Walkers Green Community Development District
3501 Quadrangle Boulevard, Suite 270, Orlando, FL 32817; 407-723-5900
walkersgreencdd.com

The Auditor Selection Committee Meeting and Board of Supervisors’ Meeting for the Walkers Green Community Development District will be held on Tuesday, August 4, 2026, at 10:00 a.m. at 908 Taylor Road, Port Orange, Florida 32127. Questions or comments on the Board Meeting or proposed agenda may be addressed to Jane Gaarlandt at gaarlandtj@pfm.com or (407) 723-5900. A quorum (consisting of at least three of the five Board Members) will be confirmed prior to the start of the Board Meeting.
If you would like to attend the Board Meeting by phone, you may do so by dialing:

Phone: 1-844-621-3956

Access Code: 2539 895 0958

AUDITOR SELECTION COMMITTEE MEETING AGENDA




Roll Call to Confirm Quorum
Review of Auditing Services Proposals
Berger, Toombs, Elam, Gaines & Frank
Carr, Riggs & Ingram
Grau & Associates
McIntosh CPA
Richie Tandoc PA
Ranking of Auditing Services Proposals (provided under separate cover)



Adjournment

BOARD OF SUPERVISORS’ MEETING AGENDA

Administrative Matters




Roll Call to Confirm Quorum
Public Comment Period [for any member of the public desiring to speak on any proposition before the Board]
Consideration of Minutes:
May 5, 2026, Board of Supervisors’ Meeting

1.



May 5, 2026, Auditor Selection Committee Meeting

2.

Consideration of Resolution 2026-03, Setting an Annual Meeting Schedule for Fiscal Year 2026-2027
Consideration of Resolution 2026-04, Adopting Fiscal Year 2026-2027 Goals, Objectives, Performance Measures, Standards and Annual Reporting

3.

Business Matters
Public Hearing on the Adoption of the District’s Annual Budget
Public Comments and Testimony



Board Comments

A. Consideration of Resolution 2026-05, Adopting the Fiscal Year 2027 Budget

and Appropriating Funds
Consideration of Fiscal Year 2026-2027 Budget Funding Agreement Consideration of Recommendation of the Auditor Selection Committee Review and Acceptance of the Fiscal Year 2025 Audit Report Ratification of Funding Requests Nos. 170 – 178
Review of Monthly Financials

5.
6.
7.
8.
9.

Other Business
Staff Reports





District Counsel District Engineer District Manager
Next Meeting – September 1, 2026

Supervisor Requests and Audience Comments

Adjournment

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

AUDITOR SELECTION COMMITTEE MEETING

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Review of Auditing Services Proposals

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Berger, Toombs, Elam, Gaines & Frank

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Carr, Riggs & Ingram

Professional Services Proposal for
Walkers Green Community Development District

July 15, 2026

Proposer
Carr, Riggs & Ingram
500 Grand Boulevard, Suite 210 Miramar Beach, FL 32550 Phone: 850.837.3141
Fax: 850.654.4619

Submitted by
Lauren Villarreal
Partner, CRI Advisors, Inc.
Partner, Carr, Riggs & Ingram, L.L.C. lvillarreal@criadv.com

†This is not a CPA Firm.
*Assurance, attest, and audit services provided by Carr, Riggs & Ingram, L.L.C.

"Carr, Riggs & Ingram" and "CRI" are the brand names under which Carr, Riggs & Ingram, L.L.C.* ("CRI CPA*"), CRI Advisors, LLC† ("CRI Advisors†" or "Advisors†"), and Capin Crouse, LLC* ("Capin Crouse CPA*"), and CRI Capin Crouse Advisors, LLC† ("Capin Crouse Advisors† ") provide professional services. CRI CPA*, Capin Crouse CPA*, CRI Advisors†, Capin Crouse Advisors†, Carr, Riggs & Ingram Capital, LLC and their respective subsidiaries operate as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations and professional standards. CRI CPA* and Capin Crouse CPA* are licensed independent certified public accounting ("CPA") firms that separately provide attest services, as well as additional ancillary services, to their clients. CRI CPA* and Capin Crouse CPA* are independently-owned CPA firms that provide attestation services separate from one another. CRI Advisors† and Capin Crouse Advisors† provide tax and business consulting services to its clients. CRI Advisors† and its subsidiaries, including Capin Crouse Advisors†, are not licensed CPA firms and will not provide any attest services. The entities falling under the Carr, Riggs & Ingram or CRI brand are independently owned and are not responsible or liable for the services and/or products provided, or engaged to be provided, by any other entity under the Carr, Riggs & Ingram or CRI brand. Our use of the terms "CRI," "we," "our," "us," and terms of similar import, denote the alternative practice structure conducted by CRI CPA*, Capin Crouse CPA*, Capin Crouse Advisors†, and CRI Advisors†, as appropriate.

Dear Walkers Green Community Development District:

We appreciate the opportunity to propose on auditing services to Walkers Green Community Development District. We are eager to establish a long-term partnership that delivers immediate and ongoing value through our tailored solutions and competitive fee structure.

At CRI, our dedicated team of over 2,000 professionals aligns their expertise with your specific needs, ensuring seamless service from the start. CRI delivers big firm expertise with small firm service. Of approximately 46,000 public accounting firms in the United States, CRI currently ranks in the top 25. Additionally, as a part of PrimeGlobal, an association of independent accounting firms, we have access to international resources as – and when – needed. Leveraging these resources while maintaining local decision-making authority means that simplified solutions are only a phone call away. And we believe that’s the best of both worlds for our clients.

Our partners bring over 7,500 years of collective business experience, focusing on delivering solutions that translate complex concepts into actionable insights. We strive to become trusted advisors by understanding your business and proactively contributing to your success. While accounting is the language of business, we’re here to decipher the jargon and help you make educated decisions. CRInnovate embraces agility and invention.

We look forward to the opportunity to showcase our commitment to innovation, expertise, and responsiveness as one of the fastest-growing firms in the U.S. Thank you for considering our proposal.

Sincerely,

Lauren Villarreal
Partner, CRI Advisors, LLC
Partner, Carr, Riggs & Ingram, L.L.C.

CARR, RIGGS & INGRAM ®

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TABLE OF CONTENTS

YOUR NEEDS

UNDERSTANDING & MEETING YOUR NEEDS

4

YOUR SERVICES & FEES

YOUR SERVICES & FEES

5

YOUR CHOICE: CRI

FIRM PROFILE

6

GOVERNMENT & PUBLIC SECTOR

7

RELEVANT EXPERIENCE

8

YOUR SOLUTION TEAM

9

DELIVERING QUALITY TO YOU

11

WORKING TOGETHER: OVERVIEW

SHARING CRI'S VALUES WITH YOU

12

TRANSITIONING YOU

13

CRI'S GLOBAL RESOURCES

14

JOIN OUR CONVERSATION

15

WORKING TOGETHER: DETAILS

CRI AUDIT FRAMEWORK

16

CRI AUDIT APPROACH

18

APPENDIX

APPENDIX A - RFP DOCUMENTS

20

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UNDERSTANDING & MEETING YOUR NEEDS

From the RFP or during our recent visit with your team, we understood your team to express the following needs, requests, and/or issues. We’ve detailed our proposed solutions below and are happy to discuss other related projects as they arise and upon request.

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NEEDS & ISSUES

SOLUTIONS & SERVICES

Technical

The District is required to have independent audits performed on its financial statements.

Perform external audit services in accordance with auditing standards generally accepted in the United States of America (GAAS), in order to express an opinion on the Walkers Green Community Development District’s financial statements.

Relational

The District’s Board of Supervisors and management expect open and
continuous communication with their CPA firm in order to avoid surprise findings at the end of the audit.

Communicate contemporaneously and directly with management regarding the results of
our procedures.

Anticipate and respond to concerns of management and/or the Audit Committee (if/when formed).

YOUR SERVICES AND FEES

We value creating mutually rewarding, long-term relationships with our clients. Our goal is to provide high quality, responsive service that yields returns far greater than your investment in our professional fees. Please find below our proposal of fees to provide the requested services for the upcoming fiscal years.

All of our invoices will include a 7% administrative fee.

The above fee quote is based in part on the fact that the District has not yet issued bonds or other debt instruments to finance capital asset acquisition and construction. In the event the District issues such debt instruments or upon construction of major infrastructure additions, the audit fee will increase by an amount not to exceed $2,500 per year.

If Walkers Green Community Development District requests additional services outside of this proposal, professional fee hourly rates are as follows, but may be negotiated depending on the project request:

Our professional fees are based on the key assumptions that Walkers Green Community Development District will:

•
•

Ensure that the predecessor’s work papers will be made available for timely review, if applicable.
Make available documents and work papers for review at Walkers Green Community Development headquarters location, although we may choose to review at alternate locations.
Prepare certain schedules and analyses and provide supporting documents as requested.

District's

•
•
•

Assist us in obtaining an understanding of the accounting systems of Walkers Green Community Development District. Not experience a significant change in business operations or financial reporting standards.

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CLASSIFICATION

HOURLY RATE

Partner

$325

Manager

$225

Senior

$150

Staff

$110

IT Specialist

$400

Fraud Specialist

$400

SERVICE

CRI FEES 2026

CRI FEES 2027

CRI FEES 2028

CRI FEES 2029

CRI FEES 2030

Perform external audit services in accordance with auditing standards generally accepted in the United States of America (GAAS)

$5,000

$5,000

$5,000

$5,000

$5,000

CRI

FIRM PROFILE

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GOVERNMENT & PUBLIC SECTOR

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RELEVANT EXPERIENCE

CRI delivers a depth of resources that ensures our understanding of your challenges and innovative solutions for overcoming them. Our team’s combined experience is derived from providing audit, tax, consulting, and accounting outsourcing services. We parlay this vast experience and derived best practices into proven solutions that benefit you. Below we share specific, relevant client references; we encourage you to consult with them.

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RELATIONSHIP

TIMELINE

SERVICE
DESCRIPTION

RELEVANT POINTS TO CONSIDER

Rizzetta & Company Shawn Wildermuth 3434 Colwell Avenue
Suite 200
Tampa, FL 33614
813.933.5571

2006 – Present

Annual Financial Statement Audits of Multiple CDDs

Client service experience
Responsiveness to client needs
Long-term relationship
CDD management co.

GMS, LLC
Dave DeNagy
14785 Old St. Augustine Road Suite 4
Jacksonville, FL 32258
904.288.9130

2006 – Present

Annual Financial Statement Audits of Multiple CDDs

Client service experience
Responsiveness to client needs
Long-term relationship
CDD management co.

Wrathell, Hunt & Associates, LLC Jeffrey Pinder
2300 Glades Road Suite 410W
Boca Raton, FL 33431 561.571.0010

2006 – Present

Annual Financial Statement Audits of Multiple CDDs

Client service experience
Responsiveness to client needs
Long-term relationship
CDD management co.

PFM Group Consulting, LLC Jennifer Glasgow
12051 Corporate Blvd.
Orlando, FL 32817
407.382.3256

2007 – Present

Annual Financial Statement Audits of Multiple CDDs

Client service experience
Responsiveness to client needs
Long-term relationship
CDD management co.

YOUR SOLUTION TEAM

Lauren Villarreal
Partner, CRI Advisors, LLC
Partner, Carr, Riggs & Ingram, L.L.C.

lvillarreal@criadv.com
850.337.3223 | Direct

Representative Clients

Experience
Lauren has over 10 years auditing and accounting experience in the Destin office of CRI. She is an audit partner with primary responsibility for fieldwork and reporting on audits of clients in a variety of industries including local governmental and non-profit entities as well as employee benefit plans and commercial businesses. She is currently the in-charge auditor for over two dozen community development districts with several CDD management companies in the State of Florida.

•

Community Development Districts
Condominium and Homeowner Associations Employee Benefit Plans County and Local Governments
Non-Profit Organizations

•

•
•

Lauren is licensed to practice as a Certified Public Accountant in Florida. She is a member of the American Institute of Certified Public Accountants and the Florida Institute of Certified Public Accountants. She exceeds all continuing professional education requirements related to Government Auditing Standards.

•

Lauren currently supervises engagements for many governmental entities in the State of Florida including community development districts and other special governments. She is active in our firm’s governmental industry line as well as the condominium and homeowner association practice. In addition, Lauren has accumulated experience in Federal and Florida Single Audit Acts compliance

monitoring and auditing. Lauren has performed several single audits grants under OMB Circular A-133.

of

federal

Education, Licenses & Certifications

•
•
•
•

BS, Accounting, Florida State University
BS, Business Administration, Florida State University Certified Public Accountant
Community Association Manager (CAM), Licensed in Florida

Professional Affiliations

•
•

American Institute of Certified Public Accountants (AICPA) Florida Institute of Certified Public Accountants (FICPA)

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YOUR SOLUTION TEAM

K. Alan Jowers
Partner, CRI Advisors, LLC
Partner, Carr, Riggs & Ingram, L.L.C.

ajowers@criadv.com
850.337.3213 | Direct

Representative Clients

Experience
Alan has over 30 years of experience in public accounting primarily with financial statement assurance engagements. His practice includes condominium and homeowner associations, local governmental entities, non-profit organizations, and nonpublic companies. He currently has direct engagement responsibility for a significant number of audits throughout the state of Florida and in other states.

•
•

Reynolds Owners Association The Tides of Destin Condominium Association 1075 Peachtree Master Condominium Association Holley by the Sea Improvement Association Destin on the Gulf Condominium Association Santa Rosa County District
School Board
Santa Rosa Island Authority Okaloosa County District
School Board
Monroe County School District

•

Alan is licensed to practice as a certified public accountant in Florida and Georgia. He is a former member of the Board of Directors of the Florida Institute of Certified Public Accountants (FICPA), has been an active member and past chair of its Common Interest Realty Association Committee, and is a member of the Florida and National legislative alliances of the Community Associations Institute. He is also active in the Florida Governmental Finance Officers Association (FGFOA) and is a former member of the FGFOA's statewide Technical Resource Committee.

•

•

•

•
•

Education, Licenses & Certifications

•
•
•

Masters of Accountancy, University of Alabama BS, Accounting, Florida State University
Certified Public Accountant

•

Professional Affiliations

•
•
•

American Institute of Certified Public Accountants (AICPA) Florida Institute of Certified Public Accountants (FICPA)
Community Associations Institute (CAI) - member of the Florida Legislative Alliance and the national Government and Public Affairs Committee
Governmental Finance Officers Association (GFOA)
Florida Governmental Finance Officers Association (FGFOA)

•
•

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DELIVERING QUALITY TO YOU*

AUDIT METHODOLOGY
Our audit, tax, consulting, and client accounting services documentation is maintained electronically. Compliance with our methodology is regularly reviewed and evaluated as part of our internal quality program, which is further discussed in this section under INTERNAL QUALITY CONTROL REVIEWS AND EXTERNAL REVIEWS. Comprehensive policies and procedures governing all of our practices and addressing professional and regulatory standards and implementation issues are constantly updated for new professional developments and emerging issues. See the table of contents to identify the relevant audit approach and methodology detailed description section.

ENGAGEMENT QUALITY REVIEW PARTNER (CONCURRING PARTNER)
Audit engagements are assigned engagement quality review (EQR) partner, as appropriate. This role is one of the most important elements of our quality assurance process, as it provides for a timely, independent review of key accounting and auditing issues. The EQR partner also reviews the financial statements and related supporting documentation—including the disclosures—to evaluate their fair presentation under accounting principles generally accepted in the United States of America (GAAP).

INTERNAL QUALITY CONTROL REVIEWS AND EXTERNAL REVIEWS
Experienced partners and professional staff of our firm conduct quality control reviews of our audits. Our partners’ work is reviewed annually, and the inspection process includes periodic testing of the effectiveness of our quality controls and a continuous improvement program. This risk-based annual inspection is intended to mimic the triennial peer review described in the following paragraph and are performed on completed engagements. In addition to this inspection, we perform in-process, “pre-issuance” reviews of partners’ work that are chosen for using a risk-based selection process; these reviews are performed by our corporate quality control team. The combination of the in-process and completed engagements is part of our continuous improvement processes.

Peer reviews are performed every three years by another independent public accounting firm. The most recent review of our firm was performed in 2025 by Brown Edwards, whose report was the most favorable possible “Pass.”

In addition, we are registered with the PCAOB and our 2024 PCAOB inspection report was also the most favorable possible—no audit deficiencies or quality control defects identified.

The 2024 PCAOB report can be viewed at https://assets.pcaobus.org/pcaob-dev/docs/default-source/inspections/reports/documents/104-2025-016-carrriggs.pdf?sfvrsn=2089984d_2.

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SHARING CRI’S VALUES WITH YOU

We are proud of our hands-on, service-centric, and results-oriented approach. Combining that approach with quality controls and superior talent allows us to help you achieve your goals and strengthen your management systems and processes. This approach is further emphasized through our three core values which guide our team’s behavior and function as the foundation for interactions with our clients and each other.

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TRANSITIONING YOU

When choosing to change firms, the time involved in working with new accounting professionals is often a concern. CRI’s well-defined efficient, seamless transition process is designed to:

•
•
•
•
•

Provide you with value from the very first encounter, Avoid interruption of service,
Minimize disruption and investment of management’s time, Raise the standard of service, and
Establish ongoing channels of communication with Walkers Green Community Development District's management.

The transition plan is comprised of the following key activities and can occur within approximately two weeks, depending on the availability of the parties involved:

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CRI'S GLOBAL RESOURCES

Many businesses are expanding and/or evaluating their global reach, and they require assistance in order to comprehensively consider the various financial implications of growing in international markets. In addition to CRI's internal resources, we deliver the expertise and support of some of the world's most highly regarded accounting firms through shared alliance as members of PrimeGlobal.

WHO IS PRIMEGLOBAL?

HOW OUR PRIMEGLOBAL MEMBERS CAN BENEFIT YOU
We supplement our in-depth, industry knowledge and specialized services through our collaborations with other PrimeGlobal firms to help you evaluate your options globally. CRI's goal is to provide you with the information you need to make well-informed, smart business decisions.

4 KEY BENEFITS TO CRI CLIENTS
FROM OUR PRIMEGLOBAL MEMBERSHIP

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JOIN OUR CONVERSATION

We know that some information that makes perfect sense to an advisor may not be as clear to our clients. Therefore, we produce original content in the form of articles, videos, white papers, webinars, and more to provide timely, down-to-earth translations of complex subjects. We publish this original content on CRIadv.com and across all our many social channels.

CRI: FROM FOUNDATION TO FUTURE

Over a quarter-century, Carr, Riggs & Ingram has not just grown, but transformed. Now standing proudly among the top 25 firms in the U.S., our trajectory is steeped in innovation, shaping us into the firm of tomorrow—today. Our growth isn’t merely a timeline; it’s a testament to our entrepreneurial and pioneering spirit. As we harness cutting-edge technology and lead through industry evolution, our commitment to delivering actionable insights and solutions rooted in our founding principles of tailored Client service, Respect for all, and unyielding Integrity remains unwavering. As we look to the horizon, we at CRI are poised to redefine what’s possible, and we invite our clients, old and new, to join us in shaping the future.

IT FIGURES: THE CRI PODCAST

Created to provide insight into the latest developments and regulations in the accounting and finance space, It Figures is an accounting and advisory focused podcast for business and organization leaders, entrepreneurs, and anyone who is looking to go beyond the status quo.

Listen on Apple Podcasts, Spotify, iHeart Radio, and more.
itfigurespodcast.com

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CRI AUDIT FRAMEWORK*

Our proposed services require a coordinated effort between us and Walkers Green Community Development District’s team. Planning and continual communication are essential to developing the appropriate procedures, working collaboratively to resolve any identified issues, and meeting your timelines.

CRI’s audit approach occurs within a framework of our client’s business and industry; therefore, we assess risk by:

•
•

Understanding management’s perspectives and goals, and
Considering business conditions and threats that could prevent management from achieving its business objectives.

We assess risks in the following areas:

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CRI AUDIT FRAMEWORK*

Our ultimate intent is to drill down from these broad risks to specific financial reporting risks. We understand both these risks and management’s processes and procedures for mitigating them (i.e. internal controls) in order to develop our procedures to carry out our audit responsibilities.

Although our audits are conducted through a structured, risk-based model, we focus on understanding the client’s needs, requirements, and expectations. We work collaboratively with management and the Audit Committee (or similar function) to develop a communication and work plan to continuously improve client service, by doing so we help in moving your team from simple compliance to providing you with a competitive advantage.

In planning, we concentrate on “key risks,” (items with a greater risk of a material misstatement, a material weakness in internal controls, or other matters resulting in the issuance of an inappropriate audit report). We focus on “material” items (i.e. those items that would be important to the user of your financial statements). When evaluating materiality of identified misstatements, certain quantitative and qualitative factors must be considered—which may include:

•
•
•
•

Impact on operating trends (revenue/income, expenses, net income, etc).
Nature of the misstatement (i.e., did the misstatement result from an unlawful transaction?). Impact on liquidity, capital/surplus, earnings capacity, etc.
Impact to loan covenants and contractual and regulatory requirements.

Consistent communication is a key to completion of the audit. By ensuring constant involvement, we are in a better position to respond to your issues timely and efficiently. Therefore, we plan to meet with your management to:

•

Set-up the audit by reviewing the mapping of Walkers Green Community Development District’s financial information (financial statements and notes) to significant processes and IT systems to ensure that all significant account balances, transactions, procedures, and systems are tested as deemed necessary.
Discuss ongoing changes—specifically new accounting pronouncements and key business transactions in their early stages, enabling us to agree on the resolution of various complex business issues on a timely basis.

•

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CRI AUDIT APPROACH*

Our audit approach is a four stage approach, as depicted in the summary below. Our client acceptance and risk assessment procedures occur during detailed conversations and observations with your team. The results of those procedures allow us to tailor an audit program to your specific risks and needs. We then execute the audit, report the results, and evaluate continuous improvement opportunities for ongoing service and benefit to you.

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CRI

AUDIT APPROACH*

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APPENDIX A - RFP DOCUMENTS

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APPENDIX A - RFP DOCUMENTS

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APPENDIX A - RFP DOCUMENTS

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APPENDIX A - RFP DOCUMENTS

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WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Grau & Associates

Proposal to Provide
Financial Auditing Services:
WALKERS GREEN
Community Development District

Due Date: July 15, 2026 5:00PM

Submitted to:
Walkers Green
Community Development District c/o District Manager
3501 Quadrangle Blvd, Suite 270
Orlando, Florida 32817

Submitted by:
Antonio J. Grau, Partner Grau & Associates
1001 Yamato Road, Suite 301 Boca Raton, Florida 33431 Tel	(561) 994-9299

Fax

(561) 994-5823

tgrau@graucpa.com www.graucpa.com

Table of Contents

PAGE
EXECUTIVE SUMMARY / TRANSMITTAL LETTER	1
FIRM QUALIFICATIONS	3
FIRM & STAFF EXPERIENCE	6
REFERENCES	11
SPECIFIC AUDIT APPROACH	13
COST OF SERVICES	17
SUPPLEMENTAL INFORMATION	19

July 15, 2026

Walkers Green Community Development District c/o District Manager
3501 Quadrangle Boulevard, Suite 270
Orlando, Florida 32817

Re:

Request for Proposal for Professional Auditing Services for the fiscal year ended September 30, 2026, with an option for four (4) additional annual renewals.

Grau

& Associates (Grau) welcomes the opportunity to respond to the Walkers Green Community

Development District’s (the “District”) Request for Proposal (RFP), and we look forward to working with

you on your audit. We are an energetic and robust team of knowledgeable professionals and are a recognized leader of providing services to Community Development Districts. As one of Florida’s few firms to primarily focus on government, we are especially equipped to provide you an effective and efficient audit.

Government audits are at the core of our practice: 95% of our work is performing audits for local governments and of that 98% are for special districts. With our significant experience, we are able to increase efficiency, to provide immediate and continued savings, and to minimize disturbances to your operations.

Why Grau & Associates:

Knowledgeable Audit Team
Grau is proud that the personnel we assign to your audit are some of the most seasoned auditors in the field. Our staff performs governmental engagements year-round. When not working on your audit, your team is refining their audit approach for next year’s audit. Our engagement partners have decades of experience and take a hands-on approach to our assignments, which all ensures a smoother process for you.

Servicing your Individual Needs
Our clients enjoy personalized service designed to satisfy their unique needs and requirements. Throughout the process of our audit, you will find that we welcome working with you to resolve any issues as swiftly and easily as possible. In addition, due to Grau’s very low turnover rate for our industry, you also won’t have to worry about retraining your auditors from year to year.

Developing Relationships
We strive to foster mutually beneficial relationships with our clients. We stay in touch year-round, updating, collaborating and assisting you in implementing new legislation, rules and standards that affect your organization. We are also available as a sounding board and assist with technical questions.

Maintaining an Impeccable Reputation
We have never been involved in any litigation, proceeding or received any disciplinary action. Additionally, we have never been charged with, or convicted of, a public entity crime of any sort. We are financially stable and have never been involved in any bankruptcy proceedings.

Complying With Standards
Our audit will follow the Auditing Standards of the AICPA, Generally Accepted Government Auditing Standards, issued by the Comptroller General of the United States, and the Rules of the Auditor General of the State of Florida, and any other applicable federal, state and local regulations. We will deliver our reports in accordance with your requirements.

This proposal is a firm and irrevocable offer for 90 days. We certify this proposal is made without previous understanding, agreement or connection either with any previous firms or corporations offering a proposal for the same items. We also certify our proposal is in all respects fair, without outside control, collusion, fraud, or otherwise illegal action, and was prepared in good faith. Only the person(s), company or parties interested in the project as principals are named in the proposal. Grau has no existing or potential conflicts and anticipates no conflicts during the engagement. Our Federal I.D. number is 20-2067322.

We would be happy to answer any questions or to provide any additional information. We are genuinely excited about the prospect of serving you and establishing a long-term relationship. Please do not hesitate to call or email either of our Partners, Antonio J. Grau, CPA (tgrau@graucpa.com) or Ben Steets, CPA (bsteets@graucpa.com) at 561.994.9299. We thank you for considering our firm’s qualifications and experience.

Very truly yours, Grau & Associates

Antonio J. Grau

2

Firm Qualifications

3

Grau’s Focus and Experience

Our Team

9/17
Employees are CPAS

Year founded

2
Administrative Professionals

3
Partners

12
Professional Staff

Services Provided

Properly registered and licensed professional corporation by the state of FLORIDA

We are proud Members of the American Institute of Certified Public Accountants
&
the Florida Institute of Certified Public Accountants

9
Professional Groups

 External quality review program: consistently receives a pass
 Internal: ongoing monitoring to maintain quality

See next page for report and certificate

AICPA | FICPA | GFOA | FASD | FGFOA

4

5

Firm & Staff Experience

6

Profile Briefs:

Antonio J GRAU, CPA (Partner)
Years Performing Audits: 35+
CPE (last 2 years): Government Accounting, Auditing: 24 hours; Accounting, Auditing and Other: 58 hours
Professional Memberships: AICPA, FICPA, FGFOA, GFOA

Ben Steets, CPA (Partner)
Years Performing Audits: 10+
CPE (last 2 years): Government Accounting, Auditing: 28 hours; Accounting, Auditing and Other: 88 hours
Professional Memberships: AICPA, FICPA, FGFOA, FASD

“Here at Grau & Associates, staying up to date with the current technological landscape is one of our top priorities. Not only does it provide a more positive experience for our clients, but it also allows us to perform a more effective and efficient audit. With the every changing technology available and utilized by our clients, we are constantly innovating our audit process.”

-

Tony Grau

“Quality audits and exceptional client service are at the heart of every decision we make. Our clients trust us to deliver a quality audit, adhering to high standards and assisting them with improvements for their organization.”
- Ben Steets

7

GRAU AND ASSOCIATES COMMUNITY DEVELOPMENT DISTRICT EXPERIENCE BY MANAGEMENT COMPANY

OTHER
19	PFM
12
WRATHELL 30
GMS 78
INFRAMARK 38

MERITUS
SDS	RIZZETTA	23
60	47

YOUR ENGAGEMENT TEAM

Grau’s client-specific engagement team is meticulously organized in order to meet the unique needs of each client. Constant communication within our solution team allows for continuity of staff and audit team. The Certified Information Technology Professional (CITP) Partner will bring

a unique blend of IT expertise statement audit of the District.

and

understanding of

accounting principles

to

the

financial

Engagement Partner

Your
Successful Audit

Audit Manager

CITP Partner

Audit Senior

The assigned personnel will work closely with the partner and the District to ensure that the financial statements and all other reports are prepared in accordance with professional standards and firm policy.
Responsibilities will include planning the audit; communicating with the client and the partners the progress of the audit; and
determining that financial statements and all reports issued by the firm are accurate, complete and are prepared in accordance with professional standards and firm policy.

The Engagement Partner will participate extensively during the various stages of the engagement and has direct responsibility for engagement policy, direction, supervision, quality control, security, confidentiality of information of the engagement and communication with client personnel. The engagement partner will also be involved directing the development of the overall audit approach and plan; performing an overriding review of work papers and ascertain client satisfaction.

8

Antonio ‘Tony ‘J. Grau, CPA
Partner
Contact: tgrau@graucpa.com | (561) 939-6672

Experience
For over 30 years, Tony has been providing audit, accounting and consulting services to the firm’s governmental, non-profit, employee benefit, overhead and arbitrage clients. He provides guidance to clients regarding complex accounting issues, internal controls and operations.
As a member of the Government Finance Officers Association Special Review Committee, Tony participated in the review process for awarding the GFOA Certificate of Achievement in Financial Reporting. Tony was also the review team leader for the Quality Review of the Office of Management Audits of School Board of Miami-Dade County. Tony received the AICPA advanced level certificate for governmental single audits.

Education
University of South Florida (1983)
Bachelor of Arts Business Administration

Clients Served (partial list)
(>300) Various Special Districts, including:

Bayside Improvement Community Development District	St. Lucie West Services District

Dunes Community Development District
Fishhawk Community Development District (I, II, IV) Grand Bay at Doral Community Development District

Ave Maria Stewardship Community District Rivers Edge II Community Development District Bartram Park Community Development District

Heritage Harbor North Community Development District	Bay Laurel Center Community Development District

Boca Raton Airport Authority Greater Naples Fire Rescue District
Key Largo Wastewater Treatment District Lake Worth Drainage District
South Indian River Water Control

Professional Associations/Memberships
American Institute of Certified Public Accountants Florida Government Finance Officers Association Florida Institute of Certified Public Accountants Government Finance Officers Association Member City of Boca Raton Financial Advisory Board Member

Professional Education (over the last two years)
Course
Government Accounting and Auditing Accounting, Auditing and Other
Total Hours

Hours
24
58
82 (includes of 4 hours of Ethics CPE)

9

Ben Steets, CPA, Partner
Contact : bsteets@graucpa.com / (561) 939-6669

Experience
Grau & Associates Grau & Associates Grau & Associates Grau & Associates PCAOB Registered Firm

Partner Manager Senior Auditor Staff Auditor Staff Auditor

2023-Present 2021-2023
2018-2021
2016-2018
2015-2016

Education
Florida Atlantic University (2015)

Clients Served (partial list)

(>300) Various Special Districts Careersource Polk
Central Broward Water Control District Dunes Community Development District Greater Naples Fire Rescue District
Key Marco Community Development District Lake Worth Drainage District
Mae Volen Senior Center
Port of the Islands Community Improvement District

San Carlos Park Fire and Rescue Service District Sanibel Fire and Rescue District
South Broward Drainage District South Trail Fire and Rescue District Town of Highland Beach
Town of Lauderdale-By-The-Sea
Verona Walk Community Development District West Villages Improvement District
Winding Cypress Community Development District

Professional Education (over the last two years)

Course
Government Accounting and Auditing Accounting, Auditing and Other
Total Hours

Hours
28
88
116 (includes 4 hours of Ethics CPE)

Professional Associations/Memberships American Institute of Certified Public Accountants Florida Institute of Certified Public Accountants

10

References

11

We have included three references of government engagements that require compliance with laws and regulations, follow fund accounting, and have financing requirements, which we believe are similar to the District.

 Dunes Community Development District	

Scope of Work Engagement Partner Dates
Client Contact

Financial audit Antonio J. Grau Annually since 1998
Darrin Mossing, Finance Director 475 W. Town Place, Suite 114
St. Augustine, Florida 32092

	904-940-5850	

 Two Creeks Community Development District	

Scope of Work Engagement Partner Dates
Client Contact

Financial audit Antonio J. Grau Annually since 2007
William Rizzetta, President 3434 Colwell Avenue, Suite 200
Tampa, Florida 33614

	813-933-5571	

 Journey’s End Community Development District	

Scope of Work Engagement Partner Dates
Client Contact

Financial audit Antonio J. Grau Annually since 2004
Todd Wodraska, Vice President
2501 A Burns Road
Palm Beach Gardens, Florida 33410

	561-630-4922	

12

Specific Audit
Approach

13

AUDIT APPROACH
Grau’s Understanding of Work Product / Scope of Services:
We recognize the District is an important entity and we are confident our firm is eminently qualified to meet the challenges of this engagement and deliver quality audit services. You would be a valued client of our firm and we pledge to commit all firm resources to provide the level and quality of services (as described below) which not only meet the requirements set forth in the RFP but will exceed those expectations. Grau & Associates fully understands the scope of professional services and work products requested. Our audit will follow the Auditing Standards of the AICPA, Generally Accepted Government Auditing Standards, issued by the Comptroller General of the United States, and the Rules of the Auditor General of the State of Florida and any other applicable Federal, State of Local regulations. We will deliver our reports in accordance with your requirements.

Proposed segmentation of the engagement
Our approach to the audit engagement is a risk-based approach which integrates the best of traditional auditing techniques and a total systems concept to enable the team to conduct a more efficient and effective audit. The audit will be conducted in three phases, which are as follows:

PHASE I:
Preliminary Planning

PHASE II:
Execution of the Audit Plan

PHASE III:
Completion and Delivery

Phase I - Preliminary Planning

A thorough understanding of your organization, service objectives and operating environment is essential for the development of an audit plan and for an efficient, cost-effective audit. During this phase, we will meet with appropriate personnel to obtain and document our understanding of your operations and service objectives and, at the same time, give you the opportunity to express your expectations with respect to the services that we will provide. Our work effort will be coordinated so that there will be minimal disruption to your staff.

During this phase we will perform the following activities:

Review the regulatory, statutory and compliance requirements. This will include a review of applicable federal and state statutes, resolutions, bond documents, contracts, and other agreements;
Read minutes of meetings;
Review major sources of information such as budgets, organization charts, procedures, manuals, financial systems, and management information systems;
Obtain an understanding of fraud detection and prevention systems;
Obtain and document an understanding of internal control, including knowledge about the design of relevant policies, procedures, and records, and whether they have been placed in operation;
Assess risk and determine what controls we are to rely upon and what tests we are going to perform and perform test of controls;
Develop audit programs to incorporate the consideration of financial statement assertions, specific audit objectives, and appropriate audit procedures to achieve the specified objectives; Discuss and resolve any accounting, auditing and reporting matters which have been identified.

»

»
»

»
»

»

»

»

14

Phase II – Execution of Audit Plan
The audit team will complete a major portion of transaction testing and audit requirements during this phase. The procedures performed during this period will enable us to identify any matter that may impact the completion of our work or require the attention of management. Tasks to be performed in Phase II include, but are not limited to the following:
» Apply analytical procedures to further assist in the determination of the nature, timing, and extent of auditing procedures used to obtain evidential matter for specific account balances or classes of transactions;
» Perform tests of account balances and transactions through sampling, vouching, confirmation and other analytical procedures; and
» Perform tests of compliance.
Phase III - Completion and Delivery

In this phase of the audit, we will complete the tasks related to year-end balances and financial reporting. All reports will be reviewed with management before issuance, and the partners will be available to meet and discuss our report and address any questions. Tasks to be performed in Phase III include, but are not limited to the following:

» Perform final analytical procedures;
» Review information and make inquiries for subsequent events; and
» Meeting with Management to discuss preparation of draft financial statements and any potential findings or recommendations.

You should expect more from your accounting firm than a signature in your annual financial report. Our concept of truly responsive professional service emphasizes taking an active interest in the issues of concern to our clients and serving as an effective resource in dealing with those issues. In following this approach, we not only audit financial information with hindsight but also consider the foresight you apply in managing operations.

Application of this approach in developing our management letter is particularly important given the increasing financial pressures and public scrutiny facing today’s public officials. We will prepare the management letter at the completion of our final procedures.

In preparing this management letter, we will initially review any draft comments or recommendations with management. In addition, we will take necessary steps to ensure that matters are communicated to those charged with governance.

In addition to communicating any recommendations, we will also communicate the following, if any:

» Significant audit adjustments;
» Significant deficiencies or material weaknesses;
» Disagreements with management; and
» Difficulties encountered in performing the audit.

15

Our findings will contain a statement of condition describing the situation and the area that needs strengthening, what should be corrected and why. Our suggestions will withstand the basic tests of corrective action:

Is the recommendation cost effective?

Is the recommendation the simplest to effectuate in order to correct a problem?

Is the recommendation at the heart of the problem and not just correcting a symptomatic matter?

Is the corrective action taking into account why the deficiency occurred?

To assure full agreement with facts and circumstances, we will fully discuss each item with Management prior to the final exit conference. This policy means there will be no “surprises” in the management letter and fosters a professional, cooperative atmosphere.

Communications
We emphasize a continuous, year-round dialogue between the District and our management team. We regularly communicate through personal telephone calls and electronic mail throughout the audit and on a regular basis.

Our clients have the ability to transmit information to us on our secure client portal with the ability to assign different staff with separate log on and viewing capability. This further facilitates efficiency as all assigned users receive electronic mail notification as soon as new information has been posted into the portal.

16

Cost of Services

17

Our proposed all-inclusive fees for the financial audit for the fiscal years ended September 30, 2026-2030 are as follows:

  Year Ended September 30,	

	Fee	

2026

$3,400

2027

$3,500

2028

$3,600

2029

$3,700

2030

$3,800

$18,000

TOTAL (2026-2030)

The above fees are based on the assumption that the District maintains its current level of operations. Should conditions change or Bonds are issued the fees would be adjusted accordingly upon approval from all parties concerned.

18

Supplemental Information

19

PARTIAL LIST OF CLIENTS

20

Governmental Audit

Single Audit

Utility Audit

Current Client

Year End

Boca Raton Airport Authority







9/30

Captain's Key Dependent District





9/30

Central Broward Water Control District





9/30

Collier Mosquito Control District





9/30

Coquina Water Control District





9/30

East Central Regional Wastewater Treatment Facility





9/30

Florida Green Finance Authority



9/30

Greater Boca Raton Beach and Park District





9/30

Greater Naples Fire Control and Rescue District







9/30

Green Corridor P.A.C.E. District





9/30

Hobe-St. Lucie Conservancy District





9/30

Indian River Farms Water Control District





9/30

Indian River Mosquito Control District



9/30

Indian Trail Improvement District





9/30

Key Largo Wastewater Treatment District









9/30

Lake Asbury Municipal Service Benefit District





9/30

Lake Padgett Estates Independent District





9/30

Lake Worth Drainage District





9/30

Lealman Special Fire Control District





9/30

Loxahatchee Groves Water Control District



9/30

Old Plantation Water Control District





9/30

Pal Mar Water Control District





9/30

Pinellas Park Water Management District





9/30

Pine Tree Water Control District (Broward)





9/30

Pinetree Water Control District (Wellington)



9/30

Port of The Islands Community Improvement District







9/30

Ranger Drainage District







9/30

Renaissance Improvement District





9/30

San Carlos Park Fire Protection and Rescue Service District





9/30

Sanibel Fire and Rescue District



9/30

South Central Regional Wastewater Treatment and Disposal Board



9/30

South Indian River Water Control District







9/30

South Trail Fire Protection & Rescue District





9/30

Spring Lake Improvement District





9/30

St. Lucie West Services District







9/30

Sunrise Lakes Phase IV Recreation District





9/30

Sunshine Water Control District





9/30

Sunny Hills Units 12-15 Dependent District





9/30

West Villages Improvement District





9/30

Various Community Development Districts (452)





9/30

TOTAL

491

5

4

484

ADDITIONAL SERVICES

CONSULTING / MANAGEMENT ADVISORY SERVICES

Grau & Associates also provide a broad range of other management consulting services. Our expertise has been consistently utilized by Governmental and Non-Profit entities throughout Florida. Examples of engagements performed are as follows:

Accounting systems
Development of budgets
Organizational structures
Financing alternatives
IT Auditing

Fixed asset records
Cost reimbursement
Indirect cost allocation
Grant administration and compliance

ARBITRAGE

The federal government has imposed complex rules to restrict the use of tax-exempt financing. Their principal purpose is to eliminate any significant arbitrage incentives in a tax-exempt issue. We have determined the applicability of these requirements and performed the rebate calculations for more than 150 bond issues, including both fixed and variable rate bonds.

Current Arbitrage Calculations

73

We look forward to providing Walkers Green Community Development District with our resources and experience to accomplish not only those minimum requirements set forth in your Request for Proposal, but to exceed those expectations!

For even more information on Grau & Associates please visit us on www.graucpa.com.

21

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

McIntosh CPA

Independent Audit Service Proposal

2385 NW Executive Center Dr.
Boca Raton, FL 33431
rmcintoshcpa.com

Prepared for Walkers Green Community Development District
Prepared By: McIntosh CPA

July 15, 2026

Table of Contents
Transmittal Letter	2

Statement of Understanding and Scope of Work	3

Qualifications, and Experience	6

Personnel	7

Schedule of Fees	8

Appendix	9

1

Transmittal Letter

July 15, 2026

Board of Supervisors
Walkers Green Community Development District Volusia County, FL

McIntosh CPA is pleased to submit this proposal to provide annual auditing services for the Walkers Green Community Development District (the "District"). Our firm specializes in auditing services for governmental entities, including special districts, ensuring compliance with Florida Statutes, Government Auditing Standards (Yellow Book), and the requirements set forth by the Florida Auditor General. We are a Woman & Minority Business certified by the State of Florida.

While the firm is new, the managing partner has been providing auditing services to special districts for over 18 years and has an impeccable reputation among former clients. With this experience and knowledge, we are uniquely qualified and ready to assist the District with the audit services needed. We are confident that we will not only provide the services required but exceed expectations.

We understand the importance of accountability and fiscal responsibility in government operations. Our audit methodology is designed to provide an efficient, thorough, and collaborative review process while minimizing disruption to your daily operations. Additionally, we are committed to maintaining open communication and delivering clear, actionable recommendations to support the District’s financial integrity and operational efficiency

We have an established reputation for delivering high-quality, timely, and efficient audits. With our extensive experience, we are confident in our ability to provide the District with the highest level of professional service. We acknowledge that this proposal is valid for ninety (90) days following submission.

We thank you for the opportunity to provide a proposal and look forward to working with the District’s team. Please do not hesitate to contact Racquel McIntosh at 2385 NW Executive Center Dr., Suite 100, Boca Raton FL 33431, 561-981-6282, or mcintoshcpa@outlook.com with any questions.

Sincerely,

Racquel McIntosh, CPA President

2

Statement of Understanding and Scope of Work
The Walkers Green Community Development District requires independent audit services for the fiscal years ending September 30, 2026, with an option for four additional one-year renewals. Our firm understands that the audit must comply with:

Chapter 218.39, Florida Statutes
Florida Auditor General’s Rules
Government Auditing Standards (Yellow Book)
Licensure under Chapter 473

The audit will include an examination of the District’s financial records, internal controls, and compliance with applicable laws and regulations.

AUDIT TIMELINE

We recognize the importance of adhering to the District’s annual audit deadline and are fully committed to ensuring a timely and efficient audit process. Racquel McIntosh will be responsible for the firm meeting the required deadline. Our team will strategically plan and execute the audit to ensure that the draft and auditor’s reports are completed well in advance of the deadline, allowing ample time for review and discussion. Additionally, we will maintain open communication throughout the engagement to address any concerns promptly and ensure a smooth and seamless audit experience.

SCOPE OF WORK

Conduct an independent audit in accordance with Government Auditing Standards
Evaluate internal controls and compliance with Florida statutes
Issue audited financial statements with findings and recommendations
Report to the Board of Supervisors on the audit findings
Provide ongoing support for financial and compliance questions

The audit will be performed in the three phases below;

Planning

Fieldwork

Reporting

3

AUDIT PLANNING

This is the most critical part of an audit, as a well planned audit determines the flow and efficiency for the entire audit. Planning consists of the following segments:

Obtain an understanding of the District – we will gain an understanding of the District in order to perform risk assessment for the various segments of the audit. It involves reviewing the policies and procedures, documenting the internal controls of the District, including compliance requirements, and making an initial assessment of inherent risk in order to determine the preliminary risk of material misstatement to the financial statements. It also includes gaining an understanding of the District's IT environment and how that affects
financial reporting.

IT Assessment – we will discuss with management and document the District’s IT infrastructure, including; general controls over the network and the accounting software, and specific controls within the accounting software. We will also discuss access, backups, disaster recovery, and virus protection. These discussions will assist in determining if the IT
infrastructure is adequate to reduce any material financial statement misstatements.

Preliminary analytics – current vs prior year review of accounts to determine and document
causes for fluctuations.

Risk Assessment - Used in conjunction with other planning items above to dictate further audit
procedures.

FIELDWORK

Based on the risk assessment results from planning, a combination of analytical procedures, detail test of transactions, and use of audit confirmations will be applied by the
auditor.

Analytical procedures – these will consist of revenue and expenditure variances from the prior year, variances with the budget, calculating revenue expectations, and reviewing trend
analysis for anomalies.

Test of details – these will consist of tracing and vouching transactions to and from the
accounting records. Will also include testing bond compliance.

4

Audit confirmations – these will be sent to attorneys, tax collector, bond trustees, and other
entities as deemed necessary.

REPORTING

Once the fieldwork has been completed, a draft of the financial statements along with all related audit reports will be prepared for management’s review. McIntosh CPA utilizes a memo to management regarding findings and recommendations not deemed significant and therefore not included in any of the audit reports. The memo will detail the observation and provide a recommendation for corrective action. No management response is required since it will not be presented in any audit report. Before a finding is reported in the audit report, a determination is made as to why the issue occurred and whether it was a one-time occurrence. We ensure that reporting items in the audit report are necessary and that
recommendations are cost beneficial.

For all three phases above, if deficiencies or discrepancies are identified, management will

be informed immediately to give them a chance
information or put corrective measures in place.

to

research

and

provide

additional

5

Qualifications and Experience
INDEPENDENCE

We affirm that McIntosh CPA is independent with respect to the District. We meet the independence standards of Generally Accepted Auditing Standards and the U.S. Government Accountability Office’s Government Auditing Standards.

FIRM QUALIFICATIONS

Licensed under Chapter 473, Florida Statutes
Over 18 years of experience auditing governments
Demonstrated expertise in auditing special districts and financials
Strong track record of timely report delivery and responsiveness

The services as outlined in the statement of understanding will be overseen by Racquel McIntosh CPA, who brings over 18 years of exemplary service in the government auditing and accounting industry. In her previous role, she was an audit partner providing auditing services to municipalities and special districts throughout the State of Florida and was in charge of audit quality for the firm. In addition, she assisted clients with internal policy review, internal control best practices and implementation, and assisted with implementation of accounting software and accounting standards.

Further, she has met the educational requirements for CPAs set forth under Florida Statutes and the Government Auditing Standards (Yellow Book) issued by the Government Accountability Office (GAO). See next page for resume.

Value-Added Service

In addition to providing audit services for the District, Racquel provides an annual training session for the District accounting staff which will include; reviewing items found in the previous year’s audit, accounting treatment for certain transactions, how to respond to auditor inquiry, how to analyze financial statements, and new accounting standards and regulations applicable to the upcoming audit year.

REFERENCES

Below are three districts that the engagement partner has worked on with the named management companies. In total, the engagement partner oversaw and worked on over 200 CDDs.

6

CATALINA AT WRINKLER PRESERVE COMMUNITY DEVELOPMENT DISTRICT

Rizzetta & Company
3434 Colwell Avenue, Suite 200
Tampa, FL 33614

BERRY BAY COMMUNITY DEVELOPMENT DISTRICT

Meritus
2005 Pan Am Circle, Suite 300
Tampa, FL 33607

BRIGHTON LAKES COMMUNITY DEVELOPMENT DISTRICT

Inframark
210 N University Drive Coral Springs, FL 33071

7

8

Schedule of Fees
Below are the all-inclusive fees for the District’s annual financial statement audit

The above fees are based on the District not issuing Bonds in any of the fiscal years. If Bonds
are issued, then fees will be renegotiated.

9

Fiscal Year

Proposed Fee

2026

$4,000

2027

$4,200

2028

$4,400

2029

$4,600

2030

$4,800

Appendix

10

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Richie Tandoc PA

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Ranking of Auditing Services Proposals

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

BOARD OF SUPERVISORS’ MEETING

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Consideration of Minutes:
- May 5, 2026, Board of Supervisors’ Meeting
- May 5, 2026, Auditor Selection Committee
Meeting

MINUTES OF MEETING

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT
Board of Supervisors’ Meeting Tuesday, May 5, 2026, at 10:00 a.m.
908 Taylor Road
Port Orange, Florida 32127

Board Members present at roll call:

Trey Paytas Randy Hudak James Mather

Vice-Chairperson Assistant Secretary Assistant Secretary

Also Present:

Jane Gaarlandt Kwame Jackson Audrey Ryan
Kelsey Hansen

PFM Management Services LLC PFM Management Services LLC PFM Management Services LLC
Cobb Cole

(via phone) (via phone)

FIRST ORDER OF BUSINESS

Roll Call to Confirm Quorum

Ms. Gaarlandt called the meeting to order at approximately 10:03 a.m. and confirmed a quorum. Those in attendance are outlined above.

SECOND ORDER OF BUSINESS

Public Comment Period

There were no members of the public present.

THIRD ORDER OF BUSINESS

Consideration of Minutes of the

August

5,

2025,	Board	of

Supervisors’ Meeting

The Board reviewed the minutes presented.

1

FOURTH ORDER OF BUSINESS

Review and Acceptance of the

Fiscal

Year	2025

Goals

and

Objectives Report

Ms. Gaarlandt noted this is an annual requirement and the report is posted on the District’s website. The goals and objectives have been met.

FIFTH ORDER OF BUSINESS

Consideration of Resolution 2026-01, Designating a Date, Time and Location for the 2026 Landowners’ Election Meeting

Ms. Gaarlandt reviewed the resolution and noted the recommended date is November 5, 2026, the first Thursday of the month, to hold the Landowner’ Election. The meeting will be held at 10:00 a.m., at the current location. The Board is not required to attend, only the
Landowner or Landowner’s Proxy.

SIXTH ORDER OF BUSINESS

Review of Letter from Supervisor of Elections, Volusia County

Ms. Gaarlandt noted that as of April 15, 2026, there are 0 registered voters within the District.

2

ON MOTION by Mr. J. Mather, seconded by Mr. Hudak, with all in favor, the Board approved Resolution 2026-01, Designating a Date, Time, and Location for the 2026 Landowner’s Election Meeting, with a date of November 5, 2026, at 10:00 a.m., at 908 Taylor Road, Port Orange, Florida 32127.

ON MOTION by Mr. T. Paytas, seconded by Mr. Hudak, with all in favor, the Board accepted the Fiscal Year 2025 Goals and Objectives Report.

ON MOTION by Mr. J. Paytas, seconded by Mr. J. Mather, with all in favor, the Board approved the Minutes of the August 5, 2025, Board of Supervisors’ Meeting.

SEVENTH ORDER OF BUSINESS

Appointment of Auditor Selection Committee

Ms. Gaarlandt recommended appointing the Board as the Auditor Selection Committee.

EIGHTH ORDER OF BUSINESS

Consideration of Resolution 2026-02, Approving Fiscal Year 2026-

2027

Proposed

Budget,	and

Setting a Public Hearing Date

Ms. Gaarlandt noted the recommended date to hold the Public Hearing is August 4, 2026, at 10:00 a.m., at the current location. This would coincide with the regular scheduled meeting. It was noted there are no changes to the budget as previously presented, and it
is Developer funded.

There was brief discussion regarding the bond issuance.

NINTH ORDER OF BUSINESS

Ratification of Fiscal Year 2025 Auditor Engagement Letter

Ms. Gaarlandt noted this was previously approved and is solely for ratification.

3

ON MOTION by Mr. T. Paytas, seconded by Mr. Hudak, with all in favor, the Board ratified the Fiscal Year 2025 Auditor Engagement Letter.

ON MOTION by Mr. T. Paytas, seconded by Mr. J. Mather, with all in favor, the Board approved Resolution 2026-02, Approving Fiscal Year 2026-2027 Proposed Budget, and Setting a Public Hearing Date, with a date of August 4, 2026, at 10:00 a.m., at 908 Taylor Road, Port Orange, Florida 32127.

ON MOTION by Mr. T. Paytas, seconded by Mr. J. Mather, with all in favor, the Board appointed the Board as the Auditor Selection Committee.

TENTH ORDER OF BUSINESS

Review and Acceptance of the Fiscal Year 2025 Audit Report

This item was deferred as the report has not been received yet.

ELEVENTH ORDER OF BUSINESS

Ratification of Funding Requests Nos. 149 – 169

Ms. Gaarlandt noted these are for standard District expenses.

TWELFTH ORDER OF BUSINESS

Review of Monthly Financials

Ms. Gaarlandt noted that the financials are through March 2026.

No action was required by the Board.

THIRTEENTH ORDER OF BUSINESS

Staff Reports

District Counsel – No report.

District Engineer – No report.

District Manager – Ms. Gaarlandt reminded the Board the next meeting is scheduled for June 2, 2026. The Board agreed to cancel this meeting.

Ms. Gaarlandt reminded the Board of the Form 1, due July 1. The Form must be completed online. She also noted the annual Ethics Training is due December 31. She recommended that once completed, to send confirmation to District Management for records keeping.

FOURTEENTH ORDER OF BUSINESS

Supervisor

Requests

and

Audience Comments

There were no Supervisor requests or audience comments.

4

ON MOTION by Mr. T. Paytas, seconded by Mr. J. Mather, with all in favor, the Board approved Funding Requests Nos. 149 – 169.

FIFTEENTH ORDER OF BUSINESS

Adjournment

There was no further business to discuss.

Ms. Gaarlandt requested a motion to adjourn the meeting.

Secretary / Assistant Secretary

Chairperson / Vice Chairperson

5

ON MOTION by Mr. T. Paytas, seconded by Mr. Hudak, with all in favor, the May 5, 2026, Board of Supervisor’s Meeting for the Walkers Green Community Development District was adjourned.

MINUTES OF MEETING

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT
Auditor Selection Committee Meeting Tuesday, May 5, 2026, at 10:00 a.m.
908 Taylor Road
Port Orange, Florida 32127

Committee Members present at roll call:

James Mather Trey Paytas Randy Hudak

Committee Member Committee Member Committee Member

Also Present:

Jane Gaarlandt Kwame Jackson Audrey Ryan
Kelsey Hansen

PFM Management Services LLC PFM Management Services LLC PFM Management Services LLC
Cobb Cole

(via phone) (via phone)

FIRST ORDER OF BUSINESS

Roll Call to Confirm Quorum

Ms. Gaarlandt called the meeting to order at approximately 10:16 a.m. and confirmed a quorum. Those in attendance are outlined above.

SECOND ORDER OF BUSINESS

Public Comment Period

There were no members of the public present.

THIRD ORDER OF BUSINESS

Review and Approval of Audit Documents:





Audit RFP Notice Instructions to Proposers Evaluation Criteria – With and Without Price

Ms. Gaarlandt gave an overview of the audit documents and noted the recommendation is evaluation criteria with price.

There was brief discussion regarding the tentative proposers. It was noted that the District expects to issue bonds in 2027.

1

Ms. Gaarlandt gave an overview of the RFP documents.

FOURTH ORDER OF BUSINESS

Adjournment

There was no further business to discuss.

Ms. Gaarlandt requested a motion to adjourn the meeting.

Secretary / Assistant Secretary

Chairperson / Vice Chairperson

2

ON MOTION by Mr. T. Paytas, seconded by Mr. J. Mather, with all in favor, the May 5, 2026, Auditor Selection Committee Meeting for the Walkers Green Community Development District was adjourned.

ON MOTION by Mr. T. Paytas, seconded by Mr. Hudak, with all in favor, the Board approved the Audit Documents and Evaluation Criteria with Price.

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Consideration of Resolution 2026-03, Setting an Annual Meeting Schedule for Fiscal Year 2026-2027

RESOLUTION 2026-03

A	RESOLUTION  OF	THE	BOARD	OF  SUPERVISORS  OF	THE

WALKERS

GREEN

COMMUNITY

DEVELOPMENT

DISTRICT

ADOPTING THE ANNUAL MEETING SCHEDULE FOR FISCAL YEAR 2026-2027; AND PROVIDING FOR AN EFFECTIVE DATE

Whereas, the Walkers Green Community Development District (the “District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, and situated entirely within the City of Daytona Beach, Florida; and

Whereas, the District is required by Section 189.015, Florida Statutes, to file quarterly, semi-annually, or annually a schedule (including date, time, and location) of its regular meetings with local governing authorities; and

Whereas, further, in accordance with the above-referenced statute, the District shall also publish quarterly, semi-annually, or annually the District’s regular meeting schedule in a newspaper of general paid circulation in the county in which the District is located; and

WHEREAS, the Board desires to adopt the Fiscal Year 2026-2027 annual meeting schedule attached as Exhibit A.

NOW

THEREFORE	BE

IT

RESOLVED WALKERS

BY

THE	BOARD

OF

SUPERVISORS

OF

THE

GREEN

COMMUNITY

DEVELOPMENT DISTRICT:

Section 1.

The Fiscal Year 2026-2027 annual meeting schedule attached

hereto and incorporated by reference herein as Exhibit A is hereby approved and shall be published in accordance with the requirements of Florida law and also provided to applicable governing authorities.

Section 2.
adoption.

This  Resolution  shall  become  effective  immediately  upon  its

Passed and adopted this 4th day of August, 2026.

ATTEST:

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary

Chairperson, Board of Supervisors

Exhibit A

BOARD OF SUPERVISORS’ MEETING DATES WALKERS GREEN
COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025-2026

The Board of Supervisors of the Walkers Green Community Development District will hold their regular meetings for the Fiscal Year 2026-2027 at 908 Taylor Rd, Port Orange, FL 32127 at 10:00 a.m., unless otherwise indicated, as follows:

October 6, 2026
November 3, 2026
December 1, 2026
January 5, 2027
February 2, 2027
March 2, 2027
April 6, 2027
May 4, 2027
June 1, 2027
July 6, 2027
August 3, 2027
September 7, 2027

The meetings are open to the public and will be conducted in accordance with the provision of Florida Law for Community Development Districts. The meetings may be continued to a date, time, and place to be specified on the record at the meeting. A copy of the agenda for these meetings may be obtained from PFM Management Services LLC, or by calling (407) 723-5900.

There may be occasions when one or more Supervisors or staff will participate by telephone. Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations at this meeting because of a disability or physical impairment should contact the District Office at (407) 723-5900 at least 48 hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) / 1-800-955-8770 (Voice), for aid in contacting the District Office.

A person who decides to appeal any decision made at the meeting with respect to any matter considered at the meeting is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based.

District Manager

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Consideration of Resolution 2026-04, Adopting Fiscal Year 2026-2027 Goals, Objectives, Performance Measures, Standards and Annual Reporting

RESOLUTION 2026-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WALKERS GREEN
COMMUNITY DEVELOPMENT DISTRICT ADOPTING GOALS, OBJECTIVES, AND PERFORMANCE MEASURES AND STANDARDS; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, The Walkers Green Community Development District (the “District”) is a local
unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes; and

WHEREAS, effective July 1, 2024, the Florida Legislature adopted House Bill 7013, codified
as Chapter 2024-136, Laws of Florida (“HB 7013”) and creating Section 189.0694, Florida Statutes; and

WHEREAS, pursuant to HB 7013 and Section 189.0694, Florida Statutes, beginning
October 1, 2025, the District shall establish goals and objectives for the District and create performance measures and standards to evaluate the District’s achievement of those goals and objectives; and

WHEREAS, the District Manager has prepared the attached goals, objectives, and
performance measures and standards and presented them to the Board of the District; and

WHEREAS, the District’s Board of Supervisors (“Board”) finds that it is in the best interests
of the District to adopt by resolution the attached goals, objectives and performance measures and standards.

NOW,	THEREFORE,	BE	IT	RESOLVED	BY	THE	BOARD	OF

SUPERVISORS

OF

THE

WALKERS	GREEN

COMMUNITY

DEVELOPMENT DISTRICT:

SECTION 1.

The recitals so stated are true and correct and by this reference are

incorporated into and form a material part of this Resolution.

SECTION 2.

The District Board of Supervisors hereby adopts the goals, objectives and

performance measures and standards as provided in Exhibit A. The District Manager shall take
all actions to comply with Section 189.0694, Florida Statutes, and shall prepare an annual report regarding the District’s success or failure in achieving the adopted goals and objectives for consideration by the Board of the District.

SECTION 3.

If any provision of this resolution is held to be illegal or invalid, the other

provisions shall remain in full force and effect.

SECTION 4.

This resolution shall become effective upon its passage and shall remain in

effect unless rescinded or repealed.

1

PASSED AND ADOPTED this 4th day of August 2026.

ATTEST:

WALKERS GREEN COMMUNITY DEVELOPMENT
DISTRICT

Secretary/Assistant Secretary

Chairman, Board of Supervisors

Exhibit A: Performance Measures/Standards and Annual Reporting

2

Exhibit A

3

Exhibit A:
Goals, Objectives and Annual Reporting Form
Walkers Green Community Development District

Performance Measures/Standards & Annual Reporting Form

October 1, 2026 – September 30, 2027

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

Goal 1.2: Notice of Meetings Compliance
Objective: Provide public notice of each meeting at least seven days in advance, as specified in Section 190.007(1), using at least two communication methods.
Measurement: Timeliness and method of meeting notices as evidenced by posting to CDD website, publishing in local newspaper and via electronic communication.
Standard: 100% of meetings were advertised with 7 days notice per statute on at least two mediums (i.e., newspaper, CDD website, electronic communications).
Achieved: Yes  No 

Goal 1.3: Access to Records Compliance
Objective: Ensure that meeting minutes and other public records are readily available and easily accessible to the public by completing monthly CDD website checks.
Measurement: Monthly website reviews will be completed to ensure meeting minutes and other public records are up to date as evidenced by District Management’s records. Standard: 100% of monthly website checks were completed by District Management. Achieved: Yes  No 

2. Financial Transparency and Accountability Goal 2.1: Annual Budget Preparation
Objective: Prepare and approve the annual proposed budget by June 15 and final budget was adopted by September 30 each year.
Measurement: Proposed budget was approved by the Board before June 15 and final budget was adopted by September 30 as evidenced by meeting minutes and budget documents listed on CDD website and/or within district records.
Standard: 100% of budget approval & adoption were completed by the statutory deadlines and posted to the CDD website.
Achieved: Yes  No 

Goal 2.2: Financial Reports
Objective: Publish to the CDD website the most recent versions of the following documents: Annual audit, current fiscal year budget with any amendments, and most recent financials within the latest agenda package.
Measurement: Annual audit, previous years’ budgets, and financials are accessible to the public as evidenced by corresponding documents on the CDD’s website.
Standard: CDD website contains 100% of the following information: Most recent annual audit, most recent adopted/amended fiscal year budget, and most recent agenda package with updated financials.
Achieved: Yes  No 

Goal 2.3: Annual Financial Audit
Objective: Conduct an annual independent financial audit per statutory requirements and publish the results to the CDD website for public inspection, and transmit to the State of Florida.
Measurement: Timeliness of audit completion and publication as evidenced by meeting minutes showing board approval and annual audit is available on the CDD’s website and transmitted to the State of Florida.
Standard: Audit was completed by an independent auditing firm per statutory requirements and results were posted to the CDD website and transmitted to the State of Florida.
Achieved: Yes  No 

Chair/Vice Chair:	
Print Name:	

Date:	

District Manager:	
Print Name:	

Date:	

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Public Hearing on the Adoption of the District’s Annual Budget

-
-
-

Public Comments and Testimony Board Comments
Consideration of Resolution 2026-05, Adopting the Fiscal Year 2027 Budget and Appropriating Funds

RESOLUTION 2026-05

THE ANNUAL APPROPRIATION RESOLUTION OF THE WALKERS

GREEN

COMMUNITY

DEVELOPMENT

DISTRICT

(“DISTRICT”)

RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGETS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2026, AND ENDING SEPTEMBER 30, 2027; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Walkers Green Community Development District (the “District”) was established by Ordinance No. 2020-273, adopted by the City Commission of The City of Daytona Beach, Florida, effective as of September 9, 2020; and

WHEREAS, the District Manager has prepared and submitted to the Board of Supervisors of the Walkers Green Community Development District (the “Board”) the proposed budget for the Fiscal Year 2026-2027 which concludes September 30, 2027; and

WHEREAS, the Board set 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, the District Manager posted the Proposed Budgets on the District’s website at least two days before the public hearing; and

WHEREAS, Section 190.008(2)(a), Florida Statutes, requires that, prior to October of each year, the Board, by passage of the Annual Appropriation Resolution, shall

1st

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, 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.

NOW,	THEREFORE,	BE	IT	RESOLVED	BY	THE	BOARD	OF

SUPERVISORS

OF	THE

WALKERS	GREEN

COMMUNITY

DEVELOPMENT DISTRICT:

SECTION 1. BUDGET

a.

The Board has reviewed the Proposed Budgets, a copy of which are on file with the office of the District Manager and at the District’s Local Records Office, and hereby approves certain amendments thereto, as shown in Section 2 below.

1

b.

The Proposed Budget, attached hereto as Exhibit “A,” as amended by the Board, is hereby adopted in accordance with the provisions of Section 190.008(2)(a), Florida Statutes (“Adopted Budget”), and incorporated herein by reference; provided, however, that the comparative figures contained in the Adopted Budgets may be subsequently revised as deemed necessary by the District Manager to reflect actual revenues and expenditures.

c.

The Adopted Budget, as amended, shall be maintained in the office of the District Manager and at the District’s Local Records Office and identified as “The Budget for the Walkers Green Community Development District for the Fiscal Year Ending September 30, 2027”.

d.

The Adopted Budget shall be posted by the District Manager on the District’s official website within thirty (30) days after adoption, and shall remain on the website for at least 2 years.

SECTION 2. APPROPRIATIONS

There is hereby appropriated out of the revenues of the District, for Fiscal Year 2026-2027 the sum of $	 to be raised by the levy of assessments and/or otherwise, which sum is deemed by the Board to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated in the following fashion:

TOTAL GENERAL FUND (FISCAL YEAR 2026-2027) $	

SECTION 3. BUDGET AMENDMENTS

Pursuant to Section 189.016, Florida Statutes, the District at any time within the Fiscal Years or within 60 days following the end of the Fiscal Years may amend its Adopted Budget for that fiscal year as follows:

a.

The Board may authorize an increase or decrease in line-item appropriations within a fund by motion recorded in the minutes if the total appropriations of the fund do not increase.

b.

The District Manager or Treasurer may authorize an increase or decrease in line item appropriations within a fund if the total appropriations of the fund do not increase and if the aggregate change in the original appropriation item does not exceed $10,000 or 10% of the original appropriation.

2

c.

By resolution, the Board may increase any appropriation item and/or fund to reflect receipt of any additional unbudgeted monies and make the corresponding change to appropriations or the unappropriated balance.

d.

Any other budget amendments shall be adopted by resolution and consistent with Florida law.

The

District Manager or Treasurer must establish administrative procedures to

ensure that any budget amendments are in compliance with this Section 3 and Section 189.016, Florida Statutes, among other applicable laws. Among other procedures, the

District Manager or Treasurer must ensure that any amendments to budget under subparagraphs c. and d. above are posted on the District’s website within 5 days after adoption and remain on the website for at least 2 years.

SECTION 4. EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 4TH DAY OF AUGUST 2026.

ATTEST:

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

By:	

Secretary/Assistant Secretary

Its:	

Exhibit A:

Fiscal Year 2026-2027 General Fund Budget

3

Exhibit A
FY2026-2027 General Fund Budget

4

Walkers Green CDD
Proposed FY 2027 Budget

PFM Management Services LLC
3501 Quadrangle Blvd Suite 270
Orlando, FL 32817
407-723-5900

Walkers Green CDD
FY 2027 Proposed O&M Budget

FY 2027
Approved Proposed Budget

Actuals Through 06/30/2026

FY 2026
Adopted Budget

Anticipated Jul - Sept

Anticipated FY 2026 Totals

Revenues
Developer Contributions Interest Income
Net Revenues
General & Administrative Expenses
Supervisor Fees
Public Officials' Insurance Trustee Services Management Engineering
Disclosure Agent Assessment Administration District Counsel
Audit
Travel and Per Diem Telephone
Postage & Shipping Copies
Legal Advertising Miscellaneous
Web Site Maintenance Dues, Licenses, and Fees Electric
Tax Preparation Fee Landscaping Irrigation
Additional Insurance General Insurance
Total General & Administrative Expenses
Total Expenses

$

25,000.00
495.80

$

26,461.70
-

$

51,461.70
495.80

$ 118,295.00
-

$ 118,295.00
-

$

25,495.80

$

26,461.70

$

51,957.50

$ 118,295.00

$ 118,295.00

$

- 2,774.00
- 19,687.50
237.60
-
- 96.00
4,750.00
87.06
- 2.96
- 106.25
- 2,130.00
175.00
- 9.63
-
- 500.00
3,389.00

$

-
-
- 6,562.50
3,750.00
-
- 5,000.00
- 125.00
- 37.50
- 500.00
927.50
1,110.00
-
-
-
-
-
-
-

$

- 2,774.00
- 26,250.00
3,987.60
-
- 5,096.00
4,750.00
212.06
- 40.46
- 606.25
927.50
3,240.00
175.00
- 9.63
-
- 500.00
3,389.00

$

2,000.00
3,000.00
6,000.00
26,250.00
15,000.00
5,000.00
7,500.00
20,000.00
5,000.00
500.00
50.00
150.00
50.00
2,000.00
3,710.00
3,240.00
175.00
2,000.00
20.00
11,000.00
1,500.00
500.00
3,650.00

$

2,000.00
3,100.00
6,000.00
26,250.00
15,000.00
5,000.00
7,500.00
20,000.00
5,000.00
500.00
50.00
150.00
50.00
2,000.00
3,410.00
3,240.00
175.00
2,000.00
20.00
11,000.00
1,500.00
550.00
3,800.00

$

33,945.00

$

18,012.50

$

51,957.50

$ 118,295.00

$ 118,295.00

 $	33,945.00 

 $  18,012.50 

 $  51,957.50 

 $ 118,295.00 

 $ 118,295.00 

Net Income (Loss)

 $	(8,449.20)

 $	8,449.20 

 $	-	

 $	-	

 $	-	

Page 1 of 4

Walkers Green Community Development District O & M Budget Item Description

Revenues:
Developer Contributions:
Funding from the developer.

General & Administrative Expenses:

Supervisor Fees:

Chapter 190 of the Florida Statutes allows for a member of the Board of Supervisors to be compensated for meeting attendance and to receive up to $200.00 per meeting plus payroll taxes. The amount for the Fiscal Year is based upon all supervisors attending the meetings.

Public Officials’ Insurance:

Supervisors' and Officers' liability insurance.

Trustee Services:

The Trustee submits invoices annually for services rendered on bond series. These fees are for maintaining the District trust accounts.

Management:

The District receives Management and Administrative services as part of a Management Agreement with PFM Group Consulting, LLC. These Services are further outlined in Exhibit "A" of the Management Agreement.

Engineering:

The District’s engineer provides general engineering services to the District. Among these services are attendance at and preparation for monthly board meetings, review of invoices, and all other engineering services as requested by the District throughout the year.

Disclosure Agent:
When bonds are issued for the District, the Bond Indenture requires continuing disclosure, which the disclosure agent provides to the trustee and bond holders.
Assessment Administration:

The District can 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. It is typically collected via the Tax Collector. The District Manager submits an Assessment Roll to the Tax Collector annually by the deadline set by the Tax Collector or Property Appraiser.

Page 2 of 4

Walkers Green Community Development District O & M Budget Item Description

District Counsel:

The District's legal counsel provides general legal services to the District. Among these services are attendance at and preparation for monthly board meetings, review of operating and maintenance contracts, and all other legal services as requested by the District throughout the year.

Audit:

Chapter 218 of the Florida Statutes requires a District to conduct an annual financial audit by an Independent Certified Public Accounting firm. Some exceptions apply.

Travel & Per Diem:
Travel to and from meetings as related to the District.
Telephone:

Telephone and fax machine services.

Postage & Shipping:

Mail, overnight deliveries, correspondence, etc.

Copies:

Printing and binding Board agenda packages, letterhead, envelopes, and copies.

Legal Advertising:

The District will incur expenditures related to legal advertising. The items for which the District will advertise include, but are not limited to monthly meetings, special meetings, and public hearings for the District.

Miscellaneous:

Other administrative and grounds expenses incurred throughout the year.

Website Maintenance:
Website maintenance fee.

Dues, Licenses, and Fees:

The District is required to pay an annual fee to the Department of Economic Opportunity.

Electric:
Electricity to maintain district property.
Tax Preparation Fee:
The IRS requires the annual 1099 processing to be electronically filed. These are the fee association with the electronic filing using tax1099.com.

Page 3 of 4

Walkers Green Community Development District O & M Budget Item Description

Landscaping:
Contracted landscaping and Common Area Maintenance within the boundaries of the District.

Irrigation:
Inspection and repair of irrigation system.
Additional Insurance:

Additional liability insurance.
General Insurance:

General liability insurance.

Page 4 of 4

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Consideration of Fiscal Year 2026-2027 Budget Funding Agreement

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026-2027 BUDGET FUNDING AGREEMENT

This Agreement (“Agreement”) is made and entered into this 4th day of August, 2026, by and between:

Walkers Green Community Development District, a local unit of
special-purpose government established pursuant to Chapter 190, Florida Statutes, with a mailing address of c/o PFM Management Services LLC, 3501 Quadrangle Boulevard, Suite 270, Orlando, Florida 32817(the "District"), and

Walkers Green Development, LLC, a Florida Limited Partnership, with a mailing address of 1215 Gessner Road, Houston, TX 77055.

RECITALS

Whereas, the District was established by Ordinance No. 2020-273, adopted by the City Commission of the City of Daytona Beach, Florida, for the purpose of planning, financing, constructing, operating and/or maintaining certain infrastructure; and

Whereas, the District, pursuant to Chapter 190, Florida Statutes, is authorized to levy such taxes, special assessments, fees and other charges as may be necessary in furtherance of the District's activities and services; and

WHEREAS, Developer presently owns and is developing portions of all real property described in Exhibit A, attached hereto and incorporated herein by reference (“Property”) within the District, which Property will benefit from the timely construction and acquisition of the District's facilities, activities and services and from the continued operations of the District; and

Whereas, the District is adopting its General Fund Budget for the Fiscal Year 2026-2027, which concludes on September 30, 2027 (“Budget”); and

WHEREAS, the Budget, which both parties recognize may be amended from time to time in the sole discretion of the District, is attached hereto and incorporated herein by reference as Exhibit B; and

Whereas, the District has the option of levying non-ad valorem assessments on all land, including the Property, that will benefit from the activities, operations and services set forth in the Budget, or utilizing such other revenue sources as may be available to it; and

WHEREAS, in lieu of levying assessments on the Property, Developer is willing to provide such funds as are necessary to allow the District to proceed with its operations as described in Exhibit B; and

WHEREAS, Developer agrees that the District activities, operations and services provide a special and peculiar benefit equal to or in excess of the costs reflected on Exhibit B to the Property; and

WHEREAS, Developer has agreed to enter into this Agreement in lieu of having the District levy and collect any non-ad valorem assessments as authorized by law against the Property located within the District for the activities, operations and services set forth in Exhibit B; and

WHEREAS, Developer and the District desire to secure such budget funding through the imposition of a continuing lien against the Property described in Exhibit A and otherwise as provided herein.

Now, therefore, based upon good and valuable consideration and the mutual covenants of the parties, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

Section 1.

The recitals stated above are true and correct and by this reference are

incorporated herein as a material part of this Agreement.

Section 2.

Developer agrees to make available to the District the monies necessary

for the operation of the District as called for in the Budget attached hereto as Exhibit B, as may be amended from time to time in the District’s sole discretion, within fifteen (15) days of written request by the District. Amendments to the District’s Budget as shown on Exhibit B adopted by the District at a duly noticed meeting shall have the effect of amending this Agreement without further action of the parties. Funds provided hereunder shall be placed in the District's general checking account. In no way shall the foregoing in any way affect the District’s ability to levy special assessments upon the property within the District, including any property owned by Developer, in accordance with Florida law, to provide funds for any unfunded expenditures whether such expenditures are the result of an amendment to the District’s Budget or otherwise. These payments are made by Developer in lieu of taxes, fees, or assessments which might otherwise be levied or imposed by the District.

Section 3.

The District shall have the right to file a continuing lien upon the Property

described in Exhibit A for all payments due and owing under the terms of this Agreement and

for interest thereon, and for reasonable attorneys’ fees, paralegals’ fees, expenses and court costs incurred by the District incident to the collection of funds under this Agreement or for enforcement of this lien, and all sums advanced and paid by the District for taxes and payment on account of superior interests, liens and encumbrances in order to preserve and protect the District’s lien. The lien shall be effective as of the execution of this Agreement. If Developer fails to pay sums due according to the terms of this Agreement, at the District Manager’s direction, the District may bring an action at law against the record title holder to the Property to pay the amount due under this Agreement, or may foreclose the lien against the Property in any manner authorized by law. The District may partially release any filed lien for portions of the Property subject to a plat if and when Developer has demonstrated, in the District’s sole discretion, that such release will not materially impair the ability of the District to enforce the collection of funds hereunder.

Section 4.

This Section provides for alternative methods of collection. In the event

Developer fails to make payments due to the District pursuant to this Agreement, and the District

first provides Developer with written notice of the delinquency to the address identified in this

2

Agreement and such delinquency is not cured within five (5) business days of the notice, then the District shall have the following remedies:

A.

In the alternative or in addition to the collection method set forth in Section 2

above, the District may enforce the collection of funds due under this Agreement by

action against Developer in the appropriate judicial forum in and for Volusia County, Florida. The enforcement of the collection of funds in this manner shall be in the sole discretion of the District Manager on behalf of the District. In the event that either party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the substantially prevailing party shall be entitled to recover from the other all costs incurred, including reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.

B.

The District hereby finds that the activities, operations and services set forth in

Exhibit B provide a special and peculiar benefit to the Property, which benefit is initially allocated on an equal developable acreage basis. Developer agrees that the activities, operations and services set forth in Exhibit B provide a special and peculiar benefit to the Property equal to or in excess of the costs set forth in Exhibit B, on an equal developable acreage basis. Therefore, in the alternative, or in addition to the other methods of collection set forth in this Agreement, the District, in its sole discretion, may choose to certify amounts due hereunder as a non-ad valorem assessment on all or any part of the Property for collection, either through the Uniform Method of Collection set forth in Chapter 197 or under any method of direct bill and collection authorized by Florida law. Such assessment, if imposed, may be certified on the next available tax roll of the Polk County property appraiser. Developer hereby waives and/or relinquishes any

rights it may have to challenge, object to or otherwise fail to pay such assessments if imposed, as well as the means of collection thereof.

Section 5.

This instrument shall constitute the final and complete expression of the

agreement between the parties relating to the subject matter of this Agreement. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by both of the parties hereto.

Section 6.

The execution of this Agreement has been duly authorized by the

appropriate body or official of all parties hereto, each party has complied with all the

requirements of law, and each party has full power and authority to comply with the terms and provisions of this instrument.

Section 7.

This Agreement may be assigned, in whole or in part, by either party only

upon the written consent of the other, which consent shall not be unreasonably withheld.

Section 8.

A default by either party under this Agreement shall entitle the other to all

remedies available at law or in equity, which shall include, but not be limited to, the right of damages, injunctive relief and specific performance and specifically including the ability of the District to enforce any and all payment obligations under this Agreement in the manner described herein in Sections 3 and 4 above.

3

Section 9.

This Agreement is solely for the benefit of the formal parties herein and

no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third

party not a formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the parties hereto and their respective representatives, successors and assigns. In the event Developer sells or otherwise disposes of its business or of all or substantially all of its assets relating to improvements, work product, or lands within the District, Developer shall continue to be bound by the terms of this Agreement and additionally shall expressly require that the purchaser agrees to be bound by the terms of this Agreement. In the event of such sale or disposition, Developer may place into escrow an amount equal to the then unfunded portion of the applicable adopted Budget to fund any budgeted expenses that may arise during the remainder of the applicable fiscal year. Upon confirmation of the deposit of said funds into escrow, and evidence of an assignment to, and assumption by the purchaser, of this Agreement, Developer’s obligation under this Agreement shall be deemed fulfilled and this Agreement terminated. Developer shall give 90 days prior written notice to the District under this Agreement of any such sale or disposition.

Section 10. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida. The parties agree and consent to, for the purposes of venue, the exclusive jurisdiction of the courts of Polk County, Florida.

Section 11. This Agreement has been negotiated fully between the parties as an arm's length transaction. The parties participated fully in the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are each deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any party.

Section 12. Developer understands and agrees that all documents of any kind provided to the District in connection with this Agreement may be public records and treated as such in accordance with Florida law.

Section 13.

This Agreement may be executed in any number of counterparts, each of

which when executed and delivered shall be an original; however, all such counterparts together shall constitute, but one and the same instrument. Signature and acknowledgment pages, if any,

may be detached from the counterparts and attached to a single copy of this document to physically form one document.

Section 14. This Agreement shall be effective after execution by both parties hereto. The enforcement provisions of this Agreement shall survive its termination, until all payments due under this Agreement are paid in full.

[Signatures on next page]

4

In witness whereof, the parties execute this Agreement the day and year first written

above.

ATTEST:

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary

Chairperson, Board of Supervisors

WITNESS:

WALKERS GREEN DEVELOPMENT, LLC

Witness

By: 	  Its: 	

Exhibit A: Exhibit B:

Property Description
Fiscal Year 2026-2027 General Fund Budget

5

Exhibit A Property Description

6

Exhibit B

FY2026-2027 General Fund Budget

7

Walkers Green CDD
FY 2027 Proposed O&M Budget

FY 2027
Approved Proposed Budget

Actuals Through 06/30/2026

FY 2026
Adopted Budget

Anticipated Jul - Sept

Anticipated FY 2026 Totals

Revenues
Developer Contributions Interest Income
Net Revenues
General & Administrative Expenses
Supervisor Fees
Public Officials' Insurance Trustee Services Management Engineering
Disclosure Agent Assessment Administration District Counsel
Audit
Travel and Per Diem Telephone
Postage & Shipping Copies
Legal Advertising Miscellaneous
Web Site Maintenance Dues, Licenses, and Fees Electric
Tax Preparation Fee Landscaping Irrigation
Additional Insurance General Insurance
Total General & Administrative Expenses
Total Expenses

$

25,000.00
495.80

$

26,461.70
-

$

51,461.70
495.80

$ 118,295.00
-

$ 118,295.00
-

$

25,495.80

$

26,461.70

$

51,957.50

$ 118,295.00

$ 118,295.00

$

- 2,774.00
- 19,687.50
237.60
-
- 96.00
4,750.00
87.06
- 2.96
- 106.25
- 2,130.00
175.00
- 9.63
-
- 500.00
3,389.00

$

-
-
- 6,562.50
3,750.00
-
- 5,000.00
- 125.00
- 37.50
- 500.00
927.50
1,110.00
-
-
-
-
-
-
-

$

- 2,774.00
- 26,250.00
3,987.60
-
- 5,096.00
4,750.00
212.06
- 40.46
- 606.25
927.50
3,240.00
175.00
- 9.63
-
- 500.00
3,389.00

$

2,000.00
3,000.00
6,000.00
26,250.00
15,000.00
5,000.00
7,500.00
20,000.00
5,000.00
500.00
50.00
150.00
50.00
2,000.00
3,710.00
3,240.00
175.00
2,000.00
20.00
11,000.00
1,500.00
500.00
3,650.00

$

2,000.00
3,100.00
6,000.00
26,250.00
15,000.00
5,000.00
7,500.00
20,000.00
5,000.00
500.00
50.00
150.00
50.00
2,000.00
3,410.00
3,240.00
175.00
2,000.00
20.00
11,000.00
1,500.00
550.00
3,800.00

$

33,945.00

$

18,012.50

$

51,957.50

$ 118,295.00

$ 118,295.00

 $	33,945.00 

 $  18,012.50 

 $  51,957.50 

 $ 118,295.00 

 $ 118,295.00 

Net Income (Loss)

 $	(8,449.20)

 $	8,449.20 

 $	-	

 $	-	

 $	-	

Page 1 of 4

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Consideration of Recommendation of the Auditor Selection Committee

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Review and Acceptance of the Fiscal Year 2025 Audit Report

June 5, 2026

To the Board of Supervisors,
Walkers Green Community Development District:

We have audited the financial statements of Walkers Green Community Development District (the District) as of and for the years ended September 30, 2025, and have issued our report thereon dated June 5, 2026. Professional standards require that we advise you of the following matters relating to our audit.

Our Responsibility in Relation to the Financial Statement Audit

As communicated in our engagement letter dated November 1, 2021, our responsibility, as described by professional standards, is to form and express an opinion about whether the financial statements that have been prepared by management with your oversight are presented fairly, in all material respects, in accordance with accounting principles generally accepted in the United States of America. Our audit of the financial statements does not relieve you or management of your respective responsibilities.

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

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

We have provided our findings regarding significant control deficiencies over financial reporting and material noncompliance, and other matters noted during our audit in a separate letter to you dated June 5, 2026.

Planned Scope and Timing of the Audit

We conducted our audit consistent with the planned scope and timing we previously communicated to you.

Compliance with All Ethics Requirements Regarding Independence

The engagement team, others in our firm, as appropriate, our firm, and our network firms have complied with all relevant ethical requirements regarding independence.

We have applied safeguards related to our assistance related to the preparation of the District’s financial statements, including, but not limited to, an assessment of management’s skill, knowledge, and experience, and by obtaining a completed financial statement disclosure checklist from management.

Walkers Green Community Development District June 5, 2026
Page 2

Significant Risks Identified

Professional standards require that we, as auditors, identify significant risks that impact the audit based upon the nature of the organization and design our audit procedures to adequately address those risks. As part of the audit process, we have identified the following significant risks, which are being communicated solely to comply with auditing standards and do not represent any specific finding and/or concerns related to the audit:




Override of internal controls by management Improper revenue recognition due to fraud

Our audit was designed to adequately address the above risks and no issues were noted that impacted our ability to render an opinion on the financial statements.

Qualitative Aspects of the Entity’s Significant Accounting Practices

Significant Accounting Policies

Management has the responsibility to select and use appropriate accounting policies. A summary of the significant accounting policies adopted by the District is included in Note 1 to the financial statements. There have been no initial selection of accounting policies and no changes in significant accounting policies or their application during 2025. No matters have come to our attention that would require us, under professional standards, to inform you about (1) the methods used to account for significant unusual transactions and (2) the effect of significant accounting policies in controversial or emerging areas for which there is a lack of authoritative guidance or consensus.

Significant Accounting Estimates and Related Disclosures

Accounting estimates and related disclosures are an integral part of the financial statements prepared by management and are based on management’s current judgments. Those judgments are normally based on knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ markedly from management’s current judgments. We did not identify any significant accounting estimates.

Financial Statement Disclosures

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

The Related Party Transactions note summarizes the District’s related party transactions with the developer.

Significant Unusual Transactions

For purposes of this communication, professional standards require us to communicate to you significant unusual transactions identified during our audit. We identified no significant unusual transactions as result of our audit procedures.

Identified or Suspected Fraud

We have not identified nor have we obtained information that indicates that fraud may have occurred.

Walkers Green Community Development District June 5, 2026
Page 3

Significant Difficulties Encountered during the Audit

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

Uncorrected and Corrected Misstatements

For purposes of this communication, professional standards also require us to accumulate all known and likely misstatements identified during the audit, other than those that we believe are trivial, and communicate them to the appropriate level of management. Further, professional standards require us to also communicate the effect of uncorrected misstatements related to prior periods on the relevant classes of transactions, account balances or disclosures, and the financial statements as a whole and each applicable opinion unit.The attached schedule summarizes uncorrected financial statement misstatements whose effects in the current and prior periods, as determined by management, are immaterial, both individually and in the aggregate, to the financial statements taken as a whole. Uncorrected misstatements or matters underlying those uncorrected misstatements could potentially cause future-period financial statements to be materially misstated, even though the uncorrected misstatements are immaterial to the financial statements currently under audit.There were no such misstatements identified.

In addition, professional standards require us to communicate to you all material, corrected misstatements that were brought to the attention of management as a result of our audit procedures. None of the misstatements identified by us as a result of our audit procedures and corrected by management were material, either individually or in the aggregate, to the financial statements taken as a whole or applicable opinion units.

Disagreements with Management

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

Circumstances that Affect the Form and Content of the Auditor’s Report

For purposes of this letter, professional standards require that we communicate any circumstances that affect the form and content of our auditor’s report. We identified no circumstances that affect the form and content of our auditors’ report as a result of our audit procedures.

Representations Requested from Management

We have requested certain written representations from management, which are included in the management representation letter dated June 5, 2026.

Management’s Consultations with Other Accountants

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

Walkers Green Community Development District June 5, 2026
Page 4

Other Significant Matters, Findings, or Issues

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

Other Information in Documents Containing Audited Financial Statements

Pursuant to professional standards, our responsibility as auditors for other information in documents containing the District’s audited financial statements does not extend beyond the financial information identified in the audit report, and we are not required to perform any procedures to corroborate such other information. However, in accordance with such standards, we have read the introductory and statistical sections, as outlined in the table of contents, for material consistency with its presentation in the financial statements.

Our responsibility also includes communicating to you any information which we believe is a material misstatement of fact. Nothing came to our attention that caused us to believe that such information or its manner of presentation, is materially inconsistent with the information, or manner of its presentation, appearing in the financial statements.

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

Respectfully,

JAMES MOORE & CO., P.L.

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT TABLE OF CONTENTS
SEPTEMBER 30, 2025

Independent Auditors’ Report

1 - 3

Management’s Discussion and Analysis

4 - 7

Financial Statements

Government-wide Financial Statements

Statement of Net Position

9

Statement of Activities

10

Fund Financial Statements

Balance Sheet – Governmental Funds

11

Reconciliation of the Balance Sheet  Governmental Funds to the Statement of Net Position

12

Statement of Revenues, Expenditures and Changes in Fund Balance – Governmental Funds

13

Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities

14

Notes to Financial Statements

15 - 19

Required Supplementary Information

Schedule of Revenues, Expenditures and Changes in Fund Balances - General Fund - Budget and Actual

22

Other Reports

Independent Auditors’ 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

24 - 25

Independent Auditors’ Management Letter Required by
Chapter 10.550, Rules of the State of Florida, Office of the Auditor General

26 - 28

Independent Accountants’ Examination Report

29

INDEPENDENT AUDITORS’ REPORT

To the Board of Supervisors,
Walkers Green Community Development District:

Opinions

We have audited the financial statements of the governmental activities and each major fund of the Walkers Green Community Development District (the District), as of and for the year ended September 30, 2025, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the District as of September 30, 2025, and the respective changes in financial position and the respective budgetary comparison for the general and special revenue fund for the year then ended in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinions

We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards (GAS), issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the District and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Responsibilities of Management for the Financial Statements

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

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.

- 1 -

Auditors’ Responsibilities for the Audits of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and GAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing audits in accordance with GAAS and GAS, we:

•
•

Exercise professional judgment and maintain professional skepticism throughout the audits.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audits in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for a reasonable period of time.

•

•

•

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audits, significant audit findings, and certain internal control–related matters that we identified during the audits.

Required Supplementary Information

Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis and required supplementary information, as listed in the table of contents, 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.

- 2 -

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated June 5, 2026, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and 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 internal control over financial reporting or on compliance. That report is an integral part of an audit performed in

accordance with Government Auditing financial reporting and compliance.

Standards in

considering

the

District’s

internal control

over

Daytona Beach, Florida June 5, 2026

- 3 -

Walkers Green Community Development District Management’s Discussion and Analysis

As management of the Walkers Green Community Development District (the District), we offer readers of the District's financial statements this narrative overview and analysis of the financial activities of the District for the fiscal year ended September 30, 2025.

Financial Highlights

•

The assets of the Walkers Green Community Development District exceeded its liabilities at the close of the 2025 fiscal year by $18,456 (net position), all of which is unrestricted.

Overview of the Financial Statements

This discussion and analysis is intended to serve as an introduction to the District's basic financial statements. The District's basic financial statements comprise 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 of the District's assets and liabilities, with the difference between the two 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 (e.g., uncollected taxes and earned but unused vacation leave). The governmental activities of the District include general government. The government-wide financial statements can be found on pages 9-10 of this report.

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. All of the funds of the District are governmental funds.

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 government'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

- 4 -

so, readers may better understand the long-term impact of the government’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 one individual governmental funds, the General Fund. The General Fund is reported as a major fund.

Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures and changes in fund balances for the major funds.

The District adopts an annual appropriated budget for its General Fund. A budgetary comparison statement has been provided for the general fund to demonstrate compliance with this budget. The basic governmental fund financial statements can be found on pages 11-14 of this report.

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. The notes to the financial statements can be found on pages 15-19 of this report.

Government-wide Financial Analysis

The following is a summary of the District’s governmental activities net position for each of the past two years:

	2025	

	2024	

Change

ASSETS
Current and other assets Total assets

 $	18,756 
 $	18,756 

 $	11,568 
 $	11,568 

$
$

7,188
7,188

LIABILITIES
Current liabilities Total liabilities

 $	300 
 $	300 

 $	2,751 
 $	2,751 

$
$

(2,451)
(2,451)

NET POSITION
Unrestricted Total net position

 $	18,456 
 $	18,456 

 $	8,817 
 $	8,817 

$
$

9,639
9,639

As noted earlier, net position may serve over time as a useful indicator of a government's financial position. In the case of the District, assets exceeded liabilities by $18,456 at the close of the 2025 fiscal year. The full amount of the District's net position, $18,456, reflects its unrestricted funds at year-end.

- 5 -

The following is a summary of the changes in the District’s governmental activities net position for each of the past two years:

	2025	

	2024	

	Change	

Reve nue s:
Program revenues: Grants and contributions
General revenues:
Interest and other revenues Total revenues

$

50,000

$

25,000

$

25,000

	785 
 $	50,785 

	770 
 $	25,770 

	15 
 $	25,015 

Expe nse s:
General government Total expenses

 $	41,146 
 $	41,146 

 $	40,525 
 $	40,525 

 $	621 
 $	621 

Change in net position Net position, beginning Net position, ending

$

9,639

$

(14,755)

$

24,394

	8,817 
 $	18,456 

	23,572 
 $	8,817 

	(14,755)

$

9,639

Governmental activities

Governmental activities decreased

the

District's net position by $9,639.

This amount is

primarily

attributable to operations leveling out as the District becomes established.

•

The District’s total revenues related to governmental activities increased by approximately $25,000 from the prior year of $25,000. The factors that contributed to an increase in revenues are an increase in developer contributions as the District began full operations in 2022 and operations leveling out as the District becomes established.

•

Expenses related to governmental activities remained consistent with the prior year.

Governmental funds 

As of the end of the fiscal year 2025, the District's governmental funds reported combined ending fund balances of $18,456, a decrease of approximately $9,639 in comparison with the prior year.

Capital Asset and Debt Administration

The District did not have any capital assets or long-term liabilities for the current or prior years.

Other Factors

Walkers Green Community Development District is an independent special district that operates under the provisions of Chapter 190, Florida Statutes. The District operates under an elected Board of Supervisors, which establishes policy and sets assessment rates. Budgeted developer contributions and user fee revenues for fiscal year 2025 were established to provide for the operations of the district as well as the necessary debt service requirements.

- 6 -

Requests for Information

This financial report is designed to provide a general overview of the District's finances for all those with an interest in the government's finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to the Walkers Green Community Development District’s management company at 3501 Quadrangle Blvd Suite 270, Orlando, Florida 32817.

- 7 -

BASIC FINANCIAL STATEMENTS

- 8 -

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT STATEMENT OF NET POSITION
SEPTEMBER 30, 2025

Governmental Activities

ASSETS
Cash and cash equivalents Prepaids
Total assets

$

12,093
6,663
18,756

$

LIABILITIES
Accounts payable and accrued liabilities Total liabilities

$

300

$

300

NET POSITION
Unrestricted Total net position

$
$

18,456
18,456

The accompanying notes to financial statements are an integral part of this statement.

- 9 -

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2025

Net (Expense) Revenue and Changes
in Net Position

Program Revenues

Operating Grants and Contributions

Capital Grants and Contributions

Charges for Services

Governmental Activities

Functions/Programs

Expenses

Governmental activities: General government
Total governmental activities

$

41,146

$

-

$

50,000

$

-

$

8,854

$

41,146

$

-

$

50,000

$

-

8,854

General revenues:
Interest income
Total general revenues and transfers Change in net position
Net position - beginning of year Net position - ending of year

785

785

9,639
8,817

$

18,456

The accompanying notes to financial statements are an integral part of this statement.

- 10 -

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT BALANCE SHEET
GOVERNMENTAL FUNDS SEPTEMBER 30, 2025

General Fund

ASSETS
Cash and cash equivalents Prepaid items
Total assets

$

12,093
6,663

$

18,756

LIABILITIES
Accounts payable and accrued liabilities Total liabilities

$

300

300

FUND BALANCES
Nonspendable: Prepaid items
Unassigned
Total fund balances

6,663
11,793

18,456

Total liabilities and fund balances

$

18,756

The accompanying notes to financial statements are an integral part of this statement.

- 11 -

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION
SEPTEMBER 30, 2025

Fund balances - total governmental funds

$

18,456

No reconciling items in current year

Net position of governmental activities

$

18,456

The accompanying notes to financial statements are an integral part of this statement.

- 12 -

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2025

General Fund

Revenues
Developer contributions Interest income
Total revenues

$

50,000
785

50,785

Expenditures
Current:
General government Total expenditures

41,146

41,146

Net change in fund balances

9,639

Fund balances, beginning of year

8,817

Fund balances, end of year

$

18,456

The accompanying notes to financial statements are an integral part of this statement.

- 13 -

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED SEPTEMBER 30, 2025

Net change in fund balances - total governmental funds

$

9,639

No reconciling items in current year

Change in net position of governmental activities

$

9,639

The accompanying notes to financial statements are an integral part of this statement.

- 14 -

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2025

(1)	Summary of Significant Accounting Policies:

The financial statements of the Walkers Green Community Development District (the District), have been prepared in conformance with accounting principles generally accepted in the United States of America as applicable to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted body for promulgating governmental accounting and financial reporting principles and the District has adopted the GASB Codification. The following is a summary of the District’s significant accounting policies:

(a) Reporting entityThe Walkers Green Community Development District (the “District”) was established on September 9, 2020, pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes, by the District of Daytona Beach. 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 a Board of Supervisors (the Board), which is comprised of five members. The Supervisors are elected on an at-large basis by the owners of the property within the District. The Board exercises all powers granted to the District pursuant to Chapter 190, Florida Statutes. Certain Board members are affiliated with Masroc Land, L.P. (the Developer).

The Board has the final responsibility for allocating and levying assessments, approving budgets, exercising control over facilities and properties, controlling the use of funds generated by the District, approving the hiring and firing of key personnel, financing improvements, and other key matters of the District.

In evaluating how to define the government, for financial reporting purposes, management has considered all potential component units. The decision to include or exclude a potential component unit in the reporting entity was made by applying the criteria set forth by Generally Accepted Accounting Principles (GAAP) as defined by the Governmental Accounting Standards Board (GASB). Based on the foregoing criteria, no potential component units were found.

(b) Government-wide and fund financial statementsThe government-wide financial statements (i.e., the statement of net position and the statement of changes in net position) report aggregated information for the overall government for all of the activities of the primary government. These statements do not report fiduciary funds or fiduciary component units such as retirement trust funds. Those activities are reported only in fund financial statements. The effect of interfund activity has been removed from these statements.

Governmental activities, which normally are supported by assessments, are reported separately from business-type activities, which are financed wholly or partially by fees charged to external parties for goods or services and are reported in enterprise funds. However, at September 30, 2025, the District did not have any significant business-type activities. Therefore, no business-type activities are reported.

- 15 -

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2025

(1)

Summary of Significant Accounting Policies: (Continued)

The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Indirect costs are included in the program expense reported for individual functions and activities. Program revenues include (1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment and (2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Assessments and other items not properly included as program revenues (i.e., charges to customers or applicants who purchase, use, or directly benefit from goods or services) are reported as general revenues.

Separate financial statements are provided for each governmental fund. Major individual governmental funds are reported as separate columns in the fund financial statements.

Measurement focus, basis of accounting, and financial statement presentationThe

(c)

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 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 District considers revenues to be available if they are collected within 60 days of the end of the current fiscal period except for grant revenues which are considered earned when expenditures are incurred. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures are recorded only when payment is due.

Developer contributions, user fee revenue, and interest associated with the current fiscal period are all considered to be susceptible to accrual and have been recognized as revenues of the current fiscal period. All other revenue items are considered to be measurable and available only when cash is received by the District. Certain grant funds have been received in advance and are considered unearned revenue until such time as they are expended as part of the infrastructure construction project.
The District reports the following major governmental fund:
General FundThe General Fund is the principal fund of the District which accounts for all financial transactions not accounted for in other funds. The majority of current operating expenditures of the District are financed through revenues received by the General Fund.

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

Amounts reported as program revenues include 1) charges to customers for goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments (when applicable). Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes.

- 16 -

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2025

(1)

Summary of Significant Accounting Policies: (Continued)

(d)	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.

(e) Budgets and budgetary accountingThe District is required to establish a budgetary system and an approved annual budget. Annual budgets are legally adopted on a basis consistent with GAAP for the General Fund. Any revision to the budget must be approved by the Board. The budgets are compared to actual expenditures. In instances where budgeted appropriations and estimated revenues have been revised during the year, budget data presented in the financial statements represent final authorization amounts. The legal level of control is at the fund level.

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 comments.
Prior to October 1, the budget is legally adopted by the District Board.
All budget changes must be approved by the District Board.
Budgets are adopted on a basis consistent with accounting principles generally accepted in the United States of America.

Deposits and investmentsThe District’s cash and cash equivalents are considered to be

(f)

cash on hand, demand deposits, and short-term investments with original maturities of three months or less from the date of acquisition.

(g) Fund balanceIn the fund financial statements, governmental funds report fund balance classifications that comprise a hierarchy based primarily on the extent to which the District is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. Those classifications are as follows:

Nonspendable – The nonspendable fund balance classification includes amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact.

Restricted – Fund balance is reported as restricted when constraints placed on the use of resources are either externally imposed by creditors (such as through debt covenants), grantors, contributors, or laws or regulations of other governments or imposed by law through constitutional provisions or enabling legislation (i.e., when the government assesses, levies, charges, or otherwise mandates payment of resources (from external resource providers) and includes a legally enforceable requirement that those resources be used only for the specific purposes stipulated in the legislation

Committed – Fund balance amounts that can only be used for specific purposes pursuant to constraints imposed by ordinance of the District Board are reported as committed fund balance.

Assigned – Fund balance amounts that are constrained by the government's intent to be used for specific purposes, but are neither restricted nor committed, are reported as assigned fund balance, except for stabilization arrangements.

Unassigned – Unassigned fund balance is the residual classification for the general fund. This classification represents fund balance that has not been assigned to other funds and that has not been restricted, committed, or assigned to specific purposes within the general fund.

- 17 -

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2025

(1)

Summary of Significant Accounting Policies: (Continued)

When both restricted and unrestricted resources are available for use, it is the District’s policy to use restricted resources first, then unrestricted resources as they are needed. When committed, assigned, or unassigned resources are available for use in the governmental fund financial statements, it is the government’s policy to use committed resources first, followed by assigned resources, then unassigned resources as needed.
Net position flow assumptionSometimes the District will fund outlays for a particular purpose from both restricted and unrestricted resources. In order to determine amounts reported as restricted and unrestricted net position, it is the District’s policy to consider restricted net position to have been used before unrestricted net position is applied.
Impact feesThe District has not adopted any ordinances or resolutions to levy impact fees in accordance with Section 163.31801, Florida Statutes.

Use of estimatesManagement uses estimates and assumptions in preparing financial

(j)

statements in accordance with generally accepted accounting principles. Those estimates and

assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenue and expenses. Actual results could vary from the estimates assumed in preparing the financial statements.
Reconciliation of Government-Wide and Fund Financial Statements:

(2)

(a)

Explanation of certain differences between the governmental fund balance sheet and the

government-wide statement of net positionFollowing the governmental fund balance sheet is a

reconciliation between fund balance – total governmental funds and net position – governmental activities as reported in the government-wide statement of net position. A detailed explanation of these differences is provided in this reconciliation.
(b) Explanation of certain differences between the governmental fund statement of revenues, expenditures, and changes in fund balances and the government-wide statement of activities Following the governmental fund statement of revenues, expenditures, and changes in fund balances, there is a reconciliation between net changes in fund balances - total governmental funds and changes in net position of governmental activities as reported in the government-wide statement of activities. A detailed explanation of these differences is provided in this reconciliation.

(3)

Deposits and Investments:

The District’s cash and cash equivalents consist of legally authorized demand deposits in accordance with Section 218.415, Florida Statutes. The institutions in which these deposits are kept are certified as Qualified Public Depositories under the Florida Public Deposits Act. Therefore, in addition to applicable Federal Depository Insurance Corporation (FDIC) insurance, these balances on deposit at September 30, 2025, are insured or collateralized through the Bureau of Collateral Management, Florida Department of Financial Services. The District was exposed to no significant custodial credit or other risk related to its cash and investment activities.

(4)	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; injuries to employees; and natural disasters, all of which is satisfactorily insured by limited risk, high deductible commercial general liability insurance. Commercial insurance policies are also obtained for other risks of loss, including employee health and accident insurance.

- 18 -

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2025

Settled claims resulting from these risks have not exceeded commercial insurance coverage in any of the past four years.

(5)	Management Company:

The District has contracted with a management company to perform management advisory services, which include financial and accounting advisory services. Certain employees of the management company also serve as officers (Board appointed non-voting positions) of the District. Under the agreement, the District compensates the management company for management, accounting, financial reporting, and other administrative costs. For the period ended September 30, 2025, the District paid the management company $25,000 and had a payable to the management company for $2,083 at year end.

(6)	Related Party Transactions:
The Developer contributed $50,000 during the year for operations and maintenance costs in connection with an agreement to fund certain expenditures as they are incurred. No amount due from the Developer at September 30, 2025.

A significant portion of the District’s activity is dependent upon the continued involvement of the Developer, Masroc Land, L.P., the loss of which could have a material adverse effect on the District’s operations.

(7)

Interlocal Agreement:

In 2016, the District entered into agreements with the City of Daytona Beach (the City) and Volusia County (the County) to received funding for the construction, operation, and maintenance of a phased high quality, mixed-use retail and entertainment development to be known as “Walkers Green.” Estimated construction costs for the development total $16,328,486. There has been no construction or issuance of debt in relation to the agreement as of year-end.

(8)

Recent Accounting Pronouncements:

GASB has issued several pronouncements that have effective dates that may impact future financial statements. Listed below are pronouncements with required implementation dates effective for subsequent fiscal years that have not yet been implemented. Management has not currently determined what, if any, impact implementation of the following will have on the City’s financial statements:

GASB issued Statement No. 103, Financial Reporting Model Improvements, in April 2024. The objective of GASB 103 is to improve key components of the financial reporting model to enhance its effectiveness in providing information that is essential for decision making and assessing a government’s accountability. The effective date for implementation is fiscal years beginning after June 15, 2025, and all reporting periods thereafter.

GASB issued Statement No. 104, Disclosure of Certain Capital Assets, in September 2024. GASB Statement No. 104 requires governments to disclose separate information about specific types of capital assets and establishes criteria for identifying and reporting capital assets held for sale. The objective of GASB 104 is to enhance transparency and improve the usefulness of financial statements for stakeholders by providing more detailed information on these assets. The provisions are effective for fiscal years beginning after June 15, 2025GASB issued Statement No. 102, Certain Risk Disclosures, in December 2023.

GASB issued Statement No. 105, Subsequent Events, in December 2025. GASB Statement No. 105 clarifies the subsequent events time frame and establishes accounting and disclosure requirements for recognized and nonrecognized subsequent events. The provisions of GASB Statement No. 105 are effective for fiscal years beginning after June 15, 2026.

- 19 -

REQUIRED SUPPLEMENTARY INFORMATION

- 20 -

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL - GENERAL FUND FOR THE YEAR ENDED SEPTEMBER 30, 2025

Variance with Final Budget - Positive (Negative)

Budgeted Amounts

Original

Final

Actual

Revenues
Developer contributions Interest income
Total revenues

$

118,295
-

$

118,295
-

$

50,000
785

$

(68,295)
785

118,295

118,295

50,785

(67,510)

Expenditures
Current:
General government Total expenditures

118,295

118,295

41,146

77,149

118,295

118,295

41,146

77,149

Net change in fund balances

-

-

9,639

9,639

Fund balances, beginning of year

8,817

8,817

8,817

-

Fund balances, end of year

$

8,817

$

8,817

$

18,456

$

9,639

The accompanying notes to financial statements are an integral part of this schedule.

- 21 -

OTHER REPORTS

- 23 -

INDEPENDENT AUDITORS’ 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,
Walkers Green Community Development District:

We have audited, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to the financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States (Government Auditing Standards), the financial statements of the governmental activities and each major fund of the Walkers Green Community Development District (the District), as of and for the year ended September 30, 2025, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements and have issued our report thereon dated June 5, 2026.

Report on Internal Control over Financial Reporting

In planning and performing our audit of the financial statements, we considered the District's internal control over financial reporting (internal control) as a basis for designing 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 District'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 over financial reporting 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 and therefore, material weaknesses or significant deficiencies may exist that were not identified. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified.

- 24 -

Report on Compliance and Other Matters

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

Purpose of this Report

The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District’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 District’s internal Accordingly, this communication is not suitable for any other purpose.

control

and

compliance.

Daytona Beach, Florida June 5, 2026

- 25 -

INDEPENDENT AUDITORS’ MANAGEMENT LETTER REQUIRED BY CHAPTER 10.550, RULES OF THE STATE OF FLORIDA OFFICE OF THE AUDITOR GENERAL

To the Board of Supervisors,
Walkers Green Community Development District:

Report on the Financial Statements

We have audited the basic financial statements of Walkers Green Community Development District (the District), as of and for the fiscal year ended September 30, 2025, and have issued our report thereon dated June 5, 2026.

Auditors’ 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 the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, and Chapter 10.550, Rules of the State of Florida Office of the Auditor General.

Other Reporting Requirements

We have issued our Independent Auditors’ 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; Independent Auditors’ Report on Compliance for Each Major Federal Program and Report on Internal Control over Compliance; Schedule of Findings and Questioned Costs; and Independent Accountants’ 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 and schedule, which are dated June 5, 2026, should be considered in conjunction with this management letter.

Prior Audit Findings

Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. There were no such findings and recommendations. No repeat findings exist from the second preceding audit.

Official Title and Legal Authority

Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in this management letter, unless disclosed in the notes to the financial statements. The legal authority for the primary government of the reporting entity is disclosed in Note 1 of the basic financial statements.

- 26 -

Financial Condition and Management

Section 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, require us to apply appropriate procedures and communicate the results of our determination as to whether or not the District met one or more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific conditions met. In connection with our audit, we determined that the District, did not meet any of the conditions described in Section 218.503(1), Florida Statutes.

Pursuant to Sections 10.554(1)(i)5.b. and 10.556(8), Rules of the Auditor General, we applied financial condition assessment procedures for the District. It is management’s responsibility to monitor the District’s 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.

Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations.

Special District Component Units

Section 10.554(1)(i)5.c., Rules of the Auditor General, requires, if appropriate, that we communicate the failure of a special district that is a component unit of a county, municipality, or special district, to provide the financial information necessary for proper reporting of the component unit within the audited financial statements of the county, municipality, or special district in accordance with Section 218.39(3)(b), Florida Statutes. In connection with our audit, we did not note any special district component units that failed to provide the necessary information for proper reporting in accordance with Section 218.39(3)(b), Florida Statutes.

Specific Special District Information – Walkers Green Community Development District

The following items have been provided to us to comply with state reporting requirements and have not been audited by us. We did not audit the following information within this section, nor were we required to perform any procedures to verify the accuracy, or the completeness of the information provided by management. We do not express an opinion, a conclusion, nor provide any form of assurance on this data.

As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor General, the Walkers Green Community Development District reported the following unaudited data:

a)

The total number of district employees compensated in the last pay period of the district’s

fiscal year: 0.

b)

The total number of independent contractors to whom nonemployee compensation was paid in

the last month of the district’s fiscal year: 3.

c)

All compensation earned by or awarded to employees, whether paid or accrued, regardless of

contingency: $0.

d)

All compensation earned by or awarded to nonemployee independent contractors, whether

paid or accrued, regardless of contingency: $31,061.

e)

Each construction project with a total cost of at least $65,000 approved by the district that is

scheduled to begin on or after October 1 of the fiscal year being reported, together with the total expenditures for such project as:

a.

No such projects noted.

- 27 -

f)

A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes,

before the beginning of the fiscal year being reported if the district amends a final adopted budget

under Section 189.016(6), Florida Statutes, as follows: there were no amendments between the original and final total district expenditure budget.

Additional Matters

Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate 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. In connection with our audit, we did not have any such findings.

Purpose of this Letter

Our management letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and Florida House of Representatives, the Florida Auditor General, Federal and other granting agencies, District Board, management, others within the District, and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties.

Daytona Beach, Florida June 5, 2026

- 28 -

INDEPENDENT ACCOUNTANTS’ EXAMINATION REPORT

To the Board of Supervisors,
Walkers Green Community Development District:

We have examined the Walkers Green Community Development District’s (the District) compliance with Section 218.415, Florida Statutes, Local Government Investment Policies (the Statute), for the year ended September 30, 2025. Management is responsible for the District’s compliance with those requirements. Our responsibility is to obtain reasonable assurance by evaluating the District’s investment policies against the Statute to determine the District’s compliance and performing other procedures to obtain sufficient appropriate audit evidence to express an opinion that conveys the results of our evaluation based on our examination.

Our examination was conducted in accordance with attestation standards for a direct examination established by the American Institute of Certified Public Accountants. Those standards require that we obtain reasonable assurance by evaluating the District’s investment policies against the Statute and performing procedures to obtain sufficient appropriate evidence to express an opinion that conveys the result of our measurement or evaluation of the District’s compliance for the year ended September 30, 2025. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of risks of material noncompliance with those requirements, 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.

We are required to be independent of the District, and to meet our other ethical responsibilities, in accordance with relevant ethical requirements relating to our examination engagement.

In our opinion, the District complied with the aforementioned requirements for the year ended September 30, 2025, in all material respects.

Daytona Beach, Florida June 5, 2026

- 29 -

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Ratification of Funding Requests Nos. 170 – 178

WALKERS GREEN
C O M M U N I T Y D E V E L O P M E N T D I S T R I C T

8273

VGlobalTech (WALKER)

03/01/2026

Walkers Green CDD

300.00

Total:

470.00

8406	VGlobalTech (WALKER)	04/01/2026	Walkers Green CDD	170.00

Invoice No	Supplier	Invoice Date Property		Invoice Amount

Funding Request No. 170

4/3/2026

_______________________________

Board Member

Please Return To:
Walkers Green CDD
c/o PFM Group Consulting 3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817-8329

WALKERS GREEN
C O M M U N I T Y D E V E L O P M E N T D I S T R I C T

DM-04-2026-72

PFM Management Services LLC (WALKER)

04/05/2026

Walkers Green CDD

2,187.50

Total:

2,187.50

Invoice No	Supplier	Invoice Date Property		Invoice Amount

Funding Request No. 171

4/10/2026

_______________________________

Board Member

Please Return To:
Walkers Green CDD
c/o PFM Group Consulting 3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817-8329

WALKERS GREEN
C O M M U N I T Y D E V E L O P M E N T D I S T R I C T

2026-274952

Ormond Beach Observer (WALKER)

04/22/2026

Walkers Green CDD

59.50
59.50

Total:

Invoice No	Supplier	Invoice Date Property		Invoice Amount

Funding Request No. 172

4/24/2026

_______________________________

Board Member

Please Return To:
Walkers Green CDD
c/o PFM Group Consulting 3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817-8329

WALKERS GREEN
C O M M U N I T Y D E V E L O P M E N T D I S T R I C T

DM-05-2026-69

PFM Management Services LLC (WALKER)

05/05/2026

Walkers Green CDD

2,187.50

Total:

2,188.24

OE-EXP-05-2026-60	PFM Management Services LLC	05/06/2026	Walkers Green CDD	0.74
(WALKER)

Invoice No	Supplier	Invoice Date Property		Invoice Amount

Funding Request No. 173

5/15/2026

_______________________________

Board Member

Please Return To:
Walkers Green CDD
c/o PFM Group Consulting 3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817-8329

WALKERS GREEN
C O M M U N I T Y D E V E L O P M E N T D I S T R I C T

8486

VGlobalTech (WALKER)

05/01/2026

Walkers Green CDD

170.00
170.00

Total:

Invoice No	Supplier	Invoice Date Property		Invoice Amount

Funding Request No. 174

5/22/2026

_______________________________

Board Member

Please Return To:
Walkers Green CDD
c/o PFM Group Consulting 3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817-8329

WALKERS GREEN
C O M M U N I T Y D E V E L O P M E N T D I S T R I C T

8574

VGlobalTech (WALKER)

06/01/2026

Walkers Green CDD

170.00
170.00

Total:

Invoice No	Supplier	Invoice Date Property		Invoice Amount

Funding Request No. 175

6/5/2026

_______________________________

Board Member

Please Return To:
Walkers Green CDD
c/o PFM Group Consulting 3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817-8329

WALKERS GREEN
C O M M U N I T Y D E V E L O P M E N T D I S T R I C T

855116

James Moore & Co., PL (WALKER)

05/31/2026

Walkers Green CDD

4,750.00

OE-EXP-06-2026-35	PFM Management Services LLC (WALKER)

06/09/2026

Walkers Green CDD

0.74

Total:

7,175.84

84040	Zev Cohen & Associates Inc. (WALKER) 06/10/2026	Walkers Green CDD	237.60

DM-06-2026-69	PFM Management Services LLC	06/05/2026	Walkers Green CDD	2,187.50 (WALKER)

Invoice No	Supplier	Invoice Date Property		Invoice Amount

Funding Request No. 176

6/12/2026

_______________________________

Board Member

Please Return To:
Walkers Green CDD
c/o PFM Group Consulting 3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817-8329

WALKERS GREEN
C O M M U N I T Y D E V E L O P M E N T D I S T R I C T

82900

Cobb Cole, P.A (WALKER)

06/02/2026

Walkers Green CDD

96.00

Total:

183.06

142386	PFM Management Services LLC	06/04/2026	Walkers Green CDD	87.06
(WALKER)

Invoice No	Supplier	Invoice Date Property		Invoice Amount

Funding Request No. 177

6/18/2026

_______________________________

Board Member

Please Return To:
Walkers Green CDD
c/o PFM Group Consulting 3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817-8329

WALKERS GREEN
C O M M U N I T Y D E V E L O P M E N T D I S T R I C T

352812

Ormond Beach Observer (WALKER)

07/23/2026

Walkers Green CDD

139.78

8555

VGlobalTech (WALKER)

06/01/2026

Walkers Green CDD

300.00

Total:

2,797.28

8709	VGlobalTech (WALKER)	07/01/2026	Walkers Green CDD	170.00

DM-07-2026-73	PFM Management Services LLC	07/06/2026	Walkers Green CDD	2,187.50 (WALKER)

Invoice No	Supplier	Invoice Date Property		Invoice Amount

Funding Request No. 178

7/17/2026

_______________________________

Board Member

Please Return To:
Walkers Green CDD
c/o PFM Group Consulting 3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817-8329

WALKERS GREEN COMMUNITY DEVELOPMENT DISTRICT

Review of Monthly Financials

Walkers Green CDD
June 2026 Financial Package

June 30, 2026

PFM Management Services LLC
3501 Quadrangle Blvd
Suite 270
Orlando, FL 32817
407-723-5900

Walkers Green CDD Statement of Financial Position As of 6/30/2026

General Fund

Assets

Current Assets
General Checking Account
Total Current Assets

$

17,535.90

$

17,535.90

$

17,535.90

Total Assets

Liabilities and Net Assets

Current Liabilities
Accounts Payable
Total Current Liabilities

$

7,528.90

$

7,528.90

Total Liabilities

$

7,528.90

Net Assets
Net Assets - General Government
Current Year Net Assets - General Government

$

18,456.20
(8,449.20)

$

10,007.00

Total Net Assets

Total Liabilities and Net Assets

$

17,535.90

Page 1 of 3

Walkers Green CDD Statement of Activities As of 6/30/2026

General Fund

Revenues

Developer Contributions
Total Revenues

$

25,000.00

$

25,000.00

Expenses

Travel and Per Diem Public Officials Insurance Management Engineering
District Counsel Audit
Tax Preparation Postage & Shipping Legal Advertising
Web Site Maintenance Dues, Licenses, and Fees General Liability Insurance Other Insurance
Total Expenses

$

87.06
2,774.00
19,687.50
237.60
96.00
4,750.00
9.63
2.96
106.25
2,130.00
175.00
3,389.00
500.00

$

33,945.00

Other Revenues (Expenses) & Gains (Losses)

Interest Income
Total Other Revenues (Expenses) & Gains (Losses)

$

495.80

$

495.80

Change In Net Assets

$

(8,449.20)

$

18,456.20

Net Assets At Beginning Of Year

Net Assets At End Of Year

$

10,007.00

Page 2 of 3

Walkers Green CDD
Budget to Actual
For the Period ending 06/30/2026

Year to Date Budget

Adopted FY 2026 Budget

Percentage Spent

Actual

Variance

Revenues
Developer Contributions
Net Revenues

$

25,000.00

$

88,721.25

$

(63,721.25)

$

118,295.00

21.13%

$

25,000.00

$

88,721.25

$

(63,721.25)

$

118,295.00

21.13%

General & Administrative Expenses
Supervisor Fees
Public Officials' Insurance Trustee Services Management  Engineering
Disclosure Agent Assessment Administration District Counsel
Audit
Travel and Per Diem Telephone
Postage & Shipping Copies
Legal Advertising Miscellaneous
Web Site Maintenance Dues, Licenses, and Fees Electric
Tax Preparation Fee Landscaping Irrigation
Other Insurance General Insurance
Total General & Administrative Expenses

$

- 2,774.00
- 19,687.50
237.60
-
- 96.00
4,750.00
87.06
- 2.96
- 106.25
- 2,130.00
175.00
- 9.63
-
- 500.00
3,389.00

$

1,500.00
2,250.00
4,500.00
19,687.50
11,250.00
3,750.00
5,625.00
15,000.00
3,750.00
375.00
37.50
112.50
37.50
1,500.00
2,782.50
2,430.00
131.25
1,500.00
15.00
8,250.00
1,125.00
375.00
2,737.50

$

(1,500.00)
524.00
(4,500.00)
- (11,012.40)
(3,750.00)
(5,625.00)
(14,904.00)
1,000.00
(287.94)
(37.50)
(109.54)
(37.50)
(1,393.75)
(2,782.50)
(300.00)
43.75
(1,500.00)
(5.37)
(8,250.00)
(1,125.00)
125.00
651.50

$

2,000.00
3,000.00
6,000.00
26,250.00
15,000.00
5,000.00
7,500.00
20,000.00
5,000.00
500.00
50.00
150.00
50.00
2,000.00
3,710.00
3,240.00
175.00
2,000.00
20.00
11,000.00
1,500.00
500.00
3,650.00

0.00%
92.47%
0.00%
75.00%
1.58%
0.00%
0.00%
0.48%
95.00%
17.41%
0.00%
1.97%
0.00%
5.31%
0.00%
65.74%
100.00%
0.00%
48.15%
0.00%
0.00%
100.00%
92.85%

$

33,945.00

$

88,721.25

$

(54,776.25)

$

118,295.00

28.70%

Total Expenses

 $  33,945.00 

 $  88,721.25 

 $  (54,776.25)

 $ 118,295.00 

Net Income (Loss)

$

(8,945.00)

$

-

$

(8,945.00)

$

-

Other Income (Expense)
Interest Income
Total Other Income (Expense)

$

495.80

$

-

$

495.80

$

-

$

495.80

$

-

$

495.80

$

-

Net Income (Loss)

$

(8,449.20)

$

-

$

(8,449.20)

$

-

Page 3 of 3