Author: TLascasas

CAPTAIN’S KEY DEPENDENT DISTRICT

PALM BEACH COUNTY Regular Board Meeting & Public Hearing September 8, 2026
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 2501A Burns Road
Palm Beach Gardens, Florida 33410
REGULAR BOARD MEETING & PUBLIC HEARING
September 8, 2026
6:00 p.m.

Call to Order
Proof of Publication…	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
June 9, 2026 Regular Board Meeting…	Page 2
Public Hearing
Proof of Publication…	Page 4
Receive Public Comments on Fiscal Year 2026/2027 Final Budget
Consider Resolution No. 2026-02 – Adopting a Fiscal Year 2026/2027 Final Budget…	Page 5
Old Business
Update on POA Maintenance Agreement
New Business
Consider Resolution No. 2026-03 – Adopting a Fiscal Year 2026/2027 Meeting Schedule… Page 11
Consider Resolution No. 2026-04 – Adopting a Fiscal Year 2025/2026 Amended Budget…	Page 13
Consider Approval of Revised Management Agreement – SDS Inc.	Page 17
Discussion Regarding Mangrove Trimming
Update Regarding Landscaping
Update Regarding US1 Sidewalk
Administrative Matters
Financial Report…	Page 20
Consider Invoices…	Page 24
Board Member Comments
Adjourn

Publication Date 2026-08-26

Subcategory Miscellaneous Notices

Notice of Public Hearing and Regular Board Meeting of the Captains Key Dependent District
The Board of Supervisors (the Board) of the Captains Key Dependent District (the District) will hold a Public Hearing and Regular Board Meeting on September 8, 2026, at 6:00 p.m., or as soon thereafter as can be heard, in the Conference Room of Special District Services, Inc., 2505 Burns Road, Palm Beach Gardens, Florida 33410.
The purpose of the Public Hearing is to receive public comment on the Fiscal Year 2026/2027 Proposed Final Budget of the Captains Key Dependent District. A copy of the Budget and/or the Agenda may be obtained from the Districts website (www.captainskeydd.org) or at the offices of the District Manager, 2501A Burns Road, Palm Beach Gardens, Florida, during normal business hours. The purpose of the Regular Board Meeting is for the Board to consider any other business which may properly come before it. The meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Meetings may be continued as found necessary to a time and place specified on the record.
There may be occasions when one or more Supervisors will participate by telephone; therefore, a speaker telephone will be present at the meeting location so that Supervisors may be fully informed of the discussions taking place.
In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at these meetings should contact the District Manager at
(561) 630-4922, and/or toll free at 1-877-737-4922, at least seven (7) days prior to the date of the meetings. If any person decides to appeal any decision made with respect to any matter considered at this Public Hearing and Regular Board Meeting, such person will need a record of the proceedings and such person may need to ensure that a verbatim record of the proceedings is made at their own expense and which record includes the testimony and evidence on which the appeal is based.
Meetings may be cancelled from time to time without advertised notice.
Captains Key Dependent District www.captainskeydd.org
Aug 19, 26, 202612557886

Page 1

CAPTAIN’S KEY DEPENDENT DISTRICT REGULAR BOARD MEETING
JUNE 9, 2026

CALL TO ORDER

District Manager James Candela called the June 9, 2026, Regular Board Meeting of the Captain’s Key Dependent District (the “District”) to order at 6:13 p.m. at The Oaks Center located at 2501A Burns Road, Palm Beach Gardens, Florida 33410.

PROOF OF PUBLICATION

Mr. Candela presented proof of publication that notice of the Regular Board Meeting had been published in The Palm Beach Post on October 3, 2025, as part of the District’s Fiscal Year 2025/2026 Meeting Schedule, as legally required.

ESTABLISH A QUORUM

Mr. Candela determined that the attendance of Chairman Russell Jones and Supervisors Trey Mahoney and Nader Salour constituted a quorum and it was in order to proceed with the meeting.

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
February 10, 2026, Regular Board Meeting
Mr. Candela presented the minutes of the February 10, 2026, Regular Board Meeting for consideration.
A motion was made by Mr. Salour, seconded by Mr. Jones and passed unanimously approving the minutes of the February 10, 2026, Regular Board Meeting, as presented.

OLD BUSINESS
Update on POA Maintenance Agreement

A motion was made by Mr. Salour, seconded by Mr. Mahoney accepting the changes of the POA Maintenance Agreement, as presented.

NEW BUSINESS
Consider Resolution No. 2026-01 – Adopting a Fiscal Year 2026/2027 Proposed Budget
Page 1 of 2

Resolution No. 2026-01 was presented, entitled:

RESOLUTION NO. 2026-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE CAPTAIN’S KEY DEPENDENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2026/2027; AND PROVIDING AN EFFECTIVE DATE.

A motion was made by Mr. Mahoney, seconded by Mr. Salour adopting Resolution No. 2026-01, as presented, setting the Public Hearing for September 8, 2026.

ADMINISTRATIVE MATTERS
Financial Report
Consider Invoices

BOARD MEMBER COMMENTS

There were no further comments from the Board Members.

ADJOURNMENT

There being no further business to come before the Board, a motion was made by Mr. Mahoney, seconded by Mr. Salour and unanimously passed adjourning the Regular Board Meeting at 6:19 p.m.

Secretary/Assistant Secretary	Chair/Vice-Chair

Page 2 of 2

Publication Date 2026-08-26

Subcategory Miscellaneous Notices

Notice of Public Hearing and Regular Board Meeting of the Captains Key Dependent District
The Board of Supervisors (the Board) of the Captains Key Dependent District (the District) will hold a Public Hearing and Regular Board Meeting on September 8, 2026, at 6:00 p.m., or as soon thereafter as can be heard, in the Conference Room of Special District Services, Inc., 2505 Burns Road, Palm Beach Gardens, Florida 33410.
The purpose of the Public Hearing is to receive public comment on the Fiscal Year 2026/2027 Proposed Final Budget of the Captains Key Dependent District. A copy of the Budget and/or the Agenda may be obtained from the Districts website (www.captainskeydd.org) or at the offices of the District Manager, 2501A Burns Road, Palm Beach Gardens, Florida, during normal business hours. The purpose of the Regular Board Meeting is for the Board to consider any other business which may properly come before it. The meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Meetings may be continued as found necessary to a time and place specified on the record.
There may be occasions when one or more Supervisors will participate by telephone; therefore, a speaker telephone will be present at the meeting location so that Supervisors may be fully informed of the discussions taking place.
In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at these meetings should contact the District Manager at
(561) 630-4922, and/or toll free at 1-877-737-4922, at least seven (7) days prior to the date of the meetings. If any person decides to appeal any decision made with respect to any matter considered at this Public Hearing and Regular Board Meeting, such person will need a record of the proceedings and such person may need to ensure that a verbatim record of the proceedings is made at their own expense and which record includes the testimony and evidence on which the appeal is based.
Meetings may be cancelled from time to time without advertised notice.
Captains Key Dependent District www.captainskeydd.org
Aug 19, 26, 202612557886

RESOLUTION NO. 2026-02

A RESOLUTION OF THE CAPTAIN’S KEY DEPENDENT DISTRICT ADOPTING A FISCAL YEAR 2026/2027 BUDGET.

WHEREAS, the Captain’s Key Dependent District (“District”) has prepared a Proposed Budget and Final Special Assessment Roll for Fiscal Year 2026/2027 and has held a duly advertised Public Hearing to receive public comments on the Proposed Budget and Final Special Assessment Roll; and,

WHEREAS, following the Public Hearing and the adoption of the Proposed Budget and Final Assessment Roll, the District is now authorized to levy non ad-valorem assessments upon the properties within the District.

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

Section 1.	The Final Budget and Final Special Assessment Roll for Fiscal Year 2026/2027 attached hereto as Exhibit “A” is approved and adopted, and the assessments set forth therein shall be levied.

Section 2.	The Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with the intent of this Resolution.
PASSED, ADOPTED and EFFECTIVE this 8^th day of September, 2026.

ATTEST:	CAPTAIN’S KEY
DEPENDENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

Captain's Key Dependent District

Final Budget For Fiscal Year 2026/2027
October 1, 2026 - September 30, 2027

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
CAPTAIN'S KEY DEPENDENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES

FISCAL YEAR 2026/2027
BUDGET

O & M ASSESSMENTS | 102,959
OTHER REVENUES | 0
INTEREST INCOME | 1,440
TOTAL REVENUES | $	104,399
EXPENDITURES |
ENGINEERING | 1,000
MANAGEMENT | 1,000
SECRETARIAL | 0
LEGAL | 2,000
ASSESSMENT ROLL | 1,200
AUDIT FEES | 3,800
TELEPHONE/CABLE/VOIP | 8,800
POWER | 800
IRRIGATION MAINTENANCE | 1,800
LANDSCAPE MAINTENANCE | 17,500
MAJOR TRIMMING & NEW PLANTING | 2,000
GATE MAINTENANCE | 16,000
WATER SERVICE | 6,850
SECURITY CAMERA | 500
INSURANCE | 7,500
LEGAL ADVERTISING | 750
MISCELLANEOUS | 175
POSTAGE | 100
OFFICE SUPPLIES | 400
DUES & SUBSCRIPTIONS | 175
WEBSITE MANAGEMENT | 200
GATE ACCESS CARDS | 1,000
CAPITAL ITEMS (ROADS, DRAINS, CAMERAS) | 0
RESERVES | 24,672
TOTAL EXPENDITURES | $	98,222
REVENUES LESS EXPENDITURES | $	6,177
COUNTY APPRAISER & TAX COLLECTOR FEE | (2,059)
DISCOUNTS FOR EARLY PAYMENTS | (4,118)
EXCESS/ (SHORTFALL) | $	-
CARRYOVER FROM PRIOR YEAR | 0
NET EXCESS/ (SHORTFALL) | $	-

DETAILED FINAL BUDGET
CAPTAIN'S KEY DEPENDENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES

FISCAL YEAR 2024/2025
ACTUAL

FISCAL YEAR 2025/2026
BUDGET

FISCAL YEAR 2026/2027
BUDGET

COMMENTS

O & M ASSESSMENTS | 101,755 | 130,500 | 102,959 | Expenditures Less Interest & Carryover/.94
OTHER REVENUES | 80 | 0 | 0 |
INTEREST INCOME | 8,338 | 1,440 | 1,440 | Interest Estimated At $120 Per Month
TOTAL REVENUES | $	110,173 | $	131,940 | $	104,399 |
EXPENDITURES | | | |
ENGINEERING | 3,380 | 1,000 | 1,000 | No Change From 2025/2026 Budget
MANAGEMENT | 19,020 | 19,560 | 1,000 | $18,560 Decrease From 2025/2026 Budget
SECRETARIAL | 4,200 | 4,200 | 0 | Line Item Eliminated
LEGAL | 0 | 2,000 | 2,000 | No Change From 2025/2026 Budget
ASSESSMENT ROLL | 2,500 | 2,500 | 1,200 | $1,300 Decrease From 2025/2026 Budget
AUDIT FEES | 3,600 | 3,700 | 3,800 | Accepted Amount For 2025/2026 Audit
TELEPHONE/CABLE/VOIP | 8,150 | 6,800 | 8,800 | $2,000 Increase From 2025/2026 Budget
POWER | 764 | 800 | 800 | No Change From 2025/2026 Budget
IRRIGATION MAINTENANCE | 1,376 | 1,300 | 1,800 | $500 Increase From 2025/2026 Budget
LANDSCAPE MAINTENANCE | 16,200 | 16,000 | 17,500 | $1,500 Increase From 2025/2026 Budget
MAJOR TRIMMING & NEW PLANTING | 1,360 | 2,000 | 2,000 | No Change From 2025/2026 Budget
GATE MAINTENANCE | 21,376 | 11,000 | 16,000 | $5,000 Increase From 2025/2026 Budget
WATER SERVICE | 4,439 | 6,850 | 6,850 | No Change From 2025/2026 Budget
SECURITY CAMERA | 0 | 500 | 500 | No Change From 2025/2026 Budget
INSURANCE | 6,608 | 7,100 | 7,500 | FY 2025/2026 Expenditure Was $6,881
LEGAL ADVERTISING | 764 | 750 | 750 | No Change From 2025/2026 Budget
MISCELLANEOUS | 0 | 200 | 175 | $25 Decrease From 2025/2026 Budget
POSTAGE | 60 | 100 | 100 | No Change From 2025/2026 Budget
OFFICE SUPPLIES | 496 | 400 | 400 | No Change From 2025/2026 Budget
DUES & SUBSCRIPTIONS | 175 | 175 | 175 | No Change From 2025/2026 Budget
WEBSITE MANAGEMENT | 1,500 | 1,500 | 200 | $1,300 Decrease From 2025/2026 Budget
GATE ACCESS CARDS | 985 | 1,000 | 1,000 | No Change From 2025/2026 Budget
CAPITAL ITEMS (ROADS, DRAINS, CAMERAS) | 0 | 153,650 | 0 | FY 2025/2026 Expenditure
RESERVES | 4,250 | 2,025 | 24,672 | Reserves
TOTAL EXPENDITURES | $	101,203 | $	245,110 | $	98,222 |
REVENUES LESS EXPENDITURES | $	8,970 | $	(113,170) | $	6,177 |
COUNTY APPRAISER & TAX COLLECTOR FEE | 0 | (2,610) | (2,059) | Two Percent Of Total Assessment Roll
DISCOUNTS FOR EARLY PAYMENTS | 0 | (5,220) | (4,118) | Four Percent Of Total Assessment Roll
EXCESS/ (SHORTFALL) | 8,970 | $	(121,000) | $	- |
CARRYOVER FROM PRIOR YEAR | 0 | 121,000 | 0 | Carryover From Prior Year (Reserve Fund)
NET EXCESS/ (SHORTFALL) | $	8,970 | $	- | $	- |

Captain's Key Dependent District Assessment Comparison

Fiscal Year | Fiscal Year | Fiscal Year | Fiscal Year
2023/2024 | 2024/2025 | 2025/2026 | 2026/2027
Assessment | Assessment | Assessment | Projected Assessment
Before Discount* | Before Discount* | Before Discount* | Before Discount*

O & M For Non-Waterfront Lots | $	3,500.00 | $	3,500.00 | $	4,500.00 | $ | 3,550.34
Loan Debt For Non-Waterfront Lots | $	- | $	- | $	- | $	-
Total | $	3,500.00 | $	3,500.00 | $	4,500.00 | $	3,550.34
O & M For Waterfront Lots | $	3,500.00 | $	3,500.00 | $	4,500.00 | $	3,550.34
Loan Debt For Waterfront Lots | $	- | $	- | $	- | $	-
Total | $	3,500.00 | $	3,500.00 | $	4,500.00 | $	3,550.34

* 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

RESOLUTION NO. 2026-03

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE CAPTAIN’S KEY DEPENDENT DISTRICT, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2026/2027 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, it is necessary for the Captain’s Key Dependent District ("District") to establish a regular meeting schedule for fiscal year 2026/2027; and

WHEREAS, the Board of Supervisors of the District has set a regular meeting schedule, location and time for District meetings for fiscal year 2026/2027 which is attached hereto and made a part hereof as Exhibit “A”.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE CAPTAIN’S KEY DEPENDENT DISTRICT, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:

Section 1.   The above recitals are hereby adopted.

Section 2.  The regular meeting schedule, time and location for meetings for fiscal year 2026/2027 which is attached hereto as Exhibit “A” is hereby adopted and authorized to be published.
PASSED, ADOPTED and EFFECTIVE this 8^th day of September, 2026.

ATTEST:	CAPTAIN’S KEY
DEPENDENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

CAPTAIN’S KEY DEPENDENT DISTRICT
FISCAL YEAR 2026/2027 REGULAR MEETING SCHEDULE

NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Captain’s Key Community Dependent District will hold Regular Meetings in the Conference Room of Special District Services, Inc., 2505 Burns Road, Palm Beach Gardens, Florida 33410at 6:00 p.m. on the following dates:

October 13, 2026
November 12, 2026
December 8, 2026
January 12, 2027
February 9, 2027
March 9, 2027
April 13, 2027
May 11, 2027
June 8, 2027
July 13, 2027
August 10, 2027
September 14, 2027

The purpose of the meetings is to conduct any and all business coming before the Board. Copies of the Agenda for any of the meetings may be obtained from the District’s website or by contacting the District Manager at (561) 630-4922 and/or toll free at 1-877-737-4922 prior to the date of the particular meeting. Said meetings 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 telephone; therefore a speaker telephone will be present at the meeting location so that Supervisors may be fully informed of the discussions taking place.

If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to ensure that a verbatim 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 Disabilities Act, any person requiring special accommodations or an interpreter to participate at any of these meetings should contact the District Manager 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 time without advertised notice.

CAPTAIN’S KEY DEPENDENT DISTRICT

www.captainskeydd.org

PUBLISH:  THE PALM BEACH POST

RESOLUTION NO. 2026-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE CAPTAIN’S KEY DEPENDENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2025/2026 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER 189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors of the Captain’s Key Dependent District (“District”) is empowered to provide a funding source and to impose special assessments upon the properties within the District; and,

WHEREAS, the District has prepared for consideration and approval an Amended Budget.

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

Section 1.  The Amended Budget for Fiscal Year 2025/2026 attached hereto as Exhibit “A” is hereby approved and adopted.

Section 2.  The Secretary/Assistant Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with the intent of this Resolution.

PASSED, ADOPTED and EFFECTIVE this 8^th day of September, 2026
.

ATTEST:	CAPTAIN’S KEY
DEPENDENT DISTRICT

By:		By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

Captain's Key Dependent District

Amended Final Budget For Fiscal Year 2025/2026
October 1, 2025  - September 30, 2026

CONTENTS

I	AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL BUDGET
CAPTAIN'S KEY DEPENDENT DISTRICT OPERATING FUND
FISCAL YEAR 2025/2026 OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES

FISCAL YEAR 2025/2026 BUDGET
10/1/25 - 9/30/26

AMENDED FINAL BUDGET
10/1/25- 9/30/26

YEAR TO DATE ACTUAL
10/1/25- 7/31/26

O & M Assessments | 130,500 | 130,690 | 130,690
Other Revenues | 0 | 15 | 15
Interest Income | 1,440 | 2,500 | 2,186
Total Revenues | $	131,940 | $	133,205 | $	132,891
EXPENDITURES | | |
Engineering | 1,000 | 0 | 0
Management | 19,560 | 19,560 | 16,300
Secretarial | 4,200 | 4,200 | 3,500
Legal | 2,000 | 1,000 | 0
Assessment Roll | 2,500 | 2,500 | 0
Audit Fees | 3,700 | 3,700 | 3,700
Telephone/Cable | 6,800 | 8,000 | 7,113
Power | 800 | 800 | 667
Irrigation Maintenance | 1,300 | 5,000 | 3,675
Landscaping Maintenance | 16,000 | 18,000 | 15,026
Major Trimming & New Planting | 2,000 | 500 | 0
Gate Maintenance | 11,000 | 11,000 | 9,683
Water Service | 6,850 | 3,400 | 2,654
Security Camera | 500 | 250 | 0
Insurance | 7,100 | 6,881 | 6,881
Legal Advertisements | 750 | 750 | 224
Miscellaneous | 200 | 50 | 0
Postage | 100 | 35 | 8
Office Supplies | 400 | 425 | 386
Dues & Subscriptions | 175 | 175 | 175
Gate Access Cards | 1,000 | 0 | 0
Website Management | 1,500 | 1,500 | 1,250
Capital Items (Roads, Drains, Cameras, Etc.) | 153,650 | 200,000 | 177,025
Reserves | 2,025 | 1,000 | 0
TOTAL EXPENDITURES | $	245,110 | $	288,726 | $	248,267
REVENUES LESS EXPENDITURES | $	(113,170) | $	(155,521) | $	(115,376)
County Appraiser & Tax Collector Fee | (2,610) | (1,622) | (1,622)
Discounts For Early Payments | (5,220) | (4,467) | (4,467)
Excess/ (Shortfall) | $	(121,000) | $	(161,610) | $	(121,465)
Carryover From Prior Year Reserve Funds | 121,000 | 121,000 |
Net Excess/ (Shortfall) | $	- | $	(40,610) | $	(121,465)

FUND BALANCE AS OF 9/30/25
RESERVE BALANCE AS OF 9/30/25
AVAILABLE FUNDS AS OF 9/30/25
FY 2025/2026 FUND BALANCE ACTIVITY
FUND BALANCE AS OF 9/30/26
RESERVE BALANCE AS OF 9/30/26
AVAILABLE FUNDS AS OF 9/30/26

$204,987
$106,260
$98,727
($161,610)
$43,377
$0
$43,377

FIRST AMENDMENT TO AGREEMENT FOR SERVICES MANAGEMENT AND VALIDATION
This First Amendment to the Agreement for Services Management and Validation ("First Amendment") is made and entered into effective October 1, 2026, by and between the CAPTAIN'S KEY DEPENDENT DISTRICT, a dependent special district created pursuant to Florida law (the "District"), and SPECIAL DISTRICT SERVICES, INC., a Florida corporation ("SDS").
RECITALS

WHEREAS, the District and SDS entered into that certain Agreement for Services Management and Validation dated August 31, 2004 (the "Agreement"), pursuant to which SDS provides management and related services to the District;

WHEREAS, the parties desire to amend certain management responsibilities and compensation provisions contained in the Agreement; and

WHEREAS, the parties desire that SDS continue to serve as District Manager under the terms set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

INCORPORATION OF RECITALS
The foregoing recitals are true and correct and are incorporated herein by reference.

ASSUMPTION OF MAINTENANCE RESPONSIBILITIES
Effective October 1, 2026, the parties acknowledge and agree that, pursuant to its Maintenance Agreement, the Captain's Key Property Owners Association ("POA") shall assume responsibility for all District maintenance activities, services, operations, repairs, replacements, and maintenance-related functions.

The compensation and meeting requirements established in this First Amendment are expressly conditioned upon the POA's assumption of all District maintenance responsibilities. Should the POA Maintenance Agreement be terminated, this Amendment will be voided, and SDS’ fees and responsibilities will revert to the level set for the 2025/2026 Fiscal Year.

COLLECTION AND DISBURSEMENT OF ASSESSMENTS
SDS shall continue to administer the collection of District assessments in its capacity as District Manager. The parties acknowledge and agree that SDS shall remit certain collected assessment revenues per the terms in the POA Maintenance Agreement.

MEETING LIMITATION
Notwithstanding any provision of the Agreement to the contrary, the compensation established herein is based upon the District conducting no more than three (3) Board meetings during any fiscal year.

The parties acknowledge that most fiscal years are expected to require only two (2) Board meetings, with a third meeting generally occurring only in election years or as otherwise required by law.
In the event the District conducts more than three (3) Board meetings during any fiscal year, SDS shall be compensated an additional Five Hundred Dollars ($500.00) for each Board meeting in excess of three (3) meetings.

AMENDMENT TO COMPENSATION
Effective October 1, 2026, Section IV.A of the Agreement is amended and replaced in part as follows:

Management Services
Management Services (Tasks 1-4): $1,000.00 annually
Annual Assessment Roll
Assessment Roll Preparation (Task 5): $1,200.00 annually

Website Management
District Website Management: $200.00 annually
Additional Meetings
Additional Board Meetings exceeding three (3) meetings during a fiscal year: $500.00 per meeting

ELIMINATION OF SECRETARIAL SERVICES COMPENSATION
The provision contained within Section IV.A of the Agreement providing for compensation for secretarial services is hereby deleted in its entirety and shall be of no further force or effect as of October 1, 2026.

RATIFICATION
Except as specifically amended herein, all terms, conditions, and provisions of the Agreement shall remain unchanged and in full force and effect, and the Agreement is hereby ratified and confirmed by the parties.

CONFLICTS
In the event of a conflict between this First Amendment and the Agreement, the terms of this First Amendment shall control.

EFFECTIVE DATE

This First Amendment shall become effective on October 1, 2026.

IN WITNESS WHEREOF
The parties hereto have executed this First Amendment as of the dates set forth below.

CAPTAIN’S KEY DEPENDENT DISTRICT	SPECIAL DISTRICT SERVICES, INC.

Chair/Vice Chair	Todd Wodraska, President

Date	Date

Captain's Key Dependent District

Financial Report For July 2026

Captain's Key Dependent District
Budget vs. Actual
October 2025 - July 2026

| Oct 25 - Apr 26 | 25/26 Budget | $ Over Budget | % of Budget
Income | | | | |
363.100 | O & M Assessments | 130,690.20 | 130,500.00 | 190.20 | 100.15%
363.830 | Assessment Fees | -1,621.68 | -2,610.00 | 988.32 | 62.13%
363.831 | Assessment Discounts | -4,466.75 | -5,220.00 | 753.25 | 85.57%
369.400 | Other Revenue | 15.00 | 0.00 | 15.00 | 100.0%
369.989 • Carryover From Prior Year Reserve Funds | 0.00 | 121,000.00 | -121,000.00 | 0.0%
369.401 | Interest Income | 2,185.90 | 1,440.00 | 745.90 | 151.8%
Total Income | 126,802.67 | 245,110.00 | -118,307.33 | 51.73%
Expense | | | | |
511.310 | Engineering | 0.00 | 1,000.00 | -1,000.00 | 0.0%
511.311 | Management Fees | 16,300.00 | 19,560.00 | -3,260.00 | 83.33%
511.312 | Secretarial Fees | 3,500.00 | 4,200.00 | -700.00 | 83.33%
511.315 | Legal Fees | 0.00 | 2,000.00 | -2,000.00 | 0.0%
511.318 | Assessment/Tax Roll | 0.00 | 2,500.00 | -2,500.00 | 0.0%
511.320 | Audit Fees | 3,700.00 | 3,700.00 | 0.00 | 100.0%
511.410 | Telephone/Cable | 7,112.89 | 6,800.00 | 312.89 | 104.6%
511.431 | Power | 666.60 | 800.00 | -133.40 | 83.33%
511.432 | Irrigation Maintenance | 3,675.18 | 1,300.00 | 2,375.18 | 282.71%
511.433 | Landscaping Maintenance | 15,025.88 | 16,000.00 | -974.12 | 93.91%
511.435 | Gate Maintenance | 9,683.82 | 11,000.00 | -1,316.18 | 88.04%
511.437 | Water Service | 2,654.08 | 6,850.00 | -4,195.92 | 38.75%
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 | 6,881.00 | 7,100.00 | -219.00 | 96.92%
511.480 | Legal Advertisements | 224.48 | 750.00 | -525.52 | 29.93%
511.512 | Miscellaneous | 0.00 | 200.00 | -200.00 | 0.0%
511.513 | Postage and Delivery | 8.00 | 100.00 | -92.00 | 8.0%
511.514 | Office Supplies | 386.21 | 400.00 | -13.79 | 96.55%
511.540 | Dues, License & Subscriptions | 175.00 | 175.00 | 0.00 | 100.0%
511.750 | Website Management | 1,250.00 | 1,500.00 | -250.00 | 83.33%
511.441 | Capital Items (Roads, Drains, Etc.) | 177,024.89 | 153,650.00 | 23,374.89 | 115.21%
512.513 | Major Trimming & New Planting | 0.00 | 2,000.00 | -2,000.00 | 0.0%
513.001 | Reserves | 0.00 | 2,025.00 | -2,025.00 | 0.0%
Total Expense | 248,268.03 | 245,110.00 | 3,158.03 | 101.29%
Net Income | | -121,465.36 | | 0.00 | | -121,465.36 | | 100.0%

CAPTAIN'S KEY DEPENDENT DISTRICT MONTHLY FINANCIAL REPORT
JULY 2026

REVENUES

Annual Budget
10/1/25- 9/30/26

Actual Jul-26

Year To Date Actual
10/1/25 - 7/31/26

O & M ASSESSMENTS | 130,500 | 0 | 130,690
OTHER REVENUES | 0 | 15 | 15
INTEREST INCOME | 1,440 | 0 | 2,186
REVENUES | $	131,940 | $	15 | $	132,891
EXPENDITURES | | |
ENGINEERING | 1,000 | 0 | 0
MANAGEMENT | 19,560 | 1,630 | 16,300
SECRETARIAL | 4,200 | 350 | 3,500
LEGAL | 2,000 | 0 | 0
ASSESSMENT ROLL | 2,500 | 0 | 0
AUDIT FEES | 3,700 | 3,700 | 3,700
TELEPHONE/CABLE | 6,800 | 681 | 7,113
POWER | 800 | 62 | 667
IRRIGATION MAINTENANCE | 1,300 | 125 | 3,675
LANDSCAPE MAINTENANCE | 16,000 | 1,350 | 15,026
MAJOR TRIMMING & NEW PLANTING | 2,000 | 0 | 0
GATE MAINTENANCE | 11,000 | 368 | 9,683
WATER SERVICE | 6,850 | 303 | 2,654
SECURITY CAMERA | 500 | 0 | 0
INSURANCE | 7,100 | 0 | 6,881
LEGAL ADVERTISING | 750 | 0 | 224
MISCELLANEOUS | 200 | 0 | 0
POSTAGE | 100 | 0 | 8
OFFICE SUPPLIES | 400 | 61 | 386
DUES & SUBSCRIPTIONS | 175 | 0 | 175
GATE ACCESS CARDS | 1,000 | 0 | 0
WEBSITE MANAGEMENT | 1,500 | 126 | 1,250
CAPITAL ITEMS (ROADS, DRAINS, CAMERAS) | 153,650 | 0 | 177,025
RESERVES | 2,025 | 0 | 0
TOTAL EXPENDITURES | $	245,110 | $	8,756 | $	248,267
EXCESS OR (SHORTFALL) | $	(113,170) | $	(8,741) | $	(115,376)
COUNTY APPRAISER & TAX COLLECTOR FEE | (2,610) | 0 | (1,622)
DISCOUNTS FOR EARLY PAYMENTS | (5,220) | 0 | (4,467)
EXCESS/ (SHORTFALL) | $	(121,000) | $	(8,741) | $	(121,465)
CARRYOVER FROM PRIOR YEAR RESERVE FUNDS | 121,000 | 0 | 0
NET EXCESS/ (SHORTFALL) | $	- | $	(8,741) | $	(121,465)

Bank Balance As Of 7/31/26 | $	91,047.27
Accounts Payable As Of 7/31/26 | $	8,755.68
Accounts Receivable As Of 7/31/26 | $	1,227.12
Reserve Funds As Of 7/31/26 | $	-
Available Funds As Of 7/31/26 | $	83,518.71

Captain's Key Dependent District Balance Sheet
As of July 31, 2026

Operating Fund	General Fixed Assets Fund	Long Term Debt Fund	TOTAL
ASSETS
Current Assets
Checking/Savings Bank Account | 121,426.84 | | 0.00 | | 0.00 | | 121,426.84
Total Checking/Savings | 121,426.84 | | 0.00 | | 0.00 | | 121,426.84
Total Current Assets | 91,047.27 | | 0.00 | | 0.00 | | 91,047.27
Other Assets | | | | | | |
Accounts Receivable | 1,227.12 | | 0.00 | | 0.00 | | 1,227.12
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 | | -43,816.00 | | 0.00 | | -43,816.00
Depreciation - Gate System | 0.00 | | -174,078.00 | | 0.00 | | -174,078.00
Amount To Be Provided | 0.00 | | 0.00 | | 0.00 | | 0.00
Total Other Assets | 1,227.12 | | 50,409.00 | | 0.00 | | 51,636.12
TOTAL ASSETS | 92,274.39 | | 50,409.00 | | 0.00 | | 142,683.39
LIABILITIES & EQUITY | | | | | | |
Liabilities
Current Liabilities Accounts Payable
Accounts Payable | 8,755.68 | | 0.00 | | 0.00 | | 8,755.68
Total Accounts Payable | 8,755.68 | | 0.00 | | 0.00 | | 8,755.68
Total Current Liabilities | 8,755.68 | | 0.00 | | 0.00 | | 8,755.68
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 | 8,755.68 | | 0.00 | | 0.00 | | 8,755.68
Equity | | | | | | |
Retained Earnings | 204,984.07 | | -217,894.00 | | 0.00 | | -12,909.93
Net Income | -121,465.36 | | 0.00 | | 0.00 | | -121,465.36
Reserve Funds | 0.00 | | 0.00 | | 0.00 | | 0.00
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 | 83,518.71 | | 50,409.00 | | 0.00 | | 133,927.71
TOTAL LIABILITIES & EQUITY | 92,274.39 | | 50,409.00 | | 0.00 | | 142,683.39

10:55 AM | | Captain's Key Dependent District |
06/30/26 | | | Unpaid Bills Detail |
| | All Transactions |
| Type | Date | Num | Open Balance |
Blue Frog Irrigation LLC | | | |
Bill | | 05/01/2026 | 1550 | 125.00 |
Bill | | 06/01/2026 | 1591 | 125.00 |
Bill | | 06/10/2026 | 1605 | 281.18 |
Total Blue Frog Irrigation LLC | | | 531.18 |
Comcast Bill | | 06/25/2026 | 8535 11 407 03022... | 298.35 |
Total Comcast | | | | 298.35 |
FPL Bill | | 06/15/2026 | 46887-48534 | 66.18 |
Total FPL | | | | 66.18 |
Frontsteps Bill | | 06/12/2026 | INV284277 | 382.89 |
Total Frontsteps | | | | 382.89 |
Seacoast Utility Authority | | | |
Bill | | 06/17/2026 | 900010591 | 272.14 |
Total Seacoast Utility Authority | | | 272.14 |
Special District Services, Inc. | | | |
Bill | | 06/30/2026 | 2026-2415 | 2,190.00 |
Total Special District Services, Inc. | | | 2,190.00 |
Surf Landscape, Inc. | | | |
Bill | | 06/05/2026 | 0602 | 1,350.00 |
Total Surf Landscape, Inc. | | | 1,350.00 |
TOTAL | | | | 5,090.74 | ;vJ
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10:34 AM | | Captain's Key Dependent District |
07/30/26 | | | Unpaid Bills Detail |
| | All Transactions |
| Type | Date | | Num | | Open Balance |
Blue Frog Irrigation LLC | | | | | |
Bill | | 07/01/2026 | | 1642 | | 125.00 |
Total Blue Frog Irrigation LLC | | | | | 125.00 |
Comcast Bill | | 07/25/2026 | | 8535 11 407 03022... | | 298.35 |
Total Comcast | | | | | | 298.35 |
FPL Bill | | 07/15/2026 | | 46887-48534 | | 62.45 |
Total FPL | | | | | | 62.45 |
Frontsteps Bill | | 07/12/2026 | | INV286655 | | 382.89 |
Total Frontsteps | | | | | | 382.89 |
Grau and Associates | | | | | |
Bill | | 07/01/2026 | | 29779 | | 3,700.00 |
Total Grau and Associates | | | | | 3,700.00 |
Seacoast Utility Authority | | | | | |
Bill | | 07/17/2026 | | 900010591 | | 303.48 |
Total Seacoast Utility Authority | | | | | 303.48 |
Special District Services, Inc. | | | | | |
Bill | | 07/31/2026 | | 2026-2535 | | 2,165.51 |
Total Special District Services, Inc. | | | | | | 2,165.51 |
Surf Landscape, Inc. | | | | | |
Bill | | 07/05/2026 | | 0618 | | 1,350.00 |
Total Surf Landscape, Inc. | | | | | 1,350.00 |
Victory Access Control, LLC | | | | | |
Bill | | 07/17/2026 | | 21316 | | 368.00 |
Total Victory Access Control, LLC | | | | | 368.00 |
TOTAL | | | | | | 8,755.68 |

11:34 AM
09/01/26
Accrual Basis

101.125 · CSB # 6006

Total 101.125 · CSB # 6006
TOTAL

Captain's Key Dependent District
Check Register
As of September 1, 2026
Date	Num	Name	Memo	Credit

07/01/2026 | Blue Frog Irrigation | 531.18
07/01/2026 | Comcast | 298.35
07/01/2026 | FPL | 66.18
07/01/2026 | Frontsteps | 382.89
07/01/2026 | Seacoast | 272.14
07/01/2026 | Special District Services | 2,190.00
07/01/2026 | Surf | 1,350.00
08/01/2026 | Blue Frog Irrigation | 125.00
08/01/2026 | Comcast | 298.35
08/01/2026 | FPL | 62.45
08/01/2026 | Frontsteps | 382.89
08/01/2026 | Grau and Associates | 3,700.00
08/01/2026 | Seacoast | 303.48
08/01/2026 | Special District Services | 2,165.51
08/01/2026 | Surf | 1,350.00
08/01/2026 | Victory Access | 368.00
| | 13,846.42
| | 13,846.42

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