 	$29,743	$0		so	$240,668 1	
Excess RevenW!!t (Expendituft!1)	I	I REFI	$991  121	$471 080	1s1&.860!	$42,952	1s13 17611	$31,l!53	i$33,99Sl	1s2a,1101	i$29.743!	$0	$0	$62,293 1	

RPENPfflJB§!

1

5

WINDWARD
COMMUNITY DEVELOPMENT DISTRICT
LONG TERM DEBT REPORT

SERIES 2018A-1, SPECIAL ASSESSMENT REVENUE BONDS	
INTEREST RATES:	4.500%,5.100%, 5.700%, 5.800%	
MATURITY DATE:	5/1/2049	
RESERVE FUND DEFINITION	50% MAXIMUM ANNUAL DEBT SERVICE	
RESERVE FUND REQUIREMENT	$121,730	
RESERVE FUND BALANCE	$121,730	
BONDS OU.TSTANDING-11/07/18	$3,460,000	
CURRENT BONDS OUTSTANDING	$3,460,000	

SERIES 2018A-2, SPECIAL ASSESSMENT REVENUE BONDS	
INTEREST RATES:	5.800%	
MATURITY DATE:	11/1/2029	
RESERVE FUND DEFINITION	50% MAXIMUM ANNUAL INTEREST	
RESERVE FUND REQUIREMENT	$115,130	
RESERVE FUND BALANCE	$119,480	
BONDS OUTSTANDING-11/07/18	$4,120,000	
SPECIAL CALL- 05/01/19	($150,000)	
CURRENT BONDS OUTSTANDING	$3,970,000	

Windward
COMMUNITY DEVELOPMENT DISTRICT SPEOAL ASSESSMENT RECEIPTS • FV2019 TAX COLLECTOR
GROSS ASSESSMENTS $	6S,80S $	6S,80S	
NET ASSESSMENTS $	61,856 $	61,856	

DATE RECEIVED	
Check No.	GROSS ASSESSMENTS DISCOUNTS/  COMMISSIONS	INTEREST	NET AMOUNT RECEIVED	PENALTIES	PAID		INCOME		RECEIVED	GENERAL FUND	TOTAL
100.00%	100%	

12/10/18	
ACH	
$	51,390.22     $   2,055.54   $	986.70    $	$	48,347.98	
$	48,347.98    $	48,347.98	
12/12/18	33071	$	11,907.49    $	476.30   $	228.62    $	$	11,202.57	$	11,202.57    $	11,202.57	
12/21/18	ACH	$	626.71    $	25.07   $	12.03    $	$	589.61	$	589.61   $	589.61	
1/11/19	ACH	$	$	$	$	11.06    $	11.06	$	11.06    $	11.06	
3/11/18	ACH	$	626.71    $	6.27    $	12.41    $	$	608.03	$	608.03    $	608.03	
4/9/19	ACH	$	1,253.42    $	$	25.07    $	$	1,228.35	$	1,228.35   $	1,228.35	
		$	$	$	$	$	$	$	
		$	$	$	$	$	$	$	
TOTALS		$	65 ,8 045 5     $   2,563.18    s	, 1 264.83     $	11.06    $	61,987.60	$	61,987.60    $	61,987.60	

DIRECT BILLED ASSESSMENTS

K.HOVNANIAN AT MYSTIC DUNES LLC	$240,973.18	$240,973.18

DATE RECEIVED	DUE DATE	CHECK NO.	NET ASSESSED	AMOUNT RECEIVED	GENERAL FUND	
11/1/18	12/1/18	4368	$	120,486.59	$ 120,486.59	$	120,486.59	
2/4/19	2/1/19	740244	$	60,243.30	$	60,243.30	$	60,243.30	
4/26/19	5/1/19	770005	$	60,243.30	$	60,243.30	$	60 243.30	
			$	240,973.19	$ 240,973.19	$	240,973.19	

S ECTION 3

NOTICE OF MEETINGS WINDWARD
COMMUNITY DEVELOPMENT DISTRICT

The Board of Supervisors of the Windward Community Development District will hold its regularly scheduled public meetings for  the  Fiscal  Year  2020 at the West Osceola Branch Library, 305 Campus  Street, Kissimmee,  Florida,  at  2:00  p.m. on the third Wednesday of the month as follows:

October 16, 2019
November 20, 2019
December 18, 2019
January 15, 2020
February 19, 2020
March 18, 2020
April 15, 2020 May20,2020 June 17, 2020
July 15, 2020
August 19, 2020
September 16, 2020

The meetings are open to the public and will be conducted  in accordance  with the provisions of Florida law for Community Development Districts. A copy of the agenda for a particular meeting may be obtained by contacting the office of the District Manager at 135 W. Central Blvd., Suite 320, Orlando, Florida 32801, (407) 841-5524 .

A meeting may be continued to a date, time and place to be specified on the record at that meeting. There may be occasions when one or more Supervisors, staff or other individuals will participate by telephone.

Any person requiring special accommodations at a meeting because of a disability or physical impairment should contact the District Office at (407) 841-5524 at least 48 hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service at (800) 955-8770 for aid in contacting the District Office.

Each person who decides to appeal any action taken at these meetings is advised that person will need a record of the proceedings and  that  accordingly,  the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based.

Jason M. Showe
Governmental Management Services - Central Florida, LLC District Manager