Sunbridge Stewardship District
3501 Quadrangle Blvd., Suite 270, Orlando, FL 32817
Phone: 407-723-5935
https://www.sunbridgesd.com

Notice is hereby given that the Board of Supervisors (“Board”) of the Sunbridge Stewardship District (“District”) will hold a meeting of the Board of Supervisors on Thursday, January 6, 2022 at 11:00 a.m. at 2770 River Creek Lane, St Cloud, FL 34771. Questions or comments on the Board Meeting or proposed agenda may be addressed to Lynne Mullins mullinsl@pfm.com or (407) 723-5935. A quorum (consisting of at least three of the five Board Members) will be confirmed prior to the start of the Board Meeting.

Please use the following information to join the telephonic conferencing:

Phone: 1-844-621-3956	Participant Code:	796 761 297#

BOARD OF SUPERVISORS’ MEETING AGENDA

Organizational Matters
Roll Call to Confirm a Quorum
Public Comment Period
Consideration of the Minutes of the November 4, 2021 Board of Supervisors’ Meeting
Consideration of Resolution 2022-04, Designating Registered Agent

Business Matters
Consideration of Retail Acquisition and Term Sheet with Toho Water Authority
Ratification of Data Sharing and Usage Agreement with Osceola County Property Appraiser
Ratification of Payment Authorization Nos. 150 – 155
Review of District’s Financial Position and Budget to Actual YTD

Other Business
Staff Reports
District Counsel
District Manager
District Engineer
Supervisor Requests

Adjournment

Sunbridge Stewardship District

Minutes of the November 4, 2021 Board of Supervisors’ Meeting

MINUTES OF MEETING

SUNBRIDGE STEWARDSHIP DISTRICT BOARD OF SUPERVISORS’ MEETING
Thursday, November 4, 2021 at 11:00 a.m. 2770 River Creek Lane, St Cloud, FL 34771

Board Members Present:

Richard Levey Rob Adams Julie Salvo Frank Paris
Brent Schademan Also, Present:
Lynne Mullins Jennifer Walden Kevin Plenzler Brent Wilder Brett Sealy Sara Zare
Johnathan Johnson Clint Beaty Cristyann Courtney Cristy Baxter
Lance Bennett Ricky Diaz Drew Abel Scott Thacker Randy Newman

FIRST ORDER OF BUSINESS

Chair
Vice Chair Assistant Secretary Assistant Secretary Assistant Secretary

PFM
PFM	(via phone)
PFM Financial Advisors
PFM Financial Advisors (via phone) MBS Capital Markets, LLC
MBS Capital Markets, LLC

District Counsel	(via phone)	
Tavistock	(via phone)	
Tavistock	(via phone)	
Poulos & Bennett	(via phone)	
Poulos & Bennett	(via phone)	
David Weekly Homes	(via phone)	
David Weekly Homes	(via phone)	
Berman	(via phone)	
Del Webb Sunbridge- Property Manager

Call to Order and Roll Call

The meeting was called to order. The Board Members, staff, and public in attendance are outlined above.

SECOND ORDER OF BUSINESS

Dr. Levey asked for any public comments.

THIRD ORDER OF BUSINESS

Public Comment Period

There were no comments at this time.

Consideration of the Minutes of the October 7, 2021 Board of Supervisors’ Meeting

1 | P a g e

The Board reviewed the minutes for the October 7, 2021 Board of Supervisors’ Meeting.

On MOTION by Mr. Schademan, seconded by Mr. Paris, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District approved the Minutes of the October 7, 2021 Board of Supervisors’ Meeting.

FOURTH ORDER OF BUSINESS	Consideration of Hopping Green & Sams and Kutak Rock Transition Letter

Mr. Johnson explained the letter from Hopping Green & Sams announcing the departure of himself and several of the other Attorney’s that practice in the Special District Practice Group with Hopping Green & Sams to Kutak Rock effective November 15, 2021. There is no change to the fee associated with this transition and the Fee Agreement is largely the same but instead of Hopping Green & Sams at the top of the letterhead it will be Kutak Rock.

On MOTION by Mr. Schademan, seconded by Ms. Salvo, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District approved the Hopping Green & Sams and Kutak Rock Transition Letter.

FIFTH ORDER OF BUSINESS	Consideration of Resolution 2022-03, Adopting an Amended Budget for Fiscal Year 2022

Ms. Mullins explained that included as an exhibit to the Resolution is the Amended Operations and Maintenance Budget. A couple line items went over the threshold, so the Board needs to amend the budget. Ms. Walden noted this is something the Auditor likes to see. The overall budget has not changed so the District is just cleaning up the line items to balance the budget.

On MOTION by Mr. Adams, seconded by Mr. Paris, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District approved Resolution 2022-03 Adopting an Amended Budget for Fiscal Year 2022.

SIXTH ORDER OF BUSINESS	Consideration	of	Proposals	for Underwriter for Series 2022 Bonds

2 | P a g e

Mr. Plenzler stated we received three responses from FMSbonds, Inc., Jefferies LLC and MBS Capital Markets, LLC. Dr. Levey called for any Board comments and stated that MBS Capital Markets, LLC

On MOTION by Mr. Adams, seconded by Mr. Schademan, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District approved moving forward MBS Capital Markets, LLC as Underwriter for Series 2022 Bonds and authorized the Chairman to execute the Investment Banking Agreement.

SEVENTH ORDER OF BUSINESS	Consideration	of	Payment Authorization Nos. 146-149

The Board reviewed Payment Authorizations Nos. 146-149. Ms. Mullins noted these have been approved and paid and just need ratified by the Board.

On MOTION by Mr. Schademan, seconded by Mr. Adams, with all in favor, the Board of Supervisors for the Sunbridge Stewardship District ratified Payment Authorizations Nos. 146-149.

EIGHTH ORDER OF BUSINESS	Review of the District’s Financial Position and Budget to Actual YTD

The Board reviewed the District Financial Statements. No action is required by the Board.

NINTH ORDER OF BUSINESS	Staff Reports District Counsel-	No report.
District Manager-	Ms. Mullins noted that our next meeting is December 2, 2021 at this location.

District Engineer-	No Report

TENTH ORDER OF BUSINESS	Supervisor Request and Audience Comments

3 | P a g e

There were no Supervisor requests or audience comments

ELEVENTH ORDER OF BUSINESS	Adjournment

There was no other business to discuss so, Dr. Levey requested a motion to adjourn.

ON MOTION by Ms. Salvo, seconded by Mr. Schademan, with all in favor, the November 4, 2021 Meeting of the Board of Supervisors for the Sunbridge Stewardship District was adjourned.

Secretary / Assistant Secretary	Chairman / Vice Chairman

4 | P a g e

Sunbridge Stewardship District

Resolution 2022-04, Designating Registered Agent

RESOLUTION 2022-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF SUNBRIDGE STEWARDSHIP DISTRICT DESIGNATING A REGISTERED AGENT AND REGISTERED OFFICE OF THE DISTRICT AND PROVIDING FOR AN EFFECTIVE DATE.

WHEREAS, Sunbridge Stewardship District (hereinafter the “District”) is a local unit of special-purpose government created and existing pursuant to Chapter 2017-220, Laws of Florida, and Chapter 189, Florida Statues, being situated entirely within Osceola County, Florida; and

WHEREAS, the District is statutorily required to designate a registered agent and a registered office location for the purposes of accepting any process, notice, or demand required or permitting by law to be served upon the District in accordance with Section 189.014(1), Florida Statutes.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF SUNBRIDGE STEWARDSHIP DISTRICT:

Section 1. Lynne Mullins is hereby designated as Registered Agent for the Sunbridge Stewardship District.

Section 2. The District's Registered Office shall be located at 3501 Quadrangle Boulevard, Suite 270, Orlando, Florida 32817.

Section 3. In accordance with Section 189.014, Florida Statutes, the District’s Secretary is hereby directed to file certified copies of this resolution with Osceola County and the Florida Department of Economic Opportunity.

Section 4. This Resolution shall become effective immediately upon adoption.

PASSED AND ADOPTED this 6th day of January, 2022.

ATTEST:	SUNBRIDGE STEWARDSHIP DISTRICT

Secretary/Assistant Secretary	Chairperson

Sunbridge Stewardship District

Retail Acquisition and Term Sheet with Toho Water Authority

bringing you life's	951 Martin Luther King Blvd., Kissimmee, Fl 34741

most precious resource

Tel: 407-944-5000
www.tohowater.com

Richard Levey, Chairman Sunbridge Stewardship District
6900 Tavistock Lakes Blvd, Suite 200 Orlando, FL 32827 Ssd1@sunbridgesd.com
Sent Via Email December 8, 2021
Re: Offer Letter Sunbridge Retail Acquisition and Term Sheet
Dear Mr. Levey:
As you are aware, the Toho Water Authority (TOHO) is currently the bulk water, wastewater, and reclaimed water service provider to the Sunbridge Stewardship District by virtue of a 2017 agreement entitled "Wholesale Water, Wastewater, and Reclaimed Water Services Agreement (the "Wholesale Agreement"). The Wholesale Agreement provides for acquisition of the retail water and wastewater systems serving Sunbridge after an initial 30-year period of operations.
At its meeting on November 10, 2021, the Toho Water Authority (Toho) Board of Supervisors approved a Term Sheet for Accelerated Acquisition of the Sunbridge Retail Utility Services, inclusive of all retail water, wastewater, and reclaimed water systems (See attached).
Through this letter, I would like to extend an offer to acquire/purchase the Sunbridge retail systems and an invitation to begin development of formal agreements for final approval of an accelerated acquisition. Upon your acceptance of these terms and following development of mutually acceptable formal agreements, I will schedule a public hearing for final approval by TOHO at a regularly scheduled Board of Supervisors meeting.
Tavistock East II LLC., Vice President Clint Beaty, is simultaneously negotiating the sale of the retail reclaimed system in conjunction with this offer.
Toho appreciates your consideration and looks forward to directly s�rving the residents and businesses within the Sunbridge Stewardship District. I am available to engage in this process immediately upon your approval and look forward to working with the Sunbridge and Tavistock teams.

Thank you,

Todd Swingle, P.E.
Executive Director, Toho Water Authority

Attachment: Accelerated Sunbridge Retail Acquisition Term Sheet

CC:

bringing you life's
most precious resource

951 Martin Luther King Blvd., Kissimmee, FL 34741
Tel: 407-944-5000
www.tohowater.com

Lynne Mullins District Manager
Sunbridge Stewardship District
C/O PFM Group Consulting LLC 3501 Quadrangle Blvd., Suite 270 Orlando, FL 32817 Mullinsl@pfm.com

Jonathan Johnson Registered Agent
Sunbridge Stewardship District
P.O.Box 10230
Tallahassee, Fl 32302
Jonathan.Johnson@KutakRock.com

Clint Beaty Vice President
Tavistock East II, LLC
6900 Tavistock Lakes Blvd, Suite 200
Orlando, FL 32827
cbeaty@tavistock.com

Anthony Cotter General Counsel Toho Water Authority
951 Martin Luther King Blvd. Kissimmee, FL 34741 acotter@tohowater.com

Background and Foundation (Whereas Basis)

Toho and Tavistock East Holdings, East Central Florida Services, and Tavistock East Services (collectively User) entered into a Wholesale Water, Wastewater, and Reclaimed Water Services Agreement in October 2017 and the Sunbridge Stewardship District is also a Party pursuant to the partial assignment of the bulk agreement. At a high level, the bulk agreement includes the following:
User is the retail provider of water, wastewater, and reclaimed water services within the Sunbridge Development District
Toho is the exclusive wholesale provider of water, wastewater, and reclaimed water to the User.
Toho is required to provide 2 mgd allocation from its existing supplies to meet the anticipated 10‐year demand for User.
ECFS and Toho agree to jointly apply for water use permits for 6.5 MGD of water from the Taylor Creek Reservoir Project to meet future demands.
Toho is obligated to pay Users a transfer payment of 6% of the wholesale cost of provided services for a term of 40 years.
Toho has the right to acquire the User’s water and wastewater facilities after 30 years for a purchase price equivalent to the amount required to defease User’s bonds.
User and Toho agree to provide planning estimates on a 5‐year basis in order to support expansion of infrastructure
Toho has an obligation to expand facilities to meet User’s 5‐year projections with cost recovery through a bulk rate that includes operating costs plus capital cost recovery
User has the option to construct needed infrastructure to support development.
Toho and User agree to a “One Water Approach” including conservation, customer engagement, stormwater reuse and emerging technologies such as direct potable reuse.

Find it mutually beneficial to transfer retail operation to Toho in advance of original planned time horizon to facilitate improved planning and take advantage of opportunities to optimize infrastructure across Toho’s system while maintaining the cooperative elements envisioned in the existing agreement.

ACTIVE:14152168.1

General and Transition Plan

Toho will acquire all water, wastewater, and reclaimed/irrigation retail operations following an agreeable transition period
User Customers will become Toho customers subject to Toho’s rates, fees, and policies. Toho will assume Tavistock’s agreements with US Water including water, wastewater, and reclaimed/irrigation retail operations (List contracts)
Toho Any coordination adjustments to plan review, inspection, etc?
Toho and User will establish an advisory committee representing each entity: Toho, Tavistock, and ECFS. Committee members may vary but are expected to be senior level members of each organization. The priority of the committee will be to proactively support planning, operations, and problem resolution related to the provision of utility services within the Sunbridge Development District.
Estimate 4‐6 month transition period following execution of a formal agreement which will include a transition plan. Key elements of the transition plan include:
Support contract transition
Customer transition
Management of existing capacity commitments
Update of development projections
Formalizing priorities for the Advisory Committee
Additional plant expansion property needs
Inspection and Conveyance of the water and reclaimed water distribution systems and the wastewater collection system
Inspection and conveyance of easements and transfer of right of way permits
Retain applicable miscellaneous portions of the existing bulk agreement (service areas including FPSC service area protection language, notices, etc)

ACTIVE:14152168.1

Existing Construction Projects

Tavistock continues construction and capital investment per existing agreements for the WTP and WWTP

Capital Cost Recovery of Capacity Related Investments Made by Tavistock

Following an agreed upon transition date (estimated early to mid‐2022), Toho will convert all outstanding Tavistock capital investment in Toho’s facilities (investment less collections to date by Tavistock) to SDC credits at the equivalent residential unit (ERU) combined rate for water and sewer at the time.
Following the transition date, Toho will begin collecting all SDCs within the Sunbridge Development District
“SDC Credit Balance” means the SDC credits at transition reduced by the value of any payments from Toho to Tavistock converted to SDC credits at the current combined water and sewer SDC rate per ERU.
Following transition, Toho pays Tavistock within 60 days of each month end the current $ value of SDCs connecting in the prior month until the SDC Credit Balance reaches $0..
Toho will also provide accelerated reimbursement of up to $15M for outstanding SDC Credits at the SDC rate in effect at the time of payment. Toho shall not be obligated to pay more than $5M in any one year. Toho shall pay $5M or the value of outstanding SDC credits, whichever is less, at the following intervals based upon the number of active accounts in the Sunbridge Development District – 1,500 connections, 2,500 connections, and 3,500 connections.

ACTIVE:14152168.1

Capacity Planning

Both Parties acknowledge the unique scope and scale of the Sunbridge Development District project and agree to mutually cooperate in planning efforts to ensure provision of potable water, wastewater, and irrigation/reclaimed water services in a timely manner
By November 1 each year, Tavistock will provide an Annual 10‐year planning projection for joint review by the advisory committee and Toho.
Toho agrees to maintain, or provide when needed, sufficient water and wastewater plant capacity to meet the level of demand for each year set forth in the Initial 10‐Year Projection and any Approved Annual 10‐Year Projection thereafter. Initial 10‐Year Projection must come from TWA’s existing permitted water supply sources
Retain Taylor Creek Reservoir water supply planning and development obligation with ECFS
In the event any of the following occur:
any 10‐year Annual Projection changes by more than 15%
the 10‐year Annual Projection update includes changes in the first 5‐years that cause and otherwise unplanned expansion of facilities
the 10‐year Annual Projection exceeds the BEBR High projection by more than 10% The advisory committee will meet and review projections anticipating one of the following resolutions:
revise and lower the projection
Toho adjusts facility expansion plans as needed to meet capacity projections
Tavistock agrees to advance construction with reimbursement by Toho.

Tavistock retains the ability to accelerate construction of improvements with reimbursement from Toho in order to meet capacity requirements
Transition existing agreement language regarding One‐Water Community, landscaping and irrigation standards, etc applicable to the development to the new agreement

Financial

Toho owes Tavistock/ECFS 2% of annual gross water, wastewater, reclaimed water retail revenue generated within the Sunbridge Stewardship District for 40 years from the date of the initial transfer payment made to Tavistock.
Toho and Tavistock agree to define improvements that provide system‐wide benefit over a certain scale (supplemental irrigation systems exceeding a defined capacity, transmission or collection mains exceeding a specified diameter, and storage/repump stations exceeding a specified capacity) that are consistent with capital improvements typically funded by SDC fees and identify a procedure for full or partial reimbursement depending on the nature of the improvement.
Tavistock responsible for construction and financing of all infrastructure – distribution and collection systems. Assets constructed to Toho standards and transferred to Toho at no cost except as provided above with cost recovery from Sunbridge Development District owners via assessment levied by District.

ACTIVE:14152168.1

ACTIVE:14152168.1

Sunbridge Stewardship District

Data Sharing and Usage Agreement with Osceola County Property Appraiser

Sunbridge Stewardship District

This Data Sharing And Usage Agreement, hereafter referred to as "Agreement," establishes the terms and conditions under which the Sunbridge Stewardship District, hereafter referred to as agency, can acquire and use Osceola County Property Appraiser (OCPA} data that is exempt from Public Records disclosure as defined in FS 119.071.
Please note the referenced statute has amended as of October 1, 2021. The paragraph below reflects the changes.

The confidentiality of personal identifying and location information including: names, mailing address, or any other descriptive property information that may reveal identity or home address pertaining to parcels owned by individuals that have received exempt/confidential status, hereafter referred to as confidential personal identifying and location information, will be protected as follows:
The agency will not release confidential personal identifying and location information that may reveal identifying and location information of individuals exempted from Public Records disclosure.
The agency will not present the confidential personal identifying and location information in the results of data analysis (including maps} in any manner that would reveal personal identifying and location information of individuals exempted from Public Records disclosure.
The agency shall comply with all State laws and regulations governing the confidentiality of personal identifying and location information that is the subject of this Agreement.
The agency shall ensure any employee granted access to confidential personal identifying and location information is subject to the terms and conditions of this Agreement.
The agency shall ensure any third party granted access to confidential personal identifying and location information is subject to the terms and conditions of this Agreement. Acceptance of these terms must be provided in writing to the agency by the third party before personal identifying and location information is released.
The terms of this Agreement shall commence on January 1, 2022 and shall run until December 31, 2022, the date if signature by the parties notwithstanding. This Agreement shall not automatically renew. A new agreement will be provided annually for the following year.

OSCEOLA COUNTY PROPERTY APPRAISER

Signature:	_

Signature:	,r-:----,.-------r-7'-.;t--""'1""7	 ..,.	,_

IN WITNESS THEREOF, both the Osceola County Property Appraiser, through its duly authorized representative, and the agency, through its duly authorized representative, have hereunto executed this Data Sharing and Usage Agreement as of the last below written date.

Print:	Katrina S. Scarborough
Date:	_

Print:---='---------..=;;;;=-_.,	.'-------1---#'--­

oecerntJev

Title:_-=-L,_---------a:::E:..------- Date:	151 202,

Please returned signed original copy, no later than January 31, 2022

2505 E IRLO BRONSON MEMORIAL HWY, KISSIMMEE, FL 34744	(407) 742-5000 INFO@PROPERTY-APPRAISER.ORG • PROPERTY-APPRAISER.ORG

Sunbridge Stewardship District

Payment Authorization Nos. 150 – 155

Payment Authorization No. 150
11/5/2021		
Item No.	Vendor	Invoice Number	General Fund	Fiscal Year	

1	
Berman Construction				
	November Irrigation & Admin Staffing Management	15709	$	625.00	FY 2022	

2	
Bruce Vickers, Tax Collector				
	FY 2022 Property Tax	--	$	2.22	FY 2022	

3	
Florida ULS Operating				
	November Monthly Landscaping	ULS-21318	$ 4,600.00	FY 2022	

4	
Osceola News-Gazette				
	Legal Advertising on 10/28/2021 ; Ad 35311	334064	$	60.80	FY 2022	

5	
OUC				
	Services 10/01/2021 - 11/01/2021	Acct: 5981605831	$ 1,160.62	FY 2022	

6	
Poulos & Bennett				
	General Engineering Services Through 09/30/2021	18-203(32)	$ 1,366.60	FY 2021	

TOTAL	
$ 7,815.24		

1,366.60	FY 2021	
6,448.64	FY 2022	

Board Member

By Amanda Lane at 8:37 am, Nov 08, 2021

Sunbridge Stewardship District c/o PFM Group Consulting
3501 Quadrangle Boulevard, Ste. 270
Orlando, FL 32817
LaneA@pfm.com // (407) 723-5925

Payment Authorization No. 151
11/12/2021

Item	Vendor	Invoice	General	Fiscal	
No.		Number	Fund	Year	

1	
Hopping Green & Sams				
	General Counsel Through 09/30/2021	125737	$	349.59	FY 2021	

2	
University of Florida Board of Trustees				
	UF/IFAS Sustainable Floridians Benchmarking & Monitoring	I000101357	$ 49,830.00	FY 2022	

3	
VGlobalTech				
	November Website Maintenance	3260	$	100.00	FY 2022	

TOTAL	
$ 50,279.59		

349.59
49,930.00	FY 2021	
	FY 2022	

Board Member

By Amanda Lane at 12:57 pm, Nov 12, 2021

Sunbridge Stewardship District c/o PFM Group Consulting
3501 Quadrangle Boulevard, Ste. 270
Orlando, FL 32817
LaneA@pfm.com // (407) 723-5925

Payment Authorization No. 152
11/19/2021

Item
No.	Vendor	Invoice
Number	General
Fund	Fiscal
Year	

1	
Irrigation Systems				
	Acct: 54823862 ; Service 09/29/2021 - 10/27/2021	--	$ 1,288.80	FY 2022	

2	
PFM Group Consulting				
	DM Fee: November 2021	DM-11-2021-45	$ 5,833.33	FY 2022	

TOTAL	
$ 7,122.13		

-	FY 2021	
7,122.13	FY 2022	

Board Member

By Amanda Lane at 12:20 pm, Nov 20, 2021

Sunbridge Stewardship District c/o PFM Group Consulting
3501 Quadrangle Boulevard, Ste. 270
Orlando, FL 32817
LaneA@pfm.com // (407) 723-5925

Payment Authorization No. 153
12/3/2021

Item	Vendor	Invoice	General	Fiscal	
No.		Number	Fund	Year	

1	
Berman Construction				
	December Irrigation & Admin Staffing Management	16112	$	625.00	FY 2022	

2	
Hopping Green & Sams				
	General Counsel Through 07/31/2021	124761	$	911.50	FY 2021	
	General Counsel Through 09/30/2021	125976	$	710.00	FY 2021	
	General Counsel Through 11/12/2021	125976	$  1,126.50	FY 2022	

3	
Osceola News-Gazette				
	Legal Advertising on 11/25/2021 ; Ad 35496	340183	$	60.80	FY 2022	

4	
OUC				
	Services 11/01/2021 - 12/01/2021	Acct: 5981605831	$  1,160.62	FY 2022	

5	
Poulos & Bennett				
	General Engineering Services Through 10/31/2021	18-203(33)	$	348.20	FY 2022	

TOTAL	
$  4,942.62		

1,621.50
3,321.12	FY 2021	
	FY 2022	

Board Member

By Amanda Lane at 1:12 pm, Dec 08, 2021

Sunbridge Stewardship District c/o PFM Group Consulting
3501 Quadrangle Boulevard, Ste. 270
Orlando, FL 32817
LaneA@pfm.com // (407) 723-5925

Payment Authorization No. 154
12/10/2021

Item	Vendor	Invoice	General	
No.		Number	Fund	

1	Florida ULS Operating
December Monthly Landscaping	
ULS-23201	
$	
4,600.00	
2	PFM Group Consulting
Billable Expenses
DM Fee: December 2021 October Reimbursables	
117954
DM-12-2021-45 OE-EXP-11-36	
$
$
$	
30.64
5,833.33
17.41	
3	VGlobalTech
December Website Maintenance	
3339	
$	
100.00	

TOTAL	$ 10,581.38

Board Member

By Amanda Lane at 1:57 pm, Dec 23, 2021

Sunbridge Stewardship District c/o PFM Group Consulting
3501 Quadrangle Boulevard, Ste. 270
Orlando, FL 32817
LaneA@pfm.com // (407) 723-5925

Payment Authorization No. 155
12/23/2021

Item
No.	Vendor	Invoice
Number	General
Fund	

1	
Irrigation Systems
6200 Even Cyrils Dr Irr ; Service 10/27/2021 - 11/26/2021	

--	

$  1,625.04	
2	PFM Group Consulting
November Postage	
OE-EXP-12-33	
$	0.53	
3	VGlobalTech
Quarterly ADA Audit	
3433	
$	300.00	
		
TOTAL	
$  1,925.57	

Board Member

By Amanda Lane at 1:58 pm, Dec 23, 2021

Sunbridge Stewardship District c/o PFM Group Consulting
3501 Quadrangle Boulevard, Ste. 270
Orlando, FL 32817
LaneA@pfm.com // (407) 723-5925

Sunbridge Stewardship District

District’s Financial Position and Budget to Actual YTD

Statement of Financial Position As of 11/30/2021

Utility Fund

$235,625.91 214,254.75
1,409,823.00
420,697.29
$2,280,400.95

$2,000.00
$2,000.00

$2,282,400.95

$285,916.12 150,000.00
46,278.48
5,700.00
$487,894.60

$1,217,850.00 813,855.00
$2,031,705.00

$2,519,599.60

($231,727.55)
(5,471.10)

($237,198.65)

Total

$217,740.57
240.00
10,668.00
235,625.91
214,254.75
1,409,823.00
420,697.29

$2,509,049.52

$2,000.00

$2,000.00

$2,511,049.52

$13,968.63 10,668.00
10,668.00
285,916.12
150,000.00
46,278.48
5,700.00

$523,199.23

$1,217,850.00 813,855.00
$2,031,705.00

$2,554,904.23

($44,385.70)
(49,830.00)

59,792.33
238,435.31

(10,668.00)
(231,727.55)
(5,471.10)

($43,854.71)

 	

	General Fund		Capital Projects Fund	
	
Assets			
Current Assets				
General Checking Account	$217,740.57			
Deposits	240.00			
Accounts Receivable - Due from Developer			$10,668.00	
Utility Revenue				
Utility Operating				
Utility Revenue System Development				
Accounts Receivable				
Total Current Assets	$217,980.57		$10,668.00	

Property, Plant & Equipment				
Fixed Assets - Other				
Total Property, Plant & Equipment	$0.00		$0.00	
Total Assets	$217,980.57		$10,668.00	

Liabilities and Net Assets	
Current Liabilities				
Accounts Payable	$13,968.63			
Accounts Payable			$10,668.00	
Deferred Revenue			10,668.00	
Accounts Payable				
Due to Developer				
Deposits				
Accrued Expenses Payable				
Total Current Liabilities	$13,968.63		$21,336.00	

Long Term Liabilities				
System Dev. Charge - Water				
System Dev. Charge - Wastewater				
Total Long Term Liabilities	$0.00		$0.00	
Total Liabilities	$13,968.63		$21,336.00	

Net Assets				
Net Assets, Unrestricted	($44,385.70)			
Current Year Net Assets, Unrestricted	(49,830.00)			
Net Assets - General Government	59,792.33			
Current Year Net Assets - General Government	238,435.31			
Net Assets, Unrestricted			($10,668.00)	
Net Assets, 270				
Current Year Net Assets, 270				
Total Net Assets	$204,011.94		($10,668.00)	
				
Total Liabilities and Net Assets	$217,980.57		$10,668.00	

Page 1 of 1

$2,282,400.95

$2,511,049.52

Statement of Activities As of 11/30/2021

General Fund	Capital Projects
Fund

Utility Fund	Total

Revenues

On-Roll Assessments	$3,340.98						$3,340.98	
Off-Roll Assessments	273,233.75						273,233.75	
Water - Residential Customers					$14,834.90		14,834.90	
Water - Commercial Customers					3,952.93		3,952.93	
Wastewater - Residential Customers					21,112.22		21,112.22	
Wastewater - Commercial Customers					319.20		319.20	
Admin Late Fees					440.00		440.00	
Inspection Fees					405,111.86		405,111.86	
Plan Review Fees					2,713.50		2,713.50	
Meter Installations Fees					7,650.00		7,650.00	
Backflow Installation Fees					1,530.00		1,530.00	
Wastewater Install/Connection					2,250.00		2,250.00	
Initial Connection Fees					3,200.00		3,200.00	
Total Revenues	$276,574.73		$0.00		$463,114.61		$739,689.34	

D&O Insurance	$2,506.00						$2,506.00	
Management	11,666.66						11,666.66	
Assessment Administration	7,500.00						7,500.00	
Legal Advertising	126.12						126.12	
Property Taxes	2.22						2.22	
Web Site Maintenance	200.00						200.00	
Dues, Licenses, and Fees	175.00						175.00	
Electric	21.74						21.74	
General Insurance	3,064.00						3,064.00	
Irrigation	1,288.80						1,288.80	
Landscaping Maintenance & Material	9,200.00						9,200.00	
UF Research Agreement	49,830.00						49,830.00	
Streetlights	1,138.88						1,138.88	
Personnel Leasing Agreement	1,250.00						1,250.00	
Engineering					$4,383.79		4,383.79	
ContractServices - Accounting					3,507.04		3,507.04	
Contractual Services					23,148.13		23,148.13	
Water					4,252.79		4,252.79	
Purchased Wastewater					6,609.60		6,609.60	
Inspection Expense					405,111.86		405,111.86	
Plan Review Expense					5,092.00		5,092.00	
Meter Installation Expense					12,502.50		12,502.50	
Backflow Installation Expense					1,300.50		1,300.50	
Wastewater Connection Expense					1,912.50		1,912.50	
Miscellaneous Customer Service Expense					765.00		765.00	
Total Expenses	$87,969.42	$0.00	$468,585.71	$556,555.13	
Total Other Revenues (Expenses) & Gains (Losses)	$0.00		$0.00		$0.00		$0.00	
Change In Net Assets	$188,605.31		$0.00		($5,471.10)		$183,134.21	

Net Assets At Beginning Of Year	
$15,406.63		
($10,668.00)		
($231,727.55)		
($226,988.92)	

Net Assets At End Of Year	
$204,011.94		
($10,668.00)		
($237,198.65)		
($43,854.71)	

Expenses

Other Revenues (Expenses) & Gains (Losses)

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Budget to Actual
For the Month Ending 11/30/2021

Year To Date	
Actual		Budget	

$	3,340.98		

$  69,335.00	
273,233.75		-	
$ 276,574.73		$  69,335.00	

$	2,506.00		
$	450.00	
-		1,000.00	
11,666.66		11,666.66	
-		2,500.00	
-		833.34	
-		10,000.00	
7,500.00		1,250.00	
-		20.84	
-		2,083.34	
-		83.34	
-		16.66	
-		33.34	
-		50.00	
126.12		1,000.00	
-		60.00	
-		41.66	
2.22		-	
200.00		400.00	
175.00		279.16	
21.74		50.00	
-		1,666.66	
3,064.00		533.34	
1,288.80		2,500.00	
-		500.00	
9,200.00		10,333.34	
-		333.34	
-		1,666.66	
-		166.66	
49,830.00		13,566.66	
-		5,000.00	
1,138.88		-	
1,250.00		1,250.00	
$	87,969.42		$  69,335.00	

 $	87,969.42 		
 $  69,335.00 	
$ 188,605.31		$	-	

Variance

FY 2022
Adopted Budget

Percentage Variance

Revenues
On-Roll Assessments Off-Roll Assessments
Net Revenues

General & Administrative Expenses
D&O Insurance Trustee Services Management Engineering Dissemination Agent District Counsel
Assessment Administration Reamortization Schedules Audit
Travel and Per Diem Telephone
Postage & Shipping Copies
Legal Advertising Bank Fees
Office Supplies Property Taxes
Web Site Maintenance Dues, Licenses, and Fees Electric
Infrastructure Capital Reserve General Insurance
Irrigation Irrigation Parts
Landscaping Maintenance & Material Landscape Improvements Contingency
Signage & Amenities Repair UF Research Agreement Lighting
Streetlights
Personnel Leasing Agreement
Total General & Administrative Expenses

Total Expenses

Net Income (Loss)

$ (65,994.02)

$	207,239.73	$ 416,010.00	66.48%	

$	
2,056.00	$	2,700.00
(1,000.00)	6,000.00	
92.81%
0.00%	
	-	70,000.00	16.67%	
	(2,500.00)	15,000.00	0.00%	
	(833.34)	5,000.00	0.00%	
	(10,000.00)	60,000.00	0.00%	
	6,250.00	7,500.00	100.00%	
	(20.84)	125.00	0.00%	
	(2,083.34)	12,500.00	0.00%	
	(83.34)	500.00	0.00%	
	(16.66)	100.00	0.00%	
	(33.34)	200.00	0.00%	
	(50.00)	300.00	0.00%	
	(873.88)	6,000.00	2.10%	
	(60.00)	360.00	0.00%	
	(41.66)	250.00	0.00%	
	2.22	-		
	(200.00)	2,400.00	8.33%	
	(104.16)	1,675.00	10.45%	
	(28.26)	300.00	7.25%	
	(1,666.66)	10,000.00	0.00%	
	2,530.66	3,200.00	95.75%	
	(1,211.20)	15,000.00	8.59%	
	(500.00)	3,000.00	0.00%	
	(1,133.34)	62,000.00	14.84%	
	(333.34)	2,000.00	0.00%	
	(1,666.66)	10,000.00	0.00%	
	(166.66)	1,000.00	0.00%	
	36,263.34	81,400.00	61.22%	
	(5,000.00)	30,000.00	0.00%	
	1,138.88	-		
	-	7,500.00	16.67%	
$	18,634.42	$ 416,010.00	21.15%	

 $		
18,634.42   $ 416,010.00 	
	21.15%		
$	188,605.31	$	-	

273,233.75

$ 416,010.00	66.48%
-

  	  

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