Founders Ridge Community Development District

Agenda July 27, 2021

A G ENDA

July 20, 2021

Founders Ridge
Community Development District
219 East Livingston Street, Orlando, Florida 32801 Phone: 407-841-5524- Fax: 407-839-1526

Board of Supervisors Founders Ridge Community Development District

Dear Board Members:

The regular meeting of the Board of Supervisors of the Founders Ridge Community Development District will be held Tuesday, Ju l y 27, 2021 at 9:00 AM at the Minneola City Hall, 800 N. U.S. Highway 27, Minneola, FL 34715. PLEASE NOTE THE TIME OF THE
MEETING. Following is the advance agenda for the meeting:

Audit Committee Meeting
Roll Call
IL	Public Comment Period
Approval of Minutes of May 26, 2021 Meeting
Tally of Audit Committee Members Rankings and Selection of an Auditor
Adjournment

Board of Supervisors Meeting
I.	Roll Call
IL	Public Comment Period
Approval of Minutes of the May 26, 2021 Meeting
Public Hearing
A. Consideration of Resolution 2021-09 Adopting the Fiscal Year 2022 Budget and Relating to the Annual Appropriations
Consideration of Fiscal Year 2021/2022 Budget Funding Agreement
Acceptance of Audit Committee Recommendation and Selection of #1 Ranked Firm to Provide Auditing Services for Fiscal Year 2021
VIL	Staff Reports
Attorney
Engineer
District Manager's Report
Balance Sheet and Income Statement
Ratification of FY21 Funding Requests #7 - 8
Approval of Fiscal Year 2022 Meeting Schedule
Supervisor's Requests
Adjournment

The second order of business of the Audit Committee Meeting is the Public Comment Period where the public has an opportunity to be heard on propositions coming before the Board as reflected on the agenda, and any other items. The third order of business is approval of minutes

of May 26, 2021 meeting. A copy of the minutes are enclosed for your review. The fourth order of business is the tally of the audit committee members rankings and selection of an auditor. Rankings from all audit committee members will be tallied at the meeting to develop an overall audit committee ranking. The RFP responses have been provided separately and the tally sheet has been enclosed in your agenda package.

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

The third order of business is approval of the minutes from the May 26, 2021 Board of Supervisors meeting. The minutes are enclosed for your review.

The fourth order of business opens the public hearing. Section A is consideration of resolution 2021-09 adopting the Fiscal Year 2022 budget and relating to the annual appropriations. A copy of the resolution is enclosed for your review.

The fifth order of business is consideration of Fiscal Year 2021/2022 budget funding agreement. A copy of the agreement is enclosed for your review.

The sixth order of business is acceptance of Audit Committee recommendation and selection of #1 ranked firm to provide auditing services for Fiscal Year 2021. There is no back-up.

Section C of the seventh order of business is the District Manager's Report. Section 1 includes the balance sheet and income statement for your review. Section 2 consideration of FY21 funding requests. Copies of the funding request and corresponding invoices are enclosed  for your review. Section 3 is approval of Fiscal Year 2022 meeting schedule.

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

r-	 	

Sincerely,

l.

George S. Flint District Manager

CC:	Tucker Mackie, District Counsel Darrin Mossing, GMS

Enclosures

AUDIT COMMITTEE MEETING

S ECTION Ill

MINUTES OF MEETING FOUNDERS RIDGE
COMMUNITY DEVELOPMENT DISTRICT

The Founders Ridge Community Development District Audit Committee  met Wednesday, May 26, 2021 at 12:12 p.m. in the Minneola City Hall, 800 N. U.S. Highway 27, Minneola, Florida.

Present were:

Aaron Blake Joe Zagame Darby Shields George Flint
Tucker Mackie by telephone
Robert Zebro Joan Manganaro

FIRST ORDER OF BUSINESS	Roll Call
Mr. Flint called the Audit Committee to order and called the roll.

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

THIRD ORDER OF BUSINESS	Audit Services
Approval of Request for Proposals and Selection Criteria
Mr. Flint stated this is our standard RFP we typically issue for auditing services. We are asking them to provide five years of pricing and the board would enter into one-year engagements, but we would be able to lock in five years of pricing.  The selection criteria are  laid out for the District, the only distinction is you could choose to exclude price as one of the criteria or include it; we recommend you include it because the services are price sensitive. You can modify the weighting of those criteria as well, right now we have them evenly weighted.

On MOTION by Mr. Blake seconded by Ms. Shields with all in favor the selection criteria was approved.

May 26, 2021	Founders Ridge CDD

Approval of Notice of Request for Proposals for Audit Services
Mr. Flint stated next is the form of the notice that will run in the newspaper and we are asking that the responses be back by July 12th so we will have those at the meeting later that month.

On MOTION by Mr. Blake seconded by Ms. Shields with all in favor the notice for the request for audit proposals was approved.

Public announcement of Opportunity to Provide Audit services
Mr. Flint stated we will publicly announce the opportunity for any qualified firms to provide a proposal in accordance with the RFP that was just approved.

On MOTION by Mr. Blake seconded by Ms. Shields with all in favor the Audit Committee meeting adjourned at 12:14 p.m.

Secretary/Assistant Secretary	Chairman/Vice Chairman

2

S ECTION IV

Founders Ridae COD Auditor Select1on	
	
Ability of Personnel
120 otsl	
Proposer's Exoerience 120 otsl	
Understanding of Scope of Work (20 ots)	
Ability to Furnish the Reauired Services (20 otsl	

Price (20 otsl	
Total Points Earned	
Ranking
(1 beina hiahest)	

Grau & Associates					2021 • $3,000
2022 - $3,100			
					2023 • $3,200
2024 - $3,300
2025 - $3,400			

Berger , Toombs , Elam, Gaines
& Frank					
2021 - $3,150
2022 - $3,315
2023 - $3,315			
					2024 - $3,485			
					2025 - $3,485			

Founders Ridge CDD Auditor Selection - Tally	

Aaron Blake	

Joe Zagame Jr	

Darby Sheilds	
Total Points Earned	
Ranking
(1 being highest)	

Grau & Associates						

Berger, Toombs, Elam, Gaines &
Frank						

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Grau& Associates
CERTIFIED PUBLIC ACCOUNTANTS

Proposal to Provide Financial Auditing Services:
FOUNDERS RIDGE
COMMUNITY DEVELOPMENT DISTRICT

Proposal Due: July 12, 2021 2:00PM

Submitted to:
Founders Ridge
Community Development District c/o District Manager
219 East Livingston Street Orlando, FL 32801

Submitted by:
Antonio J. Grau, Partner Grau & Associates
951 Yamato Road, Suite 280 Boca Raton, Florida 33431 Tel	(561) 994-9299
(800) 229-4728
Fax	(561) 994-5823
tgrau@graucpa.com www.graucpa.com

CERTIFIED PUBLIC ACCOUNTANTS

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

CERTIFIED PUBLIC ACCOUNTANTS

July 12, 2021

Founders Ridge Community Development District c/o District Manager
219 East Livingston Street Orlando, FL 32801

Re:	Request for Proposal for Professional Auditing Services for the fiscal year ended September 30, 2021, with an option forfour (4) additional annual renewals.

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

Special district audits are at the core of our practice: we have a total of 360 clients, 329 or 91o/o of which are special districts. We know the specifics of the professional services and work products needed to meet your RFP requirements like no other firm. With this level of experience, we are able to increase efficiency, to provide immediate and continued savings, and to minimize disturbances to client operations.

Why Grau & Associates:

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

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

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

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

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

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

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

--

Very truly yours, Grau & Associates
0
Antonio J. Grau

2

Firm Qualifications

Grau & Associates
"	CERTIFIED   PUBLIC ACCOUNTANTS

3

Grau's Focus and Experie nce

OurTeam

3	10	2

.•.••....
Partners	Professional Administrative
Staff	Professionals

,.

-,   Com.m. unity Development
:	--1-	Districts Served	

Properly registered and
licensed professional corporation by the state of FLORIDA

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

Year founded

Services Provided

See next page for report and certificate

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

AICPA I FICPA I GFOA I FASO I FGFOA

Grau&.Assodates
CEJr.Tll-1£0 PUBLIC ACCOUNTANTS	4

FlCPA

•
-	!notll.tle olc..rt'iiod Ml :C	,
FICPAPaer view Program
Admlnlateted In Fl(,
bv The Floi'icla 1nsdtute of CPAs

@	AICP,&;	
AK;PA P•Revlew Program
Aifmlnlslered In Florida
by the Fl	Institute of CPAs

February 20, 2020

Aritonio Grau Grau & Associ?lt s
951 Yamato Rd Ste 280
B_oca Raton, FL 33'431-1809 Dear Antonio Grau:
It is my ·pleasure to notify you that on Febfl!ary 20, 2020, the Florida Peer Review Committee accepted the creport on the most recent Sy stern Review.of your firm. The <:.iue date for your next revjew is Decemb.er 31, 2022. This is the date by' which all review documents should be completed arid submitted to the administering
.entity.

As you know, the report had· a peer review rating ·ot pass. The Committee asked me to convey its congratulations to the firm.

Thank you for your coeperation.

Siil 'i'·

flc:wt P-.	
Pe r Review Team
FlCPA Peer Review Committee paul@'icpa.org
800-342c3197 ext. 251

Florida Institute of CPAs

cc: Daniel Hevia, Racquel McIntosh

Firm Number 9000043'90114	Review Number 571202

3300 E$planacle Way, Suite 210 ITallahassee, FL 3231 II 8 00.342.3197, in Flotlda j 850.224.2727 I l'ax: BS0.222.8190 I www.licpa.otg

Grau&Assodates
I CEJlTIFIED PUBLIC M.:COUNTANTS	5

Firm & Staff Experience

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rKfr2  Grau& Associates
CERTIFIED PUBLIC ACCOUNTANTS

6

GRAU AND ASSOCIATES COMMUNITY DEVELOPMENT DISTRICT EXPERIENCE BY MANAGEMENT COMPANY

Profile Briefs:

Antonio J GRAU, CPA (Partner)
Years Performing Audits: 30+
CPE (last 2 years): Government Accounting, Auditing: 24 hours; Accounting, Auditing and Other: 56 hours
Professional Memberships: A/CPA, FICPA,FGFOA,GFOA

Racquel McIntosh, CPA (Partner)
Years Performing
Audits: 14+
CPE (last 2 years): Government Accounting, Auditing: 47 hours; Accounting, Auditing and Other: 58 hours
Professional Memberships: A/CPA, FICPA,FGFOA,FASD

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

7

YOUR ENGAGEMENT TEAM

Grau's client-specific engagement team is meticulously organized in order to meet the unique needs of each client. Constant communication within our solution team allows for continuity of staff and audit team.

Grau contracts with an outside group of IT management consultants to assist with matters including, but not limited to; network and database security, internet security and vulnerability testing.

An advisory consultant will be available as a sounding board to advise in those areas where problems are encountered.

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

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

V

Grau& Associates	8
CERTIFIED PUBLIC ACCOUNTAt-iTS

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

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

Clients Served (partial list)
(>300) Various Special Districts, including:

Bayside Improvement Community Development District Dunes Community Development District
Fishhawk Community Development District (I,11,IV) Grand Bay at Doral Community Development District Heritage Harbor North Community Development District

Boca Raton Airport Authority Greater Naples Fire Rescue District
Key Largo Wastewater Treatment District Lake Worth Drainage District
South Indian River Water Control

St. Lucie West Services District
Ave Maria Stewardship Community District Rivers Edge II Community Development District Bartram Park Community Development District
Bay Laurel Center Community Development District

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

Professional Education (over the last twoyears)
Course
Government Accounting and Auditing Accounting, Auditing and Other
Total Hours

lhnJJ:§.
24
56
8.0. (includes of 4 hours of Ethics CPE)

Grau&Assodates
CERTIFIED PUBLIC ACCOUNTANTS	9

Racquel C. McIntosh, CPA
Partner
Contact: rmcintosh@graucpa.com I (561) 939-6669

Experience
Racquel has been providing government audit, accounting and advisory services to our clients for over 14 years. She serves as the firm's quality control partner; in this capacity she closely monitors engagement quality ensuring standards are followed and maintained throughout the audit.
Racquel develops in-house training seminars on current government auditing, accounting, and legislative topics and also provides seminars for various government organizations. In addition, she assists clients with implementing new accounting software, legislation, and standards.

Education
Florida Atlantic University (2004) Master of Accounting
Florida Atlantic University (2003) Bachelor of Arts:
Finance, Accounting

Clients Served (partial list)
(>300) Various Special Districts, including:

Carlton Lakes Community Development District Golden Lakes Community Development District Rivercrest Community Development District South Fork III Community Development District TPOST Community Development District

East Central Regional Wastewater Treatment Facilities Indian Trail Improvement District
Pinellas Park Water Management District Ranger Drainage District
South Trail Fire Protection and Rescue Service District

Westchase Community Development District Monterra Community Development District
Palm Coast Park Community Development District Long Leaf Community Development District Watergrass Community Development District

Professional Associations/ Memberships
American Institute of Certified Public Accountants Florida Institute of Certified Public Accountants

Professional Education (over the last two years)
Course
Government Accounting and Auditing Accounting, Auditing and Other
Total Hours

FICPA State & Local Government Committee FGFOA Palm Beach Chapter

Hours
47
58
.10.5 (includes of 4 hours of Ethics CPE)

Grau&Assodates
CERTIFIED PUBLJCACCOllNTASTS	10

References

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

Dunes Community Development District

Scope of Work Engagement Partner Dates
Client Contact

Financial audit Antonio J. Grau Annually since 1998
Darrin Mossing, Finance Director 475 W. Town Place, Suite 114
St. Augustine, Florida 32092

 	904-940-5850	

Two Creeks Community Development District

Scope of Work Engagement Partner Dates
Client Contact

Financial audit Antonio J. Grau Annually since 2007
William Rizzetta, President 3434 Colwell Avenue, Suite 200
Tampa, Florida 33614

 	813-933-5571	

Journey's End Community Development District

Scope of Work Engagement Partner Dates
Client Contact

Financial audit Antonio J. Grau Annually since 2004
Todd Wodraska, Vice President
2501 A Burns Road
Palm Beach Gardens, Florida 33410

 	561-630-4922	

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Specific Audit Approach

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Grau& Associates
CERTIFIED PUBLIC ACCOUNTANTS

13

AUDIT APPROACH
Grau's Understanding of Work Product/ Scope of Services:
We recognize the District is an important entity and we are confident our firm is eminently qualified to meet the challenges of this engagement and deliver quality audit services. You would be a valued client of our firm and we pledge to commit all firm resources to provide the level and quality of services (as described below) which not only meet the requirements set forth in the RFP but will exceed those expe ctations. Grau & Associates fully understands the scope of professional services and work products requested. Our audit will follow the Auditing Standards of the AICPA, Generally Accepted Government Auditing Standards, issued by the Comptroller General of the United States, and
the Rules of the Auditor General of the State of Florida and any other applicable Federal, State of Local regulations. We will deliver our reports in accordance with your requirements.
Proposed segmentation of the engagement
Our approach to the audit engagement is a risk-based approach which integrates the best of traditional auditing techniques and a total systems concept to enable the team to conduct a more efficient and effective audit. The audit will be conducted in three phases, which are as follows:

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

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

Grau& Associates
CERTIHED l'UBLIC ACCOUNTA.""'TS	14

Phase II - Execution of Audit Plan
The audit team will complete a major portion of transaction testing and audit requirements during this phase. The procedures performed during this period will enable us to identify any matter that may impact the completion of our work or require the attention of management. Tasks to be performed in Phase II include, but are not limited to the following:
» Apply analytical procedures to further assist in the determination of the nature, timing, and extent of auditing procedures used to obtain evidential matter for specific account balances or classes of transactions;
»		Perform tests of account balances and transactions through sampling, vouching, confirmation and other analytical procedures; and
»	Perform tests of compliance.
Phase III - Completion and Delivery
In this phase of the audit, we will complete the tasks related to year-end balances and financial reporting. All reports will be reviewed with management before issuance, and the partners will be available to meet and discuss our report and address any questions. Tasks to be performed in Phase III include, but are not limited to the following:

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

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

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

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

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

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

15

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

Is the recommendation cost effective?

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

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

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

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

Communications
We emphasize a continuous, year-round dialogue between the District and our management team. We regularly communicate through personal telephone calls and electronic mail throughout the audit and on a regular basis.
Our clients have the ability to transmit information to us on our secure client portal with the ability to assign different staff with separate log on and viewing capability. This further facilitates efficiency as all assigned users receive electronic mail notification as soon as new information has been posted into the portal.

Grau&Assodates
CERTIFIED l•UBLIC ACCOUNTA."ITS	16

Cost of Services

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Grau& Associates
CERTIFIED PUBLIC ACCOUNTANTS

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Our proposed all-inclusive fees for the financial audit for the fiscal years ended September 30, 2021-2025 are as follows:

Year Ended September 30,	 	Fee		
2021	$3,000	
2022	$3,100	
2023	$3,200	
2024	$3,300	
2025	13...iO..Q.	
TOTAL (2021-2025)	 	$16,000	

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

Grau&Assodates
CERTIFIED PUBLIC ACCOUNT l'IJS	18

Supplemental Information

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CERTIFIED PUBLIC ACCOUNTANTS

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SPBCIAL DISTRICTS	.i.i.i
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Boca Raton Airport Authority					9/30	
Captain's Key Dependent District					9/30	
Central Broward Water Control District					9/30	
Collier Mosquito Control District					9/30	
Coquina Water Control District					9/30	
East Central Regional Wastewater Treatment Facility					9/30	
Florida Green Finance Authority					9/30	
Greater Boca Raton Beach and Park District					9/30	
Greater Naples Fire Control and Rescue District					9/30	
Green Corridor P.A.C.E. District					9/30	
Hebe-St. Lucie Conservancy District					9/30	
Indian River Mosquito Control District					9/30	
Indian Trail Improvement District					9/30	
Key Largo Waste Water Treatment District					9/30	
Lake Padgett Estates Independent District					9/30	
Lake Worth Drainage District					9/30	
Lealman Special Fire Control District					9/30	
Loxahatchee Groves Water Control District					9/30	
Old Plantation Control District					9/30	
Pal Mar Water Control District					9/30	
Pinellas Park Water Management District					9/30	
Pine Tree Water Control District (Broward)					9/30	
Pinetree Water Control District (Wellington)					9/30	
Ranger Drainage District					9/30	
Renaissance Improvement District					9/30	
San Carlos Park Fire Protection and Rescue Service District					9/30	
Sanibel Fire and Rescue District					9/30	
South Central Regional Wastewater Treatment and Disposal Board					9/30	
South-Dade Venture Development District					9/30	
South Indian River Water Control District					9/30	
South Trail Fire Protection & Rescue District					9/30	
Spring Lake Improvement District					9/30	
St. Lucie West Services District					9/30	
Sunshine Water Control District					9/30	
West Villages Improvement District					9/30	
Various Community Development Districts (297)					9/30	
TOTAL	333	5	3	328		

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CONSULTING / MANAGEMENT ADVISORY SERVICES

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

Accounting systems
Development  of budgets
Organizational structures
Financing alternatives
IT Auditing

Fixed asset records
Cost reimbursement
Indirect cost allocation
Grant administration and compliance

ARBITRAGE

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

73

Current Arbitrage Calculations

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

For even more information on Grau & Associates please visit us on www.2raucpa.com.

'U1

Grau&Associates
CERTIFIED rUBLIC ACCOUNTA:,..'TS	21

FOUNDERS RIDGE COMMUNITY DEVELOPMENT DISTRICT

PROPOSAL FOR AUDIT SERVICES

PROPOSED BY:

Berger, Toombs, Elam, Gaines & Frank CERTIFIED PUBLIC ACCOUNTANTS, PL

600 Citrus Avenue, Suite 200 Fort Pierce, Florida 34950

(772) 461-6120

CONTACT PERSON:

J. W. Gaines, CPA, Director

DATE OF PROPOSAL:

July 12, 2021

TABLE OF CONTENTS

DESCRIPTION OF SECTION	PAGE
A Letter of Transmittal	1-2
B. Profile of the Proposer

	Description and History of Audit Firm	3	
	Professional Staff Resources	4-5	
	Ability to Furnish the Required Services	5	
	Arbitrage Rebate Services	6	
A	Governmental Auditing Experience	7-16	
B.	Fee Schedule	17	
C.	Scope of Work to be Performed	17	
D.	Resumes	18-33	
E.	Peer Review Letter	34	
	Instructions to Proposers	35-36	

ti Berger, Toombs, Elam,
....o,,	Gaines & Frank
Cr,rtlfled  Public Accountants    PL
600 Citrus Avenue
Suite 200
Fort Pierce, Florida 34950
772/461-6120 // 461-1155
FAX: 772/468-9278 '

July 12, 2021

Founders Ridge Community Development District Governmental Management Services
219 East Livingston Street Orlando, FL 32801

Dear District Manager:

Thank you very much for the opportunity to present our professional credentials to provide audit services for Founders Ridge Community Development Distript.

Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL has assembled a team of governmental and nonprofit specialists second to none to serve our clients. Our firm has the necessary qualifications and experience to serve as the indep.endent auditors for Founders Ridge Community Development District. We will provide -you with top quality, responsive service.

Experience

Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL is a recognized leader in providing services to governmental and nonprofit agencies throughout Florida. We have been the independent auditors for a number of local governmental agencies and through our experience in performing their audits, we have been able to increase our audit efficiency and; therefore, reduce costs. We have continually passed this cost savings on to our clients and will continue to do so in the future. AS a result of our experience and expertise, we have developed an effective and efficient audit approach designed to meet or exceed the performance specifications 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 the standards for financial and compliance audits; We will conduct. the audit in accordance with auditing standards generally accepted in the United States of America; "Government Auditing Standards" issued by the Comptroller General of the United! States; the provisions of the Single Audit Act, Subpart F of Title 2 US Code of Federal Regulations (CFR) Part 200, Uniform Administrative· Requirements, Cost Principles, and Audit Requirements for Federal Awards, with minimal disruption to your operations. Our firm has frequent technical updates to keep our personnel informed and up-to-date on all changes that are occurring within the industry.

Member AICPA

Fort Pierce / Stuart
- 1 -
Member AICPA Division for CPA Firms
Private Companies practice Section

Member FICPA

Berger, Toombs, Elam,
Q:.P Gaines & Frank

Founders Ridge Community Development.District July 12, 2021

Our firm is a member of the Government Audit Quality Center, an organization dedicated to improving government audit quality. We also utilize the audit program software of a nationally recognized CPA firm to assure us that we are up to date with all auditing standards and to assist us maintain maximum audit efficiencies.

To facilitate your evaluation of our qualifications and experience, we have arranged this proposal to include a resume of our firm, including our available staff, our extensive prior governmental and nonprofit auditing experience and clients to be contacted.

You need a firm that will provide an efficient, cost-effective, high-quality audit within critical time constraints. You need a firm with the prerequisite governmental and nonprofit experience to perform your audit .according to stringent legal and regulatory requirements, a firm that understands the complex nature of community development districts and their unique compliance requirements. You need a firm with recognized governmental and nonprofit specialists within the finance and governmental communities. And, certainly, you need a firm that will provide you with valuable feedback to enhance your current and future operations. Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL is that firm. J. W. Gaines is the person authorized to make representations for the firm.

Thank you again for the opportunity to submit this proposal to Founders Ridge Community Development District.

Very truly yours,

0	J	.

i .	JamKJl>l f'id!Pv
01JiA.t<J 4 ·	1tat)	-
Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida

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PROFILE OF THE PROPOSER

Description and History of Audit Firm
Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL is a  Treasure Coast public accounting firm, which qualifies as a small business firm, as established  by  the Small Business Administration (13 CFR 121.38), with offices in Fort Pierce and Stuart. We are a member of the Florida Institute of Certified Public Accountants and the American Institute of Certified Public Accountants. The firm was formed from the merger of Edwards, Berger, Harris & Company (originated in 1972) and McAlpin, Curtis & Associates (originated in  1949).  J.  W. Gaines and Associates (originated in 1979) merged with the firm in  2004.  Our  tremendous growth rate experienced over the last 71 years is directly attributable to the firm's unrelenting dedication to providing the highest quality, responsive professional services attainable to  its clients.
We are a member of the Private Companies Practice Section (PCPS) of the American Institute of Certified Public Accountants (AICPA) to assure we meet the highest standards. Membership  in this practice section requires that our firm meet more stringent standards than standard AICPA membership. These rigorous requirements include the requirement of a triennial peer review of  our firm's auditing and accounting practice and annual Continuing Professional Education (CPE) for all accounting staff (whether CPA or non-CPA). For standard AICPA membership, only  a quality review is required and only CPAs must meet CPE requirements.
We are also a member of the Government Audit Quality Center ("the Center") of the American Institute of Certified Public Accountants to assure the quality of our government audits. Membership in the Center, which is voluntary, requires our firm to comply with  additional standards to promote the quality of government audits.
We have been extensively involved in serving local government entities with professional accounting, auditing and consulting services throughout the entire  71 year  history  of our  firm. Our substantial experience over the years makes us uniquely qualified·to provide accounting, auditing, and consulting services to these clients. We are a recognized leader  in  providing services to governmental and nonprofit agencies on the Treasure Coast and  in  Central  and South Florida, with extensive experience in auditing community development districts and water control districts. We were the independent auditors  of the City of Fort Pierce  for over 37 years  and currently, we are the independent auditors for St. Lucie County since 2002, and for 38 of the 42 years that the county has been audited by CPA firms. Additionally,  we have performed  audits of the City of Stuart, the City of Vero Beach, Indian River County and Martin County. We also presently audit over 75 Community Development Districts throughout Florida.
Our firm was founded on the belief that we are better able to respond to our  clients  needs  through education, experience, independence, quality control, and personal service. Our firm's commitment to quality is reflected in our endeavor of professional excellence via continuing education, the use of the latest computer technology, professional  membership  in PCPS  and peer review.
We believe our approach to audit engagements, intelligence and innovation teamed with sound professional judgment enables us to explore new concepts while remaining sensitive to the fundamental need for practical solutions. We take pride in giving you the assurance that the personal assistance you receive comes from years of advanced  training,  technical experience and financial acumen.

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Professional Staff Resources

Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL has a total of
32 professional and administrative staff (including 14 professional staff with extensive experience servicing government entities). The work will be performed  out  of  our  Fort Pierce office with a proposed staff of one senior accountant and one  or  two  staff accountants supervised by an audit manager and audit partner. With the exception of the directors of the firm's offices, the professional staff is not specifically assigned to any of our individual offices. The professional and administrative staff resources available to  you through Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL are as follows:

Partners/Directors (CPA's) Principals (CPA) Managers (CPA)
Senior/Supervisor Accountants (2 CPA's) Staff Accountants (1 CPA)
Computer Specialist Paraprofessional Administrative
Total - all personnel

Total 5
1
1
3
9
1
8
....1
32

Following is a brief description of each employee classification:

Staff Accountant - Staff accountants work directly under the constant supervision of the auditor-in-charge and, are responsible for the various testing of documents, account analysis and any other duties as his/her supervisor believes appropriate. Minimum qualification for a staff accountant is graduation from an accredited university or college with a degree in accounting or equivalent.

Senior Accountant - A senior accountant must possess all the qualifications of the staff accountant, in addition to being able to draft the necessary reports and financial statements, and supervise other staff accountants when necessary.

Managers - A manager must possess the qualifications of the senior accountant,  plus be able to work without extensive supervision from the auditor-in-charge.  The manager  should be able to draft audit reports from start to finish and to supervise the audit team,  if  necessary.

Principal - A principal is a partner/director in training. He has been a manager for several years and possesses the technical skills to act as the auditor-in-charge. A principal has no financial interest in the firm.

Partner/Director - The director has extensive governmental auditing experience  and  acts as the auditor-in-charge. Directors have a financial interest in the firm.

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Professional Staff Resources (Continued)

Independence - Independence of the public accounting firm,  with  respect  to  the  audit client, is the foundation from which the public gains its trust in the opinion issued  by  the public accounting firm at the end of the audit process. This independence must be in appearance as well as in fact. The public must perceive that the accounting firm is independent of the audit entity to ensure that nothing would compromise the opinion  issued by the public accounting firm. Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL is independent of Founders Ridge Community Development District, including its elected officials and related parties, at the date of this proposal, as defined  by  the following rules, regulations, and standards:

AuSection 220 - Statements on Auditing Standards  issued by the American Institute of Certified Public Accountants;

ET Sections 101 and 102 - Code of Professional  Conduct  of the American  Institute of Certified Public Accountants;

Chapter 21A-1, Florida Administrative Code; Section 473.315, Florida Statutes; and,
Government Auditing Standards, issued by the Comptroller General of the United States.

On an annual basis, all members of the firm are required to confirm, in writing, that they have no personal or financial relationships or holding that would impair their independence with regard to the firm's clients.

Independence is a hallmark of our profession. We encourage our staff to use professional judgment in situations where our independence  could be impaired or the perception of a conflict of interest might exist. In the governmental sector, public perception is as important as professional standards. Therefore,  the utmost care must be exercised  by independent  auditors in the performance of their duties.

Ability to Furnish the Required Services

As previously noted in the Profile of the Proposer section of this document, our firm has been in existence for over 69 years. We have provided audit services to some clients for over 30 years continually. Our firm is insured against physical loss through commercial insurance and we also carry liability insurance.  The majority  of our audit  documentation  is stored  electronically, both on our office network and on each employee laptop or computer assigned to each specific job. Our office computer network is backed up on tape, so in the event of a total equipment loss, we can restore all data as soon as replacement equipment is acquired. In addition, our field laptop computers carry the same data and can be used in the event of emergency with  virtually  no delay in completing the required services.

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ADDITIONAL SERVICES PROVIDED

Arbitrage Rebate Services

Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL also  provides arbitrage rebate compliance and related services to governmental issuers.  The Tax Reform  Act of 1986 requires issuers of most tax-exempt obligations to pay (i.e.,  "rebate")  to the United States government any arbitrage profits. Arbitrage profits are earnings  on  the investment  of bond proceeds and certain other monies in excess of what would have been earned had such monies been invested at a yield equal to the yield on the bonds.

Federal tax law requires that interim rebate calculations and payments are due at the end of  every fifth bond year. Final payment is required upon redemption of the bonds. More frequent calculations may be deemed advisable by an issuer's auditor, trustee or bond counsel or to  assure that accurate and current records are available. These more frequent requirements are usually contained in the Arbitrage or Rebate Certificate with respect to the bonds.

Our firm performs a comprehensive rebate analysis and includes the following:

Verifying that the issue is subject to rebate;
Calculating the bond yield;
Identifying, and separately accounting  for, all "Gross  Proceeds"  (as that term is defined in the Code) of the bond issue, including those requiring analysis due to "transferred proceeds" and/or "commingled funds" circumstances;
Determining what general and/or elective options are available to Gross proceeds of the issue;
Calculating the issue's excess investment earning (rebate liability), if any;
Delivering appropriate documentation to support all calculations;
Providing an executive summary identifying the methodology employed, major assumptions, conclusions, and any other recommendations  for  changes  in recordkeeping and investment policies;
Assisting as necessary in the event of an Internal Revenue Service inquiry; and,
Consulting with issue staff, as necessary, regarding arbitrage related matters.

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GOVERNMENTAL AUDITING EXPERIENCE

Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL has been practicing public accounting in Florida for 69 years. Our success over the years has been the result of a strong commitment to providing personalized quality service to our clients.

The current members of our firm have performed audits of over 900 community development districts, and over 1,800 audits of municipalities, counties and other governmental entities such as the City of Fort Pierce and St. Lucie County.

Our firm provides a variety of accounting, auditing, tax litigation support,  and  consulting  services. Some of the professional accounting, auditing and management consulting  services that are provided by our firm are listed below:

Performance of annual financial and compliance audits, including Single Audits of state and federal financial assistance programs, under the provisions of the Single Audit Act, Subpart F of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for  Federal Awards (Uniform Guidance), with minimal disruptions to your operations;
Performance of special compliance audits to ascertain compliance with the applicable local, state and federal laws and regulations;
Issuance of comfort letters and consent letters in conjunction with the issuance of tax­ exempt debt obligations, including compiling financial data and interim period financial statement reviews;
Calculation of estimated and actual federal arbitrage rebates;
Assistance in compiling historical financial data for first-time and supplemental submissions for GFOA Certificate of Achievement for Excellence in Financial Reporting;
Preparation of indirect cost allocation systems in accordance with Federal and State regulatory requirements;
Providing human resource and employee benefit consulting;
Performance of automation feasibility studies and disaster recovery plans;
Performance feasibility studies concerning major fixed asset acquisitions and utility plant expansion plans (including electric, water, pollution control, and sanitation utilities); and
Assistance in litigation, including testimony in civil and criminal court.
Assist clients who utilize QuickBooks software with their software needs. Our Certified QuickBooks Advisor has undergone extensive training through QuickBooks and has passed several exams to attain this Certification.

Continuing Professional Education

All members of the governmental audit staff of our firm, and audit  team members assigned  to this engagement, are in compliance with the Continuing Professional Education (CPE) requirements set forth in Government Auditing Standards issued by the Comptroller General of the United States. In addition, our firm is in compliance with the applicable provisions of the Florida Statutes that require CPA's to have met certain CPE requirements prior to proposing on governmental audit engagements.

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The audit team has extensive experience in performing governmental audits and is exposed to intensive and continuing concentration on these types of audits. Due to the total number of governmental audits our team performs, each member of our governmental staff  must understand and be able to perform several types of governmental audits. It is our objective to provide each professional employee fifty hours or more of  comprehensive  continuing professional education each year. This is accomplished through attending seminars throughout Florida and is reinforced through in-house training.

Our firm has made a steadfast commitment to professional  education.  Our  active attendance and participation in continuing professional education is a major  part of our objective  to obtain the most recent knowledge on issues which are of importance to our clients. We are growing on the reputation for work that our firm is providing today.

Quality Control Program

Quality control requires continuing commitment to professional excellence. Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants, PL is formally dedicated to that commitment.

To ensure maintaining the standards of working excellence required by our firm, we joined the Private Companies Practice Section (PCPS) of the American Institute of Certified Public Accountants (AICPA). To be a participating member firm of this practice section, a firm must obtain an independent Peer Review of its quality  control policies  and procedures  to ascertain the firm's compliance with existing auditing standards on the applicable engagements.

The scope of the Peer Review is comprehensive in that it specifically reviews  the  following quality control policies and procedures of the participating firm:

Professional, economic, and administrative independence;
Assignment of professional personnel to engagements;
Consultation on technical matters;
Supervision of engagement personnel;
Hiring and employment of personnel;
Professional development;
Advancement;
Acceptance and continuation of clients; and,
Inspection and review system.

We believe that our commitment to the program is rewarding not only to our firm, but primarily to our clients.

The external independent Peer Review of the elements of our quality control policies and procedures performed by an independent certified public accountant, approved by the PCPS of the AICPA, provides you with the assurance that we continue to conform to standards of the profession in the conduct of our accounting and auditing practice.

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Our firm is also a member of Governmental Audit Quality Center (GAQC}, a voluntary membership center for CPA firms that perform governmental audits. This center promotes the quality of governmental audits.

Our firm has completed successive Peer Reviews. These reviews included a representative sample of our firm's local governmental auditing engagements. As a result of these reviews, our firm obtained an unqualified opinion on our quality control program and work procedures. On page 31 is a copy of our most recent Peer Review report. It should be noted that we received a pass rating.

Our firm has never had any disciplinary actions by state regulatory bodies or professional organizations.

As our firm performs approximately one hundred fifty audits each year that are reviewed by federal, state or local entities, we are constantly dealing with questions from these entities about our audits. We are pleased to say that any questions that have been raised were minor  issues and were easily resolved without re-issuing any reports.

Certificate of Achievement for Excellence in Financial Reporting (CAFR)

We are proud and honored to have been involved with the City of Fort  Pierce  and the  Fort Pierce Utilities Authority when they received their first  Certificates  of  Achievement  for Excellence in Financial Reporting for the fiscal years ended September 30, 1988 and 1994, respectively. We were also instrumental in the City of Stuart receiving  the award,  in our  first  year of performing their audit, for the year ended September 30, 1999.

We also assisted St. Lucie County, Florida for the year ended September 30, 2003, in preparing their first Comprehensive Annual Financial Report, and St. Lucie County has received their Certificate of Achievement for Excellence in Financial Reporting every year since.

As continued commitment to insuring that we are providing the highest level of experience, we have had at least one employee of our firm serve on the GFOA - Special Review Committee  since the mid-1980s. This committee is made up of selective Certified Public Accountants throughout the United States who have demonstrated their high level of  knowledge  and  expertise in governmental accounting. Each committee member attends a  special  review meeting at the Annual GFOA Conference. At this meeting, the committee reports on  the Certificate of Achievement Program's most recent results, future goals, and common reporting deficiencies.

We feel that our previous experience in assisting the City of Fort Pierce, the Fort Pierce Utilities Authority and St. Lucie County obtain their first CAFRs, and the City of Stuart in continuing to receive a CAFR and our firm's continued involvement with the GFOA, and the CAFR review committee make us a valued asset for any client in the field of governmental financial reporting.

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References

Terracina Community Development District
Jeff Walker, Special District Services
(561) 630-4922
The Reserve Community Development District Darrin Mossing, Governmental Management
Services LLC
(407) 841-5524

Gateway Community Development District
Stephen Bloom, Severn Trent Management
(954) 753-5841

Port of the Islands Community Development District
Cal Teague, Premier District Management

(239) 690-7100 ext 101

In addition to the above, we have the following additional governmental audit experience:

Community Development Districts

Aberdeen Community Development District

Alta Lakes Community Development District

Amelia Concourse Community Development District

Amelia Walk Communnity Development District

Aqua One Community Development District

Arborwood Community Development District

Arlington Ridge Community Development District

Bartram Springs Community Development District

Baytree Community Development District

Beacon Lakes Community Development District

Beaumont Community Development District

Bella Collina Community Development District

Bonnet Creek Community Development District

Buckeye Park Community Development District

Candler Hills East Community Development District

Cedar Hammock Community Development District

Central Lake Community Development District

Channing Park Community Development District

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Cheval West Community Development District

Coconut Cay Community Development District

Colonial Country Club Community Development District

Connerton West Community Development District

Copperstone Community Development District

Creekside @ Twin Creeks Community Development District

Deer Run Community Development District

Dowden West Community Development District

DP1 Community Development District

Eagle Point Community Development District
East Nassau Stewardship District Eastlake Oaks Community
Development District

Easton Park Community Development District

Estancia @ Wiregrass Community Development District

Evergreen Community Development District

Forest Brooke Community Development District

Gateway Services Community Development District

Gramercy Farms Community Development District

Greenway Improvement District

Greyhawk Landing Community Development District

Griffin Lakes Community Development District

Habitat Community Development District

Harbor Bay Community Development District

Harbourage at Braden River Community Development District

Harmony Community Development District

Harmony West Community Development District

Harrison Ranch Community Development District

Hawkstone Community Development District

- 11 -

Heritage Harbor Community Development District

Heritage Isles Community Development District

Heritage Lake Park Community Development District

Heritage Landing Community Development District

Heritage Palms Community Development District

Heron Isles Community Development District

Heron Isles Community Development District

Highland Meadows II Community Development District

Julington Creek Community Development District

Laguna Lakes Community Development District

Lake Bernadette Community Development District

Lakeside Plantation Community Development District

Landings at Miami Community Development District

Legends Bay Community Development District

Lexington Oaks Community Development District

Live Oak No. 2 Community Development District

Madeira Community Development District

Marhsall Creek Community Development District

Meadow Pointe IV Community Development District

Meadow View at Twin Creek Community Development District

Mediterra North Community Development District

Midtown Miami Community Development District

Mira Lago West Community Development District

Montecito Community Development District

Narcoossee Community Development District

Naturewalk Community Development District

New Port Tampa Bay Community Development District

Overoaks Community Development District

Panther Trace II Community Development District

Paseo Community Development District

Pine Ridge Plantation Community Development District

Piney Z Community Development District

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Poinciana Community Development District

Poinciana West Community Development District

Port of the Islands Community Development District

Portofino Isles Community Development District

Quarry Community Development District

Renaissance Commons Community Development District

Reserve Community Development District

Reserve #2 Community Development District

River Glen Community Development District

River Hall Community Development District

River Place on the St. Lucie Community Development District

Rivers Edge Community Development District

Riverwood Community Development District

Riverwood Estates Community Development District

Rolling Hills Community Development District

Rolling Oaks Community Development District

Sampson Creek Community Development District

San Simeon Community Development District

Six Mile Creek Community Development District

South Village Community Development District

Southern Hills Plantation I Community  Development District

Southern Hills Plantation Ill Community  Development District

South Fork Community Development District

St. John's Forest Community Development District

Stoneybrook South Community Development District

Stoneybrook South at ChampionsGate Community Development District

Stoneybrook West Community Development District

Tern Bay Community Development District

Terracina Community Development District

Tison's Landing Community Development District

TPOST Community Development District

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Triple Creek Community Development District

TSR Community Development District

Turnbull Creek Community Development District

Twin Creeks North Community Development District

Urban Orlando Community Development District

Verano #2 Community Development  District

Viera East Community Development District

VillaMar Community Development District

Vizcaya in Kendall Development District

Waterset North Community Development District

Westside Community Development District

WildBlue Community Development District

Willow Creek Community Development District

Willow Hammock Community Development District

Winston Trails Community Development District

Zephyr Ridge Community Development District

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Other Governmental Organizations

City of Westlake

Florida Inland Navigation District Fort Pierce Farms Water Control
District

Indian River Regional Crime Laboratory, District 19, Florida

Viera Stewardship District

Office of the Medical Examiner, District 19

Rupert J. Smith Law Library of St. Lucie County

St. Lucie Education Foundation
Seminole Improvement District Troup Indiantown Water
Control District

Current or Recent Single Audits,

St. Lucie County, Florida Early Learning Coalition, Inc.
Treasure Coast Food Bank, Inc.

Gateway Services Community Development District

Members of our audit team have acquired extensive experience from performing  or participating in over 2,100 audits of governments, independent special taxing districts, school boards, and other agencies that receive public money and utilize fund accounting.

Much of our firm's auditing experience is with compliance auditing, which is required for publicly financed agencies. In this type of audit, we do a financial examination and also confirm compliance with various statutory and regulatory guidelines.

Following is a summary of our other experience, including Auditor General experience, as it pertains to other governmental and fund accounting audits.

Counties
(Includes elected constitutional officers, utilities and dependent taxing districts)

Indian River Martin Okeechobee Palm Beach

Municipalities

City of Port St. Lucie City of Vero Beach Town of Orchid

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Special Districts

Bannon Lakes Community Development District Boggy Creek Community Development District Capron Trail Community Development District Celebration Pointe Community Development District Coquina Water Control District
Diamond Hill Community Development District Dovera Community Development District
Durbin Crossing Community Development District Golden Lakes Community Development District Lakewood Ranch Community Development District Martin Soil and Water Conservation  District Meadow Pointe Ill Community Development District Myrtle Creek Community Development District
St. Lucie County - Fort Pierce Fire District The Crossings at Fleming Island
St. Lucie West Services District
Indian River County Mosquito Control District St. John's Water Control District
Westchase and Westchase East Community Development Districts Pier Park Community Development District
Verandahs Community Development District Magnolia Park Community Development District

Schools and Colleges

Federal Student Aid Programs - Indian River Community College Indian River Community College
Okeechobee County District School Board St. Lucie County District School Board

State and County Agencies

Central Florida Foreign-Trade Zone, Inc. (a nonprofit organization affiliated with the St. Lucie County Board of County Commissioners)
Florida School for Boys at Okeechobee
Indian River Community College Crime Laboratory Indian River Correctional Institution

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FEE SCHEDULE

We propose the fee for our audit services described below to be $3,150 for the year ended September 30, 2021, $3,315 for the years ended September 30, 2022 and·2023, $3,485 for the years ended September 30, 2024 and 2025. The fee is contingent upon the financial records and accounting systems of Founders Ridge Community Development District being "audit ready" and the financial activity for the District is not materially increased. If we discover that additional preparation work or subsidiary schedules are needed, we will consult with your authorized representative. We can assist with this additional work at our standard rates should you desire.

SCOPE OF WORK TO BE PERFORMED

If selected as the District's auditors, we will perform a financial and compliance audit in accordance with Section 11.45, Florida Statutes, in order to express an opinion on an annual basis on the financial statements of Founders Ridge Community Development District as of September 30, 2021, 2022, 2023, 2024, and 2025. The audits will be performed to the extent necessary to express an opinion on the fairness in all material respects with which the financial statements present the financial position,  results of operations and changes  in financial position in conformity with generally accepted accounting principles and to determine whether,  for selected transactions, operations are properly conducted in accordance with  legal  and  regulatory requirements. Reportable conditions that are also material weaknesses shall be identified as such in the Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters. Other {non-reportable) conditions  discovered  during the course of the audit will be reported in a separate letter to management, which will be referred to in the Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters.

Our audit will be performed in accordance with standards for financial and compliance audits contained in Government Auditing Standards, as well as in compliance with  rules  and  regulations of audits  of  special  districts  as  set  forth  by  the  State  Auditor  General  in  Chapter 10.550, Local Governmental Entity Audits, and other relevant federal, state and county orders, statutes, ordinances, charter, resolutions, bond covenants, Administrative Code and procedures, or rules and regulations which may pertain to the work required in the engagement.

The primary purpose of our audit will be to express an opinion on the financial statements discussed above. It should  be noted that such audits are subject  to the inherent  risk that errors or irregularities may not be detected. However, if conditions are discovered which lead to the belief that material errors, defalcations or other irregularities may exist or if other circumstances are encountered that require extended services, we will promptly notify  the  appropriate individual.

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I Personnel Qualifications and Experience

J. W. Gaines, CPA, CITP
Director - 41 years

Education
Stetson University, B.B.A. -Accounting

Registrations
Certified Public Accountant - State of Florida, State Board of Accountancy
Certified Information Technology Professional (CITP) - American Institute of Certified Public Accountants

Professional Affiliations/Community Service
Member of the American and Florida Institutes of Certified Public Accountants
Affiliate member Government Finance Officers Association
Past President, Vice President-Campaign Chairman, Vice President and Board Member of United Way of St. Lucie County, 1989 - 1994
Past President, President Elect, Secretary and Treasurer of the Treasure Coast Chapter of
the Florida Institute of Certified Public Accountants, 1988 - 1991
Past President of Ft. Pierce Kiwanis Club, 1994 - 95, Member/Board Member since 1982
Past President, Vice President and Treasurer of St. Lucie County Chapter of the American Cancer Society, 1980 -1986
Member of the St. Lucie County Chamber of Commerce, Member Board of Directors, Treasurer, September 2002 - 2006, Chairman Elect 2007, Chairman 2008, Past Chairman
2009
Member Lawnwood Regional Medical Center Board of Trustees, 2000 - Present, Chairman 2013 - Present
Member of St. Lucie County Citizens Budget Committee, 2001 - 2002
Member of Ft. Pierce Citizens Budget Advisory Committee, 2010 - 2011
Member of Ft. Pierce Civil Service Appeals Board, 2013 - Present

Professional Experience
Miles Grant Development/Country Club - Stuart, Florida, July 1975 - October 1976
State Auditor General's Office - Public Accounts Auditor - November 1976 through  September 1979
Director - Berger, Toombs, Elam, Gaines & Frank. Certified Public Accountants PL, responsible for numerous government and nonprofit audits.
Over 40 years experience in all phases of public accounting and auditing experience, with a concentration in financial and compliance audits. Mr. Gaines has been involved  in  all  phases of the audits listed on the preceding pages.

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I   Personnel  Qualifications and Experience	
J. W. Gaines, CPA, CITP (Continued)
Director

Continuing Professional Education
Has participated in numerous continuing professional education courses provided by nationally recognized sponsors over the last two years to keep abreast of the latest developments in accounting and auditing such as:
Governmental Accounting Report and Audit Update Analytical Procedures, FICPA
Annual Update for Accountants and Auditors Single Audit Sampling and Other Considerations

- 19 -

I   Personnel  Qualifications and Experience	
David S. McGuire,  CPA, CITP Accounting and Audit Principal - 18 years Accounting and Audit Manager - 4 years Staff Accountant	- 11 years

Education
University of Central Florida, B.A. - Accounting
Barry University - Master of Professional Accountancy

Registrations
Certified Public Accountant- State of Florida, State Board of Accountancy
Certified Information Technology Professional (CITP) -American Institute of Certified Public Accountants
Certified Not-For-Profit Core Concepts 2018
Professional Affiliations/Community Service
Member of the American and Florida Institutes of Certified Public Accountants
Associate Member, Florida Government Finance Office Associates
Assistant Coach - St. Lucie County Youth Football Organization (1994 - 2005)
+	Assistant Coach - Greater Port St. Lucie Football League, Inc. (2006 - 2010)
+	Board Member - Greater Port St. Lucie Football League, Inc. (2011 - 2017)
Treasurer, AIDS Research and Treatment Center of the Treasure Coast, Inc. (2000 - 2003)
+	Board Member/Treasurer, North Treasure Coast Chapter, American Red Cross (2004,- 2010)
Member/Board Member of Port St. Lucie Kiwanis (1994 - 2001)
+	President (2014/15) of Sunrise Kiwanis of Fort Pierce (2004 - 2017)
+	St. Lucie District School Board Superintendent Search Committee (2013 - present)
Board Member - Phrozen Pharoes (2019-2021)
Professional Experience
+	Twenty-eight years public accounting experience with an emphasis on nonprofit and governmental organizations.
Audit Manager in-charge on a variety of audit and review engagements within several industries, including the following government and nonprofit organizations:
St. Lucie County, Florida
19th Circuit Office of Medical Examiner Troup Indiantown Water Control District
Exchange Club Center for the Prevention of Child Abuse, Inc. Healthy Kids of St. Lucie County
Mustard Seed Ministries of Ft. Pierce, Inc. Reaching Our Community Kids, Inc.
Reaching Our Community Kids - South
St. Lucie County Education Foundation, Inc. Treasure Coast Food Bank, Inc.
North Springs Improvement District
Four years of service in the United States Air Force in computer  operations,  with  a top secret (SCI/SBI) security clearance.
- 20 -

I        Personnel  Qualifications and Experience	

David S. McGuire, CPA, CITP (Continued)
Accounting and Audit Principal

Continuing Professional Education
Mr. McGuire has attended numerous continuing professional education  courses  and seminars taught by nationally recognized sponsors in the accounting auditing  and single  audit compliance areas. He has attended courses over the last two years in those areas as follows:
Not-for-Profit Auditing Financial Results and Compliance Requirements Update: Government Accounting Reporting and Auditing
Annual Update for Accountants and Auditors

- 21 -

I Personnel  Qualifications and Experience	
David F. Haughton, CPA
Accounting and Audit Manager - 30 years

Education
Stetson University, B.B.A. -Accounting

Registrations
Certified Public Accountant - State of Florida, State Board of Accountancy

Professional Affiliations/Community Service
Member of the American and Florida Institutes of Certified Public Accountants
Former Member of Florida Institute of Certified Public Accountants Committee on State and Local Government
Affiliate Member Government Finance Officers Association (GFOA) for over 10 years
Affiliate Member Florida Government Finance Officers Association (FGFOA) for  over  10 years
Technical Review-1997 FICPA Course on State and Local Governments in Florida
Board of Directors - Kiwanis of Ft. Pierce, Treasurer - 1994-1999; Vice President -  1999- 2001

Professional Experience
Twenty-seven years public accounting experience with an emphasis on governmental and nonprofit organizations.
State Auditor General's Office - West Palm Beach, Staff Auditor, June 1985 to September 1985
Accounting and Audit Manager of Berger, Toombs, Elam, Gaines & Frank, Certified Public Accountants PL, responsible for audit and accounting services including governmental and not-for-profit audits.
Over 20 years of public accounting and governmental experience, specializing in governmental and nonprofit organizations with concentration in special districts, including Community Development Districts which provide services including water and sewer utilities. Governmental and non-profit entities served include the following:

Counties:
St. Lucie County

Municipalities:
City of Fort Pierce City of Stuart

- 22 -

I Personnel  Qualifications and Experience	
David F. Haughton, CPA (Continued)
Accounting and Audit Manager

Professional Experience (Continued) Special Districts:
Bluewaters Community Development District
Country Club of Mount Dora Community Development District Fiddler's Creek Community Development District #1 and #2 Indigo Community Development District
North Springs Improvement District
Renaissance Commons Community Development District St. Lucie West Services District
Stoneybrook Community Development District Summerville Community Development District Terracina Community Development  District Thousand Oaks Community Development District Tree Island Estates Community Development District Valencia Acres Community Development District

Non-Profits:
The Dunbar Center, Inc.
Hibiscus Children's Foundation, Inc. Hope Rural School, Inc.
Maritime and Yachting Museum of Florida, Inc. Tykes and Teens, Inc.
United Way of Martin County, Inc.
Workforce Development Board of the Treasure Coast, Inc.
While with the Auditor General's Office he was on the staff for the state audits of the Martin County School District and Okeechobee County School District.
During 1997 he performed a technical review of the Florida Institute of Certified Public Accountants state CPE course on Audits of State and Local Governments in Florida. His comments were well received by the author and were utilized in future  updates  to  the course.
Continuing Professional Education
During the past several years, he has participated in numerous professional development training programs sponsored by the AICPA and FICPA, including  state  conferences  on special districts and governmental auditing in Florida. He averages in excess of 100 hours bi-annually of advanced training which exceeds the 80 hours required in accordance with the continuing professional education requirements of the Florida  State  Board  of accountancy and the AICPA Private Companies Practice Section. He has over 75 hours of governmental CPE credit within the past two years.

- 23 -

I    Personnel  Qualifications and Experience	

Matthew Gonano, CPA
Senior Staff Accountant - 10 years

Education
University of North Florida, B.B.A. - Accounting
University of Alicante, Spain - International Business
Florida Atlantic University - Masters of Accounting

Professional Affiliations/Community Service

American Institute of Certified Public Accountants
Florida Institute of Certified Public Accountants

Professional Experience

Senior Accountant with Berger, Toombs, Elam, Gaines, & Frank providing professional services to nonprofit and governmental entities.
Performed audits of nonprofit and governmental organizations in accordance with Governmental Accounting Auditing Standards (GAAS)
Performed Single Audits of nonprofit organizations in accordance with 0MB Circular A-133, Audits of State, Local Governments, and Non-Profit Organizations.

Continuing Professional Education
Mr. Gonano has participated in numerous continuing professional education courses.

- 24 -

I   Personnel  Qualifications and Experience	
Paul Daly
Staff Accountant - 9 years

Education
Florida Atlantic University, B.S. - Accounting

Professional Experience
Staff Accountant with Berger, Toombs, Elam, Gaines, & Frank providing professional  services to nonprofit and governmental entities.

Continuing Professional Education
Working to attain the requirements to take the Certified Public Accounting (CPA) exam.

- 25 -

I        Personnel  Qualifications and Experience	

Melissa Marlin, CPA
Senior Staff Accountant- 7 years

Education
Indian River State College, A.A. - Accounting
Florida Atlantic University, B.B.A. - Accounting

Professional Experience
Staff accountant with Berger, Toombs, Elam, Gaines, & Frank  providing  professional services to nonprofit and governmental entities.

Continuing Professional Education
Mrs. Marlin participates in numerous continuing professional education courses provided by nationally recognized sponsors to keep abreast of the latest developments.
Mrs. Marlin is currently studying to pass the CPA exam.

- 26 -

[ Personnel Qualifications and Experience

Bryan Snyder
Staff Accountant - 5 years

Education
Florida Atlantic University, B.B.A. - Accounting

Professional Experience
Accountant beginning his professional auditing career with Berger, Toombs, Elam, Gaines,
& Frank.
Mr. Snyder is gaining experience auditing governmental & nonprofit entities.

Continuing Professional Education
Mr. Snyder participates in numerous continuing education courses and plans on working to acquire his CPA certificate.
Mr. Snyder is currently studying to pass the CPA exam.

- 27 -

I            Personnel  Qualifications  and Experience	

Maritza Stonebraker
Staff Accountant - 4 years

Education
Indian River State College, B.S.A. -Accounting

Professional Experience
Staff Accountant beginning her professional auditing career with Berger, Toombs, Elam, Gaines, & Frank.

Continuing Professional Education
Mrs. Stonebraker participates in numerous continuing education courses and plans on acquiring her CPA.
Mrs. Stonebraker is currently studying to pass the CPA exam.

- 28 -

I   Personnel  Qualifications and Experience	
Jonathan Herman, CPA
Senior Staff Accountant - 7 years

Education
University of Central Florida, B.S. - Accounting
Florida Atlantic University, MACC

Professional Experience
Accounting graduate with five years experience with Berger, Toombs, Elam,  Gaines,  & Frank providing professional services to nonprofit and governmental entities.

Continuing Professional Education
Mr. Herman participates in numerous continuing professional education courses provided by nationally recognized sponsors to keep abreast of the latest developments.

- 29-

I Personnel Qualifications and Experience

Sean Stanton, CPA
Staff Accountant - 4 years

Education
University of South Florida, B.S. - Accounting
Florida Atlantic University, M.B.A. - Accounting

Professional Experience
Staff accountant with Berger, Toombs, Elam, Gaines, & Frank auditing governmental and non-profit entities.

Continuing Professional Education
Mr. Stanton participates in numerous continuing professional education courses provided by nationally recognized sponsors to keep abreast of the latest developments.

- 30 -

I     Personnel  Qualifications and Experience	
Taylor Nuccio
Staff Accountant - 3 years

Education
Indian River State College, B.S.A. -Accounting

Professional Experience
Staff Accountant with Berger, Toombs, Elam, Gaines, & Frank providing professional  services to nonprofit and governmental entities.

Continuing Professional Education
Ms. Nuccio participates in numerous continuing professional education courses provided by nationally recognized sponsors to keep abreast of the latest developments.
Ms. Nuccio is currently working towards completing an additional 30 hours of education to qualify to sit for CPA exam.

- 31 -

I     Personnel  Qualifications and Experience	
Kirk Vasser
Staff Accountant - 1 year

Education
Indian River State College, B.S.A. - Accounting

Professional Experience
Staff Accountant with Berger, Toombs, Elam, Gaines, & Frank providing  professional services to nonprofit and governmental entities.

Continuing Professional Education
Mr. Vasser participates in numerous continuing professional education courses provided by nationally recognized sponsors to keep abreast of the latest developments.
Mr. Vasser is currently working towards completing an additional 30 hours of education to qualify to sit for CPA exam.

- 32 -

I Personnel Qualifications and Experience
Madison Ballash
Staff Accountant - 1 year

Education
Indian River State College, B.S.A. - Accounting (May 2020)

Professional Experience
Staff Accountant with Berger, Toombs, Elam, Gaines, & Frank providing  professional services to nonprofit and governmental entities.

Continuing Professional Education
Ms. Ballash participates in numerous continuing professional education courses provided by nationally recognized sponsors to keep abreast of the latest developments.
Ms. Ballash is currently working towards completing an additional 30 hours of education to qualify to sit for CPA exam.

- 33 -

Judson B. Baggett MBA, CPA, CVA, Portner
Marci Reufimann
CPA, Portner

ti 6815 Dairy Rood Zephyrh ills, fl 33542
")  (813) 788-2155
ii,  (813) 782-8606

Report on the Firm's System of Quality Control

To the Partners	October 30, 2019
Berger, Toombs, Elam, Gaines & Frank, CPAs, PL
and the Peer Review Committee of the Florida Institute of Certified Public Accountants

We have reviewed the system of quality control for the accounting and auditing practice of Berger, Toombs, Elam, Gaines & Frank, CPAs, PL, (the firm), in effect for the year ended May 31, 2019. Our peer review was conducted in accordance with the Standards for Performing and Reporting on Peer Reviews established by the Peer Review Board of the American Institute of Certified Public Accountants (Standards).

A summary of the nature, objectives, scope, limitations of, and the procedures performed in a System Review as described in the Standards may be found at aicpa.org/prsummary. The summary also includes an explanation of how engagements identified as not performed or reported in conformity with applicable professional standards, if any, are evaluated by a peer reviewer to determine a peer review rating.

Firm's Responsibility

The firm is responsible for designing a system of quality control and complying with it to provide the firm with reasonable assurance of performing and reporting in conformity with applicable professional standards in all material respects. The firm is also responsible for evaluating actions to promptly remediate engagements deemed as not performed or reported in conformity with professional standards, when appropriate, and for remedialing weaknesses in its system of quality control, if any.

Peer Reviewer's Responsibility

Our responsibility is to express an opinion on the design of the system of quality control, and the firm's compliance therewith based on our review.

Required Selections  and Considerations

Engagements selected for review included engagements performed under Government Auditing Standards, including a compliance audit under the Single Audit Act.

As a part of our peer review, we considered reviews by regulatory entities as communicated by the firm, if applicable, in determining the nature and extent of our procedures.

Opinion

In  our  opinion,  the  system   of   quality   control   for   the   accounting   and   auditing   practice·   of Berger, Toombs, Elam, Gaines & Frank, CPAs, PL, in effect for the year ended May 31, 2019, has been suitably designed and complied with to provide the firm with reasonable assurance of performing and reporting in conformity with applicable professional standards in all material respects, Firms can receive a rating of pass, pass with deficiency(ies). or fail. Berger, Toombs, Elam, Gaines & Frank, CPAs, PL has received a peer review rating of pass.

National

Assoc1ahon of Cert1f1ed Vc1luot1on Analysts (NACVAJ

Amcr1Cc1, Institute of Ccrl1f1ed Public Accounlant s (AICPA) ood Florida lnst1tvtc of Cert1f1ed Public Accountants {flCPA)

Member

- 34 -

FOUNDERS RIDGE COMMUNITY DEVELOPMENT DISTRICT REQUEST FOR PROPOSALS

Annual Audit Services for Fiscal Year 2021
Lake County, Florida

INSTRUCTIONS  TO PROPOSE

SECTION 1. DUE DATE. Sealed proposals must be received no later than Monday, July 12, 2021, at 2:00 P.M., at the offices of District Manager, located 219 East Livingston Street, Orlando, FL 32801. Proposals will be publicly opened at that time.

SECTION 2. FAMILIARITY WITH THE LAW. By submitting a proposal, the Proposer is assumed to be familiar with all federal, state, and local laws, ordinances, rules, and regulations that in any manner affect the work. Ignorance on the part of the Proposer will in no way relive it from responsibility to perform the work covered by the proposal in compliance with al such laws, ordinances and regulations.

SECTION 3. QUALIFICATIONS OF PROPOSER. The contract, if awarded, will only be awarded to a responsible Proposer who is qualified by experience and licensing to do the work specified herein. The Proposer shall submit with its proposal satisfactory evidence of experience in similar work and show that it is fully prepared to complete the work to the satisfaction of the District.

SECTION 4. SUBMISSION OF ONLY ONE PROPOSAL. Proposers shall be
disqualified and their proposals rejected if the District has reason to believe that collusion may exist among the Proposers, the Proposer has defaulted on any previous contract or is in arrears on any previous or existing contract, or for failure to demonstrate proper licensure and business organization.

SECTION 5. SUBMISSION OF PROPOSAL. Submit seven (7) copies and one (1) electronic copy of the Proposal Documents, and other requested attachments at the time and place indicated herein, which shall be enclosed in an opaque sealed envelope, marked with the title "Auditing Services - Founders Ridge Community Development District" on the face of it.

SECTION 6. MODIFICATION AND WITHDRAWAL. Proposals may be modified or withdrawn by an appropriate document duly executed and delivered to the  place  where proposals are to be submitted at any time prior to the time and date the proposals are due. No proposal may be withdrawn after opening for a period of ninety (90) days.

SECTION 7. PROPOSAL DOCUMENTS. The proposal documents shall consist of the notice announcing the request for proposals, these instructions, the Evaluation  Criteria  Sheet and a proposal with all required documentation pursuant to Section 12 of these instructions (the "Proposal Documents").

SECTION 8. PROPOSAL. In making its proposal, each Proposer represents that it has read and understands the Proposal Documents and that the proposal is made in accordance therewith.

- 35 -

SECTION 9. BASIS OF AWARD/RIGHT TO REJECT. The District reserves the right to reject any and all proposals, make modifications to the work, and waive any informalities or irregularities in proposals as it is deemed in the best interests of the District.

SECTION 10. CONTRACT AWARD. Within fourteen (14) days of receipt of the Notice of Award from the District, the Proposer shall enter into and execute a  Contract  (engagement  letter) with the District.

SECTION 11. LIMITATION OF LIABILITY. Nothing herein shall be construed as or constitute a waiver of District's limited waiver of liability contained in section 768.28, Florida Statutes, or any other statute or law.

SECTION 12. MISCELLANEOUS. All proposals shall include the following information in addition to any other requirements of the proposal documents.

List position or title of all personnel to perform work on  the  District  audit.  Include resumes for each person listed: list years of experience in present position for each party listed and years of related experience.

Describe proposed staffing levels, including resumes with applicable certifications.

Three references from projects of similar size and scope. The Proposer should include information relating to the work it conducted for each reference as well as a  name, address and phone number of a contact person.

The lump sum cost of the provision of the services under the proposal for Fiscal Year 2021, 2022, 2023, 2024, 2025. The District intends to enter into five (5) separate  one­ year agreements.

Provide a proposed schedule for performance of the audit.

SECTION 13. PROTESTS. Any protest regarding the Proposal Documents, must be filed in writing, at the offices of the District Manager, within seventy-two (72) hours after the receipt of the documents. The formal protest setting forth with particularity the facts and law upon which the protest is based shall be filed within seven (7) calendar days after the initial notice of protest was filed. Failure to timely file a notice of protest or failure to timely file a formal written protest shall constitute a waiver of any right to object or protest with respect to aforesaid plans, specifications or contract documents.

SECTION 14. EVALUATION OF PROPOSALS. The criteria to be used in the evaluation of proposals are presented in the Evaluation Criteria Sheet, contained within the Proposal Documents.

- 36 -

BOARD OF SUPERVISORS MEETING

M INUTES

MINUTES OF MEETING FOUNDERS RIDGE
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Founders Ridge Community Development District was held Wednesday, May 26, 2021 at 11:30 a.m. in the Minneola City Hall, 800 N. U.S. Highway 27, Minneola, Florida.

Present and constituting a quorum were:

Aaron Blake Joe Zagame Darby Shields

Chairman
Vice Chairperson Secretary

Also present were:

George Flint Tucker Mackie RobZebro
Joan Manganaro

District Manager
District Counsel by telephone
Cope, Zebro & Crawford

FIRST  ORDER OF BUSINESS	Roll Call
Mr. Flint called the meeting to order and called the roll.

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

THIRD  ORDER OF BUSINESS	Approval of the Minutes of the January 12,
2021 Meeting

On MOTION by Mr. Blake seconded by Ms. Shields with all in favor the minutes of the January 12, 2021 meeting were approved as presented.

FOURTH  ORDER OF BUSINESS	Consideration	of	Resolution	2021-07
Providing for the Removal and Appointment

of Treasurer and Appointment of Assistant Treasurer
Mr. Flint stated Ariel is no longer with GMS and we are asking that you consider appointing Jill Burns as Treasurer and Katie Costa as Assistant Treasurer. They both work in my office and Katie is the one who prepares the financial statements and Jill is a principal with GMS.

On MOTION by Mr. Blake seconded by Ms. Shields with all in favor Resolution 2021-07 appointing Jill Burns as Treasurer and Katie Costa as Assistant Treasurer was approved.

FIFTH ORDER OF BUSINESS	Consideration	of	Resolution	2021-08
Approving the Proposed Budget for Fiscal Year 2022 and Setting a Public Hearing
Mr. Flint stated each year the Board is required to approve a proposed budget by June 15th and set the date, place and time of the public hearing. The proposed budget is not binding on the Board, you can make changes to this between now and at the public hearing in July. We are recommending July 27th at 9:00 a.m. for the public hearing. The budget continues to be primarily an administrative budget, there is no operational expenses included and you can see the budget is identical to last year. This is currently being funded through a developer funding agreement and the developer/landowner is paying 1/12 per month of the operating budget.

On MOTION by Mr. Blake seconded by Ms. Shields with all in favor Resolution 2021-08 approving the proposed Fiscal Year 2022 budget and setting the public hearing for July 27, 2021 was approved.

SIXTH ORDER OF BUSINESS	Consideration of Settlement Agreement with
Founders	Ridge	Development,	LLC and Founders Ridge Development II, LLC
Ms. Mackie stated included in the agenda is a proposed settlement agreement that has been agreed to in substantial form as between the District, its counsel myself and counsel for the landowner, Don Crawford and Rob Zebra were helpful in assisting with the preparation of this agreement. The District has had past due expenses for some number of years, the current amount of about $154,000 and this settlement agreement provides for an understanding as to what

2

amounts will be paid and again, similar to the funding agreement, these amounts will be paid over time. You will see that set forth in section 1 of the agreement, of the $154,000, $110,000 is going to be paid to the District in installment payments of approximately $36,000 over the course of the next few years with the last payment ending on June 30, 2023. I would be happy to answer any questions. I think this is still being reviewed by a principal of the landowner and there may be minor comments that ultimately get incorporated into the execution version. We would be looking for a motion for the Board to approve in substantial form today.

On MOTION by Mr. Blake seconded by Ms. Shields with all in favor the settlement agreement with Founders Ridge Development, LLC and Founders Ridge Development II, LLC was approved in substantial form.

SEVENTH  ORDER OF BUSINESS	Discussion of E-Verify Requirements and
Ratification of Staff Actions Related to the Memorandum of Understanding
Mr. Flint stated state law was changed last year requiring government agencies to comply with the E-Verify requirements. It is a federal requirement and doesn't necessarily apply to states, but the State of Florida has made it applicable and this makes sure that any employee of the District is legally authorized to work as well as any contractor and their employees. As part of that we had to register with the E-Very System and the District had to enter into a memorandum of understanding with the Department of Homeland Security. This went into effect January 1, and doesn't apply to the District at this point,  we don't have any employees. Any contracts that you enter into after January 1, would have to include a provision that obligates the contractor to comply and demonstrate that they have registered with E-Verify. We are asking the Board to ratify our actions in registering the District in the E-Verify System and entering into the memorandum of understanding.

On MOTION by Mr. Blake seconded by Ms. Shields with all in favor staff actions related to registering in the E-Verify System and execution of the memorandum of understanding were ratified.

EIGHTH  ORDER OF BUSINESS	Discussion of Board Member Compensation

3

Mr. Flint stated under Chapter 190 Board Members are entitled to compensation of $200 per meeting for Board attendance up to a maximum of $4,800 per year. It is an entitlement if you choose to accept it the District is obligated to pay you and in some instances Board Members will waive compensation and other instances they will accept compensation. With the financial situation of the District previously Board compensation was not feasible, but I had that question from one of the Board Members who wanted to put it on as a discussion item to see what the Board's position is on that.
Mr. Blake stated if we leave it on there, but don't accept it we have a surplus at the end of the year.
Mr. Flint stated at this point we included $4,000 and the funds would carry over if we don't expend it. That would be four Board meetings with five Board Members being paid.
Mr. Blake asked are we looking for a motion to do something?
Mr. Flint stated at this point I think the Board Members have individually waived compensation. If you choose to accept it I just need to know that and if you do accept it we have a 19 and W4 form that you have to fill out.
Mr. Blake stated I would like to stick with the plan we have currently, leave it in the budget and let the members do what they want.

NINTH  ORDER OF BUSINESS	Appointment	of	Audit	Committee	and
Chairman
Mr. Flint stated next is appointment of Audit Committee and designation of a Chair. The CDD as a governmental entity is required to have an annual independent audit performed and part of the process includes appointing an Audit Committee and in this case we recommend the Board appoint themselves as the Audit Committee. The only purpose of the Audit Committee is to approve the form of the RFP and selection criteria and when we get the responses back the Audit Committee would review and rank those and make a recommendation to the Board.

On MOTION by Mr. Blake seconded by Ms. Shields with all in favor the Board Members were appointed to serve as the Audit Committee and Mr. Blake was appointed Chair.

4

TENTH ORDER OF BUSINESS
Attorney

Staff Reports

There being none, the next item followed.

Engineer
There being none, the next item followed.

Manager
Balance Sheet and Income Statement
A copy of the financials was included in the agenda package.

Ratification of FY21 Funding Requests 3-6
Mr. Flint stated funding requests 3 - 6 were submitted to the landowner under the current funding agreement. This is for February, March, April, and May. We have already transmitted these and they have been funded, but we put them on the agenda to have you ratify.

On MOTION by Mr. Blake seconded by Ms. Shields with all in
favor FY21 funding requests 3-6 were ratified.

Presentation of Number of Registered Voters - 0
A copy of the letter from the supervisor of elections indicating that there are no registered voters residing within the District was included in the agenda package.

ELEVENTH ORDER OF BUSINESS	Supervisors' Requests
Mr. Blake asked if we wanted to issue a bond for building roadways how does that process work?
Mr. Flint stated there are underwriters that do that and there are two primary underwriters in the state you would probably want to consider. FMS Bonds and MBS Capital Markets, they probably do 95% of the CDD deals.
Ms. Tucker stated typically at the start of a project, which despite the age of the District Founders Ridge would be considered just beginning its construction and I don't believe we have an engineer's report currently or if we did it would need to be reviewed and updated to develop a capital improvement plan for the District that meets with the expectations of the development going forward. You develop that improvement plan, then engage certain professionals, one of

5

which is an underwriter. The District would also retain the services of bond counsel  to  ultimately deliver the tax-exempt opinion, but bond counsel also has a role in the preparation of all the closing documents that come with closing on the bonds, similar to the volume that typically follows closing on a mortgage. The District would adopt a bond  resolution preliminarily that would approve the forms of the indenture and the offering document and we would also levy a master assessment that would tie to the capital improvement  plan that would be developed by conversations with the engineer and the developer and levy that master assessment and ultimately the Board would approve two other resolutions, another supplemental bond resolution and a supplemental assessment resolution that would tie to the actual issuance itself once the bonds are marketed and priced. All together that can be a time intensive process although I suggest once the engineer's report and assessment process has begun you can close within 60 or 90 days. I suggest the first step should be engaging or having discussions with an underwriter because they can also assist in the sizing of the project itself and soon thereafter working with an engineering firm to develop the CIP itself.
Mr. Flint stated I would have to go back and look the Board may have had engaged MBS at some point early on, but you are not tied to that you can make a change. MBS is out of Winter Park, they are one of the major players. Technically, I believe you have a District Engineer  unless he resigned but it was Besch, which has now been bought by somebody else. The  engineer is critical to that and a lot of times the design engineer will serve as the District Engineer although that is not always the case. The design engineer tends to  be most  familiar with the project versus having a District Engineer that is not familiar. Getting the engineer onboard because the engineer's report is critical to the rest of the process, then an underwriter as well. The cost of bond counsel and the engineer's report and assessment  methodology  and all the costs related to the issuance typically are funded out of the proceeds of the bonds so there is a cost of issuance account that ends up paying those processionals. The underwriter's fee is netted out of the bonds as well. There is a bond team funding agreement that would  be required early on because if for example you get down the road and you don't ultimately end up issuing bonds some of the professionals still need to be paid, others work on contingent basis. Bond counsel only gets paid if you issue, our part of it with the assessment report we only get paid if we issue but the engineer and District Counsel usually get paid either way, they are not on a contingent basis.

6

Mr. Zagame asked do you have an idea of what it costs to get to that point?
Mr. Flint responded the cost of issuance is usually $175,000 but that is funded out of the cost of issuance account so it wouldn't be an out of pocket but there is out of pocket from the attorney and engineer.
Ms. Mackie stated typically the engineer's report is $15,000 to $20,000 and we typically get paid out of closing. If the bonds never issue that may not be the case, but we are comfortable waiting until closing to get paid.
Mr. Zagame asked ballpark what would your part be?
Ms. Mackie responded that would be related to how far down the process you go but as George indicated there is an assessment process as well. Our typical fee for a bond closing is a flat fee of $43,000 and ifwe don't close on the bond we bill at our hourly rate rather than the flat fee. Our costs associated with the flat fee anticipates the delivery of an opinion on the assessments at the end of the day and that is why charge at a flat rate for any bond closing.
Mr. Zagame asked is there anything we can't issue a bond and spend money on or is it anything within the CDD, like roadways, sidewalks, trees, what can we do or not do with that money?
Ms. Mackie stated generally speaking the District is limited to funding improvements that are public in nature. While taking roadways as an example as long as those roadways are either owned by the District, the county or the city those would be deemed public and the District can fund the construction of those roadways. Conversely, if you are going to gate the community and have the HOA own the roadways the District couldn't fund their construction even though they are located within the District boundaries. Generally speaking what I typically see nearly every District fund are the utilities and the stormwater system, despite whether or not the community is gated those are public improvements with no reasonable expectation of access and offsite improvements, utility construction and stormwater are sort of the base cost for any CDD and beyond that, roadways, landscaping, irrigation improvements, amenity centers, all sort of circle around the question, is it going to be a public improvement or is it going to be retained by private ownership.
Mr. Blake stated if the answer is retained by private ownership the CDD can't be doing it.
Constructing lots for a single-family residential subdivision, we can't do that.
Ms. Mackie stated that cannot be funded by the District.

7

Mr. Blake stated the road in front of the lots, the curbs to the road, the sewer, the water is all public not gated then it could do it.
Mr. Flint stated yes, even if it is gated you can do the water, sewer and stormwater.
Mr. Blake stated we have big hills here. To make those roads we would have to mass grade and roughly not pad ready the lots but you have to somewhat construct the lots to be able to construct the road. Is that a gray area?
Ms. Mackie stated what typically happens there is sometimes that is a nuance conversation with the District's bond counsel ultimately but what you typically see an engineer do to apportion the cost for the grading is look at ultimately what is on an acreage basis is going to be public versus private on a percentage basis and then apply the grading to those percentages. That is typically how that cost is broken down, the public aspect being funded by the District and the private aspect being funded by the developer.
Mr. Zagame stated we are going to have to find a new bond counsel.
Ms. Mackie stated George and I can get you a number of firms providing bond counsel service.
Mr. Blake stated I heard you say from the time we have the engineering report and opinions from the legal side, 60 - 90 days to closing. How long does it take before that to get the engineer's report and legal opinion?
Ms. Mackie stated it is the engineer's report and the Chapter 170 process to levy the assessments takes about 60-days once you have the engineer's report. I suggest George's team is able to prepare a methodology fairly quickly after the development of the engineer's report. The generation of the engineer's report takes some time and the sooner you can get started with that, the better. When they are able to focus the amount of time it would take to develop that is  usually a 30 - 45 day process for an engineer to develop that improvement plan. If you have the design engineer of record, obviously, that expedites their ability to prepare a  capital improvement plan for the District because they already have a very good understanding about what the overall development is going to entail.
Mr. Blake stated realistically it is six months to do this whole thing. Mr. Flint stated yes, it could be.
Ms. Mackie stated that is typically what we are providing in our timeline.

8

Mr. Flint stated a lot depends on the engineer and how quickly they can get that report done. The underwriter also has some due diligence when they are preparing the offering memorandum there is a lot of information they need to get from the landowner and developer to be incorporated into that offering statement. Depending on how quickly you can provide that information to them that is also an item that could take time, but that is in your court. Who is the design engineer?
Mr. Zagame asked does bond financing work like traditional lending? Obviously, this project is going to be built in phases. Can you have a future advance in a bond or do you just have as many bonds as you have phases.
Mr. Flint responded probably a project this size you are going to have multiple bond
issues.
Mr. Blake stated if we are going to spend $15 million total, but we are only going to
spend $5 million for the first two years, would you do a bond fund for $5 million and not $15 million?
Mr. Flint stated from a tax perspective you don't want to borrow more than what you would be able spend in three or four years.
Mr. Zagame asked are you drawing from a bond?
Ms. Mackie responded no, that is the difference. You are not drawing down on the bond so past the point of capitalized interest which typically can be a yar or two tops, at that point in time you will start assessing the landowners within the District, which in the early phases  is going to be the developer for the assessments due for the total outstanding principal and interest. That is why if you are only talking about spending $5 million within the first few years that is likely the first tranche of bonds you would issue to avoid paying interest on principal that is unused in the first two to three years.
Mr. Blake asked would we then have to pay the $175,000 and do the whole process over each tranche or can you do that part one time?
Mr. Flint stated each time you would have a cost of issuance.
Ms. Mackie stated if you are developing the entirety of the CIP understanding what the phasing is going to be with the expectation that there is going to be multiple phase issuances, sometimes you will see a slight reduction in consulting fees because you don't have the initial generation of some of the documents. They can be refreshed and updated opposed to being

9

drafted with the second or third issuance, whatever the case may be. I wouldn't suggest moving the needle significantly.
Mr. Zagame stated this is a real disadvantage of the bond, having to pay interest on the entire amount of the bond from day one.
Mr. Flint stated there are two ways to handle it as well as far as constructing the improvements. Larger developers will have the District acquire completed improvements so the developer will construct the improvements, then when they are complete the District will acquire those completed improvements. They have to front the cost and that is one approach.  Then, if that is the approach you time the issuance of the bonds with when the improvements are completed so you are not carrying the interest. The other way to do it is the  District  can construct the improvements. The District would actually bid and enter  into  construction contracts then as pay apps come in the District can fund those out of bond proceeds. One of the disadvantages of that approach is then you are subject to the public bidding process and a lot of those issues. If you do the acquisition approach administratively it is a little simpler, but again, you have to acquire completed improvements so you are carrying those costs for a period of  time.
Mr. Blake asked if the CDD does it the first way, buying completed improvements from a
developer do we have to follow the public bidding process?
Ms. Mackie responded no, you are entering into that contract prior to the issuance of the bond. The developer does not have to follow procurement guidelines, the District would have to follow the process in the acquisition agreement as far as what is required to acquire those facilities, but generally speaking it is not onerous and nothing the developer wouldn't already have in hand from their contractor, i.e. assigning warranties, making sure your engineer signs off that it is a cost under the CIP and it has been designed and built  to the specs, etc.  In that case  you don't have to follow procurement guidelines. If you are doing that and acquiring completed improvements, the likelihood that then you are also at a point at which you are going to start selling lots to third party homeowners or a builder then the responsibility to pay the assessment that has been assigned to that lot moves with the landowner so the likelihood that you are reaching that absorption stage is higher when you are financing at the point in time that the infrastructure is in the ground. You can also then capitalize the interest so that you do not have  an assessment payment due within the first year or possibly second year. There is not the ability

10

to push it off beyond two years, but you can capitalize some of the interest that would otherwise be due.
Mr. Zagame asked could there be a contract in place? The District would commit to purchasing the improvements from the developer once complete.
Mr. Blake stated correct.
Mr. Flint stated there is an acquisition agreement.
Ms. Mackie stated there is an acquisition. If we are talking  about a situation where you are timing your issuance with the completion of the infrastructure, typically what is happening is on the date of the closing we are processing the initial requisitions for cost of issuance, and the second requisition to acquire the completed infrastructure. The date at which you are funded is the date those funds also go out the door to reimburse the developer for the acquired infrastructure in that scenario. If you are doing it where you are not ready to acquire the infrastructure that early on, the acquisition agreement also then binds the District to acquire completed infrastructure so long as the District receives all of the representations that it would need under the acquisition agreement, the District would be acquiring that infrastructure. Obviously, the sole purpose for those funds, the District can't use them for anything else other than the public infrastructure identified in the CIP and the Board would be making all those decisions as well.
Mr. Zagame stated then the landowner can be the developer.
Mr. Flint stated a lot of times that is the case.
Mr. Zagame stated thank you for the education. This process is new to me, but the explanation is excellent it makes a lot of sense.
Mr. Flint stated I don't mean to speak for Tucker but I would think that she and I would  be available any time outside of a meeting as long as it is just one Board Member we are happy to continue these discussions with whoever we need to.
Ms. Mackie stated absolutely. We have presentations that kind of describe the District  and the financing process and George and I would be happy to go through with anyone again with the limitation of the sunshine law with respect to the supervisors. Also I can provide the contact information as can George for the two underwriters he mentioned. If you want to engage in discussions with either one of those individual firms a lot of times they can drill down into some of the development related questions that may assist in choosing a path forward.

11

Mr. Flint stated they are going to be interested in credit issues, do you have builders contracts and they can be helpful in the conversation and the scenarios and it doesn't cost you anything because they don't get paid unless we issue bonds.
Mr. Zagarne stated just to be clear on the sunshine law, could the three ofus conference with you, George, or with Tucker outside of a quarterly meeting?
Mr. Flint sated we would have to advertise it. We could advertise a workshop, you run a notice in the legal section of the newspaper. You can advertise a Board meeting and have those discussions if it is a workshop and you are not voting we could do those remotely via Zoon so we wouldn't have to have an in-person meeting.
Mr. Zagame stated the three of us work together, the sunshine law unfortunately doesn't promote this kind of collaborative conference.
Mr. Flint stated a lot of times you need to take that into account when you think of your Board Members. If you have a project and two of the people are involved in that project you have to be careful about who is on the Board. You may want to appoint someone who is not directly related. There is a distinction between developer discussion and Board discussion as well. It doesn't mean you can talk about the project, it is just the CDD aspect of the project that is the issue.

TWELTH ORDER OF BUSINESS	Adjournment

On MOTION by Mr. Blake seconded by Ms. Shields with all in favor the meeting adjourned at 12:11 p.m.

Secretary/Assistant Secretary	ChairmanNice Chairman

12

S ECTION IV

S ECTION A

RESOLUTION 2021-09

THE ANNUAL APPROPRIATION RESOLUTION OF THE FOUNDERS RIDGE COMMUNITY DEVELOPMENT DISTRICT ("DISTRICT") RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2021, AND ENDING SEPTEMBER 30, 2022; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has, prior to the fifteenth (15th) day in June, 2021, submitted to the Board of Supervisors ("Board") of the Founders Ridge Community Development District ("District") proposed budget ("Proposed Budget") for the fiscal year beginning October 1, 2021 and ending September 30, 2022 ("Fiscal Year 2021/2022") 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 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 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; and

WHEREAS, Section 190.008(2)(a), Florida Statutes, requires that, prior to October Ist of each year, the 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 FOUNDERS RIDGE COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. BUDGET

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

The 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 (" Adopted Budget"), 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.

The Adopted Budget, as amended, shall be maintained in the office of the District Manager and at the District's Local Records Office and identified as "The Budget for the Founders Ridge Community Development District for the Fiscal Year Ending September 30, 2022."

The Adopted Budget shall be posted by the District Manager on the District's official website within thirty (30) days after adoption, and shall remain on the website for at least 2 years.

SECTION 2. APPROPRIATIONS

There is hereby appropriated out of the revenues of the District, for Fiscal Year 2021/2022,
the sum of$ _  _  _  _  _  _  _	to be raised by the levy of assessments and/or otherwise, which
sum is deemed by the Board 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

$-	-	-	-	-	-	-	-

TOTAL ALL FUNDS

SECTION 3. BUDGET AMENDMENTS

$_ _ _ _ _

_ _ _

Pursuant to Section 189.016, Florida Statutes, the District at any time within Fiscal Year 2021/2022 or within 60 days following the end of the Fiscal Year 2021/2022 may amend its Adopted Budget for that fiscal year as follows:

A line-item appropriation for expenditures within a fund may be decreased or increased by motion of the Board recorded in the minutes, and approving the expenditure, if the total appropriations of the fund do not increase.

The District Manager or Treasurer may approve an expenditure that would increase or decrease a line-item appropriation for expenditures within a fund if the total appropriations of the fund do not increase and if either (i) the aggregate change in the original appropriation item does not exceed the greater of $15,000 or 15% of the original appropriation, or (ii) such expenditure is authorized by separate disbursement or spending resolution.

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

The District Manager or Treasurer must ensure that any amendments to the budget under paragraph c. above are posted on the District's website within 5 days after adoption and remain on the website for at least 2 years.

SECTION 4. EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 27th DAY OF JULY, 2021.

ATTEST:	FOUNDERS RIDGE COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary

By:_ Its:_

_	_	_	_	_

_   _   _   _   _ _

_	_	_	_	_	_

_  _  _  _  _  _  _

Founder s Ridge
Community Development District

Proposed Budget
FY 2 022

Table of Co n t e nts

1	 	General  Fund 

2-4	 	General  Fund Narrative 

Community Development District
Proposed Budget General Fund

	Adopted
Budget	Actuals
Thru	Projected
Next	ProJected
Thru	Proposed
Budget	
Dcscnption	FY2021	6/30/21	3 Months	9/30/21	FY2022	
Revenues						
Developer Contributions	$	43,175	$	32,381	$	10,794	$	43,175	$	41,875	
Total Revenues	$	43,17S	$	32,381	$	10,794	$	43,175	$	41,875	

ExPenditnres						
121:r:rzl & tldmiai tz:rztill.i:						
Supervisors Fees	$	4,000	$	$	1,800	$	1,800	$	4,000	
FICA Expense	$	306	$	$	92	$	92	$	306	
Engineering	$	2,000	$	$	$	$	2,000	
Attorney	$	6,000	$	7,473	$	2,491	$	9,96 4	$	6,000	
Annual Audit	$	3,500	$	$	$	$	3,500	
Management Fees	$	15,000	$	11,250	$	3,750	$	15,000	$	15,000	
Information Technology	$	1,000	$	750	$	250	$	1,000	$	1,200	
Website Maintenance	$	1,750	$	10	$	1,740	$	1,750	$	250	
Telephone	$	200	$	$	so	$	so	$	200	
Postage	$	1,000	$	4	$	250	$	254	$	1,000	
Insurance	$	5,625	$	1,812	$	$	1,812	$	5,625	
Printing & Binding	$	1,000	$	87	$	250	$	337	$	1,000	
Legal Advertising	$	1,000	$	418	$	250	$	668	$	1,000	
Other Current Charges	$	300	$	129	$	75	$	204	$	300	
Office Supplies	$	319	$	43	$	80	$	122	$	319	
Due,s Licenses, & Subscriptions	$	175	$	175	$		$	175	$	175	
Total Expenses	$	43,175	$	22,149	$	11,078	$	33,226	$	41,875	
											
.............t	)	I		I	10,i3i	I	(2Hl	i	9/lf'9	I		

REVENUES:

Developer Contributions

The District will enter into a Funding Agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.

EXPENDITURES:

Administrative:

Su pervisors Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each supervisor for the time devoted to District business and meetings. The amount is based on 3 supervisors attending 12 meetings during the fiscal year.

FICA Expense

Represents the Employer's share of Social Security and Medicare taxes withheld from Board of Supervisor checks.

Engineering

The District's engineer will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices, etc.

Attorney
The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

2

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

M anagemen t Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reporting, etc.

Information Technolo gy

Represents costs related to the District's information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District's website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Tele.phone

Telephone and fax machine.

Postage

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District's general liability, public officials' liability and property insurance coverages.

3

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Legal Advertising

The District is required to advertise various notices for Board meetings, public hearings, etc in a newspaper of general circulation.

Ot her Current Charges

Bank charges and any other miscellaneous expenses incurred during the fiscal year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Dues. Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.

4

S ECTION V

FOUNDERS RIDGE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022 FUNDING AGREEMENT

This agreement ("Agreement") is made and entered into this 1st day of October, 2021, by and between:

Founders Ridge Community Development District, a local unit of special­ purpose government established pursuant to Chapter 190, Florida Statutes, and located in the City of Minneola, Florida ("District"), and .

Founders Ridge Development, LLC, a Delaware limited liability company and a landowner in the District with an address of 1990 Main Street, Suite 801, Sarasota, Florida 34236; and

Founders Ridge Development II, LLC, a Delaware limited liability company and a landowner in the District (collectively with Founders Ridge Development, LLC, the "Developer") with an address of 1990 Main Street, Suite 801, Sarasota, Florida 34236.

RECITALS

WHEREAS, the District was established by an ordinance adopted by the City Council of the City of Minneola, Florida, for the purpose of planning, financing, constructing, operating and/or maintaining certain infrastructure; 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, Developer presently owns and/or is developing the majority of all real property described in Exhibit A, attached hereto and incorporated herein ("Property"), within the District, which Property will benefit from the timely construction and acquisition of the District's facilities, activities and services and from the continued operations of the District; and

WHEREAS, the District is adopting its general fund budget for the fiscal year beginning October 1, 2021 and ending September 30, 2022 ("Fiscal Year 2021/2022 Budget"); and

WHEREAS, this Fiscal Year 2021/2022 Budget, which both parties recognize may be amended from time to time in the sole discretion of the District, is attached hereto and incorporated herein by reference as Exhibit B; and

WHEREAS, the District has the option oflevying non-ad valorem assessments on all land, including the Property, that will benefit from the activities, operations and services set forth in the Fiscal Year 2021/2022 Budget, or utilizing such other revenue sources as may be available to it; and

WHEREAS, in lieu of levying assessments on the Property, the Developer is willing to provide such funds as are necessary to allow the District to proceed with its operations as described in Exhibit B; and

WHEREAS, the Developer agrees that the activities, operations and services provide a special and peculiar benefit equal to or in excess of the costs reflected on Exhibit B to the Property; and

WHEREAS, the Developer has agreed to enter into this Agreement in lieu of having the District levy and collect any non-ad valorem assessments as authorized by law against the Property located within the District for the activities, operations and services set forth in Exhibit B; and

WHEREAS, Developer and District desire to secure such budget funding through the imposition of a continuing lien against the Property described in Exhibit A and otherwise as provided herein.

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

FUNDING. The Developer agrees to make available to the District the monies necessary for the operation of the District as called for in the budget attached hereto as Exhibit B, as may be amended from time to time in the District's sole discretion. Developer agrees to pay
$3,597.92 on a monthly basis, commencing October 1, 2021 and continuing through Sept 1, 2022, to fund the Fiscal Year 2021/2022 Budget. Amendments to the Fiscal Year 2021/2022 Budget as shown on Exhibit B adopted by the District at a duly noticed meeting shall have the effect of amending this Agreement without further action of the parties. Funds provided hereunder shall be placed in the District's general checking account. These payments are made by the Developer in lieu of taxes, fees, or assessments which might otherwise be levied or imposed by the District.

CONTINUING LIEN. District shall have the right to file a continuing lien upon the Property described in Exhibit A for all payments due and owing under the terms of this Agreement and for interest thereon, and for reasonable attorneys' fees, paralegals' fees, expenses and court costs incurred by the District incident to the collection of funds under this Agreement or for enforcement this lien, and all sums advanced and paid by the District for taxes and payment on account of superior interests, liens and encumbrances in order to preserve and protect the District's lien. The lien shall be effective as of the date and time of the recording of a "Notice of Lien for Fiscal Year 2021/2022 Budget" in the public records of Lake County, Florida ("County"), stating among other things, the description of the real property and the amount due as of the recording of the Notice, and the existence of this Agreement. The District Manager, in its sole discretion, is hereby authorized by the District to file the Notice of Lien for Fiscal Year 2021/2022 Budget on behalf of the District, without the need of further Board action authorizing or directing such filing. At the District Manager's direction, the District may also bring an action at law against the record title holder to the Property to pay the amount due under this Agreement, or may foreclose the lien against the Property in any manner authorized by law. The District may partially release any filed lien for portions of the Property subject to a plat if and when the Developer has demonstrated, in

the District's sole discretion, such release will not materially impair the ability of the District to enforce the collection of funds hereunder. In the event the Developer sells any of the Property described in Exhibit A after the execution of this Agreement, the Developer's rights and obligations under this Agreement shall remain the same, provided however that the District shall only have the right to file a lien upon the remaining Property owned by the Developer.

ALTERNATIVE COLLECTION METHODS.

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

The District hereby finds that the activities, operations and services set forth in Exhibit B provide a special and peculiar benefit to the Property, which benefit is initially allocated on an equal developable acreage basis. The Developer agrees that the activities, operations and services set forth in Exhibit B provide a special and peculiar benefit to the Property equal to or in excess of the costs set forth in Exhibit B, on an equal developable acreage basis. Therefore, in the alternative or in addition to the other methods of collection set forth in this Agreement, the District, in its sole discretion, may choose to certify amounts due hereunder as a non-ad valorem assessment on all or any part of the Property for collection, either through the Uniform Method of Collection set forth in Chapter 197, Florida Statutes, or under any method of direct bill and collection authorized by Florida law. Such assessment, if imposed, may be certified on the next available tax roll of the County property appraiser.

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

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

ASSIGNMENT. This Agreement may be assigned, in whole or in part, by either party only upon the written consent of the other, which consent shall not be unreasonably withheld.

DEFAULT. A default by either party under this Agreement shall entitle the other to all remedies available at law or in equity, which shall include, but not be limited to, the right of damages, injunctive  relief and specific performance and specifically  including the ability of the

District to enforce any and all payment obligations under this Agreement in the manner described herein in Paragraphs 2 and 3 above.

THIRD PARTY RIGHTS; TRANSFER OF PROPERTY. This Agreement is solely for the benefit of the formal parties herein and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the parties hereto and their respective representatives, successors and assigns. In the event the Developer sells or otherwise disposes of its business or of all or substantially all of its assets relating to improvements, work product, or lands within the District, the Developer shall continue to be bound by the terms of this Agreement and additionally shall expressly require that the purchaser agree to be bound by the terms of this Agreement. The Developer shall give 90 days prior written notice to the District under this Agreement of any such sale or disposition.

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

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

EFFECTIVE DATE. The Agreement shall be effective after execution by both parties hereto. The enforcement provisions of this Agreement shall survive its termination, until all payments due under this Agreement are paid in full.

IN WITNESS WHEREOF, the parties execute this Agreement the day and year fust written above.

Attest:	Founders Ridge Community
Development District

SecretaryIAssistant Secretary	By:- - - - - - - - - - -
Its: - - - - - - - - - - -

Founders Ridge Development, LLC,
a Delaware limited liability company By: Avid Hunter Ltd., its Manager
By:   Avid  Hunter  Management	Inc., its General Partner

By: Klaus Gondert, President

Witness

Founders Ridge Development II, LLC,
a Delaware limited liability company By: Avid Hunter Ltd., its Manager
By: Avid Hunter Management Inc., its General Partner

By: Klaus Gondert, President

Witness

EXHIBIT A: Property Description
EXHIBIT B: Fiscal Year 2021/2022 Budget

S ECTION VII

S ECTION C

S ECTION 1

Founder s Ridge
Com munity Development Distr ict

Unaudited Financial Reporting
June 30, 202.1

Table of Contents

 	Balance Sheet

 	General Fund

 	Month to Month 

 	Develo per Contributions Schedule 

Founders Ridge
Community Development District
Combined Balance Sheet
June 30, 2021

Assets:	General
Fund		
Cash	$	11,549	
Due From Developer	$	161,071	
Total4'ssm	$	172J 6 :Z8	

Liabilities:
Accounts Payable	

$	

145,457	

Total Liabilities	$		145,457	
Fund Balances:		
Unassigned	$	27,163	
Total Fund Balances	$	27,163	

Total Liabilities & Fund Balance	
$	172,620	

Founders Ridge
Community Development District
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June:w, 2021

Actual

----L-- c:· .:  		  

Adopted	Prorated Budget
•·  -!  -  •,•  •,·- •!.; :/[}""	J_"     ;       ..  i •  ..•'    .,. i T,',..

Revenues		
Developer Contributions	$	43,175	$	32,381	$	32,381	$		
TotalR-es	$	43,175	$	32,381	$	32,381	$		

Exuendth1ces·						
C:CUccal &.tdmiaimlllt	·					
Supervisors Fees	$	4,000	$	3,000	$		$	3,000		
FICA Expense	$	306	$	230	$		$	230		
Engineering	$	2,000	$	1,500	$		$	1,500		
Attorney	$	6,000	$	6,000	$	7,473	$	(1,473)		
Annual Audit	$	3,500	$	3,500	$		$	3,500		
Management Fees	$	15,000	$	11,250	$	11,250	$		
Information Technology	$	1,000	$	750	$	750	$	0		
Websill! Malnb!nance	$	1,750	$	1,313	$	10	$	1,303		
Telephone	$	200	$	150	$		$	150		
Postage	$	1,000	$	750	$	4	$	746		
Insurance	$	5,625	$	4,219	$	1,812	$	2,407		
Printing & Binding	$	1,000	$	750	$	87	$	663		
legal Advertising	$	1,000	$	750	$	418	$	333		
Other Current Charges	$	300	$	225	$	129	$	97		
Office Supplies	$	319	$	239	$	43	$	197		
Dues, Ucenses, & Subscriptions	$	175	$	175	$	175	$		
Total )!'.llpt!lldltures	$	431175	$	34,800	s	22,149	$	-1Z1651		

Excess Revenues (Expenditures)	
S	
•		
S	
10,232			
Jlund Balance• Beginning	$			$				

 	s	$	

2

Founders Ridge

-	j.'ln

Community Development District
Month to Month

Oa

Nu,.,

Dec

J:c-h

Mar

Apr

M.a y

J un

Aug

fn tJ.l

ha!	!l

Developer Contributions	3,598	3,598	3,598	3.598	3,598	3,598	3,598	3,598	3,598	32,381
Tl>l:II,
.$	3;598	$	3.598	3.598	1,$98   f	3,598   $	3,598	3,598	l.SM   l	- I	s	32.HI
Rxpeudftnres·
r-cacml&4dmlaistta,mc·
Supervisor Fees FICA Expense Engineering
Attnmey	335	1,307	525	1,430	1,355	1,297	1,226	7,473
Annual Audit
Management Fees	1,250	1,250	1,250	1,250	1,250	1,250	1,250	1,250	1,250	11,250
Information Tecllnology		83	83		83	83	83		83	83		83	83			750	
Welmtr:: Maintenance		10														10	
Telephone																	
Postage												1	$	1	$		4	
Insurance												1,812		s		1,812	
Printing & Binding					14		40						33			87	
Legal Advertising		(69)			264							223				418	
OtherCurrentCharges		15	15		15	42	15			27						129	
Office Supplies		0			15		15		0				13			43	
Dues, Licenses, & Subscriptions		175														175	
	!	1!?.!!!	$	!16&	!	W!: !	:Y!!! !	!:!!!l!	s	!e!!!	:i.s1	t	4-,595	1;31111	s	t	s	_n., ,	
Excess Rcvenues (Exp eudll ur es)	S	1,799     $	'J4 3     $	1.431     $	793     $	1,.1 95     $	910    S	1;1..,1  !	(997)    $	21 113    $	•     S	.    i	S	10...l.Jl

3

Follllders Ridge Community Dewlopment District Developer CootrlbullomfDuefrom Dewl.oper

"""'""'

Pandlng	Pandlng	Punding	Check	To1al	General	General	General	Gen..-al	General	G.	i	Cm.11!!!1"..	
ReqW!St	Request	Recel-	Amomtt	Pandlng	Pund	Pund	Pund	Fund	Pund	Fund	Puod	

c a.1	0...-oad
Pund	fund	(1.barO
°""'	°""'	Portton PY14	Portton	Portton  wt6	Portton	Pardon  PY'l0        PvnJon	Hiilllu.c::1! Duti
12	9/ 10/ 12	2/21 / 13	5,00MO	5,000.00	5,000.00
FY2013
I-Revised	3/12/13       1/12/2013 & 10/10/11 $	6,105.17	12,190.99	12,190.99	6,08582
2	4/11/13	1,42653	1,42653	1,42653
3	5/13/13	1,33551	1,33551	1,335.51
6/13/13	2,067.63	2,067.63	2,067.63
7/12/13	1,881.08	1,881.08	1,881.08
8/14/13	1,54122	1,541.22	1,54122
9/ 16/ 13	7,02833	1,87833	5,150.00	7,028.33
FY2014
10/15/13	1,433.17	72.50	1,360.67    $	1,433.17
11/15/13	2,084.09	320.00	1,764.09    $	2,084.09
12/13/13	1,494.77	1,494.77    s	1,494.77
1/15/14	1,33333	1.33333   s	1,333.33
	2/13/14			1,334.52		1,334.52	$			1,33452	
	3/13/14			1,46956		1,469.56	s			1,46956	
	4/14/14			1,33333		1,333.33	$			1,33333	
	5/15/14			1,454.94		1,454.94	$			1,454.94	
	6/16/14			2,815.74		2,815.74	$			2,815.74	
10	7/15/14			2,057.73		2,057.73	$			2,057.73	
11	B/14/14			2,455.15		2,455.15	$			2,455.15	
12	9/ 16/ 14			2,313.32		2,313.32	$			2,313.32	
FY2015	
10/16/14			
1,415.05		
78.50		
1,336.55		
1,415.05	
	11/17/14			1$45.70				1,545.70		1,545.70	
	12/15/14			1,33333				1,333.33		1,333.33	
4	1/15/15			1,333.33				1,333.33		1,33333	
	2/11/15			1,334.15				1,334.15		1,334.15	
	3/12/15			1,33559				1,335.59		1,335.59	
	4/16/15			1,333.33				1,333.33		1,333.33	
	5/13/15			1,429.69				1,429.69		1,429.69	
	6/1/15			1,333.33				1,33333		1,333.33	
10	7/15/15			2,013.44				2,013.44		2,013.44	
11	8/12/15			2,009.20				2,009.20		2,009.20	
12
FY2016	9/ 8(15			1,333.33				1,33333		1,333.33	
	10/14/15			2,297.63				760.03	1,537.60	2,297.63	
	11/17/15			1,670.61				31B.00	1,352.61	1,670.61	
	12/14/15			1,480.40					1,480.40	1,480.40	
4	1/13/16			1,333.33					1,33333	1,33333	
	2/16/16			1,339.48					1,339.48	1,339.48	
	3/15/16			1,333.33					1,33333	1,333.33	
	4/12/16			1,333.33					1,33333	1,333.33	
	5/13/16			1,448.45					1,448.45	1,448.45	
	6/14/16			1,98757					1,98757	1,987.57	
10	7/13/16			1,334.63					1,334.63	1,334.63	
11	B/16/16			1,473.83					1,473.83	1,473.83	
12	9/ 20/ 16			2,736.33					2,73633	2,736.33	

4

Funding
Request
#	Funding
Request	.P..u.n..d.l.n.g.	Check
Date	Tomi
Pundlng	General
Pund	General
Pood
Portion '1114	General
Pood
Portion 15	General
Pood
Portion l"YJ6	General
Pood
Portion	General
Pood	General Pood	General
Pood
Portion , no	General Pood
Pordon m 1	lheraad (short)
Balance Due	

l!Y2017												
1-Revtsed	10/20/16			1,825.25	285.75	1,539.50					1,825.25	
2	11/18/16			1,649.24	305.50	1,343.74					1,649.24	
	12/16/16			1,33638		1,336.38					1,33638	
	1/31/17			1,538.81		1,538.81					1,538.81	
	2/17/17			1.618..83		1,618.83					1,618.83	
	3/31/17			1,336.01		1,336.01					1,336.01	
	4/11/17			1,33S30		1,335.30					1,33530	
	5/24/17			2,190.83		2,190.83					2,190.83	
	6/30/17			1,569.97		1,569.97					1,569.97	
10	7/26/17			1,33925		1,339.25					1,339.25	
11	8/23/17			1,667.18		1,667.18					1,667.18	
12	9/ 20(17			2,52737		2,527.37					2,52737	
F'l2018												
	10/18/17			1,617.00		8231	1,534.69				1,617.00	
	11/20/17			1,529.44		18S.OO	1,344.44				1,529.44	
	12/21/17			1,850.83			1,850.83				1,850.83	
	1/29/18			1,404.33			1,40433				1,404.33	
	2/13/18			1,334.58			1,33458				1,334.58	
	3/26/18			1,333.83			1,333.83				1,333.83	
	4/27/18			1,333.33			1,33333				1,333.33	
	5/30/18			2,478.03			2,478.03				2,478.03	
9	6/27/18			1,799.22			1,799.22				1,799.22	
10	7/27/18			3,622.73			3,622.73				3,622.73	
11	8/23/18			1,349.02			1,349.02				1,349.02	
12
FY2019	9 / 24/18			2,342.86			2,342.86				2,342.86	
	10/12/18			1,715.16			35950	1,355.66			1,715.16	
	11/29/18			2,409AB			540.50	1,868.98			2,409.48	
	1/31/19			1,453.20				1,453.20			1,453.20	
	1/31/19			1,33533				1,33533			1,335.33	
	2/26/19			1,336.36				1,33636			1,33636	
	3/20/19			1,33333				1,33333			1,333.33	
	4/10/19			96.00				96.00			96.00	
	5/24/19			1,098.90				1,098.90			1,098.90	
9 -Voided	5/24/19											
10	8/22/19			645.90				645.90			645.90	
11
FY2020	9J16(19			252.50				252.50			252.50	
	10/25/19			274.00				99.00	175.00		274.00	
	11/18/19			412.00				412.00			412.00	
	12/15/19			889.50					889.50		889.50	
	1/24/20			70.50					7050		70.SO	
	3/31/20			16,144.96				7,999.98	8,144.98		16,144.96	
	4/24/20			1,33333					1,33333		1,33333	
	5/29/20			1,481.76					1,481.76		1,481.76	
	6/30/20			1,45233					1,452.33		1,45233	
9	7/29/20			1,981.08					1,981.08		1,981.08	
10	8/31/20			1,37433					1,374.33		1,37433	
11	9/ 29/ 20			1,58733					1,58733		1,58733	
FY2021												
	12/31/20	2/1/21	11,147.00	11,147.00					35324	10,793.76		
	1/5/21	2/1/21	3,597.92	3,597.92						3,597.92		
	2/2/21	2/18/21	3,597.92	3.597.92						3,597.92		
	3/2/21	3/23/21	3,597.92	3,597.92						3,597.92		
	4/1/21	4/22/21	3,597.92	3,597.92						3,597.92		
	5/18/21	6/22/21	3,597.92	3,597.92						3,597.92		
	6/4/21	6/22/21	3,597.92	3,597.92						3,597.92		

Poumlers Ridge Community Development Dbtrlct lkvel.oper ContrlbulfonsfDue from Developer

°""'

Amount

lo ue from Developer 	3il 7l.4.S2	204,910.75	27,713.79	26,415.65	18,749.00	19.192.14	19!j10AB 	22,627.89	19,287.14 	18,843.38	32,381.28	161,071.06 
Total Developer Contributions Fl'21	 	32,381.28 

*FY13 Portion of Fundb:Jg Request

5

S ECTION 2

Payee

FY2021

1	FY21 - June 2021
O&M Funding

$	3,597.92

Total:	$	3,59 7.9 2

Please make check payable to:

Founders Ridge CDD 6200 Lee Vista Boulevard Suite 300
0 r1ando, FL 32822

Payee

FY2021

1	FY21 - July 2021
O&M Funding

$	3,597.92

Total:	$	3,59 7.9 2

Ple.ase make check payable to:

Founders Ridge CDD 6200 Lee Vista Boulevard Suite 300
Orlando, FL 32822

S ECTION 3

NOTICE OF MEETINGS FOUNDERS RIDGE COMMUNITY DEVELOPMENT DISTRICT
Fiscal Year 2022

As required by Chapter 190 Florida Statutes, notice is being given that the Board of Supervisors of the Founders Ridge Community Development District does not meet on a regular basis but will separately publish notice of meetings at least seven days prior to each Board meeting to include the date, time and location of said meetings. Meetings may be continued to a date, time, and place to be specified on the record at the meeting.
There may be occasions when one or more Supervisors will participate by telephone.
Any person requiring special accommodations at a meeting because of a  disability or physical impairment should contact the District Office at (407) 841-5524 at least forty-eight (48) hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service 1-800-955-8770, for aid in contacting the District Office.
Each person who decides to appeal any action taken at these meetings is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based.

George S. Flint District Manager
Governmental Management Services - Central Florida, LLC