LIVE OAK NO. 1 COMMUNITY DEVELOPMENT DISTRICT

December 17, 2019 AGENDA PACKAGE

Live Oak No. 1 Community Development District

Inframark, Infrastructure Management Services
210 North University Drive Suite 702, Coral Springs, Florida 33071 Phone: 954-603-0033 Fax: 954-345-1292

December 10, 2019 Board of Supervisors
Live Oak No. 1 Community Development District

Dear Board Members:

The meeting of the Board of Supervisors of the Live Oak No. 1 Community Development District will be held Tuesday, December 17, 2019 at 10:00 a.m. at the Live Oak Clubhouse, 9401 Oak Preserve Boulevard, Tampa, Florida. Following is the advanced agenda for the meeting:

Call to Order

Public Comments on Agenda Items

Consent Agenda
Approval of the Minutes of the October 15, 2019 Meeting
Approval of the Financial Statements
Staff Reports
Attorney
Engineer

Supervisors’ Requests

Audience Comments

Adjournment

Any additional supporting material not included in the agenda package for the items listed will be distributed at the meeting. The balance of the agenda is routine in nature. If you have any questions, please contact me.

Sincerely,

Andrew P. Mendenhall, PMP

District Manager

Third Order of Business

3A.

MINUTES OF MEETING LIVE OAK NO. 1
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Live Oak No. 1 Community Development District was held on Tuesday, October 15, 2019 at 10:00 a.m. in the Live Oak Clubhouse, 9401 Oak Preserve Boulevard, Tampa, Florida.
Present and Constituting a Quorum were:

Michael Ceparano	Chairman
Sheldon Cohen	Vice Chairman
Nilesh Patel	Assistant Secretary
Jim Hurley	Assistant Secretary

Also present:
Andrew P. Mendenhall	District Manager
Vincent Galiano	District Engineer Residents
The following is a summary of the minutes and actions taken.
FIRST ORDER OF BUSINESS	Call to Order and Roll Call SECOND ORDER OF BUSINESS	Public Comments on Agenda Items
None.

THIRD ORDER OF BUSINESS	Consent Agenda
Approval of the Minutes of the August 20, 2019 Meeting
Approval of the Financial Statements
Consideration of FY 2019 Audit Engagement Letter
Consideration of Motion Assigning Fund Balance

ON MOTION by Mr. Ceparano seconded by Mr. Ceparano with all in favor, the Consent Agenda was approved. 4-0

FOURTH ORDER OF BUSINESS	Staff Reports

Manager
Attorney

October 15, 2019	Live Oak 1 CDD

Engineer
Mr. Galiano noted based on the plats the information he has, maintenance of the South commercial sidewalks are the responsibility of the lot owner.
SIXTH ORDER OF BUSINESS	Supervisors’ Request
Question in regard to the Fountain repairs arose.

ON MOTION by Mr. Hurley seconded by Mr. Cohen with all in favor, Fountain Repairs in an amount not to exceed $3,3777 were approved. 4-0

SEVENTH ORDER OF BUSINESS	Audience Comments
None.

EIGHTH ORDER OF BUSINESS	Adjournment

On MOTION by Mr. Patel seconded by Ms. Cohen with all in favor, the meeting was adjourned. 4-0

Michael Ceparano
Chairman

2
Unapproved

3B.

LIVE OAK NO. 1
Community Development District

Financial Report

November 30, 2019

LIVE OAK NO. 1
Community Development District

Table of Contents

FINANCIAL STATEMENTS

Balance Sheet	Page 1

Statement of Revenues, Expenditures and Changes in Fund Balances

General Fund	Pages 2 - 3

Debt Service Fund	Page 4

SUPPORTING SCHEDULES

Non-Ad Valorem Special Assessments	Page 5

Cash & Investment Report	Page 6

Bank Reconciliation	Page 7

Payment Register by Bank Account	Pages 8 - 9

LIVE OAK NO. 1
Community Development District

Financial Statements
(Unaudited)

November 30, 2019

Community Development District

Governmental Funds

Balance Sheet
November 30, 2019

ACCOUNT DESCRIPTION

GENERAL FUND

SERIES 2013 DEBT SERVICE
FUND	TOTAL

ASSETS

Cash - Checking Account	$	133,609	$	-	$	133,609	
Due From Other Funds	-	57,382	57,382	
Investments:				
Certificates of Deposit - 12 Months	350,000	-	350,000	
Certificates of Deposit - 6 Months	872,380	-	872,380	
Money Market Account	386,457	-	386,457	
Reserve Fund	-	43,917	43,917	
Revenue Fund	-	135,361	135,361	
Utility Deposits - TECO	1,375	-	1,375	
TOTAL ASSETS	$ 1,743,821	$	236,660	$ 1,980,481	

LIABILITIES				
Accounts Payable	$	11,052	$	-	$	11,052	
Accrued Expenses	1,988	-	1,988	
Due To Other Funds	57,382	-	57,382	
TOTAL LIABILITIES	70,422	-	70,422	

FUND BALANCES				
Nonspendable:				
Deposits	1,375	-	1,375	
Restricted for:				
Debt Service	-	236,660	236,660	
Assigned to:				
Operating Reserves	65,647	-	65,647	
Reserves - Infrastructure	297,500	-	297,500	
Reserves - Ponds	1,153,210	-	1,153,210	
Unassigned:	155,667	-	155,667	
TOTAL FUND BALANCES	$ 1,673,399	$	236,660	$ 1,910,059	
				
TOTAL LIABILITIES & FUND BALANCES	$ 1,743,821	$	236,660	$ 1,980,481	

Page 1

Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending November 30, 2019

ANNUAL ADOPTED
ACCOUNT DESCRIPTION	BUDGET	
YEAR TO DATE BUDGET	
YEAR TO DATE ACTUAL	
VARIANCE ($) FAV(UNFAV)	YTD ACTUAL AS A % OF
ADOPTED BUD	
NOV-19 ACTUAL	

REVENUES						

Interest - Investments	
$	7,500	
$	1,250	
$	827	
$	(423)	
11.03%	
$	388	
Special Assmnts- Tax Collector	456,918	109,066	54,620	(54,446)	11.95%	54,620	
Special Assmnts- Discounts	(18,277)	(4,363)	(2,207)	2,156	12.08%	(2,207)	
TOTAL REVENUES	446,141	105,953	53,240	(52,713)	11.93%	52,801	

EXPENDITURES							

Administration							
P/R-Board of Supervisors	8,000	1,000	600	400	7.50%	-	
FICA Taxes	612	153	46	107	7.52%	-	
ProfServ-Arbitrage Rebate	600	-	-	-	0.00%	-	
ProfServ-Engineering	11,000	1,834	889	945	8.08%	889	
ProfServ-Legal Services	4,000	666	868	(202)	21.70%	150	
ProfServ-Mgmt Consulting Serv	48,228	8,038	8,038	-	16.67%	4,019	
ProfServ-Special Assessment	12,500	-	-	-	0.00%	-	
ProfServ-Trustee Fees	2,694	1,250	1,235	15	45.84%	-	
Auditing Services	5,023	-	-	-	0.00%	-	
Postage and Freight	230	40	8	32	3.48%	5	
Insurance - General Liability	7,596	7,596	4,500	3,096	59.24%	-	
Insurance - Vehicle	-	-	500	(500)	0.00%	-	
Public Officials Insurance	-	-	2,000	(2,000)	0.00%	-	
Printing and Binding	200	34	40	(6)	20.00%	40	
Legal Advertising	700	-	-	-	0.00%	-	
Misc-Bank Charges	300	50	73	(23)	24.33%	37	
Misc-Assessmnt Collection Cost	9,138	2,181	1,048	1,133	11.47%	1,048	
Misc-Web Hosting	1,000	167	46	121	4.60%	-	
Office Supplies	50	8	-	8	0.00%	-	
Annual District Filing Fee	175	175	175	-	100.00%	-	
Total Administration	112,046	23,192	20,066	3,126	17.91%	6,188	

Field
Contracts-Landscape	

55,920	

9,320	

9,320	

-	

16.67%	

4,660	
Contracts-Lakes	21,492	3,582	3,582	-	16.67%	1,791	
Electricity - General	8,757	1,460	1,470	(10)	16.79%	735	
Electricity - Streetlighting	27,873	4,646	3,975	671	14.26%	1,988	
R&M-Irrigation	500	-	-	-	0.00%	-	
R&M-Wetland Monitoring	15,000	2,500	-	2,500	0.00%	-	
Misc-Hurricane Expense	3,000	-	-	-	0.00%	-	
Misc-Contingency	18,001	2,500	1,505	995	8.36%	-	
Reserve - Ponds	183,552	-	-	-	0.00%	-	
Total Field	334,095	24,008	19,852	4,156	5.94%	9,174	
							
TOTAL EXPENDITURES	446,141	47,200	39,918	7,282	8.95%	15,362	

Page 2

Statement of Revenues, Expenditures and Changes in Fund Balances

ACCOUNT DESCRIPTION	ANNUAL ADOPTED
BUDGET		
YEAR TO DATE BUDGET	
YEAR TO DATE ACTUAL	
VARIANCE ($) FAV(UNFAV)	YTD ACTUAL AS A % OF
ADOPTED BUD	
NOV-19 ACTUAL	

Excess (deficiency) of revenues Over (under) expenditures			

58,753	

13,322	

(45,431)	

0.00%	

37,439	

Net change in fund balance	
$	
$	58,753	
$	13,322	
$	(45,431)	
0.00%	
$	37,439	

FUND BALANCE, BEGINNING (OCT 1, 2019)	
1,660,077	
1,660,077	
1,660,077				
FUND BALANCE, ENDING	$	1,660,077	$	1,718,830	$	1,673,399				

For the Period Ending November 30, 2019

-

-

Page 3

Community Development District	Series 2013 Debt Service Fund

Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending November 30, 2019

ANNUAL				YTD ACTUAL		
ADOPTED	YEAR TO DATE	YEAR TO DATE	VARIANCE ($)	AS A % OF	NOV-19	
ACCOUNT DESCRIPTION	BUDGET	BUDGET	ACTUAL	FAV(UNFAV)	ADOPTED BUD	ACTUAL	

REVENUES

Interest - Investments	$	-	$	-	$	607	$	607	0.00%	$	295	
Special Assmnts- Tax Collector	477,357	113,945	57,064	(56,881)	11.95%	57,064	
Special Assmnts- Discounts	(19,094)	(4,558)	(2,306)	2,252	12.08%	(2,306)	
TOTAL REVENUES	458,263	109,387	55,365	(54,022)	12.08%	55,053	

EXPENDITURES

Administration
Misc-Assessmnt Collection Cost	9,547	

2,279	

1,095	

1,184	

11.47%	

1,095	
Total Administration	9,547	2,279	1,095	1,184	11.47%	1,095	

Debt Service
Principal Debt Retirement	

270,000	

-	

-	

-	

0.00%	

-	
Interest Expense	170,451	85,226	85,226	-	50.00%	85,226	
Total Debt Service	440,451	85,226	85,226	-	19.35%	85,226	

TOTAL EXPENDITURES	449,998	87,505	86,321	1,184	19.18%	86,321

Excess (deficiency) of revenues
Over (under) expenditures	8,265	21,882	(30,956)	(52,838)	n/a	(31,268)

OTHER FINANCING SOURCES (USES)

Contribution to (Use of) Fund Balance	8,265	-	-	-	0.00%	-	
TOTAL FINANCING SOURCES (USES)	8,265	-	-	-	0.00%	-	

Net change in fund balance	
$	8,265	
$	21,882	
$	(30,956)	
$	(52,838)	
n/a	
$	(31,268)	

FUND BALANCE, BEGINNING (OCT 1, 2019)	
267,616	
267,616	
267,616				
FUND BALANCE, ENDING	$	275,881	$	289,498	$	236,660				

Page 4

LIVE OAK NO. 1
Community Development District

Supporting Schedules

November 30, 2019

LIVE OAK NO. 1
Community Development District

Non-Ad Valorem Special Assessments
(Hillsborough County Tax Collector - Monthly Collection Distributions) For the Fiscal Year Ending September 30, 2020

	Allocation By Fund	

Date Received	Discount /	Gross
Net Amt	(Penalties)	Tax Coll		Amount Rcvd		Amount		Cost	Received	
General	
Debt Service	
Assmts Levied	$	934,275	$	456,918	$	477,357	
Allocation %	100%	49%	51%	
11/05/19	$	12,484	$	619	$	255	$	13,357	$	6,532	$	6,825	
11/15/19	46,492	1,977	949	49,417	24,168	25,249	
11/22/19	46,052	1,918	940	48,910	23,920	24,990	
TOTAL	$	105,027	$	4,513	$	2,143	$	111,684	54,620	57,064	

% COLLECTED	12%	12%	12%	
TOTAL O/S	$	822,592	$	402,298	$	420,294	

Report Date: 12/5/2019	Prepared by:
Inframark Infrastructure Management Services	Page 5

LIVE OAK NO. 1					All Funds	
Community Development District						

Cash and Investment Report					
	November 30, 2019					
General Fund						
Account Name	Bank Name	Investment Type	Maturity	Yield		Balance	
Checking Account-Operating	SunTrust	Public Funds Analyzed Checking		0.00%	$	133,609	
Certificate of Deposit	BankUnited	12 Months CD - #4676	02/14/20	2.74%		350,000	

Subtotal	350,000	

Certificate of Deposit	
BankUnited	
6 Months CD - #6093	
03/12/20	
1.80%	

104,412	
Certificate of Deposit	BankUnited	6 Months CD - #4677	02/15/20	2.00%	353,797	
Certificate of Deposit	BankUnited	6 Months CD - #9092	01/30/20	2.10%	204,972	
Certificate of Deposit	BankUnited	6 Months CD - #9026	12/06/19	2.42%	209,199	

Subtotal	872,380	

Public Funds MMA Variance Account	
BankUnited	
MMA - #0216	
1.35%		
386,457	
			Subtotal		386,457	
			
GF Subtotal	
$	
1,742,446	

Debt Service Funds				

Account Name	
Bank Name	
Investment Type	
Yield	
Balance	
Series 2013 Reserve Fund	US Bank	US Bank Open Ended CP	1.30%	$	43,917	
Series 2013 Revenue Fund	US Bank	US Bank Open Ended CP	1.30%	135,361	
	DS Subtotal	$	179,278	
			
	Total	$ 1,921,724	

Report Date: 12/5/2019	Prepared By:
Inframark	Page 6

Bank Reconciliation

Bank Account No.	9542	SunTrust Bank N.A. - GF				
Statement No.	11-19					
Statement Date	11/30/2019					

G/L Balance (LCY)	
133,608.74		
Statement Balance	
135,566.77		
G/L Balance	133,608.74		Outstanding Deposits	0.00			
Positive Adjustments	0.00			

		Subtotal	135,566.77			
Subtotal	133,608.74		Outstanding Checks	1,958.03			
Negative Adjustments	0.00		Differences	0.00			

Ending G/L Balance	
133,608.74		
Ending Balance	
133,608.74			

Difference	
0.00						

Posting	Document
Date	Type	
Document No.	

Description		

Amount	
Cleared Amount	

Difference	

Outstanding Checks

10/15/2019	Payment	003952	JAMES W. HURLEY	183.87	0.00	183.87	
11/25/2019	Payment	003960	KING ENGINEERING ASSOCIATES, I	889.00	0.00	889.00	
11/25/2019	Payment	003961	STRALEY ROBIN VERICKER	150.00	0.00	150.00	
11/27/2019	Payment	003962	TAMPA ELECTRIC	735.16	0.00	735.16	

Total  Outstanding  Checks......................................................................................................................	1,958.03	1,958.03

Page 7

Page 8

Payment Register by Bank Account   For the Period from 10/01/2019 to 11/30/2019 (Sorted by Check / ACH No.)

Pymt Type	Check / ACH No.	
Date	Payee Type	
Payee	
Invoice No.	
Payment Description	
Invoice / GL Description	
G/L Account #	Amount Paid	

Agenda Page 19

SUNTRUST BANK N.A. - GF - (ACCT# XXXXX9542)

Check	003944	10/07/19	Vendor	AMERICAN ECOSYSTEMS, INC	1910201	OCT WATER MGMT TREATMENT	Prepaid Items	155000	$1,791.00	
Check	003945	10/03/19	Vendor	KING ENGINEERING ASSOCIATES, I	107400	ENGG SVCS THRU AUG 2019	ProfServ-Engineering	001-531013-51501	$6,090.75	
Check	003946	10/03/19	Vendor	LANDSCAPE MAINTENANCE	146959	OCT GRNDS MAINT	Contracts-Landscape	001-534050-53901	$4,660.00	
Check	003947	10/03/19	Vendor	PUBLIC RISK INSURANCE	63392	POLICY #PK2FL1 0294038 10/1/2018-10/1/2020	Insurance - General Liability	001-545002-51301	$7,000.00	
Check	003948	10/03/19	Vendor	STRALEY ROBIN VERICKER	17550	GEN MATTERS THRU SEP 2019	ProfServ-Legal Services	001-531023-51401	$1,234.15	
Check	003949	10/03/19	Vendor	TAMPA ELECTRIC	092119-CHK	211012535103 8/17-9/18/19	ELECTRIC - GENERAL	001-543006-53901	$735.16	
Check	003950	10/15/19	Employee	SHELDON J. COHEN	PAYROLL	October 15, 2019 Payroll Posting			$184.70	
Check	003951	10/15/19	Employee	NILESHKUMAR C. PATEL	PAYROLL	October 15, 2019 Payroll Posting			$184.70	
Check	003952	10/15/19	Employee	JAMES W. HURLEY	PAYROLL	October 15, 2019 Payroll Posting			$183.87	
Check	003953	10/17/19	Vendor	LANDSCAPE MAINTENANCE	147353	PRUNING OF PALMS	Misc-Contingency	001-549900-53901	$1,505.00	
Check	003954	10/28/19	Vendor	DEPT OF ECONOMIC OPPORTUNITY	74020	FY 19/20 DIST FILING FEE	Annual District Filing Fee	001-554007-51301	$175.00	
Check	003955	11/01/19	Vendor	AMERICAN ECOSYSTEMS, INC	1911202	NOV WATER MGMT SVCS	Contracts-Lakes	001-534084-53901	$1,791.00	
Check	003956	11/01/19	Vendor	LANDSCAPE MAINTENANCE	147762	NOV GROUNDS MAINT	Contracts-Landscape	001-534050-53901	$4,660.00	
Check	003957	11/01/19	Vendor	TAMPA ELECTRIC	102319-5103 CHK	211012535103 9/19-10/17/19	Electricity - General	001-543006-53901	$735.16	
Check	003958	11/04/19	Vendor	INFRAMARK, LLC	45710	OCT MGMT FEES	ADMIN FEES	001-531027-51201	$4,019.00	
Check	003958	11/04/19	Vendor	INFRAMARK, LLC	45710	OCT MGMT FEES	POSTAGE	001-541006-51301	$2.50	
Check	003958	11/04/19	Vendor	INFRAMARK, LLC	45710	OCT MGMT FEES	GO DADDY.COM DOMAIN	001-549915-51301	$45.95	
Check	003959	11/11/19	Vendor	STRALEY ROBIN VERICKER	17651	GEN MATTERS THRU 10/15/19	ProfServ-Legal Services	001-531023-51401	$717.50	
Check	003960	11/25/19	Vendor	KING ENGINEERING ASSOCIATES, I	108005	ENGG SVCS THRU OCT 2019	ProfServ-Engineering	001-531013-51501	$889.00	
Check	003961	11/25/19	Vendor	STRALEY ROBIN VERICKER	17671	GEN MATTERS THRU 11/15/19	ProfServ-Legal Services	001-531023-51401	$150.00	
Check	003962	11/27/19	Vendor	TAMPA ELECTRIC	112119-5103 CHK	BILL PRD 10/18-11/15/19	Electricity - General	001-543006-53901	$735.16	
ACH	DD124	10/10/19	Vendor	TAMPA ELECTRIC	091919-3046 ACH	211001693046 8/14-9/13/19	STREET LIGHTS	001-543013-53901	$1,988.68	
ACH	DD125	11/08/19	Vendor	TAMPA ELECTRIC	101819-3046 ACH	BILL PRD 9/14-10/14/19 STREET LIGHTING	211001693046	001-543013-53901	$1,988.34	

Account Total $41,466.62

Total Amount Paid	$41,466.62

Agenda Page 20

Page 9

Payment Register by Bank Account   For the Period from 10/01/2019 to 11/30/2019 (Sorted by Check / ACH No.)

Pymt Type	Check / ACH No.	
Date	Payee Type	
Payee	
Invoice No.	
Payment Description	
Invoice / GL Description	
G/L Account #	Amount Paid	

Total Amount Paid - Breakdown by Fund	
Fund		Amount	
General Fund - 001		41,466.62	
	Total	41,466.62