Sanctuary Cove Community Development District
12051 Corporate Boulevard, Orlando) FL	32811
Phone 407-382-3256,- Fax 401-382-3254

Following is the proposed agenda for the Regular Board of Supervisors' Meeting for the Sanctuary Cove Community Development District ("District") that is scheduled to be held on Friday, September 29, 2017 at 11:30 a.m. at the Ruby Tuesday of Ellenton, 5802 20th Street East, Ellenton, FL 34222.

For those unable to attend in person, you may participate by telephone: Phone: 1-877-864-6450
Participant Code: 345750

Organizational Matters
Call to Order
Roll Call to Confirm a Quorum
Public Comment Period
Consideration of Minutes of the June 13, 2017 Board of Supervisors' Meeting
Consideration of Resolution 2017-04, Amending Resolution 2017-03 to Reschedule the Public Hearing Date Related to the Adoption of the Fiscal Year 2018 Budget
Consideration of Resolution 2017-05, Approving an Annual Meeting Schedule for Fiscal Year 2017-2018

Business Matters
Public Hearing on the Adoption of the District's Annual Budget
Public Comments and Testimony
Board Comments
Consideration of Resolution 2017-06, Adopting the Fiscal Year 2018 Budget and Appropriating Funds
Consideration of Funding Agreement for Fiscal Year 2017-2018
Ratification of FY 2017 Funding Requests - 4th Quarter #1, 2 and 3
Review and Acceptance of Fiscal Year 2016 Audit
Review of District's Financial Position and Budget to Actual Year to Date

Other Business
Staff Reports
District Counsel
District Manager
District Engineer
Audience Comments
Supervisors Requests

Adjournment

SANCTUARY	COVE COMMUNITY		DEVELOPMENT DISTRICT

Minutes of the June 13, 2017 Board of Supervisors' Meeting

SANCTUARY COVE COMMUNITY DEVELOPMENT DISTRICT

MINUTES
BOARD OF SUPERVISOR'S MEETING

The Board of Supervisor's Meeting for the Sanctuary Cove Community Development District was called to order on June 13, 2017 at 11:30 a.m. at the Ruby Tuesday of Ellenton, 5802 20th Street East, Ellenton, FL 34222. Board Members listed below constituted a quorum:

Bjorn Svenson Patricia Vanderveer Glen Bleau

Chair
Board Member Board Member

Also present were:

Doris Houck Clark Gates Jennifer Walden Jay Diceglie

Fishkind & Associates, Inc. Hopping Green & Sams Fishkind & Associates, Inc. Avanti Prope1iies Group

(via phone) (via phone)

FIRST ORDER OF BUSINESS	Public Comment Period

Ms. Houck noted that there were no members of the public present.

SECOND ORDER OF BUSINESS	Amending the Agenda

Ms. Houck requested amending the agenda with item 1 being moved to item 4.

ON MOTION by Ms. Vanderveer, and Second by Mr. Svenson, with all in favor, the Board of Supervisors for the Sanctuary Cove Community Development District approved Amending the Agenda with Item 1 being moved to Item 4.

THIRD ORDER OF BUSINESS	Consideration of Minutes of the August 30, 2016 Board of Supervisors' Meeting

The Board reviewed the minutes of the August 30, 2016 Board of Supervisors' Meeting. Ms. Houck provided edits.

ON MOTION by Mr. Svenson, and Second by Mr. Bleau, with all in favor, the Board of Supervisors for the Sanctuary Cove Community Development District approved the Minutes of the August 30, 2016 Board of Supervisors' Meeting, as amended.

FOURTH ORDER OF BUSINESS		Consideration of the Minutes of the November 1, 2016 Landowners' Election Meeting

The Board Members reviewed the minutes from the November 1, 2016 Landowners' Election Meeting.

ON MOTION by Mr. Svenson, and Second by Ms. Vanderveer, with all in favor, the Board of Supervisors for the Sanctuary Cove Community Development District approved the minutes of the November 1, 2016 Landowners' Election Meeting.

FIFTH ORDER OF BUSINESS		Consideration of Resolution 2017-01, Canvassing and Certifying the Results of the Landowners' Election

Ms. Houck explained Resolution 2017-01 which outlines the results of the Landowners' Election. Seats 1,2, and 5 were up for election. Ms. Vanderveer received 210 votes, Mr. Tannenbaum received 220 votes, and Mr. Bleau received 215 votes. She noted that the two with the highest number of votes will serve a 4-year term and the one with the least number of votes will serve a 2-year te1m.

ON MOTION by Mr. Svenson, and Second by Ms. Vanderveer, with all in favor, the Board of Supervisors for the Sanctuary Cove Community Development District adopted Resolution 2017-01, Canvassing and Ce1tifying the Results of the Landowners' Election.

SIXTH ORDER OF BUSINESS		Consideration	of	Gerald Tannenbaum's Resignation

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Letter	and	Naming	a Replacement Supervisor

Ms. Houck stated that the District Manager's office received a letter of resignation from Mr. Tannenbaum. She noted that the Board would need to accept this letter before moving forward with naming a replacement.

ON MOTION by Ms. Vanderveer, and Second by Mr. Svenson, with all in favor, the Board of Supervisors for the Sanctuary Cove Community Development District accepted Mr. Tannenbaum's Letter of Resignation with regret.

Ms. Houck noted that Mr. Tannenbaum was recently re-elected Seat #2 for a 4-year term. Ms. Houck called for nominations to name a replacement Supervisor.

ON MOTION by Mr. Svenson, and Second by Mr. Bleau, with all in favor, the Board of Supervisors for the Sanctuary Cove Community Development District appointed Mr. Diceglie to fill vacant Seat #2.

Ms. Houck administered the Oath of Office to Mr. Diceglie.

SEVENTH ORDER OF BUSINESS		Consideration of Resolution 2017-02, Election of Officers

Ms. Houck explained that previously she was Assistant Secretary and now that she is stepping back she recommends Ms. Walden fill in that role. She noted that previously the Chair was Mr. Svenson and the Vice-Chair was Ms. Kabourek and the Board could choose to keep those officers the same or change them.

ON MOTION by Mr. Svenson, and Second by Mr. Bleau, with all in favor, the Board of Supervisors for the Sanctuary Cove Community Development District approved Resolution 2017-02, Election of Officers as follows: Mr. Bjorn Svenson as Chair, Ms. Anne Kabourek as Vice-Chair, Mr. Joe MacLaren as Secretary, and Ms. Jennifer Walden, Mr. Glen Bleau, Mr. Jay Diceglie and Ms. Patricia Vanderveer and Assistant Secretaries.

EIGHTH ORDER OF BUSINESS	Ratification	of	FY	2016 Funding Request #40

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Ratification of FY 2017 Funding Requests - 1st Quarter, 2nd Quarter & 3rd Quarter

Ratification of Payment Authorization #1

Ms. Houck noted that the Payment Authorization and Funding Requests have already been approved and funded and just need to be ratified by the Board.

ON MOTION by Mr. Svenson, and Second by Mr. Bleau, with all in favor, the Board of Supervisors for the Sanctuary Cove Community Development District ratified FY 2016 Funding Requests #40, FY 2017 Funding Requests 1st Quarter,  2nd Quarter & 3rd Quarter, and Payment Authorization #1.

NINTH ORDER OF BUSINESS		Consideration of Resolution 2017-03, Approving a Preliminary Budget for Fiscal Year 2018 and Setting a Public Hearing Date

Ms. Houck stated that the budget was circulated prior to the meeting. Ms. Walden suggested holding the public hearing on September 12, 2017 which is the normal schedule meeting for that month. She noted that the Board will adopt the final budget at that hearing.

ON MOTION by Mr. Svenson, and Second by Mr. Bleau, with all in favor, the Board of Supervisors for the Sanctuary Cove Community Development District adopted Resolution 2017-03, Approving a Preliminary Budget for Fiscal Year 2018 and Setting the Public Hearing for September 12, 2017 at 11:30 at Ruby Tuesday of Ellenton, 5802 20th Street East, Ellenton, FL 34222.

TENTH ORDER OF BUSINESS	Review of District Financial Statements

The Board reviewed the District's financial position. No action is required by the Board.

ELEVENTH ORDER OF BUSINESS	Staff Reports

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District Counsel - District Manager - Engineer-

No Report No Repo1i Not Present

TWELFTH OFDER OF BUSINESS	Audience	Comments, Supervisors Requests and Adjournment

There were no other questions or comments.

ON MOTION by Mr. Svenson, and Second by Mr. Bleu, with all in favor, the June 13, 2017 Board of Supervisors meeting for the Sanctuary Cove Community Development District was adjourned.

Secretary/Assistant Secretary	Chai1man

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SANCTUARY COVE COMMUNITY DEVELOPMENT DISTRICT

Resolution 2017-04,
Amending Resolution 2017-03 to Reschedule the Public Hearing Date Related to the Adoption of the Fiscal Year 2018 Budget

RESOLUTION 2017-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE SANCTUARY COVE COMMUNITY DEVELOPMENT DISTRICT RATIFYING THE ACTIONS OF  THE DISTRICT MANAGER IN RE-SCHEDULING AND RE­ NOTICING THE PUBLIC HEARING ON THE DISTRICT'S ADOPTION OF THE FISCAL YEAR 2017/2018 BUDGET; AMENDING RESOLUTION 2017-03 TO SET THE PUBLIC HEARING THEREON FOR SEPTEMBER 29, 2017,  AT 11:30 A.M. AT 5802 20™ STREET EAST, ELLENTON, FLORIDA 34222.

WHEREAS, the Sanctuary Cove Community Development District (the "District") is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated within Manatee County, Florida; and

WHEREAS, the Board of Supervisors of the District (the "Board") previously adopted Resolution 2017-03, which, among other things, set the date, time, and location for the public hearing to consider the adoption of the District's proposed budgets for the fiscal year beginning October 1, 2017, and ending September 30, 2018 ("Fiscal Year 2017/2018"), for September 12, 2017,and

WHEREAS, on September 4, 2017, Florida Governor Rick Scott issued Executive Order 17-235 (the "Executive Order") declaring a state of emergency in Florida as a result of Hurricane Irma; and

WHEREAS, on September 6, 2017, pursuant to the Executive Order, the State of Florida Depmtment of Revenue, (the "Depmtment"), issued an Emergency Order, (the "Emergency Order") extending the statutory time frames for the adoption of budgets and the certification of tax rolls; and

WHEREAS, on September 8, 2017, the Depmtment issued an amended Emergency Order, (the "Amended Emergency Order"), providing for special publication time frames for budget hearing notices of a public hearings that were cancelled as a result of Hurricane Irma; and

WHEREAS, on September 12, 2017, the District was unable to hold the public hem·ing as a result of circumstances related to HmTicane Irma; and

WHEREAS, the District Manager caused notice of a re-scheduled public hearing to be given by publication pursuant to the Amended Emergency Order; and

WHEREAS, the District Manager, at the direction of the Chairman of the Board of Supervisors, rescheduled the date of the public hearing to September 29, 2017, at 11:30 a.m. at 5802 30th Street East, Ellenton, Florida 34222 and caused notice thereof to be provided pursuant to Florida law.

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NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE SANCTUARY COVE COMMUNITY DEVELOPMENT DISTRICT;

SECTION 1. Resolution 2017-03 is hereby amended to reflect the changed date of the public hearing on the adoption of the proposed budgets for Fiscal Year 2017/2018 from September 12, 2017 to September 29, 2017.

SECTION 2. The action of the District Manager in re-scheduling and re-noticing the public hearing is hereby ratified and approved.

Adopted this 29th day of September, 2017.

ATTEST:		SANCTUARY	COVE	COMMUNITY DEVELOPMENT DISTRICT

Secretary

By:
Its: 		_

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SANCTUARY COVE COMMUNITY DEVELOPMENT DISTRICT

Resolution 2017-05,
Approving an Annual Meeting Schedule for Fiscal Year 2017-2018

RESOLUTION 2017-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF SANCTUARY COVE COMMUNITY DEVELOPMENT DISTRICT ADOPTING THE ANNUAL MEETING SCHEDULE FOR FISCAL YEAR 2017-2018

WHEREAS, the Sanctuary Cove Community Development District (the "District") is a local unit of special-purpose government organized and existing in accordance with Chapter 190 Florida Statutes; and

WHEREAS, the District is required by Florida law to prepare an annual schedule of its regular public meetings which designates the date, time and location of the District's meetings; and

WHEREAS, the Board has proposed the Fiscal Year 2017-2018 annual meeting schedule as attached in Exhibit A;

NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF THE SANCTUARY COVE COMMUNITY DEVELOPMENT DISTRICT

The Fiscal Year 2017-2018 annual public meeting schedule attached hereto and incorporated by reference herein as Exhibit A is hereby approved and will be published in accordance with the requirements of Florida law.

This Resolution shall become effective immediately upon its adoption.

PASSED AND ADOPTED THIS 29th DAY OF SEPTEMBER, 2017.

ATTEST:	SANCTUARY COVE
COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson/Vice Chairperson

BOARD OF SUPERVISORS MEETING DATES SANCTUARY COVE DISTRICT
FISCAL YEAR 2017-2018

November  14, 2017
February  13, 2018
May 8, 2018
August 14, 2018

All meetings will convene at 11:30 a.m. on the specified dates at the Ruby Tuesday of Ellenton, 5802 20th Street East, Ellenton, Florida 34222.

SANCTUARY	COVE COMMUNITY DEVELOPMENT DISTRICT

Resolution 2017-06,
Adopting the Fiscal Year 2018 Budget and Appropriating Funds

RESOLUTION 2017-06

THE ANNUAL APPROPRIATION RESOLUTION OF THE SANCTUARY COVE COMMUNITY DEVELOPMENT DISTRICT ("DISTRICT") RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2017, AND ENDING SEPTEMBER 30, 2018; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has, prior to the fifteenth (15th) day in June, 2017, submitted to the Board of Supervisors ("Board") of the Sanctuary Cove Community Development District ("District") proposed budget ("Proposed Budget") for the fiscal year beginning October 1, 2017 and ending September 30, 2018 ("Fiscal Year 2017/2018") 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 September 29, 2017, as the date for a public hearing thereon and caused notice of such public hearing to be given by publication pursuant to Section 190.008(2)(a), Florida Statutes; and

WHEREAS, the District Manager posted the Proposed Budget on the District's website at least two days before the public hearing; and

WHEREAS, Section 190.008(2)(a), Florida Statutes, requires that, prior to October  pt 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 SANCTUARY COVE 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 Sanctuary Cove Community Development District for the Fiscal Year Ending September 30, 2018."

The Adopted Budget shall be posted by the District Manager on the District's official website within thi1iy (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 2017/2018, the sum of $17,521 to be raised by the levy of assessments and 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

$ 17,521

$ 17,521

SECTION 3. BUDGET AMENDMENTS

Pursuant to Section 189.016, Florida Statutes, the District at any time within Fiscal Year 2017/2018 or within 60 days following the end of the Fiscal Year 2017/2018 may amend its Adopted Budget for that fiscal year as follows:

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

Page 2 of 3

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

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

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

The District Manager or Treasurer must establish administrative procedures to ensure that any budget amendments are in compliance with this Section 3 and Section 189.016, Florida Statutes, among other applicable laws. Among other procedures, the District Manager or Treasurer must ensure that any amendments to budget under subparagraphs c. and d. 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

ATTEST:

DAYOF 	,2017.

SANCTUARY COVE COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary

By:---­

Its:

Page 3 of3

Revenues:
Developer Contribution Total Revenues

Adopted Budget
FY 2017

Adopted Budget
FY 2018

 	$16,463	$17,521 

$16,463

$17,521

Expenditures:

Miscellaneous charges Total Expenditures

 	$0	$0

$16,463

$17,521

Sanctuary Cove Community Development District Adopted Annual Operations & Maintenance Budget Fiscal Year 2018

Engineering Fees	$1,000	$1,000	
Trustee Fees	$0	$0	
District Management Fees	$3,000	$3,000	
District Counsel Fees	$5,000	$6,000	
Audit Fees	$2,500	$2,500	
Dissemination Agent	$0	$0	
Travel & Per Diem	$0	$0	
Telephone	$50	$50	
Mailing Expenses	$100	$100	
General Liability, D&O Insurance	$2,888	$2,946	
Printing & Binding	$50	$50	
Legal Advertising	$500	$500	
Dues, Licenses & Fees	$175	$175	
Bank Fees	$250	$250	
Office Supplies	$50	$50	
Website Maintenance	$900	$900	

SANCTUARY COVE COMMUNITY DEVELOPMENT DISTRICT

Funding Agreement for Fiscal Year 2017-2018

SANCTUARY COVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018 FUNDING AGREEMENT

This  agreement  ("Agreement")  is  made  and  entered  into this _	day of 2017, by and between:

------

Sanctuary Cove Community Development District, a local unit of special­ purpose government established pursuant to Chapter 190, Florida Statutes, and located in Manatee County, Florida (hereinafter "District"), and

Sanctuary Cove (Bradenton) ASLI VI, L.L.L.P., a Foreign Limited Partnership, and a landowner in the District (hereinafter "Developer") with an address of 923 N. Pennsylvania Avenue, Winter Park, Florida 32789.

RECITALS

WHEREAS, the District was established by an ordinance adopted by the City Council of the City of Palmetto, Florida, for the purpose of planning, financing, constructing, operating and/or maintaining ce1iain 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 Prope1iy 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, 2017 and ending September 30, 2018 ("Fiscal Year 2017/2018 Budget"); and

WHEREAS, this Fiscal Year 2017/2018 Budget, which both pmiies 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 of levying non-ad valorem assessments on all land, including the Prope1iy, that will benefit from the activities, operations and services set forth in the Fiscal Year 2017/2018 Budget, or utilizing such other revenue sources as may be available to it; and

WHEREAS, in lieu of levying assessments on the Prope1iy, 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

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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 Prope1iy 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 Prope1iy 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, within fifteen (15) days of written request by the District. Amendments to the Fiscal Year 2017/2018 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 Prope1iy 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 incun-ed 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 2017/2018 Budget" in the public records of Manatee County, Florida ("County"), stating among other things, the description of the real prope1iy 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 2017/2018 Budget on behalf of the District, without the need of fu1iher 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 Prope1iy to pay the amount due under this Agreement, or may foreclose the lien against the Prope1iy in any manner authorized by law. The District may partially release any filed lien for pmiions of the Prope1iy 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 Prope1iy described in Exhibit A after the execution of this Agreement, the Developer's rights and obligations under this Agreement shall remain the same,

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provided however that the District shall only have the right to file a lien upon the remaining Prope1iy 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 pmiy is required to enforce this Agreement by  comi proceedings or otherwise, then the paiiies agree that the prevailing paiiy shall be entitled to recover from the other all costs incuned, 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 fo1ih in Exhibit B provide a special and peculiar benefit to the Prope1iy, which benefit is initially allocated on an equal developable acreage basis. The Developer agrees that the activities, operations and services set f01ih in Exhibit B provide a special and peculiar benefit to the Property equal to or in excess of the costs set fmih 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 paii of the Property for collection, either through the Unifonn Method of Collection set fmih in Chapter 197, Florida Statutes, or under any method of direct bill and collection authorized by Florida law. Such assessment, if imposed, may be ce1iified on the next available tax roll of the County prope1iy appraiser.

AGREEMENT; AMENDMENTS. This instrument shall constitute the final and complete expression of the agreement between the pmiies 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 paiiies hereto.

AUTHORIZATION. The execution of this Agreement has been duly authorized by the appropriate body or official of all pmiies hereto, each paiiy 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 pmi, by either paiiy only upon the written consent of the other, which consent shall not be umeasonably withheld.

DEFAULT. A default by either pmiy 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, iajunctive 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.

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THIRD PARTY RIGHTS; TRANSFER OF PROPERTY. This Agreement is solely for the benefit of the fmmal paiiies 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 fo1mal 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 paiiies 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 paiiies 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 te1ms 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 paiiies paiiicipated 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 paiiies execute this Agreement the day and year first written above.

Attest:	Sanctuary Cove Community
Development District

Secretary/Assistant Secretary	By: 		_
Its:	 	_

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Sanctuary Cove (Bradenton) ASLI VI, L.L.L.P.,
a Foreign Limited Partnership

Witness	By:==	=-=-=
Its:    	

EXHIBIT A: Property Description
EXHIBIT B: Fiscal Year 2017/2018 Budget

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BK 2231 PG 5762  (5 of 92)

Ordinance No. 07 - 952
Page 5 of5

EXHIBIT A

LEGAL DESCRIPTION (MASTER LAYOUT WITH SOMA)
A PARCEL OF LAND LYING AND BEING IN SECTIONS 18 AND 19, TOWNSHIP 34 SOUTH, RANGE 18 EAST AND SECTIONS 13 AND 24, TOWNSHIP 34 SOUTH, RANGE 17 EAST, IMNATEE COUNiY, FLORIDA.

COMMENCE AT THE SOUTHWEST CORNER OF SAID SECTION 18; THENCE N.OO'OT57"E. ALONG THE WEST LINE OF SAID SECTION 18, A DISTANCE OF 660.51 FEET FOR A POINT OF BEGINNING; THENCE CONTINUE N.00'07'5rE., ALONG SAID WEST LINE, A DISTANCE OF 1,947.52 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE SOUTHERLY RIGHT OF WAY LINE OF U.S. HIGHWAY 301 (STATE ROAD 43); THENCE N.89'05'42"E., ALONG SAID SOUTHERLY RIGHT OF WAY LINE A DISTANCE OF 1,318.44 FEET; THENCE LEAVING SAID SOUTHERLY RIGHT OF WAY LINE S.00'04'2JW., A DISTANCE OF 39.17 FEET TO A POINT OF CURVATURE OF A NON•TANGENTIAL CURVE, CONCAVE EAST, OF WHICH THE RADIUS POINT LIES 5.89' 53'02"E., A RADIAL DISTANCE OF 530.00 FEET; THENCE SOUTHERLY ALONG THE ARC Of SAID CURVE THROUGH A CENTRAL ANGLE OF 28'46'55", A DISTANCE OF 266.24 FEET, SAID CURVE BEING SUBTENDED BY A CHORD THAT BEARS S.14' 16'30"E., A DISTANCE OF 263.45 FEET TO A POINT OF CURVATURE OF A NON• TANGENTIAL CURVE, CONCAVE SOUTHWEST,  OF WHICH THE RADIUS  POINT LIES S.61'20'59"W., A RADIAL DISTANCE OF 3,486.07 FEET; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 05'29'03", A DISTANCE OF 333.67 FEET, SAID CURVE BEING SUBTENDED BY A CHORD THAT BEARS S.25'54'30"E., A DISTANCE OF 333.54 FEET; THENCE S.23.08'56"E., A DISTANCE OF 93.27 FEET TO A POINT OF CURVATURE OF A NON­ TANGENTIAL CURVE, CONCAVE WEST, OF WHICH THE RADIUS POINT LIES S.66' 47'49'W., A RADIAL DISTANCE OF 375.00 FEET; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 17"02'30", A DISTANCE OF 111.54 FEET, SAID CURVE BEING SUBTENDED BY A CHORD THAT BEARS S.14'40'56"E., A DISTANCE OF 111.13 FEET; THENCE S.00'07'33"W., A DISTANCE OF 699.28 FEET; THENCE S,89' 59'12"E., A DISTANCE OF 774.03
FEIT; THENCE S.00'00'02-W., A DISTANCE OF 250.59 FEET; THENCE S.89' 58'24"E., A DISTANCE OF 397.18 FEET; THENCE 5.00'00'48-W., A DISTANCE OF 823.94 FEET; THENCE S.89"48'Z1"E., A DISTANCE OF 750,98 FEET; THENCE S.OO'OO'ZO"E., A DISTANCE OF 174.11 FEET; THENCE
S.64' 40'54"W., A DISTANCE OF 51,50 FEET; THENCE S.20'41'44-W., A DISTANCE Of 15.39 FEET; THENCE S.45'26'47'W., A DISTANCE OF 74.42 FEET; THENCE 5.42'54'25-W., A DISTANCE OF
23.43 FEET; THENCE N.57'34'10"W., A DISTANCE OF 30.28 FEET; THENCE S.39'25'31"W., A DISTANCE OF 26.42 FEET; THENCE 5.38' 35'12"W., A DISTANCE OF 46.53 FEET; THENCE
S.09' 22'44"W., A DISTANCE OF 59.83 FEET; THENCE S.73' 11'37'W., A DISTANCE OF 15.36 FEET; THENCE S.23'44'01'W,, A DISTANCE OF 27.70 FEET; THENCE S.04'56'33"E,, A DISTANCE OF
21.82 FEET; THENCE S.09' 55'38'W., A DISTANCE OF 67.46 FEET; THENCE S.10'36'23"E., A DISTANCE OF 50.64 FEET; THENCE S.13'05'16"W., A DISTANCE OF 42.35 FEET; THENCE
S.06' 13'46"E., A DISTANCE OF 45.71 FEET; THENCE S.14'07'02'W., A DISTAHCE OF 9.35 FEET; THENCE S.75"06'20'W., A DISTANCE OF 106.37 FEET; THENCE N.87'31'59-W., A DISTANCE OF
56.81 FEET; THENCE s.08·12'26"E., A DISTANCE OF 12.61 FEET; THENCE S.69' 11'23"W., A DISTANCE OF 33.50 FEET; THENCE N.89'09'48"W,, A DISTANCE Of 14.38 FEET; THENCE N.07'03'1B"W., A DISTANCE OF 20.27 FEET; THENCE N.00' 54'02"W., A DISTANCE OF 22.90 FEET; THENCE N.11'42'49"W., A DISTANCE OF 40.93 FEET; THENCE S.59'22'45-W., A DISTANCE OF 9.17 FEET; THENCE N.22' 16'10"W., A DISTANCE OF 32.06 FEET; THENCE S.65' 13'43"E., A DISTANCE OF 20.86 FEET; THENCE N.01'51'14"E., A DISTANCE OF 35.86 FEET; THENCE N.00'25'50"E., A DISTANCE OF 15.97 FEET; THENCE S.TI'52'59"W., A DISTANCE OF 20.90 FEET; THENCE
N.65' 24'33"W., A DISTANCE OF 31.29 FfET; THENCE N.82' 5T58"W., A DISTANCE OF 33.56 FEET; THENCE N.59'55'53-W., A DISTANCE OF 31.39 FEET; THENCE N.44'0749"W., A DISTANCE OF
20.49 FEET; THENCE S.84'50'14"W., A DISTANCE OF 78.46 FEET; THENCE S.65" 19'50'W., A DISTANCE OF 39.34 FEET; THENCE S.26'48'57"W., A DISTANCE OF 37.82 FEET; THENCE N.87'04'28"W., A DISTANCE OF 23.12 FEET; THENCE S.10'44'12"E., A DISTANCE OF 27,64 FEET; THENCE S.44'14'41"W., A DISTANCE OF 42.10 FEET; THENCE S.00'00'48'W., A DISTANCE OF
122. 28 FEET TO THE INTERSECTION WITH THE MEAN HIGH WATER LINE OF THE NORTHERLY SHORE OF THE MANATEE RIVER AS ESTABLISHED BY GEORGE F. YOUNG 05/15/03; THENCE

BK 2231 PG 5763 (6 of 92)

Ordinance No. 07-952 Exhibit A (cont'd) Page 6

(

ALONG SAID NORTHERLY SHORE IN A WESTERLY DIRECTION THE FOLLOWING NINETY FIVE COURSES; THENCE S.75'54'29"W., A DISTANCE OF 64.70 FEET; THENCE S.59'28'26'W., A DISTANCE OF 32.35 FEET; THENCE S.75"46'39'W., A DISTANCE OF 59.11 FEETi THENCE
5.42' 31'58"W., A DISTANCE OF 72.97 FEET; THENCE S.75"4756"W., A DISTANCE OF 45.72 FEET; THENCE S.77'50'3rw., A DISTANCE OF 48.76 FEET; THENCE N.55'08'56"W,, A DISTANCE OF 45,67 FEET; THENCE S.58"01'06"W., A DISTANCE OF 76.81 FEET; THENCE S.86'05'35"W., A DISTANCE OF 49.04 FEET; THENCE S.66"35'11'W., A DISTANCE OF 43.26 FEET; THENCE
N.85' 05'52-W., A DISTANCE OF 50.60 FEET; THENCE S.70'05'53"W., A DISTANCE OF 81.61 FEET; THENCE S.53' 41'01'W., A DISTANCE OF 53.79 FEET; THENCE S.54'25'33-W., A DISTANCE OF
56.20 FEET; THENCE S.54"58'42"W., A DISTANCE OF 65.48 FEET; THENCE S.62'l5'55"W., A DISTANCE OF 42.55 FEET; THENCE S.58°37'17'W., A DISTANCE OF 57.71 FEET; THENCE
S.68' 35'50"W., A DISTANCE Of 70,71 FEET; THENCE S.53' 19'19"W., A DISTANCE Of 60.82 FEET; THENCE S.67"48'50'W., A DISTANCE OF 61.68 FEET; THENCE S,64"42'39'W., A DISTANCE OF
61.56 FEET; THENCE S.36"10'42'W,, A DISTANCE OF 34,33 FEET; THENCE S.5-4'21'47"W., A DISTANCE OF 232.40 FEET; THENCE S.54"09'35-W., A DISTANCE OF 179.97 FEET; THENCE
S.66' 18'21'W., A DISTANCE OF 17.59 FEET; THENCE S.85'02'55'W., A DISTANCE OF 14.20 FEET; THENCE N.85°05'52'W., A DISTANCE OF 19.58 FEET; THENCE N.66'41'21'W., A DISTANCE OF 147,08 FEET; THENCE N,66' 26'07"W., A DISTANCE OF 182.11 FEET; THENCE N.28'25'21-W,, A DISTANCE OF 46.26 FEET; THENCE t-l.72 '40'49"W,, A DISTANCE OF 66.73 FEET; THENCE N.73'29'51"W,, A DISTANCE OF 56.18 FEET; THENCE N.46'40'21"W., A DISTANCE OF 75.26 FEET; THENCE N.58'27'25'W., A DISTANCE OF 67.39 FEET; THENCE N.80'24'56"W., A DISTANCE OF
71.73 FEET; THENCE N.58'14'35"W., A DISTANCE OF 70,96 FEET; THENCE N.50'34'03"W., A DISTANCE OF 55.34 FEET; THENCE N.10'58'04'W., A DISTANCE OF 38.12 FEET; THENCE N.72"07'55-W., A DISTANCE OF 57.93 FEET; THENCES.73°06'53"W., A DISTANCE OF 31.89 FEET; THENCE N.82'30'25"W., A DISTANCE OF 70.78 FEET; THENCE N.59'58'50-W., A DISTANCE OF
42.15 FEET; THENCE N.36' s2·12·w., A DISTANCE OF 63.87 FEET; THENCE N.47' 45'55"W,, A DISTANCE OF 62.35 FEET; THENCE N.12 '24'46'E,, A DISTANCE OF 94.47 FEET; THENCE
N.Dt "09'40'W., A DISTANCE OF 162.78 FEET; THENCE N.31'01'12-W., A DISTANCE OF 136.34 FEET; THENCE l-l.69'59'2TW., A DISTANCE OF 196.93 FEET; THENCE S.86'25'13"W., A DISTANCE OF 120.63 FEET; THENCE N.03"30'54"W., A DISTANCE OF 87.57 FEET; THENCE N.04' 33'31"E., A DISTANCE OF 28.59 FEET; THENCE N.07'07'06"E., A DISTANCE OF 32.68 FEET; THENCE S,89'51'26'W., A DISTANCE OF 99.54 FEET; THENCE S.41'41'41'W., A DISTANCE OF 62.03 FEET; THENCE S.79" 33'41"E,, A DISTANCE OF 91.77 FEET; THENCE S.01'34'02"E., A DISTANCE OF 21.71 FEET; THENCE S.86' 38'17W., A DISTANCE OF 16f.96 FEET; THENCE S.07"53'56"E., A DISTANCE OF 107.59 FEET; THENCE N.85' 35'15"E., A DISTANCE OF 95,07 FEET; THENCE S.86' 14'58"E., A DISTANCE OF 104.83 FEET; THENCE S.21'38'48"E,, A DISTANCE OF 100,95 FEET; THENCE
S,04' 13'16"E., A DISTANCE OF 112.20 FEET; THENCE S.01 "42'28"E., A DISTANCE OF 94.17 FEIT; THENCE N.87"44'10"E., A DISTANCE OF 36.42 FEET; THENCE S.87" 51'16"E., A DISTANCE OF 42.19
FEET; THENCE S.62'45'37"E., A DISTANCE OF 180.99 FEET; THENCE S.80' 12'39'W,, A DISTANCE OF 26.98 FEET; THENCE N.84' 56'31'W., A DISTANCE OF 70.95 FEET; THENCE N.56"43'03"W., A DISTANCE OF 53.30 FEET; THENCE N.89'36'46"W., A DISTANCE OF 66.59 FEET; THENCE
S,88' 47'50"W., A DISTANCE OF 45.66 FEET; THENCE S.88'34'39'W., A DISTANCE OF 46.09 FEET; THENCE N.72"25'39'W., A DISTANCE OF 77.67 FEET; THENCE N.73'38'52'W., A DISTANCE OF
71.36 FEET; THENCE N.87'39'29-W., A DISTANCE OF 87.84 FEET; THENCE N.87' 12'21-W., A DISTANCE OF 57.45 FEET; THENCE N.83'49'13'W., A DISTANCE OF 62.50 FEET; THENCE N.53'22'26'W., A DISTANCE OF 45.10 FEET; THENCE N.72" 59'51-W., A DISTANCE OF 60.95 FEET; THENCE N.86'59'35"W., A DISTANCE OF 71,36 FEET; THENCE N.82' 22'09"W,, A DISTANCE OF
34.83 FEET; THENCE N.65'24'26-W., A DISTANCE OF 67.56 FEET; THENCE N.49'02'28"W., A DISTANCE OF 79.68 FEET; THENCE N.35" 15'03'W., A DISTANCE OF 55.45 FEET; THENCE N,54'26'36'W., A DISTANCE OF 116.19 FEET; THENCE N.58'3T44"W., A DISTANCE OF 73.45 FEET; THENCE S.71"19'45'W,, A DISTANCE OF 122.93 FEET; THENCE S.35' 13'51'W,, A DISTANCE OF 61.16 FEET; THENCE S.33'13'10'W,, A DISTANCE OF 53.56 FEET; THENCE S.10"4213-W., A DISTANCE OF 77.QJ FEET; THENCE 5.45" 18'37"W., A DISTANCE OF 59.28 FEET; THENCE S,48'36'2f"W., A DISTANCE OF 49.60 FEET; THENCE S.77"25'23"W., A DISTANCE OF 43.14 FEET; THENCE S,72'05'57W., A DISTANCE Of 47.65 FEET; THENCE S.70'06'51"W,, A DISTANCE OF

BK 2231 PG 5764 (7 of 92)

Ordinance No. 07-952 Exhibit (cont'd) Page 7

no.72

60.71FEET; THENCE LEAVING SAID NORTHERLY SHORE, N.00' 12'30'W., A DISTANCE OF 35.93 FEET; THENCE N.01'53'00"E., A DISTANCE OF 389.85 FEET; THENCE N.00' 56'28"E,, A DISTANCE OF 393,21 FEET TO A POINT ON THE SOUTH LINE OF THE SOUTHWEST ¼ OF THE SOUTHEAST ¼ OF THE SOUTHEAST¼ OF SECTION 13, TOWNSHIP 34 SOUTH, RANGE 17 EAST; THENCE ALONG SAID SOUTH LINE S.89'22'20"E., A DISTANCE OF 670.55 FEET TO A POINT ON THE EAST LINE OF HAMMOCKS AT RIVIERA DUNES A5 RECORDED IN PLAT BOOK 44, PAGE 20, OF THE PUBLIC RECORDS OF MANATEE COUNTY, FLORIDA; THENCE N,00'01'00'E., ALONG SAID EAST LINE, A DISTANCE OF	FEET; THENCE S,89'23'56"E,, A DISTANCE OF 27.28 FEET; THENCE N.04"09'41"E., A DISTANCE OF 97.59 FEET; THENCE N.05'43'21"E., A DISTANCE OF 102.58 FEET; THENCE S.89"26'12"E., A DISTANCE Of 248.15 FEET; THENCE S.03'56'05"W., A DISTANCE OF
99.93 FEET; THENCE S.02'41'46"W., A DISTAtlCE OF 100.04 FEET; THENCE S.89'23'45"E., A DISTANCE OF 48.42 FEET; THENCE S.00'0729-W., A DISTANCE OF 112.01 FEET; THENCE 5.89' 35'52"E., A DISTANCE OF 342.13 FEET TO THE POINT OF BEGINNING.

CONTAINING 9,810,736 SQUARE FEET OR 225.22 ACRES, MORE OR LESS.
SUBJECT TO PERTINENT EASEMENTS, RIGHTS OF WAY AND RESTRICTIONS OF RECORD, IF ANY.

EXHIBITB

Revenues:
Developer Contribution Total Revenues

Proposed Budget FY 2018
 	$17,521
$17,521

Expenditures:

Sanctuary Cove Community Development District Proposed Annual Operations & Maintenance Budget Fiscal Year 2018

Engineering Fees	$1,000	
Trustee Fees	$0	
District Management Fees	$3,000	
District Counsel Fees	$6,000	
Audit Fees	$2,500	
Dissemination Agent	$0	
Travel & Per Diem	$0	
Telephone	$50	
Mailing Expenses	$100	
General Liability, D&O Insurance	$2,946	
Printing & Binding	$50	
Legal Adve1iising	$500	
Dues, Licenses & Fees	$175	
Bank Fees	$250	
Office Supplies	$50	
Website Maintenance	$900	
Miscellaneous charges	 	$0	
Total Expenditures	$17,521	

SANCTUARY COVE COMMUNITY DEVELOPMENT DISTRICT

FY 2017 Funding Requests - 4th Quarter #1, 2 and 3

Bjorn Svenson
Avanti Properties Group 923 N. Pennsylvania Ave. Winter Park, FL 32789 (407) 628-8488
(407) 644-3115
bjorn@svensonenterprises.com

Sanctuary Cove COD 6/21/2017
Fourth Quarter 2017 Funding Request

Vendor	Invoice Number	Invoice Date   Fiscal Year	Cate9.Q!Y.	Amount

	Q4 2017 - DM and Website Fee
for 3 months  (July, August, and		
1 Fishkind & Associates			FY 17	September 2017)	975.00	
2 Hopping Green & Sams	93928	5/30/2017	FY17	Legal Services - April 2017	429.96	
3 Ca.rr Riggs & Ingram	16278779	4/27/2017	FY 17	FY 2016 Audit	3,000.00	

TOTAL:	
4,404.96	

Secretary	Chairman

1--lopping Green & Sams
Attorneys and Counselors

119 S. Monroe Street, Ste. 300
P.O. Box 6526 Tallahassee, FL 32314
850.222.7500
================================= STATEMENT ==========================-------
May 30, 2017
Sanctuary Cove Community Development District	Bill Number	93928	
c/o Fishkind & Associates, Inc.	Billed through	04/30/2017	
12051 Corporate Boulevard		
Orlando, FL 32817		

General Counsel / Monthly Meeting
SANCDD	00001	MCE		

FOR PROFESSIONAL SERVICES RENDERED
04/01/17	VBD		Review correspondence from Florida Department of Transportation regarding airport zoning; research and prepare memorandum regarding same.

04/03/17	MCE	Review draft audit.

04/03/17	JLG	Prepare response to auditor letter. 04/10/17	MCE	Prepare budget resolution and notice. 04/11/17	APA	Prepare budget documents.
04/25/17	APA	Prepare fiscal year 2018 annual appropriation resolution.

Total fees for this matter

DISBURSEMENTS
Document Reproduction Postage

Total disbursements for this matter

0.10 hrs

0.80 hrs

0.70 hrs

0.10 hrs

0.20 hrs

hrs

$427.50

2.00
0.46

$2.46

MATTER SUMMARY

Papp, Annie M. - Paralegal	0.60 hrs	125	/hr	$75.00	
Gillis, Jennifer L. - Legal Assistant	0.70 hrs	100	/hr	$70.00	
Eckert, Michael C.	0.90 hrs	290	/hr	$261.00	
Desai, Vaishali B.	0.10 hrs	215	/hr	$21.50	
TOTAL FEES	$427.50	
TOTAL DISBURSEMENTS	$2.46	

TOTAL CHARGES FOR THIS MATTER	----------
$429.96	

BILLING SUMMARY

Sanctuary  Cove CDD - General C	Bill No. 93928	Page  2
--------------------------------------------------------------------=-----
Papp, Annie M. - Paralegal	0.60	hrs	125	/hr	$75,00	
Gillis, Jennifer L. - Legal Assistant	0.70	hrs	100	/hr	$70.00	
Eckert, Michael C.	0.90	hrs	290	/hr	$261.00	
Desai, Vaishali B.	0.10	hrs	215	/hr	$21.50	
TOTAL FEES	$427.50	
TOTAL DISBURSEMENTS

TOTAL CHARGES FOR THIS BILL	$2.46
-----------
$429.96	

Please include the bill number on vour check.

>pp	i-n g	G	r e	e 1, &	S a rn .:.:;
Att orn e ys a n d Co u n se l ors

May	30,	2017

opment Dsi   trict

ununity  Development  Dsi rt  ict

illing     statement   on   behal£   of   Sanctuary   Cove   Commun ity nde1 ·e  d   and      e xp    e  ns   es    incurred throug h  the month of April. 2017  . ssible.

concerns,p  leas  e  feel  free  tog  ive me  a  call.   Thank you.

Sincerely,

Michael C. Eckert

S. MonroeS  treet. Sui t<> 300	(3230I)	850.222.7500	8 50. 224 .8551 fa,;	v,v,v, hg   s lo \Y,c o  ,n

CRI

C A R R RIGGS & INGRAM
CPAs and Advisors
500 Grand Boulevard, Suite 210 Miramar Beach, FL 32550
850-837-3141
Federal ID 72-1396621

Sanctuary Cove Community Development, Inc. c/o Fishkind & Associates, Inc.
12051 Corporate Blvd.
Orlando, FL 32817

Invoice No. Date
Client No.

16278779 (include on check) 04/27/2017
20-05352.000

Professional services rendered as follows:

Final progress billing on audit of financial statements as of September 30, 2016.

Less amount previously billed

$	3,000.00

(2,000.00)

$	1.000.00

Cc1vWv
CS,L1. ll
O,Ot- 0-c: \., -3' mm --7,n

7 ';)\,

¼	(9-\y. -:l{)l1 'f{(  
0 - 30	31- 60	61 - 90	91 - 120	Over 120	Balance	
3,000.00	0,00	0,00	0,00	0.00	000.00	

We accept most major credit cards. Please complete the following information or contact our office to submit your payment over the phone.

Invoice Dale: 04/27/2017	Client No: 20-05352
Invoice Number:   16278779    Total Amount Due:  $	1,000.00	Sanctuary Cove Community Development, Inc.

Name as it appears on card	­

Billing Address:-----------------------------------------
Card # 	Exp Date: 	Security# 	_

Payment Amount: 	Signature:  	

Carr, Riggs & Ingram, LLC reserves the right to assess finance charges on past due balances up to the maximum amount allowed under Stale law.

Bjorn Svenson
Avanti Properties Group 923 N. Pennsylvania Ave. Winter Park, FL 32789 (407) 628-8488
(407) 644-3115
biorn@svensonentemrises.com

Sanctuary Cove COD 7/3/2017
Fourth Quarter 2017 Funding Request

Vendor	Invoice Number	Invoice Date   Fiscal Year	Cate9.QIY	Amount

1 Hopping Green & Sams	91301	12/22/2016	FY 17	Legal Services -Nov 2016	41.50	
Hopping Green & Sams	93268	4/24/2017	FY 17	Legal Services - March 2017	159.00	

TOTAL:

200.50

 	
Secretary	Chairman

Hopping Green & Sams
Attorneys and Counselors

119 S. Monroe Street, Ste. 300
P.O. Box 6526 Tallahassee, FL 32314
850.222.7500
================================= STATEMENT ================================-
April 24, 2017
Sanctuary Cove Community Development District	Bill Number	93268	
c/o Fishkind & Associates, Inc.	Billed through	03/31/2017	
12051 Corporate Boulevard		
Orlando, FL 32817		

General Counsel / Monthly Meeting SANCDD	00001	MCE		

FOR PROFESSIONAL SERVICES RENDERED
03/02/17	MCE	Respond to auditor letter.

0.10 hrs

03/16/17	KEM

03/22/ 17	KEM

03/23/17	APA

03/29/17	KEM

03/31/17	JLE

Confer with district manager regarding funding agreement. Prepare budget approval resolution and budget notice.
Prepare Fiscal Year 2018 Budget Approval Resolution and Budget Notice. Prepare budget approval resolution and notice.
Review draft auditor request letter and response; follow-up regarding same.

0.10 hrs

0.10 hrs

0.30 hrs

0.10 hrs

0.20 hrs

Total fees  for this matter	$159.00

MATTER SUMMARY

Papp, Annie M. - Paralegal	0.30 hrs	125	/hr	$37.50	
Earlywine, Jere L.	0.20 hrs	275	/hr	$55.00	
Ibarra, Katherine E. - Paralegal	0.30 hrs	125	/hr	$37.50	
Eckert, Michael C.	0.10 hrs	290	/hr	$29.00	
TOTAL FEES				$159.00
----------	
TOTAL CHARGES FOR THIS MATTER				$159,00	

BILLING SUMMARY

Papp, Annie M. - Paralegal	0.30 hrs	125	/hr	$37.50	
Earlywine, Jere L.	0.20 hrs	275	/hr	$55.00	
Ibarra, Katherine E. - Paralegal	0.30 hrs	125	/hr	$37.50	
Eckert, Michael C.	0.10 hrs	290	/hr	$29.00	

Ctunq
,,.t.-R r1
{),-0/4 • DS \ - 6 Oo,() ' -.l'I ,,D K
e9 L 1,on ?<l

TOTAL FEES

$159.00

Sanctuary Cove CDD - General C	Bill No. 9326B	Page 2
===============-------------------=-====----------------------------------------==-----
TOTAL CHARGES FOR THIS BILL	$159.00

Please include the bill number on vour check.

p	i t7g	G re e n	&  S ;-1 m	s
l\tlorneys and Counselors

April  24.  2017

lopment District

mmunity Development Disu·ict

billing statement on	behalf	o:f Sanctuary Cove Corr.u:nunity rendered and expenses incurred through the month of March.
on as possible.

or  concerns,  please feelrf  ee to  give me  a call.   Thank you.

Since1·ely,

Michael C. Eckert

S.Monroe Street. Sui te 300  (3 230 1)	8 50.222.750 0	8 50.224.8551 fax	v1wwhg.slnw.con1

l-lopping Green & Sams
Attorneys and Counselors

119 S. Monroe Street, Ste. 300
P.O. Box 6526 Tallahassee, FL 32314
850.222.7500
================================= STATEMENT =========================--------
December  22, 2016
Sanctuary Cove Community Development District	Bill Number	91301	
c/o Fishkind & Associates, Inc.
12051 Corporate Boulevard	Billed through	11/30/2016	
Orlando, FL 32817		

General Counsel / Monthly Meeting		
SANCDD	00001	MCE		

FOR PROFESSIONAL SERVICES RENDERED
11/01/16	MCE	Attend landowner election by telephone.
\
11/30/16	KEM	Research results of landowner election.

Total fees for  this matter

0.10 hrs

0.10 hrs

$41.50

MATTER SUMMARY

Ibarra, Katherine E. - Paralegal Eckert, Michael C.

TOTAL FEES

0.10 hrs
0.10 hrs

125  /hr
290 /hr

$1i50
$29.00

$41.50

TOTAL CHARGES FOR THIS MATTER	$41.50

BILLING SUMMARY

Ibarra, Katherine E. - Paralegal	0.10	hrs	125	/hr	$12.50	
Eckert, Michael C.	0.10	hrs	290	/hr	$29.00	

TOTAL FEES

TOTAL CHARGES FOR THIS BILL

$41.50
·---------
$41.50

Please include the bill number on vour check.

1 -n

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i,
llcol ~o£ I- J«uUi ,?.J\ -oP

j{C	1J!) f'\M	IJJ l Y\fod• -:y(L.

opping Gree n Ed S a ms
l\ t t orn e y s i!IIU Ct,) UII S l! I OI S

D  e c e m b er	22, 2 0 16

elopment District

ommuniyt

Development Dsi

trict

b   i l li  ng	s	t a t e m  e n t	on	b  eh   a l·f	of	S  a n c t u ar y	Cove   Co1n n1.u n  i ty
e nd  er     e d and	e xp	e ns  es	in c urr	ed	th   ro u gh	the m o n th of N o v e mb er . on as	possible.

or	concer  ns  ,p  lease  fe.e l  free tog  ive  me a call.   Th  a nl<  you.

S  incer  ely.

Michael C. Eckert

S.  rv.omoe S lle e l, Suite 300  (3 23 0 1 )	8 50 , 2 22 . 75 0 0	850.22,18.  5 5 1 fax	wv,w.hg law.c o m

Bjorn Svenson
Avanti Properties Group 923 N. Pennsylvania Ave. Winter Park, FL 32789 (407) 628-8488
(407) 644-3115
bjorn@svensonenterprises.com

Sanctuary Cove CDD
7/27/2017
   ;:c: :,.; 5::L:;J;, ;ci :,. ½f/;.;; y;C;j/Addlfl nclliflOllrtftqqa'it,er,,2() ttEunif{og Raq1.1est;,;_;,,,'/,."tc;C cc0 , ;8:s<,',":;·; ;;;=;£/,,,;

Vendor	lnvoice Number	Invoice Date   Fiscal Year	Cate9.Q!Y	Amm1nt
Fishkind & Associates	20981	7/17/2017	FY17	UPS & Postage	22.60
Website Fees for May and June
2017	150.00
Hopping Green & Sams	94509	6/27/2017	FY17	Legal Services - May 2017	286.50
Bradenton Herald	T132274767	6/30/2017	FY 17	Legal Ad - Notice of Meetings	76.05
TOTAL:	535.15

Secretary	Chairman

Fishkind & Associates, Inc.
12051 Corporate Blvd.
Orlando, FL 32817

Sanctuary Cove COD
c/o Fishkind & Associates 12051 Corporate Blvd
Orlando, FL 32817

FISHKIND
&ASSOCI.AJES

Invoice

Invoice#: j 20981

7/17/2017

File: SanctuaryCoveDM

Services:	Amount	
District Management Fee: July - Sept 2017 4th Quarter	750.00	
Website Fee Jul-Sept 2017	225.00	
Website May 2017	75.00 V	
Website June 2017	75.00v	
UPS	11.16 "	
Postage	11.44 V	

Please include the invoice number on your remittance and submit to:
Fishkind & Associates, Inc.
12051 Corporate Blvd.
Orlando, FL 32817
Ph: 407-382-3256
Fax: 407-382-3254
www.fishkind.com

Balance Due	$1,147.60

	Receiver
AUDITOR GENERAL CLAUDE PEPPER BUILDING, ROOM 401
111 WEST MADISON STREET TALLAHASSEE
FL32399
LOCAL GOVERNMENT AUD	Freight	13.21·    ·	ro 57
Fuel Surcharge	0.74	0.59	
		Total	13.95	11.16	

'•,-- ••••c •.,." •,•,,-• • "/•••• w•., ,
UPS No: 1Z1Y9R280393229373	siiipper
Pickup Date	05/02/2017	FISHKIND & ASSOCIATES
Service Level	Commercial Ground    12051 CORPORATE BLVD
Weight	1 lb	ORLANDO
Zone	003	FL32817
Payer	Shipper

ELISABETH MALHOULTRA
Bill Reference: Sanctuarv Cove co_
'd  Sanctuary Cove CD	1 count	Sub Total	13.95	11.16

pitneybowe.s-.

Account Summary Report
Date Range: May 1, 2017 to May 31, 2017 Meter Group: All Meters
Meter1W00 -1376538 OLD al ORLANDO, FL
  Meter 4W00. 0347354 al ORLANDO, FL	

-,

Meter Details
'·ORlANDO, Fl

--= Lo tlat]

Meter Name>_

e a -N m

j4WOO • 034735'!	0347354
,         ,     . ,    ;1WOO·l376538 OLD ;1376538

[ - f\ c-riimtNu£11b.it
,24978470
i24978470

:oRLANOO;FL

Account summary
!>	::_:- q:9J'!f--
/sanctuary Cove

l   -Sub A_CCClUn:     I- :-piec   <! - '  Jotiirchal!led   l
z,	$0,920

Grand Total	$0.92_0

 Naron
3 5 '1
S 3 0 OL.O

ccount"	P l<1cc..s-	T o tn t c t, o rg ed

2

n,  n d  To bt lj

$  >0.5021
$10	.5 . 2 0 1

l--lopping  Green & Sams
Attorneys and Counselors

119 S. Monroe Street, Ste. 300
P.O. Box 6526 Tallahassee, FL 32314
850.222.7500
================================= STATEMENT ==========================	=
June 27, 2017
Sanctuary Cove Community Development District	Bill Number	94509	
c/o Fishkind & Associates, Inc. 12051 Corporate Boulevard
Orlando, FL 32817	Billed through	05/31/2017	

General Counsel / Monthly Meeting			
SANCDD	00001	MCE			

FOR PROFESSIONAL SERVICES RENDERED
05/01/17	MCE	Prepare annual appropriation resolution.

0.20 hrs

05/04/17	APA

05/09/17	APA

05/10/17	APA

05/25/17	MCE

05/29/17	MCE

Update district status sheet.

Prepare fiscal year 2018 funding agreement.

Finalize fiscal year 2018 assessment resolution and update district chart. Review draft minutes and provide comments.
Prepare budget and assessment documents.

0.10 hrs

0.60 hrs

0.20 hrs

0.30 hrs

0.10 hrs

Total fees for this matter	$286.50

MATIER SUMMARY

Papp, Annie M. - Paralegal		0.90 hrs	125	/hr	$112.50	
Eckert, Michael C.		0.60 hrs	290	/hr	$174.00	
	TOTAL FEES				$286.50
----------	
TOTAL CHARGES FOR THIS MATIER	$286.50

BILLING SUMMARY

Papp, Annie M. - Paralegal	0.90	hrs	125	/hr	$112.50	
Eckert, Michael C.	0.60	hrs	290	/hr	$174.00	

TOTAL FEES

TOTAL CHARGES FOR THIS BILL

$286.50
-----------
$286.50

Please include the bill number on vour check.

p	f) 'i r1g	G r e e r 1 & < -.f i r r l s
/\ tt or n ey s and Coun selor s

h.   u -ie  27.	2017

lopment Disrt ict

mmunity Development District

b i ll i ng	s ta te 1n e n t	on	b  eh a lf	of	S a n c tu a r y	Cove Comniunit. endered and  expens  es i.ncun·ed  th.rou gh	th e  month of May. 2017. oss  ible.

1·  concerns,	please  feel  free to  give me a call.   Thank you.

S incerel,y
:	/

M  i ch     a e l  C.	E ck. e 1: t

S.  MonroeS troo, l   Suile 300  (3230  l)	850.222.7500	8 5,0 22'1.8!35 1  la x	, •1vN 1.h c s ta w.co  1'1'1

BRADENTON
HERALD
Manatee Cou11ty's Newspaper since 1922
P.O. Box 921
BRADENTON, FL 34206-0921
ACCOUNT: 001667200

ADVERTISING INVOICE STATEMENT
PLEASE RETURN TOP PORTION WITH YOUR PAYMENT

M
PAGE:	1

PERIOD:  06/01/17	06/30/17	REP:	17

SANCTUARY COVE% FISHKIND ASSO ATTN: ACCOUNTS PAYABLE
12051 CORPORATE BLVD
ORLANDO FL	32817

TERMS:
NET 20 DAYS

CURRENT BALANCE:
PLEASE MAKE CHECK PAYABLE TO:
BRADENTON HERALD

$76.05
AMOUNT ENCLOSED

001667200 0000000000000000	000076057

 9{f{nA±1{'f fr:4rif oJ 1·. ffili s. !?,UN} ti f1if\,'ajl{IJ'.Jl@.i{s;r9£i::i ti

'.\.REFERENCE 'NiiM:BkR  : '  Em:n fiATEc0           cDESCRIPTIONioit:Tll.G  :ti:t!

BALANCE FORWARD	.00

Tl32274767	06/06/17	NOTICE OF MEETINGS	SANC	65.0L	76.05		
06/06/17	2	l.OX	65.00L				76.05	
	PREVIOUS	AMOUNT OWED:	.00		
	NEW CHARGES	THIS PERIOD:	76.05		
	NEW TAXES	THIS PERIOD:	.00		
PAYMENT THIS PERIOD:	.00
DEBIT ADJUSTMENTS THIS PERIOD:	.00
CREDIT ADJUSTMENTS THIS PERIOD:	.00

BILLING INQUIRIES: OTHER INQUIRIES:

941-745-7069
941-748-0411

TOTAL AMOUNT IS DUE BY THE 20TH OF THE MONTH

$0.00

$0.00

$0.00

Total Due:	$76.05

001667200
SANCTUARY COVE% FIS

BRADENTON
HERALD
Alm1<1tc Coumy's Newspaper sfucc 1922

llll 3rdAvenue W, Ste 100

t-g	f

P.O. Box921 Bradenton, FL. 34206-0921
941-748-0411

SANCTUARY COVE COMMUNITY DEVELOPMENT DISTRICT

Review and Acceptance of Fiscal Year 2016 Audit

tuary Cove Community evelopment District
INANCIAL STATEMENTS

September 30, 2016

  	

Sanctuary   Cove Community Development  District
Table of Contents September 30., 2016

1

sis (requri  ed supplement al  inf or  mat ion) 	3
ent s
7
8
nd s	g
ures and Changes in Fu nd B alances -
10
11
ot her t han MD&A)
ule - General Fund	16
cial Reporting and on Compliance and Other al St at em en·t s Performed in Accordance With
17
19
h Section 218.415 Florida St at ut es	21

c a ,,-r Rigg s & Ingra m, LLC
Ce rt ifi ed P ub li c Accountants
500 Grand Boulevard
Suite 210
Miramar Beach, Flori da 32550

(850) 837-3141
(850) 654- 4619 (f ax)
CRlcpa.com

ment Dist ri ct

financial st at ement s of the g  o v e r n m e n t a l a c t iv i t i e s and		e a c h om m unity	Development	District	(hereinaft er	referred	to	as d ed  Sept emb er 30,   2016,  and  ther  elat ed  notes  t o t he fi nancial r i s e t h e D i s t r i c t' s b a s i c fi n a n ci a l s t a t e m e n t s as li s t e d in t h e t ab l e

Financial Statements

p  rep  aration  and  fair  pr  esentat ion of  these financial  statements ci p l e s g e n e r a ll y accepted in t he Unit ed States of America; t his
i o ,n	a nd	m a i n t e n a n c e	of	in t e r n a l	c o n tr o l	r e l e v a n t	t o	t h e
financial  statements  that  ar   e  f r e e   fr  o m	m  a t er   ia l  m  i s s t a t e m  e n,t

1n 1o n s	o n	t h e s e	fi n a n c i a l  s t a t e m e n t s  b a s e d	on	our	a ud i t . Vv e with  auditing standar d  s g  e n e r a ll y   accepted  in  t he  Unit ed States l i c ab l e		t o		f i n a n c i a l  a u d i t s   c o n t a i n ed	in		Government: Audit"lng r G e n e r a l o f t h e U n i t e d S t a t e s . Th o s e s t a nd a rd s r e q u ir e t h a t we n  reasonable assLr  a n c e   a b o u t   w  h e th  er		th  e  f i n a n ci a l  st a t e m  e n t s
.

cedures	to	ob tain		audit	evid  ence   ab out		t he	amounts	and t s .  T h e  procedures select ed		depend  on   t he auditors'  judgment, s of  m a t er  i a l m is st a t e m e n t of	t h e f i n a n c i a l statements, whether h  o s e	risk  assessment s,  the   audit or   considers  int er  n a l   c o n tr  o l and fair present at ion of the fi nancial st atement s in order to appropr iat e in  the	cir   c u m st a n c e s ,	b u t	not	for	the	purpose   of
iveness  of  th  e   e n t i t y'  s  i n t e r n a l  c o n t r o l.   A c c o rd  i ng  yl ,	we	express
des evaluating  th e  approp riateness  of  account ing  p  olicies used a n t  a c c o u n t i ng  e st i m a t e s  rn a d e  by   m a n ag e m e n t,  as  w e ll  as of t he fi nancial statements.

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

Opinions

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the District as of September 30, 2016, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Other Matters

Required Supplementary Information

Accounting principles generally accepted in the United States of America require that the management's discussion and analysis and budgetary comparison  information, as listed in the table of contents, be presented to supplement the basic financial statements. Such information,  although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary  information  in  accordance  with  auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the  basic  financial  statements,  and other knowledge we obtained during our audit of the basic financial statements. We  do not  express an opinion or provide any assurance on the information because the limited procedures  do not provide us with sufficient evidence to express an opinion or provide any assurance.

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated April 10, 2017, on our consideration of the District's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District's internal control over financial reporting and compliance.
c	I?	/Jl..i..(:_
CARR, RIGGS & INGRAM, LLC

Miramar Beach, Florida April 10, 2017

- 2 -

nt's Discussion And Analysis

Sanctuary Cove Community Development District M anagement' s Discussion and Analysis
S a n  c t u a r y	Cove  Con11Ti u  n i t y	D  e v e l op   m  e n t	D i s t r i c t' s	f i n a n ci a l of	t h e	D  i s tr   i c t' s   fi  n a n c i a l   a c t i v i t i e s   f o r   t h e		fi  s c a l  y  e ar	e  nd   e d
t	in	c o n j u n c t i o n   vv i t h   t h e	D i st r i c t'  s  fi n a n ci a l  st a t e m e n t,s	vv h i c h

F I N A N C I A L HIGHLIGHTS

a ss e t s   o f   t h e   D i st r i c t e x c e e d ed	i t s  l i a b i l i t i e s by	ap p r o x i m a t e l y

USING THE ANNUAL REPORT

ies  of  f inancial  stat ement  s .  T h e   St  a t e m  e n  t   of     N  e t   P o s i t i o  n   a n d
7 - 8  pr  o v id e  i n f o r m a t i o n  ab o u t  t h e  a c t i v i t i e s  of   th  e  D i s tr i c t  as  a  e w   o f  th e  D is t r i ct' s  fi n a n c e s.  Fu n d  f i n a n ci a l  s t a t e m e n t s  st a r t  o n
,  t h e s e  s t a t e m e n t s t e ll  h o w  t h e s e  s e r v i c e s  w e r e  f in a n ce d  in   t h e f o r  f u t ur  e  sp   e n d i ng   .  Fu nd    fi n a n c i a l  s t a t e m e n t s  a ls o   r ep  o r t  t h e h  a n  t h e g  o v er   n m e n t - vv id  e  s t a t e m e n t s  by p  r o v i d i ng    i n f or   m a t io n f u n d s .

le b egins onp  ag  e 4  .  One     of   t h e  m  o s t   i mp   o rt  a n t q   u e s t i o n s  a s k e d h e D i s t r i c t  as  a  vv h o l e b e t t er  o ff   o r  vvo r s e  o ff  as  a  r e s u l t  of t h e N e t  P o si t i o n  a nd  t h e  St at e m e n t of  A ct iv i t i e s  r ep o r t  i n f or  m a t i o n
o u t   i t s  a c t iv i t i e s  i n   a  \Nay th at  hepl   s a nsw er  th is q uest ion. Th ese
bilit ies  using  t he  accrual  basis of  acco unt i ng  ,  w hich  is  sim il ar  t o a t e - s e c t o r c o rn p a n i e s . A l l o f t h e c ur r e n t y e a r' s r e v e n u e s a n d ardless of wh en cash is received or paid.

st r i c t' s n e t p o s i t i o n a n d r e la t ed	c h a ng  e s d u r i ng	t h e c u r r e n ty e a r . o si t i o n  -	t h e d  i ff e r e n c e   b e t w e e n   assets and    liab ili ti es -  as one
ancial	healt,h	or	fi nancial	posit ion.   Over	t im e,   increases   or
on is one indi cat or  of  \Nhet her  it s financial h e a l th	i s i mp r o v i n g or ider	o th  er	n o n -fi n a n c i a l  f a ct  o r s ;  h o w  e v er  ,  su c h   as   c h a n g e s  i n   t h e c o nd i t i o n  of	th e  D i s tr ic t ' s  i n f r a st r u c t u r e ,  t o	a s s e s s t h e o v er a ll

ica n t Fu n ds

f u nd   s  b eg  i n s  o n p   ag  e   S.  T h e   f u nd	fi n a n c i a l s t a t e 1Ti e n t s b eg i n o n
a t i o  n	about  t he  most  sgi   nificant  ·funds  -	not   th  e   D i s t r i c t   as	a

- 3	-

S a n c t u ary		C o v e Community Development  District  M anagement"s Discussion a nd Analysis

be  est ablished  by  State  law  sind  by  bond  covenant   s .   A l l   of	the nd -ty  pes.

the Dist rict' sb asic services arer epor ted ing overnmental funds, fl ov.,s int o  and  out   of  t hose  funds  and t he b alances lef-t  aty  ear pending. The government al fund st at ement sp r o v i d e a d e t a i l e d rict' s general governm ent op er at ions and	the basic services it d  inf ormation  helps you  determine  v.t ether  ther  e  ar  e  more  or h at	can be spent	i n	t h e	near future to finance the District' s

THEDISTRICT AS A	HOLE

densed Statement	of	Net	P o s it  i o n   and	is   compared  to  the   prior

2016	2015	Chan e	

$	8,1.39	
$	4,275	
$	3,864	
8,139	$	4,275	$	3,864	

$	2,791.	
$	839	
$	1,952	
2,791	839	1,952	

2,603	

2,625	

(22}	

2,745	
811	
1 ,:9_ 34	

8 , 1.3 9	
4,275	
$	3,864	

he  accomp any   i ng   S  t a t e m  e n t   of	
Net	P o s i t i o n .		

ptember	30,	2016,	tot al	assets	and	liab ilit ies	increased	by

r  espectiveyl

. The increases in both

assets and	liabilit ies are

c o n t r ib u t i o n s and	vendor payments.

- 4 -

 	
Sanctuary  Cove C'o  m	m	u  n  i ty	Development  District Management's   Discussion   and Analysis
the  Statement   of   Act ivities  for   the  cur r   e n t	a n d	p r e v i o u s   fi  s c a l

2016	2015	Change	

$	16,756 	
$	11,286 	
$	5,470	
16,  756	11,   2 86	5,470	

14,822	
11,533	
3,289	
14,822	11,533	3,  289	
1,934	(247  )	2,181	

 	811			1,058		{247)
$	2,745	$	811	$	1,934

he	a c c o m  p a n y i ng      S t a t e m  e n t  of	A c t i v i t i e s .

in    t he    cur   r e n t    year   by   app roximat ely   $5,500   and   $3,300, ue to i n c r e a s e d o p e r a t i o n a l a c t iv i t i e s of t h e  D is t r i c t  from th e as a $1,934 increase in net posit ion for fi scal year 2016.

THE DISTRICT'S FUNDS

its governmental funds (as present ed in the b alance sheet on
balance  of  app  roximat eyl	$2,700,  which  is an incr   e a s e   from  last
gnificant transacti ons are discussed b elo'N.

pt ember	30,	2016,   t he   Dist rict   collect ed   assessment s  tot aling
nd  oper  a t i n g  e xp  e n d it u r e s  t o t a l i ng   ap p   r o x i m  a t e yl	$14,800.

e for the year ended S ep t  e m b  e r  30,	2016 tot aled appr o x i m a t e ly

NTAL FUNDS BUDGETARY HIGHLIGHTS

h ed     by     the    g   o v e r n i ng      board  for    the   Dist rict  p  ur   su a n ·t   to     the h e b ud g e t to a c t u a l c o mp a r is o n for the g e n e r a l f u nd , i n c l ud i ng d  budget,  is sh ovvn atp  age 16.

- s -

Sanctuary Cove Community Development District Management's Discussion and Analysis
le  variance   in   expenditures  as  comp  ar   ed	to	t h e   budget   in   the nues  as compared  to budget  \NaS   not  subst antial.  The variance  in  ue	to	an	e xp e c t a t i o n	of	e ng i n e e r i ng	and		l eg a l	a d v e r t i si ng
he	year.

FUTURE FINANCIAL FACTORS

p m e n t District is an independent  special  district  t hat  operates 0, Florida Statutes. The District operates under an elect ed Board olicy and sets assessment rat es. Budgeted assessments for f iscal de for the operations of the Dist rict.

THE DISTRICT'S .FIN AN CIAL MANAGEMENT

provide ag eneral overvie\N of the District's finances. If you have d  addi•t i o  n  a l   fi   n  a n  c i a  l   information,  contact  the  Sanctuary   Cove s   management    comp  any   at    12051  Corporat e  B  lv d ,    O r l a nd   o ,

- 6 -

c Financial Statements

Sanct uary	Cove  Com m unity   Develop  m ent  Distr  ict
St at em ent of N et P osit io n

2 0 1 6
Gov er  nm ent
A  c t i v i t i e s	a l	

$	
1,920	
	2,791	
	3,428	
	8,139	

2,791	
	2,791	

2,603	

s	
2,603	

2,745	

2 _7,_ 4 5
 	.	

es ore an integral part of these f inancial st:at:ement:s.
- 7 -

Sanctuary Cove Community Development District
Statement of Activities

 	2016	
Net (Expense) Revenue and Changes in
Program Revenues	Net Position

Charges f o,·

Operating	Capital
Grants and	Grant s and	Governmental

Expenses

Services

Cont ributions Cont r ibut ions	Activities

(1 4,   8    2 2 }	$	1 6 £7	56	$	$	$	1, 9 3 4 

{14,822}	$	1  6 £7  5 6	$	$	1 J 9 34 

a ng	e  in	n e t position

et  position  -b eginning   of th eyear

1,934

811

et position - end of theyear	$	2.£745

es  are  an  in'tegral  part of  t:hesefinancial staternents.
- 8 -

Sanctuary Cove Community Development District Balance Sheet -	Governmental Funds

 	2016	

General Fund

$	1,  9 20
2,7 9 1
3,428

$	8 , 139

rces and Fund Balance

$	2,791

 	2, 791

2, 603

s	2,603

3,428
(683)

2,745

ources and f undb a_l a  n  c  e	$	8,	13    9 

es are  an  integral  part: of  th ese financial st:at:ernent:s.
- 9 -

Sanctuary Cove Community Development District nues, Exp end it ures and Changes in Fund B alances -
Governmental Funds

2016

General Fund

$	16 ,756

16 , 756

14,	822	
14,	822	
1,	9 34	

 	8 1 1	

$	2 ,7 4 5 

e s are	o n i n t eg r a l part of these f inancial staternent-s.
- 10 -

Sanct uary	Cove  Co mmunity:	Develop m ent  Dist rict
Not es to F i n a n c i a l S t a t e m e n t s

N

velop  rnent   Dist rict   (t he  " Dist rict" )  \Nas  est ab  lish ed   on   Oct ob  er o m m unit y Devel op  m en t Dist rict Act of 1 9 8 0,	o t h e r w i se k n o \N n by	Ci ty	of	P a lm e t t o	Or d i n a n c e	N o . 0 7 -9 5 2 . The	Act	p r o v id e s,
m a n ag e   b a sic s e r v i c e s  for	c o m m u n ti   y	d e v e l op  m e n t,	po\Ner   to
and  to	levy   and   assess   non-ad   valorem   assessments   for   t he a s t r u c t u r e .

t  h e	p ur p o s e s

of	fi n a n ci n g	a nd	m  a n ag i ng	the	a cq u i s i t i o ,n

p e r a t i o n	o f	a

p  o rt  i o n	o f	t h e	i n fr a s t r u ct u r e	n e c e ss a ry	f or

D i s t r i c t .

o f Supervisors (''B o a r d " ), w h i c h i s c o mp r i s e d of fi' v e m e m b e r s . t    l a rg  e   b a s is  by    th  e   owners  of  t he  property  \Nit hin  th e  Dist rict . th the D e v e l op er o f the D i s t r i c t, A v a n t i P r op e rt i e s Group. The exercise  all p  ower  s  granted  to  the  District p ur  suant  t o  Chapter

for:
e n t s .

es and pr   op  e r t i e s .
e n e r a t e d  by	th e D i s tr ic t . of l<ey p er s o n n e l.

v e r n m  e n, t	for	fi n a n c i a l r   ep  o r t i ng	purposes,   manag   e m  e n t   h  a s
unit s. Th ed ecision to include or exclude ap ot ent ial component
ade   by	ap  pyl   i ng	t h e	cr  i t e r i a	set	f o r th	by	G e n e ra  lly	Accepted
i n ed by th e Governm ent al Acco unting St a n d a r d s Board (GASB) Based  on  t he  f oregoing  crit er ia,  no p  ot ent ial  comp  onent  unit s

T ACCOUNTING P OLICI ES

ct c o n f or m  to	GAAP as app licab le to g o v er n m e n t s i n a c c o r d a n c e
he  fo ll ow ing  is  a sum m a ry  of  the   more sgi   n i f ic a n t p   o li c i e s :

al St:at ernents

de b oth g overnment-vvide and f und f inancial statements.

-1 1 -

Sanctuary Cove Com munity  Development District
Notes to Financial Statements

T ACCOUNTING POLICIES (Cont inued )

ements (i.e., t heS t a t e m e n t o f N e t  Position and t heS t a t e m e n t  of a ll	the	n o n - fi d u c i a ry		a c t i v i t i e s	of	the	primary g overnment . m  a ll y   are		s up  p o r t ed	by	assessments,  are   reported   separat eyl
rely to  a sgi   n i fi c a n t   extent  on  fees  and  charges for   support. The
s ep   ar a t e l y  in g  o v e r n m e n t - w i d e  fi n a n c i a l  statemehts; however,
did not  have  any sgi   n i f i c a n t  b  u s i n e s s - ty  p e   a c t iv i t i e s.  T h er  e f o r e,
o r t e d .  A ss e s sm e n t s  a n d	o t h e r  i t e m s  not	properly includ ed as
cust omers or applicant s who purch ase, us,e	or d irectly b enefi t
d as generalr e v e n u e s .

rovided for g o v e r n m e n t a l f u n d s . M a j or	individualg o v e r n m e n t a l mns in the fund financial stat ernents.

nting and Basis of Presentation

st at ements are reported using the economic resources l b asis of  account ing   .   Revenues  are   recorded  when  earned  and it     is incurr ed, regardless of  t he t iming    o f  the     r e l a t e d  c a s h  fl  o w  s . enues  in   t he  year  for   which  they  are  levied.  Grants  and   ot her
s r   e v e n u e  as   s o o n   as   a ll   e lgi	i b i l i t y   requirements  imposed  by  the

ement s   are	reported	using	t h e	c u r r e n t	f i n a n ci a l	r e s o ur  c e s ed  accrual  basis of  accounting.  Revenues  are  recog   n i z e d   as   s o o n ailable.  Revenues are consid ered  to  be available vvMen  they  ar   e   d	or	s o o n	enough   thereafter   to   pay   liabilities  of   t he current
t c o n s id e r s r e v e n u e s to be  a v a il a b l e i f they are collected within ca Ip  eriod.  Expendi t uresg  en er   a ll y   are    recorded  when .a liability unting.   However,   debt   service   expend it ures  are  recorded only

s t   a s s o c i at e d   with  t he cur   r e n t   fi sc a l  period  are all  considered  to been  recog   n i z e d	as	revenues  of   t he  current   fiscal  period.  All
d to be measurable and available only when cash isr e c e i v e d by

ajorg overnmental funds:

n d	i s   the	primary  operat ing	f u nd	o f	the	D i st r i c t .   It	i s   u s ed	to s e x c ep t t h o s e required to be accounted for in oth er f unds.

016,  the District  does not rep ort  anyp rop1· i e t a r y  f u n d s .

-  12	-

Sanctuary  Cove Comm unity	Development  District
Notes to Financial Statements

T ACCOUNTING POLICIES (Con t inu ed )

rfund activity h a s  b e e n  e l i m i n a t ed	from the g o v e r n ,n e n t - w id e

ted  resources  are  available  for   use_,  i t	i s   the	D  i s  t r i c  t  ' s	policy  to unr   e st r i ct ed	r e s o u r c e s   as   they  are  needed.  When  committed, s	are	available	for	use   in	the  g  over  n m  e n t a l	fund		fi nancial p o li c y to	use		c o n, m it t ed	r e s o u r ce s first, followed by assigned
es as needed.

th "Qualified P ub l i c Depositories" as defined in Chapt er 280_, ic  Depositories   must  place  with   the  Treasurer     of     the     State   of ith   collater   a l    r e q u i r e m  e n t s    d e t e r m  i n e d     by     the      State's   Chief efault by a QuaUfied P u b l i c D ep o s i t o ry, the State Treasurer will sses in excess of insurance and coll ateral wrll be paid through
ublic Deposit ories.

d e p o si t s  are	f u lly	insured or  collat eralized  at the  hgi   h e s t   level of
ement   Number      40,       Deposits   and    lnvestn,ent   Disclosures   (An rnber 3 }.

t    in    fi  n a n c i a l   i n s t r u m  e n t s   as    e st ab  l is h e d    by    Section   218 .4 15  , vest ments include among others direct ob li ations o-fth e U .S . Surp  lus   Trust   Funds   as   created    by  S  e c t i o n     2-18.405,    Flor   i d a
rket fund  with  the hgi   h e s t   cr  e d i t q   u a l i ty	r a t i ng   -from  a  nat ionally
rest-bearing	time  deposits   or   savings   accounts   in   aut horized

e nt s in conformity with accounting principlesg enerally accept ed m a k e e st i m at e s and	a s s u m p t i o n s that affect cert ain reported
ly, act ualr e su l t s couldd iff er from those est imat es.

urces

t  of  net   position  will  somet imes include  a  separate  sect ion  for is separate f inancial statement elen,ent, deferred outflo1Ns of n   of	n e t	p o s i t i o n	that  app   l i e s  to	a   future  period(s)  and  so  wi ll r e s o ur c e s (expense/expenditure) unt il th en. The Dist rict does
Sept ember	30,	2016.

- 13 -

 	
Sanctuary	Cove Community	Development  Dist r   i c t
N  o t  e s  to	F i n a n c i a l S t a t e m e n t s

T A C C O U N T I N G P O LI C IE S ( C o n t i n u ed )

ent  of  fi nancialp  osit ion \Nill sometimes  report a separate  section This  separ   a t e   f i n a n ci a l   st a t e m  e n t   element,  deferred   inflo\Ns  of of  net  position  that  applies  to  a future  period{s)  and so \Nill  not urces (revenue) until that time. The Dist rict only has one it em,
r  report ing	in   t h is  category.

e   financial statements  represent s the  diff er   e n c e   bet\Neen  assets e s  and    li ab  i l i t i e s   and    d e f e rr  ed    inflo\Ns  of  reso urces  and  is p i t a l assets,r e st r i c t e d or u nr e s tr i c t ed . Net in v e st m e n t  in c ap i t a l

infra str   u ct u r e	and	property, p lant   and equpi

men,t

net   of   any

on  represents  the   assets r  e s t r i c t ed	b y	c r ed i t o r s  or	l a \Ns	and

sifi ed  as f und b a la nee.  Fund	balance ls  further  classified  as  d, assigned, or unassigned. Nonspendable  fund b alance  cannot est rict ed	fund   balance    has   limitat ions  imposed   by	creditors, ab l i ng	le g is l a t i o n	or	c o n s t i t u t i o n a l p r o v i si o n s . Committed fund he Distr  i c t   board t hr   o u g h  approval  of  resolutions. Assigned  fund

d esgi

n e e   of	the	D i s tr  i c t   board.  Unassgi

n e d f u n d b a l a n c e in the

n  excess  of   \Nhat  can  be p  ro per   l y   classified  in  one  of  the   above d fund balance in otherg overnment al fundsr ep r e s e n t s excess
unts rest  r i c t ed,	c o m  m  i t t e d ,  or	a s sgi	n e d  to	those  purposes.

a b udg   e t a r y   system  and  an  approved  annual  budget.  Annual a fs c o n s is t e n t \Nith GAAP for t he General Fund. Any revision t o y the Di st rict Board. The budgets are compared to act ual udget  appropriat ions and   est   i m  a t e d r   e v e n u e s   have been revised ented  in  t he  fi nancial  statements  represent  final  aut hori<'.a  t l o  n

es  in   est ablishing	the	b udg   e t a r y   data  reflected  in  the   financial

g er	s ub  m  i t s   to	the	D i st r i c t   Board  a  proposed  operat ing	b ud g   et ng  the  f ollo\Ning		October 1.
d  to	o b t a i n c o m m e n t s.
et is legally adopted by the Dist rict Board. approved by  the Distr  i c t  Board.

-  J.4   -

Sanct uary	Cove  Community  Development  Distr ict
Not:es to  Financial St at ement s

T ACCOUNTING POLICIES (Continued)

a s i s c o n s i s t e n t w i t h a c c o u n t i n g p r i n ci p le s g e n e r a l ly accepted in
.

ct' s   activit yg  oing	f o n ,v a r d	i s		d e p e nd  e n t	up  o n	t h e	c o n t i n u ed t i  P r o p e r t i e s   G r o u p,	w h  i c h   c u rr  e n t ly		o w  n s  t h e   m  a j o r i ty	of	t h e t h e	D i s t r i c t:  b o L•nd  ar  i e s . T h e	l o s s  of	s up p o r t c o u ld p ot e n t i a lly
h e		D i s tr  i c t ' s  o p er   a t i o n s .  D u r i ng	t h e c u r  e n t  y e ar  ,  t h e  D e v e l o p e r to	t h e D i s t r i c t .

sk   s  o f  loss related to t ort s;  th  e f t  o, f  d  a m ag e  t o ,  a n d  d e s t r u c t i o n
nat ural d isaster s. The Distr ict maint ains commercial insu rance s s.   C o v er   ag  e	m  a y	n ot	extend   to	all   sit uations.   Manag   e m  e n t
t o p r  e cl u d e  any	s i g n i fi c a n t  u n in su r ed	l o ss e s  t o  the	D i st r i c t . Th e s  or	r e c e i v ed	a ny	i n s u r a n c e	cl a i m s  exceeding th e commercial
.

a   management		company		to	perform	management	ad   v i s o ry a n d	a c c o u n t i n g	a d v i s o ry	s e r v i c e s .	C er  t a i n	e mp  l oy     e e s	o f	th  e
o f fi c e r s  (B o a r d  a pp o i n t ed	n o n - v o t i ng   p  o s i t i o n s) of t h e  D i st r i c t .
t	c o mp	e n s a t e s	t h e	m  a n ag    e m  e n t	c o mp  a ny	for	m a n ag e m e n t, o th e r a d m in is tr a t i v e costs.

- 15 -

Supplemental Information Other Than MD&A}

Sanctuary Cove Community Development District dget to Actual Comparison Schedule -	General Fund
 	2016	

Origi nal and
Final Budget	Actual Amounts

Variance \11/ith Final Budget

$	1 6, 7 2 5	$	16,756	$	31	
1 6, 7 2 5	16,756	31	

16, 725	14,   82  2	1 ,_9 0 3	
16,725	14,   82 2	1 ,	9 03	

$	
$	,1 9  34	
$	1 ,9 3 4 	

- 1 6 -

Carr, Riggs & I ngram. LLC
Cert ifie d P ubli c Accountants
500 Gran d Boulevard Suite 210
Miramar B each , Flori da 32550

(850) 837-3141
(850) 654- 4619 (f ax)
CRJc pa .c o m

ON INTE RN AL CONTROL OVER FINANCIAL REPORTING AND ON TTERS BASED ON AN AUDIT OF FI NANCIAL STATEMENTS
DANCE \NITH GOVERNMENT AUDITING STANDARDS

ment Dist rict

h t h e a u d i t i ng s t a nd ar d sg e n e r a lly accepted in the Unit ed States licable  to   fi nancial   aud it s  contained   in  Governrnent   Audit:ing  r G e n er a l of the U n i t ed States, the financial st at ements of t he ajor fund of Sanctuary Cove Com munit y Development Dist rict
r i c t " ), as of a nd for t h e y e a r endedS ep t e m b er 3 0 , 2016, and the ments, which collectively comprise t he District' s basic fi nancial port thereon dated April 10, 2017.

orting

udit   of   the   financial   st atement s,   we considered  the	District's t i ng	( i n t e r n a l c o n t r o l ) to d e t e r m i n e t h e audit procedures th a·t  e s   for	t h e   purpose  of   expressing		our  opinions  on  the   financial se  of   expressi ng	an	o p i n i o n	o n	t h e   e ff  e c t iv e n e s s   the	D i s t r i°ct ' s
o	n o t   e xp-        r e s s a n	o p i n i o n	on	the	e ff e c t i v e n e s s  of	t h  e   District's

sts   \Nhen  the   d esgi   n	or	op   er   a t i o n	o f   a   c o n tr  o l   does   not   allo \N
e	normal	course   of	perf ormi ng	t h e ir	a ssgi	n ed	functions,   to
misst atement s   on a  timely	basis. A	rnaterial 1Neakness  is	a f i ci e n ci e s,	i n	in t e r n a l c o n t r o l, such that there is ar e a s o n a b l e ment  of t he entity  '  s  fi  n a n c i a l  s t a t e m  e n t s   w  i ll   n o t  b  e   prevented,
yl	basis. A significant  deficiency  is a defi ciency,  or  a comb ination
that   is  less  severe  than   a   mat er  i a l   \Neakness,   yet	important charged vvithg o v er n a n c e .

l  was	for	the	ll m  i t e d p   u rp  o s e  d e s c r i b e d   i n   the	firstp arag   r ap  h   o f to identify all d efi ciencies in internal cont rol that might b e
e fi c i e n c \e s . Given t hese limit at ions, during our audit \Ne did not contr   o l  t h a t   we	c o n s id  e r   to	be	m  a t e r i a l   weaknesses.  How eve,r have not been ident ifi ed.

- 17 -

Compliance and Other Matters

As part of obtaining reasonable assurance about whether the District's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of  financial  statement  amounts.  However,  providing  an opinion on compliance with those provisions was not an objective of our  audit, and accordingly,  we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

Purpose of this Report

The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District's internal control and compliance. Accordingly, this communication is not suitable for any other purpose.
c	1<	r·	J	1..1..c_
CARR, RIGGS & INGRAM, LLC

Miramar Beach, Florida April 10, 2017

- 18 -

Carr. Rig gs  &  Ing ra m,  U..C
Ce rt i fi e d P u b l i c Ac c o u n t a n t s
500 Grand Boul evard
Suite 2 10
Miramar Beach. Florida 32550

MANAGEMENT LETTER

ment Distr i c t

(850)837-314  1
(850) 654- 4619 (fa'X)
CRl cp a .c om

ments  of  the  Sanct uary  Cove  Com munity   Develop  ment   Dist rict year  ended  Sep tember   30, 201 6,	and	h a v e   i ss u ed	our	r e p o r t

ance   with  auditing  st andard sg   e n er a lly	a c c ep t ed	in	t h e	U n i t e d pp licab le to f inancial audi ts contained in Gover n rnen t Aud iting General  of  t he  United  S t a t e s;  a nd	Chapter  l.0..550, Rules of  the

ud  i t or   s'		Report  on  Int ernal  Cont rol  over	Fi n a n c i a l  Reporting  and ased   on		an	Audit   of   the   Financial   Statements   Performed	in it:ing	Stand ards   and  Indep endent	Accountant's   Report   on   an nce   with  A/CPA   Professional  St and ar d s,  Section  601,  reg  ar  d fng  d  a n c e	w i t h	 Chapter	10..550,	Rules   of		t he   Audit or	General..
are	dated  April  10,  2017,  should  be  considered   in  conjunct ion

A u d i t o r	Genetat r equires t hat we d et ermine whether or not e n	to	address	fi nding   s	a n d	r e c o m  m  e n d a t i o n s	rn ad  e	i n	th  e or t. Th er e were no findings or recommendatlons made in the

Auditor  Genera, l   requires that the name or  official  tit le  and leg  a l
n t   a n d   each component  unit  of  t he repor t ing   ent ity  be d isclosed s  d i s cl o s e d		in	t h e	n o t e s	to	t h e	fi n a n c i a l	s t a t e m e n t s .	The the	n ot  e s to	t h e f i n a n c i a l s t a t e m e n t s .

-  19	-

Financial Condition

Section 10.554(1}(i)5.a. and 10.556(7), Rules of the Auditor General, require that we apply appropriate procedures and report the results of our determination  as  to  whether  or  not  the District has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and identification of the specific condition(s) met. In connection with our audit, we determined that the District did not meet any of the conditions described in Section 218.503(1), Florida Statutes.

Pursuant to Sections 10.554(1)(i)5.c. and 10.556(8), Rules of the Auditor General, we applied financial condition assessment procedures. It is management's responsibility  to  monitor  the District's financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same.

Annual Financial Report

Section 10.554(1)(i)5.b. and 10.556(7), Rules of the Auditor General, require that we apply appropriate procedures and report the results of our determination as to  whether  the  annual financial report for the District for the fiscal year ended September 30, 2016, filed with the Florida Department of Financial Services pursuant to Section 218.32(1)(a), Florida Statutes, is in agreement with the annual financial audit report for the fiscal year ended September 30, 2016. In  connection  with our audit, we determined that these two reports were in agreement.

Other Matters

Section 10.554(1)(i)2., Rules of the Auditor General, requires that we address in the management letter any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations.

Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material  but  which  warrants the attention of those charged with governance. In connection with our audit, we did not  have any such findings.

Purpose of this Letter

Our management letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, Federal and other granting agencies, the Board of Supervisors, and applicable management, and is not intended to be and should not be used by anyone other  than  these specified parties.
COM--,        /	J 1..1...c..
CARR, RIGGS & INGRAM, LLC

Miramar Beach, Florida April 10, 2017

- 20 -

Car r. Rig gs &  I ng  r a m,  LLC
Cert ifi ed Pub li c Accounta n ts
500 Gra n d B ou le va rd
S u it e 210
M i r a m a r Bea c h . Fl ori Lla 32550

ORT

(850) 837-3141
(850) 654-4619 (f ax)
CRlcpa.com

ment District

ve    Community    Development    District's    comp  liance   vvith    the orida  Stat ut es, Local Government Investment  Policies,d uri ng    the Manag   e m  e n t    is  r  e s p o n si b l e   for      t h e    D i st r i ct ' s   c o m  p l i a n c e    vvith li  ty    is   to     express  an  opinion  on  the  District's  comp  liance  based

n	a c c o rd a n c e	vvith at test at ion standard s est ablished by	t he lic  Accountants  and,  according   l y ,   i n cl u d ed	e x a m  i n i ng,	o n   a   t e s t comp  liance vvith  those  requi rement s and  performing such  other s s a ry	in	t h e	c i r c u m st a n c e s . VVe	b e l i e v e	that our examination
our	opi nion.	Our	exam inat ion	d oes	not	provide	a	leg   a l pliance vvit h sp  ecifi ed r  eq  u ir  e m  e n t s .

p li ed, in a l l m a t e r ia l r e sp e c t s, vvith  ·t he aforementioned ptember 30, 2016.

e i n f o r m a t i o n a nd	u s e of	management and t he S t a t e of F l o r id  a d to be and should not be used by anyon e oth er than t hese

.1..- -c..

- 21 -

SANCTUARY COVE COMMUNITY DEVELOPMENT DISTRICT

District's Financial Position

Sanctuary Cove CDD Statement of Activities As of 8/31/2017

General Fund

Revenues

Developer Contributions Total Revenues

$11,344.51

$11,344.51

Expenses

Insurance Management District Counsel Audit Telephone
Postage & Shipping Legal Advertising
Web Site Maintenance Dues, Licenses, and Fees
Total Expenses

$2,678.00 3,000.00
1,080.96
3,000.00
5.60
25.89
337.95
900.00
175.00

$11,203.40

Other Revenues (Expenses) & Gains (Losses)

Total Other Revenues (Expenses) & Gains (Losses)

Change In Net Assets

Net Assets At Beginning Of Year

Net Assets At End Of Year

$0.00

$141.11

$2,745.06

$2,886.17

Sanctuary Cove CDD Statement of Financial Position As of 8/31/2017

General Fund

Assets

Current Assets
General Checking Account
Accounts Receivable - Due from Developer Total Current Assets

Total Assets

$2,866.30
19.87

$2,886.17

$2,886.17

Net Assets

Net Assets - General Government	$2,745.06	
Current Year Net Assets - General Government	141.11	
Total Net Assets	$2,886.17	
		
Total Liabilities and Net Assets	$2,886.17	

Sanctuary Cove CDD
Budget to Actual
eriod of	10 /1/20 16 Through 8/31/2017

	
Actual	Year To Date
Budg  et	
Var-iance	
FY 17 Budget	
	
$11,3 4 4   .5  1	
$ 1 5,0 9 1 .0 8	
$ ( 3 .74 6, 5 7 )	
$ 16, 4 63 .0 0	
	$ 1 1 ,3 4 4 .5 '1	$1 5 ,0 9 '1.0 8	$(3,74 6.57 )	$16,463 .00	
	
$2,678.00	
$2,6  47 .33	
$30.67	
$2,8 8 8   . 00	
	3,000.00	2,  7   50  .0  0	250.00	3,000.00	
	0.00	9 16.67	(916.67   )	1,000.00	
	1,QBQ.96	4,  58 3   .3   3	{ 3 ,50 2 .37 )	5,000.00	
	3,000.00	2 ,291.67	70 6.3 3	2,500 .00	
	5.60	45 .83	(40.23)	50.00	
	25.89	9 1.67	(65.78)	100 .00	
	0.00	4 5.83	(4 5  .83  )	5 0 .0 0	
	3 3 7 .9 5	4 5 8 .3 3	( 1 20 .38 )	5 0 0 .0 0	
	0 .0 0	2 2 9 . 17	(229.17)	2 50 .0 0	
	0 .0 0	0 .0 0	0 .0 0	0,00	
	0.00	45 .8 3	(45.83)	50 .00	
	900.00	825.00	75.00	900.00	
	17 5 .0 0	16 0  4.   2	14.58	175.00	
	$1,'1203 .4 0	$15,091.08	$(3,887 ,68 )	$'16 ,463 .00	
	 	$ 11,203 .40	$15 ,09 1.08	${3,887.681	$16 ,463 .00	
	$14 1.11	$0.00	$'14'1.11	$0 .00