Hicks Ditch
Community Development District Agenda
August 28, 2024

Agenda

Hicks Ditch
Community Development District
219 E. Livingston Street, Orlando, FL 32801 Phone: 407-841-5524 – Fax: 407-839-1526
August 21, 2024 Board of Supervisors
Hicks Ditch Community Development District
Dear Board Members:
The Special Meeting of the Board of Supervisors of the Hicks Ditch Community Development District will be held Wednesday, August 28, 2024, at 9:30 AM the Cooper Memorial Library, 2525 Oakley Seaver Drive, Clermont, FL 34711. Following is the advance agenda for the regular meeting:

Board of Supervisors Meeting

Roll Call
Public Comment Period
Approval of Minutes of the May 22, 2024 Board of Supervisors Meeting
Public Hearing
Consideration of Resolution 2024-02 Adopting the Fiscal Year 2025 Proposed Budget and Appropriating Funds
Consideration of Developer Funding Agreement with TLC Pine Meadows, LLC
Presentation of Fiscal Year 2023 Financial Audit Report
Staff Reports
Attorney
Engineer
District Manager’s Report
Balance Sheet & Income Statement
Ratification of Funding Agreements No. 23-27
Adoption of District Goals & Objectives
Approval of Fiscal Year 2025 Meeting Schedule
Other Business
Supervisors Requests
Adjournment

Minutes

to be provided under separate cover

Section IV

Section A

RESOLUTION 2024-02
[FY 2025 APPROPRIATION RESOLUTION]

THE ANNUAL APPROPRIATION RESOLUTION OF THE HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT (“DISTRICT”) RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGET(S) FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2024, AND ENDING SEPTEMBER 30, 2025; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, for the fiscal year beginning October 1, 2024, and ending September 30, 2025 (“FY 2025”), the District Manager prepared and submitted to the Board of Supervisors (“Board”) of the Hicks Ditch Community Development District (“District”) prior to June 15, 2024, proposed budget(s) (“Proposed Budget”) 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 general-purpose government(s) having jurisdiction over the area included in the District pursuant to the provisions of Section 190.008(2)(b), Florida Statutes; and

WHEREAS, the Board set a public hearing on the Proposed Budget 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 in
accordance with Section 189.016, Florida Statutes; and

WHEREAS, Section 190.008(2)(a), Florida Statutes, requires that, prior to October 1st 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.

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

SECTION 1.  BUDGET

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 Hicks Ditch Community Development District for the Fiscal Year Ending September 30, 2025.”

The Adopted Budget shall be posted by the District Manager on the District’s official website in accordance with Section 189.016, Florida Statutes and shall remain on the website for at least two (2) years.

SECTION 2.	APPROPRIATIONS

There is hereby appropriated out of the revenues of the District, for FY 2025, the sum(s) set forth in Exhibit A to be raised by the levy of assessments and/or otherwise, which sum is deemed by the Board to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated as set forth in Exhibit A.

SECTION 3.	BUDGET AMENDMENTS

Pursuant to Section 189.016, Florida Statutes, the District at any time within FY 2025 or within 60 days following the end of the FY 2025 may amend its Adopted Budget for that fiscal year as follows:

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

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

Any other budget amendments shall be adopted by resolution and consistent with Florida law. The District Manager or Treasurer must ensure that any amendments to the budget under this paragraph c. are posted on the District’s website in accordance with Section 189.016, Florida Statutes, and remain on the website for at least two (2) years.

SECTION 4.	EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED THIS 28TH DAY OF AUGUST 2024.
ATTEST:	HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary	Chair/Vice Chair, Board of Supervisors
Exhibit A:	FY 2025 Budget

Hicks Ditch
Community Development District

Proposed Budget
FY2025

Table of Contents

1

2 - 4

	General Fund

	General Fund Narrative

Hicks Ditch
Community Development District General Fund

Proposed Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	7/31/24	2 Months	9/30/24	FY2025	

Revenues						
Developer Contributions	$	136,998	$	25,514	$	16,379	$	41,894	$	149,498	
Total Revenues	$	136,998	$	25,514	$	16,379	$	41,894	$	149,498	

Expenditures						
General & Administrative						
Supervisor Fees	$	12,000	$	800	$	2,000	$	2,800	$	12,000	
Fica Expense	$	918	$	61	$	153	$	214	$	918	
Engineering	$	15,000	$	250	$	1,500	$	1,750	$	15,000	
Attorney	$	25,000	$	1,677	$	2,348	$	4,025	$	25,000	
Annual Audit	$	5,000	$	3,200	$	-	$	3,200	$	5,000	
Assessment Administration	$	5,000	$	-	$	-	$	-	$	5,000	
Arbitrage	$	450	$	-	$	-	$	-	$	450	
Dissemination	$	5,000	$	-	$	-	$	-	$	5,000	
Trustee Fees	$	4,100	$	-	$	-	$	-	$	4,100	
Management Fees	$	37,100	$	15,625	$	3,125	$	18,750	$	40,000	
Information Technology	$	1,800	$	1,500	$	300	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	1,000	$	200	$	1,200	$	1,200	
Telephone	$	100	$	-	$	50	$	50	$	100	
Postage & Delivery	$	1,000	$	65	$	75	$	140	$	1,000	
Insurance	$	6,000	$	5,000	$	-	$	5,000	$	5,500	
Printing & Binding	$	1,000	$	9	$	50	$	59	$	1,000	
Legal Advertising	$	12,750	$	650	$	1,500	$	2,150	$	12,750	
Contingency	$	2,500	$	384	$	110	$	494	$	2,500	
Office Supplies	$	300	$	1	$	35	$	36	$	300	
Travel Per Diem	$	605	$	-	$	50	$	50	$	605	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	136,998	$	30,398	$	11,496	$	41,894	$	139,398	

Operation and Maintenance
Field Expenditures				
Contingency	$	-	$	-	$	-	$	-	$	10,100	
Total Field Expenditures	$	-	$	-	$	-	$	-	$	10,100	
				
Total O&M Expenditures:	$	-	$	-	$	-	$	-	$	10,100	

Total Expenditures	$	136,998	$	30,398	$	11,496	$	41,894	$	149,498	
						
Excess Revenues/(Expenditures)	$	-	$	(4,883)	$	4,883	$	-	$	(0)	

Hicks Ditch
Community Development District
General Fund Narrative

Revenues:

Developer Contributions

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

Expenditures:

General & Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

FICA Expense

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

Engineering

The District's engineer will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

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

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage Fees

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its bonds and any other anticipated bond issuance.

Dissemination Fees

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues.

Hicks Ditch
Community Development District
General Fund Narrative

Trustee Fees

The District will pay annual trustee fees for the proposed bonds.

Management Fees

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

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc

Website Maintenance

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

Telephone

Telephone and fax machine.

Postage & Delivery

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

Insurance

The District’s general liability and public official’s liability insurance coverages.

Printing & Binding

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

Legal Advertising

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

Contingency

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

Office Supplies

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

Hicks Ditch
Community Development District
General Fund Narrative

Travel Per Diem

The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

Dues, Licenses & Subscriptions

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

Operations & Maintenance: Field Services

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Section B

BUDGET FUNDING AGREEMENT FISCAL YEAR 2025

This Agreement (“Agreement”) is made and entered into effective as of October 1, 2024, by and
between:

Hicks Ditch Community Development District, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, (“District”), and is located in Lake County, Florida (“County”), and

TLC Pine Meadows, LLC, a Florida limited liability company, and the owner and/or developer of property located within the boundaries of the District (“Developer,” and together with the District, the “Parties”). For purposes of this Agreement, the term “Property” shall refer to that certain property within the CDD owned by the Developer on the Effective Date of this Agreement .

RECITALS

WHEREAS, pursuant to Chapter 190, Florida Statutes, the District was established for the purpose of planning, financing, constructing, operating and/or maintaining certain infrastructure, and 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 Property within the District, which Property will benefit from the timely construction and acquisition of the District's facilities, activities, and services and from the continued operations of the District; and

WHEREAS, for the fiscal year beginning October 1, 2024, and ending September 30, 2025 (“FY 2025”), the Board of Supervisors (“Board”) of the District adopted its general fund budget (“Budget”) attached hereto as Exhibit A and incorporated herein by reference; and

WHEREAS, the Parties recognize the Budget may be amended from time to time in the sole discretion of the District; and

WHEREAS, the District has the option of levying non-ad valorem assessments on all lands within the District benefitting from the activities, operations and services set forth in the Budget, including the Property, or utilizing such other revenue sources as may be available to it; and

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

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

WHEREAS, the Developer 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 lands within the District, including the Property, for the activities, operations, and services set forth in the Budget; and

WHEREAS, Developer and District agree such Budget funding obligation by the Developer may be secured and collection enforced pursuant to the methods 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 (“Funding Obligation”) necessary for the operation of the District as called for in the Budget attached hereto as Exhibit A within thirty (30) days of written request by the District. Exhibit A attached hereto may be amended from time to time pursuant to Florida law, subject to the Developer’s consent to such amendments to incorporate them herein; provided however, that amendments adopted by the Board at a duly noticed meeting shall have the effect of amending this Agreement without further action of the Parties. As a point of clarification, the District shall only request as part of the Funding Obligation that the Developer fund the actual expenses of the District, and the Developer is not required to fund the total general fund Budget in the event that actual expenses are less than the projected total general fund Budget, as may be amended as provided herein. The funds shall be placed in the District's general checking account. In the event the Developer sells any of the Property during the term of this Agreement, the Developer’s rights and obligations under this Agreement shall remain the same.

ACKNOWLEDGEMENT. The District hereby finds, and the Developer acknowledges and agrees, that the activities, operations and services set forth in the Budget provide a special and peculiar benefit to the Property, which benefit is initially allocated on an equal developable acreage basis. These payments are made by the Developer in lieu of taxes, fees, or assessments which might otherwise be levied or imposed by the District. Nothing contained herein shall constitute or be construed as a waiver of the District’s right to levy assessments, including on the Property, in the event of a funding deficit.

COLLECTION METHODS. The District may enforce the collection of funds due under this Agreement using one or more of the following collection methods:
Contractual Lien. The District shall have the right to file a continuing lien (“Lien”) upon all or a portion of the Property , which Lien shall be effective as of the date and time of the recording of a “Notice of Lien” in the public records of the County.
Enforcement Action. The District shall have the right to file an action against the Developer in the appropriate judicial forum in and for the County.
Uniform Method; Direct. The District may certify amounts due hereunder as a non- ad valorem assessment on all or any part of the Property for collection, either through the Uniform Method of Collection set forth in Chapter 197, Florida Statutes, or under any method of direct bill and collection authorized by Florida law.
The enforcement of the collection of funds in any of the above manners, including which method(s) to utilize, shall be in the sole discretion of the District Manager on behalf of the District, without the need of further Board action authorizing or directing such

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

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

ASSIGNMENT. This Agreement may be assigned, in whole or in part, by either party only upon the written consent of the other. Any purported assignment without such consent shall be void.

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

ENFORCEMENT. In the event that any party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the prevailing party shall be entitled to recover from the other all costs incurred, including interest accrued on an unsatisfied Funding Obligation, reasonable fees and costs incurred by the District incident to the collection of the Funding Obligation or for enforcement of the Lien, or reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.

THIRD PARTY BENEFICIARIES. This Agreement is solely for the benefit of the formal Parties herein and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the Parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the Parties hereto and their respective representatives, successors and assigns.

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

[SIGNATURES ON NEXT PAGE]

IN WITNESS WHEREOF, the Parties execute this Agreement the day and year first written above.

Attest:	Hicks Ditch Community
Development District

Secretary/Assistant Secretary	By: 	 Its: 	

TLC Pine Meadows, LLC,
a Florida limited liability company

Witness	By: 	
Its: 	

EXHIBIT A:	FY 2025 Budget

Section V

HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT
CITY OF EUSTIS, FLORIDA FINANCIAL REPORT
FOR THE PERIOD FROM INCEPTION NOVEMBER 3, 2022 TO SEPTEMBER 30, 2023

HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT CITY OF EUSTIS, FLORIDA

TABLE OF CONTENTS

	  Page		
INDEPENDENT AUDITOR’S REPORT	1-2	
MANAGEMENT’S DISCUSSION AND ANALYSIS	3-5	
BASIC FINANCIAL STATEMENTS		
Government-Wide Financial Statements:		
Statement of Net Position	6	
Statement of Activities	7	
Fund Financial Statements:		
Balance Sheet – Governmental Funds	8	
Reconciliation of the Balance Sheet – Governmental Funds		
to the Statement of Net Position	9	
Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds	
10	
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities	
11	
Notes to Financial Statements	12-17	
REQUIRED SUPPLEMENTARY INFORMATION		
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – General Fund	
18	
Notes to Required Supplementary Information	19	
OTHER INFORMATION		
Data Elements Required by Florida Statute 218.39(3)(c)	20	
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS	

21-22	
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10)
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	

23	
MANAGEMENT LETTER REQUIRED BY CHAPTER 10.550 OF THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	
24-25	

INDEPENDENT AUDITOR’S REPORT
To the Board of Supervisors
Hicks Ditch Community Development District City of Eustis, Florida

951 Yamato Road ▪ Suite 280 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities and each major fund of Hicks Ditch Community Development District, City of Eustis, Florida (“District”) as of and for the period from inception November 3, 2022 to September 30, 2023, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.
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, 2023, and the respective changes in financial position thereof for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the District and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
The District’s management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.
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 be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge 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 Information Included in the Financial Report
Management is responsible for the other information included in the financial report. The other information comprises the information for compliance with FL Statute 218.39 (3) (c) but does not include the financial statements and our auditor's report thereon. Our opinions on the financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated May 29, 2024, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control over financial reporting and compliance.

May 29, 2024

MANAGEMENT’S DISCUSSION AND ANALYSIS

Our discussion and analysis of Hicks Ditch Community Development District, City of Eustis, Florida (“District”) provides a narrative overview of the District’s financial activities for the period from inception November 3, 2022 to September 30, 2023. Please read it in conjunction with the District’s Independent Auditor’s Report, basic financial statements, accompanying notes and supplementary information to the basic financial statements.

This information is being presented to provide additional information regarding the activities of the District and to meet the disclosure requirements of Government Accounting Standards Board Statement (“GASB”) No. 34, Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments issued June 1999. Comparative information between the current year and the prior year is required to be presented in the Management’s Discussion and Analysis (“MD&A”). However, because this is the first year of significant operations of the District, comparative information is excluded in this report. Subsequent reports will include the comparative information.

FINANCIAL HIGHLIGHTS

The liabilities of the District exceeded its assets at the close of the most recent fiscal year resulting in a net position deficit balance of ($673).

The District’s total net position ($673). The key components of the District’s net position and change in net position are reflected in the table in the government-wide financial analysis section.

At September 30, 2023, the District’s governmental funds reported combined ending fund balance of $10,921. The total fund balance is unassigned fund balance.
OVERVIEW OF FINANCIAL STATEMENTS

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

Government-Wide Financial Statements

The government-wide financial statements are designed to provide readers with a broad overview of the District’s finances, in a manner similar to a private-sector business.
The statement of net position presents information on all the District’s assets, deferred outflows of resources, liabilities, and deferred inflows of resources with the residual amount being reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.

The statement of activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods.

The government-wide financial statements include all governmental activities that are principally supported by Developer contributions. The District does not have any business-type activities. The governmental activities of the District include the general government (management) function.

OVERVIEW OF FINANCIAL STATEMENTS (Continued)

Fund Financial Statements

A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The District has one fund category: governmental funds.
Governmental Funds
Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a District’s near-term financing requirements.

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

The District maintains two governmental funds for external reporting. Information is presented separately in the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances for the general fund and capital projects fund, both of which are considered major funds.

The District adopts an annual appropriated budget for its general fund. A budgetary comparison schedule has been provided for the general fund to demonstrate compliance with the budget.

Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements.

GOVERNMENT-WIDE FINANCIAL ANALYSIS
As noted earlier, net position may serve over time as a useful indicator of an entity’s financial position. In the case of the District, liabilities exceeded assets at the close of the most recent fiscal year.

Key components of the District’s net position are reflected in the following table:
NET POSITION SEPTEMBER 30,

2023
Current and other assets	$	15,266	
Total assets	15,266	
Current liabilities	4,345	
Long-term liabilities	11,594	
Total liabilities	15,939	
Net position
Unrestricted	(673)
Total net position	$	(673)

GOVERNMENT-WIDE FINANCIAL ANALYSIS (Continued)

The District’s net position decreased during the most recent fiscal year. The majority of the decrease represents the extent to which the cost of operations exceeded ongoing program revenues.

Key elements of the change in net position are reflected in the following table:
CHANGES IN NET POSITION
FOR THE PERIOD FROM INCEPTION NOVEMBER 3, 2022 TO SEPTEMBER 30, 2023

	2023	
Revenues:
Program revenues
Operating grants and contributions	

$	59,553	
Total revenues	59,553	
Expenses:
General government	
48,632	
Bond issue costs	11,594	
Total expenses	60,226	
Change in net position	(673)	
Net position - beginning	-	
Net position - ending	$	(673)	

As noted above and in the statement of activities, the cost of all governmental activities during the period from inception November 3, 2022 to September 30, 2023 was $60,226. The costs of the District’s activities were funded by program revenues which were comprised of Developer contributions.
GENERAL BUDGETING HIGHLIGHTS
An operating budget was adopted and maintained by the governing board for the District pursuant to the requirements of Florida Statutes. The budget is adopted using the same basis of accounting that is used in preparation of the fund financial statements. The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the period from inception November 3, 2022 to September 30, 2023.

CAPITAL DEBT ADMINISTRATION

Capital Debt
At September 30, 2023, the District had $11,594 in Developer Advances. More detailed information about the District’s capital debt is presented in the notes of the financial statements.

ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND OTHER EVENTS

Subsequent to fiscal year end, the District is preparing to issue bonds. CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT
This financial report is designed to provide our citizens, land owners, customers, investors and creditors with a general overview of the District’s finances and to demonstrate the District’s accountability for the financial resources it manages and the stewardship of the facilities it maintains. If you have questions about this report or need additional financial information, contact the Hicks Ditch Community Development District’s Finance Department at 219 E. Livingston Street, Orlando, FL 32801.

HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT CITY OF EUSTIS, FLORIDA
STATEMENT OF NET POSITION SEPTEMBER 30, 2023

	Governmental
	Activities		
ASSETS		
Cash	$	6,615	
Due from Developer		8,651 	
Total assets		15,266 	
LIABILITIES		
Accounts payable	4,345	
Non-current liabilities:		
Due in more than one year		11,594 	
Total liabilities		15,939 	
NET POSITION		
Unrestricted		(673)	
Total net position	 $	(673)	

See notes to the financial statements

HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT CITY OF EUSTIS, FLORIDA
STATEMENT OF ACTIVITIES
FOR THE PERIOD FROM INCEPTION NOVEMBER 3, 2022 TO SEPTEMBER 30, 2023

Program

Net (Expense) Revenue and Changes in Net

		Revenues	Position	 Operating Grants
and	Governmental
Functions/Programs		Expenses	Contributions	Activities	 Primary government:
Governmental activities:

General government

$	48,632	$

59,553	$

10,921

Bond issue costs		11,594	-	(11,594)
Total governmental activities		60,226	59,553	(673)

Change in net position	(673)
Net position - beginning		-	
Net position - ending	 $	(673)

See notes to the financial statements

HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT CITY OF EUSTIS, FLORIDA
BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2023

	Major Funds	
Capital

Total Governmental

ASSETS

General

Projects

Funds

Cash	$	6,615	$	-	$	6,615	
Due from Developer	8,651	-	8,651	
Total assets	$	15,266	$	-	$	15,266	

LIABILITIES, AND FUND BALANCES
Liabilities:
Accounts payable	$	4,345	$	-	$	4,345	
Total liabilities	4,345	-	4,345	

Fund balances: Unassigned		

10,921		

-		

10,921	
Total fund balances		10,921		-		10,921	

Total liabilities and fund balances	
$	
15,266	
$	
-	
$	
15,266	

See notes to the financial statements

HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT CITY OF EUSTIS, FLORIDA
RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION
SEPTEMBER 30, 2023
Fund balance - governmental funds	$	10,921 Amounts reported for governmental activities in the statement of
net position are different because:
Liabilities not due and payable from current available resources are not reported as liabilities in the governmental fund statements. All liabilities, both current and long-term, are reported in the government-wide financial statements.
Developer advances		(11,594)
Net position of governmental activities	$	(673)

See notes to the financial statements

HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT CITY OF EUSTIS, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS
FOR THE PERIOD FROM INCEPTION NOVEMBER 3, 2022 TO SEPTEMBER 30, 2023

	Major Funds		Total

General

Capital Projects

Governmental Funds

REVENUES		
Developer contributions	$	59,553	$	-	$	59,553	
Total revenues	59,553	-	59,553	

EXPENDITURES
Current:
General government	

48,632	

-	

48,632	
Debt service:
Bond issuance costs	
-	
11,594	
11,594	
Total expenditures	48,632	11,594	60,226	
Excess (deficiency) of revenues over (under) expenditures	

10,921	

(11,594)	

(673)	

OTHER FINANCING SOURCES (USES)
Developer advances	

-	

11,594	

11,594	
Total other financing sources (uses)	-	11,594	11,594	

Net change in fund balances	
10,921	
-	
10,921	

Fund balances - beginning	-	-	-

Fund balances - ending

$	10,921	$

-	$	10,921

See notes to the financial statements

HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT CITY OF EUSTIS, FLORIDA
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FOR THE PERIOD FROM INCEPTION NOVEMBER 3, 2022 TO SEPTEMBER 30, 2023

Net change in fund balances - total governmental funds	$	10,921 Amounts reported for governmental activities in the statement of activities
are different because:
Governmental	funds	report	Developer	advances	as	financial resources, whereas these amounts are eliminated in the statement of

activities and recognized as long-term liabilities in the statement of Change in net position of governmental activities

	(11,594) 
$	(673)

See notes to the financial statements

HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT CITY OF EUSTIS, FLORIDA
NOTES TO FINANCIAL STATEMENTS

NOTE 1 - NATURE OF ORGANIZATION AND REPORTING ENTITY

Hicks Ditch Community Development District (the "District") was established by the City Council of the City of Eustis’ approval of Ordinance No. 22-21 effective on November 3, 2022 pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes. The Act provides among other things, the power to manage basic services for community development, power to borrow money and issue bonds, and to levy and assess non-ad valorem assessments for the financing and delivery of capital infrastructure.

The District was established for the purposes of financing and managing the acquisition, construction, maintenance and operation of a portion of the infrastructure necessary for community development within the District.
The District is governed by the Board of Supervisors ("Board"), which is composed of five members. The Supervisors are elected on an at large basis by the owners of the property within the District. The Board exercises all powers granted to the District pursuant to Chapter 190, Florida Statutes. As of September 30, 2023, three of the five Board members are affiliated with TLC Pine Meadows, LLC (“Developer”).

The Board has the responsibility for:
Allocating and levying assessments.
Approving budgets.
Exercising control over facilities and properties.
Controlling the use of funds generated by the District.
Approving the hiring and firing of key personnel.
Financing improvements.

The financial statements were prepared in accordance with Governmental Accounting Standards Board (“GASB”) Statements. Under the provisions of those standards, the financial reporting entity consists of the primary government, organizations for which the District is considered to be financially accountable and other organizations for which the nature and significance of their relationship with the District are such that, if excluded, the financial statements of the District would be considered incomplete or misleading. There are no entities considered to be component units of the District; therefore, the financial statements include only the operations of the District.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Government-Wide and Fund Financial Statements
The basic financial statements include both government-wide and fund financial statements.
The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to customers who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment; operating- type special assessments for maintenance and debt service are treated as charges for services and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Other items not included among program revenues are reported instead as general revenues.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

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

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures are recorded only when payment is due.
Assessments
Assessments are non-ad valorem assessments on benefited property within the District. Operating and maintenance assessments are based upon the adopted budget and levied annually at a public hearing of the District. Debt service assessments are levied when Bonds are issued and assessed and collected on an annual basis. The District may collect assessments directly or utilize the uniform method of collection under Florida Statutes. Direct collected assessments are due as determined by annual assessment resolution adopted by the Board of Supervisors. Assessments collected under the uniform method are mailed by the County Tax Collector on November 1 and due on or before March 31 of each year. Property owners may prepay a portion or all of the debt service assessments on their property subject to various provisions in the Bond documents.

Assessments and interest associated with the current fiscal period are considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. The portion of assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period.

The District reports the following major governmental funds:

General Fund
The general fund is the general operating fund of the District. It is used to account for all financial resources except those required to be accounted for in another fund.
Capital Projects Fund
This fund accounts for the financial resources to be used for the acquisition or construction of major infrastructure within the District.

As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements.
When both restricted and unrestricted resources are available for use, it is the government’s policy to use restricted resources first for qualifying expenditures, then unrestricted resources as they are needed.

Assets, Liabilities and Net Position or Equity
Restricted Assets
These assets represent cash and investments set aside pursuant to Bond covenants or other contractual restrictions.

Deposits and Investments
The District’s cash and cash equivalents are considered to be cash on hand and demand deposits (interest and non-interest bearing).

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity (Continued)
Deposits and Investments (Continued)
The District has elected to proceed under the Alternative Investment Guidelines as set forth in Section
218.415 (17) Florida Statutes. The District may invest any surplus public funds in the following:

The Local Government Surplus Trust Funds, or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act;
Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency;
Interest bearing time deposits or savings accounts in qualified public depositories;
Direct obligations of the U.S. Treasury.
Securities listed in paragraph c and d shall be invested to provide sufficient liquidity to pay obligations as they come due.

The District records all interest revenue related to investment activities in the respective funds. Investments are measured at amortized cost or reported at fair value as required by generally accepted accounting principles.
Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements.

Capital Assets
Capital assets which include property, plant and equipment, and infrastructure assets (e.g., roads, sidewalks and similar items) are reported in the government activities columns in the government-wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than $5,000 and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value at the date of donation.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed.
Unearned Revenue
Governmental funds report unearned revenue in connection with resources that have been received, but not yet earned.

Long-Term Obligations
In the government-wide financial statements long-term debt and other long-term obligations are reported as liabilities in the statement of net position. Bond premiums and discounts are deferred and amortized over the life of the Bonds. Bonds payable are reported net of applicable premiums or discounts. Bond issuance costs are expensed when incurred.

In the fund financial statements, governmental fund types recognize premiums and discounts, as well as issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity (Continued)
Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then.

In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.
Fund Equity/Net Position
In the fund financial statements, governmental funds report non spendable and restricted fund balance for amounts that are not available for appropriation or are legally restricted by outside parties for use for a specific purpose. Assignments of fund balance represent tentative management plans that are subject to change.

The District can establish limitations on the use of fund balance as follows:

Committed fund balance – Amounts that can be used only for the specific purposes determined by a formal action (resolution) of the Board of Supervisors. Commitments may be changed or lifted only by the Board of Supervisors taking the same formal action (resolution) that imposed the constraint originally. Resources accumulated pursuant to stabilization arrangements sometimes are reported in this category.
Assigned fund balance – Includes spendable fund balance amounts established by the Board of Supervisors that are intended to be used for specific purposes that are neither considered restricted nor committed. The Board may also assign fund balance as it does when appropriating fund balance to cover differences in estimated revenue and appropriations in the subsequent year’s appropriated budget. Assignments are generally temporary and normally the same formal action need not be taken to remove the assignment.

The District first uses committed fund balance, followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used.

Net position is the difference between assets and deferred outflows of resources less liabilities and deferred inflows of resources. Net position in the government-wide financial statements are categorized as net investment in capital assets, restricted or unrestricted. Net investment in capital assets represents net position related to infrastructure and property, plant and equipment. Restricted net position represents the assets restricted by the District’s Bond covenants or other contractual restrictions. Unrestricted net position consists of the net position not meeting the definition of either of the other two components.

Other Disclosures
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates.

NOTE 3 - BUDGETARY INFORMATION

The District is required to establish a budgetary system and an approved Annual Budget. Annual Budgets are adopted on a basis consistent with generally accepted accounting principles for the general fund. All annual appropriations lapse at fiscal year-end.

The District follows these procedures in establishing the budgetary data reflected in the financial statements.
Each year the District Manager submits to the District Board a proposed operating budget for the fiscal year commencing the following October 1.
Public hearings are conducted to obtain comments.
Prior to October 1, the budget is legally adopted by the District Board.
All budget changes must be approved by the District Board, unless otherwise delegated by the Board.
The budgets are adopted on a basis consistent with generally accepted accounting principles.
Unused appropriations for annually budgeted funds lapse at the end of the year.
NOTE 4 – DEPOSITS

The District’s cash balances were entirely covered by federal depository insurance or by a collateral pool pledged to the State Treasurer. Florida Statutes Chapter 280, "Florida Security for Public Deposits Act", requires all qualified depositories to deposit with the Treasurer or another banking institution eligible collateral equal to various percentages of the average daily balance for each month of all public deposits in excess of any applicable deposit insurance held. The percentage of eligible collateral (generally, U.S. Governmental and agency securities, state or local government debt, or corporate bonds) to public deposits is dependent upon the depository's financial history and its compliance with Chapter 280. In the event of a failure of a qualified public depository, the remaining public depositories would be responsible for covering any resulting losses.

NOTE 5 – CAPITAL ASSETS

The infrastructure intended to serve the District has been estimated at a total cost of approximately
$23,264,649. A portion of the project costs was expected to be financed with the proceeds from the issuance of Bonds with the remainder to be funded by the Developer and conveyed to the District. Upon completion, certain improvements are to be conveyed to others for ownership and maintenance responsibilities.

NOTE 6 – LONG TERM LIABILITIES
During the current year the Developer advanced the District $11,594, to provide funding for expenses that will be reimbursed from a future Bond issuance.

Governmental activities

Beginning Balance

Additions	Reductions

Ending Balance

Due Within One Year

Developer advances	$	-	$	11,594	$	-	$	11,594	$	-	
Total	$	-	$	11,594	$	-	$	11,594	$	-	

NOTE 7 - DEVELOPER TRANSACTIONS

The Developer has agreed to fund the general operations of the District.	In connection with that agreement, Developer contributions to the general fund were $59,553, which includes a receivable of
$8,651 as of September 30, 2023.
NOTE 8 - CONCENTRATION

The District’s activity is dependent upon the continued involvement of the Developer and major landowners, the loss of which could have a material adverse effect on the District’s operations.

NOTE 9 - MANAGEMENT COMPANY

The District has contracted with a management company to perform services which include financial and accounting advisory services. Certain employees of the management company also serve as officers of the District. Under the agreement, the District compensates the management company for management, accounting, financial reporting, computer and other administrative costs.

NOTE 10 - RISK MANAGEMENT

The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters. The District has obtained commercial insurance from independent third parties to mitigate the costs of these risks; coverage may not extend to all situations. There were no settled claims since inception of the District.

HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT CITY OF EUSTIS, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND
FOR THE PERIOD FROM INCEPTION NOVEMBER 3, 2022 TO SEPTEMBER 30, 2023

	Budgeted Amounts Original & Final	

Actual Amounts	Variance with Final Budget - Positive
(Negative)	

REVENUES
Developer Contributions	

$	114,178	

$	59,553	

$	(54,625)	
Total revenues	114,178	59,553	(54,625)	

EXPENDITURES
Current:
General government	

114,178	

48,632	

65,546	
Total expenditures	114,178	48,632	65,546	

Excess (deficiency) of revenues				
over (under) expenditures	 $	-		10,921	 $	10,921 	
Fund balance - beginning			-			
Fund balance - ending		 $	10,921 		

See notes to required supplementary information

HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT CITY OF EUSTIS, FLORIDA
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
The District is required to establish a budgetary system and an approved Annual Budget for the general fund. The District’s budgeting process is based on estimates of cash receipts and cash expenditures which are approved by the Board. The budget approximates a basis consistent with accounting principles generally accepted in the United States of America (generally accepted accounting principles).

The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the period from inception November 3, 2022 to September 30, 2023.

HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT CITY OF EUSTIS, FLORIDA
OTHER INFORMATION – DATA ELEMENTS REQUIRED BY FL STATUTE 218.39(3)(C)
FOR THE PERIOD FROM INCEPTION NOVEMBER 3, 2022 TO SEPTEMBER 30, 2023 UNAUDITED

Element	Comments
Number of District employees compensated in the last pay period of the
District’s fiscal year being reported.	0	
Number of independent contractors compensated to w hom nonemployee compensation w as paid in the last month of the District’s fiscal year being
reported.	
2	
Employee compensation	$	1,800.00	
Independent contractor compensation	$	58,288.40	
Construction projects to begin on or after October 1; ($65K)	Not applicable	

Budget variance report	See the Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and
Actual - General Fund	
Ad Valorem taxes;	Not applicable	
		
Non ad valorem special assessments;	Not applicable	
Special assessment rate	Operations and maintenance - N/A
Debt service - N/A	
Special assessments collected	Not applicable	
Outstanding Bonds:	Not applicable	

951 Yamato Road ▪ Suite 280 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

To the Board of Supervisors
Hicks Ditch Community Development District City of Eustis, Florida
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities and the major fund of Hicks Ditch Community Development District, City of Eustis, Florida (“District”) as of and for the period from inception November 3, 2022 to September 30, 2023, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our opinion thereon dated May 29, 2024.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the District’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified.
Report on 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 agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

May 29, 2024

951 Yamato Road ▪ Suite 280 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10) OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

To the Board of Supervisors
Hicks Ditch Community Development District City of Eustis, Florida
We have examined Hicks Ditch Community Development District, City of Eustis, Florida’s (“District”) compliance with the requirements of Section 218.415, Florida Statutes, in accordance with Rule 10.556(10) of the Auditor General of the State of Florida during the period from inception November 3, 2022 to September 30, 2023. Management is responsible for District’s compliance with those requirements. Our responsibility is to express an opinion on District’s compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the District complied, in all material respects, with the specified requirements referenced in Section 218.415, Florida Statutes. An examination involves performing procedures to obtain evidence about whether the District complied with the specified requirements. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material noncompliance, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the District’s compliance with specified requirements.

We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the examination engagement.
In our opinion, the District complied, in all material respects, with the aforementioned requirements for the period from inception November 3, 2022 to September 30, 2023.

This report 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, management, and the Supervisors of Hicks Ditch Community Development District, City of Eustis, Florida and is not intended to be and should not be used by anyone other than these specified parties.

May 29, 2024

951 Yamato Road ▪ Suite 280 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL FOR THE STATE OF FLORIDA
To the Board of Supervisors
Hicks Ditch Community Development District City of Eustis, Florida
Report on the Financial Statements

We have audited the accompanying basic financial statements of Hicks Ditch Community Development District, City of Eustis, Florida ("District") as of and for period from inception November 3, 2022 to September 30, 2023, and have issued our report thereon dated May 29, 2024.
Auditor’s Responsibility

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

We have issued our Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; and Independent Auditor’s Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated May 29, 2024, should be considered in conjunction with this management letter.
Purpose of this Letter

The purpose of this letter is to comment on those matters required by Chapter 10.550 of the Rules of the Auditor General for the State of Florida. Accordingly, in connection with our audit of the financial statements of the District, as described in the first paragraph, we report the following:

Current year findings and recommendations.
Status of prior year findings and recommendations.
Compliance with the Provisions of the Auditor General of the State of Florida.

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, as applicable, management, and the Board of Supervisors of Hicks Ditch Community Development District, City of Eustis, Florida and is not intended to be and should not be used by anyone other than these specified parties.

We wish to thank Hicks Ditch Community Development District, City of Eustis, Florida and the personnel associated with it, for the opportunity to be of service to them in this endeavor as well as future engagements, and the courtesies extended to us.

May 29, 2024

REPORT TO MANAGEMENT

CURRENT YEAR FINDINGS AND RECOMMENDATIONS

None.

PRIOR YEAR FINDINGS AND RECOMMENDATIONS
Not applicable. First year audit.

COMPLIANCE WITH THE PROVISIONS OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

Unless otherwise required to be reported in the auditor’s report on compliance and internal controls, the management letter shall include, but not be limited to the following:

A statement as to whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report.
Not applicable. First year audit.
Any recommendations to improve the local governmental entity's financial management.
There were no such matters discovered by, or that came to the attention of, the auditor, to be reported for the period from inception November 3, 2022 to September 30, 2023.
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.
There were no such matters discovered by, or that came to the attention of, the auditor, to be reported, for the period from inception November 3, 2022 to September 30, 2023.
The name or official title and legal authority of the District are disclosed in the notes to the financial statements.
The District has not met one or more of the financial emergency conditions described in Section 218.503(1), Florida Statutes.
We applied financial condition assessment procedures and no deteriorating financial conditions were noted. It is management’s responsibility to monitor 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.

Management has provided the specific information required by Section 218.39(3)(c) in the Other Information section of the financial statements on page 20.

Section VI

Section C

Section 1

Hicks Ditch
Community Development District

Unaudited Financial Reporting
July 31, 2024

Table of Contents

	Balance Sheet

	General Fund

	Month to Month

Hicks Ditch
Community Development District Combined Balance Sheet
July 31, 2024

	General Fund	Totals Governmental Funds	
Assets:
Operating Account	

$	7,803	

$	7,803	
Due from Developer	$	-	$	-	
Total Assets	$	7,803	$	7,803	
Liabilities:			
Accounts Payable	$	1,766	$	1,766	
Total Liabilites	$	1,766	$	1,766	

Fund Balance:			
Unassigned	$	6,037	$	6,037	
Total Fund Balances	$	6,037	$	6,037	
			
Total Liabilities & Fund Balance	$	7,803	$	7,803	

Hicks Ditch
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending July 31, 2024

	Adopted	Prorated Budget	Actual		
	Budget	Thru 07/31/24	Thru 07/31/24	Variance	

Revenues:					
Developer Contributions	$	136,998	$	25,514	$	25,514	$	-	
Total Revenues	$	136,998	$	25,514	$	25,514	$	-	

Expenditures:					
General & Administrative:					
Supervisors Fees	$	12,000	$	10,000	$	800	$	9,200	
FICA Expense	$	918	$	765	$	61	$	704	
Engineering	$	15,000	$	12,500	$	250	$	12,250	
Attorney	$	25,000	$	20,833	$	1,677	$	19,156	
Annual Audit	$	5,000	$	5,000	$	3,200	$	1,800	
Assessment Administration	$	5,000	$	-	$	-	$	-	
Arbitrage	$	450	$	-	$	-	$	-	
Dissemination	$	5,000	$	-	$	-	$	-	
Trustee Fees	$	4,100	$	-	$	-	$	-	
Management Fees	$	37,100	$	30,917	$	15,625	$	15,292	
Information Technology	$	1,800	$	1,500	$	1,500	$	-	
Website Maintenance	$	1,200	$	1,000	$	1,000	$	-	
Telephone	$	100	$	83	$	-	$	83	
Postage & Delivery	$	1,000	$	833	$	65	$	768	
Insurance	$	6,000	$	6,000	$	5,000	$	1,000	
Printing & Binding	$	1,000	$	833	$	9	$	825	
Legal Advertising	$	12,750	$	10,625	$	650	$	9,975	
Contingency	$	2,500	$	2,083	$	384	$	1,699	
Office Supplies	$	300	$	250	$	1	$	249	
Travel Per Diem	$	605	$	504	$	-	$	504	
Dues, Licenses & Subscriptions	$	175	$	175	$	175	$	-	
Total Expenditures	$	136,998	$	103,903	$	30,398	$	73,505	
					
Excess Revenues (Expenditures)	$	-		$	(4,883)		
					
Fund Balance - Beginning	$	-		$	10,920		
					
Fund Balance - Ending	$	-		$	6,037		

Hicks Ditch
Community Development District Month to Month

Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total

Revenues:

Developer Contributions

$	2,448  $

2,815  $

2,511  $

2,020  $

5,341  $

1,813  $

2,477  $

2,359  $

1,901  $

1,827  $	-  $

-  $	25,514

Total Revenues	$	2,448  $	2,815  $	2,511  $	2,020  $	5,341  $	1,813  $	2,477  $	2,359  $	1,901  $	1,827  $	-  $	-  $	25,514

Expenditures:

General & Administrative:

Supervisor Fees FICA Expense Engineering Attorney
Annual Audit
Assessment Administration Arbitrage
Dissemination Trustee Fees Management Fees
Information Technology Website Maintenance Telephone
Postage & Delivery Insurance
Printing & Binding Legal Advertising
Other Current Charges Office Supplies
Travel Per Diem
Dues, Licenses & Subscriptions

$	-  $
$	-  $
$	250  $
$	181  $
$	-  $
$	-  $
$	-  $
$	-  $
$	-  $
$	1,563  $
$	150  $
$	100  $
$	-  $
$	2  $
$	5,000  $
$	-  $
$	357  $
$	8  $
$	0  $
$	-  $
$	175  $

200  $
15  $
-  $
267  $
-  $
-  $
-  $
-  $
-  $
1,563  $
150  $
100  $
-  $
39  $
-  $
1  $
-  $
8  $
0  $
-  $
-  $

-  $
-  $
-  $
325  $
-  $
-  $
-  $
-  $
-  $
1,563  $
150  $
100  $
-  $
1  $
-  $
-  $
203  $
8  $
0  $
-  $
-  $

400  $
31  $
-  $
-  $
-  $
-  $
-  $
-  $
-  $
1,563  $
150  $
100  $
-  $
3  $
-  $
2  $
-  $
48  $
0  $
-  $
-  $

-  $
-  $
-  $
664  $
3,200  $
-  $
-  $
-  $
-  $
1,563  $
150  $
100  $
-  $
4  $
-  $
-  $
-  $
38  $
0  $
-  $
-  $

-  $
-  $
-  $
241  $
-  $
-  $
-  $
-  $
-  $
1,563  $
150  $
100  $
-  $
1  $
-  $
-  $
91  $
38  $
0  $
-  $
-  $

-  $
-  $
-  $
-  $
-  $
-  $
-  $
-  $
-  $
1,563  $
150  $
100  $
-  $
1  $
-  $
-  $
-  $
38  $
0  $
-  $
-  $

200  $
15  $
-  $
-  $
-  $
-  $
-  $
-  $
-  $
1,563  $
150  $
100  $
-  $
-  $
-  $
-  $
-  $
121  $
-  $
-  $
-  $

-  $
-  $
-  $
-  $
-  $
-  $
-  $
-  $
-  $
1,563  $
150  $
100  $
-  $
1  $
-  $
5  $
-  $
38  $
0  $
-  $
-  $

-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
1,563  $	-  $
150  $	-  $
100  $	-  $
-  $	-  $
14  $	-  $
-  $	-  $
1  $	-  $
-  $	-  $
38  $	-  $
0  $	-  $
-  $	-  $
-  $	-  $

-  $	800
-  $	61
-  $	250
-  $	1,677
-  $	3,200
-  $	-
-  $	-
-  $	-
-  $	-
-  $	15,625
-  $	1,500
-  $	1,000
-  $	-
-  $	65
-  $	5,000
-  $	9
-  $	650
-  $	384
-  $	1
-  $	-
-  $	175

Excess Revenues (Expenditures)	$	(5,338)  $	473  $	162  $	(276)  $	(377)  $	(370)  $	625  $	210  $	45  $	(38) $	-  $	-  $	(4,883)

Total Expenditures	$	7,785  $	2,343  $	2,350  $	2,296  $	5,719  $	2,183  $	1,852  $	2,149  $	1,856  $	1,865  $	-  $	-  $	30,398

Section 2

Hicks Ditch
Community Development District

Funding Request #23
May 14, 2024

Bill to:	TLC Pine Meadows, LLC
General Fund
Payee	FY2024

Governmental Management Services
Invoice # 19 - Management Fees - May 2024

$	1,812.50

Kutak Rock LLP
Invoice # 3382841 - General Counsel - March 2024

$	241.00

 Total:	$	2,053.50 

Please make check payable to:

Hicks Ditch Community Development District
6200 Lee Vista Blvd, Suite 300
Orlando, FL 32822

GMS-Central Florida, LLC
1001 Bradford Way
Kingston, TN 37763

Invoice

Bill To:
Hicks Ditch CDD 219 E. Livingston St. Orlando, FL 32801

Invoice #: 19
Invoice Date: 5/1/24
Due Date: 5/1/24
Case:
P.O. Number:

Description	Hours/Qty	Rate	Amount

Management Fees - May 2024
Website Administration - May 2024			 Information Technology - May 2024		1,562.50
100.00
150.00	1,562.50
100.00
150.00	

Total	$1,812.50	
Payments/Credits	$0.00	
Balance Due	$1,812.50	

RECEIVED 5/10/24

K U T A K  R O C K  L L P
TALLAHASSEE, FLORIDA
Telephone 404-222-4600
Facsimile 404-222-4654

Federal ID 47-0597598

April 30, 2024

Check Remit To: Kutak Rock LLP PO Box 30057
Omaha, NE 68103-1157

ACH/Wire Transfer Remit To:
ABA #104000016
First National Bank of Omaha
Kutak Rock LLP A/C # 24690470
Reference: Invoice No. 3382841 Client Matter No. 29823-1
Notification Email: eftgroup@kutakrock.com

Mr. George Flint Hicks Ditch CDD
c/o Governmental Management Services – Central Florida, LLC 219 East Livingston Street
Orlando, FL 32801	Invoice No. 3382841
29823-1

Re:	General Counsel
For Professional Legal Services Rendered

03/17/24	G. Lovett	0.70	175.00	Monitor legislative process relating	
				to matters impacting special districts	
03/22/24	S. Sandy	0.20	66.00	Review FY 2024 audit	

TOTAL HOURS	0.90
TOTAL FOR SERVICES RENDERED	$241.00
TOTAL CURRENT AMOUNT DUE	$241.00

RECEIVED 5/1/24

PRIVILEGED AND CONFIDENTIAL
ATTORNEY-CLIENT COMMUNICATION AND/OR WORK PRODUCT

Hicks Ditch
Community Development District

Funding Request #24
May 28, 2024

Bill to:	TLC Pine Meadows, LLC
General Fund
Payee	FY2024

Gannett Media Corp - Gannett Florida LocalIQ
Invoice # 0006333355 - Legal Advertising

$	90.58

Supervisor Fees - 05/22/24 meeting
Rocky Owen

$	215.30

 Total:	$	305.88 

Please make check payable to:

Hicks Ditch Community Development District
6200 Lee Vista Blvd, Suite 300
Orlando, FL 32822

	ACCOUNT NAME	ACCOUNT#	PAGE#	
	Hicks Ditch COD	1194543	1 of 1	
	INVOICE#	BILLING PERIOD	PAYMENT DUE DATE	
	0006333355	Mar 1- Mar 31, 2024	April 20, 2024	
	PREPAY
(Memo Info)	UNAPPLIED
(included in amt due)	TOTAL CASH AMT DUE*	
	$0.00	$0.00	$90.58	
BILLING ACCOUNT NAME AND ADDRESS	
Legal Entity: Gannett Media Corp.
Terms and Conditions: Past due accounts are subject to interest at the rate of 18% per annum or the maximum legal rate (whichever is less). Advertiser claims for a credit related to rates incorrectly invoiced or paid must be submitted in writing to Publisher within 30 days of the invoice date or the claim will be waived. Any credit towards future advertising must be used within 30 days of issuance or the credit will be forfeited.
All funds payable in US dollars.	

Hicks Ditch COD 219 E Livingston ST
Orlando, FL 32801-1508		
BILLING INQUIRIES/ADDRESS CHANGES 1-877-736-7612 or smb@ccc.gannett.com	FEDERAL ID 47-2390983	
To sign-up for E-mailed invoices and online payments please contact abgspecial@gannett.com.	

Date	Description	Amount

3/1/24

Balance Forward

$0.00

Package Advertising:

Start-End Date Order Number	Product
3/11/24 9940623	LEE Daily Commercial

Description
NOTICE OF MEETING HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT

PO Number	Package Cost
$90.58

RECEIVED 5/17/24

As an incentive for customers, we provide a discount off the total invoice cost equal to the 3.99% service fee if you pay with Cash/Check/ACH. Pay by Cash/Check/ACH and Save!

Total Cash Amount Due Service Fee 3.99%
*Cash/Check/ACH Discount
*Payment Amount by Cash/Check/ACH Payment Amount by Credit Card

$90.58
$3.61
-$3.61
$90.58
$94.19

PLEASE DETACH AND RETURN THIS PORTION WITH YOUR PAYMENT	
ACCOUNT NAME	ACCOUNT NUMBER	INVOICE NUMBER	AMOUNT PAID	
Hicks Ditch COD	1194543	0006333355		
CURRENT DUE	30 DAYS PAST DUE	60 DAYS PAST DUE	90 DAYS PAST DUE	120+ DAYS PAST DUE	UNAPPLIED PAYMENTS	TOTAL CASH AMT DUE*	
$90.58	$0.00	$0.00	$0.00	$0.00	$0.00	$90.58	
REMITTANCE ADDRESS (Include Account# & Invoice# on check)	TO PAY WITH CREDIT CARD PLEASE CALL:	TOTAL CREDIT CARD AMT DUE	

Gannett Florida LocaliQ PO Box 631244
Cincinnati, OH 45263-1244	1-877-736-7612		
		$94.19	
	
To sign up for E-mailed invoices and online payments please contact abgspecial@gannett.com	
□□□1194543□□□□□□□□□□□□□6333355□□□□905867177

LOCALiQ
The Gainesville Sun I The ledger Daily Commercial I Ocala StarBanner News Chief I Herald-Tribune

PO Box 631244 Cincinnati, OH 45263-1244

PROOF OF PUBLICATION

Hicks Ditch CDD
219 E Livingston ST Orlando FL 32801-1508

STATE OF WISCONSIN, COUNTY OF BROWN

Before the undersigned authority personally appeared, who on oath says that he or she is the Legal Coordinator of the Daily Commercial, published in Lake County, Florida; that
the attached copy of advertisement, being a Govt Public Notices, was published on the publicly accessible website of Lake County, Florida, or in a newspaper by print in the issues of, on:

03/11/2024

Affiant further says that the website or newspaper complies with alllegal requirements for publication in chapter SO, Florida Statutes.
Subscribed and sworn to before me, by the legal clerk, who is personally known to me, on 03/11/2024

Le,W	

-7  -

Notary, State of WI,nty oBfrown
--i.,

Publication Cost:	$90.58	
Order No:	9940623	
Customer No:
PO#:	1194543	

My commission expires

#of Copies: 0

THIS IS NOT AN INVOICE!
Please do not use thisformfor payment remittance.

NOTICE OF MEETING HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT
The regular meeting of the Board of
Supervisors of the Hicks Ditch Community Development District will be held on Wednesday, March 20, 2024, at 9:30 AM, at the Cooper Memorial Library, 2525 Oakley Seaver Drive, Clermont, FL 34711. The meeting Is open to the Public and will be conducted in accordance with the provisions of Florido Law for Community Development Districts. A copy Of the agenda for this meeting may be obtained from the District Manager, at 219 East Livingston Street, Orlando, FL 32801. This meeting may be contin­ ued to a date, time, and place to be specified on the record at the meet­ ing.
There may be occasions when one or more Supervisors, Staff or other individuals will participate by tele­ phone.
Pursuant to the provisions of the Americans with Disabilities Act, anv person requiring special accommo­ dations to participate in this meet­ ing is asked to advise the District Office at least fortv-elght (48) hours prior to the meeting by contacting the District Manager at (407) 841- 5524. If you are hearing or speech impaired, please contact the Florida Relay Service 1-800-955-Sno, for aid in contacting the District Office.
Each person who decides to appeal any action taken at these meetings is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upan which such appeal is to be based.
District Man.ager
Governmental  •	Management· Services - Central Florida
X 3/11/2024

KAITLYN FELTY
Notary Public State of Wisconsin

Page 1 of 1

Attendance Confirmation
for
BOARD OF SUPERVISORS

District Name:		Hicks Ditch CDD	 Board Meeting Date:		Ma 22,2024

Name	In Attendance
Please	Fee Involved Yes/No	

1	
Jason Lonas		
No	

2	
Anthony Iorio	/	
No	

3
-	
Doug Beasley	/	
No	
4	Rocky Owen	/	Yes ($200)	

5	
Shane Blanton		
Yes ($200)
·-	
--			

The supervisors present at the above referenced meeting should be compensated accordingly.

Approved for Payment:

**RETURN SIGNED DOCUMENT TO DISTRICT ACCOUNTANT**

Hicks Ditch
Community Development District

Funding Request #25
June 17, 2024

Bill to:	TLC Pine Meadows, LLC
General Fund
Payee	FY2024

Governmental Management Services
Invoice # 20 - Management Fees - June 2024

$	1,818.12

Lake Sumter State College
Invoice # A0203069HD - Rental BOS Meeting - May 2024

$	83.34

 Total:	$	1,901.46 

Please make check payable to:

Hicks Ditch Community Development District
6200 Lee Vista Blvd, Suite 300
Orlando, FL 32822

GMS-Central Florlda, LLC
1001 Bradford Way
Kingston, TN 37763

Invoice

Bill To:
Hicks Ditch COD 219 E. Livingston St. Orlando, FL 32801

Invoice #: 20
Invoice Date: 6/1/24
Due Date: 6/1/24
case:
P.O. Number:

Description	Hours/Qty	Rate	Amount

Management Fees - June 2024 Website Administration - June 2024 Information Technology - June 2024 Office Supplies
Postage Copies		1,562.50
100.00
150.00
0.03
0.64
4.95	1,562.50
100.00
150.00
0.03
0.64
4.95	

Total	$1,818.12	
Payments/Credits	$0.00	
Balance Due	$1,818.12	

C/0 Community Development District 6200 Lee Vista Blvd, Ste 300
Orlando, FL32822-5149

Attn: Brittney Brooks
Email: Bbrookes@gtn,dl.com and svanderbilt@gmscfl.com
Invoice Date: June 4, 20.24 Invoice #:	A0203069/CRNT ID#:	 X00145056
Purpose:	Monthly District Board Meetings
·.,  :1;
Due Date:	Upon Receipt
Invoice Amt: $ 500.00

r=: -[E- -[E-□-W}-(E- -

JUN O 7 2024
By

Contract:	To use the Cooper Memorial Library Meeting Space Dates of Usage: May .2.2, .2024
Split 6 ways:
Winds r Cay: $83.33 Wellness Ridge: $83.33 Lake l!arris: $83.33 Dewey Robbins: $83.33 Count? d 33: $83.34
Hie	Di h: _a:.:-1
If you have any questions regarding this invoice, please contact Michelle Heister via email - heistenn@lssc.edutsc. Please remit payment in full by due date to:
Lake-Sumter State College Attn: Financial Services 9501 US Hwy 441
Leesbu'rg, FL 34788

LEESBURG ◊ SUMTER ◊ SOUTH LAKE
9501 U.S. HIGHWAY 441 ◊ LEESBURG, FL◊	34788-8751 ◊ 352.787.3747

Hicks Ditch
Community Development District

Funding Request #26
July16,2024

Bill to:	TLC Pine Meadows, LLC

Payee

General Fund FY2024

1	Governmental Management Services
Invoice# 21- Management Fees - July 2024	$	1,826.98

---

-	·1	-•	·,	•	•  -..  -
-  -::::::	

 Total:	$	1,826.98 

Please make check payable to:

Hicks Ditch Community Development District
6200 Lee Vista Blvd, Suite 300
Orlando, FL 32822

GMS-Centraf Florida, LLC
1001 Bradford Way
Kingston, TN 37763

Invoice

Bill To:
Hicks Ditch CDD 219 E. Livingston St. Orlando, FL 32801

Invoice#: 21
Invoice Date: 7/1/24
Due Date: 7/1/24
Case:
P.O. Number:

Description	Hours/Qty	Rate	Amount

Management Fees - July 2024 Website Administration - July 2024 Information Technology - July 2024 Office Supplies
Postage Copies		1,562.50
100.00
150.00
0.06
13.52
0.90	1,562.50
100.00
150.00
0.06
13.52
0.90	
Total	$1,826.98

Payments/Credits	$0.00

Hicks Ditch
Community Development DistJ•ict

Funding Request #27
August 14,2024

Bill to:	TLC Pine Meadows, LLC

Payee

Genera] Fund FY2024

1	Governmental Management Services
Invoice# 22 - Management Fees -August 2024	$	1,813.17

1

.	,•,	.	.. ,,.	.	,	...	.	.	.	.

'	'	' I	,"	'.!	1	,, ,  :  ,',. ,, ,•	11

1
'  '	,	/	I	I

 Total:	$	1,813.17 

Please make check payable to:

Hicks Ditch Community Development District
6200 Lee Vista Blvd, Suite 300
Orlando, FL 32822

GMS-Central Florida, LLC
1001 Bradford Way
Kingston, TN 37763

Invoice

BIii To:
Hicks Ditch CDO 219 E. Livingston St. Orlando, FL 32801

Invoice #: 22
Invoice Date: 8/1/24
Due Date: 8/1/24
Case:
P.O. Number:

Descttptlon	Houm/Ofy	Rate	Amount

Manligernent Fees - August 20:Z4 -,	1o		1,562.50:	(562.50	
Webslte A<irninistra.tion -AijgU$t 2024	:,.-.,,		100.00	10(M)O	
.lnforrnationyechnotogy-Augµst2024. · 51		1 ().00	t5o.OO	
Qffice Supplt ,- 1
Postage. ·.'-Iao		0,03
o:64	Cl.03
0.64	

'		

:		
			
---	Total	$1,813.17

----::::---
	.:.._}Payments/Credits	$0.00

Section 3

Memorandum
To: Board of Supervisors From: District Management Date: August 28, 2024
RE:	HB7013 – Special Districts Performance Measures and Standards

To enhance accountability and transparency, new regulations were established for all
special districts, by the Florida Legislature, during their 2024 legislative session. Starting on October 1, 2024, or by the end of the first full fiscal year after its creation (whichever comes later), each special district must establish goals and objectives for each program and activity, as well as develop performance measures and standards to assess the achievement of these goals and objectives. Additionally, by December 1 each year (initial report due on December 1, 2025), each special district is required to publish an annual
report on its website, detailing the goals and objectives achieved, the performance measures and standards used, and any goals or objectives that were not achieved.
District Management has identified the following key categories to focus on for Fiscal Year 2025 and develop statutorily compliant goals for each:
Community Communication and Engagement
Infrastructure and Facilities Maintenance
Financial Transparency and Accountability
Additionally, special districts must provide an annual reporting form to share with the public that reflects whether the goals & objectives were met for the year. District
Management has streamlined these requirements into a single document that meets both the statutory requirements for goal/objective setting and annual reporting.
The proposed goals/objectives and the annual reporting form are attached as exhibit A to this memo. District Management recommends that the Board of Supervisors adopt these goals and objectives to maintain compliance with HB7013 and further enhance their commitment to the accountability and transparency of the District.

Exhibit A:
Goals, Objectives and Annual Reporting Form

Hicks Ditch Community Development District Performance Measures/Standards &
Annual Reporting Form
October 1, 2024 – September 30, 2025

 Community Communication and Engagement
Goal 1.1: Public Meetings Compliance
Objective: Hold at least three regular Board of Supervisor meetings per year to conduct CDD related business and discuss community needs.
Measurement: Number of public board meetings held annually as evidenced by meeting minutes and legal advertisements.
Standard: A minimum of three board meetings were held during the Fiscal Year.
Achieved: Yes ☐ No ☐

Goal 1.2: Notice of Meetings Compliance
Objective: Provide public notice of meetings in accordance with Florida Statutes, using at least two communication methods.
Measurement: Timeliness and method of meeting notices as evidenced by posting to CDD website, publishing in local newspaper and via electronic communication.
Standard: 100% of meetings were advertised per Florida statute on at least two mediums (i.e., newspaper, CDD website, electronic communications).
Achieved: Yes ☐ No ☐

Goal 1.3: Access to Records Compliance
Objective: Ensure that meeting minutes and other public records are readily available and easily accessible to the public by completing monthly CDD website checks.
Measurement: Monthly website reviews will be completed to ensure meeting minutes and other public records are up to date as evidenced by District Management’s records.
Standard: 100% of monthly website checks were completed by District Management.
Achieved: Yes ☐ No ☐

 Financial Transparency and Accountability
Goal 2.1: Annual Budget Preparation
Objective: Prepare and approve the annual proposed budget by June 15 and final budget was adopted by September 30 each year.
Measurement: Proposed budget was approved by the Board before June 15 and final budget was adopted by September 30 as evidenced by meeting minutes and budget documents listed on CDD website and/or within district records.
Standard: 100% of budget approval & adoption were completed by the statutory deadlines and posted to the CDD website.
Achieved: Yes ☐ No ☐
Goal 2.2: Financial Reports
Objective: Publish to the CDD website the most recent versions of the following documents: Annual audit, current fiscal year budget with any amendments, and most recent financials within the latest agenda package.
Measurement: Annual audit, previous years’ budgets, and financials are accessible to the public as evidenced by corresponding documents on the CDD’s website.
Standard: CDD website contains 100% of the following information: Most recent annual audit, most recent adopted/amended fiscal year budget, and most recent agenda package with updated financials.
Achieved: Yes ☐ No ☐
Goal 2.3: Annual Financial Audit
Objective: Conduct an annual independent financial audit per statutory
requirements and publish the results to the CDD website for public inspection, and transmit to the State of Florida.
Measurement: Timeliness of audit completion and publication as evidenced by meeting minutes showing board approval and annual audit is available on the CDD’s website and transmitted to the State of Florida.
Standard: Audit was completed by an independent auditing firm per statutory requirements and results were posted to the CDD website and transmitted to the State of Florida.
Achieved: Yes ☐ No ☐

Chair/Vice Chair:		Date:	 Print Name:	 
Hicks Ditch Community Development District

District Manager:		Date:	 Print Name:	 
Hicks Ditch Community Development District

Section 4

BOARD OF SUPERVISORS MEETING DATES HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2025
The Board of Supervisors of the Hicks Ditch Community Development District will hold their regular meetings for Fiscal Year 2025 on the 4th Wednesday of each month, at the Cooper Memorial Library, 2525 Oakley Seaver Drive, Clermont, Florida 34711, at 9:30 a.m., unless otherwise indicated as follows:

October 23, 2024
November 27, 2024
December 25, 2024 *Christmas Day
January 22, 2025
February 26, 2025
March 26, 2025
April 23, 2025
May 28, 2025
June 25, 2025
July 23, 2025
August 27, 2025
September 24, 2025

The meetings are open to the public and will be conducted in accordance with the provision of Florida Law for Community Development Districts. The meetings may be continued to a date, time, and place to be specified on the record at the meeting. A copy of the agenda for these meetings may be obtained from Governmental Management Services - Central Florida, LLC, 219
E. Livingston Street, Orlando, Florida 32801 or by calling (407) 841-5524.

There may be occasions when one or more Supervisors or staff will participate by telephone. Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations at this meeting because of a disability or physical impairment should contact the District Office at (407) 841-5524 at least 48 hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) / 1-800-955-8770 (Voice), for aid in contacting the District Office.
A person who decides to appeal any decision made at the meeting with respect to any matter considered at the meeting is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based.

District Manager