Hacienda Lakes Community Development District

707 Orchid Drive, Naples, FL 34102
P. 239-269-1341

BOARD OF SUPERVISORS	Monday, June 18, 2018, 9:00 a.m.	
HACIENDA LAKES COMMUNITY	4001 Tamiami Trail North, Suite 300	
DEVELOPMENT DISTRICT	Naples, Florida 34103	
I.	Roll Call.		

II.	Public Comments on Agenda Items.

III.	Organizational Matters: None to report at this time.

IV.	Administrative Matters

A. Approval of Minutes of the May 21, 2018 Meeting.	Exhibit 1

V.	Business Matters

	B. Review of Brightview Landscaping Contract and Action	Exhibit 2	
VI.	Financial Matters		
	C. FY 2016-2017 Audit Review and Acceptance	Exhibit 3	
	D. Acceptance of May 2018 Financial Statements.	Exhibit 4	

VI.	Staff Reports.

A.	Manager.

1.	Florida State Financial Disclosure Form 1 Due by June 30th.
2.	Lake Maintenance Agreement Update.
3.	Developer/CDD agreement detailing responsibilities of each entity.
4.	Landowner Meeting.
5. Budget Letter to Collier County.	Exhibit 5

B.	Legal Counsel.

C.	Engineer.

VII.  Public Comments.

VIII. Supervisors’ Requests.

IX.  Adjournment.

EXHIBIT 1.

1	HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT

2

3

Suite 100, 707 Orchid Drive

Naples, FL 34102

4
5
6  MINUTES OF MEETING
7
8	Board of Supervisors Meeting
9	Monday, May 21, 2018, 9:00 a.m.
10	4001 Tamiami Trail North, Suite 300
11	Naples, Florida 34103
12			
13			
14	Present and constituting a quorum were:		
15			
16	Maritza Aguiar	Board Member	
17	Dwight Nadeau	Board Member	
18	Tom Bothe	Board Member	
19	Bob Mulhere	Board Member (Left at 9:22 a.m.)	
20			
21	Also present were:		
22			
23	Russ Weyer	District Manager, Real Estate Econometrics, Inc.	
24	Charles Thompson	District Counsel,	
25		Coleman, Yovanovich & Koester, P.A.	
26	Terry Cole	District Engineer, Hole Montes	
27	David Torres	Hacienda Lakes of Naples, LLC (Arrived at 9:09 a.m.)	
28			
29	Absent was:		
30			
31	Clifford “Chip” Olson	Board Member	
32			
33	FIRST ORDER OF BUSINESS	Call to Order and Roll Call	
34			

35	Mr. Weyer called the meeting to order and proceeded with the roll call. The members in

36	attendance are as outlined above and a quorum was established.
37
38
39  SECOND ORDER OF BUSINESS
40

41	Mr. Weyer noted that the Florida Statutes require that there be an opportunity for Public

42	Comment. No comments were forthcoming from the public in attendance.
43
44
45

1

1	THIRD ORDER OF BUSINESS	Organizational Matters	
2			
3	A. Consideration of Resolution 2018-1: A Resolution of the Board of Supervisors of Hacienda	
4	Lakes Community Development District approving a proposed budget for Fiscal Year 2018-	
5	2019 and setting a public hearing thereon pursuant to Florida Law.	
6			

7	Mr. Weyer set the date as Monday, August 20, 2018 since that is our regularly scheduled

8	meeting date and it will be held again out at the Esplanade clubhouse. He noted that the

9	budget is increasing about 17% this coming year and reminded the Board that we were setting

10	the cap for this budget and that we can adjust the line items up until the next meeting but

11	can’t exceed the amount we were establishing with this resolution today.
12

13	Mr. Bothe asked if the District could hold the meeting at the current office. Mr. Weyer noted

14	that logistically it is more practical to hold the meeting where it is easier for the residents to

15	attend.
16

17	Mr. Weyer then went line item by line item and addressed the changes. He pointed out the

18	addition of the accounting firm as the only increase in administrative costs. The landscape

19	maintenance is going up due to the front entryway being added to the maintenance schedule.

20	The landscape replacement went up due to the replacement of the trees, etc., due to Irma.

21	Mulching has increased due to the front entryway being added. A sod replacement line item

22	has been added as we start replacing sod.
23

24	The lake maintenance line item was also increase as the Sapphire Cove (Parcel N) lake will

25	be put into service this coming fiscal year. There is also a line item for a new operations and

26	maintenance assessment methodology as the product mix is changing.
27

28	Mr. Bothe asked where the commercial to the south of the entryway is noted in the budget.

29	Mr. Weyer noted that it was included in the retail-community, medical office and senior

30	housing categories.
31
32	On MOTION by Mr. Mulhere and seconded by Mr. Nadeau, with all in favor, the Board of 

33	Supervisors of the Hacienda Lakes Community Development District approved Resolution 2018-1

34  approving fiscal year 2018-2019 budget and setting a hear date.

35			
36	FOURTH ORDER OF BUSINESS	Administrative Matters	
37			
38	A. Approval of Minutes of the April 16, 2018 Meeting		
39			
40	Mr. Weyer asked for questions or comments. There were none.	
41			
42	On MOTION by Mr. Nadeau and seconded by Mr. Bothe, with all in favor, the Board of Supervisors 

43	of the Hacienda Lakes Community Development District approved the April 16, 2018 Board
44  Meeting Minutes.

45
46

2

1  B. Acceptance of April 2018 Financial Statements
2

3	Mr. Weyer presented the District’s financial statements through April 30, 2018.  He noted

4	that the statements did not change much from the previous meeting last month. There is

5	$122,000 plus in the account which is enough to get us through the rest of the year. Mr.

6	Weyer pointed out that the balance sheet was included but is not up to date since it needs to

7	reflect the audit and that will happen when the audit firm sends the year end journal entries.	
8		
9	There were no further questions or comments.	
10		
11	On MOTION by Mr. Bothe and seconded by Ms. Aguiar, with all in favor, the Board of Supervisors	
12	of the Hacienda Lakes Community Development District accepted the District’s Financial	
13	Statements through April 30, 2018.	

14
15  C. Adoption of Revised Accounting Procedures
16

17	Mr. Weyer pointed out that the auditing firm requested the addition of wording to cover the

18	journal entries that are made monthly to the District financials. He highlighted the section

19	that was added.
20
21	On MOTION by Ms. Aguira and seconded by Mr. Nadeau, with all in favor, the Board of 
22	Supervisors of the Hacienda Lakes Community Development District adopted the revised District

23  Accounting Procedures document.

24			
25			
26	FIFTH ORDER OF BUSINESS	Business Matters	
27			
28	None to be considered at this time.		
29			
30	SIXTH ORDER OF BUSINESS	Staff Reports	
31			
32	Manager’s Report –		
33			

34	1. The Sable Palm Road Culverts are cleaned. The pipes were fine and most of the boxes

35	didn’t need cleaning. Mr. Cole said that they only need cleaning if there is more than three

36	inches of silt in the bottom. Mr. Weyer showed photos of the cleaning. He said that we will

37	check them annually but they may not need cleaning until every three years or so. Mr.

38	Weyer noted that the total cost was around $7,500 which is 50% over budget due to the

39	weed cleaning and pest control additions.
40

41	2. Mr. Weyer reported that the landscaping issues are still being addressed. He noted that the

42	irrigation timer went bad and is now fixed. The entry and monument turnover are still on

43	hold pending the completion of the updating work. The bowls are in place at the entry

44	monuments and we want to make sure they add color to them. Mr. Bothe asked if there is

45	an out with the landscaper’s contract.
46

3

1	3. Azure and Esplanade are changing their site plans and product mixes. Azure is reducing

2	their unit count down and are changing their unit mix. Once the plat is recorded then the

3	true up will need to be made. Esplanade is also changing their product mix but their unit

4	count is staying the same. Mr. Weyer will take a look at their plan to see if a true up payment

5	will be required at the time of plat recording.	
6		

7	4. Mr. Weyer said that the last piece of audit information request has been sent to the auditors

8	and that we should have the draft to review at the District’s June meeting.	
9		

10	5. Mr. Weyer presented the Joint Legislative Response letter to the Board and said that he had

11	not heard anything back from the committee.
12

13	6. There are now 200 registered voters within the Hacienda Lakes Community Development

14	District boundaries. Mr. Bothe asked if the 200 triggers an election and Mr. Torres said no

15	but that there will most likely be an election this November as some terms are up.

16		
17	7. There is only one landowner who is delinquent on their taxes and related District	
18	assessments. It will most likely go to a tax sale.	
19		
20		
21	Attorney’s Report –	
22		
23	Mr. Thompson had nothing further to report.	
24		
25	Engineer’s Report –	
26		

27	Mr. Cole is going to check some of the catch basins and the whole system internally in the

28	project. He had nothing further to report.
29			
30	SEVENTH ORDER OF BUSINESS	Public Comments	
31			
32	There was no public comment.		
33			
34	EIGHTH ORDER OF BUSINESS	Supervisors’ Requests	
35			
36	There were no Supervisor requests.		
37			
38			
39	EIGHTH ORDER OF BUSINESS	Adjournment	
40			
41			
42	On MOTION by Ms. Aguiar and seconded by Mr. Nadeau, with all in favor, the meeting of the	
43	Board of Supervisors of the Hacienda Lakes Community Development District was adjourned.	
44			
45
46

4

1			
2			
3			
4	______________________________	_______________________________	
5	Secretary/Assistant Secretary	Chairperson/Vice-Chairperson	
6			
7			
8			
9	______________________________	_______________________________	
10	Print Name	Print Name	
11			

5

EXHIBIT 2.

August  3,2015

16335 Old US41

Hacienda	Lakes  COD

c/o Real Estate Econometrics, Inc. Suite 100
707 Orchid  Drive

Naples,  FL 34102

Attn:	Russ Weyer

RE: Landscape   management   agreement

Russ:

Ft. Myers. FL 33912 tel. 239.267,8707 fax: 239.267,6388

\\ ww.yalkvcrCSLcom

www. brickmangroup.corn

We appreciate the opportunity to be your service provider of choice. BrickmanNalleyCrest Landscape Maintenance, Inc. is committed to fulfilling the specific landscape needs of your property as outlined in the enclosed Landscape Management Agreement.

All the terms of this Landscape Management Agreement including Exhibit A hereto, are acknowledged and agreed to upon execution of the signature page at the end of Exhibit A. This agreement shall be in effect for the period of October 1, 2015 to September 30, 2017. Unless terminated pursuant to Section III of the General Terms and Conditions at the expiration of the term, this agreement shall be automatically extended on a month to month basis. We will continue to emphasize the items listed with our maintenance service to continue to improve the property and our relationship .

• Communication

Our goal is to continuously improve Hacienda Lakes COD through open communication, devotion to detail and proactive recommendations. Regular property walks with your assigned Account Manager or Production Manager will continue so we are continually aware of your priorities .

• Professional  Service

You will continue have the best resources in the industry with expertise in horticulture, agronomics, design, irrigation, tree care, and storm preparation. We will be your eyes on the ground to watch for problems as they arise and to offer creative solutions that achieve your goals while providing the safest, most cost-efficient and aesthetically appealing landscape possible.

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The prices stated under this Agreement are binding unless Hacienda Lakes COO fails to accept this agreement within 30 days from the date on which it was submitted by BrickmanNalleyCrest Landscape Maintenance, Inc. or unless the scope of services changes.

It is a pleasure to be working with you. Please do not hesitate to contact me if you have any questions.

Sincerely,

BrickmanNalleyCrest	Landscape Maintenance

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Associate	Branch  Manager

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COMMUNICATION

CATERED TO YOUR STYLE

To ensure a successful partnership, effective communication is one of our top priorities. We have found the best way to keep our customers highly satisfied is to always make sure we understand your current needs and priorities. We believe strongly in being proactive in our communication and have designed several forms and checklists our customers find valuable for staying apprised of their landscape status and maintenance activity. Additionally, we are equipped to respond quickly to new and unexpected needs as they arise.

PROACTIVE COMMUNICATION

•	Our Account Manager will walk your property with you to continually be aware of your priorities.
•	Supply staffing, irrigation and horticultural schedules weekly

•	Report our daily maintenance  activities as often as you prefer

•	Provide digital photos to verify technical issues, damage and plant and tree health

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OUR EYE

IS ALWAYS ON

QUALITY AND

CONTINUOUS  IMPROVEMENT

Our team management will review your property periodically to ensure our crew is meeting quality standards and your expectations. This internal review process is an important element of our quality assurance and continuous improvement programs. The crew takes these reports very seriously as they impact their compensation.

YOUR COMPLETE SATISFACTION 15 OUR #1 GOAL

We judge our success by the complete satisfaction of our customers. Every member of your landscape team will strive to earn your trust and loyalty through a proactive relationship in which we consistently perform work of the highest quality with unmatched responsiveness.

To meet this goal, we continually collect feedback through a comprehensive customer satisfaction program. We use the valuable insight gained through our survey program to determine system improvements and guide the content of our employee training program.

Every customer we partner with has the opportunity to formally evaluate our work product, service and relationship at least once a year. Yourfeedback is important to us. We pay attention to the survey results and follow-up with a summary of each one to learn how we can improve.

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TRAINING  YOUR  TEAM

TO EXCEED  YOUR

EXPECT ATIONS

We understand that well trained and tenured team members provide outstanding quality and customer service. To that result, our Crew Member training program is designed around BrickmanNalleyCrest's core values as depicted below. Every Crew Member on your team is required to complete our certification program which prepares your crew with the skills to perform quality work, safely and to your complete satisfaction.

Crew Members are offered training to progress along a career track within BrickmanNalleyCrest. We have found that our career progression opportunities and training motivates our team members to perform at their peak and remain committed to our company and our customers.

A SAFE WORKPLACE  IS OUR PRIORITY

The safety and well being of our customers, your property visitors, the general public, and our employees is of paramount importance to our operation. Below are measures we employ to maintain a safe working environment on and off your property.

PRESERVING  A SAFE	ENVIRONMENT	CREW SAFETY		
•	Criminal background	checks	•	Extensive driver	safety certification  program	
•	Initial and random	driving record checks	•	New hire safety	orientation	
•	Initial and random	drug/alcohol  screenings	•	Certification  required to use all power	
•	Fully uniformed crews with safety vests		equipment		

•	BrickmanNalleyCrest  logo clearly displayed•  Reward system for safety compliance

on vehicles	•	Mandatory weekly field crew safety meetings	
•  "How's my driving?" stickers on vehicles	•	Weekly management  safety calls	

•	Required use of cones to demark safety zone

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CONSISTENCY  IN QUALITY

EFFICIENTLY  DELIVERED

Our goal is to consistently offer the best value in the marketplace by providing unmatched service, a customized approach focused on your specific priorities and a well maintained landscape you and the community are proud of - all while meeting your predetermined budget parameters. Doing this requires operational excellence. The operational practices that allow us to consistently meet our customers' expectations include:

• The industry's top talent - When selecting teams for each property, we match the specific landscape needs with our most appropriately experienced talent. At BrickmanNalleyCrest, we have a deep pool of talent. We recruit from the top horticultural and landscape schools in the country and have an all encompassing training program that ensures our crews perform at their peak year round.

• State-of-the-art equipment - Our crews operate high quality and well maintained equipment and are trained to use the most effective tool for each task on your property. The result - a better end product achieved with greater efficiency and fewer injuries.

• Horticultural excellence - Plant material looks and performs its best when maintained properly. Our horticultural experts understand the science of landscape maintenance and will ensure the plant material on your property receives the proper care for each season and as unexpected circumstances arise.

• Innovation - Lead or follow; we choose to lead. BrickmanNaileyCrest seeks out and tests the latest technology so we can help our customers reduce operating costs and benefit from greater efficiencies and have all around healthier and higher performing plant material.

• Systematic operations - We deploy BrickmanNalleyCrest's Production System to ensure our crews focus on your priorities and important details are not overlooked. In our process, we design the most effective path of motion for the work to be performed, specify the equipment to be used and supply our crew with detailed site plans that show their daily, weekly and monthly activities.

•	Continuous improvement - We routinely evaluate for safety, quality and effectiveness in a persistent effort to be better today than we were yesterday.

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EXPERIENCE  THE

DIFFERENCE  IN QUALITY

We strive to be the landscape service provider of choice in Southwest Florida. In large part, our ability to offer unmatched quality to our customers has been attributed to the tools and systems we have developed over our 65+year history. The primary systems that support our quality standards include:

COMMUNICATION	QUALITY		CUSTOMER	
SYSTEMS		EVALUATIONS	SATISF ACTION	
Proactive	communication	Management	led	Empirically	measured	
that  allows	us to be highly	evaluations	that ensure	customer	satisfaction  that	
responsive	to		our internal	quality	is taken  seriously.  Our	
emergencies,	special	standards  are met and our	goal  is 100%  satisfied	
requests  and	acts of	employees	can achieve	customers		
nature			continuous	improvement			

TRAINING PROGRAMS

Intensive skills, customer relations, and quality training ensure our team can consistently exceed your expectations

SAFETY STANDARDS

Training and incentive programs ensure your property remains hazard free and our employees can return home safely.

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A LANDSCAPE  PLAN

DESIGNED FOR YOUR PROPERTY

Every property is different and thus has a unique set of maintenance needs. We evaluated Hacienda Lakes CDD and took into consideration the issues you identified to create the maintenance plan below designed to keep your property looking its best year-round. We will continue to maintain the property per the schedule below.

Mow

--Strin -Trim~-- Hard edg~_
Bed edge __ Back ack blowing
Fertilizer	. --
~--~~~	-

.Post-emergent We~d 9,ontrol Disease Control

,Insect Control

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•	_  ~_.   _ as needed
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_0-		_ 2		
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!lit		as needed		

			•			
;Debris!	Litter Removal	-    -		
	- -	-	STRAW			
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-	-	--				
Install Pine Straw (addl service)

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Hacienda  Lakes  COD	8-3-15	

PRACTICAL SPECIFICATIONS FOR CONTRACT LANDSCAPE MANAGEMENT

SCOPE OF WORK:

Contractor shall furnish all horticultural supervision, labor, material, equipment and transportation required to maintain the landscape throughout the contract period, as specified herein.

lAWN  CARE:

Mowing  and  Edging:

Lawns shall be mowed weekly during the active growing season and as needed during other seasons, no less than every other week. During extended rainy or dry periods mowing will take place as conditions dictate. Mowing height will be 3.5"-4.5" for St. Augustine floratam turf, 2.5"-4" for bahia turf and zoysia turf.

Clippings shall not be caught and removed from lawn area unless they are lying in swaths which may damage the lawn.

Turf edges on hard surfaces (concrete, asphalt, pavers) will be trimmed during each mowing, Bed edges and tree rings will be trimmed every other mowing.

Fe rtiliza tion:

Lawns shall be fertilized as warranted with a commercial fertilizer, three times per year. Liquid fertilizers will be used when necessary to maintain good turf color.

Disease  control:

Disease control is maintained through proper fertilization, mowing and water management. In the event that disease problems occur Contractor will use treatments to stop or slow progression of disease. This program does not include the prevention of disease with weekly or monthly applications of disease control products although such protection is available at substantial additional cost.

Insect  control:

Contractor will provide control of turf damaging insects using Federal and State registered insect control products as needed to prevent or mitigate turf damage. These treatments do not include the prevention of fire ant infestation which is available at added cost. Disease caused by infestation of nematodes (microscopic round worms that feed on roots) is not included. Currently, there is no effective nematode control product registered for use on landscapes, Contractor will recommend additional treatments and procedures to minimize damage should nematodes become a problem. These treatments will be provided at additional cost.

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Weed control:

Contractor will use proper fertilization. mowing and watering practices to promote the growth of weed resistant turf. Additionally, applications of pre and post emergence weed controls will be applied at times to control weeds without damaging desirable turf, 4 times per year. Recent changes in Federal regulations have resulted in our loss of ability to selectively control some weeds including crabgrass when they are present in St Augustine. The only control of these weeds is to treat infested turf with non selective products such as Roundup.

GROUND  COVER AREA/SHRUB  AREAS:

Edging:

Edge ground cover as needed to keep within bounds and away from obstacles.

Pruning:

Shrubs shall be pruned only as necessary to maintain the natural form of the plant, to maintain growth within space limitations, and to eliminate damage or diseased wood. This excludes pruning necessitated by storm damage, disease, neglected overgrowth or winterkill. Pruning will be performed more frequently during heavy growing season. Quick growing shrubs such as jasmine and bougainvillea are pruned 10 times per year. Ornamental grasses are pruned 3 times per year. Pruning will be performed at optimum times to produce blooms and healthy growth. Cut backs are performed on selected shrubs every 2-3 years.

Weed Control:

Keep beds reasonably free of broad leaf or grassy weeds, preferably with pre-emergent and/or selective post-emergent/contact herbicides. Herbicides will be applied 18 times per year in bedding areas and in paved areas for crack and crevice weeds. The chosen chemical will be recommended and legally approved for the specific weed problem.

Weeds over 3" in height shall be removed by hand.

Fertilization:

Apply fertilizer as warranted to maintain optimum health of plant material. The applications will be dependent on the type of nitrogen used and the type of plant material. Complete granular applications will be performed two times per year. Liquid fertilizers will be utilized if necessary to maintain healthy plant material.

Fungicide. insecticide applications:

Apply recommended, legally approved fungicides and insecticides to ornamental plants to control disease-causing and insect damaging pests if warranted.

Control of imported pests:

Certain locations in the United States have a record of accidental introduction of pests from other countries. These imported pests can be very damaging and difficult or impossible to control with available products. Where such pests become a problem Contractor will recommend the most cost effective alternatives for pest mitigation. Such recommendations may include plant replacement or intensified treatment schedules that may require additional cost to the customer. Ficus white fly treatments are not part of the base maintenance and can be performed as an additional service.
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TREE CARE:

Pruning:

Height limitation for tree pruning covered in the specification is 12 feet. On trees over 12 feet in height only low-hanging branches that present a hazard to pedestrian or vehicular traffic will be raised as part of contract. Structurl pruning of canopies can be performed as an additional service.

Staking:

Stakes are to be inspected and adjusted or removed as necessary.

Palm Pruning:

Dead or dying fronds and seed pods should be removed annually. It is best to leave healthy fronds when possible and defer to specific pruning methods and finished cuts per palm type. Height limitation for palm pruning is 14 feet. Broken palm fronds and seed pods that fall within this specification will be removed on a regular basis. On palms over 14 feet height. annual pruning can be performed as an additional service.

Control of imported pests:

Certain locations in the United States have a record of accidental introduction of pests from other countries. These imported pests can be very damaging and difficult or impossible to control with available products. Where such pests become a problem Contractor will recommend the most cost effective alternatives for pest mitigation. Such recommendations may include plant replacement or intensified treatment schedules that may require additional cost to the customer. Rugose spiraling white fly treatments are not part of the base maintenance and can be performed as an additional service.

MULCHED AREA:

Mulched areas will be inspected on our days of service. Weeds and grasses shall be controlled with recommended, legally approved herbicides as noted above. Annual application of pine straw in bedding areas and tree rings is recommended and can be provided as an additional service.

IRRIGATION SYSTEM:

System will be inspected each month by manually operating valves through the irrigation controllers. Minor adjustments to irrigation heads will be performed during inspection. Minor repairs, up to a pre-determined rate, will be performed during monthly inspection upon written approval. Faulty equipment, vandalism or accidental damage caused by others shall be reported promptly to owner. Cost of labor and material to perform repair is an extra and shall be paid for by the owner upon authorization.

Watering shall be scheduled with automatic controllers to supply quantities and frequencies consistent with seasonal requirements of the plant materials in the landscape. In some circumstances, water scheduling may be limited by local watering restrictions. Where practical, watering shall be done at night or early morning if the system is automatic, unless notified otherwise by the owner.

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Any damages to the irrigation system caused by the Contractor while carrying out maintenance operations shall be repaired without charge. Where practical, repairs shall be made within one watering period.

Whenever possible, owner's representative shall be instructed on how to turn off system in case of emergency. Our office is to be advised at once or by next business day.

If the Contractor is required to make emergency repairs or adjustments on other than regularly scheduled visits, a minimum charge of $45.00 emergency calls will apply.

DEBRIS  CLEANUP:

All landscape areas shall be inspected on days of service and excess debris removed. Gardening debris, generated from our work, shall be removed from paved areas on days of service. Leaf removal is performed with the sectional pruning plan.

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COMPETITIVE  PRICING

THAT FITS YOUR BUDGET

We are committed to fulfilling the specific landscape needs of Hacienda Lakes CDD while providing the service you expect at a price point that fits your budget. BrickmanNalleyCrest Landscape Maintenance will provide the following competitive pricing per specifications as noted in our proposal.

Landscape	Maintenance-October	1, 2015-September	30, 2016	
Service	Monthly price	Annual price	
Base	maintenance	$5,975.00	$71,700.00	

Landscape	Maintenance-October	1, 2016-September	30, 2017	
Service	Monthly price	Annual price	
Base	maintenance	$6,095.00	$73,140.00	

Our base maintenance price includes the mowing and pruning activities as well as the fertilization, disease/pest control, weekly debris removal and weed control. Irrigation inspections are performed as detailed in the practical specifications.

Pine straw applications, palm pruning and annual color installations are performed as additional services.

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EXHIBIT A

GENERAL TERMS AND CONDITIONS

I.	Contractor Responsibility

	The contractor shall recognize and perform in accordance with the written terms, specifications and drawings, contained or referred to herein. Contractor reserves the
	right to renegotiate the contract when price or scope of work is affected by changes to any local, state, or federal law, regulation or ordinance that goes into effect after the Agreement is signed.

-	Work Force

	All employees shall be competent and qualified, and shall be U.S. citizens or legal

residents, and authorized to work in the United States.

-	Materials

	All materials shall conform to bid specifications. Contractor will meet all Agricultural licensing and reporting requirements.
-	Product Control & Pest Control

	Contractor shall be responsible for selecting control materials from a list of products approved for specific use by the US Environmental Protection Agency and affirmed for that use by the appropriate State or Tribal Government. Control products are approved on crop (plant species) and site (Residential Sports or Golf) specific bases. As for any uncontrollable pest, where no effective product has been discovered and approved for the specific plant and site use, or where approval of effective control

	products have been cancelled by regulating authorities, the Contractor will not be accountable for the control or repair of any damage associated with the uncontrollable pest. Furthermore, where new pest problems develop that are not controllable by the reasonable legal use of available approved pest control materials, the Contractor will not be responsible for control or repair of damage caused by such uncontrollable pests.

-	Bio-Hazards

	Contractor shall not be responsible for policing, picking up, removing or disposing of certain materials that may be bio-hazards on the Owner/Client's property. This

	includes, but is not limited to, items such as hypodermic needles (Sharps (needles) will not be handled by the Contractor's employees at any time), condoms, feminine hygiene products, clothing or materials used in the process of cleaning up bodily fluids. Contractor shall only be obligated to report/communicate any observations of

potential bio-hazards to the Owner/Client for their appropriate removal by others, unless previously arranged by the Owner/Client and Contractor.

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-	License  and Permits

	Contractor to maintain a Landscape Contractor's license, if so required by State or local law, and will comply with all other license and permit requirements of the City, State and Federal Governments, as well as all other requirements of law.

-	Taxes

	Contractor agrees to pay taxes applicable to its work under this contract, including sales tax on material supplied where applicable.

-	Insurance

	Contractor agrees to provide General Liability Insurance, Automotive Liability Insurance, Worker's Compensation Insurance, and any other insurance required by law or Owner/Client.

-	Liability

	It is understood and agreed that the Contractor is not liable for any damage of any kind whatsoever that is not caused by the negligence of the Contractor, its agents or employees.

-	Subcontracts

	Contractor reserves the right to hire qualified subcontractors to perform specialized functions or work requiring specialized equipment.

-	Invoicing

	Contractor will submit monthly service invoices for the amount set forth under the prices and terms shown in Section III of this Agreement. Any services rendered, that are in addition to or beyond the scope of work required by this Agreement shall be separately billed.

II.	Owners/Client  Responsibility

-	Utilities

	All utilities shall be provided by the Owner/Client. Access to Jobsite
	Owner/Client shall furnish access to all parts of jobsite where Contractor is to perform work as required by this Agreement or other functions related thereto, during normal business hours and other reasonable periods of time, and in the case of after hours emergencies.

	Payment

	Owner/Client shall review invoices submitted by Contractor and payment shall be due 15 days following the date of the invoice and delinquent if not paid by that date.

Contractor may cancel Agreement by giving 10 business days written notice for nonpayment, after the payment is delinquent.

Notice  of Defect

Owner/Client shall give Contractor at least 10 business days written notice to correct any problem or defect discovered in the performance of the work required under this

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Agreement. Contractor will not accept any deduction or offset unless such written notice is given and Contractor agrees to the offset.

III.	Other Terms:

-	Drought

	Drought in the recent growing seasons coupled with changes in insect species and control products available for use has made guaranteed insect control more difficult and more dependent on timely and consistent irrigations.

The Contractor will notify the Owner/Client representative in writing if either or both of the conditions listed below have not been met.

The two (2) following irrigation conditions are required by the Owner/Client:

1.	Irrigation is made available at the time of treatment to water the lawn as directed on the product label. (State regulations supersede local water restrictions and
	allow for the irrigation to comply with label recommendation even at times and on days when local regulation prohibits irrigation.)
2.	Sufficient and suitable irrigation water is available on a timely basis to prevent drought damage of turfgrasses. Deficiencies arising from any of the following
	conditions are grounds to terminate any plant replacement: a. Water bans created by state or local rules.

b.	Failure of irrigation systems beyond Contractor's  Control

c.	Failure of Owner/Clients or homeowners to maintain irrigation systems in effective working condition.
d.	Refusal to irrigate for needs of plants.

e.	Power failures beyond Contractor's  control.

f.  Unavailability of sufficient and suitable water for irrigation of any reason.

-	Assignment

	The Owner/Client and the Contractor respectively, bind themselves, their partners, successors, assignees and legal representative to the other party with respect to all covenants of this Agreement. Neither the Owner/Client nor the Contractor shall

	assign or transfer any interest in this Agreement without the written consent of the other party.

-	Termination

	This agreement may be terminated by either party with or without cause, upon thirty (30) days written notice to the other party. This agreement may be terminated by the

Owner/Client for non-performance by Contractor, upon thirty (30) days written notice. This agreement may be terminated by Contractor for non-payment by Owner/Client, upon ten (10) business days written notice as stated above. Either party shall be entitled to cure any deficiencies of performance or payment within ten (10) business days of being notified of deficiency(s). If the Owner/Client makes a payment in full

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within ten (10) business days of receipt of the written notice, the grounds for termination shall be deemed cured. If Contractor corrects the deficiency identified in the written notice within ten (10) business days of receipt of the notice, or if the deficiency is of such a nature that it cannot reasonably be corrected within ten (10) business days and the Contractor commences a good faith effort to correct the deficiency within ten (10) business days of receipt of notice, the grounds for the termination shall be deemed cured.

-	Payment

All labor necessary to accomplish the work outlined in this agreement shall be provided for the sum of Seventy One Thousand Seven Hundred Dollars ($71,700.00) per year payable in 12 monthly installments of Five Thousand Nine Hundred Seventy Five Dollars ($5,975.00). Billing will begin October 1, 2015 and ending September 30,2016. The work outlined in this agreement shall be provided a second year at the sum of Seventy Three Thousand One Hundred Forty Dollars ($73,140.00) per year payable in 12 monthly installments of Six Thousand Ninety Five Dollars ($6,095.00). Billing will begin October 1,2016 and ending September 30,2017. Unless terminated pursuant to Section III of the General Terms and Conditions, at the expiration of the initial term, this Agreement shall be automatically extended on a Month to Month basis.

You will receive your first invoice within 30 days of our service commencement date, and can expect to receive them monthly thereafter by the 10th of each month. All billings are due and payable 15 days following the date of the invoice. A service charge of 1.5% per month will be added to all balances not paid within 30 days of invoice. This represents an annual rate of 18%. Should it become necessary for ValleyCrest Landscape Maintenance to pursue collections of outstanding invoices, Hacienda Lakes COD, agrees to pay attorney's fees, court costs, interest and all expenses incurred in said collections.

For the convenience of Owner/Client only, the monthly charge under this agreement is an average of the total charge for all work to be performed under the agreement divided by the number of calendar months included in the payment period of the agreement. In the event this agreement is terminated early by either party, the Contractor shall be entitled to recover his unrecovered costs incurred through the date of termination, including a reasonable amount of overhead and profit, and any amount in excess of the monthly charges paid by the Owner/Client through the date of termination. This is because substantial portions of the work for the year, may be performed in the early months of each year of the agreement including potentially significant mobilization costs in start-up and the cost of the work will not be fully recovered by the Contractor until all monthly payments under the agreement have been received.

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I have read, understand and agree to the foregoing agreement, including the general terms and conditions, and hereby accept it on behalf of the Owner/Client.

Client Approval

Client/Owner:			Contractor:	
Hacienda	Lakes CDD c/o Real Estate	ValleyCrest  Landscape Maintenance,  Inc.	
Econometrics,	Inc., Suite 100	16335 Old US 41	
707 Orchid Drive	Naples, FL 34102	Fort Myers, FL 33912	
By:~(Si9i1ature			By:	
				Signature	
				VCLM Branch Manager	
Date:	'1	{~	1(.. 1)-	Date:	

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End

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EXHIBIT 3.

HACIENDA LAKES

COMMUNITY DEVELOPMENT DISTRICT

COLLIER COUNTY, FLORIDA

FINANCIAL REPORT

FOR THE FISCAL YEAR ENDED

SEPTEMBER 30, 2017

DRAFT

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT

COLLIER COUNTY, FLORIDA

TABLE OF CONTENTS

	Page		
INDEPENDENT AUDITOR’S REPORT	1-2		
MANAGEMENT’S DISCUSSION AND ANALYSIS	3-6		
BASIC FINANCIAL STATEMENTS			
Government-Wide Financial Statements:			
Statement of Net Position	7		
Statement of Activities	8		
Fund Financial Statements:			
Balance Sheet – Governmental Funds	9		
Reconciliation of the Balance Sheet – Governmental Funds			
to the Statement of Net Position	10		
Statement of Revenues, Expenditures and Changes in Fund Balances –			
Governmental Funds	11		
Reconciliation of the Statement of Revenues, Expenditures and Changes in			
Fund Balances of Governmental Funds to the Statement of Activities	12		
Notes to the Financial Statements	13-20		
REQUIRED SUPPLEMENTARY INFORMATION			
Schedule of Revenues, Expenditures and Changes in Fund Balance –			
Budget and Actual – General Fund	21		
Notes to Required Supplementary Information	22		
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	23-24		
GOVERNMENT AUDITING STANDARDS			
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	25		
MANAGEMENT LETTER REQUIRED BY CHAPTER 10.550 OF THE RULES			
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	26-27		

DRAFT

INDEPENDENT AUDITOR’S REPORT

To the Board of Supervisors

Hacienda Lakes Community Development District

Collier County, Florida

Report on the Financial Statements

We have audited the accompanying financial statements of the governmental activities and each major fund of Hacienda Lakes Community Development District, Collier County, Florida (“District”) as of and for the fiscal year ended September 30, 2017, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.

Management’s Responsibility for the Financial Statements

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

Auditor’s Responsibility

Our responsibility is to express opinions on these financial statements based on our audit. We conducted our

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

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

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

Opinions

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the District as of September 30, 2017, 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.

DRAFT

Other Matters

Required Supplementary Information

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

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated xxxxxxxxx, 2018, 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 to describe the scope of our testing of internal control over financial reporting and compliance

and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control over financial reporting and compliance.

Report on Other Legal and Regulatory Requirements

We have also issued our report dated xxxxxxxxx, 2018, on our consideration of the District’s compliance with the requirements of Section 218.415, Florida Statutes, as required by Rule 10.556(10) of the Auditor General of the State of Florida. The purpose of that report is to provide an opinion based on our examination conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.

xxxxxxxxx, 2018

DRAFT

2

MANAGEMENT’S DISCUSSION AND ANALYSIS

Our discussion and analysis of Hacienda Lakes Community Development District, Collier County, Florida (“District”) provides a narrative overview of the District’s financial activities for the fiscal year ended September 30, 2017. 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.

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 ($2,617,418).

•	The change in the District’s total net position in comparison with the prior fiscal year was ($553,372), a decrease. 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, 2017, the District’s governmental funds reported combined ending fund balances of $1,813,569, a decrease of ($2,933,909) in comparison with the prior fiscal year. A portion of the fund balance is nonspendable for deposits and prepaids, restricted for debt service and capital projects and the remainder is unassigned fund balance which is available for spending at the District’s discretion.

OVERVIEW OF FINANCIAL STATEMENTS

This discussion and analysis are intended to serve as the introduction to the District’s basic 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 special assessments. The District does not have any business-type activities. The governmental activities of the District include the general government (management) and maintenance functions.

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.

DRAFT

3

OVERVIEW OF FINANCIAL STATEMENTS (Continued)

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 outflow 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 balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The District maintains three 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, debt service and capital projects funds. All funds are considered to be 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,				
			2017		2016	
Current and other assets	$	2,022,683	$	5,293,699	
Capital assets, net of depreciation	16,146,177		14,000,199	
Total assets			18,168,860		19,293,898	
Current liabilities			666,031		904,585	
Long-term liabilities			20,120,247		20,453,359	
Total liabilities			20,786,278		21,357,944	
Net position						
Net investment in capital assets	(3,974,070)		(6,453,160)	
Restricted			1,344,528		4,381,083	
Unrestricted			12,124		8,031	
Total net position	$	(2,617,418)	$	(2,064,046)	
						
The District’s net position reflects its investment in capital assets (e.g. land, land improvements, and infrastructure) less any related debt used to acquire those assets that is still outstanding. These assets are used to provide services to residents; consequently, these assets are not available for future spending. Although the District’s investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves DRAFTcannotbeused to liquidate these liabilities.

4

GOVERNMENT-WIDE FINANCIAL ANALYSIS (Continued)

The restricted portion of the District’s net position represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net position may be used to meet the District’s other obligations.

Key elements of the change in net position are reflected in the following table:

CHANGES IN NET POSITION			
FOR THE FISCAL YEAR ENDED SEPTEMBER 30,		
		2017		2016	
Revenues:					
Program revenues					
Charges for services	$	1,225,383	$	1,042,004	
Operating grants and contributions		4,405		693	
Capital grants and contributions		2,580		37	
General revenues		4,648		90,480	
Total revenues		1,237,016		1,133,214	
Expenses:					
General government		102,234		89,081	
Maintenance and operations		601,351		124,472	
Interest		1,086,803		1,049,319	
Bond issuance costs		-		318,137	
Conveyances of infrastructure		-		939,095	
Total expenses		1,790,388		2,520,104	
Change in net position		(553,372)		(1,386,890)	
Net position, beginning		(2,064,046)		(677,156)	
Net position, ending	$	(2,617,418)	$	(2,064,046)	

As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year ended September 30, 2017 was $1,790,388. The costs of the District’s activities were primarily funded by program revenues. Program revenues, comprised primarily of assessments, increased during the fiscal year as a result of an increase in assessments for debt service. In total, expenses, including depreciation, decreased from the prior fiscal year, the majority of the decrease was the result of a decrease in conveyances to other governments and decrease in bond issuance costs.

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 fiscal year ended September 30, 2017.

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets

At September 30, 2017, the District had $16,612,850 invested in capital assets for its governmental activities. In the government-wide financial statements depreciation of $466,673 has been taken, which resulted in a net book value of $16,146,177. More detailed information

Capital Debt

At September 30, 2017, the District had $20,175,000 in Bonds outstanding for its governmental activities.
More detailed information about the District’s capital debt is presented in the notes of the financial statements.
DRAFT

5

ECONOMIC FACTORS AND NEXT YEARS BUDGET

The District does not anticipate any major projects or significant changes to its infrastructure maintenance program for the subsequent fiscal year. In addition, it is anticipated that the general operations of the District will increase as the infrastructure project is completed.

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 Hacienda Lakes Community Development District’s Finance Department at 707 Orchid Drive, Suite 100, Naples, Florida 34102.

DRAFT

6

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT

COLLIER COUNTY, FLORIDA

STATEMENT OF NET POSITION

SEPTEMBER 30, 2017

	Governmental		
ASSETS		Activities		
				
Cash	$	241,754		
Assessments receivable		2,046		
Prepaid expense		5,253		
Deposits		3,185		
Restricted assets:				
Investments		1,770,445		
Capital assets:				
Nondepreciable		2,612,651		
Depreciable, net		13,533,526		
Total assets		18,168,860		
LIABILITIES				
Accounts payable		9,926		
Unearned revenue		199,188		
Accrued interest payable		456,917		
Non-current liabilities:				
Due within one year		325,000		
Due in more than one year		19,795,247		
Total liabilities		20,786,278		
NET POSITION				
Net investment in capital assets		(3,974,070)		
Restricted for debt service		710,702		
Restricted for capital projects		633,826		
Unrestricted		12,124		
Total net position	$	(2,617,418)		

DRAFT

See notes to the financial statements

7

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT

COLLIER COUNTY, FLORIDA

STATEMENT OF ACTIVITIES

FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017

							Net (Expense)		
							Revenue and		
							Changes in		
		Program Revenues		Net Position		
		Charges		Operating		Capital				
Functions/Programs		for	Grants and	Grants and	Governmental		
	Expenses	Services	Contributions	Contributions		Activities		
Governmental activities:										
General government	$   102,234	$   102,234	$	-	$	-	$	-		
Maintenance and operations	601,351	122,335		-		2,580		(476,436)		
Interest on long-term debt	1,086,803	1,000,814		4,405		-		(81,584)		
Total governmental activities	1,790,388	1,225,383		4,405		2,580		(558,020)		

General revenues:		
Miscellaneous revenue	4,648	
Total general revenues	4,648	
Change in net position	(553,372)	
Net position - beginning	(2,064,046)	
Net position - ending	$ (2,617,418)	

DRAFT

See notes to the financial statements

8

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT

COLLIER COUNTY, FLORIDA

BALANCE SHEET

GOVERNMENTAL FUNDS

SEPTEMBER 30, 2017

			Major Funds				Total		
				Debt		Capital	Governmental		
ASSETS		General		Service		Projects		Funds		
										
Cash	$	241,754	$	-	$	-	$	241,754		
Investments		-		1,136,619		633,826		1,770,445		
Assessment receivable		-		2,046		-		2,046		
Due from other funds		-		201,032		-		201,032		
Prepaid expenses		5,253		-		-		5,253		
Deposits		3,185		-		-		3,185		
Total assets	$	250,192	$	1,339,697	$	633,826	$	2,223,715		
LIABILITIES AND FUND BALANCES										
										
Liabilities:										
Accounts payable	$	9,926	$	-	$	-	$	9,926		
Unearned revenue		27,110		172,078		-		199,188		
Due to other funds		201,032		-		-		201,032		
Total liabilities		238,068		172,078		-		410,146		
Fund balances:										
Nonspendable:										
Deposits and prepaid expenses		8,438		-		-		8,438		
Restricted for:										
Debt service		-		1,167,619		-		1,167,619		
Capital projects		-		-		633,826		633,826		
Unassigned		3,686		-		-		3,686		
Total fund balances		12,124		1,167,619		633,826		1,813,569		
Total liabilities and fund balances	$	250,192	$	1,339,697	$	633,826	$	2,223,715		

DRAFT

See notes to the financial statements

9

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT

COLLIER COUNTY, FLORIDA

RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS

TO THE STATEMENT OF NET POSITION

SEPTEMBER 30, 2017

Fund balance - governmental funds	$	1,813,569	
Amounts reported for governmental activities in the statement of net					
position are different because:					
Capital  assets  used  in  governmental  activities  are  not					
financial resources and are not reported as assets in the					
governmental funds.  The statement of net position includes					
those capital assets, net of any accumulated depreciation, in					
the net assets of the government as a whole.					
Cost of capital assets	16,612,850				
Accumulated depreciation	(466,673)			16,146,177	
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.					
Accrued interest payable	(456,917)				
Unamortized original issuance discount	54,753				
Bonds payable	(20,175,000)			(20,577,164)	
Net position of governmental activities	$	(2,617,418)	

DRAFT

See notes to the financial statements

10

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT

COLLIER COUNTY, FLORIDA

STATEMENT OF REVENUES, EXPENDITURES,

AND CHANGES IN FUND BALANCES

GOVERNMENTAL FUNDS

FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017

			Major Funds				Total		
				Debt		Capital	Governmental		
REVENUES		General		Service		Projects		Funds		
										
Assessments	$	224,569	$	1,000,814	$	-	$	1,225,383		
Miscellaneous		4,648		-		-		4,648		
Interest		-		4,405		2,580		6,985		
Total revenues		229,217		1,005,219		2,580		1,237,016		
EXPENDITURES										
Current:										
General government		90,446		11,788		-		102,234		
Maintenance and operations		134,678		-		-		134,678		
Debt Service:										
Principal		-		335,000		-		335,000		
Interest		-		986,362		-		986,362		
Capital outlay		-		-		2,612,651		2,612,651		
Total expenditures		225,124		1,333,150		2,612,651		4,170,925		
Excess (deficiency) of revenues										
over (under) expenditures		4,093		(327,931)		(2,610,071)		(2,933,909)		
OTHER FINANCING SOURCES (USES)										
Transfers in (out)		-		(5,192)		5,192		-		
Total other financing sources (uses)		-		(5,192)		5,192		-		
Net change in fund balances		4,093		(333,123)		(2,604,879)		(2,933,909)		
Fund balances - beginning		8,031		1,500,742		3,238,705		4,747,478		
Fund balances - ending	$	12,124	$	1,167,619	$	633,826	$	1,813,569		

DRAFT

See notes to the financial statements

11

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT

COLLIER COUNTY, FLORIDA

RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017

Net change in fund balances - total governmental funds

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

Governmental funds report capital outlays as expenditures, however, the cost of capital assets is eliminated in the statement of activites and capitalized in the statement of net position.

Repayment of long-term liabilities are reported as expenditures in the governmental fund financial statements, but such repayments reduce liabilities in the statement of net position and are eliminated in the statement of activities.

Depreciation of capital assets is not recognized in the governmental fund financial statements, but is reported as an expense in the statement of activities.

Amortization of Bond discounts/premiums is not recognized in the governmental fund financial statements, but is reported as an expense in the statement of activities.

The change in accrued interest on long-term liabilities between the current and prior fiscal year is recorded in the statement of activities but not in the governmental fund financial statements.

Change in net position of governmental activities

$ (2,933,909)

2,612,651

335,000

(466,673)

(1,888)

(98,553)

$	(553,372)

DRAFT

See notes to the financial statements

12

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT

COLLIER COUNTY, FLORIDA

NOTES TO FINANCIAL STATEMENTS

NOTE 1 – NATURE OF ORGANIZATION AND REPORTING ENTITY

Hacienda Lakes Community Development District ("District") was created on September 19, 2013 by Ordinance No.2013-36 of the Collier County, Florida, 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 Board members are elected on an at large basis by the owners of property within the District. The Board of Supervisors of the District exercise all powers granted to the District pursuant to Chapter 190, Florida Statutes. At September 30, 2017, all of the Board members are affiliated with the Hacienda Lakes of Naples, LLC (the “Developer”).

The Board has the responsibility for:

1.	Assessing and levying assessments.
2.	Approving budgets.
3.	Exercising control over facilities and properties.
4.	Controlling the use of funds generated by the District.
5.	Approving the hiring and firing of key personnel.
6.	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.

DRAFT

13

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 benefitted lands within the District. Assessments are levied to pay for the operations and maintenance and debt service of the District. The fiscal year for which annual operations and maintenance assessments are levied begins on October 1 with discounts available for payments through February 28 and become delinquent on April 1. For debt service assessments, amounts collected as advance payments are used to prepay a portion of the Bonds outstanding. Otherwise, assessments are collected annually to provide funds for the debt service on the portion of the Bonds which are not paid with prepaid assessments.

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.

Debt Service Fund

The debt service fund is used to account for the accumulation of resources for the annual payment of principal and interest on long-term debt.

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.

DRAFT

14

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity (Continued)

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).

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:

a)	The Local Government Surplus Trust Funds, or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act;

b)	Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency;
c)	Interest bearing time deposits or savings accounts in qualified public depositories;
d)	Direct obligations of the U.S. Treasury.

Securities listed in paragraphs c and d shall be invested to provide sufficient liquidity to pay obligations as they come due. In addition, any unspent proceeds are required to be held in investments as specified in the Bond Indenture.

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.

Inventories and Prepaid Items

Inventories of governmental funds are recorded as expenditures when consumed rather than when purchased.

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 (amount not rounded) 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 estimated fair market 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.

No depreciation has been taken in the current year as the District’s infrastructure and other capital assets are under construction.

Unearned Revenue

Governmental funds report unearned revenue in connection with resources that have been received, but not yet earned.

DRAFT

15

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity (Continued)

Long-Term Obligations

In the government-wide financial statements long-term debt and other long-term obligations are reported as liabilities in the statement of net position. Bond premiums and discounts are deferred and amortized ratably 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

Deferred Outflows/Inflows of Resources

Deferred outflows of resources represent a consumption of net position that applies to future reporting period(s). For example, the District would record deferred outflows of resources on the statement of net position related to debit amounts resulting from current and advance refundings resulting in the defeasance of debt (i.e. when there are differences between the reacquisition price and the net carrying amount of the old debt).

Deferred inflows of resources represent an acquisition of net position that applies to future reporting period(s). For example, when an asset is recorded in the governmental fund financial statements, but the revenue is unavailable, the District reports a deferred inflow of resources on the balance sheet until such times as the revenue becomes available.

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 DRAFTofthenetposition not meeting the definition of either of the other two components.

16

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

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.

a)	Each year the District Manager submits to the District Board a proposed operating budget for the fiscal year commencing the following October 1.

b)	Public hearings are conducted to obtain public comments.
c)	Prior to October 1, the budget is legally adopted by the District Board.
d)	All budget changes must be approved by the District Board.
e)	The budgets are adopted on a basis consistent with generally accepted accounting principles.
f)	Unused appropriation for annually budgeted funds lapse at the end of the year.

NOTE 4 – DEPOSITS AND INVESTMENTS

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.

Investments

The District’s investments were held as follows at September 30, 2017:

	Amortized Cost	Credit Risk	Maturities		
US Bank Money Market 5 - Ct	$	1,770,445	N/A	N/A		
Total Investments	$	1,770,445				

Credit risk – For investments, credit risk is generally the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Investment ratings by investment type are included in the preceding summary of investments.

Concentration risk – The District places no limit on the amount the District may invest in any one issuer.

Interest rate risk – The District does not have a formal policy that limits investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates.
DRAFTHowever,the Bond Indenture limits the type of investments held using unspent proceeds.

17

NOTE 4 – DEPOSITS AND INVESTMENTS (Continued)

Investments (Continued)
Fair Value Measurement – When applicable, the District measures and records its investments using fair value measurement guidelines established in accordance with GASB Statements. The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques.

These guidelines recognize a three-tiered fair value hierarchy, in order of highest priority, as follows:

•	Level 1: Investments whose values are based on unadjusted quoted prices for identical investments in active markets that the District has the ability to access;

•	Level 2: Investments whose inputs - other than quoted market prices - are observable either directly or indirectly; and,
•	Level 3: Investments whose inputs are unobservable.

The fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the entire fair value measurement. Valuation techniques used should maximize the use of observable inputs and minimize the use of unobservable inputs.

Money market investments that have a maturity at the time of purchase of one year or less and are held by governments other than external investment pools should be measured at amortized cost. Accordingly, the District’s investments have been reported at amortized cost above.

NOTE 5 – INTERFUND RECEIVABLES AND PAYABLES

Interfund receivables and payables at September 30, 2017 were as follows:

Fund		Receivable		Payable	
General	$	-	$	201,032	
Debt service		201,032		-	
Total	$	201,032	$	201,032	

The District has recorded an interfund balance between the general and debt service funds for debt assessments collected by the general fund that have not yet been transferred to the debt service fund

NOTE 6 – CAPITAL ASSETS

Capital asset activity for the fiscal year ended September 30, 2017 was as follows:

		Beginning		Additions		Reductions		Ending		
Governmental activities		Balance						Balance		
										
Capital assets, not being depreciated										
Construction in progress - Tract A - Series 2014 project	$	14,000,199	$	-	$	(14,000,199)	$	-		
Construction in progress - Tract B - Series 2016 project		-		2,612,651				2,612,651		
Total capital assets, not being depreciated		14,000,199		2,612,651		(14,000,199)		2,612,651		
Capital assets, being depreciated										
Infrastructure - roadways, drainage (Tract A)		-		14,000,199	$	-		14,000,199		
Total capital assets, being depreciated		-		14,000,199		-		14,000,199		
Less accumulated depreciation for:										
Infrastructure		-		(466,673)		-		(466,673)		
Total accumulated depreciation		-		(466,673)		-		(466,673)		
Total capital assets, being depreciated, net		-		13,533,526		-		13,533,526		
Governmental activities capital assets	$	14,000,199	$	16,146,177	$	(14,000,199)	$	16,146,177		

DRAFT	18	

NOTE 6 – CAPITAL ASSETS (Continued)

During the prior fiscal year, the Developer contributed $1,200,141 of assets to the District. Of that amount, $548,469 may be reimbursed to the Developer from a future debt issuance. As it is uncertain if this will occur, no liability has been recorded in the financial statements.

During the current fiscal year, the District acquired improvements valued at $2,612,651 from the Developer.

NOTE 7 – LONG-TERM LIABILITIES

Series 2014

On April 3, 2014, the District issued $10,950,000 of Special Assessment Bonds, Series 2014 consisting of $4,900,000 Term Bond due on May 1, 2034 with a fixed interest rate of 6.25% and $6,050,000 Term Bond due on May 1, 2044 with a fixed interest rate of 6.50%. The Bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District. Interest is to be paid semiannually on each May 1 and November 1. Principal on the Bonds is to be paid serially commencing May 1, 2015 through May 1, 2044.

The Series 2014 Bonds are subject to redemption at the option of the District prior to their maturity. The Bonds are subject to extraordinary mandatory redemption prior to their selected maturity in the manner determined by the Bond Registrar if certain events occurred as outlined in the Bond Indenture.

The Bond Indenture established a debt service reserve requirement as well as other restrictions and requirements relating principally to the use of proceeds to pay for the infrastructure improvements and the procedures to be followed by the District on assessments to property owners. The District agrees to levy special assessments in annual amounts adequate to provide payment of debt service and to meet the reserve requirements. The District was in compliance with the requirements at September 30, 2017.

Series 2016

On August 16, 2016, the District issued $9,870,000 of Series 2016 Special Assessment Bonds, consisting of various term bonds with maturities ranging from May 1, 2021 to May 1, 2046 and interest rates ranging from 3.375% to 4.625%. The Bonds were issued to pay off the Series 2015 BAN and finance the acquisition and construction of certain improvements for the benefit of the District. Interest is to be paid semiannually on each May 1 and November 1. Principal on the Bonds is to be paid serially commencing May 1, 2017 through May 1, 2046.

The Series 2016 Bonds are subject to redemption at the option of the District prior to their maturity. The Bonds are subject to extraordinary mandatory redemption prior to their selected maturity in the manner determined by the Bond Registrar if certain events occurred as outlined in the Bond Indenture.

The Bond Indenture established a debt service reserve requirement as well as other restrictions and requirements relating principally to the use of proceeds to pay for the infrastructure improvements and the procedures to be followed by the District on assessments to property owners. The District agrees to levy special assessments in annual amounts adequate to provide payment of debt service and to meet the reserve requirements. The District was in compliance with the requirements at September 30, 2017.

DRAFT

19

NOTE 7 – LONG-TERM LIABILITIES (Continued)

Long-term Debt Activity

Changes in long-term liability activity for the fiscal year ended September 30, 2017 were as follows:

		Beginning		Additions		Reductions		Ending	Due Within		
Governmental activities		Balance						Balance		One Year		
												
Bonds payable:												
Series 2014	$	10,640,000	$	-	$	165,000	$	10,475,000	$	150,000		
Series 2016		9,870,000		-		170,000		9,700,000		175,000		
Original issuance discount		(56,641)		-		(1,888)		(54,753)		-		
Total	$	20,453,359	$	-	$	333,112	$	20,120,247	$	325,000		

At September 30, 2017, the scheduled debt service requirements on the long-term debt were as follows:

Year ending		Governmental Activities			
		Principal		Interest		Total		
September 30:								
2018	$	325,000	$	1,098,238	$	1,423,238		
2019		345,000		1,082,957		1,427,957		
2020		365,000		1,066,713		1,431,713		
2021		380,000		1,049,363		1,429,363		
2022		400,000		1,031,219		1,431,219		
2023-2027		2,320,000		4,831,631		7,151,631		
2028-2032		3,040,000		4,145,806		7,185,806		
2033-2037		3,995,000		3,215,908		7,210,908		
2038-2042		5,295,000		1,949,413		7,244,413		
2043-2046		3,710,000		410,775		4,120,775		
Total	$	20,175,000	$	19,882,023	$	40,057,023		

NOTE 8 – DEVELOPER TRANSACTIONS

The Developers owns the majority of land within the District, therefore, assessment revenues in the general and debt service funds include the assessments levied on those lots owned by the Developer.

NOTE 9 – CONCENTRATION

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

NOTE 10 – MANAGEMENT COMPANY

The District has contracted with a management company to perform services, which include financial and accounting 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 11 – 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 during the past three years.

NOTE 12 – SUBSEQUENT EVENTS (Continued)

Subsequent to fiscal year end, the District amended Ordinance No. 2012-36 by contracting the external boundaries by approx. 224.14 acres and eliminating undeveloped lands from the District.

DRAFT

20

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT

COLLIER COUNTY, FLORIDA

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN

FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND

FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017

			Budgeted					Variance with		
			Amounts					Final Budget -		
			Original &			Actual		Positive		
REVENUES		Final			Amounts		(Negative)		
										
Assessments	$	225,653	$	224,569		$	(1,084)		
Miscellaneous		-			4,648			4,648		
Total revenues		225,653			229,217			3,564		
EXPENDITURES										
Current:										
General government		86,249			90,446			(4,197)		
Maintenance and operations		139,404			134,678			4,726		
Total expenditures			225,653			225,124			529		
Excess (deficiency) of revenues										
over (under) expenditures	$	-			4,093		$	4,093		
Fund balance - beginning					8,031					
Fund balance - ending				$	12,124					

DRAFT

See notes to required supplementary information

21

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT

COLLIER COUNTY, 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 fiscal year ended September 30, 2017.

DRAFT

22

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

Hacienda Lakes Community Development District

Collier County, 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 each major fund of Hacienda Lakes Community Development District, Collier County, Florida (“District”) as of and for the fiscal year ended September 30, 2017, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our opinion thereon dated xxxxxxxxx, 2018.

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 may exist that have not been identified.

Compliance and Other Matters

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

DRAFT

23

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.

xxxxxxxxx, 2018

DRAFT

24

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

Hacienda Lakes Community Development District

Collier City, Florida

We have examined Hacienda Lakes Community Development District, Collier City, 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 fiscal year ended September 30, 2017. Management is responsible for the District’s compliance with those requirements. Our responsibility is to express an opinion on the District’s compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the District complied, 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.

In our opinion, the District complied, in all material respects, with the aforementioned requirements for the fiscal year ended September 30, 2017.

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 Board of Supervisors of Hacienda Lakes Community Development District, Collier City, Florida and is not intended to be and should not be used by anyone other than these specified parties.

xxxxxxxxx, 2018

DRAFT

25

MANAGEMENT LETTER PURSUANT TO THE RULES OF

THE AUDITOR GENERAL FOR THE STATE OF FLORIDA

To the Board of Supervisors

Hacienda Lakes Community Development District

Collier County, Florida

Report on the Financial Statements

We have audited the accompanying basic financial statements of Hacienda Lakes Community Development District, Collier County, Florida ("District") as of and for the fiscal year ended September 30, 2017, and have issued our report thereon dated xxxxxxxx, 2018.

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 xxxxxxxxx, 2018, 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:

I.	Current year findings and recommendations.

II.  Status of prior year findings and recommendations.

III. 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 Hacienda Lakes Community Development District, Collier County, Florida and is not intended to be and should not be used by anyone other than these specified parties.

We wish to thank Hacienda Lakes Community Development District, Collier County, 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.

xxxxxxxx, 2018

DRAFT

26

REPORT TO MANAGEMENT

I.	CURRENT YEAR FINDINGS AND RECOMMENDATIONS

	None

II.	PRIOR YEAR FINDINGS AND RECOMMENDATIONS

	2013-01, 2015-01, 2016-01: Audit Report Filing

	Current Status: Recommendation has been implemented

2016-02: Budget

Current Status: Recommendation has been implemented

III. 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:

1.	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.

There were no significant findings and recommendations made in the preceding annual financial audit report for the fiscal year ended September 30, 2016.

2.  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 fiscal year ended September 30, 2017.

3.	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 fiscal year ended September 30, 2017.

4.	The name or official title and legal authority of the District are disclosed in the notes to the financial statements.

5.	The financial report filed with the Florida Department of Financial Services pursuant to Section 218.32(1)(a), Florida Statutes agrees with the September 30, 2017 financial audit report.

6.	The District has not met one or more of the financial emergency conditions described in Section 218.503(1), Florida Statutes.

7.	We applied financial condition assessment procedures and no deteriorating financial conditions were noted as of September 30, 2017. 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.
DRAFT

27

EXHIBIT 4.

Hacienda Lakes Community Development District

Cash Flow Statement

Through May 31, 2018

		Oct '17 - May 18	
Income			
1361001 · Interest Revenue	37.14	
1363116 · Off Roll Assessments	238,467.25	
1363216 · On Roll O&M Assessments	28,790.95	
Total Income		267,295.34	
Gross Profit		267,295.34	
Expense			
1100000 · Administrative		
1511001	· P/R - Board of Supervisors	1,747.00	
1511115	· Payroll Taxes-FICA	513.40	
1511119	· Payroll Service Fee	314.88	
1512100	· Management Consulting Services	27,001.82	
1513020	· Office Expense	0.70	
1513030	· Bank Fees	144.21	
1513040	· Regulatory and Permit Fees	1,597.00	
1513048	· District Filing Fee	175.00	
1513055	· Legal Advertising	1,264.99	
1513060	· Assessment Administration Servi	8,900.03	
1513070	· Auditing Services	3,500.00	
1513080	· Engineering Services	6,274.37	
1514010	· Legal Services	3,803.75	
Total 1100000 · Administrative	55,237.15	
1160000 · Field Operations		
1531010	· Electricity - General	3,903.19	
1572010	· LANDSCAPING & MAINTENANCE	51,810.00	
1572014	· Irrigation Repairs	5,539.31	
1572015	· Mulch Installation	10,857.17	
1572016	· Plant Replacement	8,716.00	
1572030	· Lake Maintenance	17,456.00	
1572040	· Signage	500.00	
1572060	· Water Use Monitoring	1,600.00	
1572070	· Fountain Maintenance	512.00	
1572080	· Sable Palm Culvert Cleaning	8,774.00	
Total 1160000 · Field Operations	109,667.67	
Total Expense		164,904.82	

Net Cash Flow	102,390.52

Hacienda Lakes Community Development District

Budget to Actual

Through May 31, 2018

		Through 4-31-18	FY 2017-18 Budget	Variance	
Income					
1361001 · Interest Revenue	37.14	0.00	37.14	
1363116 · Off Roll Assessments	238,467.25	243,943.00	(5,475.75)	
1363216 · On Roll O&M Assessments	28,790.95	28,932.00	(141.05)	
2363109 · DS2014 Assessments On Roll	0.00	0.00	0.00	
2363115 · DS2014 Assessment Discount	0.00	0.00	0.00	
2363116 · DS2014 Assessment Off Roll	0.00	0.00	0.00	
3363116 · DS2015 Assessment Off Roll	0.00	0.00	0.00	
Total Income		267,295.34	272,875.00	(5,579.66)	
Expense					
1100000 · Administrative				
1511001	· P/R - Board of Supervisors	1,747.00	8,000.00	6,253.00	
1511115	· Payroll Taxes-FICA	513.40	1,429.00	915.60	
1511119	· Payroll Service Fee	314.88	897.00	582.12	
1512100	· Management Consulting Services	27,001.82	36,000.00	8,998.18	
1513014	· Website Hosting & Management	0.00	2,500.00	2,500.00	
1513020	· Office Expense	0.70	0.00	-0.70	
1513030	· Bank Fees	144.21	0.00	-144.21	
1513040	- Regularoty and Permit Fees	1,597.00	0.00	-1,597.00	
1513048	· District Filing Fee	175.00	175.00	0.00	
1513055	· Legal Advertising	1,264.99	1,800.00	535.01	
1513060	· Assessment Administration Servi	8,900.03	13,400.00	4,499.97	
2513315	· DS2014 Trustee Fees	0.00	0.00	0.00	
2513316	· DS2014 Disclosure Fees	0.00	0.00	0.00	
3513316	· DS2015 Disclosure Fees	0.00	0.00	0.00	
1513070	· Auditing Services	3,500.00	6,500.00	3,000.00	
1513080	· Engineering Services	6,274.37	10,000.00	3,725.63	
1514010	· Legal Services	3,803.75	10,000.00	6,196.25	
Miscellaneous	0.00	750.00	750.00	
Storage		0.00	900.00	900.00	
Insurance	0.00	5,000.00	5,000.00	
Assessment Roll Preparation	0.00	5,000.00	5,000.00	
Total 1100000 · Administrative	55,237.15	102,351.00	47,113.85	
1160000 · Field Operations				
1531010	· Electricity - General	3,903.19	9,600.00	5,696.81	
1572010	· LANDSCAPING & MAINTENANCE	51,810.00	73,140.00	21,330.00	
1572014	· Irrigation Repairs	5,539.31	12,000.00	6,460.69	
Landscape Replacement	8,716.00	10,000.00		
Landscape Mulching	10,857.17	14,000.00		
1572020	· Wetland Monitoring	0.00	1,500.00	1,500.00	
1572030	· Lake Maintenance	17,456.00	26,184.00	8,728.00	
Lake Testing	0.00	3,600.00	3,600.00	
1572040	· Signage	500.00	1,500.00	1,000.00	
1572050	· Street Sweeping	0.00	3,600.00	3,600.00	
Sabal Palm Culvert Cleaning	8,774.00	5,000.00	-3,774.00	
Lord's Way Contingency	0.00	5,000.00	5,000.00	
SFWMD ERP Permit	0.00	1,500.00	1,500.00	
1572060	· Water Use Monitoring	1,600.00	2,400.00	800.00	
1572070	· Fountain Maintenance	512.00	1,500.00	988.00	
Total 1160000 · Field Operations	109,667.67	170,524.00	56,429.50	
Total Expense		164,904.82	272,875.00	103,543.35	

Net Cash Flow	102,390.52	0.00     97,963.69

Hacienda Lakes Community Development District

Balance Sheet

Through May 31, 2018

		May 31, 18	
ASSETS			
Current Assets			
Checking/Savings		
1101000	· Cash	154,463.23	
2151000	· Revenue Trust Acct -Series 2014	4,288.30	
2151004	· Reserve Trust Fund -Series 2014	410,643.75	
2151007	· Assmnt Prepayment - Series 2014	1,891.05	
3572000	· Note Payment-Series 2015	-0.36	
4151000	· Revenue TrustAcct-Series 2016	3,137.34	
4151004	· Reserve Trust Fund-Series 2016	603,221.88	
4151005	· Sinking Trust Acct-Series 2016	328,048.75	
8151030	· DS2014 Construction Trust Fund	15.01	
8151040	· DS2015 Construction Trust Fund	-0.34	
8151050	· DS2016 Construction Trust Fund	634,428.59	
Total Checking/Savings	2,140,137.20	
Accounts Receivable		
2125000	· Interest Receivable	-0.01	
Total Accounts Receivable	-0.01	
Other Current Assets		
1155000	· Prepaid Items	5,253.00	
1156100	· Utility Deposits	3,185.00	
1166000	· Due from Other Funds	-227,797.00	
151040 · Note Payment Trust Account	0.36	
Total Other Current Assets	-219,358.64	
Total Current Assets	1,920,778.55	
Fixed Assets			
9164900 · Infrastructure	3,097,082.14	
9164901 · Roads	-3,097,082.00	
Total Fixed Assets	0.14	
TOTAL ASSETS		1,920,778.69	
LIABILITIES & EQUITY		
Liabilities			
Current Liabilities		
Other Current Liabilities		
1223000 · 1223000 - Unearned Revenue	52,405.00	
2260000 · Due to Other Funds	-227,797.00	
Total Other Current Liabilities	-175,392.00	
Total Current Liabilities	-175,392.00	
Total Liabilities		-175,392.00	
Equity			
120000 · Retained Earnings	-2,451,197.31	
1271000 · Fund Balance- Unreserved	8,031.15	
2271000 · DS Fund Balance Unreserved	802,806.91	
4271000 · 2016 DS Fund Balance Unreserved	697,935.00	
8271000 · Fund Balance Unreserved	3,238,705.48	
Net Income		-200,110.54	
Total Equity		2,096,170.69	

TOTAL LIABILITIES & EQUITY	1,920,778.69

FTTTAFTTAATDDATTDTTFTTTFDTAADATDTDTFDDTTTFDTAFDTADTADDFDDDFTAFATD

000001077 03 SP	000638848550624 P

HACIENDA LAKES

REAL ESTATE ECONOMETRICS INC ATTN RUSS WEYER

707 ORCHID DR STE 100

NAPLES FL  34102-5014

00- -M -PH-PC -152-01	2824	
0167666-00-02507-01	Page 1 of 5	

ACCOUNT NUMBER: 208931000

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT (COLLIER COUNTY, FLORIDA) SPECIAL ASSESSMENT BONDS

SERIES 2014 INTEREST FUND

This statement is for the period from
May 1, 2018 to May 31, 2018

QUESTIONS?

If you have any questions regarding your account or this statement, please
contact your Account Manager or Analyst.

Account Manager:

JAMES J. AUDETTE
EX-FL-UORT
225 E. ROBINSON ST., SUITE 250 ORLANDO, FL 32801
Phone 407-835-3820
E-mail james.audette@usbank.com

Analyst:

PHUONG DO
Phone 651-466-6211

	00- -M -PH-PC -152-01	00282401	2824	
	0167666-00-02507-01	Page 2 of 5	
	ACCOUNT NUMBER: 208931000		
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)		
	SPECIAL ASSESSMENT BONDS		
	SERIES 2014			
	INTEREST FUND			
	This statement is for the period from		
	May 1, 2018 to May 31, 2018		
				
	MARKET VALUE SUMMARY			
				
	Current Period			
	05/01/18 to 05/31/18			
Beginning Market Value	$0.00			
Contributions	334,687.50			
Distributions	- 334,687.50			
				
Adjusted Market Value	$0.00			
				
Ending Market Value	$0.00			

10101010101010101010
10100101010010011011

10100111001010000010
10010011001010100101

10011100101001001010
10001110100001000001

10001001000101111000
10010111110010100011

11000100001001110000
11010010011110101101

10000000101100011000
10101001101111010011

10000011001000011100
10100110110010110011

10001011111111100100
10011011001110101111

10111000100111110000
11000010110101110101

10101000011110011010
11111111111111111111

00- -M -PH-PC -152-01	00282401	2824	
0167666-00-02507-01	Page 3 of 5	

ACCOUNT NUMBER: 208931000
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS
SERIES 2014
INTEREST FUND

This statement is for the period from
May 1, 2018 to May 31, 2018

ASSET DETAIL MESSAGES

No reportable  securities  for this statement  period

	00- -M -PH-PC -152-01	00282401	2824		
	0167666-00-02507-01	Page 4 of 5	
	ACCOUNT NUMBER: 208931000			
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)	
	SPECIAL ASSESSMENT BONDS			
	SERIES 2014					
	INTEREST FUND				
	This statement is for the period from			
	May 1, 2018 to May 31, 2018			
						
	CASH SUMMARY					
						
	Income	Principal		Total	
	Cash	Cash		Cash	
Beginning Cash Balance as of 05/01/2018	$.00	$.00		$.00		
Cash ACH Disbursements		- 334,687.50	- 334,687.50		
Cash Receipts		334,687.50		334,687.50		
						
Ending Cash Balance as of 05/31/2018	$0.00	$0.00		$0.00		

10101010101010101010
10100101010001011011

10100111001010000010
10010011001000001101

10011100101001000110
10001110010001111001

10001001000100001100
10010111110111101001

11000100001101100110
11010010001010010101

10000000111101110000
10101000110001110011

10000010101110101100
10100010001111001111

10001111110011110000
10000010000001101111

10101010101010111010
11010111110110101101

10101001111110111010
11111111111111111111

		00- -M -PH-PC -152-01	00282401	2824	
		0167666-00-02507-01	Page 5 of 5	
		ACCOUNT NUMBER: 208931000		
		HACIENDA LAKES COMMUNITY DEVELOPMENT	
		DISTRICT (COLLIER COUNTY, FLORIDA)		
		SPECIAL ASSESSMENT BONDS		
		SERIES 2014				
		INTEREST FUND			
		This statement is for the period from		
		May 1, 2018 to May 31, 2018		
					
	TRANSACTION DETAIL				
						
Date		Income	Principal		Tax	
Posted	Description	Cash	Cash		Cost	
	Beginning Balance 05/01/2018	$.00	$.00		$0.00	
05/01/18	Cash Receipt		334,687.50			
	Transfer From Another Trust					
	Transfer From Revenue Account					
	Debt Service Due 5/1/2018 Pndo-56379					
05/01/18	Cash Disbursement		- 334,687.50			
	Paid To Denverac1					
	ACH Transfer To Checking Acct					
	Hacienda2014					
	Debt Service Interest Payment Due 5/1/2018					
	Pndo-56379					
						
	Ending Balance 05/31/2018	$0.00	$0.00		$0.00	

10101010101010101010
10100101010000011011

10100111001010000010
10010011001000010101

10011100101001001010
10001110000001110101

10001001000100110000
10010111110000011101

11000100001000010010
11010010010110100101

10000000111001100000
10101000001000100011

10000011011001001100
10100000000010111111

10001010100101111100
10000011000111110101

10100111101101100010
11001001010011100101

10101001111110000010
11111111111111111111

FTTTAFTTAATDDATTDTTFTTTFDTAADATDTDTFDDTTTFDTAFDTADTADDFDDDFTAFATD

000001077 03 SP	000638848550624 P

HACIENDA LAKES

REAL ESTATE ECONOMETRICS INC ATTN RUSS WEYER

707 ORCHID DR STE 100

NAPLES FL  34102-5014

00- -M -PH-PC -152-01	2824	
0167668-00-02507-01	Page 1 of 5	

ACCOUNT NUMBER: 208931003

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT (COLLIER COUNTY, FLORIDA) SPECIAL ASSESSMENT BONDS

SERIES 2014 REVENUE FUND

This statement is for the period from
May 1, 2018 to May 31, 2018

QUESTIONS?

If you have any questions regarding your account or this statement, please
contact your Account Manager or Analyst.

Account Manager:

JAMES J. AUDETTE
EX-FL-UORT
225 E. ROBINSON ST., SUITE 250 ORLANDO, FL 32801
Phone 407-835-3820
E-mail james.audette@usbank.com

Analyst:

PHUONG DO
Phone 651-466-6211

00- -M -PH-PC -152-01	00282401	2824	
0167668-00-02507-01	Page 2 of 5	

ACCOUNT NUMBER: 208931003
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS
SERIES 2014
REVENUE FUND

This statement is for the period from
May 1, 2018 to May 31, 2018

MARKET VALUE SUMMARY

	Current Period	
	05/01/18 to 05/31/18	
Beginning Market Value	$633,629.04	
Contributions	83.82	
Distributions	- 490,840.63	
		
Adjusted Market Value	$142,872.23	
Investment Results		
Interest, Dividends and Other Income	86.95	
		
Total Investment Results	$86.95	
		
Ending Market Value	$142,959.18	

10101010101010101010
10100101010111011011

10100111001010000010
10010011001000011101

10011100011001001010
10001111110001110101

10001001000101000000
10010111110011011111

11000100001101001110
11010010010101111101

10000000111111110000
10101001110101001011

10000011000111010100
10100001001100011011

10001100000000010000
10000001111101110101

10101100110100111100
11000011110111011101

10101001011010100010
11111111111111111111

00- -M -PH-PC -152-01	00282401	2824	
0167668-00-02507-01	Page 3 of 5	

ACCOUNT NUMBER: 208931003
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS
SERIES 2014
REVENUE FUND

This statement is for the period from
May 1, 2018 to May 31, 2018

ASSET DETAIL AS OF 05/31/18

Shares or	Security Description	Market Value/	Tax Cost/	% of Total	Est Ann Inc		
Face Amount		Price	Unit Cost	Yield at Market			
Cash Equivalents							
142,959.180	US Bank Mmkt 5 - Ct	142,959.18	142,959.18	100.0	357.40			
	9AMMF05B2	1.0000	1.00	.25				
							
Total Cash Equivalents	$142,959.18	$142,959.18	100.0	$357.40			

Total Assets	$142,959.18	$142,959.18	100.0	$357.40			

ASSET DETAIL MESSAGES

Time of trade execution and trading party (if not disclosed) will be provided upon request.

Publicly traded assets are valued in accordance with market quotations or valuation methodologies from financial industry services believed by us to be reliable. Assets that are not publicly traded may be reflected at values from other external sources. Assets for which a current value is not available may be reflected at a previous value or as not valued, at par value, or at a nominal value. Values shown do not necessarily reflect prices at which assets could be bought or sold. Values are updated based on internal policy and may be updated less frequently than statement generation.

For further information, please contact your Analyst.

** The Yield at Market set forth in this statement for any money market fund is based on the interest rate applicable to that money market fund as of the last business day of the statement period (or most recent daily rate available) and may not be relied upon as (i) a yield estimate for the statement period as a whole, or (ii) a guarantee of future performance.

	00- -M -PH-PC -152-01	00282401	2824		
	0167668-00-02507-01	Page 4 of 5	
	ACCOUNT NUMBER: 208931003			
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)	
	SPECIAL ASSESSMENT BONDS			
	SERIES 2014					
	REVENUE FUND				
	This statement is for the period from			
	May 1, 2018 to May 31, 2018			
						
	CASH SUMMARY					
						
	Income	Principal		Total	
	Cash	Cash		Cash	
Beginning Cash Balance as of 05/01/2018	$.00	$.00		$.00		
Taxable Interest	86.95			86.95		
Cash Receipts		83.82		83.82		
Cash Disbursements		- 490,840.63	- 490,840.63		
Transfers	- 86.95	86.95				
Net Money Market Activity		490,669.86		490,669.86		
						
Ending Cash Balance as of 05/31/2018	$0.00	$0.00		$0.00		

10101010101010101010
10100101010110011011

10100111001010000010
10010011001000000101

10011100011001000110
10001111100001111001

10001001000101111100
10010111110100101011

11000100001000111010
11010010001001001101

10000000111011100000
10101001001100011011

10000010110000110100
10100011000001101011

10001001010110011100
10000000111011101111

10100001110011100100
11011101010010010101

10101001011010011010
11111111111111111111

		00- -M -PH-PC -152-01	00282401	2824	
		0167668-00-02507-01	Page 5 of 5	
		ACCOUNT NUMBER: 208931003		
		HACIENDA LAKES COMMUNITY DEVELOPMENT	
		DISTRICT (COLLIER COUNTY, FLORIDA)	
		SPECIAL ASSESSMENT BONDS		
		SERIES 2014				
		REVENUE FUND			
		This statement is for the period from		
		May 1, 2018 to May 31, 2018		
					
	TRANSACTION DETAIL				
						
Date		Income	Principal		Tax	
Posted	Description	Cash	Cash		Cost	
	Beginning Balance 05/01/2018	$.00	$.00	$633,629.04	
05/01/18	Cash Disbursement		- 1,153.13			
	Paid To 208931007					
	Transfer To Another Trust					
	Transfer To Hacienda Lakes Cdd 2014 Dsrsv					
	Dsr Underfunded - Move Funds Frm Rev					
	Pndo					
05/01/18	Sold 1,153.13 Units Of		1,153.13		- 1,153.13	
	US Bank Mmkt 5 - Ct					
	Trade Date 5/1/18					
	9AMMF05B2					
05/01/18	Cash Disbursement		- 334,687.50			
	Paid To 208931000					
	Transfer To Another Trust					
	Transfer To Interest Account					
	Debt Service Due 5/1/2018 Pndo-56379					
05/01/18	Cash Disbursement		- 155,000.00			
	Paid To 208931005					
	Transfer To Another Trust					
	Transfer To Sinking Fund Account					
	Debt Service Due 5/1/2018 Pndo-56379					
05/01/18	Sold 489,687.5 Units Of		489,687.50	- 489,687.50	
	US Bank Mmkt 5 - Ct					
	Trade Date 5/1/18					
	9AMMF05B2					
05/01/18	Interest Earned On	86.95				
	US Bank Mmkt 5 - Ct					
	Interest From 4/1/18 To 4/30/18					
	9AMMF05B2					
05/02/18	Cash Disbursement	- 86.95				
	Transfer To Principal					
	1					
05/02/18	Cash Receipt		86.95			
	Transfer From Income					
	1					
05/02/18	Cash Receipt		83.82			
	Transfer From Another Trust					
	Paid From Account # 208931007					
	Income Earnings					
05/02/18	Purchased 170.77 Units Of		- 170.77		170.77	
	US Bank Mmkt 5 - Ct					
	Trade Date 5/2/18					
	9AMMF05B2					
					
	Ending Balance 05/31/2018	$0.00	$0.00	$142,959.18	

10101010101010101010
10100101010101011011

10100111001010000010
10010011001000001101

10011100011001000110
10001111010001111001

10001001000100111000
10010111110100111101

11000100001011111100
11010010000000110101

10000000100111111000
10101000010011101011

10000010101000000100
10100111000101001111

10001110101101001100
10000011111010001001

10110011110110010110
11011010110000000101

10101001011010010010
11111111111111111111

FTTTAFTTAATDDATTDTTFTTTFDTAADATDTDTFDDTTTFDTAFDTADTADDFDDDFTAFATD

000001077 03 SP	000638848550624 P

HACIENDA LAKES

REAL ESTATE ECONOMETRICS INC ATTN RUSS WEYER

707 ORCHID DR STE 100

NAPLES FL  34102-5014

00- -M -PH-PC -152-01	2824	
0167670-00-02507-01	Page 1 of 5	

ACCOUNT NUMBER: 208931005

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT (COLLIER COUNTY, FLORIDA) SPECIAL ASSESSMENT BONDS

SERIES 2014 SINKING FUND

This statement is for the period from
May 1, 2018 to May 31, 2018

QUESTIONS?

If you have any questions regarding your account or this statement, please
contact your Account Manager or Analyst.

Account Manager:

JAMES J. AUDETTE
EX-FL-UORT
225 E. ROBINSON ST., SUITE 250 ORLANDO, FL 32801
Phone 407-835-3820
E-mail james.audette@usbank.com

Analyst:

PHUONG DO
Phone 651-466-6211

	00- -M -PH-PC -152-01	00282401	2824	
	0167670-00-02507-01	Page 2 of 5	
	ACCOUNT NUMBER: 208931005		
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)		
	SPECIAL ASSESSMENT BONDS		
	SERIES 2014			
	SINKING FUND			
	This statement is for the period from		
	May 1, 2018 to May 31, 2018		
				
	MARKET VALUE SUMMARY			
				
	Current Period			
	05/01/18 to 05/31/18			
Beginning Market Value	$0.00			
Contributions	155,000.00			
Distributions	- 155,000.00			
				
Adjusted Market Value	$0.00			
				
Ending Market Value	$0.00			

10101010101010101010
10100101010100011011

10100111001010000010
10010011001000010101

10011100011001001010
10001111000001110101

10001001000100000100
10010111110011001001

11000100001110001000
11010010011100000101

10000000100011101000
10101000101010111011

10000011011111100100
10100101001000111111

10001011111011000000
10000010111100010011

10111110110001001110
11000100010101001101

10101001011010101010
11111111111111111111

00- -M -PH-PC -152-01	00282401	2824	
0167670-00-02507-01	Page 3 of 5	

ACCOUNT NUMBER: 208931005
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS
SERIES 2014
SINKING FUND

This statement is for the period from
May 1, 2018 to May 31, 2018

ASSET DETAIL MESSAGES

No reportable  securities  for this statement  period

	00- -M -PH-PC -152-01	00282401	2824		
	0167670-00-02507-01	Page 4 of 5	
	ACCOUNT NUMBER: 208931005			
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)	
	SPECIAL ASSESSMENT BONDS			
	SERIES 2014					
	SINKING FUND					
	This statement is for the period from			
	May 1, 2018 to May 31, 2018			
						
	CASH SUMMARY					
						
	Income	Principal		Total	
	Cash	Cash		Cash	
Beginning Cash Balance as of 05/01/2018	$.00	$.00		$.00		
Cash ACH Disbursements		- 155,000.00	- 155,000.00		
Cash Receipts		155,000.00		155,000.00		
						
Ending Cash Balance as of 05/31/2018	$0.00	$0.00		$0.00		

10101010101010101010
10100101010011011011

10100111001010000010
10010011001000011101

10011100011001000110
10001110110001011001

10001001000100110000
10010111110100010001

11000100001101100000
11010010011010000101

10000000111010001000
10101000001000100011

10000011011001010000
10100100010100110011

10001101000011111100
10001000010001000101

10110010011100110010
11010011010100001101

10101011111010101010
11111111111111111111

		00- -M -PH-PC -152-01	00282401	2824	
		0167670-00-02507-01	Page 5 of 5	
		ACCOUNT NUMBER: 208931005		
		HACIENDA LAKES COMMUNITY DEVELOPMENT	
		DISTRICT (COLLIER COUNTY, FLORIDA)		
		SPECIAL ASSESSMENT BONDS		
		SERIES 2014				
		SINKING FUND			
		This statement is for the period from		
		May 1, 2018 to May 31, 2018		
					
	TRANSACTION DETAIL				
						
Date		Income	Principal		Tax	
Posted	Description	Cash	Cash		Cost	
	Beginning Balance 05/01/2018	$.00	$.00		$0.00	
05/01/18	Cash Receipt		155,000.00			
	Transfer From Another Trust					
	Transfer From Revenue Account					
	Debt Service Due 5/1/2018 Pndo-56379					
05/01/18	Cash Disbursement		- 155,000.00			
	Paid To Denverac1					
	ACH Transfer To Checking Acct					
	Hacienda2014					
	Debt Service Principal Payment Due 5/1/2018					
	Pndo-56379					
						
	Ending Balance 05/31/2018	$0.00	$0.00		$0.00	

10101010101010101010
10100101010010011011

10100111001010000010
10010011001000000101

10011100011001001010
10001110100001010101

10001001000100001100
10010111110011100101

11000100001000010100
11010010000110110101

10000000111110011000
10101000110001110011

10000010101110110000
10100110011001000011

10001000010101110000
10001001010111011111

10111111011011101010
11001101110001000101

10101011111010010010
11111111111111111111

FTTTAFTTAATDDATTDTTFTTTFDTAADATDTDTFDDTTTFDTAFDTADTADDFDDDFTAFATD

000001077 03 SP	000638848550624 P

HACIENDA LAKES

REAL ESTATE ECONOMETRICS INC ATTN RUSS WEYER

707 ORCHID DR STE 100

NAPLES FL  34102-5014

00- -M -PH-PC -152-01	2824	
0167671-00-02507-01	Page 1 of 5	

ACCOUNT NUMBER: 208931006

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT (COLLIER COUNTY, FLORIDA) SPECIAL ASSESSMENT BONDS
SERIES 2014
PREPAYMENT

This statement is for the period from
May 1, 2018 to May 31, 2018

QUESTIONS?

If you have any questions regarding your account or this statement, please
contact your Account Manager or Analyst.

Account Manager:

JAMES J. AUDETTE
EX-FL-UORT
225 E. ROBINSON ST., SUITE 250 ORLANDO, FL 32801
Phone 407-835-3820
E-mail james.audette@usbank.com

Analyst:

PHUONG DO
Phone 651-466-6211

00- -M -PH-PC -152-01	00282401	2824	
0167671-00-02507-01	Page 2 of 5	

ACCOUNT NUMBER: 208931006
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS
SERIES 2014
PREPAYMENT

This statement is for the period from
May 1, 2018 to May 31, 2018

MARKET VALUE SUMMARY

	Current Period	
	05/01/18 to 05/31/18	
Beginning Market Value	$1,892.30	
Investment Results		
Interest, Dividends and Other Income	0.39	
		
Total Investment Results	$0.39	
		
Ending Market Value	$1,892.69	

10101010101010101010
10100101010001011011

10100111001010000010
10010011001000001101

10011100011001001010
10001110010001010101

10001001000101001000
10010111110011110011

11000100001011010010
11010010001111001101

10000000100010000000
10101001101110000011

10000010110110000000
10100010011101100111

10001111101110100000
10001010010110111001

10101101011110011000
11001010010011010101

10101011111010011010
11111111111111111111

00- -M -PH-PC -152-01	00282401	2824	
0167671-00-02507-01	Page 3 of 5	

ACCOUNT NUMBER: 208931006
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS
SERIES 2014
PREPAYMENT

This statement is for the period from
May 1, 2018 to May 31, 2018

ASSET DETAIL AS OF 05/31/18

Shares or	Security Description	Market Value/	Tax Cost/	% of Total	Est Ann Inc		
Face Amount		Price	Unit Cost	Yield at Market			
Cash Equivalents							
1,892.690	US Bank Mmkt 5 - Ct	1,892.69	1,892.69	100.0	4.73			
	9AMMF05B2	1.0000	1.00	.25				
							
Total Cash Equivalents	$1,892.69	$1,892.69	100.0	$4.73			

Total Assets	$1,892.69	$1,892.69	100.0	$4.73			

ASSET DETAIL MESSAGES

Time of trade execution and trading party (if not disclosed) will be provided upon request.

Publicly traded assets are valued in accordance with market quotations or valuation methodologies from financial industry services believed by us to be reliable. Assets that are not publicly traded may be reflected at values from other external sources. Assets for which a current value is not available may be reflected at a previous value or as not valued, at par value, or at a nominal value. Values shown do not necessarily reflect prices at which assets could be bought or sold. Values are updated based on internal policy and may be updated less frequently than statement generation.

For further information, please contact your Analyst.

** The Yield at Market set forth in this statement for any money market fund is based on the interest rate applicable to that money market fund as of the last business day of the statement period (or most recent daily rate available) and may not be relied upon as (i) a yield estimate for the statement period as a whole, or (ii) a guarantee of future performance.

	00- -M -PH-PC -152-01	00282401	2824		
	0167671-00-02507-01	Page 4 of 5	
	ACCOUNT NUMBER: 208931006			
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)			
	SPECIAL ASSESSMENT BONDS			
	SERIES 2014					
	PREPAYMENT					
	This statement is for the period from			
	May 1, 2018 to May 31, 2018			
						
	CASH SUMMARY					
						
	Income	Principal		Total	
	Cash	Cash		Cash	
Beginning Cash Balance as of 05/01/2018	$.00	$.00		$.00		
Taxable Interest	0.39			0.39		
Transfers	- 0.39	0.39				
Net Money Market Activity		- 0.39		- 0.39		
						
Ending Cash Balance as of 05/31/2018	$0.00	$0.00		$0.00		

10101010101010101010
10100101010000011011

10100111001010000010
10010011001000010101

10011100011001000110
10001110000001011001

10001001000101110100
10010111110100000111

11000100001110100110
11010010010011111101

10000000100110010000
10101001010111010011

10000011000001100000
10100000010000010111

10001010111000101100
10001011010000100011

10100000011001000000
11010100110110011101

10101011111010100010
11111111111111111111

		00- -M -PH-PC -152-01	00282401	2824	
		0167671-00-02507-01	Page 5 of 5	
		ACCOUNT NUMBER: 208931006		
		HACIENDA LAKES COMMUNITY DEVELOPMENT	
		DISTRICT (COLLIER COUNTY, FLORIDA)	
		SPECIAL ASSESSMENT BONDS		
		SERIES 2014				
		PREPAYMENT				
		This statement is for the period from		
		May 1, 2018 to May 31, 2018		
						
		TRANSACTION DETAIL				
						
Date		Income	Principal		Tax	
Posted	Description	Cash	Cash		Cost	
	Beginning Balance 05/01/2018	$.00	$.00		$1,892.30	
05/01/18	Interest Earned On	0.39				
	US Bank Mmkt 5 - Ct					
	Interest From 4/1/18 To 4/30/18					
	9AMMF05B2					
05/02/18	Cash Disbursement	- 0.39				
	Transfer To Principal					
	1					
05/02/18	Cash Receipt		0.39			
	Transfer From Income					
	1					
05/02/18	Purchased 0.39 Units Of		- 0.39		0.39	
	US Bank Mmkt 5 - Ct					
	Trade Date 5/2/18					
	9AMMF05B2					
						
	Ending Balance 05/31/2018	$0.00	$0.00		$1,892.69	

10101010101010101010
10100101010111011011

10100111001010000010
10010011001000010101

10011100001001010010
10001111110000101001

10001001000100111000
10010111110100011011

11000100001110010010
11010010010011000101

10000000101001110000
10101000001111011011

10000011010001011000
10100011100011000111

10001011111010000100
10010111011000111001

10100110100010001000
11001000110100100101

10101000010110100010
11111111111111111111

FTTTAFTTAATDDATTDTTFTTTFDTAADATDTDTFDDTTTFDTAFDTADTADDFDDDFTAFATD

000001077 03 SP	000638848550624 P

HACIENDA LAKES

REAL ESTATE ECONOMETRICS INC ATTN RUSS WEYER

707 ORCHID DR STE 100

NAPLES FL  34102-5014

00- -M -PH-PC -152-01	2824	
0167672-00-02507-01	Page 1 of 5	

ACCOUNT NUMBER: 208931007

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT (COLLIER COUNTY, FLORIDA) SPECIAL ASSESSMENT BONDS
SERIES 2014
DEBT SERVICE RESERVE

This statement is for the period from
May 1, 2018 to May 31, 2018

QUESTIONS?

If you have any questions regarding your account or this statement, please
contact your Account Manager or Analyst.

Account Manager:

JAMES J. AUDETTE
EX-FL-UORT
225 E. ROBINSON ST., SUITE 250 ORLANDO, FL 32801
Phone 407-835-3820
E-mail james.audette@usbank.com

Analyst:

PHUONG DO
Phone 651-466-6211

00- -M -PH-PC -152-01	00282401	2824	
0167672-00-02507-01	Page 2 of 5	

ACCOUNT NUMBER: 208931007
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS
SERIES 2014
DEBT SERVICE RESERVE

This statement is for the period from
May 1, 2018 to May 31, 2018

MARKET VALUE SUMMARY

	Current Period	
	05/01/18 to 05/31/18	
Beginning Market Value	$410,643.75	
Contributions	1,153.13	
Distributions	- 83.82	
		
Adjusted Market Value	$411,713.06	
Investment Results		
Interest, Dividends and Other Income	83.82	
		
Total Investment Results	$83.82	
		
Ending Market Value	$411,796.88	

10101010101010101010
10100101010110011011

10100111001010000010
10010011001000001101

10011100001001011110
10001111100000100101

10001001000100000100
10010111110011101111

11000100001011100110
11010010001111110101

10000000101101100000
10101000110110001011

10000010100110111000
10100001101110110111

10001110101100001000
10010110011110100011

10101011100101010000
11010110010001101101

10101000010110011010
11111111111111111111

			00- -M -PH-PC -152-01	00282401	2824			
			0167672-00-02507-01	Page 3 of 5		
			ACCOUNT NUMBER: 208931007					
			HACIENDA LAKES COMMUNITY DEVELOPMENT		
			DISTRICT (COLLIER COUNTY, FLORIDA)		
			SPECIAL ASSESSMENT BONDS					
			SERIES 2014						
			DEBT SERVICE RESERVE						
			This statement is for the period from					
			May 1, 2018 to May 31, 2018					
								
		ASSET DETAIL AS OF 05/31/18						
									
Shares or	Security Description	Market Value/	Tax Cost/	% of Total		Est Ann Inc		
Face Amount		Price	Unit CostYield at Market				
Cash Equivalents								
411,796.880US Bank Mmkt 5 - Ct	411,796.88	411,796.88	100.0		1,029.49			
	9AMMF05B2	1.0000	1.00	.25					
								
Total Cash Equivalents	$411,796.88	$411,796.88	100.0		$1,029.49			

Total Assets	$411,796.88	$411,796.88	100.0		$1,029.49			

ASSET DETAIL MESSAGES

Time of trade execution and trading party (if not disclosed) will be provided upon request.

Publicly traded assets are valued in accordance with market quotations or valuation methodologies from financial industry services believed by us to be reliable. Assets that are not publicly traded may be reflected at values from other external sources. Assets for which a current value is not available may be reflected at a previous value or as not valued, at par value, or at a nominal value. Values shown do not necessarily reflect prices at which assets could be bought or sold. Values are updated based on internal policy and may be updated less frequently than statement generation.

For further information, please contact your Analyst.

** The Yield at Market set forth in this statement for any money market fund is based on the interest rate applicable to that money market fund as of the last business day of the statement period (or most recent daily rate available) and may not be relied upon as (i) a yield estimate for the statement period as a whole, or (ii) a guarantee of future performance.

	00- -M -PH-PC -152-01	00282401	2824		
	0167672-00-02507-01	Page 4 of 5	
	ACCOUNT NUMBER: 208931007			
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)	
	SPECIAL ASSESSMENT BONDS			
	SERIES 2014					
	DEBT SERVICE RESERVE				
	This statement is for the period from			
	May 1, 2018 to May 31, 2018			
						
	CASH SUMMARY					
						
	Income	Principal		Total	
	Cash	Cash		Cash	
Beginning Cash Balance as of 05/01/2018	$.00	$.00		$.00		
Taxable Interest	83.82			83.82		
Cash Receipts		1,153.13		1,153.13		
Cash Disbursements	- 83.82			- 83.82		
Net Money Market Activity		- 1,153.13		- 1,153.13		
						
Ending Cash Balance as of 05/31/2018	$0.00	$0.00		$0.00		

10101010101010101010
10100101010101011011

10100111001010000010
10010011001000000101

10011100001001011110
10001111010000100101

10001001000101000000
10010111110011111001

11000100001000100000
11010010000110001101

10000000110001111000
10101001101001111011

10000010111110001000
10100101101010010011

10001001010111011000
10010101011111000101

10111001100000100010
11010001110011111101

10101000010110010010
11111111111111111111

		00- -M -PH-PC -152-01	00282401	2824	
		0167672-00-02507-01	Page 5 of 5	
		ACCOUNT NUMBER: 208931007		
		HACIENDA LAKES COMMUNITY DEVELOPMENT	
		DISTRICT (COLLIER COUNTY, FLORIDA)	
		SPECIAL ASSESSMENT BONDS		
		SERIES 2014				
		DEBT SERVICE RESERVE			
		This statement is for the period from		
		May 1, 2018 to May 31, 2018		
					
	TRANSACTION DETAIL				
						
Date		Income	Principal		Tax	
Posted	Description	Cash	Cash		Cost	
	Beginning Balance 05/01/2018	$.00	$.00	$410,643.75	
05/01/18	Cash Receipt		1,153.13			
	Transfer From Another Trust					
	Frm 208931003 Hacienda Lakes Cdd 2014 Rev Fd					
	Dsr Underfunded - Move Funds Frm Rev					
	Pndo					
05/01/18	Purchased 1,153.13 Units Of		- 1,153.13		1,153.13	
	US Bank Mmkt 5 - Ct					
	Trade Date 5/1/18					
	9AMMF05B2					
05/01/18	Interest Earned On	83.82				
	US Bank Mmkt 5 - Ct					
	Interest From 4/1/18 To 4/30/18					
	9AMMF05B2					
05/02/18	Cash Disbursement	- 83.82				
	Paid To Account # 208931003					
	Transfer To Another Trust					
	Income Earnings					
					
	Ending Balance 05/31/2018	$0.00	$0.00	$411,796.88	

10101010101010101010
10100101010100011011

10100111001010000010
10010011001000011101

10011100001001010010
10001111000000101001

10001001000101111100
10010111110100001101

11000100001101010100
11010010011010111101

10000000110101101000
10101001010000101011

10000011001001101000
10100111100111100011

10001100000001010100
10010100011001011111

10110100100111111010
11001111010110110101

10101000010110101010
11111111111111111111

Glossary

Accretion - The accumulation of the value of a discounted bond until maturity.

Adjusted Prior Market Realized Gain/Loss - The difference between the proceeds and the Prior Market Value of the transaction.

Adjusted Prior Market Unrealized Gain/Loss - The difference between the Market Value and the Adjusted Prior Market Value. Adjusted Prior Market Value - A figure calculated using the beginning

Market Value for the fiscal year, adjusted for all asset related transactions during the period, employing an average cost methodology.

Amortization - The decrease in value of a premium bond until maturity.
Asset - Anything owned that has commercial exchange value. Assets may consist of specific property or of claims against others, in contrast to obligations due to others (liabilities).

Bond Rating - A measurement of a bond's quality based upon the issuer's financial condition. Ratings are assigned by independent rating services, such as Moody's, or S&P, and reflect their opinion of the issuer's ability to meet the scheduled interest and principal repayments for the bond.

Cash - Cash activity that includes both income and principal cash categories.

Change in Unrealized Gain/Loss - Also reported as Gain/Loss in Period in the Asset Detail section. This figure shows the market appreciation (depreciation) for the current period.

Cost Basis (Book Value) - The original price of an asset, normally the purchase price or appraised value at the time of acquisition. Book Value method maintains an average cost for each asset.

Cost Basis (Tax Basis) - The original price of an asset, normally the purchase price or appraised value at the time of acquisition. Tax Basis uses client determined methods such as Last-In-First-Out (LIFO), First-In-First-Out (FIFO), Average, Minimum Gain, and Maximum Gain. Ending Accrual - (Also reported as Accrued Income) Income earned but not yet received, or expenses incurred but not yet paid, as of the end of the reporting period.

Estimated Annual Income - The amount of income a particular asset is anticipated to earn over the next year. The shares multiplied by annual income rate.

Estimated Current Yield - The annual rate of return on an investment expressed as a percentage. For stocks, yield is calculated by taking the annual dividend payments divided by the stock's current share price. For bonds, yield is calculated by the coupon rate divided by the bond's market price.
Ex-Dividend Date - (Also reported as Ex-Date) For stock trades, the person who owns the security on the ex-dividend date will earn the dividend, regardless of who currently owns the stock.

Income Cash - A category of cash comprised of ordinary earnings derived from investments, usually dividends and interest.

Market Value - The price per unit multiplied by the number of units.
Maturity Date - The date on which an obligation or note matures. Payable Date - The date on which a dividend, mutual fund distribution, or interest on a bond will be made.

Principal Cash - A category of cash comprised of cash, deposits, cash withdrawals and the cash flows generated from purchases or sales of investments.

Realized Gain/Loss Calculation - The Proceeds less the Cost Basis of a transaction.

Settlement Date - The date on which a trade settles and cash or securities are credited or debited to the account.
Trade Date - The date a trade is legally entered into.
Unrealized Gain/Loss - The difference between the Market Value and Cost Basis at the end of the current period.

Yield on/at Market - The annual rate of return on an investment expressed as a percentage. For stocks, yield is calculated by the annual dividend payments divided by the stock's current share price.

For bonds, yield is calculated by the coupon rate divided by the bond's market price.

The terms defined in this glossary are only for use when reviewing your account statement. Please contact your Relationship Manager with any questions.

002824
-PH-152
U.S. Bank

1555 N. Rivercenter Dr. Suite 300
Milwaukee, WI 53212

FTTTAFTTAATDDATTDTTFTTTFDTAADATDTDTFDDTTTFDTAFDTADTADDFDDDFTAFATD

000001077 03 SP 000638848550624 P HACIENDA LAKES

REAL ESTATE ECONOMETRICS INC ATTN RUSS WEYER
707 ORCHID DR STE 100

NAPLES FL  34102-5014

10101010101010101010
10100101010011011011

10100111001010000010
10010011001000010101

10011100001001011110
10001110110000000101

10001001000101001000
10010111110011010101

11000100001110111100
11010010011100111101

10000000101100001000
10101001110010110011

10000011001111011100
10100110111011101111

10001010111001101000
10011110110100001001

10111000001010000110
11011000010111110101

10101010110110101010
11111111111111111111

DTFDFDDFTADAAAAAFAAAADDAATTDAAFDAADTTTTAAFAFATTFTDFFDDAAFFATFFDAF

000001078 03 SP	000638848550625 P

HACIENDA LAKES CDD SERIES 2016 ATTN RUSS WEYER DISTRICT MANAGER C/O REAL ESTATE ECONOMETRICS INC 707 ORCHID DR STE 100

NAPLES FL 34102-5014

00- -M -PH-PC -152-01	2825	
0181454-00-02507-01	Page 1 of 5	

ACCOUNT NUMBER: 228793000

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT (COLLIER COUNTY, FLORIDA) SPECIAL ASSESSMENT BONDS,

SERIES 2016 REVENUE

This statement is for the period from
May 1, 2018 to May 31, 2018

QUESTIONS?

If you have any questions regarding your account or this statement, please
contact your Account Manager or Analyst.

Account Manager:

JAMES J. AUDETTE
EX-FL-UORT
225 E. ROBINSON ST., SUITE 250 ORLANDO, FL 32801
Phone 407-835-3820
E-mail james.audette@usbank.com

Analyst:

PHUONG DO
Phone 651-466-6211

00- -M -PH-PC -152-01	00282501	2825	
0181454-00-02507-01	Page 2 of 5	

ACCOUNT NUMBER: 228793000
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS,
SERIES 2016
REVENUE

This statement is for the period from
May 1, 2018 to May 31, 2018

MARKET VALUE SUMMARY

	Current Period	
	05/01/18 to 05/31/18	
Beginning Market Value	$398,811.29	
Distributions	- 388,625.01	
		
Adjusted Market Value	$10,186.28	
Investment Results		
Interest, Dividends and Other Income	14.19	
		
Total Investment Results	$14.19	
		
Ending Market Value	$10,200.47	

10101010101010101010
10100101010110011011

10100111001010000010
10010011011010101101

10011100101001000110
10001111100001100001

10001010000100001000
10010000110011000111

11000100001111100110
11010010001100110101

10000000101010011000
10101001011010010011

10000011010010111100
10100100111100011111

10001110101101010100
10010011110001011001

10110101100001110110
11000100011011100101

10101001100110110010
11111111111111111111

00- -M -PH-PC -152-01	00282501	2825	
0181454-00-02507-01	Page 3 of 5	

ACCOUNT NUMBER: 228793000
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS,
SERIES 2016
REVENUE

This statement is for the period from
May 1, 2018 to May 31, 2018

ASSET DETAIL AS OF 05/31/18

Shares or	Security Description	Market Value/	Tax Cost/	% of Total	Est Ann Inc		
Face Amount		Price	Unit Cost	Yield at Market			
Cash Equivalents							
10,200.470	US Bank Mmkt 5 - Ct	10,200.47	10,200.47	100.0	25.50			
	9AMMF05B2	1.0000	1.00	.25				
							
Total Cash Equivalents	$10,200.47	$10,200.47	100.0	$25.50			
								
Cash								
	Principal Cash	- 47.94	- 47.94	- 0.5				
	Income Cash	47.94	47.94	0.5				
								
	Total Cash	$0.00	$0.00	0.0				

Total Assets	$10,200.47	$10,200.47	100.0	$25.50			

ASSET DETAIL MESSAGES

Time of trade execution and trading party (if not disclosed) will be provided upon request.

Publicly traded assets are valued in accordance with market quotations or valuation methodologies from financial industry services believed by us to be reliable. Assets that are not publicly traded may be reflected at values from other external sources. Assets for which a current value is not available may be reflected at a previous value or as not valued, at par value, or at a nominal value. Values shown do not necessarily reflect prices at which assets could be bought or sold. Values are updated based on internal policy and may be updated less frequently than statement generation.

For further information, please contact your Analyst.

** The Yield at Market set forth in this statement for any money market fund is based on the interest rate applicable to that money market fund as of the last business day of the statement period (or most recent daily rate available) and may not be relied upon as (i) a yield estimate for the statement period as a whole, or (ii) a guarantee of future performance.

	00- -M -PH-PC -152-01	00282501	2825		
	0181454-00-02507-01	Page 4 of 5	
	ACCOUNT NUMBER: 228793000			
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)	
	SPECIAL ASSESSMENT BONDS,			
	SERIES 2016					
	REVENUE					
	This statement is for the period from			
	May 1, 2018 to May 31, 2018			
						
	CASH SUMMARY					
						
	Income	Principal		Total	
	Cash	Cash		Cash	
Beginning Cash Balance as of 05/01/2018	$33.75	- $33.75		$.00		
Taxable Interest	14.19			14.19		
Cash Disbursements		- 388,625.01	- 388,625.01		
Net Money Market Activity		388,610.82		388,610.82		
						
Ending Cash Balance as of 05/31/2018	$47.94	- $47.94		$0.00		

10101010101010101010
10100101010101011011

10100111001010000010
10010011011000000101

10011100101001001010
10001111010001011001

10001010000101111100
10010000110110001101

11000100001011110000
11010010011000001101

10000000111011110000
10101000000100110011

10000010110100001100
10100000000001100011

10001010100001000000
10001010111110011001

10100111101100111100
11010001011000111101

10101000000110010010
11111111111111111111

		00- -M -PH-PC -152-01	00282501	2825	
		0181454-00-02507-01	Page 5 of 5	
		ACCOUNT NUMBER: 228793000		
		HACIENDA LAKES COMMUNITY DEVELOPMENT	
		DISTRICT (COLLIER COUNTY, FLORIDA)	
		SPECIAL ASSESSMENT BONDS,		
		SERIES 2016				
		REVENUE				
		This statement is for the period from		
		May 1, 2018 to May 31, 2018		
					
	TRANSACTION DETAIL				
						
Date		Income	Principal		Tax	
Posted	Description	Cash	Cash		Cost	
	Beginning Balance 05/01/2018	$33.75	- $33.75	$398,811.29	
05/01/18	Cash Disbursement		- 213,625.01			
	Paid To 228793003					
	Transfer To Another Trust					
	Transfer To Interest Account					
	Debt Service Due 5/1/2018 Pndo-56379					
05/01/18	Cash Disbursement		- 175,000.00			
	Paid To 228793004					
	Transfer To Another Trust					
	Transfer To Sinking Fund Account					
	Debt Service Due 5/1/2018 Pndo-56379					
05/01/18	Sold 388,625.01 Units Of		388,625.01	- 388,625.01	
	US Bank Mmkt 5 - Ct					
	Trade Date 5/1/18					
	9AMMF05B2					
05/01/18	Interest Earned On	14.19				
	US Bank Mmkt 5 - Ct					
	Interest From 4/1/18 To 4/30/18					
	9AMMF05B2					
05/02/18	Purchased 14.19 Units Of		- 14.19		14.19	
	US Bank Mmkt 5 - Ct					
	Trade Date 5/2/18					
	9AMMF05B2					
						
	Ending Balance 05/31/2018	$47.94	- $47.94		$10,200.47	

10101010101010101010
10100101010100011011

10100111001010000010
10010011011000011101

10011100101001000110
10001111000001010101

10001010000101000000
10010000110001111001

11000100001110000100
11010010000100111101

10000000111111100000
10101000111101100011

10000011000011101100
10100010001100010011

10001111110111001100
10001011111000000011

10101010101011100100
11001111111101110101

10101000000110101010
11111111111111111111

DTFDFDDFTADAAAAAFAAAADDAATTDAAFDAADTTTTAAFAFATTFTDFFDDAAFFATFFDAF

000001078 03 SP	000638848550625 P

HACIENDA LAKES CDD SERIES 2016 ATTN RUSS WEYER DISTRICT MANAGER C/O REAL ESTATE ECONOMETRICS INC 707 ORCHID DR STE 100

NAPLES FL 34102-5014

00- -M -PH-PC -152-01	2825	
0181456-00-02507-01	Page 1 of 5	

ACCOUNT NUMBER: 228793001

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT (COLLIER COUNTY, FLORIDA) SPECIAL ASSESSMENT BONDS,
SERIES 2016
ACQUISITION AND CONSTRUCTION

This statement is for the period from
May 1, 2018 to May 31, 2018

QUESTIONS?

If you have any questions regarding your account or this statement, please
contact your Account Manager or Analyst.

Account Manager:

JAMES J. AUDETTE
EX-FL-UORT
225 E. ROBINSON ST., SUITE 250 ORLANDO, FL 32801
Phone 407-835-3820
E-mail james.audette@usbank.com

Analyst:

PHUONG DO
Phone 651-466-6211

00- -M -PH-PC -152-01	00282501	2825	
0181456-00-02507-01	Page 2 of 5	

ACCOUNT NUMBER: 228793001
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS,
SERIES 2016
ACQUISITION AND CONSTRUCTION

This statement is for the period from
May 1, 2018 to May 31, 2018

MARKET VALUE SUMMARY

	Current Period	
	05/01/18 to 05/31/18	
Beginning Market Value	$635,249.66	
Contributions	123.12	
		
Adjusted Market Value	$635,372.78	
Investment Results		
Interest, Dividends and Other Income	129.66	
		
Total Investment Results	$129.66	
		
Ending Market Value	$635,502.44	

10101010101010101010
10100101010011011011

10100111001010000010
10010011011000010101

10011100101001001010
10001110110001111001

10001010000101110100
10010000110110100001

11000100001101101100
11010010000010111101

10000000100110000000
10101000011111111011

10000011000101011000
10100011010000011111

10001001001111110000
10000001010101010101

10100110000110011000
11011000111100110101

10101010100110101010
11111111111111111111

00- -M -PH-PC -152-01	00282501	2825	
0181456-00-02507-01	Page 3 of 5	

ACCOUNT NUMBER: 228793001
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS,
SERIES 2016
ACQUISITION AND CONSTRUCTION

This statement is for the period from
May 1, 2018 to May 31, 2018

ASSET DETAIL AS OF 05/31/18

Shares or	Security Description	Market Value/	Tax Cost/	% of Total	Est Ann Inc		
Face Amount		Price	Unit Cost	Yield at Market			
Cash Equivalents							
635,502.440	US Bank Mmkt 5 - Ct	635,502.44	635,502.44	100.0	1,588.76			
	9AMMF05B2	1.0000	1.00	.25				
							
Total Cash Equivalents	$635,502.44	$635,502.44	100.0	$1,588.76			
								
Cash								
	Principal Cash	- 3,661.88	- 3,661.88	- 0.6				
	Income Cash	3,661.88	3,661.88	0.6				
								
	Total Cash	$0.00	$0.00	0.0				

Total Assets	$635,502.44	$635,502.44	100.0	$1,588.76			

ASSET DETAIL MESSAGES

Time of trade execution and trading party (if not disclosed) will be provided upon request.

Publicly traded assets are valued in accordance with market quotations or valuation methodologies from financial industry services believed by us to be reliable. Assets that are not publicly traded may be reflected at values from other external sources. Assets for which a current value is not available may be reflected at a previous value or as not valued, at par value, or at a nominal value. Values shown do not necessarily reflect prices at which assets could be bought or sold. Values are updated based on internal policy and may be updated less frequently than statement generation.

For further information, please contact your Analyst.

** The Yield at Market set forth in this statement for any money market fund is based on the interest rate applicable to that money market fund as of the last business day of the statement period (or most recent daily rate available) and may not be relied upon as (i) a yield estimate for the statement period as a whole, or (ii) a guarantee of future performance.

	00- -M -PH-PC -152-01	00282501	2825		
	0181456-00-02507-01	Page 4 of 5	
	ACCOUNT NUMBER: 228793001			
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)	
	SPECIAL ASSESSMENT BONDS,			
	SERIES 2016					
	ACQUISITION AND CONSTRUCTION			
	This statement is for the period from			
	May 1, 2018 to May 31, 2018			
						
	CASH SUMMARY					
						
	Income	Principal		Total	
	Cash	Cash		Cash	
Beginning Cash Balance as of 05/01/2018	$3,532.22	- $3,532.22		$.00		
Taxable Interest	129.66			129.66		
Cash Receipts		123.12		123.12		
Net Money Market Activity		- 252.78		- 252.78		
						
Ending Cash Balance as of 05/31/2018	$3,661.88	- $3,661.88		$0.00		

10101010101010101010
10100101010010011011

10100111001010000010
10010011011000001101

10011100101001000110
10001110100001110101

10001010000101001000
10010000110001010101

11000100001000011000
11010010011110001101

10000000100010010000
10101000100110101011

10000010110010111000
10100001011101101111

10001100011001111100
10000000010011001111

10101011000001000000
11000110011001111101

10101010100110010010
11111111111111111111

		00- -M -PH-PC -152-01	00282501	2825	
		0181456-00-02507-01	Page 5 of 5	
		ACCOUNT NUMBER: 228793001		
		HACIENDA LAKES COMMUNITY DEVELOPMENT	
		DISTRICT (COLLIER COUNTY, FLORIDA)		
		SPECIAL ASSESSMENT BONDS,		
		SERIES 2016				
		ACQUISITION AND CONSTRUCTION		
		This statement is for the period from		
		May 1, 2018 to May 31, 2018		
						
		TRANSACTION DETAIL				
						
Date		Income	Principal		Tax	
Posted	Description	Cash	Cash		Cost	
	Beginning Balance 05/01/2018	$3,532.22	- $3,532.22	$635,249.66	
05/01/18	Interest Earned On	129.66				
	US Bank Mmkt 5 - Ct					
	Interest From 4/1/18 To 4/30/18					
	9AMMF05B2					
05/02/18	Cash Receipt		123.12			
	Transfer From Another Trust					
	Paid From Account # 228793005					
	1					
05/02/18	Purchased 252.78 Units Of		- 252.78		252.78	
	US Bank Mmkt 5 - Ct					
	Trade Date 5/2/18					
	9AMMF05B2					
					
	Ending Balance 05/31/2018	$3,661.88	- $3,661.88	$635,502.44	

10101010101010101010
10100101010001011011

10100111001010000010
10010011011000000101

10011100101001000110
10001110010001110101

10001010000100001100
10010000110001000011

11000100001011011110
11010010010111110101

10000000111110001000
10101001111001011011

10000010101010001000
10100101011001001011

10001011100010101100
10000011010010101001

10111001000100110010
11000001111011101101

10101010100110011010
11111111111111111111

DTFDFDDFTADAAAAAFAAAADDAATTDAAFDAADTTTTAAFAFATTFTDFFDDAAFFATFFDAF

000001078 03 SP	000638848550625 P

HACIENDA LAKES CDD SERIES 2016 ATTN RUSS WEYER DISTRICT MANAGER C/O REAL ESTATE ECONOMETRICS INC 707 ORCHID DR STE 100

NAPLES FL 34102-5014

00- -M -PH-PC -152-01	2825	
0181460-00-02507-01	Page 1 of 5	

ACCOUNT NUMBER: 228793003

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT (COLLIER COUNTY, FLORIDA) SPECIAL ASSESSMENT BONDS,

SERIES 2016 INTEREST

This statement is for the period from
May 1, 2018 to May 31, 2018

QUESTIONS?

If you have any questions regarding your account or this statement, please
contact your Account Manager or Analyst.

Account Manager:

JAMES J. AUDETTE
EX-FL-UORT
225 E. ROBINSON ST., SUITE 250 ORLANDO, FL 32801
Phone 407-835-3820
E-mail james.audette@usbank.com

Analyst:

PHUONG DO
Phone 651-466-6211

	00- -M -PH-PC -152-01	00282501	2825	
	0181460-00-02507-01	Page 2 of 5	
	ACCOUNT NUMBER: 228793003		
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)		
	SPECIAL ASSESSMENT BONDS,		
	SERIES 2016			
	INTEREST			
	This statement is for the period from		
	May 1, 2018 to May 31, 2018		
				
	MARKET VALUE SUMMARY			
				
	Current Period			
	05/01/18 to 05/31/18			
Beginning Market Value	$0.00			
Contributions	213,625.01			
Distributions	- 213,625.01			
				
Adjusted Market Value	$0.00			
				
Ending Market Value	$0.00			

10101010101010101010
10100101010000011011

10100111001010000010
10010011011000011101

10011100101001001010
10001110000001111001

10001010000100110000
10010000110110110111

11000100001110101010
11010010001011000101

10000000111010011000
10101001000000001011

10000011011101101000
10100111010100111011

10001110110100100000
10000010010100110011

10110100000011101010
11011111011110100101

10101010100110100010
11111111111111111111

00- -M -PH-PC -152-01	00282501	2825	
0181460-00-02507-01	Page 3 of 5	

ACCOUNT NUMBER: 228793003
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS,
SERIES 2016
INTEREST

This statement is for the period from
May 1, 2018 to May 31, 2018

ASSET DETAIL MESSAGES

No reportable  securities  for this statement  period

	00- -M -PH-PC -152-01	00282501	2825		
	0181460-00-02507-01	Page 4 of 5	
	ACCOUNT NUMBER: 228793003			
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)	
	SPECIAL ASSESSMENT BONDS,			
	SERIES 2016					
	INTEREST					
	This statement is for the period from			
	May 1, 2018 to May 31, 2018			
						
	CASH SUMMARY					
						
	Income	Principal		Total	
	Cash	Cash		Cash	
Beginning Cash Balance as of 05/01/2018	$.00	$.00		$.00		
Cash ACH Disbursements		- 213,625.01	- 213,625.01		
Cash Receipts		213,625.01		213,625.01		
						
Ending Cash Balance as of 05/31/2018	$0.00	$0.00		$0.00		

10101010101010101010
10100101010111011011

10100111001010000010
10010011011000010101

10011100011001001010
10001111110001111001

10001010000101000000
10010000110101110101

11000100001011110110
11010010001000011101

10000000111100001000
10101000111101100011

10000011000011110000
10100110011010011111

10001000010001001100
10000000101110110011

10111111011010110100
11010101111010011101

10101010000010000010
11111111111111111111

		00- -M -PH-PC -152-01	00282501	2825	
		0181460-00-02507-01	Page 5 of 5	
		ACCOUNT NUMBER: 228793003		
		HACIENDA LAKES COMMUNITY DEVELOPMENT	
		DISTRICT (COLLIER COUNTY, FLORIDA)		
		SPECIAL ASSESSMENT BONDS,		
		SERIES 2016				
		INTEREST				
		This statement is for the period from		
		May 1, 2018 to May 31, 2018		
					
	TRANSACTION DETAIL				
						
Date		Income	Principal		Tax	
Posted	Description	Cash	Cash		Cost	
	Beginning Balance 05/01/2018	$.00	$.00		$0.00	
05/01/18	Cash Receipt		213,625.01			
	Transfer From Another Trust					
	Transfer From Revenue Account					
	Debt Service Due 5/1/2018 Pndo-56379					
05/01/18	Cash Disbursement		- 213,625.01			
	Paid To Denverac1					
	ACH Transfer To Checking Acct					
	Hacienda2016					
	Debt Service Interest Payment Due 5/1/2018					
	Pndo-56379					
						
	Ending Balance 05/31/2018	$0.00	$0.00		$0.00	

10101010101010101010
10100101010110011011

10100111001010000010
10010011011000001101

10011100011001000110
10001111100001110101

10001010000101111100
10010000110010000001

11000100001110000010
11010010010100101101

10000000111000011000
10101000000100110011

10000010110100010000
10100100010111101111

10001101000111000000
10000001101000101001

10110010011101101100
11001011011111010101

10101010000010111010
11111111111111111111

DTFDFDDFTADAAAAAFAAAADDAATTDAAFDAADTTTTAAFAFATTFTDFFDDAAFFATFFDAF

000001078 03 SP	000638848550625 P

HACIENDA LAKES CDD SERIES 2016 ATTN RUSS WEYER DISTRICT MANAGER C/O REAL ESTATE ECONOMETRICS INC 707 ORCHID DR STE 100

NAPLES FL 34102-5014

00- -M -PH-PC -152-01	2825	
0181462-00-02507-01	Page 1 of 5	

ACCOUNT NUMBER: 228793004

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT (COLLIER COUNTY, FLORIDA) SPECIAL ASSESSMENT BONDS,

SERIES 2016 SINKING FUND

This statement is for the period from
May 1, 2018 to May 31, 2018

QUESTIONS?

If you have any questions regarding your account or this statement, please
contact your Account Manager or Analyst.

Account Manager:

JAMES J. AUDETTE
EX-FL-UORT
225 E. ROBINSON ST., SUITE 250 ORLANDO, FL 32801
Phone 407-835-3820
E-mail james.audette@usbank.com

Analyst:

PHUONG DO
Phone 651-466-6211

	00- -M -PH-PC -152-01	00282501	2825	
	0181462-00-02507-01	Page 2 of 5	
	ACCOUNT NUMBER: 228793004		
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)		
	SPECIAL ASSESSMENT BONDS,		
	SERIES 2016			
	SINKING FUND			
	This statement is for the period from		
	May 1, 2018 to May 31, 2018		
				
	MARKET VALUE SUMMARY			
				
	Current Period			
	05/01/18 to 05/31/18			
Beginning Market Value	$0.00			
Contributions	175,000.00			
Distributions	- 175,000.00			
				
Adjusted Market Value	$0.00			
				
Ending Market Value	$0.00			

10101010101010101010
10100101010101011011

10100111001010000010
10010011011000000101

10011100011001000110
10001111010001110101

10001010000100111000
10010000110010010111

11000100001101000100
11010010011101010101

10000000100100000000
10101001011011000011

10000010101100100000
10100000010011001011

10001010111100010000
10000010101001001111

10100000011000011110
11001100111101000101

10101010000010110010
11111111111111111111

00- -M -PH-PC -152-01	00282501	2825	
0181462-00-02507-01	Page 3 of 5	

ACCOUNT NUMBER: 228793004
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS,
SERIES 2016
SINKING FUND

This statement is for the period from
May 1, 2018 to May 31, 2018

ASSET DETAIL MESSAGES

No reportable  securities  for this statement  period

	00- -M -PH-PC -152-01	00282501	2825		
	0181462-00-02507-01	Page 4 of 5	
	ACCOUNT NUMBER: 228793004			
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)	
	SPECIAL ASSESSMENT BONDS,			
	SERIES 2016					
	SINKING FUND					
	This statement is for the period from			
	May 1, 2018 to May 31, 2018			
						
	CASH SUMMARY					
						
	Income	Principal		Total	
	Cash	Cash		Cash	
Beginning Cash Balance as of 05/01/2018	$.00	$.00		$.00		
Cash ACH Disbursements		- 175,000.00	- 175,000.00		
Cash Receipts		175,000.00		175,000.00		
						
Ending Cash Balance as of 05/31/2018	$0.00	$0.00		$0.00		

10101010101010101010
10100101010100011011

10100111001010000010
10010011011000011101

10011100011001001010
10001111000001111001

10001010000100000100
10010000110101100011

11000100001000110000
11010010000001100101

10000000100000010000
10101001100010010011

10000011011011000000
10100010011110111011

10001111101010011100
10000011101111010101

10101101011111000110
11010010011000001101

10101010000010001010
11111111111111111111

		00- -M -PH-PC -152-01	00282501	2825	
		0181462-00-02507-01	Page 5 of 5	
		ACCOUNT NUMBER: 228793004		
		HACIENDA LAKES COMMUNITY DEVELOPMENT	
		DISTRICT (COLLIER COUNTY, FLORIDA)		
		SPECIAL ASSESSMENT BONDS,		
		SERIES 2016				
		SINKING FUND			
		This statement is for the period from		
		May 1, 2018 to May 31, 2018		
					
	TRANSACTION DETAIL				
						
Date		Income	Principal		Tax	
Posted	Description	Cash	Cash		Cost	
	Beginning Balance 05/01/2018	$.00	$.00		$0.00	
05/01/18	Cash Receipt		175,000.00			
	Transfer From Another Trust					
	Transfer From Revenue Account					
	Debt Service Due 5/1/2018 Pndo-56379					
05/01/18	Cash Disbursement		- 175,000.00			
	Paid To Denverac1					
	ACH Transfer To Checking Acct					
	Hacienda2016					
	Debt Service Principal Payment Due 5/1/2018					
	Pndo-56379					
						
	Ending Balance 05/31/2018	$0.00	$0.00		$0.00	

10101010101010101010
10100101010011011011

10100111001010000010
10010011011000010101

10011100011001000110
10001110110001010101

10001010000100110000
10010000110010111011

11000100001011011000
11010010000111100101

10000000111001110000
10101001000000001011

10000011011101110100
10100011000010110111

10001001010010100000
10001001000010000011

10100001110010111010
11000101011001001101

10101000100010001010
11111111111111111111

DTFDFDDFTADAAAAAFAAAADDAATTDAAFDAADTTTTAAFAFATTFTDFFDDAAFFATFFDAF

000001078 03 SP	000638848550625 P

HACIENDA LAKES CDD SERIES 2016 ATTN RUSS WEYER DISTRICT MANAGER C/O REAL ESTATE ECONOMETRICS INC 707 ORCHID DR STE 100

NAPLES FL 34102-5014

00- -M -PH-PC -152-01	2825	
0181464-00-02507-01	Page 1 of 5	

ACCOUNT NUMBER: 228793005

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT (COLLIER COUNTY, FLORIDA) SPECIAL ASSESSMENT BONDS,
SERIES 2016
DEBT SERVICE RESERVE

This statement is for the period from
May 1, 2018 to May 31, 2018

QUESTIONS?

If you have any questions regarding your account or this statement, please
contact your Account Manager or Analyst.

Account Manager:

JAMES J. AUDETTE
EX-FL-UORT
225 E. ROBINSON ST., SUITE 250 ORLANDO, FL 32801
Phone 407-835-3820
E-mail james.audette@usbank.com

Analyst:

PHUONG DO
Phone 651-466-6211

00- -M -PH-PC -152-01	00282501	2825	
0181464-00-02507-01	Page 2 of 5	

ACCOUNT NUMBER: 228793005
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS,
SERIES 2016
DEBT SERVICE RESERVE

This statement is for the period from
May 1, 2018 to May 31, 2018

MARKET VALUE SUMMARY

	Current Period	
	05/01/18 to 05/31/18	
Beginning Market Value	$603,221.88	
Distributions	- 123.12	
		
Adjusted Market Value	$603,098.76	
Investment Results		
Interest, Dividends and Other Income	123.12	
		
Total Investment Results	$123.12	
		
Ending Market Value	$603,221.88	

10101010101010101010
10100101010010011011

10100111001010000010
10010011011000001101

10011100011001001010
10001110100001011001

10001010000100001100
10010000110101001111

11000100001110101100
11010010011011010101

10000000111101100000
10101001111001011011

10000010101010010100
10100001001111000111

10001100000100101100
10001000000100011001

10101100110101100010
11011011111100000101

10101000100010110010
11111111111111111111

			00- -M -PH-PC -152-01	00282501	2825			
			0181464-00-02507-01	Page 3 of 5		
			ACCOUNT NUMBER: 228793005					
			HACIENDA LAKES COMMUNITY DEVELOPMENT		
			DISTRICT (COLLIER COUNTY, FLORIDA)		
			SPECIAL ASSESSMENT BONDS,					
			SERIES 2016						
			DEBT SERVICE RESERVE						
			This statement is for the period from					
			May 1, 2018 to May 31, 2018					
								
		ASSET DETAIL AS OF 05/31/18						
									
Shares or	Security Description	Market Value/	Tax Cost/	% of Total		Est Ann Inc		
Face Amount		Price	Unit CostYield at Market				
Cash Equivalents								
603,221.880US Bank Mmkt 5 - Ct	603,221.88	603,221.88	100.0		1,508.05			
	9AMMF05B2	1.0000	1.00	.25					
								
Total Cash Equivalents	$603,221.88	$603,221.88	100.0		$1,508.05			

Total Assets	$603,221.88	$603,221.88	100.0		$1,508.05			

ASSET DETAIL MESSAGES

Time of trade execution and trading party (if not disclosed) will be provided upon request.

Publicly traded assets are valued in accordance with market quotations or valuation methodologies from financial industry services believed by us to be reliable. Assets that are not publicly traded may be reflected at values from other external sources. Assets for which a current value is not available may be reflected at a previous value or as not valued, at par value, or at a nominal value. Values shown do not necessarily reflect prices at which assets could be bought or sold. Values are updated based on internal policy and may be updated less frequently than statement generation.

For further information, please contact your Analyst.

** The Yield at Market set forth in this statement for any money market fund is based on the interest rate applicable to that money market fund as of the last business day of the statement period (or most recent daily rate available) and may not be relied upon as (i) a yield estimate for the statement period as a whole, or (ii) a guarantee of future performance.

	00- -M -PH-PC -152-01	00282501	2825		
	0181464-00-02507-01	Page 4 of 5	
	ACCOUNT NUMBER: 228793005			
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)	
	SPECIAL ASSESSMENT BONDS,			
	SERIES 2016					
	DEBT SERVICE RESERVE				
	This statement is for the period from			
	May 1, 2018 to May 31, 2018			
						
	CASH SUMMARY					
						
	Income	Principal		Total	
	Cash	Cash		Cash	
Beginning Cash Balance as of 05/01/2018	$.00	$.00		$.00		
Taxable Interest	123.12			123.12		
Cash Disbursements	- 123.12			- 123.12		
						
Ending Cash Balance as of 05/31/2018	$0.00	$0.00		$0.00		

10101010101010101010
10100101010001011011

10100111001010000010
10010011011000000101

10011100011001001010
10001110010001011001

10001010000101001000
10010000110101011001

11000100001101101010
11010010010010101101

10000000100001111000
10101000100110101011

10000010110010100100
10100101001011100011

10001011111111111100
10001011000101111111

10111110110000010000
11011100011110010101

10101000100010111010
11111111111111111111

		00- -M -PH-PC -152-01	00282501	2825	
		0181464-00-02507-01	Page 5 of 5	
		ACCOUNT NUMBER: 228793005		
		HACIENDA LAKES COMMUNITY DEVELOPMENT	
		DISTRICT (COLLIER COUNTY, FLORIDA)		
		SPECIAL ASSESSMENT BONDS,		
		SERIES 2016				
		DEBT SERVICE RESERVE			
		This statement is for the period from		
		May 1, 2018 to May 31, 2018		
						
		TRANSACTION DETAIL				
						
Date		Income	Principal		Tax	
Posted	Description	Cash	Cash		Cost	
	Beginning Balance 05/01/2018	$.00	$.00	$603,221.88	
05/01/18	Interest Earned On	123.12				
	US Bank Mmkt 5 - Ct					
	Interest From 4/1/18 To 4/30/18					
	9AMMF05B2					
05/02/18	Cash Disbursement	- 123.12				
	Paid To Account # 22879300					
	Transfer To Another Trust					
	1					
					
	Ending Balance 05/31/2018	$0.00	$0.00	$603,221.88	

10101010101010101010
10100101010000011011

10100111001010000010
10010011011000011101

10011100011001000110
10001110000001010101

10001010000101110100
10010000110010101101

11000100001000011110
11010010001110011101

10000000100101101000
10101000011111111011

10000011000101000100
10100111000110010011

10001110101001110000
10001010000011100101

10110011110111001000
11000010111011011101

10101000100010000010
11111111111111111111

DTFDFDDFTADAAAAAFAAAADDAATTDAAFDAADTTTTAAFAFATTFTDFFDDAAFFATFFDAF

000001078 03 SP	000638848550625 P

HACIENDA LAKES CDD SERIES 2016 ATTN RUSS WEYER DISTRICT MANAGER C/O REAL ESTATE ECONOMETRICS INC 707 ORCHID DR STE 100

NAPLES FL 34102-5014

00- -M -PH-PC -152-01	2825	
0181466-00-02507-01	Page 1 of 3	

ACCOUNT NUMBER: 228793006

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT (COLLIER COUNTY, FLORIDA) SPECIAL ASSESSMENT BONDS,
SERIES 2016
PREPAYMENT

This statement is for the period from
May 1, 2018 to May 31, 2018

QUESTIONS?

If you have any questions regarding your account or this statement, please
contact your Account Manager or Analyst.

Account Manager:

JAMES J. AUDETTE
EX-FL-UORT
225 E. ROBINSON ST., SUITE 250 ORLANDO, FL 32801
Phone 407-835-3820
E-mail james.audette@usbank.com

Analyst:

PHUONG DO
Phone 651-466-6211

	00- -M -PH-PC -152-01	002825012825	
	0181466-00-02507-01	Page 2 of 3	
	ACCOUNT NUMBER: 228793006	
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)	
	SPECIAL ASSESSMENT BONDS,	
	SERIES 2016		
	PREPAYMENT		
	This statement is for the period from	
	May 1, 2018 to May 31, 2018	
			
	MARKET VALUE SUMMARY		
			
	Current Period		
	05/01/18 to 05/31/18		
Beginning Market Value	$0.00		
			
Ending Market Value	$0.00		
			
	MARKET VALUE SUMMARY MESSAGES		

No activity qualifies for this statement period.

10101010101010101010
10100101010111011011

10100111001010000010
10010011011000001101

10011100001001000110
10001111110001101001

10001010000101011000
10010000110011101011

11000100001100011110
11010010010101011101

10000000100011011000
10101001011011010011

10000010010101100000
10100000000011101011

10001010011101110000
10011101101011100001

10111100110000101000
11011000010110100101

10101011111110110010
11111111111111111111

00- -M -PH-PC -152-01	00282501	2825	
0181466-00-02507-01	Page 3 of 3	

ACCOUNT NUMBER: 228793006
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS,
SERIES 2016
PREPAYMENT

This statement is for the period from
May 1, 2018 to May 31, 2018

ASSET DETAIL MESSAGES

No reportable  securities  for this statement  period

10101010101010101010
10100101010110011011

10100111001010000010
10010011011000010101

10011100001001001010
10001111100001100101

10001010000101100100
10010000110100011111

11000100001001101010
11010010001001101101

10000000100111001000
10101001100010000011

10000011100010000000
10100010001110011011

10001111001011111100
10011100101101111011

10110001110111110000
11000110110011101101

10101011111110001010
11111111111111111111

DTFDFDDFTADAAAAAFAAAADDAATTDAAFDAADTTTTAAFAFATTFTDFFDDAAFFATFFDAF

000001078 03 SP	000638848550625 P

HACIENDA LAKES CDD SERIES 2016 ATTN RUSS WEYER DISTRICT MANAGER C/O REAL ESTATE ECONOMETRICS INC 707 ORCHID DR STE 100

NAPLES FL 34102-5014

00- -M -PH-PC -152-01	2825	
0181468-00-02507-01	Page 1 of 3	

ACCOUNT NUMBER: 228793007

HACIENDA LAKES COMMUNITY DEVELOPMENT DISTRICT (COLLIER COUNTY, FLORIDA) SPECIAL ASSESSMENT BONDS,

SERIES 2016 GENERAL

This statement is for the period from
May 1, 2018 to May 31, 2018

QUESTIONS?

If you have any questions regarding your account or this statement, please
contact your Account Manager or Analyst.

Account Manager:

JAMES J. AUDETTE
EX-FL-UORT
225 E. ROBINSON ST., SUITE 250 ORLANDO, FL 32801
Phone 407-835-3820
E-mail james.audette@usbank.com

Analyst:

PHUONG DO
Phone 651-466-6211

	00- -M -PH-PC -152-01	002825012825	
	0181468-00-02507-01	Page 2 of 3	
	ACCOUNT NUMBER: 228793007	
	HACIENDA LAKES COMMUNITY DEVELOPMENT	
	DISTRICT (COLLIER COUNTY, FLORIDA)	
	SPECIAL ASSESSMENT BONDS,	
	SERIES 2016		
	GENERAL		
	This statement is for the period from	
	May 1, 2018 to May 31, 2018	
			
	MARKET VALUE SUMMARY		
			
	Current Period		
	05/01/18 to 05/31/18		
Beginning Market Value	$0.00		
			
Ending Market Value	$0.00		
			
	MARKET VALUE SUMMARY MESSAGES		

No activity qualifies for this statement period.

10101010101010101010
10100101010101011011

10100111001010000010
10010011011000011101

10011100001001001010
10001111010001100101

10001010000100100000
10010000110100001001

11000100001010101100
11010010000000010101

10000000111011010000
10101000111101110011

10000011111010110000
10100110001010111111

10001000110000101100
10011111101100011101

10100011110010000010
11000001010001111101

10101011111110000010
11111111111111111111

00- -M -PH-PC -152-01	00282501	2825	
0181468-00-02507-01	Page 3 of 3	

ACCOUNT NUMBER: 228793007
HACIENDA LAKES COMMUNITY DEVELOPMENT
DISTRICT (COLLIER COUNTY, FLORIDA)
SPECIAL ASSESSMENT BONDS,
SERIES 2016
GENERAL

This statement is for the period from
May 1, 2018 to May 31, 2018

ASSET DETAIL MESSAGES

No reportable  securities  for this statement  period

10101010101010101010
10100101010100011011

10100111001010000010
10010011011000000101

10011100001001000110
10001111000001101001

10001010000100011100
10010000110011111101

11000100001111011000
11010010011100100101

10000000111111000000
10101000000100100011

10000010001101010000
10100100000111001111

10001101100110100000
10011110101010000111

10101110110101011010
11011111110100110101

10101011111110111010
11111111111111111111

Glossary

Accretion - The accumulation of the value of a discounted bond until maturity.

Adjusted Prior Market Realized Gain/Loss - The difference between the proceeds and the Prior Market Value of the transaction.

Adjusted Prior Market Unrealized Gain/Loss - The difference between the Market Value and the Adjusted Prior Market Value. Adjusted Prior Market Value - A figure calculated using the beginning

Market Value for the fiscal year, adjusted for all asset related transactions during the period, employing an average cost methodology.

Amortization - The decrease in value of a premium bond until maturity.
Asset - Anything owned that has commercial exchange value. Assets may consist of specific property or of claims against others, in contrast to obligations due to others (liabilities).

Bond Rating - A measurement of a bond's quality based upon the issuer's financial condition. Ratings are assigned by independent rating services, such as Moody's, or S&P, and reflect their opinion of the issuer's ability to meet the scheduled interest and principal repayments for the bond.

Cash - Cash activity that includes both income and principal cash categories.

Change in Unrealized Gain/Loss - Also reported as Gain/Loss in Period in the Asset Detail section. This figure shows the market appreciation (depreciation) for the current period.

Cost Basis (Book Value) - The original price of an asset, normally the purchase price or appraised value at the time of acquisition. Book Value method maintains an average cost for each asset.

Cost Basis (Tax Basis) - The original price of an asset, normally the purchase price or appraised value at the time of acquisition. Tax Basis uses client determined methods such as Last-In-First-Out (LIFO), First-In-First-Out (FIFO), Average, Minimum Gain, and Maximum Gain. Ending Accrual - (Also reported as Accrued Income) Income earned but not yet received, or expenses incurred but not yet paid, as of the end of the reporting period.

Estimated Annual Income - The amount of income a particular asset is anticipated to earn over the next year. The shares multiplied by annual income rate.

Estimated Current Yield - The annual rate of return on an investment expressed as a percentage. For stocks, yield is calculated by taking the annual dividend payments divided by the stock's current share price. For bonds, yield is calculated by the coupon rate divided by the bond's market price.
Ex-Dividend Date - (Also reported as Ex-Date) For stock trades, the person who owns the security on the ex-dividend date will earn the dividend, regardless of who currently owns the stock.

Income Cash - A category of cash comprised of ordinary earnings derived from investments, usually dividends and interest.

Market Value - The price per unit multiplied by the number of units.
Maturity Date - The date on which an obligation or note matures. Payable Date - The date on which a dividend, mutual fund distribution, or interest on a bond will be made.

Principal Cash - A category of cash comprised of cash, deposits, cash withdrawals and the cash flows generated from purchases or sales of investments.

Realized Gain/Loss Calculation - The Proceeds less the Cost Basis of a transaction.

Settlement Date - The date on which a trade settles and cash or securities are credited or debited to the account.
Trade Date - The date a trade is legally entered into.
Unrealized Gain/Loss - The difference between the Market Value and Cost Basis at the end of the current period.

Yield on/at Market - The annual rate of return on an investment expressed as a percentage. For stocks, yield is calculated by the annual dividend payments divided by the stock's current share price.

For bonds, yield is calculated by the coupon rate divided by the bond's market price.

The terms defined in this glossary are only for use when reviewing your account statement. Please contact your Relationship Manager with any questions.

002825
-PH-152
U.S. Bank

1555 N. Rivercenter Dr. Suite 300
Milwaukee, WI 53212

DTFDFDDFTADAAAAAFAAAADDAATTDAAFDAADTTTTAAFAFATTFTDFFDDAAFFATFFDAF

000001078 03 SP 000638848550625 P HACIENDA LAKES CDD SERIES 2016

ATTN RUSS WEYER DISTRICT MANAGER C/O REAL ESTATE ECONOMETRICS INC
707 ORCHID DR STE 100

NAPLES FL 34102-5014

10101010101010101010
10100101010011011011

10100111001010000010
10010011011000001101

10011100001001001010
10001110110001000101

10001010000100101000
10010000110100100101

11000100001100110000
11010010011010100101

10000000100110100000
10101000100110111011

10000010001011100100
10100101011011000011

10001011011110011100
10010100000111010001

10100010011000100110
11001000110101110101

10101001011110111010
11111111111111111111

EXHIBIT 5.