SWI Community Development District
12051 Corporate Boulevard Orlando, FL 32817
Phone 407-723-5900; Fax 407-723-5901
www.swicdd.com
The following is the proposed agenda for the Board of Supervisors’ Meeting for the SWI Community Development District, scheduled to be held Friday, August 28, 2020 at 9:00 a.m. via conference call due to the Executive Order 20-193 extending COVID-19 Executive Order 20-69. Attached to this Agenda is a copy of the Executive Order 20-193. The attendance of three Board Members is required to constitute a quorum.
To attend the meeting, please use the below conference call information: Phone:	1-844-621-3956
Access Code:	790 393 986 # BOARD OF SUPERVISORS’ MEETING AGENDA
Administrative Matters
Call to order
Roll call to confirm a quorum
Public Comment Period [for any members of the public desiring to speak on any proposition coming before the Board]
Consideration of the Minutes of the May 22, 2020 Board of Supervisors’ Meeting
Consideration of Resolution 2020-03, Setting an Annual Meeting Schedule for Fiscal Year 2020/2021
Consideration of Resolution 2020-04, Election of Officers

Business Matters
Review of Public Infrastructure Fee Collections [for the Board’s information only – no action needs to be taken]
Public Hearing on the Adoption of an Annual Budget; Consideration of Resolution
2020-05, Adopting a Budget and Appropriating Funds for the Fiscal Year 2020-2021 and Setting a Public Hearing Date Thereon [The District is required to take two steps each year to approve a budget for its upcoming fiscal year, which begins on October 1st. First, the Board must approve a preliminary budget and select a date for a public hearing on the adoption of a final budget. Second, the Board must hold public hearing on the budget and, thereafter, finally adopt the annual budget, which is the purpose of this Board Meeting. The District’s budgeted operations and maintenance expenses are currently funded by the developer on an as-incurred basis pursuant to a developer funding agreement.]
Consideration of FY2020-2021 General Funds Funding Agreement
Consideration of First Amendment to Agreement between the District and VglobalTech for Website Maintenance Services
Consideration of First Amendment to Agreement between the District and PFM for District Management Services
Review and Acceptance of Engineer’s Annual Inspection Report

Review and Acceptance  of  FY  2018-2019  (October  1,  2018  -  September  30,  2019) Annual Financial Report [Also known as the District’s annual audit, which is transmitted to the State of Florida each year. The Board will be asked to accept the audit]
Ratification of Funding Request Number 139- 145
Review of District’s Financial Position

Other Business
Staff Reports
District Counsel
District Manager

Audience Comments Supervisors Requests

Adjournment

STATE OF FLORIDA
OFFICE OF THE GOVERNOR EXECUTIVE ORDER NUMBER 20-193
(Amending Executive Order 20-179)

WHEREAS, on March 9, 2020, I issued Executive Order 20-52 declaring a state of emergency for the entire State of Florida due to COVID-19; and
WHEREAS, Executive Order 20-69, as amended by Executive Order 20-179, requires

amendment to provide local government bodies with additional time to notice their meetings.

NOW, THEREFORE, I, RON DESANTIS, as Governor of Florida, by virtue of the authority vested in me by Article IV, Section (l)(a) of the Florida Constitution, Chapter 252, Florida Statutes, and all other applicable laws, promulgate the following Executive Order to take immediate effect:
Section 1.

Section 3. of Executive Order 20-179 is amended to read, as follows:

Except as amended herein, I hereby extend Executive Order 20-69, as extended by Executive Orders 20-112, 20-123, 20-139 and 20-150, until 12:01 a.m. on October 1, 2020.
IN TESTIMONY WHEREOF, I have hereunto
set my hand and caused the Great Seal of the State of Florida to be affixed, at Tallahassee, this
7th day of	ust, 202	.

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ATTEST:	0

SWI
COMMUNITY DEVELOPMENT DISTRICT

Minutes

SWI Community Development District Minutes of Meeting

The Board of Supervisors Meeting for the SWI Community Development District, was called to order at 9:01 a.m. on Friday, May 22, 2020 at via conference call due to the Executive Order 20-112 extending COVID-19 Executive Order 20-69.

Sans Lassiter	Board Member	(via phone)	
Renee Milza	Board Member	(via phone)	
Kristina Circelli	Board Member	(via phone)	
Vincent Lacerenza	Board Member	(via phone)	
Brian Fredley	Board Member	(via phone)	

Also present were:			

Jane Gaarlandt	
PFM	
(via phone)	
Christina Hanna	PFM	(via phone)	
Lubna Sikder	PFM	(via phone)	
Mark Watts	Cobb Cole, P.A.	(via phone)	

FIRST ORDER OF BUSINESS		
Roll Call	

The Board of Supervisors meeting for the SWI Community Development District was called to order at approximately 9:01 a.m. Those in attendance are listed above.

SECOND ORDER OF BUSINESS	Public Comment Period

There were no public comments.

THIRD ORDER OF BUSINESS	Consideration of the Minutes from the August 23, 2019 Auditor Selection Committee and Board of Supervisors’ Meetings

The Board reviewed the Minutes from the August 23, 2019 Auditor Selection Committee and Board of Supervisors’ Meetings.

Page 1 of 5

ON MOTION by Ms. Milza, seconded by Mr. Lacerenza, with all in favor, the Board of Supervisors for the SWI Community Development District approved the Minutes from the August 23, 2019 Auditor Selection Committee and Board of Supervisors Meetings.

FOURTH ORDER OF BUSINESS	Consideration of Resolution 2020-01, Designating Date, Time, and Location for a Landowners Meeting and Election

Ms. Gaarlandt suggested November 13, 2020 at the mall office at 10:00 a.m. Only the Landowner or the Landowner proxy are required to attend.

ON MOTION by Ms. Milza, seconded by Ms. Circelli, with all in favor, Board of Supervisors for the SWI Community Development District approved Resolution 2020-01, Designating Date, Time, and Location for a Landowners’ Meeting and Election for November 13, 2020 at the mall office at 10:00 a.m.

FIFTH ORDER OF BUSINESS	Review	of	Public Infrastructure Fee Collections

The Board reviewed the Public Infrastructure Fee Collections. No action is required by the Board. Mr. Watts noted he will provide an update during his staff report, but this is for the board’s information and no action is required by the Board or the District. The levying for the Public Infrastructure Fee is pledged as part of the repayment for any obligations that the District has issued.

Mr. Lassiter said collections will be down during the period the closure was in effect and asked how the District is handling that and the impacts to the District. Mr. Watts stated collections have generally been down and the revenues coming in from the PIF Collections repays the noted that is issued by the District. The most recent note payment at the beginning of May the District had insufficient revenue to cover the full payment that was due. The Landowner waive the default and allowed things to progress forward and collected what is coming in. Mr. Watts expect that to continue to be the case but hopefully get to a point where revenues pick back up and the District

is making all its payments as provided under the note and if the District continues to not be able to make payments for several payments in a row then the District may need to work with the Landowner to consider resizing the note. Right now it is an event of default under the note, but it has been waived. There were no other questions or comments.

SIXTH ORDER OF BUSINESS	Consideration of Resolution 2020-02, Approving a Proposed Budget for Fiscal Year 2020-2021 and Setting a Public Hearing Date Thereon

Ms. Gaarlandt suggested August 28, 2020 at 10:00 a.m. and the notice will take into consideration whether the meeting will be in-person or virtually. Ms. Sikder presented the Budget to the Board. She noted the overall budget amount did not increase and only the line item for General Insurance increases. Ms. Gaarlandt stated this is a Landowner funded District so the expenses will only be paid as they are incurred. The budget cannot be increased after today, but it can be decreased between now and the Public Hearing Date.

ON MOTION by Ms. Milza, seconded by Mr. Lacerenza, with all in favor, the Board of Supervisors for the SWI Community Development District approved Resolution 2020-02, Approving a Proposed Budget for Fiscal Year 2020-2021 and Setting a Public Hearing for August 28, 2020 at 10:00 a.m.

SEVENTH ORDER OF BUSINESS	Consideration of Proposal for Annual	Engineering Inspection

Ms. Gaarlandt presented the proposal for Annual Engineering Inspection. Mr. Watts explained this inspection is now required under Florida Law. Since this is a Landowner funded District is simply a cost insured by the District to comply with the law and passed through to the Landowner.

ON MOTION by Ms. Milza, seconded by Ms. Circelli, with all in favor, the Board of Supervisors for the SWI Community Development District approved Proposal for Annual Engineering Inspection.

EIGHTH ORDER OF BUSINESS	Ratification	of	Funding Request Number 132 - 138

The Board reviewed funding requests 132-138 that were previously approved by the Chair and funded. Mrs. Gaarlandt requested the Board’s ratification.

ON MOTION by Mr. Lassiter, seconded by Ms. Milza, with all in favor, the Board of Supervisors for the SWI Community Development District ratified Funding Request No. 132– 138.

NINTH ORDER OF BUSINESS	Review	of	District’s Financial Position

The Board reviewed the statements of the District’s Financial Position. There was no action required by the Board.

Ms. Sikder apologized for not having the April financials in the agenda packet and offered to send the board a copy of the most recent financials this week.

TENTH ORDER OF BUSINESS		Staff Reports Audience Comments Supervisor Requests Adjournment

District Attorney -	No Report.

District Manager -	Ms. Gaarlandt asked Ms. Hanna if she had the Letter from the Supervisor of Elections regarding the number of registered voters. Mr. Watts explained the District must report the number of register voters residing in the District as a requirement to see if the District is getting to the point under Chapter 190 that requires the transition of control of the Board to resident electors. It is a commercial District so that number should stay at zero. Ms. Gaarlandt noted the number of registered voters in the District is zero.

There was no further business to discuss. A motion to adjourn was requested.

ON MOTION by Mr. Lassiter, seconded by Mr. Fredley, with all in favor the May 22, 2020 Board of Supervisors’ meeting for the SWI Community Development District was adjourned.

 	_ 	 	_ 	
Secretary/Assistant Secretary	Chairman/Vice-Chairman

SWI
COMMUNITY DEVELOPMENT DISTRICT

Resolution 2020-03

RESOLUTION 2020-03

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE SWI COMMUNITY DEVELOPMENT DISTRICT ADOPTING THE ANNUAL MEETING SCHEDULE FOR FISCAL YEAR 2020/2021, AND PROVIDING FOR AN EFFECTIVE DATE

WHEREAS, the SWI Community Development District (the “District”) is a local unit of special- purpose government created and existing pursuant to Chapter 190, Florida Statutes, and by an ordinance adopted by the City Council of the City of Port Orange, Florida; and

WHEREAS, the District is required by section 189.015, Florida Statutes, to file quarterly, semi- annually, or annually a schedule (including date, time, and location) of its regular meetings with local governing authorities; and

WHEREAS, further, in accordance with the above-referenced statute, the District shall also publish quarterly, semi-annually, or annually the District’s regular meeting schedule in a newspaper of general paid circulation in the county in which the District is located; and

WHEREAS, the Board of Supervisors (the “Board”) desires to adopt its annual meeting schedule for Fiscal Year 2020/2021, which is attached as Exhibit A.

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

SECTION 1. The Fiscal Year 2020/2021 annual meeting schedule attached hereto and incorporated by reference herein as Exhibit A is hereby approved and shall be published in accordance with the requirements of Florida law and also provided to applicable governing authorities.

SECTION 2.   The District Manager and/or the Secretary is hereby directed to submit a copy of  the Fiscal Year 2020/2021 annual meeting schedule to the City of Port Orange and Volusia County, Florida.

SECTION 3. This Resolution shall become effective immediately upon its adoption.

PASSED AND ADOPTED this 28th day of August, 2020.

ATTEST:	SWI	COMMUNITY
DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Vice/Chairperson, Board of Supervisors

Exhibit A:	Fiscal Year 2020/2021 Annual Meeting Schedule

EXHIBIT A

Notice of Meeting Schedule
SWI Community Development District

As required by Chapters 189 and 190 of the Florida Statutes, notice is hereby given that the Board of Supervisors of the SWI Community Development District plans to hold its regular meetings for its 2021 fiscal year at the Cobb Cole Center, 149 South Ridgewood, Daytona Beach, Florida 32114 at 9:00 a.m. on the following dates:

May 28, 2021
August 27, 2021

The meetings are open to the public and will be conducted in accordance with the provision of Florida Law for Community Development Districts. The meetings may be continued to a date, time, and place to be specified on the record at the meeting. A copy of the agenda for these meetings may be obtained from 12051 Corporate Blvd., Orlando, Florida 32817 or by calling (407) 382-3256.

There may be occasions when one or more Supervisors or staff will participate by telephone. Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations at this meeting because of a disability or physical impairment should contact the District Office at (407) 723-5900 at least 48 hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) / 1-800-955-8770 (Voice), for aid in contacting the District Office.

A person who decides to appeal any decision made at the meeting with respect to any matter considered at the meeting is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based.

District Manager

SWI
COMMUNITY DEVELOPMENT DISTRICT

Resolution 2020-04

RESOLUTION 2020-04

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

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

WHEREAS, pursuant to Section 190.006(6), Florida Statutes, as soon as practicable after each election or appointment to the Board of Supervisors (the “Board”), the Board shall organize by electing one of its members as chair and by electing a secretary, and such other officers as the Board may deem necessary.

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

Section 1.	_Renee Milza 		is elected Chairman. Section 2.	_Brian P. Fredley 		is elected Vice Chairman. Section 3.	_Jane Gaarlandt		is elected Secretary.
_Robert (Sans) Lassiter_ 	is elected Assistant Secretary.
_Christina Circelli	is elected Assistant Secretary.
_Vincent Lazerenza	is elected Assistant Secretary.
_Christina Hanna	is elected Assistant Secretary
  Jennifer Walden	is elected Assistant Secretary Section 4.	_Amanda Lane	is elected Treasurer.
Section 5.	_Jennifer Glasgow	is elected as Assistant Treasurer.

Section 6.	All resolutions or parts of Resolutions in conflict herewith are hereby repealed to the extent of such conflict.

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

PASSED AND ADOPTED THIS 28TH DAY OF AUGUST, 2020.

SWI COMMUNITY
ATTEST:	DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson/Vice-Chairperson

SWI
COMMUNITY DEVELOPMENT DISTRICT

Public Infrastructure Fee Collections

SWI CDD FY20 User Fee Collections	Account: 6712167701

Month	Year	Amount	Collected In	
October	2019	44,488.52	Nov-19	
November	2019	44,113.42	Dec-19	
December	2019	49,568.68	Jan-20	
January	2020	70,169.96	Feb-20	
February	2020	57,620.06	Mar-20	
March	2020	55,343.55	Apr-20	
April	2020	29,865.88	May-20	
May	2020	12,613.36	Jun-20	
June	2020	31,384.99	Jul-20	
July	2020		Aug-20	
August	2020		Sep-20	
September	2020	 		Oct-20	
		$395,168.42		

SWI
COMMUNITY DEVELOPMENT DISTRICT

Resolution 2020-05

RESOLUTION 2020-05

THE ANNUAL APPROPRIATION RESOLUTION OF THE SWI DISTRICT (THE “DISTRICT”) RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER  1, 2020 AND ENDING SEPTEMBER 30, 2021; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has, prior to the fifteenth (15th) day in June, 2020, submitted to the Board of Supervisors (the “Board”) a proposed budget for the next ensuing budget year along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Section 190.008(2)(a), Florida Statutes; and

WHEREAS, at least sixty (60) days prior to the adoption of the proposed annual budget (the “Proposed Budget”), the District filed a copy of the Proposed Budget with the local governing authorities having jurisdiction over the area included in the District pursuant to the provisions of Section 190.008(2)(b), Florida Statutes; and

WHEREAS, the Board set August 28, 2020, as the date for a public hearing thereon and caused notice of such public hearing to be given by publication pursuant to Section 190.008(2)(a), Florida Statutes; and

WHEREAS, the District Manager posted the Proposed Budget on the District’s website at least two days before the public hearing (or if the District does not yet have its own website, the District Manager timely transmitted the Proposed Budget to the manager or administrator of Volusia County for posting on their websites); and

WHEREAS, Section 190.008(2)(a), Florida Statutes, requires that, prior to October 1st of each year, the District Board, by passage of the Annual Appropriation Resolution, shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year; and

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

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

Section 1.	Budget

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

The District Manager’s Proposed Budget, attached hereto as Exhibit “A,” as amended by the Board, is hereby adopted in accordance with the provisions of Section 190.008(2)(a), Florida Statutes, and incorporated herein by reference; provided, however, that the comparative figures contained in the adopted budget may be subsequently revised as deemed necessary by the District Manager to reflect actual revenues and expenditures.

That the adopted budget, as amended, shall be maintained in the office of the District Manager and at the District’s Records Office and identified as “The Budget for the SWI Community Development District for the Fiscal Year Ending September 30, 2021,” as adopted by the Board of Supervisors on August 28, 2020.

The final adopted budget shall be posted by the District Manager on the District’s official website within thirty (30) days after adoption. If the District does not yet have its own website, the District Manager is directed to transmit the final adopted budget to the managers or administrators of Volusia County for posting on their websites.

Section 2.	Appropriations

There is hereby appropriated out of the revenues of the District, for the fiscal year beginning October 1, 2020, and ending September 30, 2021, the sum of $1,225,250.00, which sum is deemed by the Board of Supervisors to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated in the following fashion:

TOTAL GENERAL FUND	$	85,015.00	
TOTAL DEBT SERVICE FUND	$ 1,140,235.00	
TOTAL ALL FUNDS

Section 3.	Budget Amendments	$ 1,225,250.00	

Pursuant to Section 189.016, Florida Statutes, the District at any time within the fiscal year or within 60 days following the end of the fiscal year may amend its budget for that fiscal year as follows:

The Board may authorize an increase or decrease in line item appropriations within a fund by motion recorded in the minutes if the total appropriations of the fund do not increase.

The District Manager or Treasurer may authorize an increase or decrease in line item appropriations within a fund if the total appropriations of the fund do not increase and if the aggregate change in the original appropriation item does not exceed $10,000 or 10% of the original appropriation.

By resolution, the Board may increase any appropriation item and/or fund to reflect receipt of any additional unbudgeted monies and make the corresponding change to appropriations or the unappropriated balance.

Any other budget amendments shall be adopted by resolution and consistent with Florida law.

The District Manager or Treasurer must establish administrative procedures to ensure that any budget amendments are in compliance with this Section 3 and Section 189.016 of the Florida Statutes, among other applicable laws. Among other procedures, the District Manager or Treasurer must ensure that any amendments to budget(s) under subparagraphs c. and d. above are posted on the District’s website within 5 days after adoption. If the District does not yet have its own website, the District's Secretary is directed to transmit such amendments to the manager or administrator of Volusia County for posting on their websites.

Section 4.	Effective Date. This Resolution shall take effect immediately upon adoption.

Passed and adopted this 28th day of August, 2020.

ATTEST:	SWI COMMUNITY DEVELOPMENT
DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

SWI Community Development District Fiscal Year 2020-2021 Proposed O&M Budget

Actuals Through 07/31/20

Anticipated 08/2020 -
09/2020

Anticipated FY 2020
Totals

FY 2020

     $24,378.33 	
$24,378.33	

Adopted Budget

FY 2021
Proposed Budget

Revenues	
Developer Contributions	
Net Revenues	

 	
 	$36,062.45	
$36,062.45	

 	
     $66,427.68 	
$66,427.68	

 
     $85,015.00 	
$85,015.00	

 
     $85,015.00 	
$85,015.00	

$400.00	
930.00	
5,000.00	
5,300.00	
8,333.33	
2,000.00	
0.00	
50.00	
0.00	
15.00	
0.00	
1,000.00	
250.00	
1,100.00	
0.00	
 	0.00 	
$24,378.33	

$400.00	
4,000.00	
30,000.00	
5,500.00	
9,412.74	
2,000.00	
5,450.00	
50.00	
0.00	
28.00	
0.00	
1,820.94	
250.00	
2,400.00	
175.00	
 	4,941.00 	
$66,427.68	

$2,400.00	
4,000.00	
30,000.00	
5,500.00	
25,000.00	
2,000.00	
5,500.00	
50.00	
25.00	
100.00	
265.00	
2,500.00	
250.00	
2,400.00	
175.00	
 	4,850.00 	
$85,015.00	

$2,400.00	
4,000.00	
30,000.00	
5,500.00	
25,000.00	
2,000.00	
5,500.00	
90.00	
0.00	
100.00	
100.00	
2,400.00	
250.00	
2,400.00	
175.00	
 	5,100.00 	
$85,015.00	

CDD General & Administrative 		
Supervisor Fees	$0.00	
Trustee Services	3,070.00	
Management	25,000.00	
Engineering	200.00	
District Counsel	1,079.41	
Trustee Counsel	0.00	
Audit	5,450.00	
Travel and Per Diem	0.00	
Telephone	0.00	
Postage & Shipping	13.00	
Copies	0.00	
Legal Advertising	820.94	
Contingency	0.00	
Web Site Maintenance	1,300.00	
Dues, Licenses, and Fees	175.00	
General Insurance	 	4,941.00	
Total General & Administrative
Expenses	$42,049.35	
Total Expenses	     $42,049.35 	

     $24,378.33 $66,427.68 $85,015.00 $85,015.00 

Net Income (Loss)	   
 	($5,986.90) 	$0.00 	$0.00 	$0.00      		

SWI Community Development District	
Fiscal Year 2020-2021 Proposed Debt Service Budget	

REVENUES:

Special Assessments

FY2021 Proposed Series 2016 Budget

$	1,140,235.00

TOTAL REVENUES	 $	1,140,235.00 

EXPENDITURES:

Principal 11/01/2020	
Interest 11/01/2020	
Interest 05/01/2021	

$	175,000.00	
$	262,295.00	
$	258,970.00	

TOTAL EXPENDITURES	 $	696,265.00 

EXCESS REVENUES	 $	443,970.00 

Principal 11/01/2021	
Interest 11/01/2021	

$	185,000.00	
$	258,970.00	

SWI
COMMUNITY DEVELOPMENT DISTRICT

FY2020-2021 General Funds Funding Agreement

SWI Community Development District Fiscal Year 2020-2021 Funding Agreement

This Agreement is made and entered into this 28th day of August, 2020, by and between SWI COMMUNITY DEVELOPMENT DISTRICT (hereinafter the “District”), a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within Volusia County, Florida and PORT ORANGE TOWN CENTER, LLC (hereinafter the “Developer”).

RECITALS

WHEREAS, the District was established by City of Port Orange, Ordinance, 2007- 52 (the Ordinance”), for the purpose of planning, financing, constructing, operating, and maintaining, certain infrastructure improvements; and

WHEREAS, the District’s fiscal year runs from October 1, 2020 through September 30, 2021 and

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

WHEREAS, the Developer is agreeable to funding the operations of the District for fiscal year 2021, running from October 1, 2020 to September 30, 2021, as called for in the proposed general fund budget approved by the District’s Board of Supervisors, a copy of which is attached hereto and made a part hereof as Exhibit “A”, in lieu of paying taxes, assessments or other charges to fund such operations.

NOW, THEREFORE, IN CONSIDERATION OF THE RECITALS, AGREEMENTS, AND MUTUAL COVENANTS CONTAINED HEREIN, AND OTHER GOOD AND VALUABLE CONSIDERATION, THE RECEIPT AND SUFFICIENCY OF WHICH ARE HEREBY ACKNOWLEDGED, THE DEVELOPER AND THE DISTRICT AGREE AS FOLLOWS:

The Developer agrees to make available to the District such monies as are necessary and reflect in the proposed general fund budget for the 2021 fiscal year on a monthly basis within 15 days of a written request by the District, but in no case shall the Developer be obligated to provide funds in excess of the amount shown on Exhibit “A”. The funds shall be placed in the District’s depository as determined by the District.

The parties agree that such monies as the Developer may provide the District under the terms of the Agreement are for operating and maintenance expenses only and, because they are deemed collected in lieu of taxes, assessments, or other charges, will not be reimbursed in this fiscal year.

This Agreement shall expire on September 30, 2021.

IN WITNESS WHEREOF THE PARTIES EXECUTE THIS AGREEMENT THE 28TH DAY OF AUGUST, 2020.

ATTEST:

SWI COMMUNITY DEVELOPMENT DISTRICT

 	
SECRETARY	CHAIRMAN

PORT ORANGE TOWN CENTER, LLC
a Delaware limited liability company,

By:	Port Orange I, LLC,
a Florida limited liability company,
its sole member and chief manager

By:	The Pavilion at Port Orange, a Florida limited liability company,
its managing member

By:	CBL & Associates Limited Partnership,
a Delaware limited partnership,
its chief manager

By:	CBL Holdings I, Inc.,
a Delaware Corporation, its sole general partner

By:	 	
Jeffery V. Curry, Chief Legal Officer

SWI
COMMUNITY DEVELOPMENT DISTRICT

Agreement between the District and VglobalTech

ADDENDUM NUMBER 1 TO
AGREEMENT BETWEEN SWI COMMUNITY DEVELOPMENT DISTRICT AND NEWAGETUTORS LLC D/B/A VGLOBALTECH
FOR WEBSITE MAINTENANCE SERVICES

THIS ADDENDUM NUMBER 1, dated August 28, 2020 (“Addendum”) authorizes additional services, in accordance with Section 2.B., as established by the previously executed Agreement Between SWI Community Development District and NewAgeTutors LLC d/b/a VGlobalTech, for Website Maintenance Services dated December 26, 2019 (“Agreement”).

SECTION 1.  SCOPE OF SERVICES.  The Contractor shall provide the services described  in the Agreement and in the attached Exhibit A (the “Additional Services”).

SECTION 2. COMPENSATION. The District shall pay the Contractor  One  Hundred Dollars ($100.00) per month, as compensation for the Additional Services. Compensation for  the Additional Services shall include all materials and labor necessary to complete the Additional Services as provided herein.

SECTION 3.	ACCEPTANCE; AFFIRMATION OF THE AGREEMENT. Acceptance of this
Addendum will authorize the Contractor to complete the Additional Services as outlined above and is indicated by the signature of the authorized representative of the District and the Contractor in the spaces provided below. The Contractor shall commence the aforesaid Additional Services upon execution of this Addendum and shall perform the same in accordance with the terms and conditions of the Agreement, which, except to the extent expressly altered or changed in this Addendum, remain in full force and effect. In the event of any conflict between the terms of Exhibit A attached hereto, and the terms of the Agreement, the Agreement shall control.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be executed the day and year first above written.

Attest:	SWI COMMUNITY DEVELOPMENT DISTRICT

Secretary	Chairman, Board of Supervisors

Witness:	NEWAGETUTORS LLC, a Florida Limited Liability Company, d/b/a VGlobalTech

Signature of Witness	Name: Vaibhav V. Joshi
Title:	Manager

Print Name

Exhibit A:	Scope of Additional Services

EXHIBIT A

Website Maintenance Proposal For

SWI CDD

Date	Version#	Comments	Author	
June 25, 2020	1.0	Created Proposal	VB Joshi	

VGlobalTech is the ADA, WCAG Compliance Expert and leading Web design company, with over 300 ADA & WCAG compliant websites created (….and counting) to-date! We have partnered with a non-profit agency to conduct Human Audit and Certification Seal.
Visit https://vglobaltech.com/website-compliance/ for details.

COPYRIGHT ©: This proposal and the contents within this document are solely created by VGlobalTech team for its customers and cannot be reproduced, copied, modified or distributed (including forwarding to other customers, competitors, web designers etc.) without the written consent of VGlobalTech. VGlobalTech company holds Intellectual Property* details along with company software details that must not be shared with others without the written permission of the company. The proposal and software details are customized for the requesting customer and cannot be applied to any other customer / asset / solution. This document does not apply to a case if it is not exclusively sent to you by VGlobalTech upon request.
Any violations are punishable under the law and shall be prosecuted.

* VGlobalTech has developed unique ADA and WCAG compliance expertise, optimized website templates, compliance multi-step procedure and quality control, document conversion software
and test procedures. Contact us for details of VGlobalTech’s Intellectual Property.

Table of Contents
Pricing	4
Monthly Maintenance, Hosting and Email Support	4
2.0	Proposal Acceptance:	6

Pricing
Monthly Maintenance, Hosting and Email Support

Maintenance contract is required for VGlobalTech’s proprietary document conversion software (PDF to RTF) to be used that allows faster, accurate and batch processing for document conversion.

	Task	
1.	Full content upload support to regularly keep site updated (includes all documents, audit reports, agendas, meeting minutes, events etc). Update turnaround time – less than 24 hrs from customer sending the content and documents to be updated to VGT team.	
2.	PDF Documents conversion (to Text, HTML etc) as needed (new documents during the maintenance year only) for ADA Compliance / Reader Compliance. VGlobalTech’s proprietary batch conversion software shall be used by our team for faster batch-conversion processing as long as the contract is valid (big time saver that creates compliant documents that can be uploaded to the website). If Auto conversion fails, VGlobalTech team shall perform manual OCR and conversion within 24 hrs.	
3.	Email accounts setup and support	
	
Total Monthly Maintenance with full content upload, document conversion:
$100 / month

*support beyond 10 hrs. / month / CDD shall be billed at $55 / hr. separately (VGlobalTech team shall be responsible to track and report hours exceeded, if any)
***Monthly maintenance must be paid before the 10th of every month	

This proposal includes following points, stipulations terms and conditions:
*(1) conference call or in person meetings per month with client to review metrics, results and monthly recaps *unless otherwise noted
* email and phone communication
*Anything out of the scope of work in the above proposal will be addressed and client will be immediately notified. After notification of additional work, a subsequent quote will be provided to cover that work.
*Client is responsible to adhering to timelines as far as information required to complete the task is concerned. If timelines are not adhered to and exceed 15 business days past the current marketing months, last day, all work will end. A new month with new allocated costs will be presented for future work to commence. No refunds and owed work will be due unless otherwise agreed upon. An Invoice will be provided once signature approval of this project proposal. Payments will be made to VGLOBALTECH
*Client is responsible for verifying quality of work, providing feedback, verifying that compliance has been met as required. VGlobalTech team shall not be responsible for any legal ramifications arising from work not done as per external agencies / organizations / associations needs if
proper feedback is not provided by the customer. VGlobalTech’s work will be in best faith but cannot guarantee all compliance / legal needs since we are not the final authority in the ADA or WCAG compliance area. VGlobalTech shall not be liable for any legal ramifications arising from compliance issues and cannot be held responsible for any legal or other lawsuits.
Refund Policy: The client may halt work and request for a refund within seven days of the date of signing this services agreement by mailing a signed letter to the main address listed on www.VGlobalTech.com website. If client requests a refund within seven days of the date of signing their agreement, they shall be liable to pay for all work completed and will be refunded the remaining balance of the initial payment if billable work has not exceeded a charge that would be greater than client’s initial payment. If client requests a refund after the seven days from the date of the signing of the agreement client is liable to pay for all work completed plus an additional 25% of any remaining balance that may still be due. Once line item projects are complete no refunds will be issued. Confidentiality: All information between client and service provider inclusive of technical and business information relating to proprietary ideas, patentable ideas and/or trade secrets, existing and/or contemplated products and services, research and development, production, costs, profit and margin information, finances and financial projections, customers, clients, marketing, and current or future business plans and models, regardless of whether such information is designated as “Confidential Information” at the time of its disclosure and will be treated as such and with absolute confidentiality and will
not be shared or used, which will be maintained at all times. The client is not allowed to disclose their price with any third parties. Doing so is in breach of this agreement. All information development will be shared and proprietary information and property between client and service providers.

2.0 Proposal Acceptance:

The VGlobalTech proposed solution and terms have been accepted by the customer and the VGlobalTech can proceed with the project. All payments shall be made according to this agreement.

Website, Monthly Maintenance w/ Hosting and Email support

Signatures:

For Customer	Date

VB Joshi

For VGlobalTech	Date

EXHIBIT A

Page 3 of 3

SWI
COMMUNITY DEVELOPMENT DISTRICT

Agreement between the District and PFM for District Management Services

FIRST ADDENDUM TO DISTRICT MANAGEMENT AGREEMENT

This First Addendum to District Management Agreement (“Addendum”), is made and entered into as of this 28th day of August, 2020 (the “Effective Date”), by and between SWI Community Development District, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, located in Volusia County, Florida (the “District’), and PFM Group Consulting LLC (“Consultant”).

RECITALS

WHEREAS, the District and Fishkind & Associates, Inc. entered into that certain District Management Agreement dated February 8, 2019 (the “Agreement”); and

WHEREAS, the Agreement was assigned to Consultant by virtue of a Notice of Assignment of Contract for District Management Services dated April 12, 2019 (“Assignment”).

WHEREAS, the District and the Consultant desire to amend the Scope of Services, Section
General Management Services, of the Agreement and adjust the monthly compensation due to Consultant, as further described in this Addendum; and

WHEREAS, the District and the Consultant each has the authority to execute this Addendum and to perform its obligations and duties hereunder, and each party has satisfied all conditions precedent to the execution of this Addendum so that this Addendum constitutes a legal and binding obligation of each party hereto.

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

The following services are deleted from Exhibit A – Scope of Services, Section I. General Management Services (“Scope”): “The Manager will maintain the District’s website in compliance with applicable law and ensure an e-mail system is in place which provides a separate “CDD e-mail address” for all Board members with an archiving system which will allow Manager to respond to public records requests and maintain e-mails in compliance with applicable records retention law.”

The Consultant’s compensation currently due under the Agreement is hereby reduced by One Hundred Dollars ($100.00) per month.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be executed the day and year first above written.

Attest:	SWI COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

Witness:	PFM GROUP CONSULTING LLC

Signature of Witness	Name:  	
Title:    	

Print Name of Witness

SWI
COMMUNITY DEVELOPMENT DISTRICT

Engineer’s Annual Inspection Report

Robert H. Pierro, P.E. 1585 Virginia Avenue Palm Harbor, FL 34683 rhpierro@icloud.com

July 21, 2020

SWI Community Development District
c/o MUFG Union Bank, N.A.
1251 Avenue of the Americas, 19th Floor New York, NY 10020
Atten: Ivy Wegener, Assistant Vice President, Corporate Trust – Client Account Manager

Re:	The Pavilion at Port Orange – CDD Inspection Services SWI Community Development District
City of Port Orange, Volusia County, Florida Dear Ms. Wegener:
I have completed the on-site inspection of the four storm water ponds owned by SWI CDD at The Pavilion at Port Orange in accordance with our proposal dated January 24, 2020.

An on-site inspection of the storm water ponds was performed on July 17, 2020 and included a meeting with Renee Milza, SLD, General Manager, CBL Properties and Vinny Lacerenza, Operations Manager, ERMC Total Facility Services.  ERMC is the company that CBL uses to maintain the site.  See attached site photos of the four storm water ponds. My onsite inspection included visual inspections around the perimeter of the four ponds to check for any items needing repair or additional maintenance. There were no observed issues with the retaining walls or pond slopes. The water quality in ponds 1, 3 & 4 looked good. Pond 2 had algae, probably due to the use of reclaimed water.

The Pavilion at Port Orange uses stormwater ponds 1-3 for its source of irrigation water. The ponds have access to reclaimed water during dry periods. The reclaimed water is discharged into the southern part of Pond 2. The reclaimed water discharge is being controlled by manually opening or closing a valve. There was no evidence of using reclaimed water due to the summer rains.

The Saint Johns River Water Management District stormwater permit for The Pavilion at Port Orange did not address the stormwater ponds being supplemented with reclaimed water. The water levels in the stormwater ponds is currently being maintained about one foot higher than anticipated in the permitted stormwater calculations. Fortunately, the permitted stormwater calculations were very conservative and I do not expect any major adverse flooding effects. However, if the water level in the stormwater ponds ever backs up in the parking lots then this will need to be re-evaluated.

The stormwater ponds at the Pavilion at Port Orange use multiple outfall control structures (OCS) to control the water levels in the stormwater ponds and it is necessary to properly maintain all the OCS’s even if they appear high and dry.

As I walked around the site, I observed standing water in all the perimeter ditches. When I measured the tailwater elevation (using the grate elevations) I determined that the water elevation in the ditches next to I-95 was higher than the storm water pond water elevation. The Outfall Control Structures next to I-95 have their overflow weir set at elevation 26.5 which is approximately 9 inches above the observed water elevation in the ditches and therefore there was no observed flow going from the ditches into the stormwater ponds. There was approximately a foot of standing water in the ditch next to Williamson Boulevard and I could not observe any water flow. These conditions were not reflected in the permitted stormwater calculations.  Based on these observations, the water levels in the stormwater ponds are being maintained at the lowest level possible.

Based on our on-site inspection I recommend the following areas (see Master Drainage Plan Exhibit) receive additional maintenance;

Area 1 is a where outfall pipes from ponds 1 & 4 discharge into the Williamson Blvd. ditch and then discharge via a 30” storm pipe under Williamson Blvd. flowing west. This area is within the R/W of Williamson Blvd. and should be maintained by Volusia County, however, the current maintenance of this area does not allow the stormwater ponds to function as designed and permitted. A review of historic aerials reveals that the Williamson Blvd. ditch has been properly maintained in the past. I recommend that CBL continue to monitor this area and to request maintenance by Volusia County when needed.

OCS 2 The vegetation around OCS 2 needs to be trimmed so that the grate on OCS 2 is not impacted. (See the fourth picture of Pond 1)

OCS 3 The vegetation around OCS 3 needs to be trimmed so that the grate on OCS 3 is not impacted. (see the second picture of Pond 2)

Areas 2 is the east end of the stormwater pipes discharging from OCS 4. This is a major outfall for the stormwater ponds. The end of the pipes should be kept clear of vegetation. This will keep the vegetation from choking the end of the stormwater pipe. (see the fourth picture of pond 2)

Areas 3 is the east end of the stormwater pipes discharging from OCS 5. This is a major outfall for the stormwater ponds. The end of the pipes should be kept clear of vegetation. This will keep the vegetation from choking the end of the stormwater pipe. (see the fourth picture of pond 3)

Area 4 also needs the ends of the stormwater pipes kept clear of vegetation. There is a 24” pipe discharging from OCS 6 and two 30” pipes to convey the discharge to the Williamson Blvd. ditch. Stormwater needs to be able to flow freely from the 24” pipe to the two 30” pipes. This area is subject to a drainage easement in favor of Volusia County. The party responsible for maintenance of this area was not clear to CBL or myself and guidance from the legal staff is requested. (See the last picture for Area 4)

As part of our due diligence, I reviewed the status of the storm water permit with Saint Johns River Water Management District (SJRWMD). SJRWMD provides a convenient portal thru their website to check the status of permits. The governing permit for this site is permit number 4-127-110939-7, dated

February 9, 2011. This permit authorized the SWI Community Development District to operate the system and is responsible for routine maintenance. There were no violations noted on the website.

In summary, the stormwater ponds are being maintained in a manner that keeps the stormwater ponds attractive and provides adequate flood protection. However, the stormwater ponds are not in conformance to the SJRWMD stormwater permit, due to the use of adding reclaimed water to the stormwater ponds. I also recommend that CBL continue to monitor the Williamson Blvd. ditch and to request maintenance by Volusia County as needed.

If you have any questions, please contact me. Sincerely,

Cc: Sonali Patil @ Fishkind & Associates, Inc.

Master Drainage Plan

Stormwater Pond 1
Parcel ID: 63180600005A

Photo Credit: Volusia County Property Appraiser

Stormwater Pond 2
Parcel ID: 63180600005D

Photo Credit: Volusia County Property Appraiser

Stormwater Pond 3
Parcel ID: 63180600005C

Photo Credit: Volusia County Property Appraiser

Stormwater Pond 4
Parcel ID: 63180600005B

Photo Credit: Volusia County Property Appraiser

Overall Parcel Map

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Area 2

Area 4

Williamson Blvd Ditch (7/17/20)

Ditch next to I-95 (7/17/20)

SWI
COMMUNITY DEVELOPMENT DISTRICT

FY 2018-2019	Annual	Financial Report

SWI COMMUNITY DEVELOPMENT DISTRICT FINANCIAL STATEMENTS
SEPTEMBER 30, 2019

SWI COMMUNITY DEVELOPMENT DISTRICT TABLE OF CONTENTS SEPTEMBER 30, 2019
Independent Auditors’ Report	1 - 2
Management’s Discussion and Analysis	3 - 7
Financial Statements
Government-wide Financial Statements
Statement of Net Position	9
Statement of Activities	10
Fund Financial Statements
Balance Sheet – Governmental Funds	11
Reconciliation of the Balance Sheet  Governmental Funds to the Statement of Net Position Statement of Revenues, Expenditures and Changes in
Fund Balances—Governmental Funds	12
Statement of Revenues, Expenditures and Changes in Fund Balance – Governmental Funds	13
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities	14
Notes to Financial Statements	15 - 21
Required Supplementary Information
Schedule of Revenues, Expenditures and Changes in Fund Balances -
General Fund - Budget and Actual	23
Additional Elements Required by the Rules of the Auditor General
Independent Auditors’ Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Special-Purpose Financial
Statements Performed in Accordance with Government Auditing Standards	25 - 26
Independent Auditors’ Management Letter Required by
Chapter 10.550, Rules of the State of Florida, Office of the Auditor General	27 - 28
Independent Accountants’ Examination Report	29

INDEPENDENT AUDITORS’ REPORT

To the Board of Supervisors,
SWI Community Development District:

Report on the Financial Statements

We have audited the accompanying financial statements of the governmental activities and each major fund of the SWI Community Development District (the District), as of and for the year ended September 30, 2019, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.

Management’s Responsibility for the Financial Statements

The District’s management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Opinions

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the District, as of September 30, 2019, and the respective changes in financial position thereof the year then ended in conformity with accounting principles generally accepted in the United States of America.

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated June 29, 2020, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control over financial reporting and compliance.

Daytona Beach, Florida June 29, 2020

SWI Community Development District Management’s Discussion and Analysis

As management of the SWI Community Development District (the District), we offer readers of the District's financial statements this narrative overview and analysis of the financial activities of the District for the fiscal year ended September 30, 2019.

Financial Highlights

The liabilities of the SWI Community Development District exceeded its assets at the close of the 2019 fiscal year by $(9,617,653) (net position). Of this amount, $(9,178,274) is net investment in capital assets.

The District's total long-term liabilities decreased by $165,000 during the 2019 fiscal year. This reflects the repayment of outstanding balances for bonds, notes and capital leases. The District paid interest expenditures of $584,986.

Overview of the Financial Statements

This discussion and analysis is intended to serve as an introduction to the District's basic financial statements. The District's basic financial statements comprise three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.

Government-wide financial statements

The government-wide financial statements are designed to provide readers with a broad overview of the District's finances, in a manner similar to a private-sector business.

The statement of net position presents information on all of the District's assets and liabilities, with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.

The statement of activities presents information showing how the government's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows.

Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave). The governmental activities of the District include general government. The government-wide financial statements can be found on pages 9-10 of this report.

Fund financial statements

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

Governmental funds

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

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

The District maintains 2 individual governmental funds, including the General Fund and Debt Service Fund. The General Fund and Debt Service Fund are reported as major funds.

Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures and changes in fund balances for the major funds.

The District adopts an annual appropriated budget for its General Fund. A budgetary comparison statement has been provided for the general fund to demonstrate compliance with this budget. The basic governmental fund financial statements can be found on pages 11-14 of this report.

Notes to the financial statements

The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 15-21 of this report.

Government-wide Financial Analysis

The following is a summary of the District’s governmental activities net position for each of the past two years:

 	2019		 	2018		 	Change	

ASSETS
Current and other assets	$	321,068	$	422,868	$ (101,800)	
Capital assets, net	 	6,608,005	 	7,021,006 	     (413,001)	
Total assets	  $ 6,929,073	  $ 7,443,874 	$ (514,801)	

LIABILITIES
Current liabilities	
$	930,447	
$	874,826	
$	55,621	
Other liabilities	     15,616,279 	     15,786,279 	     (170,000)	
Total liabilities	  $ 16,546,726 	  $ 16,661,105 	  $ (114,379)	
NET POSITION
Net investment in capital assets	
$ (9,178,274)	
$ (8,930,273)	
$ (248,001)	
Unrestricted	 	(439,379)	 	(286,958)	     (152,421)	
Total net position	  $ (9,617,653)	  $ (9,217,231)	$ (400,422)	

As noted earlier, net position may serve	
over time as a	
useful indicator of	
a government's financial	
position. In the case of the District, liabilities exceeded assets by $(9,617,653) at the close of the 2019 fiscal year. By far the largest portion of the District's net position (95.43% percent) reflects its investment in capital assets (infrastructure), less any related debt used to acquire those assets that are still outstanding.

The following is a summary of the changes in the District’s governmental activities net position for each of the past two years:

	2019		2018		Change	

Reve nue s:						
Program revenues: Charges for services	
$	595,854		
$	680,102		
$ (84,248)	
Grants and contributions	 	62,858		 	74,879		 	(12,021)	
Total revenues	  $	658,712		  $	754,981		$ (96,269)	
Expe nse s:						
General government	$	474,148		$	472,737		$	1,411	
Interest	 	584,986		 	538,745		 	46,241	
Total expenses	  $ 1,059,134		  $ 1,011,482		$	47,652	

Change in net position	
$	400,422		
$	256,501		
$ 143,921	
Net position, beginning	 	(9,217,231)		 	(8,960,730)		     (256,501)	
Net position, ending	  $ (9,617,653)		  $ (9,217,231)		$ (112,580)	

Governmental activities

Governmental activities decreased the District's net position by $(400,422). This amount is primarily attributable to decreases in general revenues including developer contributions and user fee revenues.

The District’s total revenues related to governmental activities decreased by approximately $96,269 from the prior year. Factors that contributed to a decrease in revenues are a decrease in user fee collections.

Expenses related to governmental activities increased by $47,652 from the prior year. This is related to an increase in interest expenses related to debt.

Governmental funds

As of the end of the fiscal year 2019, the District's governmental funds reported combined ending fund balances of $(220,800), a decrease of approximately $100,800 in comparison with the prior year.

Capital Asset and Debt Administration

Capital assets. The District's investment in capital assets for its governmental funds as of September 30, 2019, amounts to $6,608,005 (net of accumulated depreciation). This represents a net decrease of
$413,001. The District had no projects under construction at the end of 2019.
The following summarizes the District’s capital assets as of September 30, 2019 and 2018:

	 	2019		 	2018		 	Change		
Grading and stormwater management	$ 10,151,121	$ 10,151,121	$	-	
Roadway and transportation	 	173,893	 	173,893	 	-		
Total, prior to depreciation	 	10,325,014	 	10,325,014	 	-		
Accumulated depreciation	 	(3,717,009)	 	(3,304,008)	 	(413,001)	
Net capital assets	  $ 6,608,005	  $ 7,021,006	$	(413,001)	

Additional information on the District's capital assets can be found in Note (4) beginning on page 19 of this report.

Long-term Debt. At the end of the 2019 fiscal year, the District had total bonded debt and notes payable principal outstanding of $15,786,279

The following summarizes the District’s long-term debt as of September 30, 2019 and 2018:

	 	2019		 	2018		 	Change		
Series 2017	$ 13,975,000	$ 14,140,000	$ (165,000)	
Deferred Obligation	 	1,811,279	 	1,811,279 	 	-		
Total long-term liabilities	  $ 15,786,279	  $ 15,951,279	  $ (165,000)	

The District's long-term liabilities decreased by $165,000 during the current fiscal year. This decrease  was attributable to repayment of the Series 2017 bond.

Additional information on the District's long-term liabilities can be found in Note (5) beginning on page 20 of this report.

Other Factors

SWI Community Development District is an independent special district that operates under the provisions of Chapter 190, Florida Statutes. The District operates under an elected Board of Supervisors, which establishes policy and sets assessment rates. Budgeted developer contributions and user fee revenues for fiscal year 2019 were established to provide for the operations of the district as well as the necessary debt service requirements.

Requests for Information

This financial report is designed to provide a general overview of the District's finances for all those with an interest in the government's finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to the SWI Community Development District’s management company at 12051 Corporate Blvd., Orlando, Florida 32817.

BASIC FINANCIAL STATEMENTS

SWI COMMUNITY DEVELOPMENT DISTRICT STATEMENT OF NET POSITION
SEPTEMBER 30, 2019

	Governmental
 	Activities		
ASSETS
Cash and cash equivalents	
$	270,605	
Receivables, net	40,085	
Due from developer	4,554	
Prepaids	5,824	
Capital assets:
Other capital assets, net of depreciation	
6,608,005	
Total assets	$	6,929,073	
LIABILITIES
Accounts payable and accrued liabilities	
$	4,154	
Due to developer	531,831	
Unearned revenue	5,883	
Accrued interest payable	218,579	
Noncurrent liabilities:
Due within one year:		
Bonds and notes payable	170,000	
Due in more than one year:
Bonds and notes payable	
15,616,279	
Total liabilities	$ 16,546,726	
NET POSITION
Net investment in capital assets	
$	(9,178,274)	
Unrestricted	(439,379)	
Total net position	$	(9,617,653)	

The accompanying notes to financial statements are an integral part of this statement.

SWI COMMUNITY DEVELOPMENT DISTRICT STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2019

Net (Expense) Revenue and Chan

 	Program Revenues	
Operating	Capital

  in Net Position

Charges for		Grants and		Grants and		Governmental Functions/Programs		 	Expenses	 	Services	 Contributions	 Contributions	 		Activities	

Governmental activities: General government

$	474,148

$	595,854	$

62,858	$

-	$	184,564

Interest on long-term debt		584,986		-		-	-	(584,986) Total governmental activities	1,059,134	595,854	62,858	-	(400,422)

Change in net position	(400,422)	
Net position - beginning of year	(9,217,231)	
Net position - ending of year	$ (9,617,653)	

The accompanying notes to financial statements are an integral part of this statement.

SWI COMMUNITY DEVELOPMENT DISTRICT BALANCE SHEET
GOVERNMENTAL FUNDS SEPTEMBER 30, 2019

	
General
 	Fund			
Debt Service
 	Fund			Total Governmental
 	Funds		
ASSETS
Cash and cash equivalents	
$	15,677		
$	254,928		
$	270,605	
Receivables, net	-		40,085		40,085	
Due from developer	4,554		-		4,554	
Prepaid items	5,824		-		5,824	
Total assets	$	26,055		$	295,013		$	321,068	
LIABILITIES
Accounts payable and accrued liabilities	
$	4,154		
$	-		
$	4,154	
Unearned revenue	5,883		-		5,883	
Due to developer	-		531,831		531,831	
Total liabilities	10,037		531,831		541,868	

FUND BALANCES
Nonspendable: Prepaid items	

5,824		

-		

5,824	
Unassigned	10,194		(236,818)		(226,624)	
Total fund balances	16,018		(236,818)		(220,800)	
Total liabilities, deferred inflows of resources, and fund balances	
$	26,055		
$	295,013		
$	321,068	

The accompanying notes to financial statements are an integral part of this statement.

SWI COMMUNITY DEVELOPMENT DISTRICT RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF NET POSITION SEPTEMBER 30, 2019

Fund balances - total governmental funds	$	(220,800)

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

Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds
Total governmental capital assets	10,325,014
Less: accumulated depreciation	(3,717,009)	6,608,005

Long-term liabilities, including bonds payable and notes payable, are not due and payable in the current period and, therefore, are not reported in the funds. These liabilities, deferred outflows, and other debt-related deferred charges consist of the following:
Bonds and notes payable	(15,786,279)		
Accrued interest payable	(218,579)		(16,004,858)	
				
Net position of governmental activities			$ (9,617,653)	

The accompanying notes to financial statements are an integral part of this statement.

- 12 -

SWI COMMUNITY DEVELOPMENT DISTRICT
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2019

 	General	
Revenues	

   Debt Service 	Total Governmental
 	Funds		
Developer contributions	$	62,858		$	-	$	62,858	
User fee revenues	-		597,223	597,223	
Total revenues	62,858		597,223	660,081	
Expenditures
Current:
General government	

61,147		

-	

61,147	
Debt service:						
Principal retirement	-		165,000		165,000	
Interest and fiscal charges	-		534,320		534,320	
Total expenditures	61,147		699,320		760,467	
Net change in fund balances	1,711		(102,097)		(100,386)	
Fund balances, beginning of year	14,307		(134,721)		(120,414)	
Fund balances, end of year	

$	16,018		

$	(236,818)		

$	(220,800)	

The accompanying notes to financial statements are an integral part of this statement.

- 13 -

SWI COMMUNITY DEVELOPMENT DISTRICT 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, 2019

Net change in fund balances - total governmental funds	$	(100,386)

Differences in amounts reported for governmental activities in the statement of activities are:

Governmental funds report capital outlays as expenditures. However, in the statement of activities, the cost of those assets is depreciated over their estimated useful lives.
Depreciation expense	(413,001)

Bond and loan proceeds are reported as financing sources in the governmental funds. However, the issuance of debt is reported as long-term debt payable in the statement of net position.
Repayment of bond and note principal is an expenditure in the governmental funds, but
the repayment of debt principal reduces long-term liabilities in the statement of net position. These amounts are as follows:
Principal repayment of general long-term debt	165,000

Receviables not considered to be available for current use are reported as deferred inflows
of resources in the fund level statements.	(1,369)

Under the modified accrual basis of accounting used in the governmental funds, expenditures   are not recognized for transactions that are not normally paid with expendable available financial resources. In the statement of activities, however, which is presented on the accrual basis, expenses and liabilities are reported regardless of when financial resources are available. In addition, interest on long-term debt is not recognized under the modified accrual basis of accounting until due, rather than as it accrues. These adjustments are as follows:
Change in accrued interest on long-term debt	(50,666)

Change in net position of governmental activities	$	(400,422)

The accompanying notes to financial statements are an integral part of this statement.

- 14 -

SWI COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2019

Summary of Significant Accounting Policies:

The financial statements of the SWI Community Development District (the District), have been prepared in conformance with accounting principles generally accepted in the United States of America as applicable to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted body for promulgating governmental accounting and financial reporting principles and the District has adopted the GASB Codification. The following is a summary of the District’s significant accounting policies:

Reporting entityThe SWI Community Development District (the “District”) was established on November 2, 2007 pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes, by City of Port Orange Ordinance 2007‐
52. The Act provides, among other things, the power to manage basic services for community development, to borrow money and issue bonds, and to levy non‐ad valorem assessments for the financing and delivery of capital infrastructure.

The District was established for the purposes of financing and managing the acquisition, construction, maintenance, and operation of a portion of the infrastructure necessary for community development within the District.

The District is governed by a Board of Supervisors (the Board), which is comprised of five  members. The Supervisors are elected on an at-large basis by the owners of the property within the District. The Board exercises all powers granted to the District pursuant to Chapter 190, Florida Statutes. Certain Board members are affiliated with Port Orange Town Center, LLC (the  Developer).

The Board has the final responsibility for allocating and levying assessments, approving budgets, exercising control over facilities and properties, controlling the use of funds generated by the District, approving the hiring and firing of key personnel, financing improvements, and other key matters of the District.

In evaluating how to define the government, for financial reporting purposes, management has considered all potential component units. The decision to include or exclude a potential component unit in the reporting entity was made by applying the criteria set forth by Generally Accepted Accounting Principles (GAAP) as defined by the Governmental Accounting Standards Board (GASB). Based on the foregoing criteria, no potential component units were found.

Government-wide and fund financial statementsThe government-wide financial statements (i.e., the statement of net position and the statement of changes in net position) report aggregated information for the overall government for all of the activities of the primary government. These statements do not report fiduciary funds or fiduciary component units such as retirement trust funds. Those activities are reported only in fund financial statements. The effect of interfund activity has been removed from these statements.

Governmental activities, which normally are supported by assessments, are reported separately from business-type activities, which are financed wholly or partially by fees charged to external parties  for goods or services and are reported in enterprise funds. However, at September 30, 2019, the District did not have any significant business‐type activities. Therefore, no business‐type activities are reported.

SWI COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2019

(1)	Summary of Significant Accounting Policies: (Continued)

The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Indirect costs are included in the program expense reported for individual functions and activities. Program revenues include (1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment and (2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Assessments and other items not properly included as program revenues (i.e., charges to customers or applicants who purchase, use, or directly benefit from goods or services) are reported as general revenues.

Separate financial statements are provided for each governmental fund. Major individual governmental funds are reported as separate columns in the fund financial statements.

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

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

Developer contributions, user fee revenue, and interest associated with the current fiscal period are all considered to be susceptible to accrual and have been recognized as revenues of the current fiscal period. All other revenue items are considered to be measurable and available only when cash is received by the District. Certain grant funds have been received in advance and are considered unearned revenue until such time as they are expended as part of the infrastructure construction project.

The District reports the following major governmental funds:

General Fund-The General Fund is the principal fund of the District which accounts for all financial transactions not accounted for in other funds. The majority of current operating expenditures of the District other than proprietary fund activities are financed through revenues received by the General Fund.

Debt Service Fund-The Debt Service Fund is used to account for the accumulation of resources for the annual payment of principal and interest on long-term debt.

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

SWI COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2019

(1)	Summary of Significant Accounting Policies: (Continued)

Amounts reported as program revenues include 1) charges to customers for goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments (when applicable). Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes.

Budgets and budgetary accountingThe District is required to establish a budgetary system and an approved annual budget. Annual budgets are legally adopted on a basis consistent with GAAP for the General Fund. Any revision to the budget must be approved by the Board. The budgets are compared to actual expenditures. In instances where budgeted appropriations and estimated revenues have been revised during the year, budget data presented in the financial statements represent final authorization amounts. The legal level of control is at the fund level.

The District follows these procedures in establishing the budgetary data reflected in the financial statements:

Each year the District Manager submits to the District Board a proposed operating budget for the fiscal year commencing the following October 1.
A public hearing is conducted to obtain comments.
Prior to October 1, the budget is legally adopted by the District Board.
All budget changes must be approved by the District Board.
Budgets are adopted on a basis consistent with accounting principles generally accepted in the United States of America.

Deposits and investmentsThe District’s cash and cash equivalents are considered to be cash on hand, demand deposits, and short-term investments with original maturities of three months or less from the date of acquisition.

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

Capital assetsCapital assets, which include primarily infrastructure assets (e.g., roads, sidewalks, water management systems and similar items), are reported in the governmental  activities column in the government-wide financial statements. Capital assets are defined by the District as assets with an initial/individual cost of more than $5,000 and an estimated useful life in excess of two years. Such assets are recorded at historical cost and estimated historical cost if purchased or constructed. Donated assets are recorded at acquisition value at the date of donation.

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

Capital assets of the primary government are depreciated using the straight‐line method over the estimated useful lives. Estimated useful lives for financial reporting purposes are as follows:

Assets	Years
 
Roadway and transportation	25 years
Grading and stormwater management	25 years

In the governmental fund financial statements, amounts incurred for the acquisition of capital assets are reported as fund expenditures. Depreciation expense is not reported in the governmental fund financial statements.

SWI COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2019

(1)	Summary of Significant Accounting Policies: (Continued)

Long-term obligationsIn the government-wide financial statements, long-term debt and other long-term obligations are reported as liabilities in the statement of net position. Original issue bond premiums and discounts are deferred and amortized over the life of the bonds using the straight-line or effective interest method. Bonds payable are reported net of the applicable bond premium or discount. In the fund financial statements, governmental fund types recognize premiums and discounts, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuance are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

Fund equityIn the fund financial statements, governmental funds report fund balance classifications that comprise a hierarchy based primarily on the extent to which the District is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. Those classifications are as follows:

Nonspendable – The nonspendable fund balance classification includes amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact.

Restricted – Fund balance is reported as restricted when constraints placed on the use of resources are either externally imposed by creditors (such as through debt covenants), grantors, contributors, or laws or regulations of other governments or imposed by law through constitutional provisions or enabling legislation (i.e., when the government assesses, levies, charges, or otherwise mandates payment of resources (from external resource providers) and includes a legally enforceable requirement that those resources be used only for the specific purposes stipulated in the legislation

Committed – Fund balance amounts that can only be used for specific purposes pursuant to constraints imposed by ordinance of the District Board are reported as committed fund balance.

Assigned – Fund balance amounts that are constrained by the government's intent to be used for specific purposes, but are neither restricted nor committed, are reported as assigned fund balance, except for stabilization arrangements.

Unassigned – Unassigned fund balance is the residual classification for the general fund. This classification represents fund balance that has not been assigned to other funds and that has not been restricted, committed, or assigned to specific purposes within the general fund.

When both restricted and unrestricted resources are available for use, it is the District’s policy to use restricted resources first, then unrestricted resources as they are needed. When committed, assigned, or unassigned resources are available for use in the governmental fund financial statements, it is the government’s policy to use committed resources first, followed by assigned resources, then unassigned resources as needed.

Net position flow assumptionSometimes the District will fund outlays for a particular purpose from both restricted and unrestricted resources. In order to determine amounts reported as restricted and unrestricted net position, it is the District’s policy to consider restricted net position to have been used before unrestricted net position is applied.

Impact feesThe District has not adopted any ordinances or resolutions to levy impact fees in accordance with Section 163.31801, Florida Statutes.

SWI COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2019

Summary of Significant Accounting Policies: (Continued)

Use of estimatesManagement uses estimates and assumptions in preparing financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenue and expenses. Actual results could vary from the estimates assumed in preparing the financial statements.

Reconciliation of Government-Wide and Fund Financial Statements:

Explanation of certain differences between the governmental fund balance sheet and the government-wide statement of net positionFollowing the governmental fund balance sheet is a reconciliation between fund balance – total governmental funds and net position – governmental activities as reported in the government-wide statement of net position. A detailed explanation of these differences is provided in this reconciliation.

Explanation of certain differences between the governmental fund statement of revenues, expenditures, and changes in fund balances and the government-wide statement of activities Following the governmental fund statement of revenues, expenditures, and changes in fund balances, there is a reconciliation between net changes in fund balances - total governmental funds and changes in net position of governmental activities as reported in the government-wide statement of activities. A detailed explanation of these differences is provided in this reconciliation.

Deposits and Investments:

The District’s cash and cash equivalents consist of legally authorized demand deposits in accordance with Section 218.415, Florida Statutes. The institutions in which these deposits are kept are certified as Qualified Public Depositories under the Florida Public Deposits Act. Therefore, in addition to applicable Federal Depository Insurance Corporation (FDIC) insurance, these balances on deposit at September 30, 2019, are insured or collateralized through the Bureau of Collateral Management, Florida Department of Financial Services. The District was exposed to no significant custodial credit or other risk related to its cash and investment activities.

Capital Assets:
Capital asset activity for the fiscal year ended September 30, 2019, is as follows:

Beginning
Balance	Increases	Decreases

Ending Balance

Governmental activities:
Capital assets, being depreciated 		
Grading and stormwater management	$	10,151,121		$	-		$	-		$	10,151,121	
Roadway and transportation	 	173,893		 	-		 	-			 	173,893	
Total capital assets, being depreciated	10,325,014		-	-		10,325,014	
Less accumulated depreciation for Grading and stormwater management	
(3,248,360)		
(406,045)	
-		
(3,654,405)	
Roadway and transportation	 	(55,648)		 	(6,956)	 	-			 	(62,604)	
Total accumulated depreciation	 	(3,304,008	) 	(413,001) 	-	 	(3,717,009)	
Governmental activities capital assets, net	$	7,021,006		$	(413,001)	$	-			$	6,608,005	

Depreciation expense of $413,001 was charged to the general government function on the statement of activities.

SWI COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2019

Long-Term Liabilities:
Long-term liability activity for the year ended September 30, 2019, was as follows:
Beginning
Balance	Additions	Deletions

Ending Balance

Due Within One Year

Governmental activities:

Series 2017	$ 14,140,000	$	-	$	(165,000)	$ 13,975,000	$	170,000	
Deferred Obligation	 	1,811,279	 	-	 	-		 	1,811,279	 	-		
Governmental activities –	$ 15,951,279	$	-	$	(165,000)	$ 15,786,279	$	170,000	

Bonds payable:

Total long-term liabilities

Bonds and notes payable in the District’s governmental activities at September 30, 2019, were comprised of the following obligations:

Series 2017 Capital Improvement Bond, was issued to refinance the amounts outstanding on the Series 2010 Note, due in payments of principal plus interest at 3.80% semi-annually on May 1 and November 1 of each year until
final maturity on November 1, 2056. Pledged by user fee revenues.	$ 13,975,000

Annual debt service requirements to maturity for the District’s governmental activities bonds and notes payable are as follows:

Year Ending

     Capital Improvement Bonds	

September 30,	Principal		Interest		Total	
2020	$	170,000		$	527,820		$	697,820	
2021	175,000		521,265		696,265	
2022	185,000		514,425		699,425	
2023	190,000		507,300		697,300	
2024	195,000		499,985		694,985	
2025-2029	1,110,000		2,379,180		3,489,180	
2030-2034	1,325,000		2,148,425		3,473,425	
2035-2039	1,610,000		1,870,170		3,480,170	
2040-2044	1,930,000		1,534,820		3,464,820	
2045-2049	2,330,000		1,131,450		3,461,450	
2050-2054	2,805,000		644,955		3,449,955	
2055-2056	 	1,950,000		 	113,050		 	2,063,050	
Total	 $    13,975,000       $   12,392,845	$	26,367,845
Certain costs advanced by the Developer for capital improvements exceeded the original principal amount of the Series 2010 Note. The difference is evidenced by a non-interest bearing Deferred Obligation payable from excess user fee revenues as they are available. At September 30, 2019, the balance of this deferred obligation totaled $1,811,279.

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; injuries to employees; and natural disasters, all of which is satisfactorily insured by limited risk, high deductible commercial general liability insurance. Commercial insurance policies are also obtained for other risks of loss, including employee health and accident insurance. Settled claims resulting from these risks have not exceeded commercial insurance coverage in any of the past three years.

SWI COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2019

Management Company:

The District has contracted with a management company to perform management advisory services, which include financial and accounting advisory services. Certain employees of the management company also serve as officers (Board appointed non‐voting positions) of the District. Under the agreement, the District compensates the management company for management, accounting, financial reporting, and other administrative costs. For the period ended September 30, 2019, the District paid the management company $30,000 and had a payable to the management company for $2,637 at year end.

Related Party Transactions:

The Developer contributed $59,966 during the year for operations and maintenance costs in connection with an agreement to fund certain expenditures as they are incurred. Approximately $4,989 is due from the Developer at September 30, 2019. In addition, as detailed in Note (5), the District has a remaining Deferred Obligation payable to the Developer in the amount of $1,811,279.

A User Fee of 1% is charged on all sales made at retail locations within District boundaries, and the revenue was used to pay interest on the Note as it was available. In prior years, however, the District did not receive enough User Fee revenue to make interest payments in full as they came due. At September 30, 2019, cumulative missed payments totaled $531,831.

A significant portion of the District’s activity is dependent upon the continued involvement of the Developer, Port Orange Town Center, LLC, the loss of which could have a material adverse effect on the District’s operations.

Subsequent Events:

Subsequent to September 30, 2019, local, U.S., and world governments have encouraged self-isolation to curtail the spread of the global pandemic, coronavirus disease (COVID-19), by mandating temporary work stoppage in many sectors and imposing limitations on travel and size and duration of group meetings. Most industries are experiencing disruption to business operations and the impact of reduced consumer spending and investment markets have been substantially impacted. There is unprecedented uncertainty surrounding the duration of the pandemic, its potential economic ramifications, and any government actions to mitigate them. Accordingly, while management cannot quantify the financial and other impact to the District as of June 29, 2020, management believes that a material impact on District’s financial position and results of future operations is reasonably possible.

REQUIRED SUPPLEMENTARY INFORMATION

SWI COMMUNITY DEVELOPMENT DISTRICT
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL - GENERAL FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2019

Revenues

Variance with
Budgeted Amounts	Final Budget - Positive
 	Original	 	Final	 	Actual	 (Negative)	

Developer contributions

$	79,825	$

79,825	$

62,858

$	(16,967)

Expenditures
Current:
General government	79,825		79,825		61,147		18,678	
Net change in fund balances	-		-		1,711		1,711	
Fund balances, beginning of year	14,307		14,307		14,307		-	
Fund balances, end of year	$	14,307		$	14,307		$	16,018		$	1,711	

The accompanying notes to financial statements are an integral part of this statement.

ADDITIONAL INFORMATION

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,
SWI Community Development District:

We have audited, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to the financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities and each major fund of the SWI Community Development District (the District), as of and for the year ended September 30, 2019, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements and have issued our report thereon dated June 29, 2020.

Internal Control over Financial Reporting

In planning and performing our audit of the financial statements, we considered the District's internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.

Compliance and Other Matters

As part of obtaining reasonable assurance about whether the District's financial statements are free 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.

Daytona Beach, Florida June 29, 2020

INDEPENDENT AUDITORS’ MANAGEMENT LETTER REQUIRED BY CHAPTER 10.550, RULES OF THE STATE OF FLORIDA OFFICE OF THE AUDITOR GENERAL

To the Board of Supervisors,
SWI Community Development District:

Report on the Financial Statements

We have audited the financial statements of the SWI Community Development District, as of and for the fiscal year ended September 30, 2019, and have issued our report thereon dated June 29, 2020.

Auditors’ Responsibility

We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and Chapter 10.550, Rules of the Florida Auditor General.

Other Reporting Requirements

We have issued our Independent Auditors’ Report on Internal Control over Financial Reporting and Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; and Independent Accountant’s Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated June 29, 2020, 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 annual financial audit report. There were no such findings and recommendations.

Official Title and Legal Authority

Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in this management letter, unless disclosed in the notes to the financial statements. The legal authority for the primary government of the reporting entity is disclosed in Note 1 of the basic financial statements.

Financial Condition and Management

Sections 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 the District has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and identification of the specific condition(s) met. In connection with our audit, we determined that the District did not meet any of the conditions described in Section 218.503(1), Florida Statutes.

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 the District. It is management’s responsibility to monitor the District’s financial condition, and our financial condition assessment was based in part on representations made by management and review of financial information provided by 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.

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

Daytona Beach, Florida June 29, 2020

INDEPENDENT ACCOUNTANTS’ EXAMINATION REPORT

To the Board of Supervisors,
SWI Community Development District:

We have examined the SWI Community Development District’s (the District) compliance with Section 218.415, Florida Statutes, Local Government Investment Policies, for the year ended September 30, 2019. Management is responsible for the District’s compliance with those requirements. Our responsibility is to express an opinion on the District’s compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the District complied with Section 218.415, Florida Statutes, Local Government Investment Policies, for the year ended September 30, 2019, in all material respects. An examination involves performing procedures to obtain evidence about the District’s compliance with those requirements. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of risks of material noncompliance with those requirements, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion.

In our opinion, the SWI Community Development District complied, in all material respects, with the aforementioned requirements for the year ended September 30, 2019.

Daytona Beach, Florida	 June 29, 2020

SWI
COMMUNITY DEVELOPMENT DISTRICT

Funding Request Numbers 139-145

SWI
COMMUNITY	DEVELOPMENT	DISTRICT

Funding Request 139
01/09/20

Payee

Invoice#

General Fund FY19

General Fund FY20

1	PFM Group Consulting LLC		
	Dist. Mgmt Dec 2019	DM-12-2019-0066	$	2,500.00	
	Website Fee Dec 2019	DM-11-2019-0067	$	100.00	
	Postage Oct 2019	OE-EXP-00495	$	2.00	
TOTAL	$		$	2,602.00	

CHECK AMOUNT REQUESTED	$2,602.00

Secretary I Asst. Secretary	Chair/ Vice Chairman

SWI
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Funding Request 140	
02/25/20				
	Payee		General	
		Invoice #	Fund FY20	

1	
PFM Group Consulting LLC			
	Dist. Mgmt Jan 2020	DM-01-2020-0066	$	2,500.00	
	Website Fee Jan 2020	DM-01-2020-0067	$	100.00	
	Dist. Mgmt Feb 2020	DM-02-2020-0066	$	2,500.00	
	Website Fee Feb 2020	DM-02-2020-0067	$	100.00	
	Postage Nov 2019	OE-EXP-00583	$	1.50	
	Postage Dec 2019	OE-EXP-00640	$	1.00	
	Postage Jan 2020	OE-EXP-00698	$	6.50	
		TOTAL	$	5,209.00	
	
CHECK AMOUNT REQUESTED	
$5,209.00	
	Secretary / Asst. Secretary	Chair / Vice Chairman	

SWI
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Funding Request 141	
05/06/20					
	Payee			General	
		Invoice #		Fund FY20	

1	
Cobb Cole				
	Legal Svcs Feb 2020	161402		$	27.00	
2	MUFG Union Bank N.A				
	FY20 Annual Admin Fee	1198576		$	3,070.00	
3	PFM Group Consulting LLC				
	Dist. Mgmt Mar 2020	DM-03-2020-0066		$	2,500.00	
	Website Fee Mar 2020	DM-03-2020-0067		$	100.00	
	Dist. Mgmt Apr 2020	DM-04-2020-0066		$	2,500.00	
	Website Fee Apr 2020	DM-04-2020-0067		$	100.00	
		TOTAL			
				$	8,297.00	
	CHECK AMOUNT REQUESTED		
				$8,297.00	
		Chair / Vice Chairman			
	Secretary / Asst. Secretary				

SWI
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Funding Request 142	
05/21/20	

Payee	General	
Invoice #	Fund FY20	

1	James Moore		
	Audit FY2019	711803	

$	1,750.00

2	PFM Group Consulting LLC		
	Dist. Mgmt May 2020	DM-05-2020-0066	
	Website Fee May 2020	DM-05-2020-0067	

$	2,500.00	
$	100.00	

3	VGlobal Tech		
	Quarterly ADA Audit	1596	

$	300.00

TOTAL	$	4,650.00

CHECK AMOUNT REQUESTED	$4,650.00

Secretary / Asst. Secretary	Chair / Vice Chairman	

Secretary I Asst. Secretary

SWI
COMMUNITY	DEVELOPMENT	DISTRICT

Funding Request 143
06/22/20

Payee		General	
	Invoice #	Fund FY20	

1	Daytona News-Journal			
Legal Ad 05/09/2020		$	577.29	
2	PFM Group Consulting LLC			
Dist. Mgmt Jun 2020	DM-06-2020-0060	$	2,500.00	
Website Fee Jun 2020	DM-06-2020-0061	$	100.00	
Postage Feb 2020	OE-EXP-00757	$	1.00	
Postage Mar 2020	OE-EXP-00803	$	0.50	
Postage Apr 2020	OE-EXP-00864	$	0.50	
	TOTAL

CHECK AMOUNT	$	3,179.29	

SWI
C O M M U N I T Y	D E V E L O P M E  N T	D I S T R I C T

Funding Requ est 144
07/22/20

Payee	
Invoice#	General
Fund FY20		

Cobb Cole				
Legal Svcs May 2020	163581	$	428.91		
2	James Moore
Audit FY2019	
714922	
$	3,700.00		
3	LTG, Inc
Engineering Svcs Thru 06/14/2020	
2020-0892	
$	200.00		
4	PFM Group Cons ulting LLC				
Dist. Mgmt Jul 2020	DIVl-07-2020-0058	$	2,500.00		
W ebsite Fee Jul 2020	DM-07-2020-0059	$	100.00		
	TOTAL	$	6,928.91		

CHEC K AM OUNT REQ ES

$6, 928.91

Secretary/ Asst. Secretary

SWI
COMMUNITY	DEVELOPMENT	DISTRICT

Funding Request 145
08/11/20

Payee	
Invoice #		General
Fund FY20		

1	Cobb Co le					
Legal Svcs Jun 2020	164345		$	280.00		
2	PFM Group Consulting LLC
Postage Jun 2020	
OE-EXP-00971		
$	1.50		
3	VGlobal Tech
Quarterly ADA Audit	
1760		
$	300.00		
	TOTAL		$	581.50		

CHECK AMOUNT REQUESTED

Secretary / Asst. Secretary

SWI
COMMUNITY DEVELOPMENT DISTRICT

District’s Financial Position

SWI CDD	
Statement of Financial Position	
As of 7/31/2020	

General Fund

Debt Service
Fund

General Fixed Asset Group

Long Term Debt
Group

Total

Assets

Current Assets
General Checking Account
Accounts Receivable - Due from Developer Prepaid Expenses
Debt Service Reserve 2017 Bond Interest 2017 Bond
Total Current Assets

$16,076.55	
6,928.91	
883.33	

$23,888.79

 	

$16,076.55	
6,928.91	
883.33	
55,662.00	
78,944.32	
$158,495.11	

$55,662.00	
78,944.32	
$134,606.32	

$0.00	$0.00

 	 	

$134,606.32	$134,606.32	
13,815,393.68	13,815,393.68	
$13,950,000.00	$13,950,000.00	

Investments		
Amount Available in Debt Service Funds		
Amount To Be Provided		
Total Investments	$0.00	

$6,791,097.00	
6,400.00	
$6,797,497.00	

$6,791,097.00	
6,400.00	
$6,797,497.00	

Property, Plant & Equipment		
Other Fixed Assets (2008)		
Other Fixed Assets (2010)		
Total Property, Plant & Equipment	$0.00	

$0.00	$0.00

	$0.00				$0.00		
Total Assets	$23,888.79		$134,606.32		$6,797,497.00		$13,950,000.00		$20,905,992.11	

$531,831.00	
$531,831.00	

Liabilities and Net Assets

Current Liabilities Accounts Payable Deferred Revenue Due to Note Holders
Total Current Liabilities

$6,928.91	
6,928.91	

$13,857.82

 	

$6,928.91	
6,928.91	
531,831.00	
$545,688.82	

$0.00	$0.00

$15,013.28	
1,004.59	
(5,986.90)	
(216,818.10)	
(160,406.58)	
(20,000.00)	
6,797,497.00	
$0.00	$6,410,303.29	

$6,797,497.00	
$6,797,497.00	

Net Assets		
Net Assets, Unrestricted	$15,013.28	
Net Assets - General Government	1,004.59	
Current Year Net Assets - General Government	(5,986.90)	
Net Assets, Unrestricted		
Current Year Net Assets, Unrestricted		
Net Assets - General Government		
Net Assets, Invd in Capital, Net of Debt		
Total Net Assets	$10,030.97	

 	

$13,950,000.00		$13,950,000.00	
$13,950,000.00		$13,950,000.00	

Long Term Liabilities		
Revenue Bonds Payable - Long-Term		
Total Long Term Liabilities	$0.00	

$0.00	$0.00

Total Liabilities	$13,857.82	$531,831.00	$0.00	$13,950,000.00	$14,495,688.82

($216,818.10)	
(160,406.58)	
(20,000.00)	

($397,224.68)

Total Liabilities and Net Assets	$23,888.79	$134,606.32	$6,797,497.00	$13,950,000.00	$20,905,992.11

SWI CDD	
Statement of Activities	
As of 7/31/2020	

Revenues

General Fund

$36,062.45

Debt Service
Fund

General Fixed Asset Group

Long Term Debt
Group

Total

$25,000.00	
530,575.00	
$555,575.00	

 	 

$36,062.45	
395,168.42	
$431,230.87	

$395,168.42	
$395,168.42	

Developer Contributions	
User Fee Revenue	
Total Revenues	

$36,062.45	$0.00	$0.00

$3,070.00	
25,000.00	
200.00	
1,079.41	
5,450.00	
13.00	
820.94	
1,300.00	
175.00	
4,941.00	
25,000.00	
530,575.00	
$597,624.35	

Trustee Services	
Management	
Engineering	
District Counsel	
Audit	
Postage & Shipping	
Legal Advertising	
Web Site Maintenance	
Dues, Licenses, and Fees	
General Insurance	
Principal Payments - 2017 bond	
Interest Payments - 2017 bond	
Total Expenses	

Expenses

$3,070.00	
25,000.00	
200.00	
1,079.41	
5,450.00	
13.00	
820.94	
1,300.00	
175.00	
4,941.00	

Other Revenues (Expenses) & Gains (Losses)	$42,049.35				$0.00		$0.00		
Total Other Revenues (Expenses) & Gains (Losses)	$0.00		$0.00		$0.00		$0.00		$0.00	
Change In Net Assets	($5,986.90)		($160,406.58)		$0.00		$0.00		($166,393.48)	

Net Assets At Beginning Of Year	
$16,017.87		
($236,818.10)		
$6,797,497.00		
$0.00		
$6,576,696.77	

Net Assets At End Of Year	

$10,030.97		

($397,224.68)		

$6,797,497.00		

$0.00		

$6,410,303.29	

SWI CDD	
Budget to Actual	
For the Month Ending 07/31/2020	

Year To Date	
Actual	Budget	Variance	FY 2020
Adopted Budget	

Revenues	
Developer Contributions	
Net Revenues	

$36,062.45	$70,845.80	
$36,062.45	$70,845.80	

($34,783.35)	$85,015.00	
($34,783.35)	$85,015.00	

General & Administrative Expenses	
Supervisor Fees	
Trustee Services	
Management	
Engineering	
District Counsel	
Trustee Counsel	
Audit	
Travel and Per Diem	
Telephone	
Postage & Shipping	
Copies	
Legal Advertising	
Contingency	
Web Site Maintenance	
Dues, Licenses, and Fees	
General Insurance	
Total General & Administrative Expenses	

$0.00	$2,000.00	
3,070.00	3,333.30	
25,000.00	25,000.00	
200.00	4,583.30	
1,079.41	20,833.30	
0.00	1,666.70	
5,450.00	4,583.30	
0.00	41.70	
0.00	20.80	
13.00	83.30	
0.00	220.80	
820.94	2,083.30	
0.00	208.50	
1,300.00	2,000.00	
175.00	145.80	
4,941.00	4,041.70	
$42,049.35	$70,845.80	

($2,000.00)	$2,400.00	
(263.30)	4,000.00	
0.00	30,000.00	
(4,383.30)	5,500.00	
(19,753.89)	25,000.00	
(1,666.70)	2,000.00	
866.70	5,500.00	
(41.70)	50.00	
(20.80)	25.00	
(70.30)	100.00	
(220.80)	265.00	
(1,262.36)	2,500.00	
(208.50)	250.00	
(700.00)	2,400.00	
29.20	175.00	
899.30	4,850.00	
($28,796.45)	$85,015.00	

Total Expenses

Net Income (Loss)

 	$42,049.35 	$70,845.80	 	($28,796.45)	 	$85,015.00 ($5,986.90)		$0.00			($5,986.90)			$0.00

SWI
COMMUNITY DEVELOPMENT DISTRICT

Staff Reports