DARBY
Community Development District SEPTEMBER 10, 2024

AGENDA

Darby Community Development District
475 West Town Place
Suite 114 St. Augustine, Florida 32092
September 3, 2024 Board of Supervisors
Darby Community Development District

Dear Board Members:

The Meeting of the Darby Community Development District will be held Tuesday, September 10, 2024 at 10:30 a.m. located at 1000 Riverside Ave., Suite 600, Jacksonville, Florida 32204. Following is the advance agenda for the meeting:

Roll Call

Audience Comments (regarding agenda items listed below)

Consideration of Minutes of the July 23, 2024 Meeting

Discussion of CDD Goals & Objectives

Staff Reports
Attorney

Engineer

Manager

Supervisors Requests

Audience Comments

Financial Statements as of July 31, 2024

Consideration of Funding Request No. 10

Next Scheduled Meeting – October 8, 2024 @ 10:30 a.m.

Adjournment

THIRD ORDER OF BUSINESS

Minutes of Meeting Darby
Community Development District

The regular meeting of the Board of Supervisors of the Darby Community Development District was held Tuesday, July 23, 2024 at 10:30 a.m. at the offices of Corner Lot Development, 1000 Riverside Avenue, Suite 600, Jacksonville, Florida

Present and constituting a quorum were:
Shannon Acevedo	Vice Chairperson
Rick Egger	Supervisor
William English	Supervisor
Josh Beauchamp	Supervisor

Also present were:
Daniel Laughlin	District Manger
Wes Haber	District Counsel by telephone
Beth Leaptrott	Engineer, Connelly & Wicker by telephone
Jeremy Wannamaker	Corner Lot Development
Walt Schwartz	Corner Lot Development
Justin Holmes	Corner Lot Development Following is a summary of the actions taken at the July 23, 2024 meeting.
FIRST ORDER OF BUSINESS	Roll Call
Mr. Laughlin called the meeting to order at 10:33 a.m. and called the roll

SECOND ORDER OF BUSINESS	Audience Comments
There being none, the next item followed.

THIRD ORDER OF BUSINESS	Consideration of Minutes of the May 14, 2024
Meeting

On MOTION by Mr. Beauchamp seconded by Mr. English with all in favor the minutes of the May 14, 2024 meeting were approved as presented.

July 23, 2024	Darby Community Development District

FOURTH ORDER OF BUSINESS	Public Hearing Adopting the Fiscal Year 2025
Budget

On MOTION by Mr. English seconded by Mr. Beauchamp with all in favor the public hearing was opened.

There being no public comment,

On MOTION by Mr. English seconded by Mr. Egger with all in favor the public hearing was closed.

Overview of Budget
Mr. Laughlin stated the budget in the agenda package is a little different than we initially approved. When we approved it that set the high-level mark and this budget is a little lower. The main things to consider is the opening of the amenity center, which will take place during this fiscal year and as we discussed it will be close to the end of the fiscal year. Items such as facility maintenance, pool maintenance and all those items were higher in the previous proposed budget. Under the assessments, we have what will be on roll of what will be covered when homes are sold the $137,000, the direct bill is a portion of the administrative cost. We split the administrative by all 742 homes. There is benefit received by the undeveloped lots. This is just general fund, the operation and maintenance of the district.
Ms. Acevedo stated I was trying to understand the difference between the general fund revenue and debt series A-1 revenue. Can you explain how that is calculated?
Mr. Laughlin stated what I covered was just the O&M portion of the assessment. There are two parts to the assessment, the O&M and the debt portion is to pay back the bond each year. What you will see in these budgets is what is calculated to cover the principal and interest payments for the upcoming fiscal year. There are two bonds but one of the bonds is paid off when the home closes. The debt service for the 40-foot lots is $738.91, the 50-foot lot is $923.64. These number are grossed up to cover the collection fee from the county and the early payment discount.
Ms. Acevedo asked what is the difference in the general fund versus the A1? Is that just A1’s portion versus A2?
Mr. Laughlin stated yes. Part of this, the interest payment is 11/1 and 5/1 and a principal payment on 5/1. You will see the totals for those is $257,000 and the reason it is $364,000 is

July 23, 2024	Darby Community Development District

because of the 11/1 payment. We don’t get funds from the tax roll until after that. We start getting those int at the end of November and December. We need some carry forward to cover that 11/1 bond payment. The same for the A2, they have an 11/1 interest payment and a 5/1 interest payment totaling $573.
Mr. Haber asked were notices sent with respect to an O&M assessment? I know we have a developer funding agreement, but it sounds like you are also talking about collection of assessments.
Mr. Laughlin stated yes, I will send it to you.

Consideration of Resolution 2024-15 Relating to the Annual Appropriations and Adopting the Budget for Fiscal Year 2025

On MOTION by Ms. Acevedo seconded by Mr. Beauchamp with all in favor Resolution 2024-15 was approved.

FIFTH ORDER OF BUSINESS	Consideration of Fiscal Year 2025 Developer
Funding Agreement
Mr. Haber stated this is the agreement whereby the district would collect any funds needed to fund the O&M budget for amounts that are not collected from O&M assessments. Unless I’m looking at an older version of the agenda typically we would have in addition to the funding agreement if there are going to be O&M assessments., an assessment resolution. I don’t know if that was circulated under separate cover or an updated agenda package. Or if the expectation is that the budget is funded entirely through the budget funding agreement. In the absence of a resolution I think we can, assuming notice was sent, still have the board hold the assessment public hearing and approve an assessment level and a resolution and to have the chair authorized to sign the assessment resolution outside of today’s meeting. I wanted to get a better understanding of the intent because I have not been involved in the calls with respect to what the expectation is on the mix if any between O&M assessments and funding provided by this agreement.
Mr. Laughlin stated yes, there will be some assessments on the platted lots this year.
Mr. Haber asked do you have an assessment resolution or do you want the board authorize the chair to sign one, but still hold the public hearing to levy those assessments today.
Mr. Laughlin stated the resolutions usually come from your office; we can have the board authorize the chairman to execute the resolution once prepared.

July 23, 2024	Darby Community Development District

Mr. Haber stated the purpose of this agreement is to supplement any funding that the district needs in the absence of collecting O&M assessments. Because O&M assessments are being levied in an amount that would cover some but not all of the budget after the district collects O&M assessments, this is the default and to the extent that money is not needed, in other words if there are adequate amounts collected by virtue the inflow of O&M assessments then there may never be any amounts collected under the developer funding agreement. Between the O&M assessments and this agreement the expectation is that there will be adequate amounts of funding available to fully fund the budget as adopted if all that funding is necessary. For purposes of today’s meeting my office prepared the agreement on the CDD’s behalf but if there is a question as to whether anyone on the developer’s side reviewed it, we can approve it in substantial form subject to any review comments from the developer.
Mr. Beauchamp asked did that developer agreement get published and sent out?
Mr. Laughlin stated it was in the agenda package that was sent out and it is on the website.
This would be the same form that was entered into last year.
\	Mr. Haber stated correct, with the exception of in prior fiscal years, the agreement would have provided for all funding. I don’t think we levied assessments in prior years so the only difference would be this agreement provides that a funding obligation would only occur if necessary after the collection of O&M assessments as opposed to prior years when the expectation was the budget in its entirety would be funded through developer funding obligation.
Mr. Laughlin stated if we approve it in substantial form, it will allow anyone who had comments or questions we can make those changes before finalizing it.
Mr. Haber stated anyone on the board can sign on the district’s behalf and we would need someone who is authorized corporately to sign on the developer’s behalf.

On MOTION by Ms. Acevedo seconded by Mr. Egger with all in favor the fiscal year 2025 developer funding agreement was approved in substantial form.

Mr. Haber stated if we could note for the record, I know we opened the public hearing, that was to serve a dual purpose of both the adoption of the budget and the levy of the assessments and then just to have some discussion on the record in the absence of a resolution, I’m assuming the intent is to levy the O&M assessment at the level set forth in the adopted budget with respect to

July 23, 2024	Darby Community Development District

the 306 lots that are identified there., which is the $485.40. I would allow for any questions on how those assessments work, if not with confirmation that your office sent the assessment notices that the board by motion levied and imposed an O&M assessment and certified both the O&M assessment and the debt assessment for collection, which means that for platted lots the O&M and debt assessments will be collected by the Duval County tax collector on the tax bills and for unplatted property it will be directly collected, which just means that Daniel’s office will send an invoice for any assessments that are due and owing on unplatted property and that you would also authorize the chair or vice chair to sign as assessment resolution which just puts everything I just said in effect with respect to the assessment levels and the direction for collection of those assessments.
Ms. Acevedo stated if it is platted in which case the individual homeowner would pay directly versus if it is unplatted the developer would pay directly. Is that what I heard?
Mr. Haber stated for platted property the district will send what is called an assessment roll to the Duval County property appraiser. That assessment roll will have the amounts that are to be collected for both the debt assessments, and the O&M assessments. Those amounts will then be on the tax bill for whoever owns those lots, whether it is an actual home buyer, a builder or the developer, whoever owns those actual lots will receive the tax bill for their ad valorem taxes on that lot and that same ad valorem tax bill have the debt and O&M assessments. For unplatted property the ad valorem tax bill will not have CDD assessments, instead for unplatted property the owner of that property will receive a separate invoice from the CDD, from Daniel’s office, which will specify the amounts that property owner may owe for debt and O&M assessments and those get paid directly to Daniel’s office as opposed to first paid to the county who then remits those payments back to the CDD.

On MOTION by Ms. Acevedo seconded by Mr. Egger with all in favor a resolution levying and imposing the O&M assessments in the amounts set forth in the budget, certifying both O&M assessments and debt assessments for collection and authorizing the chair or vice chair to sign an assessment resolution was approved.

SIXTH ORDER OF BUSINESS	Ratification of Requisition No. 2

July 23, 2024	Darby Community Development District

On MOTION by Mr. English seconded by Mr. Beauchamp with all in favor requisition no. 2 was ratified.

SEVENTH ORDER OF BUSINESS	Staff Reports
Attorney
There being none, the next item followed.

Engineer
Ms. Leaptrott stated the amenity center with revisions was approved and that is well into construction. We are working on closing out Phase 1 A, B, and C and I have a meeting in a little bit about some of those documents. We are moving forward on Phase 3 and 4 to get the wetland permitting completed.

Manager – Discussion of Fiscal Year 2025 Meeting Schedule
Mr. Laughlin stated the proposed fiscal year 2025 meeting schedule is the same as this year on the second Tuesday at 10:20 a.m.
Mr. Beauchamp stated we need to look at this. Some of our meetings got bumped or canceled and a monthly meeting is necessary now that we are closing lots, builders are going to be building. As a board committing to that once a month meeting is going to be critical. If Daniel will send out a meeting invite that locks in that second Tuesday every month of the year and that way it is on your schedules.

On MOTION by Mr. Beauchamp seconded by Mr. Egger with all in favor the fiscal year 2025 meeting schedule reflecting meetings on the second Tuesday of the month was approved.

EIGHTH ORDER OF BUSINESS	Supervisors Requests
There being none, the next item followed.

NINTH ORDER OF BUSINESS	Audience Comments
There being none, the next item followed.

July 23, 2024	Darby Community Development District

TENTH ORDER OF BUSINESS	Financial Statements as of May 31, 2024
A copy of the financials was included in the agenda package.

ELEVENTH ORDER OF BUSINESS	Ratification of Funding Request No. 9

On MOTION by Mr. English seconded by Mr. Beauchamp with all in favor funding request no. 9 was ratified.

TWELFTH ORDER OF BUSINESS	Next Meeting Scheduled – August 13, 2024 at
10:30 a.m.
Mr. Laughlin stated the next meeting is scheduled for August 13, 2024 at 10:30 a.m. in the same location.

On MOTIION by Mr. Egger seconded by Mr. Beauchamp with all in favor the meeting adjourned at11:03 a.m.

Secretary/Assistant Secretary	Chairman/Vice Chairman

FOURTH ORDER OF BUSINESS

Memorandum
To: Board of Supervisors From: District Management Date: September 10, 2024
RE:	HB7013 – Special Districts Performance Measures and Standards

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

Exhibit A:
Goals, Objectives and Annual Reporting Form

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

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

Goal 1.2: Notice of Meetings Compliance
Objective: Provide public notice of meetings in accordance with Florida Statutes, using at least two communication methods.
Measurement: Timeliness and method of meeting notices as evidenced by posting to CDD website, publishing in local newspaper and via electronic communication. Standard: 100% of meetings were advertised per Florida statute on at least two mediums (i.e., newspaper, CDD website, electronic communications).
Achieved: Yes ☐ No ☐
 Infrastructure and Facilities Maintenance
Goal 2.1: Field Management and/or District Management Site Inspections Objective: Field manager and/or district manager will conduct quarterly inspections per District Management services agreement to ensure safety and proper functioning of the District’s infrastructure.
Measurement: Field manager and/or district manager visits were successfully completed, as evidenced by ﬁeld manager and/or district manager’s reports, notes or other record keeping method.
Standard: 100% of site visits were successfully completed as described within ﬁeld management services agreement
Achieved: Yes ☐ No ☐

 Financial Transparency and Accountability
Goal 3.1: Annual Budget Preparation

Objective: Prepare and approve the annual proposed budget by June 15 and ﬁnal budget was adopted by September 30 each year.
Measurement: Proposed budget was approved by the Board before June 15 and ﬁnal budget was adopted by September 30 as evidenced by meeting minutes and budget documents listed on CDD website and/or within district records.
Standard: 100% of budget approval & adoption were completed by the statutory deadlines and posted to the CDD website.
Achieved: Yes ☐ No ☐
Goal 3.2: Financial Reports
Objective: Publish to the CDD website the most recent versions of the following documents: Annual audit, current ﬁscal year budget with any amendments, and most recent ﬁnancials within the latest agenda package.
Measurement: Annual audit, previous years’ budgets, and ﬁnancials are accessible to the public as evidenced by corresponding documents on the CDD’s website.
Standard: CDD website contains 100% of the following information: Most recent annual audit, most recent adopted/amended ﬁscal year budget, and most recent agenda package with updated ﬁnancials.
Achieved: Yes ☐ No ☐
Goal 3.3: Annual Financial Audit
Objective: Conduct an annual independent ﬁnancial audit per statutory requirements and publish the results to the CDD website for public inspection, and transmit to the State of Florida.
Measurement: Timeliness of audit completion and publication as evidenced by meeting minutes showing board approval and annual audit is available on the CDD’s website and transmitted to the State of Florida.
Standard: Audit was completed by an independent auditing ﬁrm per statutory requirements and results were posted to the CDD website and transmitted to the State of Florida.
Achieved: Yes ☐ No ☐

Chair/Vice Chair:		Date:	 Print Name:	 
Darby Community Development District

District Manager:	 Print Name:	 Darby Community Development District

Date:	

EIGHTH ORDER OF BUSINESS

Darby
Community Development District

Unaudited Financial Reporting
July 31, 2024

Table of Contents

	Balance Sheet

	General Fund

	Month to Month

	Debt Service Fund Series 2024 A-1

	Debt Service Fund Series 2024 A-2

	Capital Projects Fund

	Requisiton Summary

	Developer Contributions

	Long Term Debt Report

Darby
Community Development District Combined Balance Sheet
July 31, 2024

General
Fund

2024 A1 Debt
Service Fund

2024 A2 Debt
Service Fund

Capital Project
Fund

Totals
Governmental Funds

Assets:
Cash:
Operating Account

$	10,060	$

-	$	-

-	$	10,060

Due from Developer	17,120	-	-	-	17,120 Investments:
Series 2024
Reserve A1	-	258,066	-	-	258,066	
Reserve A2	-	-	573,694		573,694	
Cap Interest A1	-	111,827	-	-	111,827	
Cap Interest A2	-	306,199		306,199	
Acquisiton and Construction	-	-	-	6,001,022	6,001,022	
Recreational Improvements	-	-	-	1,531,019	1,531,019	
Cost of Issuance	-	-	-	15,744	15,744	

Prepaid Expenses	-	-	-	-	-	
Deposits	-	-	-	-	-	
Total Assets	$	27,180	$	369,893	$	879,893	$	7,547,785	$	8,824,751	

Liabilities:
Accounts Payable	

$	12,763	

$	-	$	-	$	-	$	

12,763	
Due to Debt Service	-	-	-	-	-	
Total Liabilites	$	12,763	$	-	$	-	$	-	$	12,763	

Fund Balance:
Nonspendable: Prepaid Items	

$	-	

$	-	

$	-	

$	-	

$	

-	
Restricted for:
Debt Service - Series	
-	
369,893	
879,893	
-		
1,249,785	
Capital Project - Series	-	-	-	7,547,785		7,547,785	
Unassigned	14,417	-	-	-		14,417	
Total Fund Balances	$	14,417	$	369,893	$	879,893	$	7,547,785	$	8,811,988	
							
Total Liabilities & Fund Balance	$	27,180	$	369,893	$	879,893	$	7,547,785	$	8,824,751	

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

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

Revenues:

Developer Contributions	$	109,148	$	49,983	$	49,983	$	-	
Total Revenues	$	109,148	$	49,983	$	49,983	$	-	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	8,800	$	7,333	$	-	$	7,333	
FICA Expense	673	561	-	561	
Engineering	12,000	10,000	-	10,000	
Attorney	25,000	20,833	2,945	17,889	
Annual Audit	5,000	-	3,200	(3,200)	
Assessment Administration	3,200	-	-	-	
Management Fees	36,000	30,000	30,000	-	
Dissemination Agent	-	-	3,125	(3,125)	
Information Technology	1,800	1,500	1,500	-	
Website Maintenance	1,200	1,000	1,000	-	
Telephone	500	417	75	342	
Postage & Delivery	1,500	1,250	28	1,222	
Insurance General Liability	5,500	5,500	5,000	500	
Printing & Binding	1,200	1,000	207	793	
Legal Advertising	5,000	4,167	2,921	1,246	
Other Current Charges	600	500	202	298	
Office Supplies	1,000	833	21	812	
Dues, Licenses & Subscriptions	175	175	175	-	
Total General & Administrative	$	109,148	$	85,069	$	50,398	$	34,671	
					
Excess (Deficiency) of Revenues over Expenditures	$	-	$	(35,086)	$	(415)	$	(34,671)	
					
Fund Balance - Beginning	$	-		$	14,832		
					
Fund Balance - Ending	$	-		$	14,417		

Darby
Community Development District Month to Month

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

Revenues:														
Developer Contributions	$	11,142	$	3,308	$	-	$	6,535	$	-	$	11,877	$	-	$	8,279	$	-	$	8,841	$	-	$	-	$	49,983	
Total Revenues	$	11,142	$	3,308	$	-	$	6,535	$	-	$	11,877	$	-	$	8,279	$	-	$	8,841	$	-	$	-	$	49,983	

Expenditures:														
General & Administrative:														

Attorney	
$	-	
$	-	
$	1,096	
$	399	
$	476	
$	514	
$	460	
$	-	
$	-	
$	-	
$	-	$	-	$	2,945	
Annual Audit	-	-	-	-	-	-	-	3,200	-	-	-	-	3,200	
Management Fees	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	-	-	30,000	
Dissemination Agent	-	-	-	-	-	625	625	625	625	625	-	-	3,125	
Information Technology	150	150	150	150	150	150	150	150	150	150	-	-	1,500	
Website Maintenance	100	100	100	100	100	100	100	100	100	100	-	-	1,000	
Telephone	7	-	22	-	12	-	6	-	13	15	-	-	75	
Postage & Delivery	4	-	2	1	1	10	1	1	2	8	-	-	28	
Insurance General Liability	5,000	-	-	-	-	-	-	-	-	-	-	-	5,000	
Printing & Binding	34	10	1	9	2	33	-	39	80	-	-	-	207	
Legal Advertising	735	409	1,217	80	-	76	-	153	252	-	-	-	2,921	
Other Current Charges	2	14	11	-	18	11	96	14	20	15	-	-	202	
Office Supplies	14	-	0	0	0	0	0	7	0	-	-	-	21	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Total General & Administrative	$	9,220	$	3,683	$	5,599	$	3,739	$	3,758	$	4,519	$	4,437	$	7,288	$	4,242	$	3,913	$	-  $	-  $	50,398	
												
Excess (Deficiency) of Revenues over Expenditures	$	1,922	$	(375)	$	(5,599)	$	2,797	$	(3,758)	$	7,358	$	(4,437)	$	991	$	(4,242)	$	4,929	$	-  $	-  $	(415)	
												
Net Change in Fund Balance	$	1,922	$	(375)	$	(5,599)	$	2,797	$	(3,758)	$	7,358	$	(4,437)	$	991	$	(4,242)	$	4,929	$	-  $	-  $	(415)	

Darby
Community Development District Debt Service Fund Series 2024 - A1
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending July 31, 2024

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

Revenues:		
Special Assessments - Tax Roll	$	-	$	-	$	-	$	-	
Interest Income	-	-	8,046	8,046	
Total Revenues	$	-	$	-	$	8,046	$	8,046	

Expenditures:					
Interest - 11/1	$	-	$	-	$	-	$	-	
Interest - 5/1	47,278	47,278	47,278	-	
Principal - 5/1	-	-	-	-	
Total Expenditures	$	47,278	$	47,278	$	47,278	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	(47,278)	$	(47,278)	$	(39,232)	$	8,046	

Other Financing Sources/(Uses):					
Bond Proceeds	$	409,125	$	409,125	$	409,125	$	-	
Total Other Financing Sources/(Uses)	$	409,125	$	409,125	$	409,125	$	-	
					
Net Change in Fund Balance	$	361,847	$	361,847	$	369,893	$	8,046	
					
Fund Balance - Beginning	$	-		$	-		
					
Fund Balance - Ending	$	361,847		$	369,893		

Darby
Community Development District Debt Service Fund Series 2024-A2
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending July 31, 2024

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

Revenues:		
Special Assessments - Tax Roll	$	-	$	-	$	-	$	-	
Interest Income	-	-	19,352	19,352	
Total Revenues	$	-	$	-	$	19,352	$	19,352	

Expenditures:					
Interest - 11/1	$	-	$	-	$	-	$	-	
Interest - 5/1	130,675	130,675	130,675	-	
Principal - 5/1	-	-	-	-	
Total Expenditures	$	130,675	$	130,675	$	130,675	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	(130,675)	$	(130,675)	$	(111,323)	$	19,352	

Other Financing Sources/(Uses):					
Bond Proceeds	$	991,215	$	991,215	$	991,215	$	-	
Total Other Financing Sources/(Uses)	$	991,215	$	991,215	$	991,215	$	-	
					
Net Change in Fund Balance	$	860,540	$	860,541	$	879,893	$	19,352	
					
Fund Balance - Beginning	$	-		$	-		
					
Fund Balance - Ending	$	860,540		$	879,893		

Darby
Community Development District Capital Projects Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending July 31, 2024

	2024A	
	Thru 07/31/24	

Revenues		
Interest Income	$	159,632	
Total Revenues	$	159,632	

Expenditures:		
Capital Outlay - Acquisiton and Construciton	$	4,065,666	
Cost of Issuance	263,140	
Underwriter's Discount	267,700	
Capital Outlay - Recreation Improvements	-	
Total Expenditures	$	4,596,506	
		
Excess (Deficiency) of Revenues over Expenditures	$	(4,436,874)	

Other Financing Sources/(Uses)		
Bond Proceeds	$	11,984,660	
Total Other Financing Sources (Uses)	$	11,984,660	
		
Net Change in Fund Balance	$	7,547,785	

Fund Balance - Ending	$	7,547,785

Fund Balance - Beginning	$	-

Darby
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Revenue Bonds, Series 2024

Date Paid  REQ #	Contractor	Description	Requisition

Fiscal Year 2024
2/20/24	1	Plummer JV LLC		Earthwork and Offsite Improvements	$	4,051,668.56	
6/20/24	2	Kutak Rock		Payment for legal fees related to bond validation and acquisition of capital improvements.	13,997.25	
			TOTAL		$	4,065,665.81	
	
Project (Construction) Fund at 2/29/24	
$	9,938,469.46	
	Interest Earned and Transfer thru 07/31/24	114,221.15	
	Outstanding Requistions	13,997.25	
	Requisitons Paid thru 07/31/24	(4,065,665.81)	

6,001,022.05

$

Remaining Project (Construction) Fund

Darby
Community Development District Long Term Debt Report

	Series 2024 A-1, Special Assessment Revenue Bonds		
Original Issue Amount:		$3,620,000	
Interest Rate:		4.8% - 6.0%	
Maturity Date:		5/1/2054	
Reserve Fund Definition		Max Annual Debt Service	
Reserve Fund Requirement		$258,066	
Reserve Fund Balance		258,066	
Bonds Outstanding: 2/9/24		$3,620,000	
Current Bonds Outstanding	$3,620,000	

	Series 2024 A-2, Special Assessment Revenue Bonds		
Original Issue Amount:		$9,765,000	
Interest Rate:		5.88%	
Maturity Date:		5/1/2035	
Reserve Fund Definition		Max Annual Debt Service	
Reserve Fund Requirement		$573,694	
Reserve Fund Balance		573,694	
Bonds Outstanding: 2/9/24		$9,765,000	
Current Bonds Outstanding	$9,765,000	

Darby Community Development District Developer Contributions/Due from Developer

Funding
Request #	Date Prepared	Date
Payment Received	Check Amount	Total
Funding Request FY23	Total
Funding Request FY24	Over and
(short) Balance Due	

1	
6/19/23	
9/6/23	
$	20,250.00	$	20,250.00	$	-	
$	-	
2	8/22/23	11/22/23	$	4,471.00	$	4,471.00	$	-	$	-	
3	9/25/23	11/22/23	$	11,947.78	$	6,947.78	$	5,000.00	$	-	
4	10/5/23	11/22/23	$	6,866.65	$	724.63	$	6,142.02	$	-	
5	11/28/23	1/31/24	$	3,308.04	$	-	$	3,308.04	$	-	
6	1/25/24	3/6/24	$	7,546.36	$	1,011.00	$	6,535.36	$	-	
7	3/31/24	5/20/24	$	11,877.27	$	-	$	11,877.27	$	-	
8	5/7/24		$	-	$	-	$	8,278.93	$	8,278.93	
9	7/15/24		$	-	$	-	$	8,841.43	$	8,841.43	
$	-	$	-	$	-	$	-	
$	-	$	-	$	-	$	-	
$	-	$	-	$	-	$	-	
Due from Developer	$	66,267.10	$	33,404.41	$	49,983.05	$	17,120.36	
					
Total Developer Contributions FY24			$	49,983.05		

NINTH ORDER OF BUSINESS

Darby
Community Development District	FY 24 Funding Request #10
August 31, 2024

PAYEE	GENERAL FUND

FY24

GMS, LLC
Inv# 15 - Management fees August 2024

$	3,942.18

Kutak Rock LLP
Inv #3436950 General Counsel May 2024	1,602.00

Total Funding Request	$	5,544.18

Please make check payable to:

Darby Community Development District
475 West Town Place Ste 114 St Augustine FL 32092

Governmental Management Services, LLC
1001 Bradford Way
Kingston, TN 37763

Invoice

Bill To:
Darby CDD
475 West Town Place Suite 114
St. Augustine, FL 32092

Invoice #: 15
Invoice Date: 8/1/24
Due Date: 8/1/24
Case:
P.O. Number:

Description	Hours/Qty	Rate	Amount

Management Fees - August 2024 Website Administration - August 2024 Information Technology - August 2024
Dissemination Agent Services - August 2024 Office Supplies
Postage Copies Telephone		3,000.00
100.00
150.00
625.00
0.06
1.28
52.05
13.79	3,000.00
100.00
150.00
625.00
0.06
1.28
52.05
13.79	

Total	$3,942.18	
Payments/Credits	$0.00	
Balance Due	$3,942.18	

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

Federal ID 47-0597598

August 12, 2024

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

ACH/Wire Transfer Remit To:
ABA #104000016
First National Bank of Omaha
Kutak Rock LLP A/C # 24690470
Reference: Invoice No. 3436950 Client Matter No. 43923-1
Notification Email: eftgroup@kutakrock.com

Mr. Jim Oliver Darby CDD
C/O Governmental Management Services, LLC Suite 114
475 West Town Place
St. Augustine, FL 32092	Invoice No. 3436950
43923-1

Re:	General Counsel
For Professional Legal Services Rendered

05/01/24	K. Jusevitch	0.20	34.00	Prepare budget resolution and confer	
				with Haber regarding same	
05/02/24	W. Haber	0.30	108.00	Review and revise budget resolution	
05/03/24	J. Gillis	0.40	68.00	Coordinate response to auditor letter	
05/03/24	W. Haber	0.20	72.00	Review	and	respond	to	
				correspondence from HOA counsel	
05/03/24	K. Jusevitch	0.20	34.00	Correspond  with  district  manager	
				regarding budget resolution	
05/09/24	W. Haber	0.30	108.00	Review	and	respond	to	inquiry	
				regarding account status	
05/10/24	W. Haber	0.30	108.00	Confer	with	Sweeting	regarding	
				agenda for May meeting	
05/14/24	W. Haber	1.10	396.00	Prepare for and participate in Board	
				meeting; review O&M assessment	
				allocation options	
05/17/24	W. Haber	0.80	288.00	Review	and	respond	to	inquiry	
				regarding use of amenity facility;	
				review and comment on Declaration	
				of Covenants	
05/20/24	W. Haber	0.30	108.00	Review	revisions	to	declaration;	
				confer with O'Neal regarding same	

KUTAK ROCK LLP
Darby CDD August 12, 2024
Client Matter No. 43923-1 Invoice No. 3436950
Page 2

05/21/24	K. Jusevitch	0.20	34.00	Confer with Haber regarding budget	
				hearing	
05/24/24	W. Haber	0.30	108.00	Review and revise budget notice and	
				resolutions	
05/24/24	K. Jusevitch	0.20	34.00	Confer with Haber regarding budget	
				hearing	
05/28/24	K. Jusevitch	0.40	68.00	Prepare budget hearing documents	
				and confer with Haber; correspond	
				with district manager regarding same	
05/30/24	K. Jusevitch	0.20	34.00	Correspond  with  district  manager	
				regarding budget hearing notice	

TOTAL HOURS	5.40

TOTAL FOR SERVICES RENDERED	$1,602.00	
TOTAL CURRENT AMOUNT DUE	$1,602.00	
UNPAID INVOICES:		
May 31, 2024	Invoice No. 3397640	514.00	
July 8, 2024	Invoice No. 3421532	460.00	
TOTAL DUE	$2,576.00