Stoneybrook South Community Development District
Agenda

February 3, 2025

Agenda

Stoneybrook South
Community Development District

219 E. Livingston Street, Orlando, Florida 32801 Phone: 407-841-5524 – Fax: 407-839-1526
January 27, 2025

Board of Supervisors Stoneybrook South
Community Development District Dear Board Members:
The meeting of the Board of Supervisors of the Stoneybrook South Community Development District will be held Monday, February 3, 2025 at 10:00 a.m. at the Oasis Club at ChampionsGate, 1520 Oasis Club Blvd., ChampionsGate, FL 33896.

Call-in Information for Members of Public:

Dial-in Number: (267) 930-4000
Participate Code: 189-483-798

Following is the advance agenda for the regular meeting:

Audit Committee Meeting
Roll Call
Public Comment Period
Approval of the Minutes of the December 2, 2024 Meeting
Review and Ranking of Proposals and Selection of an Auditor
Grau & Associates
Adjournment

Board of Supervisors Meeting

Roll Call
Public Comment Period
Business Administration
Approval of Minutes of the December 2, 2024 Meeting
Consideration of Check Register
Balance Sheet and Income Statement
Business Items
Ratification of Data Sharing and Usage Agreement with Osceola County
Presentation of FY2023 Audit Report from Berger Toombs
Acceptance of Audit Committee Recommendation and Selection of Number 1 Ranked Auditor to Provide Auditing Services
Staff Reports
District Counsel
District Engineer
District Manager
Field Manager
Ratification of Proposal for Fountain Repairs

Supervisor’s Requests
Adjournment

The balance of the agenda will be discussed at the meeting. In the meantime, if you should have any questions, please contact me.

Sincerely,

Jeremy LeBrun

Jeremy LeBrun District Manager

Cc:	Vivek Babbar, District Counsel David Reid, District Engineer Alan Scheerer, Field Manager

Enclosures

Audit Committee Meeting

Minutes

MINUTES OF MEETING
STONEYBROOK SOUTH COMMUNITY DEVELOPMENT DISTRICT

The Audit Committee meeting of the Board of Supervisors of the Stoneybrook South Community Development District was held Monday, December 2, 2024, at 10:00 a.m. at Oasis Club at ChampionsGate, 1520 Oasis Club Blvd., ChampionsGate, Florida.

Present and constituting a quorum:
Chris Manjourides Terry Siron by phone Gerrard Knights
Ron Phillips by phone
Larry Bickel

Also present were:

Jeremy LeBrun	District Manager GMS
Alan Scheerer	Field Manager
Jason Allgood via phone	District Engineer
Vivek Babbar via phone	District Counsel

FIRST ORDER OF BUSINESS	Roll Call
Mr. LeBrun called the meeting to order at 10:19 a.m. Three Supervisors were in attendance constituting a quorum. Mr. Siron and Mr. Phillips joined by phone.

SECOND ORDER OF BUSINESS	Public Comment Period
Mr. LeBrun: There are no members of the public present, just Board and staff.

THIRD ORDER OF BUSINESS	Audit Services
Approval of Request for Proposals and Selection Criteria
Mr. LeBrun: Each year the District is required to undergo an independent third-party audit. This part of the audit committee is meeting to approve the proposal and selection criteria. If you look in your electronic agendas, it should be towards the end on page 51 of my PDF and should be the same for yours hopefully. What the Board is doing today is approving the proposals and the

selection criteria. On page 51 of the agenda, you will see the due date for when we are going to send out the requests for proposals for this. Also on page 53, this is the evaluation criteria. Once we get the proposals in, the Board will score them based on this criterion and that is there for your review. Basically, it is 21 points for the ability of personnel, 20 points for experience, 20 points for scope of work, and 20 points for ability to furnish required services, and then 20 points for price. That is kind of the main thing. What we will do if the Board approves this, we will send it out to those companies that do these types of audits. Unfortunately, it has trumped down to a very small, used to be multiple, now we are down to two or three that even submit proposals but we will bring those back at the next meeting. We will bring those proposals back to the Board and then you will score those.
Mr. Knights: What I just read is the proposals aren’t going out until the 24th?
Mr. LeBrun: It will be due back looks like January 24th, when they are due. We will have those on the agenda for the February meeting then you guys will select your auditor based on that criterion. All we need from the Board right now is the approval of the request for proposal and the selection criteria that I went through.

On MOTION by Mr. Manjourides, seconded by Mr. Bickel, with all in favor, the Request for Proposals and Selection Criteria, was approved.

Approval of Notice of Request for Proposals for Audit Services
Mr. LeBrun: Also, there is the notice of request for proposals for audit services. Below that, you will see on page 55 we will notice this per state statute for all of those interested in providing audit services. That is just a copy of the notice you will see there on page 55.

On MOTION by Mr. Knights, seconded by Mr. Bickel, with all in favor, the Notice of Request for Proposals for Audit Services, was approved.

Public Announcement of Opportunity to Provide Audit Services
Mr. LeBrun: We will submit that RPF and will notice that request for audit services so publicly announcing that.

FOURTH ORDER OF BUSINESS	Adjournment
Mr. LeBrun: That brings us down to a motion to adjourn.

On MOTION by Mr. Knights, seconded by Mr. Bickel, with all in favor, the meeting was adjourned.

Secretary/Assistant Secretary	Chairman/Vice Chairman

Section IV

Section A

Proposal to Provide Financial Auditing Services:
STONEYBROOK SOUTH
COMMUNITY DEVELOPMENT DISTRICT

Proposal Due: January 24, 2025 2:00PM

Submitted to:
Stoneybrook South
Community Development District c/o District Manager
219 East Livingston Street Orlando, Florida 32801

Submitted by:
Antonio J. Grau, Partner Grau & Associates
1001 Yamato Road, Suite 301 Boca Raton, Florida 33431 Tel	(561) 994-9299
(800) 229-4728
Fax	(561) 994-5823
tgrau@graucpa.com www.graucpa.com

Table of Contents	Page
EXECUTIVE SUMMARY / TRANSMITTAL LETTER	1
FIRM QUALIFICATIONS	3
FIRM & STAFF EXPERIENCE	6
REFERENCES	11
SPECIFIC AUDIT APPROACH	13
COST OF SERVICES	17
SUPPLEMENTAL INFORMATION	19

January 24, 2025

Stoneybrook South Community Development District c/o District Manager
219 East Livingston Street Orlando, Florida 32801

Re:	Request for Proposal for Professional Auditing Services for the fiscal year ended September 30, 2024, with an option for four (4) additional annual renewals.

Grau & Associates (Grau) welcomes the opportunity to respond to the Stoneybrook South Community Development District’s (the “District”) Request for Proposal (RFP), and we look forward to working with you on your audit. We are an energetic and robust team of knowledgeable professionals and are a recognized leader of providing services to Community Development Districts. As one of Florida’s few firms to primarily focus on government, we are especially equipped to provide you an effective and efficient audit.

Government audits are at the core of our practice: 95% of our work is performing audits for local governments and of that 98% are for special districts. With our significant experience, we are able to increase efficiency, to provide immediate and continued savings, and to minimize disturbances to your operations.

Why Grau & Associates:

Knowledgeable Audit Team
Grau is proud that the personnel we assign to your audit are some of the most seasoned auditors in the field. Our staff performs governmental engagements year-round. When not working on your audit, your team is refining their audit approach for next year’s audit. Our engagement partners have decades of experience and take a hands-on approach to our assignments, which all ensures a smoother process for you.

Servicing your Individual Needs
Our clients enjoy personalized service designed to satisfy their unique needs and requirements. Throughout the process of our audit, you will find that we welcome working with you to resolve any issues as swiftly and easily as possible. In addition, due to Grau’s very low turnover rate for our industry, you also won’t have to worry about retraining your auditors from year to year.

Developing Relationships
We strive to foster mutually beneficial relationships with our clients. We stay in touch year-round, updating, collaborating, and assisting you in implementing new legislation, rules and standards that affect your organization. We are also available as a sounding board and assist with technical questions.

Maintaining an Impeccable Reputation
We have never been involved in any litigation, proceeding or received any disciplinary action. Additionally, we have never been charged with, or convicted of, a public entity crime of any sort. We are financially stable and have never been involved in any bankruptcy proceedings.

Complying With Standards
Our audit will follow the Auditing Standards of the AICPA, Generally Accepted Government Auditing Standards, issued by the Comptroller General of the United States, and the Rules of the Auditor General of the State of Florida, and any other applicable federal, state and local regulations. We will deliver our reports in accordance with your requirements.

This proposal is a firm and irrevocable offer for 90 days. We certify this proposal is made without previous understanding, agreement or connection either with any previous firms or corporations offering a proposal for the same items. We also certify our proposal is in all respects fair, without outside control, collusion, fraud, or otherwise illegal action, and was prepared in good faith. Only the person(s), company or parties interested in the project as principals are named in the proposal. Grau has no existing or potential conflicts and anticipates no conflicts during the engagement. Our Federal I.D. number is 20-2067322.

We would be happy to answer any questions or to provide any additional information. We are genuinely excited about the prospect of serving you and establishing a long-term relationship. Please do not hesitate to call or email either of our Partners, Antonio J. Grau, CPA (tgrau@graucpa.com) or David Caplivski, CPA (dcaplivski@graucpa.com) at 561.994.9299. We thank you for considering our firm’s qualifications and experience.

Very truly yours, Grau & Associates
Antonio J. Grau

Firm Qualifications

Grau’s Focus and Experience

Our Team

3

Services Provided

Partners

11
Professional Staff

2
Administrative Professionals

9/15
Employees are CPAS

Year founded

Properly registered and licensed professional corporation by the state of FLORIDA

We are proud Members of the American Institute of Certified Public Accountants
&

9
Professional Groups

the Florida Institute of Certified Public Accountants

See next page for report and certificate

⇒ External quality review program:
consistently receives a pass
⇒ Internal: ongoing monitoring to
maintain quality

AICPA | FICPA | GFOA | FASD | FGFOA

Firm & Staff Experience

GRAU AND ASSOCIATES COMMUNITY
DEVELOPMENT DISTRICT EXPERIENCE BY MANAGEMENT COMPANY

OTHER
19

PFM
12

WRATHELL
30

GMS
78

INFRAMARK
38

SDS
60

RIZZETTA
47

MERITUS
23

Profile Briefs:
Antonio J GRAU, CPA (Partner)
Years Performing Audits: 35+
CPE (last 2 years): Government Accounting, Auditing: 24 hours; Accounting, Auditing and Other: 56 hours
Professional Memberships: AICPA, FICPA, FGFOA, GFOA

David Caplivski, CPA (Partner)
Years Performing Audits: 13+
CPE (last 2 years): Government Accounting, Auditing: 24 hours; Accounting, Auditing and Other: 64 hours
Professional Memberships: AICPA, FICPA, FGFOA, FASD

“Here at Grau & Associates, staying up to date with the current technological landscape is one of our top priorities. Not only does it provide a more positive experience for our clients, but it also allows us to perform a more effective and efficient audit. With the every changing technology available and utilized by our clients, we are constantly innovating our audit process.”
-	Tony Grau
“Quality audits and exceptional client service are at the heart of every decision we make. Our clients trust us to deliver a quality audit, adhering to high standards and assisting them with improvements for their organization.”
- David Caplivski

The assigned personnel will work closely with the partner and the District to ensure that the financial statements and all other reports are prepared in accordance with professional standards and firm policy.
Responsibilities will include planning the audit; communicating with the client and the partners the progress of the audit; and
determining that financial statements and all reports issued by the firm are accurate, complete and are prepared in accordance with professional standards and firm policy.

YOUR ENGAGEMENT TEAM

Grau’s client-specific engagement team is meticulously organized in order to meet the unique needs of each client. Constant communication within our solution team allows for continuity of staff and audit team. The Certified Information Technology Professional (CITP) Partner will bring a unique blend of IT expertise and understanding of accounting principles to the financial statement audit of the District.

Engagement
Partner

CITP Partner

Your
Successful Audit

Audit
Manager

Audit Senior

The Engagement Partner will participate extensively during the various stages of the engagement and has direct responsibility for engagement policy, direction, supervision, quality control, security, confidentiality of information of the engagement and communication with client personnel. The engagement partner will also be involved directing the development of the overall audit approach and plan; performing an overriding review of work papers and ascertain client satisfaction.

Antonio ‘Tony ‘ J. Grau, CPA
Partner
Contact: tgrau@graucpa.com | (561) 939-6672
Experience
For over 30 years, Tony has been providing audit, accounting and consulting services to the firm’s governmental, non-profit, employee benefit, overhead and arbitrage clients. He provides guidance to clients regarding complex accounting issues, internal controls and operations.
As a member of the Government Finance Officers Association Special Review Committee, Tony participated in the review process for awarding the GFOA Certificate of Achievement in Financial Reporting. Tony was also the review team leader for the Quality Review of the Office of Management Audits of School Board of Miami-Dade County. Tony received the AICPA advanced level certificate for governmental single audits.

Education
University of South Florida (1983) Bachelor of Arts
Business Administration

Clients Served (partial list)

(>300) Various Special Districts, including:		
Bayside Improvement Community Development District Dunes Community Development District
Fishhawk Community Development District (I,II,IV) Grand Bay at Doral Community Development District Heritage Harbor North Community Development District	St. Lucie West Services District
Ave Maria Stewardship Community District Rivers Edge II Community Development District Bartram Park Community Development District
Bay Laurel Center Community Development District	
Boca Raton Airport Authority Greater Naples Fire Rescue District
Key Largo Wastewater Treatment District Lake Worth Drainage District
South Indian River Water Control		

Professional Associations/Memberships
American Institute of Certified Public Accountants Florida Government Finance Officers Association Florida Institute of Certified Public Accountants  Government Finance Officers Association Member City of Boca Raton Financial Advisory Board Member

Professional Education (over the last two years)
Course	Hours
Government Accounting and Auditing	24
Accounting, Auditing and Other	56
Total Hours	80 (includes of 4 hours of Ethics CPE)

David Caplivski, CPA/CITP, Partner
Contact : dcaplivski@graucpa.com / 561-939-6676
Experience
Grau & Associates	Partner	2021-Present	
Grau & Associates	Manager	2014-2020	
Grau & Associates	Senior Auditor	2013-2014	
Grau & Associates	Staff Auditor	2010-2013	

Education
Florida Atlantic University (2009) Master of Accounting
Nova Southeastern University (2002) Bachelor of Science
Environmental Studies

Certifications and Certificates
Certified Public Accountant (2011)
AICPA Certified Information Technology Professional (2018) AICPA Accreditation COSO Internal Control Certificate (2022)

Clients Served (partial list)
(>300) Various Special Districts	Hispanic Human Resource Council	
Aid to Victims of Domestic Abuse	Loxahatchee Groves Water Control District	
Boca Raton Airport Authority	Old Plantation Water Control District	
Broward Education Foundation	Pinetree Water Control District	
CareerSource Brevard	San Carlos Park Fire & Rescue Retirement Plan	
CareerSource Central Florida 403 (b) Plan	South Indian River Water Control District	
City of Lauderhill GERS	South Trail Fire Protection & Rescue District	
City of Parkland Police Pension Fund	Town of Haverhill	
City of Sunrise GERS	Town of Hypoluxo	
Coquina Water Control District	Town of Hillsboro Beach	
Central County Water Control District	Town of Lantana	
City of Miami (program specific audits)	Town of Lauderdale By-The–Sea Volunteer Fire Pension	
City of West Park	Town of Pembroke Park	
Coquina Water Control District	Village of Wellington	
East Central Regional Wastewater Treatment Facl.	Village of Golf	
East Naples Fire Control & Rescue District		

Professional Education (over the last two years)
Course	Hours
Government Accounting and Auditing	24
Accounting, Auditing and Other	64
Total Hours	88 (includes 4 hours of Ethics CPE)
Professional Associations
Member, American Institute of Certified Public Accountants Member, Florida Institute of Certified Public Accountants Member, Florida Government Finance Officers Association Member, Florida Association of Special Districts

References

We have included three references of government engagements that require compliance with laws and regulations, follow fund accounting, and have financing requirements, which we believe are similar to the District.

 Dunes Community Development District		
Scope of Work	Financial audit	
Engagement Partner	Antonio J. Grau	
Dates	Annually since 1998	
Client Contact	Darrin Mossing, Finance Director 475 W. Town Place, Suite 114
St. Augustine, Florida 32092
                    904-940-5850		

 Two Creeks Community Development District		
Scope of Work	Financial audit	
Engagement Partner	Antonio J. Grau	
Dates	Annually since 2007	
Client Contact	William Rizzetta, President 3434 Colwell Avenue, Suite 200
Tampa, Florida 33614
                  813-933-5571		

 Journey’s End Community Development District		
Scope of Work	Financial audit	
Engagement Partner	Antonio J. Grau	
Dates	Annually since 2004	
Client Contact	Todd Wodraska, Vice President 2501 A Burns Road
Palm Beach Gardens, Florida 33410
                  561-630-4922		

Specific Audit Approach

AUDIT APPROACH
Grau’s Understanding of Work Product / Scope of Services:
We recognize the District is an important entity and we are confident our firm is eminently qualified to meet the challenges of this engagement and deliver quality audit services. You would be a valued client of our firm and we pledge to commit all firm resources to provide the level and quality of services (as described below) which not only meet the requirements set forth in the RFP but will exceed those expectations. Grau & Associates fully understands the scope of professional services and work products requested. Our audit will follow the Auditing Standards of the AICPA, Generally Accepted Government Auditing Standards, issued by the Comptroller General of the United States, and the Rules of the Auditor General of the State of Florida and any other applicable Federal, State of Local regulations. We will deliver our reports in accordance with your requirements.

Proposed segmentation of the engagement
Our approach to the audit engagement is a risk-based approach which integrates the best of traditional auditing techniques and a total systems concept to enable the team to conduct a more efficient and effective audit. The audit will be conducted in three phases, which are as follows:

PHASE I:
Preliminary Planning

PHASE II:
Execution of the Audit Plan

PHASE III:
Completion and Delivery

Phase I - Preliminary Planning
A thorough understanding of your organization, service objectives and operating environment is essential for the development of an audit plan and for an efficient, cost-effective audit. During this phase, we will meet with appropriate personnel to obtain and document our understanding of your operations and service objectives and, at the same time, give you the opportunity to express your expectations with respect to the services that we will provide. Our work effort will be coordinated so that there will be minimal disruption to your staff.

During this phase we will perform the following activities:
» Review the regulatory, statutory and compliance requirements. This will include a review of applicable federal and state statutes, resolutions, bond documents, contracts, and other agreements;
» Read minutes of meetings;
» Review major sources of information such as budgets, organization charts, procedures, manuals, financial systems, and management information systems;
» Obtain an understanding of fraud detection and prevention systems;
» Obtain and document an understanding of internal control, including knowledge about the design of relevant policies, procedures, and records, and whether they have been placed in operation;
» Assess risk and determine what controls we are to rely upon and what tests we are going to perform and perform test of controls;
» Develop audit programs to incorporate the consideration of financial statement assertions, specific audit objectives, and appropriate audit procedures to achieve the specified objectives;
» Discuss and resolve any accounting, auditing and reporting matters which have been identified.

Phase II – Execution of Audit Plan
The audit team will complete a major portion of transaction testing and audit requirements during this phase. The procedures performed during this period will enable us to identify any matter that may impact the completion of our work or require the attention of management. Tasks to be performed in Phase II include, but are not limited to the following:
» Apply analytical procedures to further assist in the determination of the nature, timing, and extent of auditing procedures used to obtain evidential matter for specific account balances or classes of transactions;
» Perform tests of account balances and transactions through sampling, vouching, confirmation and other analytical procedures; and
»  Perform tests of compliance.
Phase III - Completion and Delivery

In this phase of the audit, we will complete the tasks related to year-end balances and financial reporting. All reports will be reviewed with management before issuance, and the partners will be available to meet and discuss our report and address any questions. Tasks to be performed in Phase III include, but are not limited to the following:

» Perform final analytical procedures;
»  Review information and make inquiries for subsequent events; and
» Meeting with Management to discuss preparation of draft financial statements and any potential findings or recommendations.

You should expect more from your accounting firm than a signature in your annual financial report. Our concept of truly responsive professional service emphasizes taking an active interest in the issues of concern to our clients and serving as an effective resource in dealing with those issues. In following this approach, we not only audit financial information with hindsight but also consider the foresight you apply in managing operations.

Application of this approach in developing our management letter is particularly important given the increasing financial pressures and public scrutiny facing today’s public officials. We will prepare the management letter at the completion of our final procedures.

In preparing this management letter, we will initially review any draft comments or recommendations with management. In addition, we will take necessary steps to ensure that matters are communicated to those charged with governance.

In addition to communicating any recommendations, we will also communicate the following, if any:

» Significant audit adjustments;
» Significant deficiencies or material weaknesses;
» Disagreements with management; and
»  Difficulties encountered in performing the audit.

Is the recommendation cost effective?

Is the recommendation the simplest to effectuate in order to correct a problem?

Is the recommendation at the heart of the problem and not just correcting a symptomatic matter?

Is the corrective action taking into account why the deficiency occurred?

Our findings will contain a statement of condition describing the situation and the area that needs strengthening, what should be corrected and why. Our suggestions will withstand the basic tests of corrective action:

To assure full agreement with facts and circumstances, we will fully discuss each item with Management prior to the final exit conference. This policy means there will be no “surprises” in the management letter and fosters a professional, cooperative atmosphere.

Communications
We emphasize a continuous, year-round dialogue between the District and our management team. We regularly communicate through personal telephone calls and electronic mail throughout the audit and on a regular basis.

Our clients have the ability to transmit information to us on our secure client portal with the ability to assign different staff with separate log on and viewing capability. This further facilitates efficiency as all assigned users receive electronic mail notification as soon as new information has been posted into the portal.

Cost of Services

Our proposed all-inclusive fees for the financial audit for the fiscal years ended September 30, 2024-2028 are as follows:

  Year Ended September 30,			Fee		
2024	$3,600	
2025	$3,700	
2026	$3,800	
2027	$3,900	
2028	$4,000	
TOTAL (2024-2028)	$19,000	

The above fees are based on the assumption that the District maintains its current level of operations. Should conditions change or Bonds are issued the fees would be adjusted accordingly upon approval from all parties concerned.

Supplemental Information

 	Governmental Audit	Single Audit	Utility Audit	
Current Client	
Year End	
Boca Raton Airport Authority					9/30	
Captain's Key Dependent District					9/30	
Central Broward Water Control District					9/30	
Collier Mosquito Control District					9/30	
Coquina Water Control District					9/30	
East Central Regional Wastewater Treatment Facility					9/30	
Florida Green Finance Authority					9/30	
Greater Boca Raton Beach and Park District					9/30	
Greater Naples Fire Control and Rescue District					9/30	
Green Corridor P.A.C.E. District					9/30	
Hobe-St. Lucie Conservancy District					9/30	
Indian River Farms Water Control District					9/30	
Indian River Mosquito Control District					9/30	
Indian Trail Improvement District					9/30	
Key Largo Wastewater Treatment District					9/30	
Lake Asbury Municipal Service Benefit District					9/30	
Lake Padgett Estates Independent District					9/30	
Lake Worth Drainage District					9/30	
Lealman Special Fire Control District					9/30	
Loxahatchee Groves Water Control District					9/30	
Old Plantation Water Control District					9/30	
Pal Mar Water Control District					9/30	
Pinellas Park Water Management District					9/30	
Pine Tree Water Control District (Broward)					9/30	
Pinetree Water Control District (Wellington)					9/30	
Port of The Islands Community Improvement District					9/30	
Ranger Drainage District					9/30	
Renaissance Improvement District					9/30	
San Carlos Park Fire Protection and Rescue Service District					9/30	
Sanibel Fire and Rescue District					9/30	
South Central Regional Wastewater Treatment and Disposal Board					9/30	
South Indian River Water Control District					9/30	
South Trail Fire Protection & Rescue District					9/30	
Spring Lake Improvement District					9/30	
St. Lucie West Services District					9/30	
Sunrise Lakes Phase IV Recreation District					9/30	
Sunshine Water Control District					9/30	
Sunny Hills Units 12-15 Dependent District					9/30	
West Villages Improvement District					9/30	
Various Community Development Districts (452)					9/30	
TOTAL	491	5	4	484		

CONSULTING / MANAGEMENT ADVISORY SERVICES
Grau & Associates also provide a broad range of other management consulting services. Our expertise has been consistently utilized by Governmental and Non-Profit entities throughout Florida. Examples of engagements performed are as follows:

Accounting systems
Development of budgets
Organizational structures
Financing alternatives
IT Auditing	Fixed asset records
Cost reimbursement
Indirect cost allocation
Grant administration and compliance	

ARBITRAGE

The federal government has imposed complex rules to restrict the use of tax-exempt financing. Their principal purpose is to eliminate any significant arbitrage incentives in a tax-exempt issue. We have determined the applicability of these requirements and performed the rebate calculations for more than 150 bond issues, including both fixed and variable rate bonds.

73

Current Arbitrage Calculations

We look forward to providing Stoneybrook South Community Development District with our resources and experience to accomplish not only those minimum requirements set forth in your Request for Proposal, but to exceed those expectations!

For even more information on Grau & Associates please visit us on www.graucpa.com.

Board of Supervisors Meeting

Section III

Section A

MINUTES OF MEETING
STONEYBROOK SOUTH COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Stoneybrook South Community Development District was held Monday, December 2, 2024, at 10:00 a.m. at Oasis Club at ChampionsGate, 1520 Oasis Club Blvd., ChampionsGate, Florida.

Present and constituting a quorum:
Chris Manjourides	Chairman
Terry Siron by phone	Vice Chairman
Gerrard Knights	Assistant Secretary
Ron Phillips by phone	Assistant Secretary
Larry Bickel	Assistant Secretary Also present were:
Jeremy LeBrun	District Manager GMS
Alan Scheerer	Field Manager
Jason Alligood via phone	District Engineer
Vivek Babbar via phone	District Counsel

FIRST ORDER OF BUSINESS	Roll Call
Mr. LeBrun called the meeting to order at 11:00 a.m. Three Supervisors were in attendance constituting a quorum. Mr. Phillips and Mr. Siron joined by phone.

SECOND ORDER OF BUSINESS	Public Comment Period
Mr. LeBrun: There were no members of the public present or on the call in line.

THIRD ORDER OF BUSINESS	Organizational Matters
A. Appointment of Individuals to Fulfill Vacancies in Seats #1 and #2
Mr. LeBrun: As the Board is aware, these two seats were up in the general election. No members qualified through the Supervisor of Elections so if Terry and Ron wish to continue in their positions, the Board can declare these seats vacant and reappoint them to fill the remainder of that term if the Board wishes.

On MOTION by Mr. Knights, seconded by Mr. Bickel, with all in favor, the Appointment of Mr. Siron to Seat #1 and Mr. Phillips to Seat #2, was approved.

B. Administration of Oaths of Office
Mr. LeBrun: When Terry and Ron are in person at the next meeting we will administer the oath of office.

C. Election of Officers
Mr. LeBrun: Anytime there is an appointment to the Board you are required to do an election of officers.

D. Consideration of Resolution 2025-02 Electing Officers
Mr. LeBrun: The Board can change the officers, Chair or Vice Chair, or keep everything the same.
Mr. Knights: I make a motion to keep everything the same.

On MOTION by Mr. Knights, seconded by Mr. Bickel, with all in favor, Resolution 2025-02 Electing Officers – Keeping the same slate of Officers, was approved.

FOURTH ORDER OF BUSINESS	Business Administration
A. Approval of Minutes of the October 7, 2024 Meeting
Mr. LeBrun: These are the minutes of the October 7, 2024 meeting. Those start on page 10 of your electronic agendas. Happy to take any comments or revisions of those, if not, we just look for a motion to approve those minutes.

On MOTION by Mr. Bickel, seconded by Mr. Knights, with all in favor, the Minutes of the October 7, 2024 Meeting, were approved.

B. Consideration of Check Register
Mr. LeBrun: The check register begins on page 20 of the electronic agendas. There are checks from the general fund, checks 148-169 that total $274,246.44. There are also checks from

the payroll fund, checks 50118-50122 totaling $848.50. The check register total is $275,094.94. Behind that is your line-by-line register. Happy to take any questions on the check register.

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

C. Balance Sheet and Income Statement
Mr. LeBrun: Behind that check register is your unaudited financials through September 30, 2024. No action is required on the Board’s part. They are just there for your review.

FIFTH ORDER OF BUSINESS	Business Items
A. Consideration of Resolution 2025-03 Authorizing Electronic Signatures
Mr. LeBrun: This will allow the Chair and Vice Chair to sign documents electronically. We have done that in the past but this just kind of formalizes it, that way we are not bringing hard copies of documents and having to track Board members down. It can all be done electronically. This resolution memorializes that electronic signature for the District.

On MOTION by Mr. Knights, seconded by Mr. Bickel, with all in favor, Resolution 2025-03 Authorizing Electronic Signatures, was approved.

SIXTH ORDER OF BUSINESS	Staff Reports
A. District Counsel
Mr. LeBrun: Vivek, do you have anything to report?
Mr. Babbar: Nothing to report. I’m happy to answer any questions.

B. District Engineer
Mr. LeBrun: I believe Jason is on. Jason do we still have you? We will check back as he was on earlier.
Mr. Alligood: Good morning, sorry about that. Nothing to report. I did reach out to Dave Reid but haven’t followed back up so will call him again to get information that would be helpful.

C. District Manager
Mr. LeBrun: Nothing here to report. Happy to answer any questions the Board may have.

D. Field Manager
Mr. Scheerer: Included in the agenda package is a copy of the Field Report. As you know, we had a couple of storms. We did pretty well on these last storms. We did not have a lot of damage but what damage we had, we pretty much corrected. I understand there are some concerns with some of the storm water system which I will see what I can do to address some of that as far as the wetlands go and a couple of the golf holes, namely hole 18, so we will look into that. Irrigation inspections are ongoing. The letters on all of the archways were working as of this report. I was out all last week for vacation so this report went out a little early. We will continue to monitor those as well as the landscape up lights. All of the fountains are working. As of this report, they were all working this morning as well. Nothing to deal with fountain wise. The landscaping is looking pretty good. We are getting ready to do palm tree pruning so if you see some ribbons around some of the palms that is the landscaper identifying which ones are part of Stoneybrook South CDD because some are ours and some are respective HOA so we have that going on. Annuals are in. I believe I saw some at the main gate coming in this morning. I will check the rest of them after the meeting. The ponds are being disced monthly. The architectural fountain is in good shape. We should begin some of the pressure washing relatively quickly. We have talked about this before but the traffic circle and some of the entrances. We do not own the sidewalks and the roads internally so we won’t be doing any of those. One of the things I know, I met again with Ron to go over the signs at the school. Those signs were changed out with the approved language as well as the DOT stickers that are on the back. Hopefully local law enforcement won’t come back to us and say you didn’t do or we need. The only thing we haven’t talked with them, will have to get with the new engineer, is the proposed crosswalk that they want and where it is at and whether or not it can be done. I will get with Jason on that. At some point, we will meet on site and go over all of that.
Mr. Knights: It is a lot better.
Mr. Siron: There are only a few people that cannot read.
Mr. Scheerer: There is always those few. It doesn’t matter. Always a few that don’t think the language applies to them.
Mr. Knights: I agree with the crosswalk because that is the only issue that I feel is dangerous right now.

Mr. Manjourides: The sign on the Bella Citta exit.
Mr. Scheerer: Yes, we have to remove that. The big advertisement sign that is out there. Mr. Manjourides: Yes, we should get rid of that.
Mr. Scheerer: When my guys come out to the landscape lights, I will have them load it up and remove that for you all. As a side note, we had some cleanup items on street lights. We had gotten with the HOA. There was just a couple of sections internal here that were still in the name of the HOA that should have been CDD. I am working with Laura over at Duke and of course Jeremy and the HOA. We have identified all of those and those have all been transferred into the name of the District. Shouldn’t have any other hopefully outstanding items that are in the name of the HOA that should be CDD at this time. We will have the same report for the next meeting because we did a bunch over at the other CDD as well. That is all I have and can answer any questions you might have.
Mr. Phillips: A week or so ago the fountain on 18, the lights do not go on. There is a short in it. If you try to turn it on, it just keeps kicking the breaker.
Mr. Scheerer: Yes sir, we will check it. I don’t see the lights because I am only here during the day.
Mr. Phillips: Thank you!
Mr. Bickel: The CDD has nothing to do with the internal roads like even in our master
HOA.
Mr. Scheerer: Apparently, we own the curbing as part of the stormwater system and the
inlets but the road itself is private and belongs to the respective HOAs or condos or however they are set up.
Mr. Bickel: On Dug Valley, there always gets all kind of debris by the curb and all the water rushing down the street even just from sprinklers it just stops. It doesn’t make it down quickly to the storm drain. Oh not Dug Valley, its Bunker. Is that a problem that when the storm drain comes.
Mr. Scheerer: If it is a storm drain problem.
Mr. Bickel: It is not. It is a feed into the outflow.
Mr. Scheerer: If it is a roadway problem then that would fall to the respective HOA. Jeremy and myself and Dave Reid the previous engineer, there was some questions coming up about some

cracked curbing and stuff like that and that was identified as being part of the storm system so that would be us to repair but as far as cleaning the streets.
Mr. Bickel: I was talking about at the actual drain clogged up. Mr. Scheerer: If it is in our drain then we would have to do it.
Mr. Bickel: It is even prior to that, because there are those trees along there. I take my dog up there twice a day but keep forgetting to bring my shovel. I just want to run the shovel down to get that water going.
Mr. Scheerer: I can get with the landscaper. Are you on the Retreat side or on the Country Club side?
Mr. Bickel: The country club.
Mr. Scheerer: I would think that United Land would do that. They mow all the yards, right? Mr. Bickel: Yes.
Mr. Scheerer: Part of that would be to clean up any of the gutters in front of the house because you are edging in front of the homes. I can get with United. I have a relationship with them even though they are not our provider.
Mr. Knights: We will see what happens when they cut the grass and it goes out into the street then combines with the blowers and they blow it back into the curb.
Mr. Scheerer: They should blow it out of the curb. Our landscaper this morning, I am not pointing fingers, but she was out there with her blower. They had mowed Oasis Club Blvd. that the CDD maintains and she was blowing everything out of the curb and that is the way that should go. It shouldn’t be left in the curb.
Mr. Knights: It just depends on who has the handle on the blower at that time. Mr. Scheerer: We can address that.
Mr. Knights: I have seen them in the middle of the street blowing everything into the curb. Mr. Scheerer: I will get with John Boralin.
Mr. Bickel: It’s nothing, not a big deal. I don’t know how pristine or clean anything needs to be to go into that storm drain system.
Mr. Scheerer: It should be as clean as possible.
Mr. Bickel: After a while, you are getting all of that build up.
Mr. Scheerer: It is against the permit to blow grass, leaves and debris into the storm drain. Mr. Manjourides: Where does the storm drain go, into the ponds?

Mr. Scheerer: Into the ponds, yeah.
Mr. Knights: I can remember when they were building the North side, they would drain one pond so they could build those drains down below the water surface that way critters can’t go in there and build nests.
Mr. Bickel: I can’t imagine what is down there.
Mr. Knights: It is not just right under the surface. They build those drains way down at the bottom. Those ponds are pretty deep. It surprised me how deep they were, probably 10, 12, 13 feet deep some of them.
Mr. Scheerer: I will get with United.
Mr. Bickel: Once a month all they would have to do is run a shovel all the way down.
Mr. Scheerer: Well, every time they mow. Remind you now, we are in winter season so a lot of the landscapers are every other week that they come to do that now. Anytime they edge and mow, anything that gets in the road up against a curb, they should be blowing out. That is what we expect.
Mr. Manjourides: Absolutely because all of those leaves and stuff.
Mr. Bickel: In our area it’s Master Association, they get their sprinklers going in that little section on the sidewalk and grass but none of it goes on the grass.
Mr. Scheerer: That is up to your landscaper.
Manjourides: On Bella Citta exit, there was a tree that they had cut down and you were going to investigate it and maybe put something else there.
Mr. Scheerer: There really isn’t a good palm tree that we can put back in there. We are not planning it this time. We would have to come back in and stump grind that old canary palm out. If you want a tree, we can look into it.
Mr. Manjourides: No, I was just wondering because you said you were going to look into something else.
Mr. Scheerer: We did, we thought we could put in another palm but the University of Florida extension office that handles all of the landscape and stuff anymore is leaning more towards a five year wait period for any palm that has fusarium or lethal yellowing because if not, you have to try to replace all of the soil. Right now, we are in a hold. I can put a Japanese blueberry or something in there.
Mr. Manjourides: No, I was just wondering.

Mr. Scheerer: The canary was great. Those are amazing palms but pretty much every palm tree now seems to be susceptible to fusarium.

SEVENTH ORDER OF BUSINESS	Supervisor’s Request
Mr. LeBrun: That brings us down to Supervisor’s requests. Do any Supervisors have any requests?
Mr. Phillips: Alan, look into a Mule Palm. They are less susceptible to lethal browning. Mr. Scheerer: We did.
Mr. Phillips: What did they say?
Mr. Scheerer: The University of Florida is recommending not planting anymore palms up to a five year wait period Ron.
Mr. Phillips: Is that right?
Mr. Scheerer: That is what they are telling us.
Mr. Phillips: I just took one out of my yard and put one in so we will see if it dies. Mr. Scheerer: Private property is different than ours.
Mr. Phillips: I am just saying if their recommendation is not to plant for five years then it should be everywhere and not just on certain soils. I had one in my yard and took it out and put a new one in so we will see if it dies.
Mr. Scheerer: Yes sir.

EIGHTH ORDER OF BUSINESS	Adjournment
Mr. LeBrun: If there are no other Supervisor requests that brings us to a motion to adjourn.

On MOTION by Mr. Knights, seconded by Mr. Bickel, with all in favor, the meeting was adjourned.

Secretary/Assistant Secretary	Chairman/Vice Chairman

Section B

Stoneybrook South
Community Development District
Summary of Invoices

October 1, 2024 - January 28, 2025

Fund	Date	Check No.'s	Amount	

General Fund	

10/9/24	

148-149	

$	17,269.00	
	10/17/24	150-153	8,297.63	
	10/24/24	154-156	9,170.62	
	10/30/24	157	501.60	
	11/7/24	158-164	31,258.17	
	11/14/24	165-166	7,519.13	
	11/21/24	167	339.00	
	11/24/24	168-169	199,891.29	
	12/5/24	170-173	1,271.50	
	12/12/24	174-175	6,320.36	
	12/14/24	176-179	1,705,759.21	
	12/19/24	180	8,426.50	
	1/9/25	181-188	85,790.24	
	1/16/25	189-190	63,394.15	
	1/23/25	191	223.18	
			$	2,145,431.58	
Payroll Fund	October 2024 Chris Manjourides	
50118	
$	184.70	
	Gerard Knights	50119	184.70	
	Lawrence Bickel	50120	184.70	
	Ronald Phillips	50121	184.70	
	Terry Siron	50122	109.70	
			$	848.50	
	December 2024 Chris Manjourides	
50123	
$	184.70	
	Gerard Knights	50124	184.70	
	Lawrence Bickel	50125	184.70	
	Ronald Phillips	50126	184.70	
	Terry Siron	50127	109.70	
			$	848.50	
	TOTAL		$ 2,147,128.58	

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/28/25	PAGE	1
*** CHECK DATES 10/01/2024 - 01/28/2025 ***	GENERAL FUND
BANK B GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
10/09/24 00020	9/25/24 34311A	202409 320-53800-47100	*	112.80
FOUNTAIN CLEAN ROUNDABOUT
9/25/24 34311A	202409 300-13100-10100	*	127.20
FOUNTAIN CLEAN ROUNDABOUT
FOUNTAIN DESIGN GROUP, INC.	240.00 000148
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/09/24 00056 10/01/24 28172	202410 320-53800-46200	*	7,833.34
LANDSCAPE MAINT OCT24
10/01/24 28172	202410 300-13100-10100	*	9,195.66
LANDSCAPE MAINT OCT24
FLORALAWN 2 LLC	17,029.00 000149
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/17/24 00052 10/04/24 5651	202410 320-53800-47400	*	855.60
RPLC BRKN CONCRETE-OASIS
10/04/24 5651	202410 300-13100-10100	*	1,004.40
RPLC BRKN CONCRETE-OASIS
BERRY CONSTRUCTION INC	1,860.00 000150
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/17/24 00013 10/01/24 90955	202410 310-51300-54000	*	175.00
FY25 SPECIAL DISTRICT FEE
FLORIDA DEPARTMENT OF COMMERCE	175.00 000151

10/17/24 00001	10/01/24	
	10/01/24	
	10/01/24	
	10/01/24	
	10/01/24	
	10/01/24	
	10/01/24	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
215	202410 310-51300-34000	*	3,750.00
MANAGEMENT FEES OCT24
215	202410 310-51300-35200	*	105.00
WEBSITE ADMIN OCT24
215	202410 310-51300-35100	*	157.50
INFORMATION TECH OCT24
215	202410 310-51300-31300	*	525.00
DISSEMINATION FEE OCT24
215	202410 310-51300-51000	*	.21

202410 310-51300-42000	*	16.75	
202410 320-53800-12000	*	1,536.17	

OFFICE SUPPLIES 215
POSTAGE 216
FIELD MANAGEMENT OCT24
GOVERNMENTAL MANAGEMENT SERVICES	6,090.63 000152
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/17/24 00012 10/01/24 218540B	202410 320-53800-47000	*	79.12
MTHLY WATER MGMT OCT24
10/01/24 218540B	202410 300-13100-10100	*	92.88
MTHLY WATER MGMT OCT24
THE LAKE DOCTORS, INC.	172.00 000153
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/24/24 00056 10/18/24 28452	202410 320-53800-53100	*	1,628.40
HURRICANE MILTON-CLEANUP
SSTH STONE SOUTH	TVISCARRA

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/28/25	PAGE	2
*** CHECK DATES 10/01/2024 - 01/28/2025 ***	GENERAL FUND
BANK B GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
10/18/24 28452	202410 300-13100-10100	*	1,911.60
HURRICANE MILTON-CLEANUP
FLORALAWN 2 LLC	3,540.00 000154
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/24/24 00055	8/26/24 23MMS069 202407 310-51300-31100	*	3,025.94 ANNUAL INSPECT/RESRCH/RPT
10/21/24 23MMS069 202409 310-51300-31100	*	2,343.93 MTG/MNT MAP/RPT/UPDATES
MADDEN MOORHEAD & STOKES LLC	5,369.87 000155
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/24/24 00002	9/18/24 10118293 202409 310-51300-48000	*	260.75
NOT.OF FY25 MEETING DATES
ORLANDO SENTINEL	260.75 000156
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/30/24 00056 10/25/24 28341	202410 320-53800-46700	*	230.74
RPR 16 NOZZLES/13 SPRAYS
10/25/24 28341	202410 300-13100-10100	*	270.86
RPR 16 NOZZLES/13 SPRAYS
FLORALAWN 2 LLC	501.60 000157
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/07/24 00037 11/04/24 R312527- 202411 310-51300-49100	*	1.20
2024 PROPERTY TAX - 1PJ40
BRUCE VICKERS, TAX COLLECTOR	1.20 000158
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/07/24 00020	1/28/24 34563A	202410 320-53800-47100	*	110.40
FOUNTAIN CLEAN ROUNDABOUT
1/28/24 34563A	202410 300-13100-10100	*	129.60
FOUNTAIN CLEAN ROUNDABOUT
FOUNTAIN DESIGN GROUP, INC.	240.00 000159
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/07/24 00056 11/01/24 28678	202411 320-53800-46200	*	7,833.34
LANDSCAPE MAINT NOV24
11/01/24 28678	202411 300-13100-10100	*	9,195.66
LANDSCAPE MAINT NOV24
FLORALAWN 2 LLC	17,029.00 000160
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/07/24 00012 11/01/24 226336B	202411 320-53800-47000	*	79.12
MTHLY WATER MGMT NOV24
11/01/24 226336B	202411 300-13100-10100	*	92.88
MTHLY WATER MGMT NOV24
THE LAKE DOCTORS, INC.	172.00 000161
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/07/24 00032 11/01/24 11012024 202411 300-20700-10100	*	8,763.56
FY24 DEBT SRVC SER2014
STONEYBROOK SOUTH CDD C/O USBANK	8,763.56 000162
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
SSTH STONE SOUTH	TVISCARRA

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/28/25	PAGE	3
*** CHECK DATES 10/01/2024 - 01/28/2025 ***	GENERAL FUND
BANK B GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
11/07/24 00032 11/01/24 11012024 202411 300-20700-10200	*	4,899.91
FY24 DEBT SRVC SER2023
STONEYBROOK SOUTH CDD C/O USBANK	4,899.91 000163
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/07/24 00011 11/05/24 25456	202409 310-51300-31500	*	152.50
REV/REPLY ENG.AGR EMAIL
STRALEY ROBIN VERICKER PA	152.50 000164
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/14/24 00058 10/31/24 37195	202410 320-53800-49100	*	662.40
RPLC VERBIAGE SIGN/FDOT
10/31/24 37195	202410 300-13100-10100	*	777.60
RPLC VERBIAGE SIGN/FDOT
FAUSNIGHT STRIPE & LINE INC	1,440.00 000165
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/14/24 00001 11/01/24 217	202411 310-51300-34000	*	3,750.00
MANAGEMENT FEES NOV24
11/01/24 217	202411 310-51300-35200	*	105.00
WEBSITE ADMIN NOV24
11/01/24 217	202411 310-51300-35100	*	157.50
INFORMATION TECH NOV24
11/01/24 217	202411 310-51300-31300	*	525.00
DISSEMINATION FEE NOV24
11/01/24 217	202411 310-51300-51000	*	.27
OFFICE SUPPLIES
11/01/24 217	202411 310-51300-42000	*	4.89
POSTAGE
11/01/24 217	202411 310-51300-42500	*	.30
COPIES
11/01/24 218	202411 320-53800-12000	*	1,536.17
FIELD MANAGEMENT NOV24
GOVERNMENTAL MANAGEMENT SERVICES	6,079.13 000166
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/21/24 00044 11/12/24 17159	202411 320-53800-47100	*	155.94
POND6 FNT-2POLE GFI BRKR
11/12/24 17159	202411 300-13100-10100	*	183.06
POND6 FNT-2POLE GFI BRKR
LAKE FOUNTAINS AND AERATION, INC.	339.00 000167
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/24/24 00032 11/22/24 11222024 202411 300-20700-10100	*	128,207.80
FY25 DEBT SERVICE SER2014
STONEYBROOK SOUTH CDD C/O USBANK	128,207.80 000168
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/24/24 00032 11/22/24 11222024 202411 300-20700-10200	*	71,683.49
FY25 DEBT SERVICE SER2023
STONEYBROOK SOUTH CDD C/O USBANK	71,683.49 000169
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
SSTH STONE SOUTH	TVISCARRA

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/28/25	PAGE	4
*** CHECK DATES 10/01/2024 - 01/28/2025 ***	GENERAL FUND
BANK B GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
12/05/24 00020 11/25/24 34808A	202411 320-53800-47100	*	110.40
FOUNTAIN CLEAN ROUNDABOUT
11/25/24 34808A	202411 300-13100-10100	*	129.60
FOUNTAIN CLEAN ROUNDABOUT
FOUNTAIN DESIGN GROUP, INC.	240.00 000170
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/05/24 00012 12/02/24 233685B	202412 320-53800-47000	*	79.12
MTHLY WATER MGMT DEC24
12/02/24 233685B	202412 300-13100-10100	*	92.88
MTHLY WATER MGMT DEC24
THE LAKE DOCTORS, INC.	172.00 000171
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/05/24 00011 11/25/24 25614	202410 310-51300-31500	*	274.50
REV.AGDA PCKGE/BOARD MTG
STRALEY ROBIN VERICKER PA	274.50 000172
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/05/24 00060 12/01/24 3616769	202412 320-53800-47200	*	269.10
POND MANAGEMENT DEC24
12/01/24 3616769	202412 300-13100-10100	*	315.90
POND MANAGEMENT DEC24
TIGRIS AQUATIC SERVICES LLC	585.00 000173
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/12/24 00001 12/01/24 219	202412 310-51300-34000	*	3,750.00

	12/01/24	
	12/01/24	
	12/01/24	
	12/01/24	
	12/01/24	
	12/01/24	
	12/01/24	

MANAGEMENT FEES DEC24
219	202412 310-51300-35200	*	105.00
WEBSITE ADMIN DEC24
219	202412 310-51300-35100	*	157.50
INFORMATION TECH DEC24
219	202412 310-51300-31300	*	525.00
DISSEMINATION FEE DEC24
219	202412 310-51300-51000	*	.18

202412 310-51300-42000	*	3.72	
202412 320-53800-12000	*	1,536.17	

OFFICE SUPPLIES 219
POSTAGE 220
FIELD MANAGEMENT DEC24
220A	202410 310-51300-42000	*	.86
USPS-MAIL 941 FORMS
GOVERNMENTAL MANAGEMENT SERVICES	6,078.43 000174
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/12/24 00002 11/22/24 10530929 202411 310-51300-48000	*	241.93
NOT.AUDITOR/MTG 12/02/24
ORLANDO SENTINEL	241.93 000175
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/14/24 00032 12/11/24 12112024 202412 300-20700-10100	*	694,438.84
FY25 DEBT SERV SER2014
STONEYBROOK SOUTH CDD C/O USBANK	694,438.84 000176
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
SSTH STONE SOUTH	TVISCARRA

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/28/25	PAGE	5
*** CHECK DATES 10/01/2024 - 01/28/2025 ***	GENERAL FUND
BANK B GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
12/14/24 00032 12/11/24 12112024 202412 300-20700-10200	*	388,274.37
FY25 DEBT SERV SER2023
STONEYBROOK SOUTH CDD C/O USBANK	388,274.37 000177
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/14/24 00051 12/11/24 12112024 202412 300-58100-10000	*	23,046.00
FY25 CAPITAL RESERVE AMT
STONEYBROOK SOUTH CDD C/O	23,046.00 000178
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/14/24 00051 12/11/24 12112024 202412 300-15100-10000	*	600,000.00
TRANSFER FUNDS-OPER. RES.
STONEYBROOK SOUTH CDD C/O	600,000.00 000179
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/19/24 00044 12/13/24 17203	202412 320-53800-47100	*	3,406.99
POND#8-4LED LIGHT/250CABL
12/13/24 17203	202412 300-13100-10100	*	3,999.51
POND#8-4LED LIGHT/250CABL
12/13/24 17204	202412 320-53800-47100	*	469.20
POND#7-CONTROL BOX
12/13/24 17204	202412 300-13100-10100	*	550.80
POND#7-CONTROL BOX
LAKE FOUNTAINS AND AERATION, INC.	8,426.50 000180
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/09/25 00020 12/26/24 35062A	202412 320-53800-47100	*	110.40
FOUNTAIN CLEAN ROUNDABOUT
12/26/24 35062A	202412 300-13100-10100	*	129.60
FOUNTAIN CLEAN ROUNDABOUT
12/26/24 35062A	202412 320-53800-47100	*	85.10
PENTAIR PAP-150 FLTR CART
12/26/24 35062A	202412 300-13100-10100	*	99.90
PENTAIR PAP-150 FLTR CART
FOUNTAIN DESIGN GROUP, INC.	425.00 000181
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/09/25 00056	1/01/25 29830	202501 320-53800-46200	*	7,833.34
LANDSCAPE MAINT JAN25
1/01/25 29830	202501 300-13100-10100	*	9,195.66
LANDSCAPE MAINT JAN25
FLORALAWN 2 LLC	17,029.00 000182
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/09/25 00001	1/01/25 221	202501 310-51300-34000	*	3,750.00
MANAGEMENT FEES JAN25
1/01/25 221	202501 310-51300-35200	*	105.00
WEBSITE ADMIN JAN25
1/01/25 221	202501 310-51300-35100	*	157.50
INFORMATION TECH JAN25
1/01/25 221	202501 310-51300-31300	*	525.00
DISSEMINATION FEE JAN25
SSTH STONE SOUTH	TVISCARRA

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/28/25	PAGE	6
*** CHECK DATES 10/01/2024 - 01/28/2025 ***	GENERAL FUND
BANK B GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
1/01/25 221	202501 310-51300-51000	*	.27
OFFICE SUPPLIES
1/01/25 221	202501 310-51300-42000	*	14.73
POSTAGE
1/01/25 222	202501 320-53800-12000	*	1,536.17
FIELD MANAGEMENT JAN25
GOVERNMENTAL MANAGEMENT SERVICES	6,088.67 000183
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/09/25 00061 10/31/24 29838194 202410 310-51300-31100	*	2,112.50
INITIAL MTG/SITE VISIT
KIMLEY-HORN AND ASSOCIATES INC	2,112.50 000184
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/09/25 00012	1/02/25 240949B	202501 320-53800-47000	*	79.12
MTHLY WATER MGMT JAN25
1/02/25 240949B	202501 300-13100-10100	*	92.88
MTHLY WATER MGMT JAN25
THE LAKE DOCTORS, INC.	172.00 000185
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/09/25 00032	1/01/25 01012025 202501 300-20700-10100	*	38,065.12
FY25 DEBT SRVC SER2014
STONEYBROOK SOUTH CDD C/O USBANK	38,065.12 000186
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/09/25 00032	1/01/25 01012025 202501 300-20700-10200	*	21,282.95
FY24 DEBT SRVC SER2023
STONEYBROOK SOUTH CDD C/O USBANK	21,282.95 000187
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/09/25 00060	1/01/25 3673711	202501 320-53800-47200	*	282.90
POND MAINTENANCE JAN25
1/01/25 3673711	202501 300-13100-10100	*	332.10
POND MAINTENANCE JAN25
TIGRIS AQUATIC SERVICES LLC	615.00 000188
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/16/25 00032	1/10/25 01102025 202501 300-20700-10100	*	40,660.22
FY25 DEBT SRVC SER2014
STONEYBROOK SOUTH CDD C/O USBANK	40,660.22 000189
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/16/25 00032	1/10/25 01102025 202501 300-20700-10200	*	22,733.93
FY25 DEBT SRVC SER2023
STONEYBROOK SOUTH CDD C/O USBANK	22,733.93 000190
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/23/25 00002 12/10/24 10730155 202412 310-51300-48000	*	223.18
RFP ANNUAL AUDIT 01/24/25
ORLANDO SENTINEL	223.18 000191
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK B	2,145,431.58 SSTH STONE SOUTH	TVISCARRA

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/28/25	PAGE	7
*** CHECK DATES 10/01/2024 - 01/28/2025 ***	GENERAL FUND
BANK B GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#

TOTAL FOR REGISTER	2,145,431.58

SSTH STONE SOUTH	TVISCARRA

Section C

Stoneybrook South
Community Development District

Unaudited Financial Reporting
December 31, 2024

Table of Contents

1

2-3

4

5

6

7

8

Balance Sheet

General Fund Income Statement

Capital Reserve Fund

Debt Service Fund Series 2014 Income Statement

Debt Service Fund Series 2023 Income Statement

Month to Month

Assessment Receipt Schedule

Balance Sheet December 31, 2024

	General Fund	Capital Reserve Fund	Debt Service Fund	Totals Governmental Funds	
Assets:					
Cash - SouthState Bank	$	293,082	$	317,299	$	-	$	610,381	
Investments: Series 2014						
Reserve	-	-	607,314	607,314	
Revenue	-	-	1,537,050	1,537,050	
Series 2023				
Revenue	-	-	549,733	549,733	
Interest	-	-	2	2	
Investment - SBA	617,307	1,086,957	-	1,704,264	
Due From General Fund	-	-	59,348	59,348	
Due From SSC CDD	144,209	-	-	144,209	
Total Assets	$	1,054,598	$	1,404,256	$	2,753,446	$	5,212,301	
Liabilities:					
Accounts Payable	$	2,761	$	-	$	-	$	2,761	
Due to Debt Service 2014	38,065	-	-	38,065	
Due to Debt Service 2023	21,283	-	-	21,283	
Due to SSC CDD	82,332	-	-	82,332	
Total Liabilities	$	144,441	$	-	$	-	$	144,441	

Fund Balances:			
Assigned For Debt Service 2014	$	-	$	-	$	2,182,429	$	2,182,429	
Assigned For Debt Service 2023	-	-	571,018	571,018	
Assigned For Capital Reserves	-	1,404,256	-	1,404,256	
Unassigned	910,157	-	-	910,157	
Total Fund Balances	$	910,157	$	1,404,256	$	2,753,446	$	5,067,860	
					
Total Liabilities & Fund Equity	$	1,054,598	$	1,404,256	$	2,753,446	$	5,212,301	

Adopted	Prorated Budget	Actual	
Budget	Thru 12/31/24	Thru 12/31/24	Variance	

Revenues:		
Special Assessments	$	845,101	$	699,069	$	699,069	$	-	
Interest	12,000	3,000	1,259	(1,741)	
Total Revenues	$	857,101	$	702,069	$	700,327	$	(1,741)	

Expenditures:					
Administrative:					
Supervisor Fees	$	8,000	$	2,000	$	2,000	$	-	
FICA Expense	612	153	153	-	
Engineering Fees	10,000	2,500	2,113	388	
Attorney	15,000	3,750	275	3,476	
Arbitrage	1,100	-	-	-	
Dissemination	6,300	1,575	1,575	-	
Annual Audit	4,650	-	-	-	
Trustee Fees	8,500	-	-	-	
Assessment Administration	6,300	6,300	6,300	-	
Management Fees	45,000	11,250	11,250	-	
Information Technology	1,890	473	473	-	
Website Maintenance	1,260	315	315	-	
Telephone	50	13	-	13	
Postage	500	125	26	99	
Printing & Binding	400	100	0	100	
Insurance	7,055	7,055	6,861	194	
Legal Advertising	2,500	625	465	160	
Other Current Charges	1,200	300	186	114	
Office Supplies	100	25	1	24	
Property Appraiser Fee	700	-	-	-	
Property Taxes	50	50	1	49	
Dues, Licenses & Subscriptions	175	175	175	-	
Total Administrative:	$	121,342	$	36,783	$	32,168	$	4,615	

Adopted	Prorated Budget	Actual	
Budget	Thru 12/31/24	Thru 12/31/24	Variance	

Operations & Maintenance		
Field Services	$	18,434	$	4,609	$	4,609	$	(0)	
Property Insurance	15,362	15,362	14,646	716	
Electric	57,108	14,277	10,754	3,523	
Streetlights	149,038	37,260	37,981	(721)	
Water & Sewer	156,688	39,172	35,486	3,686	
Landscape Maintenance	219,427	54,857	37,679	17,178	
Landscape Contingency	30,940	7,735	1,554	6,181	
Tree Trimming	2,304	576	-	576	
Lake Maintenance	5,069	1,267	984	283	
Irrigation Repairs	20,738	5,185	2,145	3,039	
Entry & Walls Maintenance	6,913	1,728	-	1,728	
Fountain Repair & Maintenance	3,456	864	4,676	(3,812)	
Miscellaneous - Stormwater Control	2,304	576	856	(279)	
Mitigation Monitoring & Maintenance	6,495	1,624	2,003	(379)	
Pressure Washing	2,304	576	-	576	
Repairs & Maintenance	4,608	1,152	662	490	
Sidewalk Repair & Maintenance	2,304	576	-	576	
Roadway Repair & Maintenance - Storm Gutters	2,304	576	-	576	
Contingency	6,913	1,728	-	1,728	
Hurricane Expenses	-	-	3,257	(3,257)	
Total Operations & Maintenance:	$	712,713	$	189,700	$	157,292	$	32,408	
Reserves					
Capital Reserve Transfer	$	23,046	$	23,046	$	23,046	$	-	
Total Reserves	$	23,046	$	23,046	$	23,046	$	-	
					
Total Expenditures	$	857,101	$	249,529	$	212,506	$	37,023	
					
Excess Revenues (Expenditures)	$	(0)		$	487,822		
					
Fund Balance - Beginning	$	-		$	422,336		
					
Fund Balance - Ending	$	(0)		$	910,157		

Capital Reserve
Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending December 31, 2024

Adopted	Prorated Budget	Actual	
Budget	Thru 12/31/24	Thru 12/31/24	Variance	

Revenues:		
Transfer In	$	23,046	$	23,046	$	23,046	$	-	
Interest	60,000	15,000	15,083	83	
Total Revenues	$	83,046	$	38,046	$	38,129	$	83	

Expenditures:					
Contingency	$	600	$	-	$	-	$	-	
Capital Outlay	61,139	15,285	-	15,285	
Total Expenditures	$	61,739	$	15,285	$	-	$	15,285	
					
Excess Revenues (Expenditures)	$	21,307	$	22,761	$	38,129		
					
Fund Balance - Beginning	$	1,379,192		$	1,366,128		
					
Fund Balance - Ending	$	1,400,499		$	1,404,256		

Debt Service Fund - Series 2014
Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending December 31, 2024

Adopted	Prorated Budget	Actual	
Budget	Thru 12/31/24	Thru 12/31/24	Variance	

Revenues:		
Special Assessments	$	1,040,511	$	860,712	$	860,712	$	-	
Interest	85,000	21,250	20,869	(381)	
Total Revenues	$	1,125,511	$	881,962	$	881,580	$	(381)	

Expenditures:					
Series 2014
Interest - 11/01	

$	329,538	

$	329,538	

$	329,538	

$	-	
Principal - 11/01	340,000	340,000	340,000	-	
Interest - 05/01	321,463	-	-	-	
Total Expenditures	$	991,000	$	669,538	$	669,538	$	-	

Other Sources/(Uses)					
Transfer In/(Out)	$	-	$	-	$	-	$	-	
Total Other Financing Sources (Uses)	$	-	$	-	$	-	$	-	
					
Excess Revenues (Expenditures)	$	134,511		$	212,043		
					
Fund Balance - Beginning	$	1,332,396		$	1,970,386		
					
Fund Balance - Ending	$	1,466,907		$	2,182,429		

Stoneybrook South
Community Development District Debt Service Fund - Series 2023
Statement of Revenues, Expenditures, and Changes in Fund Balance For The Period Ending December 31, 2024

	Adopted	Prorated Budget	Actual		
	Budget	Thru 12/31/24	Thru 12/31/24	Variance	
Revenues:					
Special Assessments	$	581,771	$	481,241	$	481,241	$	-	
Interest	12,000	3,000	2,149	(851)	
Total Revenues	$	593,771	$	484,241	$	483,390	$	(851)	

Expenditures:					
Series 2023
Interest - 11/01	

$	151,520	

$	151,520	

$	151,520	

$	-	
Principal - 05/01	284,000	-	-	-	
Interest - 05/01	151,520	-	-	-	
Total Expenditures	$	587,039	$	151,520	$	151,520	$	-	

Other Sources/(Uses)					
Transfer In/(Out)	$	-	$	-	$	-	$	-	
Total Other Financing Sources (Uses)	$	-	$	-	$	-	$	-	
					
Excess Revenues (Expenditures)	$	6,732		$	331,871		
					
Fund Balance - Beginning	$	228,020		$	239,147		
					
Fund Balance - Ending	$	234,752		$	571,018		

Stoneybrook South
Community Development District Month to Month
	Oct		Nov		Dec	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sept		Total	
Revenues:

Special Assessments	

$	-	

$	

104,130	

$	

594,938	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	

699,069	
Interest	201	65	992	-	-	-	-	-	-	-	-	-	1,259	
Miscellaneous Income	-	-	-	-	-	-	-	-	-	-	-	-	-	
Total Revenues	$	201  $	104,195	$ 595,931	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  700,327	

Expenditures:					
Administrative:
Supervisor Fees	
$	1,000 $	
-	
$	1,000	
$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	2,000	
FICA Expense	77	-	77	-	-	-	-	-	-	-	-	-	153	
Engineering Fees	2,113	-	-	-	-	-	-	-	-	-	-	-	2,113	
Attorney	275	-	-	-	-	-	-	-	-	-	-	-	275	
Arbitrage	-	-	-	-	-	-	-	-	-	-	-	-	-	
Dissemination	525	525	525	-	-	-	-	-	-	-	-	-	1,575	
Annual Audit	-	-	-	-	-	-	-	-	-	-	-	-	-	
Trustee Fees	-	-	-	-	-	-	-	-	-	-	-	-	-	
Assessment Administration	6,300	-	-	-	-	-	-	-	-	-	-	-	6,300	
Management Fees	3,750	3,750	3,750	-	-	-	-	-	-	-	-	-	11,250	
Information Technology	158	158	158	-	-	-	-	-	-	-	-	-	473	
Website Maintenance	105	105	105	-	-	-	-	-	-	-	-	-	315	
Telephone	-	-	-	-	-	-	-	-	-	-	-	-	-	
Postage	18	5	4	-	-	-	-	-	-	-	-	-	26	
Printing & Binding	-	0	-	-	-	-	-	-	-	-	-	-	0	
Insurance	6,861	-	-	-	-	-	-	-	-	-	-	-	6,861	
Legal Advertising	-	242	223	-	-	-	-	-	-	-	-	-	465	
Other Current Charges	61	74	50	-	-	-	-	-	-	-	-	-	186	
Office Supplies	0	0	0	-	-	-	-	-	-	-	-	-	1	
Property Appraiser Fee	-	-	-	-	-	-	-	-	-	-	-	-	-	
Property Taxes	-	1	-	-	-	-	-	-	-	-	-	-	1	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Total Administrative:	$  21,416  $	4,860	$	5,891	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	32,168	

Operations & Maintenance
Field Services	

$	1,536 $	

1,536	

$	1,536	

$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	4,609	
Property Insurance	14,646	-	-	-	-	-	-	-	-	-	-	-	14,646	
Electric	3,854	3,113	3,787	-	-	-	-	-	-	-	-	-	10,754	
Streetlights	12,882	12,169	12,929	-	-	-	-	-	-	-	-	-	37,981	
Water & Sewer	10,655	12,246	12,585	-	-	-	-	-	-	-	-	-	35,486	
Landscape Maintenance	15,171	15,171	7,337	-	-	-	-	-	-	-	-	-	37,679	
Landscape Contingency	-	-	1,554	-	-	-	-	-	-	-	-	-	1,554	
Tree Trimming	-	-	-	-	-	-	-	-	-	-	-	-	-	
Lake Maintenance	328	328	328	-	-	-	-	-	-	-	-	-	984	
Irrigation Repairs	2,145	-	-	-	-	-	-	-	-	-	-	-	2,145	
Entry & Walls Maintenance	-	-	-	-	-	-	-	-	-	-	-	-	-	
Fountain Repair & Maintenance	338	266	4,072	-	-	-	-	-	-	-	-	-	4,676	
Miscellaneous - Stormwater Control	856	-	-	-	-	-	-	-	-	-	-	-	856	
Mitigation Monitoring & Maintenance	269	1,465	269	-	-	-	-	-	-	-	-	-	2,003	
Pressure Washing	-	-	-	-	-	-	-	-	-	-	-	-	-	
Repairs & Maintenance	662	-	-	-	-	-	-	-	-	-	-	-	662	
Sidewalk Repair & Maintenance	-	-	-	-	-	-	-	-	-	-	-	-	-	
Roadway Repair & Maintenance - Storm Gutters	-	-	-	-	-	-	-	-	-	-	-	-	-	
Contingency	-	-	-	-	-	-	-	-	-	-	-	-	-	
Hurricane Expenses	3,257	-	-	-	-	-	-	-	-	-	-	-	3,257	
Total Operations & Maintenance:	$  66,600  $	46,295	$  44,396	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  157,292	

Reserves					
Capital Reserve Transfer	$	-	$	-	$	23,046	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	23,046	
Total Reserves	$	-	$	-	$  23,046	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	23,046	
					
Total Expenditures	$  88,016  $	51,156	$  73,334	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  212,506	
					
Excess Revenues (Expenditures)	$  (87,815) $	53,039	$  522,597	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	487,822	

Stoneybrook South
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Receipts Fiscal Year 2025

Gross Assessments	$	899,043.92	$ 1,106,926.81	$	618,904.48	$  2,624,875.21	
Net Assessments	$	845,101.28	$ 1,040,511.20	$	581,770.21	$  2,467,382.70	
ON ROLL ASSESSMENTS
34.25%	42.17%	23.58%	100.00%

Date	
Distribution	
Gross Amount	
Commissions	
Discount/Penalty	
Interest	
Net Receipts	
O&M Portion	2014 Debt Service Asmt	2023 Debt Service Asmt	
Total	

11/18/24	
ACH	
$28,051.17	
$533.28	
$1,387.14	
$0.00	
$26,130.75	
$8,950.02	
$11,019.51	
$6,161.22	
$26,130.75	
11/22/24	ACH	$295,376.94	$5,671.25	$11,815.01	$0.00	$277,890.68	$95,180.12	$117,188.29	$65,522.27	$277,890.68	
12/10/24	ACH	$780.26	$15.37	$11.70	$0.00	$753.19	$257.97	$317.63	$177.59	$753.19	
12/11/24	ACH	$1,749,555.16	$33,591.46	$69,981.74	$0.00	$1,645,981.96	$563,763.97	$694,121.21	$388,096.78	$1,645,981.96	
12/20/24	ACH	$95,372.53	$1,842.13	$3,265.91	$0.00	$90,264.49	$30,916.42	$38,065.12	$21,282.95	$90,264.49	
01/09/25	ACH	$12,522.93	$242.93	$375.69	$0.00	$11,904.31	$4,077.34	$5,020.12	$2,806.85	$11,904.31	
01/09/25	ACH	$88,927.53	$1,724.80	$2,688.73	$0.00	$84,514.00	$28,946.82	$35,640.10	$19,927.08	$84,514.00	
						$0.00	$0.00	$0.00	$0.00	$0.00	
						$0.00	$0.00	$0.00	$0.00	$0.00	
						$0.00	$0.00	$0.00	$0.00	$0.00	
						$0.00	$0.00	$0.00	$0.00	$0.00	
						$0.00	$0.00	$0.00	$0.00	$0.00	
						$0.00	$0.00	$0.00	$0.00	$0.00	
						$0.00	$0.00	$0.00	$0.00	$0.00	
						$0.00	$0.00	$0.00	$0.00	$0.00	
						$0.00	$0.00	$0.00	$0.00	$0.00	
						$0.00	$0.00	$0.00	$0.00	$0.00	
						$0.00	$0.00	$0.00	$0.00	$0.00	
						$0.00	$0.00	$0.00	$0.00	$0.00	
						$0.00	$0.00	$0.00	$0.00	$0.00	
	TOTAL	$	2,270,586.52	$	43,621.22	$	89,525.92	$	-	$ 2,137,439.38	$	732,092.66	$	901,371.98	$	503,974.74	$  2,137,439.38	

86.63%
$	329,943.32

Net Percent Collected Balance Remaining to Collect

Section IV

Section A

KATRl:NA	CARB0R0UGH,.C.FAsCC .,,	 C
Os.CEOLACou TY	R0PERTY	PPRAISER

Stoneybrook South CDD
This Data Sharing And Usage Agreement, hereafter referred-to as" Agreement," establishes the terms and conditions under which the Stoneybrook South CDD, 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, 2025 and shall run until December 31, 2025, 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.
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.

OSCEOLA COUNTY PROPERTY APPRAISER
Signature:	_ Print:	Katrina S. Scarborough
Date:	 _

Please returned signed original copy, no later than January 31, 2025

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

Section B

Stoneybrook South Community Development District
ANNUAL FINANCIAL REPORT

September 30, 2023

Stoneybrook South Community Development District ANNUAL FINANCIAL REPORT
September 30, 2023 TABLE OF CONTENTS
Page Number
REPORT OF INDEPENDENT AUDITORS	1-3
MANAGEMENT’S DISCUSSION AND ANALYSIS	4-9
BASIC FINANCIAL STATEMENTS:
Government-wide Financial Statements:
Statement of Net Position	10
Statement of Activities	11
Fund Financial Statements:
Balance Sheet – Governmental Funds	12
Reconciliation of Total Governmental Fund Balances
to Net Position of Governmental Activities	13
Statement of Revenues, Expenditures and Changes in Fund
Balances – Governmental Funds	14
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds
to the Statement of Activities	15
Statement of Revenues, Expenditures and Changes in Fund
Balances – Budget and Actual – General Fund	16
Notes to Financial Statements	17-31
INDEPENDENT AUDITORS’ 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	32-33
MANAGEMENT LETTER	34-36
INDEPENDENT ACCOUNTANTS’ REPORT/COMPLIANCE WITH
SECTION 218.415, FLORIDA STATUTES	37

REPORT OF INDEPENDENT AUDITORS

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

Report on Audit of the Financial Statements
Opinion

We have audited the financial statements of the governmental activities and each major fund of Stoneybrook South Community Development District (the “District”), as of and for the year ended September 30, 2023, and the related notes to financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of Stoneybrook South Community Development District as of September 30, 2023, and the respective changes in financial position and the budgetary comparison for the General Fund for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS), and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the District and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Responsibilities of Management 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; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

- 1 -

To the Board of Supervisors
Stoneybrook South Community Development District

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for one year beyond the financial statement date, including currently known information that may raise substantial doubt thereafter.

Auditor’s Responsibility for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore, is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:

Exercise professional judgement and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining on a test basis, evidence regarding the amounts and
disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly,
no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgement, there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

- 2 -

To the Board of Supervisors
Stoneybrook South Community Development District

Required Supplementary Information
Accounting principles generally accepted in the United States of America require that Management’s Discussion and Analysis be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge 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 a report dated December 9, 2024 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 and contracts.

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 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 Stoneybrook South Community Development District’s internal control over financial reporting and compliance.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida December 9, 2024

- 3 -

Management’s discussion and analysis of Stoneybrook South Community Development District (the “District”) financial performance provides an objective and easily readable analysis of the District’s financial activities. The analysis provides summary financial information for the District and should be read in conjunction with the District’s financial statements.
OVERVIEW OF THE FINANCIAL STATEMENTS

The District’s basic financial statements comprise three components; 1) Government-wide financial statements, 2) Fund financial statements, and 3) Notes to financial statements. The Government-wide financial statements present an overall picture of the District’s financial position and results of operations. The Fund financial statements present financial information for the District’s major funds. The Notes to financial statements provide additional information concerning the District’s finances.

The Government-wide financial statements are the statement of net position and the statement of activities. These statements use accounting methods similar to those used by private-sector companies. Emphasis is placed on the net position of governmental activities and the change in net position. Governmental activities are primarily supported by special assessments.
The statement of net position presents information on all assets and liabilities of the District, with the difference between assets and liabilities reported as net position. Assets, liabilities, and net position are reported for all Governmental activities.

The statement of activities presents information on all revenues and expenses of the District and the change in net position. Expenses are reported by major function and program revenues relating to those functions are reported, providing the net cost of all functions provided by the District. To assist in understanding the District’s operations, expenses have been reported as governmental activities. Governmental activities financed by the District include general government, physical environment and debt service.

Fund financial statements present financial information for governmental funds. These statements provide financial information for the major funds of the District. Governmental fund financial statements provide information on the current assets and liabilities of the funds, changes in current financial resources (revenues and expenditures), and current available resources.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Fund financial statements include a balance sheet and a statement of revenues, expenditures and changes in fund balances for all governmental funds. A statement of revenues, expenditures, and changes in fund balances – budget and actual is provided for the District’s General Fund. Fund financial statements provide more detailed information about the District’s activities. Individual funds are established by the District to track revenues that are restricted to certain uses or to comply with legal requirements.

The government-wide financial statements and the fund financial statements provide different pictures of the District. The government-wide financial statements provide an overall picture of the District’s financial standing. These statements are comparable to private-sector companies and give a good understanding of the District’s overall financial health and how the District paid for the various activities, or functions, provided by the District. All assets of the District, including capital assets, are reported in the statement of net position. All liabilities, including principal outstanding on bonds and notes are included. In the statement of activities, transactions between the different functions of the District have been eliminated in order to avoid “doubling up” the revenues and expenses. The fund financial statements provide a picture of the major funds of the District. In the case of governmental activities, outlays for long lived assets are reported as expenditures and long-term liabilities, such as general obligation bonds, are not included in the fund financial statements. To provide a link from the fund financial statements to the government-wide financial statements, reconciliation is provided from the fund financial statements to the government-wide financial statements.
Notes to financial statements provide additional detail concerning the financial activities and financial balances of the District. Additional information about the accounting practices of the District, investments of the District, capital assets and long-term debt are some of the items included in the notes to financial statements.

Financial Highlights

The following are the highlights of financial activity for the year ended September 30, 2023.

The District’s total assets and deferred outflows of resources exceeded total liabilities and deferred inflows of resources by $15,617,571 (net position). Unrestricted net
position was $1,663,616, restricted net position was $911,527 and net investment in capital assets was $13,042,428.

Governmental activities revenues totaled $2,841,002 while governmental activities expenses totaled $4,307,426.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Financial Analysis of the District

The following schedule provides a summary of the assets, deferred outflows of resources, liabilities, deferred inflows of resources and net position of the District and is presented by category for comparison purposes
Net Position

Governmental Activities
	2023		2022	

Current assets	
$	1,702,135		
$	1,679,971	
Restricted assets	2,011,828		2,853,960	
Capital assets, net	31,511,661		33,761,968	
Deferred outflows of resources		- 			19,410 	
Total Assets and Deferred Outflows		35,225,624 			38,315,309 	
Current liabilities	1,033,792		1,052,732	
Non-current liabilities	18,313,005		19,719,175	
Deferred inflows of resources		261,256 			459,407 	
Total Liabilities and Deferred Inflows		19,608,053 			21,231,314 	
Net investment in capital assets	13,042,428		14,366,321	
Net position - restricted	911,527		1,052,708	
Net position - unrestricted		1,663,616 			1,664,966 	
Total Net Position	 $ 15,617,571 		 $ 17,083,995 	

The decrease in restricted assets is due to expenditures exceeding revenues at the fund level in the current year.
The decrease in capital assets is mainly related to depreciation for the current year.

The decrease in total liabilities is related to the principal payments and bond refunding in the current year.
The decrease in net position is related to expenses exceeding revenues in the current year.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Financial Analysis of the District (Continued)

The following schedule provides a summary of the changes in net position of the District and is presented by category for comparison purposes.

Change in Net Position

	Governmental Activities	
	2023			2022		
Program Revenues Charges for services	
$	2,675,380	
$	2,672,051	
General Revenues			
Investment earnings	165,622		24,609	
Total Revenues	2,841,002		2,696,660	

Expenses
General government	

85,989		

81,485	
Physical environment	3,091,319		3,009,386	
Interest and other charges	1,130,118		1,158,378	
Total Expenses	4,307,426		4,249,249	

Change in Net Position	
(1,466,424)		
(1,552,589)	
Net Position - Beginning of Year	17,083,995		18,636,584	

Net Position - End of Year	
$ 15,617,571		
$ 17,083,995	

The increase in investment earnings is due to an increase in the return on investments in the current year.
The increase in physical environment is mainly related to an increase in streetlighting and landscape maintenance expenses in the current year.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Capital Assets Activity

The following schedule provides a summary of the District’s capital assets as of September 30, 2023 and 2022.
Governmental Activities
Description		2023		2022	

Infrastructure		
$ 45,645,737		
$ 45,645,737	
Less: accumulated depreciation			(14,134,076)			(11,883,769)	
Total		 $ 31,511,661 		 $ 33,761,968 	

Current year activity consisted of depreciation of $2,250,307.

General Fund Budgetary Highlights

Budgeted expenditures exceeded actual expenditures primarily due to less engineering and legal fees and capital outlay expenditures than were anticipated.
The September 30, 2023 budget was not amended.

Debt Management
Governmental Activities debt includes the following:

In June 2013, the District issued $9,300,000 Series 2013 Special Assessment Refunding Bonds. These bonds were issued to refund a portion of the Series 2007A and 2007B Special Assessment Revenue Bonds. The bonds were fully refunded in the current year.

In June 2014, the District issued $14,785,000 Series 2014 Special Assessment Bonds. These bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District, specifically Area Two-A. The balance
outstanding at September 30, 2023 was $12,660,000.

In February 2023, the District issued $6,394,000 Series 2023 Special Assessment Refunding Bonds. These bonds were issued to refund the Series 2013 Special Assessment Refunding Bonds. The balance outstanding at September 30, 2023 was
$6,394,000.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Economic Factors and Next Year’s Budget

Stoneybrook South Community Development District does not anticipate any economic factors to have a significant effect on the financial position or results of operations of the District in fiscal year 2024.
Request for Information

The financial report is designed to provide a general overview of Stoneybrook South Community Development District’s finances for all those with an interest. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the Stoneybrook South Community Development District, Governmental Management Services – CF, LLC, 219 East Livingston Street, Orlando, Florida 32801.

ASSETS	
Current Assets	
Cash	
Investments	
Due from other governments	
Prepaid expenses	
Total Current Assets	
Non-Current Assets	
Restricted Assets	
Investments	
Capital Assets, Being Depreciated	
Infrastructure	
Less: accumulated depreciation	
Total Non-Current Assets	
Total Assets	

Governmental Activities

$	455,052	
1,199,910	
21,577	
	25,596 	
	1,702,135 	

LIABILITIES	
Current Liabilities	
Accounts payable	
Bonds payable	
Accrued interest	
Total Current Liabilities	
Non-Current Liabilities	
Bonds payable, net	
Total Liabilities	

2,011,828

45,645,737	
    (14,134,076)	
     33,523,489 	
     35,225,624 	

23,869	
597,000	
       412,923 	
      1,033,792 	

	18,313,005 
	19,346,797 

DEFERRED INFLOWS OF RESOURCES	
Deferred gain on refunding, net	

	261,256 

NET POSITION	
Net investment in capital assets	
Restricted for debt service	
Unrestricted	
Total Net Position	

13,042,428	
911,527	
	1,663,616 	
 $	15,617,571 	

 

Net (Expense)	
Revenues and	
Program	Changes in	
Revenues	Net Position	
Charges for	Governmental
Services	Activities	

Functions/Programs	Expenses

$	(85,989)	
(3,091,319)	
	(1,130,118)	
 $	(4,307,426)	

$	79,669	$	
779,199	(2,	
	1,816,512  		
 $	2,675,380 	(1,	

Governmental Activities General government Physical environment Interest and other charges
Total Governmental Activities

General Revenues	
Investment income	

(6,320)
312,120)
686,394 
632,046)

	165,622 

Change in Net Position			(1,466,424) Net Position - October 1, 2022		17,083,995 
Net Position - September 30, 2023  $	15,617,571 

Stoneybrook South Community Development District BALANCE SHEET –
GOVERNMENTAL FUNDS
September 30, 2023

Total Governmental

ASSETS	
Cash	
Investments	
Due from other governments	
Prepaid expenses	
Restricted assets	
Investments	
Total Assets	

	General	  Debt Service  	Funds	

$	455,052	
1,199,910	
6,927	
25,596	

$	-	
-	
14,650	
-	

$	455,052	
1,199,910	
21,577	
25,596	

	2,011,828 		2,011,828 	
 $ 2,026,478 	 $	3,713,963 	

	- 
 $ 1,687,485 

LIABILITIES AND FUND BALANCES	
LIABILITIES	
Accounts payable	

 $	23,869 

 $	- 

 $	23,869 

FUND BALANCES	
Nonspendable - prepaid expenses	
Restricted:	
Debt service	
Unassigned	
Total Fund Balances	
Total Liabilities and Fund Balances	

25,596	-	25,596

-	2,026,478	
	1,638,020  	- 	
	1,663,616  	2,026,478 	
 $ 1,687,485   $ 2,026,478 	

2,026,478	
	1,638,020 	
	3,690,094 	
 $	3,713,963 	

Stoneybrook South Community Development District RECONCILIATION OF TOTAL GOVERNMENTAL FUND BALANCES TO NET POSITION OF GOVERNMENTAL ACTIVITIES
September 30, 2023

Total Governmental Fund Balances

Amounts reported for governmental activities in the Statement of Net Position	
are different because:	

Long-term liabilities, including bonds payable, $(19,054,000), net of bond	
discount, net, $143,995, are not due and payable in the current period	
and therefore, are not reported at the fund level.	

Deferred inflows of resources are not current financial uses and	
therefore, are not reported at the fund level.	

$	3,690,094

Capital assets, infrastructure, $45,645,737, net of accumulated depreciation,	
$(14,134,076), used in governmental activities are not current financial	
resources and therefore, are not reported at the fund level.	

31,511,661

(18,910,005)

(261,256)

Accrued interest expense for long-term debt is not a current financial use	
and therefore, is not reported at the governmental fund level.	

	(412,923)

Net Position of Governmental Activities	 $ 15,617,571 

Stoneybrook South Community Development District STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES – GOVERNMENTAL FUNDS
For the Year Ended September 30, 2023

Revenues	
Special assessments	
Investment income	
Total Revenues	

	General		
 Debt Service 	Total Governmental
	Funds		
$ 858,868	$ 1,816,512	$	2,675,380	
	66,783 		98,839 		165,622 	
	925,651 		1,915,351 		2,841,002 	

Expenditures	
Current	
General government	
Physical environment	
Debt service	
Principal	
Interest	
Other	
Total Expenditures	

-	
-	
       - 	
   927,001 	

310,000	
994,835	
    381,443 	
  1,686,278 	

310,000	
994,835	
     381,443 	
    2,613,279 	

Excess of revenues over/(under)	
expenditures	

(1,350)	229,073	227,723

Other Financing Sources/(Uses)	
Issuance of refunding debt	
Payments to refunded escrow agent	
Total Other Financing Sources/(Uses)	

-	6,394,000	6,394,000
	-    (7,465,000) 	(7,465,000)
	-    (1,071,000) 	(1,071,000)

Net Change in Fund Balances	(1,350)	(841,927)	(843,277)

Fund Balances - October 1, 2022	 1,664,966  	2,868,405  	4,533,371 

Fund Balances - September 30, 2023

 $1,663,616 

 $ 2,026,478 

 $	3,690,094 

85,989	
841,012	

-	
-	

85,989	
841,012	

  

RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
For the Year Ended September 30, 2023

Net Change in Fund Balances - Total Governmental Funds	$

Amounts reported for governmental activities in the Statement of Activities are	
different because:	

The issuance of refunding debt is an other financing source at the fund level however,	
it increases liablities at the government-wide level.	

Repayment of bond principal is an expenditure in the governmental funds,	
but the repayment reduces long-term liabilities in the Statement of Net Position.	

The payment to the refunding escrow agent is reflected as an other financing use	
at the fund level however, it reduces liabilities at the government-wide level.	

The issuance of refunding debt created changes in the deferred amount on refunding,	
$(19,091), and the deferred gain on refunding, $179,759, at the government-wide level.	

Governmental funds report bond discounts as expenditures. However, in the	
Statement of Activities, the cost is allocated as interest expense.	

The deferred amount on refunding is amortized at the government-wide level as	
interest over the life of the associated bonds payable. This is the current year	
amount amortized.	

The deferred gain on refunding is amortized at the government-wide level as	
interest over the life of the associated bonds payable. This is the current year	
amount amortized.	

At the fund level interest is recognized when due. At the government-wide level	
interest is accrued on outstanding debt. This is the current year change in accrual.	

(843,277)

Governmental funds report capital outlays as expenditures. However, in the	
Statement of Activities, the cost of those assets is allocated over their	
estimated useful lives as depreciation. This is the amount of depreciation	
in the current period.	(2,250,307)	

(6,394,000)

310,000

7,465,000

160,668

(6,830)

(319)

18,392

74,249

Change in Net Position of Governmental Activities	 $	(1,466,424)

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES – BUDGET AND ACTUAL – GENERAL FUND
For the Year Ended September 30, 2023

Variance with	
Final Budget	
Positive	
(Negative)	

Original	
Budget	

Final	
Budget	

Actual

Revenues	
Special assessments	
Investment income	
Total Revenues	

$  845,101

$  845,101

$  858,868

$	13,767

	3,750 		3,750 		66,783 		63,033 
	848,851 		848,851 		925,651 		76,800 

Expenditures	
Current	
General government	
Physical environment	
Capital outlay	
Total Expenditures	

109,916	
852,527	
    25,000 	
   987,443 	

109,916	
852,527	
    25,000 	
   987,443 	

85,989	
841,012	
       - 	
   927,001 	

23,927	
11,515	
     25,000 	
     60,442 	

Net Change in Fund Balances		(138,592)		(138,592)		(1,350)		137,242 	
Fund Balances - October 1, 2022		210,573 		210,573 	  1,664,966 		1,454,393 	
Fund Balances - September 30, 2023	 $	71,981 	 $	71,981 	 $1,663,616 	 $ 1,591,635 	

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements of the District have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The District's more significant accounting policies are described below.
Reporting Entity
The District was established on July 24, 2006, pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, (the "Act"), by Ordinance No. 06-26 and amended by Ordinance No. 2016-69, of the Board of County Commissioners of Osceola County, as a Community Development District. The District was established for the purposes of financing and managing the acquisition, construction, maintenance and operation of the infrastructure necessary for community development within its jurisdiction. The District is authorized to issue bonds for the purpose, among others, of financing, funding, planning, establishing, acquiring, constructing district roads, landscaping, and other basic infrastructure projects within or outside the boundaries of the Stoneybrook South Community Development District. The District is governed by a Board of Supervisors who are elected on an at large basis by the qualified electors within the District. The District operates within the criteria established by Chapter 190, Florida Statutes.
As required by GAAP, these financial statements present the Stoneybrook South Community Development District (the primary government) as a stand-alone government. The reporting entity for the District includes all functions of government in which the District’s Board exercises oversight responsibility including, but not limited to, financial interdependency, selection of governing authority, designation of management, significant ability to influence operations and accountability for fiscal matters.
Based upon the application of the above-mentioned criteria as set forth in Governmental Accounting Standards, the District has identified no component units.
Measurement Focus and Basis of Accounting

The basic financial statements of the District are composed of the following:
Government-wide financial statements
Fund financial statements
Notes to financial statements

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Measurement Focus and Basis of Accounting (Continued)

Government-wide Financial Statements
The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Government- wide financial statements report all non-fiduciary information about the reporting government as a whole. These statements include all the governmental activities of the primary government. The effect of interfund activity has been removed from these statements.
Governmental activities are supported by special assessments. Program revenues are netted with program expenses in the statement of activities to present the net cost of each program.

Amounts paid to acquire capital assets are capitalized as assets, rather than reported as an expenditure. Proceeds of long-term debt are recorded as liabilities in the government-wide financial statements, rather than as an other financing source.
Amounts paid to reduce long-term indebtedness of the reporting government are reported as a reduction of the related liability, rather than as an expenditure.
Fund Financial Statements

The underlying accounting system of the District is organized and operated on the basis of separate funds, each of which is considered to be a separate accounting entity. The operations of each fund are accounted for with a separate set of self- balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses, as appropriate. Governmental resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled.
Fund financial statements for the primary government’s governmental funds are presented after the government-wide financial statements. These statements display information about major funds individually.

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

2. Measurement Focus and Basis of Accounting (Continued)

b. Fund Financial Statements (Continued) Governmental Funds
The District reports fund balance according to Governmental Accounting Standards Board Statement 54 – Fund Balance Reporting and Governmental Fund Type Definitions. The Statement requires the fund balance for governmental funds to be reported in classifications that comprise a hierarchy based primarily on the extent to which the government is bound to honor constraints on the specific purposes for which amounts in those funds can be spent.

The District has various policies governing the fund balance classifications.

Nonspendable Fund Balance – This classification consists of amounts that cannot be spent because they are either not in spendable form or are legally or contractually required to be maintained intact.
Restricted Fund Balance – This classification includes amounts that can be spent only for specific purposes stipulated by constitution, external resource providers, or through enabling legislation.

Assigned Fund Balance – This classification consists of the Board of Supervisors’ intent to be used for specific purposes, but are neither restricted nor committed. The assigned fund balances can also be assigned by the District’s management company.
Unassigned Fund Balance – This classification is the residual classification for the government’s general fund and includes all spendable amounts not contained in the other classifications. Unassigned fund balance is considered to be utilized first when an expenditure is incurred for purposes for which amounts in any of those unrestricted fund balance classifications could be used.
Fund Balance Spending Hierarchy – For all governmental funds except special revenue funds, when restricted, committed, assigned, and unassigned fund balances are combined in a fund, qualified expenditures are paid first from restricted or committed fund balance, as appropriate, then assigned and finally unassigned fund balances.

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Measurement Focus and Basis of Accounting (Continued)

b. Fund Financial Statements (Continued) Governmental Funds (Continued)
Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are considered to be available when they are collected within the current period or soon thereafter, to pay liabilities of the current period. For this purpose, the District considers revenues to be available if they are collected within 60 days of the end of the current fiscal period.

Expenditures generally are recorded when a liability is incurred, as under accrual accounting. Interest associated with the current fiscal period is considered to be an accrual item and so has been recognized as revenue of the current fiscal period.
Under the current financial resources measurement focus, only current assets and current liabilities are generally included on the balance sheet. The reported fund balance is considered to be a measure of “available spendable resources”.

Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources and uses of “available spendable resources” during a period.
Because of their spending measurement focus, expenditure recognition for governmental fund types excludes amounts represented by non-current liabilities. Since they do not affect net current assets, such long-term amounts are not recognized as governmental fund type expenditures or fund liabilities.

Amounts expended to acquire capital assets are recorded as expenditures in the year that resources are expended, rather than as fund assets. The proceeds of long- term debt are recorded as an other financing source rather than as a fund liability.

Debt service expenditures are recorded only when payment is due.

Basis of Presentation
Governmental Major Funds

General Fund – The General Fund is the District’s primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund.

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Basis of Presentation (Continued)

Governmental Major Funds (Continued)

Debt Service Fund – The Debt Service Fund accounts for debt service requirements to retire Special Assessment Bonds, which were used to finance the construction of certain improvements within the District.

Non-current Governmental Assets/Liabilities

GASB Statement 34 requires that non-current governmental assets, such as infrastructure, and non-current governmental liabilities, such as general obligation bonds be reported in the governmental activities column in the government-wide Statement of Net Position.

Assets,	Deferred	Outflows	of	Resources,	Liabilities,	Deferred	Inflows	of Resources and Net Position
Cash and Investments

Florida Statutes require state and local governmental units to deposit monies with financial institutions classified as "Qualified Public Depositories," a multiple financial institution pool whereby groups of securities pledged by the various financial institutions provide common collateral from their deposits of public funds. This pool is provided as additional insurance to the federal depository insurance and allows for additional assessments against the member institutions, providing full insurance for public deposits.
The District is authorized to invest in those financial instruments as established by Section 218.415, Florida Statutes. The authorized investments consist of:
Direct obligations of the United States Treasury;

The Local Government Surplus Funds Trust or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperative Act of 1969;
Interest-bearing time deposits or savings accounts in authorized qualified public depositories;

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Assets,	Deferred	Outflows	of	Resources,	Liabilities,	Deferred	Inflows	of Resources and Net Position (Continued)
Cash and Investments (Continued)

Securities and Exchange Commission, registered money market funds with the highest credit quality rating from a nationally recognized rating agency.
Cash and cash equivalents include time deposits, certificates of deposit, money market funds, and all highly liquid debt instruments with original maturities of three months or less.
Restricted Assets
Certain net position of the District are classified as restricted assets on the Statement of Net Position because their use is limited either by law through constitutional provisions or enabling legislation; or by restrictions imposed externally by creditors. In a fund with both restricted and unrestricted net position, qualified expenses are considered to be paid first from restricted net position and then from unrestricted net position.
Capital Assets
Capital assets, which include infrastructure, are reported in the governmental activities column.
The District defines capital assets as assets with an initial, individual cost of $5,000 or more and an estimated useful life in excess of one year. The valuation basis for all assets is historical cost.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend its useful life are not capitalized.
Major outlays for capital assets and improvements are capitalized as projects are constructed.
Depreciation of capital assets is computed and recorded by utilizing the straight-line method over the assets’ estimated useful lives ranging from 15 to 25 years.

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

4. Assets,	Deferred	Outflows	of	Resources,	Liabilities,	Deferred	Inflows	of Resources and Net Position (Continued)

Deferred Inflows of Resources
Deferred inflows of resources represent an acquisition of net position that applies to a future reporting period(s) and so will not be recognized as an inflow of resources (revenue) until then. The District only has one item that qualifies for reporting in this category. Deferred gain on refunding is reported only at the government-wide level. This amount is deferred and recognized as an inflow of resources in the period that amounts become available.

Bond Discounts
Bond discounts associated with the issuance of bonds are amortized over the life of the bonds using the straight-line method of accounting.

Budgets
Budgets are prepared and adopted after public hearings for the governmental funds, pursuant to Chapter 190, Florida Statutes. The District utilizes the same basis of accounting for budgets as it does for revenues and expenditures in its various funds. The legal level of budgetary control is at the fund level. All budgeted appropriations lapse at year end. Formal budgets are adopted for the general and debt service funds. As a result, deficits in the budget columns of the accompanying financial statements may occur.

NOTE	B	–		RECONCILIATION	OF	GOVERNMENT-WIDE	AND	FUND	FINANCIAL STATEMENTS
Explanation of Differences Between the Governmental Fund Balance Sheet and the Government-wide Statement of Net Position
“Total fund balances” of the District’s governmental funds, $3,690,094, differs from “net position” of governmental activities, $15,617,571, reported in the Statement of Net Position. This difference primarily results from the long-term economic focus of the Statement of Net Position versus the current financial resources focus of the governmental fund balance sheet. The effect of the differences is illustrated on the following page.

NOTE	B	–		RECONCILIATION	OF	GOVERNMENT-WIDE	AND	FUND	FINANCIAL STATEMENTS (CONTINUED)
Explanation of Differences Between the Governmental Fund Balance Sheet and the Government-wide Statement of Net Position (Continued)
Capital related items
When capital assets (land, buildings and improvements, infrastructure and equipment that are to be used in governmental activities) are purchased or constructed, the cost of those assets is reported as expenditures in governmental funds. However, the Statement of Net Position included those capital assets among the assets of the District as a whole.

Infrastructure	$ 45,645,737	
Accumulated depreciation	  (14,134,076)	
Total	$ 31,511,661 	
Long-term debt transactions
Long-term liabilities applicable to the District’s governmental activities are not due and payable in the current period and accordingly are not reported as fund liabilities. All liabilities (both current and long-term) are reported in the Statement of Net Position. Balances at September 30, 2023 were:

Bonds payable	$ (19,054,000)	
Bond discount, net		143,995 	
Total	$ (18,910,005)	

Deferred amount on refunding

The difference between the outstanding balance of the old debt and the cost of the new debt is a deferred inflow/outflow of resources. This balance is amortized over the life of the new debt. The unamortized balance is reflected as deferred amount on refunding and deferred gain on refunding.

Deferred gain on refunding, net	$	(261,256)

Accrued interest

Accrued liabilities in the Statement of Net Position differ from the amount reported in governmental funds due to the accrued interest on bonds.
Accrued interest	$	(412,923)

NOTE	B	–		RECONCILIATION	OF	GOVERNMENT-WIDE	AND	FUND	FINANCIAL STATEMENTS (CONTINUED)
Explanation of Differences Between the Governmental Fund Operating Statements and the Statement of Activities
The “net change in fund balances” for government funds, $(843,277), differs from the “change in net position” for governmental activities, $(1,466,424), reported in the Statement of Activities. The differences arise primarily from the long-term economic focus of the Statement of Activities versus the current financial resources focus of the governmental funds. The effect of the differences is illustrated below:
Capital related items
When capital assets that are to be used in governmental activities are purchased or constructed, the resources expended for those assets are reported as expenditures in governmental funds. However, in the Statement of Activities, the costs of those assets is allocated over their estimated useful lives and reported as depreciation. As a result, fund balances decrease by the amount of financial resources expended, whereas net position decrease by the amount of depreciation charged for the year.
Depreciation	$	(2,250,307)
Long-term debt transactions

Issuance of refunding debt	$  (6,394,000)	
Debt principal payments	$	310,000	
Refunded payment to escrow agent	$	7,465,000	
Change in deferred amount on refunding	$	(19,091)	
Change in deferred gain on refunding	$	179,759	
Some expenses reported in the Statement of Activities do not require the use of current financial resources, therefore, are not reported as expenditures in governmental funds.
Change in accrued interest	$	74,249
Amortization of the bond discount, deferred amount on refunding and deferred gain on refunding do not require the use of current resources and therefore is not reported in the governmental funds.

Amortization of bond discount	$	(6,830)	
Amortization of deferred amount on refunding	(319)	
Amortization of deferred gain on refunding		18,392	
Total	$	11,243	

NOTE C – CASH AND INVESTMENTS

All deposits are held in qualified public depositories and are included on the accompanying balance sheet as cash and investments.
Custodial Credit Risk – Deposits
Custodial credit risk is the risk that in the event of a bank failure, the District's deposits may not be returned to it. The District does not have a formal deposit policy for custodial credit risk, however, they follow the provisions of Chapter 280, Florida Statutes regarding deposits and investments. As of September 30, 2023, the District's bank balance was $480,888 and the carrying value was $455,052. Exposure to custodial credit risk was as follows. The District maintains all deposits in a qualified public depository in accordance with the provisions of Chapter 280, Florida Statutes, which means that all deposits are fully insured by Federal Depositors Insurance or collateralized under Chapter 280, Florida Statutes.

Investments

As of September 30, 2023, the District had the following investments and maturities:

Investment	Maturity Date	 Fair Value 	

First American Treasury Obilgations	15 days*	$ 1,798,320	
First American Government Obilgations	24 days*	213,508	
Florida PRIME	35 days*		1,199,910 	
Total		 $ 3,211,738 	

*Weighted average maturity

The District categorizes its fair value measurements within the fair value hierarchy recently established by generally accepted accounting principles. The fair value is the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. The District uses a market approach in measuring fair value that uses prices and other relevant information generated by market transactions involving identical or similar assets, liabilities, or groups of assets and liabilities.
Assets or liabilities are classified into one of three levels. Level 1 is the most reliable and is based on quoted price for identical assets, or liabilities, in an active market. Level 2 uses significant other observable inputs when obtaining quoted prices for identical or similar assets, or liabilities, in markets that are not active. Level 3 is the least reliable and uses significant unobservable inputs that use the best information available under the circumstances, which includes the District’s own data in measuring unobservable inputs.

Based on the criteria in the preceding paragraph, the investment in First American Treasury Obligations and First American Government Obligations are Level 1 assets.

NOTE C – CASH AND INVESTMENTS (CONTINUED)
Investments (Continued)
The District’s investment policy allows management to invest in investments permitted under Section 218.415, Florida Statutes. The investment in Florida PRIME is measured at amortized cost. Florida PRIME has established policies and guidelines regarding participant transactions and the authority to limit or restrict withdrawals or impose a penalty for an early withdrawal. As of September 30, 2023, there were no redemption fees, maximum transaction amounts, or any other requirements that would limit daily access to 100 percent of the account value.
Interest Rate Risk
The District does not have a formal investment policy that limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates.
Credit Risk
The District's investments are limited by state statutory requirements and bond compliance. The District has no investment policy that would further limit its investment choices. As of September 30, 2023, all of the District’s investments were rated AAAm by Standard & Poor’s.
Concentration of Credit Risk
The District places no limit on the amount it may invest in any one fund. The investments in First American Treasury Obligations funds represent 56% of the District's total investments. The investments in Florida PRIME are 37% of the District’s total investments. The investments in First American Government Obligations funds represent 7% of the District’s total investments.
The types of deposits and investments and their level of risk exposure as of September 30, 2023 were typical of these items during the fiscal year then ended.
NOTE D – SPECIAL ASSESSMENT REVENUES
Assessments are non-ad valorem assessments on benefitted property within the District. Operating and Maintenance Assessments are based upon adopted budget and levied annually. Debt Service Assessments are levied when bonds are issued and collected annually for the term of the bond. The District may collect assessments directly or utilize the uniform method of collection (Chapter 197.3632, Florida Statutes). Directly 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 all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. All other revenue items are considered to be measurable and available only when cash is received by the government.

NOTE E – CAPITAL ASSETS
Capital asset activity for the year ended September 30, 2023 was as follows:

Balance	Balance
October 1,	September 30,
2022	Additions	Deletions	2023
Governmental Activities:
Capital assets, being depreciated:		
Infrastructure	$ 45,645,737		$	-		$	-		$ 45,645,737	
Less accumulated depreciation for:								
Infrastructure	(11,883,769)		(2,250,307)		-		(14,134,076)	
Governmental Activities Capital Assets	 $ 33,761,968 		 $ (2,250,307)		 $	- 		 $ 31,511,661 	

Depreciation of $2,250,307 was charged to physical environment.

NOTE F – LONG-TERM DEBT
Governmental Activities
The following is a summary of activity for long-term debt of the Governmental Activities for the year ended September 30, 2023:
Long-term debt at October 1, 2022	$  20,435,000

Issuance of long-term refunding debt	6,394,000	
Payments to refunding escrow agent	(7,465,000)	
Principal payments		(310,000)	
Long-term debt at September 30, 2023	$ 19,054,000 Less: bond discount, net		(143,995)
Total Long-term Debt, Net at September 30, 2023	$  18,910,005

NOTE F – LONG-TERM DEBT (CONTINUED)
Long-term debt for Governmental Activities is comprised of the following: Special Assessment Bonds
$14,785,000 Series 2014 Special Assessment Bonds due in annual principal installments maturing November 2044. Interest is due semi-annually on May 1 and November 1 with a various fixed interest rates between 4.75% and 5.5%. Current portion is
$325,000.	$   12,660,000

Special Assessment Refunding Bonds

$6,394,000 Series 2023 Special Assessment Refunding Bonds due in annual principal installments maturing May 2039. Interest is due semi-annually on May 1 and November 1, at a fixed rate
of 4.95%. Current portion is $272,000.		6,394,000

Bond payable	19,054,000

Bond discount, net		(143,995)

Bonds Payable, Net	$	18,910,005 
The annual requirements to amortize the principal and interest of bonded debt outstanding as of September 30, 2023 are as follows:

Year Ending
	September 30,		
	Principal		
	Interest		
	Total		
2024	$	597,000	$	983,297	$	1,580,297	
2025	624,000	954,039	1,578,039	
2026	651,000	922,809	1,573,809	
2027	681,000	889,579	1,570,579	
2028	719,000	854,710	1,573,710	
2029-2033	4,184,000	3,683,235	7,867,235	
2034-2038	5,370,000	2,486,642	7,856,642	
2039-2043	4,388,000	1,082,356	5,470,356	
2044-2045		1,840,000 		102,575 		1,942,575 	
Totals	 $	19,054,000 	 $	11,959,242 	 $ 31,013,242 	

In February 2023, the District issued $6,394,000 of Series 2023 Special Assessment Refunding Bonds which retire the Series 2013 Special Assessment Refunding Bonds. As a result of this transaction, the District decreases its aggregate debt payment by $1,205,395 over the next 16 years and realized an economic gain of approximately $435,620.

NOTE F – LONG-TERM DEBT (CONTINUED)
Summary of Significant Bond Resolution Terms and Covenants
The District levies special assessments pursuant to Section 190.022, Florida Statutes and the assessment rolls are approved by resolutions of the District Board. The collections are to be strictly accounted for and applied to the debt service of the bond series for which they were levied. The District covenants to levy special assessments in annual amounts adequate to provide for payment of principal and interest on the bonds. However, payment of principal and interest is dependent on the money available in the debt service fund and the District’s ability to collect special assessments levied.
The bonds are subject to extraordinary mandatory redemption prior to maturity, in whole on any date, or in part on an interest payment date, without premium, together with accrued interest to the redemption date if monies are available to retire the debt in accordance with the provisions of the indenture.
The bond resolution and the trust indenture provide for the establishment of certain accounts and an order in which revenues are to be deposited into these accounts. The accounts include a construction, revenue, redemption, reserve, interest and prepayment account and are maintained by a trustee.
The bond indenture provides for Debt Service Reserve Funds, which shall be held by the Trustee separate and apart from all other funds. The following is a schedule of reserve requirements and balances in the reserve accounts at September 30, 2023:

The following is a schedule of required reserve deposits as of September 30, 2023:

Reserve	Reserve
	Balance	  Requirement 

Series 2014 Special Assessment Bonds

$	602,712	$

600,000

NOTE G – ACQUISITION AGREEMENT
During the year ended September 30, 2014, the District agreed, in substantial form, to an acquisition agreement with the Developer. The acquisition agreement includes a promissory note for amounts necessary to complete the project that are in addition to the construction funds received relating to the issuance of the Series 2014 Bonds, in the event that the District issues additional bonds. The District Engineer estimated the construction costs of Assessment Area 2‐A to be $17,895,000 and the funds deposited in the construction account relating to the Series 2014 bond issue amount to be $13,822,005, a difference of $4,072,995. Accordingly, the promissory note is estimated to be valued at approximately $4.1 million; however, the note is only payable from the issuance of additional bonds for Assessment Area 2, which the District is not obligated to issue. Accordingly, no liability has been recorded.

NOTE H – 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 for which the government carries commercial insurance. Settled claims from these risks have not exceeded commercial insurance coverage over the past three years.

INDEPENDENT AUDITORS’ 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
Stoneybrook South 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, as listed in the table of contents, of Stoneybrook South Community Development District, as of and for the year ended September 30, 2023, and the related notes to the financial statements, which collectively comprise the basic financial statements and have issued our report thereon dated December 9, 2024.

Report on Internal Control Over Financial Reporting
In planning and performing our audit, we considered Stoneybrook South Community Development District's internal control over financial reporting (internal control) as a basis for designing 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 Stoneybrook South Community Development District’s internal control. Accordingly, we do not express an opinion on the effectiveness of Stoneybrook South Community Development 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 combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that have not been identified.

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To the Board of Supervisors
Stoneybrook South Community Development District

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether Stoneybrook South Community Development District's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant 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.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida December 9, 2024

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MANAGEMENT LETTER
To the Board of Supervisors
Stoneybrook South Community Development District Osceola County, Florida
Report on the Financial Statements
We have audited the financial statements of the Stoneybrook South Community Development District as of and for the year ended September 30, 2023, and have issued our report thereon dated December 9, 2024.
Auditor’s Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States and Chapter 10.550, Rules of the Florida Auditor General.
Other Reporting Requirements
We have issued our Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards and our Independent Auditor’s Report on an examination conducted in accordance with AICPA Professionals 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 December 9, 2024, should be considered in conjunction with this management letter.
Prior Audit Findings
Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding financial audit report. There were no findings or recommendations in the preceding financial audit report.
Financial Condition and Management
Section 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, require us to apply appropriate procedures and communicate the results of our determination as to whether or not Stoneybrook South Community Development District has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific conditions met. In connection with our audit, we determined that Stoneybrook South Community Development District did not meet any of the conditions described in Section 218.503(1), Florida Statutes.

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To the Board of Supervisors
Stoneybrook South Community Development District
Pursuant to Sections 10.554(1)(i)5.b. and 10.556(8), Rules of the Auditor General, we applied financial condition assessment procedures for Stoneybrook South Community Development District. It is management’s responsibility to monitor the Stoneybrook South Community Development District’s financial condition; our financial condition assessment was based in part on the representations made by management and the review of the financial information provided by the same.
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations.
Specific Information
The information below was provided by management and has not been audited by us; therefore, we do not express an opinion or provide any assurance on the information.
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor General, Stoneybrook South Community Development District reported:

The total number of District employees compensated in the last pay period of the District’s fiscal year: 0
The total number of independent contractors to whom nonemployee compensation was paid in the last month of the District’s fiscal year: 6
All compensation earned by or awarded to employees, whether paid or accrued, regardless of contingency: $5,171.60
All compensation earned by or awarded to nonemployee independent contractors, whether paid or accrued, regardless of contingency: $430,840.18
Each construction project with a total cost of at least $65,000 approved by the District that is scheduled to begin on or after October 1, 2022, together with the total expenditures for such project: N/A
A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes, before the beginning of the fiscal year being reported if the District amends a final adopted budget under Section 189.016(6), Florida Statutes: The District did not amend the original budget.
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)8, Rules of the Auditor General, the Stoneybrook South Community Development District reported:
The rate or rates of non-ad valorem special assessments imposed by the District. The General Fund assessment was $11.50 – $1,097.44 and the Debt Service assessment was $150.00 - $1,718.75.
Total special assessments collected was $2,675,379.
The total amount of outstanding bonds issued by the District and the terms of such bonds. The District had outstanding bonds at September 30, 2023 Series 2014 Bonds,
$12,600,000, maturing in November 2044 and $6,394,000 of Series 2023 Bonds maturing in May 2039.

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To the Board of Supervisors
Stoneybrook South Community Development District
Additional Matters
Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate 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 warrants the attention of those charged with governance. In connection with our audit, we did not note any such findings.
Purpose of this Letter

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, the Board of Supervisors, and applicable management, and is not intended to be and should not be used by anyone other than these specified parties.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida December 9, 2024

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INDEPENDENT ACCOUNTANTS’ REPORT/COMPLIANCE WITH SECTION 218.415, FLORIDA STATUTES

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

We have examined Stoneybrook South Community Development District's compliance with Section 218.415, Florida Statutes during the year ended September 30, 2023. Management is responsible for Stoneybrook South Community Development District’s compliance with those requirements. Our responsibility is to express an opinion on Stoneybrook South Community Development 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 and, accordingly, included examining, on a test basis, evidence about Stoneybrook South Community Development District’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on Stoneybrook South Community Development District’s compliance with the specified requirements.

In our opinion, Stoneybrook South Community Development District complied, in all material respects, with the aforementioned requirements during the year ended September 30, 2023.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida December 9, 2024

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Section V

Section D

1

Stoneybrook South
Community Development District

February 3, 2025
Alan Scheerer - Field Services Manager
GMS

Stoneybrook South CDD Field Management Report | GMS 2025

2

Architectural Fountain

Stoneybrook South Community Development District

Field Management Report February 3, 2025

To:	Jeremy LeBrun District Manager
From:	Alan Scheerer
Field Services Manager

RE:	Stoneybrook South CDD- February 3, 2025
The following is a summary of items related to the field operations and management of Stoneybrook South Community Development District.

Architectural fountain: The upper part of the fountain is not working as of this report.

Stoneybrook South CDD Field Management Report | GMS 2025

Irrigation

Irrigation inspections are ongoing. Repairs as needed.

Champions Gate letters are all working as of this report.

All fountain working as of this report.

Landscaping at the entrances look good.

Staff meeting with Flora Lawn each week. The landscape provider is in the winter mow schedule of every other week mowing.

Irrigation inspections and repairs on going. Ponds being disked monthly per the contract.
Wet ponds are being treated and looking good. Warmer weather will bring on the occasional algae bloom. Contractor will treat as needed.
Palm tree pruning complete. New Annuals installed.
Mulch installed.
The traffic circle concrete is being pressure washed.
All fountains are working at the time of this report. We will monitor them weekly. Ponds disked monthly. Flora Lawn directed to pick up all trash prior to disking.
Architectural fountain pump is not working. The pump that controls the upper part of the fountain was pulled and is being evaluated by the fountain contractor.
The landscape lights and tower light inspection are ongoing. Staff gearing up for budget season already.

For any questions or comments regarding the above information, please contact me by phone at 407-398-2890, or by email at ascheerer@gmscfl.com Thank you.

Respectfully, Alan Scheerer

Section 1

7628 NW 6th Ave, Boca Raton F1,333487
(561)994-3939
jeannie@cascadefountains.com

Repair Quote

Date: 01/28/2025 Quote#: 735

Property Details:
STONEYBROOK SOUTH CDD
1520 Oasis Club Blvd, FL 33896, USA Davenport , Florida , United States

STONEYBROOK SOUTH CDD STONEYBROOK SOUTH CDD c/o GMS 1408 HAMLIN AVENUE, UNIT E ST. CLOUD, FL. 34771
ST. CLOUD , , USA

Scope of Work:

Our technician pulled the pump from the fountain and returned it to the shop for Diagnoses. They fountains that the pump will need a new impellor, bearings, and seals installed in the pump. Once repairs are completed they will return the pump to the fountain, reinstall in pit, and restart fountain.

Quantity	Description	Unit Price	Total

$ 4141.20	$ 4141.20	
$ 465.00	$ 465.00	
Sub Total:	$ 4606.20	
Discount:	$ 0	
Quote Total	$ 4606.20	

1	Pump Repair
New Bearings, Seals, and Impellor installed
1	Labor
Labor to repair pump and reinstall in fountain

Remarks: *Per the manufacture it will take 3-4 weeks to receive the new impellor from the date of approval.

Respectfully Submitted by, Fountain Design Group
Acceptance of Proposal: The above price,specifications, and conditions are satisfactory and are hereby accepted. Fountain Design Group,Inc. is authorized to complete the work as specified.

Signature:	Date of Acceptance

Conditions: All work is to be completed in a workmanlike manner. Any alteration from specifications involving extra costs will be executed only upon written approval from the client, and will become an additional charge from the approved amount.