INDIGO COMMUNITY DEVELOPMENT DISTRICT

MAY 22, 2019 AGENDA PACKAGE

May 16, 2019

Indigo
Community Development District
475 West Town Place, Suite 114, St. Augustine, Florida 32092 Phone: 904-940-5850 - Fax: 904-940-5899

Board of Supervisors Indigo Community Development District

Dear Board Members:

The regular meeting of the Indigo Community Development District will be held Wednesday, May 22, 2019 at 1:00 p.m. at the Holiday Inn Daytona Beach LPGA Blvd., Boardroom, 137 Automall Circle, Daytona Beach, Florida 32124. Following is the advance agenda for the meeting:

Audit Committee Meeting
Roll Call
Approval of Auditor Evaluation Criteria
Other Business
Adjournment
Board of Supervisors Meeting
Roll Call
Audience Comments (Limited to 3 minutes per person)
Approval of Minutes of the March 27, 2019 Meeting
Acceptance of the Audit Committee’s Recommendation and Authorization for Staff to Issue an RFP for Audit Services
Acceptance of the Draft Fiscal Year 2018 Audit Report
Consideration of Resolution 2019-02, Approving the Proposed Budget for Fiscal Year 2020 and Setting a Public Hearing Date for Adoption
Staff Reports
District Counsel
District Engineer
District Manager – Report on the Number of Registered Voters (1,776)
Field Operations Manager
Supervisors’ Request and Audience Comments (Limited to 3 minutes per person)
Approval of Check Register
Financial Statements as of April 30, 2019
Next Scheduled Meeting – June 26, 2019 at 1:00 p.m. at the Holiday Inn LPGA
Adjournment

Enclosed under the third order of business is a copy of the minutes of the March 27, 2019 meeting for your review and approval.

Enclosed under the fourth order of business is a copy of the proposed auditor selection evaluation criteria.

The fifth order of business is acceptance of the draft fiscal year 2018 audit report. A copy of the report is enclosed of your review.

The sixth order of business is consideration of resolution 2019-02, approving the proposed budget for fiscal year 2020 and setting a public hearing date for adoption. A copy of the resolution is enclosed for your review and approval, however the budget will be provided under separate cover.

Enclosed are the check register and financial statements.

The balance of the agenda is routine in nature and staff will give their reports at the meeting. In the meantime if you have any questions, please contact me.

Sincerely,

James Perry
James A. Perry District Manager

2

AGENDA

Indigo
Community Development District
Agenda

Wednesday	Holiday Inn Daytona Beach LPGA Blvd. May 22, 2019		137 Automall Circle
1:00 p.m.	Daytona Beach, Florida 32124
Call In # 1-800-264-8432 Code 752807
www.indigocdd.com
Audit Committee Meeting

Roll Call

Approval of Auditor Evaluation Criteria

Other Business

Adjournment

Board of Supervisors Meeting

Roll Call

Audience Comments (Limited to 3 minutes per person)

Approval of Minutes of the March 27, 2019 Meeting

Acceptance of the Audit Committee’s Recommendation and Authorization for Staff to Issue an RFP for Audit Services

Acceptance of the Draft Fiscal Year 2018 Audit Report

Consideration of Resolution 2019-02, Approving the Proposed Budget for Fiscal Year 2020 and Setting a Public Hearing Date for Adoption

Staff Reports
District Counsel

District Engineer

District Manager – Report on the Number of Registered Voters (1,776)

Field Operations Manager

Supervisors’ Request and Audience Comments (Limited to 3 minutes per person)

Approval of Check Register

Financial Statements as of April 30, 2019

Next Scheduled Meeting – June 26, 2019 at 1:00 p.m. at the Holiday Inn LPGA

Adjournment

MINUTES

INDIGO
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Indigo Community Development District was held Wednesday, March 27, 2019 at 1:00 p.m. in the Holiday Inn Daytona Beach LPGA Boulevard, 137 Automall Circle, Daytona Beach, Florida.

Present and constituting a quorum were:

Thomas G. Leek	Chairman
Robert E. Welsh	Vice Chairman
John McCarthy	Assistant Secretary
Donald Parks	Assistant Secretary
Mark McCommon	Assistant secretary Also Present were:
James Perry	District Manager
Katie Buchanan	District Counsel
Kurt von der Osten	Field Operations Manager
Jamie Rountree	Team Rountree

FIRST ORDER OF BUSINESS	Roll Call
Mr. Perry called the meeting to order at 1:00 p.m. and called the roll.

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

THIRD ORDER OF BUSINESS	Approval of the Minutes of the December 12,
2018 Meeting

On MOTION by Mr. Parks seconded by Mr. McCommon with all in favor the minutes of the December 12, 2018 meeting were approved as presented.

FOURTH ORDER OF BUSINESS	Selection of Audit Committee
Mr. Perry stated the financials are audited every year and our contract with the current auditor expires with fiscal year 2018. For fiscal year 2019, which we are in right now and ends

September 30, we have to select a new audit firm or retain the current one. Today we are asking the board to consider appointing the whole board to be the audit committee. At our next meeting we will have an audit committee meeting, where you will decide what the criteria is and most of that is determined by statute. We will then ask that you authorize staff to move forward with solicitation of proposals and the following meeting you will evaluate the proposals and select an audit firm.

On MOTION by Mr. Parks seconded by Mr. McCommon with all in favor the board members were appointed to serve as the audit committee.

FIFTH ORDER OF BUSINESS	Staff Reports
Attorney
Ms. Buchanan stated since the last meeting we were contacted by counsel for the trustee and they have requested that the district move forward with foreclosing the delinquent parcels. By way of background you will recall that in 2014 we reallocated our special assessments and had a hearing; after that hearing we immediately invoiced the landowners that had been previously delinquent and the statute of limitations for us to collect that debt is coming soon. I reminded the trustee of that and they have spoken with the bondholders and have made the request that we start to foreclose.
Mr. McCommon asked which parcels is that related to?
Mr. Perry stated the various parcels are undeveloped lands. Once we went through that process we also recorded on those individual parcels the notice that we sent explaining that they were delinquent and the reason I want to mention that is some of those parcels have changed ownership since that time, but the people who acquired those undeveloped parcels when they did their title work should have been aware of that issue.
Mr. McCommon asked what is the status of the buyer for SW30 and 32? Ms. Buchanan stated that deal closed.
Mr. McCommon asked are we current on that? Mr. Perry responded yes, per the agreement.
Mr. McCommon asked when did that close?

Ms. Buchanan stated it closed shortly after the board meeting and none of the substantial terms changed, everything was as was presented to you.
Mr. Welsh asked is NW 21 on the list?
Ms. Buchanan stated no, it is not on the list that would be foreclosed. They are parcels that were owned by GC Land or HWCGC Investment Land, which was an affiliate of GC Land. Those were the only two owners initially, however, as Jim mentioned some of those have changed hands, whether it be tax certificate sales or what have you and now it is G.C. Land, EBT Properties, Ina Group, a couple of individuals and a large number still owned by HWCGC Investments.
Mr. McCarthy asked what is the total acreage?
Ms. Buchanan stated it might be easier to give you the total outstanding amount of money. When you are looking at the total accelerated balance of the 1999C balance it is about
$820,000 additionally, you were looking at some lots that had the 2005 balance, which is $1.95 million. That is the principal amount and there is delinquent interest and penalties that would accrue on that as well. When you count interest, penalties and acceleration you get close to $10 million.
Mr. McCommon stated help me understand why the bondholders would not do the foreclosure since they have the debt.
Mr. Perry stated the district has the debt.
Ms. Buchanan stated it is technically default of payment of the special assessments. That is the reason they have asked us to pursue it. I have requested confirmation that they are going to pay the expenses of the foreclosure out of the trust estate and I assume when we ask for a motion to authorize this foreclosure, your approval will be conditioned on that.
Mr. Parks asked how long is that process?
Ms. Buchanan responded it really depends on the court calendar. You can have the complaint prepared in this particular instance because we have nine parties my thought is to do just one complaint for the nine parties because you will have various parties with different tracts, it is hard to say. My guess is it would take a while to untangle it. The reality is that longer may be better. They are doing this because of the statute of limitations, they would like to see more properties work out like the American property did and the Cardinal property did but clearly, they want to preserve their rights.

Mr. Perry stated this is also a way to force those parties to potentially do a workout.
Mr. McCommon asked what is the next step for the CDD on 30 and 32? Whatever development they are doing has to be approved.
Mr. Perry stated the development will be approved by the city; it doesn’t get approved by this board.
Ms. Buchanan stated the next real step for the CDD once they have their development approvals is comparing that to the number of units that we anticipated and seeing whether a true- up is due.
Mr. McCommon asked would you anticipate any cost to the CDD for these foreclosures? Even if the bondholders were agreeable, would they pay all the expenses or would there be expenses we would bear in this process?
Ms. Buchanan stated the way my office would work it is we would set up a separate billing matter and everything that relates to the foreclosure would be put on that separate matter. It would be isolated, and I expect that it would all be paid. The foreclosure process itself; six to nine months is reasonable, and I expect this might take longer just because it is kind of messy.
Mr. McCommon stated before we start you are going to need to get their agreement to pay the expenses.
Ms. Buchanan stated right, what we did initially because we have some timing issues is, we ordered the title work as to which entities or owners we would need to include in the complaint, and they agreed to cover the cost of that title work. We had an interim agreement but now that we have had this meeting and the title work came back last week, it would be the start of the real charges.

On MOTION by Mr. Parks seconded by Mr. McCommon with all in favor staff was authorized to proceed with foreclosure of delinquent parcels subject to the bondholder paying the expense of the foreclosure.

Mr. McCommon stated I don’t know that anything will happen between now and our next meeting, but I would like to understand what steps are being taken between meetings.
Ms. Buchanan stated the next step now that we have the title work is to prepare a foreclosure compliant, identifying all parties; we would then serve that on the parties and file a

notice of lis pendens so that any potential purchaser of the property understands and knows that this property is subject to litigation. Once the foreclosure complaint is filed, they have 20 days  to file an answer whether they agree or disagree with the conclusions that I make in the complaint and then at that point there is discovery. Because there are so many parties, I expect that they will take off on different paths, but I would like to start it with one because that is the cleanest and easiest. I don’t think the bondholders are going to mind if this takes a while  because they want to give every opportunity to work this out.
Engineer
There being none, the next item followed.
Manager
Mr. Perry stated there was one parcel they are looking at rezoning, the 300 acres and rezoning is going to a mixed-use residential, potential office, retail. The owner of the parcel is requesting this and there is a hearing in regard to that and it is a zoning matter before the city, this board doesn’t have any power over zoning matters. If you want to attend those personally, that is fine, but it is not a district matter. The one thing I will say is I would expect what they  will do with that parcel once they start to develop it and get it site planned and or plats approved I expect they will probably pay off the debt on that and make it cleaner and if not we are going to have to reallocate the debt. If they adjust the units, we will have to adjust our O&M also.
Mr. Leek joined the meeting at this time.
Field Operational Manager
Mr. von der Osten stated the issue generating the most questions is the construction at Champions and LPGA and the contractor did reach out to us before he started construction a month ago. It is basically all the infrastructure for the traffic signals going in there. This contractor is also developing the Publix Shopping Center across the street that is going to be one of the main entrances to that shopping center across from Champions. It will be a four-way intersection and the driveway across will be a multiple lane entrance to the shopping center across from our entrance there. That will be a fully functional traffic signal with turn lanes from both directions on LPGA. What they are doing now is directional bores underneath the road. Once you look at the plat you realize that right of way for LPGA Boulevard comes back almost to our fountains, probably 10 – 15 feet in front of the fountains so it looks like they are on our property but in reality it is county right of way and you also have the city right of way coming in

and they might be treading a little bit on our property but they have agreed to all restoration of any damaged plant material and sidewalks and I recommended that they discuss any of the plant material, landscaping and irrigation issues with Team Rountree since he knows the system. They agreed to that and they have worked it out with Jamie on when they will be ready to go in and replace sod, plants, and sidewalk, that type of thing.
Mr. McCommon stated you mentioned turn lanes and that means the road is going to be widened.
Mr. von der Osten stated I don’t know just how far into the right of way the pavement expands, but I will find out.
Mr. McCommon stated we have a turn lane now. Will they redo that for us or will there no longer be a turn lane?
Mr. von der Osten stated there is a turn lane coming in from both directions on LPGA. Right now the schedule for the traffic signal is flashing in May and fully operational in July.
Mr. Leek asked when will they be done with that?
Mr. Rountree stated in about two months I should be able to go in and start restoration. Today they are doing chlorination of the line installed on the west side and once that is done and everything is buried for the last time I can go in and do my irrigation check, do my final grade and sod. On the east side where they are going to widen that there is no reason to do anything there because they are done, and they will come in and set the light poles. If we go in and start redoing things other than just sod, which is the cheap part they are just going to tear it up again. We can have it look halfway decent in the meantime. Once he pours the sidewalk on the west side, we will grade it and sod it. I expect that to be in the next couple of weeks.
Mr. von der Osten stated we are looking at the interchange because there was a lot of damage to our irrigation system out there from traffic, lighting project and whatnot and they have been much more difficult to get in contact with. We can have it repaired, we can take care of it almost immediately for the broken valves, we are going to repair those at the same time we are talking to them and see if we get anywhere with that.
Mr. McCarthy asked why don’t we wait until everything is done?
Mr. von der Osten stated if they are still in the area with heavy equipment, we are not going to do the repairs.

A little thing coming down the road, we are not proposing anything right now, but the palm trees as you come in the same entrance where the construction is on Champions are getting so tall we can’t reach the top of them with any lifts that we have. Sometime down the road those are probably going to have to be removed or just left and see what happens, but they are so tall we can’t get any equipment in there to trim them. We might want to look at a sizeable landscape improvement down the road.
Just an FYI when we were discussing parks and playgrounds Rennar chose to try to attempt to amend their documents. Last week that vote failed to be approved. Right now, that is on hold.

SIXTH ORDER OF BUSINESS	Supervisors	Requests	and	Audience
Comments
There being none, the next item followed.

SEVENTH ORDER OF BUSINESS	Approval of Check Register

On MOTION by Mr. Parks seconded by Mr. Leek with all in favor the check registers were approved.

EIGHTH ORDER OF BUSINESS	Financial Statements as of February 28, 2019
A copy of the financials was included in the agenda package.

NINTH ORDER OF BUSINESS	Other Business
Mr. Leek stated I have the certificates of the election for John McCarthy, Mark McCommon and Robert Welsh.

TENTH ORDER OF BUSINESS	Next Scheduled Meeting – May 22, 2019 at
1:00 p.m. @ Holiday Inn
Mr. Perry stated the next scheduled meeting is May 22, 2019 at 1:00 p.m. in the same location.

On MOTION by Mr. Welsh seconded by Mr. Leek with all in favor the meeting adjourned at 1:37 p.m.

 	
Secretary/Assistant Secretary	Chairman/Vice Chairman

FOURTH ORDER OF BUSINESS

INDIGO CDD AUDITOR SELECTION EVALUATION CRITERIA
Ability of Personnel.	(20 Points)

(E.g., geographic locations of the firm’s headquarters or permanent office in relation to the project; capabilities and experience of key personnel; present ability to manage this project; evaluation of existing work load; proposed staffing levels, etc.)
Proposer’s Experience.	(20 Points)

(E.g. past record and experience of the Proposer in similar projects; volume of work previously performed by the firm; past performance for other Community Development Districts in other contracts; character, integrity, reputation of respondent, etc.)
Understanding of Scope of Work.	(20 Points)

Extent to which the proposal demonstrates an understanding of the District’s needs for the services requested.
Ability to Furnish the Required Services.	(20 Points)

Extent to which the proposal demonstrates the adequacy of Proposer’s financial resources and stability as a business entity necessary to complete the services required. (E.g., the existence of any natural disaster plan for business operations)
Price.	(20 Points)

Points will be awarded based upon the price bid for the rendering of the services and reasonableness of the price to the services.

FIFTH ORDER OF BUSINESS

INDIGO
COMMUNITY DEVELOPMENT DISTRICT VOLUSIA COUNTY, FLORIDA FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018

INDIGO COMMUNITY DEVELOPMENT DISTRICT VOLUSIA COUNTY, FLORIDA

TABLE OF CONTENTS

	    Page		
INDEPENDENT AUDITOR’S REPORT	1-2	
MANAGEMENT’S DISCUSSION AND ANALYSIS	3-6	
BASIC FINANCIAL STATEMENTS		
Government-Wide Financial Statements:		
Statement of Net Position	7	
Statement of Activities	8	
Fund Financial Statements:		
Balance Sheet – Governmental Funds	9	
Reconciliation of the Balance Sheet – Governmental Funds
to the Statement of Net Position	
10	
Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds	
11	
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities	
12	
Notes to the Financial Statements	13-22	
REQUIRED SUPPLEMENTARY INFORMATION		
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – General Fund	
23	
Notes to Required Supplementary Information	24	
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	

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 REQUIRED BY CHAPTER 10.550 OF THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	
28-30	

INDEPENDENT AUDITOR’S REPORT

To the Board of Supervisors
Indigo Community Development District Volusia County, Florida

Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities and each major fund of Indigo Community Development District, Volusia County, Florida (“District”) as of and for the fiscal year ended September 30, 2018, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.

Management’s Responsibility for the Financial Statements

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

Auditor’s Responsibility

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

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

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

The District was unable to provide sufficient competent evidential matter for certain expenditures incurred by the Debt Service fund. The financial information of the Debt Service fund is part of the governmental activities and is considered a major fund.

Opinions

In addition, in our opinion, except for the effects of such adjustments, if any, as might have been determined to be necessary had the District been able to provide sufficient competent evidential matter for the selected expenditures paid for by the Trustee from the debt service fund, the financial statements referred to above present fairly, in all material respects, the financial position of the governmental activities and each major fund of the District, as of September 30, 2018, and the respective changes in financial position thereof for the fiscal year then ended in conformity with accounting principles generally accepted in the United States of America.

Emphasis of Matter

As discussed in Notes 6 and other notes to the basic financial statements, the debt service fund had a deficit fund balance of ($1,431,390) at September 30, 2018. Major landowners within the District failed to pay their share of the current and prior fiscal year assessments. As a result, the District did not have sufficient funds to make certain scheduled debt service payments and, as a result, the payments were not made. The District’s failures to make its scheduled debt service payments when they are due are considered events of default. The District is economically dependent on its major Landowners. Our opinion is not modified with respect to this matter.

Other Matters

Required Supplementary Information

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

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated XXXX, 2019, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on 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.

Report on Other Legal and Regulatory Requirements

We have also issued our report dated XXXX, 2019, on our consideration of the District’s compliance with the requirements of Section 218.415, Florida Statutes, as required by Rule 10.556(10) of the Auditor General of the State of Florida. The purpose of that report is to provide an opinion based on our examination conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.

XXXX, 2019

MANAGEMENT’S DISCUSSION AND ANALYSIS

Our discussion and analysis of Indigo Community Development District, Volusia County, Florida (“District”) provides a narrative overview of the District’s financial activities for the fiscal year ended September 30, 2018. Please read it in conjunction with the District’s Independent Auditor’s Report, basic financial statements, accompanying notes and supplementary information to the basic financial statements.

FINANCIAL HIGHLIGHTS

The liabilities of the District exceeded its assets at the close of the fiscal year ended September 30, 2018 resulting in a (deficit) net position balance of ($6,729,484).

The change in the District’s total net position in comparison with the prior fiscal year was $2,461,030, 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, 2018, the District’s governmental funds reported combined ending fund balances of
$1,756,666, an increase of $2,036,655 in comparison with the prior fiscal year. The total fund balance is non-spendable for prepaid items, restricted for capital projects, unassigned, deficit debt service fund balance, assigned for subsequent year’s expenditures and the remainder is unassigned fund balance which is available for spending at the District’s discretion.

OVERVIEW OF FINANCIAL STATEMENTS

This discussion and analysis are intended to serve as the introduction to the District’s basic financial statements. The District’s basic financial statements are comprised of three components: 1) government- wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.

Government-Wide Financial Statements

The government-wide financial statements are designed to provide readers with a broad overview of the District’s finances, in a manner similar to a private-sector business.

The statement of net position presents information on all the District’s assets, deferred outflows of resources, liabilities, and deferred inflows of resources with the residual amount being reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.

The statement of activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods.

The government-wide financial statements include all governmental activities that are principally supported by special assessment revenues. 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 balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The District maintains three governmental funds for external reporting. Information is presented separately in the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances for the general 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, liabilities exceeded assets at the close of the most recent fiscal year.

Key components of the District’s net position are reflected in the following table:

NET POSITION SEPTEMBER 30,

2018	2017

Current and other assets

$	6,786,579	$

5,076,710

Capital assets, net of depreciation	 	4,144,239	4,417,843 	
Total assets	 	10,930,818	9,494,553 	
Current liabilities	5,366,439	5,650,987	
Long-term liabilities	 	12,293,863	13,034,080 	
Total liabilities	 	17,660,302	18,685,067 	
Net position		
Net investment in capital assets	(8,149,624)	(8,616,237)	
Restricted	147,677	147,339	
Unrestricted	 	1,272,463	(721,616)	
Total net position	  $	(6,729,484)   $	(9,190,514)	

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 District’s net position increased during the most recent fiscal year. The increase was due to the settlement agreement with a major landowner.

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,
2018	2017

Revenues:

Program revenues Charges for services

$	4,738,769 $

2,225,998

Operating grants and contributions	19,709	13,569
Capital grants and contributions	338	226
General revenues
Unrestricted investment earnings	 	6,022	3,177 
Total revenues	 	4,764,838	2,242,970 Expenses:
General government	235,614	202,209
Maintenance and operations	1,193,396	1,153,224
Interest on long-term debt	 	874,798	915,905 
Total expenses	 	2,303,808	2,271,338 
Change in net position	 	2,461,030	(28,368)
Net position - beginning	 	(9,190,514)	(9,162,146)
Net position - ending	 $	(6,729,484)  $	(9,190,514)

As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year ended September 30, 2018 was $2,303,808. The costs of the District’s activities were primarily funded by program revenues. Program revenues, comprised primarily of assessments, increased from the prior fiscal year primarily as a result of collecting a large portion of delinquent assessments during the current fiscal year. Expenditures increased as a result of increased maintenance costs incurred in the current fiscal 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, 2018.

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets
At September 30, 2018, the District had $7,622,700 invested in capital assets for its governmental activities. In the government-wide financial statements depreciation of $3,478,461 has been taken, which resulted in a net book value of $4,144,239. More detailed information about the District’s capital assets is presented in the notes of the financial statements.

Capital Debt
At September 30, 2018, the District had $13,295,000 in Bonds outstanding. 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

As discussed in the notes to the basic financial statements, the debt service fund had a deficit fund balance of ($1,431,390) at September 30, 2018. Major landowners within the District failed to pay their share of the current and prior fiscal year assessments. As a result, the District did not have sufficient funds to make certain scheduled debt service payments and, as a result, the payments were not made. The District’s failures to make its scheduled debt service payments when they are due are considered events of default. The District continues to work with the Trustee, the Bondholders, and the delinquent property owners for the collection of debt service assessments. Due to the cost and other issues surrounding the foreclosure of the delinquent properties, the District continues to take direction from the Trustee and Bondholders. The foreclosure process has been placed on hold.

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 Indigo Community Development District’s Finance Department at 9145 Narcoossee Road, Suite A206, Orlando, Florida 32827.

INDIGO COMMUNITY DEVELOPMENT DISTRICT VOLUSIA COUNTY, FLORIDA
STATEMENT OF NET POSITION SEPTEMBER 30, 2018

	Governmental
 	Activities		
ASSETS		
Cash and cash equivalents	$	330,187	
Investments	2,756,944	
Due from other		
Accounts receivable		
Assessments receivable	8,375	
Prepaid items	18,887	
Restricted assets:		
Investments	3,672,186	
Capital assets:		
Nondepreciable	2,507,717	
Depreciable, net	 	1,636,522 	
Total assets	 	10,930,818 	
LIABILITIES		
Accounts payable	74,014	
Accrued interest payable	336,526	
Due to Bondholders:		
Interest	4,030,899	
Principal	925,000	
Non-current liabilities:		
Due within one year*	495,000	
Due in more than one year	 	11,798,863 	
Total liabilities	 	17,660,302 	
NET POSITION		
Net investment in capital assets	(8,149,624)	
Restricted for capital projects	147,677	
Unrestricted	 	1,272,463 	
Total net position	  $	(6,729,484) 	

* The missed debt service payments due for the Series 1999C and 2005 Bonds are reflected in the due to Bondholders account.

See notes to the financial statements

INDIGO COMMUNITY DEVELOPMENT DISTRICT VOLUSIA COUNTY, FLORIDA STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018

Program Revenues
Charges	Operating	Capital

Net (Expense) Revenue and Changes in Net Position

for		Grants and		Grants and	Governmental Functions/Programs	 Expenses	Services	Contributions	Contributions		Activities	 Primary government:
Governmental activities:
General government	$	235,614	$	235,614	$	-	$	-	$	-	
Maintenance and operations	1,193,396	1,195,776	2,025	338	4,743	
Interest on long-term debt	 	874,798	3,307,379	17,684	-	2,450,265 
Total governmental activities	 	2,303,808	4,738,769	19,709	338	2,455,008 

General revenues:
Unrestricted investment earnings	 	6,022 
Total general revenues	 	6,022 
Change in net position	 	2,461,030 	
Net position - beginning	 	(9,190,514) 	
Net position - ending	  $	(6,729,484) 	

See notes to the financial statements

BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2018

 	Major Funds	
Debt	Capital
General	Service	Projects

Total Governmental Funds

ASSETS		
Cash and cash equivalents	$	330,187	$	-	$	-	$	330,187	
Investments	2,756,944	3,524,509	147,677	6,429,130	
Assessments receivable	8,375	-	-	8,375	
Prepaid items	 	18,887	-	-	18,887 
Total assets	 $   3,114,393	$   3,524,509	$	147,677	$   6,786,579 

LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable	$	74,014	$	-	$	-	$	74,014	
Due to Bondholders	 	-	4,955,899	-	4,955,899 	
Total liabilities	 	74,014	4,955,899	-	5,029,913 	

Fund balances:
Nonspendable:
Prepaid items	18,887	-	-	18,887 Restricted for:
Capital projects	-	-	147,677	147,677 Assigned for:
Subsequent year's expenditures	300,000	-	-	300,000	
Unassigned	 	2,721,492	(1,431,390)	-	1,290,102 	
Total fund balances	 	3,040,379	(1,431,390)	147,677	1,756,666 	

Total liabilities and fund balances	 $   3,114,393	$   3,524,509	$	147,677	$ 6,786,579 

RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION
SEPTEMBER 30, 2018

Total fund balance - governmental funds	$	1,756,666 Amounts reported for governmental activities in the statement of
net position are different because:
Capital assets used in governmental activities are not financial resources, 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	7,622,700
Accumulated depreciation	 (3,478,461)	4,144,239
Liabilities not  due  and  payable  from current available resources are not reported as liabilities in the governmental fund financial statements. All liabilities, both current and long- term, are reported in the government-wide financial statements.
Accrued interest payable	(336,526)	
Bonds payable *	  (12,293,863)	(12,630,389) 	
Net position of governmental activities	  $	(6,729,484) 	
* The missed debt service payments due for the Series 1999C and 2005 Bonds are reflected in the due to Bondholders account.

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018

 	Major Funds		Total

Debt	Capital
General	Service	Projects

Governmental Funds

REVENUES		
Assessments	$	1,515,618	$	3,307,379	$	-	$	4,822,997	
Miscellaneous income	2,025	-	-	2,025	
Interest	 	6,022	17,684	338	24,044 
Total revenues	 	1,523,665	3,325,063	338	4,849,066 

EXPENDITURES
Current:
General government	164,295	71,319	-	235,614
Maintenance	919,792	-	-	919,792 Debt service:
Principal	-	745,000	-	745,000
Interest	 	-	912,005	-	912,005 
Total expenditures	 	1,084,087	1,728,324	-	2,812,411 

Excess (deficiency) of revenues
over (under) expenditures	439,578	1,596,739	338	2,036,655

Fund balances - beginning	 	2,600,801	(3,028,129)	147,339	(279,989) 

Fund balances - ending	 $	3,040,379	$   (1,431,390)	$	147,677	$	1,756,666 

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, 2018

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

(273,604)	
Certain revenues were unavailable for the governmental fund financial statements in the prior fiscal year. In the current fiscal year, these revenues were recorded in the governmental fund financial statements.	

(84,228)	
Expenditures related to debt service payments must be recognized in governmental funds in the period in which they become due, therefore amounts not paid were recorded as a liability in the fund financial statements. The liability has already been recorded on the statement of net position.	

745,000	
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.	

41,990	
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.	

 	(4,783) 	
Change in net position of governmental activities	  $	2,461,030 	

Net change in fund balances - total governmental funds	$	2,036,655 Amounts reported for governmental activities in the statement of activities

NOTES TO FINANCIAL STATEMENTS

NOTE 1 – NATURE OF ORGANIZATION AND REPORTING ENTITY

Indigo Community Development District ("District") was created January 3, 1995 by Rule 42U-1.001 - 1.003, Florida Administrative Code of the Florida Land and Water Adjudicatory Commission, 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 were elected by residents registered to vote within the District through the general election process. The Board of Supervisors of the District exercise all powers granted to the District pursuant to Chapter 190, Florida Statutes.

The Board has the responsibility for, among other responsibilities:
Assessing 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 is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers who purchase, use or directly benefit from goods, services or privileges provided by a given function or segment. Operating-type special assessments for maintenance and debt service are treated as charges for services; and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Other items not included among program revenues are reported instead as general revenues.

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 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 funds:

General Fund
The general fund is the general operating fund of the District. It is used to account for all financial resources except those required to be accounted for in another fund.

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

Capital Projects Fund
This fund accounts for the financial resources to be used for the acquisition or construction of major infrastructure within the District.

As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements.

When both restricted and unrestricted resources are available for use, it is the government’s policy to use restricted resources first for qualifying expenditures, then unrestricted resources as they are needed.

Assets, Liabilities and Net Position or Equity

Restricted Assets
These assets represent cash and investments set aside pursuant to Bond covenants or other contractual restrictions.

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 Inter-local 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 (amount not rounded) and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the date of donation.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed.

Property, plant and equipment of the District are depreciated using the straight-line method over the following estimated useful lives:

Assets	Years	
Entry feature and other improvements	10-20	
Infrastructure	10-30	
In the governmental fund financial statements, amounts incurred for the acquisition of capital assets are reported as fund expenditures. Depreciation expense is not reported in the governmental fund financial statements.

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

Assets, Liabilities and Net Position or Equity (Continued)

Long-Term Obligations
In the government-wide financial statements long-term debt and other long-term obligations are reported as liabilities in the statement of net position. Bond premiums and discounts are deferred and amortized ratably over the life of the Bonds. Bonds payable are reported net of applicable premiums or discounts. Bond issuance costs are expensed when incurred.

In the fund financial statements, governmental fund types recognize premiums and discounts, as well as issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

Deferred Outflows/Inflows of Resources
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.

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.
A public hearing is conducted to obtain public comments.
Prior to October 1, the budget is legally adopted by the District Board.
All budget changes must be approved by the District Board, subject to the District’s appropriation resolution.
The budgets are adopted on a basis consistent with generally accepted accounting principles.
Unused appropriation for annually budgeted funds lapse at the end of the year.

NOTE 4 – DEPOSITS AND INVESTMENTS

Deposits
The District’s cash balances were entirely covered by federal depository insurance or by a collateral pool pledged to the State Treasurer. Florida Statutes Chapter 280, "Florida Security for Public Deposits Act", requires all qualified depositories to deposit with the Treasurer or another banking institution eligible collateral equal to various percentages of the average daily balance for each month of all public deposits in excess of any applicable deposit insurance held. The percentage of eligible collateral (generally, U.S. Governmental and agency securities, state or local government debt, or corporate bonds) to public deposits is dependent upon the depository's financial history and its compliance with Chapter 280. In the event of a failure of a qualified public depository, the remaining public depositories would be responsible for covering any resulting losses.

Investments
The District’s investments were held as follows at September 30, 2018:
 Amortized Cost	Credit Risk	Maturities	
Fidelity Government Portfolio Class III	$	3,397,439	N/A	N/A	
US Bank Money Market Fund	 	3,031,691 	N/A	N/A	
	  $	6,429,130 			

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.

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

These guidelines recognize a three-tiered fair value hierarchy, in order of highest priority, as follows:
Level 1: Investments whose values are based on unadjusted quoted prices for identical investments in active markets that the District has the ability to access;
Level 2: Investments whose inputs - other than quoted market prices - are observable either directly or indirectly; and,
Level 3: Investments whose inputs are unobservable.

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

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

NOTE 5 – CAPITAL ASSETS

Capital asset activity for the fiscal year ended September 30, 2018 was as follows:

Governmental activities
Capital assets, not being depreciated	Beginning	Ending
 	Balance	Additions	Reductions	Balance		
Land and land improvements	  $	2,507,717	$	-	$	-	$	2,507,717 	
Total capital assets, not being depreciated	 	2,507,717	-	-	2,507,717 	
Capital assets, being depreciated Entrance and other improvements	
1,872,969	-	-	1,872,969	
Infrastructure	 	3,242,014	-	-	3,242,014 	
Total capital assets, being depreciated	 	5,114,983	-	-	5,114,983 	
Less accumulated depreciation for: Entrance and other improvements	
1,225,196	151,594	-	1,376,790	
Infrastructure	 	1,979,661	122,010	-	2,101,671 	
Total accumulated depreciation	 	3,204,857	273,604	-	3,478,461 	
Total capital assets, being depreciated, net	 	1,910,126	(273,604)	-	1,636,522 	
Governmental activities capital assets, net	   $	4,417,843	$	(273,604)    $	-	$	4,144,239 	

The District is bifurcated into two distinct development areas known as the North Assessment Area and the South Assessment Area. The District’s Series 1999C funded all of the Community Wide Capital Improvements situated in the North Assessment Area and a portion of the Community Wide Capital Improvements situated in the South Assessment Area. The remaining costs of the Community Wide Capital Improvements for the South Assessment Areas have been estimated at $35 million. A portion of the costs was to be funded with the proceeds from the Series 2005 Bonds (the “2005 Project”) and the remaining costs were to be funded with proceeds from a future bond issuance and by the Developer.

The 2005 Project was originally estimated at $12 million and included roadway, utility, and landscape projects located in the South Assessment Area. However, due to economic reasons, the scope of the project was revised and improvements costing a total of $6,306,958 were declared completed (“2005 Completed Project”) in a prior fiscal year. Also in a prior fiscal year, the series 1999C Project was declared completed. The Series 1999C project was also revised and the total cost of the improvements completed under the Series 1999C Project (“1999C Completed Project”) was approximately $7,183,238. The Engineer certified that the Series 1999C and 2005 Completed Projects will be capable of performing the functions for which they were intended. Due to the default of the series 1999C and 2005 Special Assessments by the Developer and subsequent landowners, the overall timeline for the plan of development has changed and it has been determined that it is economically infeasible to continue expanding the public infrastructure at the present time.

Also in a prior fiscal year, subsequent to the declaration of completion of the 1999C and 2005 projects,
$6,800,000 of excess fund remaining in the Construction Accounts were used to pay down the outstanding principal on Series 2005 Bonds.

Depreciation expense was charged to the maintenance and operations function.

NOTE 6 – LONG-TERM LIABILITIES

At September 30, 2018, the District had Bond issues as follows:

Issue	Original Face	Interest
Series	Date	Amount	Rate	Maturity Capital Improvement Bonds:

Series 1999A	December 20, 1999	$

980,000

7.00%	May 1, 2031

Series 1999C	December 20, 1999	8,515,000	7.00%	May 1, 2030
Series 2005	February 1, 2005	14,710,000	5.75%	May 1, 2036

The Capital Improvement Bonds, Series 1999A, 1999C and 2005A were issued to finance the acquisition and construction of certain improvements for the benefit of the District.

Interest is to be paid semiannually for each Bond series on each May 1 and November 1. Principal is to be paid serially for each Bond series on each May 1.

The Series 1999A, 1999C, and 2005 Bonds are subject to redemption at the option of the District prior to maturity. Each Bond Series is subject to extraordinary mandatory redemption prior to maturity in the manner determined by the Bond Registrar if certain events occurred as outlined in the Bond Indenture.

The Bond Indentures established debt service reserve requirements 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 agreed at the time of issuance to levy special assessments in annual amounts adequate to provide payment of debt service and to meet the reserve requirements and has agreed to collect the same. The Series 1999A debt service reserve requirements were met at September 30, 2018. However, the Series 1999C and 2005 debt service reserve requirements were not met at September 30, 2018.

During the prior and current fiscal years, there were significant delinquent assessments, and, as a result, certain scheduled debt service payments due on the Series 1999C and 2005 during prior fiscal years were made, in part, by draws on the respective debt service reserve account. Also, default related expenses were paid from funds in the debt service reserve accounts. As a result of these payments, there are deficits of approximately $644,000 and $356,000 in the Series 1999C and Series 2005 debt service reserve accounts, respectively. Furthermore, certain scheduled debt service payments due on the Series 1999C and 2005 were not made, resulting in events of default. The amounts due have been reported in the financial statements as Due to Bondholders and reflects unpaid principals of $925,000 for the Series 1999C and unpaid interests of
$1,219,260 and $2,811,639 for the Series 1999C and 2005, respectively.

During the prior fiscal year, the District made principal and interest payments of $65,000 and $490,769, respectively for past due amounts on the Series 1999C Bonds. During the current fiscal year the District made interest payments of $647,221 and $333,181 for the Series 1999C and 2005, respectively. In addition, the District made a principal payment of $875,000 during the current fiscal year for the Series 2005 Bonds.

Long-term Debt Activity
Changes in long-term liability activity for the fiscal year ended September 30, 2018 were as follows:
	Beginning
Balance	
Additions	
Reductions	Ending
Balance	Due Within One
Year	
Governmental activities						
Bonds payable:						
Series 1999 A	$	695,000	$	-	$	30,000	$	665,000	$	35,000	
Series 1999 C	6,660,000	-	-	6,660,000	1,215,000 *	
Series 2005	6,845,000	-	875,000	5,970,000	170,000 *	
Original issue discount	80,920	-	4,783	76,137	-	
Total	$	14,119,080	$	-	$	900,217	$	13,218,863	$	1,420,000	
* Includes the missed debt service payments due for the Series 1999C and 2005 Bonds which were not paid.

At September 30, 2018, the scheduled debt service requirements on the long-term debt were as follows:
Year ending	 	Governmental Activities	
     September 30:	Principal	Interest	Total	
2019	$	1,420,000	*	$	5,082,058	*	$	6,502,058	
2020	525,000	2,659,644	3,184,644	
2021	565,000	697,588	1,262,588	
2022	600,000	662,163	1,262,163	
2023	645,000	624,413	1,269,413	
2024-2028	3,920,000	2,457,100	6,377,100	
2029-2033	3,585,000	1,155,788	4,740,788	
2034-2036	 	2,035,000	329,188	2,364,188 
Total	 $	13,295,000	$	13,667,942	$	26,962,942 

* Includes the missed debt service payments due for the Series 1999C and 2005 Bonds which were not paid.

NOTE 7 – ASSESSMENTS

Agreement between the District and GC Land LLC
During a prior fiscal year, the District entered into an agreement with GC Land LLC (“GC Land”), a landowner, regarding the payment of past due O&M on parcels identified as NW-21 and SW-28 that were previously direct-billed in fiscal years 2010 and 2011. According to the Agreement, past due O&M assessments on NW- 21 and SW-28 were $117,680 and $46,931, respectively. The amount due on NW-21 is net of a $35,000 payment that was made prior to the execution of the agreement. Pursuant to the Agreement, GC Land agreed to make monthly payments of $3,000 toward NW-21 beginning July 31, 2015 until the earlier of the payment of
$25,000 or the sale of the NW-21. If the $25,000 is paid before the closing of NW-21, the remaining $92,680 balance (the “Deferred Amount”) will be deferred until the closing and sale of SW-28. If SW-28 is not sold by April 30, 2016, GC Land will recommence paying the monthly installment payments to reduce the Deferred Amount. GC Land also agreed to pay any remaining balance of the Deferred Amount plus any current and future unpaid O&M related to SW-28 upon the closing of SW-28. The District has utilized the uniform method to collect O&M assessments for NW-21 and SW-28 since 2012. Also pursuant to the agreement, the District, with the consent of the Bondholders, agreed to waive all late fees, penalties, and interest related to the past due O&M and debt service assessments on the parcels.

In accordance with the agreement and in addition to the $35,000 payment mentioned above, GC Land paid to the District a total of $63,000 during prior fiscal years and $XXXX during the current fiscal year. As of September 30, 2018, the District is owed $XXXX pursuant to the agreement. As of the report date, SW-28 was sold via tax deed sale and is no longer owned by GC Land.

Settlement Agreement with Cardinal Servicing Company, LLC
During the current fiscal year, the District entered into a settlement agreement with a new Landowner, Cardinal Servicing Company, LLC (“Cardinal”) whereby Cardinal would pay the District for a portion of the past due assessments on the lots owned and make the delinquent assessments on such lots current. Pursuant to the agreement, the District collected delinquent assessments for the general and 1999C and 2005 debt service funds in the amounts of $411,175, $1,560,963, and $1,268,988, respectively.

NOTE 8 – CONCENTRATION

A significant portion of the District’s activity is dependent upon the continued involvement of the major landowners. As such, the nonpayment of assessments by some of the major landowners in the prior, current, and subsequent fiscal years has resulted in the deterioration of the District’s financial conditions.

NOTE 9 – MANAGEMENT AGREEMENTS

The District has contracted with management companies to perform management advisory services, which include financial and accounting services, and field management services. Certain employees of one of the management companies also serve as officers of the District. Under the agreements, the District compensates one of the management companies for management, accounting, financial reporting, computer and other administrative costs and the other management company for field operations management services.

NOTE 10 – 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 11 – LITIGATION

In a prior fiscal year, the Board of Supervisors of the District authorized the foreclosure of certain parcels currently owned by GC Land, LLC, HW CGC Investment Land LLC, and other Landowners for nonpayment of Special assessments as it relates to the District Series 1999C and 2005 Bonds and operating and maintenance assessments for fiscal years 2009 – 2012. During the 2015 fiscal year, The Board of Supervisors entered into an agreement related to specific lands owned by GC Land, LLC in regards to delinquent O&M assessments (see Note 7). The parcels subject to the agreement are NW-21 and SW-28 and as such are secured by title to the lands being held in escrow. If certain payments are not made by GC Land, the title for the parcels will be provided to the District. The Trustee and the Bondholders have been informed of the agreement and at this time have not wanted the District to move forward with foreclosure on lands with delinquent debt service assessments. No adjustment has been made to the financial statements as the impact on the District cannot be determined at this time since it is unclear how events will unfold.

During the current fiscal year, the District was served with a Complaint to Quiet Title to Real Property. The plaintiff acquired the subject property (generally known as SW 28) via tax deed sale, and seeks to extinguish any interest the District may have in the property. The District’s alleged interest in the property relates to a mortgage it holds to secure the payment of certain delinquent operation and maintenance assessments under the Agreement Regarding Payment of District Operation and Maintenance Assessments Related to Parcels NW-21 and SW-28. During the current fiscal year, the District was dropped as a party to the lawsuit.

Missed Debt Service Payments
Subsequent to fiscal year end, certain scheduled debt service payments were due on the Series 1999C and 2005 Bonds. However, shortfalls in the collection of special assessments caused there to be insufficient amounts available to fully fund these scheduled debt service payments. As a result, the Series 1999C and 2005 debt service payments due on November 1, 2018 were not made. The failure by the District to pay its debt service is considered an event of default.

Settlement Agreement with SW-30 Investments, LLC
Subsequent to fiscal year end, the District entered a settlement agreement with SW-30 Investments, LLC (“American”) which recently took ownership of delinquent parcels 30 and 32. Pursuant to the agreement, the District received delinquent assessments on such parcels from American as follows: $33,890 for Series 1999C debt assessments, $69,094 of Series 2005 debt assessments, and $65,000 for O&M assessments. The District also received $9,500 for currently due O&M assessments. The remaining delinquent O&M assessments on the parcels were forgiven while the remaining delinquent debt assessments were assumed by American excluding all penalties and past due accrued and unpaid interest on such debt assessments which was waived. The District also agreed to forbear on the foreclosure of delinquent parcels as long American remains current on its obligations per the agreement.

Payment of Past Due Interest
Subsequent to fiscal year end, the District paid past due interest on the Series 1999C Bonds in the amount of
$1,447,285.

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018

	
Budgeted
 	Amounts	 Original & Final	

Actual Amounts	Variance with Final Budget - Positive
(Negative)	
REVENUES
Assessments	
$	989,768	
$	1,515,618	
$	525,850	
Miscellaneous revenue	8,100	2,025	(6,075)	
Interest	 	1,000	6,022	5,022 
Total revenues	 	998,868	1,523,665	524,797 

EXPENDITURES
Current:
General government	176,343	164,295	12,048
Maintenance	 	925,586	919,792	5,794 
Total expenditures	 	1,101,929	1,084,087	17,842 

Excess (deficiency) of revenues
over (under) expenditures	(103,061)	439,578	542,639

OTHER FINANCING SOURCES (USES)
Carryforward	 	103,061	-	(103,061) Total other  financing sources (uses)	 	103,061	-	(103,061) 

Net change in fund balance	  $	-		439,578	$	439,578	

Fund balance - beginning		
 	2,600,801 		
Fund balance - ending		  $	3,040,379 		

See notes to required supplementary information

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, 2018.

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
Indigo Community Development District Volusia 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 Indigo Community Development District, Volusia County, Florida (“District”) as of and for the fiscal year ended September 30, 2018, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our opinion thereon dated XXXX, 2019, which includes an explanatory paragraph regarding the modified opinion for the debt service fund due to the lack of sufficient competent evidential matter, and an emphasis of matter paragraph.

Internal Control Over Financial Reporting

In planning and performing our audit of the financial statements, we considered the District’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.

Compliance and Other Matters

As part of obtaining reasonable assurance about whether the District’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

We noted certain matters that we reported to management of the District in a separate letter dated XXXX, 2019.

The District's responses to the findings identified in our audit are described in the accompanying Management Letter. We did not audit the District's responses and, accordingly, we express no opinion on them.

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.

XXXX, 2019

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
Indigo Community Development District Volusia County, Florida

We have examined Indigo Community Development District, Volusia 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, 2018. Management is responsible for 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.

In our opinion, the District complied, in all material respects, with the aforementioned requirements for the fiscal year ended September 30, 2018.

This report is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, management, and the Board of Supervisors of Indigo Community Development District, Volusia County, Florida and is not intended to be and should not be used by anyone other than these specified parties.

XXXX, 2019

MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL FOR THE STATE OF FLORIDA

To the Board of Supervisors
Indigo Community Development District Volusia County, Florida

Report on the Financial Statements

We have audited the accompanying basic financial statements of Indigo Community Development District ("District") as of and for the fiscal year ended September 30, 2018, and have issued our report thereon dated XXXX, 2019, which includes an explanatory paragraph regarding the modified opinion for the debt service fund due to the lack of sufficient competent evidential matter, and an emphasis of matter paragraph.

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 XXXX, 2019, 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 the District and the Auditor General of the State of Florida and is not intended to be and should not be used by anyone other than these specified parties.

We wish to thank Indigo Community Development District, Volusia 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.

XXXX, 2019

REPORT TO MANAGEMENT

CURRENT YEAR FINDINGS AND RECOMMENDATIONS 2018-01: Financial Condition Assessment
Observation: The District’s financial conditions continue to deteriorate. The debt service fund had a deficit fund balance of ($1,431,390) at September 30, 2018. In the prior, current, and subsequent fiscal years, major landowners in the District failed to pay significant portions of their assessments. As a result, certain debt service payments were not made. In addition, the District has not met the debt service reserve requirement. The non-payment of interest and principal payments, when due, are considered events of default. The District is economically dependent on the major landowners of the District. Furthermore, the title work necessary to commence foreclosure proceedings has been completed, but a foreclosure complaint has not yet been filed by the District.

Recommendation: The District should take the necessary steps to alleviate the deteriorating financial condition.

Reference Numbers for Prior Year Findings: 2017-01, 2016-01, 2015-01, 2014-01, 2013-2, 2012-02,
2011-02

Management Response: The District continues to work with the Trustee, the Bondholders, and the land owners of delinquent properties for the collection of debt service assessments. Due to the cost and other issues surrounding the foreclosure of the delinquent assessment properties, the District continue to take direction from the Trustee and the Bondholders. At this time the foreclosure process is on hold.

PRIOR YEAR FINDINGS AND RECOMMENDATIONS 2017-01: Financial Condition Assessment
Current Status: See finding 2018-01 above.

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, 2017, except as noted above.

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, 2018, except as noted above.

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, 2018, except as noted above.

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

REPORT TO MANAGEMENT (Continued)

III. COMPLIANCE WITH THE PROVISIONS OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
(Continued)

In connection with our audit, we determined that the District has met one or more of the financial emergency conditions described in Section 218.503(1), Florida Statutes. The District failed to make certain scheduled debt service payments due on the Series 1999C and 2005 Bonds, as a result of a lack of funds. We applied financial condition assessment procedures pursuant to Rule 10.556(7) and determined that a deteriorating financial condition was noted. See Findings section above for additional information. 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.

SIXTH ORDER OF BUSINESS

RESOLUTION 2019-02

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE INDIGO COMMUNITY DEVELOPMENT DISTRICT APPROVING PROPOSED BUDGETS FOR FISCAL YEAR 2019/2020 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW; ADDRESSING TRANSMITTAL, POSTING AND PUBLICATION REQUIREMENTS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has heretofore prepared and submitted to the Board of Supervisors (“Board”) of the Indigo Community Development District (“District”) prior to June 15, 2019, proposed budgets (“Proposed Budget”) for the fiscal year beginning October 1, 2019 and ending September 30, 2020 (“Fiscal Year 2019/2020”); 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 INDIGO COMMUNITY DEVELOPMENT DISTRICT:

PROPOSED BUDGET APPROVED. The Proposed Budget prepared by the District Manager for Fiscal Year 2019/2020 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:	 	, 2019

HOUR:	 	

LOCATION:	 	

TRANSMITTAL OF PROPOSED BUDGET TO LOCAL GENERAL PURPOSE GOVERNMENTS. The District Manager is hereby directed to submit a copy of  the Proposed Budget to the City of Daytona Beach and Volusia 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 22nd DAY OF MAY, 2019.

ATTEST:	INDIGO COMMUNITY
DEVELOPMENT DISTRICT

By: 	

Secretary	Its: 	

SEVENTH ORDER OF BUSINESS

C.

April 16, 2019

Lisa Lewis
Suyervisor of Tfectums
County of Yofusia

Ms. Courtney Hogge, Secretary
Indigo Community Development District 475 West Town Place, Suite 114
St. Augustine, Florida 32092

Dear Ms. Hogge:

Please accept this letter regarding the number of registered voters within the boundaries of Indigo Community Development District. There are 1,776 registered voters in this district as of April 15, 2019.

Please feel free to contact me if you have any questions or additional information is needed.

Regards,
Lisa Lewis
Supervisor of Elections

Histo r ic Courthouse
125 West New York Avenue, DeLan d, FL 32720-5415
(386) 736-5930 • (386) 254-4690 •  (386)  423-3311 •	FAX (386) 822-5715
www.voIusiaeIect ions.org

If your signature has changed, please update your signature by comp leting a new Florida vote r registra tion app lication.
It is important to keep your signature updated, so that ballots and/or petition signatures can be counted.

NINTH ORDER OF BUSINESS

Indigo
Community Development District
Summary of Invoices

March 19, 2019 to May 15, 2019

Fund	Date	Check No.'s	Amount		
General Fund	3/22/19	4395-4396	$	451.67	
3/28/19	4397-4398	$	43,732.00	
4/5/19	4399-4404	$	17,797.06	
4/12/19	4405	$	385.00	
4/23/19	4406-4410	$	47,087.24	
5/3/19	4411-4417	$	25,391.03	
5/10/19	4418-4419	$	3,885.00	
			$	138,729.00	
Payroll	March 2019
Donald Parks	
50502	
$	184.70	
	John McCarthy	50503	$	184.70	
	Mark McCommon	50504	$	159.70	
	Robert Welsh	50505	$	164.70	
	Thomas Leek	50506	$	184.70	
			$	878.50	
			$	139,607.50	

TENTH ORDER OF BUSINESS

Indigo
Community Development District

Unaudited Financial Reporting April 30, 2019

Table of Contents

1	 	Balance Sheet	

2-3	
 	General Fund Income Statement	

4	
 	Debt Service Fund Series 1999A Income Statement	

5	
 	Debt Service Fund Series 1999C Income Statement	

6	
 	Debt Service Fund Series 2005 Income Statement	

7	
 	Capital Projects Fund Series 1999A Income Statement	

8-9	
 	Month to Month	

10	
 	Assessment Receipt Schedule	

Indigo
Community Development District

Assets	

General 	Governmental Funds

Debt Service	

Capital Projects	Account Groups General
Fixed Assets	
General Long- Term Debt	Totals  (memorandum only) 2019	
Cash	$63,285	----	----	----	----	$63,285	
Assessment Receivable	$3,000	----	----	----	----	$3,000	
Prepaid Expense	$500	----	----	----	----	$500	
Investments							
Operating Account	$3,028,678	----	----	----	----	$3,028,678	
Reserve Account	$109,850	----	----	----	----	$109,850	
Series 1999A							
Reserve Account	----	$80,675	----	----	----	$80,675	
Revenue Account	----	$93,188	----	----	----	$93,188	
Construction	----	----	$147,935	----	----	$147,935	
Reserve Account	----	$59,586	----	----	----	$59,586	
Revenue Account	----	$556,638	----	----	----	$556,638	
Redemption Account	----	$339	----	----	----	$339	
Remedial Expenditure	----	$0	----	----	----	$0	
Reserve Account	----	$59,154	----	----	----	$59,154	
Escrow Deposit Fund	----	$9,676	----	----	----	$9,676	
Prepayment Account	----	$1,978	----	----	----	$1,978	
Revenue Account	----	$1,903,427	----	----	----	$1,903,427	
Remedial Expenditure	----	$0	----	----	----	$0	
Fixed Assets	----	----	----	$8,305,270	----	$8,305,270	
Amount Available/Long-Term Debt	----	----	----	----	$2,764,662	$2,764,662	
Amount to be Provided/Long Term Debt 1999A	----	----	----	----	$546,137	$546,137	
Amount to be Provided/Long Term Debt 1999C	----	----	----	----	$6,043,436	$6,043,436	
Amount to be Provided/Long Term Debt 2005	----	----	----	----	$3,995,765	$3,995,765	
Total Assets	$3,205,313	$2,764,662	$147,935	$8,305,270	$13,350,000	$27,773,179	

Liabilities							
Accounts Payable	$20,579	----	----	----	----	$20,579	
Accrued Principal Payment 1999C	----	$655,000	----	----	----	$655,000	
Accrued Principal Payment 2005	----	$270,000	----	----	----	$270,000	
Accrued Interest Payment 2005	----	$2,811,639	----	----	----	$2,811,639	
Bonds Payable 1999A	----	----	----	----	$720,000	$720,000	
Bonds Payable 1999C	----	----	----	----	$6,660,000	$6,660,000	
Bonds Payable 2005	----	----	----	----	$5,970,000	$5,970,000	
Fund Equity, Other Credits							
Investments in General Fixed Assets	----	----	----	$8,305,270	----	$8,305,270	
Fund Balances							
Restricted for Debt Service 1999A/B	----	$173,863	----	----	----	$173,863	
Restricted for Debt Service 1999C	----	($38,436)	----	----	----	($38,436)	
Restricted for Debt Service 2005	----	($1,107,404)	----	----	----	($1,107,404)	
Restricted for Capital Projects 1999A/B	----	----	$147,935	----	----	$147,935	
Assigned for General Fund	$109,850					$109,850	
Unassigned General Fund	$3,074,884	----	----	----	----	$3,074,884	
Total Liabilities, Fund Equity	$3,205,313	$2,764,662	$147,935	$8,305,270	$13,350,000	$27,773,179	

Combined Balance Sheet As of April 30, 2019

Series 1999C

Series 2005

1

As of April 30, 2019

	General Fund
Budget	Prorated Budget
4/30/19	Actual
4/30/19	
Variance	
REVENUES:					
Maintenance Assessments	$801,579	$801,579	$616,593	($184,986)	
Settlement Agreement	$0	$0	$74,500	$74,500	
Miscellaneous Income	$0	$0	$4,294	$4,294	
City of Daytona Funding	$8,100	$4,725	$0	($4,725)	
Interest Income	$1,000	$583	$5,117	$4,534	
TOTAL REVENUES	$810,679	$806,887	$700,504	($106,384)	

EXPENDITURES:					
ADMINISTRATIVE:					
Supervisor Fees	$12,000	$7,000	$5,000	$2,000	
FICA Expense	$918	$536	$383	$153	
Engineering	$5,000	$2,917	$0	$2,917	
Attorney	$32,000	$18,667	$8,370	$10,296	
Annual Audit	$5,000	$5,000	$5,000	$0	
Arbitrage	$1,350	$1,350	$1,350	$0	
Trustee	$3,800	$3,800	$4,089	($289)	
Dissemination Agent	$3,100	$1,808	$1,750	$58	
Special Assessment Roll Preparation	$20,000	$20,000	$20,000	$0	
Management Fees	$56,500	$32,958	$32,958	$0	
Information Technology	$2,800	$1,633	$3,883	($2,250)	
Telephone	$300	$175	$102	$73	
Postage	$1,500	$875	$305	$570	
Insurance	$20,300	$20,300	$18,387	$1,913	
Printing & Binding	$1,500	$875	$741	$134	
Legal Advertising	$2,500	$1,458	$875	$584	
Other Current Charges	$1,000	$583	$318	$265	
Office Supplies	$350	$204	$93	$111	
Foreclosure Costs	$0	$0	$6,111	($6,111)	
Dues, Licenses, Subscriptions	$175	$175	$175	$0	
Office Expense	$6,000	$3,500	$3,500	$0	
TOTAL ADMINISTRATIVE	$176,093	$123,815	$113,390	$10,424	

FIELD:					
Operating Expenses I-95
Landscape Maintenance	
$50,400	
$29,400	
$29,400	
($0)	
Landscape Contingency	$2,000	$1,167	$365	$802	
Irrigation Repairs & Maintenance	$10,000	$5,833	$0	$5,833	
Mowing	$8,100	$4,725	$0	$4,725	
Lakes	$5,156	$3,008	$2,680	$328	
Plant Replacement & Annuals	$8,000	$4,667	$550	$4,117	
Utilities	$12,000	$7,000	$8,037	($1,037)	
Repairs	$10,000	$5,833	$2,929	$2,904	
Miscellaneous	$2,000	$1,167	$747	$419	
Operating Expenses I-95	$107,656	$62,799	$44,709	$18,091	

	General Fund	Prorated Budget	Actual		
	Budget	4/30/19	4/30/19	Variance	

Operating Expenses Community Wide					
Site Manager	$31,800	$18,550	$18,550	$0	
Landscape Maintenance	$462,084	$269,549	$244,349	$25,200	
Landscape Contingency	$26,912	$15,699	$3,675	$12,024	
Irrigation Repairs & Maintenance	$30,000	$17,500	$8,168	$9,332	
Lakes	$37,212	$21,707	$21,707	$0	
Plant Replacement & Annuals	$35,000	$20,417	$450	$19,967	
Utilities	$45,000	$26,250	$20,542	$5,708	
Repairs	$65,972	$38,484	$35,591	$2,892	
Stormwater System	$3,750	$2,188	$0	$2,188	
Sidewalks	$3,000	$1,750	$0	$1,750	
Street Lighting	$0	$0	$0	$0	
Miscellaneous	$15,000	$8,750	$4,739	$4,011	
Conservation Easement Maintenance	$28,000	$16,333	$15,078	$1,255	
Tree Trimming	$43,200	$25,200	$25,200	$0	
Operating Expenses Community Wide	$826,930	$482,376	$398,049	$84,327	
					
TOTAL FIELD	$934,586	$545,175	$442,758	$102,417	
					
TOTAL EXPENDITURES	$1,110,679	$668,990	$556,148	$112,842	

EXCESS REVENUES/	

(EXPENDITURES) AND OTHER SOURCES	($300,000)	-----	$144,356	-----	
FUND BALANCE - BEGINNING	$300,000	-----	$3,040,378	-----	

FUND BALANCE - ENDING	
$0	
-----	
$3,184,734	
-----	

Series 1999A
Statement of Revenues & Expenditures As of April 30, 2019

	Debt Service
Budget	Prorated Budget
4/30/19	Actual
4/30/19	
Variance	
REVENUES:					
Special Assessments	$80,675	$80,675	$69,818	($10,857)	
Interest Income	$0	$0	$250	$250	
TOTAL REVENUES	$80,675	$80,675	$70,069	($10,606)	

EXPENDITURES:					
Interest Expense - 11/01	$23,275	$23,275	$23,275	$0	
Principal Expense - 5/01	$35,000	$0	$0	$0	
Interest Expense - 5/01	$23,275	$0	$0	$0	
TOTAL EXPENDITURES	$81,550	$23,275	$23,275	$0	

OTHER SOURCES/(USES)					
Other Debt Service Costs	$0	$0	$0	$0	
TOTAL OTHER	$0	$0	$0	$0	

EXCESS REVENUES/					
(EXPENDITURES) AND OTHER SOURCES	($875)	-----	$46,794	-----	

FUND BALANCE - BEGINNING	
$43,489	
-----	
$127,070	
-----	

FUND BALANCE - ENDING	
$42,614	
-----	
$173,863	
-----	

Fund Balance Calculation		
Reserve Account	$80,675	
Revenue Account	 	$93,188 	
Total Series 1999A Funds Available	 	$173,863 	

Series 1999C
Statement of Revenues & Expenditures As of April 30, 2019

	Debt Service
Budget	Prorated Budget
4/30/19	Actual
4/30/19	
Variance	
REVENUES:					
Special Assessments - Tax Collector	$301,980	$301,980	$340,759	$38,779	
Settlement Agreement	$0	$0	$33,890	$33,890	
Interest Income	$0	$0	$19,213	$19,213	
TOTAL REVENUES	$301,980	$301,980	$393,862	$91,882	

EXPENDITURES:					
Debt Service Obligation	$301,980	$301,980	$228,026	$73,954	
TOTAL EXPENDITURES	$301,980	$301,980	$228,026	$73,954	

OTHER SOURCES/(USES)					
Other Debt Service Costs	$0	$0	($29,760)	($29,760)	
TOTAL OTHER	$0	$0	($29,760)	($29,760)	
EXCESS REVENUES					
(EXPENDITURES) AND OTHER SOURCES	$0	-----	$136,076	-----	
FUND BALANCE - BEGINNING	$0	-----	($174,512)	-----	

FUND BALANCE - ENDING	
$0	
-----	
($38,436)	
-----	

Fund Balance Calculation		
Reserve Account	$59,586	
Revenue Account	$556,638	
Redemption Account	$339	
Remedial Expenditure	$0	
Accrued Principal Payable	 	($655,000) 	
Total Series 1999C Funds Available	 	($38,436) 	

Special Assessments - Tax Collector	$87,804	$219,140	$219,140	$0	
Settlement Agreement	$0	$0	$69,094	$69,094	
Interest Income	$0	$0	$19,132	$19,132	
TOTAL REVENUES	$87,804	$219,140	$307,366	$88,226	

EXPENDITURES:					
Debt Service Obligation	$87,804	$0	$0	$0	
Special Call - 6/15	$0	$0	$0	$0	
TOTAL EXPENDITURES	$87,804	$0	$0	$0	

OTHER SOURCES/(USES)					
Other Debt Service Costs	$0	$0	($30,822)	($30,822)	
TOTAL OTHER	$0	$0	($30,822)	($30,822)	

EXCESS REVENUES	 	
(EXPENDITURES) AND OTHER SOURCES	$0	-----	$276,544	-----

FUND BALANCE - BEGINNING	$0	-----	($1,383,948)	-----	

FUND BALANCE - ENDING	
$0	
-----	
($1,107,404)	
-----	

Fund Balance Calculation		
Reserve Account	$59,154	
Escrow Deposit Fund	$9,676	
Prepayment Account	$1,978	
Revenue Account	$1,903,427	
Remedial Expenditure	$0	
Accrued Interest Payable	($2,811,639)	
Accrued Principal Payable	 	($270,000) 	
Total Series 2005 Funds Available	 	($1,107,404) 	

INDIGO
COMMUNITY DEVELOPMENT DISTRICT
CAPITAL PROJECTS FUND
Series 1999A
Statement of Revenues & Expenditures
As of April 30, 2019

	Capital Projects	Prorated Budget	Actual		
	Budget	4/30/19	4/30/19	Variance	
REVENUES:					
Interest Income	$0	$0	$258	$258	
TOTAL REVENUES	$0	$0	$258	$258	

EXPENDITURES:					
Capital Outlay	$0	$0	$0	$0	
TOTAL EXPENDITURES	$0	$0	$0	$0	

EXCESS REVENUES	
 					
(EXPENDITURES)	$0	$0	$258	$258	
FUND BALANCE - BEGINNING	$0	-----	$147,677	-----	

FUND BALANCE - ENDING	
$0	
-----	
$147,935	
-----	

Month to Month Income Statement FY2019

	October	November	December	January	February	March	April	May	June	July		August	September	Total	
REVENUES:															
Maintenance Assessments	$0	$99,341	$329,698	$14,972	$7,655	$3,507	$161,420	$0		$0	$0	$0	$0	$616,593	
Settlement Agreement	$0	$0	$0	$0	$74,500	$0	$0	$0		$0	$0	$0	$0	$74,500	
Miscellaneous Income	$0	$4,275	$0	$19	$0	$0	$0	$0		$0	$0	$0	$0	$4,294	
City of Daytona Funding	$0	$0	$0	$0	$0	$0	$0	$0		$0	$0	$0	$0	$0	
Interest Income	$680
.	$704	$687	$761	$790	$712	$783	$0		$0	$0	$0	$0	$5,117	
TOTAL REVENUES	$680	$104,319	$330,385	$15,753	$82,945	$4,218	$162,203	$0		$0	$0	$0	$0	$700,504	

EXPENDITURES:															
ADMINISTRATIVE:															
Supervisor Fees	$3,000	$0	$1,000	$0	$0	$1,000	$0	$0		$0	$0	$0	$0	$5,000	
FICA Expense	$230	$0	$77	$0	$0	$77	$0	$0		$0	$0	$0	$0	$383	
Engineering	$0	$0	$0	$0	$0	$0	$0	$0		$0	$0	$0	$0	$0	
Attorney	$3,274	$384	$1,797	$804	$731	$1,382	$0	$0		$0	$0	$0	$0	$8,370	
Annual Audit	$0	$0	$1,500	$3,500	$0	$0	$0	$0		$0	$0	$0	$0	$5,000	
Arbitrage	$0	$0	$0	$0	$1,350	$0	$0	$0		$0	$0	$0	$0	$1,350	
Trustee	$0	$0	$0	$4,089	$0	$0	$0	$0		$0	$0	$0	$0	$4,089	
Dissemination Agent	$250	$250	$250	$250	$250	$250	$250	$0		$0	$0	$0	$0	$1,750	
Special Assessment Roll Preparation	$20,000	$0	$0	$0	$0	$0	$0	$0		$0	$0	$0	$0	$20,000	
Management Fees	$4,708	$4,708	$4,708	$4,708	$4,708	$4,708	$4,708	$0		$0	$0	$0	$0	$32,958	
Information Technology	$233	$233	$233	$233	$2,483	$233	$233	$0		$0	$0	$0	$0	$3,883	
Telephone	$28	$24	$42	$0	$9	$0	$0	$0		$0	$0	$0	$0	$102	
Postage	$93	$4	$102	$15	$8	$60	$24	$0		$0	$0	$0	$0	$305	
Insurance	$18,387	$0	$0	$0	$0	$0	$0	$0		$0	$0	$0	$0	$18,387	
Printing & Binding	$465	$142	$0	$64	$14	$9	$47	$0		$0	$0	$0	$0	$741	
Legal Advertising	$233	$409	$0	$0	$0	$233	$0	$0		$0	$0	$0	$0	$875	
Other Current Charges	$51	$40	$39	$51	$54	$34	$50	$0		$0	$0	$0	$0	$318	
Office Supplies	$23	$23	$1	$23	$1	$0	$23	$0		$0	$0	$0	$0	$93	
Foreclosure Costs	$0	$0	$0		$2,300	$3,811	$0	$0		$0	$0	$0	$0	$6,111	
Dues, Licenses, Subscriptions	$175	$0	$0	$0	$0	$0	$0	$0		$0	$0	$0	$0	$175	
Office Expense	$500	$500	$500	$500	$500	$500	$500	$0		$0	$0	$0	$0	$3,500	
TOTAL ADMINISTRATIVE	$51,649	$6,715	$10,249	$14,238	$12,406	$12,298	$5,835	$0		$0	$0	$0	$0	$113,390	

Month to Month Income Statement FY2019

	October	November	December	January	February	March	April	May	June	July		August	September	Total	

FIELD:															
Operating Expenses I-95
Landscape Maintenance	
$4,200	
$4,200	
$4,200	
$4,200	
$4,200	
$4,200	
$4,200	
$0		
$0	
$0	
$0	
$0	
$29,400	
Landscape Contingency	$0	$0	$0	$0	$0	$365	$0	$0		$0	$0	$0	$0	$365	
Irrigation Repairs & Maintenance	$0	$0	$0	$0	$0	$0	$0	$0		$0	$0	$0	$0	$0	
Mowing	$0	$0	$0	$0	$0	$0	$0	$0		$0	$0	$0	$0	$0	
Lakes	$370	$385	$385	$385	$385	$385	$385	$0		$0	$0	$0	$0	$2,680	
Plant Replacement & Annuals	$0	$0	$550	$0	$0	$0	$0	$0		$0	$0	$0	$0	$550	
Utilities	$628	$657	$969	$1,091	$0	$1,201	$3,490	$0		$0	$0	$0	$0	$8,037	
Repairs	$1,322	$85	$45	$904	$45	$85	$443	$0		$0	$0	$0	$0	$2,929	
Miscellaneous	$91	$109	$109	$109	$109	$109	$109	$0		$0	$0	$0	$0	$747	
OPERATING EXPENSES I-95	$6,611	$5,436	$6,259	$6,689	$4,739	$6,346	$8,628	$0		$0	$0	$0	$0	$44,709	

	October	November	December	January	February	March	April	May		June		July		August		September	Total	
Operating Expenses Community Wide																		
Site Manager	$2,650	$2,650	$2,650	$2,650	$2,650	$2,650	$2,650		$0		$0		$0		$0	$0	$18,550	
Landscape Maintenance	$34,907	$34,907	$34,907	$34,907	$34,907	$34,907	$34,907		$0		$0		$0		$0	$0	$244,349	
Landscape Contingency	$525	$525	$525	$525	$525	$525	$525		$0		$0		$0		$0	$0	$3,675	
Irrigation Repairs & Maintenance	$726	$1,855	$778	$1,138	$0	$3,672	$0		$0		$0		$0		$0	$0	$8,168	
Lakes	$3,101	$3,101	$3,101	$3,101	$3,101	$3,101	$3,101		$0		$0		$0		$0	$0	$21,707	
Plant Replacement & Annuals	$450	$0	$0	$0	$0	$0	$0		$0		$0		$0		$0	$0	$450	
Utilities	$2,604	$3,003	$3,193	$3,210	$2,885	$2,873	$2,775		$0		$0		$0		$0	$0	$20,542	
Repairs	$6,144	$2,984	$19,446	$2,159	$815	$852	$3,192		$0		$0		$0		$0	$0	$35,591	
Stormwater System	$0	$0	$0	$0	$0	$0	$0		$0		$0		$0		$0	$0	$0	
Sidewalks	$0	$0	$0	$0	$0	$0	$0		$0		$0		$0		$0	$0	$0	
Street Lighting	$0	$0	$0	$0	$0	$0	$0		$0		$0		$0		$0	$0	$0	
Miscellaneous	$2,734	$109	$109	$109	$109	$1,458	$109		$0		$0		$0		$0	$0	$4,739	
Conservation Easement Maintenance	$0	$0	$7,642	$0	$0	$0	$7,436		$0		$0		$0		$0	$0	$15,078	
Tree Trimming	$3,600	$3,600	$3,600	$3,600	$3,600	$3,600	$3,600		$0		$0		$0		$0	$0	$25,200	
OPERATING EXPENSES COMMUNITY WIDE	$57,441	$52,734	$75,952	$51,399	$48,592	$53,637	$58,295		$0		$0		$0		$0	$0	$398,049	
																		
TOTAL EXPENDITURES	$115,701	$64,885	$92,459	$72,326	$65,738	$72,280	$72,759		$0		$0		$0		$0	$0	$556,148	
																		
EXCESS REVENUES/ (EXPENDITURES)	($115,021)	$39,434	$237,926	($56,573)	$17,207	($68,061)	$89,444		$0		$0		$0		$0	$0	$144,356	

INDIGO COMMUNITY DEVELOPMENT DISTRICT
ASSESSMENT RECEIPTS - FY2019

TAX COLLECTOR

UNITS
NET TAX ROLL ASSESSED	4,912.20	$	811,694.98	$ 79,064.20	$ 541,406.55	$	213,013.95	$ 1,645,179.68	

TAX ROLL RECEIVED	RECEIPTS	O&M	1999A	1999C	2005A	REVENUE	
-
11/19/18	$ 80,848.96	$ 67,993.62	$ 2,548.73	$	9,166.53	$	1,140.08	$ 80,848.96	
11/30/18	$ 66,523.93	$ 31,347.04	$ 6,962.50	$ 23,705.11	$	4,509.28	$ 66,523.93	
11/13/18	$	9,626.20	$	6,129.07	$	-	$	3,497.13	$	-	$	9,626.20	
12/5/18	$ 293,387.27	$ 145,977.67	$ 19,005.35	$ 97,098.10	$ 31,306.15	$ 293,387.27	
12/14/18	$ 345,292.29	$ 170,030.38	$ 33,043.21	$ 111,148.09	$ 31,070.61	$ 345,292.29	
12/27/18	$ 10,744.40	$	7,560.74	$	226.18	$	1,539.54	$	1,417.94	$ 10,744.40	
1/11/19	$	6,643.40	$	2,869.94	$	777.88	$	2,426.06	$	569.52	$	6,643.40	
1/14/19	$ 12,924.60	$	6,048.08	$ 1,033.06	$	3,780.99	$	2,062.47	$ 12,924.60	
1/23/19	$ 12,179.32	$	6,054.36	$ 1,524.21	$	4,462.69	$	138.06	$ 12,179.32	
2/5/19	$ 13,159.65	$	6,080.15	$ 1,382.20	$	4,261.74	$	1,435.56	$ 13,159.65	
2/18/19	$	3,146.84	$	1,574.56	$	162.88	$	1,121.70	$	287.70	$	3,146.84	
3/5/19	$	4,825.54	$	2,243.96	$	576.60	$	2,004.98	$	-	$	4,825.54	
3/20/19	$	2,735.25	$	1,262.93	$	238.64	$	1,233.68	$	-	$	2,735.25	
4/8/19	$ 70,026.67	$ 63,848.52	$ 1,263.40	$	4,327.61	$	587.14	$ 70,026.67	
4/24/19	$ 314,245.08	$ 97,571.83	$ 1,073.23	$ 70,984.76	$ 144,615.26	$ 314,245.08	

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

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

TOTAL TAX ROLL RECEIVED	$ 1,246,309.40	$	616,592.85	$ 69,818.07	$ 340,758.71	$	219,139.77	$ 1,246,309.40	

BALANCE DUE TAX ROLL	$	195,102.13	$	9,246.13	$ 200,647.84	$	(6,125.82)	$	398,870.28	

PERCENT COLLECTED	75.96%	88.31%	62.94%	102.88%	75.76%