Wynnfield Lakes Community Development District
ANNUAL FINANCIAL REPORT

September 30, 2023

Wynnfield Lakes Community Development District ANNUAL FINANCIAL REPORT
September 30, 2023

TABLE OF CONTENTS

Page Number
REPORT OF INDEPENDENT AUDITORS	1-3
MANAGEMENT’S DISCUSSION AND ANALYSIS	4-8
BASIC FINANCIAL STATEMENTS
Government-wide Financial Statements
Statement of Net Position	9
Statement of Activities	10
Fund Financial Statements
Balance Sheet – Governmental Funds	11
Reconciliation of Total Governmental Fund Balance
to Net Position of Governmental Activities	12
Statement of Revenues, Expenditures and Changes in
Fund Balances – Governmental Funds	13
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds
to the Statement of Activities	14
Statement of Revenues, Expenditures and Changes in Fund
Balances – Budget and Actual – General Fund	15
Notes to the Financial Statements	16-30
INDEPENDENT AUDITORS’ REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN
ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS	31-32
MANAGEMENT LETTER	33-35
INDEPENDENT ACCOUNTANTS’ REPORT/COMPLIANCE WITH
SECTION 218.415, FLORIDA STATUTES	36

REPORT OF INDEPENDENT AUDITORS

To the Board of Supervisors
Wynnfield Lakes Community Development District City of Jacksonville, Florida

Report on Audit of the Financial Statements
Opinion

We have audited the financial statements of the governmental activities and each major fund of Wynnfield Lakes Community Development District (the “District”), as of and for the year ended September 30, 2023, and the related notes to financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of Wynnfield Lakes Community Development District as of September 30, 2023, and the respective changes in financial position and the budgetary comparison for the General Fund for the year then ended in accordance with accounting principles generally accepted in the United States of America.

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

Responsibilities of Management 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; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

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To the Board of Supervisors
Wynnfield Lakes Community Development District

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

Auditor’s Responsibility for the Audit of the Financial Statements

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

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

- 2 -

To the Board of Supervisors
Wynnfield Lakes Community Development District

Required Supplementary Information
Accounting principles generally accepted in the United States of America require that Management’s Discussion and Analysis be presented to supplement the basic financial statements. Such information is the responsibility of management and, 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 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 a report dated February 22, 2024 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 and contracts.

The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Wynnfield Lakes Community Development District’s internal control over financial reporting and compliance.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida February 22, 2024

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Management’s discussion and analysis of Wynnfield Lakes Community Development District’s (the “District”) financial performance provides an objective and easily readable analysis of the District’s financial activities. The analysis provides summary financial information for the District and should be read in conjunction with the District’s financial statements.
OVERVIEW OF THE FINANCIAL STATEMENTS

The District’s basic financial statements comprise three components; 1) Government-wide financial statements, 2) Fund financial statements, and 3) Notes to financial statements. The Government-wide financial statements present an overall picture of the District’s financial position and results of operations. The Fund financial statements present financial information for the District’s major funds. The Notes to financial statements provide additional information concerning the District’s finances.

The Government-wide financial statements are the statement of net position and the statement of activities. These statements use accounting methods similar to those used by private-sector companies. Emphasis is placed on the net position of governmental activities and the change in net position. Governmental activities are primarily supported by special assessments.
The statement of net position presents information on all assets and liabilities of the District, with the difference between assets and liabilities reported as net position. Net position is reported in three categories; 1) net investment in capital assets, 2) restricted, and 3) unrestricted. Assets, liabilities, and net position are reported for all Governmental activities.

The statement of activities presents information on all revenues and expenses of the District and the change in net position. Expenses are reported by major function and program revenues relating to those functions are reported, providing the net cost of all functions provided by the District. To assist in understanding the District’s operations, expenses have been reported as governmental activities. Governmental activities financed by the District include general government, physical environment, culture/recreation, and debt service.

Fund financial statements present financial information for governmental funds. These statements provide financial information for the major funds of the District. Governmental fund financial statements provide information on the current assets and liabilities of the funds, changes in current financial resources (revenues and expenditures), and current available resources.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Fund financial statements include a balance sheet and a statement of revenues, expenditures and changes in fund balances for all governmental funds. A statement of revenues, expenditures, and changes in fund balances – budget and actual is provided for the District’s General Fund. Fund financial statements provide more detailed information about the District’s activities. Individual funds are established by the District to track revenues that are restricted to certain uses or to comply with legal requirements.

The government-wide financial statements and the fund financial statements provide different pictures of the District. The government-wide financial statements provide an overall picture of the District’s financial standing. These statements are comparable to private-sector companies and give a good understanding of the District’s overall financial health and how the District paid for the various activities, or functions, provided by the District. All assets of the District, including, capital assets, are reported in the statement of net position. All liabilities, including principal outstanding on bonds are included. The statement of activities includes depreciation on all long-lived assets of the District, but transactions between the different functions of the District have been eliminated in order to avoid “doubling up” the revenues and expenses. The fund financial statements provide a picture of the major funds of the District. In the case of governmental activities, outlays for long lived assets are reported as expenditures and long-term liabilities, such as general obligation bonds, are not included in the fund financial statements. To provide a link from the fund financial statements to the government-wide financial statements, a reconciliation is provided from the fund financial statements to the government- wide financial statements.
Notes to financial statements provide additional detail concerning the financial activities and financial balances of the District. Additional information about the accounting practices of the District, investments of the District, capital assets and long-term debt are some of the items included in the notes to financial statements.

Financial Highlights

The following are the highlights of financial activity for the year ended September 30, 2023.

The District’s total assets and deferred outflows of resources were exceeded by total liabilities by $(2,585,164) (net position). The District’s net investment in capital assets was $(2,896,229). Unrestricted net position was $264,193 and restricted net position was $46,872.

Governmental activities revenues totaled $1,165,939 while governmental activities expenses totaled $988,134.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)
Financial Analysis of the District
The following schedule provides a summary of the assets, deferred outflows of resources, liabilities and net position of the District and is presented by category for comparison purposes.
Net Position

Governmental Activities
	2023		2022	

Current assets	
$	440,085		
$	397,312	
Restricted assets	395,237		383,591	
Capital assets		1,546,902 			1,684,813 	
Total Assets		2,382,224 			2,465,716 	
Deferred outflows of resources		187,719 			202,637 	
Current liabilities	415,497		394,524	
Non-current liabilities		4,739,610 			5,036,798 	
Total Liabilities		5,155,107 			5,431,322 	
Net investment in capital assets	(2,896,229)		(2,691,896)	
Net position - restricted	46,872		30,997	
Net position - unrestricted		264,193 			(102,070)	
Total Net Position	 $ (2,585,164)		 $ (2,762,969)	

The decrease in capital assets is primarily due to current year depreciation.
The increase in current assets is primarily related to revenues exceeding expenditures at the fund level and the increase in accounts payable in the current year.
The decrease in noncurrent liabilities is due to the principal payments made in the current year.
The increase in total net position is the result of revenues exceeding expenses in the current year.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)
Financial Analysis of the District (Continued)
The following schedule provides a summary of the changes in net position of the District and is presented by category for comparison purposes.
Change in Net Position
Governmental Activities
	2023		2022	
Program Revenues
Charges for services	
$	1,116,026		
$	1,049,442	
General Revenues				
Investment earnings	39,071	2,531	
Miscellanous revenues		10,842 		4,258 	
Total Revenues		1,165,939 		1,056,231 	
Expenses				
General government	111,935	106,682	
Physical environment	270,578	259,445	
Culture/recreation	363,770	382,416	
Interest and other charges		241,851 		262,747 	
Total Expenses		988,134 		1,011,290 	
Change in Net Position	177,805	44,941	
Net Position - Beginning of Year		(2,762,969)		(2,807,910)	
Net Position - End of Year	 $ (2,585,164)	 $	(2,762,969)	

The increase in physical environment is related to the increase in security services in the current year.
The decrease in culture/recreation is related to the decrease in depreciation in the current year.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)
Capital Assets Activity
The following schedule provides a summary of the District’s capital assets activity as of September 30, 2023 and 2022:
Governmental Activities
Description		2023		2022	
Land		$	400,000		$	400,000	
Improvements other than buildings		68,597		68,597	
Infrastructure		1,615,771		1,615,771	
Buildings		2,424,677		2,424,677	
Equipment		121,805		70,301	
Less: accumulated depreciation			(3,083,948)			(2,894,533)	
Total Capital Assets, Net		 $	1,546,902 		 $  1,684,813 	

Capital asset activity consisted of $191,482 in depreciation, $54,950 in additions to equipment and a $1,379 loss on equipment disposal in the current year.
General Fund Budgetary Highlights
Budgeted expenditures exceeded actual expenditures primarily due to less contingency and capital outlay expenditures than were anticipated.
The September 30, 2023 budget was not amended.
Debt Management
Governmental Activities debt includes the following:
In August 2014, the District issued $7,490,000 Special Assessment Refunding Bonds. These bonds were issued to refund of the Series 2005 Special Assessment Bonds. As of September 30, 2023, the balance outstanding for the Series 2014 Bonds was
$5,075,000.
Economic Factors and Next Year’s Budget
Wynnfield Lakes Community Development District does not expect any economic factors to have any significant effect on the financial position or results of operations of the District in fiscal year 2024.
Request for Information
The financial report is designed to provide a general overview of Wynnfield Lakes Community Development District’s finances for all those with an interest. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the Wynnfield Lakes Community Development District, GMS-NF, LLC, 475 West Town Place, Suite 114, St. Augustine, Florida 32092.

September 30, 2023

Governmental Activities
ASSETS		
Current Assets		
Cash and equivalents	$	15,933	
Investments	422,002	
Accounts receivable	650	
Prepaid expenses		1,500 	
Total Current Assets		440,085 	
Non-current Assets		
Restricted		
Investments, at fair value	395,237	
Capital assets, not being depreciated		
Land	400,000	
Capital assets, being depreciated		
Improvements other than buildings	68,597	
Infrastructure	1,615,771	
Buildings	2,424,677	
Equipment	121,805	
Less: accumulated depreciation		(3,083,948)	
Total Non-Current Assets		1,942,139 	
Total Assets		2,382,224 	

DEFERRED OUTFLOWS OF RESOURCES	
Deferred amount on refunding, net	

LIABILITIES	
Current Liabilities	
Accounts payable and accrued expenses	
Accrued interest	
Bonds payable	
Total Current Liabilities	
Non-current Liabilities	
Bonds payable, net	
Total Liabilities	

	187,719 

24,580	
90,917	
      300,000 	
      415,497 	

	4,739,610 
	5,155,107 

NET POSITION	
Net investment in capital assets	
Restricted for debt service	
Unrestricted	
Total Net Position	

(2,896,229)	
46,872	
	264,193 	
 $	(2,585,164)	

For the Year Ended September 30, 2023

Net (Expense)	
Revenue and	
Changes in	
Net Position	
Governmental	
Activities	

Program	
Revenues	
Charges for	
Services	

Functions/Programs	
Primary Government	
Governmental Activities	
General government	
Physical environment	
Culture/recreation	
Interest and other charges	
Total Governmental Activities	

Expenses

$	(111,935)		$	120,671	
(270,578)		227,003	
(363,770)		248,941	
(241,851)		519,411	
 $	(988,134)		 $	1,116,026 	

$	8,736	
(43,575)	
(114,829)	
277,560	
127,892	

General Revenues	
Investment earnings	
Miscellaneous revenues	
Total General Revenues	

39,071	
10,842	
49,913	

Change in Net Position	177,805

Net Position - October 1, 2022	(2,762,969)	
Net Position - September 30, 2023	$	(2,585,164)	

September 30, 2023

		Total	
	Debt	Governmental	
	General			Service			Funds		

$	15,933	
422,002	
650	
1,500	

$	-	
-	
-	
-	

$	15,933	
422,002	
650	
1,500	

ASSETS	
Cash and cash equivalents	
Investments	
Accounts receivable	
Prepaid expenses	
Restricted	
Investments, at fair value	
Total Assets	

	- 	
 $	440,085 	

	395,237 	
 $	835,322 	

	395,237 
 $	395,237 

LIABILITIES AND FUND BALANCES	
Liabilities	
Accounts payable and accrued expenses	

 $	24,580 

 $	- 

 $	24,580 

Fund Balances		
Nonspendable-prepaid expenses	1,500	
Restricted		
Debt service	-	
Assigned		
Capital reserve	125,926	
Unassigned		288,079 	
Total Fund Balances		415,505 	
Total Liabilities and Fund Balances	 $	440,085 	

-	1,500

395,237	395,237

-	
	-  		
	395,237  		
 $	395,237   $		

125,926
288,079 
810,742 
835,322 

TO NET POSITION OF GOVERNMENTAL ACTIVITIES
September 30, 2023

Total Governmental Fund Balances

Amounts reported for governmental activities in the Statement of Net Position	
are different because:	

Capital assets, land, $400,000, improvements other than building, $68,597,	
infrastructure, $1,615,771, buildings, $2,424,677, equipment, $121,805, net of	
accumulated depreciation, $(3,083,948), used in governmental activities are not	
current financial resources and therefore, are not reported at the fund level.	

Long-term liabilities, including bonds payable, $(5,075,000), net of bond discount,	
net, $35,390, are not due and payable in the current period and therefore,	
are not reported at the fund level.	

Deferred outflows of resources are not current financial resources and therefore,	
are not reported at the governmental fund level.	

$	810,742

1,546,902

(5,039,610)

187,719

Accrued interest expense is not a current financial use and therefore, is not reported	
at the governmental fund level.	

	(90,917)

Net Position of Governmental Activities	 $ (2,585,164)

FUND BALANCES – GOVERNMENTAL FUNDS
For the Year Ended September 30, 2023

Revenues	
Special assessments	
Investment earnings	
Miscellaneous	
Total Revenues	

$	596,615	
16,280	
	10,842 	
623,737	

$	519,411	
22,791	
	- 	
542,202	

$	1,116,026	
39,071	
	10,842 	
1,165,939	

Expenditures		
Current		
General government	111,935	
Physical environment	210,569	
Culture/recreation	230,918	
Capital outlay	54,950	
Debt service		
Principal	-	
Interest		- 	
Total Expenditures	608,372	

-	
-	
-	

111,935	
210,569	
230,918	
54,950	

Total	
Governmental	
Funds	

Debt	
Service	

	General	

Other Financing Sources/(Uses)		
Transfers in	12,206	
Transfers out	-	
Total Other Financing Sources/(Uses)	12,206	

290,000	
	228,350 	
518,350	

290,000	
	228,350 	
1,126,722	

-	
(12,206)	
(12,206)	

12,206	
(12,206)	
-	

Excess of revenues over/(under) expenditures	15,365	23,852	39,217

Net Change in Fund Balances	27,571		11,646		39,217	
Fund Balances - October 1, 2022	387,934		383,591		771,525	

Fund Balances - September 30, 2023	
$	415,505		
$	395,237		
$	810,742	

AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
For the Year Ended September 30, 2023

Net Change in Fund Balances - Total Governmental Funds

Amounts reported for governmental activities in the Statement of Activities	
are different because:	

Repayments of bond principal are expenditures in the governmental	
funds, but the repayment reduces long-term liabilities in the Statement	
of Net Position.	

$	39,217

Governmental funds report capital outlays as expenditures. However, in	
the Statement of Activities, the cost of those assets is allocated over their	
estimated useful lives as depreciation. This is the amount that depreciation,	
$(191,482), and loss on equipment disposal, $(1,379), exceeded capital outlay,	
$54,950, in the current period.	

(137,911)

290,000

Amortization of bond discount does not require the use of current resources and	
therefore, is not reported at the fund level. This is the amount of	
amortization in the current period.	(2,812)	

Deferred amount on refunding is recognized as a component of interest on	
long-term debt in the Statement of Activities, but in the governmental funds.	
This is the amount of interest in the current period.	

In the Statement of Activities, interest is accrued on outstanding bonds; whereas	
in governmental funds, interest expenditures are reported when due. This is	
the net amount between the prior year and current year accruals.	

(14,918)

	4,229 

Change in Net Position of Governmental Activities	 $	177,805 

FUND BALANCES – BUDGET AND ACTUAL – GENERAL FUND
For the Year Ended September 30, 2023

Variance with	
Final Budget	
Positive	
(Negative)	

Original	
Budget	

Final	
Budget	

Actual

Revenues	
Special assessments	
Investment income	
Miscellaneous revenues	
Total Revenues	

	
$	594,873	
65	
	2,000 	
	596,938 	

	
$	594,873	
65	
	2,000 	
	596,938 	

	
$	596,615	
16,280	
	10,842 	
	623,737 	

	
$	1,742	
16,215	
	8,842 	
	26,799 	

Expenditures	
Current	
General government	
Physical environment	
Culture/recreation	
Capital outlay	
Total Expenditures	

114,429	
240,905	
202,252	
    100,000 	
    657,586 	

114,429	
240,905	
202,252	
    100,000 	
    657,586 	

111,935	
210,569	
230,918	
    54,950 	
    608,372 	

2,494	
30,336	
(28,666)	
    45,050 	
    49,214 	

Excess of revenues over/(under)	
expenditures	

	(60,648)		(60,648)		15,365 		76,013 

Other Financing Sources/(Uses)	
Transfers in	

	10,098 		10,098 		12,206 		2,108 

Net change in fund balances	(50,550)	(50,550)	27,571	78,121

Fund Balances - October 1, 2022		91,638 		91,638 		387,934 		296,296 

Fund Balances - September 30, 2023

 $	41,088 

 $	41,088 

 $	415,505 

 $	374,417 

   

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements of the District have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The District's more significant accounting policies are described below.
Reporting Entity
The District was established on August 1, 2005, pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes the City of Jacksonville Ordinance 2005-580-E. The District was established for the purposes of financing and managing the acquisition, construction, maintenance and operation of the infrastructure necessary for community development within its jurisdiction. The District is authorized to issue bonds for the purpose, among others, of financing, funding, planning, establishing, acquiring, constructing or re-constructing, enlarging or extending, equipping, operating and maintaining water management, bridges or culverts, district roads, landscaping, street lights and other basic infrastructure projects within or without the boundaries of the Wynnfield Lakes Community Development District . The District is governed by a five-member Board of Supervisors who were elected by the qualified electors of the District. The District operates within the criteria established by Chapter 190, Florida Statutes.
As required by GAAP, these financial statements present the Wynnfield Lakes Community Development District (the primary government) as a stand-alone government. The reporting entity for the District includes all functions of government in which the District’s Board exercises oversight responsibility including, but not limited to, financial interdependency, selection of governing authority, designation of management, significant ability to influence operations and accountability for fiscal matters.
Based upon the application of the above-mentioned criteria as set forth in Governmental Accounting Standards, the District has identified no component units.
Measurement Focus and Basis of Accounting

The basic financial statements of the District are composed of the following:

Government-wide financial statements

Fund financial statements

Notes to financial statements

Government-wide Financial Statements

The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Government-wide financial statements report all non-fiduciary information about the reporting government as a whole. These statements include all the governmental activities of the primary government. The effect of interfund activity has been removed from these statements.
Governmental activities are supported by special assessments. Program revenues include charges for services and payments made by parties outside of the reporting government’s citizenry if that money is restricted to a particular program. Program revenues are netted with program expenses in the Statement of Activities to present the net cost of each program.

Amounts paid to acquire capital assets are capitalized as assets, rather than reported as an expenditure. Proceeds of long-term debt are recorded as liabilities in the government-wide financial statements, rather than as another financing source.
Amounts paid to reduce long-term indebtedness of the reporting government are reported as a reduction of the related liability, rather than as an expenditure.
Fund Financial Statements

The underlying accounting system of the District is organized and operated on the basis of separate funds, each of which is considered to be a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses, as appropriate. Governmental resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled.
Fund financial statements for the primary government’s governmental funds are presented after the government-wide financial statements. These statements display information about major funds individually.

b. Fund Financial Statements (Continued) Governmental Funds
When both restricted and unrestricted resources are combined in a fund, qualified expenses are considered to be paid first from restricted resources, and then from unrestricted resources. Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are considered to be available when they are collected within the current period or soon thereafter to pay liabilities of the current period. For this purpose, the District considers revenues to be available if they are collected within 60 days of the end of the current fiscal period.
Expenditures generally are recorded when a liability is incurred, as under accrual accounting. Interest associated with the current fiscal period is considered to be an accrual item and so has been recognized as revenue of the current fiscal period.

Under the current financial resources measurement focus, only current assets and current liabilities are generally included on the balance sheet. The reported fund balance is considered to be a measure of “available spendable resources”. Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources and uses of “available spendable resources” during a period.
Because of their spending measurement focus, expenditure recognition for governmental fund types excludes amounts represented by non-current liabilities. Since they do not affect net current assets, such long-term amounts are not recognized as governmental fund type expenditures or fund liabilities.
Amounts expended to acquire capital assets are recorded as expenditures in the year that resources are expended, rather than as fund assets. The proceeds of long-term debt are recorded as another financing source rather than as a fund liability. Debt service expenditures are recorded only when payment is due.
The District implemented the Governmental Accounting Standards Board Statement 54 – Fund Balance Reporting and Governmental Fund Type Definitions. The Statement requires the fund balance for governmental funds to be reported in classifications that comprise a hierarchy based primarily on the extent to which the government is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. The classifications include non-spendable, restricted, committed, assigned and unassigned.

Measurement Focus and Basis of Accounting (Continued)
b. Fund Financial Statements (Continued) Governmental Funds (Continued)
The District has various policies governing the fund balance classifications.
Nonspendable Fund Balance – This classification consists of amounts that cannot be spent because they are either not in spendable form or are legally or contractually required to be maintained intact.
Restricted Fund Balance – This classification includes amounts that can be spent only for specific purposes stipulated by constitution, external resource providers, or through enabling legislation.
Assigned Fund Balance – This classification consists of the Board of Supervisors’ intent to be used for specific purposes, but are neither restricted nor committed. The assigned fund balances can also be assigned by the District’s management company.
Unassigned Fund Balance – This classification is the residual classification for the government’s general fund and includes all spendable amounts not contained in the other classifications. Unassigned fund balance is considered to be utilized first when an expenditure is incurred for purposes for which amounts in any of those unrestricted fund balance classifications could be used.
Fund Balance Spending Hierarchy – For all governmental funds except special revenue funds, when restricted, committed, assigned, and unassigned fund balances are combined in a fund, qualified expenditures are paid first from restricted or committed fund balance, as appropriate, then assigned and finally unassigned fund balances.
Basis of Presentation
Governmental Major Funds
General Fund – The General Fund is the District’s primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund.

Debt Service Fund  – Accounts for debt service requirements to retire the outstanding bonds of the District
Non-current Governmental Assets/Liabilities
GASB Statement 34 requires that non-current governmental assets, such as land and buildings, and non-current governmental liabilities, such as general obligation bonds, be reported in the governmental activities column in the government-wide Statement of Net Position.

Basis of Presentation (Continued)

b. Non-current Governmental Assets/Liabilities (Continued)

GASB Statement 34 requires that non-current governmental assets, such as land and buildings, and non-current governmental liabilities, such as general obligation bonds, be reported in the governmental activities column in the government-wide Statement of Net Position.

Assets, Deferred Outflows of Resources, Liabilities, and Net Position or Equity

Cash and Investments

Chapter 280, Florida Statutes require state and local governmental units to deposit monies with financial institutions classified as "Qualified Public Depositories," a multiple financial institution pool whereby groups of securities pledged by the various financial institutions provide common collateral from their deposits of public funds. This pool is provided as additional insurance to the federal depository insurance and allows for additional assessments against the member institutions, providing full insurance for public deposits.
The District is authorized to invest in those financial instruments as established by Section 218.415, Florida Statutes. The authorized investments consist of:
Direct obligations of the United States Treasury;
The Local Government Surplus Funds Trust or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperative Act of 1969;
Interest-bearing time deposits or savings accounts in authorized qualified public depositories;
Securities and Exchange Commission, registered money market funds with the highest credit quality rating from a nationally recognized rating agency.
Restricted Assets

Certain net position of the District will be classified as restricted on the statement of net position because their use is limited either by law through constitutional provisions or enabling legislation; or by restrictions imposed externally by creditors. In a fund with both restricted and unrestricted net position, qualified expenses are considered to be paid first from restricted net position and then from unrestricted net position.

4. Assets, Liabilities, Deferred Outflows of Resources, and Net Position or Equity (Continued)

Capital Assets
Capital assets, which include land, buildings, improvements other than buildings, infrastructure, and equipment are reported in governmental activities.

The District defines capital assets as assets with an initial, individual cost of $5,000 or more and an estimated useful life in excess of two years. The valuation basis for all assets is historical cost.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend its useful life are not capitalized.

Depreciation of capital assets is computed and recorded by utilizing the straight-line method. Estimated useful lives of the various classes of depreciable capital assets are as follows:
Infrastructure	15-25 years
Buildings	20 years
Improvements other than buildings	15-20 years Machinery and equipment	10-20 years
Deferred Outflows of Resources

Deferred outflows of resources represent a consumption of net position/fund balance that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then. The District only has one item that qualifies for reporting in this category. It is the deferred amount on refunding reported on the Statement of Net Position. A deferred amount on refunding results from the difference in the carrying value of refunded debt and its reacquisition price. This amount is deferred and amortized over the shorter of the life of the refunded or refunding debt.
Net Position

Net position represents the difference between assets and liabilities and is reported in three categories. Net investment in capital assets, represent capital assets, net of accumulated depreciation and any outstanding debt related to those assets. Net position is reported as restricted when there are legal limitations imposed on their use by legislation, or external restrictions imposed by other governments, creditors, or grantors. Unrestricted net position is assets that do not meet definitions of the classifications previously described.

4. Assets, Liabilities, Deferred Outflows of Resources, and Net Position or Equity (Continued)

Unamortized Bond Discount
Bond discounts are presented on the government-wide financial statements. The costs are amortized over the life of the bonds using the straight-line method. For financial reporting, the unamortized bond discount is netted against the applicable long-term debt.

Budgets

Budgets are prepared and adopted after public hearings for the governmental funds, pursuant to Chapter 190, Florida Statutes. The District utilizes the same basis of accounting for budgets as it does for revenues and expenditures in its various funds. The legal level of budgetary control is at the fund level. All budgeted appropriations lapse at year-end. Formal budgets are adopted for the general and debt service funds. As a result, deficits in the budget columns of the accompanying financial statements may occur.
NOTE	B	–		RECONCILIATION	OF	GOVERNMENT-WIDE	AND	FUND	FINANCIAL STATEMENTS
Explanation of Differences Between the Governmental Fund Balance Sheet and the Government-wide Statement of Net Position

“Total fund balances” of the District’s governmental funds, $810,742, differs from “net position” of governmental activities, $(2,585,164), reported in the Statement of Net Position. This difference primarily results from the long-term economic focus of the Statement of Net Position versus the current financial resources focus of the governmental fund balance sheet. The effect of the differences is illustrated below.

Capital related items

When capital assets that are to be used in governmental activities are purchased or constructed, the cost of those assets is reported as expenditures in governmental funds. However, the Statement of Net Position included those capital assets among the assets of the District as a whole.

Land	$	400,000	
Improvements other than buildings	68,597	
Infrastructure	1,615,771	
Building	2,424,677	
Equipment	121,805	
Accumulated depreciation	  (3,083,948)	
Total	$ 1,546,902 	

NOTE	B	–		RECONCILIATION	OF	GOVERNMENT-WIDE	AND	FUND	FINANCIAL STATEMENTS (CONTINUED)
Explanation of Differences Between the Governmental Fund Balance Sheet and the Government-wide Statement of Net Position (Continued)

Long-term debt transactions

Long-term liabilities applicable to the District’s governmental activities are not due and payable in the current period and accordingly are not reported as fund liabilities. All liabilities (both current and long-term) are reported in the Statement of Net Position. Balances at September 30, 2023 were:

Bonds payable	$	(5,075,000)	
Bond discount		35,390 	
Net bonds payable	$	(5,039,610)	

Deferred outflows of resources
Deferred outflows of resources applicable to the District’s governmental activities are not financial resources, and therefore, are not recognized at the governmental fund level.

Deferred amount on refunding, net	$	187,719 
Accrued interest
Accrued liabilities in the Statement of Net Position differ from the accrued interest on bonds, which are not reported at the fund level because they do not use current resources.
Accrued interest	$	(90,917)

Explanation of Differences Between the Governmental Fund Operating Statements and the Statement of Activities
The “net change in fund balances” for government funds, $39,217, differs from the “change in net position” for governmental activities, $177,805, reported in the Statement of Activities. The differences arise primarily from the long-term economic focus of the Statement of Activities versus the current financial resources focus of the governmental funds. The effect of the differences is illustrated below.

NOTE	B	–		RECONCILIATION	OF	GOVERNMENT-WIDE	AND	FUND	FINANCIAL STATEMENTS (CONTINUED)
Explanation of Differences Between the Governmental Fund Operating Statements and the Statement of Activities (Continued)

Capital related items

When capital assets that are to be used in governmental activities are purchased or constructed, the resources expended for those assets are reported as expenditures in governmental funds. However, in the Statement of Activities, the costs of those assets is allocated over their estimated useful lives and reported as depreciation. As a result, fund balances decrease by the amount of financial resources expended, whereas net position decreases by the amount that depreciation exceeds capital outlay.

Depreciation	$	(191,482)	
Loss on equipment disposal	(1,379)	
Capital outlay		54,950	
Total	$	(137,911)	

Long-term debt transactions
Repayment of long-term liabilities are reported as expenditures in the governmental fund statement but such repayments reduce liabilities in the Statement of Net Position and are eliminated in the Statement of Activities.

Debt principal payments	$	290,000 

Some expenses reported in the Statement of Activities do not require the use of current financial resources, therefore, are not reported as expenditures in governmental funds.

Net change in accrued interest payable	$	4,229	
Decrease in bond discount	(2,812)	
Decrease in deferred amount on refunding		(14,918)	
Total	$	(13,501)	

NOTE C – CASH AND INVESTMENTS

All deposits are held in qualified public depositories and are included on the accompanying balance sheet as cash and investments.
Custodial Credit Risk – Deposits
Custodial credit risk is the risk that in the event of a bank failure, the District's deposits may not be returned to it. The District does not have a formal deposit policy for custodial credit risk; however, they follow the provisions of Chapter 280, Florida Statutes regarding deposits and investments. As of September 30, 2023, the District's bank balance was $20,958 and the carrying value was $15,933. Exposure to custodial credit risk was as follows. The District maintains all deposits in a qualified public depository in accordance with the provisions of Chapter 280, Florida Statutes, which means that all deposits are fully insured by Federal Depositors Insurance or collateralized under Chapter 280, Florida Statutes.

Investments
As of September 30, 2023, the District had the following investments and maturities:

Investment	Maturities	Fair Value

Managed Money Market Account	N/A	$	342,176
Fidelity Government Portfolio	29 Days*	395,237
Florida PRIME	35 Days* 	79,826 
Total	 $	817,239 

*Weighted Average Maturity

The District categorizes its fair value measurements within the fair value hierarchy recently established by generally accepted accounting principles. The fair value is the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. The District uses a market approach in measuring fair value that uses prices and other relevant information generated by market transactions involving identical or similar assets, liabilities, or groups of assets and liabilities.
Assets or liabilities are classified into one of three levels. Level 1 is the most reliable and is based on quoted price for identical assets, or liabilities, in an active market. Level 2 uses significant other observable inputs when obtaining quoted prices for identical or similar assets, or liabilities, in markets that are not active. Level 3 is the least reliable and uses significant unobservable inputs that use the best information available under the circumstances, which includes the District’s own data in measuring unobservable inputs.

Based on the criteria in the preceding paragraph, the Fidelity Government Portfolio and the Managed Money Market Account are Level 1 assets.

NOTE C – CASH AND INVESTMENTS (CONTINUED)

The District’s investment policy allows management to invest funds in investments permitted under Section 218.415, Florida Statutes. The investment in Florida PRIME is measured at amortized cost. Florida PRIME has established policies and guidelines regarding participant transactions and the authority to limit or restrict withdrawals or impose a penalty for an early withdrawal. As of September 30, 2023, there were no redemption fees, maximum transaction amounts, or any other requirements that would limit daily access to 100 percent of the account value.
Interest Rate Risk

The formal investment policy of the District conforms with State statutory requirements and bond indentures for investment maturities as a means of managing its exposure to increasing interest rates. Direct obligations of the United States Treasury are held in a money market fund that allows daily demand withdrawals at par in the event of a decrease in interest rates.

Credit Risk

The District's investments are limited by state statutory requirements and bond compliance. The District has no investment policy that would further limit its investment choices. The Florida PRIME Fund is an authorized investment under Section 218.415, Florida Statutes. As of September 30, 2023, the District's investment in Florida PRIME and Fidelity Government Portfolio were rated AAAm by Standard & Poor's. The Managed Money Market Account was not rated.

Concentration of Credit Risk

The District places no limit on the amount it may invest in any one issuer. The investment in Florida PRIME represents 10% of the District’s total investments. The investment in the Managed Money Market Account is 42% of the District’s total investments and the investment in the Fidelity Government Porfolio is 48% of the District’s total investments.
The types of deposits and investments and their level of risk exposure as of September 30, 2023 were typical of these items during the fiscal year then ended. The District considers any decline in fair value to be temporary.

NOTE D – SPECIAL ASSESSMENT REVENUES
Assessments are non-ad valorem assessments on benefitted property within the District. Operating and Maintenance Assessments are based upon adopted budget and levied annually. Debt Service Assessments are levied when bonds are issued and collected annually. The District may collect assessments directly or utilize the uniform method of collection (Chapter 197.3632, 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 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 all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. All other revenue items are considered to be measurable and available only when cash is received by the government.
NOTE E – CAPITAL ASSETS

Capital Asset activity for the year ended September 30, 2023 was as follows:

Balance	Balance
October 1,	September 30,
	2022	  Additions	  Deletions	 	2023	
Governmental Activities:		
Capital assets, not being depreciated		
Land	 $	400,000 	 $	- 	 $	- 	 $	400,000 	
Capital Assets, Being Depreciated:					
Improvements other than buildings	68,597	-	-	68,597	
Buildings	2,424,677	-	-	2,424,677	
Infrastructure	1,615,771	-	-	1,615,771	
Equipment		70,301 		54,950 		(3,446)		121,805 	
Total Capital Assets, Being Depreciated		4,179,346 		54,950 		(3,446)		4,230,850 	
Less accumulated depreciation for:					
Improvements other than buildings	(10,670)	(4,573)	-	(15,243)	
Buildings	(1,812,144)	(121,234)	-	(1,933,378)	
Infrastructure	(1,039,381)	(57,639)	-	(1,097,020)	
Equipment		(32,338)		(8,036)		2,067 		(38,307)	
Total Accumulated Depreciation		(2,894,533)		(191,482)		2,067 		(3,083,948)	
Total Capital Assets Depreciated, Net		1,284,813 		(136,532)		(1,379)		1,146,902 	
Governmental Activities Capital Assets	 $  1,684,813 	 $ (136,532)	 $	(1,379)	 $  1,546,902 	

Depreciation of $191,482 was allocated to the physical environment, $58,630 and culture/recreation, $132,852.

NOTE F – LONG-TERM DEBT		
The following is a summary of activity for long-term debt of ended September 30, 2023:	Governmental Activities for the year	
Long-term debt at October 1, 2022	$	5,365,000	
Principal payments		(290,000)	
Long-term debt at September 30, 2023	$	5,075,000	
Less: bond discount, net		(35,390)	
Bonds Payable, Net at September 30, 2023	$	5,039,610 	
District debt is comprised of the following at September 30, 2023:
Special Assessment Revenue Refunding Bonds

$7,490,000 Series 2014 Special Assessment Refunding Bonds are due in annual principal installments beginning May 2015 maturing May 2036. Interest at various rates between 3.5% and 4.5% is due May and November beginning November 2014.
Current portion is $300,000.		
Bond payable	$	5,075,000	
Less: bond discount, net		(35,390)	
Bonds Payable, Net at September 30, 2023	$	5,039,610	

The annual requirements to amortize the principal and interest of bonded debt outstanding as of September 30, 2023 are as follows:

Year Ending
  September 30, 	
	Principal		
	Interest		
	Total		
2024	$	300,000	$	218,200	$	518,200	
2025	310,000	207,325	517,325	
2026	325,000	195,700	520,700	
2027	340,000	182,700	522,700	
2028	350,000	168,250	518,250	
2029-2033	2,010,000	600,838	2,610,838	
2034-2036		1,440,000		131,400		1,571,400	
Totals	 $	5,075,000	 $	1,704,413	 $	6,779,413	

Significant Bond Provisions
The Series 2014 Bonds are subject to redemption at the option of the District prior to their maturity, in whole or in part, at any time after May 1, 2024, at a redemption price equal to the principal amount of the Series 2014 Bonds to be redeemed, together with accrued interest to the date of redemption. The Series 2014 Bonds are subject to extraordinary mandatory redemption prior to maturity in the manner determined by the Bond Registrar if certain events occurred as outlined in the Trust Indenture.
The Trust Indenture established certain amounts be maintained in a reserve account. In addition, the Trust Indenture has certain 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.

Depository Funds
The bond resolution establishes certain funds and determines the order in which revenues are to be deposited into these funds. A description of the significant funds, including their purposes, is as follows:
Reserve Funds
The Series 2014 Reserve Accounts were funded from the proceeds of the Series 2014 Bonds in amounts equal to 50 percent of the maximum annual debt service on the outstanding Series 2014 Bonds. Monies held in the reserve accounts will be used only for the purposes established in the Trust Indenture.

The following is a schedule of required reserve balances as of September 30, 2023:

Reserve	Reserve
	Balance	  Requirement 

Special Assessment Refunding Bonds, Series 2014

$	257,738

$	257,738

NOTE G – INTERFUND TRANSFERS

Interfund transfers for the year ended September 30, 2023, consisted for the following:

Transfers Out
Transfers In	Debt Service fund
	
General Fund	 $	12,206 

Transfers from the Debt Service Fund into the General Fund were completed in accordance with the trust indenture.

NOTE H – 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 for which the District carries commercial insurance. There were no claims or settled claims from these risks that exceeded commercial insurance coverage in the last three years.

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

To the Board of Supervisors
Wynnfield Lakes Community Development District City of Jacksonville, 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, as listed in the table of contents, of Wynnfield Lakes Community Development District, as of and for the year ended September 30, 2023, and the related notes to the financial statements, which collectively comprise the basic financial statements and have issued our report thereon dated February 22, 2024.

Report on Internal Control Over Financial Reporting
In planning and performing our audit, we considered Wynnfield Lakes Community Development District's internal control over financial reporting (internal control) as a basis for designing 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 Wynnfield Lakes Community Development District’s internal control. Accordingly, we do not express an opinion on the effectiveness of Wynnfield Lakes Community Development 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 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 or significant deficiencies may exist that have not been identified.

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To the Board of Supervisors
Wynnfield Lakes Community Development District

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether Wynnfield Lakes Community Development District's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the 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.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida February 22, 2024

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MANAGEMENT LETTER

To the Board of Supervisors
Wynnfield Lakes Community Development District City of Jacksonville, Florida

Report on the Financial Statements
We have audited the financial statements of the Wynnfield Lakes Community Development District as of and for the year ended September 30, 2023, and have issued our report thereon dated February 22, 2024.
Auditor’s Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States; 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 Reports and Schedule
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 Financial Statements Performed in Accordance with Government Auditing Standards and our Independent Auditor’s Report on an examination conducted in accordance with AICPA Professionals Standards, AT-C Section 315 regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in that report, which is dated February 22, 2024, should be considered in conjunction with this management letter.
Prior Audit Findings
Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective actions have been made to address findings and recommendations made in the preceding financial audit report. The were no findings or recommendations in the preceding financial audit report.

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To the Board of Supervisors
Wynnfield Lakes Community Development District

Financial Condition
Section 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, requires us to apply appropriate procedures and communicate the results of our determination as to whether or not Wynnfield Lakes Community Development District has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific conditions met. In connection with our audit, we determined that the Wynnfield Lakes Community Development District has not met one of the conditions described in Section 218.503(1), Florida Statutes.
Pursuant to Sections 10.554(1)(i)5.b. and 10.556(8), Rules of the Auditor General, we applied financial conditions assessment procedures as of September 30, 2023 for the Wynnfield Lakes Community Development District. It is management’s responsibility to monitor the Wynnfield Lakes Community Development District’s financial condition; our financial condition assessment was based in part on the representations made by management and the review of the financial information provided by the same.
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations.
Specific Information

The information below was provided by management and has not been audited by us; therefore, we do not express an opinion or provide any assurance on the information.

As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor General, Wynnfield Lakes Community Development District reported:
The total number of District elected officials receiving statutory compensation, reported as employees for the purposes of the audit: 5
The total number of independent contractors, defined as individuals or entities that receive 1099s, to whom nonemployee compensation was paid in the last month of the District’s fiscal year:16
All compensation earned by or awarded to employees, whether paid or accrued, regardless of contingency: $6,800
All compensation earned by or awarded to nonemployee independent contractors, whether paid or accrued, regardless of contingency: $568,649
Each construction project with a total cost of at least $65,000 approved by the District that is scheduled to begin on or after October 1, 2022, together with the total expenditures for such project: N/A.
A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes, before the beginning of the fiscal year being reported if the District amends a final adopted budget under Section 189.016(6), Florida Statutes: The Board did not amend the budget.

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To the Board of Supervisors
Wynnfield Lakes Community Development District
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)8, Rules of the Auditor General, the Wynnfield Lakes Community Development District reported:
The rate or rates of non-ad valorem special assessments imposed by the District:
The amount of special assessments collected by or on behalf of the District was $847.07 – 1,264.26 for the General Fund and $1,084.32 – $1,518.48 for the Debt Service Fund.
Total special assessments collected was $1,116,026.
The total amount of outstanding bonds issued by the District and the terms of such bonds as: There were no new bonds issued by the District. The bonds outstanding is
$5,075,000 due on May 1, 2036 at various rates from 3.5% to 4.5%.
Additional Matters
Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we did not note any such findings.
Purpose of this Letter

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

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida February 22, 2024

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INDEPENDENT ACCOUNTANTS’ REPORT/COMPLIANCE WITH SECTION 218.415, FLORIDA STATUTES

To the Board of Supervisors
Wynnfield Lakes Community Development District City of Jacksonville, Florida

We have examined Wynnfield Lakes Community Development District's compliance with Section 218.415, Florida Statutes during the year ended September 30, 2023. Management is responsible for Wynnfield Lakes Community Development District’s compliance with those requirements. Our responsibility is to express an opinion on Wynnfield Lakes Community Development 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 and, accordingly, included examining, on a test basis, evidence about Wynnfield Lakes Community Development District’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on Wynnfield Lakes Community Development District’s compliance with the specified requirements.

In our opinion, Wynnfield Lakes Community Development District complied, in all material respects, with the aforementioned requirements during the year ended September 30, 2023.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida February 22, 2024

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