Gardens at Hammock Beach Community Development District

Agenda May 15, 2026

Agenda

Gardens at Hammock Beach
Community Development District

219 East Livingston Street, Orlando, Florida 32801 Phone: 407-841-5524 – Fax: 407-839-1526

May 6, 2026
Board of Supervisors Gardens at Hammock Beach
Community Development District

Dear Board Members:

The meeting of the Board of Supervisors of Gardens at Hammock Beach Community Development District will be held Friday, May 15, 2026 at 12:00 PM at the Hilton Garden Inn Palm Coast/Town Center, 55 Town Center Blvd., Palm Coast, Florida. Following is the advance agenda for the meeting:

Board of Supervisors Meeting
Roll Call
Public Comment Period
Approval of Minutes of the July 18, 2025 Board of Supervisors Meeting
Appointment of Audit Committee and Chairman
Review and Acceptance of Fiscal Year 2025 Audit Report
Consideration of Data Sharing & Usage agreement with the Flagler County Property Appraiser
Consideration of Resolution 2026-01 Approving the Proposed Fiscal Year 2027 Budget and Setting a Public Hearing
Consideration of Resolution 2026-02 Designating Assistant Treasurer of the District
Consideration of Landscape Maintenance Proposal with Verdego Landscape
Consideration of Lake Maintenance Agreement with Lake Pros and SunBelt Land Management
Ratification of Fiscal Year 2025 Audit Engagement Letter
Ratification of SJRWMD Permit Modification
Ratification of Letter of Authorization for Parker Mynchenberg & Associates
Staff Reports
Attorney
Engineer and Maintenance Report
District Manager's Report
Approval of Check Register
Balance Sheet and Income Statement
Presentation of Registered Voters – 23
Designation of November 20, 2026 as the Landowners’ Meeting Date
Other Business
Supervisor's Requests
Adjournment

Audit Committee Meeting

Roll Call
Public Comment Period
Audit Services
Approval of Request for Proposals and Selection Criteria
Approval of Notice of Request for Proposal for Audit Services
Public Announcement of Opportunity to Provide Audit Services
Adjournment

The balance of the agenda will be discussed at the meeting. In the meantime, if you should have any questions, please do not hesitate to contact me.

Sincerely,

Jeremy LeBrun

Jeremy LeBrun District Manager

Enclosures

Minutes

MINUTES OF MEETING GARDENS AT HAMMOCK BEACH
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Gardens at Hammock Beach Community Development District was held on Friday, July 18, 2025 at 12:30 p.m. at the Hilton Garden Inn Palm Coast, 55 Town Center Boulevard, Palm Coast, Florida.

Present and constituting a quorum were:

Clint Smith	Chairman
Ken Belshe	Vice Chairman
William Livingston	Assistant Secretary

Also present were:
Jeremy LeBrun	District Manager
Michael Chiumento III	District Counsel Parker Mynchenberg by phone	District Engineer

The following is a summary of the actions taken at the July 18, 2025 Board of Supervisors meeting of the Gardens at Hammock Beach Community Development District.

FIRST ORDER OF BUSINESS	Roll Call
Mr. LeBrun called the meeting to order at 12:30 p.m. A quorum was present.

SECOND ORDER OF BUSINESS	Public Comment Period
There being no comments, the next item followed.

THIRD ORDER OF BUSINESS	Organizational Matters
Appointment of Individual to Fulfill the Board Vacancy with a Term Ending November 2026
Administration of Oath of Office to Newly Appointed Board Member
Consideration of Resolution 2025-09 Electing an Assistant Secretary
Mr. LeBrun recalled at the last meeting, the Board tabled the appointment of a Supervisor to the vacant seat. Mr. Smith requested that this continue to be deferred. Mr. Livingston

July 18, 2025	Gardens at Hammock Beach CDD

questioned who was on the Board. Mr. LeBrun indicated the three Supervisors attending this meeting and Ms. Denise Bunch. Mr. Livingston asked if Mr. Belshe was appointed at the last meeting. Mr. LeBrun confirmed that Mr. Belshe was appointed and one seat was vacant.

FOURTH ORDER OF BUSINESS	Approval of Amended Minutes of the May
16, 2025 Meeting
Mr. LeBrun presented the amended minutes of the May 16, 2025 meeting, which was included in the agenda package. Mr. Livingston provided minor changes, which were incorporated into the record.

On MOTION by Mr. Smith seconded by Mr. Belshe with all in favor the Amended Minutes of the May 16, 2025 Meeting were approved as presented.

FIFTH ORDER OF BUSINESS	Public Hearing

On MOTION by Mr. Smith seconded by Mr. Livingston with all in favor the public hearing for the Fiscal Year 2026 budget adoption was opened.

There were no public comments.

Consideration of Resolution 2025-07 Adopting the Fiscal Year 2026 Budget and Relating to the Annual Appropriations
Mr. LeBrun presented Resolution 2025-07, Adopting the Fiscal Year (FY) 2026 Budget, which was attached as Exhibit A. The Board previously approved a Proposed Budget, which has not changed. However, there would be a change where it says, “Assessment Area 1,” on Page 24 of the PDF. There were no assessment increases. On the Summary Assessment Chart, targeted assessments were at the $1,000 level, similar to what the Board approved previously. Mr. Smith questioned the size of the check that the developer would have to write. Mr. LeBrun noted under Revenues section, in order to balance the budget, there was a Developer Contribution of $44,594 for FY 2026; however, there was a Deficit Funding Agreement, if assessments failed to cover it. Mr. Belshe asked if this assumed that the developer contribution was paid. Mr. LeBrun confirmed that was included as part of it, which they were confident would cover all expenses.

July 18, 2025	Gardens at Hammock Beach CDD

Mr. Belshe pointed out that it was a theoretical number. Mr. LeBrun explained that it was used to keep assessments at the $1,000 level. If there was no deficit, there was no developer contribution.

On MOTION by Mr. Belshe seconded by Mr. Livingston with all in favor Resolution 2025-07 Adopting the Fiscal Year 2026 Budget and Relating to the Annual Appropriations was approved.

Consideration of Resolution 2025-08 Imposing Special Assessments and Certifying Assessment Roll
Mr. LeBrun presented Resolution 2025-08, Imposing Special Assessments and Certifying an Assessment Roll, which was the mechanism to fund the Fiscal Year 2026 budget and certifies the Tax Roll.

On MOTION by Mr. Belshe seconded by Mr. Livingston with all in favor Resolution 2025-08 Imposing Special Assessments and Certifying Assessment Roll was approved.

On MOTION by Mr. Smith seconded by Mr. Belshe with all in favor the public hearing for the Fiscal Year 2026 budget adoption was closed.

SIXTH ORDER OF BUSINESS	Consideration of Fiscal Year 2026 Deficit
Funding Agreement
Mr. LeBrun presented the FY 2026 Deficit Funding Agreement, which was included in the agenda package. It detailed the payments that would need to be made by the developer, if needed. In the current FY, a Developer Funding Agreement was in place. Mr. Livingston noted on Page 47, the total number of units was 124, which was incorrect, as it should be 211. Mr. Smith explained that there were two assessment areas: 211 units in Assessment Area #1 and 124 in Assessment Area #2. Mr. LeBrun pointed out that these numbers come straight from the county Assessment Roll; however, the budget did contemplate the different assessment areas with the 211 and 124 units. He would provide a note to the accountant that the Assessment Roll did not populate correctly. Mr. Livingston asked if he paid $6,309 per year for operation and

July 18, 2025	Gardens at Hammock Beach CDD

maintenance (O&M), if he lived in Assessment Area #2. Mr. Belshe indicated that there was still the debt for the construction.
Mr. LeBrun explained that the O&M assessment was $1,000. Mr. Belshe recalled that some of the debt was retired yesterday, with a closing in Assessment Area #2, dropping down the assessment from $3,559.40 to $2,750; however, since this document was a public record, he questioned the assessment for the Series 2 bonds. Mr. LeBrun indicated that the $1,000 O&M would not change, as well as the debt service, but the official Tax Roll from the county, was used to populate this document and would reflect what occurred recently. Mr. Belshe voiced concern about what the owners of the lots that closed yesterday would see on their Tax Bill. Mr. LeBrun would have the accountant note any current changes, especially the ones that closed yesterday and the final version of the agreement would be attached to the resolution. Mr. Belshe pointed out that there was a second closing scheduled for next month. Mr. Livingston questioned the blanks in the agreement. Mr. LeBrun indicated that staff would fill in the blanks, once the budget was adopted. The blank on the first page, was the amount of the O&M budget and the second blank had the special assessments, with the delta being the difference between the assessments and the actual budget amount, which was the developer contribution.

On MOTION by Mr. Belshe seconded by Mr. Smith with all in favor the Fiscal Year 2025 Deficit Funding Agreement was approved.

SEVENTH ORDER OF BUSINESS	District Goals & Objectives
Adoption of Fiscal Year 2026 Goals & Objectives
Mr. LeBrun presented the FY 2026 goals and objectives, as required by the Legislature, which were identical to ones that the Board adopted the prior year. At the end of the FY, the Board would review the goals and post on the CDD website.

On MOTION by Mr. Smith seconded by Mr. Belshe with all in favor adopting the Fiscal Year 2026 goals and objectives as presented was approved.

Presentation of Fiscal Year 2025 Goals & Objectives and Authorization to Chairman to Execute

July 18, 2025	Gardens at Hammock Beach CDD

Ms. Adams presented the goals and objectives for FY 2025, which ends on September 30th. They were identical to goals that the Board adopted previously. Once the FY ends, the Chairman would execute them, so that they could be posted on the CDD website, in order to meet the State Statute.

On MOTION by Mr. Belshe seconded by Mr. Smith with all in favor authorizing the Chairman to execute the completed 2025 goals was approved.

EIGHTH ORDER OF BUSINESS	Ratification Items
Series 2024-2 Requisitions #12 - #13
Mr. LeBrun presented Requisition #12 for JD Weber Construction Co. in the amount of
$1,066,853.22 and Requisition #13 for JD Weber Construction Co. in the amount of $627,375.84 for the Series 2024-2 bonds. The requisitions were reviewed by staff and included in the agenda package.

On MOTION by Mr. Livingston seconded by Mr. Smith with all in favor Requisitions #12 through #13 for the Series 2024-2 bonds were ratified.

Second Supplemental Master Declaration of CCREs for Veranda Bay
Mr. LeBrun presented a Second Supplemental Master Declaration of CCREs for Veranda Bay, which was included in the agenda package. This was for ratification. Mr. Chiumento indicated that it was for the HOA.

On MOTION by Mr. Belshe seconded by Mr. Smith with all in favor the Second Supplemental Master Declaration of CCREs for Veranda Bay was approved.

ELEVENTH ORDER OF BUSINESS	Staff Reports
Attorney
There being no comments, the next item followed.

Engineer and Maintenance Report

July 18, 2025	Gardens at Hammock Beach CDD

Mr. Mynchenberg had no report. Mr. Livingston asked if the Board could authorize the Chairman to release the retainage for the contractor, so they could get paid before the next meeting. Mr. LeBrun pointed out that requisitions did not need to be approved by the Board prior to the meeting and could be executed and processed by staff. They were only brought back to the Board for ratification.

District Manager’s Report
Approval of Check Register
Mr. LeBrun presented the Check Register for April 1, 2025 through June 30, 2025, Checks #322 through #339 for the General Fund totaling $66,035.16, which were included in the agenda package and included the detailed invoices and Check Run Summary.

On MOTION by Mr. Smith seconded by Mr. Belshe with all in favor the Check Register as stated above was approved.

Balance Sheet and Income Statement
Mr. LeBrun presented the Unaudited Financials through June 30, 2025, which were included in the agenda package. No action was required by the Board.

Approval of Fiscal Year 2026 Meeting Schedule
Mr. LeBrun presented the Fiscal Year 2026 meeting schedule, which the District was required to approve each year. The District met on an as needed basis, but it was aligned with other Districts that Board Members served on, for ease of travel. The Board agreed to continue meeting on an as needed basis.

On MOTION by Mr. Livingston seconded by Mr. Smith with all in favor the meeting schedule for Fiscal Year 2026 as presented was approved.

TENTH ORDER OF BUSINESS	Other Business
There being no comments, the next item followed.

July 18, 2025	Gardens at Hammock Beach CDD

ELEVENTH ORDER OF BUSINESS	Supervisor’s Request
There being no comments, the next item followed.

TWELFTH ORDER OF BUSINESS	Adjournment

On MOTION by Mr. Belshe seconded by Mr. Smith with all in favor the meeting was adjourned.

Secretary / Assistant Secretary	Chairman / Vice Chairman

Section V

GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT FLAGLER COUNTY, FLORIDA FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT FLAGLER 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 Financial Statements	13-21	
REQUIRED SUPPLEMENTARY INFORMATION		
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – General Fund	
22	
Notes to Required Supplementary Information	23	
OTHER INFORMATION		
Data Elements required by FL Statute 218.39 (3) (c)	24	
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	

25-26	
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	

27	
MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL FOR THE STATE OF FLORIDA	
28-29	

INDEPENDENT AUDITOR’S REPORT

To the Board of Supervisors
Gardens at Hammock Beach Community Development District Flagler County, Florida

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities and each major fund of Gardens at Hammock Beach Community Development District, Flagler County, Florida (“District”) as of and for the fiscal year ended September 30, 2025, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the District as of September 30, 2025, and the respective changes in financial position thereof for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the District and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
The District’s management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis and budgetary comparison information be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Information Included in the Financial Report
Management is responsible for the other information included in the financial report. The other information comprises the information for compliance with FL Statute 218.39 (3) (c) but does not include the financial statements and our auditor's report thereon. Our opinions on the financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated April 14, 2026, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control over financial reporting and compliance.

April 14, 2026

MANAGEMENT’S DISCUSSION AND ANALYSIS

Our discussion and analysis of Gardens at Hammock Beach Community Development District, Flagler County, Florida (“District”) provides a narrative overview of the District’s financial activities for the fiscal year ended September 30, 2025. 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 assets of the District exceeded its liabilities at the close of the most recent fiscal year resulting in a net position balance of $6,034,939.

The change in the District’s total net position in comparison with the prior fiscal year was
$2,627,377, an increase. 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, 2025, the District’s governmental funds reported combined ending fund balance of $3,736,796, a decrease of ($4,492,936) in comparison with the prior fiscal year. The fund balance is restricted for debt service, nonspendable for prepaid items, 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 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 and Developer contributions. 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.

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 outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a District’s near-term financing requirements.

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

The District maintains 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 fund, debt service fund and capital projects fund, all of which are considered major funds.

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

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

GOVERNMENT-WIDE FINANCIAL ANALYSIS
As noted earlier, net position may serve over time as a useful indicator of an entity’s financial position. In the case of the District, assets exceeded liabilities 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,
2025	2024	
Current and other assets	$	4,199,688	$	8,643,829	
Capital assets, net of depreciation	16,333,159	9,200,418	
Total assets	20,532,847	17,844,247	
Current liabilities	784,108	628,420	
Long-term liabilities	13,713,800	13,808,265	
Total liabilities	14,497,908	14,436,685	
Net position	
Net investment in capital assets	2,194,301	1,867,865	
Restricted	3,775,375	1,540,646	
Unrestricted	65,263	(949)	
Total net position	$	6,034,939	$	3,407,562	
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 cannot be used to liquidate these liabilities.

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.

The District’s net position increased during the most recent fiscal year. The majority of the increase is attributed to the Developer contribution toward the construction project.

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,
	2025	2024	
Revenues: Program revenues
Charges for services	

$	3,290,050	

$	-	
Operating grants and contributions	77,773	73,136	
Capital grants and contributions	189,609	4,187,714	
Total revenues	3,557,432	4,260,850	
Expenses:	
General government	79,090	56,589	
Maintenance and operations	75,872	325	
Bond issue costs	-	549,275	
Interest	775,093	214,323	
Total expenses	930,055	820,512	
Change in net position	2,627,377	3,440,338	
Net position - beginning	3,407,562	(32,776)	
Net position - ending	$	6,034,939	$	3,407,562	

As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year ended September 30, 2025, was $930,055. The costs of the District’s activities were funded by program revenues which were comprised primarily of assessments and interest income. Most of the decrease in program revenues is due to no developer contributions for capital asset acquisitions in the current year. As for expenses, the decrease in expenses in the current fiscal year is due to no bond issuance expenses in the current year.
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, 2025.

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets
At September 30, 2025, the District had $16,333,159 invested in capital assets. No depreciation has been taken in the current fiscal year as the District’s infrastructure and other capital assets are under construction. More detailed information about the District’s capital assets is presented in the notes of the financial statements.

Capital Debt
At September 30, 2025, the District had $13,730,000 Bonds outstanding for its governmental activities. More detailed information about the District’s capital debt is presented in the notes of the financial statements.

ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND OTHER EVENTS

For the subsequent fiscal year, the District anticipates that the cost of general operations will increase as the District is built out.

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 Gardens at Hammock Beach Community Development District’s Finance Department at 219 E. Livingston Street, Orlando, Florida, 32801.

GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT FLAGLER COUNTY, FLORIDA
STATEMENT OF NET POSITION SEPTEMBER 30, 2025

	Governmental
	Activities		
ASSETS		
Cash and cash equivalents	$	54,872	
Prepaid items	11,173	
Restricted assets:		
Investments	4,133,643	
Capital assets:		
Nondepreciable		16,333,159 	
Total assets		20,532,847 	
LIABILITIES		
Accounts payable	782	
Contracts and retainage payable	462,110	
Accrued interest payable	321,216	
Non-current liabilities:		
Due within one year	195,000	
Due in more than one year		13,518,800 	
Total liabilities		14,497,908 	
NET POSITION		
Net investment in capital assets	2,194,301	
Restricted for debt service	3,775,375	
Unrestricted		65,263 	
Total net position	 $	6,034,939 	

See notes to the financial statements

GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT FLAGLER COUNTY, FLORIDA
STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

		

Program Revenues		Net (Expense) Revenue and Changes in Net
Position	
	Charges	Operating Grants	Capital		
	for	and	Grants and	Governmental	
Functions/Programs	Expenses	Services	Contributions	Contributions	Activities	
Primary government:						
Governmental activities:						
General government	$	79,090	$	79,090	$	1,486	$	-	$	1,486	
Maintenance and operations	75,872	140,598	-	189,609	254,335	
Interest on long-term debt	775,093	3,070,362	76,287	-	2,371,556	
Total governmental activities	930,055	3,290,050	77,773	189,609	2,627,377	

Change in net position	
2,627,377	
Net position - beginning		3,407,562 	
Net position - ending	 $	6,034,939 	

See notes to the financial statements

GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT FLAGLER COUNTY, FLORIDA
BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2025

	Major Funds		Total

Debt
General	Service

Capital Projects

Governmental Funds

ASSETS
Cash and cash equivalents	
$	54,872	
$	-	
$	-	
$	54,872	
Investments	-	4,096,591	37,052	4,133,643	
Prepaid items	11,173	-	-	11,173	
Total assets	$	66,045	$ 4,096,591	$	37,052	$  4,199,688	

LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable	

$	

782	

$	-	

$	

-	

$	

782	
Contracts and retainage payable	-	-	462,110	462,110	
Total liabilities	782	-	462,110	462,892	

Fund balances: Nonspendable:
Prepaid items Restricted for:
Debt service		11,173

-		-

4,096,591		-

-		11,173

4,096,591	
Unassigned		54,090		-		(425,058)		(370,968)	
Total fund balances		65,263		4,096,591		(425,058)		3,736,796	

Total liabilities and fund balances	
$	
66,045	
$	
4,096,591	
$	
37,052	
$	
4,199,688	

See notes to the financial statements

GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT FLAGLER COUNTY, FLORIDA
RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION
SEPTEMBER 30, 2025

Fund balance - governmental funds	$	3,736,796 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, therefore, 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 position of the government as a whole.
Cost of capital assets	16,333,159
Accumulated depreciation		-   16,333,159
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	(321,216)	
Original issue discount	16,200	
Bonds Payable	  (13,730,000)	(14,035,016) 	
Net position of governmental activities	$	6,034,939	

See notes to the financial statements

GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT FLAGLER COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

		Major Funds			Total	
				Debt			Governmental	
		General		Service	Capital Projects		Funds	
REVENUES									
Special assessments	$	219,688	$	3,070,362	$	-	$	3,290,050	
Developer contributions		1,486		-		-		1,486	
Interest earnings		-		76,287		189,609		265,896	
Total revenues		221,174		3,146,649		189,609		3,557,432	

EXPENDITURES									
Current:									
General government		79,090		-		-		79,090	
Maintenance and operations		75,872		-		-		75,872	
Debt service:									
Principal		-		95,000		-		95,000	
Interest		-		667,665		-		667,665	
Capital outlay		-		-		7,132,741		7,132,741	
Total expenditures		154,962		762,665		7,132,741		8,050,368	

Excess (deficiency) of revenues									
over (under) expenditures		66,212		2,383,984		(6,943,132)		(4,492,936)	
OTHER FINANCING SOURCES (USES)									
Transfers in (out)		-		(42,362)		42,362		-	
Total other financing sources (uses)		-		(42,362)		42,362		-	

Net change in fund balances		
66,212		
2,341,622		
(6,900,770)		
(4,492,936)	
Fund balances - beginning		(949)		1,754,969		6,475,712		8,229,732	

Fund balances - ending	
$	
65,263	
$	
4,096,591	
$	
(425,058)	
$	
3,736,796	

See notes to the financial statements

GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT FLAGLER 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, 2025

Net change in fund balances - total governmental funds	$ (4,492,936)	
Amounts reported for governmental activities in the statement of activities are different because:		
Governmental funds report capital outlays as expenditures; however, the cost of those assets is eliminated in the statement of activities and capitalized in the statement of net position.	

7,132,741	
Repayment of long-term liabilities are reported as expenditures in the governmental fund statements, but such repayments reduce liabilities in the statement of net position and are eliminated in the statement of activities.	

95,000	
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.	

(535)	
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.	

	(106,893) 	
Change in net position of governmental activities	$	2,627,377	

See notes to the financial statements

GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT FLAGLER COUNTY, FLORIDA
NOTES TO FINANCIAL STATEMENTS

NOTE 1 - NATURE OF ORGANIZATION AND REPORTING ENTITY

Gardens at Hammock Beach Community Development District (the "District") was established by the Board of Commissioners of Flagler County’s approval of Ordinance No. 2006-21 effective on October 9, 2006 pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes. The Act provides among other things, the power to manage basic services for community development, power to borrow money and issue bonds, and to levy and assess non-ad valorem assessments for the financing and delivery of capital infrastructure.

The District was established for the purposes of financing and managing the acquisition, construction, maintenance and operation of a portion of the infrastructure necessary for community development within the District.
The District is governed by the Board of Supervisors ("Board"), which is composed of five members. The Supervisors are elected on an at large basis by the owners of the property within the District. The Board exercises all powers granted to the District pursuant to Chapter 190, Florida Statutes.

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

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

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

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

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

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

The District reports the following major governmental fund:

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.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

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

Deposits and Investments
The District’s cash and cash equivalents are considered to be cash on hand and demand deposits (interest and non-interest bearing).
The District has elected to proceed under the Alternative Investment Guidelines as set forth in Section
218.415 (17) Florida Statutes. The District may invest any surplus public funds in the following:
The Local Government Surplus Trust Funds, or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act;
Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency;
Interest bearing time deposits or savings accounts in qualified public depositories;
Direct obligations of the U.S. Treasury.
Securities listed in paragraph c and d shall be invested to provide sufficient liquidity to pay obligations as they come due.

The District records all interest revenue related to investment activities in the respective funds. Investments are measured at amortized cost or reported at fair value as required by generally accepted accounting principles.
Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements.
Capital Assets
Capital assets which include property, plant and equipment, and infrastructure assets (e.g., roads, sidewalks and similar items) are reported in the government activities columns in the government-wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than $5,000 and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value at the date of donation.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets’ lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed.
In the governmental fund financial statements, amounts incurred for the acquisition of capital assets are reported as fund expenditures. No depreciation has been taken in the current fiscal 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.

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

In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.

Fund Equity/Net Position
In the fund financial statements, governmental funds report non spendable and restricted fund balance for amounts that are not available for appropriation or are legally restricted by outside parties for use for a specific purpose. Assignments of fund balance represent tentative management plans that are subject to change.

The District can establish limitations on the use of fund balance as follows:
Committed fund balance – Amounts that can be used only for the specific purposes determined by a formal action (resolution) of the Board of Supervisors. Commitments may be changed or lifted only by the Board of Supervisors taking the same formal action (resolution) that imposed the constraint originally. Resources accumulated pursuant to stabilization arrangements sometimes are reported in this category.

Assigned fund balance – Includes spendable fund balance amounts established by the Board of Supervisors that are intended to be used for specific purposes that are neither considered restricted nor committed. The Board may also assign fund balance as it does when appropriating fund balance to cover differences in estimated revenue and appropriations in the subsequent year’s appropriated budget. Assignments are generally temporary and normally the same formal action need not be taken to remove the assignment.

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

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

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

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

NOTE 3 - BUDGETARY INFORMATION

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

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

NOTE 4 – DEPOSITS 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.

NOTE 4 – DEPOSITS AND INVESTMENTS (Continued)

Investments
The District’s investments were held as follows at September 30, 2025:

	Amortized Cost	Credit Risk	Maturities	
US Bank Money Market Funds	 $	4,133,643 	Not rated	Not applicable	
	 $	4,133,643 			

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.
However, the Bond Indenture limits the type of investments held using unspent proceeds.

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 TRANSFERS

Interfund transfers for the fiscal year ended September 30, 2025, were as follows:
 Fund	Transfer in	Transfer out	
Debt service	$	-	$	42,362	
Capital projects		42,362	-		
Total	 $	42,362	$	42,362 	

Transfers are used to move revenues from the fund where collection occurs to the fund where funds have been reallocated for use. In the case of the District, transfers from the debt service fund to the capital projects fund were made in accordance with the Bond Indentures.

NOTE 6 – CAPITAL ASSETS

Capital asset activity for the fiscal year ended September 30, 2025, was as follows:

Beginning Balance

Additions	Reductions

Ending Balance

Governmental activities
Capital assets, not being depreciated		
Land	$	50,000	$	-	$	-	$	50,000	
Infrastructure under construction	9,150,418	7,132,741	-	16,283,159	
Total capital assets, not being depreciated	9,200,418	7,132,741	-	16,333,159	

Governmental activities capital assets, net	
$	9,200,418	
$	7,132,741	
$	-	$	16,333,159	
The infrastructure intended to serve the District has been estimated at a total cost of approximately
$21,700,000. The infrastructure will include roadways, potable water and wastewater systems, and land improvements, including wetland mitigation areas and other improvements. A portion of the project costs is expected to be financed with the proceeds from the issuance of Bonds with the remainder to be funded by the Developer and conveyed to the District. Upon completion, certain improvements are to be conveyed to others for ownership and maintenance responsibilities.

NOTE 7 – LONG-TERM LIABILITIES

Series 2024 Bonds
On June 21, 2024, the District issued $5,040,000 of Special Assessment Bonds, Series 2024-1 and
$8,785,000 of Special Assessments Series 2024-2, together the “Series 2024 Bonds.” The Series 2024 Bonds consist of various Term Bonds with due dates from May 1, 2031 to May 1, 2055 and fixed interest rates ranging from 4.8% to 5.875%. 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, 2025, through May 1, 2055.
The Series 2024 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. This occurred during the current fiscal year as the District collected assessments from lot closings and prepaid
$25,000 of the Series 2024-1 Bonds. See Note 13 - Subsequent Events for additional call amounts subsequent to the fiscal year end.
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. Upon satisfaction of certain conditions, a portion of the original reserve requirements will be transferred to the acquisition and construction trust account to pay for project costs in accordance with the bond indenture; this did not occur during the current fiscal year. The District was in compliance with the requirements at September 30, 2025.

NOTE 7 – LONG-TERM LIABILITIES (Continued)

Long-term Debt Activity
Changes in long-term liability activity for the fiscal year ended September 30, 2025, were as follows:

	Beginning
Balance	
Additions	
Reductions	Ending
Balance	Due Within
One Year	
Governmental activities Bonds payable:
Series 2024-1	

$	5,040,000	

$	-	$	

95,000	

$	4,945,000	

$	75,000	
Series 2024-2	8,785,000	-	-	8,785,000	120,000	
Less: original issue discount	(16,735)	-	(535)	(16,200)	-	
Total	$	13,808,265	$	-	$	94,465	$	13,713,800	$	195,000	
At September 30, 2025, the scheduled debt service requirements on the long-term debt were as follows:

Year ending

	Governmental Activities	

  September 30:	Principal	Interest	Total	
2026	$	195,000	$	771,200	$	966,200	
2027	205,000	761,600	966,600	
2028	210,000	751,510	961,510	
2029	225,000	741,170	966,170	
2030	235,000	730,090	965,090	
2031-2035	1,375,000	3,455,035	4,830,035	
2036-2040	1,820,000	3,031,337	4,851,337	
2041-2045	2,390,000	2,470,503	4,860,503	
2046-2050	3,180,000	1,705,077	4,885,077	
2051-2055		3,895,000	667,917	4,562,917 	
	 $	13,730,000	$	15,085,439	$	28,815,439 	

NOTE 8 – DEVELOPER TRANSACTIONS

The Developer has agreed to fund the general operations of the District. In connection with that agreement, Developer contributions to the general fund were $1,486 as of September 30, 2025.
The Developer owns a portion 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 Developer and major landowners, 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 advisory services. Certain employees of the management company also serve as officers of the District. Under the agreement, the District compensates the management company for management, accounting, financial reporting, computer and other administrative costs.

NOTE 11 – COMMITMENTS AND CONTINGENCIES
As of September 30, 2025, the District had an open contract for construction projects. The contract totaled approximately $7.7 million, of which approximately $600,000 was uncompleted at September 30, 2025. Since the Series 2024-2 construction and acquisition account has no funds as of September 30, 2025, the Developer is expected to fund the remaining contract amount.

NOTE 12 – 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 13 – SUBSEQUENT EVENTS

Subsequent to fiscal year end, the District prepaid a total of $2,925,000 of the Series 2024-2 Bonds. The prepayments were considered extraordinary mandatory redemptions as outlined in the Bond Indenture.

GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT FLAGLER COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

	

 Budgeted Amounts Original and Final	

Actual Amounts	Variance with Final Budget - Positive
(Negative)	

REVENUES
Assessments	

$	215,903	

$	219,688	

$	3,785	
Developer Contributions	106,047	1,486	(104,561)	
Total revenues	321,950	221,174	(100,776)	

EXPENDITURES
Current:
General government	87,580	79,090	8,490	
Maintenance and operations	234,370	75,872	158,498	
Total expenditures	321,950	154,962	166,988	

Excess (deficiency) of revenues over (under) expenditures	

 $	-		

66,212	

 $	66,212 	
Fund balance - beginning			(949) 		
Fund balance - ending		 $	65,263 		

See notes to required supplementary information

GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT FLAGLER 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, 2025.

GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT FLAGLER COUNTY, FLORIDA
OTHER INFORMATION – DATA ELEMENTS REQUIRED BY FL STATUTE 218.39(3)(C)
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025 UNAUDITED

Element	Comments
Number of District employees compensated in the last pay period of the District’s fiscal year being reported.	0	
Number of independent contractors compensated to whom nonemployee compensation was paid in the last month of the District’s fiscal year being reported.	
5	
Employee compensation	$1,477.60	
Independent contractor compensation	$134,378.99	
Construction projects to begin on or after October 1; ($65K)	Not applicable	

Budget variance report	See the Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund	
Ad Valorem taxes	Not applicable	
		
Non ad valorem special assessments		
Special assessment rate	Operations and maintenance - $141.64 - $940 Debt service 2024-1- $1,750
Debt service 2024-2 - $5,309	
Special assessments collected	$3,290,050	
Outstanding Bonds:		
Series 2024-1, due May 1, 2055	$4,945,000	
Series 2024-2, due May 1, 2055	$8,785,000	

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
To the Board of Supervisors
Gardens at Hammock Beach Community Development District Flagler 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 Gardens at Hammock Beach Community Development District, Flagler County, Florida (“District”) as of and for the fiscal year ended September 30, 2025, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our opinion thereon dated April 14, 2026.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the District’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified.
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the District’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

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

April 14, 2026

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10) OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
To the Board of Supervisors
Gardens at Hammock Beach Community Development District Flagler County, Florida
We have examined Gardens at Hammock Beach Community Development District, Flagler County, 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, 2025. Management is responsible for the District’s compliance with those requirements. Our responsibility is to express an opinion on District’s compliance based on our examination.

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

We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the examination engagement.
In our opinion, the District complied, in all material respects, with the aforementioned requirements for the fiscal year ended September 30, 2025.
This report is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, management, and the Supervisors of Gardens at Hammock Beach Community Development District, Flagler County, Florida and is not intended to be and should not be used by anyone other than these specified parties.

April 14, 2026

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL FOR THE STATE OF FLORIDA
To the Board of Supervisors
Gardens at Hammock Beach Community Development District Flagler County, Florida

Report on the Financial Statements
We have audited the accompanying basic financial statements of Gardens at Hammock Beach Community Development District, Flagler County, Florida ("District") as of and for the fiscal year ended September 30, 2025, and have issued our report thereon dated April 14, 2026.

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 April 14, 2026, should be considered in conjunction with this management letter.

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

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

Our management letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, Federal and other granting agencies, as applicable, management, and the Board of Supervisors of Gardens at Hammock Beach Community Development District, Flagler County, Florida and is not intended to be and should not be used by anyone other than these specified parties.

We wish to thank Gardens at Hammock Beach Community Development District, Flagler 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.

April 14, 2026

REPORT TO MANAGEMENT

CURRENT YEAR FINDINGS AND RECOMMENDATIONS
None

PRIOR YEAR FINDINGS AND RECOMMENDATIONS

None
COMPLIANCE WITH THE PROVISIONS OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

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

A statement as to whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report.
There were no significant findings and recommendations made in the preceding annual financial audit report for the fiscal year ended September 30, 2024.
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, 2025.
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, 2025.
The name or official title and legal authority of the District are disclosed in the notes to the financial statements.
The District has not met any of the financial emergency conditions described in Section 218.503(1), Florida Statutes.
We applied financial condition assessment procedures and no deteriorating financial conditions were noted as of September 30, 2025. It is management’s responsibility to monitor financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same.

Management has provided the specific information required by Section 218.39(3)(c) in the Other Information section of the financial statements on page 24.

April 14, 2026

To the Board of Supervisors
Gardens at Hammock Beach Community Development District Flagler County, Florida

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

We have audited the financial statements of Gardens at Hammock Beach Community Development District (“District”) as of and for the fiscal year ended September 30, 2025, and have issued our report thereon dated April 14, 2026. Professional standards require that we advise you of the following matters relating to our audit.
We have also examined the District’s 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, 2025 which was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.

Our Responsibility in Relation to the Financial Statement Audit

Our responsibility, as described by professional standards, is to form and express an opinion(s) about whether the financial statements that have been prepared by management with your oversight are presented fairly, in all material respects, in accordance with accounting principles generally accepted in the United States of America. Our audit of the financial statements does not relieve you or management of your respective responsibilities.

Our responsibility, as prescribed by professional standards, is to plan and perform our audit to obtain reasonable, rather than absolute, assurance about whether the financial statements are free of material misstatement. An audit of financial statements includes consideration of internal control over financial reporting as a basis for designing 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 over financial reporting. Accordingly, as part of our audit, we considered the internal control of the District solely for the purpose of determining our audit procedures and not to provide any assurance concerning such internal control.

We are also responsible for communicating significant matters related to the audit that are, in our professional judgment, relevant to your responsibilities in overseeing the financial reporting process.
However, we are not required to design procedures for the purpose of identifying other matters to communicate to you.

Any findings regarding significant deficiencies or material weaknesses in internal control over financial reporting, material noncompliance, or other matters noted during our audit, if any, are communicated in separate reports included in the District’s financial report—titled Independent Auditor’s Report on Internal Control Over Financial Reporting and Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards and Management Letter Pursuant to the Rules of the Auditor General of the State of Florida.

Planned Scope and Timing of the Audit
We conducted our audit consistent with the planned scope and timing we previously communicated to you.

Compliance with All Ethics Requirements Regarding Independence

The engagement team, others in our firm, as appropriate, and our firm, have complied with all relevant ethical requirements regarding independence.
With respect to financial statement preparation, the following safeguards are in place:
Management made all decisions and performed all management functions;
A competent individual was assigned to oversee the services;
Management evaluated the adequacy of the services performed;
Management evaluated and accepted responsibility for the result of the service performed; and
Management established and maintained internal controls, including monitoring ongoing activities.
Qualitative Aspects of the Entity’s Significant Accounting Practices
Significant Accounting Policies

Management is responsible for selecting and applying appropriate accounting policies. A summary of the significant accounting policies adopted by the District is included in Note 2 to the financial statements. There were no new accounting policies adopted and no changes in existing significant accounting policies or their application during the fiscal year, other than those described in Note 2, if any. No matters came to our attention that, under professional standards, we are required to inform you about concerning (1) the methods used to account for significant unusual transactions or (2) the effect of significant accounting policies in controversial or emerging areas for which there is a lack of authoritative guidance or consensus.
Significant Accounting Estimates

Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s current judgments. Those judgments normally reflect management’s knowledge and experience about past and current events and assumptions about future events.

Certain accounting estimates, if present, may be particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them could differ markedly from management’s current judgments.

In connection with our audit, we considered the reasonableness of the accounting estimates used by management. The most sensitive accounting estimate(s) affecting the financial statements included, as applicable:

Management’s estimate of the useful lives of capital assets.
Management’s estimate of the liability for employee compensated absences.
Management’s estimate of the Net Other Post-Employment Benefits (OPEB) liability.
Management’s estimate of the Net Pension Liability.

If none of the above estimates or other sensitive estimates were applicable in the current year, this section should be read to indicate that no such significant accounting estimates were identified.

We evaluated the key factors and assumptions used by management to develop the estimate(s) and determined that they were reasonable in relation to the financial statements taken as a whole.

Financial Statement Disclosures

Certain financial statement disclosures involve significant judgment and are particularly sensitive because of their significance to financial statement users. The most sensitive disclosures affecting the District’s financial statements included, as applicable:

Long-term liabilities related to bonds payable and debt service requirements.
Litigation, claims, and assessments related to pending legal matters; and
Pension and Other Post-Employment Benefit (OPEB) plan disclosures.
If no such disclosures were identified for the current year, this section should be read to indicate that we did not note any financial statement disclosures involving significant judgment or sensitivity.

Circumstances Affecting the Auditor’s Report

Professional standards require us to communicate any circumstances that affect the form or content of our auditor’s report. If applicable, such circumstances—such as a modification of opinion, an emphasis-of-matter or other-matter paragraph, or a reference to substantial doubt about the District’s ability to continue as a going concern—are described in our auditor’s report included in the District’s financial report. If no such circumstances existed, this section should be read to indicate that our report was unmodified.

Significant Difficulties Encountered during the Audit

We encountered no significant difficulties in dealing with management relating to the performance of the audit.
Corrected Misstatements

Professional standards require us to communicate all material misstatements identified and corrected during the audit. Management has corrected all misstatements that were identified as a result of our audit procedures. Any such audit adjustments, if applicable, are summarized in the accompanying schedule of journal entries. If none were identified, this section should be read to indicate that we did not note any misstatements that were material, individually or in the aggregate, to the financial statements taken as a whole.

Disagreements with Management
For purposes of this letter, professional standards define a disagreement with management as a matter, whether or not resolved to our satisfaction, concerning a financial accounting, reporting, or auditing matter, which could be significant to the Districts’s financial statements or the auditor’s report. No such disagreements arose during the course of the audit.

Representations Requested from Management

Professional standards require that we obtain certain written representations from management as part of our audit. We have received such representations in a letter. A copy of this letter is available for your review upon request.

Management’s Consultations with Other Accountants
In some cases, management may decide to consult with other accountants about auditing and accounting matters. Management informed us that, and to our knowledge, there were no consultations with other accountants regarding auditing and accounting matters.

Other Significant Matters, Findings, or Issues

In the normal course of our professional association with the District, we generally discuss a variety of matters, including the application of accounting principles and auditing standards, significant events or transactions that occurred during the year, operating and regulatory conditions affecting the entity, and operational plans and strategies that may affect the risks of material misstatement. None of the matters discussed resulted in a condition to our retention as the District’s auditors.

As noted previously in this letter, any current-year findings identified during our audit are communicated in our separate reports titled Independent Auditor’s Report on Internal Control Over Financial Reporting and Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards and Management Letter Pursuant to the Rules of the Auditor General of the State of Florida. If no findings were identified, this section should be read to indicate that we did not note any additional significant matters or findings requiring communication to those charged with governance.

This report is intended solely for the information and use of the Board of Supervisors and management of the District and is not intended to be and should not be used by anyone other than these specified parties.

Grau & Associates

Section VI

James E. Gardner Jr., CFA Flagler County Property Appraiser Data – Sharing and Usage Agreement

GARDENS AT HAMMOCK BEACH
This Data Sharing and Usage Agreement, hereafter referred to as “Agreement,” establishes the terms and conditions under which the GARDENS AT HAMMOCK BEACH, hereafter referred to as agency, can acquire and use Flagler County Property Appraiser (FCPA) data that is exempt from Public Records disclosure as defined in FS 119.071.
As of July 1, 2021, the Florida Public Records Exemptions Statute was amended as it relates to the publicly available records maintained by the county property appraiser and tax collector. As a result, exempt (aka confidential) parcels and accounts have been added back to our website and data files. No owner names, mailing addresses, or official records (OR) book and pages of recorded documents related to these parcels/accounts, appear on the Property Appraiser’s website or in data files. In addition, the Flagler County Property Appraiser’s mapping site has been modified to accommodate the statutory change. See Senate Bill 781 for additional information.
The confidentiality of personal identifying information including names, mailing address and OR Book and Pages owned by individuals that have received exempt/confidential status, hereinafter referred to as “confidential data”, will be protected as follows:
The agency will not release “confidential data” that may reveal identifying information of individuals exempted from Public Records disclosure.
The agency will not present the “confidential data” in the results of data analysis (including maps) in any manner that would reveal personal identifying information of individuals exempted from Public Records disclosure.
The agency shall comply with all state laws and regulations governing the confidentiality and exempt status of personal identifying information that is the subject of this Agreement.
The agency shall ensure any employee granted access to “confidential data” is subject to the terms and conditions of this Agreement.
The agency shall ensure any third party granted access to “confidential data” is subject to the terms and conditions of this Agreement. Acceptance of these terms must be provided in writing to the agency by the third party before personal identifying information is released.
The term of this Agreement shall commence on July 1, 2025, and shall run until June 30, 2026, the date of signature by the parties notwithstanding. This Agreement shall not automatically renew. A new agreement will be provided annually for the following year.
IN WITNESS THEREOF, both the Flagler County Property Appraiser, through its duly authorized representative, and the agency, through its duly authorized representative, have hereunto executed this Data Sharing and Usage Agreement as of the last below written date.

FLAGLER COUNTY PROPERTY APPRAISER	GARDENS AT HAMMOCK BEACH

Signature:		Signature:	 		
Print:	_James E. Gardner Jr., CFA		Print:	 		
		Title:	 		
Date:	 		Date:	 		

Section VII

RESOLUTION 2026-01
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2026/2027 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW; ADDRESSING TRANSMITTAL, POSTING AND PUBLICATION REQUIREMENTS; ADDRESSING SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has heretofore prepared and submitted to the Board of Supervisors (“Board”) of the Gardens at Hammock Beach Community Development District (“District”) prior to June 15, 2026, a proposed budget (“Proposed Budget”) for the fiscal year beginning October 1, 2026 and ending September 30, 2027 (“Fiscal Year 2026/2027”); and

WHEREAS, the Board has considered the Proposed Budget and desires to set the required public hearing thereon.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT:
PROPOSED BUDGET APPROVED. The Proposed Budget prepared by the District Manager for Fiscal Year 2026/2027 attached hereto as Exhibit A is hereby approved as the basis for conducting a public hearing to adopt said Proposed Budget.
SETTING A PUBLIC HEARING. A public hearing on said approved Proposed Budget is hereby declared and set for the following date, hour and location:

DATE:	August 14, 2026
HOUR:	12:00 P.M.
LOCATION:	Hilton Garden Inn Palm Coast/Town Center 55 Town Center, Blvd
Palm Coast, Florida
TRANSMITTAL  OF  PROPOSED  BUDGET  TO  LOCAL  GENERAL
PURPOSE GOVERNMENT. The District Manager is hereby directed to submit a copy of the Proposed Budget to Flagler County at least 60 days prior to the hearing set above.
POSTING OF PROPOSED BUDGET. In accordance with Section 189.016, Florida Statutes, the District’s Secretary is further directed to post the approved Proposed Budget on the District’s website at least two days before the budget hearing date as set forth in Section 2, and shall remain on the website for at least 45 days.

PUBLICATION OF NOTICE. Notice of this public hearing shall be published in the manner prescribed in Florida law.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.
EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED THIS 15TH DAY OF MAY, 2026.

ATTEST:	GARDENS  AT	HAMMOCK  BEACH	
	COMMUNITY	DEVELOPMENT	
	DISTRICT		

By:	

Secretary/Assistant Secretary	Its:	

Gardens at Hammock Beach
Community Development District

Proposed Budget
FY 2027

Table of Contents

1	General Fund

2-5	General Fund Narrative

6-7	Assessment Area 1 - Special Assessment Bond Series AA1

8-9	Assessment Area 2 - Special Assessment Bond Series AA2

10	Assessment Chart

Gardens at Hammock Beach
Community Development District Proposed Budget
General Fund

		Adopted Budget	Actuals Through	Projected Next	Projected Total Through	Proposed Budget	
	Description	FY2026	4/30/26	5 Months	9/30/26	FY2027	

Revenues							

Developer Contributions	
$	44,594	
$	-	
$	-	
$	-	
$	56,468	
Assessments - Tax Collector	$	314,900	$	203,122	$	111,778	$	314,900	$	314,900	
Miscellaneous Revenue	$	-	$	1,337	$	-	$	1,337	$	-	
Total Revenues	$	359,494	$	204,459	$	111,778	$	316,237	$	371,368	

Expenditures						
Administrative						
Supervisor Fees	$	7,200	$	-	$	1,800	$	1,800	$	7,200	
FICA Expense	$	551	$	-	$	138	$	138	$	551	
Engineering	$	5,000	$	-	$	2,500	$	2,500	$	5,000	
Attorney	$	10,000	$	-	$	5,000	$	5,000	$	10,000	
Dissemination	$	3,605	$	2,703	$	1,502	$	4,205	$	3,821	
Arbitrage	$	450	$	-	$	450	$	450	$	450	
Trustee Fees	$	4,500	$	-	$	2,250	$	2,250	$	4,500	
Annual Audit	$	5,000	$	5,100	$	-	$	5,100	$	5,100	
Management Fees	$	41,200	$	24,033	$	17,167	$	41,200	$	43,672	
Information Technology	$	1,854	$	1,032	$	773	$	1,805	$	1,965	
Website Maintenance	$	1,236	$	721	$	515	$	1,236	$	1,310	
Telephone	$	100	$	-	$	50	$	50	$	100	
Postage	$	750	$	37	$	250	$	287	$	750	
Insurance	$	7,268	$	-	$	7,268	$	7,268	$	7,268	
Printing & Binding	$	500	$	1	$	250	$	251	$	500	
Legal Advertising	$	5,000	$	-	$	2,500	$	2,500	$	5,000	
Other Current Charges	$	610	$	309	$	215	$	524	$	610	
Office Supplies	$	125	$	54	$	71	$	125	$	125	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	95,124	$	34,165	$	42,698	$	76,863	$	98,098	

Field - Assessment Area 1						
Field Management	$	15,000	$	5,000	$	6,250	$	11,250	$	15,900	
Electric - Streetlights	$	45,270	$	19,077	$	13,921	$	32,998	$	45,270	
Electric - Irrigation/Signs	$	4,100	$	1,680	$	1,200	$	2,880	$	4,100	
Water & Sewer	$	30,000	$	-	$	15,000	$	15,000	$	30,000	
Landscape Maintenance	$	130,000	$	31,052	$	31,204	$	62,256	$	130,000	
Landscape Contingency	$	2,000	$	-	$	1,000	$	1,000	$	2,000	
Property Insurance	$	6,000	$	-	$	6,000	$	6,000	$	10,000	
Lake Maintenance	$	15,000	$	2,275	$	1,625	$	3,900	$	15,000	
Stormwater Repairs & Maintenance	$	5,000	$	-	$	2,500	$	2,500	$	5,000	
General Repairs & Maintenance	$	1,000	$	-	$	500	$	500	$	5,000	
Irrigation Repairs	$	5,000	$	1,194	$	853	$	2,047	$	5,000	
Sidewalk/Asphalt Repairs	$	5,000	$	-	$	2,500	$	2,500	$	5,000	
Contingency	$	1,000	$	-	$	500	$	500	$	1,000	

Total Field	$	264,370	$	60,278	$	83,053	$	143,331	$	273,270	
	
Total Expenditures	$	359,494	$	94,443	$	125,751	$	220,194	$	371,368	

Excess Revenues/(Expenditures)

$	0  $

110,016  $

(13,973)  $

96,043  $	-

	Net Annual Per Unit	Net Annual	Net Annual Per Unit	Increase	
Land Use	Units	Fiscal Year 2027	Fiscal Year 2027	Fiscal Year 2026	Per Unit	

Single Family	335	$

940.00  $

314,900  $

940.00  $	-

Net Annual Assessment	 $	314,900 	
Less: Disounts & Collections (6%)	 $	(20,100) 	
Gross Annual Assessments	 $	335,000 	

Gardens at Hammock Beach Community Development District GENERAL FUND BUDGET

REVENUES:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the fiscal year.

Developer Contributions

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

EXPENDITURES:

General & Administrative:

Supervisors Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each supervisor for the time devoted to District business and meetings. The amount is based on 3 supervisors attending 12 meetings during the fiscal year.

FICA Expense

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

Engineering

The District's engineer provides general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices, etc. The District has contracted with Parker, Mynchenberg & Associates, Inc. for this service.

Attorney

Gardens at Hammock Beach Community Development District GENERAL FUND BUDGET

The District's legal counsel provides general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager. The District has contract with Chiumento, Dwyer, Hertel, Grant, P.L. for this service.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. Governmental Management Services – Central Florida, LLC provides these services.

Arbitrage

The District will contract with AMTEC, an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on any future bond issuance.

Trustee Fees

The District will pay annual trustee fees for any future bond issuance that are deposited with a Trustee at US Bank, N.A.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. Grau & Associates will provide this services.

Management Fees

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

Information Technology

Represents various cost of information technology for the District such as video conferencing,	cloud	storage	and	servers,	positive	pay	implementation	and

Gardens at Hammock Beach Community Development District GENERAL FUND BUDGET
programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc. Governmental Management Services – Central Florida, LLC provides these services.

Website Maintenance

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

Telephone

Telephone and fax machine.

Postage

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

Insurance

The District’s general liability and public officials liability insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Printing & Binding

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

Legal Advertising

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

Other Current Charges

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

Gardens at Hammock Beach Community Development District GENERAL FUND BUDGET

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc. Governmental Management Services – Central Florida, LLC provides these services.
Dues, Licenses & Subscriptions

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

Field – Assessment Area 1:

Field Management

The District will contract to provide onsite field management of contracts for District Services such as landscape maintenance. Services to include weekly site inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Electric – Streetlights

The District will incur cost for electric for streetlights.

Electric – Irrigation/Signs

The District will incur cost for electric for irrigation timers.

Water & Sewer

The District incurs cost for water. The District will contract with a utility company to provide this service.

Landscape Maintenance

Gardens at Hammock Beach Community Development District GENERAL FUND BUDGET
The District will incur landscape maintenance expenses, which include mowing, edging, string-trimming, annual flower replacements, shrub and palm pruning, weeding, fertilization, pine straw, pest control and irrigation inspections during the fiscal year.

Landscape Contingency

To record the cost of landscape enhancements as well as any miscellaneous landscape items currently not budgeted or covered in landscape contract.

Property Insurance

The District's Property Insurance policy will contract with Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies. The amount budgeted represents the estimated premium for property insurance related to the District.
Lake Maintenance

The District will contract to provide for the few Stormwater management facilities that the CDD will own and maintain.

Stormwater Repairs & Maintenance

Cost of repairs and maintenance to the stormwater systems of the District.

General Repairs and Maintenance

Cost of repairs and maintenance throughout the common area of the District.

Irrigation Repairs

To record the cost of repairs to the irrigation system and preventative maintenance on the irrigation pump station.

Sidewalk/Asphalt Repairs

To record the cost of repairs to the sidewalks and asphalt.

Contingency
To record the cost of any maintenance expenses not properly classified in any of the other accounts.

Gardens at Hammock Beach
Community Development District
Proposed Budget
Debt Service Fund Budget - Special Assessment Bonds, Series 2024-1 (AA1)

	Adopted	Actuals	Projected	Projected	Proposed	
	Budget	Through	Next	Total Through	Budget	
	Description	FY2026	4/30/26		5 Months		9/30/26	FY2027	

REVENUES:							

Special Assessments	
$	345,438	
$	220,272	
$	125,166	
$	345,438	
$	345,438	
Special Assessments - Prepayments	$	-	$	-	$	-	$	-	$	-	
Interest Earnings	$	7,500	$	10,052	$	5,026	$	15,077	$	7,500	
Carry Forward Surplus	$	158,490	$	152,560	$	-	$	152,560	$	167,852	
TOTAL REVENUES	$  511,428	$	382,884	$  130,192	$	513,075	$	520,791	

EXPENDITURES:						
Interest - 11/1	$	135,182	$	135,041	$	-	$	135,041	$	133,382	
Interest - 5/1	$	135,182	$	-	$	135,182	$	135,182	$	133,382	
Principal - 5/1	$	75,000	$	-	$	75,000	$	75,000	$	80,000	
TOTAL EXPENDITURES	$  345,364	$	135,041	$  210,182	$	345,223	$	346,764	

Other Sources/(Uses)						

Bond Proceeds	
$	-	
$	
-	
$	
-	
$	
-	
$	
-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$  345,364	$	135,041	$  210,182	$	345,223	$	346,764	
						
EXCESS REVENUES (EXPENDITURES)	$  166,064	$	247,843	$	(79,990)	$	167,852	$	174,027	
						
Units	Gross Per Unit	Gross Annual		Interest Due 11/1/27	$131,462	
						
210	$1,750	$367,487			$131,462	

Total Gross Assessment		
$	367,487				
Less: Discounts & Collection (6%)		$	(22,049)				
Net Annual Assessment		$	345,438				

(1) Carry Forward is Net of Reserve Requirement

Gardens at Hammock Beach
Community Development District
AMORTIZATION SCHEDULE

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

05/01/25	
5,020,000	
4.800%	
70,000	
136,862		
11/01/25	4,950,000	4.800%		135,182	342,043.76	
05/01/26	4,950,000	4.800%	75,000	135,182		
11/01/26	4,875,000	4.800%		133,382	343,563.76	
05/01/27	4,875,000	4.800%	80,000	133,382		
11/01/27	4,795,000	4.800%		131,462	344,843.76	
05/01/28	4,795,000	4.800%	80,000	131,462		
11/01/28	4,715,000	4.800%		129,542	341,003.76	
05/01/29	4,715,000	4.800%	85,000	129,542		
11/01/29	4,630,000	4.800%		127,502	342,043.76	
05/01/30	4,630,000	4.800%	90,000	127,502		
11/01/30	4,540,000	4.800%		125,342	342,843.76	
05/01/31	4,540,000	4.800%	95,000	125,342		
11/01/31	4,445,000	4.800%		123,062	343,403.76	
05/01/32	4,445,000	5.375%	100,000	123,062		
11/01/32	4,345,000	5.375%		120,374	343,436.26	
05/01/33	4,345,000	5.375%	105,000	120,374		
11/01/33	4,240,000	5.375%		117,553	342,926.88	
05/01/34	4,240,000	5.375%	110,000	117,553		
11/01/34	4,130,000	5.375%		114,596	342,148.75	
05/01/35	4,130,000	5.375%	115,000	114,596		
11/01/35	4,015,000	5.375%		111,506	341,101.88	
05/01/36	4,015,000	5.375%	125,000	111,506		
11/01/36	3,890,000	5.375%		108,146	344,651.88	
05/01/37	3,890,000	5.375%	130,000	108,146		
11/01/37	3,760,000	5.375%		104,653	342,798.75	
05/01/38	3,760,000	5.375%	140,000	104,653		
11/01/38	3,620,000	5.375%		100,890	345,542.50	
05/01/39	3,620,000	5.375%	145,000	100,890		
11/01/39	3,475,000	5.375%		96,993	342,883.13	
05/01/40	3,475,000	5.375%	155,000	96,993		
11/01/40	3,320,000	5.375%		92,828	344,820.63	
05/01/41	3,320,000	5.375%	160,000	92,828		
11/01/41	3,160,000	5.375%		88,528	341,355.00	
05/01/42	3,160,000	5.375%	170,000	88,528		
11/01/42	2,990,000	5.375%		83,959	342,486.25	
05/01/43	2,990,000	5.375%	180,000	83,959		
11/01/43	2,810,000	5.375%		79,121	343,080.00	
05/01/44	2,810,000	5.375%	190,000	79,121		
11/01/44	2,620,000	5.375%		74,015	343,136.25	
05/01/45	2,620,000	5.650%	200,000	74,015		
11/01/45	2,420,000	5.650%		68,365	342,380.00	
05/01/46	2,420,000	5.650%	210,000	68,365		
11/01/46	2,210,000	5.650%		62,433	340,797.50	
05/01/47	2,210,000	5.650%	225,000	62,433		
11/01/47	1,985,000	5.650%		56,076	343,508.75	
05/01/48	1,985,000	5.650%	240,000	56,076		
11/01/48	1,745,000	5.650%		49,296	345,372.50	
05/01/49	1,745,000	5.650%	250,000	49,296		
11/01/49	1,495,000	5.650%		42,234	341,530.00	
05/01/50	1,495,000	5.650%	265,000	42,234		
11/01/50	1,230,000	5.650%		34,748	341,981.25	
05/01/51	1,230,000	5.650%	280,000	34,748		
11/01/51	950,000	5.650%		26,838	341,585.00	
05/01/52	950,000	5.650%	300,000	26,838		
11/01/52	650,000	5.650%		18,363	345,200.00	
05/01/53	650,000	5.650%	315,000	18,363		
11/01/53	335,000	5.650%		9,464	342,826.25	
05/01/54	335,000	5.650%	335,000	9,464	344,463.75	
Total				$	5,020,000	$	5,269,759	$  10,289,759	

$	-	

Gardens at Hammock Beach
Community Development District
Proposed Budget
Debt Service Fund Budget - Special Assessment Bonds, Series 2024-2 (AA2)

	Adopted
Budget	Actuals
Through	Projected
Next	Projected
Total Through	Proposed
Budget	
	Description	FY2026	4/30/26		5 Months		9/30/26	FY2027	

REVENUES:						

Special Assessments	$	618,857	
$	235,459	
$	120,000	
$	355,459	
$	414,761	
Interest Earnings	$	20,000	$	32,564	$	16,282	$	48,846	$	20,000	
Carry Forward Surplus	$	305,280	$	3,184,915	$	-	$	3,184,915	$	166,476	
TOTAL REVENUES	$	944,137	$ 3,452,938	$	136,282	$	3,589,220	$	601,237	

EXPENDITURES:					
Interest - 11/1	$	250,418	$	250,418	$	-	$	250,418	$	165,039	
Special Call - 11/1	$	-	$	2,905,000	$	-	$	2,905,000	$	-	
Special Call - 2/1	$	-	$	20,000	$	-	$	20,000	$	-	
Interest - 2/1	$	-	$	287	$	-	$	287	$	-	
Interest - 5/1	$	250,418	$	-	$	167,039	$	167,039	$	165,039	
Principal - 5/1	$	120,000	$	-	$	80,000	$	80,000	$	85,000	
TOTAL EXPENDITURES	$	620,836	$ 3,175,705	$	247,039	$	3,422,744	$	415,078	

Other Sources/(Uses)					

Bond Proceeds	$	
-	
$	
-	
$	-	
$	
-	
$	
-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	

TOTAL EXPENDITURES	$	620,836	$	3,175,705	$	247,039	$	3,422,744	$	415,078	
						
EXCESS REVENUES (EXPENDITURES)	$	323,301	$	277,233	$	(110,757)	$	166,476	$	186,159	
				
Interest Due 11/1/27	
$162,914	
						$162,914 	
Land Use	Units	Gross Per Unit	Gross Annual			

Single Family	
63	
$5,309.34	
$334,488			
Single Family - Partial Prepayment	61	$1,749.94	$106,746			
Total	124		$441,235			
	
Total Gross Assessment		
$	441,235			

Gardens at Hammock Beach
Community Development District
AMORTIZATION SCHEDULE

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

05/01/26	
5,860,000	
5.000%	
80,000	
167,039		
11/01/26	5,780,000	5.000%		165,039	412,077.50	
05/01/27	5,780,000	5.000%	85,000	165,039		
11/01/27	5,695,000	5.000%		162,914	412,952.50	
05/01/28	5,695,000	5.000%	90,000	162,914		
11/01/28	5,605,000	5.000%		160,664	413,577.50	
05/01/29	5,605,000	5.000%	90,000	160,664		
11/01/29	5,515,000	5.000%		158,414	409,077.50	
05/01/30	5,515,000	5.000%	95,000	158,414		
11/01/30	5,420,000	5.000%		156,039	409,452.50	
05/01/31	5,420,000	5.000%	100,000	156,039		
11/01/31	5,320,000	5.000%		153,539	409,577.50	
05/01/32	5,320,000	5.600%	105,000	153,539		
11/01/32	5,215,000	5.600%		150,599	409,137.50	
05/01/33	5,215,000	5.600%	115,000	150,599		
11/01/33	5,100,000	5.600%		147,379	412,977.50	
05/01/34	5,100,000	5.600%	120,000	147,379		
11/01/34	4,980,000	5.600%		144,019	411,397.50	
05/01/35	4,980,000	5.600%	125,000	144,019		
11/01/35	4,855,000	5.600%		140,519	409,537.50	
05/01/36	4,855,000	5.600%	135,000	140,519		
11/01/36	4,720,000	5.600%		136,739	412,257.50	
05/01/37	4,720,000	5.600%	140,000	136,739		
11/01/37	4,580,000	5.600%		132,819	409,557.50	
05/01/38	4,580,000	5.600%	150,000	132,819		
11/01/38	4,430,000	5.600%		128,619	411,437.50	
05/01/39	4,430,000	5.600%	160,000	128,619		
11/01/39	4,270,000	5.600%		124,139	412,757.50	
05/01/40	4,270,000	5.600%	170,000	124,139		
11/01/40	4,100,000	5.600%		119,379	413,517.50	
05/01/41	4,100,000	5.600%	175,000	119,379		
11/01/41	3,925,000	5.600%		114,479	408,857.50	
05/01/42	3,925,000	5.600%	185,000	114,479		
11/01/42	3,740,000	5.600%		109,299	408,777.50	
05/01/43	3,740,000	5.600%	200,000	109,299		
11/01/43	3,540,000	5.600%		103,699	412,997.50	
05/01/44	3,540,000	5.600%	210,000	103,699		
11/01/44	3,330,000	5.600%		97,819	411,517.53	
05/01/45	3,330,000	5.875%	220,000	97,819		
11/01/45	3,110,000	5.875%		91,356	409,175.00	
05/01/46	3,110,000	5.875%	235,000	91,356		
11/01/46	2,875,000	5.875%		84,453	410,809.38	
05/01/47	2,875,000	5.875%	250,000	84,453		
11/01/47	2,625,000	5.875%		77,109	411,562.51	
05/01/48	2,625,000	5.875%	265,000	77,109		
11/01/48	2,360,000	5.875%		69,325	411,434.38	
05/01/49	2,360,000	5.875%	280,000	69,325		
11/01/49	2,080,000	5.875%		61,100	410,425.00	
05/01/50	2,080,000	5.875%	300,000	61,100		
11/01/50	1,780,000	5.875%		52,288	413,387.50	
05/01/51	1,780,000	5.875%	315,000	52,288		
11/01/51	1,465,000	5.875%		43,034	410,321.88	
05/01/52	1,465,000	5.875%	335,000	43,034		
11/01/52	1,130,000	5.875%		33,194	411,228.13	
05/01/53	1,130,000	5.875%	355,000	33,194		
11/01/53	775,000	5.875%		22,766	410,959.38	
05/01/54	775,000	5.875%	375,000	22,766		
11/01/54	400,000	5.875%		11,750	409,515.63	
05/01/55	400,000	5.875%	400,000	11,750		
11/01/55					411,750.00	
Total				$	5,860,000	$	6,472,011	$  12,332,011	

$	-	

Gardens at Hammock Beach CDD Summary Assessment Chart

Assessment	Product		Debt	Debt		
Area	Type	Units	O&M	Series 2024-1 Series 2024-2	Total	

1	
SF - Assessment Area 1	
335	
$	940	$	1,750	$	-	
$	2,690	
2	SF - Assessment Area 2		$	-	$	5,309	$	5,309	

Per unit amounts include 4% for early payment discount and 2% for tax collector

Section VIII

RESOLUTION 2026-02
A RESOLUTION OF THE BOARD OF SUPERVISORS OF GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT DESIGNATING AN ASSISTANT TREASURER OF THE DISTRICT AND PROVIDING FOR AN EFFECTIVE DATE

Whereas, Gardens at Hammock Beach Community Development District (hereinafter the “District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated within Flagler County, Florida; and
Whereas, the Board of Supervisors of the District desires to appoint an Assistant Treasurer.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1.  Alison Mossing is appointed Assistant Treasurer.
SECTION 2.  This Resolution shall become effective immediately upon its adoption.
Passed and adopted this 15th day of MAY, 2026.

ATTEST:	GARDENS AT HAMMOCK BEACH COMMUNITY	DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

Section IX

Landscape Maintenance Proposal

Property Name: Gardens at Hammock Beach CDD	
Company Name: GMS	

Contact Name:	Rich Gray	
E-mail:  rgray@	rmsnf.com	

Services: New Areas (2A-11/2B 1-4/2C-1)	Frequency	Amount

Full Service Maintenance (Areas 2A-11/2B 2-4):
Mowing Services	
Full Service Maintenance (Areas 2B-1/ 2C-1)Front of Lots: Mowing Services	

30	
30	

$32,400.00	
$8,290.00	

MONTHLY INVESTMENT	$3,390.83

ANNUAL INVESTMENT	$40,690.00

Section X

1

Veranda Bay
Gardens at Hammock Beach/Veranda Bay C/O SunBelt Land Management

Contact: Ken Belshe Address: P.O. Box 353460
City/State/Zip: Palm Coast, FL 32135-3460 Phone: 386-986-2411
Email: dferguson@sunbeltlandmgmt.com
This agreement, made by and between Lake Pros, LLC (“Contractor”) and, SunBelt Land Management (“Owner”)
-Lake Maintenance Agreement-

Monthly Lake Maintenance service for six (6) stormwater retention ponds and one (1) dry detention basin. A minimum of twelve (12) service visits per year
Algae and Aquatic Weed Control
Border Grass and Brush Control
Water testing (pH and Dissolved Oxygen)
Underwater and Floating Vegetation Control
Casual Debris and Trash Removal
Treatment and Inspection Reporting
Stormwater Structure Inspections & Grate Cleaning
Bottom of wet/dry detention areas are to be maintained with herbicide only when they are too wet to be mowed by landscaping contractor in order to prevent unnecessary erosion

Monthly Lake Maintenance: $720.00 per month Annual Investment: $8,640.00 per year

2

AGREEEMENT BETWEEN OWNER & CONTRACTOR

3
AGREEEMENT BETWEEN OWNER & CONTRACTOR

Terms and Conditions:

LAKE PROS monthly treatments include EPA certified herbicides applications, beneficial bacteria, casual debris clean up, and structure monitoring. Services outside of the maintenance scope will be subject to a one-time fee that is agreed upon by the CUSTOMER in writing.

Debris clean-up is limited to casual debris: such as cups, cans, bags, and other non-natural materials along the shoreline. Debris Clean-up service does NOT include extensive debris and trash cleanup in the event of a major storm event. (Example: Hurricane). Does NOT include construction debris, tires, shopping carts, and other large, discarded debris.

This agreement shall automatically renew for its original term on the anniversary starting date of this contract. The monthly service amount may be adjusted, as agreed upon by both Parties, and set forth in writing.

Invoices submitted for work completed shall be paid within 30 days of receipt. If payment has not been received within 30 days, invoices will accrue an interest at 2% per month. After two consecutive months without receiving payment, the account will be put on hold.

CUSTOMER understands that the annual investment amount has been spread out over a twelve-month period. If the CUSTOMER puts the account on hold, or LAKE PROS puts the account on hold due to lack of payment, an additional start-up fee may be required.

LAKE PROS will maintain insurance coverage, which includes General Liability Property Damage, Automobile Liability, and Workman's Compensation at its own expense.

The Customer agrees to inform LAKE PROS in writing if any lake or pond areas have been, or are scheduled, to be mitigated (planted with required or beneficial aquatic vegetation). Emergent weed control may not be performed within mitigated areas, new or existing, unless specifically stated by separate contract or modification of the agreement.

If at any time during the agreement, the customer is not satisfied with LAKE PROS service, the customer can cancel the agreement with a 30-day written notice.

Federal and State regulations require that various water time-use restrictions be observed during and following some treatments. LAKE PROS will notify the customer of such restriction. It shall be the customer’s responsibility to observe the restrictions throughout the required period. The customer understands and agrees that, notwithstanding any other provision of the agreement, LAKE PROS does not assume any liability for failure by any party to be notified of, or to observe. The above regulations.

LAKE PROS shall not be responsible for acts beyond our control. These include, but aren’t limited to, adverse weather conditions, Acts of God, Strikes, government regulations or order, acts of vandalism, theft or third-party actions.
The customer warrants that he or she is authorized to execute the water management agreement on behalf of the riparian owner and to hold LAKE PROS harmless for consequences of such service not arising out of the sole negligence of LAKE PROS.

LAKE PROS agrees to hold the customer harmless from any loss, damage, or claims arising out of the sole negligence of LAKE PROS. However, LAKE PROS shall in no event be liable to the customer or others indirect, special or consequential damages resulting from any cause whatsoever.

Water use restrictions ensuing treatment are rarely required. If required, LAKE PROS will notify the customer in writing. LAKE PROS will not be held responsible if customer fails to follow water use restrictions.

Customer Acceptance:

“OWNER”	“CONTRACTOR”
Lake Pros, LLC

Signature:	 	Signature:	 Print:	 		Print: Patrick “Sandy” Teaf	 Date:			Date: 04/29/2026	

Section XI

February 24, 2026 Board of Supervisors
Gardens at Hammock Beach Community Development District 219 East Livingston Street
Orlando, FL 32801

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

We are pleased to confirm our understanding of the services we are to provide Gardens at Hammock Beach Community Development District, Flagler County, Florida (“the District”) for the fiscal year ended September 30, 2025. We will audit the financial statements of the governmental activities and each major fund, including the related notes to the financial statements, which collectively comprise the basic financial statements of Gardens at Hammock Beach Community Development District as of and for the fiscal year ended September 30, 2025. In addition, we will examine the District’s compliance with the requirements of Section 218.415 Florida Statutes. This letter serves to renew our agreement and establish the terms and fee for the 2025 audit.
Accounting principles generally accepted in the United States of America provide for certain required supplementary information (RSI), such as management’s discussion and analysis (MD&A), to supplement the District’s 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. As part of our engagement, we will apply certain limited procedures to the District’s RSI in accordance with auditing standards generally accepted in the United States of America. These limited procedures will consist of inquiries of management regarding 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 will 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.
The following RSI is required by generally accepted accounting principles and will be subjected to certain limited procedures, but will not be audited:
Management’s Discussion and Analysis
Budgetary comparison schedule
The following other information accompanying the financial statements will not be subjected to the auditing procedures applied in our audit of the financial statements, and our auditor’s report will not provide an opinion or any assurance on that information:
Compliance with FL Statute 218.39 (3) (c)
Audit Objectives
The objective of our audit is the expression of opinions as to whether your financial statements are fairly presented, in all material respects, in conformity with U.S. generally accepted accounting principles and to report on the fairness of the supplementary information referred to in the second paragraph when considered in relation to the financial statements as a whole. Our audit will be conducted in accordance with auditing standards generally accepted in the United States of America and the standards for financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, and will include tests of the accounting records of the District and other procedures we consider necessary to enable us to express such opinions. We will issue a written report upon completion of our audit of the District’s financial statements. We cannot provide assurance that an unmodified opinion will be expressed. Circumstances may arise in which it is necessary for us to modify our opinion or add emphasis-of-matter or other-matter paragraphs. If our opinion on the financial statements is other than unmodified, we will discuss the reasons with you in advance. If, for any reason, we are unable to complete the audit or are unable to form or have not formed an opinion, we may decline to express an opinion or issue a report, or may withdraw from this engagement.
We will also provide a report (that does not include an opinion) on internal control related to the financial statements and compliance with the provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a material effect on the financial statements as required by Government Auditing Standards. The report on internal control and on compliance and other matters will include a paragraph that states (1) that the purpose of the report is solely to describe the scope of testing of internal control and compliance, and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control on compliance, and (2) that the report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control and compliance. The paragraph will also state that the report is not suitable for any other purpose. If during our audit we become aware that the District is subject to an audit requirement that is not encompassed in the terms of this engagement, we will communicate to management and those charged with governance that an audit in accordance with U.S. generally accepted auditing standards and the standards for financial audits contained in Government Auditing Standards may not satisfy the relevant legal, regulatory, or contractual requirements.

Gardens at Hammock Beach Community Development District	Page 2

Examination Objective
The objective of our examination is the expression of an opinion as to whether the District is in compliance with Florida Statute 218.415 in accordance with Rule 10.556(10) of the Auditor General of the State of Florida. Our examination will be conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and will include tests of your records and other procedures we consider necessary to enable us to express such an opinion. We will issue a written report upon completion of our examination of the District’s compliance. The report will include a statement that the report is intended solely for the information and use of management, those charged with governance, and the Florida Auditor General, and is not intended to be and should not be used by anyone other than these specified parties. We cannot provide assurance that an unmodified opinion will be expressed. Circumstances may arise in which it is necessary for us to modify our opinion or add emphasis-of-matter or other-matter paragraphs. If our opinion on the District’s compliance is other than unmodified, we will discuss the reasons with you in advance. If, for any reason, we are unable to complete the examination or are unable to form or have not formed an opinion, we may decline to express an opinion or issue a report, or may withdraw from this engagement.
Other Services
We will assist in preparing the financial statements and related notes of the District in conformity with U.S. generally accepted accounting principles based on information provided by you. These nonaudit services do not constitute an audit under Government Auditing Standards and such services will not be conducted in accordance with Government Auditing Standards. The other services are limited to the financial statement services previously defined. We, in our sole professional judgment, reserve the right to refuse to perform any procedure or take any action that could be construed as assuming management responsibilities.
Management Responsibilities
Management is responsible for compliance with Florida Statute 218.415 and will provide us with the information required for the examination. The accuracy and completeness of such information is also management’s responsibility. You agree to assume all management responsibilities relating to the financial statements and related notes and any other nonaudit services we provide. You will be required to acknowledge in the management representation letter our assistance with preparation of the financial statements and related notes and that you have reviewed and approved the financial statements and related notes prior to their issuance and have accepted responsibility for them. In addition, you will be required to make certain representations regarding compliance with Florida Statute 218.415 in the management representation letter. Further, you agree to oversee the nonaudit services by designating an individual, preferably from senior management, who possesses suitable skill, knowledge, or experience; evaluate the adequacy and results of those services; and accept responsibility for them.
Management is responsible for designing, implementing and maintaining effective internal controls, including evaluating and monitoring ongoing activities, to help ensure that appropriate goals and objectives are met; following laws and regulations; and ensuring that management and financial information is reliable and properly reported. Management is also responsible for implementing systems designed to achieve compliance with applicable laws, regulations, contracts, and grant agreements. You are also responsible for the selection and application of accounting principles, for the preparation and fair presentation of the financial statements and all accompanying information in conformity with U.S. generally accepted accounting principles, and for compliance with applicable laws and regulations and the provisions of contracts and grant agreements.
Management is also responsible for making all financial records and related information available to us and for the accuracy and completeness of that information. You are also responsible for providing us with (1) access to all information of which you are aware that is relevant to the preparation and fair presentation of the financial statements, (2) additional information that we may request for the purpose of the audit, and (3) unrestricted access to persons within the government from whom we determine it necessary to obtain audit evidence.
Your responsibilities include adjusting the financial statements to correct material misstatements and for confirming to us in the written representation letter that the effects of any uncorrected misstatements aggregated by us during the current engagement and pertaining to the latest period presented are immaterial, both individually and in the aggregate, to the financial statements taken as a whole.
You are responsible for the design and implementation of programs and controls to prevent and detect fraud, and for informing us about all known or suspected fraud affecting the government involving (1) management, (2) employees who have significant roles in internal control, and (3) others where the fraud could have a material effect on the financial statements. Your responsibilities include informing us of your knowledge of any allegations of fraud or suspected fraud affecting the government received in communications from employees, former employees, grantors, regulators, or others. In addition, you are responsible for identifying and ensuring that the government complies with applicable laws, regulations, contracts, agreements, and grants and for taking timely and appropriate steps to remedy fraud and noncompliance with provisions of laws, regulations, contracts or grant agreements, or abuse that we report.
Management is responsible for establishing and maintaining a process for tracking the status of audit findings and recommendations. Management is also responsible for identifying and providing report copies of previous financial audits, attestation engagements, performance audits or other studies related to the objectives discussed in the Audit Objectives section of this letter. This responsibility includes relaying to us corrective actions taken to address significant findings and recommendations resulting from those audits, attestation engagements, performance audits, or other studies. You are also responsible for providing management’s views on our current findings, conclusions, and recommendations, as well as your planned corrective actions, for the report, and for the timing and format for providing that information.
With regard to the electronic dissemination of audited financial statements, including financial statements published electronically on your website, you understand that electronic sites are a means to distribute information and, therefore, we are not required to read the information contained in these sites or to consider the consistency of other information in the electronic site with the original document.

Gardens at Hammock Beach Community Development District	Page 3

Audit Procedures—General
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; therefore, our audit will involve judgment about the number of transactions to be examined and the areas to be tested. 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 will plan and perform the audit to obtain reasonable rather than absolute assurance about whether the financial statements are free of material misstatement, whether from (1) errors, (2) fraudulent financial reporting, (3) misappropriation of assets, or (4) violations of laws or governmental regulations that are attributable to the government or to acts by management or employees acting on behalf of the government. Because the determination of abuse is subjective, Government Auditing Standards do not expect auditors to provide reasonable assurance of detecting abuse.
Because of the inherent limitations of an audit, combined with the inherent limitations of internal control, and because we will not perform a detailed examination of all transactions, there is a risk that material misstatements may exist and not be detected by us, even though the audit is properly planned and performed in accordance with U.S. generally accepted auditing standards and Government Auditing Standards. In addition, an audit is not designed to detect immaterial misstatements or violations of laws or governmental regulations that do not have a direct and material effect on the financial statements. Our responsibility as auditors is limited to the period covered by our audit and does not extend to later periods for which we are not engaged as auditors.
Our procedures will include tests of documentary evidence supporting the transactions recorded in the accounts, and may include tests of the physical existence of inventories, and direct confirmation of receivables and certain other assets and liabilities by correspondence with selected individuals, funding sources, creditors, and financial institutions. We will request written representations from your attorneys as part of the engagement, and they may bill you for responding to this inquiry. At the conclusion of our audit, we will require certain written representations from you about your responsibilities for the financial statements; compliance with laws, regulations, contracts, and grant agreements; and other responsibilities required by generally accepted auditing standards.
Audit Procedures—Internal Control
Our audit will include obtaining an understanding of the government and its environment, including internal control, sufficient to assess the risks of material misstatement of the financial statements and to design the nature, timing, and extent of further audit procedures. Tests of controls may be performed to test the effectiveness of certain controls that we consider relevant to preventing and detecting errors and fraud that are material to the financial statements and to preventing and detecting misstatements resulting from illegal acts and other noncompliance matters that have a direct and material effect on the financial statements. Our tests, if performed, will be less in scope than would be necessary to render an opinion on internal control and, accordingly, no opinion will be expressed in our report on internal control issued pursuant to Government Auditing Standards.
An audit is not designed to provide assurance on internal control or to identify significant deficiencies or material weaknesses. However, during the audit, we will communicate to management and those charged with governance internal control related matters that are required to be communicated under AICPA professional standards and Government Auditing Standards.
Audit Procedures—Compliance
As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we will perform tests of the District’s compliance with the provisions of applicable laws, regulations, contracts, agreements, and grants. However, the objective of our audit will not be to provide an opinion on overall compliance and we will not express such an opinion in our report on compliance issued pursuant to Government Auditing Standards.
Engagement Administration, Fees, and Other
We understand that your employees will prepare all cash or other confirmations we request and will locate any documents selected by us for testing.
The audit documentation for this engagement is the property of Grau & Associates and constitutes confidential information. However, subject to applicable laws and regulations, audit documentation and appropriate individuals will be made available upon request and in a timely manner to a cognizant or oversight agency or its designee, a federal agency providing direct or indirect funding, or the U.S. Government Accountability Office for purposes of a quality review of the audit, to resolve audit findings, or to carry out oversight responsibilities. We will notify you of any such request. If requested, access to such audit documentation will be provided under the supervision of Grau & Associates personnel. Furthermore, upon request, we may provide copies of selected audit documentation to the aforementioned parties. These parties may intend, or decide, to distribute the copies or information contained therein to others, including other governmental agencies. Notwithstanding the foregoing, the parties acknowledge that various documents reviewed or produced during the conduct of the audit may be public records under Florida law. The District agrees to notify Grau & Associates of any public record request it receives that involves audit documentation.

Furthermore, Grau & Associates agrees to comply with all applicable provisions of Florida law in handling such records, including but not limited to Section 119.0701, Florida Statutes. Auditor acknowledges that the designated public records custodian for the District is the District Manager (“Public Records Custodian”). Among other requirements and to the extent applicable by law, Grau & Associates shall 1) keep and maintain public records required by the District to perform the service; 2) upon request by the Public Records Custodian, provide the District with the requested public records or allow the records to be inspected or copied within a reasonable time period at a cost that does not exceed the cost provided in Chapter 119, Florida Statutes; 3) ensure that public records which are exempt or confidential, and exempt from public records disclosure requirements, are not disclosed except as authorized by law for the duration of the contract term and following the contract term if Auditor does not transfer the records to the Public Records Custodian of the District; and 4) upon completion of the contract, transfer to the District, at no cost, all public records in Grau & Associate’s possession or, alternatively, keep, maintain and meet all applicable requirements for retaining public records pursuant to Florida laws. When such public records are transferred by Grau & Associates, Grau & Associates shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. All records stored electronically must be provided to the District in a format that is compatible with Microsoft Word or Adobe PDF formats.

Gardens at Hammock Beach Community Development District	Page 4

IF GRAU & ASSOCIATES HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO ITS DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS AGREEMENT, CONTACT THE PUBLIC RECORDS CUSTODIAN AT: C/O GOVERNMENTAL MANAGEMENT SERVICES – CENTRAL FLORIDA LLC, 219 EAST LIVINGSTON STREET ORLANDO, FLORIDA 32801, OR RECORDREQUEST@GMSCFL.COM, PH: (407) 841-5524.
Our fee for these services will not exceed $5,100 for the September 30, 2025 audit, unless there is a change in activity by the District which results in additional audit work or if additional Bonds are issued. This agreement is automatically renewed each year thereafter subject to the mutual agreement by both parties to all terms and fees. The fee for each annual renewal will be agreed upon separately.

We will complete the audit within prescribed statutory deadlines, which requires the District to submit its annual audit to the Auditor General no later than nine (9) months after the end of the audited fiscal year, with the understanding that your employees will provide information needed to perform the audit on a timely basis.

The audit documentation for this engagement will be retained for a minimum of five years after the report release date. If we are aware that a federal awarding agency or auditee is contesting an audit finding, we will contact the party(ies) contesting the audit finding for guidance prior to destroying the audit documentation.

Our invoices for these fees will be rendered each month as work progresses and are payable on presentation. Invoices will be submitted in sufficient detail to demonstrate compliance with the terms of this agreement. In accordance with our firm policies, work may be suspended if your account becomes 60 days or more overdue and may not be resumed until your account is paid in full. If we elect to terminate our services for nonpayment, our engagement will be deemed to have been completed upon written notification of termination, even if we have not completed our report. You will be obligated to compensate us for all time expended and to reimburse us for all out-of-pocket costs through the date of termination. The above fee is based on anticipated cooperation from your personnel and the assumption that unexpected circumstances will not be encountered during the audit. If significant additional time is necessary, we will discuss it with you and arrive at a new fee estimate.

The District has the option to terminate this agreement with or without cause by providing thirty (30) days written notice of termination to Grau & Associates. Upon any termination of this agreement, Grau & Associates shall be entitled to payment of all work and/or services rendered up until the effective termination of this agreement, subject to whatever claims or off-sets the District may have against Grau & Associates.
We will provide you with a copy of our most recent external peer review report and any letter of comment, and any subsequent peer review reports and letters of comment received during the period of the contract. Our 2025 peer review report accompanies this letter.

We appreciate the opportunity to be of service to Gardens at Hammock Beach Community Development District and believe this letter accurately summarizes the terms of our engagement and, with any addendum, if applicable, is the complete and exclusive statement of the agreement between Grau & Associates and the District with respect to the terms of the engagement between the parties. If you have any questions, please let us know. If you agree with the terms of our engagement as described in this letter, please sign the enclosed copy and return it to us.
Very truly yours, Grau & Associates

Antonio J. Grau

RESPONSE:

This letter correctly sets forth the understanding of Gardens at Hammock Beach Community Development District.

By: 		
Title:	District Manager	

Date:	2/24/26	

Gardens at Hammock Beach Community Development District	Page 5

FlCPA

•

-�	AICPA'.

Peer Review Program
Florida Institute of Certified Public Accountants
Administered in Florida
by the Florida Institute of CPAs

November 18, 2025 Antonio Grau
Grau & Associates
1001 W. Yamato Road, Suite 301 Boca Raton, FL 33431-4403

Dear Antonio Grau:

It is my pleasure to notify you that on November 18, 2025, the Florida Peer Review Committee accepted the report on the most recent System Review of your firm. The due date for your next review is December 31, 2028. This is the date by which all review documents should be completed and submitted to the administering entity.

As you know, the report had a peer review rating of pass. The Committee asked me to convey its congratulations to the firm.

Thank you for your cooperation. Sincerely,

Peer Review Team
FICPA Peer Review Committee paul@ficpa.org
850.224.2727, x5957

cc: Daniel Hevia, David Caplivski

Firm Number: 900004390114	Review Number:  616829

119 S Monroe Street, Suite 121 I Tallahassee, FL 32301I 850.224.2727, in Florida I www.ficpa.org

Section XII

Part 4: Signatures and Authorization to Access Property
Instructions: For multiple applicants please provide a separate Part 4 for each applicant. For corporations, the application must be signed by a person authorized to bind the corporation. A person who has sufficient real property interest (see Section 4.2.3(d) of Applicant's Handbook Volume I) is required in (B) to authorize access to the property, except when the applicant has the power of eminent domain.

By signing this application form, I am applying for the permit and any proprietary authorizations identified above, according to the supporting data and other incidental information filed with this application. I am familiar with the information contained in this application and represent that such information is true, complete and accurate. I understand this is an application and not a permit, and that work prior to approval is a violation. I understand that this application and any permit issued or proprietary authorization issued pursuant thereto does not relieve me of any obligation for obtaining any other required federal, state, water management district, or local permit prior to commencement of construction. I agree to operate and maintain the pennitted system unless the permitting agency authorizes transfer of the permit to a different responsible operation and maintenance entity. I understand that knowingly making any false statement or representation in this application is a violation of Section 373.430, F.S. and 18 U.S.C. Section 1001.

Kenneth W. Belshe			

Typed/Printed Name of Applicant or Applicant's Authorized Agent

Signature of Applicant or Applicant's Authorized Agent

Vice Chairman of Gardens at Hammock Beach Community Development District
(Corporate Title if applicable)

Certification of Sufficient Real Property Interest And Authorization For Staff To Access The Property: I certify that:
[8] I possess sufficient real property interest in or control, as defined in Section 4.2.3 (d) of Applicant's
Handbook Volume I, over the land upon which the activities described in this application are proposed and I have legal authority to grant permission to access those lands. I hereby grant permission, evidenced by my signature below, for staff of the Agency to access, inspect, and sample the lands and waters of the property as necessary for the review of the proposed works and other activities specified in this application, upon advance notice. I authorize these agents or personnel to enter the property as many times as may be necessary to make such review, inspection, and/ or sampling. Further, if a permit is granted, upon advance notice, I agree to provide entry to the project site for such agents or personnel with proper identification to determine compliance with permit conditions and permitted plans and specifications.
OR

0 I represent an entity having the power of eminent domain and condemnation authority, and I/we shall make appropriate arrangements to enable staff of the Agency to legally access, inspect, and sample the property as described above.

Kenneth W. Belshe			
Typed/Printed Name	Signature

Vice Chairman of Gardens at Hammock Beach Community Development District
(Corporate Title if applicable)

Designation of Authorized Agent (If Applicable):
I hereby designate and authorize Parker Mynchenberg & Associates, Inc. to act on my behalf, or on behalf of my corporation, as the agent in the processing of this application for the permit and/or proprietary authorization indicated above and to furnish, on request, supplemental information in support of the application. In addition, I authorize the above-listed agent to bind me, or my corporation, to perform any requirements which may be necessary to procure the permit or authorization indicated above. I understand that knowingly making any false statement or representation in this application is a violation of Section 373.430, F.S.� and 18 U.S.C. Section 1001.

Kenneth W. Belshe	
Typed/Printed Name of Applicant

�,)::;..	�½:	
Signature of Applicant	D e

Vice Chairman of Gardens at Hammock Beach Community Development District
(Corporate Title if applicable)

Section XIII

LETTER OF AUTHORIZATION

Re:	The Gardens

To Whom It May Concern:

By copy of this letter, I, Kenneth W. Belshe, Vice Chairman of Gardens at Hammock Beach Community Development District, hereby authorize Parker Mynchenberg & Associates, Inc. to act on my behalf with regard to obtaining agency approvals, including, but not limited to:
City and County Plat, Site Plan, Rezoning, and PD Submittals (if applicable)
FDEP Water, Wastewater, and ERP Permit Applications (if applicable)
St Johns River Water Management District Permit Applications (if applicable)
FOOT Driveway, Drainage, and Utility Permit Applications (if applicable)
County Use Permit Applications (if applicable)

If you have any questions, please contact me at 407-841-5524. Yours truly,

Kenneth W. Belshe, Vice Chairman	Date
Gardens at Hammock Beach Community Development District 219 E. Livingston St.
Orlando, FL 32801

STATE OF FLORIDA
COUNTY OF FLAGLER
Before me, the undersigned authority, this day personally appeared Kenneth W. Belshe, well known to me to be Vice Chairman of Gardens at Hammock Beach Community Development District, and he acknowledges executing the foregoing Letter of Authorization under authority duly vested in him by said County as such officer and for the uses and purposes expressed therein.
WITNESS my hand and official seal this /o  day of April, 2026.

Section XIV

Section C

Section 1

Gardens at Hammock Beach	
Community Development District	
Summary of Check Register

October 01, 2025 through April 30, 2026

Fund	Date	Check No.'s	Amount	

General Fund	
10/8/25	
10/21/25	
10/31/25	
11/6/25	
11/26/25	
12/23/25	
1/15/26	
2/20/26	
3/16/26	
3/23/26	
4/16/26	

360-362	
363-365	
366	
367-369	
370	
371-373	
374-378	
379-382	
383-385	
386-387	
388-390	

$	5,674.18	
$	4,440.87	
$	88,965.60	
$	6,541.46	
$	3,945.12	
$	9,649.95	
$	317,294.68	
$	12,219.36	
$	10,862.05	
$	32,667.19	
$	5,658.95	

Total Amount	$ 497,919.41

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	5/04/26	PAGE	1
*** CHECK DATES 10/01/2025 - 04/30/2026 ***	GARDENS AT HAMMOCK BEACH - GF
BANK A GARDENS AT HAMMOCK
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
10/08/25 00018 10/01/25 3568	202510 320-53800-47000	*	325.00
OCT LAKE MAINTENANCE
LAKE PROS LLC	325.00 000360
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/08/25 00019	9/23/25 25-1004	202509 310-51300-31100	*	300.00
ENGINEERING SRVC SEP 25
PARKER MYNCHENBERG	300.00 000361
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/08/25 00021 10/01/25 24586	202510 320-53800-46100	*	5,049.18
OCT LANDSCAPE MAINTENANCE
VERDEGO LANDSCAPE	5,049.18 000362
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/21/25 00010 10/15/25 8794	202509 310-51300-31500	*	417.50
SEPT GENERAL COUNSEL
CHIUMENTO LAW PLLC	417.50 000363

10/21/25	00016	9/30/25	
- - - - - - - - 10/21/25 00003	- - - - 10/01/25	
	10/01/25	
	10/01/25	
	10/01/25	
	10/01/25	
	10/01/25	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
00073526 202509 310-51300-48000	*	23.62
NTC OF MEETINGS FY26
GANNET MEDIA CORP DBA GANNETT	23.62 000364
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
147	202510 310-51300-34000	*	3,433.33
OCT 25 MANAGEMENT FEES
147	202510 310-51300-34200	*	103.00
OCT 25 WEBSITE ADMIN
147	202510 310-51300-35100	*	154.50
OCT 25 INFO TECH
147	202510 310-51300-31300	*	300.42
OCT 25 DISSEM AGENT SRVCS
147	202510 310-51300-51000	*	.33
OFFICE SUPPLIES
147	202510 310-51300-42000	*	8.17
POSTAGE
GOVERNMENTAL MANAGEMENT SERVICES	3,999.75 000365
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/31/25 00027 10/31/25 10312025 202510 300-13100-10000	*	88,965.60
REQ 16 REMAIN BAL
JD WEBER CONSTRUCTION COMPANY	88,965.60 000366
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/06/25 00025 10/23/25 3	202510 310-51300-31300	*	500.00
SERIES 2024 AMORT SCH
DISCLOSURE SERVICES LLC	500.00 000367
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/06/25 00018 11/01/25 3739	202511 320-53800-47000	*	325.00
NOV LAKE MAINTENANCE
LAKE PROS LLC	325.00 000368
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
HGB	GARDENS HAMMOC SRICE

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	5/04/26	PAGE	2
*** CHECK DATES 10/01/2025 - 04/30/2026 ***	GARDENS AT HAMMOCK BEACH - GF
BANK A GARDENS AT HAMMOCK
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
11/06/25 00021 10/31/25 24984	202510 320-53800-46300	*	207.78
OCT IRRIGATION REPAIRS
10/31/25 24985	202510 320-53800-46300	*	68.93
OCT IRRIGATION INSPECTION
10/31/25 24986	202510 320-53800-46300	*	239.09
OCT IRRIGATION REPAIRS
11/03/25 25139	202511 320-53800-46100	*	5,200.66

VERDEGO	LANDSCAPE	5,716.46	000369	
- - - - - - - -	- - - - - - - -	- - - -	- - - - - - - - - - - - - - - -	-	-	-	-	-	-	-	-	-	-	- -	-	-	-	-	-	- - - - -	- - - - -	- - -	
11/26/25 00003 11/01/25 148	202511 310-51300-34000	*	3,433.33	
NOV25	MANAGEMENT FEES	
11/01/25 148	202511 310-51300-34200	*	103.00	
NOV25	WEBSITE ADMIN	
11/01/25 148	202511 310-51300-35100	*	104.50	
NOV25	INFO TECH	
11/01/25 148	202511 310-51300-31300	*	300.42	
NOV25	DISSEM AGENT SRVCS	

NOV LANDSCAPE MAINTENANCE

11/01/25	148	202511 310-51300-51000	*	.15	
11/01/25	148	202511 310-51300-42000	*	3.72	

OFFICE SUPPLIES POSTAGE

GOVERNMENTAL MANAGEMENT SERVICES	3,945.12 000370

12/23/25 00003	12/01/25	
	12/01/25	
	12/01/25	
	12/01/25	
	12/01/25	
	12/01/25	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
149	202512 310-51300-34000	*	3,433.33
DEC25 MANAGEMENT FEES
149	202512 310-51300-34200	*	103.00
DEC25 WEBSITE ADMIN
149	202512 310-51300-35100	*	154.50
DEC25 INFO TECH
149	202512 310-51300-31300	*	300.42
DEC25 DISSEM AGENT SRVCS
149	202512 310-51300-51000	*	.09
OFFICE SUPPLIES
149	202512 310-51300-42000	*	20.28
POSTAGE
GOVERNMENTAL MANAGEMENT SERVICES	4,011.62 000371
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/23/25 00018 12/02/25 3895	202512 320-53800-47000	*	325.00
DEC LAKE MAINTENANCE
LAKE PROS LLC	325.00 000372
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/23/25 00021 11/28/25 25499	202511 320-53800-46300	*	112.67
NOV IRRIGATION INSPECTION
12/01/25 25626	202512 320-53800-46100	*	5,200.66
DEC LANDSCAPE MAINTENANCE
VERDEGO LANDSCAPE	5,313.33 000373
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
HGB	GARDENS HAMMOC SRICE

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	5/04/26	PAGE	3
*** CHECK DATES 10/01/2025 - 04/30/2026 ***	GARDENS AT HAMMOCK BEACH - GF
BANK A GARDENS AT HAMMOCK
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
1/15/26 00024 12/22/25 12222025 202601 300-20700-10300	*	32,581.18
11.17 FY26 ASSESSMENTS
12/22/25 12222025 202601 300-20700-10300	*	32,054.00
11.26 FY26 ASSESSMENTS
12/22/25 12222025 202601 300-20700-10300	*	125,533.05
12.15 FY26 ASSESSMENTS
12/22/25 12222025 202601 300-20700-10300	*	3,134.31

GARDENS	AT	HAMMOCK	BEACH	CDD	193,302.54	000374	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - -	- - - -	- - -	- -	-	-	-	-	-	- -	-	-	-	-	- - - - - - - - - - -	- - -	
1/15/26 00028 12/22/25 12222025 202601 300-20700-10300	*	19,238.41	
11.17 FY26 ASSESSMENTS	
12/22/25 12222025 202601 300-20700-10300	*	18,927.12	
11.26 FY26 ASSESSMENTS	
12/22/25 12222025 202601 300-20700-10300	*	74,124.28	
12.15 FY26 ASSESSMENTS	
12/22/25 12222025 202601 300-20700-10300	*	1,850.74	
12.22 FY26 ASSESSMENTS	
GARDENS	AT	HAMMOCK	BEACH	CDD	114,140.55	000375	
- - - - - - - -	- - - - - - - -	- - - - - - - - - - - - - - - -	- - - -	- - -	- -	-	-	-	-	-	- -	-	-	-	-	-	- - - - - - - - - -	- - -	
150	202601 310-51300-34000	*	3,433.33	
JAN26	MANAGEMENT FEES	
150	202601 310-51300-34200	*	103.00	
JAN26	WEBSITE ADMIN	
150	202601 310-51300-35100	*	154.50	
JAN26	INFO TECH	
150	202601 310-51300-31300	*	300.42	
JAN26	DISSEM AGENT SRVCS	
150	202601 310-51300-51000	*	53.41	
GOVERNMENTAL	MANAGEMENT SERVICES	4,044.66	000376	
- - - - - - - -	- - - - -	- - - -	- - - - - - - - - - - - - - - -	- - - - - - - - - -	-	-	-	- -	-	-	-	-	-	-	- - - -	- - - - -	- - -	
1/15/26 00018	1/05/26	4056	202601 320-53800-47000	*	325.00	

12.22 FY26 ASSESSMENTS

1/15/26 00003	1/01/26	
	1/01/26	
	1/01/26	
	1/01/26	
	1/01/26	
POSTAGE

JAN LAKE MAINTENANCE

LAKE PROS LLC	325.00 000377

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/15/26 00021 12/31/25 26265	202512 320-53800-46300	*	281.27
DEC IRRIGATION REPAIR
1/02/26 26170	202601 320-53800-46100	*	5,200.66
JAN LANDSCAPE MAINTENANCE
VERDEGO LANDSCAPE	5,481.93 000378
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
2/20/26 00025	1/26/26 4	202601 310-51300-31300	*	100.00
SERIES 2024 AMORT SCH
DISCLOSURE SERVICES LLC	100.00 000379
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
HGB	GARDENS HAMMOC SRICE

CHECK REGISTER	RUN	5/04/26	PAGE	

STATUS		
AMOUNT	....CHECK....
AMOUNT	#	
*	3,433.33			
*	103.00			
*	154.50			
*	300.42			
*	.06			

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER	4
*** CHECK DATES 10/01/2025 - 04/30/2026 ***	GARDENS AT HAMMOCK BEACH - GF
BANK A GARDENS AT HAMMOCK
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	. DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS

2/20/26 00003	2/01/26	
	2/01/26	
	2/01/26	
	2/01/26	
	2/01/26	
	2/01/26	
	2/01/26	
	2/01/26	

151	202602 310-51300-34000
FEB26 MANAGEMENT FEES
151	202602 310-51300-34200
FEB26 WEBSITE ADMIN
151	202602 310-51300-35100
FEB26 INFO TECH
151	202602 310-51300-31300
FEB26 DISSEM AGENT SRVCS
151	202602 310-51300-51000

202602 310-51300-42000	*	1.49	
202602 320-53800-34100	*	1,250.00	

OFFICE SUPPLIES 151
POSTAGE 152
FIELD MANAGEMENT FEB26
152	202602 320-53800-34100	*	1,250.00
FIELD MANAGEMENT JAN26
GOVERNMENTAL MANAGEMENT SERVICES	6,492.80 000380
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
2/20/26 00018	2/02/26 4224	202602 320-53800-47000	*	325.00
LAKE MAINTENANCE FEB26
LAKE PROS LLC	325.00 000381
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
2/20/26 00021	1/31/26 26771	202601 320-53800-46300	*	100.90
IRRIGATION REPAIRS
2/02/26 26652	202602 320-53800-46100	*	5,200.66

VERDEGO LANDSCAPE	5,301.56	000382	
- - - - - - - -	- - - - - - - -	- - - - - - - - - - - - - - - - - - - -	-	-	-	-	-	-	-	-	-	-	- -	-	-	-	-	-	- - - - -	- - - - -	- - -	
3/16/26 00003	3/01/26 153
MAR26	202603 310-51300-34000	*	3,433.33	
3/01/26 153	202603 310-51300-34200	*	103.00	
MAR26	WEBSITE ADMIN	
3/01/26 153	202603 310-51300-35100	*	154.50	
MAR26	INFO TECH	
3/01/26 153	202603 310-51300-31300	*	300.42	
MAR26	DISSEM AGENT SRVCS	
3/01/26 153	202603 310-51300-51000	*	.09	

FEB LANDSCAPE MAINTENANCE

		

		

MANAGEMENT FEES

OFFICE SUPPLIES
3/01/26 153	202603 310-51300-42000	*	2.23
POSTAGE
3/01/26 154	202603 320-53800-34100	*	1,250.00
MAR26 FIELD MANAGEMENT
GOVERNMENTAL MANAGEMENT SERVICES	5,243.57 000383
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/16/26 00018	3/01/26 4392	202603 320-53800-47000	*	325.00
MAR26 LAKE MAINTENANCE
LAKE PROS LLC	325.00 000384
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
HGB	GARDENS HAMMOC SRICE

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	5/04/26	PAGE	5
*** CHECK DATES 10/01/2025 - 04/30/2026 ***	GARDENS AT HAMMOCK BEACH - GF
BANK A GARDENS AT HAMMOCK
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
3/16/26 00021	2/28/26 27318	202602 320-53800-46300	*	92.82
FEB IRRIGATION INSPECTION
3/02/26 27166	202603 320-53800-46100	*	5,200.66
MAR LANDSCAPE MAINTENANCE
VERDEGO LANDSCAPE	5,293.48 000385
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/23/26 00024	3/03/26 03032026 202603 300-20700-10300	*	17,879.62
01.28 FY26 ASSESSMENTS
3/03/26 03032026 202603 300-20700-10300	*	2,659.63
03.03 FY26 ASSESSMENTS
GARDENS AT HAMMOCK BEACH CDD	20,539.25 000386
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/23/26 00028	3/03/26 03032026 202603 300-20700-10300	*	10,557.49
01.28 FY26 ASSESSMENTS
3/03/26 03032026 202603 300-20700-10300	*	1,570.45
03.03 FY26 ASSESSMENTS
GARDENS AT HAMMOCK BEACH CDD	12,127.94 000387

4/16/26 00003	4/01/26	
	4/01/26	
	4/01/26	
	4/01/26	
	4/01/26	
	4/01/26	
	4/01/26	
	4/01/26	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
155	202604 310-51300-34000	*	3,433.33
APR26 MANAGENET FEES
155	202604 310-51300-34200	*	103.00
APR26 WEBSITE ADMIN
155	202604 310-51300-35100	*	154.50
APR26 INFO TECH
155	202604 310-51300-31300	*	300.42
APR26 DISSEM AGENT SRVCS
155	202604 310-51300-51000	*	.06

202604 310-51300-42000	*	1.49	
202604 310-51300-42500	*	1.05	
202604 320-53800-34100	*	1,250.00	

OFFICE SUPPLIES 155
POSTAGE 155
COPIES 156
APR26 FIELD MANAGEMENT
GOVERNMENTAL MANAGEMENT SERVICES	5,243.85 000388
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/16/26 00018	4/01/26 4569	202604 320-53800-47000	*	325.00
APRIL26 LAKE MAINTENANCE
LAKE PROS LLC	325.00 000389
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/16/26 00021	3/31/26 27772	202603 320-53800-46300	*	90.10
IRRIGATION REPAIRS
VERDEGO LANDSCAPE	90.10 000390
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK A	497,919.41 HGB	GARDENS HAMMOC SRICE

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	5/04/26	PAGE	6
*** CHECK DATES 10/01/2025 - 04/30/2026 ***	GARDENS AT HAMMOCK BEACH - GF
BANK A GARDENS AT HAMMOCK
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#

TOTAL FOR REGISTER	497,919.41

HGB	GARDENS HAMMOC SRICE

Section 2

Gardens at Hammock Beach
Community Development District

Unaudited Financial Reporting
April 30, 2026

Table of Contents

	Balance Sheet

	General Fund

	Debt Service Series 2024

	Capital Projects Fund

	Month to Month

	Long Term Debt

	Assessments Receipts Schedule 

Gardens at Hammock Beach
Community Development District Combined Balance Sheet
April 30, 2026

	General	Debt
Fund	Service 2024		Capital Project Funds	
Assets:				
Cash:				
Operating Account	$	179,412	$	-	$	-	
Due from GF	$	-	$	10,227	$	-	
Due From Developer	$	-	$	-	$	-	
Due From Capital	$	-	$	-	$	-	
Prepaid Expenses	$	11,173	$	-	$	-	
Investments:				
Series 2024-01 AA1				
Reserve	$	-	$	345,260	$	-	
Revenue	$	-	$	233,406	$	-	
Capital Interest	$	-	$	-	$	-	
Prepayment	$	-	$	586	$	-	
Acquisition & Construction	$	-	$	-	$	45,345	
Cost of Issuance	$	-	$	-	$	-	
Series 2024-02 AA2				
Reserve	$	-	$	413,578	$	-	
Revenue	$	-	$	262,304	$	-	
Capital Interest	$	-	$	-	
Prepayment	$	-	$	1,079			
Acquisition & Construction	$	-	$	-	$	10,436	
Cost of Issuance	$	-	$	-	$	-	
Total Assets	$	190,586	$	1,266,439	$	55,781	
Liabilities:			
Accounts Payable	$	5,100	$	-	$	-	
Due to Developer	$	-	$	-	$	-	
Due to Other	$	72	$	-	$	-	
Due to DS	$	10,227	$	-	$	-	
FICA Payable	$	(92)	$	-	$	-	
Total Liabilities	$	15,307	$	-	$	-	

Fund Balances:				
Unassigned	$	175,278	$	1,266,439	$	55,781	
Total Fund Balances	$	175,278	$	1,266,439	$	55,781	
				
Total Liabilities & Fund Balance	$	190,586	$	1,266,439	$	55,781	

Gardens at Hammock Beach
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending April 30, 2026

Adopted	Prorated Budget	Actual	
Budget	Thru 04/30/26	Thru 04/30/26	Variance	

Revenues		
Developer Contributions	$	44,594	$	44,594	$	-	$	(44,594)	
Assessments - Area 1	$	198,340	$	198,340	$	203,122	$	4,782	
Assessments - Area 2 (Direct)	$	116,560	$	-	$	-	$	-	
Miscellaneous Revenue	$	-	$	-	$	1,337	$	1,337	
Total Revenues	$	359,494	$	242,934	$	204,459	$	(38,475)	
Expenditures:					
General & Administrative:					
Supervisor Fees	$	7,200	$	4,200	$	-	$	4,200	
FICA Expense	$	551	$	321	$	-	$	321	
Engineering	$	5,000	$	2,917	$	-	$	2,917	
Attorney	$	10,000	$	5,833	$	-	$	5,833	
Dissemination	$	3,605	$	2,103	$	2,703	$	(600)	
Arbitrage	$	450	$	-	$	-	$	-	
Trustee Fees	$	4,500	$	-	$	-	$	-	
Annual Audit	$	5,000	$	5,100	$	5,100	$	-	
Management Fees	$	41,200	$	24,033	$	24,033	$	0	
Information Technology	$	1,854	$	1,082	$	1,032	$	50	
Website Maintenance	$	1,236	$	721	$	721	$	-	
Telephone	$	100	$	58	$	-	$	58	
Postage	$	750	$	438	$	37	$	400	
Insurance	$	7,268	$	7,268	$	-	$	7,268	
Printing & Binding	$	500	$	292	$	1	$	291	
Legal Advertising	$	5,000	$	2,917	$	-	$	2,917	
Other Current Charges	$	610	$	356	$	309	$	46	
Office Supplies	$	125	$	73	$	54	$	19	
Dues, Licenses & Subscriptions	$	175	$	175	$	175	$	-	
Total General & Administrative	$	95,124	$	57,886	$	34,166	$	23,720	
Operations & Maintenance:					
Field Expenses
Field Management	
$	15,000	
$	8,750	
$	5,000	
$	3,750	
Electricity - Streetlights	$	45,270	$	26,408	$	19,077	$	7,330	
Electricity - Irrigation	$	4,100	$	2,392	$	1,680	$	712	
Water & Sewer	$	30,000	$	17,500	$	-	$	17,500	
Landscape Maintenance	$	130,000	$	75,833	$	31,052	$	44,781	
Landscape Contingency	$	2,000	$	1,167	$	-	$	1,167	
Property Insurance	$	6,000	$	3,500	$	-	$	3,500	
Lake Maintenance	$	15,000	$	8,750	$	2,275	$	6,475	
Stormwater Repairs & Maintenance	$	5,000	$	2,917	$	-	$	2,917	
General Repairs & Maintenance	$	1,000	$	583	$	-	$	583	
Irrigation Repairs	$	5,000	$	2,917	$	1,194	$	1,723	
Sidewalk/Asphalt Repairs	$	5,000	$	2,917	$	-	$	2,917	
Contingency	$	1,000	$	583	$	-	$	583	
Total O&M	$	264,370	$	154,216	$	60,278	$	93,938	
					
Total Expenditures	$	359,494	$	212,102	$	94,443	$	117,658	
					
Excess (Deficiency) of Revenues over Expenditures	$	0		$	110,015		
					
Fund Balance - Beginning	$	-		$	65,263		
					
Fund Balance - Ending	$	0		$	175,278		

Gardens at Hammock Beach
Community Development District Debt Service Fund Series 2024
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending April 30, 2026

Adopted	Prorated Budget	Actual	
Budget	Thru 04/30/26	Thru 04/30/26	Variance	

Revenues:		
Special Assessments - 2024-1(AA1)	$	345,438	$	345,438	$	220,272	$	(125,166)	
Special Assessments - 2024-2(AA2)	$	408,069	$	408,069	$	130,065	$	(278,004)	
Special Assessments - 2024-2(AA2) - Direct	$	210,788	$	105,394	$	105,394	$	-	
Assessments - Prepayment	$	-	$	-	$	-	$	-	
Interest	$	27,500	$	16,042	$	42,615	$	26,574	
Total Revenues	$	991,795	$	874,943	$  498,346.56	$	(376,596)	

Expenditures:		
Interfund Transfer Out	$	-	$	-	$	17,754	$	(17,754)	
Series 2024-1 AA1 Interest Expense 11/1	

$	135,182	$	135,182	$	135,041	$	141	
Principal Expense 5/1	$	75,000	$	-	$	-	$	-	
Interest Expense 5/1	$	135,182	$	-	$	-	$	-	
Series 2024-2 AA2 Interest Expense 11/1	

$	250,418	$	250,418	$	250,418	$	-	
Special Call 11/1	$	-	$	-	$	2,905,000	$	(2,905,000)	
Special Call 2/1	$	-	$	-	$	20,000	$	(20,000)	
Interest Expense 2/1	$	-	$	-	$	287	$	(287)	
Interest Expense 5/1	$	250,418	$	-	$	-	$	-	
Principal Expense 5/1	$	120,000	$	-	$	-	$	-	
Total Expenditures	$	966,200	$	385,600	$	3,328,500	$	(2,942,900)	
		
Excess (Deficiency) of Revenues over Expenditures	$	25,595	$	(2,830,153)	

Other Financing Sources/(Uses):		
Bond Proceeds 2024-01 AA1	$	-	$	-	$	-	$	-	
Bond Proceeds 2024-02 AA2	$	-	$	-	$	-	$	-	
Total Other Financing Sources/(Uses)	$	-	$	-	$	-	$	-	
						
Net Change in Fund Balance	$	25,595		$	(2,830,153)			
						
Fund Balance - Beginning	$	780,942		$	4,096,592			
						
Fund Balance - Ending	$	806,537		$	1,266,439			

Gardens at Hammock Beach
Community Development District Capital Projects Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending April 30, 2026

	Series	Series	
	2024-01 AA1	2024-02 AA2	

Revenues			
Developer Contributions	$	-	$	88,966	
Interest	$	871	$	104	
Transfer In	$	7,422	$	10,332	
Total Revenues	$	8,293	$	99,401	

Expenditures:			
Capital Outlay	$	-	$	88,966	
Capital Outlay - COI	$	-	$	-	
Total Expenditures	$	-	$	88,966	
			
Excess (Deficiency) of Revenues over Expenditures	$	8,293	$	10,436	

Other Financing Sources/(Uses)			
Transfer In/(Out)	$	-	$	-	
Bond Proceeds 2024-01 AA1	$	-	$	-	
Bond Proceeds 2024-02 AA2	$	-	$	-	
Total Other Financing Sources (Uses)	$	-	$	-	
			
Net Change in Fund Balance	$	8,292.90	$	10,436	
			
Fund Balance - Beginning	$	-	$	37,052	
			
Fund Balance - Ending	$	8,293	$	47,488	

Gardens at Hammock Beach
Community Development District Month to Month

	Oct	Nov	Dec		Jan		Feb		Mar	Apr	May		Jun			Jul			Aug		Sep		Total	
Revenues																									
Developer Contributions	$	-  $	-  $	-	$	-	$	-	$	-  $	-  $	-	$		-	$		-	$	-	$	-	$	-	
Assessments - Area 1	$	422  $	1,901  $	58,921	$	117,293	$	16,299	$	2,425  $	5,862  $	-	$		-	$		-	$	-	$	-	$	203,122	
Assessments - Area 2 (Direct)	$	-  $	-  $	-	$	-	$	-	$	-  $	-  $	-	$		-	$		-	$	-	$	-	$	-	
Miscellaneous Revenue	$	-  $	-  $	0	$	363	$	335	$	345  $	293  $	-	$		-	$		-	$	-	$	-	$	1,337	
Total Revenues	$	422  $	1,901  $	58,922	$	117,655	$	16,634	$	2,770  $	6,155  $	-	$		-	$		-	$	-	$	-		$204,459	
Expenditures:																									
General & Administrative:																									
Supervisor Fees	$	-  $	-  $	-	$	-	$	-	$	-  $	-  $	-	$		-	$		-	$	-	$	-	$	-	
FICA Expense	$	-  $	-  $	-	$	-	$	-	$	-  $	-  $	-	$		-	$		-	$	-	$	-	$	-	
Engineering	$	-  $	-  $	-	$	-	$	-	$	-  $	-  $	-	$		-	$		-	$	-	$	-	$	-	
Attorney	$	-  $	-  $	-	$	-	$	-	$	-  $	-  $	-	$		-	$		-	$	-	$	-	$	-	
Dissemination	$	800  $	300  $	300	$	400	$	300	$	300  $	300  $	-	$		-	$		-	$	-	$	-	$	2,703	
Arbitrage	$	-  $	-  $	-	$	-	$	-	$	-  $	-  $	-	$		-	$		-	$	-	$	-	$	-	
Trustee Fees	$	-  $	-  $	-	$	-	$	-	$	-  $	-  $	-	$		-	$		-	$	-	$	-	$	-	
Annual Audit	$	-  $	-  $	-	$	-	$	-	$	-  $	5,100  $	-	$		-	$		-	$	-	$	-	$	5,100	
Management Fees	$	3,433  $	3,433  $	3,433	$	3,433	$	3,433	$	3,433  $	3,433  $	-	$		-	$		-	$	-	$	-	$	24,033	
Information Technology	$	155  $	105  $	155	$	155	$	155	$	155  $	155  $	-	$		-	$		-	$	-	$	-	$	1,032	
Website Maintenance	$	103  $	103  $	103	$	103	$	103	$	103  $	103  $	-	$		-	$		-	$	-	$	-	$	721	
Telephone	$	-  $	-  $	-	$	-	$	-	$	-  $	-  $	-	$		-	$		-	$	-	$	-	$	-	
Postage	$	8  $	4  $	20	$	-	$	1	$	2  $	1  $	-	$		-	$		-	$	-	$	-	$	37	
Insurance	$	-  $	-  $	-	$	-	$	-	$	-  $	-  $	-	$		-	$		-	$	-	$	-	$	-	
Printing & Binding	$	-  $	-  $	-	$	-	$	-	$	-  $	1  $	-	$		-	$		-	$	-	$	-	$	1	
Legal Advertising	$	-  $	-  $	-	$	-	$	-	$	-  $	-  $	-	$		-	$		-	$	-	$	-	$	-	
Other Current Charges	$	44  $	44  $	48	$	43	$	44	$	43  $	44  $	-	$		-	$		-	$	-	$	-	$	309	
Office Supplies	$	0  $	0  $	0	$	53	$	0	$	0  $	0  $	-	$		-	$		-	$	-	$	-	$	54	
Dues, Licenses & Subscriptions	$	-  $	175  $	-	$	-	$	-	$	-  $	-  $	-	$		-	$		-	$	-	$	-	$	175	
Total General & Administrative:	$	4,543  $	4,164  $	4,060	$	4,188	$	4,037	$	4,037  $	9,138  $	-	$		-	$		-	$	-	$	-	$	34,166	

Operations & Maintenance:																									
Field Expenses
Field Management	

$	

-  $	

-  $	

-	

$	

1,250	

$	

1,250	

$	

1,250  $	

1,250  $	

-	

$		

-	

$		

-	

$	

-	

$	

-	

$	

5,000	
Electricity - Irrigation	$	316  $	249  $	250	$	257	$	143	$	210  $	255  $	-	$		-	$		-	$	-	$	-	$	1,680	
Streetlights	$	2,647  $	2,647  $	2,647	$	2,784	$	2,784	$	2,784  $	2,784  $	-	$		-	$		-	$	-	$	-	$	19,077	
Landscape Maintenance	$	5,049  $	5,201  $	5,201	$	5,201	$	5,201	$	5,201  $	-  $	-	$		-	$		-	$	-	$	-	$	31,052	
Landscape Contingency	$	-  $	-  $	-	$	-	$	-	$	-  $	-  $	-	$		-	$		-	$	-	$	-	$	-	
Irrigation Repairs	$	516  $	113  $	281	$	101	$	93	$	90  $	-  $	-	$		-	$		-	$	-	$	-	$	1,194	
Lake Maintenance	$	325  $	325  $	325	$	325	$	325	$	325  $	325  $	-	$		-	$		-	$	-	$	-	$	2,275	
Total O&M Expenses:	$	8,853  $	8,534  $	8,703	$	8,668	$	8,546	$	8,610  $	3,364  $	-	$		-	$		-	$	-	$	-	$	55,278	
																									
Total Expenditures:	$	13,396  $	12,698  $	12,763	$	12,855	$	12,582	$	12,647  $	12,501  $	-	$		-	$		-	$	-	$	-	$	89,443	
																									
Excess (Deficiency) of Revenues over Expenditures  $	(12,974)  $	(10,797)  $	46,158	$	104,800	$	4,052	$	(9,877)  $	(6,346)  $	-	$		-	$		-	$	-	$	-		$115,015	

Gardens at Hammock Beach
Community Development District Long Term Debt Report

Series 2024-01 AA1, Special Assessment Revenue Bonds		
Interest Rate:	4.8%, 5.875%		
Maturity Date:	5/1/2055		
Reserve Fund Definition	Maximum Annual Debt Service		
Reserve Fund Requirement	$347,084		
Reserve Fund Balance	$345,260		
Bonds Outstanding - 06/18/24	$5,040,000	
Less: Special Call - 02/01/25	($20,000)	
Less: Principal Payment - 05/01/25	($70,000)	
Less: Special Call - 05/01/25	($5,000)	
Current Bonds Outstanding	$4,945,000	

Series 2024-2 AA2, Special Assessment Revenue Bonds

Interest Rate:	4.8%, 5.875%
Maturity Date:	5/1/2055
Reserve Fund Definition	Maximum Annual Debt Service Reserve Fund Requirement		$618,856
Reserve Fund Balance	$413,578

Bonds Outstanding - 06/18/24	$8,785,000
Less: Special Call - 11/01/25	($2,905,000)
Less: Special Call - 02/01/26	($20,000)	
Current Bonds Outstanding	$5,860,000	

Gardens at Hammock Beach
Community Development District Special Assessment Receipts Fiscal Year 2026

ON ROLL ASSESSMENTS
Gross Assessments  $ 335,000.00  $	367,487.40  $	216,992.56  $ 919,479.96	
Net Assessments	$ 314,900.00  $	345,438.16  $	203,973.01  $ 864,311.16	

Date	Distribution	Gross Amount	Discount/Penalty	Commision	Interest	Net Receipts	General Fund	Debt Service Series 2024-1 AA1	Debt Service Series 2024-2 AA2	Total	
10/16/25	Check 69603	$	421.82	$	-	$	-	$	-	$	421.82	$	421.82	$	-	$	-	$	421.82	
10/30/25	Check 8228	$	1,901.19	$	-	$	-	$	-	$	1,901.19	$	1,901.19	$	-	$	-	$  1,901.19	
11/17/25	Check 69716	$  83,184.15	$	-	$ (1,663.68)	$	-	$	81,520.47	$  29,700.88	$	32,581.18	$	19,238.41	$ 81,520.47	
11/26/25	Check 69768	$  85,248.14	$  (3,409.96)	$ (1,636.77)	$	-	$	80,201.41	$  29,220.29	$	32,054.00	$	18,927.12	$ 80,201.41	
12/15/25	Check 69903	$  320,502.80	$	-	$ (6,410.05)	$	-	$	314,092.75	$ 114,435.42	$	125,533.05	$	74,124.28	$ 314,092.75	
12/22/25	Check 69941	$	8,002.32	$	-	$  (160.05)	$	-	$	7,842.27	$	2,857.22	$	3,134.31	$	1,850.74	$  7,842.27	
1/28/26	Check 70150	$  46,748.98	$  (1,099.91)	$  (912.98)	$	-	$	44,736.09	$  16,298.98	$	17,879.62	$	10,557.49	$ 44,736.09	
3/3/26	Check 70358	$	6,872.89	$	(82.50)	$  (135.81)	$	-	$	6,654.58	$	2,424.50	$	2,659.63	$	1,570.45	$  6,654.58	
4/13/26	Check 70488	$  16,499.64	$	(82.50)	$  (328.34)	$	-	$	16,088.80	$	5,861.74	$	6,430.19	$	3,796.87	$ 16,088.80	
					$	-	$	-	$	-	$	-	$	-	$	-	
					$	-	$	-	$	-	$	-	$	-	$	-	
					$	-	$	-	$	-	$	-	$	-	$	-	
						$	-	$	-	$	-	$	-	$	-	
	Total	$  569,381.93	$  (4,674.87)	$(11,247.68)	$	-	$	553,459.38	$ 203,122.04	$	220,271.98	$	130,065.36	$ 553,459.38	

36%	40%	24%	100%

$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-

64%
$ 310,851.78

Net Percentage Collected Balance Remaining To Collect

DIRECT BILL ASSESSMENTS

Palm Coast Intracoastal LLC
2026-01		
Net Assessments	
$	210,787.67	
$ 210,787.67	
Date Received	Due Date	Check Number	Net Assessed	Amount Received	Series 2024A-2	
3/9/26	3/15/26	1799	$	105,393.83	$	105,393.83	$ 105,393.83	
	9/15/26		$	105,393.83		$ 105,393.83	
			$	210,787.66	$	105,393.83	$ 210,787.66	

Section 3

1- Of Fto

�tiiriD,. Kaiti Lenhart* 	
FLAGLER couNTv suPERv1soR oF ELEcT10Ns

*

1769 E. Moody Boulevard, Building 2, Suite 101 * PO Box 901 * Bunnell, Florida 32110-0901
"oS;;......_,.,..�..�. •	Phone (386) 313-4170	Fax (386) 313-4171* www.FlaglerElections.gov
�-

April 15,2026

Stacie M. Vanderbilt
Gardens at Hammock Beach CDD 219 E. Livingston St.
Orlando, FL 32801

RE: CDD Registered Voters

Dear Stacie Vanderbilt:

In accordance with the requirements of Florida Statute 190.006(3)(a)(2)(d), the total number of registered voters for the Gardens at Hammock Beach Community Development District as of April 15, 2026, is 23.

If you have any questions or require any further assistance, please contact this office. Thank you,

Katti Lenhart
Supervisor of Elections

RECEIVED
APR 2 0 Z02&
GMS-CF,LLC

AUDIT COMMITTEE MEETING

SECTION Ill

SECTION A

GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT REQUEST FOR PROPOSALS

Annual Audit Services for Fiscal Year 2026
Flagler County, Florida
INSTRUCTIONS TO PROPOSE

SECTION 1. DUE DATE. Sealed proposals must be received no later than Friday, July 31, 2026, at 2:00 P.M., at the offices of District Manager, located 219 East Livingston Street, Orlando, FL 32801. Proposals will be publicly opened at that time.
SECTION 2. FAMILIARITY WITH THE LAW. By submitting a proposal, the Proposer is assumed to be familiar with all federal, state, and local laws, ordinances, rules, and regulations that in any manner affect the work. Ignorance on the part of the Proposer will in no way relive it from responsibility to perform the work covered by the proposal in compliance with al such laws, ordinances and regulations.

SECTION 3. QUALIFICATIONS OF PROPOSER. The contract, if awarded, will only be awarded to a responsible Proposer who is qualified by experience and licensing to do the work specified herein. The Proposer shall submit with its proposal satisfactory evidence of experience in similar work and show that it is fully prepared to complete the work to the satisfaction of the District.
SECTION 4.	SUBMISSION OF ONLY ONE PROPOSAL. Proposers shall be
disqualified and their proposals rejected if the District has reason to believe that collusion may exist among the Proposers, the Proposer has defaulted on any previous contract or is in arrears on any previous or existing contract, or for failure to demonstrate proper licensure and business organization.

SECTION 5. SUBMISSION OF PROPOSAL. Submit seven (7) copies and one (1) electronic copy of the Proposal Documents, and other requested attachments at the time and place indicated herein, which shall be enclosed in an opaque sealed envelope, marked with the title “Auditing Services - Gardens at Hammock Beach Community Development District” on the face of it.
SECTION 6. MODIFICATION AND WITHDRAWAL. Proposals may be modified or withdrawn by an appropriate document duly executed and delivered to the place where proposals are to be submitted at any time prior to the time and date the proposals are due. No proposal may be withdrawn after opening for a period of ninety (90) days.

SECTION 7. PROPOSAL DOCUMENTS. The proposal documents shall consist of the notice announcing the request for proposals, these instructions, the Evaluation Criteria Sheet and a proposal with all required documentation pursuant to Section 12 of these instructions (the “Proposal Documents”).

SECTION 8. PROPOSAL. In making its proposal, each Proposer represents that it has read and understands the Proposal Documents and that the proposal is made in accordance therewith.
SECTION 9. BASIS OF AWARD/RIGHT TO REJECT. The District reserves the right to reject any and all proposals, make modifications to the work, and waive any informalities or irregularities in proposals as it is deemed in the best interests of the District.
SECTION 10. CONTRACT AWARD. Within fourteen (14) days of receipt of the Notice of Award from the District, the Proposer shall enter into and execute a Contract (engagement letter) with the District.
SECTION 11. LIMITATION OF LIABILITY. Nothing herein shall be construed as or constitute a waiver of District’s limited waiver of liability contained in section 768.28, Florida Statutes, or any other statute or law.
SECTION 12. MISCELLANEOUS. All proposals shall include the following information in addition to any other requirements of the proposal documents.

List position or title of all personnel to perform work on the District audit. Include resumes for each person listed: list years of experience in present position for each party listed and years of related experience.
Describe proposed staffing levels, including resumes with applicable certifications.

Three references from projects of similar size and scope. The Proposer should include information relating to the work it conducted for each reference as well as a name, address and phone number of a contact person.

The lump sum cost of the provision of the services under the proposal for Fiscal Year 2021, 2022, 2023, 2024, 2025. The District intends to enter into five (5) separate one-year agreements.
Provide a proposed schedule for performance of the audit.

SECTION 13. PROTESTS. Any protest regarding the Proposal Documents, must be filed in writing, at the offices of the District Manager, within seventy-two (72) hours after the receipt of the documents. The formal protest setting forth with particularity the facts and law upon which the protest is based shall be filed within seven (7) calendar days after the initial notice of protest was filed. Failure to timely file a notice of protest or failure to timely file a formal written protest shall constitute a waiver of any right to object or protest with respect to aforesaid plans, specifications or contract documents.
SECTION 14. EVALUATION OF PROPOSALS. The criteria to be used in the evaluation of proposals are presented in the Evaluation Criteria Sheet, contained within the Proposal Documents.

SECTION 8

GARDENS AT HAMMOCK BEACH COMMUNITY DEVELOPMENT DISTRICT
REQUEST FOR PROPOSALS FOR ANNUAL AUDIT SERVICES
The Gardens at Hammock Beach Community Development District hereby requests proposals for annual financial auditing services. The proposal must provide for the auditing of the District’s financial records for the Fiscal Year ending September 30, 2026, with an option for four additional annual renewals. The District is a local unit of special-purpose government created under Chapter 190, Florida Statutes, for the purpose of financing, constructing, and maintaining public infrastructure. The District is located in Flagler County and has a general administrative operating fund and a debt service fund.

The Auditing entity submitting a proposal must be duly licensed under Chapter 173, Florida Statutes and be qualified to conduct audits in accordance with “Government Auditing Standards,” as adopted by the Florida Board of Accountancy Audits shall be conducted in accordance with Florida Law and particularly Section 218.39, Florida Statutes, and the rules of the Florida Auditor General.

Proposal packages, which include evaluation criteria and instructions to proposers, are available from the District Manager at the address and telephone number listed below.

Proposers must provide seven (7) copies and one (1) electronic copy of their proposal to GMS - CF, LLC, District Manager, 219 East Livingston Street, Orlando, FL 32801, telephone (407) 841-5524, in an envelope marked on the outside “Auditing Services – Gardens at Hammock Beach Community Development District.” Proposals must be received by Friday, July 31, 2026, 2:00 P.M., at the office of the District Manager. Please direct all questions regarding this Notice to the District Manager.

George Flint
Governmental Management Services – Central Florida, LLC District Manager