Agenda Page 2 Cheval West Community Development District Inframark, Infrastructure Management Services 210 North University Drive Suite 702 Coral Spri

Agenda Page 1 CHEVAL WEST COMMUNITY DEVELOPMENT DISTRICT JULY 19, 2018 AGENDA PACKAGE

Agenda Page 2 Cheval West Community Development District Inframark, Infrastructure Management Services 210 North University Drive Suite 702 Coral Springs, Florida 33071 Telephone: (954) 603.0033 Fax: (954) 345-1292 July 12, 2018 Board of Supervisors Cheval West Community Development District Dear Board Members: The regular meeting of the Board of Supervisors of the Cheval West Community Development District will be held Thursday July 19, 2018 at 9:00 a.m. at the Cheval Golf and Country Club Sunset Room, 4310 Cheval Blvd, Lutz, Florida 33558. Following is the advance agenda for this meeting: 1. Roll Call 2. Audience Comments on Agenda Items (3) minute time limit There are two opportunities for audience comments on any CDD matter during the course of the meeting as noted in the agenda. Additionally, audience comments are permitted on any matter being discussed by the Board, at the Boards request. In order to maintain order and in the interest of time and fairness to other speakers, each speaker must be recognized by the Chairman and or the Secretary and comments are limited to three minutes per person. This time may be extended at the discretion of the Chairman and or the Secretary. Only one person may speak at a time. Although Supervisors may not necessarily respond to the comments, they will be taken into consideration by the Supervisors. 3. Consent Agenda A. Approval of the Minutes of June 21, 2018 B. Acceptance of the Financial Statements Dated May 31, 2018 4. Public Hearing to Adopt Fiscal Year 2019 Budget A. Resolution 2018-03, Adopting the Budget B. Resolution 2018-04, Levying Non-Ad Valorem Assessments 5. Engineer s Report 6. Landscaper s Report 7. Community Services Report 8. Community Association Managers Report 9. Attorney s Report 10. CDD Manager s Report Discussion of Website Page 1

Agenda Page 3 11. Old Business Speed Bumps/Rumble Strips Survey discussed by Ms. Stewart TECO Contract discussed by the District Manager. Ramblewood Road Extension on hold until camera is installed by resident. Landscape Contract draft contract to be presented by the attorney 12. New Business and Supervisors Requests 13. Audience Comments 14. Adjournment Any supporting documents not included in the agenda will be distributed at the meeting. If you have any questions prior to the meeting, please contact me. Sincerely, Mark Vega Mark Vega/ab cc: Truett Gardner, Shelly Bramm, Tonja Stewart Page 2

Third Order of Business Agenda Page 4

3A. Agenda Page 5

Agenda Page 6 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 MINUTES OF MEETING CHEVAL WEST COMMUNITY DEVELOPMENT DISTRICT The regular meeting of the Board of Supervisors of the Cheval West Community Development District was held on June 21, 2018 at 9:00 a.m. at the Cheval Golf and Country Club - Sunset Room, 4310 Cheval Blvd, Lutz, Florida. Present and constituting a quorum were: Scott Hostler Vice Chairperson David Bowman Assistant Secretary Tracy Willsie Assistant Secretary Also present were: Mark Vega District Manager Truett Gardner District Counsel Tonja Stewart District Engineer Shelly Bramm Community Association Manager Danny Riveria Community Services John Sagon US Securities The following is a summary of the discussions and actions taken at the June 21, 2018 Cheval West Board of Supervisors Meeting. FIRST ORDER OF BUSINESS Roll Call Mr. Hostler called the meeting to order at 9:02 a.m., all the Supervisors were present except for Mr. McClain and Mr. Brown. SECOND ORDER OF BUSINESS Audience Comments on Agenda Items None. THIRD ORDER OF BUSINESS Consent Agenda A. Approval of the Minutes of May 17, 2018 On MOTION by Mr. Bowman seconded by Ms. Willsie with all in favor the minutes as amended was approved as amended. 3-0 B. Acceptance of Financial Statements dated April 30, 2018 C. Acceptance of the Financial Audit FY2017 On MOTION by Mr. Bowman seconded by Ms. Willsie with all in favor the financial statements and financial audit for FY2017 report were approved. 3-0 UNAPPROVED

June 21, 2018 Agenda Page 7 Cheval West C.D.D. 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 FOURTH ORDER OF BUSINESS Engineer s Report Ms. Stewart presented two proposals for the pipe on 18925 St Laurent. She solicited a proposal from Central Concrete Aquatic, Inc. and Kruger. Central Concrete came in at $10,950 and Kruger at $13,755. On MOTION by Mr. Bowman seconded by Ms. Willsie with all in favor to amend the motion made on May 17, in the amount of not to exceed $7,500 for the proposal from Central Concrete in the amount not to exceed $11,000 was approved. 3-0 Ms. Stewart indicated they previously discussed researching the pavement preservation. She has been collecting data on this and the product has turned out to be what was anticipated. She will contact the contractor and ask them to come out and inspect the roads to see which roads would qualify for use of this product. Ms. Stewart drove down TPC Boulevard to see what type of condition it is in and it appears it would qualify for this product. A brief synopsis of the product was provided. Discussion ensued regarding the installation of the signs. However, these have not been done as yet because apparently permits are required prior to installation. Therefore, this project will take much longer than anticipated. FIFTH ORDER OF BUSINESS Field Staff Report Landscapers Report The Board was informed Mr. Eastman was not available to attend todays meeting. The installation of the Penta s will occur in about one or two weeks time. The sod which was approved last month should be installed soon. Discussion ensued regarding the empty spot near the flag pole near the Lutz Lake Fern gate. Two proposals were presented. One is for the house on Avenal 5301 where they put the driveway onto TPC Boulevard. Ms. Bramm stated Mr. Gardner has sent a letter and she sent the repair proposal to the resident. The resident could not attend todays meeting, but he and his contractor reviewed the proposal and felt the repair price is too costly and he is willing to have the repair done himself and have Fieldstone come in and inspect. Discussion ensued regarding the District making the repair versus the resident. On consensus, the Board has opted to do the repair. Upon further discussion, Mr. Vega stated having a contractor do this work would require them providing insurance and adding the CDD as an additional insurer. The next proposal presented was for removal and replacement of the ginger behind the guard shack on Lutz Lake Fern. UNAPPROVED 2

June 21, 2018 Agenda Page 8 Cheval West C.D.D. 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 On MOTION by Ms. Willsie seconded by Mr. Bowman with all in favor to remove and replace the ginger behind the guard shack at the Lutz Lake Fern entry in the amount not to exceed $678 was approved. 3-0 Mr. Bowman questioned how Fieldstone will be able to confirm that the repair was done correctly. He asked if there was going to be a Fieldstone representative present to ensure the repair process is done right. After much discussion, on Board consensus, it was decided Fieldstone will do the repair. On MOTION by Ms. Willsie seconded by Mr. Bowman with all in favor to the proposal from Fieldstone for landscaping irrigation repairs at 5301 Avenal due to recent driveway construction in the amount not to exceed $1900 was approved. 3-0 Mr. Vega confirmed OLM stated they can keep the contract and the warranty clauses will remain in place, but the District cannot use OLMs grading system. Community Association Manager s Report None. SIXTH ORDER OF BUSINESS Attorney s Report Mr. Gardner presented his report to the Board. o Borrow pit; nothing has been refiled. o The mini warehouse has been put forward for July. o Ramblewood nothing has been refiled. o With regards to 5512 Lutz Lake Fern, Mr. Gardner does not think this will be an issue, but he wanted to bring this to the Boards attention. It is set to be heard July 16, 2018. o Mr. Gardner reviewed the site plan for this area with the Board. The Board requested Mr. Gardner write a letter of no objection in exchange for them confirming that on the southern property lines, they would fence and landscape. o On the maintenance agreement which was further discussed at last months meeting, it was mentioned that Mr. Vega was to send the termination letter to OLM and this has now been done. o The TECO street lights Mr. Vega was going to reach out to them to start the conversation and hopefully reduce the Districts lease rate. SEVENTH ORDER OF BUSINESS CDD Manager s Report A. Proposed FY2019 Meeting Schedule UNAPPROVED 3

June 21, 2018 Agenda Page 9 Cheval West C.D.D. 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 Mr. Vega presented the FY2019 meeting schedule to the Board. On consensus by the Board, the FY2019 meeting schedule was approved with the time change from 9:00 a.m. to 4:00 p.m. for the November 15, 2018 meeting. B. TECO Photometric Study of Savoy Mr. Vega met with TECO and they provided a number of proposals if the Board wanted to stay with them. The District should be able to use TECO s power lines for which they will install a meter, however they will remove all the poles. TECO provided two proposals and Mr. Vega reviewed them with the Board. Mr. Vega will reach out to Arkon. Mr. Vega shared there is a law firm in Miami which has chosen to sue three CDDs managed by another management company. The suit relates to not having their website ADA compliant for the blind. Further discussion ensued regarding this lawsuit. EIGHTH ORDER OF BUSINESS Old Business o Speed Bumps and Rumble Strips Survey Ms. Stewart indicated they are hoping to have results soon. o TECO Contract Mr. Vega discussed this during his report. o Ramblewood Road Extension A resident was going to install a camera at this location and provide the Board data. o Landscape Contract and Scoresheet This item was discussed earlier within the meeting. FIFTH ORDER OF BUSINESS (continued) Field Staff Report Community Services Report Mr. John Sagon from US Securities presented some new information to the Board as it relates to the rates discussed at the last meeting. He presented the rate proposals instead of a flat rate it will be from $10 to $13 with increments of twenty-five cents. For Mr. Wills position they broke it down for bill rates and pay rates. He reviewed the levels and rates. This is all based on years of service and experience. The entry level is still $10 but anything over $11.50 should be discussed. In the interim of Mr. Wills absence Danny Rivera from Cheval East will cover both East and West. Mr. Rivera will work closely with Ms. Bramm as she will keep him up to date on any projects which Mr. Wills performed. Mr. Hostler expressed his frustration when he called over to one of the gates. He questioned one of the community service representatives and asked if he had to get an UNAPPROVED 4

June 21, 2018 Agenda Page 10 Cheval West C.D.D. 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 emergency vehicle in, how would this occur and he was told by the individual, he had no idea and stated no one had asked him this before. Discussion ensued regarding the training provided for the community services representatives. Mr. Gardner mentioned during the meeting that he received a response from the school near 5512 Lutz Lake Fern and was thanked for the follow-up and thanked the Board for its stance on this. He informed Mr. Gardner that his client is out of the country until next week and since the requests are reasonable he will get back to Mr. Gardner once he has had the opportunity to speak with his client. NINTH ORDER OF BUSINESS New Business and Supervisors Request None TENTH ORDER OF BUSINESS Audience Comments None. ELEVENTH ORDER OF BUSINESS Adjournment There being no further business, On MOTION by Mr. Bowman seconded by Ms. Willsie with all in favor the meeting was adjourned at 11:01 a.m. 3-0 UNAPPROVED 5

3B. Agenda Page 11

Agenda Page 12 Cheval West Community Development District Financial Report May 31, 2018

Cheval West Community Development District Agenda Page 13 Table of Contents FINANCIAL STATEMENTS Balance Sheet - All Funds. Page 1 Statement of Revenues, Expenditures and Changes in Fund Balances General Fund. Page 2-3 Notes to the Financial Statements. Page 4-5 SUPPORTING SCHEDULES Non-Ad Valorem Special Assessments. Page 6 Cash and Investment Report. Page 7 Check Register. Page 8-10

Agenda Page 14 Cheval West Community Development District Financial Statements (Unaudited) May 31, 2018

CHEVAL WEST Community Development District Agenda Page 15 General Fund Balance Sheet May 31, 2018 ACCOUNT DESCRIPTION TOTAL ASSETS Cash - Checking Account $ 280,252 Cash On Hand/Petty Cash 500 Investments: Certificates of Deposit - 12 Months 106,768 Certificates of Deposit - 18 Months 659,894 Certificates of Deposit - 36 Months 489,060 Money Market Account 1,016,517 Prepaid Items 31 TOTAL ASSETS $ 2,553,022 LIABILITIES Accounts Payable $ 23,393 Accrued Expenses 22,733 Deposits 600 TOTAL LIABILITIES 46,726 FUND BALANCES Nonspendable: Prepaid Items 31 Assigned to: Operating Reserves 355,890 Reserves - Drainage 1,017 Reserves - Gatehouse/Equipment 96,138 Reserves - Playground 5,521 Reserves - Pond Banks 19,168 Reserves - Roads and Sidewalks 169,509 Reserves-Signs/Monuments/Fence 9,437 Unassigned: 1,849,585 TOTAL FUND BALANCES $ 2,506,296 TOTAL LIABILITIES & FUND BALANCES $ 2,553,022 1

CHEVAL WEST Community Development District Agenda Page 16 General Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending May 31, 2018 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE AS A % OF MAY-18 ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL REVENUES Interest - Investments $ 4,400 $ 7,209 163.84% $ 1,810 Interest - Tax Collector - 438 0.00% 268 Special Assmnts- Tax Collector 1,380,768 1,363,296 98.73% 8,153 Special Assmnts-Gate 5,319 5,252 98.74% 31 Special Assmnts- Discounts (55,443) (51,793) 93.42% - Other Miscellaneous Revenues - 514 0.00% - TOTAL REVENUES 1,335,044 1,324,916 99.24% 10,262 EXPENDITURES Administration P/R-Board of Supervisors 12,000 7,000 58.33% 1,000 FICA Taxes 918 536 58.39% 77 ProfServ-Engineering 20,000 7,517 37.59% 708 ProfServ-Legal Services 45,000 18,000 40.00% 3,000 ProfServ-Mgmt Consulting Serv 45,936 30,624 66.67% 3,828 Auditing Services 6,000-0.00% - Postage and Freight 600 133 22.17% 9 Insurance - General Liability 13,547 10,576 78.07% - Printing and Binding 600 127 21.17% 41 Legal Advertising 1,300 251 19.31% 251 Miscellaneous Services 2,700 664 24.59% 73 Misc-Assessmnt Collection Cost 27,722 26,340 95.01% 168 Misc-Web Hosting 1,200-0.00% - Office Supplies 500-0.00% - Annual District Filing Fee 175 175 100.00% - Total Administration 178,198 101,943 57.21% 9,155 Community Services ProfServ-Traffic Patrols 5,000 3,272 65.44% 40 Contractual Services 396,000 233,108 58.87% 38,605 Contracts-Special Pay 5,000-0.00% - Misc. Contractual Services 7,200 3,966 55.08% 497 Communication - Teleph - Field 2,150 401 18.65% - R&M-Gatehouse 3,000-0.00% - R&M-Chambord Gate 5,000 868 17.36% 154 R&M-Lutz Lake Fern Gate 5,000 2,274 45.48% 250 R&M-Ramblewood Gate 3,200 1,506 47.06% 111 Op Supplies - Gatehouse 6,000 3,085 51.42% 65 Op Supplies - Vehicle 18,400 10,463 56.86% 1,290 Total Community Services 455,950 258,943 56.79% 41,012 2

CHEVAL WEST Community Development District Agenda Page 17 General Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending May 31, 2018 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE AS A % OF MAY-18 ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL Field Contracts-On-Site Management 28,656 19,392 67.67% 2,460 Contracts-Landscape 204,350 108,195 52.95% 15,336 Contracts-Landscape Consultant 7,920 5,280 66.67% 660 Electricity - Streetlighting 161,000 111,189 69.06% 14,014 Utility - Water 30,530 15,781 51.69% 3,294 R&M-General 20,000 8,045 40.23% 3,865 R&M-Fountain 3,500 1,797 51.34% 1,542 R&M-Irrigation 17,410 7,810 44.86% 2,197 R&M-Lake 25,800 17,200 66.67% 2,150 R&M-Landscape Renovations 30,000 678 2.26% 678 R&M-Mulch 8,000-0.00% - R&M-Sidewalks 50,000 28,474 56.95% 1,739 Misc-Holiday Decor 8,705 11,905 136.76% - Misc-Special Events 5,500-0.00% - Misc-Contingency 61,000-0.00% - Op Supplies - General 9,300 5,835 62.74% 40 Capital Outlay - 41,893 0.00% - Reserve - Drainage Structures 1,200-0.00% - Reserve - Ponds 1,200-0.00% - Reserve - Roads/Sidewalk 95,909-0.00% - Reserve-Signs/Monuments/Fences 1,200 7,380 615.00% - Total Field 771,180 390,854 50.68% 47,975 TOTAL EXPENDITURES 1,405,328 751,740 53.49% 98,142 Excess (deficiency) of revenues Over (under) expenditures (70,284) 573,176-815.51% (87,880) OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance (70,284) - 0.00% - TOTAL FINANCING SOURCES (USES) (70,284) - 0.00% - Net change in fund balance $ (70,284) $ 573,176-815.51% $ (87,880) FUND BALANCE, BEGINNING (OCT 1, 2017) 1,933,120 1,933,120 FUND BALANCE, ENDING $ 1,862,836 $ 2,506,296 3

Cheval West Community Development District Agenda Page 18 Balance Sheet - All Funds Notes to the Financial Statements Assets The District has several CDs invested with General Fund monies which have various maturities. (See Cash & Investments Report for further details.) Prepaid Items represents overpayment of payroll taxes. Liabilities Accounts Payable represents posted invoices paid in June. Accrued Expenses represents expenses accrued for the month. A Deposit is being held in order to restore sidewalk altered by resident to original condition after the resident moves out of the District. Fund Balance In the General Fund, the District has assigned funds for various assets. The notes are intended to provide additional information helpful when reviewing the financial statements. Report Date: 6/27/2018 4

Cheval West Community Development District Agenda Page 19 Governmental Funds Notes to the Financial Statements Financial Overview / Highlights Total revenues are currently at 99% of the annual budget. 99% of special assessments have been collected. Total expenditures are at approximately 53% of the annual budget. services and field expenditures are under budget. The administrative expenditures, community Variance Analysis Account Name Expenditures - General Fund Annual Budget YTD Actual % of Budget Explanation Administrative Insurance-General Liability $13,547 $10,576 78% Three quarterly payments for insurance have been made. Community Services Contractual Services $396,000 $233,108 59% Includes payments to US Security. Contract-Special Pay $5,000 $0 0% Holiday bonuses for US Security personnel have not been paid. Field Contracts-On-Site Management $28,656 $19,392 68% All payments to GPI for on-site management. Contracts-Landscape $204,350 $108,195 53% Electricity-Streetlighting $161,000 $111,189 69% Misc-Holiday Décor $8,705 $11,905 137% Capital Outlay $0 $41,893 0% Reserve-Signs/Monuments/Fences $1,200 $7,380 615% Includes monthly contract amount and other landscape maintenance items. All payments to Tampa Electric for streetlighting. All payments for holiday lighting. Includes $31,462 for gate scanners and $10,431 for LED display. Includes $7,380 for signs. The notes are intended to provide additional information helpful when reviewing the financial statements. Report Date: 6/27/2018 5

Agenda Page 20 Cheval West Community Development District Supporting Schedules May 31, 2018

Cheval West Community Development District Agenda Page 21 Non-Ad Valorem Special Assessments (Hillsborough County Tax Collector - Monthly Collection Distributions) For the Fiscal Year Ending September 30, 2018 ALLOCATION Discount / Gross Date Net Amount (Penalties) Collection Amount General Fund Gate Received Received Amount Costs Received Assessments Assessments Assessments Levied $1,386,087 $ 1,380,768 $ 5,319 Allocation % 100% 99.62% 0.38% 11/07/17 $ 13,533.77 $ 765.21 $ 276.20 $ 14,575.18 $ 14,519.25 $ 55.93 11/15/17 $ 82,917.69 $ 3,525.38 $ 1,692.20 $ 88,135.27 $ 87,797.06 $ 338.21 11/24/17 $ 247,380.75 $ 10,517.77 $ 5,048.58 $ 262,947.10 $ 261,938.06 $ 1,009.04 12/11/17 $ 715,856.56 $ 30,435.69 $ 14,609.32 $ 760,901.57 $ 757,981.67 $ 2,919.90 12/15/17 $ 98,289.62 $ 3,572.70 $ 2,005.91 $ 103,868.23 $ 103,469.64 $ 398.59 01/10/18 $ 53,734.55 $ 2,319.01 $ 1,096.62 $ 57,150.18 $ 56,930.87 $ 219.31 02/08/18 $ 21,178.70 $ 539.78 $ 432.22 $ 22,150.70 $ 22,065.70 $ 85.00 03/06/18 $ 11,388.83 $ 117.39 $ 232.43 $ 11,738.65 $ 11,693.60 $ 45.05 04/06/18 $ 38,119.14 $ - $ 777.94 $ 38,897.08 $ 38,747.82 $ 149.26 05/08/18 $ 8,015.72 $ - $ 168.41 $ 8,184.13 $ 8,152.72 $ 31.41 TOTAL $ 1,290,415 $ 51,793 $ 26,340 $ 1,368,548 $ 1,363,296 $ 5,252 % COLLECTED 98.73% 98.73% 98.73% TOTAL OUTSTANDING $ 17,539 $ 17,472 $ 67 Report Date: 6/27/2018 6

Cheval West Community Development District Agenda Page 22 Cash and Investment Report May 31, 2018 ACCOUNT NAME BANK NAME YIELD MATURITY BALANCE GENERAL FUND Checking Account - Operating Florida Community 0.00% n/a 279,538 Debit Card Florida Community 0.00% n/a 714 Subtotal 280,252 Petty Cash 0.00% n/a 500 Certificate of Deposit - 12 Months Bank United 1.55% 05/01/19 106,768 Subtotal 106,768 Certificate of Deposit - 18 Months Bank United 0.41% 08/22/19 204,947 Certificate of Deposit - 18 Months Bank United 0.41% 08/22/19 204,947 Certificate of Deposit - 18 Months Bank United 1.20% 12/07/18 250,000 Subtotal 659,894 Certificate of Deposit - 36 Months Valley National 1.40% 12/13/20 439,060 Certificate of Deposit - 36 Months Bank United 1.95% 05/01/21 50,000 Subtotal 489,060 Money Market Account Bank United 1.00% n/a 1,016,517 Subtotal 1,016,517 Total $ 2,063,931 Report Date: 6/27/2018 7

CHEVAL WEST Community Development District Agenda Page 23 Payment Register by Fund For the Period from 5/1/2018 to 5/31/2018 (Sorted by Check / ACH No.) Fund No. Check / ACH No. Date Payee Invoice No. Payment Description Invoice / GL Description G/L Account # Amount Paid GENERAL FUND - 001 001 113 05/04/18 CHEVAL WEST CDD 050118-XFER XFER FR BUMMA TO FCB CHECK Cash in Bank 101003 $150,000.00 001 7451 05/02/18 GPI-GREENACRE PROPERTIES INC 050118 MAY 2018 CONTRACT/APR EXP Contracts-On-Site Management 534029-53901 $2,460.00 001 7451 05/02/18 GPI-GREENACRE PROPERTIES INC 050118 MAY 2018 CONTRACT/APR EXP Op Supplies - General 552001-53901 $0.47 001 7452 05/02/18 PAUL WILLS 042618-DEBIT REIMB FOR GATE HOUSE SUPPLIES Op Supplies - Gatehouse 552029-52902 $119.91 001 7453 05/02/18 U.S. SECURITY ASSOCIATES, INC. 2136702 4/13-4/19/18 LUTZ Contractual Services 534102-52902 $2,427.67 001 7453 05/02/18 U.S. SECURITY ASSOCIATES, INC. 2136701 4/13-4/19/18 RAMBLEWOOD Contractual Services 534102-52902 $2,427.66 001 7453 05/02/18 U.S. SECURITY ASSOCIATES, INC. 2129455 4/6-4/12/18 ROVER/FUEL FUEL 552031-52902 $116.02 001 7453 05/02/18 U.S. SECURITY ASSOCIATES, INC. 2129455 4/6-4/12/18 ROVER/FUEL ROVER 531052-52902 $2,312.07 001 7453 05/02/18 U.S. SECURITY ASSOCIATES, INC. 2136700 4/13-4/19/18 ROVER/FUEL ROVER 534102-52902 $2,398.77 001 7453 05/02/18 U.S. SECURITY ASSOCIATES, INC. 2136700 4/13-4/19/18 ROVER/FUEL FUEL 552031-52902 $116.02 001 7453 05/02/18 U.S. SECURITY ASSOCIATES, INC. 2129457 4/6-4/12/18 LUTZ Contractual Services 534102-52902 $2,427.67 001 7454 05/04/18 DWELLING LIVE, INC INV-142309 MAY 2018 CREDENTIALED ACCESS Misc. Contractual Services 534377-52902 $497.27 001 7454 05/04/18 DWELLING LIVE, INC INV-142309 MAY 2018 CREDENTIALED ACCESS Accounts Receivable 115000-52902 $251.33 001 7455 05/04/18 FIELDSTONE LANDSCAPE 20990 MAY 2018 LANDSCAPE MAINT SNCST Contracts-Landscape 534050-53901 $389.66 001 7455 05/04/18 FIELDSTONE LANDSCAPE 21035 MAY 2018 LANDSCAPE MAINT 75% Contracts-Landscape 534050-53901 $10,654.77 001 7456 05/09/18 ARCHITECTURAL FOUNTAINS, INC. 02011806Q QUARTERLY LAKE/FNTN SVC R&M-Fountain 546032-53901 $255.00 001 7457 05/09/18 FIELDSTONE LANDSCAPE 21034 MAY LANDSCAPE MAINT 25% Contracts-Landscape 534050-53901 $3,551.59 001 7458 05/09/18 SOLITUDE LAKE MANAGEMENT PI-A00170529 MAY AQUATIC MGMT R&M-Lake 546042-53901 $2,150.00 001 7459 05/09/18 STANTEC CONSULTING SRV INC 1348026 ENG'G SVC THRU APRIL 2018 ProfServ-Engineering 531013-51501 $225.00 001 7460 05/09/18 U.S. SECURITY ASSOCIATES, INC. 2129456 SEC SVC 4/6-4/12/18 Contractual Services 534102-52902 $2,427.67 001 7461 05/11/18 INFANTE'S CLEANING SERVICES LLC 32967 GRD HSE'S/SIDEWALKS CLND R&M-General 546001-53901 $975.00 001 7462 05/14/18 ARETE INDUSTRIES CS/2018/3762 ENTRANCE MONUMENT FINAL PAYMENT 552001-53901 $2,167.00 001 7463 05/14/18 KRUEGER CONTRACTING INC 000207 ST LAURENT/SIDEWALK GRINDS R&M-Sidewalks 546084-53901 $1,739.00 001 7464 05/17/18 COMPLETE CLIMATE CONTROL 2056-9389 LUTZ LAKE GRD HSE A/C REPAIR R&M-Lutz Lake Fern Gate 546127-52902 $135.00 001 7465 05/17/18 FIELDSTONE LANDSCAPE 20895 APR 2018 LNDSCP SUNCOAST PRK Contracts-Landscape 534050-53901 $389.66 001 7465 05/17/18 FIELDSTONE LANDSCAPE 20650 MAR LNDSCP MAINT 75% Contracts-Landscape 534050-53901 $3,535.08 001 7465 05/17/18 FIELDSTONE LANDSCAPE 20649 MAR 2018 LNDSCP MAINT 75% Contracts-Landscape 534050-53901 $10,654.77 001 7465 05/17/18 FIELDSTONE LANDSCAPE 20610 MAR LNDSCP MAINT SUNCOAST PRK Contracts-Landscape 534050-53901 $389.66 001 7465 05/17/18 FIELDSTONE LANDSCAPE 20896 APR LNDSCP MAINT - 75% Contracts-Landscape 534050-53901 $10,654.77 001 7466 05/17/18 OLM, INC. 33018 MTHLY LANDSCAPE INSPECTION 5/2 Contracts-Landscape Consultant 534062-53901 $660.00 001 7467 05/19/18 DONALD P HAWTHORNE 543 REPAIR TOILET @ GRAND GATE R&M-General 546001-53901 $215.00 001 7468 05/21/18 BOCC 051118-CHECK BILL PRD 4/6-5/7 21371 543018-53901 $3,293.64 8

CHEVAL WEST Community Development District Agenda Page 24 Payment Register by Fund For the Period from 5/1/2018 to 5/31/2018 (Sorted by Check / ACH No.) Fund No. Check / ACH No. Date Payee Invoice No. Payment Description Invoice / GL Description G/L Account # Amount Paid 001 7469 05/21/18 CHEVAL WEST CDD 051818-DEBIT REPLENISH DEBIT CARD Cash in Bank 101002 $162.75 001 7470 05/21/18 DLTD INC 0001128 SEC SVC SCH FEE 3/27/18 ProfServ-Traffic Patrols 531052-52902 $40.00 001 7471 05/21/18 LOPEZ, JESUS 0001129 TRAFFIC CONTROL 3/27/18 ProfServ-Traffic Patrols 531052-52902 $200.00 001 7477 05/24/18 FRONTIER 04155-051318 5/13-6/12 INTERNET CHAMBORD R&M-Chambord Gate 546126-52902 $203.96 001 7478 05/24/18 TAMPA ELECTRIC 051118-CHECK BILL PRD 4/7-5/7/18 Electricity - Streetlighting 543013-53901 $8,304.99 001 7479 05/24/18 U.S. SECURITY ASSOCIATES, INC. 2166796 5/4-5/10 RAMBLEWOOD Contractual Services 534102-52902 $2,427.67 001 7479 05/24/18 U.S. SECURITY ASSOCIATES, INC. 2153494 4/27-5/3 ROVER/FUEL Contractual Services 534102-52902 $2,427.67 001 7479 05/24/18 U.S. SECURITY ASSOCIATES, INC. 2153494 4/27-5/3 ROVER/FUEL Op Supplies - Vehicle 552031-52902 $124.33 001 7479 05/24/18 U.S. SECURITY ASSOCIATES, INC. 2166795 5/4-5/10 ROVER/FUEL Contractual Services 534102-52902 $2,369.86 001 7479 05/24/18 U.S. SECURITY ASSOCIATES, INC. 2166795 5/4-5/10 ROVER/FUEL Op Supplies - Vehicle 552031-52902 $151.49 001 7479 05/24/18 U.S. SECURITY ASSOCIATES, INC. 2153495 4/27-5/3 RAMBLEWOOD Contractual Services 534102-52902 $2,427.67 001 7479 05/24/18 U.S. SECURITY ASSOCIATES, INC. 2147939 4/20-4/26 LLF GATE Contractual Services 534102-52902 $2,427.67 001 7479 05/24/18 U.S. SECURITY ASSOCIATES, INC. 2147938 4/20-4/26 RAMBLEWOOD Contractual Services 534102-52902 $2,427.67 001 7479 05/24/18 U.S. SECURITY ASSOCIATES, INC. 2150558 APR PATROL VEHICLE Op Supplies - Vehicle 552031-52902 $890.00 001 7479 05/24/18 U.S. SECURITY ASSOCIATES, INC. 2153496 4/27-5/3 LLF GATE Contractual Services 534102-52902 $2,427.67 001 7479 05/24/18 U.S. SECURITY ASSOCIATES, INC. 2166797 5/4-5/10 LLF GATE Contractual Services 534102-52902 $2,427.67 001 7480 05/29/18 TIMES PUBLISHING CO 636653 NOTICE OF QUAL PRD 5/17/18 Legal Advertising 548002-51301 $250.50 001 7481 05/30/18 ARCHITECTURAL FOUNTAINS, INC. 052018-07 FNTN MOTOR/PMPBOX REPLACED R&M-Fountain 546032-53901 $1,087.00 001 DD130 05/03/18 TAMPA ELECTRIC 041218-ACH SVC 3/8-4/6 Electricity - Streetlighting 543013-53901 $5,635.80 001 DD131 05/20/18 FRONTIER 032818-3294 ACH LUTZ 3/28-4/27/18 INTERNET R&M-Lutz Lake Fern Gate 546127-52902 $51.98 001 DD132 05/20/18 FRONTIER 042818-4004 4/28-5/27/18 LUTZ GATE 813-948-4007 546127-52902 $114.60 001 DD133 05/30/18 FRONTIER 050718-4180 BILL PRD 5/7-6/6/18 Communication - Teleph - Field 541005-52902 $51.98 001 DD134 05/31/18 FRONTIER 050718-1238 5/7-6/6/18 RAMBLEWOOD PHONE 546128-52902 $110.58 001 DD136 05/30/18 FRONTIER 04155-041318 4/13-5/12/18 CHAMBORD R&M-Chambord Gate 546126-52902 $101.98 001 DD136 05/30/18 FRONTIER CM4155-41318 TO CORRECT ACH PAYMENT MADE R&M-Chambord Gate 546126-52902 ($50.00) 9

CHEVAL WEST Community Development District Agenda Page 25 Payment Register by Fund For the Period from 5/1/2018 to 5/31/2018 (Sorted by Check / ACH No.) Fund No. Check / ACH No. Date Payee Invoice No. Payment Description Invoice / GL Description G/L Account # Amount Paid 001 7472 05/22/18 DAVID W. BOWMAN PAYROLL May 22, 2018 Payroll Posting $184.70 001 7473 05/22/18 HARRY P. BROWN PAYROLL May 22, 2018 Payroll Posting $184.70 001 7474 05/22/18 TRACY J. WILLSIE PAYROLL May 22, 2018 Payroll Posting $184.70 001 7475 05/22/18 TIMOTHY MCCLAIN PAYROLL May 22, 2018 Payroll Posting $184.70 001 7476 05/22/18 SCOTT P. HOSTLER PAYROLL May 22, 2018 Payroll Posting $184.70 Fund Total $257,736.12 Total Checks Paid $257,736.12 10

Fourth Order of Business Agenda Page 26

Agenda Page 27 CHEVAL WEST Community Development District Annual Operating Budget Fiscal Year 2019 Version 1 - Approved Tentative Budget: (Approved at May 17, 2018 meeting) Prepared by:

CHEVAL WEST Community Development District Agenda Page 28 Table of Contents Page # OPERATING BUDGET General Fund Summary of Revenues, Expenditures and Changes in Fund Balances.. 1-2 Exhibit A - Allocation of Fund Balances 3 Budget Narrative. 4-7 SUPPORTING BUDGET SCHEDULES 2018-2019 Non-Ad Valorem Assessment Summary.. 8

Agenda Page 29 Cheval West Community Development District Operating Budget Fiscal Year 2019

CHEVAL WEST Community Development District Agenda Page 30 General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2019 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU MAR - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2016 FY 2017 FY 2018 FEB-2018 SEP-2018 FY 2018 FY 2019 REVENUES Interest - Investments $ 11,481 $ 16,111 $ 4,400 $ 2,475 $ 1,925 $ 4,400 $ 4,400 Interest - Tax Collector 870 756-170 - 170 - Special Assmnts- Tax Collector 1,300,029 1,317,318 1,380,768 1,304,702 76,066 1,380,768 1,456,210 Special Assmnts-Gate 5,319 5,319 5,319 5,026 293 5,319 5,319 Special Assmnts- Delinquent 1,280 4,367 - - - - - Special Assmnts- Discounts (47,886) (48,614) (55,443) (51,676) - (51,676) (58,461) Other Miscellaneous Revenues - - - 514-514 - TOTAL REVENUES 1,271,093 1,295,257 1,335,044 1,261,211 78,284 1,339,495 1,407,468 EXPENDITURES Administrative P/R-Board of Supervisors 10,800 11,400 12,000 4,400 7,000 11,400 12,000 FICA Taxes 826 872 918 337 536 873 918 ProfServ-Engineering 14,496 5,273 20,000 6,302 8,823 15,125 20,000 ProfServ-Legal Services 40,545 36,000 45,000 15,000 21,000 36,000 45,000 ProfServ-Mgmt Consulting Serv 45,257 45,257 45,936 19,140 26,796 45,936 47,314 Auditing Services 5,500 5,500 6,000-6,000 6,000 6,000 Postage and Freight 271 1,391 600 91 500 591 600 Insurance - General Liability 8,921 11,584 13,547 6,985 7,182 14,167 15,800 Printing and Binding 487 303 600 72 500 572 600 Legal Advertising 1,672 2,041 1,300-1,300 1,300 1,300 Miscellaneous Services 2,010 1,691 2,700 421 1,300 1,721 2,700 Misc-Assessmnt Collection Cost 17,634 17,408 27,722 25,161 1,521 26,682 29,231 Misc-Web Hosting 314 267 1,200-700 700 1,200 Office Supplies - 568 500-292 292 500 Annual District Filing Fee 175 175 175 175-175 175 Total Administrative 148,908 139,730 178,198 78,084 83,449 161,533 183,338 Community Services ProfServ-Traffic Patrols 720 1,680 5,000 720 1,008 1,728 5,000 Contractual Services 371,002 369,196 396,000 141,492 198,089 339,581 396,000 Contracts-Special Pay 5,000 5,000 5,000 - - - 5,000 Misc. Contractual Services 5,534 5,867 7,200 2,474 3,464 5,938 7,200 Communication - Teleph - Field 522 533 2,150 245 343 588 2,150 R&M-Gatehouse 1,208 2,585 3,000-1,750 1,750 3,000 R&M-Chambord Gate 5,193 3,834 5,000 510 714 1,224 5,000 R&M-Lutz Lake Fern Gate 3,102 4,614 5,000 1,972 2,761 4,733 5,000 R&M-Ramblewood Gate 1,724 5,096 3,200 887 1,242 2,129 3,200 Op Supplies - Gatehouse 6,391 3,220 6,000 2,760 3,864 6,624 6,000 Op Supplies - Vehicle 16,012 16,807 18,400 6,403 8,964 15,367 18,400 Total Community Services 416,408 418,432 455,950 157,463 222,198 379,661 455,950 Field Contracts-On-Site Management 27,620 28,448 28,656 11,940 16,716 28,656 28,656 Contracts-Landscape 205,712 194,616 204,350 61,077 85,508 146,585 204,350 Contracts-Landscape Consultant 7,830 7,920 7,920 3,300 4,620 7,920 7,920 Electricity - Streetlighting 152,151 162,473 161,000 69,465 97,251 166,716 167,000 Utility - Water 30,779 28,963 30,530 9,625 13,475 23,100 30,530 Annual Operating Budget Fiscal Year 2019 1

CHEVAL WEST Community Development District Agenda Page 31 General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2019 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU MAR - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2016 FY 2017 FY 2018 FEB-2018 SEP-2018 FY 2018 FY 2019 R&M-General 11,312 10,437 20,000 2,355 3,297 5,652 11,000 R&M-Fountain 2,285 3,792 3,500-2,042 2,042 3,500 R&M-Irrigation 18,481 18,542 17,410 2,001 2,801 4,802 17,410 R&M-Lake 25,800 25,800 25,800 10,750 15,050 25,800 25,800 R&M-Landscape Renovations 17,451 14,750 30,000-17,500 17,500 30,000 R&M-Mulch 473 3,475 8,000-4,667 4,667 8,000 R&M-Sidewalks 45,925 24,788 50,000 19,097 26,736 45,833 50,000 Misc-Holiday Decor 8,705 8,515 8,705 6,030 6,030 8,705 Misc-Special Events 5,240 5,500 5,500-5,500 5,500 5,500 Misc-Contingency - - 61,000-35,583 35,583 61,000 Op Supplies - General 6,340 1,694 9,300 3,368 4,715 8,083 9,300 Capital Outlay - 28,600-23,893-23,893 - Reserve - Drainage Structures - 10,400 1,200 - - - 1,200 Reserve - Ponds - - 1,200 - - - 1,200 Reserve - Roads/Sidewalk - - 95,909 - - - 95,909 Reserve-Signs/Monuments/Fences - - 1,200 7,380-7,380 1,200 Total Field 566,104 578,713 771,180 230,281 335,461 565,742 768,180 TOTAL EXPENDITURES 1,131,420 1,136,875 1,405,328 465,828 641,108 1,106,936 1,407,468 Excess (deficiency) of revenues Over (under) expenditures 139,673 158,382 (70,284) 795,383 (562,824) 232,559 - OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance - - (70,284) - - - - TOTAL OTHER SOURCES (USES) - - (70,284) - - - - Net change in fund balance 139,673 158,382 (70,284) 795,383 (562,824) 232,559 - FUND BALANCE, BEGINNING 1,616,119 1,755,792 1,914,174 1,914,174-1,914,174 2,146,733 FUND BALANCE, ENDING $ 1,755,792 $ 1,914,174 $ 1,843,890 $ 2,709,557 $ (562,824) $ 2,146,733 $ 2,146,733 Annual Operating Budget Fiscal Year 2019 2

CHEVAL WEST Community Development District Agenda Page 32 Exhibit "A" Allocation of Fund Balances AVAILABLE FUNDS Amount Beginning Fund Balance - Fiscal Year 2019 $ 2,146,733 Net Change in Fund Balance - Fiscal Year 2019 - Reserves - Fiscal Year 2019 Additions 99,509 Total Funds Available (Estimated) - 9/30/2019 2,246,242 ALLOCATION OF AVAILABLE FUNDS Assigned Fund Balance Operating Reserve - First Quarter Operating Capital 351,867 (1) Reserve - Drainage Structures 1,015 (2) FY 2018 Reserve Funding 1,200 FY 2019 Reserve Funding 1,200 3,415 Reserve - Gatehouse/Equipment 95,988 (2) FY 2018 Reserve Funding - FY 2019 Reserve Funding - 95,988 Reserve - Playground 5,512 (2) FY 2018 Reserve Funding - FY 2019 Reserve Funding - 5,512 Reserve - Ponds 19,138 (2) FY 2018 Reserve Funding 1,200 FY 2019 Reserve Funding 1,200 21,538 Reserve - Roads/Sidewalk 169,244 (2) FY 2018 Reserve Funding 95,909 FY 2019 Reserve Funding 95,909 361,062 Reserve-Signs/Monuments/Fences 9,423 (2) FY 2018 Reserve Funding 1,200 FY 2019 Reserve Funding 1,200 11,823 Subtotal 851,205 Total Allocation of Available Funds 851,205 Total Unassigned (undesignated) Cash $ 1,395,037 Notes (1) Represents approximately 3 months of operating expenditures (2) Reserve balance as of February 28, 2018, includes FY 2018 expenses Annual Operating Budget Fiscal Year 2019 3

CHEVAL WEST Community Development District Agenda Page 33 General Fund Budget Narrative Fiscal Year 2019 REVENUES Interest-Investments The District earns interest on the monthly average collected balance for their operating accounts. Special Assessments-Tax Collector The District will levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the Fiscal Year. Special Assessments-Gate The District will levy a Non-Ad Valorem assessment on all the property within the Chambord subdivision in order to pay for the gate expenses during the Fiscal Year. Special Assessments-Discounts Per Section 197.162, Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments. EXPENDITURES Administrative P/R-Board of Supervisors Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting at which they are in attendance. The amount for the Fiscal Year is based upon all supervisors attending all of the meetings. Professional Services-Engineering The District's engineer provides general engineering services to the District, i.e. attendance and preparation for monthly board meetings when requested, review of invoices, and other specifically requested assignments. Professional Services-Legal Services The District s Attorney provides general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research as directed or requested by the Board of Supervisors and the District Manager. Professional Services-Management Consulting Services The District receives Management, Accounting and Administrative services as part of a Management Agreement with Inframark Infrastructure Management Services. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement. Auditing Services The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from an existing engagement letter, including for a moderate increase. Postage and Freight Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence. Annual Operating Budget Fiscal Year 2019 4

CHEVAL WEST Community Development District Agenda Page 34 General Fund Budget Narrative Fiscal Year 2019 EXPENDITURES Administrative (continued) Insurance-General Liability The District's General Liability & Public Officials Liability Insurance policy is with Preferred Governmental Insurance Trust. They specialize in providing insurance coverage to governmental agencies. The budgeted amount allows for a projected increase in the premium. Printing and Binding Copies used in the preparation of agenda packages, required mailings, and other special projects. Legal Advertising The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation. Miscellaneous Services This includes monthly bank charges and other miscellaneous expenses that may be incurred during the year. Miscellaneous-Assessment Collection Costs The District reimburses the Tax Collector for her or his necessary administrative costs. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District also compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted, whichever is greater. The budgeted amount for collection costs was based on a maximum of 2% of the anticipated assessment collections. Miscellaneous-Web Hosting This includes any changes incurred during the year for web hosting. Office Supplies Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects. Annual District Filing Fee The District is required to pay an annual fee of $175 to the Department of Community Affairs. Community Services Professional Services-Traffic Patrols The District currently employs the Florida Highway Patrol to monitor traffic. Contractual Services The District currently has a contract with a firm to provide services to protect the District assets. Contracts -Special Pay Bonuses for community services personnel. Misc. Contractual Services Contract with Dwelling Live for credentialed access maintenance. Communication-Telephone-Field Telephone and fax machine expenses for field services. Annual Operating Budget Fiscal Year 2019 5

CHEVAL WEST Community Development District Agenda Page 35 General Fund Budget Narrative Fiscal Year 2019 EXPENDITURES Community Services (continued) R&M-Gatehouse The District periodically implements needed repairs to ensure maintenance of the gatehouse and gate equipment. R&M-Chambord Gate Expenses incurred for Village 9/Chambord gate. R&M-Lutz Lake Fern Gate Expenses incurred for Lutz Lake Fern gate. R&M-Ramblewood Gate Expenses incurred for Ramblewood gate. Operating Supplies-Gatehouse The District will provide necessary consumable supplies to operate the gatehouse. Operating Supplies-Vehicle The District will pay for the vehicle and gas used by the community services personnel. Field Contracts-On-Site Management The District currently has a contract for field operations services. Contracts-Landscape The District currently has a contract with a landscape firm to maintain the landscaping and irrigation system for the District. Contracts-Landscape Consultant The District currently has a contract with a landscape consultant to monitor the quality of the landscaping services. Electricity-Streetlighting Streetlighting usage for District facilities and assets. Utility-Water Water irrigation usage for District facilities and assets. R&M-General The District periodically implements needed repairs to ensure maintenance of District assets. R&M-Fountain This includes repairs and maintenance of the fountain. R&M-Irrigation This includes repairs and maintenance of the irrigation system to ensure proper operation and adequate water for District plantings. R&M-Lake The District currently has a contract with a certified lake maintenance company to ensure the proper flow and function of the storm water system. Annual Operating Budget Fiscal Year 2019 6

CHEVAL WEST Community Development District Agenda Page 36 General Fund Budget Narrative Fiscal Year 2019 EXPENDITURES Field (continued) R&M-Landscape Renovations This includes the cost to install any new landscapes within the District. R&M-Mulch This includes the cost to install mulch within the District. R&M-Sidewalks This includes repairs and maintenance of the sidewalks. Misc-Holiday Decor The District will periodically provide funding for holiday décor displayed at District facilities and grounds. Misc-Special Events The District will periodically provide funding for special community events held at District recreation facilities. Operating Supplies-General The District will provide necessary consumable supplies to operate District facilities. Reserve-Drainage Structures The District will set aside funds to ensure repair and/or replacement of the drainage structures. Reserve-Ponds The District will set aside funds to ensure repair and/or replacement of the ponds. Reserve-Roads/Sidewalks The District will set aside funds to ensure repair and/or replacement of the roads and sidewalks. Reserve-Signs/Monuments/Fences The District will set aside funds to ensure repair and/or replacement of the signs, monuments and fences. Annual Operating Budget Fiscal Year 2019 7

Agenda Page 37 Cheval West Community Development District Supporting Budget Schedules Fiscal Year 2019

CHEVAL WEST Community Development District Agenda Page 38 Comparison of Assessment Rates Fiscal Year 2019 vs. Fiscal Year 2018 Product General Fund 001 FY 2019 FY 2018 Percent Change Acres Units 1 St. Laurent $2,207.92 2,093.53 5% 32.64 81 2 Chantilly $1,352.94 1,282.85 5% 19.26 78 3 Jardin $1,942.08 1,841.46 5% 15.95 45 4a Chardonnay $1,953.74 1,852.52 5% 50.99 49 4b&c Chardonnay $1,953.74 1,852.52 5% 94 5a Charlevoix $1,518.69 1,440.02 5% 12.75 46 5b Charlevoix $1,265.95 1,200.37 5% 19.87 86 6 Charlevoix $1,899.46 1,801.05 5% 17.68 51 7 Deauville $1,471.40 1,395.17 5% 12.89 48 8 Estates/West $3,876.54 3,675.71 5% 16.98 24 9 Chambord/Pulte $1,265.08 1,202.57 5% 20.04 91 10 Simone $3,913.72 3,710.96 5% 10 14 11a Avenal $1,093.17 1,036.54 5% 7.18243902 36 11b Avenal $1,366.46 1,295.67 5% 0.99756098 4 12 LaCrosse $4,273.79 4,052.37 5% 4.68 6 13 Vendome $3,820.51 3,622.58 5% 15.34 18 14 Medoc $3,820.51 3,622.58 5% 4 GC $46,682.89 44,264.38 5% 8.52 1 265.77 776 Annual Operating Budget Fiscal Year 2019 8

4A. Agenda Page 39

Agenda Page 40 RESOLUTION 2018-03 A RESOLUTION OF THE CHEVAL WEST COMMUNITY DEVELOPMENT DISTRICT RELATING TO THE ANNUAL APPROPRIATIONS OF THE DISTRICT AND ADOPTING THE BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2018; AND ENDING SEPTEMBER 30, 2019, AND REFERENCING THE MAINTENANCE AND BENEFIT SPECIAL ASSESSMENTS TO BE LEVIED BY THE DISTRICT FOR SAID FISCAL YEAR WHEREAS, the District Manager has, prior to the fifteenth (15th) day in June, 2018, submitted to the Board of Supervisors (the "Board") a proposed budget for the next ensuing budget year along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Section 190.008(2)(a), Florida Statutes; and WHEREAS, at least sixty (60) days prior to the adoption of the proposed annual budget and any proposed long-term financial plan or program of the District for future operations (the "Proposed Budget) the District did file a copy of the Proposed Budget with the general purpose local governing authorities having jurisdiction over the area included in the District pursuant to the provisions of Section 190.008(2)(b), Florida Statutes; and WHEREAS, on May 17, 2018, the Board set July 19, 2018, as the date for a public hearing thereon and caused notice of such public hearing to be given by publication pursuant to Section 190.008(2)(a) Florida Statutes; and WHEREAS, Section 190.008(2)(a), Florida Statutes requires that, prior to October 1 of each year, the District Board by passage of the Annual Appropriation Resolution shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year; and WHEREAS, the District Manager has prepared a Proposed Budget on a Cash Flow Budget basis, whereby the budget shall project the cash receipts and disbursements anticipated during a given time period, including reserves for contingencies for emergency or other unanticipated expenditures during the fiscal year; and WHEREAS, Section 190.021, Florida Statutes provides that the Annual Appropriation Resolution shall also fix the Maintenance Special Assessments and Benefit Special Assessments upon each piece of property within the boundaries of the District benefited, specifically and peculiarly, by the maintenance and/or capital improvement programs of the District, such levy representing the amount of District assessments necessary to provide for payment during the ensuing budget year of all properly authorized expenditures to be incurred by the District, including principal and interest of special revenue, capital improvement and/or benefit assessment bonds, in order for the District to exercise its various general and special powers to implement its single and specialized infrastructure provision purpose; and WHEREAS, the Board of Supervisors of the Cheval West Community Development District finds and determines that the non-ad valorem special assessments it imposes and levies by this Resolution for maintenance on the parcels of property involved will constitute a mechanism by which the property owners lawfully and validly will reimburse the District for those certain special and peculiar

Agenda Page 41 benefits the District has determined are received by, and flow to, the parcels of property from the systems, facilities and services being provided, and that the special and peculiar benefits are apportioned in a manner that is fair and reasonable in accordance with applicable assessment methodology and related case law; and WHEREAS, the Chair of the Board of Supervisors may designate the District Manager or other person to certify the non-ad valorem assessment roll to the Tax Collector in and for Hillsborough County political subdivision on compatible electronic medium tied to the property identification number no later than 30 August 2018 so that the Tax Collector may merge that roll with others into the collection roll from which the November tax notice is to be printed and mailed; and WHEREAS, the proceeds from the collections of these imposed and levied non-ad valorem assessments shall be paid to the Cheval West Community Development District; and WHEREAS, the Tax Collector, under the direct supervision of the Florida Department of Revenue performs the state work in preparing, mailing out, collecting and enforcing against delinquency the non-ad valorem assessments of the District using the Uniform Collection Methodology for non-ad valorem assessments; and WHEREAS, if the Property Appraiser and the Tax Collector have adopted a different technological procedure for certifying and merging the rolls, then that procedure must be worked out and negotiated with Board approval through the auspices of the District Manager before there are any deviations from the provisions of Section 197.3632, Fla. Stat., and Rule 12D-18, Florida Administrative Code. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF CHEVAL WEST COMMUNITY DEVELOPMENT DISTRICT; Section 1. dispositive. The provisions of the whereas clauses are true and correct and are incorporated herein as Section 2. Budget a. That the Board of Supervisors has reviewed the District Manager's Proposed Budget, a copy of which is on file with the office of the District Treasurer and the office of the Recording Secretary, and is hereby attached to this resolution, and hereby approves certain amendments thereto, as shown in Section 2 below. b. That the District Manager's Proposed Budget, as amended by the Board, is adopted hereby in accordance with the provisions of Section 190.008(2)(a), Florida Statutes and incorporated herein by reference; provided, however, that the comparative figures contained in the adopted budget may be revised subsequently as deemed necessary by the District Manager to reflect actual revenues and expenditures for the Fiscal Year 2018 and/or revised projections for Fiscal Year 2019. c. That the adopted budget, as amended, shall be maintained in the office of the District Treasurer and the District Recording Secretary and identified as The Budget for the Cheval West Community Development District for the Fiscal Year Ending September 30, 2019, as Adopted by the Board of Supervisors on July 19, 2018.