Tapestry Community Development District

Agenda August 11, 2021

AGENDA

Tapestry
Community Development District

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

August 3, 2021

Board of Supervisors Tapestry Community Development District

Dear Board Members:

The meeting of the Board of Supervisors of Tapestry Community Development District will be held Wednesday, August 11, 2021 at 11:30 AM at the Hart Memorial Central Library, 211 E. Dakin Avenue, Roseada Room, Kissimmee, Florida. Following is the advance agenda for the meeting:

Roll Call
Public Comment Period
Organizational Matters
Administration of Oath of Office to Newly Elected Supervisor
Appointment of Individuals to Fulfill Vacancies in Seats #4 & #5
Election of Officers
Consideration of Resolution 2021-07 Electing Officers
Approval of Minutes of the June 9, 2021 Meeting
Public Hearing
Consideration of Resolution 2021-08 Adopting the Fiscal Year 2022 Budget and Relating to the Annual Appropriations
Consideration	of	Resolution	2021-09 Imposing Special Assessments and Certifying an Assessment Roll
Review and Acceptance of the Fiscal Year 2020 Audit Report
Consideration of Resolution 2021-10 Setting Public Hearing for Adoption of the Amended and Restated Rules of Procedure
Staff Reports
Attorney
Engineer
District Manager's Report
Approval of Check Register
Balance Sheet and Income Statement
Approval of Fiscal Year 2022 Meeting Schedule
Supervisor's Requests
General Audience Comments
Adjournment

The second order of business is the Public Comment where the public has an opportunity to be heard on propositions coming before the Board as reflected on the agenda, and any other items.

The third order of business is the Organizational Matters. Section A is the administration of the Oath of Office to the newly elected supervisor. Section Bis the appointment of individuals to fulfill the vacancies in Seats #4 and #5. Section C is the election of officers and Section Dis the consideration of Resolution 2021-07 electing officers. A copy of the Resolution is enclosed for your review.

The fourth order of business is approval of minutes of the June 9, 2021 meeting. The minutes are enclosed for your review.

The fifth order of business opens the public hearing for the adoption of the budget and assessments. Section A is the consideration of Resolution 2021-08 adopting the Fiscal Year 2022 budget and relating to the annual appropriations. A copy of the Resolution and approved budget is enclosed for your review. Section B is the consideration of Resolution 2021-09 imposing special assessments and certifying an assessment roll. A copy of the Resolution is enclosed for your review and the tax roll will be available at the meeting for review.

The sixth order of business is the review and acceptance of the Fiscal Year 2020 audit report. A copy of the report is enclosed for your review.

The seventh order of business is the consideration of Resolution 2021-10 setting a public hearing for the adoption of the amended and restated rules of procedure. A copy of the Resolution is enclosed for your review.

Section C of the eighth order of business is the District Manager's Report. Sub-Section 1 is the approval of the check register and Sub-Section 2 includes the balance sheet and income statement for your review. Sub-Section 3 is the approval of the Fiscal Year 2022 meeting schedule. A sample meeting notice is enclosed for your review.

The balance of the agenda will be discussed at the meeting. In the meantime, if you have any questions, please contact me.

Sincerely,
.lt ---
District Manager

CC:	Lindsay Whelan, District Counsel Mark Vincuntonis, District Engineer Darrin Mossing, GMS

Enclosures

SE.CTION Ill

SECTION D

- 	..	···-- .	

RESOLUTION 2021-07

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TAPESTRY COMMUNITY DEVELOPMENT DISTRICT ELECTING THE OFFICERS OF THE DISTRICT AND PROVIDING FOR AN EFFECTIVE DATE

WHEREAS, the Tapestry Community Development District (the "District") is a local unit of special purpose government created and existing pursuant to Chapter 190, Florida Statutes; and

WHEREAS, the Board of Supervisors of the District ("Board") desires to elect the Officers of the District.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE TAPESTRY COMMUNITY DEVELOPMENT DISTRICT:

Section 1.		 is elected Chairperson.

Section 2.		is elected Vice-Chairperson.

Section 3.		

Section 4.		

is elected Secretary.

is elected Assistant Secretary.

	 is elected Assistant Secretary.
	 is elected Assistant Secretary.
	 is elected Assistant Secretary.

Section 5.

----------

is elected Treasurer.

Section 6.

Section 7.

-	is elected Assistant Treasurer.
This Resolution shall become effective immediately upon its adoption.

PASSED AND ADOPTED this 11th day of August, 2021.

ATTEST:	TAPESTRY COMMUNITY
DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson/Vice-Chairperson

MINUTES

MINUTES OF MEETING TAPESTRY
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Tapestry Community Development District was held Wednesday June 9, 2021 at 11:30 a.m. in the Hart Memorial Central Library, 211 E. Dakin Avenue, Room 120, Kissimmee, Florida.

Present and constituting a quorum were:

Chuck Bell Thomas Franklin Duane Owen

Also present were:

George Flint Lindsay Whelan Pete Glasscock William Viasalyers

Chairman Assistant Secretary Assistant Secretary

District Manager
District Counsel by phone District Engineer
Field Manager

FIRST ORDER OF BUSINESS	Roll Call
Mr. Flint called the meeting to order and called the roll.

SECOND ORDER OF BUSINES	Public Comment Period
There being none, the next item followed.

THIRD ORDER OF BUSINESS	Organizational Matters
Administration of Oath of Office to Newly Elected Supervisors
Mr. Flint stated I administered the oath of office to Mr. Franklin prior to the meeting and have the executed oath of office.

Consideration of Resolution 2021-01 Canvassing and Certifying the Results of the Landowners' Election
Mr. Flint stated the Board needs to canvass and certify the results of the landowner election from last November and you have Resolution 2021-01 indicating that Mr. Franklin received 150 votes and will serve a four-year term of office.

On MOTION by Mr. Bell seconded by Mr. Owen with all in favor Resolution 2021-01 was approved.

Appointment of Individuals to Fill Vacancies in Seats 4 & 5
Mr. Flint stated seat no. 4 and seat no. 5 transitioned to general election, however, no one qualified to run for those seats. They are currently occupied by Rocky and the vacant seat. In a situation where no one qualified to run for the seat the existing Board members carry over in that seat until such time as the Board appoints a general elector to fill that seat. Rocky can continue serving in that seat assuming he wants to do so. There is no nomination today to fill those seats, but we will need to find some general electors to appoint to those seats at some point.

Consideration of Resolution 2021-02 Electing Officers
Mr. Flint stated every time there is an election the Board is required to elect officers and Resolution 2021-02 is in your agenda. Currently Mr. Bell is the Chair, Ms. Luong is Vice Chair, Rocky and Tom are Assistant Secretaries, I am Secretary and I would like to make Jill Burns Treasurer. Previously Ariel Lovera was Treasurer, but he is no longer with OMS.

On MOTION by Mr. Bell seconded by Mr. Franklin with all in favor Resolution 2021-02 was approved reflecting the following officers: Mr. Bell Chair, Ms. Luong Vice Chair, George Flint Secretary, Jill Bums Treasurer and Mr. Franklin and Mr. Owen Assistant Secretaries.

FOURTH ORDER OF BUSINESS	Approval of the Minutes of the July 30, 2020
Board of Supervisors Meeting and Acceptance of the Minutes of the November 23, 2020 Landowners' Meeting

On MOTION by Mr. Franklin seconded by Mr. Bell with all in favor the minutes of the July 30, 2020 Board meeting were approved and the November 23, 2020 landowners' meeting minutes were accepted.

FIFTH ORDER OF BUSINESS	Amended and Restated Rules of Procedure
Memorandum Regarding Revisions to Rules of Procedure
Ms. Whelan stated a year or so ago we reviewed our existing rules of procedure to make sure they are still consistent with many case law changes or legislative changes that have happened over the past several years. We usually do that every four to five years depending on big changes coming out of the legislature or courts. Included in your agenda package is an amended and

restated rules of procedure. There is a memo included in your package highlighting on a higher level the changes being made, but again, all of this is meant to be consistent with the current state and other laws in place effecting the District. Approving the rules of procedure is a two-step process. Today we will set a public hearing which will be the next resolution you will adopt 2021- 03 where you will actually set a public hearing to review the rules in a little more detail. At this point we are just asking you to set the public hearing, we will come back at your budget meeting later in the summer and at that point we will finally adopt the rules of procedure.
Mr. Flint stated August 11, 2021 at 11:30 a.m. in this location is the same date we are recommending for your budget hearing and we would do it at the same meeting.

Consideration of Resolution 2021-03 Setting a Public Hearing for Adoption of the Amended and Restated Rules of Procedure

On MOTION by Mr. Bell seconded by Mr. Franklin with all in favor Resolution 2021-03 setting a public hearing for adoption of the amended and restated rules of procedure for August 11, 2021 was approved.

SIXTH ORDER OF BUSINESS	Consideration	of	Resolution	2021-04
Certifying the Series 2016 Project Complete
Mr. Flint stated next is Resolution 2021-04 and per the trust indenture this resolution certifies the Series 2016 Project complete and allows us to close out the construction and acquisition account and attached as Exhibit A is the District Engineer's certification of completion signed by Mark Vincutonis back in December.
Ms. Whelan stated this is administrative in nature. This resolution is required by your trust indenture and we are just following the requirements of the trust indenture to declare this project formally complete.

On MOTION by Mr. Bell seconded by Mr. Franklin with all in favor Resolution 2021-04 was approved.

SEVENTH ORDER OF BUSINESS	Consideration	of	Resolution	2021-05
Authorizing an Approving the Change of Designed Registered Agent
Mr. Flint stated next is Resolution 2021-05 changing the registered agent to Lindsay Whelan with Hopping Green & Sams and her office in Tallahassee as the registered office.

On MOTION by Mr. Franklin seconded by Mr. Bell with all in favor Resolution 2021-05 changing the registered agent to Lindsay C. Whelan and retaining the registered office as Hopping Green & Sams, P.A. 119 South Monroe Street, Suite 300, Tallahassee, Florida 32301 was approved.

Consideration of Fee Adjustment for Legal Services
Mr. Flint stated there was a letter from Hopping Green & Sams regarding a proposed adjustment in their rates.
Ms. Whelan stated this goes hand in hand with the resolution changing the registered agent. Jason Walters who worked on this District with me previously unexpectedly passed away at the end of last year and that is what necessitated the change in the registered agent and similarly ties into the rate adjustment for legal services revising that all shareholders who work on the project will be at the same rate that Jason Walters was at. There is no change in those rates. Annually, we look at any other revisions to our rates that may be necessary and determined that based on current market conditions it was appropriate to revise the rate to that $260 per hour, but paralegal rates will remain the same at $145 per hour. Based on the changes we don't expect any negative impacts to your budget in terms of what you are about to consider in the next few minutes for fiscal year 2022. We also don't expect any real significant change in your outlay so even though we don't expect to exceed your budget we also don't expect these rates to affect the amounts you are currently paying per year for legal services.

On MOTION by Mr. Bell seconded by Mr. Franklin with all in favor the fee adjustment for legal services was approved.

EIGHTH ORDER OF BUSINESS	Consideration	of	Resolution	2021-06
Approving the Proposed Fiscal Year 2022 Budget and Setting a Public Hearing
Mr. Flint stated each year the Board is required to approve a proposed budget and set the date, place and time of the public hearing for its final adoption. The proposed budget has to be approved by June 15th and the public hearing has to be no sooner than 60 days from when the proposed budget is approved. We are recommending your August 11, 2021 meeting at 11:30 a.m. in this location and Exhibit A is the proposed budget, which is not binding on the Board you can make changes to this if necessary between now and at the public hearing. We kept the per unit assessment amount the same for purposes of the proposed budget. The administrative costs have

increased slightly, we are asking for a 3% adjustment on the District management fee, insurance has gone up slightly and those are the primary changes on the admin side. The field expenses are pretty much level, field management has a 3% increase in it as well and we just balance the budget against the contingency line item, which went down by about $2,000.

On MOTION by Mr. Bell seconded by Mr. Franklin with all in favor Resolution 2021-06 approving the proposed fiscal year 2022 budget and setting the public hearing for August 11, 2021 was approved.

NINTH ORDER OF BUSINESS	Ratification Items
Auditing Agreement with Grau & Associates for Fiscal Year 2020 Audit
Mr. Flint stated you bid out auditing services and selected Grau and asked for five years of pricing, this is the second of the five years. The fee is not to exceed $3,500 for fiscal year ended September 30, 2020. I had to execute this because the Board hasn't met since last July and the audit has to be done by the end of this month and I'm asking the Board to ratify that action.

On MOTION by Mr. Franklin seconded by Mr. Bell with all in favor the engagement letter with Grau & Associates to perform the Fiscal Year 2020 audit was ratified.

Data Sharing and Usage Agreement with Osceola County Property Appraiser
Mr. Flint stated we have a data sharing and usage agreement with the Osceola County Property Appraiser, which is required by the Property Appraiser. I executed this in December and it is consistent with the same agreement you have approved in the past and I'm asking the Board to ratify my actions in signing it.

On MOTION by Mr. Franklin seconded by Mr. Bell with all in favor the data sharing and usage agreement with the Osceola County Property Appraiser was ratified.

Temporary Access Easement Agreement with Carlos Ramos
Mr. Flint stated next is a temporary access easement agreement. We have somebody who is constructing a pool and they asked to be able to cross a portion of our stormwater tract. This was back in February and the agreement provides protections to the District, it requires them to

remediate any damage that may be caused as a result and authorizes them to cross our property to do that. I'm asking the Board to ratify this.
Mr. Bell stated it has been 60 days and I'm assuming the pool is in and they have repaired any damages.
Mr. Viasalyers stated I am monitoring the repairs they are working on getting those completed.

On MOTION by Mr. Franklin seconded by Mr. Bell with all in favor the temporary access easement agreement with Carlos Ramos was ratified.

E-Verify System Memorandum of Understanding
Mr. Flint stated we added item 9D, I think the Board is aware of the E-Verify requirements from other Districts. We are just asking the Board to ratify our actions in entering into the memorandum of-understanding with the Department of Homeland Security

On MOTION by Mr. Bell seconded by Mr. Franklin with all in favor staffs action in entering into the memorandum of understanding was ratified.

TENTH ORDER OF BUSINESS	Staff Reports
Attorney
Ms. Whelan stated I'm heading out in the next few days on maternity leave and Carl Eldred in my office will be taking over District matters and that may be coverage of your August public hearing and anything that may come up in between. He is up to speed and I will send you an email after this Board meeting with his contact information.

Engineer
There being none, the next item followed.

Manager
Approval of Check Register
Mr. Flint presented the check register from July 22, 2020 through May 31, 2021 in the amount of $568,501.01.

On MOTION by Mr. Bell seconded by Mr. Franklin with all in favor the check register was approved.

Balance Sheet and Income Statement
A copy of the balance sheet and income statement were included in the agenda package.

Presentation of Number of Registered Voters -1,132
A copy of the letter from the Supervisor of Elections indicating that there are 1,132 registered voters residing in the District was included in the agenda package.

Ratification of As-Needed Meeting Schedule for Fiscal Year 2021

On MOTION by Mr. Bell seconded by Mr. Franklin with all in favor the notice that the Board will meet on an as needed basis in Fiscal Year 2021 was ratified.

ELEVENTH ORDER OF BUSINESS	Supervisor's Requests
There being none, the next item followed.

TWELFTH ORDER OF BUSINESS
There being none,

General Audience Comments

On MOTION by Mr. Franklin seconded by Mr. Bell with all in favor the meeting adjourned at 11:52 a.m.

Secretary/Assistant Secretary	Chairman/Vice Chairman

A NOl183S

SECTION A

RESOLUTION 2021-08

THE ANNUAL APPROPRIATION RESOLUTION OF THE TAPESTRY COMMUNITY DEVELOPMENT DISTRICT ("DISTRICT") RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGETS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2021, AND ENDING SEPTEMBER 30, 2022; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has, prior to the fifteenth (15th) day in June, 2021, submitted to the Board of Supervisors ("Board") of the Tapestry Community Development District ("District") proposed budgets ("Proposed Budget") for the fiscal year beginning October 1, 2021 and ending September 30, 2022 ("Fiscal Year 2021/2022") along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Section 190.008(2)(a), Florida Statutes; and

WHEREAS, at least sixty (60) days prior to the adoption of the Proposed Budget, the District filed a copy of the Proposed Budget with the local governing authorities having jurisdiction over the area included in the District pursuant to the provisions of Section 190.008(2)(b), Florida Statutes; and

WHEREAS, 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 Budget 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 1st of each year, the Board, by passage of the Annual Appropriation Resolution, shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year; and

WHEREAS, the District Manager has prepared a Proposed Budget, 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 TAPESTRY COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. BUDGET

The Board has reviewed the Proposed Budget, a copy of which is 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.

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 Budget may be subsequently revised as deemed necessary by the District Manager to reflect actual revenues and expenditures.

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 Tapestry Community Development District for the Fiscal Year Ending September 30, 2022."

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 202 l /2022, 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 DEBT SERVICE-SERIES 2016 TOTAL ALL FUNDS
SECTION 3. BUDGET AMENDMENTS

$	 _

$--------
$	 _

Pursuant to Section 189.016, Florida Statutes, the District at any time within Fiscal Year 2021/2022 or within 60 days following the end of the Fiscal Year 2021/2022 may amend its Adopted Budget for that fiscal year as follows:

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.

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.

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.

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 11th DAY OF AUGUST, 2021.

ATTEST:	TAPESTRY COMMUNITY
DEVELOPMENT DISTRICT

 	

Secretary/Assistant Secretary

EXHIBIT A: Fiscal Year 2021/2022 Budget

ChairmanNice Chairman

EXHIBIT A
Fiscal Year 2021/2022 Budget

Tapestry
Community Development District

Proposed Budget
FY2022

Table of Contents

1		General Fund 

		General Fund Narrative 

			Debt Service Fund - Series 2016 

		Amortization Schedule - Series 2016 

Tapestry
Community Development District
Proposed Budget General Fund

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F'i20:?.t	,\ltt1:ils 'lhru
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 e-.:t
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11,111
tJ;:W/21	l'1oposed Budgt•t
Fr2022	
a-								
Non•Ad ValoremAssessments	$	203,354  $	203,939  $	$	203,939  $	203,354	
Interest	$	$	74  $	25	$	99  $		
Total Revenues	$	203,354  $	204,013  $	25	$	204,038  s	203,354	
Egendltnces								
Ciem:ml ii ddmf1:1LstDztille								
Supervisor Fees	$	4,000	400  $	800	$	1,200  $	4,000	
FICA Expense	$	100  $	15  $	31	$	46  $	153	
Engineering	$	10,000	625  $	2,500	$	3,125  $	10,000	
Attorney	$	20,000	3,648  $	5,000	$	8,648		20,000	
Annual Audit	$	3,500  $	1,000  $	2,500	$	3,500  $	3,600	
Asses.smentAdmfnlstration	$	2,500	2,500  $	$	2,500		2,500	
Arbitrage	$	450	450  $	s	450		450	
Dissemination	$	3,500	2,625  $	875	$	3,500		3,500	
Trustee Fees	$	3,500	$	3,500	$	3,500		3,500	
Management Fees	$	36,050	27,038  $	9,012	$	36,050		37,132	
Information Tedmology	$	800	540  $	260	s	800		1,000	
Wemite Maintenance	$	400  $	360  $	40	$	400  $	650	
Telephone	$	300	$	75	$	75  $	300	
Postage	$	800	92  $	200	$	292  $	800	
Insurance	$	6,500	6,189  $	$	6,189  $	6,808	
Printing & Binding	$	1,000	28  $	250	$	278  $	1,000	
Legal Advertising	s	2,500	353  $	625	$	978  $	2,500	
Other Current Charges	$	1,000  s	1,376  $	250	$	1,626  $	1,000	
Offia, Supplies	s	500	$	2  s	125	$	127	$	500	
Property Appraiser	$	300	303  $		$	303	s	300	
Dues, Licenses & Subscriptions	$	175	175  $		$	175	$	175	
Total General &Administrative:	$	97,875	$	47,719  $	26,043	$	73,762	$	99,868	

Qa:mtiam & &taLm:aaoa:										
Field Expenses										
Field Management	$	7,725	5,794	s	1,931	s	7,725	$	7,957	
Property Insurana,		4,500		$		$		$	4,500	
Landscape Maintenance		47,160	35,370	$	11,790	$	47,160	$	47,160	
Landscape Contingency	$	5,490	700	s	1,373	s	2,073	s	5,490	
Lake Maintenance	$	7,354	5,355	s	1,785	$	7,140	s	7,354	
Stonnwater Maintenanre	$	10,000	$	$		$		$	10,000	
Wetland Maintenance	$	4,600		$		$		$	4,600	
Plant Replacement	$	5,000		$		$			5,000	
Contingency	$	13,650		$	3,413	$	3,413	$	11,426	
Total Operations &Maintenance:		$	105,479  $	47,219  s	20,291  $	67,510  s	103.487	

Total .Expenditures	s	203,354  $	94,938  s	46 34  s	141,272  $	203,354

ExccssRcvcn11cs/(£ 1lcndllures)	S	S	1o•Jn111  $	(111 )11))  S	6 7h(1  S

NetAssessments	203,354 Add: Discounts&Collection 		12,980 Gross Assessments  $	 216,334

	Total	Net	Gross	
Product Type	ERU	Units	ERU	O&M	O&M	
Townhouse	0.6	304	182	$126	$134	
Single-Family 40'	0.9	337	303	$188	$200	
Slnglc-Family45'	1.0	101	101	$209	$223	
Single-Family so·	1.1	249	274	$230	$245	
SinsJe-Family60'	1.3	85	111	$272	$290	
		1076	971			

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

EXPENDITURES;
Administrative;
Supervisor Fees
Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed
$4,800 per year paid to each Supervisor for the time devoted to District business and meetings. The amount for the fiscal year is based upon 4 Supervisors attending 5 monthly meetings.

FICA Expense

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

Engineering

The District's engineer will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices, etc.

Attorney

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit
The District is required by Florida Statutes to arrange for an independent audit of its financial records by an Independent Certified Public Accounting firm. The District has contracted with Grau & Associates.

AssessmentAdministration
The District will contract to levy and administer the collection of non-ad valorem assessments on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District's Arbitrage Rebate Liability on the Series 2016 Special Assessment Revenue Bonds.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(S) which relates to additional reporting requirements for unrated bond issues.

Trustee Fees

The District will be issuing Series 2016 Special Assessment Revenue Bonds that will be deposited with a Trustee at Regions Bank

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

Information Technology
Represents costs related to the District's information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

Website Maintenance
Represents the costs associated with monitoring and maintaining the District's website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Telephone

Telephone and fax machine.

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

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

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

Le.9al Advertising

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

Other Current Charges
Bank charges and any other miscellaneous expenses incurred during the year.

Office Suwlies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Prnpe,tyAwraiser
Represents a fee charged by Osceola County Property Appraiser's office for assessment administration services.
Dues. Licenses & Subscriptions
The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Operations &Maintenance:
Field Management

The District has contracted with Governmental Management Services-Central Florida, LLC to provide onsite field management of contracts for the District such as landscape and lake maintenance. Services to include onsite inspections, meetings with contractors, attend Board meetings and receive and respond to property owner phone calls and emails.

Prope,tylnsurance

The District's property insurance coverage will be provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Landscape Maintenance

The District has contracted with Yellowstone Landscape - Southeast, LLC to provide monthly landscape services to common areas overseen by the District. The amount is based on the current contract set in place and estimated costs for additional pond mowing and perimeter landscaping.

Description	Monthly	Annual	
Landscaping Maintenance
Total	$3,930		$47,160 
$47,160	

Landscave Contingency

Represents estimated costs for any additional landscape expenses not covered under the monthly landscape maintenance contract.

Lake Maintenance
The District has contracted with Applied Aquatic Management, Inc. to schedule inspections and treatments of aquatic weeds and algae within CDD lakes.

Description	Monthly	Annual	
Lake Maintenance - 5 Lakes	$595	$7,140	
Contingency			$214		
Total		$7,354	

Stormwater Maintenance
The District will incur costs related to maintaining the storm water systems.The amount is based on estimated costs.

Wetland Maintenance
The District will incur costs related to maintaining the wetlands located within its boundaries. The amount is based on estimated costs.

Description	Quarterly	Annual	
Wetland Maintenance
Total	$1,150		$4,600 
$4,600	

Plant Replacement

Represents estimated costs related to the possible replacement of landscaping needed throughout the fiscal year.

Contingency

Represents unforeseen costs not budgeted for in other line items.

Proposed Budget
Debt Service Fund Series 2016

Adopted
Budget	Actuals
Thru	ProJected
Next	P1 OJcctcd
Thru	P, oposcct
Budget	
Dcscnpl!on	FY2021	6/30/21	3 Months	9/30/21	FY2022	

lll:l1l:wu:i						
Special Assessments	$	464,000	$	466,718	$	$	466,718	$	464,000	
Interest	$	$	48	$	16	$	65	$	
Carry Forward Surplus	$	184,506	$	188,643	$	$	188,643	$	188,400	
Total Revenues	$	648,506	$	655,409	$	16	$	65S,42S	$	6S2,400	

ExP1:Ddit1u:.:s						
ld:occal & ddmioiam,il!c·						
lnterest-11/1	$	163,263	$	163,263	$	$	163,263	$	160,725	
Principal -5/1	$	140,000	$	140,000	$	$	140,000	$	145,000	
lnterest-5/1	$	163,263	$	163,263	$	$	163,263	$	160,725	
Total Expenditures	$	466,S2S	$	466,52S	$	$	466,S25	$	466,4S0	

Other Sources{(llscs)						
Transfer In/(Out)	$	$	(500)	$	$	(500)	$	

Total Other FinancinsSources (!!sesJ	  $	$	(SOOJ  $	 s	 (SOOJ  $	

Excess Revenues l( endltures)	s	H!l,9!l;!. i	188.;!84 I	16  i	18!l,400 $	185,920

Interest 11L1 £22	$1S71644

Net Assessments $	464,000 Add: Discounts&Collection  $		30,933 
Gross Assessments $	494,933

	Total	Net	Gross		
	Product	ERU	Units	ERU	O&M	O&M		
	Townhouse	0.6	304	182	$287	$306		
	Single-Family 40'	0.9	337	303	$430	$459		
	Single-Family 45'	1.0	101	101	$478	$510		
	Single-Family SO'	1.1	249	274	$526	$561		
	Single-Famili::60'	1.3	85	111	$621	$663		
			1076	971				

Series 2016 Special Assessment Bonds Amortization Schedule

Date	Balance	Prm1cpal	lnte1 est	Total

05/01/21	$	6,7_75,000.00	140,000.00  $	163,2 _2.S0
11/01/21	$	6,635,000.00	$	$	160,725.00  $	463,987.50
05/0lff!:.	$	 S,000.0_l_l	$	145,000.00  $	! 0,725.0
11/01/22	$	6,490,000.00	$	$	157,643.75  $	463,368.75
05/01/23	$	6,490,000.00	$	150,000.00  $	157,643.75
11/01/23	$	6,340,000.00	$	$	154,45625  $	462,100.00
05/01/24	$	6,340,000.00	$	155,000.00  $	154,45625
11/01/24	$	6,185,000.00	$	$	151,162.50  $	460,618.75
05/01/25	$	6,185,000.00	$	160,000.00  $	151,162.50
11/01/25	$	6,025,000.00	$	$	147,762.50	$	458,925.00
05/01/26	$	6,025,000.00	$	170,000.00  $	147,762.50
11/01/26	$	5,855,000.00	$	$	144,150.00	$	461,912.50
05/01/27	$	5,855,000.00	$	180,000.00  $	144,150.00
11/01/27	$	5,675,000.00	$	$	142,367.50	$	466,517.50
05/01/28	$	5,675,000.00	$	185,000;00  $	139,830.00
11/01/28	$	5,490,000.00	$	$	135,390.00	$	460,220.00
05/01/29	$	5,490,000.00	$	195,000.00  $	135,390.00
11/01/29	$	5,295,000.00	$	$	130,710.00	$	461,100.00
05/01/30	$	5,295,000.00	$	205,000.00  $	130,710.00
11/01/30	$	5,090,000.00	$	$	125,790.00	$	461,500.00
05/01/31	$	5,090,000.00	$	215,000.00 $	125,790.00
11/01/31	$	4,875,000.00	$	$	120,630.00  $	461,420.00
05/01/32	$	4,875,000.00	$	225,000.00 $	120,630.00
11/01/32	$	4,650,000.00	$	$	115,230.00	$	460,860.00
05/01/33	$	4,650,000.00	$	235,000.00	$	115,230.00
11/01/33	$	4,415,000.00	$	$	109,590.00	$	459,820.00
05/01/34	$	4,415,000.00	$	250,000.00	$	109,590.00
11/01/34	$	4,165,000.00	$	$	103,590.00  $	463,180.00
05/01/35	$	4,165,000.00	$	260,000.00  $	103,590.00
11/01/35	$	3,905,000.00	$	$	97,350.00	$	460,940.00
05/01/36	$	3,905,000.00	$	275,000.00	$	97,350.00
11/01/36	$	3,630,000.00	$	$	90,750.00  $	463,100.00
05/01/37	$	3,630,000.00	$	285,000.00	$	90,750.00
11/01/37	$	3,345,000.00	$	$	83,625.00	$	459,375.00
05/01/38	$	3,345,000.00	$	300,000.00	$	83,625.00
11/01/38	$	3,045,000.00	$	$	76,125.00  $	459,750.00
05/01/39	$	3,045,000.00	$	315,000.00	$	76,125.00
11/01/39	$	2,730,000.00	$	$	68,250.00  $	459,375.00
05/01/40	$	2,730,000.00	$	335,000.00	$	68,250.00
11/01/40	$	2,395,000.00	$	$	59,875.00  $	463,125.00
05/01/41	$	2,395,000.00	$	350,000.00	$	59,875.00
11/01/41	$	2,045,000.00	$	$	51,125.00	$	461,000.00
05/01/42	$	2,045,000.00	$	370,000.00	$	51,125.00
11/01/42	$	1,675,000.00	$	$	41,875.00	$	463,000.00
05/01/43	$	1,675,000.00	$	390,000.00	$	41,875.00
11/01/43	$	1,285,000.00	$	$	32,125.00	$	464,000.00
05/01/44	$	1,285,000.00	$	405,000.00	$	32,125.00
11/01/44	$	880,000.00	$	$	22,000.00	$	459,125.00
05/01/45	$	880,000.00	$	430,000.00	$	22,000.00
11/01/45	$	450,000.00	$	$	11,250.00	$	463,250.00
05/01/46	$	450,000.00	$	450,000.00	$	11,250.00	$	461,250.00

	$	6,775,000.00  $	5,227,820.00  $	12,002,820.00

SECTION B

RESOLUTION 2021-09

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TAPESTRY COMMUNITY DEVELOPMENT DISTRICT MAKING A DETERMINATION OF BENEFIT AND IMPOSING SPECIAL ASSESSMENTS FOR FISCAL YEAR 2021/2022; PROVIDING FOR THE COLLECTION AND ENFORCEMENT OF SPECIAL ASSESSMENTS; CERTIFYING AN ASSESSMENT ROLL; PROVIDING FOR AMENDMENTS TO THE ASSESSMENT ROLL; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Tapestry Community Development District ("District") is a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, for the purpose of providing, operating and maintaining infrastructure improvements, facilities and services to the lands within the District; and

WHEREAS, the District is located in Osceola County, Florida ("County"); and

WHEREAS, the District has constructed or acquired various infrastructure improvements and provides certain services in accordance with the District's adopted capital improvement plan and Chapter 190, Florida Statutes; and

WHEREAS, the Board of Supervisors ("Board") of the District hereby determines to undertake various operations and maintenance and other activities described in the District's budget ("Adopted Budget") for the fiscal year beginning October 1, 2021 and ending September 30, 2022 ("Fiscal Year 2021/2022"), attached hereto as Exhibit A and incorporated by reference herein; and

WHEREAS, the District must obtain sufficient funds to provide for the operation and maintenance of the services and facilities provided by the District as described in the Adopted Budget; and

WHEREAS, the provision of such services, facilities, and operations is a benefit to lands within the District; and

WHEREAS, Chapter 190, Florida Statutes, provides that the District may impose special assessments on benefitted lands within the District; and

WHEREAS, it is in the best interests of the District to proceed with the imposition of the special assessments for operations and maintenance in the amount set forth in the Adopted Budget; and

WHEREAS, the District has previously levied an assessment for debt service, which the District desires to collect for Fiscal Year 2021/2022; and

WHEREAS, Chapter 197, Florida Statutes, provides a mechanism pursuant to which such special assessments may be placed on the tax roll and collected by the local tax collector ("Uniform Method"), and the District has previously authorized the use of the Uniform Method by, among other things, entering into agreements with the Property Appraiser and Tax Collector of the County for that purpose; and

WHEREAS, it is in the best interests of the District to adopt the assessment roll ("Assessment Roll") attached to this Resolution as Exhibit B, and to certify the portion of the Assessment Roll related to certain developed property ("Tax Roll Property") to the County Tax Collector pursuant to the Uniform Method and to directly collect the portion of the Assessment Roll relating to the remaining property ("Direct Collect Property"), all as set forth in Exhibit B; and

WHEREAS, it is in the best interests of the District to permit the District Manager to amend the Assessment Roll adopted herein, including that portion certified to the County Tax Collector by this Resolution, as the Property Appraiser updates the property roll for the County, for such time as authorized by Florida law.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE TAPESTRY COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. BENEFIT & ALLOCATION FINDINGS. The provision of the services, facilities, and operations as described in Exhibit A confers a special and peculiar benefit to the lands within the District, which benefit exceeds or equals the cost of the assessments. The allocation of the assessments to the specially benefitted lands is shown in Exhibit A and Exhibit B, and is hereby found to be fair and reasonable.

SECTION 2. ASSESSMENT IMPOSITION. Pursuant to Chapter 190, Florida Statutes, and using the procedures authorized by Florida law for the levy and collection of special assessments, a special assessment for operation and maintenance is hereby imposed and levied on benefitted lands within the District and in accordance with Exhibit A and Exhibit B. The lien of the special assessments for operations and maintenance imposed and levied by this Resolution shall be effective upon passage of this Resolution.

SECTION 3. COLLECTION AND ENFORCEMENT; PENALTIES; INTEREST.

Tax Roll Assessments. The operations and maintenance special assessments and previously levied debt service special assessments imposed on the Tax Roll Property shall be collected at the same time and in the same manner as County taxes in accordance with the Uniform Method, as set forth in Exhibit A and Exhibit B.

Direct Bill Assessments. The operations and maintenance special assessments and previously levied debt service special assessments imposed on the Direct Collect Property shall be collected directly by the District in accordance with Florida law, as set forth in Exhibit A and Exhibit B. Assessments directly collected by the District are

due in full on December 1, 2021; provided, however, that, to the extent permitted by law, the assessments due may be paid in several partial, deferred payments and according to the following schedule: 50% due no later than December 1, 2021, 25% due no later than February 1, 2022 and 25% due no later than May 1, 2022. In the event that an assessment payment is not made in accordance with the schedule stated above, the whole assessment - including any remaining partial, deferred payments for Fiscal Year 2021/2022, shall immediately become due and payable; shall accrue interest, penalties in the amount of one percent (1%) per month, and all costs of collection and enforcement; and shall either be enforced pursuant to a foreclosure action, or, at the District's sole discretion, collected pursuant to the Uniform Method on a future tax bill, which amount may include penalties, interest, and costs of collection and enforcement. Any prejudgment interest on delinquent assessments shall accrue at the rate of any bonds secured by the assessments, or at the statutory prejudgment interest rate, as applicable. In the event an assessment subject to direct collection by the District shall be delinquent, the District Manager and District Counsel, without further authorization by the Board, may initiate foreclosure proceedings pursuant to Chapter 170, Florida Statutes, or other applicable law to collect and enforce the whole assessment, as set forth herein.

Future Collection Methods. The decision to collect special assessments by any particular method - e.g., on the tax roll or by direct bill - does not mean that such method will be used to collect special assessments in future years, and the District reserves the right in its sole discretion to select collection methods in any given year, regardless of past practices.

SECTION 4. ASSESSMENT ROLL. The Assessment Roll, attached to this Resolution as Exhibit B, is hereby certified for collection. That portion of the Assessment Roll which includes the Tax Roll Property is hereby certified to the County Tax Collector and shall be collected by the County Tax Collector in the same manner and time as County taxes. The proceeds therefrom shall be paid to the District.

SECTION 5. ASSESSMENT ROLL AMENDMENT. The District Manager shall keep apprised of all updates made to the County property roll by the Property Appraiser after the date of this Resolution, and shall amend the Assessment Roll in accordance with any such updates, for such time as authorized by Florida law, to the County property roll. After any amendment of the Assessment Roll, the District Manager shall file the updates in the District records.

SECTION 6. SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

SECTION 7. EFFECTIVE DATE. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board.

PASSED AND ADOPTED this 11th day of August, 2021.

ATTEST:	TAPESTRY COMMUNITY
DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairman/Vice Chairman

Exhibit A:	Budget
Exhibit B:	Assessment Roll (Uniform Method) Assessment Roll (Direct Collect)

Exhibit A
Budget

Exhibit B
Assessment Roll (Uniform Method) Assessment Roll (Direct Collect)

SECTION·VI

TAPESTRY
COMMUNITY DEVELOPMENT DISTRICT KISSIMMEE, FLORIDA FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2020

TAPESTRY COMMUNITY DEVELOPMENT DISTRICT KISSIMMEE, FLORIDA

TABLE OF CONTENTS

	  Page		
INDEPENDENT AUDITOR’S REPORT	1-2	
MANAGEMENT’S DISCUSSION AND ANALYSIS	3-6	
BASIC FINANCIAL STATEMENTS		
Government-Wide Financial Statements:		
Statement of Net Position	7	
Statement of Activities	8	
Fund Financial Statements:		
Balance Sheet – Governmental Funds	9	
Reconciliation of the Balance Sheet – Governmental Funds
to the Statement of Net Position	
10	
Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds	
11	
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities	
12	
Notes to the Financial Statements	13-20	
REQUIRED SUPPLEMENTARY INFORMATION		
Schedule of Revenues, Expenditures and Changes in Fund Balances –
Budget and Actual – General Fund	
21	
Notes to Required Supplementary Information	22	
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS		
	23-24	
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10)
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA		
	25	
MANAGEMENT LETTER REQUIRED BY CHAPTER 10.550 OF THE RULES
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	
26-27	

INDEPENDENT AUDITOR’S REPORT

To the Board of Supervisors
Tapestry Community Development District Kissimmee, Florida

Report on the Financial Statements

951 Yamato Road ▪ Suite 280
Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

We have audited the accompanying financial statements of the governmental activities and each major fund of Tapestry Community Development District, Kissimmee, Florida (“District”) as of and for the fiscal year ended September 30, 2020, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.

Management’s Responsibility for the Financial Statements

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

Auditor’s Responsibility

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

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

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

Opinions

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, 2020, and the respective changes in financial position thereof for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.

Other Matters

Required Supplementary Information

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

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated June 14, 2021, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control over financial reporting and compliance.

June 14, 2021

MANAGEMENT’S DISCUSSION AND ANALYSIS

Our discussion and analysis of Tapestry Community Development District, Kissimmee, Florida (“District”) provides a narrative overview of the District’s financial activities for the fiscal year ended September 30, 2020. Please read it in conjunction with the District’s Independent Auditor’s Report, basic financial statements, accompanying notes and supplementary information to the basic financial statements.

FINANCIAL HIGHLIGHTS

The liabilities of the District exceeded its assets at the close of the most recent fiscal year resulting in a net position deficit balance of ($4,030,866).

The change in the District’s total net position in comparison with the prior fiscal year was $161,273, an increase. The key components of the District’s net position and change in net position are reflected in the table in the government-wide financial analysis section.

At September 30, 2020, the District’s governmental funds reported combined ending fund balances of
$1,421,807, an increase of $78,249 in comparison with the prior fiscal year. The total fund balance is non-spendable for prepaid and other items, restricted for debt service and capital projects, and the remainder is unassigned fund balance which is available for spending at the District’s discretion.

OVERVIEW OF FINANCIAL STATEMENTS

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

Government-Wide Financial Statements

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

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

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

The government-wide financial statements include all governmental activities that are principally supported by assessments. The District does not have any business-type activities. The governmental activities of the District include the general government (management) and maintenance functions.

Fund Financial Statements

A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The District has one fund category: governmental funds.

Governmental Funds

Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a District’s near-term financing requirements.

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

The District maintains three governmental funds for external reporting. Information is presented separately in the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances for the general fund, debt service fund, and capital projects fund, all of which are major funds.

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

Notes to the Financial Statements

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

GOVERNMENT-WIDE FINANCIAL ANALYSIS

As noted earlier, net position may serve over time as a useful indicator of an entity’s financial position. In the case of the District, liabilities exceeded assets at the close of the most recent fiscal year.

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

NET POSITION SEPTEMBER 30,
	2020	2019	
Current and other assets	$  1,437,079	$  1,350,730	
Capital assets, net of depreciation	1,458,380	1,512,394	
Total assets	2,895,459	2,863,124	
Current liabilities	151,325	145,263	
Long-term liabilities	6,775,000	6,910,000	
Total liabilities	6,926,325	7,055,263	
Net position
Net investment in capital assets	
(5,297,494)	
(5,381,711)	
Restricted	516,590	513,574	
Unrestricted	750,038	675,998	
Total net position	$ (4,030,866)	$ (4,192,139)	
The District’s net position reflects its investment in capital assets (e.g. land, land improvements, and infrastructure) less any related debt used to acquire those assets that is still outstanding. These assets are used to provide services to residents; consequently, these assets are not available for future spending. Although the District’s investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.

The restricted portion of the District’s net position represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net position may be used to meet the District’s other obligations.

The District’s net position increased during the most recent fiscal year. The majority of the increase represents the extent to which ongoing program revenues exceeded the cost of operations and depreciation expense.

Key elements of the change in net position are reflected in the following table:

CHANGES IN NET POSITION
FOR THE FISCAL YEAR ENDED SEPTEMBER 30,
2020	2019
Revenues:
Program revenues
Charges for services	
$	675,910	
$	672,713	
Operating grants and contributions	6,105	15,269	
Capital grants and contributions	158	261	
General revenues	302	284	
Total revenues	682,475	688,527	
Expenses:
General government	
75,782	
70,317	
Maintenance and operations	116,039	104,679	
Interest	329,381	334,167	
Total expenses	521,202	509,163	
Change in net position	161,273	179,364	
Net position - beginning	(4,192,139)	(4,371,503)	
Net position - ending	$ (4,030,866)	$ (4,192,139)	
As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year ended September 30, 2020 was $521,202. The costs of the District’s activities were primarily funded by program revenues, which was comprised primarily of assessments. The decrease in program revenues is due to a decrease in interest income. The increase in expenses is due to a greater maintenance expense in the current year than in the prior year.

GENERAL BUDGETING HIGHLIGHTS

An operating budget was adopted and maintained by the governing board for the District pursuant to the requirements of Florida Statutes. The budget is adopted using the same basis of accounting that is used in preparation of the fund financial statements. The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2020.

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets

At September 30, 2020, the District had $1,620,422 invested in capital assets for its governmental activities. In the government-wide financial statements depreciation of $162,042 has been taken, which resulted in a net book value of $1,458,380. More detailed information about the District’s capital assets is presented in the notes of the financial statements.

Capital Debt

At September 30, 2020, the District had $6,775,000 Bonds outstanding for its governmental activities. More detailed information about the District’s capital debt is presented in the notes of the financial statements.

ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND OTHER EVENTS

The District does not anticipate any major projects or significant changes to its infrastructure maintenance program for the subsequent fiscal year. In addition, it is anticipated that the general operations of the District will remain fairly constant.

CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT

This financial report is designed to provide our citizens, land owners, customers, investors and creditors with a general overview of the District’s finances and to demonstrate the District’s accountability for the financial resources it manages and the stewardship of the facilities it maintains. If you have questions about this report or need additional financial information, contact the Tapestry Community Development District’s Finance Department at 219 East Livingston Street, Orlando, Florida 32801.

TAPESTRY COMMUNITY DEVELOPMENT DISTRICT KISSIMMEE, FLORIDA
STATEMENT OF NET POSITION SEPTEMBER 30, 2020

	Governmental
	Activities		
ASSETS		
Cash	$	755,197	
Assessments receivable	4,684	
Prepaids and other assets	8,689	
Restricted assets:		
Investments	668,509	
Capital assets:		
Depreciable, net		1,458,380 	
Total assets		2,895,459 	
LIABILITIES		
Accounts payable	10,122	
Accrued interest payable	136,053	
Due to Developer	5,150	
Non-current liabilities:		
Due within one year	140,000	
Due in more than one year		6,635,000 	
Total liabilities		6,926,325 	
NET POSITION		
Net investment in capital assets	(5,297,494)	
Restricted for debt service	516,590	
Unrestricted		750,038 	
Total net position	 $	(4,030,866)	

See notes to the financial statements

TAPESTRY COMMUNITY DEVELOPMENT DISTRICT KISSIMMEE, FLORIDA
STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2020

Program Revenues

Net (Expense) Revenue and Changes in Net Position

Charges for

Operating Grants and

Capital Grants and

Governmental

Functions/Programs	 Expenses	Services	Contributions	Contributions	Activities	 Primary government:
Governmental activities:
General government	$	75,782	$	205,545	$	-	$	-	$	129,763	
Maintenance and operations	116,039	-	-	158	(115,881)	
Interest on long-term debt		329,381	470,365	6,105	-	147,089 
Total governmental activities		521,202	675,910	6,105	158	160,971 

General revenues:
Unrestricted investment earnings		302 	
Total general revenues		302 	
Change in net position	161,273	
Net position - beginning		(4,192,139)	
Net position - ending	 $	(4,030,866)	

See notes to the financial statements

BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2020

	Major Fund	
Capital

Total Governmental

General

Debt Service

Projects

Funds

ASSETS		
Cash	$	755,197	$	-	$	-	$	755,197	
Investments	-	649,383	19,126	668,509	
Assessments receivable	1,424	3,260	-	4,684	
Prepaids and other assets	8,689	-	-	8,689	
Total assets	$	765,310	$	652,643	$	19,126	$  1,437,079	

LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable	$	10,122	$	-	$	-	$	10,122	
Due to Developer	5,150	-	-	5,150	
Total liabilities	15,272	-	-	15,272	

Fund balances: Nonspendable:
Prepaids and other items		8,689		-		-		8,689	
Restricted for:									
Debt service		-		652,643		-		652,643	
Capital projects		-		-		19,126		19,126	
Unassigned		741,349		-		-		741,349	
Total fund balances		750,038		652,643		19,126		1,421,807	

Total liabilities and fund balances	
$	
765,310	
$	
652,643	
$	
19,126	
$	
1,437,079	

RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION
SEPTEMBER 30, 2020

Fund balance - governmental funds	$	1,421,807

Amounts reported for governmental activities in the statement of net position are different because:

Capital assets used in governmental activities are not financial resources and, therefore, are not reported as assets in the governmental funds. The statement of net position includes those capital assets, net of any accumulated depreciation, in the net position of the government as a whole.
Cost of capital assets	1,620,422
Accumulated depreciation	   (162,042)	1,458,380

Liabilities not due and payable from current available resources are not reported as liabilities in the governmental fund financial statements. All liabilities, both current and long-term, are reported in the government-wide financial statements.
Accrued interest payable	(136,053)
Bonds payable		(6,775,000)		 (6,911,053)  Net position of governmental activities			$	(4,030,866)

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2020

	Major Funds	
Capital

Total Governmental

	General	Debt Service	Projects	Funds	
REVENUES
Assessments	
$	205,545	
$	470,365	
$	-	
$	675,910	
Interest	302	6,105	158	6,565	
Total revenues	205,847	476,470	158	682,475	

EXPENDITURES
Current:
General government	69,782	-	6,000	75,782	
Maintenance and operations	62,025	-	-	62,025	
Debt service:
Principal	
-	
135,000	
-	
135,000	
Interest	-	331,419	-	331,419	
Total expenditures	131,807	466,419	6,000	604,226	

Excess (deficiency) of revenues over (under) expenditures	

74,040	

10,051	

(5,842)	

78,249	

OTHER FINANCING SOURCES (USES)
Transfers in (out)	

-	

(9,073)	

9,073	

-	
Total other financing sources (uses)	-	(9,073)	9,073	-	

Net change in fund balances	
74,040	
978	
3,231	
78,249	
Fund balances - beginning	675,998	651,665	15,895	1,343,558	

Fund balances - ending	
$	750,038	
$	652,643	
$	19,126	
$  1,421,807	

RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2020

Net change in fund balances - total governmental funds	$	78,249 Amounts reported for governmental activities in the statement of activities
are different because:
Depreciation on capital assets is not recognized in the governmental fund financial statements but is reported as an expense in the statement

of activities.
Repayment of long-term liabilities are reported as expenditures in the governmental fund financial statement but such repayments reduce liabilities in the statement of net position and are eliminated in the statement of activities.
The change in accrued interest on long-term liabilities between the current and prior fiscal year is recorded in the statement of activities but not in the fund financial statements.

(54,014)

135,000

	2,038 

Change in net position of governmental activities	$	161,273

NOTES TO FINANCIAL STATEMENTS

NOTE 1 – NATURE OF ORGANIZATION AND REPORTING ENTITY

Tapestry Community Development District ("District") was established on November 5, 2013 by the Kissimmee City Commission, Kissimmee Ordinance 2875, pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes. The Act provides, among other things, the power to manage basic services for community development and to levy and assess non-ad valorem assessments for the financing and maintenance of improvements.

The District was established for the purposes of financing and managing the acquisition, construction, maintenance and operation of a portion of the infrastructure necessary for community development within the District.

The District is governed by the Board of Supervisors ("Board"), which is composed of five members. The Supervisors are elected on an at-large basis by the owners of the property within the District. The Board of Supervisors of the District exercise all powers granted to the District pursuant to Chapter 190, Florida Statutes. At September 30, 2020, two of the seats are vacant and three of the Board members are affiliated with Mattamy Florida LLC (“Developer”).

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

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

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Government-Wide and Fund Financial Statements
The basic financial statements include both government-wide and fund financial statements.

The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements.

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

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

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures are recorded only when payment is due.

Assessments
Assessments are non-ad valorem assessments on benefited property within the District. Operating and maintenance assessments are based upon the adopted budget and levied annually at a public hearing of the District. Debt service assessments are levied when Bonds are issued and assessed and collected on an annual basis. The District may collect assessments directly or utilize the uniform method of collection under Florida Statutes. Direct collected assessments are due as determined by annual assessment resolution adopted by the Board of Supervisors. Assessments collected under the uniform method are mailed by the County Tax Collector on November 1 and due on or before March 31 of each year. Property owners may prepay a portion or all of the debt service assessments on their property subject to various provisions in the Bond documents.

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

The District reports the following major governmental funds:

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

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

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

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

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

Assets, Liabilities and Net Position or Equity

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

Deposits and Investments
The District’s cash and cash equivalents are considered to be cash on hand and demand deposits (interest and non-interest bearing).

The District has elected to proceed under the Alternative Investment Guidelines as set forth in Section
218.415 (17) Florida Statutes. The District may invest any surplus public funds in the following:

The Local Government Surplus Trust Funds, or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act;
Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency;
Interest bearing time deposits or savings accounts in qualified public depositories;
Direct obligations of the U.S. Treasury.

Securities listed in paragraph c and d shall be invested to provide sufficient liquidity to pay obligations as they come due. In addition, surplus funds may be deposited into certificates of deposit which are insured and any unspent Bond proceeds are required to be held in investments as specified in the Bond Indenture.

The District records all interest revenue related to investment activities in the respective funds. Investments are measured at amortized cost or reported at fair value as required by generally accepted accounting principles.

Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements.

Capital Assets
Capital assets which include property, plant and equipment, and infrastructure assets (e.g., roads, sidewalks and similar items) are reported in the government activities columns in the government-wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than $5,000 (amount not rounded) and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value at the date of donation.

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

Property, plant and equipment of the District are depreciated using the straight-line method over the following estimated useful lives:
Assets	Years Stormw ater system		30

In the governmental fund financial statements, amounts incurred for the acquisition of capital assets are reported as fund expenditures. Depreciation expense is not reported in the governmental fund financial statements.

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

Assets, Liabilities and Net Position or Equity (Continued)

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

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

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

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

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

The District can establish limitations on the use of fund balance as follows:

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

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

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

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

Other Disclosures

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

NOTE 3 – BUDGETARY INFORMATION

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

The District follows these procedures in establishing the budgetary data reflected in the financial statements.

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

NOTE 4 – DEPOSITS AND INVESTMENTS

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

Investments
The District’s investments were held as follows at September 30, 2020:

Amortized Cost	Credit Risk		Maturities Weighted average of the

Fidelity Government Portfolio	$	668,509	S&P AAAm

fund portfolio: 45 days

Credit risk – For investments, credit risk is generally the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Investment ratings by investment type are included in the preceding summary of investments.

Concentration risk – The District places no limit on the amount the District may invest in any one issuer.

Interest rate risk – The District does not have a formal policy that limits investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates.

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

Investments (Continued)

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

These guidelines recognize a three-tiered fair value hierarchy, in order of highest priority, as follows:

Level 1: Investments whose values are based on unadjusted quoted prices for identical investments in active markets that the District has the ability to access;
Level 2: Investments whose inputs - other than quoted market prices - are observable either directly or indirectly; and,
Level 3: Investments whose inputs are unobservable.

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

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

NOTE 5 – INTERFUND TRANSFERS

Interfund transfers for the fiscal year ended September 30, 2020 were as follows:

Fund	Transfer in	Transfer Out

Debt service

$	-	$

9,073

Capital projects	9,073	-	
Total	$	9,073	$	9,073	

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

NOTE 6 – CAPITAL ASSETS

Capital asset activity for the fiscal year ended September 30, 2020 was as follows:

Governmental activities
Capital assets, being depreciated Stormw ater system

Beginning Balance

$ 1,620,422	$

Additions	Reductions

-	$	-

Ending Balance

$ 1,620,422

Total capital assets, being depreciated	1,620,422	-	-	1,620,422	

Less accumulated depreciation for: Stormw ater system	

(108,028)	

(54,014)	

-	

(162,042)	
Total accumulated depreciation	(108,028)	(54,014)	-	(162,042)	

Total capital assets, being depreciated, net	
1,512,394	
(54,014)	
-	1,458,380	

Governmental activities capital assets, net	
$ 1,512,394	
$	(54,014)	
$	-	$ 1,458,380	

Depreciation expense was charged to the maintenance and operations function.

On April 1, 2016, the District issued $7,285,000 of Special Assessment Revenue Bonds, Series 2016 consisting of $650,000 Term Bonds Series 2016 due on May 1, 2021 with a fixed interest rate of 3.625%,
$780,000 Term Bonds Series 2016 due on May 1, 2026 with a fixed interest rate of 4.25%, $2,225,000 Term Bonds Series 2016 due on May 1, 2036 with a fixed interest rate of 4.8%, and $3,630,000 Term Bonds Series 2016 due on May 1, 2046 with a fixed interest rate of 5%. The Bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District. Interest is to be paid semiannually on each May 1 and November 1. Principal on the Bonds is to be paid serially commencing May 1, 2017 through May 1, 2046.

The Series 2016 Bonds are subject to redemption at the option of the District prior to their maturity. The Series 2016 Bonds are subject to optional redemption. The Bonds are subject to extraordinary mandatory redemption prior to their selected maturity in the manner determined by the Bond Registrar if certain events occurred as outlined in the Bond Indenture.

The Bond Indenture established a debt service reserve requirement as well as other restrictions and requirements relating principally to the use of proceeds to pay for the infrastructure improvements and the procedures to be followed by the District on assessments to property owners. The District agrees to levy special assessments in annual amounts adequate to provide payment of debt service and to meet the reserve requirements. The District was in compliance with the requirements at September 30, 2020.

Long-term debt activity for the fiscal year ended September 30, 2020 was as follows:

	Beginning
Balance	
Additions	
Reductions	Ending
Balance	Due Within
One Year	
Governmental activities Bonds payable:
Series 2016	

$  6,910,000	

$	-	

$	135,000	

$ 6,775,000	

$  140,000	
Total	$  6,910,000	$	-	$	135,000	$ 6,775,000	$  140,000	

At September 30, 2020, the scheduled debt service requirements on the long-term debt were as follows:

2021	$	140,000	$	326,526	$	466,526	
2022	145,000	321,450	466,450	
2023	150,000	315,288	465,288	
2024	155,000	308,912	463,912	
2025	160,000	302,326	462,326	
2026-2030	935,000	1,395,686	2,330,686	
2031-2035	1,185,000	1,149,660	2,334,660	
2036-2040	1,510,000	832,200	2,342,200	
2041-2045	1,945,000	414,000	2,359,000	
2046	450,000	22,500	472,500	
Total	$  6,775,000	$  5,388,548	$ 12,163,548	

Year ending September 30:

Governmental Activities

Principal	Interest	Total

NOTE 8 – DEVELOPER TRANSACTIONS

The Developer owns a portion of land within the District; therefore, assessment revenues in the general and debt service funds include the assessments levied on those lots owned by the Developer. The District owes the Developer $5,150 as of September 30, 2020 due to an overpayment of assessments in a prior fiscal year.

NOTE 9 – CONCENTRATION

The District’s activity is dependent upon the continued involvement of the Developer, the loss of which could have a material adverse effect on the District’s operations.

NOTE 10 – MANAGEMENT COMPANY

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

NOTE 11 – RISK MANAGEMENT

The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters. The District has obtained commercial insurance from independent third parties to mitigate the costs of these risks; coverage may not extend to all situations. There were no claims during the past three years.

NOTE 12 – SUBSEQUENT EVENTS

Developer Transactions
Subsequent to fiscal year end, $19,627 was paid to the Developer in relation to the infrastructure and improvement project.

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2020

	
Budgeted
	Amounts	 Original & Final	

Actual Amounts	Variance with Final Budget - Positive
(Negative)	
REVENUES
Asessments	
$	203,354	
$	205,545	
$	2,191	
Interest	-	302	302	
Total revenues	203,354	205,847	2,493	

EXPENDITURES
Current:
General government	96,375	69,782	26,593	
Maintenance and operations	106,979	62,025	44,954	
Total expenditures	203,354	131,807	71,547	

Excess (deficiency) of revenues over (under) expenditures	

 $	-		

74,040	

$	74,040	

Fund balance - beginning		
	675,998 		
Fund balance - ending		 $	750,038 		

See notes to required supplementary information

NOTES TO REQUIRED SUPPLEMENTARY INFORMATION

The District is required to establish a budgetary system and an approved Annual Budget for the general fund. The District’s budgeting process is based on estimates of cash receipts and cash expenditures which are approved by the Board. The budget approximates a basis consistent with accounting principles generally accepted in the United States of America (generally accepted accounting principles).

The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2020, the current fiscal year.

951 Yamato Road ▪ Suite 280
Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

To the Board of Supervisors
Tapestry Community Development District Kissimmee, Florida

We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities and each major fund of Tapestry Community Development District, Kissimmee, Florida (“District”) as of and for the fiscal year ended September 30, 2020, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our opinion thereon dated June 14, 2021.
Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the District’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control.

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

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the District’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

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

June 14, 2021

INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10) OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

To the Board of Supervisors
Tapestry Community Development District Kissimmee, Florida

We have examined Tapestry Community Development District, Kissimmee, Florida’s (“District”) compliance with the requirements of Section 218.415, Florida Statutes, in accordance with Rule 10.556(10) of the Auditor General of the State of Florida during the fiscal year ended September 30, 2020. Management is responsible for District’s compliance with those requirements. Our responsibility is to express an opinion on District’s compliance based on our examination.

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

In our opinion, the District complied, in all material respects, with the aforementioned requirements for the fiscal year ended September 30, 2020.

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

June 14, 2021

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

To the Board of Supervisors
Tapestry Community Development District Kissimmee, Florida

Report on the Financial Statements

We have audited the accompanying basic financial statements of Tapestry Community Development District, Kissimmee, Florida ("District") as of and for the fiscal year ended September 30, 2020, and have issued our report thereon dated June 14, 2021.

Auditor’s Responsibility

We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and Chapter 10.550, Rules of the Florida Auditor General.

Other Reporting Requirements

We have issued our Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; and Independent Auditor’s Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated June 14, 2021, should be considered in conjunction with this management letter.

Purpose of this Letter

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

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

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

We wish to thank Tapestry Community Development District, Kissimmee, Florida and the personnel associated with it, for the opportunity to be of service to them in this endeavor as well as future engagements, and the courtesies extended to us.

June 14, 2021

REPORT TO MANAGEMENT

CURRENT YEAR FINDINGS AND RECOMMENDATIONS

None

PRIOR YEAR FINDINGS AND RECOMMENDATIONS

None

COMPLIANCE WITH THE PROVISIONS OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

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

A statement as to whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report.

There were no significant findings and recommendations made in the preceding annual financial audit report for the fiscal year ended September 30, 2019.

Any recommendations to improve the local governmental entity's financial management.

There were no such matters discovered by, or that came to the attention of, the auditor, to be reported for the fiscal year ended September 30, 2020.

Noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance.

There were no such matters discovered by, or that came to the attention of, the auditor, to be reported, for the fiscal year ended September 30, 2020.

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

The District has not met one or more of the financial emergency conditions described in Section 218.503(1), Florida Statutes.

We applied financial condition assessment procedures and no deteriorating financial conditions were noted as of September 30, 2020. It is management’s responsibility to monitor financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same.

SECTION VII

RESOLUTION 2021-10

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TAPESTRY COMMUNITY DEVELOPMENT DISTRICT TO DESIGNATE DATE, TIME AND PLACE OF PUBLIC HEARING AND AUTHORIZATION TO PUBLISH NOTICE OF SUCH HEARING FOR THE PURPOSE OF ADOPTING AMENDED AND RESTATED RULES OF PROCEDURE AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Tapestry Community Development District (the "District") is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within Osceola County, Florida; and

WHEREAS, the District's Board of Supervisors (the "Board") is authorized by Section 190.011(5), Florida Statutes, to adopt rules and orders pursuant to Chapter 120, Florida Statutes; and

WHEREAS, the Board has previously adopted Rules of Procedure to govern the administration of the District; and

WHEREAS, to provide for efficient and effective District operations and to maintain compliance with recent changes to Florida law, the Board of Supervisors finds that it is in the best interests of the District to adopt an Amended and Restated Rules of Procedure.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE TAPESTRY COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. A Public Hearing will be held to adopt Amended and Restated Rules of

Procedure on 	

2021, at 	

.m., at the Hart Memorial Central Library, Roseada

Room, 211 East Dakin Avenue, Kissimmee, Florida, 34741.

SECTION 2.	The District Secretary is directed to publish notice of the hearing in accordance with Section 120.54, Florida Statutes.

SECTION 3. This Resolution shall become effective immediately upon its adoption.

PASSED AND ADOPTED this 11th day of August, 2021.

ATTEST:	TAPESTRY COMMUNITY
DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairman/Vice Chairman

SECTION V.11-1

SECTION C

SECTION 1

Tapestry
Community Development District
Summary of Invoices
06/01/21 - 08/03/21

	Fund	Date	CheckNo."s	Amount	
	General Fund				
	6/10/21	411- 414	$	9,593.78	
	6/24/21	415	$	203.75	
	6/25/21	416	$	14,182.74	
	7/28/21	417-420	$	12,630.79	
Total			$	36,611.06  I	

DATE	DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS
6/10/21 00015	5/31/21 194379	202105 320-53800-46400
POND MAINTENANCE - JUN 21

*	595.00

AMOUNT	#

APPLIED AQUATIC MANAGEMENT, INC.
6/10/21 00001	6/01/21 223	202106 310-51300-34000	*
MANAGEMENT FEES - JUN 21
6/01/21 223	202106 310-51300-35100	* INFORMATION TECH - JUN 21
6/01/21 223	202106 310-51300-31300	*
DISSEMINATION SVCS-JUN 21
6/01/21 223	202106 310-51300-51000	* OFFICE SUPPLIES
6/01/21 223	202106 310-51300-42000	*
POSTAGE
6/01/21 224	202106 320-53800-12000	* FIELD MANAGEMENT - JUN 21

- - - - - - - - - - - -5-95-.0-0 000411

3,004.17

100.00
291.67
.45
28.74
643.75

6/10/21 00010

6/10/21 00013

6/24/21 00006

GOVERNMENTAL MANAGEMENT SERVICES
6/01/21 21254	202106 310-51300-32200
AUDIT FYE 09/30/2020

- - - - - - - - - - - - - - - - - - -

GRAU AND ASSOCIATES
6/01/21 OS 22556 202106 320-53800-46200 MTHLY LANDSCAPE MAINT-JUN

- - - - - - - - - - - - - - - - - -

-YELLOWSTONE LANDSCAPE-SOUTHEAST,LLC 5/31/21 03721515 202105 310-51300-48000
NOT OF BOS MEETING 6/9/21

- - - - - - - - - - -4-,0-68-.7-8 000412

1,000.00

*

3,930.00

- - - - - - - - - - -1-,0-00-.0-0 000413
*

203.75

- - - - - - - - - - -3-,9-30-.0-0 000414
*

6/25/21 00012

ORLANDO SENTINEL
6/25/21 06252021 202106 300-20700-10200
ASSESSMENT TXFER - S2016

*	14,182.74

203.75 000415

TAPESTRY CDD C/0 REGIONS BANK	14,182.74 000416

7/28/21 00001

7/01/21 230	202107 310-51300-34000
MANAGEMENT FEES - JUL 21 7/01/21 230	202107 310-51300-35100
INFORMATION TECH - JUL 21 7/01/21 230	202107 310-51300-31300
DISSEMINATION SVCS-JUL 21
7/01/21 230	202107 310-51300-51000
OFFICE SUPPLIES
7/01/21 230	202107 310-51300-42000
POSTAGE
7/01/21 230	202107 310-51300-42500
COPIES

*	3,004.17
*	100.00
*	291.67
*	.60
*	7.50
*	56.10

TAP2 TAPESTRY	MBYINGTON

DATE	DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS
7/01/21 231	202107 320-53800-12000
FIELD MANAGEMENT - JUL 21

*	643.75

AMOUNT	#

7/28/21 00010

7/28/21 00004

7/28/21 00017

GOVERNMENTAL MANAGEMENT SERVICES
7/01/21 21453	202107 310-51300-32200
AUDIT FYE 09/30/2020

- - - - - - - - - - - - - - - - - - -

GRAU AND ASSOCIATES
6/14/21 123221	202105 310-51300-31500
GEN.COUNSEL/MTHLY MEETING

- - - - - - - - - - - - - - - - - - -

HOPPING GREEN & SAMS
7/06/21 07062021 202107 300-20700-10000
AUDITOR ADJUSTING ENTRY

- - - - - - - - - - -4-,1-03-.7-9 000417

2,500.00

*

877.00

- - - - - - - - - - -2-,5-00-.0-0 000418
*

5,150.00

- - - - - - - - - - - -8-77-.0-0 000419
*

MATTAMY HOMES	5,150.00 000420

TOTAL FOR BANK A TOTAL FOR REGISTER

36,611.06
36,611.06

TAP2 TAPESTRY	MBYINGTON

SECTION 2

Tapestry
Community Development District

Unaudited Financial Reporting
June 30, 2021

Table of Contents

		Balance Sheet 

		General Fund 

		Debt Service Fund 

Capital Projects Fund 

		Month to Month 

Long Term Debt Summary

		Assessment Receipt Schedule 

Combined Balance Sheet
June 30, 2021

	General Fund	Debt Ser\'tce Fund	Capital Projects Fund	Total\· Governmental Funds	
Assets:					
Cash
Investments	$	868,648	$	$	$	868,648	
Series 2016					
Reserve	$	$	464,012	$	$	464,012	
Revenue	$	$	185,466	$	$	185,466	
Interest	$	$	1	$	$	1	
Principal	$	$	1	$	$	1	
Redemption	$	$	23	$	$	23	
Due From General Fund	$	$	2,881	$	$	2,881	

Total Assets	$	868.648	$	6S21384	$	!	11S211031
Liabilities:		
Accounts Payable	$	1,503	$	$	$	1,503		
Due to Developer	$	5,150	$	$	$	5,150		
Due To Debt Service	$	2,881	$	$	$	2,881		
Total Liabilities	$	9,534	$	s	$	9,534		

Fund Balances:						
Unassigned	$	859,114	$	$	$	859,114		
Assigned for Debt Service	$	$	652,384	$	$	652,384		
Total Fund Balances	$	859,114	$	6S2,384	s	$	1,511,497		

Total Liabilities & Fund Balance	
$	868,648	
$	652,384	
$	
-	$	1,521,031		

General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2021

AduplL·d	Prm ,lll'd dudget	1\l1u,II

Bm:wu::i.		
Non-Ad Valorem Assessments	$	203,354	$	203,354	$	203,939	585		
Interest	$		$		$	74	74		
Total Revenues	$	203,354	s	203,354		204,013	$	659		
Expeodib1a:,·									
C-c:a.:cal.t:.tirfmUdacaiU									
Supervisor Fees	$	4,000	$	3,000	$	400	$	2,600		
FICA Expense	$	100	$	75	$	15	$	60		
Engineering	$	10,000	$	7,500	$	625	$	6,875		
Attorney	$	20,000	$	15,000	$	3,648	$	11,353		
Annual Audit	$	3,500	$	1,000	$	1,000	$		
AssessmentAdmlnistration	$	2,500	$	2,500	$	2,500	$		
Arbitrage	$	450	$	450	$	450	$		
Disseminatlon	$	3,500	$	2,625	$	2,625	$	(OJ		
Trustee Fees	$	3,500	$		$		$		
Management Fees	$	36,050	$	27,038	$	27,038	$	(OJ		
infonnation Technology	$	1,200	$	900	$	900	$		
Telephone	$	300	$	225	$		$	225		
Postage	$	800	$	600	$	92	$	SOB		
Insurance	$	6,500	$	6,500	$	6,189	$	311		
Printing&Binding	$	1,000	$	750	$	28	$	722		
Legal Advertising	$	2,500	$	1,875	$	353	$	1,522		
Other Current Charges	$	1,000	$	1,000	$	1,376	$	(376J		
Office Supplies	$	500	$	375	$	2	$	373		
Property Appraiser	$	300	$	300	$	303	$	(3J		
Dues, Licenses &Subscriptions	$	175	$	175	$	175	$		
Total General &Administrative,	s	97,875	$	71,888	s	47,719	s	24,169		

Dp.:Eatioos aod ltalo&eoaoc.: bgco11:1									
Field Expenses
Field Management	
$	
7,725	
$	
5,794	

$	
5,794	
s		
Property Insurance	$	4,500	$	4,500	$		$	4,500		
Landscape Maintenance	$	47,160	$	35,370	$	35,370	$		
Landscape Contingency	$	5,490	$	4,118	$	700	$	3,418		
Lake Maintenance	$	7,354	$	5,516	$	5,355	$	161		
Stonnwat.er Maintenance	$	10,000	$	7,500	$		$	7,500		
Wetland Maintenance	$	4,600	$	3,450	$		$	3,450		
Plant Replacement	$	5,000	$	3,750	$		$	3,750		
Contingency	$	13,650	$	10,238	$		$	10,238		
Total O eratlons and Maintenancenses		s	105.479	s	 B0,234-	$	47,219	33.016		
Total E dltures	s	203.354	s	152.122	s	94,938	s	57.184		

Excess Revenues (Expenditures)	
S	
•			
S	
i OY,076			
Fund Balance - Beginning	$					750,038			
									
9 1+

Debt Service Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2021

Adopted	Prnrated Budget	Acl:l1al

1

I	••	, , .	, 1

•	••_._,	_

Beven11es		
Special Assessments	$	464,000	$	464,000	$	466,718	$	2,718	
Interest	$		$		$	48	$	48	
Total Revenues	s	464,000	s	464,000	s	466,766	s	2,766	

ExPeoditnrrs·									
General & Administrntive·									
JnterestPayment-11/1	$	163,263	$	163,263	$	163,263	$		
Principal Payment- 5/1	$	140,000	$	140,000	$	140,000	$		
Interest Payment - 5/1	$	163,263	$	163,263	$	163,263	$		
Total Expenditures	$	466,525	s	466,525	s	466,525	$		

Qtbec smmestQlses)									
Transfer ln/(Out)	$		$		$	(500)	$	(500)	
Total Other Financinl!Sources {!!ses)	s		s		s	{500)	s	{500)	

Excess Revenues (Expenditures)	
$	
[2.525)			
$	
(2S9)			
Fund Balance• Beginning	$	184,506			$	652,643			

	$	181,981	

Capital Projects Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2021

	/\dopted	Prorated Budget		/\ch1c1I		
	,· '	·, .	·:  :  '	-	,		.	_ _I	
Revenues

Interest	

$	

$	

$		

1	

$	

1	
Total Revenues	$	$	s		1	$	1	

EXPeuditnres·								
Geuecol & Acfminbtrutive·								

Capital Ouday	
$	
$	
$	
19,627	
$	(19,627)	
!Total Expenditures		s	s	s		19,627		s	(19,627)	
Other Financinr Sn11rces /(J[sesl				
Transfer In/(Out)	$	$	$	
500	
$	500	
Total Other Financin; Sources (Usesl	$	s	s	500	$	500	

Excess Revenues (Ex1lenditurcs)	
S	•	$	
(19,126)		
 Fund Balance - Beginning	$	$	19,126		

	s			

Tapestry
Community Development District
Month tn Month

l!m3:lwl:i

(h!	l<11v	ltt•t	iJ•	,.1,	MJ1	,\Jll	\1J	h:n	lul	,\u,.:	l'P	'/'o\;1]

Non-Ad ValoremAssessments	$	$	14,226  $	177,026  $	2,246  $	2,985  $	2,223  $	2,587  $	1,253  $	1,394  $	$	$	$	203,939
Interest	$	6  s	6  s	10  s	12  $	10  $	o $	7  $	o $	7  $	$	$	$	74

Total Revenues	s	6	s	14,232	$	177,036	$	2,257	$	2,995	$	2,231	$	2,594	$	1,260	$	1,401		s	s	204,013	
Hxreodltnres·																		
D£ml& ddmtat.stm,tu·																		
Supervisor Fees	$		$		$		$	s		$	$	$	$	400	$	$	$	$	400	
FICA Expense	$		$		$		$	$		$	$	$	$	15	$	$	$	$	15	
Engineering	$		$	201	s		$	$	344	$	$	$	$	$	$	$	$	625	
Attorney	$	100	$	620	$	940	$	71	$	337	$	204	$	324	$	077	$	$	$	$	$	3,640	
Annual Audit	$		$		s		$	$		$	$	$	$	1,000	$	$	$	$	1,000	
Assessment Administration	$	2,500	$		$		$		$		$		$		s		$	$	$	$	$	2,500	
Arbitrage	$		$		$		$		$		$		$		$	450	$	.	$	$	$	$	450	
Dissemination	$	292	$	292	$	292	$	292	$	292	$	292	$	292	$	292	$	292	$	$	$	$	2,625	
Trustee Fees	$		$		$		$		$		$		$		$		$	$	$	$	$		
Management Fees	$	3,004	$	3,004	$	3,004	$	3,004	$	3,004	$	3,004	$	3,004	$	3,004	$	3,004	$	$	$	$	27,030	
Information Technology	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	$	$	$	900	
Telephone																							
Postage	$	7	$	3	$	12	$	4	$		$	7	$	5	$	26	$	29	$	s	$	$	92	
Insurance	$	6,109	$		$		$		$		$		$		$		$	s	s	$	$	6,189	
Printing& Binding	$	15	$	2	$	7	$	2	$		$	2	$		$		$	s	s	$	$	20	
Legal Advertising	$		$	149	$		$		s		s		s		$	204	$	s	s	$	$	353	
Other CurrentCharges	$	27	$	291	$	147	$	147	$	153	s	146	s	154	s	165	s	146	s	s	$	$	1,376	
Office Supplies	$	1	$	0	$	0	$	0	$		s	0	s		$	0	$	0	$	s	$	$	2	
Property Appraiser	$		$		$		$		s	303	$		$		s		$	$	$	$	$	303	
Dues, Licenses &Subsaiptions	$	175	$		$		$		$		$		$		s		$	$	$	$	$	175	
Total General &Administrative:	s	tz,4%	$	4,750	$	4,502	$	3,619	$	4,531	$	3,836	$	l,1178	$	5,118	$	4,987	$	s	$	s	47,719	

$	. s

Oua:atlll!DS andMalob:Daace: EXP1m51:.1

FieldExpenses
Field Management	s	644	$	644  $	644  s	644  $	644  $	644  $	644  $	644  $	644  $	s	s	s	5,794
Property Insurance
Landscape Maintenance	s	3,930  $	3,930  $	3,930  $	3,930  $	3,930  $	3,930  $	3,930  $	3,930  s	3,930  s	s	s	$	35,370
Landscape Contingency	$	$	s	700  $	$	$	$	$	$	$	$	$	s	700
Lake Maintenance	$	595  $	595  $	595  $	595  $	595  $	595  $	595  $	595  $	595  $	$	$	$	5,355
Stormwater Maintenance	$	$	$	s	$
Wetland Maintenance	$	s	s	$	$
Plant Replacement Contingency

Total OEatlons andMaintenance E n1e,   s	5,169  s	5,169  $	5,869 $	5,169  s	5,169 $	5.169 s	S,169 s	S,169 $	5,169 s	s	s	s	47,219

ToW E,ipendltur..

'

17-6,!l_S s

9,919  $

10,371  $

!!,Z!B $

9,700  s

,.oos .$

,.a.1 s

10,287  .s

l. .ISS s
(!l,751J $

J

s

s

'M,9,38

lixccs.'i Revenues (Exi1cmlitures)

$ (17.(i;itJ] $

4,:n 1  $ 16(,/)f,S  $

(fi,S: l)  $ [t'1.7ll'iJ S

(6,774) $ lf,_,1r,.q  S

pJJJ:.'."1 I S

S

1

109,076

5

Tapestry
Community Development District
Long Term Debt Report

SERIES 2016, SPECALASSESSMENT REVENUE BONDS	
INTEREST RATES:	3.625%, 4.250%, 4.800%, 5.000%	
MATURITY DATE:	5/1/2046	
RESERVE FUND DEFINITION	MAXIMUM ANNUAL DEBT SERVICE	
RESERVE FUND REQUIREMENT	$464,000	
RESERVE FUND BALANCE	$464,012	

BONDS OUTSTANDING -4/1/16	$7,285,000	
LESS: MAY 1, 2017 (MANDATORY)	($120,000)	
LESS: MAY 1, 2018 (MANDATORY)	($125,000)	
LESS: MAY 1, 2019 (MANDATORY)	($130,000)	
LESS: MAY 1, 2020 (MANDATORY)	($135,000)	
LESS: MAY 1, 2021(MANDATORY)	($140,000)	
CURRENl;BONDS OUTSTANDING	$6,635,000	

6

Tapestry
Community Development District Special Assessment Receipts Series 2016
Fiscal Year 2021

Net
Gross

$203,312.45
$216,289.84

$464,046.22
$494,982.63

$667,358.67
$711,272.47

12/22/20	ACH	$21,535.03	$430.68	($740.11)	$0.00	$20,364.24 I
01/08/21	ACH	$1,469.90	$29.40	($43.21)	$0.00	$1,397.29
01/08/21	ACH	$6,299.12	$126.00	($185.19)	$0.00	$5,987.93
02/08/21	ACH	$186.55	$3.73	$0.00	$0.00	$182.82
02/08/21	ACH	$10,035.63	$200.70	($201.02)	$0.00	$9,633.91
03/08/21	ACH	$7,544.78	$150.89	($83.26)	$0.00	$7,310.63
04/12/21	ACH	$1,656.44	$33.13	$0.00	$0.00	$1,623.31
04/12/21	ACH	$7,031.98	$140.65	($8.62)	$0.00	$6,882.71
05/11/21	ACH	$4,102.65	$82.06	$99.09	$0.00	$4,119.68
06/08/21	ACH	$439.63	$8.79	$12.92	$0.00	$443.76
06/25/21	ACH	$4,101.81	$82.04	$120.61	$0.00	$4,140.38
TOTAL	$711,272.47	$14,225.46	$26,390.18	$0.00	$670,656.83  I

$1,108.23	$2,536.21	$3,644.44

TOTAL ASSESSMENT LEVY	ASSESSED THROUGH COUNT
30.41%	69.59%	
DATE	DESCRIPTION	GROSSAMT	COMMISSIONS	DISC ENALTY	INTEREST	NET RECEIPTS	I	O&MPortion	DSFPortion	Total	

11/06/20	
ACH	
$3,895.49	
$77.94	
($173.11)	
$0.00	
$3,644.44		
11/20/20	ACH	$45,853.11	$917.02	($1,797.57)	$0.00	$43,138.52		
12/10/20	ACH	$596,416.91	$11,928.37	($23,380.38)	$0.00	$561,108.16		
12/10/20	ACH	$703.44	$14.06	($10.33)	$0.00	$679.05		

$13,117.93	$30,020.59	$43,138.52
$170,626.59	$390,481.57	$561,108.16
$206.49	$472.56	$679.05
$6,192.53	$14,171.71	$20,364.24
$424.90	$972.39	$1,397.29
$1,820.86	$4,167.07	$5,987.93
$55.59	$127.23	$182.82
$2,929.56	$6,704.35	$9,633.91
$2,223.08	$5,087.55	$7,310.63
$493.63	$1,129.68	$1,623.31
$2,092.95	$4,789.76	$6,882.71
$1,252.75	$2,866.93	$4,119.68
$134.94	$308.82	$443.76
$1,259.04	$2,881.34	$4,140.38

$203,939.07	$466,717.76	$670,656.83

100%	Gross Percent Collected
	$0,00	Balance Remalnlne to Collect 

7

SECTION 3

NOTICE OF MEETINGS TAPESTRY COMMUNITY DEVELOPMENT DISTRICT
Fiscal Year 2022

As required by Chapter 190 Florida Statutes, notice is being given that the Board of Supervisors of the Tapestry Community Development District does not meet on a regular basis but will separately publish notice of meetings at least seven days prior to each Board meeting to include the date, time and location of said meetings. Meetings may be continued to a date, time, and place to be specified on the record at the meeting.
There may be occasions when one or more Supervisors will participate by telephone.
Any person requiring special accommodations at a meeting because of a disability or physical impairment should contact the District Office at (407) 841-5524 at least forty-eight (48) hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service 1-800-955-8770, for aid in contacting the District Office.
Each person who decides to appeal any action taken at these meetings 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.

George S. Flint
Governmental Management Services - Central Florida, LLC District Manager