CAPTAIN’S KEY DEPENDENT DISTRICT

PALM BEACH COUNTY REGULAR BOARD MEETING MARCH 14, 2023
6:00 P.M.

Special District Services, Inc.
The Oaks Center 2501A Burns Road
Palm Beach Gardens, FL 33410

www.captainskeydd.org 561.630.4922 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA
CAPTAIN’S KEY DEPENDENT DISTRICT
The Oaks Center at 2501A Burns Road, Palm Beach Gardens
Florida 33410
REGULAR BOARD MEETING
March 14, 2023
6:00 p.m.

Call to Order
Proof of Publication…	Page 1
Seat New Board Members
Administer Oath of Office & Review Board Member Responsibilities and Duties
Establish Quorum
Election of Officers
Chairman
Vice Chairman
Secretary/Treasurer
Assistant Secretaries
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
1.  November 8, 2022 Regular Board Meeting…	Page 2
Old Business
1.  Discussion Regarding Captains Landing Cul-De-Sac Drainage Repair
New Business
Consider Proposal for Additional Polymer Stabilization	Page 6
Consider Resolution No. 2023-01 – Adopting a Fiscal Year 2023/2024 Proposed Budget…	Page 9
Administrative Matters
Financial Report…	Page 15
Consider Invoices…	Page 19
Board Members Comments
Adjourn

PALM BEACH

STATE OF FLORIDA COUNTY OF PALM BEACH:

Before the undersigned authority personally appeared ANGELINA GARAY, who on oath says that he or she is the LEGAL CLERK, Legal Notices of the Palm Beach Daily Business Review f/k/a Palm Beach Review, a daily (except Saturday, Sunday  and Legal Holidays) newspaper, published at West Palm Beach in Palm Beach County, Florida; that the attached copy of advertisement, being a Legal Advertisement of Notice in the matter of

CAPTAIN'S KEY DEPENDENT DISTRICT - NOTICE IS HEREBY GIVEN THAT THE BOARQ OF SUPERVISORS OF THE CAPTAINS KEY COMMUNITY DEPENDENT DISTRICT WILL HOLD REGULAR MEETINGS AT THE OAKS CENTER AT 2501A BURNS ROAD, PALM BEACH GARDENS, ETC.

in the XXXX Court,
was published in said newspaper by print in the issues of and/or by publication on the newspaper's website, if authorized, on

09/30/2022

Affiant further says that the newspaper complies with all legal requirements for publication in chapter 50, Florida Statutes.

(\SEALj
ANGELINA GARAY personally known to me

CAPTAIN'S KEY DEPENDENT
DISTRICT FISCAi. YEAR 2022/2023
REGULAR MEfflNG SCHEDULE
NOTICE IS 1-JEREBY GIVEN lhat the
Board of Supervisors of the Captain's Key Community Dependent District will hold Regular Meetings at The Oaks Center at 2501A Bums Road Palm Beach Gardens, Florida 33410 at 6:00 p.m. on the following dales:
October 11, 2022
November 8, 2022
December 13, 2022
Janua,y 10, 2023
February 14, 2023
March 14, 2023
April 11, 2023

May 9, 2023
June 13, 2023
July 11, 2023
August 8, 2023
September 12, 2023
The purpose of the meetings is to conduct and all business coming before the Board. Copies of the Agenda for !ll7Y of the meetings may be obtaJned from the District's website or by contacting the District Manager at (561) 630-4ll22 and/or toll free at 1-877-737-4922 prior to the date of 1he particular meeting. Said meet­ ings may be continued from time to
time to a time and date certain as
stated on the record.
From time to time one or two Supervisors may participate by tele­ phone; 1herefore a speaker telephone will be present at the meeting loca­ tion so that Supervisors may be fully Informed of the	taking plaoe.

such per.;on will need a record of the proceedings and such person may need to ensure that a veroatim record of the proceedings is made at his or her own expense and Which record Includes the testimony and evidence on which the appeal Is based.
In accordance with the provisions of the Americans with Dlsablllties Act, any person requiring special accommodations or an Interpreter to participate at any of these meet ngs should contact the District Managl!f at (561) 630·4922 and/or toll-free at 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.
Meetings may be cancelled from time to lime without advertised notice.
CAPTAIN'S KEY DEPENDENT DISTRICT
www.captaln_skeydd.org
9/30	22-04/0000622527P

If any person decides to appeal any decision made with respect to any matter considered at these meeltngs,

CAPTAIN’S KEY DEPENDENT DISTRICT REGULAR BOARD MEETING NOVEMBER 8, 2022

CALL TO ORDER

District Manager Jason Pierman called the November 8, 2022, Regular Board Meeting of the Captain’s Key Dependent District (the “District”) to order at 6:05 p.m. at The Oaks Center located at 2501A Burns Road, Palm Beach Gardens, Florida 33410.

PROOF OF PUBLICATION

Mr. Pierman presented proof of publication that notice of the Regular Board Meeting had been published in the Palm Beach Daily Business Review on October 1, 2021, as part of the District’s Fiscal Year 2021/2022 Meeting Schedule, as legally required.

ESTABLISH A QUORUM

Mr. Pierman determined that the attendance of Chairman John Banister, Vice Chairman Russell Jones, Supervisor Trey Mahoney, Supervisor Yeffry Jave, and Supervisor Judge Moss constituted a quorum and it was in order to proceed with the meeting.

Staff in attendance included: District Manager Jason Pierman and James Candela of Special District Services, Inc., and District Attorney Kenneth Edwards of Caldwell Pacetti Edwards Schoech & Viator LLP.

Also present was District resident Christine Jones and Attorney Michael Posner, who appeared via telephone.

ADDITIONS OR DELETIONS TO AGENDA

There were no additions or deletions to the agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

There were no comments from the public for items not on the agenda.

APPROVAL OF MINUTES
September 13, 2022, Regular Board Meeting

Mr. Pierman presented the minutes of September 13, 2022, Regular Board Meeting for approval.

Mr. Jones noted that the minutes be amended to reflect that he requested that the easement item be referred to the attorney. He further noted that Mr. Banister provided documents that belong to the Jones’ and requested that they be stricken from the minutes.

Page 1 of 4

A motion was made by Mr. Mahoney, seconded by Mr. Moss approving the amended minutes of the September 8, 2022, Regular Board Meeting, as presented, and upon being put to a vote, the motion carried unanimously.

OLD BUSINESS
Consider Approval of Easement Encroachment Request

Mr. Pierman provided a brief overview of the situation. Prior to discussion, at Mr. Edwards’ recommendation, Mr. Jones completed a conflict form, and Mr. Banister confirmed that he had already completed a form. Both Mr. Jones and Mr. Banister would refrain from voting. Mr. and Mrs. Jones stated that they do not believe an encroachment agreement is necessary, and that Mr. Banister would just need to sign a removal agreement. Mr. Edwards stated his belief that his encroachment agreement does that, just with more teeth. Mr. Pierman noted that the agreement that was previously distributed was in draft form for discussion, and had been based off of one used in other Districts, but having talked with Mr. Edwards, would not work in this situation. Mr. Edwards again suggested that his version of the agreement would work but that it is not necessary. Following discussion, Mr. Mahoney suggested that they talk about the dock and boat outside of the District meeting, and stated that he does not have an issue with Mr. Banister replacing his lift bars. Mr. Edwards proposed that Mr. Banister move forward without objection, and that if the District needs him to remove it at any time, the Board would request that it be removed, and go to court if necessary to force its removal.

A motion was made by Mr. Mahoney, seconded by Mr. Moss, and unanimously passed to reject the draft agreement that was presented at the last meeting.

Mr. Moss and Mr. Mahoney stated that they would like to see Mr. Edwards’ agreement, but do not think it’s necessary, provided the Board does not object to Mr. Banister moving forward. Mr. Edwards explained that should the Board approve an agreement, it would be recorded and disclosed with any change in property ownership. Following discussion on the merits of an agreement, it was decided that Mr. Banister could move forward without an agreement in place. Mr. Mahoney proposed that Mr. Banister move forward without an agreement, and that the Board move on and that any property issues be handled outside the District meeting.

A motion was made by Mr. Mahoney, seconded by Mr. Jave, and unanimously passed to proceed as stated, with Mr. Banister moving forward without an agreement, and with property issues being handled outside the District meeting.

NEW BUSINESS
Consider Shenandoah Drain Cleaning Proposal (Captains Landing Cul-De-Sac)

Mr. Pierman presented Shenandoah’s proposal to clean and replace the drain in the Captain’s Landing Cul-De-Sac. Following discussion, the Board requested additional proposals.

Consider Resolution No. 2022-04 – Adopting a Fiscal Year 2021/2022 Amended Budget

Resolution No. 2022-04, entitled:

RESOLUTION NO. 2022-04

Page 2 of 4

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE CAPTAIN’S KEY DEPENDENT DISTRICT DEVELOPMENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2021/2022 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER 189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

A motion was made by Mr. Jones, seconded by Mr. Mahoney, and passed unanimously adopting Resolution No. 2022-04, as presented.

Consider Approval of Auditor Renewal

At the September 10, 2019, Captain’s Key Dependent District Board Of Supervisors meeting, the firm of Grau & Associates was selected to perform the 9-30-2019, 9-30-2020 and 9-30-2021 year end audits of the District with an option to perform the 9-30-2022 and 9-30-2023 audits.

The fees for the 9-30-2019 audit were $3,500. The fees for the 9-30-2020 audit were $3,600. And the fees for the 9-30-2021 audit were $3,700. The proposed fee for the 9-30-2022 audit is $3,800, which is the budgeted amount for audit fees for Fiscal Year 2022/2023. And the proposed fee for the 9-30- 2023 audit is $3,900.

Management is pleased with the professionalism and the competence of the Grau & Associates partners and staff; therefore, management recommends that the Board approve the renewal option for the Fiscal Year Ending 9-30-2022 and 9-30-2023 audits for Grau & Associates.

A motion was made by Mr. Mahoney, seconded by Mr. Moss and passed unanimously approving the auditor renewal, as presented.

ADMINISTRATIVE MATTERS

Financial Report

Consider Invoices

BOARD MEMBER COMMENTS

Mr. Banister noted that there were landscaping lights out in the island, closest to the road. Mr. Mahoney noted that the lights were also flickering by the call box. Mr. Pierman stated that he would contact Gilbert and have them correct the issues.

ADJOURNMENT

There being no further business to come before the Board, a motion was made by Mr. Jones, seconded by Mr. Mahoney and unanimously passed adjourning the Regular Board Meeting at 8:01 p.m.

Page 3 of 4

 	
Secretary/Assistant Secretary	Chair/Vice-Chair

Page 4 of 4

Order 28857 @ March 03, 2023	Page 1 of 3

PROPOSAL SUBMITTED TO:	PROJECT INFORMATION:	
Special District Services 2501A Oaks Road
Palm Beach Gardens, FL 33410
(561) 630-4922	Captains Landings - Subsurface Stabilization Part 2 12101 Captains Landing, North Palm Beach, FL 33408	
CONTACT INFORMATION:	SHENANDOAH CONTACT INFORMATION:	
Jason Pierman
(561) 818-8066
jpierman@sdsinc.org	Isaac Boyette i.boyette@shenandoahus.com 954-242-6379	

SHENANDOAH General Construction, LLC (“SHENANDOAH”) hereby proposes to furnish all equipment, labor, materials and supervision, unless noted otherwise, to complete the Scope of Work identified below. Payment shall be due Net 30 Days upon completion. Billing for grout shall be by Lump Sum price specified below. This proposal will expire if not accepted within thirty days.

Breakdown of Estimated Costs:
Polymer, URETEK 486STAR up to 500 lbs	(at $12.00 Per Pound)	500 lbs	$6,000.00	
Mobilization	(at $1,000.00 Each)	1 Each	$1,000.00	
Estimated Total:			$7,000.00	

SHENANDOAH General Construction, LLC			

OWNER or Authorized Agent:	
Authorized Signature	Date		Authorized Signature	Date	
Name			Name	
Title			Title	

Order 28857 @ March 03, 2023	Page 2 of 3

DESCRIPTION OF PROBLEM:
Transition joint from RCP to CMP is leaking and causing surface depressions in the back yard.

SCOPE OF WORK:
SHENANDOAH proposes to use its patented geotechnical “Deep Injection System” system utilizing its lightweight, expansive structural two-part geotechnical polymer URETEK 486STAR material to fill void space, densify weak soils and seal the transition joint from the RCP to CMP storm drainage pipe. Total polymer quantity for this scope of work is estimated at up to 500 lbs

REFERENCE DOCUMENT(S):
N/A

WORK DESCRIPTION:
Request and coordinate underground utility location services through Sunshine One-Call of Florida, Inc.
Layout polyurethane grout injection points under the direction of the foreman.
Install one-half (½) inch diameter tubing to facilitate grout injection.
Inject polyurethane grout into the ground utilizing the injection rods / injectors.
Upon completion of the injection process dirt will be added above the material to grade. All other repairs are excluded.

WORKING CONDITIONS:
The work will be performed during regular business hours.
Access must be provided for our polymer injection rig to be staged within 250' of the furthest injection point.

SPECIAL CONDITIONS:
Access to the back yard thru the homeowner's gate

CHANGES TO WORK:
Changes to the Work shall be made only upon written change orders. However, in the event additional Work is performed without a written change order, but with the knowledge and acquiescence of Buyer, such Work shall be considered to have been performed pursuant to a written change order, the price term being the unit prices stated herein.

CHANGED CONDITIONS:
If the conditions under which the Work is to be performed are discovered to be materially different than those indicated in the Contract Documents or are materially different from the conditions ordinarily encountered and generally recognized as inherent in the Work, then SHENANDOAH shall give prompt notice to the Buyer and an equitable adjustment to the Contract Price shall be made.

PAYMENT:
The balance of the Contract Price becomes due in accordance with the payment terms stated herein. In the event Buyer fails to pay as agreed, Buyer shall pay late charges of 18% per annum, or at the highest rate allowed by law in the applicable state, whichever is lower. SHENANDOAH shall have the right to stop Work immediately and without notice in the event payment is not made as it becomes due under the terms of this Contract. The contract price and the schedule shall be equitably adjusted for any such delay.

SEVERABILITY:
If any one or more provisions of this Contract is determined to be invalid or void, such determination shall not affect the validity or enforceability of any other provision of this Contract.

CLAIMS:
Written notice of any claim of any kind based in contract or warranty must be made to SHENANDOAH in writing within six months after the discovery of the injury or the claim shall be barred. SHENANDOAH shall not be liable for any such claim not reported to SHENANDOAH in writing within six months after the injury was discovered or should have been discovered by the claimant.

INSURANCE:
SHENANDOAH shall maintain insurance of the types and in the amounts required by law, including, but not limited to Comprehensive General Liability and Workers’ compensation insurance. Buyer shall maintain its own liability insurance as required by law, as consistent within industry standards, or as stated in the attached insurance rider, if any, whichever is greater. Buyer shall

Order 28857 @ March 03, 2023	Page 3 of 3
also purchase and maintain builder’s risk, “all risk” or an equivalent policy in the amount of the initial Contract Price. Each party shall provide updated Certificates of Insurance to the other party upon written request.

CONSEQUENTIAL DAMAGES:
The parties waive their claims against each other for consequential damages. Consequential damages as defined herein include, but are not limited to, the following: damages incurred by the Buyer for rental expenses and losses of use, income, financing, business and productivity; and damages incurred by SHENANDOAH for home office overhead, and losses of business, financing and profits from other potential projects.

DISPUTES:
If SHENANDOAH incurs costs related to the Buyer’s failure to make timely payment or related to any other legal dispute with Buyer related in any way to the Work or the Contract, SHENANDOAH shall be entitled to recover from Buyer all such costs, as are reasonable, including but not limited to attorneys’ fees.

CONFIDENTIALITY:
SHENANDOAH and CUSTOMER shall hold in trust and confidence for each other and shall not disclose to any third party, any confidential information of either party. Confidential information is information which relates to SHENANDOAH's or CUSTOMER's research, development, trade secrets, methodologies, property characteristics, company or business-related information, project proposals, project quotes, contractual terms or business affairs. CUSTOMER hereby acknowledges that during the performance of this AGREEMENT, CUSTOMER may learn or receive SHENANDOAH confidential information and therefore CUSTOMER hereby confirms that all such information relating to the SHENANDOAH's business will be kept confidential by CUSTOMER, except to the extent that such information is required to be divulged to the CUSTOMER's clerical or support staff or associates in order to enable SHENANDOAH to complete the services hereunder.

CHAPTER 558, FLORIDA STATUTES:
FLORIDA LAW CONTAINS IMPORTANT REQUIREMENTS YOU MUST FOLLOW BEFORE YOU MAY BRING ANY LEGAL ACTION FOR AN ALLEGED CONSTRUCTION DEFECT. SIXTY DAYS BEFORE YOU BRING ANY LEGAL ACTION, YOU MUST DELIVER TO THE OTHER PARTY TO THIS CONTRACT A WRITTEN NOTICE REFERRING TO CHAPTER 558, FLORIDA STATUTES, OF ANY CONSTRUCTION CONDITIONS YOU ALLEGE ARE DEFECTIVE AND PROVIDE SUCH PERSON THE OPPORTUNITY TO INSPECT THE ALLEGED CONSTRUCTION DEFECTS AND TO CONSIDER MAKING AN OFFER TO REPAIR OR PAY FOR THE ALLEGED CONSTRUCTION DEFECTS. YOU ARE NOT OBLIGATED TO ACCEPT ANY OFFER WHICH MAY BE MADE. THERE ARE STRICT DEADLINES AND PROCEDURES UNDER THIS FLORIDA LAW WHICH MUST BE MET AND FOLLOWED TO PROTECT YOUR INTERESTS.

8

This document is the property of Shenandoah General Construction. It is intended only for the use of the individual or entity to which it is addressed and may contain information that is non-public, proprietary, privileged, confidential and exempt from disclosure under applicable law or may constitute as attorney work product. If you are not the intended recipient, you are hereby notified that any use, dissemination, distribution or copying of this communication of this document is strictly prohibited. If you have received this document in error, notify us immediately by telephone (954) 075-0098 or Email: help@shenandoahus.com and destroy this document immediately, if this is an electronic communication then delete immediately.

RESOLUTION NO. 2023-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE CAPTAIN’S KEY DEPENDENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2023/2024; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (“Board”) of the Captain’s Key Dependent District (“District”) is required by Chapter 190.008, Florida Statutes, to approve a Proposed Budget for each fiscal year; and,

WHEREAS, the Proposed Budget including the Assessments for Fiscal Year 2023/2024 has been prepared and considered by the Board.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE CAPTAIN’S KEY DEPENDENT DISTRICT THAT:

Section 1.  The Proposed Budget including the Assessments for Fiscal Year 2023/2024 attached hereto as Exhibit “A” is approved and adopted.

Section 2.  A Public Hearing is hereby scheduled for June 13, 2023 at 6:00 p.m. in the Oaks Center, 2501A Burns Road, Palm Beach Gardens, Florida 33410, for the purpose of receiving public comments on the Proposed Fiscal Year 2023/2024 Budget.

PASSED, ADOPTED and EFFECTIVE this 14th day of March, 2023.

ATTEST:	CAPTAIN’S KEY
DEPENDENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairman/Vice Chairman

Captain's Key Dependent District

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
CAPTAIN'S KEY DEPENDENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024 BUDGET	
O & M ASSESSMENTS	87,000	
OTHER REVENUES	0	
INTEREST INCOME	480	
		
TOTAL REVENUES	$	87,480	
		
EXPENDITURES		
ENGINEERING	1,000	
MANAGEMENT	18,468	
SECRETARIAL	4,200	
LEGAL	2,000	
ASSESSMENT ROLL	2,500	
AUDIT FEES	3,900	
TELEPHONE/CABLE/VOIP	6,800	
POWER	600	
IRRIGATION MAINTENANCE	1,250	
LANDSCAPE MAINTENANCE	13,800	
MA-OR TRIMMING & NEW PLANTING	2,000	
GATE MAINTENANCE	9,000	
WATER SERVICE	4,750	
SECURITY CAMERA	500	
INSURANCE	6,400	
LEGAL ADVERTISING	650	
MISCELLANEOUS	250	
POSTAGE	100	
OFFICE SUPPLIES	400	
DUES & SUBSCRIPTIONS	175	
HOA REPAYMENT	0	
WEBSITE MANAGEMENT	1,500	
GATE ACCESS CARDS	1,000	
RESERVES	1,017	
		
TOTAL EXPENDITURES	$	82,260	
		
EXCESS OR S+ORTFALL 	$	 ,220	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(1,740)	
DISCOUNTS FOR EARLY PAYMENTS	(3,480)	
		
NET EXCESS/ S+ORTFALL 	$	-	

DETAILED PROPOSED BUDGET
CAPTAIN'S KEY DEPENDENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022 ACTUAL	
FISCAL YEAR 2022/2023
BUDGET	
FISCAL YEAR 2023/2024
BUDGET	

COMMENTS	
O & M ASSESSMENTS	87,006	87,000	87,000	Expenditures Less Interest/.94	
OTHER REVENUES	1,800	0	0		
INTEREST INCOME	24	240	480	Interest Estimated At $40 Per Month	
					
TOTAL REVENUES	$	88,830	$	87,240	$	87,480		
					
EXPENDITURES					
ENGINEERING	4,000	1,000	1,000	No Change From 2022/2023 Budget	
MANAGEMENT	17,424	17,940	18,468	CPI AdMustment (Capped At 3 )	
SECRETARIAL	4,200	4,200	4,200	No Change From 2022/2023 Budget	
LEGAL	730	2,000	2,000	No Change From 2022/2023 Budget	
ASSESSMENT ROLL	2,500	2,500	2,500	As Per Contract	
AUDIT FEES	3,700	3,800	3,900	Accepted Amount For 2022/2023 Audit	
TELEPHONE/CABLE/VOIP	6,740	5,300	6,800	$1,500 Increase From 2022/2023 Budget	
POWER	598	600	600	No Change From 2022/2023 Budget	
IRRIGATION MAINTENANCE	1,164	1,250	1,250	No Change From 2022/2023 Budget	
LANDSCAPE MAINTENANCE	24,743	12,500	13,800	$1,150 Per Month	
MA-OR TRIMMING & NEW PLANTING	0	4,000	2,000	$2,000 Decrease From 2022/2023 Budget	
GATE MAINTENANCE	20,631	9,000	9,000	No Change From 2022/2023 Budget	
WATER SERVICE	4,439	4,250	4,750	$500 Increase From 2022/2023 Budget	
SECURITY CAMERA	0	500	500	No Change From 2022/2023 Budget	
INSURANCE	6,121	6,400	6,400	Insurance Estimate	
LEGAL ADVERTISING	455	700	650	$50 Decrease From 2022/2023 Budget	
MISCELLANEOUS	28	350	250	$100 Decrease From 2022/2023 Budget	
POSTAGE	54	125	100	$25 Decrease From 2022/2023 Budget	
OFFICE SUPPLIES	713	425	400	$25 Decrease From 2022/2023 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2022/2023 Budget	
HOA REPAYMENT	2,500	1,889	0	Loan Was Paid Off In 2022/2023	
WEBSITE MANAGEMENT	1,500	1,500	1,500	No Change From 2022/2023 Budget	
GATE ACCESS CARDS	285	1,000	1,000	No Change From 2022/2023 Budget	
RESERVES	16,611	616	1,017	Reserves	
					
TOTAL EXPENDITURES	$	119,311	$	82,020	$	82,260		
					
EXCESS OR (SHORTFALL)	$	(30,481)	$	5,220	$	5,220		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(711)	(1,740)	(1,740)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(2,921)	(3,480)	(3,480)	Four Percent Of Total Assessment Roll	
					
NET EXCESS/ (SHORTFALL)	(34,113)	$	-	$	-		

Captain's Key Dependent District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2020/2021	2021/2022	2022/2023	2023/2024	
Assessment	Assessment	Assessment	Projected Assessment	
 Before Discount* 	 Before Discount* 	 Before Discount* 		Before Discount*		

O & M For Non-Waterfront Lots	$	3,000.00	$	3,000.00	$	3,000.00	$	3,000.00	
Loan DeEt For Non-Waterfront Lots	$	-		$	-		$	-		$	-		
Total	$	3,000.00	$	3,000.00	$	3,000.00	$	3,000.00	

O & M For Waterfront Lots	
$	3,000.00	
$	3,000.00	
$	3,000.00	
$	3,000.00	
Loan DeEt For Waterfront Lots	$	-		$	-		$	-		$	-		
Total	$	3,000.00	$	3,000.00	$	3,000.00	$	3,000.00	

* Assessments Include the Following 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee
Community Information		 Non-Waterfront Units	5
Waterfront Units Lots	24
Total Units	29

3/7/2023 1 06 PM	III

Captain's Key Dependent District

Financial Report For February 2023

Captain's Key Dependent District
Budget vs. Actual
October 2022 through February 2023

	Oct '22 - Feb 23		22/23 Budget		$ Over Budget		% of Budget	
Income								
363.100 · O & M Assessments	76,109.77		87,000.00		-10,890.23		87.48%	
363.830 · Assessment Fees	-941.77		-1,740.00		798.23		54.13%	
363.831 · Assessment Discounts	-2,933.23		-3,480.00		546.77		84.29%	
369.400 · Other Income	120.00		0.00		120.00		100.0%	
369.401 · Interest Income	1,484.97		240.00		1,244.97		618.74%	
Total Income	73,839.74		82,020.00		-8,180.26		90.03%	
Expense								
511.310 · Engineering	0.00		1,000.00		-1,000.00		0.0%	
511.311 · Management Fees	7,475.00		17,940.00		-10,465.00		41.67%	
511.312 · Secretarial Fees	1,750.00		4,200.00		-2,450.00		41.67%	
511.315 · Legal Fees	3,149.00		2,000.00		1,149.00		157.45%	
511.318 · Assessment/Tax Roll	0.00		2,500.00		-2,500.00		0.0%	
511.320 · Audit Fees	0.00		3,800.00		-3,800.00		0.0%	
511.410 · Telephone/Cable	2,657.11		5,300.00		-2,642.89		50.13%	
511.431 · Power	309.46		600.00		-290.54		51.58%	
511.432 · Irrigation Maintenance	395.00		1,250.00		-855.00		31.6%	
511.433 · Landscaping Maintenance	4,750.00		12,500.00		-7,750.00		38.0%	
511.435 · Gate Maintenance	1,525.08		9,000.00		-7,474.92		16.95%	
511.437 · Water Service	2,720.41		4,250.00		-1,529.59		64.01%	
511.439 · Gate Access Cards	0.00		1,000.00		-1,000.00		0.0%	
511.440 · Security Camera	0.00		500.00		-500.00		0.0%	
511.450 · Insurance	5,814.00		6,400.00		-586.00		90.84%	
511.480 · Legal Advertisements	173.98		700.00		-526.02		24.85%	
511.512 · Miscellaneous	0.00		350.00		-350.00		0.0%	
511.513 · Postage and Delivery	9.45		125.00		-115.55		7.56%	
511.514 · Office Supplies	197.70		425.00		-227.30		46.52%	
511.540 · Dues, License & Subscriptions	175.00		175.00		0.00		100.0%	
511.750 · Website Management	625.00		1,500.00		-875.00		41.67%	
512.512 · Miscellaneous Maintenance	500.00		0.00		500.00		100.0%	
512.513 · Major Trimming & New Planting	2,141.00		4,000.00		-1,859.00		53.53%	
513.001 · Reserves	0.00		616.00		-616.00		0.0%	
515.000 · HOA Repayment	1,889.05		1,889.00		0.05		100.0%	
Total Expense	36,256.24		82,020.00		-45,763.76		44.2%	
Net Income		37,583.50			0.00			37,583.50			100.0%	

CAPTAIN'S KEY DEPENDENT DISTRICT MONTHLY FINANCIAL REPORT FEBRUARY 2023

RE9ENUES	
Annual Budget
10/1/22- 9/30/23	

Actual Feb-23	Year To Date Actual
10/1/22 - 2/28/23	
O & M ASSESSMENTS	87,000	6,000	76,110	
OTHER REVENUES	0	60	120	
INTEREST INCOME	240	0	1,485	
RE9ENUES	$	87,240	$	6,060	$	77,715	
				
EXPENDITURES				
ENGINEERING	1,000	0	0	
MANAGEMENT	17,940	1,495	7,475	
SECRETARIAL	4,200	350	1,750	
LEGAL	2,000	0	3,149	
ASSESSMENT ROLL	2,500	0	0	
AUDIT FEES	3,800	0	0	
TELEPHONE/CABLE	5,300	331	2,657	
POWER	600	68	309	
IRRIGATION MAINTENANCE	1,250	79	395	
LANDSCAPE MAINTENANCE	12,500	0	4,750	
MA-OR TRIMMING & NEW PLANTING	4,000	0	2,141	
GATE MAINTENANCE	9,000	0	1,525	
WATER SERVICE	4,250	442	2,720	
SECURITY CAMERA	500	0	0	
INSURANCE	6,400	0	5,814	
LEGAL ADVERTISING	700	0	174	
MISCELLANEOUS	350	0	0	
POSTAGE	125	1	10	
OFFICE SUPPLIES	425	3	198	
DUES & SUBSCRIPTIONS	175	0	175	
HOA REPAYMENT	1,889	1,889	1,889	
GATE ACCESS CARDS	1,500	0	0	
WEBSITE MANAGEMENT	1,000	125	625	
RESERVES (MISCELLANEOUS MAINTENANCE)	616	0	500	
				
TOTAL EXPENDITURES	$	82,020	$	4,783	$	36,256	
				
EXCESS OR SHORTFALL 	$	5,220	$	1,277	$	41,459	
				
COUNTY APPRAISER & TAX COLLECTOR FEE	(1,740)	(58)	(942)	
DISCOUNTS FOR EARLY PAYMENTS	(3,480)	(150)	(2,933)	
				
NET EXCESS/ SHORTFALL 	$	-	$	1,069	$	37,584	

Bank Balance As Of 2/28/23	$	227,623.28	
Accounts Payable As Of 2/28/23	$	2,562.76	
Accounts Receivable As Of 2/28/23	$	949.12	
Reserve Funds As Of 2/28/23	$	91,620.00	
Available Funds As Of 2/28/23	$	134,389.64	

18

Captain's Key Dependent District Balance Sheet
As of February 28, 2023

Operating Fund	General Fixed Assets Fund	Long Term Debt Fund	TOTAL
ASSETS

Centerstate Bank	227,623.28		0.00		0.00		227,623.28	
Total Checking/Savings	227,623.28		0.00		0.00		227,623.28	
Total Current Assets	227,623.28		0.00		0.00		227,623.28	
Other Assets								
Accounts Receivable	949.12		0.00		0.00		949.12	
Roadways	0.00		67,400.00		0.00		67,400.00	
Gate System	0.00		164,326.00		0.00		164,326.00	
Gate System Improvements	0.00		36,577.00		0.00		36,577.00	
Depreciation - Roadways	0.00		-34,828.00		0.00		-34,828.00	
Depreciation - Gate System	0.00		-162,858.00		0.00		-162,858.00	
Amount To Be Provided	0.00		0.00		0.00		0.00	
Total Other Assets	949.12		70,617.00		0.00		71,566.12	
TOTAL ASSETS	228,572.40		70,617.00		0.00		299,189.40	
LIABILITIES & EQUITY								

Current Assets Checking/Savings

Liabilities

Accounts Payable	2,562.76		0.00		0.00		2,562.76	
Total Accounts Payable	2,562.76		0.00		0.00		2,562.76	
Total Current Liabilities	2,562.76		0.00		0.00		2,562.76	
Long Term Liabilities
Due To Captain's Key HOA	
0.00		
0.00		
0.00		
0.00	
Total Long Term Liabilities	0.00		0.00		0.00		0.00	
Total Liabilities	2,562.76		0.00		0.00		2,562.76	
Equity								
Retained Earnings	96,806.14		-197,686.00		0.00		-100,879.86	
Net Income	37,583.50		0.00		0.00		37,583.50	
Reserve Funds	91,620.00		0.00		0.00		91,620.00	
Current Year Depreciation	0.00		0.00		0.00		0.00	
Investment In Gen Fixed Assests	0.00		268,303.00		0.00		268,303.00	
Total Equity	226,009.64		70,617.00		0.00		296,626.64	
TOTAL LIABILITIES & EQUITY	228,572.40		70,617.00		0.00		299,189.40	

Current Liabilities Accounts Payable

5:00 PM
02/06/23
Accrual Basis

101.125 ꞏ CSB # 6006

Total 101.125 ꞏ CSB # 6006
TOTAL

Captain's Key Dependent District
Check Register
As of February 6, 2023

11/02/2022	DEO	175.00	
11/02/2022	FPL	57.79	
11/02/2022	Greentone	79.00	
11/02/2022	PBC Brd Commissioners	210.00	
11/02/2022	Seacoast	657.23	
11/02/2022	SDS	2,056.83	
11/17/2022	Comcast	198.40	
11/17/2022	Power Plant Landscape	3,291.00	
11/17/2022	Shenandoah Construction	500.00	
12/02/2022	Bill Gilbert Electric	150.00	
12/02/2022	FPL	60.35	
12/02/2022	Frontsteps	315.00	
12/02/2022	Seacoast	782.95	
12/02/2022	SDS	2,005.72	
12/15/2022	Comcast	198.40	
12/16/2022	Greenetone	79.00	
12/16/2022	Power Plant Landscape	1,150.00	
12/16/2022	Sixberry Locksmith	144.00	
01/06/2023	Caldwell Pacetti	3,149.00	
01/06/2023	Comcast	198.40	
01/06/2023	FPL	59.98	
01/06/2023	Frontsteps	315.00	
01/06/2023	Greentone	79.00	
01/06/2023	Power Plant Landscape	1,150.00	
01/06/2023	Seacoast	414.77	
01/06/2023	SDS	2,043.05	
01/06/2023	Victory Access	411.00	
02/02/2023	Sixberry Locksmith	515.74	
02/03/2023	FPL	63.04	
02/03/2023	Frontsteps	315.00	
02/03/2023	Greentone	79.00	
02/03/2023	Seacoast	423.75	
02/03/2023	SDS	1,977.80	
02/03/2023	Victory Access	210.50	
		23,515.70	
		23,515.70	

Date	Num	Name	Memo	Credit

10:29 AM
03/07/23
Accrual Basis

101.125 ꞏ CSB # 6006

Total 101.125 ꞏ CSB # 6006
TOTAL

Captain's Key Dependent District
Check Register
As of March 7, 2023

02/15/2023	ALM Media LLC	173.98	
02/15/2023	DoorKing	263.45	
02/15/2023	CK Homeowners Assoc.	1,889.05	
02/15/2023	Frontsteps	330.75	
02/15/2023	Power Plant Landscaping	1,150.00	
02/15/2023	Victory	243.84	
02/15/2023	Comcast	207.71	
03/02/2023	FPL	68.30	
03/02/2023	Greentone	79.00	
03/02/2023	Seacoast	441.71	
03/02/2023	SDS	1,973.75	
		6,821.54	
		6,821.54	

Date	Num	Name	Memo	Credit