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Venetian Community Development District

Board of Supervisors’ Meeting

July 10, 2017

District Office: 9530 Marketplace Road, Suite 206

Fort Myers, Florida 33912 (239) 936-0913

www.venetiancdd.org

VENETIAN COMMUNITY DEVELOPMENT DISTRICT AGENDA

July 10, 2017 at 9:30 a.m.

To be held at the Venetian River Club, 502 Veneto Boulevard, North Venice, Florida 34275.

District Board of Supervisors Jerry Jasper Chair Harry Orenstein Vice Chair David Lusty Assistant Secretary Susie Lentile Assistant Secretary Richard Bracco Assistant Secretary District Manager Belinda Blandon Rizzetta & Company, Inc. District Counsel Andrew Cohen Persson & Cohen, P.A. District Engineer Rick Schappacher Schappacher Engineering, LLC

All Cellular phones and pagers must be turned off while in the meeting room.

The District Agenda is comprised of five different sections:

The meeting will begin promptly at 9:30 a.m. with the first section which is called Public Comment. The Public Comment portion of the agenda is where individuals may comment on matters for which the Board may be taking action or that may otherwise concern the District. Each individual is limited to three (3) minutes for such comment. The Board of Supervisors or Staff is not obligated to provide a response until sufficient time for research or action is warranted. IF THE COMMENT CONCERNS A MAINTENANCE RELATED ITEM, THE ITEM WILL NEED TO BE ADDRESSED BY THE DISTRICT MANAGER OUTSIDE THE CONTEXT OF THIS MEETING. The second section is called Business Items. The business items section contains items for approval by the District Board of Supervisors that may require discussion, motion and votes on an item-by-item basis. Occasionally, certain items for decision within this section are required by Florida Statute to be held as a Public Hearing. During the Public Hearing portion of the agenda item, each member of the public will be permitted to provide one comment on the issue, prior to the Board of Supervisors’ discussion, motion and vote. The third section is called Business Administration. The Business Administration section contains items that require the review and approval of the District Board of Supervisors as a normal course of business. The fourth section is called Staff Reports. This section allows the District Manager, Engineer, and Attorney to update the Board of Supervisors on any pending issues that are being researched for Board action. The final section is called Supervisor Requests and Comments. This is the section in which the Supervisors may request Staff to prepare certain items in an effort to meet residential needs. Agendas can be reviewed by contacting the Manager’s office at (239) 936-0913 at least seven days in advance of the scheduled meeting. Requests to place items on the agenda must be submitted in writing with an explanation to the District Manager at least fourteen (14) days prior to the date of the meeting. Public workshops sessions may be advertised and held in an effort to provide informational services. These sessions allow staff or consultants to discuss a policy or business matter in a more informal manner and allow for lengthy presentations prior to scheduling the item for approval. Typically no motions or votes are made during these sessions.

Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this meeting is asked to advise the District Office at (239) 936-0913, at least 48 hours before the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service at 711, who can aid you in contacting the District Office. Any person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that this same 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 the appeal is to be based.

VENETIAN COMMUNITY DEVELOPMENT DISTRICT

DISTRICT OFFICE • 9530 MARKETPLACE ROAD • SUITE 206 • FORT MYERS, FLORIDA 33912 www.venetiancdd.org

July 3, 2017 Board of Supervisors Venetian Community Development District

AGENDA Dear Board Members: The regular meeting of the Board of Supervisors of Venetian Community Development District will be held on Monday, July 10, 2017 at 9:30 a.m. at the Venetian River Club located at 502 Veneto Boulevard, North Venice, Florida 34275. The following is the agenda for this meeting:

1. CALL TO ORDER/ROLL CALL 2. PUBLIC COMMENT 3. DISTRICT ENGINEER STAFF REPORT 4. BUSINESS ITEMS

A. Consideration of Great Blue Images Proposal for Entry Clearance Signage ........................................................................ Tab 1

B. Consideration of Invision Communications Proposal for Replacement and Update of Rear Gate Entrance Operators ........ Tab 2 C. Consideration of Proposals for Refinishing of Spa...................... Tab 3 1. Mr. Marcite Inc. 2. Pearl Pool Plastering 3. Sparkling Kleen Pools & Spas D. Consideration of Proposals for Cleaning and Sealing of Pavers at the River Club .............................................................. Tab 4

1. Expert Services of Sarasota 2. Hunkari LLC

E. Consideration of Noller Design Proposals ................................... Tab 5 1. Design Service Schedule 2. Services Agreement

F. Acceptance of Arbitrage Rebate Calculations for Series 2012A-1 & A-2 Bonds as Prepared by LLS Tax Solutions ......... Tab 6

5. BUSINESS ADMINISTRATION A. Consideration of the Minutes of the Board of Supervisors’

Meeting held on June 12, 2017 .................................................... Tab 7 B. Consideration of the Minutes of the Facilities Committee

Meeting held on May 2, 2017 ...................................................... Tab 8 C. Consideration of the Minutes of the Pool & Fitness Committee Meeting held on May 15, 2017 .................................................... Tab 9 D. Consideration of the Minutes of the Social & Dining Committee Meeting held on May 10, 2017 .................................................... Tab 10 E. Review of May 2017 Financials .................................................. Tab 11 1. River Club 2. CDD

http://www.venetiancdd.org/

Venetian Community Development District July 3, 2017

Agenda - Page 2 6. STAFF REPORTS A. District Counsel B. River Club C. Field Manager D. District Manager 7. SUPERVISOR REQUESTS AND COMMENTS 8. ADJOURNMENT We look forward to seeing you at the meeting. In the meantime, if you have any questions, please do not hesitate to contact me at (239) 936-0913.

Very truly yours, Belinda Blandon Belinda Blandon District Manager cc: Andrew Cohen, Persson & Cohen, P.A.

of 1

Estimate #: 65236935 15th Street EastSuite 109Sarasota, FL 34243Ph: (941) 462-4440FAX: (941) -Email: [email protected]: http://www.greatblueimages.com

Great Blue Images

Email:

Salesperson: Donald Rollins

6/16/2017 10:29:39AMCreated Date: Venetian Community Development DistrictPrepared For:

Kareen Richard, Field ManagerContact:

Email:

Address:

[email protected]

[email protected]

(941) 465-6881

(941) 462-4440

Cell Phone:

Office Phone:

Office Phone: (941) 485-8500

102 Pesaro DriveNorth Venice, FL 34275

Entered by: Donald Rollins

Description: 9 ft lane restriction, sign, post, install

1Product:

Subtotal

$146.71

Unit Price

$146.71 1Wide Format Prints

Quantity

Description:

Wide Format Prints

Discount

$16.30 $163.01

Price

• 1- 18 in (H) x 12 in (W) Single Sided Print(s) made from Briteline IJ3205 3.1mil Gloss Clear/Clear 54" stock material

• Laminated with 3M 8914 2mil Cast Optically Clear Window Lam 54" on face

1Product:

Subtotal

$63.00

Unit Price

$63.00 2Installations - Non-Electric Signs

Quantity

Description:

Installation of Non-Electric Signs

Discount

$7.00 $70.00

Price

• 1 hr of Install Time.

• Using a Crew of 1 Personnel.

$233.01 Estimate Total:

Discounts: $23.30

$209.71 Subtotal:

Total: $209.71

Payment Terms: Balance due upon receipt.

Client Reply Request

Estimate Accepted "As Is". Please proceed with Order.

Changes required, please contact me.

Other:

/ /SIGN: Date:

Print Date: 6/16/2017 10:29:59AM

SYSTEM\Estimate_Estimate01

Envision Excellence

VEHICLESOVER9 FT

HEIGHTRIGHT LANE

ONLY

NOTICE

Q U O T E

4654 SR64 E Suite 136Bradenton, Fl 34208941.460.5737

Number AAAQ1231

Date May 3, 2017

Sold To Ship To Your Sales Rep

Venetian Community CDD Venetian Community CDD Paul Savage

Kareen Richard Kareen Richard 941.460.5737n Community Development DistrictKareen Richard102 Pesaro DriveNorth Venice, FL 34275United States of America

n Community Development DistrictKareen Richard102 Pesaro DriveNorth Venice, FL 34275United States of America

[email protected]

Phone PhoneFax Fax

Terms P.O. Number Ship Via

Qty Description Unit Price Ext. Price

$8,786.67 $8,786.67Replace and update rear gate entrance with New LIftmaster Gate operators. TheCSW24ul is the gate operator of choice of 90% of our customers for performanceand esthetics.Price includes all materials and install.

(2) Lifmaster CSW24UL

Setup and repair of cement bases

Removal of old operators

New gate harware for operator

Install and setup

$8,786.67SubTotal

Tax $0.00

$0.00Shipping

Total $8,786.67

50% Deposit required on all orders over $1500.00

Acceptance_______________________________ Date_________________________

PRICES SUBJECT TO CHANGE - PRICES BASED UPON TOTAL PURCHASE - ALL DELIVERY, TRAINING OR CONSULTING SERVICES TO BE BILLED AT PUBLISHED RATES FOR EACHACTIVITY INVOLVED - GENERALLY ALL HARDWARE COMPUTER COMPONENTS PROPOSED ABOVE ARE COVERED BY A LIMITED ONE YEAR WARRANTY, COVERING PARTS AND LABOURFOR HARDWARE ONLY AND ON A DEPOT BASIS - WE SPECIFICALLY DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY IMPLIEDWARRANTIES OR WITH REGARD TO ANY LICENSED PRODUCTS. WE SHALL NOT BE LIABLE FOR ANY LOSS OF PROFITS, BUSINESS, GOODWILL, DATA, INTERRUPTION OF BUSINESS,

Page 1 of 1Created on 05/03/17 16:17:38 by QuoteWerks

Venetian River Club North Venice, Florida

Design Services Schedule

June 13, 2017 The execution of this Design Services Schedule, pursuant to the terms of the attached Services Agreement, constitutes the client’s acceptance of fees and payment provisions here in outlined below. SCOPE OF WORK:

Interior design services to be performed for the following: The Dining Room and Bar are the priority but we will be reviewing a general refresh of the entire club.

DESIGN SERVICES TO BE PROVIDED:

• Color selections for all interior areas

• Specifications for flooring, wall finishes, furnishings, decorative and specialty lighting, window treatments, acoustic solutions, and artwork

• Artist rendering of interior: Quantity (1) of Dining Room; there will be a charge for

additional renderings requested by the club

• Floor plans of interior areas specified

• Presentation boards with color samples & interior furnishings’ swatches and samples for all areas specified above

• Itemized budget for items specified

• Control book for all items specified indicating each item’s control number, assigned

placement, dimensions, and finishes

• Does not include architectural or engineer drawings DESIGN FEE: Contract Terms $15,000.00 Retainer due prior to initial design work $ 7,500.00 Final payment due at completion of design presentation $ 7,500.00

Accepted: _________________________ Accepted:____________________________ Noller Design Group, Inc. Venetian River Club

Venetian River Club North Venice, Florida

SERVICES AGREEMENT June 13, 2017

The following serves as Noller Design Group, Inc. of Bonita Springs, Florida’s Services Agreement which details the professional services to be performed by Noller Design Group, Inc. on behalf of the Venetian River Club, herein referred to as “Client”. DESIGN

Noller Design Group, Inc. will extend the following services in conjunction with the design phase of the project: • Review architectural drawings and provide recommendations for any adjustments to layouts

of interior space allocations and lighting. • Consult with architect and engineers. Noller Design Group, Inc. shall make visits to the

offices of the contractors and subcontractors concurrent with the progress of the work. • Submit preliminary plans, layouts, and design selections for review and approval. Noller

Design Group, Inc. will assist the Client in selection of individual items specified by Noller Design Group, Inc. if a particular item is not available. However, any substantial re-selection of Furniture, Fixtures, and Equipment items shall be considered additional services, and additional fees shall be agreed upon by the Client and Noller Design Group, Inc. prior to the re-selection process.

• Select and submit samples of flooring, wall covering, ceiling treatments, and light fixtures. • Develop and submit a budget for interior furnishings. • Develop and submit a budget for exterior furnishings (where applicable) • If second conceptual design is not accepted, design services become billable at a rate of

$200 per hour. • Provide professional color renderings only for those areas stated on Design Services

Schedule. Additional renderings shall be considered a reimbursable expense, being over and above the fees stated in the Design Services Schedule.

RELATIONSHIP WITH ARCHITECTURAL GROUP

Noller Design Group, Inc. will furnish the architect(s) and engineer(s) with sufficient information concerning the various requirements of interior design, including profiles and specifications of types of architectural finishes and materials, to enable those parties to incorporate this information into their respective construction drawings and specifications.

The information provided under this relationship is intended for integration into the architects’ and engineers’ working drawings for review and similar use by other consultants and is not intended as final documentation for construction. NDG initials__________ Page 1 of 3 Client Initials_________

Noller Design Group, Inc. Services Agreement Continued PURCHASING Noller Design Group, Inc. will extend purchasing services and provide supervision of the installation of interior furnishings under the following terms: Purchasing services shall include reviewing the specification document, issuing purchase orders to the specified vendor(s) or dealer(s), following order progress, establishing delivery schedules, receiving, and delivering to the job site. • Monitor of interior construction and installation of interior furnishings shall be provided for a fee

detailed in the Design Services Schedule.

• Prices quoted on Contract will be current for a period of 30 days from date of this Agreement. However, manufacturers reserve the right to increase prices without notice. If manufacturer’s acknowledgment reflects a price increase, Noller Design Group, Inc. reserves the right to submit revised prices.

• In the event the manufacturer agrees by letter to the return of any merchandise for which it is

not in default, the Client will bear all expenses and charges in connection with the delivery and the return of such merchandise.

• Noller Design Group, Inc. shall not be liable for the loss or damage of any kind resulting from

delay in delivery due to trucking strikes, labor disputes, acts of God, or any other causes beyond the control of Noller Design Group, Inc. Noller Design Group, Inc. shall, under no circumstances, be liable for special, incidental, or consequential damages arising out of defective materials, workmanship, assemblage, and/or design or otherwise arising out of or relating to this Agreement.

• Title to all merchandise covered by this Agreement shall remain with Noller Design Group, Inc. until 100% of contracted purchases have been paid by the Client.

• Noller Design Group and the Client shall inspect items immediately upon their arrival to the job

site and Client shall give written notice within five days of any non-conformity to the furniture specification documents. Otherwise, the goods shall be considered accepted as conforming to the specifications.

• Unless otherwise expressly stated, fabric suppliers do not guarantee wear ability, dimensional

stability, or color fastness of fabrics. Such guarantees are neither expressed nor implied by Noller Design Group, Inc.

• Noller Design Group, Inc. is not a manufacturer and does not provide any oral or written warranties of any nature, including, without limitation, any warranties of merchantability, fitness, quality, workmanship, design, assemblage or capacity of or with respect to any goods described in this Agreement. The Client is relying solely and exclusively upon the warranties, if any, as may be made by or obtained from the manufacturer. Noller Design Group, Inc. shall be compensated for all time required and any costs incurred to enforce such warranties if requested by the Client. NDG initials__________ Page 2 of 3 Client Initials__________

Noller Design Group, Inc. Services Agreement Continued • The shipping date is the best estimate by Noller Design Group, Inc. of the actual shipping date

based on experience and/or information provided by the manufacturer. Noller Design Group, Inc. will use reasonable efforts to cause the manufacturer to ship by the said date, but having done so, Noller Design Group, Inc. will not be liable for the failure of the manufacturer to ship any of the merchandise by the said date.

INSTALLATION SERVICES/TURNKEY SERVICES Noller Design Group, Inc. will provide a Contract for interior furnishings, fixtures, surfaces and installation of interior elements of areas specified on Design Services Schedule. CANCELLATION Once executed, this Services Agreement can be canceled by the Client or Noller Design Group, Inc., upon terms that will fully indemnify Noller Design Group, Inc., against any loss. Noller Design Group, Inc. shall be compensated for all design work prepared and submitted, any restocking fees, and reimbursed at an hourly rate for time required to prepare and cancel any purchase orders GENERAL Agreement: Noller Design Group, Inc. shall be entitled to a reimbursement by the Client of reasonable Attorneys’ fees in the event Noller Design Group, Inc. is required to initiate legal proceedings to enforce the terms of the Services Agreement. Noller Design Group, Inc. Venetian River Club Accepted by: Signature: __________________ Date: _______ Signature: __________________ Date: _______ Jack Noller, President

________________________________ Title

Page 3 of 3

Specializing In Tax - Exempt Bond Services

LLS Tax Solutions 2172 W. Nine Mile Rd. #352 Pensacola, FL 32534 Telephone: 850-754-0311 Email: [email protected]

June 15, 2017

Ms. Shandra Torres Venetian Community Development District c\o Rizzetta & Co., Inc. 12750 Citrus Park Lane Suite 115 Tampa, Florida 33625

$6,355,000 Venetian Community Development District (City of Venice, Florida) Capital Improvement Revenue and Refunding Bonds,

Series 2012 A-1 and $12,910,000 Capital Improvement Revenue and Refunding Bonds 2012 A-2

Dear Ms. Torres:

Attached you will find our arbitrage rebate report for the above-referenced issue for the annual period ended May 28, 2017 (Computation Period”). This report indicates that there is no cumulative rebate liability as of May 28, 2017.

The next annual arbitrage rebate report date is May 28, 2018. If you have any questions or comments, please do not hesitate to contact me at (850) 754-0311 or by email at [email protected].

Sincerely,

Linda L. Scott Linda L. Scott, CPA cc: Ms. Mary Janice Entsminger, US Bank, Orlando, FL.

Venetian Community Development District $6,355,000 Venetian Community Development District (City of Venice, Florida) Capital Improvement Revenue and Refunding Bonds, Series 2012 A-1 and $12,910,000 Capital Improvement Revenue and Refunding bonds, Series 2012 A-2 For the period ended May 28, 2017

Specializing In Tax - Exempt Bond Services

LLS Tax Solutions 2172 W. Nine Mile Rd. #352 Pensacola, FL 32534 Telephone: 850-754-0311 Email: [email protected]

June 15, 2017

Venetian Community Development District c/o Rizzetta & Co., Inc. 12750 Citrus Park Lane Suite 115 Tampa, Florida 33625 Re: Venetian Community Development District (City of Venice, Florida) $6,355,000 Capital Improvement Revenue and Refunding Bonds, Series 2012 A-1 and $12,910,000 Capital Improvement Revenue and Refunding Bonds, Series 2012 A-2 (“Bonds”)

Venetian Community Development District (“Client”) has requested that we prepare certain computations related to the above-described Bonds for the period ended May 28, 2017 (“Computation Period”). The scope of our engagement consisted of the preparation of computations to determine the Rebate Amount for the Bonds for the Computation Period as described in Section 148(f) of the Internal Revenue Code of 1986, as amended (“Code”), and this report is not to be used for any other purpose.

In order to prepare these computations, we were provided by the Client with and have relied upon certain closing documents for the Bonds and investment earnings information on the proceeds of the Bonds during the Computation Period. The attached schedule is based upon the aforementioned information provided to us. The assumptions and computational methods we used in the preparation of the schedule are described in the Summary of Notes, Assumptions, Definitions and Source Information. A brief description of the schedule is also attached.

The results of our computations indicate a negative Cumulative Rebate Amount of $(324,987.61) at May 28, 2017. As such, no amount must be on deposit in the Rebate Fund nor remitted to the United States Government.

As specified in the Federal Tax Certificate, the calculations have been performed based upon a Bond Yield of 5.739407%. Accordingly, we have not recomputed the Bond Yield.

The scope of our engagement was limited to the preparation of a mathematically accurate Rebate Amount for the Bonds for the Computation Period based on the information provided to us. The Rebate Amount has been determined as described in the Code, and regulations promulgated thereunder (“Regulations”). We have no obligation to update this report because of events occurring, or information coming to our attention, subsequent to the date of this report.

LLS Tax Solutions Inc.

SUMMARY OF NOTES, ASSUMPTIONS, DEFINITIONS, SOURCE INFORMATION, AND DESCRPTION OF SCHEDULE

Venetian Community Development District June 15, 2017 Capital Improvement Revenue and Refunding Bonds, Series 2012 A-1 and 2012 A-2 For the period ended May 28, 2017

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NOTES AND ASSUMPTIONS

1. The issue date of the Bonds is May 29, 2012.

2. The end of the first Bond Year for the Bonds is May 28, 2013.

3. Computations of yield are based upon a 30-day month, a 360-day year and semiannual compounding.

4. We have assumed that the only funds and accounts relating to the Bonds that are subject to rebate under the Code are shown in the attached schedule.

5. For investment cash flow purposes, all payments and receipts are assumed to be paid or received, respectively, as shown in the attached schedule. In determining the Rebate Amount for the Bonds, we have relied on information provided by you without independent verification, and we can therefore express no opinion as to the completeness or suitability of such information for such purposes. In addition, we have undertaken no responsibility to review the tax exempt status of interest on the Bonds.

6. We have assumed that the purchase and sale prices of all investments as represented to us are at fair market value, exclusive of brokerage commissions, administrative expenses, or similar expenses, and representative of arms’ length transactions that did not artificially reduce the Rebate Amount for the Bonds, and that no “prohibited payments” occurred and no “imputed receipts” are required with respect to the Bonds.

7. Ninety percent (90%) of the Rebate Amount as of the next “computation date” (“Next Computation Date”) is due to the United States Treasury not later than 60 days thereafter (“Next Payment Date”). (An issuer may select any date as a computation date, as long as the first computation date is not later than five years after the issue date, and each subsequent computation date is no more than five years after the previous computation date.) No other payment of rebate is required prior to the Next Payment Date. The Rebate Amount as of the Next Computation Date will not be the Rebate Amount reflected herein, but will be based on future computations that will include the period ending on the Next Computation Date. If all of the Bonds are retired prior to what would have been the Next Computation Date, one hundred percent (100%) of the unpaid Rebate Amount computed as of the date of retirement will be due to the United States Treasury not later than 60 days thereafter.

8. For purposes of determining what constitutes an “issue” under section 148(f) of the Code, we have assumed that the Bonds constitute a single issue and are not required to be aggregated with any other bonds.



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NOTES AND ASSUMPTIONS (cont’d)

9. The accrual basis of accounting has been used to calculate earnings on investments. Earnings accrued but not received at the last day of the Computation Period are treated as though received on that day. For investments purchased at a premium or a discount (if any), amortization or accretion is included in the earnings accrued at the last day of the Computation Period. Such amortization or accretion is computed in such a manner as to result in a constant rate of return for such investment. This is equivalent to the “present value” method of valuation that is described in the Regulations.

10. No provision has been made in this report for any debt service fund. Under Section 148(f)(4)(A) of the Code, a “bona fide debt service fund” for public purpose bonds issued after November 10, 1988 is not subject to rebate if the average maturity of the issue of bonds is at least five years and the rates of interest on the bonds are fixed at the issue date. It appears and has been assumed that the debt service fund allocable to the Bonds qualifies as a bona fide debt service fund, and that this provision applies to the Bonds.



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DEFINITIONS

1. Bond Year: Each one-year period that ends on the day selected by the Client. The first and last Bond Years may be shorter periods.

2. Bond Yield: The yield that, when used in computing the present value (at the issue date of the Bonds) of all scheduled payments of principal and interest to be paid over the life of the Bonds, produces an amount equal to the Issue Price.

3. Allowable Earnings: The amount that would have been earned if all nonpurpose investments were invested at a rate equal to the Bond Yield, which amount is determined under a future value method described in the Regulations.

4. Computation Date Credit: A credit allowed by the Regulations as a reduction to the Rebate Amount on certain prescribed dates.

5. Rebate Amount: The excess of actual earnings over Allowable Earnings and Computation Date Credits.

6. Issue Price: Generally, the initial offering price at which a substantial portion of the Bonds is sold to the public. For this purpose, 10% is a substantial portion.



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SOURCE INFORMATION

Bonds Source

Closing Date Federal Tax Certificate

Bond Yield Federal Tax Certificate

Investments Source

Principal and Interest Receipt Amounts Trust Statements and Dates

Investment Dates and Purchase Prices Trust Statements



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DESCRIPTION OF SCHEDULE

SCHEDULE 1 - REBATE AMOUNT CALCULATION

Schedule 1 sets forth the amount of interest receipts and gains/losses on sales of investments and the calculation of the Rebate Amount.

$6,355,000 VENETIAN COMMUNITY DEVELOPMENT DISTRICT( CITY OF VENICE, FLORIDA )CAPITAL IMPROVEMENT REVENUE AND REFUNDING BONDS, SERIES 2012 A-1 AND $12,910,000 VENETIAN COMMUNITY DEVELOPMENT DISTRICT( CITY OF VENICE, FLORIDA )CAPITAL IMPROVEMENT REVENUE AND REFUNDING BONDS, SERIES 2012 A-2


5 / 29 / 2012 ISSUE DATE5 / 29 / 2012 BEGINNING OF COMPUTATION PERIOD5 / 28 / 2017 COMPUTATION DATE

INVESTMENT EARNINGS OTHER FUTURE VALUEVALUE AT ON DEPOSITS AT BOND YIELD ALLOWABLE

DATE FUND/ACCOUNT COMPUTATION DATE INVESTMENTS (WITHDRAWALS) 5.739407% EARNINGS5 / 29 / 2012 INITIAL DEPOSIT 0.00 5,515,000.00 7,317,321.44 1,802,321.445 / 31 / 2012 ACQUISITION ACCOUNT 0.00 (5,515,000.00) (7,315,021.49) (1,800,021.49)6 / 1 / 2012 ACQUISITION ACCOUNT 2.42 0.00 0.00 0.00

11 / 22 / 2013 ACQUISITION ACCOUNT 0.00 (2.42) (2.95) (0.53)0.00 2.42 (2.42) 2,297.00 2,299.42

5 / 29 / 2012 INITIAL DEPOSIT 0.00 125,000.00 165,850.44 40,850.445 / 31 / 2012 CAPITAL REPAIR ACCOUNT 0.00 (90,044.09) (119,433.26) (29,389.17)6 / 1 / 2012 CAPITAL REPAIR ACCOUNT 0.07 0.00 0.00 0.007 / 2 / 2012 CAPITAL REPAIR ACCOUNT 0.46 0.00 0.00 0.008 / 1 / 2012 CAPITAL REPAIR ACCOUNT 0.48 0.00 0.00 0.008 / 23 / 2012 CAPITAL REPAIR ACCOUNT 0.00 (4,950.00) (6,481.53) (1,531.53)8 / 23 / 2012 CAPITAL REPAIR ACCOUNT 0.00 (4,730.00) (6,193.46) (1,463.46)9 / 4 / 2012 CAPITAL REPAIR ACCOUNT 0.44 0.00 0.00 0.00

10 / 1 / 2012 CAPITAL REPAIR ACCOUNT 0.33 0.00 0.00 0.0011 / 1 / 2012 CAPITAL REPAIR ACCOUNT 0.34 0.00 0.00 0.0011 / 5 / 2012 CAPITAL REPAIR ACCOUNT 0.00 (6,600.00) (8,544.79) (1,944.79)12 / 3 / 2012 CAPITAL REPAIR ACCOUNT 0.26 0.00 0.00 0.00

1 / 2 / 2013 CAPITAL REPAIR ACCOUNT 0.25 0.00 0.00 0.001 / 22 / 2013 CAPITAL REPAIR ACCOUNT 0.00 (2,000.00) (2,558.18) (558.18)1 / 22 / 2013 CAPITAL REPAIR ACCOUNT 0.00 (12,360.00) (15,809.55) (3,449.55)2 / 1 / 2013 CAPITAL REPAIR ACCOUNT 0.19 0.00 0.00 0.003 / 1 / 2013 CAPITAL REPAIR ACCOUNT 0.05 0.00 0.00 0.004 / 1 / 2013 CAPITAL REPAIR ACCOUNT 0.06 0.00 0.00 0.004 / 24 / 2013 CAPITAL REPAIR ACCOUNT 0.00 (731.00) (921.59) (190.59)5 / 1 / 2013 CAPITAL REPAIR ACCOUNT 0.05 0.00 0.00 0.005 / 10 / 2013 CAPITAL REPAIR ACCOUNT 0.00 (3,587.89) (4,511.99) (924.10)

0.00 2.98 (2.98) 1,396.09 1,399.075 / 29 / 2012 INITIAL DEPOSIT 0.00 177,282.02 235,218.41 57,936.39





DATE FUND/ACCOUNT COMPUTATION DATE INVESTMENTS (WITHDRAWALS) 5.739407% EARNINGS5 / 29 / 2012 COST OF ISSUANCE ACCOUNT 0.00 70,535.33 93,586.52 23,051.195 / 29 / 2012 COST OF ISSUANCE ACCOUNT 0.00 0.00 0.00 0.005 / 29 / 2012 COST OF ISSUANCE ACCOUNT 0.00 (20,588.01) (27,316.25) (6,728.24)5 / 29 / 2012 COST OF ISSUANCE ACCOUNT 0.00 (40,813.24) (54,151.15) (13,337.91)5 / 29 / 2012 COST OF ISSUANCE ACCOUNT 0.00 (43,987.60) (58,362.91) (14,375.31)5 / 29 / 2012 COST OF ISSUANCE ACCOUNT 0.00 (54,417.65) (72,201.53) (17,783.88)5 / 29 / 2012 COST OF ISSUANCE ACCOUNT 0.00 (1,360.44) (1,805.04) (444.60)5 / 30 / 2012 COST OF ISSUANCE ACCOUNT 0.00 (17,717.48) (23,503.92) (5,786.44)5 / 30 / 2012 COST OF ISSUANCE ACCOUNT 0.00 (3,244.53) (4,304.18) (1,059.65)5 / 30 / 2012 COST OF ISSUANCE ACCOUNT 0.00 (47,071.27) (62,444.51) (15,373.24)5 / 31 / 2012 COST OF ISSUANCE ACCOUNT 0.00 (4,534.80) (6,014.90) (1,480.10)6 / 1 / 2012 COST OF ISSUANCE ACCOUNT 0.04 0.00 0.00 0.007 / 2 / 2012 COST OF ISSUANCE ACCOUNT 0.18 0.00 0.00 0.007 / 27 / 2012 COST OF ISSUANCE ACCOUNT 0.00 (5,342.00) (7,023.46) (1,681.46)8 / 1 / 2012 COST OF ISSUANCE ACCOUNT 0.18 0.00 0.00 0.009 / 4 / 2012 COST OF ISSUANCE ACCOUNT 0.12 0.00 0.00 0.009 / 5 / 2012 COST OF ISSUANCE ACCOUNT 0.00 (2,267.40) (2,963.34) (695.94)

10 / 1 / 2012 COST OF ISSUANCE ACCOUNT 0.09 0.00 0.00 0.0011 / 1 / 2012 COST OF ISSUANCE ACCOUNT 0.09 0.00 0.00 0.0012 / 3 / 2012 COST OF ISSUANCE ACCOUNT 0.08 0.00 0.00 0.00

1 / 2 / 2013 COST OF ISSUANCE ACCOUNT 0.09 0.00 0.00 0.002 / 1 / 2013 COST OF ISSUANCE ACCOUNT 0.09 0.00 0.00 0.002 / 27 / 2013 COST OF ISSUANCE ACCOUNT 0.00 (6,035.82) (7,678.01) (1,642.19)2 / 27 / 2013 COST OF ISSUANCE ACCOUNT 0.00 (438.04) (557.22) (119.18)

0.00 0.96 (0.96) 478.51 479.475 / 29 / 2012 INITIAL DEPOSIT 0.00 300,893.13 399,226.07 98,332.945 / 29 / 2012 RESERVE ACCOUNT 0.00 655,248.75 869,386.35 214,137.606 / 1 / 2012 RESERVE ACCOUNT 0.84 0.00 0.00 0.00





DATE FUND/ACCOUNT COMPUTATION DATE INVESTMENTS (WITHDRAWALS) 5.739407% EARNINGS7 / 2 / 2012 RESERVE ACCOUNT 12.59 0.00 0.00 0.008 / 1 / 2012 RESERVE ACCOUNT 13.01 0.00 0.00 0.009 / 4 / 2012 RESERVE ACCOUNT 13.01 0.00 0.00 0.009 / 6 / 2012 RESERVE ACCOUNT 0.00 (39.45) (51.55) (12.10)

10 / 1 / 2012 RESERVE ACCOUNT 12.59 0.00 0.00 0.0010 / 2 / 2012 RESERVE ACCOUNT 0.00 (12.59) (16.38) (3.79)11 / 1 / 2012 RESERVE ACCOUNT 13.01 0.00 0.00 0.0011 / 2 / 2012 RESERVE ACCOUNT 0.00 (13.01) (16.85) (3.84)12 / 3 / 2012 RESERVE ACCOUNT 12.59 0.00 0.00 0.0012 / 4 / 2012 RESERVE ACCOUNT 0.00 (12.59) (16.23) (3.64)

1 / 2 / 2013 RESERVE ACCOUNT 13.01 0.00 0.00 0.001 / 3 / 2013 RESERVE ACCOUNT 0.00 (13.01) (16.69) (3.68)2 / 1 / 2013 RESERVE ACCOUNT 13.01 0.00 0.00 0.002 / 4 / 2013 RESERVE ACCOUNT 0.00 (13.01) (16.61) (3.60)3 / 1 / 2013 RESERVE ACCOUNT 11.75 0.00 0.00 0.003 / 4 / 2013 RESERVE ACCOUNT 0.00 (11.75) (14.93) (3.18)4 / 1 / 2013 RESERVE ACCOUNT 13.01 0.00 0.00 0.004 / 2 / 2013 RESERVE ACCOUNT 0.00 (13.01) (16.46) (3.45)5 / 1 / 2013 RESERVE ACCOUNT 12.59 0.00 0.00 0.005 / 2 / 2013 RESERVE ACCOUNT 0.00 (12.59) (15.85) (3.26)6 / 3 / 2013 RESERVE ACCOUNT 13.01 0.00 0.00 0.006 / 4 / 2013 RESERVE ACCOUNT 0.00 (13.01) (16.30) (3.29)7 / 1 / 2013 RESERVE ACCOUNT 12.59 0.00 0.00 0.007 / 2 / 2013 RESERVE ACCOUNT 0.00 (12.59) (15.70) (3.11)8 / 1 / 2013 RESERVE ACCOUNT 13.01 0.00 0.00 0.008 / 2 / 2013 RESERVE ACCOUNT 0.00 (13.01) (16.15) (3.14)9 / 3 / 2013 RESERVE ACCOUNT 12.49 0.00 0.00 0.009 / 4 / 2013 RESERVE ACCOUNT 0.00 (12.49) (15.43) (2.94)





DATE FUND/ACCOUNT COMPUTATION DATE INVESTMENTS (WITHDRAWALS) 5.739407% EARNINGS10 / 1 / 2013 RESERVE ACCOUNT 4.73 0.00 0.00 0.0010 / 2 / 2013 RESERVE ACCOUNT 0.00 (4.73) (5.82) (1.09)11 / 1 / 2013 RESERVE ACCOUNT 4.89 0.00 0.00 0.0011 / 4 / 2013 RESERVE ACCOUNT 0.00 (4.89) (5.98) (1.09)12 / 2 / 2013 RESERVE ACCOUNT 4.73 0.00 0.00 0.0012 / 3 / 2013 RESERVE ACCOUNT 0.00 (4.73) (5.76) (1.03)


10 / 1 / 2014 RESERVE ACCOUNT 4.73 0.00 0.00 0.0010 / 2 / 2014 RESERVE ACCOUNT 0.00 (4.73) (5.50) (0.77)11 / 3 / 2014 RESERVE ACCOUNT 4.89 0.00 0.00 0.0011 / 4 / 2014 RESERVE ACCOUNT 0.00 (4.89) (5.65) (0.76)





DATE FUND/ACCOUNT COMPUTATION DATE INVESTMENTS (WITHDRAWALS) 5.739407% EARNINGS12 / 1 / 2014 RESERVE ACCOUNT 4.73 0.00 0.00 0.0012 / 2 / 2014 RESERVE ACCOUNT 0.00 (4.73) (5.45) (0.72)


10 / 1 / 2015 RESERVE ACCOUNT 4.73 0.00 0.00 0.0010 / 2 / 2015 RESERVE ACCOUNT 0.00 (4.73) (5.19) (0.46)11 / 2 / 2015 RESERVE ACCOUNT 4.89 0.00 0.00 0.0011 / 3 / 2015 RESERVE ACCOUNT 0.00 (4.89) (5.34) (0.45)12 / 1 / 2015 RESERVE ACCOUNT 4.73 0.00 0.00 0.0012 / 2 / 2015 RESERVE ACCOUNT 0.00 (4.73) (5.15) (0.42)

1 / 4 / 2016 RESERVE ACCOUNT 4.89 0.00 0.00 0.001 / 5 / 2016 RESERVE ACCOUNT 0.00 (4.89) (5.29) (0.40)





DATE FUND/ACCOUNT COMPUTATION DATE INVESTMENTS (WITHDRAWALS) 5.739407% EARNINGS2 / 1 / 2016 RESERVE ACCOUNT 4.89 0.00 0.00 0.002 / 2 / 2016 RESERVE ACCOUNT 0.00 (4.89) (5.27) (0.38)3 / 1 / 2016 RESERVE ACCOUNT 4.58 0.00 0.00 0.003 / 2 / 2016 RESERVE ACCOUNT 0.00 (4.58) (4.91) (0.33)4 / 1 / 2016 RESERVE ACCOUNT 4.89 0.00 0.00 0.004 / 4 / 2016 RESERVE ACCOUNT 0.00 (4.89) (5.22) (0.33)5 / 2 / 2016 RESERVE ACCOUNT 4.73 0.00 0.00 0.005 / 3 / 2016 RESERVE ACCOUNT 0.00 (4.73) (5.03) (0.30)6 / 1 / 2016 RESERVE ACCOUNT 4.89 0.00 0.00 0.006 / 2 / 2016 RESERVE ACCOUNT 0.00 (4.89) (5.17) (0.28)7 / 1 / 2016 RESERVE ACCOUNT 4.73 0.00 0.00 0.007 / 5 / 2016 RESERVE ACCOUNT 0.00 (4.73) (4.98) (0.25)8 / 1 / 2016 RESERVE ACCOUNT 4.89 0.00 0.00 0.008 / 2 / 2016 RESERVE ACCOUNT 0.00 (4.89) (5.12) (0.23)9 / 1 / 2016 RESERVE ACCOUNT 4.89 0.00 0.00 0.009 / 2 / 2016 RESERVE ACCOUNT 0.00 (4.89) (5.10) (0.21)

10 / 3 / 2016 RESERVE ACCOUNT 4.73 0.00 0.00 0.0010 / 4 / 2016 RESERVE ACCOUNT 0.00 (4.73) (4.91) (0.18)11 / 1 / 2016 RESERVE ACCOUNT 4.89 0.00 0.00 0.0011 / 2 / 2016 RESERVE ACCOUNT 0.00 (4.89) (5.05) (0.16)12 / 1 / 2016 RESERVE ACCOUNT 4.73 0.00 0.00 0.0012 / 2 / 2016 RESERVE ACCOUNT 0.00 (4.73) (4.86) (0.13)12 / 30 / 2016 RESERVE ACCOUNT 0.06 0.00 0.00 0.00

1 / 3 / 2017 RESERVE ACCOUNT 67.81 0.00 0.00 0.001 / 4 / 2017 RESERVE ACCOUNT 0.00 (67.81) (69.36) (1.55)2 / 1 / 2017 RESERVE ACCOUNT 144.75 0.00 0.00 0.002 / 2 / 2017 RESERVE ACCOUNT 0.00 (144.75) (147.41) (2.66)3 / 1 / 2017 RESERVE ACCOUNT 133.87 0.00 0.00 0.00





DATE FUND/ACCOUNT COMPUTATION DATE INVESTMENTS (WITHDRAWALS) 5.739407% EARNINGS3 / 2 / 2017 RESERVE ACCOUNT 0.00 (133.87) (135.69) (1.82)4 / 1 / 2017 RESERVE ACCOUNT 23.18 0.00 0.00 0.004 / 4 / 2017 RESERVE ACCOUNT 0.00 (23.18) (23.38) (0.20)5 / 1 / 2017 RESERVE ACCOUNT 0.09 0.00 0.00 0.005 / 2 / 2017 RESERVE ACCOUNT 0.00 (0.09) (0.09) 0.00

956,141.94 749.09 955,392.85 1,267,780.58 312,387.73956,141.94 755.45 955,386.49 1,271,952.18 316,565.69

ACTUAL EARNINGS 755.45ALLOWABLE EARNINGS 316,565.69

REBATE AMOUNT (315,810.24)FUTURE VALUE 5/28/2013 COMPUTATION DATE CREDIT (1,993.87)FUTURE VALUE 5/28/2014 COMPUTATION DATE CREDIT (1,919.73)FUTURE VALUE 5/28/2015 COMPUTATION DATE CREDIT (1,847.71)FUTURE VALUE 5/28/2016 COMPUTATION DATE CREDIT (1,746.06)COMPUTATION DATE CREDIT (1,670.00)

CUMULATIVE REBATE AMOUNT (324,987.61)

1

Rizzetta & Company, Inc.

Memo To: Belinda Blandon

From: Shandra Torres

CC:

Date: 6/20/2017

Re: Venetian CDD –Arbitrage Rebate Calculation Series 2012A-1 and 2012A-2– Period ending 5/30/17

Attached are copies of the Arbitrage Rebate Venetian CDD – Arbitrage Rebate Calculation Series 2012A-1 and 2012A-2 – 5/30/17. There is no arbitrage liability at this time. The arbitrage calculations are required by the Internal Revenue Service, as well as bond indenture to ensure compliance with the IRS requirements. This report has been scanned to I:\Venetian\Bonds\Arbitrage reports Shandra

DRAFTVENETIAN COMMUNITY DEVELOPMENT DISTRICT

June 12, 2017 Minutes of Meeting Page 1

MINUTES OF MEETING

Each person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that 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.


The regular meeting of the Board of Supervisors of the Venetian Community

Development District was held on Monday, June 12, 2017 at 9:30 a.m. at the Venetian River Club, 502 Pesaro Drive, North Venice, Florida 34275.

Present and constituting a quorum were: Jerry Jasper Board Supervisor, Chairman Harry Orenstein Board Supervisor, Vice Chairman Susie Lentile Board Supervisor, Assistant Secretary Richard Bracco Board Supervisor, Assistant Secretary Also present were: Belinda Blandon District Manager, Rizzetta & Company, Inc. Matthew Huber Regional District Manager, Rizzetta & Company, Inc. Andy Cohen District Counsel, Persson & Cohen, P.A. Rick Schappacher District Engineer, Schappacher Engineering Scott Kissell General Manager, River Club Kareen Richard Field Manager, Venetian CDD Audience FIRST ORDER OF BUSINESS Call to Order Ms. Blandon called the meeting to order and conducted the roll call. SECOND ORDER OF BUSINESS Public Comment Ms. Blandon opened the floor to public comments; she advised the public comment portion of the agenda is where individuals may comment on matters for which the Board may be taking action on or that may otherwise concern the District. Ms. Blandon further advised that each individual will be limited to three minutes. Comments from the audience were entertained regarding Artisti fencing, security issues with Laurel Road, request from the POA regarding upgrading the security system at the front gate, the front guardhouse being damaged again and the process for large trucks entering the community, and removal of the remaining the flag pole that is sticking out of the ground. Mr. Jasper asked that Ms. Richard move forward with repairs to the guardhouse, removal of the remaining flag pole, and trimming the necessary trees to expose the signage for trucks to enter utilizing the right lane as well as obtaining a proposal for new signage.



THIRD ORDER OF BUSINESS District Engineer Staff Report Mr. Schappacher advised he would be meeting with the Lennar team to review areas to be transitioned from Lennar to the CDD. The Board asked questions regarding the roads; Mr. Schappacher responded a bid package is being prepared to finish the roadways. Ms. Richard advised of an area at pond 23 where the bank is eroding as well as a section of pond 49 that requires planting. She further advised of fencing and landscaping to be redone. Mr. Schappacher advised he will also be inquiring regarding the crosswalks. Mr. Schappacher advised he received the SWFWMD restrictions related to watering and the concern as to whether or not the District is following the restrictions. Mr. Schappacher advised the District is following the restrictions. Discussion ensued. Mr. Schappacher advised of a hydraulic fluid spill at Cipriani and Martellago. FOURTH ORDER OF BUSINESS Presentation of Fiscal Year 2017/2018

Proposed Budget Ms. Blandon advised the budget has been reviewed extensively and corrections have been made based on changes that were requested at the last meeting. She further advised a letter regarding District Management fees was submitted to the Board on Friday, June 9, 2017 and in that letter two alternatives were provided and the Board requested that she go back and ask for a reduction in the hourly rate and as per the letter the fee cannot be reduced from $175.00 per hour. Ms. Blandon advised alternative number two allows for 24 meetings and 1 workshop with a maximum of four hours per meeting and if the second meeting is not held the district will be charged on a per meeting basis, so if the second meeting is not held the District will only be charged for the additional meetings the District deems necessary. She advised this is a different approach from now in which the second meeting is invoiced. If a second meeting is not held the District will be credited for the second meeting. Mr. Jasper inquired as to the difference. Ms. Blandon advised there is a $100.00 difference. Ms. Blandon advised the meeting charge would be $950.00 per meeting. Mr. Bracco inquired as to the fees reflecting a four hour meeting, and the $175.00 charge for time exceeding the four hours. Ms. Blandon advised the year to date as of April extra meeting charge is $1,514.00 and the District Management fee overrun is $1,835.00. Mr. Bracco suggested the meetings should have an ending time and if there is an occasion where the meeting needs to run later it is okay. He suggested setting 1:15 p.m. as an end time for the meetings. Discussion ensued regarding the length of meetings. Mr. Bracco inquired regarding the skeletal minutes becoming more detailed and whether or not that affected the District Management fees. Ms. Blandon confirmed. Mr. Orenstein asked for clarification regarding the $175.00 charge. Mr. Huber clarified the $175.00 is for Ms. Blandon’s time and the $950.00 accounts for planning, preparations, travel time, administrative time, etc. Mr. Huber provided information related to being charged fees and then being credited for meetings that are not held. Mr. Orenstein advised he agrees with Mr. Bracco regarding the shorter meeting, he also suggested requiring a consensus of the Board to exceed the set meeting timeframe. Mr. Orenstein also suggested limiting the time limit for Supervisor Requests and Comments should it become necessary. Discussion ensued regarding the length of meetings and agendas. Mr. Cohen suggested adding the meeting time frame to the Rules of Procedure which control the operations of the District. Mr. Orenstein inquired regarding the need for a public hearing to implement the meeting time limit. Mr. Cohen advised a public hearing is not required.



On a Motion by Mr. Bracco, seconded by Mr. Jasper, with all in favor, the Board Limited Meetings to a Maximum of Four Hours, and Allowing Continuance in 30 Minute Intervals Subject to Majority Vote of the Board, for the Venetian Community Development District.

Ms. Blandon redirected the Board to the letter sent by Rizzetta & Company, Inc. related to the fees. She advised $70,500.00 is included in the budget for District Management fees so adjustments will need to be made. Mr. Jasper advised the District Management fees are a total of line item #25, #26, #31, #32, and #33. Ms. Blandon advised an increase of $900.00 will be applied. Discussion ensued regarding the differences between Alternative #1 and Alternative #2.

On a Motion by Mr. Jasper, seconded by Mr. Orenstein, with all in favor, the Board Accepted Alternative #1 Related to District Management Fees, for the Venetian Community Development District.

Mr. Huber left the meeting in progress at 10:20 a.m. Mr. Jasper asked Ms. Richard to provide an overview of the costs related to RFID and bar code gate entry systems. Ms. Richard advised the bar code system is more expensive to install. She advised the RFID system is less expensive to install. Ms. Richard advised the District needs approximately 3,000 transponders. Mr. Orenstein suggested budgeting $50,000.00 to $60,000.00 for transitioning to a new system. Discussion ensued. Ms. Blandon asked if the Board would like to create a line item in the proposed budget for this project. The Board advised they would like to add a $60,000.00 line item for updating of the gate entry system. Mr. Jasper discussed the options and asked that Ms. Richard have proposals available for the next meeting. Ms. Blandon inquired regarding having the Traffic Enforcement Committee take charge of this project. Mr. Jasper advised he would like to have Ms. Richard obtain the proposals. Mr. Orenstein inquired regarding the budget line item for District Counsel being enough at $72,000.00. Mr. Cohen advised the line item should be sufficient. Discussion ensued regarding various line items. Ms. Blandon advised that based on changes made to the Budget, the total general fund budget being submitted for the TRIM notice is $1,541,867.00. Discussion ensued regarding the Enterprise fund. Mr. Orenstein inquired regarding the Employee Benefits line item. Mr. Kissell provided an overview of the process behind estimating the specific line item. Discussion ensued. Mr. Kissell discussed the line item for Clubhouse Refurbishment as well as a meeting held with himself, Mr. Lusty, Mr. Kleinglass, and Noller Design Group. Discussion ensued. Ms. Blandon asked if there were any questions related to the reserve budgets. There were none. FIFTH ORDER OF BUSINESS Consideration of Resolution 2017-08,

Approving a Proposed Budget for Fiscal Year 2017/2018 and Setting a Public Hearing Thereon



Mr. Cohen reviewed the resolution.

On a Motion by Mr. Jasper, seconded by Mr. Orenstein, with all in favor, the Board Adopted Resolution 2017-08, Approving a Proposed Budget for Fiscal Year 2017/2018, as Amended on the Record, and Setting a Public Hearing Thereon for Monday, August 28, 2017 at 9:30 a.m., to be held at the Venetian River Club, 502 Veneto Boulevard, North Venice, Florida 34275, for the Venetian Community Development District.

The Board took a recess at 10:50 a.m. and the meeting was reconvened at 10:58 a.m. SIXTH ORDER OF BUSINESS Consideration of Audit for Fiscal Year

2015/2016 as Prepared by McDirmit Davis & Company, LLC

Ms. Blandon reviewed the audit for fiscal year 2015/2016 as prepared by McDirmit Davis & Company, LLC. She asked if there were any questions regarding the audit. Questions and comments from the Board were entertained.

On a Motion by Ms. Lentile, seconded by Mr. Jasper, with all in favor, the Board Accepted the Audit for Fiscal Year 2015/2016, as Prepared by Mc Dirmit Davis & Company, LLC, for the Venetian Community Development District.

SEVENTH ORDER OF BUSINESS Consideration of Invision Proposals for

Repairs to the Rear Gate Ms. Richard provided an overview of the ongoing problems with the rear gate and reviewed the two proposals from Invision for repairs. She advised the rear gate is used as an exit only gate. Ms Richard advised Invision wanted to replace both operators on the gate though one was recently refurbished; the cost to replace both operators is $8,786.67. She advised the first proposal in the agenda package is to leave the exit gate open during the day and install a barrier arm similar to the front gate and it would be sensor operated. Ms. Richard recommended selecting the less expensive proposal and then having patrol close the gate and disable the barrier arm in the evening as it would reduce the wear and tear on the gate. Questions and comments were entertained.

On a Motion by Mr. Orenstein, seconded by Ms. Lentile, with all in favor, the Board Accepted the Proposal from Invision in the amount of $4,996.26, for repairs to the rear exit gate, for the Venetian Community Development District.

EIGHTH ORDER OF BUSINESS Review and Consideration of Updated

River Club Rules Mr. Kissell provided an overview of the proposed changes to the River Club Rules and Regulations. Mr. Cohen advised these changes should go through the rule making process. He provided an overview of the process which requires two published notes and a public hearing. Mr. Cohen provided an overview of Chapter 190.011, sub paragraph 5, and further advised of the



process required. Mr. Orenstein inquired regarding background checks for renters and what the issues or barriers may be. Mr. Cohen advised the District does not control the renting process and asked for clarification to the question. Mr. Jasper advised Counsel to the POA has advised against requiring background checks. Discussion ensued. Mr. Jasper advised the declarations provide for transfer of membership via an approved lease and that approval comes through the POA. Mr. Cohen advised he can research the subject if the Board would like. Mr. Orenstein suggested this concern be handled by the POA. Further discussion ensued. Discussion ensued regarding the revised River Club Rules and Regulations.

On a Motion by Mr. Orenstein, seconded by Ms. Lentile, with all in favor, the Board Directed Staff to Proceed with the Rule Making Process for Amendments to the River Club Rules, for the Venetian Community Development District.

NINTH ORDER OF BUSINESS Consideration of the Revised Minutes of

the Board of Supervisors’ Meeting held on April 10, 2017

Ms. Blandon presented the revised minutes of the Board of Supervisors’ meeting held on April 10, 2017 and asked if there were any question, comments, or revisions to the minutes. Mr. Orenstein reviewed his comments to the minutes.

On a Motion by Ms. Lentile, seconded by Mr. Bracco, with all in favor, the Board Approved the Revised Minutes of the Board of Supervisors’ Meeting held on April 10, 2017, Subject to the Change Noted on the Record to the Fourth Order of Business, for the Venetian Community Development District.

TENTH ORDER OF BUSINESS Consideration of the Minutes of the Board

of Supervisors’ Meeting held on May 8, 2017

Ms. Blandon presented the minutes of the Board of Supervisors’ meeting held on May 8, 2017 and asked if there were any questions, comments, or revisions to the minutes. Mr. Orenstein reviewed his comments to the minutes.

On a Motion by Mr. Bracco, seconded by Ms. Lentile, with all in favor, the Board Approved the Minutes of the Board of Supervisors’ Meeting held on May 8, 2017, Subject to the Changes Noted on the Record, for the Venetian Community Development District.

ELEVENTH ORDER OF BUSINESS Consideration of the Minutes of the Board

of Supervisors’ Meeting held on May 22, 2017



Ms. Blandon presented the minutes of the Board of Supervisors’ meeting held on May 22, 2017 and asked if there were any questions, comments, or revisions to the minutes. Mr. Orenstein reviewed his comments to the minutes.

On a Motion by Mr. Bracco, seconded by Mr. Jasper, with all in favor, the Board Approved the Minutes of the Board of Supervisors’ Meeting held on May 22, 2017, Subject to Changes Made on the Record, for the Venetian Community Development District.

TWELFTH ORDER OF BUSINESS Consideration of the Minutes of the Pool &

Fitness Committee Meeting held on April 17, 2017

Ms. Blandon presented the minutes of the Pool & Fitness Committee meeting held on April 17, 2017 and asked if there were any questions.

On a Motion by Mr. Orenstein, seconded by Ms. Lentile, with all in favor, the Board Accepted the Minutes of the Pool & Fitness Committee Meeting held on April 17, 2017, for the Venetian Community Development District.

THIRTEENTH ORDER OF BUSINESS Consideration of the Operations and

Maintenance Expenditures for the Month of May 2017

Ms. Blandon presented the operations and maintenance expenditures for the period of May 1-31, 2017, advising expenditures total $123,399.04. She asked if there were any questions related to any item of expenditure. Mr. Orenstein inquired regarding reimbursement for the stucco repairs. Ms. Richard confirmed reimbursement was received. Mr. Jasper inquired regarding the DNS Construction invoice. Ms. Richard advised it was for work on the outfall structures.

On a Motion by Mr. Orenstein, seconded by Mr. Bracco, with all in favor, the Board Approved the Operations and Maintenance Expenditures for the Month of May 2017, which total $123,399.04, for the Venetian Community Development District.

FOURTEENTH ORDER OF BUSINESS Review of April 2017 River Club and CDD

Financials Mr. Kissell provided an overview on the April 2017 River Club Financials. Discussion ensued. Ms. Blandon provided an overview of the April 2017 CDD Financials. Discussion ensued. FIFTEENTH ORDER OF BUSINESS Staff Reports

A. District Counsel Mr. Cohen advised he had no report.



B. River Club Mr. Kissell advised the resurfacing of the courts is scheduled for the 14th or 24th of

August. He further advised the court will be shut down for a week for the resurfacing. Mr. Kissell advised the shed and walkway permits should be issued as approximately the same time as the courts are being resurfaced. Mr. Kissell advised of oak tree removal to be conducted after hours before the shed project begins. He advised he will have spa resurfacing bids for the next meeting and he expects the project to cost approximately $2,500.00. Mr. Kissell advised the River Club as a whole is ahead of budget and further advised he will be bringing in proposals for pressure washing and sealing of all of the sidewalks, pavers and pool area. Mr. Kissell advised the faucets in the men’s locker room need to be replaced at a cost of approximately $1,580.00. Ms. Lentile inquired as to a finishing time for the tennis shed and gathering area. Mr. Kissell advised September. Mr. Orenstein inquired regarding job descriptions for River Club personnel. Mr. Kissell advised Ms. Bialy has them. Mr. Orenstein advised he would like to review the job descriptions. Mr. Kissell advised he will provide them.

C. Field Manager

Ms. Richard advised the aerators for pond 23 is pending receipt of the signed agreement. She further advised the crooked palm has been replaced with a magnolia. Ms. Richard advised a field inspection was completed the previous Friday. She advised the wetland behind 178 Valenza Loop has been severely damaged and needs to be restored. Mr. Cohen suggested obtaining a proposal for repairs and then presenting the proposal to the homeowner to be paid. Mr. Jasper advised a cease and desist letter should be sent to the homeowner by Mr. Cohen. Ms. Richard will provide the contact information to Mr. Cohen. Ms. Richard advised she has a proposal from Tri-County for 18, 7 gallon wax myrtles. Mr. Bracco inquired regarding the bushes to be planted at the River Club parking lot. Ms. Richard advised she will obtain a proposal. Ms. Lentile advised an email was received while Ms. Richard was on vacation from a resident on Padova regarding a lift station. Ms. Blandon advised there was no odor at the time of inspection.

D. District Manager Ms. Blandon advised the next meeting of the Board of Supervisors’ is scheduled for Monday, June 26, 2017 at 9:30 am, she further advised that during the last meeting; she inquired with the Board regarding cancellation of this meeting. The consensus of the Board is to cancel the June 26, 2017 meeting. Mr. Cohen advised he will not be in attendance for the July 10, 2017 meeting though he will send someone from his office to attend. Ms. Blandon provided an update regarding the hydraulic spill claim; she advised she has been in communication with the claims representative from the City, Aaron Prideux. She advised correspondence was received from the adjuster on June 9, 2017 and according to the adjuster the affected areas from the spill total 6,560 square feet and based on their calculations the cost to recondition those areas only and not the entire roadway total $3,148.11. The claims adjuster is asking if the district will accept this offer. Discussion ensued. Ms. Blandon advised a claim was opened with the same adjuster for the second spill. The Board rejected the offer for the first claim.



Ms. Blandon advised she received an email from Mr. Lusty nominating Ms. Debbie Gericke to fill the Facilities Committee position left vacant by the resignation of Ms. Susan Ireland.

On a Motion by Mr. Orenstein, seconded by Ms. Lentile, with all in favor, the Board Appointed Ms. Debbie Gericke to the Facilities Committee, to Serve the Remainder of the Term due to the Resignation of Ms. Susan Ireland, for the Venetian Community Development District.

SIXTEENTH ORDER OF BUSINESS Supervisors Requests and Comments

Ms. Blandon opened the floor to Supervisor requests and comments. Mr. Bracco thanked the Board for the meeting time limit being imposed.

SEVENTEENTH ORDER OF BUSINESS Adjournment

On a Motion by Mr. Bracco, seconded by Mr. Orenstein, with all in favor, the Board adjourned the meeting at 12:03 p.m., for the Venetian Community Development District.

Secretary / Assistant Secretary Chairman / Vice Chairman


VENETIAN RIVER CLUB

502 VENETO BOULEVARD

NORTH VENICE, FLORIDA 34275

FACILITIES ADVISORY COMMITTEE

MAY 2, 2017

Attending Members: Jerry Flood, Steven Kleinglass, Phil Knight, Steve Wright, Boris Yoffe; Scott Kissell, General Manager, VRC.

Absent: Terry Becraft and David Lusty, VCDD Liaison to the Facilities Advisory Committee

Discussion Topics:

A. Call to Order: Chairman Kleinglass called the meeting to order at 1:01 P.M. Before proceeding with the agenda items Mr. Kleinglass noted that Mr. Lusty was unavailable to attend as he was on vacation in Italy. He further remarked that Ms. Ireland had resigned from the committee and that he would be sending a communication to Ms. Ireland, on behalf of the committee, to thank her for her service to the committee. A replacement candidate will be sought.

B. Additions or deletions to the Agenda: Mr. Knight referenced a communication Mr. Lusty had made to a resident pertaining to matters germane to the VRC. He wanted to discuss that letter during the meeting. Mr. Yoffe wanted to discuss the use of the lap pool. Mr. Kleinglass noted that he contacted the chair of the Pool and Fitness Committee about planning a joint session of the two committees to review and discuss the current smoking policy at the VRC. The Facilities Advisory Committee is to take up the matter with no joint meeting planned.

C. Approval of the April 3, 2017 meeting minutes: Mr. Yoffe made a motion to approval the minutes as presented. Mr. Knight seconded and the minutes were approved by unanimous vote.

D. Old Business: a. Interior Design Updates: Mr. Kissell provided the following remarks on the topic. 1) An

interior designer has been contacted. He had discussed the primary components of the proposed updates to the VRC. 2) He noted two phases of the project as being the planning phase and the implementation phase. 3) A “Master Plan” concept is to be followed. 4) Residents can always attend Facilities Advisory Committee meetings to learn about the project or offer comments. 5) Mr. Kissell to recommend a designer to develop the Master Plan. Funding availability is to be considered and cost estimates are to be developed. Project to include lighter paint colors, replace dining room furniture, consider new draperies and window treatments and consider artwork for the VRC. 6) Painting to be first step in the plan. The 2018 reserve plan envisioned replacement of dining room tables and chairs. 7) Designer

to act as the general contractor and to establish milestone dates as to how the Master Plan is to be developed and implemented. 8) There is no reserve for painting. A line item in the budget should be considered or a reserve needs to be established.

b. Smoking Recommendation: Mr. Kleinglass remarked that he contacted the Fitness and Pool Committee regarding smoking near the pool area. That committee suggested that smoking be eliminated near the pool. Mr. Flood noted that the POA Board voted to have three signs placed near the walkway behind the VRC to notice, “ No Smoking”. The Facilities Committee is being called upon to make a recommendation to the VCDD Board on smoking policy. Discussion ensued regarding enforcement of any new rules pertaining to smoking. Following input from all committee members it was the consensus of the committee that smoking be abolished near the pool areas. Further, the committee favored designating a smoking area at the south side of the club. The discontinuance of smoking near the pool area includes all types of tobacco and e-cigarettes. Mr. Wright made a motion to adopt the foregoing policy changes. Mr. Flood seconded and the motion to abolish smoking near the pool areas and restrict smoking only to a designated area on the southside of the VRC. The motion passed by unanimous vote. A second motion, to be brought to the VCDD Board, was discussed. Mr. Flood made a motion to propose to the VCDD that two tables and chairs be procured and placed in the newly designated smoking area. Mr. Knight seconded, and that motion also passed. The foregoing two motions are to be presented to the VCDD Board for consideration. Mr. Kissell stated that loss of Club privileges could be one of the penalties considered when enforcing a new smoking policy.

E. Management Report: Mr. Knight shared some photos of the signs posted near the entrance of the pool. He commented on the significant number of pool rules and the size of printed rules. He suggested that fewer rules be noted and that the print size be increased. Mr. Kissell remarked that bids were recently received for new signs with pool rules and to meet disability posting requirements. Mr. Kissell agreed to review the signage to assure state of Florida mandated compliance. Mr. Kissell will make recommendations as to placement and content of such new signs. Mr. Knight next referenced a lengthy communication from a resident, to Mr. Kissell ,pertaining to the community and the VRC. Mr. Lusty had replied to this resident and offered thanks for the thoughtfully crafted comments. Mr. Kissell distributed and reviewed a Pool/Water Analysis Data Sheet. He noted some pool resurfacing requirements and acid wash protocols. Mr. Kissell also discussed pricing for 25 new sling chaise lounge chairs for the pool.Finally. Mr. Kissell observed a recent decision by the VCDD Board as to use of the lap pool and the fact that pool, “walkers” had the same rights as lap swimmers in the lap pool. A rules and regulation update, and proper signage for the lap pool, is forthcoming.

F. VCDD Report: No report as Mr. Lusty could not attend the meeting.

G. New Business: No new business was brought forth. It was noted that the next VCDD Board meeting was scheduled for May 22, 2017 at 9:30 A.M. It was hoped that the Facilities Advisory Committee’s recommendations on smoking policy could be addressed by the VCDD during that meeting.

H. Next Meeting: The next meeting of the Facilities Advisory Committee is scheduled for Monday, June 5, 2017 at 9:00 A.M. (VRC).

I. Adjourn: Mr. Kleinglass adjourned the meeting at 2:34 P.M. and noted a campus walk would follow the meeting. Respectfully submitted by Stephen R. Wright, Secretary.

MEETING MINUTES VENETIAN COMMUNITY DEVELOPMENT DISTRICT

Pool and Fitness Advisory Committee Meeting May 15, 2017

Page 1 of 2 Members: Joy Wolf, Chair Scott Kissell, River Club Manager Lisa Plotkin, Vice Chair/Absent Charlie Sandomenico, Dir. Of Tennis and Fitness/Absent Gwen Mengel, Secretary Harry Orenstein, VCDD Board/Absent Harriet Ambrose, Member Peggy Palmer, Member/Absent Tisha Washington, Member Dick Foster, Member 1. Call to Order/ Roll Call/Establish Quorum a. Meeting called to order May 15, 2017 at 2pm b. Quorum established 2. Additions and Adjustments to Agenda / Proceed with agenda 3. Resident Input / No residents at meeting 4. VCDD Board Update – Harry Orenstein / Board representative not at meeting 5. Management Update / Scott Kissell and Charlie Sandomenico/Absent a. VCDD Board Actions and Comments

1. Explained the requirement and ongoing process to review and coordinate existing or proposed operations and policies, with existing or changing VCDD rules and regulations

2. Update on the VCDD Budget process and time frame to submit proposals b. Management Updates

1. Discussion of ideas for orientation program for new owners regarding resources available at the River Club

2. Reviewed reports of Fitness Class participation and compared to prior year 3. Discussion on best practices to serve the fitness needs of the community a. Types of classes b. Best use of instructors and instructor feedback c. Scheduling d. Guest policies

3. Discussed the idea of a new job created to serve as a Pool Monitor 4. Update on spa repair and scheduled spa resurface

MEETING MINUTES

VENETIAN COMMUNITY DEVELOPMENT DISTRICT Pool and Fitness Advisory Committee Meeting

May 15, 2017 Page 2 of 2

6. Business Administration a. Review and Approve Minutes from April 17, 2017

b. Update on Fitness Equipment review and the Master Plan for replacement 1. Committee requested clarification regarding responsibilities in the Master Plan process

c. Director of Tennis and Fitness Job Description 1. Discussion regarding the programs, functions and goals required of the job 2. Committee understands that Management is responsible for determining job descriptions d. Manager Kissell will prepare a Guest Policy proposal to be presented to the VCDD Board in compliance with the budget process e. Management will continue to review and develop class enrollment reports to review participation trends and develop cancellation policies f. Fitness on Demand will be promoted during new owner orientation g. No Smoking Policy discussed regarding the designation of an appropriate designated smoking

area.

7. New Business Requests and Comments/ No requests or comments 8. Adjournment

a. Motion made at 4:05pm and approved to adjourn meeting 9. Next Meeting June 19, 2017 at 2pm

Tab 10

Venetian Golf and River Club Social & Dining Advisory Committee

Minutes of May 10, 2017

Call to Order—The meeting was called to order at 10 a.m. by Chair, Diane Bazlamet. Members attending were D. Bazlamit, D. Glatz, P. Phillipes, K. Pickering, and W. Tominosky, constituting a quorum. Also present were River Club staff members, S. Kissell, T. Nurney, J. Music and C. Vignolini, and CDD liason, R. Bracco.

The minutes of the meeting of April 12 were distributed and approved.

Old Business—April and early May events were discussed. With the exception of Sunset Specials and Prime Time, all events met or exceeded projections. Both Easter events and the Caribbean Pool Party did exceptionally well. Breakfast Buffets and the Birthday Bash also were well attended.

New Business—

1 Currently scheduled July events on the calendar were reviewed, and it was determined that additional events would be held on July 4, 7, 15, 21 and 27.

2 Future program ideas were suggested by committee members, as follows: an adult focused, circus themed event; a Broadway music vocal program; a Mardi Gras Party; a Kentucky Derby event; another Casino night; a Talent Show; a Cooking Demonstration combined with lunch or dinner; a Fashion Show and luncheon; a Jewelry-making Party; and an afternoon Wine Tasting event with possible wine sales to attendees. Staff agreed to take all these ideas under advisement.

3 Future meeting dates were established for July 12 and September 13, with no meetings scheduled in June and August.

4 Opportunities for additional outside wedding, anniversary, and birthday business at the Club were discussed. Members reacted favorably to this potential source of additional revenue generation. Staff will pursue additional methods of advertising and promotion.

5 Sunshine Law requirements were discussed. Members were encouraged to use the special portal for committee related communications. The portal information will be re-sent to members.

6 Richard Bracco reported on the work of the new Traffic Committee with a particular focus on internal enforcement options, including additional stop signs, removal of speed bumps and several ways to reduce speeding within the community.

7 Scott Kissell discussed the updating of rules for the pool and tennis courts. He also noted that a new lighted flagpole, funded by the Community Association, will be installed at the community entrance.

Upon motion made and seconded, the meeting was adjourned by the Chair at 11:05 a.m.

Respectfully submitted,

Peter M. Phillipes

Tab 11

As of 5/31/2017

Current Month Prior YearAssetsCash AccountsOperating Account 479,482 237,086Cash Drawers / Banks 900 900Check Clearing 0 251Amex Clearing 0 0Visa/MC Clearing 715 1,415Total Cash Accounts 481,097 248,889

Accounts ReceivableA/R - Membership 48,079 24,820A/R - Events 6,963 12,219A/R - CDD - Annual Assessments 254,609 397,730Due from/to CDD River Club Account 0 0Allowance for Doubtful Accts (6,752) (9,942)Total Accounts Receivable 302,900 424,828

InventoryFood Inventory 14,162 14,934Liquor Inventory 9,096 8,336Liquor Inventory - Tiki 0 805Beer Inventory 713 685Beer Inventory - Tiki 0 65Wine Inventory 4,116 4,052Wine Inventory - Tiki 0 35Perishable Inventory 530 472Tennis Hardgoods 4,538 6,056Total Inventory 33,156 35,460

Other AssetsPrepaid Expenses 3,543 3,249Total Other Assets 3,543 3,249

DepositsBeverage Deposits 1,750 1,750Security Deposits 485 2,400Total Deposits 2,235 4,150

Total Assets 822,930 716,576

River ClubBalance Sheet

As of 5/31/2017

Current Month Prior Year

River ClubBalance Sheet

Liabilities Current Liablilities Accounts Payable 25,593 46,036Insurance Payable 17,456 28,664Sales & Use Tax Payable 4,384 2,317Accrued Payroll 64,809 55,053Accrued Operatiing Expenses 5,985 0Deferred Membership Dues 503,136 519,048Employee Christmas Fund (1,105) (828)Gratuities Payable 1,552 1,157Event Deposits 6,000 13,460Total Current Liablitites 627,810 664,386

EquityCurrent Year Net Income 100,097 10,624Retained Earnings 95,023 41,567Total Equity 195,120 52,190

Total Liablities and Equity 822,930 716,577

As of

Curr Mth Actual Final Plan Plan Var Variance%

YTDActual

Final PlanYTD

Plan Var VarianceYTD %

REVENUES125,784 125,784 0 0.00% 1,006,272 1,006,272 0 0.00%58,898 45,000 13,898 30.88% 534,261 476,998 57,263 12.00%3,524 2,842 682 24.01% 49,035 51,233 (2,198) -4.29%

TOTAL REVENUES 188,206 173,626 14,580 1,589,568 1,534,503 55,065

OPERATING EXPENDITURESCOST OF GOODS SOLD

844 650 (194) 29.80% 7,743 7,670 (73)24,030 18,108 (5,922) -32.70% 210,633 191,948 (18,685) -9.73%

24,874 18,758 (6,116) 218,376 199,618 (18,758)

SALARIES & BENEIFTS65,504 62,680 2,824 4.51% 523,478 542,524 (19,046) -3.51%1,947 1,920 27 1.41% 16,312 15,360 952 6.20%

720 1,920 (1,200) -62.50% 10,720 15,360 (4,640) -30.21%23,955 21,640 2,315 10.70% 196,588 186,884 9,704 5.19%

0 450 (450) -100.00% 0 600 (600) -100.00%

REPAIRS & MAINTENANCE7,768 1,475 6,293 426.66% 31,952 21,550 10,402 48.27%

13,586 12,454 1,132 9.09% 101,939 105,826 (3,887) -3.67%60 75 (15) -20.15% 306 600 (294) -49.02%

680 700 (20) -2.82% 11,709 10,433 1,276 12.23%0 5,000 (5,000) -100.00% 1,899 12,000 (10,101) -84.18%

418 375 43 11.50% 4,910 3,270 1,640 50.17%

OFFICE EXPENSE38 550 (512) -93.14% 598 1,370 (772) -56.33%

1,143 1,160 (17) -1.49% 9,304 9,280 24 0.26%0 0 0 0.00% 0 375 (375) -100.00%

508 205 303 147.60% 3,832 3,480 352 10.12%

OPERATING EXPENSE2,051 2,051 0 0.00% 16,257 16,281 (24) -0.15%

0 20 (20) -100.00% 0 160 (160) -100.00%0 165 (165) -100.00% 525 1,320 (795) -60.26%

6,959 7,050 (91) -1.30% 53,759 57,900 (4,141) -7.15%90 0 90 0.00% 2,447 5,100 (2,653) -52.03%

3,719 3,599 120 3.34% 28,680 33,692 (5,012) -14.88%2,471 1,222 1,249 102.22% 25,480 21,826 3,654 16.74%2,202 615 1,587 258.05% 10,785 11,525 (740) -6.42%1,148 2,450 (1,302) -53.16% 10,814 14,175 (3,361) -23.71%

290 432 (142) -32.81% 3,867 3,153 714 22.66%765 1,040 (275) -26.43% 10,893 9,540 1,353 14.18%416 475 (59) -12.37% 10,422 8,525 1,897 22.26%244 1,078 (834) -77.40% 6,324 9,878 (3,554) -35.98%820 705 115 16.29% 6,432 5,785 647 11.19%

5,253 3,850 1,403 36.45% 37,584 31,000 6,584 21.24%

Other Revenue

River Club CDD Report5/31/2017

Dues RevenueRestaurant Revenue

Shop & Hand Tools

Tennis Cost Of SalesF&B Cost Of SalesTotal Cost of Goods Sold

Salaries & WagesLessons - FitnessContract ServicesEmployee BenefitsEmployee Education & Training

Repairs & Maintenance - EquipmentMaintenance Contracts

Meals & Entertainment

Building MaintenanceSod & SeedChemicals

PostageTelephonePrintingOffice Supplies

Employee Meals

Decorations

TravelElectricityPersonnel SuppleisLaundryMusic & EntertainmentEquipment ReplacementOperating SuppliesChina Glass SilverPaper/Plastic

Equipment RentalGas Diesel Fuel and OilWater & Sewer

As of


YTDActual

Final PlanYTD


River Club CDD Report5/31/2017

447 135 312 230.89% 1,915 1,080 835 77.28%109 0 109 0.00% 10,010 5,541 4,469 80.65%

LEGAL & PROFESSIONAL123 550 (427) -77.68% 246 4,400 (4,155) -94.42%

2,182 2,917 (735) -25.20% 17,456 23,336 (5,880) -25.20%

OTHER ADMINISTRATIVE COST0 0 0 0.00% 651 850 (199) -23.40%

910 775 135 17.45% 11,592 8,344 3,248 38.92%2,551 1,500 1,051 70.04% 16,142 14,500 1,642 11.32%

0 0 0 0.00% 666 2,500 (1,834) -73.37%0 0 (0) -100.00% 57 0 57 574200.00%0 75 (75) -100.00% 0 600 (600) -100.00%

OTHER ITEMS

9,770 5,751 4,020 69.90% 18,256 54,929 (36,673) -66.76%6,000 6,000 0 0.00% 48,000 48,000 0 0.00%

625 3,500 (2,875) -82.14% 8,290 15,635 (7,345) -46.98%Extraordinary Items 0 (2) 2 0 (2) 2

TOTAL EXPENDITURES 190,345 175,315 15,031 1,489,472 1,538,103 (48,631)

REVENUES LESS EXPENDITURES (2,139) (1,689) (450) 100,097 (3,600) 103,697

Misc Expense/CC Fees 7652/Cash

Sanitation DisposalLicenses and Fees

Legal FeesInsurance

Dues & SubscriptionsCom Related Prootion/Security 7645

Management FeeAmenities Marketing

Employee RelationsCash Over/ShortBad Debt Expense

MarketingNonRecurring Expenses

As of

Curr Mth Actual Final Plan Plan Var

Variance%

YTDActual

Final PlanYTD


Tennis Revenue 1,053 1,120 (67) -6.00% 11,452 13,240 (1,788) -13.51%

Amenity Ooperating COSHard Goods 844 650 194 29.80% 7,743 7,670 (73) -0.95%Total Amenity Ooperating COS 844 650 (194) 7,743 7,670

Gross Profit 209 470 (261) 3,709 5,570 (1,861)

Salaraies and BenefitsSalaries & Wages 4,126 5,057 (931) -18.40% 32,011 39,746 (7,735) -19.46%Employee Benefits 1,132 1,694 (562) -33.19% 9,597 13,314 (3,717) -27.92%Outside Training 0 450 (450) -100.00% 0 450 (450) -100.00%Total Salaraies and Benefits 5,258 6,751 1,493 499.45% 41,609 53,060 11,451

Repairs and MaintenanceRepairs & Maintenance 501 0 501 0.00% 7,553 7,500 53 0.70%Total Repairs and Maintenance 501 0 (501) 47.64% 7,553 7,500 (53)

Office ExpenseOffice Supplies 0 0 0 0.00% 406 600 194 32.37%Total Office Expense 0 0 0 0.00% 406 600 194

Operating SuppliesEmployee Meals 181 181 0 0.00% 1,448 1,448 0 0.00%Personnel Supplies 0 0 0 0.00% 603 500 (103) -20.58%Equipment Replacement 1,232 0 1,232 0.00% 1,516 500 (1,016) -203.22%Operating Supplies 135 1,000 (865) -86.54% 4,444 3,500 944 26.98%Total Operating Supplies 1,548 1,181 (367) 147.05% 8,011 5,948 (2,063)

General and AdministrativeSubscriptions 0 0 0 0.00% 295 300 5 1.67%Community Related Promos 0 50 (50) -100.00% 1,046 900 (146) -16.22%Cash Over/Short 0 0 (0) -100.00% 0 0 0 100.00%Total Other Administrative cost 0 50 50 0.00% 1,341 1,200 (141)

Total General and Administrative 7,308 7,982 674 694.14% 58,920 68,308 9,388

Profit/(Loss) - Tennis (7,099) (7,512) 413 -674.28% (55,211) (62,738) 7,527

Venetian River ClubIncome Statement - Tennis

5/31/2017

As of

Curr Mth Actual Final Plan Plan Var

Variance%

YTDActual

Final PlanYTD


Fitness Revenue 1,099 1,068 (31) -2.92% 18,846 20,987 (2,141) -10.20%

Salaries & BenefitsSalaries & Wages 7,294 6,237 1,057 16.95% 58,011 50,198 7,813 15.56%Contract Services 720 1,920 (1,200) -62.50% 10,720 15,360 (4,640) -30.21%Lessons 1,947 1,920 27 1.41% 16,312 15,360 952 6.20%Employee Benefits 2,995 2,732 263 9.61% 25,023 21,959 3,064 13.96%Outside Training 0 0 0 0.00% 0 150 (150) -100.00%

Total Salaries & Benefits 12,956 12,809 147 110,066 103,027 7,039

Repairs & MaintnanceRepairs & Maintenance 0 100 100 100.00% 0 800 (800) -100.00%

Total Repairs & Maintnance 0 100 (100) 0 800 (800)

Operating SuppliesEmployee Meals 161 161 0 0.00% 1,288 1,288 0 0.00%Personnel Supplies 0 0 0 0.00% 212 400 (188) -46.94%Laundry 1,699 1,300 399 30.72% 13,722 15,300 (1,578) -10.31%Equipment Replacement 107 50 57 113.96% 507 650 (143) -22.03%Operating Supplies 45 50 (5) -10.22% 519 650 (131) -20.18%Total Operating Supplies 2,012 1,561 451 16,248 18,288 (2,040)

Other Admin CostSubscriptions 0 0 0 0.00% 200 400 (200) -50.00%Total Other Admin Cost 0 0 0 200 400 (200)

Total General and Admin 14,968 14,470 498 3.44% 126,515 122,515 4,000 3.26%

Profit/(Loss) - Fitness (13,869) (13,402) (467) (107,669) (101,528) (6,141)

Venetian River ClubIncome Statement - Fitness

5/31/2017

As of 5/31/2017

Curr MthActual Final Plan Plan Var

Variance%

YTDActual

Final PlanYTD


Repairs & MaintenanceTurf 0 1,000 (1,000) -100.00% 1,899 2,000 (101) 0.00%Pine Mulch 0 4,000 (4,000) -100.00% 0 10,000 (10,000) 0.00%Total Repairs & Maintenance 0 5,000 (5,000) 1,899 12,000 (10,101)

Operating Supplies 0 0 0 0.00% 0 0 0 0.00%Total General & Admin 0 0 0 0 0 0

Total Expense - Maintenance 0 5,000 (5,000) 1,899 12,000 (10,101)

Venetian River ClubIncome Statement - Maintenance

As of


YTDActual

Final PlanYTD


Food & BeverageFood 44,448 33,300 11,148 33.48% 400,072 352,980 47,092 13.34%Liquor 7,826 5,445 2,381 43.72% 65,043 57,720 7,323 12.69%Beer 1,571 998 573 57.40% 11,986 10,574 1,412 13.36%Wine 4,644 4,357 287 6.59% 49,578 46,184 3,394 7.35%Revenue - Other 0 900 (900) -100.00% 7,096 9,540 (2,444) -25.62%Total Operating Revenue 58,898 45,000 13,898 534,261 476,998 57,263

Restaruant COSCOS - Food 19,674 14,652 (5,022) 44% 173,660 155,311 (18,349) 43%COS - Liquor 1,651 1,470 (181) 21% 15,320 15,585 265 24%COS - Beer 506 374 (132) 32% 3,901 3,965 64 33%COS - Wine 1,189 1,612 423 26% 12,140 17,087 4,947 24%COS - Other 1,010 0 (1,010) 5,612 0 (5,612) 79%Total COS 24,030 18,108 (5,922) 210,633 191,948 (18,685)

Gross Profit 34,868 26,892 7,976 29.66% 323,628 285,050 38,578 13.53%

Salaries & BenefitsSalaries & Wages - Manager 4,833 35,448 (30,615) -86.36% 37,742 315,099 (277,357) -88.02%Salaries & Wages - Assist Mgr 3,333 0 3,333 26,192 0 26,192Salaries and Wages - Servers 9,924 0 9,924 82,727 0 82,727Salaries and Wages - Chef 5,500 0 5,500 43,783 0 43,783Salaries and Wages - Line Cook 9,909 0 9,909 87,656 0 87,656Salaries and Wages - Kitchen Utlty 1,838 0 1,838 13,312 0 13,312Employee Benefits 15,108 11,875 3,233 27.22% 124,624 105,557 19,067 18.06%Total Salaries & Benefits 50,446 47,323 3,123 6.60% 416,037 420,656 (4,619) -1.10%

Repairs & MaintenanceRepairs & Maintenance 3,208 275 2,933 1066.55% 4,498 2,200 2,298 104.47%Maintenance Contracts 166 0 166 0.00% 703 688 15 2.23%Chemicals 418 375 43 11.50% 4,910 3,270 1,640 50.17%Total Repairs & Maintenance 3,792 650 3,142 6.44% 10,112 6,158 3,954

Office ExpenseTelephone 80 200 (120) -60.00% 1,045 1,600 (555) -34.67%Total Office Expense 80 200 (120) 0.14% 1,045 1,600 (555)

Operating ExpensesEmployee Meals 1,445 1,445 0 0.00% 11,457 11,457 0 0.00%Travel 0 40 (40) -100.00% 52 320 (268) -83.70%Personnel Supplies 30 0 30 0.00% 983 3,200 (2,217) -69.27%Laundry 2,020 2,299 (279) -12.13% 14,958 18,392 (3,434) -18.67%Equipment Replacement 185 250 (65) -26.00% 3,732 4,600 (868) -18.87%Operating Supplies 436 225 211 93.93% 1,820 1,900 (80) -4.20%Dinnerware 290 432 (142) -32.81% 3,867 3,153 714 22.66%

Venetian River ClubIncome Statement - Food & Beverage

5/31/2017

As of


YTDActual

Final PlanYTD


Venetian River ClubIncome Statement - Food & Beverage

5/31/2017

Paper/Plastic 765 805 (40) -4.95% 8,346 7,710 636 8.25%Decorations 320 175 145 82.83% 1,684 1,400 284 20.32%Equipment Rental 0 833 (833) -100.00% 4,960 6,668 (1,708) -25.61%Gas/Diesel Fuil & Oil 510 230 280 121.79% 3,534 1,985 1,549 78.02%Total Operating Expenses 6,002 6,734 (732) 10.19% 55,394 60,785 (5,391)

Other Admin CostCommunity Related Promos 0 25 (25) -100.00% 745 100 645 645.20%Cash Over/Short 0 0 (0) -100.00% 89 0 89 894300.00%Total Other Admin Cost 0 25 (25) 0.00% 835 100 735

Total General & Admin 60,320 54,932 5,388 102.41% 483,423 489,299 (5,876)

Profit/(Loss) - Food & Beverage (25,452) (28,040) 2,588 (159,795) (204,249) 44,454

As of


YTDActual

Final PlanYTD


Operating RevenueDues Revenue 125,784 125,784 0 0.00% 1,006,272 1,006,272 0 0.00%Other Admin Rev 1,372 654 718 109.86% 18,738 17,006 1,732 10.18%Total Operating Revenue 127,156 126,438 718 1,025,010 1,023,278 1,732

Salaries & BenefitsSalaries & Wages 18,746 15,938 2,808 17.62% 142,043 137,481 4,562 3.32%Employee Benefits 4,721 5,339 (618) -11.58% 37,343 46,054 (8,711) -18.91%Total Salaries & Benefits 23,466 21,277 2,189 179,386 183,535 (4,149)

Repairs & MaintenanceRepairs & Maintenance 4,059 1,100 2,959 268.97% 19,900 11,050 8,850 80.09%Maintenance Contracts 13,420 12,454 966 7.75% 101,236 105,138 (3,902) -3.71%Shop & Hand Tools 60 75 (15) -20.15% 306 600 (294) -49.02%Building Maintenance 680 700 (20) -2.82% 11,709 10,433 1,276 12.23%Total Repairs & Maintenance 18,218 14,329 3,889 133,151 127,221 5,930

Office ExpensePostage 38 550 (512) -93.14% 598 1,370 (772) -56.33%Telephone 1,063 960 103 10.70% 8,258 7,680 578 7.53%Printing & Duplication 0 0 0 0.00% 0 375 (375) -100.00%Office Supplies 508 205 303 147.60% 3,426 2,880 546 18.97%Total Office Expense 1,608 1,715 (107) 12,283 12,305 (22)

Operating ExpensesEmployee Meals 264 264 0 0.00% 2,064 2,088 (24) -1.15%Meals & Entertainment 0 20 (20) -100.00% 0 160 (160) -100.00%Travel 0 125 (125) -100.00% 472 1,000 (528) -52.76%Power FPL 6,959 7,050 (91) -1.30% 53,759 57,900 (4,141) -7.15%Personnel Supplies 60 0 60 0.00% 648 1,000 (352) -35.18%Music & Entertainment 2,471 1,222 1,249 102.22% 25,480 21,826 3,654 16.74%Equipment Replacement 678 315 363 115.09% 5,030 5,775 (745) -12.90%Operating Supplies 532 1,175 (643) -54.75% 4,031 8,125 (4,094) -50.39%Paper/Plastic 0 235 (235) -100.00% 2,547 1,830 717 39.16%Decorations 96 300 (204) -67.90% 8,738 7,125 1,613 22.64%Equipment Rental 244 245 (1) -0.54% 1,364 3,210 (1,846) -57.52%Gas/Diesel Fuel & Oil 310 475 (165) -34.79% 2,898 3,800 (902) -23.73%Water & Sewer 5,253 3,850 1,403 36.45% 37,584 31,000 6,584 21.24%Sanitation Disposal 447 135 312 230.89% 1,915 1,080 835 77.28%Licenses & Fees 109 0 109 0.00% 10,010 5,541 4,469 80.65%

Venetian River ClubIncome Statement - Administration

5/31/2017

As of


YTDActual

Final PlanYTD


Venetian River ClubIncome Statement - Administration

5/31/2017

Total Operating Expenses 17,422 15,411 2,011 156,539 151,460 5,079

Legal and ProfessionalLegal Fees 123 550 (427) -77.68% 246 4,400 (4,155) -94.42%Total Legal and Professional 123 550 (427) 246 4,400 (4,155)

Other Admin CostSubscriptions 0 0 0 0.00% 156 150 6 4.07%Community Related Promos 910 700 210 30.04% 9,801 7,344 2,457 33.45%Miscellaneous 0 0 0 0.00% 0 0 0 0.00%Credit Card Fees 2,551 1,500 1,051 70.04% 16,142 14,500 1,642 11.32%Employee Relations 0 0 0 0.00% 666 2,500 (1,834) -73.37%Cash Over/Short 0 0 (0) -100.00% (32) 0 (32) -320200.00%Bad Debt Expense 0 75 (75) -100.00% 0 600 (600) -100.00%Total Other Admin Cost 3,461 2,275 1,186 26,733 25,094 1,639

Bank Relations 0 0 0 0.00% 0 0 0 0.00%Total General & Administrative 64,299 55,557 8,742 508,337 504,015 4,322

Other ExpensesNonRecurring Expenses 9,770 5,751 4,020 69.90% 18,256 54,929 (36,673) -66.76%Management fee 6,000 6,000 0 0.00% 48,000 48,000 0 0.00%Amenities Marketing 625 3,500 (2,875) -82.14% 8,290 15,635 (7,345) -46.98%

Insurance Allocated Off Budget Expenses 2,182 2,917 (735) -25.20% 17,456 23,336 (5,880) -25.20%Extraordinary Items 0 (2) 2 -100.00% 0 (2) 2 -100.00%Total Other Expenses 18,577 18,166 412 92,002 141,898 (49,896)

Profit/(Loss) - Administration 44,281 52,715 (8,435) 424,670 377,365 47,305

Venetian Community Development District

Financial Statements (Unaudited)

May 31, 2017

Prepared by: Rizzetta & Company, Inc.

Fort Myers Office 9530 Marketplace Road, Suite 206

Fort Myers, FL 33912 239.936.0913

rizzetta.com

Venetian Community Development DistrictBalance Sheet

As of 5/31/2017(In Whole Numbers)

General Fund Reserve Fund FundDebt Service

Enterprise Fund Reserve FundRiver Club

FundsGovernmental

Total

GroupAssets Account General Fixed

GroupDebt Account Long-Term

General

AssetsCash In Bank 110,953 0 0 823,129 0 934,082 0 0 Investments 438,041 0 1,498,888 0 0 1,936,929 0 0 Investments - Reserves 0 808,530 0 0 404,688 1,213,218 0 0 Accounts Receivable 2,537 144 2,710 2,689 263 8,342 0 0 Accounts Receivable - Other 0 0 0 19,795 0 19,795 0 0 Interest & Dividents Receivable 0 377 0 0 0 377 0 0 Advances to Vision 0 0 0 (17,362) 0 (17,362) 0 0 Prepaid Expenses and Inventory 0 0 0 39,627 0 39,627 0 0 Deposits 18,124 0 0 2,148 0 20,272 0 0 Due From Other Funds 15,505 215 20,137 20,270 5,775 61,902 0 0 Amount Available for Debt Service 0 0 0 0 0 0 0 1,521,735 Amount To Be Provided Debt Service 0 0 0 0 0 0 0 15,603,265 Fixed Assets 0 0 0 0 0 0 24,168,958 0

Total Assets 585,159 809,266 1,521,735 890,296 410,726 4,217,183 24,168,958 17,125,000

LiabilitiesAccounts Payable 65,934 0 0 25,593 0 91,527 0 0 Accrued Expenses Payable 2,519 0 0 0 0 2,519 0 0 Other Current Liabilities 0 0 0 0 0 0 0 0 Deposits 0 0 0 14,360 0 14,360 0 0 Due To Other Funds 45,473 0 0 925 15,505 61,902 0 0 Revenue Bonds Payable--Long Term 0 0 0 0 0 0 0 17,125,000

Total Liabilities 113,927 0 0 40,878 15,505 170,309 0 17,125,000

Fund Equity & Other CreditsBeginning Fund Balance 712,787 100,222 1,522,393 95,309 272,802 2,703,513 24,168,958 0 Net Change in Fund Balance (241,554) 709,044 (658) 754,109 122,419 1,343,361 0 0

Total Fund Equity & Other Credits 471,233 809,266 1,521,735 849,418 395,221 4,046,873 24,168,958 0

Total Liabilities & Fund Equity 585,159 809,266 1,521,735 890,296 410,726 4,217,183 24,168,958 17,125,000

See Notes to Unaudited Financial Statements

Venetian Community Development DistrictStatement of Revenues and Expenditures

001 - General FundFrom 10/1/2016 Through 5/31/2017

(In Whole Numbers)

BudgetAnnual

YTD Budget YTD Actual YTD Variance RemainingBudget

Percent Annual

RevenuesInterest Earnings

Interest Earnings 0 0 639 639 0.00%Special Assessments

Tax Roll 1,310,486 1,310,486 1,310,480 (6) 0.00%Off Roll 11,354 11,354 11,354 0 0.00%

Other Miscellaneous RevenuesTransponder Revenue 9,000 6,000 5,191 (809) 42.31%

Total Revenues 1,330,840 1,327,840 1,327,664 (176) 0.24%

ExpendituresLegislative

Supervisor Fees 12,000 8,000 6,900 1,100 42.50%Financial & Administrative

Administrative Services 5,400 3,600 3,600 0 33.33%District Management 20,400 13,600 16,835 (3,235) 17.47%District Engineer 30,000 20,000 19,218 783 35.94%Disclosure Report 500 500 1,500 (1,000) (200.00)%Trustees Fees 5,750 5,750 2,788 2,962 51.51%District Management Meeting Charge 6,300 4,200 1,514 2,686 75.97%Financial Consulting Services 10,000 8,333 8,333 0 16.66%Accounting Services 20,000 13,333 13,333 0 33.33%Auditing Services 8,000 8,000 6,000 2,000 25.00%Arbitrage Rebate Calculation 650 0 0 0 100.00%Insurance 7,306 7,306 6,197 1,109 15.17%Legal Advertising 2,000 1,333 982 352 50.91%Dues, Licenses & Fees 175 175 230 (55) (31.27)%Miscellaneous Fees 1,000 667 320 347 68.00%Website Fees & Maintenance 5,650 3,767 3,760 7 33.45%Miscellaneous Mailings 2,000 1,333 563 771 71.86%

Legal CounselDistrict Counsel 60,000 40,000 62,316 (22,316) (3.86)%

Security OperationsSecurity Services & Patrols 304,000 202,667 178,069 24,598 41.42%Guard & Gate Facility Maintenance 15,000 10,000 8,272 1,728 44.85%Gate Transponders 7,500 5,000 6,445 (1,445) 14.06%

Electric Utility ServicesElectricity 27,500 18,333 20,312 (1,979) 26.13%

Water-Sewer Combination ServicesWater/Sewer Effluent & Common Guardhouse

21,000 14,000 7,495 6,505 64.31%

Stormwater ControlAquatic Maintenance 42,000 28,000 23,952 4,048 42.97%



001 - General FundFrom 10/1/2016 Through 5/31/2017

(In Whole Numbers)

BudgetAnnual

YTD Budget YTD Actual YTD Variance RemainingBudget

Percent Annual

Fountain Service Repairs & Maintenance

4,000 2,667 2,755 (89) 31.11%

Lake/Pond Bank Maintenance 5,000 3,333 0 3,333 100.00%Mitigation Area Monitoring & Maintenance

39,000 29,250 25,467 3,783 34.70%

Stormwater System Maintenance 7,000 4,667 2,565 2,102 63.35%Other Physical Environment

Office & Administration 6,000 4,000 2,287 1,713 61.88%Staff Salaries/Payroll 121,500 81,000 77,355 3,645 36.33%Telephone, Fax, Internet 6,500 4,333 2,664 1,669 59.01%Landscape Maintenance 312,369 208,246 196,168 12,078 37.19%Irrigation Repairs 16,000 10,667 8,460 2,207 47.12%Irrigation Maintenance/Monitoring 7,000 4,667 3,141 1,526 55.13%Holiday Decorations 4,000 4,000 4,085 (85) (2.11)%Landscape Replacement Plants, Shrubs & Trees

5,000 3,333 19,501 (16,168) (290.02)%

Landscape - Pinestraw 25,000 25,000 20,475 4,525 18.10%Landscape - Flower Program 21,800 10,900 7,478 3,423 65.69%Landscape - Miscellaneous 20,800 13,867 8,050 5,817 61.29%Landscape - Mulch 65,000 65,000 62,625 2,375 3.65%Field Services 6,000 4,000 4,084 (84) 31.93%General Repairs & Maintenance 8,500 5,667 6,767 (1,100) 20.38%

Road & Street FacilitiesStreet/Parking Lot Sweeping 4,740 3,160 3,160 0 33.33%Street Light/Decorative Light Maintenance

4,000 2,667 3,975 (1,308) 0.63%

Roadway Repair & Maintenance 10,000 6,667 1,950 4,717 80.50%Street Sign Repair & Maint. 2,500 1,667 60 1,607 97.60%

ContingencyNon-Recurring Expenses 15,000 10,000 24,029 (14,029) (60.19)%

Total Expenditures 1,330,840 926,654 886,032 40,621 33.42%

Excess of Revenues Over (Under) Expenditures

0 401,186 441,632 40,446 0.00%

Other Financing Sources (Uses)Interfund Transfer 0 0 (683,186) (683,186) 0.00%

Excess of Rev./Other Sources Over (Under) Expend./Other Uses

0 401,186 (241,554) (642,740) 0.00%

Fund Balance, Beginning of Period0 0 712,787 712,787 0.00%

Fund Balance, End of Period 0 401,186 471,233 70,046 0.00%



005 - Reserve FundFrom 10/1/2016 Through 5/31/2017

(In Whole Numbers)

Annual Budget ActualCurrent Period

VarianceBudget To Actual

RemainingBudget Percent


Interest Earnings 0 796 796 0.00%Special Assessments

Tax Roll 198,877 198,878 1 0.00%Off Roll 1,723 1,723 0 0.00%

Total Revenues 200,600 201,397 797 0.40%

ExpendituresContingency

Capital Reserve 200,600 6,956 193,644 96.53%Total Expenditures 200,600 6,956 193,644 96.53%


0 194,441 194,441 0.00%

Other Financing Sources (Uses)Interfund Transfer 0 514,924 514,924 0.00%Unrealized Gain/Loss on Investments 0 (321) (321) 0.00%

Total Other Financing Sources (Uses) 0 514,603 514,603 0.00%

Exc. of Rev./Other Sources Over (Under) Expend./Other Uses

0 709,044 709,044 0.00%

Fund Balance, Beginning of Period0 100,222 100,222 0.00%

Fund Balance, End of Period 0 809,266 809,266 0.00%



200 - Debt Service FundFrom 10/1/2016 Through 5/31/2017

(In Whole Numbers)





Interest Earnings 0 3,197 3,197 0.00%Special Assessments

Tax Roll 1,456,885 1,456,885 0 0.00%Off Roll 14,099 14,099 0 0.00%Prepayments 0 12,943 12,943 0.00%

Total Revenues 1,470,984 1,487,123 16,140 1.10%

ExpendituresDebt Service Payments

Interest 960,984 967,781 (6,798) (0.70)%Principal 510,000 520,000 (10,000) (1.96)%

Total Expenditures 1,470,984 1,487,781 (16,798) (1.14)%


0 (658) (658) 0.00%


0 (658) (658) 0.00%

Fund Balance, Beginning of Period0 1,522,393 1,522,393 0.00%

Fund Balance, End of Period 0 1,521,735 1,521,735 0.00%



400 - Enterprise FundFrom 10/1/2016 Through 5/31/2017

(In Whole Numbers)




RevenuesSpecial Assessments

Tax Roll 1,467,229 1,467,229 0 0.00%Off Roll 5,714 5,714 0 0.00%Dues Revenue -Lot Closings 36,469 32,177 (4,292) (11.76)%

Amenity Center RevenueAdministration 67,945 49,035 (18,910) (27.83)%Restaurant Revenue 575,000 534,261 (40,739) (7.08)%

Total Revenues 2,152,356 2,088,415 (63,941) (2.97)%

ExpendituresCost of Goods

Tennis Cost of Sales 8,970 7,743 1,227 13.67%Restaurant Cost of Sales 231,380 210,633 20,747 8.96%

Salaries and BenefitsSalaries and Wages 769,967 523,478 246,489 32.01%Lessons-Fitness 21,600 16,312 5,288 24.48%Employee Benefits 265,175 196,588 68,587 25.86%Employee Education & Training 900 0 900 100.00%Contract Services 20,481 10,720 9,761 47.65%

Repairs and MaintenanceChemicals 4,395 4,910 (515) (11.71)%Shop & Hand Tools 900 306 594 66.00%Landscape Materials 12,500 0 12,500 100.00%Sod & Seed 0 1,899 (1,899) 0.00%Repairs & Maintenance-Equipment 32,325 31,952 373 1.15%Maintenance Contracts 158,756 101,941 56,815 35.78%Building Maintenance 17,883 11,709 6,174 34.52%

Office ExpensePrinting 500 0 500 100.00%Postage 1,550 598 952 61.41%Telephone 13,920 9,304 4,616 33.16%Office Supplies 5,380 3,832 1,548 28.77%

Operating ExpenseEmployee Meals 22,246 16,257 5,989 26.92%Meals & Entertainment 270 0 270 100.00%Equipment Replacement 14,435 10,785 3,650 25.28%Licenses and Fees 9,366 10,010 (644) (6.87)%Travel 1,980 525 1,455 73.48%Electricity 83,500 53,759 29,741 35.61%Water/Sewer Effluent & Common Guardhouse

46,400 37,584 8,816 19.00%

Sanitation Disposal 1,620 1,915 (295) (18.20)%Gas, Diesel Fuel and Oil 8,395 6,432 1,963 23.38%



400 - Enterprise FundFrom 10/1/2016 Through 5/31/2017

(In Whole Numbers)




Equipment Rental 14,190 6,324 7,866 55.43%Personnel Supplies 5,200 2,447 2,753 52.94%Laundry 47,586 28,680 18,906 39.73%Music & Entertainment 26,064 25,480 584 2.24%China, Glass, Silver 4,204 3,867 337 8.01%Paper/Plastic 12,555 10,893 1,662 13.23%Operating Supplies 19,200 10,814 8,386 43.67%Decorations 9,900 10,422 (522) (5.27)%

Legal & ProfessionalLegal Fees 6,600 246 6,354 96.27%

Other Administrative CostCom Related Promotion/Security 10,895 11,592 (697) (6.39)%Bad Debt Expense 900 57 843 93.66%Management Fee 72,000 48,000 24,000 33.33%Employee Relations 4,000 666 3,334 83.35%Insurance 35,000 30,549 4,451 12.71%Misc Expense/Credit Card Fees 19,000 16,142 2,858 15.04%Dues & Subscriptions 2,125 651 1,474 69.36%Amenities Marketing 21,280 8,290 12,990 61.04%

ContingencyNon-Recurring Expenses 86,863 18,256 68,607 78.98%

Total Expenditures 2,152,356 1,502,568 649,788 30.19%


0 585,847 585,847 0.00%

Other Financing Sources (Uses)Interfund Transfer 0 168,262 168,262 0.00%


0 754,109 754,109 0.00%





405 - River Club Reserve FundFrom 10/1/2016 Through 5/31/2017

(In Whole Numbers)





Interest Earnings 0 390 390 0.00%Special Assessments

Tax Roll - Reserve 146,742 143,375 (3,367) (2.29)%Off Roll - Reserve 558 558 0 0.00%Lot Closings - Reserve 0 3,144 3,144 0.00%

Total Revenues 147,300 147,466 166 0.11%

ExpendituresOther Physical Environment

General Repairs & Maintenance 0 9,542 (9,542) 0.00%Contingency

Capital Outlay 12,605 0 12,605 100.00%Capital Reserve 134,695 15,505 119,190 88.48%

Total Expenditures 147,300 25,047 122,253 83.00%


0 122,419 122,419 0.00%


0 122,419 122,419 0.00%




Balance as of Account Investment May 31, 2017

The Bank of Tampa Money Market 8,068$ The Bank of Tampa ICS Program: Chemung Canal Trust Company Money Market 245,042 Flushing Bank Money Market 184,930 Happy State Bank Money Market 1

Total General Fund Investments 438,041$

Fidelity Investments Money Market 719$ Fidelity Investments United States Treasury Notes -Fixed Coupon Moodys Maturity dtd 6/15/17 50,002 Fidelity Investments US Treasury Sec Stripped -Zero Coupon Maturity dtd 11/15/17 378,081 Fidelity Investments United States Treasury Notes -Fixed Coupon Moodys Maturity dtd 5/15/18 379,244

Fidelity Subtotal 808,046 The Bank of Tampa ICS Program: Mutual of Omaha Bank Money Market 45 SunTrust Bank Money Market 439

Total Reserve Fund Investments 808,530$

US Bank Series 2012 Revenue First American Government Obligation Fund Class Y 68,988$ US Bank Series 2012 Revenue US Treasury Note-Principal Coupon Maturity dtd 10/31/17 469,337 US Bank Series 2012 Reserve First American Government Obligation Fund Class Y 310 US Bank Series 2012 Reserve US Treasury Bond Strips-Zero Coupon Maturity dtd 2/15/18 957,299 US Bank Series 2012 Prepayment First American Government Obligation Fund Class Y 2,954

Total Debt Service Fund Investments 1,498,888$

The Bank of Tampa ICS Program: Flushing Bank Money Market 60,110$ Happy State Bank Money Market 99,581 Mutual of Omaha Bank Money Market 244,997

Total River Club Reserve Fund Investments 404,688$

Venetian CDD Investment Summary

May 31, 2017

Venetian Community Development DistrictAged Payables by Invoice Date

Aging Date - 3/1/2017001 - General Fund

From 5/1/2017 Through 5/31/2017

Vendor Name Invoice Date Invoice Number Invoice Description Current Balance

David Lusty 3/27/2017 DL032717 BOS Meeting 3/27/17 100.00 Harry Orenstein 3/27/2017 HO032717 BOS Meeting 3/27/17 100.00 Jerry Jasper 3/27/2017 JJ032717 BOS Meeting 3/27/17 100.00 Richard Bracco 3/27/2017 RB032717 BOS Meeting 3/27/17 100.00 Susie E Dunn-Lentile 3/27/2017 SL032717 BOS Meeting 3/27/17 100.00 Susie E Dunn-Lentile 4/10/2017 SL041017 BOS Meeting 4/10/17 100.00 Richard Bracco 4/10/2017 RB041017 BOS Meeting 4/10/17 100.00 Jerry Jasper 4/10/2017 JJ041017 BOS Meeting 4/10/17 100.00 Harry Orenstein 4/10/2017 HO041017 BOS Meeting 4/10/17 100.00 David Lusty 4/10/2017 DL041017 BOS Meeting 4/10/17 100.00 David Lusty 4/24/2017 DL042417 BOS Meeting 4/24/17 100.00 Jerry Jasper 4/24/2017 JJ042417 BOS Meeting 4/24/17 100.00 Richard Bracco 4/24/2017 RB042417 BOS Meeting 4/24/17 100.00 Susie E Dunn-Lentile 4/24/2017 SL042417 BOS Meeting 4/24/17 100.00 Sunrise Landcare, Inc. 4/24/2017 100696 Monthly Landscape and

Irrigation 5/1721,197.91

Susie E Dunn-Lentile 5/8/2017 SL050817 BOS Meeting 5/08/17 100.00 Jerry Jasper 5/8/2017 JJ050817 BOS Meeting 5/08/17 100.00 David Lusty 5/8/2017 DL050817 BOS Meeting 5/08/17 100.00 Harry Orenstein 5/8/2017 HO050817 BOS Meeting 5/08/17 100.00 Verizon Wireless 5/19/2017 9786021255 Wireless Telephone Services

5/1777.48

Victory Security Agency II, LLC

5/20/2017 30806 Security Services 5/14/17-5/20/17

5,304.60

Susie E Dunn-Lentile 5/22/2017 SL052217 BOS Meeting 5/22/17 100.00 Sunrise Landcare, Inc. 5/22/2017 100831 Pest Control & Fertilization

4/174,540.79

Harry Orenstein 5/22/2017 HO052217 BOS Meeting 5/22/17 100.00 David Lusty 5/22/2017 DL052217 BOS Meeting 5/22/17 100.00 Jerry Jasper 5/22/2017 JJ052217 BOS Meeting 5/22/17 100.00 Richard Bracco 5/22/2017 RB052217 BOS Meeting 5/22/17 100.00 Comcast Communications 5/24/2017 8535100500435487

6/17Gatehouse Internet 6/17 104.85

Sunrise Landcare, Inc. 5/25/2017 100978 Install 3,098 Mixedc Coleus 4.5in Summer Assortment

6,196.00

UPS 5/27/2017 00000W59E2217 Delivery Service 5/18/17 9.08 Victory Security Agency II, LLC

5/27/2017 30865 Security Services 5/21/17-5/27/17

5,304.60

Florida Power & Light 5/30/2017 Electric Summary 5/17 FPL Electric Summary 5/17 2,772.14 Rizzetta Amenity Services, Inc.

5/31/2017 00000000003885 Cell Phone - May 17 50.00

Water Boy Inc 5/31/2017 2154839 Water Delivery 5/17 40.85 Water Equipment Technologies of Southwest Florida LLC

5/31/2017 11306 Weekly Maintenance-Entrance Fountains 5/17

150.00

Venetian Community Development DistrictAged Payables by Invoice Date

Aging Date - 3/1/2017001 - General Fund

From 5/1/2017 Through 5/31/2017

Vendor Name Invoice Date Invoice Number Invoice Description Current Balance

Clean Sweep Parking Lot Maintenance Inc

5/31/2017 36013 Street Sweeping 5/17 395.00

Sunrise Landcare, Inc. 5/31/2017 101005 Install Sod and Plants @ Round About Near Clubhouse

3,493.00

Tri-County Landscape Services Inc

6/1/2017 8406 Removal/Disposal of Madjool Palm Tree

4,300.00

Schappacher Engineering LLC

6/1/2017 547 Engineering Services 5/17 2,187.50

Persson & Cohen P.A. 6/1/2017 Venetian 5/17 Legal Services 5/17 7,487.80 Venetian CDD River Club 6/2/2017 060217 Riverclub-Sales

TaxTransponder Revenue Sales Tax 05/17

22.87

Total 001 - General Fund

65,934.47

Report Total 65,934.47

Venetian Community Development District Notes to Unaudited Financial Statements

May 31, 2017 Balance Sheet

1. Trust statement activity has been recorded through 05/31/17. 2. See EMMA (Electronic Municipal Market Access) at http://www.emma.msrb.org for Municipal

Disclosures and Market Data. 3. For presentation purposes, the Reserves are shown in a separate fund titled Reserve Fund.

Summary A/R Ledger-Payment Terms

4. Payment terms for landowner assessments are (a) defined in the FY16-17 Assessment Resolution adopted by the Board of Supervisors, (b) pursuant to Florida Statutes, Chapter 197 for assessments levied via the county tax roll.

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